Delaware Court Vacates $1 Billion Damages Against Byju Raveendran, Sets January Damages Phase

Overview

• On December 8, the bankruptcy court said it will amend its default judgment opinion to remove sections assessing damages against Byju Raveendran.
• The court found that damages have not been determined and scheduled a separate proceeding for early January 2026.
• Parties were directed to submit their respective positions on damages on January 7, with an order to follow after briefing.
• A November default ruling had required payment of more than $1 billion after findings about noncooperation in locating proceeds from a 2021 $1.2 billion term loan.
• Raveendran’s advisers say he currently owes no damages, plan an appeal and a lawsuit exceeding $2.5 billion, and intend to present evidence contesting claims over the $533 million “Alpha Funds.”