Byju’s US Units Wrongly Stripped of Education App, Judge Rules

Two money-making education apps that are part of the troubled Byju’s software empire were wrongly transferred away from US lenders and must be returned to a court-supervised bankruptcy trustee, a federal judge ruled Tuesday.

A “rogue officer” manipulated Apple Inc. into changing the ownership — and the revenue stream — of two apps that bring in about $1 million a month, according to the trustee, who controls three of Byju’s US units.

The apps are used by parents to download education materials for their children, Catherine Steege, a lawyer for the US units said Tuesday during a virtual hearing. ...