The Problem With Biju's Share Swap

Biju's EdTech firm Akash is in trouble. He raised money from a company called Davidson Kempner Capital Management and he gave part of his shares as collateral. Now the problem seems to be that Biju allegedly lied to the investment management company about how the business was structured. The promoters of Akash still hold 18% in the company and Blackstone, which is one of the investors, holds 12%. But both these folks don't want to execute the share swap.