Saga Formations, Inc. (f/k/a Epic! Creations, Inc.) and affiliates are three U.S. education technology companies (Epic! digital reading platform, Neuron Fuel/Tynker coding platform, Tangible Play/Osmo educational games) acquired by India-based Byju's for approximately $820 million between 2019 and 2021. Following Byju's default on its $1.4 billion term loan (recognized by Delaware Chancery Court November 2023), lenders filed involuntary Chapter 11 petitions on June 4, 2024 against the U.S.-based guarantor companies. Order for relief was entered as a default judgment on September 16, 2024, and Chapter 11 trustee Claudia Z. Springer was appointed September 26, 2024. The trustee obtained a $152 million DIP facility ($19 million new money plus $133 million roll-up of prepetition obligations) and executed a multi-track 363 sale process. Epic! sold to Hy Ruby/TAL Education for $95.1 million (81% decline from $500M acquisition), Tynker sold to CodeHS for $2.15 million (99% decline from $200M acquisition), and Osmo was sold to Play Osmo as a stalking horse bid. A combined liquidating plan was confirmed on October 29, 2025, with Timothy R. Pohl appointed plan administrator at $75,000 monthly to oversee wind-down and pursue retained litigation against excluded parties.