May 05, 2026
Two insurers said they owe no coverage for a fraudulent scheme that caused the failed Silicon Valley Bank to lose $73 million, telling a North Carolina federal court that the bank has not satisfied all requirements under its financial institution bonds' extended forgery coverage provision.
March 12, 2026
The Federal Deposit Insurance Corp., as receiver for Silicon Valley Bank after its historic collapse in early 2023, is entitled to recover on what could be tens of millions of dollars in financial institution bond proceeds, the FDIC's counsel told a North Carolina federal court Thursday.
November 10, 2025
A U.S. magistrate judge seemed skeptical of an insurer's bid to exclude a witness proffered as a policy expert on financial institution bonds, repeatedly asking Berkley Regional Insurance Co.'s counsel in a Monday hearing why the expert's experience — or lack thereof — should disqualify him.
September 16, 2025
A Chubb unit must comply with a previous order forcing it to give documents relating to the drafting history of certain policy provisions to Silicon Valley Bank former parent SVB Financial Group in a $73 million private equity fraud coverage dispute, a North Carolina federal court ruled.
January 24, 2025
A Chubb unit must give certain documents to Silicon Valley Bank's former parent SVB Financial Group regarding coverage for a fraud that SVB Financial said caused $73 million in losses, a North Carolina federal court ruled Friday, though relieving an excess insurer of doing the same.
February 29, 2024
The bankrupt parent company of Silicon Valley Bank cannot use Farella Braun & Martel LLP as counsel in litigation over the parent company's claims that it alone must be covered for a fraud scheme that caused over $73 million in losses, a North Carolina federal court ruled.
October 20, 2023
Silicon Valley Bank's holding company urged a North Carolina federal court not to disqualify Farella Braun & Martel LLP as its counsel in a $73 million private equity fraud coverage dispute, arguing there is no conflict of interest with the Federal Deposit Insurance Corp.
September 21, 2023
The Federal Deposit Insurance Corp. urged a North Carolina federal court to disqualify Farella Braun & Martel LLP as counsel for the Silicon Valley Bank's holding company in a $73 million private equity fraud coverage dispute, saying material adversity exists between the company and the FDIC as the failed bank's receiver.
August 22, 2023
A law firm representing Silicon Valley Bank in a $73 million private equity fraud coverage dispute must withdraw as counsel or face a motion to disqualify, the Federal Deposit Insurance Corp. told a North Carolina federal court.
March 30, 2023
A North Carolina federal court granted a stay in a dispute over whether Silicon Valley Bank has coverage for $73 million in losses stemming from its extension of credit to a private equity fund fraudster, allowing the bank's recently appointed receiver time to read up on the case.