SVB Financial Group

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Case overview

Case Number:

1:23-bk-10367

Court:

New York Southern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

July 24, 2024
Failed Bank, FDIC Continue Fight Over $1.9B Account Claims

A New York bankruptcy judge on Wednesday heard arguments on the Chapter 11 plan of the parent company of the failed Silicon Valley Bank, alongside separate arguments on the fate of $1.9 billion in funds currently in the hands of federal banking regulators.
July 22, 2024
SVB Postpones Ch. 11 Plan Hearing To Wednesday

The former parent of the failed Silicon Valley Bank has postponed the start of the New York bankruptcy court hearing on its Chapter 11 plan until Wednesday morning.
July 19, 2024
SVB, FDIC Head For Standing Clash At Ch. 11 Plan Hearing

The former parent of Silicon Valley Bank and federal banking regulators have dueling arguments regarding standing queued up, as they're scheduled to take their dispute over $1.9 billion in assets into a confirmation hearing for the company's liquidation plan before a New York bankruptcy judge on Monday.
July 18, 2024
Judge 'Disappointed' By Atty Prep In SVB Financial Ch. 11 Tiff

A New York bankruptcy judge said he wasn't prepared to decide if joint liquidators of Silicon Valley Bank's Cayman Islands arm have standing to bring a $476 million claim in the Chapter 11 of the bank's former parent company, rebuking lawyers for not adequately briefing key questions ahead of a hearing on Thursday.
June 18, 2024
Rite Aid, SVB Affiliates Among Top 2024 Ch. 11 Sales So Far

Branches of Rite Aid and Silicon Valley Bank, technology and biotech firms and a discount store chain were among the companies that attracted top dollar in the Chapter 11 auctions held during the first half of 2024.
June 11, 2024
SVB Wants A Trial Over Its $605M Tax Bill From IRS

The parent company of failed Silicon Valley Bank has told a New York bankruptcy judge it wants him to decide if it owes the Internal Revenue Service more than $605 million in taxes.
June 10, 2024
Judge Rejects Late Indemnity Claims In SVB Ch. 11

A New York bankruptcy judge refused to let Morgan Stanley and two individuals assert late claims for indemnification against the former parent of Silicon Valley Bank in its Chapter 11 case, concluding that they should have brought the claims sooner.
June 03, 2024
WeWork Plan Approval, Crypto Update, Giuliani Creditor Fight

Office space provider WeWork's plan to wipe out $4 billion in debt and end its Chapter 11 case was approved, defunct crypto lending platform Genesis Global Holdco LLC expects to exit bankruptcy in July and the official committee of unsecured creditors in Rudy Giuliani's Chapter 11 has asked a New York bankruptcy judge to hand control of the Republican firebrand's estate to a trustee.
May 29, 2024
SVB Parent Gets OK For $340M Sale Of Financial Biz

A New York bankruptcy judge gave the former parent of Silicon Valley Bank permission Wednesday to sell its still-solvent investment arm for $340 million, and told it he will rule on sending its Chapter 11 plan out for a vote by Thursday.
May 16, 2024
SVB Parent Resolves Objections To Ch. 11 Plan Disclosures

SVB Financial Group, the former parent company of Silicon Valley Bank, told a New York bankruptcy judge Thursday that it had resolved outstanding objections to its Chapter 11 plan disclosure statement and was ready to move forward with a sale of its investment arm.