SVB Financial Group

1:23-bk-10367

May 12, 2023
SVB Parent Says FDIC Has No Right To Hold Tax Refunds

The former parent company of Silicon Valley Bank told a New York bankruptcy judge that the Federal Deposit Insurance Corp. is violating the Bankruptcy Code and possibly criminal law in its attempts to retain nearly $11 million in tax refunds mailed to the bank.
March 21, 2023
SVB Financial Gets Ch. 11 Nod For $100M Cash Use

The bankrupt parent company of the failed Silicon Valley Bank received court approval Tuesday in New York to use $100 million of its cash to fund its capital commitments for investment activities at its venture capital operation.
March 20, 2023
SVB Can't Transfer Accounts From Silicon Valley, FDIC Says

Former Silicon Valley Bank parent SVB Financial Group cannot make Silicon Valley move SVB's accounts to a new bank, the Federal Deposit Insurance Corp. told a New York bankruptcy judge Monday, saying it would interfere with the FDIC's right to deny SVB insurance coverage for its accounts.
March 17, 2023
Silicon Valley Bank Parent Files For Ch. 11 In NY

The former parent company of Silicon Valley Bank said Friday morning it has filed for Chapter 11 protection in New York bankruptcy court to explore "strategic alternatives" to deal with its $3.3 billion in debt.