, the bank’s parent entity marked it had between 1,000 and 5,000 creditors. Chapter 11 is often called “reorganizational” bankruptcy, as the company is supposed to use the process to try and get back on its feet.
Silicon Valley Bank, the entity that caused this mess, isn’t part of the filings since it was taken over by regulators. Instead, the fillings show investment managing service SVB Capital, investment bank SVB Securities, and wealth-management group SVB Private are caught up in the mess, according toThe company had more than $19.6 billion in total assets and over $3.6 billion in debts.
Return? Why?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silicon Valley Bank’s parent company files for bankruptcy protectionSVB Securities and SVB Capital were not included in the filing by SVB Financial Group.
Source: mercnews - 🏆 88. / 68 Read more »
Silicon Valley Bank's Parent Company Files for BankruptcyThe company said on Friday it had filed for court-supervised reorganization in the United States Bankruptcy Court for the Southern District of New York JamieCrawleyCD Btc will JamieCrawleyCD oh shit….. this is not looking good. 30 banks have to backstop first republic. Something big is going on behind the scenes.🙈 JamieCrawleyCD US BASED BANK & CRYPTO BUSINESS 100% BANKRUPTCY.
Source: CoinDesk - 🏆 291. / 63 Read more »
Silicon Valley Bank's former parent company has filed for bankruptcy protection | CNN BusinessSVB Financial Group, the company that owned the failed Silicon Valley Bank until the US government took it over last week, has filed for Chapter 11 bankruptcy protection. Woke go broke... Get woke, go broke
Source: CNN - 🏆 4. / 95 Read more »