, 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?
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