{"id":75768,"date":"2023-03-17T17:19:36","date_gmt":"2023-03-17T15:19:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75768"},"modified":"2025-09-10T13:31:00","modified_gmt":"2025-09-10T10:31:00","slug":"svb-financial-group-files-for-chapter-11-bankruptcy","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/svb-financial-group-files-for-chapter-11-bankruptcy\/","title":{"rendered":"SVB Financial Group files for Chapter 11 bankruptcy"},"content":{"rendered":"<p>SVB Financial Group, the former subsidiary of Silicon Valley Bank (SVB), filed a <a href=\\\"https:\/\/www.prnewswire.com\/news-releases\/svb-financial-group-commences-chapter-11-proceeding-to-preserve-value-301774997.html\\\">bankruptcy filing<\/a> under Chapter 11 of the U.S. Bankruptcy Code.<\/p>\n<p>According to the petition, the assets of SVB Capital&#8217;s venture arm, the broker-dealer SVB Securities, and the limited partnerships are not included in the proceedings.<\/p>\n<p>The entities will continue to operate as usual, while SVB Financial Group evaluates strategic alternatives for the business.<\/p>\n<p>The company stressed that it is no longer affiliated with Silicon Valley Bank and its wealth- and asset-management unit SVB Private.<\/p>\n<p>The bank&#8217;s successor, Silicon Valley Bridge Bank, operates under the jurisdiction of the <span data-descr=\\\"Federal Deposit Insurance Corporation\\\" class=\\\"old_tooltip\\\">FDIC<\/span> and is not included in the Chapter 11 filing.<\/p>\n<p>SVB Group estimates its liquidity at $2.2 billion. Among its assets, in addition to its stake in SVB Capital and SVB Securities, there are \\&#8221;other investment accounts in securities and other assets,\\&#8221; for which it is also exploring strategic alternatives.<\/p>\n<p>SVB Group&#8217;s accumulated debt stands at about $3.3 billion in unsecured bonds that have no claim on the assets of SVB Capital or SVB Securities. SVB Group also holds $3.7 billion in preferred shares.<\/p>\n<p>The company intends to implement a court-supervised process to evaluate strategic alternatives for SVB Capital, SVB Securities, and other assets.<\/p>\n<p>Earlier, on March 10, the California Department of Financial Protection and Innovation<a href=\"https:\/\/u1f987.com\/en\/news\/venture-capital-investors-distance-themselves-from-silicon-valley-bank-amid-liquidity-concerns\"> closed<\/a> SVB and appointed the FDIC as receiver.<\/p>\n<p>On March 13, the U.S. Treasury, the FRS and FDIC<a href=\"https:\/\/u1f987.com\/en\/news\/us-rescue-saves-svb-and-signature-bank-depositors-stablecoins-narrow-the-depegging\"> announced a bailout<\/a> of Silicon Valley Bank \u2014 depositors will have access to their funds at the expense of shareholders and certain holders of unsecured bonds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SVB Financial Group, the former subsidiary of Silicon Valley Bank (SVB), filed a Chapter 11 bankruptcy filing.<\/p>\n","protected":false},"author":1,"featured_media":75769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1300,1229],"class_list":["post-75768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bankruptcy","tag-banks-and-fintech"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=75768"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75768\/revisions"}],"predecessor-version":[{"id":75770,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75768\/revisions\/75770"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75769"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}