SVB Financial Group

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Case Number:

1:23-bk-10367

Court:

New York Southern

Nature of Suit:

Firms

Companies

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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.
May 13, 2024
SVB's Bid To Recoup $1.9B Runs 'Counter To Law,' FDIC Says

The bankrupt former parent company of Silicon Valley Bank can't sue to collect $1.9 billion in deposits held by the Federal Deposit Insurance Corp. when it took receivership over funds after the bank failed, the FDIC told a California federal judge, saying the majority of SVB's latest lawsuit over the funds should be thrown out.
May 03, 2024
SVB Seeks Exit Fee For $340M Brookfield, Sequoia JV Sale

SVB Financial Group has urged a New York bankruptcy court to sign off on protections for a joint venture of Brookfield and Sequoia that is offering $340 million to purchase its investment platform, explaining that a $15.1 million break-up fee provision is necessary to secure the bid.
February 01, 2024
Judge OKs SVB Atty Fees In Ch. 11 Despite 'Sticker Shock'

A New York bankruptcy judge gave initial approval on Thursday to millions of dollars in fees requested by professionals working on the bankruptcy case of Silicon Valley Bank's former parent company, despite his "sticker shock" at Sullivan & Cromwell's $1,500 hourly rate.
August 22, 2023
SVB Parent Gets OK For $12.5M In Exec Performance Bonuses

A New York bankruptcy judge Tuesday approved the payment of up to $12.5 million in bonuses for nine senior executives of the venture capital affiliate of bankrupt SVB Financial Group after SVB said it had resolved objections raised by the U.S. Trustee's Office.
August 16, 2023
US Trustee Pans SVB Bid For Top Executives' Bonuses

The Office of the U.S. Trustee has asked a New York bankruptcy judge to reject $12.5 million in bonuses for nine senior executives of SVB Capital, the venture capital business of bankrupt SVB Financial Group, saying the proposed payouts are just a retention plan in disguise.