The parent company of Silicon Valley Bank (the first of now many American banks to fall or fail in some way) is attempting to go after the FDIC. In court documents filed on Tuesday, the troubled bank made the shock claim that they had ‘undercut the bank with improper actions’ making it even further difficult to run their business.
Bank officials made the claims at their first of likely many bankruptcy hearings in Manhattan. SVB filed for bankruptcy after about a week following California ‘s sudden takeover of the bank after it had collapsed.
SVB Financial is exploring options, including a potential bankruptcy sale, for its venture capital and investment banking units, which were not included in the FDIC takeover of Silicon Valley Bank, while continuing to operate its businesses, it said on Monday.
Be First to Comment