22-03-2023, 08:45 PM
Silicon Valley Bank’s former parent company can’t access about $2 billion that it had deposited at the failed bank, after regulators froze the company’s accounts and are exploring whether it should help shoulder costs associated with the bank’s failure.
Lawyers for SVB Financial Group, the holding company that used to control the now-defunct bank, claimed during the company’s first hearing in bankruptcy court on Tuesday that the Federal Deposit Insurance Corp. has improperly blocked access to cash stored in accounts it holds at the successor to Silicon Valley Bank.
https://www.wsj.com/articles/silicon-val...h-e52a6a1b
Lawyers for SVB Financial Group, the holding company that used to control the now-defunct bank, claimed during the company’s first hearing in bankruptcy court on Tuesday that the Federal Deposit Insurance Corp. has improperly blocked access to cash stored in accounts it holds at the successor to Silicon Valley Bank.
https://www.wsj.com/articles/silicon-val...h-e52a6a1b