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Silicon Valley Commercial Bankruptcy

Jones Day

Cayman Islands Branch of FDIC-Insured U.S. Bank Ineligible for Chapter 15 Relief

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The Bankruptcy Code bars certain individuals or entities from filing for bankruptcy protection, generally because they do not reside or have a place of business or property in the United States, fail to satisfy certain debt...more

Akerman LLP

Silicon Valley Bank Cayman Branch Denied Chapter 15 Recognition

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According to a February 22 ruling by the Bankruptcy Court for the Southern District of New York, foreign banks with a U.S. branch or agency are ineligible for Chapter 15 recognition. The case before Chief Judge Glenn, In re...more

Foley Hoag LLP

The SVB Bankruptcy Decision and Its Lessons for D&O Insurance Programs

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Directors and Officers (D&O) policies are intended first and foremost to protect a company’s individual directors and officers from significant claims which may be asserted against those individuals in their capacities as...more

Cadwalader, Wickersham & Taft LLP

SVB Financial Group Chapter 11 Case – Issues with the FDIC May Be Front and Center

As many parties expected, on March 17, 2023 SVB Financial Group (“SVB Financial” or the “Debtor”) the holding company for Silicon Valley Bank, commenced a case under chapter 11 of the United States Bankruptcy Code (the...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Instagram co-founders Kevin Systrom and Mike Krieger have resigned over the direction of their app, which Facebook acquired in 2012. The pair has reportedly been frustrated of late by the increasing intervention of Facebook’s...more

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