The FDIC has statutory obligations to maximize the net present value return from the sale or disposition of the assets entrusted to it as receiver, and to minimize the amount of any loss realized.[1] Today we examine the...more
Bank Asset Auction: Bids for Silicon Valley Bridge Bank, N.A. (“SVB”) and its subsidiary Silicon Valley Private Bank, together or separately, in whole or in part, are due by Wednesday, March 22, 2023 at 8 p.m. and Friday,...more
The FDIC has announced the proof of claim deadlines for proofs of claim to be filed with the FDIC as receiver of the failed banks, Silicon Valley Bank (“SVB”) and Signature Bank. The deadline to file a proof of claim against...more
Seyfarth has received a large number of client inquiries on the Federal Deposit Insurance Corporation’s (“FDIC”) appointment as receiver of Silicon Valley Bank, Santa Clara, California (“SVB”). SVB was closed by the...more