First Citizens agrees to buy collapsed Silicon Valley Bank

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Go back to First Citizens agrees to buy collapsed Silicon Valley Bank

SVB Financial Group (SIVB) does not plan to appeal Nasdaq’s decision to delist stock

March 17, 2023 2:12 PM EDT

SVB Financial Group (NASDAQ: SIVB) disclosed:

Item 1.03.

Bankruptcy or Receivership.

On March 17, 2023, SVB Financial Group (the Company) announced that it had filed a voluntary petition in the United States Bankruptcy Court for the Southern District of New York (the Bankruptcy Court) for relief under the provisions of Chapter 11 of Title 11 of the United States Code (the Bankruptcy Code) on March 17, 2023. The Companys case will be administered under the caption In re SVB Financial Group, Case No: 23-10367 (the Chapter 11 Case). The Company will continue to operate its business as a debtor in possession under... More