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Silicon Valley Bank: What the 2nd Largest US Bank Failure Means for Policyholders

In the second largest US bank failure since the 2008 global financial crisis, the California Department of Financial Protection and Innovation took over Silicon Valley Bank (“SVB”) on March 10 and appointed the Federal Deposit Insurance Corporation (“FDIC”) as SVB’s receiver. Just two days later, the New York State Department of Financial Services took over another bank, Signature Bank, and appointed the FDIC as receiver. And, yesterday, the share price of various European banks plunged following record one-day selloffs.

USA, Banking, Insolvency & Restructuring, Hunton Andrews Kurth LLP, Venture capital, Due diligence, Insolvency, Federal Deposit Insurance Corporation (USA), US Department of the Treasury, HSBC, Silicon Valley Bank
In Mission Product Holdings, Supreme Court Decides That Trademark Licensee’s Rights Are Not Revoked by Licensor’s Rejection of a Trademark License in Bankruptcy

Yesterday, in Mission Product Holdings v. Tempnology LLC, the Supreme Court held that a trademark licensee may continue using a licensed trademark after its licensor files for bankruptcy and rejects the relevant license agreement. While a debtor-licensor may "reject" a trademark license agreement under Section 365 of the Bankruptcy Code, such rejection is only a breach of the agreement and does not allow the licensor to revoke the licensee's rights.

USA, Insolvency & Restructuring, Litigation, Trademarks, Hunton Andrews Kurth LLP, Supreme Court of the United States