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Silicon Valley Bank Parent Company Files for Bankruptcy

SVB Financial Group, the corporate parent of Silicon Valley Bank, filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York on March 17. According to a press release issued by SVB Financial Group, its related entities SVB Securities and SVB Capital are not included in the Chapter 11 filing. This bankruptcy filing comes a week after regulators took control of the failed Silicon Valley Bank.

USA, Company & Commercial, Insolvency & Restructuring, Frost Brown Todd LLP, Silicon Valley Bank
Sixth Circuit rules in favor of bank and resolves conflict among bankruptcy courts concerning whether the arrearage amount on mortgages includes fees and costs permitted by the contract terms and non-bankruptcy law

Deutsche Bank held an under-secured home mortgage from a Chapter 13 debtor. The debtor was in arrears, but wanted to retain possession and control of her home. Thus, in her Chapter 13 plan, the debtor proposed to cure the arrearage, as required by 11 U.S.C. § 1322(e). The problem, however, was that the parties could not agree on the arrearage amount.

USA, Banking, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, Bankruptcy, Costs in English law, Debtor, Collateral (finance), Statutory interpretation, Federal Reporter, Mortgage loan, Attorney's fee, US Congress, Deutsche Bank, Westlaw, US Code, United States bankruptcy court, Sixth Circuit