Silicon Valley Bank, the 16th largest bank in the US, was shut down on Friday by US regulators. Founded in 1983, Silicon Valley Bank has played an integral role in the technology sector, lending capital to tech start-ups with high growth potential.
How will the Silicon Valley Bank collapse impact tech firms
The impact of the Silicon Valley Bank collapse on tech start-ups is expected to be significant as many will struggle to survive without access to capital to pay business expenses.
Introduction:
On 5 October 2022, the Supreme Court delivered a landmark judgement in BTI 2014 LLC v Sequana SA [2022]. The decision is the first from the Supreme Court to address when, and in what circumstances, company directors owe a duty to consider the interests of the company’s creditors (‘’the creditor duty’’).
A majority of the Supreme Court recently held that an insolvent company does not suffer any recoverable loss if payments are made from its bank accounts that discharge a debt owed by that company. This decision adds to the growing case law on the Quincecare duty.
The claim against HSBC
John Wasty, John Riihiluoma, Lalita Vaswani and James Batten, Appleby
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
Welcome to the eighth edition of our quarterly disputes newsletter, which covers key developments in the dispute resolution world over the last three months or so.
A number of key decisions from the English courts in 2021 illustrate the litigation trends that are likely to have implications for the financial services industry in 2022 and beyond (see below “Cases to watch in 2022”).
Market misconduct and mis-selling
In the first of a series of claims issued by ECU Group Plc in relation to alleged wrongdoing in the foreign exchange markets by a number of banks, the High Court held that:
In the October 2021 edition of IBA Insolvency and Restructuring International, Peter Hayden and Jonathan Moffatt explain recent decisions in the UK and the Cayman Islands on the narrowing of the rule in Prudential and its implications for shareholders and creditors considering litigation.
Introduction
This quarterly civil fraud update provides a summary of reported decisions handed down in the courts of England and Wales in the period April - June 2021.
CONTEMPT OF COURT
These case summaries first appeared in LexisNexis’ Insolvency Case Alerter. They represent some of the more interesting insolvency decisions to have been published recently.
This summary covers:
1.Re PGH Investments Ltd [2021] EWHC 533 (Ch)
2.Re Mederco (Cardiff) Ltd [2021] EWHC 386 (Ch)
3.Lyle v Bedborough [2021] EWHC 220 (Ch)
4.Re TXU Ltd, Insolvency and Companies Court, 2 March 2021
5.Re Port Finance Investment Ltd [2021] EWHC 378 (Ch)