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HSBC's acquisition of Silicon Valley Bank UK
2023-03-15

After a turbulent weekend, the news on Monday morning that HSBC had acquired Silicon Valley Bank UK (SVB UK) caused the UK tech community to breathe a huge sigh of relief.

It was also a very different outcome to the one that seemed destined on Friday when the Bank of England announced it intended to put SVB UK into a bank insolvency procedure.

Filed under:
United Kingdom, Banking, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Taylor Wessing, Insolvency, HSBC, Bank of England, Silicon Valley Bank
Authors:
Gabriel Estevez , Angus Miln
Location:
United Kingdom
Firm:
Taylor Wessing
View Original Article
HSBC's acquisition of Silicon Valley Bank UK
2023-03-15

After a turbulent weekend, the news on Monday morning that HSBC had acquired Silicon Valley Bank UK (SVB UK) caused the UK tech community to breathe a huge sigh of relief.

It was also a very different outcome to the one that seemed destined on Friday when the Bank of England announced it intended to put SVB UK into a bank insolvency procedure.

Filed under:
United Kingdom, Banking, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Taylor Wessing, Insolvency, HSBC, Bank of England, Silicon Valley Bank
Authors:
Gabriel Estevez , Angus Miln
Location:
United Kingdom
Firm:
Taylor Wessing
View Original Article
Silicon Valley Bank Auction and Signature Bank Sale
2023-03-20

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, March 24, 2023 at 8 p.m. We’ve previously reported that SVB is open for operations for a minimum of ninety days until it is sold or liquidated.

Filed under:
USA, Banking, Insolvency & Restructuring, Federal Deposit Insurance Corporation (USA), Silicon Valley Bank
Location:
USA
View Original Article
An Introduction to the Unique Issues in Bank Holding Company Bankruptcies
2023-03-17

On March 17, 2023, the parent of Silicon Valley Bank (SVB) filed for Chapter 11 protection in the Southern District of New York. Unlike SVB itself, its parent, as a bank holding company, was eligible for Chapter 11. In the wake of the recent SVB and Signature Bank failures, it is important for those with potential claims against the parents of failed banks to understand the distinct rules and issues in bank holding company bankruptcies.

Filed under:
USA, Insolvency & Restructuring, Skadden Arps Slate Meagher & Flom LLP, Federal Deposit Insurance Corporation (USA), Silicon Valley Bank
Location:
USA
Firm:
Skadden Arps Slate Meagher & Flom LLP
View Original Article
HSBC's acquisition of Silicon Valley Bank UK
2023-03-15

After a turbulent weekend, the news on Monday morning that HSBC had acquired Silicon Valley Bank UK (SVB UK) caused the UK tech community to breathe a huge sigh of relief.

It was also a very different outcome to the one that seemed destined on Friday when the Bank of England announced it intended to put SVB UK into a bank insolvency procedure.

Filed under:
United Kingdom, Banking, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Taylor Wessing, Insolvency, HSBC, Bank of England, Silicon Valley Bank
Authors:
Gabriel Estevez , Angus Miln
Location:
United Kingdom
Firm:
Taylor Wessing
View Original Article
The US-Israel legal review 2022
2023-03-20

A GLOBAL LEGAL MEDIA & NISHLIS LEGAL MARKETING PUBLICATION THE US-ISRAEL LEGAL REVIEW 2022 IN ASSOCIATION WITH: Israel’s Unicorn Success Story SNNOVATION The US-Israel Legal Review 2022 1 Contents THE US-ISRAEL LEGAL REVIEW 2022 2 WELCOME FROM THE PUBLISHERS Global Legal Media and Nishlis Legal Marketing 4 ECONOMIC HEADWINDS, A HOT WAR AND A TRADE WAR: THE IMPACT ON ISRAEL’S COMPANIES With rising interest rates, rising inflation and reduced growth forecasts, how has that reality been faced by corporate clients and start-ups? Arnon, Tadmor-Levy provide some answers.

Filed under:
Global, Israel, USA, New York, Arbitration & ADR, Banking, Capital Markets, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, IT & Data Protection, Litigation, Patents, Tax, Trade & Customs, Foreign direct investment, Corporate governance, Blockchain, Private equity, Patent infringement, Big data, Venture capital, Mediation, Fintech, Due diligence, Artificial intelligence, Cryptocurrency, SIPP, ESG, Personal data, Gaming, Cybersecurity, SPAC, Health Insurance Portability and Accountability Act 1996 (USA), GDPR, Federal Arbitration Act 1926 (USA), California Consumer Privacy Act 2018 (USA), US Securities and Exchange Commission, NASDAQ, International Centre for Settlement of Investment Disputes, Committee on Foreign Investment in the United States, ChatGPT, Silicon Valley Bank
Location:
Global, Israel, USA
View Original Article
Silicon Valley Bank Parent Company Files for Bankruptcy
2023-03-17

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.

Filed under:
USA, Company & Commercial, Insolvency & Restructuring, Silicon Valley Bank
Location:
USA
View Original Article
Big Law Works ‘Around the Clock’ as Clients Navigate SVB Collapse
2023-03-17

What You Need to Know

• Silicon Valley Bank’s 48-hour collapse sent several Big Law firms into action late last week.

• Morgan Lewis, Wilmer, Wilson Sonsini and Ballard Spahr are among the laws firms that launched task forces and webinars over the weekend.

• Despite some reassurance from the FDIC on Sunday, there are lingering issues that are expected to continue to prevent firms’ clients from conducting business in the normal course.

Filed under:
USA, Banking, Compliance Management, Insolvency & Restructuring, Wilmer Cutler Pickering Hale and Dorr LLP, Corporate governance, Venture capital, Federal Deposit Insurance Corporation (USA), Silicon Valley Bank
Location:
USA
Firm:
Wilmer Cutler Pickering Hale and Dorr LLP
View Original Article
Silicon Valley Bank and Signature Bank Fallout - Legal Considerations for Borrowers, Syndicated Lenders and Trade Creditors
2023-03-17

Highlights

Counterparties should continue to follow their current contractual obligations

Silicon Valley Bank’s parent company bankruptcy filing will not impact contractual rights

Counterparties should be vigilant and consider alternate financing arrangements

Filed under:
USA, Banking, Corporate Finance/M&A, Insolvency & Restructuring, Venture capital, Federal Deposit Insurance Corporation (USA), Silicon Valley Bank
Location:
USA
View Original Article
Silicon Valley Bank and Signature Bank’s Receiverships: Frequently Asked Questions
2023-03-15

This FAQ has been updated to take account of developments through March 15, 2023.

Filed under:
USA, Banking, Insolvency & Restructuring, Covington & Burling LLP, Receivership, Federal Deposit Insurance Corporation (USA), Silicon Valley Bank
Location:
USA
Firm:
Covington & Burling LLP
View Original Article

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