After Silicon Valley Bank announced its closure due to a government order. Silicon Valley Bank’s parent company, SVB Financial Group (SIVB), has filed for bankruptcy pursuant to Section 11 of the Bankruptcy Law. It filed a petition with the Bankruptcy Court in New York South.
The company said it had filed a new reorganization with the bankruptcy court in New York to preserve its value. SVB Financial said it was no longer affiliated with Silicon Valley Bank.
Earlier it was reported that on March 13, 2023, HSBC has agreed to buy a subsidiary of Silicon Valley Bank in the UK for £1. The deal is being procured by the UK government. and the Bank of England, after Silicon Valley Bank, headquartered in the United States. with liquidity problems
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