January 10, 2024 BY Simon Mugo
SVB Financial Is Ready To Hand Over VC Business to Creditors
SVB Financial Group has formulated a restructuring plan with principal creditors, gaining the endorsement of a consortium of banks and investment firms. This group, holding over $2.3 billion in SVB Financial's debt and preferred stock, was mentioned in the documents presented to the Manhattan bankruptcy court. Following the collapse of Silicon Valley Bank in March,…
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