SVB Financial is exploring bankruptcy as an option for selling assets that include its investment bank and venture capital business
Destroyed SVB logo is seen in this illustration taken March 13, 2023. REUTERS/Dado Ruvic/Illustration/File Photo, the company whose former subsidiary Silicon Valley Bank was taken over by U.S. banking regulators last week, is exploring seeking bankruptcy protection as one option for selling assets that include its investment bank and venture capital business, people familiar with the matter said.for its assets but did not disclose bankruptcy as one of the potential options.
in the wake of Silicon Valley Bank's failure that included guaranteeing uninsured deposits at the bank. Bidders are often hesitant when distressed enterprises are attempting to sell assets. One reason is that a deal done outside of bankruptcy can be unwound if a company later seeks Chapter 11 protection within a certain timeframe, in what is known as a clawback.
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