Bankruptcy & Restructuring News Headlines for Monday Mar 20, 2023

Here's what we are reading this morning:

SVB Financial Group Commences Chapter 11 Proceeding to Preserve Value: SVB Securities and SVB Capital's Funds and General Partner Entities NOT Included in Chapter 11 Filing

Buying assets from the FDIC | DLA Piper: This alert provides a high-level overview of the process for acquiring assets from the FDIC as receiver.

An Introduction to the Unique Issues in Bank Holding Company Bankruptcies | Insights | Skadden, Arps, Slate, Meagher & Flom LLP: Bank holding company bankruptcies are subject to special rules, which can favor federal depository regulators over other creditors. Capital commitment and tax refund agreements between parent and bank are common subjects of litigation.

FDIC Breakup Plan News for Silicon Valley Bank (SVB - SIVB) - Bloomberg: The Federal Deposit Insurance Corp. is now seeking to sell the failed bank in at least two parts, said the people, who asked to not be identified because the matter isn’t public.

Bed Bath & Beyond announces reverse stock split plan, shares drop | Reuters: Bed Bath & Beyond said on Friday it was seeking shareholder approval for a reverse stock split, sending the struggling retailer's shares 13% lower in extended trading.

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