Svb Financial Group (SIVBQ) has released an update to notify the public and investors about a regulation fd disclosure.
SVB Financial Group filed for Chapter 11 bankruptcy on March 17, 2023, and is operating its businesses, including SVB Capital, as a debtor in possession. On January 26, 2024, the Company submitted its initial Plan of Reorganization, outlining the restructuring process, which includes the creation of a liquidating trust and a reorganized holding company. The Company has the exclusive right to solicit plan acceptances until March 26, 2024, and a hearing for the disclosure statement approval is set for March 13, 2024. While the Plan’s approval by the Bankruptcy Court is uncertain, the Company is proceeding with the restructuring plans as proposed.
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