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Topline
Just days after its former subsidiary Silicon Valley Bank was deemed a failure and taken over by regulators, SVB Financial filed for bankruptcy in New York on Friday—an attempt to save assets and businesses it still controls, including its investment bank and venture capital arm.
Key Facts
On Friday morning, SVB Financial announced it filed a voluntary petition for a court-supervised reorganization in the U.S. Bankruptcy Court for the Southern District of New York.
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