Reno Fernandez of Complex Appellate Litigation Group. Courtesy photo Litigation Involving Failed Banks: What Litigators and In-House Counsel Should Be Thinking About
"Bank failures are rare and, given the size of these failures and the government's unusual response, these in particular will likely raise novel issues," says Complex Appellate Litigation Group's Reno Fernandez.
March 15, 2023 at 10:30 AM
5 minute read
Financial Services and Banking
Silicon Valley Bank collapsed in spectacular fashion earlier this month, with the Federal Deposit Insurance Corporation putting the bank into a federal receivership. This is the largest collapse of an FDIC-insured bank since the 2008 financial crisis and the second largest in history, with more than $200 billion in assets involved. FDIC receiverships for two other large banks, Silvergate Bank and Signature Bank, quickly followed. The holding companies for all three banks are expected to enter bankruptcy soon.
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