A regulatory filing shows the Canadian branch of Silicon Valley Bank is not part in First Citizens\u0027 purchase of most of the failed U.S. bank.
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The U.S. 8-K filing shows that the Canadian, German and Hong Kong branches of Silicon Valley Bank will instead be available as an option for First Citizens to purchase.From our newsroom to your inbox at noon, the latest headlines, stories, opinion and photos from the Toronto Sun.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
The wind-up order granted by the Ontario Superior Court of Justice also provide the framework for a future liquidation if no other option is possible. PricewaterhouseCoopers Inc., which has been appointed by the court to oversee the transition, didn’t respond to a request for comment on how the sale to First Citizens, announced late Sunday, might affect the Canadian branch.
The Canadian branch of Silicon Valley Bank was especially active with startup funding in Canada’s tech sector, but the assets of the bank and substantially all of its deposits were transferred to the bridge bank set up by U.S. regulators as part of efforts to keep U.S. operations running.
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Canadian branch not included in sale of Silicon Valley Bank to First CitizensThe U.S. 8-K filing shows that the Canadian, German and Hong Kong branches of Silicon Valley Bank will instead be available as an option for First Citizens to purchase
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Canadian branch not included in sale of Silicon Valley Bank to First CitizensThe Canadian branch of Silicon Valley Bank will instead be available as an option for First Citizens to purchase. Find out more.
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Canadian branch not included in sale of Silicon Valley Bank to First CitizensThe Canadian branch of Silicon Valley Bank will instead be available as an option for First Citizens to purchase. Find out more.
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Canadian branch not included in sale of Silicon Valley Bank to First CitizensA regulatory filing shows the Canadian branch of Silicon Valley Bank is not part in First Citizens\u0027 purchase of most of the failed U.S. bank.
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