Case number: 1:23-bk-10367 - SVB Financial Group and SVB Financial Trust - New York Southern Bankruptcy Court

Case Information
  • Case title

    SVB Financial Group and SVB Financial Trust

  • Court

    New York Southern (nysbke)

  • Chapter

    11

  • Judge

    Martin Glenn

  • Filed

    03/17/2023

  • Last Filing

    12/03/2024

  • Asset

    Yes

  • Vol

    v

Docket Header
MEGANY, MEGA, Lead, FeeDueAP, PENAP, CLMAGT



U.S. Bankruptcy Court
Southern District of New York (Manhattan)
Bankruptcy Petition #: 23-10367-mg

Assigned to: Judge Martin Glenn
Chapter 11
Voluntary
Asset


Date filed:  03/17/2023
341 meeting:  05/31/2023
Deadline for filing claims:  08/11/2023

Debtor

SVB Financial Group

387 Park Ave S.
New York, NY 10016
NEW YORK-NY
Tax ID / EIN: 91-1962278

represented by
James L. Bromley

Sullivan & Cromwell LLP
125 Broad Street
New York, NY 10004
212-558-4923
Email: bromleyj@sullcrom.com

Vincent Edward Lazar

Jenner & Block LLP
353 N. Clark Street
Chicago, IL 60654
(312) 923-2989
Fax : (312) 840-7389
Email: vlazar@jenner.com

Robert A Sacks

Sullivan & Cromwell LLP
1888 Century Park East
Suite 2100
Los Angeles, CA 90067
310-712-6600
Fax : 310-712-8800
Email: sacksr@sullcrom.com

Trustee

U.S. Bank Trust Company, National Association, as trustee


represented by
John R. Ashmead

Seward & Kissel, LLP
One Battery Park Plaza
New York, NY 10006
(212) 574-1200
Fax : (212) 480-8421
Email: ashmead@sewkis.com

U.S. Trustee

United States Trustee

Office of the United States Trustee - NY
Alexander Hamilton Custom House
One Bowling Green, Room 534
New York, NY 10004-1408
(212) 510-0500

represented by
Andrea Beth Schwartz

DOJ-Ust
Alexander Hamilton U.S. Custom House
One Bowling Green
., Room 534
New York, NY 10004
212-510-0500
Email: andrea.b.schwartz@usdoj.gov

Annie Wells

DOJ-Ust
Alexander Hamilton Custom House
One Bowling Green
Suite 511
New York, NY 10004
212-510-0500
Email: annie.wells@usdoj.gov

Claims and Noticing Agent

Kroll Restructuring Administration LLC Claims Agent

(Formerly Prime Clerk LLC)
55 East 52nd Street
17th Floor
www.kroll.com
New York, NY 10055
(212) 257-5450

 
 
Claims and Noticing Agent

Kroll Restructuring Administration LLC

(f/k/a Prime Clerk LLC)
55 East 52nd Street
17th Floor
New York, NY 10055
212-257-5450

 
 
Creditor Committee

Official Committee of Unsecured Creditors of SVB Financial Group


represented by
James Savin

Akin Gump Strauss Hauer & Feld LLP
One Bryant Park
New York, NY 10036
212-872-1000
Email: jsavin@akingump.com

Seth Van Aalten

Cole Schotz P.C.
Cole Schotz P.C.
1325 Avenue of the Americas
19th Floor
New York, NY 10019
646-563-8926
Email: svanaalten@coleschotz.com

David M. Zensky

Akin Gump Strauss Hauer & Feld LLP
One Bryant Park
New York, NY 10036
212-872-1000
Fax : 212-872-1002
Email: dzensky@akingump.com

Creditor Committee

Efficiency and Conflicts Counsel to the Official Committee of Unsecured Creditors of SVB Financial Group
represented by
Seth Van Aalten

(See above for address)

Latest Dockets

Date Filed#Docket Text
12/03/20241618Amended Notice of Agenda Amended Agenda for Omnibus Hearing to be Held December 4, 2024, at 10:00 A.M. (Prevailing Eastern Time) With the Permission of the Court the Hearing has been Cancelled filed by James L. Bromley on behalf of SVB Financial Trust. (Bromley, James)
12/03/20241617Supplemental Application for Interim Professional Compensation Notice of Filing Supplement to the First Interim Application of Lincoln Partners Advisors LLC as Valuation Advisor to the Debtor for Interim Approval and Allowance of Compensation for Services Rendered and Reimbursement of Expenses Incurred for the Period from September 6, 2023 Through and Including May 31, 2024. filed by James L. Bromley. (Bromley, James)
12/03/20241616Affidavit of Service of Ishrat Khan Regarding Chapter 11 Monthly Operating Report for the Reporting Period Ending: 10/31/2024 (related document(s)[1602]) filed by Kroll Restructuring Administration LLC.(Malo, David)
12/03/20241615Order, Signed on 12/3/2024, RE: Briefing on Remand From District Court of Denial of Claimants' Motion to File Late Claims. (Anderson, Deanna)
12/02/20241614Notice of Adjournment of Hearing Notice of Adjournment of Hearing to Consider Debtor's Sixth Omnibus Objection to Certain Proofs of Claims with Respect to Westriver Management LLC Claim and to Consider Debtor's Ninth Omnibus Objection to Certain Proofs of Claims with Respect to Finastra Technology, Inc. Claim filed by James L. Bromley on behalf of SVB Financial Trust. (Bromley, James)
12/02/20241613Notice of Agenda Agenda for Omnibus Hearing to be Held December 4, 2024, at 10:00 a.m. (Prevailing Eastern Time) filed by James L. Bromley on behalf of SVB Financial Trust. with hearing to be held on 12/4/2024 at 10:00 AM at Videoconference (ZoomGov) (MG) (Bromley, James)
12/02/20241612Order of U.S. District Court Judge signed on 12/2/2024 re MEMORANDUM OPINION AND ORDER Accordingly, the Court agrees that a limited "remand to the Bankruptcy Court for a ruling on [the Section 510(b)] issue," Appellee's Letter 2 - and, by extension, the ultimate question of mootness - is appropriate. The Court retains jurisdiction to hear the appeal, if not abandoned, following the Bankruptcy Court's ruling on remand. To reinstate the appeal, Appellants shall file a letter-motion seeking to reopen the appeal within fourteen days of the Bankruptcy Court's resolution of the limited remand. To be clear, any letter-motion to reopen filed after that date will be denied as untimely and the appeal will be deemed dismissed. In accordance with the foregoing, the Clerk of Court is directed to remand this matter to the Bankruptcy Court for further proceedings consistent with this Memorandum Opinion and Order and to close the case pending a timely letter-motion to reopen. (And as further set forth herein.) SO ORDERED. (jca)
11/27/20241611Monthly Fee Statement Nineteenth Monthly Fee Statement of Sullivan & Cromwell LLP as Counsel to the Debtor for Compensation for Professional Services Rendered and Reimbursement of Expenses Incurred for the Period from October 1, 2024 Through October 31, 2024 Filed by James L. Bromley on behalf of Sullivan & Cromwell LLP. (Bromley, James)
11/27/20241610Statement Notice of Distribution by SVB Financial Trust to Holders of Class A-1 Trust Units and Class A-2 Trust Units filed by James L. Bromley on behalf of SVB Financial Trust. (Bromley, James)
11/27/20241609Affidavit of Service of Christine Porter Regarding Notice of Effective Date (related document(s)[1563]) filed by Kroll Restructuring Administration LLC Claims Agent.(Steele, Benjamin)