Tag : bankruptcies

Banking Economy Markets News

SVB Financial Group, Parent Of SVB Bank, Declares Bankruptcy.

Fintech Staff Writer
SVB Financial Group has petitioned the United States Bankruptcy Protection Court for the Southern District of New York for a court-supervised Chapter 11 reorganisation. The business looks to sell its assets. The funds and general partner companies of SVB Securities and SVB Capital were not included in the Chapter 11......
Banking Fintech News

COVID-19 Pandemic Spurs Wave of Mega Corporate Bankruptcies

Fintech News Desk
Mega bankruptcy filings were concentrated in two industry sectors—mining, oil and gas; and retail trade—as oil prices collapsed and remain depressed and traditional retailers faced an increasingly difficult environment. The economic disruptions that the COVID-19 pandemic spurs has sparked worldwide have triggered a wave of large corporate bankruptcy filings in......