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RIYADH: Silicon Valley Financial institution’s former proprietor could must take out a chapter mortgage amid uncertainty concerning the US Federal Deposit Insurance coverage Firm’s seizure of $2 billion in money from the corporate, its legal professional stated Wednesday.
SVB Monetary has about $180 million readily available and isn’t in “imminent hazard” of operating out of money legal professional James Bromley stated at a court docket listening to earlier than US Chapter Choose Martin Glenn in Manhattan, who’s overseeing the corporate’s Chapter 11 proceedings.
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