Banking,
Corporate,
Government
Aug. 12, 2024
FDIC must face SVB suit for $2B
U.S. District Judge Beth Labson Freeman in San Jose was skeptical of the federal agency's argument that the bank's claims dealt with insurance coverage, which would deprive the court of jurisdiction.
The Federal Deposit Insurance Corp. cannot duck a lawsuit by Silicon Valley Bank claiming that the agency withheld nearly $2 billion in funds after the bank collapsed last spring in one of the largest bank failures in U.S. history.
Although the FDIC defeated most of Silicon Valley Bank's claims, U.S. District Judge Beth Labson Freeman in San Jose was not entirely convinced by the agency's argument that the bank's claims dealt with insurance coverage, which would depriv...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In