Silicon Financial Group, the parent company of America’s Silicon Valley Bank, has now pleaded to save itself from being ‘bankrupt’. For this, he has taken the support of the Bankruptcy Protection Act.
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Ab mohe ‘bankrupt’ na hona dijo… Yes, America’s sunken Silicon Valley Bank has made a similar request. On Friday, Silicon Valley Bank’s parent company Silicon Financial Group appealed to a court-supervised restructuring committee to save itself from bankruptcy.
Silicon Financial Group has requested this committee formed under Chapter-11 of the Bankruptcy Security Act to buy its properties. This step has been taken by the parent company at a time when the US regulators have seized the assets and deposits of Silicon Valley Bank.
(This news is being updated)