News & Analysis as of

Receivership Letter of Credit

Vinson & Elkins LLP

Be Careful with Letters of Credit

Vinson & Elkins LLP on

On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank, Santa Clara, California (“SVB”) and subsequently appointed the Federal Deposit Insurance Corporation (“FDIC”) as...more

Bowditch & Dewey

Silicon Valley Bank Closure Impact on Lease Security

Bowditch & Dewey on

The impact of the California Department of Financial Protection and Innovation taking possession of Silicon Valley Bank (SVB) and appointing the Federal Deposit Insurance Corporation as receiver for SVB is receiving thorough...more

Buchalter

Advice to Landlords Holding Letters of Credit Issued by Silicon Valley Bank, and Landlords Where Silicon Valley Bank is a Tenant

Buchalter on

While unexpected, the closure by California regulators of, and the appointment of the Federal Deposit Insurance Corporation (“FDIC”) as receiver for, Silicon Valley Bank (“SVB”) is an event that is contemplated by most...more

Allen Matkins

Legal and Business Strategies Regarding FDIC Takeover of Silicon Valley Bank

Allen Matkins on

This alert is meant to supply some valuable information for landlords that currently hold tenant letters of credit from Silicon Valley Bank (“SVB”). SVB was closed this morning by the California Department of Financial...more

Pillsbury Winthrop Shaw Pittman LLP

Situs of Debt Owed under Letters of Credit

Supreme Court of England clarifies terms for enforcement of international arbitral awards in Taurus Petroleum Limited v State Oil Marketing Company of the Ministry of Oil, Republic of Iraq [2017] UKSC 64 - The English...more

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