SVB Financial Group, the holding firm of the bankrupt American financial institution Silicon Valley Bank, introduced on the seventeenth that it had filed for chapter underneath Article 11 of the Federal Bankruptcy Law, which corresponds to Japan’s civil rehabilitation legislation, and filed for chapter. .
Known for lending to startup firms, Silicon Valley Bank, which went bankrupt on the tenth, is a financial institution underneath the SVB Financial Group, and following Silicon Valley Bank, the holding firm additionally went bankrupt.
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