LIQUIDATION OF SILICON VALLEY BANK

On 13 June 2023, a collective of depositors of the Silicon Valley Bank (Cayman Islands Branch) (the “Company”) filed a petition with the Court seeking an order that the Company be wound up and liquidators be appointed under the provisions of the Companies Act (2023 Revision) on the grounds that the Company is insolvent.

On 29 June 2023, the Grand Court of the Cayman Islands appointed Andrew Childe and Michael Pearson of FFP limited in the Cayman Islands and Niall Ledwidge from Stout in New York, United States as Joint Official Liquidators (the “Liquidators”) of the Company.

If you have an account with the Silicon Valley Bank (Cayman Islands Branch) or are otherwise a creditor of the Company, you are encouraged to monitor this site to keep abreast of the liquidation proceedings.