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FDIC wins ruling against SVB Financial deposit claim

The ruling prevents distressed-debt investors from recovering on a $1.71 billion claim tied to Silicon Valley Bank deposits, according to WSJ Markets.

Reported · Written up by our desk · Inflation

A federal judge ruled in favor of the FDIC in a dispute over a claim related to Silicon Valley Bank, according to WSJ Markets.

The decision found that creditors of SVB Financial are not entitled to the specific claim against the regulator, wiping out a bet by distressed-debt investors.

WSJ Markets reported the contested claim is for $1.71 billion in connection with SVB deposits.

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