SVB Financial SIVB , the former parent of Silicon Valley Bank, on Monday said it’s received “significant interest” from prospective buyers in a reorganization effort underway with financial adviser Centerview Partners LLC. The company also said it filed “first-day motions” in U.S. Bankruptcy Court to support operations of SVB Capital and SVB Securities. On March 14, SVB Financial Group filed a voluntary petition for a court-supervised reorganization under Chapter 11 of the U.S. bankruptcy code, after a run on deposits caused Silicon Valley Bank to fail. Silicon Valley Bank now operates as Silicon Valley Bridge Bank, N.A. under the jurisdiction of the Federal Deposit Insurance Corp., and is no longer affiliated with SVB Financial.
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