Bankrupt SVB Financial Aims To Pause Two UBS Arbitration Cases

SVB Financial Group has asked a bankruptcy court to pause upcoming arbitration cases UBS Securities has brought against its broker-dealer subsidiary so it can focus on a potential restructuring.

A 120-day pause of two arbitration cases against non-bankrupt subsidiary SVB Securities would allow senior management to dedicate themselves to stabilizing itself and pursuing a sale, the bankrupt former parent company to Silicon Valley Bank said in a complaint filed Thursday in the US Bankruptcy Court for the Southern District of New York.

The request comes as SVB Financial considers options over how to potentially reorganize itself and sell its subsidiaries, ...