The Federal Deposit Insurance Corporation convinced a federal court to pause Silicon Valley Bank’s insurance lawsuit against Chubb and W.R. Berkley units over $73 million in loans the bank lost from a private equity manager’s fraud scheme.
Judge Terrence W. Boyle of US District Court for the Eastern District of North Carolina granted FDIC’s motion to stay the case March 29, pausing it for 90 days in an order docketed Thursday. SVB held crime insurance policies worth a total of $60 millioin with Federal Insurance Co. and Berkley Regional insurance Co. It sued the carriers in January after they denied ...
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