Silicon Valley Bank (Canada)
Liquidation
Page last updated: May 3, 2023
This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.
On March 15, 2023, the Ontario Superior Court of Justice (Commercial List) (the “Court”) issued an order (the “Winding-Up Order”) which, among other things, (i) appointed PricewaterhouseCoopers Inc., LIT as liquidator (the “Liquidator”), without security, in respect of the winding-up of the business in Canada of Silicon Valley Bank (“SVB”) (the “Business”), and of the assets, as defined in the Bank Act, (together with the Business, the “Property”) and (ii) authorized the Liquidator to sell convey, transfer, lease, assign or otherwise realize upon the Property or any part of it.
Status of File as of May 2, 2023
On May 1, 2023, the Court issued an order (the “SSP Approval Order”) approving the sale and solicitation process (the “SSP”) and authorizing and directing the Liquidator to conduct the SSP. More information about the SSP is available on the Sale and Solicitation Process page.[TM(1]
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