SVB Financial sues US FDIC to recover $1.93 billion


(Reuters) – SVB Financial Group, which formerly owned bankrupt Silicon Valley Bank has sued the U.S. Federal Deposit Insurance (FDIC)Corporation in a bid to recover $1.93 billion, according to a court filing on Sunday.

SVB Financial owned Silicon Valley Bank before it was seized by the regulator in March, and the firm is attempting to sell its remaining assets in bankruptcy.

FDIC did not immediately respond to a Reuters request for comment.

(Reporting by Urvi Dugar in Bengaluru; Editing by Krishna Chandra Eluri)

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