On Friday, March 10, 2023, the FDIC was appointed a receiver of Silicon Valley Bank (SVB). This receivership has far-reaching effects on companies across many sectors. Our team of experts from Sidley discussed points of consideration for companies interfacing with a bank in receivership. They also examined the LSTA’s Defaulting Lender Provision and discussed what parties can do if SVB is considered a defaulting lender in their syndicate. Presented by Thomas R. Califano, Michael D. Lewis, Ellen P. Pesch, and Joshua W. Thompson, all Partners from Sidley Austin LLP.
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.