SVB Financial Group, the former owner of the bankrupt Silicon Valley Bank (SVB), has sued a financial regulator in the United States in a bid to claw back more than $1.9bn.In a lawsuit, SVB Financial said the US Federal Deposit Insurance Corporation (FDIC) violated US bankruptcy law by keeping $1.93bn in cash after taking over the group’s banking arm earlier this year.The FDIC’s failure to return the funds to SVB Financial was “impeding its ability to reorganise” and “causing harm to the Debtor on a continuous basis”, the group said in the lawsuit filed in New York on Sunday, according to the Financial Times.
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