SVB Financial Trust v. Federal Deposit Insurance Corporation, as Receiver for Silicon Valley Bank and Silicon Valley Bridge Bank, N.A.

1 2 3 UNITED STATES DISTRICT COURT 4 NORTHERN DISTRICT OF CALIFORNIA 5 SAN JOSE DIVISION 6 7 SVB FINANCIAL TRUST, Case No. 24-cv-01321-BLF

8 Plaintiff, ORDER DENYING PLAINTIFF'S 9 v. MOTION THAT THE FDIC-R PLACE $1.71 BILLION IN ESCROW 10 FEDERAL DEPOSIT INSURANCE CORPORATION, AS RECEIVER FOR [Re: ECF No. 226, 227] 11 SILICON VALLEY BANK, et al.,

12 Defendants.

13 14 Before the Court is Plaintiff SVB Financial Trust’s (“Trust”) request that the Court order the 15 Federal Deposit Insurance Corporation as receiver for Silicon Vallery Bank (“FDIC-R1”) to place 16 the $1.71 billion owed under the Trust’s breach of contract claim in an interest-bearing escrow 17 account until FDIC-R1’s Preserved Defenses are resolved. ECF 226 (“Mot.”). FDIC-R1 filed an 18 Opposition. ECF 227 (“Opp.”). For the reasons below, the Court DENIES the Trust’s request. 19 I. BACKGROUND 20 On March 5, 2024, the Trust1 filed this action against FDIC-R1 and FDIC as the receiver for 21 Silicon Valley Bridge Bank (“FDIC-R2”) …