The Bankruptcy Code and its predecessor statutes have long permitted bankruptcy trustees (or their equivalents) to claw back preferences, which involve transfers made on preexisting debts.
Does First Republic represent the beginning of the end of a banking crisis or is it merely the end of the beginning stage of banking turmoil set in motion by the run on Silicon Valley Bank (SVB)?
Procedurally, Judge Isgur's rulings denied in part and granted in part motions for summary judgment, permitting certain claims to proceed to trial beginning on January 25, 2024.