Silvergate Capital files for Chapter 11 bankruptcy in Delaware

The parent company of Silvergate Bank has listed assets ranging from $100 million to $500 million and liabilities between $10 million and $50 million.

Silvergate Capital Corporation, the parent company of Silvergate Bank, filed for Chapter 11 bankruptcy in the US Bankruptcy Court for the District of Delaware. 

According to a filing on Sept. 17, the company has listed assets between $100 million and $500 million and liabilities ranging from $10 million to $50 million. The bankruptcy petition includes Silvergate’s two affiliates, Silvergate Liquidation Corporation and Spring Valley Lots, LLC.

Silvergate’s reorganization plan, filed as part of its Chapter 11 bankruptcy, proposes fully paying several types of debts, including administrative fees, taxes, and other high-priority claims like secured loans and professional fees. 

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