SVB Financial Group, the former owner of Silicon Valley Bank (SVB), has sued the Federal Deposit Insurance Corporation (FDIC) in a bid to recover $1.93 billion. SVB Financial said the regulator violated US bankruptcy law by retaining the cash after assuming control of SVB’s banking arm earlier this year.

SVB Financial said the FDIC had failed to provide any valid reason why the money should not be returned despite multiple opportunities to do so. The lawsuit, filed in New York, asserts that the FDIC’s refusal to return the funds is hindering restructuring efforts and causing ongoing harm to the company.

“These continuing violations are having a significant impact on the Debtor,” the company wrote in its suit. “The $1.93 billion in Account Funds is the core estate asset. The Debtor’s lack of access to these Account Funds is impeding its ability to reorganize and causing harm to the Debtor on a continuous basis.”

SVB Financial argues that “immediate receipt” of the funds is crucial to its ability to come up with a plan that “maximizes the value of the Debtor’s tax attributes,” and adds that the funds should be generating more than $100 million in annual interest.

The FDIC has not yet provided a response to the lawsuit. The regulator had taken over the assets of SVB in March, which marked the largest bank collapse since the 2008 financial crisis when Washington Mutual faced a similar fate.

SVB Financial is attempting to sell its remaining assets in bankruptcy.

Last week, a US bankruptcy judge allowed the company to sell its investment banking business to a group led by the division’s former CEO, Jeff Leerink, and is backed by funds managed by the Baupost Group.

The deal includes an equity financing of up to $100 million from Baupost along with a $30 million financing commitment from Leerink’s team.