SVB Financial Group Stuck in Bankruptcy Stalemate With FDIC

SVB Financial Group, the former parent company of failed Silicon Valley Bank, is burning through cash while it struggles to gain access to records it says are necessary to move forward in bankruptcy.

The firm is sparring with the Federal Deposit Insurance Corp. over access to those records — things like minutes from board meetings — as well as $2 billion the agency seized after the bank failed in March.

“There’s a category of material that the FDIC claims to have some rights over which the debtor also believes is its property,” Jim Bromley, an attorney representing ...