SVB Financial Securities Holders Bemoan Bankruptcy Plan Outline

A group of SVB Financial Group’s securities holders accusing the company of costing them billions by mismanaging its risks challenged its proposed reorganization plan disclosures, saying they lack information on legal protections for insiders and affiliated entities.

The securities creditors, who are pursuing a putative class action against the company, hold senior notes and preferred equity in SVB Financial. The former Silicon Valley Bank parent has been battling the Federal Deposit Insurance Corp., other government entities, and creditors since the bank collapsed last year.

A list of insiders and non-bankrupt entities with ties to SVB Financial that would receive litigation ...