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here's your Daily Crunch.

One week after trading was halted for S. V.

Financial and Regulators took control of the holding company for Silicon Valley Bank and other subsidiaries,

S. V. Financial has taken the next inevitable step.

Today it announced that it has formally filed for Chapter 11 bankruptcy protection in the U.S. bankruptcy court for the Southern District of New York.

This will mean that S.V. financial can apply and plans to apply to the courts to resume activities while finding buyers for its assets,

which include going ahead with its plans to sell off S. V. Securities and S. V. Capital and more.

There have been a lot of hiccups in the search for a buyer for the banking division of

S. V.

Which post-fed takeover is now called Silicon Valley Bridge Bank.

That process is being overseen by regulators. In contrast, the group said it had significant

interest for S. V. securities and S. V. Capital. These two still sit under S. V. Financial, but they are technically different legal entities and are therefore

not included in the Chapter 11 filing, nor in the sale of the Bridge Bank.

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