https://techcrunch.com/2023/03/17/svb-financial-files-for-ch-11-bankruptcy-protection-says-it-has-2-2b-in-liquidity/

One week after trading was halted for SVB Financial and regulators took control of the holding company for Silicon Valley Bank and other subsidiaries, SVB 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 SVB 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 SVB Securities and SVB Capital, and more.

As part of that process, SVB Financial also taking the wraps over some of the financial state of the holding company, which had a market cap of about $12 billion before shares plunged last Friday as depositors made a run on the bank. (Trading was halted at the point that the market cap was slashed to about half of that $12 billion.)