1If the bankruptcy assets are not sufficient to continue the bankruptcy proceedings, the bankruptcy liquidator shall submit a request to FINMA to discontinue the proceedings.
2FINMA shall continue the proceedings in exceptional cases, in particular where there is a special interest in doing so, even if the bankruptcy assets are not sufficient.
3If FINMA intends to discontinue proceedings, it shall give public notice of this fact, stating that it will continue them if a creditor can provide security for the costs of the proceedings not covered by the bankruptcy assets within a specified deadline. FINMA shall set the deadline as well as the type and amount of the security.
4If the required security is not provided within the deadline, all pledgees may demand realisation of the assets pledged in their favour by FINMA within a deadline specified by the latter. FINMA shall instruct a bankruptcy liquidator to proceed with the realisation.
5In the case of legal entities, FINMA shall order the realisation of assets that are not subject to a demand for realisation from a pledgee within the specified deadline. Any proceeds remaining after the realisation costs and any encumbrances attached to individual assets are covered go to the federal government once the costs incurred by FINMA have been covered.
6Where bankruptcy proceedings against individuals are discontinued, the debt enforcement procedure is governed by Article 230 paragraphs 3 and 4 DEBA1.