Ordinance of the Swiss Financial Market Supervisory Authority on the Insolvency of Banks and Securities Dealers

¹The bank­ruptcy li­quid­at­or checks the sur­render of as­sets claimed by third parties.

²If he or she be­lieves a sur­render claim to be jus­ti­fied, the bank­ruptcy li­quid­at­or shall of­fer the cred­it­ors the op­por­tun­ity to de­mand as­sign­ment of their right to ob­ject un­der Art­icle 260 paras. 1 and 2 DEBA¹ and set a reas­on­able dead­line for this pur­pose.

³If he or she be­lieves a sur­render claim to be un­jus­ti­fied, or if cred­it­ors have de­man­ded as­sign­ment of their right to ob­ject, the bank­ruptcy li­quid­at­or shall set the per­son mak­ing the claim a dead­line for fil­ing an ac­tion be­fore the court at the bank­ruptcy ven­ue. If the dead­line is al­lowed to ex­pire, the sur­render claim is re­garded as waived.

⁴In the case of as­sign­ment, the ac­tion must be filed against the as­sign­ee cred­it­ors. The bank­ruptcy li­quid­at­or shall provide the third party with the de­tails of the as­sign­ee cred­it­ors when set­ting the dead­line.