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

¹Claims fall­ing due to the bank­ruptcy as­sets are col­lec­ted by the bank­ruptcy li­quid­at­or, through debt en­force­ment if ne­ces­sary.

²The bank­ruptcy li­quid­at­or shall check claims on the part of the bank­ruptcy as­sets for mov­able as­sets in the cus­tody or co-cus­tody of a third party or land entered in the Land Re­gister in the name of a third party.

³He or she shall also check if leg­al trans­ac­tions un­der Art­icles 285 to 292 DEBA¹ may be con­tested. The dur­a­tion of any pri­or re­struc­tur­ing pro­ceed­ings or any pri­or or­der for pro­tect­ive meas­ures un­der Art­icle 26 para­graph 1 let­ters e-h BankA are not taken in­to ac­count in the dead­lines un­der Art­icles 286 to 288 DEBA.

⁴If the bank­ruptcy li­quid­at­or in­tends to pur­sue a con­tested claim in ac­cord­ance with para­graph 2 or 3 through the ac­tions pro­cess, he or she shall ob­tain ap­prov­al and ap­pro­pri­ate in­struc­tions from FINMA.

⁵If the bank­ruptcy li­quid­at­or does not file a claim, he or she shall give the cred­it­ors the op­por­tun­ity to de­mand as­sign­ment with­in the mean­ing of Art­icle 260 para­graphs 1 and 2 DEBA or to real­ise the claims in ques­tion and any oth­er en­ti­tle­ments un­der Art­icle 31.

⁶If he or she gives the cred­it­ors the op­por­tun­ity to de­mand as­sign­ment, he or she shall set them an ap­pro­pri­ate dead­line.

⁷Real­isa­tion in ac­cord­ance with Art­icle 31 is not per­mit­ted in the case of con­tested claims un­der para­graph 3 or re­spons­ib­il­ity claims un­der Art­icle 39 BankA.