Art. 39 Assets discovered after the fact
1If assets or other legal claims that have not previously been included in the bankruptcy assets are discovered within 10 years of the bankruptcy proceedings being completed, FINMA shall appoint a bankruptcy liquidator to restart the bankruptcy proceedings without further formalities. 2Assets discovered after the fact or legal claims shall be distributed to creditors who suffered a loss and for whom the bankruptcy liquidator has the details needed to make the payout. The bankruptcy liquidator may ask creditors to provide up-to-date details, stating that these are required in connection with their claim. He or she shall set a reasonable deadline for this purpose. 3Where it is clear that the costs incurred through restarting the bankruptcy proceedings will not be covered or will only be marginally exceeded by the expected proceeds from realising the assets discovered after the fact, FINMA may refrain from restarting the proceedings. In such cases, it shall pass the assets discovered after the fact to the federal government. |