Key legal question
Whether the supervisory authorities could order a new auction of the machines together with the pledged property in Entlebuch.
Extracted holding
No. Because the machines had already been auctioned in Interlaken without challenge, the bankruptcy estate was civilly bound to deliver them, and the supervisory authorities could not reverse that sale or require a second liquidation.
Extracted reasoning
The prior auction had definitively transferred ownership to the purchasers. The question how the machines were to be realized belonged to the bankruptcy administration's own discretion and was not subject to supervisory review.