Facts
Several debt enforcement proceedings have been initiated against F. On 26 January 1988, the debt collection office in Flawil attached, among other things, the debtor's share of an undistributed estate, including his share in the real estate that is part of it. Three creditors from attachment group no. 1258 having requested the realization, the debt collection office contacted the presidency of the District Court of Untertoggenburg, as the lower cantonal supervisory authority, on 16 March 1988 to determine the realization procedure.
The lower cantonal supervisory authority invited the creditors and co-heirs to express their views on the further course of the proceedings, referring to Art. 9 et seq. of the Ordinance on the Sale of Attached Assets, which provide for the search for an amicable agreement in the first place. Bank A. and another creditor submitted their proposals to the supervisory authority, while the debtor invited it to make proposals first.
On 11 April 1988, the lower supervisory authority decided to waive the realization of the attached co-ownership share.
Considerations
The cantonal supervisory authority partially upheld Bank A.'s appeal and ordered the lower supervisory authority to carry out the realization procedure concerning the attached estate share for the creditors of groups no. 1258, no. 1190 and no. 1183, in accordance with its considerations.
Bank A. has filed an appeal against this decision with the Debt Enforcement and Bankruptcy Chamber of the Federal Supreme Court. It requests that it be established that the potential proceeds from the realization of the attached estate share accrue exclusively to it.
The Debt Enforcement and Bankruptcy Chamber of the Federal Supreme Court considers that the cantonal supervisory authority was only competent to determine…