Article 233 of Commercial Code

1 - The sale shall be conducted at the time and place designated by the President of the Court of First Instance, and by public auction unless the President orders another method to be followed. If the pledged thing is an instrument traded on the securities market, the President shall order its sale on that market through a broker. 2 - The pledgee creditor shall recover, by way of preferential right, his debt of principal, interest and expenses from the proceeds of the sale.