All being well, this discussion will have been superfluous. A reliable contact within GAMTA informs me that the CAA are currently formulating plans to make it a condition of approval that customers advanced payments are ring-fenced.
If the FTO cannot prove, to SRG Finance Department's satisfaction, that their customers' money is secure in the event of the company going under, they will not get approval.
Of course, the FTO lobby is strong and SRG, historically, is weak so we will just have to wait and see.