Page:United States Statutes at Large Volume 92 Part 2.djvu/1281

 PUBLIC LAW 95-598—NOV. 6, 1978.

(2) order turnover of the property of such estate, or the proceeds of such property, to such foreign representative; or (3) order other appropriate relief, (c) In determining whether to grant relief under subsection (b) of this section, the court shall be guided by what will best assure an economical and expeditious administration of such estate, consistent with— (1) just treatment of all holders of claims against or interests in such estate; (2) protection of claim holders in the United States against prejudice and inconvenience in the processing of claims in such foreign proceeding; (3) prevention of preferential or fraudulent dispositions of property of such estate; (4) distribution of proceeds of such estate substantially in accordance with the order prescribed by this title; (5) comity; and (6) if appropriate, the provision of an opportunity for a fregh start for the individual that such foreign proceeding concerns. § 305. Abstention (a) The court, after notice and a hearing, may dismiss a case under this title, or may suspend all proceedings in a case under this title, at any time if— (1) the interests of creditors and the debtor would be better served by such dismissal or suspension; or (2)(A) there is pending a foreign proceeding: and (B) the factors specified in section 304(c) of this title warrant such dismissal or suspension. (b) A foreign representative may seek dismissal or suspension under subsection (a)(2) of this section. (c) An order under subsection (a) of this section dismissing a case or suspending all proceedings in a case, or a decision not so to dismiss or suspend, is not reviewable by appeal or otherwise. § 306. Limited appearance An appearance in a bankruptcy court by a foreign representative in connection with a petition or request under section 303, 304, or 305 of this title does not submit such foreign representative to the jurisdiction of any court in the United States for any other purpose, but the bankruptcy court may condition any order under section 303, 304, or 305 of this title on compliance by such foreign representative with the orders of such bankruptcy court.

92 STAT. 2561 -

11 USC 305. Notice and hearing, -

11 USC 306.

SUBCHAPTER II—OFFICERS § 321. Eligibility to serve as trustee 11 USC 321. (a) A pereon may serve as trustee in a case under this title only if such person is— (1) an individual that is competent to perform the duties of trustee and, in a case under chapter 7 or 13 of this title, resides or Post, pp. 2604, has an office in the judicial district within which the case is pend- 2645. ing, or in any judicial district adjacent to such district; or (2) a corporation authorized by such corporation's charter or bylaws to act as trustee, and, in a case under chapter 7 or 13 of this title, having an office in at least one of such districts.

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