Bankruptcy Code

Bankruptcy is a legal declaration that allows some debtors to discharge their unsecured debts. The text of this statute is provided as general information to the public. It may be amended, revised, or rescinded at any time without notice. This information is not intended to be legal advice. For more information, please see our disclaimer.

11 U.S.C. § 305. Abstention

(a) The court, after notice and a hearing, may dismiss a case under this title [11 USCS §§ 101 et seq.], or may suspend all proceedings in a case under this title [11 USCS §§ 101 et seq.], at any time if--
(1) the interests of creditors and the debtor would be better served by such dismissal or suspension; or
(2) (A) a petition under section 1515 [11 USCS § 1515] for recognition of a foreign proceeding has been granted; and
(B) the purposes of chapter 15 of this title [11 USCS §§ 1501 et seq.] would be best served by 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 by the court of appeals under section 158(d), 1291, or 1292 of title 28 or by the Supreme Court of the United States under section 1254 of title 28.