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had been dissolved, they argue, "a judgment against the same
would be a legal and factual impossibility." Petitioners' own
actions regarding HTC belie this claim. In September 1990, after
HTC had been dissolved, petitioners filed for personal
bankruptcy. HTC Indus., ASBCA No. 40562, 93-1 B.C.A. (CCH) par.
25,560 affd. on reconsideration, 93-2 B.C.A. (CCH) par. 25,701
(1992). In their petition for bankruptcy, they listed as
"personal property" the litigation "Couch v. Army, ASBCA No.
40562" with a market value of $2,000,000. Id. The Bankruptcy
Court order was not issued until March 19, 1991. In July 1991,
the Couchs amended their Bankruptcy Petition to read: "Couch v.
Army ASBCA #40562. Fair market value is unknown. Property
claimed exempt under 11 U.S.C. 522(d)(1) and (5)." Id. The
Couchs' actions indicate that through July 1991 they believed the
claim held by HTC and pursued by them on HTC's behalf had
substantial value. Their actions contradict their claim of
worthlessness for 1990.
Subsequent events support the actions of petitioners. See
American Offshore, Inc. v. Commissioner, supra at 597. In its
decision, the Board of Contract Appeals observed that the
property of HTC had not been distributed. Although the Board did
not give the property specific value, and even noted that the
property may have had no value, the Board ordered the parties to
negotiate an equitable distribution of what remained. The
Board's order indicates its belief that, as late as 1992, the
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