T.C. Memo. 1995-531                                               
                                       UNITED STATES TAX COURT                                             
                            ANTHONY TEONG-CHAN GAW AS TRANSFEREE OF                                        
                            RADCLIFFE INVESTMENT LTD., Petitioner v.                                       
                         COMMISSIONER OF INTERNAL REVENUE, Respondent                                      
                              ANTHONY TEONG-CHAN GAW AS TRANSFEREE                                         
                           OF BOT BUILDING CORPORATION, Petitioner v.                                      
                         COMMISSIONER OF INTERNAL REVENUE, Respondent                                      
                  Docket Nos. 17906-92, 18268-92.      Filed November 9, 1995.                             
                  John M. Youngquist, Lemoine Skinner III, and Donald L.                                   
            Feurzeig, for petitioner.                                                                      
                  Mary E. Wynne and Thomas G. Schleier, for respondent.                                    
                                          Table of Contents                                                
                                                                                          Page             
            FINDINGS OF FACT ......................   7                                                    
            I. General and Background .................   7                                                
                  A. Radcliffe .....................   7                                                   
                  B. BOT ........................  9                                                       
                  C.     Certain Foreign Corporations That Pledged                                         
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