Esmat A. and Sylvia G. Zaklama - Page 6

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               (c) Except as provided in subsections (d), (e),                        
               and (f) of this section--                                              
                         (1) the stay of an act against property of the               
                    estate under subsection (a) of this section continues             
                    until such property is no longer property of the                  
                    estate; and                                                       
                         (2) the stay of any other act under subsection (a)           
                    of this section continues until the earliest of--                 
                              (A) the time the case is closed;                        
                              (B) the time the case is dismissed; or                  
                              (C) if the case is a case under chapter 7 of            
                         this title concerning an individual or a case                
                         under chapter 9, 11, 12, or 13 of this title, the            
                         time a discharge is granted or denied.                       
          Thus, unless relief from the automatic stay is granted by order             
          of a bankruptcy court (see 11 U.S.C. sec. 362(d) (1988)), the               
          automatic stay generally remains in effect until the earliest of            
          the closing of the case, dismissal of the case, or the grant or             
          denial of a discharge.  11 U.S.C. sec. 362(c)(2) (1988); see also           
          Allison v. Commissioner, supra at 545; Smith v. Commissioner, 96            
          T.C. 10, 14 (1991); Neilson v. Commissioner, 94 T.C. 1, 8 (1990).           
               There is no dispute in these cases that the automatic stay             
          became operative on April 5, 1993--the date that petitioners                
          filed their chapter 11 bankruptcy petition.  The question is                
          whether the automatic stay was terminated in these cases as a               
          consequence of the bankruptcy court's order of dismissal issued             
          March 21, 1995.                                                             







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