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Bankruptcy Court entered its Order Confirming the Debtors’ Joint
Non-Adverse Fifth Amended Plan of Reorganization.7
Following the issuance of the notice of deficiency for 1993
on November 27, 1995, and the issuance of the notice of
deficiency for 1992 on December 8, 1995, petitioners timely filed
their respective petitions with this Court, commencing this case.
On September 9, 1996, the Bankruptcy Court entered an order
granting petitioners’ motion to convert their chapter 11
proceeding to a chapter 7 proceeding. As a result, on May 12,
1997, after being notified of petitioners’ pending chapter 7
proceeding before the Bankruptcy Court, we stayed the proceedings
in this case.
On September 29, 1997, the Bankruptcy Court entered an Order
of Discharge releasing petitioners from all dischargeable debts.
As a result, after being notified by the parties of the discharge
order entered in petitioners’ bankruptcy proceeding, we ordered
this case restored to the general docket on March 26, 1998.
On April 8, 1998, we entered an order setting this case for
trial during this Court’s trial session beginning on September 8,
1998, in Los Angeles, California.
7This Oct. 5, 1994, order of the Bankruptcy Court had the
effect of lifting the automatic stay in petitioners’ ch. 11
bankruptcy proceeding. Moody v. Commissioner, 95 T.C. 655, 658-
664 (1990).
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