IN RE USN COMMUNICATIONS, INC.

Bankruptcy Nos. 99-383 to 99-395(PJW). Adversary No. 00-1948.

280 B.R. 573 (2002)

In re USN COMMUNICATIONS, INC., et al., Debtors. Scott Peltz, as Trustee of the USN Communications Liquidating Trust, Plaintiff, v. Worldnet Corporation, Defendant.

United States Bankruptcy Court, D. Delaware.

June 27, 2002.


Attorney(s) appearing for the Case

Mark Minuti, Tara L. Lattomus, Saul Ewing, LLP, Wilmington, DE, David B. Horoff, Frank W. DiCastri, Foley & Lardner, Chicago, IL, for Scott Peltz, Liquidating Trustee.

Charlene D. Davis, Ashley Stitzer, The Bayard Firm, Wilmington, DE, Kenneth A. Michaels, Jr. Bauch & Michaels, Chicago, IL, for Worldnet Corporation.


MEMORANDUM OPINION

PETER J. WALSH, Chief Judge.

This is the Court's ruling following the trial on a complaint ("Complaint") by Scott Peltz ("Plaintiff" or "Trustee"), Trustee for the USN Communications Liquidating Trust, against Worldnet Corporation ("Worldnet" or "Defendant") to recover avoidable transfers.1 For the reasons discussed below, I will find in favor of Plaintiff.

BACKGROUND

Worldnet is in the business...

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