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IN RE GLOBAL TECHNOVATIONS, INC.

Bankruptcy Nos. 02-40447, 01-64771. Adversary No. 03-5078.

431 B.R. 739 (2010)

In re GLOBAL TECHNOVATIONS, INC., et al., Debtors. In re Onkyo America, Inc., Debtor. Global Technovations, Inc. and Kenneth Nathan, Liquidating Agent for Onkyo America, Inc., Plaintiffs, v. Onkyo U.S.A. Corporation, Onkyo Europe Electronics Gmbh, Onkyo Malaysia Sdn. Bdh., Onkyo Electric (Malaysia) Sdn. Bdh., and Onkyo Corporation, Defendants.

United States Bankruptcy Court, E.D. Michigan, Southern Division.

July 2, 2010.

Attorney(s) appearing for the Case

Deborah Kovsky-Apap, Robert S. Hertzberg, Pepper Hamilton LLP, Detroit, MI, for Plaintiffs.

Donald J. Hutchinson, Detroit, MI, for Defendants.

AMENDED TRIAL OPINION**

THOMAS J. TUCKER, Bankruptcy Judge.

In this adversary proceeding, Plaintiff Global Technovations, Inc. ("GTI") seeks to avoid, as a fraudulent transfer under 11 U.S.C. § 544(b) and Florida law, a $13 million payment it made and $12 million in obligations it incurred, to purchase 5,900 shares of common stock of Onkyo America, Inc. GTI purchased the...

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