In re Global Technovations, Inc. (I)

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June 30, 2010

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3651 Household Audio and Video Equipment
334310 Audio and Video Equipment Manufacturing
bankruptcy
In re Global Technovations, Inc. (I)
2010 WL 2671706 (Bkrtcy. E.D. Mich.)
US
Federal Court
Federal
United States Bankruptcy Court
Van Conway (debtor); Jeffrey Risius (defendants)
Tucker

Summary

Bankruptcy court voids $25 million acquisition based on valuations that used historic, 12 months' earnings prior to closing and rejecting expert who relied substantially on inflated, unreasonable management projections.
In re Global Technovations, Inc. (I)
PDF, Size: 304 KB

See Also

Insolvency Analysis Hinges on Reasonableness of Projections

Legal and Court Case Update
September 2010

Bankruptcy court voids $25 million acquisition based on valuations that used historic, 12 months' earnings prior to closing and rejecting expert who relied substantially on inflated, unreasonable management projections.

This article also appears in:
Business Valuation & Bankruptcy Compendium, Third Edition
BVR Guide to Management Projections and Business Valuation: Analysis and Case Law