UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

^{______________}

FORM 8-K

~~Current Report~~______________

~~Pursuant to~~CURRENT ~~Section 13 or 15(d) of~~REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: (Date of earliest event reported) : ~~June 16~~ August 24, 2009

~~Commission File No. 000-49628~~______________

TELEPLUS WORLD, CORP.

(Exact name of registrant as specified in its charter)

	Nevada		90-0045023
	(State or other jurisdiction of		(IRS Employer Identification No.)
	incorporation or organization)

^{______________}

Commission File No. 000-49628


Nevada		90-0045023
(State or Other Jurisdiction		(I.R.S. Employer
of Incorporation)		Identification No.)

4960 NW 165th Street, Unit B24, Miami Lakes, Fl 33014

(Address of principal executive offices)

(305) 624-5714

(Issuer telephone number)

(Former Name and Address)

Check the appropriate box below if the Form 8-1-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

~~ITEM 8.01 Other~~¨ ~~Items~~Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

On¨ ~~June 16,~~Soliciting ~~2009,~~material the Company’s operating subsidiaries’ first secured creditors, Steve Kerekes, Melanie Kerekes, Jim Oattes, Grace Debrandere, Jim Reddon, Monica Reddon, Tom Davis and Jane Davis filed an application for an order pursuant to ~~section~~ ~~47(1)~~Rule ~~of the Bankruptcy and Insolvency Act R.S.C. 1985, c. B~~14a-3,12 ~~as amended,~~under ~~with~~ the ~~Ontario~~Exchange ~~Superior~~Act Court of Justice in Ontario, Canada demanding that the Company’s Canadian operating subsidiaries which include TelePlus Connect, Corp., 1523813 Ontario Limited, Avenue Reconnect, Inc. and Telizon, Inc. (~~collectively~~17 ~~“TelePlus~~CFR ~~Group”) be appointed an interim receiver~~240. ~~Court granted such request and appointed BDO Dunwoody Limited as interim receiver (“Interim Receiver”~~14a-12)~~. A June 24th hearing date was set in this matter.~~

~~The Interim~~¨ ~~Receiver~~Pre-commencement ~~shall~~communications ~~not~~pursuant ~~operate~~to ~~the~~Rule ~~business~~14d-2(b) ofunder the ~~TelePlus~~Exchange ~~Group~~Act or(17 ~~take possession~~CFR ~~of the assets or property of the TelePlus Group pending further order from the court~~240.14d-2(b))

~~The TelePlus~~¨ ~~Group~~Pre-commencement ~~shall~~communications ~~remain~~pursuant ~~in possession and control of its current and future assets, and property. Subject~~ to ~~further~~Rule ~~order~~13e-4(c) ~~from~~under the ~~court,~~Exchange ~~the~~Act ~~TelePlus Group~~(17 ~~shall~~CFR ~~continue to carry on business in a manner consistent with the preservation of its business~~240.13e-4(c))

~~EXHIBITS:~~ITEM 1.01

~~EXHIBIT 17~~Entry ~~COURT~~Into ~~ORDER~~Material Definitive Agreement

~~Signatures~~On June 16, 2009, the Company’s operating subsidiaries’ first secured creditors, Steve Kerekes, Melanie Kerekes, Jim Oattes, Grace Debrandere, Jim Reddon, Monica Reddon, Tom Davis and Jane Davis (“First Creditors”) filed an application for an order pursuant to section 47(1) of the Bankruptcy and Insolvency Act R.S.C. 1985, c. B-3, as amended, with the Ontario Superior Court of Justice in Ontario, Canada demanding that the Company’s Canadian operating subsidiaries which include TelePlus Connect, Corp., 1523813 Ontario Limited, Avenue

~~Pursuant to the requirement~~ On August 13, 2009, Xentenial Holdings Limited, an affiliate of YA Global Investments, L.P. (formally Cornell Capital Partners LP) (collectively “YA”), purchased the ~~Securities Exchange Act~~ position of ~~1934,~~ the ~~registrant has duly caused this report to be signed on~~ ~~its~~First ~~behalf~~Creditors. byAccordingly, YA is now first lien holder of all of the ~~undersigned thereunto duly authorized~~ Company’s assets.

TelePlus World, Corp.
June 19, 2009	/s/	Marius Silvasan
		Marius Silvasan
		Chief Executive Officer
June 19, 2009	/s/	Cris Neely
		Cris Neely
		Chief Financial Officer

On August 21, 2009, after extensive negotiations, the Company, YA and the First Creditors settled the dispute amongst themselves as further detailed in the Settlement Agreement attached hereof as an exhibit. As part of the Settlement Agreement: operational control of the Company’s operating subsidiaries has transitioned to YA and its assignees; all directors of the Company which were also directors of the operating subsidiaries resigned from their role with the operating subsidiaries; each of the Company’s subsidiaries have been directed to pay to YA any funds it would have otherwise paid or owed to the Company; and the Company agreed to voluntarily dismiss the Chapter 11 bankruptcy proceedings. As a result of the Settlement Agreement, the Company will no longer receive any revenues from its subsidiaries which had been the Company’s sole sources of revenue.

~~-2-~~ITEM 1.03

~~EXHIBIT INDEX~~Bankruptcy or Receivership

~~Exhibits~~On toMarch 5, ~~this Form~~2009, the Company filed a voluntary petition for relief under the provisions of Chapter 11 of Title 11 of the United States Code with the United States Bankruptcy Court for the Southern District of Florida in the case captioned In re Teleplus World, Corp., No. 809-K13799-RAM.

Exhibit No.		Description
99.1		Court Order

On August 10, 2009, Company dismissed the Chapter 11 bankruptcy proceedings.

~~Exhibit 99.1~~2

~~COURT ORDER~~Signatures

~~-3-~~Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


	TelePlus World, Corp.


August 24, 2009	By:	/s/ MARIUS SILVASAN
		Marius Silvasan Chief Executive Officer
		Marius Silvasan Chief Executive Officer



August 24, 2009	By:	/s/ CRIS NEELY
		Cris Neely Chief Financial Officer

EXHIBIT INDEX

Exhibits to this Form 8-K

EXHIBITS:


Exhibit No.		Description
99.1		Settlement Agreement
99.2		Escrow Agreement
99.3		Termination of Assurance and Indemnity Agreement
99.4		Form of Release
99.5		Form of Notice to Subsidiary

Filing Compare · Teleplus World, Corp.