/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/061228.mbx T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Thursday, December 28, 2006, Vol. 7, No. 257 Headlines A U S T R I A AUSSEN & INNEN: Creditors' Meeting Slated for January 8 AWO-DENT: Creditors' Meeting Slated for January 18 BACKEREITECHNIK PREGESBAUER: Creditors' Meeting Set for Jan. 10 GOLF & FREIZEIT: Creditors' Meeting Slated for January 9 JUMARIS TRANSPORT: Claims Registration Period Ends January 2 LIMA IMMOBILIEN: Creditors' Meeting Slated for January 10 NIKOTECH LLC: Creditors' Meeting Slated for January 8 REPROGRAFIE ROMANA: Creditors' Meeting Slated for January 10 SCHMIDT LLC: Creditors' Meeting Slated for January 9 TRANS-SPED: Property Manager Declares Insufficient Assets F I N L A N D BENEFON OYJ: Forecasts Higher Net Sales Figure for 2006 BENEFON OYJ: Unveils Financial Calendar for Fiscal Year 2007 METSO OYJ: Stock Option Subscriptions Hike Equity Capital G E R M A N Y ARH AUTOREPARATUR: Claims Registration Ends January 2, 2007 BRASA BRANDSCHADENSANIERUNG: Claims Filing Ends Jan. 4, 2007 DAOUDI HOTELMANAGEMENT: Claims Registration Ends January 2, 2007 EPCOS AG: Earns EUR21.18 Million for Year Ended Sept. 30, 2006 FABRINO OHG: Creditors Must Register Claims by January 5, 2007 GEBRUEDER LANSING: Claims Registration Ends January 3, 2007 HANNEMANN GMBH: Claims Registration Ends January 3, 2007 HIRMER STAHL: Claims Registration Ends January 2, 2007 KNOTH-REPP: Claims Registration Ends January 5, 2007 PP KAMM: Creditors Must Register Claims by January 2, 2007 PROPEX INC: High Leverage Spurs S&P to Affirm B+ Rating REAKON GMBH: Claims Registration Ends January 2, 2007 SCHULDNERIN GA-HAUS: Claims Registration Ends January 3, 2007 G R E E C E OLYMPIC AIRLINES: Wins EUR564-Million Claim vs. Greek Government H U N G A R Y PROPEX INC: High Leverage Spurs S&P to Affirm B+ Rating I T A L Y METSO OYJ: Stock Option Subscription Hikes Equity Capital K A Z A K H S T A N A.R.T. DESIGN: Creditors Must File Claims by Feb. 1, 2007 DORTECHNICA LTD: Proof of Claim Deadline Slated for Feb. 1, 2007 KUAT-ALMAS MUNAI: Creditors' Claims Due Feb. 3, 2007 PKF DAULET & K: Claims Filing Period Ends Feb. 1, 2007 RAS-INVEST LLP: Claims Registration Ends Feb. 3, 2007 REMONTNO MECHANICHESKY: Creditors' Claims Due Feb. 1, 2007 TANJUNCHJIDI LLP: Claims Filing Period Ends Feb. 1, 2007 TUR-SERVICE-2030: Aktube Court Starts Bankruptcy Procedure K Y R G Y Z S T A N CITYHOLDING LLC: Claims Filing Period Ends Feb. 8, 2007 N E T H E R L A N D S EPCOS AG: Earns EUR21.18 Million for Year Ended Sept. 30, 2006 N O R W A Y AKER KVAERNER: Inks Another Deal with Northumbrian Water R U S S I A ALPHA BANK: Inks US$70-Mln Loan Facility for Kreditprombank OJSC BRICKWORKS OJSC: Creditors Must File Claims by February 2, 2007 ENGINEER COMPANY: Creditors Must File Claims by January 2, 2007 KOMSOMOLSKOYE CJSC: Creditors Must File Claims by Feb. 2, 2007 LAZAREVSKIY BREWERY: Creditors Must File Claims by Feb. 2, 2007 LEBYAZHSKIY ELEVATOR: Assets Sale Slated for January 12, 2007 NEVELSKIY OJSC: Creditors Must File Claims by February 2, 2007 NOVOLUALINSKIY PULP-AND-PAPER: Claims Deadline Set Jan. 2, 2007 ORLOV-FURNITURE OJSC: Creditors Must File Claims by Jan. 2, 2007 PALNIKOVSKOYE CJSC: Creditors' Claims Due January 2, 2007 PYATIGORSKOYE GRAIN: Creditors Must File Claims by Jan. 2, 2007 LUKOIL OAO: Inks RUR122.5-Mln Fuel Supply Deal with State SHELKOVSKAYA POULTRY: Court Starts External Management Procedure SLAVYABSKAYA AVIATION: Creditors' Claims Due January 2, 2007 STAVROPOL FARM: Creditors Must File Claims by January 2, 2007 VNESHTORGBANK JSC: Inks US$70-Mln Loan for OJSC Kreditprombank VOROBYEVSKOYE CJSC: Creditors Must File Claims by Jan. 2, 2007 VORONEZH-FISH-COMPLEX: Creditors' Claims Due January 2, 2007 YUKOS OIL: Court Moves Yugansk Unit Hearing to Jan. 25, 2007 YUKOS OIL: Federal Bailiffs Raise Tax Claim to US$15.5 Billion S W I T Z E R L A N D ARMTECH JSC: Aargau Court Closes Bankruptcy Proceedings BUZZI KUNSTSTEIN: Liestal Court Closes Bankruptcy Proceedings FUTTERKORB JSC: Aargau Court Starts Bankruptcy Proceedings HOLWECK JSC: Aargau Court Starts Bankruptcy Proceedings STAR BODENBELAG: Aargau Court Starts Bankruptcy Proceedings STICKEREI WEHRLI: Court Suspends Bankruptcy Proceedings SWISSFLOOR UNTERLAGSBODEN: Court Suspends Bankruptcy Proceedings THOMA PARTNER: Aargau Court Suspends Bankruptcy Proceedings U K R A I N E AGRO LUX: Deadline for Claims Filing Set January 12, 2007 ALPHA BANK: Inks US$70-Mln Loan Facility for Kreditprombank OJSC FRESH WIND: Creditors Must File Claims by January 12, 2007 INTERCONSULT LLC: Creditors Must File Claims by January 12, 2007 INVEST-TRADE LLC: Creditors Must File Claims by Jan. 12, 2007 KATERINOVKA LLC: Creditors Must File Claims by January 12, 2007 KREDITPROMBANK OJSC: Inks US$70-Million Loan Facility UKRSERVICE LLC: Claims Filing Period Ends January 12, 2007 VNESHTORGBANK JSC: Inks US$70-Mln Loan for OJSC Kreditprombank U N I T E D K I N G D O M ABBEY WINDOWS: Claims Filing Period Ends Jan. 31, 2007 AKER KVAERNER: Inks Another Deal with Northumbrian Water BENEFON OYJ: Forecasts Higher Net Sales Figure for 2006 BENEFON OYJ: Unveils Financial Calendar for Fiscal Year 2007 BGM CRYOGENIC: Appoints Administrators from BDO Stoy BIRMINGHAM INTERNATIONAL: Names Gagen Sharma as Administrator CBL LIMITED: Taps Baker Tilly to Administer Assets CCA GROUP: Brings In PwC as Joint Administrators CHEKEMCOLOUR LTD: Appoints Begbies Traynor to Administer Assets CLAIMWOOD LTD: Taps Administrators from Lines Henry COMPUTER NETWORKING: Joint Liquidators Take Over Operations CORBETT PACKAGING: Appoints Administrators from Grant Thornton DARTEX OFFICE: Taps RSM Robson to Administer Assets DURA AUTOMOTIVE: Wants Until January 31 to File Schedules DURA AUTOMOTIVE: Wants to File Lear Settlement Pact Under Seal ENHANCE TECHNOLOGY: Appoints Jonathan Avery Gee as Administrator ENRON EUROPE POWER: Appoints PwC as Liquidators EUROFORCE SERVICES: Brings In Joint Administrators from SFP FARAWAY TRADE: Brings In Kroll as Joint Administrators FORTIDEC FACILITIES: Appoints Administrators from Harrisons HARDLINES LTD: Brings In Hurst Morrison as Administrators HMV GROUP: 2006 Online Sales Up 200% Over Last Year VENSON GROUP: Taps Grant Thornton as Joint Administrators WESTWAY SERVICES: Names David Kirk as Administrator * Upcoming Meetings, Conferences and Seminars ********* ============= A U S T R I A ============= AUSSEN & INNEN: Creditors' Meeting Slated for January 8 ------------------------------------------------------- Creditors owed money by LLC Aussen & Innen - Bau (FN 246145d) are encouraged to attend the creditors' meeting at 10:15 a.m. on Jan. 8, 2007 to consider the adoption of the rule by revision and accountability. The creditors' meeting will be held at: The Trade Court of Vienna Room 1609 16th Floor Vienna, Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Nov. 7 (Bankr. Case No. 38 S 65/06w). Kurt Freyler serves as the court-appointed property manager of the bankrupt estate. Hans Rant represents Dr. Freyler in the bankruptcy proceedings. The property manager and his representative can be reached at: Dr. Kurt Freyler c/o Dr. Hans Rant Seilerstatte 5 1010 Vienna, Austria Tel: 513 31 65 Fax: 512 20 01 E-mail: ra-kanzlei@rant-freyler.at AWO-DENT: Creditors' Meeting Slated for January 18 -------------------------------------------------- Creditors owed money by LLC Awo-Dent & Co (FN 20793d) are encouraged to attend the creditors' meeting at 9:30 a.m. on Jan. 18, 2007, to consider the adoption of the rule by revision and accountability. The creditors' meeting will be held at: The Land Court of Klagenfurt Hall 225 2nd Floor Klagenfurt, Austria Headquartered in Villach, Austria, the Debtor declared bankruptcy on Nov. 7 (Bankr. Case No. 41 S 119/06g). Michael Krautzer serves as the court-appointed property manager of the bankrupt estate. The property manager can be reached at: Dr. Michael Krautzer Hans-Gasser-Place 3 2nd Floor 9500 Villach, Austria Tel: 04242/21223 Fax: 04242/21223-33 E-mail: mitzner.krautzer@utanet.at BACKEREITECHNIK PREGESBAUER: Creditors' Meeting Set for Jan. 10 --------------------------------------------------------------- Creditors owed money by LLC Backereitechnik Pregesbauer (FN 32727d) are encouraged to attend the creditors' meeting at 8:30 a.m. on Jan. 10, 2007, to consider the adoption of the rule by revision and accountability. The creditors' meeting will be held at: The Land Court of Krems an der Donau Hall A 2nd Floor Krems an der Donau, Austria Headquartered in Hadersdorf am Kamp, Austria, the Debtor declared bankruptcy on Nov. 8 (Bankr. Case No. 9 S 58/06m). Alois Autherith serves as the court-appointed property manager of the bankrupt estate. The property manager can be reached at: Dr. Alois Autherith Utzstrasse 13 3500 Krems, Austria Tel: 02732/83485 Fax: 02732/83485-10 E-mail: advoc.autham@netway.at GOLF & FREIZEIT: Creditors' Meeting Slated for January 9 -------------------------------------------------------- Creditors owed money by LLC Golf & Freizeit (FN 87587f) are encouraged to attend the creditors' meeting at 10:00 a.m. on Jan. 9, 2007, to consider the adoption of the rule by revision and accountability. The creditors' meeting will be held at: The Land Court of Linz Hall 522 5th Floor Linz, Austria Headquartered in Linz, Austria, the Debtor declared bankruptcy on Nov. 8 (Bankr. Case No. 38 S 52/06k). Johannes M. Muehllechner serves as the court-appointed property manager of the bankrupt estate. The property manager can be reached at: Mag. Johannes M. Muehllechner Graben 21/3 4020 Linz, Austria Tel: 77 22 00 Fax: 77 22 00 4 E-mail: muehllechner@eurojuris.at JUMARIS TRANSPORT: Claims Registration Period Ends January 2 ------------------------------------------------------------ Creditors owed money by LLC Jumaris Transport Service Transport & Handel (FN 249644z) have until Jan. 2, 2007, to file written proofs of claims to court-appointed property manager Bernhard Schatz at: Dr. Bernhard Schatz Enzersdorfer Str. 4 2340 Moedling, Austria Tel: 02236/865343 Fax: 02236/865343-20 Email: schatz@lexacta.com Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:30 a.m. on Jan. 16, 2007, to consider the adoption of the rule by revision and accountability. The meeting of creditors will be held at: The Land Court of Wiener Neustadt Room 15 Wiener Neustadt, Austria Headquartered in Guntramsdorf, Austria, the Debtor declared bankruptcy on Nov. 8 (Bankr. Case No. 11 S 117/06a). LIMA IMMOBILIEN: Creditors' Meeting Slated for January 10 --------------------------------------------------------- Creditors owed money by LLC Lima Immobilien (FN 253760b) are encouraged to attend the creditors' meeting at 10:00 a.m. on Jan. 10, 2007, to consider the adoption of the rule by revision and accountability. The creditors' meeting will be held at: The Trade Court of Vienna Room 1705 Vienna, Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Nov. 7 (Bankr. Case No. 3 S 147/06x). Eva Riess serves as the court-appointed property manager of the bankrupt estate. Leopold Riess represents Dr. Riess in the bankruptcy proceedings. The property manager and her representative can be reached at: Dr. Eva Riess c/o Dr. Leopold Riess Zeltgasse 3/13 1080 Vienna, Austria Tel: 402 57 01-0 Fax: 402 57 01-21 E-mail: law@riess.co.at NIKOTECH LLC: Creditors' Meeting Slated for January 8 ----------------------------------------------------- Creditors owed money by LLC Nikotech (FN 189273v) are encouraged to attend the creditors' meeting at 9:50 a.m. on Jan. 8, 2007, to consider the adoption of the rule by revision and accountability. The creditors' meeting will be held at: The Trade Court of Vienna Room 1609 Vienna, Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Nov. 7 (Bankr. Case No. 38 S 66/06t). Hans Rant serves as the court-appointed property manager of the bankrupt estate. Kurt Freyler represents Dr. Rant in the bankruptcy proceedings. The property manager and his representative can be reached at: Dr. Hans Rant c/o Dr. Kurt Freyler Seilerstatte 5 1010 Vienna, Austria Tel: 513 31 65 Fax: 512 20 01 E-mail: ra-kanzlei@rant-freyler.at REPROGRAFIE ROMANA: Creditors' Meeting Slated for January 10 ------------------------------------------------------------ Creditors owed money by LLC Reprografie Romana Heyduk (FN 196691b) are encouraged to attend the creditors' meeting at 10:15 a.m. on Jan. 10, 2007, to consider the adoption of the rule by revision and accountability. The creditors' meeting will be held at: The Trade Court of Vienna Room 1606 Vienna, Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Nov. 8 (Bankr. Case No. 4 S 160/06s). Peter Sommerer serves as the court-appointed property manager of the bankrupt estate. The property manager can be reached at: Dr. Peter Sommerer Nottendorfer Gasse 11 1030 Vienna,, Austria Tel: 503 17 90 Fax: 503 17 90 444 E-mail: office@sommerer.co.at SCHMIDT LLC: Creditors' Meeting Slated for January 9 ---------------------------------------------------- Creditors owed money by LLC Schmidt (FN 91368s) are encouraged to attend the creditors' meeting at 9:20 a.m. on Jan. 9, 2007, to consider the adoption of the rule by revision and accountability. The creditors' meeting will be held at: The Land Court of St. Poelten Room 216 2nd Floor Old Building St. Poelten, Austria Headquartered in Murstetten, Austria, the Debtor declared bankruptcy on Nov. 8 (Bankr. Case No. 14 S 183/06m). Hans-Joerg Haftner serves as the court-appointed property manager of the bankrupt estate. The property manager can be reached at: Dr. Hans-Joerg Haftner Wiener Road 12 3100 St. Poelten,, Austria Tel: 02742/35 42 34 Fax: 02742/35 14 48 E-mail: office@plusjus.at TRANS-SPED: Property Manager Declares Insufficient Assets --------------------------------------------------------- Mag. Guenther Eybl, the court-appointed property manager for LLC Trans-Sped Transport (FN 235035s), declared Nov. 8 that the Debtor's property is insufficient to cover creditors' claim. The Land Court of Wels is yet to rule on the property manager's claim. Headquartered in Regau, Austria, the Debtor declared bankruptcy on Nov. 8 (Bankr. Case No. 20 S 129/06f). The property manager can be reached at: Mag. Guenther Eybl Schlagenstrasse 17 4810 Gmunden, Austria Tel: 07612/77011-0 Fax: 07612/77011-77 E-mail: kanzlei-eybl@aon.at ============= F I N L A N D ============= BENEFON OYJ: Forecasts Higher Net Sales Figure for 2006 ------------------------------------------------------- Benefon Oyj updated and replaced its earlier projections released on the Oct. 3, and per the third quarter interim report released Nov. 17, the company expects to take delivery of at minimum 20,000 and at maximum 40,000 handsets by the end of the year. Benefon also updated and replaced its net sales target for the year 2006 released in bulletins of Oct. 3 and Nov. 17 and announced that its net sales for this year should marginally exceed the level of year 2005 net sales. The company has experienced strong demand for the TWIG Discovery model in the U.S. market and expects to make initial shipments into that market prior to yearend as compared to original expectations of shipping during the middle of 2007. The company has also begun commercial shipments of TWIG Discovery into selected European markets. It is anticipated that U.K. operator acceptance will take place in early 2007, which will result in delays to the fulfillment of the UK's 20:20 contract. Network conformance for TWIG Discovery in the U.K. has been delayed due to technical issues that have taken time to resolve. These issues have now been corrected and Benefon is awaiting the results of the re-testing. The Chinese launch of TWIG Discovery is expected to take place in first quarter 2007, a slight delay, due to longer than anticipated Chinese regulatory approval. Chinese shipments will be co branded with China Potevio's Capitel brand. Capitel is a leading handset provider and division of China Potevio, one of the largest state owned telecommunications companies in mainland China. About Benefon Headquartered in Salo, Finland, Benefon Oyj -- http://www.benefon.com/-- provides mobile telematics solutions saving lives, securing assets and improving field management. The company also operates in the Czech Republic, Russia and the U.K. At Dec. 31, 2005, Benefon Oyj's had EUR4.97 million in total assets and EUR7.30 million in total liabilities, resulting in a EUR2.33 million stockholders' deficit. BENEFON OYJ: Unveils Financial Calendar for Fiscal Year 2007 ------------------------------------------------------------ Benefon Oyj will make public the financial statements on fiscal year 2006 and the interim reports of fiscal year 2007 according to schedule: Financial Results for: Release Date: ---------------------- ------------- Full Year 2006 Feb. 28, 2007 First Qtr. 2007 May 22, 2007 Second Qtr. 2007 Aug. 21, 2007 Third Qtr. 2007 Nov. 20, 2007 About Benefon Headquartered in Salo, Finland, Benefon Oyj -- http://www.benefon.com/-- provides mobile telematics solutions saving lives, securing assets and improving field management. The company also operates in the Czech Republic, Russia and the U.K. At Dec. 31, 2005, Benefon Oyj's had EUR4.97 million in total assets and EUR7.30 million in total liabilities, resulting in a EUR2.33 million stockholders' deficit. METSO OYJ: Stock Option Subscriptions Hike Equity Capital --------------------------------------------------------- A total of 65,000 shares in Metso Corporation have been subscribed for with the 2003A stock options during a period of Dec. 7-11. The nominal value of one share is EUR1.70. As a result of share subscriptions, the increase in the share capital, EUR110,500 has been entered into the Trade Register on Dec. 21. After this increase, the company's share capital is EUR240,923,343.80 and the total number of shares is 141,719,614. Out of this total, Metso holds 360,841 shares. Dividend rights of the new shares and other shareholder rights shall commence from the registration date of Dec. 21. The shares have been applied for listing on the Helsinki Stock Exchange together with the old shares as of Dec. 22. For the 2003A stock options the current share subscription price is EUR8.70. About Metso Headquartered in Helsinki, Finland, Metso Corporation -- http://www.metso.com/-- serves customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries. The company's principal production plants are located in Brazil, China, Finland, France, Germany, India, Italy, South Africa, Sweden, the United Kingdom and the United States. * * * As reported in the TCR-Europe on April 11, Standard & Poor's Ratings Services revised its outlook on Finland-based machinery and engineering group Metso Corp. To positive from stable, reflecting improvements in the group's operating performance and capital structure that offer it the potential to return to a low investment-grade rating. The 'BB+' long-term and 'B' short-term corporate credit ratings, as well as the 'BB' senior unsecured debt rating on the group were affirmed. ============= G E R M A N Y ============= ARH AUTOREPARATUR: Claims Registration Ends January 2, 2007 ----------------------------------------------------------- Creditors of ARH Autoreparatur GmbH Halberstadt have until Jan. 2, 2007, to register their claims with court-appointed provisional administrator Cathleen Tetzel. Creditors and other interested parties are encouraged to attend the meeting at 10:30 a.m. on Feb. 7, 2007, at which time the administrator will present her first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Magdeburg Hall E Insolvency Department Liebknechtstrasse 65-91 39110 Magdeburg, Germany The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The District Court of Magdeburg opened bankruptcy proceedings against ARH Autoreparatur GmbH Halberstadt on Nov. 7. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: ARH Autoreparatur GmbH Halberstadt Quedlinburger Str. 98 38820 Halberstadt, Germany Attn: Katja Schlueter, Manager Groeninger Str. 40 38820 Halberstadt, Germany The administrator can be contacted at: Cathleen Tetzel Halberstadter Road 40a 39112 Magdeburg, Germany Tel: 0391/6223886 Fax: 0391/6223887 E-mail: suk-insolvenzkanzlei@t-online.de BRASA BRANDSCHADENSANIERUNG: Claims Filing Ends Jan. 4, 2007 ------------------------------------------------------------ Creditors of brasa Brandschadensanierung GmbH have until Jan. 4, 2007, to register their claims with court-appointed provisional administrator Jens Fahnster. Creditors and other interested parties are encouraged to attend the meeting at 10:45 a.m. on Jan. 18, 2007, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Limburg Room D 221 Walderdorffstrasse 12 65549 Limburg, Germany The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The District Court of Limburg opened bankruptcy proceedings against brasa Brandschadensanierung GmbH on Nov. 10. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: brasa Brandschadensanierung GmbH Flachsau 6 65611 Brechen, Germany The administrator can be contacted at: Jens Fahnster Kolnstr. 135 D-53757 Sankt Augustin-Hangelar, Germany Tel: 02241/9060-0 Fax: 02241/9060-90 E-mail: kanzlei@kalker-fahnster.de DAOUDI HOTELMANAGEMENT: Claims Registration Ends January 2, 2007 ---------------------------------------------------------------- Creditors of Daoudi Hotelmanagement GmbH have until Jan. 2, 2007, to register their claims with court-appointed provisional administrator Jana Dettmer. Creditors and other interested parties are encouraged to attend the meeting at 10:35 a.m. on Jan. 23, 2007, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Cologne Meeting Room 14 Ground Floor Luxemburger Road 101 50939 Cologne, Germany The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The District Court of Cologne opened bankruptcy proceedings against Daoudi Hotelmanagement GmbH on Nov. 2. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Daoudi Hotelmanagement GmbH Toyotaallee 40 - 42 50858 Cologne, Germany The administrator can be contacted at: Jana Dettmer Weyerstrasse 54 50676 Cologne, Germany EPCOS AG: Earns EUR21.18 Million for Year Ended Sept. 30, 2006 -------------------------------------------------------------- Epcos AG released it audited consolidate financial results for the year ended Sept. 30, 2006. Epcos posted EUR21.18 million in profit against EUR1.41 billion in revenues for the year ended Sept. 30, 2006, compared with EUR119.26 million in losses against EUR1.15 billion in revenues for the previous fiscal year. As of Sept. 30, 2006, Epcos AG had EUR1.42 billion in net assets, EUR838.85 million in net liabilities and EUR575.7 million in shareholders' equity. "We came considerably closer to our overriding goal of achieving sustainable profitability and increasing the value of Epcos," Gerhard Pegam, Chief Executive Officer, said. "We benefited from a favorable economic climate. At the same time, restructuring activities were a defining aspect of fiscal 2006. We succeeded in improving our company's focus on greater innovation, growth and quality. In doing so, we laid a firm foundation on which to sustainably improve our profitability." About Epcos Headquartered in Munich, Germany, Epcos AG -- http://www.epcos.de/-- produces and supplies electronic components and modules. Its product portfolio includes multilayer ceramic components, capacitors, piezo actuators, thermistors, varistors, sensors and sensor systems, surge arresters, switching spark gaps, inductors, chokes and transformers. The company also operates in * * * Epcos AG carries BB+ short- and long-term corporate credit rating on from Standard & Poors. Epcos Finance B.V.'s convertible senior unsecured debt also carries BB+ rating from S&P. S&P said the outlooks are stable. FABRINO OHG: Creditors Must Register Claims by January 5, 2007 -------------------------------------------------------------- Creditors of Fabrino OHG i.L. have until Jan. 5, 2007, to register their claims with court-appointed provisional administrator Ulf D. Gaubatz. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on Feb. 6, 2007, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Tuebingen Hall 208 2nd Floor Branch Office Schulberg 14 72074 Tuebingen, Germany The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The District Court of Tuebingen opened bankruptcy proceedings against Fabrino OHG i.L. on Nov. 7. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Fabrino OHG i.L. Hauffstr. 9 75385 Bad Teinach-Zavelstein, Germany The administrator can be contacted at: Ulf D. Gaubatz R�ppurrer Road 4 76137 Karlsruhe, Germany GEBRUEDER LANSING: Claims Registration Ends January 3, 2007 ----------------------------------------------------------- Creditors of Gebrueder Lansing GmbH & Co KG have until Jan. 3, 2007, to register their claims with court-appointed provisional administrator Ulrich Zerrath. Creditors and other interested parties are encouraged to attend the meeting at 8:45 a.m. on Jan. 24, 2007, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court Muenster Meeting Room 106 C Gerichtsstr. 2-6 48149 Muenster, Germany The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The District Court of Muenster opened bankruptcy proceedings against Gebrueder Lansing GmbH & Co KG on Oct. 24. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Gebrueder Lansing GmbH & Co KG Lise-Meitner-Road 18 48691 Vreden, Germany Attn: Heinrich Lansing, Manager Degeners Puett 7 48691 Vreden, Germany The administrator can be contacted at: Ulrich Zerrath Lange Wanne 57 45665 Recklinghausen, Germany HANNEMANN GMBH: Claims Registration Ends January 3, 2007 -------------------------------------------------------- Creditors of Hannemann GmbH have until Jan. 3, 2007, to register their claims with court-appointed provisional administrator Friedrich Irschlinger. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Jan. 24, 2007, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Karlsruhe Hall IV 1st Floor Schlossplatz 23 76131 Karlsruhe, Germany The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The District Court of Karlsruhe opened bankruptcy proceedings against Hannemann GmbH on Oct. 30. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Hannemann GmbH Attn: Richard Hannemann, Manager Hauptstr. 4 75056 Sulzfeld, Germany The administrator can be contacted at: Friedrich Irschlinger L 9 - 11 68161 Mannheim, Germany Tel: (0621) 127960 HIRMER STAHL: Claims Registration Ends January 2, 2007 ------------------------------------------------------ Creditors of Hirmer Stahl- und Metallbau GmbH have until Jan. 2, 2007, to register their claims with court-appointed provisional administrator Juergen Wittmann. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on Jan. 22, 2007, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Coburg Meeting Room K I. Stick Auxiliary Building Coburg, Germany The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The District Court of Coburg opened bankruptcy proceedings against Hirmer Stahl- und Metallbau GmbH on Oct. 31. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Hirmer Stahl- und Metallbau GmbH Attn: Franz Hirmer, Manager Postweg 2a 96450 Coburg, Germany Joachim Steiner, Manager Stetsambach 2 96486 Lautertal, Germany The administrator can be contacted at: Juergen Wittmann Adolf-Kolping-Road 1 96317 Kronach, Germany Tel: 09261/62200 Fax: 09261/622020 KNOTH-REPP: Claims Registration Ends January 5, 2007 ---------------------------------------------------- Creditors of Knoth-Repp GmbH have until Jan. 5, 2007, to register their claims with court-appointed provisional administrator Frank Bayer. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Jan. 30, 2007, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Hanau Area E03 Branch Office Insolvency Court Engelhardstrasse 21 63450 Hanau, Germany The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The District Court of Hanau opened bankruptcy proceedings against Knoth-Repp GmbH on Nov. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Knoth-Repp GmbH Attn: Armin Repp and Petra Knoth-Repp, Managers Sophie-Knoth-Str. 33-37 63606 Wachtersbach, Germany The administrator can be contacted at: Frank Bayer Kuhgasse 3 63571 Gelnhausen, Germany Tel: 06051/92020 Fax: 06051/920220 PP KAMM: Creditors Must Register Claims by January 2, 2007 ---------------------------------------------------------- Creditors of PP Kamm & Schere GmbH have until Jan. 2, 2007, to register their claims with court-appointed provisional administrator Stefan Meyer. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on Jan. 23, 2007, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Bielefeld Hall 4065 4 Floor Court Route 6 33602 Bielefeld, Germany The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The District Court of Bielefeld opened bankruptcy proceedings against PP Kamm & Schere GmbH on Oct. 23. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: PP Kamm & Schere GmbH Attn: Dominico Posa, Manager Ort 10 32609 Huellhorst, Germany The administrator can be contacted at: Stefan Meyer Ostertorstr. 7 32312 Luebbecke, Germany PROPEX INC: High Leverage Spurs S&P to Affirm B+ Rating ------------------------------------------------------- Standard & Poor's Ratings Services revised its outlook on Propex Inc. to negative from stable. At the same time, Standard & Poor's affirmed all ratings on the company, including the 'B+' corporate credit rating. "The outlook revision reflects our expectation that difficult operating conditions, including lower residential construction activity, could reduce demand for Propex's products and hinder its efforts to improve the financial profile to a level consistent with the current ratings," said Standard & Poor's credit analyst David Bird. The ratings on Propex Inc. reflect the company's vulnerable business position as a niche producer of primary and secondary carpet backing and geosynthetic and industrial fibers for mature and competitive end markets, and a highly leveraged financial profile. Austell, Ga.-based Propex is a leading producer of polypropylene fabrics and fibers used in primary and secondary carpet backing, geosynthetic and industrial applications, and concrete fiber reinforcement, with about US$800 million in annual sales and US$468 million of total debt outstanding (adjusted for approximately US$5 million of capitalized operating leases, US$36 million of unfunded postretirement obligations, after tax, and US$28 million of 10% payment in kind [PIK] preferred stock due in 2013). Sufficient liquidity, relatively low capital requirements, and a manageable maturity profile during the next several years add some support to credit quality, particularly if business conditions begin to stabilize. However, the ratings could be lowered during the next year if profitability and cash flow deteriorate because of demand weakness caused by declining construction activity, an acceleration of the decline in carpet market share as a percentage of overall floor covering sales, or further increases in competition from foreign imports. REAKON GMBH: Claims Registration Ends January 2, 2007 ----------------------------------------------------- Creditors of Reakon GmbH + Co. Bauprojekt Eintrachtstrasse KG have until Jan. 2, 2007, to register their claims with court- appointed provisional administrator Holger Rhode. Creditors and other interested parties are encouraged to attend the meeting at 9:25 a.m. on Jan. 18, 2007, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Wuppertal Meeting Room A234 2nd Floor Isle 2 42103 Wuppertal, Germany The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The District Court of Wuppertal opened bankruptcy proceedings against Reakon GmbH + Co. Bauprojekt Eintrachtstrasse KG on Nov. 8. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Reakon GmbH + Co. Bauprojekt Eintrachtstrasse KG Attn: Margarete Josten, Manager Langenhaus 31 42369 Wuppertal, Germany The administrator can be contacted at: Holger Rhode Friedrich-Ebert-Road 17 42103 Wuppertal, Germany SCHULDNERIN GA-HAUS: Claims Registration Ends January 3, 2007 ------------------------------------------------------------- Creditors of Schuldnerin GA-Haus GmbH have until Jan. 3, 2007, to register their claims with court-appointed provisional administrator Rolf Rattunde. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Feb. 14, 2007, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Potsdam Hall 301 3rd Floor Branch Linden Road 6 14467 Potsdam, Germany The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The District Court of Potsdam opened bankruptcy proceedings against Schuldnerin GA-Haus GmbH on Nov. 20. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Schuldnerin GA-Haus GmbH Dennis-Gabor-Road 2 14469 Potsdam, Germany The administrator can be contacted at: Rolf Rattunde Kurfuerstendamm 212 10719 Berlin, Germany =========== G R E E C E =========== OLYMPIC AIRLINES: Wins EUR564-Million Claim vs. Greek Government ---------------------------------------------------------------- A local court ordered the Greek government to pay debt-laden national carrier Olympic Airlines S.A. around EUR563.9 million for unpaid services, The Associated Press reports. The company had been seeking compensation from the state on: -- legally subsidized routes to remote Greek islands; -- travel for senior government officials and conscripts; and -- relocation to a new airport outside Athens in 2001. Both the carrier and the government welcomed the court's ruling, saying it would bolster their case at the European Court. "The decision of the arbitration court vindicates the position of [the company]," Olympic Airways Services S.A., the company's airline unit, said in a statement. "This gives us a strong legal argument in the European Court ahead of our case," Michalis Liapis, Greece's Transport Minister, said, adding that he already informed Prime Minister Costas Karamanlis of the ruling. As reported in the TCR-Europe on Oct. 24, the Greek government may face a EUR10,000-a-day penalty for failing to recover EUR161 million in illegal aid allotted to Olympic Airlines. The European Commission warned the Greek government of a possible legal action if the state remains adamant in recovering the amount from Olympic Airlines. The Greek government, however, still refused to reclaim the state aid, saying it would assess the ruling before responding. BBC says Greece's position apparently caused the regulator to lose its patience and requested the European Union Court of Justice to impose the daily fine. The daily penalty would continue until Greece recovers all the money from Olympic Airlines. Inaction on the part of the Greek government may push the Commission to raise the fine to EUR53,000 daily. About Olympic Airlines Headquartered in Athens, Greece, Olympic Airlines S.A. -- http://www.olympicairlines.com/-- the holding company of the Olympic Airways group of companies, flies passengers and cargo to five continents, while offering ground handling, technical maintenance and information technology services to third parties. The national carrier posted EUR123.7 million in net loss against EUR715.2 million in revenues for financial year 2005, compared with EUR87 million in net losses against EUR642.8 million in revenues for financial year 2004. ============= H U N G A R Y ============= PROPEX INC: High Leverage Spurs S&P to Affirm B+ Rating ------------------------------------------------------- Standard & Poor's Ratings Services revised its outlook on Propex Inc. to negative from stable. At the same time, Standard & Poor's affirmed all ratings on the company, including the 'B+' corporate credit rating. "The outlook revision reflects our expectation that difficult operating conditions, including lower residential construction activity, could reduce demand for Propex's products and hinder its efforts to improve the financial profile to a level consistent with the current ratings," said Standard & Poor's credit analyst David Bird. The ratings on Propex Inc. reflect the company's vulnerable business position as a niche producer of primary and secondary carpet backing and geosynthetic and industrial fibers for mature and competitive end markets, and a highly leveraged financial profile. Austell, Ga.-based Propex is a leading producer of polypropylene fabrics and fibers used in primary and secondary carpet backing, geosynthetic and industrial applications, and concrete fiber reinforcement, with about US$800 million in annual sales and US$468 million of total debt outstanding (adjusted for approximately US$5 million of capitalized operating leases, US$36 million of unfunded postretirement obligations, after tax, and US$28 million of 10% payment in kind [PIK] preferred stock due in 2013). Sufficient liquidity, relatively low capital requirements, and a manageable maturity profile during the next several years add some support to credit quality, particularly if business conditions begin to stabilize. However, the ratings could be lowered during the next year if profitability and cash flow deteriorate because of demand weakness caused by declining construction activity, an acceleration of the decline in carpet market share as a percentage of overall floor covering sales, or further increases in competition from foreign imports. ========= I T A L Y ========= METSO OYJ: Stock Option Subscription Hikes Equity Capital --------------------------------------------------------- A total of 65,000 shares in Metso Corporation have been subscribed for with the 2003A stock options during a period of Dec. 7-11. The nominal value of one share is EUR1.70. As a result of share subscriptions, the increase in the share capital, EUR110,500 has been entered into the Trade Register on Dec. 21. After this increase, the company's share capital is EUR240,923,343.80 and the total number of shares is 141,719,614. Out of this total, Metso holds 360,841 shares. Dividend rights of the new shares and other shareholder rights shall commence from the registration date of Dec. 21. The shares have been applied for listing on the Helsinki Stock Exchange together with the old shares as of Dec. 22. For the 2003A stock options the current share subscription price is EUR8.70. About Metso Headquartered in Helsinki, Finland, Metso Corporation -- http://www.metso.com/-- serves customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries. The company's principal production plants are located in Brazil, China, Finland, France, Germany, India, Italy, South Africa, Sweden, the United Kingdom and the United States. * * * As reported in the TCR-Europe on April 11, Standard & Poor's Ratings Services revised its outlook on Finland-based machinery and engineering group Metso Corp. To positive from stable, reflecting improvements in the group's operating performance and capital structure that offer it the potential to return to a low investment-grade rating. The 'BB+' long-term and 'B' short-term corporate credit ratings, as well as the 'BB' senior unsecured debt rating on the group were affirmed. =================== K A Z A K H S T A N =================== A.R.T. DESIGN: Creditors Must File Claims by Feb. 1, 2007 --------------------------------------------------------- LLP A.R.T. Design Company has declared insolvency. Creditors have until Feb. 1, 2007, to submit written proofs of claim to: LLP A.R.T. Design Company Vodnaya Str. 36a Almaty, Kazakhstan DORTECHNICA LTD: Proof of Claim Deadline Slated for Feb. 1, 2007 ---------------------------------------------------------------- The Specialized Inter-Regional Economic Court of Kostanai Region declared LLP Dortechnica Ltd. insolvent. Creditors have until Feb. 1, 2007, to submit written proofs of claim to: LLP Dortechnica Ltd. Maulenov Str. 21 Kostanai Kostanai Region Kazakhstan KUAT-ALMAS MUNAI: Creditors' Claims Due Feb. 3, 2007 ---------------------------------------------------- The Specialized Inter-Regional Economic Court of South Kazakhstan Region declared JSC Kuat-Almas Munai insolvent. Creditors have until Feb. 3, 2007, to submit written proofs of claim to: JSC Kuat-Almas Munai Vostochnaya Str. 1 Maktaaralsky District South Kazakhstan Region Kazakhstan Tel: 8 701 729 33-34 PKF DAULET & K: Claims Filing Period Ends Feb. 1, 2007 ------------------------------------------------------ The Specialized Inter-Regional Economic Court of Kostanai Region declared LLP PKF Daulet & K insolvent. Creditors have until Feb. 1, 2007, to submit written proofs of claim to: LLP PKF Daulet & K Maulenov Str. 21 Kostanai Kostanai Region Kazakhstan RAS-INVEST LLP: Claims Registration Ends Feb. 3, 2007 ----------------------------------------------------- LLP Ras-Invest has declared insolvency. Creditors have until Feb. 3, 2007, to submit written proofs of claim to: LLP Ras-Invest Novaya Str. 27a Koktal Astana, Kazakhstan REMONTNO MECHANICHESKY: Creditors' Claims Due Feb. 1, 2007 ---------------------------------------------------------- LLP Sairamsky Repair and Engineering Works Remontno Mechanichesky Zavod (RNN 581100029609) has declared insolvency. Creditors have until Feb. 1, 2007, to submit written proofs of claim to: LLP Remontno Mechanichesky Zavod Jamalov Street Sairam Sairamsky District South Kazakhstan Region Kazakhstan TANJUNCHJIDI LLP: Claims Filing Period Ends Feb. 1, 2007 -------------------------------------------------------- LLP Company Tanjunchjidi has declared insolvency. Creditors have until Feb. 1, 2007, to submit written proofs of claim. Inquiries can be addressed to 8 (3272) 24-30-74. TUR-SERVICE-2030: Aktube Court Starts Bankruptcy Procedure ---------------------------------------------------------- The Specialized Inter-Regional Economic Court of Aktube Region commenced bankruptcy proceedings against LLP Tur-Service-2030 on Nov. 27. =================== K Y R G Y Z S T A N =================== CITYHOLDING LLC: Claims Filing Period Ends Feb. 8, 2007 ------------------------------------------------------- LLC Cityholding has declared insolvency. Creditors have until Feb. 8, 2007, to submit written proofs of claim to: LLC Cityholding Orozbekov Str. 110a Bishkek, Kyrgyzstan ===================== N E T H E R L A N D S ===================== EPCOS AG: Earns EUR21.18 Million for Year Ended Sept. 30, 2006 -------------------------------------------------------------- Epcos AG released it audited consolidate financial results for the year ended Sept. 30, 2006. Epcos posted EUR21.18 million in profit against EUR1.41 billion in revenues for the year ended Sept. 30, 2006, compared with EUR119.26 million in losses against EUR1.15 billion in revenues for the previous fiscal year. As of Sept. 30, 2006, Epcos AG had EUR1.42 billion in net assets, EUR838.85 million in net liabilities and EUR575.7 million in shareholders' equity. "We came considerably closer to our overriding goal of achieving sustainable profitability and increasing the value of Epcos," Gerhard Pegam, Chief Executive Officer, said. "We benefited from a favorable economic climate. At the same time, restructuring activities were a defining aspect of fiscal 2006. We succeeded in improving our company's focus on greater innovation, growth and quality. In doing so, we laid a firm foundation on which to sustainably improve our profitability." About Epcos Headquartered in Munich, Germany, Epcos AG -- http://www.epcos.de/-- produces and supplies electronic components and modules. Its product portfolio includes multilayer ceramic components, capacitors, piezo actuators, thermistors, varistors, sensors and sensor systems, surge arresters, switching spark gaps, inductors, chokes and transformers. The company also operates in * * * Epcos AG carries BB+ short- and long-term corporate credit rating on from Standard & Poors. Epcos Finance B.V.'s convertible senior unsecured debt also carries BB+ rating from S&P. S&P said the outlooks are stable. =========== N O R W A Y =========== AKER KVAERNER: Inks Another Deal with Northumbrian Water -------------------------------------------------------- Northumbrian Water has awarded Aker Kvaerner ASA a major contract to provide the process requirements for the latest improvement scheme at the Bran Sands Effluent Treatment Center. The award-winning Center, at Teesport, treats domestic sewage together with the waste from several industrial processes from the surrounding area. The improvement scheme will partition part of the process to provide bespoke treatment solutions for two industrial waste streams. Aker Kvaerner will provide the procurement, construction, functional commissioning, testing and training needs for the scheme. The contract has commenced, with a seven-month construction period. This latest contract is in addition to the five-year capital maintenance works that Aker Kvaerner has been carrying out since July 2005. As part of Northumbrian Water's current asset management program at Bran Sands, the work focuses on the continued smooth operation and productivity of the facilities. Aker Kvaerner also provides engineering expertise for all mechanical, electrical, process, control, instrumentation and telemetry requirements, and all civil engineering works. Northumbrian Water also recently awarded Aker Kvaerner its "Contractor Health and Safety Award" for 2006. Some 14 other contractors entered this award category and the achievement recognizes Aker Kvaerner's significant contribution to the promotion of health and safety in the business. About Aker Kvaerner Headquartered in Lysaker, Norway, Aker Kvaerner ASA -- http://www.akerkvaerner.com/-- through its subsidiaries and affiliates, provides engineering and construction services, technology products and integrated solutions. The company has operations in Brazil, Chile, China, India, Indonesia, Japan, Singapore, South Korea, Thailand and Malaysia. The Aker Kvaerner group is organized into two principal business streams, namely Oil & Gas and E&C, each consisting of a number of separate legal entities. * * * Moody's Investors Service, in April 2006, upgraded the of Aker Kvaerner Oil & Gas Group and Aker Kvaerner AS, primarily to reflect the sustainable strong recovery in profitability and cash flow generation of the ring-fenced oil and gas group over the past two years, coupled with the clear reduction in senior debt, repaid from internally generated funds. Ratings affected: Aker Kvaerner Oil & Gas Group AS -- Corporate family rating: upgraded to Ba1 from Ba3 Aker Kvaerner AS -- Rating of the second priority lien notes due 2011: upgraded to Ba1 from Ba3. Moody's said the outlook on all ratings is stable. =========== R U S S I A =========== ALPHA BANK: Inks US$70-Mln Loan Facility for Kreditprombank OJSC ---------------------------------------------------------------- Vneshtorgbank JSC, Alpha Bank, Fortis Bank S.A./N.V. and WestLB AG, London Branch, as Mandated Lead Arrangers, and a consortium of lenders have signed into a US$70-million Syndicated term loan facility for OJSC Kreditprombank. Due to a significant oversubscription, the loan was increased from the initial amount of US$30 million. The loan bears a margin of 2.35% p.a. and has maturity of 364 days with an extension option for further 364 days. These banks have joined the Facility: -- Arrangers: -- VTB Europe Plc, and -- HSBC Bank Plc -- Co-Arrangers -- Anglo-Romanian Bank Limited, and -- GarantiBank International N.V. -- Lead Managers -- Bank of India, -- Banque BIA, -- International Moscow Bank, -- Finansbank (Holland) N.V., and -- Hypo Alpe Adria Bank. About Kreditprombank Headquartered in Kiev, Ukraine, OJSC Kreditprombank -- http://www.kreditprombank.com/eng/-- provides financial services to corporate clients from more than 5000 organizations including core-forming enterprises of energy economy, military sector, chemical industry, metal manufacture, pharmaceutical, food and light industries, telecommunications and trade and service enterprises. The bank supports intensively small and medium-sized business granting finance on favorable terms under MSP-2 credit line of the European Bank for Reconstruction and Development for small and medium enterprises. About Alfa Bank Headquartered in Moscow, Russia, Alfa Bank -- http://www.alfabank.com/-- provides services in every key sector of the financial service industry, including corporate banking, retail banking, investment banking, trade finance, insurance and asset management. Alfa Bank's branch network has grown to 121, including subsidiary banks in Russia, Ukraine, Kazakhstan and the Netherlands. In 2005 total assets of the Alfa Bank and its subsidiaries grew to US$9.8 billion, total equity increased to US$855.8 million, loan portfolio net of provisions increased to US$5.7 billion. The net profit for a year 2005 was US$180.6 million. * * * As reported in the TCR-Europe on Dec 26, Standard & Poor's Ratings Services raised its long-term counterparty credit rating on Alfa-Bank to BB from BB-. The short-term rating on the bank was affirmed at B. The outlook is stable. At the same time, the Russian national scale rating was raised to ruAA from ruAA-. As reported in the TCR-Europe on Oct. 6, Fitch Ratings assigned Alfa MTN Issuance Limited's US$400 million 7.875% notes issue due October 2009 a Long-term BB- rating. The proceeds from the issue will be on-lent to Alfa Bank, rated Issuer Default BB- /Outlook Stable, Short-term B, Support 4, Individual C/D, and National Long-term A+/Outlook Stable. As reported in the TCR-Europe on July 17, Moody's Investors Service upgraded Alfa Bank's Financial Strength Rating to D from D- and changed its outlook to stable from positive. At the same time, the bank's Ba2 long-term foreign currency deposit and senior unsecured debt ratings have been affirmed with their corresponding outlooks changed to stable. The bank's Not-Prime short-term foreign currency deposit and debt ratings and their outlook remain unchanged. BRICKWORKS OJSC: Creditors Must File Claims by February 2, 2007 --------------------------------------------------------------- Creditors of OJSC Brickworks have until Feb. 2, 2007, to submit written proofs of claim to: A. Dolzhenko, Insolvency Manager Moskovskaya Str. 68. 344007 Rostov-na-Donu Russia The Arbitration Court of Rostov Region commenced bankruptcy proceedings against the company after finding it insolvent. The case was docketed under Case No. A53-12846/2006-S2-8. The Court will hear the case at 2:30 p.m. on May 17, 2007. The Arbitration Court of Rostov Region is located at: Stanislavskogo Str. 8a 344008 Rostov-na-Donu Russia The Debtor can be reached at: OJSC Brickworks Yakutskiy Per. 2A Shakhty 346513 Rostov Region Russia ENGINEER COMPANY: Creditors Must File Claims by January 2, 2007 --------------------------------------------------------------- Creditors of LLC Engineer Company (TIN 0276039291) have until Jan. 2, 2007, to submit written proofs of claim to: R. Farvazov, Temporary Insolvency Manager Post User Box 16 Ufa 450007 Bashkortostan Republic Russia The Arbitration Court of Bashkortostan Republic commenced bankruptcy supervision procedure on the company. The case is docketed under Case No. A07-54524/05-G-ADM. The Arbitration Court of Bashkortostan Republic is located at: Oktyabrskoy Revolyutsii Str. 63a Ufa Bashkortostan Republic Russia The Debtor can be reached at: LLC Engineer Company Bulvar Molodyezhi Str. 10 Ufa Bashkortostan Republic Russia KOMSOMOLSKOYE CJSC: Creditors Must File Claims by Feb. 2, 2007 -------------------------------------------------------------- Creditors of CJSC Komsomolskoye have until Feb. 2, 2007, to submit written proofs of claim to: S. Kononov, Insolvency Manager Lermontovskaya Str. 83 344010 Rostov-na-Donu Russia The Arbitration Court of Rostov Region commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A53-9009/06-S2-8. The Arbitration Court of Rostov Region is located at: Stanislavskogo Str. 8a 344008 Rostov-na-Donu Russia The Debtor can be reached at: CJSC Komsomolskoye Komsomolskiy Morozovskiy Region Rostov Region Russia LAZAREVSKIY BREWERY: Creditors Must File Claims by Feb. 2, 2007 --------------------------------------------------------------- Creditors of LLC Lazarevskiy Brewery (TIN 2318027784) have until Feb. 2, 2007, to submit written proofs of claim to: P. Bashmakov, Insolvency Manager Post User Box 251 400005 Volgograd Region Russia The Arbitration Court of Krasnodar Region commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A-32-22134/2006-38/1862-B. The Arbitration Court of Krasnodar Region is located at: Krasnaya Str. 6 Krasnodar Region Russia The Debtor can be reached at: LLC Lazarevskiy Brewery Lvovskaya Str. 88 Sochi Krasnodar Region Russia LEBYAZHSKIY ELEVATOR: Assets Sale Slated for January 12, 2007 ------------------------------------------------------------- A. Lutoshkin, Insolvency Manager and Bidding Organizer for OJSC Lebyazhskiy Elevator, will auction the company's property to the public at 1:00 p.m. on Jan. 12, 2007, at: Sovetskaya Str. 63 Lebyazhye 613500 Kirov Region Russia Interested parties must submit their bids by Dec. 29, to: A. Lutoshkin Sovetskaya Str. 63 Lebyazhye 613500 Kirov Region Russia To participate, bidders must deposit an amount equivalent to 10% of the starting price to: OJSC Lebyazhskiy Elevator Settlement Account 40502810827150100012 Kirovskoye OSB 8612 Correspondent Account 3010181050000000609 BIK 043304609 The Debtor can be reached at: OJSC Lebyazhskiy Elevator Sovetskaya Str. 63 Lebyazhye 613500 Kirov Region Russia NEVELSKIY OJSC: Creditors Must File Claims by February 2, 2007 -------------------------------------------------------------- Creditors of OJSC City Diary Nevelskiy have until Feb. 2, 2007, to submit written proofs of claim to: S. Oganezova, Insolvency Manager Post User Box 48 693007 Yuzhno-Sakhalinsk Russia The Arbitration Court of Sakhalin Region commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A59-4693/06-S4. The Debtor can be reached at: OJSC City Diary Nevelskiy Nevelskiy Sakhalin Region Russia NOVOLUALINSKIY PULP-AND-PAPER: Claims Deadline Set Jan. 2, 2007 --------------------------------------------------------------- Creditors of OJSC Novolualinskiy Pulp-and-Paper Mill (TIN 6647001267) have until Jan. 2, 2007, to submit written proofs of claim to: A. Zamaraev, Temporary Insolvency Manager Zoologicheskaya Str. 9 620149 Ekaterinburg Region Russia The Arbitration Court of Sverdlovsk Region commenced bankruptcy supervision procedure on the company. The case is docketed under Case No. A60-31933/06-S11. The Arbitration Court of Sverdlovsk Region is located at: Lenina Pr. 34 620151 Ekaterinburg Region Russia The Debtor can be reached at: OJSC Novolualinskiy Pulp-and-Paper Mill Lenina Str. 2. Novaya Lyalya 624400 Sverdlovsk Region Russia ORLOV-FURNITURE OJSC: Creditors Must File Claims by Jan. 2, 2007 ---------------------------------------------------------------- Creditors of OJSC Orlov-Furniture have until Jan. 2, 2007, to submit written proofs of claim to: L. Shikhov, Temporary Insolvency Manager Grina Quay 3 610004 Kirov Region Russia The Arbitration Court of Kirov Region commenced bankruptcy supervision procedure on the company. The case is docketed under Case No. A28-580/06-318/3. The Court will hear the case at 10:00 a.m. on March 29, 2007. The Arbitration Court of Kirov Region is located at: K-Libknekhta Str. 102 610017 Kirov Region Russia The Debtor can be reached at: OJSC Orlov-Furniture Gorkogo Str. 27 Orlov Kirov Region Russia PALNIKOVSKOYE CJSC: Creditors' Claims Due January 2, 2007 --------------------------------------------------------- Creditors of CJSC Palnikovskoye have until Jan. 2, 2007, to submit written proofs of claim to: A. Farrakhov, Temporary Insolvency Manager Post User Box 1184 Izhevsk 426072 Udmurtiya Republic Russia The Arbitration Court of Udmurtiya Republic commenced bankruptcy supervision procedure on CJSC Palnikovskoye after finding it insolvent. The case is docketed under Case No. A71-001898/ 2006 G15. The Arbitration Court of Udmurtiya Republic is located at: Lomonosova Str. 5 Izhevsk 426004 Udmurtiya Republic Russia The Debtor can be reached at: CJSC Palnikovskoye Palniki Zavyalovskiy Region Udmurtiya Republic Russia PYATIGORSKOYE GRAIN: Creditors Must File Claims by Jan. 2, 2007 --------------------------------------------------------------- Creditors of OJSC Pyatigorskoye Grain Receiving Enterprise have until Jan. 2, 2007, to submit written proofs of claim to: G. Pushkarnyj, Insolvency Manager Betankura Str. 3 Nizhniy Novgorod Region Russia The Arbitration Court of Stavropol Region commenced bankruptcy proceedings against the company after finding it insolvent. The case was docketed under Case No. A63-180/04-S5. The Arbitration Court of Stavropol Region is located at: Mira Str. 4586 Stavropol Region Russia The Debtor can be reached at: OJSC Pyatigorskoye Grain Receiving Enterprise Kislovogskoye Shosse, 5. Pytigorsk Stavropol Region Russia LUKOIL OAO: Inks RUR122.5-Mln Fuel Supply Deal with State --------------------------------------------------------- OAO Lukoil has won the motor fuel supply tender for the Federal State Unitary Enterprise "State Transport Company Russia" of the Administrative Department under the President of the Russian Federation. The contract amount is RUR122.5 million. During the first half of 2007, Lukoil will supply over 4 million liters of different motor gasoline grades, about 400,000 liters of diesel fuel and 150,000 liters of vessel fuel to the FSUE as small-size deliveries. In addition to that, over 2 million liters of gasoline and diesel fuel are to be marketed for the needs of the FSUE vehicles in Moscow and Moscow Region by means of electronic fuel cards and tickets through LUKOIL gas station network. "We have succeeded in concluding this exclusive contract not only due to the fact that we managed to offer the most favorable pricing conditions, but also because the Company produces Euro-3 motor gasoline and Euro-4 diesel fuel that come in full compliance with the international requirements, both technically and environmentally," said Vagit Alekperov, President of OAO Lukoil. About Lukoil Headquartered in Moscow, Russia, OAO Lukoil (LSE: LKOD; MICEX, RTS: LKOH) -- http://www.Lukoil.com/-- explores and produces oil & gas, petroleum products and petrochemicals, and markets the outputs. Most of the Company's exploration and production activity is located in Russia, and its main resource base is in Western Siberia. * * * As reported in the TCR-Europe on July 12, Standard & Poor's Ratings Services raised its long-term corporate credit rating on Lukoil OAO to 'BB+' from 'BB'. S&P said the outlook is positive. SHELKOVSKAYA POULTRY: Court Starts External Management Procedure ---------------------------------------------------------------- The Arbitration Court of Moscow Region has commenced external management bankruptcy procedure on CJSC Shelkovskaya Poultry Farm. The case is docketed under Case No. A41-K2-14720/05. The External Insolvency Manager is: A. Popov Gilyarovskogo Str. 31 107996 Moscow Russia The Arbitration Court of Moscow is located at: Novaya Basmannaya Str. 10 Moscow Region Russia The Debtor can be reached at: CJSC Shelkovskaya Poultry Farm Oseevo Shelkovskiy Region 141150 Moscow Region Russia SLAVYABSKAYA AVIATION: Creditors' Claims Due January 2, 2007 ------------------------------------------------------------ Creditors of LLC Slavyabskaya Aviation have until Jan. 2, 2007, to submit written proofs of claim to: M. Makhnev, Insolvency Manager Nakhichevanskiy Per. 64 344010 Rostov-na-Donu Russia The Arbitration Court of Krasnodar Region commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A-32-21920/06-2/1922-B. The Arbitration Court of Krasnodar Region is located at: Krasnaya Str. 6 Krasnodar Region Russia The Debtor can be reached at: LLC Slavyabskaya Aviation Slavyansk-na-Kubani Krasnodar Region Russia STAVROPOL FARM: Creditors Must File Claims by January 2, 2007 ------------------------------------------------------------- Creditors of CJSC Stavropol Farm Products (TIN 2602004020) have until Jan. 2, 2007, to submit written proofs of claim to: M. Kotlyarov, Insolvency Manager Proizvodstvennaya Str. 20 610021 Kirov Region Russia The Arbitration Court of Stavropol Region commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A63-3842/02-S5. The Arbitration Court of Stavropol Region is located at: Mira Str. 4586 Stavropol Region Russia The Debtor can be reached at: CJSC Stavropol Farm Products Sovetskaya Str. 37. Divnoye Apanasenskovskiy Region Stavropol Region Russia VNESHTORGBANK JSC: Inks US$70-Mln Loan for OJSC Kreditprombank ---------------------------------------------------------------- Vneshtorgbank JSC, Alpha Bank, Fortis Bank S.A./N.V. and WestLB AG, London Branch, as Mandated Lead Arrangers, and a consortium of lenders have signed into a US$70-million Syndicated term loan facility for OJSC Kreditprombank. Due to a significant oversubscription, the loan was increased from the initial amount of US$30 million. The loan bears a margin of 2.35% p.a. and has maturity of 364 days with an extension option for further 364 days. These banks have joined the Facility: -- Arrangers: -- VTB Europe Plc, and -- HSBC Bank Plc -- Co-Arrangers -- Anglo-Romanian Bank Limited, and -- GarantiBank International N.V. -- Lead Managers -- Bank of India, -- Banque BIA, -- International Moscow Bank, -- Finansbank (Holland) N.V., and -- Hypo Alpe Adria Bank. About Kreditprombank Headquartered in Kiev, Ukraine, OJSC Kreditprombank -- http://www.kreditprombank.com/eng/-- provides financial services to corporate clients from more than 5000 organizations including core-forming enterprises of energy economy, military sector, chemical industry, metal manufacture, pharmaceutical, food and light industries, telecommunications and trade and service enterprises. The bank supports intensively small and medium-sized business granting finance on favorable terms under MSP-2 credit line of the European Bank for Reconstruction and Development for small and medium enterprises. About Vneshtorgbank Headquartered in Moscow, Russia, JSC Vneshtorgbank -- http://www.vtb.ru/-- and its subsidiaries offers a wide range of banking services and conducting operations in both Russian and international markets. As of Dec. 31, 2005, the Group had a network of 151 branches, including 55 branches of VTB, 42 branches of VTB Retail Services and 54 branches of Industry and Construction Bank, located in major Russian regions. The Group operates through three subsidiaries located in the CIS (Armenia, Georgia, Ukraine), seven subsidiaries located in Western Europe (Austria, Cyprus, Switzerland, Germany, Luxembourg, France) and Great Britain and through five representative offices located in India, Italy, China, Byelorussia and Ukraine. * * * Following the recent upgrade of the Russian sovereign foreign and local currency IDRs to BBB+ from BBB, Fitch ratings lifted Vneshtorgbank's Upgraded to foreign currency and local currency IDR to BBB+ from BBB with a Stable Outlook and Short-term to F2 from F3. Fitch also affirmed the Individual rating at C/D and Support at 2. Fitch also upgraded Vnesheconombank IDR rating to BBB+ from BBB with a Stable Outlook; and Short-term to F2 from F3. Fitch affirmed the Support rating at 2. VOROBYEVSKOYE CJSC: Creditors Must File Claims by Jan. 2, 2007 -------------------------------------------------------------- Creditors of CJSC Vorobyevskoye have until Jan. 2, 2007, to submit written proofs of claim to: V. Babenko, Insolvency Manager Nakhimova Str. 13/1 634034 Tomsk Region Russia The Arbitration Court of Novosibirsk Region commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A45-13389/06-48/310. The Arbitration Court of Novosibirsk Region is located at: Kirova Str. 3 630007 Novosibirsk Region Russia The Debtor can be reached at: CJSC Vorobyevskoye Nakhimova Str. 13/1 634034 Tomsk Region Russia VORONEZH-FISH-COMPLEX: Creditors' Claims Due January 2, 2007 ------------------------------------------------------------ Creditors of OJSC Voronezh-Fish-Complex have until Jan. 2, 2007, to submit written proofs of claim to: V. Volodin, Temporary Insolvency Manager Konno-Streletskaya Str. 45 394055 Voronezh Region Russia The Arbitration Court of Voronezh Region has commenced bankruptcy supervision procedure on the company. The case is docketed under Case No. A14-14617/2006-222/16b. The Court will hear the case at 10:30 a.m. on Feb. 7, 2007. The Arbitration Court of Voronezh Region is located at: Room 606 Srednemoskovskaya Str. 77 Voronezh Region Russia The Debtor can be reached at: OJSC Voronezh-Fish-Complex Patriotov Pr. 49 Voronezh Region Russia YUKOS OIL: Court Moves Yugansk Unit Hearing to Jan. 25, 2007 ------------------------------------------------------------ The Moscow Arbitration Court postponed until Jan. 25, 2007, hearings of a lawsuit by OAO Yukos Oil. Co. seeking to invalidate an auction that sold main production unit Yuganskneftegaz, and demanding US$14.8 billion in damages, RIA Novosti says. The court has concluded its preliminary hearings. As reported in the TCR-Europe on Oct. 10, Yugansk, the former core production unit of Yukos, was bought by state-owned Rosneft in December 2004 after the Russian government seized the asset as payment for more than US$30 billion in tax arrears for 2000- 2003. Yukos, declared bankrupt on Aug. 1, retains a stake in Yugansk. As reported in the Troubled Company Reporter on June 16, 2005, Yukos asked the court to annul the auction where 43 shares, representing 76.79% of Authorized Capital of Yugansk, were sold, and the deed of sale of the shares in unit, as well as for reimbursement of damages suffered as a result of the auction in the amount in excess of RUB324 billion. The case is filed against the Russian Federal Property Fund (RFFI), OOO Baikal Finance Group, OAO Rosneft, OOO Gazpromneft, OAO Gazprom, and the Finance Ministry of Russian Federation. Respondent's interveners in the case are the Main Directorate of the Justice Ministry of Russian Federation for the city of Moscow, Federal Anti-Monopoly Service and OAO Yuganskneftegas. YUKOS has also filed for the court to seize the Yuganskneftegas shares in question under the legal process. In its motion, Yukos contests that its core asset was expropriated to satisfy the demands of tax authorities while the lawsuits addressing the legitimacy of those tax claims, against which Yukos is presently appealing, are still being heard by various courts in Russia. The Company's claim demands that the auction be ruled invalid. Yukos contests that due to unjustified undercutting of the selling price of Yuganskneftegas' shares and grave violations of law in announcing and holding the auction, the auction process itself was illegal. The claim cites specific violations including the fact that RFFI unlawfully set its own terms for the sale of Yukos's property resulting in Yuganskneftegas shares being sold below the market value or the value determined by the Russian Federation's own evaluation company, Dresdner Kleinwort Wasserstein. Breaches of Russian law during preparation and holding of the auction included: -- failure to comply with the legal requirement to announcing the timing of the auction and thus ruling out some potential buyers; -- neglecting to follow the very clear and defined procedure for conducting such an auction; and -- the direct and unwarranted interference of government bodies in the auction process. Yukos Oil Company contests in its claim that the auction was a sham and a 'front' for the expropriation of property in favor of a named state-owned company, OAO Rosneft. About Yukos Headquartered in Moscow, Yukos Oil -- http://yukos.com/-- is an open joint stock company existing under the laws of the Russian Federation. Yukos is involved in energy industry substantially through its ownership of its various subsidiaries, which own or are otherwise entitled to enjoy certain rights to oil and gas production, refining and marketing assets. The Company filed for Chapter 11 protection Dec. 14, 2004 (Bankr. S.D. Tex. Case No. 04-47742), but the case was dismissed on Feb. 24, 2005, by the Hon. Letitia Z. Clark. A few days later, the Government sold its main production unit Yugansk, to a little-known firm Baikalfinansgroup for US$9.35 billion, as payment for US$27.5 billion in tax arrears for 2000- 2003. Yugansk eventually was bought by state-owned Rosneft, which is now claiming more than US$12 billion from Yukos. On March 10, a 14-bank consortium led by Societe Generale filed a bankruptcy suit in the Moscow Arbitration Court in an attempt to recover the remainder of a US$1 billion debt under outstanding loan agreements. The banks, however, sold the claim to Rosneft, prompting the Court to replace them with the state- wned oil company as plaintiff. On April 13, court-appointed external manager Eduard Rebgun filed a chapter 15 petition in the U.S. Bankruptcy Court for the Southern District of New York (Bankr. S.D.N.Y. Case No. 06- 0775), in an attempt to halt the sale of Yukos' 53.7% ownership interest in Lithuanian AB Mazeikiu Nafta. On May 26, Yukos signed a US$1.49 billion Share Sale and Purchase Agreement with PKN Orlen S.A., Poland's largest oil refiner, for its Mazeikiu ownership stake. The move was made a day after the Manhattan Court lifted an order barring Yukos from selling its controlling stake in the Lithuanian oil refinery. On July 25, Yukos creditors voted to liquidate the oil firm after rejecting a management rescue plan, which valued the company's assets at about US$30 billion. This would have permitted Yukos to continue its operations and attempt to pay off US$18 billion in debts through asset sales. The Hon. Pavel Markov of the Moscow Arbitration Court upheld creditors' vote to liquidate Yukos Oil and declared what was once Russia's biggest oil firm bankrupt on Aug. 1. The expected court ruling paves the way for the company's liquidation and auction. YUKOS OIL: Federal Bailiffs Raise Tax Claim to US$15.5 Billion -------------------------------------------------------------- The Moscow Arbitration Court granted a petition filed by the Federal Bailiffs Service asking for a US$1.45-billion increase in its claims against bankrupt OAO Yukos Oil Co., RIA Novosti reports. The increase mostly represents US$1.21 billion in tax arrears for 2005. With the increase, Federal Taxation Service's claim against Yukos Oil now stands at US$15.5 billion. As reported in the TCR-Europe on Nov. 20, the Court upheld additional back-tax and corporate claims prompting an increase in debt claims against Yukos. Yukos is ordered to pay US$23.6 billion, including a US$1.6 billion (RUR42.04 billion) increase approved by the arbitration court. The court ordered Yukos to include into tis claims registry the Federal Tax Service's claim of RUR42 billion (US$1.58 billion), along with claims from three oil companies: -- Ulyanovsknefteprodukt (RUR21.7 million/US$814,000), -- Tomsknefteprodukt (RUR41.6 million/US$1.6 million), and -- Ecoproekt (RUR6.2 million/US$233,000). As of Nov. 2, up to US$22 billion (RUR586.6 billion) in claims have been asserted against Yukos Oil. However, the list of creditors, originally numbering at 54, has now expanded to more than 60 registered creditors. Headquartered in Moscow, Yukos Oil -- http://yukos.com/- is an open joint stock company existing under the laws of the Russian Federation. Yukos is involved in energy industry substantially through its ownership of its various subsidiaries, which own or are otherwise entitled to enjoy certain rights to oil and gas production, refining and marketing assets. The Company filed for Chapter 11 protection Dec. 14, 2004 (Bankr. S.D. Tex. Case No. 04-47742), but the case was dismissed on Feb. 24, 2005, by the Hon. Letitia Z. Clark. A few days later, the Government sold its main production unit Yugansk, to a little-known firm Baikalfinansgroup for US$9.35 billion, as payment for US$27.5 billion in tax arrears for 2000- 2003. Yugansk eventually was bought by state-owned Rosneft, which is now claiming more than US$12 billion from Yukos. On March 10, a 14-bank consortium led by Societe Generale filed a bankruptcy suit in the Moscow Arbitration Court in an attempt to recover the remainder of a US$1 billion debt under outstanding loan agreements. The banks, however, sold the claim to Rosneft, prompting the Court to replace them with the state- owned oil company as plaintiff. On April 13, court-appointed external manager Eduard Rebgun filed a chapter 15 petition in the U.S. Bankruptcy Court for the Southern District of New York (Bankr. S.D.N.Y. Case No. 06- 0775), in an attempt to halt the sale of Yukos' 53.7% ownership interest in Lithuanian AB Mazeikiu Nafta. On May 26, Yukos signed a US$1.49 billion Share Sale and Purchase Agreement with PKN Orlen S.A., Poland's largest oil refiner, for its Mazeikiu ownership stake. The move was made a day after the Manhattan Court lifted an order barring Yukos from selling its controlling stake in the Lithuanian oil refinery. On Aug. 1, the Hon. Pavel Markov of the Moscow Arbitration Court upheld creditors' vote to liquidate OAO Yukos Oil Co. and declared what was once Russia's biggest oil firm bankrupt. The expected court ruling paves the way for the company's liquidation and auction. ===================== S W I T Z E R L A N D ===================== ARMTECH JSC: Aargau Court Closes Bankruptcy Proceedings ------------------------------------------------------- The Bankruptcy Court of Aargau entered Oct. 30 an order closing the bankruptcy proceedings of JSC Armtech. The Debtor can be reached at: JSC Armtech in liquidation Birracherstrasse 22 8966 Oberwil-Lieli Switzerland The Bankruptcy Service of Aargau can be reached at: Bankruptcy Service of Aargau Administrative Department Baden 5400 Baden Switzerland BUZZI KUNSTSTEIN: Liestal Court Closes Bankruptcy Proceedings ------------------------------------------------------------- The Bankruptcy Court of Liestal entered Nov. 7 an order closing the bankruptcy proceedings of JSC Buzzi Kunststein. The Debtor can be reached at: JSC Buzzi Kunststein Mattenweg 3 4416 Bubendorf Switzerland The Bankruptcy Service of Liestal can be reached at: Bankruptcy Service of Liestal 4410 Liestal Switzerland FUTTERKORB JSC: Aargau Court Starts Bankruptcy Proceedings ---------------------------------------------------------- The Bankruptcy Court of Aargau commenced bankruptcy proceedings against JSC Futterkorb on Nov. 2. The Debtor can be reached at: JSC Futterkorb Munzelwald 5 5506 Magenwil Switzerland The Bankruptcy Service of Aargau can be reached at: Bankruptcy Service of Aargau Administrative Department Baden 5402 Baden Switzerland HOLWECK JSC: Aargau Court Starts Bankruptcy Proceedings ------------------------------------------------------- The Bankruptcy Court of Aargau commenced bankruptcy proceedings against JSC Holweck on Nov. 13. The Debtor can be reached at: JSC Holweck Oberebenestrasse 63 5620 Bremgarten AG Switzerland The Bankruptcy Service of Aargau can be reached at: Bankruptcy Service of Aargau Administrative Department Baden 5400 Baden Switzerland STAR BODENBELAG: Aargau Court Starts Bankruptcy Proceedings ----------------------------------------------------------- The Bankruptcy Court of Aargau commenced bankruptcy proceedings against JSC Star Bodenbelag on Nov. 7. The Debtor can be reached at: JSC Star Bodenbelag Wettingerstrasse 7 5400 Baden Switzerland The Bankruptcy Service of Aargau can be reached at: Bankruptcy Service of Aargau Administrative Department Baden 5402 Baden Switzerland STICKEREI WEHRLI: Court Suspends Bankruptcy Proceedings ------------------------------------------------------ The Bankruptcy Court of Aargau suspended the bankruptcy proceedings of JSC Stickerei Wehrli und Handel on Nov. 27, pursuant to Article 230 of the Swiss Bankruptcy Code. The bankruptcy proceedings will be declared closed once creditors fail to submit their claims and pay a CHF4,000 deposit. The right for the additional deposit is retained. The Debtor, declared bankrupt on Sept. 18, can be reached at: JSC Stickerei Wehrli und Handel Mutschellenstrasse 19 8964 Rudolfstetten-Friedlisberg Switzerland The Bankruptcy Service of Aargau can be reached at: Bankruptcy Service of Aargau Administrative Department Baden 5400 Baden Switzerland SWISSFLOOR UNTERLAGSBODEN: Court Suspends Bankruptcy Proceedings ---------------------------------------------------------------- The Bankruptcy Court of Aargau suspended the bankruptcy proceedings of JSC Swissfloor Unterlagsboden on Nov. 27, pursuant to Article 230 of the Swiss Bankruptcy Code. The bankruptcy proceedings will be declared closed once creditors fail to submit their claims and pay a CHF5,000 deposit. The right for the additional deposit is retained. The Debtor, declared bankrupt on Oct. 31, can be reached at: JSC Swissfloor Unterlagsboden Farbestrasse 5 4665 Oftringen Switzerland The Bankruptcy Service of Aargau can be reached at: Bankruptcy Service of Aargau Administrative Department Oberentfelden 5036 Oberentfelden Switzerland THOMA PARTNER: Aargau Court Suspends Bankruptcy Proceedings ----------------------------------------------------------- The Bankruptcy Court of Aargau suspended the bankruptcy proceedings of JSC Thoma Partner on Nov. 27, pursuant to Article 230 of the Swiss Bankruptcy Code. The bankruptcy proceedings will be declared closed once creditors fail to submit their claims and pay a CHF4,000 deposit. The right for the additional deposit is retained. The Debtor, declared bankrupt on Sept. 11, can be reached at: JSC Thoma Partner Ausserfeldstrasse 28 5032 Rohr AG Switzerland The Bankruptcy Service of Aargau can be reached at: Bankruptcy Service of Aargau Administrative Department Oberentfelden 5036 Oberentfelden Switzerland ============= U K R A I N E ============= AGRO LUX: Deadline for Claims Filing Set January 12, 2007 --------------------------------------------------------- Creditors of LLC Agro Lux (code EDRPOU 32266993) have until Jan. 12, 2007, to submit their proofs of claim to: V. Kosovskiy, Insolvency Manager Viyskoviy Avenue 6 73000 Herson Region Ukraine The Economic Court of Herson commenced bankruptcy proceedings against the company on Nov. 21 after finding it insolvent. The case is docketed under Case No. 12/165-B-06. The Economic Court of Herson Region is located at: Gorkiy Str. 18 73000 Herson Region Ukraine The Debtor can be reached at: LLC Agro Lux Ukrainskaya Str. 28 Herson Region Ukraine ALPHA BANK: Inks US$70-Mln Loan Facility for Kreditprombank OJSC ---------------------------------------------------------------- Vneshtorgbank JSC, Alpha Bank, Fortis Bank S.A./N.V. and WestLB AG, London Branch, as Mandated Lead Arrangers, and a consortium of lenders have signed into a US$70-million Syndicated term loan facility for OJSC Kreditprombank. Due to a significant oversubscription, the loan was increased from the initial amount of US$30 million. The loan bears a margin of 2.35% p.a. and has maturity of 364 days with an extension option for further 364 days. These banks have joined the Facility: -- Arrangers: -- VTB Europe Plc, and -- HSBC Bank Plc -- Co-Arrangers -- Anglo-Romanian Bank Limited, and -- GarantiBank International N.V. -- Lead Managers -- Bank of India, -- Banque BIA, -- International Moscow Bank, -- Finansbank (Holland) N.V., and -- Hypo Alpe Adria Bank. About Kreditprombank Headquartered in Kiev, Ukraine, OJSC Kreditprombank -- http://www.kreditprombank.com/eng/-- provides financial services to corporate clients from more than 5000 organizations including core-forming enterprises of energy economy, military sector, chemical industry, metal manufacture, pharmaceutical, food and light industries, telecommunications and trade and service enterprises. The bank supports intensively small and medium-sized business granting finance on favorable terms under MSP-2 credit line of the European Bank for Reconstruction and Development for small and medium enterprises. About Alfa Bank Headquartered in Moscow, Russia, Alfa Bank -- http://www.alfabank.com/-- provides services in every key sector of the financial service industry, including corporate banking, retail banking, investment banking, trade finance, insurance and asset management. Alfa Bank's branch network has grown to 121, including subsidiary banks in Russia, Ukraine, Kazakhstan and the Netherlands. In 2005 total assets of the Alfa Bank and its subsidiaries grew to US$9.8 billion, total equity increased to US$855.8 million, loan portfolio net of provisions increased to US$5.7 billion. The net profit for a year 2005 was US$180.6 million. * * * As reported in the TCR-Europe on Dec 26, Standard & Poor's Ratings Services raised its long-term counterparty credit rating on Alfa-Bank to BB from BB-. The short-term rating on the bank was affirmed at B. The outlook is stable. At the same time, the Russian national scale rating was raised to ruAA from ruAA-. As reported in the TCR-Europe on Oct. 6, Fitch Ratings assigned Alfa MTN Issuance Limited's US$400 million 7.875% notes issue due October 2009 a Long-term BB- rating. The proceeds from the issue will be on-lent to Alfa Bank, rated Issuer Default BB- /Outlook Stable, Short-term B, Support 4, Individual C/D, and National Long-term A+/Outlook Stable. As reported in the TCR-Europe on July 17, Moody's Investors Service upgraded Alfa Bank's Financial Strength Rating to D from D- and changed its outlook to stable from positive. At the same time, the bank's Ba2 long-term foreign currency deposit and senior unsecured debt ratings have been affirmed with their corresponding outlooks changed to stable. The bank's Not-Prime short-term foreign currency deposit and debt ratings and their outlook remain unchanged. FRESH WIND: Creditors Must File Claims by January 12, 2007 ---------------------------------------------------------- Creditors of CJSC Fresh Wind (code EDRPOU 06711498) have until Jan. 12, 2007, to submit their proofs of claim to: Roman Udovenko, Insolvency Manager Kharkovskaya Str. 122 Sumy Region Ukraine The Economic Court of Sumy Region commenced bankruptcy proceedings against the company after finding it insolvent on Nov. 30. The case is docketed under Case No. 6/117-06. The Economic Court of Sumy Region is located at: Shevchenko Avenue 18/1 40030 Sumy Region Ukraine The Debtor can be reached at: CJSC Fresh Wind Gorkiy Str. 25 40011 Sumy Region Ukraine INTERCONSULT LLC: Creditors Must File Claims by January 12, 2007 ---------------------------------------------------------------- Creditors of LLC Interconsult (code EDRPOU 209953647)have until Jan. 12, 2007, to submit their proofs of claim to: Viktor Darienko, Liquidator Sadovaya Str. 18/5 Odessa Region Ukraine The Economic Court of Odessa Region commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. 32/131-05-5890. The Economic Court of Odessa Region is located at: Shevchenko Avenue 4 65032 Odessa Region Ukraine The Debtor can be reached at: LLC Interconsult Promyshlennaya Str. 37 65031 Odessa Region Ukraine INVEST-TRADE LLC: Creditors Must File Claims by Jan. 12, 2007 ------------------------------------------------------------- Creditors of LLC Invest-Trade (code EDRPOU 32488345) have until Jan. 12, 2007, to submit their proofs of claim to: Vladimir Oksanich, Insolvency Manager a/b 265 01150 Kyiv Region Ukraine The Economic Court of Kyiv Region commenced bankruptcy proceedings against the company after finding it insolvent on Nov. 28, 2006. The case is docketed under Case No. 15/624-B. The Economic Court of Kyiv Region is located at: B. Hmelnitskij Boulevard 44-B 01030 Kyiv Region Ukraine The Debtor can be reached at: LLC Invest-Trade Yaltinskaya Str. 5-b Kyiv Region Ukraine KATERINOVKA LLC: Creditors Must File Claims by January 12, 2007 --------------------------------------------------------------- Creditors of have until Jan. 12, 2007, to submit their proofs of claim to: C. Kovalenko, Temporary Insolvency Manager Blagovestnaya Str. 299 18000 Cherkassy Region Ukraine The Economic Court of Cherkassy Region commenced bankruptcy supervision procedure on Agricultural LLC Katerinovka (CODE EDRPOU 05492605) on Nov. 20. The Economic Court of Cherkassy Region is located at: Shevchenko Avenue 307 18005 Cherkassy Region Ukraine The Debtor can be reached at: Agricultural LLC Katerinovka Moskovskaya Str. 78 Katerinovka Kamyansk District 20831 Cherkassy Region Ukraine KREDITPROMBANK OJSC: Inks US$70-Million Loan Facility ----------------------------------------------------- Vneshtorgbank JSC, Alpha Bank, Fortis Bank S.A./N.V. and WestLB AG, London Branch, as Mandated Lead Arrangers, and a consortium of lenders have signed into a US$70-million Syndicated term loan facility for OJSC Kreditprombank. Due to a significant oversubscription, the loan was increased from the initial amount of US$30 million. The loan bears a margin of 2.35% p.a. and has maturity of 364 days with an extension option for further 364 days. These banks have joined the Facility: -- Arrangers: -- VTB Europe Plc, and -- HSBC Bank Plc -- Co-Arrangers -- Anglo-Romanian Bank Limited, and -- GarantiBank International N.V. -- Lead Managers -- Bank of India, -- Banque BIA, -- International Moscow Bank, -- Finansbank (Holland) N.V., and -- Hypo Alpe Adria Bank. About Kreditprombank Headquartered in Kiev, Ukraine, OJSC Kreditprombank -- http://www.kreditprombank.com/eng/-- provides financial services to corporate clients from more than 5000 organizations including core-forming enterprises of energy economy, military sector, chemical industry, metal manufacture, pharmaceutical, food and light industries, telecommunications and trade and service enterprises. The bank supports intensively small and medium-sized business granting finance on favorable terms under MSP-2 credit line of the European Bank for Reconstruction and Development for small and medium enterprises. * * * As reported in the TCR-Europe on Oct. 23, Moody's Investors Service assigned a B2 long-term foreign currency debt rating to the upcoming issue of Loan Participation Notes to be issued by HSBC Bank plc (U.K.) on a limited recourse basis for the sole purpose of funding a senior unsecured loan to Kreditprombank. The outlook for the rating is stable. The B2 rating is primarily based on the credit quality of Kreditprombank as an underlying borrower. However, Moody's notes that the structure of the transaction does not completely eliminate the credit risk inherent to HSBC Bank plc as both issuer of the notes and a principal paying agent, given that it has not charged and assigned its rights and interests to the trustee for the LPN holders. At the same time, Fitch Ratings assigned HSBC Bank PLC's upcoming issue of limited recourse loan participation notes expected ratings of Recovery RR4 and Long-term B-. The notes are to be used solely for financing a loan to Ukraine- based Kreditprombank, which is rated Issuer Default B-, Short- term B, Individual D/E, Support 5, and National Long-term BBB-. The Outlooks on the Issuer Default and National long-term ratings are Stable. UKRSERVICE LLC: Claims Filing Period Ends January 12, 2007 ---------------------------------------------------------- Creditors of LLC Ukrservice (code EDRPOU 21073279) have until Jan. 12, 2007, to submit their proofs of claim to: D. Petrenko, Temporary Insolvency Manager Geroev Stalingrada Str. 28 39400 Poltava Region Ukraine The Economic Court of Poltava Region commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. 18/256. The Economic Court of Poltava Region is located at: Zigina Str. 1 36000 Poltava Region Ukraine The Debtor can be reached at: LLC Ukrservice Geroev Stalingrada Str. 28 39400 Poltava Region Ukraine VNESHTORGBANK JSC: Inks US$70-Mln Loan for OJSC Kreditprombank ---------------------------------------------------------------- Vneshtorgbank JSC, Alpha Bank, Fortis Bank S.A./N.V. and WestLB AG, London Branch, as Mandated Lead Arrangers, and a consortium of lenders have signed into a US$70-million Syndicated term loan facility for OJSC Kreditprombank. Due to a significant oversubscription, the loan was increased from the initial amount of US$30 million. The loan bears a margin of 2.35% p.a. and has maturity of 364 days with an extension option for further 364 days. These banks have joined the Facility: -- Arrangers: -- VTB Europe Plc, and -- HSBC Bank Plc -- Co-Arrangers -- Anglo-Romanian Bank Limited, and -- GarantiBank International N.V. -- Lead Managers -- Bank of India, -- Banque BIA, -- International Moscow Bank, -- Finansbank (Holland) N.V., and -- Hypo Alpe Adria Bank. About Kreditprombank Headquartered in Kiev, Ukraine, OJSC Kreditprombank -- http://www.kreditprombank.com/eng/-- provides financial services to corporate clients from more than 5000 organizations including core-forming enterprises of energy economy, military sector, chemical industry, metal manufacture, pharmaceutical, food and light industries, telecommunications and trade and service enterprises. The bank supports intensively small and medium-sized business granting finance on favorable terms under MSP-2 credit line of the European Bank for Reconstruction and Development for small and medium enterprises. About Vneshtorgbank Headquartered in Moscow, Russia, JSC Vneshtorgbank -- http://www.vtb.ru/-- and its subsidiaries offers a wide range of banking services and conducting operations in both Russian and international markets. As of Dec. 31, 2005, the Group had a network of 151 branches, including 55 branches of VTB, 42 branches of VTB Retail Services and 54 branches of Industry and Construction Bank, located in major Russian regions. The Group operates through three subsidiaries located in the CIS (Armenia, Georgia, Ukraine), seven subsidiaries located in Western Europe (Austria, Cyprus, Switzerland, Germany, Luxembourg, France) and Great Britain and through five representative offices located in India, Italy, China, Byelorussia and Ukraine. * * * Following the recent upgrade of the Russian sovereign foreign and local currency IDRs to BBB+ from BBB, Fitch ratings lifted Vneshtorgbank's Upgraded to foreign currency and local currency IDR to BBB+ from BBB with a Stable Outlook and Short-term to F2 from F3. Fitch also affirmed the Individual rating at C/D and Support at 2. Fitch also upgraded Vnesheconombank IDR rating to BBB+ from BBB with a Stable Outlook; and Short-term to F2 from F3. Fitch affirmed the Support rating at 2. =========================== U N I T E D K I N G D O M =========================== ABBEY WINDOWS: Claims Filing Period Ends Jan. 31, 2007 ------------------------------------------------------ Creditors of Abbey Windows Limited have until Jan. 31, 2007, to send in their full names, their addresses and descriptions, full particulars of their debts or claims, and the names and addresses of their Solicitors (if any), to appointed Liquidator Charles Howard Ranby-Gorwood at: Alexandra Dock Business Centre Fisherman's Wharf Grimsby DN31 1UL United Kingdom The company can be reached at: Abbey Windows Limited Unit 8 The Maltings Ure Bank Top Ripon HG4 1AE United Kingdom Tel: 0800 3282796 AKER KVAERNER: Inks Another Deal with Northumbrian Water -------------------------------------------------------- Northumbrian Water has awarded Aker Kvaerner ASA a major contract to provide the process requirements for the latest improvement scheme at the Bran Sands Effluent Treatment Center. The award-winning Center, at Teesport, treats domestic sewage together with the waste from several industrial processes from the surrounding area. The improvement scheme will partition part of the process to provide bespoke treatment solutions for two industrial waste streams. Aker Kvaerner will provide the procurement, construction, functional commissioning, testing and training needs for the scheme. The contract has commenced, with a seven-month construction period. This latest contract is in addition to the five-year capital maintenance works that Aker Kvaerner has been carrying out since July 2005. As part of Northumbrian Water's current asset management program at Bran Sands, the work focuses on the continued smooth operation and productivity of the facilities. Aker Kvaerner also provides engineering expertise for all mechanical, electrical, process, control, instrumentation and telemetry requirements, and all civil engineering works. Northumbrian Water also recently awarded Aker Kvaerner its "Contractor Health and Safety Award" for 2006. Some 14 other contractors entered this award category and the achievement recognizes Aker Kvaerner's significant contribution to the promotion of health and safety in the business. About Aker Kvaerner Headquartered in Lysaker, Norway, Aker Kvaerner ASA -- http://www.akerkvaerner.com/-- through its subsidiaries and affiliates, provides engineering and construction services, technology products and integrated solutions. The company has operations in Brazil, Chile, China, India, Indonesia, Japan, Singapore, South Korea, Thailand and Malaysia. The Aker Kvaerner group is organized into two principal business streams, namely Oil & Gas and E&C, each consisting of a number of separate legal entities. * * * Moody's Investors Service, in April 2006, upgraded the of Aker Kvaerner Oil & Gas Group and Aker Kvaerner AS, primarily to reflect the sustainable strong recovery in profitability and cash flow generation of the ring-fenced oil and gas group over the past two years, coupled with the clear reduction in senior debt, repaid from internally generated funds. Ratings affected: Aker Kvaerner Oil & Gas Group AS -- Corporate family rating: upgraded to Ba1 from Ba3 Aker Kvaerner AS -- Rating of the second priority lien notes due 2011: upgraded to Ba1 from Ba3. Moody's said the outlook on all ratings is stable. BENEFON OYJ: Forecasts Higher Net Sales Figure for 2006 ------------------------------------------------------- Benefon Oyj updated and replaced its earlier projections released on the Oct. 3, and per the third quarter interim report released Nov. 17, the company expects to take delivery of at minimum 20,000 and at maximum 40,000 handsets by the end of the year. Benefon also updated and replaced its net sales target for the year 2006 released in bulletins of Oct. 3 and Nov. 17 and announced that its net sales for this year should marginally exceed the level of year 2005 net sales. The company has experienced strong demand for the TWIG Discovery model in the U.S. market and expects to make initial shipments into that market prior to yearend as compared to original expectations of shipping during the middle of 2007. The company has also begun commercial shipments of TWIG Discovery into selected European markets. It is anticipated that U.K. operator acceptance will take place in early 2007, which will result in delays to the fulfillment of the UK's 20:20 contract. Network conformance for TWIG Discovery in the U.K. has been delayed due to technical issues that have taken time to resolve. These issues have now been corrected and Benefon is awaiting the results of the re-testing. The Chinese launch of TWIG Discovery is expected to take place in first quarter 2007, a slight delay, due to longer than anticipated Chinese regulatory approval. Chinese shipments will be co branded with China Potevio's Capitel brand. Capitel is a leading handset provider and division of China Potevio, one of the largest state owned telecommunications companies in mainland China. About Benefon Headquartered in Salo, Finland, Benefon Oyj -- http://www.benefon.com/-- provides mobile telematics solutions saving lives, securing assets and improving field management. The company also operates in the Czech Republic, Russia and the U.K. At Dec. 31, 2005, Benefon Oyj's had EUR4.97 million in total assets and EUR7.30 million in total liabilities, resulting in a EUR2.33 million stockholders' deficit. BENEFON OYJ: Unveils Financial Calendar for Fiscal Year 2007 ------------------------------------------------------------ Benefon Oyj will make public the financial statements on fiscal year 2006 and the interim reports of fiscal year 2007 according to schedule: Financial Results for: Release Date: ---------------------- ------------- Full Year 2006 Feb. 28, 2007 First Qtr. 2007 May 22, 2007 Second Qtr. 2007 Aug. 21, 2007 Third Qtr. 2007 Nov. 20, 2007 About Benefon Headquartered in Salo, Finland, Benefon Oyj -- http://www.benefon.com/-- provides mobile telematics solutions saving lives, securing assets and improving field management. The company also operates in the Czech Republic, Russia and the U.K. At Dec. 31, 2005, Benefon Oyj's had EUR4.97 million in total assets and EUR7.30 million in total liabilities, resulting in a EUR2.33 million stockholders' deficit. BGM CRYOGENIC: Appoints Administrators from BDO Stoy ---------------------------------------------------- Martha H Thompson and Antony David Nygate of BDO Stoy Hayward LLP were appointed joint administrators of BGM Cryogenic Engineering Ltd. (Company Number 02672710) on Nov. 29. BDO Stoy Hayward -- http://www.bdo.co.uk/-- focuses on business assurance (audit), corporate advisory, tax, and investment management services, specializing in such industries as charities, educational institutions, family businesses, financial services, leisure, and hospitality. The company is the U.K . arm of BDO International and has offices in more than 15 cities throughout the U.K. Headquartered in Leeds, England, BGM Cryogenic Engineering Ltd. manufactures measuring instruments. BIRMINGHAM INTERNATIONAL: Names Gagen Sharma as Administrator ------------------------------------------------------------- Gagen Dulari Sharma of Sharma & Co. was named administrator of Birmingham International College U.K. Ltd. (Company Number 04261256) on Dec. 5. The administrator can be reached at: Gagen Dulari Sharma Sharma & Co. 50 Newhall Street Birmingham West Midlands B3 3QE Tel: 0121 248 5007 Fax: 0121 248 5010 E-mail: gagen@sharmaandco.com Birmingham International College U.K. Ltd. can be reached at: 73 Francis Road Edgbaston Birmingham West Midlands B16 8SP United Kingdom Tel: 01214102760 CBL LIMITED: Taps Baker Tilly to Administer Assets -------------------------------------------------- N. Millar and Alec Pillmore of Baker Tilly were appointed joint administrators of CBL (Realisations) Ltd. (Company Number 00815047) on Nov. 29. Baker Tilly -- http://www.bakertilly.co.uk/-- provides auditing and other services for mid-cap and smaller publicly listed companies and private companies, particularly those expanding into new foreign markets. Services include business and financial planning, tax-related services, corporate finance, litigation support, turnaround services, and technology consulting. Headquartered in Great Yarmouth, England, CBL (Realisations) Ltd. bakes bread, fresh pastry and cakes. CCA GROUP: Brings In PwC as Joint Administrators ------------------------------------------------ Russell Stewart Cash and Ian David Green of PricewaterhouseCoopers LLP were appointed joint administrators of CCA Holdings Ltd. (Company Number 03765206) and CCA Group Ltd. (Company Number 02667669) on Dec. 11. PricewaterhouseCoopers LLP -- http://www.pwcglobal.com/-- provides auditing services, accounting advice, tax compliance and consulting, financial consulting and advisory services to clients in a variety of industries. Headquartered in Fulwood, England CCA Holdings Ltd. and CCA Group Ltd. manufactures paper stationery. CHEKEMCOLOUR LTD: Appoints Begbies Traynor to Administer Assets --------------------------------------------------------------- Paul Stanley and Stephen L. Conn of Begbies Traynor were appointed joint administrators of Chekemcolour Ltd. (Company Number 01364193) on Dec. 6. Begbies Traynor -- http://www.begbies.com/-- assists companies, creditors, financial institutions and individuals on all aspects of financial restructuring and corporate recovery. Headquartered in Elland, England, Chekemcolour Ltd. manufactures and sells dyestuff and chemicals. CLAIMWOOD LTD: Taps Administrators from Lines Henry --------------------------------------------------- Neil Henry and Michael Simister of Lines Henry were appointed joint administrators of Claimwood Ltd. (Company Number 01690534) on Dec. 13. The administrators can be reached at: Neil Henry and Michael Simister Lines Henry Sixth Floor Grafton Tower Stamford New Road Altrincham Cheshire WA14 1DQ United Kingdom Claimwood Ltd. can be reached at: Unit 16 Reliance Trading Estate Manchester Lancashire M40 3AG United Kingdom Tel: 0161 682 2806 Fax: 0161 682 4519 COMPUTER NETWORKING: Joint Liquidators Take Over Operations ----------------------------------------------------------- Carl Derek Faulds and James Richard Tickell of Portland Business & Financial Solutions Ltd. were appointed Joint Liquidators of Computer Networking Products Ltd. on Dec. 15. The company cn be reached at: Computer Networking Products Ltd. Unit 21 Kingfisher Court Newbury Berkshire RG145 SJ United Kingdom Tel: 0845 644 6603 CORBETT PACKAGING: Appoints Administrators from Grant Thornton -------------------------------------------------------------- Leslie Ross and Keith Hinds of Grant Thornton were appointed joint administrators of Corbett Packaging Ltd. (Company Number 00803061) on Dec. 6. Grant Thornton U.K. LLP -- http://www.grant-thornton.co.uk/-- provides value-added professional services as assurance services, compensation and benefits, merger and acquisition transaction services, management advisory services, tax consulting and valuation services. Headquartered in Wigan, England, Corbett Packaging Ltd. manufactures corrugated cartons, boxes and cases. DARTEX OFFICE: Taps RSM Robson to Administer Assets --------------------------------------------------- David Michael Riley and Simon Peter Bower of RSM Robson Rhodes LLP were appointed joint administrators of Dartex Office Furniture Ltd. (Company Number 01695388) on Dec. 11. RSM Robson Rhodes LLP -- http://www.robsonrhodes.co.uk/-- provides a wide range of auditing, assurance, advisory and compliance services for both private and public sectors. The firm is a member of the RSM International, the world's sixth largest international organization of accountants and business advisers. Headquartered in Dartford, England, Dartex Office Furniture Ltd. installs and supplies office furniture. DURA AUTOMOTIVE: Wants Until January 31 to File Schedules --------------------------------------------------------- DURA Automotive Systems, Inc. and its debtor-affiliates, pursuant to Rule 1007(c) of the Federal Rules of Bankruptcy Procedure, and Rule 1007-1 of the Local Rules of Bankruptcy Practice and Procedure of the U.S. Bankruptcy Court for the District of Delaware, ask for the further extension to Jan. 31, 2007, the deadline to file their: -- schedules of assets and liabilities, -- schedules of current income and expenditures, -- schedules of executory contracts and unexpired leases, and -- statements of financial affairs. Mark D. Collins, Esq., at Richards, Layton & Finger, P.A., in Wilmington, Delaware, tells Judge Carey that, because of the decentralized nature of their businesses, the Debtors' progress in collecting, reviewing, and assembling information for the Schedules and Statements have been slow. In addition, Mr. Collins relates, the Debtors have engaged a new financial advisor, AlixPartners, LLP. AlixPartners has assessed the information that has been gathered by the Debtors and determined that they will require additional time to complete the Schedules and Statements. Rochester Hills, Mich.-based DURA Automotive Systems, Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had US$1,993,178,000 in total assets and US$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 7; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). DURA AUTOMOTIVE: Wants to File Lear Settlement Pact Under Seal -------------------------------------------------------------- DURA Automotive Systems, Inc. and its debtor-affiliates seek authority from the U.S. Bankruptcy Court for the District of Delaware to file, under seal, the Settlement Agreement and the terms thereof, and the Motion of Lear Corporation. Pursuant to various documents and purchase orders, Dura Automotive Systems, Inc., supplied component parts that Lear Corporation used to fulfill manufacturing agreements with General Motors, Ford, and other original equipment manufacturers, relates Albert Togut, Esq., at Togut, Segal & Segal LLP, in New York. Several years before the Debtors filed for chapter 11 protection, Lear brought an action in State Court against Dura to recover damages for claims asserted against Lear by GM and Ford. Lear sought (i) damages for alleged defects in goods that Dura sold to Lear, which Lear in turn used in products that it provided to GM and Ford, and (ii) injunctive relief to require Dura to continue shipping to Lear despite Lear's recoupment from amounts due to Dura. The State Court granted Lear's injunctive relief and required Dura to ship goods without payment from Lear. In the months prior to the Petition Date, the Debtors and Lear reached a comprehensive settlement of the Lear Claims and the Lear Action and the modification of the Lear Contracts. Pursuant to Sections 105 and 365 of the Bankruptcy Code and Rule 9019 of the Federal Rules of Bankruptcy Procedure, the Debtors seek the Court's authority to assume the Settlement Agreement and the Purchase Orders. As a condition to assumption, Lear has required that Dura keep the terms of the Settlement Agreement confidential, particularly because certain terms therein are commercially sensitive, Mr. Togut tells the Court. This confidentiality requirement is memorialized in the Settlement Agreement. Mr. Togut explains that the automotive industry is highly competitive, and many of the parties-in-interest in the Debtors' Chapter 11 cases are direct competitors or customers of the Debtors and Lear. If the information contained in the Settlement Agreement is disclosed pursuant to a public filing, the Debtors' competitors and customers would gain access to specific confidential and commercial information related to the Debtors' business relationship with Lear that could be detrimental to the Debtors' reorganization efforts, Mr. Togut avers. Notwithstanding their request, the Debtors have provided copies of the Settlement Agreement and the Lear Motion to Lear, the Official Committee of Unsecured Creditors, and the Office of the United States Trustee. In Dura's Form 10-Q filing with the Securities and Exchange Commission, Keith R. Marchiando, Dura's vice president and chief financial officer, said that subsequent to October 1, 2006, Dura settled the warranty matter, along with a previously outstanding warranty matter, to Lear for approximately US$9,000,000. "We had previously recorded reserves for our estimated exposure of the known outstanding matter. However, we recorded an additional charge of [$5,400,000] related to the final settlement of both matters . . ." Mr. Marchiando said. Rochester Hills, Mich.-based DURA Automotive Systems, Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The Debtors filed for chapter 11 petition on October 30, 2006 (Bankr. District of Delaware Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co-counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had US$1,993,178,000 in total assets and US$1,730,758,000 in total liabilities. (Dura Automotive Bankruptcy News, Issue No. 7; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). ENHANCE TECHNOLOGY: Appoints Jonathan Avery Gee as Administrator ---------------------------------------------------------------- Jonathan Avery Gee of Kay Johnson Gee was appointed administrator of Enhance Technology Plc (Company Number 04107433) on Dec. 12. The administrator can be reached at: Jonathan Avery Gee Kay Johnson Gee Griffin Court 201 Chapel Street Salford Manchester Greater Manchester M3 5EQ United Kingdom Tel: 0161 832 6221 Fax: 0161 834 8479 Headquartered in Sheffield, England, Enhance Technology Plc distributes hair removal and anti-ageing equipments. ENRON EUROPE POWER: Appoints PwC as Liquidators ----------------------------------------------- Ian Christopher Oakley Smith and David John Blenkarn of PricewaterhouseCoopers LLP were appointed Joint Liquidators of Enron Europe Power 2 Limited on Oct. 19 for the creditors' voluntary winding-up procedure. The company can be reached at: Enron Europe Power 2 Limited 40 Grosvenor Place City of Westminster London SW1X7EN United Kingdom Tel: 020 7783 0000 EUROFORCE SERVICES: Brings In Joint Administrators from SFP ----------------------------------------------------------- Simon Frank lin Plant and Daniel Plant of SFP were appointed joint administrators of Euroforce Services Ltd. (Company Number 03504405) on Dec. 7. The administrators can be reached at: Simon Franklin Plant and Daniel Plant SFP 9 Ensign House Admirals Way Marsh Wall London E14 9XQ United Kingdom Tel: 020 7538 2222 Euroforce Services Ltd. can be reached at: Building 100 Beverly Road Castle Donington Derby Derbyshire DE74 2SA United Kingdom Tel: 01332 811 114 Fax: 01332 850 773 FARAWAY TRADE: Brings In Kroll as Joint Administrators ------------------------------------------------------ Charles Peter Holder and Stuart Charles Edward Mackellar of Kroll were appointed joint administrators of Faraway Trade Ltd. (Company Number 3270138) on Dec. 12. Kroll Limited -- http://www.krollworldwide.com/-- offers risk- consulting services worldwide. The firm is an operating unit of Marsh & McLennan Companies, Inc., the global professional services firm. Kroll's services include corporate advisory and restructuring, fina ncial accounting, valuation and litigation, electronic evidence and data recovery, business intelligence and investigations, background screening, and security services. Faraway Trade Ltd. can be reached at: Enfield Terrace Leeds West Yorkshire LS7 1RG United Kingdom Tel: 0113 244 2770 Fax: 0113 244 2770 FORTIDEC FACILITIES: Appoints Administrators from Harrisons ----------------------------------------------------------- P. R. Boyle and J. C. Sallabank of Harrisons were appointed joint administrators of Fortidec Facilities Management Ltd. (Company Number 00505224) on Dec. 4. Harrisons -- http://www.harrisons.uk.com/-- provides advice and solutions to professional advisors who found their clients experiencing financial difficulties. Originally trading from offices in Reading and has added London, Manchester, Bristol and Derby and has associate offices in Grantham and Stockton on Tees. Fortidec Facilities Management Ltd. can be reached at: Frant Road Thornton Heath Surrey CR7 7JR United Kingdom Tel: 020 8684 6188 Fax: 020 8665 0233 HARDLINES LTD: Brings In Hurst Morrison as Administrators --------------------------------------------------------- Robert C. Keyes and Paul W. Ellison of Hurst Morrison Thomson CR LLP were appointed joint administrators of Hardlines Ltd. on Dec. 14. The administrators can be reached at: Hurst Morrison Thomson CR LLP 5 Fairmile Henley on Thames Oxfordshire RG9 2JR United Kingdom Tel: +44 (0) 1491 579866 Fax: +44 (0) 1491 573397 E-mail: hmt@hmtgroup.co.uk Hardlines Ltd. can be reached at: Blenhein Office Park Long Hanborough Witney Oxfordshire OX29 8LN Tel: 01993 881 010 HMV GROUP: 2006 Online Sales Up 200% Over Last Year --------------------------------------------------- HMV Group plc is updating the market on its trading performance for the 12 weeks to Dec. 16, 2006. The actions that have been taken to improve the performance of HMV U.K. are working effectively. Significant market share gains have been made in music, DVD and games since the national launch of simplified, lower pricing on Sept. 6. Sales in hmv.co.uk have accelerated by more than 200% compared to last year and the Group's share of the online market continues to grow rapidly. However, the music and DVD markets have deteriorated since the Group's AGM trading update on Sept. 28. The value of the U.K. music market, including digital downloading, declined by 14% during October and November and the DVD market also declined in value. Within these very difficult conditions, HMV U.K. and Ireland's like for like sales for the 12 weeks increased by 0.6% and gross margin is expected to be in line with market expectations. In Waterstone's, excellent progress has been made with the integration of Ottakar's and the Group remains firmly on track to achieve the synergy benefits previously stated. Good progress has also been made online by waterstones.com following its launch on Sept. 28. However, continuing promotional activity in the book market has impacted Waterstone's market share. Like for like sales for the 12-week period declined 3.7% and gross margin is expected to be in line with market expectations. In the Group's international businesses, market share also increased in both music and DVD during the 12-week period. However, due to weak entertainment market conditions, like for like sales declined by 3.8% in HMV Asia and by 3.4% in HMV Canada. For the Group as a whole like for like sales are down 1.3% for the period. Outlook The outcome of the peak trading period will be determined over the remaining two weeks, including the final weekend for shopping prior to Christmas. However, current market conditions lead the Group to conclude that its product markets will remain difficult during the balance of the financial year, and it now expects full year profits to be towards the bottom of the range of market expectations. Simon Fox, Chief Executive, commented: "We are seeing very positive and tangible results from the strategic actions implemented during the course of this year, including strong market share gains in entertainment, rapidly growing online businesses and the delivery of synergy benefits from the acquisition of Ottakar's. "We recognize that we face very tough and rapidly changing markets and have to work hard to offset this. However, I am confident that the strength of our leading brands, the rapid growth of our multi-channel offer combined with our effective operating systems gives us a real competitive advantage and a platform on which to build." About HMV Headquartered in Maindenhead, United Kingdom, HMV Group PLC -- http://www.hmvgroup.com/-- operates 580 stores in eight different countries under two powerful retail brands, HMV and Waterstone's. On March 31, 2005, the Group completed a refinancing of its senior bank facilities, creating a more efficient capital structure. A five-year GBP260 million revolving credit facility was arranged, replacing an existing GBP150 million revolving credit facility, together with outstanding term debt of GBP160 million which was repaid in full. Consequent to the refinancing, GBP2.7 million of unamortized deferred financing fees were written-off in the financial year to April 30, 2005, as a non-cash exceptional interest charge. At Apr. 29, 2006, the company's balance sheet showed GBP2.4 million in stockholders' deficit, compared with a GBP14.4 million deficit at April 30, 2005. VENSON GROUP: Taps Grant Thornton as Joint Administrators --------------------------------------------------------- Nicholas Wood and Martin Ellis of Grant Thornton U.K. LLP were appointed joint administrators of Venson Group Plc. (Company Number 02712574), Venson Fleet Management Ltd. (Company Number 02209636) and Venson Public Sector Ltd. (Company Number 03625765) on Dec. 13. Grant Thornton U.K. LLP -- http://www.grant-thornton.co.uk/-- provides value-added professional services as assurance services, compensation and benefits, merger and acquisition transaction services, management advisory services, tax consulting and valuation services. Venson Group Plc., Venson Fleet Management Ltd. and Venson Public Sector Ltd. can be reached at: Venson House Green Esher Surrey KT10 8BJ United Kingdom Tel: 01372 470 111 Fax: 01372 469 748 WESTWAY SERVICES: Names David Kirk as Administrator --------------------------------------------------- David Kirk of Kirk Hills Chartered Accountants was named administrator of Westway Services John Cann Plumbing & Heating Ltd. (Company Number 04225588) on Nov. 14. The administrator can be reached at: David Kirk Kirk Hills Chartered Accountants 5 Barnfield Crescent Exeter Devon EX1 1RF United Kingdom Westway Services John Cann Plumbing & Heating Ltd. can be reached at: 23 Brookfield Street Bideford Devon EX39 4ER United Kingdom Tel: 01237 420 803 * Upcoming Meetings, Conferences and Seminars --------------------------------------------- January 11, 2007 TURNAROUND MANAGEMENT ASSOCIATION Lender's Panel University Club, Jacksonville, FL Contact: http://www.turnaround.org/ January 12, 2007 TURNAROUND MANAGEMENT ASSOCIATION Annual Lender's Panel Breakfast Westin Buckhead, Atlanta, GA Contact: http://www.turnaround.org/ January 17, 2007 TURNAROUND MANAGEMENT ASSOCIATION South Florida Dinner TBA, South FL Contact: 561-882-1331 or http://www.turnaround.org/ January 17-19, 2007 TURNAROUND MANAGEMENT ASSOCIATION Distressed Investing Conference Wynn, Las Vegas, NV Contact: http://www.turnaround.org/ January 19-21, 2007 AMERICAN BANKRUPTCY INSTITUTE 3rd Annual Corporate Restructuring Competition Kellogg School of Management, Chicago, IL Contact: http://www.abiworld.org/ January 23, 2007 TURNAROUND MANAGEMENT ASSOCIATION 2007 Outlook on Healthcare Restructuring Center Club, Baltmore, MD Contact: http://www.turnaround.org/ January 24, 2007 TURNAROUND MANAGEMENT ASSOCIATION Year 2007 Kick-Off Party Oak Hill Country Club, Rochester, NY Contact: 716-440-6615 or http://www.turnaround.org/ January 25-27, 2007 AMERICAN BANKRUPTCY INSTITUTE Rocky Mountain Bankruptcy Conference Hyatt Regency, Denver, CO Contact: 1-703-739-0800 or http://www.abiworld.org/ January 29, 2007 TURNAROUND MANAGEMENT ASSOCIATION Men's College Basketball & Networking Wachovia Center, Philadelphia, PA Contact: 215-657-5551 or http://www.turnaround.org/ January 30-31, 2007 EUROMONEY INSTITUTIONAL INVESTOR Korea Securitisation and Structured Credit Summit JW Marriott Hotel, Seoul, South Korea Contact: http://www.euromoneyplc.com/ January 31 to February 1, 2007 EUROMONEY INSTITUTIONAL INVESTOR Asia M&A Forum Island Shangi-La, Hong Kong Contact: http://www.euromoneyplc.com/ February 2007 AMERICAN BANKRUPTCY INSTITUTE International Insolvency Symposium San Juan, Puerto Rico Contact: 1-703-739-0800 or http://www.abiworld.org/ February 5, 2007 STRATEGIC RESEARCH INSTITUTE 3rd Annual Tranche B & 2nd Lien Financing Summit Scottsdale, AZ Contact: http://www.euromoneyplc.com/ February 8-9, 2007 EUROMONEY CONFERENCES 2nd Philippine Investment Conference Cebu Convention Center, Cebu, Philippines Contact: http://www.euromoneyplc.com/ February 8-9, 2007 EUROMONEY Leverage Finance Asia JW Marriott Hong Kong Contact: http://www.euromoneyplc.com/ February 8-11, 2007 TURNAROUND MANAGEMENT ASSOCIATION Certified Turnaround Professional (CTP) Training NY/NJ Contact: http://www.turnaround.org/ February 15, 2007 TURNAROUND MANAGEMENT ASSOCIATION Men's College Basketball & Networking Wachovia Center, Philadelphia, PA Contact: 215-657-5551 or http://www.turnaround.org/ February 16, 2007 TURNAROUND MANAGEMENT ASSOCIATION Wharton Restructuring Conference The Wharton School Philadelphia, PA Contact: http://www.turnaround.org/ February 21-22, 2007 EUROMONEY Euromoney Pakistan Conference Perceptions & Realities Marriott Hotel, Islamabad, Pakistan Contact: http://www.euromoneyplc.com/ February 22, 2007 TURNAROUND MANAGEMENT ASSOCIATION TMA PowerPlay - Atlanta Thrashers Philips Arena, Atlanta, GA Contact: 678-795-8103 or http://www.turnaround.org/ February 22, 2007 EUROMONEY 2nd Annual Euromoney Japan Forex Forum Mandarin Oriental, Tokyo, Japan Contact: http://www.euromoneyplc.com/ February 25-26, 2007 NORTON INSTITUTES Norton Bankruptcy Litigation Institute Marriott Park City, UT Contact: http://www2.nortoninstitutes.org/ February 27, 2007 TURNAROUND MANAGEMENT ASSOCIATION Devil Rays Turnaround Centre Club, Tampa, FL Contact: http://www.turnaround.org/ February 27-28, 2007 EUROMONEY INSTITUTIONAL INVESTOR 5th Annual Corporate Restructuring Summit Sheraton Park Lane Hotel, London, UK Contact: http://www.euromoneyplc.com/ March 1, 2007 AMERICAN BANKRUPTCY INSTITUTE Nuts and Bolts for Young Practitioners - West Regency Beverly Wilshire, Los Angeles, CA Contact: http://www.abiworld.org/ March 2, 2007 AMERICAN BANKRUPTCY INSTITUTE 15th Annual Bankruptcy Battleground West Regency Beverly Wilshire, Los Angeles, CA Contact: http://www.abiworld.org/ March 15, 2007 TURNAROUND MANAGEMENT ASSOCIATION Martini Madness Cocktail Reception with Geraldine Ferraro Westin Buckhead, Atlanta, GA Contact: 678-795-8103 or http://www.turnaround.org/ March 15-18, 2007 NATIONAL ASSOCIATION OF BANKRUTPCY TRUSTEES NABT Spring Seminar Ritz-Carlton Buckhead, Atlanta, GA Contact: http://www.NABT.com/ March 18-21, 2007 INSOL Annual Europe, Africa & Middle East Conference Cape Town, South Africa Contact: http://www.insol.org/CapeTown07/ March 21, 2007 TURNAROUND MANAGEMENT ASSOCIATION South Florida Dinner TBA, South FL Contact: 561-882-1331 or http://www.turnaround.org/ March 21-22, 2007 EUROMONEY 2nd Annual Vietnam Investment Forum Melia, Hanoi, Vietnam Contact: http://www.euromoneyplc.com/ March 21-22, 2007 EUROMONEY Euromoney Indian Financial Market Congress Grand Hyatt, Mumbai, India Contact: http://www.euromoneyplc.com/ March 22-23, 2007 EUROMONEY INSTITUTIONAL INVESTOR Euromoney Indonesian Financial Markets Congress Bali, Indonesia Contact: http://www.euromoneyplc.com/ March 27, 2007 TURNAROUND MANAGEMENT ASSOCIATION "The Six Keys of Sustained Profitable Growth" Rodney Page, Senior Partner of Blue Springs Partners Citrus Club, Orlando, FL Contact: http://www.turnaround.org/ March 27-31, 2007 TURNAROUND MANAGEMENT ASSOCIATION Spring Conference Four Seasons Las Colinas, Dallas, Texas Contact: http://www.turnaround.org/ March 29-31, 2007 ALI-ABA Chapter 11 Business Reorganizations Scottsdale, Arizona Contact: 1-800-CLE-NEWS; http://www.ali-aba.org/ April 11-15, 2007 AMERICAN BANKRUPTCY INSTITUTE ABI Annual Spring Meeting J.W. Marriott, Washington, DC Contact: 1-703-739-0800; http://www.abiworld.org/ April 12, 2007 TURNAROUND MANAGEMENT ASSOCIATION Luncheon University Club, Jacksonville, FL Contact: 561-882-1331 or http://www.turnaround.org/ April 12, 2007 AMERICAN BANKRUPTCY INSTITUTE Nuts and Bolts for Young Practitioners - East JW Marriott, Washington, DC Contact: http://www.abiworld.org/ April 20, 2007 TURNAROUND MANAGEMENT ASSOCIATION Breakfast meeting with Chapter President, Bruce Sim Westin Buckhead, Atlanta, GA Contact: 678-795-8103 or http://www.turnaround.org/ April 24, 2007 TURNAROUND MANAGEMENT ASSOCIATION "Why Prospects Become Clients" Mark Fitzgerald, President of Sales Training Institute Inc Centre Club, Tampa, FL Contact: http://www.turnaround.org/ April 26-27, 2007 TURNAROUND MANAGEMENT ASSOCIATION 1st Annual Credit & Bankruptcy Symposium Mohegan Sun, Uncasville, CT Contact: http://www.turnaround.org/ April 26-28, 2007 ALI-ABA Fundamentals of Bankruptcy Law Philadelphia, PA Contact: http://www.ali-aba.org/ April 29 - May 1, 2007 INTERNATIONAL BAR ASSOCIATION International Insolvency Conference Zurich, Switzerland Contact: http://www.ibanet.org/ May 4, 2007 AMERICAN BANKRUPTCY INSTITUTE Nuts and Bolts for Young Practitioners - NYC Alexander Hamilton US Custom House, SDNY New York, NY Contact: http://www.abiworld.org/ May 7, 2007 AMERICAN BANKRUPTCY INSTITUTE 9th Annual New York City Bankruptcy Conference Millennium Broadway Hotel & Conference Center New York, NY Contact: http://www.abiworld.org/ May 14, 2007 TURNAROUND MANAGEMENT ASSOCIATION Annual TMA Atlanta Golf Outing White Columns, Atlanta, GA Contact: 678-795-8103 or http://www.turnaround.org/ May 16, 2007 TURNAROUND MANAGEMENT ASSOCIATION South Florida Dinner TBA, South FL Contact: 561-882-1331 or http://www.turnaround.org/ June 6-8, 2007 TURNAROUND MANAGEMENT ASSOCIATION 5th Annual Mid-Atlantic Regional Symposium Borgata Hotel Casino & Spa, Atlantic City, NJ Contact: http://www.turnaround.org/ June 6-9, 2007 ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS 23rd Annual Bankruptcy & Restructuring Conference Westin River North, Chicago, Illinois Contact: http://www.airacira.org/ June 14-17, 2007 AMERICAN BANKRUPTCY INSTITUTE Central States Bankruptcy Workshop Grand Traverse Resort, Traverse City, Michigan Contact: 1-703-739-0800; http://www.abiworld.org/ June 28 - July 1, 2007 NORTON INSTITUTES Norton Bankruptcy Litigation Institute Jackson Lake Lodge, Jackson Hole, WY Contact: http://www2.nortoninstitutes.org/ July 12, 2007 TURNAROUND MANAGEMENT ASSOCIATION Luncheon University Club, Jacksonville, FL Contact: 561-882-1331 or http://www.turnaround.org/ July 12-15, 2007 AMERICAN BANKRUPTCY INSTITUTE Northeast Bankruptcy Conference Marriott, Newport, RI Contact: 1-703-739-0800; http://www.abiworld.org/ July 18, 2007 TURNAROUND MANAGEMENT ASSOCIATION South Florida Dinner TBA, South FL Contact: 561-882-1331 or http://www.turnaround.org/ July 25-28, 2007 AMERICAN BANKRUPTCY INSTITUTE 12th Annual Southeast Bankruptcy Workshop The Sanctuary, Kiawah Island, SC Contact: http://www.abiworld.org/ August 9-11, 2007 AMERICAN BANKRUPTCY INSTITUTE 3rd Annual Mid-Atlantic Bankruptcy Workshop Hyatt Regency Chesapeake Bay Cambridge, MD Contact: http://www.abiworld.org/ September 6-8, 2007 AMERICAN BANKRUPTCY INSTITUTE 15th Annual Southwest Bankruptcy Conference Four Seasons Las Vegas, NV Contact: http://www.abiworld.org/ September 19, 2007 TURNAROUND MANAGEMENT ASSOCIATION South Florida Dinner TBA, South FL Contact: 561-882-1331 or http://www.turnaround.org/ October 10-13, 2007 NATIONAL CONFERENCE OF BANKRUPTCY JUDGES National Conference of Bankruptcy Judges Orlando, Florida Contact: http://www.ncbj.org/ October 11, 2007 TURNAROUND MANAGEMENT ASSOCIATION Luncheon University Club, Jacksonville, FL Contact: 561-882-1331 or http://www.turnaround.org/ October 16-19, 2007 TURNAROUND MANAGEMENT ASSOCIATION TMA Annual Convention Marriott Copley Place, Boston, Massachusetts Contact: 312-578-6900; http://www.turnaround.org/ October 30, 2007 TURNAROUND MANAGEMENT ASSOCIATION Luncheon Centre Club, Tampa, FL Contact: 561-882-1331 or http://www.turnaround.org/ December 6-8, 2007 AMERICAN BANKRUPTCY INSTITUTE Winter Leadership Conference Westin Mission Hills Resort, Rancho Mirage, California Contact: 1-703-739-0800; http://www.abiworld.org/ December 19, 2007 TURNAROUND MANAGEMENT ASSOCIATION South Florida Dinner TBA, South FL Contact: 561-882-1331 or http://www.turnaround.org/ TBA 2008 INSOL Annual Pan Pacific Rim Conference Shanghai, China Contact: http://www.insol.org/ January 10, 2008 TURNAROUND MANAGEMENT ASSOCIATION Luncheon University Club, Jacksonville, FL March 25-29, 2008 TURNAROUND MANAGEMENT ASSOCIATION TMA Spring Conference Ritz Carlton Grande Lakes, Orlando, Florida Contact: http://www.turnaround.org/ April 3-6, 2008 AMERICAN BANKRUPTCY INSTITUTE 26th Annual Spring Meeting The Renaissance, Washington, DC Contact: http://www.abiworld.org/ June 4-7, 2008 ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS 24th Annual Bankruptcy & Restructuring Conference JW Marriott Spa and Resort, Las Vegas, NV Contact: http://www.airacira.org/ June 12-14, 2008 AMERICAN BANKRUPTCY INSTITUTE 15th Annual Central States Bankruptcy Workshop Grand Traverse Resort and Spa, Traverse City, MI Contact: http://www.abiworld.org/ August 16-19, 2008 AMERICAN BANKRUPTCY INSTITUTE 13th Annual Southeast Bankruptcy Workshop Ritz-Carlton, Amelia Island, FL Contact: http://www.abiworld.org/ September 24-27, 2008 NATIONAL CONFERENCE OF BANKRUPTCY JUDGES National Conference of Bankruptcy Judges Scottsdale, Arizona Contact: http://www.ncbj.org/ October 28-31, 2008 TURNAROUND MANAGEMENT ASSOCIATION TMA Annual Convention Marriott Copley Place, Boston, Massachusetts Contact: 312-578-6900; http://www.turnaround.org/ December 4-6, 2008 AMERICAN BANKRUPTCY INSTITUTE 20th Annual Winter Leadership Conference Westin La Paloma Resort & Spa Tucson, AZ Contact: http://www.abiworld.org/ June 21-24, 2009 INSOL 8th International World Congress TBA Contact: http://www.insol.org/ October 5-9, 2009 TURNAROUND MANAGEMENT ASSOCIATION TMA Annual Convention Marriott Desert Ridge, Phoenix, Arizona Contact: 312-578-6900; http://www.turnaround.org/ 2009 (TBA) NATIONAL CONFERENCE OF BANKRUPTCY JUDGES National Conference of Bankruptcy Judges Las Vegas, Nevada Contact: http://www.ncbj.org/ October 4-8, 2010 TURNAROUND MANAGEMENT ASSOCIATION TMA Annual Convention JW Marriott Grande Lakes, Orlando, Florida Contact: http://www.turnaround.org/ 2010 (TBA) NATIONAL CONFERENCE OF BANKRUPTCY JUDGES National Conference of Bankruptcy Judges New Orleans, Louisiana Contact: http://www.ncbj.org/ BEARD AUDIO CONFERENCES Coming Changes in Small Business Bankruptcy Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES Distressed Real Estate under BAPCPA Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES Changes to Cross-Border Insolvencies Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES Healthcare Bankruptcy Reforms Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES Calpine's Chapter 11 Filing Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES Changing Roles & Responsibilities of Creditors' Committees Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES Validating Distressed Security Portfolios: Year-End Price Validation and Risk Assessment Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES Employee Benefits and Executive Compensation under the New Code Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES Dana's Chapter 11 Filing Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES Reverse Mergers - the New IPO? Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES Fundamentals of Corporate Bankruptcy and Restructuring Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES High-Yield Opportunities in Distressed Investing Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES Privacy Rights, Protections & Pitfalls in Bankruptcy Audio Conference Recording Contact: 240-629-3300; http://www.beardaudioconferences.com/ BEARD AUDIO CONFERENCES When Tenants File -- A Landlord's BAPCPA Survival Guide Contact: http://www.beardaudioconferences.com/ 240-629-3300 BEARD AUDIO CONFERENCES Clash of the Titans -- Bankruptcy vs. IP Rights Contact: http://www.beardaudioconferences.com/ 240-629-3300 The Meetings, Conferences and Seminars column appears in the Troubled Company Reporter each Wednesday. Submissions via e-mail to conferences@bankrupt.com are encouraged. ********* Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than US$3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. A list of Meetings, Conferences and Seminars appears in each Thursday's edition of the TCR. Submissions about insolvency- related conferences are encouraged. Send announcements to conferences@bankrupt.com/ Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter -- Europe is a daily newsletter co- published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland USA. Jazel Laureno, Julybien Atadero, Carmel Zamesa Paderog, Joy Agravante, and Zora Jayda Zerrudo Sala, Editors. Copyright 2006. All rights reserved. ISSN 1529-2754. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR Europe subscription rate is US$575 per half-year, delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are US$25 each. For subscription information, contact Christopher Beard at 240/629-3300. * * * End of Transmission * * *