TCREUR_Public/070213.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

            Tuesday, February 13, 2007, Vol. 8, No. 31

                            Headlines


A U S T R I A

JESUITENMUEHLE GASTRONOMIE: Claims Registration Ends March 7
LEAR CORP: Buyout Deal Cues S&P to Lower Credit Ratings to B
PEGASUS LLC: Claims Registration Period Ends March 15
RENNER LLC: Claims Registration Period Ends March 15
SLESAROV RESTAURATIONS: Claims Registration Period Ends March 15


B E L G I U M

ARVINMERITOR INC: DBRS Rates US$175-Mln Senior Notes at BB (low)
LEAR CORP: Inks US$5.3 Billion Merger Deal with Icahn Affiliate


D E N M A R K

TIMKEN CO: Declares US$0.16 Per Share Quarterly Dividend


F R A N C E

ALCATEL-LUCENT: Posts EUR618-Million Net Loss for 4th Qtr 2006
ALCATEL-LUCENT: Aims 12,500 Job Cuts Due to Q4 2006 Losses
ALSTOM SA: Gets EUR270 Million Order From French Railway Company
ALSTOM SA: Targets France & Italy for New Locomotive Contracts


G E R M A N Y

AGA PRAZISIONSTEILE: Claims Registration Period Ends March 16
ARDY MENUE: Claims Registration Period Ends March 7
ARTEMIS GMBH: Claims Registration Period Ends March 8
ASPHALTBAU DZIURA: Claims Registration Ends March 16
AUFBEREITUNGSMASCHINEN GMBH: Creditors' Meeting Set for March 20

AUTO RITZ: Creditors' Meeting Slated for February 21
AUTOHAUS ERHARD: Claims Registration End March 21
AUTOHAUS MAIER: Claims Registration Period Ends March 5
AUTOHAUS WEISS: Claims Registration Period Ends March 9
AWO WOHNBAU: Claims Registration Period Ends March 15

AZ ALOIS: Claims Registration Period Ends March 10
B.E.S.T. GMBH: Claims Registration Period Ends February 23
BARTOTEC GMBH: Claims Registration Period Ends March 1
BARTOTEC VERWALTUNGS: Claims Registration Ends March 6
BAU-HERKOMMER: Claims Registration Period Ends March 20

BENQ CORP: Euro 2008 Sponsorship Irks German Workers Union
BERTHOLD WOLF: Claims Registration Ends March 10
BILDERWELT FOTO: Claims Registration Ends March 12
BM GIGATEC: Claims Registration Ends March 27
BOHNITA CAFE: Claims Registration Ends March 30

BS4D-SOFTWARE: Claims Registration Ends March 14
BUCKEYE TECHNOLOGIES: Earns US$3.8 Mln in Quarter Ended Dec. 31
CDIRECT MAILING: Creditors Must Register Claims by March 9
CNS MAGDEBURG: Claims Registration Ends March 1
COMARKET GESELLSCHAFT: Claims Registration Ends March 15

CWF COLD: Claims Registration Ends March 20
FIBA-SERVICE: Claims Registration Period Ends March 9
FIRMA BAYERN: Claims Registration Period Ends Feb. 28
FRE FOERDERTECHNIK: Claims Registration Period Ends March 6
GROM GMBH: Claims Registration Ends March 5

H & S STAHLBAU: Claims Registration Ends March 9
HANSE MENUE-DIENST: Claims Registration Ends March 7
HERMANN FLEIG: Claims Registration Ends March 5
HOBOVEB GMBH: Claims Registration Ends March 1
KELLNER + MOESSNER: Claims Registration Ends February 20

LEMONSTYLE WERBE: Claims Registration Ends March 2
LUITPOLD KLINIKEN: Claims Registration Ends March 5
MAGDEBURG GMBH: Creditors Must Register Claims by March 7
MEDIZINISCHES VERSORGUNGSZENTRUM: Creditors' Claims Due March 1
METZGEREI GREUBEL: Creditors Must Register Claims by February 23

MICHAEL JELITTO: Creditors Must Register Claims by March 2
M-PHASYS GMBH: Creditors Must Register Claims by March 2
MSG HOSPITALITY: Creditors Must Register Claims by March 1
MSP GMBH: Creditors Must Register Claims by March 5
NK KILICER: Claims Registration Ends March 6

NORDLAND AUTOVERTRIEB: Claims Registration Ends March 9
NORDWACHT SICHERHEITSSCHULE: Claims Registration Ends Feb. 21
NUR LOGISTIK: Claims Registration Ends March 5
OPTIPLAN KUNSTSTOFFE: Claims Registration Ends February 28
PFLEGEHEIME BUEHLER-SIEBER: Claims Registration Ends March 15

PROFI TEAM: Claims Registration Ends March 2
ROLLITOP GMBH: Claims Registration Ends March 8
SCHADLICH RUNDSTRICKEREI: Claims Registration Ends Feb. 26
SCHLUSSELHAUS WEDEL: Claims Registration Period Ends March 19
SCHULTE HOLDING: Claims Registration Period Ends March 15

SECTEC: Claims Registration Period Ends March 8
SK INDUSTRIE: Claims Registration Period Ends March 14
STEINHAUS GASTRONOMIE: Claims Registration Period Ends March 2
STORMARN PLASTIC: Claims Registration Period Ends March 13
TTE GERMANY: Claims Registration Ends March 3

TUI AG: Moody's Downgrades Ba3 Corporate Family Rating to B1
WEKA BAU: Claims Registration Ends March 9
WERBE + LOGISTIK: Claims Registration Ends March 9
ZWEIRAD ROETH: Claims Registration Period Ends March 1


I T A L Y

PARMALAT SPA: Sells Parma AC to Tommaso Ghirardi for EUR30 Mln


K A Z A K H S T A N

BATYR LLP: Creditors Must File Claims by March 23
DARHAN-RISE LLP: Creditors' Claims Due March 23
DDP-TRANS LLP: Proof of Claim Deadline Slated for March 23
KAZKOMMERTSBANK: Dual Bond Issue Sets New Borrowing Standards
KAZKOMMERTSBANK: To Buy 52.11% Stake in CB Moskommertsbank

KLEVE LLP: Claims Registration Ends March 16
MAK NAR: Claims Filing Period Ends March 23
SAPA LLP: Creditors Must File Claims by March 23
STROY-TECHNO LLP: Creditors' Claims Due March 23
TECHNOSTROYSERVICE LLP: Creditors Must File Claims by March 23

TUMEN-RESOURCE LLP: Claims Registration Ends March 23
VITCOMINFORM LLP: Claims Filing Period Ends March 23


K Y R G Y Z S T A N

TEMIRLAN OJSC: Claims Filing Period Ends March 20


L U X E M B O U R G

DANA CORP: U.S. Trustee Disbands Equity Committee


R O M A N I A

RULMENTUL BRASOV: Government Reschedules Insolvency Proceedings


R U S S I A

ASKO CJSC: Creditors Must File Claims by February 20
BALTIC-CENTRE LLC: Creditors Must File Claims by February 20
BRIKOM CJSC: Creditors Must File Claims by February 20
CONTINENT LLC: Omsk Bankruptcy Hearing Slated for May 15
FLAX OJSC: Creditors Must File Claims by February 20

FUNDSERVICEBANK: Moody's Assigns E+ Financial Strength Rating
KHIMIBOR CJSC: Creditors Must File Claims by February 20
KURSK-GAS-STORY CJSC: Creditors Must File Claims by February 20
MDM BANK: Gets EUR30-Mln Loan From NIB to Finance Projects
MED-VITA LLC: Court Names Sh. Fazailov as Insolvency Manager

MOBILE TELESYSTEMS: Forecasts 17% Revenue Hike in 2007
NAMED AFTER: Court Names M. Sorokin as Insolvency Manager
NOVOLIPETSK STEEL: Upgrades Coke-Chemical Production Facility
SLADKOVSKOYE CJSC: Asset Sale Slated for February 27
SMOLENSK-SEEDS OJSC: Creditors Must File Claims by February 20

SOUTHERN TELECOM: Redeems Series 02 Bond Issue
SUAL GROUP: European Commission Okays SUAL-RUSAL-Glencore Merger
THERMAL COMPANY: Creditors Must File Claims by March 20
TMK OAO: Acquires 100% Stake in Orsk Engineering Plant
TMK OAO: Inks Strategic Partnership Agreement with SMS Group

TMK OAO: Shareholders to Vote on Option Program March 2
TULA-FARM OJSC: Creditors Must File Claims by March 20
YUKOS OIL: U.S.-Based Chevron Eyes Bankrupt Assets
ZOLOTUKHINSKAYA SEL-KHOZ-KHIMIYA: Claims Deadline Set March 20
ZARAYSKOYE CJSC: Creditors Must File Claims by February 20


S P A I N

IKON OFFICE: Earns US$27.3 Million in Quarter Ended December 31


S W I T Z E R L A N D

A+S ADRESSMANAGEMENT: Creditors' Liquidation Claims Due Feb. 28
ALTERNATIVE PARKING: Creditors' Liquidation Claims Due Feb. 29
B & H TRADE: Creditors' Liquidation Claims Due February 28
BELLA VITA: Creditors' Liquidation Claims Due March 9
DEBO HANDELS: Creditors' Liquidation Claims Due February 26

HUSLER WOHNEN: Creditors' Liquidation Claims Due February 28
M. SCHAFFNER: Creditors' Liquidation Claims Due February 28
MANPORT JSC: Creditors' Liquidation Claims Due February 28
RESTAURANT ROSENGARTEN: Aargau Court Starts Bankruptcy Process
THESAURUS CONTINENTALE: Creditors' Claims Due March 30


U K R A I N E

GENERAL NUTRITION: S&P Keeps B Credit Rating on Watch Negative
GNIEVAN ATP: Claims Submission Deadline Set February 23
PREMIER SV-UKRAINE: Claims Submission Deadline Set February 21
RIN LLC: Claims Submission Deadline Set February 21
SELYSCHE GRANITE: Claims Submission Deadline Set February 25

V5 LLC: Claims Submission Deadline Set February 21
ZAPOROZHJE PETROLIUM: Claims Submission Deadline Set February 25


U N I T E D   K I N G D O M

ADVANCED MARKETING: Court Augments Prepetition Shipping Duty Cap
AIR POLLUTION: Creditors' Meeting Slated for February 19
ALNWICK CYCLES: Creditors' Meeting Slated for February 20
AMDEL SERVICES: Appoints Administrators from SPW Poppleton
BSPC COMMERCIAL: Taps Joint Administrator from Gerald Edelman

BUGLER PARAGON: Appoints Baker Tilly as Joint Administrators
BURNHILL DISTRIBUTORS: Taps William Antony Batty Administrator
CAPITAL GAMING: Brings In David Hill to Administer Assets
CASTLE HEALTH: Appoints Harrisons as Joint Administrators
CCS DEVELOPMENTS: Creditors' Meeting Slated for February 19

CLINICAL DIAGNOSTIC: Taps Administrators from Fanshawe Lofts
CLUB CONNEXION: Creditors' Meeting Slated for February 26
CODE 10: Brings In Administrators from Wilkins Kennedy
COMPASS GROUP: Buys 1 Million Ordinary Shares for Cancellation
COVENTRY EXPRESS: Brings In Joint Administrators from KPMG

DECORATIVE GLASS: Creditors' Meeting Slated for February 21
DISC EMPORIUM: Creditors' Meeting Slated for February 20
DOMESTIC HOMEWORKS: Creditors' Meeting Slated for February 20
EMI GROUP: Names Sly Bailey as Senior Independent Director
ESTERLINE TECHNOLOGIES: S&P Affirms BB Rating on Market Exposure

EUROSAIL-UK: Moody's Rates Class E1c Mortgage Notes at (P)Ba1
EXECUTIVE LEISURE: Creditors' Meeting Slated for March 14
FJORD LINE: Creditors' Meeting Slated for February 22
HOTELOC PLC: S&P Lowered Class E Note Ratings to CC
ITEC TECHNOLOGIES: Creditors' Meeting Slated for February 22

M THIRTEEN: Creditors' Meeting Slated for February 21
MISYS PLC: Transfers 31,425 Ordinary Shares Held in Treasury
MODUSPACE LTD: Creditors' Meeting Slated for February 22
PREMIER FOODS: Disposing Erin Brand to Address Antitrust Issues
S & J PARKINGTON: Creditors' Meeting Slated for February 21

SIMPSON BROTHERS: Creditors' Meeting Slated for February 21
SOFT SECRETS: Creditors' Meeting Slated for February 23
TAYLOR MADE: Yorkshire Bank Taps Deloitte & Touche as Receivers
TUDOR ROSE: Creditors' Meeting Slated for February 19
WALBRIDGE LTD: Creditors' Meeting Slated for February 20

* Tenon Appoints Five New Directors & Six Associate Directors

* Large Companies with Insolvent Balance Sheets

                            *********

=============
A U S T R I A
=============


JESUITENMUEHLE GASTRONOMIE: Claims Registration Ends March 7
------------------------------------------------------------
Creditors owed money by LLC Jesuitenmuehle Gastronomie (FN
206353k) have until March 7 to file written proofs of claim to
estate administrator Ulla Reisch at:

         Dr. Ulla Reisch
         Praterstrasse 62-64
         1020 Vienna
         Austria
         Tel: 01/212 55 00
         Fax: 01/212 55 00 5
         E-mail: office.wien@ulsr.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on March 21 for examination
of claims.

The meeting of creditors will be held at:

         The Land Court of Korneuburg
         Room 204
         Second Floor
         Korneuburg, Austria

Headquartered in Schwechat, Austria, the Debtor declared
bankruptcy on Jan. 23  (Bankr. Case No. 36 S 10/07y).


LEAR CORP: Buyout Deal Cues S&P to Lower Credit Ratings to B
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Southfield, Mich.-based Lear Corp. to 'B' from 'B+'
and placed its ratings on CreditWatch with negative implications
following Lear's announcement that it had agreed to be acquired
by Carl Icahn-controlled American Real Estate Partners, L.P.

AREP has offered to purchase Lear for US$36 per share in cash,
or more than US$2 billion.  AREP currently owns about 20% of
Lear.

"The downgrade reflects our expectation that the transaction
will result in an increase in debt at Lear," said Standard &
Poor's credit analyst Robert Schulz.

The CreditWatch resolution will focus on the post-transaction
capital structure and any shifts in the company's business
strategies, whether from the Icahn transaction or as a result of
any other bids that may arise.  The 'B+' rating on Lear's senior
secured bank debt is affirmed and is not on CreditWatch, since
S&P expects that change in control language in the bank
agreement means that the bank facility will be replaced at
closing.  While some of the senior unsecured debt issues also
contain change in control language, the offer by AREP does not
trigger change in control provisions in those bonds.

Lear, an automotive supplier, has total debt of about US$3.7
billion, including the present value of operating leases and
underfunded employee benefit liabilities.

Although Lear has strong market positions, good growth prospects
outside of North America, and fair financial flexibility, its
operating performance has been challenged by severe industry
pressures that caused credit protection measures to weaken in
recent years.  Lear reported improved results during 2006,
following very poor performance during 2005 when full-year
EBITDA fell by 35%.  Core operating earnings, as defined by Lear
to exclude restructuring costs and special charges, increased by
22% in 2006, but still remain relatively low.  Cash from
operating activities, before the net change in accounts
receivable sold but after capital spending, was US$116 million
in 2006, compared to a negative US$419 million in 2005.  Lear
has agreed to sell its U.S. interior components operations to a
joint venture controlled by Wilbur Ross, following a similar
transaction for its European business.


PEGASUS LLC: Claims Registration Period Ends March 15
-----------------------------------------------------
Creditors owed money by LLC Pegasus have until March 15 to file
written proofs of claim to estate administrator Ulla Reisch at:

         Dr. Ulla Reisch
         Praterstrasse 62-64
         1020 Vienna
         Austria
         Tel: 212 55 00
         Fax: 212 55 00 5
         E-mail: office.wien@ulsr.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on March 29 for examination
of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1701
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 23 (Bankr. Case No. 6 S 4/07s).


RENNER LLC: Claims Registration Period Ends March 15
----------------------------------------------------
Creditors owed money by LLC Renner (FN 175303z) have until
March 15 to file written proofs of claim to estate administrator
Dagmar Hoppstadter at:

         Mag. Dagmar Hoppstadter
         Pichler Strasse 1
         4623 Gunskirchen
         Austria
         Tel: 07246/8673-0
         Fax: 07246/8673-14
         E-mail: office@kaiblinger.rakanzlei.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:20 a.m. on March 29 for examination
of claims.

The meeting of creditors will be held at:

         The Land Court of Wels
         Hall 101
         First Floor
         Maria Theresia Str.12
         Wels, Austria

Headquartered in Wallern an der Trattnach, Austria, the Debtor
declared bankruptcy on Jan. 23 (Bankr. Case No. 20 S 14/07w).


SLESAROV RESTAURATIONS: Claims Registration Period Ends March 15
----------------------------------------------------------------
Creditors owed money by LLC Slesarov Restaurations- und
Caterings (FN 268528w) have until March 15 to file written
proofs of claim to estate administrator Daniel Lampersberger at:

         Mag. Daniel Lampersberger
         c/o Mag. Clemens Richter
         Esteplatz 4
         1030 Vienna
         Austria
         Tel: 712 33 30-0
         Fax: 712 33 30-30
         E-mail: engelhart@csg.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on March 29 for examination
of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1701
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 23 (Bankr. Case No. 6 S 5/07p).  Clemens Richter
represents Mag. Lampersberger in the bankruptcy proceedings.


=============
B E L G I U M
=============


ARVINMERITOR INC: DBRS Rates US$175-Mln Senior Notes at BB (low)
----------------------------------------------------------------
Dominion Bond Rating Service assigned a rating of BB (low) to
the US$175 million Convertible Senior Unsecured Notes of
ArvinMeritor Inc.  The trend is Stable.

The company is expected to use proceeds from the issuance to
repay outstanding indebtedness under its Term Loan B, with no
impact on net leverage.  In conjunction with the new issue, DBRS
is confirming the ratings of the company's existing Convertible
Senior Unsecured Notes and Senior Unsecured Notes at BB (low),
with Stable trends, respectively.

The company's financial and business risk profile has modestly
increased over the past year, but remains within the range of
acceptability for the current rating.  The company continues to
face challenging light vehicle market conditions, notably from
declining OEM production in North America, pricing pressure, and
higher-than-expected raw material costs.  These factors have
largely contributed to weak margins in its light vehicle systems
segment, and are not expected to ease over the near-term.  In
addition, the company's commercial vehicle systems segment
margins have also weakened despite strong industry demand,
largely related to increased costs.

The company's exposure to the significant expected decline in
commercial vehicle demand in 2007 has increased following the
sale of its Emissions Technology business for US$310 million.
The CVS segment will account for roughly 67% of total sales upon
closing of the transaction, which is expected in fiscal third
quarter 2007.

DBRS views the sale of its ET business as generally neutral to
the credit profile of ARM; the increase in liquidity and removal
of a lower-margin business is largely offset by the loss of ET
earnings and cash flow, and the Company's heightened earnings
sensitivity to the looming industry slowdown.

Over the near-term, sharper-than-expected declines in commercial
vehicle volumes, particularly in the event of slowing economic
conditions, further production cuts by light vehicle OEMs, and
rising raw material costs are key risks to ARM's profitability.

The company is highly dependent on efficiency gains, largely
related to its restructuring initiatives, to moderate the impact
of the above noted challenges on earnings.  In absence of
sufficient cost savings, the lower-than-expected earnings and
cash flow will weaken leverage and coverage ratios and likely
have negative implications for the rating.

The confirmation of the company's rating reflects the company's
well diversified customer mix, including modest relative
exposure to the North American Big 3, the expectation for near-
term free cash flow generation, good liquidity position, and
favorable debt repayment schedule.


LEAR CORP: Inks US$5.3 Billion Merger Deal with Icahn Affiliate
---------------------------------------------------------------
Lear Corporation and American Real Estate Partners, L.P., an
affiliate of Carl C. Icahn, have entered into an agreement for
Lear to be acquired by AREP, in a transaction valued at
approximately US$5.3 billion, including the assumption of debt.
Under the terms of the agreement, Lear shareholders would
receive US$36.00 per share in cash.  Closing is expected to
occur by the end of the second quarter of 2007.

Under the terms of the agreement, Lear may solicit alternative
proposals from third parties for a period of 45 days from the
execution of the agreement and intends to consider any such
proposals with the assistance of its independent advisors.  In
addition, Lear may, at any time, subject to the terms of the
merger agreement, respond to unsolicited proposals.  If Lear
accepts a superior proposal, a break-up fee would be payable to
AREP.

"Following a very thorough review of the proposed transaction,
our Board unanimously concluded that the AREP offer was in the
best interests of Lear's shareholders," Bob Rossiter, Lear's
chairman and chief executive officer, commented.  "We believe
that the transaction price, which represents a multiple of about
9x our forecasted 2007 core operating earnings -- excluding the
Interior business, provides shareholders with significant value.
Furthermore, we intend to solicit other offers to ensure that
value is maximized for all of our shareholders."

"Lear is an excellent company with a strong management team in
place," said Carl Icahn.  "We look forward to working with
Lear's team to improve its long-term competitiveness, capitalize
on growth opportunities globally and to build an even stronger
and more valuable company in the future."

In connection with the transaction, J.P. Morgan Securities Inc.
served as a financial advisor and Winston & Strawn, LLP served
as legal counsel to a Special Committee of Lear's Board of
Directors. Bank of America provided American Real Estate
Partners, L.P. with debt financing commitments for this
transaction.

The agreement is subject to the affirmative vote of the holders
of a majority of the outstanding shares of Lear common stock,
regulatory filings and approvals and other customary closing
conditions.  Upon the closing of the transaction, shares of Lear
common stock will no longer be listed on the New York Stock
Exchange or publicly-traded.

                   About American Real Estate

Headquartered in New York City, American Real Estate Partners,
LP (NYSE:ACP) -- http://www.arep.com/-- a master limited
partnership, is a diversified holding company engaged in a
variety of businesses.  The company's businesses currently
include gaming, oil and gas exploration and production, real
estate and home fashion.  The company is in the process of
divesting its Oil and Gas operating unit and their Atlantic City
gaming property.

The company owns a 99% limited partnership interest in American
Real Estate Holdings Limited Partnership.  Substantially all of
the assets and liabilities are owned by AREH and substantially
all of the company's operations are conducted through AREH and
its subsidiaries.  American Property Investors, Inc., or API,
owns a 1% general partnership interest in both the company and
AREH, representing an aggregate 1.99% general partnership
interest in the company and AREH.  API is owned and controlled
by Mr. Carl C. Icahn.

                        About Lear Corp.

Headquartered in Southfield, Michigan, Lear Corporation (NYSE:
LEA) -- http://www.lear.com/-- supplies automotive interior
systems and components.  Lear provides complete seat systems,
electronic products, electrical distribution systems, and other
interior products.

Lear also operates in Argentina, Austria, Belgium, Brazil,
Canada, China, Czech Republic, United Kingdom, France, Germany,
Honduras, Hungary, India, Italy, Japan, Mexico, Morocco,
The Netherlands, Philippines, Poland, Portugal, Romania, Russia,
Singapore, Slovakia, South Africa, South Korea, Spain, Sweden,
Thailand, Tunisia, Turkey and Venezuela.

                          *     *     *

As reported in the Troubled Company Reporter-Europe on Feb. 8,
Moody's Investors Service placed the long term ratings of Lear
Corporation, corporate family rating at B2, under review for
possible downgrade.  The company's speculative grade liquidity
rating of SGL-2 was affirmed.

As of Feb. 7, Lear Corp. also carries these ratings from
Standard & Poor's:

   -- Corporate Credit: B+

   -- US$300 million senior notes due 2013, and
      US$400 million senior notes due 2016: B-

   -- Outlook: negative


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D E N M A R K
=============


TIMKEN CO: Declares US$0.16 Per Share Quarterly Dividend
--------------------------------------------------------
The Timken Co.'s board of directors declared a quarterly cash
dividend of 16 cents per share.  The dividend is payable on
March 2, 2007, to shareholders of record as of Feb. 16, 2007.
It will be the 339th consecutive dividend paid on the common
stock of the company.

Headquartered in Canton, Ohio, The Timken Company (NYSE: TKR)
-- http://www.timken.com/-- manufactures highly engineered
bearings and alloy steels.  It also provides related components
and services such as bearing refurbishment for the aerospace,
medical, industrial, and railroad industries.  The Company has
operations in 27 countries and employs 27,000 employees.  In
Europe, the company maintains operations in Austria, Croatia,
Denmark, Germany and the United Kingdom, among others.

                         *     *     *

As reported in the Troubled Company Reporter on Oct. 30, 2006,
Moody's Investors Service confirmed The Timken Company's Ba1
Corporate Family Rating and the Ba1 rating on the company's
US$300 Million Unsecured Medium Term Notes Series A due 2028 in
connection with the rating agency's implementation of its new
Probability-of-Default and Loss-Given-Default rating
methodology.


===========
F R A N C E
===========


ALCATEL-LUCENT: Posts EUR618-Million Net Loss for 4th Qtr 2006
--------------------------------------------------------------
The Board of Directors of Alcatel-Lucent reviewed and approved
reported results for the fourth quarter and full year 2006.

Alcatel-Lucent registered EUR522 million in net profit on
EUR18.25 billion in net revenues for the full year 2006,
compared with EUR1.67 billion in net profit on EUR18.57 billion
in net revenues for the full year 2005.

Alcatel-Lucent reported EUR618 million in net losses against
EUR4.42 billion in net revenues for the fourth quarter 2006,
compared with EUR381 million in net profit on EUR5.25 billion in
net revenues for the same period in 2005.

The fourth quarter 2006 reported results include Alcatel stand-
alone operations for October and November 2006, and the combined
operations of Alcatel-Lucent for December 2006.  Businesses to
be contributed to Thales are presented as discontinued
activities.  There were neither capital gains nor cash proceeds
from the Thales transaction recognized during the quarter.
Results from Nortel's UMTS radio access business are not
included as the transaction was completed on Dec. 31, 2006.

"This is the first quarter that Alcatel-Lucent is reporting
results as a combined company," Patricia Russo, Chief Executive
of Alcatel-Lucent, said.  "While the results for the fourth
quarter are clearly disappointing, the positive long-term
benefits of the merger and the growth potential of Alcatel-
Lucent remain as envisioned.  Since we began operating as a
combined company on Dec. 1, 2006, we have made progress against
our integration plans, and we expect to increasingly recognize
the benefits of our integration over the course of the year."

"Our newly combined company is focused on supporting the overall
transformation occurring in our industry. This includes the
transformation of networks to all-IP, video and multimedia
content to enhance communication services, broadband mobility as
well as high value services," Ms. Russo added.

                          2007 Outlook

The results for the fourth quarter were impacted by a
combination of short-term uncertainty for the customers and the
company's people, as well as challenging market conditions,
particularly in North America.

"While we believe these factors will be mitigated, we expect
they will continue to have a more limited effect on our business
in the early months of the year, leading to some revenue decline
in the first quarter 2007."  Ms. Russo said.

"We are confident that we can resume revenue growth as the year
progresses.  Looking forward to the full year 2007, we expect
revenues to increase on a percentage basis at least at the
carrier market growth rate of mid single digits."

                 Greater Restructuring Potential

Goldman Sachs, meanwhile, said Alcatel's steeper job cuts shows
that the communication solutions provider has greater
restructuring potential than some investors believe, the Wall
Street Journal reports.  Goldman Sachs told clients that
increased confidence in the speed and timing of recovery in CDMA
is "the key factor" that will drive additional growth for
Alcatel-Lucent, WSJ adds.

"We feel management has given some comfort that the issues faced
by Alcatel-Lucent are short-term rather than structural,"
Deutsche Bank told WSJ.

                      About Alcatel-Lucent

Headquartered in Paris, France, Alcatel-Lucent
-- http://www.alcatel-lucent.com/-- provides solutions that
enable service providers, enterprises and governments worldwide,
to deliver voice, data and video communication services to end
users.  Through its operations in fixed, mobile and converged
broadband networking, Internet protocol (IP) technologies,
applications, and services, Alcatel-Lucent offers the end-to-end
solutions that enable communications services for people at
home, at work and on the move.

On Nov. 30, 2006, Alcatel and Lucent Technologies Inc. completed
their merger transaction, and began operations as a
communication solutions provider under the name Alcatel-Lucent
on Dec. 1, 2006.

                          *     *     *

As of Feb. 7, Alcatel-Lucent carries these ratings:

Moodys:

   * Alcatel

   -- Corporate Family: Ba2
   -- Senior Debt: Ba2
   -- short-term debt: Not-Prime

   * Lucent

   -- Corporate Family: B1 (withdrawn)
   -- Senior Debt: B1
   -- Subordinated debt & trust preferreds: B2
   -- Preferred Stock Issuable: P(B3)

Standard & Poor's:

   -- Long-Term Corporate Credit: BB-
   -- Short-Term Corporate Credit: B
   -- Senior Unsecured Debt: BB-
   -- Outlook: positive.

Fitch Ratings:

   * Alcatel

   -- Issuer Default: BB
   -- Senior Unsecured Debt: BB


ALCATEL-LUCENT: Aims 12,500 Job Cuts Due to Q4 2006 Losses
----------------------------------------------------------
Alcatel-Lucent plans to decrease its work force by 12,500
employees, after the company disclosed losses for the fourth
quarter of 2006, the Wall Street Journal reports.

WSJ reveals that some 3,500 workers will be laid off on top of
the 9,000 originally announced by the company following the
Alcatel-Lucent merger.

The company posted EUR618 million in net loss on EUR4.42 billion
in net revenues for the fourth quarter 2006, compared with
EUR381 million in net profit on EUR5.25 billion in net revenues
for the same period in 2005.  The fourth quarter net loss is the
first for which the newly merged telecommunications-equipment
maker reported combined earnings, WSJ relates.

"As a result, we expect the impact on our global workforce will
be about 12,500 positions over three years," Patricia Russo,
Chief Executive of Alcatel-Lucent, said.  "These are difficult
but necessary decisions, and we will manage these reductions
with care. We are committed to serving our customers' needs,
with a competitive cost structure and effective operating model.
We will maintain the appropriate workforce level to do that."

Ms. Russo said the company is leveraging the integration of
Alcatel S.A. and Lucent Technologies to create a more
competitive enterprise over the long term and enhance its
operating model to enable greater efficiencies in operations.

The chief executive said the company aims to optimize its supply
chain and services, eliminate of duplicate resources, and
rationalize its product.  Ms. Russo said the company could save
as much as EUR1.7 billion in pre-tax cost within three years,
with at least EUR600 million for 2007.

                      About Alcatel-Lucent

Headquartered in Paris, France, Alcatel-Lucent
-- http://www.alcatel-lucent.com/-- provides solutions that
enable service providers, enterprises and governments worldwide,
to deliver voice, data and video communication services to end
users.  Through its operations in fixed, mobile and converged
broadband networking, Internet protocol (IP) technologies,
applications, and services, Alcatel-Lucent offers the end-to-end
solutions that enable communications services for people at
home, at work and on the move.

On Nov. 30, 2006, Alcatel and Lucent Technologies Inc. completed
their merger transaction, and began operations as a
communication solutions provider under the name Alcatel-Lucent
on Dec. 1, 2006.

                          *     *     *

As of Feb. 7, Alcatel-Lucent carries these ratings:

Moodys:

   * Alcatel

   -- Corporate Family: Ba2
   -- Senior Debt: Ba2
   -- short-term debt: Not-Prime

   * Lucent

   -- Corporate Family: B1 (withdrawn)
   -- Senior Debt: B1
   -- Subordinated debt & trust preferreds: B2
   -- Preferred Stock Issuable: P(B3)

Standard & Poor's:

   -- Long-Term Corporate Credit: BB-
   -- Short-Term Corporate Credit: B
   -- Senior Unsecured Debt: BB-
   -- Outlook: positive.

Fitch Ratings:

   * Alcatel

   -- Issuer Default: BB
   -- Senior Unsecured Debt: BB


ALSTOM SA: Gets EUR270 Million Order From French Railway Company
----------------------------------------------------------------
French Railway Company SNCF has placed an order with Alstom for
the supply of 51 new double-deck Coradia Duplex distributed-
power regional trains, consisting of 39 triple-car trainsets and
12 four-car trainsets, making a total of 165 coaches.

Under an industrial work-share agreement with Alstom, Bombardier
will participate in the manufacture of 63 of the cars.  The
order forms part of the multi-year investment program launched
in September 2000 and financed by French regions, to renew the
TER (Regional Express Trains) fleet.

The 51 trainsets will be shared between the regions of Nord Pas-
de-Calais, Rhone-Alpes, Provence-Cote d'Azur, and Picardy.  The
Alstom sites of Valenciennes, Tarbes, Villeurbanne, Le Creusot,
and Ornans in France, and also the Charleroi site in Belgium,
will take part in fulfilling the contract.

In terms of freight, private operator Veolia Cargo exercised an
option to acquire 10 Prima electric locomotives, with associated
maintenance for a period of 8 years.

These options, which form part of the contract signed on Oct. 3,
2005, bring to 17 the number of locomotives acquired by Veolia
Cargo.  In January 2007, Veolia Cargo received 4 locomotives.

Three others are currently in production and will be delivered
between now and July 2007.  The 10 new locomotives will be
delivered between February and October 2008.

The new locomotives will be able to operate throughout France
and Germany, thanks to their tri-current power supply system.
Links between the two countries have been operated using similar
trains since the autumn of 2006.

They will be constructed on the Belfort site, which will
assemble equipment supplied by the sites of Omans, Tarbes,
Villeurbanne, and Le Creusot in France, and the site at
Charleroi in Belgium.

                          About Alstom

Headquartered in Paris, France, Alstom S.A. --
http://www.alstom.com/-- is a leading maker of power-generation
systems and constructs power plants, rail equipment, luxury
passenger ships, naval vessels, and natural gas tankers.  It
also produces electrical drives, motors, and generators.  The
group generates EUR13 billion in annual revenues and employs
more than 70,000 people worldwide.

For the fiscal year ended March 31, 2006, Alstom posted EUR178
million in net profit on EUR13.4 billion in net sales, compared
to EUR628 million in net loss on EUR12.9 billion in net sales a
year ago.

As of March 31, 2006, Alstom had EUR18.408 billion in total
assets, EUR16.568 billion in total liabilities and EUR1.84
billion in total equity.  As of March 31, 2006, Alstom had
EUR8.785 billion in current assets and EUR11.802 billion in
current liabilities.


ALSTOM SA: Targets France & Italy for New Locomotive Contracts
--------------------------------------------------------------
Alstom SA launched a new breed of locomotives and is looking
towards Italy and France for contracts, hoping to earn billions
of euros by 2008, John Jannarone writes for the Wall Street
Journal.

"The Italian tender should come out this year and the French
tender should come out next year," said Philippe Mellier, Alstom
Transport's president.

The company is looking at potential orders of more than EUR1
billion from Italy, with even higher prospects from France.  The
first train will be released at the end of 2007, WSJ relates.

"My guess is that the contract for Italy will be for 40 or 50
train sets," Mr. Mellier said.  He added that France could buy
more than 100 locomotives to expand and revamp its old fleet,
the report says.

Alstom's Train a Grande Vitesse, with the help of a new
technology called automotrice a grand vitesse, will try to break
a rail-speed record of 550 kilometers an hour, WSJ states.

Meanwhile, Alstom landed a EUR1.2 billion contract with China in
October to supply 500 freight locomotives.  China is setting up
a high-speed link between Beijing and Shanghai, which it plans
to finish by 2010, WSJ relates.

According to the report, orders at the transport division
plummeted 30% in the third quarter ended December 2006, compared
with the same period in 2005, after falling 18% in the first
half of Fiscal-Year 2006.

Some contracts were not booked in the third quarter, including
the deal with China, WSJ reports.

"It's usually pretty long between contract award and putting it
in force, but it's going to come and we're expecting a good year
overall," Mr. Mellier said, neglecting to name a specific
target.

                          About Alstom

Headquartered in Paris, France, Alstom S.A. --
http://www.alstom.com/-- is a leading maker of power-generation
systems and constructs power plants, rail equipment, luxury
passenger ships, naval vessels, and natural gas tankers.  It
also produces electrical drives, motors, and generators.  The
group generates EUR13 billion in annual revenues and employs
more than 70,000 people worldwide.

For the fiscal year ended March 31, 2006, Alstom posted EUR178
million in net profit on EUR13.4 billion in net sales, compared
to EUR628 million in net loss on EUR12.9 billion in net sales a
year ago.

As of March 31, 2006, Alstom had EUR18.408 billion in total
assets, EUR16.568 billion in total liabilities and EUR1.84
billion in total equity.  As of March 31, 2006, Alstom had
EUR8.785 billion in current assets and EUR11.802 billion in
current liabilities.


=============
G E R M A N Y
=============


AGA PRAZISIONSTEILE: Claims Registration Period Ends March 16
-------------------------------------------------------------
Creditors of AGA Prazisionsteile GmbH have until March 16 to
register their claims with court-appointed insolvency manager
Peter Scholl.

Creditors and other interested parties are encouraged to attend
the meeting at 1:15 p.m. on April 17, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Gera
         Hall 317
         Rudolf-Diener-Str. 1
         Gera
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Peter Scholl
         Andreasstrasse 39
         99084 Erfurt
         Germany

The District Court of Gera opened bankruptcy proceedings against
AGA Prazisionsteile GmbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         AGA Prazisionsteile GmbH
         Attn: Wolfgang Ruetten, Manager
         Hermsdorf 31 a
         07554 Gera
         Germany


ARDY MENUE: Claims Registration Period Ends March 7
---------------------------------------------------
Creditors of ARDY Menue-GmbH have until March 7 to register
their claims with court-appointed insolvency manager
Thomas Kind.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on April 18, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Karlsruhe
         Hall IV
         First Floor
         Schlossplatz 23
         76131 Karlsruhe
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Thomas Kind
         Eisenbahnstr. 19-23
         77855 Achern
         Germany
         Tel: (078 41) 7080

The District Court of Karlsruhe opened bankruptcy proceedings
against ARDY Menue-GmbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         ARDY Menue-GmbH
         Attn: Ursula Tacke und Hans-Juergen Roes, Managers
         Holzstr. 1-3
         13359 Berlin
         Germany


ARTEMIS GMBH: Claims Registration Period Ends March 8
-----------------------------------------------------
Creditors of ARTEMIS GmbH have until March 8 to register their
claims with court-appointed insolvency manager Georg Kreplin.

Creditors and other interested parties are encouraged to attend
the meeting at 8:55 a.m. on April 5, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Duesseldorf
         Meeting Hall A 409
         Fourth Floor
         Muehlenstrasse 34
         40213 Duesseldorf
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Georg Kreplin
         Breite Strasse 27
         40213 Duesseldorf
         Germany

The District Court of Duesseldorf opened bankruptcy proceedings
against ARTEMIS GmbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         ARTEMIS GmbH
         Graf-Adolf-Str. 73
         40210 Duesseldorf
         Germany

         Attn: Hikmet Savas Kandemir, Manager
         Parkhofstr. 95
         41836 Hueckelhoven
         Germany


ASPHALTBAU DZIURA: Claims Registration Ends March 16
----------------------------------------------------
Creditors of Asphaltbau Dziura GmbH have until March 16 to
register their claims with court-appointed insolvency manager
Alexander Hoepfner.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on April 17, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Darmstadt
         Hall 4.312
         Fourth Floor
         Building D
         Mathildenplatz 15
         64283 Darmstadt
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Dr. Alexander Hoepfner
         Darmstadter Str. 43
         64646 Heppenheim
         Germany
         Tel: 06252-6739988
         Fax: 06252-6739989

The District Court of Darmstadt opened bankruptcy proceedings
against Asphaltbau Dziura GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Asphaltbau Dziura GmbH
         Wiesenstr. 1
         64625 Bensheim
         Germany

         Attn: Gerda Anna Brueckmann, Manager
         O.-Sch.-Schremser-Str. 69
         68642 Buerstadt
         Germany


AUFBEREITUNGSMASCHINEN GMBH: Creditors' Meeting Set for March 20
----------------------------------------------------------------
The court-appointed insolvency manager for
Aufbereitungsmaschinen GmbH & Co. Foerderanlagen KG,
Thomas Joswig, will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 11:00 a.m. on
March 20.

The meeting of creditors and other interested parties will be
held at:

         The District Court of Darmstadt
         Hall 4.312
         Fourth Floor
         Building D
         Mathildenplatz 15
         64283 Darmstadt
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 10:00 a.m. on May 31 at the same venue.

Creditors have until April 19 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Thomas Joswig
         Besselstrasse 2-4
         68219 Mannheim
         Germany
         Tel: 0621-84 55 78 - 0
         Fax: 0621-84 55 78 - 10
         Web site: http://www.kuebler-gbr.de/

The District Court of Darmstadt opened bankruptcy proceedings
against Aufbereitungsmaschinen GmbH & Co. Foerderanlagen KG on
Feb. 1.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Aufbereitungsmaschinen GmbH & Co. Foerderanlagen KG
         Goethestrasse 11
         64625 Bensheim
         Germany


AUTO RITZ: Creditors' Meeting Slated for February 21
----------------------------------------------------
The court-appointed insolvency manager for Auto Ritz GmbH,
Oliver Roesler, will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 10:00 a.m. on
Feb. 21.

The meeting of creditors and other interested parties will be
held at:

         The District Court of Saarbruecken
         Meeting Hall 13
         First Floor
         Branch Office Sulzbach
         Vopeliusstrasse 2
         66280 Sulzbach
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:00 a.m. on April 10 at the same venue.

Creditors have until March 23 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Oliver Roesler
         Kaiserstrasse 56
         66424 Homburg
         Germany
         Tel: (06841) 696 118
         Fax: (06841) 696 204

The District Court of Saarbruecken opened bankruptcy proceedings
against Auto Ritz GmbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Auto Ritz GmbH
         Attn: Peter Ames and Dietmar Leick, Managers
         Sender 5
         66346 Puettlingen
         Germany


AUTOHAUS ERHARD: Claims Registration End March 21
-------------------------------------------------
Creditors of Autohaus Erhard Droessler GmbH have until March 21
to register their claims with court-appointed insolvency manager
Jutta Ruedlin.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on May 2, at which time the insolvency
manager will present her first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Fritzlar
         Meeting Hall 17
         Building A
         Schladenweg 1
         34560 Fritzlar
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Jutta Ruedlin
         Markt 4
         34212 Melsungen
         Germany
         Tel: 05661/926280
         Fax: 05661/9262820

The District Court of Fritzlar opened bankruptcy proceedings
against Autohaus Erhard Droessler GmbH on Feb. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         Autohaus Erhard Droessler GmbH
         Hohlen Graben 2
         34560 Fritzlar
         Germany

         Attn: Friedrich-Wilhelm Lueke, Manager
         Rottland 6
         34326 Morschen
         Germany


AUTOHAUS MAIER: Claims Registration Period Ends March 5
-------------------------------------------------------
Creditors of Autohaus Maier GmbH have until March 5 to register
their claims with court-appointed insolvency manager Fritz
Zanker.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on April 16, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Aalen
         Hall 0.11
         Ground Floor
         Stuttgarter Str. 7
         73430 Aalen
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Fritz Zanker
         c/o Buero Pluta
         Karlstrasse 33
         89073 Ulm
         Germany

The District Court of Aalen opened bankruptcy proceedings
against Autohaus Maier GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Autohaus Maier GmbH
         Attn: Markus Maier, Manager
         Alemannenstr. 22
         73529 Schwabisch Gmuend
         Germany


AUTOHAUS WEISS: Claims Registration Period Ends March 9
-------------------------------------------------------
Creditors of Autohaus Weiss GmbH have until March 9 to register
their claims with court-appointed insolvency manager Peter
Mueller.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on March 23, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Neustadt
         C 9 Seitengebaude
         Robert-Stolz-Str. 20
         67433 Neustadt
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Peter Mueller
         Neumayerring 31
         67227 Frankenthal
         Germany

The District Court of Neustadt opened bankruptcy proceedings
against Autohaus Weiss GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Autohaus Weiss GmbH
         Attn: Michael Weisbrodt and Franz Aderjan, Managers
         Mannheimer Str. 70
         67098 Bad Duerkheim
         Germany


AWO WOHNBAU: Claims Registration Period Ends March 15
-----------------------------------------------------
Creditors of AWO - Wohnbau GmbH have until March 15 to register
their claims with court-appointed insolvency manager
Karl Dinkel.

Creditors and other interested parties are encouraged to attend
the meeting at 8:40 a.m. on April 23, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Ingolstadt
         Meeting Hall 28 I
         Schrannenstr. 3
         85049 Ingolstadt
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Karl Dinkel
         Rosenstrasse 107
         86633 Neuburg/Donau
         Germany
         Tel: 08431/7201
         Fax: 08431/7214

The District Court of Ingolstadt opened bankruptcy proceedings
against AWO - Wohnbau GmbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         AWO - Wohnbau GmbH
         Attn: Franz Xaver Assenbrunner, Manager
         Sonnenhamer Str. 21
         86561 Aresing
         Germany


AZ ALOIS: Claims Registration Period Ends March 10
--------------------------------------------------
Creditors of AZ Alois Zoidl GmbH have until March 10 to register
their claims with court-appointed insolvency manager
Juergen Pietzker.

Creditors and other interested parties are encouraged to attend
the meeting at 7:50 a.m. on March 30, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Landshut
         Meeting Hall 9/I
         Maximilianstrasse 22-24
         Landshut
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Juergen Pietzker
         Isargestade 732
         84028 Landshut
         Germany
         Tel: 0871/89629
         Fax: 0871/274638

The District Court of Landshut opened bankruptcy proceedings
against AZ Alois Zoidl GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         AZ Alois Zoidl GmbH
         Muehlenbauerweg 1
         84332 Hebertsfelden
         Germany


B.E.S.T. GMBH: Claims Registration Period Ends February 23
----------------------------------------------------------
Creditors of B.E.S.T. GmbH Planen und Bauen have until Feb. 23
to register their claims with court-appointed insolvency manager
Ulrich Graf.

Creditors and other interested parties are encouraged to attend
the meeting at 9:10 a.m. on March 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Bayreuth
         Meeting Hall 520
         Ground Floor
         Friedrichstr. 18
         Bayreuth
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Dr. Ulrich Graf
         Rathenaustrasse 7
         95444 Bayreuth
         Germany
         Tel: 0921/75933-0
         Fax: 0921/75933-50

The District Court of Bayreuth opened bankruptcy proceedings
against B.E.S.T. GmbH Planen und Bauen on Feb. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         B.E.S.T. GmbH Planen und Bauen
         Attn: Peter Buermann, Manager
         Brunngasse 17
         95463 Bindlach
         Germany


BARTOTEC GMBH: Claims Registration Period Ends March 1
------------------------------------------------------
Creditors of Bartotec GmbH & Co. KG have until March 1 to
register their claims with court-appointed insolvency manager
Mathias Dorn.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on March 22, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Kempten
         Hall 144/I
         Residenzplatz 4-6
         87435 Kempten
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Mathias Dorn
         Allgauer Str.1
         87435 Kempten
         Germany
         Tel: (0831) 580 0434
         Fax: (0831) 580 0464

The District Court of Kempten opened bankruptcy proceedings
against Bartotec GmbH & Co. KG on Jan. 31.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Bartotec GmbH & Co. KG
         Heisinger Str. 12
         87435 Kempten
         Germany


BARTOTEC VERWALTUNGS: Claims Registration Ends March 6
------------------------------------------------------
Creditors of Bartotec Verwaltungs GmbH have until March 6 to
register their claims with court-appointed insolvency manager
Joachim Schwendinger.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on March 27, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Kempten
         Hall 144/I
         Residenzplatz 4-6
         87435 Kempten
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Joachim Schwendinger
         Allgauer Str. 1
         87435 Kempten
         Germany
         Tel: (0831) 580 0434
         Fax: (0831) 580 0464

The District Court of Kempten opened bankruptcy proceedings
against Bartotec Verwaltungs GmbH on Jan. 31.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Bartotec Verwaltungs GmbH
         Heisinger Str. 12
         87435 Kempten
         Germany


BAU-HERKOMMER: Claims Registration Period Ends March 20
-------------------------------------------------------
Creditors of Bau-Herkommer GmbH have until March 20 to register
their claims with court-appointed insolvency manager Wolfgang
Hauser.

Creditors and other interested parties are encouraged to attend
the meeting at 9:35 a.m. on April 23, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Aalen
         Hall 0.11
         Ground Floor
         Stuttgarter Strasse 7
         73430 Aalen
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Wolfgang Hauser
         Moehringer Landstr. 5
         70563 Stuttgart
         Germany
         Tel: 0711/90134-20
         Fax: 0711/90134-199
         E-mail: stuttgart@hauser-hawelka.de

The District Court of Aalen opened bankruptcy proceedings
against Bau-Herkommer GmbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         Bau-Herkommer GmbH
         Attn: Ulrich Herkommer, Manager
         Strassdorfer Str. 3
         73550 Waldstetten
         Germany


BENQ CORP: Euro 2008 Sponsorship Irks German Workers Union
----------------------------------------------------------
BenQ Corp., the Taiwan-based parent of bankrupt BenQ Mobile GmbH
& Co. OHG, reveals an official sponsorship to the UEFA Euro 2008
in Austria and Switzerland triggering protests from German
politicians and trade union officials.

The announcement came following BenQ Mobile's closure of its
Kamp-Lintfort factory in North Rhine-Westphalia, Germany, and
thousands of job cuts in the country.

"These plans are tasteless, arrogant and a slap in the face for
all those who lost their job," IG Metall union spokesman
Georgios Arwanitidis told Berliner Zeitung.

Deutsche Welle says some 2,000 people have been laid-off from
BenQ Mobile since Jan. 31 after the company filed for insolvency
on Sept. 29, 2006.

However, K.Y. Lee, chairman of BenQ Corp., said "the sponsorship
supports BenQ's commitment to Europe and ongoing efforts to make
BenQ a household name in the region."

"The UEFA European Football Championship is one of the most
prestigious and recognizable sporting brands in the world.  It
has a heritage and legacy with football fans of all ages for the
quality of the football and the enjoyment the tournament brings
to fans around the world.  This reflects BenQ's mission to
enhance customer enjoyment through quality consumer-oriented
solutions designed especially for the networked digital
lifestyle," Mr. Lee said.

According to Deutsche Welle, the latest deal reportedly cost at
least EUR15 million, with some speculating between EUR30 million
and EUR40 million.

"If BenQ wants to make an image campaign, it can start here in
Kamt-Lintfort by spending the same sum they are giving UEFA on
the creation of new jobs," IG Metall official Ulrich Marschner
from the former BenQ Mobile plant in western German Kamp-
Lintfort told the Neue Rhein/Neue Ruhr Zeitung.

                           About BenQ

Headquartered in Taiwan, Republic of China, BenQ Corp.,
Inc. -- http://www.benq.com/-- is principally engaged in
manufacturing, developing and selling of computer peripherals
and telecommunication products.  It is also a major provider of
3G handset, 3G handset, Camera phones, and other products.

BenQ Mobile GmbH & Co., the company's wholly owned subsidiary,
operates from Munich, Germany.  BenQ Mobile filed for insolvency
in Germany on Sept. 29, after BenQ Corp.'s board decided to
discontinue capital injection into the mobile unit in order to
stem unsustainable losses.  The collapse follows a year after
Siemens sold the company to Taiwanese technology group BenQ.
BenQ Mobile has lost market share against giant competitors.

A Munich Court opened insolvency proceedings against BenQ Mobile
GmbH & Co OHG on Jan. 1 after Martin Prager, the company's
insolvency administrator, failed to meet the deadline in finding
a buyer for the company on Dec. 31, 2006.

                        *     *     *

The Troubled Company Reporter - Asia Pacific reported on
Dec. 5, 2006, that Taiwan Ratings Corp., assigned its long-term
twBB+ and short-term twB corporate credit ratings to BenQ Corp.
The outlook on the long-term rating is negative.  At the same
time, Taiwan Ratings assigned its twBB+ issue rating to BenQ's
existing NT$7.05 billion unsecured corporate bonds due in 2008,
2009, and 2010.

The ratings reflect BenQ's:

   * continuing operating losses from its handset operations;

   * high leverage; and

   * the competitive nature and low profitability of the LCD
     monitor industry.


BERTHOLD WOLF: Claims Registration Ends March 10
------------------------------------------------
Creditors of Berthold Wolf Transporte GmbH Silo have until
March 10 to register their claims with court-appointed
insolvency manager Hans-Joerg Derra.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on March 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Ravensburg
         Hall 127
         First Stock
         Herrenstr. 42
         88212 Ravensburg
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be contacted at:

         Hans-Joerg Derra
         Frauenstr. 14
         89073 Ulm
         Germany

The District Court of Ravensburg opened bankruptcy proceedings
against Berthold Wolf Transporte GmbH Silo on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Berthold Wolf Transporte GmbH Silo
         Attn: Berthold Wolf, Manager
         Rautbruehl 6
         88214 Ravensburg
         Germany


BILDERWELT FOTO: Claims Registration Ends March 12
--------------------------------------------------
Creditors of Bilderwelt Foto Juergensen GmbH have until March 12
to register their claims with court-appointed insolvency manager
Dr. Frank Nikolaus.

Creditors and other interested parties are encouraged to attend
the meeting at 1:00 p.m. on March 27, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Essen
         Meeting Hall 293
         Second Floor
         Zweigertstr. 52
         45130 Essen
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Frank Nikolaus
         Alfredstr. 108-112
         45131 Essen
         Germany
         Tel: 87 90 40

The District Court of Essen opened bankruptcy proceedings
against Bilderwelt Foto Juergensen GmbH on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Bilderwelt Foto Juergensen GmbH
         Pommerstr. 17
         45889 Gelsenkirchen
         Germany


BM GIGATEC: Claims Registration Ends March 27
---------------------------------------------
Creditors of BM GIGATEC Handels GmbH have until March 27 to
register their claims with court-appointed insolvency manager
Stefan Meyer.

Creditors and other interested parties are encouraged to attend
the meeting at 9:35 a.m. on April 17, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Bielefeld
         Hall 4065
         Fourth Floor
         Gerichtstrasse 66
         33602 Bielefeld
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Stefan Meyer
         Ostertorstr. 7
         32312 Luebbecke
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against BM GIGATEC Handels GmbH on Jan. 26.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         BM GIGATEC Handels GmbH
         Steubenstr. 6
         32312 Luebbecke
         Germany


BOHNITA CAFE: Claims Registration Ends March 30
-----------------------------------------------
Creditors of bohnita cafe & cocktails GmbH have until March 30
to register their claims with court-appointed insolvency manager
Werner Mueller.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on April 24, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Wuerzburg
         Meeting Hall 2
         Second Stock
         Virchowstr. 14
         Wuerzburg
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Werner Mueller
         Mergentheimer Str. 26
         97082 Wuerzburg
         Germany
         Tel: 0931/880800

The District Court of Wuerzburg opened bankruptcy proceedings
against bohnita cafe & cocktails GmbH on Feb. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         bohnita cafe & cocktails GmbH
         Beim Grafeneckart 15
         97070 Wuerzburg
         Germany


BS4D-SOFTWARE: Claims Registration Ends March 14
------------------------------------------------
Creditors of BS4D - Software und Marketing AG have until
March 14 to register their claims with court-appointed
insolvency manager Bernd Depping.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on March 29, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Essen
         Meeting Hall 293
         Second Floor
         Zweigertstr. 52
         45130 Essen
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Bernd Depping
         Alfredstr. 108-112
         45131 Essen
         Germany

The District Court of Essen opened bankruptcy proceedings
against BS4D - Software und Marketing AG on Jan. 31.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         BS4D - Software und Marketing AG
         Manderscheidtstr. 30
         45141 Essen
         Germany


BUCKEYE TECHNOLOGIES: Earns US$3.8 Mln in Quarter Ended Dec. 31
---------------------------------------------------------------
Buckeye Technologies Inc. reported net earnings of US$3.8
million on net sales of US$184.7 million for the second quarter
ended Dec. 31, 2006, compared with net earnings of US$1.9
million on net sales of US$188.3 million for the same period in
2005.  Net earnings in 2005 included US$700,000 after tax in
restructuring expenses associated with last year's closure of
the Glueckstadt, Germany cotton linter pulp plant.

Net sales for the first six months of fiscal year 2007 were
US$376.1 million, 6% higher than net sales of US$353.7 million
for the same period last year.

Buckeye Chairman John B. Crowe commented, "Demand for our
products is strong and we have implemented price increases in
January. Operational issues early in the October-December
quarter at our Florida wood specialty fibers facility limited
our sales.  With low inventories, our sales are closely matched
to production.  The Florida facility has returned to full
production rates.  Going forward our focus on operational
reliability will help maximize sales."

Mr. Crowe went on to say, "Continued strong cash flow generation
enabled us to reduce debt by US$13 million during the quarter
even with two large semi-annual bond interest payments, our
annual employee retirement plan contribution and our annual
Florida property tax payment."

Full-text copies of the company's consolidated financial
statements for the quarter ended Dec. 31, 2006, are available
for free at http://researcharchives.com/t/s?19a1

                     About Buckeye Technologies

Headquartered in Memphis, Tennessee, Buckeye Technologies Inc.
(NYSE:BKI) -- http://www.bkitech.com/-- manufactures and
markets specialty fibers and nonwoven materials.  The company
currently operates facilities in the United States, Germany,
Canada, and Brazil.  Its products are sold worldwide to makers
of consumer and industrial goods.

                           *     *     *

As reported in the Troubled Company Reporter on March 9, 2006,
Standard & Poor's Ratings Services revised its outlook on
Buckeye Technologies Inc. to negative from stable.  At the same
time, Standard & Poor's affirmed its ratings, including the
'BB-' corporate credit rating, on the company.

Moody's Investors Service, in connection with the implementation
of its new Probability-of-Default and Loss-Given-Default rating
methodology for the North American Forest Products sector,
confirmed its B2 Corporate Family Rating for Buckeye
Technologies Inc.


CDIRECT MAILING: Creditors Must Register Claims by March 9
----------------------------------------------------------
Creditors of cdirect mailing GmbH have until March 9 to register
their claims with court-appointed insolvency manager
Tibor Braun.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 a.m. on April 26, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Esslingen
         Festival Hall
         Quadrium Convention Center
         Kirchheimer Str. 68
         73249 Wernau
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Tibor Braun
         Kriegerstr. 3
         70197 Stuttgart
         Germany
         Tel: 0711/225583-0
         Fax: 0711/225583-20

The District Court of Esslingen opened bankruptcy proceedings
against cdirect mailing gmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         cdirect mailing gmbH
         Attn: Gerhard Kaiser, Manager
         Antoniusstr. 21-23
         73249 Wernau
         Germany


CNS MAGDEBURG: Claims Registration Ends March 1
-----------------------------------------------
Creditors of CNS Magdeburg Computer & Netzwerk Systemhaus GmbH &
Co. KG have until March 1 to register their claims with court-
appointed insolvency manager Lucas F. Flother.

Creditors and other interested parties are encouraged to attend
the meeting at 10:10 a.m. on March 22, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Magdeburg
         Hall D
         Insolvency Department
         Liebknechtstrasse 65-91
         39110 Magdeburg
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Lucas F. Flother
         Halberstadter Str. 55
         39112 Magdeburg
         Germany
         Tel: 0391/5556840
         Fax: 0391/5556849
         E-mail: magdeburg@feigl.biz

The District Court of Magdeburg opened bankruptcy proceedings
against CNS Magdeburg Computer & Netzwerk Systemhaus GmbH & Co.
KG on Jan. 30.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         CNS Magdeburg Computer & Netzwerk Systemhaus
         GmbH & Co. KG
         Halberstadter Str. 32
         39112 Magdeburg
         Germany


COMARKET GESELLSCHAFT: Claims Registration Ends March 15
--------------------------------------------------------
Creditors of COMARKET Gesellschaft fuer communikatives Marketing
mbH have until March 15 to register their claims with court-
appointed insolvency manager Thomas Penczek.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on April 2, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Bremerhaven
         Hall 209
         Nordstr. 10
         27580 Bremerhaven
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Thomas Penczek
         Martinistr. 3
         28195 Bremen
         Germany
         Tel: 0421/338 72 22
         Fax: 0421/321050

The District Court of Bremerhaven opened bankruptcy proceedings
against COMARKET Gesellschaft fuer communikatives Marketing mbH
on Jan. 31.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         COMARKET Gesellschaft fuer communikatives
         Marketing mbH
         Grazer Str. 70
         27568 Bremerhaven
         Germany


CWF COLD: Claims Registration Ends March 20
-------------------------------------------
Creditors of CWF Cold & Fresh GmbH & Co. KG have until March 20
to register their claims with court-appointed insolvency manager
Christopher Seagon.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on April 4, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Karlsruhe
         Hall IV/1.OG
         Schlossplatz 23
         76131 Karlsruhe
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Christopher Seagon
         Blumenstr. 17
         69115 Heidelberg
         Germany
         Tel: (062 21) 91 18 0

The District Court of Karlsruhe opened bankruptcy proceedings
against CWF Cold & Fresh GmbH & Co. KG on Feb. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         CWF Cold & Fresh GmbH & Co. KG
         Attn: Ursula Tacke, Manager
         Auf der Breit 11
         76227 Karlsruhe
         Germany


FIBA-SERVICE: Claims Registration Period Ends March 9
-----------------------------------------------------
Creditors of FIBA-Service GmbH have until March 9 to register
their claims with court-appointed insolvency manager Frank Raff.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on March 30, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Esslingen
         Hall 1
         Entrance Strohstr. 1st OG
         Ritterstrasse
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Frank Raff
         Heilbronner Str. 86
         70191 Stuttgart
         Germany
         Tel: 0711/259729-0
         Fax: 0711/259729-999

The District Court of Esslingen opened bankruptcy proceedings
against FIBA-Service GmbH on Jan. 26.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         FIBA-Service GmbH
         Attn: Silvia Fischer, Manager
         Burgstr. 14
         73765 Neuhausen
         Germany


FIRMA BAYERN: Claims Registration Period Ends Feb. 28
-----------------------------------------------------
Creditors of Firma Bayern Spedition Hilden GmbH have until
Feb. 28 to register their claims with court-appointed insolvency
manager Biner Baehr.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on March 16, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Duesseldorf
         Boardroom A 341
         Third Floor
         Muehlenstrasse 34
         40213 Duesseldorf
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Biner Baehr
         Graf-Adolf-Platz 15
         40213 Duesseldorf
         Germany

The District Court of Duesseldorf opened bankruptcy proceedings
against Firma Bayern Spedition Hilden GmbH on Jan. 29.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Firma Bayern Spedition Hilden GmbH
         Ernst-Tellering-Strasse 44
         40764 Langenfeld
         Germany

         Attn: Juergen Mundt, Manager
         Wiescherstrasse 149
         44625 Herne und Manfred Schramm
         Laerchenweg 5
         41470 Neuss
         Germany


FRE FOERDERTECHNIK: Claims Registration Period Ends March 6
-----------------------------------------------------------
Creditors of FRE Foerdertechnik Rhein-Erft GmbH have until
March 6 to register their claims with court-appointed insolvency
manager Jana Dettmer.

Creditors and other interested parties are encouraged to attend
the meeting at 8:50 a.m. on March 27, at which time the
insolvency manager will present her first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Cologne
         Boardroom 14
         Ground Floor
         Luxemburger Strasse 101
         50939 Cologne
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Jana Dettmer
         Weyerstrasse 54
         50676 Cologne
         Germany

The District Court of Cologne opened bankruptcy proceedings
against FRE Foerdertechnik Rhein-Erft GmbH on Jan. 17.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         FRE Foerdertechnik Rhein-Erft GmbH
         Attn: Iris Fischer, Manager
         Pfarrer-Weissenfeld-Str. 14
         50374 Erftstadt
         Germany


GROM GMBH: Claims Registration Ends March 5
-------------------------------------------
Creditors of Grom GmbH have until March 5 to register their
claims with court-appointed insolvency manager Frank Hanselmann.

Creditors and other interested parties are encouraged to attend
the meeting at 2:25 p.m. on March 29, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Schweinfurt
         Meeting Room 7
         Schweinfurt
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Frank Hanselmann
         Berliner Platz 6
         97080 Wuerzburg
         Germany
         Tel: 0931/359800
         Fax: 0931/3598050

The District Court of Schweinfurt opened bankruptcy proceedings
against Grom GmbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Grom GmbH
         Bismarckstr. 8-10
         97688 Bad Kissingen
         Germany


H & S STAHLBAU: Claims Registration Ends March 9
------------------------------------------------
Creditors of H & S Stahlbau Hoogstede GmbH have until March 9 to
register their claims with court-appointed insolvency manager
Heinrich Stellmach.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on March 28, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court Nordhorn
         Hall 42
         Seilerbahn 15
         48529 Nordhorn
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Heinrich Stellmach
         Kollegienwall 3-4, D
         49074 Osnabrueck
         Tel.: 0541/18170
         Fax: 0541/1817-3209

The District Court of Nordhorn opened bankruptcy proceedings
against H & S Stahlbau Hoogstede GmbH on Feb. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         H & S Stahlbau Hoogstede GmbH
         Bathorner Diek 3
         49846 Hoogstede
         Germany

         Attn: Hermann van Bassen, Manager
         Ramselerstr. 2
         49811 Lingen
         Germany


HANSE MENUE-DIENST: Claims Registration Ends March 7
----------------------------------------------------
Creditors of Hanse Menue-Dienst und Senioren-Verpflegung GmbH
have until March 7 to register their claims with court-appointed
insolvency manager Thomas Kind.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on April 18, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Karlsruhe
         First Floor
         Hall IV
         Schlossplatz 23
         Karlsruhe
         76131 Karlsruhe
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Thomas Kind
         Eisenbahnstr. 19-23
         77855 Achern
         Germany
         Tel: (07841) 7080

The District Court of Karlsruhe opened bankruptcy proceedings
against Hanse Menue-Dienst und Senioren-Verpflegung GmbH on
Feb. 1.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Hanse Menue-Dienst und Senioren-Verpflegung GmbH
         Attn: Ursula Tacke, Manager
         Gutenbergstr. 31
         21465 Reinbek
         Germany


HERMANN FLEIG: Claims Registration Ends March 5
-----------------------------------------------
Creditors of Hermann Fleig GmbH have until March 5 to register
their claims with court-appointed insolvency manager Dr.
Christof Heil.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on April 5, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Villingen-Schwenningen
         Second Floor
         Hall 2
         Niedere Str. 94
         78050 Villingen-Schwenningen
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Christof Heil
         Niederen Tor 1
         78050 Villingen-Schwenningen
         Germany

The District Court of Villingen-Schwenningen opened bankruptcy
proceedings against Hermann Fleig GmbH on Feb. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Hermann Fleig GmbH
         Attn: Markus Wenzel, Manager
         Rietgasse 5
         78050 Villingen-Schwenningen
         Germany


HOBOVEB GMBH: Claims Registration Ends March 1
----------------------------------------------
Creditors of HOBOVEB GmbH have until March 1 to register their
claims with court-appointed insolvency manager Herbert Daigeler.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on March 28, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Noerdlingen
         Meeting Hall F/I
         Kaisheimer House
         Tandelmarkt 5
         Noerdlingen
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Herbert Daigeler
         Mangoldstrasse 4
         86650 Wemding
         Germany
         Tel: 09092/6711
         Fax: 09092/6320

The District Court of Noerdlingen opened bankruptcy proceedings
against HOBOVEB GmbH on Jan. 31.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         HOBOVEB GmbH
         Attn: Soultana Maiwald, Manager
         Oberglauheimer Str. 2
         89420 Hoechstädt
         Germany


KELLNER + MOESSNER: Claims Registration Ends February 20
--------------------------------------------------------
Creditors of Kellner + Moessner Universitätsbuchhandlung GmbH
have until Feb. 20 to register their claims with court-appointed
insolvency manager Christopher Seagon.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 3, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Karlsruhe
         First Floor
         Hall IV
         Schlossplatz 23
         Karlsruhe
         76131 Karlsruhe
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Christopher Seagon
         Blumenstr. 17
         69115 Heidelberg
         Germany
         Tel: (06221) 91180

The District Court of Karlsruhe opened bankruptcy proceedings
against Kellner + Moessner Universitätsbuchhandlung GmbH on
Feb. 1.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Kellner + Moessner Universitaetsbuchhandlung GmbH
         Attn: Eva Kellner, Manager
         Kaiserstr. 18
         76133 Karlsruhe
         Germany


LEMONSTYLE WERBE: Claims Registration Ends March 2
--------------------------------------------------
Creditors of lemonstyle Werbe- und Eventagentur GmbH have until
March 2 to register their claims with court-appointed insolvency
manager Joachim Exner.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on April 13, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Ansbach
         Ground Floor
         Meeting Room 1
         Promenade 8
         91522 Ansbach
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Joachim Exner
         Stahlstr. 17
         90411 Nuernberg
         Germany
         Tel: 0911/951285-0
         Fax: 0911/95128510

The District Court of Ansbach opened bankruptcy proceedings
against lemonstyle Werbe- und Eventagentur GmbH on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         lemonstyle Werbe- und Eventagentur GmbH
         Eisenbahnstr. 11 A
         91572 Bechhofen
         Germany


LUITPOLD KLINIKEN: Claims Registration Ends March 5
---------------------------------------------------
Creditors of Luitpold Kliniken Horst Grom GmbH + Co. KG have
until March 5 to register their claims with court-appointed
insolvency manager Bruno Fraas.

Creditors and other interested parties are encouraged to attend
the meeting at 2:20 p.m. on March 26, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Schweinfurt
         Meeting Room 121/I
         Schweinfurt
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Bruno Fraas
         Berliner Platz 6
         97080 Wuerzburg
         Germany
         Tel: 0931/359800

The District Court of Schweinfurt opened bankruptcy proceedings
against Luitpold Kliniken Horst Grom GmbH + Co. KG on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Luitpold Kliniken Horst Grom GmbH + Co. KG
         Bismarckstr. 24-38
         97688 Bad Kissingen
         Germany


MAGDEBURG GMBH: Creditors Must Register Claims by March 7
---------------------------------------------------------
Creditors of Magdeburg GmbH have until March 7 to register their
claims with court-appointed insolvency manager Thomas Kind.

Creditors and other interested parties are encouraged to attend
the meeting at 11:30 a.m. on April 18, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Karlsruhe
         Hall IV
         First Floor
         Schlossplatz 23
         76131 Karlsruhe
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Thomas Kind
         Eisenbahnstr. 19-23
         77855 Achern
         Germany
         Tel: (07 8 41) 70 80

The District Court of Karlsruhe opened bankruptcy proceedings
against Magdeburg GmbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Magdeburg GmbH
         Attn: Hans-Juergen Roes & Ursula Tacke, Managers
         Keplerstr. 3
         39104 Magdeburg
         Germany


MEDIZINISCHES VERSORGUNGSZENTRUM: Creditors' Claims Due March 1
---------------------------------------------------------------
Creditors of Medizinisches Versorgungszentrum Gensingen GmbH
have until March 1 to register their claims with court-appointed
insolvency manager Bardo M. Sigwart.

Creditors and other interested parties are encouraged to attend
the meeting at 10 a.m. on March 28, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Bingen am Rhein
         Hall 9
         Mainzer Strasse 52
         55411 Bingen am Rhein
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Bardo M. Sigwart
         Ahornweg 12
         55218 Ingelheim
         Germany
         Tel: 06132/88949
         Fax: 06132/896498

The District Court of Bingen am Rhein opened bankruptcy
proceedings against Medizinisches Versorgungszentrum Gensingen
GmbH on Feb. 1.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         Medizinisches Versorgungszentrum Gensingen GmbH
         Alzeyer Strasse 23
         55457 Gensingen
         Germany

         Attn: Stephan Kallenberg, Manager
         Neutorstr. 9
         55116 Mainz
         Germany


METZGEREI GREUBEL: Creditors Must Register Claims by February 23
----------------------------------------------------------------
Creditors of Metzgerei Greubel GmbH have until Feb. 23 to
register their claims with court-appointed insolvency manager
Erich Rahner.

Creditors and other interested parties are encouraged to attend
the meeting at 8:00 a.m. on March 28, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Bamberg
         Meeting Hall 031
         Synagogenplatz 1
         96047 Bamberg
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Erich Rahner
         Augustenstr. 20
         96047 Bamberg
         Tel: 0951/50987-0
         Fax: 0951/50987-50
         Germany

The District Court of Bamberg opened bankruptcy proceedings
against Metzgerei Greubel GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Metzgerei Greubel GmbH
         Zum Berg 2
         96188 Stettfeld
         Germany


MICHAEL JELITTO: Creditors Must Register Claims by March 2
----------------------------------------------------------
Creditors of Michael Jelitto GmbH have until March 2 to register
their claims with court-appointed insolvency manager
Volker Schneider.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on March 16, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Wuppertal
         Meeting Hall A234
         Second Floor
         Eiland 2
         42103 Wuppertal
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Volker Schneider
         Morianstrasse 3
         42103 Wuppertal
         Germany
         Tel: 0202/24 56 70
         Fax: 0202/24 56 722

The District Court of Wuppertal opened bankruptcy proceedings
against Michael Jelitto GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Michael Jelitto GmbH
         Herderstr. 19
         42579 Heiligenhaus
         Germany


M-PHASYS GMBH: Creditors Must Register Claims by March 2
--------------------------------------------------------
Creditors of M-phasys GmbH have until March 2 to register their
claims with court-appointed insolvency manager Klaus-Peter
Krueger.

Creditors and other interested parties are encouraged to attend
the meeting at 8:45 a.m. on April 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Tuebingen
         Hall 208
         Second Floor
         Branch Office
         Schulberg 14
         72074 Tuebingen
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Klaus-Peter Krueger
         Kaiserstrasse 56
         72764 Reutlingen
         Germany

The District Court of Tuebingen opened bankruptcy proceedings
against M-phasys GmbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         M-phasys GmbH
         Dr. Hans Kiefer, Manager
         Vor dem Kreuzberg 17
         72070 Tuebingen
         Germany


MSG HOSPITALITY: Creditors Must Register Claims by March 1
----------------------------------------------------------
Creditors of MSG Hospitality GmbH have until March 1 to register
their claims with court-appointed insolvency manager
Martin Manstein.

Creditors and other interested parties are encouraged to attend
the meeting at 1:30 a.m. on April 17, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Weilheim
         Meeting Hall E 020
         Weilheim
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Martin Manstein
         Prannerstr. 11
         80333 Munich
         Germany
         Tel: 089/21111500
         Fax: 089/21111555

The District Court of Weilheim opened bankruptcy proceedings
against MSG Hospitality GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         MSG Hospitality GmbH
         Assenbucher Str. 44
         82335 Berg
         Germany


MSP GMBH: Creditors Must Register Claims by March 5
---------------------------------------------------
Creditors of MSP GmbH & Co. KG have until March 5 to register
their claims with court-appointed insolvency manager Eugen
Nuxoll.

Creditors and other interested parties are encouraged to attend
the meeting at 8:00 a.m. on March 27, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Nordhorn
         Hall 42
         Seilerbahn 15
         48529 Nordhorn
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Eugen Nuxoll
         Luxkamp 25
         48529 Nordhorn
         Germany

The District Court of Nordhorn opened bankruptcy proceedings
against MSP GmbH & Co. KG on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         MSP GmbH & Co. KG
         Vennweg 16
         48529 Nordhorn
         Germany


NK KILICER: Claims Registration Ends March 6
--------------------------------------------
Creditors of NK Kilicer GmbH have until March 6 to register
their claims with court-appointed insolvency manager Harald
Hess.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 17, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Karlsruhe
         Hall IV
         First Floor
         Schlossplatz 23
         76131 Karlsruhe
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Harald Hess
         W.-Th.-Roemheld-Str. 14
         55130 Mainz
         Germany
         Tel: (06 1 31) 28 500

The District Court of Karlsruhe opened bankruptcy proceedings
against NK Kilicer GmbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         NK Kilicer GmbH
         Attn: Nihat Kilicer, Manager
         Jagerhausstr. 8a
         76139 Karlsruhe
         Germany


NORDLAND AUTOVERTRIEB: Claims Registration Ends March 9
-------------------------------------------------------
Creditors of Nordland Autovertrieb GmbH have until March 9 to
register their claims with court-appointed insolvency manager
Joerg Nerlich.

Creditors and other interested parties are encouraged to attend
the meeting at 8:50 a.m. on April 3, at which time the
insolvency manager 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
         Second Floor
         Isle 2
         42103 Wuppertal
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Joerg Nerlich
         Friedrich-Ebert-Str. 17
         42103 Wuppertal
         Germany
         Tel: 0202/40 86 150
         Fax: 0202/40 86 159

The District Court of Wuppertal opened bankruptcy proceedings
against Nordland Autovertrieb GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Nordland Autovertrieb GmbH
         Uellendahler Strasse 523
         42109 Wuppertal
         Germany

         Attn: Karl-Heinz Winter, Manager
         Kruppstrasse 216
         42113 Wuppertal
         Germany


NORDWACHT SICHERHEITSSCHULE: Claims Registration Ends Feb. 21
-------------------------------------------------------------
Creditors of Nordwacht Sicherheitsschule GmbH & Co. KG have
until Feb. 21 to register their claims with court-appointed
insolvency manager Jan H. Wilhelm.

Creditors and other interested parties are encouraged to attend
the meeting at 11:10 a.m. on March 14, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Flensburg
         Hall A 220
         Flensburg
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Jan H. Wilhelm
         Albert-Einstein-Ring 11
         22761 Hamburg
         Germany

The District Court of Flensburg opened bankruptcy proceedings
against Nordwacht Sicherheitsschule GmbH & Co. KG on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Nordwacht Sicherheitsschule GmbH & Co. KG
         Attn: Arno W. Boehnke, Manager
         Batteriestrasse 31
         24939 Flensburg
         Germany


NUR LOGISTIK: Claims Registration Ends March 5
----------------------------------------------
Creditors of NUR Logistik GmbH have until March 5 to register
their claims with court-appointed insolvency manager
Michael Fritz.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on April 5, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Villingen-Schwenningen
         Hall 2
         2nd Floor
         Niedere Str. 94
         78050 Villingen-Schwenningen
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Michael Fritz
         Max-Planck-Str. 11
         78052 Villingen-Schwenningen
         Germany

The District Court of Villingen-Schwenningen opened bankruptcy
proceedings against NUR Logistik GmbH on Feb. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         NUR Logistik GmbH
         Attn: Christa Yakici, Manager
         August-Fischbach-Str. 7
         78166 Donaueschingen-wird
         Germany


OPTIPLAN KUNSTSTOFFE: Claims Registration Ends February 28
----------------------------------------------------------
Creditors of OPTIPLAN Kunststoffe GmbH have until Feb. 28 to
register their claims with court-appointed insolvency manager
Wolfgang Hauser.

Creditors and other interested parties are encouraged to attend
the meeting at 11:15 a.m. on March 27, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Chemnitz
         Hall 27
         Fuerstenstrasse 21
         Chemnitz
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Wolfgang Hauser
         Poetenweg 36
         08056 Zwickau
         Germany
         Tel: (0375) 2736 60
         Fax: (0375) 2736 613

The District Court of Chemnitz opened bankruptcy proceedings
against OPTIPLAN Kunststoffe GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         OPTIPLAN Kunststoffe GmbH
         Attn: Michael Heider, Manager
         Am Johannisberg 13
         08606 Oelsnitz/Vogtland
         Germany


PFLEGEHEIME BUEHLER-SIEBER: Claims Registration Ends March 15
-------------------------------------------------------------
Creditors of Pflegeheime Buehler-Sieber GmbH & Co.KG have until
March 15 to register their claims with court-appointed
insolvency manager Ute Nayel.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 26, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Nuremberg
         Meeting Hall 152/I
         Flaschenhofstr. 35
         Nuremberg
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Ute Nayel
         Augustinerstr. 11
         90403 Nuernberg
         Germany
         Tel: 0911/214758-0
         Fax: 0911/214758-58

The District Court of Nuremberg opened bankruptcy proceedings
against Pflegeheime Buehler-Sieber GmbH & Co.KG on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Pflegeheime Buehler-Sieber GmbH & Co.KG
         Grabenstr. 8
         91217 Hersbruck
         Germany


PROFI TEAM: Claims Registration Ends March 2
--------------------------------------------
Creditors of Profi Team GmbH have until March 2 to register
their claims with court-appointed insolvency manager Ulrike Hoge
- Peters.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 2, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court Bad Homburg v.d. Hoehe
         Room 316
         Third Floor
         Auf der Steinkaut 10-12
         61352 Bad Homburg v.d. Hoehe
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Ulrike Hoge - Peters
         Cronstettenstrasse 30
         60322 Frankfurt am Main
         Tel: 069-9591100
         Fax: 069-95911012

The District Court of Bad Homburg v.d. Hoehe opened bankruptcy
proceedings against Profi Team GmbH on Feb. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Profi Team GmbH
         Untere Hainstrasse 4
         61440 Oberursel/Ts
         Germany

         Attn: Rudolf Zimmermann, Manager
         Kastanienstrasse 8a
         61476 Kronberg/Ts
         Germany


ROLLITOP GMBH: Claims Registration Ends March 8
-----------------------------------------------
Creditors of Rollitop GmbH have until March 8 to register their
claims with court-appointed insolvency manager
Siegfried Strautmann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on April 17, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Osnabrueck
         Branch N 301
         Kollegienwall 10
         49074 Osnabrueck
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Siegfried Strautmann
         Muensterstrasse 2
         D 49186 Bad Iburg
         Germany
         Tel: 05403/73060
         Fax: 05403/730618

The District Court of Osnabrueck opened bankruptcy proceedings
against Rollitop GmbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Rollitop GmbH
         Attn: Joachim Friedrich Brauner, Manager
         Brinkheide 80
         49214 Bad Rothenfelde
         Germany


SCHADLICH RUNDSTRICKEREI: Claims Registration Ends Feb. 26
----------------------------------------------------------
Creditors of W. Schadlich Rundstrickerei GmbH have until
Feb. 26, to register their claims with court-appointed
insolvency manager Dr. Elske Fehl.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on March 27, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Bayreuth
         Hall 520 - EG
         Friedrichstr. 18
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Elske Fehl
         Rothenburger Str. 241
         90439 Nürnberg
         Germany
         Tel: 0911600 010
         Tel: 0911/600 0110

The District Court of Bayreuth opened bankruptcy proceedings
against W. Schädlich Rundstrickerei GmbH on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         W. Schädlich Rundstrickerei GmbH
         Ringstr. 1
         91289 Schnabelwaid
         Germany

         Attn: Wolfgang Schadlich, Manager
         Ringstr. 5
         91289 Schnabelwaid
         Germany


SCHLUSSELHAUS WEDEL: Claims Registration Period Ends March 19
-------------------------------------------------------------
Creditors of Schlusselhaus Wedel GmbH have until March 19 to
register their claims with court-appointed insolvency manager
Hendrik Rogge.

Creditors and other interested parties are encouraged to attend
the meeting at 10:10 a.m. on Apr. 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Pinneberg
         Hall 5
         First Floor
         Station Route 17
         25421 Pinneberg
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Hendrik Rogge
         Albert-Einstein-Ring 15
         761 Hamburg
         Germany

The District Court of Pinneberg opened bankruptcy proceedings
against Schlusselhaus Wedel GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Schlusselhaus Wedel GmbH
         Kronskamp 19-21
         22880 Wedel
         Germany


SCHULTE HOLDING: Claims Registration Period Ends March 15
---------------------------------------------------------
Creditors of Schulte Holding AG have until March 15 to register
their claims with court-appointed insolvency manager Rolf Otto
Neukirchen.

Creditors and other interested parties are encouraged to attend
the meeting at 2:00 p.m. on Apr. 5, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Essen
         Meeting Hall 293
         Second Floor
         Zweigertstr. 52
         45130 Essen
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Rolf Otto Neukirchen
         Zweigertstr. 28-30
         45130 Essen
         Tel: (0201) 438740

The District Court of Essen opened bankruptcy proceedings
against Schulte Holding AG on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Schulte Holding AG
         Ruhrallee 175
         45136 Essen
         Germany


SECTEC: Claims Registration Period Ends March 8
-----------------------------------------------
Creditors of Sectec Gmbh have until March 8 to register their
claims with court-appointed insolvency manager Dr. Jan Markus
Plathner.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Apr. 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Darmstadt
         Hall 4.307
         Fourth Floor
         Building D
         Mathildenplatz 15
         64283 Darmstadt
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Jan Markus Plathner
         Lyoner Strasse 14
         60528 Frankfurt
         Tel: 069/962334-0
         Fax: 069/962334-22
         E-Mail: m.plathner@brinkmann-partner.de

The District Court of Darmstadt opened bankruptcy proceedings
against Sectec Gmbh on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Sectec Gmbh
         Attn: Peter Basler. Manager
         Stahlstrasse 34
         65428 Russelsheim
         Germany


SK INDUSTRIE: Claims Registration Period Ends March 14
------------------------------------------------------
Creditors of SK Industrie- und Anlagentechnik GmbH have until
March 14 to register their claims with court-appointed
insolvency manager Vereidigter Buchprüfer und Steuerberater
Wolfgang Lorisch.

Creditors and other interested parties are encouraged to attend
the meeting at 8:35 a.m. on Apr. 17, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Bochum
         Hall A29
         Ground Floor
         Main Building
         Viktoriastrasse 14
         44787 Bochum
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Vereidigter Buchprüfer und
         Steuerberater Wolfgang Lorisch
         Kurt-Schumacher-Strasse 48
         45699 Herten
         Germany

The District Court of Bochum opened bankruptcy proceedings
against SK Industrie- und Anlagentechnik GmbH on Jan. 31.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         SK Industrie- und Anlagentechnik GmbH
         Attn. Karlheinz Kappel
         Karlstrasse 2 F
         45739 Oer-Erkenschwick
         Germany


STEINHAUS GASTRONOMIE: Claims Registration Period Ends March 2
---------------------------------------------------------------
Creditors of Steinhaus Gastronomie Gmbh have until March 2 to
register their claims with court-appointed insolvency manager
Holger Rhode.

Creditors and other interested parties are encouraged to attend
the meeting at 9:25 a.m. on March 22, at which time the
insolvency manager 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
         Second Floor
         Isle 2
         42103 Wuppertal
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Holger Rhode
         Friedrich-Ebert-Strasse 17
         42103 Wuppertal
         Germany
         Tel: 0202/4086150
         Fax: 0202/4086159

The District Court of Wuppertal opened bankruptcy proceedings
against Steinhaus Gastronomie Gmbh on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Steinhaus Gastronomie Gmbh
         Konrad-Adenauer-Str. 72-74
         42657 Solingen
         Germany


STORMARN PLASTIC: Claims Registration Period Ends March 13
----------------------------------------------------------
Creditors of Stormarn Plastic GmbH have until March 13 to
register their claims with court-appointed insolvency manager
Berthold Brinkmann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on Apr. 24, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Reinbek
         Parkallee 6
         21465 Reinbek
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Berthold Brinkmann
         Sechslingspforte 2
         22087 Hamburg
         Germany

The District Court of Reinbek opened bankruptcy proceedings
against Stormarn Plastic GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Stormarn Plastic GmbH
         Stefan Will
         Roegen 44 - 46
         23843 Bad Oldesloe
         Germany


TTE GERMANY: Claims Registration Ends March 3
---------------------------------------------
Creditors of TTE Germany GmbH have until March 3 to register
their claims with court-appointed insolvency manager Wolfgang
Hauser.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on March 29, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Villingen-Schwenningen
         Hall 2/2.OG
         Niedere Str. 94
         78050 Villingen-Schwenningen
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Wolfgang Hauser
         Moehringer Landstr. 5
         70563 Stuttgart
         Germany

The District Court of Villingen-Schwenningen opened bankruptcy
proceedings against TTE Germany GmbH on Feb. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         TTE Germany GmbH
         Attn: Kenneth Xiaoping Zhang, Manager
         Hermann-Schwer-Str. 3
         78048 Villingen-Schwenningen
         Germany


TUI AG: Moody's Downgrades Ba3 Corporate Family Rating to B1
------------------------------------------------------------
Moody's Investors Service downgraded the corporate family rating
of TUI Aktiengesellschaft to B1 from Ba3, the long-term senior
unsecured rating to B1 from Ba3 and the subordinated debt rating
to B3 from B2.

These downgrades follow Moody's assessment of the company's
strategic plan announced on Dec. 15, 2006, and conclude the
review for possible downgrade that was initiated on Aug. 11,
2006, and that was maintained following the downgrades announced
on Nov. 9, 2006.  The outlook on all ratings is now stable.

The downgrade of the corporate family rating primarily reflects
Moody's view that the expected medium-term improvements in the
company's credit metrics will not be sufficient to support a Ba3
rating given the company's strategy to pursue a growth strategy
in its two core businesses.

TUI's B1 corporate family rating factors in the company's
leading market position in European tourism.  The rating factors
in the division's highly seasonal nature, and low margin
characteristics, as it accounted for 70% of revenues, but only
contributed circa 45% to the group's EBITA in 2005.  Finally,
Moody's notes that TUI's vertically integrated model faces
growing competition on the internet, which offers a flexible
platform to customers that prefer to book modular holidays
without needing to go through a traditional travel agency.

The corporate family rating additionally factors in the
diversification provided by Hapag-Lloyd, TUI's container
shipping arm, which is the fifth-largest container shipping
company globally as a result of the CP Ships acquisition in
2005.  However, notwithstanding the anticipated synergies from
the merger with CP Ships, which integration is almost completed,
Moody's notes that the shipping division's margin was hit in
2006 by the integration costs of CP Ships and high bunker costs
and inland expenses combined with lower than initially expected
freight rates, leading to an expected reported loss for the full
year 2006.  Moody's additionally notes that capacity-demand
balance could be adversely impacted by an increase in the
overall number of new ships in the intermediate term.

More generally, the B1 rating factors in the impact of the
company's growth strategy in its two main businesses, as
unveiled in December 2006, with TUI adding more capacity in
hotels, aircraft and ships.  While over the past few years, the
disposal of non-core assets contributed to the company's ability
to repay debt and finance its capital expenditure program, the
disposal program has now been completed and going forward the
group will have to rely on its internally generated cash flow to
finance this growth, while at the same time continuing the debt
reduction program announced on Dec. 15, 2006.  In this respect,
Moody's notes that, notwithstanding the announced sale of the
Montreal terminal, part of TUI's EUR1 billion asset sale program
unveiled in December 2006 consists of sale and lease-back
transactions, which will reduce asset coverage and be broadly
neutral in terms of credit metrics.

The stable rating outlook is based on Moody's anticipation that
TUI's credit metrics will improve to position the credit more
comfortably in line with the B1 rating category on a sustainable
basis, with retained cash flow to net debt above 10% and debt to
EBITDA below 6x by FY2008.  The stable outlook also factors in a
satisfactory liquidity situation, partly driven by the access to
a syndicated facility, which contains covenants.  Moody's
expects the leeway to remain sufficient over the short term.

The rating agency notes that TUI has increasingly centralized
debt at the TUI AG level over the recent past, hence reducing
the amount of priority indebtedness within the group below 20%.
Moody's also believes that the planned merger by the end of the
current fiscal year of TUI AG and TUI Deutschland GmbH, an
operating company based in Germany should to a certain extent
further reduce structural subordination.  Moreover, when Moody's
applies its European Loss Given Default methodology after
March 19 it is anticipated that the current notching of the
relative debt instruments within the TUI capital structure will
remain unchanged.

The most recent rating action on TUI took place on Nov. 9, 2006,
when Moody's downgraded the company's corporate family and
senior unsecured ratings to Ba3 from Ba2 and the subordinated
debt rating to B2 from B1.

TUI Aktiengesellschaft is Europe's largest integrated tourism
group and a leading provider of container shipping services,
with sales of EUR18.2 billion in 2005.


WEKA BAU: Claims Registration Ends March 9
------------------------------------------
Creditors of Weka Bau GmbH have until March 9 to register their
claims with court-appointed insolvency manager Dr. Joerg
Nehrlich.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on March 23, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Bad Neuenahr-Ahrweiler
         Hall 4
         Wilhelmstrasse 55 -57
         53474 Bad Neuenahr-Ahrweiler
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Joerg Nehrlich
         Aachener Str. 563-565
         50933 Cologne
         Germany
         Tel: 0221/9408030
         Fax: 0221/9408039

The District Court of Bad Neuenahr-Ahrweiler opened bankruptcy
proceedings against Weka Bau GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Weka Bau GmbH
         Attn: H. Heinrich Weitzels, Manager
         Hostertweg 22-24
         53501 Grafschaft-Karweiler
         Germany


WERBE + LOGISTIK: Claims Registration Ends March 9
--------------------------------------------------
Creditors of werbe + logistik GmbH have until March 9 to
register their claims with court-appointed insolvency manager
Tibor Braun.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on April 26, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Esslingen
         Festival Hall
         Quadrium Convention Center
         Kirchheimer Str. 68
         73249 Wernau
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Tibor Braun
         Kriegerstr. 3
         70197 Stuttgart
         Germany
         Tel: 0711/225583-0
         Fax: 0711/225583-20

The District Court of Esslingen opened bankruptcy proceedings
against werbe + logistik GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         werbe + logistik GmbH
         Attn: Gerhard Kaiser, Manager
         Antoniusstr. 21-23
         73249 Wernau - Gegenstand
         Germany


ZWEIRAD ROETH: Claims Registration Period Ends March 1
------------------------------------------------------
Creditors of Zweirad Roeth GmbH have until March 1 to register
their claims with court-appointed insolvency manager Sylvia
Rhein.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Apr. 12, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Darmstadt
         Hall 4.312
         Fourth Floor
         Building D
         Mathildenplatz 15
         64283 Darmstadt
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Sylvia Rhein
         Walther-Rathenau-Str. 24
         64646 Heppenheim
         Tel: 06252/6877-0
         Fax: 06252/6877-11

The District Court of Darmstadt opened bankruptcy proceedings
against Zweirad Roth GmbH on Feb.2.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Zweirad Roth GmbH
         Schulstr. 6
         64689 Grasellenbach-Hammelbach
         Germany

         Attn: Fritz Roth Unterer
         Hilsigweg 6
         64689 Grasellenbach
         Germany


=========
I T A L Y
=========


PARMALAT SPA: Sells Parma AC to Tommaso Ghirardi for EUR30 Mln
--------------------------------------------------------------
Parmalat S.p.A. has sold soccer club Parma AC to a consortium
led by Tommaso Ghirardi for EUR30 million, Reuters says.

In a TCR-Europe report on Jan. 10, Parmalat called for non-
binding offers indicating how much capital potential buyers are
willing to inject to "reinforce the team's financial structure
and guarantee its competitiveness."  Parmalat set an initial
price of EUR4 million.

The Italian Ministry for Economic Development has approved the
sale, which transfers the club's ownership from Parmalat to the
consortium of Mr. Ghirardi, Angelo Meneghini and Banca Monte di
Parma.  Parma AC has been in temporary administration since
Parmalat's multi-billion euro collapse in December 2003.

"We believe in the sport and we believe we can operate well,"
Mr. Ghirardi told the Associated Press.  "We're not just passing
by.  We want to give a lot to Parma and Italian soccer."

Two-time UEFA Cup champion Parma AC is currently third from
bottom in the Serie A division with 15 points.  The team is
trying to avoid relegation by not landing at the bottom three.

                         About Parmalat

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that
can be stored at room temperature for months.  It also has 40-
some brand product line, which includes yogurt, cheese, butter,
cakes and cookies, breads, pizza, snack foods and vegetable
sauces, soups and juices.

The Company's U.S. operations filed for chapter 11 protection on
Feb. 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
for bankruptcy protection, they reported more than
US$200 million in assets and debts.  The U.S. Debtors emerged
from bankruptcy on April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on Dec. 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the
Cayman Islands.  Gordon I. MacRae and James Cleaver of Kroll
(Cayman) Ltd. serve as Joint Provisional Liquidators in the
cases.  On Jan. 20, 2004, the Liquidators filed Sec. 304
petition, Case No. 04-10362, in the United States Bankruptcy
Court for the Southern District of New York.  In May 2006, the
Cayman Island Court appointed Messrs. MacRae and Cleaver as
Joint Official Liquidators.  Gregory M. Petrick, Esq., at
Cadwalader, Wickersham & Taft LLP, and Richard I. Janvey, Esq.,
at Janvey, Gordon, Herlands Randolph, represent the Finance
Companies in the Sec. 304 case.

The Honorable Robert D. Drain presides over the Parmalat
Debtors' U.S. cases.


===================
K A Z A K H S T A N
===================


BATYR LLP: Creditors Must File Claims by March 23
-------------------------------------------------
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Batyr insolvent.

Creditors have until March 23 to submit written proofs of claim
to:

         The Specialized Inter-Regional Economic Court of
         Kostanai
         Room 40
         Taran Str. 85
         Kostanai
         Kazakhstan
         Tel: 8 (3142) 54-28-39


DARHAN-RISE LLP: Creditors' Claims Due March 23
-----------------------------------------------
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Darhan-Rise insolvent.

Creditors have until March 23 to submit written proofs of claim
to:

         The Specialized Inter-Regional Economic Court of
         Kostanai
         Room 40
         Taran Str. 85
         Kostanai
         Kazakhstan
         Tel: 8 (3142) 54-28-39


DDP-TRANS LLP: Proof of Claim Deadline Slated for March 23
----------------------------------------------------------
LLP Trade House Ddp-Trans has declared insolvency.  Creditors
have until March 23 to submit written proofs of claim to:

         LLP Trade House Ddp-Trans
         Mir ave. 17-12
         Jezkazgan
         Karaganda
         Kazakhstan


KAZKOMMERTSBANK: Dual Bond Issue Sets New Borrowing Standards
-------------------------------------------------------------
JSC Kazkommertsbank's recent Dual Tranche Bond Issue on
Feb. 2 set new records for Kazakh debt issues in terms of the
length of the borrowing periods.

The response to the new issues demonstrates the strength of
confidence and the depth of interest in the Kazakh market among
international investors.

Kazkommertsbank's EUR750 million 10-year benchmark deal with a
coupon of 6.875% was priced at 99.227%, representing the longest
tenor ever achieved in Euro by a Kazakh borrower.  Book-building
of this issue commenced on Jan. 31 and the demand for the deal
resulted in a three billion order book with more than 240
accounts participating.

Good distribution was achieved by investor type with solid
participation of asset managers via this Euro benchmark deal for
Kazkommertsbank.  Importantly Kazkommertsbank expanded and
enhanced its Euro investor base via this 10-year benchmark as it
had full supervision over allocations on the order book in
collaboration with syndicates of Joint Lead Managers.

The Euro issue was distributed 37% to funds, 30% to banks, 14%
to hedge funds and 11% to insurance companies.  Geographically
the Euro issue was distributed 45% to the U.K., 13% to the US,
1% to Asia and 31% to other Western European countries.

Kazkommertsbank's debut GBP350 million five-year deal with a
coupon of 7.625% was priced at 99.962%, representing both the
biggest size and longest tenor ever achieved in Sterling by a
Kazakh borrower.  Bookbuilding of this issue commenced on Feb. 1
and the overwhelming demand for the deal resulted in a sizeable
GBP850 million order book with 91 accounts participating.

In order to accommodate tremendous investor interest from
traditional Sterling investors, KKB extended the U.K. portion of
the roadshow to two days in London and one day in Edinburgh.
Overall, the KKB Sterling bond drew over 80% of new investors to
the KKB name, and thus represented valuable investor
diversification at virtually no additional cost to KKB's
traditional funding base.

The GBP issue was distributed 68% to funds, 11% to banks, 7% to
hedge funds and 9% to insurance companies.  The geographical
distribution was 88% to the U.K. and 6% to the US.

Issues were assigned credit ratings BB+ by international rating
agencies Standard & Poor's and Fitch.

Established in 1990, Kazkommertsbank is one of the leading banks
in Kazakhstan.  As at June 30, 2006, it was the market leader as
measured by total assets and loans and third largest in terms of
deposits.  The Bank has a network of 22 full-service branches
and 68 outlets in Kazakhstan.  In addition, the Bank has a well-
developed alternative channel distribution network including
Internet banking, 454 ATMs, over 3,200 point-of-sale terminals
and a call center.

With a gross corporate loan portfolio of KZT837.3 billion and
deposits of KZT204.97 billion as of June 30, 2006,
Kazkommertsbank is the largest corporate lender in Kazakhstan.
In addition, the Bank also has a strong retail business and
believes that it is the leading bank in Kazakhstan servicing
high net-worth individuals.  As at June 30, 2006, the Bank had
approximately 253,000 retail customers, a gross retail loan
portfolio of KZT129.14 billion and retail deposits of
KZT128.87 billion.

In addition to corporate, SME and retail banking services, the
Bank engages in treasury operations, investment banking,
brokerage services and asset management and is a major
participant in the securities markets and the foreign currency
markets in Kazakhstan.  Through its international subsidiaries,
KKB also provides corporate, SME and retail banking services in
Russia and Kyrgyzstan.

The bank has a number of subsidiaries, including two in
Kazakhstan: Kazkommerts Securities and Kazkommertspolicy 2000;
three in the Netherlands: Kazkommerts International B.V.,
Kazkommerts Capital-2 B.V. and Kazkommerts Finance-2 B.V., and
one in Kyrgyzstan: Kazkommertsbank Kyrgyzstan.


                          *     *     *

As of Feb. 12, Kazkommertsbank carry these ratings:

   * Moody's Investors Service:

      -- Foreign Long-Term Bank Deposits: Ba1
      -- Bank Financial Strength: D
      -- Outlook: Stable

   * Standard & Poor's Ratings Services:

      -- Long-Term Foreign Issuer Credit: BB+
      -- Long-Term Local Issuer Credit: BB+
      -- Short-Term Foreign Issuer Credit: B
      -- Short-Term Local Issuer Credit: B
      -- Outlook: Stable

   * Fitch Ratings:

      -- Long-Term Foreign Currency Issuer Default: BB+
      -- Senior Unsecured Debt: BB+
      -- Subordinated Debt: BB
      -- Short Term: B
      -- Short-Term Foreign Currency Default: B
      -- Individual Rating: C/D
      -- Outlook: Positive


KAZKOMMERTSBANK: To Buy 52.11% Stake in CB Moskommertsbank
----------------------------------------------------------
Kazkommertsbank JSC intends to acquire an equity stake of 52.11%
in the Russian CB Moskommertsbank.  The Bank will be granted the
remaining 47.89% of equity for trust management.

With this transaction, Kazkommertsbank secures 100% control of
CB Moskommertsbank OOO, which has been consolidated in its
financial statements as of year-end 2003 as a result of the
trust management arrangement in place since that date.

This transaction is subject to approval by the Federal
Antimonopoly Service and the Head Territorial Division of Moscow
of the Bank of Russia.  Kazkommertsbank received approval for
the acquisition from the Agency on Supervision and Control of
Financial Market and Financial Organizations of the Republic of
Kazakhstan in 2004.

"Moskommertsbank has been a valuable strategic partner to
Kazkommertsbank in Russia since 2002," Lyubov Altukhova,
Director of CIS Financial Institutions of Kazkommertsbank,
commented.  "This step is in line with our strategy of
strengthening our presence in this market with the aim of
providing superior service to our corporate clients including
those with business ties to Russia."

                      About Moskommertsbank

Established in 2001, CB Moskommertsbank is a strategic partner
to JSC Kazkommertsbank in Russia.  Since 2003, the Bank has
prepared its financial statements according to IFRS.  In June
2005, Moskommertsbank became a member of the Russian deposits
insurance system.  At end-2006 Moskommertsbank outstripped
leading mortgage banks by the volume of loans provided with a
loan portfolio over US$500 million.  Moskommertsbank's new loan
portfolio of US$896 million consists of US$320 million of
corporate loans and US$576 million of retail loans.  The Bank
has six branches in Moscow, six branches in Saint-Petersburg,
one branch in Volgograd and a representative office in
Kaliningrad.

                      About Kazkommertsbank

Established in 1990, Kazkommertsbank is one of the leading banks
in Kazakhstan.  As at June 30, 2006, it was the market leader as
measured by total assets and loans and third largest in terms of
deposits.  The Bank has a network of 22 full-service branches
and 68 outlets in Kazakhstan.  In addition, the Bank has a well-
developed alternative channel distribution network including
Internet banking, 454 ATMs, over 3,200 point-of-sale terminals
and a call center.

With a gross corporate loan portfolio of KZT837.3 billion and
deposits of KZT204.97 billion as of June 30, 2006,
Kazkommertsbank is the largest corporate lender in Kazakhstan.
In addition, the Bank also has a strong retail business and
believes that it is the leading bank in Kazakhstan servicing
high net-worth individuals.  As at June 30, 2006, the Bank had
approximately 253,000 retail customers, a gross retail loan
portfolio of KZT129.14 billion and retail deposits of
KZT128.87 billion.

In addition to corporate, SME and retail banking services, the
Bank engages in treasury operations, investment banking,
brokerage services and asset management and is a major
participant in the securities markets and the foreign currency
markets in Kazakhstan.  Through its international subsidiaries,
KKB also provides corporate, SME and retail banking services in
Russia and Kyrgyzstan.

The bank has a number of subsidiaries, including two in
Kazakhstan: Kazkommerts Securities and Kazkommertspolicy 2000;
three in the Netherlands: Kazkommerts International B.V.,
Kazkommerts Capital-2 B.V. and Kazkommerts Finance-2 B.V., and
one in Kyrgyzstan: Kazkommertsbank Kyrgyzstan.


                          *     *     *

As of Feb. 12, Kazkommertsbank carry these ratings:

   * Moody's Investors Service:

      -- Foreign Long-Term Bank Deposits: Ba1
      -- Bank Financial Strength: D
      -- Outlook: Stable

   * Standard & Poor's Ratings Services:

      -- Long-Term Foreign Issuer Credit: BB+
      -- Long-Term Local Issuer Credit: BB+
      -- Short-Term Foreign Issuer Credit: B
      -- Short-Term Local Issuer Credit: B
      -- Outlook: Stable

   * Fitch Ratings:

      -- Long-Term Foreign Currency Issuer Default: BB+
      -- Senior Unsecured Debt: BB+
      -- Subordinated Debt: BB
      -- Short Term: B
      -- Short-Term Foreign Currency Default: B
      -- Individual Rating: C/D
      -- Outlook: Positive


KLEVE LLP: Claims Registration Ends March 16
--------------------------------------------
The Specialized Inter-Regional Economic Court of Kostanai Region
has declared LLP Kleve insolvent.

Creditors have until March 16 to submit written proofs of claim
to:

         The Specialized Inter-Regional Economic Court of
         Kostanai Region
         Mayakovsky Str. 123-22
         Kostanai
         Kazakhstan


MAK NAR: Claims Filing Period Ends March 23
-------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region has declared LLP Mak Nar Ja insolvent.

Creditors have until March 23 to submit written proofs of claim
to:

         Tax Committee of South Kazakhstan Region
         Shymkent
         South Kazakhstan Region
         Kazakhstan


SAPA LLP: Creditors Must File Claims by March 23
------------------------------------------------
LLP Sapa Group has declared insolvency.  Creditors have until
March 23 to submit written proofs of claim to:

         LLP Sapa Group
         Korkyt ata Str. 5
         Shymkent
         South Kazakhstan Region
         Kazakhstan


STROY-TECHNO LLP: Creditors' Claims Due March 23
------------------------------------------------
LLP Stroy-Techno has declared insolvency.  Creditors have until
March 23 to submit written proofs of claim to:

         LLP Stroy-Techno
         Office 1
         Gumilev Str. 5
         Astana
         Kazakhstan
         Tel: 8 (3172) 22-14-51


TECHNOSTROYSERVICE LLP: Creditors Must File Claims by March 23
--------------------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region has declared LLP Technostroyservice insolvent.

Creditors have until March 23 to submit written proofs of claim
to:

         Tax Committee on South Kazakhstan Region
         Shymkent
         South Kazakhstan Region
         Kazakhstan


TUMEN-RESOURCE LLP: Claims Registration Ends March 23
-----------------------------------------------------
LLP Joint Enterprise Tumen-Resource has declared insolvency.
Creditors have until March 23 to submit written proofs of claim
to:

         LLP Joint Enterprise Tumen-Resource
         Buketov Str. 3-77
         Petropavlovsk
         North Kazakhstan Region
         Kazakhstan


VITCOMINFORM LLP: Claims Filing Period Ends March 23
----------------------------------------------------
LLP Vitcominform has declared insolvency.  Creditors have until
March 23 to submit written proofs of claim to:

         LLP Vitcominform
         Office 115
         Tatibekov Str. 103a
         Almaty
         Kazakhstan1


===================
K Y R G Y Z S T A N
===================


TEMIRLAN OJSC: Claims Filing Period Ends March 20
-------------------------------------------------
OJSC Temirlan has declared insolvency.  Creditors have until
March 20 to submit written proofs of claim.

Inquiries can be addressed to (0-502) 29-21-41.


===================
L U X E M B O U R G
===================


DANA CORP: U.S. Trustee Disbands Equity Committee
-------------------------------------------------
Diana G. Adams, the Acting United States Trustee for Region 2,
has disbanded the Official Committee of Equity Security Holders,
effective Feb. 9, 2007, due to the resignation of two of the
three members of the Equity Committee, appointed on June 27,
2006, in Dana Corp. and its debtor-affiliates' chapter 11 cases.

                          About Dana Corp.

Toledo, Ohio-based Dana Corp. -- http://www.dana.com/-- designs
and manufactures products for every major vehicle producer in
the world, and supplies drivetrain, chassis, structural, and
engine technologies to those companies.  Dana employs 46,000
people in 28 countries.  Dana is focused on being an essential
partner to automotive, commercial, and off-highway vehicle
customers, which collectively produce more than 60 million
vehicles annually.  Dana has facilities in China, Argentina,
Italy, and Luxembourg.

The company and its affiliates filed for chapter 11 protection
on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  As of
Sept. 30, 2005, the Debtors listed US$7,900,000,000 in total
assets and  US$6,800,000,000 in total debts.

Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day,
in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq.,
Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in
Cleveland, Ohio, represent the Debtors.  Henry S. Miller at
Miller Buckfire & Co., LLC, serves as the Debtors' financial
advisor and investment banker.  Ted Stenger from AlixPartners
serves as Dana's Chief Restructuring Officer.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel
LLP, represents the Official Committee of Unsecured Creditors.
Fried, Frank, Harris, Shriver & Jacobson, LLP serves as counsel
to the Official Committee of Equity Security Holders.  Stahl
Cowen Crowley, LLC serves as counsel to the Official Committee
of Non-Union Retirees.

The Debtors' exclusive period to file a plan expires on Sept. 3,
2007.  They have until Nov. 2, 2007, to solicit acceptances of
that plan.


=============
R O M A N I A
=============


RULMENTUL BRASOV: Government Reschedules Insolvency Proceedings
---------------------------------------------------------------
Romania's Ministry of Justice on Feb. 7 rescheduled the
insolvency proceedings for Tractorul UTB SA, Rulmentul Brasov
Romania, and Nitramonia SA Fagaras, BURSA Online reports.

Employees stand to receive two compensatory salaries in this
situation, BURSA states.

                         About Tractorul

Based in Brasov, Romania, Tractorul UTB SA -- http://www.utb.ro/
-- manufactures industrial and farming tractors, spare parts,
engines, and components.  It posted sales of ROL42 billion
(EUR1.2 million) and has 18,300 employees according to its Web
site.

                        About Nitramonia

Located in Fagaras, Romania, Nitramonia SA Fagaras --
http://www.nitramonia.ro/-- was set up to provide large
quantities of explosives used in the extractive industry in
Transylvania.  Today the company manufactures chemical
fertilizers, inorganic salts, phenol-formaldehyde resins,
organic intermediates, and industrial explosives.

                        About Rulmentul

Headquartered in Brasov, Romania, Rulmentul Brasov Romania --
http://www.rulmentul.ro/-- is engaged in the manufacturing and
trading of rolling bearings, as well as specific-machine tools
and equipment that include super finishing machine tools for
ball and roller bearings, cold forming machine tools for ball
and rivet cold extrusion, and machine-tools for ball processing.

Rulmentul reported a net loss of ROL39.4 million in 2005 and a
ROL2.0 million net loss in 2004.


===========
R U S S I A
===========


ASKO CJSC: Creditors Must File Claims by February 20
----------------------------------------------------
Creditors on CJSC Tverskaya Insurance Company Asko have until
Feb. 20 to submit written proofs of claim to:

         D. Izotov, Insolvency Manager
         Sovetskaya Str. 25
         170100 Tver
         Russia

The Arbitration Court of Tver commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A66-7422/2006.

The Court is located at:

         The Arbitration Court of Tver
         Room 7
         Sovetskaya Str. 23b
         Tver
         Russia

The Debtor can be reached at:

         CJSC Tverskaya Insurance Company Asko
         Trekhvyatskaya 24
         Tver
         Russia


BALTIC-CENTRE LLC: Creditors Must File Claims by February 20
------------------------------------------------------------
Creditors on LLC Baltic-Centre have until Feb. 20 to submit
written proofs of claim to:

         A. Kubasov, Insolvency Manager
         Office ROSAU
         Krasnoznamennaya Str. 9
         111250 Moscow
         Russia

The Arbitration Court of Moscow commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A41-K2-19097/06.

The Court is located at:

         The Arbitration Court of Moscow
         Novaya Basmannaya Str. 10
         Moscow
         Russia

The Debtor can be reached at:

         LLC Baltic-Centre
         Parkovaya Str. 12
         Krasnoznamensk
         Moscow
         Russia


BRIKOM CJSC: Creditors Must File Claims by February 20
------------------------------------------------------
Creditors on CJSC Brikom have until Feb. 20 to submit written
proofs of claim to:

         S. Dyubin, Insolvency Manager
         Post User Box 952
         Chita-centre
         672000 Chita
         Russia

The Arbitration Court of Chita commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A78-7094/2006 B-810.

The Debtor can be reached at:

         CJSC Brikom
         Anokhina Str. 52
         Chita
         Russia


CONTINENT LLC: Omsk Bankruptcy Hearing Slated for May 15
--------------------------------------------------------
The Arbitration Court of Omsk will convene on May 15 to hear the
bankruptcy supervision procedure on LLC Company Continent.  The
case is docketed under Case No. A46-18150/2006.

The Temporary Insolvency Manager is:

         A. Lyasman, Temporary Insolvency Manager
         Kujbysheva Str. 81-103
         644010 Omsk
         Russia

The Debtor can be reached at:

         LLC Company Continent
         Maslenikova Str. 26
         644010 Omsk
         Russia


FLAX OJSC: Creditors Must File Claims by February 20
----------------------------------------------------
Creditors on OJSC Flax have until Feb. 20 to submit written
proofs of claim to:

         V. Klubov, Insolvency Manager
         Post User Box 38
         Kaduy
         162510 Vologda
         Russia

The Arbitration Court of Vologda commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A13-8277/2006-22.

The Court is located at:

         The Arbitration Court of Vologda
         Hall 4
         Gertsena Str. 1a
         Vologda
         Russia

The Debtor can be reached at:

         OJSC Flax
         Babaevskiy
         Vologda
         Russia


FUNDSERVICEBANK: Moody's Assigns E+ Financial Strength Rating
-------------------------------------------------------------
Moody's Investors Service assigned these global scale ratings
with stable outlook to the Russian institution Fundservicebank:

   -- B2 long-term and Not-Prime short-term foreign and local
      currency deposit ratings; and

   -- E+ financial strength rating.

At the same time, Moody's Interfax Rating Agency has assigned a
Baa1.ru long-term national scale credit rating to the bank.
Moscow-based Moody's Interfax is majority-owned by Moody's, a
leading global rating agency.

According to Moody's and Moody's Interfax, the B2/NP/E+ global
scale ratings reflect global default and loss expectation, while
the Baa1.ru national scale rating reflects the standing of the
bank's credit quality relative to its domestic peers.

FSB's ratings are underpinned by the bank's entrenched and so
far largely unthreatened niche franchise in its core market of
the Russian space and aviation industries, which allows for
continuous high-margin operations in this lucrative sector with
high entry barriers.  Being one of the very few privately-held
Russian banks that were allowed to, and are able to, operate in
those state-controlled and heavily state-regulated markets, FSB
has developed distinctive expertise and built up valuable client
relationships which support its corporate franchise.

The ratings also reflect FSB's experienced customer-oriented
management, which has adopted a diligent approach to IT systems
and information security.  The rating agency notes that FSB's
selective business diversification outside its core customer
franchise, which is currently underway, could make the bank's
earnings profile less susceptible to potential swings in the
financial condition of just one economic sector.

However, the ratings assigned to FSB are constrained by its poor
capitalization, potential vulnerability to political risks and
corporate governance issues. Growing competition from state-
owned Russian banks, such as VTB and Sberbank, might also
represent a threat over the medium term as those banks have
greater resources to satisfy the financial needs of FSB's large
corporate clients.  Finally, according to Moody's, FSB's high
level of single-party and industry concentrations on both sides
of the balance sheet does not appear commensurate with an FSR
above the E+ level.

The B2/NP deposit ratings assigned to FSB do not impute any
external support.  Although liquidity support from the bank's
key corporate clients is not unlikely, their ability and
willingness to provide financial means for a potential re-
capitalization of the bank in the event of need cannot be
assured.  In Moody's view the ability of the bank's beneficial
owner to provide capital support for the bank is very limited.

FSB is headquartered in Moscow, Russian Federation.  As at year-
end 2005, the bank reported audited total assets of US$356
million under IFRS.  FSB ranked 109th by assets and 151st by
regulatory capital among Russian banks as of Oct. 1, 2006,
according to Interfax.


KHIMIBOR CJSC: Creditors Must File Claims by February 20
--------------------------------------------------------
Creditors on CJSC Trading House Khimibor (TIN 5249044245) have
until Feb. 20 to submit written proofs of claim to:

         E. Korostyleva, Insolvency Manager
         Sovnarkomovskaya Str. 36-10
         603086 Nizhniy Novgorod
         Russia

The Arbitration Court of Nizhniy Novgorod commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A43-34244/2006-27-1022.

The Court is located at:

         The Arbitration Court of Nizhniy Novgorod
         Kremlin 9
         603082 Nizhniy Novgorod
         Russia

The Debtor can be reached at:

         CJSC Trading House Khimibor
         Sverdlova Str. 34, 6
         Dzerzhinsk
         Nizhniy Novgorod
         Russia


KURSK-GAS-STORY CJSC: Creditors Must File Claims by February 20
---------------------------------------------------------------
Creditors on declared CJSC Kursk-Gas-Stroy have until Feb. 20 to
submit written proofs of claim to:

         S. Bulgakov, Insolvency Manager
         Litovskaya Str. 12A
         305023 Kursk
         Russia

The Arbitration Court of Kursk commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A35-5481/06 g.

The Court is located at:

         The Arbitration Court of Kursk
         K. Marksa Str. 25
         305004 Kursk
         Russia

The Debtor can be reached at:

         S. Bulgakov, Insolvency Manager
         Litovskaya Str. 12A
         305023 Kursk
         Russia


MDM BANK: Gets EUR30-Mln Loan From NIB to Finance Projects
----------------------------------------------------------
OJSC MDM Bank signed a seven-year EUR30-million credit agreement
with Nordic Investment Bank.

Under the terms of the agreement MDM Bank, can obtain funds from
Nordic Investment Bank to finance Russian investment projects in
which a part of the goods or services involved originate from
Scandinavia or the Baltic states.  The funds can be used to pay
for imported goods and services and also import duties, taxes
and construction costs associated with the projects.

"This agreement with Nordic Investment Bank will allow MDM Bank
to provide new, long-term financing products to corporate
clients that have business ties with the Scandinavian and Baltic
countries," Michel Perhirin, CEO and Chairman of the Management
Board of MDM Bank commented.

                           About MDM

Headquartered in Moscow, Russia, OJSC MDM Bank --
http://www.mdmbank.com/-- provides financial services organized
across four divisions: corporate banking, retail banking, and
investment banking.  The bank owns and operates 100 offices
throughout Russia.

                         *     *     *

In a TCR-Europe report on Dec. 26, 2006, Standard & Poor's
Ratings Services raised its long-term counterparty credit rating
on MDM Bank to 'BB-' from 'B+'.  S&P said the outlook is stable.
At the same time, the 'B' short-term counterparty credit rating
on the bank was affirmed.

As reported in the TCR-Europe on Dec 20, Fitch Ratings affirmed
Russia-based MDM Bank's and parent MDM Holding GmbH's ratings:

   * MDM Bank:

      -- Issuer Default rating and foreign currency senior
         unsecured debt: affirmed at 'BB-' (BB minus); IDR
         Outlook Positive.

      -- Subordinated debt: affirmed at 'B+'

      -- National Long-term rating and RUB senior unsecured
         debt: affirmed at 'A+(rus)'; Long-term rating Outlook
         Positive.

      -- Short-term rating affirmed at 'B'

      -- Individual rating: affirmed at 'C/D'

      -- Support rating: affirmed at '4'

   * MDM Holding GmbH:

      -- IDR: affirmed at 'BB-' (BB minus); Outlook Positive

      -- Short-term rating: affirmed at 'B'

      -- Individual rating: affirmed at 'C/D'

      -- Support rating: affirmed at '5'

MDM Bank's US$2 billion Program for the Issuance of Loan
Participation Notes also carries Ba2/Not Prime ratings from
Moody's.  The outlook is stable.


MED-VITA LLC: Court Names Sh. Fazailov as Insolvency Manager
------------------------------------------------------------
The Arbitration Court of Moscow appointed Mr. Sh. Fazailov as
Insolvency Manager for LLC Insurance Company Med-Vita.  He can
be reached at:

         Sh. Fazailov
         Mira Pr. 101V
         129085 Moscow
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A40-27167/06-86-391B.

The Court is located at:

         The Arbitration Court of Moscow
         Novaya Basmannaya Str. 10
         Moscow
         Russia

The Debtor can be reached at:

         LLC Insurance Company Med-Vita
         Aviamotornaya Str. 49/1
         115142 Moscow
         Russia


MOBILE TELESYSTEMS: Forecasts 17% Revenue Hike in 2007
------------------------------------------------------
Mobile TeleSystems OJSC, led by President and Chief Executive
Leonid Melamed, disclosed its full year 2007 guidance.

Consolidated revenues are expected to grow 15-17%, while the
Company is targeting an OIBDA margin of around 50% and capital
expenditures of US$1.8 billion.

Management also affirmed the guidance for full year 2006 --
revenue growth of not less than 20%, an OIBDA margin of 50% and
CAPEX of US$1.8 billion.

"The guidance for the year 2007 reflects what we feel is
possible as we execute on our 3+1 strategy," Mr. Melamed said.
"As always, the Company is committed to leadership in our
markets of operation and maximizing the value we deliver to our
shareholders."
                    About Mobile TeleSystems

Headquartered in Moscow, Russia, Mobile TeleSystems OJSC --
http://www.mtsgsm.com/-- provides global system for mobile
communications technology-based mobile telecommunications
services in Russia, Belarus, Ukraine, Uzbekistan and
Turkmenistan.  Since June 2000, MTS' Level 3 ADRs have been
listed on the New York Stock Exchange (ticker symbol MBT).

                        *     *     *

As of Feb. 12, MTS carries these ratings:

Moody's:

   -- Long-Term Corporate family: Ba3]
   -- Outlook: Stable

Standard & Poor's

   -- Long-Term Foreign Issuer: BB-
   -- Long-Term Local Issuer: BB-
   -- Outlook: Stable


NAMED AFTER: Court Names M. Sorokin as Insolvency Manager
---------------------------------------------------------
The Arbitration Court of Smolensk appointed Mr. M. Sorokin as
Insolvency Manager for CJSC Named After Gagarin.  He can be
reached at:

         M. Sorokin
         Orlovskiy Per. 5
         129110 Moscow
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A62-9703/2005(728-N/05).

The Debtor can be reached at:

         CJSC Named After Gagarin
         Gagarinskiy
         Smolensk
         Russia


NOVOLIPETSK STEEL: Upgrades Coke-Chemical Production Facility
-------------------------------------------------------------
Novolipetsk Steel OJSC re-commissioned a 460,000-tons-per-year
coke battery 2 after major renovation.

The upgrade of the coke production facilities will result in
improved reliability, decreased environmental impact and
improvement in the quality of products.

Coke battery 2 is the fourth coke production unit at the Lipetsk
site with emissions trapping technologies -- dust-free coking
chamber charging and discharging.  The implementation of high
technology control systems will provide efficient coke gas
combustion and prevent its emission into atmosphere. The
operation of a modern coke line will significantly improve the
personnel working conditions.

Revamping coke battery 2 took 24 months. Total investment into
the project was around US$50.5 million.

Since the Technical Upgrading Program started in 2000, NLMK has
reconstructed coke batteries 1, 5, and 6, which are now
considered to be among the most efficient and environmentally
safe in Russia.  Equipment was upgraded and progressive coke gas
cooling technology was implemented in coke batteries 1-4.  To
provide high quality of produced coke, the storage space for
coal concentrate was redesigned and input coal blending got new
equipment and technologies.

                       About Novolipetsk

Headquartered in Lipetsk, Russia, Novolipetsk Steel OJSC --
http://www.nlmksteel.com/-- manufactures pig iron, slabs, hot-
rolled steel, and a variety of value-added steel products, such
as cold-rolled sheet, electrical steel and other specialty flat
products.  The group also operates in Denmark.

The group entered the Danish steel market in the first quarter
of 2006 by acquiring a 100% stake at DanSteel A/S.

                        *     *     *

As reported in the TCR-Europe on Jan. 17, Fitch Ratings assigned
OJSC Novolipetsk Steel an Issuer Default BB+ rating, a Short-
term B rating and a National Long-term AA rating.  The Outlooks
on the Issuer Default and National Long-term ratings are Stable.

As reported in the TCR-Europe on Dec. 21, Moody's Investor's
Service upgraded the corporate family rating for Novolipetsk
Steel from Ba2 to Ba1.  The outlook for the rating is stable.
The Moody's Interfax Rating Agency has upgraded the national
scale rating for NLMK from Aa2.ru to Aa1.ru.

As reported in the TCR-Europe on Dec. 5, Standard & Poor's
Ratings Services said that its ratings and outlook on Russian
steelmaker OJSC Novolipetsk Steel (NLMK;BB+/Stable/--; Russia
national scale 'ruAA+') are unchanged by the announcement of
NLMK's acquisition of a 50% share in a joint venture with
Duferco Group for US$850 million.


SLADKOVSKOYE CJSC: Asset Sale Slated for February 27
----------------------------------------------------
D. Khomutov, the external insolvency manager and bidding
organizer for CJSC Sladkovskoye, will open a public auction for
the company's properties at 2:00 p.m. on Feb. 27 at:

         D. Khomutov
         Room 513
         Krasnaya Str. 180
         Krasnodar
         Russia

Interested participants have until Feb. 22 to deposit an amount
equivalent to 15% of the starting price to:

         IP Khomutov D.V. (TIN 230903945632)
         Settlement Account 40802810800440004090
         Correspondent Account 30101810300000000978
         BIC 040349978
         OJSC Bank of Moscow
         Krasnodar
         Russia

Bidding documents must be submitted to:

         D. Khomutov
         Room 513
         Krasnaya Str. 180
         Krasnodar
         Russia
         Tel: (861) 253-76-99

The Debtor can be reached at:

         CJSC Sladkovskoye
         Zelenaya Str. 13 A
         Tselinnyj
         Slavyanskiy
         Krasnodar
         Russia


SMOLENSK-SEEDS OJSC: Creditors Must File Claims by February 20
--------------------------------------------------------------
Creditors on OJSC Smolensk-Seeds have until Feb. 20 to submit
written proofs of claim to:

         N. Pozdnyakov, Temporary Insolvency Manager
         Post User Box 92
         214006 Smolensk
         Russia

The Arbitration Court of Smolensk commenced bankruptcy
supervision procedure on OJSC Smolensk-Seeds.  The case is
docketed under Case No. A62-2988/2006 (970-N/06).

The Debtor can be reached at:

         OJSC Smolensk-Seeds
         5th km
         Roslavlskoye Shosse
         214009 Smolensk
         Russia


SOUTHERN TELECOM: Redeems Series 02 Bond Issue
----------------------------------------------
Southern Telecommunications Co. PJSC paid in full the sixth
coupon yield at 10.5% interest rate on all bonds for a total of
RUR78,540,000 or RUR52.36 per bond.

At the same time the Company repaid in full par value of its
series-02 bond issue (UTK-02ob. ISIN RU000A0AUUT0) for a total
of RUR1.5 billion.

The Board of Directors of Southern Telecommunications Co. PJSC
determined the interest rate.  The list of persons eligible to
receive coupon income was compiled as of Jan. 26.

The payment agent for UTK's series-02 issue is JSB Rosbank.

                        About the Company

Headquartered in Krasnodar, Russia, Southern Telecommunications
Co. PJSC -- http://www.stcompany.ru/-- provides local, long-
distance, and cellular telephone, paging and telegraph services.

                          *     *     *

As of Feb. 12, Southern Telecommunications Co. PJSC carries
these ratings:

Moody's:

   -- Issuer: Caa1
   -- Long-Term Corporate Family: B3
   -- Outlook: Stable

Standard & Poor's:

   -- Long-Term Corporate Credit: B-
   -- Long-Term Foreign Issuer Credit: B-
   -- Long-Term Local Issuer Credit: B-
   -- Outlook: Stable


SUAL GROUP: European Commission Okays SUAL-RUSAL-Glencore Merger
----------------------------------------------------------------
The European Commission has granted clearance for the merger of
Siberian-Urals Aluminium Company, Russky Alyuminiyum and
Glencore International AG, creating United Company RUSAL.

The enlarged company, which will consolidate RUSAL, SUAL and
alumina assets of Glencore will be the world's leading aluminium
and alumina producer.

The merger of RUSAL, SUAL and the alumina assets of Glencore was
announced in October 2006.  Under the terms of the merger
agreement, RUSAL's shareholder will own 66% of the new company,
with SUAL's shareholders owning 22% and Glencore 12%,
respectively.

The combined company will own bauxite mining, alumina refinery,
aluminium smelting and foil production facilities. The new
company becomes the world's largest aluminium and alumina
producer, employing more than 110,000 people in 17 countries on
five continents.

The company will account for approximately 12.5% of global
aluminium and 16% of global alumina production, respectively.
The annual volume of production will be approximately 4 million
tons of aluminium and 11 million tons of alumina.

"The EC's approval of our merger agreement is a major milestone
towards completing the transaction," RUSAL Chief Executive,
Alexander Bulygin said.  "The transaction has a compelling
industrial logic and offers significant synergies for further
growth."

As reported in the TCR-Europe on Nov 15, 2006, the United
Company RUSAL will include these RUSAL assets:

   -- Bratsk Aluminium Smelter,
   -- Krasnoyarsk Aluminium Smelter,
   -- Novokuznetsk Aluminium Smelter,
   -- Sayanogorsk Aluminium Smelters,
   -- Achinsk Alumina Plant,
   -- Nikolaev Alumina Refinery,
   -- Boksitogorsk Alumina Refinery,
   -- Friguia Alumina Plant (Guinea),
   -- Compagnie des Bauxites de Kindia (Guinea),
   -- Bauxite Company of Guyana,
   -- a stake in the Queensland Alumina Refinery (Australia),
   -- Armenal Alumina Refinery,
   -- Sayanal Alumina Refinery, and
   -- a cathode plant in China.

SUAL Group will contribute:

   -- Irkutsk Aluminium Smelter,
   -- Urals Aluminium Smelter,
   -- Kandalaksha Aluminium Smelter,
   -- Bogoslovsk Aluminium Smelter,
   -- Nadvoitsy Aluminium Smelter,
   -- Volgograd Aluminium Smelter,
   -- Volkhov Aluminium Smelter,
   -- Zaporozhye Aluminium Combine,
   -- Pikalevo Alumina Refinery,
   -- SUBR,
   -- Urals Foil,
   -- Silicon,
   -- SUAL-Silicon-Ural and
   -- SUAL-PM.

Glencore International AG will contribute:

   -- Aughinish in Ireland,
   -- Windalco and Alpart in Jamaica,
   -- Eurallumina in Italy, and
   -- Kubikenborg Aluminium Smelter in Sweden.

                        About Glencore

Headquartered in Baar, Switzerland, Glencore International AG --
http://www.glencore.com/-- engages in the smelting, refining,
mining, processing, purchasing, selling and marketing of metals
and minerals, energy products and agricultural products.
Energy products and commodities are marketed and coordinated
primarily in Glencore's headquarters in Baar, Switzerland and
through the offices of its subsidiaries in London, Stamford and
Singapore.

                         About RusAl

Headquartered in Moscow, Russia, Russky Alyuminiyum --
http://www.rusal.com/-- produces and smelts aluminium with
US$6.65 billion in revenues in 2005.  The group produced 2.714
million tons of primary aluminium in 2005.  RusAl employs about
50,000 people in nine Russian regions and thirteen countries.

                         About SUAL

Headquartered in Moscow, Russia, Siberian-Urals Aluminium
Company -- http://www.sual.com/-- produces and smelts aluminium
and ranks amongst the world's top ten producers.  It comprises
18 businesses that are located in nine Russian regions and in
Ukraine, Zaporozhya City, are involved in the production of
bauxite, alumina, primary aluminium, silicon, semi-finished and
finished aluminium products.  The Group's revenue for the year
ended Dec. 31, 2005, was US$2.7 billion.  It has 60,000
employees.

                        *     *     *

As of Feb. 12, SUAL Group carries these ratings:

Moody's:

   -- Long-Term Corporate Family: Ba3
   -- Outlook: Stable

Standard & Poor's:

   -- Long-Term Corporate Credit: BB-
   -- Long-Term Foreign Issuer: BB-
   -- Long-Term Local Issuer: BB-
   -- Outlook: Stable


THERMAL COMPANY: Creditors Must File Claims by March 20
-------------------------------------------------------
Creditors on OJSC Thermal Company have until March 20 to submit
written proofs of claim to:

         V. Bushuev, Insolvency Manager
         1st Yuzhnaya Str. 1a
         Gubkin
         309182 Belgorod
         Russia

The Arbitration Court of Belgorod commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A08-3865/06-11-24 B.

The Court is located at:

         The Arbitration Court of Belgorod
         Narodnyj Avenue 135
         308600 Belgorod
         Russia

The Debtor can be reached at:

         OJSC Thermal Company
         5th Zavodskoy Per. 38
         308000 Belgorod
         Russia


TMK OAO: Acquires 100% Stake in Orsk Engineering Plant
------------------------------------------------------
OAO TMK has acquired all of the ordinary shares in OAO Orsk
Engineering Plant located in Orsk, Orenburg.

The shareholding represents 75% of the authorized capital stock
of the company.  The authority of the sole executive body of OAO
OMZ has also been transferred to OAO TMK with effect from
Feb. 1, 2007.

OMZ specializes in the production of tool joints for drilling
pipes, couplings for tubing pipes, hydraulic cylinders for
mobile drilling machines and provides services for oil and gas
companies including Surgutneftegaz, Rosneft and Gazpromneft.
OMZ is the only company in Russia certified by the American
Petroleum Institute to produce tool joints for drilling pipes in
accordance with the international specification API Spec7.

"The purchase of Orsk Engineering Plant is in line with TMK's
stated objective of increasing the share of the oil and gas
services in its sales," Konstantin Semerikov, OAO TMK's CEO,
said.  "This will permit the Company to offer a comprehensive
and integrated approach to satisfying customer needs."

"OMZ has been a long term supplier to TMK mills.  We are
therefore very well acquainted with its strengths and its
acquisition will deliver synergy of production assets,
facilitate growth of high technology products and will permit
TMK to expand its presence in the oil and gas services market."

                           About TMK

Headquartered in Moscow, Russia, OAO TMK --
http://www.tmkgroup.ru/eng/-- manufactures the entire product
range of existing pipe products, which are used in the oil-and-
gas industry, the chemical and petrochemical industries, the
energy and machine-building industries, construction and the
municipal housing economy, shipbuilding, aviation, space and
rocket equipment, and agriculture.  TMK has production
facilities located in Russia and Romania, which unite the four
leading enterprises in the Russian pipe industry.

                          *     *     *

As of Feb. 5, OAO TMK carries these ratings:

   * Moody's Investors Service:

      -- Long-Term Corporate Family: B1
      -- Outlook: Positive

   * Standard & Poor's:

      -- Long-Term Foreign Issuer Credit: B+
      -- Long-Term Local Issuer Credit: B+
      -- Outlook: Stable


TMK OAO: Inks Strategic Partnership Agreement with SMS Group
------------------------------------------------------------
OAO TMK and SMS Group have signed an agreement on strategic
cooperation through to 2015.

The strategic partnership foresees coordination of long-term
joint activities to develop and implement SMS Group's best
technologies and equipment for the production of steel and
seamless steel pipes at TMK's mills.

During the signing meeting, Dmitriy Pumpyanskiy, Chairman of the
Board of Directors of OAO TMK, and Heinrich Weiss, SMS Group
President, expressed satisfaction with the results of their
joint efforts.  TMK is implementing a US$1.2 billion Strategic
Investment Program to be completed by 2010 that will implement
the most advanced technologies and increase the output of high-
tech pipe products.  The share of already launched projects
involving SMS Group's equipment in TMK's Strategic Investment
Program exceeds 50%.

In 2006, TMK and SMS Group signed agreements for the delivery of
a pipe rolling mill with a Premium Quality Finishing line for
Taganrog Metallurgical Works and an electric arc furnace for
Seversky Pipe Plant. The basic engineering of the projects has
been completed.

The new pipe rolling mill will allow Tagmet to increase
production capacity, expand its range and increase the quality
of its products.  The new mill is to be launched in the first
half of 2008 and will be capable of producing 600,000 tons of
pipes per year.  Pipes for oil and gas as well as seamless pipes
for engineering shall be produced in accordance with
international standards.

The electric arc furnace for Seversky Pipe Plant will be capable
of producing 990,000 tons of steel per year and is to be
launched in late 2007. The installation of the furnace will
culminate in the creation of a modern steel-producing complex
for Seversky Pipe Plant, to complement already launched ladle
furnace and a continuous casting machine.

In the agreement, TMK and SMS also express their intention to
create a joint venture on the basis of Seversky Pipe Plant that
will manage service and repair for equipment used in the
production of steel and seamless pipes.  This will be to the
highest standings of advanced manufacturing technologies and
best world practices.

TMK and SMS Group have been in close cooperation since 2001.
The mutual projects undertaken include stretch-reducing mill and
threading lines at Taganrog Metallurgical Works, upsetting press
machines at Taganrog Metallurgical Works and Sinarsky Pipe
Plant, and continuous casting machines at Volzhsky Pipe Plant,
Taganrog Metallurgical Works and Seversky Pipe Plant.

                           About TMK

Headquartered in Moscow, Russia, OAO TMK --
http://www.tmkgroup.ru/eng/-- manufactures the entire product
range of existing pipe products, which are used in the oil-and-
gas industry, the chemical and petrochemical industries, the
energy and machine-building industries, construction and the
municipal housing economy, shipbuilding, aviation, space and
rocket equipment, and agriculture.  TMK has production
facilities located in Russia and Romania, which unite the four
leading enterprises in the Russian pipe industry.

                          *     *     *

As of Feb. 5, OAO TMK carries these ratings:

   * Moody's Investors Service:

      -- Long-Term Corporate Family: B1
      -- Outlook: Positive

   * Standard & Poor's:

      -- Long-Term Foreign Issuer Credit: B+
      -- Long-Term Local Issuer Credit: B+
      -- Outlook: Stable


TMK OAO: Shareholders to Vote on Option Program March 2
-------------------------------------------------------
The Board of Directors of OAO TMK will convene an Extraordinary
General Meeting of Shareholders on March 2, through a postal
vote, to approve the TMK Option Program.

TMK's Option Program provides for the possible purchase of
shares by members of the Board of Directors and top managers of
the Company of up to 1.1% of the total amount of ordinary shares
in TMK within 3 years.

A copy of the Notice to shareholders has been submitted to the
U.K. Listing Authority, and will shortly be available for
inspection at the U.K. Listing Authority's Document Viewing
Facility, which is situated at:

         The Financial Services Authority
         35 The North Colonnade
         Canary Wharf
         London
         E14 5HS
         England

                           About TMK

Headquartered in Moscow, Russia, OAO TMK --
http://www.tmkgroup.ru/eng/-- manufactures the entire product
range of existing pipe products, which are used in the oil-and-
gas industry, the chemical and petrochemical industries, the
energy and machine-building industries, construction and the
municipal housing economy, shipbuilding, aviation, space and
rocket equipment, and agriculture.  TMK has production
facilities located in Russia and Romania, which unite the four
leading enterprises in the Russian pipe industry.

                          *     *     *

As of Feb. 5, OAO TMK carries these ratings:

   * Moody's Investors Service:

      -- Long-Term Corporate Family: B1
      -- Outlook: Positive

   * Standard & Poor's:

      -- Long-Term Foreign Issuer Credit: B+
      -- Long-Term Local Issuer Credit: B+
      -- Outlook: Stable


TULA-FARM OJSC: Creditors Must File Claims by March 20
------------------------------------------------------
Creditors on OJSC Tula-Farm (TIN 7105016385) have until March 20
to submit written proofs of claim to:

         V. Polyakova, Insolvency Manager
         Post User Box 225
         300002 Tula
         Russia

The Arbitration Court of Tula commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A68-311/B-06.

The Court is located at:

         The Arbitration Court of Tula
         Hall 35
         Sovetskaya Str. 112
         Tula
         Russia

The Debtor can be reached at:

         OJSC Tula-Farm
         Torkhovskiy Pr. 8
         300600 Tula
         Russia


YUKOS OIL: U.S.-Based Chevron Eyes Bankrupt Assets
--------------------------------------------------
The battle to take over the assets of OAO Yukos Oil Co. is
underway as Chevron Corp. becomes the first U.S. firm to express
an interest in entering the bidding race for the bankrupt
Russian oil producer, according to published reports.

The U.S.-based company joins other global energy investors,
including a consortium comprised of Italy's Eni SpA and Enel
SpA, in the intense competition for Yukos' remaining assets,
Greg Walters of the Wall Street Journal relates.

The remaining assets of what was once Russia's largest oil
producer include refineries and two oil production units.  These
assets, which are due to be liquidated this year, are initially
valued at more than US$22 billion as of January 2007.

An unidentified source told Russian daily Vedomosti last month
that the company's final market value could be slightly over
US$20 billion, US$4 billion short of the total creditor claims
against Yukos.  The sale of Yukos's assets will begin following
the completion of the valuation process this month.

According to WSJ, most observers believe the Kremlin will
maintain tight, though informal, control over the auction
proceedings even amidst promises of an open and fair process
from the office of Yukos liquidator Eduard Rebgun.  The sale of
Yukos' assets will begin following the completion of the
valuation process.

Analysts believe Russian-based Rosneft Oil and Gazprom have the
most advantage in taking over choice assets through the
liquidation sale, WSJ adds.  They also do not discount the
possibility of other bidders, which include Surgutneftegas as a
potential bidder for Tomskneft.

Chevron spokeswoman Irina Rybalchenko declined to comment.

In a Troubled Company Reporter-Europe report on Oct. 26, 2006,
Yevgeny Neiman, general director of Roseco, one of the five
valuers in the consortium, said Yukos's assets may be sold at a
discount after appraisers complete the valuation of the
company's properties.

"The discount on the liquidation price will depend on which
asset we are valuing.  The discount could be 10 percent or it
could be 90 percent," he said.

                        About Yukos Oil

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 on 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.

On March 10, 2006, 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, 2006, 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, 2006, 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, 2006, 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.


ZOLOTUKHINSKAYA SEL-KHOZ-KHIMIYA: Claims Deadline Set March 20
--------------------------------------------------------------
Creditors on OJSC Zolotukhinskaya Sel-Khoz-Khimiya have until
March 20 to submit written proofs of claim to:

         Y. Razinkov, Temporary Insolvency Manager
         Demokraticheskaya Str. 26
         Staryj Oskol
         309514 Belgorod
         Russia
         Tel: (4725) 22-58-63

The Arbitration Court of Kursk commenced bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
A35-7434/06 G.

The Court is located at:

         The Arbitration Court of Kursk
         K. Marksa Str. 25
         305004 Kursk
         Russia

The Debtor can be reached at:

         OJSC Zolotukhinskaya Sel-Khoz-Khimiya
         Kuybysheva Str. 44
         Zolotukhino
         Zolotukhinskiy
         306020 Kursk
         Russia


ZARAYSKOYE CJSC: Creditors Must File Claims by February 20
----------------------------------------------------------
Creditors on CJSC Zarayskoye have until Feb. 20 to submit
written proofs of claim to:

         L. Mochalina, Temporary Insolvency Manager
         Office 205
         Building 1
         Permskaya Str. 11
         107150 Moscow
         Russia

The Arbitration Court of Moscow commenced bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
A41-K2-25036/06.

The Court is located at:

         The Arbitration Court of Moscow
         Novaya Basmannaya Str. 10
         Moscow
         Russia

The Debtor can be reached at:

         CJSC Zarayskoye
         Zarayskiy, 2
         Zarayskiy
         140632 Moscow
         Russia


=========
S P A I N
=========


IKON OFFICE: Earns US$27.3 Million in Quarter Ended December 31
---------------------------------------------------------------
IKON Office Solutions reported net income was US$27.3 million
for the first quarter of fiscal 2007 ended Dec. 31, 2006,
compared with a net income of US$27.6 million for the same
period ended Dec. 31, 2005.

Total revenue for the first quarter of fiscal year 2007 was
US$1 billion, down 3% year over year, including a 1% currency
benefit.

Selling and administrative expenses decreased US$25.8 million
year over year and represented 28.6% of revenue in the first
quarter.  The decrease in selling & administrative expenses was
primarily driven by pension savings, and reductions in IT, real
estate and other corporate expenses.

Operating income in the first quarter of fiscal 2007 was
US$49 million, compared to US$53.3 million in the same period of
fiscal 2006.

"While we met our EPS guidance for the quarter, we are focused
on our top line performance and are taking actions to address
revenue growth," said Matthew J. Espe, IKON's Chairman and Chief
Executive Officer.  "We also remain focused on spending
reductions and on the roll out of One Platform, our initiative
to migrate to a single IT platform in the U.S.  We continue to
expect that our U.S. migration to One Platform will be two-
thirds complete by the end of fiscal 2007."

Full-text copies of the company's consolidated financial
statements for the quarter ended Dec. 31, 2006, are available
for free at http://researcharchives.com/t/s?19a3

                             Liquidity

Cash was US$366 million as of Dec. 31, 2006, and cash used in
operations totaled US$8 million for the first quarter, compared
to a usage of US$38 million in the first quarter of last year.

Capital expenditures on operating rentals and property and
equipment, net of proceeds, totaled US$9 million for the first
quarter, compared to US$8 million for the first quarter of
fiscal year 2006.

                    About IKON Office Solutions

Headquartered in Malvern, Pennsylvania, IKON Office Solutions
Inc. (NYSE:IKN) -- http://www.ikon.com/-- is the world's
largest independent channel for copier, printer and MFP
technologies.  It delivers integrated document management
solutions and systems, enabling customers worldwide to improve
document workflow and increase efficiency.  IKON has
approximately 25,000 employees in over 400 locations throughout
North America and Western Europe.  In Europe, IKON maintains
operations in Spain, Denmark, Switzerland, United Kingdom,
Sweden, The Netherlands, Italy, and Germany.

                        *     *     *

As reported in the Troubled Company Reporter-Europe on Oct. 26,
2006, Moody's Investors Service confirmed its Ba2 Corporate
Family Rating for IKON Office Solutions in relation to Moody's
implementation of its new Probability-of-Default and Loss-Given-
Default rating methodology for the U.S. Technology Hardware
sector.


=====================
S W I T Z E R L A N D
=====================


A+S ADRESSMANAGEMENT: Creditors' Liquidation Claims Due Feb. 28
---------------------------------------------------------------
Creditors of JSC A+S Adressmanagement + Services have until
Feb. 28 to submit their claims to:

         alghisi treuhand
         Liquidator
         Kloterenstrasse 5
         9435 Heerbrugg AG
         Switzerland

The Debtor can be reached at:

         JSC A+S Adressmanagement + Services
         Heerbrugg AG
         Switzerland


ALTERNATIVE PARKING: Creditors' Liquidation Claims Due Feb. 29
--------------------------------------------------------------
Creditors of JSC Alternative Parking have until Feb. 29 to
submit their claims to:

         Thomas Egli
         Liquidator
         JSC Flughafen Zurich
         8058 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Alternative Parking
         Kloten ZH
         Switzerland


B & H TRADE: Creditors' Liquidation Claims Due February 28
----------------------------------------------------------
Creditors of LLC B & H Trade have until Feb. 28 to submit their
claims to:

         JSC Pfister Treuhand
         Liquidator
         Bankstrasse 4
         8610 Uster ZH
         Switzerland

The Debtor can be reached at:

         LLC B & H Trade
         Kusnacht ZH
         Switzerland


BELLA VITA: Creditors' Liquidation Claims Due March 9
-----------------------------------------------------
Creditors of JSC Bella Vita have until March 9 to submit their
claims to:

         Beat Dossenbach
         Liquidator
         Buechwiesenstrasse 4
         9205 Waldkirch SG
         Switzerland

The Debtor can be reached at:

         JSC Bella Vita
         Waldkirch SG
         Switzerland


DEBO HANDELS: Creditors' Liquidation Claims Due February 26
-----------------------------------------------------------
Creditors of JSC Debo Handels have until Feb. 26 to submit their
claims to:

         Peter Marcandella
         Liquidator
         Kesselstrasse 4
         8200 Schaffhausen
         Switzerland

The Debtor can be reached at:

         JSC Debo Handels
         Schaffhausen, Switzerland


HUSLER WOHNEN: Creditors' Liquidation Claims Due February 28
------------------------------------------------------------
Creditors of JSC Husler Wohnen have until Feb. 28 to submit
their claims to:

         Roman Husler
         Liquidator
         Mythenstrasse 12
         6020 Emmenbrucke LU
         Switzerland

The Debtor can be reached at:

         JSC Husler Wohnen
         Littau LU
         Switzerland


M. SCHAFFNER: Creditors' Liquidation Claims Due February 28
-----------------------------------------------------------
Creditors of JSC M. Schaffner have until Feb. 28 to submit their
claims to:

         Madeleine Schaffner
         Liquidator
         Reuslistrasse 33
         4450 Sissach BL
         Switzerland

The Debtor can be reached at:

         JSC M. Schaffner
         Sissach BL
         Switzerland


MANPORT JSC: Creditors' Liquidation Claims Due February 28
----------------------------------------------------------
Creditors of JSC Manport have until Feb. 28 to submit their
claims to:

         JSC Pfister Treuhand
         Liquidator
         Bankstrasse 4
         8610 Uster
         Switzerland

The Debtor can be reached at:

         JSC Manport
         Kusnacht ZH
         Switzerland


RESTAURANT ROSENGARTEN: Aargau Court Starts Bankruptcy Process
--------------------------------------------------------------
The Bankruptcy Court of Aargau commenced bankruptcy proceedings
against LLC Restaurant Rosengarten Dardania on Jan. 18.

The Debtor can be reached at:

         LLC Restaurant Rosengarten Dardania
         Hauptstrasse 4
         5734 Reinach
         Kulm AG
         Switzerland

The Bankruptcy Service of Aargau can be reached at:

         Bankruptcy Service Aargau
         Office Oberentfelden
         5036 Oberentfelden
         Aarau AG
         Switzerland


THESAURUS CONTINENTALE: Creditors' Claims Due March 30
------------------------------------------------------
Creditors of JSC THESAURUS Continentale Effekten-Gesellschaft
have until March 30 to submit their claims to:

         JSC THESAURUS Continentale Effekten-Gesellschaft
         Liquidator
         Uraniastrasse 35
         8001 Zurich
         Switzerland

The Debtor can be reached at:

         JSC THESAURUS Continentale Effekten-Gesellschaft
         Uraniastrasse 35
         8001 Zurich
         Switzerland


=============
U K R A I N E
=============


GENERAL NUTRITION: S&P Keeps B Credit Rating on Watch Negative
--------------------------------------------------------------
Standard & Poor's Ratings Services said its ratings on General
Nutrition Centers Inc., including the 'B' corporate credit
rating, remain on CreditWatch with negative implications, where
they were placed on Dec. 22, 2006, following the company's
announcement that it was no longer contemplating a public
offering, but that it would continue to evaluate strategic
alternatives, including a possible sale of the company that
would be financed with a substantial amount of additional debt.

"On Feb. 9, Ares Management LLC and the Ontario Teachers'
Pension Plan announced that they had signed a definitive
agreement to acquire GNC Parent Corp., the parent company of
GNC, from Apollo Management L.P.," explained Standard & Poor's
credit analyst Jackie Oberoi.  "GNC's enterprise value is
estimated at US$1.65 billion for this transaction."

The ratings on Pittsburgh, Penn.-based GNC reflect a highly
leveraged capital structure, with total lease-adjusted debt pro
forma for the company's recent pay-in-kind note issuance of
about 6.8x.


GNIEVAN ATP: Claims Submission Deadline Set February 23
-------------------------------------------------------
Creditors of OJSC Gnievan ATP 10565 (code EDRPOU 05460858) have
until Feb. 23 to submit written proofs of claim to:

         N. Vozniakevich, Liquidator
         Hmelnitskiy Highway 2-A
         Vinnica
         Ukraine
         Tel: (0432) 55-49-60
                     66-07-85

The Economic Court of Vinnica commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 5/545-04.

The Court is located at:

         The Economic Court of Vinnica
         Hmelnickiy Str. 7
         21036 Vinnica
         Ukraine

The Debtor can be reached at:

         OJSC Gnievan ATP 10565
         Lenin Str. 104(98)
         Gnievan, Vinnica
         Ukraine


PREMIER SV-UKRAINE: Claims Submission Deadline Set February 21
--------------------------------------------------------------
Creditors of LLC Firm Premier SV-Ukraine (code EDRPOU 19240037)
have until Feb. 21 to submit written proofs of claim to:

         State Tax Inspection in Dnieprovsk, Liquidator
         Supreme Rada Boulevard 24-b
         02094 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 15/757-b.

The Court is located at:

         The Economic Court of Kiev
         B. Hmelnitskij Boulevard 44-B
         01030 Kiev
         Ukraine

The Debtor can be reached at:

         LLC Firm Premier SV-Ukraine
         M. Raskovaya Str. 17
         02002 Kiev
         Ukraine


RIN LLC: Claims Submission Deadline Set February 21
---------------------------------------------------
Creditors of LLC RIN (code EDRPOU 21453728) have until Feb. 21
to submit written proofs of claim to:

         State Tax Inspection in Dnieprovsk, Liquidator
         Supreme Rada Boulevard 24-b
         02094 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 15/820-b.

The Court is located at:

         The Economic Court of Kiev
         B. Hmelnitskij Boulevard 44-B
         01030 Kiev
         Ukraine

The Debtor can be reached at:

         LLC Rin
         Lunacharsky Str. 1/2
         02002 Kiev
         Ukraine


SELYSCHE GRANITE: Claims Submission Deadline Set February 25
------------------------------------------------------------
Creditors of Selysche Granite Quarry (code EDRPOU 30526818) have
until Feb. 25 to submit written proofs of claim to:

         O. Franko, Liquidator
         Guriev Str. 13.
         33000 Rovno
         Ukraine

The Economic Court of Rovno commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 19/315.

The Court is located at:

         The Economic Court of Rovno
         Yavornitski Str. 59
         33001 Rovno
         Ukraine

The Debtor can be reached at:

         Selysche Granite Quarry
         Selysche
         Sarny District
         34552 Rovno
         Ukraine


V5 LLC: Claims Submission Deadline Set February 21
--------------------------------------------------
Creditors of LLC V5 (code EDRPOU 30855561) have until Feb. 21 to
submit written proofs of claim to:

         State Tax Inspection in Dnieprovsk, Liquidator
         Supreme Rada Boulevard 24-b
         02094 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 44/487-b.

The Court is located at:

         The Economic Court of Kiev
         B. Hmelnitskij Boulevard 44-B
         01030 Kiev
         Ukraine

The Debtor can be reached at:

         LLC V5
         M. Raskovaya Str. 4
         02002 Kiev
         Ukraine


ZAPOROZHJE PETROLIUM: Claims Submission Deadline Set February 25
----------------------------------------------------------------
Creditors of LLC Zaporozhje Petrolium Product-Invest (code
EDRPOU 30294133) have until Feb. 25 to submit written proofs of
claim to:

         Vladimir Zhytnik, Liquidator
         Gvardejsky Boulevard 30/85
         69001 Zaporozhje
         Ukraine

The Economic Court of Zaporozhje commenced bankruptcy
proceedings against the company on Jan. 11 after finding it
insolvent.  The case is docketed under Case No. 25/1/07.

The Court is located at:

         The Economic Court of Zaporozhje
         Shaumiana Str. 4
         69001 Zaporozhje
         Ukraine

The Debtor can be reached at:

         LLC Zaporozhje Petrolium Product-Invest
         Metallurgov Str. 2
         69006 Zaporozhje
         Ukraine


===========================
U N I T E D   K I N G D O M
===========================


ADVANCED MARKETING: Court Augments Prepetition Shipping Duty Cap
----------------------------------------------------------------
The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court for
the District of Delaware authorized Advanced Marketing Services
Inc. and its debtor-affiliates to pay the valid prepetition
claims of domestic and international common carriers, shippers,
freight forwarders, and truckers, and increased the cap set
forth in the Court order to US$2,225,000.

Before any payment of prepetition claims of the Common Carriers
is made, the Debtors will provide notice of the proposed Payment
to the financial advisors for the Official Committee of
Unsecured Creditors, Traxi LLC, Judge Sontchi says.

The Committee will have two business days to provide written
notice of objection to a proposed Payment.  If no objection is
timely received, the Debtors will be authorized to make the
Payment.

Judge Sontchi notes that if the Creditors Committee timely
objects to a Payment, the Debtors will not make the Payment
without further agreement of the Committee of further Court
ruling.

To the extent the Committee timely objects to a proposed Payment
and the Debtors and the Committee are unable to resolve the
objection consensually, an emergency hearing in no less than
three business days' notice to all parties-in-interest will be
held to consider immediate approval of any proposed Payment.


                    About Advanced Marketing

Based in San Diego, California, Advanced Marketing Services,
Inc. -- http://www.advmkt.com/-- provides customized
merchandising, wholesaling, distribution, and publishing
services, currently primarily to the book industry.  The company
has operations in the U.S., Mexico, the United Kingdom, and
Australia and employs approximately 1,200 people Worldwide.

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
When the Debtors filed for protection from their creditors, they
listed estimated assets and debts of more than USUS$100 million.
The Debtors' exclusive period to file a chapter 11 plan expires
on April 28, 2007. (Advanced Marketing Bankruptcy News, Issue
No. 5; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


AIR POLLUTION: Creditors' Meeting Slated for February 19
--------------------------------------------------------
Creditors of Air Pollution (Equipment) Ltd. will meet at 2:00
p.m. on Feb. 19 at:

         Springfields Business Recovery & Insolvency Ltd.
         80 Hinckley Road
         Leicester
         LE3 0RD
         England

Situl Devji Raithatha of Springfields Business Recovery &
Insolvency Ltd. will furnish creditors with information
concerning the company's affairs free of charge as they may
reasonably require.


ALNWICK CYCLES: Creditors' Meeting Slated for February 20
---------------------------------------------------------
Creditors of Alnwick Cycles Ltd. will meet at 11:00 a.m. on
Feb. 20 at:

         Rowlands, Chartered Accountants
         Rowlands House
         Portobello Road
         Birtley
         Chester le Street
         DH3 2RY
         England

Creditors who want to vote at the meeting have until noon on
Feb. 19 to submit their proxy forms together with particulars of
their claims or of any security at:

         8 High Street
         Yarm
         Stockton on Tees
         TS15 9AE
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on Feb. 16 at Rowlands, Chartered Accountants.


AMDEL SERVICES: Appoints Administrators from SPW Poppleton
----------------------------------------------------------
H J Sorsky and M S E Solomons of SPW Poppleton & Appleby were
appointed joint administrators of Amdel Services Ltd. (Company
Number 04889963) on Jan. 31.

The joint administrators can be reached at:

         H J Sorsky and M S E Solomons
         SPW Poppleton & Appleby
         Gable House
         239 Regents Park Road
         London N3 3LF
         England
         Tel: 020 8371 5000
         Fax: 020 8346 8588
         E-mail: mike@spwca.com

Amdel Services Ltd. can be reached at:

         7 Progress Business Centre
         Whittle Parkway
         Slough
         Berkshire
         SL1 6DQ
         England
         Tel: 01628 669 400
         Fax: 01628 664 355


BSPC COMMERCIAL: Taps Joint Administrator from Gerald Edelman
-------------------------------------------------------------
Ian Douglas Yerrill and Bernard Hoffman of Gerald Edelman
Business Recovery were appointed joint administrators of BSPC
Commercial Repairs Ltd. (Company Number 04558011) on Jan. 23.

Gerald Edelman -- http://www.geraldedelman.com/-- offers
services that include auditing, business development, business
recovery, company registration, corporate finance, independent
financial planning, litigation support services, IT solutions,
taxation, and trusts.

BSPC Commercial Repairs Ltd. can be reached at:

         Unit 13
         Forge Wood Industrial Estate
         Gatwick Road
         Crawley
         West Sussex
         RH10 9PG
         England
         Tel: 01293 511 114
         Fax: 01293 511 114


BUGLER PARAGON: Appoints Baker Tilly as Joint Administrators
------------------------------------------------------------
Michael Rollings and Geoffrey Lambert Carton-Kelly of Baker
Tilly were appointed joint administrators of Bugler Paragon Ltd.
(Company Number 4170859) on Jan. 26.

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.

Bugler Paragon Ltd. ca n be reached at:

         Windy Ridge
         Brook Lane
         Corge Mullen
         Wimborne
         Dorset
         BH21 3RD
         England
         Tel: 01202 699 872
         Fax: 01202 604 704


BURNHILL DISTRIBUTORS: Taps William Antony Batty Administrator
--------------------------------------------------------------
William Antony Batty of Antony Batty & Co was named
administrator of Burnhill Distributors Ltd. (Company Number
01236081) on Jan. 22.

The administrator can be reached at:

         Antony Batty & Co.
         3 Field Court
         Grays Inn
         London
         WC1R 5EF
         England
         Tel: 020 7831 1234
         Fax: 020 7430 2727
         E-mail: antonybatty@hotmail.com

Burnhill Distributors Ltd. can be reached at:

         Jenner House
         Victory Park
         Trident Close
         Medway City Estate
          Rochester
         Kent
         ME2 4ER
         England
         Tel: 01634 290 511
         Fax: 01634 290 984


CAPITAL GAMING: Brings In David Hill to Administer Assets
---------------------------------------------------------
David Hill of Begbies Traynor was appointed administrator of
Capital Gaming Ltd. (Company Number 04683930) on Jan. 26.

Begbies Traynor -- http://www.begbies.com/-- assists companies,
creditors, financial institutions and individuals on all aspects
of financial restructuring and corporate recovery.

Capital Gaming Ltd. can be reached at:

         321 Penarth Road
         Cardiff
         South Glamorgan
         CF11 8TT
         Wales
         Tel: 029 2064 9500
         Fax: 029 2064 9549


CASTLE HEALTH: Appoints Harrisons as Joint Administrators
---------------------------------------------------------
P R Boyle and J C Sallabank of Harrisons were appointed joint
administrators of Castle Health Nursing & Care Services Ltd.
(Company Number 03356436) on Jan. 29.

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.

Castle Health Nursing & Care Services Ltd. can be reached at:

         158A
         Cowbridge Road East
         Cardiff
         South Glamorgan
         CF11 9ND
         Wales
         Tel: 029 2022 0177


CCS DEVELOPMENTS: Creditors' Meeting Slated for February 19
-----------------------------------------------------------
Creditors of CCS (Developments) Ltd. will meet at 3:30 p.m. on
Feb. 19 at:

         Baker Tilly
         First Floor
         46 Clarendon Road
         Watford
         Hertfordshire
         WD17 1JJ
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on Feb 15 at the said address.

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.


CLINICAL DIAGNOSTIC: Taps Administrators from Fanshawe Lofts
-------------------------- ----------------------------------
Antony Robert Fanshawe and Susan Jane Stockley of Fanshawe Lofts
were appointed joint administrators of Clinical Diagnostic
Chemicals Ltd. (Company Number 3113110) on Jan. 15.

The joint administrators can be reached at:

         Antony Robert Fanshawe and Susan Jane Stockley
         Fanshawe Lofts
         41 Castle Way
         Southampton
         Hampshire
         SO14 2BW
         England
         Tel: 023 8023 3522
         Fax: 023 8023 3504
         E-mail: sa@fanshawe-lofts.co.uk
                 arf@fanshawe-lofts.co.uk

Clinical Diagnostic Chemicals Ltd. can be reached at:

         Unit 60
         Ffordd William Morgan
         St. Asaph Business Park
         St. Asaph
         Clwyd
         LL17 0JD
         Wales
         Tel: 01745 535 242


CLUB CONNEXION: Creditors' Meeting Slated for February 26
---------------------------------------------------------
Creditors of Club Connexion Ltd. will meet at 10:30 a.m. on
Feb. 26 at:

         7 St. John's Road
         Harrow
         Middlesex
         HA1 2EY
         England

Creditors who want to vote at the meeting have until noon on
Feb. 23 to submit their proxy forms together with particulars of
their claims or of any security at:

         Findlay James
         Saxon House
         Saxon Way
         Cheltenham
         GL52 6QX
         England

A. J. Findlay, of Findlay James will furnish creditors with
information concerning the company's affairs free of charge as
they may reasonably require during the period before the
meeting.


CODE 10: Brings In Administrators from Wilkins Kennedy
------------------------------------------------------
Simon James Underwood and Colin George Wiseman of Wilkins
Kennedy were appointed joint administrators of Code 10 (U.K.)
Ltd. (Company Number 02788751) on Jan. 29.

The administrators can be reached at:

         Simon James Underwood and Colin George Wiseman
         Wilkins Kennedy
         Bridge House
         London Bridge
         London
         SE1 9QR
          England
         Tel: 020 7403 1877
         Fax: 020 7403 1605
         E-mail: colin.wiseman@wilkinskennedy.com

Code 10 (U.K.) Ltd. can be reached at:

         First Floor Chichester House
         37 Brixton Road
         London
         SW9 6DZ
         England
         Tel: 020 7735 9999
         Fax: 020 7735 8899


COMPASS GROUP: Buys 1 Million Ordinary Shares for Cancellation
--------------------------------------------------------------
Compass Group Plc purchased 1,000,000 ordinary shares for
cancellation at a price of 302.05125 pence per share through
Merrill Lynch International on Feb. 9.

Following the purchase and upon cancellation of these shares,
the number of ordinary shares of Compass Group PLC in issue with
voting rights will be 2,031,069,158.

                       About the Company

Headquartered in the U.K., Compass Group PLC --
http://www.compass-group.com/-- is the world's leading
foodservice company, with 400,000 employees specializing in
providing food, vending and related services in over 90
countries, and annual revenues of GBP12 billion.

                        *     *     *

At Sept. 30, 2006, the company's balance sheet showed strained
liquidity with GBP2.503 billion in total assets available to pay
GBP2.533 billion in total liabilities coming due within the next
12 months.


COVENTRY EXPRESS: Brings In Joint Administrators from KPMG
----------------------------------------------------------
Andrew Stephen McGill and Mark Jeremy Orton of KPMG LLP were
appointed joint administrators of Coventry Express Services Ltd.
(Company Number 2865119) on Feb. 1.

KPMG LLP -- http://www.kpmg.co.uk/-- offers accounting, audit,
and tax-related services to customers in such target industries
as banking, media and entertainment, consumer products, health
care providers, insurance, and pharmaceuticals.

Coventry Express Services Ltd. can be reached at:

         Bayton Road Industrial Estate
         Bayton Road
         Exhall
         Coventry
         West Midlands
         CV7 9EL
         England
         Fax: 024 7634 2886


DECORATIVE GLASS: Creditors' Meeting Slated for February 21
-----------------------------------------------------------
Creditors of Decorative Glass Holdings Ltd. will meet at 11:00
a.m. on Feb. 21 at:

         Butcher Woods
         79 Caroline Street
         Birmingham
         B3 1UP
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on Feb. 19 and Feb. 20 at Butcher Woods.


DISC EMPORIUM: Creditors' Meeting Slated for February 20
--------------------------------------------------------
Creditors of Disc Emporium Ltd. will meet at 11:00 a.m. on
Feb. 20 at:

         SPW Poppleton & Appleby
         Gable House
         239 Regents Park Road
         London
         N3 3LF
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on Feb 16.


DOMESTIC HOMEWORKS: Creditors' Meeting Slated for February 20
-------------------------------------------------------------
Creditors of Domestic Homeworks Ltd. will meet at 1:30 p.m. on
Feb. 20 at:

         Premi er Travel Inn
         159 Tower Bridge Road
         London
         SE1 3LP
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on Feb. 16 and Feb. 19 at the offices of:

         Recovery hjs
         12-14 Carlton Place
         Southampton
         Hampshire
         SO15 2EA
         England


EMI GROUP: Names Sly Bailey as Senior Independent Director
----------------------------------------------------------
EMI Group plc has appointed Sly Bailey as Senior Independent
Director, succeeding John Gildersleeve who recently became
Chairman of EMI Group.

Currently the Chief Executive of the U.K.'s largest newspaper
publisher, Trinity Mirror, Ms. Bailey has been a Non-Executive
Director of EMI since April 2004.  She will now also chair EMI's
Remuneration Committee.

Ms. Bailey, 45, has had a distinguished career in the media and
publishing industry.  Since February 2003 she has been chief
executive of Trinity Mirror, which has a portfolio of over 500
media brands, including over 260 newspapers and 300 Web sites,
and employs around 11,000 people across the U.K.

Between 1989 and 2003, Ms. Bailey held a number of executive
positions with IPC Media, the largest consumer magazine company
in the U.K., and led its sale to AOL Time Warner in 2001.  She
joined the company's board in 1994 and became Chief Executive in
1999.  She began her career in 1984 as a sales executive with
The Guardian newspaper before moving to The Independent
newspaper in 1987.

Ms. Bailey is also a director of The Press Association, is the
president of NewstrAid, a charity for the newspaper distribution
and retail industry, and is a board member of the NSPCC Stop
Organised Abuse Appeal.

                           About EMI

Headquartered in London, United Kingdom, EMI Group PLC --
http://www.emigroup.com/-- is the world's largest independent
music company, operating directly in 50 countries and with
licensees in a further 20.  The group has operations in Brazil,
China, and Hungary.  The group employs over 6,600 people.
Revenues in 2005 were near EUR2 billion and operating profit
generated was over EUR225 million.

At March 31, 2006, EMI Group's consolidated balance sheet
revealed GBP1.817 billion in total assets, GBP2.544 billion in
total liabilities and GBP726.6 million in shareholders' deficit.

                        *     *     *

According to a TCR-Europe report on Jan. 17, Moody's Investors
Service downgraded EMI Group Plc's Corporate Family and senior
debt ratings to Ba3 from Ba2.  All ratings remain under review
for possible further downgrade.

As reported in the TCR-Europe on Feb. 7, Standard & Poor's
Ratings Services lowered its long-term corporate credit and
senior unsecured debt ratings on U.K.-based music group EMI
Group PLC to 'BB-' from 'BB'.  The 'B' short-term rating was
affirmed.

At the same time, the long-term corporate credit rating and debt
ratings were put on CreditWatch with negative implications.


ESTERLINE TECHNOLOGIES: S&P Affirms BB Rating on Market Exposure
----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its ratings,
including the 'BB' long-term corporate credit rating, on
Esterline Technologies Corp.  The outlook is stable.

"Although the pending debt-financed acquisition of CMC
Electronics Inc. will result in a material deterioration in
Esterline's currently strong for the rating financial measures,
expected debt reduction should restore appropriate ratios in the
next 12 months," said Standard & Poor's credit analyst
Christopher DeNicolo.

However, the US$335 million acquisition limits the company's
flexibility for further acquisitions until leverage is reduced.
The increased debt would result in Esterline's pro forma debt to
EBITDA rising to approximately 4.5x from 2.6x in fiscal 2006,
with a similar deterioration in other credit protection
measures.  CMC designs and manufactures a range of electronics
for aviation applications including GPS, heads-up displays,
enhanced vision systems, electronic flight bags, and flight
management systems.  The acquisition will improve Esterline's
system integration capabilities.

The ratings on Esterline reflect the company's exposure to the
competitive and cyclical commercial aerospace market, an active
acquisition program, and modest size compared with some
competitors, offset somewhat by a diversified revenue base and
acceptable profitability.

Bellevue, Wash.-based Esterline designs and manufacturers highly
engineered products and systems for defense and aerospace
customers, as well as for general industrial applications.
Products include lighted switches and displays for commercial
and military aircraft, temperature and pressure sensors for
engines, and electronic countermeasures.  Revenues in recent
years have benefited from acquisitions, military sales, and the
recovery in the commercial aftermarket.

The Advanced Materials unit produces high-performance silicone
elastomer products, electronic warfare countermeasure products,
and combustible ordnance.  The company's Sensors & Systems unit
provides temperature and pressure sensors for aircraft turbine
engines, fluid regulation systems, and motion control
components.  Avionics & Controls produces technology interface
systems, lighted switches, displays and control products for
commercial and military aircraft.  Esterline's revenue base is
fairly balanced between military, commercial aerospace, and
industrial markets.  The firm's products are used on wide range
of commercial and military airplanes, with no one aircraft type
accounting for more than 5% of revenues.  Firm backlog was
US$654 million as of Oct. 27, 2006.

A diversified revenue base and good growth in key markets should
enable Esterline to reduce debt with free cash flow and restore
leverage and other credit protection measures to more
appropriate levels.  The outlook could be revised to negative if
leverage does not decline as expected or there are further debt-
financed acquisitions.  It is unlikely the outlook will be
revised to positive in the intermediate term.


EUROSAIL-UK: Moody's Rates Class E1c Mortgage Notes at (P)Ba1
-------------------------------------------------------------
Moody's Investors Service assigned provisional long-term credit
ratings to the Notes to be issued by Eurosail-UK 2007-1NC plc:

   -- Class A1 Mortgage Backed Floating Rate Notes due 2026:
      (P)Aaa;

   -- Class A2 Mortgage Backed Floating Rate Notes due 2045:
      (P)Aaa;

   -- Class A3 Mortgage Backed Floating Rate Notes due 2045;
      (P)Aaa;

   -- Class A3c Detachable Coupons due 2010; (P)Aaa;

   -- Class B Mortgage Backed Floating Rate Notes due 2045;
      (P)Aaa;

   -- Class C Mortgage Backed Floating Rate Notes due 2045;
      (P)A2;

   -- Class D1 Mortgage Backed Floating Rate Notes due 2045;
      (P)Baa2; and

   -- Class E1c Mortgage Backed Floating Rate Notes due 2045;
      (P)Ba1.

Moody's has not assigned ratings to the Class DTc, ETc or FTc
Notes.

It is anticipated that the Class A1, Class A2, Class A3, Class
B, Class C and Class D1 Notes will be issued in U.S. Dollars,
Sterling and/or Euros, subject to market demand.  The final
currency denominations within each separate class of note will
rank pari passu with each other in all respects.  The currency
risk will be covered via various currency swaps with one or more
swap counter parties.  The provisional ratings are based, inter
alia, on the sterling equivalent split of the Notes being as
follows (in percentage of the total Notes issuance excluding the
Class DTc, Class ETc and Class FTc Notes):

   -- Class A1 [31.00]%
   -- Class A2 [21.80]%
   -- Class A3 [33]%
   -- Class B [6.40]%
   -- Class C [4.05]%
   -- Class D1 [2.95]%
   -- Class E1c [0.80]%

This is the fifth securitization under the Eurosail name.  The
collateral includes loans from Southern Pacific Mortgage Ltd.,
Southern Pacific Personal Loans Ltd, Preferred Mortgages Ltd.,
and London Mortgage Co. and London Personal Loans Ltd. branded
loans.  Capstone Mortgage Services Ltd., a wholly owned
subsidiary of Lehman Brothers, is the primary mortgage servicer
and cash/bond administrator to the transaction.  Homeloan
Management Ltd (SQ2), a wholly owned subsidiary of Skipton
Building Society (A3, Prime-1), is the standby mortgage servicer
and standby cash/bond administrator.

Investors in the Class A3c Detachable Coupons do not receive any
payments of principal, and will be paid interest at a rate of
[1.0]% for quarters 1 to 4, increasing to [1.35]% in quarter 5,
[1.48]% in quarter 6, [2.00]% in quarter 7, [2.43]% in quarters
8 and 9, [2.56]% in quarter10, [2.90]% in quarter 11 and [3.24]%
in quarter 12, calculated on the sterling equivalent of the
outstanding balance of the Class A1, A2 and A3 Notes.

The structure of this transaction is similar to that of Eurosail
2006-3NC.  The Issuer has entered into a fixed/floating rate
swap agreement to mitigate the potential variations between
mortgage loan LIBOR and the loans in the pool that carry fixed
interest rates.  In Eurosail-UK 2007-1NC, however, there are two
such swaps, one for the short-term LIBOR and BBR fixed rate
loans [63.3%] and one for the fixed rate loans that are fixed
for life [6.6%].  Under these swap agreements, the Issuer will
pay the interest received from the fixed rate loans and will
receive from the swap counter party LIBOR plus a margin
determined at closing over the average of the aggregate of the
principal balances of the fixed rate loans in the mortgage pool
as of the second business day of each of the calendar months
falling during the interest period.

This transaction also incorporates a BBR-LIBOR swap to hedge the
basis risk resulting from the BBR loans included in the pool
(there were no such loans in Eurosail 2006-3) that are linked to
the BBR rate while the Notes pay LIBOR.  Under this swap, the
Issuer pays the weighted average BBR rate plus 18.5bp s.p.a. and
receives LIBOR on the BBR notional amount.

Like Eurosail 2006-3NC, this transaction has turbo notes
(Classes DTc, ETc and FTc) that are not backed by mortgage
collateral but will be paid back instead by available excess
spread.  Moody's is not rating these Notes.

At the closing date, the transaction will incorporate a cash
reserve to mitigate the reduced interest rate on discounted
loans during the first year.  A fixed cash amount will be
withdrawn from the Discount Margin Reserve Ledger on each of the
first four Interest Payment Dates (1st IPD GBP[4,300,750], 2nd
IPD GBP[3,679,672], 3rd IPD GBP[3,488,298] and 4th IPD
GBP[3,348,435]) and will flow through the revenue waterfall as
available revenue.

The provisional ratings of the A Notes, the B Notes, the C
Notes, the D1 Notes and the E1c Notes are based upon an analysis
of the characteristics of the mortgage pool backing the Notes,
the protection the Notes receive from credit enhancement against
defaults and arrears in the mortgage pool, and the legal and
structural integrity of the issue.  A level of protection to
investors in the Notes will be the Reserve Fund, which on
closing will equal GBP[4,550,000] or [0.65]% of the initial pool
balance.

The provisional ratings address the expected loss posed to
investors by the legal final maturity.  In Moody's opinion, the
structure allows for the timely payment of interest and ultimate
payment of principal by the legal final maturity.  Moody's
issues provisional ratings in advance of the final sale of
securities, and these ratings only represent Moody's preliminary
opinion.  Upon a conclusive review of the transaction and
associated documentation, Moody's will endeavor to assign
definitive ratings to the Notes.  A final rating may differ from
a prospective rating.


EXECUTIVE LEISURE: Creditors' Meeting Slated for March 14
---------------------------------------------------------
Creditors of Executive Leisure Ltd. will meet at 11:30 a.m. on
March 14 at:

         Courtyard By Marriott Coventry
         A45 London Road
         Ryton on Dunsmore
         Coventry
         CV8 3DY
         England

Creditors who want to vote at the meeting have until noon on
March 13 to submit their proxy forms together with particulars
of their claims or of any security at:

         HKM LLP
         The Old Mill
         9 Soar Lane
         Leicester &nb sp;
         LE3 5DE
         England
         Fax: 0116 242 5201

HKM LLP -- http://www.hkm.co.uk/-- is an independent and
regulated firm of accountants, business and taxation advisors
and insolvency specialists.  In July 2004, HKM Harlow Khandhia
Mistry changed its business status to become a limited liability
partnership and is now known as HKM LLP.


FJORD LINE: Creditors' Meeting Slated for February 22
-----------------------------------------------------
Creditors of Fjord Line Ltd. will meet at 11:00 a.m. on Feb. 22
at:

         Tenon House
         Ferryboat Lane
         Sunderland
         SR5 3JN
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge on Feb. 20 and Feb. 21.


HOTELOC PLC: S&P Lowered Class E Note Ratings to CC
---------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on the
class E notes issued by HOTELoC PLC.  The ratings on all other
classes of notes are unaffected.

The notes are backed by a single loan, which is secured on a
portfolio of 28 hotels in the U.K. operated by Thistle Hotels
Ltd. Standard & Poor's has been notified by the special
servicer, Capmark Services U.K. Ltd., that contracts were
exchanged on Feb. 5, 2007, for the sale of the hotels.

Capmark expects sale completion, which is subject to various
conditions, to take place within 21 to 60 days, or no later than
April 26, 2007, and in advance of the legal final maturity date
of May 10, 2007.

Following the receipt of the interim investor report, in which
details of the sales proceeds were provided, Standard & Poor's
now expects a principal loss of approximately 1.0% of the Day 1
outstanding transaction principal balance on the class E notes.
As a consequence, the ratings on the class E notes have been
lowered to 'CC'.  These notes were originally rated 'BB' and the
rating has been progressively lowered, most recently in January
2007 to 'CCC'.

As with any exchange of real estate contracts, there is a period
of uncertainty between exchange and completion.  If the exchange
of contracts is not completed and funds are not made available
for the repayment of the rated debt as anticipated, further
negative rating actions will occur on all classes of notes, with
the ratings on the class A, B, C, and D notes continuing on the
downward trend towards a 'D' rating.

"Assuming the sale proceeds are received before the legal final
maturity, it is expected that the class A, B, C, and D notes
will be repaid in full," said credit analyst Esther Robinson
Wild.  "This will prompt us to revisit the ratings on these
notes."

As a result of this uncertainty, Standard & Poor's will not be
resolving the CreditWatch placement on all of the notes at this
time.

                         Ratings List
                         HOTELoC PLC

       GBP514 Million Commercial Mortgage-Backed Floating-Rate
             Notes And US$26.557 Million Mortgage-Backed
                      Floating-Rate Notes

              Class                Rating
                          To                   From

    Ratings Lowered And Remaining On CreditWatch With Negative
                        Implications

              E1         CC/Watch Neg         CCC/Watch Neg
              E2         CC/Watch Neg         CCC/Watch Neg
              E3         CC/Watch Neg         CCC/Watch Neg


ITEC TECHNOLOGIES: Creditors' Meeting Slated for February 22
------------------------------------------------------------
Creditors of Itec Technologies Ltd. will meet at 1:00 p.m. on
Feb. 22 at the offices of:

         Valentine & Co.
         4 Dancastle Court
         14 Arcadia Avenue
         London
         N3 2HS
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge on Feb. 20.


M THIRTEEN: Creditors' Meeting Slated for February 21
-----------------------------------------------------
Creditors of M (Thirteen) Ltd. will meet at 10:30 a.m. on
Feb. 21 at the offices of:

         Begbies Traynor
         No.1 Old Hall Street
         Liverpool
         L3 9HF
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge on Feb. 19.

Begbies Traynor -- http://www.begbies.com/-- assists companies,
creditors, financial institutions and individuals on all aspects
of financial restructuring and corporate recovery.


MISYS PLC: Transfers 31,425 Ordinary Shares Held in Treasury
------------------------------------------------------------
Misys plc transferred 31,425 ordinary shares at prices between
nil cost and 175p per share to participants in its employee
share schemes on Feb. 9.  The shares were all formerly held as
Treasury shares.

Following the transfer of shares out of Treasury, Misys holds a
total of 50,330,512 ordinary shares in Treasury.  The total
number of ordinary shares in issue (excluding Treasury shares)
is 501,396,524.

Headquartered in the United Kingdom, Misys PLC --
http://www.misys.com/-- provides industry-specific software
serving the international banking and healthcare industries and
the U.K. general insurance industry.

At Nov. 30, 2006, the Company's balance sheet showed strained
liquidity with GBP266.5 million in total current assets
available to pay GBP331.9 million in total liabilities coming
due within the next 12 months.


MODUSPACE LTD: Creditors' Meeting Slated for February 22
--------------------------------------------------------
Creditors of Moduspace Ltd. will meet at 1:00 p.m. on Feb. 22
at:

         Quality Hotel Royal
         170 Ferensway
         Hull
         North Humberside
         HU1 3UF
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge on Feb. 20 and Feb. 21
at:

         141 Parrock Street
         Gravesend
         Kent
         DA12 1EY
         England


PREMIER FOODS: Disposing Erin Brand to Address Antitrust Issues
---------------------------------------------------------------
The Irish Competition Authority under section 21(2)(a) of the
Competition Act 2002 has determined that that the acquisition by
Premier Foods plc of RHM plc may be put into effect given
measures agreed between Premier and the ICA under section 20(3)
of the Act.

As a result, Premier will dispose of the Erin brand to address
the ICA's concerns that the Acquisition may lead to a
substantial lessening of competition in relation to gravy makers
in the Irish market.

Premier acquired the Erin brand in August 2006 as part of the
acquisition of Campbell's U.K. and Ireland business.  For the
year ended July 31, 2005, sales of the Erin brand were GBP9
million.

The Acquisition has already received unconditional clearance by
the Office of Fair Trading in the United Kingdom.  No other
regulatory reviews are pending.

                           Timetable

The measures agreed with the ICA are not expected to have any
effect upon the timetable for the Acquisition.

An extraordinary general meeting of Premier shareholders to
approve, among other things, the Acquisition is due to take
place at 10:00 a.m. on Feb. 15, the Court meeting of RHM
shareholders in respect of the Scheme is due to take place at
noon on Feb. 15, and an extraordinary general meeting of RHM
Shareholders to approve, among other things, the Scheme is due
to take place at 12:15 p.m. on Feb. 15.  The Scheme is expected
to become effective on March 16.

As previously reported in the TCR-Europe on Dec. 5, 2006, the
boards of Premier Foods and RHM have reached agreement on the
terms of a recommended offer to be made by Premier to acquire
the entire issued and to be issued share capital of RHM.

                       Terms of the Offer

Under the terms of the Offer, RHM Shareholders will receive:
For each RHM Share: one New Premier Share, and GBP83.2 pence in
cash,

    * valuing each RHM Share at GBP352.45 pence, representing
      a premium of 29.7% to the Closing Price per RHM Share
      on  Dec. 1, 2006, of 271.75 pence, based on the
      Closing Price per Premier Share of 269.25 pence on
      Dec. 1, 2006,

    * valuing the entire issued and to be issued ordinary
      share capital of RHM at approximately GBP1.23 billion
      which represents an enterprise value for RHM of
      approximately GBP2 billion.

Existing RHM Shareholders will hold approximately 41% of the
issued share capital of the enlarged Premier and existing
Premier Shareholders approximately 59% of the enlarged Premier.

The share element of the consideration will allow RHM
Shareholders to benefit substantially from the synergies
expected to arise, as well as from the longer term strategic
benefits expected from the combination.

RHM will pay an interim dividend of 5.5 pence per RHM Share in
respect of the period ended Oct. 28, 2006.  RHM Shareholders on
the register at Dec. 22, 2006, will be entitled to the RHM
interim dividend, whether or not the Offer is completed, which
will be paid on Feb. 23.

In order to align dividend payments to Premier Shareholders and
RHM Shareholders for the year, the Board of Premier has declared
a second interim dividend of 5.5 pence per Premier Share.
Premier Shareholders on the register at Dec. 22, 2006, will be
entitled to receive this dividend, whether or not the Offer is
completed, to be paid on Feb. 23.

The 2006 final dividend of Premier, to which holders of New
Premier Shares will be entitled (assuming the acquisition
completes), will be set by the directors of Premier in
accordance with its current dividend policy, save that it will
take account of this second interim dividend of 5.5 pence which
will be paid to Premier Shareholders on Feb. 23.  The
2006 final dividend and any 2007 interim dividend of Premier
will be paid in the calendar year 2007.

Headquartered in Birmingham, England, Premier Foods --
http://www.premierfoods.co.uk/-- manufactures Ambrosia custard
and rice pudding, Branston pickle, Hartley's jams and marmalade
and Sarsons vinegar.

At July 1, 2006, Premier Foods PLC's balance sheet showed
strained liquidity with GBP220.2 million in total current assets
available to pay GBP224.4 million in total current liabilities.


S & J PARKINGTON: Creditors' Meeting Slated for February 21
-----------------------------------------------------------
Creditors of S & J Parkington Ltd. will meet at 11:30 a.m. on
Feb. 21 at:

         Lines Henry
         6th Floor
         Grafton Tower
         Stamford New Road
         Altrincham
         Cheshire
         WA14 1DQ
         England

Creditors who want to vote at the meeting have until noon on
Feb. 20 to submit their proxy forms together with particulars of
their claims or of any security at the said address.

Neil Henry and Michael Simister of Lines Henry will furnish
creditors with information concerning the company's affairs free
of charge as they may reasonably require between 10.00 a.m. and
4:00 p.m. on Feb. 19.


SIMPSON BROTHERS: Creditors' Meeting Slated for February 21
-----------------------------------------------------------
Creditors of Simpson Brothers Builders Ltd. will meet at 11:00
a.m. on Feb. 21 at:

         Bartfields (U.K.) Ltd.
         Burley House
         12 Clarendon Road
         Leeds
         LS2 9NF
         England

G. M. Krasner of Bartfields (U.K.) Ltd. will furnish creditors
with information concerning the company's affairs free of charge
as they may reasonably require.


SOFT SECRETS: Creditors' Meeting Slated for February 23
-------------------------------------------------------
Creditors of Soft Secrets Ltd. will meet at noon on Feb. 23 at:

         Comfort Inn
         Junction A27/A284
         Crossbush
         Arundel
         West Sussex
         BN17 7QQ
         England

Harjinder Johal of Ashcrofts will furnish creditors with
information concerning the company's affairs free of charge
during the period before the meeting as they may reasonably
require at:

         601 High Road Leytonstone
         London
         E11 4PA
         England

Ashcrofts -- http://www.ashcrofts.net/-- offers hands on
expertise specializing in Business Recovery and Insolvency
providing positive solutions for negative situations.


TAYLOR MADE: Yorkshire Bank Taps Deloitte & Touche as Receivers
---------------------------------------------------------------
Yorkshire Bank appointed Adrian Peter Berry and Ian Brown of
Deloitte & Touche LLP joint administrative receivers of Taylor
Made Samples Ltd. (Company Number 2486671) on Feb. 1.

Deloitte & Touche LLP -- http://www.deloitte.com/-- provides
audit, tax, consulting and corporate finance services through
more than 9,000 peo ple in 21 locations.  The group is the
United Kingdom member firm of Deloitte Touche Tohmatsu, a Swiss
Verein whose member firms are separate and independent legal
entities.

Taylor Made Samples Ltd. can be reached at:

         Unit 6
         Acorn Park Industrial Estate
         Charlestown
         Shipley
         West Yorkshire
         BD17 7SW
         England
         Tel: 01274 643 311
         Fax: 01274 596 584


TUDOR ROSE: Creditors' Meeting Slated for February 19
-----------------------------------------------------
Creditors of Tudor Rose Of Sidmouth Ltd. will meet at 10:30 a.m.
on Feb. 19 at:

         Premier Travel Inn
         Taunton Central (North)
         Massingham Park
         Taunton
         Somerset
         TA2 7RX
         England

Tracy A. Taylor of Abbey Taylor Ltd. will furnish creditors with
information concerning the company's affairs free of charge as
they may reasonably require at:

         The Blades Enterprise Centre
         John Street
         Sheffield
         S2 4SW
         England


WALBRIDGE LTD: Creditors' Meeting Slated for February 20
--------------------------------------------------------
Creditors of Walbridge Ltd. will meet at 11:15 a.m. on Feb. 20
at:

         Ideal Corporate Solutions Ltd.
         10 Eagley House
         Deakins Business Park
         Bolton
         BL7 9RP
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on Feb. 16 at Ideal Corporate Solutions Ltd.


* Tenon Appoints Five New Directors & Six Associate Directors
-------------------------------------------------------------
Tenon, the UK's leading accountancy and business advisory firm
to entrepreneurs, disclosed of a series of promotions including
five new directors and six associate directors.

Tenon's people are key to its ambitious growth plans.  Tenon
achieved excellent results during 2006 after reaching a turnover
of GBP124 million, 24% growth on the year before and moving from
tenth to ninth in the accountancy league tables:

   -- Nigel Burke has been promoted to Director of Business
      Services in the Chiltern Street office, London.  Mr. Burke
      has been with Tenon and its previous legacy practice since
      1995 and specializes in the film sector.  He has
      considerable experience of sale and leaseback
      transactions, equity funding, film tax credits and other
      film funding, both in the UK and overseas.

   -- Andrea Errington has been promoted to Director of
      Corporate Finance in the Southampton office.  Ms.
      Errington has been with Tenon since 2001 and has a wide
      cross section of experience in the mid market and in-depth
      knowledge manufacturing, support services, distribution
      and the leisure and retail sectors.

   -- Both Laura Clarkson and Liz Ritchie have been promoted to
      Directors of Business Services.  Based in Edinburgh they
      have over 24 years experience between them at Tenon and
      the legacy practices.  Ms. Clarkson has advised
      professional service businesses and individuals about tax
      issues and heads the newly formed Professional Practices
      division.  Ms. Ritchie is a key adviser to high net worth
      owner managers and specializes in corporate and personal
      tax issues.

   -- Christopher Ratten, based in Manchester, has been promoted
      to Director of Recovery.  He has been with Tenon and its
      legacy practice, Lathams, for over 13 years and
      specializes in turnarounds for owner managed businesses in
      manufacturing and engineering.

There are six associate director appointments:

   -- David Painter and Craig Maclean have been promoted to
      Associate Directors in Financial Services.

   -- Gayle Woodman and Helen Symes have been promoted to
      Associate Director in Outsourcing.

   -- Jez Quigg has been promoted to Associate Director in
      Corporate Finance.

   -- Julie White has been promoted to Associate Director of
      Tax.

"I'm delighted to announce this series of internal promotions,"
Andy Raynor, Tenon's chief executive, commented.  "We've
invested heavily in our flagship training and development
program which is clearly working effectively and enables us to
recognize and promote our staff.  The Tenon Academy is set to
continue to produce our stars of the future and maintain our
position as the key adviser to entrepreneurs."

                           About Tenon

United Kingdom-based, Tenon -- http://www.tenongroup.com/-- is
a leading provider of accounting and business advice to
entrepreneurs.  Tenon provides clients with expertise in
Business Services, Tax, Financial Services, Corporate Finance,
Recovery, Outsourcing and Forensic Accountancy.  Tenon is the
9th largest UK accountancy firm with almost 1500 staff operating
through a network of 28 offices across the UK offering local
expertise with the backing of a national plc.


* Large Companies with Insolvent Balance Sheets
-----------------------------------------------

                                Shareholders   Total    Working
                                   Equity      Assets   Capital
                          Ticker    (US$MM)    (US$MM)   (US$MM)
                          ------ -----------  -------   --------

AUSTRIA
-------
Libro AG                            (111)         174     (182)
Rhi AG                              (214)       1,756      293


BELGIUM
-------
City Hotels               CITY.BR     (7)         210      (15)
Sabena S.A.                          (86)       2,215     (297)


CZECH REPUBLIC
--------------
Ceskomoravska Kolben &
   Danek Praha Holding               (89)         192   (2,186)


DENMARK
-------
Elite Shipping                       (28)         101       19


FRANCE
------
Acces Industrie                       (8)         106      (35)
Arbel                     PA.ARB     (98)         222      (72)
Banque Nationale
   de Paris Guyane        BNPG       (41)         352      N.A.
BSN Glasspack                       (101)       1,151      179
Charbo De France                  (3,872)       4,738   (2,868)
Compagnie Francaise de
   l'Afrique Occidentale             (65)         256       21
Dollfus Mieg & Cie S.A.   DS         (16)         143      (45)
Euro Computer System                (110)         682      377
Genesys S.A.              GNS.PA     (10)         120       (5)
Grande Paroisse S.A.                (927)         629      330
Immob Hoteliere                      (68)         233       29
Labo Dolisos              DOLI.PA    (28)         110      (33)
Matussiere et Forest S.A. MTF        (78)         294      (28)
Oeneo S.A.                SABT.PA    (12)         292       38
Pneumatiques Kleber S.A.             (34)         480      139
Rhodia S.A.               RHA       (788)       6,681      171
SDR Centrest                        (132)         252      N.A.
SDR Picardie                        (135)         413      N.A.
Selcodis S.A.             SPVX       (18)         128       22
Soderag                               (3)         404      N.A.
Sofal S.A.                          (305)       6,619      N.A.
Spie-Batignolles                     (16)       5,281       75
St Fiacre (FIN)                       (1)         111      (33)
Teamlog                   TLO        (19)         109       (3)
Trouvay Cauvin                        (0)         134       10
Usines Chausson                      (23)         249       35


GERMANY
-------
Cognis Deutschland
   GmbH & Co. KG                    (174)       3,003      606
Dortmunder
   Actien-Brauerei        DABG       (13)         118      (29)
EM.TV AG                  EV4G.BE    (22)         849       15
F.A. Guenther & Son AG    GUSG        (8)         111      N.A.
Kaufring AG               KAUG       (19)         151      (51)
Maternus Kliniken AG      MAK.F       (3)         207      (30)
Nordsee AG                            (8)         195      (31)
Plambeck Neue
   Energien AG            PNE3        (4)         141       19
Primacom AG               PRIG      (268)       1,257   (1,048)
Rinol AG                  RLIG       (64)         104      (15)
Schaltbau Hold            SLTG       (23)         144       (7)
SinnLeffers AG            WHGG        (4)         454     (145)
Spar Handels- AG          SPAG      (442)       1,433     (234)
Vivanco Gruppe                       (55)         131      (31)


GREECE
------
Empedos S.A.              EMPED      (34)         175      (48)
Pouliadis Associates
   Corporation            POUL       (28)         124      (31)
Radio A.Korassidis        KORA      (101)         181     (139)
   Commercial

HUNGARY
-------
Exbus Asset Management
   Nyrt.                  EXBUS      (30)         118   (5,162)


ICELAND
-------
Decode Genetics Inc.      DCGN        (9)         229      141

ITALY
-----
Binda S.p.A.              BND        (11)         129      (20)
Cirio Finanziaria S.p.A.            (422)       1,583     (396)
Credito Fondiario
   e Industriale S.p.A.             (200)       4,218      N.A.
Finpart S.p.A.                      (152)         732     (322)
Gruppo Coin S.p.A.        GC        (150)       4,218      N.A.
I Viaggi del
   Ventaglio S.p.A.       VVE.MI     (61)         487      (58)
Olcese S.p.A.             OLCI.MI    (13)         180      (64)
Parmalat Finanziaria
   S.p.A.                        (18,419)       4,121  (12,481)
Technodiffusione
   Italia S.p.A.          TDIFF.PK   (90)         152      (24)
Wind Telecomunicazioni
   S.p.A.                            (10)      12,698     (815)

NETHERLANDS
-----------
Baan Company N.V.         BAAN        (8)         610       46
United Pan-Euro Air       UPC     (5,266)       5,180   (8,730)


NORWAY
------
Petroleum-Geo Services    PGO        (32)       2,963   (5,250)


POLAND
------
Mostostal Zabrze          MECOF.PK    (6)         227     (366)
Vista Alegre Atlantis
   SGPS S.A.              VAAAE      (18)         193      (83)

ROMANIA
-------
Oltchim RM Valce          OLT        (45)         232     (321)


RUSSIA
------
OAO Samaraneftegas                  (332)         892  (16,942)
Zil Auto                            (185)         378  (11,107)


SPAIN
-----
Altos Hornos de
   Vizcaya S.A.                     (116)       1,283     (278)
Santana Motor S.A.                   (46)         223       41
Sniace S.A.                          (10)         134      (37)


SWITZERLAND
-----------
Wedins Skor
    Accessoarer AB                   (10)         139     (129)


TURKEY
------
Nergis Holding                       (24)         125       26
Yasarbank                           (948)         623      N.A.


UKRAINE
-------
Dnepropetrovsk Metallurgical
   Plant Imeni Petrovsko              (2)         278     (509)
Dniprooblenergo                      (38)         478     (797)
Donetskoblenergo                    (166)         706   (1,320)


UNITED KINGDOM
--------------
Abbott Mead Vickers                   (2)         168      (16)
AEA Technology Plc        AAT.L      (24)         340      (50)
Alldays Plc                         (120)         252     (202)
Amey Plc                             (49)         932      (47)
Anker Plc                 ANK.L      (22)         115       13
Atkins (WS) Plc           ATK        (63)       1,279       70
Bonded Coach
   Holiday Group Plc                  (6)         188      (44)
Blenheim Group                      (153)         198      (34)
Booker Plc                BKRUY      (60)       1,298       (8)
Bradstock Group           BDK         (2)         269        5
Brent Walker Group        BWL     (1,774)         867   (1,157)
British Energy Plc        BGY     (5,823)       4,921      434
British Nuclear
   Fuels Plc                      (4,248)      40,326      977
Compass Group             CPG       (668)       2,972     (298)
Costain Group             COST       (39)         567       (5)
Danka Bus System          DNK.L     (108)         540       34
Dawson Holdings           DWN.L      (12)         158      (19)
Easynet Group             ESY.L      (45)         323       38
Electrical and Music
   Industries Group       EMI     (1,264)       2,818     (253)
Euromoney Institutional
   Investor Plc           ERM.L      (88)         297      (56)
European Home Retail Plc  EHRL       (14)         111      (37)
Gartland Whalley                     (11)         145       (8)
Global Green Tech Group             (156)         408      (18)
Gondola Holdings Plc      GND.L     (239)         987     (396)
Heath Lambert
   Fenchurch Group Plc               (10)       4,109      (10)
HMV Group Plc             HMV         (4)         948     (175)
Homestyle Group Plc       HME        (29)         409     (124)
Imperial Chemical
   Industries Plc         ICI       (835)       8,881      (49)
Invensys PLC                      (1,031)       3,875      494
IPC Media Ltd.                      (685)         254       16
Jarvis Plc                JRVS.L    (683)         492     (371)
Lambert Fenchurch Group               (1)       1,827        3

Lattice Group                     (1,290)      12,410   (1,228)
Leeds United              LDSUF.PK   (73)         144      (29)
M 2003 Plc                        (2,204)       7,205     (756)
Manchester City                      (17)         154      (21)
Micro Focus
   International Plc      MCRO.L     (14)         115      (11)
Mytravel Group            MT.L      (283)       1,159     (410)
Orange Plc                ORNGF     (594)       2,902        7
Park Group Plc            PKG.L       (5)         111      (13)
Partygaming Plc           PRTY       (46)         398     (110)
Premier Farner Plc        PFL        (33)         964      127
Premier Foods Plc         PFD.L      (31)       1,475       16
Probus Estates Plc        PBE.L      (28)         113      (49)
Regus Plc                 RGU.L      (46)         367      (60)
Rentokil Initial Plc      RTO     (1,134)       2,678      (45)
RHM Plc                   RHM       (586)       2,411       59
Saatchi & Saatchi         SSI       (119)         705      (41)
Seton Healthcare                     (11)         157        0
SFI Group                           (108)         178     (162)
Telewest
   Communications Plc     TLWT    (3,702)       7,581   (5,361)
UK Coal Plc               UKC        (25)         865      (62)
Virgin Mobile
   Holdings Plc           VMOB.L    (490)         155      (80)
Wincanton Plc             WIN        (66)       1,236      (71)


                           *********

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 P. Laureno, Julybien Atadero, Carmel Zamesa
Paderog, Joy Agravante, Zora Jayda Zerrudo Sala, Kristina A.
Godinez, and Pius Xerxes Tovilla, Editors.

Copyright 2007.  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$625 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.


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