TCREUR_Public/070219.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
>
>             Monday, February 19, 2007, Vol. 8, No. 35
>
>                             Headlines
>
>
> A U S T R I A
>
> A. ROTTER: Claims Registration Period Ends March 13
> ANGEL GEBAUDEREINIGUNG: Creditors' Meeting Slated for March 12
> BLEY LLC: Estate Administrator Declares Insufficient Assets
> ECKL & PARTNER: Claims Registration Period Ends March 13
> MURAT KAYADELEN: Claims Registration Period Ends March 28
>
> RAMADANI KEG: Claims Registration Period Ends March 7
> S BAU: Claims Registration Period Ends March 15
> SOFIX-BAU: Claims Registration Period Ends March 29
> STAHLBAU HEIDENREICH: Claims Registration Period Ends March 9
>
>
> C Z E C H   R E P U B L I C
>
> TIBA DVUR: Court Appoints S. Kuzela as Bankruptcy Administrator
>
>
> F R A N C E
>
> ALCATEL-LUCENT: Job Cuts to Affect Research & Development Unit
> VALASSIS COMM: Moody's Rates Proposed US$590-Mln Notes at B3
>
>
> G E R M A N Y
>
> ALBERT JAGER: Claims Registration Ends March 21
> ALU KUNSTSTOFF-TECHNIK: Claims Registration Period Ends March 16
> BACKEREI FENUTA: Claims Registration Period Ends February 28
> CMB BEROLINA: Creditors' Meeting Slated for March 20
> DAIMLERCHRYSLER: Chrysler Group In Talks with General Motors
>
> DATA-MEDIA: Claims Registration Period Ends March 30
> EUROPLEASING AG: Claims Registration Period Ends March 23
> FOTO WEGERT: Claims Registration Period Ends March 20
> FRIEDRICH BAUUNTERNEHMUNG: Claims Registration Ends March 30
> GREBENSTEIN & LINKE: Claims Registration Period Ends March 20
>
> IGETEC GESELLSCHAFT: Claims Registration Period Ends March 29
> ITALIA AUTOMOBIL: Claims Registration Ends March 22
> ITALIA AUTOMOBILI: Claims Registration Ends March 20
> J.E.M. CONSULTING: Claims Registration Ends March 26
> LANGHEIN-HAUS: Claims Registration Ends March 22
>
> MANTHEO GASTRONOMIE: Creditors' Meeting Slated for March 19
> ME-INDUSTRIEANLAGEN GMBH: Claims Registration Ends March 16
> METALLBAU HASS: Claims Registration Ends March 23
> MILENIYUM GMBH: Claims Registration Ends March 21
> NORDWACHT VERWALTUNGS: Claims Registration Ends April 2
>
> OST-LEAS DEUTSCHLAND: Claims Registration Ends March 23
> PAS GMBH: Creditors Must Register Claims by March 19
> PAWLOWSKI INTERNATIONALE: Creditors Must File Claims by March 30
> PLATO GMBH: Creditors Meeting Slated for March 30
> POHLNER INDUSTRIESCHWEISSUNGEN: Proofs of Claim Due March 25
>
> RATSKELLER OSTERODE: Creditors Must Register Claims by March 30
> RCS RADIO: Claims Registration Ends March 26
> RHEIN-MAIN-BIZZ: Claims Registration Ends March 28
> ROBERT KEVECORDES: Claims Registration Ends March 30
> SANITATSHAUS RUEDIGER: Claims Registration February 23
>
> SPECHT LEUCHTEN: Claims Registration Period Ends March 28
> SZCZESNY GMBH: Claims Registration Period Ends April 10
> WALLMEIER HAIR: Claims Registration Period Ends March 28
> ZETTLITZ GMBH: Claims Registration Period Ends March 23
>
>
> H U N G A R Y
>
> BORSODCHEM NYRT: Earns HUF14.6 Billion for Fourth Quarter 2006
> BORSODCHEM NYRT: Returned Shares Hikes Treasury to 1,193,218
>
>
> I R E L A N D
>
> SMURFIT KAPPA: S&P Keeps B+ Ratings on CreditWatch
>
>
> I T A L Y
>
> ALITALIA SPA: Picks Five Bidders to Proceed with Bidding Process
> ALITALIA SPA: Italy Excludes CEO Giancarlo Cimoli from New Board
> FIAT GROUP: Inks Argentine Production Deal with Tata Motors
>
>
> K A Z A K H S T A N
>
> BESARYK-2 LLP: Claims Registration Ends March 23
> BI-COMPANY LLP: Creditors' Claims Due March 23
> CLEANBERRY LLP: Creditors Must File Claims by March 23
> ELEUTAL LLP: Proof of Claim Deadline Slated for March 23
> GRANT MK: Claims Registration Ends March 30
>
> ILYASOV LLP: Claims Filing Period Ends March 23
> PAVLODARENERGOREMSERVICE: Court Starts Bankruptcy Proceedings
> RUSSKAYA MERA: Proof of Claim Deadline Slated for March 23
> TRANS SIGNAL-2: Claims Filing Period Ends March 30
> ZERNOCONTRACT LLP: Creditors' Claims Due March 23
>
>
> K Y R G Y Z S T A N
>
> SHUKRY CONSULTING: Claims Filing Period Ends March 30
> SPETSMONTAJNALADKA LLC: Creditors' Claims Due March 30
>
>
> L U X E M B O U R G
>
> NORTEL NETWORKS: Plans No More Job Cuts as Wireless Growth Seen
>
>
> N E T H E R L A N D S
>
> PANGAEA ABS: Fitch Assigns BB- Rating to EUR5-Mln Class F Notes
>
>
> R U S S I A
>
> AGRO-SEVER OJSC: Creditors Must File Claims by February 27
> AMBER LLC: Creditors Must File Claims by March 27
> ASTRA OJSC: Creditors Must File Claims by March 27
> BEL-MOR-WOOD-PROM: Murmansk Bankruptcy Hearing Slated for May 15
> CHEPETSKAYA FURNITURE: Court Starts External Bankruptcy Process
>
> CHERNOYARSKIY BRICKWORKS: Creditors Must File Claims by Feb. 27
> ELEKTROWNIA TUROW: Fitch Lifts Ratings to B on Government's Plan
> GORODETSKIY SHIP: Creditors Must File Claims by March 27
> IPOC INT'L: Finance Minister Paula Cox Seeks Firm's Liquidation
> MOBILE TELESYSTEMS: Reveals Subscriber Growth for January 2007
>
> PAVLOVSKIY BAKERY: Creditors Must File Claims by April 27
> PROGRESS OJSC: Asset Sale Slated for February 28
> RONIIS OJSC: Creditors Must File Claims by February 27
> STEPANOVSKIY OJSC: Creditors Must File Claims by March 27
> TANTAL-M CJSC: Saratov Bankruptcy Hearing Slated for April 17
>
> TRANS-STROY ENGINEERING: Creditors Must File Claims by March 27
> TRANSNEFT OAO: To Issue Us$500-Mln Eurobonds to Fund Projects
> VOLZHSKIYE TRAVELS: Court Names R. Farrakhov to Manage Assets
> VOLGA CJSC: Creditors Must File Claims by February 27
>
>
> S W I T Z E R L A N D
>
> ARRO FORESTAL: Creditors' Liquidation Claims Due March 5
> FINAVEST JSC: Creditors' Liquidation Claims Due March 1
> KUNINFO FINANZDIENSTLEISTUNGEN: Liquidation Claims Due March 5
> PITA HANDELS: Creditors' Liquidation Claims Due March 13
> RHYN JSC: Claims Registration Period Ends March 2
>
> ROTH TRANSPORT: Bern Court Closes Bankruptcy Proceedings
> TELLENBACH HIFI: Creditors' Liquidation Claims Due March 5
> TEMPHRM JSC: Creditors' Liquidation Claims Due March 5
> TRAVELLER'S PLACE: Aargau Court Starts Bankruptcy Proceedings
> UNIPAT JSC: Creditors' Liquidation Claims Due March 5
>
>
> T U R K E Y
>
> CALIK HOLDING: Fitch Assigns B+ Ratings to US$200-Mln Notes
>
>
> U K R A I N E
>
> IVANICHIAL AGRICULTURAL: Creditors Must Submit Claims by March 4
> KOMPTRANS-CO LLC: Claims Submission Deadline Set March 4
> MAGNESIUM CJSC: Creditors Must Submit Claims by March 4
> MAHARINCI-SUGAR LLC: Claims Submission Deadline Set March 4
> NOHRA LLC: Claims Submission Deadline Set March 4
>
> SIVER LLC: Creditors Must Submit Claims by March 4
>
>
> U N I T E D   K I N G D O M
>
> ADVANCED MARKETING: Hires Focus Management as Financial Advisor
> ADVANCED MARKETING: Panel Objects to Capstone as Advisor
> ARCSTREAM AV: Creditors' Meeting Slated for March 2
> AUTOWORLD DISCOUNTS: Creditors' Meeting Slated for February 26
> BAA PLC: Unveils Redevelopment Plans for Heathrow's Terminal 3
>
> BLUE LAMP: Creditors' Meeting Slated for February 22
> CDO ELECTRONICS: Appoints Laurence Pagden as Liquidator
> COLLINS & AIKMAN: Has Until Feb. 20 to Mail Solicitation Papers
> COLLINS & AIKMAN: Wachovia Has Until Feb. 28 to Answer Charge
> COLLINS SERVICES: Creditors Confirm Liquidators' Appointment
>
> ELVA FUNDING: S&P Puts Class IV_2016's BB+ Rating on Watch
> GENERAL MOTORS: In Talks on Possible Purchase of Chrysler Group
> FORD MOTOR: Russian Workers Go Back to Work After One-Day Strike
> GRACECHURCH CORPORATE: Moody's Rates Four Debt Classes at Low-B
> HAIRFLAIR MAGAZINES: Joint Liquidators Take Over Operations
>
> J. E. NOZEDAR: Hires Liquidators from Taylor Rowlands
> JAMES ROSS: Appoints Joint Administrators from PwC
> KITCHEN DESIGN: Creditors' Meeting Slated for February 23
> LAWYERS 4 ALL: Creditors Confirm Liquidators' Appointment
> LINEA CLOTHING: Creditors' Meeting Slated for February 22
>
> LINK BUILDING: Claims Filing Period Ends March 22
> LONDON WALL: S&P Puts Class E Notes' BB+ Rating on Watch
> LPC CHEMICAL: Claims Filing Period Ends March 30
> M J FIRE: Creditors' Meeting Slated for February 22
> NORTHAMPTON ALUMINIUM: Creditors Confirm Voluntary Liquidation
>
> OXYGEN TRADING: Brings In Liquidators from Gerald Edelman
> PRIME TRANSPORT: Creditors' Meeting Slated for February 26
> PULSE AUTOMATION: Creditors Confirm Liquidator's Appointment
> SMILES ON FACES: Creditors' Meeting Slated for February 21
> SPECTRUM PROPERTY: Creditors' Meeting Slated for February 21
>
> STEVE MELLOR: Joint Liquidators Take Over Operations
> TIMBER BUILDING: Creditors' Meeting Slated for February 21
> TONY HOUSE: Taps Gary Stones to Liquidate Assets
> URBAN LEISURE: Creditors' Meeting Slated for February 22
> WEBSTER COMPONENTS: Creditors' Meeting Slated for February 22
>
> * BOND PRICING: For the Week February 12 to February 17, 2007
>
>
>                             *********
>
>
> =============
> A U S T R I A
> =============
>
>
> A. ROTTER: Claims Registration Period Ends March 13
> ---------------------------------------------------
> Creditors owed money by LLC A. Rotter (FN 161450b) have until
> March 13 to file written proofs of claim to court-appointed
> estate administrator Stefan Langer at:
>
>          Dr. Stefan Langer
>          Oelzeltgasse 4
>          1030 Vienna
>          Austria
>          Tel: 712 63 02
>          Fax: 713619222
>          E-mail: kanzlei@kosesnik-langer.at
>
> Creditors and other interested parties are encouraged to attend
> the creditors' meeting at 10:15 a.m. on March 27 for the
> examination of claims.
>
> The meeting of creditors will be held at:
>
>          The Trade Court of Vienna
>          Room 1607
>          16th Floor
>          Vienna, Austria
>
> Headquartered in Vienna, Austria, the Debtor declared bankruptcy
> on Jan. 30 (Bankr. Case No. 28 S 13/07a).
>
>
> ANGEL GEBAUDEREINIGUNG: Creditors' Meeting Slated for March 12
> --------------------------------------------------------------
> Creditors owed money by LLC Angel Gebaudereinigung (FN 238704k)
> are encouraged to attend the creditors' meeting at 11:00 a.m. on
> March 12 for the examination of claims.
>
> The creditors' meeting will be held at:
>
>          The Trade Court of Vienna
>          Room 1705
>          Vienna, Austria
>
> Headquartered in Vienna, Austria, the Debtor declared bankruptcy
> on Sept. 8, 2006 (Case No. 3 S 129/06z).  Michael Neuhauser
> serves as the court-appointed estate administrator of the
> Debtor.  Stefan Jahns represents Mag. Neuhauser in the
> bankruptcy proceedings.
>
> The estate administrator can be reached at:
>
>          Mag. Michael Neuhauser
>          c/o Mag. Stefan Jahns
>          Esslinggasse 9
>          1010 Vienna
>          Austria
>          Tel: 536 50-0
>          Fax: 536 50-14
>          E-mail: officewien@aaa-law.at
>
>
> BLEY LLC: Estate Administrator Declares Insufficient Assets
> -----------------------------------------------------------
> Dr. Thomas Mair, the court-appointed estate administrator for
> LLC Bley (FN 209940k), declared Jan. 29 that the Debtor's
> property is insufficient to cover creditors' claim.
>
> The Land Court of Wels is yet to rule on the property manager's
> claim.
>
> Headquartered in Ebensee, Austria, the Debtor declared
> bankruptcy on Jan. 9 (Bankr. Case No. 20 S 5/07x).
>
> The property manager can be reached at:
>
>          Dr. Thomas Mair
>          Kurhausstrasse 9
>          4820 Bad Ischl
>          Austria
>          Tel: 06132/23517
>          Fax: 06132/23517-9
>          E-mail: thomas.mair@rechtsangelegenheiten.at
>
>
> ECKL & PARTNER: Claims Registration Period Ends March 13
> --------------------------------------------------------
> Creditors owed money by KEG Eckl & Partner (FN 22827w) have
> until March 13 to file written proofs of claim to court-
> appointed estate administrator Friedrich Nusterer at:
>
>          Dr. Friedrich Nusterer
>          Riemerplatz 1
>          3100 St. Poelten
>          Austria
>          Tel: 02742/47087
>          Fax: 02742/47089
>          E-mail: ra-nusterer@aon.at
>
> Creditors and other interested parties are encouraged to attend
> the creditors' meeting at 11:30 a.m. on April 3 for the
> examination of claims.
>
> The meeting of creditors will be held at:
>
>          The Land Court of St. Poelten
>          Room 216
>          Second Floor (Old Building)
>          St. Poelten, Austria
>
> Headquartered in St. Poelten, Austria, the Debtor declared
> bankruptcy on Jan. 29 (Bankr. Case No. S 214/06w).
>
>
> MURAT KAYADELEN: Claims Registration Period Ends March 28
> ---------------------------------------------------------
> Creditors owed money by KEG Murat Kayadelen (FN 206837y) have
> until March 28 to file written proofs of claim to court-
> appointed estate administrator Andrea Eisner at:
>
>          Mag. Andrea Eisner
>          Weyrgasse 8/7
>          1030 Vienna
>          Austria
>          Tel: 712 04 77
>          Fax: 712 04 77-12
>          E-mail: office@ra-eisner.at
>
> Creditors and other interested parties are encouraged to attend
> the creditors' meeting at 9:45 a.m. on April 11 for the
> examination of claims.
>
> The meeting of creditors will be held at:
>
>          The Trade Court of Vienna
>          Room 1705
>          Vienna, Austria
>
> Headquartered in Vienna, Austria, the Debtor declared bankruptcy
> on Jan. 30 (Bankr. Case No. 3 S 11/07y).
>
>
> RAMADANI KEG: Claims Registration Period Ends March 7
> -----------------------------------------------------
> Creditors owed money by KEG Ramadani (FN 258158w) have until
> March 7 to file written proofs of claim to court-appointed
> estate administrator Herbert Nigl at:
>
>          Mag. Herbert Nigl
>          c/o Mag. Horst Winkelmayr
>          Hauptplatz 15
>          2100 Korneuburg
>          Austria
>          Tel: 02262/724 35
>          Fax: 02262/724 35 50
>          E-mail: rae@kniwi.at
>
> Creditors and other interested parties are encouraged to attend
> the creditors' meeting at 10:00 a.m. on March 21 for the
> examination of claims.
>
> The meeting of creditors will be held at:
>
>          The Land Court of Korneuburg
>          Room 204
>          Second Floor
>          Korneuburg, Austria
>
> Headquartered in Stockerau, Austria, the Debtor declared
> bankruptcy on Jan. 30 (Bankr. Case No. 36 S 12/07t).
> Horst Winkelmayr represents Mag. Nigl in the bankruptcy
> proceedings.
>
>
> S BAU: Claims Registration Period Ends March 15
> -----------------------------------------------
> Creditors owed money by LLC S Bau - u. Planung (FN 218180d) have
> until March 15 to file written proofs of claim to court-
> appointed estate administrator Friedrich Filzmaier at:
>
>          Mag. Friedrich Filzmaier
>          Herrengasse 22/2
>          8010 Graz
>          Austria
>          Tel: 0316/82 02 02
>          Fax: 0316/82 02 02 20
>          E-mail: filzmaier@mekf.at
>
> Creditors and other interested parties are encouraged to attend
> the creditors' meeting at 2:20 p.m. on March 29 for the
> examination of claims.
>
> The meeting of creditors will be held at:
>
>          The Land Court of Graz
>          Hall L (Room 230)
>          Second Floor
>          Graz, Austria
>
> Headquartered in Graz, Austria, the Debtor declared bankruptcy
> on Jan. 29 (Bankr. Case No. 25 S 1/07w).
>
>
> SOFIX-BAU: Claims Registration Period Ends March 29
> ---------------------------------------------------
> Creditors owed money by LLC SOFIX-Bau (FN 227727v) have until
> March 29 to file written proofs of claim to court-appointed
> estate administrator Horst Winkelmayr at:
>
>          Mag. Horst Winkelmayr
>          c/o Dr. Carl Knittl
>          Porzellangasse 22A/7
>          1090 Vienna, Austria
>          Tel: 532 47 77
>          Fax: 532 47 77 50
>          E-mail: rae@kniwi.at
>
> Creditors and other interested parties are encouraged to attend
> the creditors' meeting at 10:00 a.m. on April 12 for the
> 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. 26 (Bankr. Case No. 6 S 8/07d).  Carl Knittl represents
> Mag. Winkelmayr in the bankruptcy proceedings.
>
>
> STAHLBAU HEIDENREICH: Claims Registration Period Ends March 9
> -------------------------------------------------------------
> Creditors owed money by LLC Stahlbau Heidenreich (FN 49469z)
> have until March 9 to file written proofs of claim to court-
> appointed estate administrator Gottfried Berdnik at:
>
>          Dr. Gottfried Berdnik
>          Schloegelgasse 1
>          8010 Graz
>          Austria
>          Tel: 0316/832527
>          Fax: 0316/814315
>          E-mail: graz@hba.at
>
> Creditors and other interested parties are encouraged to attend
> the creditors' meeting at 11:40 a.m. on March 15 for the
> examination of claims.
>
> The meeting of creditors will be held at:
>
>          The Land Court of Graz
>          Room 222
>          Second Floor
>          Graz, Austria
>
> Headquartered in Graz, Austria, the Debtor declared bankruptcy
> on Jan. 26 (Bankr. Case No. 26 S 8/07g).
>
>
> ===========================
> C Z E C H   R E P U B L I C
> ===========================
>
>
> TIBA DVUR: Court Appoints S. Kuzela as Bankruptcy Administrator
> ---------------------------------------------------------------
> The Hradec Kralove Regional Court declared iba Dvur Kralove nad
> Labem bankrupt and appointed Stanilav Kuzelam as bankruptcy
> administrator, the Prague Daily Monitor reports.
>
> The company, which has 550 employees, lists over 1,000 creditors
> with claims amounting to nearly CZK600 million (EUR21 million),
> the report says.
>
> Tiba had proposed an out-of-court settlement in June 2006;
> however, its creditors rejected the proposal in January, driving
> the company to the brink of bankruptcy, the Prague Daily Monitor
> relates.
>
> According to the report, the company insists that all of the
> applications to declare it bankrupt filed from May 2003 until
> the end of 2005 were unjustifiable and were all based on
> questionable claims.
>
> "Although [Tiba's] board of directors and management are
> convinced that [out-of-court] settlement gives creditors greater
> guarantee of the settlement of their claims and enables to
> maintain production and employment in the region, the proposal
> for settlement had not been accepted," Tiba said in a statement
> sent to the Czech News Agency.
>
> According to the statement, the company can comply with the
> creditors' claims as long as it maintains its present
> production.
>
> "But if production winds up immediately . . . most assets will
> at once lose most of their current value," Tiba added in its
> statement.
>
> Tiba reported a CZK225 million (EUR8 million) loss in 2005 and
> has laid off more than half of its 1,200 employees since then,
> the Prague Daily Monitor states.
>
> Zdenek Smid, head of the regional employment office, has
> expressed his desire to discuss the future of all Tiba employees
> with Mr. Kuzelam in March, the Prague Daily Monitor reveals.
>
>                            About Tiba
>
> Based in Dvur Kralove nad Labem, Tiba Dvur Kralove nad Labem --
> http://www.tiba.cz/-- is the largest Czech maker of printed
> textiles.  It posted a loss of CZK153 million (EUR5 million) in
> 2004.
>
> The company reported sales of around CZK700 million
> (EUR25 million) on a loss of CZK225 million (EUR8 million) in
> 2005.
>
>
> ===========
> F R A N C E
> ===========
>
>
> ALCATEL-LUCENT: Job Cuts to Affect Research & Development Unit
> --------------------------------------------------------------
> Alcatel-Lucent will decrease the workforce of its Research and
> Development department as part of its company-wide plan to shed
> 12,500 jobs and cut costs, Bloomberg News reports.
>
> "We have to participate, at least to a certain extent, in the
> company's cost-reduction efforts," Olivier Baujard, Alcatel-
> Lucent's Chief Technology Officer, told Bloomberg News.
>
> Mr. Baujard, however, noted that Alcatel-Lucent's R&D unit,
> which employs around 23,000 people, would still hire researchers
> despite the jobs cuts.
>
> In a TCR-Europe report on Feb. 13, Alcatel-Lucent said some
> 3,500 workers will be laid off on top of the 9,000 originally
> disclosed by the company following the Alcatel-Lucent merger.
> The increase in job cuts came after the combined company
> reported a EUR618 million net loss on EUR4.42 billion in net
> revenues for the fourth quarter 2006.  The figures reflect the
> first for which the newly merged telecommunications-equipment
> maker reported combined earnings, the Wall Street Journal
> reported.
>
> Alcatel-Lucent CEO Patricia 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 added 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
>
>
> VALASSIS COMM: Moody's Rates Proposed US$590-Mln Notes at B3
> ------------------------------------------------------------
> Moody's Investors Service assigned a B3 rating to Valassis
> Communications Inc.'s proposed US$590-million of fixed and
> floating rate senior unsecured notes due 2015.
>
> Moody's Feb. 12, 2007 rating action on Valassis contemplated the
> issuance of US$590-million of junior debt in conjunction with
> the acquisition of ADVO and the company's existing ratings are
> not affected by the issuance of the new senior unsecured notes.
> Valassis' Corporate Family rating is B1 and the rating outlook
> remains stable.
>
> Ratings Assigned:
>
>    * Valassis Communications, Inc.
>
>    -- Guaranteed Senior Unsecured Regular Bond/Debenture,
>       Assigned B3 (LGD5-79)
>
> Headquartered in Livonia, MI, Valassis Communications Inc.
> offers a wide range of promotional and advertising products
> including newspaper advertising and inserts, shared mail,
> sampling, targeted marketing, coupon clearing and consulting and
> analytic services.  Annual revenue will be around US$2.5 billion
> upon completion of the ADVO acquisition.
>
>
> =============
> G E R M A N Y
> =============
>
>
> ALBERT JAGER: Claims Registration Ends March 21
> -----------------------------------------------
> Creditors of Albert Jager GmbH have until March 21 to register
> their claims with court-appointed insolvency manager
> Juergen Roth.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 2:15 p.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 Kaiserslautern
>          Hall 11
>          Bahnhofstr. 24
>          67655 Kaiserslautern
>          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 Roth
>          Fritz-Wunderlich-Strasse 49 d
>          66869 Kusel
>          Germany
>          Tel: 06381-92250
>          Fax: 06381-922539
>
> The District Court of Kaiserslautern opened bankruptcy
> proceedings against Albert Jager GmbH on Feb. 1.  Consequently,
> all pending proceedings against the company have been
> automatically stayed.
>
> The Debtor can be contacted at:
>
>          Albert Jager GmbH
>          Attn: Albert Jager, Manager
>          Dausemannstal 2
>          67806 Rockenhausen
>          Germany
>
>
> ALU KUNSTSTOFF-TECHNIK: Claims Registration Period Ends March 16
> ----------------------------------------------------------------
> Creditors of Alu Kunststoff-Technik fuer Automobile GmbH have
> until March 16 to register their claims with court-appointed
> insolvency manager Henning Schorisch.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 11:00 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 Fuerth
>          Hall 3/II
>          Ground Floor
>          Office Building
>          Baumenstrasse 32
>          Fuerth
>          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:
>
>          Henning Schorisch
>          Nordostpark 12
>          90411 Nuremberg
>          Germany
>          Tel: 0911 756610
>          Fax: 0911 7566113
>
> The District Court of Fuerth opened bankruptcy proceedings
> against Alu Kunststoff-Technik fuer Automobile GmbH on Feb. 1.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be contacted at:
>
>          Alu Kunststoff-Technik fuer Automobile GmbH
>          Eichendorffstr. 21
>          91334 Hemhofen
>          Germany
>
>
> BACKEREI FENUTA: Claims Registration Period Ends February 28
> ------------------------------------------------------------
> Creditors of Backerei Fenuta GmbH have until Feb. 28 to register
> their claims with court-appointed insolvency manager
> Volker Schmidt.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 8:00 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 Stuttgart
>          Hall 4
>          Ground Floor
>          Hauffstr. 5
>          70190 Stuttgart
>          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:
>
>          Volker Schmidt
>          Birkenwaldstr. 151
>          70191 Stuttgart
>          Germany
>          Tel: 0711/25 35 913
>          Fax: 0711/25 35 91 55
>
> The District Court of Stuttgart opened bankruptcy proceedings
> against Backerei Fenuta GmbH on Jan. 30.  Consequently, all
> pending proceedings against the company have been automatically
> stayed.
>
> The Debtor can be contacted at:
>
>          Backerei Fenuta GmbH
>          Attn: Sirignano Propizio, Manager
>          Langwiesenweg 30
>          70327 Stuttgart
>          Germany
>
>
> CMB BEROLINA: Creditors' Meeting Slated for March 20
> ----------------------------------------------------
> The court-appointed insolvency manager for CMB Berolina Bowling
> GmbH + Co. KG, Juergen Spliedt, will present his first report on
> the Company's insolvency proceedings at a creditors' meeting at
> 10:55 a.m. on March 20.
>
> The meeting of creditors and other interested parties will be
> held at:
>
>          The District Court of Charlottenburg
>          Second Stock Hall 218
>          Amtsgerichtsplatz 1
>          14057 Berlin
>          Germany
>
> The Court will also verify the claims set out in the insolvency
> manager's report at 10:30 a.m. on May 22 at the same venue.
>
> Creditors have until March 22 to register their claims with the
> court-appointed insolvency manager.
>
> The insolvency manager can be reached at:
>
>          Dr. Juergen Spliedt
>          Uhlandstr. 165/166
>          10719 Berlin
>          Germany
>
> The District Court of Charlottenburg opened bankruptcy
> proceedings against CMB Berolina Bowling GmbH + Co. KG on
> Feb. 1.  Consequently, all pending proceedings against the
> company have been automatically stayed.
>
> The Debtor can be reached at:
>
>          CMB Berolina Bowling GmbH + Co. KG
>          Kleiststr. 3-6
>          10787 Berlin
>          Germany
>
>
> DAIMLERCHRYSLER: Chrysler Group In Talks with General Motors
> ------------------------------------------------------------
> DaimlerChrysler AG and General Motors Corp. are in talks about a
> possible purchase of the Chrysler Group by GM, according to
> German publication Manager Magazin.
>
> According to various news agencies, DaimlerChrysler hired
> JPMorgan for advice regarding strategic alternatives.
>
> In a TCR report on Feb. 15, DaimlerChrysler Chairman of the
> Board of Management Dr. Dieter Zetsche said, "... in order to
> optimize and accelerate the presented plan, we are looking into
> further strategic options with partners....  In this regard, we
> do not exclude any option in order to find the best solution for
> both the Chrysler Group and DaimlerChrysler."
>
> GM and DaimlerChrysler AG's Chrysler Group are also in talks of
> an alliance to share costs of chassis designs and reduce
> development expenses for a large sport utility vehicle, Jeff
> Green and Jeff Bennett of Bloomberg report citing people
> familiar with the talks.
>
> GM and the Chrysler Group have been discussing the matter for
> six months without reaching an agreement, the Wall Street
> Journal notes.
>
>                     About General Motors Corp.
>
> General Motors Corp. (NYSE: GM) -- http://www.gm.com/-- is the
> world's largest automaker and has been the global industry sales
> leader since 1931.  Founded in 1908, GM employs about 284,000
> people around the world.  It has manufacturing operations in 33
> countries and its vehicles are sold in 200 countries.  GM sells
> cars and trucks under these brands: Buick, Cadillac, Chevrolet,
> GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and
> Vauxhall.
>
>                        About DaimlerChrysler
>
> Based in Stuttgart, Germany, DaimlerChrysler AG --
> http://www.daimlerchrysler.com/-- develops, manufactures,
> distributes, and sells various automotive products, primarily
> passenger cars, light trucks, and commercial vehicles worldwide.
> It primarily operates in four segments: Mercedes Car Group,
> Chrysler Group, Commercial Vehicles, and Financial Services.
>
> The Chrysler Group segment offers cars and minivans, pick-up
> trucks, sport utility vehicles, and vans under the Chrysler,
> Jeep, and Dodge brand names.  It also sells parts and
> accessories under the MOPAR brand.
>
> The Chrysler Group is facing a difficult market environment in
> the United States with excess inventory, non-competitive legacy
> costs for employees and retirees, continuing high fuel prices
> and a stronger shift in demand toward smaller vehicles.  At the
> same time, key competitors have further increased margin and
> volume pressures -- particularly on light trucks -- by making
> significant price concessions.  In addition, increased interest
> rates caused higher sales & marketing expenses.
>
> In order to improve the earnings situation of the Chrysler Group
> as quickly and comprehensively, measures to increase sales and
> cut costs in the short term are being examined at all stages of
> the value chain, in addition to structural changes being
> reviewed as well.
>
>
> DATA-MEDIA: Claims Registration Period Ends March 30
> ----------------------------------------------------
> Creditors of Data-Media-File GmbH Digitales have until March 30
> to register their claims with court-appointed insolvency manager
> Norbert Westhoff.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 11:15 a.m. on April 20, 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 contacted at:
>
>          Dr. Norbert Westhoff
>          Adenauerplatz 4
>          33602 Bielefeld
>          Germany
>
> The District Court of Bielefeld opened bankruptcy proceedings
> against Data-Media-File GmbH Digitales on Feb. 1.  Consequently,
> all pending proceedings against the company have been
> automatically stayed.
>
> The Debtor can be contacted at:
>
>          Data-Media-File GmbH Digitales
>          Attn: Braun Waldemar and Juergen Nolte, Managers
>          Hermannstr. 26
>          33602 Bielefeld
>          Germany
>
>
> EUROPLEASING AG: Claims Registration Period Ends March 23
> ---------------------------------------------------------
> Creditors of EuropLeasing AG & Co. Financial Solutions KG have
> until March 23 to register their claims with court-appointed
> insolvency manager Stefan Denkhaus.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 10:30 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 Hamburg
>          Hall B 405
>          Fourth Floor Annex
>          Civil Justice Bldg.
>          Sievkingplatz 1
>          20355 Hamburg
>          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:
>
>          Stefan Denkhaus
>          Jungfernstieg 30
>          20354 Hamburg
>          Germany
>
> The District Court of Hamburg opened bankruptcy proceedings
> against EuropLeasing AG & Co. Financial Solutions KG on Feb. 2.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be contacted at:
>
>          EuropLeasing AG & Co. Financial Solutions KG
>          Bergedorfer Schlossstrasse 15
>          21029 Hamburg
>          Germany
>
>
> FOTO WEGERT: Claims Registration Period Ends March 20
> -----------------------------------------------------
> Creditors of Foto Wegert GmbH i.G. have until March 20 to
> register their claims with court-appointed insolvency manager
> Hartwig Albers.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 11:00 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 Frankfurt (Oder)
>          Hall 401
>          Muellroser Chaussee 55
>          15236 Frankfurt (Oder)
>          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:
>
>          Hartwig Albers
>          Luetzowstrasse 100
>          10785 Berlin
>          Germany
>
> The District Court of Frankfurt (Oder) opened bankruptcy
> proceedings against Foto Wegert GmbH i.G. on Feb. 5.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be contacted at:
>
>          Foto Wegert GmbH i.G.
>          Handwerkerstrasse 14
>          15366 Dahlwitz-Hoppegarten
>          Germany
>
>
> FRIEDRICH BAUUNTERNEHMUNG: Claims Registration Ends March 30
> ------------------------------------------------------------
> Creditors of Friedrich Bauunternehmung GmbH have until March 30
> to register their claims with court-appointed insolvency manager
> Harald Hess.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 10:40 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 Kaiserslautern
>          Hall 87
>          Bahnhofstr. 24
>          67655 Kaiserslautern
>          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. Harald Hess
>          W.-Th.-Roemheld-Str. 14
>          55130 Mainz
>          Germany
>          Tel: 06131/2850-0
>          Fax: 06131/2850-28
>
> The District Court of Kaiserslautern opened bankruptcy
> proceedings against Friedrich Bauunternehmung GmbH on Jan. 30.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be contacted at:
>
>          Friedrich Bauunternehmung GmbH
>          Attn: Christine Friedrich, Manager
>          Gutenbergstr. 47
>          67307 Goellheim
>          Germany
>
>
> GREBENSTEIN & LINKE: Claims Registration Period Ends March 20
> -------------------------------------------------------------
> Creditors of Grebenstein & Linke Pflanzenhandel GmbH have until
> March 20 to register their claims with court-appointed
> insolvency manager Boris Reski.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 11:45 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 Pinneberg
>          Hall 3
>          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 contacted at:
>
>          Boris Reski
>          Moltkestrasse 3-5
>          25421 Pinneberg
>          Germany
>
> The District Court of Pinneberg opened bankruptcy proceedings
> against Grebenstein & Linke Pflanzenhandel GmbH on Jan. 26.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be contacted at:
>
>          Grebenstein & Linke Pflanzenhandel GmbH
>          Attn: Carsten Grebenstein and Sven Linke, Managers
>          Dubenhorst 27
>          25474 Ellerbek
>          Germany
>
>
> IGETEC GESELLSCHAFT: Claims Registration Period Ends March 29
> -------------------------------------------------------------
> Creditors of IGETEC Gesellschaft fuer innovative Gebaudetechnik
> mbH have until March 29 to register their claims with court-
> appointed insolvency manager Andre K. Gabel.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 8:40 a.m. on May 10, 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 Frankfurt/Main
>          Hall 1
>          Building F
>          Klingerstrasse 20
>          60313 Frankfurt/Main
>          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:
>
>          Andre K. Gabel
>          Bockenheimer Anlage 7
>          D 60322 Frankfurt/Main
>          Germany
>          Tel: 069/1505963
>          Fax: 069/15059647
>
> The District Court of Frankfurt/Main opened bankruptcy
> proceedings against IGETEC Gesellschaft fuer innovative
> Gebaudetechnik mbH on Feb. 2.  Consequently, all pending
> proceedings against the company have been automatically stayed.
>
> The Debtor can be contacted at:
>
>          IGETEC Gesellschaft fuer innovative Gebaudetechnik mbH
>          Attn: Reinhold Schmidt, Manager
>          Vilbeler Landstrasse 36
>          60386 Frankfurt/Main
>          Germany
>
>
> ITALIA AUTOMOBIL: Claims Registration Ends March 22
> ---------------------------------------------------
> Creditors of Italia Automobil Castrop GmbH have until March 22
> to register their claims with court-appointed insolvency manager
> Frank Imberger.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 10:30 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 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:
>
>          Frank Imberger
>          Huestrasse 34
>          44787 Bochum
>          Germany
>
> The District Court of Bochum opened bankruptcy proceedings
> against Italia Automobil Castrop GmbH on Feb. 1.  Consequently,
> all pending proceedings against the company have been
> automatically stayed.
>
> The Debtor can be reached at:
>
>          Italia Automobil Castrop GmbH
>          Herner Str. 135
>          44575 Castrop-Rauxel
>          Germany
>
>          Attn: Hans-Joachim Boesner, Manager
>          Magdalenenstr. 1
>          44803 Bochum
>          Germany
>
>
> ITALIA AUTOMOBILI: Claims Registration Ends March 20
> ----------------------------------------------------
> Creditors of Italia Automobili Hattingen GmbH have until
> March 20 to register their claims with court-appointed
> insolvency manager Frank Imberger.
>
> 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 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:
>
>          Frank Imberger
>          Huestrasse 34
>          44787 Bochum
>          Germany
>
> The District Court of Bochum opened bankruptcy proceedings
> against Italia Automobili Hattingen GmbH on Feb. 1.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be reached at:
>
>          Italia Automobili Hattingen GmbH
>          Werksstr. 26
>          45527 Hattingen
>          Germany
>
>          Attn: Hans-Joachim Boesner, Manager
>          Magdalenenstr. 1
>          44803 Bochum
>          Germany
>
>
> J.E.M. CONSULTING: Claims Registration Ends March 26
> ----------------------------------------------------
> Creditors of J.E.M. Consulting GmbH have until March 26 to
> register their claims with court-appointed insolvency manager
> Robert Schiebe.
>
> 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 Bingen am Rhein
>          Room 9
>          Gerichtsgebaude
>          Mainzer Str. 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:
>
>          Dr. Robert Schiebe
>          Lauterenstrasse 37
>          55116 Mainz
>          Germany
>          Tel: 06131/693040
>          Fax: 06131/6930411
>
> The District Court of Bingen am Rhein opened bankruptcy
> proceedings against J.E.M. Consulting GmbH on Feb. 2.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be reached at:
>
>          J.E.M. Consulting GmbH
>          Globusallee 3
>          55411 Bingen am Rhein
>          Germany
>
>
> LANGHEIN-HAUS: Claims Registration Ends March 22
> ------------------------------------------------
> Creditors of Langhein-Haus Bauorganisation und Vertriebs GmbH
> have until March 22 to register their claims with court-
> appointed insolvency manager Wilhelm Wessel.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 9:30 a.m. on May 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 Luebeck
>          Hall 256
>          Am Burgfeld 7
>          23568 Luebeck
>          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. Wilhelm Wessel
>          Roeckstr. 1
>          23568 Luebeck
>          Germany
>
> The District Court of Luebeck opened bankruptcy proceedings
> against Langhein-Haus Bauorganisation und Vertriebs GmbH on
> Feb. 2.  Consequently, all pending proceedings against the
> company have been automatically stayed.
>
> The Debtor can be reached at:
>
>          Langhein-Haus Bauorganisation und Vertriebs GmbH
>          Schwertfegerstr. 16-18
>          23556 Luebeck
>          Germany
>
>
> MANTHEO GASTRONOMIE: Creditors' Meeting Slated for March 19
> -----------------------------------------------------------
> The court-appointed insolvency manager for Mantheo Gastronomie
> GmbH, Christian Koehler-Ma, will present his first report on the
> Company's insolvency proceedings at a creditors' meeting at
> 11:45 a.m. on March 19.
>
> The meeting of creditors and other interested parties will be
> held at:
>
>          The District Court of Charlottenburg
>          Second Stock Hall 218
>          Amtsgerichtsplatz 1
>          14057 Berlin
>          Germany
>
> The Court will also verify the claims set out in the insolvency
> manager's report at 10:00 a.m. on June 16 at the same venue.
>
> Creditors have until April 26 to register their claims with the
> court-appointed insolvency manager.
>
> The District Court of Charlottenburg opened bankruptcy
> proceedings against Mantheo Gastronomie GmbH on Feb. 5.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The insolvency manager can be reached at:
>
>          Christian Koehler-Ma
>          Kurfuerstendamm 212
>          10719 Berlin
>          Germany
>
> The Debtor can be reached at:
>
>          Mantheo Gastronomie GmbH
>          Uhlandstr. 185/186
>          10623 Berlin
>          Germany
>
>
> ME-INDUSTRIEANLAGEN GMBH: Claims Registration Ends March 16
> -----------------------------------------------------------
> Creditors of ME-Industrieanlagen GmbH have until March 16 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 9:30 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 14
>          First 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
>          Germany
>          Tel: 069/962334-0
>          Fax: 069/962334-22
>          E-mail: m.plathner@brinkmann-partner.de
>
> The District Court of Darmstadt opened bankruptcy proceedings
> against ME-Industrieanlagen GmbH on Feb. 1.  Consequently, all
> pending proceedings against the company have been automatically
> stayed.
>
> The Debtor can be reached at:
>
>          ME-Industrieanlagen GmbH
>          Attn: Hans-Joachim Meffert and Rainer Meffert, Managers
>          Stahlstr. 34
>          65428 Ruesselsheim
>          Germany
>
>
> METALLBAU HASS: Claims Registration Ends March 23
> -------------------------------------------------
> Creditors of Metallbau Hass GmbH have until March 23 to register
> their claims with court-appointed insolvency manager Ulrich
> Rosenkranz.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 10:15 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 Schwerin
>          Demmlerplatz 14
>          Area 7
>          Schwerin
>          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:
>
>          Ulrich Rosenkranz
>          Osdorfer Landstr. 230
>          22549 Hamburg
>          Germany
>
> The District Court of Schwerin opened bankruptcy proceedings
> against Metallbau Hass GmbH on Jan. 30.  Consequently, all
> pending proceedings against the company have been automatically
> stayed.
>
> The Debtor can be reached at:
>
>          Metallbau Hass GmbH
>          Attn: Karola Hass, Manager
>          vormals Hechtskuhl 4
>          23992 Neukloster
>          Germany
>
>
> MILENIYUM GMBH: Claims Registration Ends March 21
> -------------------------------------------------
> Creditors of MILENIYUM GmbH have until March 21 to register
> their claims with court-appointed insolvency manager
> Christian Krause.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 9:15 a.m. on April 25, 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 Moenchengladbach
>          Meeting Hall A 14
>          Ground Floor
>          Hohenzollernstr. 157
>          41061 Moenchengladbach
>          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:
>
>          Christian Krause
>          Cecilienallee 45
>          40474 Duesseldorf
>          Germany
>          Tel: 0211/658529-0
>          Fax: +4921165852929
>
> The District Court of Moenchengladbach opened bankruptcy
> proceedings against MILENIYUM GmbH on Jan. 31.  Consequently,
> all pending proceedings against the company have been
> automatically stayed.
>
> The Debtor can be reached at:
>
>          MILENIYUM GmbH
>          Langmaar 12
>          41238 Moenchengladbach
>          Germany
>
>          Attn: Uemit-Ali Goeycali, Manager
>          Pfarrer-Bodden-Strasse 7
>          50181 Bedburg
>          Germany
>
>
> NORDWACHT VERWALTUNGS: Claims Registration Ends April 2
> -------------------------------------------------------
> Creditors of Nordwacht Verwaltungs GmbH have until April 2 to
> register their claims with court-appointed insolvency manager
> Jan H. Wilhelm.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 11:16 a.m. on April 25, 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
>          22 Suedergra ben
>          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
>          Al-bert-Einstein-Ring 11
>          22761 Hamburg
>          Germany
>
> The District Court of Flensburg opened bankruptcy proceedings
> against Nordwacht Verwaltungs GmbH on Feb. 1.  Consequently, all
> pending proceedings against the company have been automatically
> stayed.
>
> The Debtor can be reached at:
>
>          Nordwacht Verwaltungs GmbH
>          Attn: Ralph Kempfert, Manager
>          Dorfstrasse 143
>          38524 Sassendorf
>          Germany
>
>
> OST-LEAS DEUTSCHLAND: Claims Registration Ends March 23
> -------------------------------------------------------
> Creditors of Ost-Leas Deutschland GmbH & Co. KG have until
> March 23 to register their claims with court-appointed
> insolvency manager Henning Samisch.
>
> 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 Lueneburg
>          Hall 302
>          Ochsenmarket 3
>          21335 Lueneburg
>          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:
>
>          Henning Samisch
>          Muehlenkamp 59 D
>          22303 Hamburg
>          Germany
>          Tel: 040650390
>          Fax: 04065039199
>
> The District Court of Lueneburg opened bankruptcy proceedings
> against Ost-Leas Deutschland GmbH & Co. KG on Feb. 1.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be reached at:
>
>          Ost-Leas Deutschland GmbH & Co. KG
>          Hans-Joachim Lehmbeck and Carmen Hornbostel, Managers
>          Hittfelder Kirchweg 10
>          21220 Seevetal
>          Germany
>
>
> PAS GMBH: Creditors Must Register Claims by March 19
> ----------------------------------------------------
> Creditors of PAS GmbH Prozess-Automatisierungs-Systeme have
> until March 19 to register their claims with court-appointed
> insolvency manager Markus Stoppelkamp.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 10:00 a.m. on May 7, 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 Passau
>          Meeting Hall 214
>          Second Floor
>          Schustergasse 4
>          Passau
>          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:
>
>          Markus Stoppelkamp
>          Rosstranke 13
>          94032 Passau
>          Tel: 0851/7568151
>          Fax: 0851/75681520
>          Germany
>
> The District Court of Passau opened bankruptcy proceedings
> against PAS GmbH Prozess-Automatisierungs-Systeme on Feb. 1.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be reached at:
>
>          PAS GmbH Prozess-Automatisierungs-Systeme
>          Hauptstr. 8
>          94481 Grafenau
>          Germany
>
>
> PAWLOWSKI INTERNATIONALE: Creditors Must File Claims by March 30
> ----------------------------------------------------------------
> Creditors of Pawlowski Internationale Spedition GmbH Ost-West-
> Transporte have until March 30 to register their claims with
> court-appointed insolvency manager Barbara Beutler.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 9:40 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 Munich
>          Meeting Hall 102
>          Infanteriestr. 5
>          80097 Munich
>          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:
>
>          Barbara Beutler
>          Schwanthalerstr. 32
>          80336 Munich
>          Germany
>          Tel: 089/54511-0
>          Fax: 089/54511-444
>          Germany
>
> The District Court of Munich opened bankruptcy proceedings
> against Pawlowski Internationale Spedition GmbH Ost-West-
> Transporte on Feb. 1.  Consequently, all pending proceedings
> against the company have been automatically stayed.
>
> The Debtor can be reached at:
>
>          Pawlowski Internationale Spedition GmbH Ost-West-
>          Transporte
>          Elly-Staegmeyer-Str. 8
>          80999 Munich
>          Germany
>
>
> PLATO GMBH: Creditors Meeting Slated for March 30
> -------------------------------------------------
> The court-appointed insolvency manager for PLATO GmbH
> Feinmechanik und Blechbau, Christoph Rosenmueller, will present
> his first report on the Company's insolvency proceedings at a
> creditors' meeting at 9:55 a.m. on March 30.
>
> The meeting of creditors and other interested parties will be
> held at:
>
>          The District Court of Charlottenburg
>          Second Stock Hall 218
>          Amtsgerichtsplatz 1
>          14057 Berlin
>          Germany
>
> The Court will also verify the claims set out in the insolvency
> manager's report at 9:30 a.m. on June 29 at the same venue.
>
> Creditors have until April 30 to register their claims with the
> court-appointed insolvency manager.
>
> The insolvency manager can be reached at:
>
>          Christoph Rosenmueller
>          Berliner Str. 117
>          10713 Berlin
>          Germany
>          Germany
>
> The District Court of Charlottenburg opened bankruptcy
> proceedings against PLATO GmbH Feinmechanik und Blechbau on
> Feb. 1.  Consequently, all pending proceedings against the
> company have been automatically stayed.
>
> The Debtor can be reached at:
>
>          PLATO GmbH Feinmechanik und Blechbau
>          Schlesische Str. 29-30
>          10997 Berlin
>          Germany
>
>
> POHLNER INDUSTRIESCHWEISSUNGEN: Proofs of Claim Due March 25
> ------------------------------------------------------------
> Creditors of Pohlner Industrieschweissungen GmbH have until
> March 25 to register their claims with court-appointed
> insolvency manager Sandra Mitter.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 10:00 a.m. on May 9, 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 Kassel
>          Hall 234
>          Friedrichsstrasse 32-34
>          34117 Kassel
>          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:
>
>          Sandra Mitter
>          Wilhelmshoeher Allee 270
>          34131 Kassel
>          Germany
>          Tel: 0561/3166-311
>          Fax: 0561/3166-312
>          E-mail: ks@leonhardt-westhelle.eu
>
> The District Court of Kassel opened bankruptcy proceedings
> against Pohlner Industrieschweissungen GmbH on Jan. 24.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be reached at:
>
>          Pohlner Industrieschweissungen GmbH
>          Attn: Alexandra Pohlner, Manager
>          Rosenweg 4
>          34270 Schauenburg
>          Germany
>
>
> RATSKELLER OSTERODE: Creditors Must Register Claims by March 30
> ---------------------------------------------------------------
> Creditors of Ratskeller Osterode im Historischen Gewoelbe GmbH
> have until March 30 to register their claims with court-
> appointed insolvency manager Torsten Gutmann.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 9:09 a.m. on April 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 Osterode am Harz
>          Hall 12
>          Amtshof 20
>          37520 Osterode am Harz
>          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:
>
>          Torsten Gutmann
>          Zum Blauen See 5
>          31275 Hannover/Lehrte
>          Germany
>          Tel: 05132-8268-38
>          Fax: 05132-8268-96
>          E-mail: Gutmann@luederslaw.de
>
> The District Court of Osterode am Harz opened bankruptcy
> proceedings against Ratskeller Osterode im Historischen Gewoelbe
> GmbH on Feb. 2.  Consequently, all pending proceedings against
> the company have been automatically stayed.
>
> The Debtor can be reached at:
>
>          Ratskeller Osterode im Historischen Gewoelbe GmbH
>          Martin-Luther-Platz 2
>          37520 Osterode am Harz
>          Germany
>
>          Attn: Frank Serfling, Manager
>          Seeblick 10
>          38707 Schulenberg
>          Germany
>
>
> RCS RADIO: Claims Registration Ends March 26
> --------------------------------------------
> Creditors of RCS Radio Communication Services GmbH have until
> March 26 to register their claims with court-appointed
> insolvency manager Stephan Thiemann.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 10:10 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 Halle-Saalkreis
>          Hall 1.043
>          Judicial Center
>          Thueringer Str. 16
>          06112 Halle
>          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. Stephan Thiemann
>          Schorlemmerstrasse 2
>          04155 Leipzig
>          Germany
>          Tel: 0341/4903650
>          Fax: 0341/4903699
>
> The District Court of Halle-Saalkreis opened bankruptcy
> proceedings against RCS Radio Communication Services GmbH on
> Jan. 26.  Consequently, all pending proceedings against the
> company have been automatically stayed.
>
> The Debtor can be reached at:
>
>          RCS Radio Communication Services GmbH
>          Breite Str. 30-32
>          06542 Allstedt
>          Germany
>
>          Attn: Karsten Pille, Manager
>          Am Beinschuh 53
>          06526 Sangerhausen
>          Germany
>
>
> RHEIN-MAIN-BIZZ: Claims Registration Ends March 28
> --------------------------------------------------
> Creditors of Rhein-Main-Bizz GmbH have until March 28 to
> register their claims with court-appointed insolvency manager
> Fatma Kreft.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 9:40 a.m. on May 9, 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 Frankfurt/Main
>          Hall 2
>          Building F
>          Klingerstrasse 20
>          60313 Frankfurt/Main
>          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:
>
>          Fatma Kreft
>          Neue Mainzer Str. 84
>          60311 Frankfurt am Main
>          Germany
>          Tel: 069/67736770
>          Fax: 069/677367720
>
> The District Court of Frankfurt/Main opened bankruptcy
> proceedings against Rhein-Main-Bizz GmbH on Feb. 1.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be reached at:
>
>          Rhein-Main-Bizz GmbH
>          Werner-von-Siemens-Str. 1 4-6
>          65719 Hofheim am Taunus
>          Germany
>
>
> ROBERT KEVECORDES: Claims Registration Ends March 30
> ----------------------------------------------------
> Creditors of Robert Kevecordes Holzhandlung GmbH & Co. KG have
> until March 30 to register their claims with court-appointed
> insolvency manager Martin Buchheister.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 9:15 a.m. on May 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 Arnsberg
>          Meeting Room 328
>          Eichholzstr. 4
>          59821 Arnsberg
>          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 Buchheister
>          Rathausplatz 21-23
>          58507 Luedenscheid
>          Germany
>
> The District Court of Arnsberg opened bankruptcy proceedings
> against Robert Kevecordes Holzhandlung GmbH & Co. KG on Feb. 1.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be reached at:
>
>          Robert Kevecordes Holzhandlung GmbH & Co. KG
>          Am Sonneneck 6
>          59889 Eslohe
>          Germany
>
>          Attn: Theodor Kevecordes, Manager
>          Am Bahnhof 9
>          57392 Schmallenberg
>          Germany
>
>
> SANITATSHAUS RUEDIGER: Claims Registration February 23
> ------------------------------------------------------
> Creditors of Sanitatshaus Ruediger Koenen GmbH & Co. KG have
> until Feb. 23 to register their claims with court-appointed
> insolvency manager Henning Samisch.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at noon 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 Cuxhaven
>          Hall 112
>          Old Building
>          Deichstr. 12 A
>          27472 Cuxhaven
>          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:
>
>          Henning Samisch
>          Muehlenkamp 59
>          22303 Hamburg
>          Germany
>          Tel: 040 65039-0
>          Fax: 040 65039-199
>
> The District Court of Cuxhaven opened bankruptcy proceedings
> against Sanitatshaus Ruediger Koenen GmbH & Co. KG on Feb. 1.
> Consequently, all pending proceedings against the company have
> been automatically stayed.
>
> The Debtor can be reached at:
>
>          Sanitatshaus Ruediger Koenen GmbH & Co. KG
>          Attn: Ruediger Koenen, Manager
>          Bergstr. 17
>          27624 Bad Bederkesa
>          Germany
>
>
> SPECHT LEUCHTEN: Claims Registration Period Ends March 28
> ---------------------------------------------------------
> Creditors of Specht Leuchten GmbH have until March 28 to
> register their claims with court-appointed insolvency manager
> Dr. Reinhard Th. Schmid.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 8:00 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 Stuttgart
>          Room 4
>          Ground Floor
>          Hauffstr. 5
>          70190 Stuttgart
>          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. Reinhard Th. Schmid
>          Hasenbergsteige 5
>          70178 Stuttgart
>          Germany
>          Tel: 0711/66 90 70
>          Fax: 0711/66 45 068
>
> The District Court of Stuttgart opened bankruptcy proceedings
> against Specht Leuchten GmbH on Feb. 2.  Consequently, all
> pending proceedings against the company have been automatically
> stayed.
>
> The Debtor can be reached at:
>
>          Specht Leuchten GmbH
>          Konigstr. 26
>          70173 Stuttgart
>          Germany
>
>
> SZCZESNY GMBH: Claims Registration Period Ends April 10
> -------------------------------------------------------
> Creditors of Szczesny GmbH have until April 10 to register their
> claims with court-appointed insolvency manager Torsten Gutmann.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 10:30 a.m. on May 8, 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 Hanover
>          Hall 226
>          Second Upper Floor
>          Service Bldg.
>          Hamburger Allee 26
>          30161 Hanover
>          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:
>
>          Torsten Gutmann
>          Kriegerstrasse 44
>          30161 Hanover
>          Germany
>          Tel: 0511 2206268-0
>          Fax: 0511 2206268-9
>
> The District Court of Hanover opened bankruptcy proceedings
> against Szczesny GmbH on Feb. 1.  Consequently, all pending
> proceedings against the company have been automatically stayed.
>
> The Debtor can be reached at:
>
>          Szczesny GmbH
>          Owiedenfeldstr. 12
>          30559 Hanover
>          Germany
>
>
> WALLMEIER HAIR: Claims Registration Period Ends March 28
> --------------------------------------------------------
> Creditors of Wallmeier Hair Frankfurt am Main GmbH have until
> March 28 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 9:30 a.m. on May 9, 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 Frankfurt/Main
>          Hall 2
>          Building F
>          Klingerstrasse 20
>          60313 Frankfurt/Main
>          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/Main
>          Germany
>          Tel: 069/9623340
>          Fax: 069/96233422
>
> The District Court of Frankfurt/Main opened bankruptcy
> proceedings against Wallmeier Hair Frankfurt am Main GmbH on
> Feb. 2.  Consequently, all pending proceedings against the
> company have been automatically stayed.
>
> The Debtor can be reached at:
>
>          Wallmeier Hair Frankfurt/Main GmbH
>          Goethestrasse 29
>          60313 Frankfurt/Main
>          Germany
>
>
> ZETTLITZ GMBH: Claims Registration Period Ends March 23
> -------------------------------------------------------
> Creditors of Zettlitz GmbH have until March 23 to register their
> claims with court-appointed insolvency manager Jens Wilhelm.
>
> Creditors and other interested parties are encouraged to attend
> the meeting at 10:00 a.m. on April 25, 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 Hanover
>          Hall 226
>          Second Upper Floor
>          Service Bldg.
>          Hamburger Allee 26
>          30161 Hanover
>          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:
>
>          Jens Wilhelm
>          V. Oskar-Winter-Str. 8
>          30161 Hanover
>          Germany
>          Tel: 0511 696846-0
>          Fax: 0511 696846-79
>
> The District Court of Hanover opened bankruptcy proceedings
> against Zettlitz GmbH on Feb. 1.  Consequently, all pending
> proceedings against the company have been automatically stayed.
>
> The Debtor can be reached at:
>
>          Zettlitz GmbH
>          Wallstr. 11
>          31535 Neustadt
>          Germany
>
>
> =============
> H U N G A R Y
> =============
>
>
> BORSODCHEM NYRT: Earns HUF14.6 Billion for Fourth Quarter 2006
> --------------------------------------------------------------
> Borsodchem Nyrt. released its unaudited financial results for
> fourth quarter ended Dec. 31, 2006.
>
> Borsodchem reported HUF14.6 billion in net income against
> HUF242.9 billion in net sales for the fourth quarter ended
> Dec. 31, 2006, compared with HUF13.8 billion in net income
> against HUF172.9 billion in net sales for the same period in
> 2005.
>
> At Dec. 31, 2006, the Company's balance sheet showed HUF288.7
> billion in total assets and HUF139.8 billion in total
> liabilities, resulting in GBP148.9 billion in shareholders'
> equity.
>
> The Company's Dec. 31 balance sheet also showed strained
> liquidity with HUF73.7 billion in total current assets available
> to pay HUF88.7 billion in total liabilities coming due within
> the next 12 months.
>
> Full-text copies of the company's financial statements for the
> quarter ended Dec. 31, 2006, is available for free at
> http://ResearchArchives.com/t/s?19ec
>
>                         About BorsodChem
>
> Headquartered in Kazincbarcika, Hungary, BorsodChem Nyrt. (fka
> BorsodChem Rt) -- http://www.borsodchem.hu/-- produces
> chlorine, chloric alkali, hydrochloric acid, caustic lye and PVC
> resins, and additives for the plastic and rubber industries.
> The Company exports its products mainly to Western Europe.
>
> At Dec. 31, 2006, the Company's balance sheet showed HUF288.7
> billion in total assets and HUF139.8 billion in total
> liabilities, resulting in GBP148.9 billion in shareholders'
> equity.
>
>                         *     *     *
>
> As of Feb. 5, BorsodChem's long-term foreign and local issuer
> credit carry Standard and Poor's B+ rating with stable outlook.
>
>
> BORSODCHEM NYRT: Returned Shares Hikes Treasury to 1,193,218
> ------------------------------------------------------------
> BorsodChem Nyrt. reveals that the treasury shares of the company
> increased by 54 pieces to 1,193,218 due to developments
> concerning its Registered Employee Share Ownership Program
> (Ministry of Finance registration number: 65982EP2005).
>
> Out of the 203,062 shares transferred to the employees'
> securities accounts in HVB Bank Hungary Zrt.'s custody on
> Nov. 9, 2005, the company received back 54 pieces with a value
> date of Feb. 9, 2007, from employees terminating their
> employment relations.
>
>                        About BorsodChem
>
> Headquartered in Kazincbarcika, Hungary, BorsodChem Nyrt. (fka
> BorsodChem Rt) -- http://www.borsodchem.hu/-- produces
> chlorine, chloric alkali, hydrochloric acid, caustic lye and PVC
> resins, and additives for the plastic and rubber industries.
> The Company exports its products mainly to Western Europe.
>
> At Dec. 31, 2006, the Company's balance sheet showed HUF288.7
> billion in total assets and HUF139.8 billion in total
> liabilities, resulting in GBP148.9 billion in shareholders'
> equity.
>
>                         *     *     *
>
> As of Feb. 5, BorsodChem's long-term foreign and local issuer
> credit carry Standard and Poor's B+ rating with stable outlook.
>
>
> =============
> I R E L A N D
> =============
>
>
> SMURFIT KAPPA: S&P Keeps B+ Ratings on CreditWatch
> --------------------------------------------------
> Standard & Poor's Ratings Services is maintaining its credit
> ratings, including its 'B+' long-term corporate credit rating,
> on Ireland-based paper and packaging company Smurfit Kappa Group
> Ltd. and related entities on CreditWatch with positive
> implications.
>
> Subject to a successful completion of the group's announced
> EUR1.3 billion IPO to be used for repayments of part of its high
> cost debt, the corporate credit rating on Smurfit Kappa will be
> raised by one notch to 'BB-' with subsequent one notch uplifts
> for the secured and unsecured debt ratings.  The recovery rating
> is expected to remain unchanged.
>
> "A successful IPO and subsequent debt repayments, including
> repayment of the group's about EUR500 million PIK notes, will
> materially improve Smurfit Kappa's financial profile, although
> it should be noted that the current credit measures are very
> weak for the existing ratings," said Standard & Poor's
> credit analyst Alf Stenqvist.
>
> At the end of December 2006, Smurfit Kappa had adjusted debt of
> about EUR5.8 billion.
>
> At the new rating level, the ratings on Smurfit Kappa and its
> related entities will reflect the group's improved financial
> position, despite a still aggressive financial profile, as well
> as cyclical industry conditions.  These risk factors are
> balanced by the group's satisfactory business risk profile,
> which is supported by its leading position in the European
> containerboard and corrugated board markets, good geographical
> diversification, and high level of forward integrated
> operations.
>
>
> =========
> I T A L Y
> =========
>
>
> ALITALIA SPA: Picks Five Bidders to Proceed with Bidding Process
> ----------------------------------------------------------------
> The Italian government has chosen five interested parties to
> participate in the second round of bidding process for its 30.1%
> stake in Alitalia S.p.A., BBC News reports.
>
> The Economy Ministry, advised by Merrill Lynch and Chiomenti
> Studio Legale, short-listed these interested parties for the
> next phase of the tender:
>
>    -- UBM, a unit of Unicredito Italiano S.p.A.,
>
>    -- Texas Pacific Group Europe LLP,
>
>    -- AP Holding S.p.A., owned by AirOne chief Carlo Toto,
>
>    -- a consortium of Management & Capitali S.p.A., Cerberus
>       European Investments LLC, ELQ Investors Ltd. and
>       Lefinalc S.p.A., and
>
>    -- MatlinPatterson Global Advisers LLC,
>
> They have until mid-April to submit non-binding offers.
>
> Failing to make the list are:
>
>    -- Benstar-Saturn Enterprises Ltd.
>
>    -- Fabio Scaccia, a professor
>
>    -- Net Present Value S.p.A., backed by Unione Piloti
>
>    -- a consortium of Porcellana Castello S.p.A. and Capper-NO
>       S.p.A.,
>
>    -- Terra Firma Investments (GP) 3 Ltd., and
>
>    -- Wonders & Dreams U.K. Ltd. a consortium headed by
>       Paolo Alazraki.
>
> They can still join the bidding process by taking part in a
> consortium set up by any of the five bidders.
>
> Italy's Ministry of Economy and Finance invited interested
> parties to submit a non-binding offer for around 30.1% to 49.9%
> of Alitalia's capital and 1,207,147,404 convertible bonds of the
> carrier's 7.5% 2002-2010 debenture loan.  The sale will take
> place through a competitive procedure involving direct
> negotiations with potential buyers.
>
> According to the Ministry, potential buyers will be selected
> based on the economic terms of the offers received and an
> analysis of the business plans.  The Ministry will also examine
> the compatibility of the offers and business plans with
> Alitalia's restructuring, development and relaunch objectives.
>
> The Ministry also outlined mandatory commitments for the buyer
> to:
>
>    -- keep at least a 30.1% stake in Alitalia until the business
>       plan is successfully carried out:
>
>    -- safeguard Alitalia's national identity; and
>
>    -- guarantee the quality and quantity of services offered and
>       coverage of the territory.
>
> Tommaso Padoa-Schioppa, Italy's Finance Minister, said the buyer
> for the government's stake would be selected based on its
> proposed industrial plan for the troubled carrier, Agenzia
> Giornalistica Italia reports.
>
> "Alitalia is not a commodity whose value is exclusively
> determined by its price, it is not only about putting it out on
> the market, but trying to find an entrepreneur with an
> industrial plan which is able to develop the agency," Mr. Padoa-
> Schioppa said.
>
> "Price is only one of the conditions we will evaluate and it's
> not the most important," Mr. Padoa-Schioppa was quoted by
> Bloomberg News as saying.  "We will examine the more qualitative
> aspects of the offers even before looking at the price."
>
> Mr. Padoa-Schioppia noted that Alitalia's privatization "does
> not mean giving up a national airliner," adding that the process
> was aimed at "pursuing national interest."
>
> "This is explained by the decision made by government and agreed
> upon by the market, the company and the trade unions, that it is
> now time that Alitalia be managed by entrepreneurial criteria
> and decisions," Mr. Padoa-Schioppia said.
>
>                          About Alitalia
>
> Headquartered in Rome, Italy, Alitalia S.p.A. --
> http://www.alitalia.it/-- provides air travel services for
> passengers and air transport of cargo on national, international
> and inter-continental routes.  In Europe, the company reaches 45
> airports, with 1,238 flights per week.  In the rest of the
> world, the Alitalia Group's aircrafts operate out of 32 airports
> with 255 flights per week.  The Alitalia Group network is
> centered on two main airports, Rome Fiumicino and Milan
> Malpensa, and includes, as of Sept. 30, 2006, an operating fleet
> of 182 aircrafts.  The Italian government owns 49.9% of
> Alitalia.
>
> Despite a EUR1.4 billion state-backed restructuring in 1997,
> Alitalia posted net losses of EUR256 million and EUR907 million
> in 2000 and 2001 respectively.  Alitalia registered
> EUR93 million in net profits in 2002 after a EUR1.4 billion
> capital injection.  The carrier booked consecutive annual net
> losses of EUR520 million in 2003, EUR813 million in 2004, and
> EUR168 million in 2005.
>
>
> ALITALIA SPA: Italy Excludes CEO Giancarlo Cimoli from New Board
> ----------------------------------------------------------------
> The Italian government has decided to replace Giancarlo Cimoli
> as chairman and chief executive of Alitalia S.p.A., Gabriel Kahn
> writes for the Wall Street Journal.
>
> The government, represented by the Treasury Ministry,
> effectively removed Alitalia current head by proposing a new
> board that does not include Mr. Cimoli.  The ministry nominated
> Berardino Libonati, Aristide Police, Giovanni Sabatini and
> Luciano Vannozzi and Carlo Santini to Alitalia's new board,
> Reuters says.  The government also nominated Mr. Libonati as
> chairman.  Shareholders would meet on Feb. 22 to confirm the
> nominations.
>
> In a TCR-Europe report on Jan. 19, Alitalia currently has only
> two board members -- Mr. Cimoli and Mr. Sabatini -- following
> the resignation of Jean-Cyril Spinetta, Air-France's president
> and chief executive.
>
> Alitalia's by-laws require that the board comprise three to five
> directors.  Four of Alitalia's board members resigned in the
> past six months, with one being replaced by Mr. Saba, AFX News
> reports.  With just two members, the carrier's board was
> effectively dissolved.
>
> The carrier's unions have been calling for Mr. Cimoli's exit
> from Alitalia, mainly due to his restructuring for the carrier,
> which included 3,700 jobs and a split of its flight and ground
> operations.  The unions have blamed Mr. Cimoli for Alitalia's
> demise, staging series of strikes in retaliation, Reuters says.
>
> Mr. Cimoli exclusion from Alitalia's new board, WSJ suggests,
> could help persuade investors that the government is ready to
> clean the carrier's slate.  Italy has been struggling to
> persuade investors that it would grant a free hand to any
> potential buyer to undertake massive restructuring at the
> company, WSJ adds.
>
> Mr. Cimoli's departure does carry some risks because it is
> unclear how effective any incoming management can be while the
> government tries to close a sale of the airline. The new team
> will have only a few months to put together a turnaround
> strategy before the sale is scheduled to be completed. The new
> owner is then likely to install a whole new management.
>
>                          About Alitalia
>
> Headquartered in Rome, Italy, Alitalia S.p.A. --
> http://www.alitalia.it/-- provides air travel services for
> passengers and air transport of cargo on national, international
> and inter-continental routes.  In Europe, the company reaches 45
> airports, with 1,238 flights per week.  In the rest of the
> world, the Alitalia Group's aircrafts operate out of 32 airports
> with 255 flights per week.  The Alitalia Group network is
> centered on two main airports, Rome Fiumicino and Milan
> Malpensa, and includes, as of Sept. 30, 2006, an operating fleet
> of 182 aircrafts.  The Italian government owns 49.9% of
> Alitalia.
>
> Despite a EUR1.4 billion state-backed restructuring in 1997,
> Alitalia posted net losses of EUR256 million and EUR907 million
> in 2000 and 2001 respectively.  Alitalia registered EUR93
> million in net profits in 2002 after a EUR1.4 billion capital
> injection.  The carrier booked consecutive annual net losses of
> EUR520 million in 2003, EUR813 million in 2004, and EUR168
> million in 2005.
>
>
> FIAT GROUP: Inks Argentine Production Deal with Tata Motors
> -----------------------------------------------------------
> Fiat Group Automobiles S.p.A. and Tata Motors are expanding
> their strategic co-operation with the start of an industrial
> project outside India.
>
> This is a further significant step towards an integrated
> strategy of targeting specific markets and segments.
>
> The agreement, which calls for a Tata license to build a pick-up
> vehicle bearing the Fiat nameplate at Fiat Group Automobiles'
> plant in Cordoba, Argentina, follows a feasibility study started
> in July 2006.  The first vehicles will roll off the Cordoba
> assembly lines during 2008.  Annual production is slated at
> around 20,000 units.  Total planned investment in the project is
> around US$80million.
>
> With the production of the pick-up model, the Fiat complex in
> Cordoba will retake the integral activity of all its productive
> units, to a great extent reinitiated with the manufacture of
> Fiat engines and gearboxes and the recent agreement to produce
> gearboxes for PSA Peugeot-Citroen.
>
> The pick-up, based on the new generation Tata pick-up truck,
> will be sold in South and Central America and select European
> markets through Fiat Automobiles' distribution and importer
> network.  This will permit the Fiat brand to aggressively enter
> the medium pick-up sector, thanks to Tata Motors' specific know-
> how.
>
> The Fiat pick-up, powered by an FPT engine, will be styled and
> positioned differently from the Tata pick-up. It will be
> available in these versions: 4x4, 4x2, double and single cab and
> powered by a JTD diesel 2.3 litres, 134 PS Euro IV engine,
> manufactured in Fiat Powertrain Technology's facility in Sete
> Lagoas, Brazil.
>
> Tata Motors considers Latin America as an important market and
> is examining options for offering its products in this region,
> including through cooperation with Fiat and Iveco for
> manufacturing and distribution.
>
> "This agreement is a further step in the building of a large,
> focalized partnership with Tata," Sergio Marchionne, CEO of Fiat
> Group and of Fiat Group Automobiles said.  "[This agreement]
> will allow Fiat to enter a specific car segment with a very
> competitive product.  We believe in a win-win know-how exchange
> with our Indian partner."
>
> "I am very pleased at this first step in expanding the Fiat
> Group and Tata relationship beyond the shores of India, and
> would hope this would augur well for a truly global partnership
> across markets and business segments," Ratan N. Tata, Chairman
> of the Tata Group and Tata Motors said.
>
> "This is a positive development and will help Tata Motors to get
> engine technology from Iveco," said Rohan Korde, analyst at
> Motilal Oswal Securities Ltd.  "Iveco will be able to buy
> engines and other auto parts from Tata at lower costs."
>
>                         About Tata Motors
>
> Tata Motors is India's largest automobile company, with revenues
> of US$ 5.5 billion in 2005-06. With over four million Tata
> vehicles plying in India, it is the leader in commercial
> vehicles and the second largest in passenger vehicles.  It is
> also the world's fifth largest medium and heavy truck
> manufacturer and the second largest heavy bus manufacturer.
> Tata Motors already distributes Fiat-branded cars in India.
>
>                         About Fiat S.p.A.
>
> Headquartered in Turin, Italy, Fiat Group Automobiles S.p.A.
> (fka Fiat S.p.A.) -- http://www.fiatgroup.com/-- manufactures
> and sells automobiles, commercial vehicles, and agricultural and
> construction equipment.  It also manufactures, for use by the
> company's automotive sectors and for sale to third parties,
> other automotive-related products and systems, principally power
> trains (engines and transmissions), components, metallurgical
> products and production systems.  Fiat's creditors include Banca
> Intesa, Banca Monte dei Paschi di Siena, Banca Nazionale del
> Lavoro, Capitalia, Sanpaolo IMI, and UniCredito Italiano.
>
>                           *     *     *
>
> In a TCR-Europe report on Feb. 14, Moody's Investors Service
> upgraded to Ba2 from Ba3 Fiat S.p.A.'s Corporate Family Rating,
> and the group's other long-term senior unsecured ratings.
>
> At the same time, the positive outlook on all long-term ratings
> was maintained.  The short-term non-Prime rating remains
> unchanged.
>
> In a TCR-Europe report on Jan. 30, Standard & Poor's Ratings
> Services revised its outlook on Italian industrial group Fiat
> S.p.A. to positive from stable.  At the same time, the 'BB'
> long-term and 'B' short-term corporate credit ratings on Fiat
> were affirmed.
>
> Fitch Ratings upgraded Fiat S.p.A.'s and Fiat Finance and Trade
> Ltd. S.A.'s respective Issuer Default and senior unsecured
> ratings to 'BB' from 'BB-'.  Fiat's Short-term rating is
> affirmed at 'B'.  The Outlook on the Issuer Default rating
> remains Positive.
>
>
> ===================
> K A Z A K H S T A N
> ===================
>
>
> BESARYK-2 LLP: Claims Registration Ends March 23
> ------------------------------------------------
> The Specialized Inter-Regional Economic Court of Kyzylorda has
> declared LLP Besaryk-2 insolvent.
>
> Creditors have until March 23 to submit written proofs of claim
> to:
>
>          The Specialized Inter-Regional Economic Court of
>          Kyzylorda
>          Abai ave. 48
>          Kyzylorda
>          Kazakhstan
>          Ten: 8 (32422) 23-56-11
>
>
> BI-COMPANY LLP: Creditors' Claims Due March 23
> ----------------------------------------------
> The Specialized Inter-Regional Economic Court of Aktube has
> declared LLP Bi-Company insolvent.
>
> Creditors have until March 23 to submit written proofs of claim
> to:
>
>          The Specialized Inter-Regional Economic Court of Aktube
>          Altynsarin Str. 31
>          Aktube
>          Kazakhstan
>
>
> CLEANBERRY LLP: Creditors Must File Claims by March 23
> ------------------------------------------------------
> LLP Cleanberry has declared insolvency. Creditors have until
> March 23 to submit written proofs of claim to:
>
>          LLP Cleanberry
>          Utepov Str. 21a-50
>          Almaty
>          Kazakhstan
>
>
> ELEUTAL LLP: Proof of Claim Deadline Slated for March 23
> --------------------------------------------------------
> The Specialized Inter-Regional Economic Court of Aktube has
> declared LLP Eleutal insolvent.
>
> Creditors have until March 23 to submit written proofs of claim
> to:
>
>          The Specialized Inter-Regional Economic Court of Aktube
>          Altynsarin Str. 31
>          Aktube
>          Kazakhstan
>
>
> GRANT MK: Claims Registration Ends March 30
> -------------------------------------------
> LLP Grant Mk has declared insolvency.  Creditors have until
> March 30 to submit written proofs of claim to:
>
>          LLP Grant Mk
>          Sportivnaya Str. 4-25
>          Makinsk
>          Bulandynsky District
>          Akmola
>          Kazakhstan
>
>
> ILYASOV LLP: Claims Filing Period Ends March 23
> -----------------------------------------------
> The Specialized Inter-Regional Economic Court of Kyzylorda has
> declared LLP Ilyasov insolvent.
>
> Creditors have until March 23 to submit written proofs of claim
> to:
>
>          The Specialized Inter-Regional Economic Court of
>          Kyzylorda
>          Abai Ave. 48
>          Kyzylorda
>          Kazakhstan
>          Tel: 8 (32422) 23-56-11
>
>
> PAVLODARENERGOREMSERVICE: Court Starts Bankruptcy Proceedings
> -------------------------------------------------------------
> The Specialized Inter-Regional Economic Court of Pavlodar has
> begun bankruptcy proceeding against LLP Power Repair Service
> Pavlodarenergoremservice & K on Dec. 25, 2006.
>
>
> RUSSKAYA MERA: Proof of Claim Deadline Slated for March 23
> ----------------------------------------------------------
> LLP Trade House Russkaya Mera (RNN 600900537571) has declared
> insolvency.  Creditors have until March 23 to submit written
> proofs of claim to:
>
>          LLP Trade House Russkaya Mera (RNN 600900537571)
>          Suyunbai ave. 211
>          Turksibsky District
>          Almaty
>          Kazakhstan
>          Tel: 8 (3272) 36-08-87
>
>
> TRANS SIGNAL-2: Claims Filing Period Ends March 30
> --------------------------------------------------
> LLP Auto Trans Signal-2 has declared insolvency.  Creditors have
> until March 30 to submit written proofs of claim to:
>
>          LLP Auto Trans Signal-2
>          Aviatorsky Side Street 62
>          Taraz
>          Jambyl Region
>          Kazakhstan
>
>
> ZERNOCONTRACT LLP: Creditors' Claims Due March 23
> -------------------------------------------------
> LLP Zernocontract has declared insolvency.  Creditors have until
> March 23 to submit written proofs of claim to:
>
>          LLP Zernocontract
>          Jandosov Str. 58
>          Almaty
>          Kazakhstan
>
>
> ===================
> K Y R G Y Z S T A N
> ===================
>
>
> SHUKRY CONSULTING: Claims Filing Period Ends March 30
> -----------------------------------------------------
> LLC Shukry Consulting (INN 00304200310042) has declared
> insolvency.  Creditors have until March 30 to submit written
> proofs of claim to:
>
>          LLC Shukry Consulting
>          Kurmanjan Datka Str. 78/3
>          Osh, Kyrgyzstan
>
>
> SPETSMONTAJNALADKA LLC: Creditors' Claims Due March 30
> ------------------------------------------------------
> LLC Special Mounting Setting Up Spetsmontajnaladka has declared
> insolvency.  Creditors have until March 30 to submit written
> proofs of claim to:
>
>          LLC Spetsmontajnaladka
>          Unusov Str. 19
>          Osh, Kyrgyzstan
>
>
> ===================
> L U X E M B O U R G
> ===================
>
>
> NORTEL NETWORKS: Plans No More Job Cuts as Wireless Growth Seen
> ---------------------------------------------------------------
> Nortel Networks Corp. is not planning further job cuts in 2007,
> after disclosing a plan to reduce its workforce by 8.5%, as it
> projects growth in wireless sales with the influx of modern
> technology, Bloomberg News reports.
>
> TCR-Europe reported on Feb. 12 that during the course of 2007
> and into 2008, Nortel is expected to implement a net reduction
> of its global workforce by around 2,900 positions, with about
> 70% taking place in 2007.
>
> The TCR-Europe report adds that the company plans to shift about
> 1,000 positions from higher-cost to lower-cost locations, with
> about 40% of this activity, taking place in 2007.  These
> reductions will not affect sales positions in targeted growth
> areas.
>
> The job cuts are part of the company's plan to trim down
> expenses by US$1.5 billion in three years, Bloomberg News
> relates.
>
> "We're very bullish about 2007," CEO Mike Zafirovski said.
> "We're driving a very aggressive growth strategy.  Job cuts will
> be a thing of the past."
>
> Nortel is relying on a faster wireless technology called WiMax,
> with the hopes that it will drive up sales in the second half of
> 2007 after a market share drop and accounting irregularities
> resulted in a US$2.58 billion loss in 2005, Bloomberg News
> states.
>
> The company more than doubled its investment in the technology
> in 2006 and even sold a separate mobile unit to Alcatel SA for
> US$320 million, partly to concentrate on WiMax, Bloomberg News
> reveals.
>
> "The fourth generation is here," Mr. Zafirovski said.  "We have
> all our resources really driving toward" faster wireless
> broadband.
>
>                       About Nortel Networks
>
> Headquartered in Ontario, Canada, Nortel Networks Corp. --
> http://www.nortel.com/-- delivers technology solutions
> encompassing end-to-end broadband, Voice over IP, multimedia
> services and applications, and wireless broadband designed to
> help people solve the world's greatest challenges.  Nortel does
> business in more than 150 countries.
>
>                            *     *     *
>
> As reported in the Troubled Company Reporter on Oct. 5, 2006,
> Moody's Investors Service upgraded its B3 Corporate Family
> Rating for Nortel Networks Corp. to B2.
>
>
> =====================
> N E T H E R L A N D S
> =====================
>
>
> PANGAEA ABS: Fitch Assigns BB- Rating to EUR5-Mln Class F Notes
> ----------------------------------------------------------------
> Fitch assigned Pangaea ABS 2007-1 B.V's upcoming issue of
> EUR309.2 million floating-rate notes expected ratings.  The
> transaction is a securitization of structured finance assets
> including primarily mortgage-backed securities and
> collateralized debt obligations.
>
>    -- EUR220-million Class A floating-rate notes due 2096: 'AAA'
>
>    -- EUR16-million Class B floating-rate notes due 2096: 'AAA'
>
>    -- EUR18-million Class C floating-rate notes due 2096: 'AA'
>
>    -- EUR22-million Class D deferrable floating-rate notes due
>       2096: 'A'
>
>    -- EUR16-million Class E deferrable floating-rate notes due
>       2096: 'BBB-'
>
>    -- EUR5-million Class F deferrable floating-rate notes due
>       2096: 'BB-'
>
>    -- EUR12.2-million subordinated notes due 2096: not rated
>
> The expected ratings of the Class A, B and C notes address the
> ultimate repayment of principal at maturity and the timely
> payment of interest when due, according to the terms of the
> notes.  For the Class D, E and F notes, which can defer
> interest, the expected ratings address the ultimate payment of
> principal and interest, including deferred interest, at
> maturity.  The final ratings are contingent upon the receipt of
> final documents conforming to information already received.
>
> The expected ratings are based on the quality and diversity of
> the portfolio of assets, which are selected by the collateral
> manager, Investec Principal Finance, subject to the guidelines
> outlined in the collateral management agreement.  The guidelines
> limit the collateral manager's portfolio allocations with
> respect to obligor, industry and asset type.  Investec will
> actively manage the collateral over a six-year reinvestment
> period.
>
> The ratings are also based on the credit enhancement provided to
> the various Classes of notes in the form of subordination,
> structural protection and excess spread.  Credit enhancement, in
> the form of subordination, for the A notes will total 26.7% and
> will be provided by the B notes, the C notes, the D notes, the E
> notes, the F notes and the unrated subordinated notes.  Some of
> the EUR12.2 million proceeds from the subordinated notes will be
> used to pay certain initial expenses of the issuer rather than
> to purchase collateral and therefore will not be available for
> subordination.
>
> Pangaea ABS 2007-1 B.V. is a limited liability company
> incorporated under the laws of the Netherlands.  At the closing
> date, the issuer is expected to have purchased at least 70% of
> the target portfolio; the remainder will be purchased over a
> six-month ramp-up period.  Pangaea ABS 2007-1 B.V may also issue
> combination notes that will comprise components of the rated
> notes as well as the subordinated notes.  The interest and
> principal cash flows on the combo notes will be derived from the
> interest and principal cash flows on their respective
> components.  At the time of writing, the detailed composition of
> the combo note issuance had not been finalized.
>
>
> ===========
> R U S S I A
> ===========
>
>
> AGRO-SEVER OJSC: Creditors Must File Claims by February 27
> ----------------------------------------------------------
> Creditors of OJSC Agro-Sever have until Feb. 27 to submit
> written proofs of claim to:
>
>          L. Pylaeva, Insolvency Manager
>          Post User Box 40
>          620048 Ekaterinburg
>          Russia
>
> The Arbitration Court of Sverdlovsk commenced bankruptcy
> proceedings against the company after finding it insolvent.  The
> case is docketed under Case No.  A60-18202/06-S11.
>
> The Court is located at:
>
>          The Arbitration Court of Sverdlovsk
>          Lenina Pr. 34
>          620151 Ekaterinburg
>          Russia
>
> The Debtor can be reached at:
>
>          OJSC Agro-Sever
>          Vtoroy Severnyj
>          Severouralsk
>          624480 Russia
>
>
> AMBER LLC: Creditors Must File Claims by March 27
> -------------------------------------------------
> Creditors of LLC Amber (TIN 6102017131) have until March 27 to
> submit written proofs of claim to:
>
>          N. Lemaev, Insolvency Manager
>          Office 504
>          Oborony Str. 24
>          344082 Rostov-na-Donu
>          Russia
>
> The Arbitration Court of Rostov commenced bankruptcy proceedings
> against the company after finding it insolvent.  The case is
> docketed under Case No. A53-18938/06-S1-36.
>
> The Court is located at:
>
>          The Arbitration Court of Rostov
>          Stanislavskogo Str. 8a
>          344008 Rostov-na-Donu
>          Russia
>
> The Debtor can be reached at:
>
>          LLC Amber
>          Sholokhova Str. 1
>          Aksay
>          346720 Rostov
>          Russia
>
>
> ASTRA OJSC: Creditors Must File Claims by March 27
> --------------------------------------------------
> Creditors of OJSC Udmurtskaya Insurance Medical Company Astra
> (TIN 1835016926) have until March 27 to submit written proofs of
> claim to:
>
>          I. Shipitsyn, Insolvency Manager
>          Post User Box 224
>          Izhevsk
>          426001 Udmurtiya
>          Russia
>
> The Arbitration Court of Udmurtiya commenced bankruptcy
> proceedings against the company after finding it insolvent.
> The case is docketed under Case No. A71-004524/2006-G2.
>
> The Court is located at:
>
>          The Arbitration Court of Udmurtiya
>          Lomonosova Str. 5
>          Izhevsk
>          426004 Udmurtiya Republic
>          Russia
>
> The Debtor can be reached at:
>
>          OJSC Udmurtskaya Insurance Medical Company Astra
>          Kholmogorova Str. 17
>          Izhevsk
>          Udmurtiya
>          Russia
>
>
> BEL-MOR-WOOD-PROM: Murmansk Bankruptcy Hearing Slated for May 15
> ----------------------------------------------------------------
> The Arbitration Court of Murmansk will convene on May 15 to hear
> the bankruptcy supervision procedure on CJSC Bel-Mor-Wood-Prom.
> The case is docketed under Case No. A42-7905/2006.
>
> The Temporary Insolvency Manager is:
>
>          V. Tarasov
>          Z. Kosmodemyanskoy Str. 29
>          183008 Murmansk
>          Russia
>
> The Court is located at:
>
>          The Arbitration Court of Murmansk
>          Knipovicha Str. 20
>          Murmansk
>          Russia
>
> The Debtor can be reached at:
>
>          CJSC Bel-Mor-Wood-Prom
>          Naberezhnaya Str. 21
>          Umba
>          Murmansk
>          Russia
>
>
> CHEPETSKAYA FURNITURE: Court Starts External Bankruptcy Process
> ---------------------------------------------------------------
> The Arbitration Court of Udmutriya commenced external management
> bankruptcy procedure on CJSC Chepetskaya Furniture Factory (TIN
> 1812004191).  The case is docketed under Case No. A71-
> 002190/2006 G21.
>
> The External Insolvency Manager is:
>
>          L. Bodanov
>          425, 8th Post Office
>          Glazov
>          427628 Udmutriya
>          Russia
>
> The Court is located at:
>
>          The Arbitration Court of Udmurtiya
>          Lomonosova Str. 5
>          Izhevsk
>          426004 Udmurtiya Republic
>          Russia
>
> The Debtor can be reached at:
>
>          CJSC Chepetskaya Furniture Factory
>          Cheptsa, 35
>          Kezskiy
>          427628 Udmutriya
>          Russia
>
>
> CHERNOYARSKIY BRICKWORKS: Creditors Must File Claims by Feb. 27
> ---------------------------------------------------------------
> Creditors on Municipal Unitary Enterprise Chernoyarskiy
> Brickworks have until Feb. 27 to submit written proofs of claim
> to:
>
>          Y. Panfilov, Insolvency Manager
>          Post User Box 370
>          Central Post Office
>          414000 Astrakhan
>          Russia
>
> The Arbitration Court of Astrakhan commenced bankruptcy
> proceedings against the company after finding it insolvent.  The
> case is docketed under Case No. A06-5928/200641.
>
> The Court is located at:
>
>          The Arbitration Court of Astrakhan
>          Gubernatora A. Guzhvina Str. 6.
>          Astrakhan
>          Russia
>
> The Debtor can be reached at:
>
>          Y. Panfilov, Insolvency Manager
>          Post User Box 370
>          Central Post Office
>          414000 Astrakhan
>          Russia
>
>
> ELEKTROWNIA TUROW: Fitch Lifts Ratings to B on Government's Plan
> ----------------------------------------------------------------
> Fitch Ratings upgraded Poland-based BOT Elektrownia Turow S.A.'s
> senior secured debt rating to 'B' from 'B-'.  The Outlook has
> been changed to Positive from Evolving.  At the same time,
> Elektrownia Turow B.V.'s EUR270 million guaranteed secured bond
> maturing in 2011 has also been upgraded to 'B' from 'B-'.
>
> The upgrade reflects the increasing probability of a positive
> outcome for ET's creditors relating to the Polish government's
> plan for early termination of PPAs.  ET's PPA with the state-
> owned transmission grid company Polskie Sieci
> Elektroenergetyczne S.A. constitutes a security for most of ET's
> debt.
>
> Fitch notes the Polish government's plan to link voluntary early
> termination of PPAs with the domestic power sector
> consolidation, so that financially stronger entities within the
> power companies may support highly leveraged generators such as
> ET.  The latter, which is now part of the BOT Gornictwo i
> Energetyka S.A. group, may be consolidated into the larger
> vertically integrated Polska Grupa Energetyczna.  Fitch expects
> that either BOT or PGE are likely to support ET in its debt
> repayment in a scenario that calls for early PPA termination.
> The agency notes the improved position of Polish power plants'
> creditors in relation to the PPA termination plans, after the
> draft act on compensation rules for generators calls for
> creditors' consent to any PPA cancellation.
>
> The upgrade additionally reflects ET's improving credit metrics
> given its steady de-leveraging since its debt-financed
> modernization program was completed in early 2005.  The 2.1-GW
> ET power plant is currently the most modern lignite-fired plant
> in the country.  The upgrade also reflects the strategic
> importance of ET's assets in view of expected tight supply of
> power generation assets in the next 10 years in Poland amid
> growing demand for electricity and aging generation assets.
>
> The Positive Outlook reflects the fact that according to Fitch's
> analysis, most likely scenarios for ET are expected to lead to a
> rating upgrade.  Under the draft act, if ET terminates its PPA
> early, it will receive a total compensation for stranded costs
> of PLN2.57bn in quarterly payments until 2016.  If ET becomes
> part of the vertically integrated PGE group, it will not receive
> any compensation since the government and European Commission
> assume that stronger entities in the group should support ET.
>
> The 'B' rating reflects ET's high leverage, tight debt service
> coverage ratio and need for support in case its PPA is
> terminated.  It should be noted that the government's plan may
> be subject to delays or changes given the number of failed
> attempts to cancel PPAs since 1998.
>
> Fitch also notes that the PPA of ET is not part of the EC
> investigation on prohibited state aid, because it was signed in
> August 1994, i.e. before the EU Treaty became effective in
> Poland in December 1994.  Therefore, ET's PPA may not
> necessarily be challenged by the EC even if the latter concludes
> that other PPAs in Poland are regarded as prohibited state aid.
>
>
> GORODETSKIY SHIP: Creditors Must File Claims by March 27
> --------------------------------------------------------
> Creditors of OJSC Gorodetskiy Ship Repair-Mechanical Factory
> have until March 27 to submit written proofs of claim to:
>
>          O. Vdovin, Insolvency Manager
>          Minina Str. 3a-1
>          603005 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. A43-14611/2006, 24-174.
>
> The Court is located at:
>
>          The Arbitration Court of Nizhniy Novgorod
>          Kremlin 9
>          603082 Nizhniy Novgorod
>          Russia
>
> The Debtor can be reached at:
>
>          OJSC Gorodetskiy Ship Repair-Mechanical Factory
>          Novaya Str. 31
>          Gorodets
>          606508 Nizhniy Novgorod
>          Russia
>
>
> IPOC INT'L: Finance Minister Paula Cox Seeks Firm's Liquidation
> ---------------------------------------------------------------
> Bermuda's Finance Minister Paula Cox is calling on the country's
> Supreme Court to liquidate IPOC International Growth Fund Ltd.
> and eight affiliated companies in a move to protect the
> reputation of the island as a leading financial center, Jonathan
> Kent writes for The Royal Gazette.
>
> "Bermuda is a premier jurisdiction of choice with a highly
> sophisticated financial infrastructure.  However notwithstanding
> this, on occasion there are issues that result in legal action
> having to be taken to address seeming breaches of our laws and
> apparent regulatory infractions," Ms. Cox said.
>
> The Registrar of Companies at the direction of Ms. Cox filed a
> winding-up petition for IPOC and related entities on Jan. 12
> following an examination of a report from KPMG Advisory
> Services, which was commissioned by the Ministry of Finance in
> 2004 to probe into the fund's affairs, The Royal Gazette
> relates.
>
> IPOC's affiliates include: IPOC Capital Partners Ltd., Gamma
> Capital Fund Ltd., Convergence Capital Ltd., Com Tel Eastern
> Ltd., First National Telecommunication Fund Ltd., Convergence
> Capital Management Ltd., Augmentation Investments Ltd. and Telco
> Overseas Ltd.
>
> The petition will be heard by the court on April 27.
>
> The Finance Ministry revealed the government is liaising on a
> number of cross-border cooperation issues and that some matters
> relating to the case had been referred to the Bermuda Police
> Service for investigation.
>
> According to the Royal Gazette, IPOC is involved in a three-year
> dispute with the Alfa Group over a 25% stake in Megafon,
> Russia's third largest mobile operator.
>
> In May 2006, a Swiss tribunal has identified Russian IT and
> Communications Minister Leonid Reiman, a close ally of Russian
> President Vladimir Putin, as the sole beneficial owner of IPOC.
>
> It was alleged that the fund was used as a money-laundering
> vehicle during the privatization of the Russian
> telecommunications industry in the 1990's.
>
> Headquartered in Bermuda, IPOC International Growth Fund Ltd.
> was founded in 2000.  Its primary objective is to identify
> emerging business trends and capitalize on international growth
> opportunities.
>
>
> MOBILE TELESYSTEMS: Reveals Subscriber Growth for January 2007
> --------------------------------------------------------------
> Mobile TeleSystems OJSC, a mobile phone operator in Russia and
> the CIS, disclosed that its consolidated subscriber base reached
> 73.41 million users on Jan. 31, 2007.
>
> During January 2007, MTS' consolidated subscriber base increased
> by 0.55 million subscribers.
>
>       Subscribers (mln)   Jan. 31  Dec. 31  Growth  Growth
>                           2007     2006     Subs    %
>       ----------------    -------  -------  ------  ------
>       Total consolidated
>       subscribers, end
>       of period           73.41    72.86    0.55    0.8%
>
>       Russia              51.20    51.22   -0.02   -0.04%
>
>       Moscow and the
>       Moscow region       11.27    11.21    0.06    0.5%
>
>       St. Petersburg and
>       the Leningrad
>       region               2.68     2.69   -0.01   -0.5%
>
>       Rest of Russia      37.26    37.32   -0.06   -0.2%
>
>       Ukraine             20.50    20       0.50    2.5%
>
>       Uzbekistan           1.52     1.45    0.07    4.9%
>
>       Turkmenistan         0.19     0.18    0.01    1.9%
>
>       MTS Belarus[1]       3.34     3.21    0.13    4.1%
>
>
>       Subscribers (mln)   Jan. 31,   Growth   Growth
>                           2006       Subs     %
>       ----------------    -------    ------   ------
>       Total consolidated
>       subscribers, end
>       of period           59.50      13.91    23.4%
>
>       Russia              44.88       6.32    14.1%
>
>       Moscow and the
>       Moscow region       10.17       1.10    10.8%
>
>       St. Petersburg and
>       the Leningrad
>       region               2.51       0.17     6.7%
>
>       Rest of Russia      32.21       5.05    15.7%
>
>       Ukraine             13.95       6.55    47.0%
>
>       Uzbekistan           0.60       0.92   153.4%
>
>       Turkmenistan         0.07       0.12   167.5%
>
>       MTS Belarus[1]       2.18       1.16    53.2%
>
> [1] MTS owns a 49% stake in Mobile TeleSystems LLC, a mobile
> operator in Belarus, which is not consolidated.
>
>             About MTS (Mobile TeleSystems)
>
> Headquartered in Moscow, Russia, Mobile TeleSystems OJSC --
> http://www.mtsgsm.com/-- is the largest mobile phone operator
> in Russia and the CIS.  Together with its subsidiaries, the
> Company services over 61.77 million subscribers.  The regions of
> Russia, as well as Belarus, Turkmenistan, Ukraine, and
> Uzbekistan, in which MTS and its associates and subsidiaries are
> licensed to provide GSM services, have a total population of
> around 233.1 million.  Since June 2000, MTS' Level 3 ADRs have
> been listed on the New York Stock Exchange.
>
>                   *     *     *
>
> As of Dec. 31, 2005, MTS had a working capital deficit of
> US$631.6 million, compared with a US$189 million working capital
> deficit at Dec. 31, 2004.
>
> MTS is rated to BB-/outlook stable by S&P in and Ba3/outlook
> stable by Moody's.
>
>
> PAVLOVSKIY BAKERY: Creditors Must File Claims by April 27
> ---------------------------------------------------------
> Creditors State Unitary Enterprise Pavlovskiy Bakery have until
> April 27 to submit written proofs of claim to:
>
>          L. Kireeva, Insolvency Manager
>          Apartment 43
>          Mendeleeva Str. 207/1
>          Ufa
>          Bashkortostan
>          Russia
>
> The Arbitration Court of Bashkortostan commenced bankruptcy
> proceedings against the company after finding it insolvent.
> The case is docketed under Case No. A07-23804/06-G-KhRM.
>
> The Court is located at:
>
>          The Arbitration Court of Bashkortostan
>          Oktyabrskoy Revolyutsii Str. 63a
>          Ufa
>          Bashkortostan
>          Russia
>
> The Debtor can be reached at:
>
>          State Unitary Enterprise Pavlovskiy Bakery
>          Vedeneeva Str. 47
>          Pavlovka
>          Nurimanovskiy, Bashkortostan
>          Russia
>
>
> PROGRESS OJSC: Asset Sale Slated for February 28
> ------------------------------------------------
> The insolvency manager and bidding organizer for OJSC Birskiy
> Electro-Mechanical Factory Progress, will open a public auction
> for the company's properties at 2:00 p.m. on Feb. 28 at:
>
>          OJSC Birskiy Electro-Mechanical Factory Progress
>          Internationalnaya Str. 124
>          Birsk, Bashkortostan
>          Russia
>
> The case is docketed under Case No. A-07-36576/04-G-FLE.
>
> Interested participants have until Feb. 22 to deposit an amount
> equivalent to 10% of the starting price to:
>
>          OJSC Birskiy Electro-Mechanical Factory Progress
>          Settlement Account 40702810501030000154
>          Correspondent Account 3010181090000000739
>          BIK 048073739
>          OGRN 1030201246910
>          TIN/KPP 0257006090/025701001
>          OJSC Sotsinvestbank
>          Birskiy Branch
>
> Bidding Documents must be submitted to:
>
>          The insolvency manager and bidding organizer
>          Internationalnaya Str. 124
>          Birsk, Bashkortostan
>          Russia
>
> If the auction doesn't take place the company will proceed with
> a repeated auction at 2:00 p.m. on April 2 at the same address.
>
> The Debtor can be reached at:
>
>          OJSC Birskiy Electro-Mechanical Factory Progress
>          Internationalnaya Str. 124
>          Birsk, Bashkortostan
>          Russia
>
>
> RONIIS OJSC: Creditors Must File Claims by February 27
> ------------------------------------------------------
> Creditors on OJSC RONIiS have until Feb. 27 to submit written
> proofs of claim to:
>
>          S. Bakhvalov, Temporary Insolvency Manager
>          Temernitskaya Str. 93/33
>          344002 Rostov-na-Donu
>          Russia
>
> The Arbitration Court of Rostov commenced bankruptcy supervision
> procedure on the company.  The case is docketed under Case No.
> A53-11689/2006-S2-8.
>
> The Court is located at:
>
>          The Arbitration Court of Rostov
>          Stanislavskogo Str. 8a
>          344008 Rostov-na-Donu
>          Russia
>
> The Debtor can be reached at:
>
>          OJSC RONIiS
>          Nansena Str. 109
>          344038 Rostov-na-Donu
>          Russia
>
>
> STEPANOVSKIY OJSC: Creditors Must File Claims by March 27
> ---------------------------------------------------------
> Creditors of OJSC Butter-Cheese Factory Stepanovskiy (TIN
> 2620000011) have until March 27 to submit written proofs of
> claim to:
>
>          A. Bibik
>          Office 201
>          Krasnoarmeyskaya Str. 109
>          344010 Rostov-na-Donu
>          Russia
>
> The Arbitration Court of Stavropol commenced bankruptcy
> proceedings against the company after finding it insolvent.
> The case is docketed under Case No. A63-151/05-S5.
>
> The Court is located at:
>
>          The Arbitration Court of Stavropol
>          Mira Str. 458 b
>          Stavropol
>          Russia
>
> The Debtor can be reached at:
>
>          OJSC Butter-Cheese Factory Stepanovskiy
>          Dodonova Str. 20
>          Stepnoe, Stavropol
>          Russia
>
>
> TANTAL-M CJSC: Saratov Bankruptcy Hearing Slated for April 17
> -------------------------------------------------------------
> The Arbitration Court of Saratov will convene at 10:00 a.m. on
> April 17 to hear the bankruptcy supervision procedure on CJSC
> Tantal-M.  The case is docketed under Case No. A-57-15308/06-31.
>
> The Temporary Insolvency Manager is:
>
>          A. Elgaev
>          Office 302
>          Chernyshevskogo Str. 94 B
>          410056 Saratov
>          Russia
>
> The Court is located at:
>
>          The Arbitration Court of Saratov
>          Babushkin Vvoz 1
>          Saratov
>          Russia
>
> The Debtor can be reached at:
>
>          CJSC Tantal-M
>          50 Let Oktyabrya Str. 110 A
>          410040 Saratov
>          Russia
>
>
> TRANS-STROY ENGINEERING: Creditors Must File Claims by March 27
> ---------------------------------------------------------------
> Creditors of CJSC Trans-Stroy have until March 27 to submit
> written proofs of claim to:
>
>          V. Emelyanov, Insolvency Manager
>          Post User Box 4357
>          660013 Krasnoyarsk
>          Russia
>
> The Arbitration Court of Tomsk commenced bankruptcy proceedings
> against the company after finding it insolvent.  The case is
> docketed under Case No. A67-17537/05.
>
> The Debtor can be reached at:
>
>          CJSC Trans-Stroy Engineering
>          K. Marksa Str. 56
>          Tomsk
>          Russia
>
>
> TRANSNEFT OAO: To Issue Us$500-Mln Eurobonds to Fund Projects
> -------------------------------------------------------------
> OAO Transneft will issue at least US$500 million in Eurobonds to
> finance its pipeline construction projects, RIA Novosti reports
> citing chief executive Semyon Vainshtok.
>
> "We are following the market situation, and if issuing bonds is
> unprofitable for us, we will stop doing it," Mr. Vainshtok said.
>
> Transneft will construct two large-scale pipelines: one linking
> Eastern Siberia to Japan and China; and the extension of its
> Baltic Pipeline System, RIA Novosti relays.
>
> Mr. Vainshtok said cost to complete the Eastern Siberian
> pipeline almost doubled to US$11 billion due to the need to
> build generating capacities and infrastructure.  The pipeline
> would be operational in 2008.
>
> In a TCR-Europe report on Feb. 16, Transneft will construct a
> new oil-export link in Primorsk, Russia, an extension of its
> Baltic Pipeline System.  Mr. Vainshtok Bloomberg News that the
> government would decide on the pipeline construction within a
> month.  The 50-million-ton-a-year capacity pipeline could be
> expanded if necessary to increase exports via the Primorsk port.
>
> The Russian government conceived the Primorsk link following a
> snag with Belarus, which demanded that Russia pay transit fee.
> The conflict forced Transneft, a government-owned company, to
> cut oil supplies through the Druzhba pipeline, causing fuel
> interruption to Central Europe.
>
>                      About the Company
>
> Headquartered in Moscow, Russia, OAO Transneft --
> http://www.transneft.ru/-- operates one of the largest networks
> of oil pipelines in the world.  The company moves crude oil
> through more than 30,000 miles of pipeline stretching across
> Eastern Europe and Asia.  Transneft operates a transportation
> network consisting of more than 30,000 miles of pipeline, about
> 330 pump stations, and 934 tankers capable of storing more than
> 13 million cu. meters of petroleum product.  The company
> transports about 93% of the oil produced in Russia.
>
>                         *     *     *
>
> OAO Transneft carries Fitch's 'BB' rating.
>
>
> VOLZHSKIYE TRAVELS: Court Names R. Farrakhov to Manage Assets
> -------------------------------------------------------------
> The Arbitration Court of Tatarstan appointed Mr. R. Farrakhov as
> Insolvency Manager for CJSC Volzhskiye Travels.  He can be
> reached at:
>
>          R. Farrakhov
>          Post User Box 97
>          Kazan
>          420094 Tatarstan
>          Russia
>
> The Court commenced bankruptcy proceedings against the company
> after finding it insolvent.  The case is docketed under Case No.
> A65-19668/2006-SG4-31.
>
> The Court is located at:
>
>          The Arbitration Court of Tatarstan
>          Room 12
>          Floor 2
>          Entrance 2
>          Building 1
>          Kremlin
>          Kazan
>          Tatarstan Republic
>          Russia
>
> The Debtor can be reached at:
>
>          R. Farrakhov
>          Post User Box 97
>          Kazan
>          420094 Tatarstan
>          Russia
>
>
> VOLGA CJSC: Creditors Must File Claims by February 27
> -----------------------------------------------------
> Creditors on CJSC Volga have until Feb. 27 to submit written
> proofs of claim to:
>
>          I. Gorn, Insolvency Manager
>          Post User Box 183
>          127018 Moscow
>          Russia
>
> The Arbitration Court of Moscow commenced bankruptcy proceedings
> against the company after finding it insolvent.  The case is
> docketed under Case No. A40-40039/06-123-780B.
>
> The Court is located at:
>
>          The Arbitration Court of Moscow
>          Novaya Basmannaya Str. 10
>          Moscow
>          Russia
>
> The Debtor can be reached at:
>
>          CJSC Volga
>          Krymskiy Val 8
>          Moscow
>          Russia
>
>
> =====================
> S W I T Z E R L A N D
> =====================
>
>
> ARRO FORESTAL: Creditors' Liquidation Claims Due March 5
> --------------------------------------------------------
> Creditors of JSC Arro Forestal (Schweiz) have until March 5 to
> submit their claims to:
>
>          Altra Treuhand
>          Liquidator
>          Speichergasse 5
>          3001 Bern
>          Switzerland
>
> The Debtor can be reached at:
>
>          JSC Arro Forestal (Schweiz)
>          Bolligen BE
>          Switzerland
>
>
> FINAVEST JSC: Creditors' Liquidation Claims Due March 1
> -------------------------------------------------------
> Creditors of JSC Finavest have until March 1 to submit their
> claims to:
>
>          JSC Servest Treuhand & Verwaltung
>          Liquidator
>          Mainaustrasse 19
>          8034 Zurich
>          Switzerland
>
> The Debtor can be reached at:
>
>          JSC Finavest
>          Zurich
>          Switzerland
>
>
> KUNINFO FINANZDIENSTLEISTUNGEN: Liquidation Claims Due March 5
> --------------------------------------------------------------
> Creditors of LLC Kuninfo Finanzdienstleistungen have until
> March 5 to submit their claims to:
>
>          Achilles & Aurel Schonenberger
>          Liquidators
>          Klosbachstrasse 37
>          8032 Zurich
>          Switzerland
>
> The Debtor can be reached at:
>
>          LLC Kuninfo Finanzdienstleistungen
>          Zurich
>          Switzerland
>
>
> PITA HANDELS: Creditors' Liquidation Claims Due March 13
> --------------------------------------------------------
> Creditors of JSC Pita Handels have until March 13 to submit
> their claims to:
>
>          Alfida Treuhand
>          Liquidator
>          Badenerstrasse 334
>          8004 Zurich
>          Switzerland
>
> The Debtor can be reached at:
>
>          JSC Pita - Handels
>          Zurich
>          Switzerland
>
>
> RHYN JSC: Claims Registration Period Ends March 2
> -------------------------------------------------
> The Bankruptcy Court of Bern commenced bankruptcy proceedings
> against JSC Rhyn on Dec. 1, 2006.
>
> Creditors have until March 2 to file their written proofs of
> claim.
>
> The Debtor can be reached at:
>
>          JSC Rhyn
>          Landshutstrasse 27
>          3427 Utzenstorf
>          Fraubrunnen BE
>          Switzerland
>
> The Bankruptcy Service of Bern can be reached at:
>
>          Bankruptcy Service of Bern
>          Office Burgdorf
>          3401 Burgdorf BE
>          Switzerland
>
>
> ROTH TRANSPORT: Bern Court Closes Bankruptcy Proceedings
> --------------------------------------------------------
> The Bankruptcy Service of Bern entered Jan. 17, an order closing
> the bankruptcy proceedings of JSC Roth Transport.
>
> The Debtor can be reached at:
>
>          JSC Roth Transport
>          Bernstrasse 15
>          3262 Suberg BE
>          Switzerland
>
> The Bankruptcy Service of Bern can be reached at:
>
>          Bankruptcy Service of Bern
>          Office Seeland,
>          2501 Biel/Bienne BE
>          Switzerland
>
>
> TELLENBACH HIFI: Creditors' Liquidation Claims Due March 5
> ----------------------------------------------------------
> Creditors of JSC Tellenbach Hifi TV Video have until March 5 to
> submit their claims to:
>
>          Elisabeth Tellenbach
>          Liquidator
>          Neuhausweg 1
>          8712 Stafa
>          Meilen ZH
>          Switzerland
>
> The Debtor can be reached at:
>
>          JSC Tellenbach Hifi TV Video
>          Zollikon ZH
>          Switzerland
>
>
> TEMPHRM JSC: Creditors' Liquidation Claims Due March 5
> ------------------------------------------------------
> Creditors of JSC tempHRm have until March 5 to submit their
> claims to:
>
>          Treuhand Fassler & Partner Appenzell
>          Liquidator
>          Weissbadstrasse 14
>          9050 Appenzell
>          Switzerland
>
> The Debtor can be reached at:
>
>          JSC tempHRm
>          Appenzell
>          Switzerland
>
>
> TRAVELLER'S PLACE: Aargau Court Starts Bankruptcy Proceedings
> -------------------------------------------------------------
> The Bankruptcy Court of Aargau commenced bankruptcy proceedings
> against LLC Traveller's Place on Jan. 23.
>
> The Debtor can be reached at:
>
>          LLC Traveller's Place
>          Marktgasse 2
>          5436 Wurenlos
>          Baden AG
>          Switzerland
>
> The Bankruptcy Service of Aargau can be reached at:
>
>          Bankruptcy Service Aargau
>          Office Baden
>          5402 Baden AG
>          Switzerland
>
>
> UNIPAT JSC: Creditors' Liquidation Claims Due March 5
> -----------------------------------------------------
> Creditors of JSC Unipat have until March 5 to submit their
> claims to:
>
>          Dr. Suzanne Thoma
>          Liquidator
>          Stallenstrasse 23
>          4104 Oberwil BL
>          Switzerland
>
> The Debtor can be reached at:
>
>          JSC Unipat
>          Oberwil BL
>          Switzerland
>
>
> ===========
> T U R K E Y
> ===========
>
>
> CALIK HOLDING: Fitch Assigns B+ Ratings to US$200-Mln Notes
> -----------------------------------------------------------
> Fitch Ratings assigned Globus Capital Finance S.A.'s prospective
> fixed-rate senior guaranteed notes of up to a maximum of
> US$200 million an expected foreign currency senior unsecured
> rating of 'B+' and an expected Recovery Rating of 'RR4'.
>
> Globus Capital Finance S.A. has the sole purpose of using the
> proceeds of the notes to finance a loan to Turkey-based Calik
> Holding A.S. as set out in a loan agreement, the rights and
> benefits of which are charged to the benefit of note holders.
> In a separate announcement published on Feb. 14, Calik was
> assigned local and foreign currency Issuer Default ratings of
> 'B+' Outlook Stable and its National Long-term rating of 'BBB+'
> Outlook Positive was affirmed.  The expected rating of the notes
> is in line with Calik's foreign currency IDR 'B+'.
>
> The final ratings on the notes are contingent on receipt of
> final documents conforming to information already received and
> receipt of satisfactory legal opinions.
>
> Proceeds of the notes will be used to refinance some of Calik's
> existing debt and fund working capital requirements, and for
> general corporate purposes.  The notes will constitute direct,
> unsecured and unconditional obligations of Calik and will rank
> equally with all other present or future unsecured and
> unsubordinated obligations of the company.  The terms and
> conditions of the loan agreement include a limitation on Calik's
> debt, using a maximum leverage ratio of 4x.
>
> Fitch notes that there are also restrictions on dividend
> payments by Calik.  Furthermore, upon asset sales by Calik above
> a certain amount, noteholders can request that these proceeds be
> used to prepay their notes at par.  In the event of a change of
> control relating to Calik, or a two notch downgrade based on
> asset disposals, the noteholders have the right to require the
> issuer to prepay their notes.  There are also covenants relating
> to transactions with affiliates, mergers and disposals as
> described in the loan agreement.  The governing law of the loan
> agreement, including the guarantees in place and the notes, is
> English law and the jurisdiction is the courts of England.
>
>
> =============
> U K R A I N E
> =============
>
>
> IVANICHIAL AGRICULTURAL: Creditors Must Submit Claims by March 4
> ----------------------------------------------------------------
> Creditors of OJSC Ivanichial Agricultural Delivery (code EDRPOU
> 00902694) have until March 4 to submit written proofs of claim
> to:
>
>          I. Kostiukevich, Temporary Insolvency Manager
>          Grushevsky Str. 30/22
>          43000 Lutsk
>          Volin
>          Ukraine
>
> The Economic Court of Volin commenced bankruptcy supervision
> procedure on the company.  The case is docketed under Case No.
> 1/60-B.
>
> The Court is located at:
>
>          The Economic Court of Volin
>          Volia Avenue 54-a
>          43010 Lutsk
>          Volin
>          Ukraine
>
> The Debtor can be reached at:
>
>          OJSC Ivanichial Agricultural Delivery
>          Mehanizatorov Str. 12a
>          Ivanichi
>          45300 Volin
>          Ukraine
>
>
> KOMPTRANS-CO LLC: Claims Submission Deadline Set March 4
> --------------------------------------------------------
> Creditors of LLC Komptrans-Co (code EDRPOU 34045484) have until
> March 4 to submit written proofs of claim to:
>
>          I. Kapeliushny, Liquidator
>          P.O. Box 53
>          03037 Kiev-37
>          Ukraine
>
> The Economic Court of Kiev commenced bankruptcy proceedings
> against the company on Jan. 23 after finding it insolvent.  The
> case is docketed under Case No. 23/603-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 Komptrans-Co
>          Mechnikov Str. 16
>          01023 Kiev
>          Ukraine
>
>
> MAGNESIUM CJSC: Creditors Must Submit Claims by March 4
> -------------------------------------------------------
> Creditors of CJSC Magnesium (code EDRPOU 31587185) have until
> March 4 to submit written proofs of claim to:
>
>          Elena Goshovskaya, Temporary Insolvency Manager
>          Sechevie Strelcy Str. 10
>          Striy
>          Lvov
>          Ukraine
>
> The Economic Court of Ivano-Frankovsk commenced bankruptcy
> supervision procedure on the company.  The case is docketed
> under Case No. B-7/235.
>
> The Court is located at:
>
>          The Economic Court of Ivano-Frankivsk
>          Shevchenko Str. 16a
>          76000 Ivano-Frankivsk
>          Ukraine
>
> The Debtor can be reached at:
>
>          CJSC Magnesium
>          Kalush
>          77300 Ivano-Frankovsk
>          Ukraine
>
>
> MAHARINCI-SUGAR LLC: Claims Submission Deadline Set March 4
> -----------------------------------------------------------
> Creditors of have until March 4 to submit written proofs of
> claim to:
>
>          Sergey Daniliuk, Liquidator
>          Ruzhyn
>          Zhytomir
>          Ukraine
>
> The Economic Court of Zhytomir commenced bankruptcy proceedings
> against the company after finding it insolvent.  The case is
> docketed under Case No. 3/178.
>
> The Court is located at:
>
>          The Economic Court of Zhytomir
>          Putiatinskiy Square 3/65
>          10014 Zhytomir
>          Ukraine
>
> The Debtor can be reached at:
>
>          LLC Maharinci-Sugar
>          Ruzhyn
>          Zhytomir
>          Ukraine
>
>
> NOHRA LLC: Claims Submission Deadline Set March 4
> -------------------------------------------------
> Creditors of LLC Company Nohra (code EDRPOU 34242326) have until
> March 4 to submit written proofs of claim to:
>
>          I. Kapeliushny, Liquidator
>          P.O. Box 53
>          03037 Kiev-37
>          Ukraine
>
> The Economic Court of Kiev commenced bankruptcy proceedings
> against the company on Jan. 23 after finding it insolvent.  The
> case is docketed under Case No. 23/601-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 Company Nohra
>          Vozduhoflotsky Avenue 54
>          03051 Kiev
>          Ukraine
>
>
> SIVER LLC: Creditors Must Submit Claims by March 4
> --------------------------------------------------
> Creditors of LLC Siver (code EDRPOU 21120814) have until March 4
> to submit written proofs of claim to:
>
>          The Economic Court of Sumy
>          Shevchenko Avenue 18/1
>          40030 Sumy
>          Ukraine
>
> The Economic Court of Sumy commenced bankruptcy supervision
> procedure on the company on Jan. 15.  The case is docketed under
> Case No. 8/593-06.
>
> The Debtor can be reached at:
>
>          LLC Siver
>          M. Lushpa Avenue 28
>          40034 Sumy
>          Ukraine
>
>
> ===========================
> U N I T E D   K I N G D O M
> ===========================
>
>
> ADVANCED MARKETING: Hires Focus Management as Financial Advisor
> ---------------------------------------------------------------
> Advanced Marketing Services Inc. and its debtor-affiliates
> obtained authority from the U.S. Bankruptcy Court for the
> District of Delaware to employ Focus Management Group U.S.A.
> Inc. to provide them with financial reporting, consulting and
> advisory services in their Chapter 11 cases.
>
> As reported in the Troubled Company Reporter on Feb. 8, Mark D.
> Collins, Esq., at Richards, Layton & Finger, PA, at Wilmington,
> Delaware, told the Court that Focus has substantial experience
> in both the financial analysis area and certain insolvency
> services, having served in Chapter 11 cases on behalf of debtors
> and creditors.
>
> Specifically, Focus is expected to:
>
>    (a) prepare and, from time to time, update cash flow
>        forecasts, other projections and other financial data for
>        the Debtors;
>
>    (b) assemble and prepare information for the Debtors' DIP
>        lenders;
>
>    (c) assist the Debtors in monitoring compliance with
>        operating cash flow requirements as per the loan
>        agreement with the Debtors' DIP lenders;
>
>    (d) assist the Debtors in the preparation of reports to the
>        United States Trustee;
>
>    (e) assist the Debtors in complying with guidelines
>        established by the U.S. Trustee;
>
>    (f) assist the Debtors in connection with other financial
>        operations and related tasks;
>
>    (g) periodically communicate with and participate in meetings
>        with the Debtors' management and other parties-in-
>        interest regarding the Debtors' financial condition; and
>
>    (h) perform other functions as requested by the Debtors,
>        their legal counsel, and their financial advisors.
>
> Mr. Collins added that Focus' retention centers around its
> familiarity from prepetition work with certain aspects of the
> Debtors' books, records and financial reporting needs.
>
> Focus will be working on a number of projects either in
> conjunction with the Capstone Advisory Group, LLC, or under the
> supervision of Capstone.
>
>                        Firm's Compensation
>
> Prior to the Dec. 29, 2006, the Debtors paid Focus US$1,044,850
> for fees and expenses for prepetition services rendered by Focus
> to the Debtors, as well as to serve as retainer, of which
> US$775,452 was received during the 90 days prior to the Petition
> Date.
>
> After deducting fees and expenses previously billed -- and paid
> -- and estimated unbilled prepetition amounts for prepetition
> services rendered, US$346,626 remains as a retainer.  The
> balance will be available to be applied to postpetition services
> and any prepetition fees and expenses incurred but unprocessed,
> prior to the Petition Date.
>
> The Debtors will pay Focus its hourly fees and reasonable
> expenses.  Focus' discounted hourly rate schedule for the
> Debtors is:
>
>       Designation                Hourly Rate
>       -----------                -----------
>       Managing Directors            US$375
>       Senior Consultants            US$350
>
> The Debtors and Focus also agreed to certain indemnification
> provisions.
>
> Robert O. Riiska, a managing director at Focus, assured the
> Court that Focus' partners and associates do not have any
> connection with or any interest adverse to the Debtors, their
> creditors, or any other party-in-interest, or their attorneys.
>
>                     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 around 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 US$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)
>
>
> ADVANCED MARKETING: Panel Objects to Capstone as Advisor
> --------------------------------------------------------
> The Official Committee of Unsecured Creditors in Advanced
> Marketing Services Inc. and its debtor-affiliates' Chapter 11
> cases and Kelly Beaudin Stapleton, the U.S. Trustee for Region
> 3, object to the Debtors' request to retain Capstone Advisory
> Group LLC as their financial advisors.
>
> "The Debtors have not demonstrated the need to retain Capstone
> as an investment banker," Thomas F. Driscoll III, Esq., at
> Morris, Nichols, Arsht & Tunnell LLP, in Wilmington, Delaware,
> tells the United States Court for the District of Delaware.
>
> Representing the Committee, Mr. Driscoll contends that
> Capstone's services may be duplicative of those performed by the
> Debtors' other professionals.
>
> Rather than deplete the Debtors' limited resources by engaging
> Capstone to assist Houlihan, Lokey, Howard & Zukin Capital,
> Inc., in its efforts to market and refinance the Debtors, the
> Committee argues that the Debtors, with the help of their other
> professionals, could adequately perform those services.
>
> Also, Capstone is not an investment banker but a financial
> advisor and should not be entitled to any Success Fees, Mr.
> Driscoll tells Judge Christopher S. Sontchi.  The Committee
> believes that Capstone should be compensated for actual work
> done and actual value provided; Capstone should not receive a
> windfall at the expense of the unsecured creditor body.
>
> "The Court must condition Capstone's retention upon a review of
> Capstone's fees and expenses pursuant to Section 330 of the
> Bankruptcy Code so that the Court, the Committee, the Office of
> the United States Trustee and other parties-in-interest may
> submit any appropriate objections to such fees and expenses,"
> Mr. Driscoll explains.
>
> Capstone "should provide hourly rates for its professionals,"
> Ms. Stapleton tells the Court.
>
> Certain terms and provisions of the Indemnification Provisions
> contained in The Capstone Agreements and the Application are
> likewise overly broad and must be revised, Mr. Driscoll points
> out.
>
> As reported in the Troubled Company Reporter on Feb. 7, the
> Debtors sought to employ Capstone to:
>
>    (a) analyze and challenge the Debtors' short-term and long-
>        term cash flow forecasts;
>
>    (b) assist management, as appropriate, in developing
>        corresponding liquidity analysis;
>
>    (c) analyze the Debtors' business plan and any alternative
>        business plans suggested by the Debtors;
>
>    (d) assist the Debtors and their advisors in identifying and
>        evaluating strategic financial and restructuring
>        alternatives;
>
>    (e) support or assist investment banks of the Debtors in
>        their efforts to sell or restructure the business entity;
>
>    (f) act as a liaison between the Debtors and their investment
>        bankers;
>
>    (g) assist in providing data and information requested by
>        Houlihan, Lokey, Howard & Zukin Capital, Inc., in its
>        efforts to market and refinance the Debtors;
>
>    (h) assist Houlihan Lokey in its efforts to market or
>        refinance the Debtors;
>
>    (i) assist Houlihan, Lokey in identifying and executing an
>        alternative transaction that best meets the objectives of
>        the Debtors' and their estates; and
>
>    (j) perform other tasks as may be requested by the Debtors
>        from time to time.
>
> Capstone has provided services to the Debtors since May 2006.
> At that time, Capstone was hired, through the Debtors' counsel,
> O'Melveny & Myers, LLP, to review the Debtors' short-term and
> long-term financial forecasts, and assist the Debtors in
> identifying and evaluating restructuring alternatives.
>
> The Debtors will pay Capstone hourly rates on actual hours
> worked at Capstone's standard hourly rates in effect when the
> services are rendered.  Capstone's hourly rates are:
>
>    Designation                    Hourly Rate
>    -----------                    -----------
>    Executive Directors          US$505 - US$595
>    Staff                        US$275 - US$475
>    Support                       US$90 - US$200
>
> The Capstone employees that are expected to be directly
> responsible for the engagement and their hourly rates are:
>
>    * Mark Rohman, Capstone Executive Director -- US$595
>    * Monique Atkins                           -- US$450
>
> Representing the Debtors, Mark D. Collins, Esq., at Richards,
> Layton & Finger, PA, in Wilmington, Delaware, noted that there
> will be a fee awarded to Capstone upon the completion of a
> successful sale or refinancing of the Debtors, equal to 30% of
> any transaction fee or financing fee paid by the Debtors to
> Houlihan Lokey.
>
> In addition, Mr. Collins stated that Capstone will be reimbursed
> for all reasonably incurred out-of-pocket expenses in connection
> with the rendering of services.  These include travel, lodging,
> costs of reproduction, reasonable out-of-pocket counsel fees and
> other direct expenses.
>
> The Debtors will also indemnify Capstone for its services.
>
> Mr. Rohman assured the Court that Capstone and its partners and
> associates do not have any connection with or any adverse
> interest to the Debtors, their creditors, or any other parties-
> in-interest.
>
>                     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 around 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 US$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)
>
>
> ARCSTREAM AV: Creditors' Meeting Slated for March 2
> ---------------------------------------------------
> Creditors of Arcstream AV Ltd. will meet at 11:00 a.m. on
> March 2 at:
>
>          Berg Kaprow Lewis LLP
>          35 Ballards Lane
>          London
>          N3 1XW
>          England
>
> Creditors who want to vote at the meeting have until noon on
> March 1 to submit their proxy forms together with particulars of
> their claims or of any security at the said address.
>
> Stewart T. Bennett of Berg Kaprow Lewis LLP will furnish
> creditors with information concerning the company's affairs free
> of charge as they may reasonably require.
>
>
> AUTOWORLD DISCOUNTS: Creditors' Meeting Slated for February 26
> --------------------------------------------------------------
> Creditors of Autoworld Discounts Ltd. will meet at 11:00 a.m. on
> Feb. 26 at the offices of:
>
>          BDO Stoy Hayward LLP
>          Commercial Buildings
>          11-15 Cross Street
>          Manchester
>          M2 1BD
>          England
>
> David Swaden and Matthew Dunham of BDO Stoy Hayward LLP will
> furnish creditors with information concerning the company's
> affairs free of charge as is reasonably required.
>
> BDO Stoy Hayward -- http://www.bdo.co.uk/-- focuses on business
> assurance (audit), corporate advisory, tax, and investment
> management services, specializing in such industries as
> charities, educational institutions, family businesses,
> financial services, leisure, and hospitality.  The company is
> the U.K. arm of BDO International and has offices in more than
> 15 cities throughout the U.K.
>
>
> BAA PLC: Unveils Redevelopment Plans for Heathrow's Terminal 3
> --------------------------------------------------------------
> BAA has unveiled plans to re-develop Heathrow's Terminal 3 and
> modernize the terminal's forecourt as part of its investment
> program to transform the central terminal area at the airport.
> This work will significantly improve the passenger experience,
> reduce traffic congestion, develop better pedestrian routes and
> improve security in the area in front of Terminal 3.
>
> The opening of a new multi-storey car park and the demolition of
> the old car park 3 has made way for the re-development of
> Terminal 3's forecourt and an extension to the south east side
> of the terminal building.
>
> Forecourt re-development:
>
>    -- will provide a new four lane drop off forecourt, creating
>       around 40% additional capacity to relieve congestion and
>       provide better access
>
>    -- a new 40m deep pedestrianized plaza with a large canopy in
>       front of the terminal to provide a sheltered area for
>       passengers front of the terminal to provide a sheltered
>       area for passengers and clear orientation zones to check-
>       in
>
>    -- a new subway connection from the existing subway to the
>       new plaza for improved access to public transport
>
>    -- provision of kerbside check in opportunities
>
> Check-in extension:
>
>    -- a glass atrium style extension to the front elevation of
>       the south east side of Terminal 3 to provide around
>       900 msquared of additional circulation and check-in space
>
>    -- a new stairway, with lifts and escalators, to provide
>       passengers with easier access to departure areas
>
> There will also be a new Drive Thru check in facility for Virgin
> Atlantic's Upper Class passengers and a dedicated back of house
> area for consolidated retail deliveries to reduce the number of
> delivery vehicles and their journeys to and from the terminal.
>
> "This re-development of Terminal 3 is an important step towards
> transforming Heathrow into a modern gateway for the U.K.  The
> new forecourt will provide a lighter, more spacious environment
> for our passengers and airlines.  The re-development will take
> place this year and we expect to have the terminal's
> improvements and forecourt ready by the end of 2007.  The
> changes will significantly improve our passengers' experience of
> Terminal 3 as we prepare for the terminal being occupied by
> different airlines from 2008," BAA Heathrow CEO Tony Douglas
> said.
>
>                           About BAA Plc
>
> Headquartered in London, United Kingdom, BAA plc (LSE: BAA) --
> http://www.baa.com/-- owns and operates seven airports in the
> United Kingdom, including Healthrow, the world's busiest
> international airport, and Budapest Airport, serving 700
> destination by around 300 airlines.  Its airports in the U.K.
> handled over 117 million international passenger during the 12
> months up to October 2005.  International passengers make up 81%
> of its total U.K. airport traffic.  BAA had total assets of
> GBP15.2 billion and pre-tax profits of GBP757 million for the
> year ended March 31, 2006.
>
>                         *     *     *
>
> As of Feb. 6, BAA Plc carries these ratings from Moody's:
>
>    -- Issuer Rating: Ba1
>    -- GBP425-million convertible bonds due August 2009: Ba1
>    -- GBP424-million convertible bonds due April 2008: Ba1
>    -- GBP200-million 7.875% bonds due February 2007: Ba1
>
>
> BLUE LAMP: Creditors' Meeting Slated for February 22
> ----------------------------------------------------
> Creditors of Blue Lamp Security Ltd. will meet at 11:00 a.m. on
> Feb. 22 at:
>
>          Novotel
>          21 Dickinson Street
>          Manchester
>          M1 4LX
>          England
>
> Creditors who want to vote at the meeting have until noon on
> Feb. 21 to submit their proxy forms together with particulars of
> their claims or of any security at the offices of:
>
>          Kroll
>          The Observatory
>          Chapel Walks
>          Manchester
>          M2 1HL
>          England
>
> The proxy form and statement may be posted or sent by fax to
> 0161 838 4501.
>
> 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. 20 and Feb. 21 at Kroll.
>
> Kroll Ltd. -- http://www.krollworldwide.com/-- offers risk-
> consulting services worldwide.  The firm is an operating unit of
> Marsh & McLennan Companies, Inc., the global professional
> services firm.  Kroll's services include corporate advisory and
> restructuring, financial accounting, valuation and litigation,
> electronic evidence and data recovery, business intelligence and
> investigations, background screening, and security services.
>
>
> CDO ELECTRONICS: Appoints Laurence Pagden as Liquidator
> -------------------------------------------------------
> Laurence Pagden of Benedict Mackenzie LLP was appointed
> liquidator of CDO Electronics Ltd. on Feb. 1 for the creditors'
> voluntary winding-up procedure.
>
> The company can be reached at:
>
>          CDO Electronics Ltd.
>          17 Bowater Road
>          Greenwich
>          London
>          SE185TF
>          England
>          Tel: 020 8855 9508
>          Fax: 020 8316 1892
>
>
> COLLINS & AIKMAN: Has Until Feb. 20 to Mail Solicitation Papers
> ---------------------------------------------------------------
> The Honorable Steven W. Rhodes of the U.S. Bankruptcy Court for
> the Eastern District of Michigan directs that the First Amended
> Joint Plan filed by Collins & Aikman Corp. and its debtor-
> affiliates on Jan. 24, or its Court-approved summaries,
> accompanying disclosure statement, and a ballot conforming to
> Official Form 13 be mailed to creditors, equity holders and
> other parties-in-interest, and be transmitted to the United
> States Trustee, no later than Feb. 20.
>
> The Court previously set April 9 as the deadline by which
> holders must accept or reject the Plan, and the deadline to file
> any objections to the Plan's confirmation.
>
> The hearing to consider confirmation of the Plan is scheduled to
> begin on April 19.
>
> As reported in the TCR-Europe on Feb. 7, Judge Rhodes fixed
> Jan. 26 as the record date for determining:
>
>    (i) the creditors that are entitled to receive Solicitation
>        Documents pursuant to the Solicitation Procedures;
>
>   (ii) the creditors entitled to vote to accept or reject the
>        Plan; and
>
>  (iii) whether Claims have been properly transferred to an
>        assignee pursuant to Rule 3001(e) of the Federal Rules of
>        Bankruptcy Procedure such that the assignee can vote as
>        the Holder of the Claim.
>
> Headquartered in Troy, Michigan, Collins & Aikman Corp.
> -- http://www.collinsaikman.com/-- is a global leader in
> cockpit modules and automotive floor and acoustic systems and is
> a leading supplier of instrument panels, automotive fabric,
> plastic-based trim, and convertible top systems.  The Company
> has a workforce of around 23,000 and a network of more than 100
> technical centers, sales offices and manufacturing sites in 17
> countries throughout the world.  The Company and its debtor-
> affiliates filed for chapter 11 protection on May 17, 2005
> (Bankr. E.D. Mich. Case No. 05-55927).  Richard M. Cieri, Esq.,
> at Kirkland & Ellis LLP, represents C&A in its restructuring.
> Lazard Freres & Co., LLC, provides the Debtor with investment
> banking services.  Michael S. Stammer, Esq., at Akin Gump
> Strauss Hauer & Feld LLP, represents the Official Committee of
> Unsecured Creditors Committee.  When the Debtors filed for
> protection from their creditors, they listed US$3,196,700,000 in
> total assets and US$2,856,600,000 in total debts.  (Collins &
> Aikman Bankruptcy News, Issue No. 52; Bankruptcy Creditors'
> Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)
>
>
> COLLINS & AIKMAN: Wachovia Has Until Feb. 28 to Answer Charge
> -------------------------------------------------------------
> The Honorable Steven W. Rhodes of the U.S. Bankruptcy Court for
> the Eastern District of Michigan extended until Feb. 28, 2007,
> Wachovia Bank and Trust Company, N.A.'s deadline to file, at its
> behest, an answer to Collins & Aikman Corp. and its debtor-
> affiliates' complaint asking the Court to direct Wachovia to
> turnover property that is currently being held in trust by the
> Bank and seeking damages for alleged breach of contract.
>
> In December 1986, the Debtors established a trust to pay
> supplemental retirement benefits to Donald F. McCullough, the
> former chief executive officer of Collins & Aikman Corp.
> Wachovia serves as Trustee of the C&A Rabbi Trust.
>
> Wachovia did not discontinue the payment of benefits under the
> Trust.  Instead, between June 2005 and October 2005, Wachovia
> continued to use or invade the Trust Assets to pay monthly
> benefits to Louise V. McCullough, the surviving spouse of
> Mr. McCullough and the sole remaining beneficiary of the Trust,
> aggregating US$35,215.
>
> The Debtors and Wachovia are currently in the process of
> negotiating a settlement agreement to resolve all issues
> relating to the adversary proceeding, and both agree that
> additional time is needed to finalize the settlement.
>
> Headquartered in Troy, Michigan, Collins & Aikman Corp.
> -- http://www.collinsaikman.com/-- is a global leader in
> cockpit modules and automotive floor and acoustic systems and is
> a leading supplier of instrument panels, automotive fabric,
> plastic-based trim, and convertible top systems.  The Company
> has a workforce of around 23,000 and a network of more than 100
> technical centers, sales offices and manufacturing sites in 17
> countries throughout the world.  The Company and its debtor-
> affiliates filed for chapter 11 protection on May 17, 2005
> (Bankr. E.D. Mich. Case No. 05-55927).  Richard M. Cieri, Esq.,
> at Kirkland & Ellis LLP, represents C&A in its restructuring.
> Lazard Freres & Co., LLC, provides the Debtor with investment
> banking services.  Michael S. Stammer, Esq., at Akin Gump
> Strauss Hauer & Feld LLP, represents the Official Committee of
> Unsecured Creditors Committee.  When the Debtors filed for
> protection from their creditors, they listed US$3,196,700,000 in
> total assets and US$2,856,600,000 in total debts.  (Collins &
> Aikman Bankruptcy News, Issue No. 52; Bankruptcy Creditors'
> Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).
>
>
> COLLINS SERVICES: Creditors Confirm Liquidators' Appointment
> ------------------------------------------------------------
> Creditors of Collins Services (Bradford) Ltd. confirmed on
> Feb. 7 the company's resolutions for voluntary liquidation and
> the appointment of Allan Cooper and John Russell of The P&A
> Partnership as liquidators.
>
> The P&A Partnership (aka Poppleton and Appleby) --
> http://www.thepandapartnership.com/-- acts for all clearing
> banks and a growing number of factors and asset lenders.  Its
> clients include multinational PLCs, SMEs, financial
> institutions, accountants, solicitors and business advisors
>
> The company can be reached at:
>
>          Collins Services (Bradford) Ltd.
>          Robin Mills
>          Leeds Road
>          Idle
>          Bradford
>          West Yorkshire
>          BD109TE
>          England
>          Tel: 01274 618 126
>
>
> ELVA FUNDING: S&P Puts Class IV_2016's BB+ Rating on Watch
> ----------------------------------------------------------
> After running its month-end SROC figures, Standard & Poor's
> Ratings Services has taken CreditWatch actions on 5 of Elva
> Funding PLC's synthetic CDO tranches.
>
>    EUR79.5 Million Secured Floating-Rate Credit-Linked Notes
>    Series 2006-2
>
>    Class            To                 From              SROC
>
>    IIA_2013         A-/Watch Neg       A-                99.9943
>    IIB_2013         A-/Watch Neg       A-                99.9943
>    IIA_2016         A-/Watch Neg       A-                99.9966
>    IIB_2016         A-/Watch Neg       A-                99.9966
>    IV_2016          BB+/Watch Neg      BB+               99.9898
>
>
> Moreover, Standard & Poor's has taken these specific actions on
> 36 European synthetic CDO tranches:
>
>    -- ratings on 10 tranches were placed on CreditWatch with
>       negative implications.
>
>    -- ratings on 24 tranches were placed on CreditWatch with
>       positive implications.
>
>    -- ratings on 2 tranches were removed from CreditWatch
>       negative and affirmed.
>
> The SROC levels for the ratings placed on CreditWatch negative
> fell below 100% during the January month-end run. These SROC
> figures will be published in the SROC report covering January
> 2007, which is imminent.
>
> Following publication of the latest SROC report, a full review
> of the affected tranches will take place, and the appropriate
> actions will be published in the February rating action media
> release.  All other tranches in the transactions listed are
> unaffected by these rating actions.
>
> The Global SROC Report provides SROC and other performance
> metrics on over 2,000 individual CDO tranches.
>
>
>                           RATINGS LIST
>
> Class            To                 From               SROC
>
> Aphex Capital PLC
>    EUR15 million Kalgoorlie Secured Callable Portfolio
>    Credit-Linked Floating-Rate Notes Series 2006-28
>
>                  AA-/Watch Neg      AA-                99.7123
>
> Arosa Funding Ltd.
>    US$10 million Class A Secured Fixed-Rate Step-Up Credit-
>    Linked Notes Series 2006-3
>
> A                A+                 A+/Watch Neg       100.0128
>
> Arosa Funding Ltd.
>    EUR5 million Class B Secured Floating-Rate Credit-Linked
>    Notes Series 2006-3
>
> B                A+                 A+/Watch Neg       100.0128
>
> Asgard CDO PLC
>    EUR459.5 million, NZ$10 million, CHF11 million, GBP4 million,
>    and US$10 million Fixed- And Floating-Rate Credit-Linked
>    Notes - Deutsche Bank AG
>
> D                AA/Watch Pos       AA                 103.4729
>
> Deutsche Bank AG, London Branch
>    EUR15 million Portfolio Credit-Linked Notes Series 439
>
>                  A-/Watch Pos       A-                 100.4390
>
> Eirles Two Ltd.
>    US$15 million Floating-Rate Portfolio Credit-Linked Secured
>    Notes Series 260
>
>                  AA/Watch Neg       AA                 99.9047
>
> Elva Funding PLC
>    EUR20 million Secured Floating-Rate Credit-Linked Notes
>    Series 2006-1
>
>                  A/Watch Neg        A                  99.9877
>
> Heather Finance Ltd.
>    EUR85 million Credit-Linked Floating-Rate Notes Series 2004-
>    04
>
> II               AA-/Watch Neg      AA-                99.3725
>
> Hummingbird Securitisation Ltd.
>    11 billion Secured Fixed- And Floating-Rate Notes Series 1
>
> E                AA-/Watch Pos      AA-                100.3303
>
> Ionia Capital PLC
>    EUR26 million Secured Fixed- And Floating-Rate Credit-Linked
>    Notes Series 2006-5
>
> Ae1              AAA/Watch Neg      AAA                99.7301
> Ae2              AAA/Watch Neg      AAA                99.7301
> Ae3              AAA/Watch Neg      AAA                99.7301
> Be2              AA/Watch Neg       AA                 99.8185
> Ce2              A/Watch Neg        A                  99.7982
>
> London Wall 2002-2 PLC
>    EUR1.6 billion Credit Default Swaps And EUR116.6 million,
>    US$25 million, And NZ$20 million Floating-Rate Credit-Linked
>    Notes
>
> B1               AA/Watch Pos       AA                 104.6818
> B2               AA/Watch Pos       AA                 104.6818
> C                A/Watch Pos        A                  103.5880
> D                BBB/Watch Pos      BBB                102.3722
> E                BB+/Watch Pos      BB+                102.2936
>
> Ocelot CDO I PLC
>    US$7 million Class C Floating Spread Coupon Credit-Linked
>    Notes Series 2004-20
>
> C                AA-/Watch Pos      AA-                100.5152
>
> Omega Capital Investments PLC
>    US$10 million Class AA-U5 Secured Floating-Rate Notes Series
>    33
>
> AA-U5            AA/Watch Neg       AA                 99.8369
>
> SGA Societe Generale Acceptance N.V.
>    US$2 million Portfolio Credit-Linked Notes Series 4324/03-3
>
>                  AA-/Watch Pos      AA-                102.5300
>
> SGA Societe Generale Acceptance N.V.
>    EUR20 million Portfolio Credit-Linked Notes Series 4459/03-4
>
>                  AA-/Watch Pos      AA-                102.7524
>
> SGA Societe Generale Acceptance N.V.
>    EUR40 million Portfolio Credit-Linked Notes Series 5738/04-01
>
>                  A-/Watch Pos       A-                 100.6332
>
> SGA Societe Generale Acceptance N.V.
>    EUR25 million Channel Portfolio Credit-Linked Notes Series
>    5809/04-03
>
>                  AA-/Watch Pos      AA-                100.9863
>
> SGA Societe Generale Acceptance N.V.
>    EUR20 million Channel Portfolio Credit-Linked Notes Series
>    6440/04.6
>
>                  AA-/Watch Pos      AA-                101.5298
>
> St. Maarten CDO Ltd.
>    EUR75 million Secured Fixed- Variable- And Floating-Rate
>    Notes Series 1
>
> B-1              AA/Watch Pos       AA                 103.6592
> B-2              AA/Watch Pos       AA                 103.6592
> B-3              AA/Watch Pos       AA                 103.6592
> C-1              A+/Watch Pos       A+                 102.8549
> C-2              A+/Watch Pos       A+                 102.8549
> C-3              A+/Watch Pos       A+                 102.8549
>
> Thunderbird Investments PLC
>    US$60.23 million Secured Fixed-Rate Notes Series 18
>
> B                A/Watch Pos        A                  100.7017
>
> Trees S.A.
>    EUR8.5 million Floating-Rate Notes Series 73
>
> A                A-/Watch Pos       A-                 101.0633
> B                A-/Watch Pos       A-                 101.0633
>
> United Global Investment Grade CDO III Ltd.
>    US$68 million Credit-Linked Floating-Rate Notes
>
> B                AA-/Watch Pos      AA-                100.9578
>
>
> GENERAL MOTORS: In Talks on Possible Purchase of Chrysler Group
> ---------------------------------------------------------------
> DaimlerChrysler AG and General Motors Corp. are in talks about a
> possible purchase of the Chrysler Group by GM, according to
> German publication Manager Magazin.
>
> According to various news agencies, DaimlerChrysler hired
> JPMorgan for advice regarding strategic alternatives.
>
> In a TCR report Feb. 15, DaimlerChrysler Chairman of the Board
> of Management Dr. Dieter Zetsche said, "... in order to optimize
> and accelerate the presented plan, we are looking into further
> strategic options with partners....  In this regard, we do not
> exclude any option in order to find the best solution for both
> the Chrysler Group and DaimlerChrysler."
>
> GM and DaimlerChrysler AG's Chrysler Group are also in talks of
> an alliance to share costs of chassis designs and reduce
> development expenses for a large sport utility vehicle, Jeff
> Green and Jeff Bennett of Bloomberg report citing people
> familiar with the talks.
>
> GM and the Chrysler Group have been discussing the matter for
> six months without reaching an agreement, the Wall Street
> Journal notes.
>
>                     About General Motors Corp.
>
> General Motors Corp. (NYSE: GM) -- http://www.gm.com/-- is the
> world's largest automaker and has been the global industry sales
> leader since 1931.  Founded in 1908, GM employs about 284,000
> people around the world.  It has manufacturing operations in 33
> countries and its vehicles are sold in 200 countries.  GM sells
> cars and trucks under these brands: Buick, Cadillac, Chevrolet,
> GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and
> Vauxhall.
>
>                        About DaimlerChrysler
>
> Based in Stuttgart, Germany, DaimlerChrysler AG --
> http://www.daimlerchrysler.com/-- develops, manufactures,
> distributes, and sells various automotive products, primarily
> passenger cars, light trucks, and commercial vehicles worldwide.
> It primarily operates in four segments: Mercedes Car Group,
> Chrysler Group, Commercial Vehicles, and Financial Services.
>
> The Chrysler Group segment offers cars and minivans, pick-up
> trucks, sport utility vehicles, and vans under the Chrysler,
> Jeep, and Dodge brand names.  It also sells parts and
> accessories under the MOPAR brand.
>
> The Chrysler Group is facing a difficult market environment in
> the United States with excess inventory, non-competitive legacy
> costs for employees and retirees, continuing high fuel prices
> and a stronger shift in demand toward smaller vehicles.  At the
> same time, key competitors have further increased margin and
> volume pressures -- particularly on light trucks -- by making
> significant price concessions.  In addition, increased interest
> rates caused higher sales & marketing expenses.
>
> In order to improve the earnings situation of the Chrysler Group
> as quickly and comprehensively, measures to increase sales and
> cut costs in the short term are being examined at all stages of
> the value chain, in addition to structural changes being
> reviewed as well.
>
>
> FORD MOTOR: Russian Workers Go Back to Work After One-Day Strike
> ----------------------------------------------------------------
> Ford Motor Company's plant in Russia resumed production on
> Feb. 15 after workers dropped their tools for a one-day strike,
> angling for better pay and benefits, while continuing talks to
> settle the dispute, Reuters reports.
>
> "Both sides are interested in reaching a new labor agreement,"
> said Yekaterina Kulinenko, a Ford Russia spokeswoman, following
> a meeting between management and union leaders.
>
> Nearly 1,400 workers at the St. Petersburg plant went on strike
> Feb. 14, angling for higher pay and more benefits for working
> under hazardous conditions, the Associated Press states.
>
> The workers warned that they would resume their strike if their
> demands were not met.  Aside from more pay and benefits, they
> also want the company to stop hiring temporary staff and give
> guarantee jobs to workers injured at the plant, AP relates.
>
> Temporary workers comprise 8% of the plant's total workforce.
> Average monthly wages at the plant range from RUR13,000 to
> RUR19,000 (US$495-US$720), AP reveals.
>
> Management is offering a wage hike of 14-20% and bonuses for
> workers that have been with the plant for more than five years.
> They also proposed an add-on of RUR7,400 ($280) to the bonus for
> having a baby, as well as interest-free credit, Reuters adds.
>
> Published reports say the company plans to accelerate the import
> of 1,700 Ford Focus cars to make up for the possible loss in
> production due to the strike.  It also aims to import 2,300 Ford
> Focus cars to address the model's shortage in Russia.
>
> Plant officials plan to increase production to 75,000 in 2007,
> compared with about 60,000 cars manufactured in 2006, which were
> mostly the Focus model, AP discloses.
>
> The strike is a sign of industrial turmoil in Russia, with
> workers asking for a share in the profits from the country's
> economic boom over the past eight years, Reuters observes.
>
> Foreign automobile makers in Russia are currently enjoying a
> boost in sales, with Ford being the most successful after
> reporting total sales of 116,000 locally produced and imported
> vehicles in Russia in 2006, Reuters reveals.  It plans to sell
> 150,000 in 2007, AP says.
>
> Consultants Ernst & Young estimates 2006 market growth at 14.4%
> to 1.84 million vehicles per year.  Sales of new foreign cars in
> 2005 increased 60% to 563,400, AP reports.
>
> St. Petersburg welcomed a number of automakers that have based
> operations there, taking advantage of tax breaks and
> infrastructure.  General Motors Corp. broke ground in June, at a
> site just outside the city, on its first fully owned plant in
> Russia, AP states.
>
> Volkswagen AG entered into an agreement with the Russian
> government in May to build a US$500 million plant near Moscow.
> France's Renault SA, South Korea's Kia Motors Corp. and Japan's
> Toyota Motor Corp. have all been operating in Russia since 2005,
> AP relates.
>
>                       About Ford Motor Co.
>
> Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
> http://www.ford.com/-- manufactures and distributes automobiles
> in 200 markets across six continents.  With more than 324,000
> employees worldwide, the company's core and affiliated
> automotive brands include Aston Martin, Ford, Jaguar, Land
> Rover, Lincoln, Mazda, Mercury, and Volvo.  Its automotive-
> related services include Ford Motor Credit Company and The Hertz
> Corporation.
>
>                            *     *     *
>
> As reported in the TCR-Europe on Dec. 13, 2006, Standard &
> Poor's Ratings Services affirmed its 'B' bank loan and '2'
> recovery ratings on Ford Motor Co. after the company increased
> the size of its proposed senior secured credit facilities to
> between US$17.5 billion and US$18.5 billion, up from US$15
> billion.
>
> As reported in the Troubled Company Reporter on Dec. 7, 2006,
> Fitch Ratings downgraded Ford Motor Company's senior unsecured
> ratings to 'B-/RR5' from 'B/RR4' due to the increase in size of
> both the secured facilities and the senior unsecured convertible
> notes being offered.
>
> As reported in the Troubled Company Reporter on Dec. 6, 2006,
> Moody's Investors Service assigned a Caa1, LGD4, 62% rating to
> Ford Motor Company's US$3 billion of senior convertible notes
> due 2036.
>
>
> GRACECHURCH CORPORATE: Moody's Rates Four Debt Classes at Low-B
> ---------------------------------------------------------------
> Moody's Investors Service assigned these definitive ratings
> related to Gracechurch Corporate Loans Series 2007-1 issued by
> Lambda Finance B.V., a Dutch special service vehicle:
>
>    -- GBP1.046-billion Class A1 Secured Floating Rate
>       Notes due 2031: Aaa;
>
>    -- EUR1.059-billion Class A2 Secured Floating Rate Notes due
>       2031: Aaa;
>
>    -- US$2.290-billion Class A3 Secured Floating Rate Notes due
>       2031: Aaa;
>
>    -- GBP106.7-million Class AB1 Secured Floating Rate Notes due
>       2031: Aaa;
>
>    -- EUR103.7-million Class AB2 Secured Floating Rate Notes due
>       2031: Aaa;
>
>    -- GBP32.6-million Class B1 Secured Floating Rate Notes due
>       2031: Aa2;
>
>    -- EUR65.15-million Class B2 Secured Floating Rate Notes due
>       2031: Aa2;
>
>    -- US$10-million Class B3 Secured Floating Rate Notes due
>       2031: Aa2;
>
>    -- GBP36.4-million Class C1 Secured Floating Rate Notes due
>       2031: A2;
>
>    -- EUR70.6-million Class C2 Secured Floating Rate Notes due
>       2031: A2;
>
>    -- US$23-million Class C3 Secured Floating Rate Notes due
>       2031: A2;
>
>    -- GBP33-million Class D1 Secured Floating Rate Notes due
>       2031: Baa3;
>
>    -- EUR40.25-million Class D2 Secured Floating Rate Notes due
>       2031: Baa3;
>
>    -- GBP43.1-million Class E1 Secured Floating Rate
>       Notes due 2031: Ba2;
>
>    -- EUR40.95-million Class E2 Secured Floating Rate
>       Notes due 2031: Ba2;
>
>    -- GBP28.05-million Class F1 Secured Floating Rate Notes due
>       2031: B2;
>
>    -- EUR26.5-million Class F2 Secured Floating Rate Notes due
>       2031: B2; and
>
>    -- GBP70-million Class G Secured Floating Rate Notes due 2031
>       have also been issued but are not rated by Moody's.
>
> The ratings issued address the expected loss posed to investors
> by the legal final maturity.
>
> The definitive ratings of the notes are based upon:
>
>    (1) an assessment of the credit quality of the underlying
>        entities;
>
>    (2) the loss protection provided by the subordination of the
>        more junior ranking classes of Notes and by the first
>        loss piece of GBP70-million;
>
>    (3) the excess spread and reserve account mechanism (which
>        could add up to GBP 22.75m per annum); and
>
>    (4) the legal and structural integrity of the transaction.
>
> Gracechurch Corporate Loans Series 2007-1 is a fully funded
> synthetic transaction, arranged by Barclays Capital, in which
> investors are exposed to the credit risk related to a portfolio
> of loans extended by Barclays to the U.K. SME companies.  The
> credit risk transferred by Barclays Bank PLC through this
> transaction is related to a total portfolio of GBP3.5 billion.
> This reference pool is made up initially of 1434 separate
> obligors. Throughout the three-year revolving period, Barclays
> can replenish the portfolio subject to satisfying certain
> criteria.
>
>
> HAIRFLAIR MAGAZINES: Joint Liquidators Take Over Operations
> -----------------------------------------------------------
> Richard Howard Toone and William John Turner of Chantrey
> Vellacott DFK LLP were appointed joint liquidators of Hairflair
> Magazines Ltd. on Jan. 26 for the creditors' voluntary winding-
> up procedure.
>
> Chantrey Vellacott DFK -- http://www.cvdfk.com/-- provides
> accounting, taxation and related advisory services.
>
> The company can be reached at:
>
>          Hairflair Magazines Ltd.
>          Freebournes Road
>          Witham
>          Essex
>          CM8 3UH
>          England
>          Tel: 01376 534 500
>
>
> J. E. NOZEDAR: Hires Liquidators from Taylor Rowlands
> -----------------------------------------------------
> John Harvey Madden and Peter William Gray of Taylor Rowlands
> were appointed joint liquidators of J. E. Nozedar Ltd. on Feb. 7
> for the creditors' voluntary winding-up proceeding.
>
> The company can be reached at:
>
>          J. E. Nozedar Ltd.
>          10-12 Lorne Street
>          Middlesbrough
>          Cleveland
>          TS1 5QY
>          England
>          Tel: 01642 224 193
>          Fax: 01642 217 457
>
>
> JAMES ROSS: Appoints Joint Administrators from PwC
> --------------------------------------------------
> Ian Green and Steve Ellis of PricewaterhouseCoopers LLP were
> appointed joint administrators of James Ross & Son (Newcastle)
> Ltd. on Feb. 15.
>
> "The company has experienced tough trading conditions, in
> particular an inability to secure price increases from customers
> in the face of increased raw material and energy costs.
> Following the efforts to restructure the business the directors
> have concluded the company does not have sufficient funds
> available to support ongoing operations.  Consequently, there
> was no option than to appoint administrators," Mr. Green
> commented.
>
> PricewaterhouseCoopers LLP -- http://www.pwcglobal.com/--
> provides auditing services, accounting advice, tax compliance
> and consulting, financial consulting and advisory services to
> clients in a variety of industries.
>
> Headquartered in Newburn, England, James Ross & Son (Newscastle)
> Ltd. -- http://www.pickles-r-ross.co.uk/-- is an independent
> pickling company in the U.K. with an annual turnover of around
> GBP6 million.  It employs 37 staff.
>
>
> KITCHEN DESIGN: Creditors' Meeting Slated for February 23
> ---------------------------------------------------------
> Creditors of Kitchen Design House Ltd. will meet at 11:30 a.m.
> on Feb. 23 at the offices of:
>
>          Lewis Alexander & Connaughton
>          Boulton House
>          Second Floor
>          17-21 Chorlton Street
>          Manchester
>          M1 3HY
>          England
>
> A list of names and addresses of the company's creditors will be
> available for inspection free of charge on Feb. 21.
>
>
> LAWYERS 4 ALL: Creditors Confirm Liquidators' Appointment
> ---------------------------------------------------------
> Creditors of Lawyers 4 All Ltd. confirmed on Jan. 31 the
> appointment of Nigel Price and Mark Elijah Thomas Bowen of Moore
> Stephens LLP as joint liquidators of the company.
>
> Moore Stephens -- http://www.moorestephens.co.uk/-- offers
> audit, business support, corporate finance, corporate recovery,
> dispute analysis, financial services, insurance broking, IT
> consultancy, pensions audit, risk advisory services, tax, and
> trusts & estates services.  Its U.K. network comprises over
> 1,400 partners and staff.
>
> The company can be reached at:
>
>          Lawyers 4 All Ltd.
>          West Midlands House
>          Gipsy Lane
>          Willenhall
>          West Midlands
>          WV132HA
>          England
>          Tel: 0870 755 7824
>
>
> LINEA CLOTHING: Creditors' Meeting Slated for February 22
> ---------------------------------------------------------
> Creditors of Linea Clothing Ltd. will meet at 11:00 a.m. on
> Feb. 22 at:
>
>          The Kelmanson Partnership
>          Avco House
>          6 Albert Road
>          Barnet
>          Hertfordshire
>          EN4 9SH
>          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. 20.
>
>
> LINK BUILDING: Claims Filing Period Ends March 22
> -------------------------------------------------
> Creditors of Link Building Services Ltd. have until March 22 to
> send their names and addresses with particulars of their debts
> or claims, and the names and addresses of their solicitors (if
> any) to:
>
>          Ashok K. Bhardwaj
>          Liquidator
>          Bhardwaj Insolvency Practitioners
>          47-49 Green Lane
>          Northwood
>          Middlesex
>          HA6 3AE
>          England
>
> Ashok K. Bhardwaj of Bhardwaj Insolvency Practitioners was
> appointed liquidator of the company on Feb. 7.
>
> The company can be reached at:
>
>          Link Building Services Ltd.
>          Link House
>          Kelpatrick Road
>          Slough
>          Berkshire
>          SL1 6BW
>          England
>          Tel: 01628 660 022
>          Fax: 01628 660 555
>
>
> LONDON WALL: S&P Puts Class E Notes' BB+ Rating on Watch
> --------------------------------------------------------
> After running its month-end SROC figures, Standard & Poor's
> Ratings Services has taken CreditWatch specific actions on five
> of London Wall's synthetic CDO tranches.
>
>    EUR1.6 billion Credit Default Swaps And EUR116.6 million,
>    US$25 million, And NZ$20 million Floating-Rate Credit-Linked
>    Notes
>
> Class            To                 From               SROC
>
> B1               AA/Watch Pos       AA                 104.6818
> B2               AA/Watch Pos       AA                 104.6818
> C                A/Watch Pos        A                  103.5880
> D                BBB/Watch Pos      BBB                102.3722
> E                BB+/Watch Pos      BB+                102.2936
>
>
> In addition, Standard & Poor's has taken specific actions on 36
> European synthetic CDO tranches:
>
>    -- ratings on 15 tranches were placed on CreditWatch with
>       negative implications.
>
>    -- ratings on 24 tranches were placed on CreditWatch with
>       positive implications.
>
>    -- ratings on 2 tranches were removed from CreditWatch
>       negative and affirmed.
>
> The SROC levels for the ratings placed on CreditWatch negative
> fell below 100% during the January month-end run. These SROC
> figures will be published in the SROC report covering January
> 2007, which is imminent.
>
> Following publication of the latest SROC report, a full review
> of the affected tranches will take place, and the appropriate
> actions will be published in our February rating action media
> release. All other tranches in the transactions listed are
> unaffected by these rating actions.
>
> The Global SROC Report provides SROC and other performance
> metrics on over 2,000 individual CDO tranches.
>
>
>                           RATINGS LIST
>
> Class            To                 From               SROC
>
> Aphex Capital PLC
>    EUR15 million Kalgoorlie Secured Callable Portfolio
>    Credit-Linked Floating-Rate Notes Series 2006-28
>
>                  AA-/Watch Neg      AA-                99.7123
>
> Arosa Funding Ltd.
>    US$10 million Class A Secured Fixed-Rate Step-Up Credit-
>    Linked Notes Series 2006-3
>
> A                A+                 A+/Watch Neg       100.0128
>
> Arosa Funding Ltd.
>    EUR5 million Class B Secured Floating-Rate Credit-Linked
>    Notes Series 2006-3
>
> B                A+                 A+/Watch Neg       100.0128
>
> Asgard CDO PLC
>    EUR459.5 million, NZ$10 million, CHF11 million, GBP4 million,
>    and US$10 million Fixed- And Floating-Rate Credit-Linked
>    Notes - Deutsche Bank AG
>
> D                AA/Watch Pos       AA                 103.4729
>
> Deutsche Bank AG, London Branch
>    EUR15 million Portfolio Credit-Linked Notes Series 439
>
>                  A-/Watch Pos       A-                 100.4390
>
> Eirles Two Ltd.
>    US$15 million Floating-Rate Portfolio Credit-Linked Secured
>    Notes Series 260
>
>                  AA/Watch Neg       AA                 99.9047
>
> Elva Funding PLC
>    EUR20 million Secured Floating-Rate Credit-Linked Notes
>    Series 2006-1
>
>                  A/Watch Neg        A                  99.9877
>
> Elva Funding PLC
>    EUR79.5 million Secured Floating-Rate Credit-Linked Notes
>    Series 2006-2
>
> IIA_2013         A-/Watch Neg       A-                 99.9943
> IIB_2013         A-/Watch Neg       A-                 99.9943
> IIA_2016         A-/Watch Neg       A-                 99.9966
> IIB_2016         A-/Watch Neg       A-                 99.9966
> IV_2016          BB+/Watch Neg      BB+                99.9898
>
> Heather Finance Ltd.
>    EUR85 million Credit-Linked Floating-Rate Notes Series 2004-
>    04
>
> II               AA-/Watch Neg      AA-                99.3725
>
> Hummingbird Securitisation Ltd.
>    JPY11 billion Secured Fixed- And Floating-Rate Notes Series 1
>
> E                AA-/Watch Pos      AA-                100.3303
>
> Ionia Capital PLC
>    EUR26 million Secured Fixed- And Floating-Rate Credit-Linked
>    Notes Series 2006-5
>
> Ae1              AAA/Watch Neg      AAA                99.7301
> Ae2              AAA/Watch Neg      AAA                99.7301
> Ae3              AAA/Watch Neg      AAA                99.7301
> Be2              AA/Watch Neg       AA                 99.8185
> Ce2              A/Watch Neg        A                  99.7982
>
> Ocelot CDO I PLC
>    US$7 million Class C Floating Spread Coupon Credit-Linked
>    Notes Series 2004-20
>
> C                AA-/Watch Pos      AA-                100.5152
>
> Omega Capital Investments PLC
>    US$10 million Class AA-U5 Secured Floating-Rate Notes Series
>    33
>
> AA-U5            AA/Watch Neg       AA                 99.8369
>
> SGA Societe Generale Acceptance N.V.
>    US$2 million Portfolio Credit-Linked Notes Series 4324/03-3
>
>                  AA-/Watch Pos      AA-                102.5300
>
> SGA Societe Generale Acceptance N.V.
>    EUR20 million Portfolio Credit-Linked Notes Series 4459/03-4
>
>                  AA-/Watch Pos      AA-                102.7524
>
> SGA Societe Generale Acceptance N.V.
>    EUR40 million Portfolio Credit-Linked Notes Series 5738/04-01
>
>                  A-/Watch Pos       A-                 100.6332
>
> SGA Societe Generale Acceptance N.V.
>    EUR25 million Channel Portfolio Credit-Linked Notes Series
>    5809/04-03
>
>                  AA-/Watch Pos      AA-                100.9863
>
> SGA Societe Generale Acceptance N.V.
>    EUR20 million Channel Portfolio Credit-Linked Notes Series
>    6440/04.6
>
>                  AA-/Watch Pos      AA-                101.5298
>
> St. Maarten CDO Ltd.
>    EUR75 million Secured Fixed- Variable- And Floating-Rate
>    Notes Series 1
>
> B-1              AA/Watch Pos       AA                 103.6592
> B-2              AA/Watch Pos       AA                 103.6592
> B-3              AA/Watch Pos       AA                 103.6592
> C-1              A+/Watch Pos       A+                 102.8549
> C-2              A+/Watch Pos       A+                 102.8549
> C-3              A+/Watch Pos       A+                 102.8549
>
> Thunderbird Investments PLC
>    US$60.23 million Secured Fixed-Rate Notes Series 18
>
> B                A/Watch Pos        A                  100.7017
>
> Trees S.A.
>    EUR8.5 million Floating-Rate Notes Series 73
>
> A                A-/Watch Pos       A-                 101.0633
> B                A-/Watch Pos       A-                 101.0633
>
> United Global Investment Grade CDO III Ltd.
>    US$68 million Credit-Linked Floating-Rate Notes
>
> B                AA-/Watch Pos      AA-                100.9578
>
>
> LPC CHEMICAL: Claims Filing Period Ends March 30
> ------------------------------------------------
> Creditors of LPC Chemical Solutions Ltd. have until March 30 to
> send in their full names, their addresses and descriptions, full
> particulars of their debts or claims, and the names and
> addresses of their solicitors (if any) to:
>
>          Dilip K. Dattani
>          Liquidator
>          Tenon Recovery
>          1 Bede Island Road
>          Bede Island Business Park
>          Leicester
>          LE2 7EA
>          England
>
> Dilip K. Dattani of Tenon Recovery was appointed liquidator of
> the company on Nov. 22.
>
> The company can be reached at:
>
>          LPC Chemical Solutions Ltd.
>          Unit 5
>          Sleekburn Business Centre
>          West Sleekburn
>          Bedlington
>          Northumberland
>          NE227DD
>          England
>          Tel: 01670 522 225
>          Fax: 01670 523 355
>
>
> M J FIRE: Creditors' Meeting Slated for February 22
> ---------------------------------------------------
> Creditors of M J Fire Protection Ltd. will meet at 11:15 a.m. on
> Feb. 22 at:
>
>          21 Decimus Park
>          Kingstanding Way
>          Tunbridge Wells
>          Kent
>          TN2 3GP
>          England
>
> Creditors who want to vote at the meeting have until noon on
> Feb. 21 to submit their proxy forms together with particulars of
> their claims or of any security at the offices of:
>
>          Turpin, Barker Armstrong
>          Allen House
>          1 Westmead Road
>          Sutton
>          Surrey
>          SM1 4LA
>          England
>
> Martin Charles Armstrong of Turpin Barker Armstrong will furnish
> creditors with information concerning the company's affairs free
> of charge as they may reasonably require.
>
> Turpin Barker Armstrong -- http://www.turpinba.co.uk/--
> provides accounting, tax and business advisory services.
>
>
> NORTHAMPTON ALUMINIUM: Creditors Confirm Voluntary Liquidation
> --------------------------------------------------------------
> Creditors of Northampton Aluminium Co. Ltd. confirmed on Feb. 1
> the company's resolutions for voluntary liquidation and the
> appointment of John Russell and Andrew Philip Wood of The P&A
> Partnership as liquidators.
>
> The P&A Partnership (aka Poppleton and Appleby) --
> http://www.thepandapartnership.com/-- acts for all clearing
> banks and a growing number of factors and asset lenders.  Its
> clients include multinational PLCs, SMEs, financial
> institutions, accountants, solicitors, and business advisors.
>
> The company can be reached at:
>
>          Northampton Aluminium Co. Ltd.
>          2 Clayfield Close
>          Moulton Park Industrial Estate
>          Northampton
>          Northamptonshire
>          NN3 6QF
>          England
>          Tel: 01604 648 900
>          Fax: 01604 648 948
>
>
> OXYGEN TRADING: Brings In Liquidators from Gerald Edelman
> ---------------------------------------------------------
> Bernard Hoffman and Ian Yerrill of Gerald Edelman Business
> Recovery were appointed joint liquidators of Oxygen Trading Co.
> Ltd. (formerly Details Shoes Ltd. and Oxygen Trading Co. Ltd.)
> (t/a Details) on Feb. 6 for the creditors' voluntary winding-up
> proceeding.
>
> 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.
>
> The company can be reached at:
>
>          Oxygen Trading Co. Ltd.
>          248 Camden High Street
>          Camden
>          London
>          NW1 8QS
>          England
>          Fax: 020 7485 7581
>
>
> PRIME TRANSPORT: Creditors' Meeting Slated for February 26
> ----------------------------------------------------------
> Creditors of Prime Transport Services Ltd. will meet at
> 2:30 p.m. on Feb. 26 at:
>
>          1 Kings Avenue
>          Winchmore Hill
>          London
>          N21 3NA
>          England
>
> A list of names and addresses of the company's creditors will be
> available for inspection free of charge on Feb. 22.
>
>
> PULSE AUTOMATION: Creditors Confirm Liquidator's Appointment
> ------------------------------------------------------------
> Creditors of Pulse Automation Ltd. confirmed on Feb. 1 the
> appointment of Ian William Kings of Tenon Recovery as the
> company's liquidator.
>
> Tenon Recovery -- http://www.tenongroup.com/-- provides
> accounting and business advice to owner-managed and private
> business.
>
> The company can be reached at:
>
>          Pulse Automation Ltd.
>          Graythorp
>          Hartlepool
>          Cleveland
>          TS252DS
>          England
>          Tel: 01429 297 000
>
>
> SMILES ON FACES: Creditors' Meeting Slated for February 21
> ----------------------------------------------------------
> Creditors of Smiles On Faces Ltd. will meet at 11:30 a.m. on
> Feb. 21 at:
>
>          The Freemasons Hall
>          36 Bridge Street
>          Manchester
>          M3 3BT
>          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 at the offices of:
>
>          Tomlinsons
>          Business Development Centre
>          Eanam Wharf
>          Blackburn BB1 5BL
>          England
>
> Tomlinsons -- http://www.tomlinsons.co.uk/-- specializes in all
> types of business recovery and insolvency procedures, as well as
> offering advice to companies and individuals who believe they
> may be heading towards, or are already in, financial difficulty.
>
>
> SPECTRUM PROPERTY: Creditors' Meeting Slated for February 21
> ------------------------------------------------------------
> Creditors of Spectrum Property Protection (Yorkshire) Ltd. will
> meet at 10:15 a.m. on Feb. 21 at:
>
>          BWC Business Solutions
>          8 Park Place
>          Leeds
>          LS1 2RU
>          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.
>
>
> STEVE MELLOR: Joint Liquidators Take Over Operations
> ----------------------------------------------------
> Carl Derek Faulds and James Richard Tickell of Portland Business
> & Financial Solutions Ltd. were appointed joint liquidators of
> Steve Mellor Building Services Ltd. on Feb. 7 for the creditors'
> voluntary winding-up procedure.
>
> The company can be reached at:
>
>          Steve Mellor Building Services Ltd.
>          Suite 14 Somerset House
>          Westside View
>          Hussar Court
>          Waterlooville
>          Hampshire
>          PO7 7SG
>          England
>          Tel: 023 9225 0871
>
>
> TIMBER BUILDING: Creditors' Meeting Slated for February 21
> ----------------------------------------------------------
> Creditors of Timber Building Leisure Ltd. will meet at 2:15 p.m.
> on Feb. 21 at:
>
>          The Met Leeds Hotel
>          King Street
>          Leeds
>          LS1 2HQ
>          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 offices of:
>
>          Jackson Jolliffe Cork
>          33 George Street
>          Wakefield
>          WF1 1LX
>          England
>
> A list of names and addresses of the company's creditors will be
> available for inspection free of charge on Feb. 19 at Jackson
> Jolliffe Cork.
>
> Jackson Jolliffe Cork -- http://www.jjcork.co.uk/-- engages
> exclusively in business recovery and insolvency work and
> comprises certified and chartered accountants, licensed
> insolvency practitioners and business turnaround consultants,
> many having joined us from senior positions within National
> firms.
>
>
> TONY HOUSE: Taps Gary Stones to Liquidate Assets
> ------------------------------------------------
> Gary Stones of Stones & Co. was appointed liquidator of Tony
> House And Son Ltd. on Feb. 8 for the creditors' voluntary
> winding-up proceeding.
>
> The company can be reached at:
>
>          Tony House & Son Ltd.
>          Herbert Close
>          Marshfield
>          Cardiff
>          South Glamorgan
>          CF3 2UD
>          Wales
>          Tel: 01633 680 184
>          Fax: 01633 681 061
>
>
> URBAN LEISURE: Creditors' Meeting Slated for February 22
> --------------------------------------------------------
> Creditors of Urban Leisure and Recreation Ltd. will meet at
> 10:30 a.m. on Feb. 22 at:
>
>          Menzies Corporate Restructuring
>          43-45 Portman Square
>          London
>          W1H 6LY
>          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. 20.
>
> Menzies Corporate Restructuring -- http://www.menzies.co.uk/--
> provides corporate restructuring services including: services
> for directors or stakeholders of troubled businesses; services
> to Lenders of troubled businesses; raising rescue funding at
> short notice; and forensic and fraud services.
>
>
> WEBSTER COMPONENTS: Creditors' Meeting Slated for February 22
> -------------------------------------------------------------
> Creditors of Webster Components Ltd. will meet at 11:00 a.m. on
> Feb. 22 at:
>
>          Muras Baker Jones
>          Regent House
>          Bath Avenue
>          Wolverhampton
>          WV1 4EG
>          England
>
> Creditors who want to vote at the meeting have until noon on
> Feb. 21 to submit their proxy forms together with particulars of
> their claims or of any security at the said address.
>
> 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. 20.
>
>
> * BOND PRICING: For the Week February 12 to February 17, 2007
> -------------------------------------------------------------
>
> Issuer                    Coupon   Maturity   Currency   Price
> ------                    ------   --------   --------   -----
>
> AUSTRIA
> -------
> Kommunal Kredit
>   Austria AG              0.500    03/15/19     CDN      63.85
>                           0.250    10/14/26     CDN      37.62
> Republic of Austria       7.000    08/04/25     EUR      70.09
>                           5.000    10/10/25     EUR      69.41
>
> DENMARK
> -------
> Kommunekredit             0.500    05/11/29     CDN      40.57
>
> FINLAND
> -------
> Muni Finance PLC          0.250    06/28/40     CDN      19.52
>                           0.500    09/24/20     CDN      58.49
>                           1.000    11/21/16     NZD      58.08
>                           0.500    04/26/13     AUD      70.58
>                           1.000    03/19/13     AUD      73.49
>
> FRANCE
> ------
> Accor S.A.                1.750    01/01/08     EUR      71.15
> Alcatel S.A.              4.750    01/01/11     EUR      17.05
> Altran Technologies S.A.  3.750    01/01/09     EUR      12.37
> AXA S.A.                  6.000    01/29/49     EUR      70.86
> BNP Paribas               0.250    12/20/14     US$      67.67
> CAP Gemini S.A.           2.500    01/01/10     EUR      56.31
>                           1.000    01/01/12     EUR      59.71
> Club Mediterranee S.A.    3.000    11/01/08     EUR      65.68
>                           4.375    11/01/10     EUR      50.44
> Elior S.A.                1.000    06/08/07     EUR      19.82
> Havas S.A.                4.000    01/01/09     EUR      10.72
> Infogrames
>    Entertainment S.A.     4.000    04/01/09     EUR       7.15
>                           1.500    07/01/11     EUR      23.49
> Ingenico                  2.750    01/01/12     EUR      19.78
> Maurel & Prom             3.500    01/01/10     EUR      22.60
> Publicis Group            0.750    07/17/08     EUR      35.51
>                           1.000    01/18/18     EUR      44.00
> Rallye                    3.750    01/01/08     EUR      49.00
> Scor S.A.                 4.125    01/01/10     EUR       2.46
> Soc Air France            2.750    04/01/20     EUR      36.84
> Soitec                    4.625    12/20/09     EUR      22.69
> SR Teleperform            3.250    01/01/08     EUR      34.95
> Thomson (EX-TMM)          1.000    01/01/08     EUR      39.10
> Valeo                     2.375    01/01/11     EUR      47.92
> Vivendi Universal S.A.    1.750    10/30/08     EUR      32.47
> Wendel Invest S.A.        2.000    06/19/09     EUR      52.49
>
> GERMANY
> -------
> Deutsche Bank AG          5.000    10/13/35     EUR      68.81
> KfW Bankengruppe          0.500    10/30/13     AUD      67.85
>                           0.500    12/19/17     EUR      68.28
>                           5.000    07/07/20     EUR      76.53
>                           5.000    07/29/20     EUR      76.28
>                           6.000    07/21/25     EUR      73.94
>                           5.000    09/01/25     EUR      76.28
>                           5.000    08/10/30     EUR      70.61
> Landeskreditbank Baden-
>    Wuerttemberg Foerderbk 0.500    05/10/27     CDN      43.37
>
>
> ICELAND
> -------
> Kaupthing Bank            6.500    02/03/45     EUR      71.48
>
> IRELAND
> -------
> Depfa ACS Bank            0.500    03/03/25     CDN      48.48
>                           0.250    07/08/33     CDN      26.52
> Irish Perm Plc            6.125    02/15/35     EUR      70.38
> Magnolia Finance IV Plc   1.050    12/20/45     US$      25.86
>
> LUXEMBOURG
> ----------
> Parmalat Soparfi S.A.     6.125    05/23/32     EUR      43.83
> Teksid Aluminum S.A.     12.375    07/15/11     EUR      62.09
>
>
> NETHERLANDS
> -----------
> BK Ned Gemeenten          0.500    06/27/18     CDN      63.33
>                           0.500    02/24/25     CDN      48.52
>                           5.250    06/17/09     NZD      95.06
> EM.TV Finance B.V.        5.250    05/08/13     EUR       5.66
> Gerling Global
>    Rentefonds             6.625    08/16/21     EUR      59.79
> Lehman Bros TSY B.V.      8.250    03/16/35     EUR      70.50
> Ned Waterschapbk          6.500    08/15/35     EUR      71.47
>                           6.000    06/30/45     EUR      71.91
> Nib Capital Bank N.V.     7.000    02/21/40     EUR      63.60
> Parmalat Finance BV       5.500    03/30/09     EUR      27.98
> Rabobank Groep N.V.       6.000    02/22/35     EUR      76.23
>                           8.000    02/23/35     EUR      67.03
>                           5.000    02/28/35     EUR      77.02
>                           7.000    03/23/35     EUR      72.50
>                           6.000    06/30/45     EUR      73.60
>
> NORWAY
> ------
> Kommunalbanken A.S.       0.500    02/07/13     AUD      70.34
>
> SWEDEN
> ------
> AB Svensk Export          0.500    03/27/13     AUD      70.12
>
> UNITED KINGDOM
> --------------
> Anglian Water
>    Finance Plc            2.400    04/20/35     GBP      57.63
>                           1.678    07/03/56     GBP      36.83
> National Grid Gas Plc     2.228    06/28/35     GBP      57.63
>                           1.754    10/17/36     GBP      50.10
>                           1.771    03/30/37     GBP      50.15
> Royal BK Scotland Plc     0.250    03/27/14     US$      71.52
>                           9.500    04/04/25     US$      74.76
>                           7.000    06/09/25     EUR      75.44
>                           7.000    06/29/30     EUR      68.38
>                           7.000    02/15/45     US$      72.50
>                           6.500    02/23/45     EUR      72.66
> RSL Communications Plc   10.125    03/01/08     US$       6.39
> TXU Eastern Funding Co.   6.750    05/15/09     US$       4.00
> Wessex Water Finance Plc  1.369    07/31/57     GBP      33.97
>
>
>                            *********
>
> Monday's edition of the TCR delivers a list of indicative prices
> for bond issues that reportedly trade well below par.  Prices
> are obtained by TCR editors from a variety of outside sources
> during the prior week we think are reliable.  Those sources may
> not, however, be complete or accurate.  The Monday Bond Pricing
> table is compiled on the Friday prior to publication.  Prices
> reported are not intended to reflect actual trades.  Prices for
> actual trades are probably different.  Our objective is to share
> information, not make markets in publicly traded securities.
> Nothing in the TCR constitutes an offer or solicitation to buy
> or sell any security of any kind.  It is likely that some entity
> affiliated with a TCR editor holds some position in the issuers'
> public debt and equity securities about which we report.
>
> 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.
>
>
>                  * * * End of Transmission * * *