TCREUR_Public/070220.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

            Tuesday, February 20, 2007, Vol. 8, No. 36

                            Headlines


A U S T R I A

A.R.B. LLC: Claims Registration Period Ends March 21
ASTEK LLC: Vienna Court Orders Business Closure
AUMAV LLC: Claims Registration Period Ends March 21
CHECK-IN LLC: Claims Registration Period Ends March 12
ERNST EDLINGER: Vienna Court Orders Business Shutdown

HOMEBASE CC: Klagenfurt Court Orders Business Shutdown
IKARUS-ELEKTRONICS: Administrator Declares Insufficient Assets
KOMBITHERM LLC: Creditors' Meeting Slated for March 19
RAUMBAUTEN BAUSYSTEME: Claims Registration Period Ends March 15
SUBWAY LLC: Creditors' Meeting Slated for February 26


F R A N C E

ALCATEL-LUCENT: Inks Network Upgrade Deal with OJSC VimpelCom
EUROTUNNEL GROUP: Tier 3 Holders & Bondholders Underwrite Notes
MACDERMID INC: Moody's Junks US$215-Mln Subordinated Notes


G E R M A N Y

AFH STAHLBAU: Claims Registration Period Ends March 20
ALFA-BAU GMBH: Claims Registration Period Ends March 14
ALUMINIUMBAU OBERCRINITZ: Claims Registration Ends March 20
ARCO SCHREINEREI: Claims Registration Period Ends March 14
BOGENDOERFER GMBH: Claims Registration Period Ends March 30

BSS TRANSPORTE: Claims Registration Period Ends March 14
COMTECH COMPUTER: Claims Registration Period Ends March 15
DEVON MEDICAL: Claims Registration Period Ends March 16
DUERR AG: Earns EUR7 Million for Financial Year 2006
H. VIESEL ESTRICH: Claims Registration Period Ends March 9

HALO BAU: Claims Registration Ends March 12
HUCKE AG: Claims Registration Period Ends April 11
IBF BAUTRAGER: Claims Registration Ends March 6
IRMLER METALLVERARBEITUNG: Claims Registration Ends March 5
KCT LOGISTIK: Claims Registration Ends March 12

MARX-GARAGEN GMBH: Claims Registration Ends March 19
PROVIDE BRICKS: S&P Assigns BB Rating to EUR6-Mln Class D Notes
PORTAL BAUGESELLSCHAFT: Claims Registration Ends May 18
ROLOG GMBH: Claims Registration Ends April 26
RP BAU: Claims Registration Ends March 12

SACHSER POLSTERMOEBEL: Creditors Must File Claims by March 12
SADIA SA: Moody's Affirms Ba2 Currency Corporate Family Rating
SEEKOM VERLAG: Creditors Must Register Claims by April 2
SNC SECURE: Creditors Must Register Claims by March 5
SUPERCOM GMBH: Creditors Must Register Claims by March 15

TEXTIL-PARFUEMERIE-SUSSWAREN Proofs of Claims Due March 14
THALLER KUNSTSTOFFTECHNIK: Claims Registration Ends March 28
THOMAS BANZHAF: Claims Registration Ends March 23
TOURISTIK-MEDIEN GMBH: Claims Registration Ends April 26
VERCALLPRO-SCHWERIN: Claims Registration Ends March 12

VERWALTUNGSGESELLSCHAFT: Claims Registration Ends May 1
WLV GMBH: Claims Registration Period Ends March 12
WM-SERVICE MASZKE: Claims Registration Period Ends March 26
WOHNBAUTEN IN TEGEL: Claims Registration Period Ends April 30
WOHNENS GMBH: Claims Registration Period Ends March 29


I T A L Y

PARMALAT SPA: Milan Prosecutors Want Trial for Five Banks


K A Z A K H S T A N

ALTYN BULAK-SERVICE: Creditors Must File Claims by March 30
DARHAN LLP: Creditors' Claims Due March 23
KAISTROYSERVICE LLP: Court Starts Bankruptcy Proceedings
KAZSTROYSERVICEPLUS LLP: Claims Registration Ends March 30
KIRPISH ZAUYTY: Claims Filing Period Ends March 30

KURMANGAZY LLP: Creditors Must File Claims by March 30
MANAM-M LLP: Creditors' Claims Due March 23
MODERN SERVICE: Proof of Claim Deadline Slated for March 30
SYRDARYA-AMANGELDY: Claims Registration Ends March 23
TRANS MISSION: Claims Filing Period Ends March 30


K Y R G Y Z S T A N

GLOBALINK B.V.: Claims Filing Period Ends March 30
VESTA-TOKMOK LLC: Public Auction Scheduled for March 5


P O R T U G A L

ARROW ELECTRONICS: Names John McMahon as Human Resources Sr. VP


R U S S I A

BIRCH OJSC: Asset Sale Slated for February 26
BOGORODSK-OIL-PRODUCT: Creditors Must File Claims by March 3
NEVO-WOOD CJSC: Creditors Must File Claims by February 27
NORTH WOOD: Creditors Must File Claims by February 27
NOVORZHEV-AGRO-PROM-KHIMIYA: Claims Filing Period Ends Feb. 27

PETERBURGSKAYA BUILDING: Creditors Must File Claims by Feb. 27
PETRO-OIL-SERVICE OJSC: Creditors Must File Claims by Feb. 27
PONOMAREVKA-TRANS OJSC: Creditors Must File Claims by March 3
PRECHISTENSKIY CHEESE: Bankruptcy Hearing Slated for March 13
ROS-INVEST CJSC: Creditors Must File Claims by March 3

RUBY LLC: Creditors Must File Claims by February 27
SEV-TORG-FURNITURE + LLV: Court Starts Bankruptcy Supervision
TECHNOLOGY CJSC: Creditors Must File Claims by February 27
WORLD CJSC: Creditors Must File Claims by February 27
ZOLOTUKHINSKAYA SEL-KHOZ-KHIMIYA: Claims Deadline Set March 3


S W I T Z E R L A N D

CADIFRA JSC: Creditors' Liquidation Claims Due March 5
CIMA FASHION: Creditors' Liquidation Claims Due March 5
CONNOR HANDEL: St. Gallen Court Starts Bankruptcy Proceedings
CSC FINANCIAL: Creditors' Liquidation Claims Due February 26
ELASIC JSC: Creditors' Liquidation Claims Due March 5

HOFLAGE JSC: Creditors' Liquidation Claims Due March 5
SCHURPACK JSC: Creditors' Liquidation Claims Due March 5
SI LA COTIERE: Creditors' Liquidation Claims Due March 5
SIMSA JSC: St. Gallen Court Closes Bankruptcy Proceedings
SKEN JSC: Creditors' Liquidation Claims Due March 8

SWISSAIR: Prosecutor Says "Miserable Management" Led to Collapse


U K R A I N E

ALCATEL-LUCENT: Inks Network Upgrade Deal with OJSC VimpelCom
AUTOHAUS-IVANOV: Creditors Must Submit Claims by March 8
ETALON-AUTO-LUGANSK: Claims Submission Deadline Set March 8
NOVOSANZHARSK BREADRECEIVING: Proofs of Claim Due March 8
PALENERGY LLC: Claims Submission Deadline Set March 8

UKRSOTSBANK: Fitch Puts B- Rating to US$400-Million Loan
VIMPEL-COMMUNICATIONS: Taps Alcatel-Lucent to Upgrade Network
VTP KORVET: Claims Submission Deadline Set March 8


U N I T E D   K I N G D O M

ADVANCED MARKETING: Amends Wells Fargo DIP Loan Facility
ADVANCED MARKETING: Creditors Object to Hiring of Houlihan Lokey
ADVANCED MARKETING: Inks LOI with Baker & Taylor on Asset Sale
AEG AGENCIES: Taps William Paxton to Liquidate Assets
ALTERNATIVE PVCU: Creditors Confirm Liquidators' Appointment

ARCADIA STOVES: Claims Filing Period Ends March 22
BAA PLC: Heathrow Unit to Re-Develop Terminal 3
BENJYS LTD: Brings In KPMG LLP as Joint Administrators
BLUE CHIP: Moody's Lifts Ba1 Rating to Baa3 on EUR25-Mln Notes
BNP PARIBAS: Moody's Rates Bifrost Series 17 Notes at Ba1

BNP PARIBAS: Moody's Puts Ba1 Rating to EUR50-Mln Class 5D Notes
CLUBFIRST LTD: Creditors' Meeting Slated for February 23
COLLINS & AIKMAN: Wants JCI Parties' Customer Agreement Approved
COMSEC LTD: I. D. Holland Leads Liquidation Procedure
CONWY ENERGY: Creditors' Meeting Slated for February 28

DUPLI PHOTO: Appoints T. Papanicola as Liquidator
ESTERLINE TECH: Moody's Puts Low-B Ratings on Financial Risks
EXPELBECK LTD: Creditors Confirm Liquidator's Appointment
EUROTUNNEL GROUP: Tier 3 Holders & Bondholders Underwrite Notes
FONE BOUTIQUE: Creditors' Meeting Slated for February 22

H.M.H. CONSTRUCTION: Names Keith Barry Stout Liquidator
ILFORD PRINT: Creditors' Meeting Slated for March 1
INTEGRITY RECRUITMENT: Appoints PwC to Administer Assets
ISOFT GROUP: Australia's IBA Health Sets Up All-Share Bid
J C PIPE: Hires Liquidator from Begbies Traynor

JWT SCOTLAND: Difficult Trading Conditions Spur Administration
LEARNING DESIGN: Appoints Liquidator from Begbies Traynor
M.A.P. WOODCRAFT: Brings In Mazars LLP to Administer Assets
MCCARTHY DESIGN: Names Ninos Koumettou as Administrator
MIDLAND SHEETMETAL: Appoints Joint Administrators from PwC

MIGHTY MUESLI: Creditors' Meeting Slated for February 23
MILLENNIUM FURNITURE: Creditors' Meeting Slated for February 23
MODULAR WIRING: Appoints Joint Administrators from DTE Leonard
NEW SOUND: Taps Robert Day to Liquidate Assets
NEW WAVES: Brings In Ray Purnell as Administrator

OSLO LTD: Creditors Confirm Liquidator's Appointment
PAD INTERIORS: Hires Ian Franses to Liquidate Assets
PAF HOLDINGS: Names Lloyd Biscoe Liquidator
PALADIN WHOLESALE: Appoints William Paxton as Liquidator
PEMBROKESHIRE SKILLS: Creditors' Meeting Slated for March 2

PROSOL ELECTRONICS: Appoints Joint Administrators from Kroll Ltd
PUKKA CLOTHING: Joint Liquidators Take Over Operations
QUICKFISH LTD: Taps Joint Administrators from Jacksons Jolliffe
R C TUCKER: Appoints Duncan Roderick Morris as Administrator
RILEY ELECTRICAL: Creditors' Meeting Slated for February 23

RUNRIG INTERNATIONAL: Hires Liquidator from Antony Batty & Co
SCREEN ARTS: Brings In Liquidator from Begbies Traynor
SEABAY LTD: Brings In Jacksons Jolliffe as Joint Administrators
SNMP LTD: Brings In Liquidators from Rothman Pantall & Co
SOLUTIA INC: Court Extends Removal of Actions Period Until May 7

TERABYTE COMPUTER: Creditors Confirm Liquidator's Appointment
UPGRADE RECRUITMENT: K. T. Brown Leads Liquidation Procedure
VINYL TECHNIQUES: Creditors' Meeting Slated for March 1
VIOLET INK: Taps Liquidator from B & C Associates
VOLCLAY LTD: Creditors' Meeting Slated for March 5

WATERTRONICS INT'L: Taps Hurst Morrison as Administrators
WHAT C: Creditors' Meeting Slated for February 28

* Large Companies with Insolvent Balance Sheets

                            *********

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


A.R.B. LLC: Claims Registration Period Ends March 21
----------------------------------------------------
Creditors owed money by LLC A.R.B. (FN 240388m) have until
March 21 to file written proofs of claim to court-appointed
estate administrator Widukind W. Nordmeyer at:

         Dr. Leopold Riess
         c/o Dr. Eva Riess
         Zeltgasse 3/12
         1080 Vienna
         Austria
         Tel: 402 57 01
         E-mail: law@riess.co.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:50 a.m. on April 4 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1707
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 31 (Bankr. Case No. 2 S 18/07w).  Eva Riess represents
Dr. Riess in the bankruptcy proceedings.


ASTEK LLC: Vienna Court Orders Business Closure
-----------------------------------------------
The Trade Court of Vienna entered Jan. 12 an order closing the
business of LLC Astek (FN 269755z).

Court-appointed estate administrator Thomas Steiner recommended
the business closure after determining that the continuing
operations would reduce the value of the estate.

The estate administrator can be reached at:

         Mag. Thomas Steiner
         c/o Dr. Renate Steiner
         Weihburggasse 18-20/50
         1010 Vienna
         Austria
         Tel: 513 53 63
         Fax: 513 53 63-17
         E-mail: steiner.steiner@aon.at

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 12 (Bankr. Case No. 3 S 5/07s).  Renate Steiner
represents Mag. Steiner in the bankruptcy proceedings.


AUMAV LLC: Claims Registration Period Ends March 21
---------------------------------------------------
Creditors owed money by LLC Aumav (FN 101999z) have until
March 21 to file written proofs of claim to court-appointed
estate administrator Susi Pariasek at:

         Dr. Susi Pariasek
         c/o Mag. Beate Holper
         Gonzagagasse 15
         1010 Vienna
         Austria
         Tel: 533 28 55
         E-mail: office@anwaltwien.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on April 4 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1707
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 31 (Bankr. Case No. 2 S 17/07y).  Beate Holper
represents Dr. Pariasek in the bankruptcy proceedings.


CHECK-IN LLC: Claims Registration Period Ends March 12
------------------------------------------------------
Creditors owed money by LLC Check-In (FN 256214k) have until
March 12 to file written proofs of claim to court-appointed
estate administrator Wilhelm Lackner at:

         Mag. Wilhelm Lackner
         Esterhazyplatz 6a
         7000 Eisenstadt
         Austria
         Tel: 02682/64044
         Fax: 02682/64044-30
         E-mail: ra.schreiner@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:45 a.m. on March 26 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Eisenstadt
         Hall F
         Eisenstadt, Austria

Headquartered in Donnerskirchen, Austria, the Debtor declared
bankruptcy on Jan. 31 (Bankr. Case No. 26 S 15/07v).


ERNST EDLINGER: Vienna Court Orders Business Shutdown
-----------------------------------------------------
The Trade Court of Vienna entered Jan. 26 an order shutting down
the business of LLC Ernst Edlinger & Co (FN 114814w).

Court-appointed estate administrator Leopold Riess recommended
the business shutdown after determining that the continuing
operations would reduce the value of the estate.

The estate administrator can be reached at:

         Dr. Leopold Riess
         c/o Dr. Eva Riess
         Zeltgasse 3/12
         1080 Vienna
         Austria
         Tel: 402 57 01
         E-mail: law@riess.co.at

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 17 (Bankr. Case No. 2 S 9/07x).  Eva Riess represents
Dr. Riess in the bankruptcy proceedings.


HOMEBASE CC: Klagenfurt Court Orders Business Shutdown
------------------------------------------------------
The Land Court of Klagenfurt entered Feb. 8 an order shutting
down the business of LLC homebase cc Internet Service
(FN 280230d).

Court-appointed estate administrator Karl Safron recommended the
business shutdown after determining that the continuing
operations would reduce the value of the estate.

The estate administrator can be reached at:

         Dr. Karl Safron
         Alter Platz 24/III
         9020 Klagenfurt
         Austria
         Tel: 0463/915 999
         Fax: 0463/915 999 99
         E-mail: kanzlei@anwalt-safron.at

Headquartered in Klagenfurt, Austria, the Debtor declared
bankruptcy on Jan. 26 (Bankr. Case No. 41 S 137/06d).


IKARUS-ELEKTRONICS: Administrator Declares Insufficient Assets
--------------------------------------------------------------
Norbert Abel, the court-appointed estate administrator for LLC
Ikarus-Elektronics (FN 266329k), declared Feb. 8 that the
Debtor's property is insufficient to cover creditors' claim.

The Land Court of Korneuburg is yet to rule on estate
administrator's claim.

Headquartered in Leopoldsdorf bei Wien, Austria, the Debtor
declared bankruptcy on Jan. 22 (Bankr. Case No. 36 S 7/07g).
Johanna Abel-Winkler represents Mag. Abel in the bankruptcy
proceedings.

The property manager and his representative can be reached at:

         Mag. Norbert Abel
         c/o Mag. Johanna Abel-Winkler
         Franz-Josefs-Kai 49/19
         1010 Vienna
         Austria
         Tel: 01/533 52 72
         Fax: 01/533 52 72 15
         E-mail: office@abel-abel.at


KOMBITHERM LLC: Creditors' Meeting Slated for March 19
------------------------------------------------------
Creditors owed money by LLC Kombitherm (FN 259460i) are
encouraged to attend the creditors' meeting at 9:45 a.m. on
March 19 to examine 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 July 3, 2006 (Case No. 3 S 93/06f).  Helmut Platzgummer
serves as the court-appointed estate administrator of the
Debtor.  Caroline Klus represents Dr. Platzgummer in the
bankruptcy proceedings.

The estate administrator can be reached at:

         Dr. Helmut Platzgummer
         c/o Mag. Caroline Klus
         Kohlmarkt 14
         1010 Vienna
         Austria
         Tel: 533 19 39
         Fax: 533 19 39-39
         E-mail: helmut.platzgummer@lp-law.at


RAUMBAUTEN BAUSYSTEME: Claims Registration Period Ends March 15
---------------------------------------------------------------
Creditors owed money by LLC raumbauten bausysteme (FN 234739f)
have until March 15 to file written proofs of claim to court-
appointed estate administrator Widukind W. Nordmeyer at:

         Dr. Widukind W. Nordmeyer
         Pollheimerstrasse 12
         4600 Wels
         Austria
         Tel: 07242/41215
         Fax: 07242/41215-16
         E-mail: nordmeyer@nordmeyer.co.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:00 a.m. on March 29 for the
examination of claims.

The meeting of creditors will be held at:

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

Headquartered in Graz, Austria, the Debtor declared bankruptcy
on Jan. 30 (Bankr. Case No. 20 S 11/07d).


SUBWAY LLC: Creditors' Meeting Slated for February 26
-----------------------------------------------------
Creditors owed money by LLC Subway (FN 98452h) are encouraged to
attend the creditors' meeting at 11:00 a.m. on Feb. 26 to
examine claims.

The creditors' meeting will be held at:

         The Trade Court of Vienna
         Room 1701
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Nov. 23, 2005 (Case No. 6 S 149/05m).  Matthias Schmidt
serves as the court-appointed estate administrator of the
Debtor.  Florian Gehmacher represents Dr. Schmidt in the
bankruptcy proceedings.

The estate administrator can be reached at:

         Dr. Matthias Schmidt
         c/o Dr. Florian Gehmacher
         Dr. Karl Lueger-Ring 12
         1010 Vienna
         Austria
         Tel: 533 16 95
         Fax: 535 56 86
         E-mail: schmidt@preslmayr.at
                 gehmacher@preslmayr.at


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


ALCATEL-LUCENT: Inks Network Upgrade Deal with OJSC VimpelCom
-------------------------------------------------------------
OJSC Vimpel-Communications has selected Alcatel-Lucent to
upgrade and enhance the operator's wireless network with the
latest generation of Alcatel-Lucent's GSM/EDGE radio platform,
which is based on the industry most advanced hardware
architecture.

With its compact new design and high performance, this platform
will leverage VimpelCom's existing radio access network
investments while reducing operating expenses.

Following intensive and successful testing carried out jointly
with VimpelCom, the new platform is planned for commercial
deployment for the first time throughout Russia and the
Commonwealth of Independent States (CIS) on the operator's
existing network built on Alcatel-Lucent systems.

Alcatel-Lucent's 9130 Base Station Controller/Multi-BSC Fast
Packet Server (BSC/MFS) is a new BSS (Base Station Sub-System)
controllerplatform that supports the ever-increasing market-
driven volume of voice and data traffic.  This state-of-the art
equipment based on the field-proven Advanced Telecom Computing
Architecture (ATCA) will enable VimpelCom to create a more
centralised and optimized GSM/EDGE network architecture, thereby
bringing significant cost savings in network deployments and
extensions.

"Rapidly evolving market conditions combined with the ongoing
introduction of innovative subscriber services and applications
dictate the need for a high degree of flexibility and
scalability within network infrastructures," said Sergey Avdeev,
VimpelCom executive vice-president of business development in
the CIS and VimpelCom CTO.  "We are confident that with Alcatel-
Lucent's 9130 BSC/MFS we are geared for future network
evolutions, including full IP connectivity."

"This is the first commercial deployment of Alcatel-Lucent's
9130 BSC/MFS, and we are very proud of that and of being
selected once again by VimpelCom to provide the technology
needed to further develop its network," said Johan
Vanderplaetse, President of Alcatel-Lucent's activities in CIS.
"This further demonstrates Alcatel-Lucent's commitment in
delivering the most advanced GSM/EDGE solution for network
expansion.  As VimpelCom's network grows and evolves, the
requirement for more base station controllers will increase,
requiring state-of-the art equipment that can deliver the new
services and IP-based applications that VimpelCom's customers
will expect."

Mr. Vanderplaetse added that Alcatel-Lucent's solution will
prepare VimpelCom for a next-generation network architecture
that will ease the introduction of new advanced services while
decreasing operating expenses and optimizing the ability of
their network to accommodate growth.

Alcatel-Lucent has more than 170 GSM/EDGE customers in more than
90 countries, making it a leading provider of mobile
communications solutions. Alcatel-Lucent is boosting its
GSM/EDGE portfolio by introducing the field-proven ATCA-based
BSC Evolution associated with the powerful TWIN Transceiver
module

                       About VimpelCom

Headquartered in Moscow, Russia, OJSC Vimpel-Communications
(NYSE: VIP) -- http://www.vimpelcom.com/-- provides mobile
telecommunications services in Russia and Kazakhstan with newly
acquired operations in Ukraine, Tajikistan and Uzbekistan.  The
Company operates under the 'Beeline' brand in Russia and
Kazakhstan.  In addition, VimpelCom is continuing to use 'K-
mobile' and 'EXCESS' brands in Kazakhstan.  The group wholly
owns Mobitel in Georgia.

                    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's Long-Term Corporate Credit rating
and Senior Unsecured Debt carry Standard & Poor's BB- rating.
It's Short-Term Corporate Credit rating stands at B.

Moody's, on the other hand, put a Ba2 rating on Alcatel's
Corporate Family and Senior Debt rating.  Lucent carries Moody's
B1 Senior Debt rating and B2 Subordinated debt & trust preferred
rating.

Fitch rates Alcatel's Issuer Default Rating and Senior Unsecured
Debt rating at BB.


EUROTUNNEL GROUP: Tier 3 Holders & Bondholders Underwrite Notes
---------------------------------------------------------------
Eurotunnel Group stated that the notes redeemable in shares
(NRS) for the four holders of Tier 3 debt, who opted to exercise
cash option, have been fully underwritten by the other holders
of Tier 3 and by a majority of the bondholders.

The monetization of these NRS is therefore guaranteed through
the cash made available by the creditors who have put themselves
forward to underwrite the available NRS.  Eurotunnel will not be
required to fund payment of the cash option.

A priority reserve of GBP60 million of NRS will be available to
Eurotunnel shareholders who took part in the Exchange Tender
Offer.

As reported in the TCR-Europe on Feb. 6, four holders
representing 32.5% of the company's GBP575 million Tier 3 debt
opted to exercise the cash option.

The company's safeguard plan, approved by the Paris Commercial
Court on Jan. 15, allowed that in exchange for abandoning their
debt, the holders of Tier 3 debt will receive notes redeemable
in shares (NRS) issued by the new company, Eurotunnel Group U.K.
Plc, and redeemable in ordinary shares in the new company Groupe
Eurotunnel SA.

                        About Eurotunnel

Headquartered in Folkestone, United Kingdom and Calais, France,
Eurotunnel Group -- http://www.eurotunnel.co.uk/-- operates a
fleet of 25 shuttle trains, which carry cars, coaches and
trucks.  It manages the infrastructure of the Channel Tunnel and
receives toll revenues from train operating companies whose
trains pass through the Tunnel.

The British and French governments have granted Eurotunnel a
concession to operate the Channel Tunnel until 2086.

Eurotunnel Group files reports in the U.S. Securities and
Exchange Commission under the names of Eurotunnel PLC (ETNUF.PK)
and Eurotunnel SA (ETTFF.PK).

                        *     *     *

Eurotunnel's crisis began when costs to build the tunnels that
connect U.K. and France started to overrun before it opened in
1994.  The Iraq war followed, which didn't help as tourist
traffic fell.  In May 2004, Eurotunnel appointed Lazard (global
coordinator) and Lehman Brothers as bank advisors, and Dresdner
Kleinwort Wasserstein as restructuring adviser.

In July 2004, auditor KPMG Audit Plc said the company faced
uncertainty after 2005.  The firm's survival is dependent upon
its ability to put in place a refinancing plan or, if not, to
obtain an agreement with the lenders under the existing Credit
Agreement within the next two years, the auditor said.

Eurotunnel obtained Aug. 2, 2006, an order placing the channel
operator under the protection of the Court pursuant to the new
safeguard legislation (Procedure de sauvegarde).

On Jan. 15, the Court approved Eurotunnel's safeguard plan,
backed by the court-appointed representatives to the company and
to the creditors.


MACDERMID INC: Moody's Junks US$215-Mln Subordinated Notes
----------------------------------------------------------
Moody's Investors Service assigned a B2 corporate family rating
to MacDermid Inc. and assigned ratings and loss given default
assessments to the company's proposed bank and public debt
financings.

Proceeds from the new debt offerings combined with private
equity investments from funds managed by Court Square Capital
Partners and Weston Presidio, along with an investment from
MacDermid's CEO, Daniel Leever, and management will be used to
purchase all of MacDermid's outstanding stock in a transaction
valued at approximately US$1.3 billion.  These are first time
ratings for MacDermid as a privately held corporation.  The
rating outlook is stable.

These summarizes the ratings activity:

Ratings assigned:

   * MacDermid, Incorporated

     -- Corporate family rating -- B2

     -- Probability of default rating -- B2

     -- US$50-million Gtd Sr Sec revolving credit facility due
        2013 -- B1, LGD3, 33%

     -- US$510-million Gtd Sr Sec term loan due 2014 -- B1,
        LGD3, 33%

     -- US$250-million Gtd Sr Unsec notes due 2014-2015 -- B2,
        LGD4, 53%

     -- US$215-million Gtd Sr subordinated notes due 2017 --
        Caa1, LGD6, 92%

MacDermid's B2 corporate family rating reflects the company's
high leverage, elevated interest expense and limited growth
opportunities in certain businesses.  The company has grown top
line sales over the past three years, however earnings have not
kept pace.  While the overall EBITDA for the company has been
relatively stable over the past three years, certain of the
company's businesses have grown sales and profits, and other
businesses have turned in lackluster returns.  Moody's expect
that MacDermid should be better positioned to grow after the
introduction of certain new products and the integration of the
2005 Autotype acquisition.  The notes will be privately placed
and the company does not plan to register the notes at a later
time.  As a result, the company does not anticipate that it will
file public financial statements, but will provide more
abbreviated disclosure to debt holders.

The ratings are supported by MacDermid's relatively stable
EBITDA margins that have remained positive despite some adverse
market conditions over the past seven years, geographic,
operation and product diversity, strong market positions in
certain niche markets, modest capital expenditure requirements
and limited exposure to volatile raw materials costs.

The stable outlook reflects Moody's expectation that MacDermid
will be able to grow its sales and apply positive free cash flow
to debt reduction.  The outlook also assumes that MacDermid will
smoothly transition to a private ownership structure and be
capable of shouldering the significant new debt burden.  Before
an upgrade could be considered, Moody's would expect to see
MacDermid demonstrate the ability to generate EBITDA greater
than US$160 million per year and maintain a Debt / EBITDA ratio
less than 7.0 times on a sustained basis as well as generate
meaningful free cash flow.  Should the company not be successful
in improving profitability and generating meaningful free cash
flow to be applied towards debt reduction, the ratings could
come under negative pressure.

MacDermid, headquartered in Denver, Colorado, is a global
producer of a wide variety of specialty chemicals and equipment
for use in industries ranging from plastic and metal surface
treatment, off-shore oil and gas exploration, to printing.
Revenues were US$0.8 billion for the LTM ended Sept. 30, 2006.


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


AFH STAHLBAU: Claims Registration Period Ends March 20
------------------------------------------------------
Creditors of AFH Stahlbau GmbH & Co. KG have until March 20 to
register their claims with court-appointed insolvency manager
Hans-Albrecht Brauer.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 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 Wittlich
         Hall 3
         Kurfuerstenstrasse 63
         54516 Wittlich
         Germany

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

The insolvency manager can be contacted at:

         Hans-Albrecht Brauer
         Jahnstr. 1
         54550 Daun
         Germany
         Tel: 06592/985604
         Fax: 06592/7344

The District Court of Wittlich opened bankruptcy proceedings
against AFH Stahlbau GmbH & Co. KG on Feb. 5.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         AFH Stahlbau GmbH & Co. KG
         Bergfried 3
         56841 Traben-Trarbach
         Germany

         Attn: Arthur Josef Fischer, Manager
         Enkircherweg 2
         56843 Burg
         Germany


ALFA-BAU GMBH: Claims Registration Period Ends March 14
-------------------------------------------------------
Creditors of ALFA-Bau GmbH Schwedt have until March 14 to
register their claims with court-appointed insolvency manager
Falk Eppert.

Creditors and other interested parties are encouraged to attend
the meeting at 9:55 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 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:

         Falk Eppert
         Vietmannsdorfer Strasse 23
         17268 Templin
         Germany

The District Court of Frankfurt (Oder) opened bankruptcy
proceedings against ALFA-Bau GmbH Schwedt on Feb. 6.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         ALFA-Bau GmbH Schwedt
         Steinstrasse 7 b
         16303 Schwedt (Oder)
         Germany


ALUMINIUMBAU OBERCRINITZ: Claims Registration Ends March 20
-----------------------------------------------------------
Creditors of Aluminiumbau Obercrinitz GmbH have until March 20
to register their claims with court-appointed insolvency manager
Thomas Heilmann.

Creditors and other interested parties are encouraged to attend
the meeting at 2:30 p.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 Chemnitz
         Hall 24
         Fuerstenstrasse 21
         Chemnitz
         Germany

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

The insolvency manager can be contacted at:

         Thomas Heilmann
         Barbarossastrasse 2
         09112 Chemnitz
         Germany
         Tel: (0371) 4330044
         Fax: (0371) 4330049
         Web site: http://www.Heilmann.LI/

The District Court of Chemnitz opened bankruptcy proceedings
against Aluminiumbau Obercrinitz GmbH on Feb. 5.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         Aluminiumbau Obercrinitz GmbH
         Attn: Andreas Heinzel, Manager
         Gewerbepark 2
         08147 Crinitzberg OT Obercrinitz
         Germany


ARCO SCHREINEREI: Claims Registration Period Ends March 14
----------------------------------------------------------
Creditors of ARCO Schreinerei GmbH have until March 14 to
register their claims with court-appointed insolvency manager
Wolfgang Maus.

Creditors and other interested parties are encouraged to attend
the meeting at 11:20 a.m. on March 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Bad Kreuznach
         Hall 309
         Ringstrasse 79
         55543 Bad Kreuznach
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 10:00 a.m. on April 23, at the same venue.

The insolvency manager can be contacted at:

         Dr. Wolfgang Maus
         Fachanwalt fuer Insolvenzrecht
         Mannheimer Str. 254a
         D 55543 Bad Kreuznach
         Germany
         Tel: 0671-79496-13
         Fax: 0671-79496-10

The District Court of Bad Kreuznach opened bankruptcy
proceedings against ARCO Schreinerei GmbH on Feb. 5.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         ARCO Schreinerei GmbH
         Schulstr. 1
         56290 Goedenroth
         Germany

         Attn: Guenther Kasper, Manager
         Rittersbacher Str. 23
         74834 Elztal-Auerbach
         Germany


BOGENDOERFER GMBH: Claims Registration Period Ends March 30
-----------------------------------------------------------
Creditors of Bogendoerfer GmbH have until March 30 to register
their claims with court-appointed insolvency manager
Christian Gerloff.

Creditors and other interested parties are encouraged to attend
the meeting at 9:10 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 Munich
         Meeting Hall 101
         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 contacted at:

         Christian Gerloff
         Nymphenburger Str. 139
         80636 Munich
         Germany
         Tel: 089/120260
         Fax: 089/12026127

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

The Debtor can be contacted at:

         Bogendoerfer GmbH
         Schwanthalerstr. 91
         80336 Munich
         Germany


BSS TRANSPORTE: Claims Registration Period Ends March 14
--------------------------------------------------------
Creditors of BSS Transporte GmbH have until March 14 to register
their claims with court-appointed insolvency manager Andreas
Sontopski.

Creditors and other interested parties are encouraged to attend
the meeting at 10:40 a.m. on April 11, 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 Muenster
         Meeting Hall 119 B
         Gerichtsstr. 2-6
         48149 Muenster
         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:

         Andreas Sontopski
         Gnoiener Platz 1
         48493 Wettringen
         Germany
         Tel: 02557/9384-0
         Fax: +492557938450

The District Court of Muenster opened bankruptcy proceedings
against BSS Transporte GmbH on Feb. 5.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         BSS Transporte GmbH
         Rudolf-Diesel-Strasse 2
         48432 Rheine
         Germany

         Attn: Juergen Bauma, Manager
         Keltenstiege 20
         48429 Rheine
         Germany


COMTECH COMPUTER: Claims Registration Period Ends March 15
----------------------------------------------------------
Creditors of Comtech Computer- und medizinische Software
Vertriebsgesellschaft mbH have until March 15 to register their
claims with court-appointed insolvency manager Inge Rall.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 4, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Stuttgart
         Hall 181
         First 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:

         Inge Rall
         Neckarstr. 144-146
         70190 Stuttgart
         Germany
         Tel: 0711/12090000

The District Court of Stuttgart opened bankruptcy proceedings
against Comtech Computer- und medizinische Software
Vertriebsgesellschaft mbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         Comtech Computer- und medizinische Software
         Vertriebsgesellschaft mbH
         Schwarzwaldstr. 99
         71083 Herrenberg
         Germany


DEVON MEDICAL: Claims Registration Period Ends March 16
-------------------------------------------------------
Creditors of DEVON Medical Handelsgesellschaft fuer
Medizinprodukte mbH have until March 16 to register their claims
with court-appointed insolvency manager Manfred Gottschalk.

Creditors and other interested parties are encouraged to attend
the meeting at 8:45 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 Arnsberg
         Meeting Hall 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 contacted at:

         Manfred Gottschalk
         Kirchender Dorfweg 14
         58313 Herdecke
         Germany

The District Court of Arnsberg opened bankruptcy proceedings
against DEVON Medical Handelsgesellschaft fuer Medizinprodukte
mbH on Feb. 1.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be contacted at:

         DEVON Medical Handelsgesellschaft
         fuer Medizinprodukte mbH
         Attn: Martin Linsmann, Manager
         Neuwerkstr. 32a
         58710 Menden
         Germany


DUERR AG: Earns EUR7 Million for Financial Year 2006
----------------------------------------------------
Duerr AG released its preliminary results for financial year
2006.

Duerr AG posted EUR7 million in net income on EUR1.36 billion in
net revenues for 2006, compared with EUR4.3 million in net
profit on EUR1.4 billion in net sales for 2005.

Incoming orders developed very encouragingly and were above
target, with growth of 20% to EUR1.46 million.  The growth was
driven by increases in the systems business (paint and assembly
systems), especially in Eastern Europe and Asia, as well as a
good order situation in the mechanical engineering business
(painting robots, cleaning and balancing equipment).  The
services business, too, was expanded significantly through the
group-wide FOCUS program, and now contributes 26% of group
sales.

Following approval by the Supervisory Board, the full financial
statements for 2006 will be presented at the Annual Press
Conference in Stuttgart on March 29.

"As announced, 2006 was a year of transition," Ralf W. Dieter,
CEO of Duerr AG, commented.  "We achieved our clear objective of
a substantial increase in operating profit thanks to the
dedicated effort of the Duerr team.  The improvements through
the group program FOCUS have made themselves felt."

                           About Duerr

Headquartered in Stuttgart, Germany, Duerr AG --
http://www.durr.com/en-- supplies products, systems, and
services for automobile manufacturing.   Its range of products
and services covers important stages of vehicle production.   As
a systems supplier, Duerr plans and builds complete paint shops
and final assembly facilities.   It also delivers cleaning and
filtration systems for the manufacture of engine and
transmission components as well as balancing systems.

                        *     *     *

As of Feb. 20, Duerr AG carries these ratings:

Moody's:

   -- Long-term Corporate Family: B2
   -- Senior Subordinated Debt: Caa1
   -- Outlook: Negative

Standard & Poor's

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


H. VIESEL ESTRICH: Claims Registration Period Ends March 9
----------------------------------------------------------
Creditors of H. Viesel Estrich und Raumdesign GmbH have until
March 9 to register their claims with court-appointed insolvency
manager Thomas Kaiser.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on March 21, 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 Freiburg
         Hall 6
         Holzmarkt 2
         79098 Freiburg i.Br.
         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. Thomas Kaiser
         LG-Fach 37
         Wilhelmstr. 1b
         79098 Freiburg
         Germany
         Tel: 0761/703940
         Fax: 0761/7039410

The District Court of Freiburg opened bankruptcy proceedings
against H. Viesel Estrich und Raumdesign GmbH on Feb. 5.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         H. Viesel Estrich und Raumdesign GmbH
         Attn: Hansjoerg Viesel, Manager
         Stoeckacker 5
         79224 Umkirch
         Germany


HALO BAU: Claims Registration Ends March 12
-------------------------------------------
Creditors of Halo Bau Osterroenfeld GmbH have until March 12 to
register their claims with court-appointed insolvency manager
Wilhelm Salim Khan Durani.

Creditors and other interested parties are encouraged to attend
the meeting at 11:25 a.m. on March 21, 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 A220
         Amtsgerichtsgebaude
         Suedergraben 22
         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:

         Wilhelm Salim Khan Durani
         Wall 55
         24103 Kiel
         Germany

The District Court of Flensburg opened bankruptcy proceedings
against Halo Bau Osterroenfeld GmbH on Feb. 6.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Halo Bau Osterroenfeld GmbH
         Torsten Hansen
         Johannistaler Weg 36
         24837 Schleswig
         Germany


HUCKE AG: Claims Registration Period Ends April 11
--------------------------------------------------
Creditors of Hucke AG have until April 11 to register their
claims with court-appointed insolvency manager Hans-Peter
Burghardt.

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

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Hans-Peter Burghardt
         Bunsenstr. 3
         32052 Herford
         Germany

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

The Debtor can be reached at:

         Hucke AG
         Ravensberger Str. 41
         32312 Luebbecke
         Germany


IBF BAUTRAGER: Claims Registration Ends March 6
-----------------------------------------------
Creditors of IBF Bautrager GmBH have until March 6 to register
their claims with court-appointed insolvency manager
Gerhard Brinkmann.

Creditors and other interested parties are encouraged to attend
the meeting at 10:35 a.m. on April 4, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         District Court of Stralsund
         Hall A4 21
         Fourth Floor
         Building A
         Frankendamm 17
         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:

         Gerhard Brinkmann
         Freiligrathstr. 1
         18055 Rostock
         Germany

The District Court of Stralsund opened bankruptcy proceedings
against IBF Bautrager GmBH on Feb. 5.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         IBF Bautrager GmBH
         GF Bernd Meyer
         Koenigsmarkstr. 2a
         18435 Stralsund
         Germany


IRMLER METALLVERARBEITUNG: Claims Registration Ends March 5
-----------------------------------------------------------
Creditors of Irmler Metallverarbeitung GmbH have until March 5
to register their claims with court-appointed insolvency manager
Dr. Bruno M. Kuebler.

Creditors and other interested parties are encouraged to attend
the meeting at 1:45 p.m. on April 5, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Siegen
         Room 009
         Ground floor
         Berliner Str. 21-22
         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. Bruno M. Kuebler
         Aachener Str. 217
         50931 Cologne
         Germany
         Tel: 0221/400770
         Fax: 0221/4007720
         Web site: http://www.kuebler-gbr.de/

The District Court of Siegen opened bankruptcy proceedings
against Irmler Metallverarbeitung GmbH on Feb. 2.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Irmler Metallverarbeitung GmbH
         Gewerbegebiet 4
         57368 Lennestadt
         Germany


KCT LOGISTIK: Claims Registration Ends March 12
-----------------------------------------------
Creditors of KCT Logistik GmbH have until March 12 to register
their claims with court-appointed insolvency manager Tanja
Bueckmann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:35 a.m. on March 27, at which time the
insolvency manager will present her first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Essen
         Meeting Hall 291
         Second Floor
         Zweigertstr. 52
         45130 Essen
         Germany

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

The insolvency manager can be reached at:

         Tanja Bueckmann
         Lindnerstr. 165
         46149 Oberhausen
         Germany
         Tel: 0208 6205050

The District Court of Essen opened bankruptcy proceedings
against KCT Logistik GmbH on Feb. 6.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         KCT Logistik GmbH
         Attn: Gisela Krohmann, Manager
         Grimbergstr. 83
         45889 Gelsenkirchen
         Germany


MARX-GARAGEN GMBH: Claims Registration Ends March 19
----------------------------------------------------
Creditors of Marx-Garagen GmbH have until March 19 to register
their claims with court-appointed insolvency manager Axel W.
Bierbach.

Creditors and other interested parties are encouraged to attend
the meeting at 9:10 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 Munich
         Meeting Hall 102
         Infanteriestr. 5
         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:

         Axel W. Bierbach
         Schwanthaler Str. 32
         80336 Muenchen
         Germany

The District Court of Munich opened bankruptcy proceedings
against Marx-Garagen GmbH on Feb. 5.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Marx-Garagen GmbH
         Attn: Stefan Marx, Manager
         Breitenau 7a
         85232 Bergkirchen
         Germany


PROVIDE BRICKS: S&P Assigns BB Rating to EUR6-Mln Class D Notes
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary
credit ratings to the EUR144.05 million floating-rate credit-
linked notes to be issued by Provide Bricks Mortgages Plc.

Provide Bricks 2007-1 is the second RMBS transaction rated by
Standard & Poor's to feature a pool of residential mortgages
originated in Denmark.  After Provide Bricks 2005-1, this
transaction is the first from the Provide Bricks Mortgages
program that has been set up to transfer credit risk on
reference loans originated by Danske Bank A/S through its
subsidiary, Realkredit Danmark A/S.

The transaction is structured as a synthetic, partially funded
RMBS.

The collateral backing the notes will be certificates of
indebtedness issued by KfW.  The ratings on the notes are
dependent on the credit quality of KfW.  Potential changes to
the rating on KfW during the life of this transaction could,
therefore, have a direct effect on the ratings on the notes.

This type of synthetic RMBS transaction has already become the
standard for RMBS programs in Germany.  KfW set up the Provide
program to create a standardized platform for use by German
mortgage lenders to facilitate the efficient transfer of credit-
risk exposure on residential mortgage loans to the capital
markets. A key feature of the Provide program is that KfW issues
credit-linked certificates of indebtedness, which are purchased
by the issuer and pledged as collateral for the notes.

                          Ratings List

                   Provide Bricks Mortgages Plc
         EUR144.05 Million Floating-Rate Credit-Linked Notes

            Class          Prelim.        Prelim.
                           rating         amount (Mln. EUR)

            A+             AAA             0.05
            A              AAA            36.00
            B              A              88.00
            C              BBB            14.00
            D              BB              6.00


PORTAL BAUGESELLSCHAFT: Claims Registration Ends May 18
-------------------------------------------------------
Creditors of Portal Baugesellschaft mbH have until May 18 to
register their claims with court-appointed insolvency manager
Hildegard A. Hoevel.

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

The meeting of creditors will be held at:

         The District Court of 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 reached at:

         Hildegard A. Hoevel
         Raimundstr. 98 D
         60320 Frankfurt/Main
         Germany
         Tel: 069/9454846-0
         Fax: 069/945484677

The District Court of Frankfurt (Main) opened bankruptcy
proceedings against Portal Baugesellschaft mbH on Feb. 2.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Portal Baugesellschaft mbH
         Attn: Smiljan Popovic and Veljko Radujko, Managers
         Mainzer Landstr. 92
         60327 Frankfurt (Main)
         Germany


ROLOG GMBH: Claims Registration Ends April 26
---------------------------------------------
Creditors of ROLOG GmbH have until April 26 to register their
claims with court-appointed insolvency manager Christian
Koehler-Ma.

Creditors and other interested parties are encouraged to attend
the meeting at 11:40 a.m. on June 21, 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 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 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 Koehler-Ma
         Kurfuerstendamm 212
         10719 Berlin
         Germany

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

The Debtor can be reached at:

         ROLOG GmbH
         Konrad-Wolf-Str. 45
         13055 Berlin
         Germany


RP BAU: Claims Registration Ends March 12
-----------------------------------------
Creditors of RP Bau und Baumanagement GmbH have until March 12
to register their claims with court-appointed insolvency manager
Dr. Ruediger Werres.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 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 Cologne
         Meeting Hall 142
         First Floor
         Luxemburger Strasse 101
         50939 Cologne
         Germany

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

The insolvency manager can be reached at:

         Dr. Ruediger Werres
         Friesenplatz 17 a
         50672 Cologne
         Germany
         Tel: 0221/95 14 46 - 20
         Fax: +4922195144690

The District Court of Cologne opened bankruptcy proceedings
against RP Bau und Baumanagement GmbH on Feb. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         RP Bau und Baumanagement GmbH
         Attn: Matthias Palapys, Manager
         Widdersdorfer Str. 415
         50933 Cologne
         Germany


SACHSER POLSTERMOEBEL: Creditors Must File Claims by March 12
-------------------------------------------------------------
Creditors of Sachser Polstermoebel GmbH have until March 12 to
register their claims with court-appointed insolvency manager
Georg Welslau.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on April 2, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Georg Welslau
         Bismarckstr. 43
         32427 Minden
         Germany

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

The Debtor can be reached at:

         Sachser Polstermoebel GmbH
         Attn: Rita Sachser, Manager
         Arminstr. 8
         32457 Porta Westfalica
         Germany


SADIA SA: Moody's Affirms Ba2 Currency Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service affirmed Sadia's Ba2 global local
currency corporate family rating, and changed the outlook to
positive from stable.

The change in outlook was prompted by the continued positive
fundamentals for Brazilian poultry producers and Sadia's
continued progress in its strategy to move its product portfolio
into higher value-added products, which should lead to continued
margin expansion.

"Sadia's Ba2 global local currency corporate family rating
continues to reflect Sadia's strong brand portfolio and solid
market position in most of the diverse product categories in
which it participates, its highly competitive cost-structure,
its conservative financial policies, and worldwide geographic
sales diversity," says Moody's analyst Soummo Mukherjee.  "These
positive factors balance against its exposure to earnings
volatility due to commodity price movements, the risk of export
markets being closed to its products, and the fact that free
cash flow will be negative for the next few years because of its
high expansion capital expenditures program."

Sadia remains exposed to the event risk of there being an
outbreak of the high pathogenic avian influenza virus in Brazil.
While the largest concentration of the disease is in certain
Asian countries, the disease is spreading in Europe as well.
Should an outbreak occur in Brazil, some trading partners could
prohibit the import of Brazilian poultry, with negative
repercussions for Brazilian poultry processors such as Sadia.

While an AI outbreak in Brazil could have a significant negative
impact on Sadia, the company has made the investments this past
year that would enable it to produce 100% of its poultry exports
in cooked form (the high-pathogenic avian influenza virus is
killed when cooked at temperatures above 70% Celsius) should the
bird-flu virus hit Brazil.  This could help replace a portion of
the fresh meat exports that could be lost under such
circumstances.  Additionally, Moody's notes that Sadia's
strategy to maintain a 50/50 mix of revenues derived from
exports and the domestic market in order to reduce the
dependency on the export revenues.

Sadia's ongoing investments in plant modernizations and
expansions, improved internal cost-control and technological
processes and new plants are expected to continue to lead to
productivity gains translating into a reduced cost base, despite
the expected increase in grain prices.  In terms of top-line
growth, Sadia is expected to benefit from its strategy to
improve its mix of higher value-added products, a continued
recovery of poultry demand leading to higher volumes and prices,
growth of the beef segment, and Brazil's overall continued
market share gain in the global poultry export markets due to
its competitive cost position.

Sadia's Ba2 global local currency rating could come under upward
pressure if the company continues to deliver on its strategy to
transition its product portfolio into higher value-added
products leading to an EBITDA margin of above 14%, while
maintaining three-year average total debt / EBITDA below three
times and three-year average EBITA to Interest above 3.5 times
on a sustainable basis (all incorporating Moody's standard
analytic adjustments).

Conversely, the outlook could stabilize if the company's
operating performance does not improve in 2007 compared to 2006
leading to EBITDA margin of less than 10% in 2007 or LTM Debt /
EBITDA to increase above four times.

Sadia, headquartered in Sao Paulo, Brazil, exports over 1,000
different products to more than 100 countries and is the largest
slaughterer and distributor of poultry and pork products, as
well as the leading refrigerated and frozen protein products
company in Brazil.  For the last twelve months ending in
December 2006, the company had net sales of BRL6.9 billion (ca.
US$3 billion) with around 45% of revenues derived from exports.


SEEKOM VERLAG: Creditors Must Register Claims by April 2
--------------------------------------------------------
Creditors of Seekom Verlag GmbH have until April 2 to register
their claims with court-appointed insolvency manager Wilhelm
Salim.

Creditors and other interested parties are encouraged to attend
the meeting at 11:01 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
         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:

         Wilhelm Salim
         Sell-Speicher Wall 55
         24103 Kiel
         Germany

The District Court of Flensburg opened bankruptcy proceedings
against Seekom Verlag GmbH on Feb. 5.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Seekom Verlag GmbH
         Attn: Uwe Kolb & Ruediger Breichler, Manager
         Bäckerbarg 6
         24799 Meggerdorf
         Germany


SNC SECURE: Creditors Must Register Claims by March 5
-----------------------------------------------------
Creditors of SNC Secure Networking Company AG have until March 5
to register their claims with court-appointed insolvency manager
Hans-W. Goetsch.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 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 Mainz
         Hall 174
         Building B
         Ernst-Ludwig Strasse 7
         55116 Mainz
         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:

         Hans-W. Goetsch
         Libellenweg 4
         55128 Mainz
         Germany
         Tel: 06131/3337960
         Fax: 06131/3337961

The District Court of Mainz opened bankruptcy proceedings
against SNC Secure Networking Company AG on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         SNC Secure Networking Company AG
         Attn: Robert Douglas Smith, Manager
         Mombacher Str. 2a
         55120 Mainz
         Germany


SUPERCOM GMBH: Creditors Must Register Claims by March 15
---------------------------------------------------------
Creditors of SuperCom GmbH Audiotex Systeme have until March 15
to register their claims with court-appointed insolvency manager
Michael Bremen.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 5, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Michael Bremen
         Sternstr. 58
         40479 Duesseldorf
         Germany

The District Court of Duesseldorf opened bankruptcy proceedings
against SuperCom GmbH Audiotex Systeme on Feb. 6.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         SuperCom GmbH Audiotex Systeme
         Schadowstr. 74
         40212 Duesseldorf
         Germany


TEXTIL-PARFUEMERIE-SUSSWAREN Proofs of Claims Due March 14
----------------------------------------------------------
Creditors of Textil-Parfuemerie-Susswaren TEXPASO GmbH have
until March 14 to register their claims with court-appointed
insolvency manager Tatjana Gotsch.

Creditors and other interested parties are encouraged to attend
the meeting at 19:15 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 Chemnitz
         Hall 28
         Fuerstenstrasse 21
         Chemnitz
         Germany

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

The insolvency manager can be reached at:

         Tatjana Gotsch
         Buettenstr. 4
         08058 Zwickau
         Germany
         Tel: (0375) 818920
         Fax: (0375) 8189214
         E-mail: widera@zwickau-net.de

The District Court of Chemnitz opened bankruptcy proceedings
against Textil-Parfuemerie-Susswaren TEXPASO GmbH on Feb. 5.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Textil-Parfuemerie-Susswaren TEXPASO GmbH
         Attn: Werner Markert, Manager
         Elsterstrasse 18
         08626 Adorf
         Germany


THALLER KUNSTSTOFFTECHNIK: Claims Registration Ends March 28
------------------------------------------------------------
Creditors of Thaller Kunststofftechnik GmbH have until March 28
to register their claims with court-appointed insolvency manager
Rainer U. Mueller.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 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 Augsburg
         Law Courts
         Meeting Room 162
         Alten Einlass 1
         86150 Augsburg
         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:

         Rainer U. Mueller
         Schiessstattenstr. 15,
         86159 Augsburg
         Germany

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

The Debtor can be reached at:

         Thaller Kunststofftechnik GmbH
         Attn: Thaller, Hildegard, Manager
         Sandfeldstr. 10
         86477 Adelsried
         Germany


THOMAS BANZHAF: Claims Registration Ends March 23
-------------------------------------------------
Creditors of Thomas Banzhaf GmbH have until March 23 to register
their claims with court-appointed insolvency manager Petra
Fuchs.

Creditors and other interested parties are encouraged to attend
the meeting at 11:50 a.m. on April 10, at which time the
insolvency manager will present her first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Hanau
         Area E03
         Engelhardstrasse 21
         63450 Hanau
         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:

         Petra Fuchs
         Schafergasse 17
         D 60313 Frankfurt
         Germany
         Tel: 069/138107-0
         Fax: 069/138107-10

The District Court of Hanau opened bankruptcy proceedings
against Thomas Banzhaf GmbH on Feb. 2.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Thomas Banzhaf GmbH
         Attn: Thomas Rolf Banzhaf, Manager
         Donaustr. 20
         63452 Hanau
         Germany


TOURISTIK-MEDIEN GMBH: Claims Registration Ends April 26
--------------------------------------------------------
Creditors of Touristik-Medien GmbH have until April 26 to
register their claims with court-appointed insolvency manager
Yvo Dengs.

Creditors and other interested parties are encouraged to attend
the meeting at 9:35 a.m. on June 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 Neumuenster
         Meeting Hall B.031
         Law Courts
         Boostedter Strasse 26
         Neumuenster
         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:

         Yvo Dengs
         Am Sandtorkai 62
         20457 Hamburg
         Germany

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

The Debtor can be reached at:

         Touristik-Medien GmbH
         Attn: Ursula Dreves, Manager
         Hollerstrasse 137
         24782 Buedelsdorf
         Germany


VERCALLPRO-SCHWERIN: Claims Registration Ends March 12
------------------------------------------------------
Creditors of VerCallPro-Schwerin GmbH i.G have until March 12 to
register their claims with court-appointed insolvency manager
Stefan Denkhaus.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 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 Schwerin
         Hall 7
         Demmlerplatz 14
         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:

         Stefan Denkhaus
         Jungfernstieg 30
         20354 Hamburg
         Germany

The District Court of Schwerin opened bankruptcy proceedings
against VerCallPro-Schwerin GmbH i.G on Jan. 31.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         VerCallPro-Schwerin GmbH i.G
         Carlshoehe 16b
         19055 Schwerin
         Germany


VERWALTUNGSGESELLSCHAFT: Claims Registration Ends May 1
-------------------------------------------------------
Creditors of Verwaltungsgesellschaft mbH have until May 1 to
register their claims with court-appointed insolvency manager
Christoph Schulte-Kaubruegger.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on March 30, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of 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 9:10 a.m. on July 6, at the same venue.

The insolvency manager can be reached at:

         Dr. Christoph Schulte-Kaubruegger
         Genthiner Str. 48
         10785 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Verwaltungsgesellschaft mbH on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Verwaltungsgesellschaft mbH
         Holzhauser Str. 16/18
         13509 Berlin
         Germany


WLV GMBH: Claims Registration Period Ends March 12
--------------------------------------------------
Creditors of WLV GmbH have until March 12 to register their
claims with court-appointed insolvency manager Georg Kreplin.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on March 28, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Georg Kreplin
         Breite Strasse 27
         40213 Dusseldorf
         Germany

The District Court of Duesseldorf opened bankruptcy proceedings
against WLV GmbH on Feb. 6.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         WLV GmbH
         Schulstr. 142
         41541 Dormagen
         Germany

         Attn: Kay-Uwe Witte, Manager
         David Stempelstr. 6
         60594 Frankfurt/M
         Germany


WM-SERVICE MASZKE: Claims Registration Period Ends March 26
-----------------------------------------------------------
Creditors of WM-Service Maszke & Struck GmbH have until March 26
to register their claims with court-appointed insolvency manager
Jorn Weitzmann.

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 Hamburg
         Hall B 405
         Fourth Floor
         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 reached at:

         Jorn Weitzmann
         Arnold-Heise-Strasse 9
         20249 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against WM-Service Maszke & Struck GmbH on Feb. 5.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         WM-Service Maszke & Struck GmbH
         Wandsbeker Chaussee 259
         2089 Hamburg
         Germany


WOHNBAUTEN IN TEGEL: Claims Registration Period Ends April 30
-------------------------------------------------------------
Creditors of Wohnbauten in Tegel GmbH have until April 30 to
register their claims with court-appointed insolvency manager
Dr. Christoph Schulte-Kaubruegger.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on June 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 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 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. Christoph Schulte-Kaubruegger
         Genthiner Str. 48
         10785 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Wohnbauten in Tegel GmbH on Feb. 5.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Wohnbauten in Tegel GmbH
         Holzhauser Strasse 16/18
         13509 Berlin
         Germany


WOHNENS GMBH: Claims Registration Period Ends March 29
------------------------------------------------------
Creditors of Wohnens GmbH have until March 29 to register their
claims with court-appointed insolvency manager Dr. Mark Zeuner.

Creditors and other interested parties are encouraged to attend
the meeting on April 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 Norderstedt
         Hall B
         Rathausallee 80
         22846 Norderstedt
         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. Mark Zeuner
         Lehmweg 17
         20251 Hamburg
         Germany

The District Court of Norderstedt opened bankruptcy proceedings
against Wohnens GmbH on Feb. 6.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Wohnens GmbH
         Am Ploener Eck 1
         23795 Klein Roennau
         Germany

         Attn: Herrn Holger Lorenz, Manager
         Waldweg 37
         24211 Preetz
         Germany


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


PARMALAT SPA: Milan Prosecutors Want Trial for Five Banks
---------------------------------------------------------
Three Milan prosecutors have asked a judge in Italy to commence
trial against five banks and 13 individuals on market rigging
charges related to the collapse of Parmalat S.p.A., Sabrina
Cohen writes for the Wall Street Journal.

WSJ relays, citing a judicial source, those facing trial are:

   -- Citigroup Inc.,
   -- UBS AG,
   -- Morgan Stanley,
   -- Deutsche Bank AG,
   -- Nextra, and
   -- 13 individuals related to the banks.

The prosecutors told the judge that Parmalat's case "is not just
a trial regarding the bankruptcy of a company but also about the
abuse of corporate bonds."

The prosecutors added that though Parmalat has EUR4.5 billion in
market capital, it failed to repay a EUR150-million bond,
alleging that the banks released false information regarding the
bonds and were acting in concert with Parmalat's former
management, WSJ relays.

Public prosecutors are pursuing a number of local and foreign
banks for alleged corruption that caused Parmalat's EUR14
billion collapse in December 2003.

A Citigroup spokeswoman told WSJ that the bank "is itself a
victim of the Parmalat fraud and we look forward to responding
to these baseless allegations."

                         About Parmalat

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

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

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

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

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

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


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


ALTYN BULAK-SERVICE: Creditors Must File Claims by March 30
-----------------------------------------------------------
LLP Altyn Bulak-Service has declared insolvency.  Creditors have
until March 30 to submit written proofs of claim to:

         LLP Altyn Bulak-Service
         Jambyl Str. 1a
         Koksai
         Karasaisky District
         Almaty
         Germany


DARHAN LLP: Creditors' Claims Due March 23
------------------------------------------
The Specialized Inter-Regional Economic Court of Kyzylorda has
declared LLP Darhan 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


KAISTROYSERVICE LLP: Court Starts Bankruptcy Proceedings
--------------------------------------------------------
The Specialized Inter-Regional Economic Court of Astana has
started bankruptcy proceeding against LLP Construction Company
Kaistroyservice on Jan. 29.


KAZSTROYSERVICEPLUS LLP: Claims Registration Ends March 30
----------------------------------------------------------
LLP Construction Company Kazstroyserviceplus has declared
insolvency.  Creditors have until March 30 to submit written
proofs of claim to:

         LLP Construction Company Kazstroyserviceplus
         Kalinin Str. 72
         Taranovskoye
         Taranovsky District
         Kostanai
         Kazakhstan


KIRPISH ZAUYTY: Claims Filing Period Ends March 30
--------------------------------------------------
The Specialized Inter-Regional Economic Court of Atyrau has
declared LLP Kirpish Zauyty insolvent.

Creditors have until March 30 to submit written proofs of claim
to:

         The Specialized Inter-Regional Economic Court of Atyrau
         Third Floor
         Abai Str. 10a
         Atyrau
         Atyrau
         Kazakhstan


KURMANGAZY LLP: Creditors Must File Claims by March 30
------------------------------------------------------
LLP Kurmangazy Transport Service (RNN 150300210529) has declared
insolvency.

Creditors have until March 30 to submit written proofs of claim
to:

         LLP Kurmangazy Transport Service (RNN 150300210529)
         Ganushkino
         Kurmangazinsky District
         Atyrau region


MANAM-M LLP: Creditors' Claims Due March 23
-------------------------------------------
The Specialized Inter-Regional Economic Court of Aktube has
declared LLP Manam-M 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


MODERN SERVICE: Proof of Claim Deadline Slated for March 30
-----------------------------------------------------------
LLP Modern Service has declared insolvency.  Creditors have
until March 30 to submit written proofs of claim to:

         LLP Modern Service
         Ospanov Str. 52-91
         Aktube
         Kazakhstan


SYRDARYA-AMANGELDY: Claims Registration Ends March 23
-----------------------------------------------------
The Specialized Inter-Regional Economic Court of Kyzylorda has
declared LLP Syrdarya-Amangeldy 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


TRANS MISSION: Claims Filing Period Ends March 30
-------------------------------------------------
LLP Trans Mission has declared insolvency.  Creditors have until
March 30 to submit written proofs of claim to:

         LLP Trans Mission
         Micro District 28
         Aktau
         Mangistau
         Kazakhstan
         Tel/Fax: 8 (3292) 41-13-41


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


GLOBALINK B.V.: Claims Filing Period Ends March 30
--------------------------------------------------
The Representation of CJSC Globalink B.V. has declared
insolvency.  Creditors have until March 30 to submit written
proofs of claim to:

         Aitmatov Str. 53-47
         Bishkek, Kyrgyzstan


VESTA-TOKMOK LLC: Public Auction Scheduled for March 5
------------------------------------------------------
The bidding organizer and insolvency manager of the LLC Vesta-
Tokmok will auction the company's knitting equipment complex to
the public at 10:00 a.m. on March 5 at:

         Ovcharova Str. 39-a
         Tokmok
         Chui Region
         Kyrgyzstan

The starting price for the property is EUR208,690, which was
reduced by 85%.

The property is leased to a third person until 2014.

Interested bidders have until 2:00 p.m. on March to deposit an
amount equivalent to 10% of the starting price to:

         Settlement Account No. 1020002000271781
         MFO 101002
         OJSC Kyrgyzpromstroibank
         Leninsky Department
         Russia

or to the cashier of the LLC Vesta-Tokmok.

Participants may submit their bids at:

         Lineinaya Str. 67-58
         Bishkek, Kyrgyzstan
         Tel: (0-502) 55-11-97
              (+996 312) 62-42-04


===============
P O R T U G A L
===============


ARROW ELECTRONICS: Names John McMahon as Human Resources Sr. VP
---------------------------------------------------------------
Arrow Electronics, Inc. has appointed John P. McMahon as senior
vice president, Corporate Human Resources, effective March 12.

Mr. McMahon will have responsibility for Arrow's global human
resources function, including compensation, benefits, talent
management, professional development and human resources policy
for the company's nearly 12,000 employees worldwide.  He will be
a member of the company's Executive Committee, and report to
William E. Mitchell, Arrow chairman, president and chief
executive officer.

"We are delighted to welcome such a seasoned professional to
Arrow," Mr. Mitchell said.  "With 25 years of experience in
human resources, John will be instrumental in formulating and
implementing effective human resources policies and programs in
support of our employees and businesses worldwide.  John will
create a framework that supports Arrow's short- and long-term
growth and business strategy, which includes driving shared
leadership to the next level of success."

Prior to joining Arrow, Mr. McMahon served as senior vice
president and chief human resource officer at UMass Memorial
Health Care System, the largest health care system in Central
and Western Massachusetts.  He held the position of senior vice
president, Global Human Resources, at Fisher Scientific, a
division of Thermo Fisher Scientific that provides laboratory
equipment, chemicals, supplies and services, and at Terra Lycos,
S.A., a provider of telecommunications and Internet services
worldwide.  Earlier in his career, Mr. McMahon held leadership
roles in human resources at companies that included ITT
Corporation, a world leader in engineering and manufacturing,
and Raytheon Corporation, an industry leader in defense and
aerospace systems.

Mr. McMahon holds a Master of Science degree in human resource
management from Upsala College and a Bachelor of Science degree
from Mercy College.

                     About Arrow Electronics

Headquartered in Melville, New York, Arrow Electronics --
http://www.arrow.com/-- provides products, services and
solutions to industrial and commercial users of electronic
components and computer products.   Arrow serves as a supply
channel partner for nearly 600 suppliers and more than 130,000
original equipment manufacturers, contract manufacturers and
commercial customers through a global network of over 270
locations in 53 countries and territories.

In Europe, the company operates in France, Spain, Portugal,
Denmark, Estonia, Finland, Great Britain, Ireland, Latvia,
Lithuania, Norway, Sweden, Italy, Germany, Austria, Switzerland,
Belgium, the Netherlands and the U.K.

                          *     *     *

Arrow Electronics carries Fitch's 'BB+' issuer default rating.
The Company's senior unsecured notes and senior unsecured bank
credit facility also carry Fitch's 'BB+' rating.   The rating
outlook is positive.


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


BIRCH OJSC: Asset Sale Slated for February 26
---------------------------------------------
The Insolvency Manager for OJSC Birch, will open a public
auction for the company's properties at noon on Feb. 26 at:

         OJSC Birch
         Second Floor
         P. Vinogradova Str. 5
         I-Podomskoye
         Vilegodskiy
         Arkhangelsk
         Russia

Interested participants have until Feb. 25 to transfer deposit
and bidding documents must be submitted to:

         Insolvency Manager
         Second floor
         P. Vinogradova Str. 5
         I-Podomskoye
         Vilegodskiy
         Arkhangelsk
         Russia

The Debtor can be reached at:

         OJSC Birch
         Second Floor
         P. Vinogradova Str. 5
         I-Podomskoye
         Vilegodskiy
         Arkhangelsk
         Russia


BOGORODSK-OIL-PRODUCT: Creditors Must File Claims by March 3
------------------------------------------------------------
Creditors of CJSC Bogorodsk-Oil-Product have until March 3 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. A41-K2-18194/06.

The Court is located at:

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

The Debtor can be reached at:

         CJSC Bogorodsk-Oil-Product
         im.Vorovskogo
         Noginskiy
         Moscow
         Russia


NEVO-WOOD CJSC: Creditors Must File Claims by February 27
---------------------------------------------------------
Creditors of CJSC Nevo-Wood have until Feb. 27 to submit written
proofs of claim to:

         N. Popov, Insolvency Manager
         Post User Box 366
         OPS-100
         170100 Tver
         Russia

The Arbitration Court of St. Petersburg and Leningrad commenced
bankruptcy proceedings against the company after finding it
insolvent.  The case is docketed under Case No. A56-32435/2006.

The Court is located at:

         The Arbitration Court of St. Petersburg and the
         Leningrad
         Hall 113
         Suvorovskiy Pr. 50/52
         St. Petersburg
         Russia

The Debtor can be reached at:

         CJSC Nevo-Wood
         Tosina Str. 91
         St. Petersburg
         Russia


NORTH WOOD: Creditors Must File Claims by February 27
-----------------------------------------------------
Creditors of LLC North Wood have until Feb. 27 to submit written
proofs of claim to:


         N. Popov, Insolvency Manager
         Post User Box 366
         OPS-100
         170100 Tver
         Russia

The Arbitration Court of St. Petersburg and Leningrad commenced
bankruptcy proceedings against the company after finding it
insolvent.  The case is docketed under Case No A56-35497/2006.

The Court is located at:

         The Arbitration Court of St. Petersburg and the
         Leningrad
         Hall 113
         Suvorovskiy Pr. 50/52
         St. Petersburg
         Russia

The Debtor can be reached at:

         LLC North Wood
         Room 3
         Moskovskiy Pr. 107
         St. Petersburg
         Russia


NOVORZHEV-AGRO-PROM-KHIMIYA: Claims Filing Period Ends Feb. 27
--------------------------------------------------------------
Creditors of OJSC Novorzhev-Agro-Prom-Khimiya (TIN 6010000730)
have until Feb. 27 to submit written proofs of claim to:

         V. Gulyaev, Insolvency Manager
         Post User Box 208
         173025 Velikiy Novgorod
         Russia

The Arbitration Court of Pskov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A52-3795/2006/4.

The Court is located at:

         The Arbitration Court of Pskov
         Nekrasova Str. 23
         Pskov
         Russia

The Debtor can be reached at:

         OJSC Novorzhev-Agro-Prom-Khimiya
         Germana Str. 1a
         Novorzhev
         Pskov
         Russia


PETERBURGSKAYA BUILDING: Creditors Must File Claims by Feb. 27
--------------------------------------------------------------
Creditors of CJSC Peterburgskaya Building Company have until
Feb. 27 to submit written proofs of claim to:

         N. Popov, Insolvency Manager
         Post User Box 366
         OPS-100
         170100 Tver
         Russia

The Arbitration Court of St. Petersburg and Leningrad commenced
bankruptcy proceedings against the company after finding it
insolvent.  The case is docketed under Case No. A56-35428/2006.

The Court is located at:

         The Arbitration Court of St. Petersburg and Leningrad
         Hall 113
         Suvorovskiy Pr. 50/52
         St. Petersburg
         Russia

The Debtor can be reached at:

         CJSC Peterburgskaya Building Co.
         Letter B 1 N
         Srednegavganskiy Pr. 3
         St. Petersburg
         Russia


PETRO-OIL-SERVICE OJSC: Creditors Must File Claims by Feb. 27
-------------------------------------------------------------
Creditors of OJSC Petro-Oil-Service have until Feb. 27 to submit
written proofs of claim to:

         N. Popov, Insolvency Manager
         Post User Box 366
         OPS-100
         170100 Tver
         Russia

The Arbitration Court of St. Petersburg and Leningrad commenced
bankruptcy proceedings against the company after finding it
insolvent.  The case is docketed under Case No. A56-31003/2006.

The Court is located at:

         The Arbitration Court of St. Petersburg and the
         Leningrad
         Hall 113
         Suvorovskiy Pr. 50/52
         St. Petersburg
         Russia

The Debtor can be reached at:

         OJSC Petro-Oil-Service
         Kavalergardskaya Str. 6
         St. Petersburg
         Russia


PONOMAREVKA-TRANS OJSC: Creditors Must File Claims by March 3
-------------------------------------------------------------
Creditors of OJSC Ponomarevka-Trans have until March 3 to submit
written proofs of claim to:

         Y. Ustimova, Temporary Insolvency Manager
         Turkestanskaya Str. 10a
         460024 Orenburg
         Russia

The Arbitration Court of Orenburg commenced bankruptcy
supervision procedure on the company.  The hearing in the Court
will convene at 10:00 a.m. on April 10.  The case is docketed
under Case No. A47-12672/06-14GK.

The Court is located at:

         The Arbitration Court of Orenburg
         9th January Str. 64
         460046 Orenburg
         Russia

The Debtor can be reached at:

         OJSC Ponomarevka-Trans
         Gagarina Str. 103
         Ponomarevka
         Ponomarevskiy
         Orenburg
         Russia


PRECHISTENSKIY CHEESE: Bankruptcy Hearing Slated for March 13
-------------------------------------------------------------
The Arbitration Court of Yaroslavl will convene at 10:00 a.m. on
March 13 to hear the bankruptcy supervision procedure on OJSC
Prechistenskiy Cheese Making Plant.  The case is docketed under
Case No. A82-16470/06-43-B/558.

The Temporary Insolvency Manager is:

         S. Shulzhenko
         Post User Box 17
         127106 Moscow
         Russia

The Debtor can be reached at:

         OJSC Prechistenskiy Cheese Making Plant
         Zavodskaya Str. 8a
         Prechistoye
         Pervomayskiy
         152430 Yaroslavl
         Russia


ROS-INVEST CJSC: Creditors Must File Claims by March 3
------------------------------------------------------
Creditors of CJSC Ros-Invest have until March 3 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. A41-K2-22813/06.

The Court is located at:

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

The Debtor can be reached at:

         CJSC Ros-Invest
         Pobedy Str. 5
         Voskresensk, Moscow
         Russia


RUBY LLC: Creditors Must File Claims by February 27
---------------------------------------------------
Creditors of LLC Ruby have until Feb. 27 to submit written
proofs of claim to:

         N. Popov, Insolvency Manager
         Post User Box 366
         OPS-100
         170100 Tver
         Russia

The Arbitration Court of St. Petersburg and Leningrad commenced
bankruptcy proceedings against the company after finding it
insolvent.  The case is docketed under Case No. A56-26466/2006.

The Court is located at:

         The Arbitration Court of St. Petersburg and the
         Leningrad
         Hall 113
         Suvorovskiy Pr. 50/52
         St. Petersburg
         Russia

The Debtor can be reached at:

         LLC Ruby
         Premise 35N
         Furshtadskaya Str. 19
         St. Petersburg
         Russia


SEV-TORG-FURNITURE + LLV: Court Starts Bankruptcy Supervision
-------------------------------------------------------------
The Arbitration Court of Arkhangelsk commenced bankruptcy
supervision procedure on LLV Sev-Torg-Furniture +.
The case is docketed under Case No. A05-12848/2006-8.

The Temporary Insolvency Manager is:

         O. Savin
         Office 20
         Morskoy Pr. 50A
         Severodvinsk
         164523 Arkhangelsk
         Russia

The Court is located at:

         The Arbitration Court of Arkhangelsk
         Loginova Str. 17
         163069 Arkhangelsk
         Russia

The Debtor can be reached at:

         LLV Sev-Torg-Furniture +
         Office 237
         Tortseva Str. 16
         Severodvinsk
         164500 Arkhangelsk
         Russia


TECHNOLOGY CJSC: Creditors Must File Claims by February 27
----------------------------------------------------------
Creditors of CJSC Technology have until Feb. 27 to submit
written proofs of claim to:

         N. Popov, Insolvency Manager
         Post User Box 366
         OPS-100
         170100 Tver
         Russia

The Arbitration Court of St. Petersburg and Leningrad commenced
bankruptcy proceedings against the company after finding it
insolvent.  The case is docketed under Case No. A56-29726/2006.

The Court is located at:

         The Arbitration Court of St. Petersburg and the
         Leningrad
         Hall 113
         Suvorovskiy Pr. 50/52
         St. Petersburg
         Russia

The Debtor can be reached at:

         CJSC Technology
         Dobrolyubova Str. 14
         St. Petersburg
         Russia


WORLD CJSC: Creditors Must File Claims by February 27
-----------------------------------------------------
Creditors of CJSC Travel Agency World have until Feb. 27 to
submit written proofs of claim to:

         N. Popov, Insolvency Manager
         Post User Box 366
         OPS-100
         170100 Tver Region
         Russia

The Arbitration Court of St. Petersburg and Leningrad commenced
bankruptcy proceedings against the company after finding it
insolvent.  The case is docketed under Case No. A56-30938/2006.

The Court is located at:

         The Arbitration Court of St. Petersburg and the
         Leningrad
         Hall 113
         Suvorovskiy Pr. 50/52
         St. Petersburg
         Russia

The Debtor can be reached at:

         CJSC Travel Agency World
         R. Fontanki Quay 20
         St. Petersburg
         Russia


ZOLOTUKHINSKAYA SEL-KHOZ-KHIMIYA: Claims Deadline Set March 3
-------------------------------------------------------------
Creditors of OJSC Zolotukhinskaya Sel-Khoz-Khimiya have until
March 3 to submit written proofs of claim to:

         A. Shurov, Temporary Insolvency Manager
         Radiozavodskoye Shosse 2a
         Murom
         602264 Vladimir
         Russia

The Arbitration Court of Vladimir commenced bankruptcy
supervision procedure on the company.  The hearing in the Court
will convene at 2:00 p.m. on May 17.  The case is docketed under
Case No. A11-13858/2006-K1-472B/17B.

The Court is located at:

         The Arbitration Court of Vladimir
         Oktyabrskiy Pr. 14
         600025 Vladimir
         Russia

The Debtor can be reached at:

         OJSC Zolotukhinskaya Sel-Khoz-Khimiya
         Gagarina Str. 1a
         Sudogda
         601351 Vladimir
         Russia


=====================
S W I T Z E R L A N D
=====================


CADIFRA JSC: Creditors' Liquidation Claims Due March 5
------------------------------------------------------
Creditors of JSC CADIFRA have until March 5 to submit their
claims to:

         Adrian Buhlmann
         Liquidator
         Delfterstrasse 28
         5004 Aarau AG
         Switzerland

The Debtor can be reached at:

         JSC CADIFRA
         Aarau AG
         Switzerland


CIMA FASHION: Creditors' Liquidation Claims Due March 5
-------------------------------------------------------
Creditors of JSC Cima Fashion have until March 5 to submit their
claims to:

         Andres Schenker
         Liquidator
         JSC Tresag
         Gessnerallee 28
         8023 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Cima Fashion
         Amriswil
         Bischofszell TG
         Switzerland


CONNOR HANDEL: St. Gallen Court Starts Bankruptcy Proceedings
-------------------------------------------------------------
The Bankruptcy Court of St. Gallen commenced bankruptcy
proceedings against LLC Connor Handel & Gastro on Jan. 12.

The Debtor can be reached at:

         LLC Connor Handel & Gastro
         Haggenstrasse 9
         9014 St. Gallen
         Switzerland

The Bankruptcy Service of St. Gallen can be reached at:

         Bankruptcy Service of St. Gallen
         Stefan Klingl
         9001 St. Gallen
         Switzerland


CSC FINANCIAL: Creditors' Liquidation Claims Due February 26
------------------------------------------------------------
Creditors of JSC CSC Financial Services Schweiz have until
Feb. 26 to submit their claims to:

         Bill, Isenegger & Ackermann
         Liquidator
         Witikonerstrasse 61
         8023 Zurich
         Switzerland

The Debtor can be reached at:

         JSC CSC Financial Services Schweiz
         Zurich
         Switzerland


ELASIC JSC: Creditors' Liquidation Claims Due March 5
-----------------------------------------------------
Creditors of JSC Elasic have until March 5 to submit their
claims to:

         Bruno Anderes
         Liquidator
         Etzelmattstrasse 5
         5430 Wettingen
         Baden AG
         Switzerland

The Debtor can be reached at:

         JSC Elasic
         Wettingen
         Baden AG
         Switzerland


HOFLAGE JSC: Creditors' Liquidation Claims Due March 5
------------------------------------------------------
Creditors of JSC Hoflage have until March 5 to submit their
claims to:

         Laurito Frigerio
         Liquidator
         via Zurigo 5
         6900 Lugano TI
         Switzerland

The Debtor can be reached at:

         JSC Hoflage
         Zurich
         Switzerland


SCHURPACK JSC: Creditors' Liquidation Claims Due March 5
--------------------------------------------------------
Creditors of JSC Schurpack (Schweiz) have until March 5 to
submit their claims to:

         Hans Rudolf Brand
         Liquidator
         Eigerplatz 4
         Postfach 578
         3000 Bern
         Switzerland

The Debtor can be reached at:

         JSC Schurpack (Schweiz)
         Zug
         Switzerland


SI LA COTIERE: Creditors' Liquidation Claims Due March 5
--------------------------------------------------------
Creditors of JSC SI La Cotiere bleue have until March 5 to
submit their claims to:

         JSC Ansbacher
         Liquidator
         P.O. Box 2071
         Muhlebachstrasse 38
         8032 Zurich
         Switzerland

The Debtor can be reached at:

         JSC SI La Cotiere bleue
         Geneva
         Switzerland


SIMSA JSC: St. Gallen Court Closes Bankruptcy Proceedings
---------------------------------------------------------
The Bankruptcy Service of St. Gallen entered Jan. 23 an order
closing the bankruptcy proceedings of JSC Mediax Marketing
Verlag neue Medien.

The Debtor can be reached at:

         JSC Mediax Marketing Verlag neue Medien
         Schneebergstrasse 7
         9000 St. Gallen
         Switzerland

The Bankruptcy Service of St. Gallen can be reached at:

         Bankruptcy Service of St. Gallen
         Max Banziger
         9001 St. Gallen
         Switzerland


SKEN JSC: Creditors' Liquidation Claims Due March 8
---------------------------------------------------
Creditors of JSC Sken have until March 8 to submit their claims
to:

         Dr. Hauri Trust
         Liquidator
         Muhlemattstrasse 56
         5000 Aarau AG
         Switzerland

The Debtor can be reached at:

         JSC Sken
         Chur
         Plessur GR
         Switzerland


SWISSAIR: Prosecutor Says "Miserable Management" Led to Collapse
----------------------------------------------------------------
Christian Weber, the lead prosecutor in the Swissair criminal
trial against former executives, alleged that "miserable
management" was the main reason why the company went bankrupt in
2001, Bloomberg News reports.

"How could it happen that our Swissair, known as 'The Flying
Bank,' could go down with debt of more than 16 billion francs?"
Mr. Weber asked the court as the trial resumed, following a two-
week break.

"Something like this doesn't happen overnight," said Mr. Weber.
"Real crises come as a result of weak management," he added.

TCR-Europe reported on Jan. 18 that 19 of the company's top
executives, board members, and advisers faced charges on
criminal mismanagement and false accounting.

According to published reports, the executives on trial denied
any wrongdoing and instead blamed the collapse in air travel
following the Sept. 11, 2001 terrorist attacks.

TCR-Europe disclosed on Feb. 5 that Mario Corti, Swissair's last
chief executive officer prior to its collapse, testified in
court that a UBS AG-led plan "strangled" the company and led to
its demise, an allegation that the bank promptly denied.

Hanspeter Hirt, one of the prosecutors, explained that
Swissair's "hunter strategy," through which it bought stakes in
smaller carriers and airline-related businesses and built a
group to rival industry giants such as Lufthansa, led to the
2001 collapse, Bloomberg News relates.

Meanwhile, the office of Swissair Liquidator Karl Wuethrich
published a circular, dated Feb. 13, disclosing that it has
recognized claims by 4,921 Swissair creditors totaling CHF2.95
billion, Bloomberg News states.

According to the statement, decisions on the acceptance of
another CHF2.22 billion worth of claims have been suspended
pending court rulings, Bloomberg News reveals.

In addition, the liquidator said in the statement that Swissair
had about CHF424.3 million in disposable assets as of Dec. 31,
2006, Bloomberg News says.

Third-class creditors, holding majority of the claims, can only
expect about 9.4% of their claims, while the rest could recoup
up to 100%, the liquidator said in the statement.

Creditors are set to testify before the court in Buelach, as the
trial continues until March 9, Bloomberg News adds.

                         About Swissair

Swissair collapsed in October 2001 after accumulating CHF17
billion in debt in relation to significant investments in a
number of European airlines including Sabena, Air Liberte of
France, and Turkish Airlines.  It defaulted on the debt during
the slump that followed the Sept. 11, 2001 terrorist attacks in
the U.S.


=============
U K R A I N E
=============


ALCATEL-LUCENT: Inks Network Upgrade Deal with OJSC VimpelCom
-------------------------------------------------------------
OJSC Vimpel-Communications has selected Alcatel-Lucent to
upgrade and enhance the operator's wireless network with the
latest generation of Alcatel-Lucent's GSM/EDGE radio platform,
which is based on the industry most advanced hardware
architecture.

With its compact new design and high performance, this platform
will leverage VimpelCom's existing radio access network
investments while reducing operating expenses.

Following intensive and successful testing carried out jointly
with VimpelCom, the new platform is planned for commercial
deployment for the first time throughout Russia and the
Commonwealth of Independent States (CIS) on the operator's
existing network built on Alcatel-Lucent systems.

Alcatel-Lucent's 9130 Base Station Controller/Multi-BSC Fast
Packet Server (BSC/MFS) is a new BSS (Base Station Sub-System)
controllerplatform that supports the ever-increasing market-
driven volume of voice and data traffic.  This state-of-the art
equipment based on the field-proven Advanced Telecom Computing
Architecture (ATCA) will enable VimpelCom to create a more
centralised and optimized GSM/EDGE network architecture, thereby
bringing significant cost savings in network deployments and
extensions.

"Rapidly evolving market conditions combined with the ongoing
introduction of innovative subscriber services and applications
dictate the need for a high degree of flexibility and
scalability within network infrastructures," said Sergey Avdeev,
VimpelCom executive vice-president of business development in
the CIS and VimpelCom CTO.  "We are confident that with Alcatel-
Lucent's 9130 BSC/MFS we are geared for future network
evolutions, including full IP connectivity."

"This is the first commercial deployment of Alcatel-Lucent's
9130 BSC/MFS, and we are very proud of that and of being
selected once again by VimpelCom to provide the technology
needed to further develop its network," said Johan
Vanderplaetse, President of Alcatel-Lucent's activities in CIS.
"This further demonstrates Alcatel-Lucent's commitment in
delivering the most advanced GSM/EDGE solution for network
expansion.  As VimpelCom's network grows and evolves, the
requirement for more base station controllers will increase,
requiring state-of-the art equipment that can deliver the new
services and IP-based applications that VimpelCom's customers
will expect."

Mr. Vanderplaetse added that Alcatel-Lucent's solution will
prepare VimpelCom for a next-generation network architecture
that will ease the introduction of new advanced services while
decreasing operating expenses and optimizing the ability of
their network to accommodate growth.

Alcatel-Lucent has more than 170 GSM/EDGE customers in more than
90 countries, making it a leading provider of mobile
communications solutions. Alcatel-Lucent is boosting its
GSM/EDGE portfolio by introducing the field-proven ATCA-based
BSC Evolution associated with the powerful TWIN Transceiver
module

                       About VimpelCom

Headquartered in Moscow, Russia, OJSC Vimpel-Communications
(NYSE: VIP) -- http://www.vimpelcom.com/-- provides mobile
telecommunications services in Russia and Kazakhstan with newly
acquired operations in Ukraine, Tajikistan and Uzbekistan.  The
Company operates under the 'Beeline' brand in Russia and
Kazakhstan.  In addition, VimpelCom is continuing to use 'K-
mobile' and 'EXCESS' brands in Kazakhstan.  The group wholly
owns Mobitel in Georgia.

                    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's Long-Term Corporate Credit rating
and Senior Unsecured Debt carry Standard & Poor's BB- rating.
It's Short-Term Corporate Credit rating stands at B.

Moody's, on the other hand, put a Ba2 rating on Alcatel's
Corporate Family and Senior Debt rating.  Lucent carries Moody's
B1 Senior Debt rating and B2 Subordinated debt & trust preferred
rating.

Fitch rates Alcatel's Issuer Default Rating and Senior Unsecured
Debt rating at BB.


AUTOHAUS-IVANOV: Creditors Must Submit Claims by March 8
--------------------------------------------------------
Creditors of LLC Autohaus-Ivanov Ltd. (code EDRPOU 19234999)
have until March 8 to submit written proofs of claim to:

         Julia Kalabuha, Temporary Insolvency Manager
         I. Kulik Str. 21-a
         73000 Herson
         Ukraine

The Economic Court of Herson commenced bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
5/223-B-06.

The Court is located at:

         The Economic Court of Herson
         Gorkiy Str. 18
         73000 Herson
         Ukraine

The Debtor can be reached at:

         LLC Autohaus-Ivanov Ltd.
         Berislav Str. 2-b
         73000 Herson
         Ukraine


ETALON-AUTO-LUGANSK: Claims Submission Deadline Set March 8
-----------------------------------------------------------
Creditors of LLC Etalon-Auto-Lugansk (code EDRPOU 31595332) have
until March 8 to submit written proofs of claim to:

         Tatiana Boyko, Liquidator
         Serov Str. 134
         Stahanov
         94000 Lugansk
         Ukraine

The Economic Court of Lugansk commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 22/89b.

The Court is located at:

         The Economic Court of Lugansk
         Geroiv VVV Square 3a
         91000 Lugansk
         Ukraine

The Debtor can be reached at:

         LLC Etalon-Auto-Lugansk
         Gastello Str. 35-A
         91000 Lugansk
         Ukraine


NOVOSANZHARSK BREADRECEIVING: Proofs of Claim Due March 8
---------------------------------------------------------
Creditors of OJSC Novosanzharsk Breadreceiving Enterprise (code
EDRPOU 00955515) have until March 8 to submit written proofs of
claim to:

         Ruslan Borovik, Temporary Insolvency Manager
         Perspektivny Lane 10
         36007 Poltava
         Ukraine
         Tel: (0532) 61-44-62

The Economic Court of Poltava commenced bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
7/77.

The Court is located at:

         The Economic Court of Poltava
         Zigin Str. 1
         36000 Poltava
         Ukraine

The Debtor can be reached at:

         OJSC Novosanzharsk Breadreceiving Enterprise
         October Str. 2
         Rudenkovka
         Novosanzharsk District
         39323 Poltava
         Ukraine


PALENERGY LLC: Claims Submission Deadline Set March 8
-----------------------------------------------------
Creditors of LLC Palenergy (code EDRPOU 24931370) have until
March 8 to submit written proofs of claim to:

         Dmitry Luchenko, Liquidator
         Barabashov Str. 38
         61168 Kharkov
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 23/513-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 Palenergy
         Nauki Str. 20
         03039 Kiev
         Ukraine


UKRSOTSBANK: Fitch Puts B- Rating to US$400-Million Loan
--------------------------------------------------------
Fitch Ratings assigned Credit Suisse International's
US$400 million 8% issue of limited recourse loan participation
notes due 2010 final ratings of Recovery 'RR4' and Long-term
'B-'.  The Long-term rating of the notes is placed on Rating
Watch Positive.

The limited recourse notes are issued for the sole purpose of
financing a loan to Ukrsotsbank, which is rated Issuer Default
'B-', Short-term 'B', Individual 'D' and Support '5'.  Ukrsots's
Issuer Default and Support ratings are on RWP.

At end-2006, Ukrsots was the sixth-largest bank in Ukraine,
holding around 5.1% of system assets, and top five positions in
terms of market share in all major segments according to the
National Bank of Ukraine.  Retail business has been the largest
growth driver between 2004 and 2006, and at end-9M06 retail
loans and deposits accounted for 52% and 34% of the loan book
and funding base, respectively.  The retail customer base covers
over a million individual clients acquired through one of the
largest nationwide networks, comprising over 500 branches.
Ukrsots is currently indirectly owned by Viktor Pinchuk, who
also owns Interpipe Corp., one of the largest private companies
in Ukraine.


VIMPEL-COMMUNICATIONS: Taps Alcatel-Lucent to Upgrade Network
-------------------------------------------------------------
OJSC Vimpel-Communications has selected Alcatel-Lucent to
upgrade and enhance the operator's wireless network with the
latest generation of Alcatel-Lucent's GSM/EDGE radio platform,
which is based on the industry most advanced hardware
architecture.

With its compact new design and high performance, this platform
will leverage VimpelCom's existing radio access network
investments while reducing operating expenses.

Following intensive and successful testing carried out jointly
with VimpelCom, the new platform is planned for commercial
deployment for the first time throughout Russia and the
Commonwealth of Independent States (CIS) on the operator's
existing network built on Alcatel-Lucent systems.

Alcatel-Lucent's 9130 Base Station Controller/Multi-BSC Fast
Packet Server (BSC/MFS) is a new BSS (Base Station Sub-System)
controllerplatform that supports the ever-increasing market-
driven volume of voice and data traffic.  This state-of-the art
equipment based on the field-proven Advanced Telecom Computing
Architecture (ATCA) will enable VimpelCom to create a more
centralised and optimized GSM/EDGE network architecture, thereby
bringing significant cost savings in network deployments and
extensions.

"Rapidly evolving market conditions combined with the ongoing
introduction of innovative subscriber services and applications
dictate the need for a high degree of flexibility and
scalability within network infrastructures," said Sergey Avdeev,
VimpelCom executive vice-president of business development in
the CIS and VimpelCom CTO.  "We are confident that with Alcatel-
Lucent's 9130 BSC/MFS we are geared for future network
evolutions, including full IP connectivity."

"This is the first commercial deployment of Alcatel-Lucent's
9130 BSC/MFS, and we are very proud of that and of being
selected once again by VimpelCom to provide the technology
needed to further develop its network," said Johan
Vanderplaetse, President of Alcatel-Lucent's activities in CIS.
"This further demonstrates Alcatel-Lucent's commitment in
delivering the most advanced GSM/EDGE solution for network
expansion.  As VimpelCom's network grows and evolves, the
requirement for more base station controllers will increase,
requiring state-of-the art equipment that can deliver the new
services and IP-based applications that VimpelCom's customers
will expect."

Mr. Vanderplaetse added that Alcatel-Lucent's solution will
prepare VimpelCom for a next-generation network architecture
that will ease the introduction of new advanced services while
decreasing operating expenses and optimizing the ability of
their network to accommodate growth.

Alcatel-Lucent has more than 170 GSM/EDGE customers in more than
90 countries, making it a leading provider of mobile
communications solutions. Alcatel-Lucent is boosting its
GSM/EDGE portfolio by introducing the field-proven ATCA-based
BSC Evolution associated with the powerful TWIN Transceiver
module.

                      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.

                       About VimpelCom

Headquartered in Moscow, Russia, OJSC Vimpel-Communications
(NYSE: VIP) -- http://www.vimpelcom.com/-- provides mobile
telecommunications services in Russia and Kazakhstan with newly
acquired operations in Ukraine, Tajikistan and Uzbekistan.  The
Company operates under the 'Beeline' brand in Russia and
Kazakhstan.  In addition, VimpelCom is continuing to use 'K-
mobile' and 'EXCESS' brands in Kazakhstan.  The group wholly
owns Mobitel in Georgia.

                        *     *     *

As reported in the TCR-Europe on Oct. 12, 2006, Standard &
Poor's Ratings Services raised its long-term corporate credit
rating on Russia-based mobile telecommunications operator
Vimpel-Communications (JSC) to 'BB+' from 'BB', reflecting the
company's continuing strong performance.  S&P said the outlook
is stable.


VTP KORVET: Claims Submission Deadline Set March 8
--------------------------------------------------
Creditors of LLC VTP Korvet (code EDRPOU 30609087) have until
March 8 to submit written proofs of claim to:

         Alexander Polischuk, Liquidator
         Vorovsky Str. 5/1
         83045 Donetsk
         Ukraine

The Economic Court of Donetsk commenced bankruptcy proceedings
against the company on Jan. 16 after finding it insolvent.  The
case is docketed under Case No. 27/251B.

The Court is located at:

         The Economic Court of Donetsk
         Artema Str. 157
         83048 Donetsk
         Ukraine

The Debtor can be reached at:

         LLC VTP Korvet
         Adonisov Str. 77
         83042 Donetsk
         Ukraine


===========================
U N I T E D   K I N G D O M
===========================


ADVANCED MARKETING: Amends Wells Fargo DIP Loan Facility
--------------------------------------------------------
Advanced Marketing Services Inc. and its debtor-affiliates filed
with the Court on February 8 an amendment letter to the DIP Loan
Facility modifying certain terms and parts of the DIP Facility.

TCR-Europe reported on Jan. 11 that The Hon. Christopher S.
Sontchi of the U.S. Bankruptcy Court for the District of
Delaware authorized the debtors, on an interim basis, to dip
their hands into the DIP financing facility arranged by Wells
Fargo Foothill Inc. for a consortium of lenders.

The Senior Facility provides for a revolving line of credit up
to a maximum commitment level of US$90,000,000.

Among other things, the Debtors, Wells Fargo Foothill as agent
to the Debtors' DIP Lenders, and a consortium of lenders agree
to amend the definition of:

   (1) Qualified Transaction Timeline to mean the schedule of
       events by which the Qualified Transaction is to occur and
       be accomplished, specifically:

       (a) On or before 10 calendar days after the Petition
           Date, the Debtors will have filed in their bankruptcy
           Cases the Qualified Transaction Motion;

       (b) On or before 35 calendar days after the filing of the
           Qualified Transaction Motion, an order, in form and
           substance acceptable to Wells Fargo and each Lender,
           will be entered in the Debtors' bankruptcy cases
           approving the Qualified Transaction Procedures and
           also on or before 35 calendar days after the filing
           of the Qualified Transaction Motion, in the event the
           Qualified Transaction contemplates the sale or
           disposition of substantially all or a significant
           portion of the Debtors' assets, the Debtors will (i)
           designate a buyer as the "stalking horse" bidder for
           the purchase of the assets -- which will include an
           executed, definitive asset purchase agreement in form
           and substance acceptable to Wells Fargo and each
           Lender -- containing a minimum "stalking horse" bid,
           without contingencies other than approval of the bid
           or a higher and better bid by the Court; or (ii)
           schedule the other sale hearing or procedures as are
           acceptable to Wells Fargo and each Lender, on
           conditions approved by Wells Fargo and each Lender;

       (c) On or before 60 calendar days after the filing of the
           Qualified Transaction Motion, an order acceptable to
           Wells Fargo and each Lender will be entered in the
           Debtors' bankruptcy cases approving the Qualified
           Transaction Motion; and

       (d) On or before 75 calendar days after the filing of the
           Qualified Transaction Motion, Wells Fargo, for the
           benefit of the Lenders, will have received cash
           proceeds from the Qualified Transaction in an
           aggregate amount sufficient to indefeasibly pay all
           Obligations and all Senior Obligations in full;

   (2) Budget to mean the week-by-week Projections for the
       Debtors, delivered to Wells Fargo setting forth the
       Projected Information, in form and substance satisfactory
       to Wells Fargo; and

   (3) Maximum Revolver Amount to mean US$45,000,000, provided,
       however, that during the period commencing on the date of
       the entry of the Interim Financing Order through and
       including the date of entry of the Final Financing Order,
       the Maximum Revolver Amount will not exceed, as of the
       Friday of any week, the lesser of (i) US$45,000,000, or
       (ii) the amount set forth in the Budget as Loan
       Outstanding for that Friday.

A full-text copy of the amendment letter to the DIP Loan
Facility is available for free at:

   http://bankrupt.com/misc/advanced_DIPamendment.pdf

                    About Advanced Marketing

Based in San Diego, California, Advanced Marketing Services,
Inc. -- http://www.advmkt.com/-- provides customized
merchandising, wholesaling, distribution, and publishing
services, currently primarily to the book industry.  The company
has operations in the U.S., Mexico, the United Kingdom, and
Australia and employs approximately 1,200 people Worldwide.

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
When the Debtors filed for protection from their creditors, they
listed estimated assets and debts of more than 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: Creditors Object to Hiring of Houlihan Lokey
----------------------------------------------------------------
Advanced Marketing Services Inc. and its debtor-affiliates seek
the Court's authority to employ Houlihan Lokey Howard & Zukin
Capital, Inc., as their investment banker, nunc pro tunc to
Dec. 29, 2006.

The Official Committee of Unsecured Creditors, as well as Kelly
Beaudin Stapleton, the United States Trustee for Region 3,
objects to the Debtors' motion.

Mark D. Collins, Esq., at Richards, Layton & Finger, PA, in
Wilmington, Delaware, relates that Houlihan Lokey is one of the
leading advisors and investment bankers to troubled companies,
both inside and outside of bankruptcy.  The firm's Financial
Restructuring Group has advised more than 500 transactions,
valued in excess of US$200 billion, over the past 12 years.

The Debtors have chosen Houlihan Lokey to act as their
investment banker because the firm has substantial expertise in
advising them, and is well qualified to perform the services and
represent their interests in the Chapter 11 cases, Mr. Collins
explains.

As investment banker, Houlihan Lokey will:

   (a) evaluate the Debtors' strategic options based on
       Houlihan's initial review;

   (b) advise the Debtors generally as to available financing
       and capital restructuring alternatives, including
       recommendations of specific courses of action;

   (c) assist the Debtors with the development, negotiation and
       implementation of a restructuring plan, including
       participation as an advisor to the Debtors in
       negotiations with creditors and other parties involved in
       a restructuring;

   (d) assist the Debtors, if required, to draft an information
       memorandum to seek potential new capital, and to solicit,
       coordinate and evaluate indications of interest
       regarding a transaction;

   (e) assist the Debtors with the design of any debt and equity
       securities or other consideration to be issued in
       connection with a Transaction;

   (f) advise the Debtors as to potential mergers or
       acquisitions, and the sale or other disposition of any of
       the Debtors' assets or businesses;

   (g) assist the Debtors in communications and negotiations
       with its constituents; including, creditors, employees,
       vendors, shareholders, and other parties in interest in
       connection with any Transaction;

   (h) assist the Debtors in locating and negotiating debtor-in-
       possession financing with a new lender to replace the DIP
       financing with Wells Fargo Foothill, Inc., in effect
       as of the Effective Date of the Agreement; and

   (i) render other financial advisory and investment banking
       services as may be mutually agreed upon by Houlihan and
       the Debtors.

Houlihan Lokey will be paid a flat monthly fee of US$150,000 for
the first three months of the engagement, and US$100,000 per
month afterwards.

The Debtors will also pay the firm:

   (1) a Financing Fee upon the consummation of a DIP Financing
       Transaction on behalf of the Debtors equal to the greater
       of (i) US$750,000 and (ii) 1.25% of the aggregate
       principal amount of DIP Financing raised or committed;

   (2) a M&A Transaction Fee equal to a minimum of US$1.25
       million plus incremental increases; and

   (3) a US$1.25 million Restructuring Transaction Fee.

Houlihan Lokey will be reimbursed for all its reasonable out-of-
pocket expenses.

According to Mr. Collins, Houlihan Lokey's restructuring
expertise, as well as its capital markets knowledge, financing
skills, and mergers and acquisitions capabilities, some or all
of which may be required by the Debtors during the term of the
engagement, were important factors in the determination of the
amount of the firm's fees.

As its compensation will be calculated and paid based on certain
transaction fees, Houlihan Lokey will not be required to file
time records, Mr. Collins adds.  Rather, in its fee applications
filed with the Court, Houlihan Lokey would present descriptions
of those services provided on behalf of the Debtors and the
individuals who provided the professional services.

The Debtors would indemnify and hold Houlihan Lokey harmless
against liabilities arising out of or in connection with its
retention.

Christopher R. Di Mauro, managing director at Houlihan Lokey,
assures the Court that his firm is a "disinterested person" as
that term is defined in Section 101(14) of the Bankruptcy Code.

                           Objections

(a) Committee

The Official Committee of Unsecured Creditors says it is
inappropriate and unnecessary at this juncture for the Debtors
to retain Houlihan Lokey or any other investment banker.

Given the high fees Houlihan Lokey is seeking, there is no
benefit to the estates and creditors to retain them at this
time, Thomas F. Driscoll III, Esq., at Morris, Nichols, Arsht &
Tunnell LLP, in Wilmington, Delaware, tells Judge Sontchi.

Any beneficial services that Houlihan Lokey could realistically
provide at this point can be provided by the Debtors' other
professionals, Mr. Driscoll maintains.  It is also possible that
Jefferies & Company, Inc., the Debtors' prepetition investment
banker, will make a claim for compensation, he adds.

In the event the Court determines that the Debtors can retain
Houlihan Lokey, the Committee believes that the terms of its
retention must be modified so that:

   * the provision of the Engagement Letter providing for a
     Financing Fee is stricken since no refinancing will take
     place at this point in the Chapter 11 cases;

   * the M&A Transaction Fee, if allowed at all, will be reduced
     and modified so that any fee is directly tied to specific
     value added to the Debtors' estates by Houlihan Lokey's
     efforts; and

   * the provision for a Restructuring Transaction Fee is
     stricken as well.

Houlihan Lokey's compensation must be subject to review under
Section 330 of the Bankruptcy Code.  A greater portion of any
monthly fees awarded to Houlihan Lokey should be credited
against any M&A Transaction Fee Houlihan may become entitled to
in these cases, Mr. Driscoll asserts.

(b) U.S. Trustee

Kelly Beaudin Stapleton, the United States Trustee for Region 3,
reminds the Court that professional fees may not be awarded
unless and until the applicant shows that there is a benefit to
the estate.  The fees must be reasonable and necessary, she
adds.

Ms. Stapleton notes that Houlihan Lokey's monthly fee, if
allowed, should be subject to Section 330 standards, while the
various transaction and financing fees should be disallowed
under the "improvident" standard set forth in Section 328 and
subject to Section 330.

Ms. Stapleton asserts that Houlihan Lokey should:

   -- file applications in accordance with the Bankruptcy Code,
      Bankruptcy Rules, and the prescripts of any Administrative
      Order; and

   -- submit fee applications that set forth a description of
      the services performed by each of the firm's professional
      on an hourly basis, the total number of hours spent each
      month by the professionals, and a breakdown and
      delineation of monthly expenses.

Additionally, Ms. Stapleton says, Houlihan Lokey should provide
hourly rates for its professionals.

                    About Advanced Marketing

Based in San Diego, California, Advanced Marketing Services,
Inc. -- http://www.advmkt.com/-- provides customized
merchandising, wholesaling, distribution, and publishing
services, currently primarily to the book industry.  The company
has operations in the U.S., Mexico, the United Kingdom, and
Australia and employs approximately 1,200 people Worldwide.

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
When the Debtors filed for protection from their creditors, they
listed estimated assets and debts of more than 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: Inks LOI with Baker & Taylor on Asset Sale
--------------------------------------------------------------
Advanced Marketing Services Inc. entered into a letter of intent
with Baker & Taylor to sell the majority of its assets,
excluding Publishers Group West Inc.  The letter of intent is
subject to the negotiation of a definitive asset purchase
agreement and the United States Bankruptcy Court for the
District of Delaware's approval.

The asset purchase agreement will be subject to the requirements
of Section 363 of the Bankruptcy Code.  Once the asset purchase
agreement is finalized, the company will file a motion with the
Bankruptcy Court to request a bidding procedures hearing,
expected to be held on Feb. 16.  Following the completion of the
bidding process and an auction, if necessary, the company
anticipates a closing by March 15, as per the requirements of
the letter of intent.

"We are pleased to enter into this letter of intent with Baker &
Taylor and believe it marks a significant milestone in the
restructuring of our business," Gary Rautenstrauch, President
and CEO of AMS, said.  "Baker & Taylor is a recognized leader in
the book distribution industry and has the experience to
seamlessly assume operations and continue meeting the needs of
our customers."

"An agreement with AMS will represent an important strategic
addition to Baker & Taylor's business," Richard Willis,
Chairman, President and CEO of Baker & Taylor, stated.  "We are
excited about the opportunity to work with AMS to foster and
broaden the commitment to customer service and operational
excellence that AMS is known for."

                      About Baker & Taylor

Based in Charlotte, North Carolina, Baker & Taylor distributes
books, video and music products to public and academic
libraries.  Founded in 1828, the company also distributes books
and entertainment products to many of brick and mortar
retailers, Internet retailers, as well as thousands of
independent book, music and video stores.  It serves customers
in 125 countries around the world and has six distribution
facilities strategically located throughout the country.  Baker
& Taylor is a portfolio company of Castle Harlan Partners IV,
L.P.

                    About Advanced Marketing

Based in San Diego, California, Advanced Marketing Services,
Inc. -- http://www.advmkt.com/-- provides customized
merchandising, wholesaling, distribution, and publishing
services, currently primarily to the book industry.  The company
has operations in the U.S., Mexico, the United Kingdom, and
Australia and employs approximately 1,200 people Worldwide.

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
When the Debtors filed for protection from their creditors, they
listed estimated assets and debts of more than 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)


AEG AGENCIES: Taps William Paxton to Liquidate Assets
-----------------------------------------------------
William Paxton of Robson Laidler LLP was appointed liquidator of
AEG (Agencies) Ltd. on Jan. 31 for the creditors' voluntary
winding-up procedure.

Robson Laidler -- http://www.robson-laidler.co.uk/-- offers a
range of services including audit and accountancy, tax planning
and mitigation, business strategy, corporate finance, personal
financial planning, recovery and insolvency.

The company can be reached at:

         AEG (Agencies) Ltd.
         2 Monkseaton Drive
         Whitley Bay
         Tyne and Wear
         NE261SZ
         Tel: 0191 253 4121


ALTERNATIVE PVCU: Creditors Confirm Liquidators' Appointment
------------------------------------------------------------
Creditors of Alternative PVCU Ltd. confirmed on Feb. 1 the
appointment of Nigel Price and Mark Elijah Thomas Bowen of Moore
Stephens LLP as the company's joint liquidators.

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:

         Alternative PVCU Ltd.
         Unit 2a
         23 Forge Lane
         Minworth
         Sutton Coldfield
         West Midlands
         B76 1AH
         England
         Tel: 0121 313 0515


ARCADIA STOVES: Claims Filing Period Ends March 22
--------------------------------------------------
Creditors of Arcadia Stoves Ltd. have until March 22 to send
their names and addresses and particulars of their debts or
claims and the names and addresses of their solicitors (if any)
to:

         J. G. M. Sadler
         Joint Liquidator
         Elwell Watchorn & Saxton LLP
         109 Swan Street
         Sileby
         Leicestershire
         LE12 7NN
         England

Joseph Gordon Maurice Sadler and John Michael Munn of Elwell
Watchorn & Saxton LLP were appointed joint liquidators of the
company on Feb. 8.

The company can be reached at:

         Arcadia Stoves Ltd.
         Fitton Oake
         Fitton Road
         St. Germans
         Kings Lynn
         Norfolk
         PE343AU
         England
         Tel: 01553 617 222


BAA PLC: Heathrow Unit to Re-Develop Terminal 3
-----------------------------------------------
BAA Plc 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 multistorey 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 40-meter deep pedestrianised plaza with a large
      canopy in 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 approximately
      900 meters of additional circulation and check-in space;
      and

    * 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.," Tony
Douglas, CEO, BAA Heathrow said.  "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."

                         About BAA Plc

Headquartered in London, United Kingdom, BAA plc --
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


BENJYS LTD: Brings In KPMG LLP as Joint Administrators
------------------------------------------------------
James Douglas Ernle Money and Myles Antony Halley of KPMG LLP
were appointed Feb. 5, joint administrators of:

    -- Benjys Retail Ltd. (Company Number 05903240);
    -- Benjys Ltd. (Company Number 05657708);
    -- Benjys Manufacturing Ltd. (Company Number 05903415); and
    -- Benjys Delivered Ltd. (Company Number 05903243).

KPMG LLP -- http://www.kpmg.co.uk/-- offers accounting, audit,
and tax-related services to customers in such target industries
as banking, media and entertainment, consumer products, health
care providers, insurance, and pharmaceuticals.

Headquartered in London, England, Benjys is a sandwich chain
established in 1989.


BLUE CHIP: Moody's Lifts Ba1 Rating to Baa3 on EUR25-Mln Notes
--------------------------------------------------------------
Moody's Investors Service has taken these rating actions in
respect of notes issued by Blue Chip Funding 2001-1:

   -- Upgraded to Aa2 from Aa3, the EUR40-million Class A
      Floating Rate Notes due March 2007; and

   -- Upgraded to Baa3 from Ba1, the EUR25-million Class B
      Secured Floating Rate Notes due March 2007.

These upgrades are a result of the positive effects of time
decay on the reference portfolio.


BNP PARIBAS: Moody's Rates Bifrost Series 17 Notes at Ba1
---------------------------------------------------------
Moody's Investors Service has taken these rating actions in
respect of various classes related to the Bifrost Series 16 to
20 credit default swaps entered into by BNP Paribas, London
Branch:

   -- Upgraded to Aaa from Aa2, Series 16 Class 5B
      EUR115-million credit default swap due 2008;

   -- Upgraded to Aa3 from A2, Series 16 Class 5C EUR60-million
      credit default swap due 2008;

   -- Upgraded to A3 from Baa2, Series 16 Class 5D EUR50-million
      credit default swap due 2008;

   -- Upgraded to Aa1 from Aa2, Series 16 Class 7B
      EUR125-million credit default swap due 2010,

   -- Upgraded to A1 from A2, Series 16 Class 7C
      EUR67.5-million credit default swap due 2010,

   -- Downgraded to A3 from A2, Series 17 Class 7C
      EUR67.5-million credit default swap due 2010;

   -- Downgraded to Baa3 from Baa2, Series 17 Class 7D
      EUR50-million credit default swap due 2010;

   -- Downgraded to Aa3 from Aa2, Series 17 Class 10B
      EUR150-million credit default swap due 2013;

   -- Downgraded to Baa1 from A2, Series 17 Class 10C
      EUR80-million credit default swap due 2013;

   -- Downgraded to Ba1 from Baa2, Series 17 Class 10D
      EUR65-million credit default swap due 2013;

   -- Upgraded to Aaa from Aa2, Series 18 Class 5B
      EUR115-million credit default swap due 2008;

   -- Upgraded to Aa2 from A2, Series 18 Class 5C EUR60-million
      credit default swap due 2008,

   -- Upgraded to A3 from Baa2, Series 18 Class 5D EUR50-million
      credit default swap due 2008;

   -- Upgraded to Aa1 from Aa2, Series 18 Class 7B
      EUR115-million credit default swap due 2010;

   -- Upgraded to A1 from A2, Series 18 Class 7C EUR70-million
      credit default swap due 2010;

   -- Downgraded to Baa3 from Baa2, Series 19 Class 7D
      EUR62.5-million credit default swap due 2010;

   -- Downgraded to A3 from A2, Series 19 Class 10C
      EUR80-million credit default swap due 2013;

   -- Downgraded to Baa3 from Baa2, Series 19 Class 10D
      EUR65-million credit default swap due 2013;

   -- Upgraded to Aaa from Aa2, Series 20 Class 5B
      EUR115-million credit default swap due 2008;

   -- Upgraded to A1 from A2, Series 20 Class 5C EUR60-million
      credit default swap due 2008;

   -- Upgraded to Baa1 from Baa2, Series 20 Class 5D
      EUR50-million credit default swap due 2008;

   -- Downgraded to Baa3 from Baa2, Series 20 Class 7D
      EUR62.5-million credit default swap due 2010;

   -- Downgraded to A3 from A2, Series 20 Class 10C
      EUR80-million credit default swap due 2013; and

   -- Downgraded to Baa3 from Baa2, Series 20 Class 10D
      EUR65-million credit default swap due 2013.

These upgrades and downgrades are the result of a combination of
credit migration in the underlying pools and the reduced time to
maturity.


BNP PARIBAS: Moody's Puts Ba1 Rating to EUR50-Mln Class 5D Notes
----------------------------------------------------------------
Moody's Investors Service confirmed the ratings of eleven credit
default swaps entered into by BNP Paribas, London Branch.

   -- Series 11 EUR50-million Class 5D Credit Default Swap due
      2008, rated Baa2;

   -- Series 12 EUR50-million Class 5D Credit Default Swap due
      2008, rated Baa2;

   -- Series 12 EUR82.5-million  Class 7C Credit Default Swap
      due 2010, rated A2;

   -- Series 13 EUR75-million Class 5C Credit Default Swap due
      2008, rated A3;

   -- Series 13 EUR50-million Class 5D Credit Default Swap due
      2008, rated Ba1;

   -- Series 14 EUR105-million Class 10C Credit Default Swap due
      2013, rated A2;

   -- Series 18 EUR135-million Class 10B Credit Default Swap due
      2013, rated Aa2;

   -- Series 19 EUR60-million Class 5C Credit Default Swap due
      2008, rated A2;

   -- Series 19 EUR50-million Class 5D Credit Default Swap due
      2008, rated Baa2;

   -- Series 19 EUR75-million Class 7C Credit Default Swap due
      2010, rated A2; and

   -- Series 19 EUR135-million Class 10B Credit Default Swap due
      2013, rated Aa2.


CLUBFIRST LTD: Creditors' Meeting Slated for February 23
--------------------------------------------------------
Creditors of Clubfirst Ltd. will meet at noon on Feb. 23 at:

         Grosvenor Partners
         6-7 Ludgate Square
         London
         EC4M 7AS
         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. 21.


COLLINS & AIKMAN: Wants JCI Parties' Customer Agreement Approved
----------------------------------------------------------------
Collins & Aikman Corp. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Eastern District of Michigan to approve
their agreement with Johnson Controls Inc., Bridgewater
Interiors LLC, Intertec Systems LLC, and affiliates of Johnson
Controls, pursuant to Rule 9019(a) of the Federal Rules of
Bankruptcy Procedure.

Additionally, the Debtors seek to file under seal the exhibits -
- JCI Agreement and the Letter Agreements -- and any portions of
pleadings with respect to the JCI Agreement approval request
filed by any party that references the Exhibits, to prevent the
disclosure of confidential commercial information that could
substantially harm them, their estates and stakeholders, JCI,
and their Customers.

The Debtors successfully negotiated a comprehensive customer
agreement with their major customers, including DaimlerChrysler
Corp., Ford Motor Company, General Motors Corp., Auto Alliance
International Inc., and Honda of America Mfg. Inc.  The Court
approved the Customer Agreement on Jan. 11.

Section 21 of the Customer Agreement provides that the Debtors
will use their commercial best efforts to obtain agreements from
all customers whose production at a plastics and convertibles
plant is greater than 5% of the business, which are non-
participating customers to the Customer Agreement.

Specifically, Section 21 provides that the Debtor may not use
funding provided directly or indirectly by the Customers or
through the Customer accommodations to manufacture parts for
Non-Participating Customers who do not execute an agreement
containing specific accommodations.

The Debtors produce component parts for Non-Participating
Customers Johnson Controls, Inc.; Bridgewater Interiors, LLC;
Intertec Systems, LLC; and affiliates of Johnson Controls.

Consequently, the Debtors forwarded proposed letter agreements
that include the terms outlined in Section 21 and have reached a
comprehensive agreement with the JCI Parties.

The significant terms of the JCI Agreement include:

   (a) The JCI Parties agree to the terms contained in the
      letter agreements;

   (b) The JCI Parties to waive any damage claims against the
       Debtors arising from the JCI Agreement, including
       surcharges and waivers under the Letter Agreements.  The
       JCI Parties retain ordinary course set-offs and preserves
       their right as to the prepetition dispute between them
       and the Debtors;

   (c) The Debtors will continue to produce component parts for
       the JCI Parties through the dates provided in the JCI
       Agreement;

   (d) The Debtors will produce service parts requested by the
       JCI Parties subject to capacity and resource constraints
       and payment of all reasonable and verifiable direct and
       indirect service JCI part production costs;

   (e) The retroactive surcharge in the Letter Agreements for
       Nov. 26, 2006, through the end of business on Feb. 5,
       will be paid by the JCI Parties in full, one
       business day after the execution date of the JCI
       Agreement;

   (f) The parties will endeavor to establish ownership of the
       service tooling, dies, jigs, patterns and other device
       used in the production of Component Parts for JCI; and to
       reconcile ownership of the Tooling and remove all
       impediments to JCI taking possession of the Tooling on or
       before the dates specified in the JCI Agreement.

   (g) The Debtors confirm that the Tooling is exclusively used
       for production for the JCI Parties.  The Debtors have
       until Feb. 16 to notify the JCI Parties, in writing, of
       any prepetition or postpetition amounts owed for the
       Exclusive Use Tooling.  The JCI Parties will be deemed to
       owe nothing if the Debtors fail to timely send the
       notice.

       The JCI Parties will have 21 days to challenge the
       amounts in the notice.  If the response is not timely
       sent, the JCI Parties will be deemed to owe the stated
       amounts, which will be due and payable immediately,
       without set-off or counterclaim of any nature;

   (h) The Debtors will provide the JCI Parties access to their
       facilities and records needed to conduct an orderly move
       of the Exclusive Use Tooling, monitor the status of bank
       builds and monitor the Debtors' adherence to the JCI
       Agreement; and

   (i) The JCI Parties have the right the purchase the Debtors'
       interest in certain equipment unique to and only for the
       production of their Component Parts or Service Parts, for
       fair market value.

The JCI Agreement also provides for the Debtors to seek
modification of the automatic stay to allow the JCI Parties to
take possession of the Exclusive Use Tooling.

The JCI Agreement does not resolve the pending dispute between
the Debtors and the JCI Parties concerning claims that existed
before the Petition Date.

Headquartered in Troy, Michigan, Collins & Aikman Corporation
-- 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 approximately 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).


COMSEC LTD: I. D. Holland Leads Liquidation Procedure
-----------------------------------------------------
I. D. Holland of Ian Holland + Co. was appointed liquidator of
Comsec Ltd. on Feb. 7 for the creditors' voluntary winding-up
procedure.

The company can be reached at:

         Comsec Ltd.
         32 Bynon Hill
         Harrow on the Hill
         Middlesex
         HA1 0HY
         England
         Tel: 070 0266 7325
         Fax: 070 0266 7326


CONWY ENERGY: Creditors' Meeting Slated for February 28
-------------------------------------------------------
Creditors of Conwy Energy Agency Ltd. will meet at 11:30 a.m. on
Feb. 28 at the offices of:

         Parkin S. Booth & Co.
         24 Trinity Square
         Llandudno
         LL30 2RH
         Wales

Robert Martin Rutherford of Parkin S. Booth & Co. will furnish
creditors with information concerning the company's affairs free
of charge as they may reasonably require.

Parkin S. Booth & Co http://www.parkinsbooth.co.uk/-- deals
entirely with insolvency practice.


DUPLI PHOTO: Appoints T. Papanicola as Liquidator
-------------------------------------------------
T. Papanicola of Bond Partners LLP was appointed liquidator of
Dupli Photo Ltd. on Feb. 6 for the creditors' voluntary winding-
up proceeding.

Bond Partners LLP -- http://www.bondpartners.co.uk/--
specializes in: audit and assurance, taxation, corporate
recovery, business rescue and insolvency, bookkeeping services,
as well as financial services through Bond Financial Network.

The company can be reached at:

         Dupli Photo Ltd.
         14 Poland Street
         City of Westminster
         London
         W1F 8QD
         England
         Tel: 020 7437 4569
         Fax: 020 7734 5968


ESTERLINE TECH: Moody's Puts Low-B Ratings on Financial Risks
-------------------------------------------------------------
Moody's Investors Service confirmed Esterline Technology Corp.'s
Corporate Family Rating of Ba2, and has assigned a Ba3 rating to
the company's proposed senior unsecured notes due 2017.

These notes are being issued to partially fund the company's
acquisition of CMC Electronics Inc.  Also, Moody's has lowered
the ratings of Esterline's existing senior subordinated notes to
B1 from Ba3.  The ratings outlook is stable.  This concludes the
review commenced on Feb. 2, 2007.

The ratings consider the increased financial and operating risks
associated with Esterline's acquisition of CMC, but anticipate
that continued favorable operating results would enable the
company to restore its financial metrics during the near term.
Demand from the company's core business as a supplier to
aircraft OEM's remains strong, and with large order backlogs,
aircraft production should provide continued favorable business
trends for Esterline for the foreseeable future.  Ratings also
take into account the uncertainty as to the size, scope, and use
of debt to finance future acquisitions.

On Feb. 1, 2007, Esterline announced that it had entered into a
definitive agreement to purchase CMC from Onex Corp. for
approximately US$335 million in cash, to be financed primarily
through issuance of additional debt.  The company announced on
Feb. 16, 2007 that it intends to issue US$150-million of senior
notes due 2017 to be used to partially fund the acquisition.
The company intends to fund the balance of the acquisition with
bank debt.  Esterline's senior secured credit facilities are not
rated by Moody's.  The re-financing would result in
approximately a doubling of debt over FY (October) 2006 levels,
with a corresponding increase in leverage from about 2.6 times
Debt/EBITDA to an estimated pro forma 4.5 times.  Such leverage
is more typical in lower-rated entities.  However, Moody's
believes that near-term prospects for strong cash flow
generation will likely result in a moderation of leverage during
2007 to level that are more consistent with the Ba2 Corporate
Family Rating.

The stable rating outlook anticipates that Esterline will pursue
modestly sized acquisitions as part of its growth initiative
while successfully integrating the operations of CMC, and that
the company's existing businesses will demonstrate strong
performance with stable or improving margins.  The outlook
assumes that key customer demand levels will continue to be
strong through 2007, and that there are no material delays or
difficulties in delivery of important commercial aircraft
platforms, the Boeing 787 in particular.  The stable outlook
also assumes that, despite weak free cash generation experienced
in FY 2006, the company's free cash flow will return to
historical levels in FY 2007 as working capital requirements
moderate while operating earnings improve with growth.

The senior subordinated notes were downgraded to B1 from Ba3 due
to the increased amount of more senior debt obligations in the
company's capital structure resulting from the acquisition of
CMC.  Under Moody's Loss Given Default rating methodology, the
insertion of the new senior unsecured notes into the company's
capital structure increases the LGD assessment for the
subordinated notes to LGD5, 89%, and results in a downgrade to
B1.

These ratings/assessments have been confirmed:

   -- Corporate Family Rating of Ba2; and
   -- Probability of Default Rating of Ba2.

This rating has been assigned:

   -- Senior unsecured notes due 2017 at Ba3 (LGD4, 67%)

This rating has been downgraded:

   -- Senior subordinated notes due 2013, from Ba3 to B1
      (LGD5, 89%)

Esterline Technologies Corp., headquartered in Bellevue WA,
serves aerospace and defense customers with products for
avionics, propulsion and guidance systems.  The company operates
in three business segments: Avionics and Controls, Sensors and
Systems and Advanced Materials.


EXPELBECK LTD: Creditors Confirm Liquidator's Appointment
---------------------------------------------------------
Creditors of Expelbeck Ltd. (t/a Barons of Bromsgrove) confirmed
on Feb. 7 the appointment of Neil Francis Hickling of Smith &
Williamson Ltd. as the company's liquidator.

Smith & Williamson -- http://www.smith.williamson.co.uk/--
provides investment management, financial advisory and
accountancy services to private clients, professional practices,
mid to large corporations and non-profit organizations.

The company can be reached at:

         Expelbeck Ltd.
         88 Birmingham Road
         Bromsgrove
         Worcestershire
         B61 0DF
         England
         Tel: 01527 877 377
         Fax: 01527 878 767


EUROTUNNEL GROUP: Tier 3 Holders & Bondholders Underwrite Notes
---------------------------------------------------------------
Eurotunnel Group stated that the notes redeemable in shares
(NRS) for the four holders of Tier 3 debt, who opted to exercise
cash option, have been fully underwritten by the other holders
of Tier 3 and by a majority of the bondholders.

The monetization of these NRS is therefore guaranteed through
the cash made available by the creditors who have put themselves
forward to underwrite the available NRS.  Eurotunnel will not be
required to fund payment of the cash option.

A priority reserve of GBP60 million of NRS will be available to
Eurotunnel shareholders who took part in the Exchange Tender
Offer.

As reported in the TCR-Europe on Feb. 6, four holders
representing 32.5% of the company's GBP575 million Tier 3 debt
opted to exercise the cash option.

The company's safeguard plan, approved by the Paris Commercial
Court on Jan. 15, allowed that in exchange for abandoning their
debt, the holders of Tier 3 debt will receive notes redeemable
in shares (NRS) issued by the new company, Eurotunnel Group U.K.
Plc, and redeemable in ordinary shares in the new company Groupe
Eurotunnel SA.

                        About Eurotunnel

Headquartered in Folkestone, United Kingdom and Calais, France,
Eurotunnel Group -- http://www.eurotunnel.co.uk/-- operates a
fleet of 25 shuttle trains, which carry cars, coaches and
trucks.  It manages the infrastructure of the Channel Tunnel and
receives toll revenues from train operating companies whose
trains pass through the Tunnel.

The British and French governments have granted Eurotunnel a
concession to operate the Channel Tunnel until 2086.

Eurotunnel Group files reports in the U.S. Securities and
Exchange Commission under the names of Eurotunnel PLC (ETNUF.PK)
and Eurotunnel SA (ETTFF.PK).

                        *     *     *

Eurotunnel's crisis began when costs to build the tunnels that
connect U.K. and France started to overrun before it opened in
1994.  The Iraq war followed, which didn't help as tourist
traffic fell.  In May 2004, Eurotunnel appointed Lazard (global
coordinator) and Lehman Brothers as bank advisors, and Dresdner
Kleinwort Wasserstein as restructuring adviser.

In July 2004, auditor KPMG Audit Plc said the company faced
uncertainty after 2005.  The firm's survival is dependent upon
its ability to put in place a refinancing plan or, if not, to
obtain an agreement with the lenders under the existing Credit
Agreement within the next two years, the auditor said.

Eurotunnel obtained Aug. 2, 2006, an order placing the channel
operator under the protection of the Court pursuant to the new
safeguard legislation (Procedure de sauvegarde).

On Jan. 15, the Court approved Eurotunnel's safeguard plan,
backed by the court-appointed representatives to the company and
to the creditors.


FONE BOUTIQUE: Creditors' Meeting Slated for February 22
--------------------------------------------------------
Creditors of The Fone Boutique Ltd. will meet at 2:00 p.m. on
Feb. 22 at:

         B&C Associates
         Trafalgar House
         Grenville Place
         Mill Hill
         London
         NW7 3SA
         England

Creditors who want to vote at the meeting must submit their
proxy forms together with particulars of their claims or of any
security at the said address.


H.M.H. CONSTRUCTION: Names Keith Barry Stout Liquidator
-------------------------------------------------------
Keith Barry Stout was appointed liquidator of H.M.H.
Construction Ltd. on Feb. 7 for the creditors' voluntary
winding-up proceeding.

The company can be reached at:

         H.M.H. Construction Ltd.
         15 Greenwich High Road
         London
         SE108JL
         England
         Tel: 0870 950 4424
         Fax: 0870 950 4425


ILFORD PRINT: Creditors' Meeting Slated for March 1
---------------------------------------------------
Creditors of Ilford Print Ltd. (formerly Global Print Air Ltd.)
will meet at 10:30 a.m. on March 1 at:

         70 Conduit Street
         London
         W1S 2GF
         England

Creditors who want to vote at the meeting have until noon on
Feb. 28 to submit their proxy forms together with particulars of
their claims or of any security at:

         Begbies Traynor
         The Old Exchange
         234 Southchurch Street
         Southend-on-Sea
         Essex
         SS1 2EG
         England

R. A. Segal of Begbies Traynor will furnish creditors with
information concerning the company's affairs free of charge as
they may reasonably require.


INTEGRITY RECRUITMENT: Appoints PwC to Administer Assets
--------------------------------------------------------
David James Bennett and Robert William Birchall of
PricewaterhouseCoopers LLP were appointed on Feb. 7, joint
administrators of:

    -- Integrity Recruitment Ltd. (Company Number 04375073);
    -- NTT Fundraising Ltd. (Company Number 04306360);
    -- Face 2 Face Fundraising Ltd. (Company Number 04306345);
    -- The Dialog Group Ltd. (Company Number 04560967); and
    -- Daloguedirect Ltd. (Company Number 03941779).

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 Bristol, England, the companies are operates
charity and fundraising schemes.


ISOFT GROUP: Australia's IBA Health Sets Up All-Share Bid
---------------------------------------------------------
IBA Health Ltd. is preparing an all-share offer for iSoft Group
Plc, Reuters reports.

According to the report, IBA stated that it was negotiating on
obtaining funds to refinance iSoft's existing debt facilities
and give IBA sufficient working capital for a bigger group.

iSoft disclosed that it is still considering a number of
alternatives after preferred buyer McKesson Corp. placed
takeover talks for a GBP200 million deal on hold, Reuters
relates.

According to the Times, McKesson insisted on unspecified
contract conditions with Computer Sciences Corp., which broke
down the negotiations.  Any new owner of iSoft will need the
approval of CSC, a major contractor to the National Health
Services, as it subcontracts work to iSoft.

"McKesson would be the best buyer because they're a cash bidder,
but they would have to be persuaded to drop all their current
demands," a source close to the sale was quoted by the Times as
saying.  "Until they do that, they've been told that they're not
going forward."

                           About iSOFT

Headquartered in Manchester, United Kingdom, iSOFT Group plc
-- http://www.isoftplc.com/-- supplies advanced medical
software applications for the healthcare sector.  Its products
are used by more than 8,000 organizations in 27 countries for
managing patient information and driving improvements in
healthcare services.  In international markets, the group has a
strong presence in the Asia-Pacific, including Singapore and
India.

                          *     *     *

In June 2006, the Group disclosed of a change in accounting
policy, as a consequence of which it became necessary to review
revenue recognition in prior years, in order to re-state some
prior year revenues.  Arising out of that review, a number of
possible accounting irregularities came to light in which it
appears that some revenues reported in 2003/04 and 2004/05 may
have been recognized earlier than they should have been.

On July 20, 2006, the Group engaged its auditors, Deloitte &
Touche LLP, to conduct a formal initial investigation into these
possible irregularities.  In August 2006, it was confirmed that
there were indeed matters that needed further investigation and
we handed over relevant documents to the Financial Services
Authority (FSA), which is now conducting further investigations.
The Group is working closely and co-operatively with the FSA in
order to complete these investigations as quickly as possible.
At the current time it would be inappropriate to comment on the
likely outcome.

On Oct. 25, 2006, the Accountancy Investigation and Discipline
Board (AIDB) disclosed that it would conduct its own
investigation.  The AIDB investigation is a review of the
conduct of those members of accountancy bodies that are
regulated by the AIDB who were executive or non-executive
directors of iSOFT during the relevant periods, and RSM Robson
Rhodes LLP, iSOFT's auditor for the financial years ended
April 30 2003, 2004 and 2005.

All current executive directors of iSOFT who are members of
those accountancy bodies were appointed after the dates under
investigation, as was the non-executive director who is
currently chairman of the audit committee.  The initial
investigation into possible accounting irregularities --
conducted by the Group's current auditors, Deloitte & Touche
LLP, in July and August 2006 -- did not uncover evidence that
any of the current non-executive directors had any knowledge of
the irregularities.

On the basis of information that has come to light so far, the
Group does not believe that these matters will have any impact
on the current or future financial position of iSOFT.

                        Going Concern Doubt

At Oct. 31, 2006, the company's board of directors recognized
that there are material uncertainties that may cast significant
doubt on the Group's ability to continue as a going concern.


J C PIPE: Hires Liquidator from Begbies Traynor
-----------------------------------------------
David Hill of Begbies Traynor was appointed liquidator of J C
Pipe Services Ltd. (formerly RIJEM Engineering Ltd.) on Feb. 7
for the creditors' voluntary winding-up procedure.

Begbies Traynor -- http://www.begbies.com/-- assists companies,
creditors, financial institutions and individuals on all aspects
of financial restructuring and corporate recovery.

The company can be reached at:

         J C Pipe Services Ltd.
         Unit 10
         Bedwas House Industrial Estate
         Bedwas
         Caerphilly
         Mid Glamorgan
         CF838DW
         Wales
         Tel: 029 2088 7996


JWT SCOTLAND: Difficult Trading Conditions Spur Administration
--------------------------------------------------------------
JWT (Scotland) Ltd., a Dundee-based textiles firm trading under
the Donald Brothers and Godfreys Technical Textiles brands, has
gone into administration, The Courier reports.

George Johnston, managing director of JWT, revealed the company
suffered difficult trading conditions as a result of high
current dollar rate and increased competition in several of its
traditional high-end markets.

Graham Martin and Laurie Manson of PricewaterhouseCoopers were
appointed joint administrators of JWT on Feb. 16.

According to Mr. Martin, a buyer is being sought for the
business.  Donald Brothers will however continue to trade in the
short term.

Meanwhile, news of the administration triggered fears over job
losses.

An employee of JWT told The Courier that there would be
redundancies.

In November 2005, JWT (Scotland) Ltd. was formed in a management
buy-out from the William Halley Group.  The company employs 36
people in Dundee.  It has an annual turnover of about GBP3.5
million, The Courier relates.

Donald Brothers -- http://www.donald-bros.com/-- designs and
manufactures furnishing fabrics.

Godfreys Technical Textiles --
http://www.godfreysofdundee.co.uk/-- supplies geotextiles and
geogrids for civil engineering applications.


LEARNING DESIGN: Appoints Liquidator from Begbies Traynor
---------------------------------------------------------
Richard Andrew Segal of Begbies Traynor was appointed liquidator
of Learning Design Ltd. on Feb. 6 for the creditors' voluntary
winding-up procedure.

Begbies Traynor -- http://www.begbies.com/-- assists companies,
creditors, financial institutions and individuals on all aspects
of financial restructuring and corporate recovery.

The company can be reached at:

         Learning Design Ltd.
         Limehouse Court 3-11
         Dod Street
         Tower Hamlets
         London
         England
         Tel: 020 7093 4051


M.A.P. WOODCRAFT: Brings In Mazars LLP to Administer Assets
-----------------------------------------------------------
Timothy Colin Hamilton Ball and Roderick John Weston of Mazars
LLP were appointed joint administrators of M.A.P. Woodcraft
(Caerphilly) Ltd. (Company Number 01097296) on Jan. 19.

Mazars -- http://www.mazars.com/-- provides in audit,
accounting, tax, and advisory services.

The company can be reached at:

         M.A.P. Woodcraft (Caerphilly) Ltd.
         The Rhos
         Bedwas Road
         Caerphilly
         Mid Glamorgan
         CF83 3AU
         Wales
         Tel: 029 2088 2339
         Fax: 029 2086 8315


MCCARTHY DESIGN: Names Ninos Koumettou as Administrator
-------------------------------------------------------
Ninos Koumettou of Alexander Lawson Jacobs was named
administrator of McCarthy Design & Build Ltd. (Company Number
3006222) on Jan. 19.

The administrator can be reached at:

         Ninos Koumettou
         Alexander Lawson Jacobs
         1 Kings Avenue
         Winchmore Hill
         London
         EC1V 2NJ
         United Kingdom
         Tel: 0845 260 0590

The company can be reached at:

         McCarthy Design & Build Ltd.
         Tempo House
         15 Falcon Road
         Wandsworth
         London
         SW11 2PJ
         England
         Tel: 020 7801 0668


MIDLAND SHEETMETAL: Appoints Joint Administrators from PwC
----------------------------------------------------------
Stuart David Maddison and David Matthew Hammond of
PricewaterhouseCoopers LLP were appointed joint administrators
of Midland Sheetmetal Ltd. (Company Number 02101564) on Feb. 6.

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.

The company can be reached at:

         Midland Sheetmetal Ltd.
         Lee Side
         Merrylees Industrial Estate
         Desford
         Leicester
         Leicestershire
         L E9 9FS
         England
         Tel: 01530 230 833
         Fax: 01530 230 302


MIGHTY MUESLI: Creditors' Meeting Slated for February 23
--------------------------------------------------------
Creditors of Mighty Muesli Ltd. will meet at 10:30 a.m. on
Feb. 23 at:

         Buckerell Lodge Hotel
         Topsham Road
         Exeter
         EX2 4SQ
         England

Creditors who want to vote at the meeting have until noon on
Feb. 22 to submit their proxy forms together with particulars of
their claims or of any security at:

         Boracic
         PO Box 25
         Newton Abbot
         TQ13 0WY
         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. 21 at Boracic.


MILLENNIUM FURNITURE: Creditors' Meeting Slated for February 23
---------------------------------------------------------------
Creditors of Millennium Furniture Imports (Retail) Ltd. will
meet at 11:00 a.m. on Feb. 23 at:

         Bridgestones
         125-127 Union Street
         Oldham
         OL1 1TE
         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. 21.


MODULAR WIRING: Appoints Joint Administrators from DTE Leonard
--------------------------------------------------------------
J M Titley, A Poxon and P Reeves of DTE Leonard Curtis were
appointed joint administrators of Modular Wiring Systems Europe
Ltd. (Company Number 02858917) on Jan. 29.

DTE Leonard Curtis -- http://www.dtegroup.com/-- offers tax
consultancy, company secretarial services, corporate finance,
corporate recovery, turnaround, forensic accounting, financial
services and insurance & risk management.

The company can be reached at:

         Modular Wiring Systems Europe Ltd.
         Unit 32
         Moor Park Industrial Centre
         Tolpits Lane
         Watford
         Hertfordshire
         WD18 9SP
         England
         Tel: 01923 220 777
         Fax: 01923 800 787


NEW SOUND: Taps Robert Day to Liquidate Assets
----------------------------------------------
Robert Day of Robert Day and Company Ltd. was appointed
liquidator of New Sound 2000 Ltd. on Feb. 8, for the creditors'
voluntary winding-up proceeding.

The company can be reached at:

         New Sound 2000 Ltd.
         8 Hornton Place
         Kensington and Chelsea
         London
         W8 4LZ
         England
         Tel: 020 7937 0272
         Fax: 020 7368 6573


NEW WAVES: Brings In Ray Purnell as Administrator
-------------------------------------------------
Ray Purnell of Purnells was appointed administrator of New Waves
(Cornwall) Ltd. (Company Number 04003534) on Jan. 29.

The administrator can be reached at:

         Ray Purnell
         Purnells
         Trewoon
         Poldhu Cove
         Mullion
         Near Helston
         Cornwall
         TR12 7JB
         England

The company can be reached at:

         New Waves (Cornwall) Ltd.
         The Shell Factory
         Long Rock Industrial Estate
         Long Rock
         Penzance
         Cornwall
         TR20 8HX
         England
         Tel: 01736 365 169
         Fax: 01736 268 545


OSLO LTD: Creditors Confirm Liquidator's Appointment
----------------------------------------------------
Creditors of Oslo Ltd. (formerly Retro Image Ltd.) confirmed on
Feb. 7 the appointment of Tracy Ann Taylor of Abbey Taylor Ltd.
as the company's liquidator.

The company can be reached at:

         Oslo Ltd.
         15 Pack Horse Walk
         Huddersfield
         West Yorkshire
         HD1 2RT
         England
         Tel: 01484 340 788


PAD INTERIORS: Hires Ian Franses to Liquidate Assets
----------------------------------------------------
Ian Franses of Ian Franses Associates was appointed liquidator
of Pad Interiors (U.K.) Ltd. on Feb. 8 for the creditors'
voluntary winding-up procedure.

The company can be reached at:

         Pad Interiors (U.K.) Ltd.
         Laurean House
         Pincroft Wood
         Longfield
         Kent
         DA3 7HB
         England
         Tel: 01474 700 088
         Fax: 01474 700 077


PAF HOLDINGS: Names Lloyd Biscoe Liquidator
-------------------------------------------
Lloyd Biscoe of Begbies Traynor was appointed liquidator of PAF
Holdings Ltd. (formerly APPI Ltd and APPI Group Services Ltd.)
on Feb. 2 for the creditors' voluntary winding-up proceeding.

Begbies Traynor -- http://www.begbies.com/-- assists companies,
creditors, financial institutions and individuals on all aspects
of financial restructuring and corporate recovery.

The company can be reached at:

         PAF Holdings Ltd.
         Mill Lane
         Westbury
         Brackley
         Northamptonshire
         NN135JS
         England
         Tel: 01280 706 667
         Fax: 01280 705 992


PALADIN WHOLESALE: Appoints William Paxton as Liquidator
--------------------------------------------------------
William Paxton of Robson Laidler LLP was appointed liquidator of
Paladin (Wholesale) Ltd. on Jan. 31 for the creditors' voluntary
winding-up proceeding.

Robson Laidler -- http://www.robson-laidler.co.uk/-- offers a
range of services including audit and accountancy, tax planning
and mitigation, business strategy, corporate finance, personal
financial planning, recovery and insolvency.

The company can be reached at:

         Paladin (Wholesale) Ltd.
         2 Monkseaton Drive
         Whitley Bay
         Tyne and Wear
         NE261SZ
         England
         Tel: 0191 253 4121


PEMBROKESHIRE SKILLS: Creditors' Meeting Slated for March 2
-----------------------------------------------------------
Creditors of Pembrokeshire Skills Park Ltd. (t/a Infotech - PSP)
will meet at 11:00 a.m. on March 2 at:

         Stones & Co.
         63 Walter Road
         Swansea
         SA1 4PT
         Wales

Creditors must submit their proxy forms together with
particulars of their claims or of any security at the said
address before the meeting.

A list of names and addresses of the company's creditors will be
available for inspection free of charge on Feb. 28.


PROSOL ELECTRONICS: Appoints Joint Administrators from Kroll Ltd
----------------------------------------------------------------
Alastair Paul Beveridge, Peter Mark Saville and Andrew John
Pepper of Kroll Ltd. were appointed joint administrators of
Prosol Electronics Ltd. (Company Number 02559490) on Feb. 1.

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.

The company can be reached at:

         Prosol Electronics Ltd.
         James House
         Colmworth Business Park
         Eaton Socon
         St. Neots
         Cambridgeshire
         PE19 8YG
         England
         Tel: 01480 406 606
         Fax: 01480 406 634


PUKKA CLOTHING: Joint Liquidators Take Over Operations
------------------------------------------------------
Carl Derek Faulds and James Richard Tickell of Portland Business
& Financial Solutions Ltd. were appointed joint liquidators of
Pukka Clothing U.K. Ltd. on Feb. 9 for the creditors' voluntary
winding-up procedure.

The company can be reached at:

         Pukka Clothing U.K. Ltd.
         Burnham House
         Market Place
         Burnham Market
         King's Lynn
         Norfolk
         PE318HD
         England
         Tel: 01328 730 568
         Fax: 01328 730 568


QUICKFISH LTD: Taps Joint Administrators from Jacksons Jolliffe
---------------------------------------------------------------
Matthew Colin Bowker and David Antony Willis of Jacksons
Jolliffe Cork were appointed joint administrators of Quickfish
Ltd. (Company Number 01359558) on Jan. 30.

Jacksons 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.
The company can be reached at:

         Quickfish Ltd.
         Henderson Street
         Grimsby
         South Humberside
         DN31 3QD
         England
         Tel: 01472 352 171
         Fax: 01472 361 917


R C TUCKER: Appoints Duncan Roderick Morris as Administrator
------------------------------------------------------------
Duncan Roderick Morris of The Till Morris Partnership was
appointed administrator of R C Tucker Transport Ltd. (Company
Number 04431341) on Jan. 19.

The administrator can be reached at:

         Duncan Roderick Morris
         The Till Morris Partnership
         2 Church St.
         Warwick
         Warwickshire
         CV34 4AB
         England
         Tel: 01926 497722

The company can be reached at:

         R C Tucker Transport Ltd.
         Unit 2 Kimberley
         Stathern Land
         Harby
         Melton Mowbray
         Leicestershire
         LE14 4DA
         England
         Tel: 01949 860 203


RILEY ELECTRICAL: Creditors' Meeting Slated for February 23
-----------------------------------------------------------
Creditors of Riley Electrical Services Ltd. will meet at noon on
Feb. 23 at:

         Baker Tilly
         International House
         Queens Road
         Brighton
         BN1 3XE
         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. 21.

Baker Tilly -- http://www.bakertilly.co.uk/-- provides auditing
and other services for mid-cap and smaller publicly listed
companies and private companies, particularly those expanding
into new foreign markets.  Services include business and
financial planning, tax-related services, corporate finance,
litigation support, turnaround services, and technology
consulting.


RUNRIG INTERNATIONAL: Hires Liquidator from Antony Batty & Co
-------------------------------------------------------------
William Antony Batty of Antony Batty & Co. was appointed
liquidator of Runrig International Ltd. on Jan. 11 for the
creditors' voluntary winding-up procedure.

The company can be reached at:

         Runrig International Ltd.
         27 Sun Street
         Biggleswade
         Bedfordshire
         SG180BP
         England
         Tel: 01767 601 102
         Fax: 01767 312 106


SCREEN ARTS: Brings In Liquidator from Begbies Traynor
------------------------------------------------------
David Acland of Begbies Traynor was appointed liquidator of
Screen Arts Ltd. on Feb. 6 for the creditors' voluntary winding-
up proceeding.

Begbies Traynor -- http://www.begbies.com/-- assists companies,
creditors, financial institutions and individuals on all aspects
of financial restructuring and corporate recovery.

The company can be reached at:

         Screen Arts Ltd.
         Chorley Road
         Adlington
         Chorley
         Lancashire
         PR6 9LP
         England
         Tel: 01257 483 607
         Fax: 01257 483 606


SEABAY LTD: Brings In Jacksons Jolliffe as Joint Administrators
---------------------------------------------------------------
Matthew Colin Bowker and David Antony Willis of Jacksons
Jolliffe Cork were appointed joint administrators of Seabay Ltd.
(Company Number 01441811) on Jan. 30.

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.

The company can be reached at:

         Seabay Ltd.
         Kemp Road
         North Wall Fish Docks
         Grimsby
         South Humberside
         DN31 3TA
         England
         Tel: 01472 245 100
         Fax: 01472 245 143


SNMP LTD: Brings In Liquidators from Rothman Pantall & Co
---------------------------------------------------------
Robert Derek Smailes and Stephen Blandford Ryman of Rothman
Pantall & Co. were appointed joint liquidators of SNMP Ltd. on
Feb. 2 for the creditors' voluntary winding-up proceeding.

Rothman Pantall & Co -- http://www.rothman-pantall.co.uk/--
provides financial accounting and corporate services.

The company can be reached at:

         SNMP Ltd.
         Unit 11
         Pall Mall Deposit 124-128
         Barlby Road
         Kensington and Chelsea
         London
         W10 6BL
         England
         Tel: 020 7935 9301


SOLUTIA INC: Court Extends Removal of Actions Period Until May 7
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
approved Solutia Inc. and its debtor-affiliates' request to
extend the time within which they can file notices of removal of
civil actions and proceedings from Feb. 5 through and including
May 7.

As reported in the TCR-Europe on Jan. 30, Jonathan S. Henes,
Esq., at Kirkland & Ellis LLP, in New York, told the Court that
the Debtors continue to review their files and records to
determine whether to remove a number of civil causes of action
pending in state or federal court to which it might be parties.

Mr. Henes stated that the Debtors' key personnel and legal
department are assessing the civil actions while being actively
involved in the Debtors' Chapter 11 cases.  Additional time to
consider filing notices of removal in the Civil Actions is
required, Mr. Henes asserted.

The rights of any party to the Civil Actions will not be
prejudiced by the extension, Mr. Henes assured the Court.

Headquartered in St. Louis, Missouri, Solutia Inc. (OTCBB:SOLUQ)
-- http://www.solutia.com/-- and its subsidiaries, engage in
the manufacture and sale of chemical-based materials, which are
used in consumer and industrial applications worldwide.  The
company and 15 debtor-affiliates filed for chapter 11 protection
on Dec. 17, 2003 (Bankr. S.D.N.Y. Case No. 03-17949).  When the
Debtors filed for protection from their creditors, they listed
US$2,854,000,000 in assets and US$3,223,000,000 in debts.

Solutia is represented by Allen E. Grimes, III, Esq., at
Dinsmore & Shohl, LLP and Conor D. Reilly, Esq., at Gibson, Dunn
& Crutcher, LLP.  Trumbull Group LLC is the Debtor's claims and
noticing agent.  Daniel H. Golden, Esq., Ira S. Dizengoff, Esq.,
and Russel J. Reid, Esq., at Akin Gump Strauss Hauer & Feld LLP
represent the Official Committee of Unsecured Creditors, and
Derron S. Slonecker at Houlihan Lokey Howard & Zukin Capital
provides the Creditors' Committee with financial advice.
(Solutia Bankruptcy News, Issue No. 79; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


TERABYTE COMPUTER: Creditors Confirm Liquidator's Appointment
-------------------------------------------------------------
Creditors of Terabyte Computer Solutions Ltd. confirmed on
Feb. 7 the appointment of Tracy Ann Taylor of Abbey Taylor Ltd.
as the company's liquidator.

The company can be reached at:

         Terabyte Computer Solutions Ltd.
         3 High Street
         Dodworth
         Barnsley
         South Yorkshire
         S75 3RF
         England
         Tel: 01226 785 920


UPGRADE RECRUITMENT: K. T. Brown Leads Liquidation Procedure
------------------------------------------------------------
K. T. Brown of Marriotts LLP was appointed liquidator of Upgrade
Recruitment Ltd. (t/a Upgrade Recruitment) on Jan. 25 for the
creditors' voluntary winding-up procedure.

The company can be reached at:

         Upgrade Recruitment Ltd.
         117a Putney High Street
         Wandsworth
         London
         SW151SS
         England
         Tel: 020 8780 9922
         Fax: 020 8780 2221


VINYL TECHNIQUES: Creditors' Meeting Slated for March 1
-------------------------------------------------------
Creditors of Vinyl Techniques Ltd. will meet at 11:15 a.m. on
March 1 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. 27.


VIOLET INK: Taps Liquidator from B & C Associates
-------------------------------------------------
Jeffrey Mark Brenner of B & C Associates was appointed
liquidator of Violet Ink Design Consultants Ltd. on Feb. 6 for
the creditors' voluntary winding-up procedure.

The company can be reached at:

         Violet Ink Design Consultants Ltd.
         Unit 4
         Handford Court
         Watford
         Hertfordshire
         WD259EJ
         England
         Fax: 01923 251 188


VOLCLAY LTD: Creditors' Meeting Slated for March 5
--------------------------------------------------
Creditors of Volclay Ltd. will meet at 11:30 a.m. on March 5 at
the offices of:

         Parkin S. Booth & Co.
         44 Old Hall Street
         Liverpool
         L3 9EB
         England

I. C. Brown of Parkin S. Booth & Co. will furnish creditors with
information concerning the company's affairs free of charge as
they may reasonably require.

Parkin S. Booth & Co http://www.parkinsbooth.co.uk/-- deals
entirely with insolvency practice.


WATERTRONICS INT'L: Taps Hurst Morrison as Administrators
---------------------------------------------------------
Robert C Keyes and Paul W Ellison of Hurst Morrison Thomson CR
LLP were appointed joint administrators of Watertronics
International Ltd. (Company Number 03628993) on Jan. 26.

The administrators can be reached at:

         Robert C Keyes and Paul W Ellison
         Hurst Morrison Thomson CR LLP
         5 Fairmile
         Henley on Thames
         Oxfordshire
         RG9 2JR
         England
         Tel: +44 (0) 1491 579866
         Fax: +44 (0) 1491 573397
         E-mail: hmt@hmtgroup.co.uk

The company can be reached at:

         Watertronics International Ltd.
         Unit 9 Area C
         Radley Road Industrial Estate
         Abingdon
         Oxfordhire
         OX1 43RY
         England
         Tel: 01635 200 201
         Fax: 01235 525 310


WHAT C: Creditors' Meeting Slated for February 28
-------------------------------------------------
Creditors of What C Exhibitions Ltd. will meet at noon on
Feb. 28 at the offices of:

         Griffin & King
         26-28 Goodall Street
         Walsall
         West Midlands
         WS1 1QL
         England

Creditors who want to vote at the meeting have until noon on
Feb. 27 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 on Feb. 26.


* Large Companies with Insolvent Balance Sheets
-----------------------------------------------

                                Shareholders   Total    Working
                                   Equity      Assets   Capital
                          Ticker    (US$MM)    (US$MM)   (US$MM)
                          ------ -----------  -------   --------

AUSTRIA
-------
Libro AG                            (111)         174     (182)
Rhi AG                              (214)       1,756      293


BELGIUM
-------
City Hotels               CITY.BR     (7)         210      (15)
Sabena S.A.                          (86)       2,215     (297)


CZECH REPUBLIC
--------------
Ceskomoravska Kolben &
   Danek Praha Holding               (89)         192   (2,186)


DENMARK
-------
Elite Shipping                       (28)         101       19


FRANCE
------
Acces Industrie                       (8)         106      (35)
Arbel                     PA.ARB     (98)         222      (72)
Banque Nationale
   de Paris Guyane        BNPG       (41)         352      N.A.
BSN Glasspack                       (101)       1,151      179
Charbo De France                  (3,872)       4,738   (2,868)
Compagnie Francaise de
   l'Afrique Occidentale             (65)         256       21
Dollfus Mieg & Cie S.A.   DS         (16)         143      (45)
Euro Computer System                (110)         682      377
Genesys S.A.              GNS.PA     (10)         120       (5)
Grande Paroisse S.A.                (927)         629      330
Immob Hoteliere                      (68)         233       29
Labo Dolisos              DOLI.PA    (28)         110      (33)
Matussiere et Forest S.A. MTF        (78)         294      (28)
Oeneo S.A.                SABT.PA    (12)         292       38
Pneumatiques Kleber S.A.             (34)         480      139
Rhodia S.A.               RHA       (788)       6,681      171
SDR Centrest                        (132)         252      N.A.
SDR Picardie                        (135)         413      N.A.
Selcodis S.A.             SPVX       (18)         128       22
Soderag                               (3)         404      N.A.
Sofal S.A.                          (305)       6,619      N.A.
Spie-Batignolles                     (16)       5,281       75
St Fiacre (FIN)                       (1)         111      (33)
Teamlog                   TLO        (19)         109       (3)
Trouvay Cauvin                        (0)         134       10
Usines Chausson                      (23)         249       35


GERMANY
-------
Cognis Deutschland
   GmbH & Co. KG                    (174)       3,003      606
Dortmunder
   Actien-Brauerei        DABG       (13)         118      (29)
EM.TV AG                  EV4G.BE    (22)         849       15
F.A. Guenther & Son AG    GUSG        (8)         111      N.A.
Kaufring AG               KAUG       (19)         151      (51)
Maternus Kliniken AG      MAK.F       (3)         207      (30)
Nordsee AG                            (8)         195      (31)
Plambeck Neue
   Energien AG            PNE3        (4)         141       19
Primacom AG               PRIG      (268)       1,257   (1,048)
Rinol AG                  RLIG       (64)         104      (15)
Schaltbau Hold            SLTG       (23)         144       (7)
SinnLeffers AG            WHGG        (4)         454     (145)
Spar Handels- AG          SPAG      (442)       1,433     (234)
Vivanco Gruppe                       (55)         131      (31)


GREECE
------
Empedos S.A.              EMPED      (34)         175      (48)
Pouliadis Associates
   Corporation            POUL       (28)         124      (31)
Radio A.Korassidis        KORA      (101)         181     (139)
   Commercial

HUNGARY
-------
Exbus Asset Management
   Nyrt.                  EXBUS      (30)         118   (5,162)


ICELAND
-------
Decode Genetics Inc.      DCGN        (9)         229      141

ITALY
-----
Binda S.p.A.              BND        (11)         129      (20)
Cirio Finanziaria S.p.A.            (422)       1,583     (396)
Credito Fondiario
   e Industriale S.p.A.             (200)       4,218      N.A.
Finpart S.p.A.                      (152)         732     (322)
Gruppo Coin S.p.A.        GC        (150)       4,218      N.A.
I Viaggi del
   Ventaglio S.p.A.       VVE.MI     (61)         487      (58)
Olcese S.p.A.             OLCI.MI    (13)         180      (64)
Parmalat Finanziaria
   S.p.A.                        (18,419)       4,121  (12,481)
Technodiffusione
   Italia S.p.A.          TDIFF.PK   (90)         152      (24)
Wind Telecomunicazioni
   S.p.A.                            (10)      12,698     (815)

NETHERLANDS
-----------
Baan Company N.V.         BAAN        (8)         610       46
United Pan-Euro Air       UPC     (5,266)       5,180   (8,730)


NORWAY
------
Petroleum-Geo Services    PGO        (32)       2,963   (5,250)


POLAND
------
Mostostal Zabrze          MECOF.PK    (6)         227     (366)
Vista Alegre Atlantis
   SGPS S.A.              VAAAE      (18)         193      (83)

ROMANIA
-------
Oltchim RM Valce          OLT        (45)         232     (321)


RUSSIA
------
OAO Samaraneftegas                  (332)         892  (16,942)
Zil Auto                            (185)         378  (11,107)


SPAIN
-----
Altos Hornos de
   Vizcaya S.A.                     (116)       1,283     (278)
Santana Motor S.A.                   (46)         223       41
Sniace S.A.                          (10)         134      (37)


SWITZERLAND
-----------
Wedins Skor
    Accessoarer AB                   (10)         139     (129)


TURKEY
------
Nergis Holding                       (24)         125       26
Yasarbank                           (948)         623      N.A.


UKRAINE
-------
Dnepropetrovsk Metallurgical
   Plant Imeni Petrovsko              (2)         278     (509)
Dniprooblenergo                      (38)         478     (797)
Donetskoblenergo                    (166)         706   (1,320)


UNITED KINGDOM
--------------
Abbott Mead Vickers                   (2)         168      (16)
AEA Technology Plc        AAT.L      (24)         340      (50)
Alldays Plc                         (120)         252     (202)
Amey Plc                             (49)         932      (47)
Anker Plc                 ANK.L      (22)         115       13
Atkins (WS) Plc           ATK        (63)       1,279       70
Bonded Coach
   Holiday Group Plc                  (6)         188      (44)
Blenheim Group                      (153)         198      (34)
Booker Plc                BKRUY      (60)       1,298       (8)
Bradstock Group           BDK         (2)         269        5
Brent Walker Group        BWL     (1,774)         867   (1,157)
British Energy Plc        BGY     (5,823)       4,921      434
British Nuclear
   Fuels Plc                      (4,248)      40,326      977
Compass Group             CPG       (668)       2,972     (298)
Costain Group             COST       (39)         567       (5)
Danka Bus System          DNK.L     (108)         540       34
Dawson Holdings           DWN.L      (12)         158      (19)
Easynet Group             ESY.L      (45)         323       38
Electrical and Music
   Industries Group       EMI     (1,264)       2,818     (253)
Euromoney Institutional
   Investor Plc           ERM.L      (88)         297      (56)
European Home Retail Plc  EHRL       (14)         111      (37)
Gartland Whalley                     (11)         145       (8)
Global Green Tech Group             (156)         408      (18)
Gondola Holdings Plc      GND.L     (239)         987     (396)
Heath Lambert
   Fenchurch Group Plc               (10)       4,109      (10)
HMV Group Plc             HMV         (4)         948     (175)
Homestyle Group Plc       HME        (29)         409     (124)
Imperial Chemical
   Industries Plc         ICI       (835)       8,881      (49)
Invensys PLC                      (1,031)       3,875      494
IPC Media Ltd.                      (685)         254       16
Jarvis Plc                JRVS.L    (683)         492     (371)
Lambert Fenchurch Group               (1)       1,827        3

Lattice Group                     (1,290)      12,410   (1,228)
Leeds United              LDSUF.PK   (73)         144      (29)
M 2003 Plc                        (2,204)       7,205     (756)
Manchester City                      (17)         154      (21)
Micro Focus
   International Plc      MCRO.L     (14)         115      (11)
Mytravel Group            MT.L      (283)       1,159     (410)
Orange Plc                ORNGF     (594)       2,902        7
Park Group Plc            PKG.L       (5)         111      (13)
Partygaming Plc           PRTY       (46)         398     (110)
Premier Farner Plc        PFL        (33)         964      127
Premier Foods Plc         PFD.L      (31)       1,475       16
Probus Estates Plc        PBE.L      (28)         113      (49)
Regus Plc                 RGU.L      (46)         367      (60)
Rentokil Initial Plc      RTO     (1,134)       2,678      (45)
RHM Plc                   RHM       (586)       2,411       59
Saatchi & Saatchi         SSI       (119)         705      (41)
Seton Healthcare                     (11)         157        0
SFI Group                           (108)         178     (162)
Telewest
   Communications Plc     TLWT    (3,702)       7,581   (5,361)
UK Coal Plc               UKC        (25)         865      (62)
Virgin Mobile
   Holdings Plc           VMOB.L    (490)         155      (80)
Wincanton Plc             WIN        (66)       1,236      (71)


                           *********

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 * * *