TCREUR_Public/070221.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

           Wednesday, February 21, 2007, Vol. 8, No. 37

                            Headlines


A U S T R I A

FANCY-MEDIA: Claims Registration Period Ends March 20
GREGO ELEKTROUNTERNEHMEN: Claims Registration Ends March 15
GTR HAUSTECHNIK: Claims Registration Period Ends March 7
LEFTEROV & CO: Claims Registration Period Ends March 28
MATRIX LLC: Claims Registration Period Ends March 28

PETZ LLC: Claims Registration Period Ends March 29
QUICK SLIM: Claims Registration Period Ends March 29
ROMAN CZIHAK: Claims Registration Period Ends March 13


F I N L A N D

METSO OYJ: Paper Unit Launches Rebuilt Pilot Paper Machine


F R A N C E

ALCATEL-LUCENT: Inks Cooperation Deal With NXP Semiconductors
ALCATEL-LUCENT: Inks Partnership Deal with Orange Business
EUROTUNNEL GROUP: Acquires Five Class 92 Locomotives


G E R M A N Y

A & M KINZEL: Claims Registration Period Ends April 5
BAUGESELLSCHAFT SCHILLERSTRASSE: Claims Filing Ends April 4
DEUTSCHES ROTES: Claims Registration Period Ends March 26
ERGO GMBH: Claims Registration Period Ends March 20
ERICH GRECK: Claims Registration Period Ends March 6

FRITZ MORGENSTERN: Claims Registration Period Ends April 13
FUCHS IMMOBILIEN: Claims Registration Period Ends March 13
GOLDLAND UHREN: Claims Registration Period Ends March 20
HANS CHRISTEINICKE: Claims Registration Period Ends March 20
HANSA DAEMMTECHNIK: Creditors' Meeting Slated for March 15

HARRA GMBH: Claims Registration Ends April 2
HARZER MODELLBAHNZENTRUM: Claims Registration Ends March 16
HAUSBAU HERMANN: Claims Registration Ends March 15
HEINRICH KEUNECKE: Claims Registration Period Ends March 20
HEINZ WENDT: Creditors' Meeting Slated for March 15

HERMANN WITZKE: Claims Registration Ends April 17
HIBAU GMBH: Claims Registration Ends March 30
HISTORISCHES WEINHAUS: Claims Registration Period Ends March 14
ICELINE GASTRO: Claims Registration Period Ends March 20
K U. M HAUSTECHNIK: Claims Registration Ends March 26

KINZEL SIEBDRUCKMASCHINEN: Claims Registration Ends April 5
KITTY-YO MUSICPRODUCTIONS: Claims Registration Ends May 3
LANDSCHAFTSPFLEGE A. L.: Claims Registration Ends March 26
M & K KARGUTH: Claims Registration Ends March 12
MINTEC SCHLIEKAU: Claims Registration Period Ends March 23

MOTORRADHAUS MAIER-REHM: Creditors Must File Claims by April 11
NOBIS MEDIA: Creditors Must Register Claims by March 13
PETER MECKERT: Creditors Must Register Claims by March 30
RCF REPAIR: Creditors' Meeting Slated for March 16
SE.LL-MARKETING GMBH: Creditors Must Register Claims by April 5

STA-MA APPARATEBAU: Creditors Must Register Claims by March 21
STERN LOGISTIK: Claims Registration Ends April 11
SUNWIND GMBH: Claims Registration Ends March 21
T & O DREH: Creditors' Meeting Slated for March 16
T-ICON GMBH: Claims Registration Ends February 28

TIBI GMBH: Claims Registration Ends March 27
TIGER GEBAUDEMANAGEMENT: Claims Registration Period Ends April 1
TOOLEE GMBH: Claims Registration Period Ends April 6
TOOLEE VERWALTUNGSGESELLSCHAFT: Claims Registration Ends April 6
TS OVERSEAS: Claims Registration Period Ends March 1

WERNER LOGISTIK: Claims Registration Period Ends April 17


I R E L A N D

EIRLES FOUR: Fitch Cuts Collateralized Debt Rating to B


I T A L Y

ALITALIA SPA: No Severance Package for Outgoing Chief Executive
TISCALI SPA: Posts 44% Group EBITDA Hike to EUR100.1 Million


K A Z A K H S T A N

AKJOL JSC: Creditors Must File Claims by April 6
AK-JOL LLP: Proof of Claim Deadline Slated for March 30
ARMAN-2000 LLP: Creditors' Claims Due April 6
EAST VIEW: Proof of Claim Deadline Slated for April 6
GARANT LLP: Creditors Must File Claims by March 30

GARSHINO LLP: Creditors' Claims Due March 30
JANASTROY LLP: Claims Filing Period Ends March 30
KAZKOMMERTSBANK: Fitch Affirms BB+ Ratings with Positive Outlook
STROY TORG: Claims Registration Ends April 6
TECHCOMBASIS LLP: Claims Registration Ends March 30


K Y R G Y Z S T A N

CENTRAL ASIAN: Claims Filing Period Ends April 6


R U S S I A

AUTOCRANES KRAST: Creditors Must File Claims by April 3
BOLSHEVIK OJSC: Penza Bankruptcy Hearing Slated for May 17
EUROCHEM MINERAL: Fitch Assigns BB- IDR with Stable Outlook
FURNITURE-BYT OJSC: Creditors Must File Claims by April 3
GELAN CJSC: Creditors Must File Claims by April 3

HEMP FACTORY: Court Names V. Emelyanov as Insolvency Manager
INDUSTRY OF COLD: Irkutsk Bankruptcy Hearing Slated for April 3
INVESTMENTS FINANCE: Creditors Must File Claims by April 3
KARPISNKOYE BEER: Creditors Must File Claims by February 27
KUBANSKAYA OIL-GAS: Bankruptcy Hearing Slated for March 27

MOSCOW BANK: Fitch Affirms B IDR on Major Shareholder's Support
PODGORENSKIY OJSC: Creditors Must File Claims by March 3
PROGRESS OJSC: Penza Bankruptcy Hearing Slated for May 17
ROSNEFT OIL: To Build Pacific Coast Refinery for Asian Exports
SPORT CJSC: Creditors Must File Claims by March 3

VNESHTORGBANK JSC: Shareholders' Meeting Slated for March 19
WOOD-TRANS-STROY: Creditors Must File Claims by March 3
WOODWORKING ENTERPRISE: Creditors Must File Claims by March 3
YUKOS OIL: Court Junks Petition to Invalidate 2004 Yugansk Sale
YUKOS OIL: Chevron & Reliance Industries Mull Possible Joint Bid

YUKOS OIL: Receiver Wants Court to Review Tangra-Oil Claim


S W I T Z E R L A N D

BARRY CALLEBAUT: Plans to Expand Production in Italy & France
CALRO JSC: Creditors' Liquidation Claims Due March 7
COMPLEX PROJECTS: Creditors' Liquidation Claims Due March 5
CONEXCO JSC: Creditors' Liquidation Claims Due March 15
CUBE-BIKES.CH LLC: Creditors' Liquidation Claims Due March 5

MINING & CONSTRUCTION: Creditors' Liquidation Claims Due March 7
NOVEL FOOD: Creditors' Liquidation Claims Due March 5
SEGRAMA LLC: Creditors' Liquidation Claims Due March 5
THOUGHT - OUT JSC: Creditors' Liquidation Claims Due March 5
TOURISTIK FINANZ: Creditors' Liquidation Claims Due March 5

WINDSTAR GRAPHICS: Creditors' Liquidation Claims Due March 7


U K R A I N E

BUSINESS SYSTEM: Claims Submission Deadline Set March 5
CHERNIATINETSKOE LLC: Claims Submission Deadline Set March 8
HMELNITSKY REPAIR-MECHANIC: Claims Filing Deadline Set March 8
KRASYLOV AUTOTRANSPORT 16841: Creditors' Claims by March 8
METALIST OJSC: Creditors Must Submit Claims by March 8


U N I T E D   K I N G D O M

ADVANCE RECRUITMENT: Names Roderick Julian Jones Liquidator
ADVANCED MARKETING: Robert E. Robotti Resigns as Director
AUBURN SECURITIES: S&P Puts Class E Notes on Watch Positive
BEAUBLADE LTD: Creditors' Meeting Slated for March 1
BEN DAVIS: Taps Liquidators from Moore Stephens LLP

BRAY SECURITY: Appoints Liquidators from Begbies Traynor
BRIAN NICHOLLS: Claims Filing Period Ends May 30
BUTLERS COLLECTION: Appoints Leslie Ross as Liquidator
CALENDAR WORLD: Creditors' Meeting Slated for February 26
CAPRICORN SOFTWARE: Creditors' Meeting Slated for February 23

CENTURY SHIPPING: Creditors' Meeting Slated for February 28
CORUS GROUP: Tata Steel Hikes Equity Share Capital to 21.98%
CORUS GROUP: Tata Group to Launch Bond Issue In Overseas Markets
CUSTOMISED INTERIORS: Creditors' Meeting Slated for February 28
DATACOM INSTALLATIONS: Appoints Liquidator from Begbies Traynor

DAVID EADY: Claims Filing Period Ends March 2
DIESPEKER G.R.P.: Creditors' Meeting Slated for March 2
EMBASSY HOME: Claims Filing Period Ends May 9
EMI GROUP: Mulls Buyback of EUR1.47-Billion Bonds
EUROTUNNEL GROUP: Acquires Five Class 92 Locomotives

EVOLINK LTD: Claims Filing Period Ends March 16
FOOTWORK SUPPLIES: Brings In Liquidators from Taylor Rowlands
FOSSE ACADEMY: Creditors' Meeting Slated for February 27
GENERAL MOTORS: Collaborates With Colorado State on E85 Ethanol
GENERAL MOTORS: Provides Update on Accounting Issues

GRAFFITI HOLDINGS: Creditors Confirm Liquidator's Appointment
HAHA PURVEYING: Calls In Liquidators from Rendell Thompson
HPS PRINTING: Claims Filing Period Ends June 9
ICE LIVE: Creditors' Meeting Slated for March 6
INPAC UK: Claims Filing Period Ends April 8

INTIME PERCUSSION: Joint Liquidators Take Over Operations
JUST PINE: Creditors' Meeting Slated for February 27
KEYCHECK LTD: Brings In Liquidators from PricewaterhouseCoopers
KINGSLEY MEDIA: Taps David Field to Liquidate Assets
LECO ACCESSORIES: Creditors' Meeting Slated for February 23

LOGO MERCHANDISING: Taps Stephen Katz to Liquidate Assets
MARK ALDWORTH: Creditors' Meeting Slated for February 28
MARKWELL PECK: Creditors' Meeting Slated for February 23
MCDOWALL CONTRACTORS: Shuts Down Days After Calling in Receivers
MIDDLESEX PUBLIC: Claims Filing Period Ends March 19

NORTHERN WINDSCREEN: Hires Liquidator from Armstrong Watson
PLANET KIDS: Creditors' Meeting Slated for March 7
RMF VENTILATION: D. R. Acland Leads Liquidation Procedure
RUSSELLTON LTD: Claims Filing Period Ends May 31
SATVISION PLC: Licensees Express Alarm on Possible Service Halt

SCORPIO PRINT: Appoints Joint Administrators from KPMG
SHEPHERD SECURITY: Taps Begbies Traynor as Joint Administrators
SILKJET LTD: Claims Filing Period Ends March 31
SIMON HORN: Brings In David Rubin to Administer Assets
SOLUTIA INC: Wants to Implement 2007 Annual Incentive Program

SOLUTIA INC: Various Parties React to Exclusivity Extension
SOUTH COAST: Names Joint Administrators from Portland Business
SPORT VENDING: Creditors Confirm Liquidator's Appointment
STOREYS INDUSTRIAL: Appoints Baker Tilly as Joint Administrators
STREET FINANCE: Fitch Upgrades GBP10.4-Mln Class E Notes to BB+

SURVEY INSPECTION: Names William Paxton as Administrator
TERABYTE COMPUTER: Names Tracy Ann Taylor Liquidator
TISCALI UK: Posts 44% Group EBITDA Hike to EUR100.1 Mln in 2006
TRAVELLERS WAY: Brings In Vincen Simmons to Administer Assets
VIBRACRAFT LTD: Creditors' Meeting Slated for March 1

VIOLET INK: Appoints Liquidator from B & C Associates
WIGSTON DIRECT: Claims Filing Period Ends March 16
WILLIAM DUNK: Creditors Confirm Voluntary Liquidation

                            *********

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


FANCY-MEDIA: Claims Registration Period Ends March 20
-----------------------------------------------------
Creditors owed money by LLC Fancy-Media (FN 45756p) have until
March 20 to file written proofs of claim to court-appointed
estate administrator Maria Brandstetter at:

         Dr. Maria Brandstetter
         Stephansplatz 4/Stiege V
         12th Floor
         1010 Vienna
         Austria
         Tel: 513 85 12
         Fax: 513 85 12/20
         E-mail: office@rechtsberaterin.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on April 3 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1606
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 31 (Bankr. Case No. 4 S 12/07b).


GREGO ELEKTROUNTERNEHMEN: Claims Registration Ends March 15
-----------------------------------------------------------
Creditors owed money by LLC Grego Elektrounternehmen (FN
101122i) have until March 15 to file written proofs of claim to
court-appointed estate administrator Karl Bergthaler at:

         Dr. Karl Bergthaler
         Marktstrasse 1
         4813 Altmuenster
         Austria
         Tel: 07612/88273
         Fax: 07612/88273-15
         E-mail: ra.haf-berg@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:20 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 Altmuenster, Austria, the Debtor declared
bankruptcy on Jan. 31 (Bankr. Case No. 20 S 16/07i).


GTR HAUSTECHNIK: Claims Registration Period Ends March 7
--------------------------------------------------------
Creditors owed money by LLC GTR Haustechnik (FN 252148g) have
until March 7 to file written proofs of claim to court-appointed
estate administrator Widukind W. Nordmeyer at:

         Dr. Georg Freimueller
         Alser Strasse 21
         1080 Vienna
         Austria
         Tel: 01/406 05 51
         Fax: 01/406 96 01
         E-mail: kanzlei@jus.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on March 21 for the
examination of claims.

The meeting of creditors will be held at:

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

Headquartered in Strasshof an der Nordbahn, Austria, the Debtor
declared bankruptcy on Jan. 31 (Bankr. Case No. 36 S 13/07i).


LEFTEROV & CO: Claims Registration Period Ends March 28
-------------------------------------------------------
Creditors owed money by OEG Lefterov & Co (FN 240388m) have
until March 28 to file written proofs of claim to court-
appointed estate administrator Ilse Korenjak at:

         Dr. Ilse Korenjak
         Gusshausstrasse 6
         1040 Vienna
         Austria
         Tel: 512 21 02
         Fax: 512 21 02-20
         E-mail: office@buresch-korenjak.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:15 a.m. on April 11 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1705
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 31 (Bankr. Case No. 3 S 13/07t).


MATRIX LLC: Claims Registration Period Ends March 28
----------------------------------------------------
Creditors owed money by LLC Matrix (FN 265531m) have until
March 28 to file written proofs of claim to court-appointed
estate administrator Stephan Riel at:

         Dr. Stephan Riel
         c/o Dr. Johannes Jaksch
         Landstrasser Hauptstrasse 1/2
         1030 Vienna
         Austria
         Tel: 713 44 33
         Fax: 713 10 33
         E-mail: kanzlei@jsr.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on April 11 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1705
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 31 (Bankr. Case No. 3 S 12/07w).  Johannes Jaksch
represents Dr. Riel in the bankruptcy proceedings.


PETZ LLC: Claims Registration Period Ends March 29
--------------------------------------------------
Creditors owed money by LLC Petz (FN 221445f) have until
March 29 to file written proofs of claim to court-appointed
estate administrator Eva Riess at:

         Dr. Eva Riess
         c/o Dr. Leopold 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 10:15 a.m. on April 12 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1701
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 31 (Bankr. Case No. 6 S 9/07a).  Leopold Riess
represents Dr. Riess in the bankruptcy proceedings.


QUICK SLIM: Claims Registration Period Ends March 29
----------------------------------------------------
Creditors owed money by LLC Quick Slim (FN 274097i) have until
March 29 to file written proofs of claim to court-appointed
estate administrator Christiane Pirker at:

         Dr. Christiane Pirker
         Hasenhutgasse 9
         Haus 3
         1120 Vienna
         Austria
         Tel: 817 57 57
         Fax: 817 57 55 17
         E-mail: Dr.Christiane.Pirker@chello.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on April 12 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1701
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 31 (Bankr. Case No. 6 S 10/07y).


ROMAN CZIHAK: Claims Registration Period Ends March 13
------------------------------------------------------
Creditors owed money by LLC Roman Czihak (FN 84367w) have until
March 13 to file written proofs of claim to court-appointed
estate administrator Martin Brandstetter at:

         Dr. Martin Brandstetter
         Bahnhofstrasse 2 (Hofmann Center)
         3300 Amstetten
         Austria
         Tel: 07472/611 22
         Fax: 07472/611 22-4
         E-mail: office@ra-brandstetter.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:50 a.m. on April 3 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of St. Poelten
         Room 216
         Second Floor (Old Building)
         St. Poelten, Austria

Headquartered in Purgstall an der Erlauf, Austria, the Debtor
declared bankruptcy on Jan. 31 (Bankr. Case No. 14 S 24/07f).


=============
F I N L A N D
=============


METSO OYJ: Paper Unit Launches Rebuilt Pilot Paper Machine
----------------------------------------------------------
Metso Paper, a unit of Metso Oyj, inaugurated the rebuilt pilot
paper machine PM 2 on Feb. 13, at the Rautpohja Paper Technology
Center in Jyvaskyla, Finland.

The PM 2 was successfully started up after the rebuild in
September 2006.  The rebuild investment included a new press
section, modernization of the dryer section and several other
improvements throughout the whole process line.  The pilot PM 2
now has a design speed of 3,000 m/min (180 km/h).

The rebuilt pilot paper machine features a closed draw press
section, designed with a totally new felt change system, with
which the felts can be pulled into the press with a new-type of
felt insertion equipment.  Also ergonomics and safety have been
raised to a new level with a cross-machine access way and other
operator-friendly solutions.

Another new feature is an impingement drying unit, which reduces
the number of dryer cylinders substantially. Its drying capacity
enables a noticeable speed increase.  It is also an excellent
tool for quality and runnability control.

In total, Metso Paper has 12 technology centers covering paper,
board and tissue making as well as all commercial pulping
processes.  The Rautpohja pilot PM 2 is one of the three pilot
paper machines.  In addition, Metso Paper has a pilot board
machine and two pilot tissue machines, as well as an extensive
range of surface treatment pilot equipment for paper finishing.
With these pilot facilities, any kind of raw material can be
tested from fiber to print.

                        About Metso

Headquartered in Helsinki, Finland, Metso Corp. aka Metso Oyj --
http://www.metso.com/-- is a global engineering and technology
corporation with 2005 net sales of around EUR4.2 billion.  Its
22,000 employees in more than 50 countries serve customers in
the pulp and paper industry, rock and minerals processing, the
energy industry and selected other industries.

The company's principal production plants are located in Brazil,
China, Finland, France, Germany, India, Italy, South Africa,
Sweden, the United Kingdom and the United States.

                        *    *    *

As of Feb. 9, Metso Oyj carries Standard & Poor's 'BB+' long-
term and 'B' short-term corporate credit ratings and 'BB' senior
unsecured debt rating.


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


ALCATEL-LUCENT: Inks Cooperation Deal With NXP Semiconductors
-------------------------------------------------------------
Alcatel-Lucent and NXP Semiconductors signed an agreement
strengthening their collaboration in the framework of Alcatel-
Lucent's Unlimited Mobile TV solution.

This solution will allow the delivery of broadcast mobile TV in
the S-band (2.2GHz) based on the forthcoming DVB-SH standard.
NXP's reception modules family for UHF and L-Band will be
extended to the S-Band.  This will enable users to further
upgrade their existing media players, smartphones and other
portable or mobile devices to support digital Mobile TV
reception in the S-Band.

The delivery of the first release of NXP's S-Band-compatible
Radio Frequency (RF) chipset, currently under development, is
scheduled before June 2007.  Both companies agreed to develop
plans to market NXP DVB-SH chipsets in line with market
expectations.

Furthermore, based on their current contribution to the
definition of the DVB-SH Mobile TV standard in the framework of
the DVB Project, both companies will collaborate to enlarge the
ecosystem associated with the forthcoming standard through
selected co-marketing activities spanning the mobile industry
and the TV broadcast industry at large.

"We are happy to collaborate with Alcatel-Lucent to accelerate
the availability of chipsets in the S-Band to enable the advent
of mass market Mobile TV," GertJan Kaat, Senior Vice-President
and General Manager, Mobile & Personal Business Unit of NXP
Semiconductors declared.  "As one of the biggest customer-
focused semiconductor brands in the industry, NXP is committed
to deliver better sensory experiences for mobile communications
and to take advantage of the promising business potential
brought about by Alcatel-Lucent's solution in the S-Band."

"Alcatel-Lucent's Unlimited Mobile TV solution based on the
forthcoming DVB-SH standard is clearly gaining strong momentum.
We are happy to be in a position to profit from NXP's RF chipset
technology expertise and market-leading baseband performance,"
Olivier Coste, President of Alcatel-Lucent's mobile broadcast
activities, added.  "This strengthened partnership will allow us
to further enlarge the reach of our solution onto all types of
mobile terminals, thus enriching the Mobile TV users' experience
on a global basis."

                    About NXP Semiconductors

NXP is a top 10-semiconductor company founded by Philips more
than 50 years ago. Headquartered in the Netherlands, the company
has 37,000 employees working in 26 countries across the world.
NXP creates semiconductors, system solutions and software that
deliver better sensory experiences in mobile phones, personal
media players, TVs, set-top boxes, identification applications,
cars and a wide range of other electronic devices.

                     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.


ALCATEL-LUCENT: Inks Partnership Deal with Orange Business
----------------------------------------------------------
Alcatel-Lucent and Orange Business Services inked a global
agreement that enables enterprises around the world to harness
the power and economics of IP-based communications solutions as
part of an overall network and business transformation effort.

With mainstream adoption of IP technologies underway today,
industries are changing the way they use communications to
competitively transform their businesses.  Together, Orange and
Alcatel-Lucent are partnering to help drive this transformation.
Both companies will provide enterprises with a comprehensive set
of end-to-end business critical solutions, supported from design
to global implementation, which will enable businesses to
utilize the new technologies available to drive new business
opportunities, improve employee productivity and deliver
enhanced customer service.

Key services emphasized in this agreement include:

    * Business telephony services
    * IP VPNs
    * Fixed-mobile convergence solutions
    * Unified Communication software applications
    * Contact centers with multimedia traffic processing

Customers of Orange will have the choice to deploy end-to-end
Alcatel-Lucent technologies as either a traditional network that
is owned and operated by the enterprise, or as part of a Managed
Communications Services model where the technologies are owned
and managed by Orange as part of an innovative service offering.

                 About Orange Business Services

Orange Business Services represents the business communications
solutions and services provided by the France Telecom Group as
of June 1, 2006.  They were previously sold under the France
Telecom, Orange, Equant, Etrali, Almerys, EGT, Expertel
Consulting, France Telecom Intelmatique, SETIB and Solicia
brands.  The offers include converged voice, data and mobile
services as well as IT expertise and managed services, all
designed to transform business processes and improve
productivity. Orange Business Services is present in 166
countries and territories and serves customers in 220.

                    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: Acquires Five Class 92 Locomotives
----------------------------------------------------
Eurotunnel Group acquired five series 92 locomotives following a
tender offer launched by Eurostar, the owner of a fleet of this
type of engine.

The Class 92 locomotives are Tunnel compliant.  The value of the
acquisition is slightly above GBP2 million.

The company aimed to develop cross-Channel rail freight and to
make the most of its know how in the sector through its
subsidiary, Europorte 2.

These multi-current electric locomotives, built in the United
Kingdom, between 1993 and 1996, by Brush Traction and ABB
Transportation, which is now part of Bombardier, have a maximum
power of 5MW and a top speed of 140 km/h.

Following a major service, these engines will join Eurotunnel's
existing fleet of 57 shuttle pulling locomotives.

"It is our firm intention to contribute to the development of
cross-Channel rail freight through our subsidiary Europorte 2.
We will implement, with determination and pragmatism, a project,
which had not previously been brought to fruitation.  Europorte
2 will offer a simple and efficient service to cross-Channel
customers," Jacques Gounon, Eurotunnel and Europorte 2 chairman
commented.

                        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 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.


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


A & M KINZEL: Claims Registration Period Ends April 5
-----------------------------------------------------
Creditors of A & M Kinzel Maschinenbau GmbH have until April 5
to register their claims with court-appointed insolvency manager
Norbert Westhoff.

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

The meeting of creditors will be held at:

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

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

The insolvency manager can be contacted at:

         Dr. Norbert Westhoff
         Adenauerplatz 4
         33602 Bielefeld
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against A & M Kinzel Maschinenbau GmbH on Feb. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         A & M Kinzel Maschinenbau GmbH
         Attn: Max and Alfons Kinzel, Managers
         Eckendorfer Str. 198
         33609 Bielefeld
         Germany


BAUGESELLSCHAFT SCHILLERSTRASSE: Claims Filing Ends April 4
-----------------------------------------------------------
Creditors of Baugesellschaft Schillerstrasse Taucha GmbH have
until April 4 to register their claims with court-appointed
insolvency manager Lucas F. Floether.

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 Leipzig
         Hall 101
         First Floor
         Enforcement Court
         Bernhard Goering Strasse 64
         04275 Leipzig
         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. Lucas F. Floether
         Specks Hof Eingang C
         Nikolaistrasse 3-5
         04109 Leipzig
         Germany
         Tel: 0341/652200
         Fax: O341/65220111

The District Court of Leipzig opened bankruptcy proceedings
against Baugesellschaft Schillerstrasse Taucha GmbH on Feb. 6.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Baugesellschaft Schillerstrasse Taucha GmbH
         Attn: Hartmut Koerbis, Manager
         Schillerstrasse 81
         04425 Taucha
         Germany


DEUTSCHES ROTES: Claims Registration Period Ends March 26
---------------------------------------------------------
Creditors of Deutsches Rotes Kreuz Saarland Service GmbH have
until March 26 to register their claims with court-appointed
insolvency manager Peter Theiss.

Creditors and other interested parties are encouraged to attend
the meeting at 8:40 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 Saarbruecken
         Meeting Hall 13
         First Floor
         Branch Office Sulzbach
         Vopeliusstrasse 2
         66280 Sulzbach
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:10 a.m. on April 16, at the same venue.

The insolvency manager can be contacted at:

         Peter Theiss
         Dudweiler Strasse 4
         66111 Saarbruecken
         Germany
         Tel: (0681) 9404 180
         Fax: (0681) 9404 181

The District Court of Saarbruecken opened bankruptcy proceedings
against Deutsches Rotes Kreuz Saarland Service GmbH on Feb. 6.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Deutsches Rotes Kreuz Saarland Service GmbH
         Wilhelm-Heinrich-Strasse 9
         66117 Saarbruecken
         Germany


ERGO GMBH: Claims Registration Period Ends March 20
---------------------------------------------------
Creditors of Ergo GmbH have until March 20 to register their
claims with court-appointed insolvency manager Mathias Dorn.

Creditors and other interested parties are encouraged to attend
the meeting at 9:10 a.m. on April 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 Kempten
         Hall 144/I
         Residenzplatz 4-6
         87435 Kempten
         Germany

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

The insolvency manager can be contacted at:

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

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

The Debtor can be contacted at:

         Ergo GmbH
         Buergermeister-Nagele-Str. 3
         88171 Weiler
         Germany


ERICH GRECK: Claims Registration Period Ends March 6
----------------------------------------------------
Creditors of Erich Greck GmbH have until March 6 to register
their claims with court-appointed insolvency manager Michael
George.

Creditors and other interested parties are encouraged to attend
the meeting at 3:00 p.m. on March 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 Muehldorf a. Inn
         Hall 112
         Innstrasse 1
         Muehldorf a. Inn
         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:

         Michael George
         Beuerberger Strasse 14
         82515 Wolfratshausen
         Germany

The District Court of Muehldorf a. Inn opened bankruptcy
proceedings against Erich Greck GmbH on Feb. 5.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         Erich Greck GmbH
         Attn: Rolf Lippe, Manager
         Aussiger Strasse 25 f
         84478 Waldkraiburg
         Germany


FRITZ MORGENSTERN: Claims Registration Period Ends April 13
-----------------------------------------------------------
Creditors of Fritz Morgenstern GmbH have until April 13 to
register their claims with court-appointed insolvency manager
Ralf Hemmer.

Creditors and other interested parties are encouraged to attend
the meeting at 8:39 a.m. 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 Saarbruecken
         Meeting Hall 24
         Second Floor
         Branch Office Sulzbach
         Vopeliusstrasse 2
         66280 Sulzbach
         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:

         Ralf Hemmer
         Saarbruecker Strasse 58
         66292 Riegelsberg
         Germany
         Tel: (06806) 440 481
         Fax: (06806) 447 80

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

The Debtor can be contacted at:

         Fritz Morgenstern GmbH
         Attn: Fritz Morgenstern, Manager
         Willi-Graf-Strasse 14
         66538 Neunkirchen
         Germany


FUCHS IMMOBILIEN: Claims Registration Period Ends March 13
----------------------------------------------------------
Creditors of Fuchs Immobilien GmbH & Co. have until March 13 to
register their claims with court-appointed insolvency manager
Michael Wirth.

Creditors and other interested parties are encouraged to attend
the meeting at 10:10 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 Nuremberg
         Meeting Hall 152/I
         Flaschenhofstr. 35
         Nuremberg
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 10:00 a.m. on April 25, at the same venue.

The insolvency manager can be contacted at:

         Michael Wirth
         Martin-Luther-Str. 20
         91207 Lauf
         Germany
         Tel: 09123/9720-0
         Fax: 09123/9720-20

The District Court of Nuremberg opened bankruptcy proceedings
against Fuchs Immobilien GmbH & Co. on Feb. 7.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         Fuchs Immobilien GmbH & Co.
         Frankenwaldstr. 11
         95119 Naila
         Germany


GOLDLAND UHREN: Claims Registration Period Ends March 20
--------------------------------------------------------
Creditors of Goldland Uhren und Schmuck GmbH have until March 20
to register their claims with court-appointed insolvency manager
Steffen Goede.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 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 Regensburg
         Room 105
         Augustenstr. 5
         Regensburg
         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. Steffen Goede
         Peuntgasse 3
         90402 Nuremberg
         Germany
         Tel: 0911/279800
         Fax: 0911/27980-90

The District Court of Regensburg opened bankruptcy proceedings
against Goldland Uhren und Schmuck GmbH on Feb. 5.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Goldland Uhren und Schmuck GmbH
         Maximilianstr. 20
         93047 Regensburg
         Germany


HANS CHRISTEINICKE: Claims Registration Period Ends March 20
------------------------------------------------------------
Creditors of Hans Christeinicke GmbH have until March 20 to
register their claims with court-appointed insolvency manager
Thomas Kind.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on April 18, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

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

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

The Debtor can be reached at:

         Hans Christeinicke GmbH
         Attn: Juergen Roes und Ursula Tacke, Manager
         Gutenbergstr. 31
         21465 Reinbek
         Germany


HANSA DAEMMTECHNIK: Creditors' Meeting Slated for March 15
----------------------------------------------------------
The court-appointed insolvency manager for Hansa Daemmtechnik
GmbH, Ralph Buenning, will present his first report on the
Company's insolvency proceedings at a creditors' meeting at 9:50
p.m. on March 15.

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

         The District Court of Bremen
         Hall 115
         Ostertorstr. 25-31
         28195 Bremen
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:30 a.m. on June 14 at the same venue.

Creditors have until April 30 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Ralph Buenning
         Domshof 18-20
         28195 Bremen
         Germany
         Tel: 0421/3686-0
         Fax: 0421/3686-100
         E-Mail: InsOBremen@schubra.de
         Web: http://www.schubra.de/

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

The Debtor can be reached at:

         Hansa Daemmtechnik GmbH
         Kattenturmer Heerstr. 154
         28277 Bremen
         Germany

         Attn: August Justus Humann, Manager
         Im Ostetal 2 A
         27419 Sittensen
         Germany


HARRA GMBH: Claims Registration Ends April 2
--------------------------------------------
Creditors of Harra GmbH have until April 2 to register their
claims with court-appointed insolvency manager Manfred Dobler.

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

The meeting of creditors will be held at:

         The District Court of Esslingen
         Hall 1
         First Floor
         Eingang Strohstrasse
         Rit-terstr.5
         Esslingen
         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:

         Manfred Dobler
         Gansheidestr. 1
         70184 Stuttgart
         Tel: 0711/164330

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

The Debtor can be reached at:

         Harra GmbH
         Attn: Haris Radoncic, Manager
         Moerikestr. 2
         73728 Esslingen
         Germany


HARZER MODELLBAHNZENTRUM: Claims Registration Ends March 16
-----------------------------------------------------------
Creditors of Harzer Modellbahnzentrum Lautenthal GmbH have until
March 16 to register their claims with court-appointed
insolvency manager Wolfgang Eichel.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 13, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Goslar
         House 2
         Kaiserbleek 8
         38640 Goslar
         Germany

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

The insolvency manager can be reached at:

         Wolfgang Eichel
         Braunschweiger Str. 15a
         D 38723 Seesen
         Germany
         Tel: 05381/93 56-0
         Fax: 05381/93 56 44

The District Court of Goslar opened bankruptcy proceedings
against Harzer Modellbahnzentrum Lautenthal GmbH on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Harzer Modellbahnzentrum Lautenthal GmbH
         Attn: Peter Fiebach, Manager
         Wildemanner Strasse 9
         38685 Lautenthal
         Germany


HAUSBAU HERMANN: Claims Registration Ends March 15
--------------------------------------------------
Creditors of Hausbau Hermann GmbH have until March 15 to
register their claims with court-appointed insolvency manager
Thomas Kloeckner.

Creditors and other interested parties are encouraged to attend
the meeting at 8:50 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 Wolfratshausen
         Room 3/I
         Bahnhofstr. 18
         Wolfratshausen
         Germany

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

The insolvency manager can be reached at:

         Thomas Kloeckner
         Loisach-Ufer 23
         82515 Wolfratshausen
         Tel: 08171/99880
         Fax: 08171/998877

The District Court of Wolfratshausen opened bankruptcy
proceedings against Hausbau Hermann GmbH on Feb. 7.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Hausbau Hermann GmbH
         Glaswandstr. 8
         83671 Benediktbeuern
         Germany


HEINRICH KEUNECKE: Claims Registration Period Ends March 20
-----------------------------------------------------------
Creditors of Heinrich Keunecke GmbH have until March 20 to
register their claims with court-appointed insolvency manager
Rainer Eckert.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on April 17, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Gifhorn
         Hall 118
         Schlossgarten 4
         38518 Gifhorn
         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. jur. Rainer Eckert
         Arthur-Menge-Ufer 5
         30169 Hannover
         Germany
         Tel: (0511) 6262870
         Fax: (0511) 62628710

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

The Debtor can be reached at:

         Heinrich Keunecke GmbH
         Handorfer Weg 15
         31241 Ilsede
         Germany

         Attn: Thomas Lueer, Manager
         St. Hubertusweg 1
         38723 Seesen/Harz
         Germany


HEINZ WENDT: Creditors' Meeting Slated for March 15
---------------------------------------------------
The court-appointed insolvency manager for Heinz Wendt & Sohn
GmbH, Ralph Buenning, will present his first report on the
Company's insolvency proceedings at a creditors' meeting at 9:40
a.m. on March 15.

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

         The District Court of Bremen
         Hall 115
         Ostertorstr. 25-31
         28195 Bremen
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:30 a.m. on June 14 at the same venue.

Creditors have until April 30 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Ralph Buenning
         Domshof 18-20
         28195 Bremen
         Germany
         Tel: 0421/3686-0
         Fax: 0421/3686-100
         E-Mail: InsOBremen@schubra.de
         Web: http://www.schubra.de/

The District Court of Bremen opened bankruptcy proceedings
against Heinz Wendt & Sohn GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Heinz Wendt & Sohn GmbH
         Arberger Heerstrasse 87a
         28307 Bremen
         Germany

         Attn: Juergen Wendt, Manager
         Niedersachsenweg 28
         27299 Langwedel
         Germany


HERMANN WITZKE: Claims Registration Ends April 17
-------------------------------------------------
Creditors of Hermann Witzke GmbH & Co. Bau Kommanditgesellschaft
have until April 17 to register their claims with court-
appointed insolvency manager Volker Rodemeier.

Creditors and other interested parties are encouraged to attend
the meeting at 9:40 a.m. on May 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 of Wolfsburg
         Hall F
         Rothenfelder Str. 43
         38440 Wolfsburg
         Germany

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

The insolvency manager can be reached at:

         Volker Rodemeier
         Bahnhofstr. 17
         38442 Wolfsburg-Fallersleben
         Germany
         Tel: 05362/50 55 5-0
         E-mail: CGVR@wolfsburg.de

The District Court of Wolfsburg opened bankruptcy proceedings
against Hermann Witzke GmbH & Co. Bau Kommanditgesellschaft on
Feb. 2.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Hermann Witzke GmbH & Co. Bau Kommanditgesellschaft
         Benzstr. 7
         38446 Wolfsburg
         Germany


HIBAU GMBH: Claims Registration Ends March 30
---------------------------------------------
Creditors of HiBau GmbH Hildebrandt Bau GmbH have until March 30
to register their claims with court-appointed insolvency manager
Burghard Wegener.

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

The meeting of creditors will be held at:

         The District Court of Goettingen
         Hall B11
         Maschmuehlenweg 11
         37073 Goettingen
         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:

         Burghard Wegener
         Obere Karspuele 36
         D 37073 Goettingen
         Germany
         Tel: 0551/5085920
         Fax: 5085921

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

The Debtor can be reached at:

         HiBau GmbH Hildebrandt Bau GmbH
         Carl-Giesecke-Str. 4-6
         37079 Goettingen
         Germany


HISTORISCHES WEINHAUS: Claims Registration Period Ends March 14
---------------------------------------------------------------
Creditors of Historisches Weinhaus Woehler Gastro GmbH have
until March 14 to register their claims with court-appointed
insolvency manager Bettina Schmudde.

Creditors and other interested parties are encouraged to attend
the meeting at 11:15 p.m. on April 23, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Schwerin
         Hall 7
         Demmlerplatz 14
         19055 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:

         Bettina Schmudde
         Jungfernstieg 51
         20354 Hamburg
         Germany

The District Court of Schwerin opened bankruptcy proceedings
against Historisches Weinhaus Woehler Gastro GmbH on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Historisches Weinhaus Woehler Gastro GmbH
         Attn: Guenter Juergen Bahr, Manager
         Puschkinstrasse 26
         19055 Schwerin
         Germany


ICELINE GASTRO: Claims Registration Period Ends March 20
--------------------------------------------------------
Creditors of Iceline Gastro GmbH have until March 20 to register
their claims with court-appointed insolvency manager Christopher
Seagon.

Creditors and other interested parties are encouraged to attend
the meeting at 1:00 p.m. on April 4, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Christopher Seagon
         Blumenstr. 17
         69115 Heidelberg
         Germany
         Tel: (06 2 21) 91 18 0

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

The Debtor can be reached at:

         Iceline Gastro GmbH
         Attn: Ursula Tacke, Manager
         Auf der Breit 11
         76227 Karlsruhe
         Germany


K U. M HAUSTECHNIK: Claims Registration Ends March 26
-----------------------------------------------------
Creditors of K u. M Haustechnik GmbH have until March 26 to
register their claims with court-appointed insolvency manager
Goerge Scheid.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on April 24, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Leipzig
         Hall 145
         First Floor
         Enforcement Court
         Bernhard Goering Strasse 64
         04275 Leipzig
         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:

         Goerge Scheid
         Jacobstrasse 25
         04105 Leipzig
         Germany
         Tel: 0341/702520
         Fax: 0341/7025244
         E-mail: Sozietaet@Voigt-Scheid.de

The District Court of Leipzig opened bankruptcy proceedings
against K u. M Haustechnik GmbH on Feb. 7.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         K u. M Haustechnik GmbH
         Attn: Christian Marks, Manager
         Fabrikstrasse 4
         04435 Schkeuditz
         Germany


KINZEL SIEBDRUCKMASCHINEN: Claims Registration Ends April 5
-----------------------------------------------------------
Creditors of Kinzel Siebdruckmaschinen GmbH have until April 5
to register their claims with court-appointed insolvency manager
Dr. Norbert Westhoff.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on April 26, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of 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:

         Dr. Norbert Westhoff
         Adenauerplatz 4
         33602 Bielefeld
         Germany

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

The Debtor can be reached at:

         Kinzel Siebdruckmaschinen GmbH
         Attn: Alfons Kinzel, Manager
         Eckendorfer Str. 198
         33609 Bielefeld
         Germany


KITTY-YO MUSICPRODUCTIONS: Claims Registration Ends May 3
---------------------------------------------------------
Creditors of Kitty-Yo Musicproductions GmbH have until May 3 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 9:00 a.m. on July 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 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 Kitty-Yo Musicproductions GmbH on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Kitty-Yo Musicproductions GmbH
         Greifswalder Str. 29
         10405 Berlin
         Germany


LANDSCHAFTSPFLEGE A. L.: Claims Registration Ends March 26
----------------------------------------------------------
Creditors of Landschaftspflege A. L. Oberberg GmbH have until
March 26 to register their claims with court-appointed
insolvency manager Dr. Joerg Bornheimer.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 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 Cologne
         Meeting Hall 1240
         12th 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. Joerg Bornheimer
         Sporergasse 7
         50667 Cologne
         Germany
         Tel: 0221-2726120
         Fax: +4922127261299

The District Court of Cologne opened bankruptcy proceedings
against Landschaftspflege A. L. Oberberg GmbH on Jan. 29.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Landschaftspflege A. L. Oberberg GmbH
         Muehlenstr. 8
         51702 Bergneustadt
         Germany

         Attn: Aloys Wilhelm Lintener, Manager
         Piener Weg 9
         51647 Gummersbach
         Germany


M & K KARGUTH: Claims Registration Ends March 12
------------------------------------------------
Creditors of M & K Karguth GmbH have until March 12 to register
their claims with court-appointed insolvency manager Friedemann
U. Schade.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 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 Gifhorn
         Hall 114
         Schlossgarten 4
         38518 Gifhorn
         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:

         Friedemann U. Schade
         Seelhorststrasse 64
         30175 Hanover
         Germany
         Tel: 0511/515122-0
         Fax: 0511/515122-19
         Web site: http://www.kuebler-gbr.de/

The District Court of Gifhorn opened bankruptcy proceedings
against M & K Karguth GmbH on Feb. 5.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         M & K Karguth GmbH
         Kurt Karguth, Manager
         Schopenhauerweg 5
         31319 Sehnde
         Germany


MINTEC SCHLIEKAU: Claims Registration Period Ends March 23
----------------------------------------------------------
Creditors of Mintec Schliekau GmbH & Co. KG have until March 23
to register their claims with court-appointed insolvency manager
Andreas Wille.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 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 Pforzheim
         Hall 303
         Third Floor
         Mannheimer Str. 17
         75179 Pforzheim
         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. Andreas Wille
         Karlsruher Str. 34
         75179 Pforzheim
         Germany

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

The Debtor can be contacted at:

         Mintec Schliekau GmbH & Co. KG
         Attn: Bernhard Schliekau, Manager
         Rotestr. 24
         75334 Straubenhardt
         Germany


MOTORRADHAUS MAIER-REHM: Creditors Must File Claims by April 11
---------------------------------------------------------------
Creditors of Motorradhaus Maier-Rehm GmbH have until April 11 to
register their claims with court-appointed insolvency manager
Peter Scholl.

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 Meiningen
         Meeting Hall A 0105
         Lindenallee 15
         Meiningen
         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:

         Peter Scholl
         Andreasstr. 39
         99084 Erfurt
         Germany

The District Court of Meiningen opened bankruptcy proceedings
against Motorradhaus Maier-Rehm GmbH on Feb. 6.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Motorradhaus Maier-Rehm GmbH
         Attn: Lutz Maier-Rehm, Manager
         Rennbahn 29
         99817 Eisenach
         Germany


NOBIS MEDIA: Creditors Must Register Claims by March 13
-------------------------------------------------------
Creditors of Nobis Media GmbH have until March 13 to register
their claims with court-appointed insolvency manager
Michael Foehlisch.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. 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 Reinbek
         Parkallee 6
         21465 Reinbek
         Germany

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

The insolvency manager can be reached at:

         Michael Foehlisch
         Hamburger Str. 208
         22083 Hamburg

The District Court of Reinbek opened bankruptcy proceedings
against Nobis Media GmbH on Feb. 7.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Nobis Media GmbH
         Attn: Jens-Holger Lemke, Manager
         Ahrensburger Redder 33 a
         22926 Ahrensburg
         Germany


PETER MECKERT: Creditors Must Register Claims by March 30
---------------------------------------------------------
Creditors of Peter Meckert GmbH have until March 30 to register
their claims with court-appointed insolvency manager
Christoph Henningsmeier.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on April 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 Hamburg
         Hall B 405
         Fourth Floor Annex
         Civil Justice Bldg.
         Sievkingplatz 1
         20355 Hamburg
         Germany

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

The insolvency manager can be reached at:

         Christoph Henningsmeier
         Osdorfer Landstrasse 230
         22549 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against Peter Meckert GmbH on Feb. 5.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Peter Meckert GmbH
         Muehlenhagen 34
         20539 Hamburg
         Germany


RCF REPAIR: Creditors' Meeting Slated for March 16
--------------------------------------------------
The court-appointed insolvency manager for RCF Repair Center
Fuerstenfeldbruck GmbH, Michael Jaffe, will present his first
report on the Company's insolvency proceedings at a creditors'
meeting at 9:00 a.m. on March 16.

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

         The District Court of Munich
         Meeting Room 102
         Infanteriestr. 5
         80097 Munich
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:00 a.m. on May 24 at the same venue.

Creditors have until April 15 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Dr. Michael Jaffe
         Franz-Joseph-Str. 8
         80801 Munich
         Germany

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

The Debtor can be reached at:

         RCF Repair Center Fuerstenfeldbruck GmbH
         Bahnhofstr. 26
         82256 Fuerstenfeldbruck
         Germany


SE.LL-MARKETING GMBH: Creditors Must Register Claims by April 5
---------------------------------------------------------------
Creditors of SE.LL-Marketing GmbH & Co. KG have until April 5 to
register their claims with court-appointed insolvency manager
Jochen Schnake.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. 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 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:

         Jochen Schnake
         Ravensberger Str. 11 u. 12
         33824 Werther
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against SE.LL-Marketing GmbH & Co. KG on Feb. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         SE.LL-Marketing GmbH & Co. KG
         Sunderweg 4
         33649 Bielefeld
         Germany

         Attn: Christof Sander, Manager
         Am Muehlenbach 5
         33719 Bielefeld
         Germany


STA-MA APPARATEBAU: Creditors Must Register Claims by March 21
--------------------------------------------------------------
Creditors of STA-MA Apparatebau GmbH have until March 21 to
register their claims with court-appointed insolvency manager
Dr. Frank Kebekus.

Creditors and other interested parties are encouraged to attend
the meeting at 11:30 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 Duisburg
         Hall C205
         Second Floor
         Kardinal-Galen-Strasse 124-132
         47058 Duisburg
         Germany

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

The insolvency manager can be reached at:

         Frank Kebekus
         Carl-Theodor-Str. 1
         40213 Duesseldorf
         Germany

The District Court of Duisburg opened bankruptcy proceedings
against STA-MA Apparatebau GmbH on Feb. 7.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         STA-MA Apparatebau GmbH
         Theodor-Heuss-Str. 43
         47167 Duisburg
         Germany

         Attn: Winfired Reppermund, Manager
         Hoefmannstr. 46 a
         46045 Oberhausen
         Germany


STERN LOGISTIK: Claims Registration Ends April 11
-------------------------------------------------
Creditors of Stern Logistik GmbH have until April 11 to register
their claims with court-appointed insolvency manager Thomas
Farian.

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 Ludwigsburg
         Hall 2008
         Palace Schuetz
         Schorndorfer Str. 28
         71638 Ludwigsburg
         Germany

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

The insolvency manager can be reached at:

         Thomas Farian
         Stuttgarter Strasse 78
         71638 Ludwigsburg
         Germany
         Tel: 07141/95470

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

The Debtor can be reached at:

         Stern Logistik GmbH
         Attn: Nuelifer Yilmaz, Manager
         Bahnhofstr. 1
         71691 Freiberg
         Germany


SUNWIND GMBH: Claims Registration Ends March 21
-----------------------------------------------
Creditors of SunWind GmbH have until March 21 to register their
claims with court-appointed insolvency manager Axel Schwentker.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 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 of Duisburg
         Hall C315
         3rd Floor
         Kardinal-Galen-Strasse 124-132
         47058 Duisburg
         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 Schwentker
         Lindnerstrasse 165
         46149 Oberhausen
         Germany

The District Court of Duisburg opened bankruptcy proceedings
against SunWind GmbH on Feb. 7.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         SunWind GmbH
         Kantstrasse 17
         46145 Oberhausen
         Germany

         Attn: Johannes Kerstges, Manager
         Muldenstrasse 13
         46145 Oberhausen
         Germany


T & O DREH: Creditors' Meeting Slated for March 16
--------------------------------------------------
The court-appointed insolvency manager for T & O Dreh- und
Frastechnik GmbH, Dirk Wittkowski, will present his first report
on the Company's insolvency proceedings at a creditors' meeting
at 8:50 a.m. on March 16.

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

         The District Court of Charlottenburg
         Second Stock Hall 218
         Amtsgerichtsplatz 1
         14057 Berlin
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:20 a.m. on July 6 at the same venue.

Creditors have until May 1 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Dr. Dirk Wittkowski
         Kirchblick 11
         14129 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against T & O Dreh- und Frastechnik GmbH on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         T & O Dreh- und Frastechnik GmbH
         Holzhauser Str. 158 a
         13509 Berlin
         Germany


T-ICON GMBH: Claims Registration Ends February 28
-------------------------------------------------
Creditors of T-icon gmbh have until Feb. 28 to register their
claims with court-appointed insolvency manager Rainer Michael
Bahr.

Creditors and other interested parties are encouraged to attend
the meeting at 10:50 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 Hannover
         Hall 226
         Second Upper Floor
         Service Bldg.
         Hamburger Allee 26
         30161 Hannover
         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 Michael Bahr
         Seestr. 12
         30171 Hannover
         Germany
         Tel: 0511 8503058-0
         Fax: 0511 8503058-8

The District Court of Hannover opened bankruptcy proceedings
against T-icon gmbh on Feb. 2.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         T-icon gmbh
         Attn: Aydin Demir, Manager
         Davenstedter Str. 100
         30453 Hannover
         Germany


TIBI GMBH: Claims Registration Ends March 27
--------------------------------------------
Creditors of Tibi GmbH have until March 27 to register their
claims with court-appointed insolvency manager Heiko Fialski.

Creditors and other interested parties are encouraged to attend
the meeting at 10:50 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 Lueneburg
         Hall 302
         Ochsenmarket 3
         21335 Lueneburg
         Germany

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

The insolvency manager can be reached at:

         Heiko Fialski
         Raboisen 38
         20095 Hamburg
         Germany
         Tel: 040 / 33 44 6 - 0
         Fax: 040 / 33 44 61 11

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

The Debtor can be reached at:

         Tibi GmbH
         Gudestr. 9
         29525 Uelzen
         Germany

         Attn: Ilia Papainis, Manager
         Bramfelder Chaussee 159
         22177 Hamburg
         Germany


TIGER GEBAUDEMANAGEMENT: Claims Registration Period Ends April 1
----------------------------------------------------------------
Creditors of Tiger Gebaudemanagement GmbH have until April 1 to
register their claims with court-appointed insolvency manager
Oliver Schartl.

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

The meeting of creditors will be held at:

         The District Court of Munich
         Meeting Room 102
         Infanteriestr. 5
         80097 Munich
         Germany

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

The insolvency manager can be reached at:

         Oliver Schartl
         Schwanthalerstr. 32
         80336 Munchen
         Germany
         Tel: 089-545110
         Fax: 089-54511-444

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

The Debtor can be reached at:

         Tiger Gebaudemanagement GmbH
         Attn: Muzaffer Kaplan, Manager
         Stadionstr. 144
         85716 Unterschleissheim
         Germany


TOOLEE GMBH: Claims Registration Period Ends April 6
----------------------------------------------------
Creditors of Toolee GmbH have until April 6 to register their
claims with court-appointed insolvency manager Dr. Winfrid
Andres.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 a.m. 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 Dortmund
         Hall 3.201
         Second Floor
         Gerichtsplatz 1
         44135 Dortmund
         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. Winfrid Andres
         Neuer Zollhof 3
         40221 Dusseldorf
         Germany

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

The Debtor can be reached at:

         Toolee GmbH
         Rheinlanddamm 10
         44139 Dortmund
         Germany

         Attn: Dominic Baehr, Manager
         Zum Ihnedieck 8
         44265 Dortmund
         Germany


TOOLEE VERWALTUNGSGESELLSCHAFT: Claims Registration Ends April 6
----------------------------------------------------------------
Creditors of Toolee Verwaltungsgesellschaft mbH, have until
April 6 to register their claims with court-appointed insolvency
manager Dr. Winfrid Andres.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 a.m. 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 Dortmund
         Hall 3.201
         Second Floor
         Gerichtsplatz 1
         44135 Dortmund
         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. Winfrid Andres
         Neuer Zollhof 3
         40221 Dusseldorf
         Germany

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

The Debtor can be reached at:

         Toolee Verwaltungsgesellschaft mbH
         Rheinlanddamm 10
         44139 Dortmund
         Germany

         Attn: Dominic Baehr, Manager
         Zum Ihnedieck 8
         44265 Dortmund
         Germany


TS OVERSEAS: Claims Registration Period Ends March 1
----------------------------------------------------
Creditors of TS Overseas GmbH have until March 1 to register
their claims with court-appointed insolvency manager Volker
Heynck.

Creditors and other interested parties are encouraged to attend
the meeting at 11:05 a.m. on March 22, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court Muenster
         Meeting Hall 112 B
         First Floor
         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 reached at:

         Volker Heynck
         Bocholter Str. 48
         46325 Borken
         Germany
         Tel: 02861/902787-0
         Fax: +49286190278799

The District Court of Munster opened bankruptcy proceedings
against TS Overseas GmbH on Feb. 5.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         TS Overseas GmbH
         Neumhlenallee 145
         46325 Borken
         Germany

         Attn: Willi Baumeister, Manager
         Christine-Teusch-Weg 39
         48653 Coesfeld
         Germany


WERNER LOGISTIK: Claims Registration Period Ends April 17
---------------------------------------------------------
Creditors of Werner Logistik und Montagetechnik GmbH have until
April 17 to register their claims with court-appointed
insolvency manager Bjorn von Gosseln.

Creditors and other interested parties are encouraged to attend
the meeting at 2:00 p.m. on May 15, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Hanover
         Hall 226
         Second Floor
         Service Bldg.
         Hamburger Allee 26
         30161 Hanover
         Germany

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

The insolvency manager can be reached at:

         Bjorn von Gosseln
         Oskar-Winter-Str. 8
         30161 Hanover
         Tel: 0511 6968460
         Fax: 0511 69684679

The District Court of Hanover opened bankruptcy proceedings
against Werner Logistik und Montagetechnik GmbH on Feb. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Werner Logistik und Montagetechnik GmbH
         Opelstr. 36-40
         30916 Isernhagen
         Hanover
         Germany


=============
I R E L A N D
=============


EIRLES FOUR: Fitch Cuts Collateralized Debt Rating to B
-------------------------------------------------------
Fitch Ratings downgraded Eirles Four Ltd. Series 42
collateralized debt obligation notes due July 2013 to 'B' from
'B+' and assigned a Distressed Recovery rating of 'DR1'.  DR
ratings are assigned to all collateralized debt obligation
classes, which are downgraded to 'B' or below.

The downgrade is a result of increased exposure to speculative-
grade names referenced in the portfolio.  Currently, the
portfolio references 19.5% speculative-grade names compared to
16% at the rating action in July 2006 and 5% in July 2003 when
the transaction closed.  In addition, 25% of the current
speculative-grade names are rated 'B' or below.

This decline in credit quality is compounded by the remaining
six-year risk horizon until maturity.  Industry concentration is
also a concern since 20% of the speculative-grade names are
concentrated within the automobile sector including one 'CCC'
name.

Current credit enhancement provides sufficient protection to
withstand approximately four additional defaults with relatively
low recoveries before a loss would be incurred; however, around
5% of the portfolio is rated 'B' or below.  In addition, the
average portfolio credit quality has deteriorated to a Weighted
Average Rating Factor of 5.58 from a WARF of 5.23 in July 2006
and a WARF of 3.47 in July 2003.

The Distressed Recovery rating of 'DR 1' signals very strong
recovery prospects at 90-100%.  DR ratings are designed to
estimate recoveries on a forward-looking basis assuming a mild
default stress while giving credit for all projected cash flows
received by the bond and discounted to account for the time
value of money.

The issuer, Eirles Four Ltd., is a special purpose vehicle
incorporated with limited liability in Ireland.  It currently
provides protection to Deutsche Bank on a US$735 million
reference portfolio of 99 reference entities.  The reference
portfolio amount has decreased from the initial US$750 million
following the credit events on Parmalat and Delphi Corp.


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


ALITALIA SPA: No Severance Package for Outgoing Chief Executive
---------------------------------------------------------------
The employment contract of Giancarlo Cimoli, chairman and chief
executive of Alitalia S.p.A., does not contain a golden
handshake clause, Agenzia Giornalistica Italiana reports, citing
Finance Minister Tommaso Padoa-Schioppa.

"Cimoli has a contract with Alitalia and the shareholder is not
willing to respect this contact, which is of a private nature,"
Mr. Padoa-Schioppa said adding that the contract "has no
specific kinds of golden handshake."

A golden handshake is a clause in an employment contract that
provides a high-ranking executive with a significant severance
package in the case that he loses his job through firing,
restructuring, or even scheduled retirement.

In a TCR-Europe report on Feb. 19, the Italian government has
decided to replace Giancarlo Cimoli as chairman and chief
executive of Alitalia.  The government, represented by the
Treasury Ministry, effectively removed Alitalia's current head
by proposing a new board that does not include Mr. Cimoli.  The
ministry nominated Berardino Libonati, Aristide Police, Giovanni
Sabatini, Luciano Vannozzi and Carlo Santini to Alitalia's new
board, Reuters says.  The government also nominated Mr. Libonati
as chairman.  Shareholders will meet tomorrow, Feb. 22, to
confirm the nominations.

Mr. Padoa-Schioppa said he asked Mr. Cimoli "to stay for this
time of change even if he would have preferred to leave," adding
that he has "released Mr. Cimoli from this commitment."

Mr. Padoa-Schioppa, however, noted that despite criticisms on
the present management, Alitalia's outgoing chief attributed the
success of the carrier's recapitalization to Mr. Cimoli, AGI
relays.

                       Government Stake

Mr. Padoa-Schioppa, meanwhile, revealed the Italian government
has yet to decide the definite stake it would retain in
Alitalia, AGI relates.  Italy currently controls a 49.9% stake
in the carrier and is selling at least 30.1% holdings.

In a TCR-Europe report on Feb. 19, the Italian government has
chosen five interested parties to participate in the second
round of bidding process for its 30.1% stake in Alitalia S.

The Economy Ministry, advised by Merrill Lynch and Chiomenti
Studio Legale, short-listed these interested parties for the
next phase of the tender:

   -- UBM, a unit of Unicredito Italiano S.p.A.,

   -- Texas Pacific Group Europe LLP,

   -- AP Holding S.p.A., owned by AirOne chief Carlo Toto,

   -- a consortium of Management & Capitali S.p.A., Cerberus
      European Investments LLC, ELQ Investors Ltd. and
      Lefinalc S.p.A., and

   -- MatlinPatterson Global Advisers LLC,

They have until mid-April to submit non-binding offers.

Italy's Ministry of Economy and Finance invited interested
parties to submit a non-binding offer for around 30.1% to 49.9%
of Alitalia's capital and 1,207,147,404 convertible bonds of the
carrier's 7.5% 2002-2010 debenture loan.  The sale will take
place through a competitive procedure involving direct
negotiations with potential buyers.

According to the Ministry, potential buyers will be selected
based on the economic terms of the offers received and an
analysis of the business plans.  The Ministry will also examine
the compatibility of the offers and business plans with
Alitalia's restructuring, development and relaunch objectives.

The Ministry also outlined mandatory commitments for the buyer
to:

   -- keep at least a 30.1% stake in Alitalia until the business
      plan is successfully carried out:

   -- safeguard Alitalia's national identity; and

   -- guarantee the quality and quantity of services offered and
      coverage of the territory.

                         About Alitalia

Headquartered in Rome, Italy, Alitalia S.p.A. --
http://www.alitalia.it/-- provides air travel services for
passengers and air transport of cargo on national, international
and inter-continental routes.  In Europe, the company reaches 45
airports, with 1,238 flights per week.  In the rest of the
world, the Alitalia Group's aircrafts operate out of 32 airports
with 255 flights per week.  The Alitalia Group network is
centered on two main airports, Rome Fiumicino and Milan
Malpensa, and includes, as of Sept. 30, 2006, an operating fleet
of 182 aircrafts.  The Italian government owns 49.9% of
Alitalia.

Despite a EUR1.4 billion state-backed restructuring in 1997,
Alitalia posted net losses of EUR256 million and EUR907 million
in 2000 and 2001 respectively.  Alitalia registered
EUR93 million in net profits in 2002 after a EUR1.4 billion
capital injection.  The carrier booked consecutive annual net
losses of EUR520 million in 2003, EUR813 million in 2004, and
EUR168 million in 2005.


TISCALI SPA: Posts 44% Group EBITDA Hike to EUR100.1 Million
------------------------------------------------------------
Tiscali Group disclosed of its pro-forma preliminary results for
the year ending Dec. 31, 2006, which confirm the financial
targets delivered to the market set on October 2006.

In detail, full year 2006 revenues of the Group stood at
EUR678.5 million, up 28% on equal perimeter versus full year
2005 and broadly consistent with the business plan targets.
Revenues of EUR445 million came from the U.K. subsidiary, up 37%
compared to 2005.  In 2006 revenues in Italy stood at
EUR217 million, up 15% compared to 2005.

The Gross Operating Result (EBITDA) of the Group for 2006
outperformed the business plan targets and stood at
EUR100.1 million, up 44% compared to 2005.  EBITDA margin
increases from 13% to 15% of revenues.

Tiscali Italy closed 2006 with EBITDA at EUR39.7 million, up 40%
compared to 2005.

Tiscali U.K.'s EBITDA for 2006 stood at EUR80.8 million, up 14%
compared to 2005.  Profitability of the U.K. subsidiary is also
affected by Video Networks consolidation, whose synergies will
have an impact starting from year 2007.

As of Dec. 31 2006, Tiscali Group had around 3.5 million active
users, of which 1.9 million were broadband customers (up 50%
compared to 2005), in line with the targets of the business
plan.  Total direct customers (ULL) were five fold the same
period, reaching about 584,000 unbundling customers.

Investments during 2006, over EUR200 million, allowed to reach
and activate about 420 sites in the United Kingdom (34% of the
market) and about 440 sites in Italy (30% of the market).

The reported figures are preliminary results still subject to
potential changes by Tiscali's Board of Directors called to
approve the draft of the 2006 Annual Financial Statement on
March 20.

As announced during the business plan presentation, Tiscali U.K.
revealed its IPTV commercial offer, available from the 1st of
March and on Tiscali U.K.'s entire unbundled local loop network
by the end of 2008.  The offer -- 19.99 pounds per month for the
'triple play' package -- reflects Tiscali's philosophy, which
considers the TV offer as complementary to the broadband, access
and voice services, with the chance for users to choose premium
contents in addition to the base package.

                          New Financing

After conclusion of the disposal process with the sale of
Germany assets for over EUR48 million, and after payment of all
existing bonds with the reimbursement last September of the
Equity-Linked bond, Tiscali Group has signed the credit line
agreement granted by Banca Intesa Sanpaolo for EUR280 million,
which will be mostly used to repay the existing Silver Point
financing. Initial rate, at Euribor + 250 base points, and the
other conditions of the credit line granted by Banca Intesa
Sanpaolo, substantially improve the terms of the current
facility granted by Silver Point.  Drawdown is scheduled by the
end of February 2007.

Moreover, Tiscali Group has completed the operation of "sale and
lease back" of the building located in Cagliari, headquarter of
the Group.  On the bases of this operation, Tiscali Group gives
property of its headquarter in Cagliari to a pool of lenders,
including Centro Leasing, Intesa Leasing and Locat, for a total
consideration of EUR61 million, keeping its use and paying an
annual rent for 15 years, calculated at about Euribor rate +140
base points.

Tiscali Group at the end of the 15-year period can buy back the
building. After the mortgage re-payment and other costs, the
operation generates net cash for the Group of EUR27 million.
Consultbank and Kyberlease srl acted as advisers to Tiscali.

                        About Tiscali

Headquartered in Cagliari, Italy, Tiscali S.p.A. --
http://www.tiscali.com/-- offers Internet access in the
country.  The group also operates in other European countries,
serving more than seven million subscribers, of which over 1.5
million are broadband users.  It has sold non-core assets to
raise money to cover a EUR250 million bond that matured in July.
Former chairman and founder Renato Soru owns almost 30% of the
company.

As reported in the TCR-Europe on Oct. 13, 2006, Tiscali's Board
of Directors of Tiscali approved a new three-year plan for 2007-
2010, which calls for the concentration of its core business in
Italy and in the United Kingdom.

                          *     *     *

In a TCR-Europe report on Dec. 1, 2006, Fitch Ratings placed
Italy-based Tiscali S.p.A.'s Issuer Default rating of CCC on
Rating Watch Positive.

Upon receipt of EUR255 million in proceeds from the sale of its
Tiscali Netherlands subsidiary, expected to occur on first
quarter 2007, the agency anticipates that the Rating watch will
be resolved and the IDR will be upgraded to B- from CCC.  At the
same time, the agency has affirmed the Short-term rating at C
and simultaneously withdrawn it.


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


AKJOL JSC: Creditors Must File Claims by April 6
------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region has declared JSC "AKJOL" insolvent on
Dec. 20, 2006.

Creditors have until April 6 to submit written proofs of claim
to:

         The Specialized Inter-Regional Economic Court of South
         Kazakhstan Region
         Saryagashsky District
         South Kazakhstan Region
         Kazakhstan
         Ten: 8 (233) 4-04-51
              8 701 751 98-65


AK-JOL LLP: Proof of Claim Deadline Slated for March 30
-------------------------------------------------------
The Specialized Inter-Regional Economic Court of North
Kazakhstan Region has declared LLP Ak-Jol insolvent on Jan. 10.

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

         Department of Agriculture
         Kazakhstana Str. 38
         Konstitutsiya
         Petropavlovsk
         North Kazakhstan Region
         Kazakhstan


ARMAN-2000 LLP: Creditors' Claims Due April 6
---------------------------------------------
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Arman-2000 insolvent.

Creditors have until April 6 to submit written proofs of claim
to:

         The Specialized Inter-Regional Economic Court of
         Kostanai
         Fourth Floor
         Gogol Str. 177a
         Kostanai
         Kazakhstan


EAST VIEW: Proof of Claim Deadline Slated for April 6
-----------------------------------------------------
LLP East View Trade House has declared insolvency.

Creditors have until April 6 to submit written proofs of claim
to:

         LLP East View Trade House
         Buhar Jyrau ave. 32/1-52
         Almaty
         Kazakhstan


GARANT LLP: Creditors Must File Claims by March 30
--------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda has
declared LLP Garant (RNN 301000007291) insolvent.

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

         The Specialized Inter-Regional Economic Court of
         Karaganda
         Abai Str. 29-542
         Saran
         Karaganda
         Kazakhstan


GARSHINO LLP: Creditors' Claims Due March 30
--------------------------------------------
The Specialized Inter-Regional Economic Court of North
Kazakhstan Region has declared LLP Garshino insolvent on
Jan. 4.

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

         Department of Agriculture
         Kazakhstana Str. 38
         Konstitutsiya
         Petropavlovsk
         North Kazakhstan Region
         Kazakhstan


JANASTROY LLP: Claims Filing Period Ends March 30
-------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region has declared LLP Janastroy insolvent on
Dec. 27, 2006.

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

  The Specialized Inter-Regional Economic Court of
  South Kazakhstan Region
  Ilyaev Str. 24
  Shymkent
  South Kazakhstan Region
            Kazakhstan


KAZKOMMERTSBANK: Fitch Affirms BB+ Ratings with Positive Outlook
----------------------------------------------------------------
Fitch Ratings affirmed Kazakhstan-based Kazkommertsbank's
ratings at foreign currency Issuer Default 'BB+', Short-term
foreign currency 'B', local currency Issuer Default 'BBB-',
Short-term local currency 'F3', Individual 'C/D' and Support
'3'.

The Outlook on the foreign currency Issuer Default rating
remains Positive and that on the local currency IDR Stable.

The Issuer Default, Short-term and Support ratings reflect the
moderate probability of support being forthcoming, in case of
need, from the Kazakhstani authorities.  This is based on the
bank's substantial domestic franchise, and takes into account
the authorities' ability to provide support, as reflected in the
sovereign IDRs of foreign currency 'BBB' and local currency
'BBB+'.  The Positive Outlook on KKB's foreign currency IDR
reflects that on the sovereign foreign currency IDR.  The Stable
Outlook on the local currency IDR reflects the fact that, given
Fitch's current view of the authorities' propensity to support
the country's largest banks, the support floor for the bank's
IDRs is not expected to go higher than 'BBB-', even should the
sovereign be upgraded.

The Individual rating reflects the risks inherent in the bank's
rapid loan growth, which was particularly strong in fourth
quarter of 2006 following the receipt of new capital.  It also
reflects KKB's high construction sector and individual borrower
concentrations and potential structural risks stemming from the
high reliance on external funding.  However, the rating also
considers KKB's strong franchise, long track record of sound
performance, reasonable asset quality to date and satisfactory
liquidity and capitalization.

A reduction in loan concentrations and a moderation of growth
rates would be positive for KKB's stand-alone credit strength,
while higher loan impairment or further margin pressure would be
negative.  That being said, Fitch views any changes in the
Individual rating as unlikely in the near term.

KKB is one of the two largest commercial banks in Kazakhstan,
with a core franchise in the large corporate segment.  It is now
trying to increase the proportion of SME and retail business.  A
Kazakhstani businessman, together with associates, holds a large
minority stake.  Participation of portfolio investors is also
substantial.


STROY TORG: Claims Registration Ends April 6
--------------------------------------------
LLP Astana Stroy Torg has declared insolvency.  Creditors have
until April 6 to submit written proofs of claim to:

         LLP Astana Stroy Torg
         39th. Str. 743
         Micro District 15
         Astana
         Kazakhstan


TECHCOMBASIS LLP: Claims Registration Ends March 30
---------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region has declared LLP Techcombasis insolvent on
Aug. 11, 2006.

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

         The Specialized Inter-Regional
         Economic Court of South Kazakhstan Region
         Ilyaev Str. 24
         Shymkent
         South Kazakhstan Region
         Kazakhstan


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


CENTRAL ASIAN: Claims Filing Period Ends April 6
------------------------------------------------
LLC Central Asian Investment Company has declared insolvency.
Creditors have until April 6 to submit written proofs of claim
to:

         LLC Central Asian Investment Company
         Free Economic Zone Bishkek
         Akchy
         Bishkek, Kyrgyzstan


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


AUTOCRANES KRAST: Creditors Must File Claims by April 3
-------------------------------------------------------
Creditors of OJSC Stavropolskiy Factory of Autocranes Krast (TIN
2636015180, OGRN 1022601955640) have until April 3 to submit
written proofs of claim to:

         D. Eroshkin, Insolvency Manager
         Office 7
         Mira Str. 460/3
         355029 Stavropol
         Russia

The Arbitration Court of Stavropol commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A63-2355/05-S5.

The Court is located at:

         The Arbitration Court of Stavropol
         Mira Str. 458 b
         Stavropol
         Russia

The Debtor can be reached at:

         OJSC Stavropolskiy Factory of Autocranes Krast
         Lenina Str. 419
         355000 Stavropol
         Russia


BOLSHEVIK OJSC: Penza Bankruptcy Hearing Slated for May 17
----------------------------------------------------------
The Arbitration Court of Penza will convene at 2:00 p.m. on
May 17 to hear the bankruptcy supervision procedure on OJSC
Bolshevik.  The case is docketed under Case No. A49-6/
2007-9b/26.

The Temporary Insolvency Manager is:

         A. Karmeev
         Office 54
         Kulakova Str. 8/2
         440008 Penza
         Russia

The Court is located at:

         The Arbitration Court of Penza
         Belinskogo Str. 2
         440600 Penza
         Russia

The Debtor can be reached at:

         OJSC Bolshevik
         Roshino
         Sedobskiy, Penza
         Russia


EUROCHEM MINERAL: Fitch Assigns BB- IDR with Stable Outlook
-----------------------------------------------------------
Fitch Ratings assigned Russia-based OJSC EuroChem Mineral and
Chemical Company an Issuer Default 'BB-' rating and a Short-term
'B' rating.  The Outlook on the Issuer Default rating is Stable.

"The ratings reflect EuroChem's leading position in the Russian
fertilizer market, conservative financial policy and strong
financial profile," says Angelina Valavina, Director of Fitch's
Industrials team.

The Stable Outlook reflects Fitch's expectations that the world
fertilizer industry will continue to develop favorably and that
the company will be able to maintain its solid credit profile
despite anticipated large investments and rising costs.

EuroChem's strong position among its international and Russian
peers is based on its revenue growth and profitability,
underpinned by its low cost production base and a favorable
fertilizer market environment.  EuroChem's low costs are
supported by subdued domestic gas prices regulated by the
government and the company's high degree of vertical
integration.  Its FY05 EBITDA margin was 30.3% versus the
average of 22.1% for Russian chemical companies and 16.3% for
international chemical producers rated by Fitch.  In Fitch's
view, this provides EuroChem with additional financial
flexibility against an industry downturn and/or a rise in
production costs.

EuroChem's leverage declined to 0.7x in 2005 from 1.6x in 2003
and compares favorably with those of its Russian and
international peers.  The company's cash position is also sound
with US$82 million of cash on the balance sheet as of
Sept. 30, 2006.  Fitch believes that the company's current sound
credit metrics provide significant headroom for further
expansion.  In addition, the company's conservative financial
policy should help sustain its credit metrics.

However, the ratings factor in the prospect of the company's
strong financial profile coming under pressure from the expected
liberalization of the Russian gas market with a subsequent rise
in domestic prices.  Nonetheless, Fitch believes that this risk
can be mitigated as domestic prices are still expected to remain
below export prices.

Fitch acknowledges the uncertainty inherent in the future
development of EuroChem's potash business, including the
financing of the projected US$1.1 billion investments over 2007-
2012.  However, Fitch believes that the company's current strong
cash flow position and relatively low leverage allow
considerable headroom for debt increase without putting
substantial pressure on the credit profile.


FURNITURE-BYT OJSC: Creditors Must File Claims by April 3
---------------------------------------------------------
Creditors of OJSC Furniture-Byt have until April 3 to submit
written proofs of claim to:

         O. Klemeshov, Insolvency Manager
         Post User Box 174
         630077 Novosibirsk
         Russia

The Arbitration Court of Novosibirsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A45-13066/06-48/284.

The Court is located at:

         The Arbitration Court of Novosibirsk
         Kirova Str. 3
         630007 Novosibirsk
         Russia

The Debtor can be reached at:

         OJSC Furniture-Byt
         Gipsovaya Str. 3
         630001 Novosibirsk
         Russia


GELAN CJSC: Creditors Must File Claims by April 3
-------------------------------------------------
Creditors of CJSC Gelan have until April 3 to submit written
proofs of claim to:

         A. Lyasman, Insolvency Manager
         Kuybysheva Str. 81-103
         644010 Omsk-10
         Russia

The Arbitration Court of Omsk commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A46-17334/2006.

The Debtor can be reached at:

         CJSC Gelan
         Yubileynaya Str. 1
         644076 Omsk
         Russia


HEMP FACTORY: Court Names V. Emelyanov as Insolvency Manager
------------------------------------------------------------
The Arbitration Court of Nizhniy Novgorod appointed Mr. V.
Emelyanov as Insolvency Manager for Municipal Unitary Enterprise
Hemp Factory.  He can be reached at:

         V. Emelyanov
         Office 201
         Mira Avenue 12
         Nizhniy Novgorod
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A43-15520/05-33-266.

The Court is located at:

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

The Debtor can be reached at:

         Municipal Unitary Enterprise Hemp Factory
         Penkozavod
         Pochinkovskiy, Nizhniy Novgorod
         Russia


INDUSTRY OF COLD: Irkutsk Bankruptcy Hearing Slated for April 3
---------------------------------------------------------------
The Arbitration Court of Irkutsk will convene at 11:15 a.m. on
April 3 to hear the bankruptcy supervision procedure on LLC
Industry of Cold.  The case is docketed under Case No.
A19-25587/06-38.

The Temporary Insolvency Manager is:

         V. Pyatakov
         Post User Box 383
         664025 Irkutsk-25
         Russia

The Court is located at:

         The Arbitration Court of Irkutsk
         Room 303
         Gagarina Avenue 70
         664025 Irkutsk
         Russia

The Debtor can be reached at:

         LLC Industry of Cold
         12A-3-229
         Angarsk
         665827 Irkutsk
         Russia


INVESTMENTS FINANCE: Creditors Must File Claims by April 3
----------------------------------------------------------
Creditors of CJSC Investments Finance Credit have until April 3
to submit written proofs of claim to:

         S. Galakhov, Insolvency Manager
         Pugacheva Str. 93
         302004 Orel
         Russia
         Tel: (4862) 75-02-81

The Arbitration Court of Orel commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A48-5598/06-16b.

The Court is located at:

         The Arbitration Court of Orel
         Gorkogo Str. 42
         302000 Orel
         Russia

The Debtor can be reached at:

         CJSC Investments Finance Credit
         Voskresenskiy Per. 16
         302001 Orel
         Russia


KARPISNKOYE BEER: Creditors Must File Claims by February 27
-----------------------------------------------------------
Creditors of LLC Karpisnkoye Beer (TIN 6614005273) have until
Feb. 27 to submit written proofs of claim to:

         S. Shelegin, Insolvency Manager
         Post User Box 93
         620088 Ekaterinburg
         Russia

The Arbitration Court of Sverdlovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A60-36290/2006-S11.

The Court is located at:

         The Arbitration Court of Sverdlovsk
         Lenina Pr. 34
         620151 Ekaterinburg
         Russia

The Debtor can be reached at:

         LLC Karpisnkoye Beer
         Lenina Str. 105/A
         Karpinsk
         624930 Sverdlovsk
         Russia


KUBANSKAYA OIL-GAS: Bankruptcy Hearing Slated for March 27
----------------------------------------------------------
The Arbitration Court of Krasnodar will convene at 12:30 p.m. on
March 27 to hear the bankruptcy supervision procedure on OJSC
Kubanskaya Oil-Gas Company.  The case is docketed under Case No.
A-32-28650/2006-2/2672-B.

The Temporary Insolvency Manager is:

         E. Leylyan
         Krasnaya Str. 180
         350020 Krasnodar
         Russia

The Court is located at:

         The Arbitration Court of Krasnodar
         Krasnaya Str. 6
         Krasnodar
         Russia

The Debtor can be reached at:

         OJSC Kubanskaya Oil-Gas Company
         Budenogo Str. 117/1
         350000 Krasnodar
         Russia


MOSCOW BANK: Fitch Affirms B IDR on Major Shareholder's Support
---------------------------------------------------------------
Fitch Ratings affirmed Moscow Bank for Reconstruction and
Development's ratings at Issuer Default 'B', National Long-term
'BBB-', Short-term 'B', Individual 'D/E' and Support '4'.  The
Outlooks on the Issuer Default and National Long-term ratings
remain Positive.

The Issuer Default, Short-term, Support and National Long-term
ratings are underpinned by the potential support from the bank's
majority shareholder, AFK Sistema JSFC.  The latter is a
diversified holding company with significant assets in various
sectors, with telecoms being the major one.  In Fitch's view,
given its 95%-ownership and the level of MBRD's integration into
the group structure, Sistema's propensity to provide support in
case of need is likely to be high, although it might not always
be able to provide timely support, as reflected in its 'B+'
rating.

The Individual rating reflects risks associated with the high
concentration in both MBRD's loan book and client funding,
particularly with related parties from the Sistema group, as
well as its weak capitalization.  It also takes into account the
bank's modest performance due to a high proportion of low-
yielding liquid assets and significant credit risk costs.
However, the latter is reflective primarily of lending growth
rather than asset quality deterioration.  At the same time, the
rating factors in the bank's relatively good asset quality to
date and reasonable liquidity.

Given the bank's strategy of franchise diversification,
concentration levels and related-party business may reduce.
However, MBRD's fast loan growth and its particular focus on the
retail segment, where the bank has limited experience, may cause
loan impairment levels to increase.

Capital ratios weakened significantly during 2006, although the
Basel I total capital adequacy ratio remained above the minimum
level of 12%, covenanted in the bank's eurobond issues.  While
new capital injections are expected, the planned fast asset
growth until 2010 is likely to constrain capital adequacy
levels.

The future direction of the bank's ratings is likely to depend
on Sistema's Issuer Default rating and Fitch's view of the
parent's propensity to support MBRD.  The Positive Outlook on
MBRD's Issuer Default rating reflects that on Sistema's.  Upside
potential for the Individual rating would require at least a
substantial reduction in the share of business conducted with
Sistema, a decrease in concentrations and an improvement in
profitability.  Downside to the Individual rating is seen as
unlikely at this stage, but could result from a further
deterioration of capitalization or worsening of asset quality.

MBRD is a medium-sized Russian bank that ranked 32nd by total
assets in Russia by end of 2006.  MBRD's core focus has been on
servicing the needs of Sistema, although it is now seeking to
develop third-party business and diversify into the retail
segment. At end of 2006 it had a network of 110 outlets.


PODGORENSKIY OJSC: Creditors Must File Claims by March 3
--------------------------------------------------------
Creditors of OJSC Butter Factory Podgorenskiy have until March 3
to submit written proofs of claim to:

         D. Zakaryan, Insolvency Manager
         Srednemoskovskaya Str. 6a
         Voronezh
         Russia

The Arbitration Court of Voronezh commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A14-15917/2006/237/16b.

The Court is located at:

         The Arbitration Court of Voronezh
         Room 606
         Srednemoskovskaya Str. 77
         Voronezh
         Russia

The Debtor can be reached at:

         OJSC Butter Factory Podgorenskiy
         Kooperativnaya Str. 5
         Podgorenskiy, Voronezh
         Russia


PROGRESS OJSC: Penza Bankruptcy Hearing Slated for May 17
---------------------------------------------------------
The Arbitration Court of Penza will convene at 2:30 p.m. on
May 17 to hear the bankruptcy supervision procedure on OJSC
Progress.  The case is docketed under Case No. A29-8/
2007-10b/26.

The Temporary Insolvency Manager is:

         A. Karmeev
         Office 54
         Kulakova Str. 8/2
         440008 Penza
         Russia

The Court is located at:

         The Arbitration Court of Penza
         Belinskogo Str. 2
         440600 Penza
         Russia

The Debtor can be reached at:

         OJSC Progress
         Sovetskaya Str., 12
         Ermolovka, Penza
         Russia


ROSNEFT OIL: To Build Pacific Coast Refinery for Asian Exports
--------------------------------------------------------------
OAO Rosneft Oil Co. will construct a US$7-billion oil refinery
at Russia's Pacific Coast to tap the growing demand for fuel in
Asia and the U.S., Bloomberg News reports citing company vice
president Alexander Sapronov.

The refinery, which could process up to 20 million tons of crude
oil annually, will export 90% of its output to Asia and a small
amount to the U.S., Mr. Sapronov said.  The company will spend
between U$5 billion and US$7 billion to complete the refinery,
Mr. Sapranov added.

"We consider the Asia-Pacific region to be most promising," Mr.
Sapronov was quoted by Bloomberg News as saying.

Rosneft also mulls constructing a petrochemicals plant near the
refinery to create higher-value products, Mr. Sapronov said.

President Vladimir Putin, Bloomberg relays, had urged Russian
businessmen to invest in processing industries to wean the
company from raw materials exports.

                        About Rosneft

Headquartered in Moscow, Russia, OAO Rosneft Oil Co. --
http://ns.roilcom.ru/english/-- produces and markets petroleum
products.  The Company explores for, extracts, refines and
markets oil and natural gas.  Rosneft produces oil in Western
Siberia, Sakhalin, the North Caucasus and the Arctic regions of
Russia.

                        *     *     *

In a TCR-Europe report on Jan. 16, Standard & Poor's Ratings
Services raised its long-term corporate credit rating on Russian
OJSC Oil Company Rosneft to 'BB+' from 'BB' and removed it from
CreditWatch, where it had been placed with positive implications
on Nov. 15, 2006.  S&P said the outlook is developing.

As reported in the TCR-Europe on Jan. 2, Fitch Ratings placed
OJSC Rosneft Oil's foreign and local currency Issuer Default
ratings of BB+ on Rating Watch Positive following the company's
announcement of strong financial results for the first nine
months of 2006.


SPORT CJSC: Creditors Must File Claims by March 3
-------------------------------------------------
Creditors of CJSC Sport have until March 3 to submit written
proofs of claim to:

         A. Vinogradnyj, Insolvency Manager
         Mira Str. 455a
         Stavropol
         Russia

The Arbitration Court of Stavropol commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A63-218/01-S5.

The Court is located at:

         The Arbitration Court of Stavropol
         Mira Str. 458 b
         Stavropol
         Russia

The Debtor can be reached at:

         CJSC Sport
         Essentuki
         Stavropol
         Russia


VNESHTORGBANK JSC: Shareholders' Meeting Slated for March 19
------------------------------------------------------------
The Supervisory Board of JSC Vneshtorgbank has set an
extraordinary General Shareholders' Meeting for March 19.

The agenda of the Meeting defined by the Supervisory Board
includes the issues relating to an increase of the authorized
capital by offering additional ordinary registered shares and
approval of the relevant amendments to the Bank's Articles of
Association.

                       About Vneshtorgbank

Headquartered in Moscow, Russia, JSC Vneshtorgbank and its
subsidiaries are a leading Russian commercial banking group,
offering a wide range of banking services and conducting
operations in both Russian and international markets.

As of Dec. 31, 2005, the Group had a network of 151 branches,
including 55 branches of VTB, 42 branches of VTB Retail Services
and 54 branches of Industry and Construction Bank, located in
major Russian regions.  The Group operates through three
subsidiaries located in the CIS (Armenia, Georgia, Ukraine),
seven subsidiaries located in Western Europe (Austria, Cyprus,
Switzerland, Germany, Luxembourg, France) and Great Britain and
through five representative offices located in India, Italy,
China, Byelorussia and Ukraine.

                        *     *     *

Following the recent upgrade of the Russian sovereign foreign
and local currency IDRs to BBB+ from BBB, Fitch ratings affirmed
Vneshtorgbank's Individual rating at C/D and Support at 2.


WOOD-TRANS-STROY: Creditors Must File Claims by March 3
-------------------------------------------------------
Creditors of CJSC Wood-Trans-Stroy 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-K2-19401/06.

The Court is located at:

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

The Debtor can be reached at:

         CJSC Wood-Trans-Story
         Tsentralnaya Str. 75
         Krivandino
         Shaturskiy, Moscow
         Russia


WOODWORKING ENTERPRISE: Creditors Must File Claims by March 3
-------------------------------------------------------------
Creditors of LLC Woodworking Enterprise have until March 3 to
submit written proofs of claim to:

         A. Stankevich, Insolvency Manager
         Apartment 5
         Kommunisticheskaya Str. 44/2
         Syktyvkar
         167001 Komi
         Russia

The Arbitration Court of Komi commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A29-9240/2006-3B.

The Court is located at:

         The Arbitration Court of Komi
         Room 407
         Ordzhonikidze Str. 49a
         Syktyvkar
         Russia

The Debtor can be reached at:

         LLC Woodworking Enterprise
         Pechora, Komi
         Russia


YUKOS OIL: Court Junks Petition to Invalidate 2004 Yugansk Sale
---------------------------------------------------------------
The Moscow Arbitration Court dropped OAO Yukos Oil Co.'s motion
to invalidate an auction that sold main production unit
Yuganskneftegaz, RIA Novosti says.

The bankrupt oil producer's petition also included a demand of
US$14.5 billion in damages.

The court earlier postponed the hearings on the case upon Yukos'
request to study materials submitted by the defendants in the
case.

In a TCR-Europe report on Oct. 10, 2006, Yugansk, the former
core production unit of Yukos, was bought by state-owned Rosneft
in December 2004 after the Russian government seized the asset
as payment for more than US$30 billion in tax arrears for 2000-
2003.  Yukos, declared bankrupt on Aug. 1, retains a stake in
Yugansk.

As reported in the Troubled Company Reporter on June 16, 2005,
Yukos asked the court to annul the auction where 43 shares,
representing 76.79% of Authorized Capital of Yugansk, were sold,
and the deed of sale of the shares in unit, as well as for
reimbursement of damages suffered as a result of the auction in
the amount in excess of RUR324 billion.

The case is filed against the Russian Federal Property Fund
(RFFI), OOO Baikal Finance Group, OAO Rosneft, OOO Gazpromneft,
OAO Gazprom, and the Finance Ministry of Russian Federation.
Respondent's interveners in the case are the Main Directorate of
the Justice Ministry of Russian Federation for the city of
Moscow, Federal Anti-Monopoly Service and OAO Yuganskneftegas.
YUKOS has also filed for the court to seize the Yuganskneftegas
shares in question under the legal process.

In its motion, Yukos contests that its core asset was
expropriated to satisfy the demands of tax authorities while the
lawsuits addressing the legitimacy of those tax claims were
still being heard by various courts in Russia.

The Company's claim demands that the auction be ruled invalid.
Yukos contests that due to unjustified undercutting of the
selling price of Yuganskneftegas' shares and grave violations of
law in announcing and holding the auction, the auction process
itself was illegal.

The claim cites specific violations including the fact that RFFI
unlawfully set its own terms for the sale of Yukos's property
resulting in Yuganskneftegas shares being sold below the market
value or the value determined by the Russian Federation's own
evaluation company, Dresdner Kleinwort Wasserstein.  Breaches of
Russian law during preparation and holding of the auction
included:

   -- failure to comply with the legal requirement to announcing
      the timing of the auction and thus ruling out some
      potential buyers;

   -- neglecting to follow the very clear and defined procedure
      for conducting such an auction; and

   -- the direct and unwarranted interference of government
      bodies in the auction process.

Yukos Oil Company contests in its claim that the auction was a
sham and a 'front' for the expropriation of property in favor of
a named state-owned company, OAO Rosneft.

As widely reported, Yukos' assets are valued at US$33 billion
less a 30% discount, with up to US$26.8 billion in debts filed
by 68 creditors as of Jan. 31.  The sale of the company's
remaining assets, which include refineries and two oil
production units, will begin following the completion of the
valuation process this month.

                        About Yukos Oil

Headquartered in Moscow, Yukos Oil -- http://yukos.com/-- is an
open joint stock company existing under the laws of the Russian
Federation.  Yukos is involved in energy industry substantially
through its ownership of its various subsidiaries, which own or
are otherwise entitled to enjoy certain rights to oil and gas
production, refining and marketing assets.

The Company filed for Chapter 11 protection on Dec. 14, 2004
(Bankr. S.D. Tex. Case No. 04-47742), but the case was dismissed
on Feb. 24, 2005, by the Hon. Letitia Z. Clark.

On March 10, 2006, a 14-bank consortium led by Societe Generale
filed a bankruptcy suit in the Moscow Arbitration Court in an
attempt to recover the remainder of a US$1 billion debt under
outstanding loan agreements.  The banks, however, sold the claim
to Rosneft, prompting the Court to replace them with the state-
owned oil company as plaintiff.

On April 13, 2006, court-appointed external manager Eduard
Rebgun filed a chapter 15 petition in the U.S. Bankruptcy Court
for the Southern District of New York (Bankr. S.D.N.Y. Case No.
06-0775), in an attempt to halt the sale of Yukos' 53.7%
ownership interest in Lithuanian AB Mazeikiu Nafta.

On May 26, 2006, Yukos signed a US$1.49 billion Share Sale and
Purchase Agreement with PKN Orlen S.A., Poland's largest oil
refiner, for its Mazeikiu ownership stake.  The move was made a
day after the Manhattan Court lifted an order barring Yukos from
selling its controlling stake in the Lithuanian oil refinery.

On Aug. 1, 2006, the Hon. Pavel Markov of the Moscow Arbitration
Court upheld creditors' vote to liquidate OAO Yukos Oil Co. and
declared what was once Russia's biggest oil firm bankrupt.


YUKOS OIL: Chevron & Reliance Industries Mull Possible Joint Bid
----------------------------------------------------------------
U.S.-based Chevron Corp. will likely submit a joint bid with
India's Reliance Industries Limited for the assets of bankrupt
Yukos Oil Co., Anupama Airy writes for The Financial Express.

Sources told The Financial Express that Reliance and Chevron
earlier agreed to jointly undertake exploration and production,
and refining projects in third countries.

According to the report, Chevron CEO David O'Reilly will discuss
and explore new areas of collaboration with Reliance group
chairman Mukesh Ambani in Mumbai and Jamnagar.

The two parties are also expected to talk about joint bidding in
oil and gas blocks in India to be offered shortly under the
seventh round of the New Exploration & Licensing Policy (Nelp-
VII), Financial Express relates.

Chevron currently holds a 5% stake in Reliance Petroleum
Limited, a subsidiary of RIL.

                 About Reliance Petroleum Limited

Reliance Petroleum Limited is a start-up company, formed to set
up a greenfield petroleum refinery and polypropylene plant to be
located in a Special Economic Zone in Jamnagar in the state of
Gujarat in western India.  The company's refinery and
polypropylene plant is being set up adjacent to the existing
refinery and petrochemical complex of its parent company,
Reliance Industries Limited.

                About Reliance Industries Limited

Headquartered in Mumbai, India, Reliance Industries Limited is
India's largest private sector company with a turnover of US$20
billion and profit of US$2.033 billion for the fiscal year
ending in March 2006.  It was founded by Dhirubhai Ambani in the
1970s.  It has a wide range of products from petrochemicals to
garments.

                        About Yukos Oil

Headquartered in Moscow, Yukos Oil -- http://yukos.com/-- is
an open joint stock company existing under the laws of the
Russian Federation.  Yukos is involved in energy industry
substantially through its ownership of its various subsidiaries,
which own or are otherwise entitled to enjoy certain rights to
oil and gas production, refining and marketing assets.

The Company filed for Chapter 11 protection on Dec. 14, 2004
(Bankr. S.D. Tex. Case No. 04-47742), but the case was
dismissed on Feb. 24, 2005, by the Hon. Letitia Z. Clark.  A few
days later, the Russian Government sold its main production unit
Yugansk to a little-known firm Baikalfinansgroup for US$9.35
billion, as payment for US$27.5 billion in tax arrears for 2000-
2003.  Yugansk eventually was bought by state-owned Rosneft,
which is now claiming more than US$12 billion from Yukos.

On March 10, 2006, a 14-bank consortium led by Societe Generale
filed a bankruptcy suit in the Moscow Arbitration Court in an
attempt to recover the remainder of a US$1 billion debt under
outstanding loan agreements.  The banks, however, sold the claim
to Rosneft, prompting the Court to replace them with the state-
owned oil company as plaintiff.

On April 13, 2006, court-appointed external manager Eduard
Rebgun filed a chapter 15 petition in the U.S. Bankruptcy Court
for the Southern District of New York (Bankr. S.D.N.Y. Case No.
06-0775), in an attempt to halt the sale of Yukos' 53.7%
ownership interest in Lithuanian AB Mazeikiu Nafta.

On May 26, 2006, Yukos signed a US$1.49 billion Share Sale and
Purchase Agreement with PKN Orlen S.A., Poland's largest oil
refiner, for its Mazeikiu ownership stake.  The move was made a
day after the Manhattan Court lifted an order barring Yukos from
selling its controlling stake in the Lithuanian oil refinery.

On Aug. 1, 2006, the Hon. Pavel Markov of the Moscow Arbitration
Court upheld creditors' vote to liquidate OAO Yukos Oil Co. and
declared what was once Russia's biggest oil firm bankrupt.


YUKOS OIL: Receiver Wants Court to Review Tangra-Oil Claim
----------------------------------------------------------
Eduard Rebgun, the bankruptcy receiver of OAO Yukos Oil Co.,
asked the Moscow Arbitration Court to reconsider a court
statement, according to which the amount of Yukos' debt to
Tangra-Oil was calculated, in relation to newly revealed
conditions, RosBusinessConsulting reports.

The court, on Jan. 25, upheld Tangra-Oil's request to include a
RUR367 million (US$13.9 million) claim in Yukos' claims
register.  Mr. Rebgun, along with Rosneft Oil and the Federal
Tax Service, protested against the inclusion, RBC relates.

As reported in the Troubled Company Reporter-Europe on Feb. 16,
Yukos is facing more than RUR709 billion (US$26.8 billion) in
claims filed by 68 creditors in its bankruptcy proceedings, Mr.
Rebgun said.

The court plans to convene a hearing for Mr. Rebgun's motion.

According to AK&M News, Yukos' assets are valued at US$33
billion minus a 30% discount.  The sale of the company's
remaining assets, which include refineries and two oil
production units, will begin following the completion of the
valuation process this month.

                        About Yukos Oil

Headquartered in Moscow, Yukos Oil -- http://yukos.com/-- is
an open joint stock company existing under the laws of the
Russian Federation.  Yukos is involved in energy industry
substantially through its ownership of its various subsidiaries,
which own or are otherwise entitled to enjoy certain rights to
oil and gas production, refining and marketing assets.

The Company filed for Chapter 11 protection on Dec. 14, 2004
(Bankr. S.D. Tex. Case No. 04-47742), but the case was
dismissed on Feb. 24, 2005, by the Hon. Letitia Z. Clark.  A few
days later, the Russian Government sold its main production unit
Yugansk to a little-known firm Baikalfinansgroup for US$9.35
billion, as payment for US$27.5 billion in tax arrears for 2000-
2003.  Yugansk eventually was bought by state-owned Rosneft,
which is now claiming more than US$12 billion from Yukos.

On March 10, 2006, a 14-bank consortium led by Societe Generale
filed a bankruptcy suit in the Moscow Arbitration Court in an
attempt to recover the remainder of a US$1 billion debt under
outstanding loan agreements.  The banks, however, sold the claim
to Rosneft, prompting the Court to replace them with the state-
owned oil company as plaintiff.

On April 13, 2006, court-appointed external manager Eduard
Rebgun filed a chapter 15 petition in the U.S. Bankruptcy Court
for the Southern District of New York (Bankr. S.D.N.Y. Case No.
06-0775), in an attempt to halt the sale of Yukos' 53.7%
ownership interest in Lithuanian AB Mazeikiu Nafta.

On May 26, 2006, Yukos signed a US$1.49 billion Share Sale and
Purchase Agreement with PKN Orlen S.A., Poland's largest oil
refiner, for its Mazeikiu ownership stake.  The move was made a
day after the Manhattan Court lifted an order barring Yukos from
selling its controlling stake in the Lithuanian oil refinery.

On Aug. 1, 2006, the Hon. Pavel Markov of the Moscow Arbitration
Court upheld creditors' vote to liquidate OAO Yukos Oil Co. and
declared what was once Russia's biggest oil firm bankrupt.


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


BARRY CALLEBAUT: Plans to Expand Production in Italy & France
-------------------------------------------------------------
Barry Callebaut AG intends to acquire about 100,000 metric tons
production capacity from Nestle SA in Italy and France to
capture growth opportunities in the fast-growing Mediterranean
region.

In particular, the company plans to acquire from Nestle the
cocoa liquor and liquid chocolate production facility at the
chocolate factory in San Sisto, Italy, as well as a chocolate
factory in Dijon, France.

At the same time, Barry Callebaut would enter into a long-term
agreement with Nestle for the supply of 43,000 tons per annum of
liquid chocolate and the production of some Nestle consumer
products.

The Pan-European project, which also incorporates a commitment
to supply Nestle in Russia with liquid chocolate, spans three
countries.

Barry Callebaut would be able to use the existing capacity at
the acquired sites and intends to install additional capacity of
25,000 tons to better serve its growing industrial and artisanal
customer base in the promising Southern European markets.

"The planned transaction is an excellent opportunity for Barry
Callebaut to increase our production capacity for cocoa liquor
and chocolate for industrial and artisanal customers in the
fast-growing Mediterranean markets," said CEO Patrick De
Maeseneire.

"It would also mark an important step ahead in our strategy to
be the outsourcing partner of choice for co-manufacturing brand
packaged consumer products," he added.

"With a limited investment the supply agreement with Nestle
would increase our sales volume as of next fiscal year 2007/08
and would provide us with free production capacity allowing us
to target the Southern European markets in a more tightly
focused way," Mr. De Maeseneire concluded.


The two parties expect to sign the final agreement during the
summer of 2007, after completing works council consultations.
The transaction is subject to regulatory approvals.  The two
parties have decided not to disclose any financials of the
transaction.

                      About Barry Callebaut

With annual sales of more than CHF4 billion for fiscal year
2005/2006, Zurich-based Barry Callebaut -- http://www.barry-
callebaut.com/ -- is the world's leading manufacturer of high-
quality cocoa, chocolate, and confectionery products - from the
cocoa bean to the finished product on the store shelf.  Barry
Callebaut is present in 25 countries, operates more than 30
production facilities and employs around 8,000 people.  The
company serves the entire food industry, from food manufacturers
to professional users of chocolate, to global retailers.  It
also provides a comprehensive range of services in the fields of
product development, processing, training, and marketing.

                        *     *     *

On Nov. 29, 2006, TCR-Europe reported that Moody's upgraded the
Corporate Family Rating of Barry Callebaut AG to Ba1 and
upgraded to Ba3 the rating on the EUR165-million senior
subordinated notes due 2010 issued by its subsidiary Barry
Callebaut Services N.V.  Moody's said the outlook is stable.


CALRO JSC: Creditors' Liquidation Claims Due March 7
----------------------------------------------------
Creditors of JSC Calro have until March 7 to submit their claims
to:

         Kurt Calonder
         Liquidator
         Santisstrasse 1
         8599 Salmsach
         Arbon TG
         Switzerland

The Debtor can be reached at:

         JSC Calro
         Romanshorn
         Arbon TG
         Switzerland


COMPLEX PROJECTS: Creditors' Liquidation Claims Due March 5
-----------------------------------------------------------
Creditors of LLC Complex Projects WESI have until March 5 to
submit their claims to:

         Werner Hagen
         Liquidator
         Binzstrasse 188
         5072 Oeschgen
         Laufenburg AG
         Switzerland

The Debtor can be reached at:

         LLC Complex Projects WESI
         Oeschgen
         Laufenburg AG
         Switzerland


CONEXCO JSC: Creditors' Liquidation Claims Due March 15
-------------------------------------------------------
Creditors of JSC Conexco have until March 15 to submit their
claims to:

         JSC Herzog Treuhand
         Liquidator
         Baumliackerstr. 36
         4332 Stein AG
         Switzerland

The Debtor can be reached at:

         JSC Conexco
         Stein AG
         Switzerland


CUBE-BIKES.CH LLC: Creditors' Liquidation Claims Due March 5
------------------------------------------------------------
Creditors of LLC cube-bikes.ch have until March 5 to submit
their claims to:

         Pluss & Weber
         Liquidator
         Sengelbachweg 43
         5000 Aarau AG
         Switzerland

The Debtor can be reached at:

         LLC cube-bikes.ch
         Aarau AG
         Switzerland


MINING & CONSTRUCTION: Creditors' Liquidation Claims Due March 7
----------------------------------------------------------------
Creditors of JSC Mining & Construction Services Corp. have until
March 7 to submit their claims to:

         Rolf P. Oberholzer
         Liquidator
         6957 Roveredo-Capriasca
         Switzerland

The Debtor can be reached at:

         JSC Mining & Construction Services Corp.
         Rute AI
         Switzerland


NOVEL FOOD: Creditors' Liquidation Claims Due March 5
-----------------------------------------------------
Creditors of LLC NOVEL Food Tecnology have until March 5 to
submit their claims to:

         Regula Schlegel
         Liquidator
         Dufourstr. 165
         8008 Zurich
         Switzerland

The Debtor can be reached at:

         LLC NOVEL Food Tecnology
         Uitikon
         Dietikon ZH
         Switzerland


SEGRAMA LLC: Creditors' Liquidation Claims Due March 5
------------------------------------------------------
Creditors of LLC Segrama have until March 5 to submit their
claims to:

         Beat Huber
         Liquidator
         Aemmenmattstrasse 39
         3123 Belp
         Seftigen BE
         Switzerland

The Debtor can be reached at:

         LLC Segrama
         Uitikon
         Dietikon ZH
         Switzerland


THOUGHT - OUT JSC: Creditors' Liquidation Claims Due March 5
------------------------------------------------------------
Creditors of JSC thought-out have until March 5 to submit their
claims to:

         Andre Funk
         Liquidator
         Muhlematt 22
         3294 Buren an der Aare BE
         Switzerland

The Debtor can be reached at:

         JSC thought-out
         Bern
         Switzerland


TOURISTIK FINANZ: Creditors' Liquidation Claims Due March 5
-----------------------------------------------------------
Creditors of JSC Touristik Finanz have until March 5 to submit
their claims to:

         Treuhandgesellschaft Bommer + Partner
         Liquidator
         Strandweg 33
         3004 Bern
         Switzerland

The Debtor can be reached at:

         JSC Touristik Finanz
         Thalwil
         Horgen ZH
         Switzerland


WINDSTAR GRAPHICS: Creditors' Liquidation Claims Due March 7
------------------------------------------------------------
Creditors of JSC Windstar Graphics have until March 7 to submit
their claims to:

         Hauptgasse 41
         9050 Appenzell
         Switzerland

The Debtor can be reached at:

         JSC Windstar Graphics
         Appenzell
         Switzerland


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


BUSINESS SYSTEM: Claims Submission Deadline Set March 5
-------------------------------------------------------
Creditors of LLC Business System Trading (code EDRPOU 31732061)
have until March 5 to submit written proofs of claim to:

         V. Leckan, Liquidator
         Dovzhenko Str. 16B, ap. 42
         03057 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 15/823-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 Business System Trading
         O. Teliga Str. 37
         04086 Kiev
         Ukraine


CHERNIATINETSKOE LLC: Claims Submission Deadline Set March 8
------------------------------------------------------------
Creditors of LLC Cherniatinetskoe (code EDRPOU 03729249) have
until March 8 to submit written proofs of claim to:

         Hmelnitsky Joint State Tax Inspection, Liquidator
         1 of May Str. 13
         Lozovaya
         Hmelnitskiy District
         Vinnica
         Ukraine

The Economic Court of Vinnica commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 10/226-06.

The Court is located at:

         The Economic Court of Vinnica
         Hmelnickiy Str. 7
         21036 Vinnica
         Ukraine

The Debtor can be reached at:

         LLC Cherniatinetskoe
         Hmelnitskij District Cherniatincy
         22036 Vinnica
         Ukraine


HMELNITSKY REPAIR-MECHANIC: Claims Filing Deadline Set March 8
--------------------------------------------------------------
Creditors of OJSC Hmelnitsky Repair-Mechanic Plant (code EDRPOU
00901312) have until March 8 to submit written proofs of claim
to:
         Sergey Golubenko, Liquidator
         1 of May Str. 13
         Lozovaya
         Hmelnitskiy District
         Vinnica
         Ukraine

The Economic Court of Vinnica commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 10/230-06.

The Court is located at:

         The Economic Court of Vinnica
         Hmelnickiy Str. 7
         21036 Vinnica
         Ukraine

The Debtor can be reached at:

         OJSC Hmelnitsky Repair-Mechanic Plant
         Zhdanov Str. 12
         Hmelnik
         22000 Vinnica
         Ukraine


KRASYLOV AUTOTRANSPORT 16841: Creditors' Claims by March 8
----------------------------------------------------------
Creditors of OJSC Krasylov Autotransport Enterprise-16841 (code
EDRPOU 03119204) have until March 8 to submit written proofs of
claim to:

         Victor Matuschak, Temporary Insolvency Manager
         Skovoroda Str. 14
         Hmelnitskiy
         Ukraine

The Economic Court of Hmelnitskiy commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. 4/355-B.

The Court is located at:

         The Economic Court of Hmelnitskiy
         Nezalezhnosti Square 1
         29000 Hmelnitskiy
         Ukraine

The Debtor can be reached at:

         OJSC Krasylov Autotransport Enterprise-16841
         Grushevsky Str. 2A
         Krasylov
         31000 Hmelnitskiy
         Ukraine


METALIST OJSC: Creditors Must Submit Claims by March 8
------------------------------------------------------
Creditors of OJSC Metalist (code EDRPOU 00908262) have until
March 8 to submit written proofs of claim to:

         Taisiya Melnik, Temporary Insolvency Manager
         Pervomayskaya Str. 6
         Derazhnia
         Hmelnitskiy
         Ukraine

The Economic Court of Hmelnitskiy commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. 4/354-B.

The Court is located at:

         The Economic Court of Hmelnitskiy
         Nezalezhnosti Square 1
         29000 Hmelnitskiy
         Ukraine

The Debtor can be reached at:

         OJSC Metalist
         Pervomayskaya Str. 33
         Derazhnia
         Hmelnitskiy
         Ukraine


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


ADVANCE RECRUITMENT: Names Roderick Julian Jones Liquidator
-----------------------------------------------------------
Roderick Julian Jones was appointed liquidator of Advance
Recruitment (Leeds) Ltd. on Feb. 6 for the creditors' voluntary
winding-up procedure.

The company can be reached at:

         Advance Recruitment (Leeds) Ltd.
         Pickups Business Park
         Stanningley
         West Yorkshire
         LS286JP
         England
         Tel: 0113 255 8736
         Fax: 0113 239 4437


ADVANCED MARKETING: Robert E. Robotti Resigns as Director
---------------------------------------------------------
Robert E. Robotti, who was appointed in November 2006, has
resigned as a director of Advanced Marketing Services Inc.  Mr.
Robotti is a managing member of Ravenswood Management Company
L.L.C., the General Partner of Ravenswood Investment Company
L.P.

In resigning as a director, Mr. Robotti stated that he disagreed
with the Board's decision to proceed with the annual meeting of
stockholders on Jan. 24, as previously scheduled.  Mr. Robotti
expressed his concern that, given the advance notice
requirements in the company's bylaws, the opportunity has passed
for stockholders to nominate director candidates or to bring
other business before the meeting.  Mr. Robotti instead sought
to postpone the annual meeting until a later date.

Robert F. Bartlett, Chairman of the Board of Directors, stated:
"The company originally announced the January 24 meeting date
back on Oct. 3, 2006, and the Board has determined that it is in
the best interests of the company and its stockholders to
proceed with the meeting as scheduled.  We regret that Bob has
decided to resign from the Board, but we respect his viewpoint,
and we thank him for his contributions during his period of
service."

                    About Advanced Marketing

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

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
When the Debtors filed for protection from their creditors, they
listed estimated assets and debts of more than US$100 million.
The Debtors' exclusive period to file a chapter 11 plan expires
on April 28, 2007. (Advanced Marketing Bankruptcy News, Issue
No. 5; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


AUBURN SECURITIES: S&P Puts Class E Notes on Watch Positive
-----------------------------------------------------------
Standard & Poor's Ratings Services placed on CreditWatch with
positive implications its credit ratings on class E notes issued
by Auburn Securities 4 PLC.  Class B, C and D are also placed on
CreditWatch.

                          Ratings List

                   Auburn Securities 4 PLC
         GBP1 Billion Mortgage-Backed Floating-Rate Notes

              Class              Rating
                         To                  From

      Ratings Placed On CreditWatch With Positive Implications

              E          BB/Watch Pos        BB

      Also placed on CreditWatch With Positive Implications are:

              B          AA/Watch Pos        AA
              C          A/Watch Pos         A
              D          BBB/Watch Pos       BBB


The CreditWatch placement follows an initial review of the most
recent transaction information received by Standard & Poor's.
This analysis showed that the likelihood of a positive rating
action has increased for the class B, C, D, and E notes, and
levels of credit enhancement available to these notes have
improved.

Standard & Poor's will now conduct a more detailed analysis to
investigate whether any or all of these notes can attain a
higher rating.  The results of this review and any rating
changes are expected within three months.

This transaction, which closed in October 2004, was originally
backed by a pool of first-ranking mortgages over buy-to-let and
owner-occupied properties in the U.K.  Capital Home Loans Ltd.,
a subsidiary of Irish Life & Permanent Plc, originated it.


BEAUBLADE LTD: Creditors' Meeting Slated for March 1
----------------------------------------------------
Creditors of Beaublade Ltd. will meet at 10:30 a.m. on March 1
at:

         Sanderlings LLP
         Sanderling House
         1071 Warwick Road
         Acocks Green
         Birmingham
         B27 6QT
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge on Feb. 27.


BEN DAVIS: Taps Liquidators from Moore Stephens LLP
---------------------------------------------------
Mark Bowen and Nigel Price of Moore Stephens LLP were appoi nted
joint liquidators of Ben Davis (Worcester) Ltd. on Jan. 30 for
the creditors' voluntary winding-up procedure.

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:

         Ben Davis (Worcester) Ltd.
         Hylton Road
         Worcester
         Worcestershire
         WR2 5JS
         Tel: 01905 423 178
         Fax: 01905 421 139


BRAY SECURITY: Appoints Liquidators from Begbies Traynor
--------------------------------------------------------
Paul Finnity and Robert Michael Young of Begbies Traynor were
appointed joint liquidators of Bray Security Services Ltd. 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:

         Bray Security Services Ltd.
         Meadow Lane
         Nottingham
         Nottinghamshire
         NG2 3HR
         England
         Tel: 0115 98 6 8240


BRIAN NICHOLLS: Claims Filing Period Ends May 30
------------------------------------------------
Creditors of Brian Nicholls (Bradford) Ltd. have until May 30 to
send in their full names, their addresses and descriptions, full
particulars of their debts or claims and the names and addresses
of their solicitors (if any), to:

         Raymond Stuart Claughton
         Liquidator
         Rushtons
         Merchant's Quay
         Ashley Lane
         Shipley
         BD17 7DB
         England

Raymond Stuart Claughton of Rushtons was appointed liquidator of
the company on Feb. 2.

The company can be reached at:

         Brian Nicholls (Bradford) Ltd.
         Unit 1 Crossley Hall Works
         York Street
         Bradford
         West Yorkshire
         BD8 0HR
         England
         Tel: 01274 480 224
         Fax: 01274 480 421


BUTLERS COLLECTION: Appoints Leslie Ross as Liquidator
------------------------------------------------------
Leslie Ross of Grant Thornton U.K. LLP was appointed liquidator
of The Butlers Collection Ltd. on Feb. 8 for the creditors'
voluntary winding-up proceeding.

G rant Thornton U.K. LLP -- http://www.grant-thornton.co.uk/--  
provides value-added professional services as assurance
services, compensation and benefits, merger and acquisition
transaction services, management advisory services, tax
consulting and valuation services.

The company can be reached at:

         The Butlers Collection Ltd.
         Crompton Way
         Bolton
         Lancashire
         BL2 2SD
         England
         Tel: 01204 370 333
         Fax: 01204 370 444


CALENDAR WORLD: Creditors' Meeting Slated for February 26
---------------------------------------------------------
Creditors of Calendar World Ltd. will meet at 11:00 a.m. on
Feb. 26 at:

         Kallis & Co.
         1148 High Road
         Whetstone
         London
         N20 0RA
         England

Creditors who want to vote at the meeting have until noon on
Feb. 23 to submit their proxy forms together with particulars of
their claims or of any security at the said address.

Elizabeth Arakapiotis of Kallis & Co. will furnish creditors
with information concerning the company's affairs free of charge
as they may reasonably require.


CAPRICORN SOFTWARE: Creditors' Meeting Slated for February 23
------------------------------------------------------------
Creditors of Capricorn Software Ltd. will meet at 11:15 a.m. on
Feb. 23 at:

         DTE Leonard Curtis
         24 Wellington Street
         St. Johns
         Blackburn
         BB1 8AF
         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 the said address.

A list of names and addresses of the company's creditors will be
available for inspection between 10:00 a.m. and 4:00 p.m. on
Feb. 21.

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.


CENTURY SHIPPING: Creditors' Meeting Slated for February 28
-----------------------------------------------------------
Creditors of Century Shipping Group Ltd. will meet at 12:45 p.m.
on Feb. 28 at:

         Campanile Hotel
         Beverley Road
         Freetown Way
         Hull
         HU2 9AN
         England

Creditors who want to vote at the meeting have until noon on
Feb. 26 to submit their proxy forms together with particulars of
their claims or of a ny security at the office of:

         Jacksons Jolliffe Cork
         Lowgate House
         Lowgate
         Hull
         HU1 1EL
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge on Feb. 26.

Jackson Jolliffe Cork -- http://www.jjcork.co.uk/-- engages
exclusively in business recovery and insolvency work and
comprises certified and chartered accountants, licensed
insolvency practitioners and business turnaround consultants,
many having joined us from senior positions within National
firms.


CORUS GROUP: Tata Steel Hikes Equity Share Capital to 21.98%
------------------------------------------------------------
Tata Steel U.K. Ltd., the indirect wholly owned subsidiary of
Tata Steel Ltd., acquired a 7,136,094 equity share capital,
representing 0.8% stake, in Corus Group Plc at 601.75 pence for
an aggregate of GBP42.94 million (US$84.38 million), according
to published reports.

Following the transaction, the subsidiary now holds 207,092,046
equity share capital or 21.98% stake in the company.

As previously reported in the TCR-Europe on Jan. 31, Tata Steel
won an auction for Corus over Companhia Siderurgica Nacional
after offering investors 608 pence per share in cash, or GBP5.7
billion (US$11.3 billion).

                        About Tata Steel

Established in 1907, Tata Steel is Asia's first and India's
largest private sector steel company. Tata Steel is among the
lowest cost producers of steel in the world and one of the few
select steel companies in the world that is EVA+ (Economic Value
Added).

                       About Corus Group

Corus Group plc, fka British Steel, was formed when the U.K.
privatized its major steelworks in 1988.  It then changed its
name to Corus Group after acquiring most of Dutch rival
Koninklijke Hoogovens.  Corus makes coated and uncoated strip
products, sections and plates, wire rod, engineering steels, and
semi-finished carbon steel products.  It also manufactures
primary aluminum products. Customers include companies in the
automotive, construction, engineering, and household-product
manufacturing industries.

Six years ago, the group suffered from the crisis in British
manufacturing, which prompted it to shake up management, close
plants, cut jobs, and sell assets to lower debt.  Its debt was
thought to stand at GBP1.6 billion in 2002.

After posting a net loss of GBP458 million in 2003, it embarked
on a restructuring program, signed a new EUR1.2 billion banking
facility, and issued GBP307 million worth of shares.  It
returned to operating profit in the first quarter of 2004.  The
recent recovery of steel prices and the strength of the euro are
expected to help it achieve relatively strong earnings.

                          *     *     *

As reported in the TCR-Europe on Feb. 2, Fitch Ratings said that
Corus Group Plc's Issuer Default 'BB-' and Short-term 'B'
ratings remain on Rating Watch Negative following a recommended
bid, valued at GBP6.2 billion, from India-based Tata Steel Ltd.
in the wake of an auction process conducted by the U.K. Takeover
Panel on Jan. 30-31.

The RWN also applies to the 'B+' ratings on CS's EUR800 million
7.5% senior notes and Corus Finance Plc's GBP200m 6.75%
guaranteed bonds.

At the same time, Standard & Poor's Ratings Services kept its
'BB' long-term corporate credit rating on U.K.-based steelmaker
Corus Group PLC on CreditWatch with developing implications,
after the completion of the auction process, during which India-
based steel manufacturer Tata Steel Ltd. offered the highest bid
of 608 pence per share.


CORUS GROUP: Tata Group to Launch Bond Issue In Overseas Markets
----------------------------------------------------------------
Tata Steel U.K. Ltd. and its holding companies intend to launch
a bond issue in the overseas markets aimed at raising US$2.6
billion to US$3 billion, Reuters reports citing the Mint
business paper as its source.

According to the paper, bond proceeds will be used to repay a
loan obtained for the acquisition of Corus Group plc.

As previously reported in the TCR-Europe on Jan. 31, Tata Steel
won an auction for Corus over Companhia Siderurgica Nacional
after offering investors 608 pence per share in cash, or GBP5.7
billion (US$11.3 billion).

                        About Tata Steel

Established in 1907, Tata Steel is Asia's first and India's
largest private sector steel company. Tata Steel is among the
lowest cost producers of steel in the world and one of the few
select steel companies in the world that is EVA+ (Economic Value
Added).

                       About Corus Group

Corus Group plc, fka British Steel, was formed when the U.K.
privatized its major steelworks in 1988.  It then changed its
name to Corus Group after acquiring most of Dutch rival
Koninklijke Hoogovens.  Corus makes coated and uncoated strip
products, sections and plates, wire rod, engineering steels, and
semi-finished carbon steel products.  It also manufactures
primary aluminum products. Customers include companies in the
automotive, construction, engineering, and household-product
manufacturing industries.

Six years ago, the group suffered from the crisis in British
manufacturing, which prompted it to shake up management, close
plants, cut jobs, and sell assets to lower debt.  Its debt was
thought to stand at GBP1.6 billion in 2002.

After posting a net loss of GBP458 million in 2003, it embarked
on a restructuring program, signed a new EUR1.2 billion banking
facility, and issued GBP307 million worth of shares.  It
returned to operating profit in the first quarter of 2004.  The
recent recovery of steel prices and the strength of the euro are
expected to help it achieve relatively strong earnings.

                          *     *     *

As reported in the TCR-Europe on Feb. 2, Fitch Ratings said that
Corus Group Plc's Issuer Default 'BB-' and Short-term 'B'
ratings remain on Rating Watch Negative following a recommended
bid, valued at GBP6.2 billion, from India-based Tata Steel Ltd.
in the wake of an auction process conducted by the U.K. Takeover
Panel on Jan. 30-31.

The RWN also applies to the 'B+' ratings on CS's EUR800 million
7.5% senior notes and Corus Finance Plc's GBP200m 6.75%
guaranteed bonds.

At the same time, Standard & Poor's Ratings Services kept its
'BB' long-term corporate credit rating on U.K.-based steelmaker
Corus Group PLC on CreditWatch with developing implications,
after the completion of the auction process, during which India-
based steel manufacturer Tata Steel Ltd. offered the highest bid
of 608 pence per share.


CUSTOMISED INTERIORS: Creditors' Meeting Slated for February 28
---------------------------------------------------------------
Creditors of Customised Interiors Ltd. will meet at 10:30 a.m.
on Feb. 28 at:

         Jones Lowndes Dwyer LLP
         4 The Stables
         Wilmslow Road
         Didsbury
         Manchester
         M20 5PG
         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 between 10:00 a.m. and
4:00 p.m. on Feb. 26.


DATACOM INSTALLATIONS: Appoints Liquidator from Begbies Traynor
---------------------------------------------------------------
David R. Acland of Begbies Traynor was appointed liquidator of
Datacom Installations 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:

         Datacom Installations Ltd.
         7 Foxglove Close
         Hesketh Bank
         Preston
         Lancashire
         PR4 6TG
         England
         Tel: 01772 815 060


DAVID EADY: Claims Filing Period Ends March 2
---------------------------------------------
Creditors of David Eady Ltd. have until March 2 to send in their
full names, their addresses and descriptions, full particulars
of their debts or claims, and the names and addresses of their
solicitors (if any), to:

         Sue Stockley
         Liquidator
         Fanshawe Lofts
         Universal House
         1-2 Queens Parade Place
         Bath
         BA1 2NN
         England

Sue Stockley of Fanshawe Lofts was appointed liquidator of the
company on Jan. 30.

The company can be reached at:

         David Eady Ltd.
         Culverleaze
         Grafton Place
         East Grafton
         Marlborough
         Wiltshire
         SN8 3TU
         England
         Tel: 01672 811 065
         Fax: 01672 811 065


DIESPEKER G.R.P.: Creditors' Meeting Slated for March 2
-------------------------------------------------------
Creditors of Diespeker (G.R.P.) Ltd. will meet at 11:00 a.m. on
March 2 at:

         The Days Inn Wakefield
         Fryers Way
         Silkwood Park
         Osset
         Wakefield
         Yorkshire
         WF5 9TJ
         England

Creditors who want to vote at the meeting have until noon on
March 1 to submit their proxy forms together with particulars of
their claims or of any security at:

         Marlor Walls
         C12 Marquis Court
         Marquis Way
         Team Valley
         Gateshead
         NE11 0RU
         England

E. Walls of Marlor Walls will furnish creditors with information
concerning the company's affairs free of charge as they may
reasonably require.


EMBASSY HOME: Claims Filing Period Ends May 9
---------------------------------------------
Creditors of Embassy Home Improvements Ltd. have until May 9 to
send their names and addresses and particulars of their debts or
claims and the names and addresses of their solicitors (if any)
to:

         Ian M. Rose
         Peter A. Blair
         Joint Liquidators
         Begbies Traynor
         Regency House
         21 The Ropewalk
         Nottingham
         NG1 5DU
         England

Ian M. Rose and Peter A. Blair of Begbies Traynor were appointed
joint liquidators of the company on Feb. 9.

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


EMI GROUP: Mulls Buyback of EUR1.47-Billion Bonds
-------------------------------------------------
EMI Group Plc may repurchase EUR1.47 billion of bonds, Bloomberg
News reports citing traders of credit derivatives.

According to Bloomberg, credit default swaps fell EUR25,000 to
EUR160,000 based on the company's EUR10 million debt on
speculation that EMI may replace existing bonds with a GBP1
billion debt backed by its music-publishing business.  The move
could spare the company around GBP20 million a year in interest,
Bloomberg cited The Sunday Times.

"The decline in the credit-default swap price is a reaction to
the weekend report that the company may securitize part of its
business and pay back its bonds," Guy Stear, high-yield credit
strategist at Societe Generale SA in Paris was quoted by
Bloomberg as saying.

As reported in the TCR-Europe on Feb. 16, EMI expects its
recorded music division's revenue for the financial year ending
March 31, 2007, to fall by around 15% at constant currency
compared to the prior year.

On Jan. 12, the company warned that revenues for the year could
decline by around 6% to 10% and expects that disruption from the
restructuring initiatives will constrain revenue at EMI Music
until March 31, 2008.

According to the Wall Street Journal, Eclectica Asset
Management, a hedge-fund shareholder who has a 0.75% stake in
the company, urge EMI to be transparent in the values of its
assets.  Eclectica also wants the company to disclose the net
revenue of its music publishing and to seek advise from an
investment bank on the value of its music-publishing unit.

                          About EMI

Headquartered in London, United Kingdom, EMI Group PLC --
http://www.emigroup.com/-- is the world's largest independent
music company, operating directly in 50 countries and with
licensees in a further 20.  The group has operations in Brazil,
China, and Hungary.  The group employs over 6,600 people.
Revenues in 2005 were near EUR2 billion and operating profit
generated was over EUR225 million.

At March 31, 2006, EMI Group's consolidated balance sheet
revealed GBP1.817 billion in total assets, GBP2.544 billion in
total liabilities and GBP726.6 million in shareholders' deficit.

                        *     *     *

According to a TCR-Europe report on Jan. 17, Moody's Investors
Service downgraded EMI Group Plc's Corporate Family and senior
debt ratings to Ba3 from Ba2.  All ratings remain under review
for possible further downgrade.

As reported in the TCR-LA on Feb. 19, Standard & Poor's Ratings
Services kept the U.K.-based music major EMI Group PLC's ratings
at BB-/Watch Neg/B, after the company announced it expects
revenues in its recorded music division to decline by 15% in the
fiscal year ended March 31, 2007, at constant currencies.  The
ratings also remain on CreditWatch with negative implications,
where they were placed on Feb. 5, 2007.


EUROTUNNEL GROUP: Acquires Five Class 92 Locomotives
----------------------------------------------------
Eurotunnel Group acquired five series 92 locomotives following a
tender offer launched by Eurostar, the owner of a fleet of this
type of engine.

The Class 92 locomotives are Tunnel compliant.  The value of the
acquisition is slightly above GBP2 million.

The company aimed to develop cross-Channel rail freight and to
make the most of its know how in the sector through its
subsidiary, Europorte 2.

These multi-current electric locomotives, built in the United
Kingdom, between 1993 and 1996, by Brush Traction and ABB
Transportation, which is now part of Bombardier, have a maximum
power of 5MW and a top speed of 140 km/h.

Following a major service, these engines will join Eurotunnel's
existing fleet of 57 shuttle pulling locomotives.

"It is our firm intention to contribute to the development of
cross-Channel rail freight through our subsidiary Europorte 2.
We will implement, with determination and pragmatism, a project,
which had not previously been brought to fruitation.  Europorte
2 will offer a simple and efficient service to cross-Channel
customers," Jacques Gounon, Eurotunnel and Europorte 2 chairman
commented.

                        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 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.


EVOLINK LTD: Claims Filing Period Ends March 16
-----------------------------------------------
Creditors of Evolink Ltd. (formerly Elise (U.K.) Ltd. and
Outsider Computing Ltd.) have until March 16 to send their full
names and addresses, together with full particulars of their
debts or claims, to:

         Peter O'Duffy
         Liquidator
         IP Services Ltd.
         9 Woodhill Road
         Portishead
         Bristol
         BS20 7EU
         England

Peter O'Duffy of IP Services Ltd. was appointed liquidator of
the company on Feb. 9.

The company can be reached at:

         Evolink Ltd.
         Park House
         10 Park Street
         Bristol
         Avon
         BS1 5HX
         England
         Tel: 0117 929 1200
         Fax: 0117 929 7110


FOOTWORK SUPPLIES: Brings In Liquidators from Taylor Rowlands
-------------------------------------------------------------
John Harvey Madden and Peter William Gray of Taylor Rowlands
were appointed joint liquidators of Footwork Supplies Ltd. on
Feb. 8 for the creditors' voluntary winding-up procedure.

The company can be reached at:

         Footwork Supplies Ltd.
         Unit 17 Hartlepool Workshops
         Usworth Road
         Hartlepool
         Cleveland
         TS251PD
         England
         Tel: 01429 865 326
         Fax: 01429 867 486


FOSSE ACADEMY: Creditors' Meeting Slated for February 27
--------------------------------------------------------
Creditors of The Fosse Academy will meet at 11:45 a.m. on
Feb. 27 at:

         Pannell House
         159 Charles Street
         Leicester
         LE1 1LD
         England

Creditors who want to vote at the meeting have until noon on
Feb. 26 to submit their proxy forms together with particulars of
their claims or of any security at the said address.

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on Feb. 23.


GENERAL MOTORS: Collaborates With Colorado State on E85 Ethanol
---------------------------------------------------------------
General Motors Corp. and Governor Bill Ritter's Colorado E85
Coalition have revealed plans for the addition of 40 new E85
ethanol-fueling locations to be opened throughout the state by
the end of 2007.

GM will promote the new fueling locations as part of a broader,
ongoing national GM campaign to boost the use and awareness of
ethanol-based E85 fuel in the United States.  The announcement
was made at the State Capitol during an event presided over by
Colorado Governor Bill Ritter, GM executives, and the U.S.
Department of Energy.

"I commend General Motors, our retail partners, the Coalition,
and local organizations including the Colorado Corn Growers for
making alternative fuels more widely available to Colorado
drivers.  The Coalition's goal to increase alternative fuel
awareness and infrastructure statewide bring Coloradans more
options and reasons for choosing biofuels.  These are the
necessary steps to support new energy economies and decrease our
oil dependence," Gov. Ritter said.

Colorado's plans for adding an additional forty stations to the
existing 13 E85 fueling locations is significant since it is the
largest one-time announcement made by GM and any state partner
to-date.  Noteworthy to Colorado's efforts, and which other
states will benefit from, is how collaboration with state
government leadership is important to help ensure E85 ethanol
can be made more widely available to consumers at a time when
Underwriters Laboratories has temporarily suspended
authorization for manufacturers to use UL Markings on E85 fuel
dispensing devices. Working together, the Fire Marshals'
Association of Colorado, the Colorado Division of Oil and Public
Safety, the Colorado Division of Fire Safety and the Office of
Energy Management and Conservation were able to develop
appropriate guidelines for local jurisdictions to continue to
use E85 fuel dispensers until UL resumes listing fuel-dispensing
equipment.

"We appreciate the efforts of Governor Ritter and the OEMC to
support E85 ethanol and we commend the fire marshals for
developing a state-wide plan to continue to make this great fuel
alternative available in Colorado as UL progresses with testing
and certification," General Motors Vice President of Environment
and Energy Elizabeth Lowery said.

"At GM, we believe that the biofuel with the greatest potential
to displace petroleum-based fuels in the U.S. is ethanol and we
have made a major commitment to vehicles that can run on E85
ethanol-with over two million of our FlexFuel vehicles on the
road today and plans to expand production going forward.  We
will continue to work with government, organizations and
retailers to promote increased use and awareness of E85 ethanol
across the country."

As part of the partnership, GM will promote the availability of
the fuel with consumer and dealer outreach.  Local GM dealers
will help promote these new refueling stations whenever
customers purchase flex-fuel vehicles.  [Thi]s announcement is
part of a nationwide effort by GM to help grow the E85 ethanol
fueling station infrastructure.  Since May of 2005, GM has
announced partnerships in 12 states (South Dakota, California,
Texas, Illinois, Minnesota, Michigan, Indiana, Ohio,
Pennsylvania, Florida, New York, and Virginia) to locate more
than 200 E85 fueling pumps at stations around the country.

The goals of the Colorado E85 Coalition depend upon strategic
partnerships with key retailers like Pester Marketing and
Western Convenience.  These two retailers announced that they
are committed to respectively opening 12 and 10 E85 ethanol-as
well as some biodiesel-fueling sites this year.

Rich Spresser, Executive Vice President, Pester Marketing added,
"As the number of flex fuel vehicles on Colorado roads continues
to increase, Pester is pleased to be able to provide our
customers with convenience while supporting the use of cleaner
burning fuels, like E85 ethanol."

"Western Convenience is proud to offer its customers and the
many Colorado motorists greater access to E85 fuel," Western
Convenience Director of Operations Bob Van Meter said.  "Our 10
sites will make alternative fuels available across the state."

"The Department of Energy congratulates Governor Ritter's
Colorado E85 Coalition and General Motors in the formation of
this partnership to promote renewable biofuels for consumers at
more retail locations," the Department of Energy Principal
Deputy Assistant Secretary John Mizroch said.

"Recently, DOE awarded the Coalition nearly $400,000 for
increasing alternative fuel infrastructure development and usage
in Colorado.  All of these efforts will help our nation to wean
itself from its addiction to oil by providing consumers with
domestically grown and produced fuel choices like E85 ethanol."

GM's E85 partnership and marketing campaign are designed to
encourage greater E85 use and showcase GM's E85 FlexFuel vehicle
leadership to U.S. consumers.  E85 FlexFuel vehicles can run on
any combination of gasoline and/or E85, a fuel blend of 85%
ethanol and 15% gasoline.  E85 can contribute to energy
independence because it diversifies the source of transportation
fuels beyond petroleum, and it provides positive environmental
benefits in the form of reduced greenhouse gas emissions.

Currently, GM has more than 2 million E85 FlexFuel vehicles on
the road in all 50 states, and will produce more this year.  For
the 2007 model year, GM is offering 16 E85 ethanol-capable
vehicle models, with an annual production of more than 400,000
vehicles. This is more than any other manufacturer.

GM believes that developing alternative sources of energy and
propulsion is the key to mitigating many of the issues
surrounding energy availability.  Producing E85 FlexFuel
vehicles is one part of GM's strategy to help reduce the use of
petroleum and also reduce vehicle emissions.  GM's strategy also
includes improving the efficiency of the traditional internal
combustion engine with technologies available today; and
developing electrically driven vehicles such as hybrids, plug-in
hybrids, fuel cell vehicles, and electric vehicles.

                     About General Motors Corp.

General Motors Corp. (NYSE: GM) -- http://www.gm.com/-- is the
world's largest automaker and has been the global industry sales
leader since 1931.  Founded in 1908, GM employs about 284,000
people around the world.  It has manufacturing operations in
33 countries and its vehicles are sold in 200 countries.  GM
sells cars and trucks under these brands: Buick, Cadillac,
Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab,
Saturn, and Vauxhall.

                          *     *     *

As reported in the Troubled Company Reporter-Europe on
Dec. 15, 2006, Standard & Poor's Ratings Services affirmed its
'B' corporate credit rating and other ratings on General Motors
Corp. and removed them from CreditWatch with negative
implications, where they were placed March 29, 2006.  S&P said
the outlook is negative.

As reported in the TCR-Europe on Nov. 16, 2006, Standard &
Poor's Ratings Services assigned its 'B+' bank loan rating to
General Motors Corp.'s proposed US$1.5 billion senior term loan
facility, expiring 2013, with a recovery rating of '1'.  The
'B+' rating was placed on Creditwatch with negative
implications, consistent with the other issue ratings of GM,
excluding recovery ratings.

At the same time, Moody's Investors Service assigned a Ba3,
LGD1, 9% rating to the proposed US$1.5 Billion secured term loan
of General Motors Corp.  The term loan will be secured by a
first priority perfected security interest in all of the U.S.
machinery and equipment, and special tools of GM and Saturn
Corp.


GENERAL MOTORS: Provides Update on Accounting Issues
----------------------------------------------------
General Motors Corp. has substantially completed its previously
announced review of deferred income taxes as well as the
accounting for derivatives under Statement of Financial
Accounting Standards No. 133, Accounting for Derivative
Instruments and Hedging Activities.

GM has determined that its previously filed financial statements
and financial information for 2002 through the third quarter of
2006 should no longer be relied upon, largely due to adjustments
in hedge accounting.

GM's accounting adjustments under SFAS No. 133 are substantially
complete, although some work remains.  The current estimate of
the cumulative impact of these SFAS No. 133 adjustments to
retained earnings, including GMAC, as of Sept. 30, 2006, is an
increase of approximately US$200 million.

In addition, GM previously disclosed that retained earnings as
of Dec. 31, 2001, and subsequent periods were understated by a
range of US$450 million to US$600 million due to an
overstatement of deferred tax liabilities.

GM currently estimates that the deferred tax liability
overstatement is approximately US$1 billion.  This impact is
partially offset by an estimated US$500 million adjustment to
stockholders' equity related to taxation of foreign currency
translation, arising primarily prior to 2002, and affects all
periods through the third quarter of 2006.

The net impact of such tax adjustments results in an
understatement of stockholders' equity as of Dec. 31, 2001, and
subsequent periods of approximately US$500 million.

GM is currently working toward filing its Form 10-K with
restated financial information by the due date, March 1, 2007.
If necessary, it would expect to obtain an extension from the
SEC and file prior to the extended deadline, March 16, 2007.

GM does not expect these adjustments to have any material impact
on cash flow for any of the restated periods.

                     About General Motors Corp.

General Motors Corp. (NYSE: GM) -- http://www.gm.com/-- is the
world's largest automaker and has been the global industry sales
leader since 1931.  Founded in 1908, GM employs about 284,000
people around the world.  It has manufacturing operations in
33 countries and its vehicles are sold in 200 countries.  GM
sells cars and trucks under these brands: Buick, Cadillac,
Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab,
Saturn, and Vauxhall.

                          *     *     *

As reported in the Troubled Company Reporter-Europe on
Dec. 15, 2006, Standard & Poor's Ratings Services affirmed its
'B' corporate credit rating and other ratings on General Motors
Corp. and removed them from CreditWatch with negative
implications, where they were placed March 29, 2006.  S&P said
the outlook is negative.

As reported in the TCR-Europe on Nov. 16, 2006, Standard &
Poor's Ratings Services assigned its 'B+' bank loan rating to
General Motors Corp.'s proposed USUS$1.5 billion senior term
loan facility, expiring 2013, with a recovery rating of '1'.
The 'B+' rating was placed on Creditwatch with negative
implications, consistent with the other issue ratings of GM,
excluding recovery ratings.

At the same time, Moody's Investors Service assigned a Ba3,
LGD1, 9% rating to the proposed USUS$1.5 Billion secured term
loan of General Motors Corp.  The term loan will be secured by a
first priority perfected security interest in all of the U.S.
machinery and equipment, and special tools of GM and Saturn
Corp.


GRAFFITI HOLDINGS: Creditors Confirm Liquidator's Appointment
-------------------------------------------------------------
Creditors of Graffiti Holdings Ltd. confirmed on Feb. 7 the
appointment of Mark S. Goldstein of DCM Insolvency Service Ltd.
as the company's liquidator.

The liquidator can be reached at:

         Mark S. Goldstein
         DCM Insolvency Service Ltd.
         Kingswood Court
         21 Hemlock Close
         Kingswood
         Surrey
         KT20 6QW
         England


HAHA PURVEYING: Calls In Liquidators from Rendell Thompson
----------------------------------------------------------
Julian Clive Rendell of Rendell Thompson was appointed
liquidator of The Haha Purveying Co. Ltd. on Feb. 6 for the
creditors' voluntary winding-up proceeding.

The company can be reached at:

         The Haha Purveying Co. Ltd.
         69 High Street
         Wells
         Somerset
         BA5 2AG
         England
         Tel: 01749 673 916
         Fax: 01749 670 405


HPS PRINTING: Claims Filing Period Ends June 9
----------------------------------------------
Creditors of HPS Printing Ltd. have until June 9 to send in
their full names, their addresses and descriptions, full
particulars of their debts and claims, and the names and
addresses of their solicitors (if any), to:

         Nigel Fox
         Joint Liquidator
         Tenon Recovery
         Highfield Court
         Tollgate
         Chandlers Ford
         Eastleigh
         Hampshire
         SO53 3TZ
         England

Nigel Ian Fox and Carl Stuart Jackson of Tenon Recovery were
appointed joint liquidators of the company on Feb. 8.

Tenon Recovery -- http://www.tenongroup.com/-- provides
accounting and business advice to owner-managed and private
business.


ICE LIVE: Creditors' Meeting Slated for March 6
-----------------------------------------------
Creditors of Ice Live Ltd. will meet at 11:00 a.m. on March 6
at:

         Bond Partners LLP
         The Grange
         100 High Street
         London
         N14 6TB
         England

Creditors who want to vote at the meeting have until noon on
March 5 to submit their proxy forms together with particulars of
their claims or of any security at the said address.

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on March 2.

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.


INPAC UK: Claims Filing Period Ends April 8
-------------------------------------------
Creditors of Inpac U.K. Ltd. have until April 8 to prove their
debts by sending written statements of the amounts they claim to
be due to them from the company to:

         Paul John Clark
         Joint Liquidator
         Menzies C orporate Restructuring
         43-45 Portman Square
         London
         W1H 6LY
         England

Paul John Clark and Paul David Williams of Menzies Corporate
Restructuring were appointed joint liquidators of the company on
Feb. 8.

Menzies Corporate Restructuring -- http://www.menzies.co.uk/--  
provides corporate restructuring services including: services
for directors or stakeholders of troubled businesses; services
to Lenders of troubled businesses; raising rescue funding at
short notice; and forensic and fraud services.


INTIME PERCUSSION: Joint Liquidators Take Over Operations
---------------------------------------------------------
John Phillip Walter Harlow and Simon Gwinnutt of Smith Cooper
Chartered Accountants were appointed joint liquidators of Intime
Percussion Ltd. on Feb. 2 for the creditors' voluntary winding-
up proceeding.

The company can be reached at:

         Intime Percussion Ltd.
         167 London Road
         Leicester
         Leicestershire
         LE2 1EG
         England
         Te16 283 8888


JUST PINE: Creditors' Meeting Slated for February 27
----------------------------------------------------
Creditors of Just Pine Just Cane Ltd. will meet at 2:30 p.m. on
Feb. 27 at:

         The Orange Tree
         45 Kew Road
         Richmond
         Surrey
         TW9 2NQ
         England

Rina Rohilla of The Richmond Partnership will furnish creditors
with information concerning the company's affairs free before
the meeting of charge as they may reasonably require.


KEYCHECK LTD: Brings In Liquidators from PricewaterhouseCoopers
---------------------------------------------------------------
Edward Klempka and Ian Stokoe of PricewaterhouseCoopers LLP were
appointed joint liquidators of Keycheck Ltd. on Jan. 30 for the
creditors' voluntary winding-up procedure.

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:

         Keycheck Ltd.
         Choice House
         98 High West Street
         Gateshead
         Tyne and Wear
         NE8 1NA
         England
         Tel: 0191 478 7361
         Fax: 0191 478 5994


KINGSLEY MEDIA: Taps David Field to Liquidate Assets
----------------------------------------------------
David Field of Centrum Recovery was appointed liquidator of
Kingsley Media Ltd. on Feb. 7 for the creditors' voluntary
winding-up proceeding.

The company can be reached at:

         Kingsley Media Ltd.
         59 College Road
         Plymouth
         Devon
         PL2 1NT
         England
         Tel: 01752 519 747
         Fax: 01752 558 888


LECO ACCESSORIES: Creditors' Meeting Slated for February 23
-----------------------------------------------------------
Creditors of Leco Accessories (Chertsey) Ltd. will meet at 10:30
a.m. on Feb. 23 at:

         Salisbury House
         Station Road
         Cambridge
         CB1 2LA
         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 the said address.

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on Feb. 21.


LOGO MERCHANDISING: Taps Stephen Katz to Liquidate Assets
---------------------------------------------------------
Stephen Katz of Fisher Partners was appointed liquidator of Logo
Merchandising Ltd. (formerly Zipclass Ltd.) on Feb. 8 for the
creditors' voluntary winding-up proceeding.

The company can be reached at:

         Logo Merchandising Ltd.
         Tubs Hill Parade
         London road
         Sevenoaks
         Kent
         TN131DH
         England
         Tel: 01732 450 460


MARK ALDWORTH: Creditors' Meeting Slated for February 28
--------------------------------------------------------
Creditors of Mark Aldworth Roofing Ltd. will meet at 11:30 a.m.
on Feb. 28 at:

         Mazars LLP
         Regency House
         3 Grosvenor Square
         Southampton
         Hampshire
         SO15 2BE
         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.

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


MARKWELL PECK: Creditors' Meeting Slated for February 23
--------------------------------------------------------
Creditors of Markwell Peck Ltd. will meet at 11:30 a.m. on
Feb. 23 at:

         4th Floor
         Allan House
         10 John Princes Street
         London
         W1G 0AH
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge on Feb. 21.


MCDOWALL CONTRACTORS: Shuts Down Days After Calling in Receivers
----------------------------------------------------------------
McDowall Contractors Ltd. closed up shop less than a week after
going into receivership, cutting a total of 67 jobs, in the wake
of the receivers' failure to find a buyer for the company, BBC
News states.

TCR-Europe reported on Feb. 14 that McDowall Contractors had
gone into receivership leaving 46 employees jobless.  Kroll
Ltd., the company's receivers, said there was interest from
potential new owners.

McDowall Contractors, which is one of the largest in Lewis,
acquired three other companies there as part of its expansion.
However, it had to go into receivership because of financial
problems, BBC News relates.

Councilors have voiced their concerns that the company's demise
would be a major blow to the islands, BBC News reports.

                   About McDowall Contractors

Headquartered in the Isle of Lewis, McDowall Contractors Ltd. --
http://www.mcdowallcontractors.co.uk/-- is a civil engineering
firm serving the Western Isles in Scotland.  It went into
receivership on Feb. 14.


MIDDLESEX PUBLIC: Claims Filing Period Ends March 19
----------------------------------------------------
Creditors of Middlesex Public Golf Courses Ltd. have until
March 19 to send in their full names, their addresses and
descriptions, full particulars of their debts and claims, and
names and addresses of their solicitors (if any), to:

         S. J. Parker
         Joint Liquidator
         Tenon Recovery
         Sherlock House
         73 Baker Street
         London
         W1U 6RD
         England

S. J. Parker and T. J. Binyon of Tenon Recovery were appointed
joint liquidators of the company on Feb. 8.

Tenon Recovery -- http://www.tenongroup.com/-- provides
accounting and business advice to owner-managed and private
business.


NORTHERN WINDSCREEN: Hires Liquidator from Armstrong Watson
-----------------------------------------------------------
Michael Christian Kienlen of Armstrong Watson was appointed
liquidator of Northern Windscreens Ltd. on Feb. 8 for the
creditors' voluntary winding-up proceeding.

The company can be reached at:

         Northern Windscreens Ltd.
         Robert Street
         Carlisle
         Cumbria
         CA2 5AN
         England
         Tel: 01228 810 018


PLANET KIDS: Creditors' Meeting Slated for March 7
--------------------------------------------------
Creditors of Planet Kids (North West) Ltd. will meet at noon on
March 7 at:

         Milner Boardman & Partners
         Century House
         Ashley Road
         Hale
         Cheshire
         WA15 9TG
         England

Creditors who want to vote at the meeting have until noon on
Feb. March 6 to submit their proxy forms together with
particulars of their claims or of any security at the said
address.

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on March 5.

Milner Boardman -- http://www.milnerboardman.co.uk/-- provides
financial accounting and business advisory services.


RMF VENTILATION: D. R. Acland Leads Liquidation Procedure
---------------------------------------------------------
D. R. Acland of Begbies Traynor was appointed liquidator of RMF
Ventilation Ltd. on Feb. 8 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:

         RMF Ventilation Ltd.
         Stoneholme Business Centre
         42 High Street
         Bury
         Lancashire
         BL8 3AN
         England
         Tel: 0161 761 6099


RUSSELLTON LTD: Claims Filing Period Ends May 31
------------------------------------------------
Creditors of Russellton Ltd. (t/a Paramount Windows &
Conservatories) have until May 31 to send in their full names,
their addresses and descriptions, full particulars of their
debts or claims, and the names and addresses of their solicitors
(if any), to:

         E. Walls
         Liquidator
         Marlor Walls
         C12 Marquis Court
         Marquis Way
         Team Valley
         Gateshead
         NE11 0RU
         England

E. Walls of Marlor Walls was appointed liquidator of the company
on Feb. 9.

The company can be reached at:

         Russellton Ltd.
         4 Imperial Buildin gs
         Houghton Le Spring
         Tyne and Wear
         DH4 4DJ
         England
         Tel: 0191 584 3131


SATVISION PLC: Licensees Express Alarm on Possible Service Halt
---------------------------------------------------------------
Licensees of Satvision Plc remained unsure whether they could
still receive support from the financially troubled firm,
despite assurances of continued service, James Wilmore writes
for the Publican.

Handel Rich, who holds a license for the Stag Hotel, revealed he
had been unable to contact the company regarding his faulty
screen, The Publican relays.

In a TCR-Europe report on Feb. 15, Satvision Plc went into
liquidation on Feb. 5 after its major customers failed to pay
outstanding bills to the company.

Les Vigerstaff, former managing director Satvision, has assured
licensees that Satvision's service would be provided by another
company, Jpod Ltd.

"Our customers in the licensed trade will be given back-up," Mr.
Vigerstaff told The Publican.  "But we have no engineers at this
moment in time and there will be a period of two or three weeks
while we are sorting ourselves out."

Headquartered in Stockport, United Kingdom, Satvision Plc --
http://www.satvision.co.uk/-- provides a range of services &
solutions in Satellite and Audio-Visual Communications.

Satvision Plc went into liquidation on Feb. 5 after its major
customers failed to pay outstanding bills to the company.  Les
Vigerstaff, former managing director Satvision, said the company
suffered from a difficult cash flow problem in December
2006 and January 2007.


SCORPIO PRINT: Appoints Joint Administrators from KPMG
------------------------------------------------------
Howard Smith and Richard Dixon Fleming of KPMG LLP were
appointed joint administrators of Scorpio Print Finishers Ltd.
(Company Number 05736879) on Feb. 9.

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.

The company can be reached at:

         Scorpio Print Finishers Ltd.
         Richardshaw Road
         Grangefield Industrial Estate
         Pudsey
         West Yorkshire
         LS28 6QW
         England
         Tel: 0113 205 8400
         Fax: 0113 205 8405


SHEPHERD SECURITY: Taps Begbies Traynor as Joint Administrators
---------------------------------------------------------------
David R Acland and Steven J Williams of Begbies Traynor were
appointed joint administrators of Shepherd Security Systems Ltd.
(Company Number 04793489) on Jan. 26.

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

The company can be reached at:

         Shepherd Security Systems Ltd.
         Harbour Lane
         Warton
         Preston
         Lancashire
         PR4 1YB
         England
         Tel: 01772 633 722


SILKJET LTD: Claims Filing Period Ends March 31
-----------------------------------------------
Creditors of Silkjet Ltd., S Pla Realisations Ltd. and Link
Plastics Ltd. have until March 31 to prove their debts and send
their claims to:

         Neil Tombs
         Liquidator
         Grant Thornton U.K. LLP
         Enterprise House
         115 Edmund Street
         Birmingham
         B3 2HJ
         England

Grant Thornton U.K. LLP -- http://www.grant-thornton.co.uk/--  
provides value-added professional services as assurance
services, compensation and benefits, merger and acquisition
transaction services, management advisory services, tax
consulting and valuation services.


SIMON HORN: Brings In David Rubin to Administer Assets
------------------------------------------------------
Asher M iller and David Rubin of David Rubin & Partners were
appointed joint administrators of Simon Horn Furniture Ltd.
(Company Number 01614796) on Jan. 25.

David Rubin & Partners -- http://www.drpartners.com/--  
specializes in corporate and personal insolvency, recovery,
forensic accounting and litigation support.

The company can be reached at:

         Simon Horn Furniture Ltd.
         Mirabel House
         117-121 Wandsworth Bridge Road
         London
         SW6 2TP
         England
         Tel: 020 7736 1754
         Fax: 020 7736 3522


SOLUTIA INC: Wants to Implement 2007 Annual Incentive Program
-------------------------------------------------------------
Solutia Inc. and certain of its debtor-affiliates seek authority
from the U.S. Bankruptcy Court for the Southern District of New
York to implement their annual incentive program for 2007.

Solutia, with the advice and support of its Board of Directors;
the Board's Executive Compensation and Development Committee;
Hal E. Wallach, Jr., a principal at Mercer Human Resource
Consulting; and its major constituencies, developed the 2007 AIP
based on two performance measures: increased EBITDAR and
decreased working capital as a percentage of sales.

Solutia's senior management analyzed historical financial
results, projections for 2007 and other data to refine the
specific goals for each of Solutia's major business units.

The senior management also refined the specific metrics for the
emergence component of the 2007 AIP on the date of emergence and
enterprise value upon emergence.   The 2006 AIP was approved on
the condition that the 2007 AIP include a performance measure
for Mr. Quinn and certain of his direct reports related to the
Debtors' emergence from their Chapter 11 cases.

Based on the feedback provided by its major constituencies on
the emergence portion of the AIP, Solutia modified the
definition of "enterprise value" to reflect "distributable
value"; increased the minimum amount of distributable value
required to qualify under the emergence component; and added a
provision that allows the emergence annual incentive program
participants to share in any distributable value at emergence in
excess of the maximum target.

Jonathan S. Henes, Esq., at Kirkland & Ellis LLP, in New York,
relates that, with few exceptions, all of Solutia's employees
will participate in the 2007 AIP and have an opportunity to earn
a bonus if Solutia meets or exceeds its financial or operational
goals in 2007.

Bonuses will be paid from pools that will be established for
Solutia's corporate group and for each of Solutia's business
units -- Integrated Nylon, Saflex, CPFilms and Specialty
Products.

The portion of the bonus pool allocated to each metric can
exceed 100%, but the aggregate pool cannot exceed US$7,500,000.
Up to US$2,343,750 can be earned for the pool based on Earnings
Before Interest, Taxes, Depreciation and Amortization (EBITDA);
up to US$2,250,000 based on enterprise value; and up to
US$5,625,000 based on unsecured creditor recovery.

The funding of each business unit incentive pool and the core
function incentive pool will be 90% of all aggregate target
bonuses for individuals assigned to the pool multiplied by the
weighted average of pre-established funding factor for
achievement of specific objective performance parameters
relative to a targeted performance.

In addition, an overall corporate discretionary bonus pool will
be funded by the enterprise-level Earnings Before Interest,
Taxes, Depreciation, Amortization and Restructuring costs
(EBITDAR) performance relative to a pre-established target
performance.  The funding will be 10% of all aggregate target
bonuses multiplied by a pre-established funding factor.

The size of the emergence metric component of the AIP program
will be calculated by multiplying the eligible employee's target
emergence metric amount by a factor based on the emergence date
and the Company's adjusted enterprise value available for
distribution on the emergence date.  The metrics for 2007:

                 Core Pool and Business Pools

Unit                  Measure                            Weight
----                  -------                            ------
Core                  Enterprise EBITDAR                    75%
                      Enterprise Ave. Working Capital %     25%

Integrated Nylon      EBITDAR                               75%
                      Ave. Working Capital %                25%

Saflex                EBITDAR                               50%
                      Gross Margin %                        25%
                      Ave. Working Capital %                25%

CPFilms               Gross Profit                          75%
                      Ave. Working Capital %                25%

Other PPD             EBITDAR                               75%
                      Ave. Working Capital %                25%

                 Enterprise Discretionary Bonus Pool

Unit                  Measure                            Weight
----                  -------                            ------
All                   Enterprise EBITDAR                   100%

The emergence metric pool will be increased by an amount equal
to 3% of the total value greater than US$1,161,000,000.  The
bankruptcy emergence metric adjusted enterprise value available
for distribution is:

                      Q2 2007      Q3 2007      Q4 2007
                      -------      -------      -------
     US$737,000,000      1.0x         0.9x         0.8x
     US$837,000,000      1.2x         1.1x         1.0x
     US$937,000,000      1.4x         1.3x         1.2x
   US$1,037,000,000      1.6x         1.5x         1.4x
   US$1,099,000,000      1.8x         1.7x         1.6x
   US$1,161,000,000      2.0x         1.9x         1.8x

Awards based on the 50% of the emergence metric will be paid out
no later than 10 days after the emergence date.  Awards based on
the performance metric and the remaining 50% of the emergence
metric will be paid out no later than two and a half months
after the close of the calendar year 2007.  An employee who has
a component of their annual incentive program award comprised of
the emergence metric will be entitled to his award even if his
employment is terminated on or after the emergence date, or if
the emergence employee is terminated without cause before the
emergence date.

A copy of the emergence bonus plan is available for free at:

               http://researcharchives.com/t/s?19e7

                        About Solutia Inc.

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).


SOLUTIA INC: Various Parties React to Exclusivity Extension
-----------------------------------------------------------
Various parties filed with the U.S. Bankruptcy Court for the
Southern District of New York responses with regards to Solutia
Inc. and its debtor-affiliates' 10th motion for further
extension of their exclusive periods to file a plan of
reorganization through and including April 30 and to solicit
acceptances of that plan through and including June 29.

                         Objections

(1) Monsanto

Monsanto Co. does not oppose the Debtors' request for a further
extension of their exclusive periods to file, and solicit
acceptances of, a reorganization plan.  Monsanto, however, notes
the Debtors' extension request makes clear that the Chapter 11
cases are mired in unresolved litigation among parties who have
been unable to settle, John C. Longmire, Esq., at Willkie Farr &
Gallagher LLP, in New York, says.

Notwithstanding the Debtors' efforts, it remains that progress
in their cases is unlikely unless and until the Court rules on
the pending litigation regarding re-collateralization of the
Debtors' unsecured bonds, Mr. Longmire asserts.

"[T]he clarity and definition a ruling would bring is essential
to establish a common sense of reality -- a shared context for
discussion -- in these cases," Mr. Longmire points out.  The
Debtors and other parties have resorted to, and often abandoned,
various unorthodox alternative strategies in the hope for
movement, and have cost the estates millions of dollars each
month in unnecessary professional fees, he contends.

(2) Retirees Committee

The Official Committee of Retirees supports the proposed
extension.  Daniel D. Doyle, Esq., at Spencer Fane Britt &
Browne LLP, in St. Louis, Missouri, notes that the holding
pattern in the Debtors' cases is caused primarily by a
recalcitrant Ad Hoc Bondholder Committee whose members buy and
sell their positions often enough to create a moving target for
negotiation or resolution.

The Debtors' attempts to resolve the dispute over de-
securitization of Bondholder debt most likely will be fruitless,
particularly when intractable Bondholders continue to decline to
negotiate directly with the Debtors, Mr. Doyle maintains.

The Court should promptly enter judgment in the adversary
proceeding and determine whether the Bondholders are secured
and, if so, the value of their secured claims under Section 506
of the Bankruptcy Code, Mr. Doyle suggests.  The adjudication
would remove uncertainties about the allegedly Bondholder
secured claims, allow more definitive Plan treatment of the
claims, accelerate Solutia toward reorganization, and leave only
the Committee of Equity Security Holders of Solutia, Inc.'s
dispute to be resolved, he adds.

(3) Noteholders Committee

The Ad Hoc Committee of Solutia Noteholders asks the Court to
deny the requested extension.  The Debtors' request is not
supported by real progress in the Chapter 11 cases, and the
justifications given for extending exclusivity are hollow,
argues Bennett J. Murphy, Esq., at Hennigan, Bennett & Dorman
LLP, in Los Angeles, California.

Mr. Murphy asserts that the Debtors need to fully abandon their
partisan posture respecting the adversary proceeding commenced
by the Official Committee of Equity Security Holders against
JPMorgan Chase Bank, as indenture trustee.  To advance toward a
confirmable compromise plan, the Debtors need to advance a
proposal that fairly reflect the vulnerabilities of their
partisan position, he says.

The Debtors, according to Mr. Murphy, also need to seek
concessions from all constituencies on a fair and equitable
basis, rather than ask for sacrifices from some, but not all
parties.  He points out that the Debtors' November 2006 term
sheet called for no sacrifice from general unsecured creditors,
instead they would receive a substantially higher recovery
compared to the February lien-stripping Plan.

In response to the November term sheet, the Noteholders
continued their efforts to seek out a basis for a consensual
plan by initiating and continuing a dialogue with Monsanto, the
other major stakeholder in the Debtors' Chapter 11 cases.

The Debtors have lost focus and still have no effective strategy
to lead the Plan process, Mr. Murphy contends.  A standalone,
consensual plan should remain the central goal, he asserts.

The Debtors have repeatedly emphasized the difficulty and
complexity of legacy liability issues in promoting the so-called
"global settlement," Mr. Murphy notes.  The addition of a
potential acquirer only multiplies the complexities and
increases the difficulties.

An indicative bid is not actually a bid as the term is used in
normal discourse, but merely an expression of an interest in
possibly making one later, Mr. Murphy relates, referring to the
Debtors' statement of having received indicative bids in
December.  The Debtors do not state that any of the parties who
submitted the indications of interest by the deadline of nearly
two months ago thereafter actually followed through the bid, he
argues, nor have the Debtors set a deadline for bids to be made.

Mr. Murphy suggests that the Court provide the parties guidance
as to when a ruling may be expected on the JPMorgan Adversary
Proceeding, and when the Court would require the parties to
proceed to trial in the Official Committee of Equity Security
Holders' adversary proceeding against Monsanto and Pharmacia
Corp.  The prospect of an upcoming ruling in the adversary
proceeding and the prospect of trial in the case would encourage
parties to "pick up the pace," he tells the Court.

                 Creditors Committee's Statement

Solutia's Official Committee of Unsecured Creditors relates that
the mediation, which commenced on Nov. 9, 2006, by Monsanto,
Pharmacia and the Equity Committee on the issues in dispute in
connection with the Equity Committee Adversary Proceeding, upon
information and belief, has been suspended to examine
alternative emergence scenarios.

The Creditors Committee believes that the Debtors' current
request for extension should be accompanied by a direction from
the Court that the parties-in-interest to the JPMorgan Adversary
Proceeding, including the Debtors, Monsanto, Creditors
Committee, Bondholders Committee and the Ad Hoc Trade Committee,
participate in a compulsory formal 30-day mediation process.

Despite some sporadic one-off negotiations between various
parties to the JPMorgan Adversary Proceeding, Daniel H. Golden,
Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York, says
that there has yet to be any substantive negotiations or a
single meeting that included all the relevant parties.

A resolution of the Debtors' Chapter 11 cases is significantly
more difficult without a consensual settlement of the issues
raised in the JPMorgan Adversary Proceeding, Mr. Golden tells
the Court.

In the event that the mediation proves unsuccessful at the
conclusion of the 30-day period, the Creditors Committee will
join in Monsanto's and the Retirees Committee's request for an
immediate ruling in the JPMorgan Adversary Proceeding.

                     Court Enters Bridge Order

Following the filing of the various parties' responses, the
Honorable Prudence Carter Beatty entered a bridge order wherein:

    -- the Exclusive Filing Period is extended to the date on
       which the Court enters an order determining the Debtors'
       extension request, at which time the Court may extend the
       Exclusive Filing Period to April 30; and

    -- the Exclusive Solicitation Period is extended to the date
       60 days after the Court enters an order determining the
       Debtors' extension request, at which time the Court may
       extend the Exclusive Solicitation Period to June 29.

           Reasons for the Exclusivity Extension Motion

Representing the Debtors, Jonathan S. Henes, Esq., at Kirkland &
Ellis LLP, in New York, as reported in the TCR-Europe on Feb. 5
told the Court that the Debtors have used the previous
extensions of their Exclusive Periods to make significant
progress on three potential paths to:

   (1) seek confirmation of a modified version of a Global
       Settlement, which would provide the 2027 and 2037
       noteholders a higher percentage recovery than the general
       unsecured creditors to resolve the JPM Adversary
       Proceeding;

   (2) work on another potential plan that would be funded by
       the proceeds from the sale of the equity of reorganized
       Solutia; and

   (3) analyze the viability of an alternative plan to sell
       certain businesses, use the cash proceeds from the sales
       to satisfy liabilities and pay creditors, and reorganize
       around the remaining businesses.

Mr. Henes disclosed that in late November 2006, the Debtors
prepared and provided a proposal for the Equity Premium Plan to
its major stakeholders.  In addition, beginning in late November
2006, the Debtors began a month-long sales process, during which
it contacted 18 potential purchasers and obtained indications of
interest from six of them.  He stated that the Debtors are
continuing to work with the parties that submitted the bids and
its stakeholders to develop the Sale Plan.

Moreover, Mr. Henes said that the stakeholders whose claims were
not satisfied in cash would receive the equity of the
reorganized company pursuant to the Modified Sale Plan.

Jeffry N. Quinn, Chairman, President and Chief Executive Officer
of Solutia, attested that the company has stabilized and
improved its businesses, maximized the value of the estate, and
provided for a fair distribution of value to its creditors by
implementing its four-part strategy, in which:

   (a) Solutia improved its financial operating performance by
       recruiting a new management team that instilled greater
       commercial discipline across all business lines, achieved
       greater operating performance in its plants, reduced
       overhead costs, and used the Chapter 11 process to reject
       unfavorable contracts;

   (b) Solutia has improved the quality of its asset portfolio;

   (c) Solutia addressed its legacy liabilities by negotiating
       an agreement in principle that reallocated the majority
       of them back to Monsanto Company; and

   (d) Solutia is working to ensure that it has a competitive
       capital structure upon emergence by pursuing a plan of
       reorganization that would leave the company with a much
       improved and reasonably competitive balance sheet.

Mr. Quinn related that Solutia has reached an agreement in
principle with Monsanto and the Official Committee of Unsecured
Creditors in June 2005.  Solutia also negotiated a comprehensive
settlement with the Official Committee of Retirees, providing
for a US$175,000,000 trust for the benefit of the company's
20,000 retirees in exchange for significant reductions in future
retiree medical and life insurance obligations.

Mr. Quinn stated, however, that the Plan confirmation process
was stalled because:

   (i) two pending adversary proceedings were commenced by (x)
       the Official Committee of Equity Security Holders against
       Monsanto and Pharmacia Corp. in March 2005, and (y)
       JPMorgan Chase Bank, as indenture trustee, against
       Solutia in May 2005; and

  (ii) many of the stakeholders with whom Solutia negotiated the
       Global Settlement are no longer involved in the
       bankruptcy cases, and the successors want to negotiate a
       new deal.

Mr. Quinn stated that Solutia is currently working to
renegotiate an amended plan with the new constituents.  However,
the renegotiation has proved challenging because the new
constituents have a different set of perspectives and
expectations than their predecessors, Mr. Quinn told Judge
Beatty.

Furthermore, Mr. Quinn averred that even if the Debtors were to
reach an agreement now with their stakeholders on the Proposal
or with a potential purchaser under the Sale Plan or Modified
Sale Plan, the Debtors would still not be able to confirm an
amended plan by Feb. 13.

Mr. Henes asserted that extension of the Exclusive Periods is
necessary and appropriate for the Debtors to work out a deal
under any of the Emergence Paths.  Mr. Henes maintains that any
additional extension would not pressure creditors, but rather
would provide the Debtors with the time to continue their
efforts to good-faith negotiations between and among their
stakeholders, without any one stakeholder exerting unwarranted
leverage over negotiations.

Furthermore, Mr. Henes contended that an exclusivity extension
is necessary to allow for a Plan confirmation without a final,
non-appealable judgment in the JPMorgan Adversary Proceeding.
Similarly, the Equity Committee Adversary Proceeding must be
resolved before a plan can be approved because of its impact on
the Global Settlement, he maintains.

Mr. Henes assured the Court that no party will be prejudiced by
an extension of the Exclusive Periods because Solutia is paying
its debts as they become due, as supported by the Debtors'
Court-approved US$1,225,000,000 of debtor-in-possession
financing.

Mr. Henes maintained that if Solutia loses exclusive control of
the plan process, it could jeopardize the Global Settlement,
which is necessary to any plan of reorganization.  Any
disruption in Solutia's control over the plan process could be
debilitating and distract Solutia from moving forward with its
reorganization efforts, he pointed out.

                        About Solutia Inc.

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).


SOUTH COAST: Names Joint Administrators from Portland Business
--------------------------------------------------------------
James Richard Tickell and Carl Derek Faulds of Portland Business
& Financial Solutions Ltd. were appointed joint administrators
of South Coast Environmental Services Ltd. (Company Number
3267874) on Feb. 2.

The administrators can be reached at:

         James Richard Tickell and Carl Derek Faulds
         Portland Business & Financial Solutions Ltd.
         1640 Parkway
         Solent Business Park
         Whiteley
         Fareham
         Hampshire
         PO15 7AH &n bsp;
         England
         Tel: 01489 550 440
         E-mails: carl.faulds@portland-solutions.co.uk
                  james.tickell@portland-solutions.co.uk

The company can be reached at:

         South Coast Environmental Services Ltd.
         Unit 23
         Arnside Road
         Waterlooville
         Hampshire
         PO7 7UP
         England
         Tel: 023 9223 1300
         Fax: 023 9226 1900


SPORT VENDING: Creditors Confirm Liquidator's Appointment
---------------------------------------------------------
Creditors of Sport Vending Ltd. confirmed on Feb. 2 the
company's resolutions for voluntary liquidation and the
appointment of Stephen M. Katz of Fisher Partners as liquidator.

The company can be reached at:

         Sport Vending Ltd.
         Unit 4a Broomvale Business Centre
         Bramford Road
         Little Blakenham
         Ipswich
         Suffolk
         IP8 4JU
         England
         Tel: 01276 670 781


STOREYS INDUSTRIAL: Appoints Baker Tilly as Joint Administrators
----------------------------------------------------------------
Bruce MacKay and Nigel Miller of Baker Tilly were appointed
joint administrators of Storeys Industrial Products Ltd.
(Company Number 1654315) on Jan. 29.

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

The company can be reached at:

         Storeys Industrial Products Ltd.
         Brantham Wks
         Brantham
         Manningtree
         Essex
         CO11 1NJ
         England
         Tel: 01206 392 401
         Fax: 01206 395 288


STREET FINANCE: Fitch Upgrades GBP10.4-Mln Class E Notes to BB+
---------------------------------------------------------------
Fitch Ratings upgraded four Classes of Fleet Street Finance One
Plc's commercial mortgage-backed floating-rate notes due 2014
and affirmed the remaining one, as follows:

   -- GBP83.3 million Class A affirmed at 'AAA'
   -- GBP13.3 million Class B upgraded to 'AA+' from 'AA'
   -- GBP12.6 million Class C upgraded to 'AA' from 'A+'
   -- GBP12.4.7 million Class D upgraded to 'BBB+ from 'BBB' and
   -- GBP10.4 million Class E upgraded to 'BB+' from 'BB'

The rating actions follow a review of the quarterly performance
report as of January 2007.  The upgrades reflect the increase in
credit enhancement as a result of the prepayment of two of the
three loans backing the rated notes since closing in August
2005.  The prepaid loans are the Four Seasons and Swift.  The
remaining loan, Queen Moat House, whose original balance
amounted to GBP223 million partially prepaid to
GBP131.9 million.

Following the total repayment of GBP527.3 million, which has
been applied 70% sequentially and 30% pro-rata on the
investment-grade rated notes, credit enhancement levels improved
considerably to 36.7%, 26.6%, 17.4% and 7.9% from 31.7%, 21.3%,
11.3% and 1.6% at closing for Classes A,B,C and D respectively.

The QMH loan is performing in line with Fitch's expectations. At
origination the loan was collateralized by a pool of 28 hotels
distributed across the U.K. and with a total market value of
GBP411.1 million.  Since closing, 13 hotels have been sold and
the market value of the portfolio is now GBP253.1 million with a
loan to value ratio of 52.1%, slightly below the 54.2% at
closing.  Following the disposal of the 13 hotels, the annual
revenues went down to GBP45.3 million in January 2007 from
GBP67.0 million in 2004, but at the same time the interest
coverage ratio improved to 2.81x from 2.67x at closing.

Fleet Street is a securitization of a portfolio of three
commercial mortgage loans originated in the U.K. by Goldman
Sachs International.  The loans are secured by a portfolio of
156 properties located in England, Scotland, Wales, Northern
Ireland, Jersey and the Isle of Man.  The majority of income at
underwriting was generated from the QMH and Four Seasons
portfolios, with the remaining 8% coming from the Swift
portfolio.


SURVEY INSPECTION: Names William Paxton as Administrator
--------------------------------------------------------
William Paxton of Robson Laidler LLP was named administrator of
Survey Inspection Systems Ltd. (Company Number 04680680) on
Jan. 24.

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:

         Survey Inspection Systems Ltd.
         Eaglescliffe Logistics Centre
         Durham Lane
         Eaglescliffe
         Stockton on Tees
         Cleveland
         TS16 0RW
         England
         Tel: 01642 787 839
         Fax: 01642 785 005


TERABYTE COMPUTER: Names Tracy Ann Taylor Liquidator
----------------------------------------------------
Tracy Ann Taylor of Abbey Taylor Ltd. was appointed liquidator
of Terabyte Computer Solutions Ltd. on Feb. 7 for the creditors'
voluntary winding-up proceeding.

The company can be reached at:

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


TISCALI UK: Posts 44% Group EBITDA Hike to EUR100.1 Mln in 2006
---------------------------------------------------------------
Tiscali Group disclosed its pro-forma preliminary results for
the year ending Dec. 31, 2006, which confirm the financial
targets delivered to the market set on October 2006.

In detail, full year 2006 revenues of the Group stood at
EUR678.5 million, up 28% on equal perimeter versus full year
2005 and broadly consistent with the business plan targets.
Revenues of EUR445 million came from the U.K. subsidiary, up 37%
compared to 2005.  In 2006 revenues in Italy stood at
EUR217 million, up 15% compared to 2005.

The Gross Operating Result (EBITDA) of the Group for 2006
outperformed the business plan targets and stood at
EUR100.1 million, up 44% compared to 2005.  EBITDA margin
increases from 13% to 15% of revenues.

Tiscali Italy closed 2006 with EBITDA at EUR39.7 million, up 40%
compared to 2005.

Tiscali U.K.'s EBITDA for 2006 stood at EUR80.8 million, up 14%
compared to 2005.  Profitability of the U.K. subsidiary is also
affected by Video Networks consolidation, whose synergies will
have an impact starting from year 2007.

As of Dec. 31 2006, Tiscali Group had around 3.5 million active
users, of which 1.9 million were broadband customers (up 50%
compared to 2005), in line with the targets of the business
plan.  Total direct customers (ULL) were five fold the same
period, reaching about 584,000 unbundling customers.

Investments during 2006, over EUR200 million, allowed to reach
and activate about 420 sites in the United Kingdom (34% of the
market) and about 440 sites in Italy (30% of the market).

The reported figures are preliminary results still subject to
potential changes by Tiscali's Board of Directors called to
approve the draft of the 2006 Annual Financial Statement on
March 20.

As announced during the business plan presentation, Tiscali U.K.
revealed its IPTV commercial offer, available from the 1st of
March and on Tiscali U.K.'s entire unbundled local loop network
by the end of 2008.  The offer -- 19.99 pounds per month for the
'triple play' package -- reflects Tiscali's philosophy, which
considers the TV offer as complementary to the broadband, access
and voice services, with the chance for users to choose premium
contents in addition to the base package.

                          New Financing

After conclusion of the disposal process with the sale of its
German assets for over EUR48 million, and after payment of all
existing bonds with the reimbursement last September of the
Equity-Linked bond, Tiscali Group has signed the credit line
agreement granted by Banca Intesa Sanpaolo for EUR280 million,
which will be mostly used to repay the existing Silver Point
financing. Initial rate, at Euribor + 250 base points, and the
other conditions of the credit line granted by Banca Intesa
Sanpaolo, substantially improve the terms of the current
facility granted by Silver Point.  Drawdown is scheduled by the
end of February 2007.

Moreover, Tiscali Group has completed the operation of "sale and
lease back" of the building located in Cagliari, headquarter of
the Group.  On the bases of this operation, Tiscali Group gives
property of its headquarter in Cagliari to a pool of lenders,
including Centro Leasing, Intesa Leasing and Locat, for a total
consideration of EUR61 million, keeping its use and paying an
annual rent for 15 years, calculated at about Euribor rate +140
base points.

Tiscali Group at the end of the 15-year period can buy back the
building. After the mortgage re-payment and other costs, the
operation generates net cash for the Group of EUR27 million.
Consultbank and Kyberlease srl acted as advisers to Tiscali.

                        About Tiscali

Headquartered in Cagliari, Italy, Tiscali S.p.A. --
http://www.tiscali.com/-- offers Internet access in the
country.  The group also operates in other European countries,
serving more than seven million subscribers, of which over 1.5
million are broadband users.  It has sold non-core assets to
raise money to cover a EUR250 million bond that matured in July.
Former chairman and founder Renato Soru owns almost 30% of the
company.

As reported in the TCR-Europe on Oct. 13, 2006, Tiscali's Board
of Directors of Tiscali approved a new three-year plan for 2007-
2010, which calls for the concentration of its core business in
Italy and in the United Kingdom.

                          *     *     *

In a TCR-Europe report on Dec. 1, 2006, Fitch Ratings placed
Italy-based Tiscali S.p.A.'s Issuer Default rating of CCC on
Rating Watch Positive.

Upon receipt of EUR255 million in proceeds from the sale of its
Tiscali Netherlands subsidiary, expected to occur on first
quarter 2007, the agency anticipates that the Rating watch will
be resolved and the IDR will be upgraded to B- from CCC.  At the
same time, the agency has affirmed the Short-term rating at C
and simultaneously withdrawn it.


TRAVELLERS WAY: Brings In Vincen Simmons to Administer Assets
-------------------------------------------------------------
Vincent A. Simmons of Bennett Verby was appointed administrator
of Travellers Way Ltd. (t/a Secret Destinations) (Company Number
2648744) on Jan. 28.

The administrator can be reached at:

         Vincent A. Simmons
         Bennett Verby
         7 St Petersgate
         Stockport
         Cheshire
         SK1 1EB
         England
         Tel: 0161 477 9345
         Fax: 0161 429 7224
         E-mail: v.simmons@bennettverby.co.uk

The company can be reached at:

         Travellers Way Ltd.
         The Barns
         Hewell Lane
         Tardebigge
         Bromsgrove
         Worcestershire
         B60 1LP
         England
         Tel: 01527 559 000
         Fax: 01527 836 159


VIBRACRAFT LTD: Creditors' Meeting Slated for March 1
-----------------------------------------------------
Creditors of Vibracraft Ltd. will meet at 10:30 a.m. on March 1
at the offices of:

         Parkin S. Booth & Co.
         20 Winmarleigh Street
         Warrington
         WA1 1JY
         England

Paul James Fleming 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.


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

The company can be reached at:

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


WIGSTON DIRECT: Claims Filing Period Ends March 16
--------------------------------------------------
Creditors of Wigston Direct Marketing Services (Leicester) Ltd.
(formerly Vertis Direct Marketing Services (Leicester) Ltd.)
have until March 16 to send in their names, addresses and
descriptions, full particulars of their debts or claims, and the
names and addresses of their solicitors (if any), to:

         Andrew Andronikou
         Joint Liquidator
         UHY Hacker Young
         St. Alphage House
         2 Fore Street
         London
         EC2Y 5DH
         England

Andrew Andronikou and Peter Alan Kubik of UHY Hacker Young were
appointed joint liquidators of the company on Oct. 10, 2006.

The company can be reached at:

         Wigston Direct Marketing Services (Leicester) Ltd.
         6-12 Chartwell Drive
         Wigston
         Leicestershire
         LE182FL
         England
         Tel: 0116 288 1000
         Fax: 0116 288 2828


WILLIAM DUNK: Creditors Confirm Voluntary Liquidation
-----------------------------------------------------
Creditors of William Dunk Flooring Ltd. confirmed on Feb. 6 the
company's resolutions for voluntary liquidation and the
appointment of John Russell and Allan Cooper of The P&A
Partnership as liquidators.

The P&A Partnership (aka Poppleton and Appleby) --
http://www.thepandapartnership.com/-- acts for all clearing
banks and a growing number of factors and asset lenders.  Its
clients include multinational PLCs, SMEs, financial
institutions, accountants, solicitors and business advisors

The company can be reached at:

         William Dunk Flooring Ltd.
         The Coach House
         Hallow Park
         Hallow
         Worcester
         Worcestershire
         WR2 6PG
         England
         Tel: 01905 640 699
         Fax: 01905 640 899

                           *********

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.


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