TCREUR_Public/070312.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

             Monday, March 12, 2007, Vol. 8, No. 50

                            Headlines


A U S T R I A

111%PRODUKTIONS: Claims Registration Period Ends April 10
ARI KEG: Claims Registration Period Ends April 10
BAWAG PSK: European Commission Okays Sale to Cerberus Consortium
BEST ELEKTRO: Claims Registration Period Ends April 3
CLASSICO LLC: Klagenfurt Court Orders Business Shutdown

HORVAT-FERTIGHAUSER: Claims Registration Period Ends April 3
NGTC LLC: Claims Registration Period Ends March 30
TECHNICUM 2000: Claims Registration Period Ends March 22
WET SYSTEME: Claims Registration Period Ends April 10


B E L G I U M

HUDSON HIGHLAND: Will Restate 2006 & 2005 Financial Results
RELIANCE STEEL: Earns US$354.5 Million in Full Year 2006
TENNECO INC: Earns US$51 Million in Year Ended December 31, 2006


B U L G A R I A

LUKOIL BULGARIA: Files BGN89.6-Mln Claims Suit vs Petrol Holding


D E N M A R K

BLOCKBUSTER INC: Earns US$54.7 Million in Full Year 2006


F R A N C E

ALCATEL-LUCENT: CEO Predicts Revenue Growth During Restructuring
DELPHI CORPORATION: Files Registration Statement With SEC
RHODIA SA: Selling 50% Stake in Nylstar for EUR1
SOCIETE FONCIERE: S&P Withdraws BB+/B Ratings Per Request


G E R M A N Y

A. MUELLER & SOEHNE: Claims Registration Ends April 23
ADVANCED DESIGN: Claims Registration Period Ends April 13
ANTON PETER: Creditors' Meeting Slated for April 12
AUTO KORZ: Creditors Must Register Claims by April 5
BAB STAHLHANDELS: Creditors' Meeting Slated for April 17

BLASCHKE GMBH: Claims Registration Period Ends May 4
CHEVALIER SICHERHEIT: Claims Registration Period Ends June 1
CREAMWARE AUDIO: Claims Registration Period Ends April 20
DAIMLERCHRYSLER AG: Shareholders Want Chrysler Deal Investigated
DAIMLERCHRYSLER AG: Magna Set to Visit Chrysler Headquarters

DAIMLERCHRYSLER AG: Sells EUR2-Bln 4.375% Bonds Due March 2010
DRITTE SQUASH: Claims Registration Period Ends April 14
ECOSUN TECHNOLOGY: Claims Registration Period Ends April 16
FCR HANDEL: Claims Registration Period Ends April 30
FORELLENHOF ROBERT: Claims Registration Ends April 13

HAMMERMEISTER GMBH: Claims Registration Ends April 20
HARMAN BACKEREI: Creditors' Meeting Slated for April 26
JOHANNES SCHULMEISTER: Claims Registration Ends May 2
JUNGELS ZAHNTECHNIK: Claims Registration Ends April 25
OPTIMA LOGISTICS: Claims Registration Ends April 28

PETERSHANS & BETZLER: Claims Registration Ends April 13
PETERSHANS GMBH: Claims Registration Ends April 13
PETZOLD DER FRISEUR: Claims Registration Ends April 19
PROFISOFT VERTRIEBSGESELLSCHAFT: Creditors' Claims Due April 20
PROSIEBENSAT.1 MEDIA: Closes Share Purchase Agreement

PROTEK GMBH: Creditors Must Register Claims by April 10
RAUMGESTALTUNG ENDRES: Creditors Must File Claims by April 15
REGENT ZIEGELHAUS: Creditors Must Register Claims by July 18
RENNSTEIGTOUR REISE: Claims Registration Ends May 4
S & N BAU: Claims Registration Ends April 20

SANITATSHAUS ULM: Creditors' Meeting Slated for March 29
SCHARF BAUGESCHAFT: Claims Registration Ends May 7
TIEDEMANN GMBH: Claims Registration Period Ends April 12
VERMIETUNGSGESELLSCHAFT MBH: Claims Registration Ends March 13
VISTEON CORP: Posts US$163 Million Net Loss in Full-Year 2006

W & W ALTENBURGER: Claims Registration Period Ends April 13
WIMA-GASTRONOMIE: Claims Registration Period Ends April 18
ZIMMER& SOEHNE: Claims Registration Period Ends May 23


I R E L A N D

AFFILIATED COMPUTER: Earns US$72.1 Mln in Quarter Ended Dec. 31
AFFILIATED COMPUTER: S&P Upgrades Corporate Credit Rating to BB
HARVEST CLO: Fitch Assigns BB Rating to EUR26-Mln Class E Notes


I T A L Y

ALITALIA SPA: Deutsche Lufthansa Not Eyeing Company
TK ALUMINUM: Noteholders Agree to Amend Sr. Note Indenture


K Y R G Y Z S T A N

RIVERA LLC: Creditors' Meeting Slated for March 19
TRANS-ENERGO LLC: Claims Filing Period Ends April 20


N E T H E R L A N D S

GETRONICS NV: Moody's Confirms Junk Rating on 2008 Bonds
NEPTUNO CLO: Moody's Rates EUR26-Mln Class E Notes at (P)Ba3


P O L A N D

OCHRONY SRODOWISKA: Fitch Affirms D Individual Rating


R U S S I A

BALANKULSKOYE CJSC: Creditors Must File Claims by April 17
BEL-OBL-SEL-KHOZ-MONTAZH: Creditors Must File Claims by March 17
ETNA HOLDING: Creditors Must File Claims by March 17
HYDROSTROITEL OJSC: Udmurtiya Court Hearing Slated for June 8
KANELOVSKOYE OJSC: Creditors Must File Claims by March 17

KONYSHEVSKIY HEMP: Court Starts Bankruptcy Supervision Procedure
MASLOVO-PRISTANSKIY BRICKWORKS: Claims Filing Due by March 17
NEW WAY: Orel Court Names M. Enukashvili as Insolvency Manager
NIKOM CJSC: Creditors Must File Claims by March 17
OAO LUKOIL: Bulgarian Unit Sues Petrol Holding for BGN90 Million

ORSKAYA GARMENT: Creditors Must File Claims by April 17
OSTROGOZHSKAYA DRYING: Creditors Must File Claims by March 17
SBERBANK ROSSII: Shareholders Acquire 46.96% of IPO Shares
SERDOBSKIY OJSC: Asset Sale Slated for March 20
TAMBOV-POLYMER-MASH: Creditors Must File Claims by April 17

TRANSPORT BUILDER: Creditors Must File Claims by March 17
URAL BANK: Asset Growth Cues S&P to Raise Junk Rating to B-
VOLGOGRAD-FISH-KOM: Court Names V. Khmelev as Insolvency Manager
YUKOS OIL: Russia Raids PwC Office as Part of Criminal Probe


S L O V A K   R E P U B L I C

US STEEL: CEO Accepts China's Plan to Close Plants a "Good Step"


S W I T Z E R L A N D

ANIMEX JSC: Creditors' Liquidation Claims Due March 28
BATIGESTION LLC: Creditors' Liquidation Claims Due March 26
CHEMISCHES LABORATORIUM: Liquidation Claims Due March 28
CLIVIA-VERTRIEBS LLC: Creditors' Liquidation Claims Due March 26
DECOMA JSC: Creditors' Liquidation Claims Due March 31

HANS SPECK: Creditors' Liquidation Claims Due March 28
HERCULES INC: Earns US$238.7 Million in Full Year 2006
J. RITTMEYER: Creditors' Liquidation Claims Due March 30
LAST IN SPACE: Zug Court Closes Bankruptcy Proceedings
P + S THOMMEN: Creditors' Liquidation Claims Due March 26

SENNTECH CONVERTING: Creditors' Liquidation Claims Due March 23


U K R A I N E

ARBIS LLC: Proofs of Claim Filing Deadline Set March 15
DONETS LLC: Creditors Must File Proofs of Claim by March 15
PAPER TRADE: Creditors Must File Proofs of Claim by March 15
PROVISION AND DELIVERY: Creditors Must File Claims by March 15
VOSHOD LLC: Proofs of Claim Filing Deadline Set March 15


U N I T E D   K I N G D O M

ALPINE COLD: Appoints KPMG as Joint Administrators
AP HYDRAULICS: Claims Filing Period Ends March 30
APW ELECTRONICS: Royal Bank Taps Kroll as Joint Receivers
BOOKWORLD: Administrator Picks The Works as Preferred Bidder
BRITISH AIRWAYS: Eyes 5-6 Percent Revenue Increase in 2007-2008

CAFE INTERIORS: Claims Filing Period Ends May 20
CALENDAR WORLD: Names Elizabeth Arakapiotis Liquidator
CAMROSE CONSULTANTS: Appoints Mark Willis as Liquidator
CARRISBROOK LTD: Taps Vincent A. Simmons to Liquidate Assets
CLAYTIME LTD: Creditors' Meeting Slated for March 14

COLLINS & AIKMAN: Can File JCI Agreement Under Seal
COLLINS & AIKMAN: Judge Rhodes Okays Macher Separation Pact
CORNERSTONE TITAN: Fitch Assigns BB Rating to Class G Notes
CRAY VALLEY: Claims Filing Period Ends April 30
CREATIVE PAVING: Appoints Robert Day as Liquidator

DANTI SOFT: Creditors' Meeting Slated for March 19
DECO 14: S&P Rates EUR11.94-Mln Class G Notes at BB
DELIVERY TODAY: Hires Liquidator from Rendell Thompson
DISPLAY OPTIONS: Claims Filing Period Ends April 20
ENCOMPASS SOLUTIONS: Brings In Liquidator from Findlay James

FORD MOTOR: Mulls Performance Bonuses to Salaried Workers
HANOVER COMPRESSOR: Earns US$86.52 Million in Full Year 2006
HENRY WHITE: Brings In Joint Administrators from KPMG
HOPKINSON CATERING: Taps KPMG to Administer Assets
INTERNATIONAL PAPER: Earns US$1.05 Billion in Full Year 2006

KALEIDOSCOPE GLASS: Calls In Liquidator from Barringtons Ltd.
LILI 99: Creditors' Meeting Slated for March 30
MALTINGS GARAGE: Appoints Alan S. Bradstock to Liquidate Assets
MD HANEY: Creditors Confirm Liquidators' Appointment
NORHAM MULTI: Creditors' Meeting Slated for March 21

ODS OPTICAL: Joint Liquidators Take Over Operations
PRIMUS TELECOM: Dec. 31 Balance Sheet Upside-Down by US$468 Mln
PRIORY FINANCE: Creditors' Meeting Slated for March 15
REGENT SECURITY: Names Philip John Gorman Liquidator
RILEY ELECTRICAL: Brings In Liquidators from Baker Tilly

SABINA INTERNATIONAL: Creditors Confirm Liquidator's Appointment
STAGEIT BY PREMIER: Creditors' Meeting Slated for March 16
TELECOM MAINTENANCE: Claims Filing Period Ends April 16
TITAN EUROPE: S&P Lifts Ratings on Class F Notes to BB-
TXU EUROPE: Bankrupt Obligors Cue Moody's to Drop All Ratings

VIBRACRAFT LTD: Names Liquidator to Wind Up Business

* BOND PRICING: For the Week March 5 to March 9, 2007

                            *********

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A U S T R I A
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111%PRODUKTIONS: Claims Registration Period Ends April 10
---------------------------------------------------------
Creditors owed money by LLC 111%Produktions- und Vertriebs (FN
258173t) have until April 10 to file written proofs of claim to
court-appointed estate administrator Michael Ludwig Lang at:

         Mag. Michael Ludwig Lang
         c/o Dr. Martin Koroschetz
         Maria-Theresien-Strasse 9/4
         1090 Vienna
         Austria
         Tel: 319 32 60
         Fax: 319 32 60-9
         E-mail: lang@brandlang.com
                 dr.koroschetz@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 1:45 p.m. on April 24 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 Feb. 20 (Bankr. Case No. 6 S 23/07k).  Martin Koroschetz
represents Mag. Lang in the bankruptcy proceedings.


ARI KEG: Claims Registration Period Ends April 10
-------------------------------------------------
Creditors owed money by KEG ARI (FN 251358w) have until April 10
to file written proofs of claim to court-appointed estate
administrator Wilhelm Deutschmann at:

         Mag. Wilhelm Deutschmann
         Stelzhamerstr. 12/3
         4020 Linz
         Austria
         Tel: 0732/602080
         Fax: 0732/60208020
         E-mail: info@df-ra.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on April 24 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Linz
         Hall 522
         Fifth Floor
         Linz, Austria

Headquartered in Linz, Austria, the Debtor declared bankruptcy
on Feb. 19 (Bankr. Case No. 38 S 11/07g).


BAWAG PSK: European Commission Okays Sale to Cerberus Consortium
----------------------------------------------------------------
The European Commission has approved the EUR3.2-billion sale of
Bawag PSK Group to a consortium led by Cerberus Capital
Management L.P., AFX News reports.

The Commission ruled that the consortium's acquisition of Bawag
does not pose competition concerns.  The consortium consists of
Cerberus, Wuestenrot, Generali, Oesterreichische Post AG, and a
group of industrialists, AFX News relates.

In a TCR-Europe report on Jan. 3, Osterreichischer
Gewerkschaftsbundhad formally approved on Dec. 29, 2006, the
sale of Bawag to a group led by Cerberus.  OeGB agreed to sell
Bawag for EUR3.2 billion.  Cerberus will pay around EUR2.6
billion for the assets and inject EUR600 million into the bank.

Cerberus expects to complete the takeover in May.  Following the
takeover, Cerberus will sell all of Bawag's non-bank assets
except piano manufacturer Boesendorfer.

As previously reported in the TCR-Europe, Bawag PSK has to post
at least EUR400 million in net profit by 2011 before it can
launch an initial public offering.  Bawag posted over EUR20
million in net profits in 2006, slightly above its forecast.
The company will also lay off 400 employees from its 4,500-
strong workforce by 2011 to meet the profit targets of Bawag's
incoming owner.

                           About BAWAG

Headquartered in Vienna, Austria, BAWAG P.S.K. (Bank fur Arbeit
und Wirtschaft AG) is an Austrian universal bank founded in 1922
by former Austrian Chancellor Karl Renner.  As of 2004, the
bank's majority shareholder was the OGB (Osterreichischer
Gewerkschaftsbund), the Austrian Trade Union Federation.  The
bank had total consolidated assets of EUR56 billion as of
Dec. 31, 2004.

                        *      *      *

As of Feb 27, Bawag PSK carries an E+ bank financial strength
rating from Moody's.


BEST ELEKTRO: Claims Registration Period Ends April 3
-----------------------------------------------------
Creditors owed money by LLC Best Elektro (FN 228221w) have until
April 3 to file written proofs of claim to court-appointed
estate administrator Susi Pariasek at:

         Dr. Susi Pariasek
         Gonzagagasse 15
         1010 Vienna
         Austria
         Tel: 533 28 55
         Fax: 533 28 55 28
         E-mail: office@anwaltwien.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on April 17 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1607
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Feb. 19 (Bankr. Case No. 28 S 19/07h).


CLASSICO LLC: Klagenfurt Court Orders Business Shutdown
-------------------------------------------------------
The Land Court of Klagenfurt entered Feb. 22 an order shutting
down the business of LLC Classico (FN 159770g).

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

The estate administrator can be reached at:

         Dr. Gerhard Brandl
         Kardinalschuett 7
         9020 Klagenfurt
         Austria
         Tel: 0463/55577
         Fax: 0463/502191
         E-mail: insolvenzverwaltung@kanzlei-brandl.at

Headquartered in Klagenfurt, Austria, the Debtor declared
bankruptcy on Feb. 16 (Bankr. Case No. 41 S 15/07i).


HORVAT-FERTIGHAUSER: Claims Registration Period Ends April 3
------------------------------------------------------------
Creditors owed money by LLC Horvat-Fertighauser (FN 44478i) have
until April 3 to file written proofs of claim to court-appointed
estate administrator Felix Stortecky at:

         Dr. Felix Stortecky
         Dr.-Karl-Lueger-Platz 2
         1010 Vienna
         Austria
         Tel: 513 88 37
         Fax: 514 35 40
         E-mail: ra-stortecky@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:15 a.m. on April 17 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 Feb. 19 (Bankr. Case No. 4 S 18/07k).


NGTC LLC: Claims Registration Period Ends March 30
--------------------------------------------------
Creditors owed money by LLC NGTC (FN 245864s) have until
March 30 to file written proofs of claim to court-appointed
estate administrator Bernhard Schatz at:

         Dr. Bernhard Schatz
         Enzersdorferstr. 4
         2340 Moedling
         Austria
         Tel: 02236/893377
         Fax: 02236/893377-05
         E-mail: bernhard.schatz@bpv-huegel.com

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on April 12 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Wiener Neustadt
         Room 15
         Wiener Neustadt, Austria

Headquartered in Wiener Neudorf, Austria, the Debtor declared
bankruptcy on Feb. 19 (Bankr. Case No. 10 S 15/07w).


TECHNICUM 2000: Claims Registration Period Ends March 22
--------------------------------------------------------
Creditors owed money by LLC technicum 2000 (FN 204900z) have
until March 22 to file written proofs of claim to court-
appointed estate administrator Michael Troethandl at:

         Dr. Michael Troethandl
         c/o Mag. Georg Rupprecht
         Hauptplatz 9-13
         2500 Baden bei Wien
         Austria
         Tel: 02252/86580
         Fax: 02252/86580-3
         E-mail: troethandl@lexacta.com

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on April 4 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Wiener Neustadt
         Room 15
         Wiener Neustadt, Austria

Headquartered in Oeynhausen, Austria, the Debtor declared
bankruptcy on Feb. 8 (Bankr. Case No. 10 S 8/07s).  Georg
Rupprecht represents Dr. Troethandl in the bankruptcy
proceedings.

The Land Court of Wiener Neustadt entered Feb. 19 an order to
shutdown the Debtor's business.


WET SYSTEME: Claims Registration Period Ends April 10
-----------------------------------------------------
Creditors owed money by LLC Wet Systeme (FN 280093b) have until
April 10 to file written proofs of claim to court-appointed
estate administrator Johannes Welzl at:

         Mag. Johannes Welzl
         Hauptplatz 21
         4020 Linz
         Austria
         Tel: 0732/773461
         Fax: 0732/782732
         E-mail: j.welzl.ra@rae-jlw.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on April 23 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Linz
         Room 522
         Fifth Floor
         Linz, Austria

Headquartered in Linz, Austria, the Debtor declared bankruptcy
on Feb. 19 (Bankr. Case No. 12 S 21/07m).


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B E L G I U M
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HUDSON HIGHLAND: Will Restate 2006 & 2005 Financial Results
-----------------------------------------------------------
As a result of a review by the U.S. Securities and Exchange
Commission, Hudson Highland Group Inc. will restate its 2006 and
2005 results, reflecting the shift of:

    (1) a charge of US$643,000 previously included in 2006
        results to the applicable periods in 2005, and

    (2) a charge of US$923,000 previously included in 2006
        results related to indeterminate periods to the opening
        retained earnings balance of 2006 in accordance with the
        SEC's Staff Accounting Bulletin No. 108.

These adjustments were previously reported in the company's
second quarter 2006 financial results and reduced reported
income for 2006.  As a result of these changes in second quarter
results, the company's previously reported income for 2006 will
increase by approximately US$1.6 million.  The company will
include these restatements in its 2006 Form 10-K, which it
expects to file on or before March 16.

                      About Hudson Highland

Headquartered in New York, New York, Hudson Highland Group, Inc.
(Nasdaq: HHGP)-- http://www.hhgroup.com/-- is a provider of
permanent recruitment, contract professionals and talent
management services worldwide.  From single placements to total
outsourced solutions, Hudson helps clients achieve greater
organizational performance by assessing, recruiting, developing
and engaging the best and brightest people for their businesses.
The company employs more than 3,600 professionals serving
clients and candidates in more than 20 countries including
Argentina, Australia, Belgium, Brazil, and Canada.

                          *     *     *

As reported in the Troubled Company Reporter on Nov. 7, 2006,
Moody's Investors Service assigned a Ba2 rating to the company's
US$7,500,000 Income Notes Due 2042.


RELIANCE STEEL: Earns US$354.5 Million in Full Year 2006
--------------------------------------------------------
For the fiscal year ended Dec. 31, 2006, Reliance Steel &
Aluminum Co. reported a record net income of US$354.5 million
compared with net income of US$205.43 million for the same
period in 2005.  Sales for the 2006 fiscal year were also a
record US$5.74 billion, an increase compared with 2005 fiscal
year sales of US$3.37 billion.

The 2006 financial results include positive contributions to
sales and earnings from the Company's 2006 acquisitions,
primarily Yarde Metals Inc. that was acquired on Aug. 1, 2006,
and Earle M. Jorgensen Company that was acquired on April 3,
2006.  The Jorgensen acquisition included the issuance of
approximately nine million shares of Reliance's common stock.

For the 2006 fourth quarter, net income was US$74.64 million, as
compared with net income of US$60.58 million for the 2005 fourth
quarter.  The 2006 fourth quarter sales were US$1.57 billion, as
compared with 2005 fourth quarter sales of US$868.64 million.

David H. Hannah, chief executive officer of Reliance, said: "We
are very pleased with our fiscal year 2006 results.  All of our
end markets were strong with a very favorable operating
environment throughout our network of facilities.

"We experienced the normal seasonal slowdown during the 2006
fourth quarter.  However, gross profit margins were slightly
below our earlier expectations due to some inventory de-stocking
that resulted in added competitive pressures.

"In November of 2006, we replaced our US$700 million credit
facility with a US$1.1 billion five-year, unsecured syndicated
credit facility that provides increased availability of funds
and more favorable pricing.  This facility may be increased to
up to US$1.6 billion at our request with approval from the
lenders.  We used funds from the increased line to purchase
approximately US$250 million of the Jorgensen 9.75% senior
secured notes in a tender offer.  We then issued US$600 million
of senior unsecured notes and used the proceeds to pay down the
borrowings under our credit facility.

"We are optimistic regarding 2007 business conditions.  We
generally see continued growth in the markets we serve, but at a
slower rate than in 2006," Mr. Hannah further stated.

On Feb. 14, the Board of Directors declared a 33% increase in
the regular quarterly cash dividend to US$.08 per share of
common stock.  The 2007 first quarter dividend is payable on
March 30 to shareholders of record March 9.  The Company has
paid regular quarterly dividend payments for 47 consecutive
years.

The balance sheet of the company as of Dec. 31, 2006, had total
assets of US$3.61 billion, total liabilities of US$1.86 billion,
and minority interests of US$1.24 million, resulting to total
stockholders' equity of US$1.74 billion.

                About Reliance Steel & Aluminum Co.

Reliance Steel & Aluminum Co., headquartered in Los Angeles,
California, (NYSE:RS) -- http://www.rsac.com/-- is a metals
service center company in the U.S.  Through a network of more
than 180 locations in 37 states and in Belgium, Canada, China
and South Korea, the Company provides value-added metals
processing services and distributes a full line of over 100,000
metal products.  These products include galvanized, hot-rolled
and cold-finished steel; stainless steel; aluminum; brass;
copper; titanium and alloy steel sold to more than 125,000
customers in various industries.

                           *     *     *

Reliance Steel & Aluminum Co. carries Moody's Baa3 Senior
Unsecured Debt Rating and Standard & Poor's BBB- Long-term
Foreign and Local Issuer Credit Ratings.


TENNECO INC: Earns US$51 Million in Year Ended December 31, 2006
----------------------------------------------------------------
Tenneco Inc. reported net income of US$51 million on total
revenues of US$4.68 billion for the year ended Dec. 31, 2006,
versus a net income of US$58 million on total revenues of
US$4.44 billion for the year ended Dec. 31, 2005.

Excluding the impact of currency and substrate sales, revenue
was down US$58 million driven primarily by lower OE production
volumes in North America, particularly light trucks and SUVs,
partially offset by higher aftermarket sales.

Revenues from the company's North American operations decreased
by US$69 million in 2006 compared to the same period last year
reflecting lower sales in OE partially offset by increased
aftermarket sales.  Revenues from the company's European, South
American, and Indian segments increased by US$252 million in
2006, compared to last year.  Revenues from its Asia Pacific
segment, which includes Australia and Asia, increased to US$421
million in 2006, compared with US$360 million for the prior
year.

For the year 2006, total costs and expenses were US$4.48 billion
up from US$4.22 billion for 2005.  The increase was primarily
driven by the rise in cost of sales to US$3.83 billion for 2006,
from US$3.58 billion a year ago.

Income taxes paid were US$3 million in 2006, compared with US$25
million in 2005.  Included in the income taxes paid in 2006 were
benefits of US$16 million.  The effective tax rate for 2006,
including the US$16 million of benefits, was 5%.  Excluding
these benefits would have increased the company's effective tax
rate by 27%.

As of Dec. 31, 2006, the company listed US$3.26 billion in total
assets, US$3.01 billion in total liabilities, US$28 million in
minority interests, resulting in a total shareholders' equity of
US$221 million.

A full-text copy of the company's annual report is available for
free at http://ResearchArchives.com/t/s?1acc.

                        About Tenneco Inc.

Tenneco Inc., (NYSE: TEN) -- http://www.tenneco.com/-- is
headquartered in Lake Forest, Ill.  It manufactures automotive
ride and emissions control products and systems for both the
worldwide original equipment market and aftermarket.  Leading
brands include Monroe(R), Rancho(R), and Fric Rot ride control
products and Walker(R) and Gillet emission control products.

The company has global operations in Argentina, Japan, and
Germany, among others, with its European operations
headquartered in Brussels, Belgium.

                           *     *     *

Tenneco Inc. carries Moody's Ba3 Senior Secured Rating, B1 Long-
term Corporate Family Rating, Ba1 Bank Loan Debt Rating, B3
Subordinated Debt Rating, and B1 Probability of Default Rating.

Standard & Poor's gave the company a BB- Long-term Foreign and
Local Issuer Credit Rating and a B1- Short-term Foreign and
Local Issuer Credit Rating.

Fitch gave the company a BB- Long-term Issuer Default Rating, a
BB Senior Secured Debt Rating, a BB+ Bank Loan Debt Rating, and
a B Senior Subordinated Debt Rating.


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B U L G A R I A
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LUKOIL BULGARIA: Files BGN89.6-Mln Claims Suit vs Petrol Holding
----------------------------------------------------------------
Lukoil Bulgaria, a unit of OAO Lukoil, has filed a claims suit
against Petrol Holding AD, with Petrol also filing a counter-
suit, both over delayed payments, published reports say.

Lukoil filed a BGN89.6-million claim against Petrol, alleging
that the Bulgarian fuel group breached a 2001 concession
agreement by deliberately delaying payments, Sofia News Weekly
reports.  Under the deal, Petrol retails liquified fuels
produced by Lukoil, with the firms splitting the profits after
the Bulgarian fuel group Petrol has deducted costs.

A Lukoil spokesman told Dnevnik that the company's willingness
to pay BGN3.5 million in court taxes shows it is serious in
pursuing the case.

Petrol also filed a BGN84-million counterclaim against Lukoil
Bulgaria, arguing that the latter had also delayed payments,
Dnevnik relates.  Petrol said it notified Lukoil on Feb. 13 that
it should make the payment within 20 business days or face
litigation.  Lukoil, however, denied Petrol's accusations.

Dnevnik relays that the firms had a conflict in 2005 when Lukoil
cut fuel supplies for Petrol over outstanding payments amounting
to BGN35 million.

                         About Lukoil

Headquartered in Moscow, Russia, OAO Lukoil (LSE: LKOD; MICEX,
RTS: LKOH) -- http://www.lukoil.com/-- explores and produces
oil & gas, petroleum products and petrochemicals, and markets
the outputs.  Most of the Company's exploration and production
activity is located in Russia, and its main resource base is in
Western Siberia.

                         *     *     *

OAO Lukoil carries Standard & Poor's BB+ long-term foreign and
local issuer credit ratings with a positive outlook.


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


BLOCKBUSTER INC: Earns US$54.7 Million in Full Year 2006
--------------------------------------------------------
Blockbuster Inc. reported net income of US$54.7 million for the
year ended Dec. 31, 2006, compared with a net loss of US$588.1
million for 2005.

Excluding the favorable resolution of multi-year tax audits,
store closure and severance costs as well as certain other
items, adjusted net income for the full-year 2006 would have
been US$6.3 million, compared with an adjusted net loss of
US$73.6 million in 2005.

Revenues for 2006 decreased 3.5% to US$5.52 billion from
US$5.72 billion for 2005 mostly due to the closure of stores
resulting from accelerated actions to optimize the company's
asset portfolio and a 2.1% decrease in worldwide same-store
sales. Worldwide same-store revenues include the favorable
impact of a US$105.5 million increase in revenues from
Blockbuster's online rental service resulting from growth in the
subscriber base, which nearly doubled to approximately 2.2
million subscribers, including approximately 2 million paying
subscribers, at the end of 2006.

Operating income for the full-year 2006 totaled US$79.1 million,
as compared to an operating loss of US$388.0 million for the
same period last year, which included a US$341.9 million non-
cash charge to impair goodwill and other long-lived assets.

For the fourth quarter of 2006, net income was US$12.9 million
as compared with net income of US$18 million for the fourth
quarter of 2005.

Revenues for the fourth quarter of 2006 increased 1.4% to
US$1.51 billion compared with US$1.49 billion for the fourth
quarter of last year primarily due to an increase in worldwide
same-store merchandise sales and favorable foreign exchange
rates.

"2006 was an exciting year for Blockbuster.  We delivered four
consecutive quarters of positive same-store domestic movie
rental revenues.  We also significantly reduced operating costs,
sizably increased our online subscriber base and substantially
improved our profitability and cash flow," said John Antioco,
Blockbuster Chairman and CEO.

At Dec. 31, 2006, the company's balance sheet showed
US$3.137 billion in total assets, US$2.394 billion in total
liabilities, and US$742.4 million in total stockholders' equity.

Full-text copies of the company's consolidated financial
statements for the year ended Dec. 31, 2006, are available for
free at http://researcharchives.com/t/s?1af4

Cash flow provided by operating activities increased by US$399.9
million to US$329.4 million for the full-year 2006 from a
US$70.5 million deficit for 2005 driven by improvement in
profitability.

As of Dec. 31, 2006, no balance was outstanding under the
company's revolving credit facility and the company's borrowing
capacity, which excludes various letters of credit, totaled
approximately US$293 million.

                   Divestiture of Non-Core Assets

As part of the ongoing review of its asset portfolio, during
2006 the company completed the divestiture of its MOVIE TRADING
CO.(R) locations and Movie Brands Inc. subsidiary, closed its
store operations in Spain and sold its Taiwan subsidiary,
coupled with a master franchise license, to Webs-TV, the largest
broadband TV operator in the Chinese market.

Most recently, in 2007 the company sold its 72-store, U.S.-based
RHINO VIDEO GAMES(R) chain to GameStop Corp. and in conjunction
with the Blockbuster Brazilian franchisee's sale of its stores
to LOJAS Americanas, the company signed a 20-year licensing
agreement with Lojas, giving the Brazilian retailer rights to
the BLOCKBUSTER brand for the rental and retail sale of video
products.  The company also entered into an agreement to sell
its Australian subsidiary and grant the master franchise rights
for the BLOCKBUSTER system in Australia to Video Ezy, an
Australian-based company with 518 franchised video rental
stores.

                         About Blockbuster

Blockbuster Inc. (NYSE: BBI) -- http://www.blockbuster.com/--  
is a leading global provider of in-home movie and game
entertainment, with over 8,000 stores throughout the Americas,
Europe, Asia and Australia.  The company maintains operations in
Brazil, Mexico, Denmark, Italy, Taiwan, Australia, among others.

                           *     *     *

As reported in the Troubled Company Reporter on Dec. 19, 2006,
Standard & Poor's Ratings Services revised its outlook on video
rental retailer Blockbuster Inc. to stable from negative.  The
ratings on the Dallas-based company, including the 'B-'
corporate credit rating, were affirmed.


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


ALCATEL-LUCENT: CEO Predicts Revenue Growth During Restructuring
----------------------------------------------------------------
Alcatel-Lucent CEO Patricia Russo is positive that the newly
merged company can achieve revenue growth in 2007 even while
implementing post-merger restructuring that includes shedding
12,500 jobs, the Financial Times reports.

Ms. Russo told FT that some employees felt uncertain and anxious
because their future in the group remains unpredictable.  She
said that the group plans to address that problem by immediately
disclosing the exact number of lost jobs for every country
involved.

Alcatel-Lucent got off to a poor start, a mere seven weeks after
the French and U.S. company's merger, when it issued a profit
warning in January ahead of its 2006 financial report, FT
states.

But Ms. Russo was optimistic, saying: "We believe we can resume
growth as we move through the year."  She believes the group
could use a "stronger second half."

"I have every expectation the folks focused on winning contracts
and closing orders and driving the business forward are going to
do that, and that we are in fact going to execute the
integration plans," Ms. Russo added.

As reported in the TCR-Europe on Feb. 13, Alcatel-Lucent
registered EUR522 million in net profit on EUR18.25 billion in
net revenues for the full year 2006, compared with EUR1.67
billion in net profit on EUR18.57 billion in net revenues for
the full year 2005.

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

                      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.

Alcatel-Lucent maintains operations in 130 countries, including,
Austria, Germany, Hungary, Italy, Netherlands, Ireland, Canada,
United States, Costa Rica, Dominican Republic, El Salvador,
Guatemala, Peru, Venezuela, Australia, Brunei, and Cambodia.

                        *     *     *

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.


DELPHI CORPORATION: Files Registration Statement With SEC
---------------------------------------------------------
Delphi Corporation on Wednesday filed a registration statement
on Form S-1 with the U.S. Securities and Exchange Commission
relating to a proposed offering of rights to purchase shares of
common stock of Delphi.

The registration statement was filed in connection with the
previously disclosed Equity Purchase & Commitment Agreement
dated Jan. 18 that Delphi entered into with its Plan Investors.

The Plan investors are affiliates of Cerberus Capital Management
L.P., Appaloosa Management L.P., and Harbinger Capital Partners
Master Fund I Ltd., as well as with Merrill Lynch & Co. and UBS
Securities LLC.

The registration statement relates to the rights and shares of
common stock for which the rights may be exercised.  Although it
has been filed with the SEC, it has not yet become effective.

These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes
effective.

The registration statement may be view for free at:

                http://ResearchArchives.com/t/s?1aed

Troy, Mich.-based Delphi Corporation (OTC: DPHIQ) --
http://www.delphi.com/-- is the single largest global supplier
of vehicle electronics, transportation components, integrated
systems and modules, and other electronic technology.  The
Company's technology and products are present in more than 75
million vehicles on the road worldwide.  The Company filed for
chapter 11 protection on Oct. 8, 2005 (Bankr. S.D.N.Y. Lead Case
No. 05-44481).  John Wm. Butler Jr., Esq., John K. Lyons, Esq.,
and Ron E. Meisler, Esq., at Skadden, Arps, Slate, Meagher &
Flom LLP, represent the Debtors in their restructuring efforts.
Robert J. Rosenberg, Esq., Mitchell A. Seider, Esq., and Mark A.
Broude, Esq., at Latham & Watkins LLP, represents the Official
Committee of Unsecured Creditors.  As of Aug. 31, 2005, the
Debtors' balance sheet showed $17,098,734,530 in total assets
and $22,166,280,476 in total debts.  The Debtors' exclusive
period to file a chapter 11 plan of reorganization expires on
July 31, 2007.  (Delphi Corporation Bankruptcy News, Issue No.
59; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


RHODIA SA: Selling 50% Stake in Nylstar for EUR1
------------------------------------------------
Rhodia S.A. signed an agreement to sell its 50% stake in Nylstar
for EUR1, to a third party agent acting on behalf of a
consortium of Nylstar's credit banks.

SNIA, Rhodia's partner in this joint venture, has also signed an
agreement to sell its 50% stake.  The sale of the stake in
Nylstar will be effective once the necessary regulatory
formalities have been completed.

This agreement forms part of the financial restructuring of
Nylstar through a debt/equity swap to give the company a
restructured balance sheet and significantly reduced level of
debt.  Nylstar will now be in a better position to ensure
development.  Rhodia will remain a raw material supplier to
Nylstar.

                          About Rhodia

Headquartered in Paris, France, Rhodia SA (NYSE: RHA) --
http://www.rhodia.com/-- is a global specialty chemicals
company partnering with major players in the automotive,
electronics, pharmaceuticals, agrochemicals, consumer care,
tires, and paints and coatings markets.  Rhodia offers tailor-
made solutions combining original molecules and technologies to
respond to customers' needs.  Rhodia employs around 19,500
people worldwide.   Rhodia is listed on Euronext Paris and the
New York Stock Exchange.

                           *    *    *

As of March 9, Rhodia S.A. carries Moody's 'B1' Long-term
Corporate Family Rating, 'B2' Senior Unsecured Debt and 'B3'
Senior Subordinate.

Standard & Poors placed 'B+' rating on Rhodia's Long-term
Foreign Issuer Credit, 'B+' Long-term Local Issuer Credit, and
placed 'B' ratings on the company's Short-term Foreign & Local
Issuer Credit.

Fitch Ratings upgraded the Issuer Default rating of Rhodia SA to
'BB-' from 'B+'; the EUR300 million revolving credit facility
rating to 'BB+' from 'BB'; the senior notes due 2010 and 2013
rating to 'BB-' from 'B+'; and the senior subordinated notes due
2011 rating to 'B' from 'B-'.  The Outlook on the IDR is Stable.


SOCIETE FONCIERE: S&P Withdraws BB+/B Ratings Per Request
---------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'BB+/B' long-
and short-term corporate credit ratings on Societe Fonciere
Lyonnaise S.A., one of the largest listed office property-
investment companies in France.

The withdrawal came at the company's request and following early
repayment of SFL's U.S. private placement, the only outstanding
debt to be rated.


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


A. MUELLER & SOEHNE: Claims Registration Ends April 23
------------------------------------------------------
Creditors of A. Mueller & Soehne GmbH have until April 23 to
register their claims with court-appointed insolvency manager
Dr. Hubert Ampferl.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on May 7, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Amberg
         Room 115
         Meeting Hall V
         First Stock
         Baustadelgasse 1
         Amberg
         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. Hubert Ampferl
         Stahlstr. 17
         90411 Nuernberg
         Germany
         Tel: 0911/951285-0
         Tel: 0911/951285-10

The District Court of Amberg opened bankruptcy proceedings
against A. Mueller & Soehne GmbH on March 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         A. Mueller & Soehne GmbH
         Am Schiessanger 6-14
         92526 Oberviechtach
         Germany


ADVANCED DESIGN: Claims Registration Period Ends April 13
---------------------------------------------------------
Creditors of Advanced Design And Services GmbH have until
April 13 to register their claims with court-appointed
insolvency manager Axel Klages.

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

The meeting of creditors will be held at:

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

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

The insolvency manager can be contacted at:

         Axel Klages
         Schlossstrasse 26
         49074 Osnabrueck
         Germany
         Tel: (0541) 77063-0
         Fax: (0541) 77063-33
         E-mail: info@kanzlei-tkb.de

The District Court of Osnabrueck opened bankruptcy proceedings
against Advanced Design And Services GmbH on March 2.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Advanced Design And Services GmbH
         Gewerbepark 18
         49143 Bissendorf
         Germany

         Attn: Uwe Huels, Manager
         Strasse 17
         49090 Osnabrueck
         Germany


ANTON PETER: Creditors' Meeting Slated for April 12
---------------------------------------------------
The court-appointed insolvency manager for Anton Peter Mueller
GmbH & Co. KG, Dr. Wolfgang Petereit, will present his first
report on the Company's insolvency proceedings at a creditors'
meeting at 10:30 a.m. on April 12.

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

         The District Court of Mainz
         Hall 174
         Building B
         Ernst-Ludwig Strasse 7
         55116 Mainz
         Germany

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

         Dr. Wolfgang Petereit
         GF 48
         Kaiserstrasse 24a, D
         55116 Mainz
         Germany
         Tel: 06131/626080
         Fax: 06131/6260813

The District Court of Mainz opened bankruptcy proceedings
against Anton Peter Mueller GmbH & Co. KG on March 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Anton Peter Mueller GmbH & Co. KG
         Attn: Alberta Jertz, Manager
         Rheinhessenstr. 19
         55129 Mainz-Hechtsheim
         Germany


AUTO KORZ: Creditors Must Register Claims by April 5
----------------------------------------------------
Creditors of Auto Korz und PS Automobile GmbH have until April 5
to register their claims with court-appointed insolvency manager
Peter Haas.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on April 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Saarbruecken
         Area Hall 13
         First Floor
         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 reached at:

         Peter Haas
         Kaiserstrasse 77
         66386 St. Ingbert
         Germany
         Tel: (06894) 3876-311
         Fax: (06894) 382185

The District Court of Saarbruecken opened bankruptcy proceedings
against Auto Korz und PS Automobile GmbH on March 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Auto Korz und PS Automobile GmbH
         Kaiserstrasse 4 c
         66133 Saarbruecken
         Germany


BAB STAHLHANDELS: Creditors' Meeting Slated for April 17
--------------------------------------------------------
The court-appointed insolvency manager for BAB Stahlhandels GmbH
- Berlin, Joachim Heitsch, will present his first report on the
Company's insolvency proceedings at a creditors' meeting at 9:35
a.m. on April 17.

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 9:15 a.m. on July 31, at the same venue.

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

The insolvency manager can be reached at:

         Dr. Joachim Heitsch
         Berliner Str. 117
         10713 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against BAB Stahlhandels GmbH - Berlin on March 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         BAB Stahlhandels GmbH - Berlin
         Miraustr. 24
         13509 Berlin
         Germany


BLASCHKE GMBH: Claims Registration Period Ends May 4
----------------------------------------------------
Creditors of Blaschke GmbH have until May 4 to register their
claims with court-appointed insolvency manager Joerg Nerlich.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on June 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 Wuppertal
         Meeting Hall A234
         Second Floor
         Eiland 2
         42103 Wuppertal
         Germany

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

The insolvency manager can be contacted at:

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

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

The Debtor can be contacted at:

         Blaschke GmbH
         Attn: Uwe Blaschke, Manager
         Huels 2
         40822 Mettmann
         Germany


CHEVALIER SICHERHEIT: Claims Registration Period Ends June 1
------------------------------------------------------------
The court-appointed insolvency manager for CHEVALIER Sicherheit
GmbH, Eberhard Stock, will present his first report on the
Company's insolvency proceedings at a creditors' meeting at 9:02
a.m. on June 1.

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

         The District Court of Krefeld
         Meeting Hall H 131
         First Floor
         Nordwall 131
         47798 Krefeld
         Germany

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

Creditors have until June 25 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Eberhard Stock
         Wilhelmshofallee 75
         47800 Krefeld
         Germany
         Tel: (02151) 5813-0
         Fax: +4921515813134

The District Court of Charlottenburg opened bankruptcy
proceedings against CHEVALIER Sicherheit GmbH on March 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         CHEVALIER Sicherheit GmbH
         Tannenstr. 48
         47798 Krefeld
         Germany

         Attn: Manfred Liebe, Manager
         Kornelius-Feyen-Str. 25
         47877 Willich
         Germany


CREAMWARE AUDIO: Claims Registration Period Ends April 20
---------------------------------------------------------
Creditors of CreamWare Audio GmbH have until April 20 to
register their claims with court-appointed insolvency manager
Dirk Obermueller.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 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 Bonn
         Meeting Hall W 1.26
         First Floor
         William-Strasse 23
         53111 Bonn
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:05 a.m. on June 1, at the same venue.

The insolvency manager can be contacted at:

         Dirk Obermueller
         Godesberger Allee 125-127
         53175 Bonn
         Germany
         Tel: 81 000 45

The District Court of Bonn opened bankruptcy proceedings against
CreamWare Audio GmbH on March 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         CreamWare Audio GmbH
         Attn: Wolfgang Roth, Manager
         Turm 11-13
         53721 Siegburg
         Germany


DAIMLERCHRYSLER AG: Shareholders Want Chrysler Deal Investigated
----------------------------------------------------------------
Ekkehard Wenger and Leonhard Knoll, shareholders of
DaimlerChrysler AG, are calling for special audits that could
lead to damage claims against the company's supervisory board,
in a new sign of friction between investors and management of
the German-U.S. carmaker, Matthias Krust of The Wall Street
Journal reports.

The two investors, WSJ says, have succeeded in amending the
agenda of the company's April 4 annual shareholders' meeting to
include a motion that, if successful, would require an audit of
the 1998 takeover of the former Chrysler Corp. by the former
Daimler-Benz AG.

According to the report, Messrs. Wenger and Knoll say company
officials did not calculate the companies' value correctly and
that DaimlerChrysler management added a 30% premium to the
market value of the Chrysler shares when determining the
exchange ratio used for the merger of both companies.

In response, DaimlerChrysler said in a statement cited by WSJ
that there is no reason for the requested investigations.

As reported in the Troubled Company Reporter on March 8, 2007,
the Journal said that DaimlerChrysler Chief Executive Officer
Dieter Zetsche confirmed his company is talking to General
Motors Corp. about sharing the costs of future sport-utility
vehicles, but he and GM's CEO stayed mum about whether GM could
try to buy its Chrysler arm outright.

According to that report, Mr. Zetsche reiterated that the auto
maker is considering "all options" for Chrysler, including a
possible sale, which move came amid rising investor frustration
over the division's losses.

                       Lower February Sales

As reported in the Troubled Company Reporter on Mar. 2, 2007,
DaimlerChrysler AG's Chrysler Group reported sales for February
2007 of 174,506 units; down 8% compared with February 2006 with
190,367 units.  All sales figures are reported unadjusted.

"In a generally soft market environment in February, the
Chrysler Group had good traffic and solid customer interest
especially for our newly launched, fuel efficient models like
the Dodge Avenger, Dodge Caliber, and Jeep(R) Compass.  Also,
the Jeep Wrangler had its best February ever," Chrysler Group
Vice President for Sales and Field Operations Steven Landry
said.

                      About DaimlerChrysler

Headquartered in Stuttgart, Germany, DaimlerChrysler AG --
http://www.daimlerchrysler.com/-- develops, manufactures,
distributes, and sells various automotive products, primarily
passenger cars, light trucks, and commercial vehicles worldwide.
It primarily operates in four segments: Mercedes Car Group,
Chrysler Group, Commercial Vehicles, and Financial Services.

The company's worldwide locations are located in: Canada,
Mexico, United States, Argentina, Brazil, Venezuela, China,
India, Indonesia, Japan, Thailand, Vietnam and Australia.

The Chrysler Group segment offers cars and minivans, pick-up
trucks, sport utility vehicles, and vans under the Chrysler,
Jeep, and Dodge brand names.  It also sells parts and
accessories under the MOPAR brand.

The Chrysler Group is facing a difficult market environment in
the United States with excess inventory, non-competitive legacy
costs for employees and retirees, continuing high fuel prices
and a stronger shift in demand toward smaller vehicles.  At the
same time, key competitors have further increased margin and
volume pressures -- particularly on light trucks -- by making
significant price concessions.  In addition, increased interest
rates caused higher sales & marketing expenses.

In order to improve the earnings situation of the Chrysler Group
as quickly and comprehensively, measures to increase sales and
cut costs in the short term are being examined at all stages of
the value chain, in addition to structural changes being
reviewed as well.


DAIMLERCHRYSLER AG: Magna Set to Visit Chrysler Headquarters
------------------------------------------------------------
Magna International Inc., a Canadian auto-parts supplier, is the
next potential buyer to visit the headquarters of
DaimlerChrysler AG's Chrysler Group in Auburn Hills, Michigan,
Gina Chon of The Wall Street Journal reports.

Magna executives will go to Chrysler "very soon" to hear
presentations similar to the ones given to private-equity firms
Blackstone Group and Cerberus Capital Management LP, which
visited Chrysler's office this week, WSJ said citing people
familiar with the matter.

According to the report, Magna executives said they are
following Chrysler with great interest because it is a key
supplier to the automaker and is looking at alternatives to
ensure Chrysler's success.

Magna spokeswoman Tracy Fuerst declined to comment, WSJ said.

DaimlerChrysler will be giving an update on the possible sale of
Chrysler at a general shareholders meeting in Berlin on April 4,
WSJ said, citing people familiar with the matter.

DaimlerChrysler Chief Executive Officer Dieter Zetsche confirmed
his company is talking to General Motors Corp. about sharing the
costs of future sport-utility vehicles, but he and GM's CEO
stayed mum about whether GM could try to buy its Chrysler arm
outright, WSJ related last week.

According to that report, Mr. Zetsche reiterated that the auto
maker is considering "all options" for Chrysler, including a
possible sale, which move came amid rising investor frustration
over the division's losses.

                       Lower February Sales

As reported in the Troubled Company Reporter on Mar. 2,
DaimlerChrysler AG's Chrysler Group reported sales for February
2007 of 174,506 units; down 8% compared with February 2006 with
190,367 units.  All sales figures are reported unadjusted.

"In a generally soft market environment in February, the
Chrysler Group had good traffic and solid customer interest
especially for our newly launched, fuel efficient models like
the Dodge Avenger, Dodge Caliber, and Jeep(R) Compass.  Also,
the Jeep Wrangler had its best February ever," Chrysler Group
Vice President for Sales and Field Operations Steven Landry
said.

                      About DaimlerChrysler

Headquartered in Stuttgart, Germany, DaimlerChrysler AG --
http://www.daimlerchrysler.com/-- develops, manufactures,
distributes, and sells various automotive products, primarily
passenger cars, light trucks, and commercial vehicles worldwide.
It primarily operates in four segments: Mercedes Car Group,
Chrysler Group, Commercial Vehicles, and Financial Services.

The company's worldwide locations are located in: Canada,
Mexico, United States, Argentina, Brazil, Venezuela, China,
India, Indonesia, Japan, Thailand, Vietnam and Australia.

The Chrysler Group segment offers cars and minivans, pick-up
trucks, sport utility vehicles, and vans under the Chrysler,
Jeep, and Dodge brand names.  It also sells parts and
accessories under the MOPAR brand.

The Chrysler Group is facing a difficult market environment in
the United States with excess inventory, non-competitive legacy
costs for employees and retirees, continuing high fuel prices
and a stronger shift in demand toward smaller vehicles.  At the
same time, key competitors have further increased margin and
volume pressures -- particularly on light trucks -- by making
significant price concessions.  In addition, increased interest
rates caused higher sales & marketing expenses.

In order to improve the earnings situation of the Chrysler Group
as quickly and comprehensively, measures to increase sales and
cut costs in the short term are being examined at all stages of
the value chain, in addition to structural changes being
reviewed as well.


DAIMLERCHRYSLER AG: Sells EUR2-Bln 4.375% Bonds Due March 2010
--------------------------------------------------------------
DaimlerChrysler AG sold EUR2 billion of 4.375% bonds due March
2010 at a yield premium or a spread of 35 basis points over the
mid-swaps rate, the Budapest Business Journal reports citing
Bloomberg as its source.

Investors earlier demanded the highest risk premiums to hold the
company debt in at least a month after a rise in supreme
mortgage failures.

According to Mahmoud El-Shaer, who helps manage about US$35
billion of fixed-income assets for State Street Investment
Management in London, the market is entering into a more normal
phase following a period of volatility, BBJ relates.

Mr. E-Shaer said speculations that DaimlerChrysler will
successfully find a buyer for its unprofitable Chrysler division
may have also helped boost demand for the bonds.

However, a company spokeswoman refused to disclose details on
how the automobile manufacturer intends to use the proceeds of
the sale.

According to data compiled by Bloomberg, DaimlerChrysler has up
to EUR8.3 billion of bonds maturing this year.  Commerzbank AG,
Royal Bank of Scotland Group Plc and UniCredit SpA is managing
the sale of the debt.

The company's bonds reported a gain on Feb. 14 after
DaimlerChrysler CEO Dieter Zetsche disclosed that his company is
keeping all options open, including a sale or possible
partnerships, for its loss-making Chrysler division.

                     About DaimlerChrysler

Based in Stuttgart, Germany, DaimlerChrysler AG --
http://www.daimlerchrysler.com/-- develops, manufactures,
distributes, and sells various automotive products, primarily
passenger cars, light trucks, and commercial vehicles worldwide.
It primarily operates in four segments: Mercedes Car Group,
Chrysler Group, Commercial Vehicles, and Financial Services.

The company's worldwide operations are located in: Canada,
Mexico, United States, Argentina, Brazil, Venezuela, China,
India, Indonesia, Japan, Thailand, Vietnam and Australia.

The Chrysler Group segment offers cars and minivans, pick-up
trucks, sport utility vehicles, and vans under the Chrysler,
Jeep, and Dodge brand names.  It also sells parts and
accessories under the MOPAR brand.

The Chrysler Group is facing a difficult market environment in
the United States with excess inventory, non-competitive legacy
costs for employees and retirees, continuing high fuel prices
and a stronger shift in demand toward smaller vehicles.  At the
same time, key competitors have further increased margin and
volume pressures -- particularly on light trucks -- by making
significant price concessions.  In addition, increased interest
rates caused higher sales & marketing expenses.

In order to improve the earnings situation of the Chrysler Group
as quickly and comprehensively, measures to increase sales and
cut costs in the short term are being examined at all stages of
the value chain, in addition to structural changes being
reviewed as well.


DRITTE SQUASH: Claims Registration Period Ends April 14
-------------------------------------------------------
Creditors of Dritte Squash Rackets Center Robert Feustel KG
(GmbH & Co.) have until April 14 to register their claims with
court-appointed insolvency manager Jan H. Wilhelm.

Creditors and other interested parties are encouraged to attend
the meeting at 10:55 a.m. on May 14, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Hamburg
         Hall B 405
         Fourth Floor Annex
         Civil Justice Bldg.
         Sievkingplatz 1
         20355 Hamburg
         Germany

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

The insolvency manager can be contacted at:

         Jan H. Wilhelm
         Albert-Einstein-Ring 11/15
         22761 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against Dritte Squash Rackets Center Robert Feustel KG (GmbH &
Co.) on March 1.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be contacted at:

         Dritte Squash Rackets Center Robert
         Feustel KG (GmbH & Co.)
         Attn: Robert Feustel, Manager
         Eilbeker Weg 30
         22089 Hamburg
         Germany


ECOSUN TECHNOLOGY: Claims Registration Period Ends April 16
-----------------------------------------------------------
Creditors of ecosun technology GmbH have until April 16 to
register their claims with court-appointed insolvency manager
Dirk Pfeil.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on May 14, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Giessen
         Hall 406
         Fourth Floor
         Building B
         Gutfleischstrasse 1
         35390 Giessen
         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:

         Dirk Pfeil
         Eschersheimer Landstr. 60-62
         D 60017 Frankfurt
         Germany
         Tel: 069/153096-0
         Fax: 069/15309666

The District Court of Giessen opened bankruptcy proceedings
against ecosun technology GmbH on March 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         ecosun technology GmbH
         Emdestrasse 8-12
         35305 Gruenberg
         Germany

         Attn: Andrew R. Huston
         Glenn Gardener
         37 Anthony Road
         08826 New Jersey
         United States


FCR HANDEL: Claims Registration Period Ends April 30
----------------------------------------------------
Creditors of FCR Handel GmbH have until April 30 to register
their claims with court-appointed insolvency manager Reinhard
Bohlig.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on May 10, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Kassel
         Hall D 105/106
         Frankfurter Strasse 9
         34117 Kassel
         Germany

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

The insolvency manager can be contacted at:

         Reinhard Bohlig
         Briloner Landstrasse 14
         34497 Korbach
         Germany
         Tel: 05631/9509-0
         Fax: 05631/9509-19
         E-mail: kanzlei@bohlig-kollegen.de
         Web site: http://www.bohlig-kollegen.de/

The District Court of Kassel opened bankruptcy proceedings
against FCR Handel GmbH on March 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         FCR Handel GmbH
         Attn: Thomas Herwig, Manager
         Ruhlstrasse 6
         34117 Kassel
         Germany


FORELLENHOF ROBERT: Claims Registration Ends April 13
-----------------------------------------------------
Creditors of Hotel-Restaurant Forellenhof Robert GmbH have until
April 13 to register their claims with court-appointed
insolvency manager Christine Frosch.

Creditors and other interested parties are encouraged to attend
the meeting at 2:30 p.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 Trier
         Hall 63
         Justizstrasse 2,4,6
         54290 Trier
         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:

         Christine Frosch
         Simeonstr. 5
         D 54290 Trier
         Germany
         Tel: 0651/9941499
         Fax: 0651/9941061
         E-mail: Kanzlei.Frosch@t-online.de

The District Court of Trier opened bankruptcy proceedings
against Hotel-Restaurant Forellenhof Robert GmbH on March 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Hotel-Restaurant Forellenhof Robert GmbH
         Bescheider Muehle
         54413 Bescheid
         Germany


HAMMERMEISTER GMBH: Claims Registration Ends April 20
-----------------------------------------------------
Creditors of Hammermeister GmbH have until April 20 to register
their claims with court-appointed insolvency manager Hans-Peter
Rechel.

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 Stade
         Hall 113
         Main Building
         Wilhadikirchhof 1
         21682 Stade
         Germany

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

The insolvency manager can be reached at:

         Hans-Peter Rechel
         Lehmweg 17
         20251 Hamburg
         Germany
         Tel: 040-480639-33
         Fax: 040-480639-99
         E-mail: hans-peter.rechel@wzr-legal.com

The District Court of Stade opened bankruptcy proceedings
against Hammermeister GmbH on March 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Hammermeister GmbH
         Wegefahrels 57
         21706 Drochtersen
         Germany


HARMAN BACKEREI: Creditors' Meeting Slated for April 26
-------------------------------------------------------
The court-appointed insolvency manager for Harman Backerei GmbH,
Frank-Michael Rhode, will present his first report on the
Company's insolvency proceedings at a creditors' meeting at
9:30 a.m. on April 26.

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 28 at the same venue.

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

The insolvency manager can be reached at:

         Frank-Michael Rhode
         Graf-Moltke-Str. 62
         28211 Bremen
         Germany
         Tel: 0421/3485212/213
         Fax: 0421/341078
         E-mail: info@rhode.de
         Web: http://www.rhode.de/

The District Court of Bremen opened bankruptcy proceedings
against Harman Backerei GmbH on March 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Harman Backerei GmbH
         Mahndorfer Heerstr. 63/65
         28307 Bremen
         Germany


JOHANNES SCHULMEISTER: Claims Registration Ends May 2
-----------------------------------------------------
Creditors of Johannes Schulmeister Elektrotechnik GmbH have
until May 2 to register their claims with court-appointed
insolvency manager Axel Geese.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on May 22, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of 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:

         Axel Geese
         Adenauerplatz 4
         33602 Bielefeld
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against Johannes Schulmeister Elektrotechnik GmbH on March 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Johannes Schulmeister Elektrotechnik GmbH
         Paderborner Strasse 442
         33415 Verl
         Germany

         Attn: Johannes Schulmeister, Manager
         Kattenheider Weg 24
         33161 Hovelhof
         Germany


JUNGELS ZAHNTECHNIK: Claims Registration Ends April 25
------------------------------------------------------
Creditors of Jungels Zahntechnik GmbH have until April 25 to
register their claims with court-appointed insolvency manager
Dr. Andreas Schulte-Beckhausen.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on May 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 Bonn
         Hall S 2.22
         Second Stock
         William-Strasse 21
         53111 Bonn
         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. Andreas Schulte-Beckhausen
         Oxfordstr. 2
         53111 Bonn
         Germany
         Tel: 0228/985210
         Fax: 0228/9852122

The District Court of Bonn opened bankruptcy proceedings against
Jungels Zahntechnik GmbH on March 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Jungels Zahntechnik GmbH
         geboren
         ReichsstraŠe 41c
         53125 Bonn
         Germany

         Attn: Rolf Jungels, Manager
         Reichsstr. 41c
         53125 Bonn
         Germany


OPTIMA LOGISTICS: Claims Registration Ends April 28
---------------------------------------------------
Creditors of Optima Logistics GmbH have until April 28 to
register their claims with court-appointed insolvency manager
Thomas Becker.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on May 22, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of 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:

         Thomas Becker
         Wandfarberstr. 8
         21335 Lueneburg
         Germany
         Tel: 24 100
         Fax: 24 10 88

The District Court of Lueneburg opened bankruptcy proceedings
against Optima Logistics GmbH on Feb. 23.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Optima Logistics GmbH
         Attn: Stefanie Grimm, Manager
         Elba 12a
         21365 Adendorf
         Germany


PETERSHANS & BETZLER: Claims Registration Ends April 13
-------------------------------------------------------
Creditors of Petershans & Betzler GmbH &Co. KG have until
April 13 to register their claims with court-appointed
insolvency manager Arndt Geiwitz.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on May 14, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Arndt Geiwitz
         Bahnhofstr. 39
         89231 Neu-Ulm
         Germany
         Tel: 0731/97018-0
         Fax: 0731/97018-65
         E-mail: neu-ulm@skp-de.com

The District Court of Aalen opened bankruptcy proceedings
against Petershans & Betzler GmbH &Co. KG on March 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Petershans & Betzler GmbH &Co. KG
         Aalener Strasse 96
         73447 Oberkochen
         Germany

         Attn: Johann Schmidt, Manager
         Ahornrain 3
         73447 Oberkochen
         Germany


PETERSHANS GMBH: Claims Registration Ends April 13
--------------------------------------------------
Creditors of Petershans GmbH have until April 13 to register
their claims with court-appointed insolvency manager Arndt
Geiwitz.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on May 14, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Arndt Geiwitz
         Bahnhofstr. 39
         89231 Neu-Ulm
         Germany
         Tel: 0731/97018-0
         Fax: 0731/97018-65
         E-mail: neu-ulm@skp-de.com

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

The Debtor can be reached at:

         Petershans GmbH
         Aalener Strasse 96
         73447 Oberkochen
         Germany

         Attn: Johann Schmidt, Manager
         Ahornrain 3
         73447 Oberkochen
         Germany


PETZOLD DER FRISEUR: Claims Registration Ends April 19
------------------------------------------------------
Creditors of Petzold - Der Friseur - GmbH have until April 19 to
register their claims with court-appointed insolvency manager
Georg Welslau.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on May 10, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Bielefeld
         Meeting Hall 4065
         Fourth Floorr
         Gerichtstr. 6
         33602 Bielefeld
         Germany

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

The insolvency manager can be reached at:

         Georg Welslau
         Marienstr. 62
         32427 Minden
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against Petzold - Der Friseur - GmbH on March 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Petzold - Der Friseur - GmbH
         Attn: Marion Petzold, Manager
         Petershager Weg 208
         32425 Minden
         Germany


PROFISOFT VERTRIEBSGESELLSCHAFT: Creditors' Claims Due April 20
---------------------------------------------------------------
Creditors of PROFISOFT Vertriebsgesellschaft fuer Mikrocomputer-
Soft-und Hardware mbH have until April 20 to register their
claims with court-appointed insolvency manager Stephan Michels.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on June 6, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Stephan Michels
         PLUTA Rechtsanwalts GmbH
         Lublinring 12
         Germany
         48147 Muenster
         Tel.: 0251/162830
         Fax: 0251/16283-11

The District Court of Osnabrueck opened bankruptcy proceedings
against PROFISOFT Vertriebsgesellschaft fuer Mikrocomputer-
Soft-und Hardware mbH on Feb. 28.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         PROFISOFT Vertriebsgesellschaft fuer Mikrocomputer-
         Soft-und Hardware mbH
         Eversburger Strasse 34/36
         49090 Osnabrueck
         Germany


PROSIEBENSAT.1 MEDIA: Closes Share Purchase Agreement
-----------------------------------------------------
The share purchase agreement dated Dec. 14 between Lavena
Holding 4 GmbH, which is controlled by funds advised by Kohlberg
Kravis Roberts & Co. and Permira, and German Media Partners
L.P., for the acquisition of German Media's majority interest in
ProSiebenSat.1 Media AG closed March 6, finalizing the transfer
of legal ownership of the majority interest in ProSiebenSat.1.

Lavena Holding now owns about 88% of the voting common stock and
around 13% of the non-voting preferred stock, for a total of
about 50.5% of the capital stock of ProSiebenSat.1.

The EU Commission cleared the acquisition on Feb. 22 and the
national Commission on Concentration in the Media approved the
takeover on Feb. 6, consistent with legislation regulating media
ownership in Germany.

The close of this transaction represents the conclusion of the
successful restructuring of ProSiebenSat.1 Group, which was
bought from the insolvency administrator of the Kirch empire and
transformed into a highly profitable and fast-growing group.

During GMP's ownership, listed preference shares of
ProSiebenSat.1 grew 337% from EUR7.43 per share at the time of
the acquisition to March 6's share price of EUR25.05.

"The company's senior management was instrumental in the
remarkable achievements during GMP's ownership and for creating
significant value for all shareholders.  We are extremely
grateful for management's efforts, led by Guillaume de Posch,
over the last couple of years," Haim Saban, chairman and chief
executive officer of the Saban Capital Group Inc., and chairman
of the ProSiebenSat.1 supervisory board disclosed.

German Media Partners will pay a special bonus totaling EUR23
million to the senior management group and employees of
ProSiebenSat.1.  German Media, the departing shareholding will
solely fund the bonus.

As of the closing of the share purchase agreement, Haim Saban,
Adam Chesnoff, John Connaughton, Albert Dobron, Patrick Healy,
Ynon Kreiz, Seth Lawry, Stephen Pagliuca, Brian Powers, Arieh
Saban, Scott Sperling and Joshua Steiner, all resign as members
of the supervisory board of ProSiebenSat.1.

                          About Permira

Permira -- http://www.permira.com/-- is a leading international
Private Equity specialist. As an independent business, Permira
is owned and controlled by its partners.  The firm's team of
around 100 professionals, based in Frankfurt, London, Madrid,
Milan, New York, Paris, Stockholm and Tokyo, advises the Permira
Funds with a total committed capital of more than EUR21 billion.
Since 1985, the Permira Funds have completed over 180 private
equity transactions.  During the last year, the Permira Funds
have completed seven transactions with a combined transaction
value of over EUR30 billion.

                            About KKR

Kohlberg Kravis Roberts & Co. -- http://www.kkr.com/ -- is one
of the world's oldest and most experienced private equity firms
specializing in management buyouts. Founded in 1976, it has
offices in New York, Menlo Park, London, Paris, Hong Kong and
Tokyo.  Throughout its history, KKR has brought a long-term
investment approach to its portfolio companies, focusing on
working in partnership with management teams and investing for
future competitiveness and growth.  Over the past 30 years, KKR
has completed 146 transactions with an aggregate value of more
than US$260 billion.

                   About German Media Partners L.P.

German Media Partners L.P. is comprised of Saban Capital Group
Funds (26%), Bain Capital Partners Funds (18.6%), Hellman &
Friedman Funds (18.6%), Thomas H. Lee Partners Funds (18.6%),
Providence Equity Funds (11.2%), Quadrangle Funds (5.9%) and
Alpine Funds (1.1%).  German Media Partners indirectly owns
50.5% of the share capital and 88.0% of the voting rights of
ProSiebenSat.1 Media AG.  In total, German Media Partners owns
13.0% of the preference shares and 88% of the common voting
shares of ProSiebenSat.1 Media AG through P7S1 Holding II
S.a.r.l.

                     About Saban Capital Group

Saban Capital Group, Inc. is a private investment firm
specializing in the media and entertainment industries.  Based
in Los Angeles, SCG was established in 2001 by Haim Saban,
founder of global family entertainment company Saban
Entertainment, a global television broadcasting, production,
distribution, merchandising, and music company that was sold to
the Walt Disney Corp. in October 2001 in a US$5.2 billion
transaction.  The firm makes both controlling and minority
investments in public and private companies and adds strategic
value through its established relationships and industry
experience.  SCG is also invested in Bezeq, Israel's national
telecommunication provider.  In addition, SCG owns and operates
a music company, Saban Music Group, which operates an
independent music-publishing company.

                      About ProsiebenSat.1

Headquartered in Munich, Germany, ProsiebenSat.1 Media AG --
http://en.ProsiebenSat1.com/-- broadcasts and produces
television programs through four German language television
channels as well as a range of ancillary activities.  It was
formed in 2000 with the merger of Germany's leading broadcasters
ProSieben Media AG and Sat.1.  It is the largest and most
successful television corporation in Germany with four stations
-- Sat.1, ProSieben, kabel eins and N24.

                           *    *    *

Moody's Investors Service placed the Ba1 senior unsecured and
corporate family ratings of ProsiebenSat.1 Media AG on review
for possible downgrade on Dec. 19, 2006.  Moody's also assigned
a Ba1 rating on the company's Senior Unsecured Debt.


PROTEK GMBH: Creditors Must Register Claims by April 10
-------------------------------------------------------
Creditors of Protek GmbH have until April 10 to register their
claims with court-appointed insolvency manager Gerd Mensendiek.

Creditors and other interested parties are encouraged to attend
the meeting at 9:40 a.m. on May 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 Osnabrueck
         Hall N 301
         Kollegienwall 10
         49074 Osnabrueck
         Germany

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

The insolvency manager can be reached at:

         Gerd Mensendiek
         Detmolder Str. 43
         33604 Bielefeld
         Germany
         Tel: 0521/96641-0
         Fax: 0521/96641-90

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

The Debtor can be reached at:

         Protek GmbH
         Am Muehlenkamp 27
         49086 Osnabrueck
         Germany


RAUMGESTALTUNG ENDRES: Creditors Must File Claims by April 15
-------------------------------------------------------------
Creditors of Raumgestaltung Endres GmbH have until April 15 to
register their claims with court-appointed insolvency manager
Markus Schadler.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 25, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Markus Schadler
         Hofstrasse 3
         97070 Wuerzburg
         Germany
         Tel: 0931/45202950

The District Court of Wuerzburg opened bankruptcy proceedings
against Raumgestaltung Endres GmbH on March 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Raumgestaltung Endres GmbH
         Baumhofstr. 15
         97828 Marktheidenfeld
         Germany


REGENT ZIEGELHAUS: Creditors Must Register Claims by July 18
------------------------------------------------------------
Creditors of Regent Ziegelhaus GmbH Erfurt have until July 18 to
register their claims with court-appointed insolvency manager
Carsten Bloss.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on Aug. 1, 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 Erfurt
         Hall 15
         Judicial Center
         Rudolfstr. 46
         99092 Erfurt
         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:

         Carsten Bloss
         Charlottenstr. 7
         99096 Erfurt
         Germany

The District Court of Erfurt opened bankruptcy proceedings
against Regent Ziegelhaus GmbH Erfurt on Feb. 28.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Regent Ziegelhaus GmbH Erfurt
         Weimarische Strasse 16 a
         99099 Erfurt
         Germany


RENNSTEIGTOUR REISE: Claims Registration Ends May 4
---------------------------------------------------
Creditors of Rennsteigtour Reise- und Service GmbH have until
May 4 to register their claims with court-appointed insolvency
manager Peter Scholl.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 a.m. on May 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 Meiningen
         Meeting Hall A 0208
         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 Rennsteigtour Reise- und Service GmbH on March 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Rennsteigtour Reise- und Service GmbH
         Attn: Kraneis, Guenther, Manager
         Rennsteigstrasse 2-6
         98544 Zella-Mehlis
         Germany


S & N BAU: Claims Registration Ends April 20
--------------------------------------------
Creditors of S & N Bau GmbH have until April 20 to register
their claims with court-appointed insolvency manager Lucas F.
Flother.

Creditors and other interested parties are encouraged to attend
the meeting at 3:00 p.m. on May 8, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Stendal
         Hall 411
         Albrecht der Bar
         Scharnhorststrasse 40
         39576 Stendal
         Germany

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

The insolvency manager can be reached at:

         Dr. Lucas F. Flother
         Halberstadter Strasse 55
         39112 Magdeburg
         Germany
         Tel: 0391/5 55 68 40
         Fax: 0391/5 55 68 49

The District Court of Stendal opened bankruptcy proceedings
against S & N Bau GmbH on March 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         S & N Bau GmbH
         Martin-Schwantes-Str. 60
         39245 Gommern
         Germany

         Attn: Sven Nowak, Manager
         Gartenstr. 7
         39291 Mockern
         Germany


SANITATSHAUS ULM: Creditors' Meeting Slated for March 29
--------------------------------------------------------
The court-appointed insolvency manager for Sanitatshaus Ulm
GmbH, Martin Schoebe, will present his first report on the
Company's insolvency proceedings at a creditors' meeting at
1:00 p.m. on March 29.

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

         The District Court of Ulm
         Hall 103
         Olgastr. 107
         89073 Ulm
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 1:00 p.m. on May 31 at the same venue.

Creditors have until April 20 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Martin Schoebe
         Neue Strasse 97-99
         89073 Ulm
         Germany
         Tel: 0731/2079800
         Fax: 0731/2079850
         E-mail: ulm@hww-kanzlei.de
         Web: http://www.hww-kanzlei.de/

The District Court of Ulm opened bankruptcy proceedings against
Sanitatshaus Ulm GmbH on March 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Sanitatshaus Ulm GmbH
         Muensterplatz 25
         89073 Ulm
         Germany


SCHARF BAUGESCHAFT: Claims Registration Ends May 7
--------------------------------------------------
Creditors of Scharf Baugeschaft GmbH & Co. KG have until May 7
to register their claims with court-appointed insolvency manager
Detlef Stuermann.

Creditors and other interested parties are encouraged to attend
the meeting at 3:05 p.m. on June 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 Delmenhorst
         Hall 2
         Branch 1
         Cramerstrasse 183
         27749 Delmenhorst
         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:

         Detlef Stuermann
         Domshof 18-20
         28195 Bremen
         Germany
         Tel: 0421/3686-0
         Fax: 0421/3686-100

The District Court of Delmenhorst opened bankruptcy proceedings
against Scharf Baugeschaft GmbH & Co. KG on March 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Scharf Baugeschaft GmbH & Co. KG
         Attn: Wolfgang Scharf, Manager
         Diepholzer Str. 3
         27751 Delmenhorst
         Germany


TIEDEMANN GMBH: Claims Registration Period Ends April 12
--------------------------------------------------------
Creditors of Tiedemann GmbH have until April 12 to register
their claims with court-appointed insolvency manager Wolfgang
Weidemann.

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

The meeting of creditors will be held at:

         The District Court of Lueneburg
         Hall 302
         Am Ochsenmarkt 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:

         Wolfgang Weidemann
         Wendenstr. 4
         20097 Hamburg
         Germany
         Tel: 040 / 23 32 85
         Fax: 040 / 23 38 10


The District Court of Lueneburg opened bankruptcy proceedings
against Tiedemann GmbH on Feb. 21.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Tiedemann GmbH
         Hittfelder Kirchweg 2
         21220 Seevetal
         Germany

         Attn: Jens Tiedemann, Manager
         Im Auetal 39
         21271 Hanstedt
         Germany


VERMIETUNGSGESELLSCHAFT MBH: Claims Registration Ends March 13
--------------------------------------------------------------
Creditors of Ruetten Vermietungsgesellschaft mbH have until
March 13 to register their claims with court-appointed
insolvency manager Peter Scholl.

Creditors and other interested parties are encouraged to attend
the meeting at 1:00 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 Gera
         Rudolf-Diener-Str. 1
         Zimmer 317
         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
         Andreasstrasse 39
         99084 Erfurt
         Germany

The District Court of Gera opened bankruptcy proceedings against
Ruetten Vermietungsgesellschaft mbH on March 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Ruetten Vermietungsgesellschaft mbH
         Attn: Wolfgang Rutten, Manager
         Hermsdorf 31 a
         07554 Gera
         Germany


VISTEON CORP: Posts US$163 Million Net Loss in Full-Year 2006
-------------------------------------------------------------
Visteon Corp. has filed its 2006 annual financial statements on
Form 10-K with the U.S. Securities and Exchange Commission.

The company reported total net sales of US$11.41 billion for
full-year 2006, including product sales of US$10.87 billion and
services sales of US$547 million.  It reported total net sales
of US$16.97 billion for full year 2005.

Visteon's net loss of US$163 million for full year 2006
represents an improvement of US$107 million over 2005's net loss
of US$270 million despite lower sales levels.

Contractual obligations as of Dec. 31, 2006 were US$4.87
billion.  The Company has guaranteed approximately US$77 million
of debt capacity held by subsidiaries, and US$97 million for
lifetime lease payments held by consolidated subsidiaries.

In addition, the Company has guaranteed Tier 2 suppliers' debt
and lease obligations and other third-party service providers'
obligations of up to US$17 million at Dec. 31, 2006, to ensure
the continued supply of essential parts.

Visteon's balance sheet at Dec. 31, 2006, reflects total assets
of US$6.93 billion and total liabilities of US$7.12 billion,
resulting in a total shareholders' deficit of US$188 million.
The company's total shareholders' deficit as of Dec. 31, 2005,
stood at US$48 million.

As of Dec. 31, 2006, the company's cash and cash equivalents
were US$1.05 billion, as compared with US$865 million a year
earlier.

A full-text copy of the company's annual report is available for
free at http://ResearchArchives.com/t/s?1af1

                        About Visteon Corp.

Headquartered in Van Buren Township, Mich., Visteon Corp.
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic, and lighting products for vehicle
manufacturers, and also provides a range of products and
services to aftermarket customers.  With corporate offices in
the Michigan, U.S.; Shanghai, China; and Kerpen, Germany; the
company has more than 170 facilities in 24 countries and employs
around 50,000 people.

                        *     *     *

As reported in the Troubled Company Reporter on Dec. 5, 2006,
Standard & Poor's Ratings Services affirmed its bank loan and
recovery ratings on auto supplier Visteon Corp.'s senior secured
bank facility, following the announcement that the company will
increase its term loan to US$1 billion from US$800 million.

The secured loan rating is 'B' and the recovery rating is '2',
indicating the expectation for substantial (80%-100%) recovery
of principal in the event of a payment default.

As reported in the Troubled Company Reporter on Nov. 24, 2006,
Moody's Investors Service has downgraded Visteon Corporation's
Corporate Family Rating to B3 from B2, changed the ratings
outlook to stable from under review for possible downgrade and
affirmed the company's liquidity rating of SGL-3.


W & W ALTENBURGER: Claims Registration Period Ends April 13
-----------------------------------------------------------
Creditors of W & W Altenburger Hof GmbH have until April 13 to
register their claims with court-appointed insolvency manager
Bernd Krumbholz.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.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 Gera
         Hall 317
         Rudolf-Diener-Str. 1
         Gera
         Germany

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

The insolvency manager can be contacted at:

         Bernd Krumbholz
         Fr.-Engels-Str. 1a
         07545 Gera
         Germany

The District Court of Gera opened bankruptcy proceedings against
W & W Altenburger Hof GmbH on March 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         W & W Altenburger Hof GmbH
         Schmoellnsche Landstrasse 8
         04600 Altenburg
         Germany


WIMA-GASTRONOMIE: Claims Registration Period Ends April 18
----------------------------------------------------------
Creditors of WIMA-Gastronomie GmbH have until April 18 to
register their claims with court-appointed insolvency manager
Stefan Bick.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on May 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 Osnabrueck
         Branch N 301
         Kollegienwall 10
         49074 Osnabrueck
         Germany

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

The insolvency manager can be reached at:

         Stefan Bick
         Neumarkt 8
         49074 OsnabrĀck
         Germany
         Tel: 0541/358300
         Fax: 0541/3583025


The District Court of Osnabrueck opened bankruptcy proceedings
against WIMA-Gastronomie GmbH on Feb. 28.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         WIMA-Gastronomie GmbH
         Attn: Wolfgang Winkler, Manager
         Domhof 7b
         49074 Osnabrueck
         Germany


ZIMMER& SOEHNE: Claims Registration Period Ends May 23
------------------------------------------------------
Creditors of Transportgesellschaft mit beschrankter Haftung
Walter Zimmer& Soehne have until May 23 to register their claims
with court-appointed insolvency manager Dr. Oliver Jakob.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on June 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 Ludwigsburg
         Hall 2008
         Palace Schuetz
         Schorndorfer Str. 28
         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:

         Dr. Oliver Jakob
         Loeffelstr. 1
         70597 Stuttgart
         Germany
         Tel: (0711) 720715-0

The District Court of Ludwigsburg opened bankruptcy proceedings
against Transportgesellschaft mit beschrankter Haftung Walter
Zimmer& Soehne on March 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Transportgesellschaft mit beschrankter Haftung Walter
         Zimmer& Soehne
         Attn: Richard Zimmer, Manager
         Steinheimer Str. 13
         71691 Freiberg/N
         Germany


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


AFFILIATED COMPUTER: Earns US$72.1 Mln in Quarter Ended Dec. 31
---------------------------------------------------------------
Affiliated Computer Services Inc. reported net income of
US$72.1 million on revenues of US$1.426 billion for the second
quarter of fiscal 2007 ended Dec. 31, 2006, compared with net
income of US$102.4 million on revenues of US$1.347 billion for
the second quarter of the prior year.

"I am very pleased with our results this quarter.  We saw
improvements in operating margins in both the Commercial and
Government segments.  Our renewal rates were excellent at
approximately 90% for the second quarter and approximately 95%
for the first six months of the year.  I would like to thank our
clients for their continued confidence in ACS," said Lynn
Blodgett, ACS' president and chief executive officer.

"Internal revenue growth in our Government segment improved to
4% which is a sign that the steps we started taking 18 months
ago to restructure our sales force have driven the desired
results.  We achieved good cash flow results in the second
quarter and reduced capital expenditures in absolute terms and
as a percent of revenue from the prior year and prior quarter.
All in all this was a good quarter for ACS.  We could not have
achieved these results without our resilient and dedicated
workforce and I appreciate all of their efforts."

Other key highlights from ACS' fiscal 2007 second-quarter report
include:

  -- Total revenue growth for the second quarter was 6% from
     prior year quarter.  Total revenue growth was 10% after
     adjusting for the divestiture of the welfare to workforce
     services ("WWS") business, substantially all of which was
     divested in the second quarter of fiscal 2006 ("WWS
     Divestiture").  Consolidated internal revenue growth
     for the second quarter was 4%.

  -- Cash flow from operations was approximately US$132 million,
     or 9% of revenues.  Capital expenditures and additions to
     intangible assets were approximately US$75 million, or 5%
     of revenues.  Cash flow results included cash interest paid
     on debt, cash paid related to legal and other costs
     associated with the ongoing stock option investigations and
     shareholder derivative lawsuits, offset by cash interest
     income, totaling US$65 million, or 5% of revenues.

  -- During the second quarter, the company acquired Systech
     Integrators Inc. for US$65 million, plus contingent
     payments of up to US$40 million based upon future
     performance.  Systech, with trailing twelve months of
     revenue of approximately US$61 million, is a premier
     partner of SAP Americas and will expand ACS' existing SAP
     service offering with consulting and systems integration
     services.

  -- During the quarter, the company signed contracts with
     US$166 million of annual recurring revenue and total
     contract value of approximately US$1.1 billion.  The
     company renewed US$162 million of annual recurring revenue
     with total contract value of US$553 million during the
     quarter.

At Dec. 31, 2006, the company's balance sheet showed
US$5.928 billion in total assets, US$4.038 billion in total
liabilities, and US$1.89 billion in total stockholders' equity.

Full-text copies of the company's consolidated financial
statements for the quarter ended Dec. 31, 2006, are available
for free at http://researcharchives.com/t/s?1ae7

                     About Affiliated Computer

A FORTUNE 500 company, Affiliated Computer Services Inc.,
(NYSE: ACS) -- http://www.acs-inc.com/ -- provides business
process outsourcing and information technology solutions to
world-class commercial and government clients.  The company has
more than 58,000 employees supporting client operations in
nearly 100 countries.  The company has global operations in
Brazil, China, Dominican Republic, India, Guatemala, Ireland,
Philippines, Poland and Singapore.


AFFILIATED COMPUTER: S&P Upgrades Corporate Credit Rating to BB
---------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
and senior secured ratings on Affiliated Computer Services Inc.
to 'BB' from 'B+' and removed the ratings from CreditWatch
positive.  The outlook is stable.

"The rating actions reflect the filing of audited financial
reports and the elimination of any triggering events that might
have caused a payment acceleration on the company's US$2 billion
of term debt," said Standard & Poor's credit analyst Philip
Schrank.

The company has completed its internal investigation into its
historical stock option practices.  In response to the
investigation's findings, the company recognized a noncash,
cumulative pretax restatement for previously unrecognized stock-
based compensation expense of US$51.2 million.

The current ratings incorporate the capacity ACS has put in
place to add significantly more debt through both a US$1 billion
debt revolver, and uncommitted accordion loans, with very
flexible loan covenants.

"At the 'BB' rating level, our expectation is that ACS will
manage its debt leverage at between 3x-5x times over the
intermediate term, and may pursue further repurchases or
acquisitions," said Mr. Schrank.

ACS has maintained higher margins than many of its IT
outsourcing peers; some competitors have experienced revenue
deceleration and margin contraction.  While ACS faces
competitive threats from larger, more globally positioned IT
providers, the company's very strong position in state and local
government outsourcing services provides a measure of ratings
stability.


HARVEST CLO: Fitch Assigns BB Rating to EUR26-Mln Class E Notes
---------------------------------------------------------------
Fitch assigned Harvest CLO V P.L.C.'s upcoming issue of
EUR550 million floating-rate notes expected ratings.

   -- EUR212.0 million Class A-D floating-rate note due 2024:
      'AAA'

   -- EUR137.5 million Class A-R floating-rate note due 2024:
      'AAA'

   -- EUR27.5 million Class A2 floating-rate note due 2024:
      'AAA'

   -- EUR36.0 million Class B floating-rate note due 2024: 'AA'

   -- EUR34.0 million Class C floating-rate note due 2024: 'A'

   -- EUR22.0 million Class D floating-rate note due 2024: 'BBB'

   -- EUR26 million Class E floating-rate note due 2095: 'BB'

The transaction is a securitization of leveraged loans including
primarily senior secured loans, senior unsecured loans,
mezzanine obligations and high yield bonds.

The expected ratings of the Classes A-D, A-R, A2 and B notes
address the ultimate repayment of principal at maturity and the
timely payment of interest when due, according to the terms of
the notes.   For the Classes C, D and E notes, which can defer
interest, the expected rating address the ultimate payment of
principal and interest, including deferred interest, at
maturity.  The final ratings are contingent upon receipt of
final documents conforming to information already received.

The ratings are based on the quality and diversity of the
portfolio of assets, which are selected by the collateral
manager, Mizuho Investment Management Ltd., subject to the
guidelines outlined in the collateral management agreement.  The
guidelines limit the collateral manager's portfolio allocations
with respect to obligor, industry and asset type.  MIMUK will
actively manage the collateral over the seven-year reinvestment
period.  MIMUK's CDO Asset Manager rating of 'CAM 2' was
affirmed on May 17, 2006.

The ratings are also based on the credit enhancement provided to
the various classes of notes in the form of subordination,
structural protection and excess spread.  Credit enhancement, in
the form of subordination, for the class A-D and A-R notes will
total 34.79%, of which 5.13% will be provided by the A2 notes,
6.72% by the B notes, 6.34% by the C notes, 4.10% by the D
notes, 4.85% by the E notes and 7.65% by the unrated
subordinated class of notes.  Some of the EUR14 million proceeds
from the subordinated class of notes will be used to pay certain
initial expenses of the issuer rather than to purchase
collateral and therefore will not be available for
subordination.

Harvest CLO V P.L.C. is a limited liability company incorporated
under the laws of Ireland.  At the closing date, the issuer is
expected to have purchased at least 60% of the target portfolio;
the remainder will be purchased during the following 365 days.


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


ALITALIA SPA: Deutsche Lufthansa Not Eyeing Company
---------------------------------------------------
Deutsche Lufthansa AG is not interested in acquiring troubled
Italian carrier Alitalia S.p.A. or Iberia Lineas Aereas de
Espana SA, Bloomberg News reports citing Chief Executive
Wolfgang Mayrhuber as saying.

Mr. Mayhuber stressed that though Lufthansa is planning to
participate in mergers in Europe's airline industry, it is
currently not eyeing Alitalia or Iberia Lineas, Bloomberg News
says.

"The company has made no direct or indirect bid for Alitalia at
the moment and there are currently no concrete negotiations with
Iberia," the chief executive said in response to reports that it
is interested in Alitalia or Iberia Lineas.

"[The consolidation of the aviation industry] is a long-term
process in which Lufthansa wants to take part in a leading
position," Mr. Mayhuber told Bloomberg News.

According to Bloomberg, Lufthansa has sold stakes in firms not
vital to its core airline business.  The group, however, bought
Swiss International Air Lines Ltd. and increased its stake in
Eurowings to build up passenger services.  Lufthansa already
owns Air Dolomiti in Italy and has a partnership with SAS
Group's Madrid-based Spanair unit.

                         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.


TK ALUMINUM: Noteholders Agree to Amend Sr. Note Indenture
----------------------------------------------------------
Teksid Aluminum Luxembourg S.a.r.l., S.C.A., a subsidiary of TK
Aluminum Ltd., disclosed that as of 12:00 p.m., New York City
time (5:00 p.m., London time), on Wednesday, March 7, it had
validly delivered consents representing approximately 62% of the
EUR240,000,000 aggregate principal amount of its outstanding
11.375% Senior Notes due 2011, pursuant to its previously
announced solicitation of consents to implement proposed
amendments to the indenture governing the Senior Notes.

Consequently, the company has the requisite consents from
holders of Senior Notes required by the Indenture to execute a
supplemental indenture giving effect to the proposed amendments
to the Indenture.

The consent solicitation expires on March 8, at 10:00 a.m., New
York City time (3:00 p.m., London time).  The company may,
subject to certain restrictions, amend, extend, or terminate the
consent solicitation at any time in its sole discretion.

The proposed indenture amendments:

   (i) permit the previously announced sale of certain assets
       and operations to Tenedora Nemak, S.A. de C.V., a
       subsidiary of Alfa, S.A.B. de C.V. on such amended terms
       as the company may negotiate, as long as certain
       conditions outlined in proposed amendments are satisfied;
       and

  (ii) implement the other terms that were agreed to with the
       financial and legal advisors to the adhoc committee of
       Noteholders, which were previously announced in the
       company's Feb. 27 press release.  The proposed indenture
       amendments and terms of the consent solicitation are
       described in the Consent Solicitation Statement dated
       March 2.

The company has executed a term sheet with Nemak indicating
revised terms for the Nemak Sale, taking into account the most
current circumstances.  The company continues to work with Nemak
to finalize definitive documentation consistent with these terms
and consummate the Nemak Sale.  The term sheet with Nemak places
Nemak under no obligation to consummate the Nemak Sale until a
definitive agreement to amend the transaction has been executed.
Failure to close the Nemak Sale could materially and adversely
affect the company's ability to continue trading.  Closing of
the amended Nemak Sale is subject to various conditions,
including the execution of the Supplemental Indenture and other
customary conditions, including regulatory approvals.

The completion of the consent solicitation is subject to, among
other things, the due execution of the Supplemental Indenture
and certain other general conditions described in the Statement.
These conditions are for the company's sole benefit and the
company may waive them in whole or in part at any time or at
various times prior to the expiration of the consent
solicitation in its sole discretion.

                    About Teksid Aluminum

Teksid Aluminum -- http://www.teksidaluminum.com/--  
manufactures aluminum engine castings for the automotive
industry.  Principal products include cylinder heads, engine
blocks, transmission housings, and suspension components.  The
company operates 15 manufacturing facilities in Europe, North
America, South America, and Asia.  The company maintains
operations in Italy, Brazil, and China.

Until Sept. 2002, Teksid Aluminum was a division of Teksid
S.p.A., which was owned by Fiat.  Through a series of
transactions completed between Sept. 30, 2002 and Nov. 22, 2002,
Teksid S.p.A. sold its aluminum foundry business to a consortium
of investment funds led by equity investors that include
affiliates of each of Questor Management Company, LLC, JPMorgan
Partners, Private Equity Partners SGR SpA and AIG Global
Investment Corp.  As a result of the sale, Teksid Aluminum is
now owned by its equity investors through TK Aluminum Ltd., a
Bermuda holding company.

                          *     *     *

On Jan. 16, Moody's Investors Service placed TK Aluminum
Ltd.'s long-term corporate family rating at Caa3.


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


RIVERA LLC: Creditors' Meeting Slated for March 19
--------------------------------------------------
Creditors of LLC Rivera will convene at 10:00 a.m. on March 19
at:

         L. Tolstoy Str. 100
         Bishkek
         Kyrgyzstan

The Inter-District Court of Bishkek for Economic Issues declared
LLC Rivera (Case No.03-145/m04c9) insolvent on Feb. 15, 2005.
Subsequently, bankruptcy proceedings were introduced at the
company.

Creditors must submit their proofs of claim and be registered
within seven days before the meeting with the temporary
insolvency manager.

Proxies must have authorization to vote.

The temporary insolvency manager is:

         Kubatbek Samaibekov
         Tel: (+996 3138) 5-12-39


TRANS-ENERGO LLC: Claims Filing Period Ends April 20
----------------------------------------------------
LLC Trans-Energo (INN 02012200510049) has declared insolvency.
Creditors have until April 20 to submit written proofs of claim
to:

         LLC Trans-Energo
         Zadneprovskaya Str. 21
         Osh
         Kyrgyzstan


=====================
N E T H E R L A N D S
=====================


GETRONICS NV: Moody's Confirms Junk Rating on 2008 Bonds
--------------------------------------------------------
Moody's confirms the current B2 corporate family rating of
Getronics N.V.

Concurrently the Caa1 rating on the approximately EUR11-million
of remaining convertible bonds due 2008 is also confirmed.  The
Caa1 rating on 2008 bonds is expected to be unchanged upon the
implementation of Moody's Loss Given Default Methodology
beginning March 19.  A negative outlook for ratings was
assigned.  Moody's will withdraw the rating on the 2008 notes if
they are fully redeemed.

Ratings actions followed Getronics' announcement of 2006-year
end results, which showed subdued performance but improvements
from the June 2006 half-year results.  Whilst positive actions
have been taken, impacts are not yet sufficiently visible in
financial results.  Therefore, the company continues to be
weakly positioned within the B2 rating such that
underperformance in credit metrics or liquidity in future
quarterly results could cause ratings to move downwards.  This
would need to be considered in the context of the company's
seasonality.  Moody's factors Getronic's scale in the ratings,
with close to 25,000 employees and EUR2.6 billion in revenues
reported for 2006, together with momentum in new contracts
expected to come on-stream in 2007.

The divestment program, on-going restructuring, change in
business focus and senior executive changes indicate a business
in transition.  The negative outlook reflects uncertainty
surrounding the impact of these changes and the company's
position ahead.  Financial results to Dec. 31, 2006 do not
demonstrate sufficient recovery to stabilize the ratings.

Getronics also operates in a highly competitive environment that
is subject to cyclical pressures and continuous change.  Event
risk is material given Getronics' divestment and restructuring
programs and its plans to reduce costs, improve margins and
reduce leverage.  However, the rating does factor the positive
changes made, momentum in new contracts to commence in 2007, the
significantly improved liquidity position and a higher
percentage of contracted revenues for 2007 versus prior years.
The seasonality of the business means that Moody's expects cash
flows in the first half of 2007 to continue to be weak.

A summary of today's ratings actions follows:

   -- the corporate family rating at Getronics NV is confirmed
      at B2;

   -- the rating on EUR11-million senior unsecured convertible
      Dutch bonds due 2008 at Getronics NV is confirmed at Caa1.

The outlook is Negative.

Headquartered in Amsterdam, The Netherlands, Getronics is a
leading international Information and Communications Technology
provider.  For the twelve months ended Dec. 31, 2006, Getronics
reported total revenues of around EUR2.6 billion.


NEPTUNO CLO: Moody's Rates EUR26-Mln Class E Notes at (P)Ba3
------------------------------------------------------------
Moody's assigned these provisional ratings to six classes of
notes to be issued by Neptuno CLO I B.V., a bankruptcy remote
special purpose vehicle incorporated in the Netherlands:

   -- EUR223-million Class A-T Senior Secured Floating Rate
      Notes due 2023: (P)Aaa;

   -- EUR100-million Class A-R Senior Secured Revolving Floating
      Rate Notes due 2023: (P)Aaa;

   -- EUR48-million Class B Senior Secured Floating Rate Notes
      due 2023: (P)Aa2;

   -- EUR25-million Class C Senior Secured Deferrable Floating
      Rate Notes due 2023: (P)A2;

   -- EUR28-million Class D Senior Secured Deferrable Floating
      Rate Notes due 2023: (P)Baa3; and

   -- EUR26-million Class E Senior Secured Deferrable Floating
      Rate Notes: (P)Ba3.

These provisional ratings are based upon:

   1. An assessment of the credit quality and of the
      diversification of the assets in the initial portfolio;

   2. An assessment of the eligibility criteria applicable to
      the future additions to the portfolio;

   3. The overcollateralisation of the notes;

   4. The protection against losses through the subordination of
      the Class B, C, D, E notes, the EUR50-million subordinated
      notes and the excess spread available in the transaction;

   5. The analysis of the foreign currency risk involved in the
      transaction; and

   6. The legal and structural integrity of the issue.

The ratings of the notes address the expected loss posed to
investors by the legal maturity of each class in 2023.

Moody's issues provisional ratings in advance of the final sale
of securities, but these ratings only represent Moody's
preliminary credit opinions.  Upon a conclusive review of the
transaction and associated documentation, Moody's will endeavor
to assign definitive ratings to the Notes.  A definitive rating
may differ from a prospective rating.

This transaction is a high yield collateralized loan obligation
related to a portfolio composed mostly of senior and mezzanine
loans.  This portfolio is dynamically managed by Caja de Ahorros
y Monte de Piedad de Madrid.  This portfolio will be partially
acquired at closing date and partially during the six-month
ramp-up period at the end of which the portfolio shall comply
with the following tests:

   -- diversity score greater than [35];
   -- weighted average rating factor lower than [2,380];
   -- weighted average spread greater than [2.50%]; and
   -- weighted average recovery rate greater than [55%].

Thereafter, the portfolio of loans will be actively managed and
the portfolio manager will have the option to direct the issuer
to buy or sell loans.  Any addition or removal of loans will be
subject to a number of portfolio criteria.

This transaction features a dual-currency revolving class of
notes (class A-R notes) that can be drawn either in Euro or in
Sterling.  Sterling advances will be initially used to purchase
loans denominated in Sterling.  Should such Sterling assets
default, Sterling advances would not be fully collateralized by
Sterling assets and therefore Euro proceeds may need to be
converted into Sterling in order to redeem Sterling advances,
thus creating a foreign exchange risk exposure. T his currency
risk has been considered in Moody's analysis.

This transaction is arranged by Barclays Capital.


===========
P O L A N D
===========


OCHRONY SRODOWISKA: Fitch Affirms D Individual Rating
-----------------------------------------------------
Fitch Ratings affirmed Bank Ochrony Srodowiska's ratings at
foreign currency Issuer Default 'BBB', Short-term 'F3',
Individual 'D' and Support '2'.  The Outlook on the foreign
currency IDR is Stable.

BOS's Support, IDR and Short-term ratings are based on the
potential support the bank can expect to receive from state-
controlled institutions in case of need.

Following the exit of Skandinaviska Enskilda Banken AB, which
held a 47.5% stake in BOS from 2002 until August 2006, and in
anticipation of an increased flow of public spending on the
environment subsequent to Poland's EU entry, BOS has changed its
strategy to increase focus on the financing of environmental
projects.  To allow for planned asset expansion in this area,
BOS is currently in the process of raising new equity in the
planned amount of PLN250 million.  However, at the end of
February 2007, the Ministry of Finance rejected NFOS's
application to acquire a majority of the new share issue.
According to BOS, talks are being held with alternative buyers,
including state-owned industrial companies, which could result
in the new shares being sold in subsequent share offerings in
March and April 2007.

Despite the apparent disagreement between the Ministry of
Environment, which controls NFOS, and the MoF, Fitch believes
that state support for BOS, in case of need, is highly probable.
However, the agency will closely monitor the progress of the
share offering, and will also be watching the government's
approach to environmental spending in Poland and its backing of
NFOS's and BOS's activities in this area.

NFOS, which acquired SEB's stake in August 2006, currently holds
78% of the bank.  Other shareholders include Katowice Voivodship
Fund for Environmental Protection and Water Management, state-
controlled company "State Forests", and PKO BP - the largest
bank in Poland, which itself is 51.5% state-owned.  BOS was set
up in 1991 by NFOS as a distribution arm for environmental
subsidies as well as for providing any additional financing
required for such projects.  At end-Q306, BOS was the 16th
largest bank in Poland with total assets of PLN8 billion and a
market share of 1.2% by total assets.


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


BALANKULSKOYE CJSC: Creditors Must File Claims by April 17
----------------------------------------------------------
Creditors of CJSC Balankulskoye have until April 17 to submit
proofs of claim to:

         L. Sitkina, Insolvency Manager
         Yubileynaya Str. 18-53
         Chernogorsk
         655158 Khakasiya
         Russia

The Arbitration Court of Khakasiya commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A74-2264/2006.

The Court is located at:

         The Arbitration Court of Khakasiya
         Post User Box 147
         Pushkina Str. 165
         Abakan
         655017 Khakasiya Republic
         Russia

The Debtor can be reached at:

         CJSC Balankulskoye
         Pulankol
         Azskiskiy, Khakasiya
         Russia


BEL-OBL-SEL-KHOZ-MONTAZH: Creditors Must File Claims by March 17
----------------------------------------------------------------
Creditors of CJSC Bel-Obl-Sel-Khoz-Montazh (TIN 3123040023) have
until March 17 to submit proofs of claim to:

         A. Tyutyunnikov, Insolvency Manager
         Apartment 12
         B. Khmelnitskogo Pr. 79
         308600 Belgorod
         Russia

The Arbitration Court of Belgorod commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A08-10238/06-2 B.

The Court is located at:

         The Arbitration Court of Belgorod
         Narodnyj Avenue 135
         308600 Belgorod
         Russia

The Debtor can be reached at:

         CJSC Bel-Obl-Sel-Khoz-Montazh
         Krasina Str. 149
         308000 Belgorod
         Russia


ETNA HOLDING: Creditors Must File Claims by March 17
----------------------------------------------------
Creditors of CJSC Etna Holding have until March 17 to submit
proofs of claim to:

         N. Rybakov, Insolvency Manager
         Office 53
         Nikolaeva Str. 14-a
         214004 Smolensk
         Russia

The Arbitration Court of Smolensk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A62-88/2007 (1257-N/07).

The Debtor can be reached at:

         N. Rybakov, Insolvency Manager
         Office 53
         Nikolaeva Str. 14-a
         214004 Smolensk
         Russia


HYDROSTROITEL OJSC: Udmurtiya Court Hearing Slated for June 8
-------------------------------------------------------------
The Arbitration Court of Udmurtiya will convene on June 8 to
hear the bankruptcy supervision procedure on OJSC Hydrostroitel.
The case is docketed under Case No. A71-9227/2006-G29.

The Temporary Insolvency Manager is:

         A. Belykh
         Post User Box 2194
         Izhevsk
         426063 Udmurtiya
         Russia

The Court is located at:

         The Arbitration Court of Udmurtiya
         Lomonosova Str. 5
         Izhevsk
         426004 Udmurtiya Republic
         Russia

The Debtor can be reached at:

         OJSC Hydrostroitel
         Koroleva Str. 4
         427260 Udmurtiya
         Russia


KANELOVSKOYE OJSC: Creditors Must File Claims by March 17
---------------------------------------------------------
Creditors of OJSC Kanelovskoye (TIN 2350006860) have until
March 17 to submit proofs of claim to:

         V. Rybachenko, Temporary Insolvency Manager
         Office NP TsAT
         Armavirskaya Str. 45
         Eysk
         353680 Krasnodar
         Russia

The Arbitration Court of Krasnodar commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. A-32-27123/2006-46/2550-B.

The Court is located at:

         The Arbitration Court of Krasnodar
         Staroderevenkovskaya St.
         Krasnodar
         Russia

The Debtor can be reached at:

         OJSC Kanelovskoye
         Pionerskaya Str. 5
         Kanelovskaya St.
         Starominskiy
         353614 Krasnodar
         Russia


KONYSHEVSKIY HEMP: Court Starts Bankruptcy Supervision Procedure
----------------------------------------------------------------
The Arbitration Court of Kursk commenced bankruptcy supervision
procedure on State Unitary Enterprise Konyshevskiy Hemp Factory.
The case is docketed under Case No. A35-8645/06 g.

The Temporary Insolvency Manager is:

         E. Slepushkina
         Apartment 6
         Studencheskaya Str. 16
         305040 Kursk
         Russia

The Court is located at:

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

The Debtor can be reached at:

         State Unitary Enterprise Konyshevskiy Hemp Factory
         Malakhovo
         Konyshevskiy, Kursk
         Russia


MASLOVO-PRISTANSKIY BRICKWORKS: Claims Filing Due by March 17
-------------------------------------------------------------
Creditors of LLC Maslovo-Pristanskiy Brickworks have until
March 17 to submit proofs of claim to:

         V. Masliev, Insolvency Manager
         Post User Box 718
         308033 Belgorod
         Russia

The Arbitration Court of Belgorod commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A08-10051/06-2B.

The Court is located at:

         The Arbitration Court of Belgorod
         Narodnyj Avenue 135
         308600 Belgorod
         Russia

The Debtor can be reached at:

         LLC Maslovo-Pristanskiy Brickworks
         Zelenaya Str. 4
         M. Pristan
         Shebekinskiy
         309276 Belgorod
         Russia


NEW WAY: Orel Court Names M. Enukashvili as Insolvency Manager
--------------------------------------------------------------
The Arbitration Court of Orel appointed Mr. M. Enukashvili as
Insolvency Manager for CJSC New Way.  He can be reached at:

         M. Enukashvili
         Office 201
         Dovatora Str. 12
         398024 Lipetsk
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A48-5b71/05-20b.

The Court is located at:

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

The Debtor can be reached at:

         M. Enukashvili
         Office 201
         Dovatora Str. 12
         398024 Lipetsk
         Russia


NIKOM CJSC: Creditors Must File Claims by March 17
--------------------------------------------------
Creditors of CJSC Nikom have until March 17 to submit proofs of
claim to:

         V. Golovan, Insolvency Manager
         Office 201
         Dovatora Str. 12
         398024 Lipetsk
         Russia

The Arbitration Court of Lipetsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A36-3335/2006.

The Court is located at:

         The Arbitration Court of Lipetsk
         Skorokhodova Str. 2
         398019 Lipetsk
         Russia

The Debtor can be reached at:

         CJSC Nikom
         Lipetsk
         Russia


OAO LUKOIL: Bulgarian Unit Sues Petrol Holding for BGN90 Million
----------------------------------------------------------------
Lukoil Bulgaria, a unit of OAO Lukoil, has filed a claims suit
against Petrol Holding AD, with Petrol also filing a counter-
suit, both over delayed payments, published reports say.

Lukoil filed a BGN89.6-million claim against Petrol, alleging
that the Bulgarian fuel group breached a 2001 concession
agreement by deliberately delaying payments, Sofia News Weekly
reports.  Under the deal, Petrol retails liquified fuels
produced by Lukoil, with the firms splitting the profits after
the Bulgarian fuel group Petrol has deducted costs.

A Lukoil spokesman told Dnevnik that the company's willingness
to pay BGN3.5 million in court taxes shows it is serious in
pursuing the case.

Petrol also filed a BGN84-million counterclaim against Lukoil
Bulgaria, arguing that the latter had also delayed payments,
Dnevnik relates.  Petrol said it notified Lukoil on Feb. 13 that
it should make the payment within 20 business days or face
litigation.  Lukoil, however, denied Petrol's accusations.

Dnevnik relays that the firms had a conflict in 2005 when Lukoil
cut fuel supplies for Petrol over outstanding payments amounting
to BGN35 million.

                         About Lukoil

Headquartered in Moscow, Russia, OAO Lukoil (LSE: LKOD; MICEX,
RTS: LKOH) -- http://www.lukoil.com/-- explores and produces
oil & gas, petroleum products and petrochemicals, and markets
the outputs.  Most of the Company's exploration and production
activity is located in Russia, and its main resource base is in
Western Siberia.

                         *     *     *

OAO Lukoil carries Standard & Poor's BB+ long-term foreign and
local issuer credit ratings with a positive outlook.


ORSKAYA GARMENT: Creditors Must File Claims by April 17
-------------------------------------------------------
Creditors of LLC Orskaya Garment Factory (TIN 5614021629) have
until April 17 to submit proofs of claim to:

         A. Taushev, Insolvency Manager
         Gaya Str. 23A
         460000 Orenburg
         Russia

The Arbitration Court of Orenburg commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A47-6032/2006-14GK.

The Court is located at:

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

The Debtor can be reached at:

         LLC Orskaya Garment Factory
         Leninskogo Komsomola Str. 43
         Orsk
         462411 Orenburg
         Russia


OSTROGOZHSKAYA DRYING: Creditors Must File Claims by March 17
-------------------------------------------------------------
Creditors of LLC Ostrogozhskaya Drying Oil have until March 17
to submit proofs of claim to:

         E. Tsutskikh, Temporary Insolvency Manager
         Building 15
         Nizhegorodskaya Str. 632
         109029 Moscow
         Russia

The Arbitration Court of Voronezh region has commenced
bankruptcy supervision procedure on the company.  The case is
docketed under Case No. A14-15073/2006-228/16b.

The Court is located at:

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

The Debtor can be reached at:

         LLC Ostrogozhskaya Drying Oil
         Privokzalnaya Str. 2
         Ostrogozhsk
         397800 Voronezh
         Russia


SBERBANK ROSSII: Shareholders Acquire 46.96% of IPO Shares
----------------------------------------------------------
Shareholders of OAO Sberbank Rosii have acquired 46.96% new
shares from the company's initial public offering in Moscow,
Russia, RIA Novosti relates.

According to the report, Sberbank shareholders exercising pre-
emptive rights paid for 1,643,489 of the 3.5 million offered
shares at RUR89,000 apiece for a total of RUR146.3 billion.

Andrei Kazmin, Sberbank's chief executive, told RIA Novsoti that
the company would place the remaining 1.856 million shares
through open subscription from March 8 to March 21.

Mr. Kazmin added that demand for the secondary offering mostly
came from the domestic market, with 49,197 applications filed
during the placement including 262 requests from non-residents
filed through brokers.  Mr. Kazmin said the bank had received
orders for around RUR270 billion of stock.

Sberbank is Russia's largest bank, with 60.57% of its shares
controlled by the Central Bank. Sberbank's branch network
includes 17 regional banks and 832 branches.  The Central Bank
of Russia said it would cut its stake in Sberbank to 55.34%
after the additional share placement.

In a TCR-Europe report on Feb. 26, Sberbank raised around RUR230
billion following its initial public offering, having sold the
shares at RUR89,000 apiece after receiving orders for around
RUR260 billion of stock.

Sberbank commenced its initial public offering on Feb. 1 in
Moscow.  JPMorgan Chase & Co. and Credit Suisse Group managed
the IPO, which could place Sberbank's value at around US$81
billion, Bloomberg News says.

                        About Sberbank

Headquartered in Moscow, OAO Sberbank Rossii --
http://www.sbrf.ru/eng/-- provides a full range of banking
services, including commercial, investment, merchant, mortgage
and retail banking, and a complete range of travel, lending and
credit services.  The Bank operates through 17 territorial
banks, 921 divisions and 19,390 subdivisions across Russia.

                        *     *     *

As of Feb. 1, 2006, Sberbank carries Moody's Investors Service's
D financial strength rating with stable outlook.

At the same time, it also carries Fitch's C Individual Rating.


SERDOBSKIY OJSC: Asset Sale Slated for March 20
-----------------------------------------------
LLC Consulting Centre, the bidding organizer for OJSC Meat-
Poultry Factory Serdobskiy, will open a public auction for the
company's properties at 1:00 p.m. on March 20 at:

         LLC Consulting Centre
         Office 202
         Pushkina Str. 2
         Penza
         Russia

The company has set a RUR1.8 million starting price for the
auctioned assets.

Interested participants have until March 16 to deposit an amount
equivalent to 10% of the starting price to:

         OJSC Meat-Poultry Factory Serdobskiy
         Settlement Account 40702810915000000319
         Correspondent Account 3010181060000000000718
         BIK 04655718
         PRF OJSC Rosselkhozbank
         Penza
         Russia

Bidding documents must be submitted to:

         LLC Consulting Centre
         Office 202
         Pushkina Str. 2
         Penza
         Russia

The Debtor can be reached at:

         OJSC Meat-Poultry Factory Serdobskiy
         Saratovskaya Str. 117
         Serdobsk, Penza
         Russia


TAMBOV-POLYMER-MASH: Creditors Must File Claims by April 17
-----------------------------------------------------------
Creditors of CJSC Tambov-Polymer-Mash have until April 17 to
submit proofs of claim to:

         V. Kuzmin, Insolvency Manager
         Apartment 3
         Kamozina Str. 45
         241012 Bryansk
         Russia

The Arbitration Court Tambov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A64-7912/04-2.

The Debtor can be reached at:

         CJSC Tambov-Polymer-Mash
         Sovetskaya Str. 194
         392031 Tambov
         Russia


TRANSPORT BUILDER: Creditors Must File Claims by March 17
---------------------------------------------------------
Creditors of OJSC Transport Builder have until March 17 to
submit proofs of claim to:

         N. Semashko, Temporary Insolvency Manager:
         Post User Box 26
         GUPS
         Labytnangi
         692400 Yamalo-Nenetskiy
         Russia

The Arbitration Court of Yamalo-Nenetskiy commenced bankruptcy
supervision procedure on the company.  The hearing in the Court
will convene on June 1.  The case is docketed under Case No.
A81-170/2007.


The Court is located at:

         The Arbitration Court of Yamalo-Nenetskiy
         Chubynina Str. 37A
         Salekhard
         Yamalo-Nenetskiy Autonomous
         Russia

The Debtor can be reached at:

         OJSC Transport Builder
         SMI-700
         Zaozernyj
         Novyj Urengoj
         629300 Yamalo-Nenetskiy
         Russia


URAL BANK: Asset Growth Cues S&P to Raise Junk Rating to B-
-----------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term
counterparty credit rating on Russian Ural Bank for
Reconstruction and Development to 'B-' from 'CCC+'.

At the same time, the 'C' short-term counterparty credit rating
was affirmed.  The outlook is stable.  Standard & Poor's also
raised its Russia national scale rating on the bank to 'ruBBB'
from 'ruBB'.

"The upgrade is based on the bank's positive commercial
developments, good lending and asset growth in 2006, improved
financials, and willingness to reduce related-party exposure,"
said Standard & Poor's credit analyst Elena Romanova.

The ratings reflect UBRD's weak capitalization, remaining high
related-party concentrations in lending and generally high
single-party lending exposures, and still-limited franchise and
network.  These negative factors are somewhat offset by the
bank's good growth in business activities with independent
clients--especially in retail--and improved financial
performance in 2006.

"We expect UBRD's improving franchise and market position in its
home region to enable the bank to sustain adequate business
growth and improve structural weaknesses," said Ms. Romanova.

The ratings could be raised if the bank significantly improves
its capitalization; continues to strengthen its core
profitability; increases its franchise and develops an
efficient, profitable network; and further lowers exposure to
Russian Copper Co. to more benign levels.  A negative rating
action might follow a significant deterioration in the bank's
financial performance or capitalization, or an increase in risk
concentrations.


VOLGOGRAD-FISH-KOM: Court Names V. Khmelev as Insolvency Manager
----------------------------------------------------------------
The Arbitration Court of Volgograd appointed Mr. V. Khmelev as
Insolvency Manager for CJSC Company of Fish Industry Volgograd-
Fish-Kom (TIN 3445011980).  He can be reached at:

         V. Khmelev
         7th Gvardeyskaya Str. 2-215
         Volgograd
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A12-594/07-S49.

The Debtor can be reached at:

         V. Khmelev
         7th Gvardeyskaya Str. 2-215
         Volgograd
         Russia


YUKOS OIL: Russia Raids PwC Office as Part of Criminal Probe
------------------------------------------------------------
Investigators from Russia's Interior Ministry and General
Prosecutor's office searched the local branch of UK-based
PricewaterhouseCoopers for evidence in two criminal cases
against the firm, Gregory White of The Wall Street Journal
reports.

The Federal Tax Service of Russia had accused PwC, which served
as Yukos's auditor in 2002-2004, of covering up the bankrupt
company's alleged illegal financial schemes and compiling two
different audits.

PwC is also facing a tax-evasion probe in back-taxes for 2002.

According to Anatoly Medetsky and Daan van der Schriek of The
Moscow Times, PwC denied allegations that:

   -- it concealed tax evasion by Yukos in its 2002-2004 audit
      of the bankrupt firm; and

   -- it evaded paying up to RUR243 million (US$9.3 million) in
      back taxes in 2002 on its manager's orders.

After losing two appeals in civil courts related to the tax-
evasion case against PwC, the firm elected to pay about US$14
million to satisfy tax claims and penalties last year.

Under Russian law, criminal tax-evasion charges can be brought
even after a back-tax claim is paid, WSJ relates.

About 20 investigators seized company files, which could convict
PwC Russia's senior executives in relation to the tax-evasion
case against the firm.

In December 2006, the Moscow Arbitration Court accepted a case
from the FTS, which sought to invalidate a contract between
Yukos and PwC's Russian office on auditing services.  The tax
regulator demanded a US$145,000 repayment from PwC on the cost
of the contract, RIA Novosti noted.

According to RIA Novosti, the court granted FTS' request to
change the litigation claims to charge US$480,000 from PwC,
instead of the US$145,000 demand.

As previously reported in the Troubled Company Reporter-Europe,
the tax officials said PwC confirmed that Yukos's financial
operations in 2003-2004 were in full compliance with Russian
legislation, even amidst tax violations discovered in 2002, to
which Yukos has failed to remove in the subsequent two years.

The auditing firm has denied the tax regulator's accusations
asserting that the management of a company, not an auditor, was
responsible for financial decisions.

PwC argued that its report on Yukos contained an amendment
highlighting the disclosed irregularities, which the firm also
included in a written statement recommending that the company
review its operations.

                        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.


=============================
S L O V A K   R E P U B L I C
=============================


US STEEL: CEO Accepts China's Plan to Close Plants a "Good Step"
----------------------------------------------------------------
U.S. Steel Corp. CEO John Surma said that the U.S. steel
industry remains concerned about a rapid rise in imports from
China, but welcomes the Chinese government's announcement that
it will close 35 million tons of crude steel production
capacity, Doug Palmer of Reuters reports.

"That would be a very good step," Mr. Surma said, as cited by
the source.

According to the report, the steel closure targets are part of a
plan to reduce pig iron capacity at outdated facilities by 100
million tons and outdated steel capacity by 55 million tones in
the five years from 2006 and 2010.

The report said China has increased its steel production rapidly
in recent years, straining trade ties with the United States and
other steel producers as it has shifted from a net importer to a
substantial net exporter.

Reuters relates that U.S. steel producers are pushing for a
change in U.S. trade remedy laws to allow the United States to
impose countervailing duties on imports from China to offset
what they believe to be extensive government subsidies.

                          About U.S. Steel

Headquartered in Pittsburgh, Pa., United States Steel
Corporation, (NYSE: X) -- http://www.ussteel.com/--  
manufactures a wide variety of steel sheet, tubular and tin
products; coke, and taconite pellets; and has a worldwide annual
raw steel capability of 26.8 million net tons.  U. S. Steel's
domestic primary steel operations are: Gary Works in Gary, Ind.;
Great Lakes Works in Ecorse and River Rouge, Mich.; Mon Valley
Works, which includes the Edgar Thomson and Irvin plants, near
Pittsburgh and Fairless Works near Philadelphia, Pa.; Granite
City Works in Granite City, Ill.; Fairfield Works near
Birmingham, Ala.; Midwest Plant in Portage, Ind.; and East
Chicago Tin in East Chicago, Ind.  The company also operates two
seamless tubular mills, Lorain Tubular Operations in Lorain,
Ohio; and Fairfield Tubular Operations near Birmingham, Ala.

U. S. Steel produces coke at Clairton Works near Pittsburgh, at
Gary Works and Granite City Works.  On Northern Minnesota's
Mesabi Iron Range, U. S. Steel's iron ore mining and taconite
pellet operations, Minnesota Taconite (Minntac) and Keewatin
Taconite (Keetac), support the steelmaking effort, and its
subsidiary ProCoil Company provides steel distribution and
processing services.

Internationally, U.S. Steel has steelmaking subsidiaries in
Kosice, Slovakia (U.S. Steel Kosice, s.r.o.), and in Sabac and
Smederevo, Serbia (U.S. Steel Serbia, d.o.).

In addition to primary steel operations, U. S. Steel
participates in several joint ventures: USS-POSCO Industries,
Pittsburg, Ca.; PRO-TEC Coating Company, Leipsic, Ohio;
Worthington Specialty Processing, Jackson, Mich.; Double Eagle
Steel Coating Company, Dearborn, Mich.; Double G Coating
Company, Jackson, Miss.; and Acero Prime, San Luis Potosi,
Mexico.

U. S. Steel is also involved in a number of other businesses,
among them transportation (Transtar, Inc.), real estate
development, and leasing and financial services.

                           *     *     *

As reported in the Troubled Company Reporter on Mar. 1, Moody's
Investors Service upgraded United States Steel's senior
unsecured ratings to Baa3 from Ba1.  At the same time Moody's
withdrew US Steel's Ba1 corporate family rating, its Ba1
probability of default rating, and its SGL-1 speculative grade
liquidity rating.  The rating outlook is stable.

As reported in the Troubled Company Reporter on Jan. 19,
Standard & Poor's Ratings Service raised its corporate credit
rating on Pittsburgh, Pennsylvania-based United States Steel
Corp to 'BB+' from 'BB' and removed all ratings from
CreditWatch, where they had been placed with positive
implications on July 27, 2006.  At the same time, Standard &
Poor's raised its rating on the company's senior unsecured debt
to 'BB+' from 'BB'.  The outlook is stable.


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


ANIMEX JSC: Creditors' Liquidation Claims Due March 28
------------------------------------------------------
Creditors of JSC Animex have until March 28 to submit their
claims to:

         Benz Treuhand & Consulting
         Liquidator
         Lavaterstrasse 61
         8002 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Animex
         Zurich
         Switzerland


BATIGESTION LLC: Creditors' Liquidation Claims Due March 26
-----------------------------------------------------------
Creditors of LLC Batigestion have until March 26 to submit their
claims to:

         Romerstrasse 7
         2555 Brugg AG
         Switzerland

The Debtor can be reached at:

         LLC Batigestion
         Brugg AG
         Switzerland


CHEMISCHES LABORATORIUM: Liquidation Claims Due March 28
--------------------------------------------------------
Creditors of JSC Chemisches Laboratorium Dr. L. Herzfeld have
until March 28 to submit their claims to:

         Dr. Walter Stocklin and Edith Stocklin
         Liquidators
         Missionsstrasse 19
         4055 Basel BS
         Switzerland

The Debtor can be reached at:

         JSC Chemisches Laboratorium Dr. L. Herzfeld
         Basel BS
         Switzerland


CLIVIA-VERTRIEBS LLC: Creditors' Liquidation Claims Due March 26
----------------------------------------------------------------
Creditors of LLC Clivia-Vertriebs have until March 26 to submit
their claims to:

         Rudolf Herzog
         Liquidator
         Kolumbanstrasse 10a
         9008 St. Gallen
         Switzerland

The Debtor can be reached at:

         LLC Clivia-Vertriebs
         St. Gallen
         Switzerland


DECOMA JSC: Creditors' Liquidation Claims Due March 31
------------------------------------------------------
Creditors of JSC Decoma have until March 31 to submit their
claims to:

         Dr. Kurt Brunner
         Liquidators
         Schweizerhofstrasse 14
         8750 Glarus
         Switzerland

The Debtor can be reached at:

         JSC Decoma
         Glarus
         Switzerland


HANS SPECK: Creditors' Liquidation Claims Due March 28
------------------------------------------------------
Creditors of JSC Hans Speck have until March 28 to submit their
claims to:

         Hans Speck
         Liquidators
         Artherstrasse 119
         6317 Oberwil bei Zug
         Switzerland

The Debtor can be reached at:

         JSC Hans Speck
         Zug
         Switzerland


HERCULES INC: Earns US$238.7 Million in Full Year 2006
------------------------------------------------------
Hercules Inc. reported net sales of US$2.03 billion for the year
ended Dec. 31, 2006, versus net sales of US$2.05 billion for the
year ended Dec. 31, 2005.  The company reported net income of
US$238.7 million for the year ended Dec. 31, 2006, compared with
a US$41.1 million net loss in 2005.

At Dec. 31, 2006, the company's balance sheet showed US$2.8
billion in total assets, US$2.55 billion in total liabilities,
US$12.7 million in minority interests, and US$242.9 million in
stockholders' equity.  The company had a US$24.7 million
stockholders' deficit at Dec. 31, 2005.

                       Sources of Liquidity

As of Dec. 31, 2006, the company had a US$550 million Senior
Credit Facility with a syndicate of banks.  Under the Senior
Credit Facility, the company has a US$150 million revolving
credit agreement, which permits certain additional borrowings.
In addition, the company has the option to borrow until April 8,
2007, an additional US$250 million in the form of a term note
under the Senior Credit Facility.

As of Dec. 31, 2006, US$44.3 million of the US$150 million
Revolving Facility was available for use as the company had
US$105.7 million of outstanding letters of credit associated
with the Revolving Credit Facility.  In addition, the company
had US$29.3 million of foreign lines of credit available and
unused.

Approximately US$41.3 million of funds remaining in one of the
trusts established in 2004 related to the settlement with
insurers with respect to asbestos claims reverted to the company
effective Jan. 4, 2007.  Those funds are no longer restricted
and are available for general corporate purposes at the
Company's discretion.

                            Refunds

In connection with the comprehensive settlement of tax years
1993 through 2003, the Company anticipates the receipt of
refunds and interest in the range of US$230 million during 2007
with approximately US$12 million expected to be received during
the first quarter, US$147 million during the second quarter and
the remainder during the third quarter.

A full-text copy of the company's annual report is available for
free at http://ResearchArchives.com/t/s?1ad1

                       About Hercules, Inc.

Headquartered in Wilmington, Delaware, Hercules, Inc., (NYSE:
HPC) -- http://www.herc.com/-- is a global manufacturer and
marketer of specialty chemicals and related services.  Its
principal products are chemicals for the paper industry, water-
soluble polymers, and specialty resins.  The company has its
regional headquarters in China and Switzerland, and a production
facility in Brazil.

                           *     *     *

Hercules, Inc. carries Moody's Baa3 Senior Secured Debt and Bank
Loan Debt Ratings, Ba2 Long-term Corporate Family, Senior
Unsecured Debt, and Probability of Default Ratings, and B1
Junior Subordinated Debt Rating.

The company also carries Standard & Poor's BB Long-term Foreign
and Local Issuer Credit Ratings.


J. RITTMEYER: Creditors' Liquidation Claims Due March 30
--------------------------------------------------------
Creditors of LLC J. Rittmeyer-allround have until March 30 to
submit their claims to:

         Jacqueline Rittmeyer
         Liquidator
         Topferweg 2
         8307 Effretikon
         Pfaffikon ZH
         Switzerland

The Debtor can be reached at:

         LLC J. Rittmeyer-allround
         Illnau-Effretikon
         Pfaffikon ZH
         Switzerland


LAST IN SPACE: Zug Court Closes Bankruptcy Proceedings
------------------------------------------------------
The Bankruptcy Service of Zug entered Feb. 16 an order closing
the bankruptcy proceedings of LLC Last in Space.

The Debtor can be reached at:

         LLC Last in Space
         Feld
         6345 Neuheim ZG
         Switzerland

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland


P + S THOMMEN: Creditors' Liquidation Claims Due March 26
---------------------------------------------------------
Creditors of LLC P+S Thommen Consulting have until March 26 to
submit their claims to:

         Sonja Thommen-Schurch
         Liquidator
         Burenstrasse 45
         3297 Leuzigen
         Buren BE
         Switzerland

The Debtor can be reached at:

         LLC P+S Thommen Consulting
         Leuzigen
         Buren BE
         Switzerland


SENNTECH CONVERTING: Creditors' Liquidation Claims Due March 23
---------------------------------------------------------------
Creditors of LLC Senntech Converting have until March 23 to
submit their claims to:

         Thomas Hentz
         Liquidator
         Christen Rickli Partner
         Hirschgasslein 11
         4010 Basel BS
         Switzerland

The Debtor can be reached at:

         LLC Senntech Converting
         Densburen
         Aarau AG
         Switzerland


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


ARBIS LLC: Proofs of Claim Filing Deadline Set March 15
-------------------------------------------------------
Creditors of LLC Arbis (code EDRPOU 21881938) have until
March 15 to submit written proofs of claim to:

         Dmitry Selevko, Temporary Insolvency Manager
         P.O. Box 1230
         Krivoy Rog
         50027 Dnipropetrovsk
         Ukraine

The Economic Court of Dnipropetrovsk commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. B 15/234-06.

The Court is located at:

         The Economic Court of Dnipropetrovsk
         Kujbishev Str. 1a
         49600 Dnipropetrovsk
         Ukraine

The Debtor can be reached at:

         LLC Arbis
         Ordzhonikidze Str. 8
         Krivoy Rog
         Dnipropetrovsk
         Ukraine


DONETS LLC: Creditors Must File Proofs of Claim by March 15
-----------------------------------------------------------
Creditors of Agricultural LLC Donets (code EDRPOU 00705462) have
until March 15 to submit written proofs of claims to:

         Sergey Mishyn, Liquidator
         Traktorostroiteley Str. 85. ap. 312
         61123 Kharkov
         Ukraine

The Economic Court of Harkiv commenced bankruptcy proceedings
against the company on Jan. 11 after finding it insolvent.  The
case is docketed under Case No. B-31/02-06.

The Court is located at:

         The Economic Court of Kharkov
         Derzhprom 8th Entrance
         Svoboda Square 5
         61022 Kharkov
         Ukraine

The Debtor can be reached at:

         Agricultural LLC Donets
         Petrovskoe
         Balakleya District
         Kharkov
         Ukraine


PAPER TRADE: Creditors Must File Proofs of Claim by March 15
------------------------------------------------------------
Creditors of LLC Paper Trade Company (code EDRPOU 33431310) have
until March 15 to submit written proofs of claim to:

         Dmitry Shvets, Liquidator
         Kalnyshevsky Str. 10/44
         69124 Zaporozhje
         Ukraine

The Economic Court of Zaporozhje commenced bankruptcy
proceedings against the company on Feb. 5 after finding it
insolvent.  The case is docketed under Case No. 21/18/07.

The Court is located at:

         The Economic Court of Zaporozhje
         Shaumiana Str. 4
         69001 Zaporozhje
         Ukraine

The Debtor can be reached at:

         LLC Paper Trade Company
         Lobanovsky Str. 7-a
         69006 Zaporozhje
         Ukraine


PROVISION AND DELIVERY: Creditors Must File Claims by March 15
--------------------------------------------------------------
Creditors of LLC Agricultural Provision and Delivery (code
EDRPOU 30759742) have until March 15 to submit written proofs of
claims to:

         V. Kalashnikov, Liquidator
         Druzhby narodov Str. 223
         61183 Kharkov
         Ukraine

The Economic Court of Harkiv commenced bankruptcy proceedings
against the company on Jan. 24 after finding it insolvent.
The case is docketed under Case No. B-50/143-06.

The Court is located at:

         The Economic Court of Kharkov
         Derzhprom 8th Entrance
         Svoboda Square 5
         61022 Kharkov
         Ukraine

The Debtor can be reached at:

         LLC Agricultural Provision and Delivery
         A. Barbus Str. 3
         Kharkov
         Ukraine


VOSHOD LLC: Proofs of Claim Filing Deadline Set March 15
--------------------------------------------------------
Creditors of LLC Voshod (code EDRPOU 02772356) have until
March 15 to submit written proofs of claim to:

         Sergey Soldatkin, Temporary Insolvency Manager
         P.O. Box #30
         40014 Sumy
         Ukraine

The Economic Court of Sumy commenced bankruptcy supervision
procedure on the company on Jan. 9.  The case is docketed under
Case No. 8/625-06.

The Court is located at:

         The Economic Court of Sumy
         Shevchenko Avenue 18/1
         40030 Sumy
         Ukraine

The Debtor can be reached at:

         LLC Voshod
         Ulanovoe
         Gluhov District
         41400 Sumy
         Ukraine


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


ALPINE COLD: Appoints KPMG as Joint Administrators
--------------------------------------------------
Howard Smith and Brian Green of KPMG LLP were appointed joint
administrators of Alpine Cold Stores (Bridlington) Ltd. (Company
Number 4951037) on Feb. 23.

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:

         Alpine Cold Stores (Bridlington) Ltd.
         Lancaster Road
         Carnaby Industrial Estate
         Bridlington
         East Yorkshire
         DN31 2TP
         England


AP HYDRAULICS: Claims Filing Period Ends March 30
-------------------------------------------------
Creditors of AP Hydraulics Ltd. have until March 30 to send in
writing their names and addresses and the particulars of their
debts or claims, and the names and addresses of their solicitors
(if any), to:

         David Matthew Hammond
         Liquidator
         PricewaterhouseCoopers LLP
         Hill House
         Richmond Hill
         Bournemouth
         BH2 6HR
         England

The company can be reached at:

         AP Hydraulics Ltd.
         P O Box 1683
         Leamington Spa
         Warwickshire
         CV313ZU
         England
         Tel: 01926 473 737
         Fax: 01926 473 525


APW ELECTRONICS: Royal Bank Taps Kroll as Joint Receivers
---------------------------------------------------------
Royal Bank of Scotland Plc appointed Andrew John Pepper and Neil
Cooper of Kroll Ltd. joint administrative receivers of APW
Electronics Group Ltd. (Company Number 02889677) on March 1.

Kroll Limited -- http://www.krollworldwide.com/-- offers risk-
consulting services worldwide.  The firm is an operating unit of
Marsh & McLennan Companies, Inc., the global professional
services firm.  Kroll's services include corporate advisory and
restructuring, financial accounting, valuation and litigation,
electronic evidence and data recovery, business intelligence and
investigations, background screening, and security services.

The company can be reached at:

         APW Electronics Group Ltd.
         Electron Way
         Chandlers Ford
         Eastleigh
         Hampshire
         SO53 4ZR
         England
         Tel: 023 8026 6300
         Fax: 023 8026 5126


BOOKWORLD: Administrator Picks The Works as Preferred Bidder
------------------------------------------------------------
Tom MacLennan, the administrator for Bargain Books, Bookworld
and bw!, disclosed that The Works is the preferred bidder for
the retail division of David Flatman Ltd.  A separate management
buyout team is the preferred bidder for the Lomond Publishing
division.

When concluded, the deals, which are for undisclosed sums, are
expected to preserve in excess of 200 jobs, retain 27 shops and
see the creation of Lomond Publishing as an independent company.
Both deals are expected to formally complete within two to three
weeks.

The Works specializes in selling competitively-priced books, art
and craft materials and gifts, both from its network of 280
stores across the U.K. and online.  The Works is seeking to
acquire the property interests, the intellectual property, the
fixtures and fittings and goodwill and stock, and will integrate
the 27 shops into its network while also transferring around 206
employees into the company.  The administrator will close the
remaining 11 shops over a phased period while the sale is
concluded.

The management team looking to acquire Lomond Publishing will
acquire the brand, goodwill and stock of the business, which
they then plan to develop as a specialist wholesale company.
Around five staff are expected to transfer across to the new
business.

"We have long admired the business of David Flatman Ltd. and
particularly the quality of the staff in store.  The combination
of the two businesses will provide substantial benefits to the
staff, our suppliers and above all, our customers.  Following
the merger, The Works will have over 300 stores throughout the
U.K.," Tim Brookes, chairman of The Works disclosed.

"Lomond Books has been a leading wholesale company in Scotland
for over 20 years and has established an excellent range of
value for money publications.  The experienced management team
is delighted at the opportunity to build on the existing success
and continue to expand and progress the relationship with their
loyal customer base in the years to come," Trevor Maher, head of
the management buyout team commented.

"When they conclude, the proposed offers from the preferred
bidders will preserve a significant proportion of the former
business.  The deals will give continuity of employment for over
half the staff and a very positive future for the two
businesses.  We would like to thank the staff for their
commitment during a difficult period and for playing a key role
helping us to preserve more than 200 jobs," Mr. MacLennan added.

                        About The Works

The Works is a specialist retailer of value books, art and craft
and gifts.

                        About Bookworld

Headquartered in Edinburg, Scotland, Bookworld, Bargain Books
and bw! -- http://www.bbwbooks.co.uk/-- sells books from
established authors and titles at highly competitive prices.
The company was established in 1977.  It has 50 stores and
employed 397 staff.  It has a turnover of GBP30 million.

Growing competition from Internet retailers and supermarkets had
affected the company's profitability.  It called in an
administrator on Feb. 13.


BRITISH AIRWAYS: Eyes 5-6 Percent Revenue Increase in 2007-2008
---------------------------------------------------------------
At its annual Investor Day on March 7, British Airways plc
released market guidance for the financial year 2007-2008.

Revenue is forecast to increase by 5 to 6 percent based on
capacity measured in available-seat-kilometers up 1.3 percent,
traffic measured in revenue-passenger-kilometers up 2.4 percent
and yield measured in pence per RPK up 3.4 percent.

Fuel is forecast to be up by some GBP100 million for 2007-2008.
Total costs, excluding fuel are forecast to be up GBP50 million.

This will leave the company on track to achieve a 10% operating
margin in the year to March 2008.

                      About the Company

Headquartered in West Drayton, United Kingdom, British Airways
Plc -- http://www.ba.com/-- operates of international and
domestic scheduled and charter air services for the carriage of
passengers, freight and mail, and provides of ancillary
services.  The British Airways group consists of British Airways
Plc and a number of subsidiary companies including in particular
British Airways Holidays Limited and British Airways Travel
Shops Limited.  BA has offices in India and Guatemala.

                        *     *     *

British Airways' 7-1/4% senior unsubordinated notes due 2016 and
10-7/8% notes due 2008 carry Moody's Investors Service's Ba2
ratings and Standard & Poor's BB- ratings.


CAFE INTERIORS: Claims Filing Period Ends May 20
------------------------------------------------
Creditors of Cafe Interiors Ltd. (formerly Fileformat Ltd.) have
until May 20 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:

         Gordon Craig
         Cresswall Associates Ltd.
         168 Hesketh Lane
         Tarleton
         Preston
         Lancashire
         PR4 6AT
         England

Gordon Craig of Cresswall Associates Ltd. was appointed
liquidator of the company on Feb. 20 by resolutions of members
and creditors.


CALENDAR WORLD: Names Elizabeth Arakapiotis Liquidator
------------------------------------------------------
Elizabeth Arakapiotis was appointed liquidator of Calendar World
Ltd. on Feb. 26 for the creditors' voluntary winding-up
procedure.

The company can be reached at:

         Calendar World Ltd.
         19 Radnor Road
         Harrow
         Middlesex
         HA1 1RY
         England
         Tel: 020 8424 8622


CAMROSE CONSULTANTS: Appoints Mark Willis as Liquidator
-------------------------------------------------------
Mark Willis of In Time Financial Recovery Ltd. was appointed
liquidator of Camrose Consultants (Safety) Ltd. on March 2 for
the creditors' voluntary winding-up proceeding.

The company can be reached at:

         Camrose Consultants (Safety) Ltd.
         P O Box 13
         Etchingham
         East Sussex
         TN197WB
         England
         Tel: 01580 860 724
         Fax: 01580 860 824


CARRISBROOK LTD: Taps Vincent A. Simmons to Liquidate Assets
------------------------------------------------------------
Vincent A. Simmons was appointed liquidator of Carrisbrook Ltd.
(t/a Carrisbrook Drives & Patios) on Sept. 6, 2006, for the
creditors' voluntary winding-up procedure

The company can be reached at:

         Carrisbrook Ltd.
         109 Wilmslow Road
         Handforth
         Wilmslow
         Cheshire
         SK9 3ER
         England
         Tel: 01625 538 570


CLAYTIME LTD: Creditors' Meeting Slated for March 14
----------------------------------------------------
Creditors of Claytime Ltd. will meet at 10:30 a.m. on March 14
at:

         The Macdonald Dunkenhalgh Hotel
         Blackburn Road
         Clayton-le-Moors
         Lancashire
         B5 5JP
         England

Creditors who want to vote at the meeting have until noon on
March 13 to submit their proxy forms together with particulars
of their claims or of any security at:

         Unit 10
         Trident Office Park
         Trident Way
         Blackburn
         BB1 3NU
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on March 12 at:

         Unit 10
         Trident Office Park
         Trident Way
         Blackburn
         BB1 3NU
         England


COLLINS & AIKMAN: Can File JCI Agreement Under Seal
---------------------------------------------------
The Honorable Steven W. Rhodes of the U.S. Bankruptcy Corp. for
the Eastern District of Michigan approved Collins & Aikman Corp.
and its debtor-affiliates' agreement with Johnson Controls Inc.,
Bridgewater Interiors LLC, Intertec Systems LLC, and affiliates
of Johnson Controls, pursuant to Rule 9019(a) of the Federal
Rules of Bankruptcy Procedure.

Judge Rhodes also authorized the Debtors to file under seal the
exhibits - JCI Agreement and the Letter Agreements -- and any
portions of pleadings with respect to the JCI Agreement approval
request filed by any party that references the exhibits.

As reported in the TCR-Europe on Feb. 20, the significant terms
of the JCI Agreement include:

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

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

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

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

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

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

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

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

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

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

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

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

Headquartered in Troy, Michigan, Collins & Aikman Corporation --
http://www.collinsaikman.com/-- is a global leader in cockpit
modules and automotive floor and acoustic systems and is a
leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of approximately 23,000 and a network of more
than 100 technical centers, sales offices and manufacturing
sites in 17 countries throughout the world.  The Company and its
debtor-affiliates filed for chapter 11 protection on May 17,
2005 (Bankr. E.D. Mich. Case No. 05-55927).  Richard M. Cieri,
Esq., at Kirkland & Ellis LLP, represents C&A in its
restructuring.  Lazard Freres & Co., LLC, provides the Debtor
with investment banking services.  Michael S. Stammer, Esq., at
Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors Committee.  When the Debtors
filed for protection from their creditors, they listed
US$3,196,700,000 in total assets and US$2,856,600,000 in total
debts.  (Collins & Aikman Bankruptcy News, Issue No. 53;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


COLLINS & AIKMAN: Judge Rhodes Okays Macher Separation Pact
-----------------------------------------------------------
The Honorable Steven W. Rhodes of the U.S. Bankruptcy Court for
the Eastern District of Michigan approved the separation Collins
& Aikman Corp. and its debtor-affiliates' separation agreement
with Frank E. Macher.

As reported in the TCR-Europe on Feb. 9, the terms of the
agreement are:

     * Mr. Macher's employment will end effective Jan. 31,
       wherein Mr. Macher will waive any right to accrued
       but unused vacation;

     * Mr. Macher will relinquish his duties as president and
       chief executive officer as of Dec. 22, 2006;

     * Mr. Macher will be paid a lump sum severance payment of
       US$700,000;

     * through Jan. 1, 2008, Mr. Macher will not induce
       employees to leave the Company or assist in hiring any of
       the Company's employees on behalf of a third party;

     * Mr. Macher fully and forever releases, acquits and
       discharges the Company from any and all claims
       arising out of, or in any way related to his employment,
       separation and the Employment Agreement; and

     * Mr. Macher agrees to assist and cooperate with
       the  Debtors in litigation involving the company.

In addition, Collins & Aikman will pay the reasonable attorneys
fees incurred by Mr. Macher in the negotiation of the Separation
Agreement, to a maximum of US$7,500.

The Debtors, with the input of the Board of Directors, hired Mr.
Macher in July 2005 to address their operational leadership
needs in restructuring their business towards developing,
negotiating and confirming a Chapter 11 plan of reorganization.

The Debtors and Mr. Macher signed an employment agreement on
July 7, 2005.  The term of Mr. Macher's employment, as provided
in the employment agreement, runs through June 30.

Mr. Macher had been chairman of the board and chief executive
officer of Federal-Mogul Corp. during its bankruptcy
proceedings.  Previously he served as president and chief
executive officer of ITT Automotive, a global automotive parts
supplier, and as the vice president and general manager of the
Automotive Components Division of Ford Motor Co.

Headquartered in Troy, Michigan, Collins & Aikman Corporation --
http://www.collinsaikman.com/-- is a global leader in cockpit
modules and automotive floor and acoustic systems and is a
leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of around 23,000 and a network of more than 100
technical centers, sales offices and manufacturing sites in 17
countries throughout the world.  The Company and its debtor-
affiliates filed for chapter 11 protection on May 17, 2005
(Bankr. E.D. Mich. Case No. 05-55927).  Richard M. Cieri, Esq.,
at Kirkland & Ellis LLP, represents C&A in its restructuring.
Lazard Freres & Co., LLC, provides the Debtor with investment
banking services.  Michael S. Stammer, Esq., at Akin Gump
Strauss Hauer & Feld LLP, represents the Official Committee of
Unsecured Creditors Committee.  When the Debtors filed for
protection from their creditors, they listed US$3,196,700,000 in
total assets and US$2,856,600,000 in total debts.  (Collins &
Aikman Bankruptcy News, Issue No. 53; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)


CORNERSTONE TITAN: Fitch Assigns BB Rating to Class G Notes
-----------------------------------------------------------
Fitch Ratings assigned Cornerstone Titan 2007-1 p.l.c.'s
floating-rate notes due 2017 final ratings as follows:

   -- EUR661,000,000 class A1 'AAA'
   -- EUR100,000 class X 'AAA'
   -- EUR333,000,000 class A2 'AAA'
   -- EUR75,100,000 class B 'AA+'
   -- EUR44,175,000 class C 'AA'
   -- EUR97,185,000 class D 'A'
   -- EUR59,540,000 class E 'BBB'
   -- EUR33,228,000 class F 'BBB-'
   -- EUR18,448,288 class G 'BB'

The final ratings reflect the positive and negative features of
the underlying collateral and the integrity of the legal and
financial structures.  They address the timely payment of
interest on the notes and the ultimate repayment of principal by
final legal maturity in January 2017.

This transaction is a securitization of 32 commercial mortgage
loans originated by Credit Suisse International, Credit Suisse,
Capmark Asset-Backed No. 2 Limited and Capmark Bank Europe.  The
loans are secured by real estate located mainly across Germany
with the remainder in France, Poland, Switzerland, and the
Netherlands.  The largest loan accounts for 21.3% of the loan
pool and is secured by seven office buildings located in Germany
all occupied by Deutsche Telekom.  The pool also includes two
Polish loans, one secured by one mixed use and one retail
warehouse property and the other by one office property.

The loans are secured by first-ranking mortgages over 136
properties with an aggregate market value of EUR1,766.4 million,
including multifamily, hotel, mixed-use, retail, office and
light industrial assets.  The note issuance represents an
initial weighted average loan-to-value ratio of 76.3%, reducing
to a balloon weighted average LTV of 73.4%, assuming no changes
in value, prepayments or defaults occur prior to individual loan
maturities.

Interest and principal for the notes are paid quarterly in
arrears on each payment date, commencing in April 2007.
Scheduled amortization on the loans is allocated sequentially to
the note classes. Prepayments and final repayments on the loans
are allocated to the notes on a 50% sequential and 50% pro rata
basis until the pool amortizes to 50% of the original note
balance where the waterfall switches to fully sequential.  The
structure does not have a liquidity facility but benefits from
servicer advances.


CRAY VALLEY: Claims Filing Period Ends April 30
-----------------------------------------------
Creditors of Cray Valley Heat Treatment Co. Ltd. have until
April 30 send their details, in writing, of any claim against
the company to:

         Guy Charles David Harrison
         Liquidator
         Crane & Partners
         Sussex House
         8-10 Homesdale Road
         Bromley
         Kent
         BR2 9LZ
         England

Guy Charles David Harrison of Crane & Partners was appointed
liquidator of the company on Feb. 28.


CREATIVE PAVING: Appoints Robert Day as Liquidator
--------------------------------------------------
Robert Day of Robert Day and Co. Ltd. was appointed liquidator
of Creative Paving Ltd. on Feb. 28 for the creditors' voluntary
winding-up procedure.

The company can be reached at:

         Creative Paving Ltd.
         7-11 Minerva Road
         Ealing
         London
         NW106HJ
         England
         Tel: 020 8578 7346


DANTI SOFT: Creditors' Meeting Slated for March 19
--------------------------------------------------
Creditors of Danti Soft Furnishings Ltd. will meet at 10:15 a.m.
on March 19 at:

         Tomlinsons
         Business Development Centre
         Eanam Wharf
         Blackburn
         BB1 5BL
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on March 15.

Tomlinsons -- http://www.tomlinsons.co.uk/-- specializes in all
types of business recovery and insolvency procedures, as well as
offering advice to companies and individuals who believe they
may be heading towards, or are already in, financial difficulty.


DECO 14: S&P Rates EUR11.94-Mln Class G Notes at BB
---------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary
credit ratings to the EUR1.491 billion commercial mortgage-
backed floating-rate notes to be issued by DECO 14 - Pan Europe
5 B.V., a special purpose entity.

At closing, the issuer will use the proceeds of the note
issuance to purchase the following:

   -- ten loans or senior-ranking portions of whole loans,
      secured by residential and commercial properties in
      Germany;

   -- a pari passu ranking participation of 50% in a loan
      secured by a residential portfolio in Dresden.  This loan
      was originated by the London branch of Deutsche Bank AG
      and Lehman Commercial Paper Inc.  The other 50% of the
      loan was securitized in the Windermere IX CMBS S.A.
      transaction.

   -- one loan secured by an office park in Sofia, Bulgaria.  A
      note to be issued by the Italian issuer, DECO 14-Pan
      Europe 5 Italy S.r.l., which is backed by a loan secured
      by a portfolio of 14 commercial properties across Italy.

This is the fifth pan-European transaction in the DECO program
undertaken by Deutsche Bank. The structure of the transaction is
similar to that of previous transactions under the DECO conduit,
however, this is the first CMBS transaction to include a loan
secured by real estate in Bulgaria.

                          Ratings List

DECO 14-Pan Europe 5 B.V.
   EUR1.491 Billion Commercial Mortgage-Backed Floating-Rate
   Notes

                          Prelim.        Prelim.
           Class          rating         amount (Mln. EUR)
           -----          -------        -----------------
           A              AAA            1,175.00
           X(1)           AAA                0.05
           B              AA               100.00
           C              A                 65.00
           D              BBB              101.00
           E              BBB               26.00
           F              BBB-              12.00
           G              BB                11.94


DELIVERY TODAY: Hires Liquidator from Rendell Thompson
------------------------------------------------------
Robert James Thompson of Rendell Thompson was appointed
liquidator of Delivery Today Ltd. on Feb. 22 for the creditors'
voluntary winding-up procedure.

The company can be reached at:

         Delivery Today Ltd.
         Unit 3 Parkwood
         Byers Lane
         South Godstone
         Godstone
         Surrey
         RH9 8JJ
         England
         Tel: 01293 455 390


DISPLAY OPTIONS: Claims Filing Period Ends April 20
---------------------------------------------------
Creditors of Display Options Ltd. have until April 20 to send in
their full name and address and particulars of their debts or
claims, to:

         Martin Christopher Hepworth
         Liquidator
         Businesscare Solutions Ltd.
         Tong Hall
         Tong
         West Yorkshire
         BD4 0RR
         England

Martin Christopher Hepworth of Businesscare Solutions Ltd. was
appointed liquidator of the company on Feb. 28.


ENCOMPASS SOLUTIONS: Brings In Liquidator from Findlay James
------------------------------------------------------------
Alisdair J. Findlay of Findlay James was appointed liquidator of
Encompass Solutions Ltd. on Feb. 27 for the creditors' voluntary
winding-up proceeding.

The company can be reached at:

         Encompass Solutions Ltd.
         11 Showell Road
         Wolverhampton
         West Midlands
         WV109LU
         England
         Tel: 01902 427 800


FORD MOTOR: Mulls Performance Bonuses to Salaried Workers
---------------------------------------------------------
Ford Motor Co. will pay hourly and salaried workers bonuses for
2006 to keep up morale amid a difficult turnaround, Jeffrey
McCracken and Terry Kosdrosky write for the Wall Street Journal.

According to the report, Chief Executive Alan Mulally said, in
an e-mail message sent to employees in the U.S. and Canada, that
the so-called performance awards have the support of the
company's board, as well as the United Auto Workers and Canadian
Auto Workers unions.

While Ford didn't meet profit and market share goals for 2006,
it did improve its quality and cost savings, Mr. Mulally said in
the email cited by WSJ.

Hourly and lower-level salaried employees will receive a bonus
of between US$300 and US$800, while higher-level salaried
employees will receive a higher, "but still modest" award, the
Journal said citing the e-mail message.

Ford spokeswoman Marcey Evans said in the report that more than
120,000 employees will receive the performance awards.

Last week, Ford estimated US$11,182 million in total lifetime
costs for restructuring actions.

Of the total US$11,182 million of estimated costs, Ford said
that US$9,982 million has been accrued in 2006 and the balance,
which is primarily related to salaried personnel-reduction
programs, is expected to be accrued in the first quarter of
2007.

The company expects a curtailment gain for other postretirement
employee benefit obligations related to hourly personnel
separations that occur in 2007, which the company expects to
record in 2007.  Of the estimated costs, those relating to job
bank benefits and personnel-reduction programs also constitute
cash expenditure estimates.

The restructuring cost estimates relate to the automaker's
previously announced commitment to accelerate its restructuring
plan, referred to as Way Forward plan.

The "Way Forward" plan includes closing plants and laying off up
to 45,000 employees.

Ford, which incurred a US$12,613 million net loss on US$160,123
million of total sales and revenues for the year ended Dec. 31,
2006, said in a regulatory filing with the Securities and
Exchange Commission that its overall market share in the United
States has declined in each of the past five years, from 21.1%
in 2002 to 17.1% in 2006.  The decline in overall market share
primarily reflects a decline in the company's retail market
share, which excludes fleet sales, during the past five years
from 16.3% in 2002 to 11.8% in 2006, the automaker said.

Ford also reported a US$16.9 billion decrease in its
stockholders' equity at Dec. 31, 2006, which, according to the
company, primarily reflected 2006 net losses and recognition of
previously unamortized changes in the funded status of the
company's defined benefit postretirement plans as required by
the implementation of Statement of Financial Accounting
Standards No. 158, offset partially by foreign currency
translation adjustments.

                About Navistar International Corp.

Based in Warrenville, Illinois, Navistar International Corp.
(NYSE:NAV) -- http://www.nav-international.com/-- is the parent
company of Navistar Financial Corp. and International Truck and
Engine Corp.  The company produces International brand
commercial trucks, mid-range diesel engines and IC brand school
buses, Workhorse brand chassis for motor homes and step vans,
and is a private label designer and manufacturer of diesel
engines for the pickup truck, van and SUV market.  The company
also provides truck and diesel engine parts and service sold
under the International brand.  A wholly owned subsidiary offers
financing services.

                       About Ford Motor Co.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures and distributes automobiles
in 200 markets across six continents.  With more than 324,000
employees worldwide, the company's core and affiliated
automotive brands include Aston Martin, Ford, Jaguar, Land
Rover, Lincoln, Mazda, Mercury, and Volvo.  Its automotive-
related services include Ford Motor Credit Company and The Hertz
Corporation.

                          *     *     *

As reported in the Troubled Company Reporter on Dec. 12, 2006,
Standard & Poor's Ratings Services affirmed its 'B' bank loan
and '2' recovery ratings on Ford Motor Co.

As reported in the Troubled Company Reporter on Dec. 7, 2006,
Fitch Ratings downgraded Ford Motor Company's senior unsecured
ratings to 'B-/RR5' from 'B/RR4'.

As reported in the Troubled Company Reporter on Dec. 6, 2006,
Moody's Investors Service assigned a Caa1, LGD4, 62% rating to
Ford Motor Company's US$3 billion of senior convertible notes
due 2036.


HANOVER COMPRESSOR: Earns US$86.52 Million in Full Year 2006
------------------------------------------------------------
Hanover Compressor Co. reported total revenues of US$1.67
billion for the year ended Dec. 31, 2006, compared with total
revenues of US$1.37 billion for the year ended Dec. 31, 2005.

The company generated a net income of US$86.52 million for the
year 2006, versus a net loss of US$38.01 million for the
previous year.

The company's Dec. 31, 2006, balance sheet showed US$3.07
billion in total assets, US$2.04 billion in total liabilities,
and US$11.99 million in minority interests, resulting in a
US$1.01 billion total stockholders' equity.

The company's unrestricted cash and cash equivalents as of
Dec. 31, 2006, amounted to US$73.28 million, up from US$48.23
million a year ago.  Working capital decreased to US$326.56
million as of Dec. 31, 2006, from US$351.69 million as of Dec.
31, 2005.

The company had total contractual cash obligations totaling
US$2.37 billion as of Dec. 31, 2006, which consisted of US$1.37
long-term debt, US$594.01 million interests on long-term debt,
US$11.87 million minority interest obligations, US$385.27
million in purchase commitments, and US$6.37 million in
facilities and other equipment operating leases.

A full-text copy of the company's annual report is available for
free at http://ResearchArchives.com/t/s?1ad0

                 About Hanover Compressor Company

Headquartered in Houston, Texas, Hanover Compressor Company,
(NYSE: HC) -- http://www.hanover-co.com/-- rents and repairs
compressors and performs natural gas compression services for
oil and gas companies.  The company's subsidiaries also provide
service, fabrication, and equipment for oil and natural gas
processing and transportation applications.  It has locations in
India, China, Indonesia, Japan, Korea, Taiwan, the United
Kingdom, and Vietnam, among others.

                           *     *     *

As reported in the Troubled Company Reporter on Feb. 8, Standard
& Poor's Ratings Services placed the 'BB-' corporate credit
ratings on oilfield service company Hanover Compressor Co. and
its related entity Hanover Compression L.P. on CreditWatch with
positive implications.


HENRY WHITE: Brings In Joint Administrators from KPMG
-----------------------------------------------------
Paul Andrew Flint and Brian Green of KPMG LLP were appointed
joint administrators of Henry White Ltd. (Company Number
05334509) on Feb. 21.

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:

         Henry White Ltd.
         Unity House
         Fletcher Street
         Bolton
         Lancashire
         BL3 6NE
         England
         Tel: 01204 360 519
         Fax: 01204 535 959


HOPKINSON CATERING: Taps KPMG to Administer Assets
--------------------------------------------------
Allan Watson Graham and Mark Jeremy Orton of KPMG Restructuring
were appointed joint administrators of Hopkinson Catering Ltd.
(Company Number 3217619) on Feb. 27.

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:

         Hopkinson Catering Ltd.
         Rashwood Farm
         Rashwood
         Droitwich
         Worcestershire
         WR9 0BW
         England
         Tel: 01527 869 083


INTERNATIONAL PAPER: Earns US$1.05 Billion in Full Year 2006
------------------------------------------------------------
International Paper Co. reported net earnings of US$1.05 billion
for the year ended Dec. 31, 2006, compared with net earnings of
US$1.10 billion for 2005.

Net sales for 2006 were US$21.9 billion compared to net sales of
US$21.7 billion for 2005.

At Dec. 31, 2006, the company's balance sheet showed total
assets of US$24.03 billion, total liabilities of US$16.07
billion and total shareholders' equity of US$7.96 billion.

                      Beverage Packaging Sale

In 2006, the company recorded a gain on sale of forestlands of
US$4.78 billion, related to the sales of its Beverage Packaging
business to Carter Holt Harvey Limited for approximately US$500
million, subject to certain adjustments.

The sale of Beverage Packaging subsequently closed on Jan. 31,
with the sale of the remaining non-U.S. operations expected to
close later in the 2007 first quarter.

                        Lumber Mills Sale

Also during the fourth quarter, the Company entered into
separate agreements for the sale of 13 lumber mills for
approximately US$325 million, expected to close in the first
quarter of 2007, and five wood products plants for approximately
US$237 million, expected to close in the first half of 2007,
both subject to various adjustments at closing.

A full-text copy of the company's annual report is available for
free at http://ResearchArchives.com/t/s?1ad2

                   About International Paper Co.

Based in Stamford, Connecticut, International Paper Co. (NYSE:
IP) -- http://www.internationalpaper.com/-- is in the forest
products industry for more than 100 years.  The company is
currently transforming its operations to focus on its global
uncoated papers and packaging businesses, which operate and
serve customers in the US, Europe, South America, and Asia.  Its
South American operations include, among others, facilities in
Argentina, Brazil, Bolivia, and Venezuela.  These businesses are
complemented by an extensive North American merchant
distribution system.  International Paper is committed to
environmental, economic and social sustainability, and has a
long-standing policy of using no wood from endangered forests.

                           *     *     *

Moody's Investors Service assigned a Ba1 senior subordinate
rating and Ba2 Preferred Stock rating on International Paper Co.
on Dec. 5, 2005.


KALEIDOSCOPE GLASS: Calls In Liquidator from Barringtons Ltd.
-------------------------------------------------------------
Philip Barrington Wood of Barringtons Ltd. was appointed
liquidator of Kaleidoscope Glass Design Ltd. on Feb. 26 for the
creditors' voluntary winding-up procedure.

The company can be reached at:

         Kaleidoscope Glass Design Ltd.
         Unit 1a
         Westmill Street
         Stoke on Trent
         Staffordshire
         ST1 3EL
         England
         Tel: 01782 280 208


LILI 99: Creditors' Meeting Slated for March 30
-----------------------------------------------
Creditors of Lili 99 Ltd. will meet at 11:00 a.m. on March 30
at:

         Berg Kaprow Lewis LLP
         35 Ballards Lane
         London
         N3 1XW
         England

Creditors who want to vote at the meeting have until noon on
March 29 to submit their proxy forms together with particulars
of their claims or of any security at the said address.

Stewart T. Bennett of Berg Kaprow Lewis LLP will furnish
creditors with information concerning the company's affairs free
of charge as they may reasonably require.


MALTINGS GARAGE: Appoints Alan S. Bradstock to Liquidate Assets
---------------------------------------------------------------
Alan S. Bradstock of Langley Group LLP was appointed liquidator
of Maltings Garage Ltd. on Feb. 26 for the creditors' voluntary
winding-up procedure.

The company can be reached at:

         Maltings Garage Ltd.
         Halifax Road
         Hipperholme
         Halifax
         West Yorkshire
         HX3 8HQ
         England
         Tel: 01422 205 205
         Fax: 01422 200 600


MD HANEY: Creditors Confirm Liquidators' Appointment
----------------------------------------------------
Creditors of MD Haney Builders Ltd. confirmed on Feb. 27 the
company's resolutions for voluntary liquidation and the
appointment of John Russell and Andrew Philip Wood of The P&A
Partnership as liquidators.

The P&A Partnership (aka Poppleton and Appleby) --
http://www.thepandapartnership.com/-- acts for all clearing
banks and a growing number of factors and asset lenders.  Its
clients include multinational PLCs, SMEs, financial
institutions, accountants, solicitors and business advisors.

The company can be reached at:

         MD Haney Builders Ltd.
         2 Derby Road
         Alfreton
         Derbyshire
         DE557AQ
         England
         Tel: 01773 831 818


NORHAM MULTI: Creditors' Meeting Slated for March 21
----------------------------------------------------
Creditors of Norham Multi Leisure Ltd. will meet at 10:00 a.m.
on March 21 at:

         Grant Thornton House
         Melton Street
         Euston Square
         London
         NW1 2EP
         England

A creditor entitled to attend and vote at the meeting may
appoint a proxy to attend and vote in his place.  It is not
necessary for the proxy to be a creditor of the company.

Creditors have until noon on March 20 to return proxy forms at
the said address.


ODS OPTICAL: Joint Liquidators Take Over Operations
---------------------------------------------------
Geoffrey Paul Rowley and Nicholas Hugh O'Reilly were appointed
joint liquidators of Optical Disc Service Ltd. on Feb 26 for the
creditors' voluntary winding-up proceeding.

The company can be reached at:

         ODS Optical Disc Service Ltd.
         59-65 Upper Ground
         Southwark
         London
         SE1 9PQ
         England
         Tel: 020 7960 4100
         Fax: 0870 922 3988


PRIMUS TELECOM: Dec. 31 Balance Sheet Upside-Down by US$468 Mln
---------------------------------------------------------------
PRIMUS Telecommunications Group, Inc. reported its results for
the fourth quarter and year ended Dec. 31, 2006.

The company reported fourth quarter 2006 net revenue of
US$241.91 million, down from US$284.53 million in the fourth
quarter 2005.  The Company reported a net loss for the quarter
of US$2.42 million, as compared with net income of US$100,000 in
the prior quarter and a net loss of US$24.91 million in the
fourth quarter 2005.

The company had continued sequential quarterly improvement in
its operating results, which include US$10.22 million income
from operations, US$3.89 million cash provided by operating
activities, a US$10 million improvement from the prior quarter.

Full year 2006 net revenue was US$1.01 billion, down from net
revenues of US$1.17 billion in 2005, with the majority of the
decline attributable to low-margin prepaid services and
wholesale revenue.  Full year 2006 net loss declined to
US$237.95 million as compared with US$154.38 million in 2005.

Loss from operations in 2006 was US$213 million, as compared
with US$82 million in 2005, including asset impairment write-
down and loss on sale or disposal of assets charges of US$225
million in 2006 and US$13 million in 2005.

There was also year over year improvements in the company's
operating results.  Loss from operations was US$212.85 million
in 2006, as compared with a loss of US$82.17 million in 2005,
including asset impairment write-down and loss on sale or
disposal of assets charges of US$225.33 million in 2006 and
US$13.36 million in 2005.  Negative free cash flow reduced to
US$20.14 million in 2006 from US$101.54 million in 2005.

For the fourth quarter, operating activities provided net cash
of US$4 million.  Free cash flow for the fourth quarter 2006 was
negative US$5 million.

As of Dec. 31, 2006, the company's balance sheet listed total
assets of US$394.16 million, total liabilities of US$862.42
million, resulting to US$468.25 million in total stockholders'
deficit.

The company's December 31 balance sheet also showed strained
liquidity with total current assets of US$207.86 million
available to pay US$253.41 million in total current liabilities
coming due within the next 12 months.  PRIMUS had cash and cash
equivalents of US$64.31 million as of Dec. 31, 2006.

The principal amount of PRIMUS's long-term debt obligations as
of Dec. 31, 2006 was US$640 million, down from US$641 million at
Sept. 30, 2006 and up from US$635 million at Dec. 31, 2005.

"I am pleased to report that PRIMUS management met and exceeded
most of these and the other goals it set in 2006," K. Paul
Singh, chairman and chief executive officer, stated.

"We successfully turned around our United States and European
businesses in 2006 through a combination of 'right-sizing,'
shedding unprofitable business lines, and increasing marketing
investment in higher margin services," Mr. Singh added.

                  Liquidity Enhancing Initiatives

PRIMUS executed a number of liquidity-enhancing initiatives that
enabled the company to fund both its 2006 and 2007 business
plans and to meet its debt maturity obligations in February
2007.  These initiatives included these transactions:

     -- the sale of Primus India for US$13 million in net cash
        proceeds;

     -- private debt exchanges and issuances involving new
        5% Exchangeable Notes in 2006 that raised US$20 million
        in cash without materially increasing the amount of
        total debt;

     -- raising US$5 million in equity;

     -- a private sale of US$24 million principal amount of new
        Second Lien Notes for cash, and the accompanying private
        exchange of an additional US$33 million principal amount
        of Second Lien Notes for US$41 million principal amount
        of existing 12.75% Senior Notes;

     -- financing and refinancing arrangements with fiber and
        equipment vendors; and

     -- the sale of a business unit in Australia for
        approximately US$6 million in net cash proceeds.

                   Two-Year Transformation Strategy

With the substantial progress in 2005, the company is embarking
into a two-year 'Transformation Strategy' with the following key
elements:

     -- strengthen the balance sheet opportunistically through
        potential de-levering transactions and equity capital
        infusions;

     -- significantly improve the company's non-sales and
        marketing cost structure; improve coordination among
        PRIMUS business units; and maintain an aggressive cost
        management program;

     -- focus on improving sales productivity and margin
        enhancements; and

     -- opportunistically sell non-strategic assets and
        businesses and use the proceeds either to accelerate
        growth of high-margin businesses or to strengthen the
        balance sheet.

               About PRIMUS Telecommunications Group

Based in McLean, Virginia, PRIMUS Telecommunications Group,
Inc. (NASDAQ: PRTL) -- http://www.primustel.com/-- is an
integrated communications services provider of international and
domestic voice, voice-over-Internet protocol, Internet,
wireless, and data and hosting services to business and
residential retail customers and other carriers located
primarily in the U.S., Canada, Australia, the United Kingdom,
and western Europe.

PRIMUS owns and leases a network of transmission facilities,
including approximately 350 points-of-presence throughout the
world, ownership interests in undersea fiber optic cable
systems, 16 carrier-grade international gateway and domestic
switches, and a variety of operating relationships that allow it
to deliver traffic worldwide.

                           *     *     *

As reported in the Troubled Company Reporter on Dec. 12, 2006,
Moody's Investors Service downgraded Primus Telecommunications
Group, Inc.'s corporate family rating to Caa3 from Caa1.
Moody's downgraded the company's Senior Secured Term Loan dues
2011 to Caa2 and Senior Notes dues 2014 to Caa3.


PRIORY FINANCE: Creditors' Meeting Slated for March 15
------------------------------------------------------
Creditors of Priory Finance (U.K.) Ltd. will meet at 10:30 a.m.
on March 15 at:

         Taylor Rowlands
         8 High Street
         Yarm
         Stockton on Tees
         TS15 9AE
         England

Creditors who want to vote at the meeting have until noon on
March 14 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 13.


REGENT SECURITY: Names Philip John Gorman Liquidator
----------------------------------------------------
Philip John Gorman of Hazlewoods LLP was appointed liquidator of
Regent Security Solutions Ltd. on Feb. 19 for the creditors'
voluntary winding-up proceeding.

Hazlewoods -- http://www.hazlewoods.co.uk/-- offers a service
that sets it apart from other chartered accountancy firms.   It
is highly qualified and experienced staff provides the greatest
level of professionalism in all areas of business advice,
accountancy, financial planning and tax.  The firm employs 150
staff.

The company can be reached at:

         Regent Security Solutions Ltd.
         Windsor House
         Barnett Way
         Barnwood
         Gloucester
         Gloucestershire
         GL4 3RT
         England
         Tel: 01242 573 327


RILEY ELECTRICAL: Brings In Liquidators from Baker Tilly
--------------------------------------------------------
Andrew White and Susan Agnes Maund of Baker Tilly were appointed
joint liquidators of Riley Electrical Services Ltd. on Feb. 23
for the creditors' voluntary winding-up procedure.

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:

         Riley Electrical Services Ltd.
         179 Roderick Avenue North
         Peacehaven
         East Sussex
         BN108BZ
         England
         Tel: 01273 420 502


SABINA INTERNATIONAL: Creditors Confirm Liquidator's Appointment
----------------------------------------------------------------
Creditors of Sabina International Ltd. confirmed on Feb. 27 the
appointment of A. Graham of Hamilton Insolvency Practitioners
Ltd. as the company's liquidator.

The company can be reached at:

         Sabina International Ltd.
         Unit 14 Zenith Park
         Whaley Road
         Barnsley
         South Yorkshire
         S75 1HT
         England
         Tel: 01226 282 844
         Fax: 01226 700 337


STAGEIT BY PREMIER: Creditors' Meeting Slated for March 16
----------------------------------------------------------
Creditors of Stageit By Premier Ltd. will meet at 11:00 a.m. on
March 16 at:

         Rogers Evans
         20 Brunswick Place
         Southampton
         SO15 2AQ
         England

Creditors who want to vote at the meeting have until noon on
March 15 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 14.


TELECOM MAINTENANCE: Claims Filing Period Ends April 16
-------------------------------------------------------
Creditors of Telecom Maintenance (Liverpool) Ltd. have until
April 16 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:

         Martin Henry Linton
         Leigh & Co.
         Brentmead House
         Britannia Road
         London
         N12 9RU
         England

Martin Henry Linton of Leigh & Co. was appointed liquidator of
the company by a resolution of the creditors passed on Feb. 23.


TITAN EUROPE: S&P Lifts Ratings on Class F Notes to BB-
-------------------------------------------------------
Standard & Poor's Ratings Services removed from CreditWatch with
positive implications and raised its ratings on the class C, D,
and E notes, and also raised its rating on the class F notes
issued by Titan Europe 2004-1 PLC.  At the same time, it
affirmed the ratings on the class X and B notes.

The class C, D, and E notes were placed on CreditWatch positive
on Feb. 13.  The latest rating action follows a review of the
transaction based on data received from the servicer, Hatfield
Philips International Ltd., as of the January 2007 interest
payment date.

The raising of the ratings was triggered by the prepayment of
the largest loan in the transaction, the One America Square
loan.  The proceeds were allocated sequentially, as more than
50% of the transaction has prepaid since closing.  This has
resulted in improved credit enhancement and LTV ratios for the
relevant classes.

At closing in December 2004, the transaction was backed by five
loans originated by Credit Suisse and secured on commercial real
estate properties in the U.K.

In March 2006, the ratings on the class B and C notes were
raised following the prepayment of the second- and third-largest
loans in the transaction.  The transaction has paid down by
85.8% since closing, and 72.2% of the balance outstanding at the
time of the previous upgrade in March 2006 has paid down.

Following the large prepayments and given the modified pro rata
payment structure, which has changed to sequential after more
than 50% of the initial note balance has paid down, the spread
between portfolio income and transaction liabilities has
decreased to a low level.

Interest shortfalls are possible from the next IPD in April 2007
onward.  These shortfalls are only expected to affect the class
F notes, which are subject to an available funds cap.  If under
the available funds cap there is insufficient interest due for
loan prepayments, the interest is not paid but will accrue.  If,
at maturity, there is insufficient surplus to pay the accrued
interest, the accrued amount is written off.

                           Ratings List

Titan Europe 2004-1 PLC
   GBP198.1 Million Commercial Mortgage-Backed Floating-Rate
   Notes

              Class       To                  From

Ratings Removed From CreditWatch With Positive Implications And
Raised

              C           AAA                 A+/Watch Pos
              D           AA-                 BBB/Watch Pos
              E           BB                  BB-/Watch Pos

                          Rating Raised

              F           BB-                 B

                         Ratings Affirmed

              X           AAA
              B           AAA


TXU EUROPE: Bankrupt Obligors Cue Moody's to Drop All Ratings
-------------------------------------------------------------
Moody's withdrawn all ratings of TXU Europe Limited, TXU Europe
Group plc, TXU Eastern Funding Company and TXU Europe Capital I.
Moody's has withdrawn these ratings because the debt obligors
are in bankruptcy.

On Nov. 19, 2002, TXU Europe Group plc, TXU Eastern Funding
Company, and TXU Europe Limited (the later is the guarantor of
the investments of TXU Europe Capital I, a Delaware USA
Statutory Business Trust) entered into Administration, a UK
insolvency procedure.  Subsequently, these companies entered
into Company Voluntary Arrangements in early 2005 for the
purposes of realizing assets and distributing the proceeds to
creditors.

These ratings have been withdrawn:

   * TXU Europe Limited

     -- Corporate Family Rating: Caa2;
     -- Issuer Rating: Ca;
     -- GBP900-million Senior Unsecured Bank Facility: Ca; and
     -- US$150-million 9.75% Subordinated Bonds: C.

   * TXU Eastern Funding Company

     -- GBP50-million 7.25% senior unsecured bonds due
        Oct 2007: Ca;

     -- GBP500-million 6.75% senior unsecured bonds due
        May 2009: Ca; and

     -- GBP275-million 7.25% senior unsecured bonds due
        Mar 2030: Ca;

     -- GBP301-million 7.787% senior unsecured bonds due
        Nov 2035: Ca; and

     -- Senior Unsecured EMTN Program: Ca.

   * TXU Europe Group plc

     -- Issuer Rating: Caa2

   * TXU Europe Capital I:

     -- US$150-million backed Preferred Stock: C


VIBRACRAFT LTD: Names Liquidator to Wind Up Business
----------------------------------------------------
Paul James Fleming of Parkin S. Booth & Co. was appointed
liquidator of Vibracraft Ltd. on March 1 for the creditors'
voluntary winding-up proceeding.

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

The company can be reached at:

         Vibracraft Ltd.
         Unit 10
         Victoria Industrial Estate
         Victoria Street
         Leigh
         Lancashire
         WN7 5SE
         England
         Tel: 01942 679 235


* BOND PRICING: For the Week March 5 to March 9, 2007
-----------------------------------------------------

Issuer                    Coupon   Maturity   Currency   Price
------                    ------   --------   --------   -----

AUSTRIA
-------
Kommunal Kredit
  Austria AG              0.500    03/15/19     CDN      64.90
                          0.250    10/14/26     CDN      37.78
Republic of Austria       7.000    08/04/25     EUR      70.78
                          5.000    10/10/25     EUR      69.41

DENMARK
-------
Kommunekredit             0.500    05/11/29     CDN      41.74

FINLAND
-------
Muni Finance PLC          0.250    06/28/40     CDN      19.58
                          0.500    09/24/20     CDN      59.92
                          1.000    11/21/16     NZD      59.82
                          0.500    04/26/13     AUD      71.07
                          1.000    03/19/13     AUD      73.92

FRANCE
------
Accor S.A.                1.750    01/01/08     EUR      67.61
Alcatel S.A.              4.750    01/01/11     EUR      16.90
Altran Technologies S.A.  3.750    01/01/09     EUR      12.32
Ausy                      4.000    03/15/10     EUR      14.40
AXA S.A.                  6.000    01/29/49     EUR      70.70
BNP Paribas               0.250    12/20/14     US$      68.82
CAP Gemini S.A.           2.500    01/01/10     EUR      57.23
                          1.000    01/01/12     EUR      54.90
Club Mediterranee S.A.    3.000    11/01/08     EUR      65.74
                          4.375    11/01/10     EUR      49.84
Elior S.A.                1.000    06/08/07     EUR      19.88
Havas S.A.                4.000    01/01/09     EUR      10.72
Infogrames
   Entertainment S.A.     4.000    04/01/09     EUR       6.57
                          1.500    07/01/11     EUR      23.49
Ingenico                  2.750    01/01/12     EUR      19.02
LVL Medical Group         2.500    10/01/10     EUR      45.50
Maurel & Prom             3.500    01/01/10     EUR      22.31
Publicis Group            0.750    07/17/08     EUR      36.12
                          1.000    01/18/18     EUR      44.24
Rallye                    3.750    01/01/08     EUR      49.11
Scor S.A.                 4.125    01/01/10     EUR       2.35
Soc Air France            2.750    04/01/20     EUR      34.74
Soitec                    4.625    12/20/09     EUR      19.47
Solving Int'l S.A.        5.500    01/01/12     EUR      10.25
Thomson (EX-TMM)          1.000    01/01/08     EUR      39.30
Valeo                     2.375    01/01/11     EUR      47.83
Vivendi Universal S.A.    1.750    10/30/08     EUR      32.30
Wendel Invest S.A.        2.000    06/19/09     EUR      52.52

GERMANY
-------
Allgemeine
   HypothekenBank
   Rheinboden AG          7.000    12/31/10     EUR      35.00
                          7.300    12/31/10     EUR      35.00
                          7.250    12/31/11     EUR      66.00
                          7.250    12/31/10     DEM      45.00
                          5.125    12/31/10     DEM      45.00
Commerzbank AG           11.500    04/20/07     EUR      74.92
Deutsche Bank AG         19.000    05/08/07     EUR      34.21
                          7.000    10/13/35     EUR      69.48
KfW Bankengruppe          0.500    10/30/13     AUD      69.27
                          0.500    12/19/17     EUR      69.41
                          7.500    07/29/20     EUR      74.95
                          7.000    07/21/25     EUR      72.00
                          7.000    09/01/25     EUR      73.63
                          8.000    08/10/30     EUR      70.52
                          8.000    10/17/35     EUR      49.00
Landeskreditbank Baden-
   Wuerttemberg Foerderbk 0.500    05/10/27     CDN      44.90
Metallbank GmbH           8.000    09/30/08     DEM       0.25
Schefenacker AG           9.500    02/11/14     EUR       6.25

ICELAND
-------
Kaupthing Bank            6.500    02/03/45     EUR      71.42

IRELAND
-------
Depfa ACS Bank            0.500    03/03/25     CDN      49.28
                          0.250    07/08/33     CDN      26.61
Irish Perm Plc            6.125    02/15/35     EUR      70.04
Magnolia Finance IV Plc   1.050    12/20/45     US$      26.70

LUXEMBOURG
----------
Fortis Luxembourg
   Finance S.A.          10.000    04/07/16     TRY      74.40
Teksid Aluminum S.A.     12.375    07/15/11     EUR      60.50


NETHERLANDS
-----------
ABN Amro Bank N.V.        6.250    06/29/35     EUR      75.00
BK Ned Gemeenten          0.500    06/27/18     CDN      64.23
                          0.500    02/24/25     CDN      49.32
EM.TV Finance B.V.        5.250    05/08/13     EUR       6.13
Gerling Global
   Rentefonds             6.625    08/16/21     EUR      60.38
Lehman Bros TSY B.V.      8.250    03/16/35     EUR      71.79
                          7.250    10/05/35     EUR      72.88
Ned Waterschapbk          6.500    08/15/35     EUR      71.68
                          6.000    06/30/45     EUR      72.77
Nib Capital Bank N.V.     7.000    02/21/40     EUR      63.73
Parmalat Finance B.V.     5.500    03/30/09     EUR      27.98
Rabobank Groep N.V.       6.000    02/22/35     EUR      74.44
                          8.000    02/23/35     EUR      65.68
                          7.000    02/28/35     EUR      74.44
                          7.000    03/23/35     EUR      72.10

NORWAY
------
Kommunalbanken A.S.       0.500    02/07/13     AUD      70.96

SWEDEN
------
AB Svensk Export          0.500    03/27/13     AUD      71.29

UNITED KINGDOM
--------------
Anglian Water
   Finance Plc            1.678    07/03/56     GBP      37.56
                          2.400    04/20/35     GBP      58.45
National Grid Gas Plc     1.771    03/30/37     GBP      51.37
                          2.228    06/28/35     GBP      57.92
                          1.754    10/17/36     GBP      50.40
Royal BK Scotland Plc     7.000    02/15/45     US$      72.37
                          7.000    06/29/30     EUR      69.12
                          7.000    06/09/25     EUR      72.80
                          0.250    03/27/14     US$      72.61
                          6.500    02/23/45     EUR      73.15
RSL Communications Plc   10.125    03/01/08     US$       7.00
UBS AG London             4.250    08/07/07     EUR       5.75
Wessex Water Finance Plc  1.369    07/31/57     GBP      34.40

                           *********

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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