TCREUR_Public/070314.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

             Wednesday, March 14, 2007, Vol. 8, No. 52

                            Headlines


A U S T R I A

ALLGETAX LLC: Claims Registration Period Ends April 9
BPC BEST: Wels Court Orders Business Shutdown
CHRISTINA TINTEANU: Claims Registration Period Ends April 22
G.H.S. LLC: Claims Registration Period Ends April 10
MATRIX LLC: Vienna Court Orders Business Closure

WET SYSTEME: Linz Court Orders Business Shutdown
ZAPF-SYSTEM: Feldkirch Court Orders Business Closure


B E L G I U M

CHIQUITA BRANDS: Amends Credit Pact with Operating Unit
CHIQUITA BRANDS: Lets Retailers Sell Single Banana for 75 Cents


F I N L A N D

M-REAL OYJ: Order Influx Spurs Firm to Cancel Mill Closure
M-REAL OYJ: Hikes Prices for Office Paper Products
METSO OYJ: Supplies EUR8-Mln Lime Calcining Plant to Graymont


F R A N C E

ALCATEL-LUCENT: Inks Submarine Cable Network Deal with EASSy
DELPHI CORP: Plan Investors Extend Termination Deadline
DELPHI CORP: Seeks Approval of Valeo/Metcalf Transaction
DELPHI CORP: InPlay Sells US$7.5-Million Settlement Claim


G E R M A N Y

AKUNA GESELLSCHAFT: Claims Registration Period Ends April 13
ALBERT LEYSER: Claims Registration Period Ends May 2
ART OF SERVICE: Claims Registration Period Ends April 12
AUSBAU GMBH: Claims Registration Ends April 24
BAUDI VERWALTUNGS: Creditors' Meeting Slated for April 18

BEST BRAUN: Creditors' Meeting Slated for April 19
BRUENING- BAU: Claims Registration Period Ends March 31
DIALOG MARKETING: Claims Registration Period Ends April 10
DIETER LANGE: Claims Registration Period Ends April 10
F + S EDELSTAHLSCHMIEDE: Claims Registration Period Ends April 2

GETAN DACH-AUSBAU: Creditors' Meeting Slated for May 3
GIS GERUESTBAU: Creditors' Meeting Slated for April 12
HERMANN SCHWAAK: Claims Registration Ends April 2
HERMANN THIELE: Claims Registration Ends April 25
HIS KORROSIONS: Creditors' Meeting Slated for April 12

HOLZWICHTEL GMBH: Claims Registration Period Ends March 30
IBS BETON: Claims Registration Ends April 3
KM BAUPLAN: Claims Registration Period Ends April 2
KORSING-KUECHEN GMBH: Claims Registration Ends May 29
KRAL-SAN GMBH: Claims Registration Ends April 9

KYBERMED GESELLSCHAFT: Claims Registration Period Ends April 5
LIEBEVOLL ALTSTADT: Claims Registration Period Ends April 3
LOOS SANITARTECHNIK: Claims Registration Ends March 27
MERKUR GMBH: Claims Registration Ends April 10

MTW NETWORK: Claims Registration Ends April 16
NCK KUNSTSTOFFTECHNIK: Creditors Must Register Claims by April 2
NORDSEE-KURBADER: Creditors' Meeting Slated for March 27
NOVEMBER AG: Creditors Approve Insolvency Plans
ONE WORLD: Creditors Must Register Claims by March 29

P & M COMMUNICATION: Creditors Meeting Slated for April 27
PLATTEN-KOENIG: Creditors Must Register Claims by April 27
RAMBUS INC: Filing Delay Prompts Second NASDAQ Delisting Notice
S U. W VERWALTUNGS: Claims Registration April 12
SANITATSHAUS AM ROSENGARTEN: Claims Registration Ends April 20

SCHULDNERIN BACKEREI: Claims Registration Ends April 30
SIKKES FORDERTECHNIK: Claims Registration Ends April 5
SOZIALSTATION SUEDERELBE: Claims Registration Ends April 21
STICKENS TRANSPORTE: Claims Registration Ends April 23
TAMTAI HEUBERG: Claims Registration Period Ends April 17

TEGEL GMBH: Creditors' Meeting Slated for April 18
TOWER AUTOMOTIVE: Posts US$65-Mln Net Loss in Qtr Ended Sept. 30
TOWER AUTOMOTIVE: Plan-Filing Period Extended to March 21
U. H. TANKSCHUTZ: Claims Registration Period Ends May 7
WEHRETAL HAUSTECHNIK: Claims Registration Period Ends April 10

WULFERT GMBH: Claims Registration Period Ends April 30


H U N G A R Y

AES CORP: Reaches Out-of-Court Settlement with Dominican Gov't


I R E L A N D

ARDAGH GLASS: Moody's May Cut Low-B & Junk Ratings After Review


I T A L Y

ALITALIA SPA: Board Opts to Sell Casale Somaini Complex


K A Z A K H S T A N

AGROSPETSSTROY & K: Creditors Must File Claims by April 13
AMM-INTERNATIONAL LLP: Creditors' Claims Due April 13
AZAT LLP: Proof of Claim Deadline Slated for April 13
BLACK LLP: Claims Registration Ends April 20
COMPANY GRAND: Claims Filing Period Ends April 13

JSC-INTERFRAHT LLP: Creditors Must File Claims by April 20
KUR-MASH LLP: Creditors' Claims Due April 20
OPINN TEX: Proof of Claim Deadline Slated for April 6
TERMINAL-77 LLP: Claims Registration Ends April 13
USTEKO KS: Claims Filing Period Ends April 6


K Y R G Y Z S T A N

KUTMAN-TOUR LLC: Creditors Must File Claims by April 20
VERTON LLC: Claims Filing Period Ends April 20


L U X E M B O U R G

ABSOLUT FINANCE: Fitch Puts B/RR4 Rating to Upcoming Bond Issue


N E T H E R L A N D S

ABN AMRO: Moody's Lifts Rating to Ba1 on iBoxx 50 Notes
CNH GLOBAL: Moody's Affirms Ba3 Rating on Improved Operation
GROSVENOR PLACE: Moody's Assigns Ba3 Ratings on EUR18-Mln Notes


R U S S I A

ABSOLUT BANK: Fitch Affirms B IDR on Growth & Expansion Risks
AGRYZSKAYA MTS: Tatarstan Bankruptcy Hearing Slated for July 19
BAREN-GROUP LLC: Bankruptcy Hearing Slated for April 17
DIARY KOVALEVSKIY: Creditors Must File Claims by April 17
EUROCHEM MINERAL: To Issue US$300-Mln Bonds to Fund Expansion

FINANCIAL COMPANY: Court Names M. Kuvshinova to Manage Assets
KARAKULSKOYE CJSC: Creditors Must File Claims by April 17
KORKINSKOYE AUTO-TRANSPORT: Bankruptcy Hearing Slated for May 31
KUDYMKARSKIY REPAIR-MECHANICAL: Claims Filing Due by April 17
KUBANSKAYA OJSC: Creditors Must File Claims by April 17

KURNOSOVSKOYE CJSC: Omsk Court Starts Bankruptcy Supervision
LUKOIL OAO: Damaged Refinery Unit Back to Full Capacity by May 1
OMSK-TYRE-KHABAROVSK: Court Starts Bankruptcy Supervision
OMSK-WOOD-PROM OJSC: Creditors Must File Claims by April 17
ORENBURG-AUTO-TRANS: Creditors Must File Claims by April 17

PARUSNOVSKIY WOODWORKING: Court Names Y. Sednev to Manage Assets
SERVICE-SEVER-TRANS: Creditors Must File Claims by April 17
STROY-MONTAZH CJSC: Court Names M. Kuvshinova to Manage Assets
USEC INC: Earns US$106.2 Million in Full Year 2006
VIMPEL-COMMUNICATIONS: Altimo Telecoms Hikes Stake to 38.4%

VNESTORGBANK JSC: Partners with Banco de la Nacion Argentina
YUKOS OIL: More Asset Auctions to Be Announced This Week


S P A I N

BANKINTER 14: Moody's Junks EUR14.2-Million Series E Notes


S W I T Z E R L A N D

AFRICAN-EXPRESS LLC: Creditors' Liquidation Claims Due July 1
APOLLO DESIGN: Creditors' Liquidation Claims Due March 30
AQUATRADE LLC: Creditors' Liquidation Claims Due April 1
BIB BURO: Creditors' Liquidation Claims Due May 2
BOOST PRODUCTIONS: Creditors' Liquidation Claims Due March 20

BRUNELLA JSC: Creditors' Liquidation Claims Due March 29
CARDOC LLC: Creditors' Liquidation Claims Due April 15
DENA JSC: Appenzell Court Starts Bankruptcy Proceedings
DIADOM LLC: Creditors' Liquidation Claims Due March 15
DUK-HOLZ LLC: Creditors' Liquidation Claims Due April 2

FOTOSTUDIO CLOSE-UP: Creditors' Liquidation Claims Due March 15
LANDGASTHOF KREUZ: Creditors' Liquidation Claims Due April 19


T U R K E Y

ALTERNATIFBANK: Strong Support Cues Fitch to Lift IDR to BB-


U K R A I N E

ENERGY REPAIR: Creditors Must File Proofs of Claim by March 16
KUTY WOOD: Creditors Must File Proofs of Claim by March 16
MIHAYLOVSKOE MANUFACTURE: Claims Filing Deadline Set March 16
RAYGOROD LLC: Proofs of Claim Filing Deadline Set March 16
TUROVSKOE LLC: Creditors Must File Proofs of Claim by March 16

ZLAGODA LLC Creditors Must File Proofs of Claim by March 16


U N I T E D   K I N G D O M

ALLIANCE PHARMA: Dec. 31 Balance Sheet Upside Down by US$11.3MM
AMR CORP: Dec. 31 Balance Sheet Upside-Down by US$606 Million
ANIPOINT LTD: Brings In Deloitte & Touche to Administer Assets
ANNO DOMINI: Appoints Joint Administrators from Vantis
APPLE TEXTILES: Claims Filing Period Ends March 27

ARCSTREAM AV: Claims Filing Period Ends June 2
BISCIT INTERNET: Appoints Administrator from Piper Thompson
BS AUTO: Calls In Liquidators from Mazars LLP
BUSINESS 550: Names Liquidators to Wind Up Business
CAPRICORN SOFTWARE: Creditors Confirm Voluntary Liquidation

CHESHIRE FOODS: Taps Begbies Traynor to Administer Assets
COLLINS & AIKMAN: Files Litigation Trust Allocation Under Plan
COLLINS & AIKMAN: Parties Oppose Appointment of Examiner
CORUS GROUP: LSE Admits 49,000,000 Ordinary Shares for Trading
DIGITAL UNIVERSITY: Hires Liquidators from Begbies Traynor

EMI GROUP: Warner Music May Attempt Fresh Takeover Offer
FINLANDIA HOMES: Creditors' Meeting Slated for March 21
FORD MOTOR: Aston Martin CEO Vows to Make it World's Number One
GLEN SERVICE: Appoints C. B. Barrett as Liquidator
GREENHILL FURNITURE: Creditors Confirm Liquidators' Appointment

HARVEST CLO: S&P Rates EUR26-Million Class E Notes at BB
IBP LTD: Appoints Joint Administrators from Deloitte & Touche
ILFORD PRINT: Names Richard Andrew Segal Liquidator
INTERNATIONAL BUILDING: Taps Deloitte & Touch as Administrators
JTA PALLET: Creditors' Meeting Slated for March 21

KEW LAUNDRY: Claims Filing Period Ends April 10
LADBROKES PLC: B. G. Wallace Holds 38,302 Ordinary Shares
NEXUS SOFTWARE: Appoints Paul Appleton as Liquidator
NORDIC ARCHITECTURAL: Taps David Field to Liquidate Assets
NRG EVENTS: Claims Filing Period Ends May 27

NRL SOLUTIONS: Hires Richard Paul Rendle as Liquidator
ON THE DOT: Creditors' Meeting Slated for March 26
PEMBROKESHIRE SKILLS: Hires Gary Stones to Liquidate Assets
PHYSICAL EVALUATION: N. A. Bennett Leads Liquidation Procedure
POLAR PRODUCTIONS: Taps Greg Whitehead to Liquidate Assets

REFCO INC: Crisis Managers Want US$7.4 Mln in Success Fees Paid
REFCO INC: Administrators Want Until Apr. 30 to Object to Claims
REGENCY EMPLOYMENT: Brings In Liquidators from Harrisons
SAKOONI SWEETS: Appoints I. D. Holland to Liquidate Assets
SAVAGE SHELVING: Taps Liquidators from Deloitte & Touche

SEA CONTAINERS: Jan. 31 Balance Sheet Upside-Down by US$166 Mln
SOLENT INSTALLATIONS: Joint Liquidators Take Over Operations
SPAGHETTI FOREVER: Creditors' Meeting Slated for March 19
STANTON JOINERY: Creditors Confirm Liquidators' Appointment
STREAMLINE TRAILERS: Taps Liquidators from Abbot Fielding

TEESIDE GAS: Creditors Set March 30 to Vote on Scheme
UNIVERSITY MEDIA: Asher Miller Leads Liquidation Procedure
WARNER MUSIC: Prepares Fresh Takeover Approach for EMI
WESTMORELAND TRUCK: Joint Liquidators Take Over Operations
WIRELESS HOMES: Creditors Ratify Voluntary Liquidation

                            *********


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


ALLGETAX LLC: Claims Registration Period Ends April 9
-----------------------------------------------------
Creditors owed money by LLC Allgetax (FN 108252w) have until
April 9 to file written proofs of claim to court-appointed
estate administrator Robert Klein at:

         Dr. Robert Klein
         c/o Dr. Thomas Deschka
         Spiegelgasse 10
         1010 Vienna
         Austria
         Tel: 513-99-39
         Fax: 513 99 39-30
         E-mail: klein@lawcenter.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:15 a.m. on April 23 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1705
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Feb. 22 (Bankr. Case No. 3 S 29/07w).  Thomas Deschka
represents Dr. Klein in the bankruptcy proceedings.


BPC BEST: Wels Court Orders Business Shutdown
---------------------------------------------
The Land Court of Wels entered Feb. 21 an order shutting down
the business of LLC bpc best presented.com (FN 204552m).

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

The estate administrator can be reached at:

         Mag. Gerhard Hoyer
         Rablstrasse 32
         4600 Wels
         Austria
         Tel: 07242/46316
         Fax: 07242/53359
         E-mail: gerhard.hoyer@ra-hoyer.at  

Headquartered in Wels, Austria, the Debtor declared bankruptcy
on Feb. 16 (Bankr. Case No. 20 S 23/07v).  


CHRISTINA TINTEANU: Claims Registration Period Ends April 22
------------------------------------------------------------
Creditors owed money by KEG Christina Tinteanu (FN 248971i) have
until April 22 to file written proofs of claim to court-
appointed estate administrator Christian Adam at:

         Dr. Christian Adam
         Sigmund Haffner-Gasse 3
         5020 Salzburg
         Austria
         Tel: 0662-841222-0
         Fax: 0662-841222-6
         E-mail: info@ra-adam.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 8:30 a.m. on May 4 for the examination
of claims.

The meeting of creditors will be held at:

         The Land Court of Salzburg
         Hall 256
         Second Floor
         Salzburg, Austria

Headquartered in Salzburg, Austria, the Debtor declared
bankruptcy on Feb. 22 (Bankr. Case No. 44 S 10/07f).  


G.H.S. LLC: Claims Registration Period Ends April 10
----------------------------------------------------
Creditors owed money by LLC G.H.S. (FN 272145p) have until
April 10 to file written proofs of claim to court-appointed
estate administrator Horst Winkelmayr at:

         Mag. Horst Winkelmayr
         c/o Dr. Carl Knittl
         Porzellangasse 22A/1/7
         1090 Vienna
         Austria
         Tel: 532 47 77
         Fax: 532 47 77 50
         E-mail: rae@kniwi.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on April 24 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. 22 (Bankr. Case No. 4 S 20/07d).  Carl Knittl represents
Mag. Winkelmayr in the bankruptcy proceedings.


MATRIX LLC: Vienna Court Orders Business Closure
------------------------------------------------
The Trade Court of Vienna entered Feb. 21 an order closing the
business of LLC Matrix (FN 265531m).

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

The estate administrator can be reached at:

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

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


WET SYSTEME: Linz Court Orders Business Shutdown
------------------------------------------------
The Land Court of Linz entered Feb. 22 an order shutting down
the business of LLC Wet Systeme (FN 280093b).

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

The estate administrator can be reached at:

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

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


ZAPF-SYSTEM: Feldkirch Court Orders Business Closure
----------------------------------------------------
The Land Court of Feldkirch entered Feb. 21 an order closing the
business of LLC zapf-system (FN 220933b).

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

The estate administrator can be reached at:

         Mag. Matthias Kucera
         Hofsteigstrasse 89
         6971 Hard
         Austria
         Tel: 05574/76655
         Fax: 05574/76655-6
         E-mail: rechtsanwalt@kucera.at

Headquartered in Hoerbranz, Austria, the Debtor declared
bankruptcy on Feb. 16 (Bankr. Case No. 14 S 5/07h).


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


CHIQUITA BRANDS: Amends Credit Pact with Operating Unit
-------------------------------------------------------
Chiquita Brands International Inc. and its operating subsidiary,
Chiquita Brands L.L.C., entered into an amendment effective
March 7, 2007, of their credit agreement dated as of
June 28, 2005, with a syndicate of banks, financial institutions
and other institutional lenders.

This Amendment addresses the treatment under the Credit
Agreement of a US$25 million charge for the potential settlement
of a contingent liability related to the previously announced
U.S. Department of Justice investigation of the company in
connection with payments made by its former Colombian
subsidiary.  Even without the Amendment, the company was in
compliance with the financial covenants under the Credit
Agreement at Dec. 31, 2006.  The Amendment, which makes certain
adjustments in the calculation of financial covenants relating
to the charge and certain legal fees and expenses, affords the
Company greater flexibility to remain in compliance with the
financial covenants under the Credit Agreement in future
periods.

From time to time, some of the lenders and their affiliates have
provided, and may in the future provide, investment banking and
commercial banking services and general financing services to
the Company for which they have in the past received, and may in
the future receive, customary fees.

                    About Chiquita Brands

Cincinnati, Ohio- based Chiquita Brands International, Inc.
(NYSE: CQB) -- http://www.chiquita.com/-- operates as an   
international marketer and distributor of bananas and other
fresh produce sold under the Chiquita and other brand names in
over 60 countries including including Panama, Philippines,
Australia, Belgium, Germany, among others.  It also distributes
and markets fresh-cut fruit and other branded, value-added fruit
products.

                        *     *     *

Moody's Investors Service downgraded the ratings for Chiquita
Brands L.L.C., as well as for its parent Chiquita Brands
International, Inc. Moody's said the outlook on all ratings is
stable.

Standard & Poor's Ratings Services also lowered its ratings on
Cincinnati, Ohio-based Chiquita Brands International Inc.,
including its corporate credit rating, from 'B+' to 'B'.


CHIQUITA BRANDS: Lets Retailers Sell Single Banana for 75 Cents
---------------------------------------------------------------
Chiquita Brands International has allowed retailers to sell
single "Chiquita to Go" bananas for 75 cents each, Boston.com
reports.

Boston.com relates that Chiquita Brands' bananas cost 69 cents
per pound in the grocery store.  There are usually about two
bananas per pound.

However, Chiquita International believes that it could increase
profits if people could buy a single banana off the shelf.  
Research conducted for the firm in 2005 revealed that 42% of
people would eat more bananas if they were available in more
locations, Boston.com notes.

Chiquita Brands spokesperson Mike Mitchell commented to
Boston.com, "This allows us to meet consumer demand for eating
more bananas.  And it's great for Chiquita because we can charge
a premium price."

The move is part of Chiquita Brands' plan to use convenience
stores, coffee shops, drug stores, and other outlets to boost
revenue in the North American market, where sales increased 5%
to 2.2 billion pounds of bananas since 2001, compared to the 32%
boost on international sales that resulted to 3.4 billion pounds
over the same period, Boston.com states.

                    About Chiquita Brands

Cincinnati, Ohio- based Chiquita Brands International, Inc.
(NYSE: CQB) -- http://www.chiquita.com/-- operates as an  
international marketer and distributor of bananas and other
fresh produce sold under the Chiquita and other brand names in
over 60 countries including including Panama, Philippines,
Australia, Belgium, Germany, among others.  It also distributes
and markets fresh-cut fruit and other branded, value-added fruit
products.

                        *     *     *

Moody's Investors Service downgraded the ratings for Chiquita
Brands L.L.C., as well as for its parent Chiquita Brands
International, Inc.  Moody's said the outlook on all ratings is
stable.

Standard & Poor's Ratings Services also lowered its ratings on
Cincinnati, Ohio-based Chiquita Brands International Inc.,
including its corporate credit rating, from 'B+' to 'B'.


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


M-REAL OYJ: Order Influx Spurs Firm to Cancel Mill Closure
----------------------------------------------------------
M-real Oyj abandoned plans to temporarily close its Kangas mill
following a rise in demand for coated fine paper used in
magazines, Bloomberg News reports.

M-real was to close the site for four ten-day periods because of
falling demand, Bloomberg News relates.  The company, however,
cancelled the first of the closures after receiving enough
orders to continue production at the site, Anne-Mari Achren, M-
real spokeswoman, said.

Magazine paper manufacturers in Europe has been closing shops
and reducing workforce due to overcapacity, which caused paper
prices to crash over the last five years, Bloomberg News relays.  
M-real and rivals Holmen AB, Norske Skogindustrier ASA, and
Sappi Ltd. recently announced a price hike for its products.

                          About M-real

Headquartered in Espoo, Finland, M-real Oyj --
http://www.m-real.com/-- produces and distributes coated and  
uncoated fine papers for printing and packaging industries.

                        *     *     *

In a TCR-Europe report on March 13, Moody's Investors Service
lowered M-real Oyj's Corporate Family Rating to B3 from B2 and
also changed the senior unsecured debt ratings of M-real Oyj in
addition to the senior unsecured guaranteed MTN program rating
of its majority-owned subsidiary, Metsa Group Financial Services
Oy, to B3 from B2.  The outlook for the ratings has been changed
to stable from negative.

As of Feb. 8, M-real Oyj carries Standard & Poor's B+ Long-Term
Issuer Credit Rating and B Short-Term Issuer Credit Ratings with
Negative Outlook.


M-REAL OYJ: Hikes Prices for Office Paper Products
--------------------------------------------------
M-real Office Papers Business, a division of M-real Oyj,
disclosed a price increase effective from April 1, 2007, in all
of its regional markets.

The increase will be between 5% to 8%, depending on the grade,
and will be applied to all office paper grades in cut-size and
reels.

The main reason behind the price increase is the urgent need to
restore at least a sustainable margin on office papers products.  
M-real, and the industry in general, has experienced a prolonged
period of low prices and increasing raw material and energy
costs.

However, due to the increasing demand and a tightening of
supply, M-real now has the opportunity to recover some much
needed margin and redress the balance between prices and costs.

"We are experiencing strong demand for our brands and this price
increase will help address the unsustainable margins that have
resulted from a long period of low prices in the office papers
market," Simon Guffogg, Marketing Director of M-real Office
Papers, said.

                          About M-real

Headquartered in Espoo, Finland, M-real Oyj --
http://www.m-real.com/-- produces and distributes coated and  
uncoated fine papers for printing and packaging industries.

                        *     *     *

In a TCR-Europe report on March 13, Moody's Investors Service
lowered M-real Oyj's Corporate Family  Rating to B3 from B2 and
also changed the senior unsecured debt ratings of M-real Oyj in
addition to the senior unsecured guaranteed MTN program rating
of its majority-owned subsidiary, Metsa Group Financial Services
Oy, to B3 from B2.  The outlook for the ratings has been changed
to stable from negative.

As of Feb. 8, M-real Oyj carries Standard & Poor's B+ Long-Term
Issuer Credit Rating and B Short-Term Issuer Credit Ratings with
Negative Outlook.


METSO OYJ: Supplies EUR8-Mln Lime Calcining Plant to Graymont
-------------------------------------------------------------
Metso Minerals, a unit of Metso Oyj, will supply a lime
calcining plant to Graymont for its Cricket Mountain lime plant
in Utah, U.S.A.

The delivery will be completed by the end of this year.  The
value of the order is approximately EUR8 million.  The order
comprises a lime calcining plant with a Low Pressure Drop (LPD)
preheater system as well as erection and commissioning services.

When the delivery is complete, Cricket Mountain lime plant's
production of high quality quicklime will increase from current
annual production of around 900,000 tons to 1,300,000 tons. The
plant is one of the largest lime plants in the western U.S.A.

Graymont is the third largest producer of lime in U.S.A.

                        About Metso

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

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

                        *    *    *

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


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F R A N C E
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ALCATEL-LUCENT: Inks Submarine Cable Network Deal with EASSy
------------------------------------------------------------
Alcatel-Lucent has signed a turnkey contract with the East
Africa Submarine Cable System (EASSy) consortium to lay the
first ever optical submarine cable network landing in East
Africa.

Based on Alcatel-Lucent's submarine and terrestrial optical
solutions, EASSy will provide connectivity across the continent
to support the increase in local traffic from both traditional
and new broadband services.  Additionally, with interconnection
to other submarine cable systems to the North and South, this
project will provide an international gateway, crucial for the
economic development of the region.

With completion scheduled by the end of 2008, the EASSy
submarine network will deliver a regional capacity of 320
Gbit/s. Governments, public administrations and businesses will
leverage advanced technology to support new applications such as
remote medical diagnosis and international call centers.  
Consumers will benefit from accessible and affordable broadband
Internet.

The EASSy submarine network will span nearly 10,000 km linking
eight countries from Sudan to South Africa, via Djibouti,
Somalia, Kenya, Tanzania, Madagascar and Mozambique.  Landings
will be located in Port Sudan, Djibouti (Djibouti), Mogadishu
(Somalia) Mombasa (Kenya), Dar Es Salaam (Tanzania), Toliary
(Madagascar), Maputo (Mozambique) and Mtunzini (South Africa).  
By interconnecting with Sea-Me-We 3, Sea-Me-We 4, SAS1, Falcon
and SAT3/ WASC /SAFE, the EASSy submarine cable system will also
serve as a supporting infrastructure for these networks.

"This project represents a milestone in the development of the
African communication infrastructure, where there is a strong
need for optical connectivity," Sammy Kirui, Chairman of the
EASSy Project Management Committee and Managing Director of
Telkom Kenya, said.  "Alcatel-Lucent is recognized as one of the
key turnkey suppliers in the submarine cable market and was
selected through a competitive tendering process."

"Globalization of the economy and the Internet have enhanced
communications, and submarine networks contribute greatly by
connecting almost every corner in the world," said Jean
Godeluck, President of Alcatel-Lucent's submarine network
activity.  "Our turnkey approach to projects allows consortia
like EASSy to continue breaking barriers and extending
communications capabilities to those areas which are not
adequately served."

The Alcatel-Lucent submarine solution will be based on its 1620
Light Manager next-generation DWDM submarine platform, and will
also include cables and submarine repeaters.  Branching units
will ensure direct connectivity to landing stations where
Alcatel-Lucent will deploy its 1678 Metro Core Connect (MCC) for
terrestrial interconnection.  

The Alcatel-Lucent 1350 management system will supervise all the
equipment supplied.  A comprehensive suite of professional
services, including project management, engineering, marine
operation, and installation testing and commissioning, is part
of this turnkey project.

                   About the EASSy Consortium

EASSy is a project set up by 22 licensed telecommunications
operators in the Eastern and Southern African region and a few
international carriers.

                      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 CORP: Plan Investors Extend Termination Deadline
-------------------------------------------------------
David M. Sherbin, vice president, general counsel, and chief
compliance officer of Delphi Corporation, disclosed of in a Form
8-K filing with the U.S. Securities and Exchange Commission that
Delphi and the Plan Investors entered into an amendment of the
Equity Purchase Commitment Agreement on Feb. 28, 2007.

The Plan Investors are:

   -- A-D Acquisition Holdings LLC, an affiliate of Appaloosa
      Management L.P.;

   -- Harbinger Del-Auto Investment Co. Ltd., an affiliate of
      Harbinger Capital Partners Master Fund I, Ltd.;

   -- Dolce Investments LLC, an affiliate of Cerberus Capital
      Management, L.P.;

   -- Merrill Lynch, Pierce, Fenner & Smith Incorporated; and

   -- UBS Securities LLC.

Under the EPCA Amendment, the date by which Delphi, A-D
Acquisition Holdings, LLC, or Dolce Investments LLC have the
right to terminate the EPCA on account of Delphi not having
completed tentative labor agreements with its principal U.S.
labor unions and a consensual settlement of legacy issues with
General Motors Corp. is extended beyond Feb. 28, 2007,
to a future date to be established pursuant to a 14-day notice
mechanism among the parties.

Delphi, ADAH and Dolce have agreed not to exercise the
termination right before March 15, 2007, Mr. Sherbin relates.

The EPCA Amendment also extends the deadline to make certain
regulatory filings under the federal anti-trust laws in
connection with the framework transaction.

A full-text copy of the EPCA Amendment is available for free at
the Securities and Exchange Commission:

               http://ResearchArchives.com/t/s?1a90

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 US$17,098,734,530 in total assets
and US$22,166,280,476 in total debts.  

The Debtors' exclusive plan-filing period expires on July 31,
2007. (Delphi Corporation Bankruptcy News, Issue No. 60;
Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/ or 215/945-7000).


DELPHI CORP: Seeks Approval of Valeo/Metcalf Transaction
--------------------------------------------------------
Delphi Corporation and its debtor-affiliates ask the Honorable
Robert D. Drain of the U.S. Bankruptcy Court for the Southern
District of New York to authorize an affiliate, Delphi
Automotive Systems, LLC, to enter into a Purchase Agreement,
Assignment Agreement, Lease, Sublease, and Escrow Agreement, and
effectuate the Valeo/Metcalf Transaction.

The Purchase Agreement, Assignment Agreement, Lease, Sublease,
and Escrow Agreement were negotiated at arm's-length and in good
faith, John Wm. Butler, Jr., Esq., at Skadden, Arps, Slate,
Meagher & Flom LLP, in Chicago says avers.  

Moreover, the Debtors' entry into the Transaction will generate
US$123,000,000 worth of net savings over 10 years, with a one-
time capital spending and expenses of approximately
US$41,000,000 over two years.

The Debtors also seek the Court's permission to reject two of
their property leases in connection with their entry into and
consummation of the Transaction.

The Debtors have determined that it would be strategically
advantageous to consolidate multiple office and technical sites
in Michigan and Illinois into one new location in Michigan.
Subsequently, in the latter part of 2006, the Debtors conducted
a search for a facility that would allow them to meet their
objective.

In October 2006, the Debtors located an appropriate site in
Auburn Hills, Michigan.  The Property comprises approximately of
347,000 square feet of office space and 90,000 square feet of
lab space situated on roughly 35 acres of land.

The Property will allow the Debtors to locate a single state-of-
the-art technical center closer to their major customers like
General Motors Corp., Ford, DaimlerChrysler, and Hyundai,
Mr. Butler says.

After locating the Property, the Debtors proceeded to negotiate
a multiparty transaction pursuant to which the Property would be
acquired by a third-party investor and leased to Delphi
Automotive Systems, LLC.  DAS negotiated with the Property's
current owner, Valeo Electrical Systems, Inc., to acquire the
Property for US$33,000,000.

Over a period of several months, the Debtors solicited offers
from numerous parties for proposals to purchase the Property and
lease it to DAS on an initial 10-year lease term, Mr. Butler
relates.  After reviewing more than 10 offers, the Debtors
determined that the Metcalf Family Trust presented the best
offer.

The agreements that make up the Valeo/Metcalf Transaction
include a purchase agreement, an assignment agreement, a lease,
a sublease, and an escrow agreement.

                        Purchase Agreement

To effectuate the Transaction, DAS executed a Purchase Agreement
and immediately assigned the Purchase Agreement to Metcalf under
an Assignment Agreement.  Once Metcalf closes the transactions
contemplated under the Purchase Agreement and attains possession
of the Property, the Lease from Metcalf to DAS will commence.

The parties have agreed that DAS and Metcalf will have until
April 6, 2007, to complete their due diligence of the Property
and title.  Prior to the expiration of the Due Diligence Period,
Metcalf is required to give written notice of its approval of
the Property to Valeo.

Within three business days of execution of the Purchase
Agreement, Metcalf will deposit US$825,000 with a title company.
After giving the Approval Notice, Metcalf will deposit an
additional US$825,000 with a title company.  Once the Approval
Notice is sent to Valeo, the Deposit will be non-refundable.

The parties have slated April 30, 2007, as the closing date of
the Purchase Agreement.

A full-text copy of the Purchase Agreement, with attached copies
of the Sublease and the Escrow Agreement, is available for free
at http://ResearchArchives.com/t/s?1b28

                       Assignment Agreement

In addition to assigning the Purchase Agreement to Metcalf, the
Assignment Agreement provides that if the Lease Transaction is
terminated through DAS' direction and through no fault of
Metcalf, DAS will compensate Metcalf up to US$50,000 for its
actual and reasonable expense.

Pursuant to the Assignment Agreement, Metcalf will assign to DAS
LLC its interest, if any, in any rents collected under the
Sublease between DAS and Valeo.

A full-text copy of the Assignment Agreement between DAS and
Metcalf is available for free at:

               http://ResearchArchives.com/t/s?1b29

                              Lease

The Lease provides for an initial term of 10 years, with two
optional additional terms of five years each.  The monthly base
rental for the initial 10-year term is US$268,125, or US$7.35
per square foot, per annum.  DAS will be responsible for all
operating expenses and real estate taxes.  As a result, the
effective cost per square foot, including base rent and
operating costs, is approximately US$19.98 for the first year.

DAS relates that its extensive market analysis indicate that the
rental rate is within market rates for similar situated
properties.

A full-text copy of the Lease between DAS and Metcalf is
available for free at http://ResearchArchives.com/t/s?1b2a

                             Sublease

Under the Sublease, Valeo will sublet a portion of the Property
from DAS while it transitions out of the Property.  For the
first 120 days after the effective date of the Lease, Valeo will
sublet 141,800 square feet from DAS.  For the succeeding 30
days, Valeo will sublet 57,000 square feet.  Prior to the 150th
day after the Lease' effectivity, Valeo will completely depart
from the Property and the Sublease will terminate by its terms.

The total rent for the Sublease term amounts to US$780,250,
provided that Valeo does not elect to exit the Property before
the end of the Sublease, Mr. Butler notes.  The Sublease will
therefore enable DAS to earn revenue from a portion of the
Property while it is transitioning certain operations to the
Property.

                         Escrow Agreement

As security for the rent due under the Sublease and to protect
DAS from any potential damages related to its subtenancy, Valeo
will deposit US$880,250 into escrow under the terms of an Escrow
Agreement.

The size of the Property, according to Mr. Butler, will enable
the Debtors to consolidate six of their leased office and
technical centers in Michigan and Illinois and a portion of one
owned site in Flint, Michigan.  The facilities that would be
moved to the Property or other Delphi facilities and their
current lease end dates are:

                                                       Lease
   City            State  Address                     End Date
   ----            -----  -------                     --------
   Brighton          MI   12501 East Grand River      06/30/2008
   Troy              MI   1322 Rankin                 04/30/2007
   Troy              MI   1441 Long Lake Road         04/30/2007
   Troy              MI   1401 Crooks Road            03/31/2010
   Shelby Township   MI   51786 Shelby Parkway        07/31/2010
   Downers Grove     IL   3110 Woodcreek Drive        08/14/2010
   Flint             MI   1601 North Averill Avenue   N/A

With respect to the Brighton, Rankin, and Long Lake facilities,
the Debtors would vacate those facilities and complete the
transition of the functions performed in those facilities to the
Property by the end of the current lease terms for each of the
facilities.  With respect to the Crooks Road property, the
Debtors would terminate the lease under its terms by exercising
a negotiated termination provision in the lease.  Some of the
employees in the Flint Technical Center would move to the
Property and the Flint Technical Center would await further
disposition.

As the Debtors sell or wind-down their non-core businesses, they
will only be using approximately 76% of their office capacity at
the Shelby facility and 33% of their office capacity at the
Downers Grove facility, Mr. Butler tells the Court.  

In conjunction with their financial and real estate advisors,
the Debtors have determined that the Shelby Lease and the
Downers Grove Lease cannot be profitably assumed and assigned to
a third party.  With both leases set to expire in 2010, the
Debtors need to reject the leases to avoid paying for excess
capacity for the remainder of the lease terms, Mr. Butler
maintains.

The Debtors expect that they will need until Sept. 30, 2007,
to vacate the Shelby facility and transition operations to the
Property.  Similarly, the Debtors expect to vacate the Downers
Grove facility by Nov. 30, 2007.

Accordingly, the Debtors seek the Court's authority to reject:

   (i) the Shelby Lease effective as of Sept. 30, 2007; and

  (ii) the Downers Grove Lease effective as of Nov. 30, 2007.

In the event the Debtors are able to vacate the Shelby and
Downer's Grove facilities earlier than anticipated, the Debtors
seek the Court's permission to reject the Shelby Lease effective
as of Aug. 31, 2007, and the Downers Grove Lease effective as
of Oct. 31, 2007, upon 10 days' written notice to the lessors
of those premises.

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 US$17,098,734,530 in total assets
and US$22,166,280,476 in total debts.  

The Debtors' exclusive plan-filing period expires on July 31,
2007. (Delphi Corporation Bankruptcy News, Issue No. 60;
Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/
or 215/945-7000).


DELPHI CORP: InPlay Sells US$7.5-Million Settlement Claim
---------------------------------------------------------
InPlay Technologies(R) disclosed Monday that it sold its allowed
US$7.5 million general unsecured non-priority claim against
Delphi Automotive Systems LLC.

InPlay sold the claim for a value no less than the face amount
of the allowed claim.

In February 2007, the U.S. Bankruptcy Court for the Southern
District of New York approved a settlement agreement between
InPlay and Delphi under which InPlay was granted an allowed
general unsecured non-priority claim against Delphi Automotive
Systems, LLC in the amount of US$7.5 million.

InPlay's claim stems from an agreement signed between Duraswitch
and Delphi in 2000. Delphi paid a non-refundable payment of
US$4 million and committed US$12 million minimum royalties to
Duraswitch through 2007 for exclusive rights to use Duraswitch
technologies in the automotive industry.

Delphi had paid US$3 million of that US$12 million commitment to
InPlay, with an additional US$3 million due in July 2006 and
US$6 million in July 2007.  As part of its bankruptcy filing in
October 2005, Delphi filed a motion seeking rejection of this
agreement under relevant bankruptcy law.  The Court allowed the
rejection subject to InPlay's right to claim damages for the
breach of the agreement.  InPlay subsequently filed a damages
claim for the remaining US$9 million in minimum royalties.

                  About InPlay Technologies

InPlay Technologies -- http://www.inplaytechnologies.com/--
(NASDAQ: NPLA) develops, markets and licenses proprietary
emerging technologies.  Working with its licensees and OEM
customers, InPlay offers technology solutions that enable
innovative designs and improved functionality for electronic
products.  The company's MagicPoint(R) technology is the only
digital-based pen-input solution for the rapidly growing tablet
PC and mobile computing markets.  Its Duraswitch(R) brand of
electronic switch technologies couples the friendly tactile
feedback of mechanical pushbuttons and rotary dials with the
highly reliable, thin profile of membrane switches, making it
ideal in a wide range of commercial and industrial applications.  
InPlay is focused on further commercializing these technologies
and seeking additional innovative technologies to enhance its
portfolio.

                         About Delphi

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 US$17,098,734,530 in total assets
and US$22,166,280,476 in total debts.  The Debtors' exclusive
plan-filing period expires on July 31, 2007.


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


AKUNA GESELLSCHAFT: Claims Registration Period Ends April 13
------------------------------------------------------------
Creditors of AKUNA Gesellschaft fuer klassische chinesische
Medizin und Alternativmedizin mbH & Co. KG have until April 13
to register their claims with court-appointed insolvency manager
Bettina Breitenbuecher.

Creditors and other interested parties are encouraged to attend
the meeting at 2:40 p.m. on May 15, at which time the insolvency
manager will present her first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Mosbach
         Meeting Hall 12
         Lohrtalweg 2
         74821 Mosbach
         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:

         Bettina Breitenbuecher
         Neckargartacher Str. 90
         74080 Heilbronn
         Germany
         Tel: 07131/913440

The District Court of Mosbach opened bankruptcy proceedings
against AKUNA Gesellschaft fuer klassische chinesische Medizin
und Alternativmedizin mbH & Co. KG on March 5.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         AKUNA Gesellschaft fuer klassische chinesische Medizin
         und Alternativmedizin mbH & Co. KG
         Attn: Juergen Schulz, Manager
         Kuranlagen 1
         69429 Waldbrunn
         Germany


ALBERT LEYSER: Claims Registration Period Ends May 2
----------------------------------------------------
Creditors of Albert Leyser GmbH & Co KG have until May 2 to
register their claims with court-appointed insolvency manager
Ulrich H. Laub.

Creditors and other interested parties are encouraged to attend
the meeting at 2:00 p.m. on May 16, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Idar-Oberstein
         Hall 201
         Idar-Oberstein
         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:

         Ulrich H. Laub
         Hauptstrasse 161
         55743 Idar-Oberstein
         Germany

The District Court of Idar-Oberstein opened bankruptcy
proceedings against Albert Leyser GmbH & Co KG on March 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Albert Leyser GmbH & Co KG
         Attn: Michael and Susanne Leyser, Managers
         Hauptstrasse 25
         55743 Fischbach
         Germany


ART OF SERVICE: Claims Registration Period Ends April 12
--------------------------------------------------------
Creditors of Art of Service GmbH Personal- & Facilitymanagement
have until April 12 to register their claims with court-
appointed insolvency manager Andreas Muehlbauer.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on May 24, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Regensburg
         Hall 105
         Augustenstr. 5
         Regensburg
         Germany

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

The insolvency manager can be contacted at:

         Andreas Muehlbauer
         Eichelacker 13-15
         93170 Bernhardswald
         Germany
         Tel: 09407/90956
         Fax: 09407/90958

The District Court of Regensburg opened bankruptcy proceedings
against Art of Service GmbH Personal- & Facilitymanagement on
March 1.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be contacted at:

         Art of Service GmbH Personal- & Facilitymanagement
         Reitfeld 6
         93086 Woerth a.d. Donau
         Germany


AUSBAU GMBH: Claims Registration Ends April 24
----------------------------------------------
Creditors of Ausbau GmbH have until April 24 to register their
claims with court-appointed insolvency manager Ruediger Weiss.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 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 Halle-Saalkreis
         Hall 1.043
         Judicial Center
         Thueringer Str. 16
         06112 Halle
         Germany

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

The insolvency manager can be reached at:

         Ruediger Weiss
         Delitzscher Str. 70
         06112 Halle
         Germany
         Tel: 0345/614080
         Fax: 0345/6140810
         Web site: http://www.wallnerweiss.info

The District Court of Halle-Saalkreis opened bankruptcy
proceedings against Ausbau GmbH on Feb. 27.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Ausbau GmbH
         Karl-Fischer-Str. 3
         06295 Eisleben
         Germany


BAUDI VERWALTUNGS: Creditors' Meeting Slated for April 18
---------------------------------------------------------
The court-appointed insolvency manager for BauDI Verwaltungs-
und Dienstleistungs GmbH & Co. KG, Carsten Koch, will present
his first report on the Company's insolvency proceedings at a
creditors' meeting at 9:45 a.m. on April 18.

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

         The District Court of Marburg/Lahn
         Hall 157
         Universitatsstrasse 48
         35037 Marburg/Lahn
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:45 a.m. on June 13, at the same venue.

Creditors have until May 2 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Carsten Koch
         Wilhelmshoeher Allee 270
         34131 Kassel
         Germany
         Tel: 0561/3166-311
         Fax: 0561/3166-312

The District Court of Marburg/Lahn opened bankruptcy proceedings
against BauDI Verwaltungs- und Dienstleistungs GmbH & Co. KG on
March 1.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         BauDI Verwaltungs- und Dienstleistungs GmbH & Co. KG
         Attn: Achim Bauer, Manager
         Lahnstrasse 16
         35091 Coelbe
         Germany


BEST BRAUN: Creditors' Meeting Slated for April 19
--------------------------------------------------
The court-appointed insolvency manager for BEST Braun-Estrich-
System-Technik GmbH, Boris A. Schmidt-Burbach, will present his
first report on the Company's insolvency proceedings at a
creditors' meeting at 8:00 a.m. on April 19.

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

         The District Court of Marburg/Lahn
         Hall 159
         Universitatsstrasse 48
         35037 Marburg/Lahn
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:00 a.m. on June 13 at Hall 157 of the same
venue.

Creditors have until May 2 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Dr. Boris A. Schmidt-Burbach
         Fach 25
         Wilhelmstrasse 17
         35037 Marburg
         Germany
         Tel: 06421/30499-0
         Fax: 06421/30499-20

The District Court of Marburg/Lahn opened bankruptcy proceedings
against BEST Braun-Estrich-System-Technik GmbH on March 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         BEST Braun-Estrich-System-Technik GmbH
         Attn: Horst Braun and Volker Schlosser, Managers
         Biegenstrasse 42
         35260 Stadtallendorf
         Germany


BRUENING- BAU: Claims Registration Period Ends March 31
-------------------------------------------------------
Creditors of Bruening- Bau- GmbH have until March 31 to register
their claims with court-appointed insolvency manager Henning
Jung.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on May 7, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Kassel
         Hall 234
         Friedrichsstrasse 32-34
         34117 Kassel
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Henning Jung
         Wilhelmshoeher Allee 270
         34131 Kassel
         Germany
         Tel: 0561/3166311
         Fax: 0561/3166312
         E-Mail: ks@leonhardt-westhelle.eu

The District Court of Kassel opened bankruptcy proceedings
against Bruening- Bau- GmbH on Feb. 22.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Bruening- Bau- GmbH
         Attn: Dagmar Bruening, Manager
         Eichwaldstrasse 89 B
         34123 Kassel
         Germany


DIALOG MARKETING: Claims Registration Period Ends April 10
----------------------------------------------------------
Creditors of Dialog Marketing GmbH have until April 10 to
register their claims with court-appointed insolvency manager
Christian Plail.

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

The meeting of creditors will be held at:

         The District Court of Augsburg
         Meeting Hall 162
         Alten Einlass 1
         86150 Augsburg
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Christian Plail
         c/o SKP Partnerschaftsgesellschaft
         Eserwallstr. 1-3
         86150 Augsburg
         Germany

The District Court of Augsburg opened bankruptcy proceedings
against Dialog Marketing GmbH on Feb. 26.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Dialog Marketing GmbH
         Attn: Hans-Joachim Martini, Manager
         Messerschmittring 41
         86343 Koenigsbrunn
         Germany


DIETER LANGE: Claims Registration Period Ends April 10
------------------------------------------------------
Creditors of Dieter Lange GmbH have until April 10 to register
their claims with court-appointed insolvency manager Thomas
Kind.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on May 8, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be contacted at:

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

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

The Debtor can be contacted at:

         Dieter Lange GmbH
         Attn: Dieter Kloe and Rudolf Meistner, Managers
         Eschenweg 5
         76185 Karlsruhe
         Germany


F + S EDELSTAHLSCHMIEDE: Claims Registration Period Ends April 2
----------------------------------------------------------------
Creditors of F + S Edelstahlschmiede GmbH have until April 2 to
register their claims with court-appointed insolvency manager
Michael Wirth.

Creditors and other interested parties are encouraged to attend
the meeting at 11:30 a.m. on May 9, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be contacted at:

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

The District Court of Nuremberg opened bankruptcy proceedings
against F + S Edelstahlschmiede GmbH on March 6.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         F + S Edelstahlschmiede GmbH
         Attn: Michael Zuege, Manager
         Walter-Bouhon-Strasse 7
         90427 Nuremberg
         Germany


GETAN DACH-AUSBAU: Creditors' Meeting Slated for May 3
------------------------------------------------------
The court-appointed insolvency manager for GETAN Dach-Ausbau
GmbH, Michael C. Frege, will present his first report on the
Company's insolvency proceedings at a creditors' meeting at
9:15 a.m. on May 3.

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 9:00 a.m. on July 5, at the same venue.

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

The insolvency manager can be reached at:

         Michael C. Frege
         Lennestr. 7
         10785 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against GETAN Dach-Ausbau GmbH on Feb. 28.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         GETAN Dach-Ausbau GmbH
         Huttenstr.31
         10553 Berlin
         Germany


GIS GERUESTBAU: Creditors' Meeting Slated for April 12
------------------------------------------------------
The court-appointed insolvency manager for GIS Geruestbau- und
Industieservice GmbH, Ralph Buenning, will present his first
report on the Company's insolvency proceedings at a creditors'
meeting at 9:45 a.m. on April 12.

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 July 12, at the same venue.

Creditors have until May 29 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

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

The District Court of Bremen opened bankruptcy proceedings
against GIS Geruestbau- und Industieservice GmbH on March 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         GIS Geruestbau- und Industieservice GmbH
         Emder Str. 76
         28219 Bremen
         Germany


HERMANN SCHWAAK: Claims Registration Ends April 2
-------------------------------------------------
Creditors of Hermann Schwaak GmbH & Co. KG have until April 2 to
register their claims with court-appointed insolvency manager
Dr. Guenter Trutnau.

Creditors and other interested parties are encouraged to attend
the meeting at 1:20 p.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 Essen
         Meeting Hall 293
         Second Floor
         Zweigertstr. 52
         45130 Essen
         Germany

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

The insolvency manager can be reached at:

         Dr. Guenter Trutnau
         Hagen 30
         45127 Essen
         Germany
         Tel: (0201) 1095-3

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

The Debtor can be reached at:

         Hermann Schwaak GmbH & Co. KG
         Prosper Str. 64-70
         46236 Bottrop
         Germany

         Attn: Klaus Kreuz, Manager
         Kaldenhof 20
         45359 Essen
         Germany


HERMANN THIELE: Claims Registration Ends April 25
-------------------------------------------------
Creditors of Hermann Thiele Grossvertrieb GmbH i.L. have until
April 25 to register their claims with court-appointed
insolvency manager Karina Schwarz.

Creditors and other interested parties are encouraged to attend
the meeting at 3:05 p.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 Hannover
         Hall 226
         Second Upper Floor
         Service Bldg.
         Hamburger Allee 26
         30161 Hannover
         Germany

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

The insolvency manager can be reached at:

         Karina Schwarz
         Adenauerallee 4
         30175 Hannover
         Germany
         Tel: 0511 2353150
         Fax: 0511 2353151

The District Court of Hannover opened bankruptcy proceedings
against Hermann Thiele Grossvertrieb GmbH i.L. on March 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Hermann Thiele Grossvertrieb GmbH i.L.
         Peiner Str. 78
         30519 Hannover
         Germany


HIS KORROSIONS: Creditors' Meeting Slated for April 12
------------------------------------------------------
The court-appointed insolvency manager for HIS Korrosions- und
Bautenschutz GmbH & Co. KG, Ralph Buenning, will present his
first report on the Company's insolvency proceedings at a
creditors' meeting at 9:45 a.m. on April 12.

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 July 12 at the same venue.
Creditors have until April 29 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

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

The District Court of Bremen opened bankruptcy proceedings
against HIS Korrosions- und Bautenschutz GmbH & Co. KG
on March 1.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         HIS Korrosions- und Bautenschutz GmbH & Co. KG
         Emder Str. 76
         28219 Bremen
         Germany


HOLZWICHTEL GMBH: Claims Registration Period Ends March 30
----------------------------------------------------------
Creditors of Holzwichtel GmbH have until March 30 to register
their claims with court-appointed insolvency manager Kai Dellit.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 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 Chemnitz
         Hall 24
         Fuerstenstrasse 21-23
         9130 Chemnitz
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Kai Dellit
         Michaelstrasse 71
         09116 Chemnitz
         Germany
         Tel: (0371) 381770
         Fax: (0371) 38177
         E-mail: chemnitz@hww-kanzlei.de

The District Court of Chemnitz opened bankruptcy proceedings
against Holzwichtel GmbH on Feb. 20.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Holzwichtel GmbH
         Attn: Peggy Reinhold, Manager
         Grosse Kirchgasse 9
         09456 Annaberg-Buchho
         Germany


IBS BETON: Claims Registration Ends April 3
-------------------------------------------
Creditors of IBS Beton- und Tiefbau GmbH have until April 3 to
register their claims with court-appointed insolvency manager
Goetz Lautenbach.

Creditors and other interested parties are encouraged to attend
the meeting at 9:35 a.m. on April 24, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Offenbach am Main
         Hall 162N
         First Floor
         Kaiserstrasse
         63065 Offenbach am Main
         Germany

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

The insolvency manager can be reached at:

         Goetz Lautenbach
         Zeilweg 42
         D 60439 Frankfurt am Main
         Germany
         Tel: 069/963761-130
         Fax: 069/963761-145

The District Court of Offenbach am Main opened bankruptcy
proceedings against IBS Beton- und Tiefbau GmbH on March 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         IBS Beton- und Tiefbau GmbH
         Attn: Hermann Beggert, Manager
         Dreieichweg 41
         65428 Ruesselsheim
         Germany


KM BAUPLAN: Claims Registration Period Ends April 2
---------------------------------------------------
Creditors of KM BauPlan Bau & Handels GmbH have until April 2 to
register their claims with court-appointed insolvency manager
Rainer Eckert.

Creditors and other interested parties are encouraged to attend
the meeting at 8:20 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 Hanover
         Hall 226
         Second Upper Floor
         Service Bldg.
         Hamburger Allee 26
         30161 Hanover
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. jur. Rainer Eckert
         Arthur-Menge-Ufer 5
         30169 Hanover
         Germany
         Tel: 0511 626287-0
         Fax: 0511 626287-10

The District Court of Hanover opened bankruptcy proceedings
against KM BauPlan Bau & Handels GmbH on Feb. 22.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         KM BauPlan Bau & Handels GmbH
         Sorststr. 11
         30165 Hanover
         Germany

         Attn: Metin Karaca, Manager
         Legienstr. 4
         30165 Hanover
         Germany


KORSING-KUECHEN GMBH: Claims Registration Ends May 29
-----------------------------------------------------
Creditors of KORSING-Kuechen GmbH have until May 29 to register
their claims with court-appointed insolvency manager Dr. Martin
van Buehren.

Creditors and other interested parties are encouraged to attend
the meeting at 11:06 a.m. on June 28, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Cologne
         Meeting Hall 14
         Ground Floor
         Luxemburger Strasse 101
         50939 Cologne
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Martin van Buehren
         Bochumer Strasse 6
         51145 Cologne
         Germany

The District Court of Cologne opened bankruptcy proceedings
against KORSING-Kuechen GmbH on March 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         KORSING-Kuechen GmbH
         Robert-Perthel-Str. 38
         50739 Cologne
         Germany

         Attn: Heinz Wilhelm Forst, Manager
         Pappelweg 3
         50767 Cologne
         Germany


KRAL-SAN GMBH: Claims Registration Ends April 9
-----------------------------------------------
Creditors of Kral-San GmbH have until April 9 to register their
claims with court-appointed insolvency manager Dr. Gideon Boehm.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on May 21, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Pinneberg
         Hall 5
         First Floor
         Station Route 17
         25421 Pinneberg
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Gideon Boehm
         Bachstrasse 85 a
         22083 Hamburg
         Germany

The District Court of Pinneberg opened bankruptcy proceedings
against Kral-San GmbH on Feb. 20.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Kral-San GmbH
         Attn: Ali Suekran Havuc, Manager   
         Industriestr. 2 k
         22869 Schenefeld
         Germany


KYBERMED GESELLSCHAFT: Claims Registration Period Ends April 5
--------------------------------------------------------------
Creditors of Kybermed Gesellschaft fuer Information und
Kommunikation im Bereich Medizin und Gesundheitswesen mbH & Co.
have until April 5 to register their claims with court-appointed
insolvency manager Hubertus Bange.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on April 27, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court Muenster
         Meeting Hall 13 B
         Gerichtsstr. 2-6
         48149 Muenster
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Hubertus Bange
         Kardinal-von-Galen-Str. 5
         48268 Greven
         Germany
         Tel: 02571/865-0
         Fax: +4925718645

The District Court of Muenster opened bankruptcy proceedings
against Kybermed Gesellschaft fuer Information und Kommunikation
im Bereich Medizin und Gesundheitswesen mbH & Co. on Feb. 22.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Kybermed Gesellschaft fuer Information und
         Kommunikation im Bereich Medizin und
         Gesundheitswesen mbH & Co.
         Attn: Joachim Trauboth, Manager
         Sinninger Strasse 44
         48282 Emsdetten
         Germany


LIEBEVOLL ALTSTADT: Claims Registration Period Ends April 3
-----------------------------------------------------------
Creditors of Liebevoll Altstadt GmbH have until April 3 to
register their claims with court-appointed insolvency manager
Dr. Joerg Nerlich.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 a.m. on April 24, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Duesseldorf
         Meeting Hall A 341
         Third Floor
         Muehlenstrasse 34
         40213 Duesseldorf
         Germany     
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Joerg Nerlich
         Louise-Dumont-Str. 25
         40211 Duesseldorf
         Germany

The District Court of Duesseldorf opened bankruptcy proceedings
against Liebevoll Altstadt GmbH on Feb. 23.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Liebevoll Altstadt GmbH
         Ratinger Str. 24
         40213 Duesseldorf
         Germany

         Attn: Dr. Andre Petsch, Manager
         Amsterdamer Str. 2
         40474 Duesseldorf
         Germany


LOOS SANITARTECHNIK: Claims Registration Ends March 27
------------------------------------------------------
Creditors of Loos Sanitartechnik GmbH have until March 27 to
register their claims with court-appointed insolvency manager
Wolfgang Weber.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on April 27, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Schwarzenbek
         Hall 3
         Moellner Str. 20
         Schwarzenbek
         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 Weber
         Lauenburger Srasse 15
         21493 Schwarzenbek
         Germany

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

The Debtor can be reached at:

         Loos Sanitartechnik GmbH
         Attn: Thorsten Klentzau, Manager
         Berliner Strasse 141
         21481 Lauenburg
         Germany


MERKUR GMBH: Claims Registration Ends April 10
----------------------------------------------
Creditors of Merkur GmbH have until April 10 to register their
claims with court-appointed insolvency manager Joerg Riedemann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on May 8, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Halle-Saalkreis
         Hall 1.043
         Judicial Center
         Thueringer Str. 16
         06112 Halle
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Joerg Riedemann
         Muehlweg 47, D
         06114 Halle
         Germany
         Tel: 0345/293900
         Fax: 0345/2939029

The District Court of Halle-Saalkreis opened bankruptcy
proceedings against Merkur GmbH on March 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Merkur GmbH
         Lessingstr. 25
         06112 Halle
         Germany

         Attn: Volker Koehler, Manager
         Bergstr. 44
         38877 Benneckenstein
         Germany


MTW NETWORK: Claims Registration Ends April 16
----------------------------------------------
Creditors of MTW network GmbH have until April 16 to register
their claims with court-appointed insolvency manager
Dr. Lucas F. Floether.

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

The meeting of creditors will be held at:

         The District Court of Leipzig
         Hall 145
         First Floor
         Enforcement Court
         Bernhard Goering Strasse 64
         04275 Leipzig
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Lucas F. Floether
         Specks Hof Eingang C
         Nikolaistrasse 3-5,
         04109 Leipzig
         Germany
         Tel: 0341/652200
         Fax: O341/65220111

The District Court of Leipzig opened bankruptcy proceedings
against MTW network GmbH on March 6.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         MTW network GmbH
         Attn: Dr. Frank Thiel and Werner Tischer, Managers
         Humboldtstrasse 18
         04105 Leipzig
         Germany


NCK KUNSTSTOFFTECHNIK: Creditors Must Register Claims by April 2
----------------------------------------------------------------
Creditors of NCK Kunststofftechnik GmbH Systeme aus have until
April 2 to register their claims with court-appointed insolvency
manager Frank Ruediger Scheffler.

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 Dresden
         Hall D131
         Olbrichtplatz 1
         01099 Dresden
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Frank Ruediger Scheffler
         C.-D.-Friedrich-Str. 6
         01219 Dresden
         Germany

The District Court of Dresden opened bankruptcy proceedings
against NCK Kunststofftechnik GmbH Systeme aus on March 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         NCK Kunststofftechnik GmbH Systeme aus
         Faserverbundwerkstoffen
         Steinbruch 5
         02708 Niedercunnersdorf
         Germany


NORDSEE-KURBADER: Creditors' Meeting Slated for March 27
--------------------------------------------------------
The court-appointed insolvency manager for Nordsee-Kurbader
Betriebsgesellschaft Helgoland mbH, Christoph Henningsmeier,
will present his first report on the Company's insolvency
proceedings at a creditors' meeting at 10:30 a.m. on March 27.

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

         The District Court of Cuxhaven
         Hall 112
         Old Building
         Deichstr. 12 A
         27472 Cuxhaven
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during the meeting.

The insolvency manager can be reached at:

         Christoph Henningsmeier
         Osdorfer Landstr. 230
         22549 Hamburg
         Germany
         Tel: 040 8078810
         Fax: 040 807881-20

The District Court of Cuxhaven opened bankruptcy proceedings
against Nordsee-Kurbader Betriebsgesellschaft Helgoland mbH on
March 1.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Nordsee-Kurbader Betriebsgesellschaft Helgoland mbH
         Mecklenburger Str. 47
         27478 Cuxhaven
         Germany       


NOVEMBER AG: Creditors Approve Insolvency Plans
-----------------------------------------------
Creditors of november AG i.l., identif GmbH i.I. and directif
GmbH i.I., had approved the insolvency plans in separate
meetings.

The plans presented to the creditors were found as essential
requirements for the companies' financial restructuring.

November AG i.l. and Biomed-Group in Freiburg, Germany, along
with Dr. Claus Mueller, intend to take further steps for a
successful financial restructuring.

The success of the financial restructuring depends on the
approvals of the corporate bodies of november AG i.I. as well as
on other authorizations.

Headquartered in Erlangen, Germany, november AG i.l. specializes
in bio- and nanotechnology.  It is engaged in the market and
customer-orientated transfer of product developments, as well as
an expansion of existing product and technology portfolios,
through cooperation agreements and financial stakes in other
companies, which return a high yield.  The Company has five
subsidiaries: directif GmbH, identif GmbH, responsif GmbH,
ZAFENA AB, and ACGT Progenomics AG. directif GmbH is active in
the field of diagnostics; identif GmbH is engaged in product and
brand protection, and responsif GmbH, ZAFENA AB and ACGT
Progenomics AG are engaged in the examination, registration and
marketing of therapies and medical diagnoses.  november AG filed
for insolvency in September 2006.  The court opened insolvency
proceedings in December 2006.


ONE WORLD: Creditors Must Register Claims by March 29
-----------------------------------------------------
Creditors of One World Travel & Incentive GmbH have until
March 29 to register their claims with court-appointed
insolvency manager Miguel Grosser.

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 Frankfurt (Main)
         Hall 2
         Building F
         Klingerstrasse 20
         60313 Frankfurt (Main)
         Germany    
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Miguel Grosser
         Muenchener Strasse 13
         60329 Frankfurt am Main
         Tel: 069/2400650
         Fax: 069/24006510
         Germany

The District Court of Frankfrurt (Main) opened bankruptcy
proceedings against One World Travel & Incentive GmbH on
March 1.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         One World Travel & Incentive GmbH
         Hans-Thoma-Str. 24
         60596 Frankfurt am Main
         Germany


P & M COMMUNICATION: Creditors Meeting Slated for April 27
----------------------------------------------------------
The court-appointed insolvency manager for P & M Communication
GmbH, Joachim Heitsch, will present his first report on the
Company's insolvency proceedings at a creditors' meeting at
9:35 a.m. on April 27.

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

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

The Court will also verify the claims set out in the insolvency
manager's report at 9:30 a.m. on July 27 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:

         Joachim Heitsch
         Berliner Str. 117
         10713 Berlin
         Germany

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

The Debtor can be reached at:

         P & M Communication GmbH
         Hauptstrasse 66
         12159 Berlin
         Germany


PLATTEN-KOENIG: Creditors Must Register Claims by April 27
----------------------------------------------------------
Creditors of Platten-Koenig Verlegung-GmbH have until April 27
to register their claims with court-appointed insolvency manager
Karl-Dieter Sommerfeld.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 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 Cologne
         Meeting Hall 142
         First Floor
         Luxemburger Strasse 101
         50939 Cologne
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Karl-Dieter Sommerfeld
         Hammerweg 3
         51766 Engelskirchen
         Germany

The District Court of Cologne opened bankruptcy proceedings
against Platten-Koenig Verlegung-GmbH on March 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Platten-Koenig Verlegung-GmbH
         Unterkaltenbach 14
         51766 Engelskirchen
         Germany


RAMBUS INC: Filing Delay Prompts Second NASDAQ Delisting Notice
---------------------------------------------------------------
Rambus Inc. disclosed that it is unable to timely file its Form
10-K for the period ended Dec. 31, 2006, according to its Form
12(b)-25 filed with the Securities and Exchange Commission.

As expected, on March 6, 2007, the company received an
additional notice of non-compliance from the Staff of The NASDAQ
Stock Market, in accordance with NASDAQ Marketplace Rule
4310(c)(14), due to the delay in the filing of its Annual Report
on Form 10-K for the fiscal year ended Dec. 31, 2006.

As reported, the company received notices of non-compliance from
NASDAQ on Aug. 14, 2006, and Nov. 15, 2006, due to delays in the
filing of the company's Quarterly Reports on Forms 10-Q for the
quarters ended June 30, 2006, and Sept. 30, 2006, respectively.  
The company said that the Forms 10-Q and 10-K filing delays are
attributable to the fact that Rambus' Audit Committee is
conducting an independent review of the company's historical
stock option granting practices and related accounting.

                        Initial Response

In response to the first notice of non-compliance, the company
requested a hearing before the NASDAQ Listing Qualifications
Panel.  Following the hearing, the Panel granted the company's
request for continued listing of its common stock, subject to
the requirements that the company provide the Panel with certain
information relating to the Audit Committee's review, which was
submitted to the Panel, and that the Company file the Forms 10-Q
and any necessary restatements by Feb. 9, 2007.

On Feb. 6, 2007, the NASDAQ Listing and Hearing Review Council
determined it would call the Company's matter for review.  The
Listing Council also determined to stay the Panel decision that
required the Company to file the Forms 10-Q by Feb. 9, 2007.  In
connection with the call for review, the Listing Council has
requested that the company provide an update on its efforts to
file the delayed Forms 10-Q by Mar. 30, 2007.  NASDAQ has also
asked the company to provide a submission addressing the delay
in filing the Form 10-K.  The Company intends to provide all
requested submissions to NASDAQ as promptly as possible.

At present, the company is working diligently to complete all
necessary filings and thereby demonstrate compliance with all
applicable requirements for continued listing on the NASDAQ
Global Select Market; however, there can be no assurance that
the Listing Council will determine to grant the Company a
further extension following its review of the forthcoming
submissions.

                        About Rambus Inc.

Rambus Inc. (NASDAQ: RMBS) -- http://www.rambus.com/-- is a  
technology licensing company specializing in the invention and
design of high-speed chip architectures.  Headquartered in Los
Altos, California, Rambus has regional offices in North
Carolina, India, Germany, Japan, Korea and Taiwan.

                           *     *     *

Rambus disclosed that on Sept. 8, 2006, it received a notice of
purported defaults from the trustee under the indenture
governing the Rambus Zero Coupon Convertible Senior Notes due
Feb. 1, 2010.  The notice asserted that because Rambus was
delinquent in its SEC filings, it was in default under the
indenture governing the Notes, and such default would ripen into
an "Event of Default," as defined in the indenture, on or about
Oct. 17, 2006.  While Rambus has questioned the legal theories
as to whether it was in default under the terms of the
indenture, if an "Event of Default" were to occur, the trustee
or holders of at least 25% in aggregate principal amount of the
Notes then outstanding would have the contractual right to
declare all unpaid principal, and any default or additional
interest on the Notes then outstanding to be due and payable.

If an "Event of Default" were to occur, the noteholders would
have a right to accelerate and receive the US$160.0 million
aggregate principal amount outstanding under the notes, plus any
interest which may have accrued.  Rambus believes that, if an
Event of Default were to occur and the Notes were accelerated,
it has adequate financial resources to pay any unpaid principal
and any interest due on the Notes.  Rambus is evaluating its
options with respect to the Notes.


S U. W VERWALTUNGS: Claims Registration April 12
------------------------------------------------
Creditors of S u. W Verwaltungs GmbH have until April 12 to
register their claims with court-appointed insolvency manager
Jur. A. Koehler.

Creditors and other interested parties are encouraged to attend
the meeting at 8:38 a.m. on April 23, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Montabaur
         Hall 106
         First Stock
         Bahnhofstrasse 47
         56410 Montabaur
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report at 8:35 a.m. on June 11.

The insolvency manager can be reached at:

         Dr. Jur. A. Koehler
         Wilhelmstrasse 42
         65582 Diez
         Germany
         Tel: 06432-64580
         Fax: 06432-645820
         E-mail: verwaltung@koehler-insolvenz.de

The District Court of Montabaur opened bankruptcy proceedings
against S u. W Verwaltungs GmbH on March 2.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         S u. W Verwaltungs GmbH
         Attn: Dieter Woersdoerfer, Manager
         Frankfurter Strasse 19
         56414 Wallmerod
         Germany


SANITATSHAUS AM ROSENGARTEN: Claims Registration Ends April 20
--------------------------------------------------------------
Creditors of Sanitatshaus Am Rosengarten GmbH have until
April 20 to register their claims with court-appointed
insolvency manager Simon Boes.

Creditors and other interested parties are encouraged to attend
the meeting at 11:35 a.m. on May 21, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be contacted at:

         Simon Boes
         Moltkestrasse 3-5
         25421 Pinneberg
         Germany

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

The Debtor can be contacted at:

         Sanitatshaus Am Rosengarten GmbH
         Attn: Jan Ohlsen, Manager
         Bahnhofstr. 57
         22880 Wedel
         Germany


SCHULDNERIN BACKEREI: Claims Registration Ends April 30
-------------------------------------------------------
Creditors of Schuldnerin Backerei Heinemann GmbH have until
April 30 to register their claims with court-appointed
insolvency manager Stefan Hinrichs.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on May 21, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Nordenham
         Hall III
         Bahnhofstrasse 56
         26954 Nordenham
         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 Hinrichs
         Heiligengeiststr. 29
         26121 Oldenburg
         Germany
         Tel: 0441/21891-0
         Fax: 0441/21891-39

The District Court of Nordenham opened bankruptcy proceedings
against Schuldnerin Backerei Heinemann GmbH on Feb. 27.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Schuldnerin Backerei Heinemann GmbH
         Attn: Heiko Heinemann, Manager
         Friedrich-Ebert-Str. 74
         26954 Nordenham
         Germany


SIKKES FORDERTECHNIK: Claims Registration Ends April 5
------------------------------------------------------
Creditors of Sikkes Fordertechnik GmbH have until April 5 to
register their claims with court-appointed insolvency manager
Joerg Riedemann.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on May 7, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Dessau
         Hall 123
         Willy-Lohmann-Str. 33
         Dessau
         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:

         Joerg Riedemann
         Muehlweg 47
         06114 Halle
         Germany
         Tel: 0345/293900
         Fax: 0345/2939029

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

The Debtor can be reached at:

         Sikkes Fordertechnik GmbH
         Carl-Wessel-Strasse 2
         06406 Bernburg
         Germany

         Attn: Andreas Sikkes, Manager
         Radel-berg 21
         06429 Neugattersleben
         Germany


SOZIALSTATION SUEDERELBE: Claims Registration Ends April 21
-----------------------------------------------------------
Creditors of Sozialstation Suederelbe GmbH have until April 21
to register their claims with court-appointed insolvency manager
Joern Weitzmann.

Creditors and other interested parties are encouraged to attend
the meeting at 8:45 a.m. on May 21, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Hamburg
         Hall B 405
         Fourth Floor Annex
         Civil Justice Bldg.
         Sievkingplatz 1
         20355 Hamburg
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Joern Weitzmann
         Arnold-Heise-Strasse 9
         20249 Hamburg
         Germany

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

The Debtor can be reached at:

         Sozialstation Suederelbe GmbH
         Attn: Angelika Koepke, Manager
         Bremer Strasse 21
         21073 Hamburg
         Germany


STICKENS TRANSPORTE: Claims Registration Ends April 23
------------------------------------------------------
Creditors of Stickens Transporte GmbH have until April 23 to
register their claims with court-appointed insolvency manager
Joerg Behrends.

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 Oldenburg
         Meeting Room
         Second Floor
         Elizabeth Route 6
         26135 Oldenburg
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Joerg Behrends
         Scheideweg 161
         26127 Oldenburg
         Germany
         Tel: 0441 - 3616220
         Fax: 0441 - 36162229

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

The Debtor can be reached at:

         Stickens Transporte GmbH
         Heidhuser Weg 7
         26209 Hatten
         Germany

         Attn: Astrid Stickens, Manager
         Krumme Stroot 2
         26209 Hatten
         Germany


TAMTAI HEUBERG: Claims Registration Period Ends April 17
--------------------------------------------------------
Creditors of Tamtai Heuberg GmbH have until April 17 to register
their claims with court-appointed insolvency manager
Dr. Achim Ahrendt.

Creditors and other interested parties are encouraged to attend
the meeting at 10:05 a.m. on May 24, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Hamburg
         Hall B 405
         Fourth Floor Annex
         Civil Justice Bldg.
         Sievkingplatz 1
         20355 Hamburg
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Achim Ahrendt
         Albert-Einstein-Ring 11/15
         22761 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against Tamtai Heuberg GmbH on March 2.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Tamtai Heuberg GmbH
         Attn: Mark Korzilius, Manager
         Heuberg 1
         20354 Hamburg
         Germany


TEGEL GMBH: Creditors' Meeting Slated for April 18
--------------------------------------------------
The court-appointed insolvency manager for Tegel GmbH, Dr.
Christoph Schulte-Kaubruegger, will present his first report on
the Company's insolvency proceedings at a creditors' meeting at
10:50 a.m. on April 18.

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

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

The Court will also verify the claims set out in the insolvency
manager's report at 10:20 a.m. on June 27 at the same venue.

Creditors have until May 10 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

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

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

The Debtor can be reached at:

         Tegel GmbH
         Holzhauser Str. 16/18
         13509 Berlin
         Germany


TOWER AUTOMOTIVE: Posts US$65-Mln Net Loss in Qtr Ended Sept. 30
----------------------------------------------------------------
Tower Automotive, Inc. reported a net loss of US$65.15 million
on revenues of US$615.66 million for the three months ended
Sept. 30, 2006, as compared with a net loss of US$76.55 million
on revenues of US$712.66 million for the three months ended
Dec. 31, 2005.

The decrease in revenues for the year 2006 was primarily due to
lower volume, the impact of two frame programs ending and
unfavorable product mix, which decreased revenue by US$103.5
million during the 2006 period, as compared with the 2005
period.

Chapter 11 and related reorganization expense for the quarter
decreased to US$2.74 million during the 2006 period, as compared
with US$6.61 million in the 2005 period.

                   Results for Nine-Month Period

Sales decreased during the nine months ended Sept. 30, 2006, to
US$2.15 billion from US$2.55 billion during the nine months
ended Sept. 30, 2005.  

For the nine months ended Sept. 30, 2006, the company had a net
loss of US$150.88 million, versus a net loss of US$309 million
for the same period a year earlier.

Chapter 11 and related reorganization expense incurred for the
nine months ended Sept. 30, 2006, decreased by US$93.5 million
to US$58.01 million during the 2006 period, as compared with
US$151.52 million in the 2005 period.

                  Liquidity and Capital Resources

During the first nine months of 2006, the company's cash
requirements were met through operations and a US$725 million
commitment of debtor-in-possession financing.  

At Sept. 30, 2006, the company had available liquidity in the
amount of US$145.8 million, which consisted of US$103.44 million
of cash on hand and the availability of US$43 million for
borrowing under the DIP Financing.

Net cash provided by operating activities was US$13.89 million
during the nine months ended Sept. 30, 2006, as compared with
net cash utilized of US$125.8 million during the nine months
ended Sept. 30, 2005.  Net cash utilized in investing activities
was US$61 million during the first nine months of 2006, as
compared with net cash utilized of US$104.54 million in the
corresponding period of 2005.  Net cash provided by financing
activities was US$84.76 million during the first nine months of
2006, as compared with net cash provided of US$126.75 million
during the comparable period of 2005.

As of Dec. 31, 2006, the company had total assets were
US$2.21 billion and US$2.82 billion in total liabilities,
resulting to US$613.16 million in total stockholders' deficit.  
The company had strained liquidity with US$715.34 million in
total current assets available to pay US$1.29 billion in total
current liabilities as of Dec. 31, 2006.

The company's December 31 balance sheet also showed an
accumulated deficit of US$1.25 billion, as compared with US$1.1
billion in 2005.

Full-text copies of the company's second quarter financials are
available for free at http://ResearchArchives.com/t/s?1b2f

                   About Tower Automotive, Inc.

Headquartered in Grand Rapids, Michigan, Tower Automotive, Inc.
-- http://www.towerautomotive.com/-- is a global designer and  
producer of vehicle structural components and assemblies used by
every major automotive original equipment manufacturer,
including BMW, DaimlerChrysler, Fiat, Ford, GM, Honda,
Hyundai/Kia, Nissan, Toyota, Volkswagen and Volvo.  Products
include body structures and assemblies, lower vehicle frames and
structures, chassis modules and systems, and suspension
components.  The company has operations in Korea, Spain and
Brazil.

The Company and 25 of its debtor-affiliates filed voluntary
chapter 11 petitions on Feb. 2, 2005 (Bankr. S.D.N.Y. Case No.
05-10576 through 05-10601).  James H.M. Sprayregen, Esq., Ryan
B. Bennett, Esq., Anup Sathy, Esq., Jason D. Horwitz, Esq., and
Ross M. Kwasteniet, Esq., at Kirkland & Ellis, LLP, represent
the Debtors in their restructuring efforts.  Ira S. Dizengoff,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represents the
Official Committee of Unsecured Creditors.  When the Debtors
filed for protection from their creditors, they listed
US$787,948,000 in total assets and US$1,306,949,000 in total
debts.


TOWER AUTOMOTIVE: Plan-Filing Period Extended to March 21
---------------------------------------------------------
Pending a final ruling on the request, the Honorable Allen L.
Gropper of the U.S. Bankruptcy Court for the Southern District
of New York extends Tower Automotive Inc. and its debtor-
affiliates' exclusive periods through and including
March 21, 2007.

Judge Gropper adjourns the hearing on the request to March 21.

As reported in the Troubled Company Reporter on Feb. 13, 2007,
the Debtors asked Judge Gropper to further extend, without
prejudice, their exclusive periods to:

   (a) file a plan of reorganization to May 3, 2007; and
   (b) solicit acceptances of that plan to June 29, 2007.

While the Debtors believed that they have made significant
progress in preparing and distributing a draft Chapter 11 Plan
to the Official Committee of Unsecured Creditors, negotiations
are ongoing, Anup Sathy, Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, told Judge Gropper.  The Debtors stressed
that their ability to formulate a Chapter 11 Plan is predicated
upon obtaining a substantial equity investment, possibly
implemented through a rights offering.

As evidence of the their good faith efforts to negotiate the
terms of an equity investment, late in December 2006, the
Debtors obtained the Court's permission to indemnify and pay
fees to certain investment funds managed by Strategic Value
Partners LLC, Wayzata Investment Partners LLC and Stark
Investments pursuant to a Backstop Commitment Letter and
Restructuring Term Sheet, Mr. Sathy noted.  While the Debtors
later withdrew the Term Sheet Motion after receiving a notice of
termination from the Initial Committed Purchasers, the Debtors
continued to evaluate other alternatives.

Moreover, if the Debtors are unable to locate a suitable
investor, the Debtors may consider alternative exit structures
that would be implemented through a Plan, Mr. Sathy said.  The
Debtors have continued to update the Creditors Committee's
advisors regarding these discussions.

Mr. Sathy maintained that the Debtors' Exclusive Periods should
be extended because:

   (a) The Debtors' Chapter 11 cases are large and complex;

   (b) The Debtors have made considerable progress in their
       Chapter 11 cases, are paying their obligations as they
       come due and are effectively managing their business and
       preserving the value of their assets; and

   (c) The Debtors have been actively working with the Creditors
       Committee and other key parties-in-interest to facilitate
       the Debtors' emergence from bankruptcy as soon as
       possible.

Headquartered in Grand Rapids, Michigan, Tower Automotive Inc.
-- http://www.towerautomotive.com/-- is a global designer and      
producer of vehicle structural components and assemblies used by
every major automotive original equipment manufacturer,
including BMW, DaimlerChrysler, Fiat, Ford, GM, Honda,
Hyundai/Kia, Nissan, Toyota, Volkswagen and Volvo.  Products
include body structures and assemblies, lower vehicle frames and
structures, chassis modules and systems, and suspension
components.  The Company and 25 of its debtor-affiliates filed
voluntary chapter 11 petitions on Feb. 2, 2005 (Bankr. S.D.N.Y.
Case No. 05-10576 through 05-10601).  James H.M. Sprayregen,
Esq., Ryan B. Bennett, Esq., Anup Sathy, Esq., Jason D. Horwitz,
Esq., and Ross M. Kwasteniet, Esq., at Kirkland & Ellis, LLP,
represent the Debtors in their restructuring efforts.  Ira S.
Dizengoff, Esq., at Akin Gump Strauss Hauer & Feld LLP,
represents the Official Committee of Unsecured Creditors.  When
the Debtors filed for protection from their creditors, they
listed US$787,948,000 in total assets and US$1,306,949,000 in
total debts.  (Tower Automotive Bankruptcy News, Issue No. 55;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).



U. H. TANKSCHUTZ: Claims Registration Period Ends May 7
-------------------------------------------------------
Creditors of U.H. Tankschutz GmbH have until May 7 to register
their claims with court-appointed insolvency manager Holger
Bluemle.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on July 2, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of 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:

         Holger Bluemle
         Gymnasiumstrasse 1
         70173 Stuttgart
         Germany
         Tel: 0711/782-8162

The District Court of Ludwigsburg opened bankruptcy proceedings
against U.H. Tankschutz GmbH on March 5.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         U.H. Tankschutz GmbH
         Attn: Ulf Hammer, Manager
         Schillerstrasse 60
         70839 Gerlingen
         Germany


WEHRETAL HAUSTECHNIK: Claims Registration Period Ends April 10
--------------------------------------------------------------
Creditors of WH Wehretal Haustechnik GmbH have until April 10 to
register their claims with court-appointed insolvency manager
Jutta Ruedlin.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 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 Eschwege
         Meeting Room 2
         1. Stock
         Friedr. Wilh. Road 39
         37269 Eschwege
         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:

         Jutta Ruedlin
         Am Markt 4
         34212 Melsungen
         Germany
         Tel: 05661/926 28-0
         Fax: 05661/926 28-20

The District Court of Eschwege opened bankruptcy proceedings
against WH Wehretal Haustechnik GmbH on March 5.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         WH Wehretal Haustechnik GmbH
         Landstrasse 86 a
         37287 Wehretal
         Germany

         Attn: Silvia Meusel
         Hoehenweg 8
         37287 Wehretal
         Germany


WULFERT GMBH: Claims Registration Period Ends April 30
------------------------------------------------------
Creditors of Wulfert GmbH have until April 30 to register their
claims with court-appointed insolvency manager Ralph Schmid.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 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 Muenster
         Meeting Hall 13 B
         Gerichtsstr. 2-6
         48149 Muenster
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Ralph Schmid
         Duelmener Str. 92
         48653 Coesfeld
         Germany
         Tel: 02541/915-01
         Fax: 02541-915600


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

The Debtor can be reached at:

  Wulfert GmbH
  Ludwig-Uhland-Str. 18
  59348 Luedinghausen
  Germany

  Attn: Dirk Wulfert
  Wierlings Busch 77
  48249 Duelmen
  Germany


=============
H U N G A R Y
=============


AES CORP: Reaches Out-of-Court Settlement with Dominican Gov't
--------------------------------------------------------------
AES Corp. has reached an out-of-court settlement with the
government of the Dominican Republic by agreeing to pay US$6
million for the industrial waste dumped on the latter's shores.

As reported in the Troubled Company Reporter-Latin America on
Jan. 10, 2007, the Dominican Republic's environmental minister
said that the nation would consider a settlement with AES Corp.
regarding the lawsuit it filed against the firm for allegedly
polluting its shores.  The Dominican Republic sought for US$80
million in damages from AES Corp. for 82,000 tons of coal ash
dumped on its beaches.  The tons of ash were left on the beaches
in Manzanillo and the Samana Bay port town of Arroyo Barril
between October 2003 and March 2004 without proper government
permits.  These tons of ash were transported from an AES Plant
in Guayama, Puerto Rico.  AES Corp. said that it had proper
permits for disposal of the ash and believed that it was not
toxic.  The Dominican nation also sued Roger Charles Fina, the
owner of the firm hired by AES Corp. to transport the ash.  

A hearing on the case had been scheduled March 5 at the
Commonwealth of Virginia Federal Court.

The US$6 million covers compensation for both the Samana and
Manzanillo dumps.

Environment and Natural Resources Minister Max Puig told DR1
Newsletter that the settlement includes legal fees, and will
become available in 10 days.  

The settlement was reduced to US$6 million from US$80 million
because a federal judge didn't allow that the lawsuit be tried
under the "Rico" Statutes on bribery and organized crime.

Dominican officials told the Associated Press that they were
pleased even though the amount was lessened.

AES Corp. spokesperson Robin Pence commented to DR1 Newsletter,
"We agreed to settle the Dominican lawsuit because of our long-
standing business relationship.  We're pleased to have the
matter behind us."

However, several environmental activists believed that US$6
million was an insignificant sum considering the ecological
damage to Semana and Manzanillo.

Environmentalist Amparo Chantada commented to DR1 Newsletter
that the Dominican government had been damaged by the settlement
and that AES Corp. got away with their deal.

Terms of the settlement weren't disclosed.  However, US lawyer
Susan Burke of Burke Pyle LLC told DR1 Newsletter that the
Dominican government would release the terms of the settlement.  

AES Corp. told AP that the Dominican government acknowledged
that the firm didn't commit any wrongdoing as part of the
settlement.

Meanwhile, the coal ash will be burned in cement factories, DR1
Newsletter says, citing Minister Puig.

AES Corporation -- http://www.aes.com/-- is a global power  
company.  The company operates in South America, Europe, Africa,
Asia and the Caribbean countries.  Generating 44,000 megawatts
of electricity through 124 power facilities, the company
delivers electricity through 15 distribution companies.

AES has been in Eastern Europe for nearly ten years, since it
acquired three power plants in Hungary in 1996.  Currently, AES
has two distribution companies in Ukraine, which serve 1.2
million customers and generation plants in the Czech Republic
and Hungary.  AES is also the leading company in biomass
conversion in Hungary, generating 37% of the nation's total
renewable generation in 2004.

                        *     *     *

Fitch affirmed The AES Corporation's Issuer Default Rating at
'B+'. Fitch also affirmed and withdrew the ratings for the
company's junior convertible debt.  Fitch said the rating
outlook for all remaining instruments is stable.

In March, Standard & Poor's Ratings Services raised its
corporate credit rating on diversified energy company The AES
Corp. to 'BB-' from 'B+'.  S&P said the outlook is stable.

Moody's affirmed the ratings of The AES Corporation, including
its Ba3 Corporate Family Rating and the B1 rating on its senior
unsecured debt.  Moody's said the rating outlook remains stable.


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


ARDAGH GLASS: Moody's May Cut Low-B & Junk Ratings After Review
---------------------------------------------------------------
Moody's placed these ratings under review for possible downgrade
after the acquisition of Rexam Plc's (rated Baa3 / stable
outlook) glass division - 13 plants located in Denmark, Germany,
Poland, Holland and Sweden - for a total consideration of EUR660
million /GBP449 million:

   -- B3 Corporate Family Rating of Ardagh Glass Group Plc;

   -- Caa2 rating for the EUR175-million Senior Notes due 2013
      at Ardagh Glass Finance B.V.; and

   -- Caa3 rating for the EUR126.25-million Senior PIK Notes due
      2015 at Ardagh Glass Group Plc.

The acquisition is expected to be largely debt-funded which will
double Ardagh's expected on balance sheet debt in excess of
GBP400-million at FYE 2006.

Moody's said that the decision to place Ardagh's B3 CFR under
review for possible downgrade reflects the transformational
character of this acquisition for Ardagh, significantly
increasing leverage as well as challenging management to
integrate an operation of this size, as 13 plants will be added
to the existing 9 of Ardagh.

On the other hand Moody's notes the strategic rationale and
potential long-term benefit of this acquisition as it reduces
Ardagh's dependence on its core U.K. market where the company
has incurred sizable losses in the recent past.  Moody's also
notes that the transaction will allow Ardagh to consolidate its
German and Polish activities.  However it is still subject to
approval from competition authorities in those countries.  
Already in 2005, Rexam had sold its U.K. glass operations to
Ardagh.

The review will focus on:

   (i) the enlarged group's ability to achieve a financial
       profile in line with a B rating, notably creating a
       leverage profile of around 5.0x Debt/EBITDA, as well as

  (ii) management's ability to manage an increased operation of
       this scale and

(iii) Ardagh's operating performance going forward in view of
       the continuing competitive challenge in its U.K.
       operations.

On Review for Possible Downgrade:

   * Ardagh Glass Finance B.V.

     -- Senior Subordinated Regular Bond/Debenture, Placed on
        Review for Possible Downgrade, currently Caa2

   * Ardagh Glass Group PLC

     -- Corporate Family Rating, Placed on Review for Possible
        Downgrade, currently B3

     -- Senior Unsecured Regular Bond/Debenture, Placed on  
        Review for Possible Downgrade, currently Caa3

Outlook Actions:

   * Ardagh Glass Finance B.V.

     -- Outlook, Changed To Rating Under Review From Negative

   * Ardagh Glass Group PLC

     -- Outlook, Changed To Rating Under Review From Negative

Ardagh Glass Group Plc, registered in Ireland, is a leading
supplier of glass containers by volume in the U.K. through its
subsidiaries, Rockware Glass Ltd., which Ardagh plc purchased
from Owens-Illinois in March 1999, and Redfearn Glass Ltd.,
which Ardagh purchased from Rexam Plc in May 2005.  It also
operates glass container manufacturing facilities in Germany,
Poland and Italy.  Ardagh had EUR556-million of sales in FY
2005.


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


ALITALIA SPA: Board Opts to Sell Casale Somaini Complex
-------------------------------------------------------
The Board of Directors of Alitalia S.p.A., chaired by Berardino
Libonati, examined the 2007 budget and the forecast for the
first four months of the year, taking note of the improvement in
business activities compared to the previous year.

In addition, the board confirmed the appointment of the two
Coordinators decided at the previous meeting, establishing their
respective areas of responsibility, and it also gave the
auditing, legal and human resources departments the direct
reporting to the Board.

Having frozen the main extraordinary operations for the time
being -- in view of the Sales Procedure already underway -- the
Board has decided to implement only one of the operations to
dispose non-strategic assets, which is the sale of the real
estate complex known as Casale Somaini.

Against this background, the forecast traffic revenues for the
current year should amount to about EUR4.7 million leading to an
improvement in the EBITDAR, which should reach approximately
eight percent.

At the next Board meeting, the calendar of the main Company
events for the year will be reviewed.

                         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.


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


AGROSPETSSTROY & K: Creditors Must File Claims by April 13
----------------------------------------------------------
LLP Agrospetsstroy & K has declared insolvency.  Creditors have
until April 13 to submit written proofs of claim to:

         LLP Agrospetsstroy & K
         Mambetov Str. 5-89
         Shymkent
         South Kazakhstan
         Kazakhstan


AMM-INTERNATIONAL LLP: Creditors' Claims Due April 13
-----------------------------------------------------
LLP Amm-International has declared insolvency.  Creditors have
until April 13 to submit written proofs of claim to:

         LLP Amm-International
         Bogenabi batyr Str. 156a
         Almaty
         Kazakhstan


AZAT LLP: Proof of Claim Deadline Slated for April 13
-----------------------------------------------------
LLP Transagency Azat has declared insolvency.  Creditors have
until April 13 to submit written proofs of claim to:

         LLP Transagency Azat
         Shevchenko Str. 3
         Kostanai
         Kazakstan


BLACK LLP: Claims Registration Ends April 20
--------------------------------------------
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Black insolvent.

Creditors have until April 20 to submit written proofs of claim
to:

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


COMPANY GRAND: Claims Filing Period Ends April 13
-------------------------------------------------
LLP Company Grand has declared insolvency.  Creditors have until
April 13 to submit written proofs of claim to:

         LLP Company Grand
         Tolebi Str. 35
         Almaty
         Kazakhstan


JSC-INTERFRAHT LLP: Creditors Must File Claims by April 20
----------------------------------------------------------
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Jsc-Interfraht insolvent.

Creditors have until April 20 to submit written proofs of claim
to:

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


KUR-MASH LLP: Creditors' Claims Due April 20
--------------------------------------------
The Specialized Inter-Regional Economic Court of Mangistau has
declared LLP Kur-Mash insolvent.

Creditors have until April 20 to submit written proofs of claim
to:

         Building of Former Kindergarten #51
         Micro District 27
         Aktau
         Mangistau
         Kazakhstan


OPINN TEX: Proof of Claim Deadline Slated for April 6
-----------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda has
declared LLP Opinn Tex insolvent.

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

         The Specialized Inter-Regional
         Economic Court of Karaganda
         Karaganda Jambyl Str. 9
         Karaganda
         Kazakhstan


TERMINAL-77 LLP: Claims Registration Ends April 13
--------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region has declared LLP Terminal-77 insolvent.

Creditors have until April 13 to submit written proofs of claim
to:

         The Specialized Inter-Regional
         Economic Court of South Kazakhstan Region
         Ilyaev Str. 24
         Shymkent
         South Kazakhstan Region
         Kazakhstan
         Tel: 8 701 720 54-32


USTEKO KS: Claims Filing Period Ends April 6
--------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda has
declared LLP Usteko Ks insolvent.  

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

         The Specialized Inter-Regional
         Economic Court of Karaganda
         Karaganda Jambyl Str. 9
         Karaganda
         Kazakhstan


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


KUTMAN-TOUR LLC: Creditors Must File Claims by April 20
-------------------------------------------------------
LLC Kutman-Tour has declared insolvency.  Creditors have until
April 20 to submit written proofs of claim to:

         LLC Kutman-Tour
         Aitiev Str. 21
         Karasuu
         Osh Region
         Kyrgyzstan


VERTON LLC: Claims Filing Period Ends April 20
----------------------------------------------
LLC Verton has declared insolvency.  Creditors have until
April 20 to submit written proofs of claim to:

         LLC Verton
         Chui Ave. 2
         Bishkek
         Kyrgyzstan
         Tel: (+996 312) 68-13-38


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


ABSOLUT FINANCE: Fitch Puts B/RR4 Rating to Upcoming Bond Issue
---------------------------------------------------------------
Fitch Ratings affirmed Russia-based Absolut Bank's ratings at
Issuer Default 'B', Short-term 'B', Individual 'D', Support '5'
and National Long-term rating 'BBB'.  The Outlooks on the Issuer
Default rating and National Long-term rating remain Stable.

Fitch has also assigned Absolut Finance S.A.'s upcoming eurobond
issue an expected Long-term 'B' rating and an expected Recovery
Rating 'RR4'.  The notes are to be used solely for financing a
loan to Absolut.  The final ratings are contingent on the
receipt of final documents conforming to information already
received.

The ratings of Absolut reflect the risks associated with its
very rapid growth and geographical expansion; high concentration
by borrower and on Moscow's real estate and construction
sectors; and certain weaknesses in the operating environment.  
However, they also take into account the bank's sound
performance to date, good asset quality, and niche franchises in
trade finance and mortgages.

"Successful further diversification into new products and
regions leading to dilution of concentration in the loan book by
borrowers and sectors could put upward pressure on the ratings,"
notes Alexei Kechko, Associate Director of Fitch's Financial
Institutions Group in Moscow.  "But failure to manage the risks
of very rapid growth or default of some of the larger borrowers
could result in ratings downside."

Absolut Finance S.A., a Luxembourg-domiciled special purpose
vehicle, will only pay noteholders principal and interest, if
any, received from Absolut under the loan agreement.

The terms and conditions of the notes specify that they will
rank at least pari passu with the claims of other unsecured
creditors of Absolut, save those preferred by relevant laws.  
Under Russian law, the claims of retail depositors rank above
those of other senior unsecured creditors.  At end-2006, retail
deposits accounted for 11% of Absolut's total liabilities,
according to the bank's audited IFRS financial statements.

Covenants prevent Absolut from entering into mergers, oblige the
bank to maintain Tier 1 and total capital ratios of at least 8%
and 12%, respectively, as calculated in accordance with the
Basel Committee's recommendations, and cap the exposure to a
single borrower at 25% of equity.

The terms and conditions of the notes also contain a cross
default clause and a negative pledge clause, the latter of which
allows for a degree of securitization by Absolut.  Should any
securitization be undertaken, Fitch comments that the nature and
extent of any overcollateralization would be assessed by the
agency for any potential impact on unsecured creditors.

Absolut is 92%-controlled by five Moscow-based businessmen, with
the IFC holding a 7.5% stake.  It is a medium-sized Russian
bank.  Absolut's operations are still concentrated in Moscow,
although its expansion into the regions is underway.  Corporate
lending constitutes its core business, but the bank is also
building up its retail banking operations, including mortgages
and car loans.


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


ABN AMRO: Moody's Lifts Rating to Ba1 on iBoxx 50 Notes
-------------------------------------------------------
Moody's Investors Service upgrades the iBoxx 50 Series 1 EUR750-
million Credit-Linked Notes due 2007 issued by ABN Amro Bank
N.V. from Ba3 to Ba1.

Moody's Investors Service has amended the rating action dated
Feb. 7 with respect to the iBoxx 50 Series 1 EUR750-million
Credit-Linked Notes due 2007, under which Moody's downgraded the
Notes to Ba3 from Baa3.  This downgrade to Ba3 was overstated
due to the recognition of a loss associated with Parmalat, a
reference entity that was originally included in the portfolio,
whereas Moody's practice on untranched index positions is that
upon the occurrence of a credit event with respect to a
reference entity, the entity is removed from the portfolio, and
the rating is based solely on the average credit quality of the
remaining reference entities.  Moody's has upgraded the rating
of the iBoxx 50 Series 1 Notes to Ba1 to correctly reflect the
risk of the remaining portfolio only.


CNH GLOBAL: Moody's Affirms Ba3 Rating on Improved Operation
------------------------------------------------------------
Moody's Investors Service affirmed the Ba3 rating of CNH Global
N.V. and changed the outlook to stable from negative.

These rating actions recognize the progress the company has made
in reestablishing a more globally competitive business position,
and in strengthening its return and credit metrics.  Moody's
anticipates that during 2007 the company will continue to
improve its operating efficiencies, and will benefit from the
more coordinated brand positioning of its Case and New Holland
lines of agricultural and construction equipment.

The rating agency also expects that overall demand levels in the
global market for farm and construction equipment will remain
near the healthy levels exhibited during 2006.  These solid
demand characteristics, in combination with improving operating
efficiencies, should enable CNH to generate further improvement
in key credit metrics.  As these metrics continue to improve,
CNH will also benefit from the relationship with its parent,
Fiat S.p.A., which owns 90% of the company.  During February,
Fiat's debt rating was raised to Ba2 with a positive outlook
from Ba3, and the company maintains strong liquidity.  Moody's
believes that the strengthened credit profile of Fiat, combined
with the considerable strategic and financial ties between the
two companies, afford a degree of lift to the CNH rating.  This
relationship helps to mitigate the fact that CNHs' credit
metrics, although improving, remain weak for the Ba3 level.

"CNH is beginning to harvest the long-awaited benefits of the
merger of the Case and New-Holland operations," Bruce Clark of
Moody's said.  "Excess capacity has largely been eliminated,
efforts to improve asset utilization are continuing, and the
product development and marketing initiatives of the Case and
New-Holland brands are being managed in a more efficient
manner." Clark went on to say, "Although many of CNH's key
metrics remain weak for the Ba3 rating, the company's credit
profile will become more supportive of the current rating if it
continues to effectively execute the operating and marketing
initiatives it has put in place."

CNH's credit metrics have risen gradually, but steadily, from
the very weak levels generated during 2003.  The progression of
key ratios from 2003 to 2006 has included: EBIT margin from 1.2%
to 4.2%; EBIT/Interest from 0.3x to 1.3x; debt/EBITDA from 16x
to 5.7x; and retained cash flow to debt from negative 1.8% to
positive 11.3%.  Notwithstanding this progress, Moody's believes
that these metrics will need to show further improvement if CNH
is to solidify its position at the Ba3 rating level and narrow
the competitive gap relative its key global competitors.  An
important step in addressing this competitive gap has been CNH's
ability to stem its loss of market share in important product
and geographic segments.

The key long-term risk confronting CNH remains the cyclicality
of its markets.  Although Moody's expects demand levels to
remain healthy during 2007, it will be critical for the company
to capitalize on this favorable demand period by continuing to
solidify its competitive position.  Failing to further
strengthen its operating fundamentals and competitive position
during this up-phase of the cycle could compromise the company's
ability to adequately contend with an eventual downturn.

Moody's believes that CNH's large financial services operation
(with a managed asset portfolio of approximately US$15 billion)
is an important contributor to the company's competitive
position and its credit profile. Within the context of the Ba3
rating, these financial service operations have appropriate
asset quality and capitalization characteristics -- debt/equity
approximates 7.6:1; EBIT/interest is almost 2 times; and past
due and charge-off levels reflect reasonable underwriting
standards.

Moody's also believes that the liquidity position of CNH's fully
consolidated operations is adequate to cover all debt
obligations coming due during the coming twelve months.  These
maturing obligations approximate US$2.3 billion.  Key sources of
liquidity include: US$1.2 billion in cash and equivalents; about
US$500 million in deposits with Fiat S.p.A.; and approximately
US$400 million in committed credit lines that are shared with
Fiat.  In addition, about US$438 million of the US$2.3 billion
in CNH obligations that mature during the next twelve months are
due to Fiat.

Moody's expects that the maturity of these obligations would
likely be extended if needed.  Given the improving credit
profile of Fiat and the strategic importance of CNH to its
parent, Moody's believes that the CNH liquidity sources that are
tied to Fiat represent a reliable source of funds.  Moody's also
notes that CNH's financial service operations have a proven
ability to access the secuitization markets.

CNH Global N.V., headquartered in the Netherlands, is a leading
global producer of agricultural and construction equipment.


GROSVENOR PLACE: Moody's Assigns Ba3 Ratings on EUR18-Mln Notes
---------------------------------------------------------------
Moody's assigned long term credit ratings to twelve classes of
notes issued by Grosvenor Place CLO II B.V., a special purpose
company incorporated under the laws of The Netherlands.  The
ratings are:

   -- EUR128-million Class A-1a Senior Floating Rate Notes due
      2023: Aaa;

   -- EUR32-million Class A-1b Senior Floating Rate Notes due
      2023: Aaa;

   -- GBP24.3-million Class A-2 Senior Floating Rate Notes due
      2023: Aaa;

   -- EUR80-million Class A-3a Senior Revolving Floating Rate
      Notes due 2023: Aaa;

   -- EUR4-million Class A-3b Senior Floating Rate Notes due   
      2023: Aa1;

   -- EUR10-million Class A-4 Senior Secured Zero Coupon
      Accreting Notes due 2023: Aaa;

   -- EUR33.5-million Class B Senior Floating Rate Notes due
      2023: Aa2;

   -- EUR22-million Class C Deferrable Interest Floating Rate
      Notes, due 2023: A2;

   -- EUR25-million Class D Deferrable Interest Floating Rate
      Notes due 2023: Baa3;

   -- EUR14-million Class E Deferrable Interest Floating Rate
      Notes due 2023: Ba3;

   -- EUR4-million Class Q Combination Notes due 2023: Ba3; and

   -- EUR10-million Class R Combination Notes due 2023: Baa2.

EUR40.37-million Subordinated Notes due 2023 have also been
issued, but those notes are not rated by Moody's.

The ratings address the expected loss posed to investors by the
legal final maturity (March 28, 2023).

In respect of the Combination Notes rated by Moody's, the
ratings address the expected loss posed to investors by the
legal final maturity (March 28, 2023) as a proportion of the
Rated Balance, where the Rated Balance is equal, at any time, to
the principal amount of such class of Combination Notes on the
closing date minus the aggregate of all payments made from the
closing date until such date, either through interest or
principal payments.

These final ratings are based upon:

   1. an assessment of the eligibility criteria and portfolio
      guidelines applicable to the future additions to the
      portfolio;

   2. the protection against losses through the subordination of
      the more junior classes of notes to the more senior
      classes of notes;

   3. the overcollateralization of the notes;

   4. the analysis of the foreign currency exchange risk
      involved in the transaction;

   5. the expertise of CQS Cayman Ltd. Partnership and CQS   
      (U.K.) LLP as collateral managers; and

   6. the legal and structural integrity of the issue.

This transaction is a high yield collateralized loan obligation
related to a collateral portfolio of approximately EUR409.4-
million comprised primarily of European senior secured debt
obligations, second lien loans and mezzanine obligations (with a
predominance of senior secured loans).  This portfolio is
dynamically managed by CQS Cayman Ltd. Partnership and CQS
(U.K.) LLP.  This portfolio has been partially acquired at
closing date and will be partially acquired during the fourteen
months ramp-up period in compliance with portfolio.  Thereafter,
the portfolio of loans will be actively managed pursuant to the
advice of the collateral manager and collateral sub-manager to
buy or sell assets in the portfolio.  Any addition or removal of
assets will be subject to a number of portfolio criteria.

The transaction was arranged by Lehman Brothers International
(Europe) and Lehman Brothers Incorporated.


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


ABSOLUT BANK: Fitch Affirms B IDR on Growth & Expansion Risks
-------------------------------------------------------------
Fitch Ratings affirmed Russia-based Absolut Bank's ratings at
Issuer Default 'B', Short-term 'B', Individual 'D', Support '5'
and National Long-term rating 'BBB'.  The Outlooks on the Issuer
Default rating and National Long-term rating remain Stable.

Fitch has also assigned Absolut Finance S.A.'s upcoming eurobond
issue an expected Long-term 'B' rating and an expected Recovery
Rating 'RR4'.  The notes are to be used solely for financing a
loan to Absolut.  The final ratings are contingent on the
receipt of final documents conforming to information already
received.

The ratings of Absolut reflect the risks associated with its
very rapid growth and geographical expansion; high concentration
by borrower and on Moscow's real estate and construction
sectors; and certain weaknesses in the operating environment.  
However, they also take into account the bank's sound
performance to date, good asset quality, and niche franchises in
trade finance and mortgages.

"Successful further diversification into new products and
regions leading to dilution of concentration in the loan book by
borrowers and sectors could put upward pressure on the ratings,"
notes Alexei Kechko, Associate Director of Fitch's Financial
Institutions Group in Moscow.  "But failure to manage the risks
of very rapid growth or default of some of the larger borrowers
could result in ratings downside."

Absolut Finance S.A., a Luxembourg-domiciled special purpose
vehicle, will only pay noteholders principal and interest, if
any, received from Absolut under the loan agreement.

The terms and conditions of the notes specify that they will
rank at least pari passu with the claims of other unsecured
creditors of Absolut, save those preferred by relevant laws.  
Under Russian law, the claims of retail depositors rank above
those of other senior unsecured creditors.  At end-2006, retail
deposits accounted for 11% of Absolut's total liabilities,
according to the bank's audited IFRS financial statements.

Covenants prevent Absolut from entering into mergers, oblige the
bank to maintain Tier 1 and total capital ratios of at least 8%
and 12%, respectively, as calculated in accordance with the
Basel Committee's recommendations, and cap the exposure to a
single borrower at 25% of equity.

The terms and conditions of the notes also contain a cross
default clause and a negative pledge clause, the latter of which
allows for a degree of securitization by Absolut.  Should any
securitization be undertaken, Fitch comments that the nature and
extent of any overcollateralization would be assessed by the
agency for any potential impact on unsecured creditors.

Absolut is 92%-controlled by five Moscow-based businessmen, with
the IFC holding a 7.5% stake.  It is a medium-sized Russian
bank.  Absolut's operations are still concentrated in Moscow,
although its expansion into the regions is underway.  Corporate
lending constitutes its core business, but the bank is also
building up its retail banking operations, including mortgages
and car loans.


AGRYZSKAYA MTS: Tatarstan Bankruptcy Hearing Slated for July 19
---------------------------------------------------------------
The Arbitration Court of Tatarstan will convene at 1:00 p.m. on
July 19 to hear the bankruptcy supervision procedure on OJSC
Agryzskaya Mts.  The case is docketed under Case No. A65-178/
2007-SG4-27.

The Temporary Insolvency Manager is:

         F. Safin
         Akademicheskaya Str. 2-212
         Kazan
         420097 Tatarstan
         Russia

The Court is located at:

         The Arbitration Court of Tatarstan
         Floor 2
         Room 12
         Entrance 2, Building 1
         Kremlin
         Kazan
         Tatarstan
         Russia

The Debtor can be reached at:

         OJSC Agryzskaya Mts
         Tersi
         Agryzskiy
         Tatarstan
         Russia


BAREN-GROUP LLC: Bankruptcy Hearing Slated for April 17
-------------------------------------------------------
The Arbitration Court of Tatarstan will convene at 9:00 a.m. on
April 17 to hear the bankruptcy supervision procedure on LLC
Baren-Group.  The case is docketed under Case No. A65-25601/
2006-SG4-49.

The Temporary Insolvency Manager is:

         V. Ryltsev
         Post User Box 16
         Kazan
         420073 Tatarstan
         Russia

The Court is located at:

         The Arbitration Court of Tatarstan
         Floor 2, Room 12
         Entrance 2, Building 1
         Kremlin
         Kazan
         Tatarstan
         Russia

The Debtor can be reached at:

         LLC Baren-Group
         Akhtyamova Str. 1
         Kazan
         420021 Tatarstan
         Russia


DIARY KOVALEVSKIY: Creditors Must File Claims by April 17
---------------------------------------------------------
Creditors of LLC Diary Kovalevskiy (TIN 5515010270) have until
April 17 to submit proofs of claim to:

         V. Atroshenko, Insolvency Manager
         Volochaevskaya Str. 19D
         644034 Omsk
         Russia

The Arbitration Court of Omsk commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A46-10090/2006.

The Debtor can be reached at:

         LLC Diary Kovalevskiy
         Kovalevo
         Kalachinskiy
         Omsk
         Russia


EUROCHEM MINERAL: To Issue US$300-Mln Bonds to Fund Expansion
-------------------------------------------------------------
OJSC EuroChem Mineral and Chemical Co. will sell US$300 million
in bonds to foreign investors to finance the company's expansion
and development plans, Bloomberg News reports citing bankers
privy to the transaction.

EuroChem intends to invest US$1.5 billion over the next five
years to develop the Gremyachenskoye potash field.  It also
plans to upgrade its fleet of rail cars and its other
businesses.

Citigroup Inc., UBS AG and ING Groep N.V. serve as the deal's
sale managers.

EuroChem is offering a higher yield than other local commodity
producers with similar ratings due to concerns over rising gas
prices, Bloomberg News notes citing the bonds' prospectus.  

"The pricing is very generous for investors," Alexei Boulgakov
of Aton Capital Group said.  "There will be good demand for the
bonds as the company has good cash flows and little debt."

Eurochem's profit dipped 21% for the first nine months of 2006
to US$190 million due to higher prices for electricity and
natural gas, which account for 70% of the firm's costs.

Bloomberg News suggests that Eurochem's profit margin may
further decline on Russia's plans to keep increasing domestic
fuel prices in accordance with WTO demands.

                         About EuroChem

Headquartered in Moscow, Russia, OJSC EuroChem Mineral and
Chemical Company -- http://www.eurochem.ru/-- engages in raw  
materials extraction, and production of fertilizers, organics,
feed phosphates in Russia and abroad.

                          *     *     *

Fitch Ratings assigned Russia-based OJSC EuroChem Mineral and
Chemical Company an Issuer Default 'BB-' (BB minus) rating and a
Short-term 'B' rating.  The Outlook on the Issuer Default rating
is Stable.


FINANCIAL COMPANY: Court Names M. Kuvshinova to Manage Assets
-------------------------------------------------------------
The Arbitration Court Krasnodar appointed Ms. M. Kuvshinova as
Insolvency Manager for CJSC Financial Company.  She can be
reached at:

         M. Kuvshinova
         Rakhmaninova Str. 1
         Penza
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent. The case is docketed under Case No.
A-32-21247/2006-44/2001 B.

The Court is located at:

         The Arbitration Court of Krasnodar  
         Staroderevenkovskaya St.
         Krasnodar  
         Russia

The Debtor can be reached at:

         M. Kuvshinova
         Rakhmaninova Str. 1
         Penza
         Russia


KARAKULSKOYE CJSC: Creditors Must File Claims by April 17
---------------------------------------------------------
Creditors of CJSC Karakulskoye (TIN 743700558) have until
April 17 to submit proofs of claim to:

         V. Gilmanov, Insolvency Manager
         Kirova Str. 118
         456091 Chelyabinsk
         Russia

The Arbitration Court of Chelyabinsk commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A76-20218/2006-52-186.

The Court is located at:

         The Arbitration Court of Chelyabinsk  
         Vorovskogo Str. 2
         454091 Chelyabinsk  
         Russia

The Debtor can be reached at:

         CJSC Karakulskoye
         Karaulskoye
         Oktyabrskiy
         457174 Chelyabinsk
         Russia


KORKINSKOYE AUTO-TRANSPORT: Bankruptcy Hearing Slated for May 31
----------------------------------------------------------------
The Arbitration Court of Chelyabinsk will convene at 2:30 p.m.
on May 31 to hear the bankruptcy supervision procedure on CJSC
Korkinskoye Auto-Transport Enterprise.  The case is docketed
under Case No. A76-32296/2006-60-138.

The Temporary Insolvency Manager is:

         S. Sergeev
         Office 407
         Lenina Pr. 89
         454080 Chelyabinsk
         Russia

The Court is located at:

         The Arbitration Court of Chelyabinsk  
         Vorovskogo Str. 2
         454091 Chelyabinsk  
         Russia

The Debtor can be reached at:

         CJSC Korkinskoye Auto-Transport Enterprise
         30 Let VLKSM Str. 126 A
         Korkino
         456550 Chelyabinsk
         Russia


KUDYMKARSKIY REPAIR-MECHANICAL: Claims Filing Due by April 17
-------------------------------------------------------------
Creditors of OJSC Kudymkarskiy Repair-Mechanical Factory have
until April 17 to submit proofs of claim to:

         V. Plashkin, Insolvency Manager
         Office 2
         Svobody Str. 58
         Kudymkar
         619000 Perm
         Russia

The Arbitration Court of Komi-Permyatskiy commenced bankruptcy
proceedings against the company after finding it insolvent. The
case is docketed under Case No. A30-2/2007.

The Court is located at:

         The Arbitration Court of Komi-Permyatskiy  
         M. Gorkogo Str. 24
         Kudymkar  
         619000 Komi-Permyatskiy  
         Russia

The Debtor can be reached at:

         OJSC Kudymkarskiy Repair-Mechanical Factory
         M. Gorkogo Str. 38
         Kudymkar
         619000 Perm
         Russia


KUBANSKAYA OJSC: Creditors Must File Claims by April 17
-------------------------------------------------------
Creditors of OJSC Factory Stable Kubanskaya have until April 17
to submit proofs of claim to:

         V. Kozmin, Insolvency Manager
         Letter K
         Tovarnaya Str. 7
         350063 Krasnodar
         Russia

The Arbitration Court of Krasnodar commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A-32-16167/2006-1/935-B.

The Court is located at:

         The Arbitration Court of Krasnodar  
         Staroderevenkovskaya St.
         Krasnodar  
         Russia

The Debtor can be reached at:

         OJSC Factory Stable Kubanskaya
         Kubanskaya Str. 5
         Semenovskiy
         Ust-Labinskiy
         352315 Krasnodar
         Russia


KURNOSOVSKOYE CJSC: Omsk Court Starts Bankruptcy Supervision
------------------------------------------------------------
The Arbitration Court of Omsk commenced bankruptcy supervision
procedure on CJSC Kurnosovskoye.  The case is docketed under
Case No. A46-20768/2006.

The Temporary Insolvency Manager is:

         V. Khmelnitskiy
         Marksa Pr. 4-209A
         644024 Omsk-24
         Russia

The Debtor can be reached at:

         CJSC Kurnosovskoye
         Bolsherechenskiy
         Omsk
         Russia


LUKOIL OAO: Damaged Refinery Unit Back to Full Capacity by May 1
----------------------------------------------------------------
OAO Lukoil has put in place a schedule to bring back its
Volgograd refinery to its full capacity after a fire broke out
on March 10.

The schedule suggests that OOO Lukoil-Volgogradneftepererabotka
ELOU-AVT-6 Unit will be operating in accordance with its planned
performance indicators by May 1, 2007.

According to Vladimir Nekrasov, OAO Lukoil First Vice President,
equipment decompression could have caused the fire incident,
which led to immediate combustion of the petroleum products.  
There were no casualties were reported nor environmental
concerns raised.  Damages will be fully indemnified by insurance
companies.

                         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.


OMSK-TYRE-KHABAROVSK: Court Starts Bankruptcy Supervision
---------------------------------------------------------
The Arbitration Court of Khabarovsk commenced bankruptcy
supervision procedure on LLC Omsk-Tyre-Khabarovsk (TIN
2721075567).  The case is docketed under Case No. A73-14612/
2006-39.

The Temporary Insolvency Manager is:

         A. Krylov
         Office 9
         Amurskiy Avenue 11
         680028 Khabarovsk
         Russia

The Debtor can be reached at:

         LLC Omsk-Tyre-Khabarovsk
         Komsomolskaya Str. 30-1
         Khabarovsk
         Russia


OMSK-WOOD-PROM OJSC: Creditors Must File Claims by April 17
-----------------------------------------------------------
Creditors of OJSC Omsk-Wood-Prom have until April 17 to submit
proofs of claim to:

         Y. Kushenko, Insolvency Manager
         Post User Box 9271
         644029 Omsk-29
         Russia

The Arbitration Court of Omsk commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A46-10294/2006.

The Debtor can be reached at:

         OJSC Omsk-Wood-Prom
         Ordzhonikidze Str. 48
         644099 Omsk
         Russia


ORENBURG-AUTO-TRANS: Creditors Must File Claims by April 17
-----------------------------------------------------------
Creditors of OJSC Transport Company Orenburg-Auto-Trans have
until April 17 to submit proofs of claim to:

         N. Ershov, Insolvency Manager
         Post User Box 1914
         443052 Samara
         Russia

The Arbitration Court of Orenburg commenced bankruptcy
proceedings against the company after finding it insolvent. The
hearing in the Court will convene on Feb. 7, 2008.  The case is
docketed under Case No. A47-3689/2006-14GK.

The Court is located at:

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

The Debtor can be reached at:

         OJSC Transport Company Orenburg-Auto-Trans
         Matrosskiy Per. 12
         460000 Orenburg
         Russia


PARUSNOVSKIY WOODWORKING: Court Names Y. Sednev to Manage Assets
----------------------------------------------------------------
The Arbitration Court of Sakhalin appointed Mr. Y. Sednev as
Insolvency Manager for LLC Parusnovskiy Woodworking Factory (TIN
6516007160, OGRN 1026501021986).  He can be reached at:

         Y. Sednev
         Apartment 33
         Pobedy Str. 2
         Kholmsk
         694620 Sakhalin
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The hearing in the Court will
convene on April 21.  The case is docketed under Case No.
A59-1301/06-S16.

The Court is located at:

         The Arbitration Court of Sakhalin
         Kommunisticheskiy Pr. 24
         693020 Yuzhno-Sakhalinsk  
         Russia

The Debtor can be reached at:

         LLC Parusnovskiy Woodworking Factory
         Tsentralnaya Str. 1
         Parusnoye
         Tomarinskiy
         694851 Sakhalin
         Russia


SERVICE-SEVER-TRANS: Creditors Must File Claims by April 17
-----------------------------------------------------------
Creditors of CJSC Service-Sever-Trans have until April 17 to
submit proofs of claim to:

         A. Bespechnyj, Insolvency Manager
         Office 31
         Kirova Str. 36
         Tomsk
         Russia

The Arbitration Court of Tomsk commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A67-9712/06.

The Debtor can be reached at:

         CJSC Service-Sever-Trans
         Stroiteley Str. 59-3
         Strezhevoy, Tomsk
         Russia


STROY-MONTAZH CJSC: Court Names M. Kuvshinova to Manage Assets
--------------------------------------------------------------
The Arbitration Court of Krasnodar appointed Ms. M. Kuvshinova
as Insolvency Manager for CJSC Stroy-Montazh.  She can be
reached at:

         M. Kuvshinova
         Rakhmaninova Str. 1
         Penza
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent. The case is docketed under Case No.
A-32-21401/2006-38/1741-B.

The Court is located at:

         The Arbitration Court of Krasnodar  
         Staroderevenkovskaya St.
         Krasnodar  
         Russia

The Debtor can be reached at:

         CJSC Stroy-Montazh
         Rakhmaninova Str. 1
         Penza
         Russia


USEC INC: Earns US$106.2 Million in Full Year 2006
--------------------------------------------------
Usec Inc. reported that for the year ended Dec. 31, 2006, it
generated a net income of US$106.2 million, an increase from a
net income of US$22.3 million for the year ended Dec. 31, 2005.  
The company reported total revenues totaling US$1.84 billion in
2006, compared with US$1.55 billion in 2005.

Total costs of sales were US$1.51 billion and US$1.32 billion
for the years 2006 and 2005, respectively.  Interest expenses
were US$14.5 million and US$40 million for the years 2006 and
2005, respectively.

Balance sheet as of Dec. 31, 2006, listed US$1.86 billion in
total assets and US$875 million in total liabilities, resulting
to US$986 million in total stockholders' equity.

As of Dec. 31, 2006, the company held US$171.4 million in cash
and cash equivalents and zero restricted short-term investments,
as compared with US$259.1 million in cash and cash equivalents
and US$17.8 million in restricted short-term investments in the
prior year.

               Liquidity and Short-term Liabilities

Overall, the company has generated positive cash flows from
operating activities ranging from US$52.6 million to
US$278.1 million over the past three years.  The company
provided for additional liquidity through its cash balances,
working capital and access to our bank credit facility.

In January 2006, the company repaid the remaining balance of the
6.625% senior notes amount of US$288.8 million on the scheduled
maturity date.  This payment was accomplished through a
combination of the use of cash on hand and utilization of the
bank credit facility.  During 2005 and 2004, the company
repurchased US$36.2 million and US$25 million, respectively, of
the 6.625% senior notes.

There were no short-term borrowings at Dec. 31, 2006, or 2005.  
At Dec. 31, 2005, current portion of long-term debt consisted of
the remaining balance of US$288.8 million of 6.625% senior notes
due Jan. 20, 2006, which were paid in full at maturity.

A full-text copy of the company's annual report is available for
free at http://ResearchArchives.com/t/s?1b33

                    Outlook for Year 2007

Revenue in 2007 is expected to be around US$1.86 billion, with
US$1.54 billion coming from the sale of separate work units.  

The company expects the volume of SWU sold to increase by
approximately 10 percent over 2006 and the average price billed
to customers will increase by 4 to 5 percent.

Uranium is expected to generate approximately US$135 million in
revenue as the volume of uranium delivered declines by about
half compared to 2006.

Uranium and SWU revenues include previously deferred revenue
that is expected to be recognized during the year as deliveries
of low enriched uranium are made to customers.

Revenue from U.S. government contracts and other is expected to
total about US$185 million, down slightly from 2006.

                       About USEC, Inc.

Headquartered in Bethesda, Maryland, USEC, Inc. (NYSE: USU) --
http://www.usec.com/-- is a global supplier of low enriched  
uranium to nuclear power plants and is the exclusive executive
agent for the U.S. Government under the Megatons to Megawatts
program with Russia.  

                        *     *     *

As reported in the Troubled Company Reporter on Feb. 19, 2007,
Moody's Investors Service placed its ratings on USEC, Inc.,
including its B1 corporate family rating, under review for
possible downgrade.


VIMPEL-COMMUNICATIONS: Altimo Telecoms Hikes Stake to 38.4%
-----------------------------------------------------------
Altimo Telecoms has increased its stake in OJSC Vimpel-
Communications from 32.9% to 38.4%, RIA Novosti reports.

Altimo hiked its voting stake by acquiring 1,493,400 American
Depositary Receipts from Deutsche Bank.  Altimo expects to close
the transaction today.

Altimo is a leading private equity group, which is used by Alfa
Group as its exclusive vehicle for making investment into
telecommunications assets in Russia the CIS and other promising
emerging markets.

                          About Altimo

Headquartered in Moscow, Russia, Altimo Telecoms --
http://www.altimo.org/-- has significant investment in cellular  
communications providers VimpelCom, MegaFon and Kyivstar.  
Altimo also has investments into fixed-line and internet
provider Golden Telecom.

                         About VimpelCom

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

                        *     *     *

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


VNESTORGBANK JSC: Partners with Banco de la Nacion Argentina
------------------------------------------------------------
Within the framework of the Intergovernmental Russian-Argentine
Commission on trade, economic, scientific and technical
cooperation, Vnestorgbank JSC and Banco de la Nacion Argentina
signed a Cooperation Agreement.

The Agreement is designed to enhance partnership between VTB
Bank and Banco de la Nacion Argentina in order to facilitate
banking services underpinning foreign trade turnover between the
Russian Federation and the Argentine Republic.  In particular,
the Agreement provides for stronger cooperation in trade
finance, export promotion and investment project support.

                       About Vneshtorgbank

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

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

                        *     *     *

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


YUKOS OIL: More Asset Auctions to Be Announced This Week
--------------------------------------------------------
The office of OAO Yukos Oil Co.'s receivers may announce more
auctions to sell the bankrupt company's assets, in addition to
the previously disclosed March 27 and April 4 schedules, a
report carried by Reuters states.

"Yukos's creditors' committee discussed the composition of lots
for other auctions at a meeting [Mon]day.  The results will be
published in the official media shortly," Nikolai Lashkevich,
spokesman for YUKOS receiver Eduard Rebgun, told Reuters.

The announcement, which could come as early as this week, would
lead to the sale of nearly 200 Yukos assets, which include five
oil refineries and two production units set to be liquidated
this year.

Yukos is scheduled to sell its 9.44 percent stake in state-owned
Rosneft Oil, which includes promissory notes issued by
Yuganskneftegaz, Yukos' former main production unit, for
RUR195.5 billion (US$7.47 billion) on March 27.

Meanwhile, its 20 percent stake in Gazprom Neft, along with
Yukos' ArcticGaz unit and 20 other assets in one lot, will carry
a RUR145-billion starting price during the April 4 auction.

Yukos' stake in Gazprom Neft was earlier assessed at RUR105.5
billion (US$4 billion), and Rosneft at RUR182.3 billion (US$7
billion), media reports suggested.

Mr. Rebgun has estimated Yukos' assets between US$25.6 billion
and US$26.8 billion, minus a possible liquidation discount of
not more than 30 percent.  The latest estimate exceeds the
earlier figure of US$22 billion disclosed by the company's
initial appraisers in January.  As of Jan. 31, claims against
Yukos filed by 68 creditors reached RUR709 billion (US$26.8
billion).

According to RosBusinessConsulting, interested bidders are
required to submit an advance payment equal to 20 percent of the
cost of the lot to participate in the auction.

Rosneft Oil and Gazprom are seen as the most likely bidders for
the bulk of the assets, which Mr. Rebgun aims to sell by August
2007.

Aside from being a potential buyer, Rosneft also holds a
RUR264.6 billion (US$10 billion) claim against Yukos, which
entitled Rosneft a seat in the firm's creditors' committee.

                        About Yukos Oil

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

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

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

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

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

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


=========
S P A I N
=========


BANKINTER 14: Moody's Junks EUR14.2-Million Series E Notes
----------------------------------------------------------
Moody's Investors Service assigned these provisional credit
ratings to seven series of Bonos de Titulizacion Hipotecaria to
be issued by Bankinter 14 Fondo de Titulizacion Hipotecaria, a
Spanish asset securitization fund that has been created by
Europea de Titulizacion, S.G.F.T, S.A:

   -- EUR172.7-million Series A1 notes:(P)Aaa;
   -- EUR566.6-million Series A2 notes:(P)Aaa;
   -- EUR172.7-million Series A3 notes:(P)Aaa;
   -- EUR14.1-million Series B notes:(P)Aa2;
   -- EUR14.2-million Series C notes:(P)A3;
   -- EUR9.5-million Series D notes:(P)Ba2; and
   -- EUR14.2-million Series E notes:(P)C.

According to Moody's, this deal benefits from strong features,
including:

   (1) the basis swap by which the index reference rates on the
       assets (12M Euribor) are exchanged against the index
       reference rate on the notes (3M Euribor);

   (2) a reserve fund that is fully funded upfront to cover a
       potential shortfall in interest and principal;

   (3) an 18-month artificial write-off mechanism;

   (4) the fact that 100% of the loans are secured by
       residential mortgages; and

   (5) the quality of Bankinter (Aa3/P-1) as an originator and
       servicer.

However, Moody's notes that the deal also has a number of
weaknesses, including:

   (1) very tight excess spread;

   (2) the fact that pro-rata amortization of the B, C and D
       Series of notes leads to reduced credit enhancement of
       the senior class in absolute terms; and

   (3) the flexible nature of the mortgage loans, with the
       debtors being able to make successive redraws and enjoy
       grace periods on interest and principal.

These increased risks were reflected in Moody's Credit
Enhancement calculation.

This transaction marks the fourteenth time that Bankinter has
tapped the RMBS market. The products being securitized are
first-lien mortgage loans granted to individuals, all of who
will use these loans to acquire or refurbish properties located
in Spain.  All of the mortgage loans were originated by
Bankinter, which will continue to service them.

As of Jan. 27, the provisional portfolio comprised 6,365 loans
for a total amount of EUR1,027,114,429.  The original weighted
average LTV (WALTV) is 63.41%.  The current WALTV is 60.38%.  
The average loan size is EUR161,369.  The loans were originated
between 2002 and 2005 with a weighted average seasoning of 14.64
months.  All the loans are paid through monthly installments,
which are debited from accounts held by the debtors at
Bankinter.

Moody's based its ratings on:

   (1) an evaluation of the underlying portfolio of mortgage
       loans securing the structure, and

   (2) the transaction's structural protections, which include
       the subordination, the strength of the cash flows
       (including the reserve fund) and any excess spread
       available to cover losses.

Moody's provisional ratings address the expected loss posed to
investors by the legal final maturity.  The rating agency
believes that the structure of the Bankinter 14 notes allows for
timely payment of interest and ultimate payment of principal at
par, on or before the final legal maturity date, and not at any
other expected maturity date.  The ratings do not address the
full redemption of the notes on the expected maturity date.
Moody's ratings address only the credit risks associated with
the transaction.  Other non-credit risks have not been
addressed, but may have a significant effect on yield to
investors.

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


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


AFRICAN-EXPRESS LLC: Creditors' Liquidation Claims Due July 1
-------------------------------------------------------------
Creditors of LLC African-Express have until July 1 to submit
their claims to:

         Atef Anwar Ali
         Liquidator
         Unterdorfstrasse 49
         8964 Rudolfstetten-Friedlisberg
         Bremgarten AG
         Switzerland

The Debtor can be reached at:

         LLC African-Express
         Rudolfstetten-Friedlisberg
         Bremgarten AG
         Switzerland


APOLLO DESIGN: Creditors' Liquidation Claims Due March 30
---------------------------------------------------------
Creditors of LLC Apollo Design have until March 30 to submit
their claims to:

         Albert Muller
         Liquidator
         Kronengasse 8
         5400 Baden AG
         Switzerland

The Debtor can be reached at:

         LLC Apollo Design
         Spreitenbach
         Baden AG
         Switzerland


AQUATRADE LLC: Creditors' Liquidation Claims Due April 1
--------------------------------------------------------
Creditors of LLC Aquatrade have until April 1 to submit their
claims to:

         Buhlstr. 2
         8707 Uetikon am See
         Meilen ZH
         Switzerland

The Debtor can be reached at:

         LLC Aquatrade
         Uetikon am See
         Meilen ZH
         Switzerland


BIB BURO: Creditors' Liquidation Claims Due May 2
-------------------------------------------------
Creditors of JSC BIB Buro fur Informatik und Betriebswirtschaft
have until May 2 to submit their claims to:

         Ringstrasse 9
         4123 Allschwil
         Arlesheim BL
         Switzerland

The Debtor can be reached at:

         JSC BIB Buro fur Informatik und Betriebswirtschaft
         Allschwil
         Arlesheim BL
         Switzerland


BOOST PRODUCTIONS: Creditors' Liquidation Claims Due March 20
-------------------------------------------------------------
Creditors of BOOST Productions Ltd liab. Co. have until March 20
to submit their claims to:

         Hellmut Schumperli
         Liquidator
         Zollikerstrasse 170
         8008 Zurich
         Switzerland

The Debtor can be reached at:

         BOOST Productions Ltd liab. Co.
         Zurich
         Switzerland


BRUNELLA JSC: Creditors' Liquidation Claims Due March 29
--------------------------------------------------------
Creditors of JSC Brunella have until March 29 to submit their
claims to:

         Dr. iur. H. Widmer
         Liquidator
         Bundtenstrasse 8
         4665 Oftringen
         Zofingen AG
         Switzerland

The Debtor can be reached at:

         JSC Brunella
         Oftringen
         Zofingen AG
         Switzerland


CARDOC LLC: Creditors' Liquidation Claims Due April 15
------------------------------------------------------
Creditors of LLC CarDoc have until April 15 to submit their
claims to:

         Huynh Thien
         Liquidator
         Steinstrasse 12
         8106 Adlikon
         Andelfingen ZH
         Switzerland

The Debtor can be reached at:

         LLC CarDoc
         Dallikon
         Dielsdorf ZH
         Switzerland


DENA JSC: Appenzell Court Starts Bankruptcy Proceedings
-------------------------------------------------------
The Bankruptcy Court of Appenzell commenced bankruptcy
proceedings against JSC Dena on Feb. 7.

The Bankruptcy Service of Appenzell can be reached at:

         Appenzell Ausserrhoden
         Branch Heiden
         9410 Heiden AR
         Switzerland

The Debtor can be reached at:

         JSC Dena
         St. Gallerstrasse 26
         9100 Herisau AR
         Switzerland


DIADOM LLC: Creditors' Liquidation Claims Due March 15
------------------------------------------------------
Creditors of LLC DiaDom have until March 15 to submit their
claims to:

         Peter Ruggle
         Liquidator
         GRP Gloor Ruggli Partner Rechtsanwalte
         Freiestr. 204
         8032 Zurich
         Switzerland

The Debtor can be reached at:

         LLC DiaDom
         Zurich
         Switzerland


DUK-HOLZ LLC: Creditors' Liquidation Claims Due April 2
-------------------------------------------------------
Creditors of LLC DUK-Holz have until April 2 to submit their
claims to:

         Gass Steinegg
         Appenzell
         Switzerland

The Debtor can be reached at:

         LLC DUK-Holz
         Rute, Appenzell
         Switzerland


FOTOSTUDIO CLOSE-UP: Creditors' Liquidation Claims Due March 15
---------------------------------------------------------------
Creditors of LLC Fotostudio CLOSE-UP have until March 15 to
submit their claims to:

         JSC TRO Treuhand & Revisions
         Liquidator
         Martin-Disteli-Strasse 9
         4601 Olten SO
         Switzerland

The Debtor can be reached at:

         LLC Fotostudio CLOSE-UP
         Rothrist
         Zofingen AG
         Switzerland


LANDGASTHOF KREUZ: Creditors' Liquidation Claims Due April 19
-------------------------------------------------------------
Creditors of JSC Landgasthof Kreuz have until April 19 to submit
their claims to:

         Rene Sommer
         Liquidator
         Dorfstrasse 9a
         5624 Waldhausern
         Switzerland

The Debtor can be reached at:

         JSC Landgasthof Kreuz
         Tobel-Tagerschen TG
         Switzerland


===========
T U R K E Y
===========


ALTERNATIFBANK: Strong Support Cues Fitch to Lift IDR to BB-
------------------------------------------------------------
Fitch Ratings Alternatifbank A.S.'s upgrades these ratings:

   -- Long-term foreign currency Issuer Default rating to BB-
      from B+;

   -- Local currency Issuer Default rating from B+ to BB;

   -- National Long-term rating from BBB+ to A+;

   -- Support rating from 4 to 3;

The Rating Watch Positive status remains in place for foreign
and local currency IDRs and the National Long-term rating.  At
the same time, the agency affirms ABank's Individual rating at
'D', Short-term foreign currency at 'B' and Short-term local
currency at 'B'.

The Watch Positive status was put in place in November 2006
following Alpha Bank's announcement that it was in talks with
the Anadolu Group with a view to establishing a holding company,
to be held 50:50 by Anadolu Group and Alpha.  This company would
ultimately control all the financial assets of Anadolu Group,
including ABank.  Should this transaction occur, Fitch believes
ABank's foreign and local currency IDRs and National Long-term
ratings could benefit from additional support available from
Alpha.  As a result, these ratings remain on Rating Watch
Positive, which the agency expects to resolve once the
transaction is closed, with finalization anticipated within
H107. Upside potential will, however, be constrained given
Turkey's 'BB' Country Ceiling.

Today's rating actions reflect Fitch's view on Anadolu Endustri
Holding's increased capacity to support ABank, in case of need.

ABank is controlled 77% by AEH, 17% by other Anadolu Group
companies, and the balance is publicly quoted.  AEH is the
holding company for a large part of the Anadolu Group's
operating subsidiaries, including two rated subsidiaries, namely
Anadolu Efes Biracilik ve Malt Sanayii A.S. and Coca-Cola
Icecek.

ABank is a lower mid-sized bank in Turkey, mainly focused on
small and medium-sized enterprises.  Alpha is one of Greece's
largest banking groups with leading positions in most financial
services sectors.  Its shares are fully listed on the Athens
Stock Exchange.


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


ENERGY REPAIR: Creditors Must File Proofs of Claim by March 16
--------------------------------------------------------------
Creditors of LLC Energy Repair Enterprise have until March 16 to
submit written proofs of claims to:

         Department of Pension Fund of Ukraine in Frunze
         District of Kharkov, Liquidator
         Moskovsky Ave. 198/3
         61082 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-31/10-07.

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 Energy Repair Enterprise
         50 Years of USSR 149
         Kharkov
         Ukraine


KUTY WOOD: Creditors Must File Proofs of Claim by March 16
----------------------------------------------------------
Creditors of OJSC Kuty Wood Industrial Complex (code EDRPOU
00274364) have until March 16 to submit written proofs of claim
to:

         Dmitry Postolovsky, Liquidator
         B. Hmelnitsky Str. 21
         Tismenitsa
         77400 Ivano-Frankovsk
         Ukraine

The Economic Court of Ivano-Frankovsk commenced bankruptcy
proceedings against the company on Jan. 11 after finding it
insolvent.  The case is docketed under Case No. B-7/363.

The Court is located at:

         The Economic Court of Ivano-Frankovsk
         Shevchenko Str. 16a
         76000 Ivano-Frankovsk
         Ukraine

The Debtor can be reached at:

         OJSC Kuty Wood Industrial Complex
         Vizhnitskaya Str. 68
         Kuty
         Kosovsky District
         78665 Ivano-Frankovsk
         Ukraine


MIHAYLOVSKOE MANUFACTURE: Claims Filing Deadline Set March 16
-------------------------------------------------------------
Creditors of LLC Mihaylovskoe Manufacture of Refractory
Materials (code EDRPOU 31494164) have until March 16 to submit
written proofs of claim to:

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

The Economic Court of Sumy commenced bankruptcy supervision
procedure on the company on Feb. 5.  The case is docketed under
Case No. 7/2-07.

The Debtor can be reached at:

         LLC Mihaylovskoe Manufacture of Refractory Materials
         Mihaylovskoe
         Krasnopolye District
         42400 Sumy
         Ukraine


RAYGOROD LLC: Proofs of Claim Filing Deadline Set March 16
----------------------------------------------------------
Creditors of Agricultural LLC Raygorod (code EDRPOU 05491858)
have until March 16 to submit written proofs of claim to:

         I. Nogovsky, Temporary Insolvency Manager
         Blagovesnaya Str. 414/1
         18000 Cherkassy
         Ukraine

The Economic Court of Cherkassy commenced bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
10/6006.

The Court is located at:

         The Economic Court of Cherkassy
         Shevchenko Avenue 307
         18005 Cherkassy
         Ukraine

The Debtor can be reached at:

         Agricultural LLC Raygorod
         Kamianka District Raygorod
         20824 Cherkassy
         Ukraine


TUROVSKOE LLC: Creditors Must File Proofs of Claim by March 16
--------------------------------------------------------------
Creditors of Joint LLC Turovskoe (code EDRPOU 23652001) have
until March 16 to submit written proofs of claim to:

         V. Kunashenko, Liquidator
         Sheshukov Str. 10
         Shepetovka
         30400 Hmelnitsky
         Ukraine

The Economic Court of Hmelnitsky commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. 3/180-B.

The Court is located at:

         The Economic Court of Hmelnitskiy
         Nezalezhnosti Square 1
         29000 Hmelnitskiy
         Ukraine

The Debtor can be reached at:

         Joint LLC Turovskoe
         Turovka
         Teofipolsky District
         Hmelnitsky
         Ukraine


ZLAGODA LLC Creditors Must File Proofs of Claim by March 16
-----------------------------------------------------------
Creditors of Joint LLC Zlagoda (code EDRPOU 03789293) have until
March 16 to submit written proofs of claim to:

         V. Kunashenko, Liquidator
         Sheshukov Str. 10
         Shepetovka
         30400 Hmelnitsky
         Ukraine

The Economic Court of Hmelnitsky commenced bankruptcy
proceedings against the company after finding it insolvent.  
The case is docketed under Case No. 3/154-B.

The Court is located at:

         The Economic Court of Hmelnitskiy
         Nezalezhnosti Square 1
         29000 Hmelnitskiy
         Ukraine

The Debtor can be reached at:

         Joint LLC Zlagoda
         Rogovichi
         Polonsky District
         Hmelnitsky
         Ukraine


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


ALLIANCE PHARMA: Dec. 31 Balance Sheet Upside Down by US$11.3MM
---------------------------------------------------------------
Alliance Pharmaceuticals Corp. filed its quarterly financial
statements for the three-month period ended Dec. 31, 2006.

At Dec. 31, 2006, the company's balance sheet showed
US$2,140,000 in total assets, US$13,501,000 in total
liabilities, and US$11,361,000 in stockholders' deficit.  At
Sept. 30, 2006, stockholders' deficit stood at US$11,201,000.

Since inception, the company has funded its operations primarily
through the sale of equity securities, payments from its
collaboration agreements, and debt financing.  From inception to
the current period, the company had received US$243 million in
net proceeds from sales of its equity securities, US$260.8
million in payments from collaboration agreements and US$74.3
million in debt financing of which US$37.8 million of such debt
has been converted into equity and US$25.9 million of such debt
has been retired through the restructuring of various agreements
and the issuance of warrants to purchase our common stock.

At Dec. 31, 2006, the company approximately had US$2 million in
cash, cash equivalents compared to US$3.6 million at June 30,
2006. The decrease resulted primarily from net cash used in
operations of US$1.7 million.

At December 31, 2006, the company had a working capital deficit
of US$10.8 million, compared to working capital deficit of
US$9.6 million at June 30, 2006.  The deficit increase was
principally due to the net cash used in operations, a net
increase of US$329,000 in accounts payable and accrued expenses
and US$490,000 in accrued interest on the Senior Notes,
partially offset by the reduction of fair value of the
derivative liability of US$357,000, the reclassification of the
derivative liability of US$484,000 to additional paid-in capital
and the conversion of US$438,000 of Senior Notes.  The company's
operations to date have consumed substantial amounts of cash and
are expected to continue to do so for the foreseeable future.

The company reported a US$758,000 net loss on zero revenues for
the quarterly period ended Dec. 31, 2006, compared to a net loss
of US$502,000 on total revenues of US$53,000 in the same period
of 2005.  The company's revenue for last year's quarter
consisted of royalties from products other than its Imagent(R)
product.

A full-text copy of the company's financial statements for the
quarterly period ended Dec. 31, 2006, is available for free at:

              http://researcharchives.com/t/s?1b30

                      Going Concern Doubt

As reported in the Troubled Company Reporter on Oct. 10, 2006,
Corbin & Company LLP expressed substantial doubt about Alliance
Pharmaceutical Corp.'s ability to continue as a going concern
after auditing the company's financial statements for the year
ended June 30, 2006.  The auditing firm pointed to the
insufficiency of the company's working capital to fund
operations through the fiscal year ending June 30, 2007.

                     About Alliance Pharma

Alliance Pharmaceutical Corp., is focused on developing its lead
product, Oxygent.  Alliance is currently the only company that
has advanced a synthetic perfluorochemical emulsion-based oxygen
therapeutic into late-stage multi-center international clinical
trials in both Europe and North America.  Alliance is developing
Oxygent as an intravascular oxygen therapeutic, based on its
proprietary PFC and surfactant technologies.


AMR CORP: Dec. 31 Balance Sheet Upside-Down by US$606 Million
-------------------------------------------------------------
AMR Corp. reported net earnings for the year ended Dec. 31,
2006, of US$231 million, compared with net loss of US$857
million for the previous year.  The company's 2006 results
reflected an improvement in revenues somewhat offset by fuel
prices and certain other costs that were higher in 2006,
compared to 2005.

The company's total operating revenues were US$22.56 billion,
which consisted of US$17.86 billion in revenues from American
Airlines, US$2.5 billion in revenues from Regional Affiliates,
US$827 million cargo revenues, and US$1.37 billion in other
revenues, for the year ended Dec. 31, 2006.  The company had
total operating revenues of US$20.71 billion for the year ended
Dec. 31, 2005.

As of Dec. 31, 2006, the company's balance sheet showed
US$29.14 billion in total assets, US$29.75 in total liabilities,
resulting to US$606 million in stockholders' deficit.  The
company's December 31 balance sheet also showed strained
liquidity with US$6.9 billion in total current assets available
to pay US$8.5 billion in total current liabilities.

Unrestricted cash and short-term investments held by the company
as of Dec. 31, 2006, was US$121 million and US$4.59 billion,
respectively, as compared with cash of US$138 million and
US$3.67 billion, respectively, as of Dec. 31, 2005.  AMR Corp.'s
working capital deficit decreased by US$505 million, from
US$2.11 billion at Dec. 31, 2005, to US$1.6 billion at Dec. 31,
2006.

AMR Corp. continues to recapitalize its balance sheet and in
May 2006, issued 15 million shares of common stock for net
proceeds of US$400 million.  On Jan. 26, it issued an additional
13 million shares of common stock for net proceeds of US$497
million.

                          Credit Facility

American Airlines, Inc. has a fully drawn US$740 million credit
facility which consists of a fully drawn US$295 million senior
secured revolving credit facility, with a final maturity on June
17, 2009, and a fully drawn US$445 million term loan facility,
with a final maturity on Dec. 17, 2010.  American's obligations
under the Credit Facility are guaranteed by AMR Corp.

The Credit Facility contains a covenant requiring American to
maintain, as defined, unrestricted cash, unencumbered short term
investments and amounts available for drawing under committed
revolving credit facilities of not less than US$1.25 billion for
each quarterly period through the life of the Credit Facility.

The required ratio was 1.2 to 1 for the four-quarter period
ending Dec. 31, 2006, and will increase gradually for each four-
quarter period ending on each fiscal quarter thereafter until it
reaches 1.5 to 1 for the four-quarter period ending June 30,
2009.

A full-text copy of the company's annual report for 2006 is
available for free at http://ResearchArchives.com/t/s?1b0e

                          About AMR Corp.

Forth Worth, Tex.-based AMR Corp., operates with its principal
subsidiary, American Airlines, Inc., -- http://www.aa.com/-- a  
worldwide scheduled passenger airline.  At the end of 2006,
American provided scheduled jet service to approximately 150
destinations throughout North America, the Caribbean, Latin
America, Europe and Asia.  American is also a scheduled
airfreight carrier, providing freight and mail services to
shippers throughout its system.  

Its wholly owned subsidiary, AMR Eagle Holding Corp., owns two
regional airlines, American Eagle Airlines, Inc. and Executive
Airlines, Inc. and does business as "American Eagle."  American
Beacon Advisors Inc., a wholly owned subsidiary of AMR, is
responsible for the investment and oversight of assets of AMR's
U.S. employee benefit plans, as well as AMR's short-term
investments.


ANIPOINT LTD: Brings In Deloitte & Touche to Administer Assets
--------------------------------------------------------------
William Kenneth Dawson and Debbie Marie Young of Deloitte &
Touche LLP were appointed joint administrators of Anipoint Ltd.
(Company Number 04869966) on March 2.

Deloitte & Touche LLP -- http://www.deloitte.com/-- provides  
audit, tax, consulting, and corporate finance services through
more than 9,000 people in 21 locations.  The group is the United
Kingdom member firm of Deloitte Touche Tohmatsu, a Swiss Verein
whose member firms are separate and independent legal entities.   

The company can be reached at:

         Anipoint Ltd.  
         Harrington Dock  
         Liverpool  
         Merseyside  
         L7 01AX  
         England
         Tel: 0151 708 8141  
         Fax: 0151 708 8803


ANNO DOMINI: Appoints Joint Administrators from Vantis
------------------------------------------------------
Frank Wessely and Peter Hughes-Holland of Vantis Plc were
appointed joint administrators of Anno Domini Ltd. (Company
Number 01875015) on Feb. 26.

Headquartered in United Kingdom, Vantis Plc (fka Vantis
Numerica) -- http://www.vantisplc.com/-- provides accounting,  
business, and tax advisory services in the United Kingdom.

The company can be reached at:

         Anno Domini Ltd.  
         23 Chequers Square  
         Uxbridge  
         Middlesex  
         UB8 1LN  
         England  
         Tel: 01895 254 884  
         Fax: 01895 254 884


APPLE TEXTILES: Claims Filing Period Ends March 27
--------------------------------------------------
Creditors of Apple Textiles Ltd. have until March 27 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:

         Stephen P. J. White
         Liquidatr  
         White & Co.
         20 Cornhill
         Lincoln  
         LN5 7HB
         England

Stephen P. J. White of White & Co. was appointed liquidator of
the company on Feb. 27.


ARCSTREAM AV: Claims Filing Period Ends June 2
----------------------------------------------
Creditors of Arcstream AV Ltd. have until June 2 to send in
their full names, their addresses and descriptions, full
particulars of their debts or claims, and the names and
addresses of their solicitors (if any) to:

         James Bradney and Stewart Bennett,
         Joint Liquidators  
         Berg Kaprow Lewis LLP
         35 Ballards Lane
         London  
         N3 1XW
         England

James Bradney and Stewart Bennett of Berg Kaprow Lewis LLP were
appointed joint liquidators of the company on March 2.


BISCIT INTERNET: Appoints Administrator from Piper Thompson
-----------------------------------------------------------
Piper Thompson confirmed the appointment of Tony James Thompson
as administrator of Biscit Internet on March 5, reports say.

The service provider denied speculations that it was having
financial difficulties amidst service outages, bouncing of
refund checks to customers, and staff redundancies in January.

Biscit CEO Hugh Paterson resigned from his post last month.  The
company also withdrew from the Internet Service Providers'
Association, which does not conform to the requirement of U.K.
regulator Ofcom (Office of Communications).

Headquartered in Weybridge, England, Piper Thompson --
http://www.piper-thompson.co.uk/-- provides advice to companies  
in financial difficulties, all over England, since 1983.

Headquartered in Edgware, England, Biscit Internet --
http://www.biscit.net/-- provides advanced communications  
technology and services catering to some 35,000 business and
home broadband customers.


BS AUTO: Calls In Liquidators from Mazars LLP
---------------------------------------------
Robert Adamson and Paul Charlton of Mazars LLP were appointed
joint liquidators of BSL Auto Services (South) Ltd. on Feb. 28
for the creditors' voluntary winding-up procedure.

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

The company can be reached at:

         BSL Auto Services (South) Ltd.
         7 Lowthian Road
         Hartlepool
         Cleveland
         TS248BH
         England
         Tel: 01429 222 019


BUSINESS 550: Names Liquidators to Wind Up Business
---------------------------------------------------
Philip Anthony Brooks and Julie Willetts of Blades Insolvency
Services were appointed joint liquidators of Business 550
Publishing Ltd. on Feb. 28 for the creditors' voluntary winding-
up proceeding.

The company can be reached at:

         Business 550 Publishing Ltd.
         Rosemary Street
         Mansfield
         Nottinghamshire
         NG181QU
         England
         Tel: 01623 454 545


CAPRICORN SOFTWARE: Creditors Confirm Voluntary Liquidation
-----------------------------------------------------------
Creditors confirmed on Feb. 23 the company's resolution for
voluntary liquidation and the appointment of J. M. Titley of DTE
Leonard Curtis as liquidator.

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

The company can be reached at:
  
         Capricorn Software Ltd.
         Stone Street
         Petham
         Canterbury
         Kent
         CT4 5PR
         England
         Tel: 01227 700 044


CHESHIRE FOODS: Taps Begbies Traynor to Administer Assets
---------------------------------------------------------
Paul Stanley and Gary Norton Lee of Begbies Traynor were
appointed joint administrators of Cheshire Foods Ltd. (Company
Number 1805888) on Feb. 28.

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

The company can be reached at:

         Cheshire Foods Ltd.  
         20 New Court Way  
         Ormskirk  
         Lancashire  
         L39 2YT  
         England
         Tel: 01695 574 044


COLLINS & AIKMAN: Files Litigation Trust Allocation Under Plan
--------------------------------------------------------------
Collins & Aikman Corp. and its debtor-affiliates filed with the
U.S. Bankruptcy Court for the Eastern District of Michigan the
litigation trust allocation, as set forth in Articles I and V of
the Amended Disclosure Statement for the First Amended Joint
Plan.  The Official Committee of Unsecured Creditors has agreed
to the allocation of the litigation recovery interests.

The impaired classes of Class 5, general unsecured claims; Class  
6, senior note claims and Pension Benefit Guaranty Corp. claims;  
and Class 7, senior subordinated note claims, will receive their  
pro rata share of the percentage of the Tranche B Litigation  
Recovery Interests allocated to the classes.

                   Class 5 Claims           14%
                   Class 6 Claims           86%
                   Class 7 Claims            0%

In accordance with the subordination provisions of the Senior  
Subordinated Note Indenture, the Tranche B Litigation Recovery  
Interests that would have been allocated to Class 7 will be  
allocated to Class 6.  Class 7 Claims holders will not receive a  
recovery under the Plan until holders of allowed Senior Note  
Claims have been paid in full plus any additional amounts  
required to be paid pursuant to the Senior Note Indenture.

For purposes of distributions to Holders of Allowed Claims in  
Class 6, until the Allowed Claims have been paid in full, the  
amount of Senior Note Claims will be increased by the amount of  
Senior Subordinated Note Claims for an aggregate claim amount in  
respect of the Senior Note Claims of approximately
US$949,000,000.

                    About Collins & Aikman

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. 55;  
Bankruptcy Creditors' Service, Inc.,  
http://bankrupt.com/newsstand/or 215/945-7000)


COLLINS & AIKMAN: Parties Oppose Appointment of Examiner
--------------------------------------------------------
Collins & Aikman Corp. and its debtor-affiliates, the Official
Committee of Unsecured Creditors and JPMorgan Chase Bank, N.A.,
agent for the Debtors' senior, secured prepetition lenders
oppose the appointment of an examiner at this late stage in the
Debtors' Chapter 11 cases.

The U.S. Trustee, nearly four months since a lone creditor  
requested a fee examiner, and without contacting the Debtors or  
any the major constituency, came to the bewildering conclusion  
that an examiner is necessary in the Debtors' Chapter 11 cases,  
notes Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New
York, representing the Debtors.

The Debtors have managed their cases through a transparent  
process in which the Debtors confronted all significant
business, financial, strategic and tactical issues hand-in-hand
with their major creditor constituencies.  Each of the Debtors'
major constituencies was kept advised of the Debtors' progress
and financial performance, Mr. Schrock asserts.

As the U.S. Bankruptcy Court for the Eastern District of
Michigan and parties-in-interest are well aware, the Debtors  
always maintained the sale option as part of their dual-track  
strategy and even maintained the option to sell in the Debtors'  
August 2006 Plan of Reorganization, Mr. Schrock points out.

The U.S. Trustee, without so much as a telephone call at any
time during the Debtors' Chapter 11 cases to express concern or
to request any information with respect to the Debtors'
financial situation, other than the monthly operating reports,
or the direction of the cases, now seeks to expand the
allegations made by Third Avenue Value Fund, without any
knowledge of basis whatever for doing so, Mr. Schrock argues.

The U.S. Trustee has waived its right to now obtain an examiner  
as a result of its inactivity and silence throughout the cases,  
Mr. Schrock maintains.

Moreover, the U.S. Trustee's request is an abuse of discretion  
that, among other things, has the potential to rack up  
substantial costs; does not even consider how the examiner would  
be paid; and threatens to derail a Chapter 11 plan that forms
the basis to sell the Debtors' assts, maximize value of the
assets and job preservation, ensure orderly parts production,
and emerge from bankruptcy, Mr. Schrock asserts.

The appointment of an examiner at this stage of the Debtors'  
Chapter 11 proceedings lacks any good faith purpose and could  
impair creditor recoveries, Alexis Freeman, Esq., at Akin Gump  
Strauss Hauer & Feld LLP, in New York, representing the
Creditors Committee, adds.

Mr. Freeman points out that the U.S. Trustee's request is  
unsupported by the facts in the Debtors' Chapter 11 cases and  
applicable law.  The U.S. Trustee has failed to cite any  
precedent that Section 1104 of the Bankruptcy Code mandates the  
appointment of a fee examiner, if requested.

The Debtors, Creditors Committee and JPMorgan believe that if
the Court should find that the appointment of an examiner is  
necessary, the examiner should be a fee examiner, and that any  
review performed by a fee examiner should be limited in scope to  
the review of final fee applications and limited to matters that  
are particular areas of concern.

JPMorgan requests that should a fee examiner be appointed, the  
Court select one or more of the independent third-party  
professionals it recommended in its statement.

                     About Collins & Aikman

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.

On Aug. 30, 2006, the Debtors filed their Chapter 11 Plan and
Disclosure Statement explaining that Plan.  On Dec. 22, 2006,
they filed an Amended Joint Chapter 11 Plan and then filed a
modified Amended Plan on Jan. 24, 2007.  The Court approved the
Amended Disclosure Statement on Jan. 25, 2007.  The confirmation
hearing on the Amended Joint Plan is set for March 19, 2007.
(Collins & Aikman Bankruptcy News, Issue No. 55; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or  
215/945-7000).


CORUS GROUP: LSE Admits 49,000,000 Ordinary Shares for Trading
--------------------------------------------------------------
Application has been made to The U.K. Listing Authority and the
London Stock Exchange for block listings totaling 49,000,000
Ordinary shares of 50 pence each to trade on the London Stock
Exchange and to be admitted to the Official List upon issuance.
The shares shall rank equally with the existing issued shares of
Corus Group plc.

The Block listings consist of 43,000,000 shares to be issued
under the Leverage Equity Acquisition Plan and 6,000,000 shares
to be issued under the Executive Share Option Scheme.

                        About Tata Steel

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

                        About Corus Group

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

Corus turns over GBP10 billion annually and employs 47,300 in
over 40 countries and sales offices and service centers
worldwide, including Indonesia and the Philippines.

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

                          *     *     *

As reported in the Troubled Company Reporter - Asia Pacific on
Feb. 2, 2007, Standard & Poor's Ratings Services kept its 'BB'/
long-term corporate credit rating on U.K.-based steelmaker Corus
Group PLC on CreditWatch with developing implications, after the
completion of the auction process, during which India-based
steel manufacturer Tata Steel Ltd. offered the highest bid of
608 pence per share.

This values the company at GBP5.75 billion, up from the 455
pence per share of the initial bid.

At the same time, the 'BB+' long-term debt rating on Corus'
EUR700 million senior secured bank loan and the 'BB-' unsecured
debt ratings on Corus remain on CreditWatch with developing
implications.  The 'B' short-term corporate credit rating
remains on CreditWatch with positive implications.

All ratings were placed on CreditWatch on Oct. 18, 2006,
following the disclosure of an initial bid by Tata Steel.

On Feb 2, 2007, Fitch Ratings said that Corus Group Plc's Issuer
Default 'BB-' and Short-term 'B' ratings remain on Rating Watch
Negative following a recommended bid, valued at GBP6.2 billion,
from India-based Tata Steel Ltd. in the wake of an auction
process conducted by the U.K. Takeover Panel on Jan. 30-31,
2007.  The RWN also applies to the 'B+' ratings on CS's EUR800
million 7.5% senior notes and Corus Finance Plc's GBP200m 6.75%
guaranteed bonds.

At the same time, Moody's Investors Service placed Corus Group
plc's Ba2 Corporate Family and other ratings under review.


DIGITAL UNIVERSITY: Hires Liquidators from Begbies Traynor
----------------------------------------------------------
Wayne Macpherson and Lloyd Biscoe of Begbies Traynor were
appointed joint liquidators of Digital University Press Ltd. on
March 5 for the creditors' voluntary winding-up procedure.

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

The company can be reached at:

         Digital University Press Ltd.
         White Gates
         Alexander Lane
         Shenfield
         Brentwood
         Essex
         CM158QF
         England
         Tel: 01277 219 119
         Fax: 01277 219 120


EMI GROUP: Warner Music May Attempt Fresh Takeover Offer
--------------------------------------------------------
Warner Music Group CEO Edgar Bronfman Junior is prepared to draw
a fresh takeover bid for EMI Group Plc, on condition that EMI
will consider a revised offer, reports say.

EMI rejected Warner's GBP2.1 billion non-binding takeover bid on
March 2, saying that the price of 260 pence per share in cash
for EMI is inadequate.

Warner approached EMI on Jan. 24, after it obtained the support
of Brussels-based Impala, a trade group for independent European
record labels ending its opposition to a Warner-EMI merger.  
Warner clarified Feb. 21 that any possible takeover offer for
EMI is likely to be solely in cash.

Analysts believed that an EMI-Warner merger could generate cost
savings of about GBP150 million a year.

EMI issued two profit warnings since January 2007.

                    About Warner Music Group

Warner Music Group Corp. (NYSE: WMG) -- http://www.wmg.com/--  
is a music company that operates through numerous international
affiliates and licensees in more than 50 countries, including
the Philippines.

                         About EMI

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

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

                        *     *     *

As reported in the TCR-Europe on March 1, Standard & Poor's
Ratings Services placed its ratings on Warner Music Group Corp.,
including the 'BB-' corporate credit rating, on CreditWatch with
negative implications, following the company's statement that it
is exploring a possible merger agreement with EMI Group PLC (BB-
/Watch Neg/B), which EMI management has confirmed.

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


FINLANDIA HOMES: Creditors' Meeting Slated for March 21
-------------------------------------------------------
Creditors of Finlandia Homes Ltd. will meet at 10:30 a.m. on
March 21 at:

         Lovewell Blake
         89 Bridge Road
         Oulton Broad
         Lowestoft
         Suffolk  
         NR32 3LN
         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
5:00 p.m. on March 19 and March 20 at Lovewell Blake, or upon
request by fax.


FORD MOTOR: Aston Martin CEO Vows to Make it World's Number One
---------------------------------------------------------------
Aston Martin CEO Ulrich Bez revealed plans to make the famous
marquee "the number one prestige car company in the world" after
Ford Motor Company sold it to an investor consortium, the
Financial Times states.

As reported in the TCR-Europe on March 13, Ford has entered into
a definitive agreement to sell Aston Martin, its prestigious
sports car business, to a consortium comprised of David
Richards, John Sinders, Investment Dar, and Adeem Investment
Co., for GBP479 million (US$925 million).

Analysts say Aston is in good hands, as it will continue to be
led by a strong management team with Mr. Bez at the helm.  In
addition, the luxury car segment, of which Aston is a part, is
raking in more money than volume manufacturers, in spite of the
car industry's crisis, FT relates.

According to the report, one more thing working in Aston's favor
is its robust dealership network, which has steadily grown from
60 to 225 over the past few years.  The brand further plans to
expand in metropolitan centers in Moscow, St. Petersburg,
Shanghai, and Beijing.  Aston will also introduce a new model --
the Rapide -- a four-door sports coupe with a GBP180,000 tag
price, expected to enter production by 2010.

However, analysts are concerned that new manufacturing platforms
may cost the new owners up to US$1 billion (EUR758 million) due
to the car industry's high development costs, FT reveals.

Aston must invest heavily in cleaner engine technology as well,
in the wake of stricter regulations of automobile emissions.  In
this regard, Ford has expressed its desire to continue supplying
engines to the ultra-luxury marquee, FT adds.

                      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 280,000
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 $3 billion of senior convertible notes due
2036.


GLEN SERVICE: Appoints C. B. Barrett as Liquidator
--------------------------------------------------
C. B. Barrett of Unity Business Services LLP was appointed
liquidator of Glen Service Station Ltd. on March 6 for the
creditors' voluntary winding-up proceeding.

The company can be reached at:

         Glen Service Station Ltd.
         Newchurch Road
         Bacup
         Lancashire
         OL130NN
         England
         Tel: 01706 873 988


GREENHILL FURNITURE: Creditors Confirm Liquidators' Appointment
---------------------------------------------------------------
Creditors of Greenhill Furniture Ltd. (formerly Greenhill Pine
Ltd. and Radford Timber Ltd.) confirmed on March 1 the
appointment of Tyrone Shaun Courtman and Jeremy Philip William
Meadows, of Cooper Parry LLP as the company's joint liquidators.

Cooper Parry LLP -- http://www.cooperparry.com/-- are advisers  
to private business.  

The company can be reah ed at:

         Greenhill Furniture Ltd.
         Triumph Road
         Nottingham
         Nottinghamshire
         NG7 2GA
         England
         Tel: 0115 942 2700
         Fax: 0115 942 2699


HARVEST CLO: S&P Rates EUR26-Million Class E Notes at BB
--------------------------------------------------------
Standard & Poor's Ratings Services said assigned its preliminary
credit ratings to the EUR495 million senior floating-rate notes
to be issued by Harvest CLO V PLC.  In addition, Harvest CLO V
will issue a class of unrated notes totaling EUR55 million.
  
At closing, Harvest CLO V will issue floating-rate notes, the
proceeds of which, after paying transaction fees and expenses,
will be invested in a portfolio of predominately senior-secured
leveraged loans.
  
The transaction has a seven-year reinvestment period.  The
portfolio manager will be Mizuho Investment Management Ltd.
  
Similar to Harvest CLO III and IV, Harvest CLO V will
incorporate a maximum bucket for offsetting obligations and
credit-short obligations, whereby the issuer, or the portfolio
manager on its behalf, may enter into CDS transactions with an
adequately rated financial institution selling protection.
  
Through this process, the issuer will buy protection for a
specified reference obligation that it already owns or one it
does not.
  
                           Ratings List
  
Harvest CLO V PLC
   EUR550 Million Floating-Rate Notes
  
                           Prelim.        Prelim.
            Class          rating         amount (Mil. EUR)
            -----          -------        -------
            A-D            AAA            212.0
            A-R            AAA            137.5
            A-2            AAA             27.5
            B              AA              36.0
            C              A               34.0
            D              BBB             22.0
            E              BB              26.0
            Subordinated
            notes          NR              55.0


IBP LTD: Appoints Joint Administrators from Deloitte & Touche
-------------------------------------------------------------
Neville Barry Kahn and Nicholas James Dargan of Deloitte &
Touche LLP were appointed joint administrators of IBP Ltd.
(Company Number 4294377) on March 2.

Deloitte & Touche LLP -- http://www.deloitte.com/-- provides  
audit, tax, consulting, and corporate finance services through
more than 9,000 people in 21 locations.  The group is the United
Kingdom member firm of Deloitte Touche Tohmatsu, a Swiss Verein
whose member firms are separate and independent legal entities.   

Headquartered in Tipton, England, IBP Ltd. --
http://www.ibpgroup.com/-- is a global manufacturer of  
compression, end feed, solder ring, crimp and push-fit fittings,
and a wide range of ancillary products.


ILFORD PRINT: Names Richard Andrew Segal Liquidator
---------------------------------------------------
Richard Andrew Segal of Begbies Traynor was appointed liquidator
of Ilford Print Ltd. (formerly Global Print Air Ltd.) on March 1
for the creditors' voluntary winding-up proceeding.

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

The company can be reached at:

         Ilford Print Ltd.
         P O box 110
         West Sussex
         RH192FU
         England
         Fax: 01732 743 773


INTERNATIONAL BUILDING: Taps Deloitte & Touch as Administrators
---------------------------------------------------------------
Neville Barry Kahn and Nicholas James Dargan of Deloitte &
Touche LLP were appointed joint administrators of International
Building Products France SA (Company Number 316945633) on March
2.

Deloitte & Touche LLP -- http://www.deloitte.com/-- provides  
audit, tax, consulting and corporate finance services through
more than 9,000 people in 21 locations.  The group is the United
Kingdom member firm of Deloitte Touche Tohmatsu, a Swiss Verein
whose member firms are separate and independent legal entities.   

Headquartered in Sartrouville, France, International Building
Products France SA is a subsidiary of IBP Ltd. that sells and
distributes copper plumbing fittings.


JTA PALLET: Creditors' Meeting Slated for March 21
--------------------------------------------------
Creditors of JTA Pallet Distribution Ltd. will meet at 11:00
a.m. on March 1 at:

         Butcher Woods
         79 Caroline Street
         Birmingham  
         B3 1UP
         England
  
A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and
4:00 p.m. on March 19 and March 20.


KEW LAUNDRY: Claims Filing Period Ends April 10
-----------------------------------------------
Creditors of Kew Laundry Ltd. have until April 10 to send in
their names, addresses and descriptions, full particulars of
their debts or claims, and the names and addresses of their
solicitors (if any) to:

         Andrew Andronikou
         Liquidator
         UHY Hacker Young
         St. Alphage House
         2 Fore Street
         London  
         EC2Y 5DH
         England

Andrew Andronikou and Peter Alan Kubik of UHY Hacker Youn were
appointed joint liquidators of the company on Feb. 27.


LADBROKES PLC: B. G. Wallace Holds 38,302 Ordinary Shares
---------------------------------------------------------
Ladbrokes plc has been notified by B. G. Wallace that on his
appointment as a Director of the company on March 5, he had an
interest in 38,302 ordinary Shares of 28-1/3 pence each of the
company.

Other than Mr. Wallace's current directorships of Hays plc and
Scottish and Newcastle plc and his previous directorship of
Ladbrokes plc (then named Hilton Group plc) from which he
resigned on Feb. 22, 2006, following the sale of Hilton
International, there are no details to be disclosed in respect
of Mr. Wallace pursuant to listing rule 9.6.13r.

Ms. R. P. Thorne, who as disclosed on March 5, was replaced by
Mr. Wallace as Group Finance Director, formally resigned as a
director of the company on March 12.  She will continue in the
company's employment until April 30.

                          About Ladbrokes

Headquartered in Watford, United Kingdom, Ladbrokes plc --
http://www.ladbrokesplc.com/-- engages in fixed odds betting.  
The company is comprised of Ladbrokes, the biggest retail
bookmaker in the U.K. and Ireland, Ladbrokes.com, a world-
leading provider of interactive betting and gaming services,
Vernons, the leading football pools operator and Ladbrokes
Casinos, which opened its first casino at the Hilton London
Paddington in July 2006.

At Dec. 31, 2006, the Company's consolidated balance sheet
showed GBP852.9 million in total assets and GBP1.5 billion in
total liabilities, resulting in a GBP626.9-million stockholders'
deficit.

                        *     *     *

As reported in the TCR-Europe on Oct. 26, 2006, Standard &
Poor's Ratings Services affirmed its 'BB' ratings on the senior
unsecured debt of the U.K.-based gaming operator Ladbrokes PLC
and its guaranteed subsidiary Ladbrokes Group Finance PLC, and
removed the ratings from CreditWatch with negative implications.

Moody's Investors Service downgraded in February 2006 the senior
unsecured long-term ratings of Hilton Group Plc (nka Ladbrokes
Plc) and its guaranteed subsidiaries to Ba2 from Baa3; the
outlook is stable.


NEXUS SOFTWARE: Appoints Paul Appleton as Liquidator
----------------------------------------------------
Paul Appleton of David Rubin & Partners was appointed liquidator
of Nexus Software Ltd. the company on for the creditors'
voluntary winding-up procedure.

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

The company can be reached at:

         Nexus Software Ltd.
         6/8 The Spinney
         Forest Road
         Parklands Business Park
         Denmead
         Waterlooville
         Hampshire
         PO7 6AR
         England
         Tel: 023 9224 8300


NORDIC ARCHITECTURAL: Taps David Field to Liquidate Assets
----------------------------------------------------------
David Field of Centrum Recovery was appointed liquidator of
Nordic Architectural Systems Ltd. on Feb. 15 for the creditors'
voluntary winding-up proceeding.

The company can be reached at:

         Nordic Architectural Systems Ltd.
         Unit 3
         Coulman Street
         Thorne
         Doncaster
         South Yorkshire
         DN8 5JS
         England
         Tel: 01405 817 041
         Fax: 01405 817 160


NRG EVENTS: Claims Filing Period Ends May 27
--------------------------------------------
Creditors of NRG Events Ltd. (formerly D1GB Ltd. and DIGBP Ltd.)
have until May 27 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:

         Anthony Hyams  
         Liquidator
         Marriotts LLP
         Allan House
         10 John Princes Street
         London  
         W1G 0AH
         England

Anthony Hyams of Marriotts LLP was appointed liquidator of the
company on Feb. 27.


NRL SOLUTIONS: Hires Richard Paul Rendle as Liquidator
------------------------------------------------------
Richard Paul Rendle of R P Rendle & Co. was appointed liquidator
of NRL Solutions Ltd. on Feb. 27 for the creditors' voluntary
winding-up procedure.

The company can be reached at:

         NRL Solutions Ltd.
         85 Summerfield Crescent
         Birmingham
         West Midlands
         B16 0EN
         England
         Tel: 0121 454 0105


ON THE DOT: Creditors' Meeting Slated for March 26
--------------------------------------------------
Creditors of On the Dot Recruitment Ltd. will meet at 10:30 a.m.
on March 26 at:
  
         Tomlinsons
         St. John's Court
         72 Gartside Street
         Manchester
         M3 3EL          
         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 22.

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.


PEMBROKESHIRE SKILLS: Hires Gary Stones to Liquidate Assets
-----------------------------------------------------------
Gary Stones of Stones & Co. was appointed liquidator of
Pembrokeshire Skills Park Ltd. on March 2 for the creditors'
voluntary winding-up procedure.

The company can be reached at:

         Pembrokeshire Skills Park Ltd.
         Unit 10
         Honeyborough Industrial Estate
         Neyland
         Milford Haven
         Dyfed
         SA731SE
         Wales
         Tel: 01646 600 808
         Fax: 01646 602 288


PHYSICAL EVALUATION: N. A. Bennett Leads Liquidation Procedure
--------------------------------------------------------------
N. A. Bennett of Leonard Curtis was appointed liquidator of
Physical Evaluation Systems Ltd. on Feb. 28 for the creditors'
voluntary winding-up procedure.

The company can be reached at:

         Physical Evaluation Systems Ltd.
         Clipper House
         66 London Street
         Reading
         Berkshire
         RG1 4SQ
         England
         Tel: 0118 959 1222
         Fax: 0118 959 7559


POLAR PRODUCTIONS: Taps Greg Whitehead to Liquidate Assets
----------------------------------------------------------
Greg Whitehead of Northpoint Associates was appointed liquidator
of Polar Productions Ltd. on Feb. 28 for the creditors'
voluntary winding-up procedure.

The company can be reached at:

         Polar Productions Ltd.
         Plummer House
         Croft Street
         Newcastle Upon Tyne
         Tyne and Wear
         NE1 6NG
         England
         Tel: 0191 222 0440


REFCO INC: Crisis Managers Want US$7.4 Mln in Success Fees Paid
---------------------------------------------------------------
AP Services, LLC, and Goldin Associates, LLC, ask the U.S.
Bankruptcy Court for the Southern District of New York to compel
Refco, Inc., and its debtor-subsidiaries to pay them contingent
success fees totaling US$7,430,433 for services rendered as
crisis managers in the Debtors' Chapter 11 cases.

Specifically, APS seeks approval of a US$5,000,000 Success Fee
consistent with the terms of its Court-approved engagement
letter with the Debtors, dated Oct. 18, 2005.

Goldin seeks payment of a US$2,430,433 Success Fee in connection
with its engagement as crisis manager for Refco, including
services performed by Harrison J. Goldin, as chief executive
officer; David Pauker and Mark Slane, as chief restructuring
officers; and Jerry Lombardo, as chief financial officer.

The Goldin Success Fee represents a 25% premium to the hourly
fees paid to Goldin in connection with its Engagement Letter
with the Debtors, dated Jan. 5, 2006.

APS and Goldin believe that the exceptional results they
achieved in Refco's successful cases in a narrow time frame, as
well as their relevant contributions, fully merit the award of
the requested Success Fees.

                    APS US$5,000,000 Success Fee

Sheldon S. Toll, Esq., at Sheldon S. Toll PLLC, in Southfield,
Michigan, tells Judge Drain that amid the chaos from the
Debtors' bankruptcy filing through the effective date of the
Reorganized Debtors' Chapter 11 Plan, APS has expended
incredible crisis management efforts around the world to ensure
a timely and orderly wrap-up of the Debtors' affairs, while
seeking to maximize the cash available to their creditors.

According to Mr. Toll, the APS team, working with the other
retained firms in the Debtors' cases, led certain key aspects
and contributed significantly to the overall success and prompt
wind-down of the Refco business by:

   (1) managing the lengthy and complex post-closing processes
       of the Man Financial Inc. transaction, which included
       Refco's largest U.S. operation and related international
       entities in the United Kingdom, Canada, and Asia;

   (2) working with management and parties-in-interest to wind
       down Refco Securities, LLC, out of court, hence, saving
       substantial direct costs and accelerating the speed of
       the case;

   (3) analyzing customer accounts with and assets and
       liabilities of Refco Capital Markets, Ltd., which effort
       provided valuable insights to the Debtors and creditors
       during the customer litigation and RCM customer
       settlement process, and enabled prompt initial
       distributions to creditors after the Plan Effective Date;

   (4) leading intercompany analysis, providing creditors and
       debtors with valuable insights into the company's
       intercompany accounts and historical transactions, and
       providing information necessary for the parties to
       conduct Plan negotiations;

   (5) separating information technology function from Man
       Financial subsequent to the acquisition, and leading the
       development of an independent estate IT function; and

   (6) leading the claims analysis and resolution efforts for
       the Debtors, which led to the resolution to a substantial
       number of claims before the Effective Date and enabled
       distribution of over US$1,400,000,000 in cash to RCM
       creditors in December 2006 -- within two days after the
       Effective Date.

Other estate management issues addressed by the APS team include
liquidity and cash management; wind-down of fund management
business; wind-down of Refco F/X Associates, LLC; human
resources and facilities management; and general case
management.

Mr. Toll asserts that APS has played a key role in worldwide
asset sales and orderly liquidations that will result in over
US$1,000,000,000 in cash to the Debtors' estates.

Mr. Toll also points out that the APS role has been key not only
to the negotiation of various asset purchase agreements and
planning of orderly wind downs, but also key in leading
implementation of those initiatives, as well as in the absence
of any management structure.  In addition, APS has enabled the
estate to preserve value through management of complex
postpetition negotiations, with estimated proceeds totaling up
to US$1,283,200,000, he states.

Mr. Toll notes that during the Debtors' case, neither APS nor
other retained firms were paid on a current basis.  Thus, he
says, APS and the other firms were effectively uncompensated DIP
lenders to the estate.  He adds that the estates benefited
because they would have had to borrow at rates in excess of 11%
if they could have borrowed at all.  APS' average monthly unpaid
balance from the Debtors' bankruptcy filing through the
Effective Date was over US$7,000,000, he discloses.

Mr. Toll acknowledges other retained firms and individuals who
played important roles in the Reorganized Debtors' cases.  He
maintains, however, that the successful results would not have
occurred without the APS team efforts.

Mr. Toll insists that the APS Success Fee is appropriate because
it was included in the US$180,000,000 fee cap computation, and,
thus should be approved.

                  Goldin's US$2,430,433 Success Fee

Steven J. Reisman, Esq., at Curtis, Mallet-Prevost, Colt & Mosle
LLP, in New York, states that Goldin played a significant role
in organizing a consensual Chapter 11 Plan in the Debtors' cases
by providing interim management and restructuring services to
the Debtors.  Goldin also:

   (a) orchestrated and led a strategy based on full cooperation
       with all governmental investigations in connection with
       the alleged fraud present in the Debtors' cases;  

   (b) led negotiations that successfully resolved all issues
       concerning RSL distribution;    

   (c) worked for the Reorganized Debtors' overseas operations
       to ensure distributions of foreign subsidiaries and
       affiliates;

   (d) sought to maximize the number of qualified estate
       personnel regarding the Debtors' human resource
       activities and functions; and

   (e) was responsible for overseeing the accounting, financial
       reporting and related activities.

Mr. Reisman notes that Goldin continued to be involved in
maximizing future distributions to customers and facilitating
orderly resolution of the issues facing RCM, even after the RCM
estate came under the separate management of a Court-appointed
trustee.

Mr. Reisman says Goldin was also involved in formulating and
executing numerous strategies to maximize recoveries to Refco
from Refco, LLC, by providing extensive resources of the parent
company and its professionals to support the activities of
Albert Togut, as Chapter 7 Trustee for the Refco LLC estate.

Moreover, Mr. Reisman states, Goldin played a key role in
representing the interests of the FXA creditors during the Plan
negotiations, and actively negotiated to obtain numerous
improvements, including increased cash, reduced expenses and
interests in a litigation trust.

Mr. Reisman further discloses that Goldin minimized the costs to
the estates of outside management consultants throughout the
bankruptcy proceedings by reducing the combined Goldin/AP
Services, LLC, interim management staff from 23 in January 2006,
to 12 by December 2006.

Through the final quarter of 2006, Goldin was paid US$9,721,734
in fees and reimbursed US$106,107 in expenses for services
rendered during the Debtors' cases, Mr. Reisman states.

"Given the extraordinary circumstances presented when Goldin was
retained to take over management, a success fee is a normal and
expected component of compensation," Mr. Reisman asserts.

The Court will convene a hearing on April 11, 2007, at 10.00
a.m. to consider approval of the APS and Goldin Success Fees.

                          About Refco Inc.

Headquartered in New York, New York, Refco Inc. --
http://www.refco.com/-- is a diversified financial services  
organization with operations in 14 countries and an extensive
global institutional and retail client base.  Refco's worldwide
subsidiaries are members of principal U.S. and international
exchanges, and are among the most active members of futures
exchanges in Chicago, New York, London and Singapore.  In
addition to its futures brokerage activities, Refco is a major
broker of cash market products, including foreign exchange,
foreign exchange options, government securities, domestic and
international equities, emerging market debt, and OTC financial
and commodity products.  Refco is one of the largest global
clearing firms for derivatives.

The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts.  Luc
A. Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP,
represents the Official Committee of Unsecured Creditors.  Refco
reported US$16.5 billion in assets and US$16.8 billion in debts
to the Bankruptcy Court on the first day of its chapter 11
cases.  

The Court confirmed the Modified Joint Chapter 11 Plan of
Refco Inc. and certain of its Direct and Indirect Subsidiaries,
including Refco Capital Markets, Ltd., and Refco F/X Associates,
LLC, on Dec. 15, 2006.  That Plan became effective on
Dec. 26, 2007. (Refco Bankruptcy News, Issue No. 58; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/
or 215/945-7000).


REFCO INC: Administrators Want Until Apr. 30 to Object to Claims
----------------------------------------------------------------
RJM LLC, the duly appointed administrator of Refco Inc.'s case,
and Marc S. Kirschner, the duly appointed administrator and
Chapter 11 Trustee of Refco Capital Markets, Ltd.'s estate, ask
the Honorable Robert D. Drain of the U.S. Bankruptcy Court for
the Southern District of New York to extend the Administrative
Claims Objection Deadline through and including April 30, 2007.

Upon the Effective Date of the Chapter 11 Plan filed by Refco
Inc., and its debtor-subsidiaries, the plan administrators
assumed the rights, powers, and duties of the Reorganized
Debtors and RCM on the estates' behalf.

Under the Plan Confirmation Order, the Court set Jan. 25, 2007,
-- 30 days after the Effective Date -- as the deadline to file
an administrative expense priority claim.

Steven Wilamowsky, Esq., at Bingham McCutchen LLP, in New York,
relates that before the expiration of the Administrative Claims
Bar Date, over 200 administrative claims have been filed against
the Refco estates.  

On Feb. 9, 2007, the Plan Administrators, on behalf of Refco F/X
Associates, LLC, objected to approximately 150 administrative
expense claims filed against FXA.

Over the course of the Debtors' Chapter 11 cases, a number of
administrative expense claims have been resolved by Court order
or by consent of the parties, Mr. Wilamowsky notes.

The Plan Administrators continue to reconcile the remaining
Administrative Claims filed against the Chapter 11 estates.

According to Mr. Wilamowsky, the Plan defines "Administrative
Claims Objection Deadline" as the last day for filing an
objection to any request for the payment of an Allowed
Administrative Claim, which will be:

   (a) the later of 60 days after the Effective Date, or 30 days
       after filing an Administrative Claim; or

   (b) other date specified in the Plan or ordered by the
       Court.

Mr. Wilamowsky points out that since the Effective Date occurred
on Dec. 26, 2006, the Administrative Claims Objection
Deadline is presently Feb. 26, 2007, and not Jan. 25, 2007.

The Plan Administrators state that by virtue of filing their
request, the Administrative Claims Objection Deadline is
automatically extended until entry of an order approving or
denying the extension.

The Plan Administrators assert that an extension of the
Administrative Claims Objection Deadline is appropriate to
complete the administrative claims reconciliation process and to
help ensure that all non-meritorious administrative claims are
appropriately challenged.

Furthermore, the Plan Administrators believe that the extension
is particularly important to ensure that no unwarranted
administrative expense claims are allowed simply by virtue of
the passage of time; allowed administrative expense claims are
required to be paid in full under the Plan, and, thus have a
greater relative impact upon recoveries to prepetition unsecured
creditors, who are expected to receive only a fraction of the
allowed amounts of their claims.

While the need to seek additional extensions is not anticipated,
the Plan Administrators reserve the right to seek further
extensions of the Administrative Claims Objection Deadline.

                          About Refco Inc.

Headquartered in New York, New York, Refco Inc. --
http://www.refco.com/-- is a diversified financial services  
organization with operations in 14 countries and an extensive
global institutional and retail client base.  Refco's worldwide
subsidiaries are members of principal U.S. and international
exchanges, and are among the most active members of futures
exchanges in Chicago, New York, London and Singapore.  In
addition to its futures brokerage activities, Refco is a major
broker of cash market products, including foreign exchange,
foreign exchange options, government securities, domestic and
international equities, emerging market debt, and OTC financial
and commodity products.  Refco is one of the largest global
clearing firms for derivatives.

The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts.  Luc
A. Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP,
represents the Official Committee of Unsecured Creditors.  Refco
reported US$16.5 billion in assets and US$16.8 billion in debts
to the Bankruptcy Court on the first day of its chapter 11
cases.  

The Court confirmed the Modified Joint Chapter 11 Plan of
Refco Inc. and certain of its Direct and Indirect Subsidiaries,
including Refco Capital Markets, Ltd., and Refco F/X Associates,
LLC, on Dec. 15, 2006.  That Plan became effective on
Dec. 26, 2007. (Refco Bankruptcy News, Issue No. 58; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/  
or 215/945-7000).


REGENCY EMPLOYMENT: Brings In Liquidators from Harrisons
--------------------------------------------------------
John C. Sallabank and Paul R. Boyle of Harrisons were appointed
joint liquidators of Regency Employment Agency Ltd. on Feb. 28
for the creditors' voluntary winding-up proceeding.

Harrisons -- http://www.harrisons.uk.com/-- provides advice and  
solutions to professional advisors who found their clients
experiencing financial difficulties.  Originally trading from
offices in Reading and has added London, Manchester, Bristol,
and Derby, and has associate offices in Grantham and Stockton on
Tees.   

The company can be reached at:

         Regency Employment Agency Ltd.
         Ferranti House
         Wickentree Lane
         Failsworth
         Manchester     
         Lancashire
         M35 9AY
         England    
         Tel: 0161 652 8111


SAKOONI SWEETS: Appoints I. D. Holland to Liquidate Assets
----------------------------------------------------------
I. D. Holland of Ian Holland + Co. was appointed liquidator of
Sakooni Sweets Ltd. (t/a Sakonis) on Feb. 27 for the creditors'
voluntary winding-up procedure proceeding.

The company can be reached at:

         Sakooni Sweets Ltd.
         127-129 Ealing Road
         Wembley
         Middlesex
         HA0 4BP
         England
         Tel: 020 8903 1058


SAVAGE SHELVING: Taps Liquidators from Deloitte & Touche
--------------------------------------------------------
Stephen Antony John Ramsbottom and Dominic Lee Zoong Wong of
Deloitte & Touche LLP were appointed joint liquidators of Savage
Shelving Ltd. on March 5 for the creditors' voluntary winding-up
procedure.

Deloitte & Touche LLP -- http://www.deloitte.com/-- provides  
audit, tax, consulting, and corporate finance services through
more than 9,000 people in 21 locations.  The group is the United
Kingdom member firm of Deloitte Touche Tohmatsu, a Swiss Verein
whose member firms are separate and independent legal entities.  

The company can be reached at:

         Savage Shelving Ltd.
         Switchboard  
         2 Linden Close  
         Torrington  
         Devon  
         EX387AL  
         England
         Tel: 01805 624 977  
         Fax: 01805 624 320


SEA CONTAINERS: Jan. 31 Balance Sheet Upside-Down by US$166 Mln
---------------------------------------------------------------

                     Sea Containers, Ltd.
                    Unaudited Balance Sheet
                    As of January 31, 2007

                            Assets

Current Assets
   Cash and cash equivalents                      US$54,289,351
   Trade receivables, less allowances
     for doubtful accounts                                    -
   Due from related parties                           7,758,745
   Prepaid expenses and other current assets          6,478,060
                                                   ------------
      Total current assets                        US$68,526,156

Fixed assets, net                                             -

Lont-term equipment sales receivable, net                     -
Investments in group companies                                -
Intercompany receivables                                      -
Investment in equity ownership interests            209,015,333
Other assets                                          3,226,962
                                                   ------------
Total assets                                     US$280,768,451

             Liabilities and Shareholders' Equity

Current Liabilities
   Accounts payable                                US$2,031,753
   Accrued expenses                                  33,996,232
   Current portion of long-term debt                 26,411,239
   Current portion of senior notes                  385,125,608
                                                   ------------
      Total current liabilities                     447,564,832

Total shareholders' equity                         (166,796,381)
                                                   ------------
Total liabilities and shareholders' equity        US$280,768,451

                     Sea Containers, Ltd.
               Unaudited Statement of Operations
             For the Month Ended January 31, 2007

Revenue                                            US$1,450,454

Costs and expenses:
   Operating costs                                     (100,063)
   Selling, general and
     administrative expenses                            892,796
   Reorganization costs                                       -
   Charges to provide against
     intercompany accounts                          (14,914,955)
   Depreciation and amortization                              -
                                                   ------------
      Total costs and expenses                      (14,122,222)
                                                   ------------

Gain or (Loss) on sale of assets                        272,531
                                                   ------------
Operating income (loss)                              15,845,207

Other income (expense)
   Interest income                                        5,393
   Foreign exchange gains or (losses)                   (53,776)
   Interest expense, net                             (3,508,109)
                                                   ------------
Income (Loss) before taxes                           12,288,715
Income tax expense                                     (100,000)
                                                   ------------
Net (Loss)                                        US$12,188,715

Sea Containers, Ltd., also reported US$1,781,721 in cash
receipts and US$1,889,159 in disbursements for January 2007.

                    Sea Containers Services
                    Unaudited Balance Sheet
                    As of January 31, 2007

                            Assets

Current Assets
   Cash and cash equivalents                         US$206,104
   Trade receivables                                    185,845
   Due from related parties                           5,070,228
   Prepaid expenses and other current assets          4,821,696
                                                   ------------
      Total current assets                           10,283,873

Fixed assets, net                                     3,077,947

Investments                                           2,637,008
Intercompany receivables                             43,483,537
Other assets                                          3,654,824
                                                   ------------
Total assets                                      US$63,137,188

             Liabilities and Shareholders' Equity

Current Liabilities
   Accounts payable                                US$2,197,677
   Accrued expenses                                   4,159,988
   Current portion of long-term debt                  1,679,853
                                                   ------------
      Total current liabilities                       8,037,519

Total shareholders' equity                           55,099,669
                                                   ------------
Total liabilities and shareholders' equity        US$63,137,188

                    Sea Containers Services
               Unaudited Statement of Operations
             For the Month Ended January 31, 2007

Revenue                                              US$818,278

Costs and expenses:
   Operating costs                                            -
   Selling, general and
     administrative expenses                            554,441
   Professional Fees                                     68,555
   Other charges                                              -
   Depreciation and amortization                        119,809
                                                   ------------
      Total costs and expenses                          742,805
                                                   ------------

Gains on sale of assets                                       -
                                                   ------------
Operating income (loss)                                  75,474

Other income (expense)
   Interest income                                            -
   Foreign exchange gains (losses)                        5,819
   Interest expense, net                                (13,136)
                                                   ------------
Income (Loss) before taxes                               68,157
Income tax credit                                             -
                                                   ------------
Net Income                                            US$68,157

Sea Containers Services recorded US$1,621,872 in cash receipts
and US$1,473,529 in disbursements for January 2007.

A full-text copy of Sea Containers Services and Sea Containers
Ltd.'s schedules of receipts and disbursements is available for
free at http://researcharchives.com/t/s?1b06   

Sea Containers Carribean, Inc., reported zero assets and
accounts payable of US$3,530,094, as its sole liability, in its
January 2007 balance sheet.

Based in Hamilton, Bermuda, Sea Containers Ltd. (NYSE: SCRA,
SCRB) -- http://www.seacontainers.com/-- provides passenger and  
freight transport and marine container leasing.  Registered in
Bermuda, the company has regional operating offices in London,
Genoa, New York, Rio de Janeiro, Sydney, and Singapore.  The
company is owned almost entirely by United States shareholders
and its primary listing is on the New York Stock Exchange (SCRA
and SCRB) since 1974.  On Oct. 3, 2006, the company's common
shares and senior notes were suspended from trading on the NYSE
and NYSE Arca after the company's failure to file its 2005
annual report on Form 10-K and its quarterly reports on Form 10-
Q during 2006 with the U.S. Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the U.S.

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor
represents the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they reported
US$1.7 billion in total assets and US$1.6 billion in total
debts.  (Sea Containers Bankruptcy News, Issue No. 12;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

The Debtors' exclusive period to file a plan expires on
June 12, 2007.  They have until Aug. 11, 2007, to solicit
acceptances to that plan.


SOLENT INSTALLATIONS: Joint Liquidators Take Over Operations
------------------------------------------------------------
Carl Derek Faulds and James Richard Tickell of Portland Business
& Financial Solutions Ltd. were appointed joint liquidators of
Solent Installations Ltd. on March 2 for the creditors'
voluntary winding-up proceeding.

The company can be reached at:

         Solent Installations Ltd.
         1 Cockbush Cottages
         Woodberry Lane
         Emsworth
         Hampshire
         PO108QN
         England
         Tel: 01243 389 615


SPAGHETTI FOREVER: Creditors' Meeting Slated for March 19
---------------------------------------------------------
Creditors of Spaghetti Forever Ltd. will meet at 11:00 a.m. on
March 19 at the offices of:

         Elliot, Woolfe & Rose
         First Floor
         Equity House
         128-136 High Street
         Edgware
         Middlesex  
         HA8 7TT
         England
   
Melvyn L. Rose of Elliot, Woolfe & Rose will provide creditors
with information concerning the company's affairs.


STANTON JOINERY: Creditors Confirm Liquidators' Appointment
-----------------------------------------------------------
Creditors of Stanton Joinery Ltd. confirmed on Feb. 16 the
appointment of Frank Wessely and Peter James Hughes-Holland of
Vantis as the company's joint liquidators.

Headquartered in United Kingdom, Vantis Plc (fka Vantis
Numerica) -- http://www.vantisplc.com/-- provides accounting,  
business, and tax advisory services in the United Kingdom.

The company can be reached at:

         Stanton Joinery Ltd.
         Unit 1
         Drury Way Industrial Estate
         Laxcon Close
         Brent
         London
         NW100TG
         England
         Tel: 020 8459 5445


STREAMLINE TRAILERS: Taps Liquidators from Abbot Fielding
---------------------------------------------------------
Nedim Ailyan and Andrew Tate of Abbot Fielding were appointed
joint liquidators of Streamline Trailers Ltd. on Feb. 22 for the
creditors' voluntary winding-up proceeding.

The company can be reached at:

         Streamline Trailers Ltd.
         Town wall House
         4 Balkerne Hill
         Colchester
         Essex
         CO3 3AD
         England
         Tel: 01206 307 788
         Fax: 01206 307 878


TEESIDE GAS: Creditors Set March 30 to Vote on Scheme
-----------------------------------------------------
Creditors holding claims against Teeside Gas Transportation Ltd.
will meet at 10:30 a.m. on March 30 to consider and approve a
scheme of arrangement between the company and its creditors, and
Enron Capital & Trade Resources Ltd., pursuant to Section 425 of
the Companies Act 1985.

The meeting will be held at:

         Plumtree Court
         London EC4A 4HT
         United Kingdom

A scheme of arrangement becomes legally binding when:

  (a) a majority in number representing not less than 75% in
      value of creditors vote in favor of the scheme;

  (b) the court subsequently enters an order sanctioning the
      scheme of arrangement; and

  (c) a copy of that order is delivered to the registrar of
      companies for registration.

Copies of the Scheme, the Information Memorandum, and blank
Forms of Proxy and Voting Forms may be obtained at:

         The Scheme Company
         Attn: Jeff Drew or Steve Blakeley
         c/o Akin Gump Strauss Hauer & Feld
         Citypoint Level 32
         One Ropemaker Street
         London EC2Y 9AW
         United Kingdom
         Fax: +44 (0) 2070 129 601

Forms may also be handed in at the registration desk before the
Creditors' Meeting.  Faxed Forms of Proxy and Voting forms will
be accepted if legible but Scheme Creditors are requested to
send the originals, to be received by the Scheme Company not
later than 10:30 a.m. on March 28.

The Royal Courts of Justice appointed Anthony Brereton or,
failing him, Richard Harper, to act as chairman of the
Creditors' Meeting and has directed the chairman of the
Creditors' Meeting to report the result of the Creditors'
Meeting to Court.

If approved by the requisite majority of Scheme Creditors, the
Scheme will be subject to the subsequent approval of the Court.  
All Scheme Creditors are entitled to attend the Court hearing in
person or through counsel to support or oppose the sanctioning
of the Scheme of Arrangement.

The Court will convene a hearing to consider the approval of the
Scheme of Arrangement on April 19 at:

         The Royal Courts of Justice
         Strand
         London WC2A 2LL
         United Kingdom


UNIVERSITY MEDIA: Asher Miller Leads Liquidation Procedure
----------------------------------------------------------
Asher Miller of David Rubin & Partners was appointed liquidator
of University Media Ltd., Itchy Media Ltd., and IMD Mindset Ltd.
on March 1 for the creditors' voluntary winding-up procedure.

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

The liquidator can be reached at:

         Asher Miller
         David Rubin & Partners
         Pearl Assurance House
         319 Ballards Lane
         London  
         N12 8LY
         England


WARNER MUSIC: Prepares Fresh Takeover Approach for EMI
------------------------------------------------------
Warner Music Group CEO Edgar Bronfman Junior is prepared to draw
a fresh takeover bid for EMI Group Plc, on condition that EMI
will consider a revised offer, reports say.

EMI rejected Warner's GBP2.1 billion non-binding takeover bid on
March 2, saying that the price of 260 pence per share in cash
for EMI is inadequate.

Warner approached EMI on Jan. 24, after it obtained the support
of Brussels-based Impala, a trade group for independent European
record labels ending its opposition to a Warner-EMI merger.  
Warner clarified Feb. 21 that any possible takeover offer for
EMI is likely to be solely in cash.

Analysts believed that an EMI-Warner merger could generate cost
savings of about GBP150 million a year.

EMI issued two profit warnings since January 2007.

                         About EMI

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

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

                    About Warner Music Group

Warner Music Group Corp. (NYSE: WMG) -- http://www.wmg.com/--  
is a music company that operates through numerous international
affiliates and licensees in more than 50 countries, including
the Philippines.

                         *     *     *

As reported in the TCR-Europe on March 1, Standard & Poor's
Ratings Services placed its ratings on Warner Music Group Corp.,
including the 'BB-' corporate credit rating, on CreditWatch with
negative implications, following the company's statement that it
is exploring a possible merger agreement with EMI Group PLC (BB-
/Watch Neg/B), which EMI management has confirmed.

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


WESTMORELAND TRUCK: Joint Liquidators Take Over Operations
----------------------------------------------------------
Matthew Colin Bowker and David Antony Willis of Jacksons
Jolliffe Cork were appointed joint liquidators of Westmoreland
Truck Bodies Ltd. on Feb. 28 for the creditors' voluntary
winding-up proceeding.

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

The company can be reached at:

         Westmoreland Truck Bodies Ltd.
         19 Cumberland Street
         Hull
         North Humberside
         HU2 0QB
         England
         Tel: 01482 329 062
         Fax: 01482 329 062


WIRELESS HOMES: Creditors Ratify Voluntary Liquidation
------------------------------------------------------
Creditors of Wireless Homes Ltd. ratified on Feb. 28 the
company's resolution for voluntary liquidation and the
appointment of Alan H. Tomlinson of Tomlinsons as liquidator.

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.

The company can be reached at:

         Wireless Homes Ltd.
         334 Wellington Road North
         Stockport
         Cheshire
         SK4 5DA
         England
         Tel: 0161 282 4519

                           *********

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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