TCREUR_Public/070326.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

             Monday, March 26, 2007, Vol. 8, No. 60     

                            Headlines


A U S T R I A

CLASSICO WORLDWIDE: Claims Registration Period Ends April 10
E. & H. KOELLNER: Claims Registration Period Ends April 11
FESTUNGSVERLAG LLC: Claims Registration Period Ends April 18
GEBAUDE UND LIEGENSCHAFT: Vienna Court Orders Business Shutdown
JUTTA VARGA: Vienna Court Orders Business Shutdown

LOUNGERIE GASTRO: Claims Registration Period Ends May 2
PONTARIA MOEBELTECHNIK: Claims Registration Period Ends April 10
SALE4U LLC: Estate Administrator Declares Insufficient Assets


B E L G I U M

GOODYEAR TIRE: Refinancing US$2.7-Bln & EUR505-Mln Credit Loan


C Y P R U S

SHIP FINANCE: Buys Three Seismic Vessels from SCAN Geophysical


C Z E C H   R E P U B L I C

CZECH AIRLINES: Czech Transport Ministry To Acquire 35% from CKA


F R A N C E

DURALEX INTERNATIONAL: Orleans Court Delays Ruling to March 30
GRAFTECH INT'L: Dec. 31 Balance Sheet Upside-Down By US$113.9MM


G E R M A N Y

APOLLO VIERZIG: Claims Registration Period Ends April 30
B & S DENTALTECHNIK: Claims Registration Period Ends April 10
BACKEREI UND KONDITOREI: Creditors Must File Claims by April 30
BENQ CORP: Mobile Unit to Seek EUR500-Mln Claim Against Parent
BLUE SKY: Claims Registration Period Ends April 20

CASA BAUKONZEPT: Claims Registration Period Ends April 30
DACHDECKEREI BOSBACH: Claims Registration Period Ends April 25
DAIMLERCHRYSLER AG: Plans to Keep Chrysler Ties Following Sale
E & E INGENIEURBAU: Claims Registration Period Ends May 4
ECKHARD HENN: Claims Registration Period Ends May 9

EDVEX GMBH: Claims Registration Period Ends April 24
ERICH ROHDE: In Talks with Parties Over Restructuring Plan
GBB GESELLSCHAFT: Claims Registration Period Ends April 23
HENGST FENSTER: Creditors Must Register Claims by April 15
HJL HEIZUNGSBAU: Creditors Must Register Claims by April 30

INNOVA GESELLSCHAFT: Creditors Must Register Claims by April 20
KALTNER GMBH: Claims Registration Ends April 30
KATEX BEKLEIDUNG: Creditors' Meeting Slated for April 4
OECONOMIC GMBH: Creditors' Meeting Slated for April 3
R.E.D. DIETRICH: Claims Registration Ends May 21

RANSBERGER & WIDMANN: Claims Registration Ends April 27
RENT A NURSE: Claims Registration Ends April 24
SOLL & HABEN: Claims Registration Ends May 11
STEMOTEC GMBH: Creditors' Meeting Slated for April 25
STUKKATEURBETRIEB JAKOB: Creditors' Meeting Slated for April 24

TYPE DESIGN: Claims Registration Period Ends April 25
VIPBA GMBH: Claims Registration Period Ends April 30
WCM BETEILIGUNGS: To Sell Stakes in Maternus-Kliniken and YMOS


I T A L Y

ALITALIA SPA: Management & Capitali Group Skips Due Diligence
DANA CORP: Unit Amends Joint Venture Agreement with Dongfeng
PARMALAT SPA: Converted Warrants Hike Share Capital by EUR6 Mln
PARMALAT SPA: Eyes Acquisitions and Investments for 2007
PARMALAT SPA: Distributing EUR0.025 Per Share Dividend

POPOLARE ITALIANA: To Write Off EUR104-Mln Loan to Stichting


K A Z A K H S T A N

AK-SUNKAR LLP: Creditors Must File Claims by May 2
ALATAU LLP: Creditors' Claims Due May 2
ALTYN-NUR LLP: Proof of Claim Deadline Slated for May 2
ASIA-REMTECHSERVICE LLP: Claims Registration Ends May 8
BAILYK LLP: Claims Filing Period Ends May 8

BESKON LLP: Creditors Must File Claims by May 8
D&H LLP: Claims Registration Period Ends May 4
SHOSH-TRANS CJSC: Proof of Claim Deadline Slated for May 2
TALGAT-INVEST LLP: Claims Registration Ends May 1


K Y R G Y Z S T A N

JACKSON CENTRAL: Creditors Must File Claims by May 8
RAMZDEN-TRANS LLC: Claims Filing Period Ends May 8


L U X E M B O U R G

GATE GOURMET: S&P Lifts Ratings to B on Operating Performance


N E T H E R L A N D S

ARES EURO: Moody's Rates EUR6-Million Class F Notes at (P)B2
RESOURCE EUROPE: Moody's Rates EUR6.35-M Class E Notes at (P)Ba3


P O L A N D

AFFILIATED COMPUTER: Shareholders File Suit to Prevent Buyout


R U S S I A

AGRO-INVEST LLC: Creditors Must File Claims by April 10
CONTRACT CJSC: Creditors Must File Claims by May 10
FACTORY PLAST: Creditors Must File Claims by April 10
GAZPROMBANK OAO: Selling Three-Year Floating-Rate Bonds
HYDROSPETSSTROY LTD: Insolvency Sets off Auction of All Assets

KAMESHKOVSKIY TIMBER: Bankruptcy Hearing Slated for May 31
KHAKAS-KUZBAS-COAL: Court Names D. Shitoev as Insolvency Manager
MILK OJSC: Omsk Bankruptcy Hearing Slated for June 5
MOSENERGO: S&P Keeps B Rating on CreditWatch After Share Issue
ORLOVSKIY OJSC: Creditors Must File Claims by May 10

PROMTORGBANK: Moody's Cuts Rating to B3 on Weak Financial Result
REINFORCED CONCRETE: Creditors Must File Claims by April 10
RUSSIAN VENTILATOR: Creditors Must File Claims by April 10
SARANSKIY WOODWORKING: Creditors Must File Claims by May 10
SARATOV-AUTO-TRANS: Creditors Must File Claims by May 10

STARO-STEKLYANNIY DISTILLERY: Asset Sale Slated for April 10
UST'-KUT-REM-SNAB: Creditors Must File Claims by April 10
VYAZNIKI-SEL-KHOZ-KHIMIYA: Claims Filing Period Ends April 10
YUZHNOYE OJSC: Creditors Must File Claims by April 10


S W I T Z E R L A N D

ALIPES JSC: Creditors' Liquidation Claims Due April 12
ASTRASOL JSC: Creditors' Liquidation Claims Due April 10
CARAVAN CENTER: Claims Registration Period Ends April 2
CHB JSC: Creditors' Liquidation Claims Due April 10
ED. STURZENEGGER JSC: Creditors' Liquidation Claims Due April 15

JOST HAMMER: Creditors' Liquidation Claims Due April 30
KURIGER WOHNEN: Creditors' Liquidation Claims Due April 2
LOGICOM HANDELS: Creditors' Liquidation Claims Due April 10
OKS SCHOCH: Claims Registration Period Ends April 2
ROTHLISBERGER TRANSPORTE: Liquidation Claims Due April 5


T U R K E Y

TURKIYE GARANTI: Inks Share Purchase Deal with Eureko B.V.
TURKIYE GARANTI: Shareholders' Meeting Slated for April 17


U K R A I N E

BREAD-EXPORT LLC: Sumy Court Starts Bankruptcy Proceedings
DESSAU LLC: Zaporozhje Court Starts Bankruptcy Proceedings
DIAPAZON OJSC: Rovno Court Starts Bankruptcy Proceedings
IMEXPROM LLC: Creditors Must File Proofs of Claim by March 29
KERCH AUTOGASSERVICE: Court Starts Bankruptcy Proceedings

KIEVINVESTGAS LLC: Kiev Court Starts Bankruptcy Proceedings
KRYSKI ALCOHOL: Chernigov Court Starts Bankruptcy Proceedings
MOLODETSKOE LLC: Cherkassy Court Starts Bankruptcy Supervision
NVP KIEV: Creditors Must File Proofs of Claim by March 29
PROD-IMPEX LLC: Court Renews Bankruptcy Supervision Process

ROZMETAL LLC: Dnipropetrovsk Court Starts Bankruptcy Proceedings
STELLA LLC: Creditors Must File Proofs of Claim by March 29
TRADE HOUSE: AR Krym Court Starts Bankruptcy Proceedings
UKRAINIAN TRADE: Zaporozhje Court Starts Bankruptcy Proceedings
QUINTA AND K: Rovno Court Starts Bankruptcy Proceedings

ZOLOTONOSHA SHEVCHENKO: Court Starts Bankruptcy Supervision


U N I T E D   K I N G D O M

BLANDFORD DIRECT: Appoints BDO Stoy as Joint Administrators
BRITISH WOODWARES: Creditors' Meeting Slated for March 30
BROOKS HAMMOND: Creditors' Meeting Slated for April 12
CHANAZ LTD: High Court to Hear Wind-Up Petition on May 14
COLLINS & AIKMAN: Court Okays CB Richard's Employment Agreement

COLLINS & AIKMAN: Still Unable to File Financial Reports
CORONIS PLC: Fitch Upgrades GBP13.7-Million Class F Notes to B
COUNTRYCARE FARM: Creditors' Meeting Slated for April 3
DAVRO COMMERCIAL: Creditors' Meeting Slated for April 12
DBSXMEDIA LTD: Taps Liquidators from Begbies Traynor

DKLL SOLICITORS: Taps BDO Stoy to Administer Assets
ELLIOT TAYLOR: Names David Jenner Cork Liquidator
EUROFRESH DESIGNS: Creditors' Meeting Slated for April 4
EUROPA TWO: S&P Affirms BB Ratings on Class E Notes
FELL ARTHUR: Brings In Joint Administrators from Baker Tilly

FIRST INSTALL: High Court to Hear Wind-Up Petition on May 14
HOLLY CONSTRUCTION: Creditors' Meeting Slated for March 30
HURST PARNELL: Creditors' Meeting Slated for April 3
INNKING LTD: Creditors' Meeting Slated for April 5
ITRON INC: S&P Holds Watch Negative Pending Actaris Acquisition

JI ENTERTAINMENT: Brings In Ernst & Young as Administrators
JOEY LOONS: Claims Filing Period Ends April 11
LONDON AND EDINBURGH INNS: Calls In Liquidators from E&Y
MACROMEDIA EUROPE: Claims Filing Period Ends April 26
MICHAEL COSTER: Hires Liquidators from Baker Tilly

MWMS SERVICES: Appoints Joint Administrators from PwC
NAVISITE INC: Jan. 31 Balance Sheet Upside-Down by US$1.67 Mln
OPUS RECRUITMENT: Creditors Confirm Liquidator's Appointment
PENNY PLAIN: Brings In Joint Administrators from BDO Stoy
PPA UK: High Court Closes Down Business

PUBLICATIONS LTD: High Court Closes Down Business
RILEY DUNN: Brings In Tenon Recovery to Administer Assets
ROYAL & SUN: Unveils Scrip Dividend Scheme for Ordinary Shares
SCANNER DRUM: Joint Liquidators Take Over Operations
SMART CARD: Taps Andrew McTear to Liquidate Assets

SOLO SERVICES: Creditors' Meeting Slated for March 29
STADEX INDUSTRIES: Brings In Administrators from KPMG
STARFISH CHILDRENS: Creditors' Meeting Slated for April 11
SWIFT CONSTRUCTION: Appoints Liquidator from Cooper Young
TALISMAN-6 FINANCE: S&P Rates EUR15.5-Mln Class F Notes at BB

TRIDENT WINDOWS: Claims Filing Period Ends June 16
TRIO PLUS: Joint Liquidators Take Over Operations
WARD LONGWORTH: Creditors' Meeting Slated for April 10

* BOND PRICING: For the Week March 19 to March 23, 2007

                            *********

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


CLASSICO WORLDWIDE: Claims Registration Period Ends April 10
------------------------------------------------------------
Creditors owed money by LLC Classico Worldwide (FN 240506k) have
until April 10 to file written proofs of claim to court-
appointed estate administrator Karl Safron at:

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

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on April 16 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Klagenfurt
         Hall 225
         Second Floor
         Klagenfurt
         Austria

Headquartered in Pischeldorf, Austria, the Debtor declared
bankruptcy on March 6 (Bankr. Case No. 41 S 17/07h).


E. & H. KOELLNER: Claims Registration Period Ends April 11
----------------------------------------------------------
Creditors owed money by LLC E. & H. Koellner (FN 62045v) have
until April 11 to file written proofs of claim to court-
appointed estate administrator Herbert Nigl at:

         Mag. Herbert Nigl
         c/o Mag. Horst Winkelmayr
         Hauptplatz 15
         2100 Korneuburg
         Austria
         Tel: 02262/724 35
         Fax: 02262/724 35 50
         E-mail: rae@kniwi.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:20 a.m. on April 25 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Korneuburg
         Room 204
         Second Floor
         Korneuburg
         Austria

Headquartered in Stockerau, Austria, the Debtor declared
bankruptcy on March 6 (Bankr. Case No. 36 S 29/07t).  Horst
Winkelmayr represents Mag. Nigl in the bankruptcy proceedings.


FESTUNGSVERLAG LLC: Claims Registration Period Ends April 18
------------------------------------------------------------
Creditors owed money by LLC Festungsverlag (FN 190127z) have
until April 18 to file written proofs of claim to court-
appointed estate administrator Dominik Baurecht at:

         Mag. Dominik Baurecht
         Attn: Dr. Wolfgang Gerhard Zorn
         Weihburggasse 4
         1010 Vienna
         Austria
         Tel: 533 66 61-71
         Fax: 533 66 61-10
         E-mail: baurecht@gnbz.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on May 2 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 March 2 (Bankr. Case No. 4 S 24/07t).  Wolfgang Gerhard Zorn
represents Mag. Baurecht in the bankruptcy proceedings.


GEBAUDE UND LIEGENSCHAFT: Vienna Court Orders Business Shutdown
---------------------------------------------------------------
The Trade Court of Vienna entered on March 6 an order shutting
down the business of LLC Gebaude und Liegenschaft Service (FN
265951f).

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

The estate administrator can be reached at:

         Dr. Kurt Freyler
         c/o Dr. Hans Rant
         Seilerstatte 5
         1010 Vienna
         Austria
         Tel: 513 31 65
         Fax: 512 20 01
         E-mail: ra-kanzlei@rant-freyler.at  

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Feb. 26 (Bankr. Case No. 4 S 23/07w).  Hans Rant represents
Dr. Freyler in the bankruptcy proceedings.


JUTTA VARGA: Vienna Court Orders Business Shutdown
--------------------------------------------------
The Trade Court of Vienna entered on March 2 an order shutting
down the business of LLC Jutta Varga (FN 152297t).

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

The estate administrator can be reached at:

         Dr. Ute Toifl
         Tuchlauben 12/20
         1010 Vienna
         Austria
         Tel: 535 46 11
         Fax: 535 46 11 11
         E-mail: office@thr.at

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on March 1 (Bankr. Case No. 28 S 23/07x).


LOUNGERIE GASTRO: Claims Registration Period Ends May 2
-------------------------------------------------------
Creditors owed money by LLC Loungerie Gastro (FN 264515v) have
until May 2 to file written proofs of claim to court-appointed
estate administrator Wolfgang Pils at:

         Dr. Wolfgang Pils
         Graben 19
         4020 Linz
         Austria
         Tel: 77 33 68-74
         Fax: 77 33 68
         E-mail: ra.dr.pils@aon.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on May 14 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Linz
         Room 522
         Fifth Floor
         Linz
         Austria

Headquartered in Leonding, Austria, the Debtor declared
bankruptcy on March 6 (Bankr. Case No. 12 S 26/07x).


PONTARIA MOEBELTECHNIK: Claims Registration Period Ends April 10
----------------------------------------------------------------
Creditors owed money by LLC Pontaria Moebeltechnik (FN 269475m)
have until April 10 to file written proofs of claim to court-
appointed estate administrator Gottfried Berdnik at:

         Dr. Gottfried Berdnik
         Schloegelgasse 1
         8010 Graz
         Austria
         Tel: 0316/832527
         Fax: 0316/814315
         E-mail: graz@hba.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 2:00 p.m. on April 26 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Graz
         Room 230
         Hall L
         Second Floor
         Graz
         Austria

Headquartered in Graz, Austria, the Debtor declared bankruptcy
on March 6 (Bankr. Case No. 25 S 25/07z).


SALE4U LLC: Estate Administrator Declares Insufficient Assets
-------------------------------------------------------------
Mag. Stefan Jahns, the court-appointed estate administrator for
LLC sale4U (FN 242610f), declared March 5 that the Debtor's
property is insufficient to cover creditors' claim.

The Trade Court of Vienna is yet to rule on the property
manager's claim.

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Feb. 13 (Bankr. Case No. 6 S 16/07f).  Michael Neuhauser
represents Mag. Jahns in the bankruptcy proceedings.

The estate administrator can be reached at:

         Mag. Stefan Jahns
         c/o Mag. Michael Neuhauser
         Esslinggasse 9
         1010 Vienna
         Austria
         Tel: 536 50-0
         Fax: 536 50-14
         E-mail: officewien@aaa-law.at


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


GOODYEAR TIRE: Refinancing US$2.7-Bln & EUR505-Mln Credit Loan
--------------------------------------------------------------
The Goodyear Tire & Rubber Company intends to refinance its
principal credit facilities, including:

   * a US$1.5-billion first-lien credit facility due April 30,
     2010;

   * a US$1.2-billion second-lien term loan facility due
     April 30, 2010; and

   * a EUR505-million credit facility for the company's Goodyear
     Dunlop Tires Europe affiliate due April 30, 2010.

Goodyear expects to amend, restate and extend these facilities
to provide for:

   * a US$1.5-billion first-lien credit facility due in 2013;

   * a US$1.2-billion second-lien term loan due in 2014; and

   * a EUR505-million European revolving credit facility due in
     2012.

The transaction is subject to normal conditions and the
execution of definitive documentation.  The facilities are
expected to close in April.

                      Low-B Ratings Affirmed

Last week, Fitch Ratings affirmed its ratings for The Goodyear
Tire & Rubber Company, including the 'B' rating on the company's
US$300-million third lien term loan, and 'CCC+' rating on its
senior unsecured debt.  The rating agency revised the rating
outlook to stable from negative.

Fitch noted that at Dec. 31, 2006, the company had approximately
US$7.2 billion of debt outstanding, prior to a paydown of bank
debt in January.

The revision to a Stable Outlook, Fitch said, reflects its
expectation for further improvement in the company's operating
profile as it recovers from the labor strike and continues to
implement its cost-savings plan.

In addition, Fitch noted that the company faces significant cash
requirements that could contribute to negative cash flow in
2007.  The requirements, the rating agency said, include pension
contributions, capital expenditures, an increase in working
capital requirements as the company rebuilds inventory, and debt
and interest payments.  

Fitch's other rating concerns include an improving but still
high cost structure in North America, high raw material costs,
weak demand in North America, and competitive pricing in certain
other markets.

Moody's Investors Service affirmed Goodyear Tire & Rubber
Company's Corporate Family Rating of B1 on Jan. 12.  Ratings on
Goodyear's existing secured and unsecured obligations were also
affirmed as was the company's Speculative Grade Liquidity rating
of SGL-2.  The outlook was reverted to stable from negative.

On Jan. 8, 2007, Standard & Poor's Ratings Services affirmed its
'B-' ratings on the class A-1 and A-2 certificates from the
US$46 million Corporate Backed Trust Certificates Goodyear Tire
& Rubber Note-Backed Series 2001-34 Trust.  The ratings were
removed from CreditWatch, where they were placed with negative
implications on Oct. 24, 2006.

             About The Goodyear Tire & Rubber Company

Headquartered in Akron, Ohio, The Goodyear Tire & Rubber Company
(NYSE: GT) -- http://www.goodyear.com/-- is the world's largest  
tire company.  The company manufactures tires, engineered rubber
products and chemicals in more than 90 facilities in 28
countries.  Goodyear Tire has marketing operations in almost
every country around the world including Chile, Colombia,
Guatemala and Peru in Latin America.  Goodyear employs more than
80,000 people worldwide.  The company's European operation is
headquartered in Belgium.


===========
C Y P R U S
===========


SHIP FINANCE: Buys Three Seismic Vessels from SCAN Geophysical
--------------------------------------------------------------
Ship Finance International Ltd. has agreed to acquire three new
building seismic vessels from SCAN Geophysical ASA based on a
total delivered price of US$210 million, or US$70 million per
vessel, including complete seismic equipment.

SCAN is a seismic data acquisition company, with a current fleet
of three seismic vessels in addition to the vessels Ship Finance
has agreed to acquire.  SCAN is listed on the OTC-list in Norway
with a market capitalization of approximately US$270 million,
and the management team has extensive experience in the offshore
seismic market.  A listing on the Oslo Stock Exchange is
expected during 2007.

The vessels are being constructed at the ABG Shipyard in India
and delivery is scheduled for January, April, and July 2008.  
The vessels are purpose built, specifically designed for
efficient 3D seismic acquisition with high streamer capacity
with 10 tow points and streamer lengths of up to 10 km (for 8
streamer configuration). SCAN plans to deploy the vessels in the
high-end 3D contract seismic market to third party clients
internationally within the oil and gas industry.  Currently, the
market for modern 3D seismic vessels is very strong.

Ship Finance is financing the transaction through a senior loan
facility of US$120 million (US$40 million per vessel) and an
equity contribution of US$30 million (US$10 million per vessel).
SCAN will provide a non-interest bearing seller's credit of
US$60 million (US$20 million per vessel).

Upon delivery from the shipyard, the vessels will commence 12-
year bareboat contracts to SCAN, and the charter rate per vessel
payable to Ship Finance to service the net investment of US$50
million per vessel is agreed to be approx.:

      Year 1-3:         US$26,500 per day
      Year 4-6:         US$24,500 per day
      Year 7-12:        US$10,000 per day

The seller's credit from SCAN will be fully amortized over the
first six years after delivery through a non-cash additional
charter rate of US$9,132 per day for each vessel.

The Charterer has been granted fixed price purchase options for
each of the vessels after 6, 10, and 12 years at approximately
US$20 million, US$14 million, and US$9 million, respectively.  
The charter contracts are on bareboat basis and SCAN will
therefore be responsible for all operating and maintenance costs
during the charter period.

During the first six years of the charters, the annual repayment
of debt for the three vessels is approximately US$13.7 million
(US$4.57 million per vessel), giving an average annual net cash
contribution after estimated interest expense and debt repayment
of approximately US$0.12 per share.

Similar to all our recent acquisitions, the purchase of the
vessels and corresponding financing will be in separate
subsidiaries, and Ship Finance's guarantee obligation will be
US$16.3 million per vessel prior to delivery, which will then be
reduced to US$10 million per vessel after delivery from the
shipyard.

This transaction is another verification of the Company's
strategy to diversify both the asset base and customer
portfolio.  There is a high activity level in the offshore-
related markets with significant cash flows and a positive
market outlook.  The company anticipates further growth
opportunities in this segment.

Including new buildings and adjusted for announced sales, the
Company's fleet will consist of 60 vessels, essentially all on
medium to long-term charters.

                        About Ship Finance

Headquartered in Bermuda, Ship Finance International Limited --
http://www.shipfinance.org/-- through its subsidiaries engages  
in the ownership and operation of oil tankers, including
oil/bulk/ore (OBO) carriers.  The company operates through
subsidiaries and partnerships located in Bermuda, Cyprus, Isle
of Man, Liberia, Norway, and Singapore.

It is also involved in the charter, purchase, and sale of
vessels.

                          *     *     *

Moody's Investors Service affirmed Ship Finance International
Ltd.'s ratings, including the Ba3 Corporate Family Rating, the
Ba2 Senior Secured Bank Credit Facilities and the B1 Senior
Unsecured Notes rating.  Moody's said the ratings outlook
remains stable.


===========================
C Z E C H   R E P U B L I C
===========================


CZECH AIRLINES: Czech Transport Ministry To Acquire 35% from CKA
----------------------------------------------------------------
The Czech Republic's Transport Ministry plans to purchase 35% of
Czech Airlines from bailout agency CKA, which will be dissolved
at the end of 2007, Transport Minister Ales Rebicek told Czech
News Agency.

According to the report, Mr. Rebicek and Finance Minister
Miroslav Kalousek are holding talks on the exercise of
shareholder rights, through which both of them get to decide on
the privatization of the carrier.

The Finance Ministry holds a 57% stake in the national carrier,
while minority shareholders include Ceska pojistovna, Prague,
and Bratislava, Czech News Agency states.

                      About Czech Airlines

Headquartered in Prague, Czech Republic, Czech Airlines, a.k.a.
Ceske Aerolinie AS -- http://www.csa.cz/-- is the largest  
national carrier of the new EU member countries according to the
number of passengers carried.

In 2005, the airline carried a record of more than 5 million
passengers.  Since 2001, it has been a member of SkyTeam, one of
the leading global airline alliances.  CSA currently offers
connections to 120 destinations in 45 countries worldwide.  The
fleet contains 50 aircraft - ATR 42's/72's, Boeing 737's, and
Airbus A310/A320/A321's.

CSA reported an unaudited loss of CZK397 million (EUR14 million)
against an expected loss of CZK493 million (EUR18 million) in
2006.  The company posted a CZK496 million (EUR18 million) net
loss in 2005.  Revenues of CZK14.5 billion (EUR517 million) from
regular flights accounted for the bulk of the airline's total
revenues, which increased by CZK1.3 billion (EUR46 million) to
almost CZK23.5 billion (EUR837 million) in 2006.


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


DURALEX INTERNATIONAL: Orleans Court Delays Ruling to March 30
--------------------------------------------------------------
The commercial court in Orleans postponed judgment on Duralex
International France until March 30, Le Figaro reports.

As reported in the Troubled Company Reporter-Europe on March 21,
the troubled glass maker sits on the edge of a liquidation
proceeding after owner Sinan Solmaz failed to raise EUR1.2
million to pay off the company's debts.

Mr. Solmaz accumulated an EUR8-million debt on top of the
liabilities turned over by previous owners, when he acquired the
company in December 2005.

According to Le Figaro, Mr. Solmaz denied that the company is
bankrupt.

Headquartered in La Chapelle Saint-Mesmin, France, Duralex
International France specializes in making glass.  It has 350
employees.  

In June 2005, the commercial court in Orleans placed the company
into court-supervised administration.  Mr. Solmaz, then
shareholder in Duralex, presented the magistrates with a three-
year plan involving injections of capital during 2006.  

The court approved the rescue package in December 2005.


GRAFTECH INT'L: Dec. 31 Balance Sheet Upside-Down By US$113.9MM
---------------------------------------------------------------
GrafTech International Ltd. reported net income of US$91.3
million on net sales of US$885.4 million for the year ended
Dec. 31, 2006, compared with a net loss of US$125.2 million on
net sales of US$773 million for the year ended Dec. 31, 2005.

Net sales increased 11 percent, to US$855.4 million, versus 2005
net sales of US$773 million.  Graphite electrode sales volume
increased 5 percent to 211 thousand metric tons, versus 201
thousand metric tons in 2005.

Gross profit increased 14 percent, to US$249.3 million or 29.1
percent of net sales, as compared to US$219.2 million, or 28.4
percent of net sales, in 2005.

Income from continuing operations was US$42.4 million, versus a
net loss from continuing operations of US$120.5 million in 2005.

Income from discontinued operations, which includes the gain
from sale of discontinued operations of US$58.6 million in 2006,
was US$48.9 million, versus a loss from discontinued operations
in 2005 of US$4.6 million.

Net cash provided by operating activities was US$64.2 million,
versus US$8 million in 2005.

Craig Shular, chief executive officer of GrafTech, commented:
"Our team made significant progress in 2006 toward our stated
goal of debt reduction.  The sale of our non-strategic cathode
business together with strong operating cash flow performance
allowed us to complete the year with net debt below US$510
million, better than our original target.

"This represents a US$180 million improvement in net debt and
nearly a US$100 million improvement in free cash flow year over
year and positions the company well as we move into 2007."

At Dec. 31, 2006, the company's balance sheet showed
US$906.2 million in total assets, US$1.016 billion in total
liabilities, and US$3.7 million in minority stockholders' equity
in consolidated entities, resulting in a US$113.9 million total
stockholders' deficit.

Full-text copies of the company's consolidated financial
statements for the year ended Dec. 31, 2006, are available for
free at http://researcharchives.com/t/s?1be1  

                      Discontinued Operations

On Dec. 5, 2006, the company completed the sale of its 70%
equity interest in Carbone Savoie and other assets used in and
liabilities related to its former cathode business to Alcan
France, for approximately US$135 million less certain price
adjustments and the purchaser's assumption of liabilities.  

                          About GrafTech

Based in Parma, Ohio, GrafTech International Ltd. (NYSE: GTI) --
http://www.graftechaet.com/-- manufactures and providess high  
quality synthetic and natural graphite and carbon based products
and technical and research and development services, with
customers in 80 countries engaged in the manufacture of steel,
automotive products and electronics.  The company manufactures
graphite electrodes, products essential to the production of
electric arc furnace steel.  The company also manufactures
thermal management, fuel cell, and other specialty graphite and
carbon products for, and provides services to, the electronics,
power generation, semiconductor, transportation, petrochemical
and other metals markets.  GrafTech operates 11 state of the art
manufacturing facilities strategically located on four
continents.  In Europe, Graftech maintains operations facilities
and/or sales offices in Russia, France, Spain, Italy and
Switzerland.

                          *    *    *

As reported in the Troubled Company Reporter on Nov. 9, 2006,
Moody's Investors Service affirmed its B1 Corporate Family
Rating for Graftech International Ltd.


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


APOLLO VIERZIG: Claims Registration Period Ends April 30
--------------------------------------------------------
Creditors of Apollo Vierzig GmbH have until April 30 to register
their claims with court-appointed insolvency manager Dirk-
Henning Toennesmann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on June 6, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Bonn
         Hall S 2.18
         Second Floor
         William-Strasse 23
         53111 Bonn
         Germany

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

The insolvency manager can be contacted at:

         Dirk-Henning Toennesmann
         Josef-Ruhr-Str. 30
         53879 Euskirchen
         Germany
         Tel: 02251/65081-22
         Fax: 02251/65081-25

The District Court of Bonn opened bankruptcy proceedings against
Apollo Vierzig GmbH on March 13.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         Apollo Vierzig GmbH
         Hochstr. 20/22
         53879 Euskirchen
         Germany

         Attn: Silke Gross, Manager
         Rhederstr. 15 A
         53881 Euskirchen
         Germany


B & S DENTALTECHNIK: Claims Registration Period Ends April 10
-------------------------------------------------------------
Creditors of B & S Dentaltechnik GmbH have until April 10 to
register their claims with court-appointed insolvency manager
Rolf G. Pohlmann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:05 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 Munich
         Meeting Hall 101
         Infanteriestr. 5
         80097 Munich
         Germany

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

The insolvency manager can be contacted at:

         Rolf G. Pohlmann
         Richard-Strauss-Str. 69
         81677 Munich
         Germany
         Tel: (089)548033-0
         Fax: (089)548033-111

The District Court of Munich opened bankruptcy proceedings
against B & S Dentaltechnik GmbH on March 14.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         B & S Dentaltechnik GmbH
         Oberseestr. 32
         81825 Munich
         Germany


BACKEREI UND KONDITOREI: Creditors Must File Claims by April 30
----------------------------------------------------------------
Creditors of Backerei und Konditorei Fausto Giampietro GmbH have
until April 30 to register their claims with court-appointed
insolvency manager Hermann Wittebrock.

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

The meeting of creditors will be held at:

         The District Court of Saarbruecken
         Area Hall 13
         First Floor
         Vopeliusstrasse 2
         66280 Sulzbach
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Hermann Wittebrock
         Pestelstrasse 4
         66119 Saarbruwcken
         Germany
         Tel: (0681) 581151
         Fax: (0681) 581165

The District Court of Saarbruecken opened bankruptcy proceedings
against Backerei und Konditorei Fausto Giampietro GmbH on March
19.  Consequently, all pending proceedings against the company
have been automatically stayed.

The Debtor can be reached at:

         Backerei und Konditorei Fausto Giampietro GmbH
         Invalidenstr. 10
         66292 Riegelsberg
         Germany


BENQ CORP: Mobile Unit to Seek EUR500-Mln Claim Against Parent
--------------------------------------------------------------
Martin Prager, the insolvency manager for BenQ Mobile GmbH, will
file a EUR500 million (US$667 million) claim against Taiwan-
based parent BenQ Corp., Bill Rochelle of Bloomberg News reports
citing Economic Daily news as its source.

According to EE Times Europe, Mr. Prager is seeking to recover
the assets allegedly transferred by BenQ Mobile to its parent
company before it filed for insolvency in September 2006.  
Sueddeutche Zeitung says he is claiming EUR382 million from the
company's Taipei headquarters and EUR122 million from a Shanghai
subsidiary.

As previously reported in the Troubled Company Reporter-Europe,
about 4,350 creditors filed claims of up to EUR1.2 billion
against BenQ Mobile, most of which comes from 3,500 former BenQ
employees who are seeking up to EUR27 million in compensation.

Creditors were asking Mr. Prager to examine whether they could
require the company's Taiwanese parent to meet their demands as
Mr. Prager's estimates of the mobile unit's assets fell only at
around EUR300 million.

BenQ Corp. rejected the creditors' compensation claims, calling
them unrelated to the corporation, The China Post reports citing
BenQ spokesman Wang Tan-ju.

"We have consulted our legal advisers, who said that if they
really take the action, there is no legal basis because BenQ
Mobile is an independent enterprise," he said.

BenQ Corp. CFO Eric Yu is currently under probe on an alleged
involvement in insider trading activities.  Bloomberg News
relates that the allegations also involve some employees who
benefited from BenQ's stock trading around March 2006, just
before BenQ posted a fourth quarter loss.

China Post adds that it is believed BenQ executives sold large
amounts of company shares ahead of the company's announcement of
huge losses incurred from its takeover of Siemens's handset
division.

BenQ has posted a net loss of NT$7.89 billion or US$238 million
for the October-December quarter.  The Troubled Company
Reporter-Europe noted that the quarterly loss is the company's
fifth straight as its handset business continues to drag after
it declared its German unit insolvent late last year.

Headquartered in Taiwan, Republic of China, BenQ Corp., Inc. --
http://www.benq.com/-- is principally engaged in manufacturing   
developing and selling of computer peripherals and
telecommunication products.  It is also a major provider of 3G
handset, 3G handset, Camera phones, and other products.

BenQ Mobile GmbH & Co., the company's wholly owned subsidiary,
operates from Munich, Germany.  BenQ Mobile filed for insolvency
in Germany on Sept. 29, 2006, after BenQ Corp.'s board decided
to discontinue capital injection into the mobile unit in order
to stem unsustainable losses.  The collapse follows a year after
Siemens sold the company to Taiwanese technology group BenQ.

BenQ Mobile has lost market share against giant competitors.

A Munich Court opened insolvency proceedings against BenQ Mobile
GmbH & Co OHG on Jan. 1 after Mr. Prager failed to meet the
deadline in finding a buyer for the company on Dec. 31, 2006.

                        *     *     *

The Troubled Company Reporter - Asia Pacific reported on Dec. 5,
2006, that Taiwan Ratings Corp., assigned its long-term twBB+
and short-term twB corporate credit ratings to BenQ Corp.

The outlook on the long-term rating is negative.  At the same
time, Taiwan Ratings assigned its twBB+ issue rating to BenQ's
existing NT$7.05 billion unsecured corporate bonds due in 2008,
2009, and 2010.

The ratings reflect BenQ's:

   * continuing operating losses from its handset operations;

   * high leverage; and

   * the competitive nature and low profitability of the LCD
     monitor industry.


BLUE SKY: Claims Registration Period Ends April 20
--------------------------------------------------
Creditors of Blue Sky Freizeitbetriebe GmbH have until April 20
to register their claims with court-appointed insolvency manager
Detlef Ruediger Beck-mann.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 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 Cottbus
         Hall 210
         Gerichtsplatz 2
         Cottbus
         Germany

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

The insolvency manager can be contacted at:

         Dr. Detlef Ruediger Beck-mann
         Lindenallee 33
         14050 Berlin
         Germany

The District Court of Cottbus opened bankruptcy proceedings
against Blue Sky Freizeitbetriebe GmbH on March 16.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Blue Sky Freizeitbetriebe GmbH
         Berliner Strasse 21
         01979 Lauchhammer
         Germany


CASA BAUKONZEPT: Claims Registration Period Ends April 30
---------------------------------------------------------
Creditors of CASA Baukonzept GmbH have until April 30 to
register their claims with court-appointed insolvency manager
Mark Zeuner.

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

The meeting of creditors will be held at:

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

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

The insolvency manager can be contacted at:

         Dr. Mark Zeuner
         Lehmweg 17
         D 20251 Hamburg
         Germany
         Tel: 040/480 63 90
         Fax: 040/480 63 9

The District Court of Stendal opened bankruptcy proceedings
against CASA Baukonzept GmbH on March 12.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         CASA Baukonzept GmbH
         Weberstrasse 49
         39576 Stendal
         Germany

         Attn: Joerg Demmel, Manager
         Wernerstr. 37
         71636 Ludwigsburg
         Germany


DACHDECKEREI BOSBACH: Claims Registration Period Ends April 25
--------------------------------------------------------------
Creditors of Dachdeckerei Bosbach GmbH have until April 25 to
register their claims with court-appointed insolvency manager
Henning Bungart.

Creditors and other interested parties are encouraged to attend
the meeting at 9:05 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 Essen
         Meeting Hall 186
         First 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 contacted at:

         Henning Bungart
         Zweigertstrasse 43
         45130 Essen
         Germany

The District Court of Essen opened bankruptcy proceedings
against Dachdeckerei Bosbach GmbH on March 16.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         Dachdeckerei Bosbach GmbH
         Attn: Renate Bosbach, Manager
         Dahlhauser Str. 228
         45279 Essen
         Germany


DAIMLERCHRYSLER AG: Plans to Keep Chrysler Ties Following Sale
--------------------------------------------------------------
DaimlerChrysler AG has revealed detailed areas of cooperation
that it plans to pursue between its Mercedes division and any
new owners of Chrysler Group as talks over the U.S. arm's sale
continue, The Wall Street Journal reports.

The company envisions a lasting relationship between Mercedes
and Chrysler, particularly in the areas of purchasing, component
sharing, and engineering, even if they become separated by the
sale, WSJ states.

Reports say DaimlerChrysler hopes to receive at least three
preliminary bids for Chrysler by the end of the month from
private equity firm Cerberus Capital Management LLC, the
private-equity tandem of Blackstone Group and Centerbridge
Partners LP, and Canadian auto parts maker Magna International
Inc.

The company, however, denied speculations that a deal to sell
Chrysler is looming, disclosing through a statement that there
would be no news on the unit's sale this week and there will be
no announcement regarding the subsidiary's fate at the annual
shareholders meeting in Germany on April 4, WSJ reveals.

Dealers are worried that the unit's uncertain future may be
affecting revenues after U.S. Chrysler sales fell about 8% in
February, WSJ relates.

Chrysler and Mercedes have joint engineering teams working in
both Germany and Michigan who are making a set of basic
components that may be useful to the next version of the Jeep
Grand Cherokee and a Mercedes M-Class sport-utility vehicle.  
They are also developing common axles, a common electronics
backbone for their vehicles, as well as diesel and hybrid
engines, the report says.

         Chrysler Sale Cues Neutral Rating by Goldman

Meanwhile, Goldman analyst Stefan Burgstaller in London raised
DaimlerChrysler AG's ratings to "neutral" from "sell" amid the
company's plans to overhaul or sell its Chrysler unit, Bloomberg
News relates.

Mr. Burgstaller also increased his 12-month share-price target
to EUR57 from EUR47, which prompted DaimlerChrysler's shares to
climb to a seven-year high in the U.S. and a 5 1/2-year high in
Germany, Bloomberg reveals.

                      About DaimlerChrysler

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

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

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

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

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


E & E INGENIEURBAU: Claims Registration Period Ends May 4
---------------------------------------------------------
Creditors of E & E Ingenieurbau GmbH have until May 4 to
register their claims with court-appointed insolvency manager
Florian Stapper.

Creditors and other interested parties are encouraged to attend
the meeting at 2:30 p.m. on June 6, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of 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 contacted at:

         Dr. Florian Stapper
         Karl-Heine-Strasse 16
         04229 Leipzig
         Germany
         Tel: 0341/984110
         Fax: 0341/9841111
         E-mail: leipzig@stapper-korn.de

The District Court of Leipzig opened bankruptcy proceedings
against E & E Ingenieurbau GmbH on March 19.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         E & E Ingenieurbau GmbH
         Attn: Bernd Seifert, Manager
         Flossplatz 24
         04107 Leipzig
         Germany


ECKHARD HENN: Claims Registration Period Ends May 9
---------------------------------------------------
Creditors of Eckhard Henn GmbH have until May 9 to register
their claims with court-appointed insolvency manager Klaus-
Werner Bonow.

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

The meeting of creditors will be held at:

         The District Court of Wilhelmshaven
         Hall 109
         Marktstrasse 15-17
         26382 Wilhelmshaven
         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:

         Klaus-Werner Bonow
         Alter Markt 10
         D 26441 Jever
         Germany
         Tel: 04461/2046
         Fax: 04461/72220
         E-mail: KlausBonow@t-online.de

The District Court of Wilhelmshaven opened bankruptcy
proceedings against Eckhard Henn GmbH on March 14.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Eckhard Henn GmbH
         Wittmunder Strasse 20
         26441 Jever
         Germany


EDVEX GMBH: Claims Registration Period Ends April 24
----------------------------------------------------
Creditors of EDVEX GmbH & Co. Torantriebe KG have until April 24
to register their claims with court-appointed insolvency manager
Rolf Nacke.

Creditors and other interested parties are encouraged to attend
the meeting at 10:10 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 Charlottenburg
         Second Stock Hall 218
         Amtsgerichtsplatz 1
         14057 Berlin
         Germany

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

The insolvency manager can be contacted at:

         Rolf Nacke
         Gross-Berliner Damm 73 c
         12487 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against EDVEX GmbH & Co. Torantriebe KG on March 13.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         EDVEX GmbH & Co. Torantriebe KG
         Lobitzweg 1-5
         12557 Berlin
         Germany


ERICH ROHDE: In Talks with Parties Over Restructuring Plan
----------------------------------------------------------
The management of Erich Rohde KG is in talks with insolvency
manager Carsten Koch and creditor banks over a restructuring and
recovery plan, Harald Schwarz writes for Suddeutsche Zeitung.

According to the report, a public sector guarantee may be
considered although EU approval will be required.

The insolvency manager is confident about the rescue plan.  
However, the company is said to be suffering from liquidity
constraints, Suddeutsche Zeitung relates.

Eric Rohde filed an insolvency petition before the District
Court of Marburg/Lahn after it was overburdened with costs
arising from the partial closure of its plant in Portugal, where
1,350 workers are employed.

The company also encountered quality problems with products from
China and a fall in demand for its winter shoes due to mild
weather resulting to sluggish sales, Suddeutsche Zeitung says.

Headquartered in Schwalmstadt, Germany, Eric Rhode KG is a shoe
manufacturer with operations in Austria and Portugal.  The
company employs approximately 1,950 coworkers.  It has an annual
turnover of EUR130 million.


GBB GESELLSCHAFT: Claims Registration Period Ends April 23
----------------------------------------------------------
Creditors of GBB Gesellschaft fuer berufliche Bildung mbH have
until April 23 to register their claims with court-appointed
insolvency manager Thomas Lauterfeld.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 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 Duisburg
         Hall C207
         Second Floor
         Kardinal-Galen-Strasse 124-132
         47058 Duisburg
         Germany

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

The insolvency manager can be contacted at:

         Thomas Lauterfeld
         Friedrich-Ebert-Str. 34
         45468 Muelheim an der Ruhr
         Germany

The District Court of Duisburg opened bankruptcy proceedings
against GBB Gesellschaft fuer berufliche Bildung mbH on
March 16.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be contacted at:

         GBB Gesellschaft fuer berufliche Bildung mbH
         Attn: Ingo Berkenfeld, Manager
         Heifeskamp 2
         45475 Muelheim an der Ruhr
         Germany


HENGST FENSTER: Creditors Must Register Claims by April 15
----------------------------------------------------------
Creditors of HENGST Fenster GmbH have until April 15 to register
their claims with court-appointed insolvency manager
Albert Wolff.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 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 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:

         Albert Wolff
         Weisseritzstrasse 3
         01067 Dresden
         Germany

The District Court of Dresden opened bankruptcy proceedings
against HENGST Fenster GmbH on March 13.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         HENGST Fenster GmbH
         Maxim-Gorki-Strasse 22
         01796 Pirna
         Germany


HJL HEIZUNGSBAU: Creditors Must Register Claims by April 30
-----------------------------------------------------------
Creditors of HJL Heizungsbau GmbH have until April 30 to
register their claims with court-appointed insolvency manager
Wolfgang Holzhausen.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on May 29, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of 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:

         Wolfgang Holzhausen
         Papenhuder Strasse 47
         22087 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against HJL Heizungsbau GmbH on March 16.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         HJL Heizungsbau GmbH
         Heselstuecken 7
         22453 Hamburg
         Germany


INNOVA GESELLSCHAFT: Creditors Must Register Claims by April 20
---------------------------------------------------------------
Creditors of INNOVA Gesellschaft fuer kreatives Bauen mbH have
until April 20 to register their claims with court-appointed
insolvency manager Stephan Ries.

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

The meeting of creditors will be held at:

         The District Court of Wuppertal
         Meeting Hall A234
         Second Floor
         Eiland 2
         42103 Wuppertal
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Stephan Ries
         Wall 28
         42103 Wuppertal
         Germany
         Tel: 0202/317558-0
         Fax: 0202/317558-10

The District Court of Wuppertal opened bankruptcy proceedings
against INNOVA Gesellschaft fuer kreatives Bauen mbH on March
16.  Consequently, all pending proceedings against the company
have been automatically stayed.

The Debtor can be reached at:

         INNOVA Gesellschaft fuer kreatives Bauen mbH
         Attn: Martin Auerbach, Manager
         Vogelskamp 118
         40882 Mettmann
         Germany


KALTNER GMBH: Claims Registration Ends April 30
-----------------------------------------------
Creditors of Kaltner GmbH have until April 30 to register their
claims with court-appointed insolvency manager Wilfried Pohle.

Creditors and other interested parties are encouraged to attend
the meeting at 11:10 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 Arnsberg
         Meeting Room 328
         Eichholzstr. 4
         59821 Arnsberg
         Germany

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

The insolvency manager can be reached at:

         Wilfried Pohle
         Bahnstr. 1
         34431 Marsberg
         Germany

The District Court of Arnsberg opened bankruptcy proceedings
against Kaltner GmbH on May 15.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Kaltner GmbH
         Enkerbruch 25
         59581 Warstein
         Germany


KATEX BEKLEIDUNG: Creditors' Meeting Slated for April 4
-------------------------------------------------------
The court-appointed insolvency manager for Katex Bekleidung GmbH
Peter Hilgarth, will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 10:45 a.m. on
April 4.

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

         The District Court of Aschaffenburg
         Meeting Room 5.103
         First Upper Floor
         Schlossplatz 5
         63739 Aschaffenburg
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:45 a.m. on May 29 at the same venue.

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

The insolvency manager can be reached at:

         Peter Hilgarth
         Johann-Dahlem-Str. 21
         63814 Mainaschaff
         Germany
         Tel: 06021/7950
         Fax: 06021/795111

The District Court of Aschaffenburg opened bankruptcy
proceedings against Katex Bekleidung GmbH on March 16.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Katex Bekleidung GmbH
         An der Heeg
         63776 Moembris
         Germany


OECONOMIC GMBH: Creditors' Meeting Slated for April 3
-----------------------------------------------------
The court-appointed insolvency manager for OECONOMIC GmbH, Dirk
Ritzenhoff, will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 11:00 a.m. on
April 3.

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

         The District Court of Fulda
         Hall 3100
         Koenigstrasse 38
         36037 Fulda
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:50 a.m. on Aug. 7 at the same venue.

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

The insolvency manager can be reached at:

         Dirk Ritzenhoff
         Kanzlei Gartner
         Fluegel & Partner
         Lindenstr. 28, D
         36037 Fulda
         Germany
         Tel: 0661-830400
         Fax: 8304234

The District Court of Fulda opened bankruptcy proceedings
against OECONOMIC GmbH on March 16.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         OECONOMIC GmbH
         Attn: Dieter Buss, former Manager and Liquidator
         Reichenberger Str. 1 b
         36039 Fulda
         Germany


R.E.D. DIETRICH: Claims Registration Ends May 21
------------------------------------------------
Creditors of R.E.D. Dietrich GmbH have until May 21 to register
their claims with court-appointed insolvency manager Ottmar
Hermann.

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

The meeting of creditors will be held at:

         The District Court of Offenbach am Main
         Hall 162N
         First Floor
         Kaiserstrasse 16-18
         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:

         Ottmar Hermann
         Bleichstrasse 2-4, D
         60313 Frankfurt am Main
         Germany
         Tel: 069/91309229
         Fax: 069/91309230

The District Court of Offenbach am Main opened bankruptcy
proceedings against R.E.D. Dietrich GmbH on March 13.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         R.E.D. Dietrich GmbH
         Attn: Rainer Dietrich, Manager
         Wilhelm-Weber-Weg 6
         63069 Offenbach am Main
         Germany


RANSBERGER & WIDMANN: Claims Registration Ends April 27
-------------------------------------------------------
Creditors of Ransberger & Widmann GmbH Schreinerei und
Innenausbau have until April 27 to register their claims with
court-appointed insolvency manager Birgitt Breiter.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on May 24, 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 Wolfratshausen
         Meeting Room 3/I         
         Station Route 18
         Wolfratshausen
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Birgitt Breiter
         Marktplatz 18
         83607 Holzkirchen
         Germany
         Tel: 08024/3058-0
         Telefax: 08024/305820

The District Court of Wolfratshausen opened bankruptcy
proceedings against Ransberger & Widmann GmbH Schreinerei und
Innenausbau on March 16.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be reached at:

         Ransberger & Widmann GmbH Schreinerei und Innenausbau
         Niederhasling 5
         83737 Irschenberg
         Germany


RENT A NURSE: Claims Registration Ends April 24
-----------------------------------------------
Creditors of Rent a Nurse Personalleasing GmbH have until
April 24 to register their claims with court-appointed
insolvency manager Hartwig Albers.

Creditors and other interested parties are encouraged to
attend the meeting at 12:20 p.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 Charlottenburg
         Second Stock Hall 218
         Amtsgerichtsplatz 1
         14057 Berlin
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Hartwig Albers
         Luetzowstr. 100
         10785 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Rent a Nurse Personalleasing GmbH on
March 14.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         Rent a Nurse Personalleasing GmbH
         Luzerner Strasse 5
         12205 Berlin
         Germany


SOLL & HABEN: Claims Registration Ends May 11
---------------------------------------------
Creditors of Soll & Haben Gesellschaft fuer Unternehmensberatung
und Office Management mbH have until May 11 to register their
claims with court-appointed insolvency manager Hans von
Gleichenstein.

Creditors and other interested parties are encouraged to attend
the meeting at 9:10 a.m. on June 18, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Munich
         Meeting Room 102
         Infanteriestr. 5
         80097 Munich
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Hans von Gleichenstein
         Rottmannstr. 11a
         80333 Munich
         Germany
         Tel: 089/5427300
         Telefax: 089/54273015

The District Court of Munich opened bankruptcy proceedings
against Soll & Haben Gesellschaft fuer Unternehmensberatung und
Office Management mbH on March 15.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Soll & Haben Gesellschaft fuer Unternehmensberatung und
         Office Management mbH
         C/o Reiner Serr
         Pahlstr. 9
         81377 Munich
         Germany


STEMOTEC GMBH: Creditors' Meeting Slated for April 25
-----------------------------------------------------
The court-appointed insolvency manager for SteMoTec GmbH, Dr.
Petra Hilgers, will present her first report on the Company's
insolvency proceedings at a creditors' meeting at 8:50 a.m. on
April 25.

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 Aug. 1 at the same venue.

Creditors have until June 4 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Dr. Petra Hilgers
         Goethestr. 85
         10623 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against SteMoTec GmbH on March 16.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         SteMoTec GmbH
         Helmholtzstr. 21/22
         10587 Berlin
         Germany


STUKKATEURBETRIEB JAKOB: Creditors' Meeting Slated for April 24
---------------------------------------------------------------
The court-appointed insolvency manager for Stukkateurbetrieb
Jakob GmbH, Andrea Julia Wolf, will present her first report on
the Company's insolvency proceedings at a creditors' meeting at
9:30 a.m. on April 24.

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

         The District Court of Saarbruecken
         Area Hall 13
         First Floor
         Branch Office Sulzbach
         Vopeliusstrasse 2
         66280 Sulzbach
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:05 a.m. on May 15 1at the same venue.

Creditors have until April 16 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Andrea Julia Wolf
         Talstrasse 12
         66119 Saarbruecken
         Tel: 0681/859 150
         Fax: 0681/859 1515

The District Court of Saarbruecken opened bankruptcy proceedings
against Stukkateurbetrieb Jakob GmbH on March 15.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Stukkateurbetrieb Jakob GmbH
         Attn: Michael Jakob, Manager
         Holzhau 2
         66663 Merzig
         Germany


TYPE DESIGN: Claims Registration Period Ends April 25
-----------------------------------------------------
Creditors of Type Design Satzstudio GmbH have until April 25 to
register their claims with court-appointed insolvency manager
Wolfgang Weidemann.

Creditors and other interested parties are encouraged to attend
the meeting at 10:40 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 Tostedt
         Area CE.02
         Linden 23
         21255 Tostedt
         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:

         Wolfgang Weidemann
         Wendenstr. 4
         20097 Hamburg
         Germany
         Tel: 040/233285
         Fax: 040/233810

The District Court of Tostedt opened bankruptcy proceedings
against Type Design Satzstudio GmbH on March 14.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         Type Design Satzstudio GmbH
         Attn: Karl-Georg Grabe, Manager
         Kantstr. 6 a
         21629 Neu Wulmstorf
         Germany


VIPBA GMBH: Claims Registration Period Ends April 30
----------------------------------------------------
Creditors of Vipba GmbH have until April 30 to register their
claims with court-appointed insolvency manager Matthias Raupke.

Creditors and other interested parties are encouraged to attend
the meeting at 2:00 p.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 Noerdlingen
         Meeting Hall F/I
         Kaisheimer House
         Tandelmarkt 5
         Noerdlingen
         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:

         Matthias Raupke
         Eserwallstrasse 1-3
         150 Augsburg
         Germany
         Tel: 0821/509330
         Fax: 0821/5093333

The District Court of Noerdlingen opened bankruptcy proceedings
against Vipba GmbH on March 16.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Vipba GmbH
         Attn: Saadet Akkaya, Manager
         Reichsstr. 51
         86609 Donauwoerth
         Germany


WCM BETEILIGUNGS: To Sell Stakes in Maternus-Kliniken and YMOS
--------------------------------------------------------------
WCM Beteiligungs- und Grundbesitz-AG, WCM Beteiligungs- und
Verwaltungs GmbH & Co KG and WCM Beteiligungs- und Verwaltungs
GmbH concluded a preliminary agreement to sell close to a 71.5%
stake in MATERNUS-Kliniken AG and a 95% stake in YMOS AG to CURA
Kurkliniken, Seniorenwohn-und Pflegeheime Aktiengesellschaft, on
March 22.

Furthermore the stake MEDICO Grundstuecksgesellschaft mbH & Co
Bayerwald Klinik KG indirectly held by WCM Beteiligungs- und
Verwaltungs GmbH will also be sold.

In the preliminary agreement, the right to terminate the
contract in favor of the bankruptcy administrator has been
agreed.  The preliminary contract is subject to approval by the
executive boards of the contracting parties.

WCM applied for insolvency on Nov. 8, 2006, as a result of the
extraordinary termination of the loan agreement by HSH Nordbank
AG.  The District Court of Frankfurt (Main) opened bankruptcy
proceedings against the company on Nov. 21, 2006.  

The Court will verify the claims against the company at
9:00 a.m. on April 23, at:

         The District Court of Frankfurt (Main)
         Hall 1
         Building F
         Klingerstrasse 20
         60313 Frankfurt (Main)
         Germany

The administrator can be reached at:

         Michael C. Frege
         Barckhausstrasse 12-16
         60325 Frankfurt (Main)
         Germany
         Tel: 069/71701-300
         Fax: 069/71701-40-410

                        About Salzgitter

Headquartered in Salzgitter, Germany, Salzgitter AG --
http://www.salzgitter-ag.de/-- is the Germany-based holding  
company for a group of more than 80 domestic and international
subsidiaries active in the steel technology industry.

                        About WCM AG

Headquartered in Frankfurt, Germany, WCM Beteiligungs- und
Grundbesitz-AG -- http://www.wcm.de/-- holds equity interests  
in other real estate investment, management, and development
companies, as well as in the nursing homes and a packaging
maker.  The group owns 80% of Klockner-Werke AG, which also
operates in Austria, Czech Republic, Denmark, France, United
Kingdom, Italy, Netherlands, Spain, Switzerland, Australia,
Brazil, India, Japan, Mexico, Russian Federation, Singapore, and
the U.S.A.

WCM has been posting consecutive annual net losses since 2002:
EUR849 million in 2002; EUR315 million in 2003; EUR163 million
in 2004; and EUR44 million in 2005.


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


ALITALIA SPA: Management & Capitali Group Skips Due Diligence
-------------------------------------------------------------
Management & Capitali S.p.A. will not launch due diligence on
the accounts of Alitalia S.p.A. after its consortium partners
rejected the terms outlined by the Italian government, various
reports say.

Carlo De Benedetti, founder of M&C, said that, while it accepts
the terms set, partners Goldman Sachs and Cerberus Capital
object to the one-year trading ban on Alitalia shares, Reuters
reports.  

Bidders for the government's 39.9% stake in Alitalia have to
sign a confidentiality agreement, which contains the share
trading block clause, before they could perform due diligence on
the company's accounts, Bloomberg News relates.  

According to Reuters, due diligence allows potential investors
to review risks and advantages in a business transaction, like
the firm's background and financial reliability.

Mr. De Benedetti adds that M&C will not negotiate with the
Economy Ministry over the ban.

M&C, however, said it is keeping its options open for possible
participation in the future phases of the sale process.

The Italian government has chosen five interested parties to
participate in the second round of bidding process for its 39.9%
stake in Alitalia S.p.A., BBC News reports.

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

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

   -- Texas Pacific Group Europe LLP,

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

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

   -- MatlinPatterson Global Advisers LLC.

The government gave the bidders until April 16 to submit non-
binding offers and a five-year business plan for Alitalia.  The
plan, which must include job levels, will be binding for three
years and can only be amended with the government's approval.

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

                         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.


DANA CORP: Unit Amends Joint Venture Agreement with Dongfeng
------------------------------------------------------------
Dana Mauritius Ltd and Dongfeng Motor Co Ltd have amended their
agreement to develop a 50-50 joint venture, the Dongfeng Dana
Axle Co. Ltd, Forbes reports, citing a statement from Dana Corp.

According to Dana's statement, part of the amendments calls for
Dana Mauritius to make an initial payment of CNY38.8 million to
Dongfeng for a 4% equity interest in the joint venture.  

The transaction is expected to be completed by the end of March,
Forbes says.  

Meanwhile, Dana Mauritius will purchase the remaining 46%
interest after April 1, 2008, and within three years of
receiving government approvals.

The agreement also provides that, Dana license certain
commercial vehicle axle technology to Dongfeng Dana Axle for the
term of the joint venture, Forbes says citing Dana Corp's
statement.

Forbes, however, notes that all these amendments are still
subject to government approval.

                     About Dongfeng Motor Co. Ltd.

Dongfeng Motor Co. Ltd. is a joint venture between the state-
owned Dongfeng Motor Group Company Ltd. and a Chinese subsidiary
of Nissan Motors.  Dongfeng Motor Group was founded in 1969 and
with its affiliates ranks as one of the three largest vehicle
makers in China. Dongfeng Motor Co. Limited produces a broad
range of light, medium, and heavy-duty trucks, as well as buses
and passenger cars.

                          About Dana Corp.

Toledo, Ohio-based Dana Corp. -- http://www.dana.com/-- designs  
and manufactures products for every major vehicle producer in
the world, and supplies drivetrain, chassis, structural, and
engine technologies to those companies.  Dana employs 46,000
people in 28 countries.  Dana is focused on being an essential
partner to automotive, commercial, and off-highway vehicle
customers, which collectively produce more than 60 million
vehicles annually.  Dana has facilities in China, Argentina and
Italy.

The company and its affiliates filed for chapter 11 protection
on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  As of
Sept. 30, 2005, the Debtors listed US$7,900,000,000 in total
assets and US$6,800,000,000 in total debts.

Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day,
in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq.,
Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in
Cleveland, Ohio, represent the Debtors.  Henry S. Miller at
Miller Buckfire & Co., LLC, serves as the Debtors' financial
advisor and investment banker.  Ted Stenger from AlixPartners
serves as Dana's Chief Restructuring Officer.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel
LLP, represents the Official Committee of Unsecured Creditors.  
Fried, Frank, Harris, Shriver & Jacobson, LLP serves as counsel
to the Official Committee of Equity Security Holders.  Stahl
Cowen Crowley, LLC serves as counsel to the Official Committee
of Non-Union Retirees.

The Debtors' exclusive period to file a plan expires on Sept. 3,
2007.  They have until Nov. 2, 2007, to solicit acceptances of
that plan.  (Dana Corporation Bankruptcy News, Issue No. 36;
Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


PARMALAT SPA: Converted Warrants Hike Share Capital by EUR6 Mln
---------------------------------------------------------------
Parmalat S.p.A. disclosed that, following the allocation of
shares to creditors of the Parmalat Group, the subscribed and
fully paid up share capital has now been increased by
EUR6,341,475 to EUR1,648,337,620 from EUR1,641,996,145.

The share capital increase is due to the assignation of 128,873
shares and to the conversion of warrants for 6,212,602 shares.

The latest status of the share allotment is that 43,540,879
shares representing around 2.6% of the share capital are still
in a deposit account c/o Parmalat S.p.A., of which:

   -- 16,147,888 or 1.0% of the share capital, registered in the
      name of individually identified commercial creditors, are
      still deposited in the intermediary account of Parmalat
      S.p.A. centrally managed by Monte Titoli (compared with
      16,147,993 shares as at Feb. 23, 2007);

   -- 27,392,991 or 1.7% of the share capital registered in the
      name of the Foundation, called Fondazione Creditori
      Parmalat, of which:

         -- 120,000 shares representing the initial share
            capital of Parmalat S.p.A. (unchanged); and

         -- 27,272,991 or 1.7% of the share capital that pertain
            to currently undisclosed creditors (compared with
            28,223,948 shares as at Feb. 23, 2007).

                         About Parmalat

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

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

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

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

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

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


PARMALAT SPA: Eyes Acquisitions and Investments for 2007
--------------------------------------------------------
Parmalat S.p.A. is planning on several acquisitions this year as
the company posted its first net profit since its December 2003
collapse, Bloomberg News reports citing Chief Executive Enrico
Bondi.

Mr. Bondi said that Parmalat will raise enough money in 2007 to
acquire firms and stimulate external growth, Bloomberg News.  
The chief executive noted that Parmalat's finances in 2006 were
boosted by purged debt, proceeds from legal settlements and a
EUR192.5 million in net profit.  

Carlo Prevedini, Parmalat's chief operating officer, revealed
that the company will invest up to EUR170 million in 2007,
around EUR70 million of which will be used to improve plants in
Australia and Canada.

Bloomberg News comments that Parmalat is selling more profitable
goods and recouping funds through lawsuits against banks and
auditors.

                         About Parmalat

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

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

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

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

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

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


PARMALAT SPA: Distributing EUR0.025 Per Share Dividend
------------------------------------------------------
Parmalat S.p.A. will pay a dividend equal to EUR0.025 per share,
from June 18, 2007, with value date June 21, 2007.

                         About Parmalat

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

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

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

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

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

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


POPOLARE ITALIANA: To Write Off EUR104-Mln Loan to Stichting
------------------------------------------------------------
Banca Popolare Italiana Scrl will write off EUR104 million of
the EUR448-million loan availed to Dutch foundation Stichting
Bakery Finance, AFX News reports.

BPI's board of directors decided to write off part of
Stitching's debt following a survey by Tamburi & Associati on
its financial exposure to Kamps and Harry's, AFX News says.  BPI
used Stitching as vehicle to acquire Kamps and Harry's.

BPI previously wrote down EUR100 million from the loan, which
has an original value of EUR548 million.

Tamburi's survey, AFX News relays, also shows that BPI's equity
stakes in Finba Bakery Holding GmbH, Bakery Equity Luxembourg
and Finbakery Netherlands B.V. are in line with the overall book
value of EUR93 million, AFX News says.  BPI had written down the
firms' asset value by EUR42 million.  BPI also used the firms as
vehicles to acquire Kamps, Harry's and Barilla.

BPI spent over EUR830 million for acquiring stakes in other
firms.  The amount dipped to EUR590 million following the loan
write-down to Stichting, AFX News adds.

                  About Banca Popolare Italiana

Headquartered in Lodi, Italy, Banca Popolare Italiana --
http://www.bancapopolareitaliana.it/-- attracts deposits and  
offers commercial banking services.  The Bank offers securities
brokerage, asset management, mortgage loans, insurance, lease
financing and treasury services and manages mutual funds.  
Through a subsidiary, Banca Popolare Italiana offers merchant
banking services and medium- and long-term lending.

                        *     *     *

As of Feb. 23, BPI carries Moody's Investors Service's D
financial strength rating, Ba2 junior subordinated debt rating,
and Ba2 preferred stock and Tier III debt ratings.

At the same time, BPI also carries Fitch's C financial strength
rating, BB+ junior subordinated debt rating, and BB+ preferred
stock rating.


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


AK-SUNKAR LLP: Creditors Must File Claims by May 2
--------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda has
declared LLP Ak-Sunkar insolvest.

Creditors have until May 2 to submit written proofs of claim to:

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


ALATAU LLP: Creditors' Claims Due May 2
---------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda has
declared LLP Alatau insolvent.  

Creditors have until May 2 to submit written proofs of claim to:

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


ALTYN-NUR LLP: Proof of Claim Deadline Slated for May 2
-------------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region has declared LLP Altyn-Nur insolvent.  

Creditors have until May 2 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


ASIA-REMTECHSERVICE LLP: Claims Registration Ends May 8
-------------------------------------------------------
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Asia-Remtechservice insolvent.  

Creditors have until May 8 to submit written proofs of claim to:

         The Specialized Inter-Regional
         Economic Court of Kostanai
         Baitursynov Str. 70
         Kostanai
         Kazakhstan


BAILYK LLP: Claims Filing Period Ends May 8
-------------------------------------------
The Specialized Inter-Regional Economic Court of Mangistau has
declared LLP Bailyk insolvent.

Creditors have until May 8 to submit written proofs of claim to:

         The Specialized Inter-Regional
         Economic Court of Mangistau
         Building Of Former Kindergarten #51
         Micro District 27
         Aktau
         Mangistau
         Kazakhstan


BESKON LLP: Creditors Must File Claims by May 8
-----------------------------------------------
The Specialized Inter-Regional Economic Court of Mangistau has
declared LLP Beskon insolvent.

Creditors have until May 8 to submit written proofs of claim to:

         The Specialized Inter-Regional
         Economic Court of Mangistau
         Building Of Former Kindergarten #51
         Micro District 27
         Aktau
         Mangistau
         Kazakhstan


D&H LLP: Claims Registration Period Ends May 4
----------------------------------------------
LLP D&H Heavy Industry has declared insolvency.  Creditors have
until May 4 to submit written proofs of claim to:

         LLP D&H Heavy Industry
         Tole bi Str. 289
         Almaty
         Kazakshtan


SHOSH-TRANS CJSC: Proof of Claim Deadline Slated for May 2
----------------------------------------------------------
Branch Of CJSC Shosh-Trans has declared insolvency.  Creditors
have until May 2 to submit written proofs of claim to:

         Branch Of CJSC Shosh-Trans
         Solodovnikov Str. 3/140-1
         Bostandyksky District
         480057 Almaty
         Kazakhstan


TALGAT-INVEST LLP: Claims Registration Ends May 1
-------------------------------------------------
LLP Talgat-Invest has declared insolvency.  Creditors have until
May 1 to submit written proofs of claim to:

         LLP Talgat-Invest
         Gvardeiskaya Str. 14-79
         Uralsk
         West Kazakhstan Region
         Kazakshtan


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


JACKSON CENTRAL: Creditors Must File Claims by May 8
----------------------------------------------------
LLC Jackson Central Asia has declared insolvency.  Creditors
have until May 8 to submit written proofs of claim to:

         LLC Jackson Central Asia
         Micro District 10, 25-51
         Bishkek, Kyrgyzstan


RAMZDEN-TRANS LLC: Claims Filing Period Ends May 8
--------------------------------------------------
LLC Ramzden-Trans has declared insolvency.  Creditors have until
May 8 to submit written proofs of claim.

Inquiries can be addressed to (0-543) 91-90-04.


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


GATE GOURMET: S&P Lifts Ratings to B on Operating Performance
-------------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term
corporate credit ratings on Luxembourg-based airline-catering
group Gate Gourmet Holdings S.C.A. and 100%-owned subsidiary
Gate Gourmet Borrower LLC to 'B' from 'B-' and removed the
ratings from CreditWatch, where they were placed on Dec. 19,
2006.  The outlook is stable.

At the same time, Standard & Poor's raised its rating on Gate
Gourmet Borrower's CHF414 million first-lien loan to 'B+' from
'B', one notch above the corporate credit rating.  The '1'
recovery rating on the loan has been affirmed, indicating
Standard & Poor's expectation of full recovery of principal for
senior secured lenders in the case of a payment default.

In addition, the rating on Gate Gourmet Borrower's CHF116
million second-lien loan was raised to 'B-' from 'CCC+', one
notch below the corporate credit rating.  The '3' recovery-
rating on the second-lien loan was affirmed, indicating Standard
& Poor's expectation of meaningful recovery for second-lien
lenders in the case of a payment default.

"The upgrade reflects the better-than-expected improvements in
Gate Gourmet's operating performance and financial risk
profile," said Standard & Poor's credit analyst Mohammed Fayek.  
"This is the outcome of a number of initiatives taken by the
group; most notably restructuring and cost-cutting efforts, a
voluntary debt prepayment, and a pension contribution."

At the end of December 2006, Gate Gourmet had total reported
debt of CHF528 million, estimated pension liabilities of
CHF90 million, and estimated operating lease commitments of
about CHF293 million.

We expect Gate Gourmet will sustain its operating performance,
with continued rationalization efforts offsetting the recent
contract renewals with tighter margins.  The group's free cash
flows are expected to remain positive in 2007, with liquidity
remaining adequate.

The ratings could be pressured if market conditions deteriorate,
if the group excessively increases debt levels to pursue growth
prospects, or if its adequate liquidity position deteriorates.
Potential upside exists if Gate Gourmet outperforms its cost-
cutting targets and strengthens its capital structure.


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


ARES EURO: Moody's Rates EUR6-Million Class F Notes at (P)B2
------------------------------------------------------------
Moody's assigned provisional credit ratings to the notes issued
by Ares Euro CLO I B.V., a Dutch special purpose company.  The
ratings are:

   -- EUR195.2-million Class A1 Senior Secured Floating Rate
      Notes due 15 May 2024: (P)Aaa;

   -- EUR48.8-million Class A2 Senior Secured Floating Rate
      Notes due 15 May 2024: (P)Aaa;

   -- EUR8-million Class B1 Senior Secured Deferrable Floating
      Rate Notes due 15 May 2024: (P)Aa2;

   -- EUR10-million Class B2 Senior Secured Deferrable Fixed
      Rate Notes due 15 May 2024: (P)Aa2;

   -- EUR19-million Class C Senior Secured Deferrable Floating
      Rate Notes due 15 May 2024: (P)A2;

   -- EUR26-million Class D Senior Secured Deferrable Floating
      Rate Notes due 15 May 2024: (P)Baa2;

   -- EUR13.5-million Class E Senior Secured Deferrable Floating
      Rate Notes due 15 May 2024: (P)Ba3; and

   -- EUR6-million Class F Senior Secured Deferrable Floating
      Rate Notes due 15 May 2024: (P)B2.

EUR29.5-million Class G Subordinated Notes will also be issued
but not rated by Moody's.

The ratings of the Class A1, A2, B1, B2, C, D, E and F Notes
address the expected loss posed to investors by the legal final
maturity in May 2024.

These 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 currency swap transactions, which insulate Ares Euro
      CLO I B.V. from the volatility of the foreign currency
      exchange rates, for Non-Euro denominated obligations; and

   4. The legal and structural integrity of the issue.

This transaction is a high yield collateralized loan obligation
related to a EUR350-million portfolio of mostly European Senior
and Mezzanine loans (with a predominance of senior secured
loans).  Ares Management Limited dynamically manages this
portfolio.  This portfolio will be partially acquired at closing
date and partially during the 12 months ramp-up period in
compliance with portfolio guidelines.  Thereafter, the portfolio
of loans will be actively managed and the portfolio manager will
have the option to direct the issuer to buy or sell loans.  Any
addition or removal of loans will be subject to a number of
portfolio criteria.


RESOURCE EUROPE: Moody's Rates EUR6.35-M Class E Notes at (P)Ba3
----------------------------------------------------------------
Moody's assigned provisional credit ratings to the notes issued
by Resource Europe CLO I B.V., a Dutch special purpose company.
The ratings are:

   -- EUR211.05-million Class A Senior Secured Floating Rate
      Notes due 2023: (P)Aaa;

   -- EUR18.8-million Class B Senior Secured Deferrable Floating
      Rate Notes due 2023: (P)Aa2;

   -- EUR17.28-million Class C Senior Secured Deferrable
      Floating Rate Notes due 2023: (P)A2;

   -- EUR18,050,000 Class D Senior Secured Deferrable Floating
      Rate Notes due 2023: (P)Baa3; and

   -- EUR6.35-million Class E Senior Secured Deferrable Floating
      Rate Notes due 2023: (P)Ba3.

EUR28.47-million Class M Subordinated Notes due 2023 will also
be issued but not rated by Moody's.

The ratings of the Class A, B, C, D, and E Notes address the
expected loss posed to investors by the legal final maturity in
2023.

These 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 currency swap transactions, which insulate Resource  
      Europe CLO I B.V. from the volatility of the foreign
      currency exchange rates, for Non-Euro denominated
      obligations; and

   4. The legal and structural integrity of the issue.

This transaction is a high yield collateralized loan obligation
related to a EUR292,223,000 portfolio of mostly European Senior
and Mezzanine loans (with a predominance of senior secured
loans).  Resource Europe Management Limited dynamically manages
this portfolio.  This portfolio will be partially acquired at
closing date and partially during the 6-month ramp-up period in
compliance with portfolio guidelines.  Thereafter, the portfolio
of loans will be actively managed and the portfolio manager will
have the option to direct the issuer to buy or sell loans. Any
addition or removal of loans will be subject to a number of
portfolio criteria.


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


AFFILIATED COMPUTER: Shareholders File Suit to Prevent Buyout
-------------------------------------------------------------
Momentum Partners and Mark Levy filed separate shareholder
lawsuits in a Delaware corporate law tribunal against Affiliated
Computer Services Inc. in an attempt to block the attempted
buyout of the company by founder Darwin Deason and Cerberus
Capital Management LP, the Mercury News reports citing the
Associated Press.

As reported in the Troubled Company Reporter on March 21, the
company disclosed in a regulatory filing with the U.S.
Securities and Exchange Commission that it received a proposal
from Deason- Cerberus to acquire all of the outstanding shares
of the company for US$59.25 per share in cash, other than
certain shares and options held by Mr. Deason and members of the
company's management team.

The two lawsuits are framed as class actions and brought in the
name of those who allegedly stand to be shortchanged in the
buyout.

According to the report, both suits hinge on the fact that the
company has a record of turning down buyout offers.  The
shareholders also alleged that the timing of the buyout offer
was in question since the pricing was done when the company's
stock hit a low point due to the company's involvement in a
stock options backdating scandal.  Further, the deal is
defective with the buyers having too much voting power.

Mercury News further relates that according to court documents,
Mr. Deason and management control 42% of the voting power at the
company.

                     About Affiliated Computer

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

                          *     *     *

As reported in the Troubled Company Reporter on March 21, 2007,
Moody's Investors Service has placed the ratings for Affiliated
Computer Services Inc. on review for possible downgrade, which
includes the company's Ba2 Senior Secured Term Loan Rating; Ba2
Senior Secured Revolving Credit Facility Rating; Ba2 Senior
Notes Rating; and Ba2 Corporate Family Rating.


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


AGRO-INVEST LLC: Creditors Must File Claims by April 10
-------------------------------------------------------
Creditors of LLC Agro-Invest have until April 10 to submit
proofs of claim to:

         I. Novikova, Insolvency Manager
         Post User Box 5973
         350007 Krasnodar-7
         Russia

The Arbitration Court of Krasnodar commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A-32-15696/2006-1/1056-B.

The Court is located at:

         The Arbitration Court of Krasnodar  
         Staroderevenkovskaya St.
         Krasnodar  
         Russia

The Debtor can be reached at:

         LLC Agro-Invest
         Promzona
         Ventsy
         Gulkevichskiy
         352177 Krasnodar
         Russia


CONTRACT CJSC: Creditors Must File Claims by May 10
---------------------------------------------------
Creditors of CJSC Contract have until May 10 to submit proofs of
claim to:

         F. Zagidullin, Insolvency Manager
         Apartment 17
         Chapaeva Str. 63
         Tuymazy
         452757 Bashkortostan
         Russia

The Arbitration Court of Yamalo-Nenetskiy commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A81-5243/2006.

The Court is located at:

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

The Debtor can be reached at:

         CJSC Contract
         Panel Ter. 1
         Promzona
         629811 Noyabrsk
         Russia


FACTORY PLAST: Creditors Must File Claims by April 10
-----------------------------------------------------
Creditors of LLC Factory Plast have until April 10 to submit
proofs of claim to:

         A. Danilenko, Temporary Insolvency Manager
         Post User Box 333
         170000 Tver
         Russia

The Arbitration Court of Tver will convene at noon on April 3 to
hear the company's bankruptcy supervision procedure.  The case
is docketed under Case No. A66-65-07.

The Court is located at:

         The Arbitration Court of Tver
         Room 7
         Sovetskaya Str. 23b
         Tver
         Russia

The Debtor can be reached at:

         LLC Factory Plast
         Parkovaya Str. 20
         Udomlya
         171843 Tver
         Russia


GAZPROMBANK OAO: Selling Three-Year Floating-Rate Bonds
-------------------------------------------------------
OAO Gazprombank [is preparing to issue] three-year US$500-million
bonds at a floating rate, Bloomberg News report[ed last week].

The bonds are being sold at between 100 and 110 basis points
above LIBOR, or 20 basis points less than Gazprombank's existing
debt, Mikhail Galkin of MDM Bank told Bloomberg News.  The bank
currently has outstanding US$300 million notes due 2011 with
interest rate of 7.97%.

UBS AG and Dresdner Bank AG are managing the sale.  Bloomberg
News suggests that the debt issue will be a "benchmark" in size.  

In a TCR-Europe report on Feb. 23, OAO Gazprombank said it will
raise around US$3 billion on foreign markets and RUR10 billion
(US$377 million) on the local market this year, RIA Novosti
reports.

The company will use the new funds to:

   -- expand its business;
   -- hike its market share; and
   -- boost the volume of corporate lending.

According to RIA Novosti, Russian banks are believed to be
heavily undercapitalized and in need of funds to compete with
Western rivals.

                       About Gazprombank

Headquartered in Moscow, Russian Federation, OAO Gazprombank --
http://www.gazprombank.ru/-- a subsidiary of OAO Gazprom,  
offers services primarily to the gas industry.  It offers
syndicated loans, participation loans, factoring, lease
financing, cash and settlement services, money transfers and
credit cards.

                        *     *     *

As reported in the TCR-Europe on Dec. 4, 2006, Standard & Poor's
Ratings Services affirmed its 'BB+/B' long-and short-term
counterparty credit ratings and 'ruAA+' Russia national scale
rating on Gazprombank, following the upgrade of its 100% owner,
OAO Gazprom, to 'BBB' from 'BBB-.'

At the same time, the ratings on Gazprombank were removed from
CreditWatch, where they had been placed with positive
implications on Nov. 15, 2006, following a review of government
influence on Russian government-related entities (GREs),
including Gazprom.  The outlook is stable.

On Dec. 22, 2005, Moody's Investors Service upgraded
Gazprombank's Financial Strength Rating to D- from E+; the
bank's Baa2/Prime-2 long-term and short-term foreign currency
deposits ratings as well as its Baa1 long-term senior debt
rating remain unchanged.  Moody's said the outlook for the
ratings is stable.


HYDROSPETSSTROY LTD: Insolvency Sets off Auction of All Assets
--------------------------------------------------------------
Olga Rushitskaya, the acting bankruptcy trustee of
HydroSpetsStroy Ltd., disclosed that all of the company's assets
would be auctioned off after the Arbitration Court of Sverdlovsk
declared the company insolvent, UralBusinessConsulting reports.

"The company's creditors now have full control of the assets, so
they will be able to sell everything," Ms. Rushitskaya said.  
She further noted that proceeds from the auction would be used
to settle the company's obligations.

The acting trustee is expected to meet with HydroSpetsStroy's
creditors and create a self-regulating organization that would
appoint the trustee for the company's bankruptcy proceedings,
UralBusinessConsulting reveals.

                   About HydroSpetsStroy Ltd.

Russian company HydroSpetsStroy Ltd. is a general contractor
with accumulated debts of more than RUR55 million (EUR1.59
million).  The Arbitration Court of Sverdlovsk declared the
company bankrupt in March 2007.


KAMESHKOVSKIY TIMBER: Bankruptcy Hearing Slated for May 31
----------------------------------------------------------
The Arbitration Court of Vladimir will convene at 1:30 p.m. on
May 31 to hear the bankruptcy supervision procedure on OJSC
Kameshkovskiy Timber Combine.  The case is docketed under Case
No. A11-14266/2006-K1-480B/25B.

The Temporary Insolvency Manager is:

         V. Grigin
         Room 203
         Elektrozavodskaya Str. 7
         600009 Vladimir
         Russia

The Court is located at:

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

The Debtor can be reached at:

         OJSC Kameshkovskiy Timber Combine
         Kameshkovo
         Vladimir
         Russia


KHAKAS-KUZBAS-COAL: Court Names D. Shitoev as Insolvency Manager
----------------------------------------------------------------
The Arbitration Court of Khakasiya appointed Mr. D. Shitoev as
Insolvency Manager for CJSC Khakas-Kuzbas-Coal (TIN 1903009535).  
He can be reached at:

         D. Shitoev
         Post User Box 31
         630035 Novosibirsk
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A74-2455/2006.

The Court is located at:

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

The Debtor can be reached at:

         D. Shitoev
         Post User Box 31
         630035 Novosibirsk
         Russia


MILK OJSC: Omsk Bankruptcy Hearing Slated for June 5
----------------------------------------------------
The Arbitration Court of Omsk will convene at 2:40 p.m. on
June 5 to hear the bankruptcy supervision procedure on OJSC Milk
(TIN 5538000504).  The case is docketed under Case No.
A46-20767/2006.

The Temporary Insolvency Manager is:

         Y. Burlak
         Dekabristov Str. 8
         644070 Omsk
         Russia

The Debtor can be reached at:

         Y. Burlak
         Dekabristov Str. 8
         644070 Omsk
         Russia


MOSENERGO: S&P Keeps B Rating on CreditWatch After Share Issue
--------------------------------------------------------------
Standard & Poor's Ratings Services said that its 'B' long-term
corporate credit rating and 'ruA-' Russia national scale rating
on electricity and heat generator Mosenergo remain on
CreditWatch with positive implications, where they were placed
on Dec. 22, 2006, following approval of a share issue to Russian
gas giant OAO Gazprom by Mosenergo shareholders.

"The positive CreditWatch implications reflect the potential
strengthening of Mosenergo's capital structure following the
equity increase and a possibly closer affiliation with Gazprom,
which may gain a controlling stake in the company", said
Standard & Poor's credit analyst Eugene Korovin.

The RUR60.7 billion in proceeds from the share issue will be
used to finance a major part of Mosenergo's RUR76 billion 2006
to 2010 investment plan.

A substantial part of the proceeds will be jointly managed by
Mosenergo, energy utility group RAO UES of Russia, and Gazprom,
which will together implement and finance the investment
program.

"The CreditWatch placement will be resolved after completion of
the share issue procedure, and once we have more clarity
regarding any potential changes to Mosenergo's strategy if there
is a new controlling owner," added Mr. Korovin.

The rating agency said it will assess the level of support
available to the company in its potential status as Gazprom's
subsidiary.  It will also evaluate the availability of the funds
obtained from the share issue for other liquidity needs, which
may be limited and require the approval of RAO UES and Gazprom.

The ratings on Mosenergo reflect:

   -- an unsupportive and evolving tariff regulatory regime;

   -- the company's ambitious investment program, which creates
      significant external funding requirements -- although the
      share issue should materially contribute to covering these
      needs;

   -- an aggressive financial profile, which would, however,
      improve following the close of the share issue; and

   -- significant contingent liabilities.

These weaknesses are mitigated by Mosenergo's strong competitive
position in the relatively lucrative, and growing, Moscow
region; its diversified heat and power generation portfolio; and
technical limitations on competition from alternative power and
heat producers.

According to information provided by the management, at Dec. 31,
2006, Mosenergo's total debt was RUR21.2 billion.


ORLOVSKIY OJSC: Creditors Must File Claims by May 10
----------------------------------------------------
Creditors of OJSC Cheese Making Factory Orlovskiy have until
May 10 to submit proofs of claim to:

         B. Latyshev, Insolvency Manager
         Office 20-22
         Leskova Str. 19
         302040 Orel
         Russia
         Tel: (4862) 43-05-92

The Arbitration Court of Orel commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A48-685/06-16b.

The Court is located at:

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

The Debtor can be reached at:

         OJSC Cheese Making Factory Orlovskiy
         Pishevoy Per. 14
         Orel
         Russia


PROMTORGBANK: Moody's Cuts Rating to B3 on Weak Financial Result
----------------------------------------------------------------
Moody's Investors Service downgraded Bank JSC Industrial & Trade
Bank Promtorgbank's long-term foreign currency deposit rating
from B2 to B3 and its National Scale Rating from Baa1.ru to
Baa3.ru.

The bank's E+ Financial Strength Rating is affirmed.  All
ratings carry stable outlooks.

The continuing weakening of the bank's franchise and financial
fundamentals drove Moody's rating action.  Reduced franchise
value and business activity have been the result of change in
Promtorgbank's ownership leading to departure of the bank's
several key corporate customers in 2005 and 2006.  As a result,
the bank reported negative trends in its bottom line
profitability and total assets size as at year-end 2005, while a
further decline in business volume together with net loss for
the year-end 2006 is most likely to be reported once the audited
IFRS statements are issued.  According to Moody's, a substantial
business squeeze has lead to further increase in concentration
levels on both sides of the bank's balance, rendering the bank's
credit standing no longer compatible with a B2 foreign currency
deposit rating.

The stable outlook reflects Moody's positive view of
management's efforts to attract a strategic investor as well as
to diversify its currently limited clientele.  Moody's notes
that although the B3 deposit rating has very limited upside
potential in the medium term, a track record of strengthening
financial profile and franchise value could exert upward
pressure on the rating.  Any change in ownership may result in a
change in the bank's deposit rating, but the direction and
magnitude of any rating change would depend on the strength of
the strategic partner and its commitment to the bank.

At the same time, Moody's noted that further deterioration of
the bank's fundamentals including but not limited to substantial
deterioration in asset quality or reduction in capitalization or
liquidity levels could have further negative implications for
Promtorgbank's ratings, as could any unjustified increase in
related-party business in the future, if found to be detrimental
to the bank's financial soundness.

Headquartered in Moscow, Russia, Bank JSC Industrial & Trade
Bank Promtorgbank reported total assets of USD280 million and
equity of USD63.3 million under IFRS as of Dec. 31, 2005.


REINFORCED CONCRETE: Creditors Must File Claims by April 10
-----------------------------------------------------------
Creditors of LLC Reinforced Concrete (TIN 0277068560, OGRN
1050204443585) have until April 10 to submit proofs of claim to:

         A. Almukhametov, Temporary Insolvency Manager
         Post User Box 4841
         Ufa-57
         450057 Bashkortostan
         Russia

The Arbitration Court of Bashkortostan commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. A07-24856/06-G-MOG.

The Court is located at:

         The Arbitration Court of Bashkortostan
         Oktyabrskoy Revolyutsii Str. 63a
         Ufa
         Bashkortostan
         Russia

The Debtor can be reached at:

         LLC Reinforced Concrete
         Ushakova Str. 88/1-130
         Ufa
         450068 Bashkortostan
         Russia


RUSSIAN VENTILATOR: Creditors Must File Claims by April 10
---------------------------------------------------------
Creditors of LLC Engineering Plant Russian Ventilator (TIN
4029030326) have until April 10 to submit proofs of claim to:

         F. Amarov, Insolvency Manager
         Sovetskaya Str., 106
         248032 Kaluga
         Russia
         Tel/Fax: 8(4842) 54-32-48

The Arbitration Court of Kaluga commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A23-3809/06B-8-305.

The Arbitration Court of Kaluga is located at:

         Staryj Torg Square 4
         Kaluga  
         Russia

The Debtor can be reached at:

         LLC Engineering Plant Russian Ventilator
         Aeroportovskiy Per. 45
         248926 Kaluga
         Russia


SARANSKIY WOODWORKING: Creditors Must File Claims by May 10
-----------------------------------------------------------
Creditors of OJSC Saranskiy Woodworking Factory have until
May 10 to submit proofs of claim to:

         S. Bolzin, Insolvency Manager
         Aleksandrovskoye Shosse 16
         Saransk, Mordoviya
         Russia

The Arbitration Court of Mordoviya commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A39-3771/06-116/12.

The Court is located at:

         The Arbitration Court of Mordoviya
         Kommunisticheskaya Str. 33
         Saransk
         Mordoviya Republic
         Russia

The Debtor can be reached at:

         OJSC Saranskiy Woodworking Factory
         Aleksandrovskoye Shosse 16
         Saransk, Mordoviya
         Russia


SARATOV-AUTO-TRANS: Creditors Must File Claims by May 10
--------------------------------------------------------
Creditors of OJSC Saratov-Auto-Trans have until May 10 to submit
proofs of claim to:

         L. Aladysheva, Insolvency Manager
         Apartment 112
         Kuznechnaya Str. 11/21
         410031 Saratov
         Russia

The Arbitration Court of Saratov commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A57-161 B/04-12.

The Court is located at:
         
         The Arbitration Court of Saratov  
         Babushkin Vvoz 1
         Saratov  
         Russia

The Debtor can be reached at:

         OJSC Saratov-Auto-Trans
         1st Sadovaya Str. 104
         410005 Saratov
         Russia


STARO-STEKLYANNIY DISTILLERY: Asset Sale Slated for April 10
------------------------------------------------------------
E. Porkhunov, the bidding organizer for OJSC Staro-Steklyanniy
Distillery (Bankr. Case No. A54-1342/2006), will open a public
auction for the company's properties at 10:00 a.m. on April 10
at:

         Building of ABK
         Pronya
         Star-Steklyannyj
         Spasskiy
         391090 Ryazan
         Russia

The company has set a RUR10,149,000 starting price for the
auctioned assets.

Interested participants have until April 5 to deposit an amount
of RUR730,800 to:

         E. Porkhunov, Bidding Organizer
         Settlement Account 40802810200010001008
         Correspondent Account 3010881050000000000708
         BIK 046126708
         PVTB (OJSC)(Promyshlennyj)
         Ryazan
         Russia

Bidding documents must be submitted to:

         E. Porkhunov
         Star-Steklyannyj
         Spasskiy
         391090 Ryazan
         Russia
         Tel: (235) 11-5-81

The Debtor can be reached at:

         OJSC Staro-Steklyanniy Distillery
         Pronya
         Star-Steklyannyj
         Spasskiy
         391090 Ryazan
         Russia


UST'-KUT-REM-SNAB: Creditors Must File Claims by April 10
---------------------------------------------------------
Creditors of OJSC Ust'-Kut-Rem-Snab have until April 10 to
submit proofs of claim to:

         V. Moiseev, Insolvency Manager
         Post User Box 342
         Ust'-Kut
         666793 Irkustk
         Russia

The Arbitration Court Irkustk commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A19-25752/06-38.

The Court is located at:  

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

The Debtor can be reached at:

         OJSC Ust'-Kut-Rem-Snab
         Shorsa Str. 2a
         Ust'-Kut
         666780 Irkustk
         Russia


VYAZNIKI-SEL-KHOZ-KHIMIYA: Claims Filing Period Ends April 10
-------------------------------------------------------------
Creditors of OJSC Vyazniki-Sel-Khoz-Khimiya have until April 10
to submit proofs of claim to:

         Y. Babkin, Temporary Insolvency Manager
         Post User Box 5
         600015 Vladimir
         Russia

The Arbitration Court of Vladimir commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. A11-14271/2006-K1-479B/24B.

The Court is located at:

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

The Debtor can be reached at:

         OJSC Vyazniki-Sel-Khoz-Khimiya
         Vyazniki, Vladimir
         Russia


YUZHNOYE OJSC: Creditors Must File Claims by April 10
-----------------------------------------------------
Creditors of OJSC Yuzhnoye (TIN 5622009320, OGRN 102560236963)
have until April 10 to submit proofs of claim to:

         O. Shevtsova, Temporary Insolvency Manager
         Komsomolskaya Str., 126-51
         460006 Orenburg
         Russia
         Tel: (3532) 73-25-68
         Fax: (3532) 36-13-37

The Arbitration Court of Orenburg will convene at 10:00 a.m. on
June 13 to hear the company's bankruptcy supervision procedure.  
The case is docketed under Case No. A47-32/2007-14 GK.

The Court is located at:

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

The Debtor can be reached at:

         OJSC Yuzhnoye
         Tsentralnaya Str. 2
         Krasnogorskiy
         Asekeevskiy
         461716 Orenburg
         Russia


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


ALIPES JSC: Creditors' Liquidation Claims Due April 12
------------------------------------------------------
Creditors of JSC Alipes have until April 12 to submit their
claims to:

         Philipp Andermatt
         Liquidator
         Dreikonigstrasse 7
         8022 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Alipes
         Zurich
         Switzerland


ASTRASOL JSC: Creditors' Liquidation Claims Due April 10
--------------------------------------------------------
Creditors of JSC Astrasol have until April 10 to submit their
claims to:

         H. Raber
         Liquidator
         Im Blatt A1
         6345 Neuheim ZG
         Switzerland

The Debtor can be reached at:

         JSC Astrasol
         Zug
         Switzerland


CARAVAN CENTER: Claims Registration Period Ends April 2
-------------------------------------------------------
The Bankruptcy Court of Laufen commenced bankruptcy proceedings
against JSC Caravan Center Angenstein on Feb. 9.

Creditors have until April 2 to file their written proofs of
claim.

The Bankruptcy Service of Laufen can be reached at:

         Bankruptcy Service of Laufen
         4242 Laufen BL
         Switzerland

The Debtor can be reached at:

         JSC Caravan Center Angenstein
         P.O. Box 4147 Aesch
         4202 Duggingen
         Laufen BL
         Switzerland


CHB JSC: Creditors' Liquidation Claims Due April 10
---------------------------------------------------
Creditors of JSC CHB have until April 10 to submit their claims
to:

         Rutz Peter
         Liquidator
         Wettenschwilerstrasse 14
         8545 Jona
         Switzerland

The Debtor can be reached at:

         JSC CHB
         Freienbach
         Hofe SZ
         Switzerland


ED. STURZENEGGER JSC: Creditors' Liquidation Claims Due April 15
----------------------------------------------------------------
Creditors of JSC Ed. Sturzenegger have until April 15 to submit
their claims to:

         Werkstrasse 5
         9000 St. Gallen
         Switzerland

The Debtor can be reached at:

         JSC Ed. Sturzenegger
         St. Gallen
         Switzerland


JOST HAMMER: Creditors' Liquidation Claims Due April 30
-------------------------------------------------------
Creditors of JSC Jost Hammer Management-Praxis have until
April 30 to submit their claims to:

         LLC BS Treuhand Partner
         Liquidator
         Hauptstrasse 42
         9030 Abtwil SG
         Switzerland

The Debtor can be reached at:

         JSC Jost Hammer Management-Praxis
         Gaiserwald SG
         Switzerland


KURIGER WOHNEN: Creditors' Liquidation Claims Due April 2
---------------------------------------------------------
Creditors of JSC Kuriger Wohnen have until April 2 to submit
their claims to:

         Paul-Bernhard Bayard
         Liquidator
         P.O. Box 60
         3900 Brig VS
         Switzerland

The Debtor can be reached at:

         JSC Kuriger Wohnen
         Einsiedeln SZ
         Switzerland


LOGICOM HANDELS: Creditors' Liquidation Claims Due April 10
-----------------------------------------------------------
Creditors of JSC Logicom Handels have until April 10 to submit
their claims to:

         Limmatquai 94
         8001 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Logicom Handels
         Zurich
         Switzerland


OKS SCHOCH: Claims Registration Period Ends April 2
---------------------------------------------------
The Bankruptcy Court of St. Gallen commenced bankruptcy
proceedings against LLC OKS Schoch on Feb. 13.

Creditors have until April 2 to file their written proofs of
claim.

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

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

The Debtor can be reached at:

         LLC OKS Schoch
         Hauptstrasse 96
         9430 St. Margrethen
         Wahlkreis Rheintal SG
         Switzerland


ROTHLISBERGER TRANSPORTE: Liquidation Claims Due April 5
--------------------------------------------------------
Creditors of JSC Rothlisberger Transporte have until April 5 to
submit their claims to:

         Beat Armin Rothlisberger
         Liquidator
         Jurastrasse 28
         3372 Wanzwil
         Wangen BE
         Switzerland

The Debtor can be reached at:

         JSC Rothlisberger Transporte
         Wanzwil
         Wangen BE
         Switzerland


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


TURKIYE GARANTI: Inks Share Purchase Deal with Eureko B.V.
----------------------------------------------------------
Turkiye Garanti Bankasi A.S. and Eureko B.V. signed a
transaction agreement under which Eureko will buy:

   -- an 80% stake in Garanti Sigorta A.S, representing YTL48
      million of nominal shares, for EUR365 million; and

   -- a 15% stake in Garanti Emeklilik ve Hayat A.S,
      representing YTL7.5 million of nominal shares, for EUR100
      million.

In addition, Eureko has been granted an option to acquire a
further 35% (+1) stake in Garanti Emeklilik ve Hayat A.S.,
exercisable after the third year of the deal closing within a
period of two years.

The transaction is expected to close by June 2007 once the
regulatory approvals have been obtained from the Turkish
Treasury and the Turkish Competition Authority.  The sale
proceeds will be received in cash on this date.  A capital gain
of US$577 million will be realized and be subject to the code
5-1/e of the Corporate Tax Law no.5520.

Effective as of the share transfer, a separate distribution and
sales agreement of insurance products between the Bank and
Garanti Sigorta A.S. and Garanti Emeklilik ve Hayat A.S will be
signed.

This partnership, where the management of both companies remains
unchanged, will enable to grow further the developing insurance
market in Turkey, and offer the wide array of insurance products
in Europe to the Turkish customers.

Watson Wyatt Limited, an international actuarial firm, acted as
the financial advisor for this transaction.

Headquartered in Istanbul, Turkey, Turkiye Garanti Bankasi A.S
-- http://www.garanti.com.tr/-- provides banking services  
through a network of 431 domestic branches and offices, 1,263
automated teller machines, three overseas branches in
Luxembourg, Northern Cyprus and Malta, and five representative
offices in Moscow, London, Dusseldorf, Shangai and Geneva.
Garanti owns a subsidiary bank in the Netherlands, Garanti Bank
International, and one in Russia, Garanti Bank Moscow.

                        *     *     *

As reported in the TCR-Europe on Nov. 2, 2006, Fitch Ratings
affirmed Turkiye Garanti Bankasi A.S.'s foreign currency Issuer
Default rating at BB.  At the same time the agency has affirmed
Garanti's other ratings at local currency IDR BB+, Short-term
foreign and local currency B, Individual C, Support 3, and
National Long-term AA.  Fitch said the Outlooks on the IDRs are
Positive and the Outlook on the National rating is Stable.


TURKIYE GARANTI: Shareholders' Meeting Slated for April 17
----------------------------------------------------------
Turkiye Garanti Bankasi A.S. will hold its Ordinary General
Shareholders' meeting on April 17 at:

         Levent Nispetiye Mahallesi
         Aytar Caddesi No: 2
         Besiktas - Istanbul, Turkey

Agenda:

   1. The opening, the formation of the Board of Presidency;

   2. The Authorization of the Board of Presidency to sign the
      minutes of the Ordinary General Shareholders' Meeting;

   3. The reading and discussion of Board of Directors' Annual
      Report and Auditors' Reports;

   4. The reading, discussion and ratification of the balance
      sheet and the income statement; the discussion and
      acceptance or refusal of Board of Directors' proposal
      regarding the dividend distribution;
  
   5. The voting of the appointment of the Board members during
      the year in order to replace the vacancies;

   6. The announcement of the members of the Board of Directors
      and Auditors;

   7. The determination of the Board members' and Auditors'
      remuneration;

   8. The information to the shareholders regarding the Bank's
      charitable donations during the year;

   9. The approval of the selected External Audit Company as per
      the related regulations set forth by the Banking
      Regulation and Supervision Agency; and

  10. The Authorization of the Board Members to conduct business
      with the Bank in accordance with Articles 334 and 335 of   
      Turkish Commercial Code provided that the provisions of
      Banks' Act are complied with.

Headquartered in Istanbul, Turkey, Turkiye Garanti Bankasi A.S
-- http://www.garanti.com.tr/-- provides banking services  
through a network of 431 domestic branches and offices, 1,263
automated teller machines, three overseas branches in
Luxembourg, Northern Cyprus and Malta, and five representative
offices in Moscow, London, Dusseldorf, Shangai and Geneva.
Garanti owns a subsidiary bank in the Netherlands, Garanti Bank
International, and one in Russia, Garanti Bank Moscow.

                        *     *     *

As reported in the TCR-Europe on Nov. 2, 2006, Fitch Ratings
affirmed Turkiye Garanti Bankasi A.S.'s foreign currency Issuer
Default rating at BB.  At the same time the agency has affirmed
Garanti's other ratings at local currency IDR BB+, Short-term
foreign and local currency B, Individual C, Support 3, and
National Long-term AA.  Fitch said the Outlooks on the IDRs are
Positive and the Outlook on the National rating is Stable.


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


BREAD-EXPORT LLC: Sumy Court Starts Bankruptcy Proceedings
----------------------------------------------------------
The Economic Court of Sumy commenced bankruptcy proceedings
against LLC Bread-Export (code EDRPOU 30561082) on Feb. 19 after
finding it insolvent.  The case is docketed under Case No.
8/49-07.

The Liquidator can be reached at:

         Tatiana Nagorneva
         Gagarin Str. 2
         40030 Sumy
         Ukraine

The Court is located at:

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

The Debtor can be reached at:

         LLC Bread-Export
         Belopolsky Road 17
         40009 Sumy
         Ukraine


DESSAU LLC: Zaporozhje Court Starts Bankruptcy Proceedings
----------------------------------------------------------
The Economic Court of Zaporozhje commenced bankruptcy
proceedings against LLC Trade Company Dessau (code EDRPOU
30837385) on Feb. 19 after finding it insolvent.  The case is
docketed under Case No. 25/36/07.

The Liquidator can be reached at:

         Nikita Nikitenko
         P.O. Box 411
         69037 Zaporozhje
         Ukraine

The Court is located at:

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

The Debtor can be reached at:

         LLC Trade Company Dessau
         Stalevarov Str. 13/49
         69035 Zaporozhje
         Ukraine


DIAPAZON OJSC: Rovno Court Starts Bankruptcy Proceedings
--------------------------------------------------------
The Economic Court of Rovno commenced bankruptcy proceedings
against OJSC Diapazon (code EDRPOU 24170480) on Jan. 12 after
finding it insolvent.  The case is docketed under Case No. 9/2.

The Liquidator can be reached at:

         Pavel Duplika
         P.O. Box 27
         Rovno-23
         33023 Rovno
         Ukraine

The Court is located at:

         The Economic Court of Rovno
         Yavornitski Str. 59
         33001 Rovno
         Ukraine

The Debtor can be reached at:

         OJSC Diapazon
         D. Galitsky Str. 25
         Rovno
         Ukraine


IMEXPROM LLC: Creditors Must File Proofs of Claim by March 29
-------------------------------------------------------------
Creditors of LLC Imexprom (code EDRPOU 33346503) have until
March 29 to submit written proofs of claim to:

         O. Scherban, Liquidator
         P.O. Box 157
         01030 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company on Jan. 31 after finding it insolvent.  The
case is docketed under Case No. 23/585-b.

The Court is located at:

         The Economic Court of Kiev
         B. Hmelnitskij Boulevard 44-B
         01030 Kiev
         Ukraine

The Debtor can be reached at:

         LLC Imexprom
         Moscow Avenue 15-a
         04073 Kiev
         Ukraine


KERCH AUTOGASSERVICE: Court Starts Bankruptcy Proceedings
---------------------------------------------------------
The Economic Court of AR Krym commenced bankruptcy proceedings
against CJSC Kerch Autogasservice (code EDRPOU 22247103) on
Feb. 6 after finding it insolvent.  The case is docketed under
Case No. 2-3/1030-2007.

The temporary insolvency manager can be reached at:

         G. Eremenko
         Pobeda Avenue 76
         Simferopol
         95000 AR Krym
         Ukraine

The Debtor can be reached at:

         CJSC Kerch Autogasservice
         Kokorin Str. 65
         Kerch
         98300 AR Krym
         Ukraine


KIEVINVESTGAS LLC: Kiev Court Starts Bankruptcy Proceedings
-----------------------------------------------------------
The Economic Court of Kiev commenced bankruptcy proceedings
against LLC Kievinvestgas (code EDRPOU 33691738) on Jan. 25
after finding it insolvent.  The case is docketed under Case No.
43/36.

The Liquidator can be reached at:

         Letskan Viacheslav
         Dovzhenko Str. 16v, ap. 42
         03057 Kiev
         Ukraine

The Court is located at:

         The Economic Court of Kiev
         B. Hmelnitskij Boulevard 44-B
         01030 Kiev
         Ukraine

The Debtor can be reached at:

         LLC Kievinvestgas
         Izium Str. 7
         03039 Kiev
         Ukraine


KRYSKI ALCOHOL: Chernigov Court Starts Bankruptcy Proceedings
-------------------------------------------------------------
The Economic Court of Chernigov commenced bankruptcy supervision
procedure on State Enterprise Kryski Alcohol Plant (code EDRPOU
00375378) on Feb. 5.  The case is docketed under Case No. 9/61b.

The temporary insolvency manager can be reached at:

         Svetlana Riazanova
         Belov Str. 18/77
         14032 Chernigov
         Ukraine

The Court is located at:

         The Economic Court of Chernigov
         Mir Avenue 20
         14000 Chernigov
         Ukraine

The Debtor can be reached at:

         State Enterprise Kryski Alcohol Plant
         Lenin Str. 1
         Kryski
         Koropsky District
         16213 Chernigov
         Ukraine


MOLODETSKOE LLC: Cherkassy Court Starts Bankruptcy Supervision
--------------------------------------------------------------
The Economic Court of Cherkassy commenced bankruptcy supervision
procedure on LLC Molodetskoe (code EDRPOU 30834583).  The case
is docketed under Case No. 01/96.

The temporary insolvency manager can be reached at:

         Sergey Smilianets
         Uritsky Str. 39
         Uman
         20300 Cherkassy
         Ukraine

The Court is located at:

         The Economic Court of Cherkassy
         Shevchenko Avenue 307
         18005 Cherkassy
         Ukraine

The Debtor can be reached at:

         LLC Molodetskoe
         Molodetskoe
         Manki District
         20146 Cherkassy
         Ukraine


NVP KIEV: Creditors Must File Proofs of Claim by March 29
---------------------------------------------------------
Creditors of LLC NVP Kiev Engineering (code EDRPOU 30313260)
have until March 29 to submit written proofs of claim to:

         O. Scherban, Liquidator
         P.O. Box 157
         01030 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company on Feb. 13 after finding it insolvent.  The
case is docketed under Case No. 15/65-b.

The Court is located at:

         The Economic Court of Kiev
         B. Hmelnitskij Boulevard 44-B
         01030 Kiev
         Ukraine

The Debtor can be reached at:

         LLC NVP Kiev Engineering
         Polupanov Str. 21
         04114 Kiev
         Ukraine


PROD-IMPEX LLC: Court Renews Bankruptcy Supervision Process
-----------------------------------------------------------
The Economic Court of Kiev renewed the bankruptcy supervision
procedure on LLC Prod-Impex (code EDRPOU 21613630) on Jan. 29.
The case is docketed under Case No. 23/41-b.

The temporary insolvency manager can be reached at:

         Ivan Radik
         Traktorostroiteley Str. 140-B
         Kharkov
         Ukraine

The Court is located at:

         The Economic Court of Kiev
         B. Hmelnitskij Boulevard 44-B
         01030 Kiev
         Ukraine

The Debtor can be reached at:

         LLC Prod-Impex
         Traktorostroiteley Str. 140-B
         Kharkov
         Ukraine


ROZMETAL LLC: Dnipropetrovsk Court Starts Bankruptcy Proceedings
----------------------------------------------------------------
The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against LLC Rozmetal (code EDRPOU 32163791) on
Feb. 15 after finding it insolvent.  The case is docketed under
Case No. B 24/24-07.

The court is located at:

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

The Debtor can be reached at:

         LLC Rozmetal
         Nikopol
         Dnipropetrovsk
         Ukraine


STELLA LLC: Creditors Must File Proofs of Claim by March 29
-----------------------------------------------------------
Creditors of LLC Stella (code EDRPOU 31287682) have until
March 29 to submit written proofs of claim to:

         O. Scherban, Liquidator
         P.O. Box 157
         01030 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company on Jan. 31 after finding it insolvent.  The
case is docketed under Case No. 43/19.
The Court is located at:

         The Economic Court of Kiev
         B. Hmelnitskij Boulevard 44-B
         01030 Kiev
         Ukraine

The Debtor can be reached at:

         LLC Stella
         Malinovsky Str. 34
         04210 Kiev
         Ukraine


TRADE HOUSE: AR Krym Court Starts Bankruptcy Proceedings
--------------------------------------------------------
The Economic Court of AR Krym commenced bankruptcy proceedings
against LLC Trade House - South Poultry Factory (code EDRPOU
32080710) on Feb. 15 after finding it insolvent.  The case is
docketed under Case No. 2-6/14610-2006.

The liquidator can be reached at:

         Vasily Kuhta
         P.O. Box 2745
         Simferopol
         95048 AR Krym
         Ukraine

The Court is located at:

         The Economic Court of AR Krym
         Karl Marks Str. 18
         Simferopol
         95000 AR Krym
         Ukraine

The Debtor can be reached at:

         LLC Trade House - South Poultry Factory
         Shkolnaya Str. 2
         Perovo
         97560 AR Krym
         Ukraine


UKRAINIAN TRADE: Zaporozhje Court Starts Bankruptcy Proceedings
---------------------------------------------------------------
The Economic Court of Zaporozhje commenced bankruptcy
proceedings against LLC Ukrainian Trade Service (code EDRPOU
30077533) on Feb. 20 after finding it insolvent.  The case is
docketed under Case No. 19/149(05).

The liquidator can be reached at:

         O. Baranov, Liquidator
         P.O. Box 4976
         69104 Zaporozhje
         Ukraine

The Court is located at:

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

The Debtor can be reached at:

         LLC Ukrainian Trade Service
         House of Rest Str. 42
         69017 Zaporozhje
         Ukraine


QUINTA AND K: Rovno Court Starts Bankruptcy Proceedings
-------------------------------------------------------
The Economic Court of Rovno commenced bankruptcy proceedings
against LLC Quinta and K (code EDRPOU 30377539) on Jan. 17 after
finding it insolvent.  The case is docketed under Case No. 9/1.

The Liquidator can be reached at:

         Pavel Duplika
         P.O. Box 27
         Rovno-23
         33023 Rovno
         Ukraine

The Court is located at:

         The Economic Court of Rovno
         Yavornitski Str. 59
         33001 Rovno
         Ukraine

The Debtor can be reached at:

         LLC Quinta and K
         Zheleznodorozhnaya Str. 2
         Klevan
         Rovno
         Ukraine


ZOLOTONOSHA SHEVCHENKO: Court Starts Bankruptcy Supervision
-----------------------------------------------------------
The Economic Court of Cherkassy commenced bankruptcy supervision
procedure on CJSC Zolotonosha Shevchenko Breadmaking Factory
(code EDRPOU 31718314) on Feb. 15.  The case is docketed under
Case No. 10/691.

The temporary insolvency manager can be reached at:

         Sergey Zozulia
         Shevchenko Boulevard 250
         Cherkassy
         Ukraine

The Court is located at:

         The Economic Court of Cherkassy
         Shevchenko Avenue 307
         18005 Cherkassy
         Ukraine

The Debtor can be reached at:

         CJSC Zolotonosha Shevchenko Breadmaking Factory
         Kropivnaya
         Zolotonosha District
         19763 Cherkassy
         Ukraine


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


BLANDFORD DIRECT: Appoints BDO Stoy as Joint Administrators
-----------------------------------------------------------
Francis Graham Newton and Toby Underwood of BDO Stoy Hayward LLP
were appointed joint administrators of Blandford Direct Retail
Ltd. (Company Number 01864670) on March 13.

BDO Stoy Hayward -- http://www.bdo.co.uk/-- focuses on business  
assurance (audit), corporate advisory, tax, and investment
management services, specializing in such industries as
charities, educational institutions, family businesses,
financial services, leisure, and hospitality.  The company is
the U.K. arm of BDO International and has offices in more than
15 cities throughout the U.K.

The company can be reached at:

         Blandford Direct Retail Ltd.
         17 Stafford Street  
         Edinburgh  
         Midlothian  
         EH3 7BJ  
         Scotland
         Tel: 0131 220 2328


BRITISH WOODWARES: Creditors' Meeting Slated for March 30
---------------------------------------------------------
Creditors of British Woodwares Ltd. will meet at 12:30 p.m. on
March 30 at the offices of:
  
         UHY Hacker Young  
         St. Alphage House
         2 Fore Street  
         London  
         EC2Y 5DH
         England

Creditors who want to vote at the meeting have until noon on  
March 29 to submit their proxy forms together with particulars
of their claims or of any security at the said address.
  
Alan J. Clark of Carter Clark will furnish creditors with
information concerning the company's affairs free of charge as
they may reasonably require.

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 28.


BROOKS HAMMOND: Creditors' Meeting Slated for April 12
------------------------------------------------------
Creditors of Brooks Hammond Ltd. will meet at noon on April 12
at the offices of:
  
         Harris Lipman  
         2 Mountview Court  
         310 Friern Barnet Lane
         Whetstone
         London  
         N20 0YZ
         England

Creditors have until noon on April 11 to submit their proxy
forms at the said address.
  
A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and  
4:00 p.m. on April 10 and April 11.


CHANAZ LTD: High Court to Hear Wind-Up Petition on May 14
---------------------------------------------------------
The Secretary of State for Trade and Industry has presented
petitions in the High Court to wind up First Install South Ltd.
and Chanaz Ltd. (formerly known as First For Fragrance Ltd.) in
the public interest.

First Install South Ltd. carried on business under the style of
"First For Fragrance" and sold the rights to exclusive
geographical areas enabling franchisees to site and operate
vending machines, which dispensed fragrances.  First For
Fragrance Ltd. was incorporated to preserve the "First For
Fragrance" trading style.

The petitions to wind up the companies were presented following
an investigation carried out by Companies Investigation Branch
under section 447 of the Companies Act 1985 (as amended).

The Official Receiver has been appointed as provisional
liquidator of both companies and both companies have now ceased
trading.

The case is now subject to High Court action and no further
information will be available until the petitions are heard on
May 14.


COLLINS & AIKMAN: Court Okays CB Richard's Employment Agreement
---------------------------------------------------------------
The Honorable Steven W. Rhodes of the U.S. Bankruptcy Court for
the Eastern District of Michigan authorized Collins & Aikman
Corp. and its debtor-affiliates to amend the terms of their
employment agreement with real estate consultants CB Richard
Ellis Inc. and Keen Realty LLC.

The amended real estate retention agreement dated Feb. 8
includes these material provisions:

   (a) the term of the Agreement is extended until Dec. 31,
       2007;

   (b) the Consultants will be paid US$35,000 per month for two  
       months in exchange for services provided during that time  
       to procure a tenant to sublease the Debtors' headquarters  
       in Southfield;

       In addition, the Consultants will receive 5% of the total
       amount that any sublessee agrees to pay or any assignee  
       assumes;

   (c) the Consultants compensation from the sale of owned  
       properties is amended from 3.75% of the gross proceeds of  
       any transaction to:

       * 6% of the aggregate gross proceeds up to US$7,500,000;

       * 4.88% of the aggregate Gross Proceeds from US$7,500,000  
         through US$12,500,500; and

       * 3% of any aggregate Gross Proceeds in excess of  
         US$12,500,501.

   (d) the Consultants are neither responsible for refunding  
       monthly fees of US$35,000 paid in relation to the
       headquarters nor any future fees.

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.  

The Debtors' disclosure statement explaining their First Amended
Joint Chapter 11 Plan was approved on Jan. 25, 2007.  (Collins &
Aikman Bankruptcy News, Issue No. 56; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


COLLINS & AIKMAN: Still Unable to File Financial Reports
--------------------------------------------------------
Stacy Fox, executive vice president, chief administrative
officer and general counsel for Collins & Aikman Corp., reports
in a regulatory filing with the U.S. Securities and Exchange
Commission that the company is still unable to file its Form 10-
k for the year ended Dec. 31, 2006, with financial statements.  

Collins' former independent auditors, KPMG LLP, are also unable
to complete their audits of the company's 2004 and 2005
financial statements and review of subsequent interim financial
statements because:

    -- of the ongoing independent accounting issues that are
       expected to require a restatement of certain previously
       reported periods;

    -- Collins' Chapter 11 filing; and

    -- with respect to the year ended Dec. 31, 2006, the company
       has not engaged an independent auditor to conduct an
       audit in light of its pending efforts to reorganize under
       Chapter 11 and the costs and expenses associated with the
       audit.

The company has not filed its Form 10-k for the fiscal years
ended Dec. 31, 2004, and Dec. 31, 2005, and Form 10-Q for the
fiscal quarters ended March 31, 2005; June 30, 2005; Sept. 30,
2005; March 31, 2006; June 30, 2006; and Sept. 30, 2006.

Ms. Fox relates that Collins anticipates significant change in
results of operations based on the impact of the accounting
issues.  In addition, in light of its Chapter 11 filing, Collins
anticipates that there will be a significant change in the
results of operations from the corresponding period for the
prior year, but is unable to currently assess the amount of the
change as a result of the ongoing restructuring process.

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.  

The Debtors' disclosure statement explaining their First Amended
Joint Chapter 11 Plan was approved on Jan. 25, 2007.  (Collins &
Aikman Bankruptcy News, Issue No. 56; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


CORONIS PLC: Fitch Upgrades GBP13.7-Million Class F Notes to B
--------------------------------------------------------------
Fitch Ratings upgraded Coronis Plc's Classes D, E and F and
affirmed Class C as shown below:

   -- GBP30.0 million Class C affirmed at 'AAA'

   -- GBP32.3 million Class D upgraded to 'AAA' from 'AA-'

   -- GBP29.6 million Class E upgrade to 'BBB' from 'BB+'

   -- GBP13.7 million Class F upgraded to 'B'/'DR1' from
      'CCC+'/'DR1'

The rating actions reflect the recent improvements within the
defaulted Bridge Properties Investments Limited loan and the
ongoing excellent performance of the only other outstanding
loan, Readingview.  Although concerns remain as detailed below,
the improved situation warrants the rating actions listed above.

Following the January 2007 sale of the Claylands property and
the recent sales of the Highgrounds, Reading and Uxbridge
properties, the BPIL loan is currently backed by four Seafield
properties and a commercial portfolio of eight properties.  At
the January 2007 interest payment date, the GBP34.2 million loan
had a loan-to-value of 82.4%, a result of the property sales and
the application of all net sales proceeds toward loan/ note
redemption.  Since then, a desktop revaluation has been
conducted for the remaining properties, showing 13% increase in
value.  The resulting LTV of 72.9% is a significant improvement
from the maximum LTV of 98%, reached in October 2005.

The only remaining property to be sold is Aylesham, an
industrial warehouse let to Seafield Logistics Limited.  It is
the only property to decline in value since 2005, to
GBP.85 million from GBP1.6 million, and its disposal will have a
limited effect on the overall LTV.  Further property disposals
will then require special servicer approval.

Financial difficulties of the main tenant in BPIL, Seafield,
have been ultimately responsible for both defaults of the loan,
in 2003 and 2006.  To a certain degree, Poole Pottery, still
tenant in one of the remaining properties, has been involved as
well.  Fitch notes that Poole Pottery entered into
administration in December 2006.

The GBP72.5-million Readingview loan is backed by Oracle
Shopping Centre.  Its performance remains good, with an LTV of
49.4% and a current interest coverage ratio of 2.8x.  Like BPIL,
Readingview is interest only.  Both loans mature in October
2008.  The redemption of Readingview would result in the full
redemption of the Classes C and D notes and would leave
approximately GBP20 million of Class E and the whole of Class F
outstanding.

The available funds cap was hit in April 2006 and at the
subsequent interest payment date, as a result of adverse
prepayments and increased senior expenses in relation to the
BPIL loan.  To date, written-off interest totals GBP0.47
million.  The likelihood of an AFC hit had been taken into
account in the original analysis.


COUNTRYCARE FARM: Creditors' Meeting Slated for April 3
-------------------------------------------------------
Creditors of Countrycare Farm Supplies Ltd. will meet at noon on
April 3 at the offices of:
  
         CBA
         39 Castle Street
         Leicester  
         LE1 5WN
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge on March 30.


DAVRO COMMERCIAL: Creditors' Meeting Slated for April 12
--------------------------------------------------------
Creditors of Davro Commercial Vehicles Ltd. will meet at  
11:00 a.m. on April 12 at:
  
         Hodgsons
         George House
         48 George Street
         Manchester  
         M1 4HF
         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. from April 10.


DBSXMEDIA LTD: Taps Liquidators from Begbies Traynor
----------------------------------------------------
Timothy John Edward Dolder and Nicholas Roy Hood of Begbies
Traynor (South) LLP were appointed joint liquidators of
dbsXmedia Ltd. on March 6 for the creditors' voluntary winding-
up procedure.

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

The company can be reached at:

         dbsXmedia Ltd.
         Tamar Science Park
         15 Research Way
         Plymouth
         Devon
         PL6 8BT
         England
         Tel: 0845 130 1135


DKLL SOLICITORS: Taps BDO Stoy to Administer Assets
---------------------------------------------------
Malcolm Cohen and Antony David Nygate of BDO Stoy Hayward LLP
were appointed joint administrators of DKLL Solicitors on
March 6.

BDO Stoy Hayward -- http://www.bdo.co.uk/-- focuses on business  
assurance (audit), corporate advisory, tax, and investment
management services, specializing in such industries as
charities, educational institutions, family businesses,
financial services, leisure, and hospitality.  The company is
the U.K. arm of BDO International and has offices in more than
15 cities throughout the U.K.

The company can be reached at:

         DKLL Solicitors
         7A Ashley Road  
         Epsom  
         Surrey  
         KT18 5AQ  
         England
         Tel: 01372 729 533


ELLIOT TAYLOR: Names David Jenner Cork Liquidator
-------------------------------------------------
David Jenner Cork of McCabe Ford Williams was appointed
liquidator of Elliot Taylor Ltd. on March 14 for the creditors'
voluntary winding-up procedure.

The company can be reached at:

         Elliot Taylor Ltd.
         62 Addiscombe Road
         Margate
         Kent    
         CT9 2SU
         England
         Tel: 01843 571 175
         Fax: 01843 571


EUROFRESH DESIGNS: Creditors' Meeting Slated for April 4
--------------------------------------------------------
Creditors of Eurofresh Designs Ltd. will meet at 11:00 a.m. on
April 4 at:
  
         HKM LLP
         The Old Mill
         9 Soar Lane
         Leicester  
         LE3 5DE  
         England
         Fax: 0116 242 5201

Creditors who want to vote at the meeting have until noon on
April 3 to submit their proxy forms together with particulars of
their claims or of any security at the said address.
  
HKM LLP -- http://www.hkm.co.uk/-- is an independent and  
regulated firm of accountants, business and taxation advisors
and insolvency specialists.  In July 2004, HKM Harlow Khandhia
Mistry changed its business status to become a limited liability
partnership and is now known as HKM LLP.


EUROPA TWO: S&P Affirms BB Ratings on Class E Notes
---------------------------------------------------
Standard & Poor's Ratings Services raised to 'A' from 'A-' its
credit ratings on nine classes of notes across four European
CMBS and RMBS synthetic transactions:

   -- Eurohypo 2000-1 Credit Linked Notes,
   -- Residence 2000-1,
   -- Europa One Ltd., and
   -- Europa Two Ltd.

following the upgrade of:

   -- Eurohypo AG to 'A/Stable/A-1' from 'A-/Positive/A-2'; and
   -- Commerzbank AG to 'A/Stable/A-1' from 'A-/Positive/A-2'.  

At the same time, the credit ratings on the remaining classes of
notes in the four securitizations were affirmed.

The upgrade of Commerzbank AG reflects Standard & Poor's raised
level of confidence of the sustainability of Commerzbank's
improved financial profile, underpinned by the more favorable
domestic economic environment.  Eurohypo is a related core
subsidiary of Commerzbank.

In the Eurohypo 2000-1 Credit Linked Notes RMBS transaction, the
upgraded notes were issued by Eurohypo itself and are therefore
its direct unsecured obligations.  The same mechanism applies to
Residence 2000-1: the class B and C notes were directly issued
by Commerzbank and hence are linked to the senior debt rating on
Commerzbank.  In the Europa One and Europa Two CMBS
transactions, issuers invested note proceeds in unsecured,
unsubordinated notes of Eurohypo.  Therefore, the affected notes
are directly credit-linked to Eurohypo's unsecured rating and
have been raised to match the Eurohypo rating.  The rating
actions on the four transactions are not related to the
performance of the underlying reference pools.

                          Ratings List

               Class                Rating
                             To                 From

Eurohypo 2000-1 Credit Linked Notes
   EUR500 Million Credit-Linked Notes
  
                        Ratings Raised
              B1             A                  A-
              B2             A                  A-
              B3             A                  A-
              B4             A                  A-
  
                       Ratings Affirmed
              A              AAA
              C1             BBB
              C2             BBB
              C3             BBB
  
Residence 2000-1
   EUR1 billion floating-rate amortizing credit-linked notes
  
                        Ratings Raised
              B               A                  A-
  
                       Ratings Affirmed
              A2             AAA
              C              BBB+
  
Europa One Ltd.
   EUR1.355 Billion Floating-Rate Amortizing Credit-Linked And
   Funding Notes
  
                        Ratings Raised
              C              A                  A-
              D              A                  A-
  
                       Ratings Affirmed
              A-3            AAA
              B              AAA
              M              AAA
              E              BBB
  
Europa Two Ltd.
EUR1.541 Billion Amortizing Credit-Linked Notes
  
                        Ratings Raised
              C1              A                 A-
              C2              A                 A-
  
                       Ratings Affirmed
              B              AA
              D1             BBB
              D2             BBB
              E              BB


FELL ARTHUR: Brings In Joint Administrators from Baker Tilly
------------------------------------------------------------
Graham Paul Bushby and Nigel Millar of Baker Tilly were
appointed joint administrators of Fell, Arthur & Bennett Ltd.
(Company Number 00860118) on March 12.

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

The company can be reached at:

         Fell, Arthur & Bennett Ltd.
         257 Moseley Road  
         Birmingham  
         West Midlands  
         B12 0BY  
         England
         Tel: 0121 446 4626  
         Fax: 0121 446 4192


FIRST INSTALL: High Court to Hear Wind-Up Petition on May 14
------------------------------------------------------------
The Secretary of State for Trade and Industry has presented
petitions in the High Court to wind up First Install South Ltd.
and Chanaz Ltd. (formerly known as First For Fragrance Ltd.) in
the public interest.

First Install South Ltd. carried on business under the style of
"First For Fragrance" and sold the rights to exclusive
geographical areas enabling franchisees to site and operate
vending machines, which dispensed fragrances.  First For
Fragrance Ltd. was incorporated to preserve the "First For
Fragrance" trading style.

The petitions to wind up the companies were presented following
an investigation carried out by Companies Investigation Branch
under section 447 of the Companies Act 1985 (as amended).

The Official Receiver has been appointed as provisional
liquidator of both companies and both companies have now ceased
trading.

The case is now subject to High Court action and no further
information will be available until the petitions are heard on
May 14.


HOLLY CONSTRUCTION: Creditors' Meeting Slated for March 30
----------------------------------------------------------
Creditors of Holly Construction Ltd. (Company Number 01128870)
will meet at 3:00 p.m. on March 30 at:

         Tenon Recovery
         Tenon House
         Ferryboat Lane
         Sunderland  
         SR5 3JN
         England

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims at noon on March 29 at:

         Ian William Kings
         Administrator
         Tenon Recovery
         Tenon House
         Ferryboat Lane
         Sunderland  
         SR5 3JN
         England
         Tel: 0191 511 5000
         Fax: 0191 511 5001

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


HURST PARNELL: Creditors' Meeting Slated for April 3
----------------------------------------------------
Creditors of Hurst Parnell Westland Ltd. (Company Number
03754057) will meet at noon on April 3 at:

         The Telford Whitehouse Hotel
         Watling Street
         Telford  
         TF1 2NJ
         England

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims at noon on April 2 at:

         R. J. Hill
         Joint Administrator
         KPMG LLP Restructuring
         100 Temple Street
         Bristol  
         BS1 6AG
         England
         Tel: (0117) 905 4000
         Fax: (0117) 905 4001

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


INNKING LTD: Creditors' Meeting Slated for April 5
--------------------------------------------------
Creditors of Innking Ltd. will meet at 10:30 a.m. on April 5 at:
  
         Gibson Hewitt & Co.
         5 Park Court
         Pyrford Road
         West Byfleet
         Surrey  
         KT14 6SD
         England

Creditors who want to vote at the meeting have until noon on  
April 4 to submit their proxy forms at the said address.
  
A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and  
5:00 p.m. on April 3.


ITRON INC: S&P Holds Watch Negative Pending Actaris Acquisition
---------------------------------------------------------------
Standard & Poor's ratings on Itron Inc. remain on CreditWatch
with negative implications, including the 'BB-' corporate credit
rating.  The ratings were placed on CreditWatch on Feb. 26,
2007, following the report that the company would purchase
Luxembourg-based meter manufacturer Actaris Metering for more
than US$1.6 billion.

Standard & Poor's will resolve the CreditWatch listing upon
completion of the acquisition.  If it is completed as planned,
the corporate credit rating on Itron would be lowered to 'B+'.  
The outlook would be stable.  Itron is an electricity meter
manufacturer and automated mater reading technology provider.

At the same time, Standard & Poor's assigned its loan and
recovery ratings to Itron's proposed US$1.1 billion senior
secured first-lien credit facilities, based on preliminary terms
and conditions.  The credit facilities were rated 'B+' with a
recovery rating of '3', indicating our expectation for a
meaningful recovery of principal by lenders in the event of a
default.  The facilities will be used along with cash balances
(partially derived from a US$345 million convertible note
offering and a US$235 million issuance of equity) to fund the
acquisition.

Standard & Poor's will withdraw its rating on the company's
existing US$55 million revolving credit facility upon the
closing of the new facilities.


JI ENTERTAINMENT: Brings In Ernst & Young as Administrators
-----------------------------------------------------------
Simon Allport and Alan Michael Hudson of Ernst & Young LLP were
appointed March 13, joint administrators of:

   -- JI Entertainment Ltd. (Company Number 05523648);
   -- Idols Bars Ltd. (Company Number 05523648);
   -- Krash Discotheque Ltd. (Company Number 05523557);
   -- Blue Bar Restaurants Ltd. (Company Number 05523628); and
   -- Pan American Club Ltd. (Company Number 03410573).

Ernst & Young -- http://www.ey.com/-- provides broad array of  
services relating to audit and risk-related services, tax, and
transactions across all industries-from emerging growth
companies to global powerhouses-deal with a broad range of
business issues.   

Headquartered in Preston, England, JI Entertainment Ltd. --  
http://www.jientertainment.co.uk/-- operates bars and  
nightclubs.


JOEY LOONS: Claims Filing Period Ends April 11
----------------------------------------------
Creditors of Joey Loons Ltd. have until April 11 to prove their
debts submit proofs of claim to:

         Roderick John Weston
         Liquidator
         Mazars LLP
         24 Bevis Marks
         London  
         EC3A 7NR
         England

Roderick John Weston of Mazars LLP was appointed liquidator of
the company on Feb. 26.

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


LONDON AND EDINBURGH INNS: Calls In Liquidators from E&Y
--------------------------------------------------------
Roy Bailey and Angela Swarbrick of Ernst & Young LLP were
appointed joint liquidators of London And Edinburgh Inns Ltd. on
March 13 for the creditors' voluntary winding-up procedure.

Ernst & Young -- http://www.ey.com/-- provides broad array of  
services relating to audit and risk-related services, tax, and
transactions across all industries-from emerging growth
companies to global powerhouses-deal with a broad range of
business issues.


MACROMEDIA EUROPE: Claims Filing Period Ends April 26
-----------------------------------------------------
Creditors of Macromedia Europe Ltd. have until April 26 to prove
their debts by sending written statements of the amounts they
claim to be due to them from the company to:

         Simon James Underwood
         Joint Liquidator
         Wilkins Kennedy
         Bridge House
         London Bridge
         London  
         SE1 9QR
         England

Simon James Underwood and Colin George Wiseman of Wilkins
Kennedy were appointed joint liquidators of the company on  
March 12.


MICHAEL COSTER: Hires Liquidators from Baker Tilly
--------------------------------------------------
Andrew White and Susan Agnes Maund of Baker Tilly were appointed
joint liquidators of Michael Coster Ltd. (t/a Coster Associates)
on March 13 for the creditors' voluntary winding-up proceeding.

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

The company can be reached at:

         Michael Coster Ltd.
         Bank House
         High Street
         Horam
         Heathfield
         East Sussex
         TN2 10EH
         England
         Tel: 01435 810 077
         Fax: 01435 812 208


MWMS SERVICES: Appoints Joint Administrators from PwC
-----------------------------------------------------
Graham H. Martin, Laurie K. Manson and Robert N. Lewis of
PricewaterhouseCoopers LLP were appointed joint administrators
of MWMS Services (Kemble) Ltd. (Company Number 03618716) on
March 12.

PricewaterhouseCoopers LLP -- http://www.pwcglobal.com/--  
provides auditing services, accounting advice, tax compliance
and consulting, financial consulting and advisory services to
clients in a variety of industries.   

The company can be reached at:

         MWMS Services (Kemble) Ltd.
         2 Chapel Court  
         Southwark  
         London  
         SE1 1HH  
         England
         Tel: 020 7357 8181


NAVISITE INC: Jan. 31 Balance Sheet Upside-Down by US$1.67 Mln
--------------------------------------------------------------
NaviSite Inc. reported a US$3.81 million net loss on US$30.19
million of total revenues for the second quarter ended Jan. 31,
2007, compared with a net loss of US$3.96 million on total
revenues of US$26.3 million for the same quarter a year ago.  

At Jan. 31, 2007, the company's balance sheet showed US$100.78
million in total assets and US$102.45 million in total
liabilities, resulting in a US$1.67 million stockholders'
deficit.  Accumulated deficit as of Jan. 31, 2007, stood at
US$476.32 million.

The company's January 31 balance sheet also showed strained
liquidity with total current assets of US$26.36 million
available to pay total current liabilities of US$35.78 million.

Total cost of revenues for the quarter ended Jan. 31, 2007, was
US$20.54 million, as compared with US$18.69 million for the same
quarter a year ago.

For the six months ended Jan. 31, 2007, the company had a net
loss of US$6.45 million on total revenues of US$58.73 million,
as compared with a net loss of US$7.43 million on total revenues
of US$51.74 million for the same period a year ago.

Total cost of revenues for the six months ended Jan. 31, 2007,
was US$39.78 million, as compared with US$36.37 million for the
same period a year ago.

             Liquidity and Capital Resources

As of Jan. 31, 2007, the company's principal sources of
liquidity included cash and cash equivalents of US$2.97 million,
a revolving credit facility of US$3 million provided by Silver
Point Finance and a revolving credit facility with Atlantic
Investors LLC, to borrow a maximum amount of US$5 million.  The
company had a working capital deficit of US$9.4 million,
including cash and cash equivalents of about US$3 million at
Jan. 31, 2007, as compared with a working capital deficit of
US$9.1 million, including cash and cash equivalents of US$3.4
million, at July 31, 2006.

Total net change in cash and cash equivalents for the six months
ended Jan. 31, 2007, was a decrease of US$400,000.  The primary
uses of cash during the six months ended Jan. 31, 2007, included
US$2.9 million for purchases of property and equipment and about
US$2.8 million in repayments on notes payable and capital lease
obligations.  

The company's primary sources of cash during the six months
ended Jan. 31, 2007, were US$2.6 million of cash generated from
operating activities, US$1 million in proceeds from exercise of
stock options and warrants and US$1.8 million in proceeds from
note payable.  Net cash generated from operating activities of
US$2.6 million during the six months ended Jan. 31, 2007,
resulted primarily from non-cash charges of about US$10 million,
which was partially offset by funding our US$6.5 million net
loss and US$1 million of net changes in operating assets and
liabilities.

Full-text copies of the company's second quarter financial
results are available for free at:

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

                       About NaviSite, Inc.

NaviSite, Inc. (NASDAQ: NAVI) -- http://www.navisite.com/--  
provides application and technology services for companies who
seek to accelerate their business IT performance.  NaviSite,
Inc. has over 950 customers in 14 data centers, offices in the
US, U.K., and India.


OPUS RECRUITMENT: Creditors Confirm Liquidator's Appointment
------------------------------------------------------------
Creditors of Opus Recruitment Ltd. confirmed on March 14 the
appointment of John Russell and Alan Philip Wood of The P&A
Partnership as the company's liquidators.

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

The company can be reached at:

         Opus Recruitment Ltd.
         Ashfield Avenue
         Mansfield
         Nottinghamshire
         NG18 2AE    
         England
         Tel: 01623 404 226


PENNY PLAIN: Brings In Joint Administrators from BDO Stoy
---------------------------------------------------------
Francis Graham Newton and Toby Underwood of BDO Stoy Hayward LLP
were appointed joint administrators of Penny Plain Ltd. (Company
Number 04985786) on March 13.

BDO Stoy Hayward -- http://www.bdo.co.uk/-- focuses on business  
assurance (audit), corporate advisory, tax, and investment
management services, specializing in such industries as
charities, educational institutions, family businesses,
financial services, leisure, and hospitality.  The company is
the U.K. arm of BDO International and has offices in more than
15 cities throughout the U.K.

The company can be reached at:

         Penny Plain Ltd.
         7 South Street  
         Chichester  
         West Sussex  
         PO19 1EH  
         England
         Tel: 01243 531 074


PPA UK: High Court Closes Down Business
---------------------------------------
The Chancery Division of the High Court of Justice has closed
down Liverpool, England-based charity publishers Publications
Ltd. and PPA (U.K.) Ltd. following an investigation by the
Companies Investigation Branch of the Insolvency Service.

Both companies published funbooks on behalf of the charity
Tenovus, the cancer charity for the charity to sell in its shops
throughout the country.  However the companies mislead
advertisers into thinking that all their advertisement fees
would go directly to the charity when in fact less than 1% of
the GBP500,000 collected by Publications Ltd was paid over to
the charity.

The companies also claimed to be working on behalf of the
emergency services in producing "The 365 Emergency Services
Annual Journal" when it had no links to any of the emergency
services and all the advertising revenue went directly to the
companies.

The investigation revealed that the companies failed to comply
with charity regulations by not informing advertisers of the
proportion of their fees which would go to charity.  The
advertisers were aggressively pursued for payment and
advertisers who failed to pay were harassed for payment and
threatened with bailiffs.

The petitions to wind-up the companies in the public interest
were presented on Jan. 9 under the provisions of s124A of the
Insolvency Act 1986 following investigations carried out under
Section 447 of the Companies Act 1985 by the Companies
Investigation Branch of the Insolvency Service.  A provisional
liquidator was appointed in respect of PPA (U.K.) Ltd. on
Jan. 23 and the Winding-up Orders were made on March 9.


PUBLICATIONS LTD: High Court Closes Down Business
-------------------------------------------------
The Chancery Division of the High Court of Justice has closed
down Liverpool, England-based charity publishers Publications
Ltd. and PPA (U.K.) Ltd. following an investigation by the
Companies Investigation Branch of the Insolvency Service.

Both companies published funbooks on behalf of the charity
Tenovus, the cancer charity for the charity to sell in its shops
throughout the country.  However the companies mislead
advertisers into thinking that all their advertisement fees
would go directly to the charity when in fact less than 1% of
the GBP500,000 collected by Publications Ltd was paid over to
the charity.

The companies also claimed to be working on behalf of the
emergency services in producing "The 365 Emergency Services
Annual Journal" when it had no links to any of the emergency
services and all the advertising revenue went directly to the
companies.

The investigation revealed that the companies failed to comply
with charity regulations by not informing advertisers of the
proportion of their fees which would go to charity.  The
advertisers were aggressively pursued for payment and
advertisers who failed to pay were harassed for payment and
threatened with bailiffs.

The petitions to wind-up the companies in the public interest
were presented on Jan. 9 under the provisions of s124A of the
Insolvency Act 1986 following investigations carried out under
Section 447 of the Companies Act 1985 by the Companies
Investigation Branch of the Insolvency Service.  A provisional
liquidator was appointed in respect of PPA (U.K.) Ltd. on
Jan. 23 and the Winding-up Orders were made on March 9.


RILEY DUNN: Brings In Tenon Recovery to Administer Assets
---------------------------------------------------------
Kenny Craig and Tom MacLennan of Tenon Recovery were appointed
joint administrators of Riley Dunn and Wilson Ltd. on March 20.

The company sales gradually declined over recent years in the
face of the general move towards electronic data storage.  This
resulted in a significant operating loss last year, which left
the company facing financial difficulty.  After fully assessing
the position, the directors decided to appoint administrators.

RDW had a total workforce of 130 operating from locations in
Falkirk and Huddersfield, of which 72 have been made redundant.

The administrators continue to trade from both locations while a
buyer is sought.

"RDW is a long-established company with a very strong
reputation.  We are very hopeful that the scaled down parts of
the business will be sold as a going concern and we have already
been in touch with a number of potential interested parties,"
Kenny Craig commented.

Headquartered in Falkirk, Scotland, Riley Dunn and Wilson Ltd.
-- http://www.rdw.co.uk/-- mainly binds periodicals and other  
reference material.  It was established in 1966.


ROYAL & SUN: Unveils Scrip Dividend Scheme for Ordinary Shares
--------------------------------------------------------------
Royal & Sun Alliance Insurance Group plc offers shareholders the
opportunity to take new ordinary shares, credited as fully paid,
in lieu of cash dividends, by participating in a Scrip
Dividend Scheme.

In relation to the final dividend for 2006, the price of a new
ordinary share under the Scrip Dividend Scheme has been set at
161.53 pence.  This is the average of the Company's middle
market closing price for the five consecutive dealing days
commencing on the ex-dividend date of March 14.

Shareholders wishing to participate in the Scrip Dividend Scheme
should contact Lloyds TSB Registrars and return their mandate
forms to Lloyds TSB Registrars to arrive no later than May 9.

Lloyds TSB Registrars can be reached at 0870 600 3988 or +44 121
415 7064 if calling from overseas.

Headquartered in London, England, Royal & Sun Alliance Insurance
Group PLC -- http://www.royalsunalliance.com/-- is a FTSE 100  
company, listed on the London Stock Exchange and in New York.
The group consists of three regions -- U.K., Scandinavia and
International -- with operations in 30 countries, providing
general insurance products to over 20 million customers
worldwide.  In Latin America, it operates in Brazil, Chile,
Colombia, Mexico, Uruguay, and Venezuela.  In Asia, the company
operates in Hong Kong, Singapore and Saudi Arabia.

                        *     *     *

As of Feb. 22, Royal & Sun Alliance Insurance Group PLC carries
Moody's Ba1 preferred stock rating.


SCANNER DRUM: Joint Liquidators Take Over Operations
----------------------------------------------------
Peter Robin Bacon and Carl Derek Faulds of Portland Business &
Financial Solutions Ltd. were appointed joint liquidators of
Scanner Drum Service (U.K.) Ltd. (formerly Guidetrail Ltd.) on
March 7 for the creditors' voluntary winding-up proceeding.

The company can be reached at:

         Scanner Drum Service (U.K.) Ltd.
         S D S House
         9 Lyon Road
         Merton
         London
         SW19 2RL
         England
         Tel: 020 8543 9922
         Fax: 020 8543 5115


SMART CARD: Taps Andrew McTear to Liquidate Assets
--------------------------------------------------
Andrew McTear of McTear Williams & Wood was appointed liquidator
of Smart Card Solutions Ltd. (formerly M&R 767 Ltd.) on March 14
for the creditors' voluntary winding-up proceeding.

The company can be reached at:

         Smart Card Solutions Ltd.
         Fairfield House
         Albert Road
         Stow Cum Guy
         Cambridge
         Cambridgeshire
         CB5 9AH
         England
         Tel: 01223 716 223


SOLO SERVICES: Creditors' Meeting Slated for March 29
-----------------------------------------------------
Creditors of Solo Services (Northern) Ltd. will meet at 10:15
a.m. on March 29 at:
  
         BWC Business Solutions
         8 Park Place  
         Leeds  
         LS1 2RU
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge between 10:00 a.m. and  
4:00 p.m. on March 27.


STADEX INDUSTRIES: Brings In Administrators from KPMG
-----------------------------------------------------
Paul Flint and Brian Green from KPMG Restructuring were
appointed administrators of Stadex Industries Ltd.

The company operates across four divisions - the firm's Foam
Fabrics divisions produce latex foam and fabric products
primarily for the shoe industry, in addition to producing its
own line of insole products.  The firm's Chemicals divisions
focus on the manufacture of film-dried modified starch products
and water-based adhesives.

"We have already received considerable interest in this long-
established business, and so are continuing it as a going
concern while the possibility of a trade sale is explored," Paul
Flint disclosed.

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

Headquartered in Wrexham, Wales, Stadex Industries Ltd. --
http://www.stadex.co.uk/-- manufactures adhesive, starch and  
foam fabric products.  The firm, which was established in 1931,
has a turnover of around GBP8 million and employs 75 people.


STARFISH CHILDRENS: Creditors' Meeting Slated for April 11
----------------------------------------------------------
Creditors of Starfish Childrens Day Nursery Ltd. will meet at  
2:30 p.m. on April 11 at:
  
         Saud & Company
         105-111 Euston Street
         London  
         NW1 2EW
         England

Creditors are required as soon as possible to send in their
names, their addresses and descriptions, full particulars of
their debts or claims to S. Saud of Saud & Company.
  
A list of names and addresses of the company's creditors will be
available for inspection free of charge on April 9.


SWIFT CONSTRUCTION: Appoints Liquidator from Cooper Young
---------------------------------------------------------
Zafar Iqbal of Cooper Young was appointed liquidator of Swift
Construction Ltd. on March 14 for the creditors' voluntary
winding-up procedure.

The company can be reached at:

         Swift Construction Ltd.
         155 Wingletye Lane
         Hornchurch
         Essex
         RM11 3AR
         England
         Tel: 01708 505 290


TALISMAN-6 FINANCE: S&P Rates EUR15.5-Mln Class F Notes at BB
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary
credit ratings to the commercial mortgage-backed floating-rate
notes to be issued by Talisman-6 Finance PLC, an SPE
incorporated in Ireland with limited liability.
  
At closing, Talisman-6 will use the note issuance proceeds to
acquire a portfolio of nine commercial real estate loans
originated by the London branch of ABN AMRO Bank N.V.  The loans
are secured by 257 commercial properties and 18 multi-family
complexes with 4,731 residential units, 129 commercial units and
1,041 parking spaces located across Germany.
  
In terms of the transaction structure, Talisman-6 incorporates
the main aspects of Talisman 1 Finance PLC, Talisman-3 Finance
PLC, and Talisman-4 Finance PLC.

                           Ratings List
  
Talisman-6 Finance PLC
   EUR1,076.32 Million Commercial Mortgage-Backed Floating-Rate
   Notes
  
                          Prelim.        Prelim. Amount
           Class          rating           (Mln. EUR)
           -----          ------            --------
           A              AAA                825.00
           X              AAA                  0.05
           B              AA                  80.00
           C              A                   83.30
           D              BBB                 60.00
           E              BBB-                12.50
           F              BB                  15.50


TRIDENT WINDOWS: Claims Filing Period Ends June 16
--------------------------------------------------
Creditors of Trident Windows & Conservatories Ltd. have until  
June 16 to send in their names and addresses and particulars of
their debts or claims, and of any security held by them, and the
names and addresses of their solicitors (if any), to:

         Alan Keith Thornton
         Bulley Davey
         Liquidator
         69-75 Lincoln Road
         Peterborough  
         PE1 2SQ
         England

Alan Keith Thornton of Bulley Davey was appointed liquidator of
the company on March 12.


TRIO PLUS: Joint Liquidators Take Over Operations
-------------------------------------------------
Peter Robin Bacon and Carl Derek Faulds of Portland Business &
Financial Solutions Ltd. were appointed liquidators of Trio Plus
(U.K.) Ltd. (formerly Howden Enterprises Ltd. and SCS Scanning
Cylinder Services) on March 7 for the creditors' voluntary
winding-up proceeding.

The company can be reached at:

         Trio Plus (U.K.) Ltd.
         S D S House
         9 Lyon Road
         Merton
         London
         SW19 2RL
         England
         Tel: 020 8543 8660
         Fax: 020 8543 5115


WARD LONGWORTH: Creditors' Meeting Slated for April 10
------------------------------------------------------
Creditors of Ward Longworth Camponi Ltd. will meet at noon on
April 10 at:
  
         Crowne Plaza
         Wellington Street
         Leeds
         West Yorkshire  
         LS1 4DL
         England

A list of names and addresses of the company's creditors will be
available for inspection free of charge on April 6 at the
offices of:  

         CBA
         39 Castle Street
         Leicester  
         LE1 5WN       
         England


* BOND PRICING: For the Week March 19 to March 23, 2007
-------------------------------------------------------

Issuer                    Coupon   Maturity   Currency   Price     
------                    ------   --------   --------   -----

AUSTRIA
-------
Kommunal Kredit
  Austria AG              0.500    03/15/19     CDN      64.05
                          0.250    10/14/26     CDN      37.77
Republic of Austria       7.000    10/10/25     EUR      69.41
                          8.000    10/24/35     EUR      68.38
                          7.000    08/04/25     EUR      70.21
                          

DENMARK
-------
Kommunekredit             0.500    05/11/29     CDN      40.84

FINLAND
-------
Muni Finance PLC          0.250    06/28/40     CDN      19.58
                          0.500    09/24/20     CDN      59.92
                          1.000    11/21/16     NZD      59.00
                          0.500    04/26/13     AUD      71.57
                          1.000    03/19/13     AUD      73.43

FRANCE
------
Accor S.A.                1.750    01/01/08     EUR      67.61
Alcatel S.A.              4.750    01/01/11     EUR      16.79
Alstom S.A.               2.000    12/31/08     EUR       2.83
Altran Technologies S.A.  3.750    01/01/09     EUR      12.41
Ausy                      4.000    03/15/10     EUR      14.40
AXA S.A.                  6.000    01/29/49     EUR      70.93
BNP Paribas               0.250    12/20/14     US$      68.86
CAP Gemini S.A.           2.500    01/01/10     EUR      60.60
                          1.000    01/01/12     EUR      58.82
Club Mediterranee S.A.    3.000    11/01/08     EUR      65.84
                          4.375    11/01/10     EUR      50.36
Elior S.A.                1.000    06/08/07     EUR      19.88
Guilleot Corp.            4.500    08/31/07     EUR      72.60
Havas S.A.                4.000    01/01/09     EUR      10.74
Infogrames
   Entertainment S.A.     4.000    04/01/09     EUR       6.68
                          1.500    07/01/11     EUR      23.49
Ingenico                  2.750    01/01/12     EUR      19.75
LVL Medical Group         2.500    10/01/10     EUR      45.50
                          4.500    10/01/09     EUR      68.00
Maurel & Prom             3.500    01/01/10     EUR      22.35
Publicis Group            0.750    07/17/08     EUR      36.92
                          1.000    01/18/18     EUR      44.47
Rallye                    3.750    01/01/08     EUR      52.37
Scor S.A.                 4.125    01/01/10     EUR       2.38
Soc Air France            2.750    04/01/20     EUR      36.30
Soitec                    4.625    12/20/09     EUR      17.83
Solving Int'l S.A.        5.500    01/01/12     EUR      10.10
Thomson (EX-TMM)          1.000    01/01/08     EUR      39.10
Valeo                     2.375    01/01/11     EUR      49.87
Vivendi Universal S.A.    1.750    10/30/08     EUR      32.88
Wendel Invest S.A.        2.000    06/19/09     EUR      57.89

GERMANY
-------
Allgemeine
   HypothekenBank
   Rheinboden AG          8.625    12/31/07     DEM      18.03
                          7.000    12/31/10     EUR      35.00
                          5.125    12/31/10     DEM      40.00
                          7.000    12/31/10     EUR      40.00
                          7.250    12/31/10     DEM      45.00
                          7.300    12/31/10     EUR      35.00
                          7.250    12/31/11     EUR      62.00
Commerzbank AG           19.000    04/20/07     EUR      37.82
Deutsche Bank AG         12.000    05/08/07     EUR      71.23
                         19.000    05/08/07     EUR      33.40
                          7.000    10/13/35     EUR      68.94
KfW Bankengruppe          0.500    10/30/13     AUD      67.68
                          0.500    12/19/17     EUR      69.54
                          7.000    07/07/20     EUR      74.09
                          7.500    07/29/20     EUR      74.50
                          7.000    07/21/25     EUR      71.31
                          7.000    09/01/25     EUR      73.63
                          8.000    08/10/30     EUR      70.21
                          8.000    10/17/35     EUR      49.00
Landeskreditbank Baden-
   Wuerttemberg Foerderbk 0.500    05/10/27     CDN      44.24
Metallbank GmbH           8.000    09/30/08     DEM       0.25
Schefenacker AG           9.500    02/11/14     EUR       6.11
VBH Holding AG            2.500    12/31/14     EUR       5.00
Wapme Systerms AG         5.250    11/05/07     EUR       1.00

ICELAND
-------
Kaupthing Bank            6.500    02/03/45     EUR      68.75

IRELAND
-------
Depfa ACS Bank            0.500    03/03/25     CDN      52.04
                          0.250    07/08/33     CDN      26.61
Irish Perm Plc            6.125    02/15/35     EUR      70.63
Magnolia Finance IV Plc   1.050    12/20/45     US$      26.29

LUXEMBOURG
----------
Teksid Aluminum S.A.     12.375    07/15/11     EUR      61.45


NETHERLANDS
-----------
ABN Amro Bank N.V.        6.250    06/29/35     EUR      74.75
BK Ned Gemeenten          0.500    02/24/25     CDN      48.45
                          0.500    06/27/18     CDN      63.50
EM.TV Finance B.V.        5.250    05/08/13     EUR       5.91
Gerling Global
   Rentefonds             6.625    08/16/21     EUR      60.51
Lehman Bros TSY B.V.      8.250    03/16/35     EUR      69.00
                          7.250    10/05/35     EUR      71.63
Ned Waterschapbk          6.500    08/15/35     EUR      71.00
                          6.000    06/30/45     EUR      71.80
Nib Capital Bank N.V.     7.000    02/21/40     EUR      63.73
Parmalat Finance B.V.     5.500    03/30/09     EUR      27.98
Rabobank Groep N.V.       6.000    07/15/15     EUR      70.13
                          6.000    02/22/35     EUR      74.13
                          8.000    02/23/35     EUR      67.45
                          7.000    02/28/35     EUR      74.13
                          7.000    03/23/35     EUR      71.98
                         
NORWAY
------
Kommunalbanken A.S.       0.500    02/07/13     AUD      70.39

SWEDEN
------
AB Svensk Export          0.500    03/27/13     AUD      70.90

UNITED KINGDOM
--------------
Anglian Water
   Finance Plc            2.400    04/20/35     GBP      58.15
                          1.678    07/03/56     GBP      37.25
National Grid Gas Plc     1.771    03/30/37     GBP      50.15
                          1.754    10/17/36     GBP      50.12
Royal BK Scotland Plc     7.000    02/15/45     US$      72.73
                          7.000    06/09/25     EUR      72.78
                          7.000    06/29/30     EUR      65.81
                          0.250    03/27/14     US$      72.00
                          6.500    02/23/45     EUR      68.00
RSL Communications Plc   10.125    03/01/08     US$       7.00
UBS AG London             4.250    08/07/07     EUR       5.94
Wessex Water Finance Plc  1.369    07/31/57     GBP      33.96

  
                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices
are obtained by TCR editors from a variety of outside sources
during the prior week we think are reliable.  Those sources may
not, however, be complete or accurate.  The Monday Bond Pricing
table is compiled on the Friday prior to publication.  Prices
reported are not intended to reflect actual trades.  Prices for
actual trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy
or sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies
with insolvent balance sheets whose shares trade higher than
US$3 per share in public markets.  At first glance, this list
may look like the definitive compilation of stocks that are
ideal to sell short.  Don't be fooled.  Assets, for example,
reported at historical cost net of depreciation may understate
the true value of a firm's assets.  A company may establish
reserves on its balance sheet for liabilities that may never
materialize.  The prices at which equity securities trade in
public market are determined by more than a balance sheet
solvency test.

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

Each Friday's edition of the TCR includes a review about a book
of interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

                           *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter -- Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  Jazel P. Laureno, Julybien Atadero, Carmel Zamesa
Paderog, Joy Agravante, Zora Jayda Zerrudo Sala, Kristina A.
Godinez, and Pius Xerxes Tovilla, Editors.

Copyright 2007.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
prior written permission of the publishers.

Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.

The TCR Europe subscription rate is US$625 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are US$25 each. For subscription
information, contact Christopher Beard at 240/629-3300.


                 * * * End of Transmission * * *