TCREUR_Public/070424.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

             Tuesday, April 24, 2007, Vol. 8, No. 80

                            Headlines


A U S T R I A

INGENIEUR ALEXANDER: Vienna Court Orders Business Shutdown
JOHANN PRIVOZNIK: Claims Registration Period Ends May 17
MARTO INSTALLATION: Vienna Court Dismisses Estate Administrator
NOVAL MASSIVBAU: Claims Registration Period Ends May 8
PASCAL LLC: Vienna Court Orders Business Shutdown

SCHILLER LLC: Claims Registration Period Ends May 21
TZIANAS LLC: Claims Registration Period Ends May 11
W.B.T. WOHNBAU: Claims Registration Period Ends May 4


B U L G A R I A

LUKOIL BULGARIA: Petrol Holding Pays BGN1.1-Million Debt


D E N M A R K

TDC A/S: Tax Bill Effect to Reach DKK1.2 Billion


G E R M A N Y

ACN GESELLSCHAFT: Claims Registration Period Ends May 18
AUTOHAUS ELSNER: Claims Registration Period Ends May 25
BHS GERUESTBAU: Claims Registration Period Ends June 22
BOUTIQUE SCHMETTERLING: Claims Registration Period Ends May 15
BSVG BUERO: Claims Registration Period Ends June 4

DAIMLERCHRYSLER AG: UAW Talks with Tracinda but Prefers Magna
ELLUG GMBH: Claims Registration Period Ends May 15
ERNST SPIES: Claims Registration Period Ends May 15
GHR VERMOEGENSVERWALTUNGS: Claims Registration Ends May 25
GROSS UND SOEHNE: Creditors' Meeting Slated for May 7

GSK GMBH: Claims Registration Ends May 24
HTI GMBH: Claims Registration Ends May 15
ILMDOC HALLE: Claims Registration Ends May 31
KNOEFFEL BAU: Creditors Meeting Slated for June 4
LUPP GMBH: Creditors Must Register Claims by June 1

MAXBAU PLANUNGS: Creditors Must Register Claims by May 31
MEDORA GMBH: Creditors Must Register Claims by May 25
MRC SIMULATORENTECHNOLOGIE: Creditors Meeting Slated for May 21
MONTAGESERVICE JEHL: Claims Registration Ends June 15
NATURSTEINWERK BAWINKEL: Claims Registration Ends May 18

NEW ZEPPELIN: Claims Registration Ends May 15
NIEBECK GMBH: Creditors Must Register Claims by June 1
OBJEKTWERK GMBH: Claims Registration Ends June 8
SCHULTE-ALLAGEN GMBH: Claims Registration Period Ends May 12
SCHULZ & CZERNY: Claims Registration Period Ends May 11

SIGGELKOW COMPUTER: Claims Registration Period Ends June 2
SPRANZ SONNTAG: Claims Registration Period Ends May 31
TEBEX GMBH: Creditors' Meeting Slated for May 11
TRW AUTOMOTIVE: Completes Tender Offers of Outstanding Notes
VHB GMBH: Claims Registration Period Ends May 8

WBN AUTOMATENBETRIEBS: Claims Registration Period Ends May 29
WIDGET ONLINE: Claims Registration Period Ends May 26


I T A L Y

ALITALIA SPA: Three Groups Launch Final Bid for Italy's Stake
CLINICAL DATA: Dutch Unit Selling Division to Sclavo Diagnostics
CLINICAL DATA: Cogenics Division Partners with Epigenomics AG


K A Z A K H S T A N

ARYS TOLKYNDARY-1: Creditors Must File Claims by May 22
CRISTALL LA: Creditors' Claims Due May 25
INTERSTROYGROUP LLP: Proof of Claim Deadline Slated for May 25
INVEST PLUS: Claims Registration Ends May 25
MATAI MARKET: Claims Filing Period Ends May 25

NOVATOR LLP: Creditors' Claims Due May 22
NURBAI LLP: Creditors Must File Claims by May 22
SARY-BULAK-OIL LLP: Proof of Claim Deadline Slated for May 22
TDS & K: Claims Registration Ends May 25
TURAN OIL: Claims Filing Period Ends May 25


K Y R G Y Z S T A N

AREOPAG-DISTRIBUTION LLC: Claims Filing Period Ends June 2
NUR LLC: Creditors Must File Claims by June 2


N E T H E R L A N D S

CLINICAL DATA: Dutch Unit Selling Division to Sclavo Diagnostics


N O R W A Y

CLEAR CHANNEL: To Pay US$0.1875 Per Share Dividend


R U S S I A

AGATE CJSC: Asset Bidding Deadline Slated for May 2
ALTAY-COAL-RESOURSE: Creditors Must File Claims by May 31
ANGAR-STORY OJSC: Asset Bidding Deadline Slated for May 3
AZNAKAEVSKIY BAKERY: Bankruptcy Hearing Slated for Aug. 20
CORN-INVEST LLC: Creditors Must File Claims by May 31

KARBONA OJSC: Creditors Must File Claims by May 31
KORKINSKIY DIARY: Creditors Must File Claims by May 31
KRASNOSELSKAYA CJSC: Asset Bidding Deadline Slated for May 2
LUKOIL OAO: Bulgarian Unit Gets BGN1.1 Mil. From Petrol Holding
MAGADANSKIY LIQUEUR: Creditors Must File Claims by May 31

MAGNITOGORSK-TRANS-STROY: Asset Sale Slated for May 8
MAGNITOSTROY LLC: Creditors Must File Claims by May 1
MARIBERG OJSC: Creditors Must File Claims by May 31
NIKA-EXPORT LLC: Court Names S. Sakhnenko as Insolvency Manager
REGINA CJSC: Creditors Must File Claims by May 31

SEVERSTAL OAO: Fitch Affirms BB IDR with Positive Outlook
TULUNSKIY HYDROLYZE: Creditors Must File Claims by May 31
VIMPEL-COMMUNICATIONS: Earns US$811.5 Million for Full Year 2006
YUKOS OIL: Faces Environmental Violations in East Siberia


S P A I N

AFINSA BIENES: Court to Hear Chapter 15 Petition Tomorrow


S W I T Z E R L A N D

ABECO JSC: Creditors' Liquidation Claims Due May 7
BARRY CALLEBAUT: Moody's Assigns Loss-Given-Default Rating
DHB LLC: Creditors' Liquidation Claims Due May 7
GLOBOGAL IMMOBILIEN: Creditors' Liquidation Claims Due May 3
IFAO (SCHWEIZ): Creditors' Liquidation Claims Due May 7

MAKINA HOLDING: Creditors' Liquidation Claims Due May 3
MIMOBA JSC: Creditors' Liquidation Claims Due May 3
NOVA CASA: Graubunden Court Starts Bankruptcy Proceedings
ROBINSON RESEARCH: Zug Court Starts Bankruptcy Proceedings
ROCA COLORADA: Creditors' Liquidation Claims Due May 7

VOWI CONSULTING: Zug Court Starts Bankruptcy Proceedings


U K R A I N E

ARTEX LLC: Claims Registration Bar Date Set May 3
CHONGDAO LLC: Claims Registration Deadline Set May 3
CONCOUR-MM LLC: Claims Registration Bar Date Set May 3
DARDAN-1 LLC: Claims Registration Deadline Set May 2
DNIEPRO INVEST: Claims Registration Deadline Set May 3

IFV PLANT: Claims Registration Deadline Set April 28
KOLOS CJSC: Claims Registration Deadline Set May 2
REAL LLC: Claims Registration Bar Date Set May 3
SIGMA JSC: Claims Registration Deadline Set May 2


U N I T E D   K I N G D O M

ADVANCED MARKETING: Wants Exclusive Period Pushed Until Aug. 10
ADVANCED MARKETING: Asks Court to Fix Claims Bar Date to July 2
ALFRED MCALPINE: Independent Probe Confirms Systematic Fraud
ARMOR HOLDINGS: Bags US$345 Million Truck Order from U.S. Army
BRITISH AIRWAYS: Mulls Consortium Offer for Iberia

BRITISH AIRWAYS: Appoints Julia Simpson as Communications Head
CLEAR CHANNEL: Sells TV Stations to Providence for US$1.2 Bil.
CLEAR CHANNEL: Raised Bid Prompts S&P to Cut Credit Rating to B+
COLLINS & AIKMAN: Seeks Court Nod on PBGC Settlement Agreement
COLLINS & AIKMAN: Parties Oppose First Amended Plan Confirmation

COLLINS & AIKMAN: Plan Confirmation Hearing Adjourned to May 24
CONSTELLATION BRANDS: Joins Punch Taverns in Matthew Clark Deal
CONSTELLATION BRANDS: Names Patty Yahn-Urlaub as Vice President
DURA AUTOMOTIVE: Inks Technical Alliance with Indian Parts Maker
FOOT LOCKER: Offers to Buy Genesco for US$1.2 Billion in Cash

FOOT LOCKER: Moody's Reviews Ba1 Ratings Over Genesco Bid
ISLE OF CAPRI: Posts US$9.5 Mil. Net Loss in Qtr Ended Jan. 28
LYONDELL CHEMICAL: Fitch Puts B Rating on Sr. Subordinated Notes
MEGA BRANDS: Moody's Reviews Ratings on Weak 2006 Performance
RANK GROUP: Moody's Cuts Ratings on US$114.3-Million Notes to B2

SEA CONTAINERS: Court OKs Conyers Dill as Bermuda Counsel
SEA CONTAINERS: Services Committee Can Hire Pepper Hamilton
SOLUTIA INC: Court Approves 2007 Annual Incentive Program

* Large Companies with Insolvent Balance Sheets

                            *********

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


INGENIEUR ALEXANDER: Vienna Court Orders Business Shutdown
----------------------------------------------------------
The Trade Court of Vienna entered March 27 an order shutting
down the business of LLC Ingenieur Alexander Lugner (FN
236148b).

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

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on March 21 (Bankr. Case No 3 S 45/07y). Johannes Jaksch
represents Dr. Riel in the bankruptcy proceedings.


JOHANN PRIVOZNIK: Claims Registration Period Ends May 17
--------------------------------------------------------
Creditors owed money by LLC Johann Privoznik (FN 75456s) have
until May 17 to file written proofs of claim to court-appointed
estate administrator Nikolaus Vogt at:

         Mag. Nikolaus Vogt
         c/o Dr. Eva Riess
         Zeltgasse 3/13
         1080 Vienna
         Austria
         Tel: 02 57 01 33
         Fax: 402 57 01 57
         E-mail: nikolaus.vogt@riess.co.at
                 law@riess.co.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:00 a.m. on May 31 for the
examination of claims.


The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1701
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on March 27 (Bankr. Case No. 6 S 39/07p).  Eva Riess represents
Mag. Vogt in the bankruptcy proceedings.


MARTO INSTALLATION: Vienna Court Dismisses Estate Administrator
---------------------------------------------------------------
The Trade Court of Vienna declares the dismissal of Mag.
Sebastian Lesigang as estate administrator of LLC Marto
Installation (FN 158929w) on March 27.

The Court also approved the additional amount of EUR49,054.32
for distribution to creditors.

Headquartered in Vienna, Austria, the Debtor 's bankruptcy case
number is 3 S 186/01z.  


NOVAL MASSIVBAU: Claims Registration Period Ends May 8
------------------------------------------------------
Creditors owed money by LLC Noval Massivbau & Fertighaus (FN
264304h) have until May 8 to file written proofs of claim to
court-appointed estate administrator Peter Zens at:

         Dr. Peter Zens  
         Reichsratsstrasse 7
         1010 Vienna
         Austria
         Tel: 534 90
         Fax: 534 90 50
         E-mail: office@schopf-zens.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:50 on May 22 for the examination of
claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1609
         16th Floor
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on March 27 (Bankr. Case No. 38 S 15/07v).  


PASCAL LLC: Vienna Court Orders Business Shutdown
-------------------------------------------------
The Trade Court of Vienna entered March 27 an order shutting
down the business of LLC Pascal (FN 251529x).

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

The estate administrator can be reached at:

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

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on March 20 (Bankr. Case No 6 S 35/07z). Susi Pariasek
represents Mag. Holper in the bankruptcy proceedings.


SCHILLER LLC: Claims Registration Period Ends May 21
----------------------------------------------------
Creditors owed money by LLC Schiller (FN 34700f) have until May
21 to file written proofs of claim to court-appointed estate
administrator Wolfgang Winiwarter at:

         Dr. Wolfgang Winiwarter  
         Utzstrasse 9
         3500 Krems
         Tel: 02732/83234
         Fax: 02732/74153
         E-mail: office@winiwarter.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 8:30 a.m. on June 6 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Krems an der Donau
         Hall A
         Second Floor
         Krems an der Donau
         Austria

Headquartered in Mautern, Austria, the Debtor declared
bankruptcy on March 27 (Bankr. Case No. 9 S 15/07i).  


TZIANAS LLC: Claims Registration Period Ends May 11
---------------------------------------------------
Creditors owed money by LLC Tzianas (FN 162119k) have until May
11 to file written proofs of claim to court-appointed estate
administrator Michael Neuhauser at:

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

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:10 a.m. on May 25 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1607
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on March 27 (Bankr. Case No. 28 S 37/07f).  


W.B.T. WOHNBAU: Claims Registration Period Ends May 4
-----------------------------------------------------
Creditors owed money by LLC W.B.T. Wohnbau in Tirol (FN 126994g)
have until May 4 to file written proofs of claim to court-
appointed estate administrator Gunther Nagele at:

         Dr. Gunther Nagele  
         c/o Mag. Christian Pesl
         Suedtirolerplatz 8
         6020 Innsbruck
         Austria
         Tel: 0512/58 74 81
         Fax: 0512/580897
         E-mail: office@nagele-pesl.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 1:45 p.m. on May 22 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Innsbruck
         Conference Hall 114
         First Floor
         New Building
         Maximilianstrasse 4
         6020 Innsbruck
         Austria

Headquartered in Mils, Austria, the Debtor declared bankruptcy
on March 27 (Bankr. Case No. 19 S 27/07d).  Christian Pesl
represents Dr. Nagele in the bankruptcy proceedings.


===============
B U L G A R I A
===============


LUKOIL BULGARIA: Petrol Holding Pays BGN1.1-Million Debt
--------------------------------------------------------
Petrol Holding AD has paid its BGN1.1-million debt to Lukoil
Bulgaria, a unit of OAO Lukoil, Dnevnik reports.

Lukoil, however, said the payment does not cover accrued
interest, warning that it would collect the remaining amount in
court if not settled promptly, Dnevnik relates.

Lukoil has an existing BGN89.6-million claim suit against Petrol
Holding.  Lukoil alleged that the Bulgarian fuel group breached
a 2001 concession agreement by deliberately delaying payments.  
Petrol also filed a BGN84-million counterclaim against Lukoil
Bulgaria, arguing that the latter had also delayed payments,
Dnevnik relates.  Lukoil, however, denied Petrol's accusations.

The court will hear Lukoil's suit against Petrol on May 11,
Sofia Weekly relates.

                         About Lukoil

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

                         *     *     *

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


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


TDC A/S: Tax Bill Effect to Reach DKK1.2 Billion
------------------------------------------------
The preliminary calculations of TDC A/S show that the Danish
government's proposed tax bill will cost the company an
estimated annual amount of DKK700 million.  

On top of this, TDC's majority shareholder, NTC, will be
impacted by an estimated annual amount of DKK500 million.  The
total effect will thus be an estimated annual amount of DKK1.2
billion.

"We already have a huge challenge in maintaining our profit on a
market that does not grow, and where prices are constantly
declining.  And the tax bill certainly does not make things
easier," Jens Alder, TDC's President and CEO, said.

The calculations are based on TDC's current business plans for
2007, and assumes that the tax package will be adopted in
accordance with the Government's proposal dated April 18, 2007.  
The numbers are calculated on a full year basis and will be
somewhat lower in 2007 due to the enactment dates set out in the
proposal.

"Obviously, we will follow whatever legislation the politicians
decide to adopt, and the tax package will not change anything
with regard to our basic strategy and goals.  On the contrary it
now becomes even more clear and imminent that we will do as we
have said: Reduce our costs and become much more efficient,"
Mr. Alder said.

The reason why the total financial impact is bigger than the
impact for TDC alone is primarily that NTC has taken up
independent loans and therefore will be impacted further by the
limitations in the right to deduct interest payments.  NTC and
TDC are subject to joint taxation.

                         About TDC A/S

Headquartered in Copenhagen, Denmark, TDC A/S --
http://www.tdc.dk/-- through its subsidiaries and affiliates,  
provides communication solutions in Europe.  It provides
communication services in Denmark and Switzerland, and has a
significant presence in selected Northern and Central European
telecommunication markets.  It operates through five business
lines.

                        *     *     *

In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the existing non-financial speculative-grade
corporate issuers in Europe, Middle East and Africa last week,
the rating agency confirmed its Ba3 Corporate Family Rating for
TDC A/S.

Moody's also assigned a Ba3 Probability-Of-Default-rating to the
company.

The implementation of the LGD methodology in EMEA follows the
introduction of the methodology in September 2006.  Most of the
rating actions Moody's confirmed relate to senior secured loans.

* Issuer: TDC A/S

                                                      Projected
                            Old      New      LGD     Loss-Given
   Debt Issue               Rating   Rating   Rating  Default
   ----------               -------  -------  ------  ----------
   US$6-billion
   Sr. Unsecured
   Medium-Term
   Note Program             Ba3      B1       LGD5    81%

   DEM500-billion 5%
   Sr. Unsecured            Ba3      B1       LGD5    81%
   Regular Bond/
   Debenture Due 2008

   JPY3-billion 1.28%       
   Sr. Unsecured
   Regular Bond/
   Debenture Due 2008       Ba3      B1       LGD5    81%

   EUR350-million 5.625%
   Senior Unsecured
   Regular Bond/
   Debenture Due 2009       Ba3      B1       LGD5    81%

   EUR750-million 6.5%
   Senior Unsecured
   Regular Bond/
   Debenture Due 2012       Ba3      B1       LGD5    81%

   Senior Secured Bank      
   Credit Facility          Ba2      Ba2      LGD3    34%

* Issuer: Nordic Telephone Company Holdings ApS

                                                      Projected
                            Old      New      LGD     Loss-Given
   Debt Issue               Rating   Rating   Rating  Default
   ----------               -------  -------  ------  ----------
   Sr. Unsecured Floating   
   Rate Notes 2016          B2       B2       LGD6    92%

   8.875%/8.25% Senior      
   Unsecured Regular Bond/
   Debenture Due 2016       B2       B2       LGD6    92%

As reported in the TCR-Europe on April 4, Standard & Poor's
Ratings Services affirmed all its ratings on Danish telecoms
operator TDC A/S and its parent company Nordic Telephone Co.
Holding ApS, including the 'BB-/B' corporate credit ratings on
TDC.  S&P said the outlook is stable.

In January, Fitch Ratings said it does not expect the intended
sale by TDC A/S of its Lithuanian and Latvian mobile subsidiary
Bite to affect TDC's Issuer Default rating of 'BB-' or the
ratings of TDC and NTC Holdings.

* TDC's debt instruments:

   -- Senior secured bank facilities rated 'BB+'

   -- EMTN bonds rated 'BB-':

         -- DEM 5% notes due 2008
         -- JPY 1.28% notes due 2008
         -- EUR5.625% notes due 2009
         -- EUR6.5% notes due 2012

   -- NTC Holdings senior notes rated 'B+':

         -- EUR800-million 8.25% senior notes due 2016;
         -- US$600-million 8.875% senior notes due 2016;
         -- EUR750-million floating-rate notes due 2


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


ACN GESELLSCHAFT: Claims Registration Period Ends May 18
--------------------------------------------------------
Creditors of ACN Gesellschaft fuer internationale Hotel-,
Resort- und Tourismusentwicklung mbH have until May 18 to
register their claims with court-appointed insolvency manager
Karl-Heinz Trebing.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on June 28, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be contacted at:

         Karl-Heinz Trebing
         Hanauer Landstrasse 287 - 289
         60314 Frankfurt (Main)
         Germany

The District Court of Frankfurt (Main) opened bankruptcy
proceedings against ACN Gesellschaft fuer internationale Hotel-,
Resort- und Tourismusentwicklung mbH on April 5.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         ACN Gesellschaft fuer internationale
         Hotel-Resort- und Tourismusentwicklung mbH
         Attn: Dr. Paulus, Manager
         Trakehner Str. 7-9 b
         60487 Frankfurt (Main)
         Germany


AUTOHAUS ELSNER: Claims Registration Period Ends May 25
-------------------------------------------------------
Creditors of Autohaus Elsner GmbH have until May 25 to register
their claims with court-appointed insolvency manager Stefano
Buck.

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

The meeting of creditors will be held at:

         The District Court of Offenburg
         Hall 0005
         Kellergeschoss
         Hindenburgstr. 5
         77654 Offenburg
         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:

         Stefano Buck
         Eisenbahnstr. 19-23
         77855 Achern
         Germany

The District Court of Offenburg opened bankruptcy proceedings
against Autohaus Elsner GmbH on April 12.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Autohaus Elsner GmbH
         Attn: Peter Nock, Manager
         Schwarzwaldstr. 50
         77933 Lahr
         Germany


BHS GERUESTBAU: Claims Registration Period Ends June 22
-------------------------------------------------------
Creditors of BHS Geruestbau GmbH have until June 22 to register
their claims with court-appointed insolvency manager Peter
Houben.

Creditors and other interested parties are encouraged to attend
the meeting at 11:04 a.m. on June 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 Krefeld
         Meeting Hall H 131
         First Floor         
         Nordwall 131
         47798 Krefeld
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:32 a.m. on Aug. 24, at the same venue.

The insolvency manager can be contacted at:

         Peter Houben
         Sternstrasse 58
         40479 Duesseldorf
         Germany
         Tel: 0211/49 144-0
         Fax: +4902114914434

The District Court of Krefeld opened bankruptcy proceedings
against BHS Geruestbau GmbH on April 5.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         BHS Geruestbau GmbH
         Attn: Johannes Boos, Manager
         Schmacks Kirchweg 8
         41379 Brueggen
         Germany


BOUTIQUE SCHMETTERLING: Claims Registration Period Ends May 15
--------------------------------------------------------------
Creditors of Boutique Schmetterling GmbH have until May 15 to
register their claims with court-appointed insolvency manager
Siegfried Wolter.

Creditors and other interested parties are encouraged to attend
the meeting at 2:20 p.m. on June 5, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Oldenburg
         Hall 311
         Elisabethstrasse 6
         26135 Oldenburg
         Germany

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

The insolvency manager can be contacted at:

         Siegfried Wolter
         Nadorster Strasse 222
         26123 Oldenburg
         Germany
         Tel: 0441 27417
         Fax: 0441 25979
         E-mail: buero@wolter-kollegen.de    

The District Court of Oldenburg opened bankruptcy proceedings
against Boutique Schmetterling GmbH on April 10.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         Boutique Schmetterling GmbH
         Staustrasse 3/4
         26122 Oldenburg
         Germany

         Attn: Gholam Ali Shah-Hosseini, Manager
         Alter Kamp 9
         26135 Oldenburg
         Germany


BSVG BUERO: Claims Registration Period Ends June 4
--------------------------------------------------
Creditors of BSVG Buero Service u. Vermietungsgesellschaft mbH
have until June 4 to register their claims with court-appointed
insolvency manager Ruediger Werres.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on July 4, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Cologne
         Meeting Hall 1240
         12th Floor
         Luxemburger Strasse 101
         50939 Cologne
         Germany

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

The insolvency manager can be contacted at:

         Dr. Ruediger Werres
         Friesenplatz 17 a
         150672 Cologne
         Germany

The District Court of Cologne opened bankruptcy proceedings
against BSVG Buero Service u. Vermietungsgesellschaft mbH on
April 4.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be contacted at:

         BSVG Buero Service u. Vermietungsgesellschaft mbH
         Hansaring 61
         50670 Cologne
         Germany

         Attn: Hans-Theo Winter, Manager
         Drosselweg 14
         53909 Zuelpich
         Germany


DAIMLERCHRYSLER AG: UAW Talks with Tracinda but Prefers Magna
-------------------------------------------------------------
United Auto Workers members, who have proposed an employee-
stock-ownership plan for DaimlerChrysler AG's Chrysler Group,
met with representatives of billionaire investor Kirk
Kerkorian's Tracinda Corp., which has submitted a US$4.5 billion
bid for the U.S. unit, Gina Chon and John D. Stoll report for
The Wall Street Journal.

Concurrently, the DaimlerChrysler Employee Buyout Committee, a
group of members from UAW local 12 in Toledo, Ohio, has
expressed preference for Magna International Inc. as Chrysler's
buyer.  Both the UAW and the Canadian Auto Workers union have
expressed opposition to private equity ownership of the company
because of fears that such owners would eliminate long-standing
labor agreements, close plants and then flip the company once it
returned to profitability, Greg Keenan writes for the Globe and
Mail.

                        Union Proposal

The TCR-Europe reported on April 23 that workers at a Chrysler
plant in Toledo, Ohio, have written to DaimlerChrysler AG Chief
Executive Dieter Zetsche, suggesting employees could buy 70% of
Chrysler, possibly in exchange for cost concessions.

UAW President Ron Gettelfinger, who serves as an employee
representative on the company's supervisory board, plans to ask
the company's directors to keep Chrysler.

DaimlerChrysler's top leaders, including Chief Executive Dieter
Zetsche, will meet with labor groups, who plan to ask about the
company's strategic review of Chrysler and the status of talks
with three other groups, WSJ reveals.  Mr. Zetsche faces
pressure from shareholders who are concerned that Chrysler, with
its US$18-billion unfunded health-care liabilities and recent
operating losses, is pulling down the company's profitable
Mercedes-Benz luxury-car business.

Tracinda, in its proposal to DaimlerChrysler, said it would
consider giving the UAW a stake as part of a new capital
structure, WSJ relates.  The proposal would give the union
equity in return for giving up some future benefits.  This idea,
swapping the retirement health-care debts owed to UAW workers
for equity in their employers, is getting increasing attention
among Detroit union leaders.

The company is presently negotiating with all Chrysler bidders,
including Cerberus Capital Management LP; joint bidders
Blackstone Group and Centerbridge Capital Partners LP; and the
tandem of Magna International Inc. and Onex Corp., but has
ignored Tracinda Corp.

                      About DaimlerChrysler

Based in Stuttgart, Germany, DaimlerChrysler AG (NYSE:DCX) (FRA:
DCX) -- 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.


ELLUG GMBH: Claims Registration Period Ends May 15
--------------------------------------------------
Creditors of Ellug GmbH have until May 15 to register their
claims with court-appointed insolvency manager Sylvia Wille.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on June 26, 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 Chemnitz
         Hall 24
         Fuerstenstrasse 21-23
         09130 Chemnitz
         Germany

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

The insolvency manager can be contacted at:

         Sylvia Wille
         Nansenstrasse 7
         09116 Chemnitz
         Germany
         Tel: (03 71) 400 44 0
         Fax: (03 71) 400 44 10
         E-mail: Info@wir-chemnitz.de  

The District Court of Chemnitz opened bankruptcy proceedings
against Ellug GmbH on April 11.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         Ellug GmbH
         Attn: Sven Schmidt, Manager
         Waldstrasse 8
         09385 Lugau
         Germany


ERNST SPIES: Claims Registration Period Ends May 15
---------------------------------------------------
Creditors of Ernst Spies Service und Handelsgesellschaft mbH
fuer Haustechnik have until May 15 to register their claims with
court-appointed insolvency manager Carsten Koch.

Creditors and other interested parties are encouraged to attend
the meeting at 2:00 p.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 Siegen
         Hall 009
         Ground Floor
         Main Building
         Berliner Str. 21-22
         57072 Siegen
         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:

         Carsten Koch
         Mauerstr. 1
         35781 Weilburg
         Germany
         Tel: 06471/516630
         Fax: 06471/516639

The District Court of Siegen opened bankruptcy proceedings
against Ernst Spies Service und Handelsgesellschaft mbH fuer
Haustechnik on April 10.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be contacted at:

         Ernst Spies Service und Handelsgesellschaft
         mbH fuer Haustechnik
         Grube Neue Haardt 6
         57076 Siegen
         Germany

         Attn: Thomas Hoffmann, Manager
         Brachhain 31
         57078 Siegen
         Germany


GHR VERMOEGENSVERWALTUNGS: Claims Registration Ends May 25
----------------------------------------------------------
Creditors of GHR Vermoegensverwaltungs GmbH have until May 25 to
register their claims with court-appointed insolvency manager
Tibor Daniel Braun.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on June 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Stuttgart
         Hall 178
         Hauffstr. 5 (Am Neckartor)
         70190 Stuttgart
         Germany

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

The insolvency manager can be contacted at:

         Dr. Tibor Daniel Braun
         Kriegerstr. 3
         70191 Stuttgart
         Germany
         Tel: 0711/22 55 830
         Fax: 0711/22 55 8320

The District Court of Stuttgart opened bankruptcy proceedings
against GHR Vermoegensverwaltungs GmbH on April 4.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         GHR Vermoegensverwaltungs GmbH
         Attn: Uwe Renchen, Manager
         Bachhalde 49-53
         70378 Stuttgart
         Germany


GROSS UND SOEHNE: Creditors' Meeting Slated for May 7
-----------------------------------------------------
The court-appointed insolvency manager for Gross und Soehne GmbH
Schlosserei und Maschinenbau, Dr. jur. Dieter Kuehn, will
present his first report on the Company's insolvency proceedings
at a creditors' meeting at 9:15 a.m. on May 7.

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 9:15 a.m. on June 18 at the same venue.

Creditors have until May 21 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Dr. jur. Dieter Kuehn
         Talstrasse 33
         66119 Saarbruecken
         Germany
         Tel: (0681) 51222
         Fax: (0681) 52152

The District Court of Saarbruecken opened bankruptcy proceedings
against Gross und Soehne GmbH Schlosserei und Maschinenbau on
Feb. 27.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Gross und Soehne GmbH Schlosserei und Maschinenbau
         Illinger Str. 57
         66265 Heusweiler
         Germany


GSK GMBH: Claims Registration Ends May 24
-----------------------------------------
Creditors of GSK GmbH Guxhagener Speditionskontor have until
May 24 to register their claims with court-appointed insolvency
manager Jutta Ruedlin.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on June 28, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Fritzlar
         Room 17
         Building A
         Schladenweg 1
         34560 Fritzlar         
         Germany

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

The insolvency manager can be reached at:

         Jutta Ruedlin
         Am Markt 4
         34212 Melsungen
         Germany
         Tel: 05661/926280
         Fax: 05661/9262820

The District Court of Fritzlar opened bankruptcy proceedings
against GSK GmbH Guxhagener Speditionskontor on April 11.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         GSK GmbH Guxhagener Speditionskontor
         Amselweg 3
         34302 Guxhagen
         Germany


HTI GMBH: Claims Registration Ends May 15
-----------------------------------------
Creditors of HTI GMBH have until May 15 to register their claims
with court-appointed insolvency manager Dr. Wolfgang Bilgery.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 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 Pforzheim
         Mannheimer Str. 17
         75179 Pforzheim
         Germany

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

The insolvency manager can be reached at:

         Dr. Wolfgang Bilgery
         Humboldtstr. 16
         70178 Stuttgart
         Germany

The District Court of Pforzheim opened bankruptcy proceedings
against HTI GMBH on April 5.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         HTI GmbH
         Attn: Dr. Herbert Rauber
         Liquidator
         Rastatter Str. 22
         75179 Pforzheim
         Germany


ILMDOC HALLE: Claims Registration Ends May 31
---------------------------------------------
Creditors of IlmDoc Halle Technische Dokumentation GmbH have
until May 31 to register their claims with court-appointed
insolvency manager Herbert Feigl.

Creditors and other interested parties are encouraged to attend
the meeting at 9:10 a.m. on June 28, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Halle-Saalkreis
         Hall 1.043
         Judicial Center
         Thueringer Str. 16
         06112 Halle
         Germany

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

The insolvency manager can be reached at:

         Herbert Feigl
         Hansering 1
         D 06108 Halle
         Germany
         Tel: 0345/212220
         Fax: 0345/2122222

The District Court of Halle-Saalkreis opened bankruptcy
proceedings against IlmDoc Halle Technische Dokumentation GmbH
on April 4.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         IlmDoc Halle Technische Dokumentation GmbH
         Eisenbahnstr. 3
         06132 Halle
         Germany


KNOEFFEL BAU: Creditors Meeting Slated for June 4
-------------------------------------------------
The court-appointed insolvency manager for Knoeffel Bau
Gesellschaft mbH, Christian Koehler-Ma, will present his first
report on the Company's insolvency proceedings at a creditors'
meeting at 9:40 a.m. on June 4.

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

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

The Court will also verify the claims set out in the insolvency
manager's report at 9:15 a.m. on Sept. 3 at the same venue.

Creditors have until July 5 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Christian Koehler-Ma
         Kurfuerstendamm 212
         10719 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Knoeffel Bau Gesellschaft mbH on April 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Knoeffel Bau Gesellschaft mbH
         Samoastr. 7
         13353 Berlin
         Germany


LUPP GMBH: Creditors Must Register Claims by June 1
---------------------------------------------------
Creditors of Lupp GmbH & Co KG have until June 1 to register
their claims with court-appointed insolvency manager
Guenter Trutnau.

Creditors and other interested parties are encouraged to attend
the meeting at 9: 40 a.m. on July 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 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:

         Dr. Guenter Trutnau
         III. Hagen 30
         45127 Essen
         Germany
         Tel: 0201-10953
         Fax: 0201-1095500

The District Court of Wuppertal opened bankruptcy proceedings
against Lupp GmbH & Co. KG on April 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Lupp GmbH & Co KG
         Metallwarenfabrik
         Nordstr. 9
         42551 Velbert
         Germany


MAXBAU PLANUNGS: Creditors Must Register Claims by May 31
---------------------------------------------------------
Creditors of MAXBAU Planungs- und Projektmanagementgesellschaft
mbH have until May 31 to register their claims with court-
appointed insolvency manager Manfred Vellmer.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on June 21, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

The insolvency manager can be reached at:

         Manfred Vellmer
         Rothenburg 20/21
         48143 Muenster
         Germany
         Tel: 0251/511801
         Fax: +492519277785
         Germany

The District Court of Muenster opened bankruptcy proceedings
against MAXBAU Planungs- und Projektmanagementgesellschaft mbH
on April 4.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         MAXBAU Planungs- und Projektmanagementgesellschaft mbH
         Von-Esmarch-Strasse 121
         48149 Muenster
         Germany


MEDORA GMBH: Creditors Must Register Claims by May 25
-----------------------------------------------------
Creditors of Medora GmbH have until May 25 to register their
claims with court-appointed insolvency manager Peter Neu.

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

         Peter Neu
         Elberfelder Strasse 39
         42853 Remscheid
         Germany
         Tel: 02191/499 18-0
         Fax: 02191/499 18-50

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

The Debtor can be reached at:

         Medora GmbH
         Theodor-Heuss-Platz 8
         42853 Remscheid
         Germany


MRC SIMULATORENTECHNOLOGIE: Creditors Meeting Slated for May 21
---------------------------------------------------------------
The court-appointed insolvency manager for MRC
Simulatorentechnologie GmbH, Ruediger Wienberg, will present his
first report on the Company's insolvency proceedings at a
creditors' meeting at 11:05 a.m. on May 21.

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

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

The Court will also verify the claims set out in the insolvency
manager's report at 10:05 a.m. on July 23 at the same venue.

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

The insolvency manager can be reached at:

         Ruediger Wienberg
         Giesebrechtstr. 1
         10629 Berlin
         Germany

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

The Debtor can be reached at:

         MRC Simulatorentechnologie GmbH
         Brunsbuettler Damm 448
         13591 Berlin
         Germany


MONTAGESERVICE JEHL: Claims Registration Ends June 15
-----------------------------------------------------
Creditors of Montageservice Jehl GmbH have until June 15 to
register their claims with court-appointed insolvency manager
Jochen Wagner.

Creditors and other interested parties are encouraged to attend
the meeting at 1:00 p.m. on July 2, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Amberg
         Room 115
         Meeting Hall V
         First Stock
         Baustadelgasse 1
         Amberg
         Germany

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

The insolvency manager can be reached at:

         Jochen Wagner
         Salzgasse 2
         92224 Amberg
         Germany
         Tel: 09621/607 330
         Fax: 09621/607 33-10

The District Court of Amberg opened bankruptcy proceedings
against Montageservice Jehl GmbH on April 4.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Montageservice Jehl GmbH
         Stauffenbergstr. 4 a
         93133 Burglengenfeld
         Germany


NATURSTEINWERK BAWINKEL: Claims Registration Ends May 18
--------------------------------------------------------
Creditors of Natursteinwerk Bawinkel GmbH have until May 18 to
register their claims with court-appointed insolvency manager
Clemens Sandhaus.

Creditors and other interested parties are encouraged to attend
the meeting at 2:10 p.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 Lingen (Ems)
         Hall Z 17
         New Building
         Burgstrasse 28
         49808 Lingen (Ems)
         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:

         Clemens Sandhaus
         Alter Pferdemarkt 2
         49808 Lingen (Ems)
         Germany
         Tel: 0591/80037-65
         Fax: 0591/80037-11

The District Court of Lingen (Ems) opened bankruptcy proceedings
against Natursteinwerk Bawinkel GmbH on April 12.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Natursteinwerk Bawinkel GmbH
         Gewerbegebiet 1-3
         49844 Bawinkel
         Germany


NEW ZEPPELIN: Claims Registration Ends May 15
---------------------------------------------
Creditors of New Zeppelin Winsen GmbH & Co. KG have until May 15
to register their claims with court-appointed insolvency manager
Karl-Joachim Meyer.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 a.m. on June 5, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Lueneburg
         Hall 302
         Ochsenmarket 3
         21335 Lueneburg
         Germany

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

The insolvency manager can be reached at:

         Karl-Joachim Meyer
         Schiessgrabenstr. 8/9
         21335 Lueneburg
         Germany
         Tel: 20100
         Fax: 201014

The District Court of Lueneburg opened bankruptcy proceedings
against New Zeppelin Winsen GmbH & Co. KG on April 10.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         New Zeppelin Winsen GmbH & Co. KG
         Gutenbergstrasse 28-30
         21423 Winsen/Luhe
         Germany

         Attn: Christian Kostiuk, Manager
         Alvesener Schulweg 12
         21224 Rosengarten
         Germany


NIEBECK GMBH: Creditors Must Register Claims by June 1
------------------------------------------------------
Creditors of NieBeck GmbH have until June 1 to register their
claims with court-appointed insolvency manager Klaus Knetter.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on July 2, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Detmold
         Meeting Room 12
         Ground Floor
         Gerichtsstr. 6
         32756 Detmold
         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:

         Klaus Knetter
         Otto-Brenner-Str. 186
         33604 Bielefeld
         Germany

The District Court of Detmold opened bankruptcy proceedings
against NieBeck GmbH on April 3.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         NieBeck GmbH
         Herforder Str. 125
         32657 Lemgo
         Germany


OBJEKTWERK GMBH: Claims Registration Ends June 8
------------------------------------------------
Creditors of ObjektWerk GmbH have until June 8 to register their
claims with court-appointed insolvency manager Dr. Hubert
Ampferl.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on July 3, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:
   
         The District Court of Munich
         Meeting Hall 102
         Infanteriestr. 5
         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. Hubert Ampferl
         Nymphenburger Str. 20
         80335 Muenchen
         Germany
         Tel: 089/3090586-0
         Fax: 089/3090586-10

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

The Debtor can be reached at:

         ObjektWerk GmbH
         Goethe Ring 22
         85570 Markt Schwaben
         Germany


SCHULTE-ALLAGEN GMBH: Claims Registration Period Ends May 12
------------------------------------------------------------
Creditors of Schulte-Allagen GmbH have until May 12 to register
their claims with court-appointed insolvency manager Martin
Buchheister.

Creditors and other interested parties are encouraged to attend
the meeting at 10:45 a.m. on June 4, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of 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:

         Martin Buchheister
         Rathausplatz 21-23
         58507 Luedenscheid
         Germany

The District Court of Arnsberg opened bankruptcy proceedings
against Schulte-Allagen GmbH on April 5.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Schulte-Allagen GmbH
         Udenstrasse 33
         59581 Warstein
         Germany

         Attn: Ralf Schulte, Manager
         Dorfstrasse 50
         59581 Warstein
         Germany


SCHULZ & CZERNY: Claims Registration Period Ends May 11
-------------------------------------------------------
Creditors of Schulz & Czerny Financial Brokers GmbH have until
May 11 to register their claims with court-appointed insolvency
manager Biner Bahr.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on June 1, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:


         Dr. Biner Bahr
         Graf-Adolf-Platz 15
         40213 Duesseldorf
         Germany

The District Court of Duesseldorf opened bankruptcy proceedings
against Schulz & Czerny Financial Brokers GmbH on April 11.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Schulz & Czerny Financial Brokers GmbH
         Am Neumarkt 5
         41564 Kaarst
         Germany

         Attn: Ralf Schulz, Manager
         Ackerstrasse 125
         40233 Duesseldorf
         Germany


SIGGELKOW COMPUTER: Claims Registration Period Ends June 2
----------------------------------------------------------
Creditors of Siggelkow Computer GmbH have until June 2 to
register their claims with court-appointed insolvency manager
Jens-Soeren Schroeder.

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

The meeting of creditors will be held at:

         The District Court of 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:

         Jens-Soeren Schroeder
         Raboisen 38
         20095 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against Siggelkow Computer GmbH on April 5.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Siggelkow Computer GmbH
         Attn: Jens Siggelkow and Urlich Voss, Managers
         Tarpenring 13
         22419 Hamburg
         Germany


SPRANZ SONNTAG: Claims Registration Period Ends May 31
------------------------------------------------------
Creditors of Spranz Sonntag GmbH have until May 31 to register
their claims with court-appointed insolvency manager Michael
Pluta.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on June 28, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Michael Pluta
         c/o PLUTA Rechtsanwalts GmbH
         Karlstr. 33
         89073 Ulm
         Germany
         Tel: 0731-96880-0
         Fax: 0731-96880-50
         E-mail: ulm@pluta.net
         Web site: www.pluta.net

The District Court of Ulm opened bankruptcy proceedings against
Spranz Sonntag GmbH on April 10.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Spranz Sonntag GmbH
         Attn: Martin Spranz, Manager
         Bleicherstr. 46
         89597 Munderkingen
         Germany


TEBEX GMBH: Creditors' Meeting Slated for May 11  
------------------------------------------------
The court-appointed insolvency manager for Tebex GmbH, Ruediger
Wienberg, will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 8:45 a.m. on
May 11.

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 9:35 a.m. on Aug. 31 at the same venue.

Creditors have until July 3 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Ruediger Wienberg
         Giesebrechtstr. 1
         10629 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Tebex GmbH on April 11.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Tebex GmbH
         Neukoellnische Allee 160
         12057 Berlin
         Germany


TRW AUTOMOTIVE: Completes Tender Offers of Outstanding Notes
------------------------------------------------------------
TRW Automotive Holdings Corp., through its subsidiary TRW
Automotive Inc., disclosed the expiration of its cash tender
offers for its outstanding:

   -- US$825-million 9-3/8% Senior Notes due 2013,
   -- EUR130-million 10-1/8% Senior Notes due 2013,
   -- US$195-million 11% Senior Subordinated Notes due 2013, and
   -- EUR81-million 11-3/4% Senior Subordinated Notes due 2013.  

The tender offers expired at midnight, New York City time, on
April 18.
    
The settlement for Notes validly tendered and accepted for
payment between the Consent Date of March 23, and the Expiration
Date occurred on April 19, and was funded with cash on hand.
Through the tender offers, the company repurchased a total of:

   -- US$825,218,850 or 99.98% of the aggregate principal amount
      of the 9-3/8% Senior Notes;

   -- EUR121,123,000 or 93.17% of the aggregate principal amount
      of the 10-1/8% Senior Notes;

   -- US$192,909,000 or 98.93% of the aggregate principal amount
      of the 11% Senior Subordinated Notes; and

   -- EUR79,028,000 or 97.27% of the aggregate principal amount
      of the 11-3/4% Senior Subordinated Notes.
   
As a result of the Note tender transaction, the company expects
to incur related premiums and expenses of US$147 million in the
first quarter of 2007.
  
                       About TRW Automotive

Headquartered in Livonia, Michigan, TRW Automotive Holdings
Corp. (NYSE: TRW) -- http://www.trwauto.com/-- is an automotive  
supplier.  Through its subsidiaries, it employs approximately
63,800 people in 26 countries including Brazil, China, Germany,
Italy, among others.  TRW Automotive products include integrated  
vehicle control and driver assist systems, braking systems,
steering systems, suspension systems, occupant safety systems
(seat belts and airbags), electronics, engine components,
fastening systems and aftermarket replacement parts and
services.

                          *     *     *

Fitch assigned a 'BB' on TRW Automotive Holdings Corp.'s LT
Issuer Default rating and 'BB-' on its Unsecured Debt rating.  
The outlook is Stable.


VHB GMBH: Claims Registration Period Ends May 8
-----------------------------------------------
Creditors of VHB GmbH & Co. KG have until May 8 to register
their claims with court-appointed insolvency manager Andreas
Sontopski.

Creditors and other interested parties are encouraged to attend
the meeting at 10:50 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 Muenster
         Meeting Hall 13 B
         Gerichtsstr. 2-6
         48149 Muenster
         Germany
   
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

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

The District Court of Muenster opened bankruptcy proceedings
against VHB GmbH & Co. KG on April 3.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         VHB GmbH & Co. KG
         Oldenkottplatz 1
         48683 Ahaus
         Germany

         Attn: Franz Schaten, Manager
         Leuskesweg 44
         48619 Heek
         Germany


WBN AUTOMATENBETRIEBS: Claims Registration Period Ends May 29
-------------------------------------------------------------
Creditors of WBN Automatenbetriebs GmbH have until May 29 to
register their claims with court-appointed insolvency manager
Hendrik Rogge.

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

The meeting of creditors will be held at:

         The District Court of 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:

         Hendrik Rogge
         Albert-Einstein-Ring 15
         22761 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against WBN Automatenbetriebs GmbH on April 10.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         WBN Automatenbetriebs GmbH
         Attn: Astrid Wesselhoeft, Manager
         Osdorfer Landstr. 1
         22607 Hamburg
         Germany


WIDGET ONLINE: Claims Registration Period Ends May 26
-----------------------------------------------------
Creditors of Widget Online GmbH have until May 26 to register
their claims with court-appointed insolvency manager Rene
Bruckhoff.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 a.m. on June 26, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Cologne
         Meeting Hall 142
         First Floor
         Luxemburger Strasse 101
         50939 Cologne
         Germany
   
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Rene Bruckhoff
         Theodor-Heuss-Ring 19-21
         50668 Koeln
         Germany
         Tel: 0221/7716-234
         Fax: +497716177.


The District Court of Cologne opened bankruptcy proceedings
against Widget Online GmbH on April 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Widget Online GmbH
         Attn: Karl Heupel, Manager
         Maria-Montessori-Str. 20
         50259 Pulheim
         Germany


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


ALITALIA SPA: Three Groups Launch Final Bid for Italy's Stake
-------------------------------------------------------------
Three consortia eyeing the Italian government's 39.9% stake in
Alitalia S.p.A. have submitted non-binding offers as well as
business plans for the national carrier, Kristine Crane writes
for The Wall Street Journal.

The bidders, Ms. Crane says citing a statement by the Italian
Treasury, include:

   -- OAO Aeroflot and Unicredito Italiano S.p.A.;
   -- TPG Capital and MatlinPatterson Global Advisers; and
   -- AirOne S.p.A. and Intesa-San Paolo S.p.A.

The Treasury said the bidders could modify their bids and
business plans "given the preliminary nature" of their offers,
Ms. Crane adds.

The bidders had 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.  The government plans
to complete the sale in June.

In a TCR-Europe report on April 17, Transport Minister
Alessandro Bianchi told Dow Jones Newswires that the buyer for
Alitalia would have to spend around EUR3 billion to acquire and
return it to profitability.  Mr. Bianchi said Alitalia's buyer
would have to spend EUR1.5 billion for buying the carrier, and
another EUR1.5 billion to turn it around.

                         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.


CLINICAL DATA: Dutch Unit Selling Division to Sclavo Diagnostics
----------------------------------------------------------------
Vital Scientific N.V., a unit of Clinical Data Inc., signed an
OEM agreement with Sclavo Diagnostics International S.r.l. to
sell its line of automated clinical chemistry analyzers in
Europe, the Middle East and Africa, and to provide installation
and first line support services.

"We are very pleased to reach this multi-year agreement, and we
look forward to working closely with Sclavo Diagnostics to more
broadly distribute our technology throughout Europe, the Middle
East and Africa," Sakari Boman, Director of Sales and Business
Development for Vital Scientific, said.  "This partnership with
Sclavo Diagnostics follows clearly our strategy to further
strengthen our OEM businesses."

"Sclavo Diagnostics is pleased to bring the Sclavolab product
line to our international customers," Angelo Fracassi, Chairman
of D-Group S.p.A., said.  "This technology provides a new level
of automation to our customers and extends the value proposition
we offer to customers. This agreement allows Sclavo Diagnostics
to place Vital Scientific clinical chemistry systems into small-
to-medium hospital laboratories and in all private
laboratories."

                     About Sclavo Diagnostics

Sclavo Diagnostics is active in research, development,
production and marketing of in vitro clinical diagnostic
reagents kits in Clinical Chemistry, Specific and Urinary
Proteins, Serology, Immunology, Bacteriology and Molecular
Biology.

                        About Clinical Data

Headquartered in Newton, Massachusetts Clinical Data Inc.
(NASDAQ: CLDA) -- http://www.clda.com/-- provides comprehensive   
molecular and pharmacogenomics services as well as genetic
tests.  The Company has operations in the U.K., France, the
Netherlands, Italy and Australia.

                        Going Concern Doubt

Deloitte & Touche LLP expressed substantial doubt about Clinical
Data Inc.'s ability to continue as a going concern after
auditing the Company's financial statements for the fiscal year
ended March 31, 2006.  The auditing firm pointed to the
Company's accumulated deficit, negative cash flows from
operations and the expectation that the Company will continue to
incur losses in the future.


CLINICAL DATA: Cogenics Division Partners with Epigenomics AG
-------------------------------------------------------------
Clinical Data, Inc. and Epigenomics AG signed an agreement to
offer Epigenomics' proprietary DNA methylation services through
Clinical Data's service division, Cogenics.

Under this agreement, Cogenics will promote to its customers
Epigenomics' comprehensive portfolio of DNA methylation services
including genome-wide DNA methylation analysis, bisulfite
sequencing, and real-time PCR technologies, which are performed
in Epigenomics' laboratories in Germany.  Additionally, the
companies plan to offer regulated (GLP) DNA methylation analyses
in Cogenics' laboratories in the U.S.  

Under the agreement, Epigenomics will promote Cogenics'
comprehensive pharmacogenomics and molecular biology services to
its DNA methylation biomarker development partners and customers
that Epigenomics serves through its Clinical Solutions group.

"We are very pleased to enter into this partnership agreement
with Epigenomics and look forward to working closely with the
company," Robert Bondaryk, Ph.D., Senior Vice President and
General Manager of Cogenics, said.  "We are excited to offer
Cogenics customers Epigenomics' expertise and technology in DNA
methylation services.  This partnership brings unique value to
our customers by expanding our current biomarker offering to now
allow them to use DNA methylation as a marker of disease
diagnosis, prognosis and drug response prediction."

"This reference laboratory partnership with Cogenics enables us
to serve Cogenics' broad client base with our DNA methylation
services and biomarker development expertise," Christina
Dahlstroem, Ph.D., Senior Vice President of Epigenomics'
Clinical Solutions group, said.  "We are excited about the
prospect of eventually offering DNA methylation analysis in a
regulated environment through Cogenics.  This will be
particularly important once our pharma partners want to use the
biomarkers in clinical trials.  In addition, we are enthusiastic
about being able to offer our customers an even broader range of
biomarker services, in addition to DNA methylation, through this
partnership with Cogenics."

                        About Clinical Data

Headquartered in Newton, Massachusetts Clinical Data Inc.
(NASDAQ: CLDA) -- http://www.clda.com/-- provides comprehensive  
molecular and pharmacogenomics services as well as genetic
tests.  The Company has operations in the U.K., France, the
Netherlands, Italy and Australia.

                        Going Concern Doubt

Deloitte & Touche LLP expressed substantial doubt about Clinical
Data Inc.'s ability to continue as a going concern after
auditing the Company's financial statements for the fiscal year
ended March 31, 2006.  The auditing firm pointed to the
Company's accumulated deficit, negative cash flows from
operations and the expectation that the Company will continue to
incur losses in the future.


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


ARYS TOLKYNDARY-1: Creditors Must File Claims by May 22
-------------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region has declared LLP Arys Tolkyndary-1 insolvent.

Creditors have until May 22 to submit written proofs of claim
to:

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


CRISTALL LA: Creditors' Claims Due May 25
-----------------------------------------
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Cristall La insolvent.

Creditors have until May 25 to submit written proofs of claim
to:

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


INTERSTROYGROUP LLP: Proof of Claim Deadline Slated for May 25
--------------------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda has
declared LLP Interstroygroup insolvent.

Creditors have until May 25 to submit written proofs of claim
to:

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


INVEST PLUS: Claims Registration Ends May 25
--------------------------------------------
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Capital Stroy Invest Plus insolvent.

Creditors have until May 25 to submit written proofs of claim
to:

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


MATAI MARKET: Claims Filing Period Ends May 25
----------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda has
declared LLP Matai Market insolvent.

Creditors have until May 25 to submit written proofs of claim
to:

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


NOVATOR LLP: Creditors' Claims Due May 22
-----------------------------------------
The Specialized Inter-Regional Economic Court of Akmola has
declared LLP Trade House Novator insolvent on March 2.

Creditors have until May 22 to submit written proofs of claim
to:

         The Specialized Inter-Regional
         Economic Court of Akmola
         Room 228
         Auelbekov Str. 139a
         Kokshetau
         Akmola
         Kazakhstan
         Tel: 8 (3162) 25-79-32


NURBAI LLP: Creditors Must File Claims by May 22
------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty has
declared LLP Joint Enterprise Nurbai insolvent.

Creditors have until May 22 to submit written proofs of claim
to:

         The Specialized Inter-Regional
         Economic Court of Almaty
         Kaldayakov Str. 89-26
         Almaty
         Kazakshtan


SARY-BULAK-OIL LLP: Proof of Claim Deadline Slated for May 22
-------------------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region has declared LLP Sary-Bulak-Oil insolvent.

Creditors have until May 22 to submit written proofs of claim
to:

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


TDS & K: Claims Registration Ends May 25
----------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region has declared LLP TDS & K insolvent.

Creditors have until May 25 to submit written proofs of claim
to:

         The Specialized Inter-Regional
         Economic Court of South Kazakhstan Region
         Momysh-Uly Str. 27
         Shymkent
         South Kazakhstan
         Kazakshtan


TURAN OIL: Claims Filing Period Ends May 25
-------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region has declared LLP Turan Oil insolvent.

Creditors have until May 25 to submit written proofs of claim
to:

         The Specialized Inter-Regional
         Economic Court of South Kazakhstan Region
         Momysh-Uly Str. 27
         Shymkent
         South Kazakhstan
         Kazakshtan


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


AREOPAG-DISTRIBUTION LLC: Claims Filing Period Ends June 2
----------------------------------------------------------
LLC Areopag-Distribution has declared insolvency.  Creditors
have until June 2 to submit written proofs of claim to:

         LLC Areopag-Distribution
         L. Tolstoy Str. 2a
         Bishkek
         Kyrgyzstan


NUR LLC: Creditors Must File Claims by June 2
---------------------------------------------
LLC Scientific Engineering-Construction Enterprise Nur has
declared insolvency.  Creditors have until June 2 to submit
written proofs of claim to:

         LLC Nur
         L. Tolstoy Str. 17a-16
         Bishkek
         Kyrgyzstan


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


CLINICAL DATA: Dutch Unit Selling Division to Sclavo Diagnostics
----------------------------------------------------------------
Vital Scientific N.V., a unit of Clinical Data Inc., signed an
OEM agreement with Sclavo Diagnostics International S.r.l. to
sell its line of automated clinical chemistry analyzers in
Europe, the Middle East and Africa, and to provide installation
and first line support services.

"We are very pleased to reach this multi-year agreement, and we
look forward to working closely with Sclavo Diagnostics to more
broadly distribute our technology throughout Europe, the Middle
East and Africa," Sakari Boman, Director of Sales and Business
Development for Vital Scientific, said.  "This partnership with
Sclavo Diagnostics follows clearly our strategy to further
strengthen our OEM businesses."

"Sclavo Diagnostics is pleased to bring the Sclavolab product
line to our international customers," Angelo Fracassi, Chairman
of D-Group S.p.A., said.  "This technology provides a new level
of automation to our customers and extends the value proposition
we offer to customers. This agreement allows Sclavo Diagnostics
to place Vital Scientific clinical chemistry systems into small-
to-medium hospital laboratories and in all private
laboratories."

                     About Sclavo Diagnostics

Sclavo Diagnostics is active in research, development,
production and marketing of in vitro clinical diagnostic
reagents kits in Clinical Chemistry, Specific and Urinary
Proteins, Serology, Immunology, Bacteriology and Molecular
Biology.

                        About Clinical Data

Headquartered in Newton, Massachusetts Clinical Data Inc.
(NASDAQ: CLDA) -- http://www.clda.com/-- provides comprehensive   
molecular and pharmacogenomics services as well as genetic
tests.  The Company has operations in the U.K., France, the
Netherlands, Italy and Australia.

                        Going Concern Doubt

Deloitte & Touche LLP expressed substantial doubt about Clinical
Data Inc.'s ability to continue as a going concern after
auditing the Company's financial statements for the fiscal year
ended March 31, 2006.  The auditing firm pointed to the
Company's accumulated deficit, negative cash flows from
operations and the expectation that the Company will continue to
incur losses in the future.


===========
N O R W A Y
===========


CLEAR CHANNEL: To Pay US$0.1875 Per Share Dividend
--------------------------------------------------
Clear Channel Communications, Inc.'s Board of Directors has
declared a quarterly cash dividend of $0.1875 per share on its
Common Stock.  The dividend is payable on July 15, 2007, to
shareholders of record at the close of business on
June 30, 2007.

                 About Clear Channel Communications

Based in San Antonio, Texas, Clear Channel Communications Inc.
-- http://www.clearchannel.com/-- (NYSE:CCU) is a global leader  
in the out-of-home advertising industry with radio and
television stations and outdoor displays in various countries
around the world.  Aside from the U.S., the company operates in
11 countries -- Norway, Denmark, the United Kingdom, Singapore,
China, the Czech Republic, Switzerland, the Netherlands,
Australia, Mexico and New Zealand.

                          *     *     *

Clear Channel's long-term local and foreign issuer credits carry
Standard & Poor's BB+ rating.

In addition, the company's senior unsecured debt and long-term
issuer default ratings were placed by Fitch at BB- on
Nov. 16, 2006.


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


AGATE CJSC: Asset Bidding Deadline Slated for May 2
---------------------------------------------------
LLC Legal Office of Naumov and Borisov, the bidding organizer
for CJSC Agate, will open a public auction for the company's
properties at 11:00 a.m. on May 7 at:

         LLC Legal Office of Naumov and Borisov
         Bolshaya Kazachya Str. 23/27
         Saratov
         Russia

Interested participants have until May 2 to deposit an amount
equivalent to 10% of the starting price to:

         LLC Legal Office of Naumov and Borisov
         Settlement Account 40702810202000000301
         Correspondent Account 301018106000000000781
         BIK 046322781
         ACB Electronica (Saratovskiy)
         Saratov
         Russia

Bidding documents must be submitted to:

         LLC Legal Office of Naumov and Borisov
         Kazachya Str. 23/27
         Bolshaya
         Saratov
         Russia

The Debtor can be reached at:

         CJSC Agate
         Lenina Pr. 111
         Marks
         Saratov
         Russia


ALTAY-COAL-RESOURSE: Creditors Must File Claims by May 31
---------------------------------------------------------
Creditors of CJSC Altay-Coal-Resourse have until May 31 to
submit proofs of claim to:

         V. Gilev
         Temporary Insolvency Manager
         Post User Box 56
         2nd Post Office
         Gorno-Altaysk
         649002 Altay
         Russia

The Arbitration Court of Altay commenced bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
A02-84/2007.

The Court is located at:

         The Arbitration Court of Altay
         Lenina Pr. 76
         Barnaul
         656015 Altay  
         Russia

The Debtor can be reached at:

         V. Gilev
         Temporary Insolvency Manager
         Post User Box 56
         2nd Post Office
         Gorno-Altaysk
         649002 Altay
         Russia


ANGAR-STORY OJSC: Asset Bidding Deadline Slated for May 3
---------------------------------------------------------
LLC Yuta, the bidding organizer for OJSC Angar-Story, will open
a public auction for the company's properties at 3:00 p.m. on
May 7 at:

         OJSC Angar-Stroy
         Angarstroya Str. 8
         Osinovka
         Bratsk
         Irkutsk
         Russia

Interested participants have until May 3 to deposit an amount
equivalent to 10% of the starting price to:

         OJSC Angar-Stroy
         Settlement Account 40702810818090102312
         Correspondent Account 301018109000000000607
         BIK 042520607
         TIN 3805100028
         Baykalskiy bank SB RF
         Irkutsk
         Russia

Bidding documents must be submitted to:

         LLC Yuta
         Room 21
         Angarstroya Str. 8
         Bratsk
         Irkutsk
         Russia
         Tel: (39530) 35-77-14, 35-72-50

The Debtor can be reached at:

         OJSC Angar-Stroy
         Angarstroya Str. 8
         Osinovka
         Bratsk
         Irkutsk
         Russia


AZNAKAEVSKIY BAKERY: Bankruptcy Hearing Slated for Aug. 20
----------------------------------------------------------
The Arbitration Court of Tatarstan will convene at 1:00 p.m. on
Aug. 20 to hear the bankruptcy supervision procedure on OJSC
Aznakaevskiy Bakery.  The case is docketed under Case No.
A65-27057/2006-SG4-35.

The Temporary Insolvency Manager is:

         V. Lavrentyev
         Post User Box 802
         Kazan-111
         420111 Tatarstan
         Russia

The Court is located at:

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

The Debtor can be reached at:

         OJSC Aznakaevskiy Bakery
         Pushkina Str. 18
         Aznakaevo
         423300 Tatarstan
         Russia


CORN-INVEST LLC: Creditors Must File Claims by May 31
-----------------------------------------------------
Creditors of LLC Corn-Invest have until May 31 to submit proofs
of claim to:

         P. Klimenko
         Insolvency Manager
         Office 607
         Moskovskoye Shosse 137
         Orel
         Russia

The Arbitration Court of Orel commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A48-3673/06-20b.

The Court is located at:

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

The Debtor can be reached at:

         LLC Corn-Invest
         Kolkhoznaya Str. 11a
         Orel
         Russia


KARBONA OJSC: Creditors Must File Claims by May 31
--------------------------------------------------
Creditors of OJSC Karbona have until May 31 to submit proofs of
claim to:

         I. Shesterkin
         Insolvency Manager
         Post User Box 3690
         41005 Saratov
         Russia

The Arbitration Court of Saratov commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A57-384B/05-23.

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

The Debtor can be reached at:

         OJSC Karbona
         Zapadnaya Str. 1
         Krasnoarmeysk
         412800 Saratov
         Russia


KORKINSKIY DIARY: Creditors Must File Claims by May 31
------------------------------------------------------
Creditors of OJSC Korkinskiy Diary (TIN 7412003042, OGRN
1027400806707) have until May 31 to submit proofs of claim to:

         T. Vysotskaya
         Insolvency Manager
         Office 704
         Right Wing
         Rossiyskaya Str. 279
         454091 Chelyabinsk
         Russia

The Arbitration Court of Chelyabinsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A76-10751/2006-60-110.

The Court is located at:

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

The Debtor can be reached at:

         OJSC Korkinskiy Diary
         Pushkovo Str. 1
         Korkino
         456550 Chelyabinsk
         Russia


KRASNOSELSKAYA CJSC: Asset Bidding Deadline Slated for May 2
------------------------------------------------------------
LLC Audit-Ekaterinodar, the bidding organizer for CJSC
Agricultural Company Krasnoselskaya, will open a public auction
for the company's properties at 3:00 p.m. on May 11 at:

         LLC Audit-Ekaterinodar
         Office 10
         Stavropolskaya Str. 183/3
         Krasnodar
         Russia

The assets for sale are:

   -- Lot 1: Property complex for a RUR1,772,000 starting price.
   -- Lot 2: Some property for a RUR1,024,000 starting price.

Interested participants have until May 2 to deposit an amount
equivalent to 10% of the starting price to:

         OJSC Bank Moskvy (Krasnodarskiy)
         Krasnodar
         Russia
         Settlement Account 40702810200440003322
         Correspondent Account 301018103000000000978
         BIK 040349978
         TIN/KPP 2310106770/231001001
         OGRN 1027700159497

Bidding documents must be submitted to:

         LLC Audit-Ekaterinodar
         Office 10
         Stavropolskaya Str. 183/3
         Krasnodar
         Russia

The Debtor can be reached at:

         CJSC Agricultural Company Krasnoselskaya
         Timashevskiy
         Krasnodar
         Russia


LUKOIL OAO: Bulgarian Unit Gets BGN1.1 Mil. From Petrol Holding
---------------------------------------------------------------
Petrol Holding AD has paid its BGN1.1-million debt to Lukoil
Bulgaria, a unit of OAO Lukoil, Dnevnik reports.

Lukoil, however, said the payment does not cover accrued
interest, warning that it would collect the remaining amount in
court if not settled promptly, Dnevnik relates.

Lukoil has an existing BGN89.6-million claim suit against Petrol
Holding.  Lukoil alleged that the Bulgarian fuel group breached
a 2001 concession agreement by deliberately delaying payments.  
Petrol also filed a BGN84-million counterclaim against Lukoil
Bulgaria, arguing that the latter had also delayed payments,
Dnevnik relates.  Lukoil, however, denied Petrol's accusations.

The court will hear Lukoil's suit against Petrol on May 11,
Sofia Weekly relates.

                         About Lukoil

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

                         *     *     *

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


MAGADANSKIY LIQUEUR: Creditors Must File Claims by May 31
---------------------------------------------------------
Creditors of OJSC Magadanskiy Liqueur-Vodka Distillery (TIN
4909070404) have until May 31 to submit proofs of claim to:

         V. Belyakov
         Insolvency Manager
         Office 306
         Volochaevskaya Str. 181-B
         680038 Khabarovsk
         Russia

The Arbitration Court of Volgograd commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A73-2549/06-13B.

The Debtor can be reached at:

         OJSC Magadanskiy Liqueur-Vodka Distillery
         Dzerzhinskogo Str. 2
         685000 Magadan
         Russia


MAGNITOGORSK-TRANS-STROY: Asset Sale Slated for May 8
-----------------------------------------------------
The insolvency manager and bidding organizer for Magnitogoskoye
Ojsc Magnitogorsk-Trans-Story will open a public auction for the
company's properties at noon on May 8 at:

         Office 401
         Sportivnaya Str. 30
         443030 Samara
         Russia

Interested participants have until May 4 to deposit an amount
equivalent to 20% of the starting price to:

         Magnitogoskoye OJSC Magnitogorsk-Trans-Story
         Settlement Account 40702810111400004216
         Correspondent Account 301018105000000000802
         BIK 047501802
         Pravoberezhnyj ChF OJSC URSABank
         Chelyabinsk
         Russia

Bidding documents must be submitted to:

         Magnitogoskoye OJSC Magnitogorsk-Trans-Story
         Moskovskaya Str. 22
         455039 Magnitogorsk
         Russia

The Debtor can be reached at:

         Magnitogoskoye OJSC Magnitogorsk-Trans-Story
         Moskovskaya Str. 22
         455039 Magnitogorsk
         Russia


MAGNITOSTROY LLC: Creditors Must File Claims by May 1
-----------------------------------------------------
Creditors of LLC House Building Enterprise Magnitostroy (TIN
7444041435) have until May 1 to submit proofs of claim to:

         I. Sushkova
         Temporary Insolvency Manager
         Gagarina Str. 56
         Magnitogorsk
         455017 Chelyabinsk
         Russia

The Arbitration Court of Chelyabinsk commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. A76-1100/2007-60-30.

The Court is located at:

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

The Debtor can be reached at:

         LLC House Building Enterprise Magnitostroy
         Gagarina Str. 56
         Magnitogorsk
         455017 Chelyabinsk
         Russia


MARIBERG OJSC: Creditors Must File Claims by May 31
---------------------------------------------------
Creditors of OJSC Kozmodemyanskiy Bakery Mariberg have until
May 31 to submit proofs of claim to:

         V. Emelyanov
         Insolvency Manager
         Office 12
         Out House
         P. Lumumby Str. 8
         Cheboksary
         428022 Chuvashiya
         Russia

The Arbitration Court of Mariy El commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A-38-1932-19/243-2006.

The Court is located at:

         The Arbitration Court of Mariy El
         Lenina Pr. 40
         Yoshkar-Ola, Mariy El
         Russia

The Debtor can be reached at:

         OJSC Kozmodemyanskiy Bakery Mariberg
         Kozmodemyansk
         Mariy El
         Russia


NIKA-EXPORT LLC: Court Names S. Sakhnenko as Insolvency Manager
---------------------------------------------------------------
The Arbitration Court of Chita appointed S. Sakhnenko as
Insolvency Manager for LLC Zabaykalskaya Timber Company Nika-
Export.  He can be reached at:

         S. Sakhnenko
         Post User Box 891
         Central Post Office
         672000 Chita
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A78-729/2007-B-36.

The Debtor can be reached at:

         LLC Zabaykalskaya Timber Company Nika-Export
         Babushkina Str. 111
         Chita
         Russia


REGINA CJSC: Creditors Must File Claims by May 31
-------------------------------------------------
Creditors of CJSC Regina have until May 31 to submit proofs of
claim to:

         V. Gilev
         Temporary Insolvency Manager
         Post User Box 56
         2nd Post Office
         Gorno-Altaysk
         649002 Altay
         Russia

The Arbitration Court of Altay commenced bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
A02-2733/2001

The Court is located at:

         The Arbitration Court of Altay
         Lenina Pr. 76
         Barnaul
         656015 Altay  
         Russia

The Debtor can be reached at:

         V. Gilev
         Temporary Insolvency Manager
         Post User Box 56
         2nd Post Office
         Gorno-Altaysk
         649002 Altay
         Russia


SEVERSTAL OAO: Fitch Affirms BB IDR with Positive Outlook
---------------------------------------------------------
Fitch Ratings revised the Outlooks on OAO Severstal's Issuer
Default and National Long-term ratings to Positive from Stable.

In addition, Fitch has affirmed Severstal's ratings at Issuer
Default 'BB-', senior unsecured 'BB-', Short-term 'B' and
National Long-term 'A+'.

The Positive Outlook reflects Severstal's corporate governance
improvements that were undertaken in view of its IPO in November
2006 and Fitch's expectations that the company will continue to
adhere to best international practice.  Severstal appointed an
independent Chairman of the Board of Directors, changed the
Board's composition and established board committees.  However,
as these initiatives were only recently implemented, it remains
to be seen how steadfastly the company will adhere to the new
practices.

The ratings are underpinned by Severstal's strong financial
profile, diversified product portfolio and geography of sales as
well as a high degree of vertical integration.  The company is
favorably positioned compared with its international peers,
based on its FY06 EBITDAR margin of 23.5% and FY06 leverage of
0.4x.  Severstal has a track record of a prudent financial
policy that is reflected in its sound credit metrics.  Although
the company does not exclude future acquisitions to support its
growth strategy, it plans to adhere to a disciplined and prudent
approach to M&A.

Severstal has successfully consolidated its acquired
international assets, namely Severstal North America (formerly
Rouge Steel) and Lucchini.  Both divisions demonstrated an
increase in profitability in 2006 following the implementation
of cost-cutting initiatives and operational efficiency programs.  
Fitch believes that foreign acquisitions enable the company to
gain a footprint in the international markets, expand its
customer base, diversify its portfolio and gain access to new
technologies.

Fitch notes that Severstal stands out among its Russian peers
based on its product portfolio diversification.  The company
focuses on high value-added and niche products, the share of
which totaled 52% of its revenues in FY06.

However, Fitch is concerned about Severstal's involvement in
significant related-party transactions.  In addition, rising
input costs, including energy prices and labor costs, continue
to pressure the company's margins.  Nonetheless, Severstal's
current high profitability provides certain flexibility and
cushion against such cost pressures. Like other steel producers,
Severstal is exposed to the cyclicality of the steel industry.

Severstal is the largest vertically integrated steel producer in
Russia by volume.  Its crude steel production totaled 17.6
million tons in 2006.  It has recently expanded the geographic
scope of its operations to Europe and North America.  The
company's FY06 revenues reached US$12.4 billion.


TULUNSKIY HYDROLYZE: Creditors Must File Claims by May 31
---------------------------------------------------------
Creditors of OJSC Tulunskiy Hydrolyze Factory (TIN 3816000321)
have until May 31 to submit proofs of claim to:

         S. Galandin
         Insolvency Manager
         Office 403
         Dek. Sobytij Str. 125
         664007 Irkutsk
         Russia

The Arbitration Court of Irkutsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A19-22175/06-29.

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 Tulunskiy Hydrolyze Factory:
         Gidroliznaya Str. 1
         Tulun
         Irkutsk
         Russia


VIMPEL-COMMUNICATIONS: Earns US$811.5 Million for Full Year 2006
----------------------------------------------------------------
OJSC Vimpel-Communications posted a 31.9% year-on-year hike in
net profit to US$811.5 million on a 51.4% year-on-year increase
in net revenues to US$4.9 billion for the year ended Dec. 31,
2006, prepared according to U.S. GAAP.

The company also posted a 30.4% quarter-on-quarter rise in net
profit to US$198 million on a 6.8% quarter-on-quarter hike in
revenues to US$1.5 billion for the fourth quarter ended Dec. 31,
2006.

"2006 was another great year for VimpelCom," Alexander Izosimov,
Chief Executive Officer, said.  "The Company continued to show
strong revenue growth in excess of 50%, leading to almost US$5
billion in turnover.  We achieved a record OIBDA margin of
50.4%."

"During 2006, we successfully dealt with challenges in Russia
related to a more demanding competitive landscape and the
introduction of a 'calling party pays' regime," Mr.
Izosimovadded.  "We turned around the declining ARPU trend and
secured ARPU growth during the last three quarters.  It allowed
us to maintain high growth rates in revenue and OIBDA in 2006 in
spite of a greatly reduced influx of new subscribers.  We expect
our business in Russia to continue to expand primarily due to
the increased usage of our services as living standards improve
with the rapid growth of the Russian economy."

                       About VimpelCom

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

                        *     *     *

In a TCR-Europe report on April 16, in connection with Moody's
Investors Service's implementation of its new Probability-of-
Default and Loss-Given-Default rating methodology for the
corporate families in the Telecommunications, Media and
Technology sectors, the rating agency confirmed its Ba2
Corporate Family Rating for OJSC Vimpel-Communication.

Moody's also assigned a Ba2 Probability-of-Default rating to the
company.

                                                      Projected
                           Old POD  New POD  LGD      Loss-Given
   Debt Issue              Rating   Rating   Rating   Default
   ----------              -------  -------  ------   --------
   10% Senior Unsecured
   Regular Bond/Debenture
   Due 2009                Ba2      Ba2      LGD4     52%

   8.375% Senior Unsecured
   Regular Bond/Debenture
   Due 2011                Ba2      Ba2      LGD4     52%

   8% Senior Unsecured
   Regular Bond/Debenture
   Due 2010                Ba2      Ba2      LGD4     52%

   8.25% Senior Unsecured
   Regular Bond/Debenture
   Due 2016                Ba2      Ba2      LGD4     52%

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


YUKOS OIL: Faces Environmental Violations in East Siberia
---------------------------------------------------------
Rosprirodnadzor, Russia's mineral resources watchdog, named OAO
Yukos Oil Co. as the leading violator in East Siberia, after it
found that most of the bankrupt company's licenses in the region
failed to meet environmental standards, published reports say.

Vladimir Smolin, deputy head of Rosprirodnadzor, told RIA
Novosti that the agency would re-check the licenses of oil firms
operating in the region, including Yukos, starting next month.

The Ministry for Natural Resources, through Rosprirodnadzor,
found violations at 23 out of 52 sites in East Siberia, MosNews
relates.

"We will conduct new checks on 23 sites and revoke licenses if
the companies have failed to do anything," Mr. Smolin was quoted
by RIA Novosti as saying.

Yukos operates about 70 percent of proven reserves in the
region.  The company's East Siberian assets will be auctioned
under one lot on May 3 for a starting price of at least RUR166
billion.

However, the Russian government did not intend to withdraw
licensing from the future owner, AFX News reports citing Natural
Resources Minister Yuri Trutnev as saying.  Mr. Trutnev told
Itar-Tass that they "will grant more time [to the new owner] for
regulation of lapses," adding that all companies would be
treated equally, MosNews relates.

In an April 4 TCR-Europe report citing Interfax as its source,
the lot would consist of oil refineries, including Achinsk Oil
Refinery, oil production companies (Tomskneft), energy service,
research and development companies and other assets.

                         About Yukos Oil

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

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

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

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

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

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


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


AFINSA BIENES: Court to Hear Chapter 15 Petition Tomorrow
---------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
has set a hearing on April 25, 2007, to consider the petition
and the request of the Foreign Representatives for an order
granting recognition of Afinsa Bienes Tangibles SA's proceeding
pending in Madrid, Spain, as a foreign main proceeding.

The hearing will be held at Room 601 of the U.S. Bankruptcy
Court for the Southern District of New York, One Bowling Green
in New York.

Headquartered in Madrid, Spain, Afinsa Bienes Tangibles SA
-- http://www.afinsa.es/eng/-- is a wholesaler and retailer of  
stamps, coins, art works and other collectables.  The Debtor has
a pending proceeding in the Mercantile Court No. 6 in Madrid,
Spain.  On March 13, 2007, Javier Diaz Galvez, Benito Aguera
Marin, and Ana Fernandez Daza, as the Debtor's Foreign
Representatives, filed a chapter 15 petition (Bankr. S.D.N.Y.
Case No. 07-10675).  The Foreign Representatives are represented
by Thomas L. Kent, Esq., Anthony Princi, Esq., and Jennifer A.
Mo, Esq., at Paul, Hastings, Janofsky & Walker LLP.  When the
petitioners filed the chapter 15 petition, they estimated the
Debtor's assets and debts to be more than US$100 million.


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


ABECO JSC: Creditors' Liquidation Claims Due May 7
--------------------------------------------------
Creditors of JSC Abeco have until May 7 to submit their claims
to:

         Adolf Bachmann
         Liquidator
         Rutenenstrasse 78a
         6375 Beckenried NW
         Switzerland

The Debtor can be reached at:

         JSC Abeco
         Hergiswil NW
         Switzerland


BARRY CALLEBAUT: Moody's Assigns Loss-Given-Default Rating
----------------------------------------------------------
In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the corporate families in the Aerospace and
Defence, Automotive, Forest Products, Healthcare and
Pharmaceuticals, Metals and Mining, Natural Products Processor
and Consumer Products sectors last week, the rating agency
confirmed its Ba1 Corporate Family Rating for Barry Callebaut
AG.

Moody's also assigned a Ba2 Probability-of-Default rating to the
company.

Debt ratings remain unchanged in conjunction with the
implementation of Moody's Loss Given Default and Probability-of-
Default rating methodology for existing non-financial
speculative-grade corporate issuers in Europe, Middle East and
Africa.

Moody's explains that current long-term credit ratings are
opinions about expected credit loss, which incorporate both the
likelihood of default and the expected loss in the event of
default.  The LGD rating methodology will disaggregate these two
key assessments in long-term ratings.  The LGD rating
methodology will also enhance the consistency in Moody's
notching practices across industries and will improve the
transparency and accuracy of Moody's ratings as Moody's research
has shown that credit losses on bank loans have tended to be
lower than those for similarly rated bonds.

Probability-of-default ratings are assigned only to issuers, not
specific debt instruments, and use the standard Moody's
alphanumeric scale.  They express Moody's opinion of the
likelihood that any entity within a corporate family will
default on any of its debt obligations.

Loss-given-default assessments are assigned to individual rated
debt issues -- loans, bonds, and preferred stock.  Moody's
opinion of expected loss are expressed as a percent of principal
and accrued interest at the resolution of the default, with
assessments ranging from LGD1 (loss anticipated to be 0% to 9%)
to LGD6 (loss anticipated to be 90% to 100%).

Headquartered in Zurich, Switzerland Barry Callebaut --
http://www.barry-callebaut.com/-- manufactures cocoa,  
chocolate, and confectionery products.  Barry Callebaut is
present in 25 countries, operates more than 30 production
facilities and employs around 8,000 people.  The company serves
the entire food industry, from food manufacturers to
professional users of chocolate, to global retailers.  It also
provides a comprehensive range of services in the fields of
product development, processing, training, and marketing.


DHB LLC: Creditors' Liquidation Claims Due May 7
------------------------------------------------
Creditors of LLC DHB have until May 7 to submit their claims to:

         Mooswiesenstr. 19
         8598 Bottighofen
         Kreuzlingen TG
         Switzerland

The Debtor can be reached at:

         LLC DHB
         Bottighofen
         Kreuzlingen TG
         Switzerland


GLOBOGAL IMMOBILIEN: Creditors' Liquidation Claims Due May 3
------------------------------------------------------------
Creditors of JSC Globogal Immobilien have until May 3 to submit
their claims to:

         Monica Stauffer
         Liquidator
         Tannlihag 5
         5600 Lenzburg AG
         Switzerland

The Debtor can be reached at:

         JSC Globogal Immobilien
         Seon
         Lenzburg AG
         Switzerland


IFAO (SCHWEIZ): Creditors' Liquidation Claims Due May 7
-------------------------------------------------------
Creditors of JSC IFAO (Schweiz) have until May 7 to submit their
claims to:

         JSC Intactus Treuhand
         Liquidator
         Baarerstrasse 71
         6302 Zug
         Switzerland

The Debtor can be reached at:

         JSC IFAO (Schweiz)
         Zug
         Switzerland


MAKINA HOLDING: Creditors' Liquidation Claims Due May 3
-------------------------------------------------------
Creditors of JSC Makina Holding have until May 3 to submit their
claims to:

         Zellweger Hannes
         Liquidator
         Saumhalde 5
         9102 Herisau AR
         Switzerland

The Debtor can be reached at:

         JSC Makina Holding
         Zug
         Switzerland


MIMOBA JSC: Creditors' Liquidation Claims Due May 3
---------------------------------------------------
Creditors of JSC Mimoba Holding have until May 3 to submit their
claims to:

         Dr. iur. Romano Kunz
         Liquidator
         Ottoplatz 19
         7001 Chur
         Plessur GR
         Switzerland

The Debtor can be reached at:

         JSC Mimoba
         Chur
         Plessur GR
         Switzerland


NOVA CASA: Graubunden Court Starts Bankruptcy Proceedings
---------------------------------------------------------
The Bankruptcy Court of Imboden in Graubunden commenced
bankruptcy proceedings against LLC Nova Casa Baumanagement on
March 14.

The Bankruptcy Service of Imboden can be reached at:

         Bankruptcy Service of Imboden
         7013 Domat/Ems GR
         Switzerland

The Debtor can be reached at:

         LLC Nova Casa Baumanagement
         Sum Curtgins 6 D
         7013 Domat/Ems GR
         Switzerland


ROBINSON RESEARCH: Zug Court Starts Bankruptcy Proceedings
----------------------------------------------------------
The Bankruptcy Court of Zug commenced bankruptcy proceedings
against JSC Robinson Research on March 19.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC Robinson Research
         6300 Zug
         Switzerland


ROCA COLORADA: Creditors' Liquidation Claims Due May 7
------------------------------------------------------
Creditors of JSC Roca Colorada have until May 7 to submit their
claims to:

         Peter Gerber
         Liquidator
         Geisserweg 3
         8306 Bruttisellen
         Switzerland

The Debtor can be reached at:

         JSC Roca Colorada
         Risch ZG
         Switzerland


VOWI CONSULTING: Zug Court Starts Bankruptcy Proceedings
--------------------------------------------------------
The Bankruptcy Court of Zug commenced bankruptcy proceedings
against LLC VOWI Consulting & Treuhand on Feb. 27.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         LLC VOWI Consulting & Treuhand
         6300 Zug
         Switzerland


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


ARTEX LLC: Claims Registration Bar Date Set May 3
-------------------------------------------------
Creditors of LLC Artex have until May 3 to submit written proofs
of claim to:

         State Tax Inspection in Solomenka of Kiev
         Liquidator
         Smilianskaya Str. 6
         03151 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as Case No. 15/123-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 Artex
         Vozduhoflotsky Avenue 54
         03151 Kiev
         Ukraine


CHONGDAO LLC: Claims Registration Deadline Set May 3
----------------------------------------------------
Creditors of LLC Chongdao (code EDRPOU 22142373) have until
May 3 to submit written proofs of claim to:

         O. Layevsky
         Liquidator
         Yuzhnoukrainskaya Str. 2-A
         69037 Zaporozhje
         Ukraine

The Economic Court of Zaporozhje commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed as Case No. 19/177/06.

The Court is located at:

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

The Debtor can be reached at:

         LLC Chongdao
         Matrosov Str. 11
         69057 Zaporozhje
         Ukraine


CONCOUR-MM LLC: Claims Registration Bar Date Set May 3
------------------------------------------------------
Creditors of LLC Concour-MM (code EDRPOU 31283693) have until
May 3 to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company on March 19 after finding it insolvent.  The
case is docketed as Case No. 15/152-b.

The Debtor can be reached at:

         LLC Concour-MM
         Metallistov Str. 17
         03057 Kiev
         Ukraine


DARDAN-1 LLC: Claims Registration Deadline Set May 2
----------------------------------------------------
Creditors of LLC Dardan-1 (code EDRPOU 33204753) have until
May 2 to submit their proofs of claims to:

         V. Kalashnikov
         Liquidator
         Narodov Str. 223
         Druzhba
         61183 Kharkov
         Ukraine

The Economic Court of Kharkov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as Case No. B-50/42-07.

The Court is located at:

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

The Debtor can be reached at:

         LLC Dardan-1
         Novgorod Str. 2
         Kharkov
         Ukraine


DNIEPRO INVEST: Claims Registration Deadline Set May 3
------------------------------------------------------
Creditors of LLC Dniepro Invest Group (code EDRPOU 32447542)
have until May 3 to submit written proofs of claim to:

         Rostislav Talan
         Liquidator
         a/b 158
         49000 Dnipropetrovsk
         Ukraine

The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed as Case No. B 24/133-07.

The Court is located at:

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

The Debtor can be reached at:

         LLC Dniepro Invest Group
         Novoselovskaya Str. 42
         49000 Dnipropetrovsk
         Ukraine


IFV PLANT: Claims Registration Deadline Set April 28
----------------------------------------------------
Creditors of LLC IFV Plant (code EDRPOU 31329659) have until
April 28 to submit written proofs of claim to:

         Alexander Kharitonov
         Liquidator
         Syrovitsa 38-5
         Dnieprodzerzhynsk
         51900 Dnipropetrovsk
         Ukraine

The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed as Case No. B 24/102-07.

The Court is located at:

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

The Debtor can be reached at:

         LLC IFV Plant
         Krivoy Rog Str. 1 A
         Dnipropetrovsk
         Ukraine


KOLOS CJSC: Claims Registration Deadline Set May 2
--------------------------------------------------
Creditors of Agricultural CJSC Kolos (code EDRPOU 14005998) have
until May 2 to submit written proofs of claim to:

         Aleksey Sysoev
         Liquidator
         Petropavlovskaya Str. 74]
         Sumy
         Ukraine

The Economic Court of Sumy commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as Case No. 7/576-06.

The Court is located at:

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

The Debtor can be reached at:

         Agricultural CJSC Kolos
         Kirichenko Str. 9
         Lokhnia
         42313 Sumy
         Ukraine


REAL LLC: Claims Registration Bar Date Set May 3
------------------------------------------------
Creditors of LLC Ukrainian Trade Real (code EDRPOU 32977877)
have until May 3 to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as Case No. 15/151-b.

The Debtor can be reached at:

         LLC Ukrainian Trade Real
         Vasilenko Str. 7-A
         03124 Kiev
         Ukraine


SIGMA JSC: Claims Registration Deadline Set May 2
-------------------------------------------------
Creditors of JSC Sigma (code EDRPOU 30237866) have until May 2
to submit their proofs of claims to:

         Aleksey Diukarev
         Liquidator
         Zapadnaya Str. 2-V
         Malaya Rogan
         61140 Kharkov
         Ukraine

The Economic Court of Kharkov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as Case No. B-19/72-07.

The Court is located at:

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

The Debtor can be reached at:

         JSC Sigma
         Pushkin Str. 59/45
         Kharkov
         Ukraine


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


ADVANCED MARKETING: Wants Exclusive Period Pushed Until Aug. 10
---------------------------------------------------------------
Advanced Marketing Services Inc. and its debtor-affiliates ask
the United States Bankruptcy Court for the District of Delaware
to extend their exclusive periods to:

    (1) file a Chapter 11 plan until Aug. 10; and

    (2) solicit acceptances of that plan until Oct. 9.

The Debtors' exclusive period to file a chapter 11 plan expires
on April 28, 2007.  Section 1121(b) of the Bankruptcy Code
provides for an initial 120-day period after the Petition Date
during which a debtor has the exclusive right to file a Chapter
11 plan.  Section 1121(c)(3) provides that if a debtor proposes
a plan within the exclusive filing period, it has a period of
180 days after the Petition Date to obtain acceptances of the
plan.  

Mark D. Collins, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, relates that the Debtors believe these
dates are consistent with the plan process timeline they have
discussed with the Official Committee of Unsecured Creditors.

Mr. Collins asserts that the Debtors' Exclusive Periods should
be extended because:

    (a) the Debtors' Chapter 11 cases are large and complex and
        they need more time to craft a plan of reorganization;

    (b) in addition to negotiating debtor-in-possession
        financing and the sales of their assets, the Debtors
        have been making significant progress in their efforts
        on stabilizing, winding down their remaining operations,
        and implementing the transition services related to the
        Sales;

    (c) while the Debtors will shortly file a request for the
        Court to establish bar dates for filing proofs of claim,
        it will only be after the claims bar date has passed
        that the Debtors will be in a position to begin
        evaluating the universe of claims against them and, in
        light of that evaluation and the results of their
        planning process, develop the plan; and

    (d) the Debtors believe that analysis of their remaining
        executory contracts and leases, review of claims,
        development of a draft plan and negotiations with their
        various constituencies regarding the terms of a plan and
        the related process, together with the day-to-day tasks
        of operating as Chapter 11 debtors-in-possession, will
        consume the bulk of their time and efforts in the coming
        months.

The Debtors submit that the extension of the Exclusive Periods
will not harm creditors or other parties-in-interest.  In light
of the significant issues that must be resolved before a plan
can be finalized, the Debtors believe that neither their
creditors nor any other party-in-interest would be in a position
to propose a plan before the proposed expiration of the
Exclusive Filing Period in the first instance.

                About Advanced Marketing Services

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

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.  
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors.  When the Debtors filed for protection from
their creditors, they listed estimated assets and debts of more
than US$100 million.  The Debtors' exclusive period to file a
chapter 11 plan expires on April 28, 2007. (Advanced Marketing
Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


ADVANCED MARKETING: Asks Court to Fix Claims Bar Date to July 2
---------------------------------------------------------------
Advanced Marketing Services Inc. and its debtor-affiliates ask
the United States Bankruptcy Court for the District of Delaware
to enter a ruling establishing July 2 as the bar date by which
all entities, including governmental units, must file proofs of
claim in the Debtors' Chapter 11 cases.  Additionally, the
Debtors ask the Court to establish a bar date to file:

    (a) claims relating to the Debtors' rejection of executory
        contracts or unexpired leases pursuant to Section 365 of
        the Bankruptcy Code;

    (b) claims as a result of amendments to the Debtors'
        schedules of assets and liabilities;

    (c) administrative expense claims asserted under Section
        503(b)(9) of the Bankruptcy Code;

    (d) all other non-Section 503(b)(9) administrative expense
        claims arising or accruing on or before April 30 under
        Sections 503(b) and 507(a) of the Bankruptcy Code.

The Debtors ask the Court to approve the form and manner of
notice of the Bar Dates.

Mark D. Collins, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, relates that as the General Bar Date falls
more than 180 days from the Petition Date, the General Bar Date
will apply to governmental units.  He notes that Rule 3003(c)(3)
of the Federal Rules of Bankruptcy Procedure provides that a
"court [will] fix and for cause shown may extend the time within
which proofs of claim or interest may be filed."

                        General Bar Date

Mr. Collins says that except as provided, the General Bar Date
would apply to all entities holding claims against the Debtors
-- whether secured, unsecured, priority or unsecured non-
priority -- that arose before the Petition Date.  The proposed
General Bar Date is approximately 60 days after the date the
Debtors will serve the Bar Date Notice.

The Debtors propose that, subject to the provisions set forth
for holders of claims subject to the proposed Rejection Bar
Date, the Schedules Bar Date, the Section 503(b)(9) Bar Date,
and the First Administrative Bar Date, these entities must file
claims on or before the General Bar Date:

    -- any entity whose prepetition claim against a Debtor is
       not listed in the applicable Debtor's Schedules or is
       listed as disputed, contingent or unliquidated in the
       Schedules, and that desires to participate or share in
       any distribution in the Debtors' Chapter 11 cases; and

    -- any entity that believes that its prepetition claim is
       improperly classified or is listed in an incorrect amount
       in the Schedules, and that desires to have its claim
       allowed in a classification or amount other than that
       identified in the Schedules.

These entities, whose claims otherwise would be subject to the
General Bar Date, need not file claims:

    -- any entity that already has properly filed a claim
       against one or more of the Debtors in accordance with the
       procedures described;

    -- any entity (1) whose claim against a Debtor is not listed
       as disputed, contingent or unliquidated in the Schedules,
       and (2) that agrees with the nature, classification and
       amount of its claim as identified in the Schedules;

    -- any entity whose claim against a Debtor previously has
       been allowed by, or paid pursuant to, a Court ruling;

    -- Interest Holders whose claims are based exclusively on
       the ownership of Interests; and

    -- any of the Debtors that hold claims against one or more
       of the Debtors.

                        Rejection Bar Date

Unless a different deadline has previously been established by a
Court ruling, the Debtors propose that for any claim relating to
a rejection of an executory contract or unexpired lease, the bar
date for the claim will be the later of (a) the General Bar Date
for all Entities, or (b) 30 days after the service of a Court
ruling approving rejection on the affected entities.

                        Schedules Bar Date

The Debtors propose that they will retain the right to:

    * dispute, or assert offsets or defenses against, any filed
      claim or any claim listed or reflected in the Debtors'
      Schedules as to nature, amount, liability, classification
      Or otherwise;

    * subsequently designate any claim as disputed, contingent
      or unliquidated; and

    * otherwise amend their Schedules, provided that if one of
      the Debtors amends its Schedules to reduce the undisputed,
      non-contingent and liquidated amount or to change the
      nature or classification of a claim against a Debtor, the
      affected claimant will have until the Schedules Bar Date
      to file a claim or to amend any previously filed proof of
      claim in respect of the amended scheduled claim.

The Debtors ask the Court to fix the Schedules Bar Date to the
later of (a) the General Bar Date, or (b) 30 days after the date
that a notice of the applicable amendment to the Schedules, if
any, is served on the claimant.

To the extent the Debtors amend their Schedules relating to the
claim of any creditor, the Debtors will serve notice of both the
amendment and the Schedules Bar Date on the affected creditor.  
Nothing would preclude the Debtors from amending their Schedules
in accordance with the Local Rules of Bankruptcy Practice and
Procedure for the U.S. Bankruptcy Court in the District of
Delaware.

                      Section 503(b)(9) Bar Date

To properly address all Section 503(b)(9) Claims, the Debtors
propose that the Court establish the General Bar Date as the
Section 503(b)(9) Bar Date.  The Debtors believe that the time
period is adequate and appropriate under the circumstances
because:

    (a) Rule 2002 of the Federal Rules of Bankruptcy Procedure
        only requires 20 days notice of a claims bar date; and

    (b) holders of reclamation claims are provided, by statute,
        only 20 days to file reclamation claims, and Section
        503(b)(9) Claims might overlap with reclamation claims.

Under Section 503(b)(9), a claim is accorded administrative
expense priority where the claim is for "the value of any goods
received by the debtor within 20 days before the date of
commencement of a case under [Chapter 11] in which the goods
have been sold to the debtor in the ordinary course of [the]
debtor's business."  Thus, the Debtors must pay these claims in
full to confirm a bankruptcy plan, Mr. Collins says.

The Debtors ask the Court to approve the notice procedures
designed to apprise holders of potential Section 503(b)(9)
Claims that if they fail to file a request for payment of claims
on or before the Section 503(b)(9) Bar Date, the holders will be
forever barred and estopped from asserting their Section
503(b)(9) Claims against the Debtors.

                  First Administrative Bar Date

The Debtors propose that the Court establish the General Bar
Date as the First Administrative Bar Date.  The First
Administrative Bar Date is the deadline for claimants requesting
the allowance of administrative expense claims arising under
Sections 503(b), 507(a) or any other section of the Bankruptcy
Code, except Section 503(b)(9) Claims, arising or accruing on or
after the Petition Date but prior to or on April 30 to file a
claim.

Mr. Collins asserts that the circumstances of the Debtors'
Chapter 11 cases justify setting the First Administrative Bar
Date as requested because the Debtors are in the process of
completing the sale of substantially all of their assets and
intend to file a Chapter 11 plan.  In connection with the Plan
and wind-down process, the Debtors must ascertain the amount and
the extent of Administrative Expense Claims asserted against
their estate.

The Debtors also propose that the Court approve their proposed
proof of administrative claim form; permit creditors to assert
claims without the necessity of requesting a formal hearing; and
set an objection deadline.

The Debtors propose that these entities, whose claims otherwise
would be subject to the First Administrative Bar Date, need not
file claims:

    * professionals retained pursuant to Sections 327, 328 and
      363 of the Bankruptcy Code who may seek fees, expenses and
      other compensation for their services;

    * members of the Official Committee of Unsecured Creditors
      who may seek expenses pursuant to Section 503(b)(3)(F) of
      the Bankruptcy Code;

    * those seeking fees payable and unpaid under Section 1930
      of the Judiciary Procedures Code;

    * those seeking fees or charges assessed against the
      Debtors' estates under Section 123 of the of the Judiciary
      Procedures Code;

    * employees, officers and directors employed by the Debtors
      as of the Service Date; and

    * any of the Debtors or their affiliates who may seek to
      assert inter-company claims.

Any entity holding an interest in any Debtor, which interest is
based exclusively on the ownership of common or preferred stock
in a corporation, a membership interest in a limited liability
partnership, or warrants or rights to purchase, sell, or
subscribe to a security or interest, need not file a proof of
interest on or before the General Bar Date.  However, Interest
Holders who wish to assert claims against any of the Debtors
that arise out of or relate to the sale, issuance, or
distribution of the Interest, must file claims on or before the
General Bar Date, unless another exception identified in the
request applies.

The Debtors will serve on all known entities holding potential
prepetition claims:

    (i) a notice of the Bar Dates;

   (ii) a proof of claim form based upon Official Form No. 10;

  (iii) the Section 50.3(b)(9) Claim Request form; and

   (iv) the Proof of Administrative Claim Form.

The Debtors anticipate that they will serve on all known
Entities holding potential prepetition Claims the Bar Dates
Notice Package within three business days after the Court
approves the request.  All entities asserting claims against
more than one Debtor are required to file a separate claim with
respect to each Debtor.

                About Advanced Marketing Services

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

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.  
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors.  When the Debtors filed for protection from
their creditors, they listed estimated assets and debts of more
than US$100 million.  The Debtors' exclusive period to file a
chapter 11 plan expires on April 28, 2007. (Advanced Marketing
Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


ALFRED MCALPINE: Independent Probe Confirms Systematic Fraud
------------------------------------------------------------
Ashurst and Deloitte completed its independent investigation
into accounting irregularities identified within Alfred McAlpine
Plc's slate business, confirming the extensive and systematic
fraud by senior managers within the business dating back several
years.

In the light of the uncovering of these irregularities, the
remit of the Deloitte investigation also included a wider review
of relevant key financial control procedures in the company's
core businesses.  This review has been completed and confirmed
the robustness and appropriateness of the company's existing
control procedures.  No material issues were identified.

"Our three core businesses made substantial progress in 2006,
delivering further growth in underlying profits and the
opportunities for these businesses going forward remain strong.  
However, the discovery of extensive fraud within our slate
business has clearly overshadowed what would otherwise have been
another successful year for Alfred McAlpine," Ian Grice, group
chief executive, disclosed.

"The extent of the fraud and cover up within Slate has been a
shock to us all and is most disappointing, but we have responded
quickly and decisively.  Our immediate priority for Slate is to
return this business to profitability," Mr. Grice added.

On Feb. 26, Alfred McAlpine disclosed that an investigation by
its internal audit team had uncovered a systematic
misrepresentation of production volumes and sales for a number
of years by a number of senior managers at Slate.

On discovering these irregularities, the Board immediately
suspended two senior managers at Slate and instigated an
independent forensic investigation, under the terms of which
Ashurst and Deloitte have now reported their findings on
accounting irregularities in the slate business to the Audit
Committee.

The investigatory work has confirmed that the controls in Slate
were systematically circumvented over a number of years to
overstate results.  It is clear that the behavior and collusion
of the managers responsible was entirely deliberate and involved
fraud.  The Managing Director of Slate has been dismissed and
the Operations Director is subject to disciplinary proceedings.  
The other members of the former senior management team of Slate
have already left the business.

The impacts on the Group's Income Statement for the year to
Dec. 31, 2006, and on its Balance Sheet as at Dec. 31, 2006,
include:

  (a) a reduction in reported Group revenue and pre-tax profit
      in relation to the sales fraud in the years up to and
      including 2006 of GBP22.9 million, of which GBP5.4 million
      represents deferred income which will be recognized in
      2007 - in line with the guidance given in the statement on
      Feb. 26, 2007;

  (b) a reduction of GBP17.6 millionin the current assets of the
      Group, as reflected in the Group Balance Sheet as at
      Dec. 31, 2006, in respect of the write down/impairment of       
      the value of stock and work in progress in the slate
      business;

  (c) a reduction of GBP9.5 million in the fixed assets of the
      Group, as reflected in the Group Balance Sheet as at
      Dec. 31, 2006, principally  in respect of the
      overstatement of quarry development costs in the slate
      business; and

  (d) a one-off cost of GBP6 million reflecting the costs of the
      independent investigation and the costs of completing the
      arrangement of new banking facilities with the Group's
      bankers.

The cash impact on the Group of the accounting irregularities
and the non-recurring costs referred to above is expected to be
GBP30 million in 2007.

"We are determined to ensure we retain maximum focus on the
three strong core businesses that make up the bulk of Alfred
McAlpine's business.  Each of these has excellent opportunities
and we are confident, as reflected in the recommended final
dividend, that we will be able to deliver continued growth in
the years ahead," Mr. Grice concluded.

                  Finance Director Steps Down

Dominic Lavelle has decided to stand down as Finance Director
from the board with immediate effect.  He will leave the
business following a short handover period.  The search for a
replacement has commenced and until a successor is found, Mark
Greenwood, Finance Director of Project Services has been
appointed interim finance director.


Headquartered in London, England, Alfred McAlpine Plc --
http://www.alfredmcalpineplc.com/-- is a leading support  
services group focused on providing clients with integrated
solutions for built environment needs.  The company employs over
8,500 people.


ARMOR HOLDINGS: Bags US$345 Million Truck Order from U.S. Army
--------------------------------------------------------------
Armor Holdings Inc. has received a US$345-million order for
production of additional Family of Medium Tactical Vehicle
trucks and trailers from the U.S. Army Tank-automotive and
Armaments Command.  

The company advised that the order is made under the existing
multi-year FMTV production contract, with work to be performed
in 2007 and 2008 by the Armor Holdings Aerospace & Defense Group
at its facilities located in Sealy, Texas.

"This new order gives Armor Holdings the opportunity to continue
providing the most reliable tactical vehicles to our soldiers,"
Robert Schiller, President of Armor Holdings Inc., said.  "We
are extremely proud to support the Army's deployed and home-
based missions with the FMTV."

                      About Armor Holdings

Headquartered in Jacksonville, Florida, Armor Holdings, Inc. --
http://www.armorholdings.com/-- manufactures and distributes  
security products and vehicle armor systems for the law
enforcement, military, homeland security, and commercial
markets.  The company has operations in Australia, England and
Brazil.

                          *     *     *

In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology, the rating agency confirmed its Ba3 Corporate
Family Rating for Armor Holdings Inc.  Additionally, Moody's
affirmed its B1 ratings on the company's 2% Convertible Senior
Subordinated Notes Due 2024 and 8.25% Senior Subordinated Notes
Due 2013.  Moody's assigned those debentures an LGD5 rating
suggesting noteholders will experience a 77% loss in the event
of default.


BRITISH AIRWAYS: Mulls Consortium Offer for Iberia
--------------------------------------------------
British Airways plc is considering how to use its 10% holding in
Iberia Lineas Aereas de Espana SA.

As part of this process, the airline has approached a number of
private equity companies about making a consortium offer for
Iberia.  Any consortium bid would not involve further capital
investment by British Airways.  As well as a private equity
partner, this consortium is likely to include one or more
Spanish partners.

British Airways has not made a final decision about the future
of its shareholding in Iberia and continues to examine numerous
options including full disposal.  However, it has ruled out an
independent bid for the airline.

As previously reported in the TCR-Europe on April 5, British
Airways has decided to appoint UBS AG to advise on how to use
its 10% holding in Iberia in the best interests of shareholders.

The move came after Iberia disclosed that it has received a bid
approach from private equity firm Texas Pacific Group.

According to the report, TPG is considering a cash offer of
EUR3.60 a share, which values Iberia at EUR3.4 billion (US$4.5
billion.

                     About British Airways

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

                        *     *     *

In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the existing non-financial speculative-grade
corporate issuers in Europe, Middle East and Africa, the rating
agency confirmed its Ba1 Corporate Family Rating for British
Airways Plc.  

* Issuer: British Airways, Plc

                                                      Projected
                           Old POD  New POD  LGD      Loss-iven
   Debt Issue              Rating   Rating   Rating   Default
   ----------              -------  -------  ------   ----------
   GBP100-million 10.875%
   Sr. Unsec. Regular
   Bond/Debenture
   Due 2008                Ba2      Ba2      LGD5     84%

   GBP250-million 7.25%
   Sr. Unsec. Regular
   Bond/Debenture
   Due 2016                Ba2      Ba2      LGD5     84%

As reported in the TCR-Europe on March 27, Standard & Poor's
Ratings Services said that its 'BB+' long-term corporate credit
rating on British Airways PLC remains on CreditWatch, with
positive implications, following a vote on March 22 by EU
ministers approving a proposed "open skies" aviation treaty with
the U.S.


BRITISH AIRWAYS: Appoints Julia Simpson as Communications Head
--------------------------------------------------------------
British Airways plc has appointed Julia Simpson as Head of
Corporate Communications with effect from August 2007.  

Ms. Simpson will report to Chief Executive, Willie Walsh.  She
will be responsible for corporate media relations, the newsdesk
and internal communications.

"British Airways is one of the U.K.'s highest profile business
brands, Mr. Walsh said.  "This is one of the most important jobs
in communications and we are delighted that Julia is joining us.  
Her background and experience are exactly what we need given the
wide-ranging communications agenda that we have over the medium
term."

Thomas Coops has agreed to continue as Head of Corporate and
Media Relations until the end of July to ensure a smooth
transition.

                      About British Airways

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

                        *     *     *

In connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the existing non-financial speculative-grade
corporate issuers in Europe, Middle East and Africa, the rating
agency confirmed its Ba1 Corporate Family Rating for British
Airways Plc.  

* Issuer: British Airways, Plc

                                                      Projected
                           Old POD  New POD  LGD      Loss-iven
   Debt Issue              Rating   Rating   Rating   Default
   ----------              -------  -------  ------   ----------
   GBP100-million 10.875%
   Sr. Unsec. Regular
   Bond/Debenture
   Due 2008                Ba2      Ba2      LGD5     84%

   GBP250-million 7.25%
   Sr. Unsec. Regular
   Bond/Debenture
   Due 2016                Ba2      Ba2      LGD5     84%

As reported in the TCR-Europe on March 27, Standard & Poor's
Ratings Services said that its 'BB+' long-term corporate credit
rating on British Airways PLC remains on CreditWatch, with
positive implications, following a vote on March 22 by EU
ministers approving a proposed "open skies" aviation treaty with
the U.S.


CLEAR CHANNEL: Sells TV Stations to Providence for US$1.2 Bil.
--------------------------------------------------------------
Clear Channel Communications Inc. has agreed to sell its
Television Group to Providence Equity Partners Inc. for
approximately US$1.2 billion.

The sale includes 56 television stations, including 18 digital
multicast stations, located in 24 markets across the United
States.  Also included in the sale are the stations' associated
Web sites, the Television Operations Center, and Inergize
Digital Media, which manages the Television Group's online and
wireless initiatives.  The transaction is expected to close in
the fourth quarter of 2007, subject to regulatory approvals and
other customary closing conditions.

"The stations and management of Clear Channel Television have
established an outstanding record of achievement, innovation and
community service in broadcasting and web development"
Commenting on the transaction, Mark Mays, Chief Executive
Officer of Clear Channel said.  "While we will miss the
important role they have played in the Clear Channel family, we
are excited that they will be partnered with Providence Equity
to continue to pursue growth opportunities in the rapidly
changing media environment."

"This is a rare opportunity to acquire a premier collection
of broadcast television stations with strong positions in many
attractive markets across the United States," said Al Dobron, a
Managing Director of Providence Equity.  "We are pleased to
again partner with Sandy DiPasquale to create value at these
local broadcasting stations and identify additional potential
high-quality television opportunities."

"These are well run, quality television stations," said Sandy
DiPasquale, a veteran broadcast executive and the President and
CEO of BlueStone Television.  "I look forward to continuing my
partnership with Providence Equity and working with the talented
CCTV employees to build on their success integrating broadcast
and internet services to serve their communities."

The Television Group currently consists of ten CW, eight FOX,
seven NBC, six ABC, six CBS, four My Network TV, two NBC Weather
Plus, two Telemundo, five independent stations, and six stations
affiliated with Clear Channel's Variety Television Network
(VTV).   A chart of the individual broadcast properties, by
location and network affiliation, is attached below.

Clear Channel estimates net proceeds after-tax and after
customary transaction costs will be approximately US$1.1 billion
for the Television Group.  Information on the treatment of tax
loss carry forwards relative to this sale is provided below.

                     Tax Loss Carry Forwards

The Company plans to utilize its capital loss carry forward to
offset the related capital gain on the transactions.  A portion
of the gain will be considered ordinary gain, not capital gain,
due to depreciation and amortization recapture, and will be
taxed as ordinary income.

There can be no assurance that any of the divestures
contemplated in this release will actually be consummated and
therefore the Company may not receive the proceeds estimated
herein.  Furthermore, there can be no assurance that the Company
will be able to utilize tax loss carry forwards to offset
capital gains as contemplated in this release.  

                  Sales Not Contingent Upon Merger

All sales and contemplated future divestitures mentioned in this
release are not contingent upon the completion of the separate
merger proposal for Clear Channel Communications, Inc.

                   Update On Radio Divestitures

The company reported that it was also attempting to divest 448
radio stations in 88 markets.  At preset, the company has
entered definitive agreements to sell 161 radio stations in 34
markets for a total consideration of approximately US$331
million.  The company expects these transactions to close during
the second half of 2007.  The company estimates net proceeds
after-tax and after customary transaction costs for these 161
stations will be approximately US$300 million.  Information on
the treatment of tax loss carry forwards relative to these sales
is provided below.   

The company continues to pursue the divestiture of 287 radio
stations in 54 markets.  These remaining stations that are not
under definitive agreement had OIBDAN* of approximately
US$54 million in 2006.  There can be no assurance that any or
all of these stations will ultimately be divested and the
Company reserves the right to terminate the sales process at any
time.

OIBDAN is defined as Operating Income before Depreciation &
Amortization, Non-Cash Compensation Expense and Gain on
Disposition of Assets - Net.  Since OIBDAN is not a measure
calculated in accordance with GAAP, it should not be considered
as a substitute for operating income or net income.    
  
               About Clear Channel Communications

Based in San Antonio, Texas, Clear Channel Communications Inc.
(NYSE:CCU) -- http://www.clearchannel.com/-- is a global media   
and entertainment company specializing in "gone from home"
entertainment and information services for local communities and
premiere opportunities for advertisers.  The company's
businesses include radio, television and outdoor displays.  
Outside U.S., the company operates in 11 countries -- Norway,
Denmark, the United Kingdom, Singapore, China, the Czech
Republic, Switzerland, the Netherlands, Australia, Mexico and
New Zealand.

  
CLEAR CHANNEL: Raised Bid Prompts S&P to Cut Credit Rating to B+
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
and senior unsecured debt ratings on Clear Channel
Communications Inc. to 'B+' from 'BB+'.  

The ratings remain on CreditWatch with negative implications,
where they were placed on Oct. 26, 2006, following the company's
announcement that it was exploring strategic alternatives to
enhance shareholder value.
     
The downgrade and continuing negative CreditWatch implications
are based on the company's confirmation that the private equity
consortium jointly led by Bain Capital Partners LLC and
Thomas H. Lee Partners L.P. has raised its offer for the company
to US$39.00 per share, from its previous bid of US$37.60.  The
proposed total transaction value is now approximately
US$27.1 billion, assuming the inclusion of roughly US$7.7
billion of existing debt.
     
"The downgrade stems from our conclusion that if the proposed
transaction goes through, credit measures will be heavily
burdened by buyout debt," said Standard & Poor's credit analyst
Michael Altberg.  "Although the company has not announced
specific financing terms of the new capital structure, we would
expect a marked increase in leverage if the deal is
consummated."
     
As Standard & Poor's gets the opportunity to review the proposed
capital structure and the financial and operating strategies of
the new owners, it could further lower the ratings.  If the deal
is not approved by shareholders, Standard & Poor's would revisit
the rating at that time.
     
The merger is subject to approval by Clear Channel's
shareholders and needs two-thirds approval to pass, with
abstentions counting against the deal.  A shareholder vote has
been scheduled for May 8.
     
S&P will continue to monitor developments surrounding the
proposed merger and will review the business and financial
strategies, as well as post-transaction liquidity, in
determining the new rating.


COLLINS & AIKMAN: Seeks Court Nod on PBGC Settlement Agreement
--------------------------------------------------------------
Collins & Aikman Corp. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Eastern District of Michigan to approve
their settlement agreement with the U.S. Pension Benefits
Guaranty Corp. to provide for the settlement of their
obligations to the PBGC and the government agency's take over of
their pension plan.

The Debtors maintained one consolidated tax-qualified United
States defined benefit pension plan sponsored by Collins &
Aikman Products Co., entitled the C&A Pension Plan.  The Pension
Plan provides retirement benefits to certain of the Debtors'
current and former employees, many of whom are represented by
labor unions, and is covered by Title IV of the Employee
Retirement Income Security Act.  The Pension Plan assets are not
part of the Debtors' estates.

On March 29, 2007, the PBGC issued a notice of determination
that the Pension Plan has not met the minimum funding standards
and will be unable to pay benefits when due.  The NOD states
that the Pension Plan must be terminated, effective March 31, to
protect participants in the Pension Plan and PBGC.

Under ERISA, the PBGC has the authority to terminate the Pension
Plan and appoint a trustee of the Pension Plan without the
Debtors' consent.

The Debtors are pursuing a cooperative sale process, which the
Debtors expect will culminate with the confirmation of their
First Amended Joint Plan.  A condition to confirmation of the
Plan is the termination of the Pension Plan.

To effectuate the involuntary termination of the Pension Plan by
the PBGC and appointment of the PBGC as trustee of the Pension
Plan, and to resolve the administrative and unsecured claims of
the PBGC against the Debtors' estates and certain related
matters, the Debtors and the PBGC have agreed to a settlement
agreement and a termination & trustee agreement.

The principal terms of the Settlement Agreement and Termination
& Trustee Agreement are:

     * the PBGC will terminate the Pension Plan as of March 31;

     * the PBGC will be appointed trustee of the Pension Plan
       and C&A Products will transfer any records, assets or
       other property of the Pension Plan to the PBGC;

     * the PBGC will be granted (i) an allowed administrative
       claim of US$8,478,000 that will be paid in cash on the
       effective date, and (ii) an allowed general, unsecured
       claim of US$87,891,000 classified in Class 6 under the
       Plan;

     * the PBGC will be deemed to have settled and released any
       and all claims on its own behalf or on behalf of the
       Pension Plan against Collins arising from or related to
       (w) the Pension Plan; (x) minimum funding obligations;
       (y) the PBGC insurance premiums; and (z) unfounded  
       benefits liability;

     * the PBGC will be deemed to have fully and forever
       released any purported liens against Collins that exist,
       or could  have been asserted, under ERISA; and

     * the PBGC will not assert any set-off rights against
       Collins.

     * the PBGC will affirmatively support the Plan, Settlement
       Agreement, and the Termination & Trustee Agreement and
       any related relief sought by the Debtors to the extent
       that it does not limit or impair PBGC in the exercise of
       its fiduciary duties in its capacity as a member of the
       Official Committee of Unsecured Creditors.

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.  
The hearing to consider confirmation of the Debtors' Amended
Joint Plan is set for April 19, 2007.  (Collins & Aikman
Bankruptcy News, Issue No. 58; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


COLLINS & AIKMAN: Parties Oppose First Amended Plan Confirmation
----------------------------------------------------------------
The Ohio Department of Taxation and Noble International Ltd. ask
the U.S. Bankruptcy Court for the Eastern District of Michigan
to deny confirmation of Collins & Aikman Corp. and its debtor-
affiliates' First Amended Joint Plan.

                            Objections

(1) ODT

The ODT has filed numerous priority and unsecured tax claims in
the Debtors' Chapter 11 cases.

ODT objects to the ambiguous and vague language of Article XII
of the Debtors' First Amended Joint Plan, which provides that
officer liability may be released.

ODT reserves the right to retain and protect its liens to the
extent of potential officer liability, and has the right to
officer reassessments on any of its prepetition claims.

(2) Noble

Noble is the successor-in-interest to the rights, title, claims
and interests of Concept Engineering & Manufacturing Corp.

Before the Petition Date, Concept and the Debtors entered into
contracts for the manufacture by Concept of certain tooling
desired by the Debtors' Dura subsidiary and to be used by
Concept for the benefit of Dura.

Thomas R. Morris, Esq., at Silverman & Morris, P.L.L.C., in West
Bloomfield, Michigan, relates that the Debtors failed to pay for
the Tooling in full.  As of the Petition Date, US$191,622 was
due and owing Concept for the Tooling.

Concept utilized the Tooling to produce component parts for Dura
pursuant to purchase orders from Dura.  As of the Petition date,
the Debtors owed US$61,724 to Concept for parts manufactured for
Dura and delivered to Dura within 20 days before May 17, 2005.

Concept made a demand upon Dura for reclamation of the Parts and
filed a written demand with the Bankruptcy Court on June 3,
2005, Mr. Morris tells the Court.  The Tooling has at all times
remained in the possession of Noble, as successor to Concept.  
Noble has liens upon all the Tooling to secure the obligations
of the Debtors to Concept, he adds.

Noble has not filed a proof of claim with respect to its secured
claims and lien rights.  However, Noble has neither forfeited
nor waived the rights and retains the same.  As no proof of
claim has been filed, the secured claims do not fall within the
Plan's definition of "Allowed Claims," Mr. Morris states.

Mr. Morris points out that the Plan appears to violate Section
1129(a)(7)(A) and (8) of the Bankruptcy Code for several
reasons, including:

    -- the Plan seems to include the claims of Noble as "Other
       Priority Claims in Case II," which are purported to be
       Unimpaired.  The Plan contains no provision for payment
       of the Noble claim, as it is not an Allowed Claim.

    -- Article IV of the Plan provides for release of certain
       liens.  It contemplates that statutory liens on tooling
       will remain in effect until "satisfied pursuant to the
       Plan," but does not otherwise provide for payment of the
       Noble claims.

    -- the provision of third-party releases in Article XII(C)
       purports to effect a release by Noble of all claims
       against the Debtors, but the Plan provides no
       consideration therefore; and

    -- Article XII(E) purports to enjoin persons, such as Noble,
       from enforcing their lien rights upon the Tooling, but is
       without a basis in law, without consideration to Noble,
       without consent, and in direct contravention of Section
       1129(a)(7)(A)(ii).

(3) JSP

Before and since the Debtors' Petition Date, Lorro Inc., place
purchase orders with Meridian Automotive Systems - Detroit
Operations Inc., pursuant to which Meridian Detroit was to
manufacture and sell bumper energy absorbers, fascia supports
and other EPP automotive parts to Lorro.

Lorro also placed purchase orders with JSP Mold LLC, pursuant to
which JSP was to manufacture certain tooling needed by Meridian
Detroit in order to manufacture the Parts.  JSP shipped the
Tooling to Meridian Detroit at its facility in Detroit,
Michigan.  JSP remains unpaid for certain of the Tooling, Hannah
Mufson McCollum, Esq., at Pepper Hamilton LLP, in Detroit,
Michigan, informs the Court.

Lorro filed for Chapter 7 on April 28, 2006, in the United
States Bankruptcy Court for the Eastern District of Michigan and
went out of business.

Subsequent to the Lorro Petition Date, JSP obtained replacement
purchase orders from one or more of the Debtors for certain of
the Unpaid Tooling.  At the direction of one or more of the
Debtors, Meridian Detroit re-shipped certain of the Replacement
PO Tooling to Createc Inc.

Ms. McCollum states that JSP has taken all steps necessary under
applicable Michigan law to obtain and perfect a moldbuilders
lien on the Replacement PO Tooling, with the exception of the
2006 PM49 Rear Upper, Plus 9 Cavities (10 Total), T2 x 1000 -
Vertical.

Ms. McCollum notes that none of the Replacement PO Tooling is
property of any of the estates of any of the Debtors.  All
tooling is owned by others, including various original equipment
manufacturers.  However, the Debtors never acknowledged in their
Plan, Disclosure Statement or otherwise that the Replacement PO
Tooling is not property of their estates, she points out.

It is not clear to JSP how, if at all, any transfers, releases,
exculpations or injunctions in the Plan would impact its claims,
which are secured by its perfected moldbuilders liens.

The Plan also does not create a class, which specifically
includes holders of perfected moldbuilders liens, Ms. McCollum
says.  JSP is uncertain whether its claims would be considered
"Other Secured Claims" since its claims all arose postpetition
and are thus, administrative claims against the Debtors'
estates,
she adds.

Moreover, assuming administrative claims can be Other Secured
Claims under the Plan, if the Replacement PO Tooling is
determined to be property of any of the Debtors' estates, JSP's
claims would fall within two classes -- administrative claims
and Other Secured Claims, which classes provide for different
treatment, Ms. McCollum tells the Court.

Ms. McCollum asserts that to avoid any uncertainty regarding the
impact that confirmation of the Plan and transfers of property
of the Debtors' estates to buyers or trusts would have on the
moldbuilder liens asserted by JSP against the Replacement PO
Tooling, any order confirming the Plan should provide that any
properly perfected moldbuilders lien held by JSP in the
Replacement PO Tooling will not be divested by Plan
confirmation, the occurrence of the effective date or any
transfers contemplated by the Plan.

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.  
The hearing to consider confirmation of the Debtors' Amended
Joint Plan is set for April 19, 2007.  (Collins & Aikman
Bankruptcy News, Issue No. 58; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


COLLINS & AIKMAN: Plan Confirmation Hearing Adjourned to May 24
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Michigan
extended the deadline to vote on Collins & Aikman Corp. and its
debtor-affiliates' Plan and object to the Plan's confirmation
until May 7, 2007.

The Court also adjourned the hearing to consider the Plan's
confirmation until May 24, 2007.

The Court's Jan. 26, 2007 order approving the disclosure
statement to the Plan and the Solicitation Procedures provides
that (i) the voting deadline is April 7; and the (ii) the
Confirmation Hearing is scheduled for April 19.

Pursuant to the Solicitation Procedures, the Debtors may extend
the deadline to vote on the Plan to a date no later than five
days before the Confirmation Hearing with notice to all
creditors entitled to vote on the Plan.  The Debtors or the
Court may also adjourn the Confirmation Hearing.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York,
attests that the Debtors have worked diligently to satisfy all
of the conditions to confirmation of the Plan since the entry of
the Solicitation Procedures Order.

The Debtors have worked extensively with their major
constituents to market and sell the Debtors' assets, in
accordance with the deadlines set forth in the Plan and the
customer agreement among the Debtors and their major customers,
and settle several major outstanding creditor disputes, Mr.
Schrock tells the Court.

The Debtors believe that they will require a short extension to
satisfy the conditions to confirmation of the Plan.  After
consulting with the Official Committee of Unsecured Creditors'
advisors and the agent for the Debtors' prepetition senior,
secured lenders, the Debtors determined that it is in the best
interests of the Debtors' estates and their creditors to seek an
extension of the voting and confirmation objection deadline, and
an adjournment of the Confirmation Hearing.

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. 58;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


CONSTELLATION BRANDS: Joins Punch Taverns in Matthew Clark Deal
---------------------------------------------------------------
Constellation Brands Inc. has formed a joint venture with
Staffordshire, England-based Punch Taverns plc that will
reinforce Matthew Clark's position as the U.K.'s largest
independent premier drinks wholesaler and distributor serving
the on-trade drinks industry.

Under the terms of the arrangement, Constellation Europe and
Punch Taverns have each become 50 percent owners of Matthew
Clark and provide representation on a new holding company board.  
On a day-to-day basis the business will continue to be run by
Steve Thomson, currently managing director of Matthew Clark
Wholesale Limited, and his management team.

The joint venture will benefit customers, suppliers and
employees.  Capital investment will further enhance Matthew
Clark's reputation for providing outstanding customer value,
additional branded products and a faster, more efficient route-
to-market to the U.K. on-trade industry consisting of hotels,
pubs, clubs and restaurants.

For supply partners, Matthew Clark intends to become a more
effective, efficient and complete route-to-market for their
brands, including Constellation Europe's existing branded wine
offerings.

From the outset, Matthew Clark will supply a number of Punch
Taverns pubs with a portfolio of wines and spirits, and will
progressively become the preferred supplier of choice to the
remaining tenanted Punch Taverns pubs.  The pubs will benefit
from the scale and variety offered by Matthew Clark's wine and
spirits expertise, extensive drinks portfolio and supply chain
capabilities.

The joint venture will invest in Matthew Clark's distribution
infrastructure for such items as updated warehouse management
and route-scheduling software, which will enable more rapid
response rates for customers, faster and more efficiently
processed orders and a wider reach across the British Isles
through its highly skilled and knowledgeable sales team.

"Our joint venture with Punch Taverns is an innovative drinks
distribution initiative that will transform the business to one
with a focus on providing improved service and an unequalled
portfolio of drinks options to on-premise customers," stated Rob
Sands, Constellation Brands president and chief operating
officer.  "Given the importance of the U.K. on-premise drinks
business, this joint venture helps assure that Matthew Clark,
its customers and, most important, consumers can benefit from
distribution efficiency gains and expanded beverage offerings.  
We believe this collaboration will establish a new benchmark for
wholesale drinks distribution in the U.K. and it should result
in additional long-term growth for Matthew Clark."

The transaction closed April 17.  Although terms of the
agreement were not disclosed, Constellation Brands expects to
receive approximately GBP85 million (approximately US$168
million) of cash proceeds from formation of the joint venture,
subject to post-closing adjustments.  This includes GBP35
million from Punch Taverns with the remainder coming primarily
from the issuance of debt by the joint venture.

The transaction is not expected to result in a gain or loss.  
The company expects to incur a charge for the provision for
income taxes associated with the repatriation of the proceeds
from the transaction.  This is expected to result in a US$0.05
reduction to the company's fiscal 2008 diluted earnings per
share as reported under generally accepted accounting
principles, and will be excluded from the company's comparable
basis diluted earnings per share.

The impact of this transaction, including joint venture
formation costs, is expected to be neutral to slightly dilutive
to ongoing reported basis and comparable basis diluted earnings
per share in fiscal 2008.

As a result of this transaction the company now expects its
fiscal 2008 reported interest expense to be in the range of
US$300-US$310 million.  The company expects its reported tax
rate for fiscal 2008 to be approximately 40 percent, which
includes a provision of approximately two percent related to the
repatriation of the proceeds from the transaction, or
approximately 38 percent on a comparable basis.

Constellation will report its investment in the joint venture
under the equity method of accounting in its consolidated
financial statements.  For net sales in fiscal 2008, the company
expects low single-digit growth in organic net sales and low
single-digit incremental benefit from the acquisitions of Vincor
and SVEDKA.  As a result of these increases, and the impact of
reporting the Crown Imports joint venture and the joint venture
for the Matthew Clark wholesale business under the equity
method, reported net sales are expected to decrease 30-32
percent.

Due to the anticipated impact on reported earnings, the company
is adjusting its reported diluted EPS outlook for fiscal 2008
from that set forth in its April 5, 2007, news release, to
US$1.16-US$1.26.  The company's comparable diluted EPS outlook
for fiscal 2008, as set forth in the company's April 5, 2007,
news release, is unchanged.

                      About Matthew Clark

Matthew Clark -- http://www.matthewclark.co.uk/-- is the  
largest independent premier drinks supplier serving the U.K.'s
on-trade drinks industry. It offers customers a choice of wines,
spirits, FABs, beers, ciders and soft drinks that is unrivalled
in the U.K. for breadth and value.  Matthew Clark has a customer
base of around 20,000 accounts and provides a full range of
drinks to its pub, club, hotel, and restaurant customers
throughout the U.K.  Matthew Clark was acquired by Constellation
Brands, Inc. in 1998.  Since that time, the business has rapidly
expanded into a dynamic service-orientated business with annual
net sales of approximately 500 million Pounds (approximately
US$925 million).  The business, with over 1,200 employees is
headquartered in Bristol and operates a national network of
regional distribution depots and a fleet of more than 200
vehicles with extensive reach across the British Isles.  It also
operates two purpose-designed contact centers located in Bristol
and Glasgow.

                    About Constellation Brands

Headquartered in Fairport, New York, Constellation Brands Inc.
(NYSE:STZ, ASX:CBR) -- http://www.cbrands.com/-- produces and  
markets beverage alcohol brands with a broad portfolio across
the wine, spirits and imported beer categories.  The company
also operates in the United Kingdom, Chile, Canada, Australia,
Japan, and New Zealand.

                          *     *     *

As reported in the Troubled Company Reporter on March 5, Moody's
lowered the company's corporate family rating and probability of
default rating to Ba3 from Ba2 after the company reported a new
US$500 million share repurchase program.  Moody's revised its
outlook to stable from negative.

Standard & Poor's Ratings Services lowered its ratings on
Constellation Brands, including its corporate credit and bank
loan ratings to 'BB-' from 'BB', with a stable outlook.

Fitch Ratings has downgraded Constellation Brands' issuer
default rating, bank credit facility, and senior unsecured notes
to 'BB-' from 'BB'.


CONSTELLATION BRANDS: Names Patty Yahn-Urlaub as Vice President
---------------------------------------------------------------
Constellation Brands Inc. has named Patty Yahn-Urlaub vice
president of investor relations, effective immediately.  

She succeeds Lisa Schnorr who was recently named vice president
of finance in the company's worldwide wine group.  Ms. Yahn-
Urlaub was previously associate director of investor relations
at Kodak in Rochester, N.Y. She will report to Tom Summer,
Constellation Brands chief financial officer.

"Patty's business and financial market insights and knowledge,
combined with her communication skills, strategic thinking and
solid experience, make her the ideal person to lead our investor
relations efforts," said Mr. Summer.  "She brings enthusiasm and
fresh perspectives to this position, and I am confident she will
be a valuable contributor to Constellation's future success with
the investment community in this key role."

Ms. Yahn-Urlaub began her career with Kodak in 1988 and served
in a variety of finance positions for Eastman Kodak Credit
Corporation, Kodak's health imaging division and the corporate
investor relations group. Prior to joining Kodak, she worked in
the banking industry as a commercial lending officer.  A native
of Rochester, N.Y., Ms. Yahn-Urlaub holds a B.B.A. degree in
accounting from St. Bonaventure University and an M.B.A. in
international finance from Schiller International University in
Heidelberg, Germany.

                    About Constellation Brands

Headquartered in Fairport, New York, Constellation Brands Inc.
(NYSE:STZ, ASX:CBR) -- http://www.cbrands.com/-- produces and  
markets beverage alcohol brands with a broad portfolio across
the wine, spirits and imported beer categories.  The company
also operates in the United Kingdom, Chile, Canada, Australia,
Japan, and New Zealand.

                          *     *     *

As reported in the Troubled Company Reporter on March 5, Moody's
lowered the company's corporate family rating and probability of
default rating to Ba3 from Ba2 after the company reported a new
US$500 million share repurchase program.  Moody's revised its
outlook to stable from negative.

Standard & Poor's Ratings Services lowered its ratings on
Constellation Brands, including its corporate credit and bank
loan ratings to 'BB-' from 'BB', with a stable outlook.

Fitch Ratings has downgraded Constellation Brands' issuer
default rating, bank credit facility, and senior unsecured notes
to 'BB-' from 'BB'.


DURA AUTOMOTIVE: Inks Technical Alliance with Indian Parts Maker
----------------------------------------------------------------
DURA Automotive Systems, Inc. entered into a technical alliance
with Aditya Auto Products and Engineering Pvt. Ltd., based in
Bangalore, India, to bring new automotive technologies to the
growing domestic Indian and Asian markets.  

DURA will supply technology to Aditya for the manufacture of
products such as pedals, parking brakes, shifters and spare tire
carriers.  Aditya will produce the parts and provide local
support to automotive OEMs in the region.  DURA and Aditya
anticipate that the alliance will commence manufacturing of DURA
components in India by the first quarter of 2008.

"Establishing a manufacturing presence in India is a key
component of our global growth strategy, which is designed to
leverage DURA technology investments and provide local support
to customers anywhere in the world," Larry Denton, DURA
Automotive's chief executive officer said.  "The DURA and Aditya
partnership opens significant opportunities for us in fast-
growing automotive markets."

By 2012, India is projected to be the seventh largest automobile
producer in the world.  The establishment of the alliance in
Bangalore, a major Indian market, also provides access to
neighboring Asian markets.

"Our alliance brings together Aditya's expertise in designing
and manufacturing systems with DURA's world-class technology to
meet the requirements of leading automakers in this region," C.
Jayaraman, Aditya's managing director and chief executive
officer, said.  "Combining our strengths will better position us
to participate in India's growing domestic automotive market and
beyond."

DURA will contribute designs, intellectual property and
technical resources.  Under the terms of the agreement, the
alliance is planned to become a joint venture in three years and
when certain milestones are achieved.  Once initiated, the joint
venture will operate under the name Aditya DURA Pvt. Ltd.

DURA currently has a presence in 16 countries with 69 locations,
including its manufacturing facilities, technology and customer
service centers, and joint venture companies.

                        About Aditya Auto

Headquartered in Bangalore, India, Aditya Auto Products &
Engineering India Private Limited -- http://www.adityaauto.com/
-- is a privately owned and professionally managed organization,
engaged in the business of design & manufacture of systems & sub
systems to meet the requirements of the growing automobile
industry.  Beginning as Autarky Auto in April 1989 and
established as Aditya Auto Products in February 1999, the
company works closely with leading Automotive OEMs & Global tier
1 industries, both in India and the rest of the world.

                 About DURA Automotive Systems Inc.

Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent   
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies,
structural door modules and exterior trim systems for the global
automotive industry.  The company is also a supplier of similar
products to the recreation vehicle and specialty vehicle
industries.  DURA sells its automotive products to North
American, Japanese and European original equipment manufacturers
and other automotive suppliers.

The Debtors filed for chapter 11 petition on Oct. 30, 2006
(Bankr. D. Delaware Case No. 06-11202).  Richard M. Cieri, Esq.,
Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan
Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel
for the Debtors' bankruptcy proceedings.  Mark D. Collins, Esq.,
Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors' co-
counsel.  Baker & McKenzie acts as the Debtors' special counsel.  
Togut, Segal & Segal LLP is the Debtors' conflicts counsel.  
Miller Buckfire & Co., LLC is the Debtors' investment banker.  
Glass & Associates Inc., gives financial advice to the Debtor.  
Kurtzman Carson Consultants LLC handles the notice, claims and
balloting for the Debtors and Brunswick Group LLC acts as their
Corporate Communications Consultants for the Debtors.  As of
July 2, 2006, the Debtor had $1,993,178,000 in total assets and
$1,730,758,000 in total liabilities.

The Debtors' exclusive plan-filing period expires on May 23,
2007.


FOOT LOCKER: Offers to Buy Genesco for US$1.2 Billion in Cash
-------------------------------------------------------------
Foot Locker, Inc., disclosed that it had made an acquisition
proposal to purchase all of the outstanding shares of Genesco
Inc. for US$46 per share in cash, subject to certain terms and
conditions.  

The proposal came in a letter that Matthew D. Serra, Foot
Locker, Inc.'s Chairman and CEO, sent on April 4, 2007 to Hal N.
Pennington, Chairman, President and Chief Executive Officer of
Genesco Inc.

On April 19, 2007, Mr. Serra sent a follow-up letter to Mr.
Pennington to reiterate Foot Locker, Inc.'s interest in
acquiring Genesco, Inc. and his belief that the proposal
represents significant value to Genesco shareholders.  The
proposed purchase price of US$46 per share in cash represents a
total consideration of approximately US$1.2 billion for all of
the equity of Genesco.  This proposal provides to Genesco Inc.'s
shareholders a 26% premium to the average share price during the
one-year period preceding the April 4, 2007 letter.

                         About Genesco Inc.

Headquartered in Nashville, Tennessee, Genesco Inc. (NYSE:GCO)
-- http://www.genesco.com/-- retails branded footwear, licensed  
and branded headwear, and wholesaler of branded footwear.  Its
business segments include Journeys, Underground Station Group,
Hat World, Johnston & Murphy, and Licensed Brands.  The Journeys
segment consists of the Journeys and Journeys Kidz retail
footwear chains.  The Underground Station Group segment includes
the Underground Station and Jarman retail footwear chains.  The
Hat World segment includes the Hat World, Lids, Hat Zone, Cap
Connection and Head Quarters retail headwear chains.  The
Johnston & Murphy segment includes Johnston & Murphy retail
operations, and wholesale distribution.  The Licensed Brands
segment is engaged in the wholesale distribution of footwear
manufactured under the Dockers and Perry Ellis brands, under
licenses from Levi Strauss & Company and PEI, Inc.  As of June
9, 2006, it operated a total of 1,773 stores: 1,755 stores
throughout the United States and Puerto Rico, and 18 stores in
Canada.

                        About Foot Locker

Headquartered in New York, Foot Locker, Inc. (NYSE: FL) ---
http://www.footlocker-inc.com/-- is a global retailer of  
athletic footwear and apparel, operated 3,942 primarily mall-
based stores in the United States, Canada, Europe, Australia,
and New Zealand as of Feb. 3, 2007.

The Company, through its subsidiaries, operates in two segments:
Athletic Stores and Direct-to-Customers.  The Athletic Stores
segment is an athletic footwear and apparel retailer, whose
formats include Foot Locker, Lady Foot Locker, Kids Foot Locker,
Champs Sports and Footaction.  The Direct-to-Customers segment
reflects Footlocker.com, Inc., which sells, through its
affiliates, including Eastbay, Inc., to customers through
catalogs and Internet Websites.  The Foot Locker brand is the
Company's principal brand.  In March of 2006, Foot Locker, Inc.
entered into a 10-year area development agreement with the
Alshaya Trading Co. W.L.L., in which the Company agreed to enter
into separate license agreements for the operation of a minimum
of 75-foot Locker stores.


FOOT LOCKER: Moody's Reviews Ba1 Ratings Over Genesco Bid
---------------------------------------------------------
Moody's Investors Service placed the ratings of Foot Locker,
Inc. on review for possible downgrade following the company's
announcement that it had made an unsolicited proposal to
purchase all of the outstanding shares of Genesco Inc. for US$46
per share cash representing a total consideration of
approximately US$1.2 billion.

These ratings are placed on review for possible downgrade:

    * Corporate family rating of Ba1;
    * Probability of default rating of Ba1;
    * Senior unsecured notes rating of Ba1.

The senior unsecured notes current LGD assessment of LGD4-60% is
subject to change as a result of the review for possible
downgrade.

The review is prompted by the high likelihood that the
acquisition, if successful, will be predominantly financed with
debt and will result in a sizable increase in the pro forma
company's leverage and a corresponding weakening in credit
metrics.  In addition the review is prompted by the apparent
change that this action signals to the company's financial
policy, which had historically viewed as relatively conservative
and stable by Moody's and had supported the current Ba1
corporate family rating.  The review will focus on the pro forma
company's capital structure and debt protection measures post
transaction; its financial policies, including its risk appetite
for acquisitions and liquidity; and the pro forma company's
ability to manage its expected higher debt burden.  If the bid
is unsuccessful, the review for possible downgrade will assess
Foot Locker's appetite for leverage and future debt financed
growth strategies.

Foot Locker, Inc., headquartered in New York, New York operates
4,000 stores in 20 countries in North America, Europe, and
Australia under the nameplates; Foot Locker, Footaction, Lady
Foot Locker, Kids Foot Locker, Champs Sports and Footquarters.  
Revenues for the fiscal year ended February 3, 2007 were
approximately US$5.8 billion.

Genesco Inc., headquartered in Nashville, Tennessee, operates
2,009 footwear and headwear stores throughout the United States
and in Puerto Rico and Canada.  In addition, Genesco also is a
wholesaler of branded footwear.  Revenues for the fiscal year
ended February 3, 2007 were approximately $1.5 billion.  Pro
forma revenues of the combined companies would be approximately
US$7.2 billion.


ISLE OF CAPRI: Posts US$9.5 Mil. Net Loss in Qtr Ended Jan. 28
--------------------------------------------------------------
Isle of Capri Casinos Inc. reported a net loss of US$9.5 million
for the third quarter ended Jan. 28, compared with net income of
US$4.2 million for the same period ended Jan. 22, 2006.

Gross revenues for the fiscal quarter ended Jan 28, were
US$280.5 million, which included US$233.2 million of casino
revenue, US$10 million of room revenue, US$5.1 million of pari-
mutuel commissions, and US$32.3 million of food, beverage and
other revenue.  This compares to gross revenues for the fiscal
quarter ended Jan. 22, 2006, of US$272.8 million, which included
US$235 million of casino revenue, US$6.2 million of room
revenue, US$4.4 million of pari-mutuel commissions and US$27.3
million of food, beverage and other revenue.

Promotional allowances increased US$5.9 million, or 13.4%, in
fiscal quarter ended Jan. 28, as compared to the prior year
quarter, primarily due to Isle-Biloxi being open for only one
month of the fiscal quarter ended Jan. 22, 2006, related to the
impact of Hurricane Katrina.

Operating results for the third quarter of fiscal 2007 include
some significant additional expenses, some of which will not be
recurring, as compared to the third quarter of fiscal 2006.  
These include an increase of approximately US$4.5 million in
property insurance expense over the prior year's third quarter
and approximately US$1.5 million of stock compensation expense.  
Pre-opening costs increased US$3 million compared to the third
quarter of fiscal 2006 primarily due to costs related to casino
developments in Pompano Beach, Florida; Waterloo, Iowa, and
Coventry, England.

Marketing and administrative expenses increased US$12.9 million,
or 17.0%, compared to the fiscal quarter ended Jan. 22, 2006.  
The increase is primarily related to Isle-Biloxi being open for
only one month of the prior year fiscal quarter due to Hurricane
Katrina and the closure of Pompano Park in Florida for 18 live
race dates in the prior year fiscal quarter due to Hurricane
Wilma.

Net interest expense for the quarter increased US$3.9 million or
21.7% compared with fiscal quarter ended Jan. 22, 2006, mainly
as a result of the reversal of interest income previously
recorded in relation to the lease on the Coventry arena, higher
interest rates and higher debt balances on the company's senior
secured credit facility partially offset by higher interest
income.

At Jan. 28, the company had cash and cash equivalents and
marketable securities of US$146.9 million compared to US$138.6
million at Apr. 30, 2006, the end of the company's last fiscal
year.  The US$8.3 million increase in cash and cash equivalents
is the net result of US$44.4 million net cash provided by
operating activities, US$24.3 million net cash used in investing
activities and US$11.1 million net cash used in financing
activities.  The company also had US$2.6 million of restricted
cash as of Jan. 28.  

In addition, as of Jan. 28, the company had US$413.8 million of
capacity under the lines of credit and available term debt which
consisted of US$381 million in unused credit capacity under the
revolving loan commitment on the company's senior secured credit
facility, US$28.6 million of unused credit capacity under the
Isle-Black Hawk's senior secured credit facility and US$4.2
million under other lines of credit and available term debt.  

At Jan. 28, the company's balance sheet showed
US$1,880.4 million in total assets, US$1,555.7 million in total
liabilities, US$27.2 million in minority interest, and
US$297.4 million in total stockholders' equity.

Full-text copies of the company's consolidated financial
statements for the third quarter ended Jan. 28, 2007, are
available for free at http://researcharchives.com/t/s?1d8f

                       About Isle of Capri

Based in Biloxi, Miss., Isle of Capri Casinos Inc. (Nasdaq:
ISLE) -- http://www.islecorp.com/-- owns and operates casinos  
in Biloxi, Lula and Natchez, Mississippi; Lake Charles,
Louisiana; Bettendorf, Davenport and Marquette, Iowa; Kansas
City and Boonville, Missouri and a casino and harness track in
Pompano Beach, Florida.  The company also operates and has a 57
percent ownership interest in two casinos in Black Hawk,
Colorado.  Isle of Capri Casinos' international gaming interests
include a casino that it operates in Freeport, Grand Bahama and
a two-thirds ownership interest in casinos in Dudley and
Wolverhampton, England.

                          *     *     *

Moody's Investors Service affirmed its Ba3 Corporate Family
Rating on Isle of Capri Casinos in connection with its
implementation of the new Probability-of-Default and Loss-Given-
Default rating methodology for the Gaming, Lodging & Leisure
sector.  Moody's assigned LGD ratings to four of the company's
debts including a LGD5 rating on its 9% Sr. Sub. Notes,
suggesting debt holders will experience a 76% loss in the event
of a default.

As reported in the Troubled Company Reporter on Nov. 8, 2006,
Standard & Poor's Ratings Services affirmed ratings on Isle of
Capri Casinos Inc., including its 'BB-' corporate credit rating.

At the same time, Standard & Poor's removed the ratings from
CreditWatch, where they were placed on Oct. 4, 2006, with
negative implications.  The outlook is stable.


LYONDELL CHEMICAL: Fitch Puts B Rating on Sr. Subordinated Notes
----------------------------------------------------------------
Fitch Ratings affirmed Lyondell Chemical Company's Issuer
Default Rating at 'BB-'.  In addition, Fitch affirmed these
ratings for the company:

   -- Senior secured credit facility and term loan at 'BB+';
   -- Senior secured notes at 'BB+';
   -- Senior unsecured notes at 'BB-';
   -- Senior subordinated notes at 'B'.

At the same time, Fitch lowered the rating of Lyondell's
US$100 million, 10.25% debentures due 2010 and US$225 million,
9.8% debentures due 2020 to 'BB-' from 'BB+'.

Approximately US$5 billion of debt is covered by these actions
and the Rating Outlook remains Positive.

The two-notch downgrade of the Lyondell debentures reflects its
junior ranking to existing secured debt and equal ranking with
existing and future senior unsecured debt.  Under the indentures
for these debentures, it is required that the debentures be
equally and ratably secured with any debt that is secured by
certain manufacturing plants.  There are currently no qualifying
manufacturing plants securing other debt and therefore the
debentures are unsecured.

The rating affirmation of Lyondell's other ratings is supported
by better than expected cash generation from operations and debt
repayment.  In addition, Fitch expects debt reduction to
continue and potentially accelerate later in 2007 with a
successful completion of the pending sale of its Inorganics
business.  The recent tender for its outstanding 11-1/8% senior
secured notes and consent solicitation for the 10-1/2% senior
secured notes illustrates Lyondell's strong effort to repay debt
early instead of allowing cash to build and repay maturities as
they come due as well as improve its financial flexibility.  The
ratings also consider Lyondell's size, high integration of
businesses, liquidity, and access to capital markets.

The Positive Outlook reflects the likelihood that Lyondell will
be able to accelerate its debt reduction efforts in the next 12-
18 months.  Additionally, supply/demand fundamentals continue to
be favorable for most of Lyondell's products.  Fitch also
expects energy and raw material prices will continue to be
volatile although these prices on average are expected to trend
lower. Continued strong operations from petrochemical and
refining operations are likely to offset other cyclical
businesses within the portfolio.

Lyondell holds leading global positions in propylene oxide and
derivatives, plus TiO2, as well as leading North American
positions in ethylene, propylene, polyethylene, aromatics,
acetic acid, and vinyl acetate monomer.  The company also has
substantial refining operations located in Houston, Tex.  The
company benefits from strong technology positions and barriers
to entry in its major product lines.  Lyondell owns 100% of
Equistar; 70.5% directly and 29.5% indirectly through its wholly
owned subsidiary Millennium.  In 2006, Lyondell and subsidiaries
generated US$2.55 billion of EBITDA on US$22.2 billion in sales.

Headquartered in Houston, Texas, Lyondell Chemical Company
(NYSE: LYO) -- http://www.lyondell.com/-- is North America's  
third-largest independent, publicly traded chemical company.  
Lyondell manufacturers basic chemicals and derivatives including
ethylene, propylene, titanium dioxide, styrene, polyethylene,
propylene oxide and acetyls.  It also refines heavy, high-sulfur
crude oil and produces gasoline-blending components.  It
operates on five continents and employs approximately 11,000
people worldwide.  The company has locations in Australia,
China, Japan, France, Germany, United Kingdom, among others.

                           *     *     *

Fitch Ratings affirmed Lyondell Chemical Company's issuer
default rating at 'BB-'; senior secured credit facility at
'BB+'; and senior secured notes and debentures at 'BB+'.  At the
same time,  Fitch downgraded Lyondell's senior subordinated
notes rating to 'B' from 'B+' and assigns a 'BB+' rating to
Lyondell's US$800  million senior secured revolving credit
facility and US$2.65 billion senior secured term loan.


MEGA BRANDS: Moody's Reviews Ratings on Weak 2006 Performance
-------------------------------------------------------------
Moody's placed the Ba3 corporate family rating and other long-
term ratings of MEGA Brands, Inc. on review for possible
downgrade after the company announced weaker than expected
results for the fourth quarter of 2006 and for the full year.  
The speculative grade liquidity rating was affirmed at SGL-3

Ratings under review for possible downgrade:

  MEGA Brands Inc.

     -- Ba3 Corporate Family Rating

  MEGA Brands Inc.

     -- Ba2 rating on the 5-year revolving credit facility;
        LGD 2; 24%

  MEGA Blocks US

     -- Ba2 rating on the 5-year revolving credit facility;
        LGD 2; 24%

  MEGA Brands Inc.

     -- Ba2 rating on the US$40 million, 5-year term loan A
     facility; LGD 2; 24%

  MEGA Brands Finco

     -- Ba2 rating on the US$260 million 7-year term loan B
        facility; LGD 2; 24%

  MEGA Brands Inc.

     -- Probability of Default rating at B1

As a result of litigation, unexpectedly high costs related to
the redesign and shipping of Magnetix and other costs, and soft
sales in certain categories, earnings and cash flow for the year
were below Moody's expectations.  On a Moody's FM adjusted
basis, MEGA Brands EBITDA for the year reached US$86 million
versus Moody's expectation of over US$110 million and
Debt/EBITDA was 4.3 times versus Moody's expectation of closer
to 3 times.  The results were impacted by a number of one-time
charges and special expenses and some amounts may be
recoverable.

The review will focus on the prospects for a rebound of business
results in 2007, likely recovery of insurance proceeds for
amounts paid out related to product liability litigation and
settlement, the possibility of further product liability costs
in 2007 and beyond, the timing of the US$57 million earn-out
payment to Rose Arts, and the impact of the company's decision
to self insure on certain Magnetix products, for which product
replacement programs have been undertaken together with the US
consumer product safety commission.

The SGL-3 was affirmed based on Moody's continued expectation
for adequate near-term liquidity for the company.  Absent an
earn-out payment, which the company does not expect to make
before 2008, MEGA Brands' liquidity is supported by balance
sheet cash and availability under its US$120 million revolver,
offset by the seasonal nature of its cash flow which requires
reliance on its bank facility, the potential for limited
covenant cushion under its credit agreement, and its limited
alternative sources of liquidity.

Montreal, Canada-based Mega Brands Inc. fka Mega Bloks Inc. --
http://www.megabloks.com/-- distributes a range of toys,  
puzzles, and craft-based products worldwide.

The company has its European headquarters in Laagstraat,
Belgium.


RANK GROUP: Moody's Cuts Ratings on US$114.3-Million Notes to B2
----------------------------------------------------------------
Moody's Investors Service downgraded to B2 (from Ba3) the debt
ratings of the US$100-million guaranteed notes due 2008 and
US$14.3-million guaranteed notes due 2018 at Rank Group Finance
Plc.

The rating actions follow The Rank Group Plc's closing of
refinanced multicurrency term and revolving credit facilities
totaling GBP400-million, which incorporates upstreamed unsecured
guarantees from material subsidiaries and results in structural
subordination of the 2008 and 2018 notes.  The notes formally
ranked pari passu with the term and revolving credit facilities.

Moody's new Loss Given Default methodology was applied in
assessing the revised financing structure.  Under the
methodology the change in the ratings for the notes was driven
by the introduction of a senior ranking position for the term
and revolving credit facilities in the priority of claims
waterfall relative to the notes, together with the material
amount of the higher ranking debt in the overall capital
structure.

According to the Loss Given Default methodology, Moody's has
also assigned:

   -- a probability of default rating of Ba3 to the corporate
      family; and

   -- an LGD assessment of LGD5 and an LGD rate of 84% to the
      2008 and 2018 notes.

The Ba3 corporate family rating and Negative outlook are not
affected.

Affected ratings are as follows:

   -- A probability of default rating of Ba3 has been assigned
      to Rank.

   -- The rating on the US$100 million Guaranteed notes due
      2008 at Rank Group Finance (guaranteed by Rank) downgraded
      to B2 from Ba3.  An LGD5 and 84% LGD rate has been
      assigned.

   -- The rating on the US$14.3 million Guaranteed notes due
      2018 at Rank Group Finance (guaranteed by Rank) downgraded
      to B2 from Ba3.  An LGD5 and 84% LGD rate has been
      assigned.

Rank is a gaming group with interests in casinos, bingo, online
and telephone betting, mainly in the U.K. but also Spain and
Belgium.  The company is based in London, England.  For the
fiscal year ended in December 2006 Rank reported net revenues of
around GBP530 million.


SEA CONTAINERS: Court OKs Conyers Dill as Bermuda Counsel
---------------------------------------------------------
The Official Committee of Unsecured Creditors of Sea Containers  
Ltd. and Sea Containers Caribbean, Inc. obtained permission from
the U.S. Bankruptcy Court for the District of Delaware to employ
Conyers Dill & Pearman as its Bermuda counsel, nunc pro tunc to
Oct. 26, 2006.

Conyers Dill is expected to:

   (a) advise the SCL Committee with respect to its rights,
       duties, and powers in these cases;

   (b) assist and advise the SCL Committee in its consultations  
       with the Debtors relative to the administration of the  
       Chapter 11 cases;

   (c) assist the SCL Committee in analyzing the claims of the  
       Debtors' creditors in negotiating with such creditors;

   (d) represent the SCL Committee at all hearing and other  
       proceedings with regard to Bermuda law;

   (e) interface and coordinate with the provisional liquidators
       and any analogous parties that may be appointed under the  
       law of various jurisdictions;

   (f) appear before the Bermuda Supreme Court, the Bermuda
       Court of Appeal, Bermuda Magistrate Courts and Bermuda  
       regulatory bodies and protect the interests of the SCL
       Committee before the courts and regulators;

   (g) review and analyze all applications, orders, statements   
       of operations and schedules filed with Bermuda courts and  
       advise the SCL Committee as to their property;

   (h) attend the meetings of the SCL Committee, if requested;  

   (i) advise as required on issues of Bermuda corporate law and  
       governance with respect to SCL to the extent requested by  
       the SCL Committee; and

   (j) perform other legal services as may be required and are  
       deemed to be in the interests of the SCL Committee in  
       accordance with its powers and duties as set forth in the  
       Bankruptcy Code.

Conyers Dill's professional services will be paid based on its
standard hourly rates:

      Designation                      Hourly Rate
      -----------                      -----------
      Partners                       US$420 - US$650
      Counsel and Associates         US$300 - US$600

Conyers Dill attorneys principally responsible for the matters
in the Chapter 11 cases and their fees are:

      Professional                     Hourly Rate
      ------------                     -----------
      Narinder Hargun, Esq.          US$600 - US$650
      David Cooke, Esq.              US$605 - US$635
      Robin Mayor, Esq.              US$575 - US$600
      Paul Smith, Esq.               US$575 - US$600
      Angela Atherden, Esq.          US$315 - US$345
      Jennifer Haworth, Esq.         US$250 - US$300

Robin J. Mayor, Esq., an attorney at Conyers Dill, assures the
Court that her firm is a "disinterested person" as that term is
defined in Section 101 (14) of the Bankruptcy Code.

                      About Sea Containers

Based in Hamilton, Bermuda, Sea Containers Ltd. --
http://www.seacontainers.com/-- provides passenger and freight     
transport and marine container leasing.  Registered in Bermuda,
the company has regional operating offices in London, Genoa, New
York, Rio de Janeiro, Sydney, and Singapore.  The company is
owned almost entirely by United States shareholders and its
primary listing is on the New York Stock Exchange (SCRA and
SCRB) since 1974.  On Oct. 3, the company's common shares and
senior notes were suspended from trading on the NYSE and NYSE
Arca after the company's failure to file its 2005 annual report
on Form 10-K and its quarterly reports on Form 10-Q during 2006
with the U.S. Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the U.S.

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).   
Edmon L. Morton, Esq., Edwin J. Harron, Esq., Robert S. Brady,
Esq., Sean Matthew Beach, Esq., and Sean T. Greecher, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in
their restructuring efforts.

The Official Committee of Unsecured Creditors and the Financial
Members Sub-Committee of the Official Committee of Unsecured
Creditors of Sea Containers Ltd. is represented by William H.
Sudell, Jr., Esq., and Thomas F. Driscoll, Esq., at Morris,
Nichols, Arsht & Tunnell LLP.  Sea Containers Services, Ltd.'s
Official Committee of Unsecured Creditors is represented by
attorneys at Willkie Farr & Gallagher LLP.

In its schedules filed with the Court, Sea Containers Ltd.
disclosed total assets of $62,400,718 and total liabilities of
$1,545,384,083.  The Debtors' exclusive period to file a chapter
11 plan of reorganization expires on June 12, 2007.


SEA CONTAINERS: Services Committee Can Hire Pepper Hamilton
-----------------------------------------------------------
The Official Committee of Unsecured Creditors of Sea Containers
Services, Ltd. and its debtor-affiliates obtained authority from
the Honorable Kevin J. Carey of the U.S. Bankruptcy Court for
the District of Delaware to employ Pepper Hamilton LLP as its
Delaware counsel, nunc pro tunc to Jan. 26, 2007.

The Official Services Committee represents the interests of Sea
Containers 1983 Pension Scheme and Sea Containers 1990 Pension
Scheme in the Debtors' bankruptcy cases.

David B. Stratton, Esq., and David M. Fournier, Esq., partners
in the firm, and James C. Carignan, Esq., an associate, are
expected to do the primary work for Pepper Hamilton.

Pepper Hamilton is expected to:

   (a) assist Willkie Farr & Gallagher LLP in representing the
       Services Committee;

   (b) advise the Services Committee with respect to its rights,
       duties, and powers in the Debtors Chapter 11 cases;

   (c) assist and advise the Services Committee in its
       consultations with the Debtors, other committees and
       other parties-in-interest, relating to the administration    
       of the Debtors' bankruptcy cases;

   (d) assist the Services Committee in analyzing the claims of
       Services' creditors and capital structure and in
       negotiating with the holders of claims, and if
       appropriate, equity interests;

   (e) assist in the Services Committee's investigation of the
       acts, conduct, assets, liabilities, and financial
       condition of the Debtors and other parties involved with
       the Debtors, and the Debtors' business operation;

   (f) assist the Services Committee in analyzing intercompany
       transactions;

   (g) assist the Services Committee in its analysis of, and
       negotiations, with the Debtors or any other third party
       concerning matters related to, among other things, the
       assumption or rejection of certain leases of non-
       residential real property and executory contracts, asset
       dispositions, financing of other transactions and the
       terms of a plan of reorganization for the Debtors;

   (h) assist and advise the Services Committee as to its
       communications, if any to the general creditor body
       regarding significant matters in the Chapter 11 cases;

   (i) represent the Services Committee at all hearing and other
       proceedings;

   (j) review, analyze, and advise the Services Committee with
       respect to all applications, orders, statements of
       operations, and schedules filed with the Court;

   (k) assist the Services Committee in preparing pleadings and
       applications as may be necessary in furtherance of its
       interests and objectives; and

   (l) perform other services as may be required and are deemed
       to be in the interests of the Services Committee in
       accordance with its powers and duties as set forth in the
       Bankruptcy Code.

Pepper Hamilton's services will be paid based on the firm's
customary hourly rates:

      Designation                               Hourly Rate
      -----------                               -----------
      Partners, Special Counsel, and Counsel  US$385 - US$575
      Associates                              US$210 - US$350
      Paraprofessionals                       US$135 - US$190

Mr. Stratton assures the Court that his firm "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

                      About Sea Containers

Based in Hamilton, Bermuda, Sea Containers Ltd. --
http://www.seacontainers.com/-- provides passenger and freight  
transport and marine container leasing.  Registered in Bermuda,
the company has regional operating offices in London, Genoa, New
York, Rio de Janeiro, Sydney, and Singapore.  The company is
owned almost entirely by United States shareholders and its
primary listing is on the New York Stock Exchange (SCRA and
SCRB) since 1974.  On Oct. 3, the company's common shares and
senior notes were suspended from trading on the NYSE and NYSE
Arca after the company's failure to file its 2005 annual report
on Form 10-K and its quarterly reports on Form 10-Q during 2006
with the U.S. Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the U.S.

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).  
Edmon L. Morton, Esq., Edwin J. Harron, Esq., Robert S. Brady,
Esq., Sean Matthew Beach, Esq., and Sean T. Greecher, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in
their restructuring efforts.

The Official Committee of Unsecured Creditors and the Financial
Members Sub-Committee of the Official Committee of Unsecured
Creditors of Sea Containers Ltd. is represented by William H.
Sudell, Jr., Esq., and Thomas F. Driscoll, Esq., at Morris,
Nichols, Arsht & Tunnell LLP.  Sea Containers Services, Ltd.'s
Official Committee of Unsecured Creditors is represented by
attorneys at Willkie Farr & Gallagher LLP.

In its schedules filed with the Court, Sea Containers Ltd.
disclosed total assets of US$62,400,718 and total liabilities of
US$1,545,384,083.  The Debtors' exclusive period to file a
chapter 11 plan of reorganization expires on June 12, 2007.


SOLUTIA INC: Court Approves 2007 Annual Incentive Program
---------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
approved on April 11 the implementation of the 2007 Solutia
Annual Incentive Program, approved amendments to the employment
agreements with Solutia's senior executive officers and approved
an increase in compensation for Jeffry N. Quinn, Solutia's
President, Chief Executive Officer, and Chairman of the Board.

            The 2007 Solutia Annual Incentive Program

The 2007 Solutia Annual Incentive Program is Solutia's annual
incentive-based bonus opportunity that applies to almost all of
Solutia's employees, including its executive officers.  Each
participant in the 2007 AIP has a set target bonus.  Target
bonuses are based upon both external and internal considerations
and payouts are set as a percentage of annual base salary and
vary by participant level in the organization.  Solutia's named
executive officers included in the Summary Compensation Table of
Solutia's Annual Report on Form 10-K for the fiscal year ended
Dec. 31, 2006, have target bonus opportunities for the 2007 AIP
as set forth in their respective employment agreements.

The 2007 AIP is based upon a bonus pool concept.  There are
separate bonus pools for enterprise-level participants and
business unit participants.  The Executive Compensation and
Development Committee of Solutia's Board of Directors
established financial and operating performance metrics for the
enterprise and for each business unit and a weighting for each
metric, including EBITDAR (75%) and Enterprise Average Working
Capital (as defined in the 2007 AIP) for the enterprise pool.
For each metric, a threshold (0.50x), target (1.0x), and maximum
(3.0x) funding level is determined by the ECDC.  These funding
levels are referred to as funding factors.  If the threshold
performance level is not met with respect to any particular
performance metric there is no funding of the bonus pool with
respect to that metric.  The target level funding or a 1.0x
funding factor is the aggregate of all target bonuses for
participants in the 2007 AIP.  At the end of the year, the
performance of Solutia and its business units is measured
against the pre-established metrics and the ECDC determines the
funding factor for each bonus pool.  Once the bonus pools are
established, individual bonuses are determined as part of
Solutia's performance management process.

Individual bonuses are comprised of an objective portion and a
subjective portion.  Forty-five percent (45%) of each bonus pool
is paid out on a straight objective basis to participants in
that pool based upon enterprise or business unit performance,
depending on the pool.  This is the objective portion of a
participant's bonus.  Forty-five percent (45%) of each bonus
pool is allocated to individual participants within the pool
based upon individual performance versus set goals and
individual performance versus peer performance.  The remaining
ten percent (10%) of each bonus pool is aggregated to constitute
an enterprise discretionary pool, which can be allocated to any
participant in the 2007 AIP.  Allocations from these
discretionary funds constitute the discretionary portion of a
participant's bonus.

Each participant's target bonus is multiplied by the relevant
funding factor (the same funding factor that was used to
determine the size of the bonus pool from which the
participant's bonus is paid).  The sum of all performance
adjusted target bonuses for all participants in one of the bonus
pools equals the total bonus pool.  The discretionary portion of
an individual's bonus can range from zero upward, which is
limited only by the total funding of the relevant bonus pool.
The aggregate of all bonuses paid from each of the bonus pools
cannot exceed the amount of the pool, except any discretionary
bonus paid to Mr. Quinn in excess of 50% of his performance
adjusted target bonus will not, at the discretion of the ECDC,
diminish the pool available for bonuses to other participants.

The 2007 AIP also includes a bankruptcy emergence metric for all
of the NEO's and certain other executives that is designed to
incent such executives for Solutia to promptly emerge from
Chapter 11 while maximizing the value of the bankruptcy estates.  
Each Emergence Metric Employees' actual bonus awarded under the
2007 AIP will be multiplied by a factor based on the date
Solutia emerges from Chapter 11.  The factor decreases each
quarter of 2007 and certain executive's bonuses are penalized in
the event the Company does not emerge from Chapter 11 during
2007.

The 2007 AIP is administered by the ECDC.  Awards under the 2007
AIP, including those based on the emergence metric, will be paid
within two and one-half months following the end of the year.
Emergence Metric Employees will be entitled to the Emergence
Bonus even if their employment is terminated (voluntarily or
involuntarily) on or after the Emergence Date, or if they are
terminated without Cause (as defined in their respective
employment agreements) prior to the Emergence Date.

            Executive Officer Employment Agreements

On April 11, upon Bankruptcy Court approval, Solutia entered
into amended and restated employment agreements with its NEO's
and other executive officers effective as of Jan. 1.  The
Agreements have been amended to extend the term of employment
for each of the Executive's to the six-month anniversary of the
Emergence Date, and provide for an automatic three-year renewal
of the employment period after the Initial Term and automatic
12-month renewals thereafter.  In addition, the Agreement with
Mr. Quinn reflects an increase in base salary to US$825,000
effective as of Jan. 1.  The Agreement with James R. Voss, one
of Solutia's NEO's, reflects an increase in base salary to
US$400,000 and a target bonus opportunity increase from 75% to
100% of his base salary in connection with his new position as
the Company's Senior Vice President and President-Flexsys.  
Solutia also entered into an employment agreement with Robert T.
DeBolt in connection with his new position as the Company's
Senior Vice President of Business Operations.  Mr. DeBolt's
Agreement reflects a base salary of US$300,000 while his target
bonus opportunity will be 75% of his base salary.  Mr Voss' and
Mr. DeBolt's new positions will be effective upon the closing of
the Flexsys Acquisition.

The Agreements provide that if any Executive is terminated other
than for Cause or the Executive terminates employment for Good
Reason, the Executive shall be entitled to receive from Solutia
payment of the following:

(1) the sum of

      (i) the Executive's accrued annual base salary through the
          date of termination,

     (ii) any unpaid annual bonus amounts earned with respect to
          the previous year, and
    
    (iii) any accrued vacation pay;

(2) an amount equal to what the Executive would have received
     under Solutia's Annual Incentive Program for the fiscal
     year of such termination prorated based on the number of
     days employed during that fiscal year;

(3) a severance payment equal to 200% of the sum of

      (i) the Executive's annual base salary immediately prior
          to the date of termination and

     (ii) the average annualized payment he received for the
          three most recent years under Solutia's Annual
          Incentive Program; and

(4) any unpaid portion of the special emergence bonus
     provided for in the Agreements, if applicable.

If the Executive's employment is terminated other than for Cause
or the Executive terminates employment for Good Reason upon a
Change in Control, or at any time within 24 months after a
Change in Control, he or she will be entitled to receive the
payments described above, provided however, that (1) the
severance payment will be equal to 250% (as opposed to 200%) of
the sum described in (3) above, and all outstanding equity
awards granted pursuant to any equity compensation plans in
effect will immediately vest.   The Agreements also provide that
in the event taxes are imposed on the Executive, due to a
payment provided for under the Agreements, and such payment
results in taxes being imposed that would not normally be
imposed but for the occurrence of a Change of Control, Solutia
will provide a tax reimbursement and a gross up of such tax
reimbursement.

                       About Solutia Inc.

Headquartered in St. Louis, Missouri, Solutia, Inc.
(OTCBB:SOLUQ) -- http://www.solutia.com/-- with its  
subsidiaries, make and sell a variety of high-performance
chemical-based materials used in a broad range of consumer and
industrial applications.  The company filed for chapter 11
protection on Dec. 17, 2003 (Bankr. S.D.N.Y. Case No. 03-17949).
When the Debtors filed for protection from their creditors, they
listed US$2,854,000,000 in assets and US$3,223,000,000 in debts.

Solutia is represented by Richard M. Cieri, Esq., at Kirkland &
Ellis.  Daniel H. Golden, Esq., Ira S. Dizengoff, Esq., and
Russel J. Reid, Esq., at Akin Gump Strauss Hauer & Feld LLP
represent the Official Committee of Unsecured Creditors, and
Derron S. Slonecker at Houlihan Lokey Howard & Zukin Capital
provides the Creditors' Committee with financial advice.

In February 2007, the Honorable Prudence Carter Beatty entered a
bridge order extending the Debtors' exclusive period to file a
plan until April 30, 2007.


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

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

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


BELGIUM
-------
City Hotels               CITY.BR     (7)         210      (15)
Hamon S.A.                HAMO       (12)         236      (58)
Sabena S.A.                          (86)       2,215     (297)


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


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


FRANCE    
------
Acces Industrie                       (8)         106      (35)
Arbel                     PA.ARB     (116)        194      (94)
Banque Nationale
   de Paris Guyane        BNPG       (41)         352      N.A.
BSN Glasspack                       (101)       1,151      179
Charbo De France                  (3,872)       4,738   (2,868)
Compagnie Francaise de
   l'Afrique Occidentale             (65)         256       21
Dollfus Mieg & Cie S.A.   DS         (16)         143      (45)
Euro Computer System                (110)         682      377
Genesys S.A.              GNS.PA     (10)         120       (5)
Grande Paroisse S.A.                (927)         629      330
Immob Hoteliere                      (65)         259       10
Labo Dolisos              DOLI.PA    (28)         110      (33)
Matussiere et Forest S.A. MTF        (78)         294      (28)
Oeneo S.A.                SABT.PA    (12)         292       38
Pneumatiques Kleber S.A.             (34)         480      139
Rhodia S.A.               RHA       (788)       6,681      171
SDR Centrest                        (132)         252      N.A.
SDR Picardie                        (135)         413      N.A.
Selcodis S.A.             SPVX       (18)         128       22
Soderag                               (3)         404      N.A.
Sofal S.A.                          (305)       6,619      N.A.
Spie-Batignolles                     (16)       5,281       75
St Fiacre (FIN)                       (1)         111      (33)
Teamlog                   TLO        (19)         109       (3)
Trouvay Cauvin                        (0)         134       10
Usines Chausson                      (23)         249       35


GERMANY
-------
Cognis Deutschland
   GmbH & Co. KG                    (174)       3,003      606
Dortmunder
   Actien-Brauerei        DABG       (13)         118      (29)
EM.TV AG                  EV4G.BE    (22)         849       15
F.A. Guenther & Son AG    GUSG        (8)         111      N.A.
Kaufring AG               KAUG       (19)         151      (51)
Maternus Kliniken AG      MAK.F       (3)         207      (30)
Nordsee AG                            (8)         195      (31)
Plambeck Neue
   Energien AG            PNE3        (4)         141        6
Primacom AG               PRIG      (268)       1,257   (1,048)
Rinol AG                  RLIG       (64)         104      (15)
Schaltbau Hold            SLTG       (22)         162       (4)
SinnLeffers AG            WHGG        (4)         454     (145)
Spar Handels- AG          SPAG      (442)       1,433     (234)
Vivanco Gruppe                       (33)         132      (45)


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

HUNGARY
-------
Exbus Asset Management
   Nyrt.                  EXBUS      (30)         118   (5,162)
IPK Osijek DD OS          IPKORA     (18)         190     (320)


ICELAND
-------
Decode Genetics Inc.      DCGN        (55)         216      141

ITALY
-----
Binda S.p.A.              BND        (11)         129      (20)
Cirio Finanziaria S.p.A.            (422)       1,583     (396)
Compagnia Italia          ICT       (138)         527     (235)
Credito Fondiario
   e Industriale S.p.A.             (200)       4,218      N.A.
Finpart S.p.A.                      (152)         732     (322)
Gruppo Coin S.p.A.        GC        (154)         800      (50)
I Viaggi del
   Ventaglio S.p.A.       VVE.MI     (61)         487      (57)
Olcese S.p.A.             OLCI.MI    (13)         180      (64)
Parmalat Finanziaria
   S.p.A.                        (18,419)       4,121  (12,481)
Technodiffusione
   Italia S.p.A.          TDIFF.PK   (90)         152      (24)
Wind Telecomunicazioni
   S.p.A.                            (10)      12,698     (815)


IRELAND
-------

Waterford Wed Ut          WTFU      (203)         828       190


LUXEMBOURG
----------

Millicum International    MICC       (59)       1,523         4


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


NORWAY
------
Petroleum-Geo Services    PGO        (32)       2,963   (5,250)
BW Offshore               BWO        (85)         487     (516)


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

ROMANIA
-------
Oltchim RM Valce          OLT        (45)         232     (321)
Rafo Onesti               RAF       (395)         359    (1695)


RUSSIA
------
OAO Samaraneftegas                  (332)         892  (16,942)
Zil Auto                            (185)         378  (11,107)
Vimpel Ship               SOVP       (77)         188     (927)


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


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


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


UKRAINE
-------
Dnepropetrovsk Metallurgical
   Plant Imeni Petrovsko  DMZP       (10)         358     (596)
Dniprooblenergo                      (38)         478     (797)
Donetskoblenergo                    (166)         706   (1,320)


UNITED KINGDOM
--------------
Abbott Mead Vickers                   (2)         168      (16)
AEA Technology Plc        AAT.L      (24)         340      (50)
Alldays Plc                         (120)         252     (202)
Amey Plc                             (49)         932      (47)
Anker Plc                 ANK.L      (22)         115       13
Atkins (WS) Plc           ATK        (63)       1,279       69
BCH Group Plc             BCH         (6)         188      (44)
Bonded Coach
   Holiday Group Plc                  (6)         188      (44)
Blenheim Group                      (153)         198      (34)
Booker Plc                BKRUY      (60)       1,298       (8)
Bradstock Group           BDK         (2)         269        5
Brent Walker Group        BWL     (1,774)         867   (1,157)
British Energy Ltd        523362Q (5,823)       4,921      290
British Energy Plc        BGY     (5,823)       4,921      434
British Nuclear
   Fuels Plc                      (4,248)      40,326      977
Britvic Plc               BVIC      (108)         874     (20)
Compass Group             CPG       (668)       2,972     (298)
Costain Group             COST      (108)         595      (61)
Danka Bus System          DNK.L     (108)         540       34
Dawson Holdings           DWN.L      (12)         158      (19)
Dignity Plc               DTY        (55)         552       36
Easynet Group             ESY.L      (45)         323       38
Electrical and Music              
   Industries Group       EMI     (1,264)       2,818     (253)
Euromoney Institutional
   Investor Plc           ERM.L      (50)         448      (67)
European Home Retail Plc  EHRL       (14)         111      (37)
Galiform Plc              GFRM      (152)         889       35
Gartland Whalley                     (11)         145       (8)
Global Green Tech Group             (156)         408      (18)
Gondola Holdings Plc      GND.L     (239)         987     (396)
Heath Lambert
   Fenchurch Group Plc               (10)       4,109      (10)
HMV Group Plc             HMV         (4)         948     (175)
HOGG Robinson Gr          HRG       (258)         791       (5)
Homestyle Group Plc       HME        (29)         409     (124)
Imperial Chemical
   Industries Plc         ICI       (370)       8,393        2
Invensys PLC                      (1,031)       3,875      523
IPC Media Ltd.                      (685)         254       16
Jarvis Plc                JRVS.L     (49)         307      (53)
Ladbrokes Plc             LAD     (1,227)       1,669     (267)
Lambert Fenchurch Group               (1)       1,827        3

Lattice Group                     (1,290)      12,410   (1,228)
Leeds United              LDSUF.PK   (73)         144      (29)
M 2003 Plc                        (2,204)       7,205     (756)
Manchester City                      (17)         154      (21)
Micro Focus
   International Plc      MCRO.L     (72)         129      (4)
Mytravel Group            MT.L      (380)       1,818     (488)
Orange Plc                ORNGF     (594)       2,902        7
Park Group Plc            PKG.L       (5)         111      (13)
Partygaming Plc           PRTY       (46)         398     (110)
Premier Farner Plc        PFL        (33)         964      127
Premier Foods Plc         PFD.L      (31)       1,475       16
Probus Estates Plc        PBE.L      (28)         113      (49)
Regus Plc                 RGU.L      (46)         367      (60)
Rentokil Initial Plc      RTO     (1,144)        3507     (457)
RHM Plc                   RHM       (586)       2,411       59
Saatchi & Saatchi         SSI       (119)         705      (41)
Seton Healthcare                     (11)         157        0
SFI Group                           (108)         178     (162)
Telewest
   Communications Plc     TLWT    (3,702)       7,581   (5,631)
UK Coal Plc               UKC        (25)         865      (62)
Virgin Mobile
   Holdings Plc           VMOB.L    (490)         155      (80)
Wincanton Plc             WIN        (66)       1,236      (71)

                           *********

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

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

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

Each Friday's edition of the TCR includes a review about a book
of interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

                           *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter -- Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  Jazel P. Laureno, Julybien Atadero, Carmel Zamesa
Paderog, Joy Agravante, Zora Jayda Zerrudo Sala, Kristina A.
Godinez, and Pius Xerxes Tovilla, Editors.

Copyright 2007.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
prior written permission of the publishers.

Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.

The TCR Europe subscription rate is US$625 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are US$25 each. For subscription
information, contact Christopher Beard at 240/629-3300.


                 * * * End of Transmission * * *