TCREUR_Public/070814.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, August 14, 2007, Vol. 8, No. 160

                            Headlines


A U S T R I A

DENTALLABOR ELMER: Wels Court Orders Business Shutdown
GLANTSCHNIG-EXOMAT: Claims Registration Period Ends Sept. 17
GRAF LLC: Claims Registration Period Ends Aug. 27
ING. POLSTER: Claims Registration Period Ends Sept. 13
PETKOVIC GORAN: Claims Registration Period Ends Sept. 13

TISCHLEREI H.STOEGERER: Claims Registration Period Ends Aug. 20
UHRENDISKONT.COM: Claims Registration Period Ends Aug. 22
WEMA - HOLZBAUTECHNIK: Claims Registration Ends Sept. 17
WERBEPRASENT WILLANDER: Claims Registration Period Ends Aug. 24


B E L G I U M

ADVANCED MICRO: Fitch Assigns CCC+ Rating on US$1.5-Bln Notes


F I N L A N D

QUEBECOR WORLD: S&P Places B+ Long-Term Corporate Credit Rating


F R A N C E

NYLSTAR INC: Chapter 11 Plan Gets Conditional Court Approval


G E R M A N Y

BUSCHE & SCHNEIDER: Creditors Must Register Claims by Aug. 22
CARMIX OSNABRUECK: Creditors Must Register Claims by Aug. 30
CON-TOURS VERWALTUNGS: Creditors' Meeting Slated for Oct. 4
DUERR AG: Earns EUR45,000 for First Half 2007
FABULJAN ENTERPRISES: Claims Registration Period Ends Oct. 9

GRISOU GASTSTATTEN: Claims Registration Ends Sept. 14
H & H COSMED: Claims Registration Ends Sept. 4
HANDWERKERPERSONAL GMBH: Claims Registration Period Ends Oct. 2
HARZER PALETTEN-KONTOR: Claims Registration Ends Aug. 29
HEIDMANN GARAGEN: Claims Registration Ends Sept. 3

HEILBRONN MASCHINENBAU: Creditors’ Meeting Slated for Sept. 6
HEINZE GMBH: Claims Registration Ends September 7
HISTORISCHE HOTELS: Claims Registration Ends September 7
HLL HEIMLIEFERLOGISTIK: Claims Registration Ends September 18
HUEDAVERDI WARENHANDELS: Claims Registration Ends August 31

INFO INFORMATIONS: Claims Registration Ends September 10
INSERVIO GESELLSCHAFT: Creditors’ Meeting Slated for October 12
INSUMMA PROJEKTGESELLSCHAFT: Creditors' Claims Due Sept. 1
J. WEBER: Creditors Must File Claims by September 7
JUERGENSEN LANDTECHNIK: Creditors Must File Claims by Sept. 25

K + S HOTELBETRIEB: Creditors Must File Claims by Sept. 4
KIRCHMEIER & BRUECK: Creditors Must Register Claims by Aug. 24
LHW LEBENSHILFE: Creditors Must Register Claims by Aug. 18
LO ZAPPA: Creditors’ Meeting Slated for September 3
M & M TRANSPORTLOGISTIK: Creditors Must File Claims by Aug. 24

MALER ROTH: Creditors Must File Claims by August 28
MEDIA COOPERATION: Creditors Must File Claims by Aug. 30
METALL-BAU: Claims Registration Period Ends Sept. 12
ML COMPUTERVERTRIEBS: Claims Registration Ends Sept. 7
S-CORE 2007-1: Moody's Rates Class E & F Notes at Low-B

STP GMBH: Claims Registration Period Ends Nov. 14
THUERINGER BAUMSCHMUCK: Claims Registration Ends Oct. 25


H U N G A R Y

AES CORPORATION: Earns US$247 Million in Second Quarter 2007
TIMKEN CO: Moody's Affirms Low-B Ratings on Improved Performance


I R E L A N D

CELESTICA INC: Appoints Craig Muhlhauser as President & CEO
SANYO ELECTRIC: In Talks w/ Sharp & Kyocera on Sale of Unit


I T A L Y

ALITALIA SPA: Air France-KLM Opens Door for Possible Talks
PARMALAT SPA: Says U.S. Cases Independent from Dismissed Suits
TEXCHEM RESOURCES: 2nd Qtr Profit Up on Gains from Unit Disposal
TITANIUM METALS: Earns US$76.3 Million in Second Quarter 2007


K A Z A K H S T A N

ABRIS LLP: Proof of Claim Deadline Slated for Sept. 18
AGRO SERVICE-ALLIANCE: Creditors Must File Claims Sept. 18
ENERGOMATERIAL: Claims Filing Period Ends Sept. 13
JAGUAR LLP: Creditors' Claims Due on Sept. 13
KAM CJSC: Claims Registration Ends Sept. 20

KUSTANAI-TEMIR LLP: Proof of Claim Deadline Slated for Sept. 13
S-EXPERT LLP: Creditors Must File Claims Sept. 12
VOSTOK LEASING: Claims Filing Period Ends Sept. 12


K Y R G Y Z S T A N

CHAN LLC: Proof of Claim Deadline Slated for September 27
INTOURIST LLC: Creditors Must File Claims by September 27


L U X E M B O U R G

HUNTSMAN CORP: Messrs. Matlin & Pechock Quit from Board
ELEKTRIM S.A.: Files Bankruptcy Petition in Warsaw Court


R O M A N I A

ABROM SA: Completes Six-Month Voluntary Liquidation Period


R U S S I A

B.@D. URALSK: Creditors Must File Claims by August 21
BALAKIREVO-WOOD CJSC: Creditors Must File Claims by Sept. 21
BEREZOVO LLC: Creditors Must File Claims by August 21
BREAD-SERVICE CJSC: Moscow Bankruptcy Hearing Slated for Oct. 25
BUILDER-TATARSTAN LLC: Names V. Staroverov as Insolvency Manager

COUNTRY-HALL OJSC: Creditors Must File Claims by September 21
ENERGO OJSC: Creditors Must File Claims by September 21
EURO-ASIAN INSURANCE: Court Starts Bankruptcy Supervision
INTEGRAL OJSC: Ulyanovsk Bankruptcy Hearing Slated for Sept. 6
ISTOCHNIK-3 LLC: Creditors Must File Claims by August 21

KARAKULSKOE CJSC: Asset Sale Slated for August 22
MOTOR-OIL LLC: Creditors Must File Claims by August 21
NIZHNEKISLYAYSKOE OJSC: Court Starts Bankruptcy Supervision
PRIAZOVYE CJSC: Creditors Must File Claims by September 21
VOLGOTANKER OAO: EUR3.34 Bln Tax Claim Sinks Firm to Bankruptcy

ZLATOUST-METAL-PRODUCT: Creditors Must File Claims by Aug. 21


S W I T Z E R L A N D

ARNOLD SCHMID: Schwyz Court Closes Bankruptcy Proceedings
CAFE CONFISERIE: Lucerne Court Closes Bankruptcy Proceedings
GUB IMMOBILIEN: Zug Court Closes Bankruptcy Proceedings
H. STEINMANN: Zug Court Closes Bankruptcy Proceedings
ITFABRIXX JSC: Zug Court Closes Bankruptcy Proceedings

JAGER UND BONDERER: Court Starts Bankruptcy Proceedings
PHORA JSC: Zug Court Closes Bankruptcy Proceedings
SLP - LOGISTIK: Creditors' Liquidation Claims Due October 13
TEAM BILAND: Creditors' Liquidation Claims Due September 17
UNION DATA: Solothurn Court Closes Bankruptcy Proceedings


U K R A I N E

AVANGARD STYLE: Creditors Must File Claims by August 15
COMBO-PROFI LLC: Creditors Must File Claims by August 15
EURO-UKRAINE LLC: Creditors Must File Claims by August 15
EUROSTANDARD LLC: Creditors Must File Claims by August 15
IB INDUSTRY: Creditors Must File Claims by August 15

INVEST TRADING: Creditors Must File Claims by August 15
IRIDA LLC: Creditors Must File Claims by August 15
MOBITEX LLC: Creditors Must File Claims by August 15
PHARMACY ELEGANT: Creditors Must File Claims by August 15
PROMCOMPLECT-SERVICE LLC: Creditors Must File Claims by Aug. 15


U N I T E D   K I N G D O M

ACTUANT CORP: Paying US$0.08 Per Share Dividend on Oct. 15
ADVANCED MICRO: Prices US$1.5 Bln of 5.75% Convertible Sr. Notes
ARUN AUTO: A. Clifton Leads Liquidation Procedure
BRITISH ENERGY: Expects Heysham Nuclear Reactor to be Up Soon
CENTRAL GARDEN: Earns US$15.5 Million in Third Quarter 2007

CMW ELECTRICAL: Brings In Liquidators from Tenon Recovery
EURO JEANS: Calls In Liquidators from Tenon Recovery
FHS FLOWERS: Taps Liquidators from Moore Stephens
FOPP LTD: Sells Brand & Six Stores to HMV for Undisclosed Sum
HMV GROUP: Buys Fopp's Brand & Six Stores for Undisclosed Sum

ISOFT GROUP: Set to Deliver LORENZO to CSC Early Next Year
NB RECRUITMENT: Appoints J. M. Titley as Liquidator
NORDENLIGHTS LTD: Taps Jeremy Woodside to Liquidate Assets
NUANCE COMMS: Prices US$220 Mln Offer of Sr. Conv. Debentures
RICHBELL TECHNICAL: Hires Liquidators from Vantis

TASK SECURITY: Claims Filing Period Ends September 14
TEXTILEART STUDIO: Appoints Liquidators from Cooper Parry

* Large Companies with Insolvent Balance Sheet


                            *********


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


DENTALLABOR ELMER: Wels Court Orders Business Shutdown
------------------------------------------------------
The Land Court of Wels entered July 10 an order shutting down
the business of KEG Dentallabor Elmer (FN 148149t).

Court-appointed estate administrator Peter Heigenhauser
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. Peter Heigenhauser
         Wiesinger Strasse 3
         4820 Bad Ischl
         Austria
         Tel: 06132/25581
         Fax: 06132/25581 5
         E-mail: dr.peter.heigenhauser@aon.at

Headquartered in Bad Ischl, Austria, the Debtor declared
bankruptcy on July 4 (Bankr. Case No 20 S 88/07b).


GLANTSCHNIG-EXOMAT: Claims Registration Period Ends Sept. 17
------------------------------------------------------------
Creditors owed money by LLC Glantschnig-Exomat Absauganlagen &
Co KG (FN 63554 m) have until Sept. 17 to file written proofs of
claim to court-appointed estate administrator Christian Maurer
at:

         Mag. Christian Maurer
         Paris Lodron-Str. 3a
         5020 Salzburg
         Austria
         Tel: 0662-879998
         Fax: 0662-879998-20
         E-mail: office@smbi.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on Sept. 27 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Salzburg
         Room 221
         Second Floor
         Salzburg
         Austria

Headquartered in Salzburg, Austria, the Debtor declared
bankruptcy on July 11 (Bankr. Case No. 23 S 52/07b).


GRAF LLC: Claims Registration Period Ends Aug. 27
-------------------------------------------------
Creditors owed money by LLC Graf (FN 282918g) have until Aug. 27
to file written proofs of claim to court-appointed estate
administrator Helgar Georg Schneider at:

         Dr. Helgar Georg Schneider
         c/o Dr. Gerhard Preisl
         Reichsstrasse 5a
         6900 Bregenz
         Austria
         Tel: 05574/44943
         Fax: 05574/44943-3
         E-mail: kanzlei@preisl-schneider.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on Sept. 6 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Feldkirch
         Meeting Hall 14
         First Floor
         Feldkirch
         Austria

Headquartered in Bregenz, Austria, the Debtor declared
bankruptcy on July 17 (Bankr. Case No. 13 S 37/07g).  Gerhard
Preislg represents Dr. Schneider in the bankruptcy proceedings.


ING. POLSTER: Claims Registration Period Ends Sept. 13
------------------------------------------------------
Creditors owed money by LLC Ing. Polster Elektroanlagen (FN
108571p) have until Sept. 13 to file written proofs of claim to
court-appointed estate administrator Hans Rant at:

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

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:15 a.m. on Sept. 27 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 July 11 (Bankr. Case No. 6 S 86/07z).  Kurt Freyler
represents Dr. Rant in the bankruptcy proceedings.


PETKOVIC GORAN: Claims Registration Period Ends Sept. 13
--------------------------------------------------------
Creditors owed money by KEG Petkovic Goran (FN 256261f) have
until Sept. 13 to file written proofs of claim to court-
appointed estate administrator Annemarie Kosesnik- Wehrle at:

         Dr. Annemarie Kosesnik- Wehrle
         c/o Dr. Stefan Langer
         Oelzeltgasse 4/6
         1030 Vienna
         Austria
         Tel: 713 61 92
         Fax: 713 61 92 22
         E-mail: kanzlei@kosesnik-langer.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on Sept. 27 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 July 11 (Bankr. Case No. 6 S 88/07v).  Stefan Langer
represents Dr. Kosesnik- Wehrle in the bankruptcy proceedings.


TISCHLEREI H.STOEGERER: Claims Registration Period Ends Aug. 20
---------------------------------------------------------------
Creditors owed money by LLC Tischlerei H.Stoegerer (FN 110874a)
have until Aug. 20 to file written proofs of claim to court-
appointed estate administrator Elisabeth Hrastnik at:

         Dr. Elisabeth Hrastnik
         Hauptplatz 11
         Atrium
         Top 16A
         7400 Oberwart
         Austria
         Tel: 03352/31375
         Fax: 03352/31375-16
         E-mail: dr.hrastnik@utanet.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:30 a.m. on Sept. 3 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Eisenstadt
         Hall F
         Eisenstadt
         Austria

Headquartered in Markt Allhau, Austria, the Debtor declared
bankruptcy on July 13 (Bankr. Case No. 26 S 99/07x).


UHRENDISKONT.COM: Claims Registration Period Ends Aug. 22
---------------------------------------------------------
Creditors owed money by KEG Uhrendiskont.com (FN 240414a) have
until Aug. 22 to file written proofs of claim to court-appointed
estate administrator Wolfgang Klobassa at:

         Dr. Wolfgang Klobassa
         Conrad-von-Hoetzendorf-Strasse 15
         8570 Voitsberg
         Austria
         Tel: 03142/21 8 50
         Fax: 03142/21 8 50-6
         E-mail: insolvenz@ra-semlitsch-klobassa.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 2:40 p.m. on Sept. 6 for the
examination of claims.

The meeting of creditors will be held at:

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

Headquartered in Soeding, Austria, the Debtor declared
bankruptcy on July 17 (Bankr. Case No. 25 S 76/07z).


WEMA - HOLZBAUTECHNIK: Claims Registration Ends Sept. 17
--------------------------------------------------------
Creditors owed money by LLC WEMA - Holzbautechnik (FN 251684z)
have until Sept. 17 to file written proofs of claim to court-
appointed estate administrator Hans- Peter Neher  at:

         Dr. Hans- Peter Neher
         Schutzenbichl 4
         4820 Bad Ischl
         Austria
         Tel: 06132/28373
         Fax: 06132/28373-6
         E-mail: dr.neher@ihr-rechtsanwalt.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 1:40 p.m. on Sept. 27 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Wels
         Hall 101
         First Floor
         Maria Theresia Strasse 12
         Wels
         Austria

Headquartered in Mondsee, Austria, the Debtor declared
bankruptcy on July 11 (Bankr. Case No. 20 S 91/07v).


WERBEPRASENT WILLANDER: Claims Registration Period Ends Aug. 24
---------------------------------------------------------------
Creditors owed money by LLC Werbeprasent Willander (FN 230665p)
have until Aug. 24 to file written proofs of claim to court-
appointed estate administrator Michael Troethandl at:

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

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on Sept. 6 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Wiener Neustadt
         Room 15
         Wiener Neustadt
         Austria

Headquartered in Leobersdorf, Austria, the Debtor declared
bankruptcy on July 16 (Bankr. Case No. 10 S 75/07v).


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


ADVANCED MICRO: Fitch Assigns CCC+ Rating on US$1.5-Bln Notes
-------------------------------------------------------------
Fitch Ratings has assigned a 'CCC+/RR6' rating to Advanced Micro
Devices Inc.'s (NYSE: AMD) private placement of US$1.5 billion
5.75% convertible senior notes due 2012.  The 'CCC+/RR6' rating
also applies to up to US$225 million of additional notes issued
within the next 30 days to cover over-allotments.  The 'BB-/RR2'
rating on AMD's US$1.69 billion Term Loan B due 2010 is affirmed
and withdrawn, as the company will use net proceeds from today's
debt issuance, as well as available cash, to fully repay the
term loan.

These ratings are affirmed:

-- Issuer Default Rating (IDR) at 'B';
-- Senior unsecured debt at 'CCC+/RR6'.

The rating outlook remains negative.  Approximately US$4.1
billion of total debt, pro forma for the repayment of the term
loan, is affected by Fitch's actions.

Today AMD issued US$1.5 billion aggregate principal amount of
5.75% convertible senior notes due 2012 in a private placement
to qualified institutional buyers pursuant to Rule 144A.  AMD
also granted the initial investors a 30-day option to purchase
up to US$225 million of additional notes to cover any over-
allotments.  The notes are pari passu with the company's
existing senior unsecured debt and convertible into shares of
AMD common stock at an initial conversion price of approximately
US$20.13 per share.

Fitch believes the refinancing moderately improves AMD's
financial flexibility and liquidity, as the company will be
permitted to use proceeds from asset sales for ongoing capital
expenditures rather than to reduce term loan balances, as was
required by the covenants associated with the term loan.
Nonetheless, Fitch also believes AMD's liquidity, which
consisted solely of approximately US$1.6 billion of cash and
cash equivalents at June 30, 2007, remains relatively weak,
particularly considering the company's cash burn rate and need
for continued capital investments.  Fitch notes AMD has reduced
2007 capital spending guidance by approximately US$700 million
as of the second quarter ending June 30, 2007, to approximately
US$1.8 billion to alleviate some pressure on free cash flow.

Pro forma for the private placement and repayment of the term
loan, total debt was US$5.5 billion at June 30, 2007, and
consisted of:

    i) US$893 million Fab 36 Secured Term Loan due 2011;

   ii) US$1.5 billion 5.75% convertible senior unsecured notes
       due 2012;

  iii) US$2.2 billion 6% senior unsecured convertible notes due
       2015;

   iv) US$390 million senior unsecured notes due 2012; and

    v) other debt, including capital leases, of approximately
       US$556 million.

Ratings concerns center on:

-- significant product technology risk associated with the MPU
    market, potentially resulting in meaningful share shifts
    between AMD and Intel going forward, as well as continued
    cyclical operating results;

-- Intel's meaningful manufacturing technology advantage over
    AMD, driven by capital expenditures consistently in excess
    of US$5 billion, forcing AMD to aggressively upgrade
    manufacturing facilities; and

-- AMD's limited financial flexibility due to high debt levels
    coupled with significant spending requirements on capital
    equipment, R&D investments, and marketing initiatives.

The ratings continue to be supported by AMD's:

-- meaningfully higher share of the MPU market;

-- expectations for the ability to provide platform products
    to the marketplace and additional revenue growth
    opportunities from the acquisition of ATI Technologies
    (ATI); and

-- strengthened and expanding relationships with original
    equipment manufacturers (OEM), including Dell Inc. (rated
    'A/F1' on Rating Watch Negative by Fitch).

The Recovery Ratings continue to reflect Fitch's belief that AMD
would be reorganized rather than liquidated in a bankruptcy
scenario, given Fitch's estimates that AMD's current
reorganization value of US$1.5 billion remains higher than its
projected liquidation value of US$1.2 billion. In estimating
reorganization, Fitch assumes a 5 times multiple and 50% stress
to AMD's EBITDA for the latest 12 months ended June 30, 2007, of
approximately US$614 million. Fitch arrives at an adjusted
reorganization value of US$1.3 billion after subtracting
administrative and cooperative claims. Based upon these
assumptions and pro forma for the reduction of senior secured
debt (the remaining amounts related to Fab 36 are not rated by
Fitch) minimal recovery (0-10%) would be available for the
senior unsecured debt, resulting in 'RR6' ratings.

Advanced Micro Devices Inc. -- http://www.amd.com/-- (NYSE:
AMD) designs and manufactures microprocessors and other
semiconductor products.  The company has a facility in
Singapore. It has sales offices in Belgium, France, Germany, the
United Kingdom, Mexico and Brazil.


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F I N L A N D
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QUEBECOR WORLD: S&P Places B+ Long-Term Corporate Credit Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings on
printing company Quebecor World Inc., including the 'B+' long-
term corporate credit rating, on CreditWatch with negative
implications.

"The CreditWatch placement reflect Quebecor World's ongoing weak
performance and our concerns that the company's earnings, credit
measures, and financial flexibility could weaken further due to
a challenging pricing environment, operating losses in its
European division, and intense competition," said Standard &
Poor's credit analyst Lori Harris.  "Furthermore, Quebecor
World's waivers from its bank group for certain financial
covenants are only approved through to the release of its third-
quarter 2007 financial results," Ms Harris added.

Standard & Poor's expects that Quebecor World will need to re-
enter discussions with its bank group to either extend the
waivers or loosen its financial covenants because it's unlikely
to be in compliance following expiry of existing waivers.  In
addition, Quebecor World could begin discussions with its bank
group during this difficult time to negotiate renewing its US$1
billion revolving credit facility, which matures in January
2009.

Reported revenues and adjusted EBITDA were down 6% and 20%,
respectively, in the six months ended June 30, 2007, compared
with the same period in 2006.  The adjusted EBITDA margin
declined to 7.5% in first-half 2007 from 8.9% in the same period
in 2006.  Although management has focused on restructuring
operations and retooling its equipment platform to improve cost
efficiencies and profitability, there are only limited signs of
pricing stabilization in the industry, a key driver of the
business turnaround.

Key credit measures (adjusted for operating leases, accounts
receivable securitization, preferred securities, and
nonrecurring charges) could weaken further from levels at
June 30, 2007.  Debt to EBITDA was 5.3x, funds from operations
to debt was 14%, and EBITDA interest coverage was 2.5x for
the 12 months ended June 30, 2007.

To resolve this CreditWatch listing, Standard & Poor's will meet
with management and review Quebecor World's overall financial
policies, as well as its operating and financial strategies.

Quebecor World Inc. (TSX: IQW) (NYSE: IQW) --
http://www.quebecorworld.com/-- provides print solutions to
publishers, retailers, catalogers and other businesses with
marketing and advertising activities.  Quebecor World has
approximately 29,000 employees working in more than 120 printing
and related facilities in the United States, Canada, Argentina,
Austria, Belgium, Brazil, Chile, Colombia, Finland, France,
India, Mexico, Peru, Spain, Sweden, Switzerland and the United
Kingdom.


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


NYLSTAR INC: Chapter 11 Plan Gets Conditional Court Approval
------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Virginia
gave conditional approval to Nylstar Inc.'s Disclosure
Statement, which was filed concurrently with its Chapter 11 Plan
of Reorganization.  The order effectively authorizes the Debtor
to immediately solicit votes on its Plan.

The Court set the hearing for final approval of the Disclosure
Statement and confirmation of the Plan on Aug. 23, 2007,
11:00 a.m., at the U.S. Bankruptcy Court, 1101 Court Street,
Lynchburg, Virginia.  The Court also set Aug. 21, 2007 as the
deadline for filing objections to the Debtor's Disclosure
Statement.

The Debtor maintains that holding both hearings at the same time
will result in an expeditious and economical conclusion of the
case and will reduce the cost of administration.

                Treatment of Unclassified Claims

In its Plan, the Debtor proposes that each holder of an allowed
Administrative Claim will receive, on the Plan's distribution
date, cash equal to its unpaid portion.  Any administrative
claim incurred in the ordinary course of business will be paid
in accordance to the terms and conditions of any agreement.

Holders of Priority Tax Claims will be paid:

   * cash equal to its unpaid amount;
   * deferred cash payments over a period not exceeding six
     years after each claim's date of assessment; and
   * with certain values based on agreements between the Debtor
     and the tax claim holder.

                 Treatment of Classified Claims

The Debtor indicates in its Plan that holders of Class 1 Other
Priority Claims and Class 4 Convenience Claims will receive, in
full satisfaction, cash equal to the full amount of its allowed
claim.

The legal, equitable and contractual rights of the holders of
allowed Class 2 Other Secured Claims are unaltered by the Plan
and will be rendered unimpaired pursuant to section 1124 of the
U.S. Bankruptcy Code.

The holder of Class 3 Secured Loan Agreement Claim will receive:

   -- a 100% of the New Common Stock and the New PIK Preferred
      Stock issued by the Reorganized Debtor less the New
      Restricted Stock issued pursuant to a stock incentive
      management plan; and

   -- a reinstatement of US$15 million in principal obligations
      under the Secured Loan Agreement, as restructured by a new
      Senior Credit Agreement between the Debtor and Bear
      Stearns Investment Products, Inc.

Additionally, the holders of the following claims will not
receive or retain any property on account of their respective
claims:

   1) Class 5 General Unsecured Claims;
   2) Class 6 Subordianted Section 510(a) Claims;
   3) Class 7 intercompany Claims;
   4) Class 8 Equity Interests; and
   5) Class 9 Other Equity Interests.

On the effective date, all Equity Interests will be cancelled
and extinguished.

                        About Nylstar Inc.

Headquartered in Ridgeway, Virginia, Nylstar Inc. --
http://www.nylstar.com/-- manufactures nylon fibers.  The
company filed for Chapter 11 protection on July 5, 2007 (Bankr.
W.D. Va. Case No. 07-61227).  Richard C. Maxwell, Esq., at
Woods, Rogers & Hazlegrove, P.L.C., represents the Debtor.  No
Official Committee of Unsecured Creditors has been appointed to
date on this case.  In its schedules of assets and liabilities,
the Debtor listed total assets of US$18,505,922 and total
liabilities of US$59,711,886.

The company's parent, Nysltar France, was placed into voluntary
administration or redressement judiciaire on July 6, 2007, by
the President of the Arras Commercial Court.  This is the French
equivalent of the United States' Chapter 11 process.


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G E R M A N Y
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BUSCHE & SCHNEIDER: Creditors Must Register Claims by Aug. 22
-------------------------------------------------------------
Creditors of Busche & Schneider GmbH have until Aug. 22 to
register their claims with court-appointed insolvency manager
Edgar Dorn.

Creditors and other interested parties are encouraged to attend
the meeting at 1:30 p.m. on Aug. 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 Hechingen
         Room 055
         Heiligkreuzstrasse 9
         Hechingen
         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:

         Edgar Dorn
         Berner Feld 74
         78628 Rottweil
         Telefax: 0741/1754020
         Germany

The District Court of Hechingen opened bankruptcy proceedings
against Busche & Schneider GmbH on Aug. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Busche & Schneider GmbH
         Erzinger Str. 11
         72351 Geislingen
         Germany


CARMIX OSNABRUECK: Creditors Must Register Claims by Aug. 30
------------------------------------------------------------
Creditors of CARMIX Osnabrueck GmbH have until Aug. 30 to
register their claims with court-appointed insolvency manager
Michael Selker.

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

The meeting of creditors will be held at:

         The District Court of Osnabrueck
         Branch N 302
         Kollegienwall 10
         49074 Osnabrueck
         Germany

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

The insolvency manager can be reached at:

         Michael Selker
         Niedersachsenstr. 11a
         49074 Osnabrueck
         Tel: 0541/357450
         Fax: 0541/3574511
         Germany

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

The Debtor can be reached at:

         CARMIX Osnabrueck GmbH
         Pagenstecher Str. 133
         49090 Osnabrueck
         Germany

         Attn: Walter Horn, Manager
         Hainbuchenstr 22
         26180 Rastede
         Germany


CON-TOURS VERWALTUNGS: Creditors' Meeting Slated for Oct. 4
-----------------------------------------------------------
The court-appointed insolvency manager for Con-Tours Verwaltungs
GmbH, Stefanie Luethje will present his first report on the
Company's insolvency proceedings at a creditors' meeting at
9:45 a.m. on Oct. 4.

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

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

The Court will also verify the claims set out in the insolvency
manager's report at 11:00 a.m. on Nov. 29 at the same venue.

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

The insolvency manager can be reached at:

         Stefanie Luethje
         Ostertorsteinweg 74/75
         28203 Bremen
         Germany
         Tel: 792570
         Fax: 7925757
         E-mail: Luethje@oelb.de
         Website: http://www.oelb.de/

The District Court of Bremen opened bankruptcy proceedings
against Con-Tours Verwaltungs GmbH on Aug. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Con-Tours Verwaltungs GmbH
         Ostertorsteinweg 81
         28203 Bremen
         Germany


DUERR AG: Earns EUR45,000 for First Half 2007
---------------------------------------------
Duerr AG posted EUR45,000 in net profit on EUR650.3 million in
net revenues for the first half of 2007, compared with EUR3.3
million in net losses on EUR626.3 million in net revenues for
the same period in 2006.

The earnings situation was impaired in the second quarter by
delays on projects in India, especially on a large order.  Duerr
launched a package of measures including, among other things, a
broadening of its local supplier base in India.  As a result of
the project delays, the gross margin sank to 16.1% from 17.0% in
the same period in 2006.

Internal processes are benefiting from the improvements
implemented under the Group-wide FOCUS program.  As a result,
administrative and selling expenses were down overall by 2.7% to
EUR89.7 million.

Owing to the good order situation and the first-time
consolidation of an Italian subsidiary with 40 employees, the
number of employees rose to 5,836 as of June 30, 2007.  This is
3.3% more than at the end of 2006.  The biggest increase was in
the growth region of Asia, where the number of employees rose by
16.0% to 697.

At 22.9%, the equity ratio at June 30, 2007 was virtually
unchanged versus the previous year (23.0%).  Net financial debt
amounted to EUR145.5 million at June 30, 2007 as compared with
EUR122.2 million a year earlier.  Duerr met most of its
financing requirements in the first half of 2007 from cash and
cash equivalents.

"New orders were 40% above sales revenues in the first half.
Our reach of orders has therefore continued to grow.  Capacities
are well utilized until far into 2008," Duerr AG CEO Ralf Dieter
commented.

                   Unchanged Positive Outlook

Duerr anticipates a sustained good order situation.  The company
expects that incoming orders in 2007 will at least match the
high 2006 level.  Duerr continues to forecast a significant
earnings improvement in 2007, especially as higher-margin orders
will be executed in the second half.

Much of the earnings growth will be realized in the fourth
quarter.  A further earnings improvement is expected in 2008.
The target return for 2008 is an unchanged at least 5% at the
operating earnings level.

                          About Duerr

Headquartered in Stuttgard, Germany, The Duerr Group
-- http://www.durr.com/en/-- supplies products, systems, and
services for automobile manufacturing.  Duerr designs and builds
paint shops and final assembly plants.

The Duerr Group also operates in Czech Republic, France, U.K.,
Italy, Netherlands, Poland, Russia, Slovakia, Spain, Turkey,
Australia, Brazil, China, India, Japan, Mexico, South Africa,
South Korea and the U.S.A.

                            *   *   *

As reported in the TCR-Europe on June 22, 2007, Moody's upgraded
the outlook for Duerr AG's corporate credit rating from negative
to stable.  Duerr AG's corporate credit rating continues to
stand at B2.

As of April 10, 2007, Duerr AG carries Moody's Long-term
Corporate Family rating of B2, Senior Subordinated Debt rating
of Caa1.

Moody's also assigned Loss-Given-Default Rating of LGD5 for
Duerr's 9.75% Senior Subordinated Regular Bond/Debenture Due
2011.

Standard & Poor's assigned Long-Term Foreign Issuer Credit
rating of B to Duerr, its Long-term Local Issuer Credit is at B
with Outlook Stable.


FABULJAN ENTERPRISES: Claims Registration Period Ends Oct. 9
------------------------------------------------------------
Creditors of Fabuljan Enterprises GmbH have until Oct. 9 to
register their claims with court-appointed insolvency manager
Martin Schoebe.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Oct. 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 Kempten
         Room 144/I
         Residenzplatz 4-6
         Kempten
         Germany

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

The insolvency manager can be reached at:

         Martin Schoebe
         Ainmillerstr. 11
         80801 Munich
         Germany
         Tel: 089/1893770
         Fax: 089/18937750

The District Court of Kempten opened bankruptcy proceedings
against Fabuljan Enterprises GmbH on July 30.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Fabuljan Enterprises GmbH
         Fischerbichl 33
         87629 Fuessen
         Germany


GRISOU GASTSTATTEN: Claims Registration Ends Sept. 14
-----------------------------------------------------
Creditors of Grisou Gaststatten Betriebs GmbH have until
Sept. 14 to register their claims with court-appointed
insolvency manager Ygglev Stintzing.

Creditors and other interested parties are encouraged to attend
the meeting at 9:17 a.m. on Oct. 10, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Flensburg
         Hall A 220
         Flensburg
         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:

         Ygglev Stintzing
         Rathausstrasse 1
         24937 Flensburg
         Germany

The District Court of Flensburg opened bankruptcy proceedings
against Grisou Gaststatten Betriebs GmbH on Aug. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Grisou Gaststatten Betriebs GmbH
         Attn: Esther Butzke, Manager
         Holm 45
         24937 Flensburg
         Germany


H & H COSMED: Claims Registration Ends Sept. 4
----------------------------------------------
Creditors of H & H Cosmed GmbH have until Sept. 4 to register
their claims with court-appointed insolvency manager Karl-
Heinrich Lorenz.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 a.m. on Oct. 22, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Mannheim
         Hall 232
         Second Floor
         Schloss
         68149 Mannheim
         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-Heinrich Lorenz
         Theodor Heuss-Anlage 12
         68165 Mannheim
         Germany
         Tel: 0621/422900

The District Court of Mannheim opened bankruptcy proceedings
against H & H Cosmed GmbH on Aug. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         H & H Cosmed GmbH
         Attn: Caroline Klett- Loch, Manager
         Bautzener Weg 1-3
         68309 Mannheim
         Germany


HANDWERKERPERSONAL GMBH: Claims Registration Period Ends Oct. 2
---------------------------------------------------------------
Creditors of Handwerkerpersonal GmbH have until Oct. 2 to
register their claims with court-appointed insolvency manager
Stephan Ruedlin.

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

The meeting of creditors will be held at:

         The District Court of Ludwigsburg
         Hall 2001
         Palace Schuetz
         Schorndorfer Str. 28
         Ludwigsburg
         Germany

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

The insolvency manager can be reached at:

         Stephan Ruedlin
         Bismarckstr. 107
         74074 Heilbronn
         Germany
         Tel: 07131/91344-0
         Fax: 07131/91344-11
         Website: http://www.kuebler-gbr.de/

The District Court of Ludwigsburg opened bankruptcy proceedings
against Handwerkerpersonal GmbH on July 31.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Handwerkerpersonal GmbH
         Attn: Alexa Jongeling, Manager
         Raiffeisenstr. 4
         74385 Pleidelsheim
         Germany


HARZER PALETTEN-KONTOR: Claims Registration Ends Aug. 29
--------------------------------------------------------
Creditors of Harzer Paletten-Kontor GmbH have until Aug. 29 to
register their claims with court-appointed insolvency manager
Klaus Wrede.

Creditors and other interested parties are encouraged to attend
the meeting at 9:50 a.m. on Sept. 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 Magdeburg
         Hall D
         Insolvency Department
         Liebknechtstrasse 65-91
         39110 Magdeburg
         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 Wrede
         Lennestrasse 10
         39112 Magdeburg
         Germany
         Tel: 0391/5973315
         Fax: 0391/5973333
         E-Mail: k.wrede@kwp-magdeburg.com

The District Court of Magdeburg opened bankruptcy proceedings
against Harzer Paletten-Kontor GmbH on July 31.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Harzer Paletten-Kontor GmbH
         Nordstr. 7
         39418 Stassfurt
         Germany


HEIDMANN GARAGEN: Claims Registration Ends Sept. 3
--------------------------------------------------
Creditors of Heidmann Garagen-und Carportbau GmbH have until
Sept. 3 to register their claims with court-appointed insolvency
manager Karl-Heinz Blaha.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on Oct. 8, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Celle
         Hall 014
         First Floor
         Muehlenstrasse 4
         29221 Celle
         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-Heinz Blaha
         Bahnhofstr. 30 A
         29221 Celle
         Germany
         Tel: 05141/28011
         Fax: 05141/24722
         E-Mail: Rae_valentiner_blaha_buchholz@gmx.de

The District Court of Celle opened bankruptcy proceedings
against Heidmann Garagen-und Carportbau GmbH on Aug. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Heidmann Garagen-und Carportbau GmbH
         Nienhagener Strasse 1
         29339 Wathlingen
         Germany


HEILBRONN MASCHINENBAU: Creditors’ Meeting Slated for Sept. 6
-------------------------------------------------------------
The court-appointed insolvency manager for Heilbronn
Maschinenbau GmbH & Co KG, Undine Haller, will present his first
report on the Company's insolvency proceedings at a creditors'
meeting at 10:30 a.m. on Sept. 6.

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

         The District Court Heilbronn
         Hall 4
         Ground Floor
         Rollwagstr. 10a
         74072 Heilbronn
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 11:00 a.m. on Oct. 16 at the same venue.

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

The insolvency manager can be reached at:

         Undine Haller
         Bismarckstrasse 39
         74074 Heilbronn
         Germany
         Tel: 07131/173032
         Fax: 07131/171112

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


The Debtor can be reached at:

         Heilbronn Maschinenbau GmbH & Co KG
         Wannenackerstrasse 36
         74078 Heilbronn
         Germany


HEINZE GMBH: Claims Registration Ends September 7
-------------------------------------------------
Creditors of Heinze GmbH & Co Produktions- und Vertriebs KG have
until Sept. 7 to register their claims with court-appointed
insolvency manager Dr. Norbert Wischermann.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 a.m. on Oct. 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 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. Norbert Wischermann
         Alter Markt 9-13
         42275 Wuppertal
         Tel: 0202/493 88-0
         Fax: 0202/451 939

The District Court of Wuppertal opened bankruptcy proceedings
against Heinze GmbH & Co Produktions- und Vertriebs KG on
July 31.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Heinze GmbH & Co Produktions- und Vertriebs KG
         Ahrstr. 4
         42117 Wuppertal
         Germany

         Attn: Peter Heinze, Manager
         Falkenberg 69
         42113 Wuppertal
         Germany


HISTORISCHE HOTELS: Claims Registration Ends September 7
--------------------------------------------------------
Creditors of Historische Hotels und Restaurants Martin und
Andreas Jager GmbH have until Sept. 7 to register their claims
with court-appointed insolvency manager Stephan Ries.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on Oct. 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 Wuppertal
         Meeting Hall A234
         Second Floor
         Eiland 2
         42103 Wuppertal
         Germany

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

The insolvency manager can be reached at:

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

The District Court of Wuppertal opened bankruptcy proceedings
against Historische Hotels und Restaurants Martin und Andreas
Jager GmbH on Aug. 1.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be reached at:

         Historische Hotels und Restaurants Martin
         und Andreas Jager GmbH
         Schlossplatz 1
         42659 Solingen
         Germany

         Attn: Andreas Jager, Manager
         Wermelskirchener Str. 12-16
         42659 Solingen
         Germany


HLL HEIMLIEFERLOGISTIK: Claims Registration Ends September 18
-------------------------------------------------------------
Creditors of HLL Heimlieferlogistik GmbH have until Sept. 18 to
register their claims with court-appointed insolvency manager
Alexander Saponjic.

Creditors and other interested parties are encouraged to attend
the meeting at 8:00 a.m. on Oct. 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 Landshut
         Meeting Hall 8/I
         Maximilianstrasse 22-24
         Landshut
         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:

         Alexander Saponjic
         Bachstr. 6
         84036 Landshut
         Germany
         Tel: 0871/943210
         Fax: 0871/9432150

The District Court of Landshut opened bankruptcy proceedings
against HLL Heimlieferlogistik GmbH on Aug. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         HLL Heimlieferlogistik GmbH
         Sonnenring 44
         84032 Altdorf
         Germany


HUEDAVERDI WARENHANDELS: Claims Registration Ends August 31
-----------------------------------------------------------
Creditors of Huedaverdi Warenhandels GmbH have until Aug. 31 to
register their claims with court-appointed insolvency manager
Anton Rosenauer.

Creditors and other interested parties are encouraged to attend
the meeting at 1:30 p.m. on Sept. 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 Stuttgart
         Hall 178
         First Floor
         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 reached at:

         Anton Rosenauer
         Industriestr. 3
         70565 Stuttgart
         Germany
         Tel: 0711/2317593
         Fax: 0711/2317594

The District Court of Stuttgart opened bankruptcy proceedings
against Huedaverdi Warenhandels GmbH on Aug. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Huedaverdi Warenhandels GmbH
         Von-Pistorius-Strasse 10
         70188 Stuttgart
         Germany


INFO INFORMATIONS: Claims Registration Ends September 10
--------------------------------------------------------
Creditors of INFO Informations- und Beweissicherungsgesellschaft
mbH have until Sept. 10 to register their claims with court-
appointed insolvency manager Peter Depre.

Creditors and other interested parties are encouraged to attend
the meeting at 8:45 a.m. on Oct. 10, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Landau in der Pfalz
         Hall 221
         Marienring 13
         76829 Landau in der Pfalz
         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 Depre
         O 4, 13-16
         68161 Mannheim
         Germany
         Tel: 0621-12078-0

The District Court of Landau in der Pfalz opened bankruptcy
proceedings against INFO Informations- und
Beweissicherungsgesellschaft mbH on Aug. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         INFO Informations- und Beweissicherungsgesellschaft mbH
         Attn: Ingo Heimbrodt, Manager
         Westbahnstr. 8
         76829 Landau in der Pfalz
         Germany


INSERVIO GESELLSCHAFT: Creditors’ Meeting Slated for October 12
---------------------------------------------------------------
The court-appointed insolvency manager for Inservio Gesellschaft
fuer logistische Dienstleistungen fuer Presse und Vertrieb mbH,
Knut Rebholz will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 10:50 a.m. on
Oct. 12.

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

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

The Court will also verify the claims set out in the insolvency
manager's report at 10:40 a.m. on Dec. 14 at the same venue.

Creditors have until Nov. 12 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Knut Rebholz
         Cicerostr. 22
         10709 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Inservio Gesellschaft fuer logistische
Dienstleistungen fuer Presse und Vertrieb mbH on July 24.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Inservio Gesellschaft fuer logistische
         Dienstleistungen fuer Presse und Vertrieb mbH
         Moabit 91 d
         10559 Berlin
         Germany


INSUMMA PROJEKTGESELLSCHAFT: Creditors' Claims Due Sept. 1
----------------------------------------------------------
Creditors of Insumma Projektgesellschaft mbH have until Sept. 1
to register their claims with court-appointed insolvency manager
Michael Wirth.

Creditors and other interested parties are encouraged to attend
the meeting at 10:45 a.m. on Sept. 18, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Michael Wirth
         Martin-Luther-Strasse 20
         91207 Lauf
         Germany

The District Court of Nuremberg opened bankruptcy proceedings
against Insumma Projektgesellschaft mbH on Aug. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Insumma Projektgesellschaft mbH
         Attn: Josef Schleifer, Manager
         Neudoerfer Strasse 3
         90402 Nuremberg
         Germany


J. WEBER: Creditors Must File Claims by September 7
---------------------------------------------------
Creditors of J. Weber GmbH & Co. KG have until Sept. 7 to
register their claims with court-appointed insolvency manager
Gisela Ansorge.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on Sept. 28, 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 Norderstedt
         Hall B
         Rathausallee 80
         22846 Norderstedt
         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:

         Gisela Ansorge
         Fahrhausstrasse 8
         22085 Hamburg
         Germany

The District Court of Norderstedt opened bankruptcy proceedings
against J. Weber GmbH & Co. KG on Aug. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         J. Weber GmbH & Co. KG
         Dorfstrasse 41
         24568 Winsen
         Germany


JUERGENSEN LANDTECHNIK: Creditors Must File Claims by Sept. 25
--------------------------------------------------------------
Creditors of Juergensen Landtechnik GmbH & Co. Handels-und
Beteiligungs KG have until Sept. 25 to register their claims
with court-appointed insolvency manager Jan H. Wilhelm.

Creditors and other interested parties are encouraged to attend
the meeting at 10:05 a.m. on Oct. 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 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:

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

The District Court of Flensburg opened bankruptcy proceedings
against Juergensen Landtechnik GmbH & Co. Handels-und
Beteiligungs KG on Aug. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Juergensen Landtechnik GmbH & Co. Handels-
         und Beteiligungs KG
         Flensburger Str. 75
         24376 Kappeln
         Germany


K + S HOTELBETRIEB: Creditors Must File Claims by Sept. 4
---------------------------------------------------------
Creditors of K + S Hotelbetrieb und Consulting GmbH have until
Sept. 4 to register their claims with court-appointed insolvency
manager Ulrich Bert.

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

The meeting of creditors will be held at:

         The District Court of Darmstadt
         Hall 4.312
         Fourth Floor
         Building D
         Mathildenplatz 15
         64283 Darmstadt
         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:

         Ulrich Bert
         Birkenweg 24
         64295 Darmstadt
         Germany
         Tel: 06151/66 72 9-0
         Fax: 06151/66 72 9-20

The District Court of Darmstadt opened bankruptcy proceedings
against K + S Hotelbetrieb und Consulting GmbH on Aug. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         K + S Hotelbetrieb und Consulting GmbH
         Nordendstrasse 4a
         64546 Moerfelden-Walldorf
         Germany


KIRCHMEIER & BRUECK: Creditors Must Register Claims by Aug. 24
--------------------------------------------------------------
Creditors of Kirchmeier & Brueck Architekten BDA Planungs GmbH
have until Aug. 24 to register their claims with court-appointed
insolvency manager S. Nolte.

Creditors and other interested parties are encouraged to attend
the meeting at 1:30 p.m. on Sept. 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 Erfurt
         Hall 6
         Judicial Center
         Rudolfstr. 46
         99092 Erfurt
         Germany

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

The insolvency manager can be reached at:

         S. Nolte
         Peterstrasse 5
         99084 Erfurt
         Germany

The District Court of Erfurt opened bankruptcy proceedings
against Kirchmeier & Brueck Architekten BDA Planungs GmbH on
June 26.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Kirchmeier & Brueck Architekten BDA Planungs GmbH
         Marktstrasse 14
         99423 Weimar
         Germany


LHW LEBENSHILFE: Creditors Must Register Claims by Aug. 18
----------------------------------------------------------
Creditors of LHW Lebenshilfe Werkstatt GmbH have until Aug. 18
to register their claims with court-appointed insolvency manager
Ulrich Wenzel.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on Oct. 23, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Frankfurt (Oder)
         Hall 401
         Muellroser Chaussee 55
         15236 Frankfurt (Oder)
         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. Ulrich Wenzel
         Grossbeerenstr. 231
         14480 Potsdam
         Germany

The District Court of Frankfurt (Oder) opened bankruptcy
proceedings against LHW Lebenshilfe Werkstatt GmbH on Aug. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         LHW Lebenshilfe Werkstatt GmbH
         Finkensteig 31
         15234 Frankfurt
         Germany


LO ZAPPA: Creditors’ Meeting Slated for September 3
---------------------------------------------------
The court-appointed insolvency manager for Lo Zappa
Textileinzelhandelsgesellschaft mbH, Petra Gerlach will present
her first report on the Company's insolvency proceedings at a
creditors' meeting at 10:30 a.m. on Sept. 3.

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

         The District Court of Saarbruecken
         Meeting Hall 24
         Second Floor
         Vopeliusstrasse 2
         66280 Sulzbach
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 8:45 a.m. on Oct. 1 at the same venue.

Creditors have until Sept. 17 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Petra Gerlach
         Kaiserstr. 25a
         66111 Saarbruecken
         Tel: 0681-306410
         Fax: 0681-399249

The District Court of Sulzbach opened bankruptcy proceedings
against Lo Zappa Textileinzelhandelsgesellschaft mbH on Aug. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Lo Zappa Textileinzelhandelsgesellschaft mbH
         Attn: Ellen Voelke-Dinia, Manager
         Tuerkenstr. 4
         66111 Saarbruecken
         Germany


M & M TRANSPORTLOGISTIK: Creditors Must File Claims by Aug. 24
--------------------------------------------------------------
Creditors of M & M Transportlogistik GmbH have until Aug. 24 to
register their claims with court-appointed insolvency manager
Marcus Goebel.

Creditors and other interested parties are encouraged to attend
the meeting at 7:45 a.m. on Sept. 14, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Landshut
         Meeting Hall 9/I
         Maximilianstrasse 22-24
         Landshut
         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:

         Marcus Goebel
         Marschallstr. 19
         84028 Landshut
         Germany

The District Court of Landshut opened bankruptcy proceedings
against M & M Transportlogistik GmbH on Aug. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         M & M Transportlogistik GmbH
         Reichenbergerstr. 9
         84028 Landshut
         Germany


MALER ROTH: Creditors Must File Claims by August 28
---------------------------------------------------
Creditors of Maler Roth GmbH have until Aug. 28 to register
their claims with court-appointed insolvency manager
Stefan Neumann.

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

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Stefan Neumann
         Mozartstr. 11
         76133 Karlsruhe
         Germany

The District Court of Karlsruhe opened bankruptcy proceedings
against MA-RO Maler Roth GmbH on July 27.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Maler Roth GmbH
         Im Eichbaumle 36
         76139 Karlsruhe
         Germany


MEDIA COOPERATION: Creditors Must File Claims by Aug. 30
--------------------------------------------------------
Creditors of Media Cooperation One GmbH have until Aug. 30 to
register their claims with court-appointed insolvency manager
Albert Hirt.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on Sept. 27, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Stuttgart
         Hall 13
         Ground Floor
         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 reached at:

         Albert Hirt
         Berner Feld 74
         78628 Rottweil
         Germany

The District Court of Stuttgart opened bankruptcy proceedings
against Media Cooperation One GmbH on Aug. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Media Cooperation One GmbH
         Rotebuehlstr. 102
         70178 Stuttgart
         Germany


METALL-BAU: Claims Registration Period Ends Sept. 12
----------------------------------------------------
Creditors of METALL-BAU-GmbH have until Sept. 12 to register
their claims with court-appointed insolvency manager Jens Dohse.

Creditors and other interested parties are encouraged to attend
the meeting at 1:00 p.m. on Oct. 17, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Rostock
         Hall 330
         Zochstrasse
         18057 Rostock
         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 Dohse
         Hermannstrasse 5
         18055 Rostock
         Germany

The District Court of Rostock opened bankruptcy proceedings
against METALL-BAU-GmbH on Aug. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         METALL-BAU-GmbH
         Attn: Olaf Stellmach, Manager
         Hundehager Weg 2
         18236 Kroepelin
         Germany


ML COMPUTERVERTRIEBS: Claims Registration Ends Sept. 7
------------------------------------------------------
Creditors of ML Computervertriebs GmbH have until Sept. 7 to
register their claims with court-appointed insolvency manager
Sandra Bitter.

Creditors and other interested parties are encouraged to attend
the meeting at 11:30 a.m. on Sept. 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 Paderborn
         Meeting Hall 230a
         Second Floor
         Bogen 2-4
         33098 Paderborn
         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:

         Sandra Bitter
         Busdorfwall 22
         33098 Paderborn
         Germany
         Tel: 05251/180660
         Fax: 05251/1806666

The District Court of Paderborn opened bankruptcy proceedings
against ML Computervertriebs GmbH on Aug. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         ML Computervertriebs GmbH
         Detmolder Str. 74
         33100 Paderborn
         Germany


S-CORE 2007-1: Moody's Rates Class E & F Notes at Low-B
-------------------------------------------------------
Moody's Investors Service assigned these definitive ratings in
respect of the notes issued by S-CORE 2007-1 GmbH:

   -- Aaa to the EUR363,800,000 Class A1 Floating Rate Asset
      Backed Notes;

   -- Aaa to the EUR91,000,000 Class A2 Floating Rate Asset
      Backed Notes;

   -- Aa1 to the EUR8,850,000 Class B Floating Rate Asset Backed
      Notes;

   -- Aa3 to the EUR9,600,000 Class C Floating Rate Asset Backed
      Notes;

   -- A3 to EUR12,400,000 Class D Floating Rate Asset Backed
      Notes;

   -- Ba2 to EUR19,700,000 Class E Floating Rate Asset Backed
      Notes; and

   -- B3 to EUR4,300,000 Class F Floating Rate Asset Backed
      Notes.

The ratings address the expected loss posed to investors by the
legal final maturity in April 2016.

The portfolio comprises loan receivables governed by German law
and denominated in Euro.  The debtors are German small to medium
sized companies.  The loan receivables provide for:

   (i) fixed interest rate payments; and
  (ii) repayment in one single amount at maturity.

Generally, the loan receivables are not secured by any
collateral.  In case insolvency proceedings are opened against a
debtor, S-CORE would rank just pari passu to other senior
unsecured creditors of such debtor.  Overall, the portfolio
consists of 157 loan receivables owed by 154 debtors.

S-CORE, the issuer, incorporated in Germany as a limited
liability company under the shield of the TSI, issued seven
classes of rated Notes: Class A1, Class A2, Class B, Class C,
Class D, Class E and Class F Notes (the latter being used to
initially fund the Reserve Account).  All classes are expected
to mature on the date falling approximately seven years after
the issue date (which is in April 2014).  In case not all Notes
are redeemed in full on the expected maturity date, the maturity
of the Notes will extend until the legal maturity in April 2016.


STP GMBH: Claims Registration Period Ends Nov. 14
-------------------------------------------------
Creditors of STP GmbH Spezial-Trockenbau-Partner have until
Nov. 14 to register their claims with court-appointed insolvency
manager Dr. Hess.

Creditors and other interested parties are encouraged to attend
the meeting at 2:15 p.m. on Nov. 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 Erfurt
         Hall 6
         Judicial Center
         Rudolfstr. 46
         99092 Erfurt
         Germany

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

The insolvency manager can be reached at:

         Dr. Hess
         Barbarossahof 4-5
         99092 Erfurt
         Germany

The District Court of Erfurt opened bankruptcy proceedings
against STP GmbH Spezial-Trockenbau-Partner on July 30.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         STP GmbH Spezial-Trockenbau-Partner
         Attn: Karin Gerbig, Manager
         Schlachthofstrasse 8
         99423 Weimar
         Germany


THUERINGER BAUMSCHMUCK: Claims Registration Ends Oct. 25
--------------------------------------------------------
Creditors of Thueringer Baumschmuck Steinheid GmbH have until
Oct. 25 to register their claims with court-appointed insolvency
manager Andreas Schafft.

Creditors and other interested parties are encouraged to attend
the meeting at 10:05 a.m. on Nov. 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 Meiningen
         Hall 105
         Lindenallee 15
         Meiningen
         Germany

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

The insolvency manager can be reached at:

         Andreas Schafft
         Charlottenstr. 7
         99096 Erfurt
         Germany

The District Court of Meiningen opened bankruptcy proceedings
against Thueringer Baumschmuck Steinheid GmbH on July 31.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Thueringer Baumschmuck Steinheid GmbH
         Neuhauser Strasse 8-10
         98749 Steinheid
         Germany


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


AES CORPORATION: Earns US$247 Million in Second Quarter 2007
------------------------------------------------------------
The AES Corporation earned US$247 million for the second quarter
of 2007 compared to US$175 million of net income for the same
quarter in 2006.

The company's revenues increased 17% to US$3.3 billion compared
to US$2.9 billion for the second quarter of 2006, while net cash
from operating activities increased 19% to US$526 million
compared to US$442 million last year.

Second quarter income from continuing operations was US$279
million versus US$193 million in second quarter 2006.  Adjusted
earnings per share (a non-GAAP financial measure) was US$0.41
versus US$0.28 in second quarter 2006.  This increase in
adjusted earnings reflects the positive impacts of:

  * a net positive per share impact of US$0.15 due to one-time
    benefits from a gain associated with the acquisition of
    lessor interests and tax recoveries at certain
    subsidiaries;

  * improvements in gross margin;

  * decreases in net interest expense.

Offsetting these positive impacts were:

  * a higher effective tax rate;

  * higher minority interest expense; and

  * emissions sales that were lower by US$24 million, or
    US$0.03 impact per share.

During the quarter, the company continued to expand its
alternative energy business around the globe.  The company
acquired two wind farm projects totaling 186 MW in the United
States and acquired a 49% stake in a joint venture to construct
and operate 225 MW of wind projects in China.  The company also
completed the construction of its 233 MW Buffalo Gap II wind
farm in Texas.  In its core power business, the company
commenced construction of its first project in Jordan, a 370 MW
gas-fired power plant located outside of Amman, and acquired a
51% stake in a 390 MW pipeline of hydroelectric projects in
Turkey.

"We had a strong quarter in terms of both our operational
results and building our growth pipeline," said Paul Hanrahan,
AES President and CEO.  "We continued to develop our alternative
energy business and, with more than 1,000 MW of wind facilities
in operations, we are on track to triple our wind generation
capacity by 2011.  We are also making good progress growing our
traditional business, with expansions into the high growth
markets of Turkey and the Middle East."

                      About AES Corp.

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

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

                       *     *     *

In Oct. 20, 2006, Moody's Investors Service's downgraded its B1
Corporate Family Rating for AES Corporation in connection with
the implementation of its new Probability-of-Default and Loss-
given-default rating methodology.  Additionally, Moody's revised
its probability-of-default ratings and assigned loss-given-
default ratings on the company's loans and bond debt obligations
including the B1 rating on its senior unsecured notes 7.75% due
2014, which was also given an LGD4 loss-given default rating,
suggesting noteholders will experience a 55% loss in the event
of a default.


TIMKEN CO: Moody's Affirms Low-B Ratings on Improved Performance
----------------------------------------------------------------
Moody's Investors Service revised Timken Company's ratings
outlook to positive from stable.  The positive outlook reflects
improvements in the company's operating performance and leverage
as well as Moody's view that the company's margin volatility may
have been reduced as a result of the business transformation
initiatives it has pursued in the past few years.

At the same time, Moody's affirmed Timken's Ba1 corporate family
rating and the Ba1 rating on Timken's US$300 million Medium Term
Notes, Series A.

Moody's Ba1 ratings reflect Timken's market position as a
leading producer of tapered roller and needle bearings, its
well-regarded reputation and long operating history, along with
its moderate leverage and reduced pension underfunding.

However, the Ba1 ratings incorporate Moody's concern over the
ongoing poor operating performance of its automotive segment,
which comprises a significant proportion of the company's end
market exposure, low operating margins, and modest free cash
flow, which is due in part to elevated capital expenditures in
support of growth initiatives, working capital pressures and
pension contributions.

The stronger credit profile of the company reflects the
expansion into new industrial segments and international
markets, as well as the de-leveraging efforts in large part due
to the company's materially improved pension funding status
having made US$900 million in contributions to the plan since
2002.  The company continues to pursue growth initiatives, such
as its move into high growth markets, particularly, aerospace
and industrial, strategic divestitures of unprofitable
businesses and the expansion of global distribution channels.

Outlook Actions:

   * Issuer: Timken Company (The)

   -- Outlook, Changed To Positive From Stable

Headquartered in Canton, Ohio, The Timken Company (NYSE: TKR) --
http://www.timken.com/-- is a manufacturer of highly engineered
bearings and alloy steels.  It also provides related components
and services such as bearing refurbishment for the aerospace,
medical, industrial and railroad industries.  The company
operates in three business segments, Industrial (42% of
revenues), Automotive (32%), and Steel (26%).  For the LTM June
30, 2007 Timken generated approximately US$4.9 billion in
revenues from continuing operations.

The company has operations in Argentina, Australia, Belgium,
Brazil, Canada, China, Czech Republic, England, France, Germany,
Hungary, India, Italy, Japan, Korea, Mexico, Netherlands,
Poland, Romania, Russia, Singapore, South America, Spain,
Taiwan, Turkey, United States, and Venezuela and employs 27,000
employees.


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


CELESTICA INC: Appoints Craig Muhlhauser as President & CEO
-----------------------------------------------------------
Celestica Inc. has hired Craig Muhlhauser as President and Chief
Executive Officer effective immediately.

Mr. Muhlhauser has served as Celestica's President and Chief
Executive Officer since November 2006.  Prior to that, he was
the company's President and Executive Vice President of
Worldwide Sales and Business Development.  Throughout his
career, Mr. Muhlhauser has worked in a range of industries
spanning the consumer, industrial, communications, automotive
and aerospace and defense sectors.

Celestica Inc. (NYSE:CLS) -- http://www.celestica.com/--
provides innovative electronics manufacturing services.  Through
its global manufacturing and supply chain network, the company
delivers competitive advantage to companies in the computing,
communications, consumer, industrial, and aerospace and defense
end markets.  Celestica operates a highly sophisticated global
manufacturing network with operations in Brazil, China, Ireland,
Italy, Japan, Malaysia, Philippines, Puerto Rico, and the United
Kingdom, among others.

                       *     *     *

As reported in the Troubled Company Reporter on May 4, 2007,
Moody's Investors Service downgraded Celestica Inc.'s corporate
family rating to B1 from Ba3 and the senior subordinated note
ratings to B3 from B2.  Simultaneously, Moody's lowered the
company's speculative grade liquidity rating to SGL-2 from
SGL-1.


SANYO ELECTRIC: In Talks w/ Sharp & Kyocera on Sale of Unit
-----------------------------------------------------------
Sanyo Electric Co., Ltd., is separately negotiating with Sharp
Corp. and Kyocera Corp. about selling its mobile phone arm --
Telecom Sanyo Co. -- in the hope of concluding a deal by the end
of 2007, the Japan Times reports, citing industry sources.

According to the report, Sanyo plans to pull out of the cell
phone business to focus on core areas such as rechargeable
batteries and commercial-use equipment.

Telecom Sanyo, Japan Times says, booked an operating loss for
the first time in the business year through March 31 due mainly
to appraisal losses over inventories.  It also recorded a
deficit in the April-June period on sales of JPY47.6 billion,
down 42% from the year before, due to sluggish domestic sales.
The company had to revise downward its global sales target for
the business year through next March to 11 million handsets from
an initial 12.5 million.

The report points out that Sharp and Kyocera are believed to be
interested in Sanyo's technology as well as its overseas sales
networks.  However, Sanyo and the two companies have not
finalized agreements due to various conditions, including the
price, according to the sources.

Sanyo is considering advancing negotiations by putting the sale
out to tender, Japan Times cites its sources as saying.

The TCR-AP reported on Aug. 3 that Sanyo had explained that
Telecom Sanyo is solely a retail operator, and has no relation
to its mobile phone manufacturing business, after reports spread
that Sanyo is planning to sell its mobile phone handset
production business.

                       About Sanyo Electric

Headquartered in Osaka, Japan, Sanyo Electric Co., Ltd. --
http://www.sanyo.com/-- is one of the world's leading
manufacturers of consumer electronics products.  The company has
global operations in Brazil, Germany, India, Ireland, Spain, the
United States and the United Kingdom, among others.

                          *     *     *

In March 2, 2007, Fitch Ratings placed SANYO Electric Co. Ltd.'s
BB+ long-term foreign and local currency issuer default and
senior unsecured ratings on rating watch negative.


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


ALITALIA SPA: Air France-KLM Opens Door for Possible Talks
----------------------------------------------------------
Air France-KLM welcomed talks over a possible acquisition of the
Italian government's stake in Alitalia S.p.A., Thomson Financial
reports.

"We remain attentive and if we are contacted we will listen,"
Pierre-Henri Gourgeon, Air France-KLM Managing Director, was
quoted by Thomson Financial as saying.

As reported in the TCR-Europe on Aug. 9, 2007, Alitalia chairman
Maurizio Prato commenced the search for potential bidders for
the Italian government's stake in the troubled carrier, and may
meet representatives for Air France-KLM, Lufthansa, and
Aeroflot.

The chairman has also started informal talks with TPG Inc.,
MatlinPatterson Global Advisers LLC and AirOne S.p.A. -- all
bidders from the failed auction to privatize Italy's 39.9%
stake.

Italy terminated the sale process in July 2007 after AP Holding
S.p.A., a consortium of AirOne S.p.A. and Intesa-San Paolo
S.p.A., withdrew its bid to acquire the stake.  AP Holding said
that after reviewing the terms and conditions of the sale, it
will not submit a binding offer for the stake.

The consortium was the last to drop out from the bidding melee
after the team of OAO Aeroflot and Unicredit Italiano S.p.A.
left the bidding process.  A consortium of TPG Capital,
MatlinPatterson Global Advisers LLC and Mediobanca S.p.A. had
also pulled out from the race before MatlinPatterson re-entered
with its own bid.

The bidders had been apprehensive of the bidding conditions set
by the Italian government and had cited these requirements as
reasons for their withdrawal.

                          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.  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 posted EUR93 million in
net profits in 2002 after a EUR1.4 billion capital injection.
The carrier booked annual net losses of EUR520 million in 2003,
EUR813 million in 2004, and EUR168 million in 2005.


PARMALAT SPA: Says U.S. Cases Independent from Dismissed Suits
--------------------------------------------------------------
Parmalat S.p.A. says the cases dismissed by the Honorable Lewis
Kaplan of the U.S. District Court for the Southern District of
New York were independent from its lawsuits pending at the same
court.

Judge Kaplan in New York dismissed on Aug. 9, 2007, two lawsuits
filed by the administrator for Parmalat U.S.A. and the
litigation trustee for Farmland Diaries LLC against Bank of
America Corp. and Credit Suisse Group, Andrew Davis writes for
Bloomberg News.

According to Parmalat, Parmalat U.S.A. and Farmland Dairies LLC
filed for bankruptcy in the United States on Feb. 24, 2004, and
were consequently forced out of the Parmalat Group.

                        About Parmalat

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

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

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

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

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

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


TEXCHEM RESOURCES: 2nd Qtr Profit Up on Gains from Unit Disposal
----------------------------------------------------------------
Texchem Resources Bhd's net profit doubled to MYR6.57 million in
the second quarter ended June 30, 2007, from MYR3.22 million a
year earlier, mainly due to an exceptional gain of MYR6.2
million from the disposal of Texchem Consumers Sdn Bhd, The Edge
Daily reports, citing the company's disclosure with the Bursa
Malaysia Securities Bhd.

Revenue fell to MYR306.08 million from MYR323.03 million mainly
due to the disposal of TCSB and lower sales volume achieved by
the family care, packaging and industrial divisions, which were
mitigated by higher sales from the food division, the newspaper
relates.

The company declared an interim dividend of 6% less tax.

Meanwhile, for the six-month period to June 30, Texchem's net
profit fell to MYR5.68 million from MYR7.63 million a year
earlier, while revenue fell 2.9% to MYR611.15 million from
MYR629.59 million.  Earnings per share declined to 4.57 sen from
6.15 sen.

"The first six months of this year was quite challenging," said
Texchem's president and chief operating officer, Jeffrey Lee.
"We appear to be turning the corner in our Myanmar seafood
processing operations, having addressed some structural and
operational issues, and built stronger disciplines and
efficiency.  The performance for the food division as a whole is
quite encouraging. However the good news from elsewhere is
offset by tough business conditions in both the industrial and
packaging divisions. Both are experiencing reduced sales
volumes.  We are looking at scaling back expenses as well as
ensuring we maximise returns by improving efficiencies. Quality
and efficiency will be the watchwords as some of the challenges
are unlikely to abate in the near term," he added.

The group's industrial division recorded a lower operating
profit compared to last year, a drop of 4.4% to MYR6.5 million
from MYR6.8 million.

According to the company, the decline in profit was mainly due
to the persistent high prices of chemical products and slowing
demand caused by the deceleration of manufacturing industry's
growth.  As such, the division was looking at growing beyond
Malaysia in order to sustain the business as well as to improve
on the growth potential.

The group's packaging division recorded a 56.6% decline in its
operating profit to MYR5.3 million from MYR12.2 million recorded
in the first half of 2006.

Texchem said the group was working on building a new factory
that would consolidate all the other manufacturing operations in
Thailand in preparation for future expansion plans.  The company
added that its family care division's operating profit rose
23.9% to MYR5.7 million in the first half of the year from
MYR4.6 million a year earlier.

Texchem said the food division was beginning to show positive
results, and recorded an operating profit of MYR500,00 compared
to the previous loss of MYR500,000 in the first half of 2006.

                     About Texchem Resources

Headquartered in Penang Malaysia, Texchem Resources Berhad --
http://www.texchemgroup.com/-- is principally engaged in
trading in industrial chemicals and other products.  Its other
activities include manufacturing of family care products and
household insecticides and distribution and marketing of a wide
range of consumer and family care products; manufacturing and
marketing of raw surimi, fishmeal, feedmeal and seafood
products; manufacturing and selling of packaging products for
the electronics, electrical, semiconductor and disk drive
industries and investment holding.  The Group's operations are
located in Malaysia, Thailand, Singapore, Indonesia, China,
Vietnam, Myanmar and Italy.

Texchem is currently undergoing a financial rationalization and
restructuring program, which involves the disposal of a number
of dormant subsidiaries.


TITANIUM METALS: Earns US$76.3 Million in Second Quarter 2007
-------------------------------------------------------------
Titanium Metals Corporation reported that its net income
attributable to common stockholders increased 41% to
US$76.3 million for the quarter ended June 30, 2007, compared to
US$54.3 million for the quarter ended June 30, 2006.

The company's net sales increased 13% from US$300.9 million
during the second quarter of 2006 to US$341.2 million during the
second quarter of 2007 due primarily to increases in average
selling prices and favorable changes in product mix.

Operating income increased 26% to US$118 million for the quarter
ended June 30, 2007 compared to US$93.6 million for the quarter
ended June 30, 2006.

The company's sales order backlog at the end of June 2007 was
US$1 billion compared to US$1 billion at the end of March 2007
and US$0.9 billion at the end of June 2006.

The company reported total assets of US$1.2 billion, total
liabilities of US$316.7 million, and total stockholders' equity
of US$878.9 million as of June 30, 2007.

Full-text copies of the company's financials are available for
free at http://researcharchives.com/t/s?225f

Steven L. Watson, vice chairman and chief executive officer,
said, "We continue to see long-term favorable demand trends
across all of our primary markets.  Our facilities are operating
at high capacity levels that improve cost efficiency,
contributing to our record levels of operating income.  While
our near-term focus remains on maximizing our existing
productive capacity through initiatives that emphasize
efficiency, innovation and technological advances, we are also
continuing our efforts to expand our productive capacity across
all areas of our manufacturing operations.  We are committed to
maintaining the certainty, quality and reliability of supply to
service the expanding needs of our current and prospective
customers.

"Our 4,000 metric ton Vacuum Distillation Process ("VDP") sponge
expansion in Henderson, Nevada commenced commercial production
in April 2007, and we expect to be operating at full annual
capacity of approximately 12,600 metric tons by the end of the
third quarter of 2007.  As part of our plans to assure our
future supply of raw materials, we are continuing our design,
engineering and site selection for a new VDP premium-grade
sponge facility.  We are also continuing to explore and pursue
additional third-party long-term sources of sponge and scrap.

"Our electron beam cold hearth ("EB") melt capacity addition in
Morgantown, Pennsylvania of approximately 8,500 metric tons,
annually, is on schedule for an anticipated completion date of
early 2008.  We also commenced efforts to add a similar EB
furnace at our Morgantown, Pennsylvania facility, scheduled to
be completed in the last half of 2009.  During 2007 we have also
commenced construction of additional vacuum arc remelt ("VAR")
capacity additions at our Witton, Morgantown and Savoie
locations, all of which are expected to be completed by the end
of the second quarter of 2008.  Upon completion, these melt
capacity additions will increase our EB melt capacity by
approximately 107% and will increase our VAR capacity by
approximately 34%.  As we continue to adjust our long-term
business plan in response to industry trends, we will consider
more additions to our melt capacity based on our raw material
sources and product mix.

"We have numerous other capital projects in process to improve
and expand our productive capacity for scrap recycling and
production of mill products.  We also continue to evaluate
opportunities to enter into long-term conversion agreements with
third parties to address certain areas of additional or expanded
manufacturing requirements as an alternative to the addition or
expansion of our internal manufacturing capacity.  Our ongoing
and planned expansions of sponge and melt capacities, as well as
our efforts to expand our key relationships with third-parties,
allow TIMET to remain positioned to effectively utilize
available resources to strategically invest in our business to
achieve profitable growth and return on invested capital.  We
continue to emphasize initiatives that will increase our
participation in downstream value-added products and services
which are expected to provide strong operating results."

                   About Titanium Metals Corp.

Based in Dallas, Texas, Titanium Metals Corp. (NYSE: TIE) --
http://www.timet.com/-- produces titanium melted and mill
products.  It offers titanium sponge, melted products, mill
products, and industrial fabrications.  The company has
substantial operations located in the United Kingdom, France and
Italy and sales offices in Australia, China, Japan, Saudi
Arabia, India, and Taiwan.

                          *     *     *

Titanium Metals carries Moody's Investors Services' Caa1 issuer
rating and B3 Long-Term corporate family rating.


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


ABRIS LLP: Proof of Claim Deadline Slated for Sept. 18
------------------------------------------------------
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Abris insolvent on June 29.

Creditors have until Sept. 18 to submit written proofs of claims
to:

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


AGRO SERVICE-ALLIANCE: Creditors Must File Claims Sept. 18
----------------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty has
declared LLP Agro Service-Alliance (RNN 091400210796) insolvent
on June 25.

Creditors have until Sept. 18 to submit written proofs of claims
to:

         The Specialized Inter-Regional Economic Court of Almaty
         Makatayev Str. 196-36
         Almaty
         Kazakhstan
         Tel: 8 (3272) 79-86-66
              8 (3272) 79-86-76


ENERGOMATERIAL: Claims Filing Period Ends Sept. 13
--------------------------------------------------
The Specialized Inter-Regional Economic Court of Akmola has
declared LLP Energomaterial insolvent on June 19.

Creditors have until Sept. 13 to submit written proofs of claims
to:

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


JAGUAR LLP: Creditors' Claims Due on Sept. 13
---------------------------------------------
The Specialized Inter-Regional Economic Court of Akmola has
declared LLP Jaguar insolvent on June 19.

Creditors have until Sept. 13 to submit written proofs of claims
to:

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


KAM CJSC: Claims Registration Ends Sept. 20
-------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty has
declared CJSC Kam insolvent.

Creditors have until Sept. 20 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Almaty
         Shelehov str. 187a- 32
         Almaty
         Kazakhstan
         Tel: 8 (3272) 32-83-39
              8 701 460 17-71


KUSTANAI-TEMIR LLP: Proof of Claim Deadline Slated for Sept. 13
---------------------------------------------------------------
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Kustanai-Temir insolvent.

Creditors have until Sept. 13 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Kostanai
         Tolstoy Str. 74
         Kostanai
         Kazakhstan


S-EXPERT LLP: Creditors Must File Claims Sept. 12
-------------------------------------------------
The Specialized Inter-Regional Economic Court of East Kazakhstan
has declared LLP S-Expert insolvent on June 21.

Creditors have until Sept. 12 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of East Kazakhstan
         Ushanov Str. 78-27
         Ust-Kamenogorsk
         East Kazakhstan
         Kazakhstan
         Tel: 8 (3232) 26-24-41



VOSTOK LEASING: Claims Filing Period Ends Sept. 12
--------------------------------------------------
The Specialized Inter-Regional Economic Court of East Kazakhstan
has declared LLP Investment Company - Vostok Leasing Invest
insolvent.

Creditors have until Sept. 12 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of East Kazakhstan
         Ushanov Str. 78-27
         Ust-Kamenogorsk
         East Kazakhstan
         Kazakhstan
         Tel: 8 (3232) 26-24-41


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


CHAN LLC: Proof of Claim Deadline Slated for September 27
---------------------------------------------------------
LLC Chan has declared insolvency.  Creditors have until Sept. 27
to submit written proofs of claim to:

         LLC Chan
         Ibraimov Str. 33-95
         Bishkek
         Kyrgyzstan
         Tel: (+996 312) 65-75-78


INTOURIST LLC: Creditors Must File Claims by September 27
---------------------------------------------------------
LLC Intourist has declared insolvency.  Creditors have until
Sept. 27 to submit written proofs of claim to:

         LLC Intourist
         Togolok Moldo Str. 15
         Cholpon-Ata
         Issyk-Kul
         Kyrgyzstan


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


HUNTSMAN CORP: Messrs. Matlin & Pechock Quit from Board
-------------------------------------------------------
Huntsman Corporation announced the resignation of David J.
Matlin and Christopher R. Pechock from Huntsman Corporation's
board of directors, effective Aug. 8, 2007.  Both Matlin and
Pechock are principals of MatlinPatterson Global Advisers LLC,
certain affiliates of which recently completed the sale of
approximately 57 million shares of Huntsman Corporation common
stock pursuant to an underwriting agreement announced by the
company on Aug. 2, 2007.

Jon M. Huntsman, Chairman and Founder of Huntsman Corporation,
said, "On behalf of the Board, we express our appreciation for
the years of service Mr. Matlin and Mr. Pechock have rendered on
the Board of Huntsman Corporation."

David J. Matlin, CEO of MatlinPatterson Global Advisers LLC,
commented, "It has been a wonderful experience to be involved
with such a fine group of directors, officers and managers.  We
leave the Board, not because of any disagreement with the Board
or the Company, but because our firm last week sold over 70% of
its stock holdings, leaving it with an ownership percentage of
less than 10% of the Huntsman equity."

Affiliates of MatlinPatterson Global Advisers LLC continue to
hold an interest in shares of Huntsman common stock by way of a
beneficial interest in HMP Equity Trust.  Pursuant to the terms
of a Voting Agreement dated July 12, 2007, they have agreed,
subject to certain exceptions, to retain ownership and vote
approximately 19.9 million shares in favor of the Agreement and
Plan of Merger with Hexion Specialty Chemicals, Inc.

                       About Huntsman

Huntsman Corp. -- http://www.huntsman.com/-- manufactures and
markets differentiated and commodity chemicals.  Its operating
companies manufacture products for a variety of global
industries including chemicals, plastics, automotive, aviation,
textiles, footwear, paints and coatings, construction,
technology, agriculture, health care,  detergent, personal care,
furniture, appliances and packaging.  Originally known for
pioneering innovations in packaging and, later for rapid and
integrated growth in petrochemicals, Huntsman today has
operations in 24 countries, including Argentina, Belarus,
Japan, Luxembourg, Malaysia, Spain and the United Kingdom, among
others.  The company had 2006 revenues from all operations of
over US$13 billion.

                       *     *     *

As reported in the Troubled Company Reporter on June 28, 2007,
Moody's Investors Service placed the debt ratings and the
corporate family ratings (CFR -- Ba3) for Huntsman Corporation
and Huntsman International LLC, a subsidiary of Huntsman under
review for possible downgrade.


ELEKTRIM S.A.: Files Bankruptcy Petition in Warsaw Court
--------------------------------------------------------
Elektrim S.A. filed for bankruptcy protection in a court in
Warsaw on Aug. 10, 2007, after its second debt restructuring
talks with bondholders failed, BBC News reports.

According to the report, Elektrim reached a debt restructuring
deal with its bondholders in July 2002.  However, the telecoms-
to-utilities conglomerate defaulted on its first payment of
EUR100 million earlier this month.

Analysts say the bankruptcy filing may help pave the way for
more negotiations with creditors.

Elektrim, whose assets are almost entirely held in collateral
for EUR725 million owed to bondholders, wanted to ensure “fair
payment to its creditors,” Polish News Bulletin relates citing
the Financial Times as its source.

Polish News Bulletin revealed Elektrim is demanding a EUR40
million compensation from Vivendi alongside the bankruptcy
petition to cover legal costs in a row over the transfer of
shares of Polska Telfonia Cyfrowa Sp. z o.o. to Deutsche Telekom
AG.

Elektrim is also seeking a ruling on its disputed assets, which
include a controlling stake in power group PAK, AFX News states.

                        Covenant Breaches

In November 2005, an English court rejected Elektrim's appeal on
a decision declaring it in breach of bond conditions.  The Court
ordered Elektrim in September 2005 to immediately buy back
EUR471.4 million of bonds for having broken a restructuring
agreement signed in 2002.  Holders demanded immediate buyout of
their bonds, which was worth EUR470 million.  Elektrim was
due to redeem the bonds on Dec. 15, 2005, but failed to do so.

Elektrim said it was impossible to redeem the bonds since the
court has frozen its assets.  Bondholders filed the motion to
freeze Elektrim's assets, fearing the group would hide its
assets and declare bankruptcy to avoid repaying its debt.  The
company said it would repay the debt if the collateral were
canceled.

On Sept. 29, 2006, Elektrim filed a bankruptcy petition with the
possibility of an arrangement, five days before its creditors
were set to launch a lawsuit over the filing.  Creditors
were demanding the company's liquidation and the introduction of
an official bankruptcy assignee since they have not received
payments from the company for nearly two years.

However, a Court in Warsaw rejected the bankruptcy petition for
Elektrim S.A. filed by the company's creditors and Elektrim
Telekomunikacja, following a partial repayment of the company's
debt.

                          Vivendi Suit

In June 2007, Vivendi Holdings 1 Corp., the assignee of all
claims held by, among others, General Motors Corp. with respect
of its holding, through Everest Capital Ltd., of Elektrim
Finance BV 2% EUR510,000,000 bonds due Dec. 18, 2005, filed suit
in the United States District Court for the Southern District of
Florida against:

  -- Law Debenture Trust Corporation, Plc (U.K.) for Breach of
     Fiduciary Duty and Breach of Contract, and

  -- Elekrim S.A. for Fraud and Breach of Contract.

LDTC served as Elektrim's bond trustee.

Among other things, the Complaint alleges that LDTC:

   (i) breached its fiduciary duty to General Motors and
       other Elektrim bondholders and

  (ii) breached the Second Supplemental Trust Deed, when
       it failed to disclose material information to
       the bondholders prior to the bondholders' decision
       to withdraw their bankruptcy petition against
       Elektrim and when it knowingly accepted proceeds of
       an illegal transaction.

The Complaint sought damages and an injunction requiring LDTC to
hold in escrow the proceeds relating to the illegal transfer to
Deutsche Telekom AG of shares of Polska Telfonia Cyfrowa Sp. z
o.o. under an option agreement.

                      Bondholder Litigation

The TCR-Europe reported on June 20, 2007, that Bingham McCutchen
LLP obtained judgment for the holders of Elektrim's EUR510
million bonds, after a hearing before Mr. Justice Lewison in the
High Court of England and Wales.

The decision, issued on June 15, 2007, represents a significant
victory for bondholders after almost five years of litigation
around the world, including Poland, the Netherlands, Germany and
more recently the United States.  Judge Lewison directed the
bond trustee, The Law Debenture Trust Corporation plc, to
distribute forthwith to the bondholders more than EUR500
million.

Importantly for future cases, the judge also endorsed a
bondholder resolution providing for the bondholder committee to
recover nearly EUR7 million of legal costs incurred over the
past five years in litigation to recover their investment.

                        About Elektrim

Headquartered in Warsaw, Poland, Elektrim S.A. --
http://www.elektrim.pl/-- engages in the power and
telecommunication businesses.  In addition to its core business
activities, Elektrim also manufactures sells cables, and
provides data transmission services.


=============
R O M A N I A
=============


ABROM SA: Completes Six-Month Voluntary Liquidation Period
----------------------------------------------------------
Abrom S.A. has completed its six-month liquidation period on
Aug. 1, 2007, with the company's closing pending plans to go
private, Bursa online reports, citing Newsln as its source.

The State Asset Recovery Authority noted the company's complete
reorganization, including the termination of all its employees.
If privatized, Bursa relates, the buyer is obliged to hire back
all employees and maintain Abrom’s core business, which is the
production of different abrasive products.

Nine potential bidders have expressed interest in Abrom's third
attempt at privatization after the company failed to secure a
bidder during its first two tenders.  According to the report,
the company's selling price was lowered by 20% after the first
tender and will be lowered by 40% compared to the initial price
for the third tender.

Headquartered in Barlad, Romania, Abrom manufactures abrasives.
It initiated voluntary liquidation after it failed to pay
overdue debts to the Romanian State and raw material suppliers.
Abrom reported debts of up to ROL28.1 million.


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


B.@D. URALSK: Creditors Must File Claims by August 21
-----------------------------------------------------
Creditors of CJSC B.@D. Uralsk Limited have until Aug. 21 to
submit proofs of claim to:

         A. Stukalov
         Insolvency Manager
         Lenina Pr. 14, 16
         454007 Chelyabinsk
         Russia

The Arbitration Court of Chelyabinsk commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A76-6306/2007-34-92.

The Court is located at:

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

The Debtor can be reached at:

         CJSC B.@D. Uralsk Limited
         Osvobozjdenija Urala Str. 27
         Karabash
         Chelyabinsk
         Russia


BALAKIREVO-WOOD CJSC: Creditors Must File Claims by Sept. 21
------------------------------------------------------------
Creditors of CJSC Balakirevo-Wood have until Sept. 21 to submit
proofs of claim to:

         M. Klimov
         Insolvency Manager
         Post User Box 79
         600000 Vladimir
         Russia

The Arbitration Court of Vladimir commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A-11-6365/2001-K1-251B/8B.

The Court is located at:

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

The Debtor can be reached at:

         M. Klimov
         Insolvency Manager
         Post User Box 79
         600000 Vladimir
         Russia


BEREZOVO LLC: Creditors Must File Claims by August 21
-----------------------------------------------------
Creditors of LLC Berezovo have until Aug. 21 to submit proofs of
claim to:

         S. Papenko
         Temporary Insolvency Manager
         Post User Box 7
         390029 Ryazan
         Russia

The Arbitration Court of Ryazan will convene at 11:00 a.m. on
Oct. 23 to hear the company’s bankruptcy supervision procedure.
The case is docketed under Case No. A54-2189/2007-s6.

The Court is located at:

         The Arbitration Court of Ryazan
         Pochtovaya Str. 43/44
         Ryazan
         Russia

The Debtor can be reached at:

         LLC Berezovo
         Berezovo
         Shilovskiy
         Ryazan
         Russia


BREAD-SERVICE CJSC: Moscow Bankruptcy Hearing Slated for Oct. 25
----------------------------------------------------------------
The Arbitration Court of Moscow will convene at 10:00 a.m. on
Oct. 25 to hear the bankruptcy supervision procedure on CJSC
Bread-Service.  The case is docketed under Case No. A41-K2-
9696/07.

The Temporary Insolvency Manager is:

         A. Bondarev
         Kosmonavtov Pr., 29/12, 35.
         Korolev
         141080 Moscow
         Russia

The Court is located at:

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

The Debtor can be reached at:

         CJSC Bread-Service
         Chajkovskogo Str. 8
         Pushkino
         141200 Moscow
         Russia


BUILDER-TATARSTAN LLC: Names V. Staroverov as Insolvency Manager
----------------------------------------------------------------
The Arbitration Court of Tatarstan appointed V. Staroverov as
Insolvency Manager for LLC Builder-Tatarstan.  He can be reached
at:

         V. Staroverov
         Post User Box 658
         Kazan
         420032 Tatarstan
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case
No. A65-6038/2006-SG4-16.

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:

         LLC Builder-Tatarstan
         Nizhnekamsk
         Tatarstan
         Russia


COUNTRY-HALL OJSC: Creditors Must File Claims by September 21
-------------------------------------------------------------
Creditors of OJSC Country-Hall (TIN 7612033622, OGRN
1047602011786) have until Sept. 21 to submit proofs of claim to:

         E. Fedorova
         Insolvency Manager
         To be called for Ms. I. Fedorova
         125009 Moscow
         Russia

The Arbitration Court of Yaroslavl commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A82-1080/07-3-B/7.

The Debtor can be reached at:

         OJSC Country-Hall
         Office 430
         Yaroslavskaya Str., 50
         Uglich
         152612 Yaroslavl
         Russia


ENERGO OJSC: Creditors Must File Claims by September 21
-------------------------------------------------------
Creditors of OJSC Energo have until Sept. 21 to submit proofs of
claim to:

         I. Gorn
         Insolvency Manager
         Post User Box 183
         127018 Moscow
         Russia

The Arbitration Court of Moscow commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A41-K2-22819/06.

The Court is located at:

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

The Debtor can be reached at:

         OJSC Energo
         Sovetskaya STr. 4a
         Voskresensk
         Moscow
         Russia


EURO-ASIAN INSURANCE: Court Starts Bankruptcy Supervision
---------------------------------------------------------
The Arbitration Court of Sverdlovsk commenced bankruptcy
supervision procedure on OJSC Euro-Asian Insurance Company.
The case is docketed under Case No. A60-7140/07-S11.

The Temporary Insolvency Manager is:

         A. Vyal’
         Post User Box 137
         Taganskaya Str. 51
         620051 Ekaterinburg
         Russia

The Court is located at:

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

The Debtor can be reached at:


         OJSC Euro-Asian Insurance Company
         Kujbysheva Str. 10
         620144 Ekaterinburg
         Russia


INTEGRAL OJSC: Ulyanovsk Bankruptcy Hearing Slated for Sept. 6
--------------------------------------------------------------
The Arbitration Court of Ulyanovsk will convene at 9:15 a.m.
on Sept. 6 to hear the bankruptcy supervision procedure on
OJSC Integral.  The case is docketed under Case No. A72-10432/
05-19/68-b.

The Temporary Insolvency Manager is:

         S. Balandin
         Engelsa Str. 19
         432063 Ulyanovsk
         Russia

The Debtor can be reached at:

         OJSC Integral
         Moskovskoe Shosse 100
         Ulyanovsk
         Russia


ISTOCHNIK-3 LLC: Creditors Must File Claims by August 21
--------------------------------------------------------
Creditors of LLC Istochnik-3 have until Aug. 21 to submit proofs
of claim to:

         E. Figurova
         Temporary Insolvency Manager
         Post User Box 105-5
         690105 Vladivostok
         Russia

The Arbitration Court of Primorye will convene at 2:00 p.m. on
Dec. 13 to hear the company's bankruptcy supervision procedure.
The case is docketed under Case No. A51-5778/2007 11-71.

The Debtor can be reached at:

         LLC Istochnik-3
         Nagornaya Str. 1a
         Partizansk
         Primorye
         Russia


KARAKULSKOE CJSC: Asset Sale Slated for August 22
-------------------------------------------------
The insolvency manager and bidding organizer CJSC Karakulskoe,
will open a public auction for the company's properties at
2:00 p.m. on Aug. 22 at:

         The Insolvency Manager and Bidding Organizer
         Kirova Str. 118
         Chelyabinsk
         Russia

The case is docketed under Case No. A76-20218/2006-52-186.

The company has set a RUR4,453,525 starting price for the
auctioned assets.

Interested participants have until Aug. 20 to deposit an amount
fo RUR850,000 to:

         CJSC Karakulskoe
         Settlement Account 407002810700060009142
         Correspondent Account 30101810400000000779
         BIK 047501779
         OJSC Chelyab-invest-bank

Bidding documents must be submitted to:

         The Insolvency Manager and Bidding Organizer
         Kirova Str. 118
         Chelyabinsk
         Russia

The Debtor can be reached at:

         CJSC Karakulskoe
         Karakulskoe
         Oktyabrskiy
         Chelyabinsk
         Russia


MOTOR-OIL LLC: Creditors Must File Claims by August 21
------------------------------------------------------
Creditors of LLC Motor-Oil (TIN 7217007090) have until
Aug. 21 to submit proofs of claim to:

         K. Kiselevskiy
         Insolvency Manager
         13th floor
         K. Libknekhta Str. 35
         644043 Omsk
         Russia

The Arbitration Court of Tyumen commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A70-7783/23-2006.

The Court is located at:

         The Arbitration Court of Tyumen
         Khokhryakova Str. 77
         627000 Tyumen
         Russia

The Debtor can be reached at:

         LLC Motor-Oil
         Pervomayskaya Str. 23
         625000 Tyumen
         Russia


NIZHNEKISLYAYSKOE OJSC: Court Starts Bankruptcy Supervision
-----------------------------------------------------------
The Arbitration Court of Voronezh commenced bankruptcy
supervision procedure on OJSC Nizhnekislyayskoe.  The case is
docketed under Case No. A14-3396-07 13/27b.

The Temporary Insolvency Manager is:

         E. Semenova
         Post User Box 345
         113230 Moscow-230
         Russia

The Court is located at:

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

The Debtor can be reached at:

         OJSC Nizhnekislyayskoe
         Zavodskaya Str. 37
         397535 Voronezh
         Russia


PRIAZOVYE CJSC: Creditors Must File Claims by September 21
-----------------------------------------------------------
Creditors of CJSC Priazovye have until Sept. 21 to submit proofs
of claim to:

         E. Slushkin
         Insolvency Manager
         Post User Box 1034
         400105 Volgograd
         Russia

The Arbitration Court of Krasnodar commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A32-16101/2006-1/875B.

The Court is located at:

         The Arbitration Court of Krasnodar
         Krasnaya Str. 6
         Krasnodar
         Russia

The Debtor can be reached at:

         CJSC Priazovye
         Mira Str. 1
         Novoderevyankovskaya
         Kanevskiy
         353710 Krasnodar
         Russia


VOLGOTANKER OAO: EUR3.34 Bln Tax Claim Sinks Firm to Bankruptcy
-------------------------------------------------------------
The Moscow Arbitration Court commenced bankruptcy proceedings
against OAO Volgotanker after upholding a EUR3.34 billion tax
claim by the Russian Federal Tax Service, various reports say.

The court also appointed Alexander Volzhanin as supervisory
manager for Volgotanker, The Moscow Times reports.

According to Kommersant, Mr. Volzhanin will review Volgotanker's
financial situation and call a meeting, in which creditors will
decide whether to reorganize the company's finances or liquidate
its assets.

The Federal Tax Service filed tax claims against Volgotanker in
2004 after finding that that company illegally refunded export
VAT from the budget, Kommersant relates.

According to the report, the tax service filed a RUR4 billion
claim for unpaid taxes in 2001 to 2005.  The tax service also
filed two criminal cases against Volgotanker and had three
executives added to the international wanted list.

Volgotanker suspended its operations in 2006 after the tax
service seized 353 vessels from Volgotanker's fleet in 2005.

                           Asset Sale

The Federal State Property Fund is expected to auction the
company's bankruptcy assets in several lots, with United
Shipbuilding Corp. and Rosneft as potential bidders, Kommersant
reports.

The Property Fund had auctioned Volgotanker's five ships in May
2007 to recover a part of the debt, but canceled the sale in
July.

                       About the Company

JSC Volgotanker -- http://www.volgotanker.com/-- specializes in
the transportation of oil and petroleum products via Europe's
inland-waterway system.  Lloyds List says the company's fleet of
160 tankers, 57 oil-bulk-ore carriers and more than 100 barges
and tugs have been under arrest since August 2005.


ZLATOUST-METAL-PRODUCT: Creditors Must File Claims by Aug. 21
-------------------------------------------------------------
Creditors of declared CJSC Zlatoust-Metal-Product (TIN
7404004490) have until Aug. 21 to submit proofs of claim to:

         A. Fazlyev
         Insolvency Manager
         Post User Box 220
         Ufa
         450080 Bashkortostan
         Russia

The Arbitration Court of Chelyabinsk commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A76-5343/2007-60-64.

The Court is located at:

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

The Debtor can be reached at:

         CJSC Zlatoust-Metal-Product
         Zlatoust
         Chelyabinsk
         Russia


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


ARNOLD SCHMID: Schwyz Court Closes Bankruptcy Proceedings
---------------------------------------------------------
The Bankruptcy Service of March in Schwyz entered July 17 an
order closing the bankruptcy proceedings of JSC Arnold Schmid.

The Bankruptcy Service of March can be reached at:

         Bankruptcy Service of March
         8853 Lachen
         March SZ
         Switzerland

The Debtor can be reached at:

         JSC Arnold Schmid
         Bahnhofstr. 39
         8854 Siebnen-Wangen
         Switzerland


CAFE CONFISERIE: Lucerne Court Closes Bankruptcy Proceedings
------------------------------------------------------------
The Bankruptcy Service of Willisau in Lucerne entered July 11 an
order closing the bankruptcy proceedings of LLC Cafe Confiserie
Brun.

The Bankruptcy Service of Willisau can be reached at:

         Bankruptcy Service of Willisau
         6130 Willisau LU
         Switzerland

The Debtor can be reached at:

         LLC Cafe Confiserie Brun
         Entlebucherstrasse 14
         6110 Wolhusen
         Sursee LU
         Switzerland


GUB IMMOBILIEN: Zug Court Closes Bankruptcy Proceedings
-------------------------------------------------------
The Bankruptcy Service of Zug entered July 16 an order closing
the bankruptcy proceedings of JSC GUB Immobilien.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC GUB Immobilien
         Baarerstrasse 135
         6300 Zug
         Switzerland


H. STEINMANN: Zug Court Closes Bankruptcy Proceedings
-----------------------------------------------------
The Bankruptcy Service of Zug entered July 11 an order closing
the bankruptcy proceedings of LLC H. Steinmann Radio-TV.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         LLC H. Steinmann Radio-TV
         Zugerstrasse 4
         6314 Unterageri
         Switzerland


ITFABRIXX JSC: Zug Court Closes Bankruptcy Proceedings
------------------------------------------------------
The Bankruptcy Service of Zug entered July 9 an order closing
the bankruptcy proceedings of JSC ITfabrixx.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC ITfabrixx
         Neuhofstrasse 25
         6340 Baar ZG
         Switzerland


JAGER UND BONDERER: Court Starts Bankruptcy Proceedings
-------------------------------------------------------
The Bankruptcy Court of St. Gallen commenced bankruptcy
proceedings against JSC Jager und Bonderer on July 13.

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

         Bankruptcy Service of St. Gallen
         Branch Buchs
         Arthur Kollegger
         9471 Buchs
         Werdenberg SG
         Switzerland

The Debtor can be reached at:

         JSC Jager und Bonderer
         Wasen 8
         7315 Vattis
         Switzerland


PHORA JSC: Zug Court Closes Bankruptcy Proceedings
--------------------------------------------------
The Bankruptcy Service of Wallisellen in Zurich entered July 4
an order closing the bankruptcy proceedings of JSC Phora.

The Bankruptcy Service of Wallisellen can be reached at:

         Bankruptcy Service of Wallisellen
         8304 Wallisellen
         Bulach ZH
         Switzerland

The Debtor can be reached at:

         JSC Phora
         Industriestr. 31
         8305 Dietlikon
         Bulach ZH
         Switzerland


SLP - LOGISTIK: Creditors' Liquidation Claims Due October 13
------------------------------------------------------------
Creditors of LLC SLP-Logistik have until Oct. 13 to submit their
claims to:


         Trulec Zvonko
         Liquidator
         Zentralstr. 182
         5430 Wettingen
         Baden AG
         Switzerland

The Debtor can be reached at:

         LLC SLP-Logistik
         Wettingen
         Baden AG
         Switzerland


TEAM BILAND: Creditors' Liquidation Claims Due September 17
-----------------------------------------------------------
Creditors of JSC Team Biland Kart-Power have until Sept. 17 to
submit their claims to:


         Martin F. Nussbaum
         Liquidator
         Hinter der Burg 2
         3600 Thun BE
         Switzerland

The Debtor can be reached at:

         JSC Team Biland Kart-Power
         Oftringen
         Zofingen AG
         Switzerland


UNION DATA: Solothurn Court Closes Bankruptcy Proceedings
---------------------------------------------------------
The Bankruptcy Service of Oensingen in Solothurn entered July 16
an order closing the bankruptcy proceedings of JSC Union Data
Trading.

The Bankruptcy Service of Oensingen can be reached at:

         Bankruptcy Service of Oensingen
         4702 Oensingen
         Gau SO
         Switzerland

The Debtor can be reached at:

         JSC Union Data Trading
         Leuzigenstrasse 5
         4571 Luterkofen
         Switzerland


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


AVANGARD STYLE: Creditors Must File Claims by August 15
-------------------------------------------------------
Creditors of LLC Avangard Style (code EDRPOU 33306565) have
until Aug. 15 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 under Case No. 23/201-b.

The Debtor can be reached at:

         LLC Avangard Style
         Pobeda Avenue 136, 34
         03115 Kiev
         Ukraine


COMBO-PROFI LLC: Creditors Must File Claims by August 15
--------------------------------------------------------
Creditors of LLC Combo-Profi (code EDRPOU 33225544) have until
Aug. 15 to submit written proofs of claim to:

         Eugeny Golub
         Liquidator
         Andrew Ivanov Str. 21/17
         01010 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 15/437-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 Combo-Profi
         Bozhenko Str. 86N
         03150 Kiev
         Ukraine


EURO-UKRAINE LLC: Creditors Must File Claims by August 15
---------------------------------------------------------
Creditors of LLC Euro-Ukraine (code EDRPOU 32043569) have until
Aug. 15 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 under Case No. 23/207-b.

The Debtor can be reached at:

         LLC Euro-Ukraine
         Miloslavskaya Str. 39/48
         02094 Kiev
         Ukraine


EUROSTANDARD LLC: Creditors Must File Claims by August 15
---------------------------------------------------------
Creditors of LLC Eurostandard (code EDRPOU 32740251) have until
Aug. 15 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 under Case No. B 11/229-07.

The Debtor can be reached at:

         LLC Eurostandard
         Ac. Tupolev Str. 19
         Kiev
         Ukraine


IB INDUSTRY: Creditors Must File Claims by August 15
----------------------------------------------------
Creditors of LLC IB Industry (code EDRPOU 34297913) have until
Aug. 15 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 under Case No. 23/203-b.

The Debtor can be reached at:

         LLC IB Industry
         Pestel Str. 11
         Pavel
         03135 Kiev
         Ukraine


INVEST TRADING: Creditors Must File Claims by August 15
-------------------------------------------------------
Creditors of LLC Invest Trading (code EDRPOU 332294817) have
until Aug. 15 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 under Case No. 23/205-b.

The Debtor can be reached at:

         LLC Invest Trading (code EDRPOU 332294817)
         Pobeda Avenue 136, 34
         03115 Kiev
         Ukraine


IRIDA LLC: Creditors Must File Claims by August 15
--------------------------------------------------
Creditors of LLC Trade-Industrial Firm Irida (code EDRPOU
33237832) have until Aug. 15 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 under Case No. 23/206-b.

The Debtor can be reached at:

         LLC Trade-Industrial Firm Irida
         Pestel Str. 11
         Pavel
         03135 Kiev
         Ukraine


MOBITEX LLC: Creditors Must File Claims by August 15
----------------------------------------------------
Creditors of LLC Mobitex (code EDRPOU 32614628) have until
Aug. 15 to submit written proofs of claim to:

         LLC Prime-Inform
         Liquidator
         Melnikov Str. 9-A
         03170 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. B 11/227-07.

The Court is located at:

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


PHARMACY ELEGANT: Creditors Must File Claims by August 15
---------------------------------------------------------
Creditors of LLC Pharmacy Elegant (code EDRPOU 33154154) have
until Aug. 15 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 under Case No. 23/202-b.

The Debtor can be reached at:

         LLC Pharmacy Elegant
         Pestel Str. 11
         Pavel
         03135 Kiev
         Ukraine


PROMCOMPLECT-SERVICE LLC: Creditors Must File Claims by Aug. 15
---------------------------------------------------------------
Creditors of LLC Promcomplect-Service (code EDRPOU 32740272)
have until Aug. 15 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 under Case No. B 11/228-07.

The Debtor can be reached at:

         LLC Promcomplect-Service
         Apartment 34
         Pobeda Avenue 136
         03115 Kiev
         Ukraine


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


ACTUANT CORP: Paying US$0.08 Per Share Dividend on Oct. 15
----------------------------------------------------------
Actuant Corporation's Board of Directors has approved a cash
dividend on the Company's common stock.  The Board declared a
dividend of US$0.08 per common share payable on Oct. 15, 2007,
to shareholders of record at the close of business on
Sept. 28, 2007.

Headquartered in Butler, Wis., Actuant Corp. (NYSE: ATU) --
http://www.actuant.com/-- is a diversified industrial company
with operations in more than 30 countries including Australia,
China, Italy, United Kingdom, Brazil, among others.  The Actuant
businesses are market leaders in highly engineered position and
motion control systems and branded hydraulic and electrical
tools and supplies.  The company employs a workforce of more
than 6,700 worldwide.

                       *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 6, 2007, Moody's Investors Service assigned a Ba2 (LGD3,
43%) rating to Actuant Corporation's US$250 million senior
unsecured notes and affirmed the company's Ba2 Corporate Family
Rating.

Standard & Poor's Ratings Services assigned its 'BB-' rating to
Actuant Corp.'s proposed US$250 million senior unsecured notes
due 2017.  The proceeds from the notes will be principally used
to repay a portion of borrowings under the company's senior
credit facility due 2009.


ADVANCED MICRO: Prices US$1.5 Bln of 5.75% Convertible Sr. Notes
----------------------------------------------------------------
Advanced Micro Devices, Inc. has completed the pricing of US$1.5
billion aggregate principal amount of 5.75% Convertible Senior
Notes due 2012 in a private placement to qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933,
as amended.

AMD granted to the initial purchaser a 30-day option to purchase
up to US$225 million aggregate principal amount of additional
notes to cover over-allotments, if any.  Interest on the notes
will be paid semiannually on Feb. 15, 2007, and Aug. 15, 2007,
at a rate of 5.75% per year.

The notes will be convertible into shares of common stock based
on an initial conversion rate of 49.6771 shares per US$1,000
principal amount of notes, which is equivalent to an initial
conversion price of approximately US$20.13 per share.  This
initial conversion price represents a premium of approximately
50% relative to the last reported sale price on Aug. 8, 2007, of
AMD’s common stock of US$13.42 per share.  Holders of the notes
may require AMD to repurchase the notes for cash equal to 100%
of the principal amount to be repurchased plus accrued and
unpaid interest upon the occurrence of certain designated
events.

AMD estimates that the net proceeds from the offering will be
approximately US$1,479 million, or about US$1,701 million if the
initial purchaser exercises its over-allotment option in full,
after deducting discounts, commissions and estimated offering
expenses.

AMD intends to use the net proceeds of the offering, together
with available cash, to repay in full the outstanding balance of
the term loan AMD entered into with Morgan Stanley Senior
Funding, Inc. in October 2006.  If the initial purchaser
exercises its over-allotment option, AMD intends to use the
additional net proceeds for general corporate purposes,
including working capital and capital expenditures.

                            About AMD

Advanced Micro Devices Inc. -- http://www.amd.com/-- (NYSE:
AMD) designs and manufactures microprocessors and other
semiconductor products.

The company has a facility in Singapore.  It has sales offices
in Belgium, France, Germany, the United Kingdom, Mexico and
Brazil.

                             *   *   *

The TCR-Europe reported on Aug. 6, 2007, that Moody's Investors
Service has downgraded the ratings of Advanced Micro Devices'
US$390 million senior notes due 2012 to B2 from Ba2 and upgraded
the ratings of the US$1.6 billion term loan due 2013 to Ba1 from
Ba2.

Standard & Poor's Ratings Services affirmed its 'B/Negative/--'
corporate credit rating on Sunnyvale, California-based Advanced
Micro Devices Inc.  At the same time, Standard & Poor's lowered
the rating on the company's 7.75% senior notes due 2012 to 'B–'
from 'BB-', which is now rated the same as the company's other
senior unsecured notes, reflecting release of the collateral
securing the issue.

Fitch Ratings has assigned a 'CCC+/RR6' rating to Advanced Micro
Devices Inc.'s private placement of US$1.5 billion 5.75%
convertible senior notes due 2012.  The 'CCC+/RR6' rating also
applies to up to US$225 million of additional notes issued
within the next 30 days to cover over-allotments.  The 'BB-/RR2'
rating on AMD's US$1.69 billion Term Loan B due 2010 is affirmed
and withdrawn, as the company will use net proceeds from debt
issuance, as well as available cash, to fully repay the term
loan.


ARUN AUTO: A. Clifton Leads Liquidation Procedure
-------------------------------------------------
A. Clifton of DTE Leonard Curtis was appointed liquidator of
Arun Auto Services Ltd. on Aug. 2 for the creditors’ voluntary
winding-up procedure.

Creditors of the company are invited to send and prove their
claims in writing to the liquidator.

The liquidator can be reached at:

         DTE Leonard Curtis
         Bamfords Trust House
         85-89 Colmore Row
         Birmingham
         B3 2BB
         England


BRITISH ENERGY: Expects Heysham Nuclear Reactor to be Up Soon
-------------------------------------------------------------
British Energy Group plc's Heysham 2-7 nuclear reactor is
expected to resume service soon after an electrical fault shut
it down on Aug. 7, 2007, Reuters reports, quoting a company
spokesperson as saying.

"Inspections on Heysham 2-7 so far suggest that the unit will be
returned to service in the short term," the spokesperson said,
Reuters notes.  "We are still completing the inspection and may
take the opportunity to carry out additional maintenance," she
added.

She further said that any extra maintenance to be carried out on
the plant would not significantly extend the shutdown, Reuters
relates.

The 625-megawatt reactor, one of two units at the power station
in north-west England, tripped on Tuesday when the power supply
it needs to run properly failed, Reuters states.  BE brought two
nuclear plants located in Hunterston and Hinkley Point back from
long-term outages in the spring.

                      About British Energy

Headquartered in South Lanarkshire, British Energy Group plc --
http://www.british-energy.com/-- is the U.K.'s largest producer
of electricity.  With a workforce of about 6,000, it produces
around one-sixth of the nation's electricity.

                          *     *     *

As of July 26, 2007, British Energy Group plc carries a long-
term corporate family rating of B2 from Moody’s with a stable
outlook.

S&P rates British Energy’s long-term foreign and local issuer
credit at BB+ with negative outlook.

As reported in the TCR-Europe on March 1, 2007, Fitch Ratings
affirmed the 'BB' rating of British Energy Holdings plc's
amortizing bonds, guaranteed by the group's material operating
subsidiaries.  The Issuer Default ratings of BEH and British
Energy Group plc are affirmed at 'BB+'.  Fitch said the Outlooks
are Stable.


CENTRAL GARDEN: Earns US$15.5 Million in Third Quarter 2007
-----------------------------------------------------------
Central Garden & Pet Company reported net income of US$15.5
million for the third quarter ended June 30, 2007, compared to
net income of US$30.7 million in the year ago period.

The company also reported net sales of US$467 million for the
quarter, a decrease of 8% from US$507 million in the comparable
fiscal 2006 period.

Income from operations for the quarter was US$37.2 million,
versus US$59.9 million in the year ago period.

Operating results for the third quarter of fiscal 2006 included
a pre-tax net gain of US$9 million comprised of a US$9.9 million
gain from the Axelrod litigation settlement less expenses of
about US$900,000 associated with accelerated brand building and
other strategic opportunities.

For the nine months ending June 30, 2007 of fiscal 2007, the
company reported net sales of US$1.3 billion, an increase of
about 6% from US$1.2 billion in the comparable 2006 period.

Income from operations for the period was US$89.3 million versus
US$115.4 million in the comparable period.

                    Nine Month-Period Results

Net income for the nine month period was US$34 million, compared
to US$59.5 million in the year ago period.

Branded product sales increased 9% while sales of other
manufacturers' products declined 7%.  Depreciation and
amortization for the nine month period was US$21.9 million
compared to US$18.6 million in the year ago period.

Branded product sales decreased 7%.  Sales of other
manufacturers' products decreased 13%.  Depreciation and
amortization for the quarter was US$7.6 million compared to
US$7.5 million in the year ago period.

The company reported total assets of US$1.5 billion, total
liabilities of US$806.5 million, and total stockholders' equity
of US$727.4 million as of June 30, 2007.

Full-text copies of the company's financials are available for
free at http://researcharchives.com/t/s?2259

"2007 has been a challenging year for the company, and the
results we announced reflect the lowered expectations we
discussed in early June," said Glenn Novotny, president and
chief executive officer of Central Garden & Pet.  "As we noted
then, an extraordinary rise in grain prices and unfavorable
weather conditions across the United States created a 'perfect
storm'."

"This year's performance notwithstanding, we have a good
business.  We are fundamentally optimistic about a rebound in
2008 given the steps we are taking during this challenging time
to reduce costs and adjust buying and pricing strategies.  These
and other initiatives are designed to enable us to react more
quickly to dynamics in the marketplace.  Our objective is to be
more agile and better positioned for improved and more
consistent performance for our shareholders in fiscal 2008 and
beyond," Mr. Novotny continued.

                      About Central Garden

Headquartered in Walnut Creek, California, Central Garden & Pet
Company (NASDAQ: CENT) -- http://www.central.com/-- markets and
produces branded products for the lawn & garden and pet supplies
markets.  Products are sold to specialty independent and mass
retailers.  The company also provides a host of other regional
and application-specific garden and pet brands and supplies.
The company has approximately 5,000 employees, primarily in
North America and Europe.  The company has a presence in the
United Kingdom.  Sales were US$1.7 billion for the 12 months
ended March 31, 2007.

                         *     *     *

As reported in Troubled Company Reporter on June 13, 2007,
Moody's Investors Service placed the ratings of Central Garden &
Pet Company under review for possible downgrade.

The review was prompted by the company's announcement that
operating performance will be weaker than anticipated,
reflecting unfavorable weather conditions in the Southeastern
U.S. that have affected the lawn and garden business.


CMW ELECTRICAL: Brings In Liquidators from Tenon Recovery
---------------------------------------------------------
S. J. Parker and T. J. Binyon of Tenon Recovery were appointed
joint liquidators of CMW Electrical Management Ltd. (formerly
Praiseoption Ltd.) on July 31 for the creditors’ voluntary
winding-up procedure.

The joint liquidators can be reached at:

         Tenon Recovery
         Sherlock House
         73 Baker Street
         London
         W1U 6RD
         England


EURO JEANS: Calls In Liquidators from Tenon Recovery
----------------------------------------------------
Christopher Ratten and Jeremy Woodside of Tenon Recovery were
appointed joint liquidators of Euro Jeans (Wholesale) Ltd. on
Aug. 3 for the creditors’ voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Tenon Recovery
         Arkwright House
         Parsonage Gardens
         Manchester
         M3 2LF
         England


FHS FLOWERS: Taps Liquidators from Moore Stephens
-------------------------------------------------
Mark Elijah Thomas Bowen and Nigel Price of Moore Stephens LLP
were appointed joint liquidators of FHS Flowers Ltd. on July 31
for the creditors’ voluntary winding-up procedure.

The joint liquidators can be reached at:

         Moore Stephens LLP
         Beaufort House
         94-96 Newhall Street
         Birmingham
         B3 1PB
         England


FOPP LTD: Sells Brand & Six Stores to HMV for Undisclosed Sum
-------------------------------------------------------------
HMV Group Plc bought the brand of Fopp Ltd. and six of its
stores for an undisclosed amount, BBC News reports.

HMV said that the Fopp stores in Glaslow, Edinburg, Covent
Garden, Manchester, Nottingham and Cambridge, were trading
profitably before they were closed and that the sale would save
around 70 jobs at Fopp, BBC relates.  The six stores will
continue to trade under Fopp.

"Ownership of the Fopp brand will enable us to preserve Fopp's
unique identity and trading culture," HMV spokesman Gennaro
Castaldo was quoted by BBC as saying.  "These stores will
operate independently of the main HMV chain in order to preserve
their distinct customer offer.”

As previously reported in the TCR-Europe on July 5, 2007, about
700 jobs at Fopp Ltd. and MZ 2007 Ltd. across the United Kingdom
have been lost due to store closures.  There are 50 Fopp stores
and 31 Music Zone stores across the U.K. with about 800
employees.

Fopp owes about GBP10 million to suppliers, including Universal
Music, Sony BMG, EMI, Plastic Head Music Distribution and ESD
Wholesale, Times Online relates.

                          About HMV

Headquartered in Maindenhead, United Kingdom, HMV Group plc --
http://www.hmvgroup.com/-- is engaged in the retailing of pre-
recorded music, video and electronic games under the HMV brand,
and the retailing of books under the Waterstone's brand.
Including the acquisition of Ottakar's Plc, the Group operates
over 730 stores in eight countries, with the principal markets
being those of the United Kingdom, Japan and Canada.

                         About Fopp

Fopp is a retailer of music, film and books in the United
Kingdom that began as a one-man stall in Glasgow, Scotland in
1981.  It has undergone significant store expansion over the
past two years.  Earlier this year it acquired 68 Music Zone
stores out of administration, many of these have subsequently
been closed.

On June 29, 2007, Tom Burton and Colin Dempster from Ernst &
Young were appointed joint receivers of Fopp and joint
administrators to MZ 2007.


HMV GROUP: Buys Fopp's Brand & Six Stores for Undisclosed Sum
-------------------------------------------------------------
HMV Group Plc bought the brand of Fopp Ltd. and six of its
stores for an undisclosed amount, BBC News reports.

HMV said that the Fopp stores in Glaslow, Edinburg, Covent
Garden, Manchester, Nottingham and Cambridge, were trading
profitably before they were closed and that the sale would save
around 70 jobs at Fopp, BBC relates.  The six stores will
continue to trade under Fopp.

"Ownership of the Fopp brand will enable us to preserve Fopp's
unique identity and trading culture," HMV spokesman Gennaro
Castaldo was quoted by BBC as saying.  "These stores will
operate independently of the main HMV chain in order to preserve
their distinct customer offer."

As previously reported in the TCR-Europe on July 5, 2007, about
700 jobs at Fopp Ltd. and MZ 2007 Ltd. across the United Kingdom
have been lost due to store closures.  There are 50 Fopp stores
and 31 Music Zone stores across the U.K. with about 800
employees.

Fopp owes about GBP10 million to suppliers, including Universal
Music, Sony BMG, EMI, Plastic Head Music Distribution and ESD
Wholesale, Times Online relates.

On June 29, 2007, Tom Burton and Colin Dempster from Ernst &
Young were appointed joint receivers of Fopp and joint
administrators to MZ 2007.

Fopp is a retailer of music, film and books in the United
Kingdom that began as a one-man stall in Glasgow, Scotland in
1981.  It has undergone significant store expansion over the
past two years.  Earlier this year it acquired 68 Music Zone
stores out of administration, many of these have subsequently
been closed.

                          About HMV

Headquartered in Maindenhead, United Kingdom, HMV Group plc --
http://www.hmvgroup.com/-- is engaged in the retailing of pre-
recorded music, video and electronic games under the HMV brand,
and the retailing of books under the Waterstone's brand.
Including the acquisition of Ottakar's Plc, the Group operates
over 730 stores in eight countries, with the principal markets
being those of the United Kingdom, Japan and Canada.

At April 28, 2007, HMV Group plc's balance sheet showed GBP637.8
million in total assets, GBP651 million in total liabilities and
GBP13.2 million in stockholders' deficit.

The company's April 28 balance sheet also showed strained
liquidity with GBP358.1 million in total current assets
available to pay GBP627.4 million in total liabilities coming
due within the next 12 months.


ISOFT GROUP: Set to Deliver LORENZO to CSC Early Next Year
----------------------------------------------------------
iSOFT Group plc is committed to deliver LORENZO 3.5 to Computer
Sciences Corp. by early 2008.  CSC in turn is due to start
rolling it out to the National Programme for IT in England
(NPfIT) from mid 2008 onwards.

“Our aim over the next few years is to exploit fully the
existing portfolio of strategic products -- especially iPM and
iCM -- prior to the gradual introduction of LORENZO from mid-
2008 onwards,” John Weston, chairman and acting chief executive
officer of iSOFT, said.

                      New Agreement with CSC

In August 2006, iSOFT entered into a new contract with CSC, with
whom it has been working successfully in the North-West region
of the NPfIT since 2004.  Under that contract iSOFT agreed to be
paid by CSC based on delivery against a number of key
milestones.  The majority of these milestones involved key
product deliverables, comprising interim stages leading to the
delivery of full LORENZO 3.5 functionality in the first quarter
of 2008.  As the quid pro quo for greater control and certainty
over payment, iSOFT agreed that in the event it failed to
deliver on time against the key milestones, CSC would have the
right to step in and manage iSOFT's development operation, but
without taking over any intellectual property rights.

The agreement was entered into in anticipation of a major
redistribution of responsibilities within the NPfIT.  In
September 2006 it was announced that Accenture would transfer to
CSC its obligations to provide services to the North-East and
East and East Midlands regions with effect from Jan. 8, 2007 and
CSC retained iSOFT to provide software in the regions that it
took over.

The August 2006 agreement with CSC has recently been superseded.
On June 18, 2007, iSOFT and CSC agreed to integrate their teams
involved in the development of software for NPfIT, under CSC's
leadership.  iSOFT will contribute certain of the teams of
people directly involved in the NPfIT project although the
responsibility for employment of all such staff would remain
with iSOFT.

iSOFT will retain the intellectual property rights to LORENZO,
including the rights to exploit it outside the CSC clusters.
LORENZO installations (current and planned) outside these
clusters will be unaffected and iSOFT does not anticipate that
the changes to the contract will impact its core long term
strategy of developing LORENZO as its strategic product to be
sold internationally.  In addition to LORENZO, CSC will take
responsibility for the code streams of i.Patient Manager (i.PM)
and i.Integration Engine (i.IE) for the NPfIT, two of iSOFT's
current products.  The provision and support of these products
by iSOFT for other customers will be unaffected.

Some two-thirds of license payments to iSOFT under the new
agreement will for the next three years be calendar-based and
the remainder will be based on mutually agreed milestones in
order to ensure the alignment of both parties' interests.  At
the same time, CSC gave its consent under the August 2006
agreement to a change of control in the ownership of iSOFT.

Under the terms of the CompuGROUP offer for iSOFT that was
published on July 20, 2007, CompuGROUP declared that, if it is
successful in acquiring iSOFT, it intends to sell to CSC those
parts of iSOFT's operations that are currently under CSC
management and which develop and support product for the NPfIT
and that CompuGROUP will transfer to CSC copies of certain
source codes, tangible assets and staff resources used by iSOFT
in the business of the development and support of the NHS
versions of the LORENZO software and the NPfIT versions of
i.Patient Manager and i.Integration Engine.

The initial target of this program was to reduce the annualized
cost base from GBP210 million at the start of last year, to
below GBP180 million in the financial year which commenced
May 1, 2007.

                         About LORENZO

LORENZO is iSOFT's flagship strategic offering and it is central
to the group's future.  It is an integrated healthcare system,
built using a modern service oriented architecture and adopting
web-based protocols.  It is designed to be flexible, adaptable
and will provide customers with easy operability and lower costs
of ownership than any other healthcare IT product.  That
flexibility will enable customers to upgrade existing systems
incrementally, phase and manage their investment resources and
provide them with a low-risk, fully compatible upgrade path.

LORENZO comprises several layers of development.  The technology
layers provide a framework within which both iSOFT and third-
party systems can be retained by customers but enabled to
communicate securely with newly installed LORENZO solution
applications.  LORENZO functionality is now being tested at
early adopter sites in Germany and the Netherlands.

iSoFT group continues to apply substantial resources to the
development of LORENZO, with much of that resource located in
Chennai and Hyderabad in India, where the group now has
approaching 1,300 employees, being enhanced by resources from
CSC.

                          About iSOFT

Headquartered in Manchester, United Kingdom, iSOFT Group plc
-- http://www.isoftplc.com/-- supplies advanced medical
software applications for the healthcare sector.  Its products
are used by more than 8,000 organizations in 27 countries for
managing patient information and driving improvements in
healthcare services.  In international markets, the group has a
strong presence in the Asia-Pacific, including Singapore and
India.

                            *   *   *

In June 2006 iSOFT revealed a change in accounting policy for
revenue recognition, as a consequence of which it became
necessary to review and restate revenues in prior years.
Arising out of that review a number of possible accounting
irregularities came to light in which it appears that some
revenues reported in the financial years ended April 30, 2004
and 2005 may have been recognized earlier than they should have
been.

On July 20, 2006 the Group engaged its auditors, Deloitte &
Touche LLP, to conduct a formal initial investigation into these
possible irregularities.  In August 2006 it was confirmed that
there were indeed matters that needed further investigation and
we handed over relevant documents to the Financial Services
Authority (FSA), which is now conducting that investigation.
The Group is working closely and cooperatively with the FSA in
order to complete the investigation as quickly as possible.

On Oct. 25, 2006 the Accountancy Investigation and Discipline
Board (AIDB) announced that it will conduct its own
investigation.  The AIDB investigation is a review of the
conduct of those members of accountancy bodies that are
regulated by the AIDB who were executive or non-executive
directors of iSOFT during the relevant periods, and RSM Robson
Rhodes LLP, iSOFT's auditor for the financial years ended April
30, 2003, 2004 and 2005.

All current executive directors of iSOFT who are members of
those accountancy bodies were appointed after the dates under
investigation, as was the non-executive director who is
currently chairman of the audit committee.  The initial
investigation into possible accounting irregularities conducted
by Deloitte & Touche LLP in July and August 2006 did not uncover
evidence that any of the current non-executive directors had any
knowledge of the irregularities.

At the present time the Group has no indication of when either
the FSA or the AIDB intend to conclude their investigations and
report.  On the basis of information that has come to light so
far, the directors consider that the restatement of revenues in
the financial statements for the year ended April 30, 2006
corrected, where appropriate, the impact of these particular
matters.  As the investigation is not yet concluded, it is not
possible for the Board to finally determine what implications,
if any, may arise from the conclusion of the investigations into
these matters.  Nevertheless they must be thoroughly
investigated and the Group will continue to cooperate with both
organizations.

                      Going Concern Doubt

At April 30, 2007, in preparing their cash flow projections,
iSOFT’s directors recognize that there are material
uncertainties that may cast significant doubt on the Group's
ability to continue as a going concern.

The nature of the Group's business is such that there can be
considerable unpredictable variation and uncertainty regarding
the timing and margin on sales, the quantum and timing of cash
flows from new business activity and the achievement of
contractual milestones.  In addition, until the proposed
CompuGROUP transaction legally completes, the successful
completion of the transaction (including shareholder and court
approval) and ongoing willingness and ability of CompuGROUP to
provide financial support to the Group remain uncertainties.
Should the transaction not proceed, it would be necessary to
extend or renegotiate the Group's banking agreements beyond
their current expiry date of Nov. 14, 2007.


NB RECRUITMENT: Appoints J. M. Titley as Liquidator
---------------------------------------------------
J. M. Titley of DTE Leonard Curtis was appointed liquidator of
NB Recruitment Ltd. (formerly SPH 267 Ltd.) on Aug. 2 for the
creditors’ voluntary winding-up procedure.

The liquidator can be reached at:

         DTE Leonard Curtis
         DTE House
         Hollins Mount
         Bury
         BL9 8AT
         England


NORDENLIGHTS LTD: Taps Jeremy Woodside to Liquidate Assets
----------------------------------------------------------
Jeremy Woodside of Tenon Recovery was appointed liquidator of
Nordenlights Ltd. on July 27 for the creditors’ voluntary
winding-up procedure.

The company can be reached at:

         Nordenlights Ltd.
         Unit 4C
         Selby Place
         Stanley Business Park
         Skelmersdale
         WN8 8EF
         England


NUANCE COMMS: Prices US$220 Mln Offer of Sr. Conv. Debentures
-------------------------------------------------------------
Nuance Communications Inc. priced its offering of US$220 million
aggregate principal amount of 2.75% senior convertible
debentures due 2027 through an offering to qualified
institutional buyers pursuant to Rule 144A under the Securities
Act of 1933, as amended.  The sale of the debentures is expected
to close on Aug. 13, 2007, subject to satisfaction of customary
closing conditions.  Nuance also granted the initial purchasers
a 30-day over-allotment option to purchase up to US$30 million
aggregate principal amount of additional debentures.

The debentures will bear interest at a rate of 2.75% per year,
payable in cash semi-annually in arrears, beginning on Feb. 15,
2008.  The debentures will be convertible, subject to certain
conditions, into shares of Nuance's common stock at an initial
conversion rate of 51.3736 shares per US$1,000 principal amount
of the debentures, which is equivalent to an initial conversion
price of about US$19.47 per share and which represents a 22.5%
premium to the closing share price on Aug. 7, 2007, subject to
adjustment upon the occurrence of certain events.

Upon conversion of a debenture, a holder will receive cash in an
amount equal to the lesser of US$1,000 and the conversion value
and, if the conversion value is greater than US$1,000, payment
of the excess value in the form of cash and/or shares of
Nuance's common stock, at Nuance's option.  Nuance may redeem
the Debentures in whole or in part on or after Aug. 20, 2014.
Holders of the Debentures may require Nuance to purchase all or
a portion of their debentures, in cash, on Aug. 15, 2014, Aug.
15, 2017, and Aug. 15, 2022, and upon the occurrence of certain
fundamental changes.

Nuance intends to use the net proceeds from the offering,
together with cash on hand, to fund its previously announced
acquisition of Tegic Communications Inc.

                 About Tegic Communications Inc.

Headquartered in Seattle, Tegic Communications Inc. --
http://www.tegic.com/-- builds robust, innovative, embedded
software designed to enhance communications on small mobile
devices.  The company has offices in Beijing, Hong Kong, London,
New Delhi, Paris, Sao Paulo, Seoul, Singapore, and Tokyo.  Tegic
is a subsidiary of AOL LLC.

                   About Nuance Communications

Based in Burlington, Massachusetts, Nuance Communications Inc.
(NASDAQ: NUAN), fka ScanSoft Inc., -- http://www.nuance.com/--
provides speech and imaging solutions for businesses and
consumers around the world.  Its technologies, applications and
services that help users interact with information, and create,
share and use documents.

The company has offices in Australia, Belgium, Japan, Korea,
Hong Kong, India, Mexico, and the United Kingdom, among others.

                          *     *     *

As reported in the Troubled Company Reporter on Aug. 9, 2007,
Standard & Poor's Ratings Services affirmed its 'B+' corporate
credit rating on Burlington, Massachusetts-based Nuance
Communications Inc. and assigned its 'B-' rating to Nuance's
proposed US$150 million senior unsecured convertible notes due
2027.  Proceeds from the notes will be used to partially fund
the previously announced acquisition of Tegic Communications
Inc.  The outlook is positive.


RICHBELL TECHNICAL: Hires Liquidators from Vantis
-------------------------------------------------
G. Mummery and P. Atkinson of Vantis Business Recovery Services
were appointed joint liquidators of Richbell Technical Services
Ltd. on July 31 for the creditors’ voluntary winding-up
procedure.

The joint liquidators can be reached at:

         Vantis Business Recovery Services
         43-45 Butts Green Road
         Hornchurch
         Essex
         RM11 2JX
         England


TASK SECURITY: Claims Filing Period Ends September 14
-----------------------------------------------------
Creditors of Task Security South East Ltd. have until Sept. 14
to send in their full names, their addresses and descriptions,
full particulars of their debts or claims, and the names and
addresses of their solicitors (if any) to:

         Stephen Patrick Jens Wadsted
         Joint Liquidator
         Vantis Business Recovery Services
         Judd House
         16 East Street
         Tonbridge
         TN9 1HG
         England

Stephen Patrick Jens Wadsted and Mark Newman of Vantis Business
Recovery Services were appointed joint liquidators of the
company on Aug. 1 for the creditors’ voluntary winding-up
proceeding.


TEXTILEART STUDIO: Appoints Liquidators from Cooper Parry
---------------------------------------------------------
Tyrone Shaun Courtman and Evelyn Gabrielle Exley of Cooper Parry
LLP were appointed joint liquidators of Textileart Studio Ltd.
on July 27 for the creditors’ voluntary winding-up procedure.

Mr. Courtman can be reached at:

         Cooper Parry LLP
         14 Park Row
         Nottingham
         NG1 6GR
         England

Ms. Exley can be reached at:

         Cooper Parry LLP
         3 Centro Place
         Pride Park
         Derby
         DE24 8RF
         England


* Large Companies with Insolvent Balance Sheet
----------------------------------------------

                                Shareholders    Total   Working
                                    Equity      Assets   Capital
                          Ticker    (US$MM)    (US$MM)   (US$MM)
                          ------ -----------  -------   --------

AUSTRIA
-------
Libro AG                            (111)         174     (182)
Rhi AG                               (85)       1,573      210


BELGIUM
-------
City Hotels               CITY.BR     (7)         210      (15)
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
------
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)
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
Groupe Eurotunnel         GET      (2935)        9958    (9345)
Immob Hoteliere                      (65)         259       10
Matussiere et Forest S.A. MTF        (78)         294      (28)
Outremer Telecom          OMT        (33)         229      (88)
Pagesjaunes GRP           PAJ      (2718)       1,121     (291)
Pneumatiques Kleber S.A.             (34)         480      139
Rhodia S.A.               RHA       (828)       6,796      531
SDR Centrest                        (132)         252      N.A.
SDR Picardie                        (135)         413      N.A.
Soderag                               (3)         404      N.A.
Sofal S.A.                          (305)       6,619      N.A.
Spie-Batignolles                     (16)       5,281       75
Selcodis S.A.             SPVX       (18)         128       22
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       (10)         111      N.A.
Kaufring AG               KAUG       (19)         151      (51)
Maternus Kliniken AG      MAK.F       (4)         201      (20)
Nordsee AG                            (8)         195      (31)
Schaltbau Hold            SLTG       (20)         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)
Radio A.Korassidis        KORA      (101)         181     (139)
   Commercial

HUNGARY
-------
IPK Osijek DD OS          IPKORA     (18)         190     (320)


ICELAND
-------
Decode Genetics Inc.      DCGN        (55)         216      146

IRELAND
-------
Waterford Wed Ut          WTFU       (145)         897       209


ITALY
-----
Binda S.p.A.              BND        (11)         129      (20)
Cirio Finanziaria S.p.A.            (422)       1,583     (396)
Gruppo Coin S.p.A.        GC        (154)         801      (50)
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)
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)
Snia S.p.A.               SN         (39)         275       36
Technodiffusione
   Italia S.p.A.          TDIFF.PK   (90)         152      (24)


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)


POLAND
------
Vista Alegre Atlantis
   SGPS S.A.              VAAAE      (18)         193      (83)

ROMANIA
-------
Rafo Onesti               RAF       (395)         359    (1695)


RUSSIA
------
East Siberia Brd          VSNK       (40)         106      (70)
Gukovugol Pfd             GUUGP      (58)         144    (4094)
OAO Samaraneftegas                  (332)         892  (16,942)
Vimpel Ship               SOVP       (77)         188     (927)
Zil Auto                 ZILLP      (178)         425  (10,597)


SPAIN
-----
Altos Hornos de
   Vizcaya S.A.                     (116)       1,283     (278)
Santana Motor S.A.                   (46)         223       41


TURKEY
------
Nergis Holding                       (24)         125       26
Yasarbank                           (948)         623      N.A.


UKRAINE
-------
Dniprooblenergo           DNON       (40)         477     (807)
Donetskoblenergo          DOON      (286)         587    (1991)


UNITED KINGDOM
--------------
Abbott Mead Vickers                   (2)         168      (16)
Alldays Plc                         (120)         252     (202)
Amey Plc                             (49)         932      (47)
Atkins (WS) Plc           ATK       (150)       1,390       62
BCH Group Plc             BCH         (6)         188      (44)
Blenheim Group            BEH       (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)
Cineworld Groug           CINE      (115)         748        7
Compass Group             CPG       (668)       2,972     (298)
Costain Group             COST      (108)         595      (61)
Danka Bus System          DNK.L     (108)         540        34
Easynet Group             ESY.L      (45)         323        38
Electrical and Music
   Industries Group       EMI      (2266)       2,950      (296)
Euromoney Institutional
   Investor Plc           ERM.L      (50)         448      (67)
Galiform Plc              GFRM      (152)         889       35
Global Green Tech Group             (156)         408      (18)
Heath Lambert
   Fenchurch Group Plc               (10)       4,109      (10)
HMV Group Plc             HMV        (26)        1273     (269)
Imperial Chemical
   Industries Plc         ICI       (370)       8,393        2
Invensys PLC                        (276)       3,914      357
IPC Media Ltd.                      (685)         254       16
Jarvis Plc                JRVS.L     (28)         370      (22)
Ladbrokes Plc             LAD     (1,227)       1,669     (267)
Lambert Fenchurch Group               (1)       1,827        3
Lattice Group                     (1,290)      12,410   (1,228)
London Stock Exchange     LSE       (689)         526     (195)
M 2003 Plc                        (2,204)       7,205     (756)
Misys Plc                 MSY         (7)       1,123     (131)
Mytravel Group            MT.L      (380)       1,818     (488)
Orange Plc                ORNGF     (594)       2,902        7
Regus Plc                 RGU.L      (46)         367      (60)
Rentokil Initial Plc      RTO     (1,044)       3,507     (457)
Saatchi & Saatchi         SSI       (119)         705      (41)
SFI Group                           (108)         178     (162)
Skyepharma PLC            SKP        (95)         211      (15)
Smiths News PLC           NWS       (119)         225      (57)
Telewest
   Communications Plc     TLWT    (3,702)       7,581   (5,631)
Wincanton Plc             WIN        (27)       1,451      (78)

                           *********

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/booksto 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 * * *