TCREUR_Public/070823.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

            Thursday, August 23, 2007, Vol. 8, No. 167

                            Headlines


A U S T R I A

HOTELS ON THE GREEN: Vienna Court Orders Business Shutdown
ING. POLSTER: Vienna Court Orders Business Shutdown
KASSEROLLER LLC: Administrator Declares Insufficient Assets
KHARMA TRADING: Claims Registration Period Ends Sept. 24
SCHULLER BAUMASCHINEN: Claims Registration Period Ends Sept. 14

STERN KEG: Claims Registration Period Ends Sept. 13
TES TRANSPORT: Claims Registration Period Ends Sept. 14
WEMA-HOLZBAUTECHNIK: Administrator Declares Insufficient Assets


B E L G I U M

TELENET GROUP: Recapitailzation Cues Moody?s to Hold B1 Rating


F I N L A N D

SANMINA-SCI: Poor Operating Results Cue Moody's Ratings Review


F R A N C E

HEXCEL CORP: Agrees to Provide Carbon Fiber for USEC Plant
SOLECTRON CORP: Inks Service Contract with LSI Corporation


G E R M A N Y

ANTZ EVENT: Creditors Must File Claims by September 7
BIKE & TRIKE: Claims Registration Ends September 17
BUCKEYE TECH: Calls for US$60 Million Redemption of Senior Notes
CRAZY HAIR: Claims Registration Ends September 28
DLT-VERFAHRENSTECHNIK: Claims Registration Period Ends Sept. 11

ELEKTROINSTALLATIONEN M: Claims Registration Ends Sept. 12
GARANT SCHUH: Selling 42.79% Nordfinanz Stake to Pay Creditors
GROSSENHAIN GMBH: Creditors Must File Claims by September 10
HAYES LEMMERZ: Names James Yost as Executive Vice Pres. and CEO
KOESTER HOLZBAU: Claims Registration Period Ends October 1

LEDERWAREN WEBER: Creditors Must File Claims by September 3
MINITEC ENGINEERING: Claims Registration Period Ends Sept. 11
NEXT TRADING: Claims Registration Period Ends October 2
NOBAU GMBH: Creditors Must File Claims by August 29
PANDATEL AG: Shareholders Approve Plan to Liquidate Assets

PRO ENERGIE: Claims Registration Ends September 14
PRO FIT: Claims Registration Ends September 17
PRUHS & DOEBBER: Claims Registration Period Ends October 8
RD LORD: Claims Registration Ends September 25
RINGFOTO TEGEL: Claims Registration Ends September 20

SANDER & LEHMANN: Creditors Must File Claims by September 6
SCHIEDER MOEBEL: Unit Attracts Two Buyers Following Major Order
SCHUH KRAHER: Claims Registration Ends September 26
SCHWENK UNTERNEHMENSBERATUNGS: Claims Registration Ends Sept. 26
SPARHUBER METALL: Claims Registration Period Ends Sept. 11

SPECTRUM BRANDS: Names John Bowlin as Board Chairman
TOTH GMBH: Claims Registration Ends September 21
WIECZORECK VERWALTUNGSGESELLSCHAFT: Claims Filing Ends Sept. 10
WINGS GMBH: Claims Registration Period Ends October 2


H U N G A R Y

AES CORP: Fitch Affirms B+ Issuer Default Rating


I T A L Y

ALITALIA SPA: Chairman Sets Union Meeting to Tackle Sale
ALITALIA SPA: Hikes July 2007 Cargo Traffic by 4%
ITALFINANCE SECURITISATION: S&P Cuts Class A Bond Ratings to BB+


K A Z A K H S T A N

ALATAU-SHYNY LLP: Proof of Claim Deadline Slated for Sept. 20
BAISERKE-A LLP: Creditors Must File Claims Sept. 20
BUMASKURYLYS LLP: Claims Filing Period Ends Sept. 20
DRUJININ LLP: Creditors' Claims Due on Sept. 21
KAZAKHSTAN-1 LLP: Claims Registration Ends Sept. 20

KOKSU-MAL DERIGER: Proof of Claim Deadline Slated for Sept. 21
KONDYBAI LLP: Creditors Must File Claims Sept. 20
KYZYLSAY LLP: Claims Filing Period Ends Sept. 27
NORDINCOM-PV LLP: Creditors' Claims Due on Sept. 20
TEKELI-AK-KAIR LLP: Claims Registration Ends Sept. 20


K Y R G Y Z S T A N

ASIA-METALL LLC: Proof of Claim Deadline Slated for September 21


L U X E M B O U R G

HUNTSMAN CORP: Paying US$0.10/Share Dividend on Sept. 28


N E T H E R L A N D S

AURELIA ENERGY: Moody's Withdraws Ba3 Corporate Family Rating
AZOVSTAL CAPITAL: Moody's Keeps B2 Corporate Family Rating
HARBOURMASTER CLO 4: Fitch Rates Classes B2E & B2F Notes at BB
HARBOURMASTER CLO 5: Fitch Rates EUR28.4 Million Notes at Low-B
HARBOURMASTER CLO 6: Fitch Rates EUR25.3 Million Notes at BB


P O L A N D

EXIDE TECHNOLOGIES: Wants Until October 31 to Object to Claims
EXIDE TECH: Posts US$35.7 Million Net Loss in Qtr. Ended June 30


R U S S I A

BUDENNOVSKOE ON: Stavropol Bankruptcy Hearing Slated for Oct. 4
FALENSKAYA MSO: Creditors Must File Claims by Sept. 28
IRKUTSK-GRAIN-PRODUCT: Creditors Must File Claims by Oct. 4
KALMSTROY OJSC: Creditors Must File Claims by Sept. 28
KHIM-PROM-INVEST: Creditors Must File Claims by Sept. 28

L-AGRO CJSC: Creditors Must File Claims by Sept. 28
NIVY OF ALTAY: Court Names A. Ivanov as Insolvency Manager
OIL-TRADING LLC: Creditors Must File Claims by Aug. 28
PREMIER-LEASING NN: Bankruptcy Hearing Slated for Dec. 4
PROM-STROY-INCOM: Asset Sale Slated for December 5

ROMANOVSKIY OJSC: Creditors Must File Claims by Sept. 28
STAVROPOLSKAYA INSTRUMENTAL: Claims Filing Period Ends Sept. 28
TNK-BP INT'L: S&P Holds Credit Rating at BB+ with Stable Outlook
TRANSPORT-TECHNICAL SERVICES: Claims Filing Period Ends Aug. 28
USTANSKIY WOOD-PROM-KHOZ: Bankruptcy Hearing Slated for Nov. 20

ZHIL-KOM-STROY: Creditors Must File Claims by Sept. 28


S P A I N

TDA CAM 4: Fitch Junks EUR29.3 Million Class D Notes


S W I T Z E R L A N D

DB BAU: Creditors' Liquidation Claims Due September 15
EILA INTERNATIONAL: Liquidation Claims Due September 28
FLEXUM MESSTECHNIK: Creditors' Liquidation Claims Due August 30
GRAND RETAIL: Creditors' Liquidation Claims Due October 8
HIMALAYA PARTNERS: Liquidation Claims Due September 15

KOCH+URSCHLER MESSEBAU: Liquidation Claims Due October 10
NATURA MEDICA: Claims Registration Period Ends September 3
REMIDO JSC: Creditors' Liquidation Claims Due August 30
SIXTMETALLICA & PARTNER: Liquidation Claims Due September 3
STAWAG BIOTECH: Creditors' Liquidation Claims Due August 30

THOMAS SCHAR: Creditors' Liquidation Claims Due October 31
UNIVERSAL COMPRESSION: Changes Company Name to Exterran Partners
UNIVERSAL COMPRESSION: Closes Hanover Merger of Equals
WELLCAP JSC: Claims Registration Period Ends August 31


U K R A I N E

AZOVSTAL IRON: Moody's Rates Senior Unsecured Loan Notes at B3
COUNTRY PROPRIETOR: Creditors Must File Claims by August 25
DOBROVELICHKOVKA MOTORCAR 13540: Creditors' Claims Due August 25
EKOGARNET LLC: Creditors Must File Claims by August 25
METALLURGICAL MACHINEBUILDING: Creditors' Claims Due August 25

NATA-YUG LLC: Creditors Must File Claims by August 25


U N I T E D   K I N G D O M

ADVANCED MICRO: Completes US$1.5 Bln Offering of 5.75% Sr. Notes
BALLY TOTAL: Ends Interim Executive Services Pacts with Tatum
BALLY TOTAL: Court Okays Modification of Reorganization Plan
FOCUS DIY (INVESTMENTS): S&P Withdraws Junk Debt Rating
FORD MOTOR: Bear Stearns Wants to Buy Indian Financing Unit

HANOVER COMPRESSOR: Completes US$550MM Tender Offer of Sr. Notes
HANOVER COMPRESSOR: Completes Universal Compression Merger
MITEL NETWORKS: Zarlink Sells Equity Interest for US$12.9 Mln
NASDAQ STOCK: Hires J.P. Morgan to Explore Sale of LSE Stake
NASDAQ STOCK: Urges OMX Shareholders to Support Offer

PARK VIEW: Claims Filing Period Ends October 1
PIPE HOLDINGS: Moody?s Cuts Corporate Family Rating to B2
VIRGIN MEDIA: CEO Steve Burch Quits Post Effective Immediately
WHOLE FOODS: Appellate Court Puts Wild Oats Merger Deal on Hold
WHOLE FOODS: Moves Wild Oats Tender Offer Expiration to Aug. 27

* Upcoming Meetings, Conferences and Seminars

                            *********


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


HOTELS ON THE GREEN: Vienna Court Orders Business Shutdown
----------------------------------------------------------
The Trade Court of Vienna entered July 23 an order shutting down
the business of LLC Hotels on the Green Golf - & Hotel-
Marketing (FN 252995b).

Court-appointed estate administrator Leopold Riess 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. Leopold Riess
         c/o Dr. Eva Riess
         Zeltgasse 3
         1080 Vienna
         Austria
         Tel: 402 57 01
         Fax: 402 57 01 21
         E-mail: law@riess.co.at

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on July 13 (Bankr. Case No 4 S 80/07b).  Eva Riess represents
Dr. Leopold Riess in the bankruptcy proceedings.


ING. POLSTER: Vienna Court Orders Business Shutdown
---------------------------------------------------
The Trade Court of Vienna entered July 20 an order shutting down
the business of LLC Ing. Polster Elektroanlagen (FN 108571p).

Court-appointed estate administrator Hans Rant 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. 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

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.


KASSEROLLER LLC: Administrator Declares Insufficient Assets
-----------------------------------------------------------
Dr. Gunther Nagele, the court-appointed estate administrator for
LLC Kasseroller (FN 42414z), declared July 25 that the Debtor's
property is insufficient to cover creditors' claim.

The Land Court of Innsbruck is yet to rule on the estate
administrator's claim.

Headquartered in Voels, Austria, the Debtor declared bankruptcy
on July 13 (Bankr. Case No. 19 S 66/07i).  Johannes Nagele
represents Dr. Nagele in the bankruptcy proceedings.

The estate administrator can be reached at:

         Dr. Gunther Nagele
         c/o Dr. Johannes Nagele
         Suedtirolerplatz 8
         6020 Innsbruck
         Austria
         Tel: 0512/58 74 81, 58 74 82
         Fax: 0512/580897
         E-mail: office@nagele-pesl.at


KHARMA TRADING: Claims Registration Period Ends Sept. 24
--------------------------------------------------------
Creditors owed money by LLC KHARMA Trading (FN 258454f) have
until Sept. 24 to file written proofs of claim to court-
appointed estate administrator Josef Ebner at:

         Dr. Josef Ebner
         Mahlerstrasse 7
         1010 Vienna
         Austria
         Tel: 512 29 94
         Fax: 512 29 04
         E-mail: ra.ebner@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:45 a.m. on Oct. 8 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1705
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on July 26 (Bankr. Case No. 3 S 101/07h).


SCHULLER BAUMASCHINEN: Claims Registration Period Ends Sept. 14
---------------------------------------------------------------
Creditors owed money by LLC Schuller Baumaschinen (FN 138922y)
have until Sept. 14 to file written proofs of claim to court-
appointed estate administrator Arno Lerchbaumer at:

         Dr. Arno Lerchbaumer
         Marburgerkai 47
         8010 Graz
         Austria
         Tel: 0316/822244-0
         Fax: 0316/822244-22
         E-mail: office@lerchbaumer.co.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 2:10 p.m. on Sept. 27 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Graz
         Room 230
         Hall L
         Graz
         Austria

Headquartered in Hartberg, Austria, the Debtor declared
bankruptcy on July 26 (Bankr. Case No. 25 S 82/07g).


STERN KEG: Claims Registration Period Ends Sept. 13
---------------------------------------------------
Creditors owed money by KEG STERN (FN 269737y) have until
Sept. 13 to file written proofs of claim to court-appointed
estate administrator Klemens Dallinger at:

         Dr. Klemens Dallinger
         c/o Mag. Dr. Guenther Hoedl
         Schulerstrasse 18
         1010 Vienna
         Austria
         Tel: 513 28 33
         Fax: 513 28 33 22
         E-mail: dallinger@anwaltsteam.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:45 a.m. on Sept. 27 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1703
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on July 24 (Bankr. Case No. 5 S 88/07m).


TES TRANSPORT: Claims Registration Period Ends Sept. 14
-------------------------------------------------------
Creditors owed money by LLC TES Transport + Express-Service (FN
263974y) have until Sept. 14 to file written proofs of claim to
court-appointed estate administrator Helmut Horn at:

         Dr. Helmut Horn
         Kalchberggasse 6-8
         8010 Graz
         Austria
         Tel: 0316/821114
         Fax: 0316/821114-79
         E-mail: helmut.horn@schmid.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 2:00 p.m. on Sept. 27 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Graz
         Room 230
         Second Floor
         Graz
         Austria

Headquartered in Graz, Austria, the Debtor declared bankruptcy
on July 25 (Bankr. Case No. 25 S 83/07d).


WEMA-HOLZBAUTECHNIK: Administrator Declares Insufficient Assets
---------------------------------------------------------------
Dr. Hans- Peter Neher, the court-appointed estate administrator
for LLC Wema - Holzbautechnik (FN 251684z), declared July 19
that the Debtor's property is insufficient to cover creditors'
claim.

The Land Court of Wels is yet to rule on the estate
administrator's claim.

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

The estate administrator can be reached 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


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


TELENET GROUP: Recapitailzation Cues Moody's to Hold B1 Rating
--------------------------------------------------------------
Moody's Investors Service affirmed a B1 corporate family rating
of Telenet Group Holding N.V. following the company's announced
recapitalization.

Concurrently, Moody's assigned a B1 rating to the senior secured
bank facility in the amount of EUR2.3 billion.  The proceeds of
the facility will be largely used to refinance Telenet's
existing bonds and the senior secured bank facility as well as
to make a shareholder distribution.  Moody's will withdraw the
bond ratings upon their redemption.  In line with Moody's
practice under its Loss Given Default methodology, Moody's has
also amended the expected family recovery to 65% given that the
group is now operating with a first-lien bank debt capital
structure resulting in the assignment of probability of default
rating of B2/LD, one notch below the B1 corporate family rating.

The affirmation of the corporate family rating reflects Moody's
earlier expectations that Telenet was likely to change its
credit profile alongside with a contemplated at that time change
in its ownership.  Following the re-capitalization, the company
will be leveraged at approximately 5.3x Debt to EBITDA including
its clientele and annuity obligations.  Moody's notes that the
terms and conditions of the bank facility do not include these
obligations in the leverage definition for covenant compliant
purposes of the covenant calculation.

The affirmation of the corporate family rating also takes into
account the company's strong operating performance; elimination
of event risk previously associated with a change in the
ownership and increased visibility regarding Telenet's financial
policies in the near term.  Moody's understands that the company
earmarked EUR160 million out of the facility proceeds for
potential acquisitions.  In the event the company does not
consummate any acquisitions, these funds will likely be
redeployed towards shareholder distributions.

The B1 rating on the senior secured facility (LGD-3, 37.8%)
reflects its security package over the borrower's shares,
Telenet BidCo NV - an intermediate holding company, and certain
intercompany loans.  The facility rating at the level of the
corporate family rating reflects the limited amount of junior
obligations in the company's debt capital structure. The
facility consist of Tranche A of EUR425 million, Tranche B of
EUR1.3 billion and a seven-year revolving facility of EUR175
million.

The stable outlook on the rating reflects Moody's expectations
that Telenet will continue to achieve robust operational
results.  However, Moody's notes that Telenet is likely to be
free cash flow negative in 2007 due to substantial foreign
exchange losses associated with the planned redemption of its US
dollar denominated bonds and the close out of its hedging
contracts.

What Could Upgrade the Rating

Strong operational and financial performance in conjunction with
de-leveraging below 5.0x Debt to EBITDA on a sustainable basis;
visibility regarding medium to long term financial policies and
shareholder distributions though Moody's expects the company to
manage its leverage towards the guideline metrics for the rating
category.

What Could Downgrade the Rating

A deterioration of the company's operations as a result of
intense competition leading to erosion of margins and cash flows
on an extended basis; a change to financial policy employing a
substantially higher leverage than the current levels with
leverage trending towards 6.0x Debt to EBITDA.

Telenet, located in Flanders, is the largest cable operator in
Belgium.  For the first six months in 2007, the company
generated EUR456.7 million in revenue with a 48% reported EBITDA
margin.


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


SANMINA-SCI: Poor Operating Results Cue Moody's Ratings Review
--------------------------------------------------------------
Moody's Investors Service placed the ratings of Sanmina-SCI
Corporation on review for possible downgrade based on the
company's continued poor operating results, which reflect weak
demand from OEMs and operational inefficiencies in the
components business.

The electronic manufacturing services sector continues to be
plagued by excess capacity, competitive pricing pressures and
ongoing business restructurings.  Moody's review will focus on
Sanmina's ability to grow revenue across all of its end-market
verticals, stabilize its operating margins, effectively manage
its working capital, rationalize its asset base and generate
proceeds from divestitures, namely the low margin PC business.

Sanmina's leverage has increased from 5.4x (Moody's adjusted
debt/EBITDA) at the end of fiscal year 2006 to 7.2x as a result
of weak EBIT levels during the last three quarters.  The
company's operating margin has declined from 2% in fiscal year
2006 to 1.4% on a Moody's adjusted basis.

Ratings under review for possible downgrade include:

-- Ba3 Corporate Family Rating;

-- Ba3 rating on US$300 million floating rate notes due 2010;

-- Ba3 rating on US$300 million floating rate notes due 2014;

-- B2 rating on US$400 million senior subordinated notes due
    2013;

-- B2 rating on US$600 million senior subordinated notes due
    2016;

-- SGL -- 2 Speculative Grade Liquidity Rating.

Headquartered in San Jose, California, Sanmina-SCI Corporation
is one of the largest electronics contract manufacturing
services companies providing a full spectrum of integrated,
value added solutions.

Headquartered in San Jose, California, Sanmina-SCI Corporation
(NasdaqGS: SANM) -- http://www.sanmina-sci.com/-- is a
Electronics Manufacturing Services (EMS) provider focused on
delivering complete end-to-end manufacturing solutions to
technology companies around the world.  Service offerings
include product design and engineering, test solutions,
manufacturing, logistics and post-manufacturing repair/warranty
services.

The company has locations in Brazil, China, Ireland, Finland,
Malaysia, Mexico and Singapore, among others.


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


HEXCEL CORP: Agrees to Provide Carbon Fiber for USEC Plant
----------------------------------------------------------
Hexcel Corporation had entered into an agreement with USEC Inc.
and Alliant Techsystems Inc. to supply carbon fiber required for
USEC's planned American Centrifuge Plant for the enrichment of
uranium for commercial nuclear power reactors.  The centrifuge
method of enrichment will use over 11,500 rotor tubes and is
more cost effective than the alternative gas diffusion
enrichment process.  Traditionally the rotors were made of
aluminum alloy, steel or fiberglass, but switching to
stronger and lighter weight carbon fiber allows for increased
efficiency.

In September 2006 ATK announced that it had started
demonstration and qualification work on composite rotor tubes
for the ACP.  USEC received a Nuclear Regulatory Commission
license to construct the ACP in April 2007.  Hexcel currently
estimates that carbon fiber sales for the initial 3.8
million separative work units plant will be approximately US$100
million starting in late 2008, with the majority of deliveries
likely to be in the 2010 and 2011 depending on USEC and ATK's
manufacturing schedule.  The agreement contemplates that USEC
also may purchase significant quantities of additional carbon
fiber product needed for the ACP.

Mr. David E. Berges, Hexcel's Chairman and Chief Executive
Officer, said "Hexcel is very pleased to be part of the USEC
project which has the potential for additional production to
follow.  We also welcome this opportunity to reinforce our long
standing relationship as a supplier to ATK.  We previously
announced that we are targeting increasing the penetration of
our carbon fiber into high-end industrial applications, and
the USEC application complements this strategy.  Our capacity
additions for carbon fiber will be capable of supporting both
aerospace and this segment of the industrial market
interchangeably."

Headquartered in Stamford, Connecticut, Hexcel Corporation
(NYSE: HXL) -- http://www.hexcel.com/-- is an advanced
structural materials company.  It develops, manufactures and
markets lightweight, high-performance structural materials,
including carbon fibers, reinforcements, prepregs, honeycomb,
matrix systems, adhesives and composite structures, used in
commercial aerospace, space and defense and industrial
applications.

The company has operations in Australia, Brazil, China, France
and Japan, among others.

                       *     *     *

As reported in the Troubled Company Reporter on April 5, 2007,
Moody's Investors Service has raised the ratings of Hexcel
Corporation, Corporate Family Rating to Ba3 from B1.  The
ratings on Hexcel's senior secured credit facility have been
upgraded to Ba1 from Ba2, while the subordinated notes ratings
were upgraded to B1 from B3.  The ratings outlook was Stable.


SOLECTRON CORP: Inks Service Contract with LSI Corporation
----------------------------------------------------------
Solectron Corporation has entered into a multi-year contract
with LSI Corporation (NYSE:LSI) for manufacturing services of
the company's Engenio(TM) storage systems.  LSI will complete
the transfer of operations to Solectron by the first half of
2008.  Terms of the deal were not disclosed.

"LSI is a premier provider of silicon-to-systems data storage,
and we believe our expertise in managing complex supply chains
in collaboration with LSI will help the company achieve its
goals of greater efficiencies and allow it to scale its business
without increasing capital investments," said Doug Britt,
executive vice president, Sales and Account Management,
Solectron.

Solectron will provide manufacturing services for the LSI
Engenio' storage systems.  Solectron has a long history serving
global brands in the data storage segment.  Solectron's award-
winning Lean Six Sigma processes, the Solectron Production
System(TM), will play a central role in helping LSI achieve
time-to-market goals and cost benefits.

"As a contract manufacturing and services partner, Solectron is
expected to play a core part of our business strategy to realize
operational efficiencies that will better serve our customers
and improve our competitive position," said Phil Bullinger,
senior vice president and General Manager, Engenio Storage
Group, LSI Corporation.  "Solectron's long history in data
storage systems, its leadership in build-to-order and
configure-to-order manufacturing, and its end-to-end Lean supply
chain solutions made Solectron the right partner."

Headquartered in Milpitas, California, Solectron Corp.
(NYSE: SLR) -- http://www.solectron.com/-- provides a full
range of worldwide manufacturing and integrated supply chain
services to the world's premier high-tech electronics companies.
Solectron's offerings include new-product design and
introduction services, materials management, product
manufacturing, and product warranty and end-of-life support.
The company operates in more than 20 countries on five
continents including France, Malaysia, and Brazil, among others.
It had sales from continuing operations of US$10.6 billion in
fiscal 2006.

                       *     *     *

As reported in the Troubled Company Reporter on Dec. 14, 2006,
Standard & Poor's Ratings Services raised its corporate credit
and senior unsecured ratings on Milpitas, California-based
Solectron Corp. to 'BB-' from 'B+', and its subordinated debt
rating to 'B' from 'B-'.  S&P said the outlook is stable.

On May 9, 2007, Fitch Ratings affirmed Solectron Corporation's
ratings as:

   -- Issuer Default Rating at 'BB-';
   -- Senior secured bank facility at 'BB+';
   -- Senior unsecured debt at 'BB-'; and
   -- Subordinated debt at 'B+'.


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


ANTZ EVENT: Creditors Must File Claims by September 7
-----------------------------------------------------
Creditors of Antz Event Service GmbH have until Sept. 7 to
register their claims with court-appointed insolvency manager
Werner Althoff.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 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 Loerrach
         Room 2.21
         Hall 5
         Bahnhofstr. 4 a, 2
         79539 Loerrach
         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:

         Werner Althoff
         Weinbrennerstr. 4
         79539 Loerrach
         Germany

The District Court of Loerrach opened bankruptcy proceedings
against Antz Event Service GmbH on Aug. 8.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Antz Event Service GmbH
         Brombacher Str. 26
         79539 Loerrach
         Germany


BIKE & TRIKE: Claims Registration Ends September 17
---------------------------------------------------
Creditors of Bike & Trike Guenzburg GmbH have until Sept. 17 to
register their claims with court-appointed insolvency manager
Markus Froehlich.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 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 Neu-Ulm
         Zi. 211/II
         Heiner-Metzger-Platz 1
         89231 Neu-Ulm
         Germany

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

The insolvency manager can be reached at:

         Markus Froehlich
         Marienstr. 1
         89231 Neu-Ulm
         Germany
         Tel: 0731/2055993-0
         Fax: 0731/2055993-90

The District Court of Neu-Ulm opened bankruptcy proceedings
against Bike & Trike Guenzburg GmbH on Aug. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Bike & Trike Guenzburg GmbH
         Heidenheimer Strasse 64
         89312 Guenzburg
         Germany


BUCKEYE TECH: Calls for US$60 Million Redemption of Senior Notes
----------------------------------------------------------------
Buckeye Technologies Inc. has called for redemption prior to
their maturity US$60 million in aggregate principal amount of
its outstanding 9-1/4% Senior Subordinated Notes due 2008, and
will redeem on Sept. 17, 2007, in accordance with their terms.

Upon completion of this redemption, none of the 2008 Notes will
remain outstanding.  A formal notice of redemption has been sent
separately to the affected holders of the 2008 Notes, in
accordance with the terms of the indenture for the 2008 Notes.
Buckeye plans to finance this redemption using its new revolving
credit facility.

Headquartered in Memphis, Tennessee, Buckeye Technologies Inc.
(NYSE:BKI) -- http://www.bkitech.com/-- manufactures and
markets specialty fibers and nonwoven materials.  The company
currently operates facilities in the United States, Germany,
Canada, and Brazil.  Its products are sold worldwide to makers
of consumer and industrial goods.

                         *     *     *

As reported in the Troubled Company Reporter on June 19, 2007,
Moody's upgraded Buckeye Technologies Inc.'s corporate family
rating to B1 from B2 and maintained a stable outlook.  All other
ratings were upgraded by one notch while the unsecured notes
were affirmed at B2.


CRAZY HAIR: Claims Registration Ends September 28
-------------------------------------------------
Creditors of Crazy Hair GmbH have until Sept. 28 to register
their claims with court-appointed insolvency manager Hendrik
Rogge.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on Oct. 31, 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
         Meeting Hall B405
         Fourth Floor
         Sievkingplatz 1
         20355 Hamburg
         Germany

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

The insolvency manager can be reached at:

         Hendrik Rogge
         Haferweg 22
         22769 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against Crazy Hair GmbH on Aug. 8.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Crazy Hair GmbH
         Attn: Petra Schildt, Manager
         Wandsbeker Chaussee 182
         22089 Hamburg
         Germany


DLT-VERFAHRENSTECHNIK: Claims Registration Period Ends Sept. 11
---------------------------------------------------------------
Creditors of dlt-Verfahrenstechnik-Wille GmbH have until
Sept. 11 to register their claims with court-appointed
insolvency manager Alexander Pfadenhauer.

Creditors and other interested parties are encouraged to attend
the meeting at 11:30 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 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:

         Alexander Pfadenhauer
         Sperberstr. 47
         90461 Nuremberg
         Germany
         Tel: 0911/448171
         Fax: 0911/441332

The District Court of Nuremberg opened bankruptcy proceedings
against dlt-Verfahrenstechnik-Wille GmbH on Aug. 7.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         dlt-Verfahrenstechnik-Wille GmbH
         Farradstr. 7
         90429 Nuremberg
         Germany


ELEKTROINSTALLATIONEN M: Claims Registration Ends Sept. 12
----------------------------------------------------------
Creditors of Elektroinstallationen M. Spinnen GmbH have until
Sept. 12 to register their claims with court-appointed
insolvency manager Christian Potrafke.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.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 Moenchengladbach
         Meeting Hall A 14
         Ground Floor
         Hohenzollernstr. 157
         41061 Moenchengladbach
         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. Christian Potrafke
         Eickesmuehle 8
         41238 Moenchengladbach
         Germany
         Tel: 02166/912608
         Fax: 02166/912607

The District Court of Moenchengladbach opened bankruptcy
proceedings against Elektroinstallationen M. Spinnen GmbH on
Aug. 3.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Elektroinstallationen M. Spinnen GmbH
         Attn: Juergen Walter Spinnen, Manager
         Dohrweg 51
         41065 Moenchengladbach
         Germany


GARANT SCHUH: Selling 42.79% Nordfinanz Stake to Pay Creditors
--------------------------------------------------------------
Garant Schuh + Mode AG intends to sell its 42.79% stake in
Nordfinanz Bank to pay off creditors, The Financial Times
reports citing Borsen-Zeitung as its source.

According to the report, Garant Schuh has decided not to take
over the German bank completely as the stake is no longer
required for strategic reasons.

On Aug. 15, 2007, Garant Schuh disclosed that insolvency manager
Friedrich William Metzeler has already submitted the company's
insolvency plan to the court.

Under the insolvency plan, creditors are to forego 61.6% of the
debts that they are owed, FT relates.

Creditors will vote whether to accept or reject the plan on
Sept. 4, 2007.  The Debtor said the acceptance of the plan by
creditors is a further substantial step for the reorganization
of the company and for the abolition of the insolvency
procedure.

As previously reported in the TCR-Europe on March 21, 2007, the
Debtor's shareholders voted to launch capital measures to get
out of insolvency and avoid liquidation, Borsen Zeitung reports.

The capital measures initially entail cutting the share capital
and then increasing it by issuing new stocks at EUR9.63 per
share, Borsen Zeitung relates.  Current shareholders would see
their holdings diluted to 24%, while new investors could control
up to 76% of voting rights.

Headquartered in Duesseldorf, Germany, Garant Schuh & Mode AG --
http://www.garantschuh.de/-- retails footwear, leather goods
and accessories.  The Garant Schuh & Mode group is a cooperative
of 4,000 stockists in 14 European countries, with a total of
5,800 stores.  The Company has member firms in Germany, France,
the Netherlands, Austria and Belgium.

Garant Schuh filed for commencement of bankruptcy proceedings in
September 2004 after failing to obtain cash from banks to cover
a financing gap.  The District Court of Duesseldorf opened
bankruptcy proceedings against the company in December 2004.


GROSSENHAIN GMBH: Creditors Must File Claims by September 10
------------------------------------------------------------
Creditors of Grossenhain GmbH have until Sept. 10 to register
their claims with court-appointed insolvency manager Rainer M.
Bahr.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 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 Dresden
         Hall D131
         Olbrichtplatz 1
         01099 Dresden
         Germany

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

The insolvency manager can be reached at:

         Rainer M. Bahr
         Obergraben 10
         01097 Dresden
         Germany

The District Court of Dresden opened bankruptcy proceedings
against Grossenhain GmbH on Aug. 6.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Grossenhain GmbH
         Riesaer Str. 50
         01558 Grossenhain
         Germany


HAYES LEMMERZ: Names James Yost as Executive Vice Pres. and CEO
---------------------------------------------------------------
Hayes Lemmerz International Inc. has promoted James A. Yost to
the new position of executive vice president and chief financial
officer.

Mr. Yost served the company as vice president, finance and chief
financial officer.  Mr. Yost is responsible for the global
finance and information technology functions.  Mr. Yost will
report to Curtis J. Clawson, president, chief executive officer
and chairman of the board.

Mr. Yost has strengthened the finance team and enhanced internal
accounting controls across the company.  Mr. Yost was also
instrumental in the success of the recent equity rights offering
and debt refinancing, which raised new equity, retired high cost
debt, and strengthened the balance sheet.

"Jim is a key member of the Hayes Lemmerz leadership team and
has had significant influence on the strategic and financial
direction of the company," Mr. Clawson stated.  "He also led the
recent share rights offering and debt refinancing which
bolstered our financial position.  We are very pleased to
announce his promotion to Executive Vice President and CFO, and
will continue to rely on his expertise and leadership as we
guide our company into its next phase of growth."

Mr. Yost joined Hayes Lemmerz in July 2002.  Mr. Yost retired
from Ford Motor Company in 2001, where he served as vice
president of corporate strategy.  He also held positions as vice
president and chief information officer, executive director of
corporate finance, general auditor and executive director of
finance process and systems development, finance director of
Ford Europe and controller of Autolatina (South America) during
his 27-year career.

Mr. Yost graduated with a Bachelor of Engineering Science degree
in Computer Science from the Johns Hopkins University in
Baltimore, Maryland.  He also received a Masters of Business
Administration degree in Finance from the University of Chicago.

                About Hayes Lemmerz International

Headquartered in Northville, Michigan, Hayes Lemmerz
International Inc. (Nasdaq: HAYZ) --
http://www.hayes-lemmerz.com/-- global supplier of automotive
and commercial highway wheels, brakes and powertrain components.
The company has 30 facilities and approximately 8,500 employees
worldwide.  The company has operations in India, Brazil and
Germany, among others.

                          *    *    *

As reported in the Troubled Company Reporter on May 4, 2007,
Moody's Investors Service raised to B3 from Caa1 the corporate
family and probability of default ratings of HLI Operating
Company, Inc., a wholly-owned subsidiary of Hayes Lemmerz
International, and changed the rating outlook to stable from
negative.


KOESTER HOLZBAU: Claims Registration Period Ends October 1
----------------------------------------------------------
Creditors of Koester Holzbau GmbH have until Oct. 1 to register
their claims with court-appointed insolvency manager Andreas
Sontopski.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 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 Muenster
         Meeting Hall 119 B
         Gerichtsstr. 2-6
         48149 Muenster
         Germany

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

The insolvency manager can be reached at:

         Andreas Sontopski
         Gnoiener Platz 10
         48493 Wettringen
         Germany
         Tel: 02557/9384-0
         Fax: +492557938450

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

The Debtor can be reached at:

         Koester Holzbau GmbH
         Attn: Franz-Josef Garmann, Manager
         Zinkstrasse 7
         48432 Rheine
         Germany


LEDERWAREN WEBER: Creditors Must File Claims by September 3
-----------------------------------------------------------
Creditors of Lederwaren Weber GmbH have until Sept. 3 to
register their claims with court-appointed insolvency manager
Katrin Bringezu.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on Oct. 10, 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 Leipzig
         Hall 056
         Ground Floor
         Enforcement Court
         Bernhard Goering Strasse 64
         04275 Leipzig
         Germany

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

The insolvency manager can be reached at:

         Katrin Bringezu
         Prager Strasse 34
         04317 Leipzig
         Germany

The District Court of Leipzig opened bankruptcy proceedings
against Lederwaren Weber GmbH on Aug. 8.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Lederwaren Weber GmbH
         Markt 26
         04668 Grimma
         Germany


MINITEC ENGINEERING: Claims Registration Period Ends Sept. 11
-------------------------------------------------------------
Creditors of minitec engineering GmbH have until Sept. 11 to
register their claims with court-appointed insolvency manager
Joseph Albers.

Creditors and other interested parties are encouraged to attend
the meeting at 1:10 p.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 Essen
         Meeting Hall 293
         Second Floor
         Zweigertstr. 52
         45130 Essen
         Germany

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

The insolvency manager can be reached at:

         Joseph Albers
         Von-der-Recke-Str. 5-7
         45879 Gelsenkirchen
         Germany

The District Court of Essen opened bankruptcy proceedings
against minitec engineering GmbH on Aug. 6.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         minitec engineering GmbH
         Magdeburger Str. 16 a
         45881 Gelsenkirchen
         Germany

         Attn: Dr. Ernst Ekkehard Hammer, Manager
         Buehl 37
         45481 Muelheim an der Ruhr
         Germany


NEXT TRADING: Claims Registration Period Ends October 2
-------------------------------------------------------
Creditors of Next Trading GmbH have until Oct. 2 to register
their claims with court-appointed insolvency manager Michael
Moenig.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 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 Muenster
         Meeting Hall 119 B
         Gerichtsstr. 2-6
         48149 Muenster
         Germany

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

The insolvency manager can be reached at:

         Michael Moenig
         Von-Steuben-Strasse 20
         48143 Muenster
         Germany
         Tel: 0251/53599-0
         Fax: +492515359910

The District Court of Muenster opened bankruptcy proceedings
against Next Trading GmbH on Aug. 8.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Next Trading GmbH
         Bergstrasse 29a
         48143 Muenster
         Germany

         Attn: Christoph Sandkoetter
         Grafhorst 2
         48291 Telgte
         Germany


NOBAU GMBH: Creditors Must File Claims by August 29
---------------------------------------------------
Creditors of Nobau GmbH have until Aug. 29 to register their
claims with court-appointed insolvency manager Axel Bierbach.

Creditors and other interested parties are encouraged to attend
the meeting at 8:45 a.m. on Sept. 25, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Munich
         Meeting Hall 102
         Infanteriestr. 5
         80097 Munich
         Germany

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

The insolvency manager can be reached at:

         Axel Bierbach
         Schwanthaler Str. 32
         80336 Munich
         Germany

The District Court of Munich opened bankruptcy proceedings
against Nobau GmbH on Aug. 6.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Nobau GmbH
         Mauerkircherstr. 93
         81925 Munich
         Germany


PANDATEL AG: Shareholders Approve Plan to Liquidate Assets
----------------------------------------------------------
Pandatel AG's shareholders passed the resolution on application
for Pandatel's liquidation as well as an application for special
audit with more than 90% of the respective capital stock
entitled to vote at a shareholders meeting on Aug. 14, 2007.

Dowslake Venture Ltd. filed its application for liquidation on
March 28, 2007.  Dowslake claims Pandatel can no longer operate
and be sustainably profitable on its own.  This way,
shareholders would at least receive part of the remaining
liquidity.

During the meeting, minor shareholders filed an application for
special audit, mainly referring to fiscal year 2006, which the
shareholders meeting's chairman admitted to voting.

Dowslake Microsystems and Pandatel have a joint sales and
marketing agreement in place providing Dowslake Microsystems
full right to continue to serve its full customer base.

Headquartered in Hanover, Germany, Pandatel AG --
http://www.pandatel.com/-- specializes in Ethernet
technologies.


PRO ENERGIE: Claims Registration Ends September 14
--------------------------------------------------
Creditors of Pro Energie GmbH have until Sept. 14 to register
their claims with court-appointed insolvency manager Albert
Hirt.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on Oct. 15, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Ravensburg
         Hall 3
         Herrenstr. 42
         88212 Ravensburg
         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 Ravensburg opened bankruptcy proceedings
against Pro Energie GmbH on Aug. 8.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Pro Energie GmbH
         Huenlishofen 14
         88299 Leutkirch
         Germany


PRO FIT: Claims Registration Ends September 17
----------------------------------------------
Creditors of pro fit GmbH & Co. KG have until Sept. 17 to
register their claims with court-appointed insolvency manager
Anna Kuleba.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Oct. 31, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Anna Kuleba
         Niedersachsenstr. 14
         49074 Osnabrueck
         Germany
         Tel: 0541/3245499
         Fax: 0541/3245496
         E-Mail: a.kuleba@kuhmann.eu
         Web: http://www.kuhmann.eu/

The District Court of Osnabrueck opened bankruptcy proceedings
against pro fit GmbH & Co. KG on Aug. 9.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         pro fit GmbH & Co. KG
         Pagenstecher Str. 138
         49090 Osnabrueck
         Germany


PRUHS & DOEBBER: Claims Registration Period Ends October 8
----------------------------------------------------------
Creditors of Pruhs & Doebber Transporte GmbH have until Oct. 8
to register their claims with court-appointed insolvency manager
Stefan Meyer.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on Oct. 29, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court Muenster
         Meeting Hall 101 B
         Gerichtsstr. 2-6
         48149 Muenster
         Germany

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

The insolvency manager can be reached at:

         Stefan Meyer
         Ostertorstr. 7
         32312 Luebbecke
         Germany
         Tel: 05741-337300
         Fax: +495741337338

The District Court of Muenster opened bankruptcy proceedings
against Pruhs & Doebber Transporte GmbH on Aug. 9.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Pruhs & Doebber Transporte GmbH
         Dornierstrasse 10
         48477 Hoerstel
         Germany

         Attn: Thomas Doebber, Manager
         Himbeerweg 6
         49479 Ibbenbueren
         Germany


RD LORD: Claims Registration Ends September 25
----------------------------------------------
Creditors of RD-Lord-Hausbau GmbH have until Sept. 25 to
register their claims with court-appointed insolvency manager
Michael Hawelka.

Creditors and other interested parties are encouraged to attend
the meeting at 11:10 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 Leipzig
         Hall 145
         First Floor
         Insolvency Court
         Bernhard Goering Strasse 64
         04275 Leipzig
         Germany

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

The insolvency manager can be reached at:

         Michael Hawelka
         Nonnenstrasse 37
         04229 Leipzig
         Germany
         Tel: 0341/4866414
         Fax: 0341/4866428
         E-mail: HHH.Leipzig@t-online.de

The District Court of Leipzig opened bankruptcy proceedings
against RD-Lord-Hausbau GmbH on Aug. 8.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         RD-Lord-Hausbau GmbH
         Zschochersche Strasse 86
         04229 Leipzig
         Germany

         Attn: Siegfried Engelke
         Firlstrasse 9a
         12459 Berlin
         Germany


RINGFOTO TEGEL: Claims Registration Ends September 20
-----------------------------------------------------
Creditors of Ringfoto Tegel GmbH have until Sept. 20 to register
their claims with court-appointed insolvency manager Michael C.
Frege.

Creditors and other interested parties are encouraged to attend
the meeting at 11:55 a.m. on Sept. 20, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Michael C. Frege
         Lennestr. 7
         10785 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Ringfoto Tegel GmbH on Aug. 8.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Ringfoto Tegel GmbH
         Gorkistr.11-21
         13507 Berlin
         Germany


SANDER & LEHMANN: Creditors Must File Claims by September 6
-----------------------------------------------------------
Creditors of Sander & Lehmann GmbH have until Sept. 6 to
register their claims with court-appointed insolvency manager
Jan Gartner.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on Oct. 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 Dresden
         Hall D131
         Olbrichtplatz 1
         01099 Dresden
         Germany

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

The insolvency manager can be reached at:

         Jan Gartner
         Weisseritzstrasse 3
         01067 Dresden
         Germany

The District Court of Dresden opened bankruptcy proceedings
against Sander & Lehmann GmbH on Aug. 6.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Sander & Lehmann GmbH
         Zauckeroder Str. 9
         01705 Freital
         Germany


SCHIEDER MOEBEL: Unit Attracts Two Buyers Following Major Order
---------------------------------------------------------------
Klaus Pannen, the insolvency administrator for Schieder-
Moebelwerke GmbH has revealed that two potential investors are
eyeing the company's main factory after receiving a major order
from a German discount retailer, The Financial Times reports,
citing Suddeutsche Zeitung as its source.

According to the report, the order is worth EUR3.5 million.

The insolvency administrator, however, did not provide further
details on the transaction.

                     About Schieder Moebel

Headquartered in Herford, Germany, Schieder Moebel Holding GmbH
-- http://www.schieder.com/-- is one of the leading furniture
designers and manufacturers in Europe.  The company has 41
production plants and employs 11,000 people worldwide, 9,000 of
which in Poland.  It had turnover of EUR950 million in the
financial year 2005/06.

Schieder applied for insolvency proceedings at the District
Court of Detmold on June 22, 2007, after incurring debts of
nearly EUR300 million due to high capital costs.  The company's
65 subsidiaries followed suit a few days later when it filed for
insolvency protection on June 26.


SCHUH KRAHER: Claims Registration Ends September 26
---------------------------------------------------
Creditors of Schuh- Kraher GmbH have until Sept. 26 to register
their claims with court-appointed insolvency manager Kai Dellit.

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

The meeting of creditors will be held at:

         The District Court of Chemnitz
         Hall 24 E
         Fuerstenstrasse 21
         09130 Chemnitz
         Germany

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

The insolvency manager can be reached at:

         Kai Dellit
         Michaelstrasse 71
         09116 Chemnitz
         Germany
         Tel: (0371) 381770
         Fax: (0371) 3817730
         E-mail: chemnitz@hww-kanzlei.de

The District Court of Chemnitz opened bankruptcy proceedings
against Schuh- Kraher GmbH on Aug. 8.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Schuh- Kraher GmbH
         Attn: Jens Kraher, Manager
         Erdmannsdorfer Strasse 1
         09120 Chemnitz
         Germany


SCHWENK UNTERNEHMENSBERATUNGS: Claims Registration Ends Sept. 26
----------------------------------------------------------------
Creditors of Schwenk Unternehmensberatungs GmbH have until
Sept. 26 to register their claims with court-appointed
insolvency manager Fatma Kreft.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Oct. 17, 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 Offenbach am Main
         Hall 166N
         First Floor
         Building K18
         Kaiserstrasse 16-18
         63065 Offenbach am Main
         Germany

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

The insolvency manager can be reached at:

         Fatma Kreft
         Neue Mainzer Str. 84
         60311 Frankfurt am Main
         Germany
         Tel: 069/6773677-0
         Fax: 069/6773677-20

The District Court of Offenbach am Main opened bankruptcy
proceedings against Schwenk Unternehmensberatungs GmbH on
Aug. 6.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Schwenk Unternehmensberatungs GmbH
         Attn: Wolfgang Schwenk, Manager
         Frankfurter Str. 42-44
         63263 Neu-Isenburg
         Germany


SPARHUBER METALL: Claims Registration Period Ends Sept. 11
----------------------------------------------------------
Creditors of Sparhuber Metall- und Maschinenbau GmbH have until
Sept. 11 to register their claims with court-appointed
insolvency manager Arndt Geiwitz.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 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 Augsburg
         Meeting Hall 162
         Alten Einlass 1
         86150 Augsburg
         Germany

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

The insolvency manager can be reached at:

         Arndt Geiwitz
         Eserwallstr. 1-3
         86150 Augsburg
         Germany

The District Court of Augsburg opened bankruptcy proceedings
against  Sparhuber Metall- und Maschinenbau GmbH on Aug. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Sparhuber Metall- und Maschinenbau GmbH
         Heiligenangerstrasse 28
         86179 Augsburg
         Germany


SPECTRUM BRANDS: Names John Bowlin as Board Chairman
----------------------------------------------------
Spectrum Brands Inc. has appointed John D. Bowlin as Chairman of
the Board.  Mr. Bowlin replaces David A. Jones, who is resigning
his position as a director after serving as Chairman of the
Board since 1996, and as Chief Executive Officer from 1996 until
May 23, 2007.  Mr. Bowlin has been a director of Spectrum Brands
since May 2004 and is a member of the Audit Committee and the
Nominating and Corporate Governance Committee.

"The other Board members and I congratulate John on his
appointment," said Kent Hussey, chief executive officer of
Spectrum Brands.  "We appreciate his continued service to the
company and believe Spectrum will benefit significantly from his
leadership and extensive experience at some of the world's
largest consumer products companies as we continue to make
progress on our strategy to improve operational performance
while reducing our leverage and interest burden.  I look forward
to working closely with him as Spectrum addresses the challenges
and opportunities ahead."

Mr. Hussey continued, "Dave Jones' entrepreneurial leadership
and guidance over the past eleven years have been a driving
force behind the growth of Spectrum Brands into the world-class
consumer products company that it is today.  On behalf of the
entire Board and the employees and customers at Spectrum, we
thank him for his leadership and contributions as chairman
and CEO and wish him well in his future endeavors."

Mr. Bowlin has over 30 years of managerial and operational
experience in the consumer products industry.  Most recently, he
was president and chief executive officer of SABMiller PLC from
2002 to 2003.  Prior to that, he held several senior executive
positions at Phillip Morris Companies, Inc., including serving
as chief executive officer of Miller Brewing Company from 1999
to 2002, president and chief executive officer of Kraft Foods
International from 1996 to 1999 and as Kraft North America's
president and chief operating officer from 1994 to 1996, and
president of Oscar Meyer Food Corporation from 1991 to 1993.
Previously, he held various positions at General Foods
Corporation.  In addition to his role at Spectrum Brands,
Mr. Bowlin currently serves as a board member at a number of
privately-held companies.

Headquartered in Atlanta, Georgia, Spectrum Brands (NYSE: SPC)
-- http://www.spectrumbrands.com/-- is a consumer products
company and a supplier of batteries and portable lighting, lawn
and garden care products, specialty pet supplies, shaving and
grooming and personal care products, and household insecticides.
Spectrum Brands' products are sold by the world's top 25
retailers and are available in more than one million stores in
120 countries around the world.  The company has manufacturing
and distribution facilities in China, Australia and New Zealand,
and sales offices in Melbourne, Shanghai, and Singapore.

The company's European headquarters is located in Sulzbach,
Germany.
                       *     *     *

As reported in the Troubled Company Reporter on April 30, 2007,
Fitch Ratings affirmed the ratings of Spectrum Brands Inc.,
including its CCC issuer default rating, its CCC- rating of the
company's US$700 million 7-3/8% senior subordinated note due
2015 and its CCC- rating of the company's US$350 million 11.25%
Variable Rate Toggle Interest pay-in-kind Senior Subordinated
Note due 2013.  Fitch said the outlook remains negative.


TOTH GMBH: Claims Registration Ends September 21
------------------------------------------------
Creditors of Toth GmbH have until Sept. 21 to register their
claims with court-appointed insolvency manager Christian
Zschocke.

Creditors and other interested parties are encouraged to attend
the meeting at 11:30 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 Konstanz
         Hall 102
         First Floor
         Gerichtstrasse 9
         78462 Konstanz
         Germany

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

The insolvency manager can be reached at:

         Christian Zschocke
         Enge Str. 2
         78224 Singen
         Germany

The District Court of Konstanz opened bankruptcy proceedings
against Toth GmbH on Aug. 7.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Toth GmbH
         Grubstr. 1
         78224 Gottmadingen-Bietingen
         Germany


WIECZORECK VERWALTUNGSGESELLSCHAFT: Claims Filing Ends Sept. 10
---------------------------------------------------------------
Creditors of Wieczoreck Verwaltungsgesellschaft mbH have until
Sept. 10 to register their claims with court-appointed
insolvency manager Stefan Bick.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 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 Osnabrueck
         Hall N 301
         Kollegienwall 10
         49074 Osnabrueck
         Germany

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

The insolvency manager can be reached at:

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

The District Court of Osnabrueck opened bankruptcy proceedings
against Wieczoreck Verwaltungsgesellschaft mbH on Aug. 6.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Wieczoreck Verwaltungsgesellschaft mbH
         Nahner Feld 1
         49082 Osnabrueck
         Germany


WINGS GMBH: Claims Registration Period Ends October 2
-----------------------------------------------------
Creditors of WINGS GmbH have until Oct. 2 to register their
claims with court-appointed insolvency manager Joachim
Schneider.

Creditors and other interested parties are encouraged to attend
the meeting at 1:10 p.m. on Nov. 6, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Gera
         Rudolf-Diener-Str. 1
         Zimmer 317
         Germany

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

The insolvency manager can be reached at:

         Joachim Schneider
         Tatzendpromenade 2
         07745 Jena
         Germany

The District Court of Gera opened bankruptcy proceedings against
WINGS GmbH on Aug. 7.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be reached at:

         WINGS GmbH
         Attn: Mario Roensch, Manager
         Ernst-Abbe-Platz 5
         07743 Jena
         Germany


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


AES CORP: Fitch Affirms B+ Issuer Default Rating
------------------------------------------------
Fitch Ratings has affirmed AES Corporation's Issuer Default
Rating at 'B+', and assigned a short-term IDR of 'B'.

Fitch has also taken these rating actions:

* AES
  -- Senior unsecured to 'BB/RR1' from 'BB/RR2'

* AES Trust III
  -- Trust preferred securities to 'B+/RR4' from 'B/RR5'.

* AES Trust VII
  -- Trust preferred securities to 'B+/RR4' from 'B/RR5'.

In addition, Fitch affirms these ratings:

* AES
  -- Senior secured credit facility at 'BB+/RR1';
  -- Junior secured notes at 'BB+/RR1'.

The positive rating actions reflect improvement in asset values
based on Fitch's updated recovery analysis.  Fitch uses a
stressed valuation for AES' assets, most of which are valued on
a discounted cash flow basis using a discount rate and terminal
multiple specific to each asset's operating and financial risks.
The stressed valuation is not reflective of AES' current value
as a going concern, and Fitch notes the estimated asset values
may be below current market levels.  The trust preferred
securities also benefited from the company's redemption in 2006
of senior subordinated notes, which reduced the structural
subordination of the trust preferred securities.

AES's ratings reflect the high level of parent-company recourse
debt, the structural subordination of that debt to project level
debt, the reliance on distributions from its subsidiaries for
parent-company debt service, and the shift in management's focus
to growth from improving credit quality.  The ratings also
reflect the company's large base of cash flows from utility
operations and contracted generation as well as the
diversification of cash flow sources.  The Stable Rating Outlook
reflects Fitch's expectation that credit metrics will stay
within parameters for the current rating as the company focuses
its cash on investing rather than debt reduction for the next
several years.

One area of concern is the company's continued problems with its
financial reporting.  AES has restated its financials five times
during the last three years, and delayed filing its 10-K twice.
Resolving the remaining Sarbanes-Oxley issues may result in
further restatements and delays.  Although the restatements have
been relatively minor and non-cash in nature, the delays caused
technical defaults under the company's bank covenants.  While
AES received waivers from its lenders in the past, the current
credit conditions may increase the difficulty of obtaining
future waivers and cause lenders to demand terms less favorable
to the company.  The financial reporting problems also highlight
the challenges of managing operations spread across the world.

The current rating action does not affect the ratings of other
AES affiliates rated by Fitch.  In general, these rated entities
are bankruptcy remote from AES by virtue of their legal
structure or by virtue of their country of location.

Fitch's Recovery Ratings are a relative indicator of creditor
recovery prospects on a given obligation within an issuers'
capital structure in the event of a default.

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.  The company's Latin America business
group is comprised of generation plants and electric utilities
in Argentina, Brazil, Chile, Colombia, Dominican Republic, El
Salvador, Panama and Venezuela.

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.
                       *     *     *

On 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.

Fitch's Recovery Ratings are a relative indicator of creditor
recovery prospects on a given obligation within an issuers'
capital structure in the event of a default.


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


ALITALIA SPA: Chairman Sets Union Meeting to Tackle Sale
--------------------------------------------------------
Alitalia S.p.A. chairman Maurizio Prato will meet trade unions
on Sept. 3, 2007, to discuss the strategy to sell the ailing
carrier, the Financial Times reports citing a spokesman for the
airline.

Mr. Prato will resume talks with potential buyers for the
Italian government's 39.9% stake in Alitalia by either the end
of this month or early September, FT says citing a source privy
to the carrier.

According to FT, possible buyers include AirOne, TPG Capital,
Air France-KLM and OAO Aeroflot.

Alitalia's spokesperson, meanwhile, confirmed that AZ Servizi,
the carrier's spun off ground service unit, will underwrite a
EUR62.6 million capital increase.

As reported in the TCR-Europe on Aug. 8, 2007, Mr. Prato plans
to restructure AZ Servizi as part of the business plan to
turnaround the national carrier.

Mr. Prato eyes to reacquire parts of AZ Servizi back to
Alitalia, like maintenance services and handling activities,
after the units have been restructured.  Mr. Prato also plans to
sell parts of AZ Servizi, like airport handling, computer
services, and call center activities, the report adds.

The unions, however, are averse to the plan, FT relates citing
local press.

                          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.


ALITALIA SPA: Hikes July 2007 Cargo Traffic by 4%
-------------------------------------------------
Alitalia S.p.A. has released its July 2007 traffic data with
comparative analysis with the same period in 2006.

The data showed an increase in cargo business and no difference
in passenger business.

Passenger business showed both levels of capacity offered
(-0.1%) and traffic in line with the same period of 2006.

July 2007 Cargo statistics, compared to July 2006, showed an
increase in terms of goods flown (+4%) with capacity offered
decreased by 5.6%.

                      Passengers Operations

Traffic, measured in Revenue Passenger Kilometers, and capacity
offered, measured in Available Seat Kilometers, showed levels in
line with 2006.   Therefore load factor was in line with July
2006 (+0.1 percentage points) reaching 79.5%.

Alitalia carried 2.4 million passengers, up 2.4% compared to the
same period in 2006.

Detailed comparisons with July 2006:

   -- Domestic Passenger Network: traffic increased by 5.4% with
      capacity offered up 2.5%.  Load factor was 71.3%;

   -- International Passenger Network: traffic decreased by 0.7%
      and capacity offered decreased by 1.5%.  Load factor was
      77.3%.

   -- Intercontinental Passenger Network: traffic decreased by
      1.1% with capacity offered in line with July 2006.  Load
      factor was 84.2%.

                         Cargo Operations

July 2007 Cargo performance showed, compared to July 2006, a
traffic increase by 4% (measured in terms of Revenue Ton
Kilometers) with capacity offered decreased by 5.6%.

Overall Load factor was 66% with an increase by 6.1 percentage
points.

                          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.


ITALFINANCE SECURITISATION: S&P Cuts Class A Bond Ratings to BB+
----------------------------------------------------------------
Standard & Poor's Ratings Services has downgraded and placed on
CreditWatch with negative implications the series 2006-1 class A
notes issued by Italfinance Securitisation Vehicle S.r.l.  At
the same time, the series 2006-1 class B notes were affirmed.

Given the breadth of Banca Italease support and the
deterioration of the credit quality of Banca Italease, the class
A notes were downgraded to 'BB+' and placed on CreditWatch with
negative implications.

Standard & Poor's downgraded the class A notes after placing
them on CreditWatch developing on June 12, 2007.  Since then,
the credit quality of Banca Italese SpA, one of the originators
and servicers in the Italfinance transaction, has deteriorated
further.   The ratings on the Italfinance series 2006-1 class A
and B notes are supported by Banca Italease's credit quality.
This linkage affects the cash flow analysis, as Standard &
Poor's assumes that Banca Italease is active in sustaining the
transaction.

Italfinance 2006-1 was backed at closing by a portion of the
remuneration of the junior unrated asset-backed notes issued by
Italease Finance SpA series 2002-1, 2003-1, 2004-1, and 2005-1.
Following the redemption in July 2007 of Italease 2002-1, the
transaction is now backed only by the portion of the junior
remuneration related to series 2003-1, 2004-1, and 2005-1.

Standard & Poor's ratings on the notes relied on Banca Italease
providing support in several ways:

   -- S&P's rating assumptions included recoveries from the sale
      or re-leasing of the assets, giving higher recoveries from
      the portfolio.

   -- Servicing fees were modeled as detailed in the servicing
      agreement.

   -- Under the transactions, collections from the borrowers are
      deposited in accounts opened in Banca Italease's name, and
      transferred within one business day to the original issuer
      account.  A risk of commingling may arise if Banca
      Italease and/or any of its account banks default.  Banca
      Italease indemnifies the original issuer for any amount
      lost or frozen due to the default of any of its account
      banks where collections are credited.

   -- For Italease Finance SpA series 2003-1 only, for the
      amount recovered through sale or re-lease of the assets
      for the defaulted receivables, Banca Italease indemnifies
      the original issuer for any amount lost or frozen due to
      the default of Banca Italease network.

Following the rating action, the cash flow model for the class A
and B notes continues to factor in that the originator will take
an active role.

As a consequence of Moody's downgrade of Banca Italease to Ba1,
excess spread in the Italease 2005-1 transaction will be trapped
up to 2.25% of the initial balance of the senior notes.  The
lower income available in Italfinance 2006-1 might be not enough
to pay interest on the class B notes for several interest
payment dates. However, the class B notes are interest-
deferrable notes and Standard & Poor's rating on these notes
addresses ultimate payment of interest and principal.  In the
cash flow model used at closing, several periods of unpaid
interest on the class B notes were observed at the current
rating category.

                          Ratings List

Italfinance Securitisation Vehicle S.r.l
   EUR191.765 Million Asset-Backed Floating-Rate Notes Series
   2006-1

           Class                      Rating
                            To                  From

         Rating Lowered And Placed On CreditWatch Negative

            A                BB+/Watch Neg       BBB-/Watch Dev

                            Rating Affirmed

            B                 BB


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


ALATAU-SHYNY LLP: Proof of Claim Deadline Slated for Sept. 20
-------------------------------------------------------------
The Specialized Inter-Regional Economic Court of Jambyl has
declared LLP Alatau-Shyny insolvent on June 19.

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

         The Specialized Inter-Regional
         Economic Court of Jambyl
         Shokalakov Str. 57
         Taraz
         Jambyl
         Kazakhstan


BAISERKE-A LLP: Creditors Must File Claims Sept. 20
---------------------------------------------------
The Specialized Inter-Regional Economic Court of Akmola has
declared LLP Baiserke-A insolvent on June 20.

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

         The Specialized Inter-Regional
         Economic Court of Akmola
         Room 308
         Abai Str. 89
         Kokshetau
         Akmola
         Kazakhstan
         Tel: 8 (3162) 25-51-74


BUMASKURYLYS LLP: Claims Filing Period Ends Sept. 20
----------------------------------------------------
The Specialized Inter-Regional Economic Court of Pavlodar has
declared LLP Bumaskurylys insolvent.

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

         The Specialized Inter-Regional
         Economic Court of Pavlodar
         Satpayev Str. 136-208
         Pavlodar
         Kazakhstan
         Tel: 8 (3182) 32-15-92


DRUJININ LLP: Creditors' Claims Due on Sept. 21
-----------------------------------------------
The Specialized Inter-Regional Economic Court of Kyzylorda has
declared LLP Drujinin insolvent on June 27.

Creditors have until Sept. 21 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Kyzylorda
         Jahayev Str. 71
         Kyzylorda
         Kazakhstan
         Tel: 8 (32422) 27-15-73
              8 (32422) 27-23-65


KAZAKHSTAN-1 LLP: Claims Registration Ends Sept. 20
---------------------------------------------------
The Specialized Inter-Regional Economic Court of Akmola has
declared LLP Kazakhstan-1 insolvent on June 21.

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

         The Specialized Inter-Regional
         Economic Court of Akmola
         Room 308
         Abai Str. 89
         Kokshetau
         Akmola
         Kazakhstan
         Tel: 8 (3162) 25-51-74


KOKSU-MAL DERIGER: Proof of Claim Deadline Slated for Sept. 21
--------------------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty has
declared LLP Koksu-Mal Deriger insolvent.

Creditors have until Sept. 21 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Almaty
         Tauelsyzdyk Str. 54-10
         Taldykorgan
         Almaty
         Kazakhstan
         Tel: 8 (3272) 24-28-49
              8 701 487 22-65


KONDYBAI LLP: Creditors Must File Claims Sept. 20
-------------------------------------------------
The Specialized Inter-Regional Economic Court of Jambyl has
declared LLP Kondybai insolvent on June 15.

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

         The Specialized Inter-Regional
         Economic Court of Jambyl
         Shokalakov Str. 57
         Taraz
         Jambyl
         Kazakhstan


KYZYLSAY LLP: Claims Filing Period Ends Sept. 27
------------------------------------------------
The Specialized Inter-Regional Economic Court of Akmola has
declared LLP Kyzylsay insolvent.

Creditors have until Sept. 27 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


NORDINCOM-PV LLP: Creditors' Claims Due on Sept. 20
---------------------------------------------------
The Specialized Inter-Regional Economic Court of Pavlodar has
declared LLP Nordincom-PV insolvent.

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

         The Specialized Inter-Regional
         Economic Court of Pavlodar
         Satpayev Str. 136-208
         Pavlodar
         Kazakhstan
         Tel: 8 (3182) 32-15-92


TEKELI-AK-KAIR LLP: Claims Registration Ends Sept. 20
-----------------------------------------------------
The Tax Committee of Almaty region has decided on the compulsory
liquidation of LLP Tekeli-Ak-Kair (RNN 092300210421).

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

         The Tax Committee of Almaty
         Room 208
         Jangusurov Str. 113a
         Taldykorgan
         Almaty
         Kazakhstan
         Tel: 8 (3282) 24-19-77


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


ASIA-METALL LLC: Proof of Claim Deadline Slated for September 21
----------------------------------------------------------------
Joint Kyrgyz-Uzbek LLC Asia-Metall has declared insolvency.
Creditors have until Sept. 21 to submit written proofs of claim
to:

         Joint Kyrgyz-Uzbek LLC Asia-Metall
         Tolstoy Str. 57
         Bishkek
         Kyrgyzstan
         Tel: (0-555) 76-61-44


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


HUNTSMAN CORP: Paying US$0.10/Share Dividend on Sept. 28
--------------------------------------------------------
The board of directors of Huntsman Corporation has declared a
US$0.10 per share cash dividend on its common stock.  The
dividend is payable on Sept. 28, 2007, to stockholders of record
as of Sept. 15, 2007.

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.


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


AURELIA ENERGY: Moody's Withdraws Ba3 Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service withdrew the Ba3 corporate family
rating assigned to Aurelia Energy N.V. with a negative outlook.

Moody's has withdrawn this rating at the request of the company.
This follows the redemption of Bluewater Finance Limited's
US$335 million 10.25% senior notes due 2012 on Aug. 10, 2007.

Withdrawn ratings include:

   -- Ba3 corporate family rating of Aurelia Energy N.V.;

   -- Ba3 probability of default rating of Aurelia Energy N.V.;

   -- Ba2 rating of the Senior Secured Bank Credit Facility of
      Bluewater Holding B.V.; and

   -- LGD3 -- 32% LGD rating of the Senior Secured Bank Credit
      Facility of Bluewater Holding B.V.

Headquartered in Hoofddorp, The Netherlands, Aurelia Energy N.V.
is the holding company for the Bluewater group, that currently
owns a fleet of seven floating, production, storage and
offloading vessels including one vessel under construction and a
55% interest it holds in another vessel, the Jotun.  In addition
to its FPSO business, the group also designs and supplies
single-point mooring systems to the oil industry.  Bluewater
currently finances itself at the Bluewater Holding B.V. with
secured bank credit facilities following the redemption of its
subordinated bond at Bluewater Finance Ltd level.


AZOVSTAL CAPITAL: Moody's Keeps B2 Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service, Inc confirmed the B3 rating for the
senior unsecured loan participation notes due 2011 issued by
Azovstal Capital B.V., a Dutch special purpose vehicle.

The notes are issued for the sole purpose of financing Azovstal
Capital B.V.'s 100% sub-participation in a loan extended by
Moscow Narodny Bank Limited to Azovstal Iron and Steel Works.
The corporate family rating of Azovstal was left unchanged at
B2.

At the same time, the outlook on all ratings was changed to
developing, based on the fact that shareholders intend to
consolidate steel and mining assets including Azovstal into a
holding company in the next 6 to 12 months.  The final group
structure and Azovstal's position is not clear and will need to
be re-assessed once the new structure has been put in place.

The developing outlook reflects the expectation that the
creation of such a group should improve Azovstal's vertical
integration and strengthen its business profile, which could put
upward pressure on the current corporate family ration of
Azovstal.  However, the uncertainty with respect to the
financial profile of the group weighs negatively on the current
ratings.

The B2 rating reflects:

   (i) the company's stable operational and financial results in
       2006 and first six months of 2007 underpinned by
       continued benign market conditions for Ukrainian steel
       producers;

  (ii) expectation that on-going capex investments aimed at
       efficiency gains will enable the company to better
       control costs and at the same time to develop higher
       value-added products which would help to reduce earnings
       volatility going forward.

The B3 rating for the senior unsecured loan participation notes
was confirmed reflecting the fact that the company substantially
reduced the amount of secured debt from 47% of gross debt in
February 2007 to a level below 20% as of June 2007 adjusted for
the amount of currently unutilized secured credit lines and
trade claimed to third parties are treated as secured
indebtedness.

Outlook Actions:

   * Issuer: Azovstal Capital B.V.

     -- Outlook, Changed To Developing From Rating Under Review.

   * Issuer: Azovstal Iron & Steel Works

     -- Outlook, Changed To Developing From Stable.

Confirmations:

   * Issuer: Azovstal Capital B.V.

     -- Senior Unsecured Regular Bond/Debenture, Confirmed at
        B3.

Azovstal, located in Mariupol on the shore of Azov Sea, is
Ukraine's third-largest steel producer with an annual production
capacity of 6.5 million mt.  The company reported sales of UAH
12,457 billion (approximately US$2.47 billion) and EBITDA of UAH
1,939 billion (about US$384 million) in 2006.  Azovstal is
majority-owned by Ukrainian metals and mining conglomerate
System Capital Management.


HARBOURMASTER CLO 4: Fitch Rates Classes B2E & B2F Notes at BB
--------------------------------------------------------------
Fitch Ratings has affirmed the ratings of Harbourmaster CLO 4
B.V. notes following a satisfactory performance review:

   -- EUR337 million Class A1 floating-rate notes
      (XS0203060339): 'AAA'

   -- EUR28 million Class A2E floating-rate notes
      (XS0203060925): 'AAA'

   -- EUR40 million Class A2F fixed-rate notes (XS0203061063):
      'AAA'

   -- EUR32 million Class A3 floating-rate notes (XS0203061493):
      'AA'

   -- EUR16 million Class A4 floating-rate notes (XS0203061659):
      'A'

   -- EUR11 million Class B1 floating-rate notes (XS0203061907):
      'BBB'

   -- EUR4 million Class B2E floating-rate notes (XS0203063945):
     'BB'

   -- EUR6 million Class B2F fixed-rate notes (XS0203062467):
      'BB'

   -- R50 million Class S1 combination notes: 'AAA'

   -- EUR6 million Class S2 combination notes: 'BBB-'

Harbourmaster 4 is an arbitrage cash CLO backed by a diversified
portfolio of leveraged loans.

The affirmation reflects the consistent credit quality of the
portfolio to date.  The credit quality is stable with a current
weighted average rating factor of 25.9 compared to 25.7 as of
the October 2006 payment date; both WARFs are equivalent to a
'B+'/'B' rating.  There are no loans in the portfolio rated
'CCC+' or below, and there have been no defaults since closing.
As of the July 4, 2007 trustee report, the transaction is in
compliance with portfolio guidelines and satisfies Fitch's
coverage tests.  The Class A Interest Coverage ratio as shown in
the monthly trustee reports has reduced slightly over time, but
remains well above the minimum required threshold with a cushion
of 51.92% as of the July 2007 report.

The ratings of the Classes A1 and A2 notes address ultimate
repayment of principal at maturity and timely payment of
interest when due.  For all other classes of notes, the ratings
address ultimate payment of principal and interest, including
deferred interest, at maturity.  The rating on the S1 combo note
addresses the ultimate payment of principal from funds received
on their components (interest and principal), while that for the
S2 combo notes addresses the ultimate payment of principal and
interest at a coupon rate of EURIBOR.

Harbourmaster 4 is the fourth European CLO managed by
Harbourmaster Capital Limited advised by Harbourmaster Capital
Management Limited (rated 'CAM2' on Fitch's CDO Asset Manager
Rating scale).

The transaction constitutes a securitization of primarily senior
secured loans and the underlying assets will be replenished in
accordance to portfolio guidelines and various financial
covenants with respect to obligor, industry and asset type
concentration.  The issuer can also enter into a sub-
participation agreement with financial institutions rated 'A' or
above, subject to restrictions.  The issuer, Harbourmaster 4, is
a limited liability company incorporated under the laws of the
Netherlands.


HARBOURMASTER CLO 5: Fitch Rates EUR28.4 Million Notes at Low-B
---------------------------------------------------------------
Fitch Ratings has affirmed the ratings of Harbourmaster CLO 5
BV's EUR764.5 million notes due 2020:

   -- EUR490 million Class A1 floating-rate notes: 'AAA'
   -- EUR94.7 million Class A2E floating-rate notes: 'AAA'
   -- EUR37.3 million Class A2F notes: 'AAA'
   -- EUR32 million m Class A3 floating-rate notes: 'AA'
   -- EUR9 million Class A4E floating-rate notes: 'A'
   -- EUR16 million Class A4F notes: 'A'
   -- EUR4 million Class B1E floating-rate notes: 'BBB'
   -- EUR15 million Class B1F notes: 'BBB'
   -- EUR8.3 million Class B2E floating-rate notes: 'BB'
   -- EUR6.7 million Class B2F notes: 'BB'
   -- EUR 13.4 million Class S1 combination notes: 'BB-'
   -- EUR20 million Class S2 combination notes: 'A'
   -- EUR25 million Class S3 combination notes: 'A'

The affirmation reflects the transaction's consistent
performance to date.  The Weighted Average Fitch Factor has
slightly improved to 25.5 now compared to 25.7 in September 2006
(each equivalent to a 'B+'/'B' rating).  There are no loans in
the portfolio rated 'CCC+' or below and there have been no
defaults since closing.  As of the June 2007 trustee report, the
transaction is in compliance with all the portfolio guidelines
and coverage tests.  The Class A Interest Coverage Ratio has
reduced slightly over time before stabilizing again since March
2007, but has consistently remained well above the minimum
required threshold with a cushion of 54.71% as of the 29 June
2007 trustee report.

The ratings of the Classes A1 and A2 notes address ultimate
repayment of principal at maturity and timely payment of
interest when due.  For all other classes of notes, the ratings
address ultimate payment of principal and interest, including
deferred interest, at maturity.  The ratings assigned to the S1,
S2 and S3 combo notes address the ultimate payment of principal
from funds received on their components (interest and
principal).

The transaction constitutes a securitization of primarily senior
secured and unsecured loans forming a portfolio managed by
Harbourmaster Capital Limited advised by Harbourmaster Capital
Management Limited (rated 'CAM2' on Fitch's CDO Asset Manager
Rating scale).  The issuer, Harbourmaster CLO 5 B.V., is a
limited liability company incorporated under the laws of the
Netherlands.  The transaction completed the ramp-up period in
November 2005, following which it remains in the re-investment
period until September 2010.


HARBOURMASTER CLO 6: Fitch Rates EUR25.3 Million Notes at BB
------------------------------------------------------------
Fitch Ratings has affirmed Harbourmaster CLO 6 B.V.'s EUR474
million notes due 2020:

   -- EUR327.6 million Class A1 floating-rate notes at 'AAA'

   -- EUR71.0 million Class A2 floating-rate notes at 'AAA'

   -- EUR32.0 million Class A3 floating-rate notes at 'AA'

   -- EUR4.5 million Class A4E floating-rate notes at 'A'

   -- EUR8.0 million Class A4F notes at 'A'

   -- EUR15.6 million Class B1 floating-rate notes at 'BBB'

   -- EUR15.3 million Class B2 floating-rate notes at 'BB'

   -- EUR5.0 million Class S1 combination notes due 2020 at 'BB'

   -- EUR10.0 million Class S2 combination notes due 2020 at 'A'

   -- EUR10.0 million Class S3 combination notes due 2020 at
      'AAA'

   -- EUR10.0 million Class S4 combination notes due 2020 at
      'BBB'

   -- EUR3.0 million Class S5 combination notes due 2020 at
      'BBB+'

   -- EUR5.0 million Class S6 combination notes due 2020 at 'BB'

Fitch has carried out a rating review of the transaction and has
found consistent performance to date.  As of the June 2007
trustee report, the transaction is in compliance with all the
portfolio guidelines and coverage tests.  There have been no
defaults to date and no asset is rated 'CCC+' or below.

This transaction constitutes a securitization of primarily
senior secured and unsecured (maximum of 5% of the portfolio)
loans.  The issuer, Harbourmaster CLO 6 B.V., is a limited
liability company incorporated under the laws of the
Netherlands.  It issued various classes of fixed- and floating-
rate notes using the proceeds to purchase a EUR503 million
portfolio of loans.  The transaction completed the ramp-up
period in March 2006 and is currently in the re-investment
period ending in January 2011.  The credit quality is stable
with a current weighted average rating factor of 25.6 compared
to 25.5 in September 2006; both WARFs are equivalent to a
'B+'/'B' rating.  There are no loans in the portfolio rated
'CCC+' or below, and there have been no defaults since closing.
The transaction is the seventh collateralized debt obligation
managed by Harbourmaster Capital Limited advised by
Harbourmaster Capital Management Limited (rated 'CAM2' on
Fitch's CDO Asset Manager Rating scale).

The ratings of the Class A1 and A2 notes address ultimate
repayment of principal at maturity and timely payment of
interest when due.  For all other rated classes of notes (other
than the combination notes), the ratings address ultimate
payment of principal and interest, including deferred interest,
at maturity.  The ratings assigned to the S1, S2, S3 and S5
combination notes address the ultimate payment of principal from
funds received on their respective components of A1 to the
unrated C notes (interest and principal), while for the S4 and
S6 combination notes, the ratings address the ultimate payment
of principal and interest on the remaining outstanding rated
balance at a coupon rate of EURIBOR.


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


EXIDE TECHNOLOGIES: Wants Until October 31 to Object to Claims
--------------------------------------------------------------
Exide Technologies asks the U.S. Bankruptcy Court for the
District of Delaware to extend the time by which it may object
to certain claims for approximately 90 days, through and
including October 31, 2007.

Pursuant to the confirmed Joint Plan of Reorganization, the
Debtors, as reorganized, may object to claims filed against them
on or before the later of:

  (a) 90 days after the effective date of the Plan; or

  (b) within additional period of time as the Court may allow
      the Reorganized Debtor's further request.

Exide Technologies has previously obtained six extensions of the
Claims Objection Bar Date.

Matthew N. Kleiman, Esq., at Matthew N. Kleiman, P.C., in
Chicago, Illinois, relates that more than 6,100 proofs of claim,
seeking an aggregate of US$4,400,000,000, were filed in the
Chapter 11 cases.  Exide Technologies has filed 45 omnibus
claims objections, two individual objections to claims, and has
consensually resolved numerous other claims.

Through Exide Technologies', the Postconfirmation Committee of
Unsecured Creditors' and each of their professionals' efforts,
approximately 5,970 claims have been reviewed, reconciled and
resolved, reducing the total amount of outstanding claims by
over US$3,200,000,000.

Further, Mr. Kleiman narrates, Exide Technologies has completed
13 quarterly distributions to creditors under the Plan,
consisting of distributions on 2,508 claims in the aggregate
amount of US$1,660,000,000.

Moreover, the progress made through the claims reconciliation
process since the previous request for an extension has been
substantial, Mr. Kleiman says.  Since April 2007, Exide has
filed five claims objections, covering approximately 172 Claims.
It has also resolved numerous additional Claims, including
several top 100 claims, effectuated a quarterly distribution,
and further reduced the amount of Claims to review and resolve
by US$78,100,000.

However, despite the substantial progress, the Reorganized
Debtor requires additional time to review and resolve
approximately 125 remaining Claims, Mr. Kleiman avers.

Accordingly, the Reorganized Debtor asks the Court to grant the
proposed extension to the Claims Objection Bar Date.

Mr. Kleiman asserts that the requested extension will provide
Exide Technologies and the Committee with necessary time to
continue to evaluate the remaining claims filed against the
estate,  prepare and file additional objections to claims and,
where possible, consensually resolve claims.

Exide Technologies requests that the entry of an extension be
without prejudice to its right to seek further extensions of the
time within which to object to the claims.

By application of Del.Bankr.LR 9006-2, the Reorganized Debtor's
deadline to object to Claims has been automatically extended
through and including August 23, 2007, when the Court holds a
hearing to consider the merits of the Debtor's request.

                    About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.  Exide has operations in more than 80
countries including Australia, Finland, Poland, New Zealand,
among others.

The company filed for chapter 11 protection on Apr. 14, 2002
(Bankr. Del. Case No. 02-11125).  Matthew N. Kleiman, Esq., and
Kirk A. Kennedy, Esq., at Kirkland & Ellis, represented the
Debtors in their successful restructuring.  The Court confirmed
Exide's Amended Joint Chapter 11 Plan on  April 20, 2004.  The
plan took effect on May 5, 2004.  (Exide Bankruptcy News, Issue
No. 99 Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

                          *     *     *

Standard & Poor's Ratings Services, on April 2007, placed its
'CCC' corporate credit rating on Exide Technologies and all
related debt issue ratings on CreditWatch with positive
implications.  The CreditWatch listing reflects Exide's
gradually improving financial results, strengthened liquidity,
and prospects for further modest improvements in financial
metrics due in part to a better pricing environment.


EXIDE TECH: Posts US$35.7 Million Net Loss in Qtr. Ended June 30
----------------------------------------------------------------
Exide Technologies filed a Form 10-Q with the U.S. Securities
Exchange Commission on August 7, 2007, reporting its financial
results for its fiscal 2008 first quarter, which ended June 30,
2007.

The company said that its consolidated net sales for the fiscal
2008 first quarter aggregated US$762,400,000, an increase of
US$79,200,000 or 11.6% over the comparable prior year period.
It said that a weaker dollar against the Euro, Pound Sterling
and the Australian Dollar favorably impacted net sales by
approximately US$31,700,000.  Excluding the impact of exchange
rates, strengthening unit volume in Transportation Americas and
favorable year-over-year pricing in all businesses were the
drivers of net sales growth.

The company, however, disclosed in a news release that it had a
net loss of US$35,700,000 for the fiscal 2008 period as compared
with a net loss of US$37,900,000 for the 2007 first quarter.
Exide said that included in the current year's result is a non-
recurring after tax loss on early extinguishment of debt of
US$21,300,000 relating to the company's May 2007 refinancing of
its Senior Secured Bank Credit Facility.  "This charge was more
than offset by higher gross profit, continued reductions in
selling, general and administrative expenses, a lower tax
provision, reduced interest expense and a US$6,800,000 reduction
in restructuring expenses, which were significantly higher in
the prior year due to the shutdown of the Shreveport, Louisiana
transportation battery plant."

Consolidated Adjusted EBITDA improved by about 43% to
US$39,000,000 in fiscal 2008 as compared with US$27,200,000 in
fiscal 2007.

Exide's president and chief executive officer, Gordon A. Ulsh,
stated, "We are clearly pleased with this, our fifth consecutive
quarter of strong year-over-year earnings improvement as
measured by Adjusted EBITDA.  However, we are also very
cognizant of the continuing challenges posed by the
unprecedented rise in lead costs, which have increased by 75%
since the end of March 2007, based on the LME price of US$3,389
per metric ton on August 3, 2007."

At June 30, 2007, the company's balance sheet showed total
assets of US$2,165,504,000, total liabilities of
US$1,848,454,000 and total stockholders' equity of
US$301,913,000.

                     Transportation Segments

Exide added that net sales of its combined Transportation
segments grew by 17% (13% excluding the impact of favorable
foreign exchange) in the current year first quarter to
US$463,700,000 from US$397,300,000 in the fiscal 2007 period.
While the increase is essentially price driven, the
Transportation Americas business also enjoyed an approximate 5%
increase in unit sales, which offset more modest unit sales
reductions in Europe and Rest of World.

Adjusted EBITDA for the combined Transportation businesses
aggregated US$31,300,000 in the current year period versus
US$16,500,000 in fiscal 2007.  The Americas business accounted
for US$13,200,000 of the year-over-year increase.

Mr. Ulsh commented, "E.J. O'Leary and his team continue to drive
performance in all areas of their business from pricing actions
to plant productivity to greater customer satisfaction.  These
results are now being further rewarded with increased unit
volume from our largest aftermarket accounts and through our
branch network."

                   Industrial Energy Segments

Combined net sales in the company's Industrial Energy segments
were US$298,700,000 as compared with US$285,900,000 in the
fiscal 2007 period.  Excluding the favorable impact of favorable
foreign exchange, net sales declined in these segments by
approximately US$3,800,000 in the aggregate.  In both Industrial
Energy segments the company continues to see soft network power
demand and more recently a pull back in motive power demand.
However, the company has continued to respond with global
pricing initiatives which have served to offset most volume
declines.

From an Adjusted EBITDA perspective, the combined Industrial
Energy businesses experienced a reduction from US$24,400,000 in
the fiscal 2007 period to US$16,900,000 in the current year
period.  Most of the reduction was experienced in the European
and Rest of World segment.  In addition to the volume reduction,
this business continued to face headwinds in the first quarter
in its attempt to obtain sufficient pricing to cover increased
lead costs.

                   Unallocated Corporate Costs

Unallocated corporate expenses included in Adjusted EBITDA
amounted to US$9,200,000n in the fiscal 2008 period, a reduction
of US$4,500,000 from US$13,700,000 in the first quarter of
fiscal 2007.  The prior year's costs included approximately
US$3,500,000 associated with the subsequently withdrawn
potential sale of the Industrial Energy Europe business.

A copy of the Form 10-Q filed with the SEC is available at:

             http://ResearchArchives.com/t/s?22be

                    About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.  Exide has operations in more than 80
countries including Australia, Finland, Poland, New Zealand,
among others.

The company filed for chapter 11 protection on Apr. 14, 2002
(Bankr. Del. Case No. 02-11125).  Matthew N. Kleiman, Esq., and
Kirk A. Kennedy, Esq., at Kirkland & Ellis, represented the
Debtors in their successful restructuring.  The Court confirmed
Exide's Amended Joint Chapter 11 Plan on  April 20, 2004.  The
plan took effect on May 5, 2004.  (Exide Bankruptcy News, Issue
No. 99 Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

                          *     *     *

Standard & Poor's Ratings Services, on April 2007, placed its
'CCC' corporate credit rating on Exide Technologies and all
related debt issue ratings on CreditWatch with positive
implications.  The CreditWatch listing reflects Exide's
gradually improving financial results, strengthened liquidity,
and prospects for further modest improvements in financial
metrics due in part to a better pricing environment.


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


BUDENNOVSKOE ON: Stavropol Bankruptcy Hearing Slated for Oct. 4
---------------------------------------------------------------
The Arbitration Court of Stavropol will convene at 9:30 a.m. on
Oct. 4 to hear the bankruptcy supervision procedure on OJSC
Budennovskoe on the Breeding Work.  The case is docketed under
Case No. A63-4028/07-S5.

The Temporary Insolvency Manager is:

         N. Sasin
         Office 4
         Lermontova Str. 343
         355000 Stavropol
         Russia

The Court is located at:

         The Arbitration Court of Stavropol
         Mira Str. 4586
         Stavropol
         Russia

The Debtor can be reached at:

         OJSC Budennovskoe on the Breeding Work
         Zagorodnaya Str. 1
         Budennovsk
         Stavropol
         Russia


FALENSKAYA MSO: Creditors Must File Claims by Sept. 28
------------------------------------------------------
Creditors of OJSC Falenskaya MSO have until Sept. 28 to submit
proofs of claim to:

         A. Danilov
         Insolvency Manager
         Office 6
         Sverdlova Str. 22
         Izhevsk
         426000 Udmurtiya
         Russia

The Arbitration Court of Kirov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A28-729/06-407/20.

The Court is located at:

         The Arbitration Court of Kirov
         K-Libknekhta Str. 102
         610017 Kirov
         Russia

The Debtor can be reached at:

         OJSC Falenskaya MSO
         Energetikov Str. 4
         Falenki
         Russia


IRKUTSK-GRAIN-PRODUCT: Creditors Must File Claims by Oct. 4
-----------------------------------------------------------
Creditors of OJSC Irkutsk-Grain-Product (TIN 3800000661) have
until Oct. 4 to submit proofs of claim to:

         Y. Nikonov
         Insolvency Manager
         Post User Box 1363
         664025 Irkutsk-25
         Russia

The Arbitration Court of Irkutsk commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A19-2722/07-34.

The Court is located at:

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

The Debtor can be reached at:

         OJSC Irkutsk-Grain-Product
         St. Razina Str. 42
         Irkutsk
         Russia


KALMSTROY OJSC: Creditors Must File Claims by Sept. 28
------------------------------------------------------
Creditors of OJSC Building Enterprise'2 Kalmstroy (TIN
0814091649) have until Sept. 28 to submit proofs of claim to:

         V. Ochirov
         Temporary Insolvency Manager
         Room 7
         Gubarevicha Str. 6
         Elista
         358000 Kalmykiya
         Russia
         Tel: (84722) 5-41-22

The Arbitration Court of Kalmykiya commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. A22-750/07/ 07-2.

The Debtor can be reached at:

         V. Ochirov
         Temporary Insolvency Manager
         Room 7
         Gubarevicha Str. 6
         Elista
         358000 Kalmykiya
         Russia
         Tel: (84722) 5-41-22


KHIM-PROM-INVEST: Creditors Must File Claims by Sept. 28
--------------------------------------------------------
Creditors of CJSC Khim-Prom-Invest have until Sept. 28 to submit
proofs of claim to:

         E. Pozhidaev
         Insolvency Manager
         Office 18
         Kuleva Str. 33
         634034 Tomsk
         Russia

The Arbitration Court of Tomsk commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A67-8623/06.

The Debtor can be reached at:

         CJSC Khim-Prom-Invest
         Transportnaya Str. 14-3
         Seversk
         Tomsk
         Russia


L-AGRO CJSC: Creditors Must File Claims by Sept. 28
---------------------------------------------------
Creditors of CJSC L-Agro have until Sept. 28 to submit proofs of
claim to:

         L. Bogomolova
         Insolvency Manager
         Post User Box 1252
         398059 Lipetsk
         Russia
         Tel/Fax: 8(4742) 43-58-71

The Arbitration Court of Lipetsk commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A36-225-B/1-02.

The Court is located at:

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

The Debtor can be reached at:

         L. Bogomolova
         Insolvency Manager
         Post User Box 1252
         398059 Lipetsk
         Russia
         Tel/Fax: 8(4742) 43-58-71


NIVY OF ALTAY: Court Names A. Ivanov as Insolvency Manager
----------------------------------------------------------
The Arbitration Court of Altay appointed A. Ivanov as Insolvency
Manager for CJSC Nivy of Altay.  He can be reached at:

         A. Ivanov
         Post User Box 19391
         Krasnoyarsk 77
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case
No. A03-5377/07-B.

The Debtor can be reached at:

         CJSC Nivy of Altay
         Ust'-Kamenka
         Ust'-Kalmanskiy
         Altay
         Russia


OIL-TRADING LLC: Creditors Must File Claims by Aug. 28
------------------------------------------------------
Creditors of LLC Oil-Trading have until Aug. 28 to submit proofs
of claim to:

         S. Shakrovskaya
         Temporary Insolvency Manager
         Room 10
         Melnikayte Str. 90a
         625026 Tyumen
         Russia

The Arbitration Court of Tyumen will convene at 9:00 a.m. on
Sept. 27 to hear the company's bankruptcy supervision procedure.
The case is docketed under Case No. A-70-2461/3-07.

The Court is located at:

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

The Debtor can be reached at:

         LLC Oil-Trading
         8th location, 39 A
         Tobolsk
         Russia


PREMIER-LEASING NN: Bankruptcy Hearing Slated for Dec. 4
--------------------------------------------------------
The Arbitration Court of Nizhniy Novgorod will convene at
10:00 a.m. on Dec. 4 to hear the bankruptcy supervision
procedure on CJSC Premier-Leasing NN.  The case is docketed
under Case No. A43-8368/2007-36-28.

The Temporary Insolvency Manager is:

         Y. Shishkov
         Nartova Str. 6
         Nizhniy Novgorod
         Russia

The Court is located at:

         The Arbitration Court of Nizhniy Novgorod
         Kremlin 9
         603082 Nizhniy Novgorod
         Russia

The Debtor can be reached at:

         CJSC Premier-Leasing NN
         Nartova Str. 6
         Nizhniy Novgorod
         Russia


PROM-STROY-INCOM: Asset Sale Slated for December 5
--------------------------------------------------
IP Kiseleva N.I., the bidding organizer for CJSC Prom-Stroy-
Incom, will set a public auction for the company's properties at
1:00 p.m. on Dec. 5 at:

         IP Kiseleva N.I.
         Office 2312
         Building 1
         Kholodilnyj Per. 3
         Moscow
         Russia

The company has set a RUR60,244,510 starting price (with VAT)
for the auctioned assets.

Interested participants have until Aug. 23 to deposit an amount
of RUR1,204,980 KOP 21 to:

         IP Kiseleva N.I.
         Settlement Account 40802810936000007310 in VTB 24
         (CJSC) Moscow
         Correspondent Account 30101810100000000716
         GTU Bank of Russia
         OPRU of Moskovskiy
         BIK 044525716
         TIN 771000317797

Bidding documents must be submitted to:

         IP Kiseleva N.I.
         Office 2312
         Building 1
         Kholodilnyj Per. 3
         Moscow
         Russia

The Debtor can be reached at:

         IP Kiseleva N.I.
         Office 2312
         Building 1
         Kholodilnyj Per. 3
         Moscow
         Russia


ROMANOVSKIY OJSC: Creditors Must File Claims by Sept. 28
--------------------------------------------------------
Creditors of OJSC Diary Romanovskiy have until Sept. 28 to
submit proofs of claim to:

         N. Bolotnikov
         Insolvency Manager
         Zapadnaya Str. 1
         Romanovka
         412270 Saratov
         Russia

The Arbitration Court of Saratov commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A-57-14690/06-40.

The Court is located at:

         The Arbitration Court of Saratov
         Babushkin Vvoz 1
         Saratov
         Russia

The Debtor can be reached at:

         OJSC Diary Romanovskiy
         Sovetskaya Str. 147
         Romanovka
         Saratov
         Russia


STAVROPOLSKAYA INSTRUMENTAL: Claims Filing Period Ends Sept. 28
---------------------------------------------------------------
Creditors of LLC Stavropolskaya Instrumental Company have until
Sept. 28 to submit proofs of claim to:

         G. Makeev
         Insolvency Manager
         Post User Box 7
         Aleksandrovskoe OPS
         Blinova Str. 98
         Aleksandrovskoe
         356300 Stavropol
         Russia

The Arbitration Court of Stavropol commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A63-9787/2006-S5.

The Court is located at:

         The Arbitration Court of Stavropol
         Mira Str. 4586
         Stavropol
         Russia

The Debtor can be reached at:

         LLC Stavropolskaya Instrumental Company
         Stavropol
         Russia


TNK-BP INT'L: S&P Holds Credit Rating at BB+ with Stable Outlook
----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB+/B' long-
and short-term corporate credit ratings on TNK-BP International
Ltd. following a review of TNK-BP's business plan and the recent
resolution of the Kovykta gas field project.  The outlook is
stable.

"The rating affirmation balances some positive developments on
the business risk profile versus negatives on the financial
side," said Standard & Poor's credit analyst Karl Nietvelt.

TNK-BP's business profile is now commensurate with an
investment-grade rating.  However, we expect the group's current
strong credit profile to weaken, as TNK-BP's recent shift toward
higher leverage could allow for significantly more debt.

The ratings on TNK-BP reflect its position as one of the largest
vertically integrated Russian oil companies. Its relatively
strong profitability (although this is being impacted by rampant
cost inflation) and high share of dollar-denominated crude and
product export revenues are key strengths, together with a
current strong financial profile.  Offsetting these factors are
the company's less conservative financial leverage policy
targets and continued high political risk of oil operations in
The Russian Federation (foreign currency, BBB+/Stable/A-2; local
currency, A-/Stable/A-2), including resource nationalism,
license revocation, and environmental risks.

"The stable outlook reflects our expectation of continued strong
cash flow generation of above US$5 billion, underpinned by
favorable oil prices, but offset by near-term stagnant
production and high cost inflation," said Mr. Nietvelt.

Free cash flow generation will however decrease strongly from
historic highs, as the group embarks on major brown and green
field developments.  Credit metrics are currently strong, with
2006 adjusted funds from operations to debt of about 90%.  Under
a US$40/barrel Brent credit assumption we estimate normalized
cash flow to be close to US$3.5 billion.

A one-notch upgrade is possible, but now essentially hinges on
TNK-BP's appetite for additional debt, as current ratings assume
that leverage will increase further to about 45% (34% at end-
2006) in line with management's revised policies.  Downward
rating pressure -- currently not expected -- would stem from a
material increase in these country-related risks.


TRANSPORT-TECHNICAL SERVICES: Claims Filing Period Ends Aug. 28
---------------------------------------------------------------
Creditors of LLC Transport-Technical Services have until Aug. 28
to submit proofs of claim to:

         I. Kuchumov
         Temporary Insolvency Manager
         Post User Box 670
         Kazan
         420032 Tatarstan
         Russia

The Arbitration Court of Tatarstan will convene at 10:30 a.m. on
Oct. 25 to hear the company's bankruptcy supervision procedure.
The case is docketed under Case No. A65-9710/2007-SG4-39.

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 Transport-Technical Services
         Almetyevsk
         Tatarstan
         Russia


USTANSKIY WOOD-PROM-KHOZ: Bankruptcy Hearing Slated for Nov. 20
---------------------------------------------------------------
The Arbitration Court of Nizhniy Novgorod will convene on
Nov. 20 to hear the bankruptcy supervision procedure on
LLC Ustanskiy Wood-Prom-Khoz.  The case is docketed under
Case No. A43-8797/2007-36-32.

The Temporary Insolvency Manager is:

         I. Morozov
         Temporary Insolvency Manager
         Apartment 12
         40 Let Pobedy Str. 10
         603137 Nizhniy Novgorod
         Russia

The Court is located at:

         The Arbitration Court of Nizhniy Novgorod
         Kremlin 9
         603082 Nizhniy Novgorod
         Russia

The Debtor can be reached at:

         LLC Ustanskiy Wood-Prom-Khoz
         Kommunisticheskaya Str. 1
         Usta
         Urenskiy
         Nizhniy Novgorod
         Russia


ZHIL-KOM-STROY: Creditors Must File Claims by Sept. 28
------------------------------------------------------
Creditors of CJSC Zhil-Kom-Stroy have until Sept. 28 to submit
proofs of claim to:

         T. Yamancheva
         Insolvency Manager
         Engelsa Str. 19
         432063 Ulyanovsk
         Russia

The Arbitration Court of Ulyanovsk commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A72-9262/06-20/148B.

The Debtor can be reached at:

         CJSC Zhil-Kom-Story
         Bryukhanova Per. 20
         Ulyanovsk
         Russia


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


TDA CAM 4: Fitch Junks EUR29.3 Million Class D Notes
----------------------------------------------------
Fitch Ratings affirmed the ratings of FTPYME TDA CAM 4, Fondo de
Titulizacion de Activos' notes:

   -- EUR162.7 million Class A1 Notes (ISIN ES0339759005): 'AAA'
   -- EUR931.5 million Class A2 Notes (ISIN ES0339759013): 'AAA'
   -- EUR127 million Class A3 Notes (ISIN ES0339759021): 'AAA'
   -- EUR66 million Class B Notes (ISIN ES0339759039): 'A'
   -- EUR38 million Class C Notes (ISIN ES0339759047): 'BBB-'
   -- EUR29.3 million Class D Notes (ISIN ES0339759054): 'CC'

The rating affirmation reflects the stable performance of the
transaction since close in December 2006.  There have been no
losses or defaults to date and delinquencies have remained low.
As of 31 July 2007 trustee report delinquencies of more than 90
days represented 0.09% and delinquencies of more than 180 days
stood at 0.01% of the outstanding portfolio notional.
Furthermore, since closing in December 2006 the class A1 notes
have amortized to approximately 48% of their initial balance in
line with the amortizations of the underlying collateral.  This
has benefited all notes by increasing the available credit
enhancement.

This transaction is a cash flow securitization of a EUR1.5
billion static pool of loans granted by Caja de Ahorros Del
Mediterraneo (rated 'A+/F1/Outlook Stable') to small and medium-
sized enterprises in Spain.  The Kingdom of Spain (rated
'AAA/F1+/Outlook Stable', 'the guarantor') guarantees the
ultimate payment of interest and principal on the class A3 (CA)
notes.

FTPYME TDA CAM 4 is a special purpose vehicle incorporated under
the laws of Spain with limited liability.  Its sole purpose was
to acquire a portfolio of loans from CAM as collateral for the
issuance of fixed-income securities.  The assets of the fund
were acquired by Titulizacion de Activos, S.G.F.T., S.A. ("the
Sociedad Gestora") on behalf of FTPYME TDA CAM 4.  The Sociedad
Gestora is a special purpose company with limited liability
incorporated under the laws of Spain.


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


DB BAU: Creditors' Liquidation Claims Due September 15
------------------------------------------------------
Creditors of LLC DB Bau have until Sept. 15 to submit their
claims to:

         Susanna Gallmann
         Liquidator
         Industriestrasse 3
         6345 Neuheim ZG
         Switzerland

The Debtor can be reached at:

         LLC DB Bau
         Zurich
         Switzerland


EILA INTERNATIONAL: Liquidation Claims Due September 28
-------------------------------------------------------
Creditors of LLC EILA International Management have until
Sept. 28 to submit their claims to:

         Alexandra Feller
         Liquidator
         Neugasse 1
         6300 Zug
         Switzerland

The Debtor can be reached at:

         LLC EILA International Management
         Zug
         Switzerland


FLEXUM MESSTECHNIK: Creditors' Liquidation Claims Due August 30
---------------------------------------------------------------
Creditors of JSC FLEXUM Messtechnik have until Aug. 30 to submit
their claims to:

         Alfred Zahn
         Liquidator
         Hittenberg 209
         8636 Wald
         Hinwil ZH
         Switzerland

The Debtor can be reached at:

         JSC FLEXUM Messtechnik
         Wald
         Hinwil ZH
         Switzerland


GRAND RETAIL: Creditors' Liquidation Claims Due October 8
---------------------------------------------------------
Creditors of LLC Grand Retail And New Designs have until Oct. 8
to submit their claims to:

         Birmensdorferstr. 13
         8004 Zurich
         Switzerland

The Debtor can be reached at:

         LLC Grand Retail And New Designs
         Zurich
         Switzerland


HIMALAYA PARTNERS: Liquidation Claims Due September 15
------------------------------------------------------
Creditors of JSC Himalaya Partners have until Sept. 15 to submit
their claims to:

         Daniel Gysi
         Liquidator
         Turmgasse 1
         9004 St. Gallen
         Switzerland

The Debtor can be reached at:

         JSC Himalaya Partners
         Zurich
         Switzerland


KOCH+URSCHLER MESSEBAU: Liquidation Claims Due October 10
---------------------------------------------------------
Creditors of LLC Koch+Urschler Messebau have until Oct. 10 to
submit their claims to:

         Guido Koch
         Liquidator
         Bifangstrasse 47
         Mail box: 122
         4663 Aarburg
         Zofingen AG
         Switzerland

The Debtor can be reached at:

         LLC Koch+Urschler Messebau
         Aarburg
         Zofingen AG
         Switzerland


NATURA MEDICA: Claims Registration Period Ends September 3
----------------------------------------------------------
The Bankruptcy Court of Zurich commenced bankruptcy proceedings
against LLC Natura Medica on June 21.

Creditors have until Sept. 3 to file their written proofs of
claim.

The Bankruptcy Service of Zurich can be reached at:

         Bankruptcy Service of Zurich
         8042 Zurich
         Switzerland

The Debtor can be reached at:

         LLC Natura Medica
         Kornhausstr. 49
         8037 Zurich
         Switzerland


REMIDO JSC: Creditors' Liquidation Claims Due August 30
-------------------------------------------------------
Creditors of JSC REMIDO have until Aug. 30 to submit their
claims to:

         Hans Rudolf Brand
         Liquidator
         Mail box: 578
         3000 Bern 14
         Switzerland

The Debtor can be reached at:

         JSC REMIDO
         Baar ZG
         Switzerland


SIXTMETALLICA & PARTNER: Liquidation Claims Due September 3
-----------------------------------------------------------
Creditors of LLC sixtmetallica & Partner have until Sept. 3 to
submit their claims to:

         Balierestrasse 15
         8500 Frauenfeld TG
         Switzerland

The Debtor can be reached at:

         LLC sixtmetallica & Partner
         Frauenfeld TG
         Switzerland


STAWAG BIOTECH: Creditors' Liquidation Claims Due August 30
-----------------------------------------------------------
Creditors of JSC Stawag Biotech have until Aug. 30 to submit
their claims to:

         Max Welti
         Liquidator
         Forchstr. 61
         8704 Herrliberg
         Meilen ZH
         Switzerland

The Debtor can be reached at:

         JSC Stawag Biotech
         Schlieren
         Dietikon ZH
         Switzerland


THOMAS SCHAR: Creditors' Liquidation Claims Due October 31
----------------------------------------------------------
Creditors of LLC Thomas Schar have until Oct. 31 to submit their
claims to:

         Christian Stalder
         Liquidator
         Max-Buri-Strasse 31
         3400 Burgdorf BE
         Switzerland

The Debtor can be reached at:

         LLC Thomas Schar
         Burgdorf BE
         Switzerland


UNIVERSAL COMPRESSION: Changes Company Name to Exterran Partners
----------------------------------------------------------------
Universal Compression Partners L.P. has changed its name to
Exterran Partners, L.P. concurrent with the closing of the
merger of Hanover Compressor Company and Universal Compression
Holdings, Inc. into Exterran Holdings, Inc.  Effective Aug. 21,
2007, Exterran Partners common units will trade on the NASDAQ
Global Select Market under the symbol "EXLP."

Headquartered in Houston, Texas, Universal Compression Holdings,
Inc. -- http://www.universalcompression.com/-- provides natural
gas compression equipment and services, primarily to the energy
industry in the United States, Argentina, Australia, Bolivia,
Brazil, Canada, China, Colombia, Ecuador, Indonesia, Mexico,
Nigeria, Peru, Russia, Switzerland, Thailand, Tunisia and
Venezuela.  Its primary fabrication facilities are located in
Houston, Texas, and Calgary, Alberta.

                       *     *     *

As reported in the Troubled Company Reporter on Nov. 23, 2006,
Standard & Poor's Ratings Services raises its corporate credit
rating on Universal Compression Holdings Inc. to 'BB' from
'BB-'.  At the same time, assigns its 'BB' rating and '3'
recovery rating to Universal Compression's US$500 million
revolving credit facility.  The Houston, Texas-based oilfield
services company had approximately US$807 million in debt
outstanding following the IPO of its subsidiary Universal
Compression Partners L.P.


UNIVERSAL COMPRESSION: Closes Hanover Merger of Equals
------------------------------------------------------
Universal Compression Holdings Inc. and Hanover Compressor
Company completed their merger of equals, originally announced
in February 2007.  Effective Aug. 21, 2007, the common stock of
the new combined company, Exterran, will trade under the symbol
"EXH" on the New York Stock Exchange, and the common stock of
Hanover and Universal will no longer be traded.  Each common
share of Hanover will be converted to 0.325 shares of Exterran,
and each common share of Universal will be converted to one
common share of Exterran.

"This combination of two great companies creates a leader in
compression and surface production solutions for the worldwide
oil and gas industry," said Exterran's President and Chief
Executive Officer, Stephen A. Snider.  "The merger positions
Exterran with a broad range of products and services, a wide
geographic presence and the financial strength necessary
to meet the full compression services and production and
processing equipment requirements of our customers around the
globe.  Our terrific team of employees has worked hard to reach
this important milestone, and we look forward to seizing the
growth opportunities that our enhanced size and scope provide."

                   About Hanover Compressor

Headquartered in Houston, Texas, Hanover Compressor Company
(NYSE:HC) -- http://www.hanover-co.com/-- is in full service
natural gas compression and provider of service, fabrication and
equipment for oil and natural gas production, processing and
transportation applications.  Hanover sells and rents this
equipment and provides complete operation and maintenance
services, including run-time guarantees for both customer-owned
equipment and its fleet of rental equipment.  Founded in 1990
and a public company since 1997, Hanover's customers include
both major and independent oil and gas producers and
distributors as well as national oil and gas companies.  It has
locations in Argentina, Bolivia, Brazil, Colombia, Mexico, Peru,
Venezuela, India, China, Indonesia, Japan, Korea, Taiwan, the
United Kingdom, and Vietnam, among others.

                  About Universal Compression

Headquartered in Houston, Texas, Universal Compression Holdings,
Inc. nka Exterran Holdings Inc. -- http://www.exterran.com/--
provides natural gas compression equipment and services,
primarily to the energy industry in the United States,
Argentina, Australia, Bolivia, Brazil, Canada, China, Colombia,
Ecuador, Indonesia, Mexico, Nigeria, Peru, Russia, Switzerland,
Thailand, Tunisia and Venezuela.  Its primary fabrication
facilities are located in Houston, Texas, and Calgary, Alberta.

                       *    *    *

As reported in the Troubled Company Reporter on Nov. 23, 2006,
Standard & Poor's Ratings Services raises its corporate credit
rating on Universal Compression Holdings Inc. to 'BB' from
'BB-'.  At the same time, assigns its 'BB' rating and '3'
recovery rating to Universal Compression's US$500 million
revolving credit facility.  The Houston, Texas-based oilfield
services company had approximately US$807 million in debt
outstanding following the IPO of its subsidiary Universal
Compression Partners L.P.


WELLCAP JSC: Claims Registration Period Ends August 31
------------------------------------------------------
The Bankruptcy Court of Zug commenced bankruptcy proceedings
against JSC Wellcap on June 6.

Creditors have until August 31 to file their written proofs of
claim.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of  Zug
         6301 Zug
         Switzerland

The Debtor can be reached at:

         JSC Wellcap
         Oberneuhofstrasse 5
         6340 Baar
         Switzerland


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


AZOVSTAL IRON: Moody's Rates Senior Unsecured Loan Notes at B3
--------------------------------------------------------------
Moody's Investors Service, Inc confirmed the B3 rating for the
senior unsecured loan participation notes due 2011 issued by
Azovstal Capital B.V., a Dutch special purpose vehicle.

The notes are issued for the sole purpose of financing Azovstal
Capital B.V.'s 100% sub-participation in a loan extended by
Moscow Narodny Bank Limited to Azovstal Iron and Steel Works.
The corporate family rating of Azovstal was left unchanged at
B2.

At the same time, the outlook on all ratings was changed to
developing, based on the fact that shareholders intend to
consolidate steel and mining assets including Azovstal into a
holding company in the next 6 to 12 months.  The final group
structure and Azovstal's position is not clear and will need to
be re-assessed once the new structure has been put in place.

The developing outlook reflects the expectation that the
creation of such a group should improve Azovstal's vertical
integration and strengthen its business profile, which could put
upward pressure on the current corporate family ration of
Azovstal.  However, the uncertainty with respect to the
financial profile of the group weighs negatively on the current
ratings.

The B2 rating reflects:

   (i) the company's stable operational and financial results in
       2006 and first six months of 2007 underpinned by
       continued benign market conditions for Ukrainian steel
       producers;

  (ii) expectation that on-going capex investments aimed at
       efficiency gains will enable the company to better
       control costs and at the same time to develop higher
       value-added products which would help to reduce earnings
       volatility going forward.

The B3 rating for the senior unsecured loan participation notes
was confirmed reflecting the fact that the company substantially
reduced the amount of secured debt from 47% of gross debt in
February 2007 to a level below 20% as of June 2007 adjusted for
the amount of currently unutilized secured credit lines and
trade claimed to third parties are treated as secured
indebtedness.

Outlook Actions:

   * Issuer: Azovstal Capital B.V.

     -- Outlook, Changed To Developing From Rating Under Review.

   * Issuer: Azovstal Iron & Steel Works

     -- Outlook, Changed To Developing From Stable.

Confirmations:

   * Issuer: Azovstal Capital B.V.

     -- Senior Unsecured Regular Bond/Debenture, Confirmed at
        B3.

Azovstal, located in Mariupol on the shore of Azov Sea, is
Ukraine's third-largest steel producer with an annual production
capacity of 6.5 million mt.  The company reported sales of UAH
12,457 billion (approximately US$2.47 billion) and EBITDA of UAH
1,939 billion (about US$384 million) in 2006.  Azovstal is
majority-owned by Ukrainian metals and mining conglomerate
System Capital Management.


COUNTRY PROPRIETOR: Creditors Must File Claims by August 25
-----------------------------------------------------------
Creditors of LLC Resource-Information Center Country Proprietor
(code EDRPOU 30420683) have until Aug. 25 to submit written
proofs of claim to:

         The Economic Court of Lvov
         Lichakivska Str. 81
         79010 Lvov
         Ukraine

The Economic Court of Lvov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 6/52-8/71.

The Debtor can be reached at:

         LLC Resource-Information Center Country Proprietor
         Slobodka
         Striy District
         82400 Lvov
         Ukraine


DOBROVELICHKOVKA MOTORCAR 13540: Creditors' Claims Due August 25
----------------------------------------------------------------
Creditors of OJSC Dobrovelichkovka Motorcar Enterprise 13540
(code EDRPOU 03117346) have until Aug. 25 to submit written
proofs of claim to:

         The Economic Court of Kirovograd
         Lunacharski Str. 29
         25006 Kirovograd
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 9/283.

The Debtor can be reached at:

         OJSC Dobrovelichkovka Motorcar Enterprise 13540
        Shevchenko Str. 2
         Dobrovelichkovka
         27000 Kirovograd
         Ukraine


EKOGARNET LLC: Creditors Must File Claims by August 25
------------------------------------------------------
Creditors of LLC Ekogarnet (code EDRPOU 30087206) have until
Aug. 25 to submit written proofs of claim to:

         The Economic Court of Vinnica
         Hmelnickiy Str. 7
         21036 Vinnica
         Ukraine

The Economic Court of Vinnica commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 5/164-07.

The Debtor can be reached at:

         LLC Ekogarnet
         Nekrasov Str. 12
         Lipovets
         22500 Vinnica
         Ukraine


METALLURGICAL MACHINEBUILDING: Creditors' Claims Due August 25
--------------------------------------------------------------
Creditors of State Enterprise Ukrainian Science-Research
Institute of Metallurgical Machinebuilding (code EDRPOU
04601736) have until Aug. 25 to submit written proofs of claim
to:

         Viktor Frankfurt
         Temporary Insolvency Manager
         Apartment 64
         Naberezhnaya Str. 133
         83100 Donetsk
         Ukraine

The Economic Court of Donetsk commenced bankruptcy supervision
procedure on the company.  The case is docketed under Case
No. 42/139B.

The Court is located at:

         The Economic Court of Donetsk
         Artema Str. 157
         83048 Donetsk
         Ukraine

The Debtor can be reached at:

         State Enterprise Ukrainian Science-Research Institute
         of Metallurgical Machinebuilding
         Karpinsky Str. 2a
         Slaviansk
         84102 Donetsk
         Ukraine


NATA-YUG LLC: Creditors Must File Claims by August 25
-----------------------------------------------------
Creditors of LLC Nata-Yug (code EDRPOU 34318849) have until
Aug. 25 to submit written proofs of claim to:

         The Economic Court of Nikolaev
         Admiralskaya Str. 22
         54009 Nikolaev
         Ukraine

The Economic Court of Nikolaev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 2/550/07.

The Debtor can be reached at:

         LLC Nata-Yug
         Apartment 71
         Lenin Avenue 183
         Nikolaev
         Ukraine


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


ADVANCED MICRO: Completes US$1.5 Bln Offering of 5.75% Sr. Notes
----------------------------------------------------------------
Advanced Micro Devices Inc. has closed its offering of
US$1.5 billion aggregate principal amount of 5.75% Convertible
Senior Notes due 2012.  The notes were privately offered to
qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended.

AMD received net proceeds from the offering of approximately
US$1.48 billion after deducting discounts, commissions and
estimated offering expenses.

AMD used the net proceeds, 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.

Based in Sunnyvale, California, Advanced Micro Devices Inc.
(NYSE: AMD) -- http://www.amd.com/-- 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.

                          *     *     *

As reported in the Troubled Company Reporter on Aug. 14, 2007,
Standard & Poor's Ratings Services affirmed its B/Negative/--
corporate credit rating on Sunnyvale, California-based Advanced
Micro Devices Inc.  At the same time, S&P assigned its 'B'
rating to the company's US$1.5 billion 5.75% senior convertible
notes due 2012, and raised the rating on the company's existing
senior unsecured debt to 'B' from 'B-', because the company no
longer has secured debt in its capital structure.


BALLY TOTAL: Ends Interim Executive Services Pacts with Tatum
-------------------------------------------------------------
Bally Total Fitness Holding Corp. told Reuters that it has ended
its interim executive services accords with Tatum LLC.

Bally Total said in a regulatory filing that services of its
interim Chief Financial Officer Ronald Eidell and interim
Corporate Controller Michael Goldberg were terminated, effective
Aug. 15.

Bally Total told Reuters that it failed to negotiate the
retention of Tatum, Eidell and Goldberg "on terms satisfactory
to the U.S. trustee appointed by a bankruptcy court."

Based in Chicago, Illinois, Bally Total Fitness Holding Corp.
(Pink Sheets: BFTH.PK) -- http://www.ballyfitness.com/--
operates fitness centers in the U.S., with over 375 facilities
located in 26 states, Mexico, Canada, Korea, United Kingdom,
China and the Caribbean under the Bally Total Fitness(R), Bally
Sports Clubs(R) and Sports Clubs of Canada (R) brands.

Bally Total and its affiliates filed for chapter 11 protection
on July 31, 2007 (Bankr. S.D.N.Y. Case No. 07-12396) after
obtaining requisite number of votes in favor of their pre-
packaged chapter 11 plan.  Joseph Furst, III, Esq. at Latham &
Watkins, L.L.P. represents the Debtors in their restructuring
efforts.  As of June 30, 2007, the Debtors had US$408,546,205 in
total assets and US$1,825,941,54627 in total liabilities.

No schedule has been set to date for an organizational meeting
that would create an Official Committee of Unsecured Creditors.
The Court recently held that the meeting of creditors pursuant
to Section 341(a) of the Bankruptcy Code will not be convened,
and is canceled, if the Debtors' Plan of Reorganization is
confirmed on or prior to Oct. 16, 2007.


BALLY TOTAL: Court Okays Modification of Reorganization Plan
------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
granted Bally Total Fitness Holding Corp.'s motion to amend its
Joint Prepackaged Chapter 11 Plan of Reorganization to implement
a superior alternative restructuring proposal from Harbinger
Capital Partners Master Fund I, Ltd. and Harbinger Capital
Partners Special Situations Fund L.P. without the need to
resolicit approval from its creditors.

The Court also approved the Investment Agreement providing for
Harbinger's commitment to make a US$233.6 million equity
investment in the company, and Restructuring Support Agreements
among the parties, including holders of approximately 80% of the
company's Senior Subordinated Notes and more than 55% of the
company's Senior Notes, reflecting their commitment to implement
the Harbinger-funded restructuring through the amended plan on
the same timetable as the company's original plan.

Under the amended plan, the company can consummate the
restructuring set forth in the Existing Plan under certain
circumstances.

In addition, the Court approved the company's debtor-in-
possession Financing and Exit Credit Facilities.  The company
expects to close its DIP tomorrow, refinancing the existing
senior secured facility.

Morgan Stanley Senior Funding, Inc. is sole lead arranger and
sole bookrunner for the US$292 million of super-priority secured
DIP and the senior secured exit credit facilities.  The exit
facilities provide financing under the amended plan for either
the Harbinger funded proposal or the noteholder proposal.

The DIP and the exit facilities provide for a US$50 million
revolving credit facility and a US$242 million term loan.

"Obtaining the Court's authorization to amend our plan, without
requiring resolicitation of plan acceptances, is a significant
accomplishment and marks the beginning of a new era for Bally
Total Fitness," Don R. Kornstein, interim chairman and chief
restructuring officer of Bally Total Fitness, said.  "We look
forward to executing on this plan in partnership with Harbinger,
and emerging promptly from chapter 11 protection as a stronger
company, with the financial resources to continue investing in
our clubs and facilities."

The confirmation hearing on the amended plan is scheduled for
Sept. 17, 2007.  If confirmed the company expects to implement
the amended plan and emerge from chapter 11 by the end of
September 2007.

In re Bally Total Fitness of Greater New York, et al. Case No.
07-12395, is pending before the Honorable Burton R. Lifland in
the United States Bankruptcy Court for the Southern District of
New York.

More detailed information on the treatment of claims under the
amended plan is available on Bally Chapter 11 Information
Hotline:  Toll Free: (888) 251-3046.

                     About Bally Total Fitness

Based in Chicago, Illinois, Bally Total Fitness Holding Corp.
(Pink Sheets: BFTH.PK) -- http://www.ballyfitness.com/--
operates fitness centers in the U.S., with over 375 facilities
located in 26 states, Mexico, Canada, Korea, United Kingdom,
China and the Caribbean under the Bally Total Fitness(R), Bally
Sports Clubs(R) and Sports Clubs of Canada (R) brands.

Bally Total and its affiliates filed for chapter 11 protection
on July 31, 2007 (Bankr. S.D.N.Y. Case No. 07-12396) after
obtaining requisite number of votes in favor of their pre-
packaged chapter 11 plan.  Joseph Furst, III, Esq. at Latham &
Watkins, L.L.P. represents the Debtors in their restructuring
efforts.  As of June 30, 2007, the Debtors had US$408,546,205 in
total assets and US$1,825,941,54627 in total liabilities.

No schedule has been set to date for an organizational meeting
that would create an Official Committee of Unsecured Creditors.
The Court recently held that the meeting of creditors pursuant
to Section 341(a) of the Bankruptcy Code will not be convened,
and is canceled, if the Debtors' Plan of Reorganization is
confirmed on or prior to October 16, 2007.


FOCUS DIY (INVESTMENTS): S&P Withdraws Junk Debt Rating
-------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'SD' long-term
corporate credit ratings on Focus DIY (Finance) PLC and Focus
DIY (Investments) Ltd., the parent companies of U.K.-based home-
improvement retailer Focus.

Standard & Poor's also withdrew its 'CCC' debt rating on the
GBP285 million senior secured bank loan at Focus DIY
(Investments) and removed the rating from CreditWatch with
negative implications, where it had been placed on June 7, 2007.
The 'D' debt rating on the GBP100 million second-lien mezzanine
senior subordinated notes at Focus DIY (Finance) was also
withdrawn.

The ratings have been withdrawn at the company's request,
following the completion of the purchase of Focus by an
affiliate of Cerberus European Investments LLC.


FORD MOTOR: Bear Stearns Wants to Buy Indian Financing Unit
-----------------------------------------------------------
Bear, Stearns & Co. Inc. is in negotiations to purchase a Ford
Motor Company financing unit in India, although the bank has not
confirmed the Economic Times report that it has offered INR900
million (US$22.09 million) in exchange for Ford Automotive
Finance Co., Reuters relates.

"We are in advanced discussions with Ford but it is too early to
confirm the outcome," a London-based spokeswoman for Bear
Stearns said, Reuters notes.  "We are looking at ways of
building our presence in India as an important factor in our
international growth plans.  We are keen to identify the best
way to build on our existing services to clients in India," she
added.

A secondary market for the sale of financial products in India
has opened up because its government is not issuing new licenses
in the country.  Bear Stearns is already registered as a foreign
institutional investor in India and offers some services, such
as buying Indian equity for overseas clients, but it cannot sell
other products into the market, Reuters observes.

The Economic Time report also states that Bear Stearns plans to
invest INR1 billion (US$24.54 million) to comply with Indian
regulations and launch a full-fledged financial services
company.

India has about 1,050 registered foreign institutional
investors, with 32 asset management firms managing over INR4
trillion (US$99 billion), according to data from the market
regulator Securities & Exchange Board of India, Reuters notes.
Citigroup, UBS, Morgan Stanley and Goldman Sachs are among the
foreign institutional investors currently operating in India.

                      About Ford Motor Co.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles
in 200 markets across six continents.  With about 260,000
employees and about 100 plants worldwide, the company's core and
affiliated automotive brands include Ford, Jaguar, Land Rover,
Lincoln, Mercury, Volvo, Aston Martin, and Mazda.  The company
provides financial services through Ford Motor Credit Company.

The company has operations in Japan in the Asia Pacific region.
In Europe, the Company maintains a presence in Sweden, and the
United Kingdom.  The Company also distributes its brands in
various Latin American regions, including Argentina and Brazil.

                        *     *     *

As reported in the TCR-Europe on July 31, 2007, Moody's
Investors Service said that the performance of Ford Motor
Company's global automotive operations for the second quarter of
2007 was significantly stronger than the previous year and
better than street expectations.

However, Moody's explained that the company continues to face
significant competitive and financial challenges, and the rating
agency expects that Ford's credit metrics and rate of cash
consumption will likely remain consistent with no higher than a
B3 corporate family rating level into 2008.

According to the rating agency, Ford's corporate family rating
is currently a B3 with a negative outlook.  The rating is
pressured by the shift in consumer preference from high margin
trucks and SUVs, and by the need for a new 2007 UAW contract
that provides meaningful relief from high health care costs and
burdensome work rules, Moody's relates.


HANOVER COMPRESSOR: Completes US$550MM Tender Offer of Sr. Notes
----------------------------------------------------------------
Hanover Compressor Company has completed its tender offers and
consent solicitations for US$550 million of its outstanding
senior notes.

As of 5:00 p.m., New York City time, on Aug. 17, 2007, Hanover
had received tenders of these Notes:

   a) Title of Security: 8.625% Senior Notes due 2010
      CUSIP No: 410768AF2
      Principal Amount Outstanding: US$200,000,000
      Principal Amount Tendered: US$199,915,000
      % Tendered: 99.96%

   b) Title of Security: 9% Senior Notes due 2014
      CUSIP No: 410768AG0
      Principal Amount Outstanding: US$200,000,000
      Principal Amount Tendered: US$200,000,000
      % Tendered: 100%

   c) Title of Security: 7.5% Senior Notes due 2013
      CUSIP No: 410768AH8
      Principal Amount Outstanding: US$150,000,000
      Principal Amount Tendered: US$150,000,000
      % Tendered: 100%

On Aug. 20, 2007, Hanover accepted for purchase all of the
tendered Notes.  As a result, the supplemental indentures
effecting certain proposed amendments to the indentures
governing the Notes have become operative.  The amendments to
the indentures eliminate substantially all of the restrictive
covenants and eliminate or modify certain events of default in
the indentures governing the Notes, as described in the Offer to
Purchase and Consent Solicitation Statement dated as of July 19,
2007.

As a result of Hanover's acceptance for purchase of all of its
outstanding 9% Senior Notes due 2014 and 7.5% Senior Notes due
2013, the indentures relating to those series of Notes are
expected to be satisfied and discharged.

Wachovia Securities acted as exclusive dealer manager in
connection with the tender offers and consent solicitations.

                    About Hanover Compressor

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

                          *     *     *

Moody's Investor Services assigned B1 rating on Hanover
Compressor Company's long term corporate family and probability
of default on July 16, 2007.  The outlook is stable.


HANOVER COMPRESSOR: Completes Universal Compression Merger
----------------------------------------------------------
Hanover Compressor Company and Universal Compression Holdings
Inc. completed their merger of equals, originally announced in
February 2007.  Effective Aug. 21, 2007, the common stock of the
new combined company, Exterran, will trade under the symbol
"EXH" on the New York Stock Exchange, and the common stock of
Hanover and Universal will no longer be traded.  Each common
share of Hanover will be converted to 0.325 shares of
Exterran, and each common share of Universal will be converted
to one common share of Exterran.

"This combination of two great companies creates a leader in
compression and surface production solutions for the worldwide
oil and gas industry," said Exterran's President and Chief
Executive Officer, Stephen A. Snider.  "The merger positions
Exterran with a broad range of products and services, a wide
geographic presence and the financial strength necessary
to meet the full compression services and production and
processing equipment requirements of our customers around the
globe.  Our terrific team of employees has worked hard to reach
this important milestone, and we look forward to seizing the
growth opportunities that our enhanced size and scope provide."

                  About Universal Compression

Headquartered in Houston, Texas, Universal Compression Holdings,
Inc. nka Exterran Holdings Inc. -- http://www.exterran.com/--
provides natural gas compression equipment and services,
primarily to the energy industry in the United States,
Argentina, Australia, Bolivia, Brazil, Canada, China, Colombia,
Ecuador, Indonesia, Mexico, Nigeria, Peru, Russia, Switzerland,
Thailand, Tunisia and Venezuela.  Its primary fabrication
facilities are located in Houston, Texas, and Calgary,
Alberta.

                   About Hanover Compressor

Headquartered in Houston, Texas, Hanover Compressor Company
(NYSE:HC) -- http://www.hanover-co.com/-- is in full service
natural gas compression and provider of service, fabrication and
equipment for oil and natural gas production, processing and
transportation applications.  Hanover sells and rents this
equipment and provides complete operation and maintenance
services, including run-time guarantees for both customer-owned
equipment and its fleet of rental equipment.  Founded in 1990
and a public company since 1997, Hanover's customers include
both major and independent oil and gas producers and
distributors as well as national oil and gas companies.  It has
locations in Argentina, Bolivia, Brazil, Colombia, Mexico, Peru,
Venezuela, India, China, Indonesia, Japan, Korea, Taiwan, the
United Kingdom, and Vietnam, among others.

                       *     *     *

As reported in the Troubled Company Reporter on Feb. 8, 2007,
Standard & Poor's Ratings Services placed the 'BB-' corporate
credit ratings on oilfield service company Hanover Compressor
Co. and its related entity Hanover Compression L.P. on
CreditWatch with positive implications.


MITEL NETWORKS: Zarlink Sells Equity Interest for US$12.9 Mln
-------------------------------------------------------------
Zarlink Semiconductor Inc. reported on Thursday last week that
it has sold its Mitel Networks Corporation shares for
US$12.9 million, following the approval of the merger of Mitel
and Inter-Tel (Delaware) Incorporated.

Zarlink obtained ownership of 10 million common shares of Mitel
through the sale of its systems business in fiscal 2001.  In
fiscal 2002, Zarlink acquired a put right on its shares as a
result of conditions obtained by a new investor in Mitel.

On June 4, 2007, Zarlink and other put right holders agreed to
an amendment to the put right as a result of Mitel's announced
proposed merger with Inter-Tel and associated refinancing
arrangements.

As provided in the amended put right, Zarlink received payment
from Mitel of US$1.29 per share.  The US$12.9 million in
proceeds received through the sale of this investment results in
an additional US$0.10 earnings per share for the second quarter
fiscal 2008 as the Mitel shares were carried on Zarlink's books
at no value.  In light of the payment and the company's recent
acquisition of Legerity, Zarlink will be issuing revised
guidance for the second quarter fiscal 2008 within the next
week.

                   About Zarlink Semiconductor

Zarlink Semiconductor -- http://www.zarlink.com/-- delivers
semiconductor solutions that drive the capabilities of voice,
enterprise, broadband and wireless communications.  The company
has been in operations for over 30 years.

                      About Mitel Networks

Headquartered in Herndon, Virginia, Mitel Networks Corporation
-- http://www.mitel.com/-- delivers the full value of IP
Communications through networked business solutions that help
customers achieve success through business process integration,
enhanced employee productivity, increased customer loyalty and
helping to generate new revenue streams.

The company has operations in Brazil, the United Kingdom and
Indonesia.

                           *     *     *

As reported in the Troubled Company Reporter on June 22, 2007,
Standard & Poor's Ratings Services assigned its 'B' long-term
corporate credit rating to Ottawa-based Mitel Networks Corp.
S&P said the outlook is stable.


NASDAQ STOCK: Hires J.P. Morgan to Explore Sale of LSE Stake
------------------------------------------------------------
The Nasdaq Stock Market Inc.'s Board of Directors has authorized
the company to explore alternatives to divest its approximately
31% stake (61.3 million shares) in the London Stock Exchange
Group plc.  NASDAQ has retained J.P. Morgan Securities Inc. and
UBS Investment Bank to assist in its review of sale
alternatives.

In making the announcement, NASDAQ stated its belief that its
current stock price does not adequately reflect the value of its
stake in the LSE.  NASDAQ said it will use approximately
US$1 billion of proceeds from any sale to retire senior term
debt and intends to use the remainder to repurchase shares.
NASDAQ estimates that selling the stake would increase its
stand-alone earnings per share for 2008 by approximately US$0.30
to US$0.35.

NASDAQ confirmed in a later statement that the review of
alternatives to divest its stake in LSE would not involve a sale
by NASDAQ to any single purchaser (or to persons known to NASDAQ
to be acting in concert in connection with the purchase) of an
interest in shares carrying 30% or more of the voting rights of
LSE.

Analysts saw the potential sale of the LSE shares as a good step
for NASDAQ, The Wall Street Journal's Aaron Lucchetti and
Alistair MacDonald relate.

The Nasdaq Stock Market Inc. (Nasdaq: NDAQ) --
http://www.nasdaq.com/-- is the largest electronic equity
securities market in the United States with about 3,200
companies.

                          *     *     *

In February 2007, Moody's Investors Service placed The NASDAQ
Stock Market Inc.'s long-term corporate family rating at Ba3
with a negative outlook.  In November 2006, Standard & Poor's
rated the company's long-term local and foreign issuer credits
at BB with a stable outlook.  Both ratings still apply to date.


NASDAQ STOCK: Urges OMX Shareholders to Support Offer
-----------------------------------------------------
The Nasdaq Stock Market Inc. urges OMX AB shareholders and
stakeholders to support NASDAQ's offer, stating that compared to
Bourse Dubai's offer to acquire all of the outstanding stock of
OMX, NASDAQ's offer:

   -- provides superior long-term value;

   -- will strengthen the Nordic region as a financial center by
      providing enhanced opportunities for economic growth
      throughout the region; and

   -- delivers significant benefits for customers and
      stakeholders of OMX.

NASDAQ says it remains committed to its recommended offer for
OMX, which the OMX board of directors unanimously recommended
OMX shareholders to accept in a joint press statement on May 25,
2007.

"We remain convinced that our offer to merge with OMX is in the
best short- and long-term interests of all OMX shareholders,"
Bob Greifeld, president and chief executive officer of NASDAQ,
said. "As the global leader in the exchange industry, we have
more than 36 years of experience in generating value for our
listed companies and the trading community, with a proven track
record of delivering value to our shareholders."

"This transaction brings together the best of both organizations
under a common vision," Mr. Greifeld added.  "We are excited to
welcome Magnus Bocker and his team into a combined company that
has the best technology, most liquid trading platforms, over
4,000 listed companies and a record of successful integration.
We believe this compares favorably with the Dubai exchange, with
only 51 listed companies dominated by one issuer."

"We remain in close dialogue with the management team and board
of directors at OMX and remain committed to structural
flexibility and have the financial wherewithal to consider other
approaches," Mr. Greifeld continued.

The NASDAQ offer includes a substantial portion of NASDAQ
shares, giving OMX shareholders a 28% stake in the combined
company, NASDAQ OMX Group, and the opportunity to participate in
the resulting long-term value creation opportunity.

NASDAQ OMX Group will bring together two companies that share a
focus on continuous innovation and growth, a strategy that
leverages technology as a competitive strength and a commitment
to increasing shareholder value.

The new company combines two complementary businesses, uniting
NASDAQ's brand, efficient electronic trading platform and track
record of customer-focused innovation with OMX's global
technology services platform and customer base, efficient Nordic
Exchange, and track record of cross-border exchange
integrations.

The combination will create:

   -- a premier exchange company;

   -- technology with a presence in 50 countries;

   -- increased visibility and access to global investment
      for issuers; and

   -- enhanced opportunity to establish the Nordic region as
      a financial center and trading and listing hub on the
      global stage.

The NASDAQ OMX Group will have increased financial and
managerial resources to drive organic growth and will be the
partner of choice for future cooperation and consolidation
opportunities in Europe, the Americas and Asia.

Furthermore, the merged company will be able to realize total
pre-tax annual synergies of at least US$150 million.
Consequently, NASDAQ is confident that the long-term financial
and operational benefits to shareholders of a NASDAQ-OMX
combination are significantly greater than Bourse Dubai's offer.

                 Enhancing Nordic Capital Markets

Capital markets are the engine of economic growth.  To build on
its success and economic development in the Nordic region, OMX
would combine with a company that has the incentives,
transparency, experience and expertise required to thrive in the
evolving global financial marketplace.

A NASDAQ-OMX combination will create additional business
opportunities for the Nordic Exchange and increase the pools of
capital to which the companies listed on the exchange have
access.  This will enhance the international profile of the
companies listed on the exchange and increase liquidity and
reduce volatility in the market.

Furthermore, better access to capital and marketing
opportunities will help increase the value of existing listed
companies, attract new listings, and contribute to the Nordic
region's overall growth and the development of Stockholm as a
financial center.  The combination with NASDAQ will also lead to
increased efficiencies, which will benefit all of the exchange's
members and its listed companies and enable OMX to be efficient
securities marketplace.

NASDAQ's incentives are aligned to promote continued development
of the Nordic and Baltic capital markets, and provide a platform
for the combined organizations' growth throughout Europe, while
Bourse Dubai's vision for OMX inevitably will focus on promoting
the economic interests of Dubai.

The NASDAQ OMX Group will be transparent organization with
publicly-filed financial statements operating under numerous
checks and balances, including an independent board with
substantial Nordic representation and clear duties, a broad
shareholder base, and oversight from regulators at the local and
holding company levels.

In NASDAQ's view, this is a superior model for establishing and
maintaining an efficient and effective relationship with
regulators, and complements NASDAQ's and OMX's long history of
cordial relations with expert regulators and compliance with
sophisticated and legal regimes.

                   About Nasdaq Stock Market Inc.

Headquartered in New york City, The Nasdaq Stock Market Inc.
(Nasdaq: NDAQ) -- http://www.nasdaq.com/-- is an electronic
equity securities market in the United States with about 3,200
companies.

                          *     *     *

In February 2007, Moody's Investors Service placed The NASDAQ
Stock Market Inc.'s long-term corporate family rating at Ba3
with a negative outlook.  In November 2006, Standard & Poor's
rated the company's long-term local and foreign issuer credits
at BB with a stable outlook.  Both ratings still apply to date.


PARK VIEW: Claims Filing Period Ends October 1
----------------------------------------------
Creditors of Park View (Pembroke) Ltd. have until Oct. 1 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:

         Keith R. Morgan
         PKF (U.K.) LLP
         Joint Liquidator
         18 Park Place
         Cardiff
         CF10 3PD
         Wales

Keith R. Morgan and Ross D. Connock of PKF (U.K.) LLP were
appointed joint liquidators of the company on Aug. 3 for the
creditors' voluntary winding-up procedure.


PIPE HOLDINGS: Moody's Cuts Corporate Family Rating to B2
---------------------------------------------------------
Moody's Investors Service downgraded to B2 from B1 the Corporate
Family Rating of Pipe Holdings 2 Limited, a holding company of
Polypipe Building Products Ltd.

Furthermore, Moody's has placed the CFR on review for further
possible downgrade. At the same time, Moody's has also
downgraded the GBP122 million Senior Secured Notes due 2011
issued by Pipe Holdings Plc to B1 from Ba3 (LGD3, 34%); and the
rating of the GBP66 million Senior Unsecured Notes due 2013
issued by Pipe Holdings Plc to Caa1 (LGD5, 79%) from B2.
Moody's has additionally placed both instrument ratings on
review with direction uncertain.

The rating action was prompted by the company's announcement of
a management buyout of the group from the previous owner Castle
Harlan, Inc. with the backing of a refinancing package from Bank
of Scotland.  The acquisition will be partially financed with
equity, equity-like instruments and new debt, namely a 9-month
Bridging Loan of GBP85.6 million that Moody's understands to be
issued outside and without any recourse to the restricted group
which backs the rated debt.  In addition, the company has access
to a GBP245 million backstop bond repurchase facility to fund a
Change of Control Offer to the bond holders which will be in
place for the next three months.

While the additional debt to finance the acquisition will be
issued outside the restricted group, the downgrade of the CFR to
B2 reflects the additional long term debt servicing pressure on
the restricted group, considering the already limited
flexibility in the capital structure for additional debt. In
addition the downgrade considers that the improvements in the
group's operating performance have been below Moody's
expectations for the B1 rating category as announced in the
press release dated July 25, 2006, namely a reduction of Debt to
EBITDA towards 4.5x compared to a Debt to EBITDA ratio of 5.3x
as at end of 2006.

The review for possible downgrade of the Corporate Family Rating
will encompass an analysis of the group's long term capital
structure, which can at the earliest be determined once the
Change of Control Offer period has expired. In particular the
review will focus on the need to refinance the GBP85.6 million
Bridging Loan which matures within one year, but also a
potential refinancing of the revolving credit facility of GBP35
million.

The B1 rating of the Senior Secured Notes and the Caa1 rating of
the senior unsecured notes have been placed under review with
direction uncertain. The review reflects the uncertainty to what
extent outstanding instruments will be replaced with proceeds
from the GBP245 million backstop bond repurchase facility at the
end of the change of control period. But the review will also
re-assess the security and relative ranking of the debt
instruments in the group's capital structure, also considering
refinanced debt instruments. Moody's will conclude the review
for the instruments' ratings once the redemption period has been
closed and final composition of the capital structure is
determined.

Polypipe's B2 CFR reflects:

   (i) its strong brand recognition in the UK building materials
       market;

  (ii) the company's good position as the leading supplier of
       plastic pipe systems to UK independent builders'
       merchants, with an estimated market share of 50%;

(iii) its reduced vulnerability to the cyclicality of the
       building and construction industry via a solid coverage
       of the Repair, Maintenance and Improvement (RMI) segment;
       and

  (iv) the current industry approach of adjusting prices to
       reflect increases in raw material prices.

However, the ratings also reflect the following challenges:

   (i) the company's limited absolute scale, as evidenced by its
       revenue base of GBP330 million and its exposure to the UK
       construction industry, which has started to experience a
       softening with respect to new housing builds;

  (ii) the volatility in raw material prices -- principally
       plastic polymers, such as polyvinylchloride (PVC),
       polyethylene (PE) and polypropylene (PP) -- which
       Polypipe may not be able to pass on to its customers;

(iii) the competitive, concentrated mature markets in which the
       company operates, particularly in its core segments; and

  (iv) the challenge to reduce the financial leverage, as
       reflected in Total Debt (excluding Cash)/EBITDA of over
       5.3x for 2006, which is more in line with the
       requirements for the single-B rating category.

Liquidity is adequate based on information from the end of Q1
2007, considering the company's access to a GBP35 million
revolving credit facility, of which currently GBP 0.4 mn have
been drawn.

Moody's previous rating action on Polypipe was the confirmation
of the ratings and the change in outlook to negative on July 25,
2006.

Based in Doncaster, South Yorkshire in the UK, Polypipe Building
Products Ltd manufactures a wide range of plastic pipe systems,
predominantly for the UK construction market. In 2006, Polypipe
reported revenues of GBP330 million.


VIRGIN MEDIA: CEO Steve Burch Quits Post Effective Immediately
--------------------------------------------------------------
Virgin Media Inc. CEO Steve Burch has decided to return to the
United States and leave the company with immediate effect for
family and personal reasons.  Mr. Burch will also step down from
Virgin Media's Board.

A search for Mr. Burch's replacement will begin shortly.  In the
meantime, Virgin Media COO Neil Berkett will assume the role of
acting CEO with responsibility for driving forward the company's
strategy and operational development.

Since joining Virgin Media in January 2006, Mr. Burch has led
the company through the merger and subsequent integration of ntl
and Telewest, the acquisition of Virgin Mobile and the
successful re-branding of the company's residential operations
under the Virgin brand.

"Steve has contributed significantly to the transformation of
Virgin Media," said Jim Mooney, Virgin Media's chairman.  "Since
he joined us, the company has emerged as the U.K.'s only 'quad
play' provider and a genuinely distinctive presence in the world
of communications and entertainment.  On behalf of Virgin
Media's Board of Directors, I thank him for his contribution to
our development and wish him every success for the future."

                      About Virgin Media

Headquartered in London, England, Virgin Media Inc. (fka NTL
Inc.) (NASDAQ: VMED) -- http://virginmedia.com/-- provides
broadband, digital television, telephony, content and
communications services, reaching over 50% of the U.K. homes and
85% of the U.K. businesses.

                            *   *   *

As reported in the TCR-Europe on Aug. 13, 2007, Moody's
Investors Service changed the outlook on the ratings of
Virgin Media Inc. to negative from stable.

The ratings affected are:

Virgin Media Inc.

   -- Corporate Family Rating at Ba3

Virgin Media Investment Holdings Ltd.

   -- Tranches A / B senior secured facility at Ba2

   -- Trance C second lien facility at B2

Virgin Media Finance plc.

   -- Senior notes at B2

In April 2007, in connection with the implementation of Moody's
Investors Service's new Probability-of-Default and Loss-Given-
Default rating methodology for the existing non-financial
speculative-grade corporate issuers in Europe, Middle East and
Africa, the rating agency confirmed its Ba3 Corporate Family
Rating for Virgin Media Inc.

Moody's also assigned a Ba3 Probability-of-Default Rating to the
company.

In March 2007, Standard & Poor's Ratings Services affirmed its
'BB-' senior secured debt rating and '1' recovery rating on
Virgin Media Investment Holdings Ltd.'s GBP4.98 billion senior
secured facilities.


WHOLE FOODS: Appellate Court Puts Wild Oats Merger Deal on Hold
---------------------------------------------------------------
A federal appeals court temporarily put on hold Whole Foods
Market Inc.'s US$565 million purchase of Wild Oats Markets Inc.,
The Wall Street Journal said on its Web site Tuesday.

The order, WSJ relates, prevented Whole Foods from "taking any
further steps to acquire" Wild Oats.

Earlier, Federal Trade Commission Competition Director Jeffrey
Schmidt expressed regret at a federal district court decision
regarding a proposed merger between Whole Foods and Wild Oats,
calling it a loss for both consumers and competition.

On Aug. 16, 2007, the U.S. District Court for the District of
Columbia denied the FTC's request for a preliminary injunction
related to the proposed merger.

"We respect the Court's decision, which we currently are
reviewing.  We brought this challenge because the evidence
before us showed that the merger would most likely result in
higher prices and reduced choices for consumers who shop at
premium natural and organic supermarkets," Mr. Schmidt said.
"We are reviewing our options."

On June 5, 2007, the FTC authorized its staff to seek a federal
district court order to prevent Whole Foods from acquiring Wild
Oats.  The FTC argued in court in Washington, DC, on July 31 and
August 1, 2007, that the merger would violate federal antitrust
laws by substantially reducing competition in the market for
premium natural and organic supermarkets in several geographic
areas throughout the United States.  The federal district court
decision allows the transaction to proceed, pending the FTC's
filing of a request for emergency stay with the district and
appellate courts prior to its appeal being heard.  The
Commission also has authorized the staff to act on its
administrative complaint to permanently enjoin the merger.

                     About Wild Oats Markets

Headquartered in Boulder, Colorado, Wild Oats Markets Inc. --
http://www.wildoats.com/-- is a natural and organic foods
retailer in North America with annual sales of approximately
US$1.2 billion.  Wild Oats Markets was founded in Boulder,
Colorado in 1987.  Wild Oats Markets currently operates 110
stores in 24 states and British Columbia, Canada under four
banners: Wild Oats Marketplace (nationwide), Henry's Farmers
Market (Southern California), Sun Harvest (Texas), and Capers
Community Market (British Columbia).

                     About Whole Foods Market

Founded in 1980 in Austin, Texas, Whole Foods Market, Inc.
(NASDAQ: WFMI) -- http://www.wholefoodsmarket.com/-- is a
natural and organic foods supermarket.  In fiscal year 2006,
the company had sales of US$5.6 billion and currently has more
than 190 stores in the United States, Canada, and the United
Kingdom.

                          *     *     *

As reported in the Troubled Company Reporter on May 1, 2007,
Standard & Poor's Ratings Services said that while the ratings
on Whole Foods Market Inc., including the 'BBB-' corporate
credit rating, currently remain on CreditWatch with negative
implications, where they were placed on Feb. 22, 2007, S&P will
lower the corporate credit rating to 'BB+' from 'BBB-' upon
closure of its acquisition of Wild Oats Inc.  At that time,
ratings will also be removed from CreditWatch.  The outlook will
be stable.


WHOLE FOODS: Moves Wild Oats Tender Offer Expiration to Aug. 27
---------------------------------------------------------------
Whole Foods Market Inc. has extended the expiration date for its
tender offer to purchase outstanding shares of Wild Oats Markets
to 5:00 p.m., Eastern time, Monday, Aug. 27, 2007, based on the
United States Court of Appeals for the District of Columbia
Circuit's order enjoining the merger with Wild Oats Markets Inc.
pending further order.

"The purpose of the stay order is to give the court sufficient
opportunity to consider the merits of the motion for an
injunction and should in no way be construed as a ruling on the
merits," Paul Denis of Dechert LLP, lead litigation counsel on
behalf of Whole Foods Market, said.  "We will file our
responsive brief by Wednesday afternoon and the FTC has until
noon, Eastern Time Thursday, to file their response. We will
then hope for a quick ruling that legally clears the way for the
merger to move forward."

As of the close of business on Aug. 17, 2007, a total of
20,376,834 shares of common stock of Wild Oats, which represent
approximately 68.1% of the 29,926,251 shares that were
outstanding as of July 27, 2007, have been tendered and not
withdrawn pursuant to the tender offer.

On Feb. 21, 2007, Whole Foods Market entered into a merger
agreement with Wild Oats, pursuant to which Whole Foods Market,
through a wholly-owned subsidiary, has commenced a tender offer
to purchase all of the outstanding shares of Wild Oats at a
purchase price of US$18.50 per share in cash.

On June 7, 2007, the FTC filed a suit in the federal district
court to block the proposed acquisition on antitrust grounds and
seeking a temporary restraining order and preliminary injunction
pending a trial on the merits.  Whole Foods Market and Wild Oats
consented to a temporary restraining order pending a hearing on
the preliminary injunction, which concluded on Aug. 1, 2007.

On Aug. 16, 2007, the U.S. District Court for the District of
Columbia denied the FTC's motion for a preliminary injunction.
In order to permit an orderly review by the District Court and
the Court of Appeals, Whole Foods and Wild Oats agreed not to
consummate the transaction until noon Monday, Aug. 20, 2007, in
order to permit the FTC to have an opportunity to request a stay
of the District Court's decision pending appeal.

On Aug. 17, 2007, the District Court issued an order denying the
FTC's request for a stay pending appeal.  On Aug. 20, 2007, the
United States Court of Appeals for the District of Columbia
Circuit issued an order enjoining the merger pending further
order.

                     About Wild Oats Markets

Headquartered in Boulder, Colorado, Wild Oats Markets Inc. --
http://www.wildoats.com/-- is a natural and organic foods
retailer in North America with annual sales of approximately
US$1.2 billion.  Wild Oats Markets was founded in Boulder,
Colorado in 1987.  Wild Oats Markets currently operates 110
stores in 24 states and British Columbia, Canada under four
banners: Wild Oats Marketplace (nationwide), Henry's Farmers
Market (Southern California), Sun Harvest (Texas), and Capers
Community Market (British Columbia).

                    About Whole Foods Market

Founded in 1980 in Austin, Texas, Whole Foods Market, Inc.
(NASDAQ: WFMI) -- http://www.wholefoodsmarket.com/-- is a
natural and organic foods supermarket.  In fiscal year 2006,
the company had sales of US$5.6 billion and currently has more
than 190 stores in the United States, Canada, and the United
Kingdom.

                         *     *     *

As reported in the Troubled Company Reporter on May 1, 2007,
Standard & Poor's Ratings Services said that while the ratings
on Whole Foods Market Inc., including the 'BBB-' corporate
credit rating, currently remain on CreditWatch with negative
implications, where they were placed on Feb. 22, 2007, S&P will
lower the corporate credit rating to 'BB+' from 'BBB-' upon
closure of its acquisition of Wild Oats Inc.  At this time,
ratings will also be removed from CreditWatch.  The outlook will
be stable.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------
Aug. 23-26, 2007
  NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
     NABT Convention
        Drake Hotel, Chicago, Illinois
           Contact: http://www.nabt.com/

Aug. 24, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Annual Fishing Trip
        Point Pleasant, New Jersey
           Contact: 908-575-7333 or http://www.turnaround.org/

Aug. 28, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon - Healthcare Panel
        Centre Club, Tampa, Florida
           Contact: http://www.turnaround.org/

Aug. 29-30, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     3rd Annual Northeast Regional Conference
        Gideon Putnam Resort and Spa, Saratoga Springs,
           New York
              Contact: http://www.turnaround.org/

Sept. 6, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Breakfast Event
        Carnelian Room, San Francisco, California
           Contact: 510-346-6000 ext 226 or
                    http://www.turnaround.org/

Sept. 6-7, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Complex Financial Restructuring Program
        Four Seasons, Las Vegas, Nevada
           Contact: http://www.turnaround.org/

Sept. 6-8, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     15th Annual Southwest Bankruptcy Conference
        Four Seasons, Las Vegas, Nevada
              Contact: http://www.abiworld.org/

Sept. 11, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Annual Networking at the Yards
        Oriole Park at Camden Yards, Baltimore, Maryland
           Contact: 215-657-5551 or http://www.turnaround.org/

Sept. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Body of Knowledge - CTP Review Class
        Chicago, Illinois
           Contact: http://www.turnaround.org/

Sept. 18, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     14th Annual Connecticut Children's Medical Center
        Fundraiser Golf Outing
           Woodbridge Country Club, Woodbridge, Connecticut
              Contact: 203-265-2048 or
                 http://www.turnaround.org/

Sept. 19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Buying and Selling Troubled Companies
        Marriott North, Fort Lauderdale, Florida
           Contact: http://www.turnaround.org/

Sept. 20, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Lean Transformation at Current and Other Case Studies
        Denver Athletic Club, Denver, Colorado
           Contact: http://www.turnaround.org/

Sept. 25, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon - Retail Panel
        Citrus Club, Orlando, Florida
           Contact: http://www.turnaround.org/

Sept. 26, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Joint Educational & Networking Reception
        TBD, New Jersey
           Contact: 908-575-7333 or http://www.turnaround.org/

Sept. 26-27, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Florida Annual Golf Tournament
        Tampa, Florida
           Contact: 561-882-1331 or http://www.turnaround.org/

Sept. 27, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Arizona Chapter Meeting
        TBA, Arizona
           Contact: http://www.turnaround.org/

Sept. 27-30, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     8th Annual Cross Border Business
        Restructuring & Turnaround Conference
           Contact: http://www.turnaround.org/

Oct. 2, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Networking Breakfast
        TBD, Bridgewater, New Jersey
           Contact: 908-575-7333 or http://www.turnaround.org/

Oct. 4, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Breakfast Event
        Carnelian Room, San Francisco, California
           Contact: 510-346-6000 ext 226 or
                    http://www.turnaround.org/

Oct. 5, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/GULC "Views from the Bench"
        Georgetown University Law Center
           Washington, District of Columbia

Oct. 9-10, 2007
  INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING
     CONFEDERATION
        IWIRC Annual Fall Conference
           Orlando, Florida
              Contact: http://www.iwirc.org/

Oct. 10-13, 2007
  NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
     81st Annual National Conference of Bankruptcy Judges
        Contact: http://www.ncbj.org/

Oct. 11, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon
        University Club, Jacksonville, Florida
           Contact: 561-882-1331 or http://www.turnaround.org/

Oct. 11, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Winn Dixie Bankruptcy
        University Club, Jacksonville, Florida
           Contact: 561-882-1331 or http://www.turnaround.org/

Oct. 12, 2007
  INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
     Presentation by George F. Will: The Political Argument
        Today
           Orlando, Florida
              Contact: http://www.ardent-services.com/

Oct. 12, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     ABI Educational Program at NCBJ
        Orlando World Marriott, Orlando, Florida
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 16-19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott Copley Place
           Boston, Massachussets
              Contact: 312-578-6900; http://www.turnaround.org/

Oct. 23, 2007
  BEARD AUDIO CONFERENCES
     Partnerships in Bankruptcy
        Contact: 240-629-3300;
                 http://www.beardaudioconferences.com/

Oct. 25, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Capital Markets Case Study
        Seattle, Washington
           Contact: http://www.turnaround.org/

Oct. 25, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Arizona Chapter Meeting
        Contact: http://www.turnaround.org/

Oct. 26, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     International Insolvency Symposium
        Hotel Adlon Kempinski, Berlin, Germany
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 30, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon
        Centre Club, Tampa, Florida
           Contact: 561-882-1331; http://www.turnaround.org/

Oct. 30, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Crisis Communications With Employees, Vendors and Media
        Centre Club, Tampa, Florida
           Contact: http://www.turnaround.org/

Nov. 1, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Breakfast Event
        Carnelian Room, San Francisco, California
           Contact: 510-346-6000 ext 226 or
                    http://www.turnaround.org/

Nov. 1, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Networking Breakfast
        TBD, Hackensack, New Jersey
           Contact: 908-575-7333; http://www.turnaround.org/

Nov. 12, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     Consumer Bankruptcy Conference
        Marriott, Troy, Michigan
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Holiday Mixer
        McCormick & Schmick's, Las Vegas, Nevada
           Contact: 702-952-2480 or http://www.turnaround.org/

Nov. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Aloha Airlines Story
        Bankers Club, Miami, Florida
           Contact: http://www.turnaround.org/

Nov. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Australia 4th Annual Conference and Gala Dinner
         Hilton, Sydney, Australia
           Contact: http://www.turnaround.org/

Nov. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Dinner
        TBA, South Florida
           Contact: 561-882-1331 or http://www.turnaround.org/

Nov. 15, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Portland Holiday Party
        University Club, Portland, Oregon
           Contact: 206-223-5495; http://www.turnaround.org/

Nov. 22, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Networking Mixer
        TBA, Vancouver, British Columbia
           Contact: 206-223-5495; http://www.turnaround.org/

Nov. 27, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon - Real Estate Panel
        Citrus Club, Orlando, Florida
           Contact: http://www.turnaround.org/

Nov. 29, 2007
  INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
     Holiday Gala
        Yale Club, New York, New York
           Contact: http://www.iwirc.org/

Nov. 29, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Special Speaker
        TBD, New Jersey
           Contact: 908-575-7333; http://www.turnaround.org/

Nov. 29, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Special Speaker
        Hilton, Sydney, Australia
           Contact: http://www.turnaround.org/

Nov. 29, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Arizona Chapter Meeting
        Contact: http://www.turnaround.org/

Dec. 6, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Seattle Holiday Party
        Athletic Club, Seattle, Washington
           Contact: 206-223-5495; http://www.turnaround.org/

Dec. 6-8, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        Westin Mission Hills Resort, Rancho Mirage, California
           Contact: 1-703-739-0800; http://www.abiworld.org/

Dec. 13, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Holiday Extravaganza - TMA & CFA
        Georgia Aquarium, Atlanta, Georgia
           Contact: 678-795-8103 or http://www.turnaround.org/

Dec. 13, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Holiday Extravaganza - TMA & CFA
        Georgia Aquarium, Atlanta, Georgia
           Contact: 678-795-8103 or http://www.turnaround.org/

Dec. 19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     South Florida Dinner
        TBA, South Florida
           Contact: 561-882-1331; http://www.turnaround.org/

Jan. 10, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon
        University Club, Jacksonville, Florida

Feb. 7, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     Breakfast Event
        Carnelian Room, San Francisco, California
           Contact: 510-346-6000 ext 226 or
                    http://www.turnaround.org/

Mar. 25-29, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        Ritz Carlton Grande Lakes, Orlando, Florida
           Contact: http://www.turnaround.org/

Apr. 3-6, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     26th Annual Spring Meeting
        The Renaissance, Washington, District of Columbia
           Contact: http://www.abiworld.org/

Apr. 25-27, 2008
  NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
     NABT Spring Seminar
        Eldorado Hotel & Spa, Santa Fe, New Mexico
           Contact: http://www.nabt.com/

May 1-2, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     Debt Symposium
        Hilton Garden Inn, Champagne/Urbana, Illinois
           Contact: 1-703-739-0800; http://www.abiworld.org/

June 4-7, 2008
  ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
     24th Annual Bankruptcy & Restructuring Conference
        J.W. Marriott Spa and Resort, Las Vegas, Nevada
           Contact: http://www.airacira.org/

June 12-14, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     15th Annual Central States Bankruptcy Workshop
        Grand Traverse Resort and Spa, Traverse City, Michigan
           Contact: http://www.abiworld.org/

July 10-13, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     16th Annual Northeast Bankruptcy Conference
        Ocean Edge Resort
           Brewster, Massachussets
              Contact: http://www.turnaround.org/

July 31 - Aug. 2, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     4th Annual Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay
           Cambridge, Maryland
              Contact: http://www.abiworld.org/

Aug. 16-19, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     13th Annual Southeast Bankruptcy Workshop
        Ritz-Carlton, Amelia Island, Florida
           Contact: http://www.abiworld.org/

Aug. 20-24, 2008
  NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
     NABT Convention
        Captain Cook, Anchorage, Alaska
           Contact: http://www.nabt.com/

Sept. 24-27, 2008
  NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
     National Conference of Bankruptcy Judges
        Scottsdale, Arizona
           Contact: http://www.ncbj.org/

Oct. 28-31, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott New Orleans, Louisiana
           Contact: 312-578-6900; http://www.turnaround.org/

Dec. 3-5, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     20th Annual Winter Leadership Conference
        Westin La Paloma Resort & Spa
           Tucson, Arizona
              Contact: http://www.abiworld.org/

May 7-10, 2009
  AMERICAN BANKRUPTCY INSTITUTE
     27th Annual Spring Meeting
        Gaylord National Resort & Convention Center
           National Harbor, Maryland
              Contact: http://www.abiworld.org/

June 21-24, 2009
  INTERNATIONAL ASSOCIATION OF RESTRUCTURING, INSOLVENCY &
     BANKRUPTCY PROFESSIONALS
        8th International World Congress
           TBA
              Contact: http://www.insol.org/

Sept. 10-12, 2009
  AMERICAN BANKRUPTCY INSTITUTE
     17th Annual Southwest Bankruptcy Conference
        Hyatt Regency Lake Tahoe, Incline Village, Nevada
           Contact: http://www.abiworld.org/

Oct. 5-9, 2009
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott Desert Ridge, Phoenix, Arizona
           Contact: 312-578-6900; http://www.turnaround.org/

Dec. 3-5, 2009
  AMERICAN BANKRUPTCY INSTITUTE
     21st Annual Winter Leadership Conference
        La Quinta Resort & Spa, La Quinta, California
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 4-8, 2010
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        JW Marriott Grande Lakes, Orlando, Florida
           Contact: http://www.turnaround.org/

BEARD AUDIO CONFERENCES
  2006 BACPA Library
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/;
              http://researcharchives.com/t/s?20fa

BEARD AUDIO CONFERENCES
  BAPCPA One Year On: Lessons Learned and Outlook
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Calpine's Chapter 11 Filing
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Changes to Cross-Border Insolvencies
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Changing Roles & Responsibilities of Creditors' Committees
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Clash of the Titans -- Bankruptcy vs. IP Rights
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Coming Changes in Small Business Bankruptcy
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Dana's Chapter 11 Filing
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Deepening Insolvency ? Widening Controversy: Current Risks,
     Latest Decisions
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Diagnosing Problems in Troubled Companies
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Distressed Claims Trading
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Distressed Market Opportunities
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Distressed Real Estate under BAPCPA
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Employee Benefits and Executive Compensation under the New
     Code
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Equitable Subordination and Recharacterization
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Fundamentals of Corporate Bankruptcy and Restructuring
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Handling Complex Chapter 11
     Restructuring Issues
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Healthcare Bankruptcy Reforms
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  High-Yield Opportunities in Distressed Investing
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Homestead Exemptions under BAPCPA
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Hospitals in Crisis: The Insolvency Crisis Plaguing
     Hospitals Across the U.S.
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  IP Rights In Bankruptcy
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  KERPs and Bonuses under BAPCPA
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Partnerships in Bankruptcy: Unwinding The Deal
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Privacy Rights, Protections & Pitfalls in Bankruptcy
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Real Estate Bankruptcy
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Reverse Mergers?the New IPO?
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Second Lien Financings and Intercreditor Agreements
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Surviving the Digital Deluge: Best Practices in E-Discovery
     and Records Management for Bankruptcy Practitioners
        and Litigators
           Audio Conference Recording
              Contact: 240-629-3300;
                 http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Technology as a Competitive Advantage For Today's Legal
Processes
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Twenty-Day Claims
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Validating Distressed Security Portfolios: Year-End Price
     Validation and Risk Assessment
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  When Tenants File -- A Landlord's BAPCPA Survival Guide
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday. Submissions via e-mail
to conferences@bankrupt.com are encouraged.


                            *********

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 D. 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 * * *