TCREUR_Public/070905.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

          Wednesday, September 5, 2007, Vol. 8, No. 176

                            Headlines


A U S T R I A

ARTHOFER LLC: Claims Registration Period Ends Sept. 11
BAU- UND KUNSTSCHLOSSEREI: Claims Registration Ends Sept. 7
HASIBUTZ LLC: Vienna Court Orders Business Shutdown
P+R MULTIMEDIA: Claims Registration Period Ends Sept. 14
SONOMEDSYSTEMS LLC: Court Orders Business Shutdown

STERN KEG: Vienna Court Orders Business Shutdown
UCHATZI LLC: Claims Registration Period Ends Sept. 14


B E L G I U M

CHIQUITA BRANDS: ICG Commerce Managing Firm's Indirect Spending
LEVI STRAUSS: Improved Performance Cues S&P to Lift Rating to B+


D E N M A R K

TDC A/S: Names Jesper Theill Eriksen Senior Executive VP


F R A N C E

BOSTON SCIENTIFIC: Settles Guidant Devices Dispute for US$16.75M
COMPLETEL SAS: S&P Puts B- Ratings on EUR80 Million Tender Offer
OWENS CORNING: Completes US$371 Mln Sale Deal with Saint-Gobain
PRIDE INTERNATIONAL: Fitch Affirms "BB" Issuer Default Rating


G E R M A N Y

AGENTUR GASTHAUS: Creditors’ Meeting Slated for October 10
AQUA WASSERAUFBEREITER: Creditors Must File Claims by Oct. 10
ASSET MANAGEMENTGESELLSCHAFT: Claims Registration Ends Oct. 15
AUTOHAUS DESPETAL: Claims Registration Ends November 12
BACKMEIER GMBH: Claims Registration Period Ends Oct. 10

BECKER-VERWALTUNGSGESELLSCHAFT: Claims Registration Ends Oct. 16
CHRYSLER LLC: Offers to Sell Non-Core Assets in UAW Negotiations
FORTE DESIGN: Creditors Must File Claims by October 8
HARTUNG EINRICHTUNGEN: Claims Registration Period Ends Oct. 17
HORESTA GMBH: Creditors’ Meeting Slated for October 26

IKB DEUTSCHE: Projects EUR700 Million Loss for Fiscal 2007-2008
INCERVA GMBH: Creditors Must File Claims by October 12
LE SNACK: Claims Registration Period Ends Oct. 10
L.R.S. LKW-REIFEN-SERVICE: Creditors’ Meeting Slated for Oct. 8
MCFLIGHT FLUGVERMITTLUNG: Excessive Losses Trigger Insolvency

OPTIMAL DENTAL: Claims Registration Ends Oct. 15
PERFECT WASH: Claims Registration Period Ends Oct. 19
POBURSKI DACHTECHNIK: Claims Registration Period Ends Oct. 17
SCHNITT E. GMBH: Creditors Must Register Claims by September 24
SEAMAN SPORT: Claims Registration Period Ends Oct. 19

SOLA FACILITY: Claims Registration Ends Oct. 16
TREOFAN GERMANY: S&P Holds B- Rating on EUR170 Million Notes
TREOFAN HOLDINGS: S&P Affirms B- Ratings on Liquidity Concerns
TRIMAG BAUGESELLSCHAFT: Claims Registration Ends September 21
TRUMF DEUTSCHLAND: Claims Registration Ends September 27

TUI AG: TUI Travel Begins Trading on the London Stock Exchange
URSULA BARTH: Claims Registration Period Ends Oct. 9
W & G WOHN: Claims Registration Period Ends Oct. 9
YORKSHIRE GASTRONOMIE: Claims Registration Ends September 28


I T A L Y

ALITALIA SPA: Posts EUR1.05 Bln Group Debt as of July 31, 2007
AVAGO TECHNOLOGIES: Posts US$167 Million Net Loss in Third Qtr.
TISCALI SPA: Shareholders Approve EUR220 Mln Capital Increase
TK ALUMINUM: Inks Purchase Agreement with Bavariaring


K A Z A K H S T A N

AUTOKOR TRADING: Proof of Claim Deadline Slated for Oct. 5
JANA GASYR: Creditors Must File Claims Oct. 5
SELDOM-2003 LLP: Claims Filing Period Ends Oct. 5
LI CHUEN 1: Creditors' Claims Due on Oct. 5
TRIA FINANCE: Claims Registration Ends Oct. 5


K Y R G Y Z S T A N

MEGA-TOUR LTD: Creditors Must File Claims by October 3


L U X E M B O U R G

AGILENT TECHNOLOGIES: Closes NetworkFab Acquisition
TK ALUMINUM: Inks Purchase Agreement with Bavariaring


N E T H E R L A N D S

AMSTEL SECURITISATION: Moody's Rates EUR70M Class E Notes at Ba2
GETRONICS NV: Royal KPN Takeover Offer Making Good Progress


N O R W A Y

DRESSER-RAND: Amends US$500MM Secured Revolving Credit Facility


P O L A N D

NETIA SA: Third Avenue Management LLC Holds 20.54% Stake


R O M A N I A

FORD MOTOR: Romanian Gov't Blocks Claims Against Craiova plant


R U S S I A

AGRO-TEKH LLC: Creditors Must File Claims by October 11
ALABUGINSKOE CJSC: Creditors Must File Claims by Sept. 11
ATOM-KOMLEKT-POSTAVKA: Creditors Must File Claims by Sept. 11
BEL-AGRO-STAN: Creditors Must File Claims by October 11
BEKETOVSKOE OJSC: Court Names P. Naumenko as Insolvency Manager

CHOICE-XXI LLC: Court Starts Bankruptcy Supervision Procedure
EASTERN OIL-LOADING: Court Names E. Ugolnikova to Manage Assets
INTER-TRADE-GROUP: Creditors Must File Claims by Sept. 11
IVAKINSKIY WOOD-PROM-KHOZ: Court Starts Bankruptcy Supervision
JUNIOR-98 CJSC: Creditors Must File Claims by October 11

KARELIAN PINE: Creditors Must File Claims by October 11
LIPKOVSKIY BAKERY: Bidding Deadline Slated for Sept. 11
LIVIYA-SERVICE: Moscow Bankruptcy Hearing Slated for Nov. 1
MAGNITOGORSK IRON: Shareholders Decide on MMK-Kapital Merger
PROM-STROY-CONTRACT: Creditors Must File Claims by Sept. 11

SEVERSTAL OAO: Board Recommends RUR10 Per Share Dividend
STROY-AUTO-SERVICE: Creditors Must File Claims by October 11
VIMPEL-COMMUNICATIONS: Earns US$359.3 Mln in Second Quarter 2007


S W I T Z E R L A N D

BP GERUSTBAU: Creditors' Liquidation Claims Due September 10
CONSEED JSC: Creditors' Liquidation Claims Due September 10
EUROLEC JSC: Creditors' Liquidation Claims Due September 10
GOLD KEBAB: Creditors' Liquidation Claims Due September 10
GRANU – TEC LLC: Claims Registration Period Ends September 10

IFB INTERNATIONAL: Creditors' Liquidation Claims Due Sept. 10
PCI INFORMATIK: Claims Registration Period Ends September 10
R. SCHAAD: Zurich Court Closes Bankruptcy Proceedings
WASTEPOWER ADVANCE: Zug Court Closes Bankruptcy Proceedings
ZALAFIN HOLDING: Creditors' Liquidation Claims Due September 10


T U R K E Y

DOGAN YAYIN: Fitch Lifts IDR to BB- on Operational Performance
HURRIYET: Cash Flow Generation Cues Fitch’s BB Ratings


U K R A I N E

BRK YAVIR: Creditors Must File Claims by September 6
ELECOM LLC: Creditors Must File Claims by September 6
ELECTROSERVICE LLC: Creditors Must File Claims by September 6
GORODISHCHE LLC: Creditors Must File Claims by September 6
KRYM TEXTILE: Creditors Must File Claims by September 6

SOROKOTIAGA LLC: Creditors Must File Claims by September 6
SPECIAL INDUSTRIAL: Creditors Must File Claims by September 6
SUMY LIFT: Creditors Must File Claims by September 6
TRAVNEVA LLC: Creditors Must File Claims by September 6
TRISLAV LLC: Creditors Must File Claims by September 6

TSENTURION LLC: Creditors Must File Claims by September 6


U N I T E D   K I N G D O M

ANCHOR RINGMER: Calls In Liquidators from Chantrey Vellacot DFK
BAA LTD: Appoints Sir Nigel Rudd as New Non-Executive Chairman
BRITISH ENERGY: Fitch Affirms BB+ Ratings on Strong Performance
CORUS GROUP: Fitch Withdraws Various Ratings on Acquisition
FORD MOTOR: Workers Return to Plant After Venture Strike

FORD MOTOR: Romanian Gov't Blocks Claims Against Craiova plant
FORTRESS WINDOWS: Appoints Stephen P. Grant as Liquidator
GEORGICA PLC: Moody's Withdraws B2 Corporate Family Rating
IMS GLASS: Names Matthew Colin Bowker Liquidator
PITT & ABBOTT: Taps Aileen Jane Crooks to Liquidate Assets

QUANTOCK CEILINGS: Duncan Beat Leads Liquidation Procedure
QUEBECOR WORLD: Completes Tender Offer to Buy Capital's Notes
SANDFORD-WILSON PLUMBING: Claims Filing Period Ends October 9
SHAW GROUP: Files Preliminary Restated Financials with SEC
SUPERIFOODS LTD: Claims Filing Period Ends September 21
WICLIFFE MOTOR: Creditors' Meeting Slated for Sept. 18

                            *********

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


ARTHOFER LLC: Claims Registration Period Ends Sept. 11
------------------------------------------------------
Creditors owed money by LLC Arthofer (FN 96479g) have until
Sept. 11 to file written proofs of claim to court-appointed
estate administrator Wolfgang Strasser at:

         Dr. Wolfgang Strasser
         Hauptplatz 11
         4300 St. Valentin
         Austria
         Tel: 07435/52 4 37
         Fax: 07435/52437/21
         E-mail: st-valentin@advocat24.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:50 a.m. on Oct. 2 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of St. Poelten
         Room 216
         Second Floor
         St. Poelten
         Austria

Headquartered in Seitenstetten, Austria, the Debtor declared
bankruptcy on Aug. 6 (Bankr. Case No. 14 S 137/07y).


BAU- UND KUNSTSCHLOSSEREI: Claims Registration Ends Sept. 7
-----------------------------------------------------------
Creditors owed money by LLC Bau- und Kunstschlosserei A.Pfister
(FN 137699z) have until Sept. 7 to file written proofs of claim
to court-appointed estate administrator Michael Pallauf at:

         Dr. Michael Pallauf
         Petersbrunnstrasse 13
         5020 Salzburg
         Austria
         Tel: 0662/84 12 02
         Fax: 0662-841202-50

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:00 a.m. on Sept. 21 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Salzburg
         Hall 256
         Second Floor
         Salzburg
         Austria

Headquartered in St. Johann im Pongau, Austria, the Debtor
declared bankruptcy on Aug. 9 (Bankr. Case No. 44 S 26/07h).


HASIBUTZ LLC: Vienna Court Orders Business Shutdown
---------------------------------------------------
The Trade Court of Vienna entered Aug. 7 an order shutting down
the business of LLC HASIBUTZ (FN 81622h).

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

The estate administrator can be reached at:

         Mag. Sebastian Lesigang
         c/o Dr. Michael Lesigang
         Wagramerstrasse 19/19
         1220 Vienna
         Austria
         Tel: 269 89 50
         Fax: 269 89 51
         E-mail: sebastian@lesigang.at
                 michael@lesigang.at

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on July 13 (Bankr. Case No 4 S 79/07f).  Michael Lesigang
represents Mag. Lesigang in the bankruptcy proceedings.


P+R MULTIMEDIA: Claims Registration Period Ends Sept. 14
--------------------------------------------------------
Creditors owed money by LLC P+R Multimedia Systems & CO KG (FN
253877z) have until Sept. 14 to file written proofs of claim to
court-appointed estate administrator Christoph Aumayr at:

         Mag. Christoph Aumayr
         Braunauerstrasse 2
         Second Floor
         5230 Mattighofen
         Austria
         Tel: 07742/58002
         Fax: 07742/58002-14
         E-mail: ahp-mattighofen@leges.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:15 a.m. on Sept. 26 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Ried im Innkreis
         Hall 101
         First Floor
         Ried im Innkreis
         Austria

Headquartered in Lochen, Austria, the Debtor declared bankruptcy
on Aug. 7 (Bankr. Case No. 17 S 28/07k).


SONOMEDSYSTEMS LLC: Court Orders Business Shutdown
--------------------------------------------------
The Land Court of Wiener Neustadt entered Aug. 8 an order
shutting down the business of LLC Sonomedsystems (FN 220252a).

Court-appointed estate administrator Peter Michael Wolf
recommended the business shutdown after determining that the
continuing operations would reduce the value of the estate.

The estate administrator can be reached at:

         Mag. Peter Michael Wolf
         Bahnhofsplatz 6
         2340 Moedling
         Austria
         Tel: 02236/230 50
         Fax: 02236/23050-50
         E-mail: wolf@peter.wolf.at

Headquartered in Brunn am Gebirge, Austria, the Debtor declared
bankruptcy on July 30 (Bankr. Case No 10 S 78/07k).


STERN KEG: Vienna Court Orders Business Shutdown
------------------------------------------------
The Trade Court of Vienna entered Aug. 7 an order shutting down
the business of KEG STERN (FN 269737y).

Court-appointed estate administrator Klemens Dallinger
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. Klemens Dallinger
         c/o Dr. Guenther Hoedl
         Schulerstrasse 18
         1010 Vienna
         Austria
         Tel: 513 28 33
         Fax: 513 28 33 22

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


UCHATZI LLC: Claims Registration Period Ends Sept. 14
-----------------------------------------------------
Creditors owed money by LLC Uchatzi (FN 113559z) have until
Sept. 14 to file written proofs of claim to court-appointed
estate administrator Franz Seidl at:

         Dr. Franz Seidl
         Schloss 4/1
         2542 Kottingbrunn
         Austria
         Tel: 02252/71 199
         Fax: 02252/71199-20
         E-mail: ra-f.seidl@eunet.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on Sept. 27 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Wiener Neustadt
         Room 15
         Wiener Neustadt
         Austria

Headquartered in Oeynhausen, Austria, the Debtor declared
bankruptcy on Aug. 9 (Bankr. Case No. 10 S 82/07y).


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


CHIQUITA BRANDS: ICG Commerce Managing Firm's Indirect Spending
---------------------------------------------------------------
Chiquita Brands International Inc. has awarded procurement-
outsourcing specialist ICG Commerce a five-year contract to
manage the firm's indirect spending, the Philadelphia Business
Journal reports, citing ICG Commerce.

The Journal relates that under the contract, ICG Commerce will
manage Chiquita Brands' spending in these areas:

         -- transportation,
         -- marketing,
         -- information technology,
         -- maintenance,
         -- repair, and
         -- operations.

Chiquita Brands' global procurement vice president Onye Uzoukwu
told SDCExec.com that collaborating with ICG Commerce
"complements a key pillar of the company's corporate strategy to
build a high-performance organization by providing its
procurement group with access to the expertise" that will let
the firm concentrates on "core competencies and deliver more
value to the company."

"We expect this agreement will help us drive cost savings, while
allowing us to concentrate on delivering innovative, higher-
margin products to our customers and consumers," Mr. Uzoukwu
commented to SDCExec.com.

                    About ICG Commerce

ICG Commerce is a privately held provider of procurement
services.  Its investors include Internet Capital Group Inc.

                   About Chiquita Brands

Cincinnati, Ohio-based Chiquita Brands International, Inc.
(NYSE: CQB) -- http://www.chiquita.com/-- markets and
distributes fresh food products including bananas and nutritious
blends of green salads.  The company markets its products under
the Chiquita(R) and Fresh Express(R) premium brands and other
related trademarks.  Chiquita employs approximately 25,000
people operating in more than 70 countries worldwide, including
Belgium, Columbia, Germany, Panama, Philippines, among others.

                       *     *     *

As reported in the Troubled Company Reporter on May 16, 2007,
Moody's Investors Service Ratings affirmed these ratings on
Chiquita Brands International Inc.: (i) corporate family rating
at B3; (ii) probability of default rating at B3; (iii) US$250
million 7.5% senior unsecured notes due 2014 at Caa2(LGD5, 89%);
and (iv)  US$225 million 8.875% senior unsecured notes due 2015
at Caa2 (LGD5, 89%).  Moody's changed the rating outlook for
Chiquita Brands to negative from stable.

Troubled Company Reporter reported on May 4, 2007, that Standard
& Poor's Ratings Services placed its 'B' corporate credit and
other ratings on Cincinnati, Ohio-based Chiquita Brands
International Inc. on CreditWatch with negative implications,
meaning that the ratings could be lowered or affirmed following
the completion of their review.  Total debt outstanding at the
company was about US$1.3 billion as of March 31, 2007.


LEVI STRAUSS: Improved Performance Cues S&P to Lift Rating to B+
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its ratings on Levi
Strauss & Co. by one notch, including its long-term corporate
credit rating to 'B+' from 'B'.  The outlook is stable.

"The upgrade incorporates the company's continued improved
operating performance and enhanced liquidity profile," said
Standard & Poor's credit analyst Susan Ding.  "Also its
increased financial flexibility from the extension of debt
maturities, and our expectation that these positive operating
trends will continue."

In recent periods, Levi Strauss has stabilized its revenue base,
repositioned its premium products in Europe, and improved its
margins and financial profile.

"As a result of the company's product repositioning and
restructuring efforts, financial measures have stabilized and
are expected to improve modestly," said Ms. Ding.

The ratings on Levi Strauss reflect its leveraged financial
profile and participation in the intensely competitive denim and
casual pants market.  The ratings also incorporate the inherent
fashion risk in the apparel industry, and management's ability
to continue to revitalize its brands and sustain its revenue and
earnings base.

The company's global divisions are based in Singapore, San
Francisco, and Belgium.


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


TDC A/S: Names Jesper Theill Eriksen Senior Executive VP
--------------------------------------------------------
Jesper Theill Eriksen, president of International Holdings, has
become a member of the executive committee of TDC A/S and has
been appointed senior executive vice president, corporate HR,
chief of staff on Monday, Sept. 3, 2007.  He replaces Henriette
Fenger Ellekrog who will leave TDC by the end of September 2007
to take on a position with SAS.

Jesper Theill Eriksen, aged 39, is Master of Law.  He has been
with TDC since 1996 and has among other things been in charge of
the establishment of TDC's former subsidiary Bite in the Baltic
States and later CEO of TDC Switzerland.

In addition a number of changes will be made in Fixnet Nordic,
TDC's largest business line counting a little less than 6,000
employees.

"Fixnet Nordic is facing considerable challenges in the coming
years for which reason a more flat and dynamic structure is
needed.  We have to be able to provide a far better service to
our customers and we have to speed up our broadband activities,"
Carsten Dilling, president of Fixnet Nordic, said.

Hereafter, there will be seven business lines in Fixnet Nordic,
the managers of which will report to Carsten Dilling directly.
At the same time Jesper Helmuth Larsen is appointed Executive
Vice President and will be in charge of Business Development,
Fixnet Nordic.

Consequently, Residential is split up and Executive Vice
President Gert Rieder will resign his position.

"Gert Rieder has contributed considerably to the development of
TDC.  As a consequence of closing down Residential as a joint
unit, we are, however, no longer able to offer a position that
matches his profile and experience," Mr. Dilling said.

In connection with the changes, also Dan Sorensson, executive
vice president of Networks and Wholesale, has resigned after 36
years with TDC.

The future management of Fixnet Nordic will consist of these
members:

    * Senior Executive Vice President: Carsten Dilling

    * Executive Vice President, Business Development:
      Jesper Helmuth Larsen

    * Market: Jesper Bjerre

    * Sales & Support: Peter Lanng Nielsen

    * Installation: Bo Chamberlain

    * Net: Carsten Dilling (acting)

    * Finance: Jannich Lund

    * HR: Finn Lund Andersen
      (will take on a position at Dansk Supermarked A/S as
       of Oct. 1, 2007)

                         About TDC A/S

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

                            *   *   *

As reported in the TCR-Europe on June 27, 2007, Fitch Ratings
affirmed TDC A/S's Long-term Issuer Default rating at 'BB-' and
TDC's and NTC Holdings' debt, following a detailed review
meeting with management.  The Short-term IDR is affirmed at 'B'.
All the ratings are removed from Rating Watch Negative.
A Stable Outlook is assigned to the Long-term IDR.

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

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

* Issuer: TDC A/S

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

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

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

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

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

   Senior Secured Bank
   Credit Facility          Ba2      Ba2      LGD3    34%

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


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


BOSTON SCIENTIFIC: Settles Guidant Devices Dispute for US$16.75M
----------------------------------------------------------------
Boston Scientific Corporation said in a press statement last
week that three of its subsidiaries, Guidant Corporation,
Cardiac Pacemakers Inc., and Guidant Sales Corporation (nka
Boston Scientific Cardiac Rhythm Management), have reached an
agreement with the Attorneys General of 35 states and the
District of Columbia to settle investigations associated with
Guidant Corporation's Ventak Prizm 2DR Model 1861, Contak
Renewal Model H135 and Contak Renewal 2 Model H155 devices.
Boston Scientific acquired the Guidant entities last year.

Under the terms of the agreement, the three Boston Scientific
subsidiaries will pay a total of US$16.75 million and admit no
liability.  They also agreed to extend the Supplemental Warranty
Program for these devices an additional six months and
reaffirmed their commitment to implement changes recommended by
the Independent Panel commissioned by Guidant in 2005, such as
having a Patient Safety Officer and a Patient Safety Advisory
Board, and making enhancements to product performance
communications.

"Boston Scientific has been working cooperatively with the state
Attorneys General and is pleased to have reached an amicable
agreement," said Jim Tobin, President and Chief Executive
Officer of Boston Scientific.  "This agreement underscores our
commitment to being the industry leader in patient safety and in
communicating with patients and doctors."

Headquartered in Natick, Massachusetts, Boston Scientific
Corporation (NYSE: BSX) -- http://www.bostonscientific.com/--
develops, manufactures and markets medical devices used in a
broad range of interventional medical specialties.  The company
has offices in Argentina, Chile, France, Germany, and Japan,
among others.

                          *     *     *

As reported in the Troubled Company Reporter on Aug. 28, 2007,
Standard & Poor's Ratings Services affirmed its ratings on
Boston Scientific Corp., including the 'BB+' corporate credit
rating.  The ratings, placed on Aug. 3, 2007, remain under
CreditWatch with negative implications.

Earlier, Fitch Ratings downgraded the rating on the company's
'BBB-' Senior Unsecured Notes to 'BB+'.  The Outlook is
Negative.


COMPLETEL SAS: S&P Puts B- Ratings on EUR80 Million Tender Offer
----------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'B-' long-term
corporate credit and senior secured debt ratings on French
alternative telecommunications provider Completel SAS on
CreditWatch with developing implications.

The CreditWatch placement follows the sale of 21% of the capital
of Completel Europe N.V., Completel's parent company, by its
shareholders to Altice B2B France.   The latter is 51% owned by
Altice group and 49% by Cinven, both private equity firms, and
the purchase is a first step to take full control of Completel
over the next few months.

"Altice B2B France's expected full control of Completel's
capital may have various implications for the ratings on
Completel," said Standard & Poor's credit analyst Melvyn Cooke.
"These hinge on Completel's assets and capital structure once
the ownership change is complete."

Altice B2B France has launched a tender offer for Completel's
EUR80 million senior secured notes due 2012, as per the change
of control clause imbedded in the notes' indentures, but
Completel's debt may end up significantly higher than the
current EUR80 million senior secured notes.  These notes have a
recovery rating of '4' indicating our expectation of average
(30%-50%) recovery in the event of a payment default.

"Although Altice B2B France benefits from equity commitments
from its shareholders, it is likely that the group is relying on
financing commitments from banks to fund a substantial part of
approximately EUR740 million price tag for the acquisition,"
said Mr. Cooke.  "As a result, part or all of the acquisition's
financing may be pushed down to the Completel level in the
future to deleverage Altice B2B France's own capital structure."

This scenario may materially affect Completel's capital
structure.

On the upside, S&P may raise the ratings, if Completel remains
debt-free or moderately leveraged following Altice B2B France's
tender offer, or if Completel's business is combined with that
of Numericable, the French cable operator owned by Altice B2B
France.

S&P will continue to actively monitor the situation over the
next few weeks to resolve the CreditWatch once the business and
financial implications of the expected change in Completel's
ownership become clear.


OWENS CORNING: Completes US$371 Mln Sale Deal with Saint-Gobain
---------------------------------------------------------------
Owens Corning has completed the sale of its Siding Solutions
business to Saint-Gobain for US$371 million as of July 17, 2007.
The sale includes the company's Norandex/Reynolds distribution
business with 153 U.S. distribution centers in 38 states.

Three vinyl siding manufacturing facilities in North America
located in Claremont, North Carolina; Joplin, Missouri; and
London, Ontario are also part of the transaction.

"This sale is part of our ongoing strategy to focus on core
businesses that bring value to our customers," Dave Brown,
president and chief executive officer, said.  "This transaction
enhances shareholder value by strengthening Owens Corning's
ability to generate consistent profitable growth across its
portfolio of businesses."

The transaction completes Owens Corning's strategic review of
its Siding Solutions business.

                      About Saint-Gobain SA

Headquartered in Courbevoie, France, Saint-Gobain SA (EPA:SGO)
-- http://www.saint-gobain.com/-- is a producer, processor and
distributor of materials, including glass, ceramics, plastics
and cast iron.  The company has five principal business
activities: the distribution of building materials to
professionals and consumers, which includes the subsidiaries
Lapeyre and Point.P in France and Jewson and Graham in the
United Kingdom; the production of high-performance materials,
such as ceramics, plastics and abrasives; the manufacture of
flat glass, notably for use in the automobile sector; the
production of packaging, including glass jars and bottles for
foodstuffs, pharmaceuticals and beauty products, and the
manufacture of construction products, such as insulation and
pipes.  Saint-Gobain has over 1,000 consolidated companies in
total, and is represented in 49 countries worldwide.

                        About Owens Corning

Headquartered in Toledo, Ohio, Owens Corning fka Owens Corning
(Reorganized) Inc. (NYSE: OC) -- http://www.owenscorning.com/--
is a producer of residential and commercial building materials
and glass fiber reinforcements, and other similar materials for
composite systems.  The company has operations in 26 countries.

The company filed for chapter 11 protection on Oct. 5, 2000
(Bankr. D. Del. Case. No. 00-03837).  Norman L. Pernick, Esq.,
at Saul Ewing LLP, represented the Debtors.  Elihu Inselbuch,
Esq., at Caplin & Drysdale, Chartered, represented the Official
Committee of Asbestos Creditors.  James J. McMonagle served as
the Legal Representative for Future Claimants and wass
represented by Edmund M. Emrich, Esq., at Kaye Scholer LLP.
On Sept. 28, 2006, the Honorable John P. Fullam, Sr., of the
U.S. District Court for the Eastern District of Pennsylvania
affirmed the order of Honorable Judith Fitzgerald of the U.S.
Bankruptcy Court for the District of Delaware confirming Owens
Corning's Sixth Amended Plan of Reorganization.  The Plan took
effect on Oct. 31, 2006, marking the company's emergence from
Chapter 11.

                         *     *     *

Fitch placed Owens Corning's senior unsecured debt and preferred
stock ratings at "D".  The ratings, placed in October 2000,
still hold to date.


PRIDE INTERNATIONAL: Fitch Affirms "BB" Issuer Default Rating
-------------------------------------------------------------
Fitch Ratings affirmed Pride International Inc.'s Issuer Default
Rating at 'BB' in addition to affirming the ratings on Pride's
senior secured revolving credit facility, senior unsecured notes
and their convertible senior notes.  The Rating Outlook is
Stable. Fitch maintains the following ratings for Pride:

-- Issuer Default Rating at 'BB';
-- Senior unsecured at 'BB';
-- Senior secured bank facility at 'BBB-';
-- Senior convertible notes at 'BB'

Pride's ratings reflect the significant improvement the company
has made in reducing debt and capitalizing on the strong
offshore drilling environment to sell non-core assets and
refocus the company as an offshore drilling contractor with a
focus on deepwater assets.  Pride's credit stats reflect these
improvements as well as the strong market conditions for
offshore drilling rigs.

For the last 12 months ending June 30, 2007, Pride generated
US$990.9 million of EBITDA, and free cash flow (cash from
operations less capital expenditures) was US$222.7 million.
Credit metrics were robust with interest coverage of 12x and
debt-to-EBITDA dropping to 1.3x.  Pride has also been successful
in securing a US$5.7 billion revenue backlog, primarily
associated with the company's floating rigs and international
jackup fleet.

The Rating Outlook is currently Stable despite the improving
credit profile for the company.  Fitch views the company's
recent divestitures positively and thinks the company is on-
track for producing additional enhanced protection for
creditors.  However, this generally positive trend is likely to
take considerable time and be marked by periods of additional
leverage as the company works to become a pure offshore drilling
contractor with a deepwater focus.  Key to future rating
decisions will be how Pride decides to re-deploy proceeds from
the recently closed Latin American divestiture, the company's
willingness to pursue additional large, speculative
newbuilds/acquisition opportunities and the company and
industry's ability to digest the large number of newbuild rigs
expected to come to market between 2007 and 2009.

Pride is one of the world's largest drilling contractors and
operates a diverse fleet of primarily offshore rigs.  The fleet
includes two ultra-deepwater drillships, two newbuild deepwater
drillships currently under construction, 12 semisubmersible
rigs, 28 jackup rigs and 16 tender-assisted, barge and platform
rigs, 10 land-based rigs and five managed rigs.  The company
recently closed the divestiture of its fleet of land-based
drilling and workover rigs located in Latin America and its
oilfield services business.  Additionally, Pride has announced
the sale of its three tender assisted rigs.

The company maintains worldwide operations in France, Mexico,
Kazakhstan, India, and Brazil, among others.


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


AGENTUR GASTHAUS: Creditors’ Meeting Slated for October 10
----------------------------------------------------------
The court-appointed insolvency manager for Agentur GastHaus
Einrichtungsgesellschaft mbH, Christoph Rosenmueller will
present his first report on the Company's insolvency proceedings
at a creditors' meeting at 11:55 a.m. on Oct. 10.

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

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

The Court will also verify the claims set out in the insolvency
manager's report at 11:35 a.m. on Jan. 16, 2008 at the same
venue.

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

The insolvency manager can be reached at:

         Christoph Rosenmueller
         Berliner Str. 117
         10713 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Agentur GastHaus Einrichtungsgesellschaft
mbH on Aug. 17.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         Agentur GastHaus Einrichtungsgesellschaft mbH
         Schlossstr. 62
         14059 Berlin
         Germany


AQUA WASSERAUFBEREITER: Creditors Must File Claims by Oct. 10
-------------------------------------------------------------
Creditors of AQUA Wasseraufbereiter GmbH have until Oct. 10 to
register their claims with court-appointed insolvency manager
Stefano Buck.

Creditors and other interested parties are encouraged to attend
the meeting at 1:30 p.m. on Nov. 8, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Villingen-Schwenningen
         Hall 2/2.OG
         Niedere Str. 94
         78050 Villingen-Schwenningen
         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:

         Stefano Buck
         Eisenbahnstr. 40
         78628 Rottweil
         Germany

The District Court of Villingen-Schwenningen opened bankruptcy
proceedings against AQUA Wasseraufbereiter GmbH on Aug. 23.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         AQUA Wasseraufbereiter GmbH
         Heinrich-Hertz-Strasse 28
         78052 Villingen-Schwenningen
         Germany


ASSET MANAGEMENTGESELLSCHAFT: Claims Registration Ends Oct. 15
--------------------------------------------------------------
Creditors of Asset Managementgesellschaft Koeln mbH have until
Oct. 15 to register their claims with court-appointed insolvency
manager Dr. Christoph Niering.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Nov. 21, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Cologne
         Meeting Hall 142
         First Floor
         Luxemburger Strasse 101
         50939 Cologne
         Germany

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

The insolvency manager can be reached at:

         Dr. Christoph Niering
         Brabanter Str. 2
         50674 Cologne
         Germany

The District Court of Cologne opened bankruptcy proceedings
against Asset Managementgesellschaft Koeln mbH on Aug. 20.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Asset Managementgesellschaft Koeln mbH
         Oppenheimstrasse 9
         50668 Cologne
         Germany


AUTOHAUS DESPETAL: Claims Registration Ends November 12
-------------------------------------------------------
Creditors of Autohaus Despetal GmbH have until Nov. 12 to
register their claims with court-appointed insolvency manager
Bernd Wetjen.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Dec. 3, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Hildesheim
         Hall 124
         Main Building
         Kaiserstrasse 60
         31134 Hildesheim
         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:

         Bernd Wetjen
         Alter Markt (Kaiserhaus) 1
         31134 Hildesheim
         Germany
         Tel: 91710
         Fax: 917171

The District Court of Hildesheim opened bankruptcy proceedings
against Autohaus Despetal GmbH on Aug. 23.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Autohaus Despetal GmbH
         Zur Dessel 15
         31028 Gronau
         Germany

         Attn: Alfred Primas, Manager
         Auf dem Graben 16
         31020 Salzhemmendorf
         Germany


BACKMEIER GMBH: Claims Registration Period Ends Oct. 10
-------------------------------------------------------
Creditors of Backmeier GmbH Bauausfuehrungen have until Oct. 10
to register their claims with court-appointed insolvency manager
Gideon Boehm.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 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 Stade
         Hall 113
         Main Building
         Wilhadikirchhof 1
         21682 Stade
         Germany

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

The insolvency manager can be reached at:

         Dr. Gideon Boehm
         Bachstrasse 85 a
         22083 Hamburg
         Germany
         Tel: 040-320836-0
         Fax: 040-32083636
         E-mail: boehm@muenzel-boehm.de

The District Court of Stade opened bankruptcy proceedings
against Backmeier GmbH Bauausfuehrungen on Aug. 20.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Backmeier GmbH Bauausfuehrungen
         Theisbruegger Strasse 1
         21706 Drochtersen
         Germany

         Attn: Frank Backmeier, Manager
         Depenbecker Strasse 112
         21683 Stade
         Germany


BECKER-VERWALTUNGSGESELLSCHAFT: Claims Registration Ends Oct. 16
----------------------------------------------------------------
Creditors of Becker-Verwaltungsgesellschaft mbH have until
Oct. 16 to register their claims with court-appointed insolvency
manager Dr. Lothar Staab.

Creditors and other interested parties are encouraged to attend
the meeting at 1:30 p.m. on Nov. 13, 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 Aschaffenburg
         Meeting Hall 5.103
         Schlossplatz 5
         63739 Aschaffenburg
         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. Lothar Staab
         Wermbachstr. 36-48
         63739 Aschaffenburg
         Germany
         Tel: 06021/448870
         Fax: 06021/4488799

The District Court of Aschaffenburg opened bankruptcy
proceedings against Becker-Verwaltungsgesellschaft mbH on
Aug. 28.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Becker-Verwaltungsgesellschaft mbH
         Kanzleistr. 17-19
         63762 Grossostheim
         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:

         Uwe Hahn
         Scheffelstr. 15
         78224 Singen
         Germany

The District Court of Konstanz opened bankruptcy proceedings
against Breyton GmbH on Aug. 23.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Breyton GmbH
         Bauunternehmung
         Erlenlohweg 7
         78343 Gaienhofen
         Germany


CHRYSLER LLC: Offers to Sell Non-Core Assets in UAW Negotiations
----------------------------------------------------------------
Chrysler LLC has proposed, in its continuing contract talks with
the United Auto Workers union, the shutdown or sale of its Mopar
unit and of Chrysler Transport, the Wall Street Journal reports,
quoting people familiar with the matter.

According to the report, sources have revealed that the UAW
opposes the divestitures.  Mopar makes high-performance and
specialty auto parts while Chrysler Transport manages deliveries
of supplies to Chrysler plants.  Together they employ almost
1,300 workers.

Cerberus Capital Management LP, Chrysler's new owner is bent on
improving cash flow, which in turn has Chrysler looking to win
UAW backing for a number of moves that would cut costs and
improve cash flow immediately, Gina Chon and Jeffrey Mccracken
write for WSJ.  On the other hand, General Motors Corp. and Ford
Motor Company, which are also in talks with the union, are
aiming for long-term cost reductions.

If Chrysler decides to sell or shut down some of its non-core
assets, it intends to relocate the affected workers or find
other ways to ensure that the employees would keep their jobs,
WSJ relates, citing people familiar with the matter as its
source.

                       About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- offers cars and minivans, pick-up
trucks, sport utility vehicles, and vans under the Chrysler,
Jeep, and Dodge brand names.  It also sells parts and
accessories under the MOPAR brand.

The company has dealers worldwide, including Canada, Mexico,
U.S., Germany, France, U.K., Argentina, Brazil, Venezuela,
China, Japan and Australia.

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

                          *    *    *

The TCR-Europe reported on Aug. 8, 2007, that Moody's Investors
Service has affirmed Chrysler Automotive LLC's B3 Corporate
Family Rating, and the Caa1 (LGD4, 66) rating of the company's
US$2 billion senior secured, second lien term loan in connection
with Monday's closing of Daimler Chrysler AG's sale of a
majority interest of Chrysler Group to Cerberus Capital
Management LLC.


FORTE DESIGN: Creditors Must File Claims by October 8
-----------------------------------------------------
Creditors of Forte Design Group Werbeagentur GmbH have until
Oct. 8 to register their claims with court-appointed insolvency
manager Alexander Pfadenhauer.

Creditors and other interested parties are encouraged to attend
the meeting on Nov. 19, at which time the insolvency manager
will present his first report on the insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of 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 Forte Design Group Werbeagentur GmbH on Aug. 24.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Forte Design Group Werbeagentur GmbH
         Erlenstegenstr. 28
         90491 Nuremberg
         Germany


HARTUNG EINRICHTUNGEN: Claims Registration Period Ends Oct. 17
--------------------------------------------------------------
Creditors of Hartung Einrichtungen GmbH have until Oct. 17 to
register their claims with court-appointed insolvency manager
Dr. Dieter Kuehne.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on Nov. 14, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Dr. Dieter Kuehne
         Walter-Koehn-Strasse 1b
         D 04356 Leipzig
         Germany
         Tel: 0341/339890
         Fax: 0341/3398929
         Website: http://www.kuebler-gbr.de/

The District Court of Halle-Saalkreis opened bankruptcy
proceedings against Hartung Einrichtungen GmbH on Aug. 17.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Hartung Einrichtungen GmbH
         Attn: Elke Hartung, Manager
         Hauptstr. 22
         06647 Lossa
         Germany


HORESTA GMBH: Creditors’ Meeting Slated for October 26
------------------------------------------------------
The court-appointed insolvency manager for HORESTA GmbH, Michael
Hawelka will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 10:45 a.m. on
Oct. 26.

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

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

The Court will also verify the claims set out in the insolvency
manager's report at 10:30 a.m. on Jan. 25, 2008 at the same
venue.

Creditors have until Nov. 26 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Michael Hawelka
         Friedrichstr. 204
         10117 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against HORESTA GmbH on Aug. 20.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         HORESTA GmbH
         Marienfelder Allee 132
         12277 Berlin
         Germany


IKB DEUTSCHE: Projects EUR700 Million Loss for Fiscal 2007-2008
---------------------------------------------------------------
Against the background of recent developments at IKB Deutsche
Industriebank AG since July 29, 2007, the bank's Board of
Managing Directors has reviewed and adjusted the bank's business
model, strategy and forecasts to reflect the current conditions
in the capital and money markets.

Focus on core business units

Going forward, IKB’s business model will focus more
substantially on the successful core business units Domestic
Corporate Financing, Leasing and Private Equity, Structured
Financing and Real Estate Financing.  Innovative financing
solutions will remain an integral part of the business model,
while investments in international securities portfolios will
not.  The remaining securities portfolio on the balance sheet
will be restructured.

IKB’s new business model creates a suitable platform for
generating stable future returns, although at a significantly
lower level compared to previous financial years.

Loss under IFRS and HGB

The Board of Managing Directors is convinced that a
comprehensive one-off balance sheet adjustment is required for a
successful fresh start.  The realization of hidden accounting
losses as well as further restructuring measures, which are
necessary to limit market price risks, will significantly impact
the result for the current financial year.

For the financial year 2007/2008 the Board of Managing Directors
currently expects a loss for the Group of approximately EUR600
to EUR700 million (under IFRS) and approximately EUR400 to
EUR450 million for the individual financial statement of IKB AG
(under German GAAP: HGB).  It is expected that IKB’s profit
participation certificates and preferred shares will be
negatively affected by the loss.

Despite continuing challenging conditions in the financial
markets, the bank’s liquidity position for the next six months
is covered without raising new capital market funds, also taking
into account new business activities.

First quarter results

Details of the restructuring and the results for the first
quarter ending June 30, 2007, will be published when the results
of the special audit by PriceWaterhouseCoopers become available.

               About IKB Deutsche Industriebank AG

Headquartered in Dusseldorf, Germany, IKB Deutsche Industriebank
AG -- http://www.ikb.de/-- pioneered the long-term industrial
loan and provides medium-sized companies with long-term
financing.  The bank operates in several German locations, as
well as branches in the United Kingdom, Luxembourg, Spain and
France.

IKB had previously invested in securitized loans on the US
market for subprime mortgages, which are now almost worthless.
This resulted in a deep-seated crisis within the bank, pushing
it on the brink of bankruptcy.

                           *    *    *

The TCR-Europe reported on June 18, 2007, that Fitch Ratings has
assigned the US$11,375,000 tranche 4 loan facility provided by
IKB Deutsche Industriebank AG and IKB International S.A. to
Havenrock II a rating of 'BB-' with a Stable Outlook.


INCERVA GMBH: Creditors Must File Claims by October 12
------------------------------------------------------
Creditors of Incerva GmbH Pharma Engineering have until Oct. 12
to register their claims with court-appointed insolvency manager
Uwe Hahn.

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

The meeting of creditors will be held at:

         The District Court of 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:

         Uwe Hahn
         Scheffelstr. 15
         78224 Singen
         Germany

The District Court of Konztanz opened bankruptcy proceedings
against Incerva GmbH Pharma Engineering on Aug. 23.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Incerva GmbH Pharma Engineering
         Richard-Stocker-Str. 19
         78234 Engen
         Germany


LE SNACK: Claims Registration Period Ends Oct. 10
-------------------------------------------------
Creditors of Le Snack Company GmbH have until Oct. 10 to
register their claims with court-appointed insolvency manager
Benedikt Brautigam.

Creditors and other interested parties are encouraged to attend
the meeting at 11:10 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 Flensburg
         Hall A 220
         Flensburg
         Germany

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

The insolvency manager can be reached at:

         Dr. Benedikt Brautigam
         c/o Lovells
         Schlueterstr. 37
         10629 Berlin
         Germany

The District Court of Flensburg opened bankruptcy proceedings
against Le Snack Company GmbH on Aug. 15.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Le Snack Company GmbH
         Dr.-Todsen-Strasse 7
         24937 Flensburg
         Germany

         Attn: Kim Preben Toft, Manager
         Vorgudvej 20
         2770 Kastrup
         Germany


L.R.S. LKW-REIFEN-SERVICE: Creditors’ Meeting Slated for Oct. 8
---------------------------------------------------------------
The court-appointed insolvency manager for L.R.S. Lkw-Reifen-
Service, Reifenhandels- und Montagedienst- gesellschaft mbH,
Ruediger Wienberg will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 12:15 p.m. on
Oct. 8.

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

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

The Court will also verify the claims set out in the insolvency
manager's report at 11:30 a.m. on Jan. 14, 2008 at the same
venue.

Creditors have until Nov. 19 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Ruediger Wienberg
         Giesebrechtstr. 1
         10629 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against L.R.S. Lkw-Reifen-Service, Reifenhandels-
und Montagedienst- gesellschaft mbH on Aug. 23.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         L.R.S. Lkw-Reifen-Service, Reifenhandels-
         und Montagedienst- gesellschaft mbH
         Streitstrasse 86
         13587 Berlin
         Germany


MCFLIGHT FLUGVERMITTLUNG: Excessive Losses Trigger Insolvency
-------------------------------------------------------------
McFlight Flugvermittlung GmbH has succumbed to insolvency after
20 years in the business amid mounting losses, The Financial
Times relates, citing Handelsblatt as its source.

According to the report, Franz Josef Hansen, the company's
insolvency administrator, explained that the company's equity
was no longer able to offset its losses.

McFlight Flugvermittlung GmbH -- http://www.mcflight.de/-- is a
German air ticket wholesaler.  Prior to its bankruptcy, the
company had focused on business with large customers.


OPTIMAL DENTAL: Claims Registration Ends Oct. 15
------------------------------------------------
Creditors of Optimal Dental GmbH have until Oct. 15 to register
their claims with court-appointed insolvency manager Josef
Nachmann.

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

The meeting of creditors will be held at:

         The District Court of 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:

         Josef Nachmann
         Theatinerstr. 32
         80333 Munich
         Germany
         Tel: 089/24217737
         Fax: 089/24217738

The District Court of Munich opened bankruptcy proceedings
against Optimal Dental GmbH on Aug. 23.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Optimal Dental GmbH
         Tumblinger Str. 2
         80337 Munich
         Germany


PERFECT WASH: Claims Registration Period Ends Oct. 19
-----------------------------------------------------
Creditors of PERFECT WASH & DRIVE Verwaltungs GmbH have until
Oct. 19 to register their claims with court-appointed insolvency
manager Rudolf Rossmann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Nov. 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 Augsburg
         Law Courts
         Meeting Room 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:

         Rudolf Rossmann
         Weisskopfstr. 13
         c/o Kanzlei Gabrielli
         Kaufer u Koll.
         86343 Koenigsbrunn
         Germany

The District Court of Augsburg opened bankruptcy proceedings
against PERFECT WASH & DRIVE Verwaltungs GmbH on Aug. 21.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         PERFECT WASH & DRIVE Verwaltungs GmbH
         Attn: Manfred Foerg, Manager
         Emmeramstr. 7
         86368 Gersthofen
         Germany


POBURSKI DACHTECHNIK: Claims Registration Period Ends Oct. 17
-------------------------------------------------------------
Creditors of Poburski Dachtechnik GmbH Frankfurt have until
Oct. 17 to register their claims with court-appointed insolvency
manager Dr. Holger Lessing.

Creditors and other interested parties are encouraged to attend
the meeting at 9:25 a.m. on Nov. 28, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Frankfurt/Main
         Hall 2
         Building F
         Klingerstrasse 20
         60313 Frankfurt/Main
         Germany

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

The insolvency manager can be reached at:

         Dr. Holger Lessing
         Hanauer Landstrasse 287-289
         D 60314 Frankfurt/Main
         Germany
         Tel: 069/15051300
         Fax: 069/15051400

The District Court of Frankfurt/Main opened bankruptcy
proceedings against Poburski Dachtechnik GmbH Frankfurt on
Aug. 24.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Poburski Dachtechnik GmbH Frankfurt
         Friesstr. 16
         60388 Frankfurt/Main
         Germany


SCHNITT E. GMBH: Creditors Must Register Claims by September 24
---------------------------------------------------------------
Creditors of Schnitt E. GmbH have until Sept. 24 to register
their claims with court-appointed insolvency manager Martin
Mucha.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 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 Esslingen
         Hall 1
         Ground Floor
         Ritterstr.5
         Esslingen
         Germany

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

The insolvency manager can be reached at:

         Martin Mucha
         Humboldtstr. 16
         70178 Stuttgart
         Germany
         Tel: 0711/96689-51
         Fax: 0711/96689-49

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

The Debtor can be reached at:

         Schnitt E. GmbH
         Attn: Peggy Musuly, Manager
         Marktstr. 7
         73207 Plochingen
         Germany


SEAMAN SPORT: Claims Registration Period Ends Oct. 19
-----------------------------------------------------
Creditors of SEAMAN Sport- und Eventmarketing GmbH have until
Oct. 19 to register their claims with court-appointed insolvency
manager Markus Luedtke.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on Nov. 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Hamburg
         Hall B 405
         Fourth Floor Annex
         Civil Justice Bldg.
         Sievkingplatz 1
         20355 Hamburg
         Germany

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

The insolvency manager can be reached at:

         Markus Luedtke
         Raboisen 38
         20095 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against SEAMAN Sport- und Eventmarketing GmbH on Aug. 23.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         SEAMAN Sport- und Eventmarketing GmbH
         Attn: Markus Salzmann, Manager
         Poststrasse 14 -16
         20354 Hamburg
         Germany


SOLA FACILITY: Claims Registration Ends Oct. 16
-----------------------------------------------
Creditors of SOLA Facility Management GmbH have until Oct. 16 to
register their claims with court-appointed insolvency manager
Heiko Rautmann.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Nov. 12, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Magdeburg
         Hall D
         Insolvency Department
         Liebknechtstrasse 65-91
         39110 Magdeburg
         Germany

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

The insolvency manager can be reached at:

         Heiko Rautmann
         Editharing 31
         39108 Magdeburg
         Germany
         Tel: 0391/5066030
         Fax: 0391/5066033
         E-Mail: Heiko.Rautmann@gmx.de

The District Court of Magdeburg opened bankruptcy proceedings
against SOLA Facility Management GmbH on Aug. 24.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         SOLA Facility Management GmbH
         Goethestr. 25
         39108 Magdeburg
         Germany


TREOFAN GERMANY: S&P Holds B- Rating on EUR170 Million Notes
------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on
Germany-based flexible packaging producer Treofan Holdings GmbH
and its operating subsidiary Treofan Germany GmbH & Co. KG to
negative from positive, owing to its weakening liquidity.  At
the same time, the 'B-' long-term corporate credit ratings on
both entities were affirmed.  The 'B-' issue rating on Treofan
Germany's EUR170 million subordinated second-lien notes, with a
recovery rating of '3', was also affirmed.

"The outlook revision reflects our concerns about the company's
weakening operating performance and liquidity position, which
has led management to seek further covenant amendments," said
Standard & Poor's credit analyst Izabela Listowska.

Treofan's operating performance and cash flow generation has
deteriorated over the past few quarters.  High resin prices
coupled with the challenging pricing environment have made it
unable to pass on raw-material price inflation.  Increased fixed
costs and unfavorable foreign exchange rate developments have
also more than offset volume growth.

In the six months to June 30, 2007, adjusted EBITDA declined to
EUR15.4 million from EUR19.5 million in the same period of the
previous year, resulting in weaker credit measures.  In the 12
months to June 30, 2007, pension- and operating lease-adjusted
cash debt to adjusted EBITDA was about 7x.

"It appears that Treofan will not generate free cash flow in
2007, as previously expected, due to its heavy capital spending
related to capacity expansion in Mexico and regular maintenance,
which additionally burdens liquidity," said Ms. Listowska.

The company had total reported debt of EUR197.5 million at
June 30, 2007.


TREOFAN HOLDINGS: S&P Affirms B- Ratings on Liquidity Concerns
--------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on
Germany-based flexible packaging producer Treofan Holdings GmbH
and its operating subsidiary Treofan Germany GmbH & Co. KG to
negative from positive, owing to its weakening liquidity.  At
the same time, the 'B-' long-term corporate credit ratings on
both entities were affirmed.  The 'B-' issue rating on Treofan
Germany's EUR170 million subordinated second-lien notes, with a
recovery rating of '3', was also affirmed.

"The outlook revision reflects our concerns about the company's
weakening operating performance and liquidity position, which
has led management to seek further covenant amendments," said
Standard & Poor's credit analyst Izabela Listowska.

Treofan's operating performance and cash flow generation has
deteriorated over the past few quarters.  High resin prices
coupled with the challenging pricing environment have made it
unable to pass on raw-material price inflation.  Increased fixed
costs and unfavorable foreign exchange rate developments have
also more than offset volume growth.

In the six months to June 30, 2007, adjusted EBITDA declined to
EUR15.4 million from EUR19.5 million in the same period of the
previous year, resulting in weaker credit measures.  In the 12
months to June 30, 2007, pension- and operating lease-adjusted
cash debt to adjusted EBITDA was about 7x.

"It appears that Treofan will not generate free cash flow in
2007, as previously expected, due to its heavy capital spending
related to capacity expansion in Mexico and regular maintenance,
which additionally burdens liquidity," said Ms. Listowska.

The company had total reported debt of EUR197.5 million at
June 30, 2007.


TRIMAG BAUGESELLSCHAFT: Claims Registration Ends September 21
-------------------------------------------------------------
Creditors of Trimag Baugesellschaft mbH have until Sept. 21 to
register their claims with court-appointed insolvency manager
Henning Jung.

Creditors and other interested parties are encouraged to attend
the meeting on Oct. 19, at which time the insolvency manager
will present his first report on the insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Braunschweig
         E 01
         Martinikirche 8
         38100 Braunschweig
         Germany

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

The insolvency manager can be reached at:

         Henning Jung
         Albert-Schweitzer-Strasse 55
         38226 Salzgitter
         Germany
         Tel: 05341-86609-00
         Fax: 05341-86609-08
         E-mail: H.Jung@leonhardt-westhelle.eu

The District Court of Braunschweig opened bankruptcy proceedings
against Trimag Baugesellschaft mbH on Aug. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Trimag Baugesellschaft mbH
         Koenigstieg 6
         38118 Braunschweig
         Germany

         Attn: Claus-Peter Koerner, Manager
         Engeroder Strasse 90
         38259 Salzgitter
         Germany


TRUMF DEUTSCHLAND: Claims Registration Ends September 27
--------------------------------------------------------
Creditors of TRUMF Deutschland GmbH have until Sept. 27 to
register their claims with court-appointed insolvency manager
Klaus Knetter.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 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 Bielefeld
         Hall 4065
         Fourth Floor
         Gerichtstrasse 66
         33602 Bielefeld
         Germany

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

The insolvency manager can be reached at:

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

The District Court of Bielefeld opened bankruptcy proceedings
against TRUMF Deutschland GmbH on Aug. 14.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         TRUMF Deutschland GmbH
         Attn: Dietmar Richert, Manager
         Stargarder Str. 50
         33699 Bielefeld
         Germany


TUI AG: TUI Travel Begins Trading on the London Stock Exchange
--------------------------------------------------------------
The merger of First Choice Holidays PLC and the Tourism Division
of TUI AG has been successfully completed.  As a result, First
Choice Holidays PLC's listing was canceled at 8:00 a.m. on
Monday, September 3, 2007, and the ordinary shares of the new
combined group, TUI Travel PLC, have been admitted to the
Official List of the U.K. Listing Authority and to trading on
the London Stock Exchange's market for listed securities.

As at Sept. 3, 2007, TUI Travel PLC has 1,118 million shares in
issue and will trade under the ticker symbol TT.L

As previously disclosed, a detailed review of all the businesses
will be undertaken over the coming months to help the Group
identify enhanced opportunities in the businesses and to build
on its stated strategy.  In addition, cost efficiencies
identified will be actioned during this period and beyond.  It
is the Group's intention to present the results of the review in
January 2008.

"The creation of TUI Travel PLC, one of the world's leading
leisure travel companies, represents real growth opportunities
for us as a Group.  Not only will our shareholders benefit from
efficiencies but we are also well positioned to deliver strong
organic and acquisition led growth," Peter Long, chief executive
TUI Travel PLC, said.

"TUI Travel has tremendous opportunities ahead of it.  We will
bring together some of the best known brands in leisure travel
coupled with excellent management expertise.  TUI Travel will be
actively shaping the future of the tourism business,"
Dr. Michael Frenzel, chairman of TUI Travel PLC, added.

                            About TUI

Headquartered in Hanover, Germany, TUI AG --
http://www.tui-group.com/-- engages in the tourism and
shipping sectors.   The Company's core activities are in the
tourism business, focusing mainly on the markets of Central,
Northern and Western Europe.  TUI AG's shipping and logistics
activities are contained within its Hapag-Lloyd Container Linie
GmbH and CP Ships Ltd. subsidiaries.

                         *     *     *

As reported in the TCR-Europe on Aug. 21, 2007,  Moody's
Investors Service placed the B1 Corporate Family Rating
for TUI Aktiengesellschaft on review for possible downgrade.

At the same time, the senior unsecured debt ratings are lowered
to B2 from B1, and left on review for possible downgrade.  The
ratings of the unsecured notes were originally placed on review
for possible downgrade on March 20, 2007, following the
announcement of the planned merger between TUI's tourism
division and First Choice PLC.

In a TCR-Europe report on July 27, 2007, Standard & Poor's
Ratings Services lowered its ratings on the senior unsecured
issues of Germany-based tourism and shipping group TUI AG to 'B'
from 'B+' and removed them from CreditWatch, where they were
originally placed with negative implications on March 19, 2007.

This follows the approval of the merger of its tourism business
with U.K. travel operator First Choice Holidays PLC to TUI
Travel PLC by antitrust authorities and First Choice
shareholders, resulting in increased structural subordination of
the group's senior unsecured indebtedness.  At the same time,
Standard & Poor's affirmed the 'BB-' long-term corporate credit
rating on TUI.  S&P said the outlook is negative.


URSULA BARTH: Claims Registration Period Ends Oct. 9
----------------------------------------------------
Creditors of Ursula Barth GmbH have until Oct. 9 to register
their claims with court-appointed insolvency manager Gideon
Boehm.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on Nov. 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 Reinbek
         Parkallee 6
         21465 Reinbek
         Germany

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

The insolvency manager can be reached at:

         Dr. Gideon Boehm
         Bachstr. 85 a
         22083 Hamburg
         Germany

The District Court of Reinbek opened bankruptcy proceedings
against Ursula Barth GmbH on Aug. 21.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Ursula Barth GmbH
         Bundesstr. 21
         23869 Elmenhorst
         Germany


W & G WOHN: Claims Registration Period Ends Oct. 9
--------------------------------------------------
Creditors of W & G Wohn & Grund GmbH have until Oct. 9 to
register their claims with court-appointed insolvency manager
Hans-Peter Burghardt.

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

The meeting of creditors will be held at:

         The District Court of Bielefeld
         Hall 4065
         Fourth Floor
         Gerichtstrasse 66
         33602 Bielefeld
         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:

         Hans-Peter Burghardt
         Bunsenstr. 3
         32052 Herford
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against W & G Wohn & Grund GmbH on Aug. 21.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         W & G Wohn & Grund GmbH
         Attn: Wolfgang Diekmann, Manager
         Gartenstr. 1
         32049 Herford
         Germany


YORKSHIRE GASTRONOMIE: Claims Registration Ends September 28
------------------------------------------------------------
Creditors of Yorkshire Gastronomie GmbH have until Sept. 28 to
register their claims with court-appointed insolvency manager
Frank Imberger.

Creditors and other interested parties are encouraged to attend
the meeting 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 Bochum
         Hall A27
         Ground Floor
         Main Building
         Viktoriastrasse 14
         44787 Bochum
         Germany

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

The insolvency manager can be reached at:

         Frank Imberger
         Huestrasse 34
         44787 Bochum
         Germany

The District Court of Bochum opened bankruptcy proceedings
against Yorkshire Gastronomie GmbH on Aug. 15.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Yorkshire Gastronomie GmbH
         Viktoriastrl 66 - 70
         44787 Bochum
         Germany

         Attn: Andrew David Hugh Sugars, Manager
         Auf dem Alten Kamp 17
         44803 Bochum
         Germany


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


ALITALIA SPA: Posts EUR1.05 Bln Group Debt as of July 31, 2007
--------------------------------------------------------------
Alitalia Group’s net debt as of July 31, 2007, amounted to
EUR1.05 billion, showing an increase in net indebtedness of
EUR16 million (+1.5%) compared to the situation on June 30,
2007.

The net debt of the parent company Alitalia including short-term
net financial credits for subsidiaries on July 31, 2007,
amounted to EUR1.031 billion increasing EUR13 million (+1.3%)
compared to net debt as of June 30, 2007.

The Group’s cash-to-hand and short-term financial credits as of
July 31, 2007, at the Group level and for Alitalia, amounted to
EUR592 million and EUR618 million respectively.

It should be noted that as of July 31, 2007, there were several
leasing contracts at the Group level (referring almost entirely
to fleet aircraft mostly held by the parent company amounting to
EUR87 million) whose capital share, including lease closure
value, amounted to EUR100 million (of which EUR13 million
represent the current capital share falling due within 12 months
of the reference date, with EUR10 million held by the parent
company).

By comparison, the same figure as of June 30, 2007, amounted
to EUR102 million (of which EUR13 million falling due in the
twelve months from the reference date); the corresponding
figures for the parent company on June 30, 2007, amounted to
EUR88 and EUR10 million respectively.

It should also be noted that existing debts to banks are almost
entirely backed up by real guarantees (mortgages on aircraft) or
by personal guarantees (mainly guarantees issued by banks for
export credit).  The relative financing contracts contain
standard legal clauses relating to withdrawal. None of the
contracts refer to specific requirements regarding assets or
economic/financial aspects, in order to maintain the credit
line.

During July 2007, repayments were made of medium/long-term
financing amounting to about EUR3.5 million.

Regarding debts of a financial, fiscal and social welfare
nature, there were no outstanding sums or payment irregularities
on July 31, 2007, both for the parent company and for the other
companies in the Group.

As far as debts of a commercial nature are concerned, there were
no outstanding sums or payment irregularities on July 31, 2007,
both for the parent company and for other Group companies,
except for those relating to disputed situations.

Regarding the latter, there were outstanding sums owed to one
airport management company for disputed debts amounting to a
total of 82 million as of July 31, 2007. Regarding that, it
should be pointed that during June 2007, it has been formalized
a transaction agreement, under implementation, which settled the
dispute.

In addition, regardless of the mentioned transaction agreement,
the decisions are still pending for the petitions filed by
Alitalia regarding:

   -- an injunction related to supposed different pricing
      policies has been issued by a carrier for EUR2.6 million;

   -- an other injunction has been issued by supplier of on-
      board movies by approximately EUR909,000;

   -- a further injunction has been issued by an IT services
      supplier for about EUR812,000;

   -- an injunction has been issued by an Italian subsidiary of
      an air carrier Bankruptcy for EUR288,000; and

   -- there are injunctions issued by suppliers for a total of
      around EUR425,000 (14 decrees).

There are no other injunction orders or executive actions
undertaken by creditors notified as of July 31, 2007, nor are
there any threats by suppliers to suspend operations.

                          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.


AVAGO TECHNOLOGIES: Posts US$167 Million Net Loss in Third Qtr.
---------------------------------------------------------------
Avago Technologies reported its financial results for the third
fiscal quarter ended July 31, 2007.

Net revenue of US$387 million was essentially even with the
previous quarter.  Consistent with the seasonal trends in its
served markets, higher revenue in the consumer and computer
peripherals areas was countered by weaker demand in the
industrial, automotive, and enterprise infrastructure segments.

Cash balances increased by US$13 million to US$213 million at
the end of July, supported by US$56 million generated from
operations, partially offset by the payment of US$27 million for
Infineon's Polymer Optical Fiber business, the disbursement of
US$43 million for the semi-annual interest obligations, and the
repurchase of US$6 million of the Company's Senior Notes.

   * Third Quarter 2007 GAAP Results

Resulting from an evaluation of the company's remaining
manufacturing operations, an analysis was performed on the
recoverability of the carrying value of these assets.  Based on
this review, it was determined that a US$158 million write-down
was necessary to bring carrying values of certain assets in line
with fair market valuations.  In addition, US$11 million of
restructuring charges were recorded in connection with
reductions of approximately 15% of the workforce due to the
expanded outsourcing of back-end activities.

Including the above mentioned impairment and restructuring
charges, third quarter net loss was US$167 million.  Gross
margin was negatively impacted by US$148 million related to
these charges with the remaining US$21 million included in total
operating expenses of US$126 million.

   * Third Quarter 2007 Non-GAAP Results

Operating margin of 14% of sales was essentially flat with the
previous quarter.  Gross margin of US$152 million was 30 basis
points below the second quarter and exceeded 39% of sales.
Operating expenses of US$97 million remained unchanged quarter-
over-quarter at 25% of revenue.

A US$3 million decrease in other income combined with a US$3
million increase in income tax expense resulted in non-GAAP net
income of US$27 million versus US$33 million last quarter.
Adjusted EBITDA was US$84 million compared with US$88 million in
the prior quarter.

"Over the last two quarters we have delivered solid operational
results during a challenging period in the semiconductor
industry," said Hock E. Tan, president and CEO of Avago
Technologies.  "In July, we successfully completed the purchase
of Infineon"s Polymer Optical Fiber business, increasing our
presence in the growing auto infotainment market.  We will
continue to drive both organic development as well as pursue
strategic acquisitions in our efforts to accelerate revenue
growth going forward."

   * Non-GAAP Financial Measures

In addition to GAAP reporting, Avago reports net income or loss,
as well as gross margin and operating expenses, on a non-GAAP
basis.  This non-GAAP earnings information excludes stock-based
compensation expense, amortization of intangibles and unusual
items and their related tax effects.  In addition, we also
disclose Adjusted EBITDA as measured by our principal debt
instruments.  Avago believes this non-GAAP earnings information
provides additional insight into the Company's on-going
performance and has therefore chosen to provide this information
to investors for a more consistent basis of comparison and to
emphasize the results of on-going operations.  These historical
non-GAAP measures are in addition to, and not a substitute for,
or superior to, measures of financial performance prepared in
accordance with GAAP.

As of July 31, 2007, the company's balance sheet reflects total
assets of US$1.9 million, total liabilities of US$1.2 million,
and shareholders' equity of US$686,000.

                        About Avago Tech

Headquartered both in San Jose, CA, and in Singapore, Avago
Technologies Holdings Pte. Ltd. -- http://www.avagotech.com/--
is a semiconductor company, with approximately 6,500 employees
worldwide.  Avago provides an extensive range of analog, mixed-
signal and optoelectronic components and subsystems to more than
40,000 customers.  The company's products serve four end
markets: industrial and automotive, wired networking, wireless
communications, and computer peripherals.

Worldwide Design, Manufacturing and Marketing Centers in the
United States, Italy, Germany, Singapore, Korea, China, Japan
and Malaysia.

Avago Technologies is the successor to the Semiconductor
Products Group of Agilent.  Avago Technologies purchased the
business of SPG as of December 1, 2005, for US$2.6 billion in
cash.

                         *     *     *

As the Troubled Company Reporter reported on November 7, 2005,
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Avago Technologies Holdings Pte. Ltd.  The
outlook is positive.  At the same time, Avago's proposed US$975
million first-lien senior secured bank facility was rated 'B+'
with a recovery rating of '1', indicating a high expectation for
full recovery of principal in the event of a payment default.
Avago Technologies Finance Pte Ltd. And Luxembourg Finance Co.
are borrowers under the loan.  In addition, Standard & Poor's
assigned its 'B' rating to Avago's proposed US$375 million of
senior unsecured notes and US$375 million of senior unsecured
floating-rate notes.  Lastly, Avago's proposed US$250 million of
senior subordinated notes were assigned a 'CCC+' rating.  Avago
Technologies Finance Pte Ltd., Avago Technologies U.S. Inc., and
Avago Technologies Wireless Manufacturing Inc. are co-issuers of
the notes.


TISCALI SPA: Shareholders Approve EUR220 Mln Capital Increase
-------------------------------------------------------------
The extraordinary Shareholders’ meeting of Tiscali S.p.A.
empowered the Board of Directors by Dec. 31, 2008, a capital
increase for a maximum of EUR220 million, thus increasing the
maximum amount of EUR200 million originally proposed by the
Board of Directors.

The capital increase may be carried out in one or more tranches
through the issuance of ordinary shares to be offered in pre-
emption to shareholders and ranking pari passu with the
currently traded ones.

The capital increase could alternatively be used to service, in
whole or in part, a convertible loan through the issuance of
bonds convertible in ordinary share of the Company, ranking pari
passu with the currently traded ones, to be offered in pre-
emption to shareholders.

The Board of Directors will establish each time the conditions
as well as the number of shares to be issued and the issue
price.  The Board of Directors will also establish the possible
destination of the capital increase to service bond conversion
as well as the terms and conditions of the convertible bonds.

This resolution provides the Company with a flexible tool to
obtain from the market new equity to be utilized for the
optimization of the financing related to the acquisition of the
broadband and voice division of Pipex Communications Plc.

The new funding might also be deployed to pursue further
development and expansion opportunities with a view of
accelerating the implementation of the 2007-2010 business plan,
approved by the Company in October 2006, and aimed at the
creation of value.

After the acquisition of Homechoice, followed in the U.K. by the
launch of the new IPTV service, Tiscali TV (to be launched also
in Italy by the end of the year), the Company announced other
important agreements such as the above mentioned acquisition of
Pipex in U.K. and the signing in Italy of an agreement with
Telecom Italia that will allow Tiscali to become a Mobile
Virtual Network Operator, offering mobile and integrated
telecommunication services to its customers.

                         About Tiscali

Headquartered in Cagliari, Italy, Tiscali S.p.A. --
http://www.tiscali.com/-- offers Internet access in the
country.  The group also operates in other European countries,
serving more than seven million subscribers, of which over 1.5
million are broadband users.

As reported in the TCR-Europe on March 22, 2007, the company
registered EUR136.16 million in net losses on EUR678.48 million
in net revenues for the full year ended Dec. 31, 2006, compared
with EUR12.81 million net losses on EUR530.85 billion in
revenues for full year 2005.

As reported in the TCR-Europe on Oct. 13, 2006, Tiscali's Board
of Directors approved a three-year plan for 2007-2010, which
calls for the concentration of its core business in Italy and in
the United Kingdom.

                           *   *   *

As reported in the TCR-Europe on June 27, 2007, Fitch Ratings
has upgraded Italy-based Tiscali S.p.A.'s Long-term Issuer
Default rating to 'B-' from 'CCC' and removed it from Rating
Watch Positive.  Fitch said a stable outlook is assigned.


TK ALUMINUM: Inks Purchase Agreement with Bavariaring
-----------------------------------------------------
Teksid Luxembourg S.a r.l., S.C.A., entered into a purchase
agreement to sell its equity interests in TK Aluminum France
S.A.S. and Teksid Deutschland GmbH to Bavariaring 0906 GmbH, an
affiliate of Bavaria Industriekapital AG.  TK Aluminum France
S.A.S. is the parent of Teksid France S.A.S., Fonderie du Poitou
Aluminium S.A.S., Fonderie Aluminium Cleon S.A.S. and
Metaltemple S.A.S. and as a result of the transactions
contemplated by the Purchase Agreement, such subsidiaries would
be indirectly sold to Bavariaring.

Teksid Aluminum Luxembourg, a subsidiary of TK Aluminum Ltd.,
signed the agreement on Aug. 20, 2007.

The parties have not disclosed the financial terms of the
Purchase Agreement at this time. Pursuant to the Purchase
Agreement and subject to certain conditions, Bavariaring will
share operational control of the acquired companies in the
period prior to the closing of the transactions contemplated by
the Purchase Agreement.

The Purchase Agreement is subject to termination by Teksid
Luxembourg in the event the Supervisory Board of Bavaria AG does
not authorize and approve certain aspects of the transactions
contemplated by the Purchase Agreement on or before
Sept. 15, 2007.  The Purchase Agreement is also subject to
certain conditions to closing, including receipt by Teksid
Luxembourg of consent of at least a majority in principal amount
of Teksid Luxembourg's 11-3/8 Senior Notes and may be terminated
by Teksid Luxembourg in the event such consent is not received.

There can be no assurance that the Bavaria AG Supervisory Board
will authorize and approve certain aspects of the transactions
contemplated by the Purchase Agreement on or before
Sept. 15, 2007, that Teksid Luxembourg will not terminate the
Purchase Agreement in the event that the Bavaria AG Supervisory
Board does not authorize and approve such aspects of the
transactions on or before Sept. 15, 2007, that the conditions to
the Purchase Agreement will be satisfied or that the sale of the
acquired companies contemplated thereby will be consummated.

                   About Teksid Aluminum

Teksid Aluminum -- http://www.teksidaluminum.com/--
manufactures aluminum engine castings for the automotive
industry.  Principal products include cylinder heads, engine
blocks, transmission housings, and suspension components.  The
company operates 15 manufacturing facilities in Europe, North
America, South America, and Asia.  The company maintains
operations in Italy, Brazil, and China.

                       *     *     *

As reported on May 9, 2007, Moody's Investors Service confirmed
the Caa3 Corporate Family Rating of Teksid Aluminum Ltd as well
as the Ca rating of the company's senior notes at Teksid
Aluminum Luxembourg Sarl SCA with a stable outlook.

It also lowered its long-term debt rating on the EUR240 million
senior unsecured notes issued by Teksid Aluminum Luxembourg
S.a.r.l., S.C.A. and guaranteed by TKA to 'D' from 'C'.


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


AUTOKOR TRADING: Proof of Claim Deadline Slated for Oct. 5
----------------------------------------------------------
LLP Autokor Trading has declared insolvency.  Creditors have
until Oct. 5 to submit written proofs of claims to:

         LLP Autokor Trading
         Abai Str. 181/3
         Ust-Kamenogorsk
         East Kazakhstan
         Kazakhstan


JANA GASYR: Creditors Must File Claims Oct. 5
---------------------------------------------
The Specialized Inter-Regional Economic Court of Kyzylorda has
declared LLP Jana Gasyr (RNN 330500003056) insolvent on July 31.

Creditors have until Oct. 5 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Kyzylorda
         Third Floor
         Aiteke bi Str. 29
         Kyzylorda
         Kazakhstan


SELDOM-2003 LLP: Claims Filing Period Ends Oct. 5
-------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty has
declared LLP Company Seldom-2003 insolvent on June 29.

Creditors have until Oct. 5 to submit written proofs of claims
to:


         Post Office Box 1
         JSC Kazpochta
         Post Office 57
         050057, Almaty
         Kazakhstan
         Tel: 8 (3272) 37-03-31


LI CHUEN 1: Creditors' Claims Due on Oct. 5
-------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty has
declared LLP Li Chuen 1 insolvent.

Creditors have until Oct. 5 to submit written proofs of claims
to:


         Post Office Box 1
         JSC Kazpochta
         Post Office 57
         050057, Almaty
         Kazakhstan
         Tel: 8 (3272) 37-03-31


TRIA FINANCE: Claims Registration Ends Oct. 5
---------------------------------------------
LLP Microcredit Organization - Tria Finance has declared
insolvency.  Creditors have until Oct. 5 to submit written
proofs of claims to:

         LLP Microcredit Organization - Tria Finance
         Drozda Str. 9
         Kamenka
         Karasaisky District
         Almaty
         Kazakhstan


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


MEGA-TOUR LTD: Creditors Must File Claims by October 3
------------------------------------------------------
LLC Mega-Tour Ltd. (INN 02208200110073) has declared insolvency.
Creditors have until Oct. 3 to submit written proofs of claim
to:

         LLC Mega-Tour Ltd.
         Kurmanjan Datka Str. 180
         Osh
         Kyrgyzstan


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


AGILENT TECHNOLOGIES: Closes NetworkFab Acquisition
---------------------------------------------------
Agilent Technologies Inc. has completed the acquisition of
NetworkFab Corp., a privately held designer and builder of
advanced signal intelligence, communications and jammer systems
for the U.S. military, intelligence agencies and law enforcement
groups.  Financial details were not disclosed.

The acquisition of NetworkFab enables Agilent to expand its
presence in operational environments to support U.S. government
prime contractors.  Agilent has a long history of market
leadership in the test and measurement industry, including
aerospace/defense.

NetworkFab's core competencies are in radio frequency
communications, including direction finding, jamming, antenna
design, networking, software design and custom systems
engineering.

Agilent Technologies Inc. (NYSE: A) -- http://www.agilent.com/
-- is the world's premier measurement company and a technology
leader in communications, electronics, life sciences and
chemical analysis.  The company's 19,000 employees serve
customers in more than 110 countries.

The company has operations in India, Argentina, Puerto Rico,
Bolivia, Paraguay, Venezuela, and Luxembourg, among others.

                       *     *     *

Agilent Technologies Inc. carries Moody's Investors Service
'Ba1' corporate family rating.


TK ALUMINUM: Inks Purchase Agreement with Bavariaring
-----------------------------------------------------
Teksid Luxembourg S.a r.l., S.C.A., entered into a purchase
agreement to sell its equity interests in TK Aluminum France
S.A.S. and Teksid Deutschland GmbH to Bavariaring 0906 GmbH, an
affiliate of Bavaria Industriekapital AG.  TK Aluminum France
S.A.S. is the parent of Teksid France S.A.S., Fonderie du Poitou
Aluminium S.A.S., Fonderie Aluminium Cleon S.A.S. and
Metaltemple S.A.S. and as a result of the transactions
contemplated by the Purchase Agreement, such subsidiaries would
be indirectly sold to Bavariaring.

Teksid Aluminum Luxembourg, a subsidiary of TK Aluminum Ltd.,
signed the agreement on Aug. 20, 2007.

The parties have not disclosed the financial terms of the
Purchase Agreement at this time. Pursuant to the Purchase
Agreement and subject to certain conditions, Bavariaring will
share operational control of the acquired companies in the
period prior to the closing of the transactions contemplated by
the Purchase Agreement.

The Purchase Agreement is subject to termination by Teksid
Luxembourg in the event the Supervisory Board of Bavaria AG does
not authorize and approve certain aspects of the transactions
contemplated by the Purchase Agreement on or before
Sept. 15, 2007.  The Purchase Agreement is also subject to
certain conditions to closing, including receipt by Teksid
Luxembourg of consent of at least a majority in principal amount
of Teksid Luxembourg's 11-3/8 Senior Notes and may be terminated
by Teksid Luxembourg in the event such consent is not received.

There can be no assurance that the Bavaria AG Supervisory Board
will authorize and approve certain aspects of the transactions
contemplated by the Purchase Agreement on or before
Sept. 15, 2007, that Teksid Luxembourg will not terminate the
Purchase Agreement in the event that the Bavaria AG Supervisory
Board does not authorize and approve such aspects of the
transactions on or before Sept. 15, 2007, that the conditions to
the Purchase Agreement will be satisfied or that the sale of the
acquired companies contemplated thereby will be consummated.

                   About Teksid Aluminum

Teksid Aluminum -- http://www.teksidaluminum.com/--
manufactures aluminum engine castings for the automotive
industry.  Principal products include cylinder heads, engine
blocks, transmission housings, and suspension components.  The
company operates 15 manufacturing facilities in Europe, North
America, South America, and Asia.  The company maintains
operations in Italy, Brazil, and China.

                       *     *     *

As reported on May 9, 2007, Moody's Investors Service confirmed
the Caa3 Corporate Family Rating of Teksid Aluminum Ltd as well
as the Ca rating of the company's senior notes at Teksid
Aluminum Luxembourg Sarl SCA with a stable outlook.

It also lowered its long-term debt rating on the EUR240 million
senior unsecured notes issued by Teksid Aluminum Luxembourg
S.a.r.l., S.C.A. and guaranteed by TKA to 'D' from 'C'.


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


AMSTEL SECURITISATION: Moody's Rates EUR70M Class E Notes at Ba2
----------------------------------------------------------------
Moody's Investors Service affirmed these definitive credit
ratings to the notes issued by Amstel Securitisation of
Contingent Obligations 2006-1 B.V.:

   -- Aaa to the EUR447,000,000 Class A+1 Credit-Linked Floating
      Rate Notes due 2016,

   -- Aaa to the USD4,733,000,000 Class A+2 Credit-Linked
      Floating Rate Notes due 2016;

   -- Aaa to the EUR518,000,000 Class A Credit-Linked Floating
      Rate Notes due 2016;

   -- Aa2 to the EUR70,000,000 Class B Credit-Linked Floating
      Rate Notes due 2016;

   -- A2 to the EUR35,000,000 Class C Credit-Linked Floating
      Rate Notes due 2016;

   -- Baa2 to the EUR49,000,000 Class D Credit-Linked Floating
      Rate Notes due 2016; and

   -- Ba2 to the EUR70,000,000 Class E Credit-Linked Floating
      Rate Notes due 2016.

Moody's did not rate the EUR98,000,000 Class F Credit-Linked
Floating Rate Notes due 2016 issued by ASCO 1.

This affirmation action follows the issuance of the below
further notes on June 20 2007 by ASCO1:

   -- EUR152,000,000 Class A+1 Credit-Linked Floating Rate Notes
      due 2016;

   -- US$1,715,000,000 Class A+2 Credit-Linked Floating Rate
      Notes due 2016.

The ratings address the expected loss posed to investors by the
legal final maturity.  These ratings address only the credit
risks associated with the transaction.  Other non-credit risks
have not been addressed, but may have a significant effect on
yield to investors.


GETRONICS NV: Royal KPN Takeover Offer Making Good Progress
-----------------------------------------------------------
Royal KPN N.V. and Getronics N.V. confirmed they are making good
progress with preparations for the announced recommended public
offer for all the issued and outstanding ordinary shares in the
capital of Getronics at an offer price of EUR6.25 in cash per
Share, inclusive of any dividend payable for the financial year
2007.

KPN intends to make offers for all of the issued and outstanding
senior notes convertible into ordinary shares in the capital of
Getronics, as well as for the cumulative preference shares
issued by Getronics.

The intended all-cash offer prices are:

   -- EUR1,040 (plus accrued interest) per EUR1,000 in
      principal amounts of the EUR100,000,000 5.5% listed
      unsubordinated convertible bonds due 2008,

   -- EUR50,500 (plus unsubordinated convertible bonds due 2008,

   -- EUR50,500 (plus accrued interest) per EUR50,000 in
      principal amounts of the EUR150,000,000 2.75% listed
      senior unsecured convertible bonds due 2010 and

   -- EUR52,500 (plus accrued interest) per EUR50,000 in
      principal amounts of the EUR 95,050,000 3.875% listed
      senior unsecured convertible bonds due 2014.

The commencement of the offers is subject to the satisfaction or
waiver of certain pre-offer conditions as set out in the joint
public announcement dated July 30, 2007.  Both KPN and the Dutch
division of Getronics (Getronics PinkRoccade) have received a
positive advice from their works councils with regard to the
intended offers.

KPN currently holds 29.9% of the Shares (representing 23.1% of
the total issued share capital of Getronics), which it has
acquired in ordinary stock exchange trading after the initial
announcement of the intended offers on July 30 2007.

With reference to article 9g paragraph 1 sub a of the Dutch
Decree on the Supervision of the Securities Trade 1995 (Besluit
toezicht effectenverkeer 1995), KPN expects the offer
memorandum, containing the terms and conditions of the offers,
to be made publicly available in the first half of September
2007.

                         About Getronics

Headquartered in Amsterdam, Netherlands, Getronics N.V.
-- http://www.getronics.com/-- designs, integrates and manages
ICT infrastructures and business solutions for many of the
world's largest global and local companies and organizations,
helping them maximize the value of their information technology
investments.  Getronics has some 27,000 employees in over 30
countries and approximate revenues of EUR3 billion.   The
company has regional offices in Boston, Madrid and Singapore.
Its shares are traded on Euronext Amsterdam.

                          *     *     *

As reported in the TCR-Europe on Aug. 1, 2007, Moody's Investors
Service placed the B2 corporate family rating of Getronics N.V.
on review for possible upgrade.  These rating actions follow the
announcement that KPN intends to make a recommended cash offer
of EUR766 million for Getronics subject to certain conditions
precedent.


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


DRESSER-RAND: Amends US$500MM Secured Revolving Credit Facility
---------------------------------------------------------------
Dresser-Rand Group Inc. amended its Senior Secured Credit
Facility.  The amended credit facility is a five year,
US$500 million senior secured revolving credit facility.  The
amendment increases the size of the facility by US$150 million,
lowers borrowing costs 50 basis points to LIBOR plus 150 basis
points at present leverage and extends the maturity date from
Oct. 29, 2011, to Aug. 30, 2012.

"We are pleased with the increased size, added flexibility and
lower costs provided by this amended facility", Robert J.
Saltarelli, Dresser-Rand's vice president and treasurer, said.
"Although we have no present expectation of increasing debt, a
larger facility gives us more flexibility to execute our
business plan."

The amendment also reduces the commitment fee from 37.5 basis
points to 30 basis points.  At June 30, 2007, there were
US$202.5 million of Letters of Credit outstanding under the
facility.

Citigroup Global Markets Inc., J.P. Morgan Securities Inc., and
UBS Securities LLC served as Joint Lead Arrangers.

Headquartered in Houston,  Texas, Dresser-Rand Group Inc.
(NYSE:DRC) -- http://www.dresser-rand.com/--  is engaged in the
design, manufacture, sale and servicing of turbo and
reciprocating compressors, gas and steam turbines, gas expanders
and associated control panels.  The company is a supplier of
rotating equipment solutions to the oil, gas, petrochemical and
process industries.  The company's services and products are
used for a range of applications, including oil and gas
production, high-pressure field injection and enhanced oil
recovery, pipelines, refinery processes, natural gas processing
and petrochemical production.

Dresser-Rand has operations in France, Germany, Norway, and
India.

                        *      *      *

Moody's Investor Services placed Dresser-Rand Group Inc.'s
probability of default and long term corporate family ratings at
"Ba3" in September 2005.  The outlook is stable.  The ratings
hold to date.


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


NETIA SA: Third Avenue Management LLC Holds 20.54% Stake
--------------------------------------------------------
Netia SA has received on Aug. 29, 2007 a notification filed on
behalf of Third Avenue Management LLC that ownership of Netia’s
shares, held by Third Avenue Management on behalf of its
clients, has increased above the threshold of 20% of the total
number of votes at Netia’s General Meeting of Shareholders.

According to the notification, as a result of the settlement of
purchases of Netia shares effected on the Warsaw Stock Exchange
from July 26 to Aug. 28, 2007, as of the notification’s date
Third Avenue Management holds 79,955,192 Netia shares,
representing 20.54% of Netia’s share capital and entitling the
holder thereof to exercise 79,955,192 votes, which represents
20.54% of the total number of votes at Netia’s General Meeting
of Shareholders.

Prior to the transactions mentioned, Third Avenue Management
held 77,619,479 Netia shares, which represented 19.94% of
Netia’s share capital, and was entitled to 77,619,479 votes,
representing 19.94% of the total number of votes at Netia’s
General Shareholder Meeting.

                           About Netia

Headquartered in Warsaw, Poland, Netia S.A. -- http://netia.pl/
-- is an alternative fixed-line telecommunications operator in
Poland.  Netia provides a broad range of telecommunications
services, including voice, data and network wholesale services.

                          *     *    *

As of Aug. 15, 2007, Standard & Poor's Ratings Services had
assigned a B rating to Netia’s Long-Term Foreign and Local
Issuer Credit.


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


FORD MOTOR: Romanian Gov't Blocks Claims Against Craiova plant
--------------------------------------------------------------
Ford Motor Company experienced a breakthrough in its efforts to
acquire Romania's 51 percent stake in the Craiova automobile
assembly plant after the Romanian government agreed to pass
legislation that would prevent creditors from seeking claims
against the plant following its privatization, Business Eastern
Europe relates.

According to the report, creditors won't be able to pursue the
plant's liabilities, including the US$800 million debt owed by
the car plant to the state budget, as well as third-party claims
relating to the car plant's former owner, bankrupt car maker
Daewoo (South Korea).

Ford's negotiations with the state hit a standstill following
the car maker's initial bid for the Craiova plant after Ford
refused to honor past debts of the car plant and said that it
wants to clarify its obligations for Daewoo warranties, Business
Eastern Europe states.

The TCR-Europe reported on July 24, 2007, that Ford plans to
develop the Craiova manufacturing plant in Romania into one of
the major facilities supporting Ford of Europe's vehicle and
engine production requirements.  If the company's bid is
successful, the company would commit to investing EUR675 million
in the site to upgrade and modernize the plant in line with
global Ford Motor Company standards.  Ford's plans also include
increasing employment levels from 3,900 now to 7,000 -- and
potentially up to 9,000.

Ford has issued this statement in response to the recent
developments in the deal: “We are very pleased that the Romanian
government has reached this stage after much hard work, and we
look forward to engaging further with them in the next phase.

“We have already declared our interest in the Craiova facility
on several occasions.  Following today's signing of the
financial agreement between the Romanian and South Korean
institutions, we can confirm that we are definitely interested
in acquiring the facility.  Therefore, we will continue to
develop our business plan, and be prepared to pursue due
diligence when the government begins the privatization process.

“Until a final decision is made on the privatization and buyer,
however, we will refrain from further comment.”

                      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.


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


AGRO-TEKH LLC: Creditors Must File Claims by October 11
-------------------------------------------------------
Creditors of LLC Agro-Tekh (TIN 3123122741) have until Oct. 11
to submit proofs of claim to:

         Y. Berestovoj
         Insolvency Manager
         Post User Box 118
         308000 Belgorod
         Russia

The Arbitration Court of Belgorod commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A08-1055/07-24 B.

The Court is located at:

         The Arbitration Court of Belgorod
         Narodnyj Avenue 135
         308600 Belgorod
         Russia

The Debtor can be reached at:

         LLC Agro-Tekh
         Studencheskaya Str. 30
         308023 Belgorod
         Russia


ALABUGINSKOE CJSC: Creditors Must File Claims by Sept. 11
---------------------------------------------------------
Creditors of CJSC Alabuginskoe have until Sept. 11 to submit
proofs of claim to:

         G. Taran
         Temporary Insolvency Manager
         Nikitina Str. 114/6
         630039 Novosibirsk
         Russia

The Arbitration Court of Novosibirsk commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. A-45-6969/07-29/27.

The Court is located at:

         The Arbitration Court of Novosibirsk
         Kirova Str. 3
         630007 Novosibirsk
         Russia

The Debtor can be reached at:

         CJSC Alabuginskoe
         Alabuga
         Kargatskiy
         632432 Novosibirsk
         Russia


ATOM-KOMLEKT-POSTAVKA: Creditors Must File Claims by Sept. 11
-------------------------------------------------------------
Creditors of CJSC Atom-Komlekt-Postavka (TIN 7705449312, OGRN
1027700222637) have until Sept. 11 to submit proofs of claim to:

         S. Kovalenko
         Temporary Insolvency Manager
         Post User Box 24
         125171 Moscow
         Russia

The Arbitration Court of Moscow will convene on Nov. 13 to hear
the company's bankruptcy supervision procedure.  The case is
docketed under Case No. A40-28596/07-95-98 B.

The Court is located at:

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

The Debtor can be reached at:

         CJSC Atom-Komlekt-Postavka
         Building 3
         M. Ordynka 35
         115184 Moscow
         Russia


BEL-AGRO-STAN: Creditors Must File Claims by October 11
-------------------------------------------------------
Creditors of OJSC Bel-Agro-Stan (TIN 3123056231) have until
Oct. 11 to submit proofs of claim to:

         Y. Berestovoj
         Insolvency Manager
         Post User Box 118
         308000 Belgorod
         Russia

The Arbitration Court of Belgorod commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A29-3806/2007.

The Court is located at:

         The Arbitration Court of Belgorod
         Narodnyj Avenue 135
         308600 Belgorod
         Russia

The Debtor can be reached at:

         OJSC Bel-Agro-Stan
         Slavy Pr. 43
         308600 Belgorod
         Russia


BEKETOVSKOE OJSC: Court Names P. Naumenko as Insolvency Manager
---------------------------------------------------------------
The Arbitration Court of Kursk appointed P. Naumenko as
Insolvency Manager for OJSC Beketovskoe.  He can be reached at:

         P. Naumenko
         Office 304
         K. Marksa Str. 62
         305029 Kursk
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A35-8179/03 g.

The Court is located at:

         The Arbitration Court of Kursk
         K. Marksa Str. 25
         305004 Kursk
         Russia

The Debtor can be reached at:

         OJSC Beketovskoe
         Beketovo
         Gorshechenskiy
         Kursk
         Russia


CHOICE-XXI LLC: Court Starts Bankruptcy Supervision Procedure
-------------------------------------------------------------
The Arbitration Court of Sverdlovsk commenced bankruptcy
supervision procedure on LLC Choice-XXI.  The case is docketed
under Case No. A60-5034/07-S11.

The Temporary Insolvency Manager is:

         E. Chu
         Posadskaya Str. 21-105
         620086 Ekaterinburg
         Russia

The Court is located at:

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

The Debtor can be reached at:

         LLC Choice-XXI
         Rozy Lyuksemburg Str. 59
         320026 Ekaterinburg
         Russia


EASTERN OIL-LOADING: Court Names E. Ugolnikova to Manage Assets
---------------------------------------------------------------
The Arbitration Court of Primorye appointed E. Ugolnikova as
Insolvency Manager for CJSC Eastern Oil-Loading Terminal.  She
can be reached at:

         E. Ugolnikova
         Post User Box 8/35
         Central Office
         680000 Khabarovsk
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A51-4827/2007-15-96 B.

The Debtor can be reached at:

         CJSC Eastern Oil-Loading Terminal
         Makarova Str. 19
         692929 Nakhdka
         Russia


INTER-TRADE-GROUP: Creditors Must File Claims by Sept. 11
---------------------------------------------------------
Creditors of CJSC Inter-Trade-Group have until Sept. 11 to
submit proofs of claim to:

         N. Ovchinnikova
         Insolvency Manager
         Office 314
         Komsomolskaya Str. 84 A
         Tolyatti
         450009 Samara
         Russia

The Arbitration Court of Samara commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A55-6439/2007 3.

The Debtor can be reached at:

         CJSC Inter-Trade-Group
         Sovetskaya Str. 48 B
         Russkaya Borkovka
         Stavropol
         Samara
         Russia


IVAKINSKIY WOOD-PROM-KHOZ: Court Starts Bankruptcy Supervision
--------------------------------------------------------------
The Arbitration Court of Perm commenced bankruptcy supervision
procedure on CJSC Ivakinskiy Wood-Prom-Khoz.  The case is
docketed under Case No. A50-2511/2007-B.

The Temporary Insolvency Manager is:

         V. Sorokin
         Lenina Pr. 61-115
         Berezniki
         618400 Perm
         Russia

The Court is located at:

         The Arbitration Court of Perm
         Lunacharskogo Str. 3
         Perm
         Russia

The Debtor can be reached at:

         CJSC Ivakinskiy Wood-Prom-Khoz
         Sovetskaya Str. 20
         V-Vilva
         Aleksandrovsk
         618320 Perm
         Russia


JUNIOR-98 CJSC: Creditors Must File Claims by October 11
--------------------------------------------------------
Creditors of CJSC Junior-98 have until Oct. 11 to submit proofs
of claim to:

         V. Gorbunov
         Insolvency Manager
         Gaya Str. 23a
         460000 Orenburg
         Russia
         Tel/Fax: (3532) 78-38-44

The Arbitration Court of Orenburg commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A47-1934/2007-14 GK.

The Court is located at:

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

The Debtor can be reached at:

         CJSC Junior-98
         Sennaya Str. 3, 1
         460021 Orenburg
         Russia


KARELIAN PINE: Creditors Must File Claims by October 11
-------------------------------------------------------
Creditors of LLC Karelian Pine have until Oct. 11 to submit
proofs of claim to:

         S. Semenov
         Insolvency Manager
         Building 29
         Drevlyanka Str. 12
         Petrozavodsk
         185014 Kareliya
         Russia

The Arbitration Court of Kareliya commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A26-322/2007.

The Debtor can be reached at:

         LLC Karelian Pine
         Post User Box 37
         Sovetskaya Str. 16
         Kostromuksha
         186930 Kareliya
         Russia


LIPKOVSKIY BAKERY: Bidding Deadline Slated for Sept. 11
-------------------------------------------------------
The insolvency manager and bidding organizer for LLC Lipkovskiy
Bakery, will set for a repeated auction for the company's
properties at 11:00 a.m. on Sept. 18 at:

         The Insolvency Manager and Bidding Organizer
         Office 406
         Mendeleevskaya Str. 1
         Tula
         Russia

The company has set a RUR70,794,700 starting price for the
auctioned assets.

Interested participants have until Sept. 11 to deposit an amount
equivalent to 5% of the starting price to:

         Tulskiy OSB 86 04 in Tula
         Settlement Account 4070281026617012069
         Correspondent Account 30101810300000000609
         BIK 047003608
         TIN 7128002565

Bidding documents must be submitted to:

         The Insolvency Manager and Bidding Organizer
         Office 406
         Mendeleevskaya Str. 1
         Tula
         Russia

The Debtor can be reached at:

         LLC Lipkovskiy Bakery
         Zheleznodorozhnaya Str. 1-a
         Lipki
         Kireevskiy
         Tula
         Russia


LIVIYA-SERVICE: Moscow Bankruptcy Hearing Slated for Nov. 1
-----------------------------------------------------------
The Arbitration Court of Moscow will convene on Nov. 1 to hear
the bankruptcy supervision procedure on LLC Liviya-Service.
The case is docketed under Case No. A41-K-2-10790/07.

The Temporary Insolvency Manager is:

         L. Koptelina
         Orlovskiy Per. 5
         129110 Moscow
         Russia

The Court is located at:

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

The Debtor can be reached at:

         LLC Liviya-Service
         Office 33
         Mira Str. 7
         Klin
         Moscow
         Russia


MAGNITOGORSK IRON: Shareholders Decide on MMK-Kapital Merger
------------------------------------------------------------
OJSC Magnitogorsk Iron &Steel Works held its extraordinary
shareholders' meeting on Aug. 30, 2007 in the form of absentee
voting.

The meeting took decisions on:

   (i) payments of dividends on placed ordinary registered
       shares of OJSC MMK for the first half of 2007 in the
       amount of RUR0.418 per share (inclusive of tax) which
       corresponds to the recommendations of the Board of
       Directors;

  (ii) approval of a major transaction regarding the signing of
       a 10-year contract for the supply of iron ore materials
       between OJSC MMK and ENRC Marketing, Switzerland; and

(iii) reorganization of OJSC MMK in the form of the merger of
       MMK-Kapital into OJSC MMK.

ZAO MMK Kapital is a 100% subsidiary of OJSC MMK.  At the same
time ZAO MMK Kapital owns 498,495,023 registered ordinary shares
of OJSC MMK, which represents 4.27% of OJSC MMK's authorized
capital.

The issue of MMK-Kapital's merger into OJSC MMK was considered
at the meeting as part of the MMK Group's structure
reorganization and optimization program.  The decision taken by
the shareholders will allow to avoid cross shareholding and
enhance the transparency of OJSC MMK's equity structure.

On completion of the reorganization procedure all the shares
held by MMK-Kapital will be cancelled.  Following the approval
by the Board of Directors of the Report on the shares'
cancellation the number of OJSC MMK's placed shares will
comprise 11,174,330,000 registered ordinary shares, with the
company's charter to be amended accordingly.  This change of the
authorized capital will result in the proportional increase of
the weight of share packages owned by OJSC MMK shareholders.

                          About Magnitogorsk Iron

Headquartered in Magnitogorsk, Russia, OJSC Magnitogorsk Iron
and Steel Works -- http://www.mmk.ru/-- manufactures steel and
accounts for about 20% of all steel products sold on the
domestic market.  MMK is a major fully integrated steel making
complex encompassing all the required processes, from
preparation of iron ore materials to high added value processing
of steel.  About half of the Company's output is exported
worldwide.

                          *     *     *

In a TCR-Europe report on April 27, 2007, Moody's Investor's
Service upgraded to Ba2 from Ba3 the corporate family rating for
Magnitogorsk Iron and Steel Works as well as the rating on the
company's guaranteed medium term notes issued by MMK Finance
S.A.

Moody's said the outlook for both ratings is stable.  The
Moody's Interfax Rating Agency has upgraded the national scale
rating for MMK to Aa2.ru from Aa3.ru.

As a result of the implementation of the Loss Given Default and
Probability of Default rating methodology in April 2007, Moody's
has assigned a PDR of Ba2 to MMK.  The Ba2 Corporate Family
Rating, which is at the same level as the PDR, reflects the
assumption of a family-wide LGD rate of 50%.

The US$300 million guaranteed senior unsecured medium term
notes, issued by MMK Finance SA, are also rated at Ba2 (Loss
Given Default Assessment LGD4, 50%), at the same level as the
Corporate Family Rating, reflecting the benefit of a senior
guarantee from the operating company MMK which positions the
notes at the same level as the approx. US$600 million bank loans
and US$572 million trade claims of MMK, based on nine months
2006 results.

Magnitogorsk Iron carries BB Issuer Default and senior unsecured
ratings from Fitch Ratings.  The Outlook on the Issuer Default
rating is Stable.

The company also carries a BB Issuer Rating from Standard and
Poor's.


PROM-STROY-CONTRACT: Creditors Must File Claims by Sept. 11
-----------------------------------------------------------
Creditors of CJSC Prom-Stroy-Contract have until Sept. 11 to
submit proofs of claim to:

         E. Trushkov
         Temporary Insolvency Manager
         Post User Box 300
         630102 Novosibirsk
         Russia

The Arbitration Court of Kemerovo will convene at 10:45 a.m. on
Nov. 21 to hear the company's bankruptcy supervision procedure.
The case is docketed under Case No. A27-4135/2007-4.

The Court is located at:

         The Arbitration Court of Kemerovo
         Krasnaya Str. 8
         Kemerovo
         Russia

The Debtor can be reached at:

         CJSC Prom-Stroy-Contract
         Ordzhonikidze Str. 35
         654007 Novokuznetsk
         Russia


SEVERSTAL OAO: Board Recommends RUR10 Per Share Dividend
--------------------------------------------------------
OAO Severstal's Board of Directors has recommended a dividend of
RUR10 per share and per global depositary receipt for the half
year of 2007 with the record date of Aug. 20, 2007.  Each GDR
represents one share in the company.

Approval of the dividend payment is expected at the company's
Extraordinary General Meeting on Sept. 28, 2007.

                        About Severstal

Headquartered in Cherepovets, Russia, OAO Severstal --
http://www.severstal.com/-- is the country's largest steel
producer, with steel production of 17.1 million tons in 2005.
The Company owns Severstal North America, the fifth largest
integrated steel maker in the U.S. with 2005 production of 2.7
million tons, and Lucchini, Italy's second largest steel group
with 2005 production of 3.5 million tons.  Severstal is one of
the world's lowest cost and most profitable steel producers,
with 2005 EBITDA per ton of around EUR150 per ton.

                            *   *   *

As reported in the TCR-Europe on July 10, 2007, Moody's
Investor's Service upgraded the Corporate Family Rating for OAO
Severstal from Ba3 to Ba2.

Moody's also upgraded rating for the Loan Participation Notes
totaling US$700 million from B1 to Ba2.  The outlook on all
ratings is stable.

In a TCR-Europe report on April 24, 2007, Fitch Ratings revised
the Outlooks on OAO Severstal's Issuer Default and National
Long-term ratings to Positive from Stable.  In addition, Fitch
has affirmed Severstal's ratings at Issuer Default 'BB-', senior
unsecured 'BB-', Short-term 'B' and National Long-term 'A+'.

As of Feb. 1, 2007, Severstal carries BB- Long-term Foreign
Issuer Credit and Long-term Local Issuer Credit ratings from
Standard & Poor's with a stable outlook.


STROY-AUTO-SERVICE: Creditors Must File Claims by October 11
------------------------------------------------------------
Creditors of CJSC Stroy-Auto-Service have until Oct. 11 to
submit proofs of claim to:

         V. Stavtsev
         Insolvency Manager
         Office 49
         Gorkogo Str. 45
         302040 Orel
         Russia

The Arbitration Court of Orel commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A48-638/07-16b.

The Court is located at:

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

The Debtor can be reached at:

         CJSC Stroy-Auto-Service
         Bazovaya Str. 6
         302020 Orel
         Russia


VIMPEL-COMMUNICATIONS: Earns US$359.3 Mln in Second Quarter 2007
----------------------------------------------------------------
OJSC Vimpel-Communications released unaudited financial and
operating results for the quarter and six months ended June 30,
2007.

             Financial and Operating Highlights

    * Net operating revenues reached a record high US$1.7
      billion in the second quarter, a year-on-year increase of
      53.1% and a quarter-on-quarter increase of 15.4%.

    * OIBDA reached a record high US$896.8 million, a year-on-
      year increase of 59.7% and a quarter-on-quarter increase
      of 17%.

    * OIBDA margin reached 52.2%, including 53.4% in Russia and
      53.7% in Kazakhstan.

    * Net income totaled a record high US$359.3 million, a
      year-on-year increase of 84.3%.

    * Operating cash flow reached a record high US$695.6
      million, a year-on-year increase of 61.7%.

    * MOU and ARPU grew sequentially in all markets, including
      12.8% ARPU growth in Russia.

At June 30, 2007, VimpelCom’s unaudited condensed consolidated
balance sheet showed US$9.2 billion in total assets, US$4.9
billion in total liabilities and US$4.3 billion in shareholders’
equity.

The company’s June 30 balance sheet also showed strained
liquidity with US$1.7 billion in total current assets available
to pay US$1.9 billion in total liabilities coming due within the
next 12 months.

"It was another very strong quarter for VimpelCom," Alexander
Izosimov, chief executive officer of VimpelCom, said.  "The
company achieved all-time records in key financial parameters:
revenue, OIBDA, net income and operating cash flow.  The
strength of our business was further supported by growth of
operating parameters, including ARPU and MOU simultaneously in
all the markets where we operate.  This further validates our
belief in the high growth potential of the CIS which is becoming
an increasingly important part of our business."

"We are also pleased to note that our OIBDA grew at a remarkable
pace of almost 60% year-on-year.  Moreover, the fact that our
OIBDA grew faster than revenues illustrates that we continue to
gain efficiency," Mr. Izosimov added.

                         About VimpelCom

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

                            *   *   *

In a TCR-Europe report on April 16, 2007, Moody's Investors
Service confirmed its Ba2 Corporate Family Rating for OJSC
Vimpel-Communication and assigned a Ba2 Probability-of-Default
rating to the company.

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

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

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

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

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


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


BP GERUSTBAU: Creditors' Liquidation Claims Due September 10
------------------------------------------------------------
Creditors of LLC BP Gerustbau have until Sept. 10 to submit
their claims to:

         Vida Peric
         Liquidator
         Obere Durrmuhlestrasse 23
         4704 Niederbipp
         Wangen BE
         Switzerland

The Debtor can be reached at:

         LLC BP Gerustbau
         Niederbipp
         Wangen BE
         Switzerland


CONSEED JSC: Creditors' Liquidation Claims Due September 10
-----------------------------------------------------------
Creditors of JSC Conseed have until Sept. 10 to submit their
claims to:

         Treuhand und Steuerberatung Stefan Irniger
         Liquidator
         Kochsmattstrasse 15
         5445 Eggenwil
         Bremgarten AG
         Switzerland

The Debtor can be reached at:

         JSC Conseed
         Altdorf UR
         Switzerland


EUROLEC JSC: Creditors' Liquidation Claims Due September 10
-----------------------------------------------------------
Creditors of JSC Eurolec have until Sept. 10 to submit their
claims to:

         Gianni Azzan
         Liquidator
         Welbrigring 42
         8954 Geroldswil
         Dietikon ZH
         Switzerland

The Debtor can be reached at:

         JSC Eurolec
         Geroldswil
         Dietikon ZH
         Switzerland


GOLD KEBAB: Creditors' Liquidation Claims Due September 10
----------------------------------------------------------
Creditors of LLC Gold Kebab Produktion have until Sept. 10 to
submit their claims to:

         Batuk Arzu
         Liquidator
         Kastanienweg 4B
         4542 Luterbach
         Wasseramt SO
         Switzerland

The Debtor can be reached at:

         LLC Gold Kebab Produktion
         Rumlang
         Dielsdorf ZH
         Switzerland


GRANU – TEC LLC: Claims Registration Period Ends September 10
-------------------------------------------------------------
The Bankruptcy Court of Aargaucommenced bankruptcy proceedings
against LLC Granu - Tec on July 16.

Creditors have until Sept. 10 to file their written proofs of
claim.

The Bankruptcy Service of Aargau can be reached at:

         Bankruptcy Service of Aargau
         Office Brugg
         5201 Brugg AG
         Switzerland

The Debtor can be reached at:

         LLC Granu - Tec
         Bahnhofstrasse 235
         5325 Leibstadt
         Zurzach AG
         Switzerland


IFB INTERNATIONAL: Creditors' Liquidation Claims Due Sept. 10
-------------------------------------------------------------
Creditors of JSC IFB International Food & Beverage have until
Sept. 10 to submit their claims to:

         Andreas Wettstein
         Liquidator
         Ziegelweg 2
         6052 Hergiswil NW
         Switzerland

The Debtor can be reached at:

         JSC IFB International Food & Beverage
         Hergiswil NW
         Switzerland


PCI INFORMATIK: Claims Registration Period Ends September 10
------------------------------------------------------------
The Bankruptcy Court of Schaffhausen commenced bankruptcy
proceedings against JSC PCI Informatik on June 8.

Creditors have until Sept. 10 to file their written proofs of
claim.

The Bankruptcy Service of Schaffhausen can be reached at:

         Bankruptcy Service of Schaffhausen
         8201 Schaffhausen
         Switzerland

The Debtor can be reached at:

         JSC PCI Informatik
         Tobelackerstrasse 4
         8212 Neuhausen am Rheinfall SH
         Switzerland


R. SCHAAD: Zurich Court Closes Bankruptcy Proceedings
-----------------------------------------------------
The Bankruptcy Service of Pfaffikon in Zurich entered Aug. 2 an
order closing the bankruptcy proceedings of LLC R. Schaad
Lebensmittel.

The Bankruptcy Service of Pfaffikon can be reached at:

         Bankruptcy Service of Pfaffikon
         8330 Pfaffikon ZH
         Switzerland

The Debtor can be reached at:

         LLC R. Schaad Lebensmittel
         Russikerstrasse 12
         8320 Fehraltorf
         Pfaffikon ZH
         Switzerland


WASTEPOWER ADVANCE: Zug Court Closes Bankruptcy Proceedings
-----------------------------------------------------------
The Bankruptcy Service of Zug entered July 31 an order closing
the bankruptcy proceedings of JSC Wastepower Advance.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6301 Zug
         Switzerland

The Debtor can be reached at:

         JSC Wastepower Advance
         Terrassenweg 17
         6315 Oberageri ZG
         Switzerland


ZALAFIN HOLDING: Creditors' Liquidation Claims Due September 10
---------------------------------------------------------------
Creditors of JSC Zalafin Holding have until Sept. 10 to submit
their claims to:

         JSC Advisor Treuhand
         Liquidator
         Albisstrasse 33
         8134 Adliswil
         Horgen ZH
         Switzerland

The Debtor can be reached at:

         JSC Zalafin Holding
         Zug
         Switzerland


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


DOGAN YAYIN: Fitch Lifts IDR to BB- on Operational Performance
--------------------------------------------------------------
Fitch Ratings has upgraded Turkey-based Dogan Yayin Holding's
Long-term local and foreign currency Issuer Default ratings to
'BB-' from 'B+'.  Following the upgrade, the Outlooks are now
Stable.  DYH had no debt issues outstanding as of September
2007.

The upgrade reflects DYH's respectable 2006 operational
performance, due mainly to improved results in the broadcasting
segment, sustained growth (13% yoy growth at fiscal year 2006)
in domestic advertising spending and healthy cash balances at
the holding company level.  DYH's creditworthiness is driven by
its healthy cash balance, the credit quality of its main
operating subsidiary, Hurriyet, and issues of structural
subordination to creditors at the operating company level.

Fitch expects DYH to carry the proceeds from the 25% stake sale
of Dogan TV on its stand-alone balance sheet and to continue to
de-leverage in the short-term.  Fitch notes that the company has
been highly acquisitive in the last 24 months, but does not
factor in any major cash outflows in the mid-term relating to
expansion.  If DYH uses the cash from Axel Springer for
dividends or any further acquisitions, increasing leverage will
have immediate negative implications for the rating.  This will
in turn drag Hurriyet's ratings down because of the
parent/subsidiary linkage.

The ratings incorporate DYH's dominance in the ad market (with
almost 41.6% of total ad revenues versus its closest competitor,
Sabah Group's 18%) and earnings diversification across all ad
mediums; mainly publishing and broadcasting.  Fitch foresees
more competition in broadcasting mainly in the long-term in
light of the potential privatization of Sabah Group.  The
ratings also reflect Fitch's continued concern about the
company's reliance on cyclical ad revenues.

The ratings also take into consideration the benefits that the
Star TV acquisition has provided to the DYH group, with an
overall ad market share in TV of 37% at fiscal year 2006.
Broadcasting EBITDA was up at US$39 million at fiscal year 2006
with EBITDA margin expanding to 9.9% in FY06 from 5.4% in FY05,
as cost-cutting measures and economies of scale with the
integration of Star TV started to take effect.

Cash outflows for new investments, such as the introduction of
new thematic channels, Kanal D Romania and the new digital
platform D-SMART, continue to depress operating margins.  Fitch
would like to see more evidence that stronger operational
performance is sustainable in the long-term.

As of May 2007, DYH had no debt at the holding company level,
but US$305 million cash after the sale of the 25% stake in Dogan
TV to Axel Springer.  However, DYH's net consolidated debt is
still high at US$600 million based on management accounts,
mainly due to the TME acquisition by Hurriyet in first quarter
of 2007 and Star TV acquisition in 2005.  As of May 2007, a
total of US$382.4 million in debt (38.2% of total group debt)
was reflected on the balance sheets of companies within the
broadcasting segment; mainly Dogan TV Holding, (US$215.5
million), DTV Haber (US$51.2 million) and Isil TV (US$115.7
million), the entity that acquired Star TV in second half of of
2005. DYH's net consolidated leverage-to-EBITDA stayed flat at
2.5x as at May 2007 as a result of the TME transaction. Fitch
notes that DYH provided guarantees for Hurriyet's recent
syndication facility to acquire TME.  The agency expects DYH to
de-leverage aggressively in the medium term to a targeted
consolidated net debt/EBITDA of 2x in the next 12 months.

As a holding company, DYH depends on dividend flows, service
income and capital gains.  Fitch's ratings reflect the dividend
flow from only Hurriyet, Dogan Gazetecilik and Dogan Burda
Rizzoli.  Hurriyet did not pay dividends in 2007 due to the TME
transaction, but Fitch understands that the company will resume
dividend payout in 2008, which will strengthen DYH's cash
position on a stand-alone basis.  Dogan TV is not expected by
Fitch to make a contribution to dividend flows before 2010 as it
will be paying down the debt stemming from the Star TV
acquisition.

DYH is owned by Dogan Sirketler Grubu A.S (63.02% equity and
63.02% voting interests), which is the holding company of Aydin
Dogan, and his family.  The Dogan Family and AD Foundation own
3%.  The rest of DYH shares are floated.


HURRIYET: Cash Flow Generation Cues Fitch’s BB Ratings
------------------------------------------------------
Fitch Ratings has affirmed Turkey-based newspaper group
Hurriyet's Long-term foreign and local currency Issuer Default
ratings at 'BB'.  Both ratings have Stable Outlooks.  The agency
has also affirmed Hurriyet's National Long-term rating at
'AA(tur)' with Stable Outlook.  Hurriyet had no debt issues
outstanding as of September 2007.

The ratings reflect Hurriyet's capacity to generate strong
operating cash flow and a boost to regional growth prospects in
Russia, the CIS and Eastern Europe following its recent TME
acquisition.  Approximately 40% of the Hurriyet group's overall
revenues and EBITDA are expected to be derived from outside
Turkey in 2007.

"Under Fitch's new 'Parent and Subsidiary Rating Linkage'
Criteria Report, the current ratings (one notch difference
between the IDRs of the holding company DYH and operating
subsidiary Hurriyet) take note of the fact that there is a weak
link between DYH and Hurriyet due to dividend restrictions,
DYH's only 60% stake in Hurriyet (the rest is free floating) and
DYH's guarantee over Hurriyet's debt related to the acquisition
of TME.

Although management forecast of a consolidated fiscal year 2007
net debt-to-EBITDA of 2.2x is relatively high, it is within the
confines of the rating.  Fitch also takes into account that
management target to de-leverage to net debt/EBITDA of 1.5x in
the next 12-18 months.  The Stable Outlook reflects Fitch's
concerns over Hurriyet's and TME's weaker operating performances
in 2006 and higher debt metrics at the Hurriyet consolidated
level after the acquisition, versus a net cash position
historically.  High newsprint prices of approximately US$700-750
per ton in 2006 and a rise in the average number of pages,
including inserts and supplements, have depressed EBITDA margins
to 21.6% at fiscal year 2006 from 25.8% at fiscal year 2005.
Fitch will continue to closely monitor Hurriyet's leverage and
operating EBITDAR margins.  A failure to reach the 1.5x-2x net
debt/ EBITDA level in the next 12 months may translate into a
Negative Outlook.

Hurriyet's free cash flow at fiscal year 2006 turned negative
due to a higher-than-expected capital expenditure of
TRY121 million, double the level in fiscal year 2005.  The
company invested an amount that was higher than previous
management guidance in insert and color-printing capacity.  A
TRY41.7 million dividend outflow at fiscal year 2006 and the
acquisition of an additional stake in subsidiary Dogan Ofset
also dented the free cash flow generation capability of the
company.  Capital expenditure should be around US$30 million -
40 million in fiscal year 2007-FY08, which is close to
historical average and should ease the burden on cash flow.
Hurriyet did not pay out any dividends in 2007 due to the TME
acquisition in first half of 2007.  Fitch notes that the company
will resume paying dividends in 2008.  TME generates ample free
cash flow on an annual basis, which will be used to meet its own
debt obligations as well as pay dividends to its owner,
Hurriyet.  TME will start paying dividends to Hurriyet in 2008.

As of fiscal year 2006, the consolidated net debt position stood
at TRY23 million.  However, the TME transaction in first quarter
of 2007 resulted in a US$336 million cash outflow from Hurriyet,
financed by loans from ABN Amro Bank, Garanti Bank and from the
company's internal sources.  As a result, net debt position at
Hurriyet reached US$477 million as of May 2007 on a consolidated
basis, according to management accounts.  Fitch notes that the
consolidated leverage includes a new element of subsidiary debt
at the TME level, totaling US$142 million.

Hurriyet is Turkey's leading daily national newspaper, with
strong positions in advertising and circulation revenues.
Hurriyet is a subsidiary of DYH, which has 60% equity interest.
The latter is controlled by Dogan Holding.  TME is a leading
provider of print and online classified advertising in Russia,
the CIS, the Baltics and Eastern Europe.


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


BRK YAVIR: Creditors Must File Claims by September 6
----------------------------------------------------
Creditors of LLC BRK Yavir (code EDRPOU 33552374) have until
Sept. 6 to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 43/388.

The Debtor can be reached at:

         LLC BRK Yavir
         Bakinskaya Str. 37
         01023 Kiev
         Ukraine


ELECOM LLC: Creditors Must File Claims by September 6
-----------------------------------------------------
Creditors of LLC Elecom (code EDRPOU 14214584) have until
Sept. 6 to submit written proofs of claim to:

         The Economic Court of Cherkassy
         Shevchenko Avenue 307
         18005 Cherkassy
         Ukraine

The Economic Court of Cherkassy commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 14/774.

The Debtor can be reached at:

         LLC Elecom
         Zhelezniak Str. 2a
         Uman
         Cherkassy
         Ukraine


ELECTROSERVICE LLC: Creditors Must File Claims by September 6
-------------------------------------------------------------
Creditors of LLC Company Electroservice (code EDRPOU 33184105)
have until Sept. 6 to submit written proofs of claim to:

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

The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. B 26/167-07.

The Debtor can be reached at:

         LLC Company Electroservice
         Apartment 14
         Krivoy Rog Str. 16-A
         49008 Dnipropetrovsk
         Ukraine

GORODISHCHE LLC: Creditors Must File Claims by September 6
----------------------------------------------------------
Creditors of Agricultural LLC Gorodishche (code EDRPOU 03791002)
have until Sept. 6 to submit written proofs of claim to:

         Terentiy Davidiuk
         Tchapaev Avenue 51
         Zhashkov
         19200 Cherkassy Ukraine

The Economic Court of Cherkassy commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 01/3198.

The Court is located at:

         The Economic Court of Cherkassy
         Shevchenko Avenue 307
         18005 Cherkassy
         Ukraine

The Debtor can be reached at:

         Agricultural LLC Gorodishche
         Sadovaya Str. 5b
         Zhashkov
         19230 Cherkassy
         Ukraine


KRYM TEXTILE: Creditors Must File Claims by September 6
-------------------------------------------------------
Creditors of LLC Krym Textile Company (code EDRPOU 32624922)
have until Sept. 6 to submit written proofs of claim to:

         Julia Saricheva
         Liquidator
         Apartment 24
         Donskaya Str. 41
         Simferopol
         95038 AR Krym
         Ukraine

The Economic Court of AR Krym commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 2-3/268.1-2007.

The Court is located at:

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

The Debtor can be reached at:

         LLC Krym Textile Company
         Apartment 11
         Pushkin Str. 40
         Simferopol
         AR Krym
         Ukraine


SOROKOTIAGA LLC: Creditors Must File Claims by September 6
----------------------------------------------------------
Creditors of Agricultural LLC Sorokotiaga (code EDRPOU 31610135)
have until Sept. 6 to submit written proofs of claim to:

         Terentiy Davidiuk
         LIquidator
         Tchapaev Avenue 51
         Zhashkov
         19200 Cherkassy
         Ukraine

The Economic Court of Cherkassy commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 14/2806.

The Court is located at:

         The Economic Court of Cherkassy
         Shevchenko Avenue 307
         18005 Cherkassy
         Ukraine

The Debtor can be reached at:

         Agricultural LLC Sorokotiaga
         Michurin Str. 67
         Sorokotiaga
         Zhashkov District
         19230 Cherkassy
         Ukraine


SPECIAL INDUSTRIAL: Creditors Must File Claims by September 6
-------------------------------------------------------------
Creditors of LLC Special Industrial Technics (code EDRPOU
21820309) have until Sept. 6 to submit written proofs of claim
to:

         The Economic Court of Lugansk
         Geroiv VVV Square 3a
         91000 Lugansk
         Ukraine

The Economic Court of Lugansk commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 21/6b.

The Debtor can be reached at:

         LLC Special Industrial Technics
         Industrial Str. 8
         Sverdlovsk
         94800 Lugansk
         Ukraine


SUMY LIFT: Creditors Must File Claims by September 6
----------------------------------------------------
Creditors of LLC Sumy Lift (code EDRPOU 14021201) have until
Sept. 6 to submit written proofs of claim to:

         Roman Udovenko
         Liquidator
         SKD Str. 24/2
         40024 Sumy
         Ukraine

The Economic Court of Sumy commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 8/210-07.

The Court is located at:

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

The Debtor can be reached at:

         LLC Sumy Lift
         Grazhdansky Lane 7
         40021 Sumy
         Ukraine


TRAVNEVA LLC: Creditors Must File Claims by September 6
-------------------------------------------------------
Creditors of LLC Agricultural Firm Travneva have until Sept. 6
to submit written proofs of claims to:

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

The Economic Court of Kharkov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. B-19/46-07.

The Debtor can be reached at:

         LLC Agricultural Firm Travneva
         Manchenki
         Kharkov
         Ukraine


TRISLAV LLC: Creditors Must File Claims by September 6
------------------------------------------------------
Creditors of LLC Edition House Trislav (code EDRPOU 33183777)
have until Sept. 6 to submit written proofs of claim to:

         Sergey Tushchenko
         Liquidator
         P.O. Box 644
         49000 Dnipropetrovsk
         Ukraine

The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. B 29/265-07.

The Court is located at:

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

The Debtor can be reached at:

         LLC Edition House Trislav
         Lotsman Slope 10a
         49010 Dnipropetrovsk
         Ukraine


TSENTURION LLC: Creditors Must File Claims by September 6
---------------------------------------------------------
The Economic Court of Cherkassy commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 14/775.

Creditors of LLC Tsenturion (code EDRPOU 31022375) have until
Sept. 6 to submit written proofs of claim to:

         The Economic Court of Cherkassy
         Shevchenko Avenue 307
         18005 Cherkassy
         Ukraine

The Debtor can be reached at:

         LLC Tsenturion
         Apartment6
         Malofontannaya Str. 33/15
         Uman
         Cherkassy
         Ukraine


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


ANCHOR RINGMER: Calls In Liquidators from Chantrey Vellacot DFK
---------------------------------------------------------------
D. J. Oprey and W. J. Turner of Chantrey Vellacott DFK LLP were
appointed joint liquidators of Anchor Ringmer Ltd. on Aug. 21
for the creditors’ voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Chantrey Vellacott DFK LLP
         16/17 Boundary Road
         Hove
         East Sussex
         BN3 4AN
         England


BAA LTD: Appoints Sir Nigel Rudd as New Non-Executive Chairman
--------------------------------------------------------------
BAA Ltd. (fka BAA plc) has appointed Sir Nigel Rudd as its new
non-executive chairman and Lord Stevens as a non-executive
director of the board.

Sir Nigel Rudd, 61, is currently the deputy chairman of Barclays
plc.  Mr. Rudd was formerly chairman of Boots.  He is currently
non-executive director of BAE Systems plc, Sappi Ltd. and
Pendragon plc.

Mr. Rudd succeeds Rafael del Pino, president of Grupo Ferrovial
S.A.  Mr. del Pino became interim chairman on Dec. 20, 2006,
when Marcus Agius left BAA to join Barclays.  Mr. del Pino and
Joaquin Ayuso, Grupo Ferrovial’s CEO, will leave the BAA board.

Lord Stevens of Kirkwhelpington, 64, was commissioner of the
Metropolitan Police between 2000 and 2005 and served at Heathrow
Airport during his long police career.  Mr. Stevens is now
international security adviser to the Prime Minister.  He also
acts as chairman of Quest Ltd; chairman of the Skills for
Security Task Force; chairman of the Task Force for a Border
Police Force; and heads the U.K. Airline Owners and Pilots
Association.  He is a qualified multi-engine pilot.

"This is the most challenging role I have ever undertaken,”
Mr. Rudd said.  "BAA faces a number of well-documented
challenges, but I am heartened that it has supportive and long-
term shareholders and a first class chief executive in Stephen
Nelson."

"I am delighted that John Stevens is joining the board which
will be further strengthened over the coming months.  We need to
transform Britain's biggest airports throughout the coming
years.  I believe it can be done and I am determined to get the
results our passengers deserve," Mr. Rudd added.

"BAA's number one priority at the moment is to improve the
experience of our passengers traveling through our airports,
"Stephen Nelson, chief executive of BAA, said.  "We have made
significant headway in recent months and I am confident that the
experience and talent that Sir Nigel and Lord Stevens will bring
to the board will help accelerate this transformation."

According to the Guardian, Mr. Rudd had sought reassurances from
Mr. del Pino about the autonomy of the BAA board before
accepting the role.

"He can come to the board if he has a view and we will debate
it.  What we cannot have is a multi-headed monster where nobody
understands who is the boss and who is running the business,"
Mr. Rudd was quoted by the Guardian as saying.

                      Executive Departures

On Aug. 30, 2007, Donal Dowds, head of security at BAA, quit his
post, the latest in a series of high profile departures since
the Ferrovial takeover, the Daily Telegraph reports.

BAA earlier confirmed the departure of two of its media
relations chiefs.

As previously reported in the TCR-Europe, Mark Mann, head of
media relations, and Duncan Bonfield, corporate affairs
director, resigned after BAA’s Spanish owner Grupo Ferrovial
imposed a media clampdown following heavy criticisms hurled at
the British airports operator for its management of Heathrow.

Mr. Mann and Mr. Bonfield were instructed not to speak to the
press, although they were allowed to answer routine factual
questions.

Malcolm Robertson, the director of communications for BAA
Scotland and BAA's public affairs director, has been appointed
as interim group communications director with immediate effect.
However, the appointment is on a temporary basis.

On July 19, 2007, Tony Douglas, BAA divisional director and
chief executive of Heathrow Airport, quit his post to join the
Laing O’Rourke Group as its chief operating officer.

                           About BAA

Headquartered in London, United Kingdom, BAA Ltd. (fka BAA plc)
-- http://www.baa.com/-- owns and operates seven airports in
the United Kingdom, including Heathrow, the world's busiest
international airport, and Budapest Airport, serving 700
destinations by around 300 airlines.

In June 2006, BAA was bought by a consortium led by Grupo
Ferrovial SA, the Spanish construction company.  Ferrovial is
one of the world's leading construction groups, specializing in
four strategic lines of business - airports, construction,
transport infrastructure and services - throughout Spain, the
U.K., Portugal and nine other countries in Europe and the rest
of the world. The company has around 89,000 employees and a net
revenue of EUR12.4 billion.

                           *   *   *

As of July 20, 2007, BAA Ltd. (fka BAA plc) carries an issuer
rating of Ba1 from Moody's Investor Service.


BRITISH ENERGY: Fitch Affirms BB+ Ratings on Strong Performance
---------------------------------------------------------------
Fitch Ratings has affirmed British Energy Group plc's and
British Energy Holdings plc's Long-term Issuer Default Ratings
at 'BB+'.  BEH's amortizing bonds are also affirmed at 'BB'.
BEH's bonds are rated below the Long-term IDR because, in the
event of insolvency, the bonds rank behind several other
payments, including amounts owed to the Nuclear Liabilities'
Fund.  The Outlooks for BEG's and BEH's Long-term IDRs remain
Stable.

In 2006/07, BEG's strong financial performance was offset by
significant operational problems.  BEG is a price-taking
generator with a low proportion of variable costs and is exposed
to sustained falls in wholesale electricity prices.  For such
companies, Fitch rates through the cycle of prices rather than
adjusting ratings with the wholesale market's volatility.  BEG
currently benefits from a forward price contracting strategy for
its electricity sales, which in a falling price environment
means that the impact of lower prices is deferred.  As of
Aug. 12, 2007, BE had secured fixed price zero/capped collateral
contracts of 100TWh out till March 2013, up from 51TWh on
Aug. 6, 2006.  Since April 2006, average wholesale market prices
have seen a decline with forward baseload prices currently in
the range of GBP36 to GBP44/MWh, for summer 2008 and winter
2007/08.  The average realized price was up by GBP12.2 to
GBP44.2/MWh in fiscal year 2006/07.  As a result, BEG's net cash
position improved by GBP516 million to GBP528 million as of
March 31, 2007.

The group has sold approximately all of its fiscal year 2007/08
output and 36TWh of FY08/09's output at average prices of
GBP42/MWh (excluding 5TWh, per annum, of capped contracts of
GBP30/MWh).  This is in contrast to the current range of forward
prices for 2007/08.  At the same time unit operating costs rose
to around GBP27.0/MWh, as a result of lower output at 13.8TWh in
first quarters of 2007/08.

The company continues to have operational problems at its
Advanced Gas Cooling Reactor power stations.  2006/07's ‘total
unplanned and non-routine’ losses of 21TWh of production were
the highest on record, with 9.4TWh occurring at plants at
Hinkley Point B and Hunterston B, and smaller losses occur
elsewhere.  Following lengthy outages, all four units at these
plants returned to service, by June 2007.  Both plants are
currently operating in a range around 60% load, with an
approximate 70% capacity restriction required to minimize boiler
cracking and maintain temperatures.  A decision on life
extensions to these plants is expected by March 2008.  Fitch
believes that it is unlikely these plants will return to full
capacity in the future.

In June 2007, BEG's cash sweep payments to the NLF fell to 36%
from 64%, following the conversion and sale by the British
Government of 450 million shares, the proceeds of which were
used to bolster the NLF.  This reduction increases BEG's future
financial flexibility and is perceived positively by Fitch.  BEG
paid a GBP141m base dividend on July 31, 2007.  An additional
dividend, which will be variable depending on the profits
generated and the cash available, in addition to pension scheme,
collateral and investment needs, will be considered as of
February 2008.

The company is actively involved in discussions regarding the
future of nuclear power in the UK, and with potential partners
regarding new build opportunities (although any action in this
respect would require creditor approval under the terms of the
restructuring).  Fitch perceives BEG to be an attractive partner
for anyone contemplating new build in the UK, especially given
its potential access to brown field sites (existing and future
decommissioned reactors) and familiarity with the UK
inspectorate.  The company has stated that it does not envisage
spending any significant amounts on this activity for the time
being.


CORUS GROUP: Fitch Withdraws Various Ratings on Acquisition
-----------------------------------------------------------
Fitch Ratings has affirmed and withdrawn Corus Group Limited's
(CS) Long-term Issuer Default Rating of 'BB'/Stable and Short-
term IDR of 'B'.  Fitch has also affirmed and withdrawn the
'BB-' rating on CS's EUR800 million 7.5% senior notes and Corus
Finance Ltd's GBP200 million 6.75% guaranteed bonds which were
redeemed on August 31, 2007.

CS's ratings were upgraded on July 3, 2007 following the
acquisition of the company by Tata Steel Limited ('BBB-'(BBB
minus)/Stable). On July 19, 2007, Fitch assigned a Long-term
foreign currency IDR of 'BB' to Tata Steel UK, a subsidiary of
Tata Steel Limited and which, as per the acquisition structure,
is the new holding company for the Corus group holding assets in
the UK and Netherlands.

Fitch will no longer provide ratings coverage of Corus Group
Plc.


FORD MOTOR: Workers Return to Plant After Venture Strike
--------------------------------------------------------
More than 1,800 workers at Ford Motor Co. of Australia Victorian
plants will return to work within this week after employees at
car parts supplier Venture Industries walked off last week over
redundancy entitlements, reports ABC News.

In a separate report by Ewin Hannan of The Australian, the car
manufacturer will suffer losses of AU$77 million, losing
AU$11 million a day as a result of the strike at Venture
Industries.

Both reports stated that Australian Manufacturing Workers Union
has given Venture Industries 7 days to address their concerns.

Venture employees, according to The Australian, resumed work on
August 30.  However, Ford refused to restart shifts at its
Broadmeadows and Geelong plants as of August 31 saying it could
not be assured of supply continuity.

AMWU accused Venture, which reportedly supplies Ford with
dashboards and other parts, of a "huge backflip" by reneging on
AU$25 million in redundancy entitlements.

ABC quotes AMWU spokesman Dale Oliver saying, "As a result of
their return to work, we're hopeful now that production lines
could start firing up at Ford and we could a lot of the workers
that have been stood down back to work."

                       About Ford Motor

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 and Australia 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.

                          *    *    *

To date, Ford Motor Company still carries Standard & Poor's
Ratings Services 'B' long-term foreign and local issuer credit
ratings and negative ratings outlook.

At the same time, the company carries Moody's Caa1 issuer and
senior unsecured debt ratings and negative ratings outlook.


FORD MOTOR: Romanian Gov't Blocks Claims Against Craiova plant
--------------------------------------------------------------
Ford Motor Company experienced a breakthrough in its efforts to
acquire Romania's 51 percent stake in the Craiova automobile
assembly plant after the Romanian government agreed to pass
legislation that would prevent creditors from seeking claims
against the plant following its privatization, Business Eastern
Europe relates.

According to the report, creditors won't be able to pursue the
plant's liabilities, including the US$800 million debt owed by
the car plant to the state budget, as well as third-party claims
relating to the car plant's former owner, bankrupt car maker
Daewoo (South Korea).

Ford's negotiations with the state hit a standstill following
the car maker's initial bid for the Craiova plant after Ford
refused to honor past debts of the car plant and said that it
wants to clarify its obligations for Daewoo warranties, Business
Eastern Europe states.

The TCR-Europe reported on July 24, 2007, that Ford plans to
develop the Craiova manufacturing plant in Romania into one of
the major facilities supporting Ford of Europe's vehicle and
engine production requirements.  If the company's bid is
successful, the company would commit to investing EUR675 million
in the site to upgrade and modernize the plant in line with
global Ford Motor Company standards.  Ford's plans also include
increasing employment levels from 3,900 now to 7,000 -- and
potentially up to 9,000.

Ford has issued this statement in response to the recent
developments in the deal: “We are very pleased that the Romanian
government has reached this stage after much hard work, and we
look forward to engaging further with them in the next phase.

“We have already declared our interest in the Craiova facility
on several occasions.  Following today's signing of the
financial agreement between the Romanian and South Korean
institutions, we can confirm that we are definitely interested
in acquiring the facility.  Therefore, we will continue to
develop our business plan, and be prepared to pursue due
diligence when the government begins the privatization process.

“Until a final decision is made on the privatization and buyer,
however, we will refrain from further comment.”

                      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.


FORTRESS WINDOWS: Appoints Stephen P. Grant as Liquidator
---------------------------------------------------------
Stephen P. Grant of Wilkins Kennedy was appointed liquidator of
Fortress Windows, Doors and Conservatories Ltd. on Aug. 15 for
the creditors’ voluntary winding-up procedure.

The liquidator can be reached at:

         Wilkins Kennedy
         Risborough House
         38/40 Sycamore Road
         Amersham
         Buckinghamshire
         HP6 5DZ
         England


GEORGICA PLC: Moody's Withdraws B2 Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service withdrew Georgica PLC's B2 Corporate
Family Rating and the company's B2 Probability of Default Rating
for business reasons.

The withdrawal follows the call and redemption in full of the
company's GBP60 million Floating Rate Notes due 2012.

Georgica PLC, based in London, UK is the holding company for the
UK-based bowling operations of Tenpin Limited.


IMS GLASS: Names Matthew Colin Bowker Liquidator
------------------------------------------------
Matthew Colin Bowker of Tenon Recovery was appointed liquidator
of IMS Glass Ltd. (formerly Interpane Glass (U.K.) Ltd.) on
Aug. 21 for the creditors’ voluntary winding-up procedure.

The liquidator can be reached at:

         Tenon Recovery
         Clive House
         Clive Street
         Bolton
         Lancashire
         BL1 1ET
         England


PITT & ABBOTT: Taps Aileen Jane Crooks to Liquidate Assets
----------------------------------------------------------
Aileen Jane Crooks of Deloitte & Touche LLP was appointed
liquidator of Pitt & Abbott Ltd. on Aug. 20 for the creditors’
voluntary winding-up procedure.

The liquidator can be reached at:

         Deloitte & Touche LLP
         City House
         126-130 Hills Road
         Cambridge
         CB2 1RY
         England


QUANTOCK CEILINGS: Duncan Beat Leads Liquidation Procedure
----------------------------------------------------------
Duncan Beat of Tenon Recovery was appointed liquidator of
Quantock Ceilings (Southern) Ltd. on Aug. 17 for the creditors’
voluntary winding-up procedure.

The liquidator can be reached at:

         Tenon Recovery
         Charnwood House
         Gregory Boulevard
         Nottingham
         NG7 6NX
         England


QUEBECOR WORLD: Completes Tender Offer to Buy Capital's Notes
-------------------------------------------------------------
Quebecor World (USA) Inc., a wholly-owned subsidiary of Quebecor
World Inc. reported the expiration of its cash tender offers to
purchase:

   (a) Quebecor World Capital Corporation's outstanding
       8.42% Senior Notes, Series A, due July 15, 2010 and 8.52%
       Senior Notes, Series B, due July 15, 2012; and

   (b) Quebecor World Capital's outstanding 8.54%, Senior Notes,
       Series C, due Sept. 15, 2015, and 8.69% Senior Notes,
       Series D, due Sept. 15, 2020, and the related consent
       solicitation seeking to effect the proposed amendments to
       the note purchase agreements governing the Notes.

The tender offers and the related consent solicitation were made
upon and subject to the terms and conditions set forth in the
Offer to Purchase and Consent Solicitation dated Aug. 3, 2007,
and the related Consent and Letter of Transmittal.

The tender offers for the Notes expired at midnight, New York
City time, on Aug. 30, 2007.  One condition to the tender offers
was the receipt of the consents from holders of more than 50% in
aggregate principal amount of the Series A Notes and the Series
B Notes, taken as a class, and holders of more than 50% in
aggregate principal amount of the Series C Notes and the Series
D Notes, taken as a class.

As of the Expiration Date, the Requisite Consents were not
received.  Consequently, QWUSA will not purchase any Notes
pursuant to the tender offers, none of the proposed amendments
to the Note Purchase Agreements will be effected and the
previously announced tender offer consideration and consent fee
will not be paid or become payable to any holder of the Notes.

The Dealer Manager for the tender offers and the consent
solicitation is Banc of America Securities LLC.

Global Bondholder Services Corporation is the Information Agent
and the Depositary for the tender offers and the consent
solicitation.

Questions regarding the tender offers may be directed to Banc of
America Securities LLC at (312) 828-5846 (collect) or Global
Bondholder Services Corporation at (866) 470-4300 (toll free) or
at (212) 430-3774 (collect).

                     About Quebecor World Inc.

Headquartered in Montreal, Quebec, Quebecor World Inc. (TSX:
IQW)(NYSE:IQW), -- http://www.quebecorworldinc.com/-- provides
market solutions, including marketing and advertising
activities, well as print solutions to retailers, branded goods
companies, catalogers and to publishers of magazines, books and
other printed media.  It has 127 printing and related facilities
located in North America, Europe, Latin America and Asia. In the
United States, it has 82 facilities in 30 states, and is engaged
in the printing of books, magazines, directories, retail
inserts, catalogs and direct mail.  In Canada it has 17
facilities in five provinces, through which it offers a mix of
printed products and related value-added services to the
Canadian market and internationally.  The company is an
independent commercial printer in Europe with 19 facilities,
operating in Austria, Belgium, Finland, France, Spain, Sweden,
Switzerland and the United Kingdom. In March 2007, it sold its
facility in Lille, France.  Quebecor World (USA) Inc. is its
wholly owned subsidiary.

                          *     *     *

Moody's Investor Services placed Quebecor World Inc.'s
probability of default and long term corporate family ratings at
"B3" on Aug. 28, 2007.


SANDFORD-WILSON PLUMBING: Claims Filing Period Ends October 9
-------------------------------------------------------------
Creditors of Sandford-Wilson Plumbing & Heating Ltd. (formerly
Sandford Plumbing & Heating Ltd. and Sprint 1142 Ltd.) have
until Oct. 9 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:

          Vincent John Green
          Joint Liquidator
          Vantis Business Recovery Services
          Judd House
          16 East Street
          Tonbridge
          TN9 1HG
          England

Vincent John Green and Mark Newman of Vantis Business Recovery
Services were appointed joint liquidators of the company on
Aug. 24 for the creditors’ voluntary winding-up proceeding.


SHAW GROUP: Files Preliminary Restated Financials with SEC
----------------------------------------------------------
The Shaw Group Inc. has furnished preliminary financial
statements to the U.S. Securities and Exchange Commission on
Form 8-K for first quarter (restated) and second quarter fiscal
2007.  The company previously announced its intention to restate
its 2006 Form 10-K and until such process is completed, cannot
formally file its quarterly reports on Form 10-Q.

The first quarter restatement reflects the previously disclosed
US$6.5 million pre-tax charge, US$3.5 million after-tax (US$0.04
per diluted share), relating to a U.S. Gulf Coast EPC
petrochemical project.  The company previously announced its
intention to record US$2.6 million of the US$6.5 million charge
in fiscal year 2006; however, further review determined that no
adjustment was necessary to the 2006 financial statements for
this item.  The company continues to work on restating its 2006
Form 10-K and completion of its financial statements for the
third quarter of 2007.  The company's 2007 fiscal year ends
Aug. 31, 2007.

The financial statements furnished Aug. 31 reflect a change in
accounting for the company's investment in Westinghouse.  The
company, after consultations with the Corporate Finance Division
accounting staff of the SEC, believes the Westinghouse
investment should be accounted for as a single asset using the
equity method of accounting.

The company has obtained a waiver under its primary credit
agreement related to the delayed public filings through
Nov. 30, 2007.  The company currently has no borrowings
outstanding under this credit facility.

Based in Baton Rouge, Louisiana, The Shaw Group Inc. (NYSE: SGR)
-- http://www.shawgrp.com/-- provides services to the
environmental, infrastructure and homeland security markets,
including consulting, engineering, construction, remediation and
facilities management services to governmental and commercial
customers.  It is also a vertically integrated provider of
engineering, procurement, pipe fabrication, construction and
maintenance services to the power and process industries.  The
company segregates its business activities into four operating
segments: Environmental & Infrastructure; Energy & Chemicals;
Maintenance, and Fabrication, Manufacturing & Distribution.  In
January 2005, the company sold substantially all of the assets
of its Shaw Power Technologies, Inc. and Shaw Power Technologies
International, Ltd. units to Siemens Power Transmission and
Distribution Inc., a unit of Siemens AG.

The company has operations in Chile, China, Malaysia, the United
Kingdom and, Venezuela, among others.

                       *     *     *

Standard & Poor's Ratings Services affirmed its 'BB' corporate
credit rating on The Shaw Group Inc. and removed it from
CreditWatch, where it was placed with negative implications in
October 2006.  S&P said the outlook is stable.

In addition, 'BB' senior secured debt rating was affirmed after
the US$100 million increase to the company's revolving credit
facility.


SUPERIFOODS LTD: Claims Filing Period Ends September 21
-------------------------------------------------------
Creditors of Superifoods Ltd. have until Sept. 21 to send their
names and addresses and particulars of their claims to:

         Matthew Colin Bowker and David Antony Willis
         Joint Liquidators
         Tenon Recovery
         Europarc Innovation Centre
         Innovation Way
         Grimsby
         DN37 9TT
         England

Matthew Colin Bowker and David Antony Willis of Tenon Recovery
were appointed joint liquidators of the company on Aug. 21 for
the creditors’ voluntary winding-up proceeding.


WICLIFFE MOTOR: Creditors' Meeting Slated for Sept. 18
------------------------------------------------------
Creditors of Wicliffe Motor Co. Ltd. will meet at 11:00 a.m. on
Sept. 18 at:

         Ernst & Young LLP
         One Bridewell Street
         Bristol
         BS1 2AA
         England

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims at noon on Sept. 17 at:

         Ian Best
         Joint Administrative Receiver
         Ernst & Young LLP
         One Bridewell Street
         Bristol
         BS1 2AA
         England

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

                            *********

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

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

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com

Each Friday's edition of the TCR includes a review about a book
of interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/booksto order any title today.

                            *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter -- Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  Jazel P. Laureno, Julybien Atadero, Carmel Zamesa
Paderog, Joy Agravante, Zora Jayda Zerrudo Sala, Kristina A.
Godinez, and Pius Xerxes Tovilla, Editors.

Copyright 2007.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
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Information contained herein is obtained from sources believed
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                 * * * End of Transmission * * *