TCREUR_Public/071001.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

             Monday, October 1, 2007, Vol. 8, No. 193

                            Headlines


A U S T R I A

ALPENHOF LLC: Claims Registration Period Ends Oct. 16
GOLERGASSE 31: Claims Registration Period Ends Oct. 23
HDG CONSULTING: Claims Registration Period Ends Oct. 16
HENNEL LLC: Claims Registration Period Ends Oct. 23
LIRIDON LLC: Claims Registration Period Ends Oct. 15

MAT VERTEILERBAU: Claims Registration Period Ends Oct. 30
P.A.S. SANITARHANDEL: Claims Registration Period Ends Oct. 30
PETER SZOKOL: Claims Registration Period Ends Oct. 16
RHI AG: U.S. Court Confirms Reorganization Plans


F R A N C E

GENERAL CABLE: Earns US$62.9 Million in Quarter Ended June 29
GENERAL CABLE: S&P Rates Proposed $400MM Senior Notes at B+
LIBERATION SA: Seeks Extension of Bankruptcy Protection
QUEBECOR MEDIA: Moody's Rates US$450 Million Senior Notes at B2
QUEBECOR MEDIA: S&P Rates Proposed $450MM Unsecured Notes at B


G E R M A N Y

BRENNTAG HOLDING: Moody's Affirms B2 Corporate Family Rating
CALL TIME: Claims Registration Period Ends Oct. 15
DURA AUTOMOTIVE: Disclosure Statement Hearing Continue on Oct. 3
GROMMISCH VERWALTUNGSGESELLSCHAFT: Claims Bar Date Ends Oct. 11
MONTERRA IMMOBILIENVERWALTUNGS: Claims Bar Date Ends Jan. 2

RED HAT: Earns US$18.2 Million in Second Quarter Ended Aug. 31
T-NEX VERWALTUNGSGES: Claims Registration Period Ends Oct. 12


I R E L A N D

BLACKBOARD INC: Loan Repayment Cues S&P to Lift Rating to BB


I T A L Y

FIAT SPA: Sells 1.83% Equity Stake in Mediobanca for EUR118 Mln
PARMALAT SPA: Ex-CEO Tanzi May Face Tax Fraud Charges in Milan


K A Z A K H S T A N

AKSU-GOLDEN HOPE: Proof of Claim Deadline Slated for Nov. 6
ARYS LLP: Creditors Must File Claims Nov. 2
COMFORTSTROY & CO: Claims Filing Period Ends Nov. 2
ENERGOSTROY-21 VEK: Creditors' Claims Due on Nov. 2
IRADA LLP: Claims Registration Ends Nov. 7

MANAL SOKOS: Proof of Claim Deadline Slated for Nov. 2
PARK ATTRAKTSIONOV: Creditors Must File Claims Nov. 2
TECHNOGUIDE LLP: Claims Filing Period Ends Nov. 7
TEMIRJAN-PV LLP: Creditors' Claims Due on Nov. 6
WEST VISION: Claims Registration Ends Nov. 2


K Y R G Y Z S T A N

TAZA-AYIL LLC: Creditors Must File Claims by November 7


N E T H E R L A N D S

BIOMET INC: Closes Merger with Private Equity Group
BIOMET INC: Moody's Puts Corporate Family Rating at B2
RADNOR HOLDINGS: Court Extends Solicitation Period to January 14


R U S S I A

DEBESSKAYA OIL: Creditors Must File Claims by Nov. 8
ELECTROPLATING OJSC: Creditors Must File Claims by Nov. 8
GELENDZHIK LLC: Creditors Must File Claims by Oct. 8
KASHIRSKIY FLOUR: Moscow Bankruptcy Hearing Slated for Nov. 27
KULIKOVSKOE LLC: Creditors Must File Claims by Nov. 8
NEW STYLE: Creditors Must File Claims by Oct. 8

NOVATEK OAO: Fitch Upgrades Ratings to BB on Strong Performance
ORBITA-AGRO CJSC: Creditors Must File Claims by Oct. 8
POLIEL CJSC: Creditors Must File Claims by Nov. 8
ROSNEFT OIL: Debut Bond Placement Slated for November
ROSNEFT OIL: Vladimir Putin Denies Rosneft-Gazprom Merger Plan
ROSSA CJSC: Creditors Must File Claims by Oct. 8

SITEKH CJSC: Creditors Must File Claims by Oct. 8
STRELETS LLC: Creditors Must File Claims by Oct. 8
USEC INC: S&P Junks Rating on US$500MM Convertible Senior Notes
VERKHOVINO CJSC: Court Names A. Kublikov as Insolvency Manager
WORLD OF YUGRAMYSHSKIY: Creditors Must File Claims by Oct. 8

ZIBOROVSKOE CJSC: Creditors Must File Claims by Oct. 8


S W E D E N

FORD MOTOR: Terra Firma Eyes Jaguar & Land Rover Brands


S W I T Z E R L A N D

ALFRED WALTER: Creditors' Liquidation Claims Due Oct. 10
ATORAN JSC: Zug Court Starts Bankruptcy Proceedings
APPSO LLC: Creditors' Liquidation Claims Due October 10
B+B TAXI: Creditors' Liquidation Claims Due October 10
CAFFE PER TUTTI: Zug Court Starts Bankruptcy Proceedings

CORA LLC: Creditors' Liquidation Claims Due October 10
PROVINZCLUB LLC: Creditors' Liquidation Claims Due October 10
ROBINSON RESEARCH: Zug Court Closes Bankruptcy Proceedings
SUNBAY SOFTWARE: Thalwil Court Closes Bankruptcy Proceedings
TEXTILREINIGUNG DIPPOLD: Liquidation Claims Due October 10


U K R A I N E

ALIYE PARUSA: Mykolaiv Economic Court Declares Company Bankrupt
CONSULTING-CENTER LLC: Proofs of Claim Deadline Set October 3
DOKA-TECHNO LLC: Proofs of Claim Deadline Set October 3
ENERGODAR BAKERY: Proofs of Claim Deadline Set October 3
FPG SYNTHESE: Proofs of Claim Deadline Set October 3

HIGH PROJECT: Proofs of Claim Deadline Set October 3
MASS MEDIA INVEST: Proofs of Claim Deadline Set October 3
PRIVATE PROJECT: Proofs of Claim Deadline Set October 3
PROFI BUILDING: Proofs of Claim Deadline Set October 3
TRADE ALIANCE: Proofs of Claim Deadline Set October 3
V.T.F. LLC: Proofs of Claim Deadline Set October 3


U N I T E D   K I N G D O M

ADVANCED MARKETING: Court Approves Joint Disclosure Statement
ADVANCED MARKETING: Has Until Sept. 30 to Decide on Two Leases
BRITISH AIRWAYS: Orders Airbus and Boeing Long-Haul Aircraft
C J O ENTERPRISES: Peter W. Engel Leads Liquidation Procedure
GENERAL MOTORS: National Council Supports 2007 Tentative Pact

GENERAL MOTORS: Canada Plants Reopens Amid Tentative UAW Pact
GOUGH PACKAGING: Joint Liquidators Take Over Operations
MITSUBISHI MOTORS: Posts 16.9% Boost for August Production
NASDAQ STOCK: Borse Dubai Raises Cash Offer for OMX AB
NIALL PHILLIPS: Brings In Liquidators from BDO Stoy Hayward

SAGRES STC: Fitch Lowers Rating on EUR53 Mln Class T Notes to B
TORQUE SYSTEMS: Claims Filing Period Ends December 19
W.T. ELECTRIC: Calls In Liquidators from Tenon Recovery
WHOLE FOODS: Board Declares US$0.18 Per Share Dividend
WHOLE FOODS: Capers Outlet to Shut Down on October 27

* Fried Frank London Office Names Sheena McCaffrey as Partner

* BOND PRICING: For the Week Sept. 24 to Sept. 28, 2007

                            *********

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


ALPENHOF LLC: Claims Registration Period Ends Oct. 16
-----------------------------------------------------
Creditors owed money by LLC Alpenhof (FN 100145y) have until
Oct. 16 to file written proofs of claim to court-appointed
estate administrator Andrea Eisner at:

         Mag. Andrea Eisner
         Weyrgasse 8/7
         1030 Vienna
         Austria
         Tel: 712 04 77
         Fax: 712 04 77 12

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 1:00 p.m. on Oct. 30 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1701
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Aug. 24 (Bankr. Case No. 6 S 102/07b).


GOLERGASSE 31: Claims Registration Period Ends Oct. 23
------------------------------------------------------
Creditors owed money by LLC Golergasse 31 Projekt (FN 159098v)
have until Oct. 23 to file written proofs of claim to court-
appointed estate administrator Ulla Reisch at:

         Dr. Ulla Reisch
         Praterstrasse 62-64
         1020 Vienna
         Austria
         Tel: 212 55 00
         Fax: 212 55 00 5
         E-mail: office.wien@ulsr.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:15 a.m. on Nov. 6 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1606
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Aug. 30 (Bankr. Case No. 4 S 100/07v).


HDG CONSULTING: Claims Registration Period Ends Oct. 16
-------------------------------------------------------
Creditors owed money by LLC HDG Consulting GmbH. & Co. KEG (FN
271200z) have until Oct. 16 to file written proofs of claim to
court-appointed estate administrator Gerhard Bauer at:

         Mag. Gerhard Bauer
         Mahlerstrasse 7
         1010 Vienna
         Austria
         Tel: 512 97 06
         Fax: 512 97 06 20
         E-mail: ra-g.bauer@aon.at

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

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1606
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Aug. 23 (Bankr. Case No. 4 S 98/07z).


HENNEL LLC: Claims Registration Period Ends Oct. 23
---------------------------------------------------
Creditors owed money by LLC HENNEL (FN 285086w) have until
Oct. 23 to file written proofs of claim to court-appointed
estate administrator Michael Neuhauser at:

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

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on Nov. 6 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1606
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Aug. 27 (Bankr. Case No. 4 S 99/07x).  Christof Stapf
represents Mag. Neuhauser in the bankruptcy proceedings.


LIRIDON LLC: Claims Registration Period Ends Oct. 15
----------------------------------------------------
Creditors owed money by LLC Liridon (FN 254647g) have until
Oct. 15 to file written proofs of claim to court-appointed
estate administrator Hans Rant at:

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

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:45 a.m. on Oct. 29 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1705
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Aug. 24 (Bankr. Case No. 3 S 108/07p).  Kurt Freyler
represents Dr. Rant in the bankruptcy proceedings.


MAT VERTEILERBAU: Claims Registration Period Ends Oct. 30
---------------------------------------------------------
Creditors owed money by LLC MAT Verteilerbau (FN 211593t) have
until Oct. 30 to file written proofs of claim to court-appointed
estate administrator Ernst Lehenbauer  at:

         Mag. Ernst Lehenbauer
         Hauptplatz 21
         4470 Enns
         Austria
         Tel: 07223/810 10
         E-mail: ra.lehenbauer@attglobal.net

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 1:30 p.m. on Nov. 13 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Steyr
         Hall 7
         Second Floor
         Steyr
         Austria

Headquartered in Bad Hall, Austria, the Debtor declared
bankruptcy on Aug. 29 (Bankr. Case No. 14 S 32/07i).


P.A.S. SANITARHANDEL: Claims Registration Period Ends Oct. 30
-------------------------------------------------------------
Creditors owed money by LLC P.A.S. Sanitarhandel (FN 68807m)
have until Oct. 30 to file written proofs of claim to court-
appointed estate administrator Christian Bachmann at:

         Dr. Christian Bachmann
         c/o Dr. Eva-Maria Bachmann-Lang
         Opernring 8
         1010 Vienna
         Austria
         Tel: 512 87 01
         Fax: 513 82 50
         E-mail: bachmann.rae@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 12:15 p.m. on Nov. 13 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1701
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Aug. 28 (Bankr. Case No. 6 S 104/07x).  Eva-Maria Bachmann-
Lang represents Dr. Bachmann in the bankruptcy proceedings.


PETER SZOKOL: Claims Registration Period Ends Oct. 16
-----------------------------------------------------
Creditors owed money by LLC Peter Szokol (FN 257912h) have until
Oct. 16 to file written proofs of claim to court-appointed
estate administrator Gerhard Schilcher at:

         Dr. Gerhard Schilcher
         c/o Mag. Rainer Radlinger
         Backerstrasse 1/3/13
         1010 Vienna
         Austria
         Tel: 513 23 44
         Fax: 513 23 44 15
         E-mail: wien@kosch-partner.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 1:15 p.m. on Oct. 30 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1701
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Aug. 24 (Bankr. Case No. 6 S 101/07f).  Rainer Radlinger
represents Dr. Schilcher in the bankruptcy proceedings.


RHI AG: U.S. Court Confirms Reorganization Plans
------------------------------------------------
RHI AG, on Sept. 26, 2007, said that a U.S. Bankruptcy Court
approved reorganization plans of former affiliates, bringing
closer an end to woes triggered by asbestos-related claims,
Reuters reports.

The Hon. Judith K. Fitzgerald of the U.S. Bankruptcy Court for
the Western District of Pennsylvania confirmed the Third Amended
Plan of Reorganization filed by North American Refractories
Company and its debtor-affiliates, I-Tec Holding Corp., Intertec
Company, and Tri-Star Refractories, Inc.

In a statement, RHI said that the plan for its former companies,
needs further approval by the District Court, which can then be
appealed within a month.

According to RHI, if the reorganization plan enters into force
after that period, RHI will have full protection from all
remaining asbestos damage claims against its former affiliates
in the United States.

RHI wrote down all its U.S. assets in 2001, when the asbestos
claims together with a global slump of the steel industry nearly
pushed it into insolvency.  The reorganization plans for the
companies were filed in 2005.

Final approval of the plan will have no negative earnings impact
but will trigger a final US$40 million payment to RHI from
Honeywell International Inc.

Vienna, Austria-based RHI AG manufactures heat-resistant
refractory products.  The Company’s refractories are used in
high-temperature industrial processes such as steelmaking,
copper and aluminum smelting, and glass production, and
in the construction of industrial kilns.  The Company has
manufacturing and sales operations in four continents.

                    Overview of the Plan

The Debtors relate that the Plan provides for the establishment
of the NARCO Asbestos Trust for payment of NARCO Asbestos Trust
Claims and NARCO Asbestos Demands.  The Debtors believe that the
Plan wil provide cash and other assets sufficient to pay 100% of
the liquidated value of NARCO Asbestos Trust Claims and NARCO
Asbestos Demands.

The NARCO Asbestos Trust will hold 79% of Reorganized ANH
Refractories' common stock.  ANH will own 100% of Reorganized
NARCO's common stock through the utilization of a holding
company structure.

The Debtors relate further that the Plan is conditioned on,
among other things, the NARCO Asbestos Trust being funded:

    (a) on an evergreen basis by Honeywell International Inc.,
        subject to certain annual funding caps; and

    (b) 79% of the shares of reorganized ANH common stock.

                      Treatment of Claims

The Debtors relate that holders of Allowed Secured Claims
secured by Financial Instruments will retain their collateral.
Allowed Secured Claims under Capitalized Leases and Secured
Financing Agreements will be satisfied, at the option of
Reorganized ANH, through:

    (a) reinstatement of the debt;

    (b) return of the collateral securing the claim;

    (c) cash in an amount equal to the proceeds realized from
        the sale of the collateral securing the claim; or

    (d) other treatment as agreed upon by the holder of the
        claim and Reorganized ANH.

The Debtors say that its DIP Facility will be fully drawn, not
repaid and deemed satisfied on the effective date of the Plan.
The Debtors disclose that Honeywell has accepted this treatment
pursuant to the NARCO/Honeywell Settlement Agreement.

Holders of General Unsecured Claims, other than NARCO Asbestos
Trust Claims, will receive cash in an amount equal to 90% of
their claims.

The claims of Global Industrial Technologies Inc. and its
affiliates, as well as that of NARCO's non-debtor affiliates,
against the Debtors, will not be modified under the Plan.

The Claims of RHI AG and its affiliates against any of the
Debtors will be deemed released, discharged and cancelled on the
effective date under the NARCO/RHI AG Settlement Agreement.

Workers Compensation Claims, the Debtors relate, will be paid in
full.

NARCO Asebestos Trust claims will be resolved pursuant to the
terms, provision and procedures pursuant to the NARCO Asbestos
Trust Agreement and the NARCO Asbestos Trust Distribution
Procedures.  The Debtors estimate that the full value of these
claims will be paid.

NARCO Silica Claims remain unaffected through thei Chapter 11
case, the Debtors disclose.

Equity interests held by RHI AG will be cancelled and terminated
pursuant to the NARCO/RHI AG Settlement Agreement.

                         RHI Comments

RHI disclosed in its website Monday that once the confirmation
order becomes final, it will permanently receive protection with
respect to all remaining asbestos claims against the debtor
companies in the USA.

RHI, in April 2004, reached settlement agreements with US
subsidiaries operating under Chapter 11 to settle all mutual
prepetition claims.  A condition to the NARCO settlement is a
$40 million payment by Honeywell International to RHI
Refractories Holding under a prior contract.  The payment is
called for upon final approval of the confirmation order and
consummation of the plan.

                          About ANH

Based in Moon Township, Pennsylvania, ANH Refractories, fka RHI
Services, Inc., was formed in 2000 to provide management
services to North American Refractories Company and Global
Industrial Technologies Inc.  Services consisted of the
management of human resources, legal finance, accounting
services, tax services and other support services.

                        About RHI AG

RHI AG -- http://www.rhi-ag.com/-- manufactures heat-resistant
refractory products.  RHI's refractories are used in high-
temperature industrial processes such as steelmaking, copper and
aluminum smelting, and glass production, and in the construction
of industrial kilns.  RHI has manufacturing and sales operations
on four continents.

                         About NARCO

Based in Pittsburgh, Pennsylvania, North American Refractories
Company manufactured and sold refractory products.  The
company's products consist of three categories: bricks,
castables and gunning mixes.  Through a series of transactions,
the company became an indirect wholly-owned subsidiary of RHI
AG.  The company is the parent company of I-Tec Holding Corp.,
Intertec Company, and Tri-Star Refractories, Inc.

The company and its affiliates sought chapter 11 protection on
Jan. 4, 2002 (Bankr. W.D. Pa. Lead Case No. 02-20198) after
suffering a slump in the domestic economy and encountering an
overwhelming number of claims from individuals asserting
injuries or illnesses caused by exposure to products containing
asbestos containing it manufactured.

James J. Restivo, Jr., Esq., Robert P. Simmons, Esq., and David
Ziegler, Esq., at Reed Smith LLP represents the Debtor.  Kroll
Zolfo Cooper LLC is the Debtors' bankruptcy consultants and
special financial advisors.  When the Debtor filed for
protection from its creditors, it listed $27,559,000,000 in
assets and $18,634,000,000 in debts.

The Official Committee of Unsecured Creditors is represented by
McGuire Woods, LLP.  KPMG, LLP, is the Creditors Committee's
financial advisor.  The Asbestos Claimants Committee is
represented by attorneys at Caplin & Drysdale, Chartered and
Campbell & Levine, LLC.  L. Tersigni Consulting, PC is the
Asbestos Committee's financial advisor.

Lawrence Fitzpatrick was appointed as the Future Asbestos
Claimants Representative.  Mr. Fitzpatrick is represented by
attorneys at Young Conaway Stargatt & Taylor LLP and Meyer,
Unkovic & Scott LLP.


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


GENERAL CABLE: Earns US$62.9 Million in Quarter Ended June 29
-------------------------------------------------------------
General Cable Corporation reported net income of $62.9 million
for the second quarter ended June 29, 2007, compared to net
income of $41.5 million in the second quarter of 2006.

Revenues were $1.17 billion compared to $987.1 million in the
prior year, an increase of 19.0%.

Net sales for the second quarter of 2007 were $1.17 billion, an
increase of $171.5 million or 17.0% compared to second quarter
net sales of $1.00 billion on a metal adjusted basis.  Without
the impact of acquisitions and changes in foreign exchange
rates, organic revenue growth was approximately 8.0% in the
second quarter of 2007 compared to 2006, on the continuing
strength of the company's global electrical infrastructure and
electric utility businesses.  Revenues from recent acquisitions
contributed $55.9 million in the second quarter.

During the second quarter of 2006 the company benefited from the
forward purchase of a small portion of its copper requirements
due to concerns over supply tightness and the timing of certain
customer shipments.  The company estimated the incremental
operating profit realized in the second quarter of 2006 was
about $8.5 million.  Without this impact, operating earnings in
the second quarter of 2006 were $61.9 million.  Second quarter
2007 operating income was $103.0 million compared to adjusted
operating income of $61.9 million in the second quarter of 2006,
an increase of $41.1 million or 66.0%.  Operating margin was
8.8% in the second quarter of 2007, an increase of approximately
260 basis points from the adjusted operating margin percentage
of 6.2% in the second quarter of 2006 on a metal-adjusted basis.
"Electrical infrastructure, networking and utility businesses in
North America as well as Silec in France and our operations in
Portugal led the way in margin improvement," said Gregory B.
Kenny, president and chief executive officer of General Cable.

               Third Quarter 2007 Outlook

"The weaker housing market in Spain, Oceania, and the United
States continues to be offset by strong infrastructure project
demand and opportunities in new markets, underscoring the
importance of the company's product and geographic
diversification over the last several years.  In North America,
a couple of large transmission projects have been pushed out
from the middle of 2007 until the first half of 2008.  To give
you a sense of size and scale, the total transmission cable
required for just one of these projects would represent a
significant percentage of the company's annual transmission
cable manufacturing capacity.  Given the nature of these and
other large scale projects, I expect timing volatility for both
overhead and underground high voltage transmission systems as
well as submarine projects will continue to make short term
forecasting a bit more difficult.  Versus the second quarter,
the company will fully absorb facility vacation shutdowns and
maintenance typically scheduled for the July and August
timeframe as well as the normal seasonality of many of our
markets.  Therefore, for the third quarter of 2007, we expect to
report revenues of approximately $1.1 billion and earnings per
share in the range of $0.85 to $0.90, again up nicely from the
prior year," Kenny said.

At June 29, 2007, the company's consolidated balance sheet
showed $2.68 billion in total assets, $2.13 billion in total
liabilities, and $551.9 million in total stockholders' equity.

Full-text copies of the company's consolidated financial
statements for the quarter ended June 29, 2007, are available
for free at http://researcharchives.com/t/s?23bd

                  About General Cable

Headquartered in Highland Heights, Kentucky, General Cable
Corporation (NYSE: BGC) -- http://www.generalcable.com/--
develops, designs, manufactures, markets and distributes copper,
aluminum and fiber optic wire and cable products for the energy,
industrial, and communications markets.

                      *     *     *

As reported in the Troubled Company Reporter-Europe on Sept. 28,
2007, Moody's Investors Service assigned a rating of B1 to the
proposed US$400 million senior unsecured convertible notes of
General Cable Corporation.

Concurrently, Moody's confirmed all other ratings for this
issuer, concluding a review initiated on Sept. 12, 2007.
Moody's said the rating outlook is stable.


GENERAL CABLE: S&P Rates Proposed $400MM Senior Notes at B+
-----------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' senior
unsecured debt rating to Highland Heights, Kentucky-based
General Cable Corp.'s proposed $400 million offering of senior
convertible notes due 2012.  S&P also affirmed the 'BB-'
corporate credit rating.  The outlook is stable.

The funds will be used to partially fund the acquisition of the
global wire and cable business of Freeport-McMoRan Copper & Gold
Inc. (which operates as Phelps Dodge International Corp.) for
$735 million, subject to certain adjustments.

"The ratings on General Cable reflect a cyclical operating
profile, driven by fluctuating market demand and volatility in
raw material pricing that can affect working capital
requirements and cash flow," said Standard & Poor's credit
analyst Bruce Hyman.  "These factors are offset somewhat by the
company's leading position in a global market for wire and
cables--especially in the energy transmission and distribution
market--and leverage that is moderate for the rating."

The proposed acquisition will contribute approximately
$1.4 billion in revenues at current metal prices and is expected
to be accretive to earnings in the first full year.  Standard &
Poor's estimates that the acquired business generated
approximately $90 million in EBITDA in 2006, or about 6.4% of
sales.  Pro forma for the increased debt levels used to fund the
acquisition, debt to EBITDA rises somewhat, but is still
moderate for the rating, at less than 3.5x.


LIBERATION SA: Seeks Extension of Bankruptcy Protection
-------------------------------------------------------
French daily newspaper Liberation SA is seeking a three-month
extension of its bankruptcy protection in the Paris commercial
court until the end of December this year, the Financial Times
reports, citing Les Echos as its source.

According to the report, managers at the paper intend to use the
three months to demonstrate that Liberation is a viable
business, saying it would be premature to come out of bankruptcy
protection as press advertising market is still so weak.

Liberation is set to launch its new format which is expected to
boost sales and attract advertisers, Nathalie Silbert writes for
Les Echos.

The Paris commercial court granted bankruptcy protection to the
French daily newspaper on Oct. 4, 2006, FT relates.


QUEBECOR MEDIA: Moody's Rates US$450 Million Senior Notes at B2
---------------------------------------------------------------
Moody's Investors Service rated Quebecor Media Inc.'s
US$450 million add-on senior unsecured note issue B2.  Ratings
on the underlying 7.75% senior unsecured notes due in March of
2016 were affirmed at the same B2 level.  At the same time,
QMI's Ba3 corporate family rating and stable ratings outlook
were affirmed.

The rating action was prompted by the September 26th
announcement of the new note issue.  Proceeds will be used to
repay a bridge loan that had been drawn to fund QMI's earlier
acquisition of Osprey Media Income Fund, a publicly traded
publisher of community newspapers and magazines for an aggregate
purchase price of about CDN$575 million (including assumed
debt).  The new note issue is neutral to the company's
consolidated debt profile and had been contemplated in the
prevailing Ba3 CFR.  Accordingly, the CFR and stable outlook are
affirmed.  However, the notes issue causes QMI's waterfall of
debts to be adjusted and necessitates ratings adjustments on
certain existing instruments.

Downgrades:

Issuer: Quebecor Media, Inc.

   -- Senior Secured Bank Credit Facility (unchanged at B1),
      Downgraded to LGD5-74 from LGD4-67

   -- Senior Unsecured Regular Bond/Debenture (unchanged at
      B2), Downgraded to LGD5-89 from LGD5-87

Issuer: Sun Media Corporation

   -- Senior Secured Bank Credit Facility (unchanged at Baa3),
      Downgraded to LGD1-07 from LGD1-04

   -- Senior Unsecured Regular Bond/Debenture, Downgraded to
      Ba2 (LGD3-33) from Ba1 (LGD2-26)

Issuer: Videotron Ltee

   -- Senior Unsecured Regular Bond/Debenture, Downgraded to
      Ba2 (LGD3-33) from Ba1 (LGD2-26)

Withdrawals:

Issuer: Quebecor Media, Inc.

   -- Senior Unsecured Regular Bond/Debenture, Withdrawn
      (cancelled two-tranche issue), previously rated B2
      (LGD5-87)

Other important rating influences include expectations of
continued top-line and cash flow growth resulting from robust
activity at QMI's cable subsidiary Videotron Ltee.  In turn,
this results from the successful bundled deployment of its cable
telephony product, and is expected to be the key driver behind
improved cash generation over the next several quarters.

In addition, capital expenditures on new printing presses at
QMI's Sun Media Corporation newspaper subsidiary are largely
complete.  The related cash drain should be replaced by margin
gains as cost savings from more efficient presses are
internalized.  It is also noted that QMI's consolidated
operations are strengthened by the diversity contributed by its
smaller entertainment, broadcasting and internet portal
operations, particularly TVA Inc, the largest French broadcaster
in North America.

There are several factors that provide offsetting influences,
the first of which is the company's desire to grow more quickly
than organic expansion will facilitate.  The Osprey transaction
is manifestation of this.  In addition, QMI has indicated that
it wants to be a consolidator in the newspaper segment and has
also discussed being a potential bidder in the pending Canadian
radio spectrum auction.

Should the company be a successful bidder, even should the CRTC
mandate things such as incumbent tower sharing and roaming so as
to provide new entrants with the best possible opportunity for
success, it is likely that significant cash flow will be
required to be allocated for several years in order to build a
credible business.  In addition, Videotron has ongoing network
capital expenditure requirements that will consume cash flow,
and income tax is expected to provide meaningful leakage within
two years.

Lastly, QMI has shareholders that expect cash returns, and it is
expected that cash dividends will be declared should cash flow
be available.  The confluence of these influences offsets the
positive momentum provided by Videotron's results and causes the
ratings outlook to remain stable.

Headquartered in Montreal, Canada, Quebecor Media Inc. is a
privately held leading Canadian media holding company.  Through
its operating companies, QMI has activities in cable
distribution, business, residential and mobile wireless
telecommunications, newspaper publishing, television
broadcasting, book, magazine and video retailing, publishing and
distribution, music recording, production and distribution and
new media services.

QMI is 54.7% owned by Quebecor Inc, a publicly traded
communications holding company, and 45.3% owned by Capital CDPQ.
Quebecor Inc.'s primary assets are its interests in Quebecor
Media and in Quebecor World, one of the world's largest
commercial printers (B3 Negative).  It operates in Canada, the
US, France, Italy and the UK.  Capital CDPQ is a wholly-owned
subsidiary of Caisse de depôt et placement du Quebec, Canada's
largest pension fund manager, with about US$237 billion in
assets under management.  None of Quebecor Inc, Quebecor World
or Capital CDPQ is an obligor or a guarantor of QMI's debt
obligations.


QUEBECOR MEDIA: S&P Rates Proposed $450MM Unsecured Notes at B
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' debt rating
to Montreal, Quebec-based Quebecor Media Inc.'s proposed
$450 million 7.75% senior unsecured notes due 2016.  The notes
are rated two notches below the 'BB-' long-term corporate credit
rating, reflecting their junior position in the company's debt
capital structure with debt at wholly owned subsidiaries,
Videotron Ltee and Sun Media Corp. (both rated BB-/Stable/--),
ranking ahead of the proposed notes.  The ratings and outlook on
all companies are unchanged.

"The proceeds from the notes will be used to refinance the
CDN $420 million bridge loan and related fees to fund the
acquisition of Osprey Media Income Fund, a leading publisher of
newspapers, magazines, and specialty publications in Ontario,"
said Standard & Poor's credit analyst Madhav Hari.

The debt-financed acquisition closed on Aug. 8, 2007, at
CDN $8.45 per unit, representing an equity value of CDN $414
million, and a total purchase price of CDN $576 million,
including the assumption of debt outstanding.  Although the
Osprey acquisition results in weaker credit protection metrics
on a pro forma basis, credit measures remain consistent with the
rating category given pro forma adjusted debt leverage (debt to
EBITDA) of about 4x.

The acquisition of Osprey's 20 daily and 34 nondaily community
newspapers will position Quebecor Media as the largest newspaper
publisher in Canada and should improve Sun Media's newspaper
market position, which consists of eight paid urban dailies,
seven free commuter dailies, and 193 community newspapers and
specialty publications.  Although Osprey participates in the
challenging newspaper industry, it is somewhat insulated against
economic factors as its revenues are derived from the community
newspaper segment.

This segment relies less on customer subscriptions and national
advertising revenues, which tend to be more volatile than local
advertisers.  Despite some integration risk from the
acquisition, Standard & Poor's expects Quebecor Media will be
able to effectively manage the integration process, which should
take up to 12 months to complete.

The stable outlook reflects S&P's expectation that Quebecor
Media's operating assets will maintain their solid market
positions, that credit measures will be in line with the ratings
in the medium term, and that the company will successfully
manage the Osprey integration.  S&P could revise the outlook to
positive or raise the ratings if Quebecor Media improves its
financial risk profile and is able to sustain better operating
performance and stronger credit measures.  Alternatively, S&P
could revise the outlook to negative if the company fails to
meet expectations, resulting in the weakening
of Quebecor Media's operating performance and credit measures.

Headquartered in Montreal, Canada, Quebecor Media Inc. is a
privately held leading Canadian media holding company.  Through
its operating companies, QMI has activities in cable
distribution, business, residential and mobile wireless
telecommunications, newspaper publishing, television
broadcasting, book, magazine and video retailing, publishing and
distribution, music recording, production and distribution and
new media services.

QMI is 54.7% owned by Quebecor Inc, a publicly traded
communications holding company, and 45.3% owned by Capital CDPQ.
Quebecor Inc.'s primary assets are its interests in Quebecor
Media and in Quebecor World, one of the world's largest
commercial printers (B3 Negative).  It operates in Canada, the
US, France, Italy and the UK.  Capital CDPQ is a wholly-owned
subsidiary of Caisse de depôt et placement du Quebec, Canada's
largest pension fund manager, with about US$237 billion in
assets under management.  None of Quebecor Inc, Quebecor World
or Capital CDPQ is an obligor or a guarantor of QMI's debt
obligations.


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


BRENNTAG HOLDING: Moody's Affirms B2 Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service affirmed its B2 corporate family
rating for Brenntag Holding GmbH.  The outlook for the rating
remains negative.

The rating affirmation reflects Brenntag's sound operating
performance for the fiscal year ended Dec. 31, 2006 and the
first half to June 30, 2007 as well as the strength of its
business profile underpinned by a broad customer, product and
geographical diversification, which will continue to support the
current rating in the future.  The renegotiation of Brenntag's
lending facilities in June 2007 with a re-pricing which will
result in significant ongoing interest savings is also expected
to positively impact the credit metrics of Brenntag going
forward.

The maintained negative outlook reflects Moody's remaining
concern about the high leverage of the group, which position the
rating weakly in the B2 rating category and would significantly
constrain the operating flexibility of Brenntag in an economic
downturn.  In addition the group benefits from limited prospect
for deleveraging given its modest free cash flow generation.
Moody's also notes that the exposure of the company to the North
American market (34% of revenues and 45% of EBITDA for fiscal
year 2006) with the first signs of slowdown experienced in this
geographical region in the first half of fiscal year 2007, could
hamper the overall operating performance of the group and should
be monitored closely in the near term future.

The liquidity of Brenntag remains solid.  Moody's expects the
liquidity needs over the next 12 months consisting mainly of
working capital and capex funding needs to be covered by
operating cash flows.  Moody's gains additional comfort from the
company's available cash balances as well as from the
substantial headroom under the company's multi-year revolving
credit facility and the absence of material short term
maturities within the next twelve months.

Moody's reiterates its guidance on "What Could Change the Rating
-- DOWN" published in April 2007.  The ratings on Brenntag may
be downgraded should Brenntag encounter slower than anticipated
growth in the US and European markets or raise additional debt
that would preclude the Company from reducing its leverage to
sustainably below 6.5x and improve FFO/Interest expense to above
2.0x in the next 12 months.

These ratings were affirmed:

   -- Corporate Family Rating at B2;

   -- Probability of Default Rating at B2;

   -- EUR1.6 billion senior secured first lien facilities -- PD
      at B1 and LGD3; and

   -- EUR0.4 billion of senior secured second lien -- PD at Caa1
      and LGD5.

Brenntag, headquartered in Muelheim, Germany, is the world's
largest distributor of industrial and specialty chemicals.  The
group generated revenues of EUR5,958 mio and an adjusted EBITDA
of EUR358 mio for the fiscal year ended 31st December 2006.

Brenntag is owned by funds advised by BC Partners, which
acquired the chemicals distributor as a secondary leveraged
buyout in September 2006.


CALL TIME: Claims Registration Period Ends Oct. 15
--------------------------------------------------
Creditors of Call Time GmbH have until Oct. 15 to register their
claims with court-appointed insolvency manager Andreas Roepke.

Creditors and other interested parties are encouraged to attend
the meeting at 10:50 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 Duisburg
         Hall C315
         Third Floor
         Kardinal-Galen-Strasse 124-132
         47058 Duisburg
         Germany

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

The insolvency manager can be reached at:

         Dr. Andreas Roepke
         Muelheimer Strasse 100
         47057 Duisburg
         Germany

The District Court of Duisburg opened bankruptcy proceedings
against Call Time GmbH on Sept. 19.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Call Time GmbH
         Attn: Kerstin Froehlich, Manager
         Hildegard-Bienen-Str. 1
         47179 Duisburg
         Germany


DURA AUTOMOTIVE: Disclosure Statement Hearing Continue on Oct. 3
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware adjourned
to October 3 the hearing to consider the adequacy of the
Disclosure Statement explaining the Plan of Reorganization filed
by DURA Automotive Systems Inc. and its debtor-affiliates.

The Debtors say that they intend to file a revised plan to
address some minor issues.

                   Overview of the Plan

Troubled Company Reporter  , Aug 24, 2007 ( Source: TCR)

DURA's Plan provides for these creditor recoveries:

   -- Cash payment in full of all allowed debtor-in-possession
      claims, administrative expenses, priority claims and
      second lien secured claims;

   -- Conversion of allowed senior notes and allowed general
      unsecured claims of more than $75,000 into between 57.4%
      to 60.7% of reorganized DURA's new common stock; and

   -- Cash payment in lieu of an equity distribution of all
      allowed trade claims and allowed general unsecured claims
      of $75,000 or less.

The Plan further provides that there will be no recoveries for
subordinated notes' and convertible preferred securities'
claims, nor will the Debtors common stock holders receive any
recoveries.

The Plan will be partly funded through exit financing that the
Debtors intends to procure prior to emergence.  Additional Plan
funding will come from a fully backstopped new money equity
investment of between $140 million to $160 million in exchange
for between 39.3% and 42.6% of Reorganized Dura's common stock.
Senior notes claims holders that are accredited investors will
be eligible to subscribe for their pro rata shares of the new
money investment.

                            Objections

1. Second Lien Group

The Informal Group of Second Lien Lenders said that each member
should be treated as "impaired" under the Joint Plan of
Reorganization and should be entitled to vote on the Plan.

The current members of the Second Lien Group are Allstate
Investments LLC; Allstate Life Insurance Company; Merrill
Lynch Capital; PIMCO Floating Rate Strategy Fund; Silver Point
Capital, LLC; Blackport Capital Fund Ltd.; and Gradient
Partners,
L.P.

Pursuant to a Credit Agreement dated May 3, 2005, certain of the
Debtors borrowed $225,000,000 on a second lien basis.  The
Debtors propose to treat the "allowed claim" of the Second Lien
Lenders as "unimpaired" by paying the claim in full in cash on
the effective date of the Plan.

Laurie Selber Silverstein, Esq., at Potter Anderson & Corroon
LLP, in Wilmington, Delaware, noted that in accordance with the
Credit Agreement, "payment in full" of the Second Lien
Obligations would include (i) principal, (ii) professional fees,
(iii) the Prepayment Fee and (iv) accrued interest, calculated
either at the Default Rate or at the Base Rate.  The Plan,
however, proposes to pay items (i) and (ii) but does not propose
to pay the Prepayment Fee or interest at either the Default Rate
or the Base Rate.

The Plan treatment is based on agreements reached in connection
with the adequate protection arrangements set forth in the
Court's final order approving the Debtors' proposal to obtain
$300,000,000 of DIP financing and use their prepetition lenders'
cash collateral.

The Second Lien Group does not dispute the adequate protection
arrangements.  "However, they are just that - adequate
protection - and they are not amendments to the Credit
Agreement, which amendments would have required the unanimous
consent of the Second Lien Lenders," Ms. Silverstein pointed
out.

By proposing to pay the Second Lien Obligations consistent with
the Final DIP Order rather than in accordance with the Credit
Agreement, the Plan does not "leave[] unaltered the legal,
equitable, and contractual rights" of the Second Lien Lenders
within the meaning of Section 1124 of the Bankruptcy Code,
Ms. Silverstein asserted.  "As a result, the Second Lien
Obligations are 'impaired,'" she said.

The Second Lien Group acceded that the Debtors will assert that
the issues it has raised is a confirmation issue because,
ultimately, the Court will decide the treatment of the Second
Lien Obligations.  The Second Lien Group, however, believes that
this is a Disclosure Statement issue because it will dictate
whether the Second Lien Lenders are entitled to vote on the
Plan.

Presumably the Second Lien Lenders as a class will vote in favor
of the Plan, just as the members of the Second Lien Group intend
to vote in favor of the Plan.  But the point is, all Second Lien
Lenders should be entitled to a vote to ensure that the class as
a whole accepts the impaired treatment proposed by the Plan,
not just the members of the Second Lien Group that negotiated
the Final DIP Order, Ms. Silverstein argued.  "The Second Lien
Group did not then and does not now purport to speak on behalf
of anyone other than its own members and it should not be the
Second Lien Group alone that determines whether the Plan
treatment is acceptable."

Accordingly, the Second Lien Group objected to the Disclosure
Statement because, in describing the Second Lien Obligations as
unimpaired, it denies the holders of the Second Lien Obligations
their right under the Bankruptcy Code to vote on the Plan and
decide for themselves whether to accept the proposed Plan
treatment of less than their full contractual entitlements.

2. U.S. Trustee

Kelly Beaudin Stapleton, the United States Trustee for Region 3,
noted that the primary purpose of a disclosure statement, which
is mandated by Section 1125 of the Bankruptcy Code, is to give
creditors the adequate information necessary for them to decide
whether to accept a proposed plan.

William K. Harrington, trial attorney at the Office of the U.S.
Trustee, asserted that the Disclosure Statement explaining the
Debtors' Joint Plan of Reorganization should not be approved on
the grounds that it proposes a plan that, as drafted, is
currently unconfirmable as a matter of law because it contains
overbroad and impermissible release provisions.

The non-debtor releases, exculpation provision and injunction
provisions contained in the Plan are overbroad and are
impermissible, Mr. Harrington asserted, citing In re Zenith
Electronics Corp., 241 B.R. 92 (Bankr. D. Del. 1999),In re
Continental Airlines, 203 F.3d 203 (3d Cir. 2000), and In re
Genesis Health Ventures, Inc., 266 B.R. 591 (Bankr. D. Del.
2001).

In addition, the U.S. Trustee has concerns regarding the
Debtors' ability to provide sufficient evidence at the
confirmation hearing to justify their request for "limited"
substantive consolidation under applicable Third Circuit law.

Under applicable Third Circuit law, substantive consolidation is
prohibited unless the proponents can establish a prima facie
case.  Absent consent, in In re Owens Corning, 419 F.3d 195 (3d
Cir. 2005), the Third Circuit Court of Appeals held that when
substantive consolidation is sought the entity seeking the same
must prove "that (i) prepetition they disregarded separateness
so significantly their creditors relied on the breakdown of
entity borders and treated them as one legal entity, or (ii)
postpetition their assets and liabilities are so scrambled that
separating them is prohibitive and hurts all creditors."

Accordingly, the U.S. Trustee avers that the Debtors must be
held to their proof at the confirmation hearing with respect to
their request for "limited" substantive consolidation.

Courts have routinely held that a disclosure statement
accompanying an unconfirmable plan should not be approved
because solicitation of votes on an unconfirmable plan would be
a futile and wasteful effort, Mr. Harrington notes, citing In re
Cardinal Congregate I, 121 B.R. 760 (Bankr. S.D. Ohio 1990); and
In re McCall, 44 B.R. 242 (Bankr. E.D. Pa. 1984).

The U.S. Trustee, citing Atlanta West VI Ltd. Partnership, 91
B.R. 620 (Bankr. N.D. GA. 1988); and In re MacCall, 44 B.R. at
243, says that approval of a disclosure statement where the plan
cannot be confirmed as a matter of law would result in a waste
of judicial time and estate assets in a fruitless solicitation
and confirmation attempt.

3. 9% Noteholders

Thirteen beneficial holders of approximately $95,000,000 in face
amount of 9% senior subordinated notes due May 2009, issued by
Dura Operating Corp., asked the Court to disapprove the
Disclosure Statement explaining the Debtors' Joint Plan of
Reorganization:

  * Thomas and Pattiann Kurak
  * J.W. Korth & Company
  * Charles T. Kurak
  * Tamara A. Kurak
  * Richard J. Thielen
  * Jeffrey S. Einstein
  * Jason A. Pieper
  * Jeffrey R. Werner
  * Curtis H. Werner
  * Donald L. Welker
  * Jeff Comfort
  * Daniel S. Hennum
  * Carl E. Kruger

The 9% Noteholders complained that the Disclosure Statement does
not provide creditors with adequate information to make an
informed decision as to the fairness and feasibility the Plan in
accordance with Section 1125 of the Bankruptcy Code.

Toby M. Daluz, Esq., at Ballard Spahr Andrews & Ingersoll, LLP,
in Wilmington, Delaware, contended that the Disclosure
Statement:

  -- fails to provide creditors with information sufficient to
     evaluate whether a substantive consolidation of the Debtors
     is permissible or in the best interests of creditors and
     does not inform creditors what distribution would be made
     to them if each of the Debtors were liquidated on a non-
     consolidated basis;

  -- fails to provide any information regarding the ability of
     Pacificor, LLC, to fund its obligations under the Backstop
     Rights Purchase Agreement;

  -- fails to adequately value the Debtors' interests in foreign
     non-debtor affiliates and subsidiaries, thereby preventing
     creditors from analyzing Pacificor's propriety in
     obtaining 42.4% of the New Common Stock in exchange for a
     $160,000,000 purchase price;

  -- fails to provide a meaningful analysis of the value of the
     New Common Stock which will be distributed to unsecured
     creditors under the Plan;

  -- is silent as to the value and financial import of certain
     significant elements of the Plan, including the Management
     Equity Program and the Rights Offering, preventing
     creditors and the Court from assessing whether the Plan
     unfairly discriminates certain parties or otherwise fails
     to be fair and equitable; and

  -- does not state whether the Debtors have received a
     commitment or at least an expression of serious interest
     from any lender to provide $400,000,000 in exit financing
     and does not describe the basic terms of the Exit Credit
     Facility.

"The Debtors are piggy-backing the liquidation analysis onto
their assertion that under the Plan, creditors fare better if
the Debtors are liquidated on a consolidated basis," Mr. Daluz
asserted.

"Based upon the vague and circular description of the Exit
Credit Facility contained in the Disclosure Statement, it
appears the Debtors have not obtained a commitment from anyone
to provide any portion of the $400 in exit financing the Debtors
require," Mr. Daluz added.  In the absence of information
regarding the terms of the Exit Credit Facility, creditors are
unable to assess the feasibility of the Plan, he maintains.

The 9% Noteholders also contended that the Plan is unconfirmable
because it renders the 9% Notes valueless without providing
creditors the basic financial information necessary to determine
the Debtors' market value.

The Plan, Mr. Daluz argued, improperly requires distribution to
the Senior Noteholders of New Common Stock to which the 9%
Noteholders are entitled under both the terms of the
Subordinated Notes Indentures and the provisions of the
Bankruptcy Code.  As a result, the Plan does not meet the fair
and equitable requirement for confirmation and unfairly
discriminates against the 9% Noteholders, he contended.

The Plan presently provides no safeguards or limitations upon
the use of the 10% of the Distribution Shares reserved for the
Management Equity Program, which creates the possibility that
the Management Incentive Program will be used to circumvent the
requirements for confirmation of the Plan under Section 1129 of
the Bankruptcy Code, Mr. Daluz pointed out.  "The Debtors should
be required to fully disclose the terms of the Management Equity
Program and establish proper safeguards so that the Debtors'
management does not receive 10% of the Distribution Shares on
account of nothing or, alternatively, on account of their
interests in, or claims against, the Debtors."

Herbert R. Benjamin and Mary Page also opposed the Debtors'
Joint Plan of Reorganization.  Mr. Benjamin contends that the
Debtors have misled people in thinking that all of the creditors
will be paid in full.  Ms. Page argues that it is unfair for the
Debtors not to handle retirement pay.

4. Riverside Claims, LLC

Riverside Claims, LLC, a holder of claims against Debtor Dura
Automotive Systems (Canada) Ltd., complained that the Disclosure
Statement explaining the terms of the Debtors' Joint Plan of
Reorganization lacks "adequate information" as that term is
defined under Section 1125 of the Bankruptcy Code.

Robyn J. Spalter, Esq., in New York, contended that the
Disclosure Statement does not provide accurate or adequate
information regarding the substantive consolidation legal
standard in the Third Circuit.  In addition, the Disclosure
Statement does not provide creditors with adequate information
to be able to evaluate the different treatment afforded
creditors with and without substantive consolidation.

"The discussion of the concept of substantive consolidation and
the law regarding same as contained in the Disclosure Statement
is, at best, misleading," Ms. Spalter argued.  Rather than
providing a conclusory statement, the Debtors should provide
information in the Disclosure Statement that allows creditors to
reach the conclusion that "the Plan, with its contemplated
limited substantive consolidation of the Debtors' estates, is
the best option currently available for the Debtors and their
creditors as a whole."

In order to analyze whether substantive consolidation is, as
Debtors allege, not harmful to Dura Canada creditors, the
Disclosure Statement needs to provide additional information on
Dura Canada's liabilities and its inter-Debtor claims, as well
as a claims analysis, Ms. Spalter asserted.

The Disclosure Statement, Ms. Spalter noted, only provides a
liquidation analysis assuming substantive consolidation despite
stating that a separate liquidation analysis has been prepared
for each of the Debtors.

Accordingly, Riverside Claims asked the Court to disapprove the
Disclosure Statement unless it is amended to provide adequate
information as required by Section 1125.

                      About DURA Automotive

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

The company has three locations in Asia -- China, Japan
and Korea.  It has locations in Europe and Latin-America,
particularly in Mexico, Germany and the United Kingdom.

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

The Debtors' exclusive plan-filing period expires on Sept. 30,
2007.


GROMMISCH VERWALTUNGSGESELLSCHAFT: Claims Bar Date Ends Oct. 11
---------------------------------------------------------------
Creditors of Grommisch Verwaltungsgesellschaft mbH have until
Oct. 11 to register their claims with court-appointed insolvency
manager Jens-Soeren Schroeder.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on Oct. 23, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Kiel
         17 Deliusstr.  22
         Kiel
         Austria

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

The insolvency manager can be reached at:

         Jens-Soeren Schroeder
         Raboisen 38
         20095 Hamburg
         Germany
         Tel: 040-334460

The District Court of Kiel opened bankruptcy proceedings against
Grommisch Verwaltungsgesellschaft mbH on Sept. 17.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Grommisch Verwaltungsgesellschaft mbH
         Attn: Peter Grommisch, Manager
         Taubenkrug 26
         24111 Kiel
         Germany


MONTERRA IMMOBILIENVERWALTUNGS: Claims Bar Date Ends Jan. 2
-----------------------------------------------------------
Creditors of MONTERRA Immobilienverwaltungs GmbH & Co.
Entwicklungs-KG have until Jan. 2, 2008, to register their
claims with court-appointed insolvency manager Jan Markus
Plathner.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Feb. 13, 2008 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. Jan Markus Plathner
         Lyoner Strasse 14
         60528 Frankfurt(Main)
         Germany
         Tel: 069/9623340
         Fax: 069/96233422
         Web site: http://www.brinkmann-partner.de/

The District Court of Frankfurt (Main) opened bankruptcy
proceedings against MONTERRA Immobilienverwaltungs GmbH & Co.
Entwicklungs-KG on Sept. 11.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         MONTERRA Immobilienverwaltungs GmbH &
         Co. Entwicklungs-KG
         Attn: Hans-Peter Biffar, Manager
         Frankfurt(Main)
         Germany


RED HAT: Earns US$18.2 Million in Second Quarter Ended Aug. 31
--------------------------------------------------------------
Red Hat Inc. disclosed Tuesday financial results for its second
fiscal quarter ended Aug. 31, 2007.

Net income for the quarter was US$18.2 million, compared with
US$16.2 million for the prior quarter and US$11.0 million in the
year ago quarter.  Non-GAAP adjusted net income for the quarter
was US$36.9 million, after adjusting for stock compensation and
tax expense.  This compares to non-GAAP adjusted net income of
US$33.7 million in the prior quarter and US$24.5 million in the
year ago period.

Total revenue for the quarter was US$127.3 million, an increase
of 28.0% from the year ago quarter and 7.0% from the prior
quarter.  Subscription revenue was US$109.2 million, up 29%
year-over-year and 6.0% sequentially.

Non-GAAP operating cash flow totaled US$63.7 million for the
quarter, up 43.0% from the year ago quarter and 22.0%
sequentially.  Total cash, cash equivalents and investments as
of Aug. 31, 2007, were US$1.3 billion.  At quarter end, Red
Hat's total deferred revenue balance was US$377.0 million, an
increase of 33.0% year-over-year and 4.0% sequentially.

"We are pleased to report another solid quarter of strong
revenues.  I am particularly pleased with the steady improvement
in operating margin and operating cash flow.  These performance
improvements come at a time when we are continuing to invest
heavily in our processes and systems as we scale globally,"
stated Charlie Peters, executive vice president and chief
financial officer of Red Hat.  "We continue to see robust demand
for our open source solutions and are encouraged by our market
position."

In addition, Red Hat Inc. disclosed that its Board of Directors
had authorized the continuation of the company's stock and
debenture repurchase program.  Under the program, the company is
authorized to repurchase in aggregate up to US$250 million of
the company's common stock and in aggregate up to US$75 million
of the company's 0.5% Convertible Senior Debentures due 2024.

Repurchased common stock will be available for use in connection
with the company's equity compensation plans and for other
corporate purposes.  Repurchased debentures will be retired and
canceled.  The repurchase program will be funded using the
company's working capital and may be suspended or discontinued
at any time.  Red Hat had approximately 193.9 million shares of
common stock outstanding as of Sept. 21, 2007.

At Aug. 31, 2007, the company's consolidated balance sheet
showed US$1.92 billion in total assets, US$1.02 billion in total
liabilities, and US$898.5 million in total stockholders' equity.

                          About Red Hat

Headquartered in Raleigh, N.C., Red Hat Inc. (NYSE: RHT) --
http://www.redhat.com/-- is an open source solutions provider,
with over 50 offices spanning the globe.  CIOs have ranked Red
Hat first for value in Enterprise Software for three consecutive
years in the CIO Insight Magazine Vendor Value study.  Red Hat
provides high-quality, low-cost technology with its operating
system platform, Red Hat Enterprise Linux, together with
applications, management and Services Oriented Architecture
solutions, including the JBoss Enterprise Middleware Suite.  Red
Hat also offers support, training and consulting services to its
customers worldwide.

The company has offices in Singapore, Germany, and Argentina,
among others.

                          *     *     *

Red Hat Inc. still carries Standard & Poor's 'B+' corporate
credit rating last placed on Aug. 21, 2006.  Outlook is Stable.


T-NEX VERWALTUNGSGES: Claims Registration Period Ends Oct. 12
-------------------------------------------------------------
Creditors of T-NEX Verwaltungsges.GmbH have until Oct. 12 to
register their claims with court-appointed insolvency manager
Stefan Oppermann.

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

         Dr. Stefan Oppermann
         Aussere Sulzbacher Str. 118
         90491 Nuremberg
         Germany
         Tel: 0911/59890-0
         Fax: 0911/59890-11

The District Court of Nuremberg opened bankruptcy proceedings
against T-NEX Verwaltungsges.GmbH on Sept. 14.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         T-NEX Verwaltungsges.GmbH
         Attn: Detlev Fessen, Manager
         Steinacher Str. 101
         90427 Nuremberg
         Germany


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


BLACKBOARD INC: Loan Repayment Cues S&P to Lift Rating to BB
------------------------------------------------------------
Standard & Poor's Ratings Services raised its bank loan rating
on Washington, D.C.-based Blackboard Inc.'s $10 million senior
secured credit facility to 'BB' from 'B+', following the
repayment of the outstanding first-lien term loan.  The
revolving credit facility is rated 'BB', two notches higher than
the corporate credit rating on the company, with a recovery
rating of '1', indicating the expectation for very high (90%-
100%) recovery in the event of a payment default or bankruptcy.
The corporate credit rating remains at 'B+'.

Standard & Poor's also assigned its 'B-' rating to the company's
$165 million senior convertible notes.

"The rating reflects the company's narrow business profile,
fragmented and competitive market place, and rapid growth," said
Standard & Poor's credit analyst David Tsui.  "These factors are
offset partially by a strengthening position in a growing niche
software market and a significant base of recurring business."

Blackboard's target market primarily is the 6,400 North American
higher education institutions, and secondarily, K-12
institutions and international educational institutions.
Blackboard has a leading position in the niche course management
software market.  Although the company benefits from high
renewal rates and moderately high switching costs, the market is
highly fragmented, and entry from resource-intensive competitors
or open-source software could be a risk.

Financial leverage is moderate for the rating, with total
adjusted debt to EBITDA of 4x as of June 30, 2007, following the
issuance of $165 million senior convertible notes in June.   The
company is acquisitive, having already acquired five companies
since 1997, with the acquisition of WebCT for $154 million being
the largest to date.

Blackboard Inc. provides enterprise software applications and
related services to the education industry.  Founded in 1997,
Blackboard enables educational innovations everywhere by
connecting people and technology.  With two product suites, the
Blackboard Academic Suite (TM) and the Blackboard Commerce Suite
(TM), Blackboard is used by millions of people at academic
institutions around the globe, including colleges, universities,
K-12 schools and other education providers, as well as textbook
publishers and student-focused merchants that serve education
providers and their students.  Blackboard is headquartered in
Washington, D.C., with offices in Scandinavia, United Kingdom
and Ireland.


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


FIAT SPA: Sells 1.83% Equity Stake in Mediobanca for EUR118 Mln
---------------------------------------------------------------
Fiat S.p.A. sold its 1.83% equity stake in Mediobanca S.p.A. to
Goldman Sachs International on Sept. 20, 2007.

The transaction realized a gain of around EUR118 million for
Fiat.

The sale was settled on Sept. 26, 2007.

Goldman Sachs will place the shares with institutional
investors.

                         About Fiat SpA

Headquartered in Turin, Italy, Fiat S.p.A. --
http://www.fiatgroup.com/-- manufactures and sells automobiles,
commercial vehicles, and agricultural and construction
equipment.  Fiat's creditors include Banca Intesa, Banca Monte
dei Paschi di Siena, Banca Nazionale del Lavoro, Capitalia,
Sanpaolo IMI, and UniCredito Italiano.

Fiat operates in Argentina, Australia, Austria, Belgium, Brazil,
Bulgaria, China, Czech Republic, Denmark, France, Germany,
Greece, Hungary, India, Ireland, Italy, Japan, Lituania,
Netherlands, Poland, Portugal, Romania, Russia, Singapore,
Spain, among others.

                            *   *   *

As reported in the TCR-Europe on Aug. 24, 2007, Moody's
Investors Service upgraded to Ba1 from Ba2 Fiat SpA's Corporate
Family Rating, and the group's other long-term senior unsecured
ratings.

At the same time, the positive outlook on all long-term ratings
was maintained.  The short term Not Prime rating remains
unchanged.


PARMALAT SPA: Ex-CEO Tanzi May Face Tax Fraud Charges in Milan
--------------------------------------------------------------
Prosecutors in Milan, Italy, are considering the filing of tax
fraud charges against Parmalat S.p.A. founder and former CEO
Calisto Tanzi, Il Sole 24 Ore reports.

According to the report, the possible charges are related to
premiums from insurance contracts set by Parmalat and brokered
by Bank of America's Italian unit.  The premiums were passed
through Swiss bank accounts to avoid paying tax in Italy.

Mr. Tanzi, along with 15 former group executives and
accountants, is on trial in Milan on charges of market rigging,
false accounting and contravening local stock market laws.

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

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

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

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

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

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


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


AKSU-GOLDEN HOPE: Proof of Claim Deadline Slated for Nov. 6
-----------------------------------------------------------
The Specialized Inter-Regional Economic Court of Pavlodar has
declared LLP Aksu-Golden Hope insolvent on July 11.

Creditors have until Nov. 6 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Pavlodar
         Parkovaya Str. 17
         Pavlodar
         Kazakhstan


ARYS LLP: Creditors Must File Claims Nov. 2
-------------------------------------------
The Specialized Inter-Regional Economic Court of Aktube has
declared LLP Arys insolvent on Aug. 16.

Creditors have until Nov. 2 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Aktube
         Altynsarin Str. 31
         Aktobe
         Aktube
         Kazakhstan
         Tel: 8 (3132) 21-30-32


COMFORTSTROY & CO: Claims Filing Period Ends Nov. 2
---------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan has declared LLP Comfortstroy & Co. insolvent on
July 23.

Creditors have until Nov. 2 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of South Kazakhstan
         Ilyaev Str. 24
         Shymkent
         South Kazakhstan
         Kazakhstan
         Tel: 8 (7252) 54-02-36


ENERGOSTROY-21 VEK: Creditors' Claims Due on Nov. 2
---------------------------------------------------
The Specialized Inter-Regional Economic Court of Aktube has
declared LLP Construction Company Energostroy-21 Vek insolvent
on Aug. 16.

Creditors have until Nov. 2 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Aktube
         Altynsarin Str. 31
         Aktobe
         Aktube
         Kazakhstan
         Tel: 8 (3132) 21-30-32


IRADA LLP: Claims Registration Ends Nov. 7
------------------------------------------
LLP Trade Company Irada has declared insolvency.  Creditors have
until Nov. 7 to submit written proofs of claims to:

         LLP Trade Company Irada
         Ryskulov Str. 133a
         Almaty
         Kazakhstan


MANAL SOKOS: Proof of Claim Deadline Slated for Nov. 2
------------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan has declared LLP Manal Sokos insolvent.

Creditors have until Nov. 2 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of South Kazakhstan
         Ilyaev Str. 24
         Shymkent
         South Kazakhstan
         Kazakhstan
         Tel: 8 (7252) 54-02-36


PARK ATTRAKTSIONOV: Creditors Must File Claims Nov. 2
-----------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty has
declared LLP Park Attraktsionov insolvent on Aug. 10.

Creditors have until Nov. 2 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Almaty
         Dostyk Ave. 44-99
         Almaty
         Kazakhstan
         Tel: 8 (3272) 91-43-47
         8 701 205 30-32


TECHNOGUIDE LLP: Claims Filing Period Ends Nov. 7
-------------------------------------------------
LLP Technoguide has declared insolvency.  Creditors have until
Nov. 7 to submit written proofs of claims to:

         LLP Technoguide
         Abai ave. 4-4
         Aktobe
         Aktube
         Kazakhstan


TEMIRJAN-PV LLP: Creditors' Claims Due on Nov. 6
------------------------------------------------
The Specialized Inter-Regional Economic Court of Pavlodar has
declared LLP Temirjan-PV insolvent on July 12.

Creditors have until Nov. 6 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Pavlodar
         Parkovaya Str. 17
         Pavlodar
         Kazakhstan


WEST VISION: Claims Registration Ends Nov. 2
--------------------------------------------
LLP West Vision has declared insolvency.  Creditors have until
Nov. 2 to submit written proofs of claims to:

         LLP West Vision
         Office One
         Micro District 24
         Aktau
         Mangistau
         Kazakhstan


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


TAZA-AYIL LLC: Creditors Must File Claims by November 7
-------------------------------------------------------
LLC Taza-Ayil has declared insolvency.  Creditors have until
Nov. 7 to submit written proofs of claim to:

         LLC Taza-Ayil
         Beregovaya Str. 22
         Novo-Pokrovka
         Issyk-Atinsky District
         Chui Region
         Kyrgyzstan


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


BIOMET INC: Closes Merger with Private Equity Group
---------------------------------------------------
Biomet Inc. has completed its merger with LVB Acquisition Merger
Sub, Inc., a wholly owned subsidiary of LVB Acquisition, Inc.
LVB Acquisition is indirectly owned by investment partnerships
directly or indirectly advised or managed by The Blackstone
Group L.P., Goldman Sachs & Co., Kohlberg Kravis Roberts & Co.
L.P. and TPG Capital.

Pursuant to the merger, Biomet shareholders (other than LVB
Acquisition Merger Sub, Inc. or LVB Acquisition, Inc.) will
receive US$46.00 in cash, without interest and less any required
withholding taxes, for each outstanding Biomet common share.

Biomet common shares will cease trading on NASDAQ at market
close on Sept. 25, 2007, and will no longer be listed.

Shareholders of Biomet who are the holders of record of Biomet
stock certificates will receive instructions and a letter of
transmittal by mail from American Stock Transfer & Trust
Company, the paying agent for the merger, concerning how and
where to forward their certificates for payment.  For shares
held in "street name" by a broker, bank or other nominee,
shareholders will not need to take any action to have shares
converted into cash, as this will be done by the broker, bank or
other nominee.  Questions about the deposit of merger proceeds
should be directed to the appropriate broker, bank or other
nominee.

                   About The Blackstone Group

The Blackstone Group -- http://www.blackstone.com/-- is a
global alternative asset manager and provider of financial
advisory services.  The Blackstone Group is an independent
alternative asset managers in the world.  Its alternative asset
management businesses include the management of corporate
private equity funds, real estate opportunity funds, funds of
hedge funds, mezzanine funds, senior debt funds, proprietary
hedge funds and closed-end mutual funds.  The Blackstone Group
also provides various financial advisory services, including
mergers and acquisitions advisory, restructuring and
reorganization advisory and fund placement services.

                    About Goldman Sachs & Co.

Founded in 1869, Goldman Sachs is one of the oldest and largest
investment banking firms.  Goldman Sachs is also a global leader
in private corporate equity and mezzanine investing.
Established in 1991, the GS Capital Partners Funds are part of
the firm's Principal Investment Area in the Merchant Banking
Division, which has formed 13 investment vehicles aggregating
US$56 billion of capital to date.

                 About Kohlberg Kravis Roberts

Kohlberg Kravis Roberts & Co. is one of the world's oldest and
most experienced private equity firm specializing in management
buyouts.  Founded in 1976, it has offices in New York, Menlo
Park, London, Paris, Hong Kong, and Tokyo.  Throughout its
history, KKR has brought a long-term investment approach to its
portfolio companies, focusing on working in partnership with
management teams and investing for future competitiveness and
growth. Over the past 30 years, KKR has completed over 150
transactions with a total value of over US$294 billion.

                           About TPG

TPG -- http://www.tpg.com/-- is a private investment
partnership that was founded in 1992 and currently has more than
US$30 billion of assets under management.  With offices in San
Francisco, London, Hong Kong, New York, Minneapolis, Fort Worth,
Melbourne, Menlo Park, Moscow, Mumbai, Shanghai, Singapore and
Tokyo, TPG has extensive experience with global public and
private investments executed through leveraged buyouts,
recapitalizations, spinouts, joint ventures and restructurings.
TPG's investments span a variety of industries including
healthcare, retail/consumer, airlines, media and communications,
industrials, technology and financial services.

                          About Biomet

Headquartered in Warsaw, Indiana, Biomet and its subsidiaries
currently distribute products in more than 100 countries,
including the Netherlands, Argentina and Korea.  Biomet Inc. and
its subsidiaries design, manufacture, and market products used
primarily by musculoskeletal medical specialists in both
surgical and non-surgical therapy.


BIOMET INC: Moody's Puts Corporate Family Rating at B2
------------------------------------------------------
Moody's Investors Service assigned final debt ratings to Biomet
Inc. (B2 Corporate Family Rating) in conjunction with the close
of the leveraged buy-out transaction by a consortium of equity
sponsors.  The rating outlook is negative.

There is no change from the provisional debt ratings that had
previously been assigned.  The provisional (P)B2 CFR reflected
uncertainty about the final terms of the transaction.  Moody's
notes that subsequent to the assignment of provisional ratings
in May 2007, higher interest rates and a revolver draw of about
$130 million (raising incremental debt by about $80 million)
have reduced Biomet's flexibility within the B2 rating.  Also,
as a result, the company's Speculative Grade Liquidity rating
has been changed to an SGL-3 from an SGL-2, which was assigned
in conjunction with the provisional ratings.

Diana Lee, a Senior Credit Officer at Moody's said, "Higher
borrowing costs and the need to use the revolver eliminate any
cushion that may have been available to the company.  As a
result, performance below expectations will have greater
potential to trigger a downgrade."

Ratings assigned with a negative outlook:

Biomet, Inc.

-- Corporate Family Rating at B2

-- $350 Million Asset backed revolver at Ba2, (LGD2, 13%)

-- $400 Million Secured cash flow revolver at B1, (LGD3, 36%)

-- $3.547 Billion Secured term loan at B1, (LGD3, 36%)

-- $775 Million Unsecured senior notes or bridge loan at B3,
    (LGD4, 63%)

-- $775 Million Unsecured PIK option notes or bridge loan at
    B3, (LGD4, 63%)

-- $1.015 Billion Unsecured subordinated notes or bridge loan
    at Caa1, (LGD6, 93%)

-- PDR at B2

Rating changed:

-- Speculative grade liquidity rating: SGL-3 from SGL-2

Moody's believes that Biomet's very high leverage and weak
financial strength and financial policy ratios - some of which
are positioned in the "Caa" category - are a key credit risk. In
particular, interest coverage is negligible and the company's
ability to repay a significant portion of its debt with cash
flow is extremely limited.  While there are no financial
covenants in the revolving bank agreements, there is material
adverse change representation and warranty language.

The presence of external liquidity sources as well as equity
sponsors that have committed significant capital (of about
$5.4 billion) lower the likelihood of default for the near term,
and should provide management more time to improve free cash
flow.  The B2 CFR also considers the company's size and the
fairly stable nature of the orthopedic industry, which is
expected to continue to benefit from steady demand.  As a
result, Moody's believes that the B2 CFR is appropriate even
though leverage (estimated at about 9 times pro forma
Debt/EBITDA based on year end May 31, 2007 financial statements)
and coverage measures (estimated at 1.1 times pro forma
EBITA/interest) are more consistent with lower ratings.

The rating outlook is negative, reflecting Biomet's weak
position in the B2 category due primarily to Moody's concerns
regarding the high level of debt.  Moody's believes that the
company will need to see operating improvements as well as grow
at industry rates in order to meaningfully de-leverage over the
next 12-24 months.

Biomet's SGL-3 rating reflects weak free cash flow, balanced by
substantial external liquidity.  Following the initial draw,
Biomet is expected to have about $620 million of capacity under
two secured bank revolvers.

                          About Biomet

Headquartered in Warsaw, Indiana, Biomet and its subsidiaries
currently distribute products in more than 100 countries,
including the Netherlands, Argentina and Korea.  Biomet Inc. and
its subsidiaries design, manufacture, and market products used
primarily by musculoskeletal medical specialists in both
surgical and non-surgical therapy.


RADNOR HOLDINGS: Court Extends Solicitation Period to January 14
----------------------------------------------------------------
The United States Bankruptcy Court for the District of Delaware
further extended Radnor Holdings Corp. and its debtor-
affiliates' exclusive period to solicit acceptances of their
plan of reorganization until Jan. 14, 2008.

As the reported in Troubled Company Reporter on Sept. 11, 2007,
the Debtors reminded the Court that they have filed a Joint Plan
of Liquidation and Disclosure Statement on April 30, 2007.  They
requested an extension of their plan solicitation period because
they, along with their advisors, are continuing to negotiate and
finalize the terms of the plan with the asset sale purchaser and
the Official Committee of Unsecured Creditors, ultimately
confirming the plan without prejudicing any party of interest.

The Debtors related that they have made significant, good-faith
progress in resolving many of the issues facing the Debtors'
estates, including:

   (i) certain disputes among the Debtors, the Committee and
       Tennenbaum Capital Partners, LLC regarding, among other
       things, the sale and the amount and validity of claims
       filed by Tennenbaum on behalf of itself and its
       affiliates Special Value Expansion Fund, LLC and Special
       Value Opportunities Fund, LLC;

  (ii) the ultimate disposition of the Debtors' assets through
       a sale; and

(iii) the priority and payment of millions of dollars in
       professional fees and expenses that have been asserted
       to date by the Committee's professionals.

Based in Radnor, Pennsylvania, Radnor Holdings Corporation --
http://www.radnorholdings.com/-- manufactured and
distributed a broad line of disposable food service products in
the United States, and specialty chemicals worldwide.  The
Debtor and its affiliates filed for chapter 11 protection on
Aug. 21, 2006 (Bankr. D. Del. Lead Case No. 06-10894).  Gregg M.
Galardi, Esq., Mark L. Desgrosseilliers, Esq., Sarah E. Pierce,
Esq., Timothy R. Pohl, Esq., Patrick J. Nash, Jr., Esq., and
Rena M. Samole, Esq., at Skadden, Arps, Slate, Meagher & Flom,
LLP, represent the Debtors.  Donald J. Detweiler, Esq., and
Victoria Watson Counihan, Esq., at Greenberg Traurig, LLP, serve
the Official Committee of Unsecured Creditors.  When the Debtors
filed for protection from their creditors, they listed total
assets of $361,454,000 and total debts of $325,300,000.


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


DEBESSKAYA OIL: Creditors Must File Claims by Nov. 8
----------------------------------------------------
Creditors of CJSC Debesskaya Oil have until Nov. 8 to submit
proofs of claim to:

         R. Gibadullin
         Insolvency Manager
         Post User Box 3497
         Izhevsk
         426034 Udmurtiya
         Russia

The Arbitration Court of Udmurtiya commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A71-5602/2007-G26.

The Court is located at:

         The Arbitration Court of Udmurtiya
         Lomonosova Str. 5
         Izhevsk
         426004 Udmurtiya
         Russia

The Debtor can be reached at:

         CJSC Debesskaya Oil
         Androsova Str. 78
         Debesy
         Udmurtiya
         Russia


ELECTROPLATING OJSC: Creditors Must File Claims by Nov. 8
---------------------------------------------------------
Creditors of OJSC Electroplating have until Nov. 8 to submit
proofs of claim to:

         Y. Barbolin
         Insolvency Manager
         Apartment 536
         Bazarnaya Str. 115/59
         Tambov
         Russia

The Arbitration Court of Tambov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A64-940/07-21.

The Debtor can be reached at:

         OJSC Electroplating
         Morshanskoe Shosse 21
         Tambov
         Russia


GELENDZHIK LLC: Creditors Must File Claims by Oct. 8
----------------------------------------------------
Creditors of LLC Building–Engineering Company Gelendzhik (TIN
2304037888) have until Oct. 8 to submit proofs of claim to:

         S. Uleev
         Temporary Insolvency Manager
         Pushkina Str. 47/1
         350063 Krasnodar
         Russia

The Arbitration Court of Krasnodar will convene on Nov. 20 to
hear the company's bankruptcy supervision procedure.  The case
is docketed under Case No. A-32-13539/2007-1/390 B.

The Court is located at:

         The Arbitration Court of Krasnodar
         Krasnaya Str. 6
         Krasnodar
         Russia

The Debtor can be reached at:

         LLC Building–Engineering Company Gelendzhik
         Khersonskaya Str. 2
         Geledzhik
         Russia


KASHIRSKIY FLOUR: Moscow Bankruptcy Hearing Slated for Nov. 27
--------------------------------------------------------------
The Arbitration Court of Moscow will convene on Nov. 27 to hear
the bankruptcy supervision procedure on OJSC Kashirskiy Flour
Mill.  The case is docketed under Case No. A41-K2-11830/07.

The Temporary Insolvency Manager is:

         L. Vlasov
         Gorodskoj Pos. Str. 4
         Kashira
         142900 Moscow
         Russia

The Court is located at:

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

The Debtor can be reached at:

         L. Vlasov
         Gorodskoj Pos. Str. 4
         Kashira
         142900 Moscow
         Russia


KULIKOVSKOE LLC: Creditors Must File Claims by Nov. 8
-----------------------------------------------------
Creditors of LLC Kulikovskoe have until Nov. 8 to submit proofs
of claim to:

         R. Rumyantsev
         Insolvency Manager
         Aviastroitelej 4-2
         Novosibirsk
         Russia

The Arbitration Court of Novosibirsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A45-2526/07-54/22.

The Court is located at:

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

The Debtor can be reached at:

         LLC Kulikovskoe
         Kulikovskoe
         Chulymskiy
         Novosibirsk
         Russia


NEW STYLE: Creditors Must File Claims by Oct. 8
-----------------------------------------------
Creditors of LLC New Style (TIN 6674177020) have until Oct. 8 to
submit proofs of claim to:

         V. Stepanchenko
         Insolvency Manager
         Post User Box 27
         620098 Ekaterinburg
         Russia

The Arbitration Court of Sverdlovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A60-13942/2007-S11.

The Court is located at:

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

The Debtor can be reached at:

         LLC New Style
         Rodonitovaya Str. 23
         620089 Ekaterinburg
         Russia


NOVATEK OAO: Fitch Upgrades Ratings to BB on Strong Performance
---------------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term
corporate credit rating on OAO NOVATEK, Russia's largest
independent gas producer, to 'BB' from 'BB-', following a review
of the company's first-half 2007 performance.  The outlook is
positive.

At the same time, the Russia national scale rating was raised to
'ruAA' from 'ruAA-'.

"The upgrade reflects Novatek's strong financial metrics, with
no net debt and strong profitability, and the gradually
improving fundamentals of the Russian gas industry," said
Standard & Poor's credit analyst Elena Anankina.

In the first half of 2007, Novatek's EBITDA margin was a strong
47%, as gradually increasing domestic gas prices more than
offset growth in transportation costs and taxes other than
income.  Free operating cash flow was positive (RUR4.2 billion),
despite an increase in capital expenditure to RUR6.4 billion as
the company proceeds with its plan to invest in future
production growth.  At June 30, 2007, Novatek had RUR1.7 billion
in debt (RUR2.0 billion if pension-adjusted), versus
RUR7.7 billion cash.

Russian gas industry risks (notably very low domestic gas prices
and operational dependence on the pipelines of government-
controlled OAO Gazprom; BBB/Stable/--), remain the key
constraints on the rating on Novatek.  Nevertheless, the
company's very low cost position and a degree of diversification
between natural gas, gas condensate, and crude oil help to
offset those risks.

Novatek's prices are not regulated, but indirectly pegged to
Gazprom's, which are set very low by the regulator.  Although
Novatek cannot export gas, its exposure to downside price
fluctuations is effectively limited by the semiregulated nature
of the industry.  The government's plan to more than double
regulated gas prices to US$125 per thousand cubic meters by 2011
provides a good benchmark for Novatek to increase its price
realizations.

Novatek has a good working relationship with Gazprom, the
dominant player in the Russian gas industry with 85% of the
country's gas production, ownership of the pipelines, and a
monopoly on export.  The risks related to Gazprom's privileged
position are mitigated by Gazprom's fundamental interest in
having smaller independent players like Novatek satisfy growing
domestic demand at low prices, so that Gazprom can use a higher
share of its stable production for profitable export.  Gazprom's
19% stake in Novatek gives it some influence on the company's
strategy.

Novatek's purchase of a 25% interest in several gas fields in
the third quarter of 2007 for RUR1.2 billion, demonstrates the
company's ability to make smaller acquisitions to support its
growth prospects.  Still, Novatek remains a relatively small
player, with only 4% of Russia's gas production and a
geographically concentrated reserve base.

Fitch expects that the rating on Novatek could be raised by one
notch in the next 12 months, as Novatek continues to benefit
from the fundamental improvements in the Russian gas industry.
In particular, we will focus on how the government's plan to
raise domestic gas prices is implemented in 2007-2008.

The rating upside also factors in our expectation that Novatek
will retain its competitive cost position, successfully manage
its capital expenditure program, continue its mutually
beneficial cooperation with Gazprom, and stick to its prudent
financial policy to keep net debt below annual EBITDA, despite
an expected increase in capital expenditures and the recent
increase in dividends to about 31% of net income (compared with
a 15% minimum target level).

Because capital expenditures are mainly growth oriented, Fitch
expects Novatek to adjust them in line with market demand and
pipeline infrastructure availability.  Fitch also expects that
Novatek's capital expenditures will be targeted first at
infrastructure, so that 2007 production volumes should be
broadly flat, with the bulk of the resulting production growth
occurring after 2008.

Adverse changes in regulations or evidence of heightened
operational risk from Gazprom (although we don't consider this
to be a base case scenario) could constrain the rating upside or
even pressure the rating or outlook.


ORBITA-AGRO CJSC: Creditors Must File Claims by Oct. 8
------------------------------------------------------
Creditors of CJSC Orbita-Agro (TIN 2801050021) have until Oct. 8
to submit proofs of claim to:

         A. Kasaev
         Temporary Insolvency Manager
         Vyazemskaya Str. 1-82
         680022 Khabarovsk
         Russia

The Arbitration Court of Amur commenced bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
A04-4747/2007-6/244 B.

The Debtor can be reached at:

         CJSC Orbita-Agro
         Muravyevka
         Tambovskiy
         Amur
         Russia


POLIEL CJSC: Creditors Must File Claims by Nov. 8
-------------------------------------------------
Creditors of CJSC Poliel (TIN 5262102760) have until Nov. 8 to
submit proofs of claim to:

         M. Udaltsova
         Insolvency Manager
         Post User Box 59
         603086 Nizhniy Novgorod
         Russia

The Arbitration Court of Nizhniy Novgorod commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A43-1840/2007, 33-15.

The Court is located at:

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

The Debtor can be reached at:

         CJSC Poliel
         Genkinoj Str. 102
         Nizhniy Novgorod
         Russia


ROSNEFT OIL: Debut Bond Placement Slated for November
-----------------------------------------------------
OAO Rosneft Oil Co. is not ready to issue a RUR15 billion bond
before November 2007, various reports say citing a source close
to the placement's organizers.

"Rosneft has not yet submitted the bond prospectus for
registration and this will take 30 days," the source told
Interfax News.

A source told Kommersant that Rosneft will place the first issue
in late November or early December depending on the market
conditions.

Kommersant relates that the bonds will not likely be convertible
and will mature after five to 10 years, with put-or-call
options.

The bonds issue is the first of a RUR45 billion three-tranche
placement announced by Rosneft in September.  The proceeds will
be used to repay loans used to acquire the bankrupt assets of
OAO Yukos Oil Co.

According to RIA Novosti, Rosneft will issue the bonds in three
tranches of equal sizes with maturities of not more than seven
years.  Rosneft will issue the first tranche this year and the
next two tranches in 2008.

Rosneft has hired Troika Dialog, Gazprombank and VTB to organize
the placement.

                          About Rosneft

Headquartered in Moscow, Russia, OAO Rosneft Oil Co. --
http://www.rosneft.com/-- produces and markets petroleum
products.  The Company explores for, extracts, refines and
markets oil and natural gas.  Rosneft produces oil in Western
Siberia, Sakhalin, the North Caucasus, and the Arctic regions of
Russia.

                            *   *   *

As of July 17, 2007, OAO Rosneft Oil Co. carries a BB+ long-term
corporate credit rating from Standard & Poor's Ratings Services.
S&P said the outlook is positive.


ROSNEFT OIL: Vladimir Putin Denies Rosneft-Gazprom Merger Plan
--------------------------------------------------------------
Russian President Vladimir Putin dispelled reports that state-
owned companies OAO Rosneft Oil Co. and OAO Gazprom will merge,
Business News Europe says.

"I don't think we should create a monster that will dominate all
economy of Russia and that, as a vacuum cleaner, will be pumping
out all resources, including financial ones," Mr. Putin was
quoted by BNE as saying.

According to the report, Mr. Putin noted that Russian companies
should expand not through a merger but rather by increasing
their capitalization.

The president added that Russia would not restrict growth in the
oil and gas industries, but will help expand output to meet
demand, BNE relates.

                          About Rosneft

Headquartered in Moscow, Russia, OAO Rosneft Oil Co. --
http://www.rosneft.com/-- produces and markets petroleum
products.  The Company explores for, extracts, refines and
markets oil and natural gas.  Rosneft produces oil in Western
Siberia, Sakhalin, the North Caucasus, and the Arctic regions of
Russia.

                            *   *   *

As of July 17, 2007, OAO Rosneft Oil Co. carries a BB+ long-term
corporate credit rating from Standard & Poor's Ratings Services.
S&P said the outlook is positive.


ROSSA CJSC: Creditors Must File Claims by Oct. 8
------------------------------------------------
Creditors of CJSC Insurance Company Rossa (TIN 4823001173) have
until Oct. 8 to submit proofs of claim to:

         V. Khlusov
         Insolvency Manager
         Dovatora Str. 12, 200
         398024 Lipetsk
         Russia

The Arbitration Court of Lipetsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A36-356-B/1-02.

The Court is located at:

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

The Debtor can be reached at:

         V. Khlusov
         Insolvency Manager
         Dovatora Str. 12, 200
         398024 Lipetsk
         Russia


SITEKH CJSC: Creditors Must File Claims by Oct. 8
-------------------------------------------------
Creditors of CJSC Building Company Sitekh have until Oct. 8 to
submit proofs of claim to:

         Y. Makarova
         Temporary Insolvency Manager
         Office 400
         Nikitina Str. 20
         630009 Novosibirsk
         Russia

The Arbitration Court of Moscow will convene on Jan. 23, 2008 to
hear the company's bankruptcy supervision procedure.  The case
is docketed under Case No. A45-6368/07-4/20.

The Court is located at:

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

The Debtor can be reached at:

         Y. Makarova
         Temporary Insolvency Manager
         Office 400
         Nikitina Str. 20
         630009 Novosibirsk
         Russia


STRELETS LLC: Creditors Must File Claims by Oct. 8
--------------------------------------------------
Creditors of LLC Fish Catching Company Strelets have until
Oct. 8 to submit proofs of claim to:

         D. Vasilenko
         Temporary Insolvency Manager
         Telmana Str. 38
         Petropavlovsk-Kamchatskiy
         683024 Kamchatka
         Russia

The Arbitration Court of Kamchatka commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. A24-1239/07-16.

The Debtor can be reached at:

         D. Vasilenko
         Temporary Insolvency Manager
         Telmana Str. 38
         Petropavlovsk-Kamchatskiy
         683024 Kamchatka
         Russia


USEC INC: S&P Junks Rating on US$500MM Convertible Senior Notes
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'CCC' senior
unsecured rating to USEC Inc.'s $500 million 3% convertible
senior unsecured notes due Oct. 1, 2014.  At the same time, S&P
affirmed its 'B-' corporate credit rating on the company.  The
outlook is negative on Bethesda, Maryland-based USEC, a leading
supplier of low enriched uranium.

Proceeds from the offering, which is expected to close on
Sept. 28, 2007, combined with a common stock offering, will be
used to help fund the development of a highly efficient
centrifuge facility in Ohio, American Centrifuge, and for
general corporate purposes.

Pro forma for the sale of the notes, total long-term debt
outstanding will be about $650 million.

"The negative outlook reflects the threat to USEC's competitive
position posed by LES and by technology uncertainty," said
Standard & Poor's credit analyst Marie Shmaruk.  "We could lower
the ratings if USEC's new technology proves commercially
unviable, liquidity declines substantially, or Russia terminates
the Russian Suspension Agreement, under which USEC buys enriched
uranium from Russia.  S&P are unlikely to raise the ratings
before there is further certainty about the funding and
commercial viability of the new enrichment facility."

                         About USEC Inc.

Headquartered in Bethesda, Maryland, USEC, Inc. (NYSE: USU) --
http://www.usec.com/-- is a global supplier of low enriched
uranium to nuclear power plants and is the exclusive executive
agent for the U.S. Government under the Megatons to Megawatts
program with Russia.


VERKHOVINO CJSC: Court Names A. Kublikov as Insolvency Manager
--------------------------------------------------------------
The Arbitration Court of Kirov appointed A. Kublikov as
Insolvency Manager for CJSC Verkhovino.  He can be reached at:

         A. Kublikov
         Orlovskaya Str. 14-1
         610002 Kirov
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A28-65/07-17/20.

The Court is located at:

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

The Debtor can be reached at:

         CJSC Verkhovino
         Sychugova Str. 29
         Verkhovino
         Yuryanskiy
         613640 Kirov
         Russia


WORLD OF YUGRAMYSHSKIY: Creditors Must File Claims by Oct. 8
------------------------------------------------------------
Creditors of CJSC World of Yugramyshskiy Region have until
Oct. 8 to submit proofs of claim to:

         Y. Butyugin
         Insolvency Manager
         Office 3
         Popova Str. 28
         Belozervskoe
         641360 Kurgan
         Russia

The Arbitration Court of Kurgan commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A34-2468/2007.

The Court is located at:

         The Arbitration Court of Kurgan
         Sovetskaya Str. 192
         640003 Kurgan
         Russia

The Debtor can be reached at:

         Y. Butyugin
         Insolvency Manager
         Office 3
         Popova Str. 28
         Belozervskoe
         641360 Kurgan
         Russia


ZIBOROVSKOE CJSC: Creditors Must File Claims by Oct. 8
------------------------------------------------------
Creditors of CJSC Ziborovskoe have until Oct. 8 to submit proofs
of claim to:

         I. Shtejnikov
         Insolvency Manager
         Tsentralnaya Str. 31
         Tavrovo-2
         308504 Belgorod
         Russia

The Arbitration Court of Belgorod commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. A08-3 727/07-14.

The Court is located at:

         The Arbitration Court of Belgorod
         Narodnyj Avenue 135
         308600 Belgorod
         Russia

The Debtor can be reached at:

         CJSC Ziborovskoe
         Tsentralnaya Str. 31
         Tavrovo-2
         308504 Belgorod
         Russia


===========
S W E D E N
===========


FORD MOTOR: Terra Firma Eyes Jaguar & Land Rover Brands
-------------------------------------------------------
Terra Firma Capital Partners Limited has joined the bid for Ford
Motor Company's Jaguar and Land Rover brands as Guy Hands,
Terra's head, requested Thursday for Ford's sale documents and
started to accomplish due diligence for the bid, the Financial
Times reports, citing people familiar with the matter.

Ford, according to the report, expects indicative bids this
month.  The car maker seeks to finalize the sale deal by
December or early next year.

As reported by Reuters last week, citing sources familiar with
the matter, Ford's Jaguar and Land Rover brands still has four
potential buyers left after two Indian firms, Mahindra &
Mahindra and Cerberus, quit the buying race.

The four remaining suitors, according to Reuters' sources, are
One Equity Partners, Ripplewood, Tata Motors and TPG, but these
firms are yet to complete the due diligence.

The Troubled Company Reporter said June 13, 2007, that Ford
employed help from investment banks including Goldman Sachs,
HSBC and Morgan Stanley to explore the sale of its two British
luxury brands, which had lost US$12.6 billion last year.

In August, an International Herald Tribune report said Ford's
financial and legal advisers have begun preparing information to
facilitate due diligence for potential bidders of the two
marques as Ford hopes to reach a tentative deal by the end of
September.

Ford expects to finalize the sale deal by December or the early
stages of Fiscal Year 2008, Lewis Booth, EVP of Ford's European
units, said, according to Breaking News.ie.

                      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 Troubled Company Reporter on July 30, 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.

In June 2007, S&P raised the Issue Rating on Ford's senior
secured credit facilities to B+ from B.


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


ALFRED WALTER: Creditors' Liquidation Claims Due Oct. 10
--------------------------------------------------------
Creditors of JSC Alfred Walter have until Oct. 10 to submit
their claims to:

         Peter Walter
         Liquidator
         Breiteweg 10
         8966 Lieli
         Switzerland

The Debtor can be reached at:

         JSC Alfred Walter
         P. Walter
         8966 Oberwil-Lieli
         Switzerland


ATORAN JSC: Zug Court Starts Bankruptcy Proceedings
---------------------------------------------------
The Bankruptcy Court of Zug commenced bankruptcy proceedings
against JSC Atoran on Aug. 14.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC Atoran
         6300 Zug
         Switzerland


APPSO LLC: Creditors' Liquidation Claims Due October 10
-------------------------------------------------------
Creditors of LLC APPSO have until Oct. 10 to submit their claims
to:

         Uta Scharfenberger Stubi
         Liquidator
         Santihansweg 14
         3186 Dudingen
         Switzerland

The Debtor can be reached at:

         LLC APPSO
         Dudingen FR
         Switzerland


B+B TAXI: Creditors' Liquidation Claims Due October 10
------------------------------------------------------
Creditors of LLC B+B Taxi & Transporte have until Oct. 10 to
submit their claims to:

         Peter Barben
         Liquidator
         Thalmatt 10
         3037 Herrenschwanden
         Switzerland

The Debtor can be reached at:

         LLC B+B Taxi & Transporte
         Muri b. Bern
         Switzerland


CAFFE PER TUTTI: Zug Court Starts Bankruptcy Proceedings
--------------------------------------------------------
The Bankruptcy Court of Zug commenced bankruptcy proceedings
against JSC Caffe per tutti on Aug. 16.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC Caffe per tutti
         Blegi 14
         6343 Rotkreuz
         Gemeinde Risch
         Switzerland


CORA LLC: Creditors' Liquidation Claims Due October 10
------------------------------------------------------
Creditors of LLC CORA have until Oct. 10 to submit their claims
to:

         Christian Schneider
         Liquidator
         Seebachstrasse 64
         8052 Zurich
         Switzerland

The Debtor can be reached at:

         LLC CORA
         Reinach AG
         Switzerland


PROVINZCLUB LLC: Creditors' Liquidation Claims Due October 10
-------------------------------------------------------------
Creditors of LLC Provinzclub have until Oct. 10 to submit their
claims to:

         Georg Sulzer
         Liquidator
         Usterstrasse 134
         8620 Wetzikon
         Switzerland

The Debtor can be reached at:

         LLC Provinzclub
         Wetzikon ZH
         Switzerland


ROBINSON RESEARCH: Zug Court Closes Bankruptcy Proceedings
----------------------------------------------------------
The Bankruptcy Court of Zug entered Aug. 31 an order closing the
bankruptcy proceedings of JSC Robinson Research.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC Robinson Research
         6300 Zug
         Switzerland


SUNBAY SOFTWARE: Thalwil Court Closes Bankruptcy Proceedings
------------------------------------------------------------
The Bankruptcy Court of Thalwil entered Aug. 28 an order closing
the bankruptcy proceedings of JSC Sunbay Software.

The Bankruptcy Service of Thalwil can be reached at:

         Bankruptcy Service of Thalwil
         8800 Thalwil
         Switzerland

The Debtor can be reached at:

         JSC Sunbay Software
         Seestr. 78
         8803 Ruschlikon
         Switzerland


TEXTILREINIGUNG DIPPOLD: Liquidation Claims Due October 10
----------------------------------------------------------
Creditors of LLC Textilreinigung Dippold have until Oct. 10 to
submit their claims to:

         Austrasse 2
         4153 Reinach
         Switzerland

The Debtor can be reached at:

         LLC Textilreinigung Dippold
         Reinach BL
         Switzerland


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


ALIYE PARUSA: Mykolaiv Economic Court Declares Company Bankrupt
---------------------------------------------------------------
The Mykolaiv Regional Economic Court has declared Ukrainian
perfume plant OJSC Aliye Parusa bankrupt on Aug. 15, 2007, The
Financial Times reports, citing Interfax News as its source.

Subsequently, the court initiated liquidation proceedings
against Aliye Parusa.  Volodymyr Aymedov has been appointed
liquidator.

According to the report, the court commenced the perfume plant's
bankruptcy case in spring 2007 at the request of the State Tax
Inspection of Zavodsky district.

At the end of 2004 Aliye Parusa incurred a loss of UAH6.23
million after Russian perfumery producer OJSC Kalina concern
sold an 84% stake in the company in September 2003, FT relates.


CONSULTING-CENTER LLC: Proofs of Claim Deadline Set October 3
-------------------------------------------------------------
Creditors of LLC Consulting-Center (code EDRPOU 32204565) have
until Oct. 3 to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as 15/605-b.

The Debtor can be reached at:

         LLC Consulting-Center
         Alisher Navoya Str. 76
         02125 Kiev
         Ukraine


DOKA-TECHNO LLC: Proofs of Claim Deadline Set October 3
-------------------------------------------------------
Creditors of LLC Doka-Techno (code EDRPOU 34540616) have until
Oct. 3 to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as 15/609-b.

The Debtor can be reached at:

         LLC Doka-Techno
         Malogvardeyskaya Str. 11
         03151 Kiev
         Ukraine


ENERGODAR BAKERY: Proofs of Claim Deadline Set October 3
--------------------------------------------------------
The Economic Court of Zaporozhje commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed as 5/4/330(02).

Creditors of OJSC Energodar Bakery Plant (code EDRPOU 05583928)
have until Oct. 3 to submit written proofs of claim to:

         Radion Kravchenko
         Liquidator
         Skifskaya Str. 18, ap. 17
         Energodar
         71504 Zaporozhje
         Ukraine

The Court is located at:

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

The Debtor can be reached at:

         OJSC Energodar Bakery Plant
         Komunalnaya Str. 14-a
         Energodar
         71500 Zaporozhje
         Ukraine


FPG SYNTHESE: Proofs of Claim Deadline Set October 3
----------------------------------------------------
Creditors of LLC FPG Synthese (code EDRPOU 3449161) have until
Oct. 3 to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as 15/610-b.

The Debtor can be reached at:

         LLC FPG Synthese
         Iziumskaya Str. 7
         03039 Kiev
         Ukraine


HIGH PROJECT: Proofs of Claim Deadline Set October 3
----------------------------------------------------
Creditors of LLC Special Building High Project (code EDRPOU
34348590) have until Oct. 3 to submit written proofs of claim
to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as 15/608-b.

The Debtor can be reached at:

         LLC Special Building High Project
         Patrice Lumumba Str. 15-a
         01042 Kiev
         Ukraine


MASS MEDIA INVEST: Proofs of Claim Deadline Set October 3
---------------------------------------------------------
Creditors of LLC Mass Media Invest Group (code EDRPOU 33591887)
have until Oct. 3 to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as 15/606-b.

The Debtor can be reached at:

         LLC Mass Media Invest Group
         Borschagovskaya Str. 182-B
         03058 Kiev
         Ukraine


PRIVATE PROJECT: Proofs of Claim Deadline Set October 3
-------------------------------------------------------
Creditors of LLC Private Project (code EDRPOU 32204570) have
until Oct. 3 to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as 15/604-b.

The Debtor can be reached at:

         LLC Private Project
         Kakhovskaya Str. 71-a
         02002 Kiev
         Ukraine


PROFI BUILDING: Proofs of Claim Deadline Set October 3
------------------------------------------------------
Creditors of LLC Profi Building Master (code EDRPOU 33096873)
have until Oct. 3 to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as 15/607-b.

The Debtor can be reached at:

         LLC Profi Building Master
         Novovokzalnaya Str. 39
         03038 Kiev
         Ukraine


TRADE ALIANCE: Proofs of Claim Deadline Set October 3
-----------------------------------------------------
Creditors of LLC Trade Aliance (code EDRPOU 32977526) have until
Oct. 3 to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as 15/603-b.

The Debtor can be reached at:

         LLC Trade Aliance
         M. Vasilenko Str. 7-A
         03124 Kiev
         Ukraine


V.T.F. LLC: Proofs of Claim Deadline Set October 3
--------------------------------------------------
Creditors of LLC V.T.F. (code EDRPOU 32955811) have until Oct. 3
to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed as 15/611-b.

The Debtor can be reached at:

         LLC V.T.F.
         M. Vasilenko Str. 7-a
         03124 Kiev
         Ukraine


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


ADVANCED MARKETING: Court Approves Joint Disclosure Statement
-------------------------------------------------------------
The United States Bankruptcy Court for the District of Delaware
has approved the Disclosure Statement describing the Joint Plan
of Liquidation filed by Debtors Advanced Marketing Services
Inc., Publishers Group Incorporated and Publishers Group West
Incorporated, along with the Official Committee of Unsecured
Creditors.

At the September 26, 2007 hearing, Judge Sontchi found that the
Disclosure Statement, as amended, contains "adequate
information" as required by Section 1125 of the Bankruptcy Code,
Bloomberg News reported.

Judge Sontchi said at the hearing that creditors whose debt is
not backed by collateral will be paid from $0.29 to $0.42,
according to Bloomberg.

Pursuant to the Court-approved Disclosure Statement, the
unsecured creditors, which are owed between $29,000,000 and
$36,000,000, and all others who receive only partial payment of
what they are owed, are allowed to vote on the Liquidating Plan
before the Court decides whether it should be confirmed.  In
addition, secured creditors, whose debts are guaranteed by
collateral, will be paid in full.  Unsecured creditors of PGW
will be paid in full on debts up to $11,000,000.

The funds to be used to pay AMS' debts will come from the sale
of most of the Debtor's assets to its competitor, Baker &
Taylor, Inc., according to Bloomberg.

Baker & Taylor agreed in March to buy the AMS assets for
$20,000,000 in cash, plus an amount to be based on the value of
the AMS debts and book inventory.  Baker & Taylor has paid
$57,800,000 under its original Asset Purchase Agreement with
AMS.

The Debtors and the Committee also delivered at the September 26
hearing a copy of their Second Amended Plan of Liquidation and
accompanying Disclosure Statement to add specific provisions
with respect to the Reclamation Claims and the 20 Day
Administrative Claims filed against AMS, which are allowed as
Administrative Claims pursuant to Sections 502 and 503 of the
Bankruptcy Code and Rule 9019 of the Federal Rules of Bankruptcy
Procedure.

A blacklined copy of the Second Amended Liquidating Plan is
available for free at http://researcharchives.com/t/s?23c4

A blacklined copy of the Second Amended Disclosure Statement is
available for free at http://researcharchives.com/t/s?23c5

The Second Amended Liquidating Plan provides that each of those
claims may be reduced dollar for dollar for returns of goods up
to a certain current amount reflecting the goods in possession
of the Debtors at or about the time of the report for each
claim.

A schedule of the Reclamation Claims and their approved current
amounts is available at no charge at:

             http://researcharchives.com/t/s?23c6

Judge Sontchi has directed the creditors to submit their votes
on the Plan by November 6.

Creditors whose claims are being objected to are not eligible to
vote unless such objections are resolved in their favor or, the
claims are temporarily allowed by the Court for the purpose of
voting to accept or reject the Plan.

The Plan Proponents believe that the Liquidating Plan is in the
best interests of the creditors and is fair and equitable, and,
accordingly, are encouraging the creditors to vote in favor of
the Plan.

The Court will convene a hearing on November 15 to consider
confirmation of the Plan.

Curtis R. Smith, Chief Executive Officer of AMS, stated in Court
filings that upon entry of the Plan Confirmation Order, the cash
and assets of the Deferred Compensation Trust will be
transferred to Reorganized AMS and will become property of the
AMS estate and avaiable for distribution to holders of Allowed
Unsecured Claims against AMS.  Individuals who contributed to
the Deferred Compensation Plan will be treated as holders of
Unsecured Claims against AMS.

William C. Sinnott of Random House Inc., Chairman of the
Creditors Committee, added that on or before the Plan's
substantial consummation, the Plan Proponents may file with the
Court certain agreements or other documents as may be necessary
or appropriate to effectuate and further evidence the terms and
conditions of the Plan.

                     About Advanced Marketing

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

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors.  When the Debtors filed for protection from
their creditors, they listed estimated assets and debts of more
than $100 million.

On Aug. 24, 2007, the Debtors and the Committee filed their
joint Plan and Disclosure Statement, which were twice amended in
September 2006.  The Court approved the Disclosure Statement
on Sept. 26, and scheduled the hearing to consider confirmation
of the Plan on Nov. 15, 2007.  (Advanced Marketing Bankruptcy
News, Issue No. 20; Bankruptcy Creditors' Service Inc.;
http://bankrupt.com/newsstand/or 215/945-7000).


ADVANCED MARKETING: Has Until Sept. 30 to Decide on Two Leases
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware extends
until Sept. 30, 2007, the deadline for Advanced Marketing
Services, Inc. and its debtor-affiliates to elect to assume,
assume and assign or reject the Berkeley Lease and the New York
Lease under Section 365(d)(4)(A) of the Bankruptcy Code.

Entry of the Order will be subject to and without prejudice to
the Debtors' rights to seek further extensions of the Lease
Decision Period.

As of September 4, 2007, Debtors Advanced Marketing Services,
Inc., Publishers Group Incorporated, and Publishers Group West
Incorporated are parties to three non-residential real property
leases:

Party to    Location         Location       Date of
the Lease   Description      Address        Lease     Landlord
---------   -----------      -------        -------   --------
AMS         Indianapolis,    Indianapolis   3/25/04   The
           IN - Return                               Prudential
           Center                                    Company
                                                     of America

PGI         PGW - New York   New York,     11/17/87
841-853
                            NY                       Broadway
                                                     Associates

PGI         PGW - Berkeley   Berkeley,      4/24/97   Demo
4th
                            CA                       Street
                                                     Berkeley
                                                     LLC

Under Section 356(d)(4)(B)(ii), the Debtors ask the Court to
extend the period within which they may assume or reject the
Berkeley Lease and the New York Lease through and including
Sept. 30, 2007.

Mark D. Collins, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, tells Judge Sontchi that the Debtors have
either obtained prior written consent of the lessors of each of
the Berkeley Lease and the New York Lease to the extension of
the Lease Decision Period or expect to do so before the
September 26 hearing of the Motion.

Mr. Collins relates that Perseus Books LLC and the Debtors are
in discussions regarding the assumption by Perseus of the
Berkeley Lease and the New York Lease.  The Debtors expect to
file a motion to assume and assign both Leases promptly, and
thus seek extension with respect to the Leases to consummate
that transaction.

The Debtors anticipate completing the transaction prior to the
end of September.

                     About Advanced Marketing

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

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors.

When the Debtors filed for protection from their creditors, they
listed estimated assets and debts of more than $100 million.
(Advanced Marketing Bankruptcy News, Issue No. 19; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000).


BRITISH AIRWAYS: Orders Airbus and Boeing Long-Haul Aircraft
------------------------------------------------------------
British Airways plc has placed an order for 12 Airbus A380 and
24 Boeing 787 aircraft with options for a further seven Airbus
A380s and 18 Boeing 787s.

The A380s will be powered by Rolls-Royce Trent 900 engines and
the B787s will be powered by Rolls-Royce Trent 1000 engines.
The engine order includes a lifetime maintenance contract.

The new aircraft will replace 20 of the airline's B747-400s and
its 14 longhaul B767 fleet and will be delivered between 2010
and 2014.  The order, including options, will give the airline
the ability to grow its capacity by up to 4% per year and the
flexibility to tailor its future capacity growth in line with
market conditions.

The aircraft will be greener, quieter and more fuel efficient
with significantly lower carbon dioxide emissions and reduced
impact on local air quality.  This was a key consideration in
the order.

"This is an exciting day for British Airways with our largest
fleet order since 1998.  It's great news for our business, our
customers and the environment," Willie Walsh, chief executive of
British Airways, said.

"These aircraft set the gold standard when it comes to
environmental performance in the key areas of CO2 emissions,
local air quality and noise.  They will contribute significantly
to our target of improving fuel efficiency by 25% between 2005
and 2025.

"They are also much quieter than their predecessors, which is of
vital importance at Heathrow.  Both the A380 and B787 are rated
as producing a quarter of the noise level of the B747-400.

"These new aircraft will continue our commitment to deliver the
best travel experience to our customers.  This order builds upon
our recent investment in improving the customer experience
through Terminal 5, the new Club World cabin, inflight
entertainment system and ba.com."

The new aircraft types will enable the airline to strengthen
further its network strategy, complementing each other in the
longhaul fleet.  The A380 will be used to provide more capacity
for the airline's key high-density markets and maximize use of
scarce Heathrow slots.  The B787 will be used to start new
routes and increase frequencies in existing markets.

Both aircraft bring significant economic benefits with lower
costs per seat.  They are both long range aircraft and bring
more flexibility in to the fleet as, unlike the B767 that they
replace, they can be flown across the airline's network.

British Airways will continue to consider the most suitable
aircraft to replace its remaining B747-400 aircraft and is
examining the B787-10, B777-300 ER and A350XWB.

The airline has arranged for a group of banks to provide US$1.5
billion of debt financing to cover all of the airline's firm
orders to the end of 2011.

The total list price for the firm orders is US$8.2 billion for
the airframe and engines.

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

British Airways Holidays Ltd. and British Airways Travel
Shops Ltd.  BA has offices in India and Guatemala.

                         *     *     *

As reported in the TCR-Europe on Aug. 16, 2007, Moody's
Investors Service upgraded the senior unsecured rating
of British Airways plc to Ba1, one notch lower than the
Corporate Family Rating (upgraded to Baa3, stable outlook),
reflecting the subordination of unsecured debt to a substantial
portion of secured debt.

The debt instruments affected by the rating action are:

   -- GBP100 million 10.875% senior unsecured notes due 2008 to
      Ba1 from Ba2;

   -- GBP250 million 7.25% senior unsecured notes due 2016 to
      Ba1 from Ba2;

   -- US$115 million 5.25% and US$85 million 7.625% senior
      unsecured industrial revenue notes due 2032 to Ba1 from
      Ba2;

   -- EUR300 million 6.75% perpetual guaranteed preferred
      securities to Ba2 from Ba3 issued by British Airways
      Finance (Jersey) L.P.


C J O ENTERPRISES: Peter W. Engel Leads Liquidation Procedure
-------------------------------------------------------------
Peter W. Engel of Smith & Williamson Restructuring & Recovery
Services was appointed liquidator of C J O Enterprises Ltd. (t/a
Pressure Care Solutions) on Sept. 17 for the creditors'
voluntary winding-up procedure.

The liquidator can be reached at:

         Smith & Williamson Restructuring & Recovery Services
         Oakfield House
         Oakfield Grove
         Clifton
         Bristol
         BS8 2BN
         England


GENERAL MOTORS: National Council Supports 2007 Tentative Pact
-------------------------------------------------------------
The UAW GM National Council -– made up of presidents and
bargaining chairs from more than 80 General Motors Corp.
facilities across the nation -– has voted to unanimously
recommend ratification of the 2007 tentative agreement with GM.

The Council met Friday for four hours to discuss the details of
the proposed agreement with the automaker.

After asking numerous questions of the United Auto Workers union
President Ron Gettelfinger, UAW Vice President Cal Rapson, and
the UAW GM National Negotiating Committee, the council came to
one conclusion: The proposed agreement forged after a two-day
strike by 73,000 UAW members is very much worth supporting.

“We’re very pleased to report that it was unanimously supported
and endorsed by our national council members,” Mr. Gettelfinger
said at a news conference after the meeting.

The proposed contract was explained further at regional
leadership meetings on Saturday and local union meetings and
ratification votes will follow beginning Sunday.  Ratification
votes are expected to conclude by Wednesday, Oct. 10, 2007.

The proposed contract came about Sept. 26, 2007, at 3:05 a.m.
after a marathon bargaining session while thousands of UAW GM
members showed their solidarity on the picket line.  Asked
whether a unanimous vote from the council was the goal of the
meeting, Mr. Gettelfinger, flanked by UAW Vice President Cal
Rapson and the rest of the UAW GM National Negotiating
Committee, said what was most important was explaining the
critical details of the contract language so that everyone
understood it.

But, he added, the committee was gratified by the unanimous show
of support.

“We have to say we all feel pretty good since we did get it,”
Mr. Gettelfinger said.

Mr. Gettelfinger held off on the majority of the details of the
contract, preferring to allow UAW presidents and bargaining
chairs to explain it to the membership.  But, in response to
media questions about the new Voluntary Employee Beneficiary
Association fund that has been in the news so much, he said he
wanted to assure retirees that their health care was secure in
the near and long-term future.

“Health care is in a crisis in this country,” Mr. Gettelfinger
said.  “Our retirees will be protected under this VEBA.”

           GM Regularly Scheduled Production Resumes

As a result of the tentative agreement, all GM North America
manufacturing plants resumed regularly scheduled production
operations beginning second shift Wednesday, Sept. 26, 2007.

Production at the GM Powertrain Windsor Transmission plant in
Canada went down on Monday, Sept. 24, 2007, due to the strike in
the US.  The plant resumed production beginning first shift,
Thursday, Sept. 27, 2007.

                      About General Motors

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 280,000 people around the world and manufactures cars and
trucks in 33 countries, including the United Kingdom, Germany,
France, Russia, Brazil and India.  In 2006, nearly 9.1 million
GM cars and trucks were sold globally under the following
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden,
HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security
and information services.

                         *     *     *

As reported in the Troubled Company Reporter on Sept. 28, 2007,
Fitch Ratings has affirmed and removed the Issuer Default Rating
and debt ratings of General Motors from Rating Watch Negative
following the announcement that GM has reached an agreement on a
new contract with the United Auto Workers.   Fitch currently
rates GM as: IDR 'B'; Senior secured 'BB/RR1'; and Senior
unsecured 'B-/RR5'.  GM's Rating Outlook is Negative.

As reported in Troubled Company Reporter on Sept. 26, 2007,
Moody's Investors Service is maintaining its current ratings of
General Motors Corporation -- B3 Corporate Family, Caa1 senior
unsecured and Ba3 senior secured, and Negative Outlook following
the announcement of a strike against the company by the United
Auto Workers Union.

Following the decision of the United Auto Workers union to go
out on strike against General Motors Corp., Fitch Ratings placed
General Motors Corporation's 'B' issuer default rating, 'BB/RR1'
senior secured debt rating; and 'B-/RR5' senior unsecured debt
rating on Rating Watch Negative.


GENERAL MOTORS: Canada Plants Reopens Amid Tentative UAW Pact
-------------------------------------------------------------
General Motors Corp.'s Canada plants reopened Wednesday as a
result of the company's tentative agreement with the United Auto
Workers union, Reuters reports citing GM Canada public relations
director Stew Low.

As reported in yesterday's Troubled Company Reporter, the
automaker's Car Plant 1 and Car Plant 2 in Oshawa, Ontario
closed Tuesday while its transmission plant in Windsor, Ontario
closed Monday.

                      About General Motors

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 280,000 people around the world and manufactures cars and
trucks in 33 countries, including the United Kingdom, Germany,
France, Russia, Brazil and India.  In 2006, nearly 9.1 million
GM cars and trucks were sold globally under the following
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden,
HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security
and information services.

                         *     *     *

As reported Troubled Company Reporter-Europe on Sept. 26, 2007,
Moody's Investors Service is maintaining its current ratings of
General Motors Corporation -- B3 Corporate Family, Caa1 senior
unsecured and Ba3 senior secured, and Negative Outlook following
the announcement of a strike against the company by the United
Auto Workers Union.

Following the decision of the United Auto Workers union to go
out on strike against General Motors Corp., Fitch Ratings placed
General Motors Corporation's 'B' issuer default rating, 'BB/RR1'
senior secured debt rating; and 'B-/RR5' senior unsecured debt
rating on Rating Watch Negative.


GOUGH PACKAGING: Joint Liquidators Take Over Operations
-------------------------------------------------------
G. Mummery and P. Atkinson of Vantis Business Recovery Services
were appointed joint liquidators of Gough Packaging Ltd.
(formerly Legislator 1258 Ltd.) on Sept. 19 for the creditors'
voluntary winding-up proceeding.

The joint liquidators can be reached at:

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


MITSUBISHI MOTORS: Posts 16.9% Boost for August Production
----------------------------------------------------------
Mitsubishi Motors Corporation announced global production, as
well as domestic sales and export figures for August 2007.

Total global production came in at 109,817 units, an increase of
16.9% over August 2006 and marking the sixth consecutive monthly
increase since March this year.  Production volume in Japan
increased 34.7% to 64,288 units, the eleventh consecutive month
of year-on-year growth.  This growth was driven by increased
output of the New Lancer for the Russian, North America, Latin
American, Middle East and African markets and of the New
Outlander for the U.S., European and Chinese markets.

Vehicle sales in Japan in August totaled 15,356 units, a 10.3%
increase year-on-year.  Registered vehicle sales of 5,578 units
and Mini-car sales of 9,778 units were 28.6% and 2.0% up
respectively on the same month last year.

Overseas production volume totaled 45,529 units, 1.5% down over
August last year.  In Europe production came in at 4,423 units
or 30.5% down on last year's figure.  In North America
production at 8,174 units was 19.2% down on the level seen last
year. In Asia production at 28,790 units was 8.8% up on August
2006.

Total exports from Japan of 46,590 units were 63.9% up on August
2006, marking the tenth consecutive month of year-on-year
increases. Exports to Europe increased to 16,897 units, a
substantial 104.8% rise on the back of firm sales of New Lancer,
New Outlander and New Pajero models.  Exports to Asia rose to
3,046 units, a strong 67.8% increase over the same period last
year and driven mainly by brisk New Outlander sales in China.
Exports to North America fell to 1,728 units, 63.3% down on the
August 2006.

                      About Mitsubishi Motors

Headquartered in Tokyo, Japan, Mitsubishi Motors Corporation --
http://www.mitsubishi-motors.co.jp/-- is one of the few
automobile companies in the world that produces a full line of
automotive products ranging from 660-cc mini cars and passenger
cars to commercial vehicles and heavy-duty trucks and buses.

The company also operates consumer-financing services and
provides this to its customer base.  MMC adopted the Mitsubishi
Motors Revitalization Plan" on Jan. 28, 2005, as its three- year
business plan covering fiscal 2005 through 2007, after investor
DaimlerChrysler backed out from the company.  The main
objectives of the plan are "Regaining Trust" and "Business
Revitalization."

The company has operations worldwide, covering the United
States, Germany, the United Kingdom, Italy, the Netherlands, the
Philippines, Indonesia, Malaysia, China and Australia.  Its
products are sold in over 170 countries.

                        *     *     *

The Troubled Company Reporter-Asia Pacific reported on July 10,
2007, that Rating and Investment Information, Inc. has lifted
its issuer rating from 'B' to 'B+' with a stable outlook.  Also,
R&I affirmed its 'B' rating for its domestic commercial paper
program.  The upgrade in rating, according to the report, is due
to the fact that Mitsubishi Motors has been working to
restructure its operations since it announced its Mitsubishi
Motors Revitalization Plan in January 2005 and despite difficult
domestic market conditions caused by factors like shrinking
vehicle demand, Mitsubishi Motors has managed to leverage new
model introductions to gradually restore its earnings base.


NASDAQ STOCK: Borse Dubai Raises Cash Offer for OMX AB
------------------------------------------------------
Borse Dubai Limited has raised its cash offer to SEK265 for each
share in OMX AB (publ).  Borse Dubai has also changed the
acceptance level condition under its offer from more than 90% to
more than 50%.  The other terms and conditions of the Borse
Dubai Offer remain the same as announced on Aug. 17, 2007, by
Borse Dubai, and on Sept. 20, 2007, by Borse Dubai and The
NASDAQ Stock Market, Inc.

NASDAQ and Borse Dubai are joining efforts to provide a
compelling, long-term enhancement and growth strategy for OMX
and the Nordic and Baltic region.  Borse Dubai and NASDAQ have
now secured irrevocable undertakings from Investor AB (publ),
Nordea Bank AB (publ), Olof Stenhammar, Didner & Gerge Fonder
AB, Nykredit Realkredit A/S and Magnus Bocker, who in aggregate
hold approximately 18.5% of the total number of votes and shares
in OMX, at the increased price of Borse Dubai's cash offer.

The combination of Borse Dubai's shares in OMX, the option
agreements entered into on 9 August 2007 and the irrevocable
undertakings entered into will result in Borse Dubai holding no
less than 57.4 million OMX shares, representing no less than
47.6% of the total number of votes and shares in OMX.  This
assumes that the Borse Dubai Offer is completed and that the
conditions to the option agreements and the irrevocable
undertakings are satisfied.  As a result of the increased offer,
the strike price of the option agreements will increase to
SEK265 per OMX share.  As agreed between Borse Dubai and NASDAQ,
these OMX shares as well as shares tendered in the Borse Dubai
Offer, are expected to be sold to NASDAQ.  The irrevocable
undertakings are assignable to NASDAQ under certain
circumstances.

The irrevocable undertakings commit the Selling Shareholders to
tender all of their shares into the Borse Dubai Offer, subject,
inter alia, to the conditions that:

   (i) the Borse Dubai Offer opens for acceptances no later
       than Feb. 15, 2008 and;

  (ii) no party, before the Borse Dubai Offer is made wholly
       unconditional, makes a bona fide unsolicited competing
       offer at minimum of SEK303 per OMX share which Borse
       Dubai does not match within fifteen banking days.

The irrevocable undertakings will automatically terminate upon,
inter alia, the termination or withdrawal of the Borse Dubai
Offer, Borse Dubai reducing the acceptance level condition below
50% and in any event no later than 11:59 p.m. (New York time) on
April 1, 2008.

On Sept. 20, 2007, Borse Dubai and NASDAQ disclosed a series of
transactions that will create a global financial market place
with a unique footprint spanning the U.S., Europe, the Middle
East and strategic emerging markets.  These transactions are
unaffected by this announcement apart from these:

   * Borse Dubai has agreed to increase its offer by SEK35 per
     OMX share or by SEK4,222 million (approximately
     $649 million) to SEK31,970 million (approximately
     $4.914 billion)

   * NASDAQ has agreed to increase the cash component of its
     agreement with Borse Dubai by SEK1,206 million
     (approximately $185 million) to SEK12,583 million
     (approximately $1.934 billion), corresponding to SEK10 per
     OMX share, of the total increase of SEK35 per OMX share

   * As a result, Borse Dubai has effectively agreed to pay an
     incremental SEK3,016 million (approximately $464 million),
     representing an increase of SEK25 per OMX share, of the
     total increase of SEK 35per OMX share

"The OMX combination and the prospect of building a world-class
global marketplace, unique in its reach and growth potential,
will bring benefits to our shareholders and stakeholders alike,"
Bob Greifeld, President and Chief Executive Officer of NASDAQ,
said.  "We will seek to be a catalyst to attract more
investment, listings and trading to the Nordic and Baltic
marketplace.  We thank Investor, Nordea Bank, Olof Stenhammar,
Didner & Gerge, Nykredit and Magnus Bocker for supporting this
offer by entering into irrevocable undertakings."

"The opportunities for OMX, Borse Dubai and NASDAQ to further
develop and link mature and emerging markets through our new
combination are very significant," Essa Kazim, Chairman of Borse
Dubai, said.  "These efforts will place the Nordic and the
Baltic markets in a key and pivotal position among global
financial centers and Sweden will be a centrepiece for those
efforts.  We are very pleased to be the first global exchange to
bridge the U.S, Europe and the Middle East."

              NASDAQ and Borse Dubai Commitment

NASDAQ and Borse Dubai are committed to Finansplats Stockholm
and the Nordic and Baltic region, including the Nordic and
Baltic regulatory and operational frameworks and procedures.
NASDAQ and Borse Dubai recognise that the Stockholm financial
sector is one of the most important drivers of the Swedish
economy.  The strategy of the new company, to be formed by
NASDAQ's acquisition of OMX from Borse Dubai following
completion of the Borse Dubai Offer and to be called The NASDAQ
OMX Group, Inc., builds on the strong existing businesses,
market models and stakeholder influence of OMX.

NASDAQ and Borse Dubai will support investments in ongoing
research and development in Stockholm and will promote Stockholm
as a global financial technology and know-how centre of
excellence.  NASDAQ OMX will provide the Nordic and Baltic
region and Finansplats Stockholm the resources and
infrastructure necessary to grow the business, which is likely
to increase employment opportunities in Stockholm, and will seek
to ensure that Stockholm is acknowledged as a leading financial
centre in Northern Europe by 2010.  In order to strengthen the
competitive position of Finansplats Stockholm, NASDAQ and Borse
Dubai fully support the ongoing development of areas such as:

   * Regulation and supervision: NASDAQ OMX will be committed
     to the existing Nordic and Baltic regulatory and
     operational frameworks, procedures and efficient
     supervisory authority.  NASDAQ will continue its active
     engagement with the U.S. Securities and Exchange
     Commission, Treasury Department and Congress to ensure
     that there is no U.S. regulatory spillover directly or
     indirectly as a result of this transaction.  The Financial
     Supervisory Authorities in all the seven jurisdictions
     concerned have received written assurances to this effect
     from the SEC;

   * Competition: NASDAQ OMX will safeguard the Nordic and
     Baltic region's competitive position in the upcoming MiFID
     environment by enhanced efficiencies and innovative
     approaches to trading and pan-European market structure;

   * Efficiency and transparency: NASDAQ OMX will continue to
     focus on low cost, transparency and market efficiency to
     the benefit of the Nordic and Baltic capital markets;

   * Education and research: NASDAQ OMX will stimulate
     education and research through, among others, seminars and
     academic committees within the concept of Finansplats
     Stockholm.

Furthermore, NASDAQ confirms its commitment to:

   * the European headquarters of NASDAQ OMX being located in
     Stockholm;

   * the world technology business headquarters of NASDAQ OMX
     being located in Stockholm;

   * key senior positions remaining in Stockholm, including
     Head of Technology business, Head of Technology
     Operations, Head of Nordic Marketplace;

   * four OMX directors being recommended to be on the NASDAQ
     OMX Board, including the Deputy Chairman; and

   * the OMX Nordic Exchange Board remaining as is, with its
     current Nordic composition.

NASDAQ and Borse Dubai are confident that, together, the two
organizations can provide OMX with strong growth opportunities
within the developed, European financial markets with Stockholm
as the operational base for pan-European efforts, as well as in
the emerging markets using its Stockholm-based technology
business and know-how to help develop capital markets in high
growth regions worldwide.

                        About Borse Dubai

Incorporated on Aug. 7, 2007, in the Dubai International
Financial Centre, Borse Dubai Limited is 60 per cent owned by
the Investment Corporation of Dubai, 20 per cent by Dubai Group
LLC (a member of the Dubai Holding Group) and 20 per cent by
DIFC Investments LLC.  Borse Dubaia's sole business purpose is
to act as a holding company for investments in stock exchanges,
including the Dubai Financial Market and the Dubai International
Financial Exchange.

                        About NASDAQ Stock

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

                          *     *     *

As reported in the TCR-Europe on Sept. 25, 2007, Standard &
Poor's Ratings Services placed its ratings on The Nasdaq Stock
Market Inc, including its 'BB' long-term counterparty credit
rating, on CreditWatch Positive, after Nasdaq announced that it
is selling the bulk of its investment in the London Stock
Exchange PLC to Borse Dubai, and using the proceeds to pay down
rated term loans.

The CreditWatch action also considers the strategic steps Nasdaq
is taking to secure a merger with OMX AB, announced on May 25,
2007.  The ratings on OMX AB remain on CreditWatch Negative.

In a TCR-Europe report on Sept. 24, Moody's Investors Service
placed the Ba3 corporate family rating of Nasdaq Stock Market
Inc., on review for upgrade.

This action follows Nasdaq's agreement to sell a major portion
of its common stock investment in the London Stock Exchange to
Borse Dubai and reduce debt, as well as the potential business
combinations between Borse Dubai, OMX AB and NASDAQ.


NIALL PHILLIPS: Brings In Liquidators from BDO Stoy Hayward
-----------------------------------------------------------
Mark Peter George Roach and Graham David Randall of BDO Stoy
Hayward LLP were appointed joint liquidators of Niall Phillips
Architects Ltd. on Sept. 8 for the creditors' voluntary winding-
up proceeding.

The joint liquidators can be reached at:

         BDO Stoy Hayward LLP
         One Victoria Street
         Bristol
         BS1 6AA
         England


SAGRES STC: Fitch Lowers Rating on EUR53 Mln Class T Notes to B
---------------------------------------------------------------
Fitch Ratings has resolved the Rating Watch Negative on SAGRES
STC - Explorer 2004 Series 1's Class T outstanding notes and
downgraded the rating on the notes to 'B' from 'B+'.  Fitch has
also affirmed SAGRES's Class A2, M, N and O outstanding notes.

The current ratings are as follows:

   -- EUR195 million Class A2 floating-rate notes (ISIN
      XS0190180678): affirmed at 'AAA'; Stable Outlook

   -- EUR170 million Class M floating-rate notes (ISIN
      XS0190180918): affirmed at 'AA'; Stable Outlook

   -- EUR129 million Class N floating-rate notes (ISIN
      XS0190181130): affirmed at 'A-' (A minus); Stable Outlook

   -- EUR136 million Class O floating-rate notes (ISIN
      XS0190181213): affirmed at 'BB+'; Negative Outlook

   -- EUR53 million Class T fixed-rate notes (ISIN
      XS0190181486): downgraded to 'B' from 'B+'; removed from
      RWN; Negative Outlook assigned

This transaction is a securitization of unpaid tax and social
security claims originated in Portugal and closed in April 2004.

On May 9, 2007, Fitch placed the Class T notes on RWN,
reflecting the risk that the current collections may not be
sufficient to guarantee the full payment of principal and
interest of the Class T notes at final legal maturity.  At that
time, Fitch indicated that the Class T notes remained vulnerable
unless collections were stepped up, relative to Fitch's revised
base case.  Furthermore, Fitch indicated that unless a marked
improvement resulted during the collection period (March 2007 to
Sept. 2007), a downgrade may be appropriate for the Class T
notes.

As collections over the past six months (EUR153 million) did not
improve in relation to Fitch's revised base case (the cumulative
collections of EUR1.296 million represent only 100.5% of the
revised base), there is still a risk that a shortfall may occur
on the Class T notes at their final legal maturity.


TORQUE SYSTEMS: Claims Filing Period Ends December 19
-----------------------------------------------------
Creditors of Torque Systems (Crawley) Ltd. have until Dec. 19 to
send their full names, address and descriptions, full
particulars of their debts or claims, and the names and
addresses of their solicitors (if any) to:

         David Elliott
         Liquidator
         Moore Stephens LLP
         Victory House
         Admiralty Place
         Chatham Maritime
         Kent
         ME4 4QU
         England

David Elliott of Moore Stephens LLP was appointed liquidator of
the company on Sept. 19 for the creditors' voluntary winding-up
procedure.


W.T. ELECTRIC: Calls In Liquidators from Tenon Recovery
-------------------------------------------------------
Nigel Ian Fox and Stanley Donald Burkett-Coltman of Tenon
Recovery were appointed joint liquidators of The W.T. Electric
Light Co. Ltd. on Sept. 14 for the creditors' voluntary winding-
up proceeding.

The liquidator can be reached at:

         Tenon Recovery
         Highfield Court
         Tollgate
         Chandlers Ford
         Eastleigh
         Hampshire
         SO53 3TZ
         England


WHOLE FOODS: Board Declares US$0.18 Per Share Dividend
------------------------------------------------------
Whole Foods Market Inc.'s Board of Directors declared a dividend
of US$0.18 per share to shareholders of record at the close of
business on Oct. 12, 2007.  The dividend is payable Oct. 23,
2007.

                     About Whole Foods Market

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

                          *     *     *

As reported in the Troubled Company Reporter on Sept. 18, 2007,
Moody's Investors Service downgraded Whole Foods Market Inc.'s
corporate family rating to Ba1 from Baa3 reflecting the
deterioration in the company's debt protection measures
following the debt-financed acquisition of Wild Oats Markets
Inc.  Moody's also downgraded the company's issuer rating to Ba2
from Ba1 (will be withdrawn) and assigned probability-of-default
rating of Ba1.  Moody's said the rating outlook is stable.  This
rating action resolves the review for possible downgrade
initiated on Feb. 22, 2007.


WHOLE FOODS: Capers Outlet to Shut Down on October 27
-----------------------------------------------------
Whole Foods Market Inc. will close its newly acquired branch at
West Vancouver Capers on Oct. 27, 2007, due to location and size
problems, Derrick Penner reports for Vancouver Sun, citing Ron
Megahan, Regional President of Whole Foods.

The closure however, Mr. Megahan explains, is not a move for
consolidation and Whole Foods intends to expand in Vancouver,
the report says.

Workers at the Capers outlet will be offered positions at the
parent company's Park Royal Village branch in West Vancouver or
at its other Capers outlets, Mr. Penner relates, quoting Mr.
Megahan.

                     About Whole Foods Market

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

                          *     *     *

As reported in the Troubled Company Reporter on Sept. 18, 2007,
Moody's Investors Service downgraded Whole Foods Market Inc.'s
corporate family rating to Ba1 from Baa3 reflecting the
deterioration in the company's debt protection measures
following the debt-financed acquisition of Wild Oats Markets
Inc.  Moody's also downgraded the company's issuer rating to Ba2
from Ba1 (will be withdrawn) and assigned probability-of-default
rating of Ba1.  Moody's said the rating outlook is stable.  This
rating action resolves the review for possible downgrade
initiated on Feb. 22, 2007.



* Fried Frank London Office Names Sheena McCaffrey as Partner
-------------------------------------------------------------
Sheena McCaffrey has joined Fried Frank Harris Shriver &
Jacobson LLP as an employment and pensions partner in the London
office.  She joins from Sidley Austin.

Sheena has extensive experience advising on the pensions and
employment aspects of international corporate and M&A
transactions, including advice to employers and trustees on
pension scheme compliance and pension transfers and transfer of
undertakings issues.

“Employment and pensions issues are so often integral to
corporate transactions and our clients are increasingly being
faced with complex employment and pensions laws and practices,”
said Managing Partner, Justin Spendlove.  “We are delighted to
welcome Sheena to head up our employment and pensions team in
London.”

Fried Frank Harris Shriver & Jacobson LLP --
http://www.friedfrank.com/-- is an international law firm with
more than 600 attorneys in offices in New York, Washington,
D.C., London, Paris, Frankfurt and Hong Kong.  Fried
Frank lawyers regularly represent major investment banking
firms, private equity houses and hedge funds, well as many of
the largest companies in the world.  The firm offers legal
counsel on M&A, private equity, asset management, capital
markets and corporate finance matters, white-collar criminal
defense and civil litigation, securities regulation, compliance
and enforcement, government contracts, environmental law and
litigation, real estate, tax, bankruptcy, antitrust, benefits
and compensation, intellectual property and technology,
international trade, and trusts and estates.  The firm has an
association with Huen Wong & Co. in Hong Kong.


* BOND PRICING: For the Week Sept. 24 to Sept. 28, 2007
-------------------------------------------------------
Issuer                    Coupon   Maturity   Currency   Price
------                    ------   --------   --------   -----

AUSTRIA
-------
Kommunal Kredit
  Austria AG              0.500    03/15/19     CDN      62.34
                          0.250    10/14/26     CDN      38.33
Republic of Austria       4.000    06/22/22     EUR      71.83
                          0.396    08/04/25     EUR      65.98
                          5.000    10/10/25     EUR      62.83


FINLAND
-------
Muni Finance PLC          1.000    03/19/13     AUD      72.78
                          0.500    04/26/13     AUD      70.10
                          1.000    11/21/16     NZD      56.35
                          1.000    10/30/17     AUD      57.08
                          0.500    09/24/20     CDN      56.60
                          0.250    06/28/40     CDN      20.05

FRANCE
------
Accor S.A.                1.750    01/01/08     EUR      61.99
Alcatel S.A.              4.750    01/01/11     EUR      16.13
Altran Technologies S.A.  3.750    01/01/09     EUR      12.44
BNP Paribas               0.250    12/20/14     US$      69.78
CAP Gemini S.A.           2.500    01/01/10     EUR      54.91
                          1.000    01/01/12     EUR      49.91
Club Mediterranee S.A.    3.000    11/01/08     EUR      66.63
                          4.375    11/01/10     EUR      53.29
FCC Rome Alliance
    Funding               2.256    01/08/21     EUR      73.30
Havas S.A.                4.000    01/01/09     EUR      10.82
Infogrames
   Entertainment S.A.     1.500    04/01/09     EUR      00.50
Ingenico                  2.750    01/01/12     EUR      20.80
Maurel & Prom             3.500    01/01/10     EUR      21.98
Publicis Group            0.750    07/17/08     EUR      31.29
                          1.000    01/18/18     EUR      42.62
Rallye                    3.750    01/01/08     EUR      51.66
Rhodia S.A.               0.500    01/01/14     EUR      43.79
Scor S.A.                 4.125    01/01/10     EUR       2.27
Soc Air France            2.750    04/01/20     EUR      29.14
Soitec                    4.625    12/20/09     EUR      13.01
Thomson (EX-TMM)          1.000    01/01/08     EUR      39.52
Valeo                     2.375    01/01/11     EUR      49.73
Vivendi Universal S.A.    1.750    10/30/08     EUR      30.70
Wavecom S.A.              1.750    01/01/14     EUR      27.27
Wendel Invest S.A.        2.000    06/19/09     EUR      47.94

GERMANY
-------
KfW Bankengruppe          0.500    10/30/13     AUD      67.84
                          0.500    12/19/17     EUR      65.95
                          5.000    05/23/20     EUR      74.35
                          1.250    07/29/20     EUR      72.63
                          6.000    07/21/25     EUR      69.56
                          5.000    09/01/25     EUR      72.50
                          8.000    08/10/30     EUR      65.00
Landeskreditbank Baden-
   Wuerttemberg Foerderbk 0.500    05/10/27     CDN      42.33
Landwirtschaftliche
   Rentenbank AG          1.000    03/29/17     NZD      55.51

GREECE
------
Hellenic Republic         6.000    07/06/25     EUR      72.11

ICELAND
-------
Kaupthing Bank            6.500    02/03/45     EUR      68.94

IRELAND
-------
Depfa ACS Bank            0.500    03/03/25     CDN      46.08
                          0.250    07/08/33     CDN      27.29
Irish Perm Plc            6.125    02/15/35     EUR      65.88
Magnolia Finance IV Plc   1.050    12/20/45     US$      27.40

ITALY
-----
Dexia Crediop S.p.A.      0.000    03/15/16     EUR      72.17

LUXEMBOURG
----------
Teksid Aluminum S.A.     12.375    07/15/11     EUR      42.38

NETHERLANDS
-----------
ABN AMRO Bank N.V.        6.250    06/29/35     EUR      69.58
BK Ned Gemeenten          0.500    06/27/18     CDN      63.25
                          0.500    02/24/25     CDN      45.12
EM.TV Finance B.V.        5.250    05/08/13     EUR       6.01
Energy Group O/S          7.425    10/15/17     US$      32.50
Gerling Global            3.500    08/16/21     EUR      62.72
Lehman Bros TSY B.V.      6.000    02/15/35     EUR      68.54
                          8.250    03/16/35     EUR      60.76
                          7.000    05/17/35     EUR      62.71
                          7.250    10/05/35     EUR      58.31
                          6.000    11/02/35     EUR      62.95
Ned Waterschapbk          6.000    06/01/35     EUR      71.38
                          6.500    08/15/35     EUR      62.80
Rabobank Groep N.V.       6.000    04/08/20     EUR      70.60
                          6.000    02/22/35     EUR      66.59
                          2.000    02/23/35     EUR      62.80
                          7.000    02/28/35     EUR      67.56
                          7.000    03/23/35     EUR      65.17
                          6.000    05/09/35     EUR      72.79

NORWAY
------
Kommunalbanken A.S.       0.500    02/07/13     AUD      70.65

SWEDEN
------
AB Svensk Export          0.500    03/27/13     AUD      70.40

SWITZERLAND
-----------
UBS AG                    1.000     01/25/12    NZD      74.78
                          1.000     02/27/12    NZD      74.38
                          1.000     03/28/12    NZD      73.94
                          1.000     06/28/12    NZD      72.83
                          1.000     07/30/12    NZD      72.52

UNITED KINGDOM
--------------
Anglian Water
   Finance Plc            2.400     04/20/35    GBP      53.80
National Grid Gas Plc     1.754     10/17/36    GBP      44.05
                          1.771     03/30/37    GBP      43.99
Royal BK Scotland Plc     0.250     03/27/14    US$      72.67
                          9.500     04/04/25    US$      70.13
                          7.000     06/09/25    EUR      62.81
                          7.000     06/29/30    EUR      56.32
                          7.000     02/15/45    US$      64.29
                          6.500     02/23/45    EUR      62.62
Wessex Water Finance Plc  1.369     07/31/57    GBP      29.30

                            *********

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

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

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

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

                            *********


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

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

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
prior written permission of the publishers.

Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.

The TCR Europe subscription rate is US$625 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are US$25 each. For subscription
information, contact Christopher Beard at 240/629-3300.


                 * * * End of Transmission * * *