TCREUR_Public/071008.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 8, 2007, Vol. 8, No. 198

                            Headlines


A U S T R I A

BLITS LLC: Vienna Court Orders Business Shutdown
D & H LLC: Claims Registration Period Ends Oct. 25
EROTIC ENTERPRISES: Claims Registration Period Ends Oct. 30
FLOORTEC LLC: Claims Registration Period Ends Oct. 30
INOCARE MEDIZINTECHNIK: Claims Registration Period Ends Oct. 30

PESACO LLC: Claims Registration Period Ends Oct. 30
QUELLEN MALER: Claims Registration Period Ends Oct. 30


B E L G I U M

FEDERAL-MOGUL: Posts Net Loss of US$10.4 Million in August 2007


F R A N C E

DELPHI CORP: Posts US$100 Mln Net Loss in Month Ended August 31
EMT 25: Enters Into Receivership Procedure
EUROTUNNEL GROUP: To Launch Reverse Stock Split for GET Shares
EXIDE TECHNOLOGIES: US$91.7 Million Rights Offering Expires
KAUFMAN & BROAD: Earns EUR70.3 Million in 9-Month Ended Aug. 31

SOLECTRON CORP: Agent Discloses Final Result of Exchange


G E R M A N Y

AD2MEDIA GMBH: Claims Registration Ends Nov. 6
ALLTAX STEUERBERATUNGSGESELLSCHAFT: Creditors' Claim Due Nov. 14
CHRYSLER LLC: Intends to Close Assembly Plant in Illinois
DIALOG GMBH: Claims Registration Ends November 13
FIRSTCLASS SPORT: Claims Registration Ends November 13

FLAIR POLSTERMOEBELVERTRIEB: Claims Registration Ends Oct. 26
FM MOEBEL: Claims Registration Period Ends Oct. 23
G & Z FACILITY: Claims Registration Period Ends Oct. 23
INGENIEURBUERO FUER TRAGWERKSPLANUNG: Claims Bar Date on Oct. 25
LIESER & CO: Claims Registration Ends Nov. 9

MALERWERKSTATTEN PITTURA: Creditors Must File Claims by Nov. 13
MCFLIGHT FLUGVERMITTLUNG: Claims Registration Ends Nov. 12
MEDICAL VITA: Claims Registration Period Ends Oct. 30
NORMBAU VERWALTUNG: Claims Registration Period Ends Oct. 23
RAPID BAU: Claims Registration Ends Nov. 11

RHEIN-RUHR-POLSTER GMBH: Claims Registration Period Ends Oct. 15
SANGER & MASSIERER: Claims Registration Ends November 12
SENSORVISION DIGITAL: Claims Registration Ends November 12
SHABANI PUTZ: Claims Registration Period Ends Oct. 25
SPECTRUM BRANDS: Names Anthony Genito as Chief Financial Officer

SPECTRUM BRANDS: Amy Yoder Assumes Role as United President
ZWEITE VENTUS: Creditors Must File Claims by November 13


H U N G A R Y

ARVINMERITOR INC: Amends Diluted Earnings Per Share Forecast


I T A L Y

PARMALAT SPA: Increases Share Capital by EUR43,148


K A Z A K H S T A N

ADP COMPANY: Proof of Claim Deadline Slated for Nov. 9
ASTAN PLUS: Creditors Must File Claims Nov. 14
BANK TURANALEM: Wins Auction for 25% Stake in NJSIC Oranta
CROCUS TRAVEL: Claims Filing Period Ends Nov. 9
KAZAKHSTAN ELECTRICITY: S&P Puts BB+ Ratings on Watch

KAZKOMMERTS INT'L: Moody's May Cut B1 Debt Rating After Review
MADANA-GOPALA LLP: Creditors' Claims Due on Nov. 14
NC KAZMUNAYGAS: S&P Watches Ratings Until Sovereign Review
RENKO SPA: Claims Registration Ends Nov. 9
STA COMPANY: Proof of Claim Deadline Slated for Nov. 9

TEMIR ZHOLY: S&P Watches Ratings Pending Sovereign Review
UDS-2 LLP: Creditors Must File Claims Nov. 9
UG-KVANT LLP: Claims Filing Period Ends Nov. 9
UJTRANSSERVICE LLP: Creditors' Claims Due on Nov. 9


K Y R G Y Z S T A N

BATKEN NEFT: Proof of Claim Deadline Slated for November 9
VORTEX LLC: Creditors Must File Claims by November 7


N E T H E R L A N D S

ARENA 2000-1: Fitch Rates Class D Notes at 'BB+'; Outlook Stable
BAUSCH & LOMB: Receives Tenders & Consents for Debt Securities
BAUSCH & LOMB: S&P Cuts Ratings to B+ on Merger Possibility
KONINKLIJKE AHOLD: Settles Case Filed Against Former Executives
STICHTING MEMPHIS 2005-I: Fitch Affirms Class F Notes at BB

STICHTING MEMPHIS 2006-I: Fitch Affirms Class G Notes at B


P O L A N D

PRA INTERNATIONAL: S&P Assigns B Corporate Credit Rating
BEARINGPOINT INC: Bags US$57.9-Mil. Deal for IT Support Services


R U S S I A

BAKSANSKIJ LLC: Creditors Must File Claims by Nov. 22
CHELNO-VERSHINSKIJ: Creditors Must File Claims by Nov. 22
EAST-URAL-OIL CJSC: Creditors Must File Claims by Nov. 22
HEATING SYSTEM: Creditors Must File Claims by Oct. 22
KRYLOVSKIJ FEED PLANT OJSC: Bidding Deadline Slated for Oct. 19

MDM BANK: IFC Completes US$184 Million Stake Acquisition
ROSSIYSKIY KREDIT: Moody's Assigns Caa1/NP/E/Ba2.ru Ratings
RZHAKSAAGROPROMSNAB OJSC: Creditors Must File Claims by Oct. 22
USEC INC: Inks Pact with Lenders to Sell 20 Million Shares
VERHOVSKIJ CONCENTRATED: Bidding Deadline Slated for October 22

VORONEZHSKIJ OJSC: Court Starts External Bankruptcy Procedure
YOUR HOUSE LLC: Creditors Must File Claims by Oct. 22
ZARYA OJSC: Bidding Deadline Slated for October 24


S P A I N

GENERAL CABLE: Amends Credit Agreement to Issue Additional Notes


S W E D E N

AVNET INC: Inks US$600 Five-Year Senior Unsec. Credit Facility
FLEXTRONICS INT'L: Agent Discloses Final Results of Exchange
FLEXTRONICS INT'L: Solectron Global to Redeem 8% Senior Notes


S W I T Z E R L A N D

ARIESCH JSC: Graubunden Court Closes Bankruptcy Proceedings
DR. RIGHTMANN: Creditors' Liquidation Claims Due October 15
ENGELER JSC: Creditors' Liquidation Claims Due October 15
FROHSINN LLC: Zug Court Closes Bankruptcy Proceedings
KSC SEMINARHOTEL: Creditors' Liquidation Claims Due October 15

PETROPLUS SCHIFFFAHRT: Creditors' Liquidation Claims Due Oct. 12
ROLAN PFAFFIKON: Creditors' Liquidation Claims Due October 15
SCHRIFTART LLC: Bern Court Starts Bankruptcy Proceedings
SIOPLAST MANAGEMENT: Zug Court Starts Bankruptcy Proceedings
SOCIETE IMMOBILIERE: Creditors' Liquidation Claims Due Oct. 15


U K R A I N E

BULGANAKSKY STONE-WORKING: Creditors Must File Claims by Oct. 9
FIRST NATIONAL: Proofs of Claim Deadline Set October 9
KHARTRON-ALFA LLC: Creditors Must File Claims by October 9
LIGA-D OJSC: Proofs of Claim Deadline Set October 9
LISICHANSK COAL: Creditors Must File Claims by October 9

PEASANT ENERGY: Creditors Must File Claims by October 9
SHULIAKI-AGRO LLC: Creditors Must File Claims by October 9
SUGAR-INVEST LLC: Creditors Must File Claims by October 9
TCHUBUKI LLC: Proofs of Claim Deadline Set October 9
VISHNIAKI LLC: Creditors Must File Claims by October 9


U N I T E D   K I N G D O M

ALLIANCE BOOTS: Highly Leveraged Capital Cues S&P’s B- Ratings
ARVINMERITOR INC: Moody's Cuts Corporate Family Rating to B1
BRITISH AIRWAYS: Traffic Figures Down 0.7% in September 2007
CHEYNE FINANCE: Moody's Cuts Rating to Ba3 on Medium Term Note
CLOROX CO: Prices US$750 Million 11.40% Senior Notes Offering

COLLINS & AIKMAN: Posts US$27,403,332 Net Loss in August 2007
DOLGARROG ALUMINIUM: Administrators Start Phased Shutdown
DURA AUTOMOTIVE: Incurs US$11.4 Million Net Loss in August 2007
EMERALD WINDOWS: Brings In Liquidators from Vantis Business
EUROTUNNEL GROUP: To Launch Reverse Stock Split for GET Shares

FINLAW 532: Claims Filing Period Ends November 16
GEOTHERMIC HEATING: Calls In Liquidators from Vantis Business
ICONIX BRAND: Closes US$231-Mil. Official Pillowtex Acquisition
ISOFT GROUP: Shareholders Okay IBA Health Revised Offer
LEVEL 3: Submits Proposal to Resolve Pending FCC Proceeding

NASH FINCH: Denies Default Under Sr. Convertible Bond Indenture
NATION RESOURCES: Taps Liquidators from Baker Tilly
WHOLE FOODS: Completes Sale of Henry's Farmers and Sun Harvest

* BOND PRICING: For the Week Oct. 1 to Oct. 5, 2007

                            *********

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


BLITS LLC: Vienna Court Orders Business Shutdown
------------------------------------------------
The Trade Court of Vienna entered Sept. 3 an order shutting down
the business of LLC B.L.I.T.S. (FN 270213y).

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

The estate administrator can be reached at:

         Dr. Susanne Fruhstorfer
         c/o Dr. Michael Guenther
         Seilerstatte 17
         1010 Vienna
         Austria
         Tel: 512 57 76
         Fax: 512 57 76 50
         E-mail: office@fg-lawyers.at

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Aug. 17 (Bankr. Case No 6 S 94/07a).  Michael Guenther
represents Dr. Fruhstorfer in the bankruptcy proceedings.


D & H LLC: Claims Registration Period Ends Oct. 25
--------------------------------------------------
Creditors owed money by LLC D & H (FN 240809g) have until
Oct. 25 to file written proofs of claim to court-appointed
estate administrator Guenther Hoedl at:

         Dr. Guenther Hoedl
         c/o Dr. Katharina Widhalm-Budak
         Schulerstrasse 18
         1010 Vienna
         Austria
         Tel: 513 16 55
         Fax: 513 16 55 33
         E-mail: Hoedl@anwaltsteam.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 on Nov. 8 for the examination of
claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1703
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Sept. 6 (Bankr. Case No. 5 S 106/07h).  Katharina Widhalm-
Budak represents Dr. Hoedl in the bankruptcy proceedings.


EROTIC ENTERPRISES: Claims Registration Period Ends Oct. 30
-----------------------------------------------------------
Creditors owed money by LLC Erotic Enterprises (FN 186518t) have
until Oct. 30 to file written proofs of claim to court-appointed
estate administrator Thomas Herzog at:

         Dr. Thomas Herzog
         Stadtplatz 19
         4840 Voecklabruck
         Austria
         Tel: 07672/72607-0
         Fax: 07672/75567
         E-mail: rae.nuss.hoff-herz@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on Nov. 8 for the
examination of claims.

The meeting of creditors will be held at:

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

Headquartered in Attnang-Puchheim, Austria, the Debtor declared
bankruptcy on Sept. 3 (Bankr. Case No. 20 S 108/07v).


FLOORTEC LLC: Claims Registration Period Ends Oct. 30
-----------------------------------------------------
Creditors owed money by LLC Floortec (FN 41114m) have until
Oct. 30 to file written proofs of claim to court-appointed
estate administrator Stefan Weidinger at:

         Mag. Stefan Weidinger
         Dr. Koss-Strasse 3
         4600 Wels
         Austria
         Tel: 07242/67354-0
         Fax: 07242/67354-50
         E-mail: kanzlei@holme.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:40 a.m. on Nov. 8 for the
examination of claims.

The meeting of creditors will be held at:

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

Headquartered in Wels, Austria, the Debtor declared bankruptcy
on Sept. 4 (Bankr. Case No. 20 S 110/07p).


INOCARE MEDIZINTECHNIK: Claims Registration Period Ends Oct. 30
---------------------------------------------------------------
Creditors owed money by LLC Inocare Medizintechnik (FN 271606x)
have until Oct. 30 to file written proofs of claim to court-
appointed estate administrator Klaus Schiller at:

         Dr. Klaus Schiller
         Stadtplatz 27
         4690 Schwanenstadt
         Austria
         Tel: 07673/6720
         Fax: 07673/6720-20
         E-mail: office@kanzlei-schiller.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:00 a.m. on Nov. 8 for the
examination of claims.

The meeting of creditors will be held at:

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

Headquartered in Schwanenstadt, Austria, the Debtor declared
bankruptcy on Sept. 4 (Bankr. Case No. 20 S 107/07x).


PESACO LLC: Claims Registration Period Ends Oct. 30
---------------------------------------------------
Creditors owed money by LLC PESACO (FN 171563z) have until
Oct. 30 to file written proofs of claim to court-appointed
estate administrator Eva Wexberg at:

         Dr. Eva Wexberg
         c/o Dr. Walter Kainz
         Gusshausstrasse 23
         1040 Vienna
         Austria
         Tel: 505 88 31
         Fax: 505 94 64
         E-mail: kanzlei@kainz-wexberg.at

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 Trade Court of Vienna
         Room 1701
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Sept. 6 (Bankr. Case No. 6 S 112/07y).  Walter Kainz
represents Dr. Wexberg in the bankruptcy proceedings.


QUELLEN MALER: Claims Registration Period Ends Oct. 30
------------------------------------------------------
Creditors owed money by LLC Quellen Maler und Anstreicher (FN
282667m) have until Oct. 30 to file written proofs of claim to
court-appointed estate administrator Markus Siebinger at:

         Mag. Markus Siebinger
         c/o Dr. Karl Schirl
         Krugerstrasse 17/3
         1010 Vienna
         Austria
         Tel: 513 22 31
         Fax: 513 22 31 1
         E-mail: markus.siebinger@der-rechtsanwalt.at
                 dr.karl.schirl@der-rechtsanwalt.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 1:00 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 Sept. 3 (Bankr. Case No. 6 S 109/07g).  Karl Schirl
represents Mag. Siebinger in the bankruptcy proceedings.


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


FEDERAL-MOGUL: Posts Net Loss of US$10.4 Million in August 2007
-------------------------------------------------------------
                Federal-Mogul Global, Inc., et al.
                     Unaudited Balance Sheet
                      As of August 31, 2007
                          (In millions)

                              Assets

Cash and equivalents
US$52.3
Accounts receivable                                       599.8
Inventories                                               400.7
Deferred taxes                                            192.5
Prepaid expenses and other current assets                 108.2
                                                       --------
Total current assets                                    1,353.4

Summary of Unpaid Postpetition Debits                      24.8
Intercompany Loans Receivable (Payable)                 1,678.2
                                                       --------
Intercompany Balances                                   1,703.0

Property, plant and equipment                             766.4
Goodwill                                                  930.5
Other intangible assets                                   340.1
Insurance recoverable                                     880.2
Other non-current assets                                  521.2
                                                       --------
Total Assets                                          US$6,494.9
                                                       ========

               Liabilities and Shareholders' Equity

Short-term debt
US$708.1
Accounts payable                                          239.9
Accrued compensation                                       62.4
Restructuring and rationalization reserves                 17.0
Current portion of asbestos liability                         -
Interest payable                                            3.8
Other accrued liabilities                                 261.0
                                                       --------
Total current liabilities                               1,292.2

Long-term debt                                                -
Post-employment benefits                                  725.1
Other accrued liabilities                                 546.5
Liabilities subject to compromise                       5,456.9

Shareholders' equity:
   Preferred stock                                      1,050.6
   Common stock                                           662.1
   Additional paid-in capital                           7,997.3
   Accumulated deficit                                (11,424.1)
   Accumulated other comprehensive income                 188.4
   Other                                                      -
                                                       --------
Total Shareholders' Equity                             (1,525.7)
                                                       --------
Total Liabilities and Shareholders' Equity           US$6,494.9
                                                       ========


                Federal-Mogul Global, Inc., et al.
                Unaudited Statement of Operations
               For the Month Ended August 31, 2007
                          (In millions)

Net sales
US$283.8
Cost of products sold                                     236.1
                                                       --------
Gross margin                                               47.6

Selling, general & administrative expenses                (44.6)
Amortization                                               (1.2)
Reorganization items                                       (4.2)
Interest income (expense), net                            (16.3)
Other income (expense), net                                 8.4
                                                       --------
Earnings before Income Taxes                              (10.2)

Income Tax (Expense) Benefit                               (0.2)
                                                       --------
Earnings before cumulative effect of change
   in accounting principle                                (10.4)
                                                       --------
Net Earnings (loss)                                    (US$10.4)
                                                       ========


                Federal-Mogul Global, Inc., et al.
                Unaudited Statement of Cash Flows
               For the Month Ended August 31, 2007
                          (In millions)

Cash Provided From (Used By) Operating Activities:
   Net earning (loss)
(US$10.4)
Adjustments to reconcile net earnings (loss) to net cash:
   Depreciation and amortization                           15.1
   Adjustment of assets held for sale and
      other long-lived assets to fair value                   -
   Asbestos charge                                            -
   Summary of unpaid postpetition debits                      -
   Cumulative effect of change in acctg. principle            -
   Change in post-employment benefits                       0.4
   Decrease (increase) in accounts receivable              (3.6)
   Decrease (increase) in inventories                      11.9
   Increase (decrease) in accounts payable                 (5.5)
   Change in other assets & other liabilities             (33.3)
   Change in restructuring charge                             -
   Refunds (payments) against asbestos liability              -
                                                       --------
Net Cash Provided From Operating Activities               (25.2)

Cash Provided From (Used By) Investing Activities:
   Expenditures for property, plant & equipment            (6.6)
   Proceeds from sale of property, plant & equipment          -
   Proceeds from sale of businesses                           -
   Business acquisitions, net of cash acquired                -
   Other                                                      -
                                                       --------
Net Cash Provided From (Used By) Investing Activities      (6.6)

Cash Provided From (Used By) Financing Activities:
   Increase (decrease) in debt                             25.1
   Sale of accounts receivable under securitization           -
   Dividends                                                  -
   Other                                                   (0.1)
                                                       --------
Net Cash Provided From Financing Activities                25.0

Increase (Decrease) in Cash and Equivalents                (6.8)

Cash and equivalents at beginning of period                59.1
                                                       --------
Cash and equivalents at end of period                   US$52.3
                                                       ========

Based in Southfield, Michigan, Federal-Mogul Corporation --
http://www.federal-mogul.com/-- is an automotive parts company
with worldwide revenue of some US$6 billion.  Federal-Mogul also
has operations in Mexico and the Asia Pacific Region, which
includes, Malaysia, Australia, China, India, Japan, Korea, and
Thailand.  In Europe, the company maintains operations in
Belgium, France, Germany, Poland and the United Kingdom.

The Company filed for chapter 11 protection on Oct. 1, 2001
(Bankr. Del. Case No. 01-10582).  Lawrence J. Nyhan Esq., James
F. Conlan Esq., and Kevin T. Lantry Esq., at Sidley Austin Brown
& Wood, and Laura Davis Jones Esq., at Pachulski, Stang, Ziehl,
Young, Jones & Weintraub, P.C., represent the Debtors in their
restructuring efforts.  When the Debtors filed for protection
from their creditors, they listed US$10.15 billion in assets and
US$8.86 billion in liabilities.  Federal-Mogul Corp.'s U.K.
affiliate, Turner & Newall, is based at Dudley Hill, Bradford.
Peter D. Wolfson, Esq., at Sonnenschein Nath & Rosenthal; and
Charlene D. Davis, Esq., Ashley B. Stitzer, Esq., and Eric M.
Sutty, Esq., at The Bayard Firm represent the Official Committee
of Unsecured Creditors.

On March 7, 2003, the Debtors filed their Joint Chapter 11 Plan.
They submitted a Disclosure Statement explaining that plan on
April 21, 2003.  They submitted several amendments and on June
6, 2004, the Bankruptcy Court approved the Third Amended
Disclosure Statement for their Third Amended Plan.  On July 28,
2004, the District Court approved the Disclosure Statement.  The
estimation hearing began on June 14, 2005.  The Debtors
submitted a Fourth Amended Plan and Disclosure Statement on Nov.
21, 2006, and the Bankruptcy Court approved that Disclosure
Statement on Feb. 6, 2007.  The confirmation hearing began on
June 18, 2007.  The Court heard closing arguments regarding
confirmation of the Plan on  October 1 and 2, 2007.  The Debtors
proposed certain modifications to the Plan at the end of closing
arguments on Oct. 2.  The Debtors officially filed the Plan
Modifications, together with a revised Proposed Order confirming
the Plan, on Oct. 4.  (Federal-Mogul Bankruptcy News, Issue No.
147; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


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


DELPHI CORP: Posts US$100 Mln Net Loss in Month Ended August 31
---------------------------------------------------------------
                    Delphi Corporation, et al.
               Unaudited Consolidated Balance Sheet
                      As of August 31, 2007
                          (In Millions)

                              ASSETS

Current assets:
   Cash and cash equivalents
US$20
   Restricted cash                                          138
   Accounts receivable, net:
      General Motors and affiliates                       1,545
      Other third parties                                   972
      Non-Debtor affiliates                                 367
   Notes receivable from non-Debtor affiliates              292
   Inventories, net:
      Productive material, work-in-process & supplies       862
      Finished goods                                        249
   Other current assets                                     226
                                                       --------
      TOTAL CURRENT ASSETS                                4,671

Long-term assets:
   Property, net                                          1,819
   Investment in affiliates                                 362
   Investments in non-Debtor affiliates                   3,936
   Goodwill                                                 152
   Other intangible assets                                   28
   Other                                                    301
                                                       --------
      TOTAL LONG-TERM ASSETS                              6,598
                                                       --------
TOTAL ASSETS                                          US$11,269
                                                       ========

              LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities not subject to compromise:
   Debtor-in-possession financing
US$3,105
   Accounts payable                                       1,261
   Accounts payable to non-Debtor affiliates                623
   Accrued liabilities                                      763
   Notes payable to non-Debtor affiliates                   131
                                                       --------
   TOTAL CURRENT LIABILITIES                              5,883

Long-term liabilities not subject to compromise:
   Employee benefit plan obligations and other              707

Liabilities subject to compromise                        18,216
                                                       --------
   TOTAL LIABILITIES                                     24,806

Stockholders' deficit:
   Common stock                                               6
   Additional paid-in capital                             2,779
   Accumulated deficit                                  (13,534)
   Accumulated other comprehensive loss                  (2,736)
   Treasury stock, at cost (3.2 million shares)             (52)
                                                       --------
   TOTAL STOCKHOLDERS' DEFICIT                          (13,537)
                                                       --------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT           US$11,269
                                                       ========


                    Delphi Corporation, et al.
          Unaudited Consolidated Statement of Operations
                   Month Ended August 31, 2007
                          (In Millions)

Net sales:
   General Motors and affiliates
US$925
   Other customers                                          554
   Non-Debtor affiliates                                     45
                                                       --------
Total net sales                                           1,524
                                                       --------
Operating expenses:
   Cost of sales                                          1,463
   Long-lived asset impairment charges                        -
   Securities & ERISA litigation charge                      21
   Depreciation and amortization                             41
   Selling, general and administrative                       93
                                                       --------
Total operating expenses                                  1,618
                                                       --------
Operating loss                                              (94)

Interest expense                                            (24)
Loss on extinguishment of debt                                -
Other (expense) income, net                                  16

Reorganization items                                        (14)
Income tax benefit (expense)                                  -
Equity income from non-consolidated affiliates                1
Equity income from non-Debtor affiliates                     15
                                                       --------
NET LOSS                                                (US$100)
                                                       ========


                    Delphi Corporation, et al.
          Unaudited Consolidated Statement of Cash Flows
                   Month Ended August 31, 2007
                          (In Millions)

Cash flows from operating activities:
   Net loss                                             (US$100)
   Adjustments to reconcile net loss
    to net cash provided by operating activities:
    Depreciation and amortization                            41
    Deferred income taxes                                    (1)
    Pension and other postretirement benefit expenses        78
    Equity income from unconsolidated affiliates             (1)
    Equity income from non-Debtor affiliates                (15)
    Reorganization items                                     14
    Securities & ERISA litigation charges                    21
   Changes in operating assets and liabilities:
    Accounts receivable, net                                (84)
    Inventories, net                                         17
    Other assets                                              8
    Accounts payable, accrued and other long-term debts     (98)
    U.S. employee special attrition program                 (14)
    Other postretirement benefit payments                   (20)
    Pension contributions                                    (1)
    Payments for reorganization items                       (11)
    Other                                                    (2)
                                                       --------
Net cash used in operating activities                      (168)

Cash flows from investing activities:
   Capital expenditures                                     (22)
   Increase in restricted cash                              (28)
   Other                                                      4
                                                       --------
Net cash used in investing activities                       (46)

Cash flows from financing activities:
   Net proceeds from DIP facility                            75
   Net repayments of borrowings under other debt pacts      131
   Other                                                     (2)
                                                       --------
Net cash used in financing activities                       204
                                                       --------
Decrease in cash and cash equivalents                       (10)
Cash and cash equivalents at beginning of period             30
                                                       --------
Cash and cash equivalents at end of period                US$20
                                                       ========

Headquartered in Troy, Mich., Delphi Corporation (OTC: DPHIQ) --
http://www.delphi.com/-- is the single supplier of vehicle
electronics, transportation components, integrated systems and
modules, and other electronic technology.  The company's
technology and products are present in more than 75 million
vehicles on the road worldwide.  Delphi has regional
headquarters in Japan, Brazil and France.

The company filed for chapter 11 protection on Oct. 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represents the Official Committee of Unsecured Creditors.  As of
Mar. 31, 2007, the Debtors' balance sheet showed
US$11,446,000,000 in total assets and US$23,851,000,000 in total
debts.

The Debtors' exclusive plan-filing period expires on Dec. 31,
2007.  On Sept. 6, 2007, the Debtors filed their Chapter 11 Plan
of Reorganization and a Disclosure Statement explaining that
Plan.    (Delphi Bankruptcy News, Issue No. 87 Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).


EMT 25: Enters Into Receivership Procedure
------------------------------------------
The commercial court at Besanco has placed French car parts
specialist EMT 25 under receivership, the Financial Times
reports, citing Les Echos as its source.

According to the report, EMT 25, which employs 196 people, is
given 10 months to come up with a recovery plan.

The company implemented restructuring measures at the end of
2006, FT relates.


EUROTUNNEL GROUP: To Launch Reverse Stock Split for GET Shares
--------------------------------------------------------------
The board of Eurotunnel Group decided to launch a reverse stock
split of GET shares.  The event which is planned to start on
Nov. 12, 2007, will be initiated, as set out in the safeguard
plan, with a ratio of one new share for every 40 old shares.

At the same meeting, the Board, in accordance with AMF
regulations, decided on the principle of a "contrat d’animation
de marche" (market maker’s contract) in order to reduce the
excessive volatility in the shares.

"This consolidation constitutes a further step in the financial
restructuring of the group, as set out in the safeguard plan.
Our shares will have a visibility in the market which better
reflects the real value of the company, today and for the
future," Jacques Gounon, chairman and CEO of Groupe Eurotunnel,
disclosed.

The detailed terms of these actions will be the subject of
further detailed notices and of an announcement by the company.

                       About Eurotunnel

Headquartered in Folkestone, United Kingdom and Calais, France,
Eurotunnel Group (aka Groupe Eurotunnel S.A.) --
http://www.eurotunnel.co.uk/-- operates a fleet of 25 shuttle
trains, which carry cars, coaches and trucks.  It manages the
infrastructure of the Channel Tunnel and receives toll revenues
from train operating companies whose trains pass through the
Tunnel.

The British and French governments have granted Eurotunnel a
concession to operate the Channel Tunnel until 2086.

Eurotunnel Group files reports in the U.S. Securities and
Exchange Commission under the names of Eurotunnel PLC (ETNUF.PK)
and Eurotunnel S.A. (ETTFF.PK).

At Dec. 31, 2006, Eurotunnel's balance sheet showed GBP5.25
billion in total assets, GBP6.56 billion in total liabilities
and GBP1.32 billion in shareholders' deficit.

                    Safeguard Protection

Eurotunnel obtained Aug. 2, 2006, an order placing the channel
operator under the protection of the Court pursuant to the new
safeguard legislation (Procedure de sauvegarde).  At the end of
2006, the group's creditors and bondholders approved a plan to
decrease its GBP6.2 billion debt to GBP2.84 billion.

On Jan. 15, 2007, the Court approved Eurotunnel's safeguard
plan, backed by the court-appointed representatives to the
company and to the creditors.

For the first half ended June 30, 2007, Group Eurotunnel posted
net loss of EUR32 million compared with a net loss of EUR105
million for the same period in 2006.


EXIDE TECHNOLOGIES: US$91.7 Million Rights Offering Expires
-----------------------------------------------------------
Exide Technologies announced that the US$91.7 million rights
offering launched on Aug. 31, 2007 expired effective as of 5:00
p.m., New York City time, on Sept. 28, 2007.  Based on
preliminary results, subscribers in the rights offering,
including Tontine Capital Partners L.P. and Legg Mason
Investment Trust, Inc., subscribed for greater than 75% of the
14 million shares offered in the rights offering pursuant to
their basic subscription rights.  The company expects to receive
the full US$91.7 million in proceeds as a result of shares
purchased in the rights offering and the transactions
contemplated by the standby commitment of the Standby
Purchasers.

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

The company has operations in 89 countries, including,
Australia, India, Finland, Poland, New Zealand, among others.

The company filed for chapter 11 protection on Apr. 14, 2002
(Bankr. Del. Case No. 02-11125).  Matthew N. Kleiman, Esq., and
Kirk A. Kennedy, Esq., at Kirkland & Ellis, represented the
Debtors in their successful restructuring.  The Court confirmed
Exide's Amended Joint Chapter 11 Plan on April 20, 2004.  The
plan took effect on May 5, 2004.

                          *     *     *

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


KAUFMAN & BROAD: Earns EUR70.3 Million in 9-Month Ended Aug. 31
---------------------------------------------------------------
Kaufman & Broad SA released its unaudited financial results for
the first nine months ended Aug. 31, 2007.

Kaufman & Broad reported a net income of EUR70.3 million on
EUR949 million of revenues for the first nine months ended
Aug. 31, 2007, compared with a net income of EUR65.2 million on
EUR874.6 million of revenues for the same period in 2006.

Gross profit for the first nine months was up 10.7%, at EUR225
million, while gross margin was 0.5 points higher, at 23.7% of
revenues.

Current operating profit rose by 14.8% to EUR127.2 million,
helping to improve the current operating margin by 0.7 points,
to 13.4% of revenues from 12.7% in the first nine months of
2006. In the third quarter alone, the margin stood at 14.5%.

At Aug. 31, 2007, the company’s consolidated balance sheet
showed EUR1.4 billion in total assets, EUR1.1 billion in total
liabilities and EUR231.3 million in shareholders’ equity.

Chairman and Chief Executive Officer Mr. Guy Nafilyan noted that
"operating margins remained high in the first nine months of
fiscal 2007, which saw a continuation of the growth momentum
reported in the first half.  Orders enjoyed sustained growth in
the third quarter, gaining more than 9% in volume.  In a
comparable economic environment, revenues should end the year up
by more than 10% and margins should remain strong."

As of August 31, 2007, PAI held, via Financiere Gaillon 8 SAS,
79.46% of outstanding Kaufman & Broad SA shares.  The
acquisition of this controlling interest involved several
transactions that had an impact both on income attributable to
shareholders and on the balance sheet structure.

The buyback of the Kaufman & Broad brand and the consequences of
the transactions related to PAI acquisition of a controlling
interest on income taxes increased nine-month 2007 income
attributable to shareholders by nearly EUR10 million.

Implementation of the new balance sheet structure helped to
lengthen debt maturity to 7.6 years at Aug. 31, 2007 from 2.5
years at May 31, 2007.  The cost of the tender offer for the
company’s senior notes and the amortization of the balance of
issue costs on the syndicated line of credit and the senior
notes issue represented an aggregate expense of around EUR15
million, which was recognized in other financial income and
expenses for the period.

                    About Kaufman & Broad S.A.

Headquartered in Paris, France, Kaufman & Broad S.A. (Paris:
KOF) -- http://www.uk.ketb.com/uk/home-france/index.asp-- is
one of France’s leading property developers and builders.
Kaufman & Broad has operations in Paris, Bayonne, Bordeaux,
Grenoble, Lille, Lyon, Marseille, Montpellier, Nantes, Nice,
Rouen, Strasbourg, Toulon and Toulouse.

                          *     *     *


As reported in the Troubled Company Reporter on Oct. 4, 2007,
Fitch Ratings has affirmed French house builder Kaufman & Broad
SA's Long-term Issuer Default rating and senior unsecured rating
at 'BB-' and removed them from Rating Watch Negative.  Fitch has
also affirmed KBSA's Short-term IDR at 'B'.  The Outlook for the
Long-term IDR is Stable.  Fitch has simultaneously withdrawn all
ratings of KBSA.


SOLECTRON CORP: Agent Discloses Final Result of Exchange
--------------------------------------------------------
Computershare Shareholders Services Inc., the exchange agent for
the transaction, reported final results for the elections made
by Solectron Corporation stockholders regarding the form
of merger consideration they will receive in the merger with
Flextronics International Ltd.  Computershare has calculated
that of the 918,438,865 shares of Solectron common stock
outstanding as of the effective time of the merger:

   -- 725,108,506 of the outstanding Solectron shares have
      submitted valid elections to receive Flextronics
      ordinary shares;

   -- 81,440,695 of the outstanding Solectron shares have
      submitted valid elections to receive cash; and

   -- 111,889,664 of the outstanding Solectron shares did not
      submit valid elections.

Pursuant to the terms of the merger agreement, Solectron
stockholders were entitled to elect to receive either 0.3450 of
a Flextronics ordinary share or US$3.89 in cash for each share
of Solectron common stock, subject to proration due to minimum
and maximum limits on the amount of stock consideration and cash
consideration.  The election deadline expired at 5:00 p.m., EDT,
on Sept. 27, 2007.

Based on the election results and the terms of the merger
agreement:

   -- Solectron stockholders who elected to receive stock
      consideration will receive Flextronics ordinary shares
      with respect to approximately 88.66% of their Solectron
      shares and cash with respect to approximately 11.34% of
      their Solectron shares;

   -- Solectron stockholders who elected to receive cash
      consideration will receive cash with respect to all of
      their Solectron shares; and

   -- Solectron stockholders that failed to submit a valid
      election will receive cash with respect to all of their
      Solectron shares.

Flextronics will pay approximately US$1.07 billion in cash and
issue approximately 221.8 million Flextronics ordinary shares
pursuant to the merger.  No fractional Flextronics ordinary
shares will be issued.  Instead, each Solectron stockholder that
would otherwise be entitled to receive Flextronics fractional
shares will receive an amount in cash based on
US$11.42 per Flextronics ordinary share, the average of the per
share closing prices of Flextronics ordinary shares reported on
the NASDAQ Global Select Market during the five consecutive
trading days ending on the trading day immediately preceding the
closing date of the merger.

Solectron stockholders with questions regarding individual
allocation results should contact Innisfree M&A Incorporated
toll free from within the United States and Canada at 877-825-
8971.

                About Flextronics International

Headquartered in Singapore, Flextronics International Ltd.
(NasdaqGS: FLEX) -- http://www.flextronics.com/-- is an
Electronics Manufacturing Services provider focused on
delivering design, engineering and manufacturing services to
automotive, computing, consumer digital, industrial,
infrastructure, medical and mobile OEMs.  Flextronics helps
customers design, build, ship, and service electronics products
through a network of facilities in over 30 countries on four
continents.

                  About Solectron Corporation

Based in Milpitas, California, Solectron Corporation (NYSE: SLR)
-- http://www.solectron.com/-- provides complete product
lifecycle services.  The company offers collaborative design and
new product introduction, supply chain management, lean
manufacturing and aftermarket services such as product warranty
repair and end-of-life support to customers worldwide.  The
company works with the providers of networking, computing,
telecommunications, storage, consumer, automotive, industrial,
medical, self-service automation and aerospace and defense
products.  The company's Lean Six Sigma methodology provides
OEMs with quality, flexibility, innovation and cost benefits
that improve competitive advantage.  Solectron operates in more
than 20 countries on five continents including France, Malaysia,
and Brazil, among others.

                          *     *     *

Moody's Investors Service upgraded Solectron's convertible
senior notes and senior subordinated notes to Ba2 from B3 and
withdrew Solectron's B1 corporate family, B1 probability-of-
default and SGL-1 speculative grade liquidity ratings.


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


AD2MEDIA GMBH: Claims Registration Ends Nov. 6
----------------------------------------------
Creditors of Ad2media GmbH have until Nov. 6 to register their
claims with court-appointed insolvency manager Rolf G. Pohlmann.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Dec. 6, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Rolf G. Pohlmann
         Rosental 6
         80331 Munich
         Germany
         Tel: (089)548033-0
         Fax: (089)548033-111

The District Court of Munich opened bankruptcy proceedings
against Ad2media GmbH on Sept. 24.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Ad2media GmbH
         Kurfuerstenstr. 79
         10787 Berlin
         Germany


ALLTAX STEUERBERATUNGSGESELLSCHAFT: Creditors' Claim Due Nov. 14
----------------------------------------------------------------
Creditors of Alltax Steuerberatungsgesellschaft mbH have until
Nov. 14 to register their claims with court-appointed insolvency
manager Alexander Kaesebier.

Creditors and other interested parties are encouraged to attend
the meeting at 10:10 a.m. on Dec. 11, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Alexander Kaesebier
         Tschaikowskistrasse 23
         04105 Leipzig
         Germany

The District Court of Halle-Saalkreis opened bankruptcy
proceedings against Alltax Steuerberatungsgesellschaft mbH on
Sept. 18.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Alltax Steuerberatungsgesellschaft mbH
         Merseburger Str. 7
         06667 Weissenfels
         Germany


CHRYSLER LLC: Intends to Close Assembly Plant in Illinois
---------------------------------------------------------
Chrysler LLC, which has started contract negotiations with the
United Auto Workers union this week, plans to shutter an
assembly plant in Belvidere, Illinois, that produces the Dodge
Caliber, Jeep Compass and Jeep Patriot, Kevin Krolicki of
Reuters reports.

According to Mr. Krolicki, Chrysler spokeswoman Michele Tinson
said that the temporary shutdown was being done to adjust
inventory levels of the plant, which employs 3,400 workers.

As reported in the Troubled Company Reporter on Oct. 4, 2007,
Chrysler reported U.S. sales for September 2007 of 159,799
units; down 5% compared to September 2006 with 168,888 units
sold.  Jeep(R) brand sales were down 11% year-over-year with
retail sales up and fleet down driven by planned fleet
reductions, while Wrangler posted gains.  Jeep Wrangler and
Wrangler Unlimited posted sales of 8,605 units, up 71% versus
September 2006.  Dodge brand sales increased 5% over last year
led by Dodge Ram which posted a gain of 20%.  The all-new Dodge
Nitro was up 2% over August 2007.

                       About Chrysler LLC

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

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

                          *    *    *

On Oct. 1, 2007, Standard & Poor's Ratings Services placed its
corporate credit ratings on Chrysler LLC and DaimlerChrysler
Financial Services Americas LLC on CreditWatch with positive
implications.

As reported in the Troubled Company Reporter on Aug. 8, 2007,
Standard & Poor's Ratings Services revised its loan and recovery
ratings on Chrysler LLC's (B/Negative/--) US$10 billion senior
secured first-lien term loan facility due 2013, following
various changes to terms and conditions prior to closing.  The
US$10 billion first-lien term loan now consists of a US$5
billion "first-out" tranche and a US$5 billion "second-out"
tranche, so the aggregate amount of first-lien debt remains
unchanged.

Accordingly, S&P assigned a 'BB-' rating to the US$5 billion
"first-out" first-lien term loan tranche.  This rating, two
notches above the corporate credit rating of 'B' on Chrysler
LLC, and the '1' recovery rating indicate S&P's expectation for
very high recovery in the event of payment default.  S&P also
assigned a 'B' rating to the US$5 billion "second-out" first-
lien term loan tranche.  This rating, the same as the corporate
credit rating, and the '3' recovery rating indicate S&P's
expectation for a meaningful recovery in the event of payment
default.

Moody's Investors Service has affirmed Chrysler Automotive LLC's
B3 Corporate Family Rating, and the Caa1 rating of the company's
US$2 billion senior secured, second lien term loan in connection
with Monday's closing of DaimlerChrysler AG's sale of a majority
interest of Chrysler Group to Cerberus Capital Management LLC.


DIALOG GMBH: Claims Registration Ends November 13
-------------------------------------------------
Creditors of DIALOG GmbH have until Nov. 13 to register their
claims with court-appointed insolvency manager Dr. Henning
Dohrmann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:55 a.m. on Dec. 13, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Dr. Henning Dohrmann
         Moltkestr. 12
         51643 Gummersbach
         Germany

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

The Debtor can be reached at:

         DIALOG GmbH
         Berta-Schulz-Str. 7
         51674 Wiehl
         Germany

         Attn: Bernd Theinert, Manager
         Legefeld 2
         99423 Weimar
         Germany


FIRSTCLASS SPORT: Claims Registration Ends November 13
------------------------------------------------------
Creditors of Firstclass Sport Cars GmbH have until Nov. 13 to
register their claims with court-appointed insolvency manager
Dr. Joerg Nerlich.

Creditors and other interested parties are encouraged to attend
the meeting at 11:15 a.m. on Dec. 11, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Cologne
         Meeting Hall 14
         Ground Floor
         Luxemburger Str. 101
         50939 Cologne
         Germany

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

The insolvency manager can be reached at:

         Dr. Joerg Nerlich
         Aachener Str. 563-565
         50933 Cologne
         Germany

The District Court of Cologne opened bankruptcy proceedings
against Firstclass Sport Cars GmbH on Sept. 12.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Firstclass Sport Cars GmbH
         Attn: Eric van de Veen and Alexander Morlock, Managers
         Kaiser-Wilhelm-Ring 27-29
         50672 Cologne
         Germany


FLAIR POLSTERMOEBELVERTRIEB: Claims Registration Ends Oct. 26
-------------------------------------------------------------
Creditors of Flair Polstermoebelvertrieb Verwaltungs GmbH have
until Oct. 26 to register their claims with court-appointed
insolvency manager Biner Bahr.

Creditors and other interested parties are encouraged to attend
the meeting at 11:10 a.m. on Nov. 16, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

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

The District Court of Detmold opened bankruptcy proceedings
against Flair Polstermoebelvertrieb Verwaltungs GmbH on
Sept. 20.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Flair Polstermoebelvertrieb Verwaltungs GmbH
         Daimlerstr. 29
         32257 Buende
         Germany

         Attn: Gregor Noelle, Manager
         Kirchplatz 2
         33422 Herzebrock-Clarholz
         Germany


FM MOEBEL: Claims Registration Period Ends Oct. 23
--------------------------------------------------
Creditors of FM Moebel GmbH have until Oct. 23 to register their
claims with court-appointed insolvency manager Sven-Holger
Undritz.

Creditors and other interested parties are encouraged to attend
the meeting at noon on Nov. 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 Detmold
         Meeting Room 12
         Ground Floor
         Gerichtsstr. 6
         32756 Detmold
         Germany

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

The insolvency manager can be reached at:

         Dr. Sven-Holger Undritz
         Jungfernstieg 51
         20354 Hamburg
         Germany

The District Court of Detmold opened bankruptcy proceedings
against FM Moebel GmbH on Sept. 20.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         FM Moebel GmbH
         Vlothoer Str. 119
         32547 Bad Oeynhausen
         Germany

         Attn: Heinz Reker, Manager
         Kastanienweg 14
         32676 Luegde
         Germany


G & Z FACILITY: Claims Registration Period Ends Oct. 23
-------------------------------------------------------
Creditors of G & Z Facility Service GmbH have until Oct. 23 to
register their claims with court-appointed insolvency manager
Goerge Scheid.

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

The meeting of creditors will be held at:

         The District Court of Gera
         Room 317
         Rudolf-Diener-Str. 1
         Gera
         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:

         Goerge Scheid
         Rudolf-Diener-Str. 9
         07545 Gera
         Germany

The District Court of Gera opened bankruptcy proceedings against
G & Z Facility Service GmbH on Sept. 27.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         G & Z Facility Service GmbH
         Attn: Oleg Morunov, Manager
         Randla-32
         Estonia
         Germany


INGENIEURBUERO FUER TRAGWERKSPLANUNG: Claims Bar Date on Oct. 25
----------------------------------------------------------------
Creditors of Ingenieurbuero fuer Tragwerksplanung Hubertus
Zimmerling GmbH & Co. KG have until Oct. 25 to register their
claims with court-appointed insolvency manager Paul Fink.

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

The meeting of creditors will be held at:

         The District Court of Duesseldorf
         Meeting Hall A 409
         Fourth Floor
         Muehlenstrasse 34
         40213 Duesseldorf
         Germany

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

The insolvency manager can be reached at:

         Dr. Paul Fink
         Rheinort 1
         40213 Duesseldorf
         Germany

The District Court of Duesseldorf opened bankruptcy proceedings
against Ingenieurbuero fuer Tragwerksplanung Hubertus Zimmerling
GmbH & Co. KG on Sept. 25.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Ingenieurbuero fuer Tragwerksplanung Hubertus
         Zimmerling GmbH & Co. KG
         Friedenstr. 2
         40219 Duesseldorf
         Germany


LIESER & CO: Claims Registration Ends Nov. 9
--------------------------------------------
Creditors of Lieser & Company Immobilienmanagement GmbH have
until Nov. 9 to register their claims with court-appointed
insolvency manager Stefan Hinrichs.

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

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Stefan Hinrichs
         Kaiser-Wilhelm-Strasse 93
         20355 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against Lieser & Company Immobilienmanagement GmbH on Sept. 17.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Lieser & Company Immobilienmanagement GmbH
         Himmelstr. 9
         22299 Hamburg
         Germany


MALERWERKSTATTEN PITTURA: Creditors Must File Claims by Nov. 13
---------------------------------------------------------------
Creditors of Malerwerkstatten Pittura GmbH have until Nov. 13 to
register their claims with court-appointed insolvency manager
Karl-Dieter Sommerfeld.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on Dec. 13, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Karl-Dieter Sommerfeld
         Hammerweg 3
         51766 Engelskirchen
         Germany

The District Court of Cologne opened bankruptcy proceedings
against Malerwerkstatten Pittura GmbH on Sept. 18.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Malerwerkstatten Pittura GmbH
         Hirschanger 2
         51427 Bergisch Gladbach
         Germany


MCFLIGHT FLUGVERMITTLUNG: Claims Registration Ends Nov. 12
----------------------------------------------------------
Creditors of McFLIGHT Flugvermittlung GmbH have until Nov. 12 to
register their claims with court-appointed insolvency manager
Dr. Franz-Josef Hansen.

Creditors and other interested parties are encouraged to attend
the meeting at 2:00 p.m. on Dec. 12, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Aschaffenburg
         Meeting Hall 5.103
         Schlossplatz 5
         63739 Aschaffenburg
         Germany

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

The insolvency manager can be reached at:

         Dr. Franz-Josef Hansen
         Kapuzinerplatz 1
         63739 Aschaffenburg
         Germany
         Tel: 06021/386710
         Fax: 06021/3867130)

The District Court of Aschaffenburg opened bankruptcy
proceedings against McFLIGHT Flugvermittlung GmbH on Sept. 15.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         McFLIGHT Flugvermittlung GmbH
         Elisenstr. 13
         63739 Aschaffenburg
         Germany


MEDICAL VITA: Claims Registration Period Ends Oct. 30
-----------------------------------------------------
Creditors of Medical Vita GmbH have until Oct. 30 to register
their claims with court-appointed insolvency manager Anton
Rosenauer.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 a.m. on Dec. 4, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Stuttgart
         Room 178
         Hauffstr. 5
         70190 Stuttgart
         Germany

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

The insolvency manager can be reached at:

         Anton Rosenauer
         Industriestr. 3
         70565 Stuttgart
         Germany
         Tel: 0711/2 31 75 93
         Fax: 0711/2 31 75 94

The District Court of Stuttgart opened bankruptcy proceedings
against Medical Vita GmbH on Sept. 26.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Medical Vita GmbH
         Attn: Sandra Diebold, Manager
         Calwer Str. 27
         70173 Stuttgart
         Germany


NORMBAU VERWALTUNG: Claims Registration Period Ends Oct. 23
-----------------------------------------------------------
Creditors of Normbau Verwaltung GmbH have until Oct. 23 to
register their claims with court-appointed insolvency manager
Andreas Stratenwerth.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on Nov. 13, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Andreas Stratenwerth
         Lemgoer Str. 4
         33604 Bielefeld
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against Normbau Verwaltung GmbH on Sept. 24.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Normbau Verwaltung GmbH
         Fichtenweg 13
         33649 Bielefeld
         Germany

         Attn: Johann Schmidt, Manager
         Essener Str. 21
         33649 Bielefeld
         Germany


RAPID BAU: Claims Registration Ends Nov. 11
-------------------------------------------
Creditors of Rapid Bau GmbH have until Nov. 11 to register their
claims with court-appointed insolvency manager Dr. Ruediger
Werres.

Creditors and other interested parties are encouraged to attend
the meeting at 10:50 a.m. on Dec. 11, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Dr. Ruediger Werres
         Friesenplatz 17 a
         50672 Cologne
         Russia

The District Court of Cologne opened bankruptcy proceedings
against Rapid Bau GmbH on Sept. 24.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Rapid Bau GmbH
         Rodenkirchener Str. 79
         50997 Cologne
         Germany


RHEIN-RUHR-POLSTER GMBH: Claims Registration Period Ends Oct. 15
----------------------------------------------------------------
Creditors of RHEIN-RUHR-POLSTER GmbH have until Oct. 15 to
register their claims with court-appointed insolvency manager
Raimund Kress.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on Nov. 5, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Essen
         Meeting Hall 293
         Zweigertstr. 52
         45130 Essen
         Germany

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

The insolvency manager can be reached at:

         Raimund Kress
         Universitaetsstrasse 125
         44789 Bochum
         Germany

The District Court of Essen opened bankruptcy proceedings
against RHEIN-RUHR-POLSTER GmbH on Sept. 21.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         RHEIN-RUHR-POLSTER GmbH
         Attn: Karl-Heinz Voss, Manager
         Husmannshofstr. 10
         45143 Essen
         Germany


SANGER & MASSIERER: Claims Registration Ends November 12
--------------------------------------------------------
Creditors of Sanger & Massierer GmbH have until Nov. 12 to
register their claims with court-appointed insolvency manager
Hermann Berding.

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

The meeting of creditors will be held at:

         The District Court of Delmenhorst
         Hall 2
         Branch 1
         Cramerstrasse 183
         27749 Delmenhorst
         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:

         Hermann Berding
         Jammertal 1, D
         49661 Cloppenburg
         Germany
         Tel: 04471/91260
         Fax: 04471/82997

The District Court of Delmenhorst opened bankruptcy proceedings
against Sanger & Massierer GmbH on Sept. 14.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Sanger & Massierer GmbH
         Harpstedter Str. 44
         27793 Wildeshausen
         Germany

         Attn: Andreas Lieb, Manager
         Twistringer Weg 1
         27793 Wildeshausen
         Germany


SENSORVISION DIGITAL: Claims Registration Ends November 12
----------------------------------------------------------
Creditors of SensorVision Digitalbildtechnik GmbH have until
Nov. 12 to register their claims with court-appointed insolvency
manager Patrick Wahren.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 a.m. on Dec. 10, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Aalen
         Hall 0.11
         Ground Floor
         Stuttgarter Strasse 7
         73430 Aalen
         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:

         Patrick Wahren
         Koenigstr. 18
         70173 Stuttgart
         Germany
         Tel: 0711/22054860
         Fax: 0711/220548699
         E-Mail: patrick.wahren@skp-de.com
         Web site: http://www.skp-de.com/

The District Court of Aalen opened bankruptcy proceedings
against SensorVision Digitalbildtechnik GmbH on Sept. 21.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         SensorVision Digitalbildtechnik GmbH
         Goethestrasse 5
         89551 Koenigsbronn
         Germany

         Attn: Wolf-Dieter Teuchert, Manager
         Kepplerstrasse 6
         73432 Aalen
         Germany


SHABANI PUTZ: Claims Registration Period Ends Oct. 25
-----------------------------------------------------
Creditors of Shabani Putz und Stukkateur GmbH have until Oct. 25
to register their claims with court-appointed insolvency manager
Volker Quinkert.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 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 Moenchengladbach
         Meeting Hall A 14
         Ground Floor
         Hohenzollernstr. 157
         41061 Moenchengladbach
         Germany

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

The insolvency manager can be reached at:

         Volker Quinkert
         Brucknerallee 6
         41236 Moenchengladbach
         Germany
         Tel: 02166/6189898
         Fax: +4921666189888

The District Court of Moenchengladbach opened bankruptcy
proceedings against Shabani Putz und Stukkateur GmbH on
Sept. 18.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Shabani Putz und Stukkateur GmbH
         Gierthmuehlenweg 39
         41065 Moenchengladbach
         Germany

         Attn: Basri Shabani, Manager
         Erzbergerstrasse 152
         41061 Moenchengladbach
         Germany


SPECTRUM BRANDS: Names Anthony Genito as Chief Financial Officer
----------------------------------------------------------------
Spectrum Brands, Inc. disclosed that Amy J. Yoder will assume
the title of President, United Industries, effective
immediately.  In addition, the company named Anthony L. Genito
to the position of Executive Vice President and Chief Financial
Officer.  Both Ms. Yoder and Mr. Genito will continue their
current reporting relationship to Chief Executive Officer Kent
J. Hussey.

"Amy is an outstanding executive who during her short tenure
with Spectrum Brands has been instrumental in setting our Home &
Garden division on the path to improved operating performance
and profitable growth," Mr. Hussey said.  "Her track record of
driving change, combined with her expertise in the home and
garden industry, will benefit the organization as we execute
against our growth strategy for this business. We're pleased to
recognize her contributions with this well-earned promotion."

"Tony has played a key leadership role in Spectrum Brands'
finance organization since joining the company three years ago,"
Mr. Hussey continued.  "His new role as Executive Vice President
recognizes his broader role in the strategic planning and
operational oversight of the company.  We are very pleased to
have the benefit of his expertise and leadership as we continue
to address opportunities for value creation."

Ms. Yoder, 40, who most recently served as Executive Vice
President, Home & Garden, joined Spectrum Brands in March of
2007.  She previously served as Vice President and General
Manager of Chemtura Corporation's Consumer Products Division.
Her background includes more than 15 years experience in the
consumer products and agribusiness industries in a variety of
leadership positions with Chemtura, Nufarm Americas, United Agri
Products, Monsanto and E.I. DuPont de Nemours.

Mr. Genito, 50, has over 27 years of management, finance and
operational experience, and most recently served as the
company's Senior Vice President and Chief Financial Officer.  He
joined Spectrum Brands in 2004 as Vice President, Finance. Prior
to joining the company, Genito was vice president - global
supply chain/global quality operations with Schering-Plough
Corporation, culminating twelve years with that company in
various financial positions of increasing responsibility.  He
began his career with Deloitte & Touche.

                    About Spectrum Brands Inc.

Headquartered in Atlanta, Georgia, Spectrum Brands Inc. (NYSE:
SPC) -- http://www.spectrumbrands.com/-- is a consumer products
company and a supplier of batteries and portable lighting, lawn
and garden care products, specialty pet supplies, shaving and
grooming and personal care products, and household insecticides.
Spectrum Brands' products are sold by the world's top 25
retailers and are available in more than one million stores in
120 countries around the world.  The company has manufacturing
and distribution facilities in China, Australia and New Zealand,
and sales offices in Melbourne, Shanghai, and Singapore.  The
company has approximately 8,400 employees worldwide.  The
company's European headquarters is located in Sulzbach, Germany.

                        *     *     *

As reported in the Troubled Company Reporter on Oct. 3, 2007,
Fitch Ratings has assigned a 'B/RR1' rating to Spectrum Brand's
new four-year, US$225 million senior secured asset-backed loan
facility priced at LIBOR +225 basis points.  Fitch also affirmed
these ratings: Issuer Default Rating at 'CCC', US$1 billion term
loan B at 'B/RR1', EUR350 million term loan at 'B/RR1', US$700
million 7.4% senior subordinated notes at 'CCC-/RR5', US$2.9
million 8.5% senior subordinated notes at 'CCC-/RR5', and US$347
million 11.25% variable rate toggle senior subordinated notes at
'CCC-/RR5'.  The Rating Outlook is Negative.


SPECTRUM BRANDS: Amy Yoder Assumes Role as United President
-----------------------------------------------------------
Spectrum Brands Inc. disclosed that Amy J. Yoder will assume the
title of President, United Industries, effective immediately.
In addition, the company named Anthony L. Genito to the position
of Executive Vice President and Chief Financial Officer.  Both
Ms. Yoder and Mr. Genito will continue their current reporting
relationship to Chief Executive Officer Kent J. Hussey.

"Amy is an outstanding executive who during her short tenure
with Spectrum Brands has been instrumental in setting our Home &
Garden division on the path to improved operating performance
and profitable growth," said Mr. Hussey.  "Her track record of
driving change, combined with her expertise in the home and
garden industry, will benefit the organization as we execute
against our growth strategy for this business.  We're pleased to
recognize her contributions with this well-earned promotion."

"Tony has played a key leadership role in Spectrum Brands'
finance organization since joining the company three years ago,"
continued Hussey.  "His new role as Executive Vice President
recognizes his broader role in the strategic planning and
operational oversight of the company.  We are very pleased to
have the benefit of his expertise and leadership as we continue
to address opportunities for value creation."

Ms. Yoder, who most recently served as Executive Vice President,
Home & Garden, joined Spectrum Brands in March of 2007.  She
previously served as Vice President and General Manager of
Chemtura Corporation's Consumer Products Division.  Her
background includes more than 15 years experience in the
consumer products and agribusiness industries in a variety of
leadership positions with Chemtura, Nufarm Americas, United Agri
Products, Monsanto and E.I. DuPont de Nemours.

Mr. Genito has over 27 years of management, finance and
operational experience, and most recently served as the
company's Senior Vice President and Chief Financial Officer.  He
joined Spectrum Brands in 2004 as Vice President, Finance. Prior
to joining the company, Mr. Genito was vice president - global
supply chain/global quality operations with Schering-Plough
Corporation, culminating twelve years with that company in
various financial positions of increasing responsibility.  He
began his career with Deloitte & Touche.

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

                        *     *     *

As reported in the Troubled Company Reporter on Oct. 3, 2007,
Fitch Ratings has assigned a 'B/RR1' rating to Spectrum Brand's
new four-year, US$225 million senior secured asset-backed loan
facility priced at LIBOR +225 basis points.  Fitch also affirmed
these ratings: Issuer Default Rating at 'CCC', US$1 billion term
loan B at 'B/RR1', EUR350 million term loan at 'B/RR1', US$700
million 7.4% senior subordinated notes at 'CCC-/RR5', US$2.9
million 8.5% senior subordinated notes at 'CCC-/RR5', and US$347
million 11.25% variable rate toggle senior subordinated notes at
'CCC-/RR5'.  The Rating Outlook is Negative.


ZWEITE VENTUS: Creditors Must File Claims by November 13
--------------------------------------------------------
Creditors of Zweite Ventus Grundstuecksverwaltungs-Gesellschaft
mbH & Co. Grundbesitz KG have until Nov. 13 to register their
claims with court-appointed insolvency manager Joachim Voigt-
Salus.

Creditors and other interested parties are encouraged to attend
the meeting at 11:35 a.m. on Dec. 13, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Joachim Voigt-Salus
         Rankestrasse 33
         10789 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Zweite Ventus Grundstuecksverwaltungs-
Gesellschaft mbH & Co. Grundbesitz KG on Sept. 19.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Zweite Ventus Grundstuecksverwaltungs-Gesellschaft mbH
         & Co. Grundbesitz KG
         Pariser Strasse 44
         10707 Berlin
         Germany


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


ARVINMERITOR INC: Amends Diluted Earnings Per Share Forecast
------------------------------------------------------------
ArvinMeritor Inc.'s senior vice president and treasurer, Mary
Lehmann, told investors Wednesday at the Deutsche Bank Leveraged
Finance Conference in Scottsdale, Arizona, that ArvinMeritor is
revising its forecast for diluted earnings per share from
continuing operations.

Jim Donlon, executive vice president and chief financial
officer, who also attended the conference, said, "In North
America, we are encountering a weaker than anticipated economic
environment in our Commercial Vehicle Systems business group
resulting from decreased freight volumes largely due to the
decline in housing construction.  Our customers expect the
housing recession to delay the recovery cycle for North America
commercial vehicle
production into the 2008 calendar year.  In addition, we are
incurring premium freight and labor inefficiencies mainly in
Europe, associated with unanticipated demand for higher
production of truck parts, which is creating capacity issues for
the entire supply chain.

"We anticipate that the company's earnings for the fourth
quarter of fiscal year 2007 will be negatively impacted by
approximately US$0.20 per diluted share due to the combination
of these market conditions," he continued.  "In addition, we
will also report non-recurring items in the fourth quarter
related to suppliers in financial distress, and tax law changes
in Germany, which will require a write-down of the value of
certain deferred tax assets. We expect these items to reduce our
earnings per share for the fourth fiscal quarter of 2007 by
approximately an additional US$0.20
per share."

                     Fiscal Year 2008 Outlook

"In fiscal year 2008, we anticipate the current soft market
conditions will continue in the short term with recovery later
in the year resulting in a range of US$1.40 to US$1.60 earnings
per share from continuing operations before special items for
fiscal year 2008," Mr. Donlon said.

"While we continue to be challenged by market conditions, we are
encouraged by the results we are seeing from our Performance
Plus profit improvement program.  As previously reported, we
expect to deliver cost improvements of US$75 million in 2008.

"We also are pleased by our Performance Plus growth initiatives,
including ArvinMeritor being sourced as the supplier on 55% of
the MRAP vehicles awarded thus far, with additional potential
upside as new awards are announced, and our arrangement with
Chery Motors in China that will ramp up to anticipated sales of
US$150 million annually by 2010.  In addition, our pension and
retiree medical costs will decrease, largely because of improved
funding and modifications to plan benefits.  We anticipate that
these savings, combined with our aggressive internal programs to
reduce SG&A costs, will help to mitigate the soft market
conditions in fiscal year 2008."

Headquartered in Troy, Michigan, ArvinMeritor, Inc. (NYSE: ARM)
-- http://www.arvinmeritor.com/-- supplies integrated systems,
modules and components to the motor vehicle industry.  The
company serves light vehicle, commercial truck, trailer and
specialty original equipment manufacturers and certain
aftermarkets.  ArvinMeritor employs about 29,000 people at more
than 120 manufacturing facilities in 25 countries.  These
countries are: China, India, Japan, Singapore, Thailand,
Australia, Venezuela, Brazil, Argentina, Belgium, Czech
Republic, France, Germany, Hungary, Italy, Netherlands, Spain,
Sweden, Switzerland, United Kingdom, among others.

                           *     *     *

As reported in the Troubled Company Reporter on Sept. 26,2007,
Fitch Ratings placed the Issuer Default at 'BB', Senior Secured
at 'BB+' and Senior Unsecured at 'BB-' ratings of ArvinMeritor
Inc. companies on Rating Watch Negative:


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


PARMALAT SPA: Increases Share Capital by EUR43,148
--------------------------------------------------
Parmalat S.p.A. communicates that, following the allocation of
shares to creditors of the Parmalat Group, the subscribed and
fully paid up share capital has now been increased by EUR43,148
to EUR1,651,997,435 from EUR1,651,954,287.  The share capital
increase is due to the exercise of 43,148 warrants.

The latest status of the share allotment is:

   -- 35,255,275 shares representing approximately 2.1% of the
      share capital are still in a deposit account c/o
      Parmalat S.p.A., of which:

      -- 13,567,303 or 0.8% of the share capital, registered
         in the name of individually identified commercial
         creditors, are still deposited in the intermediary
         account of Parmalat S.p.A. centrally managed by
         Monte Titoli (compared with 13,568,574 shares as at
         Sept. 3, 2007);

      -- 21,687,972 or 1.3% of the share capital registered
         in the name of the Foundation, called Fondazione
         Creditori Parmalat, of which:

         -- 120,000 shares representing the initial share
            capital of Parmalat S.p.A. (unchanged); and

         -- 21,567,972 or 1.3% of the share capital that
            pertain to currently undisclosed creditors
            (compared with 21,904,437 shares as at
            Sept. 3, 2007).

                          About Parmalat

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

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


ADP COMPANY: Proof of Claim Deadline Slated for Nov. 9
------------------------------------------------------
LLP ADP Company Plus has declared insolvency.  Creditors have
until Nov. 9 to submit written proofs of claims to:

         LLP ADP Company Plus
         Kurmangazy Str. 178
         Almaty
         Kazakhstan


ASTAN PLUS: Creditors Must File Claims Nov. 14
----------------------------------------------
The Specialized Inter-Regional Economic Court of East Kazakhstan
has declared LLP Astan Plus insolvent.

Creditors have until Nov. 14 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of East Kazakhstan
         Chasnikov Str. 55
         Micro District 23
         Ust-Kamenogorsk
         East Kazakhstan
         Kazakhstan
         Tel: 8 (3232) 25-47-06


BANK TURANALEM: Wins Auction for 25% Stake in NJSIC Oranta
----------------------------------------------------------
Bank TuranAlem has won a 25% plus one share in NJSIC Oranta for
UAH500.75 million (US$99.2 million) in a tender hosted by Kiev,
Ukraine, on Oct. 2, 2007.

Major CIS financial groups had bid for the stake.  JSC Bank
TuranAlem, Kazakhstan, JSC Bank CenterCredit, Kazakhstan, and
Russia's OJSC Alfa Bank were among the bidders.  Alfa Bank
retired with an offer of US$98.2 million.

"Insurance is a core business of BTA not only in Kazakhstan,
where its subsidiary insurers dominate the market, but also
throughout the CIS, in particular in Ukraine.  The acquisition
of a 25% stake in Oranta is a landmark for us towards the
consolidation of BTA insurance assets with a view to make
governance of the major Ukrainian insurer more efficient,"
Mukhtar Ablyazov, chairman of the Board of Directors of BTA,
indicated.

"The bids were high, but we are ready to make investments in the
acquisition and development of the company.  Moreover, in the
future we will invest to the extent it is necessary to develop
the company and make it an ultimate leader on the insurance
market of Ukraine," Yerkin Tatishev, member of the Board of
Directors of BTA, said.

"The bid of Bank TuranAlem is high enough for any business, the
more so for the insurance market, however it is absolutely
justified givev Oranta development rates.  Premiums collected by
the Company for the first 9 months of 2007 soared by more than
60%.  We view the share purchase by Bank TuranAlem extremely
favorably as the deal confirms credibility of the investor's
mind as regards the further development of the Company," Oleg
Spilka, chairman of the management board of Oranta JSIC, said.

Valentyna Semeniuk, chair of the Ukrainian State Property Fund,
maintains that the price paid for Oranta JSIC stake is
unexampled.

"We thought we'd get 200 million-250 million hryvnya," Mrs.
Semeniuk stated.  "However, the bidder doubled the expected
price.  Beyond dispute, these are significant revenues to the
state budget of Ukraine.  This tender was fair and transparent."

Oranta JSIC is a major insurance company in Ukraine set up in
1921.  It has been a leader on the Ukrainian insurance market by
volume of premiums and payments to the state budget over several
decades.

Oranta runs a biggest agency network in Ukraine with more than
7,000 underwriting agents, 700 offices and over 1,000 outlets
throughout the country.  Oranta employs every third underwriting
agent in Ukraine.

Insurance payments made by Oranta over the first half of 2007
totaled 276 million hryvnia (US$54.6 million), the highest among
all insurers in Ukraine, meanwhile insurance claims totaled 92
million hryvnya (US$18.2 million).  The insurance fees of the
Company surged by more than 60% over the reference period.

Oranta was awarded Brand of the Year - 2004 in Ukraine, in 2005
it joined the Guard of Brands as the Biggest Insurance Company
of Ukraine and in 2006 Oranta was named the Choice of the Year.
Oranta JSCI appears in the TOP-100 authoritative companies of
Ukraine every year.

                      About Bank TuranAlem

Headquartered in Almaty, Kazakhstan, JSC Bank TuranAlem --
http://bta.kz/en/-- is among biggest banks and leader in
creation of banking network in CIS.  The Group's consolidated
assets soared from US$16.3 billion at the end of 2006 reaching
US$24 billion as of July 1, 2007, balance equity capital almost
doubled from US$1.53 billion to US$2.97 billion.

BTA operating in the CIS and far-abroad countries is expanding
into the CIS countries.  Activities of its strategic bank
partners cover Ukraine, 4 regions in Russia, Belarus, Georgia,
Armenia, Kyrgyzstan and Turkey.  BTA runs its representative
offices in Russia, Ukraine, China and the United Arab Emirates.

In Kazakhstan, BTA's network consists of 22 branches and 256
cash settlement units.

                            *   *   *

As reported in the TCR-Europe on June 26, 2007, Moody's
downgraded the debt ratings of Bank TuranAlem following the
implementation of Moody's refined JDA methodology on external
support.  All ratings now carry stable outlooks.

The affected ratings are:

   -- Foreign Currency Subordinate Debt Ratings downgraded to
      Ba1 from Baa2.

   -- Foreign Currency Junior Subordinate Debt Rating downgraded
      to Ba2 from Baa3.

   -- The D- Bank Financial Strength Rating is unchanged.

In TCR-Europe report on May 22, 2007, Fitch affirmed the ratings
of Kazakhstan's Bank TuranAlem -- BTA -- at foreign currency
Issuer Default 'BB+', Short-term foreign currency 'B', local
currency Issuer Default 'BBB-', Short-term local currency 'F3',
Support '3' and Individual C/D.  The Outlook on the foreign
currency Issuer Default rating is Positive while that on the
local currency IDR is Stable.

BTA also carries 'BB/B' long- and short-term counterparty credit
ratings from Standard & Poor's.  S&P said the outlook is
positive.


CROCUS TRAVEL: Claims Filing Period Ends Nov. 9
-----------------------------------------------
LLP Crocus Travel has declared insolvency.  Creditors have until
Nov. 9 to submit written proofs of claims to:

         LLP Crocus Travel
         Kurmangazy Str. 178
         Almaty
         Kazakhstan


KAZAKHSTAN ELECTRICITY: S&P Puts BB+ Ratings on Watch
-----------------------------------------------------
Standard & Poor's Ratings Services placed its ratings on
Kazakhstan government-related entities on CreditWatch with
negative implications, after the long-term rating on the
Republic of Kazakhstan (foreign currency BBB/Watch Neg/A-3;
local currency BBB+/Watch Neg/A-2; Kazakhstan national scale
'kzAAA') was placed on CreditWatch with negative implications.
The national scale rating was affirmed.

"The CreditWatch reflects potential negative implications for
these corporate credit ratings if the rating on the sovereign is
lowered," said Standard & Poor's credit analyst Elena Anankina.

All these corporate credit ratings incorporate some level of
likely extraordinary government support.  Still, no automatic
actions will follow the resolution of the CreditWatch on the
sovereign, which we expect by Oct. 9, 2007, in the case of a
negative rating action.  The national scale ratings could also
be lowered, in line with the global scale ratings, as we do not
expect any recalibration of the national scale.

S&P will then have to assess the impact of the rating action on
these GREs.  In particular we will evaluate the degree of state
support that should in future be incorporated into their
respective ratings, and analyze to what extent a potential
weakening of the sovereign's credit quality will affect the
government's ability and/or willingness to provide ongoing and
extraordinary timely financial support to these GREs.

"Finally, we will also consider whether the gradual trend toward
the government's more interventionist policy, as highlighted by
renegotiation of the large Kashagan oil project, should be
reflected by higher expectations of extraordinary government
support to the GREs and whether state intervention would
pressure the GREs' stand-alone credit quality," added
Ms. Anankina.

S&P intends to resolve the CreditWatch on the GREs within ninety
days.

                          Ratings List
                    To                    From
Kazakhstan Electricity Grid Operating Co. (JSC)

  Corporate credit rating
                    BB+/Watch Neg/--      BB+/Stable/--

NB: This list does not include all ratings affected.


KAZKOMMERTS INT'L: Moody's May Cut B1 Debt Rating After Review
--------------------------------------------------------------
Moody's Investors Service placed under review for possible
downgrade these ratings of Kazkommertsbank of Kazakhstan:

   -- D bank financial strength rating (BFSR);

   -- Baa2/P-2 global local currency deposit rating and senior
      unsecured debt foreign currency rating;

   -- Baa3 foreign currency-backed subordinated debt rating;
      and

   -- Ba1 foreign currency-backed junior subordinated debt
      rating.

Moody's has at the same time affirmed KKB's foreign currency
deposit ratings at Ba1/NP with a stable outlook.

This rating action primarily reflects Moody's concerns with
regard to KKB's rapid growth over the last few years, as well as
the suitability of the bank's business model in light of the
recent turbulence in the international capital markets.  Until
recently, KKB has been focused on very rapid lending expansion
financed to large extent by substantial borrowings from abroad.
Its total assets have increased by 363% over the thirty-month
period covering 2005-1H2007, while the bank's loan portfolio has
more than quadrupled during this period.  Furthermore, market
borrowings, mainly Eurobonds and syndicated bank loans,
comprised about 60% of KKB's total liabilities as at mid-2007.

In Moody's view, the recent market turbulence and consequent
liquidity crisis have substantially reduced KKB's capacity to
attract market funding, increasing its exposure to refinancing
risk and testing its business model.  Another negative rating
driver is the significant possibility of a material
deterioration of the bank's loan portfolio quality due to the
rapid growth in lending and the high concentration of
construction and real estate exposure (about 25% of gross loans
or 200% of equity at mid-2007).  Moodys' believes that some of
the bank's borrowers from this sector could be adversely
affected by the current credit crunch.

Moody's rating review will focus on the bank's ability to modify
its business model to the changing market conditions and the
external environment.  Particular attention will be paid to
KKB's liquidity position and its efforts to refinance cross-
border liabilities maturing in the next six months.  As part of
the review, Moody's will also closely monitor KKB's loan
portfolio quality.

The date of the previous rating action was June 22, 2007 when
these ratings of KKB were downgraded:

   -- senior unsecured debt in foreign currency to Baa2/P-2 from
      Baa1/P-2;

   -- foreign currency-backed subordinated debt to Baa3 from
      Baa2; and

   -- foreign currency-backed junior subordinated debt to Ba1
      from Baa3.

KKB's bank financial strength rating was confirmed at D, while
the outlook on the BFSR and on all debt ratings was changed to
negative.

Headquartered in Almaty, Kazakhstan, KKB reported consolidated
total assets of KZT3,043 billion (USD25.0 billion) and
shareholders' equity of KZT293 billion (USD2.4 billion) under
IFRS as of June 30, 2007.


MADANA-GOPALA LLP: Creditors' Claims Due on Nov. 14
---------------------------------------------------
The Specialized Inter-Regional Economic Court of East Kazakhstan
has declared LLP Madana-Gopala insolvent.

Creditors have until Nov. 14 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of East Kazakhstan
         Chasnikov Str. 55
         Micro District 23
         Ust-Kamenogorsk
         East Kazakhstan
         Kazakhstan
         Tel: 8 (3232) 25-47-06


NC KAZMUNAYGAS: S&P Watches Ratings Until Sovereign Review
----------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings on a
number of Kazakhstan government-related entities on CreditWatch
with negative implications, after the long-term rating on the
Republic of Kazakhstan (foreign currency BBB/Watch Neg/A-3;
local currency BBB+/Watch Neg/A-2; Kazakhstan national scale
'kzAAA') was placed on CreditWatch with negative implications.
The national scale rating was affirmed.  The entities subject to
CreditWatch are:

   -- 100% government owned oil holding JSC NC KazMunayGas
      (BBB-/Watch Neg/--; Kazakhstan national scale 'kzAA'),

   -- JSC KazMunaiGas Exploration Production (BB+/Watch Neg/--),

   -- KazTransOil (BB+/Watch Neg/--), and

   -- KazTransGas (BB/Watch Neg/--)

"The CreditWatch reflects potential negative implications for
these corporate credit ratings if the rating on the sovereign is
lowered," said Standard & Poor's credit analyst Elena Anankina.

All these corporate credit ratings incorporate some level of
likely extraordinary government support.  Still, no automatic
actions will follow the resolution of the CreditWatch on the
sovereign, which we expect by Oct. 9, 2007, in the case of a
negative rating action.  The national scale ratings could also
be lowered, in line with the global scale ratings, as we do not
expect any recalibration of the national scale.

S&P will then have to assess the impact of the rating action on
these GREs.  In particular we will evaluate the degree of state
support that should in future be incorporated into their
respective ratings, and analyze to what extent a potential
weakening of the sovereign's credit quality will affect the
government's ability and/or willingness to provide ongoing and
extraordinary timely financial support to these GREs.

S&P will also review whether any social or investment mandates
might be put on these GREs in a less benign environment, and to
what extent they are exposed to the country's financial system.
Several of the above entities–-including KEGOC and KazTransGas-–
are largely dependent on short-term funding, and any disruption
to the domestic financial system could therefore pressure their
liquidity in the context of global turbulence in corporate debt
markets.

"Finally, we will also consider whether the gradual trend toward
the government's more interventionist policy, as highlighted by
renegotiation of the large Kashagan oil project, should be
reflected by higher expectations of extraordinary government
support to the GREs and whether state intervention would
pressure the GREs' stand-alone credit quality," added Ms.
Anankina.

S&P intends to resolve the CreditWatch on the GREs within ninety
days.

                          Ratings List
                    To                    From

JSC NC KazMunayGas

  Corporate credit rating
                    BBB-/Watch Neg/--     BBB-/Stable/--

  Kazakhstan national scale rating
                    kzAA/Watch Neg        kzAA

  JSC KazMunaiGas Exploration Production

     Corporate credit rating
                    BB+/Watch Neg/--      BB+/Stable/--
  KazTransOil

     Corporate credit rating
                    BB+/Watch Neg/--      BB+/Positive/--
  KazTransGas

    Corporate credit rating
                    BB/Watch Neg/--       BB/Positive/--


NB: This list does not include all ratings affected.


RENKO SPA: Claims Registration Ends Nov. 9
------------------------------------------
Representation of Italian Joint Stock Company Renko Spa has
declared insolvency.  Creditors have until Nov. 9 to submit
written proofs of claims to:

         Representation of Italian
         Joint Stock Company Renko Spa
         Kaldayakov Str. 31b
         Almaty
         Kazakhstan


STA COMPANY: Proof of Claim Deadline Slated for Nov. 9
------------------------------------------------------
LLP Sta Company has declared insolvency.  Creditors have until
Nov. 9 to submit written proofs of claims to:

         LLP Sta Company
         Gagarin ave. 10-16
         Almaty
         Kazakhstan


TEMIR ZHOLY: S&P Watches Ratings Pending Sovereign Review
---------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings on a
number of Kazakhstan government-related entities on CreditWatch
with negative implications, after the long-term rating on the
Republic of Kazakhstan (foreign currency BBB/Watch Neg/A-3;
local currency BBB+/Watch Neg/A-2; Kazakhstan national scale
'kzAAA') was placed on CreditWatch with negative implications.
The national scale rating was affirmed. The entities subject to
CreditWatch are:

   -- National railway operator Kazakhstan Temir Zholy
      (BB+/Watch Neg/--; Kazakhstan national scale 'kzAA-') and
      its subsidiary JSC Kaztemirtrans (BB+/Watch Neg/--;
      Kazakhstan national scale 'kzAA-'); and

"The CreditWatch reflects potential negative implications for
these corporate credit ratings if the rating on the sovereign is
lowered," said Standard & Poor's credit analyst Elena Anankina.

All these corporate credit ratings incorporate some level of
likely extraordinary government support.  Still, no automatic
actions will follow the resolution of the CreditWatch on the
sovereign, which we expect by Oct. 9, 2007, in the case of a
negative rating action.  The national scale ratings could also
be lowered, in line with the global scale ratings, as we do not
expect any recalibration of the national scale.

S&P will then have to assess the impact of the rating action on
these GREs.  In particular we will evaluate the degree of state
support that should in future be incorporated into their
respective ratings, and analyze to what extent a potential
weakening of the sovereign's credit quality will affect the
government's ability and/or willingness to provide ongoing and
extraordinary timely financial support to these GREs.

"Finally, we will also consider whether the gradual trend toward
the government's more interventionist policy, as highlighted by
renegotiation of the large Kashagan oil project, should be
reflected by higher expectations of extraordinary government
support to the GREs and whether state intervention would
pressure the GREs' stand-alone credit quality," added Ms.
Anankina.

S&P intends to resolve the CreditWatch on the GREs within ninety
days.

                          Ratings List
                    To                    From

Kazakhstan Temir Zholy

  Corporate credit rating
                    BB+/Watch Neg/--      BB+/Stable/--

  Kazakhstan national scale
                    kzAA-/Watch Neg       kzAA-

  JSC Kaztemirtrans

    Corporate credit rating
                    BB+/Watch Neg/--      BB+/Stable/--

    Kazakhstan national scale
                    kzAA-/Watch Neg       kzAA-

NB: This list does not include all ratings affected.


UDS-2 LLP: Creditors Must File Claims Nov. 9
--------------------------------------------
The Tax Committee of Almaty region has ordered the compulsory
liquidation of LLP UDS-2.  Creditors have until Nov. 9 to submit
written proofs of claims to:
         The Tax Committee of Almaty
         Room 208
         Jangusurov Str. 113a
         Taldykorgan
         Almaty
         Kazakhstan
         Tel: 8 (3282) 24-19-77


UG-KVANT LLP: Claims Filing Period Ends Nov. 9
----------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan has declared LLP Ug-Kvant insolvent.

Creditors have until Nov. 9 to submit written proofs of claims
to:

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


UJTRANSSERVICE LLP: Creditors' Claims Due on Nov. 9
---------------------------------------------------
The Tax Committee of Almaty has ordered the compulsory
liquidation of LLP Ujtransservice.  Creditors have until Nov. 9
to submit written proofs of claims to:

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


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


BATKEN NEFT: Proof of Claim Deadline Slated for November 9
----------------------------------------------------------
LLC Batken Neft Service has declared insolvency.  Creditors have
until Nov. 9 to submit written proofs of claim to:

         Tolstoi Str. 17a-20
         Bishkek
         Kyrgyzstan


VORTEX LLC: Creditors Must File Claims by November 7
----------------------------------------------------
LLC Vortex has declared insolvency.  Creditors have until Nov. 7
to submit written proofs of claim.

Inquiries can be addressed to (+996 312) 75-78-40.


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


ARENA 2000-1: Fitch Rates Class D Notes at 'BB+'; Outlook Stable
----------------------------------------------------------------
Ratings has upgraded five and affirmed 29 tranches from the
Arena B.V. and DARTS Financing 2005-I B.V. transactions,
following a satisfactory review of the performance of these
deals.

The number of upgrades is reflective of the continued strong
performance of the Arena and DARTS transactions throughout 2007.
The more seasoned deals have experienced a healthy growth in
credit enhancement despite some slow down in principal payment
rates over recent quarters.

Delinquencies, defined as mortgage loans that are more than
three months in arrears, generally remain low in Dutch
transactions.  The transactions, originated by Delta Lloyd
Levensverzekering N.V. or Amstelhuys (the latter applying to
DARTS) and serviced by Stater Nederland B.V., display lower
levels of arrears compared to other Dutch transactions.
According to the latest investor reports, delinquencies ranged
from 0.05% to 0.37% of the outstanding portfolio balance.

Substitution is permitted in some of these deals, resulting in
lower payment rates and slower growth of credit enhancement than
seen in other Dutch RMBS transactions.  Substitution in the
other deals will occur only if the loan was the subject of a
further advance.

Outlooks have been revised following some changes to ratings,
largely reflecting future expected growth in credit enhancement
given that, in the Arena deals, once the class A1 notes are paid
in full, no further note payments are made for a prescribed
length of time.

The rating actions are:

Arena 2000-1 B.V.:

   -- Class A (ISIN XS0121144603): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0121144868): affirmed at 'A'; Outlook
      Stable

   -- Class C (ISIN XS0121145089): affirmed at 'BBB'; Outlook
      Stable

   -- Class D (ISIN XS0121145162): affirmed at 'BB+'; Outlook
      Stable

Arena 2001-1 B.V.:

   -- Class A2 (ISIN XS0132915355): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0132916080): affirmed at 'AAA'; Outlook
      Stable

   -- Class C (ISIN XS0132917724): affirmed at 'BBB+'; Outlook
      Positive

Arena 2002-1 B.V.:

   -- Class A2 (ISIN XS0150055647): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0150055720): upgraded to 'AAA' from 'AA+';
      Outlook revised to Stable from Positive

   -- Class C (ISIN XS0150056298): upgraded to 'A+' from 'A';
      Outlook revised to Stable from Positive

   -- Class A1 (ISIN XS0150055480): paid in full December 2006

Arena 2003-1 B.V.:

   -- Class A1 (ISIN XS0168489994): affirmed at 'AAA'; Outlook
      Stable

   -- Class A2 (ISIN XS0168491032): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0168491461): upgraded to 'AAA' from 'AA+';
      Outlook revised to Stable from Positive

   -- Class C (ISIN XS0168492279): affirmed at 'A-';
      Outlook Positive

Arena 2004-1 B.V.:

   -- Class A1 (ISIN XS0185555223): affirmed at 'AAA'; Outlook
      Stable

   -- Class A2 (ISIN XS0185559134): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0185559647): upgraded to 'AA+' from 'A+';
      Outlook Positive

   -- Class C (ISIN XS0185560579): upgraded to 'A-'from 'BBB+';
      Outlook revised to Stable from Positive

Arena 2004-II B.V.:

   -- Class A (ISIN XS0199708339): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0199708925): affirmed at 'AA'; Outlook
      Stable

   -- Class C (ISIN XS0199709576): affirmed at 'A'; Outlook
      Stable

   -- Class D (ISIN XS0199710236): affirmed at 'BBB'; Outlook
      Stable

Arena 2005-I B.V.:

   -- Class A (ISIN XS0213557555): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0213558108): affirmed at 'AA+'; Outlook
      Stable

   -- Class C (ISIN XS0213558520): affirmed at 'AA-' (AA minus);
      Outlook Stable

   -- Class D (ISIN XS0213559254): affirmed at 'A'; Outlook
      Stable

   -- Class E (ISIN XS0213561664): affirmed at 'BBB'; Outlook
      Stable

Arena 2006-I B.V.:

   -- Class A (ISIN XS0246672355): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0246673080): affirmed at 'AA'; Outlook
      Stable

   -- Class C (ISIN XS0246673833): affirmed at 'A'; Outlook
      Stable

   -- Class D (ISIN XS0246674997): affirmed at 'BBB'; Outlook
      Stable

   -- Class E (ISIN XS0246675531): affirmed at 'BBB-'; Outlook
      Stable

Darts Financing 2005-I B.V.:

   -- Class A (ISIN XS0233338135): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0233340545): affirmed at 'A'; Outlook
      Stable

Fitch has employed its credit cover multiple methodology in
reviewing the deals to assess the level of credit support
available to each class of notes.


BAUSCH & LOMB: Receives Tenders & Consents for Debt Securities
-------------------------------------------------------------
Bausch & Lomb Inc. has received tenders and consents
representing a majority of each of its outstanding 6.95% Senior
Notes due 2007, 5.90% Senior Notes due 2008, 6.56% Medium-Term
Notes due 2026 and 7.125% Debentures due 2028, all pursuant to
its previously announced cash tender offers and consent
solicitations for the Debt Securities.

As of 5:00 p.m., New York City time, on Oct. 3, 2007, the
Company had received tenders and consents in respect of these
principal amounts of Debt Securities:

   -- US$72,769,000 (or approximately 54.63% of the aggregate
      principal amount) of the 6.95% Senior Notes due 2007,

   -- US$49,250,000 (or approximately 98.50% of the aggregate
      principal amount) of the 5.90% Senior Notes due 2008,

   -- US$342,000 (or approximately 81.24% of the aggregate
      principal amount) of the 6.56% Medium-Term Notes due 2026,
      and

   -- US$53,638,000 (or approximately 80.74% of the aggregate
      principal amount) of the 7.125% Debentures due 2028.

As a result of the receipt of the requisite consents for each
series of Debt Securities, the Company expects to enter promptly
into a supplemental indenture incorporating the proposed
amendments, which eliminate or make less restrictive
substantially all of the restrictive covenants, as well as
certain events of default and related provisions in the
indentures governing the Debt Securities.  The supplemental
indenture will become operative upon acceptance and payment by
the Company of the tendered Debt Securities.

The Consent Payment Deadline with respect to the tender offers
and consent solicitations has now passed and withdrawal rights
have terminated.  Holders of Debt Securities who have not
already tendered their Debt Securities may do so at any time at
or prior to 8:00 a.m., New York City time, on Oct. 19, 2007,
unless extended or earlier terminated by the Company, but such
holders will only be eligible to receive the applicable tender
offer price, which is an amount equal to the applicable purchase
price less the applicable consent payment, for their Debt
Securities, or US$980 per US$1,000 principal amount of Debt
Securities tendered and accepted for payment.

In each case, holders whose Debt Securities are accepted for
payment in the tender offers will receive accrued and unpaid
interest in respect of such purchased Debt Securities to, but
not including, the applicable settlement date.

The tender offers and consent solicitations are being made
pursuant to the terms and conditions set forth in the Company's
Offer to Purchase and Consent Solicitation Statement for the
Debt Securities dated Sept. 19, 2007, and the related Letter of
Transmittal and Consent.  The tender offers and consent
solicitations are subject to the satisfaction of certain
conditions, including closing of the proposed merger between the
Company and an affiliate of Warburg Pincus LLC.  Further details
about the terms and conditions of the tender offers and consent
solicitations are set forth in the Offer to Purchase.

Citigroup Global Markets Inc., Banc of America Securities LLC,
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities
Inc. are acting as dealer managers for the tender offers and
consent solicitations. Questions regarding the transaction may
be directed to Citigroup Global Markets Inc. by telephone at
(800) 558-3745 (toll-free), Banc of America Securities LLC by
telephone at (888) 628-8536 (toll-free) for the Debt Securities
and (888) 583-8900 x2200 (toll-free) for the Convertible
Securities, Credit Suisse Securities (USA) LLC by telephone at
(212) 325-7596 (collect) or J.P. Morgan Securities Inc. by
telephone at (212) 270-1477 (collect).

Global Bondholder Services is the information agent for the
tender offers and consent solicitations.  Requests for
documentation should be directed to Global Bondholder Services
at (866) 540-1500 (toll-free).

                      About Bausch & Lomb

Headquartered in Rochester, New York, Bausch & Lomb Inc. (NYSE:
BOL) -- http://www.bausch.com/-- develops, manufactures, and
markets eye health products, including contact lenses, contact
lens care solutions, and ophthalmic surgical and pharmaceutical
products.  The company is organized into three geographic
segments: the Americas; Europe, Middle East, and Africa; and
Asia (including operations in India, Australia, China, Hong
Kong, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan
and  Thailand).  In Latin America, the company has operations in
Brazil and Mexico.  In Europe, the company maintains operations
in Austria, Germany, the Netherlands, Spain, and the United
Kingdom.

                          *     *     *

In May 2007, Moody's Investors Service stated that it will
continue its review of Bausch & Lomb Incorporated's ratings for
possible downgrade following the announcement that the company
has entered into a definitive merger agreement with affiliates
of Warburg Pincus.

Ratings subject to review for possible downgrade include the
company's Ba1 Corporate Family rating and Ba1 Probability of
Default rating.

In addition, the Warburg Pincus deal prompted Fitch to maintain
its Negative Rating Watch on the company.  Fitch also warned
that the transaction would significantly increase leverage and
likely result in a multiple-notch downgrade, including an Issuer
Default Rating of no higher than 'BB-'.


BAUSCH & LOMB: S&P Cuts Ratings to B+ on Merger Possibility
-----------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Bausch & Lomb Inc. to 'B+' from 'BB+' and removed all
the ratings from CreditWatch where they were placed on May 17,
2007, with negative implications.  The outlook is stable.  This
action reflects the expectation that Bausch & Lomb's merger with
Warburg Pincus, to be financed with US$1.9 billion of common
equity and US$3.2 billion of debt, will be consummated,
resulting in debt leverage of about 7x.

At the same time, Standard & Poor's assigned its bank loan and
recovery ratings to Rochester, N.Y.-based Bausch & Lomb's
proposed US$2.475 billion secured financing, comprising a
US$1.1 billion U.S. term loan, a US$300 million delayed draw
term loan, a US$500 million revolving credit facility, and a
euro-denominated Bausch & Lomb B.V. term loan in an amount about
equivalent to US$575 million.  The senior secured credit
facilities are rated 'BB-' (one notch above the corporate credit
rating on the company), with a recovery rating of '2',
indicating the expectation for substantial (70%-90%) recovery in
the event of a payment default.

S&P also assigned its 'B-' rating to the company's proposed
US$400 million senior unsecured notes, US$175 million senior
pay-in-kind toggle notes, and US$175 million senior subordinated
notes.

Outstanding debt ratings are affirmed.  Per the tender offer
underway, we expect that outstanding debt will be repaid with
the proceeds of the proposed debt financing.  At that time, the
ratings on the retired debt will be withdrawn.

"The rating on Bausch & Lomb reflects the strength of the
company's product offerings in multiple segments of the vision
care industry, recurring sales of several core products, and its
geographic and customer diversity," said Standard & Poor's
credit analyst Cheryl Richer.  "However, very high debt leverage
resulting from the acquisition drives the company's non-
investment grade rating."  Business concerns include formidable
competitors and the continuous pressure to innovate.  Lens care
sales are rebounding gradually in the aftermath of the May 2006
global recall of ReNu with MoistureLoc multipurpose lens care
solution.


KONINKLIJKE AHOLD: Settles Case Filed Against Former Executives
---------------------------------------------------------------
Koninklijke Ahold N.V. has entered into settlements with its
former CEO Cees Van der Hoeven and its former CFO Michiel Meurs.

The settlement with the former CEO Van der Hoeven comprises two
elements:

   -- Mr. Van der Hoeven will unconditionally waive all claims,
      which he has made in an arbitration proceeding against
      Ahold in an amount of more than EUR4.5 million; and

   -- Mr. Van der Hoeven will pay Ahold EUR5 million.

The settlement with the Mr. Meurs also comprises two elements:

   -- Mr. Meurs will unconditionally waive all claims that he
      has made against Ahold in an arbitration proceeding in an
      amount of more than EUR2 million; and

   -- Mr. Meurs will pay Ahold an amount of EUR600,000.

The arbitration proceedings referred to above will be
terminated.

The settlement has been agreed on the basis that neither Mr. Van
der Hoeven nor Mr. Meurs has admitted liability.

                          About Ahold

Headquartered in Amsterdam, Koninklijke Ahold N.V. (fka Royal
Ahold) -- http://www.ahold.com/-- retails food through
supermarkets, hypermarkets and discount stores in North and
South America, Europe.  It has operations in Argentina.  The
company's chain stores include Stop & Shop, Giant, TOPS, Albert
Heijn and Bompreco.  Ahold also supplies food to restaurants,
hotels, healthcare institutions, government facilities,
universities, stadiums, and caterers.

                            *   *   *

In a TCR-Europe report on May 11, 2007, Moody's Investors
Service placed the Ba1 Corporate Family Rating and the Ba1
Senior Unsecured Long-Term Rating of Koninklijke Ahold N.V. on
review for possible upgrade.

The action follows the company's announcement that it has
agreed to the disposal of its U.S. Foodservice business to
private equity funds for US$7.1 billion.

As reported in the TCR-Europe on May 7, 2007, Fitch Ratings
upgraded the Issuer Default and senior unsecured ratings of
Royal Ahold N.V. (nka Koninklijke Ahold N.V.) to 'BB+' from
'BB'.  The Outlook on the Issuer Default rating remains
Positive.  Its Short-term rating is affirmed at 'B'.


STICHTING MEMPHIS 2005-I: Fitch Affirms Class F Notes at BB
-----------------------------------------------------------
Fitch Ratings has upgraded four and affirmed 20 tranches from
the Stichting Memphis 2003-I, Stichting Memphis 2005-I,
Stichting Memphis 2006-I and Stichting Eleven Cities No. 1 and 2
transactions, following a satisfactory review of the performance
of these deals.

The number of upgrades is reflective of the continued strong
performance of the Stichting Memphis and Stichting Eleven Cities
transactions throughout 2007.

The Stichting Memphis transactions, originated by Postbank N.V.
and serviced by ING Bank N.V. are partially funded synthetic
securitizations of Dutch residential mortgages, meaning that the
issuer has entered into a credit default swap, hedging the
assumed economic risk by issuing credit-linked notes.  Proceeds
from the issuance of these notes are used as collateral to cover
any losses that might occur.

The Stichting Eleven Cities transactions, originated by
Friesland Bank N.V., both have a guaranteed investment account
where cash accumulates once the most senior notes have been
redeemed in full.  The cash is then used to pay down the next
class of notes according to the redemption schedule of the
specific transactions.

Delinquencies, defined as mortgage loans that are more than
three months in arrears, generally remain low in Dutch
transactions.  All of the transactions reviewed display low
levels of arrears and according to the latest investor reports,
delinquencies ranged from 0.17% to 0.44% of the outstanding
portfolio balance.

Three of the transactions permit a quarterly substitution of
mortgage loans until the termination of the transaction,
resulting in lower payment rates and slower growth of credit
enhancement than seen in other Dutch RMBS transactions.  As
envisaged by the transaction structure, the replenishment of the
Stichting Eleven Cities No. 2 ended in October 2006 and since
then the prepayment rates have increased.

According to the structure of the Stichting Memphis 2003-I
transaction, as of January 2008 any proceeds that remain
following the execution of the predefined payments will be used
for the redemption of the class D notes.  Fitch has incorporated
this into its analysis, and has found that the credit
enhancement of class C notes would be affected.

Following some changes to ratings, Fitch has revised some
Outlooks, largely reflecting future expected growth in credit
enhancement.  The rating actions are:

Stichting Memphis 2003-I

   -- Senior swap affirmed at 'AAA', Outlook Stable

   -- Class A (ISIN XS0182283944): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0182284322): upgraded to 'AA+' from 'AA-';
      Outlook Positive

   -- Class C (ISIN XS0182284751): affirmed at 'BBB+'; Outlook
      Positive

   -- Class D (ISIN XS0182285212): upgraded to 'BBB+' from
      'BBB-'; Outlook Positive

Stichting Memphis 2005-I.:

   -- Class A (ISIN XS0215132969): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0215134585): affirmed at 'AA'; Outlook
      Stable

   -- Class C (ISIN XS0215137174): affirmed at 'A'; Outlook
      Stable

   -- Class D (ISIN XS0215139204): affirmed at 'BBB+'; Outlook
      Stable

   -- Class E (ISIN XS0215139972): affirmed at 'BBB-'; Outlook
      Stable

   -- Class F (ISIN XS0215141101): affirmed at 'BB'; Outlook
      Stable

Stichting Memphis 2006-I

   -- Class A (ISIN XS0240658632): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0240658988): affirmed at 'AA'; Outlook
      Stable

   -- Class C (ISIN XS0240659283): affirmed at 'A+'; Outlook
      Stable

   -- Class D (ISIN XS0240659796): affirmed at 'A'; Outlook
      Stable

   -- Class E (ISIN XS0240660299): affirmed at 'BBB'; Outlook
      Stable

   -- Class F (ISIN XS0240660372): affirmed at 'BB'; Outlook
      Stable

   -- Class G (ISIN XS0240660455): affirmed at 'B'; Outlook
      Stable

Stichting Eleven Cities No. 1

   -- Class A (ISIN XS0151880142): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0151887584): upgraded to 'AAA' from 'AA';
      Outlook Stable

   -- Class C (ISIN XS0151890372): upgraded to 'A' from 'A-';
      Outlook Stable

Stichting Eleven Cities No. 2

   -- Class A (ISIN XS0178720107): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0178720362): affirmed at 'A'; Outlook
      Positive

   -- Class C (ISIN XS0178720446): affirmed at 'BBB'; Outlook
      Positive

Rating Outlooks for European Structured Finance tranches provide
forward-looking information to the market. An Outlook indicates
the likely direction of any rating change over a one- to two-
year period.

Fitch has employed its credit cover multiple methodology in
reviewing the deals to assess the level of credit support
available to each class of notes.


STICHTING MEMPHIS 2006-I: Fitch Affirms Class G Notes at B
----------------------------------------------------------
Fitch Ratings has upgraded four and affirmed 20 tranches from
the Stichting Memphis 2003-I, Stichting Memphis 2005-I,
Stichting Memphis 2006-I and Stichting Eleven Cities No. 1 and 2
transactions, following a satisfactory review of the performance
of these deals.

The number of upgrades is reflective of the continued strong
performance of the Stichting Memphis and Stichting Eleven Cities
transactions throughout 2007.

The Stichting Memphis transactions, originated by Postbank N.V.
and serviced by ING Bank N.V. are partially funded synthetic
securitizations of Dutch residential mortgages, meaning that the
issuer has entered into a credit default swap, hedging the
assumed economic risk by issuing credit-linked notes.  Proceeds
from the issuance of these notes are used as collateral to cover
any losses that might occur.

The Stichting Eleven Cities transactions, originated by
Friesland Bank N.V., both have a guaranteed investment account
where cash accumulates once the most senior notes have been
redeemed in full.  The cash is then used to pay down the next
class of notes according to the redemption schedule of the
specific transactions.

Delinquencies, defined as mortgage loans that are more than
three months in arrears, generally remain low in Dutch
transactions.  All of the transactions reviewed display low
levels of arrears and according to the latest investor reports,
delinquencies ranged from 0.17% to 0.44% of the outstanding
portfolio balance.

Three of the transactions permit a quarterly substitution of
mortgage loans until the termination of the transaction,
resulting in lower payment rates and slower growth of credit
enhancement than seen in other Dutch RMBS transactions.  As
envisaged by the transaction structure, the replenishment of the
Stichting Eleven Cities No. 2 ended in October 2006 and since
then the prepayment rates have increased.

According to the structure of the Stichting Memphis 2003-I
transaction, as of January 2008 any proceeds that remain
following the execution of the predefined payments will be used
for the redemption of the class D notes.  Fitch has incorporated
this into its analysis, and has found that the credit
enhancement of class C notes would be affected.

Following some changes to ratings, Fitch has revised some
Outlooks, largely reflecting future expected growth in credit
enhancement.  The rating actions are:

Stichting Memphis 2003-I

   -- Senior swap affirmed at 'AAA', Outlook Stable

   -- Class A (ISIN XS0182283944): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0182284322): upgraded to 'AA+' from 'AA-';
      Outlook Positive

   -- Class C (ISIN XS0182284751): affirmed at 'BBB+'; Outlook
      Positive

   -- Class D (ISIN XS0182285212): upgraded to 'BBB+' from
      'BBB-'; Outlook Positive

Stichting Memphis 2005-I

   -- Class A (ISIN XS0215132969): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0215134585): affirmed at 'AA'; Outlook
      Stable

   -- Class C (ISIN XS0215137174): affirmed at 'A'; Outlook
      Stable

   -- Class D (ISIN XS0215139204): affirmed at 'BBB+'; Outlook
      Stable

   -- Class E (ISIN XS0215139972): affirmed at 'BBB-'; Outlook
      Stable

   -- Class F (ISIN XS0215141101): affirmed at 'BB'; Outlook
      Stable

Stichting Memphis 2006-I

   -- Class A (ISIN XS0240658632): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0240658988): affirmed at 'AA'; Outlook
      Stable

   -- Class C (ISIN XS0240659283): affirmed at 'A+'; Outlook
      Stable

   -- Class D (ISIN XS0240659796): affirmed at 'A'; Outlook
      Stable

   -- Class E (ISIN XS0240660299): affirmed at 'BBB'; Outlook
      Stable

   -- Class F (ISIN XS0240660372): affirmed at 'BB'; Outlook
      Stable

   -- Class G (ISIN XS0240660455): affirmed at 'B'; Outlook
      Stable

Stichting Eleven Cities No. 1

   -- Class A (ISIN XS0151880142): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0151887584): upgraded to 'AAA' from 'AA';
      Outlook Stable

   -- Class C (ISIN XS0151890372): upgraded to 'A' from 'A-';
      Outlook Stable

Stichting Eleven Cities No. 2

   -- Class A (ISIN XS0178720107): affirmed at 'AAA'; Outlook
      Stable

   -- Class B (ISIN XS0178720362): affirmed at 'A'; Outlook
      Positive

   -- Class C (ISIN XS0178720446): affirmed at 'BBB'; Outlook
      Positive

Rating Outlooks for European Structured Finance tranches provide
forward-looking information to the market. An Outlook indicates
the likely direction of any rating change over a one- to two-
year period.

Fitch has employed its credit cover multiple methodology in
reviewing the deals to assess the level of credit support
available to each class of notes.


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


PRA INTERNATIONAL: S&P Assigns B Corporate Credit Rating
--------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to pharmaceutical contract research organization
PRA International Inc.  The outlook is stable.

At the same time, Standard & Poor's Ratings Services assigned
its bank loan and recovery ratings to PRA's secured financing.
The company's proposed first-out credit facilities are rated
'BB-', with a recovery rating of '1', indicating the
expectations for very high (90%-100%) recovery in the event of
a payment default.  PRA is the borrower for the first-out credit
facilities, consisting of a US$30 million revolving credit
facility and a US$55 million term loan.  Pharmaceutical Research
Associates Group BV is the borrower for the other first-out
credit facilities, consisting of a US$10 million euro-
denominated revolving credit facility, a US$60 million euro-
denominated term loan, and a US$55 million term loan.

S&P also assigned its 'CCC+' bank loan rating to the company's
US$85 million last-out term loan, for which PRA is the borrower.
The recovery rating of '6' indicates the expectation for
negligible (0%-10%) recovery in the event of a payment default.

At the same time, S&P assigned its 'CCC+' rating to PRA's
US$170 million senior subordinated notes.

The proceeds of the term loans and notes are being used in
conjunction with approximately US$390 million of common equity
to finance the buyout of the company by sponsor Genstar Capital
LLC.  The buyout values the company at about US$750 million,
which represents a multiple of about 13x pro forma adjusted
EBITDA from the past 12 months.

"The rating reflects PRA's highly leveraged capital structure,
risks related to its continuing turnaround efforts, a somewhat
concentrated customer base, and the potential for earnings
volatility," said Standard & Poor's credit analyst Alain
Pelanne.  "These factors are offset partially by PRA's
recently improving results, its global footprint and therapeutic
expertise, and trends that support strong growth for the
industry."

Headquartered in Reston, Virginia, PRA International --
http://www.praintl.com/-- is a global contract research
organization that assists pharmaceutical and biotechnology
companies in developing drug compounds, biologics, and drug
delivery devices and gaining necessary regulatory approvals.
Clinical trials and related services are conducted from offices
located all over the world including Argentina, Australia,
Belgium, Poland, India, Taiwan, among others.

The company generated gross revenues of approximately US$382
million (including US$43 million of reimbursed expenses) for the
twelve months ended June 30, 2007.


BEARINGPOINT INC: Bags US$57.9-Mil. Deal for IT Support Services
----------------------------------------------------------------
BearingPoint Inc. has been awarded a contract to provide
business transformation, Navy Marine Corps Intranet (NMCI), and
IT support services for the U.S. Navy's Naval Network Warfare
Command.  The contract is for one year with four annual options,
and has an award ceiling of US$57.9 million.

BearingPoint will assist NETWARCOM in meeting their mission to
deliver and operate a reliable, secure and battle-ready global
network to United States Fleet Forces.  BearingPoint's scope of
work under the contract will include development of broad
business transformation strategies, as well as a variety of IT
and consulting services including:

   -- Transitioning users from legacy networks to NMCI
   -- Supporting the reduction of legacy applications
   -- Developing account and file-share processes and policies
   -- Hardware and software technical refresh support
   -- Consultation on CIO-level initiatives including

Information Assurance, portfolio management through Cyber Asset
Reduction and Security tasks, and Next Generation Enterprise
Network strategies NMCI serves as the Department of the Navy's
connection to the Global Information Grid and provides a secure,
integrated means to conduct Network Centric Operations
throughout the Navy.

The move to shift all personnel to NMCI and eliminate costly,
less secure legacy IT systems is a high priority for Navy
leadership.

BearingPoint has provided support to the NETWARCOM's NMCI
program office since its inception in 1999, designing many of
the current NMCI processes and tools, including the Reliability
and Availability Prediction tool used for NMCI ordering.
BearingPoint has also been a major player in other Navy IT
efforts such as the Functional Area Manager process, server
consolidation IT and IT asset discovery.

"BearingPoint is pleased to continue its support of the Navy and
its mission," said Beth Smith, senior vice president of
BearingPoint's Navy sector and leader of its DoD Business
Systems practice.  "The move to newer, integrated IT systems is
designed to help reduce costs and provide better security.
NETWARCOM's efforts have an immediate positive effect on the
Navy."

BearingPoint's team of subcontractors for this effort will
include CACI, Lockheed Martin, Target Systems, and TKC
Technology Solutions.

                     About BearingPoint

Headquartered in McLean, Virginia, BearingPoint Inc., (NYSE:
BE) -- http://www.BearingPoint.com/-- provides of management
and technology consulting services to Global 2000 companies and
government organizations in 60 countries worldwide.  The firm
has approximately 17,500 employees, and major practice areas
focusing on the Public Services, Financial Services and
Commercial Services markets.

BearingPoint has global locations including in Indonesia,
Australia, Austria, China, India, Japan, Mexico, Portugal,
Singapore and Thailand.

The company reported total assets of US$1.9 billion, total
liabilities of US$2.1 billion, and total stockholders deficit of
US$177.3 million as of Dec. 31, 2006.


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


BAKSANSKIJ LLC: Creditors Must File Claims by Nov. 22
-----------------------------------------------------
Creditors of Integrated Process Plant Baksanskij LLC have until
Nov. 22 to submit proofs of claim to:

         Integrated Process Plant Baksanskij LLC
         Beslaneeva 13
         Baksan
         361500 Kabardino-Balkarian
         Russia
         Taxpayer ID 0701009361

The Arbitration court of the Kabardino-Balkarian appointed
Karyakin Yu. I. as Competitive Proceedings Manager for the
company.  The Court will convene at 3:00 p.m. on Sept. 5, 2008
to hear the company's competitive proceedings.  The case is
docketed under Case No. A20-4244/2006.

The Debtor can be reached at:

         Integrated Process Plant Baksanskij LLC
         Beslaneeva 13
         Baksan
         361500 Kabardino-Balkarian
         Russia
         Taxpayer ID 0701009361


CHELNO-VERSHINSKIJ: Creditors Must File Claims by Nov. 22
---------------------------------------------------------
Creditors of Chelno-Vershinskij Integrated Plant of Construction
Materials LLC have until Nov. 22 to submit proofs of claim to:

         Rakhmaninova str. 1
         440066 Penza
         Russia

The Arbitration court of the Samara appointed Bychkova L. N. as
Competitive proceedings manager for the company.  The Court
commenced competitive proceedings against the company after
finding it insolvent.  The case is docketed under Case No.
A55-1951/2007-13.

The Debtor can be reached at:

         Chelno-Vershinskij Integrated Plant of Construction
         Materials LLC
         Eshteben'kino Village
         Chelno-Vershinskij raion
         Samara
         Russia


EAST-URAL-OIL CJSC: Creditors Must File Claims by Nov. 22
---------------------------------------------------------
Creditors of East-Ural-Oil CJSC have until Nov. 22 to submit
proofs of claim to:

         Sviridov V. V.
         Competitive Proceedings Manager
         Office 407
         Partizanskaya str. 19
         443070 Samara
         Russia

The Arbitration court of the Orenburg commenced one-year
competitive proceedings on the company.  The case is docketed
under Case No. A-47-5195/2005-14ГК.

The Court is located at:

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

The Debtor can be reached at:

         East-Ural-Oil CJSC
         Zelenaya 2
         Prigorodnyj village
         Orenburg raion
         460507 Orenburg
         Russia
         Taxpayer ID 5610052739


HEATING SYSTEM: Creditors Must File Claims by Oct. 22
-----------------------------------------------------
Creditors of Municipal Unitary Enterprise Heating System have
until Oct. 22 to submit proofs of claim.

The Arbitration court of Altai krai appointed Zaeva N. N. as
Interim Manager for the company.  The Court will convene on
Feb. 6, 2008, to hear the company's bankruptcy supervision
procedure.  The case is docketed under Case No. А03-5268/07-Б.

The Debtor can be reached at:

         Municipal Unitary Enterprise Heating System
         Volodarskogo Str. 120
         Slavgorod
         658820 Altai krai
         Russia


KRYLOVSKIJ FEED PLANT OJSC: Bidding Deadline Slated for Oct. 19
---------------------------------------------------------------
Dolgov V.I., Competitive proceedings manager of Krylovskij Feed
Plant OJSC, will open a public auction for the company's
properties at 11:00 a.m. on Oct. 22 at:

         Kol'tsevaya Str. 1
         St. Novosergievskaya
         Krylovskij raion
         Krasnodar krai
         Russia
         Tel: 8-918-396-60-02

The company's properties are:

   -- Lot#1 - Operating feed plant with foreign process
      equipment, daily feed output of 220 tons; mechanized brick
      granary with the capacity of 6.5 thousand tons; 2
      brick-built storehouses for grain and feed with the
      capacity of 2.5 thousand tons; 2 asphalted sheds of
      metal structures, 1 100 sq.m.  Weighing equipment in
      operation, 30 tons capacity; office; spare tools.
      The starting price is RUR3,161,213.75.

   -- Lot#2 - 45% finished elevator with the capacity of 50
      thousand tons.  The starting price is RUR1,403,000.

Interested participants have until Oct. 19 to deposit an amount
equivalent to 20% of the starting price to:

         Krylovskij Feed Plant OJSC
         Settlement Account 40702810330130106191
         Correspondent Account 30101810600000000602
         Taxpayer ID 2338000413
         KPP 233801001
         PSRN 1022304104712
         Pavlovsk SberBank branch 1813
         Russia

Bidding documents must be submitted to:

         Per. Khleborobnyi, 21
         St. Vyselki
         353100 Krasnodar krai
         Russia
         Tel: 8-918-39-66-002


MDM BANK: IFC Completes US$184 Million Stake Acquisition
--------------------------------------------------------
International Finance Corporate has completed acquisition of a
5% stake in MDM Bank through the purchase of an additional share
issue for US$184 million.

For MDM Bank this transaction marks another important step
toward implementing the Bank’s strategy to become Russia’s
leading privately-owned bank.  As a strategic investor, IFC
provides access to global banking expertise and best practices,
which MDM Bank will use to further improve operational
efficiency and quality of services, as well as to continue to
enhance its market-leading transparency and corporate
governance.

"We welcome the arrival of IFC as a shareholder," Michel
Perhirin, Chairman of MDM Bank’s Management Board, said.  "IFC
will contribute to implementing and refining the Bank’s
development strategy, and our partnership with IFC has already
produced results: we have successfully implemented several joint
projects related to SMEs and mortgage lending, energy efficiency
investments and trade finance.

"We are confident that with the help of IFC, MDM Bank will
achieve excellent results and provide even better service to our
clients.  MDM Bank has set an ambitious goal for itself -– to be
the leading privately-held bank in Russia -– and we are pleased
that IFC has come on board to help us achieve this."

"We look forward to working with the bank and to supporting its
development strategy," Edward Nassim, IFC’s Vice President for
Africa, Europe and Middle East, noted.  "MDM Bank has
significant potential and we believe that this investment will
contribute in setting best business standards in the Russian
financial markets."

                            About MDM

Headquartered in Moscow, Russia, OJSC MDM Bank --
http://www.mdmbank.com/-- provides financial services organized
across four divisions: corporate banking, retail banking, and
investment banking.  The bank owns and operates 100 offices
throughout Russia.

                            *   *   *

As reported in the TCR-Europe on Sept. 24, 2007, Fitch Ratings
has upgraded Russia-based MDM Bank's Long-term Issuer Default
rating to 'BB' from 'BB-' and its National Long-term rating to
'AA-(rus)' from 'A+(rus)'.  Fitch has also affirmed MDM's other
ratings at Short-term IDR 'B', Individual 'C/D', Support '4' and
Support Rating Floor 'B'.  The Outlooks for both Long-term
ratings are Stable.

As of Aug. 1, 2007, MDM carries a Ba1 Long-Term Bank Deposit and
Senior Unsecured Debt ratings from Moody's Investor Service.
The company also carries Ba2 Subordinated Debt and D+ Bank
Financial Strength ratings.  Moody's said the outlook is stable.

MDM carries BB Long-Term Issuer Credit and B Short-Term Issuer
Credit ratings from Standard & Poor's.  S&P said the outlook is
stable.


ROSSIYSKIY KREDIT: Moody's Assigns Caa1/NP/E/Ba2.ru Ratings
-----------------------------------------------------------
Moody's Investors Service assigned these global scale ratings to
Bank Rossiyskiy Kredit:

   -- Bank financial strength rating of E; and

   -- Long-term and short-term local and foreign currency
      deposit ratings of Caa1/Not Prime.

Concurrently, Moody's Interfax Rating Agency assigned a long-
term national scale rating of Ba2.ru to BRK.  Moscow-based
Moody's Interfax is majority-owned by Moody's, a leading global
rating agency.  The outlook on the global scale ratings is
stable, while the national scale rating carries no specific
outlook.

According to Moody's and Moody's Interfax, the Caa1/Not Prime/E
global scale ratings reflect global default and loss
expectation, while the Ba2.ru national scale rating reflects the
standing of the bank's credit quality relative to its domestic
peers.

BRK's E BFSR takes account of the bank's steady and consistent
growth in 2005-2006, but is constrained by:

   (i) Its extremely small franchise and lack of clearly
       identifiable competitive advantages;

  (ii) Relatively short track record of operations since the
       bank became insolvent in 1998 and was subject to
       restructuring process;

(iii) The bank's significant proprietary trading activities and
       considerable exposure to market risks;

  (iv) Highly concentrated loan portfolio;

   (v) The large portion of related-party transactions, both in
       the loan portfolio and customer accounts;

  (vi) The low diversification of the bank's client and funding
       base.

Given the bank's extremely limited franchise value and low
importance for the Russian banking system as a whole, BRK's
global local currency deposit ratings of Caa1/Not Prime do not
incorporate any element of systemic support.  Nor does the
bank's affiliation with Unicor Group result in Moody's
assessment of any probability of parental support from Unicor
Group to BRK.  These ratings are therefore at the same level as
BRK's baseline credit assessment of Caa1, which is mapped from
its E BFSR under Moody's methodology.

BRK was established in 1991 and had been rapidly developing as a
universal financial institution and growing to become one of the
largest Russian banks by the mid-1990s.  However, as a result of
the 1998 Russian economic crisis, the bank became insolvent and
subsequently, through the mediation of ARCO (State Agency for
Restructuring of Credit Organizations), entered into a
restructuring process with its creditors.  Under the terms of
the restructuring agreement signed in 2000, the majority of the
bank's liabilities were either exchanged for discount promissory
notes with maturities ranging from 2004 to 2020 or settled.  To
date the bank's liabilities due upon the restructuring agreement
have been partly settled with outstanding promissory notes
reported at the end of 2006 at a fair value of approx.  US$111
million (33% of total liabilities) payable in 2007-2020.

Since 2004 BRK has been resuming its normal banking activities,
although its target market positioning has shifted from
universal to investment banking.  Moody's sees the major
challenge for the bank in this process as overcoming market
perceptions following its damaged credit history.

Headquartered in Moscow, Russian Federation, Bank Rossiyskiy
Kredit reported at Dec. 31, 2006, IFRS total consolidated assets
of US$1.25 billion (2005: US$676 million), total capital of
US$916 million (2005: US$472 million) and net IFRS income of
US$99 million for the year ended at that date (2005: US$64
million).


RZHAKSAAGROPROMSNAB OJSC: Creditors Must File Claims by Oct. 22
---------------------------------------------------------------
Creditors of Rzhaksaagropromsnab OJSC have until Oct. 22 to
submit proofs of claim to:

         Office 2
         Leningradskaya str. 2a
         Rasskazovo
         Tambov

The Arbitration court of the Tambov appointed Gorbunov K. A. as
Interim Manager for the company.  The Court will convene at
10:30 a.m. on Nov. 20 to hear the bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
А64-3202/07-10.

The Debtor can be reached at:

         Rzhaksaagropromsnab OJSC
         Agricultural Equipment Territory Str. 1
         Rzhaksa settlement
         Tambov
         Russia
         KPP 681601001
         Taxpayer ID 6816000711


USEC INC: Inks Pact with Lenders to Sell 20 Million Shares
----------------------------------------------------------
USEC Inc. entered on Sept. 24, 2007, into an Underwriting
Agreement with Goldman Sachs & Co. and Merrill, Lynch, Pierce,
Fenner & Smith Incorporated, as representatives of the
underwriters to the Common Stock Underwriting Agreement for the
issuance and sale by the company of 20 million shares of the
company's common stock, par value US$0.10 per share.

The shares are being sold to the underwriters at a price of
US$9.76 per share, less an underwriting discount of US$0.4392
per share.  The company also granted the common stock
underwriters an option to purchase up to an additional 3 million
shares of the company's common stock, which option was exercised
by the common stock underwriters in full on Sept. 26, 2007.

The company expects net proceeds from the sale of the shares of
about US$213.8 million, including net proceeds as a result of
the exercise by the common stock underwriters of their option.

On Sept. 24, 2007, the company also entered into an Underwriting
Agreement with Goldman, Sachs & Co. and Wachovia Capital Markets
LLC, as representatives of the underwriters for the issuance and
sale by the company of US$500 million aggregate principal amount
of the company's 3% convertible senior notes due 2014, pursuant
to the registration statement.  The notes are being sold to the
underwriters at a price of US$1,000 per note, less an
underwriting discount of 2.25% per note.

The company also granted the notes underwriters an option to
purchase up to an additional US$75 million aggregate principal
amount of notes, which option was exercised by the notes
underwriters in full on Sept. 26, 2007.

The company expects net proceeds from the sale of the notes of
about US$560.7 million, including net proceeds as a result of
the exercise by the notes underwriters of their option.

                         Indenture

The notes are being issued pursuant to an indenture dated
Sept. 28, 2007, between the company and Wells Fargo Bank N.A.
The notes will bear interest at a rate of 3% per annum. Interest
on the Notes is payable semi-annually in arrears on April 1 and
October 1 of each year, beginning on April 1, 2008. The notes
will mature on Oct. 1, 2014.

The notes will be senior unsecured obligations of the company
and will rank equally with all of the company's existing and
future senior unsecured debt and senior to all of the company's
subordinated debt.

The notes will be structurally subordinated to all existing and
future liabilities of the company's subsidiaries and will be
effectively subordinated to the company's existing and future
secured indebtedness to the extent of the value of the
collateral.

Holders may convert their notes at their option on any day prior
to the close of business on the scheduled trading day
immediately preceding Aug. 1, 2014, only under these
circumstances:

   1. during the five business day period after any five
      consecutive trading day period in which the price per
      note for each trading day of that measurement period was
      less than 98% of the product of the last reported sale
      price of the company's common stock and the conversion
      rate on each such day;

   2. during any calendar quarter after the calendar quarter
      ending Sept. 30, 2007, if the last reported sale price of
      the company's common stock for 20 or more trading days in
      a period of 30 consecutive trading days ending on the
      last trading day of the immediately preceding calendar
      quarter exceeds 120% of the conversion price in effect on
      the last trading day of the immediately preceding
      calendar quarter; or

   3. upon the occurrence of specified corporate events.

The notes will be convertible, regardless of the foregoing
circumstances, at any time from, Aug. 1, 2014, through the
scheduled trading day immediately preceding the maturity date of
the notes.

Upon conversion, for each US$1,000 in principal amount
outstanding, the company will deliver a number of shares of the
company's common stock equal to the conversion rate.

The initial conversion rate for the notes is 83.6400 shares of
common stock per US$1,000 in principal amount of notes,
equivalent to an initial conversion price of about US$11.956 per
share of common stock.  The conversion rate will be subject to
adjustment in some events but will not be adjusted for accrued
interest.

In addition, if a make-whole fundamental change occurs prior to
the maturity date of the notes, the company will in some cases
increase the conversion rate for a holder that elects to convert
its Notes in connection with such make-whole fundamental change.

Subject to certain exceptions, holders may require the company
to repurchase for cash all or part of their notes upon a
fundamental change at a price equal to 100% of the principal
amount of the notes being repurchased plus any accrued and
unpaid interest up to, the relevant repurchase date.  The
company may not redeem the notes prior to maturity.

                       About USEC Inc.

Headquartered in Bethesda, Maryland, USEC Inc. (NYSE: USU) --
http://www.usec.com/-- is a 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.

                      *     *     *

As reported in the Troubled Company Reporter on Sep. 28, 2007,
Standard & Poor's Ratings Services assigned its 'CCC' senior
unsecured rating to USEC Inc.'s US$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.


VERHOVSKIJ CONCENTRATED: Bidding Deadline Slated for October 22
---------------------------------------------------------------
Competitive proceedings manger of Verhovskij Concentrated Milk
Plant OJSC, will open a public auction for the company's
properties at 11:00 a.m. on Nov. 2 at:

         Lenina str. 1
         Verhov'e Settlement
         303720 Oryol
         Russia

The company's properties are:

   -- Lot#1 - Butter-making plant, butter-making plant workshop,
              boiler, equipment, other.  The starting price is
              RUR2,664,443.6.

   -- Lot#2 - Spare parts for cars and and agricultural
              machinery.  The starting price is RUR1,002,349.09.

Interested participants have until Oct. 22 to deposit an amount
equivalent to 20% of the starting price to:

         Verhovskij Concentrated Milk Plant OJSC
         Settlement Account 40702810400001876000
         Correspondent Account 30101810300000000161
         Taxpayer ID 5705000143
         KPP 570501001
         CB Loko Bank CJSC
         Moscow
         Russia

Bidding documents must be submitted to:

         Lenina Str. 1
         Verhov'e Settlement
         303720 Oryol
         Russia


VORONEZHSKIJ OJSC: Court Starts External Bankruptcy Procedure
-------------------------------------------------------------
The Arbitration court of the Voronezh commenced external
management bankruptcy procedure for a period of 18 months on
Experimental Mechanical Plant Voronezhskij OJSC.  The case is
docketed under Case No. А14-460/2007/5/16б.

The External Insolvency Manager is:

         Korobkin N. N.
         POB 15
         394005 Voronezh-5
         Russia

The Court is located at:

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

The Debtor can be reached at:

         Experimental Mechanical Plant Voronezhskij OJSC
         121th Strelkovoy Division Str. 9
         394055 Voronezh
         Russia
         Taxpayer ID 5263002110


YOUR HOUSE LLC: Creditors Must File Claims by Oct. 22
-----------------------------------------------------
Creditors of Lipetsk Construction Corporation Your House LLC
have until Oct. 22 to submit proofs of claim to:

         Chepurnov A. A.
         Interim Manager
         9th May str. 14a
         398017 Lipetsk
         Russia

The Arbitration court of the Lipetsk commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. А36-2179/2007.

The Court is located at:

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

The Debtor can be reached at:

         Lipetsk Construction Corporation Your House LLC
         Mechanizatoros Str. 15
         398024 Lipetsk
         Russia


ZARYA OJSC: Bidding Deadline Slated for October 24
--------------------------------------------------
Specialized Auction Center LLC, Competitive manager of Zarya
OJSC, will open a public auction for the company's properties at
9:00 a.m. on Oct. 29 at:

         Office 414A
         October pr. 259A
         Lyubertsy
         140000 Moscow
         Russia

The company's properties are:

   -- Lot#1 - Building 30, Building 32, Additional building
      attached to building 47, Building 77a, Building 63
      – central laboratory, Plane-milling machine,
      Vessel.  The starting price is RUR7,471,288.

Interested participants have until Oct. 24 to deposit an amount
equivalent to 20% of the starting price to:

         Zarya OJSC
         Settlement Account 40702810000000072300
         Correspondent Account 30101810100000000338
         Taxpayer ID 7724590607
         KPP code 772401001
         LLC CB Smolensky Bank
         Moscow
         Russia

Bidding documents must be submitted to:

         Office 414A
         October pr. 259A
         Lyubertsy
         140000 Moscow
         Russia


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


GENERAL CABLE: Amends Credit Agreement to Issue Additional Notes
----------------------------------------------------------------
General Cable Corporation and its subsidiary, General Cable
Industries Inc. entered on Sept. 21, 2007, into a Third
Amendment to its Second Amended and Restated Credit Agreement,
dated as of as of Nov. 23, 2005, to permit the issuance of an
additional US$475,000,000 of convertible notes.

The credit agreement was entered among Industries, as borrower,
the company and the other guarantors, Merrill Lynch Capital, a
division of Merrill Lynch Business Financial Services Inc., as
administrative agent, collateral agent and joint lead arranger,
National City Business Credit Inc., as syndication agent, Bank
of America N.A., as documentation agent, UBS Securities LLC, as
joint lead arranger, and the lenders thereto.

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.  The company has
locations in China, Australia, France, Brazil, the Dominican
Republic and Spain.

                      *     *     *

As reported in the Troubled Company Reporter on Sept. 19, 2007,
Standard & Poor's Ratings Services affirmed its 'BB-' corporate
credit rating on General Cable Corp.  The outlook is stable.


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


AVNET INC: Inks US$600 Five-Year Senior Unsec. Credit Facility
--------------------------------------------------------------
Avnet Inc. entered into a five-year senior unsecured credit
facility.  The facility provides for extensions of credits in
the aggregate amount of up to US$500 million with a US$100
million accordion feature allowing Avnet to increase its
borrowing capacity to up to US$600 million, subject to obtaining
commitments for the incremental capacity from existing or new
lenders.

The term of the facility expires on Sept. 26, 2012, which may be
extended at Avnet's election for up to two additional one-year
terms, subject to Avnet's satisfaction of certain conditions.
The facility effectively supersedes Avnet's existing credit
facility dated as of Oct. 13, 2005.

Bank of America N.A. will act as administrative agent, swing
line lender and letter of credit issuer; Banc of America
Securities LLC acted as joint lead arranger and sole book
manager; ABN AMRO Incorporated acted as Joint Lead Arranger, and
Credit Suisse First Boston, the Bank of Nova Scotia and BNP
Paribas acted as co-documentation agents.  A total of 18 lenders
participated in the facility.

"We appreciate the continued commitment from our long-term
banking partners and are pleased to welcome new lenders into our
bank group," Raymond Sadowski, Avnet's chief financial officer,
stated.  "The facility not only offers better terms and
conditions than the facility it supersedes but also extends
those terms an additional two years.  There was significant
demand for participation in the facility and this strong
sponsorship demonstrates confidence by the financial community
in Avnet's future and its solid financial condition."

                       About Avnet Inc

Headquartered in Phoenix, Arizona, Avnet Inc. (NYSE:AVT)
-- http://www.avnet.com/-- is an industrial distributor of
electronic components, enterprise computer and storage products
and embedded subsystems.  Avnet distributes electronic
components, computer products and software as received from its
suppliers or with assembly or other value added by Avnet.  Avnet
provides engineering design, materials management and logistics
services, system integration and configuration, and supply chain
advisory services.  Avnet has two primary operating groups:
Electronics Marketing and Technology Solutions.  Both operating
groups have operations in the Americas, Europe, the Middle East
and Africa, and Asia/Pacific, consisting of Australia, Belgium,
China, Germany, Hong Kong, India, Indonesia, Italy, Japan,
Malaysia, New Zealand, Philippines, Singapore, Sweden, Brazil,
Mexico and Puerto Rico.

                       *     *     *

Moody's Investors Service affirmed Avnet's Ba1 corporate family
long-term debt ratings in March 2007.  The outlook is positive.


FLEXTRONICS INT'L: Agent Discloses Final Results of Exchange
------------------------------------------------------------
Computershare Shareholders Services Inc., the exchange agent for
the transaction, reported final results for the elections made
by Solectron Corporation stockholders regarding the form
of merger consideration they will receive in the merger with
Flextronics International Ltd.  Computershare has calculated
that of the 918,438,865 shares of Solectron common stock
outstanding as of the effective time of the merger:

   -- 725,108,506 of the outstanding Solectron shares have
      submitted valid elections to receive Flextronics
      ordinary shares;

   -- 81,440,695 of the outstanding Solectron shares have
      submitted valid elections to receive cash; and

   -- 111,889,664 of the outstanding Solectron shares did not
      submit valid elections.

Pursuant to the terms of the merger agreement, Solectron
stockholders were entitled to elect to receive either 0.3450 of
a Flextronics ordinary share or US$3.89 in cash for each share
of Solectron common stock, subject to proration due to minimum
and maximum limits on the amount of stock consideration and cash
consideration.  The election deadline expired at 5:00 p.m., EDT,
on Sept. 27, 2007.

Based on the election results and the terms of the merger
agreement:

   -- Solectron stockholders who elected to receive stock
      consideration will receive Flextronics ordinary shares
      with respect to approximately 88.66% of their Solectron
      shares and cash with respect to approximately 11.34% of
      their Solectron shares;

   -- Solectron stockholders who elected to receive cash
      consideration will receive cash with respect to all of
      their Solectron shares; and

   -- Solectron stockholders that failed to submit a valid
      election will receive cash with respect to all of their
      Solectron shares.

Flextronics will pay approximately US$1.07 billion in cash and
issue approximately 221.8 million Flextronics ordinary shares
pursuant to the merger.  No fractional Flextronics ordinary
shares will be issued.  Instead, each Solectron stockholder that
would otherwise be entitled to receive Flextronics fractional
shares will receive an amount in cash based on
US$11.42 per Flextronics ordinary share, the average of the per
share closing prices of Flextronics ordinary shares reported on
the NASDAQ Global Select Market during the five consecutive
trading days ending on the trading day immediately preceding the
closing date of the merger.

Solectron stockholders with questions regarding individual
allocation results should contact Innisfree M&A Incorporated
toll free from within the United States and Canada at 877-825-
8971.

                 About Solectron Corporation

Based in Milpitas, California, Solectron Corporation (NYSE: SLR)
-- http://www.solectron.com/-- provides complete product
lifecycle services.  The company offers collaborative design and
new product introduction, supply chain management, lean
manufacturing and aftermarket services such as product warranty
repair and end-of-life support to customers worldwide.  The
company works with the providers of networking, computing,
telecommunications, storage, consumer, automotive, industrial,
medical, self-service automation and aerospace and defense
products.  The company's Lean Six Sigma methodology provides
OEMs with quality, flexibility, innovation and cost benefits
that improve competitive advantage.  Solectron operates in more
than 20 countries on five continents.

                About Flextronics International

Headquartered in Singapore, Flextronics International Ltd.
(NasdaqGS: FLEX) -- http://www.flextronics.com/-- is an
Electronics Manufacturing Services provider focused on
delivering design, engineering and manufacturing services to
automotive, computing, consumer digital, industrial,
infrastructure, medical and mobile OEMs.  Flextronics helps
customers design, build, ship, and service electronics products
through a network of facilities in over 30 countries on four
continents including Brazil, Mexico, Hungary, Sweden, United
Kingdom, among others.

                          *     *     *

As reported in yesterday's Troubled Company Reporter, Fitch
Ratings has completed its review of Flextronics International
Ltd. following the company's acquisition of Solectron Corp. and
resolved Flextronics' Rating Watch Negative status by affirming
these ratings: Issuer Default Rating at 'BB+'; and Senior
unsecured credit facility at 'BB+'.

Fitch also rated Flextronics' new senior unsecured Term B loan
at 'BB+'.  Additionally, Fitch has downgraded the rating on
Flextronics' senior subordinated notes from 'BB' to 'BB-'.  The
Rating Outlook is Negative.

At the same time, Moody's Investors Service confirmed the
ratings of Flextronics International Ltd. with a negative
outlook and assigned a Ba1 rating to the company's new US$1.75
billion delayed draw unsecured term loan in response to the
closing of the Solectron acquisition.

The initial draw on the term loan (US$1.1 billion) will finance
the cash portion of the merger consideration.


FLEXTRONICS INT'L: Solectron Global to Redeem 8% Senior Notes
-------------------------------------------------------------
Flextronics International Ltd. has announced that, in connection
with ITS previously-announced acquisition of Solectron
Corporation on Oct. 1, 2007, Solectron Global Finance Ltd.
notified holders of its outstanding 8.00% Senior Subordinated
Notes due 2016 (8% Notes) that it is exercising its right to
redeem the 8% Notes prior to maturity pursuant to the optional
redemption procedures provided for under the indenture governing
the 8% Notes.  The 8% Notes will be redeemed at 100% of the
principal amount of the 8% Notes, plus (i) accrued and unpaid
interest to, but not including, the date of redemption, and (ii)
the make-whole premium provided for under the indenture.  The
redemption date will be Oct. 31, 2007.  Separately, Solectron
Global Finance Ltd. has notified holders of the 8% Notes that it
will repurchase any 8% Notes delivered for repurchase pursuant
to a change of control offer to repurchase at a price of 101% of
their aggregate principal amount, plus accrued and unpaid
interest to the date of repurchase.  Solectron Global Finance
Ltd. will repurchase all 8% Notes tendered pursuant to this
offer on Oct. 31, 2007.  Any 8% Notes that are not repurchased
pursuant to the repurchase offer will be redeemed on
Oct. 31, 2007.

U.S. Bank National Association is acting as the paying agent for
the repurchase offer for the 8% Notes and the redemption agent
for the redemption.

As a result of Flextronics's acquisition of Solectron,
Flextronics intends to deliver notice on Oct. 31, 2007 of a
change in control purchase offer for all of Solectron's
outstanding 0.50% Convertible Senior Notes due 2034 and
Solectron's 0.50% Convertible Senior Notes Series B due 2034 in
accordance with the procedures set forth in the indentures
governing the Convertible Notes.  It is expected that any
Convertible Notes tendered pursuant to these change of control
purchase offers will be repurchased on or about Dec. 14, 2007.
All Convertible Notes tendered will be repurchased at a price
equal to 100% of their outstanding principal amount, plus
accrued and unpaid interest to, but excluding, the date of
repurchase.

                About Flextronics International

Headquartered in Singapore, Flextronics International Ltd.
(NasdaqGS: FLEX) -- http://www.flextronics.com/-- is an
Electronics Manufacturing Services provider focused on
delivering design, engineering and manufacturing services to
automotive, computing, consumer digital, industrial,
infrastructure, medical and mobile OEMs.  Flextronics helps
customers design, build, ship, and service electronics products
through a network of facilities in over 30 countries on four
continents including Brazil, Mexico, Hungary, Sweden, United
Kingdom, among others.

                        *     *     *

As previously reported in the Troubled Company Reporter, Fitch
Ratings has completed its review of Flextronics International
Ltd. following the company's acquisition of Solectron Corp. and
resolved Flextronics' Rating Watch Negative status by affirming
these ratings: Issuer Default Rating at 'BB+'; and Senior
unsecured credit facility at 'BB+'.

Fitch also rated Flextronics' new senior unsecured Term B loan
at 'BB+'.  Additionally, Fitch has downgraded the rating on
Flextronics' senior subordinated notes from 'BB' to 'BB-'.  The
Rating Outlook is Negative.

At the same time, Moody's Investors Service confirmed the
ratings of Flextronics International Ltd. with a negative
outlook and assigned a Ba1 rating to the company's new US$1.75
billion delayed draw unsecured term loan in response to the
closing of the Solectron acquisition.

The initial draw on the term loan (US$1.1 billion) will finance
the cash portion of the merger consideration.


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


ARIESCH JSC: Graubunden Court Closes Bankruptcy Proceedings
-----------------------------------------------------------
The Bankruptcy Service of Prattigau/Davos in Graubunden entered
Sept. 7 an order closing the bankruptcy proceedings of JSC
Ariesch.

The Bankruptcy Service of Prattigau/Davos can be reached at:

         Bankruptcy Service of Prattigau/Davos
         7270 Davos Platz
         Prattigau/Davos GR
         Switzerland

The Debtor can be reached at:

         JSC Ariesch
         7240 Kublis
         Prattigau/Davos GR
         Switzerland


DR. RIGHTMANN: Creditors' Liquidation Claims Due October 15
-----------------------------------------------------------
Creditors of JSC Dr. Richtmann + Eder Swiss have until Oct. 15
to submit their claims to:

         Paul von Deschwanden
         Liquidator
         Ebnetstrasse 49
         6043 Adligenswil LU
         Switzerland

The Debtor can be reached at:

         JSC Dr. Richtmann + Eder Swiss
         Aarau AG
         Switzerland


ENGELER JSC: Creditors' Liquidation Claims Due October 15
---------------------------------------------------------
Creditors of JSC ENGELER have until Oct. 15 to submit their
claims to:

         Beat Degrandi
         Liquidator
         Beat Degrandi Treuhan
         Zugerstrasse 15
         6330 Cham ZG
         Switzerland

The Debtor can be reached at:

         JSC ENGELER
         Hunenberg ZG
         Switzerland


FROHSINN LLC: Zug Court Closes Bankruptcy Proceedings
-----------------------------------------------------
The Bankruptcy Service of Zug entered Sept. 7 an order closing
the bankruptcy proceedings of LLC Frohsinn.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6301 Zug
         Switzerland

The Debtor can be reached at:

         LLC Frohsinn
         St.-Oswalds-Gasse 1
         6300 Zug
         Switzerland


KSC SEMINARHOTEL: Creditors' Liquidation Claims Due October 15
--------------------------------------------------------------
Creditors of JSC KSC Seminarhotel have until Oct. 15 to submit
their claims to:

         Rene Schwager
         Liquidator
         Oberried 110
         3433 Schwanden im Emmental
         Switzerland

The Debtor can be reached at:

         JSC KSC Seminarhotel
         Basel BS
         Switzerland


PETROPLUS SCHIFFFAHRT: Creditors' Liquidation Claims Due Oct. 12
----------------------------------------------------------------
Creditors of JSC Petroplus Schifffahrt have until Oct. 12 to
submit their claims to:

         Dr. Willi Dietschi
         Liquidator
         Reber Rechtsanwalte
         Dufourstrasse 43
         Mail box:  926
         8034 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Petroplus Schifffahrt
         Zug
         Switzerland


ROLAN PFAFFIKON: Creditors' Liquidation Claims Due October 15
-------------------------------------------------------------
Creditors of JSC Rolan Pfaffikon have until Oct. 15 to submit
their claims to:

         Schmid Heinzen Humbert
         Liquidator
         Meisenweg 9
         8038 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Rolan Pfaffikon
         Freienbach
         Hofe SZ
         Switzerland


SCHRIFTART LLC: Bern Court Starts Bankruptcy Proceedings
--------------------------------------------------------
The Bankruptcy Court of Bern commenced bankruptcy proceedings
against LLC Schriftart on Aug. 22.

The Bankruptcy Service of Bern can be reached at:

         Bankruptcy Service of Bern
         Office Konolfingen
         3082 Schlosswil
         Konolfingen BE
         Switzerland

The Debtor can be reached at:

         LLC Schriftart
         Thunstrasse 25
         3113 Rubigen
         Konolfingen BE
         Switzerland


SIOPLAST MANAGEMENT: Zug Court Starts Bankruptcy Proceedings
------------------------------------------------------------
The Bankruptcy Court of Zug commenced bankruptcy proceedings
against JSC Sioplast Management on July 3.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC Sioplast Management
         Seeblick 1
         6330 Cham ZG
         Switzerland


SOCIETE IMMOBILIERE: Creditors' Liquidation Claims Due Oct. 15
--------------------------------------------------------------
Creditors of JSC Societe Immobiliere Polara have until Oct. 15
to submit their claims to:

         Pierre Wurgler
         Liquidator
         JSC Staiger, Schwald & Partner
         Eva Schweizer
         Genferstrasse 24
         Mail box: 2012
         8027 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Societe Immobiliere Polara
         Muri bei Bern BE
         Switzerland


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


BULGANAKSKY STONE-WORKING: Creditors Must File Claims by Oct. 9
---------------------------------------------------------------
Creditors of LLC Bulganaksky Stone-Working Plant (code EDRPOU
22268105) have until Oct. 9 to submit written proofs of claim
to:

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

The Economic Court of AR Krym commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 2-4/11744-2006.

The Debtor can be reached at:

         LLC Bulganaksky Stone-Working Plant
         Bondarenkovo
         Lenino
         98300 AR
         Krym Ukraine


FIRST NATIONAL: Proofs of Claim Deadline Set October 9
------------------------------------------------------
Creditors of CJSC First National Soap Company (code EDRPOU
31731657) have until Oct. 9 to submit written proofs of claim
to:

         Sergey Zozulia
         Temporary Insolvency Manager
         Shevchenko Boulevard 250
         Cherkassy
         Ukraine

The Economic Court of Kiev commenced the bankruptcy supervision
procedure on the company on Aug. 3.  The case is docketed under
Case No. 23/307-b.

The Court is located at:

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

The Debtor can be reached at:

         CJSC First National Soap Company
         Starokievskaya Str. 14
         03055 Kiev
         Ukraine


KHARTRON-ALFA LLC: Creditors Must File Claims by October 9
----------------------------------------------------------
Creditors of LLC Science-Production Enterprise Khartron-Alfa
(code EDRPOU 23182730) have until Oct. 9 to submit written
proofs of claims to:

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

The Economic Court of Kharkov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. B-31/141-07.

The Debtor can be reached at:

         LLC Science-Production Enterprise Khartron-Alfa
         Ac. Proskura Str. 1
         Kharkov
         Ukraine


LIGA-D OJSC: Proofs of Claim Deadline Set October 9
---------------------------------------------------
Creditors of OJSC Liga-D (code EDRPOU 25653909) have until
Oct. 9 to submit written proofs of claim to:

         The Economic Court of Ivano-Frankovsk
         Shevchenko Str. 16a
         76000 Ivano-Frankovsk
         Ukraine

The Economic Court of Ivano-Frankovsk commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. B-21/131.

The Debtor can be reached at:

         OJSC Liga-D
         Galitsky District
         Shkolnaya Str. 2
         Demianov
         77131 Ivano-Frankovsk
         Ukraine


LISICHANSK COAL: Creditors Must File Claims by October 9
--------------------------------------------------------
Creditors of Lisichansk Coal (code EDRPOU 05515743) have until
Oct. 9 to submit written proofs of claim to:

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

The Economic Court of Lugansk commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 12/119b.

The Debtor can be reached at:

         Lisichansk Coal
         Malinovsky Str. 1
         Lisichansk
         93100 Lugansk
         Ukraine


PEASANT ENERGY: Creditors Must File Claims by October 9
-------------------------------------------------------
Creditors of Agricultural LLC Peasant Energy have until Oct. 9
to submit written proofs of claim to:

         The Economic Court of Hmelnitskij
         Nezalezhnosti Square 1
         29000 Hmelnitskih
         Ukraine

The Economic Court of Hmelnitskij commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. 3/229-B.

The Debtor can be reached at:

         Agricultural LLC Peasant Energy
         Kotovsky Str. 9
         Volochisk
         Hmelnitskij
         Ukraine


SHULIAKI-AGRO LLC: Creditors Must File Claims by October 9
----------------------------------------------------------
Creditors of LLC Agricultural Enterprise Shuliaki-Agro (code
EDRPOU 32745695) have until Oct. 9 to submit written proofs of
claim to:

         Terentiy Davidiuk
         Zhashkov, Chapaev avenue, 51
         19200 Cherkassy
         Ukraine

The Economic Court of Cherkassy commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 10/3908.

The Debtor can be reached at:

         LLC Agricultural Enterprise Shuliaki-Agro
         Vatutin Str. 19
         Shuliaki
         Zhashkov District
         19242 Cherkassy
         Ukraine


SUGAR-INVEST LLC: Creditors Must File Claims by October 9
---------------------------------------------------------
Creditors of LLC Sugar-Invest (code EDRPOU 34158521) have until
Oct. 9 to submit written proofs of claim to:

         The Economic Court of Ivano-Frankovsk
         Shevchenko Str. 16a
         76000 Ivano-Frankovsk
         Ukraine

The Economic Court of Ivano-Frankovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. 5-21/189.

The Debtor can be reached at:

         LLC Sugar-Invest
         Shashkevich Str. 6
         Rogatin
         Ivano-Frankovsk
         Ukraine


TCHUBUKI LLC: Proofs of Claim Deadline Set October 9
----------------------------------------------------
Creditors of LLC Tchubuki (code EDRPOU 24882074) have until
Oct. 9 to submit written proofs of claim to:

         Sergey Egorenkov
         Temporary Insolvency Manager
         L. Ukrainka Boulevard 19
         01133 Kiev
         Ukraine

The Economic Court of Kiev commenced the bankruptcy supervision
procedure on the company.  The case is docketed under Case
No. 416/14b-06/11.

The Court is located at:

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

The Debtor can be reached at:

         LLC Tchubuki
         Stovpiagi
         Pereyaslav-Hmelnitsky District
         08403 Kiev
         Ukraine


VISHNIAKI LLC: Creditors Must File Claims by October 9
------------------------------------------------------
Creditors of LLC Agricultural and Industrial Firm Vishniaki
(code EDRPOU 20470363) have until Oct. 9 to submit written
proofs of claim to:

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

The Economic Court of Zaporozhje commenced bankruptcy
proceedings against the company after finding it insolvent.
The case is docketed under Case No. 16/196/07.

The Debtor can be reached at:

         LLC Agricultural and Industrial Firm Vishniaki
         Vishniaki
         Vilniansky District
         Zaporozhje
         Ukraine


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


ALLIANCE BOOTS: Highly Leveraged Capital Cues S&P’s B- Ratings
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term
corporate credit and senior unsecured debt ratings on U.K.-based
health-and-beauty retailer and wholesaler Alliance Boots Ltd. to
'B-' from 'BB-'.  The ratings were removed from CreditWatch,
where they were placed with negative implications on March 12,
2007, following a takeover bid.  The outlook is negative.

At the same time, Standard & Poor's withdrew all its ratings on
Alliance Boots.

"The downgrade reflects the highly leveraged capital structure
of the enlarged group as a result of the debt-financed takeover
by Kohlberg Kravis Roberts & Co., a private-equity firm, and
Stefano Pessina, the executive deputy chairman of Alliance
Boots," said Standard & Poor's credit analyst Marketa Horkova.

This has led to our estimate of fully adjusted debt to EBITDA of
approximately 10x, and EBITDA interest coverage of about 1.3x.

The ratings withdrawal reflects the fact that the company, as a
private company, will not provide the information on its
financial and operational results and prospects which we view as
necessary to be able to continue to do surveillance on the
ratings.

The negative outlook reflects the highly leveraged financial
position of the company and, in our view, the likelihood of no
substantial deleveraging in the near term.


ARVINMERITOR INC: Moody's Cuts Corporate Family Rating to B1
------------------------------------------------------------
Moody's Investors Service downgraded ArvinMeritor's Corporate
Family Rating to B1 from Ba3 and maintained the outlook at
stable.

Moody's also lowered its ratings on the company's secured bank
obligations (to Ba1, LGD-1, 8% from Baa3, LGD-2, 13%) and
unsecured notes (to B2, LGD-4, 63% from B1, LGD-4, 63%).  The
Probability of Default is changed to B1 from Ba3, while the
company's Speculative Grade Liquidity rating remains SGL-2.  The
outlook is stable.  These rating actions follow the announcement
by the company on October 3, that its earnings per share for
fiscal 2007 will be meaningfully lower than anticipated.  ARM's
current expectation is for full-year EPS to be approximately
US$0.40 lower than its July 2007 expectation of US$0.75 -
US$0.80.  This downward revision is the result of severe adverse
developments in the company's fourth quarter ending September
30th.  These developments include: lower than anticipated class
8 truck volumes in North America, operational disruptions
related to attempts to meet significantly higher than expected
demand in Europe, receivable write-downs resulting from supplier
reorganizations, and weakness in the commercial vehicle
aftermarket and trailer markets.  Despite considerable progress
that ARM has made in reducing aggregate indebtedness and
strengthening its cost structure since 2006, the significant
erosion in the fourth quarter's operating environment will
likely result in the company's credit metrics remaining more
consistent with the B1 rating level through 2008.

"As a result of the fourth quarter falloff, ARM's credit metrics
will be very weak for fiscal 2007," Bruce Clark, senior vice
president with Moody's said.  "Although these metrics should
begin to recover somewhat due to operational initiatives being
undertaken and due to a possible rebound in the class 8 truck
market during the latter half of 2008, the magnitude and timing
of any improvement in metrics is uncertain.  Fortunately, the
company has a reasonable degree of liquidity as it contends with
these difficulties," Bruce further noted.

The stable outlook recognizes Moody's expectation that ARM's
operating performance and credit metrics will begin to recover
following the very weak fourth quarter, and that the company's
liquidity position will remain sound as the company attempts to
transition through the current cyclical trough in the commercial
vehicle industry.

The SGL-2 Speculative Grade Liquidity rating represents good
liquidity over the next twelve months.  Moody's notes that the
company finished the end of the third quarter of fiscal 2007
with US$284 million of consolidated cash on the balance sheet.
External sources of liquidity include availability under its
US$900 million revolving credit facility with varying levels of
cushion under its financial covenants over the coming twelve
months.  The current liquidity rating also reflects the recent
short term credit line covenant relief granted to ARM. Moody's
does acknowledge financing actions the company had taken in 2006
to improve the company's liquidity profile including lengthening
the company's debt maturity schedule and room under covenants
which have been beneficial during the industry downturn.

Ratings lowered:

   * ArvinMeritor, Inc.

   -- Corporate Family Rating to B1 from Ba3;

   -- Senior Secured bank debt to Ba1, LGD-1, 8% from Baa3,
      LGD-2, 13%;

   -- Senior Unsecured notes to B2, LGD-4, 63% from B1,
      LGD-4, 63%;

   -- Probability of Default to B1 from Ba3;

   -- Shelf unsecured notes to (P)B2, LGD-4, 63% from (P)B1,
      LGD-4, 63%.

   * Arvin International PLC

   -- Unsecured notes guaranteed by ArvinMeritor, Inc. to B2,
      LGD-4, 63% from B1, LGD-4, 64%.

Ratings affirmed:

   * ArvinMeritor, Inc.

   -- Speculative Grade Liquidity rating, SGL-2.

The last rating action was in February 2007 at which time
Moody's upgraded ArvinMeritor's bank debt to Baa3 and affirmed
the company's Corporate Family Rating of Ba3, Speculative Grade
Liquidity rating of SGL-2, and stable outlook.

The B1 Corporate Family rating reflects solid scores under the
Auto Supplier Methodology for the company's scale, market
position and diversification spread across two business
segments.  Nonetheless, key credit metrics of EBITA margin,
Debt/EBITDA and interest coverage constrain these qualitative
strengths and pull the overall rating into the B category.
Although a downturn in North American commercial vehicle
production volumes was anticipated in 2007, the degree of the
negative effect on the company's metrics has been meaningfully
larger than anticipated.

The Ba1 ratings on the bank obligations, three notches above the
Corporate Family Rating, flow from their perfected liens on
substantial assets at the borrower and guaranteeing subsidiaries
as well as a significant level of junior capital beneath their
claims.  Similarly, the B2 rating on the unsecured notes, one
level below the Corporate Family Rating, reflects their lower
priority as well as the benefits of up-streamed guarantees from
material domestic subsidiaries.

Headquartered in Troy, Michigan, ArvinMeritor, Inc. (NYSE: ARM)
-- http://www.arvinmeritor.com/-- supplies integrated systems,
modules and components to the motor vehicle industry.  The
company serves light vehicle, commercial truck, trailer and
specialty original equipment manufacturers and certain
aftermarkets.  Revenues in fiscal 2006 were approximately US$9.2
billion.

ArvinMeritor employs about 29,000 people at more
than 120 manufacturing facilities in 25 countries.  These
countries are: China, India, Japan, Singapore, Thailand,
Australia, Venezuela, Brazil, Argentina, Belgium, Czech
Republic, France, Germany, Hungary, Italy, Netherlands, Spain,
Sweden, Switzerland, United Kingdom, among others.


BRITISH AIRWAYS: Traffic Figures Down 0.7% in September 2007
------------------------------------------------------------
British Airways plc reported traffic and capacity statistics for
September 2007.

In September 2007, passenger capacity, measured in Available
Seat-Kilometers, was 0.3% above September 2006.  Traffic,
measured in Revenue-Passenger-Kilometers, fell by 0.7%.  This
resulted in a passenger load factor down 0.8 points versus last
year, to 78.3%.  The decrease in traffic comprised a 6.6%
increase in premium traffic and a 2% reduction in non-premium
traffic.

Cargo, measured in Cargo-Ton-Kilometers, fell by 0.4%.

For the first half of the financial year, ASKs rose by 0.5%,
with RPKs down 0.7%.  This resulted in passenger load factor
down 0.9 points to 78.4%.  Premium traffic rose 2.5 %with non-
premium traffic falling by 1.3%.  Cargo-Ton-Kilometers fell by
1.5%.

                        Market Conditions

Market conditions are broadly unchanged.  The outlook for
longhaul premium travel continues to be encouraging.

                      Strategic Developments

British Airways ordered 12 Airbus A380 and 24 Boeing 787
aircraft with options for a further seven Airbus A380s and 18
Boeing 787s.  Both aircraft types will be powered by Rolls-Royce
engines.

The aircraft will be greener, quieter and more fuel efficient
with significantly lower carbon dioxide emissions and reduced
impact on local air quality.

The new aircraft will replace 34 of the airline's long-haul
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.

Terminal 5 was formally handed over to British Airways and this
signaled the start of an intensive six month period of
operational readiness trials ahead of its opening on March 27,
2008.  The trials include familiarization programs for staff and
over 70 separate proving trials.  These activities will run in
parallel to the final completions work that includes fit-out,
systems integration and finishing works.

The British Airways summer 2008 route network from March next
year includes daily flights to Dallas Fort Worth and double
daily flights to Houston from Heathrow airport.  Frequencies
from Heathrow to New York JFK increase from 51 to 55, to Seattle
from 10 to 13 and to Washington up from 21 to 24 flights per
week.  Flights from Gatwick to Orlando also increase from 7 to
10 flights per week.  Harare services will be re-routed via
Johannesburg with the airline's franchise Comair and services to
Detroit will be suspended.

Flights to Algiers will move from Gatwick to Heathrow and Warsaw
flights to Gatwick.  There will also be a new daily service
Gatwick to Genoa in Italy starting on April 4, 2008.

Earlier in the month British Airways flew the England rugby
squad to the Rugby World Cup in France.  The airline is the
official carrier of the team and re-named the aircraft "Hope and
Glory" in their honor.

The airline launched a new brand advertising campaign from
British Airways with a new television ad, followed by cinema,
radio, press and online.

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.


CHEYNE FINANCE: Moody's Cuts Rating to Ba3 on Medium Term Note
--------------------------------------------------------------
Moody's Investors Service downgraded the ratings assigned to the
Medium Term Note and Commercial Paper programs of Cheyne Finance
PLC and Cheyne Finance LLC (Cheyne Finance) as:

   * Euro MTN and US MTN programs

   -- Current rating: Aaa on review for possible downgrade;
   -- New Rating: Ba3 on review with direction uncertain.

   * Euro Commercial Paper, US Commercial Paper, Euro MTN, and
     US MTN programs

   -- Current Rating: Prime-1 on review for possible downgrade;
   -- New Rating: Not Prime

Moody's downgraded the Mezzanine and Combination Capital Notes
of Cheyne Finance on Sept. 5, 2007, and placed the ratings of
the above senior debt programs on review for possible downgrade.
Due to the current distressed market environment, Cheyne Finance
has had to liquidate assets to repay maturing commercial paper
and medium term notes.  The deterioration in market value of
Cheyne Finance's asset portfolio and the impact of crystallized
losses on the rated notes caused Cheyne Finance to go into
receivership on Sept. 5, 2007.  This rating action reflects
further deterioration in the market value of Cheyne Finance's
portfolio, which has resulted in the net asset value of capital
to drop significantly.  The long-term rating assigned to the
medium term note programs is on review with direction uncertain
to reflect certain restructuring proposals that are currently
under consideration by the vehicle's Receiver.  Moody's review
will focus both on the restructuring proposals and on the
evolution of the market prices of Cheyne Finance's assets.

Moody's notes that this rating action takes into account the
current stressful market conditions.  While the underlying
assets of Cheyne Finance remain highly rated, the unprecedented
illiquidity in the market for asset backed securities has
created a high level of uncertainty around the valuation of the
assets, causing Moody's to consider a higher price volatility
when determining the value of available capital.


CLOROX CO: Prices US$750 Million 11.40% Senior Notes Offering
-------------------------------------------------------------
The Clorox Company has priced the offering of US$750 million
aggregate principal amount of its senior notes in an
underwritten registered public offering.  The senior notes
consist of US$400 million aggregate principal amount of 5.95%
senior notes due 2017, and US$350 million aggregate principal
amount of 5.45% senior notes due 2012.  The offering was made
pursuant to an effective shelf registration statement filed by
The Clorox Company with the U.S. Securities and Exchange
Commission on Oct. 3, 2007.  The offering is expected to close
on Oct. 9, 2007, subject to customary closing conditions.

J.P. Morgan Securities Inc., Citigroup Global Markets Inc. and
Goldman, Sachs & Co. acted as joint lead book-running managers.
Clorox has filed a prospectus supplement and an accompanying
prospectus with the Securities and Exchange Commission in
connection with the offering of the senior notes.

Copies of these materials are available by contacting:

          J.P Morgan Securities Inc.
          270 Park Ave.
          New York NY 10017
          Tel: (212) 834-4533

          Citigroup Global Markets Inc.
          388 Greenwich St.
          New York, NY 10013,
          Tel. (877) 858-5407

               -- or --

          Goldman, Sachs & Co.
          85 Broad St.
          New York, NY 10004
          Tel: (866) 471-2526

Electronic copies of the prospectus supplement and accompanying
prospectus are available at http://www.sec.gov/

Clorox intends to use the net proceeds from the offering to
retire commercial paper issued in connection with its repurchase
of its common stock under an accelerated stock repurchase
agreement entered into on Aug. 10, 2007.

                     About Clorox Company

Headquartered in Oakland, California, The Clorox Company
(NYSE: CLX) -- http://www.thecloroxcompany.com/-- provides
household cleaning products and reaches beyond bleach.  Although
best known for bleach (leader worldwide), Clorox makes laundry
and cleaning items (Formula 409, Pine-Sol, Tilex), cat litter
(Fresh Step), car care products (Armor All, STP), the Brita
water-filtration system (in North America), and charcoal
briquettes (Kingsford).

The company has locations worldwide, including the Philippines,
South Korea, Hungary, Russia and the United Kingdom.

At Dec. 31, 2006, Clorox's balance sheet showed total assets of
US$3,624 million and total liabilities of US$3,657 million
resulting in a stockholders' deficit of US$33 million.  The
company reported a stockholders' deficit of US$156 million at
June 30, 2006.


COLLINS & AIKMAN: Posts US$27,403,332 Net Loss in August 2007
-------------------------------------------------------------
                   Collins & Aikman Corporation
                          Balance Sheet
                      As of August 31, 2007

                              ASSETS

Cash
US$287,143,339
Accounts receivable-trade, net                      125,427,294
Other non-trade receivables                           7,397,507
Inventories, net                                     22,751,493
Tooling and molding, net-current                     26,671,312
Prepaids & other current assets                      20,317,945
Deferred tax assets-current                                   0
                                                ---------------
TOTAL CURRENT ASSETS                                489,708,890

Investments in subsidiaries                       2,479,293,518
Fixed assets, net                                   146,252,923
Goodwill, net                                        59,622,121
Deferred tax assets-long term                                 0
Tooling and molding, net-long term                    1,515,939
Other noncurrent assets                              24,688,944
Intercompany accounts - net                          50,372,177
Prepetition intercompany - net                      633,676,975
                                                ---------------
TOTAL ASSETS                                   US$3,885,131,488
                                                ===============

                       LIABILITIES & EQUITY

Notes payable
US$0
Short term borrowings                                         0
Advance on receivables                                        0
Current portion-long term debt                      111,060,000
Current portion-capital leases                                0
Accounts payable                                     37,697,376
Accrued interest payable                            100,441,287
Accrued & other liabilities                          76,765,701
Income taxes payable                                  4,689,864
                                                ---------------
Total current liabilities                           330,654,228

Liabilities subject to compromise                 2,402,845,272
Deferred income taxes                                30,472,400
                                                ---------------
Total liabilities                                 2,763,971,900

Total equity                                      1,121,159,588
                                                ---------------
TOTAL LIABILITIES & EQUITY                     US$3,885,131,488
                                                ===============


                  Collins & Aikman Corporation
                        Income Statement
                  Month Ended August 31, 2007

Net outside sales
US$71,018,129
I/C Net sales                                        (4,227,509)
                                                ---------------
Total sales                                          66,790,620

Cost of Sales                                        72,709,138
                                                ---------------
Gross profit                                         (5,918,518)

Selling, general & administrative expenses            6,815,022
                                                ---------------
Operating income                                    (12,733,540)

Interest expenses, net                                7,096,668
Intercompany interest, net                           (3,513,622)
Preferred stock accretion                                     0
Miscellaneous (income)/expense                                0
Corporate allocation adjustment                               0
Commission income                                      (230,022)
Commission expense                                            0
Royalty income                                         (510,184)
Royalty expense                                               0
Joint Venture (Income)/Expense                                0
Minority interest in cons net income                          0
Dividend income                                               0
Discount/Income for Carcorp.                                  0
Gain/(Loss) early extinguishments of debt                     0
Discount/Premium on hedges                                    0
(Gain)/Loss on hedges                                         0
(Gain)/Loss on swaps                                          0
NAAIS Intercompany sales profit                               0
Loss on sale of receivables                                   0
Restructuring provision                             (18,193,018)
Asset Impairment                                     30,300,379
Foreign transactions - (Gain)/Loss                     (326,269)
Amort of discount on NPV of liabilities                       0
(Gain)/Loss on sale-leaseback transaction                     0
                                                ---------------
Income from continuing operations before taxes      (27,357,472)

Federal income tax                                            0
State income tax                                              0
Foreign income tax                                       30,670
                                                ---------------
Income from continuing operations                   (27,388,142)

Discontinued operations                                  15,190
Gain/Loss on sale of divisions                                0
Extraordinary items                                           0
Integration                                                   0
                                                ---------------
NET INCOME (LOSS)                                (US$27,403,332)
                                                ===============

Headquartered in Troy, Mich., Collins & Aikman Corporation --
http://www.collinsaikman.com/-- is a global leader in cockpit
modules and automotive floor and acoustic systems and is a
leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of approximately 23,000 and a network of more
than 100 technical centers, sales offices and manufacturing
sites in 17 countries throughout the world.  The Company and its
debtor-affiliates filed for chapter 11 protection on May 17,
2005 (Bankr. E.D. Mich. Case No. 05-55927).  Richard M. Cieri,
Esq., at Kirkland & Ellis LLP, represents C&A in its
restructuring.  Lazard Freres & Co., LLC, provides the Debtors
with investment banking services.  Michael S. Stammer, Esq., at
Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors Committee.  When the
Debtors filed for protection from their creditors, they listed
US$3,196,700,000 in total assets and US$2,856,600,000 in total
debts.

On Aug. 30, 2006, the Debtors filed a Joint Chapter 11 Plan and
a Disclosure Statement explaining that plan.  On Dec. 22, 2006,
they filed an Amended Plan and on Jan. 22, 2007, filed a
modified Amended Plan.  On Jan. 25, 2007, the Court approved the
adequacy of the Disclosure Statement.  On July 18, 2007, the
Court confirmed the Debtors' Liquidation Plan.  The Debtors'
cases are set to be closed on Feb. 28, 2008.  (Collins & Aikman
Bankruptcy News, Issue No. 75; Bankruptcy Creditors' Service
Inc.; http://bankrupt.com/newsstand/or 215/945-7000)


DOLGARROG ALUMINIUM: Administrators Start Phased Shutdown
---------------------------------------------------------
Brian Green, Paul Flint and Myles Halley, Dolgarrog Aluminium
Ltd.'s joint administrators have started a phased wind down of
the plant following the failure of a number of interested
parties to complete a sale of the business and assets.

Despite holding detailed negotiations with a number of
interested parties, a going concern sale now appears unlikely
and, as part of the shut down process, redundancies will start
to be made.  These will take place over the shut down period
which is expected to last two weeks.

"Despite all our efforts to complete a sale, no interested party
has managed to secure sufficient funding to take the business
forward.  This is significant for the local community and our
decision to wind down the operation was not taken lightly.  We
would like to take this opportunity to thank all of the
employees for their support over the last eight weeks," Brian
Green disclosed.

KPMG LLP -- http://www.kpmg.co.uk/-- offers accounting, audit,
and tax-related services to customers in such target industries
as banking, media and entertainment, consumer products, health
care providers, insurance, and pharmaceuticals.

Based in Conwy, North Wales, Dolgarrog Aluminium Ltd. --
http://www.dolgarrog.com/-- the firm is the only fully
integrated casting and rolling aluminium mill in the U.K.  It
employs 170 people and last year had a turnover or around GBP19
million.  Dolgarrog supplies products into four key industries
including electrolytic zinc extraction and aerospace
engineering.


DURA AUTOMOTIVE: Incurs US$11.4 Million Net Loss in August 2007
---------------------------------------------------------------
        Dura Automotive Systems, Inc., and Subsidiaries
        Condensed Unaudited Consolidated Balance Sheet
                     As of August 26, 2007
                     (Dollars in thousands)

                             ASSETS

Current Assets:
  Cash and cash equivalents
US$13,597
  Accounts receivable, net
     Trade                                              134,255
     Other                                               10,929
     Non-Debtor subsidiaries                             28,934
  Inventories                                            81,955
  Other current assets                                   37,163
                                                     ----------
     Total current assets                               306,803


Property, plant and equipment, net                      164,318
Goodwill, net                                           249,927
Notes receivable from Non-Debtors subsidiaries          184,198
Investment in Non-Debtors subsidiaries                  790,647
Other noncurrent assets                                  25,179
                                                     ----------
Total Assets                                       US$1,721,072
                                                     ==========

             LIABILITIES AND STOCKHOLDERS' INVESTMENT

Current liabilities:
  Debtors-in-possession financing
US$249,130
  Accounts payable                                       54,525
  Accounts payable to Non-Debtors subsidiaries            1,377
  Accrued Liabilities                                    84,759
                                                     ----------
     Total current liabilities                          389,791

Long-term Liabilities:
  Notes Payable to Non-Debtors subsidiaries               8,812
  Other noncurrent liabilities                           60,742
Liabilities Subject to Compromise                     1,312,352
                                                     ----------
Total Liabilities                                     1,771,697

Stockholders' Investment                                (50,625)
                                                     ----------
Total Liabilities and Stockholders' Investment     US$1,721,072
                                                     ==========


       Dura Automotive Systems, Inc., and Subsidiaries
  Condensed Unaudited Consolidated Statement of Operations
            For the Four Weeks Ended August 26, 2007
                     (Dollars in thousands)

Total sales
US$83,342
Cost of sales                                            80,238
                                                     ----------
Gross (loss) profit                                       3,104

Selling, general and administrative expenses              5,627
Facility consolidation, asset impairment
  and other charges                                         452
Amortization expense                                         34
                                                     ----------
Operating (loss) income                                  (3,009)

Interest expense, net                                     3,749
                                                     ----------
Loss before reorganization items and income taxes        (6,758)

Reorganization items                                      4,637
                                                     ----------
Income before income taxes                              (11,395)

Provision for income taxes                                   12
                                                     ----------
Net Income (Loss)                                    (US$11,407)
                                                     ==========


       Dura Automotive Systems, Inc., and Subsidiaries
  Condensed Unaudited Consolidated Statements of Cash Flows
            For the Four Weeks Ended July 29, 2007
                     (Dollars in thousands)

Operating Activities:
Net Income (loss)
(US$11,407)
Adjustments to reconcile net loss to net cash used
  in operations activities:
     Depreciation, amortization & asset impairment        2,468
     Amortization of deferred financing fees                708
     (Gain)/Loss on sale of assets                           61
     Reorganization items                                 4,637
Changes in other operating items:
  Accounts receivable                                   (14,749)
  Inventories                                             2,284)
  Other current assets                                      541
  Noncurrent assets                                         245
  Accounts payable                                        7,293
  Accrued liabilities                                    (1,163)
  Noncurrent liabilities                                   (227)
  Current intercompany transactions                       5,057
                                                     ----------
Net cash provided by operating activities                (4,249)

Investing Activities:
Purchases of property, plant & equipment                 (1,332)
Proceeds from sales of assets
                                                     ----------
Net cash (used in) provided by
   investing activities                                  (1,332)

Financing Activities:
DIP borrowings                                           12,474
Payments on Prepetition Date                               (303)
                                                     ----------
Net cash provided by financing activities                12,171
Net Increase (Decrease) in Cash & Equivalents             6,590

Cash & Cash Equivalent, Beginning Balance                 7,007
                                                     ----------
Cash & Cash Equivalent, Ending Balance                US$13,597
                                                     ==========

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 US$1,993,178,000 in total assets
and US$1,730,758,000 in total liabilities.

The Debtors' exclusive plan-filing period expired on Sept. 30,
2007.  Confirmation hearing of the plan will begin on Nov. 26,
2007.  (Dura Automotive Bankruptcy News, Issue No. 32 Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).


EMERALD WINDOWS: Brings In Liquidators from Vantis Business
-----------------------------------------------------------
G. Mummery and P. Atkinson of Vantis Business Recovery Services
were appointed joint liquidators of Emerald Windows Ltd. on
Sept. 26 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


EUROTUNNEL GROUP: To Launch Reverse Stock Split for GET Shares
--------------------------------------------------------------
The board of Eurotunnel Group decided to launch a reverse stock
split of GET shares.  The event which is planned to start on
Nov. 12, 2007, will be initiated, as set out in the safeguard
plan, with a ratio of one new share for every 40 old shares.

At the same meeting, the Board, in accordance with AMF
regulations, decided on the principle of a "contrat d’animation
de marche" (market maker’s contract) in order to reduce the
excessive volatility in the shares.

"This consolidation constitutes a further step in the financial
restructuring of the group, as set out in the safeguard plan.
Our shares will have a visibility in the market which better
reflects the real value of the company, today and for the
future," Jacques Gounon, chairman and CEO of Groupe Eurotunnel,
disclosed.

The detailed terms of these actions will be the subject of
further detailed notices and of an announcement by the company.

                       About Eurotunnel

Headquartered in Folkestone, United Kingdom and Calais, France,
Eurotunnel Group (aka Groupe Eurotunnel S.A.) --
http://www.eurotunnel.co.uk/-- operates a fleet of 25 shuttle
trains, which carry cars, coaches and trucks.  It manages the
infrastructure of the Channel Tunnel and receives toll revenues
from train operating companies whose trains pass through the
Tunnel.

The British and French governments have granted Eurotunnel a
concession to operate the Channel Tunnel until 2086.

Eurotunnel Group files reports in the U.S. Securities and
Exchange Commission under the names of Eurotunnel PLC (ETNUF.PK)
and Eurotunnel S.A. (ETTFF.PK).

At Dec. 31, 2006, Eurotunnel's balance sheet showed GBP5.25
billion in total assets, GBP6.56 billion in total liabilities
and GBP1.32 billion in shareholders' deficit.

                    Safeguard Protection

Eurotunnel obtained Aug. 2, 2006, an order placing the channel
operator under the protection of the Court pursuant to the new
safeguard legislation (Procedure de sauvegarde).  At the end of
2006, the group's creditors and bondholders approved a plan to
decrease its GBP6.2 billion debt to GBP2.84 billion.

On Jan. 15, 2007, the Court approved Eurotunnel's safeguard
plan, backed by the court-appointed representatives to the
company and to the creditors.

For the first half ended June 30, 2007, Group Eurotunnel posted
net loss of EUR32 million compared with a net loss of EUR105
million for the same period in 2006.


FINLAW 532: Claims Filing Period Ends November 16
-------------------------------------------------
Creditors of Finlaw 532 Ltd. have until Nov. 16 to send in their
names, addresses and descriptions, full particulars of their
debts and claims, and the names and addresses of their
solicitors (if any) to:

         Peter Alan Kubik
         Joint Liquidator
         UHY Hacker Young
         St. Alphage House
         2 Fore Street
         London
         EC2Y 5DH
         England

Peter Alan Kubik and Ladislav Hornan both of UHY Hacker Young
were appointed joint liquidators of the company on Sept. 26 for
the creditors' voluntary winding-up proceeding.


GEOTHERMIC HEATING: Calls In Liquidators from Vantis Business
-------------------------------------------------------------
G. Mummery and M. Weller of Vantis Business Recovery Services
were appointed joint liquidators of Geothermic Heating Solutions
Ltd. (formerly Grant Harrold Supplies Ltd.) on Sept. 26 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


ICONIX BRAND: Closes US$231-Mil. Official Pillowtex Acquisition
---------------------------------------------------------------
Iconix Brand Group Inc. has closed acquisition of Official
Pillowtex, LLC, a licensing company that owns a large portfolio
of home brands including four primary brands, Cannon, Royal
Velvet, Fieldcrest and Charisma and numerous others home brands
including St. Mary's and Santa Cruz.  The purchase price for the
acquisition was approximately US$231 million in cash with
contingent payments of up to an additional US$15 million in cash
based upon the brands surpassing specific revenue targets.

Neil Cole, Chairman and Chief Executive Officer, Iconix, stated,
"We are pleased to acquire Pillowtex in a diversifying and
transformative acquisition for Iconix.  The home sector is a
natural progression for Iconix and we plan to infuse these
brands with our strategic and innovative marketing as we expand
them into new categories."

Based in New York City, Iconix Brand Group Inc. (Nasdaq: ICON)
-- http://www.iconixbrand.com/-- owns fashion brands to retail
distribution from the luxury market.  The company licenses its
brands to retailers and manufacturers worldwide.  The group has
international licensees in Mexico, Japan and the United Kingdom.

                        *     *     *

As reported in the Troubled Company Reporter on June 20, 2007,
Standard & Poor's Ratings Services revised its ratings outlook
on Iconix Brand Group Inc. to negative.  At the same time,
Standard & Poor's assigned its 'B-' debt rating to Iconix's then
proposed US$250 million convertible senior subordinated notes
due 2012.

As reported in the Troubled Company Reporter on June 18, 2007,
Moody's Investors Service affirmed Iconix Brand Group Inc.'s
corporate family rating at B1 and assigned a B3 rating to the
company's then proposed US$250 million convertible senior
subordinated note offering.


ISOFT GROUP: Shareholders Okay IBA Health Revised Offer
-------------------------------------------------------
The shareholder resolutions to approve the revised offer by IBA
Health Ltd. for iSOFT Group plc, to be effected by means of a
scheme of arrangement, were duly passed at the Court Meeting and
the Extraordinary General Meeting held earlier on Oct. 4, 2007.

At the Court Meeting, a majority in number of iSOFT
Shareholders, who voted either in person or by proxy and who
together represented over 75% by value of the votes cast, voted
in favor of the resolution to approve the Revised Scheme.  The
resolution was accordingly passed.

At the Extraordinary General Meeting, the special resolution
providing for the implementation of the Revised Scheme was also
passed by the requisite majority.

                          Court Meeting

The voting on the resolution to approve the Revised Scheme was
taken on a poll and the results were:

    * Number of Meeting Shareholders voting:

      For: 398 (98.03%)
      Against: 8 (1.97%)

    * Number of votes:

      For: 58,555,013 (99.98%)
      Against: 12,982 (0.02%)

                Extraordinary General Meeting

The voting on the Special Resolution giving effect to the
Revised Scheme was taken on a poll and the results were as:

    * Number of votes:

      For: 117,832,722 (99.98%)
      Against: 32,426 (0.02%)

Implementation of the Revised Offer remains subject to the High
Court of Justice for England and Wales sanctioning the Revised
Scheme at the Court Hearing which is expected to take place on
Oct. 25, 2007 and confirming the associated reduction of iSOFT's
share capital at the Court Hearing which is expected to take
place on Oct. 29, 2007.  Subject to the Revised Scheme receiving
the sanction and confirmation of the Court on those dates, the
effective date of the Revised Scheme is expected to be Oct. 30,
2007.  It is also expected that if the Revised Scheme becomes
effective on Oct. 30, 2007, listing of the iSOFT Shares will be
cancelled at or about 8:00 a.m. on Oct. 30, 2007.  The
consideration due to shareholders is expected to be sent no
later than 14 days after the effective date.

                      IBA Revised Cash Offer

As previously reported in the TCR-Europe on Aug. 24, 2007, IBA
has submitted a revised cash offer of AUD410.7 million (GBP166.3
million) for iSOFT.  The revised offer will have a scrip
alternative.

IBA has also agreed to acquire around 56.6 million shares in
iSOFT from existing shareholders representing 24.3% of the
issued capital of iSOFT.

Under the revised offer, iSOFT shareholders will be entitled to
receive:

   -- 69 pence cash for each iSOFT share; or

   -- 1.65 IBA shares for every 1 iSOFT share, an implied offer
      price of 70.2 pence for each iSOFT share based on AEP's
      subscription price under the share component of the AEP
      Investment of US$1.05 per IBA share (61.5 pence for each
      iSOFT share at IBA's closing price of US$0.92 on Aug. 21,
      2007); or

   -- a combination of cash and the Share Alternative.

The cash offer represents a 4.5% premium to CompuGROUP's offer
of 66 pence for each iSOFT share on July 20, 2007.

                          About iSOFT

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

                           *   *   *

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

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

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

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

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

                      Going Concern Doubt

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

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


LEVEL 3: Submits Proposal to Resolve Pending FCC Proceeding
-----------------------------------------------------------
Level 3 Communications, Inc. filed a proposal with the Federal
Communications Commission suggesting a possible resolution to
the special access regulation proceeding currently pending
before the FCC.

Level 3's proposed solution would enable the FCC to undertake a
comprehensive review of the competitive marketplace and
establish new rules to address concerns over current special
access services.  Special access services are communications
circuits offered by incumbent carriers like AT&T, Verizon and
Qwest.  Business customers and competitive carriers frequently
buy these services to enable voice, data and video
communications between customer locations.  Even competitive
carriers with their own extensive networks frequently purchase
special access services to allow them to deliver services to
buildings not reached by their networks.  As a result, incumbent
carriers can dramatically influence the extent of competition
within their regions by making it more difficult or expensive to
purchase special access services.

Carriers and businesses spend an estimated US$16 billion
annually on special access services, the vast majority of which
is paid to large incumbent carriers.  In most instances, special
access purchasers do not have a competitive choice for such
services,

and must purchase from the incumbent carrier because that
carrier owns the only facilities serving the customer location.
Due to this effective monopoly, Congress and the FCC have
regulated prices, terms and conditions for special access
services since the passage of the 1996 Telecom Act.

The FCC is currently considering revising those regulations, and
both buyers and sellers of special access services have a large
stake in the proceeding.  Level 3's proposal for resolving the
issue proposes a two-step "investigate and freeze" approach.

First, the FCC would promptly use its investigative power to
initiate a comprehensive examination of competition in the
special access market by collecting data from facilities-
based competitive carriers.  The FCC would ask those carriers,
within each area that they compete, to provide information on
the buildings where they currently have the ability to provide
competitive services over their own networks.

Second, the FCC would impose a "true freeze" on current special
access rates while it completes its investigation of special
access competition.  Under a "true freeze," special access
customers would have the option of extending their current
contracts on the same commercial terms as exist today.

"This issue is too important to attempt regulation or
deregulation based on incomplete facts," John Ryan, assistant
chief legal officer of Level 3, said.  "Our proposal is designed
to allow the FCC to determine the appropriate level of
regulation with full knowledge regarding competition in the
special access market.  The information that we ask the FCC to
collect will allow intelligent and targeted regulation of
incumbent carrier special access offerings, eventually
permitting incumbent carriers more freedom where competition
exists, but restraining uncompetitive pricing, terms and
conditions in areas where carriers and customers have no
alternative but to purchase services from the incumbent
carrier."

Under Level 3's proposal, the FCC would determine how to
regulate incumbent carriers in areas where the collected data
shows little or no competition.  While the FCC collects accurate
competitive data, Level 3 believes that the FCC should, at a
minimum, implement a freeze on incumbent special access rates.
Such a freeze would assure that, while competitive information
is collected and evaluated, special access market conditions
would not worsen.

                       About Level 3

Headquartered in Broomfield, Colorado, Level 3 Communications
Inc. (Nasdaq: LVLT) -- http://www.level3.com/-- is an
international communications company.  The company provides a
comprehensive suite of services over its broadband fiber optic
network including Internet Protocol (IP) services, broadband
transport and infrastructure services, colocation services,
voice services and voice over IP services.

                          *     *     *

As reported in the Troubled Company Reporter on Aug. 28, 2007,
Fitch has upgraded Level 3 Communications, Inc. (Nasdaq: LVLT)
and its wholly owned subsidiary Level 3 Financing, Inc.'s Issuer
Default Rating to 'B-' from 'CCC'.


NASH FINCH: Denies Default Under Sr. Convertible Bond Indenture
---------------------------------------------------------------
Nash Finch Company received a purported notice of default, last
month, that was subsequently reissued on Sept. 27, 2007, to
correct a procedural defect in the initial notice, from certain
hedge funds who are beneficial owners purporting to hold at
least 25% of the aggregate principal amount of its Senior
Subordinated Convertible Notes due 2035.  The hedge funds
alleged in the notice that Nash Finch was in breach of Section
4.08(a)(5) of the Indenture governing the Notes, which provides
for an adjustment of the conversion rate on the Notes in the
event of an increase in the amount of certain cash dividends to
holders of Nash Finch's common stock.

Nash Finch believes it made all required adjustments to the
conversion rate on the Notes after it increased the quarterly
dividends paid to shareholders from US$0.135 to US$0.18 per
share and, accordingly, does not believe that a default has
occurred under the Indenture.

On Sept. 26, 2007, Nash Finch filed a petition, asking the
Hennepin County District Court to determine that Nash Finch
properly adjusted the conversion rate on the Notes after Nash
Finch increased the amount of the dividends it paid to its
shareholders.

However, to avoid any uncertainty, Nash Finch has asked the
Trustee to execute a supplemental indenture clarifying the
company's obligations with respect to such increases in its
quarterly dividends.

The Indenture trustee has filed an action in the Hennepin County
District Court, in Minneapolis, Minnesota, for an order
determining its obligations with respect to the supplemental
indenture.  Nash Finch has filed its own action in the same
court, seeking a determination that the supplemental indenture
is proper and should be executed, and that regardless of whether
the supplemental indenture is executed, no default has occurred
under the Indenture.

Under the terms of the Indenture, if a default has occurred,
Nash Finch would have 30 days from the date of receipt of a
valid notice of default to cure.

Nash Finch has asked the Court to toll the 30 day cure period
while the Court determines whether the Indenture trustee must
execute the supplemental indenture and whether Nash Finch
adjusted the conversion rate in accordance with the requirements
of the Indenture.  If the Court determines the hedge fund's
assertion to be correct, Nash Finch would cure the default by
making an upward adjustment in the conversion rate of 0.4307
shares per US$1,000 bond.

"In consultation with our legal and financial advisors, Nash
Finch determined that it made all required adjustments to the
conversion rate on the Notes, and therefore we are confident
that no event of default has occurred," Bob Dimond, Executive
Vice President and CFO of Nash Finch, said.  "We are
disappointed that this small group of noteholders has chosen to
pursue this path –- it appears to be nothing more than an
opportunistic attempt to achieve financial gain that is well
beyond what they are due."

Headquartered in Minneapolis, Minnesota, Nash Finch Company
(NASDAQ:NAFC) –- http://www.nashfinch.com/-- distributes food
products.  Nash Finch's core business, food distribution, serves
independent retailers and military commissaries in 31 states,
the District of Columbia, Europe, Cuba, Puerto Rico, the Azores
and Egypt. The Company also owns and operates a base of retail
stores, primarily supermarkets under the Econofoods(R), Family
Thrift Center(R) and Sun Mart(R) trade names.

                         *     *     *

As reported in the TCR-Europe on Oct. 5, 2007, Moody's Investors
Service placed the ratings of Nash Finch's Corporate Family
Rating of B2 under review for possible downgrade.

This follows the issuance on September 27th by certain hedge
funds of a default notice, claiming that Nash Finch was in
breach of a covenant within its senior subordinated convertible
notes due 2035.  Specifically, the notice claims that the
company was in breach of section 4.08(a)(5) of the indenture,
which provides for an adjustment in the conversion rate on the
notes in the event Nash Finch increases its dividend.


NATION RESOURCES: Taps Liquidators from Baker Tilly
---------------------------------------------------
Andrew White and Susan Agnes Maund of Baker Tilly Restructuring
and Recovery LLP were appointed joint liquidators of Nation
Resources Ltd. on Sept. 19 for the creditors' voluntary winding-
up procedure.

The joint liquidators can be reached at:

         Baker Tilly Restructuring and Recovery LLP
         International House
         Queens Road
         Brighton
         East Sussex
         BN1 3XE
         England


WHOLE FOODS: Completes Sale of Henry's Farmers and Sun Harvest
--------------------------------------------------------------
Whole Foods Market Inc. has completed the sale of all 35 Henry's
Farmers Markets and Sun Harvest Markets store locations and a
related Riverside, California distribution center to a wholly
owned subsidiary of Smart & Final Inc., a Los Angeles-based food
retailer.

The company received proceeds of approximately US$166 million
for the net assets of these stores, consisting of leases, fixed
assets and inventory.

All of the Henry's stores are located in California, and all of
the Sun Harvest stores are located in Texas.  These assets were
acquired by the company as part of the Aug. 31, 2007, purchase
of Wild Oats Markets.

As reported in the Troubled Company Reporter on June 25, 2007,
Whole Foods planned to transfer all 35 Henry's and Sun
Harvest store locations, and a Riverside, California,
distribution center to a wholly owned subsidiary of Smart &
Final Inc., subject to Whole Foods Market lawsuit with the U.S.
Federal Trade Commission concerning Whole Foods Market's merger
with Wild Oats Markets Inc. and the closing of that merger.

Additionally, WFM and Smart & Final entered into a support
agreement under which WFM will continue to provide certain
products and services for the 35 stores for up to two years. WFM
anticipates that the revenue associated with the agreement will
be approximately equal to its incremental cost of providing the
support.

Regarding the other 74 Wild Oats and Capers banner stores the
company acquired in the Wild Oats Markets transaction, the
Company intends to close nine stores and relocate another eight
stores to existing Whole Foods Market sites in development.

The company also opened a record 21 new Whole Foods Market
stores during the fiscal year ended Sept. 30, 2007, including
eight stores in the fourth quarter.

                    About Smart & Final Inc.

Headquartered in City of Commerce, California, Smart & Final
Inc. -- http://www.smartandfinal.com/-- is engaged in the
business of providing food and related non-food items in bulk
sizes and quantities.  The company sells food, foodservice
products and culinary equipment through non-membership warehouse
stores and wholesale stores.  Its product selection includes
grocery, frozen and refrigerated foods, delicatessen products,
fresh produce and meat, paper products, janitorial supplies,
restaurant equipment, candy, snacks, beverages and party
supplies.  As of Dec. 31, 2006, the company operated 253 non-
membership warehouse grocery stores, either directly or through
a joint venture.  As of December 31, 2006, it operated 185
stores under the Smart & Final banner in California, Arizona and
Nevada; 55 stores under the banners Smart Foodservice Cash &
Carry and United Grocers Cash & Carry in Washington, Oregon,
Idaho and California, and 13 Smart & Final format stores,
similar in concept to the United States stores, in north western
Mexico through a joint venture.

                    About Whole Foods Market

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

                          *     *     *

As reported in the Troubled Company Reporter on 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 after
the debt-financed acquisition of Wild Oats Markets Inc.


* BOND PRICING: For the Week Oct. 1 to Oct. 5, 2007
---------------------------------------------------
Issuer                    Coupon   Maturity   Currency   Price
------                    ------   --------   --------   -----

AUSTRIA
-------
Kommunal Kredit
  Austria AG              0.500    03/15/19     CDN      61.39
                          0.250    10/14/26     CDN      38.32
Republic of Austria       4.000    06/22/22     EUR      72.16
                          0.396    08/04/25     EUR      65.93
                          5.243    10/10/25     EUR      61.58
                          6.000    10/24/35     EUR      71.33

FINLAND
-------
Muni Finance PLC          1.000    03/19/13     AUD      72.55
                          0.500    04/26/13     AUD      69.89
                          1.000    11/21/16     NZD      56.11
                          1.000    10/30/17     AUD      56.98
                          0.500    09/24/20     CDN      56.20
                          0.250    06/28/40     CDN      20.00

FRANCE
------
Accor S.A.                1.750    01/01/08     EUR      67.43
Alcatel S.A.              4.750    01/01/11     EUR      16.14
Altran Technologies S.A.  3.750    01/01/09     EUR      12.48
BNP Paribas               0.250    12/20/14     US$      69.42
CAP Gemini S.A.           2.500    01/01/10     EUR      55.55
                          1.000    01/01/12     EUR      47.67
Club Mediterranee S.A.    3.000    11/01/08     EUR      66.88
                          4.375    11/01/10     EUR      50.97
FCC Rome Alliance
    Funding               2.256    01/08/21     EUR      73.37
Havas S.A.                4.000    01/01/09     EUR      10.80
Infogrames
   Entertainment S.A.     1.500    04/01/09     EUR      00.50
Ingenico                  2.750    01/01/12     EUR      21.13
Maurel & Prom             3.500    01/01/10     EUR      22.00
Publicis Group            0.750    07/17/08     EUR      31.30
                          1.000    01/18/18     EUR      42.93
Rallye                    3.750    01/01/08     EUR      51.46
Rhodia S.A.               0.500    01/01/14     EUR      45.24
Scor S.A.                 4.125    01/01/10     EUR       2.30
Soc Air France            2.750    04/01/20     EUR      31.94
Soitec                    4.625    12/20/09     EUR      12.55
Thomson (EX-TMM)          1.000    01/01/08     EUR      39.53
Valeo                     2.375    01/01/11     EUR      50.26
Vivendi Universal S.A.    1.750    10/30/08     EUR      30.74
Wavecom S.A.              1.750    01/01/14     EUR      27.49
Wendel Invest S.A.        2.000    06/19/09     EUR      49.05

GERMANY
-------
KfW Bankengruppe          0.500    10/30/13     AUD      67.83
                          0.500    12/19/17     EUR      65.92
                          5.000    05/23/20     EUR      74.48
                          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      67.46
Landeskreditbank Baden-
   Wuerttemberg Foerderbk 0.500    05/10/27     CDN      42.00
Landwirtschaftliche
   Rentenbank AG          1.000    03/29/17     NZD      55.26
Treofan AG               11.000    08/01/13     EUR      65.13

GREECE
------
Hellenic Republic         6.000    07/06/25     EUR      66.38
                          6.000    07/06/25     EUR      65.63
                          6.000    07/06/25     EUR      71.89

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

IRELAND
-------
Depfa ACS Bank            0.500    03/03/25     CDN      45.75
                          0.250    07/08/33     CDN      27.22
Irish Perm Plc            6.125    02/15/35     EUR      65.86
Magnolia Finance IV Plc   1.050    12/20/45     US$      26.97

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      34.19

NETHERLANDS
-----------
ABN AMRO Bank N.V.        6.250    06/29/35     EUR      69.58
ALB Fnance B.V.           7.875    02/01/12     EUR      79.47
                          9.250    09/25/13     US$      82.00
BK Ned Gemeenten          0.500    06/27/18     CDN      62.44
                          0.500    02/24/25     CDN      45.78
EM.TV Finance B.V.        5.250    05/08/13     EUR       6.09
Energy Group O/S          7.425    10/15/17     US$      32.50
Gerling Global            3.500    08/16/21     EUR      62.81
Lehman Bros TSY B.V.      6.000    02/15/35     EUR      68.16
                          8.250    03/16/35     EUR      60.25
                          7.000    05/17/35     EUR      62.87
                          7.250    10/05/35     EUR      57.73
                          6.000    11/02/35     EUR      61.50
Ned Waterschapbk          6.000    06/01/35     EUR      71.29
                          6.500    08/15/35     EUR      62.84
Rabobank Groep N.V.       6.000    04/08/20     EUR      73.06
                          6.000    02/22/35     EUR      66.78
                          2.000    02/23/35     EUR      62.84
                          7.000    02/28/35     EUR      69.84
                          7.000    03/23/35     EUR      64.46
                          6.000    05/09/35     EUR      72.86

NORWAY
------
Kommunalbanken A.S.       0.500    02/07/13     AUD      70.50

SWEDEN
------
AB Svensk Export          0.500    03/27/13     AUD      70.23

SWITZERLAND
-----------
UBS AG                    1.000     01/25/12    NZD      74.68
                          1.000     02/27/12    NZD      74.28
                          1.000     03/28/12    NZD      73.84
                          1.000     06/28/12    NZD      72.72
                          1.000     07/30/12    NZD      72.39

TURKEY
------
Republic of Turkey       14.000     01/19/11    TRY      99.29

UNITED KINGDOM
--------------
Anglian Water
   Finance Plc            2.400     04/20/35    GBP      53.34
Bank of Scotland          6.000     02/07/35    EUR      68.15
National Grid Gas Plc     1.754     10/17/36    GBP      44.58
                          1.771     03/30/37    GBP      44.54
Northern Rock Plc         5.625     01/13/15    GBP      77.15
Royal BK Scotland Plc     0.250     03/27/14    US$      72.31
                          9.500     04/04/25    US$      69.40
                          7.000     06/09/25    EUR      63.23
                          7.000     06/29/30    EUR      56.73
                          6.500     02/23/45    EUR      62.33
Wessex Water Finance Plc  1.369     07/31/57    GBP      29.12

                            *********

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

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

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

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

                            *********


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

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

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

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

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

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


                 * * * End of Transmission * * *