TCREUR_Public/071016.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

           Tuesday, October 16, 2007, Vol. 8, No. 205

                            Headlines


A U S T R I A

AUFZUG- UND BAUSCHLOSSEREI: Claims Registration Ends Oct. 30
BASLA LLC: Claims Registration Period Ends Oct. 31
BKW LLC: Claims Registration Period Ends October 30
BRUESTLE LLC: Claims Registration Period Ends November 2
GLASEREI STEINLECHNER: Wels Court Orders Business Shutdown

INOVAT LLC: Vienna Court Orders Business Shutdown
X-TENDER ELEKTROINSTALLATION: Claims Registration Ends Nov. 2
ZIVKO STOJANOVIC: Claims Registration Period Ends Nov. 2


B E L G I U M

LEVI STRAUSS: Satisfies Terms on US$525MM Senior Notes Offering
SOLUTIA INC: Files Consensual Plan of Reorganization
SOLUTIA INC: Incurs $9,000,000 Net Loss in Month Ended August 31
TELENET BIDCO: Fitch Rates EUR2.3 Billion Senior Loan at BB


F R A N C E

EDITIS HOLDING: Moody's Lifts Corporate Family Rating to Ba3


G E R M A N Y

1A AUTOMATION: Creditors' Meeting Slated for October 29
A&O 4TEC: Creditors' Meeting Slated for November 8
A&O ITEC: Creditors' Meeting Slated for November 8
ABBING VIEH: Claims Registration Period Ends October 30
AKZENT HOTEL: Creditors Must File Claims by November 10

BAU GMBH: Creditors Must File Claims by November 5
BAUUNTERNEHMUNG LANGENBAHN: Creditors Must File Claims by Nov. 5
BERND MEYN: Claims Registration Period Ends November 2
C CAFE GASTRONOMIEBETRIEBE: Claims Period Ends Oct. 29
CASALITH VERWALTUNGS: Claims Registration Period Ends Oct. 16

CHRYSLER LLC: Council Approves New Contract Ratification
COMPEDO TINTEN: Claims Registration Period Ends Oct. 23
DIGITALDRUCKE BAYERLEIN: Claims Registration Ends November 13
ECKL UND WIEDENHOEFT: Claims Registration Ends October 30
FRUEH-LINK TRANSPORT: Claims Registration Period Ends Nov. 1

KLINKSIEK GMBH: Creditors Must File Claims by November 8
KOMBINART GMBH: Creditors Must File Claims by November 6
MT INTERNATIONEL: Claims Registration Period Ends Nov. 2
MT MALER: Claims Registration Period Ends November 3
NYLSTAR DEUTSCHLAND: Claims Registration Ends November 12

PORTIUS GMBH: Claims Registration Ends November 13
RATIE FOTO: Claims Registration Ends November 12
RESERV GESELLSCHAFT: Creditors Must File Claims by November 5


I R E L A N D

COMMSCOPE: Moody's Cuts Rating to Ba3 Pending Andrew Acquisition


I T A L Y

DANA CORP: Amends Centerbridge Capital Investment Agreement
IMAX CORPORATION: Catalyst Fund Withdraws New York Lawsuit


K A Z A K H S T A N

BUSINESS ALSTROI: Proof of Claim Deadline Slated for Nov. 20
DOS CREDO: Creditors Must File Claims November 21
FORUM TRADING: Claims Filing Period Ends November 20
IMAN-TV LLP: Creditors' Claims Due on November 20
LIDER REALTY: Claims Registration Ends November 20

MILK WAY: Proof of Claim Deadline Slated for November 21
PV SKB: Creditors Must File Claims November 16
SGKP KAINAR: Claims Filing Period Ends November 21
SMART LLP: Creditors' Claims Due on November 21


L U X E M B O U R G

EVRAZ GROUP: Merging Units to Focus on Local Demand


R U S S I A

BASHKIRSKIYE SEMIPRECIOUS: Creditors Must File Claims by Dec. 6
DALSVYAZ OAO: Fitch Upgrades IDR to B+ on Financial Improvements
DYURTYULINSKOYE OJSC: Asset Sale Slated for November 9
EVRAZ GROUP: Merging Units to Focus on Local Demand
GORNAYA: Creditors Must File Claims by December 6

IMPRO CJSC: Creditors Must File Claims by December 6
LENINA SOVKHOZ* PAC*: Creditors Must File Claims by Nov. 6
MECHETLINSKIJ STROITEL': Creditors Must File Claims by Nov. 6
MK VITYAZ' & VITYAZ'-TRANS: Asset Sale Slated for Oct. 28
MPO TOIR: Bidding Deadline Slated for October 31

MUE* RB*: Bankruptcy Hearing Slated for Feb. 13, 2008
OILMASH OJSC: Asset Sale Slated for November 12
RUSSIAN STANDARD: Moody's Changes Rating Outlook to Negative
URAL BUSINESS: Creditors Must File Claims by Dec. 6
URALCHEMPRODUCT CJSC: Creditors Must File Claims by Dec. 6


S W I T Z E R L A N D

CABALLERO FM: Claims Registration Period Ends October 21
DENTALWEB LLC: Creditors' Liquidation Claims Due October 22
FINSERVE JSC: Creditors' Liquidation Claims Due October 22
JOERGENSEN ASSOCIATED: Creditors' Liquidation Claims Due Oct. 24
KEMMOR JSC: Creditors' Liquidation Claims Due October 22

KMK KARL: Creditors' Liquidation Claims Due October 24
PANNEKUK HOLDING: Zug Court Starts Bankruptcy Proceedings
PAR-JEW JSC: Creditors' Liquidation Claims Due October 22
PETER & CO: Creditors' Liquidation Claims Due October 24
PROPACK ASIA: Creditors' Liquidation Claims Due October 24

SANITARFIX SUISSE: Claims Registration Period Ends October 22
SOCIETE ANONYME: Creditors' Liquidation Claims Due October 31
STC SAFETRADE: Creditors' Liquidation Claims Due October 22
TIGON JSC: Zug Court Starts Bankruptcy Proceedings
WIKIM JSC: Creditors' Liquidation Claims Due October 24


U K R A I N E

BUSINESS-PARTNER LLC: Creditors Must File Claims by October 17
HEAT TECHNICIAN: Creditors Must File Claims by October 17
OBRIY OJSC: Creditors Must File Claims by October 17
RAMITA OJSC: Proofs of Claim Deadline Set October 17
REPUBLICAN MANAGEMENT: Creditors Must File Claims by October 17

SVET: Creditors Must File Claims by October 17
TERMINAL LLC: Proofs of Claim Deadline Set October 17
TRAYMAX-DNIPRO LLC: Creditors Must File Claims by October 17
UKRAINIAN LIGHT: Creditors Must File Claims by October 17
ZHMERINKA FOOTBALL: Creditors Must File Claims by October 17


U N I T E D   K I N G D O M

AQUARIUS DRINKS: Taps Joint Administrators from Begbies Traynor
COLLINS & AIKMAN: Closes Sale of Soft Trim Division to IAC NA
CONNEXXION UK: Brings In Vantis as Joint Administrators
FORD MOTOR: Names Jim Farley VP of Marketing & Communications
GENERAL MOTORS: Provides Overview of National Agreement w/ UAW

HOSPITAL TELEPHONE: Taps Smith & Williamson as Administrators
NORTHERN ROCK: Virgin Group Consortium Prepares Bid
RANK GROUP: Retail Business Revenue Drops on Smoking Ban
REMY INT'L: Bankruptcy Filing Cues Moody's to Withdraw Ratings
REMY INTERNATIONAL: S&P Assigns Default Rating on US$125MM Notes

REMY WORLDWIDE: Can Use Cash Collateral for Debt Payment
REMY WORLDWIDE: Gets Interim Court Nod on US$160MM DIP Financing
SEA CONTAINERS: Earns US$11,158,734 in Month Ended August 31

* Large Companies with Insolvent Balance Sheet

                            *********

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


AUFZUG- UND BAUSCHLOSSEREI: Claims Registration Ends Oct. 30
------------------------------------------------------------
Creditors owed money by Aufzug- und Bauschlosserei Ltd. (FN
262379b) have until Oct. 30 to file written proofs of claim to
court-appointed estate administrator Matthias Klissenbauer at:

         Dr. Matthias Klissenbauer
         Gonzagagasse 15
         1010 Vienna
         Austria
         Tel: 533 28 55
         Fax: 533 28 55 28
         E-mail: office@klissenbauer.com

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:45 a.m. on Nov. 13 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1607
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Sept. 10 (Bankr. Case No. 28 S 102/07i).


BASLA LLC: Claims Registration Period Ends Oct. 31
--------------------------------------------------
Creditors owed money by LLC Basla (FN 184168k) have until
Oct. 31 to file written proofs of claim to court-appointed
estate administrator Thomas Steiner at:

         Mag. Thomas Steiner
         Weihburggasse 18-20/50
         1010 Vienna
         Austria
         Tel: 513 53 63
         E-mail:  steiner.steiner@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on Nov. 14 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1707
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Sept. 12 (Bankr. Case No. 2 S 122/07i).


BKW LLC: Claims Registration Period Ends October 30
---------------------------------------------------
Creditors owed money by LLC BKW (FN 273040f) have until Oct. 30
to file written proofs of claim to court-appointed estate
administrator Johannes Hofmann at:

         Dr. Johannes Hofmann
         Ringstrasse 38
         4600 Wels
         Austria
         Tel: 07242/65358
         Fax: 07242/65358-25
         E-mail: ra.hofmann@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 1:20 p.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 Str. 12
         Wels
         Austria

Headquartered in Wels, Austria, the Debtor declared bankruptcy
on Sept. 12 (Bankr. Case No. 20 S 117/07t).


BRUESTLE LLC: Claims Registration Period Ends November 2
--------------------------------------------------------
Creditors owed money by LLC Bruestle (FN 143292z) have until
Nov. 2 to file written proofs of claim to court-appointed estate
administrator Harald Burmann at:

         Dr. Harald Burmann
         Meraner Strasse 1
         6020 Innsbruck
         Austria
         Tel: 0512/ 58 86 86
         Fax: 0512/ 58 86 86 20
         E-mail: kanzlei@jus-tirol.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:50 a.m. on Nov. 16 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Innsbruck
         Room 214
         Second Floor
         Maximilianstrasse 4
         6020 Innsbruck
         Austria

Headquartered in Hall in Tirol, Austria, the Debtor declared
bankruptcy on Sept. 10 (Bankr. Case No. 7 S 50/07y).


GLASEREI STEINLECHNER: Wels Court Orders Business Shutdown
----------------------------------------------------------
The Land Court of Wels entered Sept. 12 an order shutting down
the business of LLC Glaserei Steinlechner (FN 277309h).

Court-appointed estate administrator Gerhard Goetschhofer
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. Gerhard Goetschhofer
         Schlossplatz 15
         4655 Vorchdorf
         Austria
         Tel: 07614/7575
         Fax: 07614/7575-14
         E-mail: rechtsanwalt@goetschhofer.at

Headquartered in Gmunden, Austria, the Debtor declared
bankruptcy on Sept. 10 (Bankr. Case No 20 S 114/07a).


INOVAT LLC: Vienna Court Orders Business Shutdown
-------------------------------------------------
The Trade Court of Vienna entered Sept. 13 an order shutting
down the business of LLC Inovat (FN 255062t).

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

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Sept. 5 (Bankr. Case No 2 S 118/07a).  Eva Wexberg represents
Dr. Kainz in the bankruptcy proceedings.


X-TENDER ELEKTROINSTALLATION: Claims Registration Ends Nov. 2
-------------------------------------------------------------
Creditors owed money by LLC X-Tender Elektroinstallation (FN
268561v) have until Nov. 2 to file written proofs of claim to
court-appointed estate administrator Leopold Riess at:

         Dr. Leopold Riess
         c/o Dr. Eva Riess
         Zeltgasse 3/12
         1080 Vienna
         Austria
         Tel: 402 57 01
         Fax: 402 57 01 21
         E-mail: law@riess.co.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:15 a.m.  on Nov. 15 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. 7 (Bankr. Case No. 5 S 107/07f).  Eva Riess represents
Dr. Riess in the bankruptcy proceedings.


ZIVKO STOJANOVIC: Claims Registration Period Ends Nov. 2
--------------------------------------------------------
Creditors owed money by KEG Zivko Stojanovic (FN 211490s) have
until Nov. 2 to file written proofs of claim to court-appointed
estate administrator Felix Stortecky at:

         Dr. Felix Stortecky
         c/o Dr. Katharina Widhalm-Budak
         Schulerstrasse 18
         1010 Vienna
         Austria
         Tel: 513 88 37
         Fax: 512 88 37 22
         E-mail: office@stortecky.at
                 widhalm-budak@anwaltsteam.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:45 a.m. on Nov. 15 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. 10 (Bankr. Case No. 5 S 109/07z).  Katharina Widhalm-
Budak represents Dr. Stortecky in the bankruptcy proceedings.


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


LEVI STRAUSS: Satisfies Terms on US$525MM Senior Notes Offering
---------------------------------------------------------------
Levi Strauss & Co. has satisfied certain conditions to the
tender offer for all of its outstanding US$525 million aggregate
principal amounts of its 12.25% Senior Notes due 2012, including
the amendment of its senior secured revolving credit facility.

The company also disclosed that the holders of Notes
representing not less than a majority in aggregate principal
amount of the outstanding Notes have validly tendered their
Notes and delivered their consents.

The company and the trustee for the Notes have executed a
supplemental indenture to the indenture governing the Notes that
eliminates or makes less restrictive most of the restrictive
covenants, and certain related events of default, contained in
the indenture.

The company has entered into a second amended and restated
credit agreement among the company, Levi Strauss Financial
Center Corporation, the financial institutions party thereto and
Bank of America, N.A., as agent.

A summary description of the material terms of the amendment
includes:

   * The term of the Credit Agreement has been extended through
     Oct. 11, 2012.

   * The maximum availability under the Credit Agreement was
     increased from US$550 million to US$750 million and
     includes a US$250 million term loan tranche.  The entire
     Credit Agreement will be secured by certain U.S. trademarks
     associated with the Levi's(R) brand.  The term loan
     tranche amortizes on a quarterly basis based on a straight
     line two-year amortization schedule to a residual value of
     25% of the net orderly liquidation value of the trademarks
     with no additional repayments required until maturity so
     long as the remaining amount of the tranche does not
     exceed such 25% valuation.  The term loan tranche will be
     borrowed on a first dollar drawn basis.  As the term loan
     tranche is repaid, the maximum availability under the
     Credit Agreement will not be automatically reduced by the
     amount of the repayment.  The lien on the trademarks, but
     not the other assets, will be released upon the full
     repayment of the term loan tranche.

   * The Credit Agreement includes as a financial covenant a
     springing fixed charge coverage ratio of 1:1, which arises
     when excess availability under the Credit Agreement is
     less than US$100 million.  This covenant will be
     discontinued upon termination and repayment of the term
     loan tranche described above and the implementation of a
     liquidity reserve of US$50 million.

   * The revolving portion of the Credit Agreement initially
     bears an interest rate of LIBOR plus 150 basis points or
     base rate plus 25 basis points subject to adjustments
     based on availability.  The term loan tranche bears an
     interest rate of LIBOR plus 250 basis points or base rate
     plus 125 basis points.

In connection with its tender offer and consent solicitation,
the company has accepted for purchase US$505.8 million of the
outstanding aggregate principal amount of the Notes for a total
payment of US$563.2 million, including US$15.2 million in
consent payments to holders who validly tendered their Notes and
delivered their consents on or prior to 5 p.m., New York City
time, on Oct. 3, 2007.

The company drew US$343.2 million under the second amended and
restated revolving credit facility and used US$220 million from
cash on hand to fund these payments.

The tender offer will expire at midnight, New York City time,
Wednesday, Oct. 17, 2007, unless extended by the company.
Holders who validly tender their Notes after 5 p.m., New York
City time, on Oct. 3, 2007 and prior to the expiration of the
tender offer will not receive the consent payment and, therefore
their tender consideration will be US$1,043.99 per US$1,000
principal amount of Notes.

The company has retained Credit Suisse Securities (USA) LLC as a
dealer manager and solicitation agent in connection with the
tender offer and consent solicitation.  Questions about the
tender offer and consent solicitation may be directed to Credit
Suisse at 212-325-4951 (collect).

Holders can request documents from D.F. King & Co. Inc., the
information agent and tender agent, at 888-887-0082 (U.S. toll
free) or 212-269-5550 (collect).

                    About Levi Strauss & Co.

Headquartered in San Francisco, California, Levi Strauss & Co.
-- http://www.levistrauss.com/-- is a branded apparel company.
The company designs and markets jeans and jeans-related pants,
casual and dress pants, tops, jackets and related accessories
for men, women and children under its Levi's, Dockers and Levi
Strauss Signature brands in markets around the world.  Levi
Strauss & Co. distributes its Levi's and Dockers products
primarily through chain retailers and department stores in the
United States, and through department stores, specialty
retailers and franchised stores abroad.  The company distributes
its Levi Strauss Signature products through mass channel
retailers in the United States and abroad.

Levi Strauss Europe is headquartered in Brussels, Belgium, while
Levi's Asia Pacific division is based in Singapore.  Levi's has
operations in Brazil, Mexico, Chile and Peru.

                          *     *     *

As reported in the Troubled Company Reporter on Aug. 30, 2007,
Standard & Poor's Ratings Services raised its ratings on Levi
Strauss & Co. including its long-term corporate credit rating to
'B+' from 'B'.  The outlook is stable.


SOLUTIA INC: Files Consensual Plan of Reorganization
----------------------------------------------------
Solutia Inc. filed a consensual plan of reorganization on Oct.
15, 2007, that has the support of all major constituents in its
Chapter 11 case.  The plan -- known as the fifth amended plan of
reorganization -- was filed with the U.S. Bankruptcy Court for
the Southern District of New York along with Solutia's fifth
amended disclosure statement.

As reported in the Troubled Company Reporter on Sept. 27, 2007,
Solutia secured the support of all of the major constituents in
its Chapter 11 cases for a consensual plan of reorganization,
including the Ad Hoc Committee of Solutia Noteholders, the
Official Committee of Equity Security Holders, the Official
Committee of Unsecured Creditors, Monsanto Company, Pharmacia
Corporation, the Official Committee of Retirees, and the Ad Hoc
Committee of Trade Creditors.  As part of the settlement, the
following parties executed agreements earlier this month in
support of the settlement and revised plan of reorganization:
Monsanto, noteholders controlling at least $300.1 million in
principal amount of the 2027/2037 notes, the official committee
of general unsecured creditors, the official committee of equity
security holders, the ad hoc trade committee, and Solutia.

"This consensual plan of reorganization will facilitate
Solutia's emergence from Chapter 11 as a financially healthy
company," Jeffry N. Quinn, chairman, president and chief
executive officer of Solutia Inc., said.

             Major Terms Underlying Settlement and
                       Reorganization Plan

(1) $250 Million of New Investment

The revised plan will provide for $250 million of new investment
in reorganized Solutia.  This investment will be in the form of
a rights offering to the noteholders and general unsecured
creditors, who will be given the opportunity to purchase shares
of the new common stock on a pro rata basis at a 33.3% discount
to the implied equity value.  The rights offering will be
backstopped by a group of Solutia's creditors (i.e. they will
purchase any shares not bought by other creditors).  For this
commitment they will receive a fee of 2.50% and an allocation of
15% of the rights offering.

The $250 million generated as a result of the rights  offering
will be used: $175 million will be set aside in a Voluntary
Employees' Beneficiary Association Retiree Trust to fund the
retiree welfare benefits for those pre-spin retirees whom
receive these benefits from Solutia; and $75 million will be
used by Solutia to pay for other legacy liabilities being
retained by the company.

(2) Relief from Tort Litigation and Environmental Remediation
    Liabilities

Consistent with Solutia and Monsanto's prior agreement, the
settlement provides that Monsanto will take on financial
responsibilities in the areas of tort litigation and
environmental
remediation.

   -- Monsanto will be financially responsible for all
      current and future tort litigation costs arising from
      Pharmacia's chemical business prior to the Solutia
      spinoff.  This includes litigation arising from
      exposure to PCBs and other chemicals.

   -- Monsanto will accept financial responsibility for
      environmental remediation and clean-up obligations at
      all sites for which Solutia was required to assume
      responsibility at the spinoff but which were never
      owned or operated by Solutia.  Solutia will remain
      responsible for the environmental liabilities at sites
      that it presently owns or operates.

   -- Solutia and Monsanto will share financial
      responsibility  with respect to two sites. Under this
      cost-sharing arrangement the first $50 million of post-
      emergence remediation and cleanup costs will be funded by
      the proceeds of the rights offering described above.
      Upon emergence, Solutia would be responsible for the
      funding of these sites up to an agreed amount.
      Thereafter, if needed, Monsanto and Solutia would share
      responsibility equally.

(3) Current Equity Holders New Common Stock Purchase Option

Under the revised plan, in addition to other considerations,
current equity holders that own at least a specified number of
shares of Solutia common stock will receive rights to purchase,
at the time of the company's emergence from bankruptcy, a pro
rata share of up to 17% of the new common stock for
$175 million which is at a discount from the implied equity
value under the revised plan.  The proceeds from the sale of
this equity will fund a cash payment to Monsanto of up to $175
million.  Any portion of the 17% of the new common stock that is
not purchased by current equity holders will be distributed to
Monsanto under the revised plan.

(4) Settlement of Litigation and Claims Objection

Each of the settling parties has agreed to stay all pending
litigation relating to Solutia's chapter 11 cases until the
effective date of the plan, at which time this litigation will
be dismissed.  This includes objections to the disclosure
statement and plan of reorganization filed by the noteholders
and the equity security holders, the adversary proceeding filed
by the equity security holders against Monsanto and Pharmacia,
objections to the claims filed in the case by Monsanto and
Pharmacia, and the noteholders' appeal of the decision in the
litigation related to the secured or unsecured nature of their
claims.

(5) Composition of Board of Directors

Under the revised plan, reorganized Solutia's Board of Directors
will be comprised of nine members, including: Jeffry N. Quinn,
Solutia's chairman, president and chief executive officer; J.
Patrick Mulcahy, a current director of Solutia; one director
designated by each of Monsanto, the general unsecured creditors
and the noteholders; and four directors designated by a five-
person search committee consisting of Mr. Quinn, two
representatives from the noteholders and one representative each
from the general unsecured creditors and the ad hoc trade
creditors.  Solutia has engaged the services of Spencer Stuart,
a global search firm, to begin the process of helping identify
and recommend highly qualified board candidates.

(6) Anticipated Creditor Recoveries and Equity Ownership

Assuming full subscription to the rights offering by the
participating parties (including the backstop parties), a full
exercise of the new common stock purchase option, and an
estimated general unsecured claims pool of $342 million, the
following creditors and equity security holders will receive
these distributions:

   -- General Unsecured Creditors will receive their pro rata
      share of 31.4% of the new common stock, resulting in a
      recovery of 80.6 cents on the dollar.

   -- Noteholders will receive their pro rata share of
      43.8% of the new common stock, resulting in a
      recovery of 88.4 cents on the dollar.

   -- Monsanto will receive up to $175 million in cash.  Any
      shares of new common stock not purchased by current
      equity holders pursuant to the new common stock
      purchase option will be distributed to Monsanto and
      the cash distribution reduced accordingly.

   -- Equity Security Holders will receive their pro rate
      share of 1% of the new common stock and pursuant to
      the new common stock purchase option, holders that own
      at least a specified number of shares of Solutia
      common stock will receive rights to purchase a pro
      rata share of up to 17% of the new common stock.

      Assuming the new common stock purchase option is
      fully exercised, current equity security holders will
      own up to 18% of the new common stock.

      Additionally, current equity security holders will
      have these rights:  i) holders who own at least a
      specified number of shares of Solutia common stock will
      receive their pro rata share of five-year warrants to
      purchase 7.5% of the common stock; and ii) holders who
      own at least a specified number of shares of Solutia
      common stock will receive the right to participate in a
      buy out for cash of  general unsecured claims of less
      than $100,000 for an amount equal to 52.35% of the
      allowed amount of such claims, subject to election of
      each general unsecured creditor to sell their claim.

   -- Retirees will receive the benefits provided for under
      the terms of the settlement between Solutia and its
      retirees, which was previously announced and is not
      being altered by the settlement currently announced.
      In accordance with that settlement, the retirees, as
      a class, will receive 2% of the new common stock.
      This stock will be deposited into a VEBA trust that
      will be used to pay retiree welfare benefits.  This
      is in addition to the $175 million from the rights
      offering that will also be deposited into the VEBA
      trust.

   -- Backstop Parties (the backstoppers of the rights
      offering) will own 4.7% of the new common stock.

                    General Plan Assumptions

Solutia will be an independent, publicly traded company listed
on a national exchange.  The enterprise value of reorganized
Solutia is currently estimated to be $2.85 billion, with
corresponding implied reorganization equity value of
approximately $1.2 billion.  In total, 59.75 million common
shares will be issued and allocated upon emergence, exclusive of
an anticipated management incentive plan to be approved as part
of the revised plan of reorganization.

An Oct. 19, 2007 hearing has been set at which the court will be
asked to approve the disclosure statement.  Once approved, the
disclosure statement will be sent to Solutia's creditors and
equity interest holders to solicit approval of the plan.  The
solicitation period will run for 30 days from the mailing of the
solicitation materials.  Following the solicitation period, the
court will hold a hearing to confirm the plan, after which
Solutia will emerge from Chapter 11.

Full-text copies of the fifth amended plan of reorganization and
disclosure statement is available for free at
http://www.solutia.com/reorganization/

                      About Solutia Inc.

Headquartered in St. Louis, Missouri, Solutia Inc. (OTCBB:SOLUQ)
-- http://www.solutia.com/-- and its subsidiaries, engage in
the manufacture and sale of chemical-based materials, which are
used in consumer and industrial applications worldwide.  Solutia
has operations in Malaysia, China, Singapore, Belgium, and
Colombia.  Saflex is a registered trademark of Solutia Inc.

The company and 15 debtor-affiliates filed for chapter 11
protection on Dec. 17, 2003 (Bankr. S.D.N.Y. Case No. 03-17949).
When the Debtors filed for protection from their creditors, they
listed $2,854,000,000 in assets and $3,223,000,000 in debts.

Solutia is represented by Allen E. Grimes, III, Esq., at
Dinsmore & Shohl, LLP and Conor D. Reilly, Esq., at Gibson,
Dunn & Crutcher, LLP.  Trumbull Group LLC is the Debtor's claims
and noticing agent.  Daniel H. Golden, Esq., Ira S. Dizengoff,
Esq., and Russel J. Reid, Esq., at Akin Gump Strauss Hauer &
Feld LLP represent the Official Committee of Unsecured
Creditors, and Derron S. Slonecker at Houlihan Lokey Howard &
Zukin Capital provides the Creditors' Committee with financial
advice.

On Feb. 14, 2006, the Debtors filed their Reorganization Plan &
Disclosure Statement.  On May 15, 2007, they filed an Amended
Reorganization Plan and on July 9, 2007, filed a 2nd Amended
Reorganization Plan.  The Disclosure Statement hearing began on
July 10, 2007, and is set to continue on Oct. 10, 2007.


SOLUTIA INC: Incurs $9,000,000 Net Loss in Month Ended August 31
----------------------------------------------------------------
                  Solutia Chapter 11 Debtors
              Unaudited Statement of Consolidated
                     Financial Position
                   As of August 31, 2007

                          ASSETS

Cash                                                $68,000,000
Trade Receivables, net                              200,000,000
Account Receivables-Unconsolidated Subsidiaries      62,000,000
Inventories                                         176,000,000
Other Current Assets                                 76,000,000
Assets of Discontinued Operations                     6,000,000
                                                 --------------
Total Current Assets                                588,000,000

Property, Plant and Equipment, net                  650,000,000
Investments in Subsidiaries and Affiliates          687,000,000
Intangible Assets, net                              100,000,000
Other Assets                                         56,000,000
                                                 --------------
Total Assets                                     $2,081,000,000

              LIABILITIES AND SHAREHOLDERS' DEFICIT

Accounts Payable                                   $213,000,000
Short Term Debt                                     922,000,000
Other Current Liabilities                           152,000,000
Liabilities of Discontinued Operations                4,000,000
                                                 --------------
Total Current Liabilities                         1,291,000,000

Long-Term Debt                                       19,000,000
Other Long-Term Liabilities                         194,000,000
                                                 --------------
Total Liabilities not Subject to Compromise       1,504,000,000

Liabilities Subject to Compromise                 1,850,000,000

Shareholders' Deficit                            (1,273,000,000)
                                                 --------------
Total Liabilities & Shareholders' Deficit        $2,081,000,000


                  Solutia Chapter 11 Debtors
        Unaudited Consolidated Statement of Operations
             For the Month Ended August 31, 2007

Total Net Sales                                    $219,000,000
Total Cost Of Goods Sold                            198,000,000
                                                 --------------
Gross Profit                                         21,000,000

Total MAT Expense                                    19,000,000
                                                 --------------
Operating Income (Loss)                               2,000,000

Equity Earnings from Affiliates                               0
Interest Expense, net                               (11,000,000)
Other Income, net                                     3,000,000

Reorganization Items:
Professional fees                                    (6,000,000)
Employee severance and retention costs                        0
Adjustment to allowed claim amounts                   5,000,000
Settlements of prepetition claims                    (2,000,000)
                                                 --------------
                                                     (3,000,000)
                                                 --------------
Income from continuing operations before taxes       (9,000,000)

Income tax expense (benefit)                                  0

Income from discontinued operations                           0
                                                 --------------
Net Income (Loss)                                   ($9,000,000)

                      About Solutia Inc.

Headquartered in St. Louis, Missouri, Solutia Inc. (OTCBB:SOLUQ)
-- http://www.solutia.com/-- and its subsidiaries, engage in
the manufacture and sale of chemical-based materials, which are
used in consumer and industrial applications worldwide.  Solutia
has operations in Malaysia, China, Singapore, Belgium, and
Colombia.  Saflex is a registered trademark of Solutia Inc.

The company and 15 debtor-affiliates filed for chapter 11
protection on Dec. 17, 2003 (Bankr. S.D.N.Y. Case No. 03-17949).
When the Debtors filed for protection from their creditors, they
listed $2,854,000,000 in assets and $3,223,000,000 in debts.

Solutia is represented by Allen E. Grimes, III, Esq., at
Dinsmore & Shohl, LLP and Conor D. Reilly, Esq., at Gibson,
Dunn & Crutcher, LLP.  Trumbull Group LLC is the Debtor's claims
and noticing agent.  Daniel H. Golden, Esq., Ira S. Dizengoff,
Esq., and Russel J. Reid, Esq., at Akin Gump Strauss Hauer &
Feld LLP represent the Official Committee of Unsecured
Creditors, and Derron S. Slonecker at Houlihan Lokey Howard &
Zukin Capital provides the Creditors' Committee with financial
advice.

On Feb. 14, 2006, the Debtors filed their Reorganization Plan &
Disclosure Statement.  On May 15, 2007, they filed an Amended
Reorganization Plan and on July 9, 2007, filed a 2nd Amended
Reorganization Plan.  The Disclosure Statement hearing began on
July 10, 2007, and is set to continue on Oct. 10, 2007.


TELENET BIDCO: Fitch Rates EUR2.3 Billion Senior Loan at BB
-----------------------------------------------------------
Fitch Ratings has assigned Belgium-based Telenet BidCo NV's new
EUR2.3 billion senior secured bank facility a rating of 'BB'.

Fitch has withdrawn the ratings of the existing EUR1 billion
bank facility ('BB+'), Telenet Communications NV's senior notes
('BB'), and Telenet Group Holding NV's senior discount notes
('B+') following the repayment and cancellation of the existing
bank facility and the redemption of the bonds on Oct. 10, 2007.

Telenet's new bank facility is structured as:

   -- EUR530 million five year term loan A;

   -- EUR532.5 million six and a half year (6 year average life)
      term loan B;

   -- EUR1.1 billion eight year term loan C; and

   -- EUR175 million seven year revolving credit facility.

The security package reflects that of the retired facility, and
includes share pledges over key group companies, pledges over
business assets and mortgages over real estate.  Financial
covenants include a maximum incurrence test (Net Total Debt /
Consolidated Annualized EBITDA) of 5x, leverage covenant (Net
Total Debt / Consolidated Annualized EBITDA) of 6.25x, falling
to 6.0x in 2010 and minimum Consolidated EBITDA / Total Cash
Interest of 2.1x.

The rating of the new bank facilities is one notch lower ('BB')
than that of the bank facility being replaced ('BB+').  This
compression (relative to Telenet's Long-term Issuer Default
rating of 'BB-') reflects the higher leverage multiple the
company has now indicated it will run its business at, along
with the fact that, once the refinancing and capital
distribution are complete, the company will be funded largely
with senior bank debt.

As at year ending 2006, Telenet had senior leverage (senior
debt/EBITDA) of approximately 1.9x and total leverage of 3.8x.
Fitch estimates at present that the company will end 2007 with
leverage in the range of 4.7-4.8x, which, but for a small amount
of finance leases and accrued fees relating to the use of its
Partner network, will reflect drawings under the new bank
facility.  The company has recently indicated it will maintain
leverage at up to 5x.

Telenet is the cable operator in the Flanders region in Belgium.
It has approximately 1.7 million unique customers accessed
through its own two-way capable cable network, and provides
coverage to a further 800,000 homes through the
Interkabel/Partner network (with which Telenet has a 50 year
service contract).  In the six months to June 2007, the company
generated EBITDA of EUR217.9 million (up by 19% year-on-year) on
sales of EUR456.7 million (up 15% year-on-year) - reflecting a
margin of 48%.

Telenet's Long-term IDR is 'BB-' with Stable Outlook.


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


EDITIS HOLDING: Moody's Lifts Corporate Family Rating to Ba3
------------------------------------------------------------
Moody's Investors Service upgraded to Ba3 from B1 the corporate
family rating of Editis Holding S.A.

This corporate Family rating has been re-assigned from Odyssee 1
S.A.S.  The outlook for the ratings is stable.

The rating upgrade reflects:

   (i) the company's improved operating efficiency with a margin
       based on reported operating income before other operating
       items excluding impact of goodwill of 10.6% for FY06 up
       from 9.3% in FY05 despite the transfer of the Larousse
       activity;

  (ii) the company's substantial de-leveraging with leverage
       down to 4.8 times on a debt to Ebitda basis from 5.2
       times in fiscal year 2005 and around 6.3 times on a net
       basis at the time of the initial rating assignment; and

(iii) the successful integration of recent acquisitions such as
       publishers Cherche Midi, First and XO.

The Ba3 corporate family rating also reflects the likelihood
that the company could consider larger acquisitions in the
fragmented French publishing market in the medium-term, although
near-term the credit facilities' covenants afford some
protection.  The ratings further reflect the relatively high
level of seasonality in Editis' business with approximately 80%
of its EBITDA generated in the second half and some concern that
the company might have to step up its so far limited investment
in electronic product development over time.

Editis' Ba3 Corporate Family Rating factors the company's
leading market positions with well known established brands and
the stability of the French publishing market, which enjoys the
highest per capita book consumption in Europe as well as
relative pricing stability for end-consumers.

Editis' broad sales base and diversity of earnings from an
approximately equal spread between its three main segments:
literature, education and sales and distribution despite a
limited geographical distribution in terms of sales, is viewed
by Moody's as a credit positive.  The relatively high barriers
to entry for new (foreign) entrants due to the French language
and cultural barriers, and Interforum Editis' strong sales and
distribution platform are also reflected in the rating.

Moody's expects that the company's main focus will be on organic
growth and that the company's free cash flows generated will be
used primarily for debt reduction in line with stated strategy.
The rating is strongly positioned within the Ba3 rating
category. Headroom exists within this rating for the company to
consider small bolt-on acquisitions, however any substantial
debt funded acquisitions could put downward pressure on the
rating.

Headquartered in Paris, France, Editis is the second largest
publisher in France.  For the financial year to Dec. 31, 2006,
Editis reported net revenues of EUR755 million.


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


1A AUTOMATION: Creditors' Meeting Slated for October 29
-------------------------------------------------------
The court-appointed insolvency manager for 1a Automation GmbH,
Harald E. Manias will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 10:00 a.m. on
Oct. 29.

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

         The District Court of Friedberg (Hessen)
         Hall 20a
         Homburger Strasse 18
         61169 Friedberg (Hessen)
         Germany

The Court will also verify the claims set out in the insolvency
manager's report on Nov. 5 at the same venue.

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

The insolvency manager can be reached at:

         Harald E. Manias
         LG-Fach 70
         Zasiusstr. 35
         79102 Freiburg i. Br.
         Germany
         Tel: 0761/75323
         Fax: 0761/73791

The District Court of Freiburg opened bankruptcy proceedings
against 1a Automation GmbH on Oct. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         1a Automation GmbH
         Schochenwinkel 16
         79353 Bahlingen
         Germany


A&O 4TEC: Creditors' Meeting Slated for November 8
--------------------------------------------------
The court-appointed insolvency manager for a&o 4Tec GmbH, Dr.
Frank Kebekus will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 11:00 a.m. on
Nov. 8.

The meeting of creditors and other interested parties 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 at 9:30 a.m. on Nov. 22 at the same venue.

Creditors have until Oct. 22 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Dr. Frank Kebekus
         Carl-Theodor-Str. 1
         40213 Duesseldorf
         Germany

The District Court of Duesseldorf opened bankruptcy proceedings
against a&o 4Tec GmbH on Oct. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         a&o 4Tec GmbH
         Forumstrasse 24
         41468 Neuss
         Germany


A&O ITEC: Creditors' Meeting Slated for November 8
--------------------------------------------------
The court-appointed insolvency manager for A&O ITEC GmbH, Dr.
Frank Kebekus, will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 11:45 a.m. on
Nov. 8.

The meeting of creditors and other interested parties 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 at 9:45 a.m. on Nov. 22 at the same venue.

Creditors have until Oct. 22 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Dr. Frank Kebekus
         Carl-Theodor-Str. 1
         40213 Duesseldorf
         Germany

The District Court of Duesseldorf opened bankruptcy proceedings
against A&O ITEC GmbH on Oct. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         A&O ITEC GmbH
         Forumstrasse 24
         41468 Neuss
         Germany


ABBING VIEH: Claims Registration Period Ends October 30
-------------------------------------------------------
Creditors of Abbing Vieh u. Futtermittel Handels GmbH have until
Oct. 30 to register their claims with court-appointed insolvency
manager Tanja Kreimer.

Creditors and other interested parties are encouraged to attend
the meeting at 8:45 a.m. on Nov. 20, at which time the
insolvency manager will present her first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court Muenster
         Meeting Hall 119 B
         Gerichtsstr. 2-6
         48149 Muenster
         Germany

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

The insolvency manager can be reached at:

         Tanja Kreimer
         Klosterstrasse 33
         48703 Stadtlohn
         Germany
         Tel: 02563/2083-0
         Fax: +492563208320

The District Court of Muenster opened bankruptcy proceedings
against Abbing Vieh u. Futtermittel Handels GmbH on Sept. 28.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Abbing Vieh u. Futtermittel Handels GmbH
         Attn: Maria Abbing, Manager
         Weststrasse 84
         48703 Stadtlohn
         Germany


AKZENT HOTEL: Creditors Must File Claims by November 10
-------------------------------------------------------
Creditors of Akzent Hotel Bayerischer Hof J.& J. Skibba GmbH
have until Nov. 10 to register their claims with court-appointed
insolvency manager Robert Wartenberg.

Creditors and other interested parties are encouraged to attend
the meeting at 10:05 a.m. on Nov. 29, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Schweinfurt
         Meeting Hall 22
         Eingang Friedenstr. 2
         Schweinfurt
         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:

         Robert Wartenberg
         Friedrichstr. 15
         96047 Bamberg
         Germany

The District Court of Schweinfurt opened bankruptcy proceedings
against Akzent Hotel Bayerischer Hof J.& J. Skibba GmbH on
Oct. 2.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Akzent Hotel Bayerischer Hof J.& J. Skibba GmbH
         Marktplatz 9
         97702 Muennerstadt
         Germany


BAU GMBH: Creditors Must File Claims by November 5
--------------------------------------------------
Creditors of Bau GmbH Schreiber have until Nov. 5 to register
their claims with court-appointed insolvency manager Friedbert
Striewe.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Dec. 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 Leipzig
         Hall 056
         Ground Floor
         Enforcement Court
         Bernhard Goering Strasse 64
         04275 Leipzig
         Germany

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

The insolvency manager can be reached at:

         Friedbert Striewe
         Fichtestrasse 3
         04275 Leipzig
         Germany

The District Court of Leipzig opened bankruptcy proceedings
against Bau GmbH Schreiber on Oct. 2.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Bau GmbH Schreiber
         Benndorfer Landstrasse 02
         04509 Delitzsch
         Germany

         Attn: Gerhard Schreiber, Manager
         Johannes-R.-Becher-Strasse 14
         04509 Delitzsch
         Germany


BAUUNTERNEHMUNG LANGENBAHN: Creditors Must File Claims by Nov. 5
----------------------------------------------------------------
Creditors of Bauunternehmung Langenbahn GmbH have until Nov. 5
to register their claims with court-appointed insolvency manager
Guenter Staab.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on Dec. 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 Saarbruecken
         Area Hall 13
         First Floor
         Vopeliusstrasse 2
         66280 Sulzbach
         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:

         Guenter Staab
         Sulzbachstrasse 26
         66111 Saarbruecken
         Germany

The District Court of Saarbruecken opened bankruptcy proceedings
against Bauunternehmung Langenbahn GmbH on Oct. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Bauunternehmung Langenbahn GmbH
         Gartnerstr. 7 - 9
         66125 Saarbruecken-Dudweiler
         Germany


BERND MEYN: Claims Registration Period Ends November 2
------------------------------------------------------
Creditors of Bernd Meyn Werkzeugversandhandels- GmbH have until
Nov. 2 to register their claims with court-appointed insolvency
manager Norbert Schrader.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on Nov. 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 Wuppertal
         Meeting Hall A234
         Second Floor
         Eiland 2
         42103 Wuppertal
         Germany

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

The insolvency manager can be reached at:

         Norbert Schrader
         Viehhofstr. 117
         42117 Wuppertal
         Germany
         Tel: 0202-430980
         Fax: 0202-4309843

The District Court of Wuppertal opened bankruptcy proceedings
against Bernd Meyn Werkzeugversandhandels- GmbH on Oct. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Bernd Meyn Werkzeugversandhandels- GmbH
         Oberhoelterfelder Str. 54-56
         42857 Remscheid
         Germany


C CAFE GASTRONOMIEBETRIEBE: Claims Period Ends Oct. 29
------------------------------------------------------
Creditors of C Cafe Gastronomiebetriebe GmbH have until Oct. 29
to register their claims with court-appointed insolvency manager
Dr. Juergen Toemp.

Creditors and other interested parties are encouraged to attend
the meeting at 12:00 p.m. on Nov. 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Kleve
         Meeting Hall D 177
         Schlossberg 1
         47533 Kleve
         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. Juergen Toemp
         Wilhelmshofallee 75
         47800 Krefeld
         Germany
         Tel: 02151-58130
         Fax: 02151-5813134

The District Court of COURT opened bankruptcy proceedings
against C Cafe Gastronomiebetriebe GmbH on Oct. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         C Cafe Gastronomiebetriebe GmbH
         Stechbahn 13
         47533 Kleve
         Germany

         Attn: Frank Gerwers, Manager
         Hagsche Strasse 14-16
         47533 Kleve
         Germany


CASALITH VERWALTUNGS: Claims Registration Period Ends Oct. 16
-------------------------------------------------------------
Creditors of Casalith Verwaltungs-GmbH have until Oct. 16 to
register their claims with court-appointed insolvency manager
Jochen Sedlitz.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Oct. 23, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of 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:

         Jochen Sedlitz
         Raiffeisenstr. 30
         70794 Filderstadt
         Germany

The District Court of Stuttgart opened bankruptcy proceedings
against Casalith Verwaltungs-GmbH on Oct. 2.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Casalith Verwaltungs-GmbH
         Attn: Baerbel Strobel-Kaeser, Manager
         Alfred-Klingele-Str. 27
         73630 Remshalden
         Germany


CHRYSLER LLC: Council Approves New Contract Ratification
--------------------------------------------------------
The UAW Chrysler Council, which includes local union leaders
from Chrysler facilities throughout the United States, voted
overwhelmingly to recommend ratification of a new tentative
labor agreement with Chrysler reached on Oct. 10, 2007.  Local
union leaders voted to recommend ratification by UAW members
after meeting yesterday, Oct. 15, 2007, at Cobo Center in
Detroit, Michigan, where they were briefed on details of the
proposed new contract.

As reported in the Troubled Company Reporter on Oct. 11, 2007,
the tentative agreement includes a memorandum of understanding
to establish an independent retiree health care trust, as well
as other changes to the national agreement.  Following
ratification, implementation of the memorandum of understanding
is subject to approval by the courts and satisfactory review of
accounting treatment with the Securities Exchange Commission.

The national agreement is consistent with the economic pattern,
and balances the needs of its employees and company by providing
a framework to improve its long-term manufacturing
competitiveness.

“The UAW negotiating committees at Chrysler, both hourly and
salaried, did an excellent job bargaining this agreement and we
look forward to discussing it with our members in explanation
and ratification meetings which will begin this week,” UAW
President Ron Gettelfinger said.  “Thanks to the determination
of Chrysler workers, we have moved forward on our agenda to
protect manufacturing jobs in our communities -- and we have
also protected wages, health care and pensions for active and
retired workers.”

“This proposed agreement meets the challenges of our industry
head-on,“ UAW Vice President General Holiefield, who heads the
UAW Chrysler dept, said.  “It sets the stage for future success
at Chrysler, and for our members to share in that success.”

The UAW represents over 48,000 active workers and 78,000
retirees and surviving spouses at Chrysler.

                       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/--) $10 billion senior
secured first-lien term loan facility due 2013, following
various changes to terms and conditions prior to closing.  The
$10 billion first-lien term loan now consists of a $5 billion
"first-out" tranche and a $5 billion "second-out" tranche, so
the aggregate amount of first-lien debt remains unchanged.

Accordingly, S&P assigned a 'BB-' rating to the $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 $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
$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.


COMPEDO TINTEN: Claims Registration Period Ends Oct. 23
-------------------------------------------------------
Creditors of Compedo Tinten & Farbbaender GmbH CO have until
Oct. 23 to register their claims with court-appointed insolvency
manager Thorsten Klepper.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 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 Hagen
         Meeting Hall 259
         Second Floor
         Heinitzstrasse 42/44
         58097 Hagen
         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:

         Thorsten Klepper
         Hochstr. 124
         58095 Hagen
         Germany

The District Court of Hagen opened bankruptcy proceedings
against Compedo Tinten & Farbbaender GmbH on Oct. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Compedo Tinten & Farbbaender GmbH
         Corunnastr. 14 - 14 a
         58636 Iserlohn
         Germany

         Attn: Richard Pennekamp, Manager
         Ihmerter Str. 228 c
         58675 Hemer
         Germany


DIGITALDRUCKE BAYERLEIN: Claims Registration Ends November 13
-------------------------------------------------------------
Creditors of Digitaldrucke Bayerlein GmbH have until Nov. 13 to
register their claims with court-appointed insolvency manager
Andree Wernicke.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on Nov. 29, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Augsburg
         Meeting Hall 162
         Alten Einlass 1
         86150 Augsburg
         Germany

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

The insolvency manager can be reached at:

         Andree Wernicke
         Grottenau 6
         86150 Augsburg
         Germany

The District Court of Augsburg opened bankruptcy proceedings
against Digitaldrucke Bayerlein GmbH on Oct. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Digitaldrucke Bayerlein GmbH
         Attn: Dieter Bayerlein, Manager
         Benzstr. 11
         86356 Neusass
         Germany


ECKL UND WIEDENHOEFT: Claims Registration Ends October 30
---------------------------------------------------------
Creditors of Eckl und Wiedenhoeft GmbH have until Oct. 30 to
register their claims with court-appointed insolvency manager
Torsten Gutmann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:05 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 Hannover
         Hall 226
         Second Upper Floor
         Service Bldg.
         Hamburger Allee 26
         30161 Hannover
         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:

         Torsten Gutmann
         Kriegerstrasse 44
         30161 Hannover
         Germany
         Tel: 0511 2206268-0
         Fax: 0511 2206268-9

The District Court of Hannover opened bankruptcy proceedings
against Eckl und Wiedenhoeft GmbH on Oct. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Eckl und Wiedenhoeft GmbH
         Nordstr. 9
         31515 Wunstorf
         Germany


FRUEH-LINK TRANSPORT: Claims Registration Period Ends Nov. 1
------------------------------------------------------------
Creditors of FRUEH-LINK Transport GmbH mit Sitz in Zierow have
until Nov. 1 to register their claims with court-appointed
insolvency manager Bettina Schmudde.

Creditors and other interested parties are encouraged to attend
the meeting at 10:45 a.m. on Dec. 3, at which time the
insolvency manager will present her first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Schwerin
         Hall 7
         Demmlerplatz 14
         19053 Schwerin
         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:

         Bettina Schmudde
         Jungfernstieg 51
         20354 Hamburg
         Germany

The District Court of Schwerin opened bankruptcy proceedings
against FRUEH-LINK Transport GmbH mit Sitz in Zierow on Oct. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         FRUEH-LINK Transport GmbH mit Sitz in Zierow
         Attn: Volker Wattenbach, Manager
         Gewerbering 5
         23968 Gagelow b. Wismar
         Germany


KLINKSIEK GMBH: Creditors Must File Claims by November 8
--------------------------------------------------------
Creditors of Klinksiek GmbH & Co KG have until Nov. 8 to
register their claims with court-appointed insolvency manager
Jochen Schnake.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Nov. 29, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court 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:

         Jochen Schnake
         Ravensberger Str. 11 u. 12
         33824 Werther
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against Klinksiek GmbH & Co KG on Sept. 20.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Klinksiek GmbH & Co KG
         Zum Hiddinghof 16
         33775 Versmold
         Germany


KOMBINART GMBH: Creditors Must File Claims by November 6
--------------------------------------------------------
Creditors of Kombinart GmbH have until Nov. 6 to register their
claims with court-appointed insolvency manager Bernd Reuss.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 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 Giessen
         Hall 408
         Fourth Floor
         Building B
         Gutfleischstrasse 1
         35390 Giessen
         Germany

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

The insolvency manager can be reached at:

         Bernd Reuss
         Mainzer-Tor-Anlage 33
         D 61169 Friedberg
         Germany

The District Court of Giessen opened bankruptcy proceedings
against Bernd Reuss on Oct. 2.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Kombinart GmbH
         Luetzellindener Strasse 6
         35440 Linden
         Germany

         Attn: Heiko Glasel, Manager
         Braugasse 1
         63691 Ranstadt
         Germany


MT INTERNATIONEL: Claims Registration Period Ends Nov. 2
--------------------------------------------------------
Creditors of MT Internationel GmbH have until Nov. 2 to register
their claims with court-appointed insolvency manager Sven Bader.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on Nov. 22, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Wuppertal
         Meeting Hall A234
         Second Floor
         Eiland 2
         42103 Wuppertal
         Germany

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

The insolvency manager can be reached at:

         Sven Bader
         Carl-Grueber-Weg 14
         42853 Remscheid
         Germany
         Tel: 02191/421010
         Fax: 02191/421070

The District Court of Wuppertal opened bankruptcy proceedings
against MT Internationel GmbH on Oct. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         MT Internationel GmbH
         Attn: Monika Troost, Manager
         Muehlenstr. 7
         42897 Remscheid
         Germany


MT MALER: Claims Registration Period Ends November 3
----------------------------------------------------
Creditors of MT Maler Team GmbH have until Nov. 3 to register
their claims with court-appointed insolvency manager Frank
Ziegler.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on Dec. 3, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Wuppertal
         Meeting Hall A234
         Second Floor
         Eiland 2
         42103 Wuppertal
         Germany

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

The insolvency manager can be reached at:

         Frank Ziegler
         Untere Koenigsstrasse 71
         34117 Kassel
         Germany
         Tel: 0561/78496-0
         Fax: 0561/78496-22
         E-mail: info@rechtsanwalt-in-kassel.de

The District Court of Wuppertal opened bankruptcy proceedings
against MT Maler Team GmbH on Oct. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         MT Maler Team GmbH
         Attn: Peter Graf, Manager
         Naumburger Str. 19
         34127 Kassel
         Germany


NYLSTAR DEUTSCHLAND: Claims Registration Ends November 12
---------------------------------------------------------
Creditors of Nylstar Deutschland GmbH have until Nov. 12 to
register their claims with court-appointed insolvency manager
Dr. Heinz Pantaleon gen. Stemberg.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on Nov. 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Freiburg i. Br.
         Hall I
         Holzmarkt 2
         79098 Freiburg i.Br.
         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. Heinz Pantaleon gen. Stemberg
         LG-Fach 107
         Schillerstr. 2
         79102 Freiburg i. Br.
         Germany
         Tel: 0761/703900
         Fax: 0761/7039052

The District Court of Freiburg i. Br. opened bankruptcy
proceedings against Nylstar Deutschland GmbH on Oct. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Nylstar Deutschland GmbH
         Mitscherlichstr. 8
         79108 Freiburg
         Germany

         Attn: Maurizio Piglione, Manager
         c/o Alvarez and Marsal Kitalia srl
         Via Santa Maria Segreta 6
         20123 Milano
         Italy


PORTIUS GMBH: Claims Registration Ends November 13
--------------------------------------------------
Creditors of Portius GmbH have until Nov. 13 to register their
claims with court-appointed insolvency manager Burckhardt
Reimer.

Creditors and other interested parties are encouraged to attend
the meeting at 10:55 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 Hamburg
         Hall B405
         Fourth Floor
         Sievkingplatz 1
         20355 Hamburg
         Germany

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

The insolvency manager can be reached at:

         Burckhardt Reimer
         Domstrasse 15
         20095 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against Portius GmbH on Oct. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Portius GmbH
         Attn: Peter Middelhoff, Manager
         Marlowring 1
         22525 Hamburg
         Germany


RATIE FOTO: Claims Registration Ends November 12
------------------------------------------------
Creditors of RATIE Foto GmbH have until Nov. 12 to register
their claims with court-appointed insolvency manager
Christian Graf Brockdorff.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on Dec. 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Potsdam
         Hall 301
         Nebenstelle Lindenstrasse 6
         14467 Potsdam
         Germany

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

The insolvency manager can be reached at:

         Christian Graf Brockdorff
         Friedrich-Ebert-Strasse 36
         14469 Potsdam
         Germany

The District Court of Potsdam opened bankruptcy proceedings
against RATIE Foto GmbH on Oct. 2.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         RATIE Foto GmbH
         Attn: Britta Preusser, Manager
         Lankwitzer Strasse 33
         12107 Berlin
         Germany


RESERV GESELLSCHAFT: Creditors Must File Claims by November 5
-------------------------------------------------------------
Creditors of ReServ Gesellschaft fuer Recycling-Service mbH have
until Nov. 5 to register their claims with court-appointed
insolvency manager Hans Joachim Sistig.

Creditors and other interested parties are encouraged to attend
the meeting at 8:50 a.m. on Dec. 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 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:

         Hans Joachim Sistig
         Hochwinkel 3 a
         51069 Cologne
         Germany

The District Court of Cologne opened bankruptcy proceedings
against ReServ Gesellschaft fuer Recycling-Service mbH on
Oct. 1.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         ReServ Gesellschaft fuer Recycling-Service mbH
         Hansestr. 91
         51149 Cologne
         Germany


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


COMMSCOPE: Moody's Cuts Rating to Ba3 Pending Andrew Acquisition
----------------------------------------------------------------
Moody's Investors Service concluded its review of CommScope,
Inc. and downgraded the company's corporate family rating to Ba3
from Ba2 pending the company's debt financed acquisition of
Andrew Corp.

Additionally, Moody's downgraded the company's US$250 million
convertible subordinated debentures to B2 from Ba3.  The
acquisition will be financed by US$2.55 billion of senior
secured credit facilities to which Moody's has assigned Ba3
ratings.  The outlook is stable.

Moody's placed CommScope under review for downgrade on June 27,
2007 after the company's announcement of their intent to acquire
Andrew Corporation for US$2.6 billion.  The acquisition has been
approved by both company's boards but is still conditioned on
Andrew shareholder and regulatory approvals.

These ratings were downgraded:

   -- Corporate Family Rating -- to Ba3 from Ba2;

   -- Probability of Default Rating -- to Ba3 from Ba2;

   -- US$250 million Convertible Senior Subordinated Debentures
      due 2024 -- to B2, LGD6 (95%) from Ba3, LGD5 (73%).

These new ratings were assigned:

   -- US$250 million Senior Secured Revolving Credit Facility
      due 2013 -- Ba3, LGD3 (45%);

   -- US$2.3 billion Senior Secured Term Loan due 2014 -- Ba3,
      LGD3 (45%).

The company's Ba3 rating reflects the relatively high pro forma
leverage upon closing the acquisition, the risks associated with
integrating two companies roughly equal in size and the
cyclicality of the cable, telecommunications, and enterprise
connectivity markets.  The leverage and integration challenges
are reflective of a B1 rating however they are offset by the
strength of CommScope's and Andrew's respective market leading
positions, the diversity of the combined product portfolio,
management's track record of successful large integrations and
the potential synergies associated with the Andrew acquisition.
The ratings are however considered on the weaker end of the Ba3
ratings category.

The closing pro forma debt to EBITDA as adjusted by Moody's is
expected to be just under 5.0x, a level more common in B1 rated
component manufacturers.  The company is expected to de-lever
fairly quickly however through a combination of asset sales of
non-strategic assets and estimates of up to US$100 million in
annual cost savings from consolidating manufacturing and
distribution facilities and reducing duplicate operations.
Moody's also notes that Commscope's US$250 million in
convertible debt is heavily "in the money" and will likely
convert to equity in the next 18 months.  Moody's notes
management's past success in integrating the 2004 acquisition of
Avaya's Connectivity Solutions business and track record of
reducing leverage.  Moody's believes the company is capable of
reducing leverage to below 4.0x by the end of fiscal 2008.

The stable outlook reflects Moody's expectation that the company
will successfully integrate the Andrew acquisition and quickly
focus on improving cash flow and reducing debt.

The ratings could be positively impacted by success in
integrating Andrew and achieving synergy targets, continued
growth in revenue, EBITDA and free cash flow and reducing
leverage to below 3.5x.

CommScope's ratings may be negatively impacted by unexpected
challenges associated with the Andrew acquisition, greater than
expected increases in material costs, a severe downturn in
customer spending across segments, or an additional large debt
financed acquisition, share repurchase or dividend.

CommScope is a provider of cable and connectivity solutions for
enterprise, cable, and telecom industries.  The Company is
headquartered in Hickory, North Carolina.  CommScope has
facilities in Brazil, Australia, China and Ireland.


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


DANA CORP: Amends Centerbridge Capital Investment Agreement
-----------------------------------------------------------
Dana Corporation has entered into an amendment to an investment
agreement it reached with Centerbridge Capital Partners L.P., on
July 26, 2007.  Dana's board of directors has rejected an
alternative investment offer submitted by Appaloosa Management
L.P.

The original terms of the Centerbridge investment agreement
provided, for an affiliate of Centerbridge to purchase
US$250 million in convertible preferred shares of reorganized
Dana (Series A), and for qualified supporting creditors to have
an opportunity to purchase US$500 million in convertible
preferred shares (Series B) on a pro rata basis.

Centerbridge had agreed to purchase up to US$250 million of any
Series B shares that were not purchased by the creditors.

Among the amendments to the Centerbridge agreement are:

   -- A commitment by Centerbridge to fully underwrite the
      purchase of the US$500 million of Series B shares of
      reorganized Dana, an increase from the US$250 million that
      Centerbridge had agreed to underwrite.

   -- Centerbridge's consent to an amendment to Dana's proposed
      plan of reorganization to provide for a cash payment of
      up to US$40 million to certain general unsecured creditors
      who are not eligible to purchase Series B shares because
      their individual claims are less than US$25 million or
      they are not "qualified institutional investors" as
      defined in U.S. securities laws.

   -- Dana's agreement not to solicit or entertain any proposal
      for an investment, transaction, or plan of reorganization
      that would be an alternative to the Centerbridge
      investment and the elimination of Dana's right to
      terminate the Centerbridge investment agreement to accept
      any alternative investment or transaction proposal.

The amendment, which is subject to approval by the Bankruptcy
Court for the Southern District of New York, where the company's
Chapter 11 bankruptcy proceeding is pending, is required to be
approved by Nov. 15, 2007.

                  Appaloosa Management Proposal

In conjunction with the Bankruptcy Court's established
procedures for qualified potential investors interested in
exploring alternative proposals to the Centerbridge investment,
Appaloosa delivered an offer for an alternative investment to
Dana and the Official Committee of Unsecured Creditors on
Sept. 21, 2007.

As contemplated by the alternative proposal procedures, Dana's
board of directors reviewed and considered Appaloosa's offer.
After discussions among the parties and the various bankruptcy
constituents, Dana's board rejected Appaloosa's offer.

                     About Dana Corporation

Based in Toledo, Ohio Dana Corporation -- http://www.dana.com/
-- designs and manufactures products for every major vehicle
producer in the world, and supplies drivetrain, chassis,
structural, and engine technologies to those companies.  Dana
employs 46,000 people in 28 countries.  Dana is focused on being
an essential partner to automotive, commercial, and off-highway
vehicle customers, which collectively produce more than 60
million vehicles annually.

Dana has facilities in China in the Asia-Pacific, Argentina in
the Latin-American regions and Italy in Europe.

The company and its affiliates filed for chapter 11 protection
on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  As of
Sept. 30, 2005, the Debtors listed US$7,900,000,000 in total
assets and US$6,800,000,000 in total debts.

Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day,
in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq.,
Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in
Cleveland, Ohio, represent the Debtors.  Henry S. Miller at
Miller Buckfire & Co., LLC, serves as the Debtors' financial
advisor and investment banker.  Ted Stenger from AlixPartners
serves as Dana's Chief Restructuring Officer.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel
LLP, represents the Official Committee of Unsecured Creditors.
Fried, Frank, Harris, Shriver & Jacobson, LLP serves as counsel
to the Official Committee of Equity Security Holders.  Stahl
Cowen Crowley, LLC serves as counsel to the Official Committee
of Non-Union Retirees.

The Debtors filed their Joint Plan of Reorganization on
Aug. 31, 2007.  The Court has set a hearing on Oct. 23, 2007, to
consider the adequacy of the Disclosure Statement explaining the
Debtors' Plan.


IMAX CORPORATION: Catalyst Fund Withdraws New York Lawsuit
----------------------------------------------------------
IMAX Corporation last Thursday reported that Catalyst Fund
Limited Partnership II has withdrawn the lawsuit it filed
against IMAX in the New York State Supreme Court.

Catalyst was seeking to invalidate the consents the company
successfully received from a majority of its bondholders on
April 16, 2007 extending the deadline to file the company's
annual and other reports and waiving any existing defaults
arising from a failure to comply with the reporting covenant
under the indenture governing the Company's senior notes.

IMAX viewed the suit as entirely without merit and immediately
moved to dismiss the complaint when it was filed on May 10,
2007.  Catalyst then asked the Court for permission to withdraw
the suit, which was granted on Oct. 9, 2007.  In September,
Catalyst filed an application with the Superior Court for the
Province of Ontario to litigate substantially the same matter in
Canada.

IMAX is contesting that application as well, and similarly views
it to be without merit.

Catalyst unsuccessfully opposed the company's consent
solicitation and unsuccessfully attempted to trigger an event of
default under the company's senior notes indenture on numerous
occasions.  Most recently, Catalyst issued a purported notice of
default dated
Oct. 10, 2007.  The company believes it is in compliance with
the senior notes indenture and that Catalyst's claims are
without merit.

                     About IMAX Corporation

Based in New York City and Toronto, Canada, IMAX Corporation
(NASDAQ:IMAX; TSX:IMX) -- http://www.imax.com/-- is an
entertainment technology company, with emphasis on film and
digital imaging technologies including 3D, post-production and
digital projection.  IMAX is a fully-integrated, out-of-home
entertainment enterprise with activities ranging from the
design, leasing, marketing, maintenance, and operation of
IMAX(R) theatre systems to film development, production, post-
production and distribution of large-format films.  IMAX also
designs and manufactures cameras, projectors and consistently
commits significant funding to ongoing research and development.
IMAX has locations in Guatemala, India, Italy, among others.

At June 30, 2007, the company's balance sheet showed total
assets of US$220.2 million and total liabilities of US$284
million, resulting in a total shareholders' deficit of US$63.8
million.


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


BUSINESS ALSTROI: Proof of Claim Deadline Slated for Nov. 20
------------------------------------------------------------
LLP Business Alstroi has declared insolvency.  Creditors have
until Nov. 20 to submit written proofs of claims to:

         LLP Business Alstroi
         Azerbayev Str. 19
         Abai, Rayimbeksky
         Karasaisky District
         040923, Almaty
         Kazakhstan


DOS CREDO: Creditors Must File Claims November 21
-------------------------------------------------
The Tax Committee of Almaty has ordered the compulsory
liquidation of LLP Dos Credo (RNN 090400211329).

Creditors have until Nov. 21 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


FORUM TRADING: Claims Filing Period Ends November 20
----------------------------------------------------
LLP Forum Trading has declared insolvency.  Creditors have until
Nov. 20 to submit written proofs of claims to:

         LLP Forum Trading
         Panfilov Str. 111/87
         Jetysuksky District
         Almaty
         Kazakhstan


IMAN-TV LLP: Creditors' Claims Due on November 20
-------------------------------------------------
LLP Tele Company Iman-TV has declared insolvency.  Creditors
have until Nov. 20 to submit written proofs of claims to:

         LLP Tele Company Iman-TV
         Shkolnaya Str. 98
         Osakarovka
         Osakarovsky District
         Karaganda
         Kazakhstan


LIDER REALTY: Claims Registration Ends November 20
--------------------------------------------------
LLP Lider Realty has declared insolvency.  Creditors have until
Nov. 20 to submit written proofs of claims to:

         LLP Lider Realty
         Micro District Mamyr-7, 10-32
         Almaty
         Kazakhstan


MILK WAY: Proof of Claim Deadline Slated for November 21
--------------------------------------------------------
The Tax Committee of Almaty has ordered the compulsory
liquidation of LLP Milk Way (RNN 090400211992).

Creditors have until Nov. 21 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


PV SKB: Creditors Must File Claims November 16
----------------------------------------------
The Specialized Inter-Regional Economic Court of Pavlodar has
declared LLP PV SKB EK insolvent on July 12.

Creditors have until Nov. 16 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Pavlodar
         Elgin Str. 100
         Pavlodar
         Kazakhstan


SGKP KAINAR: Claims Filing Period Ends November 21
--------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan has declared LLP SGKP Kainar insolvent on Sept. 12.

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

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


SMART LLP: Creditors' Claims Due on November 21
-----------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan has declared LLP Smart insolvent on Sept. 12.

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

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


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


EVRAZ GROUP: Merging Units to Focus on Local Demand
---------------------------------------------------
Evraz Group S.A. wants its to-be-merged coking coal units to
concentrate on the domestic market, the Mining Journal reports
citing Chief Financial Officer Pavel Tatyanin.

Mr. Tatyanin told the Mining Journal that OAO Raspadskaya and
OAO Yuzhkuzbassugol will first tap the demand in Russia and
Ukraine and become the "dominant player in the region," adding
that the markets in China, Japan and South Korea are "less
promising."

Evraz is merging the units after fatal accidents occurred in
mines managed by Yuzhkuzbassugol.  Mr. Tatyanin, however, said
the merger may not be completed this year, the report says.

Yuzhkuzbassugol recently restarted operations at the Ulyanovsk
mine and will resume mining at its Yubileinaya site by the end
of October, the Mining Journal relates citing Evraz chief
executive Alexander Frolov.

According to the Mining Journal, the merger will be the world`s
third-largest coking coal producer.

                         About Evraz

Headquartered in Luxembourg, Evraz Group S.A. (LSE:EVR) --
http://www.evraz.com/-- manufactures and distributes steel and
related products.  In addition, the Company owns and operates
certain mining assets.  Its steel production and mining
facilities are mainly located in the Russian Federation.  It
operates three steel mills in Russia, one mill in the Sverdlovsk
region and two mills in the Kemerovo region.

                           *   *   *

As reported in the TCR-Europe on July 23, 2007, Fitch Ratings
affirmed Evraz Group S.A.'s Long-term Issuer Default and senior
unsecured ratings at 'BB' and its Short-term IDR at 'B'.

At the same time, Fitch has affirmed the ratings of Mastercroft
Ltd., a 100%-owned subsidiary of Evraz that controls the group's
Russia-based assets, at Long-term IDR 'BB' and Short- term IDR
'B'.  Evraz Securities S.A.'s senior unsecured rating is
affirmed at 'BB'.  The Outlooks on the Long-term IDRs are
Stable.

Evraz Group also carries a Ba3 Corporate Family Rating for Evraz
Group S.A. and a Ba3 Probability-of-Default Rating from Moody's
Investor Service.

Moody's also assigned these ratings:

* Issuer: Evraz Group S.A.

                                                    Projected
                         Old Debt New Debt LGD      Loss-Given
  Debt Issue             Rating   Rating   Rating   Default
  ----------             -------  -------  ------   -------

  8.25% Senior Unsecured
  Regular Bond/
  Debenture Due 2015      B2        B2      LGD5     88%

* Issuer: Evraz Securities S.A.

                         Old Debt New Debt LGD      Loss Given
  Debt Issue             Rating   Rating   Rating   Default
  ----------             -------  -------  ------   -------

  10.875% Senior Unsecured
  Regular Bond/
  Debenture Due 2009      B1       Ba3      LGD3     47%

In November 2006, Fitch Ratings affirmed Luxembourg-based Evraz
Group S.A.'s Issuer Default and senior unsecured ratings at BB
and its Short-term rating at B.

Standard & Poor's rated Evraz Group's 8-1/4% notes due November
2015 at B+.


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


BASHKIRSKIYE SEMIPRECIOUS: Creditors Must File Claims by Dec. 6
---------------------------------------------------------------
Creditors of Bashkirskiye Semiprecious Stones CJSC have until
Dec. 6 to submit their proofs of claim.

The Arbitration court of Bashkortostan commenced competitive
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. А
07-11407/07-Г-ШАБ.

The Competitive proceedings manager is:

         Minigulov B.S.
         Apartment 130
         Mendeleeva Str. 138
         Ufa
         450022 RB
         Russia

The Court is located at:

         The Arbitration Court of Bashkortostan
         Oktyabrskoy Revolyutsii Str. 63a
         Ufa
         Bashkortostan
         Russia


DALSVYAZ OAO: Fitch Upgrades IDR to B+ on Financial Improvements
----------------------------------------------------------------
Fitch Ratings has upgraded OAO Dalsvyaz's Long-term Issuer
Default rating to 'B+' from 'B'.  The Outlook for the Long-term
IDR remains Stable. Fitch has also affirmed Dalsvyaz's Short-
term IDR at 'B'.

"The upgrade reflects various operating and financial
improvements in the company," says Nikolay Lukashevich, Director
with Fitch's TMT team.  "Although Dasvyaz remains significantly
smaller than its peers, it is facing slightly better growth
prospects.  Also, its leverage is lower and cash flow generation
is stronger."

However, there remains uncertainty regarding whether the
achieved improvements are sustainable in the long-run due to
Dalsvyaz's obligation to service a huge territory with a low
population density.

The ratings reflect the company's strong market position as the
incumbent provider of fixed-line telephony services in the
eastern-most region of Russia.  Dalsvyaz has the most developed
backbone network and last-mile infrastructure in the region, and
continues to dominate in the major segments of local and zonal
telephony, and long-distance interconnect.  Fitch acknowledges
that the company's client base is well diversified, and that
cash flow is stable and visible. Competition is limited due to a
lack of alternative infrastructure.

The company's competitive positions are exceptionally strong in
the residential segment, while its intense efforts to win back
corporate accounts should increase its share of the business
segment.  The regional fixed-line market is close to saturation
and is likely to post moderate net disconnections in the near
future on the back of mobile substitution and population
outflow. The traditional revenues will, nevertheless, be
supported by gradual tariff increases, likely to be below
inflation.

The company has benefited from benign regulatory changes,
introduced in February 2007, that effectively removed tariff
caps, allowed for better customer segmentation and helped to
notably improve profitability of local service.  Furthermore,
the introduction of the calling-party-pays rule in July 2006
brought in additional revenues.  Dalsvyaz has realized
considerable cost savings, and further efficiency improvements
are planned which should help to defend and increase its
margins.  The company has demonstrated a strong improvement in
its financial performance, catching up and beating most of its
domestic peers.  This achievement should be credited to the
company's management team, which Fitch views as professional and
efficient. Data revenue, mostly internet-related, is rapidly
growing on the back of a rapidly increasing ADSL subscriber base
and, with a 15.4% share of the total, is starting to provide
material diversification away from traditional voice segments.

The company is a clear leader in the broadband segment, with
estimated market share of 85%, which is likely to grow as it is
building more broadband capacity that its rivals together.
Although Dalsvyaz is under regulatory pressure to accelerate
fixed-network modernization capex, it is facing a lower over-
investment risk than its peers, reflective of its higher than
average last-mile digitalization rate (69% at end-2006).
Consolidation of Sakhatelecom, acquired by Dalsvyaz at end-2006,
seems to be well on track with management's targets to turn
around financial performance of this subsidiary.

The company's leverage is not excessive (1.8x of ND/EBITDA at
end-2006) and is projected to improve at end-2007; in the long-
run it is likely to be capped at 2x.  Dalsvyaz significantly
improved its debt maturity profile over the 18 months to first
half of 2007, with the proportion of short-term debt declining
to 28% from 60% at end-2005.

The ratings also reflect the influence of the company's majority
shareholder, Svyazinvest, on strategic decision-making, and its
potential lobbying support.


DYURTYULINSKOYE OJSC: Asset Sale Slated for November 9
------------------------------------------------------
The Competitive proccedings manager of Feed Factory
Dyurtyulinskoye OJSC will open a public auction for the
company's properties at noon on Nov. 9 at:

         Bessonova Str. 2B
         Ufa
         450001 RB
         Russia

The company has set a RUR7,068,240 starting price for the
auctioned assets.

Interested participants have until Oct. 31 to deposit an amount
equivalent to 10% of the starting price to:

         Auction-Guarantee LLC
         Settlement Account 40702810504000001194
         Correspondent Account 30101810000000000891
         InvestCapitalBank OJSC
         Taxpayer ID 0277072319

Bidding documents must be submitted to:

         Bessonova Str. 2B
         Ufa
         450001 RB
         Russia
         Tel: 8(347) 223-84-01

The Debtor can be reached at:

         Feed Factory Dyurtyulinskoye OJSC
         International Str. 4/1
         Dyurtyuli
         Dyurtyulinskij Raion
         452320 RB
         Russia


EVRAZ GROUP: Merging Units to Focus on Local Demand
---------------------------------------------------
Evraz Group S.A. wants its to-be-merged coking coal units to
concentrate on the domestic market, the Mining Journal reports
citing Chief Financial Officer Pavel Tatyanin.

Mr. Tatyanin told the Mining Journal that OAO Raspadskaya and
OAO Yuzhkuzbassugol will first tap the demand in Russia and
Ukraine and become the "dominant player in the region," adding
that the markets in China, Japan and South Korea are "less
promising."

Evraz is merging the units after fatal accidents occurred in
mines managed by Yuzhkuzbassugol.  Mr. Tatyanin, however, said
the merger may not be completed this year, the report says.

Yuzhkuzbassugol recently restarted operations at the Ulyanovsk
mine and will resume mining at its Yubileinaya site by the end
of October, the Mining Journal relates citing Evraz chief
executive Alexander Frolov.

According to the Mining Journal, the merger will be the world`s
third-largest coking coal producer.

                         About Evraz

Headquartered in Luxembourg, Evraz Group S.A. (LSE:EVR) --
http://www.evraz.com/-- manufactures and distributes steel and
related products.  In addition, the Company owns and operates
certain mining assets.  Its steel production and mining
facilities are mainly located in the Russian Federation.  It
operates three steel mills in Russia, one mill in the Sverdlovsk
region and two mills in the Kemerovo region.

                           *   *   *

As reported in the TCR-Europe on July 23, 2007, Fitch Ratings
affirmed Evraz Group S.A.'s Long-term Issuer Default and senior
unsecured ratings at 'BB' and its Short-term IDR at 'B'.

At the same time, Fitch has affirmed the ratings of Mastercroft
Ltd., a 100%-owned subsidiary of Evraz that controls the group's
Russia-based assets, at Long-term IDR 'BB' and Short- term IDR
'B'.  Evraz Securities S.A.'s senior unsecured rating is
affirmed at 'BB'.  The Outlooks on the Long-term IDRs are
Stable.

Evraz Group also carries a Ba3 Corporate Family Rating for Evraz
Group S.A. and a Ba3 Probability-of-Default Rating from Moody's
Investor Service.

Moody's also assigned these ratings:

* Issuer: Evraz Group S.A.

                                                    Projected
                         Old Debt New Debt LGD      Loss-Given
  Debt Issue             Rating   Rating   Rating   Default
  ----------             -------  -------  ------   -------

  8.25% Senior Unsecured
  Regular Bond/
  Debenture Due 2015      B2        B2      LGD5     88%

* Issuer: Evraz Securities S.A.

                         Old Debt New Debt LGD      Loss Given
  Debt Issue             Rating   Rating   Rating   Default
  ----------             -------  -------  ------   -------

  10.875% Senior Unsecured
  Regular Bond/
  Debenture Due 2009      B1       Ba3      LGD3     47%

In November 2006, Fitch Ratings affirmed Luxembourg-based Evraz
Group S.A.'s Issuer Default and senior unsecured ratings at BB
and its Short-term rating at B.

Standard & Poor's rated Evraz Group's 8-1/4% notes due November
2015 at B+.


GORNAYA: Creditors Must File Claims by December 6
-------------------------------------------------
Creditors of Miners' Artel Gornaya have until Dec. 6 to submit
their proofs of claim.

The Arbitration court of Bashkortostan commenced competitive
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. 07-11408/07-Г-ШАБ.

The Competitive proceedings manager is:

         Minigulov B.S.
         Apartment 130
         Mendeleeva Str. 138
         Ufa
         450022 RB
         Russia

The Court is located at:

         The Arbitration Court of Bashkortostan
         Oktyabrskoy Revolyutsii Str. 63a
         Ufa
         Bashkortostan
         Russia


IMPRO CJSC: Creditors Must File Claims by December 6
----------------------------------------------------
Creditors of Impro CJSC have until Dec. 6 to submit proofs of
claim at:

         Dauta Yultya 3-70
         г. Ufa
         450081 RB
         Russia

The Arbitration court of Republic of Bashkortostan declared the
company as insolvent on Sept. 24.  The Court appointed Gelivanov
R.R. as Competitive proceedings manager.  The case is docketed
under Case No. А07-13217/07-Г-ГРА.

The Court is located at:

         The Arbitration Court of Bashkortostan
         Oktyabrskoy Revolyutsii Str. 63a
         Ufa
         Bashkortostan
         Russia

The Debtor can be reached at:

         Impro CJSC
         Mendeleeva Str. 134
         Ufa
         Bashkortostan
         Russia


LENINA SOVKHOZ* PAC*: Creditors Must File Claims by Nov. 6
----------------------------------------------------------
Creidtors of Lenina Sovkhoz* PAC* have until Nov. 6 to submit
proofs of claim at:

         POB 55
         Baimak
         453630 RB
         Russia

The Arbitration court of Bashkortostan commenced one-year
competitive proceedings on the company.  The Court appointed
Abubakirov R.R. as Competitive proceedings manager.  The case is
docketed under Case No. А07-2415/07-Г-ФЛЕ.

The Court is located at:

         The Arbitration Court of Bashkortostan
         Oktyabrskoy Revolyutsii Str. 63a
         Ufa
         Bashkortostan
         Russia

The Debtor can be reached at:

         Abubakirov R.R.
         Tavlykaevo Settlement
         Baimakskij Raion
         RB
         Russia


MECHETLINSKIJ STROITEL': Creditors Must File Claims by Nov. 6
-------------------------------------------------------------
Creditors of Mechetlinskij Stroitel' OJSC have until Nov. 6 to
submit proofs of claim at:

         POB 95
         Ufa
         450081 RB
         Russia

The Arbitration court of Bashkortostan will convene at 11:00
a.m. on Nov. 22 to hear the company's bankruptcy supervision
procedure.  The Court appointed Kamaev S.V. as Interim Manager.
The case is docketed under Case No.
А07-25773/06-Г-ГРА.

The Court is located at:

         The Arbitration Court of Bashkortostan
         Oktyabrskoy Revolyutsii Str. 63a
         Ufa
         Bashkortostan
         Russia

The Debtor can be reached at:

         Mechetlinskij Stroitel' OJSC
         Mechetlinskij Raion
         RB
         Russia


MK VITYAZ' & VITYAZ'-TRANS: Asset Sale Slated for Oct. 28
---------------------------------------------------------
The Competitive proceedings manager of Vityaz' OJSC has
established a repeated open auction sale of the stock of MK
Vityaz' OJSC and Vityaz'-Trans OJSC at 3:00 p.m. on Oct. 28.

The starting price for the auctioned assets:

   -- Lot1 - starting price for 100% stock of MK Vityaz' OJSC
      is RUR1,927,655.

   -- Lot2 - starting price for 100% stock of  Vityaz'-Trans
      OJSC is RUR132,385.

Bidding documents must be submitted to:

         Vityaz' OJSC Yusupov A.M.
         Industrical Shosse 2
         Ishimbai
         53203 RB
         Russia
         Tel: 8(34794) 2-47-87


MPO TOIR: Bidding Deadline Slated for October 31
------------------------------------------------
Bekshenev F.Sh., Competitve proceedings manager of MPO Toir LLC
will open a public auction for the company's properties.

The company has set a RUR15 million starting price for the
auctioned assets.

Interested participants have until 5 p.m. on Oct. 31 to submit
their bidding documents at:

         Block 3
         Gagarina Str. 1
         Tyumen'
         Russia
         Tel: 8(3452) 63-15-12


MUE* RB*: Bankruptcy Hearing Slated for Feb. 13, 2008
-----------------------------------------------------
The Arbitration court of Bashkortostan will convene on Feb. 13,
2008 to hear the bankruptcy supervision procedure on Birskiye
Heating Systems MUE* RB*.  The case is docketed under Case
No. А07-12844/07.

The Interim Manager is:

         Satyev I.V.
         Mendeleeva Str. 201/2
         Ufa
         450071 RB
         Russia

The Court is located at:

         The Arbitration Court of Bashkortostan
         Oktyabrskoy Revolyutsii Str. 63a
         Ufa
         Bashkortostan
         Russia

The Debtor can be reached at:

         Birskiye Heating Systems MUE* RB*
         Mira Str. 135
         Birsk
         452451 RB
         Russia


OILMASH OJSC: Asset Sale Slated for November 12
-----------------------------------------------
The Competitve proceedings manager of October Factory Oilmash
OJSC will open a public auction for the company's properties at
3:00 p.m. on Nov. 12 at:

         2B
         Bessonova
         450001 RB
         Russia

The company has set a RUR274,000 starting price for the
auctioned assets.

Interested participants have until Nov. 6 to deposit an amount
equivalent to 15% of the starting price to:

         October Factory Oilmash OJSC
         Settlement Account 40702810906000104870
         Correspondent Account 30101810300000000601
         SberBank 8598
         Bashkirskij Branch
         Ufa
         Russia

Bidding documents must be submitted to:

         2B
         Bessonova
         450001 RB
         Russia
         Tel: (347) 223-84-01


RUSSIAN STANDARD: Moody's Changes Rating Outlook to Negative
------------------------------------------------------------
Moody's Investors Service changed the outlook on these global
scale ratings of Russian Standard Bank to negative from stable:

   -- D bank financial strength rating;
   -- Ba2 long-term local and foreign currency deposit ratings;
   -- Ba2 long-term senior unsecured; and
   -- Ba3 long-term subordinated debt ratings.

The outlook on the bank's Not Prime short-term local and foreign
currency deposit ratings remains stable.  Moody's Interfax
Rating Agency affirmed the bank's Aa2.ru long-term national
scale rating.  Moscow-based Moody's Interfax is majority-owned
by Moody's, a leading global rating agency.

According to Moody's, the change in RSB's rating outlook was
prompted by its weakened liquidity position, reflected in the
bank's increased vulnerability to capital market sentiment as a
result of the recent credit crunch and the depletion of a
significant amount of liquid assets in third quarter 2007
following the repayment of its maturing market borrowings.

Moody's recognizes that, although RSB reported very strong
positive liquidity gaps for short-term maturity periods as of
end-1H 2007, most of the loans with a short-term maturity are
credit card and point-of-sale loan repayments, with borrowers
able to reuse the cards within already approved limits once the
repayments have been made.  Although RSB can cancel limits or
demand repayment in full to support its liquidity position, such
decision would, in Moody's view, be likely to have a negative
impact on the bank's business franchise.

Furthermore, RSB recently announced that it would cease charging
a number of commissions and fees for its consumer loans, which,
in Moody's opinion, places pressure on the bank's profitability
and internal cash-generating capacity.  In 2H 2007 RSB
implemented stricter origination procedures which, according to
the bank, will partly offset the tightening in interest margins
through a decrease in credit costs.  However, while RSB's
profitability is likely to decline significantly going forward,
it is still expected to be strong relative to the bank's Russian
peers thanks to its extensive customer base in the Russian
consumer finance segment, relatively high margins and overall
efficient management.

Moody's also cautions that, in the event that RSB has limited
access to international credit markets for a prolonged period,
this could negatively affect its loan expansion and consequently
erode the bank's franchise value.

The rating agency will continue to monitor RSB's
creditworthiness closely and take appropriate rating actions
based on further developments.  An inability to attract
relatively long-term and more diversified funding to enhance its
liquidity position and maintain its currently strong franchise
could increase the negative pressure on RSB's creditworthiness
and result in a downgrade of its ratings.

Conversely, improved liquidity and a more diversified funding
structure could, if coupled with sustainable and strong earnings
generated under new lending conditions, improve the bank's
credit quality and result in Moody's changing the rating outlook
back to stable.

Headquartered in Moscow, Russian Standard Bank reported total
IFRS consolidated assets of US$7.9 billion and net income of
US$395 million as of end-1H 2007.


URAL BUSINESS: Creditors Must File Claims by Dec. 6
---------------------------------------------------
Creditors of Ural Business LLC have until Dec. 6 to submit their
proofs of claim.

The Arbitration court of Bashkortostan commenced competitive
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. А
07-13726/07-Г-ХРМ.

The Competitive proceedings manager is:

         Minigulov B.S.
         Apartment 130
         Mendeleeva Str. 138
         Ufa
         450022 RB
         Russia

The Court is located at:

         The Arbitration Court of Bashkortostan
         Oktyabrskoy Revolyutsii Str. 63a
         Ufa
         Bashkortostan
         Russia


URALCHEMPRODUCT CJSC: Creditors Must File Claims by Dec. 6
----------------------------------------------------------
Creditors of UralChemProduct CJSC have until Dec. 6 to submit
their proofs of claim.

The Arbitration court of Bashkortostan commenced competitive
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. А 07-13730
Г-ХРМ.

The Competitive proceedings manager is:

         Minigulov B.S.
         Apartment 130
         Mendeleeva Str. 138
         Ufa
         450022 RB
         Russia

The Court is located at:

         The Arbitration Court of Bashkortostan
         Oktyabrskoy Revolyutsii Str. 63a
         Ufa
         Bashkortostan
         Russia


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


CABALLERO FM: Claims Registration Period Ends October 21
--------------------------------------------------------
The Bankruptcy Court of Winterthur in Zurich commenced
bankruptcy proceedings against Caballero FM & Co. on Aug. 9.

Creditors have until Oct. 21 to file their written proofs of
claim.

The Bankruptcy Service of Winterthur can be reached at:

         Bankruptcy Service of Winterthur
         8401 Winterthur ZH
         Switzerland

The Debtor can be reached at:

         Caballero FM & Co.
         Grenzstr. 29
         8406 Winterthur ZH
         Switzerland


DENTALWEB LLC: Creditors' Liquidation Claims Due October 22
-----------------------------------------------------------
Creditors of LLC DentalWeb have until Oct. 22 to submit their
claims to:

         Andre Rubin
         Liquidator
         Weidstr. 5a
         5453 Remetschwil
         Baden AG
         Switzerland

The Debtor can be reached at:

         LLC DentalWeb
         Bulach ZH
         Switzerland


FINSERVE JSC: Creditors' Liquidation Claims Due October 22
----------------------------------------------------------
Creditors of JSC Finserve have until Oct. 22 to submit their
claims to:

         Stefan Brandle
         Liquidator
         Cantonal Bank of Zurich
         Bahnhofstrasse 9
         8010 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Finserve
         Zurich
         Switzerland


JOERGENSEN ASSOCIATED: Creditors' Liquidation Claims Due Oct. 24
----------------------------------------------------------------
Creditors of JSC Joergensen Associated have until Oct. 24 to
submit their claims to:

         Seestrasse 95
         6047 Kastanienbaum
         Switzerland

The Debtor can be reached at:

         JSC Joergensen Associated
         Horw LU
         Switzerland


KEMMOR JSC: Creditors' Liquidation Claims Due October 22
--------------------------------------------------------
Creditors of JSC Kemmor have until Oct. 22 to submit their
claims to:

         Julian Cammann
         Liquidator
         Alpenstrasse 8
         6390 Engelberg OW
         Switzerland

The Debtor can be reached at:

         JSC Kemmor
         Hergiswil NW
         Switzerland


KMK KARL: Creditors' Liquidation Claims Due October 24
------------------------------------------------------
Creditors of JSC KMK Karl Magerle Lizenz have until Oct. 24 to
submit their claims to:

         Treuhand und Revisionsgesellschaft Zug
         Baarerstrasse 112
         6302 Zug
         Switzerland

The Debtor can be reached at:

         JSC KMK Karl Magerle Lizenz
         Zug
         Switzerland


PANNEKUK HOLDING: Zug Court Starts Bankruptcy Proceedings
---------------------------------------------------------
The Bankruptcy Court of Zug commenced bankruptcy proceedings
against JSC Pannekuk Holding on Sept. 4.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC Pannekuk Holding
         Alte Steinhauserstrasse 19
         6330 Cham ZG
         Switzerland


PAR-JEW JSC: Creditors' Liquidation Claims Due October 22
---------------------------------------------------------
Creditors of JSC Par-Jew have until Oct. 22 to submit their
claims to:

         Poststrasse 6
         6301 Zug
         Switzerland

The Debtor can be reached at:

         JSC Par-Jew
         Zug
         Switzerland


PETER & CO: Creditors' Liquidation Claims Due October 24
--------------------------------------------------------
Creditors of JSC Peter & Co have until Oct. 24 to submit their
claims to:

         Hans-Martin Peter
         Liquidator
         Wotanstrasse 8
         8032 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Peter & Co
         Zurich
         Switzerland


PROPACK ASIA: Creditors' Liquidation Claims Due October 24
----------------------------------------------------------
Creditors of Propack Asia Ltd have until Oct. 24 to submit their
claims to:

         Treuhand und Revisionsgesellschaft Zug
         Liquidator
         Baarerstrasse 112
         6302 Zug
         Switzerland

The Debtor can be reached at:

         Propack Asia Ltd
         Zug
         Switzerland


SANITARFIX SUISSE: Claims Registration Period Ends October 22
-------------------------------------------------------------
The Bankruptcy Court of Wallisellen in Zurich commenced
bankruptcy proceedings against JSC Sanitarfix Suisse on July 18.

Creditors have until Oct. 22 to file their written proofs of
claim.

The Bankruptcy Service of Wallisellen can be reached at:

         Bankruptcy Service of Wallisellen
         8304 Wallisellen
         Bulach ZH
         Switzerland

The Debtor can be reached at:

         JSC Sanitarfix Suisse
         Gewerbehallenstr. 4
         8304 Wallisellen
         Bulach ZH
         Switzerland


SOCIETE ANONYME: Creditors' Liquidation Claims Due October 31
-------------------------------------------------------------
Creditors of JSC Societe Anonyme Austrim have until Oct. 31 to
submit their claims to:

         JSC Centrapriv Zurich
         Liquidator
         Stauffacherquai 44
         8036 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Societe Anonyme Austrim
         Zurich
         Switzerland


STC SAFETRADE: Creditors' Liquidation Claims Due October 22
-----------------------------------------------------------
Creditors of STC SafeTrade Consulting Ltd have until Oct. 22 to
submit their claims to:

         Bundesstrasse 7
         6300 Zug
         Switzerland

The Debtor can be reached at:

         STC SafeTrade Consulting Ltd
         Zug
         Switzerland


TIGON JSC: Zug Court Starts Bankruptcy Proceedings
--------------------------------------------------
The Bankruptcy Court of Zug commenced bankruptcy proceedings
against JSC Tigon on Aug. 28.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC Tigon
         Im Dorfli 16
         6313 Menzingen ZG
         Switzerland


WIKIM JSC: Creditors' Liquidation Claims Due October 24
-------------------------------------------------------
Creditors of JSC Wikim have until Oct. 24 to submit their claims
to:

         Ernst Wiedmer
         Liquidator
         Schoneggrain 18
         Postfach 21
         2540 Grenchen
         Lebern SO
         Switzerland

The Debtor can be reached at:

         JSC Wikim
         Grenchen
         Lebern SO
         Switzerland


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


BUSINESS-PARTNER LLC: Creditors Must File Claims by October 17
--------------------------------------------------------------
Creditors of LLC Production-Commerce Firm Business-Partner (code
EDRPOU 25582836) have until Oct. 17 to submit their proofs of
claim to:

         The Economic Court of Cherkassy
         Shevchenko Avenue 307
         18005 Cherkassy
         Ukraine

The Economic Court of Cherkassy commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
under docketed Case No. 14/1698.

The Debtor can be reached at:

         LLC Production-Commerce Firm Business-Partner
         Khomenko Str. 14
         Cherkassy
         Ukraine


HEAT TECHNICIAN: Creditors Must File Claims by October 17
---------------------------------------------------------
Creditors of Commune Enterprise Heat Technician (code EDRPOU
32889215) have until Oct. 17 to submit their 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 under docketed Case No. 21/234/07.

The Debtor can be reached at:

         Commune Enterprise Heat Technician
         Lenin Str. 107
         Molochansk
         71716 Zaporozhje
         Ukraine


OBRIY OJSC: Creditors Must File Claims by October 17
----------------------------------------------------
Creditors of OJSC Obriy (code EDRPOU 14253495) have until
Oct. 17 to submit their proofs of claim to:

The Court is located at:

         The Economic Court of Chernigov
         Mir Avenue 20
         14000 Chernigov
         Ukraine

The Economic Court of Chernigov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
under docketed Case No. 4/238b.

The Court is located at:

         The Economic Court of Chernigov
         Mir Avenue 20
         14000 Chernigov
         Ukraine

The Debtor can be reached at:

         OJSC Obriy
         Snovianka
         15332 Chernigov
         Ukraine


RAMITA OJSC: Proofs of Claim Deadline Set October 17
----------------------------------------------------
Creditors of OJSC Ramita (code EDRPOU 03062384) have until
Oct. 17 to submit their proofs of claim to:

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

The Economic Court of Zaporozhje commenced bankruptcy
supervision procedure on the company.  The case is under
docketed Case No. 16/213/07.

The Debtor can be reached at:

         OJSC Ramita
         Tsentralny Boulevard 3
         69005 Zaporozhje
         Ukraine


REPUBLICAN MANAGEMENT: Creditors Must File Claims by October 17
---------------------------------------------------------------
Creditors of LLC Diversified Firm Republican Management on
Mechanization of Road Building (code EDRPOU 05422912) have until
Oct. 17 to submit their proofs of claim to:

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

The Economic Court of Kyiv commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
under docketed Case No. 15/532-b.

The Debtor can be reached at:

         LLC Diversified Firm Republican Management on
         Mechanization of Road Building
         Bakinskiye Komissary Str. 8-A
         02090 Kiev
         Ukraine


SVET: Creditors Must File Claims by October 17
----------------------------------------------
Creditors of Small Production Joint Enterprise Svet (code EDRPOU
13324885) have until Oct. 17 to submit their proofs of claim to:

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

The Economic Court of Vinnica commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
under docketed Case No. 5/390-07.

The Debtor can be reached at:

         Small Production Joint Enterprise Svet
         Zhmerinka, Barliaev Str. 19
         Vinnica
         Ukraine


TERMINAL LLC: Proofs of Claim Deadline Set October 17
-----------------------------------------------------
Creditors of LLC Science-Production Enterprise Terminal (code
EDRPOU 20396000) have until Oct. 17 to submit their proofs of
claim to:

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

The Economic Court of Donetsk commenced bankruptcy supervision
procedure on the company.  The case is under docketed Case No.
45/64B.

The Debtor can be reached at:

         LLC Science-Production Enterprise Terminal
         October Str. 47/2
         Khartsyzsk
         86700 Donetsk
         Ukraine


TRAYMAX-DNIPRO LLC: Creditors Must File Claims by October 17
------------------------------------------------------------
Creditors of LLC Traymax-Dnipro (code EDRPOU 32570979) have
until Oct. 17 to submit their proofs of claim to:

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

The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is under docketed Case No. B 15/40/123-06.

The Debtor can be reached at:

         LLC Traymax-Dnipro
         Newspaper Pravda Avenue 29
         49000 Dnipropetrovsk
         Ukraine



UKRAINIAN LIGHT: Creditors Must File Claims by October 17
---------------------------------------------------------
Creditors of LLC Ukrainian Light Industry (code EDRPOU 34392131)
have until Oct. 17 to submit their 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
under docketed Case No. B-39/155-07.

The Debtor can be reached at:

         LLC Ukrainian Light Industry
         Zolochevskaya Str. 21
         61177 Kharkov
         Ukraine


ZHMERINKA FOOTBALL: Creditors Must File Claims by October 17
------------------------------------------------------------
Creditors of Football Club Zhmerinka (code EDRPOU 21727060) have
until Oct. 17 to submit their proofs of claim to:

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

The Economic Court of Vinnica commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
under docketed Case No. 10/183-07.

The Debtor can be reached at:

         Football Club Zhmerinka
         B. Hmelnitsky Str. 4
         Zhmerinka
         Vinnica
         Ukraine


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


AQUARIUS DRINKS: Taps Joint Administrators from Begbies Traynor
---------------------------------------------------------------
Paul Stanley and Stephen L. Conn of Begbies Traynor were
appointed joint administrators of Aquarius Drinks Ltd. (Company
Number 03045517) on Oct. 2.

Begbies Traynor -- http://www.begbies.com/-- assists companies,
creditors, financial institutions and individuals on all aspects
of financial restructuring and corporate recovery.

The company can be reached at:

         Aquarius Drinks Ltd.
         Churnetside Business Park
         Harrison Way
         Cheddleton
         Leek
         ST13 7EF
         England
         Tel: 01538 361 668


COLLINS & AIKMAN: Closes Sale of Soft Trim Division to IAC NA
-------------------------------------------------------------
Collins & Aikman Corp. completed the sale of its soft trim
division to International Automotive Components Group North
America.

As reported in the Troubled Company Reporter on April 23, 2007,
C&A signed an asset purchase agreement with IAC NA for the sale
of its North American automotive flooring and acoustic
components business.  The Agreement provides for aggregate
consideration to the company of $134 million in cash, plus
certain contingent consideration and certain assumed
liabilities.  The Agreement also provides an opportunity for the
Company's senior, secured prepetition lenders to invest in IAC
NA's parent company up to an aggregate cap of 25% of IAC NA's
outstanding stock.

"These strategic acquisitions enable IAC NA to strengthen our
product portfolio, increase our technical competencies and
improve our ability to meet our customers' needs," Jim
Kamsickas, president and CEO of IAC NA, said.  "We look forward
to integrating the talented C&A employees into our organization
as we move forward to further improve our business."

The acquisition of C&A's soft trim division includes sixteen
facilities in North America that manufacture carpeting, molded
flooring products, dash insulators and other related interior
components.  Additionally, the acquisition includes a noise,
vibration and harshness technical center.  The C&A division had
3,900 employees.

"We have been trying to buy these operations ever since C&A
filed for bankruptcy because strategically they give us a major
position in the automotive carpet and acoustics sector and
strengthen our Mexican manufacturing base," IAC NA Chairman
Wilbur Ross said.

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 $3,196,700,000 in total assets and
$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.


CONNEXXION UK: Brings In Vantis as Joint Administrators
-------------------------------------------------------
Geoffrey Paul Rowley and Nicholas Hugh O’Reilly of Vantis Plc
were appointed joint administrators of Connexxion U.K. Ltd.
(Company Number 03830323) on Oct. 2.

Headquartered in United Kingdom, Vantis Plc (fka Vantis
Numerica) -- http://www.vantisplc.com/-- provides accounting,
business and tax advisory services in the United Kingdom.

The company can be reached at:

         Connexxion U.K. Ltd.
         Unit 1 2
         Roseheyworth Business Park
         Abertillery
         NP13 1SP
         Wales
         Tel: 01495 320 989
         Fax: 01495 320 466


FORD MOTOR: Names Jim Farley VP of Marketing & Communications
-------------------------------------------------------------
Ford Motor Company President and Chief Executive Officer Alan
Mulally has named Jim Farley as Group Vice President of
Marketing and Communications.

Beginning in mid-November 2007, Mr. Farley, will lead Ford's
drive to connect even more closely with customers through
integrated global marketing, advertising, digital
communications, brand development, product planning, research,
product communications and public relations.  The Chief
Marketing Office and global Communications staffs report to Mr.
Farley.

"We are thrilled to welcome one of the most successful and
talented leaders in the industry to the Ford Motor Company
team," Mr. Mulally said.  "Jim Farley is well known for
innovative marketing strategies that connect great products to
today's and tomorrow's customers.  Ford's quality and vehicles
are now on par with the best of the competition.  We look
forward to Jim's leadership to combine world-class marketing
with our world-class products worldwide."

Mr. Farley will be the company's most senior marketing leader
and will report directly to Mr. Mulally.

Mr. Farley said he is passionate about joining Ford in this
global leadership role and is eager to help lead the company's
transformation plan toward automotive leadership and profitable
growth.

"My connection with Ford goes way back to my first car, a 1966
Ford Mustang.  I bought it when I was 15, restored it and drove
it from California to Michigan.  I am excited to make that trip
once again," Mr. Farley said.  "Ford is one of the world's most
admired companies because of its ability to develop iconic
products that connect with customers.  I look forward to
building on that strength by engaging customers and introducing
even more of them to the great family of Ford."

Prior to joining Ford, Mr. Farley was Group Vice President and
General Manager of Lexus, responsible for all sales, marketing
and customer satisfaction activities for Toyota's luxury brand.
Before leading Lexus, Mr. Farley served as group vice president
of Toyota Division marketing and was responsible for all Toyota
Division market planning, advertising, merchandising, sales
promotion, incentives and Internet activities.  Mr. Farley
joined Toyota in 1990 in the strategic-planning department.  He
served in several product and marketing positions, including
Lexus product planner, manager of Toyota truck product planning,
manager of the Toyota truck series team marketing and national
advertising manager.  He also was general manager of product
management for Toyota Europe.

One of Mr. Farley's most noted accomplishments is his
responsibility for the successful launch and rollout of Toyota's
new Scion brand.  As Scion corporate manager, Mr. Farley focused
on product development, sales planning, customer services,
logistics and distribution.  He later was promoted to vice
president of Scion and was responsible for all Scion activities.

Mr. Farley attended Georgetown University in Washington, D.C.,
where he earned a bachelor's degree in economics and computer
science, and the University of California, Los Angeles (UCLA),
where he completed his MBA with a focus in finance.

Mr. Farley and his wife, Lia, and their two children will be
moving to the Detroit area.

                       About Ford Motor

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

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

                        *     *     *

As reported in the Troubled Company Reporter on July 30, 2007,
Moody's Investors Service said that the performance of Ford
Motor Company's global automotive operations for the second
quarter of 2007 was significantly stronger than the previous
year and better than street expectations.

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

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

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


GENERAL MOTORS: Provides Overview of National Agreement w/ UAW
--------------------------------------------------------------
General Motors Corp. officials presented an overview of the 2007
GM-UAW Labor Agreement, addresses UAW-related retiree health
care obligations totaling $46.7 billion.

As reported in the Troubled Company Reporter on Oct. 11, 2007,
GM confirmed that its UAW-represented employees have ratified
the GM-UAW 2007 national labor agreement, which GM and the UAW
reached on Sept. 26, 2007, after more than two months of
bargaining.  The new four-year agreement covers approximately
74,000 hourly employees located in more than 80 U.S. facilities.

              2007 Retiree Health Care Overview

GM and the United Auto Workers union agree that responsibility
for retiree health care will permanently shift from GM to a new
retiree plan funded by a new Independent Voluntary Employee
Beneficiary Association or VEBA.

The retiree health care incorporates 2005 Health Care Agreement
and its implementation will be later of Jan. 1, 2010, or date on
which any appeals or challenges to court approval are exhausted.

The agreement ensures UAW may not negotiate to increase GM
funding or otherwise seek to obligate GM to:

   * provide any additional contributions to the Independent
     VEBA;

   * make any other payments for the purpose of providing
     retiree medical benefits;

   * provide retiree medical benefits through any other means.

New retiree health care agreement and VEBA will cover:

   * All retirees as of Sept. 14, 2007;

   * Active UAW-represented employees with seniority as of
     Sept. 14, 2007;

   * UAW Delphi retirees and actives covered under GM-UAW-
     Delphi restructuring plan (approximately 12,000 people);

   * UAW retirees and actives of closed or divested GM-UAW
     business units (to the extent GM has responsibility for
     their health care);

   * New hires not included in Independent VEBA and not offered
     defined benefit postretirement health care;

   * GM and UAW agreed on funding Independent VEBA based on
     various key assumptions;

     -- Asset returns of 9% annually, with risk borne by VEBA

     -- Ultimate health care trend rate of 5% annually, with
        risk borne by VEBA

     -- Incorporation of 2005 Health Care Agreement wage/COLA
        diversions

     -- Standard actuarial assumptions

GM's financial summary of the new agreement includes:

   * belief that the new labor agreement significantly reduces
     GM’s manufacturing cost gap to competitors;

   * current VEBA and well-funded pension plan provide
     flexibility to fulfill obligations within contract;

   * independent VEBA transfers responsibility and risk
     associated with future UAW retiree health care costs away
     from GM starting in 2010;

   * new contract and labor demographics provide opportunity
     for significant, operating-related, positive cash flow and
     earnings;

     -– will work with UAW leadership to determine appropriate
        ways to implement sourcing agreements and transition
        non-core portion of workforce.

A full-text copy of the 2007 GM-UAW Labor Agreement is available
for free at http://ResearchArchives.com/t/s?2446

                     About General Motors

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

                         *     *     *

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

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

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


HOSPITAL TELEPHONE: Taps Smith & Williamson as Administrators
-------------------------------------------------------------
Stephen Cork and Joanne Milner of Smith & Williamson were
appointed joint administrators of Hospital Telephone Services
Ltd. (Company Number 3261427) on Oct. 3.

Smith & Williamson -- http://www.smith.williamson.co.uk/--
provides investment management, financial advisory and
accountancy services to private clients, professional practices,
mid to large corporates and non-profit organizations.


The company can be reached at:

         Hospital Telephone Services Ltd.
         Unit 2 Sayer House
         Oxgate Lane
         Brent
         London
         NW2 7JN
         England
         Tel: 0871 666 4000


NORTHERN ROCK: Virgin Group Consortium Prepares Bid
---------------------------------------------------
An international group of investors led by Richard Branson's
Virgin Group Ltd. have joined the growing list of bidders for
troubled mortgage bank Northern Rock PLC, one of the latest
victims of the credit market crisis, the Wall Street Journal
reports.

Mr. Branson said the consortium's plan includes incorporating
Northern Rock into Virgin Money, his group's financial unit, as
well as changing the mortgage lender's name to Virgin Money, WSJ
states.

Virgin Group has lined up insurance giant American International
Group Inc. and U.S.-based turnaround specialist WL Ross & Co.,
an investment firm run by Wilbur Ross to be part of the
consortium, WSJ relates.  British hedge fund Toscafund Asset
Management LLP, run by former Royal Bank of Scotland Group PLC
executives, and First Eastern Investment Group, of Hong Kong,
are also joining the pool of investors.

The Financial Times reveals that a Middle Eastern sovereign
wealth fund has also expressed interest in joining the Virgin
Group consortium, which may submit a bid for Northern Rock as
early as this week.

Mr. Branson recently disclosed in a television interview that
his proposal would include new funding to stabilize the bank,
paying back all the funding provided by the Bank of England, and
assuring almost all of Northern Rock employees' jobs, WSJ notes.

                     About Northern Rock plc

Headquartered in Newcastle upon Tyne, England, Northern Rock plc
-- http://www.northernrock.co.uk/mortgages/-- is currently the
5th largest UK mortgage lender, the largest financial
institution based in the North East of England and one of the
most cost efficient UK mortgage lenders based on key performance
ratios.  The company had more than US$200 billion in assets at
the end of June 2007.

                          *     *     *

As reported in the TCR-Europe on Sept. 28, 2007, Standard &
Poor's Ratings Services placed its 'A-/A-1'
counterparty credit ratings on U.K. bank Northern Rock PLC on
CreditWatch with developing implications.  At the same time, the
'BBB' subordinated, 'BB' junior subordinated, and 'A-' senior
unsecured debt ratings were placed on CreditWatch with
developing implications.


RANK GROUP: Retail Business Revenue Drops on Smoking Ban
--------------------------------------------------------
Rank Group plc provides trading update for the 40 weeks to
Oct. 7, 2007.

Rank Group has achieved a 2% like-for-like growth in continuing
group revenues for the 40 weeks to Oct. 7, 2007.  Total sales
for the continuing group are 1% below the comparable period in
2006.

However, after an encouraging start to the second half of the
year, the group's U.K. retail businesses, Mecca Bingo and
Grosvenor Casinos, have experienced a significant deterioration
in revenue in recent weeks.  This is largely attributable to a
combination of the loss of Section 21 gaming terminals (as
required by the Gambling Act 2005 from Sept. 1, 2007) and the
bans on smoking in enclosed public places, which have been in
effect across the whole of the U.K. since July 1, 2007.

While the recent trading difficulties affecting the group's U.K.
retail businesses are worse than it had anticipated, the group
understands that they are shared by the broader U.K. bingo club
and casino markets and are not unique to Rank.

The group's interactive business, Blue Square continued to
deliver impressive growth while its Spanish bingo clubs
business, Top Rank Espana performed well.

Segmental and group revenue for 40 weeks to 7 October 2007

              Like-for-like revenue
             (adjusted for club openings,
              closures & relocations)       Total revenue
              ----------------------        -------------

   Mecca Bingo           (2)%                    (5)%
   Top Rank Espana        8%                      8%
   Grosvenor Casinos      0%                     (3)%
   Blue Square           38%                      38%
   Group                  2%                      (1)%


                           Mecca Bingo

Having delivered an encouraging start to the second half of the
year, the group's U.K. bingo clubs were subsequently impacted by
the loss of the highly popular Section 21 gaming terminals.
This compounded the negative effects of bans on smoking in
enclosed public spaces, leading to a significant deterioration
in revenue from Sept. 1, 2007.

In the five weeks following the removal of Rank's Section 21
terminals, Mecca Bingo like-for-like revenue declined by 19%
across the U.K. with admissions down by 13% and spend per head
down by 7%.  Revenue in England and Wales fell by 22%, while
in Scotland (where the smoking ban was introduced in March 2006)
it was 6% lower than in the comparable period in 2006.

Rank's focus remains the protection of revenue in the light of
recent changes in legislation, adapting its clubs, its products
and its service to improve the customer experience.

Rank has now gained licensing approval for outside gaming areas
at 28 of its clubs and 14 of these are now in operation.  In
addition the group has extended handheld electronic bingo to 78
of its clubs.  Notwithstanding the recent negative trading, both
of these initiatives have made valuable contributions to their
club revenues.  The group continues to explore opportunities to
develop improved gaming and non-gaming products in its bingo
clubs.

                       Top Rank Espana

Revenue from Spanish bingo clubs business, Top Rank Espana, had
grown by 8% in the 40 week period.  Spend per head was ahead by
10%, off-setting a 1% decline in admissions.

                        Grosvenor Casinos

In the 40 week period since the start of the financial year
like-for-like revenue has been in line with the comparable
period last year, with a marginal increase in spend per head
offsetting a 1% decline in admissions.

During the last five weeks, revenue was down 9% with admissions
1% lower and spend per head down by 8%.  The fall in spend per
head is attributable largely to the effects of the smoking ban
on customer dwell times, which has reduced win from table and
machine gaming.  In addition, the requirement to remove Section
21 gaming terminals has had an impact in some casinos.

Towards the end of September 2007, Rank commenced the first
advertising campaign for its U.K. casinos, targeting new
customers principally through local and regional press and radio
advertising.

Also in September the group gained a license to operate a casino
in Edinburgh.  In total Rank has gained ten new casino licenses
over the past three years, providing the group with significant
opportunity to add scale and widen distribution.

                           Blue Square

Rank's interactive business, Blue Square, has maintained a
strong rate of growth.  For the first 40 weeks of the financial
year revenue is 38% ahead of the comparable period in 2006, with
an exceptionally strong performance from the group's gaming
products.  Revenue growth from its online bingo and games brand,
Meccabingo.com has been particularly impressive.

                           Outlook

The coincidence of a number of external factors has resulted in
a period of volatility and a lack of visibility unprecedented in
the U.K. gaming industry.  Should the disappointing levels of
recent weeks' trading continue through to the end of the year
(and given the relatively high level of fixed costs within
Mecca Bingo and Grosvenor Casinos) group operating profit for
the full year would be significantly lower than in 2006.

The board remains committed to its strategy of developing modern
leisure-based businesses to benefit from the growing popularity
of gaming activities.  The group will continue to take vigorous
action to meet the immediate challenges facing its businesses
while retaining its focus on the long term growth opportunities
for Rank.

Headquartered in London, United Kingdom, Rank Group PLC --
http://www.rank.com/-- is an international leisure and
entertainment company.  The Group provides services to the film
industry, including film processing, video duplication and
cinema exhibition.  The Group's leisure and entertainment
activities entail gambling services, encompassing Mecca Bingo
Clubs and Grosvenor Casinos, and owned and franchises Hard Rock
cafes.

                            *   *   *

As reported in the TCR-Europe on April 24, 2007, Moody's
Investors Service downgraded to B2 (from Ba3) the debt ratings
of the US$100-million guaranteed notes due 2008 and US$14.3-
million guaranteed notes due 2018 at Rank Group Finance Plc.

According to the Loss Given Default methodology, Moody's has
also assigned:

   -- a probability of default rating of Ba3 to the corporate
      family; and

   -- an LGD assessment of LGD5 and an LGD rate of 84% to the
      2008 and 2018 notes.

The Ba3 corporate family rating and Negative outlook are not
affected.

Affected ratings are as follows:

   -- A probability of default rating of Ba3 has been assigned
      to Rank.

   -- The rating on the US$100 million Guaranteed notes due
      2008 at Rank Group Finance (guaranteed by Rank) downgraded
      to B2 from Ba3.  An LGD5 and 84% LGD rate has been
      assigned.

   -- The rating on the US$14.3 million Guaranteed notes due
      2018 at Rank Group Finance (guaranteed by Rank) downgraded
      to B2 from Ba3.  An LGD5 and 84% LGD rate has been
      assigned.

At the same time, Standard & Poor's Ratings Services revised its
outlook on U.K.-based gaming company The Rank Group PLC to
negative from stable.  At the same time, the 'BB-' long-term and
'B' short-term corporate credit ratings were affirmed.

In December 2006, Fitch Ratings affirmed The Rank Group Plc's
Issuer Default ratings at B+ with Negative Outlook, senior
unsecured rating at B+ and Short-term rating at B.  The ratings
are simultaneously withdrawn.


REMY INT'L: Bankruptcy Filing Cues Moody's to Withdraw Ratings
--------------------------------------------------------------
Moody's Investors Service has lowered the Probability of Default
Ratings of Remy International, Inc. to D from C/LD, and affirmed
the Corporate Family Rating at Ca, the second-priority senior
secured floating rate notes at B3, the senior unsecured notes at
Ca; and the senior subordinated notes at C.  The Probability of
Default rating of D reflects the filing for Chapter 11
protection by Remy pursuant to it previously announced
prepackaged plan of reorganization which was supported by the
company's unsecured noteholders.

Subsequent to Remy's Chapter 11 filing, Moody's will withdraw
the ratings of Remy International, Inc.

Ratings lowered:

    * Probability of Default Rating, to D from C/LD;

Ratings affirmed:

    * US$125 million of guaranteed second-priority senior
      secured floating rate notes at B3 (LGD2, 12%)

    * US$145 million of 8.625% guaranteed senior unsecured notes
      at Ca (LGD4, 52%);

    * US$150 million of 9.375% guaranteed senior subordinated
      notes at C (LGD6, 99%);

    * US$165 million of 11% guaranteed senior subordinated notes
      at C (LGD6, 99%);

    * Corporate Family Rating, Ca;

The last rating action was on Sept. 28, 2007 when the ratings
were lowered.

The US$80 million senior secured term loan and the senior
secured asset based revolving credit facility are not rated by
Moody's.

Remy International, Inc. is headquartered in Anderson, Indiana.
The company is a leading global manufacturer and remanufacturer
of aftermarket and original equipment electrical components for
automobiles, light trucks, heavy duty trucks and other heavy
duty vehicles.  Remy International is privately owned in the
following approximate percentages by affiliates of Citicorp
Venture Capital (70%); Berkshire Hathaway (20%); and
management/miscellaneous other investors (10%).  Annual revenues
over the last twelve months approximated US$1.1 billion.

Remy has operations in the United Kingdom, Brazil, and Korea.


REMY INTERNATIONAL: S&P Assigns Default Rating on US$125MM Notes
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on Remy
International Inc.'s US$200 million first-priority bank loan and
US$125 million second-priority floating notes to 'D' from 'CC'.

"The rating actions follow Remy's announcement that on Oct. 8 it
filed for voluntary bankruptcy proceedings for itself and its
domestic subsidiaries under Chapter 11 of the U.S. Bankruptcy
Code to seek confirmation of its previously announced plan of
reorganization," said Standard & Poor's credit analyst Nancy
Messer.  "We expected the Chapter 11 filing because the company
had previously reached an agreement with the majority of its
unsecured debt holders to undertake a capital restructuring
through a prepackaged POR."

Remy is a large manufacturer and remanufacturer of after-market
and original equipment electrical components, primarily starter
motors and alternators.  As a critical part of the
restructuring, Remy successfully renegotiated certain material
commercial agreements to improve margins.


REMY WORLDWIDE: Can Use Cash Collateral for Debt Payment
--------------------------------------------------------
Remy Worldwide Holdings Inc. and its debtor-affiliates obtained
authority of the U.S. Bankruptcy Court for the District of
Delaware to use proceeds from a January 2007 asset sale and any
existing funds to pay off US$158 million in prepetition loan
obligations and for working capital purposes.

Prior to Oct. 8, 2007, the Debtors obtained funding under a
Third Amended and Restated Loan and Security Agreement, dated
Dec. 27, 2005, with Credit Suisse Cayman Islands Branch,
Wachovia Capital Finance Corporation (Central), and a consortium
of lenders.  The Prepetition Agreement provided for a term loan
facility and a revolving credit facility of up to US$250
million.  The Agreement also provided for the issuance of
letters of credit of up to US$30 million in the aggregate.  The
loan proceeds were used for general corporate purposes.

Credit Suisse served as administrative agent for the term loan
lenders.  Wachovia acted as administrative agent for the
revolving loan lenders.

As of Oct. 8, 2007, the Debtors owed the Prepetition Lenders
US$80 million under the Term Loan Facility and US$78 million
under the Revolving Credit Facility, including the Letters of
Credit.

The Prepetition Loan obligations are secured by a first priority
perfected security interests in substantially all of the assets
of certain Debtors.

On Jan. 31, 2007, the Debtors sold their diesel engine
remanufacturing business to Caterpillar for US$158 million.  The
Debtors and Caterpillar also entered into outsourcing
agreements, which are expected to result in additional cash
proceeds of roughly US$14 million in 2007 to the Debtors.

The Debtors have deposited US$53 million of the sale proceeds
into an account for the Prepetition Lenders' benefit.

The remaining obligations under the Prepetition Credit Agreement
will be satisfied by certain of the proceeds from the Debtors'
postpetition financing agreement with Barclays Capital.
Barclays Bank PLC's investment banking arm has agreed to provide
the Debtors up to US$225 million of DIP financing and US$330
million of long-term exit financing.

               Replacement Liens to FR Noteholders

At the Oct. 10, 2007 hearing on the Debtors' request, the
Honorable Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware also granted certain noteholders a
replacement lien for the Debtors' use of the Caterpillar
proceeds.The Debtors

Douglas P. Bartner, Esq., at Shearman & Sterling LLP, in New
York, related the Debtors' proposed counsel, said in Court
papers that the sale proceeds and any other funds of the Debtors
constitute cash collateral under Section 363(a) of the
Bankruptcy Code of:

   -- the Prepetition Lenders; and

   -- the holders of second priority senior floating rate notes
      due 2009 issued by Remy International, Inc., in the
      aggregate amount of US$125 million.

The Debtors' obligations under the FR Notes are governed by an
April 23, 2004 indenture with Deutsche Bank National Trust
Company, as trustee, and are secured by perfected security
interests in substantially all of the assets of certain Debtors.

There is substantial overlap between the collateral related to
the Prepetition Loan and the FR Notes, Mr. Bartner said.  The
rights and priorities of the Prepetition Lenders and the FR
Noteholders with respect to the Prepetition Loan Collateral and
the FR Collateral are governed by an intercreditor agreement
dated April 23, 2004.  The Intercreditor Agreement provides that
liens of the Prepetition Lenders are senior to the FR Parties'
liens on the same property.

Mr. Bartner said Credit Suisse, Wachovia, the Prepetition
Lenders and representatives of more than two-thirds in amount of
the FR Noteholders have consented to the limited use by the
Debtors of the Cash Collateral.

In his order, Judge Carey granted Deutsche Bank, on the FR
Noteholders' behalf, a replacement lien on all collateral to the
extent there is a diminution in the value of the FR Prepetition
Collateral.  The FR Noteholders will also receive an
administrative claim pursuant to Section 507(b) of the
Bankruptcy Code to the extent the replacement lien does not
adequately protect any diminution in the value of the FR
Prepetition Collateral.

The Debtors will pay for the legal fees and expenses of the ad
hoc committee of FR Noteholders and the FR Indenture Trustee.
The fees and expenses are not subject to Court or United States
Trustee oversight.

Any interested party may challenge under Section 506(b) of the
Bankruptcy Code any adequate protection payments to the FR
Noteholders.  In the event the payments are not allowed under
Section 506(b), the payments may be recharacterized as payment
of principal on the FR Notes or disgorged, as appropriate.

The Debtors are also authorized to pay the FR Indenture Trustee
in cash all accrued and unpaid interest at the non-default rate
and on the dates set forth in the FR Indenture.

The replacement lien serves as adequate protection to the FR
Noteholders on account of the Debtors' continuing use of the
Noteholders' cash collateral and the priming of th FR Collateral
by the DIP Facility, Mr. Bartner said.

The use of the Deposited Funds to refinance the prepetition debt
will result in savings of interest for the Debtors, Mr. Bartner
said.

                       Other Cash Collateral

The Debtors also obtained permission to use cash collateral --
other than the sale proceeds -- during the period after the
Petition Date until the indefeasible payment in full in cash of
the Debtors' obligations under the Barclays credit facility.
The Debtors will use the Other Cash Collateral to pay salaries,
taxes, goods and materials, and other general corporate and
working capital expenses in the ordinary course of their
businesses.

Absent immediate use of Cash Collateral, the Debtors will be
unable to pay ongoing operational expenses, John H. Weber,
Remy's president, said.

"It is essential that the Debtors immediately stabilize their
operations and resume paying for ordinary, postpetition
operating expenses, as well as the prepetition expenses approved
[for payment by the Court], to minimize the damage occasioned by
their cash flow problems," Mr. Weber said.

                        Challenge Period

Judge Carey gave parties-in-interest the earlier of Dec. 22,
2007, or the effective date of the Debtors' plan of
reorganization to present any challenge to the validity,
perfection, amount and enforceability of the Prepetition
Lenders' and the FR Noteholders' liens.

Mr. Bartner noted that counsel for the parties that have agreed
to support the Plan has already had an extensive opportunity to
investigate the validity, perfection and enforceability of the
Prepetition Lenders' liens, and the Plan Support Parties do not
object to the Debtors' repayment of the prepetition debt.

The Debtors expect to conclude their restructuring cases within
60 days.

                     Final Hearing on Nov. 7

The Court will convene a hearing Nov. 7, 2007, at 10:00 a.m.
to consider approval of the Debtors' request on a final basis.
Objections, if any, to the Debtors' continued use of Cash
Collateral must be filed by Oct. 29, 2007.

Richard A. Levy, Esq., and Vic Puri, Esq., at Latham & Watkins
LLP, in Chicago, Illinois, represent Wachovia.  Adam Harris,
Esq., at Schulte Roth & Zabel LLP, in New York, represents
Credit Suisse.

Deutsche Bank is represented by Mark F. Hebbelen, Esq., at
Drinker Biddle Gardner Carton's Chicago office, and Howard A.
Cohen, Esq., at Drinker Biddle's Wilmington, Delaware office.

Evan D. Flaschen, Esq., at Bracewell & Giuliani LLP, in
Hartford, Connecticut, and Joseph H. Huston, Esq., at Stevens &
Lee, P.C., in Wilmington, Delaware, represent the FR Noteholder
Group.

                      About Remy Worldwide

Based in Anderson, Indiana, Remy Worldwide Holdings Inc. acts as
a holding company of all the outstanding capital stock of Remy
International Inc.  Remy International --
http://www.remyinc.com/-- manufactures, remanufactures and
distributes Delco Remy brand heavy-duty systems and Remy brand
starters and alternators, locomotive products and hybrid power
technology.  The company also provides a worldwide components
core-exchange service for automobiles, light trucks, medium and
heavy-duty trucks and other heavy-duty, off-road and industrial
applications.  Remy has operations in the United Kingdom, Mexico
and Korea, among others.

The company and its debtor-affiliates filed for Chapter 11
protection on Oct. 8, 2007 (Bankr. D. Del. Cases No. 07-11481 to
07-11509).  Douglas P. Bartner, Esq., Fredric Sosnick, Esq., and
Michael H. Torkin, Esq., at Shearman & Sterling LLP, represent
the Debtors' in their restructuring efforts.  Pauline K. Morgan,
Esq., Edmon L. Morton, Esq., and Kenneth J. Enos, Esq., at Young
Conaway Stargatt & Taylor, LLP, serve as co-counsels to the
Debtors.  The Debtors' claims agent is Kurtzman Carson
Consultants LLC and their restructuring advisor is
AlixPartners, LLC.

At Sept. 30, 2006, Remy Worldwide's balance sheet showed total
assets of US$919,736,000 and total liabilities of
US$1,265,648,000.  (Remy Bankruptcy News; Issue No. 2,
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


REMY WORLDWIDE: Gets Interim Court Nod on US$160MM DIP Financing
----------------------------------------------------------------
Remy Worldwide Holdings Inc. and its debtor-affiliates obtained
interim authority from the U.S. Bankruptcy Court for the
District of Delaware to borrow up to US$160 million from a
US$225 million postpetition financing facility syndicated by
Barclays Capital.

The Debtors have entered into a US$120 million Secured, Super-
Priority Debtor-in-Possession and Exit Revolver Credit Agreement
dated Oct. 10, 2007, with Barclays Capital as Sole Lead Arranger
and Sole Bookrunner; Barclays Bank PLC as Administrative Agent,
Collateral Agent and Lender; Wachovia Capital Finance
Corporation as Co-Collateral Agent and Syndication Agent; and
General Electric Capital Corporation and Wells Fargo Foothill,
LLC as Co-Documentation Agents.  The asset-based revolver
includes a letter of credit sub-facility.

A full-text copy of the Revolver Agreement is available for free
at http://ResearchArchives.com/t/s?2437

The Debtors have also entered into a US$105 million Senior
Secured Debtor-in-Possession and Exit First Lien Credit
Agreement, dated Oct. 10, 2007, with Barclays Capital as Sole
Lead Arranger and Sole Bookrunner and Barclays Bank as
Administrative Agent and Lender.

A full-text copy of the First Lien Agreement is available for
free at http://ResearchArchives.com/t/s?2438

The Debtors have the option to convert the Revolving and the
First Lien Term Loans to Exit Facilities no later than April 10,
2008.  Upon conversion, the First Lien Term Loan may be
increased to US$160 million.

Remy Worldwide Holdings, Inc., will guarantee the payment of
each Debtor's obligations under the DIP Facility.

The Court also authorized the Debtors to execute a separate
US$50 million Second Lien Credit Agreement, dated Oct. 10, 2007,
with Barclays.

A full-text copy of the Second Lien Agreement is available for
free at http://ResearchArchives.com/t/s?2439

Douglas P. Bartner, Esq., at Shearman & Sterling LLP, in New
York, the Debtors' proposed counsel, said in Court papers that
that the Debtors were unable to obtain DIP financing in the form
of unsecured credit repayable as an administrative expense.  No
third party lender was willing to extend postpetition financing
without receiving senior and priming liens on and security
interests in substantially all of the Debtors' prepetition
assets.

Without sufficient liquidity, the Debtors will be unable to pay
suppliers, employees and other constituencies that are essential
to the orderly operation of their businesses and to confirm
their Plan, according to Mr. Bartner.

The Debtors presented to the Court a proposed budget showing
their cash needs for a six-week period through Nov. 9, 2007.  A
full-text copy of the Interim DIP budget is available for free
at http://ResearchArchives.com/t/s?243a

Rothschild Inc., the Debtors' financial advisors, contacted
seven lending institutions.  From those institutions, the
Debtors received five initial proposals.  Based on the initial
proposals three institutions were invited to attend management
presentations.

The Debtors accepted the proposal from Barclays because the
structure and pricing of their proposals were the best available
to the Debtors, Mr. Bartner said.

                 Terms of US$225-Mil. DIP Facility

The Debtors will use the loan proceeds to repay in full their
US$158,000,000 prepetition loan obligations as well as to pay
postpetition operating expenses, and to pay other costs and
expenses of administration of the bankruptcy cases.

The DIP Facility will terminate on the earliest of six months
after the date of the Closing Date, the effective date of the
Debtors' plan of reorganization, or the date of termination of
the commitments or acceleration of any outstanding extensions of
credit.  The DIP Facility may be extended by up to six months.

The DIP Revolving Credit Facility will incur interest at, at the
Debtors' option, either the LIBOR Rate or the Alternate Base
Rate plus the Applicable LIBOR Margin of 2.00% and Applicable
ABR Margin of 1.00%.  Three months after the Closing Date, the
applicable margin for the DIP Revolving Credit Facility will be
determined by a grid based on average excess availability for
the most recent prior month:

                            Applicable   Applicable Facility
     Excess Availability   LIBOR Margin      ABR Margin
     -------------------   ------------  -------------------
     > US$85,000,000             1.75%            0.75%

     < or = US$85,000,000 but    2.00%            1.00%
     > or = US$40,000,000

     < US$40,000,000             2.25%            1.25%

The DIP Term Loan Facility will incur interest at, at the
Debtors' option, either the LIBOR Rate or the Alternate Base
Rate plus the Applicable LIBOR Margin of 4.50% and Applicable
ABR Margin of 3.50%.

Upon an event of default, the Debtors will pay default interest
and letter of credit fees at 2.00% above the rate otherwise
applicable.

The Debtors' obligations under the DIP Facility are secured by
valid, binding, continuing, enforceable, fully perfected and
unavoidable first priority senior priming security interests in,
and liens upon, all of the Debtors' domestic assets, and 65% of
all capital stock of all the first-tier material foreign
subsidiaries, including 65% of all capital stock of Remy Auto
Parts Holdings B.V.

The DIP Liens, however, do not include avoidance actions under
Chapter 5 of the Bankruptcy Code and any proceeds net of costs
to pursue the avoidance claims.  In addition, the DIP Liens
will:

   -- be subject, in an event of default, to a carve-out for
      payment of bankruptcy professional fees not to exceed
      US$2.5 million in the aggregate; and fees payable to the
      United States Trustee under 28 U.S.C. Section 1930 and to
      the clerk of court; and

   -- take second priority to certain existing liens on the
      Debtors' assets

The Existing Liens exclude any liens:

   1. by the Debtors' prepetition secured lenders;

   2. by the holders of Remy International Inc.'s second
      priority senior floating rate notes due 2009 in an
      aggregate amount of US$125 million;

   3. by the Pension Benefit Guaranty Corporation related to
      the Debtors' Salaried Retirement Plan and Hourly
      Employees Pension Plan;

   4. arising out of or related to an October 1, 2007,
      promissory note for US$7,279,286 made by World Wide
      Automotive, L.L.C. payable to the United States Customs
      and Border Protection.

                        DIP Financing Fees

The Court permitted the Debtors to pay all fees payable pursuant
to the amended and restated fee letter between Barclays and Remy
International dated Aug. 29, 2007.  The Debtors have filed the
fee letter under seal, in light of the confidential commercial
nature of the information in the fee letter.

Specifically, the Debtors will pay to the DIP Lenders:

   -- a DIP Revolving Credit Facility Commitment Fee equal to
      0.375% per annum of the unused portion of the DIP
      Revolving Credit Facility;

   -- a DIP Term Loan Facility Commitment Fee equal to 1% per
      annum on the committed but undrawn portion of the Term
      Loan Facilities from the DIP Facility Closing Date to the
      Exit Facility Closing Date.  The undrawn portion of the
      Term Loan Facilities means US$55,000,000 of the First-Lien
      Term Loan and the entire amount of the Second-Lien Term
      Loan; and

   -- Letter of Credit Fees equal to:

      (i) The Applicable LIBOR Margin then in effect for the
          DIP Revolving Credit Facility, multiplied by

     (ii) the average daily maximum aggregate amount available
          to be drawn under all Letters of Credit.

The Debtors will also pay a fronting fee to the Issuing Bank as
well as certain customary fees.

The Debtros will also pay fees due to Barclays in connection
with arranging and providing the DIP Facility and Exit
Facilities; and underwriting deposit and out-of-pocket expenses
in connection with the costs and expenses incurred by Barclays
in conducting due diligence and documentation.

Barclays may revise the interest rates or prepayment amounts
contained in the DIP Facility and Exit Facilities.

                       Financial Covenants

The DIP Credit Agreements provide for certain financial
covenants which will be tested on a monthly basis until the Exit
Facilities Conversion Date, and thereafter, on a quarterly
basis.

Among others, the Debtors covenant with the DIP Lenders not to
let, at the end of each fiscal month or fiscal quarter as
applicable, EBITDA for the 12-month period then ended below:

                Fiscal Month/Fiscal
                Quarter                        EBITDA
                -------------------            ------
                October 31, 2007            US$27,300,000
                November 30, 2007            28,600,000
                December 31, 2007            46,800,000
                January 31, 2008             50,300,000
                February 29, 2008            52,700,000
                March 31, 2008               52,700,000
                June 30, 2008                64,400,000
                September 30, 2008           84,200,000
                December 31, 2008            86,800,000
                March 31, 2009               93,800,000
                June 30, 2009                98,600,000
                September 30, 2009           96,300,000
                December 31, 2009           103,500,000
                March 31, 2010              104,500,000
                June 30, 2010               105,600,000
                September 30, 2010          106,700,000
                December 31, 2010           107,700,000
                March 31, 2011              109,300,000
                June 30, 2011               111,000,000
                September 30, 2011          112,600,000
                December 31, 2011           114,200,000
                March 31, 2012              114,200,000
                June 30, 2012               114,200,000
                September 30, 2012          114,200,000
                December 31, 2012           114,200,000
                March 31, 2013              114,200,000

The Debtors covenant with the Lenders to limit their capital
expenditures during each fiscal quarter to:

                                           Maximum CapEx
                Fiscal Quarter Ended         Per Period
                --------------------        -------------
                December 31, 2007            US$6,200,000
                March 31, 2008                7,700,000
                June 30, 2008                 6,100,000
                September 30, 2008            6,100,000
                December 31, 2008             6,100,000
                March 31, 2009                6,100,000
                June 30, 2009                 6,400,000
                September 30, 2009            6,300,000
                December 31, 2009             6,300,000
                March 31, 2010                7,000,000
                June 30, 2010                 7,300,000
                September 30, 2010            7,200,000
                December 31, 2010             7,300,000
                March 31, 2011                6,700,000
                June 30, 2011                 7,000,000
                September 30, 2011            6,900,000
                December 31, 2011             7,000,000
                March 31, 2012                7,000,000
                June 30, 2012                 7,000,000
                September 30, 2012            7,000,000
                December 31, 2012             7,000,000
                March 31, 2013                7,000,000

If the amount of all Capital Expenditures is less than the sum
of the maximum amounts designated for a certain period, the
Debtors may carry over the unused amount for the next two
consecutive Fiscal Quarters; provided, that Carry Over Amount
may only be used in the succeeding period.

The Court will convene a hearing Nov. 7, 2007, at 10:00 a.m. to
consider approval of the Debtors' request on a final basis.
Objections, if any, to the Debtors' DIP Financing Motion must be
filed by Oct. 29, 2007.

Barclays is represented in the Debtors' cases by Leslie A.
Plaskon, Esq., and Kristine M. Shryock, Esq., at Paul Hastings
Janofsky & Walker LLP in New York; and Mark D. Collins, Esq., at
Richards Layton & Finger PA, in Wilmington, Delaware.

                     About Remy Worldwide

Based in Anderson, Indiana, Remy Worldwide Holdings Inc. acts as
a holding company of all the outstanding capital stock of Remy
International Inc.  Remy International --
http://www.remyinc.com/-- manufactures, remanufactures and
distributes Delco Remy brand heavy-duty systems and Remy brand
starters and alternators, locomotive products and hybrid power
technology.  The company also provides a worldwide components
core-exchange service for automobiles, light trucks, medium and
heavy-duty trucks and other heavy-duty, off-road and industrial
applications.  Remy has operations in the United Kingdom, Mexico
and Korea, among others.

The company and its debtor-affiliates filed for Chapter 11
protection on Oct. 8, 2007 (Bankr. D. Del. Cases No. 07-11481 to
07-11509).  Douglas P. Bartner, Esq., Fredric Sosnick, Esq., and
Michael H. Torkin, Esq., at Shearman & Sterling LLP, represent
the Debtors' in their restructuring efforts.  Pauline K. Morgan,
Esq., Edmon L. Morton, Esq., and Kenneth J. Enos, Esq., at Young
Conaway Stargatt & Taylor, LLP, serve as co-counsels to the
Debtors.  The Debtors' claims agent is Kurtzman Carson
Consultants LLC and their restructuring advisor is
AlixPartners, LLC.

At Sept. 30, 2006, Remy Worldwide's balance sheet showed total
assets of US$919,736,000 and total liabilities of
US$1,265,648,000.  (Remy Bankruptcy News; Issue No. 2,
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


SEA CONTAINERS: Earns US$11,158,734 in Month Ended August 31
------------------------------------------------------------
                      Sea Containers, Ltd.
                    Unaudited Balance Sheet
                     As of August 31, 2007



                            Assets

Current Assets
  Cash and cash equivalents                     $47,650,121
  Trade receivables, less allowances
    for doubtful accounts                            27,578
  Due from related parties                        7,409,824
  Prepaid expenses and other current assets       1,717,768
                                               ------------
      Total current assets                       56,805,291

Fixed assets, net                                         -

Long-term equipment sales receivable, net                 -
Investments in group companies                  143,546,856
Intercompany receivables                                  -
Investment in equity ownership interests        227,146,976
Other assets                                      4,076,327
                                               ------------
Total assets                                   $431,575,450

             Liabilities and Shareholders' Equity

Current Liabilities
  Accounts payable                               $8,865,234
  Accrued expenses                               52,398,600
  Current portion of long-term debt             171,098,244
  Current portion of senior notes               385,323,207
                                               ------------
        Total current liabilities               617,685,285

Total shareholders' equity                     (186,109,835)
                                               ------------
Total liabilities and shareholders' equity     $431,575,450


                     Sea Containers, Ltd.
               Unaudited Statement of Operations
               For the Month Ended August 31, 2007

Revenue                                          $2,473,134

Costs and expenses:
  Operating costs                                   430,602
  Selling, general and
    administrative expenses                      (3,031,169)
  Professional fees                              (6,832,670)
  Credits to provide against
    intercompany accounts                        66,453,293
  Impairment of investment in subsidy Co.       (29,778,329)
  Forgiveness of intercompany debt              (16,482,588)
  Depreciation and amortization                           -
                                               ------------
  Total costs and expenses                       10,759,139
                                               ------------
Gain or (Loss) on sale of assets                          -
                                               ------------
Operating income (loss)                          13,232,273


Other income (expense)
  Interest income                                 3,893,111
  Foreign exchange gains or (losses)                  5,461
  Interest expense, net                          (5,872,111)
                                               ------------
Income (Loss) before taxes                       11,258,734
Income tax expense                                 (100,000)
                                               ------------
Net Profit (Loss)                               $11,158,734


                    Sea Containers Services
                    Unaudited Balance Sheet
                     As of August 31, 2007

                            Assets

Current Assets
  Cash and cash equivalents                         $67,758
  Trade receivables                                  27,929
  Due from related parties                        5,587,738
  Prepaid expenses and other current assets       4,741,076
                                               ------------
       Total current assets                      10,424,501

Fixed assets, net                                 2,327,141

Investments                                       2,717,732
Intercompany receivables                         46,451,752
Other assets                                              0
                                               ------------
Total assets                                    $61,921,126

             Liabilities and Shareholders' Equity

Current Liabilities
  Accounts payable                               $2,781,162
  Accrued expenses                                2,682,516
  Current portion of long-term debt               1,679,343
                                               ------------
      Total current liabilities                   7,143,021

Total shareholders' equity                       54,778,105
                                               ------------
Total liabilities and shareholders' equity      $61,921,126


                     Sea Containers Services
                 Unaudited Statement of Operations
             For the Month Ended August 31, 2007


Revenue                                          $2,478,786

Costs and expenses:
  Operating costs                                         -
  Selling, general and
     administrative expenses                     (1,623,585)
  Professional Fees                                (570,095)
  Other charges                                           0
  Depreciation and amortization                    (100,893)
                                               ------------
       Total costs and expenses                  (2,294,573)
                                               ------------
Gains on sale of assets                                   0
                                               ------------
Operating income (loss)                             184,214

Other income (expense)
  Interest income                                       978
  Foreign exchange gains (losses)                      (537)
  Interest expense, net                              (9,953)
                                               ------------
Income (Loss) before taxes                          174,702
Income tax credit                                         0
                                               ------------
Net Income                                         $174,702

Headquartered in Hamilton, Bermuda, Sea Containers Ltd. --
http://www.seacontainers.com/-- provides passenger and freight
transport and marine container leasing.  Registered in Bermuda,
the company has regional operating offices in London, Genoa, New
York, Rio de Janeiro, Sydney, and Singapore.  The company is
owned almost entirely by United States shareholders and its
primary listing is on the New York Stock Exchange (SCRA and
SCRB) since 1974.  On Oct. 3, the company's common shares and
senior notes were suspended from trading on the NYSE and NYSE
Arca after the company's failure to file its 2005 annual report
on Form 10-K and its quarterly reports on Form 10-Q during 2006
with the U.S. Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the U.S.

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).
Edmon L. Morton, Esq., Edwin J. Harron, Esq., Robert S. Brady,
Esq., Sean Matthew Beach, Esq., and Sean T. Greecher, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in
their restructuring efforts.

The Official Committee of Unsecured Creditors and the Financial
Members Sub-Committee of the Official Committee of Unsecured
Creditors of Sea Containers Ltd. is represented by William H.
Sudell, Jr., Esq., and Thomas F. Driscoll, Esq., at Morris,
Nichols, Arsht & Tunnell LLP.  Sea Containers Services, Ltd.'s
Official Committee of Unsecured Creditors is represented by
attorneys at Willkie Farr & Gallagher LLP.  In its schedules
filed with the Court, Sea Containers disclosed total assets of
$62,400,718 and total liabilities of $1,545,384,083.  The
Debtors' exclusive period to file a chapter 11 plan expires on
Dec 21, 2007.  (Sea Containers Bankruptcy News, Issue No. 28;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


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

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

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


BELGIUM
-------
City Hotels               CITY.BR     (7)         210      (15)
Sabena S.A.                          (86)       2,215     (297)


CZECH REPUBLIC
--------------
Ceskomoravska Kolben &
   Danek Praha Holding               (89)         192   (2,186)


DENMARK
-------
Elite Shipping                       (28)         101       19

FRANCE
------
Arbel                     PA.ARB    (116)         194      (94)
Banque Nationale
   de Paris Guyane        BNPG       (41)         352      N.A.
BSN Glasspack                       (101)       1,151      179
Charbo De France                  (3,872)       4,738   (2,868)
Dollfus Mieg & Cie S.A.   DS         (16)         143      (45)
Euro Computer System                (110)         682      377
Genesys S.A.              GNS.PA     (10)         120       (5)
Grande Paroisse S.A.                (927)         629      330
Groupe Eurotunnel         GET      (2935)        9958    (9345)
Immob Hoteliere                      (65)         259       10
Matussiere et Forest S.A. MTF        (78)         294      (28)
Outremer Telecom          OMT        (33)         229      (88)
Pagesjaunes GRP           PAJ      (2718)       1,121     (291)
Pneumatiques Kleber S.A.             (34)         480      139
Rhodia S.A.               RHA       (828)       6,796      531
SDR Centrest                        (132)         252      N.A.
SDR Picardie                        (135)         413      N.A.
Soderag                               (3)         404      N.A.
Sofal S.A.                          (305)       6,619      N.A.
Spie-Batignolles                     (16)       5,281       75
Selcodis S.A.             SPVX       (18)         128      (22)
Trouvay Cauvin                        (0)         134       10
Usines Chausson                      (23)         249       35


GERMANY
-------
Cinemaxx AG               MXC        (27)         177      (32)
Cognis Deutschland
   GmbH & Co. KG                    (174)       3,003      606
Dortmunder
   Actien-Brauerei        DABG       (13)         118      (29)
EM.TV AG                  EV4G.BE    (22)         849       15
Gerresheimer AG           GXI         (7)       1,241      (11)
F.A. Guenther & Son AG    GUSG       (10)         111      N.A.
Kaufring AG               KAUG       (19)         151      (51)
Maternus Kliniken AG      MAK.F       (4)         201      (20)
Nordsee AG                            (8)         195      (31)
Schaltbau Hold            SLTG       (13)         185         3
SinnLeffers AG            WHGG        (4)         454     (145)
Spar Handels- AG          SPAG      (442)       1,433     (234)

GREECE
------
Empedos S.A.              EMPED      (34)         175      (48)
Radio A.Korassidis        KORA      (101)         181     (139)
   Commercial

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


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

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


ITALY
-----
Binda S.p.A.              BND        (11)         129      (20)
Cirio Finanziaria S.p.A.            (422)       1,583     (396)
Gruppo Coin S.p.A.        GC        (154)         801      (50)
Compagnia Italia          ICT       (138)         527     (235)
Credito Fondiario
   e Industriale S.p.A.             (200)       4,218      N.A.
Finpart S.p.A.                      (152)         732     (322)
I Viaggi del
   Ventaglio S.p.A.       VVE.MI    (116)         469     (143)
Olcese S.p.A.             OLCI.MI    (13)         180      (64)
Parmalat Finanziaria
   S.p.A.                        (18,419)       4,121  (12,481)
Snia S.p.A.               SN         (39)         275       36
Technodiffusione
   Italia S.p.A.          TDIFF.PK   (90)         152      (24)


NETHERLANDS
-----------
Baan Company N.V.         BAAN        (8)         610       46
United Pan-Euro Air       UPC     (5,266)       5,180   (8,730)


NORWAY
------
Petroleum-Geo Services    PGO        (32)       2,963   (5,250)


ROMANIA
-------
Rafo Onesti               RAF       (354)         475    (1421)


RUSSIA
------
East Siberia Brd          VSNK       (40)         106      (70)
Gukovugol Pfd             GUUGP      (58)         144    (4094)
OAO Samaraneftegas                  (332)         892  (16,942)
Vimpel Ship               SOVP       (93)         281     (420)
Zil Auto                 ZILLP      (178)         425  (10,597)


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


TURKEY
------
Nergis Holding                       (24)         125       26
Turk Tuborg              TBORG        (1)         153     (109)
Yasarbank                           (948)         623      N.A.


UKRAINE
-------
Dniprooblenergo           DNON       (40)         477     (807)
Donetskoblenergo          DOON      (286)         597    (1991)


UNITED KINGDOM
--------------
Abbey National M          1143535Z   (35)         352      N.A.
Abbey National I          1136391Z   (15)         542     (283)
Abbott Mead Vickers       648824Q     (2)         168      (16)
Adecco UK Ltd.            1055417Z   (39)         317      (23)
Advent Capital            1151975Z  (167)         364      N.A.
Alfred McAlpine           1077274Z   (14)         212    (1450)
Alldays Plc               317056Q   (120)         252     (202)
Allied Domeq              1241527Z  (133)        1358     (785)
Amey Plc                  AMY        (49)         932      (47)
Atkins (WS) Plc           ATK       (150)       1,390       62
BAE Systems Prop          1151751Z  (102)       1,264      (43)
BCH Group Plc             BCH         (6)         188      (44)
Blenheim Group            BEH       (153)         198      (34)
BMG Music                 1240823Z   (20)         204     (110)
Booker Plc                BKRUY      (60)       1,298       (8)
Bradstock Group           BDK         (2)         269        5
Brent Walker Group        BWL     (1,774)         867   (1,157)
British Energy Ltd        523362Q (5,823)       4,921      290
British Energy Plc        BGY     (5,823)       4,921      434
British Nuclear
   Fuels Plc              1046Z   (4,248)      40,326      977
Britvic Plc               BVIC      (108)         874      (20)
Cineworld Groug           CINE      (115)         748        7
Compass Group             CPG       (668)       2,972     (298)
Curos International       1077746Z  (550)         382      N.A.
Costain Group             COST      (108)         595      (61)
Danka Bus System          DNK.L     (108)         540       34
Dignity Plc               DTY        (55)         552       36
Duelguide Mezzan          1238103Z   (83)         677      (42)
Easynet Group             ESY.L      (45)         323       38
Electrical and Music
   Industries Group       EMI      (2266)       2,950     (296)
Euromoney Institutional
   Investor Plc           ERM.L      (50)         448      (67)
First Choice Hol          1098394Z  (235)         725      140
Galiform Plc              GFRM      (152)         889       35
Global Green Tech Group             (156)         408      (18)
Giant Midco Ltd           1248039Z    (8)       4,563       (4)
Heath Lambert
   Fenchurch Group Plc               (10)       4,109      (10)
HMV Group Plc             HMV        (26)        1273     (277)
Imperial Chemical
   Industries Plc         ICI       (370)       8,393        2
Invensys PLC                        (276)       3,914      357
Jarvis Plc                JRVS.L     (28)         370      (22)
Jpmorgan Cazenov          1076890Z    (2)         342       35
Ladbrokes Plc             LAD     (1,227)       1,669     (267)
Lambert Fenchurch Group               (1)       1,827        3
Lattice Group                     (1,290)      12,410   (1,228)
Ledge 563 Ltd             1267023Z   (61)         467     (279)
Lloyds TSB Equip          1238423Z    (1)         214      (98)
London Stock Exchange     LSE       (689)         526     (195)
M 2003 Plc                        (2,204)       7,205     (756)
Maunsell Intl             1113991Z  (615)       2,136      608
Metrix Funding            203055Q     (4)        3927       86
Misys Plc                 MSY         (7)       1,123     (131)
Mytravel Group            MT.L      (380)       1,818     (488)
Orange Plc                ORNGF     (594)       2,902        7
Patalex Iv Prod.          1238983Z    (3)         331      (19)
Pipe Holdings Plc         1242767Z   (13)         504       24
Regus Plc                 RGU.L      (46)         367      (60)
Rentokil Initial Plc      RTO     (1,044)       3,507     (457)
Saatchi & Saatchi         SSI       (119)         705      (41)
Scottish Windows          1265663Z   (34)         427       13
SFI Group                 SUF       (108)         178     (162)
Skyepharma PLC            SKP        (95)         211        2
Smiths News PLC           NWS       (204)         249      (41)
Telewest
   Communications Plc     TLWT    (3,702)       7,581   (5,631)
Tunstall Group F          1250991Z   (14)         282       79
Wincanton Plc             WIN        (27)       1,451      (78)


                            *********

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

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

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

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

                            *********


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

Troubled Company Reporter -- Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  Jazel P. Laureno, Julybien 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 * * *