TCREUR_Public/071102.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

           Friday, November 2, 2007, Vol. 8, No. 218

                            Headlines


A U S T R I A

ELEKTRO KOFFLER: Claims Registration Period Ends Nov. 19
GANTNER REISEN: Claims Registration Period Ends Nov. 20
LASERZ INNENAUSBAU: Claims Registration Period Ends Nov. 19
MAGNUM BRANDSCHADENSANIERUNGS: Claims Registration Ends Nov. 19
NEW LINE: Claims Registration Period Ends Nov. 19

PALMA LLC: Claims Registration Period Ends Nov. 19
SINGH & SHARMA: Vienna Court Orders Business Shutdown
TE-DU BAUG: Claims Registration Period Ends Nov. 20


B E L G I U M

CHIQUITA BRANDS: Outlines Restructuring Plan to Improve Earnings
SOLUTIA INC: Receives US$2 Billion Exit Loan Commitment
SOLUTIA INC: Court Urges Resolution of Bank of New York Dispute


F I N L A N D

HILTON HOTELS: Names Christopher Nassetta as President & CEO


F R A N C E

ALCATEL-LUCENT SA: Posts EUR318 Million Net Loss in 3rd Quarter
ALCATEL-LUCENT SA: Forms Regional Units & Management Committee
ALCATEL-LUCENT SA: Names Hubert de Pesquidoux as CFO
HARMAN INT'L: Names Messrs. Einsmann & Caroll as Board Members


G E R M A N Y

AOK BAYERN: Claims Registration Ends December 7
ARCUS HAUSHALTWAREN: Claims Registration Period Ends Nov. 15
ATL ENGINEERING: Claims Registration Period Ends December 7
BAHA-HANDELS-GMBH: Claims Registration Period Ends December 10
CLUB DISCOTHEK: Creditors' Meeting Slated for Dec. 17

DSB DIETER: Claims Registration Period Ends December 10
ECOMIZE GMBH: Claims Registration Period Ends November 27
EXPRESS DIENSTLEISTUNGS: Claims Registration Period Ends Nov. 14
GESELLSCHAFT FUER: Claims Registration Period Ends Dec. 12
NATURSTEIN DEMIC: Claims Registration Period Ends Dec. 11

RAINERS PFLANZENPARADIES: Claims Registration Ends Nov. 13
RESM GMBH: Claims Registration Period Ends Nov. 13
ROOSTER CLOTHING: Claims Registration Period Ends November 23
S & S MEDIENSERVICE: Claims Registration Period Ends December 10
SYSTEMMONTAGE WINDHORST: Claims Registration Ends Dec. 14

ZEITUNGSVERTRIEB KARPENSTEIN: Claims Registration Ends Dec. 17


H U N G A R Y

AES CORP: Prices Cash Tender Offer for Senior Notes


I R E L A N D

COMMSCOPE INC: Earns US$60.3 Mln in 3rd Quarter Ended Sept. 30


I T A L Y

ALITALIA SPA: Antitrust Agency May Change Volare Ruling
PARMALAT SPA: Court Moves Injunction Hearing to Feb. 14
PARMALAT SPA: Allocated Shares Hike Share Capital


K Y R G Y Z S T A N

BISHKEKSKY BRANCH OF IBRAKOM: Claims Must be Filed by December 1
SAVITAR JSC: Creditors Must File Claims by December 5


L U X E M B O U R G

EVRAZ GROUP: Now Owns 100% of Major Russian Units


N E T H E R L A N D S

GLOBAL POWER: U.S. Bankruptcy Court Okays Disclosure Statement
KONINKLIJKE AHOLD: Posts Preliminary Third Quarter 2007 Results
KONINKLIJKE AHOLD: To Remodel 100 Giant Food Outlets


P O L A N D

SCO GROUP: Selects Dorsey & Whitney as Special Corporate Counsel
SCO GROUP: Taps Boies Schiller as Special Litigation Counsel

R U S S I A

ALIANCE BANK: Competitive Proceedings Ongoing
ARAMIL'SKIY MILL OJSC: Asset Sale Slated for Nov. 21
CONSTRUCTION MATERIALS: Asset Sale Slated for Nov. 30
CANNING PLANTEGORYEVSKIJ: Bankruptcy Hearing Slated for Dec. 18
EVRAZ GROUP: Now Owns 100% of Major Russian Units

HEAT-AND-POWER: Bankruptcy Hearing Slated for Feb. 2
KOLKHOZ BOR'BA: Creditors Must File Claims by Dec. 20
PLANT IZMET: Creditors Must File Claims by Nov. 20
PODOL'SKIJ OJSC: Creditors Must File Claims by Dec. 20
SISTEMA JSFC: Okays Development Strategy for Healtcare Division


S W I T Z E R L A N D

ATELIER HPJAKOB: Creditors' Liquidation Claims Due by Nov. 5
EQUEST TECHNOLOGIES: Creditors' Liquidation Claims Due by Nov. 5
KM LLC: Aargau Court Starts Bankruptcy Proceedings
VERSUS WERBEAGENTUR: Creditors' Liquidation Claims Due by Nov. 5
ZEBE LIFESTYLE: Zug Court Starts Bankruptcy Proceedings


U K R A I N E

GALAKTON LLC: Creditors Must File Claims by November 3
IVTK IKAR: Creditors Must File Claims by November 3
KUA UKRINCOR: Creditors Must File Claims by November 7
SOYUZ-K LLC: Creditors Must File Claims by Nov. 3
VECTOR LLC: Creditors Must File Claims by November 3
ZIRCON REFRACTORY: Claims Filing Deadline Set November 3


U N I T E D   K I N G D O M

ACXIOM CORP: Board Approves US$75 Mil. Stock Repurchase Program
ACXIOM CORP: Earns US$10.5 Million in Quarter Ended Sept. 30
ACXIOM CORP: Annual Stockholders' Meeting Slated for Dec. 21
AVECIA GROUP: Moody's Holds Caa1 Corporate Family Rating
BGM INDUSTRIES: Brings In Liquidators from Moore Stephens

COLIN BRADBURY: Taps Liquidators from PricewaterhouseCoopers
EMI GROUP: Terra Firma Leads Strategic Review to Recover Equity
HAMBLETON WINDOWS: Claims Filing Period Ends November 28
IPSWICH CAB: Joint Liquidators Take Over Operations
ISLAND CONSULTANTS: Calls In Liquidators from Moore Stephens

NIXA LTD: Claims Filing Period Ends November 26
NORTHERN ROCK: Taps Blackstone Group as 3rd Financial Advisor
PERFOMAX LTD: Appoints Liquidators from Moore Stephens
PROFILE VENTURES: Hires Liquidators from Vantis Business
TATA MOTORS: Consolidated Profit Up 6.39% in Qtr. Ended Sept. 30

* BOOK REVIEW: Building American Cities: The Urban Real Estate
               Game


                            *********


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


ELEKTRO KOFFLER: Claims Registration Period Ends Nov. 19
--------------------------------------------------------
Creditors owed money by LLC Elektro Koffler (FN 72008w) have
until Nov. 19 to file written proofs of claim to court-appointed
estate administrator Erwin Senoner at:

         Dr. Erwin Senoner
         c/o Dr. Georg Freimueller
         Alser Strasse 21
         1080 Vienna
         Austria
         Tel: 406 05 51
         Fax: 406 96 01
         E-mail: kanzlei@jus.at  
  
Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on Dec. 3 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1705
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Sept. 28 (Bankr. Case No. 3 S 123/07v).  Georg Freimueller
represents Dr. Senoner in the bankruptcy proceedings.


GANTNER REISEN: Claims Registration Period Ends Nov. 20
-------------------------------------------------------
Creditors owed money by LLC Gantner Reisen (FN 142410b) have
until Nov. 20 to file written proofs of claim to court-appointed
estate administrator Thomas Kurz at:

         Mag. Thomas Kurz
         Roseggerstrasse 58
         4020 Linz
         Austria
         Tel: 0732/78 43 31
         Fax: 0732/78 43 31-57
         E-mail: manuela.winkelmayr@haslinger-nagele.com     

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on Dec. 4 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Linz
         Hall 522
         Fifth Floor
         Linz
         Austria

Headquartered in Linz, Austria, the Debtor declared bankruptcy
on Oct. 4 (Bankr. Case No. 38 S 52/07m).  


LASERZ INNENAUSBAU: Claims Registration Period Ends Nov. 19
-----------------------------------------------------------
Creditors owed money by KEG Laserz Innenausbau (FN 284847v) have
until Nov. 19 to file written proofs of claim to court-appointed
estate administrator Stefan Jahns at:

         Mag. Stefan Jahns
         c/o Dr. Susi Pariasek
         Gonzagagasse 15
         1010 Vienna
         Austria
         Tel: 532 17 11
         Fax: 532 17 11-11
         E-mail: kanzlei@jahns.co.at    

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on Dec. 3 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1705
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Oct. 1 (Bankr. Case No. 3 S 124/07s).  Susi Pariasek
represents Mag. Jahns in the bankruptcy proceedings.


MAGNUM BRANDSCHADENSANIERUNGS: Claims Registration Ends Nov. 19
---------------------------------------------------------------
Creditors owed money by LLC Magnum Brandschadensanierungs (FN
277326h) have until Nov. 19 to file written proofs of claim to
court-appointed estate administrator Annemarie Kosesnik-Wehrle
at:

         Dr. Annemarie Kosesnik-Wehrle
         c/o Dr. Stefan Langer
         Oelzeltgasse 4/6
         1030 Vienna
         Austria
         Tel: 713 61 92
         Fax: 713 61 92-22
         E-mail: kanzlei@kosesnik-langer.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:15 a.m. on Dec. 3 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1705
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Oct. 1 (Bankr. Case No. 3 S 125/07p).  Stefan Langer
represents Dr. Kosesnik-Wehrle in the bankruptcy proceedings.


NEW LINE: Claims Registration Period Ends Nov. 19
-------------------------------------------------
Creditors owed money by LLC New Line MoebelHandel (FN 223564x)
have until Nov. 19 to file written proofs of claim to court-
appointed estate administrator Martina Simlinger-Haas at:

         Dr. Martina Simlinger-Haas
         Reisnerstrasse 31
         1030 Vienna
         Austria
         Tel: 713 99 46
         Fax: 713 99 46 22
         E-mail: ra.reisnerstr31@aon.at    

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on Dec. 3 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1609
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Oct. 3 (Bankr. Case No. 38 S 54/07d).  


PALMA LLC: Claims Registration Period Ends Nov. 19
--------------------------------------------------
Creditors owed money by LLC PALMA (FN 179173s) have until
Nov. 19  to file written proofs of claim to court-appointed
estate administrator Christian Steurer at:

         Mag. Christian Steurer
         c/o Mag. Stefan Aberer
         Rathausstrasse 37
         6900 Bregenz
         Austria
         Tel: 05574/58085
         Fax: 05574/58085-8
         E-mail: office@ra-steurer.at   

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on Nov. 29 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Feldkirch
         Conference Hall 45
         First Floor
         Feldkirch
         Austria

Headquartered in Bregenz, Austria, the Debtor declared
bankruptcy on Oct. 3 (Bankr. Case No. 13 S 49/07x).  Stefan
Aberer represents Mag. Steurer in the bankruptcy proceedings.


SINGH & SHARMA: Vienna Court Orders Business Shutdown
-----------------------------------------------------
The Trade Court of Vienna entered on Oct. 4 an order shutting
down the business of LLC Singh & Sharma (FN 267596z).

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

The estate administrator can be reached at:

         Mag. Michael Neuhauser
         c/o  Dr. Christof Stapf
         Esslinggasse 7
         1010 Vienna
         Austria
         Tel: 90 333
         Fax: 90 333 55
         E-mail: wien@snwlaw.at  

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Sept. 24 (Bankr. Case No 6 S 122/07v).  Christof Stapf
represents Mag. Neuhauser in the bankruptcy proceedings.


TE-DU BAUG: Claims Registration Period Ends Nov. 20
---------------------------------------------------
Creditors owed money by LLC Te-Du Baug (FN 283322a) have until
Nov. 20 to file written proofs of claim to court-appointed
estate administrator Katharina Widhalm-Budak at:

         Dr. Katharina Widhalm-Budak
         Schulerstrasse 18
         1010 Vienna
         Austria
         Tel: 513 10 37
         Fax: 513 10 37 22
         E-mail: widhalm-budak@anwaltsteam.at     

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on Dec. 4 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 Oct. 4 (Bankr. Case No. 28 S 112/07k).  


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


CHIQUITA BRANDS: Outlines Restructuring Plan to Improve Earnings
----------------------------------------------------------------
Chiquita Brands International, Inc., outlined a restructuring
plan and management changes designed to accelerate its
previously announced strategy to become the global leader in
healthy, fresh foods.  This business restructuring is designed
to improve the company's profitability by consolidating
operations and simplifying its overhead structure to improve
efficiency, stimulate innovation and further enhance focus on
customers and consumers.

As a result of these changes, the company expects to generate
new, sustainable cost reductions of approximately US$60 million
to US$80 million annually, beginning in 2008, after a one-time
charge of approximately US$25 million in the fourth quarter 2007
related to severance costs and certain asset write-downs.  
Realized savings will improve profitability, and resulting
additional cash flow will be used primarily to reduce debt,
consistent with the company's target to achieve a debt-to-
capital ratio of 40%.

"Since 2005, market dynamics and the competitive landscape have
been rapidly changing, which has limited our profitability and
slowed the execution of our strategy," Fernando Aguirre,
chairman and chief executive officer, said.  "While we have
already taken various actions to strengthen our balance sheet,
improve our risk profile, and diversify the company, we continue
to endure rising industry costs, punitive European banana import
regulations, and a slower-than-expected recovery in the value-
added salads category.  We began a major analysis in the summer
when we realized the effects of these negative forces were
impacting our profit plans longer than originally anticipated.  
As a result of this analysis, we are taking several significant
broad-based actions across the business, which are designed to
improve our performance in areas we can more directly influence
and control."

"The changes we are making will result in fewer layers of
management, better and faster decisions and improved
accountability," Mr. Aguirre added.  "Also, we will drive
greater integration and efficiency across business units and
geographies, resulting in one face to customers, one global
supply chain from seed to shelf, and one global innovation
program with targeted priorities and better execution.  Taken
together, I am confident these actions will strengthen our long-
term market position and enhance our ability to achieve
sustainable, profitable growth."

The US$60 million to US$80 million of annual cost savings are
expected to come primarily from two areas:

   (1) a simplification and reduction of the company's
       operating and corporate overhead structure, including
       the elimination of more than 160 management positions
       worldwide, or a 21% reduction at the three highest
       levels, and related reductions in administrative
       expenses; and

   (2) business model changes, including network optimization,
       and the planned exit from certain nonstrategic or   
       unprofitable businesses.  All of these changes will be
       made in a manner designed to maintain high-quality
       service to customers and consumers, consistent with
       existing legal and contractual obligations, while
       treating fairly all Chiquita employees throughout the
       world who are impacted by the changes.

              Simplified Organizational Structure

Chiquita has simplified its organizational structure and
realigned it by geography, rather than product line.  In
addition, the company's product supply organization, innovation
efforts and certain corporate support functions have been
consolidated worldwide to drive greater network efficiency,
prioritize the development of higher-margin, value-added
products, and improve the company's market competitiveness.

The company reported these changes in the roles and
responsibilities of senior management positions, all of which
will report directly to CEO Fernando Aguirre:

   * Michel Loeb, President, Europe and Middle East

     Mr. Loeb will be responsible for all aspects of the
     company's operations throughout Europe and the Middle
     East, including bananas, other produce and diversified
     value-added products such as Just Fruit in a Bottle.  Mr.   
     Loeb joined Chiquita in 2004 and served most recently as
     president, Chiquita Fresh Group - Europe.  He has more
     than 25 years of senior management and consumer marketing
     expertise, including experience at S.C. Johnson & Son and
     Nestle.

   * Brian W. Kocher, President, North America

     Mr. Kocher will be responsible for all aspects of the
     company's operations in North America, including value-
     added salads, bananas and other produce.  Mr. Kocher
     joined Chiquita in 2005 and served most recently as vice
     president, controller and chief accounting officer.  He
     brings more than 15 years of accounting, sales, finance
     and business process change expertise, including previous
     work experience at General Electric and Hill-Rom.

   * Tanios Viviani, President, Global Innovation and Emerging
     Markets, and Chief Marketing Officer

     Mr. Viviani joined Chiquita in 2004 and has served since
     June 2005 as president of the Fresh Express Group.  In his
     new role, Mr. Viviani will be responsible for the
     company's consolidated innovation, research, quality and
     product development initiatives worldwide, as well as
     having profit-and-loss responsibilities over certain
     emerging markets, such as Asia.  He will also coordinate    
     all marketing globally.  Before joining Chiquita, Mr.
     Viviani served for 16 years at Procter & Gamble in various
     general management, operations and new business
     development roles in the United States, Latin America and
     Asia.

   * Waheed Zaman, Senior Vice President, Product Supply
     Organization

     In this role, Mr. Zaman will lead the company's end-to-end
     supply chain, driving excellence and efficiency in the
     company's global sourcing and processing operations.  Mr.
     Zaman joined Chiquita in 2004 and served most recently as
     senior vice president, supply chain and procurement.  
     Before coming to Chiquita, Zaman held a variety of senior-
     level information technology and business process
     improvement positions during his 15 years with Procter &
     Gamble.

   * Kevin Holland, Senior Vice President, Chief People Officer

     Mr. Holland joined Chiquita in 2005 and has served most
     recently as senior vice president of human resources.  In
     this expanded role, Mr. Holland will be responsible for
     the execution of this restructuring effort.  He will
     continue to be responsible for human resources in addition
     to various corporate support functions worldwide,
     including information technology, communications,
     administrative services and security.  Before joining
     Chiquita, Mr. Holland held various senior human resources
     roles at Coors, Kinko's, Gateway and Abbott Laboratories.

The roles and responsibilities of these leaders who also report
to the CEO remain largely unchanged: Jeffrey M. Zalla, senior
vice president and chief financial officer; James E. Thompson,
senior vice president, general counsel and secretary; and Manuel
Rodriguez, senior vice president, government and international
affairs and corporate responsibility officer.

In conjunction with these organization changes, the president
and chief operating officer role at Chiquita Fresh Group has
been eliminated.  As a result, Bob Kistinger, who has served in
that capacity, has been appointed president, special
assignments.  Mr. Kistinger will serve in that role until the
end of the year, at which time he will be leaving the company to
pursue new opportunities.

"I wish to thank Bob for his many significant contributions and
for his dedication and loyalty to Chiquita for more than a
quarter century," Mr. Aguirre said.  "While we will certainly
miss the benefit of his extensive industry knowledge, Bob
developed a strong team of leaders in the company, several of
whom will take over the daily duties of his position."

                    Business Model Changes

Chiquita disclosed the downsizing of its operations in Chile and
the exit from certain unprofitable farm leases.  The company is
making several additional structural changes that will take
place over the next several months:

    * Network Optimization in North American Value-Added Salads

      The company's recent acquisition of the Verdelli Farms
      production facility in Harrisburg, Pennsylvania, will
      allow Fresh Express to rebalance its production and
      distribution network for value-added salads.  To optimize
      network efficiency, the company has decided to close its
      distribution center in Greencastle, Pennsylvania, and
      production facility in Carrollton, Georgia, over the next
      several months.  Closing these two facilities will reduce
      operating costs while further improving the freshness of
      products the company supplies to customers.  The company
      employs approximately 240 people at Carrollton and 40
      people at Greencastle.

    * Exit from U.S. Fruit Bowl Business

      Chiquita has thoroughly reviewed its fresh-cut fruit
      business and has decided to focus on its line of healthy
      snacks, such as Chiquita Apple Bites, which have achieved
      market share leadership and wide acceptance from
      customers and consumers.  However, the company's line of
      fresh-cut fruit bowls will be discontinued over the next
      several months.  As a result, the company will convert
      facilities in Edgington, Illinois, and Salinas,
      California, to focus on the production and distribution
      of value-added salads and healthy snacks.  This change
      will eliminate approximately 130 full-time positions
      dedicated to fruit-bowl production.

    * Closure of Distribution Facility

      In conjunction with the company's consolidation of its
      North American logistics operations, Chiquita will close
      its banana distribution facility in Bradenton, Florida,
      by year end.  Closing the Bradenton facility will reduce
      operating costs and is not expected to impact its current
      customers, which will continue to be served from the
      company's distribution center at Port Everglades,
      Florida.  Chiquita employs 15 people at Bradenton.

    * Exploring Strategic Alternatives for Atlanta AG

      Chiquita acquired full ownership of Atlanta AG in 2003
      and executed a successful three-year cost-saving
      turnaround plan for this unit, which has annual revenues
      in excess of US$1 billion and leading market share in the
      fruit and vegetable distribution sector in Germany and
      Austria.  During the past two years, however, various
      macro-level market influences, including changes in the
      E.U. banana import regime, stiff price competition and
      consolidation of the retail sector, have combined to
      reduce Atlanta's profitability.  In addition, while
      Atlanta has significant strengths, management has
      determined that its commodity distribution business is
      not a strong fit with Chiquita's long-term strategy.  As
      a result, the company has launched a process to explore
      strategic alternatives for this unit, including a
      possible sale.  To assist with this effort, Chiquita has
      retained Taylor Companies, Inc., a Washington, D.C.-based
      investment bank specializing in synergistic mergers and
      acquisitions.  The company does not expect to disclose
      developments with respect to this process unless and
      until its board of directors has approved a definitive
      transaction.  There can be no assurance that these
      activities will ultimately lead to an agreement or a
      transaction.

           Updating Long-Term Growth Objectives in 2008

"With these actions, we are taking a major step forward to
create a more positive future for Chiquita," Mr. Aguirre
concluded.  "Furthermore, these actions will strengthen our
corporate culture and help us become more innovative and
customer-focused.  This restructuring does not change our
strategic focus; rather, I am confident that by simplifying the
organization, consolidating operations and reducing costs, we
will improve our profitability and accelerate our ability to
achieve sustainable growth.  With these changes, however, we
will need to redefine our growth targets, since the negative
impacts of rising industry costs, the E.U. tariff regime and the
E. coli event have slowed down our strategic growth plan
considerably, such that reaching our goals will take us longer
than we originally estimated.  We expect to provide more
information about these long-term financial goals early in
2008."

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

                         *     *     *

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


SOLUTIA INC: Receives US$2 Billion Exit Loan Commitment
-------------------------------------------------------
Solutia Inc. has received a fully underwritten commitment for
US$2 billion of exit financing.  The company has also arranged
for a fully backstopped rights offering that will raise
US$250 million in new equity capital.

Solutia will use the exit loan funds to pay certain creditors
upon emergence from Chapter 11 pursuant to its plan of
reorganization, and for its ongoing operations after emergence.  
Citi, Goldman Sachs, and Deutsche Bank Securities Inc. are
acting as joint lead arrangers and joint bookrunners for the
exit financing.

"With this commitment, we are well on our way to achieving the
fourth and final component of the reorganization strategy we
identified at the outset of our case, which is to put in place
an appropriate capital structure for the company," Jeffry N.
Quinn, chairman, president and chief executive officer of
Solutia Inc., said in a news statement.

The exit financing package includes:

   -- a US$400 million senior secured asset-based revolving   
      credit facility;

   -- a US$1.2 billion senior secured term loan facility; and

   -- a US$400 million senior unsecured bridge facility.

"Despite the recent turbulence in the debt capital markets, we
have obtained an exit financing package that will position
Solutia for continued success and provide adequate funds to
deliver on our business strategies," James M. Sullivan, senior
vice president and chief financial officer, Solutia Inc., said.

Solutia will use the proceeds of the rights offering to fund
retiree benefits and retained legacy liabilities.  The rights
offering is backstopped by Highland Capital Management, UBS
Securities, Longacre Fund Management, Southpaw Asset Management,
Merrill Lynch Pierce Fenner & Smith Incorporated, and others.

The rights offerings will only be open to certain of Solutia's
creditors and holders of Solutia's common stock.  A registration
statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become
effective.  The securities may not be sold nor may offers to buy
be accepted prior to the time the registration statement becomes
effective.  A written prospectus, when available, for the rights
offerings may be obtained from:

     Financial Balloting Group, LLC
     757 Third Avenue, 3rd Floor
     New York, NY 10017
     http://www.fbgdocuments.com/soi

The exit financing and equity rights offering backstop
commitments require the approval of the United States Bankruptcy
Court for the Southern District of New York.

The Court has set a confirmation hearing for Nov. 29, 2007, to
approve Solutia's amended plan of reorganization.  Solutia
expects to emerge from bankruptcy by the end of the year.

                       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.

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 US$2,854,000,000 in assets and US$3,223,000,000 in debts.

Solutia is represented by Richard M. Cieri, Esq., Jonathan S.
Henes, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis
LLP, in New York, as lead bankruptcy counsel, and David A.
Warfield, Esq., and Laura Toledo, Esq., at Blackwell Sanders
LLP, in St. Louis Missouri, as special counsel.  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. The Official Committee of
Retirees of Solutia, Inc., et al., is represented by Daniel D.
Doyle, Esq., Nicholas A. Franke, Esq., and David M. Brown, Esq.,
at Spencer Fane Britt & Browne, LLP, in St. Louis, Missouri, and
Frank M. Young, Esq., Thomas E. Reynolds, Esq., R. Scott
Williams, Esq., at Haskell Slaughter Young & Rediker, LLC, in
Birmingham, Alabama.

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 Bankruptcy Court approved the Debtors'
amended Disclosure Statement on Oct. 19, 2007.  A hearing to
consider confirmation of the Debtors' Reorganization Plan is
scheduled for Nov. 29, 2007. (Solutia Bankruptcy News;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).   


SOLUTIA INC: Court Urges Resolution of Bank of New York Dispute
---------------------------------------------------------------
"Pigs become hogs and then hogs get slaughtered. And then eaten.
What you're going for is so piggy that you risk getting
nothing," Judge Prudence Beatty at the United States Bankruptcy
Court for the Southern District of New York told a lawyer for
The Bank of New York at an Oct. 31 hearing in Solutia, Inc.'s
case, Bloomberg News reports.

John K. Cunningham, Esq., at White & Case LLP, in New York,
appeared before the Court on behalf of Bank of New York,
regarding a US$223,000,000 claim by the bank on account of the
11.25% Senior Secured Notes due 2009 issued by Solutia Inc. or
its predecessor.  Bank of New York serves as indenture trustee
for the Senior Notes.

Mr. Cunningham has argued that under New York law -- which
governs the Indenture and Guaranties entered into by the parties
-- Bank of New York, as the Senior Secured Notes Trustee, has a
direct claim against Solutia and each of the Subsidiary
Guarantors and, if unpaid, could obtain a judgment for the full
US$223,000,000 principal amount of the Senior Secured Notes plus
damages for any defeasance not in accordance with the Indenture.

Mr. Cunningham also has asserted that effectiveness of Solutia's
Plan of Reorganization will trigger a change in control under
the Indenture giving the Senior Secured Noteholders a right to
defeasance and a minimum claim of US$245,300,000.  Mr.
Cunningham said the Court has preliminarily recognized that
consummation of the transactions contemplated by the Plan, on
the effective date, will cause a "Change of Control."

According to Mr. Cunningham, each Senior Secured Noteholder has
the contractual right to require Solutia to purchase its Senior
Secured Notes for an amount equal to the Change of Control
Amount.  If all of the Senior Secured Noteholders elect to
tender their Senior Secured Notes in exchange for the Change of
Control Amount, that amount at a minimum is US$225,230,000, plus
accrued and unpaid interest.

Solutia and its Official Committee of Unsecured Creditors have
argued that the Noteholders are entitled to a claim for not more
than the principal amount funded on account of the Notes --
US$181,700,000 -- at issuance plus any original issue discount
that accrues through the effective date of the Plan --
US$28,200,000.

They have accused Bank of New York of trying to secure up to
US$50,000,000 in windfall at the expense of junior creditors.

Daniel H. Golden, Esq., at Akin Gump Strauss Hauer & Feld LLP,
in New York, counsel to the Creditors Committee, has pointed out
that the Second Circuit is clear that unamortized original issue
discount is unmatured interest -- not principal. Moreover, Mr.
Golden has said, Section 506(b) of the Bankruptcy Code does not
entitle Noteholders, as oversecured creditors, to recover
interest that is unmatured as of the date of payment of their
claim.

Tiffany Kary at Bloomberg News relates that an OID bond is one  
issued at a price below par, with OID being considered a form of
interest.  When the US$223,000,000 face amount 2009 notes was
issued, Solutia received only US$181,700,000.  The missing
US$41,300,000 was considered unmatured interest, Ms. Kary says.

According to Ms. Kary, Judge Beatty said the bank's claim amount
could be as much as US$60,000,000.

At the hearing, Judge Beatty urged Solutia to settle its dispute
with Bank of New York, noting that the claim was the biggest
hurdle to approval of Solutia's reorganization plan, Ms. Kary
reports.

"There are no cases that I have found which remotely approximate
the application of these principles to a case of this financial
magnitude," Ms. Kary quotes Judge Beatty as saying.

Judge Beatty said if no settlement is reached she will rule on
the matter in about two weeks.

                       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.

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 US$2,854,000,000 in assets and US$3,223,000,000 in debts.

Solutia is represented by Richard M. Cieri, Esq., Jonathan S.
Henes, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis
LLP, in New York, as lead bankruptcy counsel, and David A.
Warfield, Esq., and Laura Toledo, Esq., at Blackwell Sanders
LLP, in St. Louis Missouri, as special counsel.  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. The Official Committee of
Retirees of Solutia, Inc., et al., is represented by Daniel D.
Doyle, Esq., Nicholas A. Franke, Esq., and David M. Brown, Esq.,
at Spencer Fane Britt & Browne, LLP, in St. Louis, Missouri, and
Frank M. Young, Esq., Thomas E. Reynolds, Esq., R. Scott
Williams, Esq., at Haskell Slaughter Young & Rediker, LLC, in
Birmingham, Alabama.

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 Bankruptcy Court approved the Debtors'
amended Disclosure Statement on Oct. 19, 2007.  A hearing to
consider confirmation of the Debtors' Reorganization Plan is
scheduled for Nov. 29, 2007.  (Solutia Bankruptcy News;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


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


HILTON HOTELS: Names Christopher Nassetta as President & CEO
------------------------------------------------------------
Hilton Hotels Corporation has appointed Christopher J. Nassetta
as its President and Chief Executive Officer.  Mr. Nassetta
currently leads Host Hotels and Resorts, the largest owner of
luxury and upscale hotels in the world.  Mr. Nassetta joins
Hilton as the company moves into an exciting new phase of
growth, both in the U.S. and abroad.

The Blackstone Group's real estate and corporate private equity
funds completed the acquisition of Hilton on Oct. 24, 2007.
Blackstone views Hilton as an important strategic investment and
intends to invest in its properties and brands to enhance the
Company's growth.  As stated at the time of the initial
announcement in July, Blackstone has no intention of selling any
brands or major assets as a result of the transaction.

Jonathan Gray, Senior Managing Director, Blackstone said, "Our
goal with Hilton is to build the premier global hospitality
company.  We are confident that Chris will be a superb addition
to the already strong Hilton team.  Given his background
overseeing the world's largest hotel ownership company, Chris
understands the needs of hotel owners and is uniquely qualified
to lead Hilton.  I've known Chris personally for 15 years and
have worked successfully side-by-side with him in the past.
He's a man of the absolute highest integrity, who cares deeply
about people.  He has the energy, enthusiasm and experience to
lead Hilton, and it's with great pleasure that we welcome him to
the team."

Blackstone's strategy includes maintaining strong unit growth in
the U.S., where more than 20% of all hotel rooms currently under
construction carry a Hilton brand.  Blackstone will also invest
to accelerate the company's international growth, building on
recent agreements to expand the Hilton family of brands outside
of the U.S. through a series of strategic partnerships.  It was
only last year that Hilton merged with Hilton International, a
transaction, which created a new set of global opportunities for
the company.  Additionally, Blackstone intends to incorporate a
significant portion of its existing portfolio of luxury hotels
and resorts onto the Hilton platform, adding to the luxury
offerings available to Hilton customers.  Blackstone's holdings
include such upscale properties as The Boulders Resort and Spa
(Arizona), The El Conquistador Resort (Puerto Rico), and The
Boca Raton Resort and Club (Florida).

Chris Nassetta commented, "I am excited to join this great
company and am looking forward to working with Hilton's
franchisees, owners and team members to grow this already
impressive franchise.  Hilton has a powerful collection of
brands and we now have the opportunity to build on the strong
foundation that already exists to drive the company's growth,
particularly overseas, to create the pre-eminent lodging company
in the world.  I also look forward to working with Blackstone,
who I know from experience will be a terrific strategic partner
for Hilton going forward."

As President and CEO of Hilton, Mr. Nassetta will oversee
Hilton's extensive line of quality brands, including: Hilton,
Conrad, Doubletree, Embassy Suites, Hampton, Hilton Garden Inn,
Hilton Grand Vacations, Homewood Suites by Hilton, and The
Waldorf=Astoria Collection.  Mr. Nassetta intends to work
closely with the existing management team, including Thomas
Keltner, Chief Executive Officer - Americas and Global Brands,
and Ian Carter, Chief Executive Officer - Hilton International.
As previously announced, Stephen F. Bollenbach retired from the
company last week upon the completion of the transaction.
Additionally, Matthew J. Hart will step down as president and
chief operating officer but will serve as a member of Hilton's
Board of Directors.

                  About Christopher Nassetta

Christopher J. Nassetta will join Hilton Hotels Corp. from Host
Hotels & Resorts, where he has been President and Chief
Executive Officer since 2000.  Prior to joining Host, Mr.
Nassetta co-founded Bailey Capital Corporation in 1991, where he
was responsible for the operations of the real estate investment
and advisory firm. He also spent seven years serving as Chief
Development Officer and in various other positions with The
Oliver Carr Company.  Mr. Nassetta serves as a Director of
CoStar Group, Inc., is Second Vice Chair and serves on the Board
of Governors of National Association of Real Estate Investment
Trusts, is a member and chairman of The Real Estate Roundtable,
and is a member of the McIntire School of Commerce Advisory
Board for the University of Virginia.

Mr. Nassetta graduated from the University of Virginia McIntire
School of Commerce with a degree in finance and studied
international finance at the London School of Economics.

                      About Hilton Hotels

Headquartered in Beverly Hills, California, Hilton Hotels Corp.
-- http://www.hilton.com/-- together with its subsidiaries,  
engages in the ownership, management, and development of hotels,
resorts, and timeshare properties, as well as in the franchising
of lodging properties in the United States and internationally,
including Australia, Austria, Barbados, Finland, India,
Indonesia, Trinidad and Tobago, Philippines and Vietnam.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 29, 2007, Moody's Investors Service downgraded Hilton
Corporation's  Corporate Family Rating and senior unsecured
ratings to B3 and  Caa1, respectively.


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


ALCATEL-LUCENT SA: Posts EUR318 Million Net Loss in 3rd Quarter
---------------------------------------------------------------
Alcatel-Lucent S.A. posted a EUR318 million net loss on
EUR4.35 billion net revenues for the third quarter 2007.  For
the quarter, the company reported a EUR345 million group net
loss, including EUR87 million in impact from purchase price
allocation entries.

Alcatel-Lucent also provided adjusted financial results to show
provide comparable information, which exclude the main non-cash
impacts from purchase price allocation entries.  

For the third quarter, Alcatel-Lucent posted EUR231 million in
adjusted net loss and EUR258 million in adjusted group net loss.

As of Sept. 30, 2007, the company's debts total EUR124 million.

"As you can see our results this quarter were essentially in
line with the update we provided on September 13, and in a few
areas a bit better; however they are still not at a level that
we are satisfied with," chief executive Patricia Russo said.

"We believe that our strategy, our product portfolio and our
expertise align with the long-term market drivers that will
underpin the industry for the next several years, as networks
migrate to all-IP based architecture.  During the first nine
months of operations as a single company, we strengthened our
position in key strategic markets and technologies such as IP
and mobile broadband required to position the company for long-
term sustained growth.

"Having said that, and in spite of the promise of this industry
and the long-term benefits of the merger, we recognize that
market conditions remain difficult, with continued pressure on
revenues and margins due to intensified competition and some
slowdown of spending in North America.  These market conditions
along with our commitment to transform the company for the long-
term lead us to put in place an aggressive three-part plan to
improve profitability and reposition the business."

The Board fully supports the plan presented, which includes:

   -- streamlining the core carrier business, accelerated
      product cost improvement with increased portfolio focus on
      IP transformation of wireline and wireless networks;

   -- enhancing growth by developing an offensive strategy on
      sectors offering a strong growth potential, namely:

      * high value added services and applications for the
        carrier markets;

      * solutions for the enterprise markets and Industry and
        Public Sector; and

   -- streamlining the company's organization into a simplified
      model with a focused management committee with clear
      accountabilities and ownership to quickly execute the
      plans.

This plan will result in an acceleration of cost structure
improvement, especially in support functions and other savings
arising from the realigned and streamlined Carrier Business
Group.  

The company expects that this plan will result in incremental
savings of EUR400 million in gross margin and comparable
operating expenses by the end of year 2009.  This implies an
acceleration of our ongoing headcount targets into 2008 with
incremental reductions of about 4,000 by 2009.

Ms. Russo added, "These are difficult but necessary decisions,
and we will manage these reductions with care. With this plan,
the company is targeting gross margins in the high 30’s and
operating margins of 10% or better in the post integration phase
beginning 2010."

                             Outlook

For the fourth quarter 2007 the company expects a solid ramp up
in revenue over the third quarter 2007.  For the full year,
given some of the recent uncertainty seen in the market,
revenues are likely to be around flat at constant Euro/US$
exchange rate which is at the low end of the range previously
provided.

                       About Alcatel-Lucent

Headquartered in Paris, France, Alcatel-Lucent S.A. --
http://www.alcatel-lucent.com/-- provides solutions that enable
service providers, enterprises and governments worldwide to
deliver voice, data and video communication services to end
users.

Alcatel-Lucent maintains operations in 130 countries, including,
Austria, Germany, Hungary, Italy, Netherlands, Ireland, Canada,
United States, Costa Rica, Dominican Republic, El Salvador,
Guatemala, Peru, Venezuela, Indonesia, Australia, Brunei and
Cambodia.

                         *     *     *

As reported on April 13, 2007, Fitch Ratings affirmed Alcatel-
Lucent's ratings at Issuer Default 'BB' with a Stable Outlook,
senior unsecured 'BB' and Short-term 'F2' and simultaneously
withdrawn them.

As of Feb. 7, 2007, Moody's Investor Services put a Ba2 rating
on Alcatel's Corporate Family and Senior Debt rating.  Lucent
carries Moody's B1 Senior Debt rating and B2 Subordinated debt &
trust preferred rating.

Alcatel-Lucent's Long-Term Corporate Credit rating and Senior
Unsecured Debt carry Standard & Poor's Ratings Services' BB
rating.  Its Short-Term Corporate Credit rating stands at B.


ALCATEL-LUCENT SA: Forms Regional Units & Management Committee
--------------------------------------------------------------
Alcatel-Lucent S.A., as part of its plan to improve
profitability, has streamlined its regional structure and
established a seven-member management committee reporting
directly to chief executive Patricia Russo to lead the overall
operation of the company, creating a more focused and efficient
operating model.

                       Regional Structure

To streamline the company's regional operations two regional
structures will be created, one for the Americas and one that
includes Asia Pacific, Europe, Africa and the Middle East.

Frederic Rose, who currently heads the Asia-Pacific Region, will
assume additional responsibilities for the company’s current
Europe & North and Europe & South regions.  Cindy Christy, will
lead the Americas Region.  Mr. Rose and Ms. Christy will
continue to report directly to Patricia Russo.

Olivier Picard, head of the Europe and South region will
continue to oversee the Europe and South region, reporting to
and serving as deputy to Frederic Rose.  Christian Reinaudo,
head of the Europe and North region, will be leaving the company
to pursue other opportunities.

"I would like to thank Christian for his outstanding
contribution during the more than 29 years he has been with this
company," Ms. Russo said.  "He has held many leadership
positions within the company and was a key driver for our
optical business, having served as president of Alcatel’s
optical activities and its submarine unit.  He laid the
foundation for the growing success of our Asia-Pacific Region
and has been a critical player in this first stage of our
integration efforts.  I wish him even more success in the
future."

                    New Management Committee

The role of this committee encompasses the company’s strategy,
organization, corporate policy matters, long term financial
planning and human resources strategy.  It is charged with
assuring the execution of the company’s plans and business
performance.

The management committee will comprise seven business leaders:

   -- Cindy Christy, Americas Region;

   -- Etienne Fouques, Research, CTO, Strategy and Corporate
      Marketing;

   -- John Meyer, Services;

   -- Claire Pedini, Corporate Human Resources and  
      Communications;

   -- Hubert de Pesquidoux, CFO;  

   -- Michel Rahier, Carrier Business Group; and

   -- Frederic Rose, Europe, Middle East, Africa and
      Asia Pacific.  

Janet Davidson, Chief Compliance Officer and head of the
Integration and IT, will serve as secretary for the committee.

"This streamlined management structure enables a more efficient,
more focused company with clear lines of accountability," Ms.
Russo said.  "I selected every member of this team, not only
because of his or her area of responsibility, but because they
each bring a great deal of experience in this complex and often
difficult industry and have successfully tackled a range of
challenges throughout their careers.  I look forward to their
counsel and guidance as we navigate through this next phase of
our merger, taking on the challenges and seizing on the
opportunities ahead."

                       About Alcatel-Lucent

Headquartered in Paris, France, Alcatel-Lucent S.A. --
http://www.alcatel-lucent.com/-- provides solutions that enable
service providers, enterprises and governments worldwide to
deliver voice, data and video communication services to end
users.

Alcatel-Lucent maintains operations in 130 countries, including,
Austria, Germany, Hungary, Italy, Netherlands, Ireland, Canada,
United States, Costa Rica, Dominican Republic, El Salvador,
Guatemala, Peru, Venezuela, Indonesia, Australia, Brunei and
Cambodia.

                         *     *     *

As reported on April 13, 2007, Fitch Ratings affirmed Alcatel-
Lucent's ratings at Issuer Default 'BB' with a Stable Outlook,
senior unsecured 'BB' and Short-term 'F2' and simultaneously
withdrawn them.

As of Feb. 7, 2007, Moody's Investor Services put a Ba2 rating
on Alcatel's Corporate Family and Senior Debt rating.  Lucent
carries Moody's B1 Senior Debt rating and B2 Subordinated debt &
trust preferred rating.

Alcatel-Lucent's Long-Term Corporate Credit rating and Senior
Unsecured Debt carry Standard & Poor's Ratings Services' BB
rating.  Its Short-Term Corporate Credit rating stands at B.


ALCATEL-LUCENT SA: Names Hubert de Pesquidoux as CFO
----------------------------------------------------
Alcatel-Lucent S.A. has appointed Hubert de Pesquidoux as Chief
Financial Officer, replacing Jean-Pascal Beaufret, who is
leaving the company to pursue other opportunities.  Mr.
Pesquidoux currently leads Alcatel-Lucent's Enterprise Group.  

"I want to thank Jean-Pascal for his considerable contributions
to this company.  He has been a valuable member of the team.  
His experience and dedication to this new company have helped us
through the difficult, early stages of this complex merger while
dealing with a challenging market," chief executive Patricia
Russo said.  

"Prior to the merger, Jean-Pascal served as CFO of Alcatel
during much of this turbulent decade in the industry, ably
helping to guide it while astutely managing the assets and
resources of the company and was instrumental in the financial
turnaround of Alcatel.  I wish him success in the next phase of
his career."

Mr. Beaufret will stay with the company for a period of time to
ensure a smooth transition.

"I am looking forward to working with his successor, Hubert, who
has been a key contributor to the success of our Enterprise
business," Ms. Russo added.  "Hubert has a great deal of
experience in both operational and financial roles throughout
his career."

Before his position as head of the company’s Enterprise
activities, Mr. de Pesquidoux held several finance positions.    
He was Chief Financial Officer of Alcatel North America,
Corporate Treasurer of Alcatel for four years and spent four
years in investment banking, including two years in New York
City.  He also has led Alcatel’s North America operations and
was a member of the Alcatel Executive Committee.  He joined
Alcatel in 1991.  

Mr. de Pesquidoux’s replacement for his current position will be
named at a later date.

                       About Alcatel-Lucent

Headquartered in Paris, France, Alcatel-Lucent S.A. --
http://www.alcatel-lucent.com/-- provides solutions that enable
service providers, enterprises and governments worldwide to
deliver voice, data and video communication services to end
users.

Alcatel-Lucent maintains operations in 130 countries, including,
Austria, Germany, Hungary, Italy, Netherlands, Ireland, Canada,
United States, Costa Rica, Dominican Republic, El Salvador,
Guatemala, Peru, Venezuela, Indonesia, Australia, Brunei and
Cambodia.

                         *     *     *

As reported on April 13, 2007, Fitch Ratings affirmed Alcatel-
Lucent's ratings at Issuer Default 'BB' with a Stable Outlook,
senior unsecured 'BB' and Short-term 'F2' and simultaneously
withdrawn them.

As of Feb. 7, 2007, Moody's Investor Services put a Ba2 rating
on Alcatel's Corporate Family and Senior Debt rating.  Lucent
carries Moody's B1 Senior Debt rating and B2 Subordinated debt &
trust preferred rating.

Alcatel-Lucent's Long-Term Corporate Credit rating and Senior
Unsecured Debt carry Standard & Poor's Ratings Services' BB
rating.  Its Short-Term Corporate Credit rating stands at B.


HARMAN INT'L: Names Messrs. Einsmann & Caroll as Board Members
--------------------------------------------------------------
Harman International Industries, Incorporated has appointed Dr.
Harald Einsmann and Brian F. Carroll to serve as members of the
company's Board of Directors.  In connection with these
appointments, the Board was expanded from five to seven members.

Dr. Einsmann currently serves as a director of Tesco Plc, the
Carlson Group, a provider of business and leisure travel, hotel,
restaurant, cruise and marketing services, Checkpoint Systems,
Inc., a provider of integrated system solutions for retail
security, labeling, and merchandising, and Rezidor Hotel Group
in Scandinavia.  From 2000 to 2006, Dr. Einsmann also served as
an Operating Partner and a member of the Board of
Directors/Investment Committee of EQT, a leading European
Private Equity Group sponsored by the Wallenberg group of
Scandinavia.  Prior to joining EQT, Dr. Einsmann held senior
management positions, as well as a seat on the Worldwide Board
at The Procter and Gamble Company.

Mr. Carroll has been a member of Kohlberg Kravis Roberts & Co.
L.P. since January 2006 and before that, an executive of KKR
since July 1999.  In addition, Mr. Carroll was an executive at
KKR from 1995 to 1997, at which time he left KKR to attend
business school at Stanford University.  Prior to joining KKR in
1995, Mr. Carroll was with Donaldson, Lufkin & Jenrette.  Mr.
Carroll is also a member of the board of directors of Rockwood
Specialties Group, Inc. and Sealy Corporation.

Sidney Harman, Executive Chairman, and Dinesh Paliwal, Chief
Executive Officer, commented: "We are delighted that Harald and
Brian are joining the Board.  Harald brings to the Board a
wealth of industry knowledge and leadership in the European
consumer goods marketplace.  We will benefit from his decades of
experience and from his international perspective.  Brian adds
financial expertise to our Board.  He has a thorough knowledge
of the Company, its operations and management team and of our
challenges and opportunities."

Headquartered in Washington, D.C., Harman International
Industries Inc. (NYSE: HAR) -- http://www.harman.com/-- makes  
audio systems through auto manufacturers, including
DaimlerChrysler, Toyota/Lexus, and General Motors.  Also the
company makes audio equipment, like studio monitors, amplifiers,
microphones, and mixing consoles for recording studios, cinemas,
touring performers, and others.  Harman Int'l has operations in
Japan, Mexico, and France.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 26, 2007, Standard & Poor's Ratings Services revised its
CreditWatch implications for the 'BB-' corporate credit rating
on Harman International Industries Inc. to positive from
developing.


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


AOK BAYERN: Claims Registration Ends December 7
-----------------------------------------------
Creditors of AOK Bayern have until Dec. 7 to register their
claims with court-appointed insolvency manager Axel Bierbach.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Jan. 8, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Axel Bierbach
         Schwanthaler Str. 32
         80336 Munich
         Germany
         Tel: 089/54511-0
         Fax: 089/54511444
         
The District Court of Munich opened bankruptcy proceedings
against AOK Bayern on Oct. 12.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         AOK Bayern
         Landsberger Str. 150-152
         80339 Munich
         Germany


ARCUS HAUSHALTWAREN: Claims Registration Period Ends Nov. 15
------------------------------------------------------------
Creditors of arcus Haushaltwaren Vertriebs-GmbH have until
Nov. 15 to register their claims with court-appointed insolvency
manager Stefan Conrads.

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

The meeting of creditors will be held at:

         The District Court of 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:

         Stefan Conrads
         Mankhauser Str. 7A
         42699 Solingen
         Germany
         Tel: 0212/22172-0
         Fax: 0212/22172-18

The District Court of Wuppertal opened bankruptcy proceedings
against arcus Haushaltwaren Vertriebs-GmbH on Oct. 15.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         arcus Haushaltwaren Vertriebs-GmbH
         Attn: Bernd Schmidt, Manager
         Schuetzenstrasse 55
         42659 Solingen
         Germany


ATL ENGINEERING: Claims Registration Period Ends December 7
-----------------------------------------------------------
Creditors of ATL Engineering GmbH have until Dec. 7 to register
their claims with court-appointed insolvency manager Anton
Rosenauer.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Jan. 10, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Stuttgart
         Room 13
         Ground Floor
         Hauffstr. 5 (Am Neckartor)
         70190 Stuttgart
         Germany

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

The insolvency manager can be reached at:

         Anton Rosenauer
         Industriestr. 3
         70565 Stuttgart
         Germany
         Tel.: 0711/2 31 75 93
         Fax: 0711/2 31 75 94
         
The District Court of Stuttgart opened bankruptcy proceedings
against ATL Engineering GmbH on Oct. 11.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         ATL Engineering GmbH
         Attn: Mike Drew, Manager
         Tilsiter Str. 4-6
         71065 Sindelfingen
         Germany


BAHA-HANDELS-GMBH: Claims Registration Period Ends December 10
--------------------------------------------------------------
Creditors of BAHA-Handels-GmbH have until Dec. 10 to register
their claims with court-appointed insolvency manager Tobias
Hoefer.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Jan. 8, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Tobias Hoefer
         Wermbachstr. 19
         63739 Aschaffenburg
         Germany

The District Court of Aschaffenburg opened bankruptcy
proceedings against BAHA-Handels-GmbH on Oct. 10.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         BAHA-Handels-GmbH
         Glattbacher Str. 88
         63741 Aschaffenburg
         Germany


CLUB DISCOTHEK: Creditors' Meeting Slated for Dec. 17
-----------------------------------------------------
The court-appointed insolvency manager for Club Discothek
Palatin GmbH & Co KG, Stephan Kallenberg, will present his first
report on the company's insolvency proceedings at a creditors'
meeting at 10:00 a.m. on Dec. 17.

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

         The District Court of Mainz
         Hall 174
         Building B
         Ernst-Ludwig Strasse 7
         55116 Mainz
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report at 10:00 a.m. on Feb. 11, 2008, at the same
venue.

Creditors have until Dec. 20 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Stephan Kallenberg
         GF 47
         Neutorstrasse 9
         D 55116 Mainz
         Germany
         Tel: 06131/146740
         Fax: 06131/1467420

The District Court of Mainz opened bankruptcy proceedings
against Club Discothek Palatin GmbH & Co KG on Oct. 11.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Club Discothek Palatin GmbH & Co KG
         Bahnhofstr. 56a
         55278 Hahnheim
         Germany


DSB DIETER: Claims Registration Period Ends December 10
-------------------------------------------------------
Creditors of DSB Dieter Schubert GmbH & Co. have until Dec. 10
to register their claims with court-appointed insolvency manager
Joachim Voigt-Salus.

Creditors and other interested parties are encouraged to attend
the meeting at 10:05 a.m. on Jan. 10, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Charlottenburg
         Hall 218
         Second Floor
         Amtsgerichtsplatz 1
         14057 Berlin
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Joachim Voigt-Salus
         Rankestrasse 33
         10789 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against DSB Dieter Schubert GmbH & Co. on Oct. 10.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         DSB Dieter Schubert GmbH & Co.
         Potsdamer Str. 16-17
         14163 Berlin
         Germany


ECOMIZE GMBH: Claims Registration Period Ends November 27
---------------------------------------------------------
Creditors of ecomize GmbH have until Nov. 27 to register their
claims with court-appointed insolvency manager Rudolf Rossmann.

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

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

The insolvency manager can be reached at:

         Rudolf Rossmann
         Weisskopfstr. 13
         86343 Koenigsbrunn
         Germany
         
The District Court of Augsburg opened bankruptcy proceedings
against ecomize GmbH on Oct. 5.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         ecomize GmbH
         Attn: Konrad Harle and Frank Thesmann, Managers
         Goegginger Str. 62
         86159 Augsburg
         Germany


EXPRESS DIENSTLEISTUNGS: Claims Registration Period Ends Nov. 14
----------------------------------------------------------------
Creditors of Express Dienstleistungs GmbH have until Nov. 14 to
register their claims with court-appointed insolvency manager
Henning Mordhorst.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Dec. 14, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Meldorf
         Hall II
         Domstrasse 1
         25704 Meldorf
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Henning Mordhorst
         Jungfernstieg 51
         20354 Hamburg
         Germany
         Tel: 040/808136400

The District Court of Meldorf opened bankruptcy proceedings
against Express Dienstleistungs GmbH on Oct. 12.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Express Dienstleistungs GmbH
         Attn:  Aiman El-Hosary, Manager
         Heistedter Strasse 10
         25746 Heide
         Germany


GESELLSCHAFT FUER: Claims Registration Period Ends Dec. 12
----------------------------------------------------------
Creditors of Gesellschaft fuer Immobilienhandel und Planung mbH
have until Dec. 12 to register their claims with court-appointed
insolvency manager Thomas Schmitz.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Jan. 11, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Duisburg
         Hall C205
         Second Floor
         Kardinal-Galen-Strasse 124-132
         47058 Duisburg
         Germany

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

The insolvency manager can be reached at:

          Thomas Schmitz
          Am Flohbusch 1
          47802 Krefeld
          Germany

The District Court of Duisburg opened bankruptcy proceedings
against Gesellschaft fuer Immobilienhandel und Planung mbH on
Oct. 11.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

          Gesellschaft fuer Immobilienhandel und Planung mbH
          Heinrich-von-Gemen-Str. 8
          46514 Schermbeck
          Germany


NATURSTEIN DEMIC: Claims Registration Period Ends Dec. 11
---------------------------------------------------------
Creditors of Naturstein Demic GmbH have until Dec. 11 to
register their claims with court-appointed insolvency manager
Torsten Gutmann.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on Jan. 11, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Gifhorn
         Hall 118
         Schlossgarten 4
         38518 Gifhorn
         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
         Zum Blauen See 5
         31275 Lehrte
         Germany
         Tel: 05132/82680
         Fax: 05132/8268-96

The District Court of Gifhorn opened bankruptcy proceedings
against Naturstein Demic GmbH on Oct. 12.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Naturstein Demic GmbH
         Gneisenaustr. 2
         31275 Lehrte
         Germany


RAINERS PFLANZENPARADIES: Claims Registration Ends Nov. 13
----------------------------------------------------------
Creditors of Rainers Pflanzenparadies GmbH have until Nov. 13 to
register their claims with court-appointed insolvency manager
Peter C. Darr.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 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 Kempten
         Room Number 137/I
         Residezplatz 4-6
         87435 Kempten
         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:

         Peter C. Darr
         Candidplatz 13
         81543 Munich
         Germany
         Tel: (089) 614 69 60
         Fax: (089) 614 69-666

The District Court of Kempten opened bankruptcy proceedings
against Rainers Pflanzenparadies GmbH on Oct. 9.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Rainers Pflanzenparadies GmbH
         Muenchener Strasse 42
         86450 Buchloe
         Germany


RESM GMBH: Claims Registration Period Ends Nov. 13
--------------------------------------------------
Creditors of RESM - Real Estate Service & Management GmbH have
until Nov. 13 to register their claims with court-appointed
insolvency manager Dieter Rasehorn.

Creditors and other interested parties are encouraged to attend
the meeting at 1:00 p.m. on Dec. 11, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Dessau
         Hall 123
         Willy-Lohmann-Str. 33
         Dessau
         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:

         Dieter Rasehorn
         Muehlweg 16
         06108 Halle
         Germany
         Tel: 0345/5220024
         Fax: 0345/5220026

The District Court of Dessau opened bankruptcy proceedings
against RESM - Real Estate Service & Management GmbH on Oct. 12.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         RESM - Real Estate Service & Management GmbH
         Birkenbreite 28
         06847 Dessau-Rosslau
         Germany

         Erik Schilling, Manager
         Wallburgstrasse 7
         06847 Dessau-Rosslau
         Germany


ROOSTER CLOTHING: Claims Registration Period Ends November 23
-------------------------------------------------------------
Creditors of ROOSTER Clothing Company Vertriebs GmbH have until
Nov. 23 to register their claims with court-appointed insolvency
manager Martin Wagner.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Dec. 18, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Stuttgart
         Room 13
         Ground Floor
         Hauffstr. 5 (Am Neckartor)
         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:

         Martin Wagner
         Heilbronner Str. 86
         70191 Stuttgart
         Germany
         Tel: 0711/25 97 29-0
         Fax: 0711/25 97 29-999

The District Court of Stuttgart opened bankruptcy proceedings
against ROOSTER Clothing Company Vertriebs GmbH on Oct. 11.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         ROOSTER Clothing Company Vertriebs GmbH
         Attn: Hannelore Lehmann-Walz, Manager
         Eschenbruennle Str. 12-14
         71065 Sindelfingen
         Germany     


S & S MEDIENSERVICE: Claims Registration Period Ends December 10
----------------------------------------------------------------
Creditors of S & S Medienservice GmbH have until Dec. 10 to
register their claims with court-appointed insolvency manager
Dr. Gerhard Koerner.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on Dec. 12, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Aschaffenburg
         Meeting Hall 5.103
         Schlossplatz 5
         63739 Aschaffenburg
         Germany
         
The Court will verify the claims set out in the insolvency
manager's report at 11:00 a.m. on Jan. 16, 2008, at the same
venue, while creditors may constitute a creditors' committee or
opt to appoint a new insolvency manager.

The insolvency manager can be reached at:

         Dr. Gerhard Koerner
         Theresienstr. 3
         63741 Aschaffenburg
         Germany
         Tel: 06021/428 220
         Fax: 06021/428 210

The District Court of Aschaffenburg opened bankruptcy
proceedings against S & S Medienservice GmbH on Oct. 10.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         S & S Medienservice GmbH
         Brentanoplatz 1
         63739 Aschaffenburg
         Germany


SYSTEMMONTAGE WINDHORST: Claims Registration Ends Dec. 14
---------------------------------------------------------
Creditors of Systemmontage Windhorst GmbH have until Dec. 14 to
register their claims with court-appointed insolvency manager
Christian Dawe.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Jan. 14, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Hamburg
         Hall B 405
         Fourth Floor Annex
         Civil Justice Bldg.
         Sievkingplatz 1
         20355 Hamburg
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Christian Dawe
         Gaensemarkt 50
         20354 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against Systemmontage Windhorst GmbH on Oct. 11.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Systemmontage Windhorst GmbH
         Emmy-Beckmann-Weg 22
         22455 Hamburg
         Germany


ZEITUNGSVERTRIEB KARPENSTEIN: Claims Registration Ends Dec. 17
--------------------------------------------------------------
Creditors of Zeitungsvertrieb Karpenstein GmbH have until
Dec. 17 to register their claims with court-appointed insolvency
manager Goetz Lautenbach.

Creditors and other interested parties are encouraged to attend
the meeting at 9:50 a.m. on Jan. 7, at which time the insolvency
manager will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Offenbach am Main
         Hall 162N
         First Floor
         Kaiserstrasse
         63065 Offenbach am Main
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Goetz Lautenbach
         Zeilweg 42
         D 60439 Frankfurt am Main
         Germany
         Tel: 069 / 963761-130
         Fax: 069 / 963761-145

The District Court of Offenbach am Main opened bankruptcy
proceedings against Zeitungsvertrieb Karpenstein GmbH on
Oct. 11.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Zeitungsvertrieb Karpenstein GmbH
         vertr. d.d.GF
         Nelkenstrasse 24
         63263 Neu-Isenburg
         Germany


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


AES CORP: Prices Cash Tender Offer for Senior Notes
---------------------------------------------------
The AES Corporation disclosed the determination of the pricing
for its tender offer to purchase up to US$1.24 billion of
certain of its outstanding senior notes in accordance with the
terms and conditions described in its Offer to Purchase and the
related Letter of Transmittal, each dated Oct. 16, 2007.

The total consideration for each series of Notes was determined
as of 2:00 p.m., New York City time, on Oct. 29, 2007, using the
yield of the U.S. Treasury reference security plus a fixed
spread of 50 basis points.  

1) Title of Security: 8.75% Senior Notes due 2008
   CUSIP/ISIN Numbers: 00130HAV7
   Aggregate Principal Amount Outstanding: 201,809,000
   Acceptance Priority Level: 1
   Maturity Date/Earliest Redemption Date: June 15, 2007
   Par Amount/Earliest Redemption Price*: US$1,000.00
   Early Tender Premium*: US$30.00
   Reference Security: 5.125% U.S.T. Note due June 30, 2008
   Bloomberg Reference Page: PX3
   Fixed Spread (basis points): +50

2) Title of Security: 9% 2nd Priority Sr. Sec. Notes due 2015
   CUSIP/ISIN Numbers: 00130HBB0, U0080RAG5
   Aggregate Principal Amount Outstanding: US$600,000,000
   Acceptance Priority Level: 2
   Maturity Date/Earliest Redemption Date: May 15, 2008
   Par Amount/Earliest Redemption Price*: US$1,045.00
   Early Tender Premium*: US$30.00
   Reference Security: US$5.625% U.S.T. Note due May 15, 2008
   Bloomberg Reference Page: PX3
   Fixed Spread (basis points): +50


3) Title of Security: 8.75% Second Priority Senior Secured  
                      Notes due 2013
   CUSIP/ISIN Numbers: 00130HBA2, U0080RAF7
   Aggregate Principal Amount Outstanding: US$1,200,000,000
   Acceptance Priority Level: 3
   Maturity Date/Earliest Redemption Date: May 15, 2008
   Par Amount/Earliest Redemption Price*: US$1,043.75
   Early Tender Premium*: US$30.00
   Reference Security: US$5.625% U.S.T. Note due May 15, 2008
   Bloomberg Reference Page: PX3
   Fixed Spread (basis points): +50

* Per US$1,000 principal amount of Notes that are accepted for
  purchase.

                  8.75% Senior Notes due 2008

The yield on the Reference Security for the 2008 Notes was
4.087% and the tender offer yield was 4.587%.  Accordingly,
holders whose 2008 Notes that have validly tendered and not
withdrawn prior to 5:00 p.m., New York City time, on Oct. 29,
2007 and that are accepted for purchase by AES will receive
Total Consideration of US$1,025.27 per US$1,000 principal amount
of 2008 Notes tendered, plus any accrued and unpaid interest
from the last interest payment date for the 2008 Notes to, but
not including, the early settlement date, which AES occurred
Oct. 30, 2007.  Holders whose 2008 Notes that are validly
tendered after 5:00 p.m., New York City time, on Oct. 29, 2007
and at or prior to 12:00 midnight, New York City time, on Nov.
13, 2007 and that are accepted for purchase by AES will receive
the Total Consideration minus the Early Tender Premium of
US$30.00 per US$1,000 principal amount of 2008 Notes, or the
Tender Offer Consideration, plus any accrued and unpaid interest
from the last interest payment date for the 2008 Notes to, but
not including, the final settlement date, which AES expects will
occur on Nov. 14, 2007.

        9% Second Priority Senior Secured Notes due 2015

The yield on the Reference Security for the 2015 Notes was
4.123% and the tender offer yield was 4.623%.  Accordingly,
holders whose 2015 Notes that have been validly tendered and not
withdrawn prior to 5:00 p.m., New York City time, on Oct. 29,
2007 and that are accepted for purchase by AES will receive
Total Consideration of US$1,067.01 per US$1,000 principal amount
of 2015 Notes tendered, plus any accrued and unpaid interest
from the last interest payment date for the 2015 Notes to, but
not including, the early settlement date, which AES  occured
Oct. 30, 2007.  Holders whose 2015 Notes that are validly
tendered after 5:00 p.m., New York City time, on Oct. 29, 2007
and at or prior to 12:00 midnight, New York City time, on Nov.
13, 2007 and that are accepted for purchase by AES will receive
the Total Consideration set forth above minus the Early Tender
Premium of US$30.00 per US$1,000 principal amount of 2015 Notes,
or the Tender Offer Consideration, plus any accrued and unpaid
interest from the last interest payment date for the 2015 Notes
to, but not including, the final settlement date, which AES
expects will occur on Nov. 14, 2007.

     8.75% Second Priority Senior Secured Notes due 2013

The yield on the Reference Security for the 2013 Notes was
4.123% and the tender offer yield was 4.623%.  Accordingly,
holders whose 2013 Notes that have been validly tendered and not
withdrawn prior to 5:00 p.m., New York City time, on Oct. 29,
2007 and that are accepted for purchase by AES will receive
Total Consideration of US$1,063.03 per US$1,000 principal amount
of 2013 Notes tendered, plus any accrued and unpaid interest
from the last interest payment date for the 2013 Notes to, but
not including, the final settlement date, which AES expects will
occur on Nov. 14, 2007.  Holders whose 2013 Notes are validly
tendered after 5:00 p.m., New York City time, on Oct. 29, 2007
and at or prior to 12:00 midnight, New York City time, on Nov.
13, 2007 will receive the Total Consideration set forth above
minus the Early Tender Premium of US$30.00 per US$1,000
principal amount of 2013 Notes, or the Tender Offer
Consideration, plus any accrued and unpaid interest from the
last interest payment date for the 2013 Notes to, but not
including, the final settlement date.

                  Tender Offer Expires Nov. 13

Rights to withdraw tendered Notes terminated at 5:00 p.m., New
York City time, on Oct. 29, 2007.  As of such time,
US$192,501,000 principal amount of 2008 Notes, US$598,000,000
principal amount of 2015 Notes and US$1,188,039,000 principal
amount of 2013 Notes had been validly tendered and not
withdrawn.  The tender offer will expire at 12:00 p.m. midnight,
New York City time, on Nov. 13, 2007, unless extended or earlier
terminated by AES.  AES may increase or modify the Tender Cap
without extending withdrawal rights to Holders. If the aggregate
principal amount of Notes validly tendered and not withdrawn at
the Expiration Time exceeds the Tender Cap, the Company will
(subject to the terms and conditions of the offer) limit the
Notes it accepts pursuant to the Tender Cap and in accordance
with the acceptance priority levels as set forth in the Offer to
Purchase.  Since the 2008 Notes and the 2015 Notes have an
acceptance priority level of 1 and 2, respectively, and the
aggregate principal amount of the 2008 Notes and the 2015 Notes
combined is less than the Tender Cap, neither the 2008 Notes nor
the 2015 Notes will be subject to proration; only the 2013 Notes
will be subject to proration.

The tender offer is conditioned on the satisfaction of certain
conditions.  If any of the conditions is not satisfied, AES is
not obligated to accept for payment, purchase or pay for, and
may delay the acceptance for payment of, any tendered Notes, in
each event, subject to applicable laws, and may even terminate
the tender offer.

Citi is the Dealer Manager for the tender offer.  Global
Bondholder Services Corporation is acting as the Information
Agent and Wells Fargo Bank, National Association is acting as
the Depository.  The offer is made only by an Offer to Purchase
dated Oct. 16, 2007, and the information in this news release is
qualified by reference to the Offer to Purchase.  Persons with
questions regarding the offer should contact the Dealer Manager,
toll-free at 800-558-3745 or collect at (212) 723-6106. Requests
for documentation may be directed to the Information Agent,
toll-free at (866) 294-2200.

                     About AES Corporation

Headquartered in Arlington, Virginia, AES Corporation (NYSE:
AES) -- http://www.aes.com/-- is a power company is a holding
company that through its subsidiaries, operates a portfolio of
electricity generation and distribution businesses in 28
countries on five continents.  The company's employs 30,000
people.  It operates two types of businesses.  The distribution
business, which it refers to as Utilities and the generation
business, where it sells power to wholesale customers, such as
utilities or other intermediaries.  In addition to its
traditional generation and distribution operations, it is also
developing an alternative energy business.  During the year
ended Dec. 31, 2006, it operated in seven segments, which
include Latin America Generation, Latin America Utilities, North
America Generation, North America Utilities, Europe & Africa
Generation, Europe & Africa Utilities and Asia Generation.

AES has been in Eastern Europe for over ten years, since it
acquired three power plants in Hungary in 1996.  Currently, AES
has two distribution companies in Ukraine, which serve 1.2
million customers and generation plants in the Czech Republic
and Hungary.  AES is also the leading company in biomass
conversion in Hungary, generating 37% of the nation's total
renewable generation in 2004.

                         *     *     *

As reported in the Troubled Company Reporter on Oct. 12, 2007,
Moody's Investors Service affirmed The AES Corporation's
Corporate Family Rating at B1 and the senior unsecured rating
assigned to its new senior unsecured notes offering at B1
following its upsizing to US$2 billion from US$500 million.

Fitch Ratings assigned a 'BB/RR1' rating to AES Corporation's
US$2 billion issuance of senior unsecured notes maturing 2015
and 2017.  AES' long-term Issuer Default Rating is rated 'B+' by
Fitch.  Fitch said the rating outlook is stable.


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


COMMSCOPE INC: Earns US$60.3 Mln in 3rd Quarter Ended Sept. 30
--------------------------------------------------------------
CommScope Inc. disclosed Tuesday its third quarter results for
the period ended Sept. 30, 2007.
   
For the third quarter of 2007, CommScope reported net income of
US$60.3 million on sales of US$513.6 million.  For the third
quarter of 2006, CommScope reported net income of US$43.6
million on sales of US$466.1 million.  The reported net income
for the third quarter of 2006 included after-tax charges of
US$1.9 million related to restructuring costs. Excluding this
special item, adjusted third quarter 2006 earnings were US$45.5
million.

"We are pleased to deliver another strong quarter as all of our
operating segments continue to benefit from the global demand
for bandwidth," said CommScope chairman and chief executive
officer, Frank M. Drendel.  "We believe that video, data
intensive applications, mobility and dynamic websites create an
ongoing need for infrastructure solutions for communication
networks.  With our acquisition of Andrew Corporation on track
to be completed by the end of this year, we believe that
CommScope, as a global leader in 'last mile' infrastructure
solutions, will be solidly positioned to continue to benefit
from these long-term trends," Mr. Drendel added.

Sales for the third quarter of 2007 increased 10.2% year over
year, primarily driven by increased volume in all three
segments, with particular strength in the Carrier segment.  
Carrier segment sales increased 32.1% year over year to US$112.3
million.  These robust sales result from strong growth in all
Carrier product areas.

Operating income for the third quarter of 2007 increased 25%
year over year to US$81.4 million, or 15.8% of sales.  In the  
year-ago quarter, operating income was US$64.9 million, or 13.9%
of sales.  Excluding restructuring costs in the year ago
quarter, operating income would have been US$67.9 million, or
14.6% of sales.

Net cash provided by operating activities in the third quarter
of 2007 was US$80.7 million.  Capital spending in the quarter
was US$7.0 million.

At Sept. 30, 2007, the company's consolidated balance sheet
showed US$1.55 billion in total assets, US$583.1 million in
total liabilities, and US$967.1 million in total shareholders'
equity.

                        Andrew Acquisition

As reported in the Troubled Company Reporter on June 29, 2007,
CommScope Inc. and Andrew Corporation entered into a
definitive agreement, unanimously approved by their respective
Boards of Directors, under which CommScope will acquire all of
the outstanding shares of Andrew for US$15.00 per share, at
least 90% in cash.  

"As we approach the closing of the Andrew acquisition, we are
increasingly excited about the prospects of combining our
talented work forces and extensive portfolios of 'last mile'
solutions," Mr. Drendel stated.  "We continue to believe that
cost reductions, growth opportunities and other synergies
inherent in this combination will drive increased value for our
stockholders.  We have been working with our colleagues at
Andrew on integration planning and we believe that once this
transaction is completed, we will be well-prepared to begin
integrating our two industry
leading organizations."

The transaction is subject to completion of customary closing
conditions, including effectiveness of a registration statement
on Form S-4, approval by Andrew's stockholders, clearance under
the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as  
amended, and any other applicable laws or regulations.  The
companies continue to expect to close the transaction before the
end of 2007.

                       About CommScope Inc.

Based in Hickory, North Carolina, CommScope Inc. (NYSE: CTV) --
http://www.commscope.com/-- is a world leader in infrastructure  
solutions for communication networks.  Through its SYSTIMAX(R)
Solutions(TM) and Uniprise(R) Solutions brands, CommScope is the
global leader in structured cabling systems for business
enterprise applications.  It is also the world's largest
manufacturer of coaxial cable for Hybrid Fiber Coaxial
applications.  CommScope has facilities in Brazil, Australia,
China and Ireland.

                         *     *     *

As reported in the Troubled Company Reporter on Oct. 19, 2007,
Standard & Poor's Ratings Services affirmed its ratings on
CommScope Inc. and Westchester, Illinois-based Andrew Corp. and
removed them from CreditWatch, where they were placed on
June 27, 2007, with negative implications.  S&P also affirmed
the 'BB-' corporate credit and 'B' subordinated debt ratings for
both companies.  The ratings on Andrew will be withdrawn
following its acquisition and debt refinancing.  The outlook is
stable.


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


ALITALIA SPA: Antitrust Agency May Change Volare Ruling
-------------------------------------------------------
Autorita Garante della Concorrenza e del Mercato, Italy's anti-
trust authority, may change its ruling on Alitalia S.p.A.'s
EUR38 million acquisition of Volare Group S.p.A., Bloomberg News
reports.

In July 2006, the regulator approved Alitalia's takeover of low-
cost carrier Volare, but pinned some conditions.  Autorita
Garante said Alitalia must:

   -- give up two Volare slots at Milan Linate Airport; and
   -- yield two of its Linate-to-Paris flight slots.

In May 2006, Autorita Garante opened a probe into national
carrier Alitalia takeover of discount airline Volare.  The
competition commission said it would look into the impact of the
acquisition on flights from Milan Linate to Bari, Brindisi,
Lamezia, Catania, Naples, and Paris.  Both Alitalia and Volare
operate flights on the routes and the anti-trust agency want to
determine Alitalia's unfair dominance in their rivalry.

Alitalia and AirOne S.p.A. have asked the competition watchdog
to review the ruling, Bloomberg News relates, citing an e-mailed
statement from the regulator.

Air One, which made the second highest bid for Volare, claims
that Alitalia is an unfair competitor and that it lacks the
conditions to buy another airline following a near-bankruptcy
miss in 2005.  Air One is reportedly eyeing the carrier's prized
slots at Milan's Linate Airport -- the closest commercial
airport to the city.  

                         About Volare

Headquartered in Milan, Italy, Volare Group S.p.A. --
http://www.volare-group.it/-- is an operative holding company   
that controls Volare Airlines S.p.A. and Air Europe since 2001.  
The company declared insolvency on Nov. 22, 2004, citing huge
debt and heavy losses.  The group then filed for extraordinary
administration, which allowed it to be protected from creditors
while resuming daily operations.  Volare emerged from
administration in spring 2006, after beating its EUR7 million
revenue forecast by around EUR3.8 million.  Volare needs fresh
capital to expand its fleet.  

                         About Alitalia

Headquartered in Rome, Italy, Alitalia S.p.A. --
http://www.alitalia.it/-- provides air travel services for
passengers and air transport of cargo on national, international
and inter-continental routes.  The Italian government owns 49.9%
of Alitalia.  The company has operations in Argentina.

Despite a EUR1.4 billion state-backed restructuring in 1997,
Alitalia posted net losses of EUR256 million and EUR907 million
in 2000 and 2001 respectively.  Alitalia posted EUR93 million in
net profits in 2002 after a EUR1.4 billion capital injection.
The carrier booked annual net losses of EUR520 million in 2003,
EUR813 million in 2004, EUR168 million in 2005, and
EUR625.6 million in 2006.



PARMALAT SPA: Court Moves Injunction Hearing to Feb. 14
-------------------------------------------------------
The United States Bankruptcy Court for the Southern District of
New York has adjourned until Feb. 14, 2008, at 10:00 a.m., the
hearing to consider the Preliminary Injunction request of
Gordon I. MacRae and James Cleaver, as Joint Official
Liquidators of Parmalat Capital Finance Limited, Dairy Holdings
Limited, and Food Holdings Limited, on one hand, and Parmalat
Finanziaria S.p.A., and its affiliates and subsidiaries, under
the direction of Dr. Enrico Bondi, Extraordinary Administrator
of the Parmalat companies, on the other hand.

Each of the Petitioners and Parmalat reserve all rights and
arguments with respect to the proceedings under Section 304 of
the Bankruptcy Code.

In addition, U.S. Bankruptcy Judge Robert Drain extended
Parmalat's time to answer the Section 304 Petition commencing
the ancillary proceedings until March 18, unless otherwise
ordered by the Bankruptcy Court.

Judge Drain rules that the Temporary Restraining Order will
remain in effect pursuant to the Order until February 14.

Exhibit and witness lists related to any Preliminary Injunction
Hearing must be served and filed by February 8.

                          About Parmalat

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

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

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

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

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

The Honorable Robert D. Drain presides over the Parmalat
Debtors' U.S. cases.  (Parmalat Lumber Bankruptcy News, Issue
No. 93; http://bankrupt.com/newsstand/or 215/945-7000).


PARMALAT SPA: Allocated Shares Hike Share Capital
-------------------------------------------------
Parmalat S.p.A. relates that, following the allocation of shares
to creditors of the Parmalat Group, the subscribed and fully
paid up share capital has now been increased by EUR43,002 to
EUR1,652,040,437 from EUR1,651,997,435.

The share capital increase is due to the exercise of 42,224
warrants and the assignation of 778 shares.

The latest status of the share allotment is that 34,962,957
shares representing approximately 2.1% of the share capital are
still in a deposit account c/o Parmalat S.p.A., of which:

   -- 13,481,247 or 0.8% of the share capital, registered in the
      name of individually identified commercial creditors, are  
      still deposited in the intermediary account of
      Parmalat S.p.A. managed by Monte Titoli (compared with
      13,567,303 shares as at Sept. 28, 2007);

   -- 21,481,710 or 1.3% of the share capital registered in the
      name of the Foundation, called Creditori Parmalat, of
      which:

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

      * 21,361,710 or 1.3% of the share capital that pertain to  
        currently undisclosed creditors (compared with
        21,567,972 shares as at Sept. 28, 2007).

                          About Parmalat

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

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

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

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

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

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


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


BISHKEKSKY BRANCH OF IBRAKOM: Claims Must be Filed by December 1
----------------------------------------------------------------
Bishkeksky Branch of LLC KN Ibrakom has declared insolvency.  
Creditors have until Dec. 1 to submit written proofs of claim
to:

         LLC KN Ibrakom
         Sydykov Str. 258/52
         Bishkek
         Kyrgyzstan
         Tel: (0-502) 57-59-42


SAVITAR JSC: Creditors Must File Claims by December 5
-----------------------------------------------------
JSC Savitar has declared insolvency.  Creditors have until
Dec. 5 to submit written proofs of claim.

Inquiries can be addressed to (+996 312) 27-22-18.


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


EVRAZ GROUP: Now Owns 100% of Major Russian Units
-------------------------------------------------
Evraz Group S.A., through its subsidiaries, has completed the
buyout of all outstanding common stock of steel mills NTMK and
Zapsib, iron ore mining and processing complexes KGOK and VGOK,
and the Nakhodka Commercial Sea Port (NMTP).

The procedure was carried out in accordance with the Russian
legislation through mandatory offers to all minority
shareholders of the respective Russian companies.

As a result of the buyout, Zapsib, NTMK, KGOK, VGOK and NMTP
have become Evraz’s wholly owned subsidiaries.

"Successful completion of the buyout is an important step in
simplification and optimisation of Evraz’s ownership and
management structures allowing to effectively align all the
business processes and strategic management decisions within the
group," Alexander Frolov, Evraz’s Chairman and CEO, commented.  
"The way the buyout process was organised and carried out has
demonstrated the Company’s commitment to international best
practices in corporate governance."

                         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 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%

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


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


GLOBAL POWER: U.S. Bankruptcy Court Okays Disclosure Statement
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware has
approved Global Power Equipment Group Inc.'s Disclosure
Statement, authorizing the company to begin soliciting votes
from its creditors and shareholders on its amended Chapter 11
Plan of Reorganization.

The Court found that the Disclosure Statement contained adequate
information for a creditor to make a decision whether to vote to
accept or reject the Plan.

Pursuant to a Plan Support Agreement approved by the Bankruptcy
Court, the Plan is supported by both of the statutory committees
appointed to represent creditors and stockholders in the chapter
11 cases and by holders the company's senior subordinated notes.

As reported in the Troubled Company Reporter on Sept. 14, 2007,  
Global Power's Plan includes a rights offering available to
existing equity holders for the issuance of new common stock of
the reorganized company backstopped in an amount up to US$90
million by a group of existing equity holders.  The timeline
approved by the Court establishes Nov. 6, 2007, as the record
date for voting on the Plan and participating in the rights
offering.

"Since entering into the plan settlement outline in August with
the committees and the noteholders, the company and
representatives of the major constituencies in these cases have
worked hard to finalize the various components of the Plan,
which the company believes maximizes the recovery of all
stakeholders," John Matheson, President and Chief Executive
Officer of Global Power, said.  "With the Disclosure Statement
approved and a confirmation hearing scheduled, we now have a
clear timeline for a successful emergence from chapter 11.  The
company will emerge from chapter 11 with a strong balance sheet
and capital structure that will ensure continued excellent
service and support for our customers."

                 Confirmation Hearing Scheduled

The Court also set a hearing on Dec. 20, 2007, to consider
confirmation of Global Power's Amended Chapter 11 Plan of
Reorganization.

Headquartered in Oklahoma, Global Power Equipment Group Inc.
(Pink Sheets: GEGQQ) -- http://www.globalpower.com/-- is a
design, engineering and manufacturing firm providing an array of
equipment and services to the energy, power infrastructure and
process industries.  The company designs, engineers and
manufactures a comprehensive portfolio of equipment for gas
turbine power plants and power-related equipment for industrial
operations, and has over 40 years of power generation industry
experience.  The company's equipment is installed in power
plants and in industrial operations in more than 40 countries on
six continents.  In addition, the company provides routine and
specialty maintenance services to nuclear, coal-fired, fossil,
and hydroelectric power plants and other industrial operations.

The company has facilities in Plymouth, Minnesota; Tulsa,
Oklahoma; Auburn, Massachusetts; Atlanta, Georgia; Monterrey,
Mexico; Shanghai, China; Nanjing, China; and Heerleen, The
Netherlands.

The company filed for chapter 11 protection on Sept. 28, 2006
(Bankr. D. Del. Case No. 06-11045).  Thomas E. Lauria, Esq.,
Matthew C. Brown, Esq., Gerard Uzzi, Esq., John Cunningham,
Esq., and Frank Eaton, Esq., at White & Case LLP; and Jeffrey M.
Schlerf, Esq., Eric M. Sutty, Esq., and Mary E. Augustine, Esq.,
at The Bayard Firm, represent the Debtors.  Kurtzman Carson
Consultants LLC acts as the Debtors' noticing and claims agent.  
At Oct. 31, 2006, Global Power's balance sheet showed total
assets of US$177,758,000 and total debts of US$99,017,000

Jeffrey S. Sabin, Esq., and David M. Hillman, Esq., at Schulte
Roth & Zabel LLP; and Adam G. Landis, Esq., and Kerri K.
Mumford, Esq., at Landis Rath & Cobb LLP, represent the Official
Committee of Unsecured Creditors.  The Official Committee of
Equity Security Holders is represented by Howard L. Siegel,
Esq., and Steven D. Pohl, Esq., at Brown Rudnick Berlack Israels
LLP.


KONINKLIJKE AHOLD: Posts Preliminary Third Quarter 2007 Results
---------------------------------------------------------------
Koninklijke Ahold N.V. (fka Royal Ahold) disclosed consolidated
net sales of EUR6.3 billion for the third quarter ending Oct. 7,
2007.  Compared to the third quarter of 2006, net sales
increased by 1.1% and increased by 5.6% at constant exchange
rates.

In the United States, price investments related to the further
roll-out of the Value Improvement Program, launched in September
2006 at Stop & Shop and Giant-Landover, will continue to impact
margins.  At Giant-Carlisle, seasonally low sales will also be
reflected in margins.  In the Netherlands, market conditions
remained favorable.

Sales performance

   * Stop & Shop/Giant-Landover

   -- Net sales increased 0.3% to $3.7 billion.

   -- Identical sales increased 1.2% at Stop & Shop (1.0%
      excluding gasoline net sales) and decreased 1.8%
      at Giant-Landover.

   -- Comparable sales increased 1.7% at Stop & Shop and
      decreased 1.6% at Giant-Landover.

   * Giant-Carlisle

   -- Net sales increased 13.1% to $1 billion, due in part to
      the acquisition of the Clemens Markets stores in the
      fourth quarter of 2006.

   -- Identical sales increased 2.5% (2.3% excluding gasoline
      net sales).

   -- Comparable sales increased 3.7%.

   * Albert Heijn

   -- Net sales increased 12.4% to €1.8 billion, due in part to
      the acquisition of the Konmar stores in the fourth
      quarter of 2006.

   -- Net sales at Albert Heijn supermarkets increased 12.5% to
      EUR1.6 billion.

   -- Identical sales at Albert Heijn supermarkets increased
      7.3%.

   * Albert/Hypernova (Czech Republic and Slovakia)

   -- Net sales increased 13.1% to EUR355 million (9.9% at
      constant exchange rates).

   -- Identical sales increased 7.4%.

   * Schuitema

   -- Net sales increased 1.7% to EUR728 million.

   -- Identical sales increased 0.4%.

   * Unconsolidated joint venture - ICA

   -- Net sales increased 21.1% to EUR2.2 billion, largely
      reflecting ICA’s acquisition of the full ownership of
      Rimi altic AB from December 2006.  At constant exchange
      rates, net sales increased 20.9%.

On Nov. 6, 2006, Ahold announced its intention to divest U.S.
Foodservice, its retail activities in Slovakia and Poland, the
remaining Tops operations in New York and Pennsylvania, and its
stake in JMR.  Poland, Tops, U.S. Foodservice and JMR are
classified as discontinued operations.  On July 2 and 3, 2007,
Ahold completed the sale of its Polish retail and U.S.
Foodservice operations, respectively.  On Oct. 11, 2007, Ahold
reached agreement on the sale of the remaining Tops operations.
The sale is expected to be completed in the fourth quarter of
2007, subject to the fulfillment of certain closing conditions.

The net sales figures presented are preliminary and unaudited.

                         About Ahold

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

                         *     *     *

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

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

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


KONINKLIJKE AHOLD: To Remodel 100 Giant Food Outlets
----------------------------------------------------
Koninklijke Ahold N.V. disclosed its three-year investment plan
to remodel or replace around 100 Giant Food supermarkets in
Delaware, Maryland, Virginia, and Washington D.C.  The store
remodeling program, named "Project Refresh," will represent
Ahold’s largest investment in the Giant Food stores since
acquiring the chain in 1998.

Jose Alvarez, President and CEO of Stop & Shop/Giant-Landover,
said: "We are very excited about what this investment will bring
to our Giant customers, employees and local communities. The
remodeling program underscores our commitment to continuing to
be the supermarket of choice in these markets."

The investment will focus on improving Giant’s perishable food
sections and modernizing the stores to improve customer
convenience. Giant expects to keep its existing stores open
during the remodeling process.

Giant Food is headquartered in Landover, Maryland; operates 185
supermarkets in Virginia, Maryland, Delaware, and Washington
D.C.; and employs approximately 21,000 employees.

                          About Ahold


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

                         *     *     *

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

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

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


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


SCO GROUP: Selects Dorsey & Whitney as Special Corporate Counsel
----------------------------------------------------------------
The SCO Group Inc. and SCO Operations Inc. ask the United States
Bankruptcy Court for the District of Delaware for authority to
employ Dorsey & Whitney LLP as special corporate and securities
counsel, nunc pro tunc to Sept. 14, 2007.

Dorsey & Whitney will:

   a. advise and counsel the Debtors with respect to their
      responsibilities in complying with the requirements of
      regulatory authorities and general corporate matters;

   b. give advice with respect to continued compliance with
      securities matters, specifically with respect to the
      Debtors' continued compliance with the Securities Act of
      1033 and the Securities and Exchange Act of 1934,
      including the preparation and filing of quarterly and
      annual reports required by federal law that will be
      necessary during the pendency of the cases;

   c. give advice with respect to general corporate governance,
      transactional, finance, labor and employment, and other
      related general outside counsel matters; and

   d. assist lead bankruptcy counsel as may be needed to protect
      the interests of the estates in all matters pending before
      the Court.

The Debtors will pay the firm at its standard hourly rate.  

      Professional                 Designation     Rate
      ------------                 -----------     ----
      Nolan S. Taylor, Esq.        Partner         US$440
      Devan Padmanabhan, Esq.      Partner         US$495
      Eric Lopez Schnabel, Esq.    Partner         US$450
      Samuel P. Gardner, Esq.      Partner         US$330
      David Marx                   Associate       US$270

In addition, Dorsey had unbilled fees and expenses owed by the
Debtors totaling US$53,128 and other expenses already billed
totaling US$1,622.  Prior to the bankruptcy filing, Dorsey
received a US$100,000 retainer; however, Dorsey was not able to
issue an invoice for its unbilled expenses.  The Debtors and
Dorsey want the unbilled claim applied against the retainer and
the remainder of the retainer applied against fees approved for
payment pursuant to Court orders.

The firm can be reached at:

                Nolan S. Taylor, Esq.
                Dorsey & Whitney LLP
                170 South Main Street, suite 900
                Salt Lake, Utah
                http://www.dorsey.com/

Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX)
fka Caldera International Inc. -- http://www.sco.com/--  
provides software technology for distributed, embedded and
network-based systems, offering SCO OpenServer for small to
medium business and UnixWare for enterprise applications and
digital network services.  The company has office locations in
Australia, Austria, Argentina, Brazil, China, Japan, Poland,
Russia, the United Kingdom, among others.

The company and its affiliate, SCO Operations Inc., filed for
Chapter 11 protection on Sept. 14, 2007, (Bankr. D. Del. Lead
Case No. 07-11337).  Epiq Bankruptcy Solutions, LLC, acts as the
Debtors' claims and noticing agent.  The United States Trustee
failed to form an Official Committee of Unsecured Creditors in
these cases due to insufficient response from creditors.  The
Debtors' exclusive period to file a chapter 11 plan expires on
March 12, 2008.  The Debtors' schedules of assets and
liabilities showed total assets of US$9,549,519 and total
liabilities of US$3,018,489.


SCO GROUP: Taps Boies Schiller as Special Litigation Counsel
------------------------------------------------------------
The SCO Group Inc. and SCO Operations Inc. ask the United States
Bankruptcy Court for the District of Delaware for authority to
employ Boies, Schiller & flexner LLP as special litigation
counsel, nunc pro tunc to Sept. 14, 2007.

Boies Schiller will assist the Debtors in connection with the
continuation of the SCO Litigation, which consists of these
pending matters:

   -- SCO Group v. International Businesses Machines Corp.
      pending in the U.S. District Court for the District of
      Utah;

   -- SCO Group v. Novell Inc. pending in the U.S. District
      Court for the District of Utah;

   -- Red Hat Inc. v. SCO Group pending in the U.S. District
      Court for the District of Delaware;

   -- SCO Group v. Autozone Inc. pending in the U.S. District
      Court for the District of Nevada;

   -- SCO Group v. DaimlerChrysler Corporation pending in the
      State of Michigan, Circuit Court for the County of
      Oakland;

   -- Gray Litigation: Wayne R. Gray v. Novell, SCO Group and
      X/Open Company Ltd. pending in the U.S. District Court for
      the Middle District of Florida; and

   -- SuSE Linux GmbH v. SCO Group pending before the
      International Court of Arbitration.

Specifically, the firm will:

   a. give advice to the Debtors with respect to the SCO
      Litigation;

   b. prepare motions, pleadings, orders, applications,
      adversary proceedings, and other legal documents necessary
      in the prosecution, defense or appeal of administration of
      the SCO Litigation;

   c. represent the Debtors at all trials, hearings or
      arbitration proceedings with respect to the SCO
      Litigation; and

   d. protect the interests of the Debtors with respect to the
      SCO Litigation.

Subject to the Court's approval, the Debtors will pay the firm
at its standard hourly rate with respect to the Gray Litigation
and 50% of its standard hourly rates with respect to the SuSE
Arbitration and continue the terms of their pre-bankruptcy
engagement on other SCO Litigation.

To the best of the Debtors' knowledge, Boies Schiller does not
represent or hold any interest adverse to the Debtors or their
estates.

The firm can be reached at:

             Stuart H. Singer, Esq.
             Boies, Schiller & flexner LLP
             333 Main St.
             Armonk, NY 10504-1812
             Tel: (914) 749-8200
             Fax: (914) 749-8300
             http://www.bsfllp.com/

Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX)
fka Caldera International Inc. -- http://www.sco.com/--  
provides software technology for distributed, embedded and
network-based systems, offering SCO OpenServer for small to
medium business and UnixWare for enterprise applications and
digital network services.  The company has office locations in
Australia, Austria, Argentina, Brazil, China, Japan, Poland,
Russia, the United Kingdom, among others.

The company and its affiliate, SCO Operations Inc., filed for
Chapter 11 protection on Sept. 14, 2007, (Bankr. D. Del. Lead
Case No. 07-11337).  Epiq Bankruptcy Solutions, LLC, acts as the
Debtors' claims and noticing agent.  The United States Trustee
failed to form an Official Committee of Unsecured Creditors in
these cases due to insufficient response from creditors.  The
Debtors' exclusive period to file a chapter 11 plan expires on
March 12, 2008.  The Debtors' schedules of assets and
liabilities showed total assets of US$9,549,519 and total
liabilities of US$3,018,489.


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


ALIANCE BANK: Competitive Proceedings Ongoing
---------------------------------------------
Creditors of Aliance Bank CB* LLC are invited to submit their
proofs of claim to:

         O. V. Boev
         Temporary Administrator
         Rizhskij Proezd 3
         129626 Moscow
         Russia


ARAMIL'SKIY MILL OJSC: Asset Sale Slated for Nov. 21
----------------------------------------------------
V. S. Rozhdestvenskij, the competitive proceedings manager of
OJSC Aramil'skiy Mill, will open a public auction for the
company's properties at noon on Nov. 21 at:

         Zavodskaya Str. 1
         Aramil'
         Sversdlovsk
         Russia

The starting price for the auctioned assets is RUR4 million.

Interested participants have until Nov. 16 to deposit an amount
equivalent to 20% of the starting price to the settlement
account of OJSC Aramil'skiy Mill.

Bidding documents must be submitted to:

         South-West Str. 44
         Patrushi Settlement
         Sverdlovsk
         Russia


CONSTRUCTION MATERIALS: Asset Sale Slated for Nov. 30
-----------------------------------------------------
The competitive proceedings manager of CJSC Construction
Materials Integrated Plant will set a repeated auction for the
company's properties at 10:00 a.m. on Nov. 30 at:

         CJSC Construction Materials Integrated Plant
         October Str. 143
         Armavir
         Krasnodar krai
         Russia

The starting price for the auctioned assets is RUR406,302.  
Deposit required is 5% of the starting price.

Interested participants have until 5:00 p.m. on Nov. 21 to
submit their bidding documents.

Information related to the auction can be obtained from:

         CJSC Construction Materials Integrated Plant
         October Str. 143
         Armavir
         Krasnodar krai
         Russia
         Tel: (8-8-6137) 4-78-00


CANNING PLANTEGORYEVSKIJ: Bankruptcy Hearing Slated for Dec. 18
---------------------------------------------------------------
The Arbitration Court of Moscow will convene at 2:15 p.m. on
Dec. 18 to hear the bankruptcy supervision procedure on Canning
Plantegoryevskij LLC.  The case is docketed under Case No.
?41-?2-13113/07.

The interim manager is:

         E. N. Shirova
         P.O. Box 8347
         454084 Chelyabinsk
         Russia

Creditors must submit their proofs of claim to:

         P.O. Box 345
         115230 Moscow-230
         Russia

The Court is located at:

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

The Debtor can be reached at:

         Canning Plantegoryevskij LLC
         Egoryevsk
         Moscow
         Russia


EVRAZ GROUP: Now Owns 100% of Major Russian Units
-------------------------------------------------
Evraz Group S.A., through its subsidiaries, has completed the
buyout of all outstanding common stock of steel mills NTMK and
Zapsib, iron ore mining and processing complexes KGOK and VGOK,
and the Nakhodka Commercial Sea Port (NMTP).

The procedure was carried out in accordance with the Russian
legislation through mandatory offers to all minority
shareholders of the respective Russian companies.

As a result of the buyout, Zapsib, NTMK, KGOK, VGOK and NMTP
have become Evraz’s wholly owned subsidiaries.

"Successful completion of the buyout is an important step in
simplification and optimisation of Evraz’s ownership and
management structures allowing to effectively align all the
business processes and strategic management decisions within the
group," Alexander Frolov, Evraz’s Chairman and CEO, commented.  
"The way the buyout process was organised and carried out has
demonstrated the Company’s commitment to international best
practices in corporate governance."

                         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 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%

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


HEAT-AND-POWER: Bankruptcy Hearing Slated for Feb. 2
----------------------------------------------------
The Arbitration Court of Tomsk will convene on Feb. 2, 2008, to
hear the bankruptcy supervision procedure on Heat-and-Power
Company LLC.  The case is docketed under Case No. N?67-3447/07.

The interim manager is:

         T. L. Gorlova
         Office 3
         Gorlova Str. 11
         Tomsk
         Russia

The Debtor can be reached at:

         Heat-and-Power Company LLC
         2nd Ust'-Kurgizska Str. 27
         Tomsk 634024
         Russia


KOLKHOZ BOR'BA: Creditors Must File Claims by Dec. 20
-----------------------------------------------------
Creditors of Kolkhoz Bor'ba have until Dec. 20 to submit proofs
of claim to:

         I. Yu. Bol'shakov
         Moscow str., 55
         156001 Kostroma
         Russia

The Arbitration Court of Kostroma commenced competitive
proceedings against the company on Oct. 4, 2007, after finding
it insolvent.  The case is docketed under Case No. ?31-2120/
2007-12.

The Debtor can be reached at:

         Kolkhoz Bor'ba
         Malaya Strelka Village
         Octover
         Kostroma
         Russia


PLANT IZMET: Creditors Must File Claims by Nov. 20
--------------------------------------------------
Creditors of CJSC Plant Izmet have until Nov. 20 to submit their
proofs of claim to:

         V. N. Rybachepko
         Armavirskaya Str. 45
         353680 Krasnodar krai
         Russia

The Arbitration Court of Krasnodar oversees the bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. ?-32-18019/2007-37/447-?.

The Court is located at:

         The Arbitration Court of Krasnodar
         Krasnaya Str. 6
         Krasnodar
         Russia

The Debtor can be reached at:

         CJSC Plant Izmet
         Michurina Str. 16
         Eisk
         Eiskij Raion
         353680 Krasnodar Krai
         Russia


PODOL'SKIJ OJSC: Creditors Must File Claims by Dec. 20
------------------------------------------------------
Creditors of OJSC Podol'skij have until Dec. 20 to submit their
proofs of claim to:

         A. N. Lantsov
         P.O. Box 58
         121614 Moscow
         Russia

The Arbitration Court of Moscow commenced competitive
proceedings against the company after finding it insolvent.    
The case is docketed under Case No. ?-41-?2-23467/06.

The Court is located at:

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

The Debtor can be reached at:

         OJSC Podol'skij
         Bronnitskaya Str. 5
         Podol'sk
         142103 Moscow
         Russia


SISTEMA JSFC: Okays Development Strategy for Healtcare Division
---------------------------------------------------------------
Sistema JSFC approved the development strategy for its
Healthcare Services division on Oct. 30, 2007.

The division's assets are being integrated into the "Medsi
Companies Group" holding structure, and comprise the Medsi
clinic, the Medsi-II clinic, the American Hospital Group, and
MedExpress.

The Medsi Companies Group is 100% owned by Sistema and will
comprise 14 clinics in Moscow and 12 clinics in the regions.

Sistema intends to create a chain of 100 clinics by 2011, which
will provide a full range of paid-for services encompassing
preventive treatment, diagnostics and clinical treatment.  The
clinics will operate under the unified brand, format and set of
standards.  Sistema plans to invest around US$100 million per
year in the development of the Group of healtcare services
companies.

"We intend to provide high quality medical services to clients,
and to provide treatment for a wide range of medical conditions
and healthcare concerns.  We are paying particular attention to
the location of the clinics, in order to ensure close proximity
to clients' homes and work places," Vladimir Gurdus, general
director of the Medsi Companies Group, disclosed.
"The paid-for healthcare services sector is one of our key areas
for growth.  The healthcare services market presents
considerable growth opportunities and we intend to become a
leading player in the fast developing market place," Alexander
Goncharuk, president and CEO of Sistema added.


                          About Sistema

Sistema JSFC (LSE: SSA) -- http://www.sistema.com/-- is the
largest private sector consumer services company in Russia and
the CIS, with over 65 million customers.  Sistema develops and
manages market-leading businesses in selected service-based
industries, including telecommunications, technology, insurance,
banking, real estate, retail and media.

Founded in 1993, the company reported revenues of US$7.5 billion
for the first nine months of year 2006, and total assets of
US$18.5 billion as at Sept. 30, 2006.  Sistema's shares are
listed under the symbol 'SSA' on the London Stock Exchange,
under the symbol 'AFKS' on the Russian Trading System (RTS), and
under the symbol 'SIST' on the Moscow Stock Exchange (MSE).

                         *     *     *

As reported in the TCR-Europe on Oct. 26, 2007, Moody's
Investors Service upgraded the corporate family ratings of JSFC
Sistema to Ba3 from B1.  The outlook on the ratings is positive.

Simultaneously, Moody's upgraded the existing Sistema Capital
S.A. Notes and MTN program ratings to Ba3 from B3.

The company carries Standard & Poor's BB- issuer credit rating
with positive outlook and Fitch Ratings' BB- issuer default
rating with stable outlook..


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


ATELIER HPJAKOB: Creditors' Liquidation Claims Due by Nov. 5
------------------------------------------------------------
Creditors of LLC atelier hpjakob have until Nov. 5 to submit
their claims to:

         Hans-Peter Jakob
         Liquidator
         Leimenstrasse 13
         2540 Grenchen
         Lebern SO
         Switzerland

The Debtor can be reached at:

         LLC atelier hpjakob
         Grenchen
         Lebern SO
         Switzerland


EQUEST TECHNOLOGIES: Creditors' Liquidation Claims Due by Nov. 5
----------------------------------------------------------------
Creditors of LLC eQuest Technologies have until Nov. 5 to submit
their claims to:

         JSC SymphonyConsult
         Gerechtigkeitsgasse 50
         3000 Bern 8
         Switzerland

The Debtor can be reached at:

         LLC eQuest Technologies
         Zurich
         Switzerland


KM LLC: Aargau Court Starts Bankruptcy Proceedings
--------------------------------------------------
The Bankruptcy Court of Aargau commenced bankruptcy proceedings
against LLC KM on Oct. 2.

The Bankruptcy Service of Aargau can be reached at:

         Bankruptcy Service of Aargau
         Office Baden
         5402 Baden AG
         Switzerland

The Debtor can be reached at:

         LLC KM
         Landstrasse 99a
         5430 Wettingen
         Baden AG
         Switzerland


VERSUS WERBEAGENTUR: Creditors' Liquidation Claims Due by Nov. 5
----------------------------------------------------------------
Creditors of LLC Versus Werbeagentur have until Nov. 5 to submit
their claims to:

         Stefan Degen
         Im Wasenboden 26
         4056 Basel BS
         Switzerland

The Debtor can be reached at:

         LLC Versus Werbeagentur
         Basel BS
         Switzerland


ZEBE LIFESTYLE: Zug Court Starts Bankruptcy Proceedings
-------------------------------------------------------
The Bankruptcy Court of Zug commenced bankruptcy proceedings
against LLC ZEBE Lifestyle Wohnboutique on Sept. 28.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         LLC ZEBE Lifestyle Wohnboutique
         Neugasse 7
         6300 Zug
         Switzerland


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


GALAKTON LLC: Creditors Must File Claims by November 3
------------------------------------------------------
Creditors of LLC Trading House Galakton (code EDRPOU 333350478)
have until Nov. 3 to submit written proofs of claim to:
  
         The Economic Court of Kiev
         B. Hmelnitskij Boulevard 44-B
         01030 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 23/375-b.

The Debtor can be reached at:

         LLC Trading House Galakton
         Kikvidze Str. 1/2
         01023 Kiev
         Ukraine


IVTK IKAR: Creditors Must File Claims by November 3
---------------------------------------------------
Creditors of LLC IVTK Ikar (code EDRPOU 33307050) have until
Nov. 3 to submit written proofs of claim to:
  
         The Economic Court of Kiev
         B. Hmelnitskij Boulevard 44-B
         01030 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 23/374-b.

The Debtor can be reached at:

         LLC IVTK Ikar
         Bliukher Str. 11
         Kiev
         Ukraine


KUA UKRINCOR: Creditors Must File Claims by November 7
------------------------------------------------------
Creditors of LLC Kua Ukrincor (code EDRPOU 32902876) have until
Nov. 7 to submit written proofs of claim to:

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

The Economic Court of Donetsk commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 45/119b.

The Debtor can be reached at:

         LLC Kua Ukrincor
         Heroes Panfilovtsy Str. 11
         83005 Donetsk
         Ukraine


SOYUZ-K LLC: Creditors Must File Claims by Nov. 3
-------------------------------------------------
Creditors of LLC Soyuz-K (code EDRPOU 30599252) have until
Nov. 3 to submit written proofs of claim to:

         The Economic Court of Cherkassy
         Shevchenko Avenue 307
         18005 Cherkassy
         Ukraine

The Economic Court of Cherkassy commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 10/4358.

The Debtor can be reached at:

         LLC Soyuz-K
         Yaroslavskaya Str. 22
         Cherkassy
         Ukraine


VECTOR LLC: Creditors Must File Claims by November 3
----------------------------------------------------
Creditors of LLC Trading House Vector (code EDRPOU 33240494)
have until Nov. 3 to submit written proofs of claim to:
  
         The Economic Court of Kiev
         B. Hmelnitskij Boulevard 44-B
         01030 Kiev
         Ukraine

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 23/376-b.

The Debtor can be reached at:

         LLC Trading House Vector
         Bliukher Str. 11
         Kiev
         Ukraine


ZIRCON REFRACTORY: Claims Filing Deadline Set November 3
--------------------------------------------------------
Creditors of LLC Zircon Refractory Materials Plant (code EDRPOU
31240890) have until Nov. 3 to submit written proofs of claim
to:

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

The Economic Court of Dnipropetrovsk oversees the bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. B 29/5-07.

The Debtor can be reached at:

         LLC Zircon Refractory Materials Plant
         Stepovaya Str. 1-B
         Volnogorsk
         51700 Dnipropetrovsk
         Ukraine


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


ACXIOM CORP: Board Approves US$75 Mil. Stock Repurchase Program
---------------------------------------------------------------
Acxiom(R) Corporation's board of directors has authorized the
repurchase of up to US$75 million of the company’s common stock
over the next 12 months in open market or privately negotiated
transactions, depending on prevailing market conditions and
other factors.  The repurchase program may be suspended or
discontinued at any time.

Based in Little Rock, Arkansas, Acxiom(R) Corporation (Nasdaq:
ACXM) -- http://www.acxiom.com/-- integrates data, services and  
technology to create and deliver customer and information
management solutions for many of the largest, most respected
companies in the world.  The core components of Acxiom's
solutions are Customer Data Integration technology, data,
database services, IT outsourcing, consulting and analytics, and
privacy leadership.  Founded in 1969, Acxiom has locations
throughout the United States, United Kingdom, Australia and
China.

                         *     *     *

As reported in the Troubled Company Reporter on Oct. 3, 2007,
Standard & Poor's Ratings Services said its 'BB' corporate
credit rating on Acxiom Corp. remains on CreditWatch with
negative implications, where it was placed on May 17, 2007.  At
the same time, S&P also placed the 'BB' senior secured debt
ratings on CreditWatch with negative implications.


ACXIOM CORP: Earns US$10.5 Million in Quarter Ended Sept. 30
------------------------------------------------------------
Acxiom Corporation reported its financial results for the second
quarter of fiscal 2008 ended Sept. 30, 2007.  The company
reported a net income of US$10.5 million, compared to net
earnings of US$21.7 million in the second quarter of fiscal
2007.

Revenue for the three-month period was US$351.0 million, an
increase of 0.8% over US$348.3 million for the comparable prior-
year period.  Income from operations for the three-month period
equaled US$20.4 million compared to US$41.9 million for the
quarter ended Sept. 30, 2006.

For the six-month period ended Sept. 30, 2007, revenue totaled
US$689.2 million, an increase of 0.6% over US$685.0 million for
the comparable prior-year period.  Income from operations for
the six-month period was US$24.5 million compared to US$78.2
million for the six months ended Sept. 30, 2006.

"We are moving forward as an independent, publicly owned
company," Charles D. Morgan, Acxiom’s company leader and
chairman of the board stated.  "Despite the distraction of the
recent course of events, the company posted a slight revenue
increase for the quarter.  In addition, we instituted an expense
reduction plan during mid-September and we expect to see the
benefit of the plan during the second half of the fiscal year."

The company had operating cash flow of US$40.6 million and free
cash flow available to equity of negative US$11.3 million.

At Sept. 30, 2007, the company's balance sheet showed total
assets of US$1.6 billion and total debts of US$1.0 billion,
resulting in a US$580.8 million stockholders' equity.  Equity on
March 31, 2007, was US$521.3 million.

Based in Little Rock, Arkansas, Acxiom(R) Corporation (Nasdaq:
ACXM) -- http://www.acxiom.com/-- integrates data, services and  
technology to create and deliver customer and information
management solutions for many of the largest, most respected
companies in the world.  The core components of Acxiom's
solutions are Customer Data Integration technology, data,
database services, IT outsourcing, consulting and analytics, and
privacy leadership.  Founded in 1969, Acxiom has locations
throughout the United States, United Kingdom, Australia and
China.

                         *     *     *

As reported in the Troubled Company Reporter on Oct. 3, 2007,
Standard & Poor's Ratings Services said its 'BB' corporate
credit rating on Acxiom Corp. remains on CreditWatch with
negative implications, where it was placed on May 17, 2007.  At
the same time, S&P also placed the 'BB' senior secured debt
ratings on CreditWatch with negative implications.


ACXIOM CORP: Annual Stockholders' Meeting Slated for Dec. 21
------------------------------------------------------------
The board of directors of Acxiom(R) Corporation has scheduled
the company’s Annual Meeting of Stockholders for Friday,
Dec. 21, 2007, at 10 a.m. CST.  The meeting will be held at the
Acxiom River Market Building, 601 East Third Street in Little
Rock, Arkansas.

Based in Little Rock, Arkansas, Acxiom(R) Corporation (Nasdaq:
ACXM) -- http://www.acxiom.com/-- integrates data, services and  
technology to create and deliver customer and information
management solutions for many of the largest, most respected
companies in the world.  The core components of Acxiom's
solutions are Customer Data Integration technology, data,
database services, IT outsourcing, consulting and analytics, and
privacy leadership.  Founded in 1969, Acxiom has locations
throughout the United States, United Kingdom, Australia and
China.

                         *     *     *

As reported in the Troubled Company Reporter on Oct. 3, 2007,
Standard & Poor's Ratings Services said its 'BB' corporate
credit rating on Acxiom Corp. remains on CreditWatch with
negative implications, where it was placed on May 17, 2007.  At
the same time, S&P also placed the 'BB' senior secured debt
ratings on CreditWatch with negative implications.


AVECIA GROUP: Moody's Holds Caa1 Corporate Family Rating
--------------------------------------------------------
Moody's Investors Services affirmed its Caa1 Corporate Family
Rating for Avecia Group Plc.  The outlook remains negative.

The rating affirmation acknowledges Avecia's continued efforts
to improve the business and financial profile of the group
through asset disposals, restructuring and downsizing of the
business.  The remaining biochemical businesses generate
negative operating cash flow at this stage and this is not
expected to improve over the next twelve months at least.  
Avecia remains dependent on its cash balances (GBP27.1 million
cash & marketable securities on balance sheet at June 31, 2007)
to fund its operations.

The negative outlook on the ratings continue to reflect the
degree of uncertainty with respect to projected improvements in
Avecia's performance, characteristic for the early development
stage of the company's biochemical businesses.  Avecia expects
that it will be subject to an FDA inspection during the course
of fiscal year 2008, which could have a positive impact on the
operating performance of the group if the inspection's results
reveals positive.  In the absence of committed bank lines,
Moody's notes the management's preference for maintaining a
liquidity cushion to finance its operations while the company
generates negative cash flow.

These ratings are affected:

  -- Avecia Group Plc: Caa1 Corporate Family Rating/Caa1
     Probability of Default Rating;

  -- Avecia Group Plc: Caa3/LGD6 rating on Preference Redeemable
     Shares.

Avecia Group Plc reported revenues of GBP28.9 million and EBIT
of GBP2.4 million for the first half to June 30, 2007.


BGM INDUSTRIES: Brings In Liquidators from Moore Stephens
---------------------------------------------------------
Nigel Price and Mark Elijah Thomas Bowen of Moore Stephens LLP
were appointed joint liquidators of BGM Industries Ltd. on
Oct. 15 for the creditors' voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Moore Stephens LLP
         Beaufort House
         94-96 Newhall Street
         Birmingham
         B3 1PB
         England


COLIN BRADBURY: Taps Liquidators from PricewaterhouseCoopers
------------------------------------------------------------
David Thornhill and Michael Horrocks of PricewaterhouseCoopers
LLP were appointed joint liquidators of Colin Bradbury Ltd. on
Oct. 24 for the creditors' voluntary winding-up proceeding.

The joint liquidators can be reached at:

         PricewaterhouseCoopers LLP
         101 Barbirolli Square
         Lower Mosley Street
         Manchester
         M2 3PW
         England


EMI GROUP: Terra Firma Leads Strategic Review to Recover Equity
---------------------------------------------------------------
Terra Firma Capital Partners Ltd. confirmed on Oct. 29, 2007,
that it was leading a strategic review on EMI Group Plc, amidst
reports that it will cut its interest in the company, The
Scotsman reports.

According to the report, Terra Firma wants to bring in outside
investors to recover some of the equity placed as part of the
GBP2.4 billion deal.

EMI could face job cuts and a clamp down on costs as its private
equity owner pursues to make savings, Scotsman relates.

A spokesman for Terra Firma told the Scotsman that the review
had been launched and was due to be completed by the end of the
year.

                        About Terra Firma

Terra Firma is a leading European private equity firm, created
in 2002 as the independent successor to the Principal Finance
Group, a division of Nomura that was created in 1994.  Terra
Firma focuses on buyouts of large, asset-rich and complex
businesses in need of operational and/or strategic change.

Since its inception in 1994, Terra Firma has invested over EUR7
billion of equity and has completed transactions with an
aggregate transaction value of over EUR30 billion.  Terra Firma
has offices in London and Frankfurt.

                            About EMI

Headquartered in London, United Kingdom, EMI Group PLC --
http://www.emigroup.com/-- is the world's largest independent   
music company, operating directly in 50 countries and with
licensees in a further 20.  The group has operations in Brazil,
China, and Hungary.  The group employs over 6,600 people.
Revenues in 2005 were near EUR2 billion and operating profit
generated was over EUR225 million.

At March 31, 2006, EMI Group's consolidated balance sheet
revealed GBP1.817 billion in total assets, GBP2.544 billion in
total liabilities and GBP726.6 million in shareholders' deficit.

The company issued two profit warnings since January 2007.

                         *     *     *

As reported in the TCR-Europe on Aug. 6, 2007, Moody's Investors
Service downgraded EMI Group plc's corporate family and senior
debt ratings to B1 (from Ba3).  All ratings remain under review
for downgrade.

In February 2007, Standard & Poor's Ratings Services lowered its
long-term corporate credit and senior unsecured debt ratings on
U.K.-based music group EMI Group PLC to 'BB-' from 'BB'.  The
'B' short-term rating was affirmed.

At the same time, the long-term corporate credit rating and debt
ratings were put on CreditWatch with negative implications.


HAMBLETON WINDOWS: Claims Filing Period Ends November 28
--------------------------------------------------------
Creditors of Hambleton Windows & Conservatories Ltd. have until
Nov. 28 to send in their names, addresses and descriptions, full
particulars of their debts or claims, and the names and
addresses of their solicitors (if any) to:

         Andrew Andronikou
         Joint Liquidator
         UHY Hacker Young
         St. Alphage House
         2 Fore Street
         London
         EC2Y 5DH
         England

Andrew Andronikou and Peter Alan Kubik of UHY Hacker Young were
appointed joint liquidators of the company on Oct. 17 for the
creditors' voluntary winding-up proceeding.


IPSWICH CAB: Joint Liquidators Take Over Operations
---------------------------------------------------
G. Mummery and M. Weller of Vantis Redhead French Ltd. were
appointed joint liquidators of Ipswich Cab Co. Ltd. on Oct. 24
for the creditors' voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Vantis Redhead French Ltd.
         43-45 Butts Green Road
         Hornchurch
         Essex
         RM11 2JX
         England


ISLAND CONSULTANTS: Calls In Liquidators from Moore Stephens
------------------------------------------------------------
Nigel Price and Mark Elijah Thomas Bowen of Moore Stephens LLP
were appointed joint liquidators of Island Consultants Ltd. on
Oct. 15 for the creditors' voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Moore Stephens LLP
         Beaufort House
         94-96 Newhall Street
         Birmingham
         B3 1PB
         England


NIXA LTD: Claims Filing Period Ends November 26
-----------------------------------------------
Creditors of Nixa Ltd. have until Nov. 26 to send their names
and addresses and particulars of their claims to:

         Matthew Colin Bowker and David Antony Willis
         Joint Liquidators
         Tenon Recovery
         33 George Street
         Wakefield
         WF1 1LX
         England

Matthew Colin Bowker and David Antony Willi of Tenon Recovery
were appointed joint liquidators of the company on Oct. 15 for
the creditors' voluntary winding-up proceeding.


NORTHERN ROCK: Taps Blackstone Group as 3rd Financial Advisor
-------------------------------------------------------------
Northern Rock plc confirmed that The Blackstone Group LP has
been appointed as an additional financial advisor to the
Company, working alongside Merrill Lynch International and
Citigroup Global Markets Limited.

According to Northern Rock, Blackstone will be involved in all
aspects of the company's current strategic review, including
future funding arrangements and the potential reconfiguration of
its balance sheet.  Blackstone has informed the company that it
will not take part in the bidding process, despite press reports
to the contrary.

Northern Rock also notes continuing speculation about
discussions with third parties who are potentially interested in
transactions relating to the company.  The Company further
wishes to confirm that:

   -- it is continuing to work with a number of third parties,
      and has developed further structures which allow it to
      seek additional expressions of interest from other
      parties, as part of its review of all strategic options.

   -- the process is complex and remains at an early stage. All
      proposals the Company has received so far are preliminary
      in nature.

   -- there remains no certainty that any third party
      discussions will lead to a transaction.

As previously announced, the strategic review will be completed
by February 2008.  Further announcements will only be made when
there is greater clarity and significant progress has been made
in relation to the strategic review, Northern Rock said.

Three possible buyers are currently performing due diligence on
Northern Rock:

   -- J.C. Flowers & Co., which recently confirmed that it is
      holding talks over a possible offer.  J.C. Flowers has
      also secured a management team, which it intends to
      appoint to run Northern Rock in the event of a successful
      offer:

   -- Virgin Group Ltd., which bidding consortium includes
      American International Group Inc., WL Ross & Co.,
      Toscafund Asset Management LLP, and First Eastern
      Investment Group; and

   -- Cerberus Capital Management LP, which according to reports
      has the backing of GMAC, in which the firm controls a
      51% stake.

                     About Northern Rock plc

Headquartered in Newcastle upon Tyne, England, Northern Rock plc
-- http://www.northernrock.co.uk/-- is currently the 5th  
largest U.K. 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.


PERFOMAX LTD: Appoints Liquidators from Moore Stephens
------------------------------------------------------
Nigel Price and Mark Elijah Thomas Bowen of Moore Stephens LLP
were appointed joint liquidators of Perfomax Ltd. (t/a Car
Works) on Oct. 12 for the creditors' voluntary winding-up
proceeding.

The joint liquidators can be reached at:

         Moore Stephens LLP
         Beaufort House
         94-96 Newhall Street
         Birmingham
         B3 1PB
         England


PROFILE VENTURES: Hires Liquidators from Vantis Business
--------------------------------------------------------
P. Atkinson and D. Wilson of Vantis Business Recovery Services
were appointed joint liquidators of Profile Ventures Ltd. on
Oct. 25 for the creditors' voluntary winding-up proceeding.

The joint liquidators can be reached at:

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


TATA MOTORS: Consolidated Profit Up 6.39% in Qtr. Ended Sept. 30
----------------------------------------------------------------
Tata Motors Limited disclosed yesterday its financial results
for the second quarter and half year ended Sept. 30, 2007.

                         Second Quarter

Tata Motors reported consolidated revenue (net of excise) at
INR8205.23 crore for the quarter ended September 30, 2007, an
increase of 6.22% over INR7724.71 crore in the corresponding
quarter of 2006-07.  The consolidated PAT was INR570.71 crore,
compared to INR536.44 crore in the corresponding quarter last
year, an increase of 6.39%.

The Company's revenues (net of excise) on a stand-alone basis
was INR6672.65 crore for the quarter ended September 30, 2007,
an increase of 1.33% compared to INR6585.20 crore in the
corresponding quarter of 2006-07.  Profit Before Tax was
INR621.19 crore, an increase of 5.93% over INR586.39 crore in
the corresponding quarter last year, while the Net Profit was
INR526.84 crore, an increase of 19.27% over INR441.72 crore for
the corresponding quarter last year.

The quarter continued to witness high input costs, increased
competitive activity, and the high interest rate regime
affecting retails in the domestic market, in varying degrees
between the commercial and passenger vehicles segments. Together
they impacted the operating margin of the company (net of
foreign exchange gain) in this quarter.  The Company has
initiated multi-pronged action, including cost reduction
initiatives and introduction of new products.

                           Half Year

Consolidated revenue (net of excise) in the first half of 2007-
08 at INR15,836.51 crore recorded an increase of 9.56% as
against INR14,454.26 crore in the first half last year.  The
consolidated PAT at INR1067.93 crore compared to INR918.11
crore, recorded a growth of 16.32%.

The Company's revenues (net of excise) on a stand-alone basis
was INR12729.47 crore in the first half, an increase of 3.20%
compared to INR12334.76 crore in the first half last year.
Profit Before Tax was INR1213.32 crore, an increase of 11.86%
over INR1084.64 crore in the first half last year, while the Net
Profit was INR993.60 crore, an increase of 20.65% over INR823.57
crore in the first half last year.

During the first half, Tata Motors launched several new
vehicles.  In passenger vehicles, the company has introduced the
Indigo LS, an entry level common rail diesel (DICOR) offering in
the sedan range, expanded the long wheel base Indigo XL's range
with the Indigo XL Classic, and launched an upgraded range of
Tata Spacio, its entry level utility vehicle.  The Company also
introduced a new range of commercial vehicles for passenger
transportation, the Magic and the Winger, which are expected to
create new segments.  The mini-truck, Ace, has been introduced
in Nepal.

During the period, the Company improved market share in medium
and heavy trucks, but lost market share in the bus segment
mainly on account of certain supply chain shortages, which is
expected to be made up in the second half.  In passenger
vehicles there has been a marginal loss of market share due to
new entrants in a slowing market and delays in certain of the
Company's products introductions, which should see corrections
in the next year.

The company's audited consolidated financial results for the
quarter and half year, ended Sept. 30, 2007, is available for
free at:

http://ir.tatamotors.com/pdf/2008/Q2FY07-08Consolidated.pdf

The company's audited standalone results for the quarter and
half year, ended Sept. 30, 2007, is available for free at:

http://ir.tatamotors.com/pdf/2008/Q2FY07-08Standalone.pdf

                       About Tata Motors

India's largest automobile company, Tata Motors Limited --
http://www.tatamotors.com/-- is mainly engaged in the business
of automobile products consisting of all types of commercial and
passenger vehicles, including financing of the vehicles sold by
the Company.  The Company's operating segments consists of
Automotive and Others.  In addition to its automotive products,
it offers construction equipment, engineering solutions and
software operations.

Tata Motors has operations in Russia, and the United Kingdom.

                         *     *     *

Standard & Poor's Ratings Services, on July 13, 2007, assigned
its 'BB+' issue rating to the proposed US$490 million zero-
coupon convertible bonds of India's Tata Motors Ltd.
(BB+/Stable/--).  The bonds represent a direct, unsecured and
unsubordinated obligation of the company.  Proceeds from the
bonds will be used for capital expenditure, overseas
investments, acquisitions, and other general corporate purposes.

Moody's Investors Service, on July 26, 2005, gave Tata Motors
'Ba1' long-term corporate family and senior unsecured debt
ratings.


* BOOK REVIEW: Building American Cities: The Urban Real Estate
               Game
--------------------------------------------------------------

Author:     Joe R. Feagin and Robert E. Parker
Publisher:  Beard Books
Paperback:  332 pages
List Price: US$34.95

Order your personal copy at
http://amazon.com/exec/obidos/ASIN/1587981483/internetbankrupt

This book is a volatile story of social conflict that rends the
very fabric of our society, but in the end gives shape to our
urban centers.

This second edition is the startling story of how American
cities emerge, grow, change, contract, decay, and become
resuscitated.

With keen insight, the authors analyze urban social processes,
such as population migration to suburbia and the effect of
foreign capital investment on U.S. real estate ventures.

Examining patterns in the location, development, financing, and
construction decisions of small and large corporations, the book
looks at the interplay of industrial and development
corporations with various levels of government.

In addition to political aspects, it reflects on the social
costs of unbridled urban growth and decline, pollution, wasted
energy, congestion, and the negative impact on minorities.


                            *********

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

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

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

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

                            *********


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

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