TCREUR_Public/080108.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

           Tuesday, January 8, 2008, Vol. 8, No. 5

                            Headlines




A U S T R I A

ARIFOSKI KEG: Creditors' Meeting Slated for Jan. 22
BIO LOGISCH: Claims Registration Period Ends Jan. 9
E. TRADING: Creditors' Meeting Slated for Jan. 14
EMI BAU: Claims Registration Period Ends Jan. 9
EXAKT LLC: Claims Registration Period Ends Jan. 9

H.A.K.I. PERSONALSERVIC: Creditors' Meeting Slated for Jan. 15
I.P.T.S. CONSULTING: Vienna Court Orders Business Shutdown
KRAINER-HAUS: Graz Court Orders Business Shutdown
LAMAR MASSIVHAUS: Creditors' Meeting Slated for Jan. 14
RE-HA REHABILITATIONS: Creditors' Meeting Slated for Jan. 18


B E L G I U M

ARVINMERITOR INC: S&P Holds BB Rating on US$700M Credit Facility
NAVIOS MARITIME: Forms South American Logistics w/ Horamar Group


F R A N C E

DELPHI CORP: Deloitte Settles Securities Fraud Claims for US$38M
DELPHI CORP: Seeks Provisional Allowance of Unreconciled Claims
DELPHI CORP: UAW Objects to Management Compensation Plan
GOODYEAR TIRE: Tire Mounting Biz Sells Assets to EnovaPremier
TILLY-SABCO SA: Morlaix Court Approves Continuity Plan


G E R M A N Y

A 686 BAUPROJEKT: Claims Registration Period Ends Feb. 1
ANTON TWILLEMEIER: Claims Registration Ends January 28
AUTOMATISIERUNG VERPACKUNG: Claims Registration Ends January 28
AUTOMOBILE STEIN-JACOBS: Claims Registration Ends January 28
BACKEREI PAPATYA: Claims Registration Period Ends Jan. 30

BELOCK GMBH: Claims Registration Period Ends Jan. 29
BUCHBINDEREI THOMAS: Claims Registration Period Ends Jan. 31
CADAC GMBH: Claims Registration Period Ends Jan. 29
CDB MONTAGE: Claims Registration Period Ends Jan. 30
CHRYSLER LLC: International Markets Sell 599,618 Units in 2007

COMTRADE AG: Claims Registration Period Ends Feb. 26
CORA WOHNBAU: Claims Registration Period Ends Jan. 30
DIENSTLEISTUNGS- UND SERVICE: Claims Registration Ends Jan. 28
GARANT SCHUH: Exit Bankruptcy After Capital Increase
P3 PLANPROJEKT: Claims Registration Period Ends Jan. 31

SABIC INNOVATIVE: S&P Puts Watch on BB Ratings on Earnings Drop
SAPPHIRE HOTELS: Claims Registration Period Ends Jan. 31
SARUNET CONSULTING: Claims Registration Period Ends Jan. 25
THOMAS ROHBOGNER: Claims Registration Period Ends Jan. 29
THUECOB TECHNOLOGY: Claims Registration Ends January 25

UNI-RENT GEBAUDEREINIGUNGS: Claims Registration Ends Jan. 31
WUNDES & PARTNER: Claims Registration Period Ends Jan. 28
ZENTRALHEIZUNGSBAU JOERG: Creditors' Meeting Slated for Jan. 10


I R E L A N D

AFFILIATED COMPUTER: Inks Strategic Alliance with Ingenix
AFFILIATED COMPUTER: S&P Maintains 'BB' Corporate Credit Rating
ELAN: Lists Over 21,000 Patients on TYSABRI Therapy in Dec. 2007


I T A L Y

IMAX CORP: Turns Over Feinstein Theatre to National Amusements


K A Z A K H S T A N

ALAU CJSC: Proof of Claim Deadline Slated for Feb. 1
DV-RECORDS LLP: Creditors Must File Claims by Feb. 5
ENERGOTURBOSERVICE LLP: Claims Filing Period Ends Feb. 5
EVRO CONSTRUCTION: Creditors' Claims Due on Feb. 5
FINANCE CONSULTING: Claims Registration Ends Feb. 1

FIS LLP: Proof of Claim Deadline Slated for Feb. 1
MAR-MAR TAS: Creditors Must File Claims by Feb. 1
TRANSPORTCNOYE STRAHOVOYE: Claims Filing Period Ends Feb. 5
WIZARD WAY: Creditors' Claims Due on Feb. 5


K Y R G Y Z S T A N

JALAL-ABADSKY ZAVOD: Creditors Must File Claims by January 26


N E T H E R L A N D S

JUBILEE CDO II:  Fitch Rates EUR6.55 Million Class D notes at BB


P O L A N D

GETIN BANK: Fitch Affirms BB IDR with Stable Outlook
MPK LODZ: S&P Rates PLN166 Billion Revenue Bond at BB+


R U S S I A

KUBOVSKY LOGGING: Creditors Must File Claims by Jan. 15
MEDICAL POLYMERIC: Asset Sale Slated for Jan. 16
OBOYANSKAYA FURNITURE: Creditors Must File Claims by Jan. 15
ORSHANSKY FLAX-TREATING: Creditors Must File Claims by Feb. 15
PEARL OJSC: Asset Sale Slated for Jan. 15

TIMBER YARD 10: Creditors Must File Claims by Jan. 15
TUKAI AGRICULTURAL: Asset Sale Slated for Jan. 15
UNTSIA OJSC: Asset Sale Slated for Jan. 16


S W I T Z E R L A N D

ALL-RENT LLC: Berne Court Closes Bankruptcy Proceedings
ARMIFREI ARMIERUNGEN: Basel Court Closes Bankruptcy Proceedings
GLOBAL POS: Zug Court Starts Bankruptcy Proceedings
KIZ KINDERZENTRUM: Creditors' Liquidation Claims Due by Jan. 14
LMP-SERVICE LLC: Creditors' Liquidation Claims Due by January 14

MIFRA JSC: Creditors' Liquidation Claims Due by January 16
OPTIMAL INTERFOOD: Zurich Court Starts Bankruptcy Proceedings
SCHIBLI IMPORT: Creditors' Liquidation Claims Due by January 15
SERPOS JSC: Lucerne Court Closes Bankruptcy Proceedings
SISA GASTRO: Lucerne Court Closes Bankruptcy Proceedings


U K R A I N E

CAPITAL NORTH: Creditors Must File Claims by January 9
DELIVERY OJSCAL: Creditors Must File Claims by January 9
EDELWEISS LLC: Creditors Must File Claims by January 9
GASOLINE STAND: Creditors Must File Claims by January 9
NADRA BANK: Fitch Affirms IDR at B- with Positive Outlook

PETROLEUM INDUSTRY: Creditors Must File Claims by January 9
PROPACK LLC: Creditors Must File Claims by January 9
QUARRY CJSC: Creditors Must File Claims by January 9
SERVICECOM LTD: Creditors Must File Claims by January 9
SHEVCHENKO LLC: Creditors Must File Claims by January 9

SVITOCH LLC: Creditors Must File Claims by January 9
VERMYKULIT LLC: Creditors Must File Claims by January 9


U N I T E D   K I N G D O M

BAA LTD: Taps Balfour Beatty for Heathrow Midfield Pier Project
CHRYSLER LLC: Simon Boag Named Global Alliance Operations EVP
DA VINCI: Fitch Rates EUR15.6 Million Class C Notes at BB+
DURA AUTOMOTIVE: Court Defers DIP Financing Maturity to Jan. 31
DURA AUTOMOTIVE: Restructuring of Canadian Subsidiaries Approved

ELECTAC LTD: Claims Filing Period Ends February 1
FEDERAL-MOGUL: S&P Puts BB- Rating on US$2.96 Bln Senior Loan
GAP INC: Names Simon Kneen as Creative Dir. for Banana Republic
HARKPORT LTD: Brings In Liquidators from Tenon Recovery
INTERNATIONAL POWER: Fitch Affirms IDR at BB with Stable Outlook

MACO REFRIGERATION: Calls In Liquidators from Baker Tilly
MIDCOM LTD: Taps Liquidators from Baker Tilly Restructuring
TATA MOTORS: Moody's May Lower Ba1 Rating After Review
TOP PEOPLE: Claims Filing Period Ends January 31
VONAGE HOLDINGS: Inks Pact Implementing MOU on Sprint's Lawsuit

* Insolvency Lawyer Louise Verrill Joins Brown Rudnick in London

* Large Companies with Insolvent Balance Sheet




                            *********


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


ARIFOSKI KEG: Creditors' Meeting Slated for Jan. 22
---------------------------------------------------
Creditors owed money by KEG ARIFOSKI (FN 279074d) are encouraged
to attend the creditors' meeting at 9:00 a.m. on Jan. 22.

The creditors' meeting will be held at:

         The Land Court of Linz
         Hall 522
         Fifth Floor
         Linz
         Austria

Headquartered in Hoersching, Austria, the Debtor declared
bankruptcy on Nov. 19, 2007 (38 S 61/07k).  Alexander Burkowski
serves as the court-appointed estate administrator of the
bankrupt's estate.

The estate administrator can be reached at:

         Dr. Alexander Burkowski
         Graben 32
         4020 Linz
         Austria
         Tel: 0732/654556
         Fax: 0732/65455657
         E-mail: burkowski.keul@aon.at


BIO LOGISCH: Claims Registration Period Ends Jan. 9
---------------------------------------------------
Creditors owed money by LLC Bio Logisch Handel (FN 271868g) have
until Jan. 9 to file written proofs of claim to court-appointed
estate administrator Reinhard Teubl at:

         Dr. Reinhard Teubl
         Mittergasse 28
         8600 Bruck an der Mur
         Austria
         Tel: 03862-51462
         Fax: 03862-51462-10
         E-mail: rechtsanwaelte@bzt.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on Jan. 23 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Leoben
         Hall IV
         First Floor
         Leoben
         Austria

Headquartered in Kapfenberg, Austria, the Debtor declared
bankruptcy on Nov. 19, 2007 (Bankr. Case No. 17 S 91/07m).


E. TRADING: Creditors' Meeting Slated for Jan. 14
-------------------------------------------------
Creditors owed money by LLC E. Trading Group  (FN 227879t) are
encouraged to attend the creditors' meeting at 9:45 a.m. on
Jan. 14.

The creditors' meeting will be held at:

         The Land Court of Eisenstadt
         Hall F
         Eisenstadt
         Austria

Headquartered in Neusiedl am See, Austria, the Debtor declared
bankruptcy on Nov. 22, 2007  (26 S 156/07d).  Felix Stortecky
serves as the court-appointed estate administrator of the
bankrupt's estate.

The estate administrator can be reached at:

         Dr. Felix Stortecky
         W.A. Mozartstrasse 4
         7093 Jois
         Austria
         Tel: 02160/71207
         Fax: 02160/71207-22
         E-mail: office@stortecky.at


EMI BAU: Claims Registration Period Ends Jan. 9
-----------------------------------------------
Creditors owed money by LLC EMI Bau (FN 275626h) have until
Jan. 9 to file written proofs of claim to court-appointed estate
administrator Edmund Roehlich at:

         Dr. Edmund Roehlich
         Heumarkt 9/I/11
         1030 Vienna
         Austria
         Tel: 713 46 51
         Fax: 713 84 35
         E-mail: proksch@eurojuris.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:50 a.m. on Jan. 23 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1707
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Nov. 16, 2007 (Bankr. Case No. 2 S 156/07i).


EXAKT LLC: Claims Registration Period Ends Jan. 9
-------------------------------------------------
Creditors owed money by LLC Exakt (FN 252812h) have until Jan. 9
to file written proofs of claim to court-appointed estate
administrator Leopold Riess at:

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

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on Jan. 23 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1707
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Nov. 16, 2007  (Bankr. Case No. 2 S 157/07m).  Nikolaus Vogt
represents Dr. Riess in the bankruptcy proceedings.


H.A.K.I. PERSONALSERVIC: Creditors' Meeting Slated for Jan. 15
--------------------------------------------------------------
Creditors owed money by LLC H.A.K.I. Personalservice (FN
267638k) are encouraged to attend the creditors' meeting at 9:30
a.m. on Jan. 15.

The creditors' meeting will be held at:

         The Land Court of Linz
         Hall 522
         Fifth Floor
         Linz
         Austria

Headquartered in Salzburg, Austria, the Debtor declared
bankruptcy on Nov. 16, 2007 (38 S 60/07p).  Rudolf Anton
Mitterlehner serves as the court-appointed estate administrator
of the bankrupt's estate.

The estate administrator can be reached at:

         Dr. Rudolf Anton Mitterlehner
         Landstrasse 9
         4020 Linz
         Austria
         Tel: 0732/771653-0
         Fax: 0732/771653-18
         E-mail: office@bom.at


I.P.T.S. CONSULTING: Vienna Court Orders Business Shutdown
----------------------------------------------------------
The Trade Court of Vienna entered Nov. 19, 2007 an order
shutting down the business of  LLC I.P.T.S. Consulting (FN
234957a).

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

The estate administrator can be reached at:

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

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Nov. 5, 2007 (Bankr. Case No 2 S 148/07p).Kurt Freyler
represents Dr. Rant in the bankruptcy proceedings.


KRAINER-HAUS: Graz Court Orders Business Shutdown
-------------------------------------------------
The Land Court of Graz entered Nov. 19, 2007, an order shutting
down the business of LLC Krainer-Haus (FN 268853y).

Court-appointed estate administrator Wolfgang Dlaskarecommended
the business shutdown after determining that the continuing
operations would reduce the value of the estate.

The estate administrator can be reached at:

         Mag. Wolfgang Dlaska
         Joanneumring 11/4
         8010 Graz
         Austria
         Tel: 0316/825580
         Fax: 0316/825580-10
         E-mail: office@dlaska.at

Headquartered in Gleisdorf, Austria, the Debtor declared
bankruptcy on Nov. 16, 2007 (Bankr. Case No 26 S 101/07h).


LAMAR MASSIVHAUS: Creditors' Meeting Slated for Jan. 14
-------------------------------------------------------
Creditors owed money by LLC Lamar Massivhaus (FN 283823m) are
encouraged to attend the creditors' meeting at 11:15 a.m. on
Jan. 14.

The creditors' meeting will be held at:

         The Land Court of Eisenstadt
         Hall F
         Eisenstadt
         Austria

Headquartered in Klostermarienberg, Austria, the Debtor declared
bankruptcy on Nov. 21, 2007 (26 S 155/07g).  Astrid Haider
serves as the court-appointed estate administrator of the
bankrupt's estate.

The estate administrator can be reached at:

         Mag. Astrid Haider
         Thomas-Alva-Edison-Strasse 2
         7000 Eisenstadt
         Austria
         Tel: 02682/66666
         Fax: 02682/66966
         E-mail: haider@thr.at


RE-HA REHABILITATIONS: Creditors' Meeting Slated for Jan. 18
------------------------------------------------------------
Creditors owed money by LLC re-ha Rehabilitations- und medi-
zinische Produkte (FN 69230i) are encouraged to attend the
creditors' meeting at 10:15 a.m. on Jan. 18.

The creditors' meeting will be held at:

         The Trade Court of Vienna
         Room 1607
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Nov. 19, 2007 (28 S 136/07i). Michael Ludwig Langserves as
the court-appointed estate administrator of the bankrupt's
estate.

The estate administrator can be reached at:

         Mag. Michael Ludwig Lang
         Maria-Theresien-Strasse 9/4
         1090 Vienna
         Austria
         Tel: 319 32 60
         Fax: 319 32 60-9
         E-mail: lang@brandlang.com


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


ARVINMERITOR INC: S&P Holds BB Rating on US$700M Credit Facility
----------------------------------------------------------------
Standard & Poor's Ratings Services said that although
ArvinMeritor Inc. amended its credit agreement on Dec. 10, 2007,
the issue-level rating on its US$700 million revolving credit
facility due 2011 remains unchanged at 'BB' (two notches higher
than the corporate credit rating), and the recovery rating on
this debt remains '1', indicating an expectation of very high
(90%-100%) recovery in the event of a payment default.

The amendments reduced the facility to US$700 million from
US$900 million, incorporated a new financial covenant package,
and modified the pricing schedule.

The corporate credit rating on ArvinMeritor is 'B+', and the
outlook is negative.

"The rating reflects the company's weak profitability, which has
recently kept cash flow negative, along with the cyclical and
competitive pricing pressures of the capital-intensive
automotive and heavy-vehicle component supply industry," said
Standard & Poor's credit analyst Lawrence Orlowski.

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


NAVIOS MARITIME: Forms South American Logistics w/ Horamar Group
----------------------------------------------------------------
Navios Maritime Holdings Inc. has formed a South American
logistics business through the combination of its existing port
operations with the barge and upriver port businesses operated
by the Horamar Group.  The transaction included a payment of
US$112.2 million in cash consideration.

As a result of the transaction, Navios owns 63.8% of the
combined entity, named Navios South American Logistics Inc., and
the former Horamar Group stockholders own the remaining 36.2%.

"We are delighted to disclose the formation of an end-to-end
logistics business which leverages Navios' transshipment
facility in Uruguay with an upriver port facility in Paraguay
and dry and wet barge capacity," Angeliki Frangou, chairman and
CEO of Navios and chairman of NSALI, stated.  "This transaction
marks the successful conclusion of an effort we commenced in
June 2006, when we announced that Navios intended to develop a
South American logistics business."

Since then, we have studied the market, met with key players and
considered a number of opportunities," Ms. Frangou added. "We
are pleased with the business partnership we have formed with
the Lopez family, the principal shareholders of Horamar. We
believe that by blending our businesses, we will develop the
critical mass necessary for us to become a significant regional
player."

"Since we commenced our review, the underlying business
fundamentals have continued to strengthen," Ms. Frangou
continued.  "We plan to grow the combined business by
capitalizing on the region's growing agricultural and mineral
commodity exports through the significant cost advantage river
transport offers compared to alternatives along with our
proprietary port and related infrastructure."

Navios was represented in this transaction by S. Goldman
Advisors LLC.  The Horamar Group was represented by Violy & Co.

Navios was represented in this transaction by Mintz, Levin,
Cohn, Ferris, Glovsky and Popeo, P.C. and the V&P Law Firm.  The
Horamar Group was represented by Chadbourne & Parke LLP.

                       About Horamar Group

The Horamar Group - http://www.horamar.com.ar/-- established in
1975, consists of a group of related companies providing
maritime transportation.  The group specializes in the transport
and storage of liquid cargoes and the transport of dry bulk
cargoes along the Hidrovia passing through Argentina, Bolivia,
Brazil, Paraguay and Uruguay.  It controls a fleet of over 100
barges and vessels, including: (i) 13 push boats; (ii) 55 dry
barges; (iii) 42 tank barges; (iv) 3 LPG tank barges; (v) 2
self-propelled barges; (vi) 2 small oil tankers; (vii) 1
handysize tanker; and (vii) 2 docking platforms.  The group also
owns and operates an upriver oil storage and transfer facility
in Paraguay.

                  About Navios Maritime Holdings

Based in Norwalk, Connecticut, Navios Maritime Holdings Inc.
(NYSE: NM and NM WS) -- http://www.navios.com/-- is an
integrated seaborne shipping company, specializing in the
carriage, trading, storing, and other related logistics
of international dry bulk cargo transportation.  The company
also owns and operates a port/storage facility in Uruguay and
has in-house technical ship management expertise.  It has
offices in Piraeus, Greece, South Norwalk, Connecticut and
Montevideo, Uruguay and Antwerp, Belgium.  For over 50 years,
Navios has worked with raw materials producers, agricultural
traders and exporters, industrial end-users, ship owners, and
charterers.  Navios also owns and operates a port/storage
facility in Uruguay and has in-house technical ship management
expertise.

Navios Maritime Partners L.P. is a Marshall Islands limited
partnership formed by Navios to be an international owner and
operator of drybulk vessels.

                          *     *     *

Navios Maritime carries to date Moody's Investors Service's 'B1'
probability of default rating and 'B3' senior unsecured debt
rating, which were placed in March 2007.


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


DELPHI CORP: Deloitte Settles Securities Fraud Claims for US$38M
----------------------------------------------------------------
An agreement in principle has been reached with Delphi Corp.'s
former outside auditor, Deloitte & Touche LLP, to settle claims
against the auditing firm for US$38,250,000 in cash.

The announcement of the agreement was made by the law firms of
Grant & Eisenhofer P.A., Bernstein Litowitz Berger & Grossmann
LLP, Schiffrin Barroway Topaz & Kessler, LLP, and Nix, Patterson
& Roach, LLP, who are court-appointed co-lead counsel for the
Lead Plaintiffs in the securities class action litigation
involving Delphi, the U.S. auto parts maker now in Chapter 11
bankruptcy proceedings.

The case arises out of alleged accounting improprieties at
Delphi that forced the Company, on June 30, 2005, to restate its
financial results for all fiscal periods dating back to 1999 and
to reverse hundreds of millions of dollars in reported earnings
during those periods.

Lead Plaintiffs

     -- Teachers' Retirement System of Oklahoma,
     -- Public Employees' Retirement System of Mississippi,
     -- Raiffeisen Kapitalanlage Gesellschaft m.b.H., and
     -- Stichting Pensioenfonds ABP

were appointed by a federal court in June 2005 to represent a
proposed class of investors who acquired Delphi securities
between March 7, 2000 and March 3, 2005.

The Complaint filed by those institutional Lead Plaintiffs
asserted claims under the federal securities laws against
Delphi, Deloitte, who was Delphi's outside auditor during the
Class Period, certain officers and directors of Delphi, the
banks that underwrote Delphi's offerings of securities, and
certain other entities.

Judge Gerald E. Rosen, the federal judge in the Eastern District
of Michigan before whom the case is pending, appointed a retired
federal judge, Layn R. Phillips, to serve as a Special Master to
conduct settlement discussions. Following an extensive mediation
conducted by Judge Phillips, Deloitte and Lead Plaintiffs
reached an agreement whereby Deloitte will pay to the Class
US$38,250,000 to settle all claims asserted against Deloitte in
the action.

The settlement is one of the larger settlements obtained from an
accounting firm to settle claims of securities fraud. The
settlement is conditioned on approval by Judge Rosen, who will
pass on the settlement after the members of the Class are given
appropriate notice of the settlement and an opportunity to be
heard.

This settlement follows an earlier settlement in the case, also
arising out of a mediation conducted by Judge Phillips, whereby
Lead Plaintiffs obtained a settlement potentially worth at least
US$284 million from Delphi and its insurance carriers and its
former banks to resolve all claims against Delphi and certain
other defendants. That settlement is contingent upon final
approval by Judge Rosen as well as approval of Delphi's plan of
reorganization in Delphi's Chapter 11 proceeding.

For more information about this settlement, please contact co-
lead counsel for Lead Plaintiffs:

         Stuart Grant, Esq.
         Grant & Eisenhofer P.A.
         1201 North Market Street Wilmington, DE 19801
         Phone: (302) 622-7000

         Bradley E. Beckworth, Esq.
         Nix, Patterson & Roach, LLP
         205 Linda Drive Daingerfield, Texas 75638
         Phone: (903) 645-7333

         John "Sean" P. Coffey, Esq.
         Bernstein Litowitz Berger & Grossmann LLP
         1285 Avenue of the Americas New York, New York 10019
         Phone: (212) 554-1400

         Michael Yarnoff, Esq.
         Schiffrin Barroway Topaz & Kessler, LLP
         280 King of Prussia Road Radnor, PA 19087
         Phone: (610) 667-7706

         Allan Ripp
         Grant & Eisenhofer, P.A.
         Phone: 212-262-7477

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

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

The Debtors' exclusive plan-filing period expires on Dec. 31,
2007.  On Sept. 6, 2007, the Debtors filed their Chapter 11 Plan
of Reorganization and a Disclosure Statement explaining that
Plan.  On Dec. 10, 2007, the Court entered an order approving
the Debtors' Disclosure Statement.  The hearing to consider
confirmation of the Plan is set for Jan. 17, 2008.  (Delphi
Bankruptcy News, Issue No. 104; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)


DELPHI CORP: Seeks Provisional Allowance of Unreconciled Claims
---------------------------------------------------------------
Delphi Corp. and its debtor-affiliates seek the provisional
allowance or estimation of 1,817 claims solely for purposes of
distributing the Discount Rights provided for the in First
Amended Plan of Reorganization.  The estimated allowed amounts
for the claims aggregate US$414,716,298, but majority of the
claims are estimated at US$0.

The Plan provides that each holder of an Allowed General
Unsecured Claim will receive:

   (i) the number of shares of New Common Stock equal to 77.3%
       of the Face Amount of the Allowed Claim and

  (ii) the entitlement to participate in the Discount Rights
       Offering.

Discount Rights are to be distributed on a pro rata basis to
holders of allowed claims in Class C - General Unsecured Claims
under the Plan.  The Plan provides in pertinent part that "[i]f
a Claim of a Discount Rights Offering Eligible Holder is not
Allowed or otherwise reconciled by the Debtors by the date of
commencement of the Confirmation Hearing, such Claim shall be
temporarily allowed, solely for purposes of participation in the
Discount Rights Offering, in the amount so estimated by the
Bankruptcy Court or agreed to by the holder of the claim and the
Debtors."

John Wm. Butler, Jr., Esq., at Skadden, Arps, Slate, Meagher &
Flom LLP, in Chicago, Illinois, relates that to make a pro rata
distribution of the Discount Rights, it is necessary to estimate
or temporarily allow any claims that have not been allowed,
disallowed, or reconciled prior to the commencement of the
Discount Rights Offering.

Although the vast majority of claims against the Debtors have
been allowed or reconciled, there remain a number of
Unreconciled Claims that will need to be estimated or
provisionally allowed for purposes of making the appropriate
calculations for a pro rata distribution of the Discount Rights,
Mr. Butler tells the Court.

A list of the Unreconciled Claims, and their estimated allowed
amounts is available for free at:

   http://bankrupt.com/misc/Delphi_RightsOffering_Caims.pdf

The list includes certain holders of Supplemental Executive
Retirement Program claims for which the holder has not yet filed
a proof of claim, but for whom the Debtors will schedule an
actuarially determined SERP claim prior to the confirmation
hearing so that these claimants are able to participate in the
Discount Rights Offering.

In particular, several claims that were filed as secured claims
or claims with other priority status, but which the Debtors
assert should be reclassified as general unsecured claims, are
included on the list in the amount of US$0 because as currently
classified they are not entitled to participate in the Discount
Rights Offering under the Plan, Mr. Butler explains.

The Debtors note that, to the extent that the Claimants will
receive contract cure payments in cash, and those amounts are
reconciled prior to the commencement of the Discount Rights
Offering, the amount at which the claimants are entitled to
participate in the Discount Rights Offering will be
correspondingly reduced.

The Debtors also propose that, should the provisional allowance
or estimation results in a particular claimant's receiving more
Discount Rights than the claimant should have received based on
the ultimate allowed amount of the claim and those rights are
transferred or exercised, then, in the Reorganized Debtors' sole
discretion, (a) an amount of New Common Stock equivalent to the
value of the Excess Discount Rights will be withheld from the
ultimate distribution to such claimant or (b) the claimant will
be required to remit payment to the Reorganized Debtors in an
amount equal to the value of the Excess Discount Rights.

The Debtors, in this request, do not seek estimation or
temporary allowance of certain claims which, while filed as
general unsecured claims, will not be entitled to distributions
as general unsecured claims.  These claims include Flow-Through
Claims, which are not impaired under the Plan, and certain other
unsecured claims that will be expunged or otherwise resolved on
or shortly after the Effective Date of the Plan, or that have
been or will be satisfied pursuant to other orders of the Court.

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

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

The Debtors' exclusive plan-filing period expires on Dec. 31,
2007.  On Sept. 6, 2007, the Debtors filed their Chapter 11 Plan
of Reorganization and a Disclosure Statement explaining that
Plan.  (Delphi Bankruptcy News, Issue No. 104; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)


DELPHI CORP: UAW Objects to Management Compensation Plan
--------------------------------------------------------
The International Union, United Automobile, Aerospace and
Agricultural Implement Workers of America objects to
confirmation of Delphi Corp. and its debtor-affiliates' Joint
Plan of Reorganization solely based on the Management
Compensation Plan, which was made part of the Plan.

The UAW reserves its right, after taking discovery, to amend,
change or add to the assertions set forth herein, to reflect
facts and evidence discovered.

The proposed MCP includes, among other things, cash and equity
emergence awards to be issued on the Plan's effective date, as
well as other compensation to be paid to executives after the
Effective Date, including a long-term incentive plan that
purports to reserve 8% of Reorganized Delphi's fully diluted new
common stock for annual grants to executives covered by the MCP.

Peter D. DeChiara, Esq., at Cohen, Weiss and Simon LLP, in New
York, avers that among other possible grounds that the UAW may
assert for its objection after taking discovery, the UAW objects
on the ground that Plan, to the extent it contains the
MCP, fails to satisfy Section 1129(a)(3) of the Bankruptcy Code.

Section 1129(a)(3) provides that a court shall only confirm a
plan if it "has been proposed in good faith and not by any means
forbidden by law."

Mr. DeChiara argues that the MCP is not reasonable and is not
fundamentally fair to the UAW-represented employees who made
enormous sacrifices for the Debtors' reorganization.  In
particular, the MCP, he says, violates the "Equivalence of
Sacrifice" provision of the UAW-Delphi-GM Memorandum of
Understanding, which the Court approved on July 19, 2007.

The UAW finds the MCP in its entirety objectionable, in that the
total compensation that it will provide to the executives
covered by it will make it impossible to conclude that the Plan
is fundamentally fair to the UAW-represented employees or that
the executives have sacrificed in a manner equivalent to the
UAW-represented employees.

UAW intends to focus on these provisions on the MCP -- Short-
Term Incentive Plan, the Long-Term Incentive Plan and the
Chapter 11 Effective Date Executive Payments.  These specific
provisions will make the executives covered by it whole or
substantially whole for any compensation they did not receive
because of the Debtors' Chapter 11 filing, Mr. DeChiara relates.
He notes that the UAW-represented employees, by contrast, have
not been and will not be made whole, but have sacrificed
tremendously for the Debtors' reorganization.

Mr. DeChiara adds that the incentives and payments under the
MCP will leave some or all of the executives above market levels
regarding some or all of their compensation.  "To the extent
some or all of the executives are above market levels as a
result of the MCP, the POR is unfair and violates the
equivalence-of-sacrifice requirement."

UAW filed the Amended Objection to heed to certain demands by
the Debtors.  At a meet-and-confer held on Dec. 19, 2007, the
Debtors told UAW that they would not agree to the discovery
requested by the union, unless it (i) amended its preliminary
objection to reflect that it was an objection to confirmation of
the Plan; and (ii) add allegations on the specific provisions of
the MCP to which the UAW was objecting.

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

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

The Debtors' exclusive plan-filing period expires on Dec. 31,
2007.  On Sept. 6, 2007, the Debtors filed their Chapter 11 Plan
of Reorganization and a Disclosure Statement explaining that
Plan.  (Delphi Bankruptcy News, Issue No. 104; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)


GOODYEAR TIRE: Tire Mounting Biz Sells Assets to EnovaPremier
-------------------------------------------------------------
The Goodyear Tire & Rubber Company reported that T&WA Inc., a
tire mounting business based in Louisville, Ky., has sold
substantially all of its assets to EnovaPremier, LLC.  Goodyear
has had a minority ownership interest in T&WA since 1999.

T&WA and EnovaPremier have not disclosed the terms of the
transaction.

Goodyear anticipates recording an after-tax, non-cash loss of
US$30 million to US$35 million in the fourth quarter of 2007 as
a result of the transaction, subject to post-closing
adjustments.

The company said T&WA's exit from the tire and wheel assembly
business is consistent with Goodyear's previously announced
strategy to focus on its core consumer and commercial tire
businesses.  T&WA is a variable interest entity that is
consolidated with Goodyear under generally accepted accounting
principles.

T&WA, a minority business enterprise that was founded in 1995,
supplies mounted and balanced tire and wheel assemblies to auto
manufacturers.  The business operates facilities in Alabama,
Indiana, Kentucky and Michigan.

                      About Goodyear Tire

Headquartered in Akron, Ohio, The Goodyear Tire & Rubber Company
(NYSE: GT) -- http://www.goodyear.com/-- is the world's largest
tire company.  The company manufactures tires, engineered rubber
products and chemicals in more than 90 facilities in 28
countries.  Goodyear's operations are located in Argentina,
Austria, Chile, Colombia, France, Italy, Guatemala, Jamaica,
Peru, Russia, among others.  Goodyear employs more than 80,000
people worldwide.

                         *     *     *

In June 2007, Standard & Poor's Ratings Services raised its
ratings on Goodyear Tire & Rubber Co., including its corporate
credit rating to 'BB-' from 'B+'.  These ratings still apply as
of Dec. 4, 2007.


TILLY-SABCO SA: Morlaix Court Approves Continuity Plan
------------------------------------------------------
The French labor court in Morlaix has approved a continuity plan
for French poultry producer Tilly-Sabco SA, the Financial Times
reports, citing Stanislas du Guerny of Les Echos.

According to the report, under the plan, French cooperative
group Unicopa, Tilly-Sabco's shareholder, will retain ownership
of its site in Guerlesquin.

At the same time, Tilly-Sabco will be able to repay debt in
annual payments until 2017.

David Sauvaget, managing director of Unicopa, told Les Echos
that the group is eyeing to invest EUR6 million in upgrading the
company's facilities.

In 2006, Tilly-Sabco went into receivership after exports were
hit by the bird flu epidemic, FT relates.

The French poultry producer's turnover for 2007 is expected to
reach EUR80 million.

Headquartered in Guerlesquin, France, Tilly Sabco SA --
http://www.tilly-sabco.com/-- rears, processes, ships and
markets frozen whole chickens, giblets, sausages, and trades
poultry portions and processed products.  It was set up 1997
through the merger of two companies, Tilly and Sabco.



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


A 686 BAUPROJEKT: Claims Registration Period Ends Feb. 1
--------------------------------------------------------
Creditors of A 686 Bauprojekt GmbH have until Feb. 1 to register
their claims with court-appointed insolvency manager Dr. Andreas
Ringstmeier.

Creditors and other interested parties are encouraged to attend
the meeting at 10:05 a.m. on March 5, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

          Dr. Andreas Ringstmeier
          Magnusstr. 13
          50672 Cologne
          Germany
          Tel: 0221/650 660
          Fax: +49221650661

The District Court of Cologne opened bankruptcy proceedings
against A 686 Bauprojekt GmbH on Dec. 10, 2007.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

          A 686 Bauprojekt GmbH
          Agrippinawerft 6
          50678 Cologne
          Germany


ANTON TWILLEMEIER: Claims Registration Ends January 28
------------------------------------------------------
Creditors of Anton Twillemeier GmbH & Co. KG have until Jan. 28
to register their claims with court-appointed insolvency manager
Dr. Norbert Kuepper.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Feb. 18, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Dr. Norbert Kuepper
         Paderborner Str. 11
         33415 Verl
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against Anton Twillemeier GmbH & Co. KG on Dec. 1, 2007.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Anton Twillemeier GmbH & Co. KG
         Attn: Hugo Twillemeier, Manager
         Speckenstr. 10
         33397 Rietberg
         Germany


AUTOMATISIERUNG VERPACKUNG: Claims Registration Ends January 28
---------------------------------------------------------------
Creditors of Automatisierung Verpackung Maschinenbau GmbH have
until Jan. 28 to register their claims with court-appointed
insolvency manager Dr. Bruno Kuebler.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on Feb. 26, 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 Dresden
         Hall D131
         Olbrichtplatz 1
         01099 Dresden
         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. Bruno Kuebler
         Nieritzstrasse 14
         01097 Dresden
         Germany
         Web site: http://www.kuebler-gbr.de/

The District Court of Dresden opened bankruptcy proceedings
against Automatisierung Verpackung Maschinenbau GmbH on Dec. 12,
2007.  Consequently, all pending proceedings against the company
have been automatically stayed.

The Debtor can be reached at:

         Automatisierung Verpackung Maschinenbau GmbH
         Attn: Frank Lippert, Manager
         Heidelberger Str. 12
         01189 Dresden
         Germany


AUTOMOBILE STEIN-JACOBS: Claims Registration Ends January 28
------------------------------------------------------------
Creditors of Automobile Stein-Jacobs GmbH have until Jan. 28 to
register their claims with court-appointed insolvency manager
Berthold Brinkmann.

Creditors and other interested parties are encouraged to attend
the meeting at 2:10 p.m. on Feb. 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 Husum
         Hall 4
         Theodor-Storm-Strasse 55
         Husum
         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:

         Berthold Brinkmann
         Sechslingspforte 2
         22087 Hamburg
         Germany

The District Court of Husum opened bankruptcy proceedings
against Automobile Stein-Jacobs GmbH on Dec. 14, 2007.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Automobile Stein-Jacobs GmbH
         Osterender Chaussee 14a
         25870 Oldenswort
         Germany


BACKEREI PAPATYA: Claims Registration Period Ends Jan. 30
---------------------------------------------------------
Creditors of Backerei Papatya GmbH have until Jan. 30 to
register their claims with court-appointed insolvency manager
Jan Koerber.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Feb. 27, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Jan Koerber
         Museumstrasse 2
         D 38100 Braunschweig
         Germany
         Tel: (0531) 240 9620
         Fax: (0531) 240 9670
         E-mail: rakoerber@ragassel.de

The District Court of Braunschweig opened bankruptcy proceedings
against Backerei Papatya GmbH on Dec. 4, 2007.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Backerei Papatya GmbH
         Safiye Aytar, Manager
         Frankfurter Strasse 32
         38122 Braunschweig
         Germany


BELOCK GMBH: Claims Registration Period Ends Jan. 29
----------------------------------------------------
Creditors of BeLock GmbH have until Jan. 29 to register their
claims with court-appointed insolvency manager Dr. Rainer Maus.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on March 5, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Bonn
         Hall S 2.18
         William-Strasse 23
         53111 Bonn
         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. Rainer Maus
         Sporergasse 7
         50667 Koeln
         Germany
         Tel: 0221 - 2726120
         Fax: 0221-27261299

The District Court of Bonn opened bankruptcy proceedings against
BeLock GmbH on Dec. 12, 2007.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         BeLock GmbH
         Nikolaus - A. Otto - Str. 5
         53919 Weilerswist
         Germany

         Attn: Richard Bernardy, Manager
         Ackerstr. 33
         50374 Erftstadt
         Germany


BUCHBINDEREI THOMAS: Claims Registration Period Ends Jan. 31
------------------------------------------------------------
Creditors of Buchbinderei Thomas GmbH have until Jan. 31 to
register their claims with court-appointed insolvency manager
Hubertus Bange.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Feb. 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 Osnabrueck
         Hall N 301
         Kollegienwall 10
         49074 Osnabrueck
         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:

          Hubertus Bange
          Kardinal-von-Galen-Str. 5
          48268 Greven
          Germany
          Tel: 02571/8650
          Fax: 02571/8645

The District Court of Osnabrueck opened bankruptcy proceedings
against Buchbinderei Thomas GmbH on Dec. 14, 2007.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Buchbinderei Thomas GmbH
          Meller Str. 50 A
          49082 Osnabrueck
          Germany


CADAC GMBH: Claims Registration Period Ends Jan. 29
---------------------------------------------------
Creditors of CADAC GmbH have until Jan. 29 to register their
claims with court-appointed insolvency manager Ruediger
Wienberg.

Creditors and other interested parties are encouraged to attend
the meeting at 11:35 a.m. on Jan. 29, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of 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:

         Ruediger Wienberg
         Giesebrechtstr. 1
         10629 Berlin
         Germany

The District Court of Charlottenbur opened bankruptcy
proceedings against CADAC GmbH on Dec. 3, 2007.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         CADAC GmbH
         Lankwitzer Str. 19
         12107 Berlin
         Germany


CDB MONTAGE: Claims Registration Period Ends Jan. 30
----------------------------------------------------
Creditors of CDB Montage und Vertriebs GmbH have until Jan. 30
to register their claims with court-appointed insolvency manager
Dr. Dirk Herzig.

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

The meeting of creditors will be held at:

         The District Court of Chemnitz
         Hall 24 E
         Fuerstenstrasse 21-23
         09130 Chemnitz
         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. Dirk Herzig
         Promenadenstrasse 3
         09111 Chemnitz
         Tel: (0371) 382370
         Fax: (0371) 3823710
         E-Mail: DHerzig@schubra.de

The District Court of Chemnitz opened bankruptcy proceedings
against CDB Montage und Vertriebs GmbH on Dec. 18, 2007.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         CDB Montage und Vertriebs GmbH
         Attn: Andre Berthold, Manager
         Dr.-Charlotte-Kreuzer-Str. 1c
         09337 Hohenstein-Ernstthal
         Germany


CHRYSLER LLC: International Markets Sell 599,618 Units in 2007
--------------------------------------------------------------
Chrysler LLC posted sales of 599,618 units in 2007 for markets
outside the U.S., an 8% increase versus 2006.

In Canada, 232,859 units were sold, a 6% increase while in
Mexico, there was an increase of 0.1%, with 128,541 units sold.

"On behalf of our leadership team, I would like to extend my
thanks and appreciation to Chrysler's global network for a
strong 2007," Bob Nardelli, Chrysler chairman and CEO disclosed.

"This global performance is a great demonstration of what can be
done when all of our employees, dealers, distributors and
suppliers are fully aligned and focused on meeting the needs of
our customers and being competitive in the industry.  As we
continue to grow globally, it's our proud heritage that will
continue to differentiate Chrysler in global markets and
resonate with customers worldwide," Mr. Nardelli added.

With the segment that it created, Chrysler LLC remains the
minivan leader with Dodge Grand Caravan holding the number one
position in the United States with 176,041 units sold in 2007
and ranking second in global sales with 232,000 units sold.
With 30,937 units sold outside North America, Dodge Caliber was
the highest sales volume vehicle for the company.

"We are fortunate that in a tough industry, customers in the
United States, Canada, Mexico and around the world have
responded favorably to our Chrysler, Jeepr and more recently,
Dodge brands,"Jim Press, Chrysler's vice chairman and president,
said.  "This is a revitalized organization, moving in the right
direction, with a renewed emphasis on putting the global
customer first at every step in the process-anxious to serve,
proud of the value and quality of our products.  I am pleased to
say that our global results are beginning to show this."

Sales increases in select markets were driven by the worldwide
appeal and strong customer interest in Chrysler's new vehicles,
including the Jeep Wrangler, Jeep Compass and Jeep Patriot.
Worldwide sales were down less than one percent during 2007 to
2,676,268 units versus 2,698,429 units in 2006.

                 Chrysler International Markets

Spurred by demand for new Chrysler, Jeep and Dodge products,
Chrysler achieved record sales outside North America in 2007,
outselling any previous year in the company's history.  Year-to-
date sales increased 15% to 238,218 units from 2006 results of
206,925 units.  The highest volume markets outside North America
were: Italy (21,361 units); Venezuela (19,459 units); and the
United Kingdom (18,623 units).

                         Chrysler Canada

Chrysler Canada sales rose 6% to 232,859 units in 2007 compared
with 220,553 units sold in 2006, securing the automaker's
position as the No. 2 seller of cars and trucks in Canada.
Furthermore, with the introduction of nine new models in 2007,
Chrysler Canada's sales growth has exceeded that of the Canadian
market by gaining more new customers than any other OEM.

                         Chrysler Mexico

Posting its best sales year since 2001, Chrysler Mexico sales
rose slightly (0.1%) to 128,541 units during 2007. Chrysler
Mexico sales and market share have been consistently increasing
in a competitive market; this growth has been made possible by
the complete product lineup offered by the Chrysler, Dodge and
Jeep brands in the Mexican automotive market.

                      Chrysler U.S. Market

In the United States, Chrysler LLC sold 2,076,650 units in 2007,
a decrease of 3% from the 2,142,505 units in 2006.  Chrysler LLC
continues to invest in new product, including new fuel-efficient
powertrains.  For 2008, the Company will offer six vehicles with
28 miles per gallon or better highway fuel economy including
Jeep Compass, Jeep Patriot, Dodge Avenger, Dodge Caliber,
Chrysler Sebring Sedan and Chrysler Sebring Convertible.  This
combined with the best-in-industry Lifetime Powertrain Warranty
on Chrysler, Jeep, and Dodge vehicles is bringing more customers
to showrooms.

                       About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- a unit of Cerberus Capital
Management LP, produces Chrysler, Jeep(R), Dodge and Mopar(R)
brand vehicles and products.  The company has dealers worldwide,
including Canada, Mexico, U.S., Germany, France, U.K.,
Argentina, Brazil, Venezuela, China, Japan and Australia.

                          *     *     *

As reported in the Troubled Company Reporter on Nov. 12, 2007,
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Chrysler LLC and DaimlerChrysler Financial
Services Americas LLC and removed it from CreditWatch with
positive implications, where it was placed Sept. 26, 2007.  S&P
said the outlook is negative.


COMTRADE AG: Claims Registration Period Ends Feb. 26
----------------------------------------------------
Creditors of Comtrade AG have until Feb. 26 to register their
claims with court-appointed insolvency manager Jens-Soeren
Schroeder.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on March 26, 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:

         Jens-Soeren Schroeder
         Raboisen 38
         20095 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against Comtrade AG on Dec. 28, 2007.  Consequently, all pending
proceedings against the company have been automatically stayed.

Headquartered in Hamburg, Germany, Comtrade AG --
http://www.comtrade.de/-- provides financing for IT systems and
to bring together the supply and demand for the procurement and
marketing of IT systems on a single trading platform.  The
company also distributes and develops hardware and software
products.


CORA WOHNBAU: Claims Registration Period Ends Jan. 30
-----------------------------------------------------
Creditors of CoRA Wohnbau GmbH have until Jan. 30 to register
their claims with court-appointed insolvency manager Andrea
Schnattinger.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on Feb. 26, at which time the
insolvency manager will present her first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Wuerzburg
         Hall. 14/II
         Tiepolostr. 6
         Wuerzburg
         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. Andrea Schnattinger
         Theaterstr. 2
         97070 Wuerzburg
         Germany
         Tel: 0931/3294118

The District Court of Wuerzburg opened bankruptcy proceedings
against CoRA Wohnbau GmbH on Dec. 17, 2007.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         CoRA Wohnbau GmbH
         Attn:  Kornelia Mueller, Manager
         Friedrich-Spee-Str. 49
         97072 Wuerzburg
         Germany


DIENSTLEISTUNGS- UND SERVICE: Claims Registration Ends Jan. 28
--------------------------------------------------------------
Creditors of Dienstleistungs- und Service GmbH have until
Jan. 28 to register their claims with court-appointed insolvency
manager Dr. Christoph Junker.

Creditors and other interested parties are encouraged to attend
the meeting on March 13, during which the insolvency manager
will present his first report on the insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Chemnitz
         Fuerstenstrasse 21-23
         09130 Chemnitz
         Germany

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

The insolvency manager can be reached at:

         Dr. Christoph Junker
         Horst-Menzel-Strasse 12-22
         09112 Chemnitz
         Germany
         Tel: (0371) 3550505
         Fax: (0371) 3550515
         E-mail: chemnitz@junker-kollegen.de

The District Court of Chemnitz opened bankruptcy proceedings
against Dienstleistungs- und Service GmbH on Dec. 13, 2007.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Dienstleistungs- und Service GmbH
         Attn: Wolfgang Schoenherr and Juergen Winkler, Managers
         Talstr. 19
         09518 Grossrueckerswalde
         Germany


GARANT SCHUH: Exit Bankruptcy After Capital Increase
----------------------------------------------------
The insolvency proceedings against Garant Schuh + Mode AG has
been lifted after shareholder approval of a capital increase,
Frankfurter Allgemeine Zeitung reports.

Garant is no longer in bankruptcy, with effect from Jan. 1.
After three years, the Board has now the power to dispose of the
company's assets.

                       Capital Measures

According to Financial Times Deutschland, Friedrich Wilhelm
Metzeler, the insolvency administrator, obtained fresh capital
for Garant via a trust company.

As previously reported in the TCR-Europe on Nov. 8, 2007, citing
Borsen Zeitung, Erste Amplificator is a trust firm created by
the insolvency administrator to acquire new shares on Garant's
upcoming capital increase.  Following the capital hike, Erste
Amplificator will hold a 76% stake in the company.

The trust company, which owns 90% of shares in the group and
holds all the voting rights, is set to be sold to strategic
investors by mid-2008, Financial Times Deutschland relates.

Mr. Metzeler, which accompanied the insolvency procedure since
Sept. 7, 2004, will supervise in the future not only the
fulfillment of the insolvency plan, but also will see to it that
the trust company pass shares held from the capital increase to
one or more strategic investors.

In March 2007, Garant's shareholders voted to launch capital
measures to get out of insolvency and avoid liquidation.

The capital measures initially entail cutting the share capital
and then increasing it by issuing new stocks at EUR9.63 per
share.  Current shareholders would see their holdings diluted to
24%, while new investors could control up to 76% of voting
rights.

                            Financing

The future financing of the various business areas of Garant is
both through loan commitments from banks and the continuation of
the contract with the ABS-backed service provider.  Garant is
currently working with about 3,500 dealers, over 5,200 specialty
stores operate in Europe, and with more than 2,100 contract
suppliers.

Garant plans for 2008, a growth of five percent compared to last
year.  In particular, the positive developments on the European
foreign market open good prospects for the company.  In
addition, the company with the winning back of contract
suppliers during the bankruptcy proceedings, the business
relationship was interrupted, and with the connection of
Neugewinnung houses.

"We are pleased that we are after a difficult insolvency
proceedings now fully on our customers and markets," Robert
Natter, CEO of Garant, said.

Headquartered in Duesseldorf, Germany, Garant Schuh & Mode AG --
http://www.garantschuh.de/-- retails footwear, leather goods
and accessories.  The Garant Schuh & Mode group is a cooperative
of 4,000 stockists in 14 European countries, with a total of
5,800 stores.  The Company has member firms in Germany, France,
the Netherlands, Austria and Belgium.

Garant Schuh filed for commencement of bankruptcy proceedings in
September 2004 after failing to obtain cash from banks to cover
a financing gap.  The District Court of Duesseldorf opened
bankruptcy proceedings against the company in December 2004.


P3 PLANPROJEKT: Claims Registration Period Ends Jan. 31
-------------------------------------------------------
Creditors of P3 PlanProjekt GmbH have until Jan. 31 to register
their claims with court-appointed insolvency manager Juergen
Holst.

Creditors and other interested parties are encouraged to attend
the meeting at 8:45 a.m. on Feb. 15, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Norderstedt
         Hall B
         Rathausallee 80
         22846 Norderstedt
         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:

          Juergen Holst
          Flughafenstrasse 52b
          22335 Hamburg
          Germany

The District Court of Norderstedt opened bankruptcy proceedings
against P3 PlanProjekt GmbH on Dec. 5, 2007.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         P3 PlanProjekt GmbH
         Attn: Sandro Preiss, Manager
         Dorfstrasse 54
         23826 Bark
         Germany


SABIC INNOVATIVE: S&P Puts Watch on BB Ratings on Earnings Drop
---------------------------------------------------------------
Standard & Poor's Ratings Services placed the 'BB' long-term
corporate credit rating on SABIC Innovative Plastics Holding
B.V. on CreditWatch with negative implications after a
significant earnings drop in third quarter of 2007 and news of
weaker prospects for the polycarbonate markets in 2008. Ratings
on all issues were also placed on CreditWatch negative.

SABIC Innovative Plastics reported its first stand-alone results
for the year ending Sept. 30, 2007.  Reported operating profit
was significantly below expectations with pro forma EBITDA for
third quarter of 2007 at US$115 million.  This is US$156 million
lower than performance in third quarter of 2006.

"The weaker results are largely due to inflated raw material
costs and a 3% decline in volumes in the third quarter," said
Standard & Poor's credit analyst Tobias Mock. "Although third-
quarter selling prices were up 1%, this did not offset the
inflationary pressure from raw materials.  We had expected
the company to show stronger pricing power and to pass on its
higher raw material costs to its customers."

The first covenant test of debt to consolidated EBITDA will be
on June 30, 2008, and Standard & Poor's is concerned that the
company could breach this covenant because of its poor
performance in third quarter and the lack of indicators of a
fast recovery of the polycarbonate industry.

Mr Mock commented: "We expect that Saudi Basic Industries Corp.
will likely have to offer some parental support in 2008 to
protect its subsidiary SABIC Innovative Plastics from a distress
scenario."

Standard & Poor's review will focus on the polycarbonate
markets' business prospects and how these affect the stand-alone
assessment of SABIC Innovative Plastics, as well as the parental
support factored into the ratings. Currently, we have assigned a
'B' stand-alone assessment to SABIC Innovative Plastics, with
three notches uplift due to expected parental support.

S&P plans to resolve the CreditWatch placement after meeting
SABIC Innovative Plastics and Saudi Basic Industries management
in the coming weeks.


SAPPHIRE HOTELS: Claims Registration Period Ends Jan. 31
--------------------------------------------------------
Creditors of Sapphire Hotels GmbH have until Jan. 31 to register
their claims with court-appointed insolvency manager Dr. Jan
Markus Plathner.

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

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Dr. Jan Markus Plathner
         Lyoner Strasse 14
         60528 Frankfurt am Main
         Germany
         Tel: (069) 9623 34-0
         Fax: (069) 9623 34-22
         E-mail: m.plathner@brinkmann-partner.de

The District Court of Friedberg (Hessen) opened bankruptcy
proceedings against Sapphire Hotels GmbH on Dec. 5, 2007.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Sapphire Hotels GmbH
          Gartenstrasse 46
          61194 Niddatal-Ilbenstadt
          Germany


SARUNET CONSULTING: Claims Registration Period Ends Jan. 25
-----------------------------------------------------------
Creditors of SARUNET Consulting GmbH have until Jan. 25 to
register their claims with court-appointed insolvency manager
Markus Lehmkuehler.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on March 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 Bonn
         Hall W 1.24c
         William-Strasse 23
         53111 Bonn
         Germany

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

The insolvency manager can be reached at:

         Markus Lehmkuehler
         Wilhelmstr. 40
         53111 Bonn
         Germany
         Tel: 0228/92 66 60
         Fax: 92 66 699

The District Court of Bonn opened bankruptcy proceedings against
SARUNET Consulting GmbH on Dec. 14, 2007.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         SARUNET Consulting GmbH
         Attn: Farrukh Salim, Manager
         Koelnstr. 133
         53111 Bonn
         Germany


THOMAS ROHBOGNER: Claims Registration Period Ends Jan. 29
---------------------------------------------------------
Creditors of Thomas Rohbogner Holzagentur GmbH have until
Jan. 29 to register their claims with court-appointed insolvency
manager Susanne Fittkau.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on Feb. 19, at which time the
insolvency manager will present her first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Weilheim i.OB
         Meeting Hall E 007
         Waisenhausstr. 5
         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:

         Susanne Fittkau
         Barthstr. 16
         80339 Munich
         Germany
         Tel: 089/8589633
         Fax: 089/85896350

The District Court of Weilheim i.OB opened bankruptcy
proceedings against Thomas Rohbogner Holzagentur GmbH on Dec. 4,
2007.  Consequently, all pending proceedings against the company
have been automatically stayed.

The Debtor can be reached at:

         Thomas Rohbogner Holzagentur GmbH
         Gartenstr. 32 a
         82343 Poecking
         Germany


THUECOB TECHNOLOGY: Claims Registration Ends January 25
-------------------------------------------------------
Creditors of THUECOB technology GmbH have until Jan. 25 to
register their claims with court-appointed insolvency manager
Dr. Thomas Wazlawik.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on Feb. 26, 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 Passau
         Meeting Hall 12a
         Ground Floor
         Schustergasse 4
         Passau
         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. Thomas Wazlawik
         Luragogasse 5
         94032 Passau
         Germany
         Tel: 0851/490548-0
         Fax: 0851/490548-9

The District Court of Passau opened bankruptcy proceedings
against THUECOB technology GmbH on Dec. 17, 2007.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         THUECOB technology GmbH
         Lautensackstr. 25
         94036 Passau
         Germany


UNI-RENT GEBAUDEREINIGUNGS: Claims Registration Ends Jan. 31
------------------------------------------------------------
Creditors of Uni-Rent Gebaudereinigungs GmbH have until Jan. 31
to register their claims with court-appointed insolvency manager
Dr. Petra Mork.

Creditors and other interested parties are encouraged to attend
the meeting at 10:10 a.m. on Feb. 28, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Dortmund
         Hall 3.201
         Second Floor
         Gerichtsplatz 1
         44135 Dortmund
         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. Petra Mork
          Arndtstr. 28
          44135 Dortmund
          Germany

The District Court of Dortmund opened bankruptcy proceedings
against Uni-Rent Gebaudereinigungs GmbH on Dec. 12.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Uni-Rent Gebaudereinigungs GmbH
          Sachsenweg 9
          59073 Hamm
          Germany


WUNDES & PARTNER: Claims Registration Period Ends Jan. 28
---------------------------------------------------------
Creditors of Wundes & Partner Immobilien GmbH have until Jan. 28
to register their claims with court-appointed insolvency manager
Robert Fliegner.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 a.m. on Feb. 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 Wuppertal
         Meeting Room A234
         Second Floor
         Isle 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:

         Robert Fliegner
         Gruenewalder Str. 29-31
         42657 Solingen
         Tel: 0212 / 24 94 200
         Fax: 0212/24 94 201

The District Court of Wuppertal opened bankruptcy proceedings
against Wundes & Partner Immobilien GmbH on Dec. 18, 2007.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Wundes & Partner Immobilien GmbH
         Attn: Ulrich Esterluss
               Michael Hauck, Managers
         Bahnhofstrasse 17
         42781 Haan
         Germany


ZENTRALHEIZUNGSBAU JOERG: Creditors' Meeting Slated for Jan. 10
---------------------------------------------------------------
The court-appointed insolvency manager for Zentralheizungsbau
Joerg-Detlef Nawrotzki GmbH, Petra Hilgers, will present her
first report on the Company's insolvency proceedings at a
creditors' meeting at noon on Jan. 10.

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

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

The Court will also verify the claims set out in the insolvency
manager's report at 11:35 a.m. on March 13 at the same venue.

Creditors have until Jan. 31 to register their claims with the
court-appointed insolvency manager.

The insolvency manager can be reached at:

         Dr. Petra Hilgers
         Goethestr. 85
         10623 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Zentralheizungsbau Joerg-Detlef Nawrotzki
GmbH on Nov. 30, 2007.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be reached at:

         Zentralheizungsbau Joerg-Detlef Nawrotzki GmbH
         Binzstrasse 11
         13189 Berlin
         Germany


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


AFFILIATED COMPUTER: Inks Strategic Alliance with Ingenix
---------------------------------------------------------
Affiliated Computer Services, Inc. and Ingenix has disclosed a
strategic alliance to provide Medicaid Management Information
Systems decision support solutions to state governments.

Under the terms of the alliance agreement, the two companies
will work with each other to supply decision support solutions
for Affiliated Computer's state Medicaid Systems initiatives.
Affiliated Computer will license its portfolio of federally
certified decision support technologies to Ingenix, which will
provide its Medicaid Systems clients with a broad array of
decision support methodologies, software applications, and
related consulting services.  Decision support systems analyze
data to help health administrators assess Medicaid program
status, analyze healthcare policy, monitor budget trends and
measure program performance.

"This partnership allows us to enhance our current systems and
deliver better service to our Medicaid clients," said Affiliated
Computer senior vice president and managing director, Government
Healthcare Solutions, Christopher T. Deelsnyder.  "Combining
Ingenix' innovative decision support capabilities with ACS'
technologies strengthens our ability to streamline and improve
the delivery of healthcare in Medicaid programs."

Impact Pro for Care Management is Ingenix' innovative platform
for helping state Medicaid programs better identify and manage
both chronic and acute health conditions.  This predictive
modeling and care management tool is currently being used by the
ACS-Ingenix alliance to support the State of Mississippi's
Division of Medicaid.

"This relationship brings together an unparalleled set of data,
technology and experience that will increase efficiency, reduce
costs and improve care outcomes for Medicaid recipients and the
state governments that manage their health services," said
Ingenix chief executive officer, Andy Slavitt.  "Together, we
will offer a unique set of solutions that will help us grow our
respective businesses by giving our clients a suite of services
that meet their expectations."

                        About Ingenix

Ingenix -- http://www.ingenix.com/--, a wholly owned subsidiary
of UnitedHealth Group (NYSE: UNH), transforms organizations and
improves health care through information and technology.
Organizations rely on its innovative products, services and
consulting to improve the delivery and operations of their
business.

              About Affiliated Computer Services

Headquartered in Dallas, Affiliated Computer Services Inc.
(NYSE: ACS) -- http://www.AffiliatedComputer-inc.com/--
provides business process outsourcing and information technology
solutions to world-class commercial and government clients.  The
company has more than 58,000 employees supporting client
operations in nearly 100 countries.  The company has global
operations in Brazil, China, Dominican Republic, India,
Guatemala, Ireland, Philippines, Poland, and Singapore.

                       *     *     *

As reported in the Troubled Company Reporter-Latin America on
Dec. 5, 2007, Fitch Ratings has removed Affiliated Computer
Services, Inc. from Rating Watch Negative and affirmed these
ratings: Issuer Default Rating 'BB'; Senior secured revolving
credit facility at 'BB'; Senior secured term loan at 'BB';
Senior notes at 'BB-'.

Fitch said the rating outlook is stable.


AFFILIATED COMPUTER: S&P Maintains 'BB' Corporate Credit Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' corporate
credit rating on Dallas, Texas-based Affiliated Computer
Services Inc., and removed it from CreditWatch, where it had
been placed with negative implications on March 20, 2007.   The
outlook is negative.

The affirmation follows the withdrawal of a buyout offer by
private equity firm Cerberus Capital Management, and led by ACS'
chairman and founder, for over US$8 billion (including the
assumption of debt).

"Although ACS' current debt levels (in the 3x area) are somewhat
moderate for the rating given ACS' satisfactory business
profile, the company has exhibited a much more aggressive
financial policy in its willingness to pursue an LBO, and it may
continue to pursue ongoing acquisitions and share repurchases,"
said Standard & Poor's credit analyst Philip Schrank.  "At the
'BB' rating level, our expectation is that ACS will manage its
debt leverage at 3x-5x over the intermediate term, which would
allow it to complete its
outstanding US$800 million share repurchase program, as well as
make some moderate-size acquisitions."

The negative outlook reflects ACS' ability within its credit
facilities to significantly increase debt to finance sizable
share repurchases or acquisitions, if it desires.

Headquartered in Dallas, Affiliated Computer Services Inc.
(NYSE: ACS) -- http://www.AffiliatedComputer-inc.com/--
provides business process outsourcing and information technology
solutions to world-class commercial and government clients.  The
company has more than 58,000 employees supporting client
operations in nearly 100 countries.  The company has global
operations in Brazil, China, Dominican Republic, India,
Guatemala, Ireland, Philippines, Poland, and Singapore.


ELAN: Lists Over 21,000 Patients on TYSABRI Therapy in Dec. 2007
----------------------------------------------------------------
Biogen Idec and Elan Corporation plc disclosed new data on the
global utilization, safety and overall patient exposure of
TYSABRI(R) (natalizumab).

As of late December 2007, more than 21,000 patients were on
commercial and clinical therapy worldwide.  To date, the safety
data continue to support a favorable benefit-risk profile for
TYSABRI.  These data will be presented today at 4:00 p.m. PST on
Jan. 7 at the 26th Annual JPMorgan Healthcare Conference in San
Francisco.

According to data available to the companies as of late December
2007:

   -- In the US, approximately 12,900 patients were on TYSABRI
      therapy commercially and approximately 2,500 physicians
      have prescribed the therapy;

   -- Internationally, approximately 7,500 patients were on
      TYSABRI therapy commercially;

   -- In global clinical trials, approximately 700 patients were
      on TYSABRI therapy; and

   -- There have been no cases of progressive multifocal
      leukoencephalopathy since re-launch in the US and
      launch internationally in July 2006.

In addition, as of mid-December 2007:

   -- Cumulatively, in the combined clinical trial and
      postmarketing settings, up to 30,900 patients have been
      treated with TYSABRI; and

   -- Of those patients, up to 6,300 have received at least one
      year of TYSABRI therapy.

TYSABRI is available in the United States through the TOUCH(TM)
Prescribing Program.  All US prescribers, infusion sites and
patients receiving TYSABRI are required to enroll in TOUCH.
Safety information is also collected through ongoing clinical
trials and registries, including TYGRIS and the pregnancy
registry, making this the largest long-term patient follow-up
effort undertaken for any MS therapy.

                    About TOUCH and TYGRIS

Before initiating treatment, all US patients, prescribers and
infusion sites must be enrolled in the TOUCH Prescribing Program
(TYSABRI Outreach: Unified Commitment to Health).  TOUCH is
designed to determine the incidence of and risk factors for
serious opportunistic infections, including PML, and to
monitor patients for signs and symptoms of PML while promoting
informed benefit-risk discussions prior to initiating TYSABRI
treatment.  Physicians report on PML, other serious OIs, deaths
and discontinuation of therapy on an ongoing basis.

TYGRIS (TYSABRI Global ObseRvation Program In Safety) is
expected to enroll 5,000 patients worldwide, including
approximately 3,000 patients from TOUCH.  Patients in TYGRIS are
evaluated at baseline and every six months thereafter for five
years.  Researchers will evaluate data including medical/MS
history; prior TYSABRI use; prior use of immunomodulatory,
antineoplastic, or immunosuppressive agents; and all serious
adverse events, including PML and other serious OIs, and
malignancies.

Adverse event reporting in the post-marketing setting is
voluntary.  It is possible that not all reactions have been
reported, or that some reactions are not reported to Biogen or
Elan in a timely manner.

                         About TYSABRI

TYSABRI is a treatment approved for relapsing forms of MS in the
United States and relapsing-remitting MS in the European Union.
According to data that have been published in the New England
Journal of Medicine, after two years, TYSABRI treatment led to a
68% relative reduction (p<0.001) in the annualized relapse
rate compared to placebo and reduced the relative risk of
disability progression by 42-54% (p<0.001).

TYSABRI increases the risk of PML, an opportunistic viral
infection of the brain that usually leads to death or
severe disability.  Other serious adverse events that have
occurred in TYSABRI-treated patients included hypersensitivity
reactions (e.g., anaphylaxis) and infections. Serious
opportunistic and other atypical infections have been
observed in TYSABRI-treated patients, some of whom were
receiving concurrent immunosuppressants.  Herpes infections were
slightly more common in patients treated with TYSABRI.  In MS
trials, the incidence and rate of other serious and common
adverse events, including the overall incidence and rate of
infections, were balanced between treatment groups.  Common
adverse events reported in TYSABRI-treated patients include
headache, fatigue, infusion reactions, urinary tract infections,
joint and limb pain, and rash.

In addition to the United States and European Union, TYSABRI is
also approved for MS in Switzerland, Canada, Australia, New
Zealand and Israel.  TYSABRI was discovered by Elan and is co-
developed with Biogen.

                         About the Company

Headquartered in Ireland, Elan Corporation plc (NYSE: ELN) --
http://www.elan.com/-- is a neuroscience-based biotechnology
company.  Elan shares trade on the New York, London and Dublin
Stock Exchanges.

                          *     *     *

As reported in the TCR-Europe on Oct. 15, 2007, Standard &
Poor's Ratings Services revised its outlook on Elan
Corp. PLC to positive from stable and affirmed the ratings on
the company and its subsidiaries, including the 'B' corporate
credit rating.

In April 2007, in connection with the implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the corporate families in the Gaming, Lodging
and Leisure, Manufacturing, and Energy sectors, Moody's
Investors Service confirmed its B3 Corporate Family Rating for
Elan Corporation plc and assigned a B2 probability-of-default
rating to the company.

Debt ratings remain unchanged in conjunction with the
implementation of Moody's Loss Given Default and Probability of
Default rating methodology for existing non-financial
speculative-grade corporate issuers in Europe, Middle East and
Africa.

* Issuer: Elan Finance plc
                                                Projected
                              Debt     LGD      Loss-Given
   Debt Issue                 Rating   Rating   Default
   ----------                 -------  -------  --------
   US$300M Senior Unsecured
   Regular Bond/Debenture
   Due 2011                     B3      LGD4       65%

   US$300M Senior Unsecured
   Regular Bond/Debenture
   Due 2011                     B3      LGD4       65%

   US$150M Senior Unsecured
   Regular Bond/Debenture
   Due 2013                     B3      LGD4       65%

   US$850M 7.75% Senior Unsecured
   Regular Bond/Debenture
   Due 2011                     B3      LGD4       65%

   US$465M 8.875% Senior Unsecured
   Regular Bond/Debenture
   Due 2013                     B3      LGD4       65%



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


IMAX CORP: Turns Over Feinstein Theatre to National Amusements
--------------------------------------------------------------
IMAX Corporation has sold the Feinstein IMAX(R) Theatre in
Providence, Rhode Island to National Amusements Inc.  The IMAX
theatre had been owned and operated by IMAX Corporation since it
opened in June, 2000.  Under the terms of the sale, National
Amusements assumed ownership and control of the theatre
effective close of business on Dec. 31, 2007.

"IMAX theatres are becoming an increasingly important component
of today's modern multiplex and nothing underscores this more
than when the world's top exhibitors increase the number of IMAX
screens they operate," IMAX Co-CEOs and Co-chairmen Richard L.
Gelfond and Bradley J. Wechsler, said.  "National Amusements has
been a phenomenal IMAX operator both domestically and
internationally, and we are pleased they are expanding their
IMAX presence in Providence."

National Amusements is an exhibitor that operates IMAX theatres
on three continents - with a total of 9 IMAX theatres in North
America, South America and Europe.  The exhibitor's purchase of
the Feinstein IMAX Theatre in Providence, Rhode Island was made
on the box office year for the IMAX theatre network, which
showcased IMAX releases that included 300, Spider-Man 3, Harry
Potter and the Order of the Phoenix, Transformers, Beowulf and I
Am Legend.

IMAX and National Amusements both have marketing partnerships
with Movietickets.com, giving North American consumers greater
access to The IMAX Experience(R).  National Amusements' current
IMAX locations in North America are at City Center 15: Cinema de
Lux in White Plains, New York; Showcase Cinemas Stonybrook in
Louisville, Kentucky; Showcase Cinemas Buckland Hills in
Manchester, Connecticut; Springdale 18: Cinema de Lux in
Springdale, Ohio; and The Bridge: Cinema de Lux in Los Angeles,
CA; Showcase Cinemas Ann Arbor in Ypsilanti, Michigan.

Internationally, the exhibitor's IMAX locations are the IMAX
Theatre at Center Norte in Buenos Aires well as the Coca-Cola
IMAX Kinostar City in St. Petersburg, Russia.

                  About National Amusements Inc.

Based in Dedham, Massachusetts, National Amusements Inc. --
http://www.national-amusements.com/-- is into the motion
picture exhibition industry operating more than 1,500 screens in
the U.S., U.K., Latin America and Russia.  National Amusements
delivers entertainment experience in theatres around the world
under its Showcase, Multiplex, Cinema de Lux, and KinoStar
brands.  It is a closely held company operating under the third
generation of Redstone family. National Amusements is also an
equal partner in the online ticketing service, MovieTickets.com,
and is the parent company of both Viacom and CBS Corporation.

                      About IMAX Corporation

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

                          *     *     *

As reported in the Troubled Company Reporter on Dec. 27, 2007,
Standard & Poor's Ratings Services revised its outlook on IMAX
Corp. to stable from positive.  S&P also affirmed the ratings on
the company, including the 'CCC+' corporate credit rating.


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


ALAU CJSC: Proof of Claim Deadline Slated for Feb. 1
----------------------------------------------------
The Specialized Inter-Regional Economic Court of North
Kazakhstan has declared CJSC SP Alau insolvent.

Creditors have until Feb. 1 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of North Kazakhstan
         Micro District 28, 35-25
         Aktau
         Mangistau
         Kazakhstan
         Tel: 7 (7292) 40-21-53
              7 701 522 81-61


DV-RECORDS LLP: Creditors Must File Claims by Feb. 5
----------------------------------------------------
LLP DV-Records has declared insolvency.  Creditors have until
Feb. 5 to submit written proofs of claims to:

         LLP DV-Records
         Kurmangazy Str. 56
         Almaty
         Kazakhstan


ENERGOTURBOSERVICE LLP: Claims Filing Period Ends Feb. 5
--------------------------------------------------------
LLP Energoturboservice has declared insolvency.  Creditors have
until Feb. 5 to submit written proofs of claims to:

         LLP Energoturboservice
         Kulmanov Str. 152-21
         Atyrau
         Kazakhstan


EVRO CONSTRUCTION: Creditors' Claims Due on Feb. 5
--------------------------------------------------
LLP Evro Construction Company has declared insolvency.
Creditors have until Feb. 5 to submit written proofs of claims
to:

         LLP Evro Construction Company
         Moskvin Str. 13
         Almaty
         Kazakhstan


FINANCE CONSULTING: Claims Registration Ends Feb. 1
---------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty has
declared LLP Finance Consulting Ltd. insolvent on Nov. 5, 2007.

Creditors have until Feb. 1 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Almaty
         Prokofiyev Str. 41-3
         050005, Almaty
         Kazakhstan
         Tel: 8 (3272) 95-85-86
              8 701 756 42-06


FIS LLP: Proof of Claim Deadline Slated for Feb. 1
--------------------------------------------------
The Tax Committee of Almaty has ordered the compulsory
liquidation of LLP FIS (RNN 091600210122).

Creditors have until Feb. 1 to submit written proofs of claims
to:

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


MAR-MAR TAS: Creditors Must File Claims by Feb. 1
-------------------------------------------------
The Tax Committee of Almaty has ordered the compulsory
liquidation of LLP Mar-Mar Tas (RNN 091600210133).

Creditors have until Feb. 1 to submit written proofs of claims
to:

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


TRANSPORTCNOYE STRAHOVOYE: Claims Filing Period Ends Feb. 5
-----------------------------------------------------------
South Kazakhstan Branch of JSC Transportcnoye Strahovoye
Obshestvo has declared insolvency.  Creditors have until Feb. 5
to submit written proofs of claims to:

         JSC Transportcnoye Strahovoye Obshestvo
         Aibergenov Str. 10/1
         Shymkent
         South Kazakhstan
         Kazakhstan
         Tel: 8 (7252) 54-11-60


WIZARD WAY: Creditors' Claims Due on Feb. 5
-------------------------------------------
LLP Wizard Way has declared insolvency.  Creditors have until
Feb. 5 to submit written proofs of claims to:

         LLP Wizard Way
         Zenkov Str. 94
         Almaty
         Kazakhstan



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


JALAL-ABADSKY ZAVOD: Creditors Must File Claims by January 26
-------------------------------------------------------------
LLC Jalal-Abadsky Zavod Torgovogo Oborudovaniya has declared
insolvency.  Creditors have until Jan. 26 to submit written
proofs of claim to:

         LLC Jalal-Abadsky Zavod Torgovogo Oborudovaniya
         Promzona
         Djalal-abad
         Kyrgyzstan

Inquiries can be addressed to (+996 3722) 5-11-58, 5-12-10.


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


JUBILEE CDO II:  Fitch Rates EUR6.55 Million Class D notes at BB
----------------------------------------------------------------
Fitch Ratings has affirmed Jubilee CDO II B.V's notes following
a satisfactory performance review:

   -- EUR300.5 million Class A-1 notes (ISIN: XS0150181278):
      affirmed at 'AAA'

   -- EUR3 million Class A-2 notes (ISIN: XS0150183647):
      affirmed at 'AAA'

   -- EUR36 million Class AX notes (ISIN: XS0150194768):
      affirmed at 'AAA'

   -- EUR45.8 million Class B-1 notes (ISIN: XS0150204740):
      affirmed at 'A'

   -- EUR7.5 million Class B-2 notes (ISIN: XS0150210127):
      affirmed at 'A'

   -- EUR15 million Class C-1 notes (ISIN: XS0150212503):
      affirmed at 'BBB'

   -- EUR5 million Class C-2 notes (ISIN: XS0150215860):
      affirmed at 'BBB'

   -- EUR11.25 million Class C-3 notes (ISIN: XS0150224003):
      affirmed at 'BBB'

   -- EUR6.55 million Class D notes (ISIN: XS0150227790):
      affirmed at 'BB'

   -- EUR3 million Class P combination notes (ISIN:
      XS0150236437): affirmed at 'AAA'

   -- EUR5 million Class Q combination notes (ISIN:
      XS0150237328): affirmed at 'BBB'

   -- EUR7.1 million Class R combination notes (ISIN:
      XS0150238219): affirmed at 'A'

   -- EUR11.25 million Class S combination notes (ISIN:
      XS0150238649): affirmed at 'BBB'

The rating actions reflect the transaction's stable performance.
As of the November 2007 report, the transaction has passed all
portfolio and coverage test, except for the interest coverage
test for the Class C and D notes, which fail marginally.  The
tests are expected to be recovered by the July 2008 payment
date.  There have been no defaults to date.  The portfolio
currently contains two 'CCC' and below rated assets that
represent 0.8% of the current portfolio.  The subordination of
the capital structure as well as the excess spread generated by
the portfolio create sufficient credit enhancement to withstand
the current rating levels.  The reinvestment period has expired
on the latest payment date, 15 July 2007.

The transaction represents a cash-flow securitization of a
portfolio of European leveraged loans and is managed by Alcentra
Ltd. Jubilee II is a special purpose vehicle incorporated under
the laws of the Netherlands with limited liability.


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


GETIN BANK: Fitch Affirms BB IDR with Stable Outlook
----------------------------------------------------
Fitch Ratings has affirmed Poland-based Getin Bank's ratings at
Long-term IDR 'BB', Short-term IDR 'B', Individual 'D' and
Support '5'.  The Outlook is Stable.

At the same time, Fitch assigned GB a National Long-term rating
of 'BBB(pol)' with Stable Outlook.  The Support Rating Floor is
affirmed at 'No Floor'.  GB's outstanding EUR500 million and
US$100 million eurobonds are affirmed at Long-term 'BB'.

The Long-term, Short-term IDRs and Individual rating reflect the
bank's short track record, the operational risk associated with
its rapid growth and acquisitions, its moderate liquidity and
only adequate capitalization.  They also reflect its success in
building a profitable franchise, high cost-efficiency and a
conservative market risk appetite.

GB continued its rapid expansion with loan portfolio growth of
31% in first half of 2007, following the 80% growth recorded in
2006.  The growth was funded with eurobond issuance and active
acquisition of domestic deposits.  The tightening of liquidity
in both international and domestic markets may result in slower
asset growth over the short- and medium-term.

GB was the 13th-largest bank in Poland, with 176 branches and a
1.9% share in sector assets at end of first half of 2007.  The
bank is focused on mortgage lending, consumer finance and
bancassurance.  At end of first half of 2007 the loan portfolio
was 50% mortgages, 22% auto loans, 14% consumer loans and 14%
business loans.  GB is part of Getin Holding, an integrated
financial group quoted on the Warsaw Stock Exchange.


MPK LODZ: S&P Rates PLN166 Billion Revenue Bond at BB+
------------------------------------------------------
Standard & Poor's Ratings Services assigned a 'BB+' initial
rating to Polish public transport provider, MPK Lodz.  At the
same time, Standard & Poor's also assigned a 'BB+' rating to MPK
Lodz's PLN166 million revenue bond.

MPK Lodz is the first local government-related entity to be
rated by Standard & Poor's in Republic of Poland (local currency
A/Stable /A-1; foreign currency A-/Stable/A-2).  S&P already
rate two Polish local and regional governments: the cities of
Lodz and Krakow.

The rating on MPK Lodz is supported by the city of Lodz's 100%
ownership and tight supervision and the company's contractual
relationship with the city, which established a long-term
framework for the provision of essential public transport
services.  Under this contract, the company receives a stable
80% of its income from the municipal budget.  The rating also
takes into account the city's recent commitment to entrust MPK
with the construction and operation of a new, prestigious tram
line until 2032 and to dedicate substantial additional revenues
to the company.

The company has repeatedly improved its financial position by
implementing a drastic restructuring plan and by showing some
success in developing ancillary activities.  The rating is
nevertheless constrained by the company's default in 2003-2004,
during which the city did not provide any support.  It is also
constrained by the extensive investment plans that the company
has recently embarked on, that will translate into further debt
accumulation.

"We expect that current financial and legal links with the city
will remain unquestioned," said Standard & Poor's credit analyst
Marcin Gdula.  "More specifically, we expect that MPK Lodz's
main service contract with the city will be renewed and will
continue to secure future flows of revenues for the company, and
that the company's shareholding structure and statutory
framework will remain unchanged."

Mr. Gdula noted: "The rating may come under pressure should
these conditions change, or should the company substantially
exceeds its medium-term debt forecasts.  The rating would be
positively affected should a clearer and more supportive
framework between the city and the company be put in place,
especially in the context of the management contract renewal."


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


KUBOVSKY LOGGING: Creditors Must File Claims by Jan. 15
-------------------------------------------------------
Creditors of Kubovsky Logging Enterprise LLC have until Jan. 15
to submit proofs of claim to:

         I. A. Golubtsova
         Competitive Proceedings Manager
         Gagarina Str. 14-5
         Pudozh
         186150 Karelia
         Russia

The Arbitration Court of Karelia commenced competitive
proceedings against Kubovsky Logging Enterprise LLC after
finding it insolvent on Sept. 3, 2007.  The case is docketed
under Case No. A26-3993/2007.

The Debtor can be reached at:

         Kubovsky Logging Enterprise LLC
         Lenina Str. 70
         186150 Pudozh
         Russia


MEDICAL POLYMERIC: Asset Sale Slated for Jan. 16
------------------------------------------------
Status LLC, acting on behalf of the competitive proceedings
manager, will open a public auction for the company's properties
of Medical Polymeric Product Pilot Plant of the Ministry of
Health (State Unitary Enterprise) at 9:00 a.m. on Jan. 16 at:

         Status LLC
         Room N 55
         Press-Shop
         Communisticheskaya Str. 10
         Pavlovo
         Nizhny Novgorod
         Russia

The company has set a RUR68 million starting price for the
assets on auction.

Interested participants have until Jan. 11 to deposit an amount
of RUR3 million.

Bidding documents must be submitted to:

         Status LLC
         Room N 55
         Press-Shop
         Communisticheskaya Str. 10
         Pavlovo
         Nizhny Novgorod
         Russia
         Tel: (831) 4157018

The Debtor can be reached at:

         Medical Polymeric Product Pilot Plant of the Ministry
         of Health (State Unitary Enterprise)
         Orbeli Str. 1
         603142 Nizhny Novgorod
         Russia


OBOYANSKAYA FURNITURE: Creditors Must File Claims by Jan. 15
------------------------------------------------------------
Creditors of Oboyanskaya Furniture Factory Regional State
Unitary Enterprise have until Jan. 15 to submit proofs of claim
to:

         M. S. Sevryukov
         Interim Manager
         Seregina Str. 20
         305018 Kursk
         Russia

The Arbitration Court of Kursk will convene on Feb. 6 to hear
the company's bankruptcy supervision procedure after finding it
insolvent on Sept. 27, 2007.  The case is docketed under Case
No. A35-4359/07 G.

The Court is located at:

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

The Debtor can be reached at:

         Oboyanskaya Furniture Factory Regional State Unitary
         Enterprise
         Komsomol'skaya Str. 13
         Oboyan'
         306230 Kursk
         Russia


ORSHANSKY FLAX-TREATING: Creditors Must File Claims by Feb. 15
--------------------------------------------------------------
Creditors of Orshansky Flax-Treating Plant LLC have until
Feb. 15 to submit proofs of claim to:

         V. A. Samsonov
         Competitive Proceedings Manager
         Internationalnaya Str. 96
         603002 Nizhny Novgorod
         Russia

The Arbitration Court of Marij-El commenced one-year competitive
proceedings against the company after finding it insolvent on
Nov. 22, 2007.  The case is docketed under Case No. 38-2214/
2007-9-57.

The Debtor can be reached at:

         Orshansky Flax-Treating Plant LLC
         Zavodskaya Str. 1
         Orshanka Settlement
         Marij-El
         Russia


PEARL OJSC: Asset Sale Slated for Jan. 15
-----------------------------------------
The competitive proceedings manager of OJSC Plant Pearl will
open an on-line public auction for the company's properties at
1:00 p.m. on Jan. 15.

The company has set a RUR16 million starting price for the
assets on auction.

Interested participants have until Jan. 14 to deposit an amount
equivalent to 10% of the starting price.

Bidders must register at http://www.fabrikant.ru/and submit
their bidding documents at the mentioned Web site.

The Debtor can be reached at:

         OJSC Plant Pearl
         Vostochnaya Str. 1
         Voznesenskoye Settlement
         Nizhny Novgorod
         Russia


TIMBER YARD 10: Creditors Must File Claims by Jan. 15
-----------------------------------------------------
Creditors of Timber Yard 10 LLC have until Jan. 15 to submit
proofs of claim to:

         L. F. Chepurnaya
         Interim Manager
         Popova Str. 26-51
         163061 Arkhangelsk
         Russia

The Arbitration Court of Arkhangelsk commenced bankruptcy
supervision procedure against the company after finding it
insolvent on Nov. 20, 2007.  The case is docketed under Case No.
A05-10500/2007.

The Court is located at:

         The Arbitration Court of Arkhangelsk
         Loginova Str. 17
         163069 Arkhangelsk
         Russia

The Debtor can be reached at:

         Timber Yard 10 LLC
         KLDK Str. 86
         Arkhangelsk
         Russia


TUKAI AGRICULTURAL: Asset Sale Slated for Jan. 15
-------------------------------------------------
The competitive proceedings manager of Tukai Agricultural &
Production Cooperative will open a on-line auction for the
company's properties at 9:00 a.m. on Jan. 15.

The company has set a RUR24,443,877 starting price for the
assets on auction.  Deposit required is 10% of the starting
price.

Interested participants have to register at
http://www.fabrikant.ru/

The Debtor can be reached at:

         Tukai Agricultural & Production Cooperative
         Karkaus Settlement
         Kukmorsky region
         Tatarstan
         Russia


UNTSIA OJSC: Asset Sale Slated for Jan. 16
------------------------------------------
The competitive proceedings manager of PO Farmatsia Municipal
Unitary Enterprise will open a public auction of the block of
stock of OJSC Untsia at 10:00 a.m. on Jan. 16 at:

         PO Farmatsia Municipal Unitary Enterprise
         The Red Corner of the Third Process Department
         1st Pyatiletka Ploschad'
         Ekaterinburg
         Russia

The company has set a RUR2,067,000 starting price for the assets
on auction.

Interested participants have until Jan. 11 to deposit an amount
of RUR100,000.

Bidding documents must be submitted to:

         PO Farmatsia Municipal Unitary Enterprise
         The Red Corner of the Third Process Department
         1st Pyatiletka Ploschad'
         Ekaterinburg
         Russia

Information related to the auction can be obtained by calling,
Tel:(343) 327-47-53.


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


ALL-RENT LLC: Berne Court Closes Bankruptcy Proceedings
-------------------------------------------------------
The Bankruptcy Service of Berner Jura-Seeland in Berne entered
Nov. 26, 2007, an order closing the bankruptcy proceedings of
LLC All-Rent.

The Bankruptcy Service of Berner Jura-Seeland can be reached at:

         Bankruptcy Service of Berner Jura-Seeland
         Dienststelle Seeland
         2501 Biel/Bienne BE
         Switzerland

The Debtor can be reached at:

         LLC All-Rent
         Dorfstrasse 3
         2076 Gals
         Erlach BE
         Switzerland


ARMIFREI ARMIERUNGEN: Basel Court Closes Bankruptcy Proceedings
---------------------------------------------------------------
The Bankruptcy Service of Basel-Stadt entered Nov. 22, 2007, an
order closing the bankruptcy proceedings of LLC ARMIFREI
Armierungen.

The Bankruptcy Service of Basel-Stadt can be reached at:

         Bankruptcy Service of Basel-Stadt
         4051 Basel
         Switzerland

The Debtor can be reached at:

         LLC ARMIFREI Armierungen
         Markgraflerstrasse 71
         4057 Basel
         Switzerland


GLOBAL POS: Zug Court Starts Bankruptcy Proceedings
---------------------------------------------------
The Bankruptcy Service of Zug commenced bankruptcy proceedings
against JSC Global Pos on Nov. 23, 2007.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC Global Pos
         6300 Zug
         Switzerland


KIZ KINDERZENTRUM: Creditors' Liquidation Claims Due by Jan. 14
---------------------------------------------------------------
Creditors of LLC KIZ Kinderzentrum Schweiz have until Jan. 14 to
submit their claims to:

         R. Murner and G. Hammer
         Im Sesselacker 26
         4059 Basel
         Switzerland

The Debtor can be reached at:

         LLC KIZ Kinderzentrum Schweiz
         Basel
         Switzerland


LMP-SERVICE LLC: Creditors' Liquidation Claims Due by January 14
----------------------------------------------------------------
Creditors of LLC LMP-Service have until Jan. 14 to submit their
claims to:

         Angela Fedrizzi
         Liquidator
         Zugerstrasse 3
         8810 Horgen ZH
         Switzerland

The Debtor can be reached at:

         LLC LMP-Service
         Horgen ZH
         Switzerland


MIFRA JSC: Creditors' Liquidation Claims Due by January 16
----------------------------------------------------------
Creditors of JSC Mifra have until Jan. 16 to submit their claims
to:

         JSC Herzog Treuhand
         Liquidator
         Baumliackerstr. 36
         4332 Stein AG
         Switzerland

The Debtor can be reached at:

         JSC Mifra
         Leuk VS
         Switzerland


OPTIMAL INTERFOOD: Zurich Court Starts Bankruptcy Proceedings
-------------------------------------------------------------
The Bankruptcy Service of Hongg-Zurich commenced bankruptcy
proceedings against LLC Optimal Interfood on Nov. 23,2007.

The Bankruptcy Service of Hongg-Zurich can be reached at:

         Bankruptcy Service of Hongg-Zurich
         8049 Zurich
         Switzerland

The Debtor can be reached at:

         LLC Optimal Interfood
         Zurcherstr. 70
         8104 Weiningen
         Dietikon ZH
         Switzerland


SCHIBLI IMPORT: Creditors' Liquidation Claims Due by January 15
---------------------------------------------------------------
Creditors of LLC Schibli Import have until Jan. 15 to submit
their claims to:

         LLC Schibli Import
         Hegglistrasse 13
         6373 Ennetburgen NW
         Switzerland


SERPOS JSC: Lucerne Court Closes Bankruptcy Proceedings
-------------------------------------------------------
The Bankruptcy Service of Willisau in Lucerne entered Nov. 30,
2007, an order closing the bankruptcy proceedings of JSC Serpos.

The Bankruptcy Service of Willisau can be reached at:

         Bankruptcy Service of Willisau
         6130 Willisau LU
         Switzerland

The Debtor can be reached at:

         JSC Serpos
         Kreuzmatte 1c
         6262 Langnau b. Reiden LU
         Switzerland


SISA GASTRO: Lucerne Court Closes Bankruptcy Proceedings
-------------------------------------------------------
The Bankruptcy Service of Willisau in Lucerne entered Nov. 30,
2007, an order closing the bankruptcy proceedings of LLC Sisa
Gastro.

The Bankruptcy Service of Willisau can be reached at:

         Bankruptcy Service of Willisau
         6130 Willisau LU
         Switzerland

The Debtor can be reached at:

         LLC Sisa Gastro
         Hochhusmatt 9
         6130 Willisau LU
         Switzerland


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



CAPITAL NORTH: Creditors Must File Claims by January 9
------------------------------------------------------
The Economic Court of Vinnica commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 10/234-07.

Creditors of LLC Euro-Capital Subsidiary Company Capital North
(code EDRPOU 34213503) have until Jan. 9 to submit written
proofs of claim to:

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

The Debtor can be reached at:

         LLC Euro-Capital Subsidiary Company Capital North
         Yunost Avenue 18
         21021 Vinnica
         Ukraine



DELIVERY OJSCAL: Creditors Must File Claims by January 9
--------------------------------------------------------
Creditors of OJSCAL Delivery (code EDRPOU 00907763) have until
Jan. 9 to submit written proofs of claims to:

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

The Economic Court of Kharkov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. B-31/169-07.

The Debtor can be reached at:

         OJSCAL Delivery
         Podlesnaya Str. 7
         Borovaya
         63801 Kharkov
         Ukraine


EDELWEISS LLC: Creditors Must File Claims by January 9
------------------------------------------------------
Creditors of LLC Firm Edelweiss (code EDRPOU 31003627) have
until Jan. 9 to submit written proofs of claims to:

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

The Economic Court of Kharkov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. B-50/178-07.

The Debtor can be reached at:

         LLC Firm Edelweiss
         Zavodskaya Str. 4
         Izium
         64300 Kharkov
         Ukraine


GASOLINE STAND: Creditors Must File Claims by January 9
-------------------------------------------------------
The Economic Court of Poltava commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 4/165.

Creditors of LLC Petroleum Industry - Gasoline Stand (code
EDRPOU 33588903) have until Jan. 9 to submit written proofs of
claim to:

         The Economic Court of Poltava
         Zigin Str. 1
         36000 Poltava
         Ukraine

The Debtor can be reached at:

         LLC Petroleum Industry- Gasoline Stand
         Heroes of Brest Lane 44-a
         Kremenchuk
         39600 Poltava
         Ukraine


NADRA BANK: Fitch Affirms IDR at B- with Positive Outlook
---------------------------------------------------------
Fitch Ratings has affirmed the ratings of Ukraine-based Nadra
Bank at Long-term Issuer Default 'B-', Short-term IDR 'B',
Individual 'D/E', Support '5' and Support Rating Floor 'B-'.  At
the same time, Fitch has changed the Outlook for the Long-term
IDR to Positive from Stable.

The change in Outlook reflects the progress the bank is making
in expanding its retail franchise and the potential for
improvements in core earnings as economies of scale improve.
However, the ratings also reflect high risks associated with
ongoing rapid asset growth, potentially vulnerable liquidity and
moderate loan impairment coverage combined with currently weak
capitalization.

Nadra's assets have grown quickly, by 1.7x in 2006 and 1.4x in
first half of 2007, mainly on the back of retail lending.
Although past-due loans were at manageable levels at end of
first half of 2007, the portfolio is largely unseasoned, while
the equity cushion is currently limited to absorb any rise in
unexpected future losses.  At end of first half of 2007, Nadra's
reported Basel I Tier 1 and total capital adequacy ratios were
12.4% and 13.2%, respectively.  However a large 46% of tier 1
capital was consumed by investments in funds holding a loan
origination company with which the bank works closely and other
financial and non-financial assets.

A substantial part of those investments represented revaluations
of the stakes held, rather than the equity of the underlying
entities, thus undermining the quality of capital.  Fixed assets
are also considerable, meaning that the free capital ratio is
low, while rapid ongoing growth has continued in second half of
2007 and is forecast in 2008, without new equity injections from
the current majority shareholders.  An IPO or private placement
of shares is earmarked for 2008, although no concrete plans have
been confirmed to Fitch.

Upward pressure on the ratings could result from stronger
earnings performance and improved capitalization (which would
probably require an injection of new equity), coupled with
further successful business expansion and adequate asset
quality.  At the same time, failure to improve capitalization,
an increase in loan delinquencies or any signs of instability in
the bank's predominantly short-term funding base could prevent
an upgrade or cause the Outlook to revert back to Stable.

Nadra is the seventh largest Ukrainian bank by asset size, with
a strong presence in the retail segment and about 3.4% of system
assets at end of third quarter of 2007. At end of third quarter
of 2007 the bank had the sixth-largest nationwide network of
branches and outlets (nearly 650 units in various formats), the
fifth-largest network of ATMs (over 850) and the third-largest
network of plastic card acquiring terminals (over 6,000).  About
87% of Nadra's shares are ultimately held by four individuals
(including 31% held by Nadra's CEO Igor Gilenko).  Foreign
portfolio investors jointly own 8%, including East Capital
Fund's 7%.


PETROLEUM INDUSTRY: Creditors Must File Claims by January 9
-----------------------------------------------------------
Creditors of LLC Petroleum Industry (code EDRPOU 32738394) have
until Jan. 9 to submit written proofs of claim to:

         The Economic Court of Poltava
         Zigin Str. 1
         36000 Poltava
         Ukraine

The Economic Court of Poltava commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 4/164.

The Debtor can be reached at:

         LLC Petroleum Industry
         Lenin Str. 3-a
         Kremenchuk
         39600 Poltava
         Ukraine


PROPACK LLC: Creditors Must File Claims by January 9
----------------------------------------------------
Creditors of LLC Propack (code EDRPOU 25267974) have until
Jan. 9 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. 15/822-b.

The Debtor can be reached at:

         LLC PROPACK
         Pobeda Avenue 37/4
         03057 Kiev
         Ukraine


QUARRY CJSC: Creditors Must File Claims by January 9
----------------------------------------------------
Creditors of CJSC Quarry (code EDRPOU 31271117) have until
Jan. 9 to submit written proofs of claim to:

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

The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. B 26/376-07.

The Debtor can be reached at:

         CJSC Quarry
         Petrovsky Avenue 43
         49000 Dnipropetrovsk
         Ukraine


SERVICECOM LTD: Creditors Must File Claims by January 9
--------------------------------------------------------
Creditors of LLC Servicecom Ltd. (code EDRPOU 33343298) have
until Jan. 9 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. 15/823-b.

The Debtor can be reached at:

         LLC Servicecom Ltd.
         Pirogovsky Str. 19
         03110 Kiev
         Ukraine


SHEVCHENKO LLC: Creditors Must File Claims by January 9
-------------------------------------------------------
Creditors of Shevchenko LLC (code EDRPOU 03741926) have until
Jan. 9 to submit written proofs of claim to:

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

The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. B 26/169-07.

The Debtor can be reached at:

         Shevchenko LLC
         Tezikov Str. 5
         Zhovte
         Sofiyevsky District
         53171 Dnipropetrovsk
         Ukraine


SVITOCH LLC: Creditors Must File Claims by January 9
----------------------------------------------------
The Economic Court of Kharkov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. B-31/130-07.

Creditors of LLC Svitoch (code EDRPOU 30763086) have until
Jan. 9 to submit written proofs of claims to:

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

The Debtor can be reached at:

         LLC Svitoch
         Chistovodovka
         64300 Kharkov
         Ukraine


VERMYKULIT LLC: Creditors Must File Claims by January 9
-------------------------------------------------------
Creditors of LLC Vermykulit (code EDRPOU 21475546) have until
Jan. 9 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. 15/824-b.

The Debtor can be reached at:

         LLC Vermykulit
         Heroes of Sevastopol Str. 37-A
         03151 Kiev
         Ukraine


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


BAA LTD: Taps Balfour Beatty for Heathrow Midfield Pier Project
---------------------------------------------------------------
BAA Ltd. (fka BAA plc) has selected Balfour Beatty, the
international engineering, construction, services and investment
group, to deliver its Midfield Pier project at Heathrow Airport.

Pre-construction work, comprising design, value management and
construction program development, is already under way on a
project which will complement the new Heathrow East Terminal and
which will be built in three phases.  Scheme design was
completed at the end of last year, with construction work
commencing in the spring of 2008.  In the period 2008 to 2011,
Phases 1 and 2 will be undertaken, comprising the Northern and
Mid Sections.  These phases of the project, which will be worth
approximately GBP350 million, will include a cut and cover
tunnel which links Heathrow East with the Midfield Pier,
passenger transfer travellators and cut and cover tunnels for a
Track Transit System.

A Remote Passenger Transfer Stand may also form part of the
first two phases of the project, which are due for completion in
2012, and would be worth approximately a further GBP78 million.
In Phase 3, which would commence following the completion of the
preceding work, a further Southern Section is due to be built at
a value of approaching GBP100 million.

"Having achieved preferred supplier status for BAA's program of
complex building works in the coming period, we are delighted to
have secured the planned work on the Midfield Pier project at
Heathrow," Ian Tyler, chief executive of Balfour Beatty, said.
"Our performance in delivering the rail systems element of
Terminal 5 has been instrumental in the successful on-schedule
handover of Terminal 5 to BAA on Sept. 17."

Balfour Beatty has worked closely with BAA over many years on a
number of their key airport developments and, most recently, has
been involved in the design, management and delivery of some
GBP450 million of work at Heathrow Terminal 5.  The handovers of
the Piccadilly Line extension, the Heathrow Express extension,
the new Terminal 5 underground system and the inter-terminal
track transit system were all achieved on time.  This has
provided an excellent platform for the continuation of the
relationship into the next generation of BAA's infrastructure
investments.

                            About BAA

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

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

                             *   *   *

As reported in the TCR-Europe on Nov. 27, 2007, Standard &
Poor's Ratings Services has lowered its long-term corporate
credit rating on U.K.-based airports operator BAA Ltd. to 'BB-'
from 'BBB+', reflecting delays in refinancing, as well as
operating issues.


CHRYSLER LLC: Simon Boag Named Global Alliance Operations EVP
-------------------------------------------------------------
Chrysler LLC has named Simon Boag to the newly created position
of Executive Vice President -- Global Alliance Operations,
reporting to Vice Chairperson and President Tom LaSorda.  Mr.
Boag will lead the operations side of Chrysler's alliances which
are designed to expand opportunities for global growth.

"As outlined in the Company's Recovery and Transformation Plan,
growth in markets outside of North America is critical to the
success of Chrysler," said Mr. LaSorda.  "We are looking for new
alliances and growth opportunities all over the world."

Mr. Boag joined Chrysler in April 2005 as Vice President --
Assembly and Stamping Operations.  Following this assignment, he
spent a year and a half as the head of Production Planning for
Mercedes-Benz Passenger Cars, and most recently held the
position of Executive Vice President -- Procurement and Supply.
Mr. Boag also serves as the Co-Chairperson of ENVI, an
organization within Chrysler that is responsible for the
development of electric-drive vehicles and related advanced-
propulsion technologies.

In an additional announcement, the company appointed John P.
Campi to the post of Executive Vice President -- Procurement,
also reporting to Mr. LaSorda.

In this role, Mr. Campi will be responsible for all worldwide
purchasing and supplier quality activities.

"John is a recognized leader in field of sourcing and cost
management," said Mr. LaSorda.  "His addition to the already
strong Chrysler executive team further ensures that we have the
talent and experience to succeed in even the most challenging of
economic environments."

Mr. Campi has more than 35 years of experience in the sourcing
industry.  Before joining Chrysler, he was President of Genesis
Consulting Group, a company he founded.  Mr. Campi and Genesis
Consulting were hired as Chrysler consultants in October 2007.
Previously, Mr. Campi led the drive for standardization and
optimization of The Home Depot Global Supply Chain as its Senior
Vice President of Sourcing and Vendor Management.  Prior to
joining The Home Depot, Mr. Campi served as Vice President for
E.I. du Pont de Nemours & Co. and Chief Procurement Officer for
Global Sourcing and Logistics.

"Purchasing plays a critical role in cost management and
building high-quality vehicles for our customers, and affects
every facet of the company," said Mr. Campi.  "My goal is to
take a disciplined approach to purchasing and apply best
practices learned from both within and outside of the automotive
industry."

Mr. Campi is a graduate of Indiana University with a bachelor's
degree in Accounting.  He also earned his master's degree from
the Executive Program of the Weatherhead School of Management,
Case Western Reserve University.

Chrysler's Supply Operations -- which include Logistics,
Packaging, Materials Handling and Production Scheduling -- will
be realigned to report to Manufacturing under Joe L. Chao, Vice
President -- Advance Manufacturing Engineering and Supply.  Mr.
Chao reports to Frank Ewasyshyn, Executive Vice President --
Manufacturing.

                      About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- a unit of Cerberus Capital
Management LP, produces Chrysler, Jeep(R), Dodge and Mopar(R)
brand vehicles and products.  The company has dealers worldwide,
including Canada, Mexico, U.S., Germany, France, U.K.,
Argentina, Brazil, Venezuela, China, Japan and Australia.

                       *     *     *

As reported in the Troubled Company Reporter-Latin America on
Dec. 11, 2007, Standard & Poor's Ratings Services revised it
recovery rating on Chrysler's US$2 billion senior secured
second-lien term loan due 2014.  The issue-level rating on this
debt remains unchanged at 'B', and the recovery rating was
revised to '3', indicating an expectation for meaningful (50% to
70%) recovery in the event of a payment default, from '4'.


DA VINCI: Fitch Rates EUR15.6 Million Class C Notes at BB+
----------------------------------------------------------
Fitch Ratings has affirmed the tranches of the Da Vinci
Synthetic plc transaction:

   -- EUR25.9 million Class A floating-rate notes at 'A' with
      Stable Outlook

   -- EUR20.8 million Class B floating-rate notes at 'BBB' with
      Stable Outlook

   -- EUR15.6 million Class C floating-rate notes at 'BB+' with
      Stable Outlook.

This transaction is a synthetic securitization of a portfolio of
financial leases and loans secured on aircraft and associated
aircraft collateral.  Merrill Lynch International Bank entered
into a credit default swap with Intesa Sanpaolo ("the
originator") under which it sells protection on a reference
portfolio of up to US$650 million.

All financial lease or loan obligations ("the reference
portfolio") relate to the financing or refinancing of aircraft.
At closing, MLI bought protection on the reference portfolio
from the senior CDS counterparty and from the issuer, tranching
the risk of the portfolio in the first loss piece with a
notional amount of US$26 million, a mezzanine tranche with a
notional amount of EUR62.3 million and a senior tranche with a
notional amount of US$545.8 million.  The aggregate portfolio
notional amount, following replenishment and substitution,
totals US$565.2 million.

The rating actions, which follow a satisfactory review and the
transactions' performance to date, are based on the quality of
the reference portfolio, available credit enhancement, and the
absence of both credit event and cash settlements.  In addition,
the proceeds of the Class A, B and C notes are collateralized by
sufficient cash deposits placed with IntesaSP (rated 'AA-/F1+')
to support the highest ratings on the notes.  Furthermore,
interest payments on the notes have been in line with the
conditions of payment set out in the transaction documents.


DURA AUTOMOTIVE: Court Defers DIP Financing Maturity to Jan. 31
---------------------------------------------------------------
At the request of DURA Automotive Systems, Inc., and its debtor-
affiliates, the U.S. Bankruptcy Court for the District of
Delaware extended the maturity date of the Debtors' postpetition
secured revolving and term loan financing facilities until
Jan. 31, 2008.

The Debtors told the Court that without extensions of the
maturity dates, previously set Dec. 31, 2007, the Debtors
obligations under the revolving and term-loan facilities become
immediately due and payable, and the DIP Lenders would be
entitled to exercise all remedies available to them.  Absent the
extension, the Debtors would face, among other things,
insufficient working capital to fund ongoing operations.

Beginning in September 2007, the Debtors initiated discussions
with, and solicited exit financing proposals from, a variety of
potential exit lenders.  The Debtors have selected Goldman Sachs
Credit Partners L.P. and Barclays Capital to act as arrangers to
syndicate the exit financing, but as of mid-December 2007, the
arrangers have been unable to secure a full syndication of
DURA's proposed US$425 million exit financing, due to tighter
credit conditions.

Marc Kieselstein, P.C., Esq., at Kirkland & Ellis, LLP, in
Chicago, Illinois, recounted that, in December 2007, the Debtors
and their advisors also contacted several potential third-party
lenders, and solicited debtor-in-financing proposals that would
replace the existing DIP Facilities in one form or another.
Though some parties showed interest in providing proposals, none
expressed confidence they could close the transaction within the
time-frame required by the Debtors, said Mr. Kieselstein said.

According to Mr. Kieselstein, the Debtors along with their
advisors determined that six months would be an appropriate
length of for the maturity date extensions of each of the DIP
Facilities, but that, to meet the Debtors' operational financing
needs between February and June 2008, the extensions would
require an increase in the size of the term loan amount under
the DIP Facilities.  For January 2008, however, no term loan
increase is necessary to meet the debtors' operational financing
needs.  Accordingly, obtaining maturity date extensions of month
for each of the DIP facilities was the only feasible extensions
available to the Debtors, Mr. Kieselstein told the Court.

Given the short period of time allowed by the one-month
extensions, the Debtors are presently, however, attempting to
negotiate, among other things, follow-on five or six month
maturity date extensions of the each of the DIP facilities and
the term loan increase.  The Debtors will present any request
for further amendments to the DIP Facilities at the Jan. 24,
2008 omnibus hearing.

                   Amendments to DIP Facilities

The significant amendments to the Term Loan Facility are:

   Maturity Date:   January 31, 2008

   Fees:            Status Report filed under seal.

   Canada
   Restructuring:   Transaction authorized subject to pledge of
                    new entity stock in favor of Postpetition
                    Secured Parties, including necessary
                    covenant waivers and authority for
                    Postpetition Agents to release guaranties
                    and liens as necessary.

   Interest:        For Base Rate Loans, Base Rate plus 2.25%
                    per annum.  For LIBOR Loans, at the LIBOR
                    Rate plus 3.25% per annum.  All loans deemed
                    Base Rate Loans after December 31, 2007.

   Immediate
   Default
   Interest:        Default Interest to accrue starting Dec. 31,
                    2007, provided that if the Event of Default
                    occurs after December 31, there will be no
                    additional increase in the interest rate
                    from that provided in the Term Loan DIP
                    Credit Agreement.

   Financial
   Advisor
   Engagement:     Counsel to the Goldman Sachs Credit Partners,
                   L.P., as administrative agent to engage a
                   financial advisor

   Cash Flow
   Forecasts:      Debtors to provide rolling cash flow
                   forecasts for the following 13-week period
                   each week.

   Capital
   Expenditures:   Maximum Consolidated Capital Expenditures for
                   January 2008 to be less than or equal to
                   US$9 million.

Amendments of the Revolving DIP Facility are:

   Maturity Date:   January 31, 2008

   Fees:            Status Report filed under seal.

   Canada
   Restructuring:   Transaction authorized subject to pledge of
                    new entity stock in favor of Postpetition
                    Secured Parties, including necessary
                    covenant waivers and authority for
                    Postpetition Agents to release guaranties
                    and liens as necessary.

   Minimum EBITDA
   Covenant:        None for January 2008.

   Immediate
   Default
   Interest:        None.  Default interest to accrue, only when
                    applicable, pursuant to the Postpetition
                    Revolving Credit Agreement.

   New Commitment
   Letter:          On or before January 15, 2008, the Debtors
                    will have procured a commitment from
                    financial institutions reasonably accepted
                    to the Lenders for a new term loan DIP
                    credit facility.

   New Financial
   Covenant:        During the term of the Maturity Date
                    extension, the Borrowers will have to comply
                    with minimum Excess Availability covenant.

   Eligible
   Receivables:     Revised to include "25% in respect of Ford
                    Motor Company including any of its
                    affiliates and subsidiaries, or an Account
                    Debtor whose securities are rated Investment
                    Grade."

   Base Rate Loans: All loans to be deemed Base Rate Loans.

   Use of Funds:    Proceeds of any Credit Extension may not be
                    used to refinance, repay, cash
                    collateralize, back to back, replace, or
                    otherwise support all or any part of the
                    synthetic letters of credit under the Term
                    Loan DIP Agreement or pay any principal
                    amounts due under that agreement other than
                    the amounts mutually agreed.

   Financial
   Advisor
   Engagement:     Counsel to the Administrative Agent to engage
                   a financial advisor.

   Cash Flow
   Forecasts and
   Borrowing Base
   Certificates:   Debtors to provide rolling cash flow forecast
                   for the following 13-week period and
                   Borrowing Base Certificate each week.

Mr. Kieselstein told the Court that the Debtors, in order to
obtain the Maturity Date extensions and effect the Canada
Restructuring, were required to offer "sufficient" consideration
to obtain unanimous lender consent under the DIP Facilities.
The Debtors, however, redacted the Amendment Fees from the
Amended Credit Agreements filed with the Court.

The Court ruled that all prepetition second priority liens and
replacement liens granted to prepetition second priority lenders
in the Final DIP Order on any assets being released by the
Postpetition Secured Parties in connection with the Canada
Restructuring will be released to the same extent as any liens
on the "Covered Assets" in favor of the Postpetition Secured
Parties are released.

All guarantees in favor of the Prepetition Second Priority
Lenders from any person that has also issued a guaranty in favor
of the Postpetition Secured Parties, which is being terminated
in connection with the Canada Restructuring, will be terminated
to the same extent as the guarantees by the Covered Guarantors
in favor of the Postpetition Secured Parties are terminated.

To the extent that (a) any Covered Assets are not property of a
Debtor or (b) any Covered Guarantor is not a Debtor, the
Prepetition Second Priority Agent will use all efforts to
release their liens on the Covered Assets and terminate the
guaranties in their favor from the Covered Guarantors.

The liens of the Postpetition Secured Parties granted in the
Final DIP Order, the Prepetition Second Priority Liens and the
replacement liens granted to the Prepetition Second Priority
Lenders in the Final DIP Order will each attach to 66% of the
capital stock of the newly formed German partnership to the same
extent and with the same priority as provided for in the Final
DIP Order.  All of those liens will be deemed perfected, valid,
binding, and enforceable by the Postpetition Secured Parties and
the Prepetition Second Priority Lenders and subject to the
priorities provided for in the Final DIP Order without the need
for any other filing or action, provided that the liens of the
Prepetition Second Priority Lenders will be junior in all
respects to the liens of the Postpetition Secured Parties.

The transfers contemplated in the Canada Restructuring will not
increase the value of assets subject to the liens or claims held
by the Prepetition Second Lien Lenders.

The Court also authorized the Debtors to pay the DIP Lenders
US$358,000 to overlook loan covenant violations as a result of
the Debtors' entry into Court-approved agreements with Johnson
Controls Systems, Inc., its affiliates and subsidiaries, and
Bridgewater Interiors LLC.

                     Investor Dies in Plane Crash

In other news, Michael Kline, the chief executive officer of
Pacificor LLC, died in a plane crash on Dec. 23, 2007.
Pacificor has previously agreed to invest up to US$160 million
in reorganized DURA by buying shares of new common stock that
were not purchased in an equity rights offering.  The Pacificor
commitment depended on the bankruptcy exit loans that the
Debtors were unable to obtain and will expire on January 31.

                           About DURA

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

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

The Debtors filed for chapter 11 petition on Oct. 30, 2006
(Bankr. D. Del. Case No. 06-11202).  Richard M. Cieri, Esq.,
Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan
Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel
for the Debtors' bankruptcy proceedings.  Mark D. Collins, Esq.,
Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors' co-
counsel.  Baker & McKenzie acts as the Debtors' special counsel.

Togut, Segal & Segal LLP is the Debtors' conflicts counsel.
Miller Buckfire & Co., LLC is the Debtors' investment banker.
Glass & Associates Inc., gives financial advice to the Debtor.
Kurtzman Carson Consultants LLC handles the notice, claims and
balloting for the Debtors and Brunswick Group LLC acts as their
Corporate Communications Consultants for the Debtors.  As of
July 2, 2006, the Debtor had US$1,993,178,000 in total assets
and US$1,730,758,000 in total liabilities.   (Dura Automotive
Bankruptcy News, Issue No. 41 Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


DURA AUTOMOTIVE: Restructuring of Canadian Subsidiaries Approved
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware also
authorized Dura Automotive Systems Inc. and its debtor-
affiliates to implement corporate restructuring of certain of
their subsidiaries located in Canada to obtain certain tax
savings.

Mr. Kieselstein told the Honorable Kevin J. Carey that, in order
to realize the tax savings, the Debtors must begin the Canada
Restructuring prior to Dec. 31, 2007.  In order to do so, the
Debtors required certain waivers under the DIP Facilities.

Specifically, the Canada Restructuring involves:

   (1) Transfer of Debtor Dura Automotive Canada ULC's (i) stock
       in Debtor Universal Tool & Stamping and Dura Automotive
       Cables and (ii) US$26 million notes receivables from
       Trident to Debtor Dura Operating Corp. as a return of
       capital;

   (2) Migration and re-incorporation of Debtor Dura Ontario,
       Inc., as an Unlimited Liability Company in British
       Columbia;

   (3) Formation of New German Holding Company (NewCo KG);

   (4) Removal of pledges on Canadian shares, assets and the
       US$84 million DOC-ULC note, and 65% of Dura Holding
       Germany shares and replacing them with pledge of 65% of
       NewCo KG shares;

   (5) Contribution of Dura Operating of its shares in DOC-ULC
       and the US$84 million Note to NewCo KG; and

   (6) Transfer of Dura Operating's 90% shares in DGH and its
       99.9% interest in Debtor Dura Operating Canada LP to
       NewCo KG.

Mr. Kieselstein says the DIP Amendments do not require specific
approval by the Ontario Superior Court of Justice.  RSM Richter
Inc., which provides the Ontario Court with updates on material
activities in the Debtors' Chapter 11 cases, supports the Canada
Restructuring.

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

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

The Debtors filed for chapter 11 petition on Oct. 30, 2006
(Bankr. D. Del. Case No. 06-11202).  Richard M. Cieri, Esq.,
Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan
Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel
for the Debtors' bankruptcy proceedings.  Mark D. Collins, Esq.,
Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors' co-
counsel.  Baker & McKenzie acts as the Debtors' special counsel.

Togut, Segal & Segal LLP is the Debtors' conflicts counsel.
Miller Buckfire & Co., LLC is the Debtors' investment banker.
Glass & Associates Inc., gives financial advice to the Debtor.
Kurtzman Carson Consultants LLC handles the notice, claims and
balloting for the Debtors and Brunswick Group LLC acts as their
Corporate Communications Consultants for the Debtors.  As of
July 2, 2006, the Debtor had US$1,993,178,000 in total assets
and US$1,730,758,000 in total liabilities.   (Dura Automotive
Bankruptcy News, Issue No. 42; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


ELECTAC LTD: Claims Filing Period Ends February 1
-------------------------------------------------
Creditors of Electac Ltd. have until Feb. 1 to send in their
full names, their addresses and descriptions, full particulars
of their debts and claims, and names and addresses of their
solicitors (if any) to:

         Nigel Ian Fox
         Joint Liquidator
         Tenon Recovery
         Highfield Court
         Tollgate
         Chandlers Ford
         Eastleigh
         Hampshire
         SO53 3TZ
         England

Nigel Ian Fox and Stanley Donald Burkett-Coltman of Tenon
Recovery were appointed joint liquidators of the company on
Dec. 20, 2007, by resolutions of members and creditors.


FEDERAL-MOGUL: S&P Puts BB- Rating on US$2.96 Bln Senior Loan
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' corporate
credit rating to Southfield, Michigan-based Federal-Mogul Corp.
following the company's emergence from Chapter 11 on Dec. 27,
2007.  The outlook is stable.

Standard & Poor's also assigned Federal-Mogul's US$540 million
asset-based revolving credit facility due 2013 a 'BB+' rating
(two notches higher than the corporate credit rating) with a
recovery rating of '1', indicating an expectation for very high
(90%-100%) recovery in the event of a payment default.

Standard & Poor's assigned Federal-Mogul's US$2.96 billion
senior secured term loan a 'BB-' bank loan rating (the same
level as the corporate credit rating) with a recovery rating of
'4', indicating an expectation for average (30%-50%) recovery.
The term loan consists of a US$1 billion eight-year facility and
a US$1.96 billion seven-year facility.  Of the total term loan,
US$878 million was drawn at closing and the balance was drawn on
Jan. 3, 2008.

"The corporate credit rating reflects Federal-Mogul's weak
business profile and high leverage, but also its adequate
liquidity," said Standard & Poor's credit analyst Nancy Messer.

These ratings are consistent with our report published Nov. 28,
2007, in which S&P detailed the ratings it expected to assign to
Federal-Mogul upon emergence.  Federal-Mogul has about
US$3.1 billion of total balance-sheet debt outstanding following
emergence from bankruptcy, with the senior secured term loan
fully drawn and applied toward refinancing other debt incurred
as part of the plan of reorganization.

Downside ratings risk is mitigated by S&P's expectation of
continued modest sales and EBITDA expansion and of positive free
cash flow that could allow for reduced leverage in the near
term.  Also limiting downside risk is Standard & Poor's
expectation that the effect of restructuring activities will
produce improved EBITDA margin in 2008-2009.  Federal-Mogul's
diverse end-market, product portfolio, and customer base also
provide ratings support.

Federal-Mogul Corporation -- http://www.federal-mogul.com/--
(OTCBB: FDMLQ) is a global supplier, serving the world's
foremost original equipment manufacturers of automotive, light
commercial, heavy-duty, agricultural, marine, rail, off-road and
industrial vehicles, as well as the worldwide aftermarket.
Founded in Detroit in 1899, the company is headquartered in
Southfield, Michigan, and employs 45,000 people in 35 countries.
Aside from the U.S., Federal-Mogul also has operations in other
locations which includes, Mexico, Malaysia, Australia, Belgium,
China, India, Japan, Korea, Poland, Thailand, United Kingdom,
among others.


GAP INC: Names Simon Kneen as Creative Dir. for Banana Republic
---------------------------------------------------------------
Gap Inc. has appointed Simon Kneen as executive vice president
of design and creative director for Banana Republic, effective
January 9.

Simon Kneen is a fashion leader with more than 25 years of
experience in key design roles for apparel brands in the United
States and Europe.

In this role, Mr. Kneen will set the product direction for
Banana Republic apparel and accessories, well as set the overall
creative direction for the brand.

"Simon has a tremendous ability to creatively guide a brand,
experience delivering a consistent aesthetic across all
expressions of the brand, and a proven track record of fostering
strong creative teams," Jack Calhoun, president of Banana
Republic, said.  "After talking with dozens of fantastic
candidates, it's clear that Simon is a great fit for Banana
Republic."

For the past five years, Mr. Kneen served as creative design
director for the Retail Brand Alliance, where he led the
creative vision for such well-known brands as Brooks Brothers
and Adrienne Vittadini.  He was the first to design a fashion
collection for men's and women's at Brooks Brothers, and was
part of the leadership team that helped reposition the brand.
While at the Retail Brand Alliance, he was also responsible for
designing the collections under the Casual Corner label from
2003 until 2005, prior to the brand's sale.

From 2001 to 2003, Mr. Kneen was creative director for Maska,
the Italian fashion house known for its exclusive couture
collection and fashionable ready-to-wear line.  Prior to that,
he was head designer, Pret-a Porter, for Maison Balmain, based
in Paris.  Mr. Kneen also led his own design firm and produced
the Simon Kneen Collection, a line of suiting, separate,
knitwear and accessories sold through luxury apparel retailers
in Italy.

Mr. Kneen, 46, will report to Mr. Calhoun in this new role.

                      About Banana Republic

Banana Republic is a luxury brand, offering quality apparel and
accessories collections for men and women.  The brand offers
essentials and seasonal collections of accessories, shoes,
personal care products and intimate apparel.  From work to
casual occasions, Banana Republic offers covetable,
uncomplicated style.

                          About Gap Inc.

Headquartered in San Francisco, California, Gap Inc. (NYSE: GPS)
-- http://www.gapinc.com/-- is an international specialty
retailer offering clothing, accessories and personal care
products for men, women, children and babies under the Gap,
Banana Republic, Old Navy, Forth & Towne and Piperlime brand
names.  Gap Inc. operates more than 3,100 stores in the United
States, the United Kingdom, Canada, France, Ireland and Japan.
In addition, Gap Inc. is expanding its international presence
with franchise agreements for Gap and Banana Republic in
Southeast Asia and the Middle East.

                          *     *     *

Moody's Investor Service placed Gap Inc.'s corporate family,
senior unsecured debt and probability of default ratings at
'Ba1' in February 2007.  The ratings still hold to date with a
stable outlook.


HARKPORT LTD: Brings In Liquidators from Tenon Recovery
-------------------------------------------------------
David Antony Willis and Matthew Colin Bowker of Tenon Recovery
were appointed joint liquidators of Harkport Ltd. (t/a GP
Heating and Ventilation) on Dec. 21, 2007, for the creditors'
voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Tenon Recovery
         The Exchange
         Station Parade
         Harrogate
         HG1 1TS
         England


INTERNATIONAL POWER: Fitch Affirms IDR at BB with Stable Outlook
----------------------------------------------------------------
Fitch Ratings has affirmed International Power plc's Long-term
Issuer Default Rating at 'BB' with Stable Outlook.

IPR is a U.K. holding company for a portfolio of international
power assets.

The ratings reflect IPR's relatively conservative debt levels
and management's prudent approach to expansion of the business
and to financing.  Unlike several of its peers, IPR has not
aggressively pursued double leverage - the use of holding
company debt to fund the "equity" in subsidiaries, associates or
joint ventures which are, themselves, predominantly debt-funded.

The Stable Outlook reflects Fitch's expectation that management
will maintain its prudent acquisition and financing strategy.

Since the last credit review, IPR has enlarged its engagement in
renewable energy sources with its acquisition of Levanto,
Maestrale and Schkortleben wind farm portfolios.  Further
acquisitions included the oil-fired OCGT Indian Queens peaking
plant in Cornwall, England and the purchase of the 50% remaining
stake in a partnership with Energy Australia.  IPR also
strengthened its cooperation with Mitsui by creating a common
ownership platform for its UK assets in June 2007.

Debt finance at the subsidiaries is of non-recourse nature to
IPR and almost all of the group's assets are project-financed.
For groups financed in this manner, Fitch focuses on debt and
cash-flows at the holding company rather than for the
consolidated group, since the holding company has limited access
to the subsidiaries' assets other than the dividends and has no,
or limited, liability associated with the subsidiaries' debts.


MACO REFRIGERATION: Calls In Liquidators from Baker Tilly
---------------------------------------------------------
Alec Pillmoor and Nigel Millar of Baker Tilly Restructuring and
Recovery LLP were appointed joint liquidators of Maco
Refrigeration Ltd. on Dec. 20, 2007, for the creditors'
voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Baker Tilly Restructuring and Recovery LLP
         Wilberforce Court
         Alfred Gelder Street
         Hull
         HU1 1YH
         England


MIDCOM LTD: Taps Liquidators from Baker Tilly Restructuring
-----------------------------------------------------------
Guy Edward Brooke Mander and Lynn Robert Bailey of Baker Tilly
Restructuring and Recovery LLP were appointed joint liquidators
of Midcom (U.K.) Ltd. on Dec. 20, 2007, for the creditors'
voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Baker Tilly Restructuring and Recovery LLP
         St. Philips Point
         Temple Row
         Birmingham
         B2 5AF
         England


TATA MOTORS: Moody's May Lower Ba1 Rating After Review
------------------------------------------------------
Moody's Investors Service placed the Ba1 Corporate Family Rating
of Tata Motors Ltd on review for possible downgrade.

This rating action follows the announcement by Ford Motor
Company (B3/Stable) naming TML as the preferred buyer for Ford's
luxury Jaguar and Land Rover car brands after several months of
discussion.  TML will now be entering a period of more focused
and detailed negotiations with Ford and hopes to reach an
agreement in the forthcoming weeks.  Moody's believes TML has a
keen interest in the two brands.

"Should TML proceed with the transaction and acquire these two
businesses, it will face considerable execution and integration
challenges," says Elizabeth Allen, a Moody's Vice
President/Senior Analyst.

"Furthermore, while TML enjoys a strong position primarily in
the low to mid-end vehicle segments in India and in some
developing markets, the acquisition of the Jaguar and Land Rover
brands will expose the company to the luxury product category as
well as to broader geographies; these are areas in which TML
lacks experience.  Moody's therefore believes such a transaction
would materially increase the business risk profile of TML,"
says Allen.

On the other hand, Moody's acknowledges that in the long term
this potential acquisition could elevate TML from a major Indian
player into a global automobile manufacturer, enlarge its
operating scale, improve its technology base and broaden its
product range.  Nonetheless, the challenges in the near to
medium term are substantial.

The review will focus on:

  (1) the funding structure of the potential transaction;

  (2) the potential transaction's overall impact on TML's
      operating and financial profile -- including the company's
      plans to address the potential integration challenges and
      Moody's assessment of the substantial funding arrangements
      involved.

Should TML decide not to proceed with the transaction, the
rating outlook is likely to revert to stable.

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.

TML is listed on the Bombay Stock Exchange, the National Stock
Exchange of India and New York Stock Exchange.  It is ultimately
33.42% owned by the Tata Group as of September 2007.


TOP PEOPLE: Claims Filing Period Ends January 31
------------------------------------------------
Creditors of Top People Employment Bureau Ltd. have until
Jan. 31 to send in their full names, their addresses and
descriptions, full particulars of their debts and claims, and
names and addresses of their solicitors (if any) to:

         Duncan Beat
         Liquidator
         Tenon Recovery
         Charnwood House
         Gregory Boulevard
         Nottingham
         NG7 6NX
         England

Duncan Beat of Tenon Recovery was appointed liquidator of the
company on Dec. 8, 2007, by resolutions of members and
creditors.


VONAGE HOLDINGS: Inks Pact Implementing MOU on Sprint's Lawsuit
---------------------------------------------------------------
Vonage Holdings Corp. disclosed in a regulatory filing with the
U.S. Securities and Exchange Commission that on Dec. 28, 2007,
it entered into a settlement agreement with Sprint
Communications Company L.P., effective Oct. 27, 2007, to
implement the terms of a binding memorandum of understanding
entered into by the parties on Oct. 7, 2007.

                           Background

Pursuant to the terms of the MOU:

   On Oct. 19, 2007, the company paid Sprint the sum of
   US$80 million.

   On Nov. 16, 2007, the parties filed a joint motion for
   dismissal with prejudice, dismissing all claims and
   counterclaims in the patent infringement lawsuit Sprint filed
   against the company in the United States District Court for
   the District of Kansas.

   On Nov. 19, 2007, the parties filed a joint motion for
   dismissal with prejudice, dismissing all claims and
   counterclaims against Sprint in the case of Digital Packet
   Licensing Inc. v. SBC Internet Services, Inc. et al., pending
   in the United States District Court for the Northern District
   of Texas, which alleged patent infringement against Sprint.

                         Cross-License

The agreement provides that the company will receive a non-
exclusive, fully paid, non-refundable, non-sublicensable, non-
transferable license in the United States to all of Sprint's
patents in its Voice over Packet patent portfolio in a field of
use covering:

   (i) voice over internet protocol services in which the user
       accesses the Company's VoIP network over a data
       connection;

  (ii) related network architectures; and

(iii) related customer equipment.

Sprint will obtain, pursuant to the terms of the agreement, a
license to all of the company's patents issued in the future for
VoP technology, which license will expire when Sprint's license
to the company or its successors is terminated.

                        Previous Settlement

The agreement provides that within 21 days of the execution of
the agreement, Sprint, at its option, may elect to accept the
terms and conditions of a settlement agreement that the company
entered into on Oct. 25, 2007, with Verizon Services Corp. in
the matter of Verizon Servs. Corp. v. Vonage Holdings Corp. et
al., Case No. 06-0682, in the United States District Court for
the Eastern District of Virginia, as those terms and conditions
are reasonably conformed to Sprint's circumstances, in lieu of
the terms and conditions of the agreement.  However, Sprint will
not be entitled to the financial terms of the Verizon Agreement
for any funds paid to Verizon after the one-year period
following the execution of the agreement.

                         Transferability

The agreement includes certain restrictions on the
transferability of the license granted by Sprint to the company.
If the company is acquired by AT&T or Verizon or any successor,
then the acquiring company will only obtain a license for a
portion of Sprint's VoP patent portfolio, which would include
those patents that were the subject of the company's litigation
with Sprint.

Furthermore, the license to any telecom company would only cover
the company's existing customer base and would terminate if the
telecom company asserts any patent infringement claim against
Sprint, its affiliates or certain Sprint strategic partners.

If the company is acquired by an entity that is not a telecom
company, then the acquiring company would obtain a license for
all of the Sprint patents within its VoP portfolio for its
existing customer base as adjusted for the company's historical
growth rate.

However, if the acquiring company is an entity that has less
than 10% of the company's VoP customers falling within the field
of use at the time of acquisition, the license would cover the
entire customer base of the combined entity.  Unless Sprint has
first filed a patent infringement suit against the acquiring
company, the acquiring company's license terminates if it or any
affiliated entity asserts a patent infringement action against
Sprint, its affiliates and certain Sprint strategic partners.

The agreement contains additional restrictions on transfer,
including restrictions on subsequent transfers by acquiring
parties and transfers to parties against whom Sprint has filed a
patent infringement suit.

                       Covenant Not to Sue

Pursuant to the terms of the agreement, each party agreed not
to assert infringement claims against the other party for any
party's current commercial business activities as of the date of
the agreement or previously provided commercial business
activities.

The company also agreed not to assert any other infringement
action against Sprint unless Sprint first files a patent
infringement claim against the company for activities not
licensed or not covered by the agreement.  The covenants not to
sue are non-transferable.

The agreement terminates on May 5, 2014.

                          About Vonage

Headquartered in Holmdel, New Jersey, Vonage Holdings Corp.
(NYSE:VG) -- http://www.vonage.com/-- provides broadband
telephone services with over 1.4 million subscriber lines as of
February 8, 2006.  Utilizing its voice over Internet protocol
technology platform, the company offers feature-rich, low-cost
communications services with a call quality comparable to
traditional telephone services.  While customers in the United
States represent over 95% of its subscriber lines, Vonage
continues to expand internationally, having launched its service
in Canada in November 2004, and in the United Kingdom in May
2005.

                          *     *     *

At Sept. 30, 2007, Vonage Holdings Corp.'s consolidated balance
sheet showed US$665.8 million in total assets and US$728.7
million in total liabilities, resulting in a US$62.9 million
total shareholders' deficit.


* Insolvency Lawyer Louise Verrill Joins Brown Rudnick in London
----------------------------------------------------------------
Brown Rudnick, a premier international law firm, announced that
Louise Verrill has joined the firm as a partner in the European
Bankruptcy & Corporate Restructuring Group in the London office.
Ms. Verrill is considered by insolvency industry experts to be
one of the top legal minds in this field.  Her high profile
extends to her role as President of the Insolvency Lawyers'
Association, where she is the first woman to be elected to this
prestigious position.  Prior to joining Brown Rudnick, Ms.
Verrill was the head of Addleshaw Goddard's Insolvency Group in
London.

Ms. Verrill has a strong national and international client base.
She has extensive knowledge of and experience in corporate
recovery work, and advises on all aspects of recovery and
insolvency-related matters (both contentious and non-
contentious) including business restructure and turnaround.  Her
portfolio of clients includes hedge funds, investment banks and
other financial institutions, distressed institutional
investors, insolvency practitioners, and major corporations.

Ms. Verrill is the second dedicated insolvency/restructuring
partner to join the firm's growing European
insolvency/restructuring practice in London since Peter J.M.
Declercq was hired from Akin Gump Strauss Hauer & Feld LLP to
spearhead the launch of a resident London team in December 2005.

Announcing the new appointment, Brown Rudnick CEO Joseph F. Ryan
said, "In late 2005, we launched a strategic plan to establish
and develop a London resident insolvency/restructuring team.
Since then, we have attracted top legal talent, and the addition
of Louise is a continuation of that trend.  Louise's global
presence and strong industry ties will be an asset to the
practice, and to the firm."

Ms. Verrill remarked, "Brown Rudnick's focused global expansion
reflects the firm's growing reputation as a contender in the
European legal marketplace.  I look forward to working with a
team of attorneys who have a reputation for smart business
development, quality and superior client service."

                      About Brown Rudnick's
          Bankruptcy and Corporate Restructuring Group

Since the early 1980s, Brown Rudnick's Bankruptcy & Corporate
Restructuring Group has been among the pioneers representing
high-yield investors and fund managers - international industry
players that have brought an unprecedented level of financial
sophistication, innovation and aggressiveness to bankruptcy
cases and debt restructuring process.  By offering a
complementary legal perspective - characterized by high-level
experience; focused, creative strategies; and an
interdisciplinary staffing approach - the Group has assisted
this constituency in reshaping the dynamics of insolvency and
financial distress.

Over the past two decades, the breadth of the firm's practice
has been expanding to serve a wide range of clients in the
restructuring arena.  Today, with bankruptcy lawyers in the US
and UK, the Bankruptcy & Corporate Restructuring Practice Group
has a proud record and reputation, nationally and
internationally, as one of the leading bankruptcy practices.

Brown Rudnick has successfully represented an impressive list of
official and ad hoc committees, general unsecured creditors,
equity holders and other central parties in interest in many of
the largest and most complex Chapter 11 cases and out of court
proceedings.  The firm also offers significant incremental value
to institutional and private investors and fund managers in
structuring, negotiating, and documenting secondary market
transactions involving high-yield securities, as well as other
claims trading activities.

            About Brown Rudnick Berlack Israels LLP

Brown Rudnick is an international law firm with offices in the
United States and Europe.  The firm represents clients from
around the world, providing business-focused solutions that
address today's ever-changing, ever-demanding competitive
marketplace.  With an entrepreneurial and collaborative mindset,
Brown Rudnick offers a broad slate of capabilities and talents
in areas that include: Corporate & Securities, Taxation Law,
Finance, Bankruptcy & Corporate Restructuring, Real Estate,
Intellectual Property, Complex Litigation, Government Law &
Strategies, Energy and Health Law.

The Brown Rudnick Center for the Public Interest is a measure of
the Firm's strong commitment to the community and serves as an
umbrella entity encompassing the Firm's pro bono legal work,
charitable giving, community involvement and public interest
efforts.


* Large Companies with Insolvent Balance Sheet
----------------------------------------------
                                Shareholders    Total   Working
                                    Equity      Assets   Capital
                          Ticker    (US$MM)    (US$MM)   (US$MM)
                          ------ -----------  -------   --------

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


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


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


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

FRANCE
------
Arbel                     PA.ARB    (116)         194      (94)
Banque Nationale
   de Paris Guyane        BNPG       (41)         352      N.A.
BSN Glasspack                       (101)       1,151      179
Charbo De France                  (3,872)       4,738   (2,868)
Euro Computer System                (110)         682      377
Grande Paroisse S.A.                (927)         629      330
Immob Hoteliere                      (65)         259       10
Matussiere et Forest S.A. MTF        (78)         294      (28)
Outremer Telecom          OMT        (33)         229      (88)
Pagesjaunes GRP           PAJ     (2,718)       1,121     (291)
Pneumatiques Kleber S.A.             (34)         480      139
Rhodia S.A.               RHA       (828)       6,796      531
SDR Centrest                        (132)         252      N.A.
SDR Picardie                        (135)         413      N.A.
Soderag                               (3)         404      N.A.
Sofal S.A.                          (305)       6,619      N.A.
Spie-Batignolles                     (16)       5,281       75
Selcodis S.A.             SPVX       (18)         128      (22)
Trouvay Cauvin                        (0)         134       10
Usines Chausson                      (23)         249       35


GERMANY
-------
CBB Holding AG            COB        (43)         905      N.A.
Cinemaxx AG               MXC        (27)         177      (30)
Cognis Deutschland
   GmbH & Co. KG                    (174)       3,003      606
Dortmunder
   Actien-Brauerei        DABG       (13)         118      (29)
EM.TV AG                  EV4G.BE    (22)         849       15
F.A. Guenther & Son AG    GUSG       (10)         111      N.A.
Kabel Deutschland                 (1,199)        2280     (306)
Kaufring AG               KAUG       (19)         151      (51)
Maternus Kliniken AG      MAK.F       (4)         201      (20)
Nordsee AG                            (8)         195      (31)
Schaltbau Hold            SLTG       (13)         185        3
SinnLeffers AG            WHGG        (4)         454     (145)
Spar Handels- AG          SPAG      (442)       1,433     (234)

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

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

IRELAND
-------
Waterford Wed Ut          WTFU     (145)         897       208


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


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


NORWAY
------
Petroleum-Geo Services    PGO        (32)        2963   (5,250)


ROMANIA
-------
Rafo Onesti               RAF       (354)         475   (1,421)


RUSSIA
------
East Siberia Brd          VSNK       (79)         107     (278)
Omskij Kauchu             OMKA        (4)         125   (1,794)
OAO Samaraneftegas                  (332)         892  (16,942)
Vimpel Ship               SOVP       (93)         281     (420)
Zil Auto                  ZILLP     (178)         425  (10,597)


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


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


UKRAINE
-------
Dniprooblenergo           DNON       (40)         477     (807)
Donetskoblenergo          DOON      (286)         597   (1,991)


UNITED KINGDOM
--------------
Abbott Mead Vickers                   (2)         168      (16)
Alldays Plc                         (120)         252     (202)
Amey Plc                  AMY        (49)         932      (47)
Atkins (WS) Plc           ATK       (150)       1,390       62
BCH Group Plc             BCH         (6)         188      (44)
Blenheim Group            BEH       (153)         198      (34)
Booker Plc                BKRUY      (60)       1,298       (8)
Bradstock Group           BDK         (2)         269        5
Brent Walker Group        BWL     (1,774)         867   (1,157)
British Energy Ltd                (5,823)       4,921      290
British Energy Plc        BGY     (5,823)       4,921      434
British Nuclear
   Fuels Plc                      (4,248)      40,326      977
Carlisle Group                       (12)         204       15
Compass Group             CPG       (668)       2,972     (298)
Costain Group             COST      (108)         595      (61)
Danka Bus System          DNK.L     (108)         540       34
Dignity Plc               DTY        (55)         552       36
Easynet Group             ESY.L      (45)         323       38
Electrical and Music
   Industries Group       EMI     (2,266)       2,950     (296)
Galiform Plc              GFRM      (152)         889       35
Global Green Tech Group             (156)         408      (18)
Heath Lambert
   Fenchurch Group Plc               (10)       4,109      (10)
HMV Group Plc             HMV        (26)       1,273     (277)
Imperial Chemical
   Industries Plc         ICI       (370)       8,393        2
Invensys PLC                        (276)       3,914      357
Jarvis Plc                JRVS.L     (28)         370      (22)
Ladbrokes Plc             LAD     (1,227)       1,669     (267)
Lambert Fenchurch Group               (1)       1,827        3
London Stock Exchange     LSE       (689)         526     (195)
M 2003 Plc                        (2,204)       7,205     (756)
Misys Plc                 MSY         (7)       1,123     (131)
Mytravel Group            MT.L      (380)       1,818     (488)
Orange Plc                ORNGF     (594)       2,902        7
Regus Plc                 RGU.L      (46)         367      (60)
Rentokil Initial Plc      RTO     (1,044)       3,507     (457)
Saatchi & Saatchi         SSI       (119)         705      (41)
SFI Group                 SUF       (108)         178     (162)
Skyepharma PLC            SKP        (95)         211        2
Telewest
   Communications Plc     TLWT    (3,702)       7,581   (5,631)
Trio Finance              TRIO       (14)         592       15
Vauxhall Motors                     (699)       2,584     (463)
Wincanton Plc             WIN        (27)       1,451      (78)

                            *********

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

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

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

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

                            *********


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

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

Copyright 2008.  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 * * *