TCREUR_Public/080122.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 22, 2008, Vol. 8, No. 15

                            Headlines




A U S T R I A

ADACS SYSTEMS: Claims Registration Period Ends February 6
AJKM LLC: Vienna Court Orders Business Shutdown
ASIA LOGISTIC: Creditors' Meeting Slated for February 5
D & D PROJEKTIERUNG: Claims Registration Period Ends February 7
FASSADEN YAVUZ: Claims Registration Period Ends February 5

FRANZ WAGNER: Claims Registration Period Ends January 28
HAASL & RUCH: Claims Registration Period Ends February 5
LADSTATTER LLC: Claims Registration Period Ends January 29
OPM GASTRONOMIE: Claims Registration Period Ends January 28
PABNEU REISINGER: Claims Registration Period Ends February 4

PFEIFER FRANZ: Claims Registration Period Ends February 4
RW FENSTERMONTAGEN: Claims Registration Period Ends February 28

B E L G I U M

ADVANCED MICRO: Posts US$1.772BB Net Loss in 2007 4th Quarter

G E R M A N Y

ALLMONT MALEREI: Creditors' Meeting Slated for January 16
CAVIS MICROCAPS: Creditors' Meeting Slated for February 11
FABLOG GMBH: Creditors' Meeting Slated for January 29
HO-RA VERWALTUNGSGESELLSCHAFT: Claims Period Ends February 1
INPLAN GMBH: Claims Registration Period Ends January 31

KFZ-SERVICE FREDRICH: Claims Registration Period Ends Feb. 29
LASERTEC METALL: Claims Registration Period Ends January 29
LE CAR AUTOHANDELS: Creditors' Meeting Slated for February 8
NIEMANN DENTAL: Claims Registration Period Ends February 29
PRODEFENDER GMBH: Claims Registration Ends January 30

ROLFES BAUUNTERNEHMEN: Claims Registration Ends February 29
PRODEFENDER GMBH: Claims Registration Ends January 30
SCHWARZADLER GMBH: Claims Registration Period Ends January 29
STERKEL GMBH: Claims Registration Period Ends February 28

H U N G A R Y

PROPEX INC: Files for Bankruptcy to Right-Size Balance Sheet
PROPEX INC: Case Summary & 30 Largest Unsecured Creditors
SUN MICROSYSTEMS: Moody's Ba1 Rating Unmoved by MySQL Deal

I R E L A N D

AFFILIATED COMPUTER: Tennessee Medicaid Likely to Award New Deal
PALMER SQUARE: Moody's May Cut Low-B Ratings After Review
NEW BOND: Moody's May Cut Low-B Ratings After Review

I T A L Y

GOODYEAR TIRE: Holders Can Convert 4% Sr. Notes Until March 31

K A Z A K H S T A N

GOLDEN CAPITAL: Proof of Claim Deadline Slated for February 20
GOLDEN HOLDING: Creditors Must File Claims by February 20
KANAKAZ OIL: Claims Filing Period Ends February 20
KOMPANIYA DOLEVOGO: Creditors' Claims Due on February 20
PHOENIX SECURITY: Claims Registration Ends February 20

TANDEM TRANSLATIONS: Creditors Must File Claims by February 20
TEFFIS LLP: Claims Filing Period Ends February 20
UJNOYE ENERGO: Creditors' Claims Due on February 20

K Y R G Y Z S T A N

INTERPHARM LLC: Creditors Must File Claims by February 8

N E T H E R L A N D S

SYNIVERSE TECH: Discloses 2007 Full Year Preliminary Results
X5 RETAIL: Shareholders Okay Evgeny Kornilov as Finance Chief

N O R W A Y

CLEAR CHANNEL: Extends Key Dates for Senior Notes Tender Offer

P O L A N D

ELEKTRIM SA: Withdraws Shares from Trading on WSE

P O R T U G A L

ACXIOM CORPORATION: Names John Meyer as CEO and President

R U S S I A

GOLDEN TELECOM: Vimpelcom Commences Offer to Acquire Shares
SISTEMA JSFC: Raises Stake in Shyam Telelink to 51%
TATNEFT OIL: Expects EUR64 Billion Pretax Profit in 2007
VIMPEL-COMMUNICATIONS: Commences Offer to Acquire Golden Telecom
X5 RETAIL: Shareholders Okay Evgeny Kornilov as Finance Chief

S W E D E N

AVNET INC: Unit Signs Distribution Deal with Taiyo Yuden
BRIGHTPOINT INC: Taps Bashar Nejdawi as Mobile Enhancement Pres.

S W I T Z E R L A N D

ADS HOBO: Basel Court Closes Bankruptcy Proceedings
BIRBET LLC: Basel Court Closes Bankruptcy Proceedings
BOUTIQUE ELEGANCE: Aargau Court Starts Bankruptcy Proceedings
D + S GASTROBETRIEBE: Bern Court Closes Bankruptcy Proceedings
GASTINO JSC: Lucerne Court Closes Bankruptcy Proceedings

HAMBROOK & GREENSTOCK: Thurgau Court Starts Bankruptcy Process
INTERCULINAIRE JSC: Creditors Must File Claims by January 31
K-SYSTEMS LLC: Aargau Court Starts Bankruptcy Proceedings
LASATRON SWISS: Lucerne Court Closes Bankruptcy Proceedings
MUSEION JSC: Creditors' Liquidation Claims Due by January 31

OPTELMA PRODUCTION: Lucerne Court Starts Bankruptcy Proceedings
OTTIGER BAUMANAGEMENT: Thurgau Court Starts Bankruptcy Process
TECOMAC JSC: Basel Court Closes Bankruptcy Proceedings
WOHLER IMMOBILIEN: Thurgau Court Starts Bankruptcy Proceedings

U K R A I N E

CAPITAL WELL: Creditors Must File Claims by January 24
DRUZHBA COMMON: Creditors Must File Claims by January 24
GORLOVKA EXPLORATION: Claims Filing Deadline Set January 24
KARAKUBSKY OJSC: Creditors Must File Claims by January 24
MILK LTD: Creditors Must File Claims by January 24

MOTORCAR ENTERPRISE2: Creditors Must File Claims by January 24
POBEDA LLC: Creditors Must File Claims by January 24
RAZDOLNOYEAL AGRICULTURAL: Creditors Must File Claims by Jan. 24
SELESCHINA BREADRECEIVING: Creditors Must File Claims by Jan. 24
SHYSHAKI-BUILDING COMPLEX: Claims Filing Deadline Set January 24

SUGAR PRODUCT: Proofs of Claim Filing Deadline Set on January 24

U N I T E D   K I N G D O M

BRITISH ENERGY: Reactor Closure Costs to Reach GBP70 Million
CHRYSLER LLC: Makes Organizational Changes at Mopar
G KERTLAND: Brings In Liquidators from Mazars
GAP INC: Names Sabrina Simmons as Chief Financial Officer
GIGI LTD: Stephen P. Grant Leads Liquidation Procedure

INVENSYS PLC : Fitch Upgrades Issuer Default Rating to BB
PEACOCK & HUDDLESTON: Claims Filing Period Ends March 31
SOUTH LONDON: Taps A. Clifton to Liquidate Assets
SYDNEY STREET: Moody's May Cut Ba1 Rating After Review
TEREX CORP: Appoints Four Officers to Senior Executive Roles

TRIMAS CORP: Operating Unit Bags Hi-Vol's Production Contracts
WEEKENDERS EUROPE: Claims Filing Period Ends February 18




                            *********


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


ADACS SYSTEMS: Claims Registration Period Ends February 6
---------------------------------------------------------
Creditors owed money by LLC ADACS SYSTEMS (FN 252792d) have
until Feb. 6, 2008, to file written proofs of claim to court-
appointed estate administrator Stephan Riel at:

          Dr. Stephan Riel
          c/o  Dr. Johannes Jaksch
          Landstrasser Hauptstrasse 1/2
          1030 Vienna
          Austria
          Tel: 713 44 33
          Fax: 713 10 33
          E-mail: kanzlei@jsr.at    

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:10 a.m. on Feb. 20, 2008, 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 Dec. 11, 2007 (Bankr. Case No. 2 S 169/07a).  Johannes Jaksch
represents Dr. Riel in the bankruptcy proceedings.


AJKM LLC: Vienna Court Orders Business Shutdown
-----------------------------------------------
The Trade Court of Vienna entered Dec. 10, 2007, an order
shutting down the business of LLC AJKM (FN 280243y).

Court-appointed estate administrator Brigitte Stampfer
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. Brigitte Stampfer
          Stadlergasse 27
          1130 Vienna
          Austria
          Tel: 877 33 30
          Fax: 877 33 30 33
          E-mail: ra-stampfer@utanet.at  

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Dec. 5, 2007 (Bankr. Case No 2 S 167/07g).


ASIA LOGISTIC: Creditors' Meeting Slated for February 5
-------------------------------------------------------
Creditors owed money by LLC Asia Logistic (FN 240372p) are
encouraged to attend the creditors' meeting at 9:15 a.m. on  
Feb. 5, 2008.

The creditors' meeting will be held at:

          The Trade Court of Vienna
          Room 1606
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Dec. 5, 2007 (4 S 139/07d).

Dominik Baurecht serves as the court-appointed estate
administrator of the bankrupt's estate.  Wolfgang Zorn
represents Mag. Baurecht in the bankruptcy proceedings.

The estate administrator can be reached at:

          Mag. Dominik Baurecht
          c/o  Dr. Wolfgang Zorn
          Weihburggasse 4
          1010 Vienna
          Austria
          Tel: 533 66 61-77
          Fax: 533 66 61 10
          E-mail: baurecht@gnbz.at


D & D PROJEKTIERUNG: Claims Registration Period Ends February 7
---------------------------------------------------------------
Creditors owed money by LLC D & D Projektierung- und
Baumanagement (FN 248578g) have until Feb. 7, 2008, to file
written proofs of claim to court-appointed estate administrator
Susanne Fruhstorfer at:

          Dr. Susanne Fruhstorfer
          c/o  Dr. Andrea Fruhstorfer
          Seilerstatte 17
          1010 Vienna
          Austria
          Tel: 512 57 76/13
          Fax: 512 57 76 50
          E-mail: office@fg-lawyers.at      

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:15 a.m. on Feb. 21, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1703
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Dec. 5, 2007 (Bankr. Case No. 5 S 139/07m).  Andrea
Fruhstorfer represents Dr. Fruhstorfer in the bankruptcy
proceedings.


FASSADEN YAVUZ: Claims Registration Period Ends February 5
----------------------------------------------------------
Creditors owed money by KEG Fassaden Yavuz (FN 250229i) have
until Feb. 5, 2008, to file written proofs of claim to court-
appointed estate administrator Helmut Kientzl at:

          Dr. Helmut Kientzl
          Rudolf Diesel-Strasse 26
          2700 Wiener Neustadt
          Austria
          Tel: 02622/23726
          Fax: 02622/83969
          E-mail: office@kientzl.at    

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on Feb. 19, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Wiener Neustadt
          Room 15
          Wiener Neustadt
          Austria

Headquartered in Wiener Neustadt, Austria, the Debtor declared
bankruptcy on Dec. 11, 2007 (Bankr. Case No. 11 S 123/07k).  


FRANZ WAGNER: Claims Registration Period Ends January 28
--------------------------------------------------------
Creditors owed money by LLC Franz Wagner Holding (FN 85208g)
have until Jan. 28, 2008, to file written proofs of claim to
court-appointed estate administrator Oskar Welzl at:

          Dr. Oskar Welzl
          c/o  Mag. Christopher Schuster
          Fabrikstrasse 3
          4020 Linz
          Austria
          Tel: 77 33 33-0 bzw. 77 34 75
          Fax: 77 33 33-44
          E-mail: ra-welzl@aon.at    

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:00 a.m. on Feb. 11, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Linz
          Room 522
          Fifth Floor
          Linz
          Austria

Headquartered in Linz, Austria, the Debtor declared bankruptcy
on Dec. 11, 2007 (Bankr. Case No. 12 S 98/07k).  Christopher
Schuster represents Dr. Welzl in the bankruptcy proceedings.


HAASL & RUCH: Claims Registration Period Ends February 5
--------------------------------------------------------
Creditors owed money by LLC Haasl & Ruch (FN 118428i) have until
Feb. 5, 2008, to file written proofs of claim to court-appointed
estate administrator Friedrich Lorenz at:

          Dr. Friedrich Lorenz
          Hauptstrasse 4
          2486 Pottendorf
          Austria
          Tel: 02623/7226161
          Fax: 02623/7226120
          E-mail: masseverwalter@aon.at   

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on Feb. 19, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Wiener Neustadt
          Room 15
          Wiener Neustadt
          Austria

Headquartered in Berndorf, Austria, the Debtor declared
bankruptcy on Dec. 11, 2007 (Bankr. Case No. 11 S 121/07s).  


LADSTATTER LLC: Claims Registration Period Ends January 29
----------------------------------------------------------
Creditors owed money by LLC Ladstatter  (FN 256580z) have until
Jan. 29, 2008, to file written proofs of claim to court-
appointed estate administrator Heinz Kassmannhuber at:

          Dr. Heinz Kassmannhuber
          c/o Dr. Gerwald Schmidberger
          Stelzhamerstrasse 11
          4400 Steyr
          Austria
          Tel: 07252/50 300
          E-mail: office@sks-law.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 2:00 p.m. on Feb. 12, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Steyr
          Hall 7
          Second Floor
          Steyr
          Austria

Headquartered in Wolfern, Austria, the Debtor declared
bankruptcy on Dec. 7, 2007 (Bankr. Case No. 14 S 43/07g).  
Gerwald Schmidberger represents Dr. Kassmannhuber in the
bankruptcy proceedings.


OPM GASTRONOMIE: Claims Registration Period Ends January 28
-----------------------------------------------------------
Creditors owed money by LLC OPM Gastronomie-Consulting (FN
97711v) have until Jan. 28, 2008, to file written proofs of
claim to court-appointed estate administrator Oskar Welzl at:

          Dr. Oskar Welzl
          c/o  Mag. Christopher Schuster
          Fabrikstrasse 3
          4020 Linz
          Austria
          Tel: 77 33 33-0 bzw. 77 34 75
          Fax: 77 33 33-44
          E-mail: ra-welzl@aon.at   

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on Feb. 11, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Linz
          Room 522
          Fifth Floor
          Linz
          Austria

Headquartered in Linz, Austria, the Debtor declared bankruptcy
on Dec. 11, 2007 (Bankr. Case No. 12 S 97/07p).  Christopher
Schuster represents Dr. Welzl in the bankruptcy proceedings.


PABNEU REISINGER: Claims Registration Period Ends February 4
------------------------------------------------------------
Creditors owed money by LLC pabneu Reisinger  (FN 83426k) have
until Feb. 4, 2008, to file written proofs of claim to court-
appointed estate administrator Guenther Grassner at:

          Dr. Guenther Grassner
          c/o  Dr. Norbert Mooseder
          Suedtirolerstrasse 4-6
          4020 Linz
          Austria
          Tel: +43 70770815
          Fax: +43 70770816
          E-mail: lawfirm@gltp.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on Feb. 18, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Wiener Neustadt
          Room 522
          Fifth Floor
          Wiener Neustadt
          Austria

Headquartered in Pabneukirchen, Austria, the Debtor declared
bankruptcy on Dec. 11, 2007 (Bankr. Case No. 12 S 96/07s).  
Norbert Mooseder represents Dr. Grassner in the bankruptcy
proceedings.


PFEIFER FRANZ: Claims Registration Period Ends February 4
---------------------------------------------------------
Creditors owed money by LLC Pfeifer Franz Elementba (FN 217320p)
have until Feb. 4, 2008, to file written proofs of claim to
court-appointed estate administrator Friedrich Filzmaier at:

          Mag. Friedrich Filzmaier
          Herrengasse 22/2
          8010 Graz
          Austria
          Tel: 0316/820202-0
          Fax: 0316/820202-20
          E-mail: filzmaier@mekf.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on Feb. 19, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Graz
          Room 205
          Hall K
          Second Floor
          Graz
          Austria

Headquartered in Grosspesendorf, Austria, the Debtor declared
bankruptcy on Dec. 11, 2007 (Bankr. Case No. 40 S 41/07p).  


RW FENSTERMONTAGEN: Claims Registration Period Ends February 28
---------------------------------------------------------------
Creditors owed money by LLC RW Fenstermontagen (FN 170987b) have
until Feb. 28, 2008, to file written proofs of claim to court-
appointed estate administrator Markus Weixlbaumer at:

          Mag. Markus Weixlbaumer
          Hofgasse 7
          4020 Linz
          Austria
          Tel: 0732/776234
          Fax: 0732/77623422
          E-mail: hackl.hatak@aon.at    

Creditors and other interested parties are encouraged to attend
the first creditors' meeting at 9:30 a.m. on Feb. 11, 2008, for
the examination of claims.

The meeting of creditors will be held at:

          The Land Court of Linz
          Room 522
          Fifth Floor
          Linz
          Austria

Headquartered in Linz, Austria, the Debtor declared bankruptcy
on Dec. 6, 2007 (Bankr. Case No. 12 S 92/07b).  


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


ADVANCED MICRO: Posts US$1.772BB Net Loss in 2007 4th Quarter
-------------------------------------------------------------
Advanced Micro Devices Inc. reported that for the fourth quarter
ended Dec. 29, 2007, it incurred a net loss of US$1.772 billion
and an operating loss of US$1.678 billion.  Fourth quarter net
loss included charges of US$1.675 billion, of which
US$1.669 billion were operating charges.  The non-cash portion
of the fourth quarter charges was US$1.606 billion.  

Fourth quarter 2007 revenue was US$1.770 billion, an 8% increase
compared to the third quarter of 2007 and flat compared to the
fourth quarter of 2006.  

In the third quarter of 2007, AMD reported revenue of
US$1.632 billion, a net loss of US$396.0 million, and an
operating loss of US$226.0 million.  In the fourth quarter of
2006, AMD reported revenue of US$1.773 billion, a net loss
US$576.0 million, and an operating loss of US$529.0 million.

For the year ended Dec. 29, 2007, AMD achieved revenue of
US$6.013 billion, a 6% increase from 2006.  The fiscal 2007 net
loss was US$3.379 billion.  Included in the 2007 net loss were
non-cash charges of US$2.007 billion.  AMD reported revenue of
US$5.649 billion and a net loss of US$166.0 million for fiscal
2006.

"We were close to break-even operationally for the quarter,
reducing our fourth quarter non-GAAP operating loss to
US$9.0 million.  We improved gross margin by three points
sequentially, driven by increased shipments of new products,
higher average selling prices and cost containment actions,"
said Robert J. Rivet, AMD's chief financial officer.  "We
shipped a record number of microprocessor units in the quarter,
including nearly four hundred thousand quad-core processors."

Fourth quarter 2007 gross margin was 44%, compared to 41% in the
third quarter of 2007 and 36% in the fourth quarter of 2006.

                          Balance Sheet

At Dec. 29, 2007, the company's consolidated balance sheet
showed US$11.550 in total assets, US$8.295 billion in total
liabilities, US$265.0 million in minority interest in
consolidated subsidiaries, and US$2.990 billion in total
stockholders' equity.

                       About Advanced Micro

Headquartered in Sunnyvale, California, Advanced Micro Devices
Inc. (NYSE: AMD) -- http://www.amd.com/-- provides innovative  
processing solutions in the computing, graphics and consumer
electronics markets.  The company has a facility in Singapore.  
It has sales offices in Belgium, France, Germany, the United
Kingdom, Mexico and Brazil.

                          *     *     *

Advanced Micro Devices Inc. continues to carry Standard & Poor's
Ratings Services' B/Negative/-- corporate credit rating.  S&P
assigned a 'B' rating to the company's US$1.5 billion 5.75%
senior convertible notes due 2012, and raised the rating on the
company's existing senior unsecured debt to 'B' from 'B-'.

In addition, Fitch Ratings assigned a 'CCC+/RR6' rating to the
company's private placement of US$1.5 billion 5.75% convertible
senior notes due 2012.  Fitch also affirmed the company's Issuer
Default Rating at 'B'; and Senior unsecured debt at 'CCC+/RR6'.


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


ALLMONT MALEREI: Creditors' Meeting Slated for January 16
---------------------------------------------------------
The court-appointed insolvency manager for ALLMONT Malerei-
Meisterbetrieb GmbH, Dr. Joachim Heitsch, will present his first
report on the Company's insolvency proceedings at a creditors'
meeting at 12:15 p.m. on Jan. 16, 2008.

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 11:30 a.m. on April 30, 2008, at the same
venue.

Creditors have until Feb. 29, 2008, to register their claims
with the court-appointed insolvency manager.

The insolvency manager can be reached at:

         Dr. Joachim Heitsch
         Berliner Str. 117
         10713 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against ALLMONT Malerei-Meisterbetrieb GmbH on
Nov. 30, 2007.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

          ALLMONT Malerei-Meisterbetrieb GmbH
          Damaschkestr. 43
          10711 Berlin
          Germany


CAVIS MICROCAPS: Creditors' Meeting Slated for February 11
----------------------------------------------------------
The court-appointed insolvency manager for Cavis microcaps GmbH,
Stephan Kallenberg, will present his first report on the
Company's insolvency proceedings at a creditors' meeting at
9:45 a.m. on Feb. 11, 2008.

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

         The District Court of Mainz
         Hall 174
         Building B
         Ernst-Ludwig Strasse 7
         55116 Mainz
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:45 a.m. on April 7, 2008, at the same
venue.

Creditors have until Feb. 28, 2008, to register their claims
with the court-appointed insolvency manager.

The insolvency manager can be reached at:

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

The District Court of Mainz opened bankruptcy proceedings
against Cavis microcaps GmbH on Jan. 1, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

          Cavis microcaps GmbH
          Friedrich-Koenig-Str. 3
          55129 Mainz-Hechtsheim
          Germany


FABLOG GMBH: Creditors' Meeting Slated for January 29
-----------------------------------------------------
The court-appointed insolvency manager for Fablog GmbH, Michael
C. Frege will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 9:20 a.m. on
Jan. 29, 2008.

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 9:40 a.m. on April 22, 2008, at the same
venue.

Creditors have until Feb. 29, 2008, to register their claims
with the court-appointed insolvency manager.

The insolvency manager can be reached at:

          Michael C. Frege
          Lennestr. 7
          10785 Berlin
          Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Fablog GmbH on Dec. 1, 2007.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

          Fablog GmbH
          Fanny-Zobel-Str. 11
          12435 Berlin
          Germany


HO-RA VERWALTUNGSGESELLSCHAFT: Claims Period Ends February 1
------------------------------------------------------------
Creditors of HO-RA Verwaltungsgesellschaft mbH have until
Feb. 1, 2008, to register their claims with court-appointed
insolvency manager Dr. Marcus Goebel.

Creditors and other interested parties are encouraged to attend
the meeting at 7:55 a.m. on Feb. 22, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Landshut
         Meeting Hall 9/I
         Maximilianstrasse 22-24
         Landshut
         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. Marcus Goebel
         Marschallstr. 19
         84028 Landshut
         Germany
         Tel: 0871/430160
         Fax: 0871/4301699

The District Court of Landshut opened bankruptcy proceedings
against HO-RA Verwaltungsgesellschaft mbH on Jan. 3, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         HO-RA Verwaltungsgesellschaft mbH
         Gute Anger 11
         85356 Freising
         Germany


INPLAN GMBH: Claims Registration Period Ends January 31
-------------------------------------------------------
Creditors of Inplan GmbH have until Jan. 31, 2008, to register
their claims with court-appointed insolvency manager Dr.
Friedrich Neumann.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on March 5, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Regensburg
         Room 105
         Augustenstr. 5
         Regensburg
         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. Friedrich Neumann
         Ludwig-Eckert-Str. 5-7
         93049 Regensburg
         Germany
         Tel: 0941/25085/86
         Fax: 0941/28123

The District Court of Regensburg opened bankruptcy proceedings
against Inplan GmbH on Jan. 4, 2008.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Inplan GmbH
         Talstr. 25
         93152 Nittendorf
         Germany


KFZ-SERVICE FREDRICH: Claims Registration Period Ends Feb. 29
-------------------------------------------------------------
Creditors of Kfz-Service Fredrich GmbH have until Feb. 29, 2008,
to register their claims with court-appointed insolvency manager
Christoph Schulte-Kaubruegger.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 a.m. on April 28, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

The insolvency manager can be reached at:

          Dr. Christoph Schulte-Kaubruegger
          Genthiner Str. 48
          10785 Berlin
          Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Kfz-Service Fredrich GmbH on Dec. 1, 2007.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Kfz-Service Fredrich GmbH
          Krokusstr. 89
          12357 Berlin
          Germany


LASERTEC METALL: Claims Registration Period Ends January 29
-----------------------------------------------------------
Creditors of Lasertec Metall- und Kunststoffverarbeitung GmbH
have until Jan. 29, 2008 to register their claims with court-
appointed insolvency manager Miguel Grosser Kanzlei Jaffe.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Feb. 19, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Wiesbaden
         E 36 A
         Building E
         Moritzstrasse 5
         Hinterhaus
         65185 Wiesbaden
         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:

         Miguel Grosser Kanzlei Jaffe
         Muenchener Strasse 13
         60329 Frankfurt
         Germany
         Tel: 069-24 00 65 0
         Fax: 069-24 00 65 10


LE CAR AUTOHANDELS: Creditors' Meeting Slated for February 8
------------------------------------------------------------
The court-appointed insolvency manager for Le Car Autohandels
GmbH & Co.KG, Detlef Stuermann will present his first report on
the Company's insolvency proceedings at a creditors' meeting at
9:15 a.m. on Feb. 8, 2008.

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

         The District Court of Bremerhaven
         Hall 209
         Nordstr. 10
         27580 Bremerhaven
         Germany         

The Court will also verify the claims set out in the insolvency
manager's report at 9:05 a.m. on April 4, 2008, at the same
venue.

Creditors have until Feb. 29, 2008, to register their claims
with the court-appointed insolvency manager.

The insolvency manager can be reached at:

          Detlef Stuermann
          Domshof 18-20
          28195 Bremen
          Germany
          Tel: 0421-36860
          Fax: 0421-3686100

The District Court of Bremerhaven opened bankruptcy proceedings
against Le Car Autohandels GmbH & Co.KG on Jan. 1, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Le Car Autohandels GmbH & Co.KG
          Stresemannstr. 301
          27580 Bremerhaven
          Germany


NIEMANN DENTAL: Claims Registration Period Ends February 29
-----------------------------------------------------------
Creditors of Niemann Dental GmbH have until Feb. 29, 2008, to
register their claims with court-appointed insolvency manager
Thomas Jacobs.

Creditors and other interested parties are encouraged to attend
the meeting at 9:05 a.m. on March 11, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Dessau
         Hall 123
         Willy-Lohmann-Str. 33
         Dessau
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

          Thomas Jacobs
          Tieckstrasse 3
          04275 Leipzig
          Germany
          Tel: 0341/303850
          Fax: 0341/3038511
          E-mail: leipzig@brinkmann-partner.de  

The District Court of Dessau opened bankruptcy proceedings
against Niemann Dental GmbH on Jan. 2, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

          Niemann Dental GmbH
          Goethehain 4
          06791 Zschornewitz
          Germany


PRODEFENDER GMBH: Claims Registration Ends January 30
-----------------------------------------------------
Creditors of proDefender GmbH have until Jan. 30, 2008, to
register their claims with court-appointed insolvency manager
Dr. Frank Krueger.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on Feb. 27, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:
         
         The District Court of 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:

         Dr. Frank Krueger
         Sutthauser Str. 394
         49080 Osnabrueck
         Germany
         Tel: 0541-990330
         Fax: 0541-9903310

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

The Debtor can be reached at:

         proDefender GmbH
         Theodor-Heuss-Platz 10
         49074 Osnabrueck
         Germany

         Attn: Cornelia Denker, Manager
         Niewedder Weg 21
         49179 Ostercappeln
         Germany


ROLFES BAUUNTERNEHMEN: Claims Registration Ends February 29
-----------------------------------------------------------
Creditors of Rolfes Bauunternehmen GmbH have until
Feb. 29, 2008, to register their claims with court-appointed
insolvency manager Juergen Vortmann.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on March 14, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

          The District Court of Cloppenburg
          Hall 6
          Hauptgebaude
          Burgstrasse 9
          49661 Cloppenburg
          Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

          Dr. Juergen Vortmann
          Muehlenstr. 24
          49661 Cloppenburg
          Germany
          Tel: 04471/70 64 0
          Fax: 04471/70 64 29

The District Court of Cloppenburg opened bankruptcy proceedings
against Rolfes Bauunternehmen GmbH on Nov. 29, 2007.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Rolfes Bauunternehmen GmbH
          Attn: Georg Rolfes, Manager
          Lessingstrasse 13
          49681 Garrel
          Germany


PRODEFENDER GMBH: Claims Registration Ends January 30
-----------------------------------------------------
Creditors of proDefender GmbH have until Jan. 30, 2008, to
register their claims with court-appointed insolvency manager
Dr. Frank Krueger.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on Feb. 27, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:
         
         The District Court of 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:

         Dr. Frank Krueger
         Sutthauser Str. 394
         49080 Osnabrueck
         Germany
         Tel: 0541-990330
         Fax: 0541-9903310

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

The Debtor can be reached at:

         proDefender GmbH
         Theodor-Heuss-Platz 10
         49074 Osnabrueck
         Germany

         Attn: Cornelia Denker, Manager
         Niewedder Weg 21
         49179 Ostercappeln
         Germany


SCHWARZADLER GMBH: Claims Registration Period Ends January 29
-------------------------------------------------------------
Creditors of Landfleischerei und Lebensmittelhandel Schwarzadler
GmbH have until Jan. 29, 2008, to register their claims with
court-appointed insolvency manager Dr. Dirk Wittkowski.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on March 4, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of 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. Dirk Wittkowski
         Am Brauhaus 5
         01099 Dresden
         Germany
         Web site: http://www.henningsmeier.com

The District Court of Dresden opened bankruptcy proceedings
against Landfleischerei und Lebensmittelhandel Schwarzadler GmbH
on Jan. 4, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         Landfleischerei und Lebensmittelhandel
         Schwarzadler GmbH
         Gewerbegebiet 10
         02627 Schwarzadler
         Germany


STERKEL GMBH: Claims Registration Period Ends February 28
---------------------------------------------------------
Creditors of Sterkel GmbH have until Feb. 28, 2008, to register
their claims with court-appointed insolvency manager Bruno
Fraas.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on March 18, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Wuerzburg
         Meeting Hall 2
         Second Stock
         Virchowstr. 14
         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:

          Bruno Fraas
          Berliner Platz 6
          97080 Wuerzburg
          Germany
          Tel. 0931/359-800

The District Court of Wuerzburg opened bankruptcy proceedings
against Sterkel GmbH on Jan. 1, 2008.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

          Sterkel GmbH
          Industriestr. 3
          97342 Marktsteft
          Germany


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


PROPEX INC: Files for Bankruptcy to Right-Size Balance Sheet
------------------------------------------------------------
Propex Inc., on Jan. 18 2008, filed for protection under Chapter
11 of the U.S. Bankruptcy Code with the U.S. Bankruptcy Court
for the Eastern District of Tennessee.  The company said that it
filed for bankruptcy in order to right-size its balance sheet.  

The company will continue to operate its facilities and offices
in the ordinary course of business while it restructures.  
Additionally, Propex has arranged a US$60 million credit
facility for which it will be seeking Court approval.  This will
provide the company with immediate and sufficient liquidity to
operate its business on an ongoing basis.

The company also filed for Bankruptcy Court approval of various
First-Day Motions designed to ensure continuation of its
ordinary business operations.  Specifically, Propex requested
and expects that the Court will approve the company's new
financing to continue all operations in the normal course,
including maintaining payroll and employee benefits; all
deliveries to customers; and fulfillment of obligations to
critical suppliers.  The company anticipates its First-Day
Motions to be approved in the coming days.

"[Fri]day's steps are part of an important process to strengthen
Propex," said Joe Dana, President of Propex Inc.  "We believe
the financial reorganization will allow us to implement a
restructuring plan that will lower our debt levels and expand
our market leadership in key sectors from a position of
financial strength."

The new financing will provide US$60 million in immediate
liquidity. With this cash infusion, the company can focus on
servicing its customers and improving operations.  Upon
completion, the Chapter 11 restructuring is expected to reduce
debt and create additional cash flow that otherwise would be
earmarked for debt service.

"During the past year, our entire industry has been hit hard by
the general economic decline led by the deteriorating housing
market plus the escalating cost of raw materials.  I am pleased
we now have a way forward and appreciate the support of our
valued customers, suppliers, lenders and employees," said Mr.
Dana.

The filing impacts Propex's U.S. operations only and does not
impact the company's Latin American and European operations.

The company will provide updates regarding ongoing operations
plans as they become available.

                        Covenant Default

Propex, at Sept. 30, 2007, said it was not in compliance with
the two leverage ratio covenants under the Second Amendment to a
Credit Agreement dated Jan. 26, 2007.  The company is currently
in default under the Credit Agreement and in negotiations with
its lenders in order to resolve the issue of non-compliance.  As
of Sept. 30, 2007, the company had US$230.6 million of
borrowings outstanding under the Credit Agreement.

                         About Propex Inc.

Propex Inc. -- http://www.propexinc.com/-- manufactures primary  
and secondary carpet backing.  The company also manufactures and
markets woven and non-woven polypropylene fabrics and fibers
used in geosynthetic and a variety of other industrial
applications.

Based in Gronau, Germany and Gyor, Hungary, Propex International
-- http://www.geotextile.com/europe/-- manufactures carpet  
backings, geotextiles and composite sheets.  Strict
manufacturing specifications, quality control monitoring and
laboratory testing ensure our products consistently meet or
exceed European standards.


PROPEX INC: Case Summary & 30 Largest Unsecured Creditors
---------------------------------------------------------
Lead Debtor: Propex, Inc.
             aka Propex Fabrics, Inc.
             aka Propex Geosolutions Corporation
             aka SI Geosolutions Exchange, L.L.C.
             aka SI Concrete Exchange, L.L.C.
             aka SI Concrete Holdings, L.L.C.
             6025 Lee Highway, Suite 425
             Chattanooga, TN 37421

Bankruptcy Case No.: 08-10249

Debtor-affiliates filing separate Chapter 11 petitions:

   Entity                                          Case No.
   ------                                          --------
   Propex Holdings, Inc.                           08-10250
   Propex Concrete Systems Corp.                   08-10252
   Propex Fabrics International Holdings I, Inc.   08-10253
   Propex Fabrics International Holdings II, Inc.  08-10254
        Inc.

Type of Business: The Debtor produces geosynthetic, concrete,
                  furnishing and industrial fabrics and fiber.
                  It creator the following brands: Pyramat,
                  Actionbac, Fibermesh, Duon and CURV.  See
                  http://www.propexinc.com/

Chapter 11 Petition Date: January 18, 2008

Court: Eastern District of Tennessee (Chattanooga)

Judge: John C. Cook

Debtor's Counsel: Edward L. Ripley, Esq.
                  Henry J. Kaim, Esq.
                  Mark W. Wege, Esq.
                  King & Spalding
                  1100 Louisiana, Suite 4000
                  Houston, TX 77002
                  Tel: (713) 751-3200

                        --and--

                  Shelley D. Rucker, Esq.
                  Miller & Martin, L.L.P.
                  Volunteer Building, Suite 1000
                  832 Georgia Avenue
                  Chattanooga, TN 37402-2289
                  Tel: (423) 756-6600

Consolidated Financial Condition as September 30, 2007:

Total Assets: US$585,700,000

Total Debts:  US$527,400,000

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

  Entity                      Nature of Claim       Claim Amount
  ------                      ---------------       ------------
B.P. Amoco Chemical Holding   note                 US$31,258,333
Co.
Attention: Mike Kapelinski
4010 Winfield Road
Warrenville, IL 60666
Tel: (630) 821-3130

S.S.B.&T. Co.                  bond holder         US$30,294,000
Attention: Paul Desharnais
1776 Heritage Drive
North Quincy, MA 02171
Tel: (617) 985-2880
Fax: (617) 537-6608

Bear Stearn                    bond holder         US$23,916,000
Attention: Vincent Marzella
One Metrotech Center North,
4th Floor
Brooklyn, NY 11201-3862

Morgan Stanley                 bond holder         US$13,500,000
Attention: Michelle Ford
901 South Bond Street,
6th Floor
Baltimore, MD 21231
Tel: (410) 563-7074
Fax: (410) 534-1420

First Clear                    bond holder         US$10,349,000
Attention: Heidi Richnafsky
10700 Wheat First Drive,
Suite WS 1023
Glen Allen, VA 23060
Tel: (804) 398-4931

Raymond                        bond holder          US$8,072,000
Attention: Mike Dillard
880 Carilion Parkway
P.O. Box 12749
St. Petersberg, FL 33716
Tel: (727) 567-3206
Fax: (727) 567-8837

J.P. Morgan Chase Bank, N.A.   bond holder          US$7,848,000
Attention: Sanjay Ghuliani
Wing B, Mindspace, Malad West
Floor 6
Mumbai, India 400 064
Tel: (469) 477-2140
Fax: (912) 2665069745

Mitsub U.F.J.                  bond holder          US$7,450,000
Attention: Richard Wenshoski
420 Fifth Avenue, 6th Floor
New York, NY 10018
Tel: (212) 307-3461

Northern Trust                 bond holder          US$5,900,000
Attention: Robert Valentin
801 South Canal Street
Chicago, IL 60607
Tel: (312) 557-8666

Goldman                        bond holder          US$5,870,000
Attention: Gloria
30 Hudson Street
Jersey City, NJ 07302
Tel: (212) 902-1973
Fax: (212) 428-1521

Nat City B                     bond holder          US$5,842,000
Attention: Halle Staskey
4100 West 150th Street
Cleveland, OH 44135
Tel: (216) 257-4546
Fax: (216) 257-5941

Pershing Securities Corp.      bond holder          US$5,051,000
Attention: Al Hernandez
1 Pershing Plaza
Jersey City, NJ 07399
Tel: (201) 413-3090
Fax: (201) 413-5263

Bank of New York               bond holder          US$4,786,000
Attention: Mitchel Sobel
One Wall Street, 6th Floor
New York, NY 10286
Tel: (212) 635-6206
Fax: (212) 635-6224

Total Petrochemicals, Inc.     trade debt           US$3,552,739
Atlanta, GA 31193-2437
Tel: (972) 801-2616
Fax: (713) 483-5291

Charles Schwab                 bond holder          US$3,585,000
Attention: Ronnie Fuiava
211 Main Street
San Francisco, CA 94105
Tel: (631) 254-7618
Fax: (631) 254-7400

Wells Bank, N.A.               bond holder          US$2,118,000
Attention: Lacey Peterson
733 Marquette Avenue, M.A.C.
N9306-057 5th Floor
Minneapolis, MN 55479
Tel: (612) 316-3447
Fax: (612) 667-1947

Wells, L.L.C.                  bond holder          US$2,073,000
Attention: Margaret Klasen
625 Marquette Avenue,
13th Floor
Minneapolis, MN 55402-2308
Tel: (612) 336-7994
Fax: (612) 336-7814

N.F.S., L.L.C.                 bond holder          US$1,979,000
Attention: Lou Trezza
200 Liberty Street
New York, NY 10281
Tel: (212) 335-5807
Fax: (508) 624-5114

Brown Brothers                 bond holder          US$1,400,000
Attention: Jennifer Payea
525 Washington Boulevard
Jersey City, NJ 07302
Tel: (201) 418-5877

G.S.E. Lining Technology, Inc. trade debt           US$1,368,548
19103 Gundle Road
Houston, TX 77073
Tel: (281) 443-8564
Fax: (281) 230-8663

Superior Yarn Technology       trade debt           US$1,336,178
400 Cross Plains Industrial
Boulevard
Dalton, GA 30719
Tel: (706) 272-7286
Fax: (706) 272-0492

Sterne, A.G.                   bond holder          US$1,316,000
Attention: Maribeth Williams
813 Shades Creek Parkway,
Suite 100-B
Birmingham, AL 35242
Tel: (205) 414-3205
Fax: (205) 414-7237

Wells Fargo                    bond holder          US$1,250,000
Attention: Patrick Giardano
1445 Ross Avenue, 2nd Floor
Dallas, TX 75202
Tel: (214) 740-1573
Fax: (214) 777-4086

Custodial Trustee              bond holder          US$1,094,000
Attention: Dawn Elke
101 Carnegie Center
Princeton, NJ 08540
Tel: (609) 951-2321
Fax: (609) 951-2327

5th-3rd Bank                   bond holder          US$1,000,000
Attention: Lance Wells
5001 Kingsley Drive
Mail Drop 1MOB2D
Cincinnati, OH 45227
Tel: (513) 358-9798
Fax: (513) 358-8637

Citibank                       bond holder           US$905,000
Attention: Carolyn Trebus
3800 Citibank Center B3-12
Tampa, FL 33610
Tel: (813) 604-1130
Fax: (813) 604-1966

Techmer, P.M., L.L.C.                                US$789,276
P.O. Box 535064
Atlanta, GA 30353-5064
Tel: (865) 457-6700
Fax: (865) 457-5227

Fibervisions                   bond holder           US$738,655
Department at 40206
Atlanta, GA 31192-0206
Fax: (770) 784-7137

Naue G.M.B.H. & Co. K.G.                             US$197,226
Gewerbestrasse 2
32339 Espelkamp-Fiestel
Tel: 49 (0) 57 43 / 41-0
Fax: 49 (0) 57 43 / 41-240

Monahan S.F.I., L.L.C.                               US$163,112
P.O. Box 250
Arcola, IL 61910


SUN MICROSYSTEMS: Moody's Ba1 Rating Unmoved by MySQL Deal
----------------------------------------------------------
Moody's Investors Service commented that Sun Microsystems,
Inc.'s Ba1 corporate family and unsecured debt rating with a
stable outlook would not be affected by the company's recent
announcement that it has entered into a definitive agreement to
acquire MySQL AB for approximately US$1 billion.  

MySQL is a privately-held developer of high performance open-
source database software experiencing fast growth in the
US$15 billion relational database management systems market.  
Moody's believes the high purchase price is mitigated by the
strategic nature of the acquisition and long-term growth
opportunities in the RDBMS market, which is growing roughly at
14% per annum.  Having assembled nearly all of the elements for
its web-based platform strategy, the MySQL acquisition is
consistent with Sun's solutions-based operating model of selling
a broader, more integrated comprehensive offering of storage,
servers, software and services based on open architecture
standards.

Sun expects to:

  -- migrate its customers to MySQL's technology to deepen
     existing relationships;

  -- provide MySQL with access to its global infrastructure,
     channels and OEM partnerships to accelerate the growth of
     MySQL's mission critical deployment of applications for
     large-scale customers; and

  -- further exploit the secular shift in computing from
     desktop to web-based platforms through up-sell and cross-
     sell opportunities.

Given MySQL's small relative size, Moody's does not expect it to
be a major contributor to Sun's operating earnings over the near
term.  However, Sun's strong liquidity profile, improved credit
protection measures and enhanced operating profile can absorb an
acquisition of this size.

"This pending transaction reflects Sun's historical penchant to
achieve growth through external means, which is currently
factored into the Ba1 CFR.  Despite potential revenue synergies,
access to new untapped markets and cross-selling opportunities,
Moody's believes that Sun's acquisition strategy poses
challenges for the company to successfully integrate
technologies and operations as the company seeks to expand its
business model into the software space.  Moody's expects Sun
will continue to make selective acquisitions to extend the reach
of its products among software developers and corporate
customers, and strengthen its position as a platform provider
for the Web-based economy", stated Moody's Vice President-Senior
Analyst, Gregory Fraser.

Despite market share growth, improvements in profitability and
margins, and higher levels of free cash flow in Sun's recent
past, the Ba1 rating reflects the company's aggressive
acquisition strategy to grow beyond its core business.  Sun has
stated in its public statements that it intends to be a
consolidator in the IT industry.  The company has had an active
acquisition program to acquire small, emerging technology
companies whose growth is restrained by resources, distribution
and infrastructure that can benefit from Sun's global sales
force and services organization.  The rating is constrained at
Ba1, reflecting the ongoing transition of the company's
operating model away from a direct product sale to a cross-
product selling approach, which blends hardware, software, and
services into a single offering.  Though the solutions based
sales approach focuses on the value proposition of the bundled
sale rather than individual pricing of each component, by
adapting to a strategy of selling lower priced servers in order
to obtain longer term service revenue streams, the company is
likely to witness operating margin pressure on the hardware
component of the overall solution sale, while potentially
generating future higher margin revenue streams.  Moody's is
also concerned about the sustainability of this operating model
given that Sun's market share continues to be eclipsed by
stronger rivals such as IBM and HP.

Moody's expects that if the acquisition is consummated as
proposed, Sun would fund the transaction with approximately
US$800 million in cash and assume US$200 million in MySQL
options.   The company expects the transaction to close in the
third or fourth quarter of Sun's fiscal 2008 subject to
regulatory approvals.  Moody's also expects that following the
closing of the proposed transaction, Sun will maintain moderate
share purchase activity.

Sun's liquidity position is strong, with roughly US$5 billion in
cash and marketable securities.  Balance sheet debt totals
US$1.27 billion, comprised of a US$550 million note maturing in
August 2009, a US$350 million convertible due 2012, a
US$350 million convertible due 2014 and US$21 million in
interest rate swaps.  The company also maintains full access to
US$391 million of uncommitted credit lines.  Moody's notes that
further cash usage for material acquisitions or stock purchases
would likely have a negative impact on the company's liquidity
profile and potential credit rating.

Sun Microsystems, Inc., based in Santa Clara, California, is a
leading worldwide provider of computer network systems and
solutions for enterprise customers.  Revenue and EBITDA for the
12 months ended Sept. 30, 2007, were US$13.9 billion and
US$1.8 billion, respectively.

Sun Microsystems conducts business in 100 countries around the
globe, including Brazil, Argentina, India, Hungary, United
Kingdom, among others.


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

AFFILIATED COMPUTER: Tennessee Medicaid Likely to Award New Deal
----------------------------------------------------------------
Affiliated Computer Services, Inc., announced the Tennessee
Bureau of TennCare's intent to award a new contract for the
TennCare Management Information System.  The proposed contract
has a length of five years and an evaluated total value of
US$156 million, and must be negotiated and executed prior to
Affiliated Computer commencing operations.

The proposed contract calls for Affiliated Computer to assume
responsibility for the current TennCare Management Information
System used by the state for the management of its Medicaid
program.  In addition to the takeover, the company will be
responsible for data management, as well as ongoing systems
modifications and day-to-day operations.  The company currently
supports Medicaid programs in 13 states and the District of
Columbia, in addition to the proposed contract with Tennessee.

Affiliated Computer will also assess current TennCare business
processes and collaboratively work with TennCare in making
business process improvement recommendations.  Additionally, it
will be performing multiple enhancement projects, including the
development of an enterprise Project Management Office and
several other projects that will enable TennCare to leverage
technology in the most effective manner.

"Tennessee has been a leader in Medicaid Managed Care and is
looking to ACS' expertise and innovation to continue to advance
their program and keep TennCare as one of the premier Medicaid
programs in the country," said ACS senior vice president and
managing director, Government Healthcare Solutions, Christopher
T. Deelsnyder.  "In taking over the system, we are committed to
our client's success and to building the enhancements that will
benefit all Tennesseans enrolled in the TennCare program."

TennCare is Tennessee's managed care Medicaid program, serving
1.2 million Tennesseans through a network of contracted, managed
care companies.  The core of its population consists of
Medicaid-eligible people, most of whom are low-income children
and families, pregnant women, disabled people, women needing
treatment for breast or cervical cancer, or persons requiring
care in a nursing facility.

"Using Tennessee's competitive bid process to help ensure
TennCare vendors bring added-value at competitive prices to our
state is a cornerstone of our program's operational success,"
said Bureau of TennCare deputy commissioner, Darin Gordon.
"TennCare looks forward to working with ACS as they assume their
contracted responsibilities for an integral part of our day-to-
day operations."

Affiliated Computer is partnering with Zycron, a Nashville-based
minority-owned information technology staffing and outsourcing
company.  "Zycron is excited to partner with ACS in supporting
the state in meeting TennCare objectives," said Zycron Chief
Executive Officer, Darrell Freeman.  "Zycron's strong presence
in the IT industry coupled with ACS' international profile is
the ideal solution for the state of Tennessee."

              About Affiliated Computer Services

Headquartered in Dallas, Affiliated Computer Services Inc.
(NYSE: ACS) -- http://www.acs-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.

                         *     *     *

Affiliated Computer Services Inc. continues to carry Standard &
Poor's Ratings Services' 'BB' corporate credit rating with a
negative outlook.


PALMER SQUARE: Moody's May Cut Low-B Ratings After Review
---------------------------------------------------------
Moody's Investors Service has taken negative rating action on
US$3.2 billion of notes issued by these four European CDOs:

   -- Sydney Street Finance Limited;
   -- Palmer Square 3 Limited;
   -- New Bond Street CDO 2 Limited; and
   -- Classic I (Netherlands) B.V. - Series 2006-1.

These rating actions are the result of downward credit
migrations in the underlying portfolios, which consist mainly of
U.S. ABS CDOs and U.S. subprime RMBS securities, particularly of
the 2006 and 2007 vintages.  These rating actions also reflect
Moody's outlook for US RMBS and ABS CDOs from these and other
vintages.

The transactions affected by these actions are managed CDOs,
with the underlying portfolios containing between 0% and 27%
subprime RMBS and between 3% and 41% ABS CDOs of the 2005, 2006,
and 2007 vintages.  Many of these assets in the portfolios have
been downgraded, placed on negative watch, or both in recent
weeks.  There are also defaulted ABS CDOs in New Bond Street
CDO 2 and Palmer Square 3.

Moody's will continue to monitor all deals with exposure to U.S.
subprime RMBS and ABS CDOs, and will take further actions in
respect of all CDOs placed on review for downgrade once the
extent of actual downgrades to U.S. RMBS and ABS CDO vintages
becomes known.

These rating actions are:

   * Sydney Street Finance Limited:

   (1) EUR70,000,000 Class A-1 Floating Rate Credit-Linked
       Notes

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (2) EUR66,700,000 Class A-2 Floating Rate Credit-Linked Notes

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (3) EUR60,000,000 Class B Floating Rate Credit-Linked Notes

    -- Current Rating: Aa1, on review for downgrade
    -- Prior Rating: Aa1

   (4) EUR46,700,000 Class C Floating Rate Credit-Linked Notes

    -- Current Rating: Aa2, on review for downgrade
    -- Prior Rating: Aa2

   (5) EUR44,000,000 Class D Floating Rate Credit-Linked Notes

    -- Current Rating: Aa3, on review for downgrade
    -- Prior Rating: Aa3

   (6) EUR26,700,000 Class E Floating Rate Credit-Linked Notes

    -- Current Rating: A2, on review for downgrade
    -- Prior Rating: A2

   (7) EUR21,350,000 Class F Floating Rate Credit-Linked Notes

    -- Current Rating: A3, on review for downgrade
    -- Prior Rating: A3

   (8) EUR21,350,000 Class G Floating Rate Credit-Linked Notes

    -- Current Rating: Baa2, on review for downgrade
    -- Prior Rating: Baa2

   (9) EUR20,000,000 Class H Floating Rate Credit-Linked Notes

    -- Current Rating: Ba1, on review for downgrade
    -- Prior Rating: Ba1

   * Palmer Square 3 Limited:

   (1) US$1,000,000,000 Class A1-M Floating Rate Notes due 2052

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (2) US$200,000,000 Class A1-Q Floating Rate Notes due 2052

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (3) US$300,000,000 Class A2 Floating Rate Notes due 2052

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (4) US$300,000,000 Class A3 Floating Rate Notes due 2052

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (5) US$116,000,000 Class A4 Floating Rate Notes due 2052

    -- Current Rating: Ba1, on review for downgrade
    -- Prior Rating: Aaa

   (6) US$39,000,000 Class B Floating Rate Notes due 2052

    -- Current Rating: Ba2, on review for downgrade
    -- Prior Rating: Aa2

   (7) US$18,000,000 Class C Deferrable Floating Rate Notes due
       2052

    -- Current Rating: Ba3, on review for downgrade
    -- Prior Rating: A2

   (8) US$17,000,000 Class D Deferrable Floating Rate Notes due
       2052

    -- Current Rating: B3, on review for downgrade
    -- Prior Rating: Baa2

   * New Bond Street CDO 2 Limited:

   (1) US$100,000,000 Class A Floating Rate Notes due 2067

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (2) US$40,000,000 Class B Floating Rate Notes due 2067

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (3) US$25,000,000 Class C Deferrable Floating Rate Notes due
       2067

    -- Current Rating: Aa2, on review for downgrade
    -- Prior Rating: Aa2

   (4) US$20,000,000 Class D Deferrable Floating Rate Notes due
       2067

    -- Current Rating: Ba3, on review for downgrade
    -- Prior Rating: A2

   (5) US$15,000,000 Class E Deferrable Floating Rate Notes due  
       2067

    -- Current Rating: B3, on review for downgrade
    -- Prior Rating: Baa3

   * Classic I (Netherlands) B.V. - Series 2006-1:

   (1) US$443,529,000 Class A1 Secured Notes due October 2053

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (2) US$49,281,000 Class A2 Secured Notes due October 2053

    -- Current Rating: Baa2, on review for downgrade
    -- Prior Rating: Baa2


NEW BOND: Moody's May Cut Low-B Ratings After Review
----------------------------------------------------
Moody's Investors Service has taken negative rating action on
US$3.2 billion of notes issued by these four European CDOs:

   -- Sydney Street Finance Limited;
   -- Palmer Square 3 Limited;
   -- New Bond Street CDO 2 Limited; and
   -- Classic I (Netherlands) B.V. - Series 2006-1.

These rating actions are the result of downward credit
migrations in the underlying portfolios, which consist mainly of
U.S. ABS CDOs and U.S. subprime RMBS securities, particularly of
the 2006 and 2007 vintages.  These rating actions also reflect
Moody's outlook for U.S. RMBS and ABS CDOs from these and other
vintages.

The transactions affected by these actions are managed CDOs,
with the underlying portfolios containing between 0% and 27%
subprime RMBS and between 3% and 41% ABS CDOs of the 2005, 2006,
and 2007 vintages.  Many of these assets in the portfolios have
been downgraded, placed on negative watch, or both in recent
weeks.  There are also defaulted ABS CDOs in New Bond Street
CDO 2 and Palmer Square 3.

Moody's will continue to monitor all deals with exposure to U.S.
subprime RMBS and ABS CDOs, and will take further actions in
respect of all CDOs placed on review for downgrade once the
extent of actual downgrades to U.S. RMBS and ABS CDO vintages
becomes known.

These rating actions are:

   * Sydney Street Finance Limited:

   (1) EUR70,000,000 Class A-1 Floating Rate Credit-Linked
       Notes

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (2) EUR66,700,000 Class A-2 Floating Rate Credit-Linked Notes

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (3) EUR60,000,000 Class B Floating Rate Credit-Linked Notes

    -- Current Rating: Aa1, on review for downgrade
    -- Prior Rating: Aa1

   (4) EUR46,700,000 Class C Floating Rate Credit-Linked Notes

    -- Current Rating: Aa2, on review for downgrade
    -- Prior Rating: Aa2

   (5) EUR44,000,000 Class D Floating Rate Credit-Linked Notes

    -- Current Rating: Aa3, on review for downgrade
    -- Prior Rating: Aa3

   (6) EUR26,700,000 Class E Floating Rate Credit-Linked Notes

    -- Current Rating: A2, on review for downgrade
    -- Prior Rating: A2

   (7) EUR21,350,000 Class F Floating Rate Credit-Linked Notes

    -- Current Rating: A3, on review for downgrade
    -- Prior Rating: A3

   (8) EUR21,350,000 Class G Floating Rate Credit-Linked Notes

    -- Current Rating: Baa2, on review for downgrade
    -- Prior Rating: Baa2

   (9) EUR20,000,000 Class H Floating Rate Credit-Linked Notes

    -- Current Rating: Ba1, on review for downgrade
    -- Prior Rating: Ba1

   * Palmer Square 3 Limited:

   (1) US$1,000,000,000 Class A1-M Floating Rate Notes due 2052

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (2) US$200,000,000 Class A1-Q Floating Rate Notes due 2052

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (3) US$300,000,000 Class A2 Floating Rate Notes due 2052

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (4) US$300,000,000 Class A3 Floating Rate Notes due 2052

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (5) US$116,000,000 Class A4 Floating Rate Notes due 2052

    -- Current Rating: Ba1, on review for downgrade
    -- Prior Rating: Aaa

   (6) US$39,000,000 Class B Floating Rate Notes due 2052

    -- Current Rating: Ba2, on review for downgrade
    -- Prior Rating: Aa2

   (7) US$18,000,000 Class C Deferrable Floating Rate Notes due
       2052

    -- Current Rating: Ba3, on review for downgrade
    -- Prior Rating: A2

   (8) US$17,000,000 Class D Deferrable Floating Rate Notes due
       2052

    -- Current Rating: B3, on review for downgrade
    -- Prior Rating: Baa2

   * New Bond Street CDO 2 Limited:

   (1) US$100,000,000 Class A Floating Rate Notes due 2067

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (2) US$40,000,000 Class B Floating Rate Notes due 2067

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (3) US$25,000,000 Class C Deferrable Floating Rate Notes due
       2067

    -- Current Rating: Aa2, on review for downgrade
    -- Prior Rating: Aa2

   (4) US$20,000,000 Class D Deferrable Floating Rate Notes due
       2067

    -- Current Rating: Ba3, on review for downgrade
    -- Prior Rating: A2

   (5) US$15,000,000 Class E Deferrable Floating Rate Notes due  
       2067

    -- Current Rating: B3, on review for downgrade
    -- Prior Rating: Baa3

   * Classic I (Netherlands) B.V. - Series 2006-1:

   (1) US$443,529,000 Class A1 Secured Notes due October 2053

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (2) US$49,281,000 Class A2 Secured Notes due October 2053

    -- Current Rating: Baa2, on review for downgrade
    -- Prior Rating: Baa2


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


GOODYEAR TIRE: Holders Can Convert 4% Sr. Notes Until March 31
--------------------------------------------------------------
The Goodyear Tire & Rubber Company's 4% Convertible Senior Notes
due June 15, 2034 are now convertible at the option of the
holders and will remain convertible through March 31, 2008, the
last business day of the current fiscal quarter.

The notes became convertible because the last reported sale
price of the company's common stock for at least 20 trading days
during the 30 consecutive trading-day period ending on Jan. 16,
2008, (the 11th trading day of the current fiscal quarter), was
greater than 120% of the conversion price in effect on such day.  
The notes have been convertible in previous fiscal quarters.

The company will deliver shares of its common stock or pay cash
upon conversion of any notes surrendered on or prior to
March 31, 2008.  If shares are delivered, cash will be paid in
lieu of fractional shares only.  Issued in July 2004, the notes
are currently convertible at a rate of 83.0703 shares of common
stock per US$1,000 principal amount of notes, which is equal to
a conversion price of US$12.04 per share.

During the fourth quarter of 2007, Goodyear completed an
exchange offer for outstanding notes for a cash payment and
shares of common stock.  As a result, less than US$4 million in
aggregate principal amount of notes remain outstanding.  If all
outstanding notes are surrendered for conversion, the aggregate
number of shares of common stock issued would be approximately
0.3 million.

The notes could be convertible after March 31, 2008, if the sale
price condition described above is met in any future fiscal
quarter or if any of the other conditions to conversion set
forth in the indenture governing the notes are met.

                       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+'.  The ratings still apply to
date.


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


GOLDEN CAPITAL: Proof of Claim Deadline Slated for February 20
--------------------------------------------------------------  
The Specialized Inter-Regional Economic Court of Almaty has
declared LLP Golden Capital insolvent.

Creditors have until Feb. 20, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Almaty
         Timiryazev Str. 61-2
         Almaty
         Kazakhstan
         Tel: 8 (3272) 75-67-84


GOLDEN HOLDING: Creditors Must File Claims by February 20
---------------------------------------------------------  
The Specialized Inter-Regional Economic Court of Almaty has
declared LLP Golden Holding Group insolvent.

Creditors have until Feb. 20, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Almaty
         Timiryazev Str. 61-2
         Almaty
         Kazakhstan
         Tel: 8 (3272) 75-67-84


KANAKAZ OIL: Claims Filing Period Ends February 20
--------------------------------------------------  
LLP Kanakaz Oil Services Company has declared insolvency.  
Creditors have until Feb. 20, 2008, to submit written proofs of
claims to:

         LLP Kanakaz Oil Services Company
         Maresyev Str. 80/2-35
         Aktobe
         Aktube
         Kazakhstan


KOMPANIYA DOLEVOGO: Creditors' Claims Due on February 20
--------------------------------------------------------  
LLP Construction Company Kompaniya Dolevogo Stroilelstva has
declared insolvency.

Creditors have until Feb. 20, 2008, to submit written proofs of
claims to:

         LLP Construction Company
         Kompaniya Dolevogo Stroilelstva
         Micro District 11, 39-14
         Aktobe
         Aktube
         Kazakhstan


PHOENIX SECURITY: Claims Registration Ends February 20
------------------------------------------------------   
LLP Phoenix Security has declared insolvency.  Creditors have
until Feb. 20, 2008, to submit written proofs of claims to:

         LLP Phoenix Security
         Office One
         Micro District Samal-2, 16v
         Almaty
         Kazakhstan


TANDEM TRANSLATIONS: Creditors Must File Claims by February 20
--------------------------------------------------------------  
LLP Tandem Translations has declared insolvency.  Creditors have
until Feb. 20, 2008, to submit written proofs of claims to:

         LLP Tandem Translations
         Micro District Orbita-4, 36-11
         Almaty
         Kazakhstan


TEFFIS LLP: Claims Filing Period Ends February 20
-------------------------------------------------  
The Specialized Inter-Regional Economic Court of Karaganda has
declared LLP Teffis insolvent.

Creditors have until Feb. 20, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Karaganda
         Jambyl Str. 9
         Karaganda
         Kazakhstan


UJNOYE ENERGO: Creditors' Claims Due on February 20
---------------------------------------------------  
LLP Ujnoye Energo Remont has declared insolvency.  Creditors
have until Feb. 14, 2008, to submit written proofs of claims to:

         LLP Ujnoye Energo Remont
         Office 218
         Beibitshilik Str. 18
         Astana
         Kazakhstan
         Tel: 8 (3172) 91-00-65


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


INTERPHARM LLC: Creditors Must File Claims by February 8
--------------------------------------------------------
LLC Interpharm has declared insolvency.  Creditors have until
Feb. 8, 2008, to submit written proofs of claim to:

         LLC Interpharm
         Umetaliyev Str. 86
         Bishkek
         Kyrgyzstan
         Tel: (+996 312) 64-07-19


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


SYNIVERSE TECH: Discloses 2007 Full Year Preliminary Results
------------------------------------------------------------
Syniverse Technologies Inc. reported its preliminary results for
the year ended Dec. 31, 2007.  Based on current unaudited
information, Syniverse currently expects to report:

  * Net revenues of between US$369 million - US$371 million,
    compared to net revenues of US$328.9 million for 2006.

  * Adjusted EBITDA of between US$154 million - US$156 million,
    compared to Adjusted EBITDA of US$127.7 million in 2006.

  * Cash Net Income, a non-GAAP measure of profitability, of
    between US$74 million - US$75.3 million, compared to cash
    net income of US$57.3 million in 2006.

Syniverse expected its results to show continued strong growth
in technology interoperability, driven by continued growth in
data-related products as well as roaming and clearing services.  
Gross margins and Adjusted EBITDA margins are both expected to
increase, reflecting growing revenues together with continued
cost management.  Syniverse's recent acquisition of BSG
Wireless was not included in its operating results during 2007,
but will be included in its balance sheet.

"2007 was a strong year for Syniverse," said Tony Holcombe,
President and CEO of Syniverse.  "This is a result of continued
strong data results and Syniverse's ongoing global expansion.  
Our recent acquisition of BSG Wireless enhances our global
presence while providing significant efficiency savings and an
important financial clearinghouse service."

                         Outlook

The company is providing these outlooks for 2008:

     Net Revenues          US$425 million - US$440 million
     Adjusted EBITDA       US$190 million - US$200 million
     Cash Net Income       US$85 million - US$90 million

Additionally, the company expects to generate operating free
cash flow in excess of US$100 million in 2008.

Syniverse has not yet finalized its financial statement close
process for the year ended Dec. 31, 2007.  As it completes this
process, Syniverse may identify items that would require the
company to make adjustments to its preliminary operating
results.  Additionally, the financial information in this press
release is not a comprehensive statement of our financial
results for the year ended Dec. 31, 2007, and should therefore
be considered together with our full results of operations when
published.

                       About Syniverse

Syniverse Technologies Inc. in Tampa, Florida (NYSE: SVR)
-- http://www.syniverse.com/-- provides technology services for
wireless telecommunications companies.  Its integrated suite of
services include technology interoperability services, which
enable the invoicing and settlement of domestic and
international wireless roaming telephone calls and wireless data
events; SMS and MMS routing and translation services between
carriers; and interactive video and mobile broadband solutions,
prepaid applications, and roaming services.  Celebrating its
20th anniversary in 2007, Syniverse has offices in major cities
around the globe.  Syniverse is ISO 9001:2000 certified and TL
9000 approved, adhering to the principles of customer focus and
quality improvement practices.  The company has offices in the
Netherlands, Brazil and China.

                         *     *     *

Standard & Poor's Ratings Services affirmed its 'BB-' corporate
credit rating, along with its stable outlook, and its 'B' senior
subordinated debt rating on Syniverse Technologies Inc on June
2007.  At the same time, Standard & Poor's assigned its 'BB'
bank loan rating and '2' recovery rating to Syniverse's proposed
US$489 million senior secured bank facility.


X5 RETAIL: Shareholders Okay Evgeny Kornilov as Finance Chief
-------------------------------------------------------------
The Extraordinary General Meeting of Shareholders of X5 Retail
Group N.V. has confirmed the appointment of Evgeny Kornilov as
X5 Retail Group Director A and Chief Financial Officer with
effect per the date of the EGM for a period of four years.

Evgeny Kornilov was appointed Deputy CFO of X5 in 2007, a year
after he joined the Group in August 2006 as CFO of Perekrestok.

As Deputy CFO of the Group, his responsibilities have included
Financial Planning and Reporting. Evgeny was born in 1969 in
Kazan.  He graduated from the Moscow Foreign Affairs University
with a degree in Economics, International Trade and Foreign
Languages.  Prior to joining X5, Evgeny worked as CFO of SUN
Interbrew in Russia.

In 1992-1999 he worked in Management Consultancy and Audit
Services of PriceWaterhouseCoopers, Russia.  

                         About X5 Retail

Headquartered in the Netherlands, X5 Retail Group N.V. --
http://www.x5.ru/en/-- operates a large store network largely
covering the Moscow region and St. Petersburg but also has a
good presence in other Russian regions through its franchise
operations.  The company has recently acquired two of its
successful regional franchise operations -- in Yekaterinburg and
Chelyabinsk.

                          *     *     *

As of Nov. 12, 2007, X5 Retail Group N.V. carries a B1 Corporate
Family Rating from Moody's Investors Service.  Moody's said the
outlook is positive.

X5 Retail and its subsidiaries also carries a 'BB-' long-term
corporate credit rating from Standard & Poor's Ratings Services.
S&P said the outlook is stable.


===========
N O R W A Y
===========


CLEAR CHANNEL: Extends Key Dates for Senior Notes Tender Offer
--------------------------------------------------------------
Clear Channel Communications Inc. has extended these dates, in
connection with its tender offer for its outstanding 7.65%
Senior Notes due 2010 (CUSIP No. 184502AK8), and Clear Channel's
subsidiary AMFM Operating Inc.'s tender offer for its
outstanding 8% Senior Notes due 2008 (CUSIP No. 158916AL0):

   -- the date on which the pricing for the Notes will be
      established from 2:00 p.m. New York City time on Jan. 14,
      2008, to 2:00 p.m. New York City time on Feb. 15, 2008;

   -- the date on which the tender offers are scheduled to
      expire from 8:00 a.m. New York City time on Jan. 16,
      2008, to 8:00 a.m. New York City time on Feb. 20, 2008;
      and

   -- the consent payment deadline for the Notes from 8:00 a.m.
      New York City time on Jan. 16, 2008, to 8:00 a.m. New
      York City time on Feb. 20, 2008.

Each of the price determination date, the offer expiration date
and the consent payment deadline is subject to extension by
Clear Channel, with respect to the CCU Notes, and AMFM, with
respect to the AMFM Notes, in their sole discretion.

Clear Channel disclosed on Jan. 2, 2008, that it had received,
pursuant to its tender offer and consent solicitation for the
CCU Notes, the requisite consents to adopt the proposed
amendments to the CCU Notes and the indenture governing the CCU
Notes applicable to the CCU Notes, and that AMFM had received,
pursuant to its tender offer and consent solicitation for the
AMFM Notes, the requisite consents to adopt the proposed
amendments to the AMFM Notes and the indenture governing the
AMFM Notes.

The Clear Channel tender offer and consent solicitation were
made pursuant to the terms and conditions set forth in the Clear
Channel Offer to Purchase and Consent Solicitation Statement for
the CCU Notes dated Dec. 17, 2007, and the related Letter of
Transmittal and Consent.

Clear Channel has retained Citi to act as the lead dealer
manager for the tender offers and lead solicitation agent for
the consent solicitations and Deutsche Bank Securities Inc. and
Morgan Stanley & Co. Incorporated to act as co-dealer managers
for the tender offers and co-solicitation agents for the consent
solicitations.  Questions regarding the transaction should be
directed to Citi at (800) 558-3745 (toll-free) or (212) 723-6106
(collect).

Global Bondholder Services Corporation is the Information Agent
for the tender offers and the consent solicitations.  Requests
for documentation should be directed to Global Bondholder
Services Corporation at (212) 430-3774 (for banks and brokers
only) or (866) 924-2200 (for all others toll-free).

The tender offers and consent solicitations for the Notes are
being made in connection with the merger with BT Triple Crown
Merger Co. Inc.  The completion of the merger and the related
debt financings are not subject to, or conditioned upon, the
completion of the tender offers or the related consent
solicitations or the adoption of the proposed amendments with
respect to the Notes.

The closing of the merger is expected to occur during the first
quarter 2008 and concurrently with the consummation of the
merger, Clear Channel expects to obtain US$18.525 billion of new
senior secured credit facilities, to be available to Clear
Channel and certain of its subsidiaries as borrowers, and to
issue US$2.6 billion of new senior unsecured notes.

Clear Channel and one or more of its subsidiaries would also be
the borrowers under a separate receivables-backed revolving
credit facility with availability of up to US$1 billion.  The
closing of the merger is subject to the receipt of regulatory
approvals and conditions.

                About Clear Channel Communications

Based in San Antonio, Texas, Clear Channel Communications Inc.
(NYSE:CCU) -- http://www.clearchannel.com/-- is a media
and entertainment company specializing in "gone from home"
entertainment and information services for local communities and
premiere opportunities for advertisers.  The company's
businesses include radio, television and outdoor displays.
Outside U.S., the company operates in 11 countries -- Norway,
Denmark, the United Kingdom, Singapore, China, the Czech
Republic, Switzerland, the Netherlands, Australia, Mexico and
New Zealand.

                          *     *     *

In December 2007, Moody's Investors Service said that it will
likely downgrade Clear Channel Communications Inc.'s Corporate
Family Rating to B2 when its change of control is completed.  
The company, on Dec. 17, 2007, disclosed a tender offer and
consent solicitation for its outstanding 7.65% senior notes due
2010 and its subsidiary, AMFM Operating Inc. announced a tender
offer and consent solicitation for its 8% senior notes due 2008.


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


ELEKTRIM SA: Withdraws Shares from Trading on WSE
-------------------------------------------------
Shares of Elektrim S.A. ceased from trading on the Warsaw Stock
Exchange on Jan. 21, 2008, following WSE operator Gielda
Papierow Wartosciowych's decision, the Financial Times Ltd.
reports, citing Polish News Bulletin.

As reported in the Troubled Company Reporter - Europe, Elektrim
does not need to return to WSE as it only has less than 15% of
its equity in public hands, following share buyback.

The trading in Elektrim's shares was suspended on January 11.

According to the report, Elektrim is one of the first companies
to be listed on the Warsaw bourse, and among the most liquid
ones.

As reported in the Troubled Company Reporter - Europe on Nov. 9,
2007, WSE approved the company's second request to have its
shares delisted from the market.  WSE said that it was of vital
interest to the company that its shares will not be traded while
in bankruptcy.  The company filed for bankruptcy protection in a
court in Warsaw on Aug. 10, 2007, after its second debt
restructuring talks with bondholders failed.

According to FT, WSE also requested that the company renew
efforts to be listed again if investors hold more than 15
percent of Elektrim's stake.  Although PAI Media offered a bid
for the shares and bought almost all publicly traded shares,
Vivendi and Maciej Niebrzydowski refused to sell their stakes.

                      About Elektrim S.A.

Headquartered in Warsaw, Poland, Elektrim S.A. --
http://www.elektrim.pl/-- engages in the power and
telecommunication businesses.  In addition to its core business
activities, Elektrim also manufactures sells cables, and
provides data transmission services.


===============
P O R T U G A L
===============


ACXIOM CORPORATION: Names John Meyer as CEO and President
---------------------------------------------------------
Acxiom(R) Corporation's Board of Directors has named John Meyer
to serve as the company's chief executive officer and president.

Mr. Meyer, 51, has been president of the Global Services group
of Alcatel-Lucent since 2003.  Prior to joining Lucent, Mr.
Meyer spent almost 20 years in a number of high-profile
positions at EDS that included Chairman of the Europe, Middle
East and Africa Operating Team, President of Diversified
Financial Services and Credit Services Divisions, and CIO for
the company's GMAC business.  Mr. Meyer's global, multi-industry
experience at EDS was marked by numerous successes, including
doubling revenue in EMEA from US$3.6 billion to US$7.2 billion
in four years. Before entering the business world, Mr. Meyer
served as a flight commander and was selected as a captain in
the U.S. Air Force.

Michael Durham, Acxiom's non-executive chairman, said the board
unanimously selected Meyer because of his demonstrated strong
leadership skills, his broad experience in the information
technology industry and his history of success in building
shareholder value.

"Since October, the board has been focused on the search for a
new leader in its efforts to return Acxiom to sustained
success," Mr. Durham said.  "John commanded our attention
because of his strong execution skills, his ability to lead
high-performing teams and his track record in driving
shareholder value.  He has demonstrated these skills at both
Alcatel-Lucent and EDS as he ran businesses that are
substantially larger and more complex than Acxiom.  As we
learned more about John, we were equally impressed by his focus
on developing internal talent while reaching outside for new
skills.  His straightforward style and integrity impressed us as
it has his employees, clients and investors in his previous
roles.  John's track record has established him as one of the
most accomplished services leaders in the technology industry."

Mr. Meyer said that "Acxiom's position as the leading provider
of offline and online marketing services is the envy of the
market.  Acxiom's proud history of innovation and delivery
excellence has created value for its clients for decades.  It is
an honor to join the company and do all I can to build on its
successes.  I look forward to working with our associates to
create value for our clients and shareholders."

Mr. Meyer will join Acxiom on February 4.  He also will serve as
a member of Acxiom's board of directors.  He succeeds Charles
Morgan, a 35-year company veteran who has been Chairman and
Chief Executive Officer since 1975.  Morgan, who announced his
retirement in October, will remain a consultant to the company
through 2010.

"John's go-to-market, operational and technology skills in
leading a large services business are impressive," Mr. Morgan
said.  "I leave Acxiom in the capable hands of a leader who has
a strong client focus and will continue to bring out the best in
the teams he leads."

Mr. Meyer, his wife Victoria and their three children live in
Dallas, Texas and will be moving to Little Rock, Acxiom's
headquarters, as soon as practical.

Headquartered in Little Rock, Arkansas, Acxiom Corporation,
(Nasdaq: ACXM) -- http://www.acxiom.com/-- designs, builds and  
manages marketing solutions across offline and online channels
for many of the largest, most respected companies in the world.
The core components of Acxiom's services include data
integration technology, data and analytics products, database
services, IT outsourcing, consulting and campaign management
software.  Founded in 1969, Acxiom has locations in the United
States, Poland, Portugal, United Kingdom, Netherlands,
Australia, China and Canada.

                          *     *     *

As reported in the Troubled Company Reporter - Europe on
Dec. 17, 2007, Moody's Investors Service confirmed Acxiom's Ba2
corporate family rating and assigned a negative rating outlook,
concluding a review for possible downgrade initiated on May 17,
2007, following the company's announcement that it had entered
into a definitive agreement to be acquired by Silver Lake and
ValueAct Capital for US$3 billion.


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


GOLDEN TELECOM: Vimpelcom Commences Offer to Acquire Shares
-----------------------------------------------------------
Lillian Acquisition Inc., a unit of OJSC Vimpel-Communications,
has commenced a cash tender offer for 100% of the outstanding
shares of common stock of Golden Telecom, Inc. under the
announced merger agreement between Lillian Acquisition,
VimpelCom Finance B.V. and Golden Telecom.

The offer and withdrawal rights are scheduled to expire at
12:00 midnight, New York City time on Friday, Feb. 15, 2008,
unless the offer is extended by Lillian Acquisition.

The complete terms, conditions and other details of the tender
offer are set out in the Offer to Purchase, were filed on
Jan. 18, 2008, with the U.S. Securities and Exchange Commission
and mailed to stockholders of record of Golden Telecom.

                        About VimpelCom

Headquartered in Moscow, Russia, OJSC Vimpel-Communications
(NYSE: VIP) -- http://www.vimpelcom.com/-- provides mobile
telecommunications services in Russia and Kazakhstan with newly
acquired operations in Ukraine, Tajikistan and Uzbekistan.  The
Company operates under the 'Beeline' brand in Russia and
Kazakhstan.  In addition, VimpelCom is continuing to use 'K-
mobile' and 'EXCESS' brands in Kazakhstan.  The group wholly
owns Mobitel in Georgia.

                      About Golden Telecom

Headquartered in Moscow, Russia, Golden Telecom Inc. --
http://www.goldentelecom.com/-- provides integrated
telecommunications and Internet services in major population
centers throughout Russia and other countries of the
Commonwealth of Independent States.  The Company offers voice,
data and Internet services to corporations, operators and
consumers using its overlay network in major cities including
Moscow, Kiev, St. Petersburg, Nizhniy Novgorod, Samara,
Kaliningrad, Krasnoyarsk, Alma-Ata, and Tashkent, and via
intercity fiber optic and satellite-based networks, including
around 287 combined access points in Russia and other countries
of the CIS.  The Company offers cellular communication services
in Kiev and Odessa, Ukraine.

                          *     *     *

As of Dec. 3, 2007, Golden Telecom carries a Ba3 Corporate
Family, Probability-of-Default and Senior Unsecured Debt Ratings
from Moody's Investors Service.  Moody's said the outlook is
stable.

The company also carries a BB long-term corporate credit rating
from Standard & Poor's Ratings Services.  S&P said the outlook
is stable.


SISTEMA JSFC: Raises Stake in Shyam Telelink to 51%
---------------------------------------------------
Sistema JSFC disclosed on Jan. 18, 2008, that it increased its
stake in Shyam Telelink Ltd. from 10% to 51%.  The additional
shares were acquired for a total cash consideration of
US$46.7 million.

Sistema acquired a 10% stake in Shyam Telelink for a total cash
consideration of US$11.4 million at the end of September 2007.
In October 2007, Sistema signed a share purchase agreement for
the acquisition of an additional 41% stake in Shyam Telelink and
a call option agreement, which gives Sistema the right to
increase its stake in Shyam Telelink from 51% up to a maximum of
74%.

In December 2007, Sistema received an approval for the
acquisition of the blocking stake in Shyam Telelink from the
Foreign Investment Promotion Board of India.  As a result of the
acquisition of the additional 41% stake, the overall purchase
price totaled US$58.1 million.

"The acquisition of control over Shyam Telelink is in line with
Sistema's strategy to enter new perspective markets.  We are
pleased to have the opportunity to invest in one of the most
dynamically developing world markets.  Our goal is to create an
operator with advanced technologies which is able to meet the
growing demand for the majority of telecommunications services,"
Alexander Goncharuk, Sistema president and CEO commented.

                          About Sistema

Sistema JSFC (LSE: SSA) -- http://www.sistema.com/-- is the
largest private sector consumer services company in Russia and
the CIS, with over 65 million customers.  Sistema develops and
manages market-leading businesses in selected service-based
industries, including telecommunications, technology, insurance,
banking, real estate, retail and media.  Founded in 1993,
Sistema's shares are listed under the symbol 'SSA' on the London
Stock Exchange, under the symbol 'AFKS' on the Russian Trading
System (RTS), and under the symbol 'SIST' on the Moscow Stock
Exchange (MSE).

                         *     *     *

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

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

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


TATNEFT OIL: Expects EUR64 Billion Pretax Profit in 2007
--------------------------------------------------------
OAO Tatneft expects to post RUR64 billion in pretax profit on
RUR200 billion in net revenues for full year 2007, RIA Novosti
reports.

Tatneft said RUR21 billion of its net profit would be fused to
the consolidated budget of the Republic of Tatarstan     

Tatneft CEO Sh. F. Takhautdinov, meanwhile, disclosed that its
crude oil output increased from 25.3 million metric tons in 2006
to 25.7 million metric tons in 2007,

Tatneft CEO Sh. F. Takhautdinov said the result was its highest
oil production level since 1993.

                         About Tatneft

Headquartered in Tatartan, Russia, OAO Tatneft --
http://www.tatneft.ru/eng/-- explores for, produces, refines    
and markets crude oil.  The company operates a chain of retain
gasoline filling stations and exports some of its petrochemical
products to former Soviet Union countries and Europe.

                          *     *     *

As of Nov. 5, 2007, Tatneft carries Fitch's B+ Issuer Default
rating.  Its Short-Term rating stands at B.  Fitch said the
outlook is positive.


VIMPEL-COMMUNICATIONS: Commences Offer to Acquire Golden Telecom
---------------------------------------------------------------
Lillian Acquisition Inc., a unit of OJSC Vimpel-Communications,
has commenced a cash tender offer for 100% of the outstanding
shares of common stock of Golden Telecom, Inc. under the
announced merger agreement between Lillian Acquisition,
VimpelCom Finance B.V. and Golden Telecom.

The offer and withdrawal rights are scheduled to expire at
12:00 midnight, New York City time on Friday, Feb. 15, 2008,
unless the offer is extended by Lillian Acquisition.

The complete terms, conditions and other details of the tender
offer are set out in the Offer to Purchase, were filed on
Jan. 18, 2008, with the U.S. Securities and Exchange Commission
and mailed to stockholders of record of Golden Telecom.

                      About Golden Telecom

Headquartered in Moscow, Russia, Golden Telecom Inc. --
http://www.goldentelecom.com/-- provides integrated
telecommunications and Internet services in major population
centers throughout Russia and other countries of the
Commonwealth of Independent States.  The Company offers voice,
data and Internet services to corporations, operators and
consumers using its overlay network in major cities including
Moscow, Kiev, St. Petersburg, Nizhniy Novgorod, Samara,
Kaliningrad, Krasnoyarsk, Alma-Ata, and Tashkent, and via
intercity fiber optic and satellite-based networks, including
around 287 combined access points in Russia and other countries
of the CIS.  The Company offers cellular communication services
in Kiev and Odessa, Ukraine.

                         About VimpelCom

Headquartered in Moscow, Russia, OJSC Vimpel-Communications
(NYSE: VIP) -- http://www.vimpelcom.com/-- provides mobile
telecommunications services in Russia and Kazakhstan with newly
acquired operations in Ukraine, Tajikistan and Uzbekistan.  The
Company operates under the 'Beeline' brand in Russia and
Kazakhstan.  In addition, VimpelCom is continuing to use 'K-
mobile' and 'EXCESS' brands in Kazakhstan.  The group wholly
owns Mobitel in Georgia.

                          *     *     *

As of Oct. 8, 2007, OJSC Vimpel-Communication carries Ba2
Corporate Family, Probability-of-Default and Senior Unsecured
Debt Ratings from Moody's Investors Service.

The company also carries BB+ long-term corporate credit rating
from Standard & Poor's Ratings Services.


X5 RETAIL: Shareholders Okay Evgeny Kornilov as Finance Chief
-------------------------------------------------------------
The Extraordinary General Meeting of Shareholders of X5 Retail
Group N.V. has confirmed tha the appointment of Evgeny Kornilov
as X5 Retail Group Director A and Chief Financial Officer with
effect per the date of the EGM for a period of four years.

Evgeny Kornilov was appointed Deputy CFO of X5 in 2007, a year
after he joined the Group in August 2006 as CFO of Perekrestok.

As Deputy CFO of the Group, his responsibilities have included
Financial Planning and Reporting. Evgeny was born in 1969 in
Kazan.  He graduated from the Moscow Foreign Affairs University
with a degree in Economics, International Trade and Foreign
Languages.  Prior to joining X5, Evgeny worked as CFO of SUN
Interbrew in Russia.

In 1992-1999 he worked in Management Consultancy and Audit
Services of PriceWaterhouseCoopers, Russia.  

                         About X5 Retail

Headquartered in the Netherlands, X5 Retail Group N.V. --
http://www.x5.ru/en/-- operates a large store network largely
covering the Moscow region and St. Petersburg but also has a
good presence in other Russian regions through its franchise
operations.  The company has recently acquired two of its
successful regional franchise operations -- in Yekaterinburg and
Chelyabinsk.

                          *     *     *

As of Nov. 12, 2007, X5 Retail Group N.V. carries a B1 Corporate
Family Rating from Moody's Investors Service.  Moody's said the
outlook is positive.

X5 Retail and its subsidiaries also carries a 'BB-' long-term
corporate credit rating from Standard & Poor's Ratings Services.
S&P said the outlook is stable.


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


AVNET INC: Unit Signs Distribution Deal with Taiyo Yuden
--------------------------------------------------------
Avnet Electronics Marketing Americas, a part of Avnet, Inc., has
entered a distribution agreement with TAIYO YUDEN (U.S.A.) INC.
Under the pact, Avnet will distribute TAIYO YUDEN's full line of
ceramic capacitors, filters, inductors, high frequency and
magnetic components in North and South America.

TAIYO YUDEN utilizes industry-leading resources to raise
standards and outcomes in research and development, technology,
production and distribution to offer customers top-flight
solutions worldwide.  "We are very impressed by Avnet's leading
position in the global distribution market and look to leverage
their fulfillment and supply chain expertise to help TAIYO YUDEN
enhance service levels while bringing our cutting edge
technology products to our customer base in the North and South
American markets," said Hisashi Oi, CEO of TAIYO YUDEN (U.S.A.),
INC.  "We are excited about the relationship and feel that
combining TAIYO YUDEN's product technology with Avnet's
logistics services is an ideal way to streamline operations
while focusing more resources on developing new business in the
Americas."

"As one of the largest manufacturers of surface-mount capacitors
and inductive components, TAIYO YUDEN's product portfolio is a
strong complement to Avnet's current offerings," said Pat
Wastal, senior vice president of IP&E for Avnet Electronics
Marketing.  "The agreement will allow us to augment our
historical supply chain solutions and position Avnet and TAIYO
YUDEN as premier logistics support providers for our customers."

              About Avnet Electronics Marketing

Avnet Electronics Marketing -- http://www.em.avnet.com/-- is an
operating group of Phoenix-based Avnet, Inc. (NYSE:AVT), a
Fortune 500 company.  Avnet Electronics Marketing serves
electronic original equipment manufacturers (EOEMs) and
electronic manufacturing services (EMS) providers in 73
countries, distributing electronic components from leading
manufacturers and providing associated design-chain and supply-
chain services.

                       About Avnet Inc.

Headquartered in Phoenix, Arizona, Avnet, Inc. --
http://www.avnet.com/-- distributes electronic components and
computer products, primarily for industrial customers.  It has
operations in the following countries: Australia, Belgium,
China, Germany, Hong Kong, India, Indonesia, Italy, Japan,
Malaysia, New Zealand, Philippines, Singapore, and Sweden,
Brazil, Mexico and Puerto Rico.

                         *     *     *

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


BRIGHTPOINT INC: Taps Bashar Nejdawi as Mobile Enhancement Pres.
----------------------------------------------------------------
Brightpoint Inc. has appointed Bashar Nejdawi as the President
of its newly created Mobile Enhancement business.

"Mr. Nejdawi's appointment is the first step towards the
Company's investment in the exciting high growth Mobile
Enhancement arena.  As the mobile devices become more
sophisticated, the need for mobile enhancements increases
significantly," stated Robert J. Laikin, Brightpoint's Chairman
of the Board and Chief Executive Officer.

"Bashar has developed strong international wireless industry
relationships and deep industry knowledge through his
experiences at Motorola," stated Michael Koehn Milland, Co-Chief
Operating Officer of Brightpoint, Inc. and President Brightpoint
International.  "I look forward to working with Bashar
to leverage that expertise with our existing operations and to
develop new growth opportunities in the mobile enhancement
area."

Prior to his appointment as the President of the Company's
Mobile Enhancement business, Mr. Nejdawi served as Senior
Director of Global Distribution for Motorola.  In this role, he
led a global distributor team responsible for channel
rationalization and optimization, global account
management, alternative channel development, retail online
management tools and pricing and incentives.  His previous
experience includes numerous regional and global positions
within Motorola including Customer Solutions, Product Operations
and Director of Sales.  He has worked in Europe, Middle East,
Africa, India, South East Asia and the United States over his
extensive career.

                    About Brightpoint

Headquartered in Plainfield, Indiana, Brightpoint, Inc. --
http://www.brightpoint.com/-- distributes wireless devices and
accessories, as well as provision of customized logistic
services to the wireless industry.  The company primarily
operates in Australia, Colombia, Finland, Germany, India, New
Zealand, Norway, the Philippines, the Slovak Republic, Sweden,
United Arab Emirates and the United States.  The company's
customers include mobile operators, mobile virtual network
operators, resellers, retailers and wireless equipment
manufacturers.  Brightpoint was incorporated in 1989 under the
name Wholesale Cellular USA, Inc. and changed its name to
Brightpoint Inc. in 1995.

                       *     *     *

Brightpoint, Inc., continues to carry Standard and Poor's BB-
long-term local and foreign issuer credit ratings with a stable
outlook.  These ratings were assigned on April 2006.


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


ADS HOBO: Basel Court Closes Bankruptcy Proceedings
---------------------------------------------------
The Bankruptcy Service of Basel-Stadt entered Dec. 6, 2007, an
order closing the bankruptcy proceedings of JSC ADS HOBO.

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

         Bankruptcy Service of Basel-Stadt
         4051 Basel
         Switzerland

The Debtor can be reached at:

         JSC ADS HOBO
         Hochbergerplatz 1
         4057 Basel
         Switzerland


BIRBET LLC: Basel Court Closes Bankruptcy Proceedings
-----------------------------------------------------
The Bankruptcy Service of Basel-Stadt entered Dec. 6, 2007, an
order closing the bankruptcy proceedings of LLC Birbet.

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 Birbet
         Hochbergerplatz 1
         4057 Basel
         Switzerland


BOUTIQUE ELEGANCE: Aargau Court Starts Bankruptcy Proceedings
-------------------------------------------------------------
The Bankruptcy Service of Aargau commenced bankruptcy
proceedings against LLC Boutique Elegance on Dec. 12, 2007.

The Bankruptcy Service of Aargau can be reached at:

         Bankruptcy Service of Aargau
         Amtsstelle Brugg
         5201 Brugg AG
         Switzerland

The Debtor can be reached at:

         LLC Boutique Elegance
         Neumarkt 1
         5200 Brugg AG
         Switzerland


D + S GASTROBETRIEBE: Bern Court Closes Bankruptcy Proceedings
--------------------------------------------------------------
The Bern-Mittelland Bankruptcy Service entered Dec. 10, 2007, an
order closing the bankruptcy proceedings of LLC D + S
Gastrobetriebe Lowen Oberdiessbach.

The Bern-Mittelland Bankruptcy Service can be reached at:

         Bern-Mittelland Bankruptcy Service
         Amtsstelle Konolfingen
         3082 Schlosswil
         Konolfingen BE
         Switzerland
         
The Debtor can be reached at:

         LLC D + S Gastrobetriebe Lowen Oberdiessbach
         Burgdorfstrasse 5
         3672 Oberdiessbach
         Konolfingen BE
         Switzerland


GASTINO JSC: Lucerne Court Closes Bankruptcy Proceedings
--------------------------------------------------------
The Bankruptcy Service of Sursee in Lucerne entered on
Dec. 11, 2007, an order closing the bankruptcy proceedings of
JSC Gastino.

The Bankruptcy Service of Sursee can be reached at:

         Bankruptcy Service of Sursee
         6018 Buttisholz
         Sursee LU
         Switzerland
         
The Debtor can be reached at:

         JSC Gastino
         Oberstadt 25
         6210 Sursee LU
         Switzerland


HAMBROOK & GREENSTOCK: Thurgau Court Starts Bankruptcy Process
--------------------------------------------------------------
The Bankruptcy Service of Thurgau commenced bankruptcy
proceedings against JSC Hambrook & Greenstock on Nov. 28, 2007.

The Bankruptcy Service of Thurgau can be reached at:

         Bankruptcy Service of Thurgau
         8510 Frauenfeld TG
         Switzerland

The Debtor can be reached at:

         JSC Hambrook & Greenstock
         Zurcherstrasse 138a
         8500 Frauenfeld TG
         Switzerland


INTERCULINAIRE JSC: Creditors Must File Claims by January 31
------------------------------------------------------------
Creditors of JSC Interculinaire have until Jan. 31, 2008, to
submit their claims to:

         JSC Breves Treuhand
         Baarerstrasse 79
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC Interculinaire
         Zug
         Switzerland


K-SYSTEMS LLC: Aargau Court Starts Bankruptcy Proceedings
---------------------------------------------------------
The Bankruptcy Service of Aargau commenced bankruptcy
proceedings against LLC K-Systems on Nov. 21, 2007.

The Bankruptcy Service of Aargau can be reached at:

         Bankruptcy Service of Aargau
         Amtsstelle Oberentfelden
         5036 Oberentfelden
         Aarau AG
         Switzerland

The Debtor can be reached at:

         LLC K-Systems
         Industriestrasse 3
         5702 Niederlenz
         Lenzburg AG
         Switzerland


LASATRON SWISS: Lucerne Court Closes Bankruptcy Proceedings
-----------------------------------------------------------
The Bankruptcy Service of Sursee in Lucerne entered on
Dec. 11, 2007, an order closing the bankruptcy proceedings of
LLC Lasatron Swiss.

The Bankruptcy Service of Sursee can be reached at:

         Bankruptcy Service of Sursee
         6018 Buttisholz
         Sursee LU
         Switzerland
         
The Debtor can be reached at:

         LLC Lasatron Swiss
         Hackenruti
         6110 Wolhusen
         Sursee LU
         Switzerland


MUSEION JSC: Creditors' Liquidation Claims Due by January 31
------------------------------------------------------------
Creditors of JSC Museion have until Jan. 31, 2008, to submit
their claims to:

         JSC Andrey-Treuhand
         Zimmergasse 16
         Mail box: 2066
         8032 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Museion
         Glarus
         Switzerland


OPTELMA PRODUCTION: Lucerne Court Starts Bankruptcy Proceedings
--------------------------------------------------------------
The Emmental-Oberaargau Bankruptcy Service commenced bankruptcy
proceedings against JSC Optelma Production on Dec. 10, 2007.

The Emmental-Oberaargau Bankruptcy Service can be reached at:

         Emmental-Oberaargau Bankruptcy Service
         Amtsstelle Wangen a. A.
         3380 Wangen an der Aare
         Wangen BE
         Switzerland

The Debtor can be reached at:

         JSC Optelma Production
         Gartenstrasse 7
         4537 Wiedlisbach
         Wangen BE
         Switzerland


OTTIGER BAUMANAGEMENT: Thurgau Court Starts Bankruptcy Process
--------------------------------------------------------------
The Bankruptcy Service of Thurgau commenced bankruptcy
proceedings against LLC Ottiger Baumanagement on Nov. 19, 2007.

The Bankruptcy Service of Thurgau can be reached at:

         Bankruptcy Service of Thurgau
         8510 Frauenfeld TG
         Switzerland

The Debtor can be reached at:

         LLC Ottiger Baumanagement
         Hohenweg 9b
         8360 Eschlikon TG
         Switzerland


TECOMAC JSC: Basel Court Closes Bankruptcy Proceedings
------------------------------------------------------
The Bankruptcy Service of Basel-Stadt entered Dec. 3, 2007, an
order closing the bankruptcy proceedings of JSC Tecomac.

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

         Bankruptcy Service of Basel-Stadt
         4051 Basel
         Switzerland
         
The Debtor can be reached at:

         JSC Tecomac
         Gartenstrasse 95
         4052 Basel
         Switzerland


WOHLER IMMOBILIEN: Thurgau Court Starts Bankruptcy Proceedings
--------------------------------------------------------------
The Bankruptcy Service of Thurgau commenced bankruptcy
proceedings against LLC Wohler Immobilien on Nov. 19, 2007.

The Bankruptcy Service of Thurgau can be reached at:

         Bankruptcy Service of Thurgau
         8510 Frauenfeld TG
         Switzerland

The Debtor can be reached at:

         LLC Wohler Immobilien
         Burgstrasse 4
         8505 Dettighofen TG
         Switzerland


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


CAPITAL WELL: Creditors Must File Claims by January 24
------------------------------------------------------
Creditors of OJSC Capital Well Repair (code EDRPOU 05793985)
have until Jan. 24, 2008, to submit written proofs of claim to:

         Vasily Matryniuk
         Liquidator
         South Boulevard Str. 42/9
         Ivano-Frankovsk ]
         Ukraine

The Economic Court of Ivano-Frankovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. B-7/113.

The Debtor can be reached at:

         OJSC Capital Well Repair
         Dolina
         L. Ukrainka Str. 10
         77500 Ivano-Frankovsk
         Ukraine


DRUZHBA COMMON: Creditors Must File Claims by January 24
--------------------------------------------------------
Creditors of Common Agricultural Enterprise Druzhba (code EDRPOU
00706450) have until Jan. 24, 2008, 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-39/185-07.

The Debtor can be reached at:

         Common Agricultural Enterprise Druzhba
         Spodobovka
         Shevchenkovsky District
         Kharkov
         Ukraine


GORLOVKA EXPLORATION: Claims Filing Deadline Set January 24
-----------------------------------------------------------
Creditors of National Joint Stock Company Nadra Ukrainy
Subsidiary Company Gorlovka Exploration (code EDRPOU 01432262)
have until Jan. 24, 2008, to submit written proofs of claim to:

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

The Economic Court of Donetsk commenced bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
27/231B.

The Debtor can be reached at:

         National Joint Stock Company Nadra Ukrainy Subsidiary
         Company Gorlovka Exploration
         Gorlovka
         84632 Donetsk
         Ukraine


KARAKUBSKY OJSC: Creditors Must File Claims by January 24
---------------------------------------------------------
Creditors of Karakubsky OJSC (code EDRPOU 00848606) have until
Jan. 24, 2008, to submit written proofs of claim to:

         Marina Kondratieva
         Liquidator
         Gorky Str. 34
         83086 Donetsk
         Ukraine

The Economic Court of Donetsk commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 5/69b.

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

The Debtor can be reached at:

         Karakubsky OJSC
         Sovetskaya Str. 7
         Razdolnoye
         Starobeshevsky District
         87252 Donetsk
         Ukraine


MILK LTD: Creditors Must File Claims by January 24
--------------------------------------------------
Creditors of LLC Firm Milk Ltd. (code EDRPOU 24130478) have
until Jan. 24, 2008, 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-31/195-07.

The Debtor can be reached at:

         LLC Firm Milk Ltd.
         Kulura Str. 8
         Kharkov
         Ukraine


MOTORCAR ENTERPRISE2: Creditors Must File Claims by January 24
--------------------------------------------------------------
Creditors of OJSC South West Energy Building Trust Subsidiary
Company Motorcar Enterprise2 (code EDRPOU 24658901) have until
Jan. 24, 2008, 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-31/194-07.

The Debtor can be reached at:

         OJSC South West Energy Building Trust Subsidiary
         Company Motorcar Enterprise2
         Bezliudovka
         Kharkov Str. 1
         62622 Kharkov
         Ukraine


POBEDA LLC: Creditors Must File Claims by January 24
----------------------------------------------------
Creditors of LLC Agricultural Enterprise Pobeda (code EDRPOU
33258983) have until Jan. 24, 2008, 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-39/206-07.

The Debtor can be reached at:

         LLC Agricultural Enterprise Pobeda
         Lenin Str. 268
         Bogodukhov
         Kharkov
         Ukraine


RAZDOLNOYEAL AGRICULTURAL: Creditors Must File Claims by Jan. 24
----------------------------------------------------------------
Creditors of OJSC Razdolnoyeal Agricultural Building (code
EDRPOU 01353152) have until Jan. 24, 2008, to submit written
proofs of claim to:

         Pavel Maystrenko
         Liquidator
         Lebedev Str. 15
         Simferopol
         95053 AR Krym
         Ukraine

The Economic Court of AR Krym commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 2-4/4573-2007.

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

The Debtor can be reached at:

         OJSC Razdolnoyeal Agricultural Building
         Razdolnoye
         Evpatoriya Highway 29-A
         96200 AR Krym
         Ukraine


SELESCHINA BREADRECEIVING: Creditors Must File Claims by Jan. 24
----------------------------------------------------------------
Creditors of OJSC Seleschina Breadreceiving Enterprise (code
EDRPOU 00955555) have until Jan. 24, 2008, 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. 18/13.

The Debtor can be reached at:

         OJSC Seleschina Breadreceiving Enterprise
         Lenin Str. 3
         Seleschina
         Mashivsky District
         39430 Poltava
         Ukraine


SHYSHAKI-BUILDING COMPLEX: Claims Filing Deadline Set January 24
----------------------------------------------------------------
Creditors of LLC Shyshaki-Building Complex (code EDRPOU
03581316) have until Jan. 24, 2008, 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 supervision
procedure on the company on Dec. 4, 2007.  The case is docketed
under Case No. 7/57.

The Debtor can be reached at:

         LLC Shyshaki-Building Complex
         Stroiteley Str. 5
         Shyshaki
         Poltava
         Ukraine


SUGAR PRODUCT: Proofs of Claim Filing Deadline Set on January 24
----------------------------------------------------------------
Creditors of LLC Sugar Product (code EDRPOU 30476516) have until
Jan. 24, 2008, to submit written proofs of claim to:

         Valentina Shepotinnik
         Temporary Insolvency Manager
         Dzerzhynsky Str. 64-A
         25006 Kirovograd
         Ukraine

The Economic Court of Cherkassy commenced bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
14/5616.

         The Economic Court of Cherkassy
         Shevchenko Avenue 307
         18005 Cherkassy
         Ukraine

The Debtor can be reached at:

         LLC Sugar Product
         Office 107
         Shevchenko Boulevard 266/1
         18002 Cherkassy
         Ukraine


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


BRITISH ENERGY: Reactor Closure Costs to Reach GBP70 Million
------------------------------------------------------------
British Energy Group plc provided an update on the ongoing work
at its Hartlepool and Heysham 1 power stations.

The company has concluded that remedial engineering work is
required to enable the return to service of all four reactors.

The company has identified a number of engineering modifications
that will be needed to reduce the reliance on the current wire
windings.  These include:

   -- a mechanism to lock in the existing pre-stress in the
      BCUs;

   -- improvements to the structure of the BCUs;

   -- upgrade to BCU cooling systems; and

   -- enhancements to instrumentation to monitor the BCUs while
      in operation.

Return to service requires regulatory approval of the
appropriate safety case for each reactor.  The regulator
continues to be closely involved in the process.

It is currently expected that return to service of the four
units will be achieved in a phased process over the second and
third quarters of financial year 2008/09.

The cost of the remedial engineering work is not expected to
exceed GBP50 million, incurred in financial year 2008/09.  This
is in addition to the costs of inspection and assessment of the
units incurred in financial year 2007/08 of around
GBP20 million.

Action to manage the trading position in line with the estimated
phasing of return to service outlined above continues.  As of
Jan. 13, 2008, the company had fixed price contracts in place
for approximately 58.6TWh for the financial year 2007/08 at an
average contract price of GBP41/MWh (including the impact of
5TWh of contracts, capped at around GBP31/MWh).

In addition, as at Jan. 13, 2008, the company had fixed price
contracts in place for approximately 37.1TWh for the financial
year 2008/09 at an average contract price of GBP42/MWh
(excluding the impact of 5TWh of contracts, capped at around
GBP32/MWh).

The company will provide further details concerning the return
to service of the reactors in its Q3 results announcement on
Feb. 13, 2008.

                     About British Energy

Headquartered in Livingston, Scotland, British Energy Group plc
-- http://www.british-energy.com/-- is the U.K.'s largest
producer of electricity.  With a workforce of about 6,000, it
produces around one-sixth of the nation's electricity.

                        *     *     *

As of Jan. 11, 2008, British Energy Group plc carries a Ba2
long-term corporate family rating from Moody's with a stable
outlook.

Standard & Poor's rates the company's long-term foreign and
local issuer credit at BB*-.

The company holds a BB+ long-term issuer default rating from
Fitch with a stable outlook.


CHRYSLER LLC: Makes Organizational Changes at Mopar
---------------------------------------------------
Chrysler LLC announced Jan. 18, 2008, organizational changes and
appointments in Mopar and Global Alliance Operations.  The
changes will take immediate effect following Christine K.
Cortez' announcement of her intent to retire from her position
as senior vice president at global service and parts.

"Chrysler is grateful to Chris for her 31 years of dedicated
service and many contributions," James E. Press, Chrysler vice
chairman and president said. "She leaves with our most sincere
well wishes."

Simon Boag has been appointed as president at Mopar, Global
Service and Parts, reporting to Mr. Press.  Boag will be
responsible for global service, international service and parts,
global parts marketing, service contracts and global parts
supply chain management.  Boag was recently appointed executive
vice president at global alliance operations.

"As a result of Chris' decision to retire, Simon will
immediately assume this critical new role," Mr. Press disclosed.
"Simon's strong background in manufacturing operations and
procurement is a great fit with the needs of Mopar.  It's
important that he continue our focus on the customer and this
incredibly strong brand."

Scott R. Garberding replaces Boag and has been appointed vice
president - global alliance operations, reporting to Chrysler
vice chairman and president Thomas W. LaSorda.

Mr. Garberding will lead the operations side of Chrysler's
automotive alliances designed to expand the company's global
presence.  He will also work closely with Michael Manley,
executive vice president to international sales, marketing and
business development.  Mr. Garberding most recently served as
vice president - supplier quality.

                      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.

                          *     *     *

In November 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.  S&P said the
outlook is negative.


G KERTLAND: Brings In Liquidators from Mazars
---------------------------------------------
Simon David Chandler and Alistair Steven Wood of Mazars LLP were
appointed joint liquidators of G Kertland and Son Ltd. on Jan. 8
for the creditors' voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Mazars LLP
         The Broadway
         Dudley
         West Midlands
         DY1 4PY

The company can be reached at:

         Stanley House
         27 Wellington Road
         Bilston
         West Midlands
         England


GAP INC: Names Sabrina Simmons as Chief Financial Officer
---------------------------------------------------------
Gap Inc. disclosed that Sabrina Simmons, the company's executive
vice president of corporate finance and acting chief financial
officer, has been promoted to the position of chief financial
officer, effective immediately.  She will continue to report to
Glenn Murphy, Gap Inc.'s chairman and chief executive officer,
and serve on the company's Executive Leadership Team.

"As Sabrina has taken on more responsibility over the years, her
deep knowledge of specialty retail, strong financial acumen and
personal integrity have earned her the respect of those inside
and outside the company," Mr. Murphy said.  "After working
closely with Sabrina, it became clear that she has proven
herself to be extremely capable and is the right person to
partner with me and our business leaders to drive our financial
priorities."

Ms. Simmons, 44, joined Gap Inc. nearly seven years ago as vice
president and treasurer.  Prior to being named the company's
executive vice president and acting chief financial officer in
August 2007, Ms. Simmons served as senior vice president of
corporate finance where she was responsible for all corporate
finance functions including controllership, corporate finance
planning and analysis, investor relations, treasury, tax and
risk management.

"I'm very pleased to have this opportunity to serve as Gap
Inc.'s chief financial officer," Ms. Simmons said.  "Gap Inc.
maintains a strong commitment to financial discipline and I look
forward to working with Glenn and our business leaders to
develop near- and long-term strategies to enhance shareholder
value."

Before joining Gap Inc., Ms. Simmons held the position of chief
financial officer for Sygen International PLC, a British
genetics company now owned by Genus.  She also spent five years
at Levi Strauss & Co., in addition to finance roles at Hewlett
Packard and KPMG.

Ms. Simmons received her B.S. in Finance from the University of
California, Berkeley and her M.B.A. from the University of
California, Los Angeles.  She is also a California Certified
Public Accountant.

                      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.


GIGI LTD: Stephen P. Grant Leads Liquidation Procedure
------------------------------------------------------
Stephen P. Grant of Wilkins Kennedy was appointed liquidator of
Gigi Ltd. on Jan. 8 for the creditors' voluntary winding-up
procedure.

The liquidator can be reached at:

         Wilkins Kennedy
         Bridge House
         London Bridge
         London
         SE1 9QR
         England


INVENSYS PLC : Fitch Upgrades Issuer Default Rating to BB
---------------------------------------------------------
Fitch Ratings has upgraded UK-based Invensys PLC's and Invensys
International Holdings Ltd's Long-term Issuer Default Ratings to
'BB' from 'BB-' and removed them from Rating Watch Positive.  A
Stable Outlook is assigned.  Fitch has also affirmed the Short-
term IDR at 'B'. Approximately GBP470 million of debt is
affected by the rating action.

These issue ratings are affected by this action:

Invensys PLC

   -- 9.875% senior notes: upgraded to 'BB' from 'B+'; off RWP

Invensys International Holdings Ltd

   -- Senior secured rating: upgraded to 'BBB-' from 'BB+'; off
      RWP

The upgrade of Invensys's IDR reflects the completion of the
sale of the process equipment and automation solutions business,
APV, to US-based SPX Corporation (rated 'BB+'/Stable) for
GBP250 million effective Dec. 31, 2007.  The ratings also factor
in the improvement in operating performance and underlying cash
flow generation achieved in fiscal year 2007 (ended
March 31, 2007) and first half of 2008 (ended Sept. 30, 2007),
as well as lower pension and other legacy liabilities, which
have become less of a financial burden to the group and hence
less of a credit constraint on the ratings.

Fitch expects the company to pay down around GBP170 million of
outstanding debt -- most likely the 9.875% senior notes -- with
cash proceeds from the APV sale (net of GBP80 million earmarked
for pension contributions) during 2008. Fitch estimates zero net
debt on a pro-forma basis, post-APV and Firex (US$44 million )
sales.  Fitch expects the company to refinance part or all of
its outstanding debt during the course of 2008.

Positive funds from operations and cash flow from operations
have been restored, thanks to operating EBITDAR growth, lower
cash interest payments following the 2006 refinancing and
working capital management.  Extensive restructuring to stem the
historical slowdown in growth and decline in profitability,
particularly within the challenging controls business, appears
to be yielding results.  The ratings also reflect Invensys's
strengthened capital structure; this improvement has translated
into a more favorable lease-adjusted net debt (excluding
restricted cash) / EBITDAR ratio of 1.5x at fiscal year ending
2007, from 4.4x at fiscal year ending 2006.

The Stable Outlook reflects Fitch's expectation that operating
performance and cash flow generation will be stable over the
next 12 to 18 months.  Weakness in the U.S. residential market
and the uncertain global economic outlook may offset some of the
restructuring benefits the company expects to achieve.  However,
Invensys's stronger financial profile, overall positive margin
and cash flow progression, and the more streamlined business
structure should allay these concerns to some extent.

The upgrade of the issue ratings reflects the substantial de-
leveraging achieved (net senior cash position), and hence lower
subordination for the senior noteholders at Invensys plc.  This
is reinforced by the expectation that the proceeds from the sale
of APV will be applied to further debt prepayment.


PEACOCK & HUDDLESTON: Claims Filing Period Ends March 31
--------------------------------------------------------
Creditors of Peacock & Huddleston Ltd. have until March 31, 2008
to send in their full names, their addresses and descriptions,
full particulars of their debts or claims and the names and
addresses of their solicitors (if any) to:

         Mark Newman
         Joint Liquidator
         Vantis Business Recovery Services
         Judd House
         16 East Street
         Tonbridge
         TN9 1HG
         England

Mark Newman and Vincent John Green of Vantis Business Recovery
Services were appointed joint liquidators of the company on Jan.
14 by the members and creditors.


SOUTH LONDON: Taps A. Clifton to Liquidate Assets
-------------------------------------------------
A. Clifton of DTE Leonard Curtis was appointed liquidator of
South London Taxis Ltd. on Jan. 11, 2008 for the creditors'
voluntary winding-up procedure.

The liquidator can be reached at:

         DTE Leonard Curtis
         Bamfords Trust House
         85-89 Colmore Row
         Birmingham
         B3 2BB
         England


SYDNEY STREET: Moody's May Cut Ba1 Rating After Review
------------------------------------------------------
Moody's Investors Service has taken negative rating action on
US$3.2 billion of notes issued by these four European CDOs:

   -- Sydney Street Finance Limited;
   -- Palmer Square 3 Limited;
   -- New Bond Street CDO 2 Limited; and
   -- Classic I (Netherlands) B.V. - Series 2006-1.

These rating actions are the result of downward credit
migrations in the underlying portfolios, which consist mainly of
U.S. ABS CDOs and U.S. subprime RMBS securities, particularly of
the 2006 and 2007 vintages.  These rating actions also reflect
Moody's outlook for U.S. RMBS and ABS CDOs from these and other
vintages.

The transactions affected by these actions are managed CDOs,
with the underlying portfolios containing between 0% and 27%
subprime RMBS and between 3% and 41% ABS CDOs of the 2005, 2006,
and 2007 vintages.  Many of these assets in the portfolios have
been downgraded, placed on negative watch, or both in recent
weeks.  There are also defaulted ABS CDOs in New Bond Street
CDO 2 and Palmer Square 3.

Moody's will continue to monitor all deals with exposure to U.S.
subprime RMBS and ABS CDOs, and will take further actions in
respect of all CDOs placed on review for downgrade once the
extent of actual downgrades to U.S. RMBS and ABS CDO vintages
becomes known.

These rating actions are:

   * Sydney Street Finance Limited:

   (1) EUR70,000,000 Class A-1 Floating Rate Credit-Linked
       Notes

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (2) EUR66,700,000 Class A-2 Floating Rate Credit-Linked Notes

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (3) EUR60,000,000 Class B Floating Rate Credit-Linked Notes

    -- Current Rating: Aa1, on review for downgrade
    -- Prior Rating: Aa1

   (4) EUR46,700,000 Class C Floating Rate Credit-Linked Notes

    -- Current Rating: Aa2, on review for downgrade
    -- Prior Rating: Aa2

   (5) EUR44,000,000 Class D Floating Rate Credit-Linked Notes

    -- Current Rating: Aa3, on review for downgrade
    -- Prior Rating: Aa3

   (6) EUR26,700,000 Class E Floating Rate Credit-Linked Notes

    -- Current Rating: A2, on review for downgrade
    -- Prior Rating: A2

   (7) EUR21,350,000 Class F Floating Rate Credit-Linked Notes

    -- Current Rating: A3, on review for downgrade
    -- Prior Rating: A3

   (8) EUR21,350,000 Class G Floating Rate Credit-Linked Notes

    -- Current Rating: Baa2, on review for downgrade
    -- Prior Rating: Baa2

   (9) EUR20,000,000 Class H Floating Rate Credit-Linked Notes

    -- Current Rating: Ba1, on review for downgrade
    -- Prior Rating: Ba1

   * Palmer Square 3 Limited:

   (1) US$1,000,000,000 Class A1-M Floating Rate Notes due 2052

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (2) US$200,000,000 Class A1-Q Floating Rate Notes due 2052

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (3) US$300,000,000 Class A2 Floating Rate Notes due 2052

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (4) US$300,000,000 Class A3 Floating Rate Notes due 2052

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (5) US$116,000,000 Class A4 Floating Rate Notes due 2052

    -- Current Rating: Ba1, on review for downgrade
    -- Prior Rating: Aaa

   (6) US$39,000,000 Class B Floating Rate Notes due 2052

    -- Current Rating: Ba2, on review for downgrade
    -- Prior Rating: Aa2

   (7) US$18,000,000 Class C Deferrable Floating Rate Notes due
       2052

    -- Current Rating: Ba3, on review for downgrade
    -- Prior Rating: A2

   (8) US$17,000,000 Class D Deferrable Floating Rate Notes due
       2052

    -- Current Rating: B3, on review for downgrade
    -- Prior Rating: Baa2

   * New Bond Street CDO 2 Limited:

   (1) US$100,000,000 Class A Floating Rate Notes due 2067

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (2) US$40,000,000 Class B Floating Rate Notes due 2067

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (3) US$25,000,000 Class C Deferrable Floating Rate Notes due
       2067

    -- Current Rating: Aa2, on review for downgrade
    -- Prior Rating: Aa2

   (4) US$20,000,000 Class D Deferrable Floating Rate Notes due
       2067

    -- Current Rating: Ba3, on review for downgrade
    -- Prior Rating: A2

   (5) US$15,000,000 Class E Deferrable Floating Rate Notes due  
       2067

    -- Current Rating: B3, on review for downgrade
    -- Prior Rating: Baa3

   * Classic I (Netherlands) B.V. - Series 2006-1:

   (1) US$443,529,000 Class A1 Secured Notes due October 2053

    -- Current Rating: Aaa, on review for downgrade
    -- Prior Rating: Aaa

   (2) US$49,281,000 Class A2 Secured Notes due October 2053

    -- Current Rating: Baa2, on review for downgrade
    -- Prior Rating: Baa2


TEREX CORP: Appoints Four Officers to Senior Executive Roles
------------------------------------------------------------
Terex Corporation has disclosed several senior executive
appointments in support of its strategy to increase its market
presence in high growth markets around the globe.

Steve Filipov, who has been President, Terex Cranes, has been
named to the new position of President, Developing Markets and
Strategic Accounts, reporting to Terex President and Chief
Operating Officer Tom Riordan.  Mr. Filipov has led the Terex
Cranes team that has dramatically increased business and
profitability in the last three years.  Much of this growth has
come from developing markets.

Rick Nichols has been named President, Terex Cranes.  He has
been serving as President, Terex Materials Processing & Mining.
He also reports to Mr. Riordan.  Mr. Nichols has been successful
in leading the advancement of lean manufacturing capabilities to
improve margins and capacity, overseeing acquisitions, and
changing the business strategy for the Terex mining truck
business.

Harry Bussman has been promoted to run the global Terex Mining
business.  He had been General Manager of the Terex O&K large
hydraulic mining shovel business.  He will report to Mr. Nichols
on an interim basis while a search is conducted for a President
of the overall Materials Processing & Mining segment.  The
Materials Processing business led by Kieran Hegarty will report
to Mr. Riordan on an interim basis.

George Ellis has been appointed Vice President, Manufacturing
Services, reporting to Mr. Riordan.  Mr. Ellis currently leads
the Terex Utilities business and will continue to do so until a
replacement is named.  Mr. Ellis has responsibility for the
Terex manufacturing strategic plan and assisting business
operations with capital expenditure budgets.

"Steve Filipov is the right person to lead efforts to improve
Terex relationships with our large global customer strategic
accounts and to oversee a more aggressive approach to increasing
our presence in developing markets," Terex President and COO
Riordan said.  "Rick Nichols will lead capacity improvement
efforts in our Crane facilities while continuing the
globalization of our business, and we are excited about future
prospects for this rapidly expanding segment."

Mr. Riordan continued, "With these appointments, we are putting
in place the leadership we need to meet the challenging
objectives we have set for Terex, including our ambitious 12 x
12 in '10 goal.  We are clearly aiming to grow Terex to have $12
billion of net sales with a 12 percent operating margin in
2010."

                   About Terex Corporation

Headquartered in Westport, Connecticut, Terex Corporation
(NYSE:TEX) - http://www.terex.com/-- manufactures a broad range
of equipment for use in various industries, including the
construction, infrastructure, quarrying, surface mining,
shipping, transportation, refining, and utility industries.
Terex offers a complete line of financial products and services
to assist in the acquisition of Terex equipment through Terex
Financial Services.  The company operates in five business
segments: Aerial Work Platforms, Construction, Cranes, Materials
Processing & Mining, and Roadbuilding, Utility Products and
Other.  The company has operations in Australia, Brazil, China,
Japan, Germany, United Kingdom, among others.

                         *     *     *

In August 2007, Moody's placed the company's long-term corporate
family rating and probability of default rating at Ba2, bank
loan debt rating at Ba1, and senior subordinate rating at Ba3.
These ratings still hold to date.  Moody's said the outlook is
stable.

Standard & Poor's placed the company's long-term foreign and
local issuer credits at BB, which still hold to date.  S&P said
the rating's outlook is stable.


TRIMAS CORP: Operating Unit Bags Hi-Vol's Production Contracts
--------------------------------------------------------------
TriMas Corporation's Hi-Vol Products operating unit has been
awarded production contracts for several components that will be
utilized on a next generation gasoline direct injection (GDI)
engine for a major North American automobile manufacturer.
Hi-Vol Products will be an indirect, tiered supplier to the
engines through an existing Hi-Vol Products customer.

The GDI engine features improvements in fuel economy and
horsepower, as well as reduced start up emissions relative to
comparable current generation non-GDI engines.  The awarded
components represent engineered products that were developed
through a highly collaborative effort between Hi-Vol's
engineering resources and those at the customer.

Hi-Vol Products General Manager, Eli Crotzer commented, "We are
extremely pleased to have been awarded this new business after a
lengthy period of development with our customer and the engine
manufacturer.  It is particularly satisfying to know that these
engineered products will be instrumental components in making
advancements in fuel economy and start up emissions reductions."

The next generation GDI engine is scheduled to go into
production in 2009 for use on 2010 model year vehicles.  There
is also potential for follow-on awards for separate programs.

                   About Hi-Vol Products

Headquartered in Livonia, Michigan, Hi-Vol Products is a
manufacturer of specialized cold-formed and precision-machined
parts for multiple applications and industries.  In particular,
Hi-Vol Products has developed a reputation for being able to
successfully cold form some of the most challenging parts and is
among the first in the industry to achieve TS 16949 and ISO
14001 certification.

                         About TriMas

Headquartered in Bloomfield Hills, Michigan, TriMas Corporation
(NYSE:TRS) -- http://www.trimascorp.com/-- is a diversified
growth company of high-end, specialty niche businesses
manufacturing a variety of products for commercial, industrial
and consumer markets worldwide.  TriMas Corporation is organized
into five strategic business groups: Packaging Systems, Energy
Products, Industrial Specialties, RV & Trailer Products, and
Recreational Accessories.  TriMas Corporation has nearly 5,000
employees at 80 different facilities in 10 countries.  The
company has manufacturing facilities in Indiana, Mexico,
England, Germany, Italy, and China.

                          *     *     *

TriMas Corp. carries Standard & Poor's Ratings Services' B+
corporate credit rating.  S&P said the outlook is stable.


WEEKENDERS EUROPE: Claims Filing Period Ends February 18
--------------------------------------------------------
Creditors of Weekenders Europe Ltd. have until Feb. 18 to send
in their names and addresses, with particulars of their debts or
claims to:

         Graham Bushby
         Joint Liquidator
         Baker Tilly Restructuring and Recovery LLP
         5th Floor
         Exchange House
         446 Midsummer Boulevard
         Milton Keynes
         MK9 2EA
         England

Graham Paul Bushby and Lynn Robert Bailey of Baker Tilly were
appointed joint liquidators of the company on Jan. 14 for the
creditors' voluntary winding-up proceeding.

  
                            *********

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 and Marites Claro, 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.


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