TCREUR_Public/080131.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

           Thursday, January 31, 2008, Vol. 9, No. 22

                            Headlines




A U S T R I A

ING. GRILLNBERGER: St. Poelten Court Orders Business Shutdown
KKB KURT: Linz Court Orders Business Shutdown
KNEISZ LLC: Claims Registration Period Ends February 4
KOEGL ROH: Claims Registration Period Ends February 4
LITHOMONTAGE SCHOR: Claims Registration Period Ends February 5

RW FENSTERMONTAGEN: Linz Court Orders Business Shutdown
SPORTBAU LLC: Steyr Court Orders Business Shutdown
STURMLEHNER UND CO: Creditors' Meeting Slated for February 19
XERIUM TECH: Opens Paper Machine Clothing Factory in Vietnam

B E L G I U M

CHEMTURA CORP: Selling Oleochemicals Business to PMC Group
CHIQUITA BRANDS: Reports Prelim Full Year & Fourth Qtr. Results
CHIQUITA BRANDS: Soliciting Consents to Amend Indenture Terms
CHIQUITA BRANDS: Reviews Capital Structure, Eyes Refinancing
CHIQUITA BRANDS: Moody's Holds B3 Corporate Family Rating

CHIQUITA BRANDS: S&P's Ratings Held by Capital Structure Review

F R A N C E

BALLY TECHNOLOGIES: Seminole Tribe to Get 2,000 Gaming Machines
DELPHI CORP: Court Allows Committee Participation in Exit Loan
DELPHI CORP: Court Grants Final Approval of MDL Settlements

G E R M A N Y

AUTOHAUS CORSO: Claims Registration Period Ends February 20
BAUSTOFF HANDELS: Claims Registration Period Ends February 20
BD DIENSTLEISTUNGS: Claims Registration Period Ends February 26
C&M SERVICE: Claims Registration Period Ends February 20
CHEF DELICE: Claims Registration Period Ends February 20

EIKA WACHSWERKE: Files for Insolvency at Fulda Court
ERICH ROHDE: Negotiations with Square Four in Advanced Stage
FIT-GETRANKE VERTRIEBS: Claims Registration Ends February 20
GABS DIENSTLEISTUNG: Claims Registration Ends February 20
GABS EUROTEACH: Claims Registration Ends February 20

GABS GESELLSCHAFT: Claims Registration Ends February 20
GABS KAUE: Claims Registration Ends February 20
GW GARTENBAU: Claims Registration Period Ends February 19
HIRSCH AG: Duesseldorf Court Commences Insolvency Proceedings
IDEA-DEIN HAUS: Claims Registration Period Ends February 19

ITRA INTERNATIONALE: Claims Period Ends February 19
KAY-EL GERMANY: Claims Registration Period Ends February 19
MAY MEDICAL: Claims Registration Period Ends February 21
NSL GMBH: Claims Registration Period Ends February 22
PIN GROUP: Creditor Claim Forces Parent to File for Insolvency

REINHARD FENGE: Claims Registration Period Ends February 19
SIAN VERWALTUNGS: Claims Registration Period Ends March 11
STEFAN NIENABER: Claims Registration Period Ends February 19
WARME-CONZEPT: Claims Registration Period Ends February 19

H U N G A R Y

PROPEX INC: Section 341(a) Creditors Meeting Slated for March 4
PROPEX INC: U.S. Trustee Appoints Five-Member Creditors' Panel

K A Z A K H S T A N

ALTERNATIVA 2007: Proof of Claim Deadline Slated for March 4
EXPRESS UNITS: Creditors Must File Claims by March 4
KAINAR KUS: Claims Filing Period Ends March 4
MIRNY OJSC: Creditors' Claims Due on February 28
OIL STROY: Claims Registration Ends March 4

PRINT SERVICE: Proof of Claim Deadline Slated for March 4
SENEKA PLUS: Creditors Must File Claims by February 28
SHYGYS TRANS: Claims Filing Period Ends March 4

K Y R G Y Z S T A N

CHUISKOYE PREDPRIYATIE: Creditors Must File Claims by Feb. 15

L U X E M B O U R G

HUNTSMAN CORP: Agrees to Extend Review Period for Hexion Merger
HUNTSMAN CORP: Hexion to Exercise Rights on Merger Extension
PIN GROUP: Creditor Claim Forces Parent to File for Insolvency

N E T H E R L A N D S

BLACKBOARD INC: Earns US$3.3 Million in 2007 Third Quarter
FLOWSERVE CORP: Bags Major Pump Deal from China Nuclear Power
HEXION SPECIALTY: Okays Extension of Review Period for Merger
HEXION SPECIALTY: To Exercise Rights Over Merger Deal Extension

P O L A N D

AFFILIATED COMPUTER: Renews IT Contract with Northamption County
AFFILIATED COMPUTER: Moody's Keeps Ba2 Rating After Review
NETIA SA: China Development Okays Service Agreement with P4

R U S S I A

HYNIX SEMICONDUCTOR: May Issue KRW150 Bil. Convertible Bonds
VTB 24: Fitch Puts Individual Rating at D

S W E D E N
FLEXTRONICS INTERNATIONAL: Completes Avail Medical Acquisition

S W I T Z E R L A N D

BLICKLE + PARTNER: Creditors' Liquidation Claims Due by Feb. 7
CREDIT INVEST: Creditors' Liquidation Claims Due by Feb. 7
ELINAG ENGINEERING: Creditors' Liquidation Claims Due by Feb. 8
GLACIER JSC: Creditors' Liquidation Claims Due by Feb. 7
GRIESSER-INSTALLATIONEN: Creditors Must File Claims by Feb. 8

MICHAEL UND: Creditors' Liquidation Claims Due by Feb. 7
POWER PRODUCTIONS: Creditors' Liquidation Claims Due by Feb. 7
SWISSADVISORS JSC: Zug Court Starts Bankruptcy Proceedings
SWISS ROOF: Creditors' Liquidation Claims Due by Feb. 8
W HUBER + PARTNER: Zug Court Starts Bankruptcy Proceedings

U K R A I N E

CAPITAL LLC: Creditors of Must File Claims by February 8
DSU 634: Creditors of Must File Claims by February 8
GRANTEX XXI: Creditors of Must File Claims by February 8
LLC-FINANCE: Creditors of Must File Claims by February 8
NIVA LLC: Creditors of Must File Claims by February 8

PETROLEUM-SERVICE SKP: Claims Filing Deadline Set February 8
REPAIR-BUILDING SPECIALIZED 66: Proofs of Claim Due February 8
TECHNICS LLC: Creditors of Must File Claims by February 8
TECHNOTEL LLC: Creditors of Must File Claims by February 8
ULIYANOVKA LLC: Claims Filing Deadline Set February 8

U N I T E D   K I N G D O M

AEROSPACE & TECHNICAL: Taps Liquidators from Menzies
ARVINMERITOR INC: To Supply Hyundai Unit w/ Plastic Door Modules
ARVINMERITOR INC: Board Declares US$0.10 Quarterly Dividend
ARVINMERITOR INC: Names Barbara Novak VP & Corporate Secretary
BAA LTD: British Airways Wants CAA to Stop Improvement Delays

BALL CORP: Reports US$281.3 Million 2007 Full Year Earnings
BERRY PLASTICS: S&P Holds Low-B Ratings on Captive Plastics Buy
BRITISH AIRWAYS: Calls for Improved Service Quality Regulations
CLEAR CHANNEL: S&P Retains Negative CreditWatch on B+ Rating
CLOCKWORK CONTROL: Calls In Liquidators from Tenon Recovery

CRN LOGISTICS: Brings In Liquidators from Tenon Recovery
DANOR ELECTRONICS: Appoints Liquidators from Mazars
DURA AUTOMOTIVE: Asks Court Consent for US$170M Replacement Loan
FORD MOTOR: At Ease with Tata Motors' Jaguar Brand Acquisition
INTELSAT LTD: Moody's Cuts Rating to Caa1 on Increased Leverage

INTERMEC INC: Names Raymond Cronin as RFID VP & General Manager
ISLE OF CAPRI: Acquires Nevada Gold's 43% Black Hawk Stake
LEVENDIS COMPANY: Claims Filing Period Ends March 18
MC ELECTRICAL: Joint Liquidators Take Over Operations
NEMUS FUNDING: Moody's Rates GBP17.33 Mln Class E Notes at Ba3

SPORTS CAFE: Agilo Buys Five Branches for Undisclosed Sum
TELTRONICS INC: Partners with Access & Collier Business Systems
TEREX CORP: Minnesota Unit Begins Tender Offer to Buy ASV Shares

* Upcoming Meetings, Conferences and Seminars




                            *********


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

ING. GRILLNBERGER: St. Poelten Court Orders Business Shutdown
-------------------------------------------------------------
The Land Court of St. Poelten entered Dec. 21, 2007 an order
shutting down the business of LLC Ing. Grillnberger (FN 87465a).

Court-appointed estate administrator Franz Hofbauer 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. Franz Hofbauer
          c/o  Mag. Rudolf Nokaj
          Hauptplatz 6
          3370 Ybbs/Donau
          Austria
          Tel: 07412/52731
          Fax: 07412/52731-22
          E-mail: dr.hofbauer@wibs.at  

Headquartered in Purgstall an der Erlauf, Austria, the Debtor
declared bankruptcy on Dec. 20, 2007 (Bankr. Case No 14 S
206/07w).  Rudolf Nokaj represents Dr. Hofbauer in the
bankruptcy proceedings.


KKB KURT: Linz Court Orders Business Shutdown
---------------------------------------------
The Land Court of Linz entered Dec. 21, 2007 an order shutting
down the business of LLC KKB Kurt Berger (FN 269919s).

Court-appointed estate administrator Wolfgang Kempf 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. Wolfgang Kempf
          Buergerstrasse 41
          4020 Linz
          Austria
          Tel: 0732/777207
          Fax: 0732/782570
          E-mail: ra.kempf.linz@utanet.at  

Headquartered in Leonding, Austria, the Debtor declared
bankruptcy on Dec. 19, 2007 (Bankr. Case No 38 S 66/07w).


KNEISZ LLC: Claims Registration Period Ends February 4
------------------------------------------------------
Creditors owed money by LLC Kneisz (FN 226001f) have until
Feb. 4, 2008 to file written proofs of claim to court-appointed
estate administrator Josef Ebner at:

          Dr. Josef Ebner
          Mahlerstrasse 7
          1010 Vienna
          Austria
          Tel: 512 29 94
          Fax: 512 29 04
          E-mail: ra.ebner@aon.at    

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:15 a.m. on Feb. 18, 2008 for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1705
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Dec. 21, 2007 (Bankr. Case No. 3 S 161/07g).  


KOEGL ROH: Claims Registration Period Ends February 4
-----------------------------------------------------
Creditors owed money by  LLC Koegl Roh- und Innenausbau  (fka
LLC Koegl Gastronomie) (FN 244650f) have until Feb. 4, 2008 to
file written proofs of claim to court-appointed estate
administrator Birgit Linder at:

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

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on Feb. 18, 2008 for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1705
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Dec. 21, 2007 (Bankr. Case No. 3 S 163/07a).  Edmund Roehlich
represents Mag. Linder in the bankruptcy proceedings.


LITHOMONTAGE SCHOR: Claims Registration Period Ends February 5
--------------------------------------------------------------
Creditors owed money by LLC Lithomontage Schor (FN 67246t) have
until Feb. 5, 2008 to file written proofs of claim to court-
appointed estate administrator Erwin Senoner at:

          Dr. Erwin Senoner
          c/o Dr. Georg Freimueller
          Alser Strasse 21
          1080 Vienna
          Austria
          Tel: 406 05 51
          Fax: 406 96 01
          E-mail: kanzlei@jus.at    

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:00 a.m. on Feb. 19, 2008 for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1609
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Dec. 21, 2007 (Bankr. Case No. 38 S 72/07a).  Georg
Freimueller represents Dr. Senoner in the bankruptcy
proceedings.


RW FENSTERMONTAGEN: Linz Court Orders Business Shutdown
-------------------------------------------------------
The Land Court of Linz  entered Dec. 27, 2007 an order shutting
down the business of LLC RW Fenstermontagen (FN 170987b).

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

The estate administrator can be reached at:

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

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


SPORTBAU LLC: Steyr Court Orders Business Shutdown
--------------------------------------------------
The Land Court of Steyr entered Dec. 27, 2007 an order shutting
down the business of LLC Sportbau (FN 233569i).

Court-appointed estate administrator Wolfgang Strasser
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. Wolfgang Strasser
          c/o Dr. Christian Strasser
          Hauptplatz 11
          4300 St. Valentin
          Austria
          Tel: 07435/52 4 37
          E-mail: st-valentin@advocat24.at  

Headquartered in Enns, Austria, the Debtor declared bankruptcy
on Dec. 13, 2007 (Bankr. Case No 14 S 47/07w).  Christian
Strasser represents Dr. Strasser in the bankruptcy proceedings.


STURMLEHNER UND CO: Creditors' Meeting Slated for February 19
-------------------------------------------------------------
Creditors owed money by KEG Sturmlehner und Co (FN 271897z) are
encouraged to attend the creditors' meeting at 11:50 a.m. on
Feb. 19, 2008.

The creditors' meeting will be held at:

          The Land Court of St. Poelten
          Room 216
          Second Floor
          St. Poelten
          Austria

Headquartered in Kaumberg, Austria, the Debtor declared
bankruptcy on Dec. 27, 2007 (14 S 208/07i).  Stephan Riel serves
as the court-appointed estate administrator of the bankrupt's
estate.

The estate administrator can be reached at:

          Dr. Stephan Riel
          Schiessstattring 35/13
          3100 St. Poelten
          Austria
          Tel: 02742/74731
          Fax: 02742/74731/22
          E-mail: kanzlei@jsr.at


XERIUM TECH: Opens Paper Machine Clothing Factory in Vietnam
------------------------------------------------------------
Xerium Technologies, Inc. reported its official groundbreaking
ceremony for its state-of-the-art paper machine clothing factory
in Ho Chi Minh City, Vietnam.

At the event, which was attended by more than 100 dignitaries
from throughout the region, Cheryl Diuguid, President of Xerium
Asia, said, "With this new facility, Xerium is building on a
long, successful history of conducting business in the Asia
region.  Our investment in this facility, and specifically in
Vietnam, is an important step in our efforts to build on this
history and increase our participation in this important and
growing paper market.  Xerium has been a leading participant and
valued paper machine clothing supplier to Asian paper producers
for decades.  In addition to this Huyck.  Wangner facility we
are building, we have also expanded our roll covers business to
pursue additional growth opportunities in this segment of
the Asia market.  In November 2007, Xerium acquired a local roll
covers business with two manufacturing operations in China, and
we expect that the acquired operation will serve as the base for
our Stowe Woodward China business."

She added, "We made the decision to invest in Vietnam because we
believe this country provides us with excellent support for all
our critical success factors, including proximity to our major
customers, ease of logistics, technical capabilities, education
level of the local workforce, variable and manufacturing
overhead costs, government support and interest, local market
opportunities and expansion options.  To put it simply, we
wanted an "Ease of Business" environment and we are confident
that we have found it here."

The facility is being constructed in the My Phouc Industrial
Park, 40 km northeast of Ho Chi Minh City in the region of Binh
Duong.  This facility, which is expected to begin production in
the second half of 2008, is expected to employ more than 150
people at full production.

Headquartered in Wesborough, Massachusetts, Xerium Technologies,
Inc. -- http://xerium.com/-- manufactures and supplies two   
types of products used primarily in the production of paper:
clothing and roll covers.  The company operates under a variety
of brand names and owns a broad portfolio of patented and
proprietary technologies to provide customers with tailored
solutions and products, designed to optimize performance and
reduce operational costs.  With 35 manufacturing facilities in
15 countries, including Austria, Brazil and Japan, Xerium
Technologies has approximately 3,900 employees.

                       *     *     *

Moody's Investors Service changed the outlook on Xerium
Technologies, Inc.'s ratings to negative from stable, and
affirmed the company's corporate family rating at B1.  The
change in outlook to negative reflects Xerium's weaker than
expected operating performance primarily due to production
inefficiencies in North America and delays in achieving benefits
from cost reduction initiatives.  Moody's believes the impact of
these issues, coupled with a difficult pricing environment for
roll covers and to a lesser extent clothing products, will
continue to negatively affect operating performance over the
intermediate term.

Affirmed ratings include the company's: Corporate family rating
at B1; Guaranteed senior secured term loan B at B1; and
Guaranteed senior secured revolving credit facility at B1.


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B E L G I U M
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CHEMTURA CORP: Selling Oleochemicals Business to PMC Group
----------------------------------------------------------
Chemtura Corporation has reached agreement to sell its  
oleochemicals business to PMC Group NA Inc. for an undisclosed
amount, subject to financing and other conditions including
customary closing conditions.  Included in the transaction is
Chemtura's production facility at Memphis, Tennessee.  Proceeds
from the sale will be used primarily for debt reduction.

The transaction is expected to close by the end of the first
quarter.

The oleochemicals business had revenues for 2007 of
approximately US$175 million.

"This transaction will be another step in improving our polymer
additives business by strategically divesting product lines to
better focus on the products and businesses where we have our
greatest strengths and leading market positions," Robert L.
Wood, Chemtura chairman and CEO, said.  "PMC Group NA Inc. is
committed to this business and its growth, which will be an
advantage to both customers and employees."

Chemtura's Memphis facility has about 260 employees, who are
expected to transfer to PMC Group NA Inc.  The facility produces
fatty acids, fatty esters, glycerin approved for pharmaceutical
applications, glycerol esters, amides, bisamides, stearates and
triglycerides.  The Memphis plant is the only producer of
primary amides in North America for the plastics additives
market.

                    About Chemtura Corporation

Headquartered in Middlebury, Connecticut, Chemtura Corp.
(NYSE:CEM) -- http://www.chemtura.com/-- is a manufacturer and  
marketer of specialty chemicals, crop protection, and pool, spa
and home care products.  The company has approximately 6,400
employees around the world and sells its products in more than
100 countries.  The company has facilities in Singapore,
Australia, China, Hong Kong, India, Japan, South Korea, Taiwan,
Thailand, Brazil, Belgium, France, Germany, Mexico, and The
United Kingdom.

                          *      *      *

As reported in the Troubled Company Reporter-Europe on Dec. 21,
2007, Moody's Investors Service placed Chemtura Corporation's
corporate family rating, CFR of Ba2 under review for possible
downgrade after reports that its "board of directors has
authorized management to consider a wide range of strategic
alternatives available to the company to enhance shareholder
value."  

Standard & Poor's Ratings Services placed its 'BB+' corporate
credit and senior unsecured debt ratings of Chemtura Corp. on
CreditWatch with developing implications, after reports that
management is considering strategic alternatives, including sale
or merger of the company.  


CHIQUITA BRANDS: Reports Prelim Full Year & Fourth Qtr. Results
---------------------------------------------------------------
Chiquita Brands International Inc. reported preliminary
unaudited selected results for the fourth quarter and full-year
2007 and announced the details of a proposed refinancing.

Fourth quarter net sales increased approximately 6% year-over-
year to US$1.2 billion, and the company expects adjusted
operating income in the range of US$6-16 million and adjusted
EBITDA in the range of US$28-38 million.

For the full year, net sales increased approximately 4 percent
year-over-year to US$4.7 billion, and the company expects
adjusted operating income in the range of US$62-72 million and
adjusted EBITDA in the range of US$152-162 million.  A
reconciliation of (i) adjusted EBITDA and (ii) adjusted
operating income amounts presented above to estimated operating
income is included in a Non-GAAP Financial Measures.

The company reported liquidity that included cash in excess of
US$70 million, compared to US$65 million at year-end 2006, as
well as US$169 million of availability under its current
revolving credit facility.  The company remained in compliance
with its covenants under its existing debt facilities at
Dec. 31, 2007, and expects to remain in compliance with them.

"Our estimated fourth quarter results reflect improved year-
over-year operating performance in the fourth quarter, despite a
rising cost environment," said Fernando Aguirre, chairman and
chief executive officer.  "In addition, our business
restructuring announced in October remains on track to deliver
our targeted savings in 2008."

Mr. Aguirre added, "We will remain focused on three priorities
in 2008 to drive progress on our strategy to achieve
sustainable, profitable growth.  First, we will complete the
restructuring we began implementing in October to improve
profitability by consolidating our operations and simplifying
our overhead structure.  Second, we will seek to improve
execution and market performance in our core businesses, while
managing through a difficult cost environment.  Third, we will
continue to invest in long-term growth opportunities by
expanding the introduction of innovative, higher-margin products
that can help diversify our business by product, channel and
geography."

As announced in October, the company is exploring strategic
alternatives for its German distribution business, Atlanta AG,
including a possible sale, and does not expect to announce
developments with respect to this process unless and until its
board of directors has reached a decision.  There can be no
assurance regarding the timing or ultimate outcome of this
process.

                       2008 Outlook

While the company does not provide specific guidance for net
sales and net income, the company does expect improved year-on-
year performance in sales and operating income in 2008,
primarily due to contract and market price increases, including
fuel-related surcharges, and the benefits of the business
restructuring, which remains on track to deliver US$60-80
million in year-on- year cost savings in 2008.  The company does
expect significant year-on-year increases in industry and other
costs, which may exceed US$120 million in 2008, before fuel
hedging gains.  This amount includes fuel cost impacts on ocean
shipping of approximately US$35 million based on current market
forward rates, increases in the cost of purchased raw product
(primarily bananas) of US$40-50 million, as well as increases in
materials, banana production, discharge and other logistics
costs.

The following chart summarizes management's estimates of the
impact of certain other items on the company's results for 2008:

(US$ millions)                  Full-Year 2008 Estimate (1)

Capital Expenditures                   US$60-75
Depreciation & Amortization            US$70-80
Euro Hedging Costs (2)                    US$13
Fuel Hedging Gains (3)                    US$18

  (1) The foregoing estimates constitute forward-looking
       statements and are subject to risks and uncertainties.

  (2) Euro hedging costs were US$19 million in 2007.  The 2008
      euro hedging cost estimates are based on current market
      forward rates in relation to the company's 2008 hedging
      portfolio, which includes euro put options at average
      strike rates of US$1.40 per euro covering approximately
      70 percent of the company's estimated net euro cash flow
      exposure.

  (3) The company realized a fuel hedging gain of US$12 million
      in 2007.  The 2008 fuel hedging gain estimates are based
      on current market forward rates as of Jan. 24, 2008.
      Approximately 65 percent of the company's expected core
      fuel needs in ocean shipping through January 2010 are
      hedged with bunker fuel swaps.

                   Proposed Refinancing

The company also announced that it is reviewing its capital
structure.  It is considering options including a potential
amendment or refinancing of its senior secured credit facility
and a convertible note offering, which is intended to lower the
company's interest expense, extend maturities and provide
additional covenant flexibility.

The company's total debt at year-end 2007 was US$814 million,
compared to US$1.029 billion a year ago, with minimal mandatory
principal repayment obligations during the next three years.
The company remained in compliance with its covenants under its
existing debt facilities at Dec. 31, 2007, and expects to remain
in compliance. The current secured credit facility includes a
Term Loan C, which had a balance outstanding of US$326 million
at Dec. 31, 2007, and a US$200 million revolving credit facility
used for seasonal working capital needs.  As of Dec. 31, 2007,
the revolving credit facility was undrawn and had availability
of US$169 million after outstanding letters of credit.

As part of its proposed refinancing, the parent company,
Chiquita Brands International, Inc., may consider issuing
convertible senior unsecured notes, the proceeds of which would
be used to partially prepay the existing Term Loan C.  In
connection with the proposed refinancing, the company announced
that it is seeking consent from holders of its 7 1/2 percent
senior notes due in 2014, in order to amend the terms of the
indenture under which the notes were issued.  Consummation of
the refinancing is subject to a number of market and other
conditions.  No assurance can be given that any such amendment
or refinancing of the company's capital structure can or will be
completed on terms that are acceptable to the company, if at
all.

                  Recent Price & Volume Data

The company reported increases in banana prices in all markets
for the fourth quarter 2007, compared to the same period a year
go.  In its Fresh Express value-added salads business, the
company reported significant year-on- year volume growth in the
fourth quarter 2007, while net revenue per case rose slightly.

North American banana pricing increased 7 percent year-on-year
in the fourth quarter, reflecting increases in base contract
prices and higher year-on-year surcharges linked to a third-
party fuel price index, and volume rose 1 percent.

Banana prices in the company's core European markets increased 5
percent year-on-year on a local currency basis (up 18 percent on
a U.S. dollar basis), reflecting favorable comparisons to the
year-ago quarter when the market had excess supply.  The
company's volume sold in the core European markets was down 7
percent year-over-year, due to constrained volume availability
and the company's strategy to maintain and favor its premium
quality product and price differentiation over market share.

In Asia Pacific and the Middle East, pricing rose 6 percent
year-on-year on a U.S. dollar basis, while volume fell by 9
percent year-over-year primarily as a result of continuing
supply constraints in the Philippines, which resulted in lower
yields of premium-quality fruit.

In the company's trading markets, which consist primarily of
European and Mediterranean countries that do not belong to the
European Union, pricing rose 14 percent year-over-year, while
the company's volume in this region declined 55 percent,
compared to the year-ago quarter when the market was
oversupplied.

Price and volume trends in the company's core markets in Europe
and North America were broadly similar thus far for the month of
January 2008, compared to trends in the fourth quarter of 2007.

In the Salads and Healthy Snacks segment, the company's volume
of retail value-added salads increased 10 percent year-over-year
in the fourth quarter, reflecting strong recovery in the value-
added salads category in the first full quarter following the
one-year anniversary of the E. coli outbreak, which affected the
industry beginning in September 2006.  The category recovery is
expected to continue at a more moderate pace in future quarters,
as more time passes from the anniversary of this event. During
the fourth quarter of 2007, the company also maintained
relatively stable net revenue per case, up 1 percent year-over-
year.

Cincinnati, Ohio-based Chiquita Brands International Inc. (NYSE:
CQB) -- http://www.chiquita.com/-- markets and distributes
fresh food products including bananas and nutritious blends of
green salads.  The company markets its products under the
Chiquita(R) and Fresh Express(R) premium brands and other
related trademarks.

Chiquita employs approximately 25,000 people operating in more
than 70 countries worldwide, including Belgium, Colombia,
Germany, Panama, Philippines, among others.


CHIQUITA BRANDS: Soliciting Consents to Amend Indenture Terms
-------------------------------------------------------------
Chiquita Brands International Inc. disclosed solicitation of
consents to amend the terms of the indenture for its 7-1/2%  
senior notes due 2014, in connection with a proposed refinancing
of its senior credit facility that is intended to lower its
interest expense, extend maturities and provide additional
covenant flexibility.

The purpose of the consent solicitation is to amend provisions
in the indenture governing the Notes regarding the company's
ability to incur certain liens.

The record date for the consent solicitation is the close of
business, New York City time, on Jan. 25, 2008.  The consent
solicitation will expire at 5:00 p.m., New York City time, on
Monday, Feb. 4, 2008, unless extended.  The company is offering
a consent fee of US$20 per US$1,000 of principal amount of Notes
to each holder of record as of the record date who has delivered
a valid consent prior to the Expiration Time.

The company's obligations to accept consents and pay a consent
fee is conditioned, among other things, on the receipt of
consents to the amendments from holders of at least a majority
in aggregate principal amount of Notes, the consummation of a
senior unsecured convertible indebtedness transaction raising
gross proceeds of not less than US$125 million on or before
Feb. 15, 2008, and other conditions.

Questions from holders regarding the consent solicitation or
requests for additional copies of the Consent Solicitation
Statement, the Consent Form or other related documents should be
directed to the information agent for the consent solicitation:

     Global Bondholder Services Corporation
     Suite 723, 65 Broadway
     New York, NY 10006
     Tel (866) 873-6300 (toll free)
         (212) 430-3774 (call collect)

                or  

     Morgan Stanley & Co. Incorporated
     Solicitation Agent
     Tel (800) 624-1808 (toll free)

            About Chiquita Brands International Inc.

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


CHIQUITA BRANDS: Reviews Capital Structure, Eyes Refinancing
------------------------------------------------------------
Chiquita Brands International Inc. is reviewing its capital
structure.  It is considering options including a potential
amendment or refinancing of its senior secured credit facility
and a convertible note offering, which is intended to lower the
company's interest expense, extend maturities and provide
additional covenant flexibility.

The company's total debt at year end 2007 was US$814 million,
compared to US$1.029 billion a year ago, with minimal mandatory
principal repayment obligations during the next three years. The
company remained in compliance with its covenants under its
existing debt facilities at Dec. 31, 2007, and expects to remain
in compliance.

The company reported liquidity that included cash in excess of
US$70 million, compared to US$65 million at year-end 2006, as
well as US$169 million of availability under its current
revolving credit facility.  The company remained in compliance
with its covenants under its existing debt facilities at Dec.
31, 2007, and expects to remain in compliance with them.

The current secured credit facility includes a Term Loan C,
which had a balance outstanding of US$326 million at Dec. 31,
2007, and a US$200 million revolving credit facility used for
seasonal working capital needs.

As of Dec. 31, 2007, the revolving credit facility was undrawn
and had availability of US$169 million after outstanding letters
of credit.

As part of its proposed refinancing, the parent company,
Chiquita Brands International Inc., may consider issuing
convertible senior unsecured notes, the proceeds of which would
be used to partially prepay the existing Term Loan C.

In connection with the proposed refinancing, the company is
seeking consent from holders of its 7-1/2% senior notes due in
2014, in order to amend the terms of the indenture under which
the notes were issued.  Consummation of the refinancing is
subject to a number of market and other conditions.  

No assurance can be given that any such amendment or refinancing
of the company's capital structure can or will be completed on
terms that are acceptable to the company, if at all.

            About Chiquita Brands International Inc.

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


CHIQUITA BRANDS: Moody's Holds B3 Corporate Family Rating
---------------------------------------------------------
Moody's Investors Service affirmed the ratings of Chiquita
Brands International, Inc. including its B3 corporate family
rating and B3 probability of default rating, following the
company's announcement that it is reviewing its capital
structure.  The rating outlook remains negative.

Ratings affirmed

   * Chiquita Brands International, Inc.

   -- Corporate family rating at B3;

   -- Probability of default rating at B3;

   -- US$250 million 7.5% senior unsecured notes due 2014 at
      Caa2 (LGD5, 89%);

   -- US$225 million 8.875% senior unsecured notes due 2015 at
      Caa2 (LGD5, 89%).

   * Chiquita Brands, LLC

   -- US$200 million senior secured revolving credit agreement
      at B1(LGD2,26%);

   -- Senior secured Term Loan C at B1(LGD2,26%);

   -- Rating withdrawn (debt repaid).

   * Chiquita Brands, LLC

   -- Senior unsecured Term Loan B at B1 (LGD2, 26%).

Chiquita is considering a potential amendment or refinancing of
its senior secured bank agreement and is also considering a
convertible senior unsecured note offering at the holding
company level.  Proceeds from the potential new convertible
issue will be used for the partial repayment of Term Loan C.
Upon issuance of convertible notes and application of proceeds
to Term Loan C, Moody's may upgrade the ratings of the company's
existing senior secured revolving credit and Term Loan C; upon
issuance of a senior unsecured convertible note at the holding
company, the amount of debt that is effectively subordinated to
the senior secured bank facility will increase while the amount
of senior secured bank debt will decline, resulting in a lower
expected loss on the bank debt.

The affirmation of the company's ratings is based on the fact
that fiscal year 2007 reported EBIT is expected to stabilize at
a level close to that of fiscal 2006, adding back certain non-
recurring charges in both years; and that the 2007 restructuring
is expected to generate cost savings of US$60 million to
US$80 million in fiscal 2008.

Chiquita's B3 corporate family rating incorporates the company's
weak credit metrics and challenged operating performance.
Ratings also reflect continued uncertainty with regard to long
term structural changes occurring in the company's key European
Union banana market such as greater competition following the
elimination of volume restrictions under a tariff only import
fee regime effective Jan. 1, 2006; the need to improve results
at the company's salads and healthy snacks to historical levels;
and continued pressure from rising input costs.  Ratings are
supported by Chiquita's solid franchise as one of the largest
global fresh fruit and vegetable companies with strong market
shares and good diversification in terms of product offerings,
geographic reach, and raw material supply.

Cincinnati, Ohio-based Chiquita Brands International Inc. --
http://www.chiquita.com/-- is a global producer and marketer of  
bananas, other fresh fruit and vegetables with revenues of
approximately US$4.7 billion for the fiscal year ended Dec. 31,
2007.

Chiquita employs approximately 25,000 people operating in more
than 70 countries worldwide, including Belgium, Colombia,
Germany, Panama, Philippines, among others.


CHIQUITA BRANDS: S&P's Ratings Held by Capital Structure Review
---------------------------------------------------------------
Standard & Poor's Ratings Services said that its ratings and
outlook on Chiquita Brands International Inc. (B-/Negative/--)
remain unchanged following the company's announcement that it is
reviewing its capital structure.  

Chiquita may amend or refinance its senior secured credit
facility, and may issue a convertible note offering (of at least
US$125 million) to repay a portion of the existing term loan C
(US$326 million was outstanding at Dec. 31, 2007).  In
connection with the proposed refinancing, Chiquita is seeking
consent from holders of the US$250 million 7.5% senior notes due
2014 to amend the terms of the indenture.  These actions are
intended to reduce the company's interest expense, extend
maturities, and provide additional covenant flexibility.

The company was in compliance with covenants under its existing
credit facility at Dec. 31, 2007, and expects to remain in
compliance.  Liquidity is currently adequate, with cash in
excess of US$70 million and US$169 million available on the
US$200 million revolver (reflecting US$31 million of letters of
credit outstanding) at Dec. 31, 2007.  S&P will review the
company's capital structure and financing proposals when and if
they occur.  While Chiquita expects operating income to improve
in 2008, the company continues to face a difficult operating
environment that includes higher industry and other costs, such
as fuel, raw product, materials and
production.


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


BALLY TECHNOLOGIES: Seminole Tribe to Get 2,000 Gaming Machines
---------------------------------------------------------------
Bally Technologies, Inc. has signed a three-year operating
agreement with the Seminole Tribe of Florida to provide an
initial order of 2,000 new Class III gaming machines for the
Seminole's seven casinos in Florida.

The company's agreement is part of the Seminole Tribe's initial
Class III gaming machine order following the Jan. 7, 2008,
approval of a new compact between the United States Department
of the Interior and Florida Governor Charlie Crist, that allows
Las Vegas-style slot machines and card games at the Seminole's
gaming facilities in Tampa, Hollywood, Immokalee,Coconut Creek,
Brighton, and Big Cypress.

"Bally has been a key strategic partner of the Seminole Tribe
for a number of years," said  Seminole Gaming Chief Executive
Officer, James Allen.  "We have been impressed with Bally's
momentum in both games and systems and are pleased they will be
playing an important part in our introduction of Las Vegas-style
slot machines with the placement of an initial order of 2,000
games."

"We are honored to be a part of this historic moment for the
Seminole Tribe of Florida as they move to a Class III, Las
Vegas-style gaming model," said Bally Technologies Chief
Executive Officer, Richard M. Haddrill.  "Bally has been
providing Class II games for the past five years now through our
subsidiary, Sierra Design Group, and we are also providing
casino management system technology including our iVIEW(TM)
interactive player display.  This has been a successful
collaboration that we only see continuing to evolve and prosper
as the Tribe implements our newest and most exciting Class III
games throughout its world-class casinos."

Players at the Seminole Hard Rock Casino in Hollywood will be
the first to play Bally's Class III games beginning at 11:30 am
EST on Monday, Jan. 28.  The company is providing an array of
high-performing video and stepper games, including Golden
Monkey(TM), a popular five-reel, 25-line video slot; Hot Shot
Progressive(TM); Quick Hit Platinum(TM) multi-level progressive;
and the Company's Millionaire Sevens(TM) multi-level
progressive.

                About Bally Technologies Inc.

Headquartered in Las Vegas, Nevada, Bally Technologies, Inc.
(NYSE: BYI) -- http://www.BallyTech.com/-- designs,
manufactures, operates, and distributes advanced gaming devices,
systems, and technology solutions worldwide.  Bally's product
line includes reel-spinning slot machines, video slots, wide-
area progressives and Class II lottery and central determination
games and platforms.  Bally Technologies also offers an array of
casino management, slot accounting, bonus, cashless, and table
management solutions.  The company also owns and operates
Rainbow Casino in Vicksburg, Mississippi.  The company's South
American operations are located in Argentina.  The company also
has operations in France, Germany, Macau, China, India, and the
United Kingdom.

                       *     *     *

As reported in the Troubled Company Reporter-Europe on
Dec. 28, 2007, Fitch Ratings upgraded Bally Technologies' Issuer
Default Rating and senior secured bank debt ratings as: IDR to
'B' from 'B-' and Secured bank credit facilities to 'BB/RR1'
from 'B/RR3'.


DELPHI CORP: Court Allows Committee Participation in Exit Loan
--------------------------------------------------------------
The Honorable Robert Drain of the U.S. Bankruptcy Court for the
Southern District of New York permits members of the Official
Committee of Unsecured Creditors and the Official Committee of
Equity Security Holders appointed in the bankruptcy cases of
Delphi Corp. and its debtor-affiliates to participate in any
syndicate of lenders assembled to provide exit financing
facilities for the Debtors' emergence from Chapter 11.

The Court directs all interested Statutory Committee members to:

   (a) to make advanced written disclosure of their
       participation in the Exit Loan Syndication to the
       Debtors, counsel to each of the Statutory Committees, and
       the U.S. Trustee;

   (b) withhold any information with his or her institution, or
       any lender or other party involved in the Exit Financing,
       related to the Debtors' or Statutory Committees' strategy
       regarding the Exit Financing; and

   (c) abstain from any direct negotiations with the Debtors or
       the Statutory Committees on the Exit Financing.

Participating Statutory Committee members will be screened on an
ongoing basis from any information relating to the Debtors' or
the Statutory Committees' strategy regarding, and any
deliberations by the applicable Statutory Committee in any
respect thereon, the Exit Financing, Judge Drain rules.

Nothing in the Court's order relieves any member of the
Statutory Committees from its obligations under any applicable
securities laws, Judge Drain clarifies.

As reported in the Troubled Company Reporter on Jan. 9, 2008,
the Debtors reduced their Exit Financing from the Court-approved
US$6.8 billion to US$6.1 billion.  The reduced facilities
include:

   (a) US$1.6 billion in an asset-backed revolving credit
       facility;

   (b) US$3.7 billion in a first-lien term loan facility; and

   (c) US$825 million in a second lien term loan facility.

                     About Delphi Corp.

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

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

The Court approved Delphi's First Amended Joint Disclosure
Statement and related solicitation procedures for the
solicitation of votes on the First Amended Plan on Dec. 20,
2007.  The Court confirmed the Debtors' First Amended Plan on
Jan. 25, 2008.

(Delphi Bankruptcy News, Issue No. 108; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000)

                          *     *     *

In early January 2008, Moody's Investors Service's assigned
ratings to Delphi Corporation for the company's financing for
emergence from Chapter 11 bankruptcy protection: Corporate
Family Rating of (P)B2; $3.7 billion of first lien term loans,
(P)Ba3; and $0.825 billion of 2nd lien term debt, (P)B3.  In
addition, a Speculative Grade Liquidity rating of SGL-2
representing good liquidity was assigned.  Moody's said the
outlook is stable.

Standard & Poor's Ratings Services meanwhile said that it
expects to assign its 'B' corporate credit rating to Delphi upon
the company's emergence from Chapter 11 bankruptcy protection,
which may occur by the end of the first quarter of 2008.  S&P
expects the outlook to be negative.

In addition, Standard & Poor's expects to assign these
issue-level ratings: a 'B+' issue rating (one notch above the
corporate credit rating), and '2' recovery rating to the
company's proposed $3.7 billion senior secured first-lien term
loan; and a 'B-' issue rating (one notch below the corporate
creditrating), and '5' recovery rating to the company's proposed
$825 million senior secured second-lien term loan.


DELPHI CORP: Court Grants Final Approval of MDL Settlements
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
entered a final order on Jan. 25, 2008, approving the
Multidistrict Litigation Settlements among the Debtors, General
Motors Corp., and the lead plaintiffs in securities actions and
lawsuits brought under the Employee Retirement Income Security
Act consolidated before the U.S. District Court for the Eastern
District Of Michigan, Southern Division.

Pursuant to the MDL Settlements, the Debtors agreed to grant the
Lead Plaintiffs and ERISA Plaintiffs claims under their First
Amended Joint Plan of Reorganization.  The Lead Plaintiffs are
the holders of Section 510(b) Note Claims under the Plan, while
the ERISA Plaintiffs are the holders of the Section 510(b)
Equity Claims.  In exchange, the Lead Plaintiffs and the ERISA
Plaintiffs will release the Debtors from any and all claims in
connection with the Securities Litigation.

The Hon. Robert Drain authorizes the Debtors to release any and
all of their claims against the current and former officers and
directors of Delphi Corp. that relate to or arise out of any
alleged violations of the federal securities laws during the
period March 7, 2000, through March 3, 2005, inclusive.

Judge Drain permits the Debtors and the other MDL Settlement
parties to make nonmaterial modifications to the MDL Settlements
without further Court order provided that the Official Committee
of Unsecured Creditors and the Official Committee of Equity
Security Holders do not lodge an objection to any proposed
modification within five business days' notice.

                     About Delphi Corp.

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

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

The Court approved Delphi's First Amended Joint Disclosure
Statement and related solicitation procedures for the
solicitation of votes on the First Amended Plan on Dec. 20,
2007.  The Court confirmed the Debtors' First Amended Plan on
Jan. 25, 2008.

(Delphi Bankruptcy News, Issue No. 109; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000)

                          *     *     *

In early January 2008, Moody's Investors Service's assigned
ratings to Delphi Corporation for the company's financing for
emergence from Chapter 11 bankruptcy protection: Corporate
Family Rating of (P)B2; $3.7 billion of first lien term loans,
(P)Ba3; and $0.825 billion of 2nd lien term debt, (P)B3.  In
addition, a Speculative Grade Liquidity rating of SGL-2
representing good liquidity was assigned.  Moody's said the
outlook is stable.

Standard & Poor's Ratings Services meanwhile said that it
expects to assign its 'B' corporate credit rating to Delphi upon
the company's emergence from Chapter 11 bankruptcy protection,
which may occur by the end of the first quarter of 2008.  S&P
expects the outlook to be negative.

In addition, Standard & Poor's expects to assign these
issue-level ratings: a 'B+' issue rating (one notch above the
corporate credit rating), and '2' recovery rating to the
company's proposed $3.7 billion senior secured first-lien term
loan; and a 'B-' issue rating (one notch below the corporate
creditrating), and '5' recovery rating to the company's proposed
$825 million senior secured second-lien term loan.


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


AUTOHAUS CORSO: Claims Registration Period Ends February 20
-----------------------------------------------------------
Creditors of Autohaus Corso GmbH have until Feb. 20, 2008, to
register their claims with court-appointed insolvency manager
Axel W. Bierbach.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on March 31, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Axel W. Bierbach
         Schwanthalerstr. 32
         80336 Munich
         Germany
         Tel: 54511-0
         Fax: 54511-444

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

The Debtor can be reached at:

         Autohaus Corso GmbH
         Friedenstr. 18a
         81671 Munich
         Germany


BAUSTOFF HANDELS: Claims Registration Period Ends February 20
-------------------------------------------------------------
Creditors of Baustoff- Handels- Gesellschaft mbH have until
Feb. 20, 2008, to register their claims with court-appointed
insolvency manager Daniela Hatschbach.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on March 12, 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 Bielefeld
         Hall 4065
         Fourth Floor
         Gerichtstrasse 66
         33602 Bielefeld
         Germany

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

The insolvency manager can be reached at:

         Daniela Hatschbach
         Hahler Str. 253
         32427 Minden
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against Baustoff- Handels- Gesellschaft mbH on Dec. 12, 2007.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Baustoff- Handels- Gesellschaft mbH
         Attn: Uta Kudlek, Manager
         Weststr. 33
         32425 Minden
         Germany


BD DIENSTLEISTUNGS: Claims Registration Period Ends February 26
---------------------------------------------------------------
Creditors of BD Dienstleistungs GmbH have until Feb. 26, 2008 to
register their claims with court-appointed insolvency manager
Michael C. Frege.

Creditors and other interested parties are encouraged to attend
the meeting at 8:50 a.m. on March 27, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Frankfurt/Main
         Hall 2
         Building F
         Klingerstrasse 20
         60313 Frankfurt/Main
         Germany    

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

The insolvency manager can be reached at:

         Michael C. Frege
         Barckhausstrasse 12-16
         60325 Frankfurt/Main
         Germany
         Tel: 069/71701-300
         Fax: 069/71701-40-410

The District Court of Frankfurt/Main opened bankruptcy
proceedings against BD Dienstleistungs GmbH on Jan. 18, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         BD Dienstleistungs GmbH
         Mainzer Landstrasse 164
         60327 Frankfurt am Main
         Germany


C&M SERVICE: Claims Registration Period Ends February 20
--------------------------------------------------------
Creditors of C. & M. Service + Dienstleistungs GmbH have until
Feb. 20, 2008, to register their claims with court-appointed
insolvency manager Joseph Albers.

Creditors and other interested parties are encouraged to attend
the meeting at 1:00 p.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 Essen
         Meeting Hall 293
         Second Floor
         Zweigertstr. 52
         45130 Essen
         Germany   

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

The insolvency manager can be reached at:

         Joseph Albers
         Von-der-Recke-Str. 5-7
         45879 Gelsenkirchen
         Germany

The District Court of Essen opened bankruptcy proceedings
against C. & M. Service + Dienstleistungs GmbH on Jan. 1, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         C. & M. Service + Dienstleistungs GmbH
         Attn:  Klaus Wolter, Manager
         Moellerstrasse 24b
         45966 Gladbeck
         Germany


CHEF DELICE: Claims Registration Period Ends February 20
--------------------------------------------------------
Creditors of Chef delice Bio- und Tiefkuehlspezialitaten GmbH
have until Feb. 20, 2008, to register their claims with court-
appointed insolvency manager Dr. Eckard Pongratz.

Creditors and other interested parties are encouraged to attend
the meeting at 2:00 p.m. on March 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 Mosbach
         Meeting Hall 12
         Lohrtalweg 2
         74821 Mosbach
         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. Eckard Pongratz
         Steinbachtal 2b
         97082 Wuerzburg
         Germany
         Tel: 0931/991560

The District Court of Mosbach opened bankruptcy proceedings
against Chef delice Bio- und Tiefkuehlspezialitaten GmbH on
Jan. 4, 2008.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Chef delice Bio- und Tiefkuehlspezialitaten GmbH
         Attn: Lorenz Armbruster, Manager
         Wolferstadter Weg 23
         97900 Kuelsheim
         Germany


EIKA WACHSWERKE: Files for Insolvency at Fulda Court
----------------------------------------------------
Eika Wachswerke Fulda GmbH has applied for opening of insolvency
proceedings at the District Court of Fulda, the Financial Times
reports, citing Frankfurter Allgemeine Zeitung as its source.

The court has appointed Sandra Mitter of Kanzlei Leonhardt,
Westhelle & Partner as interim insolvency administrator for the
company, pending approval of the insolvency filing.  

The interim insolvency administrator can be reached at:

         Sandra Mitter
         c/o Kanzlei Leonhardt, Westhelle & Partner
         Wilhelmshoeher Allee 270
         34131 Kassel
         Germany
         Tel: 0561/3166-311
         Fax: 0561/3166-312

Eika managing director Thomas Schunke said the company could no
longer pay its banks and suppliers, adding that it had too many
orders in hand and too few sales, FAZ relates.  Eika had
EUR40 million in annual turnover.

Mr. Schunke told FAZ that employees' salaries are guaranteed for
the next three months.

The Court is located at:

         The District Court of Fulda
         Hall 3100
         Koenigstrasse 38
         36037 Fulda
         Germany

The Debtor can be reached at:

         Eika Wachswerke Fulda GmbH
         An Vierzehnheiligen 19-25
         36039 Fulda
         Germany
         Web site: http://www.eika.de/


ERICH ROHDE: Negotiations with Square Four in Advanced Stage
------------------------------------------------------------
Carsten Koch, insolvency administrator of Erich Rohde KG, said
that German investment company Square Four will take over the
company, the Financial Times Ltd. reports, citing Handelsblatt.

Mr. Koch told Handelsblatt that takeover talks are at an
advanced stage and that the plan is centered on maintaining the
company.

Eric Rohde filed an insolvency petition before the District
Court of Marburg/Lahn on March 12, 2007 after it was
overburdened with costs arising from the partial closure of its
plant in Portugal, where 1,350 workers are employed.

Headquartered in Schwalmstadt, Germany, Eric Rhode KG is a shoe
manufacturer with operations in Austria and Portugal.  The
company employs approximately 1,950 coworkers.  It has an annual
turnover of EUR130 million.


FIT-GETRANKE VERTRIEBS: Claims Registration Ends February 20
------------------------------------------------------------
Creditors of Fit-Getranke Vertriebs-GmbH have until Feb. 20,
2008 to register their claims with court-appointed insolvency
manager Rolf Rombach.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on March 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 Meiningen
         Hall 208
         Lindenallee 15
         98617 Meiningen
         Germany

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

The insolvency manager can be reached at:

         Rolf Rombach
         Magdeburger Allee 159
         99086 Erfurt
         Germany

The District Court of Meiningen opened bankruptcy proceedings
against Fit-Getranke Vertriebs-GmbH on Jan. 1, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Fit-Getranke Vertriebs-GmbH
         Attn: Wolfgang Eberhard, Manager
         Bahnhofstr. 26 a
         99826 Mihla
         Germany


GABS DIENSTLEISTUNG: Claims Registration Ends February 20
---------------------------------------------------------
Creditors of GABS DIENSTLEISTUNG GmbH have until Feb. 20, 2008
to register their claims with court-appointed insolvency manager  
Rolf Otto Neukirchen.

Creditors and other interested parties are encouraged to attend
the meeting at 2:30 p.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 Essen
         Meeting Hall 293
         Second Floor
         Zweigertstr. 52
         45130 Essen
         Germany   

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

The insolvency manager can be reached at:

         Rolf Otto Neukirchen
         Zweigertstr. 28-30
         45130 Essen
         Germany

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

The Debtor can be reached at:

         GABS DIENSTLEISTUNG GmbH
         Attn: Stefan Weitzel, Manager
         Wilhelminenstr. 174
         45881 Gelsenkirchen
         Germany


GABS EUROTEACH: Claims Registration Ends February 20
----------------------------------------------------
Creditors of GABS "Euroteach" Qualifizierungs- und
Beschaftigungs gGmbH have until Feb. 20, 2008 to register their
claims with court-appointed insolvency manager Rolf Otto
Neukirchen.

Creditors and other interested parties are encouraged to attend
the meeting at 2:45 p.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 Essen
         Meeting Hall 293
         Second Floor
         Zweigertstr. 52
         45130 Essen
         Germany  

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

The insolvency manager can be reached at:

         Rolf Otto Neukirchen
         Zweigertstr. 28-30
         45130 Essen
         Germany

The District Court of Essen opened bankruptcy proceedings
against GABS "Euroteach" Qualifizierungs- und Beschaftigungs
gGmbH on Jan. 1, 2008.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be reached at:

         GABS "Euroteach" Qualifizierungs- und
         Beschaftigungs gGmbH
         Attn: Stefan Weitzel, Manager
         Wilhelminenstr. 174
         45881 Gelsenkirchen
         Germany


GABS GESELLSCHAFT: Claims Registration Ends February 20
-------------------------------------------------------
Creditors of GABS Gesellschaft fuer Arbeitsfoerderung,
berufliche Bildung und Soziokultur gem. GmbH have until Feb. 20,
2008 to register their claims with court-appointed insolvency
manager Rolf Otto Neukirchen.

Creditors and other interested parties are encouraged to attend
the meeting at 1:30 p.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 Essen
         Meeting Hall 293
         Second Floor
         Zweigertstr. 52
         45130 Essen
         Germany   

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

The insolvency manager can be reached at:

         Rolf Otto Neukirchen
         Zweigertstr. 28-30
         45130 Essen
         Germany

The District Court of Essen opened bankruptcy proceedings
against GABS Gesellschaft fuer Arbeitsfoerderung, berufliche
Bildung und Soziokultur gem. GmbH on Jan. 1, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         GABS Gesellschaft fuer Arbeitsfoerderung, berufliche
         Bildung und Soziokultur gem. GmbH
         Attn: Stefan Weitzel, Manager
         Wilhelminenstr. 174
         45881 Gelsenkirchen
         Germany


GABS KAUE: Claims Registration Ends February 20
-----------------------------------------------
Creditors of GABS "KAUE" Kultur- und Veranstaltungszentrum gGmbH
have until Feb. 20, 2008 to register their claims with court-
appointed insolvency manager Rolf Otto Neukirchen.

Creditors and other interested parties are encouraged to attend
the meeting at 3:00 p.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 Essen
         Meeting Hall 293
         Second Floor
         Zweigertstr. 52
         45130 Essen
         Germany  

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

The insolvency manager can be reached at:

         Rolf Otto Neukirchen
         Zweigertstr. 28-30
         45130 Essen
         Germany

The District Court of Essen opened bankruptcy proceedings
against GABS "KAUE" Kultur- und Veranstaltungszentrum gGmbH on
Jan. 1, 2008.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         GABS "KAUE" Kultur- und Veranstaltungszentrum gGmbH
         Attn: Stefan Weitzel, Manager
         Wilhelminenstr. 174
         45881 Gelsenkirchen
         Germany


GW GARTENBAU: Claims Registration Period Ends February 19
---------------------------------------------------------
Creditors of GW Gartenbau Waldenburg GmbH have until Feb. 19,
2008 to register their claims with court-appointed insolvency
manager Thomas Heilmann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on April 1, 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 Chemnitz
         Hall 24
         Fuerstenstrasse 21-23
         09130 Chemnitz
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

          Thomas Heilmann
          Barbarossastrasse 2
          09112 Chemnitz
          Tel: (0371) 4330044
          Fax: (0371) 4330049
          E-mail: www.Heilmann.LI

The District Court of Chemnitz opened bankruptcy proceedings
against GW Gartenbau Waldenburg GmbH on Jan. 2, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          GW Gartenbau Waldenburg GmbH
          Attn: Thomas Marschall, Manager
          Gartnereiweg 1
          08396 Waldenburg
          Germany


HIRSCH AG: Duesseldorf Court Commences Insolvency Proceedings
-------------------------------------------------------------
The District Court of Duesseldorf opened insolvency proceedings
against Hirsch AG on Jan. 24, 2008, and appointed Joerg Nerlich
as insolvency administrator.

Hirsch filed for insolvency after major shareholders failed to
agree to jointly finance the company's restructuring plan, the
Financial Times reports, citing Frankfurter Allgemeine Zeitung
as its source.

According to FAZ, the restructuring plan entails reducing
Hirsch's workforce by 60% and foresees EUR30 million in turnover
for fiscal year ended Oct. 31, 2008.

The company has also canceled the appointment of Claus Niehaus,
former manager as head of the management board, FAZ adds.  Mr.
Niehaus, however, will act in an advisory capacity for Hirsch.

The insolvency administrator can be reached at:

         Joerg Nerlich
         Louise-Dumont-Str. 25
         40211 Duesseldorf
         Germant

The court is located at:

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

The Debtor can be reached at:

         Hirsch AG
         Monschauer Strasse 11
         40549 Duesseldorf
         Germany

Hirsch AG -- http://www.hirsch-ag.de/-- manufactures womens'  
clothing inncluding produces dresses, skirts, blouses, trousers,
jackets, coats, suits and co-ordinates.


IDEA-DEIN HAUS: Claims Registration Period Ends February 19
-----------------------------------------------------------
Creditors of iDEA-Dein Haus Baupartner GmbH Leipzig have until
Feb. 19, 2008 to register their claims with court-appointed
insolvency manager Hans-Juergen Paul.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 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 Leipzig
          Hall 061
          Ground Floor
          Enforcement Court
          Bernhard Goering Strasse 64
          04275 Leipzig
          Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

          Hans-Juergen Paul
          Getzelauer Strasse 2
          04279 Leipzig
          Germany
          Tel: 0341/336090
          Fax: 0341/3360970
          E-mail: kanzlei@paul-inso.de  

The District Court of Leipzig opened bankruptcy proceedings
against iDEA-Dein Haus Baupartner GmbH Leipzig on Jan. 2, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          iDEA-Dein Haus Baupartner GmbH Leipzig
          Essener Strasse 39
          04357 Leipzig
          Germany


ITRA INTERNATIONALE: Claims Period Ends February 19
---------------------------------------------------
Creditors of ITRA - Internationale Transportgesellschaft mbH
have until Feb. 19, 2008 to register their claims with court-
appointed insolvency manager Dr. jur. Marco Liebler.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on March 11, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Kempten
         Hall 139/I
         Residenzplatz 4-6
         87435 Kempten
         Germany

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

The insolvency manager can be reached at:

         Dr. jur. Marco Liebler
         c/o Kanzlei Ott & Kollegen
         Nymphenburger Str. 139
         80636 Muenchen
         Tel: 089/120 260
         Fax: 089/120 261 27

The District Court of Kempten opened bankruptcy proceedings
against ITRA - Internationale Transportgesellschaft mbH on
Jan. 21, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         ITRA - Internationale Transportgesellschaft mbH
         Faulenseeweg 16
         87629 Fuessen
         Germany


KAY-EL GERMANY: Claims Registration Period Ends February 19
-----------------------------------------------------------
Creditors of Kay-El Germany GmbH have until Feb. 19, 2008 to
register their claims with court-appointed insolvency manager
Sebastian Henneke.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 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 Muenster
          Meeting Hall 101 B
          First Floor
          Gerichtsstr. 2-6
          48149 Muenster
          Germany

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

The insolvency manager can be reached at:

          Dr. Sebastian Henneke
          Adenauerallee 36
          46399 Bocholt
          Germany
          Tel: 028 71/2354877
          Fax: +4928712354879

The District Court of Muenster opened bankruptcy proceedings
against Kay-El Germany GmbH on Jan. 8, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

          Kay-El Germany GmbH
          Attn: Dr. Andreas Roepke, Manager
          Telingskamp 11
          46395 Bocholt
          Germany


MAY MEDICAL: Claims Registration Period Ends February 21
--------------------------------------------------------
Creditors of may medical GmbH Sanitatshaus have until
Feb. 21, 2008 to register their claims with court-appointed
insolvency manager Fatma Kreft.

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

The meeting of creditors will be held at:

         The District Court of Offenbach am Main
         Hall 162N
         First Floor
         Kaiserstrasse
         63065 Offenbach am Main
         Germany

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

The insolvency manager can be reached at:

         Fatma Kreft
         Neue Mainzer Str. 84
         60311 Frankfurt am Main
         Germany
         Tel: 069/6773677-0
         Fax: 069/6773677-20

The District Court of Offenbach am Main opened bankruptcy
proceedings against may medical GmbH Sanitatshaus on
Jan. 21, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         may medical GmbH Sanitatshaus
         Frankfurter Str. 25
         63500 Seligenstadt
         Germany

         Attn: Kristina May, Manager
         Silcherstr. 23
         60529 Frankfurt am Main
         Germany


NSL GMBH: Claims Registration Period Ends February 22
-----------------------------------------------------
Creditors of NSL GmbH Fahrzeugbau u. Bremsendienst have until
Feb. 22, 2008 to register their claims with court-appointed
insolvency manager Dr. Heinz Dieter Klein.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on March 18, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

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

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

The insolvency manager can be reached at:

         Dr. Heinz Dieter Klein
         Am Waldpark 11
         50996 Koeln
         Germany

The District Court of Cologne opened bankruptcy proceedings
against NSL GmbH Fahrzeugbau u. Bremsendienst on Jan. 14, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         NSL GmbH Fahrzeugbau u. Bremsendienst
         Dornierstr. 3
         51381 Leverkusen
         Germany

         Attn: Birgit Pohlmann, Manager
         Am Solperts Garten 9
         40764 Langenfeld
         Germany


PIN GROUP: Creditor Claim Forces Parent to File for Insolvency
--------------------------------------------------------------
PIN Group S.A., parent company of PIN Group AG, filed for
insolvency at District Court of Cologne on Jan. 25, 2008, to
defer payment of a EUR1.5 million claim to a creditor, the
Financial Times reports.

The insolvency filing follows similar steps taken by PIN Group
AG's 37 local units.  As reported in the TCR-Europe on Jan. 29,
2008, 19 more units is expected to file for insolvency this
week.

Company spokesman Thomas Schulz stressed to Frankfurter
Allgemeine Zeitung that the filings were part of the company's
effort to restructure and save as many jobs as possible.

As reported in the TCR-Europe on Jan. 29, 2008, The Blackstone
Group, Kohlberg Kravis Roberts & Co., and Advent International
Corp. are holding preliminary sale talks with PIN Group
management board chairman Horst Piepenburg.

Mr. Schulz told Suddeutsche Zeitung that the talks need to be
concluded by end-February, when PIN Group is expected to exhaust
its funds.  PIN Group will open its books to interested
investors next week.

                        About PIN Group AG

Headquartered in Luxembourg, PIN Group AG
-- http://www.pin-group.net/-- provides postal services across  
Germany.  The group has more than 60 regional subsidiaries, and
in 2006 became a national integrated provider by setting up an
efficient nationwide distribution network.

As previously reported in the TCR-Europe report, PIN Group's
units filed for insolvency after Axel Springer AG, which holds a
71% stake, decided to stop funding the company.  Axel Springer
said the business in unviable following the German government's
decision to introduce minimum wages of EUR8-EUR9.80 for the
postal industry, which would PIN, which has 9,000 employees, up
to EUR45 million, although "most of the costs are expected to be
covered by a form of state reimbursement."


REINHARD FENGE: Claims Registration Period Ends February 19
-----------------------------------------------------------
Creditors of Reinhard Fenge Abbruch-und Baggerarbeiten GmbH have
until Feb. 19, 2008 to register their claims with court-
appointed insolvency manager Barbara Fahlke.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 a.m. on April 1, 2008, at which time the
insolvency manager will present her first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Osnabrueck
         Hall N 302
         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:

          Barbara Fahlke
          Neubrueckenstrasse 35/37
          48143 Muenster
          Germany
          Tel: 0251/4842316
          Fax: 0251/4843614

The District Court of Osnabrueck opened bankruptcy proceedings
against Reinhard Fenge Abbruch-und Baggerarbeiten GmbH on Jan.
4, 2008.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

          Reinhard Fenge Abbruch-und Baggerarbeiten GmbH
          Osnabruecker Str. 37
          49176 Hilter
          Germany


SIAN VERWALTUNGS: Claims Registration Period Ends March 11
----------------------------------------------------------
Creditors of SiAn Verwaltungs GmbH have until March 11 to
register their claims with court-appointed insolvency manager
Dr. Romy Metzger.

Creditors and other interested parties are encouraged to attend
the meeting at 1:00 p.m. on April 1, 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 Erfurt
         Hall 12
         Rudolfstr. 46
         99092 Erfurt
         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. Romy Metzger
         Steigerstr. 30
         99096 Erfurt
         Germany

The District Court of Erfurt opened bankruptcy proceedings
against SiAn Verwaltungs GmbH on Jan. 21, 2008.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         SiAn Verwaltungs GmbH
         Attn: Thomas Siegel, Manager
         Zum Hirtenberg 23
         98716 Geraberg
         Germany


STEFAN NIENABER: Claims Registration Period Ends February 19
------------------------------------------------------------
Creditors of Stefan Nienaber Bau GmbH have until Feb. 19, 2008
to register their claims with court-appointed insolvency manager
Hartmut Stange.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 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 Bielefeld
         Hall 4065
         Fourth Floor
         Gerichtstrasse 66
         33602 Bielefeld
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

          Dr. Hartmut Stange
          Adenauerplatz 4
          33602 Bielefeld
          Germany

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

The Debtor can be reached at:

          Stefan Nienaber Bau GmbH
          Attn: Stefan Nienaber, Manager
          Huetemersch 7 a
          33442 Herzebrock-Clarholz
          Germany


WARME-CONZEPT: Claims Registration Period Ends February 19
----------------------------------------------------------
Creditors of Warme-Conzept GmbH have until Feb. 19, 2008, to
register their claims with court-appointed insolvency manager
Andreas Buss.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on March 31, 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 Schwerin
         Hall 7
         Demmlerplatz 14
         19053 Schwerin
         Germany

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

The insolvency manager can be reached at:

         Andreas Buss
         Beethovenstrasse 2a
         18209 Bad Doberan
         Germany

The District Court of Schwerin opened bankruptcy proceedings
against Warme-Conzept GmbH on Jan. 7, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Warme-Conzept GmbH
         Attn: Bernd Voigtlander
         Am Schilde 7a
         23966 Wismar
         Germany


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


PROPEX INC: Section 341(a) Creditors Meeting Slated for March 4
---------------------------------------------------------------
Richard F. Clippard, the United States Trustee for Region 8,
will convene a meeting of the creditors of Propex, Inc.,
and its debtor subsidiaries at 10:00 a.m., on March 4, 2008, at
Basement Room 18, U. S. Bankruptcy Court, at 31 East 11th
Street, in Chattanooga, Tennessee.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in the Debtors' bankruptcy cases.

Attendance by the Debtors' creditors at the meeting is welcome,
but not required.  The Sec. 341(a) meeting offers the creditors
a one-time opportunity to examine the Debtors' representative
under oath about the Debtors' financial affairs and operations
that would be of interest to the general body of creditors.

Headquartered in Chattanooga, Tennessee, Propex Inc. --
http://www.propexinc.com/-- produces geosynthetic, concrete,
furnishing, and industrial fabrics and fiber.  It is produces
primary and secondary carpet backing.  Propex operates in
Brazil, Mexico, Germany, Hungary, and the United Kingdom.

The company and its debtor-affiliates filed for Chapter 11
protection on Jan. 18, 2008 (Bankr. E.D. Tenn. Case No. 08-
10249).  The debtors' has selected Edward L. Ripley, Esq., Henry
J. Kaim, Esq., and Mark W. Wege, Esq. at King & Spalding, in
Houston, Texas, to represent them.  As of Sept. 30, 2007, the
debtors' balance sheet showed total assets of US$585,700,000 and
total debts of US$527,400,000.  (Propex Bankruptcy News, Issue
No. 4; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


PROPEX INC: U.S. Trustee Appoints Five-Member Creditors' Panel
--------------------------------------------------------------
Richard F. Clippard, the United States Trustee for Region 8,
appoints five members to the Official Committee of Unsecured
Creditors of the Chapter 11 cases of Propex, Inc., and its
affiliates.
        
The Creditors Committee members are:
        
   1. Wilmington Trust Company
      Attn: James J. McGinley, Managing Director
      520 Madison Avenue, 33rd floor
      New York, N.Y. 10022
      Tel No.: 212-415-0522
      Fax No.: 212-415-0513
      Cell No.: 917-446-0136
        
   2. Pension Benefit Guaranty Corporation
      Attn: Christopher Gran, Financial Analyst
      1200 K Street, N.W., Suite 240
      Washington, D. C 20005
      Tel no.: 202-326-4070 ext. 3405
               or 800-400-7242 ext. 3405
        
   3. TOTAL PETROCHEMICALS USA, Inc.
      Attn: Joel Anderson, Corporate Credit Manager
      1201 Louisiana Street, Suite 1800
      Houston, TX 77002
      Tel No.: 713-483-5271
      Fax No.: 713-483-5759
        
   4. BP Corporation North America Inc.
      Attn: Matt Linford
      4101 Winfield Road
      Warrenville, IL 60504
      Tel No.: 630-821-3227
      Fax No.: 630-821-3420
        
   5. SMH Capital Advisors, Inc.
      Attn: Stephen Cooke
      4800 Overton Plaza, Suite 300
      Fort Worth, TX 76109
      Tel No.: 817-731-9559 ext. 248
      Fax No.: 817-731-4641

The U.S. Trustee has scheduled an Organizational Meeting of the
Committee for Wednesday, January 30, 2008, at 1:30 p.m., at the
Miller & Martin Conference Room, 5th Floor, Volunteer Building,
at 832 Georgia Avenue, in Chattanooga, Tennessee.

Headquartered in Chattanooga, Tennessee, Propex Inc. --
http://www.propexinc.com/-- produces geosynthetic, concrete,
furnishing, and industrial fabrics and fiber.  It is produces
primary and secondary carpet backing.  Propex operates in
Brazil, Mexico, Germany, Hungary, and the United Kingdom.

The company and its debtor-affiliates filed for Chapter 11
protection on Jan. 18, 2008 (Bankr. E.D. Tenn. Case No. 08-
10249).  The debtors' has selected Edward L. Ripley, Esq., Henry
J. Kaim, Esq., and Mark W. Wege, Esq. at King & Spalding, in
Houston, Texas, to represent them.  As of Sept. 30, 2007, the
debtors' balance sheet showed total assets of US$585,700,000 and
total debts of US$527,400,000.  (Propex Bankruptcy News, Issue
No. 4; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


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


ALTERNATIVA 2007: Proof of Claim Deadline Slated for March 4
------------------------------------------------------------  
LLP Alternativa 2007 has declared insolvency.  Creditors have
until March 4 to submit written proofs of claims to:

         LLP Alternativa 2007
         Sadvakasov Str. 44-25
         Kokshetau
         Akmola
         Kazakhstan


EXPRESS UNITS: Creditors Must File Claims by March 4
----------------------------------------------------  
LLP Express Units has declared insolvency.  Creditors have until
March 4 to submit written proofs of claims to:

         LLP Express Units
         Abai Str. 1-22
         Otegen batyr
         Ilyisky District
         Almaty
         Kazakhstan


KAINAR KUS: Claims Filing Period Ends March 4
---------------------------------------------  
JSC Kainar Kus has declared insolvency.  Creditors have until
March 4 to submit written proofs of claims to:

         JSC Kainar Kus
         Kainar
         Ordabasinsky District
         South Kazakhstan
         Kazakhstan


MIRNY OJSC: Creditors' Claims Due on February 28
------------------------------------------------  
The Specialized Inter-Regional Economic Court of Karaganda has
declared OJSC Mirny insolvent.

Creditors have until Feb. 28, 2008 to submit written proofs of
claims to:

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


OIL STROY: Claims Registration Ends March 4
-------------------------------------------  
LLP Oil Stroy Vuz has declared insolvency.  Creditors have until
March 4 to submit written proofs of claims to:

         LLP Oil Stroy Vuz
         Jubanovyh Str. 302a
         Aktobe
         Aktube
         Kazakhstan


PRINT SERVICE: Proof of Claim Deadline Slated for March 4
---------------------------------------------------------  
LLP Print Service has declared insolvency.  Creditors have until
March 4 to submit written proofs of claims to:

         LLP Print Service
         Abai Str. 68-70
         Almaty
         Kazakhstan


SENEKA PLUS: Creditors Must File Claims by February 28
------------------------------------------------------  
The Tax Committee of Almaty has ordered the compulsory
liquidation of JSC Seneka Plus (RNN 061800226120).

Creditors have until Feb. 28, 2008 to submit written proofs of
claims to:

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


SHYGYS TRANS: Claims Filing Period Ends March 4
-----------------------------------------------  
LLP Shygys Trans Terminal has declared insolvency.  Creditors
have until March 4 to submit written proofs of claims to:

         LLP Shygys Trans Terminal
         Vostochny 6
         Semipalatinsk
         East Kazakhstan
         Kazakhstan


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


CHUISKOYE PREDPRIYATIE: Creditors Must File Claims by Feb. 15
-------------------------------------------------------------
LLC Chuiskoye Predpriyatie Spets Oborudovaniya has declared
insolvency.  Creditors have until Feb. 15, 2008 to submit
written proofs of claim.

Inquiries can be addressed to (+996 312) 69-88-20.


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


HUNTSMAN CORP: Agrees to Extend Review Period for Hexion Merger
---------------------------------------------------------------
Hexion Specialty Chemicals and Huntsman Corporation have agreed
to allow additional time for the Federal Trade Commission to
review the proposed merger of the two companies.  As a result,
the merger is not expected to close before May 3.

To accommodate the extension, Hexion has also given notice to
Huntsman that on April 5, it will exercise its option to extend
the Termination Date under the Merger Agreement for 90 days, and
thus, if the conditions to Hexion's extension right are met on
April 5, the termination date under the Merger Agreement will be
extended until July 4, 2008.

"This extension is not unusual in a transaction of this size
involving numerous global locations," said Craig O. Morrison,
Hexion's Chairman and Chief Executive Officer.  "We are fully
cooperating with regulatory agencies and will continue to work
closely with Huntsman and the agencies in order to obtain the
regulatory approvals required to complete the merger."

Hexion announced on July 12, 2007, that it had entered into a
definitive agreement to acquire Huntsman Corporation in an all-
cash transaction valued at approximately US$10.6 billion,
including the assumption of debt.  The transaction was approved
by Huntsman shareholders on Oct. 16, 2007 and is subject to
customary closing conditions, including regulatory approval in
the U.S. and several other countries.

                   About Hexion Specialty

Based in Columbus, Ohio, Hexion Specialty Chemicals Inc. --
http://www.hexion.com/-- serves the global wood and industrial
markets through a broad range of thermoset technologies,
specialty products and technical support for customers in a
diverse range of applications and industries.  Hexion Specialty
Chemicals is owned by an affiliate of Apollo Management, L.P.
The company has locations in China, Australia, Netherlands, and
Brazil. It is an Apollo Management L.P. portfolio company.
Hexion had 2006 sales of US$5.2 billion and employs more than
7,000 associates.

                      About Huntsman

Huntsman Corp. -- http://www.huntsman.com/-- manufactures and
markets differentiated and commodity chemicals.  Its operating
companies manufacture products for a variety of global
industries including chemicals, plastics, automotive, aviation,
textiles, footwear, paints and coatings, construction,
technology, agriculture, health care,  detergent, personal care,
furniture, appliances and packaging.  Originally known for
pioneering innovations in packaging and, later for rapid and
integrated growth in petrochemicals, Huntsman today has
operations in 24 countries, including Argentina, Belarus,
Japan, Luxembourg, Malaysia, Spain and teh United Kingdom, among
others.  The company had 2006 revenues from all operations of
over US$13 billion.

                       *     *     *

In June 2007, Moody's Investors Service placed the debt ratings
and the corporate family ratings (CFR -- Ba3) for Huntsman
Corporation and Huntsman International LLC, a subsidiary of
Huntsman under review for possible downgrade.


HUNTSMAN CORP: Hexion to Exercise Rights on Merger Extension
------------------------------------------------------------
Huntsman Corporation has received notice from Hexion Specialty
Chemicals, Inc. that the company will exercise its right under
Section 7.1(b)(ii) of the Agreement and Plan of Merger dated
July 12, 2007, to extend the Termination Date by 90 days from
April 5 to July 4, 2008.

Huntsman and Hexion had previously announced on Oct. 4, 2007,
that each had received a request for additional information from
the Federal Trade Commission under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended.  Huntsman Corp.
and Hexion Specialty have agreed with the Commission to allow
the FTC additional time to review the merger, such that the
merger is not expected to close before May 3, 2008.  Both
companies also continue to work closely with regulatory agencies
in other jurisdictions, including the European Union.

Hunstman President and Chief Executive Officer, Peter Huntsman
noted, "This extension was clearly contemplated by the terms of
the merger agreement that we entered into with Hexion last July.  
We continue to work diligently with Hexion and its advisors to
secure the regulatory approvals that are necessary to close the
transaction."

Under the terms of the Merger Agreement, the US$28.00 per common
share cash price to be paid by Hexion upon any completion of the
merger that occurs after April 5, 2008, will be increased at the
rate of 8% per annum (inclusive of any dividends paid) beginning
on April 5, 2008.

                   About Hexion Specialty

Based in Columbus, Ohio, Hexion Specialty Chemicals Inc. --
http://www.hexion.com/-- serves the global wood and industrial
markets through a broad range of thermoset technologies,
specialty products and technical support for customers in a
diverse range of applications and industries.  Hexion Specialty
Chemicals is owned by an affiliate of Apollo Management, L.P.
The company has locations in China, Australia, Netherlands, and
Brazil. It is an Apollo Management L.P. portfolio company.
Hexion had 2006 sales of US$5.2 billion and employs more than
7,000 associates.

                      About Huntsman

Huntsman Corp. -- http://www.huntsman.com/-- manufactures and
markets differentiated and commodity chemicals.  Its operating
companies manufacture products for a variety of global
industries including chemicals, plastics, automotive, aviation,
textiles, footwear, paints and coatings, construction,
technology, agriculture, health care,  detergent, personal care,
furniture, appliances and packaging.  Originally known for
pioneering innovations in packaging and, later for rapid and
integrated growth in petrochemicals, Huntsman today has
operations in 24 countries, including Argentina, Belarus,
Japan, Luxembourg, Malaysia, Spain and teh United Kingdom, among
others.  The company had 2006 revenues from all operations of
over US$13 billion.

                       *     *     *

In June 2007, Moody's Investors Service placed the debt ratings
and the corporate family ratings (CFR -- Ba3) for Huntsman
Corporation and Huntsman International LLC, a subsidiary of
Huntsman under review for possible downgrade.


PIN GROUP: Creditor Claim Forces Parent to File for Insolvency
--------------------------------------------------------------
PIN Group S.A., parent company of PIN Group AG, filed for
insolvency at District Court of Cologne on Jan. 25, 2008, to
defer payment of a EUR1.5 million claim to a creditor, the
Financial Times reports.

The insolvency filing follows similar steps taken by PIN Group
AG's 37 local units.  As reported in the TCR-Europe on Jan. 29,
2008, 19 more units is expected to file for insolvency this
week.

Company spokesman Thomas Schulz stressed to Frankfurter
Allgemeine Zeitung that the filings were part of the company's
effort to restructure and save as many jobs as possible.

As reported in the TCR-Europe on Jan. 29, 2008, The Blackstone
Group, Kohlberg Kravis Roberts & Co., and Advent International
Corp. are holding preliminary sale talks with PIN Group
management board chairman Horst Piepenburg.

Mr. Schulz told Suddeutsche Zeitung that the talks need to be
concluded by end-February, when PIN Group is expected to exhaust
its funds.  PIN Group will open its books to interested
investors next week.

                        About PIN Group AG

Headquartered in Luxembourg, PIN Group AG
-- http://www.pin-group.net/-- provides postal services across  
Germany.  The group has more than 60 regional subsidiaries, and
in 2006 became a national integrated provider by setting up an
efficient nationwide distribution network.

As previously reported in the TCR-Europe report, PIN Group's
units filed for insolvency after Axel Springer AG, which holds a
71% stake, decided to stop funding the company.  Axel Springer
said the business in unviable following the German government's
decision to introduce minimum wages of EUR8-EUR9.80 for the
postal industry, which would PIN, which has 9,000 employees, up
to EUR45 million, although "most of the costs are expected to be
covered by a form of state reimbursement."


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


BLACKBOARD INC: Earns US$3.3 Million in 2007 Third Quarter
----------------------------------------------------------
Blackboard Inc. reported net income of US$3.3 million for the
third quarter ended Sept. 30, 2007, compared to a net loss of
US$4.8 million for the third quarter of 2006.  Non-GAAP adjusted
net income for the third quarter of 2007, which excludes the
amortization of acquisition-related intangible assets, net of
taxes, was US$6.6 million, compared to non-GAAP adjusted net
loss of US$846,000 for the third quarter of 2006.

Total revenue for the quarter ended Sept. 30, 2007, was
US$61.6 million, an increase of 22.0% over the third quarter of
2006.  Product revenues for the quarter were US$54.0 million, an
increase of 24.0% over the third quarter of 2006, while
professional services revenues for the quarter were US$7.6
million, an increase of 9.0% over the third quarter of 2006.

"During the quarter, we realized strong revenue and earnings
performance and generated operating cash flow in excess of
US$38.0 million," said Michael Chasen, chief executive officer
and  president of Blackboard Inc.  "These results combined with
our outlook for the fourth quarter put us on track to have
another record year with revenue expected to exceed US$237.0
million and cash flow of approximately US$60.0 million.  Our
continued financial success is giving us the opportunity to
invest more meaningfully in our business, particularly in
ongoing product development and client support."

                 Liquidity and Capital Resources

At Sept. 30, 2007, the company had cash and cash equivalents
totalling US$208.0 million, as compared to US$30.8 million at
Dec. 31, 2006.  The increase in cash and cash equivalents was
primarily due to a convertible debt offering in which the
company issued and sold US$165.0 million aggregate of the 3.25%
Convertible Senior Notes due 2027.

The company used a portion of the proceeds to terminate and
satisfy in full its existing indebtedness outstanding pursuant
to the senior secured credit facilities agreement, entered into
in connection with the acquisition of WebCT, of US$19.4 million
and to pay all fees and expenses incurred in connection with the
termination.

The Notes bear interest at a rate of 3.25% per year on the
principal amount, accruing from June 20, 2007.  Interest is
payable semi-annually on January 1 and July 1, commencing on
Jan. 1, 2008.  The Notes will mature on July 1, 2027, subject to
earlier conversion, redemption or repurchase.

                          Balance Sheet

At Sept. 30, 2007, the company's consolidated financial
statements showed US$493.3 million in total assets, US$318.9
million in total liabilities, and US$174.4 million in total
liabilities.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available
for free at http://researcharchives.com/t/s?277c

                       About Blackboard Inc.

Headquartered in Washington D.C., Blackboard Inc. (Nasdaq: BBBB)  
-- http://www.blackboard.com/-- is a provider of enterprise  
software applications and related services to the education
industry.  Founded in 1997, Blackboard's software applications
are used by colleges, universities, K-12 schools and other
education providers, as well as textbook publishers and student-
focused merchants that serve education providers and their
students.  Blackboard has offices in North America, the
Netherlands, Australia, and China.

                          *     *     *

As reported in the Troubled Company Reporter-Europe on Jan, 17,
2008, Standard & Poor's Ratings Services said its ratings and
outlook on Blackboard Inc. (B+/Positive/--) would not be
affected by the company's announced acquisition of The NTI Group
Inc., a provider of mass notification systems to schools, for
US$182 million, of which US$132 million will be in cash and the
remaining amount will be in common stock.  


FLOWSERVE CORP: Bags Major Pump Deal from China Nuclear Power
-------------------------------------------------------------
Flowserve Corporation has been selected to provide the China
Nuclear Power Engineer Co., Ltd. with concrete volute pumps for
the first phases of both the Hongyanhe and Ningde Nuclear Power
Plant projects.  The order is estimated to be between US$25 and
US$30 million.

The company has been processing the order and expects the
bookings to be reflected this quarter.

Hongyanhe is the first nuclear power project to be built in
northeast China and is located in Dalian City, Liaoning
Province.  A total of six generating units are planned for the
site, which will be constructed in several phases.  The first
phase, which will include two generating units, is scheduled to
be completed in 2011.

The Ningde nuclear power project is located in Qinyu Town,
Ningde City, Fujian Province.  This plant will have six units
that will be constructed in three phases.  The first phase of
the project will include two units and has an estimated
completion date of 2012.

"This contract is a result of Flowserve's focus on the nuclear
power market in China," said Flowserve Pump Division President
Tom Ferguson.  "Our Flowserve Changsha joint venture worked
closely with our partner Changsha Pump Works on the plan for
local manufacturing, which positions us well in this growth
market as China adds nuclear power generating capacity over the
next two decades."

China plans to significantly increase the country's installed
nuclear power to approximately four percent of the country's
total installed capacity by 2020.  To reach this goal, China
must build about 32 nuclear power units, of the size of the
planned Hogyanhe and Ningde projects in the next 15 years,
according to the Chinese National Development and Reform
Commission.

The Hongyanhe Nuclear Power Plant project is a joint venture
among China Guangdong Nuclear Power Holding Co., Ltd., China
Power Investment Corporation and Liaoning Construction
Investment Group.  The Ningde Nuclear project is a joint venture
of Guangdong Nuclear Power Investment Co., Ltd. and Datang
International Power Generation Co., Ltd. CGNPC will be
responsible for the project construction and the operation of
the first five years after commercial operation with
participation from CPIC.

           About China Guangdong Nuclear Power

China Nuclear Power Holding Co., Ltd. was established in
September 1994 with a registered capital of RMB10.2 billion.
Nuclear power is the core business.  China Guangdong Nuclear
Power Group (CGNPG) is the parent company of CGNPC, with
total assets of RMB60.2 billion and net assets valued at RMB26.3
billion, as of Feb. 28, 2007.

                     About Flowserve

Headquartered in Irving, Texas, Flowserve Corp. (NYSE: FLS) --
http://www.flowserve.com/-- provides fluid motion and control
products and services.  Operating in 56 countries, the company
produces engineered and industrial pumps, seals and valves as
well as a range of related flow management services.   Flowserve
has operations in Dominican Republic, Guatemala, Guyana, Belize,
Belgium, Netherlands, Indonesia, Singapore, Japan, among others.

                       *     *     *

As reported in the Troubled Company Reporter-Europe on
Aug. 16, 2007, Moody's Investors Service affirmed Flowserve
Corporation's corporate family rating at Ba3 and probability of
default at B1.  Moody's also affirmed the Ba2 rating to the
company's senior secured term loan and assigned a Ba2 rating to
Flowserve's senior secured revolving credit facility.


HEXION SPECIALTY: Okays Extension of Review Period for Merger
-------------------------------------------------------------
Hexion Specialty Chemicals and Huntsman Corporation have agreed
to allow additional time for the Federal Trade Commission to
review the proposed merger of the two companies.  As a result,
the merger is not expected to close before May 3.

To accommodate the extension, Hexion has also given notice to
Huntsman that on April 5, it will exercise its option to extend
the Termination Date under the Merger Agreement for 90 days, and
thus, if the conditions to Hexion's extension right are met on
April 5, the termination date under the Merger Agreement will be
extended until July 4, 2008.

"This extension is not unusual in a transaction of this size
involving numerous global locations," said Craig O. Morrison,
Hexion's Chairman and Chief Executive Officer.  "We are fully
cooperating with regulatory agencies and will continue to work
closely with Huntsman and the agencies in order to obtain the
regulatory approvals required to complete the merger."

Hexion announced on July 12, 2007, that it had entered into a
definitive agreement to acquire Huntsman Corporation in an all-
cash transaction valued at approximately US$10.6 billion,
including the assumption of debt.  The transaction was approved
by Huntsman shareholders on Oct. 16, 2007 and is subject to
customary closing conditions, including regulatory approval in
the U.S. and several other countries.

                      About Huntsman

Huntsman Corp. -- http://www.huntsman.com/-- manufactures and
markets differentiated and commodity chemicals.  Its operating
companies manufacture products for a variety of global
industries including chemicals, plastics, automotive, aviation,
textiles, footwear, paints and coatings, construction,
technology, agriculture, health care,  detergent, personal care,
furniture, appliances and packaging.  Originally known for
pioneering innovations in packaging and, later for rapid and
integrated growth in petrochemicals, Huntsman today has
operations in 24 countries, including Argentina, Belarus,
Japan, Luxembourg, Malaysia, Spain and teh United Kingdom, among
others.  The company had 2006 revenues from all operations of
over US$13 billion.

                   About Hexion Specialty

Based in Columbus, Ohio, Hexion Specialty Chemicals Inc. --
http://www.hexion.com/-- serves the global wood and industrial
markets through a broad range of thermoset technologies,
specialty products and technical support for customers in a
diverse range of applications and industries.  Hexion Specialty
Chemicals is owned by an affiliate of Apollo Management, L.P.
The company has locations in China, Australia, Netherlands, and
Brazil. It is an Apollo Management L.P. portfolio company.
Hexion had 2006 sales of US$5.2 billion and employs more than
7,000 associates.

                       *     *     *

Moody's Investor Service placed Hexion Specialty Chemicals
Inc.'s senior secured debt rating at 'B3', long term corporate
family and probability of default ratings at 'B2' in July 2007.  
The ratings still hold to date.


HEXION SPECIALTY: To Exercise Rights Over Merger Deal Extension
---------------------------------------------------------------
Huntsman Corporation has received notice from Hexion Specialty
Chemicals, Inc. that the company will exercise its right under
Section 7.1(b)(ii) of the Agreement and Plan of Merger dated
July 12, 2007, to extend the Termination Date by 90 days from
April 5 to July 4, 2008.

Huntsman and Hexion had previously announced on Oct. 4, 2007,
that each had received a request for additional information from
the Federal Trade Commission under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended.  Huntsman Corp.
and Hexion Specialty have agreed with the Commission to allow
the FTC additional time to review the merger, such that the
merger is not expected to close before May 3, 2008.  Both
companies also continue to work closely with regulatory agencies
in other jurisdictions, including the European Union.

Hunstman President and Chief Executive Officer, Peter Huntsman
noted, "This extension was clearly contemplated by the terms of
the merger agreement that we entered into with Hexion last July.  
We continue to work diligently with Hexion and its advisors to
secure the regulatory approvals that are necessary to close the
transaction."

Under the terms of the Merger Agreement, the US$28.00 per common
share cash price to be paid by Hexion upon any completion of the
merger that occurs after April 5, 2008, will be increased at the
rate of 8% per annum (inclusive of any dividends paid) beginning
on April 5, 2008.

                      About Huntsman  

Huntsman (NYSE: HUN) -- http://www.huntsman.com/-- is a global
manufacturer and marketer of differentiated chemicals.  Its
operating companies manufacture products for a variety of global
industries, including chemicals, plastics, automotive, aviation,
textiles, footwear, paints and coatings, construction,
technology, agriculture, health care, detergent, personal care,
furniture, appliances and packaging. Originally known for
pioneering innovations in packaging and, later, for rapid and
integrated growth in petrochemicals, Huntsman has 13,000
employees and operates from multiple locations worldwide.  The
company had 2006 revenues of over US$13 billion.

                  About Hexion Specialty

Based in Columbus, Ohio, Hexion Specialty Chemicals Inc. --
http://www.hexion.com/-- serves the global wood and industrial
markets through a broad range of thermoset technologies,
specialty products and technical support for customers in a
diverse range of applications and industries.  Hexion Specialty
Chemicals is owned by an affiliate of Apollo Management, L.P.  
The company has locations in Singapore, China, Australia,
Netherlands, and Brazil.  It is an Apollo Management L.P.
portfolio company.  Hexion had 2006 sales of US$5.2 billion and
employs more than 7,000 associates.

                       *     *     *

Moody's Investor Service placed Hexion Specialty Chemicals
Inc.'s senior secured debt rating at 'B3', long term corporate
family and probability of default ratings at 'B2' in July 2007.  
The ratings still hold to date.


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


AFFILIATED COMPUTER: Renews IT Contract with Northamption County
----------------------------------------------------------------
Affiliated Computer Services, Inc. has renewed a contract with
Northampton County, Pennsylvania, to provide information
technology services.  The contract has a length of up to six
years and a total value of US$13 million if all options are
exercised.

Affiliated Computer has provided IT services to Northampton
County since 1979.  The company was awarded the renewed contract
through a competitive bid process.

"ACS has a long-standing track record of providing tremendous
value to Northampton County," said county executive, John
Stoffa.  "ACS' extensive experience has helped the county keep
up with technology and best practices, enabling us to
consistently provide county residents with top-quality, cost-
effective services."

The contract provides technology services including technology
management and planning; help desk; application support and
development; infrastructure and network engineering; training
and administrative services; and support to the county nursing
home.

"ACS leads the industry in meeting the unique technology needs
of state and local governments nationwide," said Affiliated
Computer Services managing director of State and Local
Solutions, Ann Kieffaber.  "We're focused on helping Northampton
County serve its citizens through the timely and efficient
delivery of important services."

            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: Moody's Keeps Ba2 Rating After Review
----------------------------------------------------------
Moody's Investors Service confirmed Affiliated Computer
Services' Ba2 corporate family rating with a stable rating
outlook.  This rating confirmation concludes a review for
possible downgrade initiated on March 20, 2007, which was
prompted by the company's announcement that founder and chairman
Darwin Deason and private equity fund Cerberus Capital
Management had proposed to buy the company.  The ratings of ACS
remained under review for possible downgrade following Cerberus'
withdrawal of its offer on Oct. 31, 2007, as the termination
triggered a public dispute between the chairman and the former
outside directors.  The recent resignation of all five former
outside directors, at Mr. Deason's request, ended the dispute.

Resolution of the board dispute has reduced near-term
uncertainty given the potential distraction to the ongoing
business that a protracted fight could have caused.  
Nevertheless, the independence and effectiveness of the new
board's oversight remains a key corporate governance concern.

ACS' Ba2 rating is supported by the company's size and
profitability, as measured by its adjusted pretax income
(US$464 million for the twelve months ended September 2007) and
returns on assets (4.2% adjusted for pensions and leases).  
Moody's believes that ACS' pretax income and returns will remain
within ranges appropriate for the Ba2 rating given the company's
relatively sizeable offshore employee footprint (over 30% of
commercial business employees domiciled offshore) and continued
growth in the higher margin BPO markets (about 75% of total
revenues) and government business segment (about 40% of total
revenues).  Although ACS' organic growth has slowed from mid-
teens prior to 2005 to the low to mid single digits, its
contract renewal rate remains strong at 94% in 2007.  
Furthermore, Moody's believes that bookings level should improve
over the next twelve months as the disruptions of the past year
have subsided with management now focused on stabilizing and
growing the business.

The Ba2 rating is constrained by the company's financial
leverage (as measured by free cash flow to adjusted debt) and
interest coverage (as measured by its EBITDA less capital
expenditures to interest expense), which collectively compare to
business services peers rated in the Ba3 category.  The rating
is further constrained by management's aggressive financial
policies, corporate governance concerns, the company's sluggish
bookings growth rates, legal overhang related to prior improper
stock options granting practices, and sizable capital
expenditures as a percentage of EBITDA (about 45% on a Moody's
adjusted basis).

The stable outlook reflects the company's relatively steady
internal revenue growth and solid operating margins, which are
supported by its competitively well-positioned and relatively
diversified BPO business portfolio.  The stable outlook assumes
that the likelihood of another potential leverage buy-out in the
current market is low and that new business awards will improve
due to renewed management focus on business fundamentals.

Ratings confirmed /assessments revised:

  -- Corporate family rating, Ba2

  -- US$500 million Senior Secured Notes due 2010 and 2015, Ba2,
     LGD 4, 53%

  -- US$1800 million Senior Secured Term Loan facility due 2013,
     Ba2, LGD 3, 43%

  -- US$1000 million Senior Secured Revolving Credit Facility,
     Ba2, LGD 3, 43%

Rating revised:

  -- Probability of default rating to Ba2 from Ba3
  -- Rating assigned:
  -- Speculative grade liquidity rating of SGL-1

Headquartered in Dallas, Affiliated Computer Services Inc.
-- http://www.acs-inc.com/-- with US$5.9 billion LTM revenues  
during the twelve months ended Sept. 30, 2007, is a leading
provider of business process outsourcing and I/T outsourcing to
commercial clients as well as state and local governments.  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.


NETIA SA: China Development Okays Service Agreement with P4
-----------------------------------------------------------
China Development Bank gave its consent to the service provision
agreement concluded on Dec. 7, 2007 by and between Netia SA and
P4 Sp. z o. o. with its seat in Warsaw.  Thereby the suspensive
condition the agreement had been dependent upon was fulfilled.

The agreement provides for cooperation with respect to the
distribution of Netia's and P4's services, performed by Netia in
its own name and on its own behalf.

Written consent of China Development Bank was delivered to Netia
on Jan. 16, 2007.

As previously disclosed, the agreement will allow Netia to offer
both mobile and convergent products under its own brand.  The
expansion of Netia's product portfolio with these services
constitutes one of the company's strategic targets in reaching
Netia's goal to become the leading alternative provider for
broadband services in Poland.  The commercial launch of mobile
and convergent services by Netia is planned for 2008.

Due to the fact that the cash flows under the contract will
depend on the size of Netia's future mobile service provisioning
business, the company is currently unable to specifically
determine the exact value of the performances under the
agreement.  The company estimates the gross value of incomes and
expenditures under the agreement for the first five years to be
approximately PLN397 million.  This amount exceeds 10% of
Netia's equity and hence it is a material agreement.

The agreement contains clauses concerning contractual penalties.
The maximum amount of the contractual penalties payable in the
cases of major breach specified in the agreement is the PLN
equivalent of EUR50 million.  Either party breaching termination
clauses or a failure by P4 to provide basic mobile products to
Netia constitute major breaches of the agreement.  The amount
may be increased by penalties for the non-performance or
inappropriate performance of the particular provisions of the
agreement.  The payment of the contractual penalties does not
prevent the parties from seeking damages based on general
provisions of law.

The total liabilities of the parties for the non-performance or
improper performance of the agreement is limited to the actual
amount of the damage, unless the damage results from willful
misconduct or gross negligence.


                        About Netia

Headquartered in Warsaw, Poland, Netia S.A. -- http://netia.pl/  
-- is an alternative fixed-line telecommunications operator in
Poland.  Netia provides a broad range of telecommunications
services, including voice, data and network wholesale services.

                          *     *    *

On Aug. 15, 2007, Standard & Poor's Ratings Services assigned a
B rating to Netia's Long-Term Foreign and Local Issuer Credit.  
The rating still applies to date.


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


HYNIX SEMICONDUCTOR: May Issue KRW150 Bil. Convertible Bonds
------------------------------------------------------------
Hynix Semiconductor may issue KRW150 billion worth of
convertible bonds in the local market to raise money needed for
upgrading its facilities to produce advanced chips, The Korean
Times reports.

A Hynix official told The Korea Times that they have been
engaged in final talks to issue CBs for administrative and
investment purposes.

The official, however, declined to give further details, such as
coupon yields and maturity, the report notes.

Kim Yoo-chul of The Times writes that according to unnamed
sources, five local brokerages including NH Securities,
Goodmorning Shinhan Securities and the Korea Development Bank
will lead the issuance.

                   About Hynix Semiconductor

Headquartered in Echon, South Korea, Hynix Semiconductor Inc --
http://www.hynix.com/-- is a semiconductor manufacturer.  
Through a merger with LG Semiconductor in 1999, Hynix
Semiconductor now has the world's largest dynamic random access
memory chip production capacity as well as the industry's best
technical development capacity by fully exploiting synergies
resulting from the historical integration of both companies.

The company has operations in Russia, and the United States.

                         *     *     *

In June 2007, Moody's Investors Service upgraded to Ba2 from Ba3
Hynix Semiconductor Inc's senior unsecured bond rating and
corporate family rating.

At the same time, Moody's assigned a Ba2 senior unsecured bond
rating for Hynix's proposed US$500 million issuance.  The
outlook for the ratings is stable.


VTB 24: Fitch Puts Individual Rating at D
-----------------------------------------
Fitch Ratings has assigned Bank VTB 24 CJSC, a subsidiary of
Russian JSC VTB Bank, an Individual rating of 'D'.  

VTB24 is the retail / small business arm of the VTB group. Its
IDR reflect Fitch's view of the high probability of support
being forthcoming from VTB if required.  VTB group owns
100% of VTB24's shares.

VTB24's Individual rating reflects its sound capital position
and reasonable asset quality to date, albeit the loan portfolio
is still young and unseasoned.  Earnings performance, however,
is modest, being affected by expenses related to the branch
network expansion.

                            Ratings:

   -- Long-term IDR: affirmed at 'BBB+'; Outlook Stable

   -- Short-term IDR: affirmed at 'F2'

   -- Support rating: affirmed at '2'

   -- National Long-term rating: affirmed at 'AAA'(rus); Outlook
      Stable

   -- Individual rating: assigned at 'D'


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


FLEXTRONICS INTERNATIONAL: Completes Avail Medical Acquisition
--------------------------------------------------------------
Flextronics International Ltd. has completed its acquisition of
Avail Medical Products Inc.

As a division of the Flextronics Medical segment, Avail Medical
will continue to operate as a stand-alone business.

"The acquisition of Avail expands our existing global design and
manufacturing capabilities creating a more robust and
competitive offering that now includes a wide range of
disposable medical devices such as catheters, wound management
and drug delivery devices.  The addition of Avail establishes
Flextronics as a leading supplier and partner for the medical
industry," said Flextronics Medical's president, Dan Croteau.
"This is a highly strategic acquisition for Flextronics and I am
pleased to welcome the talented Avail staff to our
organization."

Flextronics Medical segment is one of the fastest growing
Flextronics segments focused on providing outsourced design,
manufacturing and logistics services to the medical device and
equipment marketplace, including consumer diagnostic devices,
lab and life science equipment, imaging and patient monitoring
equipment, hospital beds, and drug delivery devices.  With the
combination of continued strong organic growth and the
acquisition of Avail Medical, Flextronics Medical expects to
generate US$850-US$950 million in revenue in the fiscal year
ending March 31, 2009, which represents a year-over-year
expected growth rate of 90%.

                     About Flextronics

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

                       *     *     *

As reported in the Troubled Company Reporter-Europe on
Oct. 5, 2007, Fitch Ratings has completed its review of
Flextronics International Ltd. following the company's
acquisition of Solectron Corp. and resolved Flextronics' Rating
Watch Negative status by affirming these ratings: Issuer Default
Rating at 'BB+'; and Senior unsecured credit facility at 'BB+'.

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

At the same time, Moody's Investors Service confirmed the
ratings of Flextronics International Ltd. with a negative
outlook and assigned a Ba1 rating to the company's new USUS$1.75
billion delayed draw unsecured term loan in response to the
closing of the Solectron acquisition.  The initial draw on the
term loan (US$1.1 billion) will finance the cash portion of the
merger consideration.


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


BLICKLE + PARTNER: Creditors' Liquidation Claims Due by Feb. 7
--------------------------------------------------------------
Creditors of LLC Blickle + Partner have until Feb. 7, 2008, to
submit their claims to:

         Rundbuckstrasse 6
         8212 Neuhausen am Rheinfall SH
         Switzerland

The Debtor can be reached at:

         LLC Blickle + Partner
         Neuhausen am Rheinfall SH
         Switzerland


CREDIT INVEST: Creditors' Liquidation Claims Due by Feb. 7
----------------------------------------------------------
Creditors of JSC Credit Invest Holding have until Feb. 7, 2008,
to submit their claims to:

         Guido Schwerzmann
         Liquidator
         Chamerstrasse 3
         Postfach 4739
         6304 Zug
         Switzerland

The Debtor can be reached at:

         JSC Credit Invest Holding
         Zug
         Switzerland


ELINAG ENGINEERING: Creditors' Liquidation Claims Due by Feb. 8
---------------------------------------------------------------
Creditors of JSC Elinag Engineering have until Feb. 8, 2008, to
submit their claims to:

         Lothar Studer
         Liquidator
         Pomonastr. 6
         3930 Visp VS
         Switzerland

The Debtor can be reached at:

         JSC Elinag Engineering
         Visp VS
         Switzerland


GLACIER JSC: Creditors' Liquidation Claims Due by Feb. 7
--------------------------------------------------------
Creditors of JSC Glacier have until Feb. 7, 2008, to submit
their claims to:

         Willy Langenegger
         Hertizentrum 11
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC Glacier
         Zug
         Switzerland


GRIESSER-INSTALLATIONEN: Creditors Must File Claims by Feb. 8
-------------------------------------------------------------
Creditors of JSC Griesser-Installationen have until Feb. 8,
2008, to submit their claims to:

         JSC HATH Hablutzel Treuhand
         Mail box: 399
         7002 Chur
         Plessur GR
         Switzerland

The Debtor can be reached at:

         JSC Griesser-Installationen
         Haldenstein
         Landquart GR
         Switzerland


MICHAEL UND: Creditors' Liquidation Claims Due by Feb. 7
--------------------------------------------------------
Creditors of LLC Michael und Schmid Architekten have until Feb.
7, 2008, to submit their claims to:

         Curdin Michael
         Gablerstrasse 41
         8002 Zurich
         Switzerland

The Debtor can be reached at:

         LLC Michael und Schmid Architekten
         Zurich
         Switzerland


POWER PRODUCTIONS: Creditors' Liquidation Claims Due by Feb. 7
--------------------------------------------------------------
Creditors of LLC Power Productions have until Feb. 7, 2008, to
submit their claims to:

         Susanne Ramseier
         Dorfstr. 22
         8902 Urdorf
         Dietikon ZH
         Switzerland

The Debtor can be reached at:

         LLC Power Productions
         Bonstetten
         Affoltern ZH
         Switzerland


SWISSADVISORS JSC: Zug Court Starts Bankruptcy Proceedings
----------------------------------------------------------
The Bankruptcy Service of Zug commenced bankruptcy proceedings
against JSC Swissadvisors on Dec. 21, 2007.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC Swissadvisors
         Chamerstrasse 44
         6331 Hunenberg ZG
         Switzerland


SWISS ROOF: Creditors' Liquidation Claims Due by Feb. 8
-------------------------------------------------------
Creditors of LLC Swiss Roof Design have until Feb. 8, 2008, to
submit their claims to:

         Stefan Kunzi
         Liquidator
         Obereyfeldweg 35 A
         3063 Ittigen BE
         Switzerland

The Debtor can be reached at:

         LLC Swiss Roof Design
         Ittigen BE
         Switzerland


W HUBER + PARTNER: Zug Court Starts Bankruptcy Proceedings
----------------------------------------------------------
The Bankruptcy Service of Zug commenced bankruptcy proceedings
against JSC W huber + partner on Jan. 3, 2008.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6301 Zug
         Switzerland

The Debtor can be reached at:

         JSC W huber + partner
         Industriestrasse 7
         6300 Zug
         Switzerland


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


CAPITAL LLC: Creditors of Must File Claims by February 8
--------------------------------------------------------
Creditors of LLC Capital (code EDRPOU 32759976) have until
Feb. 8, 2008, to submit written proofs of claim 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-19/295-07.

The Debtor can be reached at:

         LLC Capital
         Apartment 44
         Pushkinsky Entrance 7-a
         61024 Kharkov
         Ukraine


DSU 634: Creditors of Must File Claims by February 8
----------------------------------------------------
Creditors of OJSC Ukrainian Hydprospecial Foundation Building
Subsidiary Company DSU 634 Hydprospecial Foundation Building
(code EDRPOU 01416582) have until Feb. 8, 2008, to submit
written proofs of claim to:

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

The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. B26/225-06.

The Debtor can be reached at:

         OJSC Ukrainian Hydprospecial Foundation Building
         Subsidiary Company DSU 634 Hydprospecial Foundation
         Building
         Skorikovsky Lane 5
         49000 Dnipropetrovsk
         Ukraine


GRANTEX XXI: Creditors of Must File Claims by February 8
--------------------------------------------------------
Creditors of LLC Grantex XXI (code EDRPOU 34953533) have until
Feb. 8, 2008, to submit written proofs of claim 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-19/289-07.

The Debtor can be reached at:

         LLC Grantex XXI
         Dokuchayev Str. hostel 6
         Comunist
         62482 Kharkov
         Ukraine


LLC-FINANCE: Creditors of Must File Claims by February 8
--------------------------------------------------------
Creditors of LLC-Finance (code EDRPOU 33674929) have until
Feb. 8, 2008, to submit written proofs of claim 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-19/286-07.

The Debtor can be reached at:

         LLC-Finance
         Apartment 89
         Klaptsov Str. 11
         61064 Kharkov
         Ukraine


NIVA LLC: Creditors of Must File Claims by February 8
-----------------------------------------------------
Creditors of LLC Niva (code EDRPOU 03743084) have until
Feb. 8, 2008, to submit written proofs of claim to:

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

The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. B26/30-07.

The Debtor can be reached at:

         LLC Niva
         Kvak Str. 4
         Borovkovka
         Verkhnednieprovsky District
         51641 Dnipropetrovsk
         Ukraine


PETROLEUM-SERVICE SKP: Claims Filing Deadline Set February 8
------------------------------------------------------------
Creditors of LLC Science-Production Enterprise Petroleum-Service
SKP (code EDRPOU 33320899) have until Feb. 8, 2008, to submit
written proofs of claim to:

         The Economic Court of Zhytomir
         Putiatinskiy Square 3/65
         10014 Zhytomir
         Ukraine

The Economic Court of Zhytomir commenced bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
3/138-b.

The Debtor can be reached at:

         LLC Science-Production Enterprise Petroleum-Service SKP
         Aviatsionnaya Str. 64
         Ozernoye
         Zhytomir
         Ukraine


REPAIR-BUILDING SPECIALIZED 66: Proofs of Claim Due February 8
--------------------------------------------------------------
Creditors of LLC Repair-Building Specialized Management 66 (code
EDRPOU 04771237) have until Feb. 8, 2008, to submit written
proofs of claim to:

         Petr Chulakov
         Temporary Insolvency Manager
         Uritsky Str. 15
         Zaporozhje
         Ukraine

The Economic Court of Zaporozhje commenced bankruptcy
supervision procedure on the company on Dec. 17, 2007.  The case
is docketed under Case No. 16/281/07.

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

The Debtor can be reached at:

         LLC Repair-Building Specialized Management 66
         Minskaya Str. 5
         69015 Zaporozhje
         Ukraine


TECHNICS LLC: Creditors of Must File Claims by February 8
---------------------------------------------------------
Creditors of LLC Technics (code EDRPOU 31343584) have until
Feb. 8, 2008, to submit written proofs of claim 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-19/297-07.

The Debtor can be reached at:

         LLC Technics
         Apartment 117
         Krasnoshkolnaya Quay 22
         61125 Kharkov
         Ukraine


TECHNOTEL LLC: Creditors of Must File Claims by February 8
----------------------------------------------------------
Creditors of LLC Technotel have until Feb. 8, 2008, to submit
written proofs of claim to:

62370 Kharkov Ukraine Dergachi District Solonitsevka, Lenin Str.
12 Apartment 76

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

The Debtor can be reached at:


         LLC Technotel
         Apartment 76
         Lenin Str. 12
         Solonitsevka
         Dergachi District
         62370 Kharkov
         Ukraine


ULIYANOVKA LLC: Claims Filing Deadline Set February 8
-----------------------------------------------------
Creditors of Uliyanovka LLC (code EDRPOU 31315981) have until
Feb. 8, 2008, to submit written proofs of claim to:

         The Economic Court of Nikolaev
         Admiralskaya Str. 22
         54009 Nikolaev
         Ukraine

The Economic Court of Nikolaev commenced bankruptcy supervision
procedure on the company on Dec. 18, 2007.  The case is docketed
under Case No. 14/758/07.

The Debtor can be reached at:

         Uliyanovka LLC
         Uliyanovka
         57116 Nikolaev
         Ukraine


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


AEROSPACE & TECHNICAL: Taps Liquidators from Menzies
----------------------------------------------------
Jason James Godefroy and Paul John Clark of Menzies Corporate
Restructuring were appointed joint liquidators of Aerospace &
Technical Engineering Ltd. on Jan. 17 for the creditors'
voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Menzies Corporate Restructuring
         43-45 Portman Square
         London
         W1H 6LY
         England


ARVINMERITOR INC: To Supply Hyundai Unit w/ Plastic Door Modules
----------------------------------------------------------------
ArvinMeritor, Inc.'s Light Vehicle Systems business group has
been awarded a multi-year contract to supply Hyundai North
America with an innovative plastic door module and accompanying
corporate latch product for the new Hyundai Sonata.  Production
is scheduled to begin in March 2010.

The highly integrated plastic door module will replace the
current steel version, and is part of ArvinMeritor's smart
systems(TM) product strategy to combine electronics and controls
with heritage mechanical components to enhance vehicle systems
performance.  The door module uses an innovative composite
construction to intelligently integrate the electro-mechanical
and modular components, saving up to 25 percent in weight and
representing the first application of plastic door module
technology at Hyundai.  It is also the first such ArvinMeritor
product to appear on the North American market.

The Hyundai Global Latch will be delivered alongside the highly
integrated plastic and is ArvinMeritor's next generation
corporate latch for Hyundai.  This product is an adaptable
global concept based upon robust functional modules and provides
improvements in security, weight, packaging and cost.

Both of these products will be manufactured in North America
with an initial annual volume projected to be approximately
700,000 units each.

"This new business win is another example of how ArvinMeritor is
leveraging unique integration expertise into innovative modules
and systems," said LVS vice president and general manager of
ArvinMeritor Body Systems, Aziz Aghili.  "These new developments
allow us to bring real value to exciting vehicle manufacturers
such as Hyundai, while continuing to expand our global reach and
customer base."

ArvinMeritor's LVS business group is a market leader in the
product categories it serves, supplying integrated systems and
modules to the world's leading passenger car and light truck
OEMs.  Through smart systems(TM) technologies, the intelligent
application of controls and electronics, ArvinMeritor's
traditional mechanical products are taking on new form and
function at both the component and system levels.  With advanced
technology and systems design expertise in body systems, chassis
and wheels, LVS combines high-quality components into cost-
effective, performance-based solutions for virtually every car
and light truck on the road today.

                     About ArvinMeritor

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

                         *     *     *

As reported in the Troubled Company Reporter-Europe on
Jan. 15, 2008, Fitch Ratings took these rating actions on
ArvinMeritor Inc.: Issuer Default Rating downgraded to 'B+' from
'BB-'; Senior secured revolver affirmed at 'BB' and assigned
'RR1'; and Senior unsecured notes affirmed at 'B+' and assigned
'RR4'.

Fitch's rating outlook is negative.  The ratings affect
approximately US$1.1 billion of outstanding debt.


ARVINMERITOR INC: Board Declares US$0.10 Quarterly Dividend
-----------------------------------------------------------
At a meeting held on Jan. 25, 2008, at its corporate
headquarters in Troy, Michigan, ArvinMeritor, Inc. Board of
Directors has declared a quarterly dividend of 10 cents
(US$0.10) per share on the common stock, payable March 10, 2008,
to holders of record at the close of business on Feb. 19, 2008.

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

                       *     *     *

As reported in the Troubled Company Reporter-Europe on
Jan. 15, 2008, Fitch Ratings took these rating actions on
ArvinMeritor Inc.: Issuer Default Rating downgraded to 'B+' from
'BB-'; Senior secured revolver affirmed at 'BB' and assigned
'RR1'; and Senior unsecured notes affirmed at 'B+' and assigned
'RR4'.

Fitch's rating outlook is negative.  The ratings affect
approximately US$1.1 billion of outstanding debt.


ARVINMERITOR INC: Names Barbara Novak VP & Corporate Secretary
--------------------------------------------------------------
ArvinMeritor Inc., following the company's Board of Directors
meeting, has appointed Barbara Novak as vice president and
corporate secretary, effective immediately.

Ms. Novak is responsible for the company's listing requirements
associated with the Securities and Exchange Commission and the
New York Stock Exchange, and will play a key role in financing
transactions, shareholder meetings, investor communications and
executive compensation.  She will also manage matters related to
the Board of Directors.

"We are very pleased that Barbara has joined us," said senior
vice president and general counsel, Vernon Baker.  "Her
significant work experience and exceptional education make her a
great asset to the ArvinMeritor team."

Most recently, Novak served as senior counsel, Securities, at
TRW Automotive Holdings Corp. in Livonia, Michigan.  Prior to
that, she held senior counsel positions at Delphi Corporation
and Collins & Aikman Corporation, after spending several years
as an associate at the law firm of Cravath, Swaine & Moore.

Ms. Novak holds a Bachelor of Arts degree from the University of
Michigan and a Juris Doctorate from Harvard Law School, where
she graduated cum laude and served on the "Harvard Law Review."  
Ms. Novak will continue to serve as an Adjunct Professor at the
University of Michigan Law School where she teaches securities
regulation to senior level law students.

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

                       *     *     *

As reported in the Troubled Company Reporter-Europe on
Jan. 15, 2008, Fitch Ratings took these rating actions on
ArvinMeritor Inc.: Issuer Default Rating downgraded to 'B+' from
'BB-'; Senior secured revolver affirmed at 'BB' and assigned
'RR1'; and Senior unsecured notes affirmed at 'B+' and assigned
'RR4'.

Fitch's rating outlook is negative.  The ratings affect
approximately US$1.1 billion of outstanding debt.


BAA LTD: British Airways Wants CAA to Stop Improvement Delays
-------------------------------------------------------------
British Airways Plc is urging the Civil Aviation Authority to
stop BAA Ltd. from delaying the introduction of improved
customer service quality targets at Heathrow by up to two years.

The airline is providing evidence to the CAA at oral hearings on
the current BAA airport charges review that start on Monday,
Jan. 28, 2008.

As part of the current review, the Competition Commission
recommended that the CAA strengthened BAA's service quality
regulations in key areas such as the central security search
area, security control posts and transfer search areas.

BAA wants the delay to enable action plans and measurement
systems to be set up before many of the new targets are
introduced and to fund additional work to deliver acceptable
service standards in these areas.

"It appears that BAA is paying lip service to customers' needs
and will only take real steps to improve service quality when
forced to do so by the regulators.  For passengers to continue
to experience the Heathrow Hassle for another two years because
BAA hasn't got its act together is unacceptable," Paul Ellis,
British Airways' general manager airport policy and
infrastructure, said.  "Many of the areas identified as needing
better targets affect flight punctuality.  Delays at security
control posts mean that, on occasions, catering is late being
loaded on the aircraft and even our flight and cabin crew don't
get to the aircraft on time.  Airlines have been highlighting
punctuality problems to BAA for more than two years so it's had
ample time to plan for improved performance levels and invest in
the infrastructure necessary to deliver them.  We believe that
the technology exists now to develop measurement systems and
airlines have already made proposals to BAA on ways to reduce
delays."

The CAA as regulator has to decide whether or not to allow BAA
to delay the introduction of new service quality regulations.

"The CAA's role is to create an environment where a monopoly
supplier is forced to act in a competitive way.  A competitive
company wouldn't be able to rely on previous failures to invest
as an excuse for not being made accountable for service quality
improvements," Mr. Ellis said.

                    About British Airways

Headquartered in West Drayton, United Kingdom, British Airways
Plc -- http://www.ba.com/-- operates of international and
domestic scheduled and charter air services for the carriage of
passengers, freight and mail, and provides of ancillary
services.  The British Airways group consists of British Airways
plc and a number of subsidiary companies including in particular

British Airways Holidays Ltd. and British Airways Travel
Shops Ltd.  BA has offices in India and Guatemala.

                            About BAA

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

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

                             *   *   *

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


BALL CORP: Reports US$281.3 Million 2007 Full Year Earnings
-----------------------------------------------------------
Ball Corporation has reported full-year 2007 net earnings of
US$281.3 million, or US$2.74 per diluted share, on sales of
US$7.39 billion, compared to US$329.6 million, or US$3.14 per
diluted share, on sales of US$6.62 billion in 2006.

Fourth quarter 2007 net earnings were US$33.3 million, or 33
cents per diluted share, on sales of US$1.76 billion, compared
to US$48.3 million, or 46 cents per diluted share, on sales of
US$1.59 billion in the fourth quarter of 2006.

In both 2007 and 2006 results included costs from business
consolidation activities and significant non-operating items.  
Fourth quarter 2007 results included net after-tax costs of
approximately US$27 million, or 27 cents per diluted share, for
business consolidation primarily in the company's food and
household products packaging, Americas, segment.  Full-year 2007
results included the fourth quarter business consolidation costs
and a third quarter after-tax charge of US$51.8 million, or 50
cents per diluted share, related to a customer settlement.

Fourth quarter 2006 results included net after-tax costs of
US$20.2 million, or 19 cents per diluted share, from business
consolidation activities, reduced by a one-time tax gain.  Full-
year 2006 results included property insurance proceeds resulting
from a fire at a plant in Germany, offset by business
consolidation costs, for a net after-tax gain of
US$25.6 million, or 24 cents per diluted share.

Chairperson, president and chief executive officer, R. David
Hoover said "2007 was a record year for Ball in terms of
operating results."

"On a comparable basis, our diluted earnings per share were
US$3.50 in 2007, up 21 percent from our previous record of
US$2.90 in 2006.  This came despite a difficult fourth quarter
comparison where, also on a comparable basis, we earned 60 cents
per diluted share in the period in 2007 versus 65 cents in the
fourth quarter of 2006," Mr. Hoover said.

"While we generally are pleased with our results from 2007, we
have identified and are executing on numerous initiatives that
we believe will lead to further improvements in 2008 and better
position us for the longer term," Mr. Hoover said.  "Earlier
this week our board of directors elected John A. Hayes as
executive vice president and chief operating officer of Ball
Corporation. John has done a superior job of leading our
operations in Europe in recent years.  We look forward to having
him as chief operating officer for all of our businesses."

             Metal Beverage Packaging, Americas

Metal beverage packaging, Americas, segment operating earnings
were US$213.6 million in 2007 on sales of US$2.76 billion,
including an US$85.6 million charge for a customer settlement,
compared to US$269.4 million on sales of US$2.60 billion in
2006.  For the fourth quarter, earnings were US$57.8 million on
sales of US$666.6 million in 2007, compared to US$75.9 million
on sales of US$611.9 million in 2006.

"Continued strong demand for specialty size cans contributed to
overall results in our metal beverage packaging, Americas,
segment in 2007," Mr. Hoover said.  "Work is progressing on
schedule to install a new 24-ounce can production line in our
Monticello, Indiana, beverage can plant.  That capacity will
come on stream later this year to help us keep up with the
growing demand for that particular container, primarily for
energy drinks and beer."

Ball Corp.'s board of directors approved yesterday the
corporation's participation in a one-line metal beverage
container plant in southeastern Brazil.  The plant will be part
of Latapack-Ball Embalagens, Ltda., the company's 50-50 joint
venture can company in Brazil.  Its capacity will be 900 million
cans per year and can be expanded to 2 billion cans per year as
demand grows.  The plant will be financed entirely by cash flows
from the joint venture, and production is expected to begin in
mid-2009.

            Metal Beverage Packaging, Europe/Asia

Metal beverage packaging, Europe/Asia, segment results in 2007
were operating earnings of US$256.1 million on sales of
US$1.9 billion, compared to US$268.7 million on sales of
US$1.51 billion in 2006, which included a pre-tax property
insurance gain of US$75.5 million related to a fire in a German
plant.  For the fourth quarter, operating earnings in 2007 were
US$37.6 million on sales of US$455.5 million, compared to
US$33 million on sales of US$352.6 million in the fourth quarter
of 2006.

Ball Corp. announced today plans to build a new beverage can
manufacturing plant in Poland in order to meet the rapidly
growing demand for beverage cans there and elsewhere in Central
and Eastern Europe.  The plant will be built in Lublin, near the
borders of Belarus and Ukraine.  It will initially have one
production line with an annual capacity of approximately 750
million cans per year and is expected to begin production in the
first half of 2009.

"Our metal beverage packaging, Europe/Asia, segment had a strong
2007, with improved results throughout Europe and in China, and
we have numerous growth opportunities," Mr. Hoover said.  "We
currently are speeding up certain production lines in Germany
and Poland in advance of the busy 2008 summer selling season.  
In addition, during the fourth quarter of 2007 we announced
plans for a beverage can plant in India that will use existing
manufacturing equipment."

     Metal Food & Household Products Packaging, Americas

Metal food and household products packaging, Americas, segment
results for 2007 were a loss of US$8 million on sales of
US$1.18 billion, including business consolidation costs of
US$44.2 million, compared to US$2.4 million on sales of
US$1.14 billion in 2006.  For the fourth quarter of 2007,
segment results were a loss of US$33.4 million on sales of
US$271.1 million, compared to a loss of US$23.2 million on sales
of US$288.1 million in the same period of 2006.  The fourth
quarter and full-year 2007 results included business
consolidation costs of US$44.2 million.  The fourth quarter and
full-year 2006 results include business consolidation costs of
US$33.8 million and US$35.5 million, respectively.

"Work has begun on the further restructuring announced early in
the fourth quarter of our metal food and household products
packaging, Americas, segment," Mr. Hoover said.  "The
restructuring plan includes closing aerosol can production
plants in California and Georgia and exiting the custom and
decorative tinplate can business.  Even though the anticipated
annualized cost savings of US$15 million from this restructuring
are not expected until 2009, we believe other improvements we
have already made and continue to make in pricing and operating
efficiencies will lead to much improved performance in this
segment in 2008."

                 Plastic Packaging, Americas

Plastic packaging, Americas, segment results for 2007 were
operating earnings of US$25.9 million on sales of
US$752.4 million, compared to US$28.3 million on sales of
US$693.6 million in 2006.  For the fourth quarter, earnings in
2007 were US$8.8 million on sales of US$172.1 million, compared
to US$10 million on sales of US$172.6 million for the same
period in 2006.

"Plastic packaging, Americas, segment results were down slightly
in 2007 from 2006 and are at unacceptable levels," Mr. Hoover
said.  "We will continue to emphasize our heat set and other
higher margin plastic containers while pursuing price increases
for commodity plastic containers for water and carbonated soft
drinks, where returns are well below our cost of capital and
must improve."

                 Aerospace and Technologies

Aerospace and Technologies segment results were operating
earnings of US$64.6 million on sales of US$787.8 million in
2007, compared to US$50 million on sales of US$672.3 million in
2006.  For the fourth quarter, earnings were US$11.1 million on
sales of US$190.9.  Fourth quarter 2006 earnings were
US$16.7 million on sales of US$166.6 million.

"Our aerospace and technologies segment enjoyed an outstanding
year in 2007, even though fourth quarter results were down from
a year ago," Mr. Hoover said.  "We have several large projects,
such as the WorldView 2 satellite for DigitalGlobe, in progress
and are competing for several other large contracts. The market
continues to hold strong demand for the products and
technologies for which we are most recognized."

                           Outlook

Raymond J. Seabrook, executive vice president and chief
financial officer, said adjusted free cash flow for 2007 was
US$440 million and that 2008 free cash flow will be lower due to
higher cash taxes, a one-time after-tax payment of US$42 million
for the customer settlement reached in the third quarter of 2007
and higher 2008 capital expenditures, offset partially by a
reduction in working capital.

"In part due to lower than expected capital expenditures in 2007
which will be spent in 2008, and due to growth projects in the
company's worldwide beverage can business, we expect capital
spending to exceed US$300 million in 2008," Mr. Seabrook said.  
"Approximately 75 percent of our anticipated capital spending
will be in our beverage can segments, with more than US$150
million of the total earmarked for top-line growth projects.  
Cost reduction and maintenance capital spending for the total
company should be approximately 60 percent of overall
depreciation.

"Our credit profile remains strong with net debt at the end of
2007 at US$2.2 billion.  This strong credit profile should allow
us to repurchase approximately US$300 million of our common
stock in 2008, including the accelerated share buyback program
we announced in December," Mr. Seabrook said.

"We are optimistic about 2008," Mr. Hoover said.  "We are
focused on getting results in our food and household products
packaging and plastic packaging segments to more acceptable
levels.

"We have attractive opportunities for growth in our beverage can
operations worldwide, and much of our capital spending will be
directed at these opportunities.  Our aerospace and technologies
segment is coming off of a remarkable record year that will be
difficult to duplicate, but results in 2008 should remain
strong," Mr. Hoover said.

"For full year 2008 we will work hard to achieve greater than
the US$3.50 per diluted share we made in 2007, excluding
restructuring and customer settlement costs," Mr. Hoover said.

                      About Ball Corp.

Headquartered in Broomfield, Colorado, Ball Corp. --
http://www.ball.com/-- is a supplier of high-quality metal and  
plastic packaging products.  It owns Ball Aerospace &
Technologies Corp. -- a developer of sensors, spacecraft,
systems and components for government and commercial customers.
Ball Corp. reported sales of US$7.4 billion in 2007. The company
employs 15,500 people worldwide including Argentina, Hong Kong,
China, France, Germany, and the United Kingdom.

                        *     *     *

As of July 30, 2007, the company holds Moody's Ba1 long-term
corporate family rating, bank loan debt, senior unsecured debt,
and probability of default rating.  Moody's said the outlook is
stable.

Standard & Poor's rates the company's long-term foreign and
local issuer credits at BB+ with a stable outlook.

Fitch also rates the company's bank loan debt at BB+ and long-
term issuer default rating and senior unsecured debt at BB.  
Fitch said the outlook is stable.


BERRY PLASTICS: S&P Holds Low-B Ratings on Captive Plastics Buy
---------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB-' first-lien
and 'B' second-lien senior secured debt ratings on Berry
Plastics Corp.  S&P removed the first- and second-lien senior
secured debt ratings from CreditWatch, where they were placed
with negative implications on Jan. 3, 2008, following the
company's announced acquisition of Captive Plastics Inc.  Pro
forma for the debt-financed acquisition, total debt (adjusted to
include capitalized operating leases and unfunded postretirement
liabilities) was about US$3.9 billion at Sept. 29, 2007.
      
"The ratings affirmation reflects our expectation that the
issuance of additional debt to fund Berry's acquisition of
privately held Captive Holdings Inc., parent of Captive Plastics
Inc., will not diminish recovery prospects for the outstanding
first- and second-lien debt in the post-acquisition capital
structure," said Standard & Poor's credit analyst Liley Mehta.
     
Berry has obtained financing commitments to fund the acquisition
for about US$500 million in cash, and expects it to close in the
first quarter of 2008, subject to customary closing conditions.   
Captive manufactures blow-molded bottles and injection-molded
closures for the food, health care, spirits, and personal care
markets at 13 plants in the U.S.
     
The rating on Berry Plastics Group Inc. reflects the company's
highly leveraged financial profile, which offsets the company's
fair business profile with large market shares in niche
segments, a well-diversified customer base, and strong customer
relationships.
     
With about US$3.5 billion in annual sales pro forma for the
Captive acquisition, Berry ranks among the largest packaging
companies in North America, with leading positions in both the
rigid and flexible plastic packaging segments.

Based in Evansville, Indiana, Berry Plastics Corporation --
http://www.berryplastics.com/-- manufactures and markets rigid
plastic packaging products.  Berry Plastics provides a wide
range of rigid open top and rigid closed top packaging as well
as comprehensive packaging solutions to over 12,000 customers,
ranging from large multinational corporations to small local
businesses.  The company has 25 manufacturing facilities
worldwide, including in Italy, England, and Hong Kong and more
than 6,800 employees.


BRITISH AIRWAYS: Calls for Improved Service Quality Regulations
---------------------------------------------------------------
British Airways Plc is urging the Civil Aviation Authority to
stop BAA Ltd. delaying the introduction of improved customer
service quality targets at Heathrow by up to two years.

The airline is providing evidence to the CAA at oral hearings on
the current BAA airport charges review that start on Monday,
Jan. 28, 2008.

As part of the current review, the Competition Commission
recommended that the CAA strengthened BAA's service quality
regulations in key areas such as the central security search
area, security control posts and transfer search areas.

BAA wants the delay to enable action plans and measurement
systems to be set up before many of the new targets are
introduced and to fund additional work to deliver acceptable
service standards in these areas.

"It appears that BAA is paying lip service to customers' needs
and will only take real steps to improve service quality when
forced to do so by the regulators.  For passengers to continue
to experience the Heathrow Hassle for another two years because
BAA hasn't got its act together is unacceptable," Paul Ellis,
British Airways' general manager airport policy and
infrastructure, said.  "Many of the areas identified as needing
better targets affect flight punctuality.  Delays at security
control posts mean that, on occasions, catering is late being
loaded on the aircraft and even our flight and cabin crew don't
get to the aircraft on time.  Airlines have been highlighting
punctuality problems to BAA for more than two years so it's had
ample time to plan for improved performance levels and invest in
the infrastructure necessary to deliver them.  We believe that
the technology exists now to develop measurement systems and
airlines have already made proposals to BAA on ways to reduce
delays."

The CAA as regulator has to decide whether or not to allow BAA
to delay the introduction of new service quality regulations.

"The CAA's role is to create an environment where a monopoly
supplier is forced to act in a competitive way.  A competitive
company wouldn't be able to rely on previous failures to invest
as an excuse for not being made accountable for service quality
improvements," Mr. Ellis said.

                          About BAA

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

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

                     About British Airways

Headquartered in West Drayton, United Kingdom, British Airways
Plc -- http://www.ba.com/-- operates of international and
domestic scheduled and charter air services for the carriage of
passengers, freight and mail, and provides of ancillary
services.  The British Airways group consists of British Airways
plc and a number of subsidiary companies including in particular

British Airways Holidays Ltd. and British Airways Travel
Shops Ltd.  BA has offices in India and Guatemala.

                        *     *     *

As of Jan. 2, 2008, British Airways Plc carries a senior
unsecured debt rating of Ba1 from Moody's Investors' Service
with a stable outlook.


CLEAR CHANNEL: S&P Retains Negative CreditWatch on B+ Rating
------------------------------------------------------------
Standard & Poor's Ratings Services said its ratings on Clear
Channel Communications Inc., including the 'B+' corporate credit
rating, remain on CreditWatch with negative implications.  S&P
originally placed them on CreditWatch on Oct. 26, 2006,
following the company's announcement that it was exploring
strategic alternatives to enhance shareholder value.
      
"The company's pending LBO, led by Thomas H. Lee Partners L.P.
and Bain Capital Partners LLC, received FCC approval on Jan. 24,
2008," explained Standard & Poor's credit analyst Michael
Altberg.
     
The consummation of the merger is subject to certain conditions,
including the divestiture of grandfathered radio stations, in
approximately 42 markets, that no longer comply with FCC
multiple ownership rules.  Clear Channel expects to obtain
US$18.525 billion of new senior secured credit facilities and
US$2.6 billion of new senior unsecured notes in association with
financing the merger.
     
Upon close of the transaction, and barring any material changes
due to the divestiture of certain assets or change in financing
terms, S&P expects to lower Clear Channel's long-term corporate
credit rating to 'B' from 'B+'.  At the same time, S&P expects
to lower its rating on the company's US$6.32 billion of existing
senior unsecured notes, or US$4.9 billion assuming the
successful tender of its 7.65% senior notes due 2010 and 8%
senior notes due 2008 at its subsidiary, to 'CCC+' (two notches
below the expected corporate credit rating) from 'B-'.  Based on
the company's proposed financing, it will roll over existing
senior unsecured debt into the new capital structure, but this
debt will be structurally subordinate to both proposed new bank
debt and new senior unsecured notes.  The new bank debt and the
new senior unsecured notes will benefit from upstream operating
company guarantees, while the existing senior notes will not.
     
Revenue and EBITDA increased 5.5% and 4.8%, respectively, for
the third quarter of 2007, as a 1% decline in radio revenue was
more than offset by 14% growth in outdoor advertising.  S&P is
concerned about the negative secular trends facing the radio
industry.  S&P believes Clear Channel has the ability to
slightly outperform the industry due to its significant
geographic and format diversity, offering some insulation from
economic downturn and providing advertisers with a broader
distribution platform.   Still, S&P believes that it will be
increasingly difficult for the company to achieve meaningful
EBITDA growth in the radio segment over the intermediate term.  
Growth fundamentals in outdoor advertising remain strong, and
are not subject to the same competition that radio is from
alternative media such as the Internet.  S&P believes domestic
outdoor operations may benefit as the penetration of digital
displays grows, and international profitability may gradually
increase with continued investments in emerging markets.
     
S&P will continue to monitor developments surrounding the
closing of the proposed merger, in addition to the company's
progress in planned asset sales.  At the time of closing, S&P
expects to assign ratings to Clear Channel's proposed senior
secured credit facilities and proposed new senior unsecured
debt.

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.


CLOCKWORK CONTROL: Calls In Liquidators from Tenon Recovery
-----------------------------------------------------------
Steven Philip Ross and Ian William Kings of Tenon Recovery were
appointed joint liquidators of Clockwork Control Ltd. (formerly
Soundbuzz Ltd.) on Jan. 18 for the creditors' voluntary winding-
up proceeding.

The joint liquidators can be reached at:

         Tenon Recovery
         Tenon House
         Ferryboat Lane
         Sunderland
         Tyne & Wear
         SR5 3JN
         England

The company can be reached at:

         Clockwork Control Ltd.
         2 Broomy Holme Farm
         Edmondsley
         Co Durham
         DH7 6DY
         England


CRN LOGISTICS: Brings In Liquidators from Tenon Recovery
--------------------------------------------------------
Carl Stuart Jackson and Nigel Ian Fox of Tenon Recovery were
appointed joint liquidators of CRN Logistics Ltd. on Dec. 17,
2007 for the creditors' voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Tenon Recovery
         Highfield Court
         Tollgate
         Chandlers Ford
         Eastleigh
         Hampshire
         SO53 3TZ
         England


DANOR ELECTRONICS: Appoints Liquidators from Mazars
---------------------------------------------------
Alistair Steven Wood and Simon David Chandler of Mazars LLP were
appointed joint liquidators of Danor Electronics Ltd. on Jan. 14
for the creditors' voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Mazars LLP
         Cartwright House
         Tottle Road
         Nottingham
         NG2 1RT
         England


DURA AUTOMOTIVE: Asks Court Consent for US$170M Replacement Loan
----------------------------------------------------------------
DURA Automotive Systems, Inc., and its debtor-affiliates ask the
U.S. Bankruptcy Court for the District of Delaware's permission
to obtain US$170 million replacement financing and amend their
US$300 million existing postpetition financing facility.

The Debtors have obtained commitments from Ableco Finance LLC on
Jan. 21, 2008, for a Replacement Term Loan DIP Facility, which  
would

   (i) extend the maturity date of DIP loans by six months to
       July 31, 2007, and

  (ii) would allow the Debtors to enter into a replacement
       facility in order borrow US$170 million to pay off
       US$104.5 million due under the existing term loan
       facility, and pay outstanding balance under its DIP
       revolver and pay fees and expenses associated with the
       replacement term loan facility.

Immediately after seeking for Chapter 11 protection, and in
order to fund their operations while in bankruptcy, the Debtors
obtained Court permission to enter into with Goldman Sachs
Capital Partners L.P., General Electric Capital Corporation, and
other lender parties:

   -- up to US$130 million asset based revolving credit
      facility, subject to borrowing base and availability
      terms, with a US$5 million sublimit for letters of credit;
      and

   -- up to US$170 million Fixed Asset Facilities consisting of:

      * up to US$150 million tranche B term loan; and
       
      * up to US$20 million pre-funded synthetic letter of
        credit facility.

Due to their failure to obtain confirmation of their Joint Plan
of Reorganization by their mid-December 2007 target, the Debtors
had obtained an extension of their Existing DIP Facilities until
Jan. 31, 2008.  The Debtors missed their target mainly because
of its failure to obtain full syndication of its US$425 million
exit financing, due to tighter credit conditions.

Daniel J. DeFranceschi, Esq., at Richards, Layton & Finger,
P.A., in Wilmington, Delaware, relates that the Debtors have
been working with a number of potential replacement DIP lenders
to solicit proposals for potential replacement DIP facilities.  
These efforts culminated in the Debtors obtaining a commitment
letter from Ableco Finance on Jan. 21, 2008 for the Replacement
Term Loan DIP Facility.

The parties are negotiating and finalizing a form of the
Replacement Term Loan DIP Facility based on the existing Term
Loan DIP Facility, i.e., premised substantially on "stepping
into the shoes" of the lenders under the existing Term Loan DIP
Facility, along with the pledge of 100% of the stock of the
Debtors' foreign non-debtor subsidiaries, an increase from the
existing pledge of 66% under the existing Term Loan DIP
Facility.

The material terms of the Revolver DIP Amendments are:
                                                                             
    Term                Description
    ----                -----------
    Aggregate
    Commitments         Reduced to US$90 million.
                           
    New Maturity Date   July 31, 2008.

    Interest Rate       Subject to pending negotiations.

    New Collateral      Enhanced Foreign Stock Pledge.

    Other Terms         Certain additional terms, including
                        Revolver DIP Facility covenants, are
                        being negotiated and finalized.
                             
    Carve-out           Subject to pending negotiations.

The salient terms of the Replacement Term Loan DIP Facility are:

    Term                Description
    ----                -----------
    Fees                US$1,275,000 commitment fee,
                        US$1,275,000 closing fee, and reasonable
                        out-of-pocket fees and expenses incurred
                        by Ableco, including already-paid
                        US$175,000 advance expense deposit.

    Interest Rate       The Term Loan will bear interest at the
                        rate per annum equal to (i) the
                        Reference Rate plus 7% of which 3% will
                        be paid-in-kind or (ii) the 30-, 60- or
                        90-day LIBOR plus 10% of which 3% will
                        be paid-in-kind.  Interest will be
                        payable monthly in arrears.

                        "Reference Rate" means the rate of
                        interest publicly announced from time to
                        time by JPMorgan Chase in New York, New
                        York as its reference rate, base rate or
                        prime rate, provided that at no time
                        will the Reference Rate be less than
                        6.75% "LIBOR" means the London Interbank
                        Rate, provided that at no time will the
                        LIBOR rate referred to above be less
                        than 3.75%.  All interest and fees will
                        be computed on the basis of a year of
                        360 days for the actual days elapsed.
                        If any Event of Default occurs and is
                        continuing, interest will accrue at a
                        rate per annum equal to 2% above the
                        rate previously applicable to the
                        obligation, payable on demand.

    Total Facility      US$170 million -- approximately US$105
                        million to replace existing Term Loan
                        DIP Facility, approximately US$45
                        million additional term loan financing
                        for paying down the Revolver DIP
                        Facility, and a US$20 million synthetic
                        letter of credit facility.

    Interim Facility    Same as total facility.
                   
    New Maturity Date   July 31, 2008

    Use of Proceeds     To (i) repay the Debtors' existing
                        debtor-in-possession term loan of
                        approximately US$104.5 million and
                        replace the existing debtor-in-
                        possession synthetic letter of credit
                        facility; (ii) fund general corporate
                        needs, including working capital needs;
                        and (iii) pay fees and expenses related
                        to this transaction and the Chapter 11
                        cases.

    New Collateral      Enhanced Foreign Stock Pledge.

    Covenants           Customary covenants.  

    Events of Default   Customary events of default.

    Curve-out           Subject to pending negotiations.   

Mr. DeFranceschi relates that the credit market conditions in
which the Debtors are seeking to extend and amend postpetition
secured financing facilities have deteriorated markedly since
November 2006, when the Court entered the Final DIP Order.  As a
result, the cost of obtaining DIP financing has increased
substantially, he avers.

Mr. DeFranceschi adds that the Debtors will suffer immediate and
irreparable harm if the Court does not authorize them to enter
into the Replacement Term Loan DIP Facility on an interim basis
prior to the Jan. 31, 2008, maturity date of the existing DIP
Term Loan Facility.  On Jan. 31, the Debtors' obligations under
the existing DIP Term Loan Facility would become immediately due
and payable, and the existing DIP Term Loan lenders would be
entitled to exercise all remedies available to them under the
Final DIP Order.

                      About DURA Automotive

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

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

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

Togut, Segal & Segal LLP is the Debtors' conflicts counsel.
Miller Buckfire & Co., LLC is the Debtors' investment banker.
Glass & Associates Inc., gives financial advice to the Debtor.
Kurtzman Carson Consultants LLC handles the notice, claims and
balloting for the Debtors and Brunswick Group LLC acts as their
Corporate Communications Consultants for the Debtors.  As of
July 2, 2006, the Debtor had US$1,993,178,000 in total assets
and US$1,730,758,000 in total liabilities.  (Dura Automotive
Bankruptcy News, Issue No. 44; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


FORD MOTOR: At Ease with Tata Motors' Jaguar Brand Acquisition
--------------------------------------------------------------
Ford Motor Company anticipates a return of its Jaguar brand to
profitability once it is sold, together with the Land Rover
brand, to preferred bidder Tata Motors Ltd., insisting that its
management is at ease at Tata Motor's operational capabilities,
John Griffiths of the Financial Times in London reports citing
Ford Director of Design Ian Callum.

As reported in the Troubled Company Reporter on Jan. 4, 2008,
Lewis Booth, executive vice president for Ford of Europe and
Premier Automotive Group (Chairman - Jaguar, Land Rover, Volvo
and Ford of Europe) stated that Ford is committed to focused
detailed talks with Tata Motors on the potential sale of its
Jaguar and Land Rover brands.  He related that while no final
decision has been made, Ford will proceed with further
substantive discussions with Tata Motors over the coming weeks
with a view to securing an agreement that is in the best
interests of all parties concerned.

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

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

                          *     *     *

In November 2007, Moody's Investors Service's affirmed the long-
term ratings of Ford Motor Company (B3 Corporate Family Rating,
Ba3 senior secured, Caa1 senior unsecured, and B3 probability of
default), but changed the rating outlook to Stable from Negative
and raised the company's Speculative Grade Liquidity rating to
SGL-1 from SGL-3.  Moody's also affirmed Ford Motor Credit
Company's B1 senior unsecured rating, and changed the outlook to
Stable from Negative.  These rating actions follow Ford's
announcement of the details of the newly ratified four-year
labor agreement with the UAW.


INTELSAT LTD: Moody's Cuts Rating to Caa1 on Increased Leverage
---------------------------------------------------------------
Moody's Investors Service downgraded Intelsat Ltd.'s corporate
family rating by two notches to Caa1.

The company's speculative grade liquidity rating was downgraded
to SGL-3 from SGL-1.  The rating action reflects the impact of
increased leverage resulting from an additional US$5 billion in
debt (US$3.7 billion incremental) that is being incurred to
facilitate the purchase of Intelsat's parent company's equity
ownership by BC Partners, Silver Lake Partners and certain other
investors, and repay certain outstanding indebtedness.  Moody's
expects the majority of the new debt to be issued at Intelsat
(Bermuda), Ltd., while Intelsat (Bermuda), Ltd.'s existing
assets and liabilities will be transferred to a newly created
holding company, Intelsat Jackson Holdings, Ltd.  Following
closing, the ratings agency expects all equity to be owned by BC
Partners, Silver Lake Partners, certain other investors and
management.

The defining factor in the company's credit profile is the
increased leverage resulting from debt financing facilitating
the ownership changes, and risks that the company will not be
able to grow its cash flow stream in order that all of its
substantial interest burden, capital expenditures and periodic
cash income tax obligations can be met from operating cash flow.
The future opportunities to grow cash flow include increases to
EBITDA, plus permanent reductions in capital expenditures as the
company rationalizes its very large satellite constellation
fleet.  In the interim, Moody's anticipates a modest cash flow
deficit.  

However, applicable bank credit agreements and trust indentures
feature relatively lax default triggers that may provide time
before creditors gain default rights.  The company has available
sources of external liquidity, including the revolving credit
facilities at Intelsat Corporation and Intelsat Subsidiary
Holding Co. Ltd.  For this reason, Moody's rates Intelsat's
liquidity arrangements as being adequate (SGL-3), with the Caa1
CFR reflecting execution risks related to cash flow growth
including the potential that exogenous factors such as a slowing
global economy may retard necessary progress.

Since Intelsat issues debt from five legal entities, the rating
action also involved adjustments to ratings for several debt
instruments in other Intelsat entities.  At closing, the ratings
on notes that will be repaid in full will be withdrawn.  
However, the rating actions are based on assumptions
incorporated in the company's acquisition financing plan and on
very preliminary documentation.  Accordingly, there is the
potential for minor adjustments to the instrument ratings should
the facts change.  Ratings will be finalized in due course (the
transaction is tentatively scheduled to close on February 4).

Instrument rated:

   * Issuer: Intelsat Corporation

   -- Secured Bank Credit Facility, Rated B1 (LGD1 05);
   -- US$150 million incremental Term Loan B-2 due Jan. 3, 2014.

Downgrades:

   * Issuer: Intelsat Corporation

   -- Senior Secured Bank Credit Facility, Downgraded to B1
      (LGD1 05) from Ba2 (LGD1 08);

   -- Senior Secured Revolving Facility due July 5, 2012;

   -- US$329 million Term Loan A-3 due July 5, 2012;

   -- US$1,623 million Term Loan B-2 due Jan. 3, 2014;

   -- Senior Secured Regular Bond/Debenture, Downgraded to B1
      (LGD1 05) from Ba2 (LGD1 08);

   -- US$125 million 6.875% Senior Secured Notes due Jan. 15,
      2028;

   -- Senior Unsecured Regular Bond/Debenture, Downgraded to B3
      (LGD3 33) from B2 (LGD3 45);

   -- US$656 million 9% Senior Unsecured Notes due Aug. 15,
      2014;

   -- US$575 million 9% Senior Unsecured Notes due June 15,
      2016.

   * Issuer: Intelsat Subsidiary Holding Co. Ltd.

   -- Senior Secured Bank Credit Facility, Downgraded to B1
      (LGD1 05) from Ba2 (LGD1 08);

   -- Senior Secured Revolving Facility due July 5, 2012;

   -- US$342 million guaranteed Term Loan B due July 5, 2013;

   -- Senior Unsecured Regular Bond/Debenture, Downgraded to B3
      (LGD1 33) from B2 (LGD3 45);

   -- US$875 million 8.25% Senior Notes due Jan. 15, 2013;

   -- US$675 million 8.625% Senior Notes due Jan. 15, 2015.

   * Issuer: Intelsat Intermediate Holding Company, Ltd.

   -- Senior Unsecured Regular Bond/Debenture, Downgraded to
      Caa1 (LGD4 53) from B3 (LGD5 72);

   -- US$388 million 9.25% Senior Discount Notes due Feb. 1,
      2015.

   * Issuer: Intelsat (Bermuda), Ltd. (to be re-named Intelsat
     Jackson Holdings, Ltd.);

   -- Senior Unsecured Bank Credit Facility, Downgraded to B3
      (LGD3 33) from B2 (LGD3 45);

   -- US$1,000 million guaranteed Term Loan due 2014;

   -- Senior Regular Bond/Debenture, Downgraded to B3 (LGD3 33)
      from B2 (LGD3 45);

   -- US$750 million 9.25% guaranteed Senior Notes due June 15,
      2016;

   -- Senior Unsecured Regular Bond/Debenture, Downgraded to
      Caa2 (LGD4 60) from Caa1 (LGD5 82);

   -- US$1,330 million 11.25% Senior Notes due June 15, 2016.

   * Issuer: Intelsat, Ltd.

   -- Probability of Default Rating, Downgraded to Caa1 from B2;

   -- Speculative Grade Liquidity Rating, Downgraded to SGL-3
      from SGL-1;

   -- Corporate Family Rating, Downgraded to Caa1 from B2;

   -- Senior Unsecured Regular Bond/Debenture, Downgraded to
      Caa3 (LGD6 95) from Caa1 (LGD6 93);

   -- US$600 million 6.625% Senior Notes due April 15, 2012;

   -- US$700 million 6.5% Senior Notes due Nov. 1, 2013.

Outlook Actions:

   * Issuer: Intelsat, Ltd.

   -- Outlook, Changed To Stable From Rating Under Review.

Ratings to be withdrawn upon closing:

   * Issuer: Intelsat (Bermuda), Ltd. (to be re-named Intelsat
     Jackson Holdings, Ltd.)

   -- Senior Unsecured Regular Bond/Debenture, currently rated
      Caa1 (LGD5 82);

   -- US$260 million Floating Rate Senior Notes due June 15,
      2013;

   -- US$600 million Floating Rate Senior Notes due January 15,
      2015.

   * Issuer: Intelsat, Ltd.

   -- Senior Unsecured Regular Bond/Debenture, currently rated
      Caa1 (LGD6 93);

   -- US$400 million 5.25% Senior Notes due Nov. 1, 2008.

Headquartered in Bermuda, Intelsat is the largest fixed
satellite service operator in the world and is currently
privately held by a group of financial investors: Apax Partners,
Apollo Management, Madison Dearborn Partners, Permira and
management.

Intelsat has sales offices in China, France, Germany, Japan,
Singapore, Australia, United Kingdom, among others.


INTERMEC INC: Names Raymond Cronin as RFID VP & General Manager
---------------------------------------------------------------
Intermec Inc. has appointed Raymond Cronin as its Vice President
and General Manager, RFID.

Mr. Cronin is a seasoned executive with significant senior level
technology experience in the areas of corporate strategy and the
commercialization of new technologies.  His corporate background
encompasses a range of disciplines, including operations,
product management, sales, customer service and support.

Mr. Cronin was most recently at Azimuth Systems, Inc. where as
founding Chief Executive Officer and member of their Board of
Directors, he led the company from concept to one of the market
leaders in the wireless LAN test equipment industry.  During the
last nine months he held the position of Chief Strategy Officer
while transitioning the CEO position to his successor.  Before
Azimuth Systems, Mr. Cronin served in various senior management
roles with several technology and semiconductor companies.
Mr. Cronin will report to Patrick Byrne, Intermec's President
and Chief Executive Officer.

"Intermec's RFID business is important to the long-term growth
of the company," said Patrick J. Byrne, President and Chief
Executive Officer.  "Ray's proven track record of bringing new
technologies to market along with Intermec's very strong
intellectual property portfolio in RFID further positions the
company for rapid technology commercialization."

Mr. Cronin is an Electrical Engineering graduate of Worcester
Polytechnic Institute and earned his Master's in Business
Administration from Harvard University.

                    About Intermec Inc.

Intermec Inc. -- http://www.intermec.com/-- develops,
manufactures and integrates technologies that identify, track
and manage supply chain assets.  Core technologies include RFID,
mobile computing and data collection systems, bar code printers
and label media.

The company has locations in Australia, Bolivia, Brazil, China,
France, Hong Kong, Singapore and the United Kingdom.

                       *     *     *

Standard & Poor's Rating Services raised its ratings on Everett,
Washington-based Intermec Inc. to 'BB-' from 'B+'.  The upgrade
reflects expectations that Intermec will sustain current levels
of profitability and leverage.  S&P said the outlook is stable.


ISLE OF CAPRI: Acquires Nevada Gold's 43% Black Hawk Stake
----------------------------------------------------------
Isle of Capri Casinos, Inc. has completed the acquisition of the
43% interest in Isle of Capri-Black Hawk LLC previously owned by
an affiliate of Nevada Gold & Casinos, Inc.

Isle of Capri Casinos, Inc. previously owned 57% of Isle of
Capri-Black Hawk LLC and completed the transaction at the
previously announced purchase price of US$64.6 million.  Through
Isle of Capri-Black Hawk, LLC, the company operates Isle of
Capri-Black Hawk and Colorado Central Station, both of which are
in Black Hawk, Colorado.

Based in Biloxi, Mississippi and founded in 1992, Isle of Capri
Casinos Inc. (Nasdaq: ISLE) -- http://www.islecorp.com/-- owns
and operates casinos in Biloxi, Lula and Natchez, Mississippi;
Lake Charles, Louisiana; Bettendorf, Davenport, Marquette and
Waterloo, Iowa; Boonville, Caruthersville and Kansas City,
Missouri and a casino and harness track in Pompano Beach,
Florida.  The company also operates and has a 57.0% ownership
interest in two casinos in Black Hawk, Colorado.  Isle of Capri
Casinos' international gaming interests include a casino that it
operates in Freeport, Grand Bahama, a casino in Coventry,
England, and a two-thirds ownership interest in casinos in
Dudley and Wolverhampton, England.

                       *     *     *

Moody's Investor Services placed Isle of Capri Casinos Inc.'s
probability of default and long term corporate family ratings at
'B1' in June 2007.  The ratings still hold to date with a stable
outlook.


LEVENDIS COMPANY: Claims Filing Period Ends March 18
----------------------------------------------------
Creditors of Levendis Co. Ltd. have until March 18, 2008 to
detail their names and addresses (and solicitors if applicable)
together with particulars of their debts or claims, in writing,
or in person, to:

         Duncan R. Beat
         Joint Liquidator
         Tenon Recovery
         75 Springfield Road
         Chelmsford
         Essex
         CM2 6JB
         England

Duncan R. Beat of Tenon Recovery was appointed liquidator of the
company on Jan. 18 for the creditors' voluntary winding-up
procedure.


MC ELECTRICAL: Joint Liquidators Take Over Operations
-----------------------------------------------------
Ian William Kings and Steven Philip Ross of Tenon Recovery were
appointed joint liquidators of MC Electrical Services (NE) Ltd.
on Jan. 23 for the creditors' voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Tenon Recovery
         Tenon House
         Ferryboat Lane
         Sunderland
         Tyne & Wear
         SR5 3JN
         England


NEMUS FUNDING: Moody's Rates GBP17.33 Mln Class E Notes at Ba3
--------------------------------------------------------------
Moody's Investors Service affirmed the ratings of these classes
of Notes issued by NEMUS Funding No.1 P.L.C., a partially funded
synthetic securitization arranged by HSBC Bank Plc:

   -- GBP35,730,000 Class A Floating Rate Notes due 2014 rated
      Aaa;

   -- GBP44,840,000 Class B Floating Rate Notes due 2014 rated
      Aa1;

   -- GBP35,905,000 Class C Floating Rate Notes due 2014 rated
      A1;

   -- GBP40,375,000 Class D Floating Rate Notes due 2014 rated
      Baa3;

   -- GBP17,330,000 Class E Floating Rate Notes due 2014 rated
      Ba3.

Moody's did not assign a rating to the Class F Notes,
GBP4,467,000.

The transaction which closed in August 2006 facilitated the
transfer of credit risks in respect of a pool of 23 Reference
Obligations.  HSBC, as the originator, transferred the credit
risks in respect of the senior-ranking, unfunded notional amount
to a third party via a GBP713,456,000 senior credit default
swap.  Moody's assigned a private rating to the Senior CDS.  
With respect to the junior-ranking notional amount, HSBC
transferred the credit risks to the Issuer via a credit default
swap.  The Issuer, as the credit protection seller to HSBC,
issued Notes with an initial principal of GBP178,647,000.

The rating affirmation follows a detailed analysis of the pool
after the reinvestment which has been dictated by the
Reinvestment Provisions that include compliance with the
Reference Obligation Eligibility Criteria and the Portfolio
Criteria.  The credit enhancement levels supporting the rated
classes of Notes have increased after allocation of the
Principal Repayment Amounts.  Overall, the key metrics of pool
performance and pool expected loss remain within Moody's
expectations.  The rating affirmation is based on the
characteristics of the Reference Obligations, the protection the
Notes receive from credit enhancement against defaults and
arrears in the Reference Portfolio, and the legal and structural
characteristics of the transaction.

Since closing of the transaction, a total of six Reference
Obligations have pre-paid in full (GBP149.3 million), and there
were scheduled amortization and partial pre-payments in an
amount of approximately GBP41.5 million.  Within the provisions
of the 18 month Reinvestment Period, HSBC, in its role as the
credit protection buyer, has elected to reinvest GBP 76.6
million of the reduction in the Portfolio Notional Amount
through the addition of two new Reference Obligations and
further advances to three of the existing Reference Obligations.
On Jan. 26, 2008, the expiration of the Reinvestment Period, the
remaining Principal Repayment Amounts was used to reduce the
Unfunded Portfolio Notional Amount by GBP95.2 million and the
Funded Portfolio Notional Amount by GBP19.0 million.

As at the cut-off date of the reinvestment (Oct. 26, 2006), the
pool comprises 20 Reference Obligations with an aggregate
balance of GBP798.6 million secured by 183 properties (plus 77
properties where tenants pay peppercorn ground rents).  The
Herfindahl index is 12.6 versus 15.5 at closing which represents
an increase in the Reference Obligation concentration of the
pool.  The average Reference Obligation balance of
GBP39.9 million has slightly increased compared with
GBP38.8 million at closing.

The weighted average UW LTV for the pool is 51.2% versus 56.4%
at closing.  As a result of haircuts to the property values, the
weighted average Moody's LTV for the pool stands at 63.9%
compared with 62.9% at closing.  The weighted average UW ICR
day-1 is 1.64x after the reinvestment compared with 1.80x at
closing.  Moody's average ICR over the loan term, reflecting
Moody's base case expectations of rental income and interest
payment obligations, is 1.39x on a weighted average basis for
the pool compared with 1.57x at closing.  There are seven
Reference Obligations (29.3% of current pool) with cash posted
as collateral in off-shore deposit accounts (GBP112.5 million),
a positive attribute of the deal which has remained the same as
closing.

With respect to the property type composition, the pool still
has a significant concentration of office properties,
represented by 51.9% of the market value of the pool compared
with 55.5% at closing.  There is increased exposure to the
Greater London area, 83.9% by market value, compared with 71.4%
at closing.  In terms of tenant concentration, the largest 100
tenants represent 70.0% of the total passing rent (vs 65.0% at
closing).  The top ten largest tenants contribute 25.1% of the
total passing rent (vs. 24.6% at closing).  Moody's assessment
of the underlying properties has not changed with a weighted
average Moody's Property Grade of 2.1 (vs. 2.1 at closing)
indicating the good property quality of the pool.

Other pool characteristics, also often seen in loans not
originated for securitization purposes, remain unchanged such as
the limited disclosure of loan level information, the partial
unhedged loan exposure, and a certain flexibility in the loan
terms.

Moody's notes that information on the Note level per
Jan. 28, 2008 and information on the pool level as of Oct. 26,
2007 have been provided by the Servicer.  The Cash Management
Report will be available within ten days, and the Quarterly
Investor Report will be available within 65 days after the
January 2008 IPD.  Furthermore, Moody's has been informed by the
Servicer that the Quarterly Investor Report dated July 26, 2007
will be re-circulated after revision of some incorrect figures
being reported.  Moody's will publish a Performance Overview of
the transaction upon the receipt of these reports.


SPORTS CAFE: Agilo Buys Five Branches for Undisclosed Sum
---------------------------------------------------------
Agilo, a London investment firm, has acquired Sports Cafe
Holdings plc's five branches in Birmingham, London, Leeds,
Newcastle upon Tyne and Glasgow, saving the company from
closure, the Financial Times reports, citing Birmingham Mail.

Agilo, however, did not confirm the value of the transaction,
although it is thought that it bought the five bars, which
according to Jason Granite, Agilo's founding partner, will
continue to operate under Sports the Cafe brand, for around
GBP10 million.

"The Sports Cafe has a footprint across the UK leisure market
and is a leading brand with a unique offering," Mr. Granite was
quoted by the FT as saying.

Meanwhile, Sports Cafe's sites in Manchester, Liverpool and
Bristol, which are not included in the deal, were shut down, the
FT relates.

As previously reported in the TCR-Europe on Jan. 21, 2008, Bruce
Mackay and Alan Lovett of Baker Tilly, the joint administrators
of Sports Care Holdings plc, whose shares on AIM were earlier
suspended, put the business up for sale as a going concern.

On Jan. 11, 2008, the company said in a press release that it
called in administrators after its bankers confirmed they could
not provide further facilities after it experienced poor trading
conditions during the 2007 Christmas period and uncertainty over
future 2008 trading in the light of general consumer market
forecasts.

Sports Cafe had a turnover of GBP18.2 million in 2006 while its
losses stood at GBP533,000.

Headquartered in London, England, Sports Cafe Holdings plc --
http://www.sportscafeholdings.com/-- is a sports entertainment   
bar and sports hospitality group.  As at June 2006, it operated
8 U.K. sites under the Sports Cafe brand with a further site in
Cardiff under development.


TELTRONICS INC: Partners with Access & Collier Business Systems
---------------------------------------------------------------
Teltronics, Inc. disclosed a newly formed partnership with
the team members of Access and Collier Business Systems,
Florida's Gulfcoast premier communications provider.  The
transaction is effective as of Jan. 18, 2008.  The new
relationship provides Teltronics the chance to build a strong,
direct sales presence both local and domestically to promote the
Cerato SE, Cerato IP, Cerato ME/LE (digital & VoIP switching
systems), OMNIWorks and the voice, data and network monitoring
solutions.

"We're pleased with the acquisition of Access Communications and
Collier Business Systems.  Teltronics has called Florida home
for 39 years selling through distributors worldwide but has
never had the opportunity to sell direct to the consumer in the
local area," said Teltronics President and Chief Executive
Officer, Ewen Cameron.  "This teaming gives Teltronics an
additional install base of over 3,500 satisfied customers who
are now backed directly by the manufacturer."

Access and Collier Business Systems Managing Partners, Chris
Fickey and John Mitchell said, "The acquisition gives us a
comprehensive, new product offering, more resources, improved
support and an added level of experience while continuing to
support any legacy communications system that our customers
currently own."

Access Communications and Collier Business Systems, serving
Southwest Florida for over 20 years, has provided a diverse
communications platform offering: telephone systems sales and
service, VoIP technology, Voice and Data Cabling, Communications
Consulting, and Voice Mail/Auto Attendant Systems.

                     About Teltronics

Headquartered in Sarasota, Florida, Teltronics Inc. (OTCBB:
TELT) -- http://www.teltronics.com/-- provides communications
solutions and services for businesses.  The company manufactures
telephone switching systems and software for small-to-large size
businesses and government facilities.  Teltronics offers a full
suite of Contact Center solutions -- software, services and
support -- to help their clients satisfy customer interactions.
Teltronics also provides remote maintenance hardware and
software solutions to help large organizations and regional
telephone companies effectively monitor and maintain their voice
and data networks.  The company serves as an electronic contract
manufacturing partner to customers in the U.S. and overseas.

The company designs, installs, develops, manufactures and
markets electronic hardware and application software products
and also engages in electronic manufacturing services in the
telecommunication industry.  The company's products are
classified into intelligent systems management, digital
switching systems, voice over Internet protocol, customer
contact management systems and emergency response systems.
Overall operations are classified into three reportable
segments: Teltronics, Inc., Teltronics Limited (UK) and Mexico.
Its Mexico office is located at Naucalpan de Juarez.

                       *     *     *

As reported in the Troubled Company Reporter-Europe on Jan. 29,
2008, Teltronics Inc.'s consolidated balance sheet at Sept. 30,
2007, showed US$18.4 million in total assets and US$22.8 million
in total liabilities, resulting in a US$4.4 million total
stockholders' deficit.


TEREX CORP: Minnesota Unit Begins Tender Offer to Buy ASV Shares
----------------------------------------------------------------
Terex Corporation disclosed that Terex Minnesota, Inc., a wholly
owned subsidiary of Terex, has commenced a tender offer to
purchase all of the outstanding shares of A.S.V. Inc. common
stock for US$18.00 per share in cash.

The tender offer is being made pursuant to a merger agreement
with ASV, dated as of Jan. 13, 2008, and is scheduled to expire
at midnight, New York City time, at the end of Feb. 25, 2008,
unless extended.

The Board of Directors of ASV has recommended that holders of
shares of ASV common stock accept the Offer and tender their
shares in the Offer.

There is no financing condition to the tender offer.  The tender
offer is subject to the satisfaction of certain conditions set
forth in the Agreement, including there being validly tendered
and not withdrawn a majority of the total number of outstanding
shares of common stock of ASV on a fully-diluted basis, the
receipt of required regulatory approvals and clearances, and
other customary conditions.

                        About ASV

ASV Inc. -- http://www.asvi.com/-- designs, manufactures and
sells rubber track machines and related components, accessories,
and attachments.  Its purpose-built chassis and patented rubber
track undercarriage technology are unique and lead all rubber
track loaders in innovation and performance.  ASV products are
able to traverse nearly any terrain with minimal damage to the
ground, making them effective in markets such as construction,
landscaping, forestry and agriculture.  ASV's wholly owned
subsidiary Loegering Mfg., Inc. designs, manufactures and sells
traction products and attachments for the skid-steer industry.

                 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.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------
Feb. 7, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      PowerPlay
         Philips Arena, Atlanta, Georgia
            Contact: 678-795-8103 or http://www.turnaround.org/

Feb. 7, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Breakfast Event
         Carnelian Room, San Francisco, California
            Contact: 510-346-6000 ext 226 or
               http://www.turnaround.org/

Feb. 7, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      PowerPlay
         Philips Arena, Atlanta, Georgia
            Contact: 678-795-8103 or http://www.turnaround.org/

Feb. 14-16, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      13th Annual Rocky Mountain Bankruptcy Conference
         Westin Tabor Center, Denver, Colorado
            Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 20, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      13 Week Cash Flow
         Courtyard Marriott, Dania Beach, Florida
            Contact: http://www.turnaround.org/

Feb. 20, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Member Appreciation FREE Happy Hour
         Islamorada Fish Company, Dania, Florida
            Contact: 561-882-1331 or http://www.turnaround.org/

Feb. 22, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Bankruptcy Battleground West
         Fairmont Miramar, Santa Monica, California
            Contact: http://www.abiworld.org/

Feb. 23-26, 2008
   NORTON INSTITUTES ON BANKRUPTCY LAW
      Bankruptcy Litigation Seminar I
         Park City, Utah
            Contact: http://www.nortoninstitutes.org/

Feb. 25, 2008
   FINANCIAL RESEARCH ASSOCIATES LLC
      Financial Services Mergers & Acquisitions Deals Forum
         Harvard Club, New York, New York
            Contact: http://www.frallc.com/

Feb. 26, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Member Appreciation FREE Happy Hour
         One Eyed Jacks, Orlando, Florida
            Contact: 561-882-1331 or http://www.turnaround.org/

Feb. 26, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Retail Panel
         Citrus Club, Orlando, Florida
            Contact: http://www.turnaround.org/

Feb. 27-28, 2008
   EUROMONEY INSTITUTIONAL INVESTOR
      6th Annual Distressed Investing Forum
         Union League Club, New York, New York
            Contact: http://www.euromoneyplc.com/

Feb. 27 - Mar. 1, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      CTP Courses
         Holland & Knight, Atlanta, Georgia
            Contact: http://www.turnaround.org/

Mar. 6-8, 2008
   ALI-ABA
      Fundamentals of Bankruptcy Law
         Mandalay Bay Resort, Las Vegas, Nevada
            Contact: http://www.ali-aba.org/

Mar. 8-10, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Conrad Duberstein Moot Court Competition
         St. John's University School of Law, New York
            Contact: http://www.abiworld.org/

Mar. 19, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Rick Cieri of Kirkland & Ellis
         Jamie Sprayregan of Goldman Sachs
            Bankers Club of Miami, Florida
               Contact: 561-882-1331 or
                  http://www.turnaround.org/

Mar. 25, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Dearfoam Slipper Turnaround
         Centre Club, Tampa, Florida
            Contact: 561-882-1331 or http://www.turnaround.org/

Mar. 25-29, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Spring Conference
         Ritz Carlton Grande Lakes, Orlando, Florida
            Contact: http://www.turnaround.org/  

Mar. 27-30, 2008
   NORTON INSTITUTES ON BANKRUPTCY LAW
      Bankruptcy Litigation Seminar II
         Las Vegas, Nevada
            Contact: http://www.nortoninstitutes.org/

Apr. 3, 2008
   INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING
CONFEDERATION
      Annual Spring Luncheon
         Renaissance Hotel, Washington, District of Columbia
            Contact: 703-449-1316 or http://www.iwirc.org/

Apr. 3, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Nuts and Bolts for Young Practitioners - East
         The Renaissance, Washington, District of Columbia
            Contact: http://www.abiworld.org/

Apr. 3-6, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      26th Annual Spring Meeting
         The Renaissance, Washington, District of Columbia
            Contact: http://www.abiworld.org/  

Apr. 7-8, 2008
   PRACTISING LAW INSTITUTE
      30th Annual Current Developments in
         Bankruptcy & Reorganization
            PLI Center New York, New York
               Contact: http://www.pli.edu/

Apr. 10, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Assignment for Benefit of Creditors
         University Club, Jacksonville, Florida
            Contact: http://www.turnaround.org/

Apr. 25-27, 2008
   NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
      NABT Spring Seminar
         Eldorado Hotel & Spa, Santa Fe, New Mexico
            Contact: http://www.nabt.com/  

Apr. 29, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Why Prospects Become Clients
         Citrus Club, Orlando, Florida
            Contact: http://www.turnaround.org/

May 1-2, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      2nd Annual Credit & Bankruptcy Symposium
         Foxwoods Resort Casino, Ledyard, Connecticut
            Contact: http://www.turnaround.org/

May 1-2, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Debt Symposium
         Hilton Garden Inn, Champagne/Urbana, Illinois
            Contact: 1-703-739-0800; http://www.abiworld.org/  

May 9, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Nuts and Bolts for Young Practitioners - NYC
         Alexander Hamilton U.S. Custom House, New York
            Contact: 1-703-739-0800; http://www.abiworld.org/  

May 12, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      New York City Bankruptcy Conference
         Millennium Broadway Hotel & Conference Center,
            New York
               Contact: 1-703-739-0800; http://www.abiworld.org/  

May 12-13, 2008
   PRACTISING LAW INSTITUTE
      30th Annual Current Developments in
         Bankruptcy & Reorganization
            PLI Center San Francisco, California
               Contact: http://www.pli.edu/

May 13-16, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Litigation Skills Symposium
         Tulane University, New Orleans, Louisiana
            Contact: 1-703-739-0800; http://www.abiworld.org/  

May 18-20, 2008
   INTERNATIONAL BAR ASSOCIATION
      14th Annual Global Insolvency & Restructuring Conference
         Stockholm, Sweden
            Contact: http://www.ibanet.org/

May 21, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      What Happened to My Money -
         The Restructuring of a Loan Servicer
         Marriott North, Fort Lauderdale, Florida
            Contact: http://www.turnaround.org/

June 4-7, 2008
   ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
      24th Annual Bankruptcy & Restructuring Conference
         J.W. Marriott Spa and Resort, Las Vegas, Nevada
            Contact: http://www.airacira.org/  

June 12-14, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      15th Annual Central States Bankruptcy Workshop
         Grand Traverse Resort and Spa, Traverse City, Michigan
            Contact: http://www.abiworld.org/  

June 19-21, 2008
   ALI-ABA
      Partnerships, LLCs, and LLPs: Uniform Acts, Taxation,
         Drafting, Securities, and Bankruptcy
            Omni Hotel, San Francisco, California
               Contact: http://www.ali-aba.org/

June 24, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Fraud Panel
         Citrus Club, Orlando, Florida
            Contact: http://http://www.turnaround.org/

June 26-29, 2008
   NORTON INSTITUTES ON BANKRUPTCY LAW
      Western Mountains Bankruptcy Law Seminar
         Jackson Hole, Wyoming
            Contact: http://www.nortoninstitutes.org/

July 10, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Cynthia Jackson of Smith Hulsey & Busey
         University Club, Jacksonville, Florida
            Contact: http://http://www.turnaround.org/

July 10-13, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      16th Annual Northeast Bankruptcy Conference
         Ocean Edge Resort
            Brewster, Massachussets
               Contact: http://www.abiworld.org/events

July 29, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Employment Issues Following Hurricanes & Disasters
         Centre Club, Tampa, Florida
            Contact: http://http://www.turnaround.org/


July 31 - Aug. 2, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      4th Annual Mid-Atlantic Bankruptcy Workshop
         Hyatt Regency Chesapeake Bay
            Cambridge, Maryland
               Contact: http://www.abiworld.org/  

Aug. 16-19, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      13th Annual Southeast Bankruptcy Workshop
         Ritz-Carlton, Amelia Island, Florida
            Contact: http://www.abiworld.org/  

Aug. 20-24, 2008
   NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
      NABT Convention
         Captain Cook, Anchorage, Alaska
            Contact: http://www.nabt.com/  


Aug. 26, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Do's and Don'ts of Investing in a Turnaround
         Citrus Club, Orlando, Florida
            Contact: http://www.turnaround.org/

Sept. 4-5, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Complex Financial Restructuring Program
         Four Seasons, Las Vegas, Nevada
            Contact: http://www.abiworld.org/  

Sept. 4-6, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      Southwest Bankruptcy Conference
         Four Seasons, Las Vegas, Nevada
            Contact: http://www.abiworld.org/  

Sept. 17, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Real Estate / Condo Restructuring Panel
         Marriott North, Fort Lauderdale, Florida
            Contact: http://www.turnaround.org/

Sept. 24-26, 2008
   INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING
      CONFEDERATION
         IWIRC 15th Annual Fall Conference
            Scottsdale, Arizona
               Contact: http://www.ncbj.org/   

Sept. 24-27, 2008
   NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
      National Conference of Bankruptcy Judges
         Desert Ridge Marriott, Scottsdale, Arizona
            Contact: http://www.iwirc.org/

Sept. 30, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Private Equity Panel
         Centre Club, Tampa, Florida
            Contact: http://www.turnaround.org/

Oct. 9, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Luncheon - Chapter 11
         University Club, Jacksonville, Florida
            Contact: http://www.turnaround.org/  

Oct. 28, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      State of the Capital Markets
         Citrus Club, Orlando, Florida
            Contact: http://www.turnaround.org/

Oct. 28-31, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott New Orleans, Louisiana
            Contact: 312-578-6900; http://www.turnaround.org/  

Nov. 19, 2008
   TURNAROUND MANAGEMENT ASSOCIATION
      Interaction Between Professionals in a
         Restructuring/Bankruptcy
         Bankers Club, Miami, Florida
            Contact: 312-578-6900; http://www.turnaround.org/
  
Dec. 3-5, 2008
   AMERICAN BANKRUPTCY INSTITUTE
      20th Annual Winter Leadership Conference
         Westin La Paloma Resort & Spa
            Tucson, Arizona
               Contact: http://www.abiworld.org/  

May 7-10, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      27th Annual Spring Meeting
         Gaylord National Resort & Convention Center
            National Harbor, Maryland
               Contact: http://www.abiworld.org/  

June 11-13, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Central States Bankruptcy Workshop
         Grand Traverse Resort and Spa
            Traverse City, Michigan
               Contact: http://www.abiworld.org/  

June 21-24, 2009
   INTERNATIONAL ASSOCIATION OF RESTRUCTURING, INSOLVENCY &
      BANKRUPTCY PROFESSIONALS
         8th International World Congress TBA
               Contact: http://www.insol.org/  

July 16-19, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      Northeast Bankruptcy Conference
         Mt. Washington Inn
            Bretton Woods, New Hampshire
               Contact: http://www.abiworld.org/  

Sept. 10-12, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      17th Annual Southwest Bankruptcy Conference
         Hyatt Regency Lake Tahoe, Incline Village, Nevada
            Contact: http://www.abiworld.org/   

Oct. 5-9, 2009
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Desert Ridge, Phoenix, Arizona
            Contact: 312-578-6900; http://www.turnaround.org/  

Dec. 3-5, 2009
   AMERICAN BANKRUPTCY INSTITUTE
      21st Annual Winter Leadership Conference
         La Quinta Resort & Spa, La Quinta, California
            Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 4-8, 2010
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         JW Marriott Grande Lakes, Orlando, Florida
            Contact: http://www.turnaround.org/  

BEARD AUDIO CONFERENCES
   2006 BACPA Library   
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/;
               http://researcharchives.com/t/s?20fa

BEARD AUDIO CONFERENCES
   BAPCPA One Year On: Lessons Learned and Outlook
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Calpine's Chapter 11 Filing
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Carve-Out Agreements for Unsecured Creditors
      Contact: 240-629-3300;
         http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Changes to Cross-Border Insolvencies
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Changing Roles & Responsibilities of Creditors' Committees
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Chinas New Enterprise Bankruptcy Law
      Contact: 240-629-3300;
         http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Clash of the Titans -- Bankruptcy vs. IP Rights
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Coming Changes in Small Business Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Corporate Bankruptcy Bootcamp: Fundamentals of BAPCPA
      Proceedings  
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Dana's Chapter 11 Filing
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Deepening Insolvency  Widening Controversy: Current Risks,
      Latest Decisions
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Diagnosing Problems in Troubled Companies
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Distressed Claims Trading
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Distressed Market Opportunities
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Distressed Real Estate under BAPCPA
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Employee Benefits and Executive Compensation under the New
      Code Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Equitable Subordination and Recharacterization
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Fundamentals of Corporate Bankruptcy and Restructuring
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Handling Complex Chapter 11
      Restructuring Issues  
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Healthcare Bankruptcy Reforms
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   High-Yield Opportunities in Distressed Investing
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Homestead Exemptions under BAPCPA
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Hospitals in Crisis: The Insolvency Crisis Plaguing
      Hospitals Across the U.S.
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   IP Rights In Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   KERPs and Bonuses under BAPCPA
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Non-Traditional Lenders and the Impact of Loan-to-Own
      Strategies on the Restructuring Process
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Partnerships in Bankruptcy: Unwinding The Deal
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Privacy Rights, Protections & Pitfalls in Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Real Estate Bankruptcy
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Reverse Mergersthe New IPO?
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Second Lien Financings and Intercreditor Agreements
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Surviving the Digital Deluge: Best Practices in E-Discovery
      and Records Management for Bankruptcy Practitioners
         and Litigators
            Audio Conference Recording
               Contact: 240-629-3300;
                  http://www.beardaudioconferences.com/  

BEARD AUDIO CONFERENCES
   Technology as a Competitive Advantage For Todays Legal
      Processes Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   The Battle of Green & Red: Effect of Bankruptcy
      on Obligations to Clean Up Contaminated Property
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   The Subprime Sector Meltdown:
      Legal Developments and Latest Opportunities
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Twenty-Day Claims  
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Using Virtual Data Rooms to Expedite M&A and
      Insolvency Proceedings
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
   Validating Distressed Security Portfolios: Year-End Price
      Validation and Risk Assessment
         Audio Conference Recording
            Contact: 240-629-3300;
               http://www.beardaudioconferences.com/   

BEARD AUDIO CONFERENCES
   When Tenants File -- A Landlord's BAPCPA Survival Guide
      Audio Conference Recording
         Contact: 240-629-3300;
            http://www.beardaudioconferences.com/  

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday. Submissions via e-mail
to conferences@bankrupt.com are encouraged.


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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.

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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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