TCREUR_Public/080311.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

             Tuesday, March 11, 2008, Vol. 9, No. 50

                            Headlines


A U S T R I A

A 1 PLUSFILM: Claims Registration Period Ends April 9
DEUTSCH LLC: Claims Registration Period Ends March 31
FEND BETEILIGUNG: Claims Registration Period Ends March 5
OASIS FITNESS: Claims Registration Period Ends April 24
SECON SEMICONDUCTOR: Claims Registration Period Ends March 31


B E L G I U M

CHIQUITA BRANDS: In Strategic Agreement With ESCOM & Matanuska
CHIQUITA BRANDS: Terrorism Lawsuits Won't Hurt Firm, Experts Say


F R A N C E

CHARLES JOURDAN: Court Approves EUR2.5 Million Sale to Finzurich
DRESSER-RAND: Earnings Rise to US$44MM in Quarter Ended Dec. 31
GRAHAM PACKAGING: Fitch Affirms B- Issuer Default Rating


G E R M A N Y

AMWO INDUSTRIEFERTIGUNG: Claims Period Ends March 26
AWS GMBH: Claims Registration Period Ends March 31
BC BAU-CONCEPT: Claims Registration Ends April 2
BILO GMBH: Claims Registration Ends April 2
BROSE WETT-SERVICE: Claims Registration Period Ends March 27

BSP BAU: Claims Registration Period Ends March 25
CHAIRMAN GMBH: Claims Registration Period Ends March 20
COMPUPARTNER ELEKTRONIK: Claims Period Ends March 27
DURA AUTOMOTIVE: Files Revised Plan of Reorganization
DURA AUTOMOTIVE: Wants to Hire SRR as Valuation Consultant

EIRICH GASTRONOMIE: Claims Registration Period Ends April 1
KIESEL PRODUKTIONS: Creditors' Meeting Slated for March 17
PREISSLER BAUUNTERNEHMEN: Claims Registration Ends April 1
PROPEX INC: Committee Wants FTI Consulting as Financial Advisor
RAHMING INDUSTRIEBUCHBINDEREI: Claims Registration Ends April 1

SANITATSHAUS GROSS: Claims Registration Period Ends April 1
SORGE SCHALTTECHNIK: Creditors' Meeting Slated for March 19
STEFAN WIETHOLD: Claims Registration Period Ends April 1
SYSTEMBAU LUDWIG: Claims Registration Period Ends April 1
UMATZ AUTOSERVICE: Claims Registration Ends April 1

VESTA-ASSEKURANZ KONTOR: Claims Registration Ends April 1

* German Corporate Insolvencies Down 14.6% in 2007


H U N G A R Y

PROPEX INC: Committee Wants FTI Consulting as Financial Advisor


I R E L A N D

ARAMARK CORPORATION: Fitch Holds IDR at 'B' with Stable Outlook


I T A L Y

INTERNATIONAL RECTIFIER: Hires Donald Dance as EVP & CAO
PARMALAT SPA: Earns EUR674.4 Million for 2007


K A Z A K H S T A N

AGROSOUZ XXI: Creditors Must File Claims by April 11
ASTANA KAZELECTRO: Claims Deadline Slated for April 11
ATS INVEST: Claims Filing Period Ends April 11
BASTANDYK LLP: Creditors' Claims Due on April 11
JAZIRA LLP: Claims Registration Ends April 11

MITSAR LLP: Creditors Must File Claims by March 28
SEMEY TAGAMDARY: Claims Deadline Slated for April 11
SHAHLAN LLP: Claims Filing Period Ends March 28
STALKOM-XXI LLP: Creditors' Claims Due on April 11
STROYSERVICE AGS: Claims Registration Ends April 11


K Y R G Y Z S T A N

GRAND EXCLUSIVE: Creditors Must File Claims by April 15
HOMELINE TELECOM: Claims Filing Period Ends April 15
SOUTH OIL: Claims Registration Ends April 15


L U X E M B O U R G

AMERICAN AXLE: GM Plants in U.S. Lays Off Workers Due to Strike
CA INC: Appoints Michael Christenson as President


N E T H E R L A N D S

CAPRI CONDOMINIUMS: Wants to Hire Kingery & Crouse as Accountant
HEXION SPECIALTY: Discloses Post-Merger Senior Officers
NUMONYX BV: S&P Suspends B Long-Term Corporate Credit Rating
SABIC INNOVATIVE: S&P Affirms Ratings on Parent Support


R U S S I A

HYNIX SEMICON: To Invest US$260MM in China Venture This Year
HYNIX SEMICON: In Talks with Promo on Technology Transfer


S P A I N

AYT COLATERALES: Fitch Rates EUR15.3 Mln Class D Notes at BB-
HIPOTOTTA NO.7: Moody's Junks Rating on EUR20 Mln Class F Notes
NOZAR SA: Avaltransa Wants Court to Open Insolvency Proceedings


S W I T Z E R L A N D

ASPEN INSURANCE: Promotes Mason to Marine & Energy Deputy Head
BLUE WONDER: Creditors' Liquidation Claims Due by March 12
ELVENT JSC: Creditors' Liquidation Claims Due by March 14
EPM ENGINEERING: Creditors' Liquidation Claims Due by March 14
FAXTOR INVESTMENTS: Creditors Must File Claims by March 12

FITNESS-SHOP: Creditors' Liquidation Claims Due by March 14
GEBERT GRAPHIC: Creditors' Liquidation Claims Due by March 12
INNOVADIS JSC: Creditors' Liquidation Claims Due by March 11
JFC JURFINANZ: Creditors' Liquidation Claims Due by March 12
MBM DESIGN: Creditors' Liquidation Claims Due by March 14

OBJECT IDEA: Creditors' Liquidation Claims Due by March 14
PETROLEOS DE VENEZUELA: Foreign Clients Must Pay Through Bank
PILATUSMED LLC: Creditors' Liquidation Claims Due by March 12
SILK & CASHMERE: Creditors' Liquidation Claims Due by March 12


U K R A I N E

ALMADA LLC: Proofs of Claim Deadline Set March 17
BASTION LLC: Creditors Must File Claims by March 17
DONETSK MOTORCAR: Proofs of Claim Deadline Set March 17
EUROCLASS LLC: Creditors Must File Claims by March 17
IRBIS LLC: Creditors Must File Claims by March 17

KAGARLYK MOTORCAR: Proofs of Claim Deadline Set March 17
TREMBITA S: Creditors Must File Claims by March 15
VP OZKV: Creditors Must File Claims by March 15
YUDION-TRADE LLC: Proofs of Claim Deadline Set March 17


U N I T E D   K I N G D O M

ABC LEARNING: CEO Eddy Groves Sells Majority of Stake
ALT DECORATORS: Brings In Liquidators from PKF
APHEX CAPITAL: Moody's Cuts Rating on EUR10 Mln Notes to Ba1
ASP LTD: Claims Filing Period Ends April 11
AWE ELECTRICAL: Appoints Liquidator from Tenon Recovery

BAA LTD: Selling World Duty Free Europe for GBP546.6 Million
CARLYLE CAPITAL: In Talks With Lenders Over Financing Situation
CHEMTURA CORP: Acquires Baxenden Chemicals for GBP13 Million
CITY WALL: Appoints Joint Administrators from Ernst & Young
CLEAR CHANNEL: Extends Closing of Notes Tender Offer to March 18

CUMMINS INC: Names Jean Blackwell as EVP & CEO of Foundation
DOLGARROG ALUMINIUM: Proposed Sale of Business and Assets Fails
E@SY REC: Claims Filing Period Ends March 27
EVOKE 2K: Claims Filing Period Ends May 31
FEDERAL-MOGUL: Inks New Stock Option Pact with CEO Jose Alapont

FORD MOTOR: To Give Out Performance Bonuses to All Employees
FORD MOTOR: Luxury Brands Buyer Says Won't Flip Jaguar
GENERAL MOTORS: Restores CEO's Pay to 2003 Level of US$2.2 Mil.
GENERAL MOTORS: 18 Plants to Lay Off Workers Due to AAM Strike
GENERAL MOTORS: Contracts Provide for Workers When Laid-Off

GREENLAND LTD: Claims Filing Period Ends May 30
HOPKINSON CATERING: Claims Filing Period Ends March 27
ISLE OF CAPRI: Appoints Jim Perry as Chief Executive Officer
ISLE OF CAPRI: S&P Puts BB- Credit Rating Under Negative Watch
NEXUS UNITY: Claims Filing Period Ends March 26

MILLENNIUM STRUCTURES: GE Commercial Taps Deloitte as Receivers
PETROLEOS DE VENEZUELA: Gets OPEC'S Support in Exxon Conflict
PROTEA PRODUCTS: Brings In Administrators from Vantis
PSP SAFETY: Calls In Liquidators from Moore Stephens
SMART BUILD: Taps Liquidators from Vantis Business Recovery

TRIBUTE THIRD: Taps Joint Administrators from David Rubin
VAN AAKEN: Creditors' Meeting Slated for March 18

* Large Companies with Insolvent Balance Sheet


                            *********


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


A 1 PLUSFILM: Claims Registration Period Ends April 9
-----------------------------------------------------
Creditors owed money by LLC A 1 plusFilm- und TV-Filmproduktion
(FN 118288d) have until April 9, 2008, to file written proofs of
claim to court-appointed estate administrator Alexander
Schoeller at:

          Dr. Alexander Schoeller
          c/o  Dr. Stephan Riel
          Landstrasser Hauptstrasse 1/2
          1030 Vienna
          Austria
          Tel: 713 44 33, 713 34 05
          Fax: 713 10 33
          E-mail: kanzlei@jsr.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:50 a.m. on April 23, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1707
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Feb. 18, 2008 (Bankr. Case No. 2 S 19/08v).  Stephan Riel
represents Dr. Schoeller in the bankruptcy proceedings.


DEUTSCH LLC: Claims Registration Period Ends March 31
-----------------------------------------------------
Creditors owed money by LLC DEUTSCH (fka LLC Siegfried Deutsch)
(FN 64305t) have until March 31, 2008, to file written proofs of
claim to court-appointed estate administrator Wolfgang Klobassa
at:

          Dr. Wolfgang Klobassa
          C. v. Hoetzendorfstr. 15
          8570 Voitsberg
          Austria
          Tel: 03142/21850
          Fax: 03142/21850-6
          E-mail: insolvenz@ra-semlitsch-klobassa.at

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

The meeting of creditors will be held at:

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

Headquartered in Rosental an der Kainach, Austria, the Debtor
declared bankruptcy on Feb. 18, 2008 (Bankr. Case No. 40 S
8/08m).


FEND BETEILIGUNG: Claims Registration Period Ends March 5
---------------------------------------------------------
Creditors owed money by LLC Fend Beteiligung (FN 142723m) have
until March 25, 2008, to file written proofs of claim to court-
appointed estate administrator Lukas Pfefferkorn at:

          Mag. Lukas Pfefferkorn
          c/o Dr. Tobias Gisinger
          Schulgasse 7
          6850 Dornbirn
          Austria
          Tel: 05572/20210
          Fax: 05572/34414
          E-mail: office@ktg.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:40 a.m. on April 3, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Feldkirch
          Meeting Room  45
          First Floor
          Feldkirch
          Austria

Headquartered in Altach, Austria, the Debtor declared bankruptcy
on Feb. 18, 2008 (Bankr. Case No. 13 S 9/08s).  Tobias Gisinger
represents Dr. Pfefferkorn in the bankruptcy proceedings.


OASIS FITNESS: Claims Registration Period Ends April 24
-------------------------------------------------------
Creditors owed money by LLC Oasis Fitness & Co Bimbo
Binderpromenade 15 KG (FN 269520d) have until April 24, 2008, to
file written proofs of claim to court-appointed estate
administrator Matthias Schmidt at:

          Dr. Matthias Schmidt
          c/o Dr. Florian Gehmacher
          Dr. Karl Lueger-Ring 12
          1010 Vienna
          Austria
          Tel: 533 16 95
          Fax: 535 56 86
          E-Mail: schmidt@preslmayr.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:20 a.m. on May 8, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1701
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Feb. 18, 2008 (Bankr. Case No. 6 S 24/08h).  Florian
Gehmacher represents Dr. Schmidt in the bankruptcy proceedings.


SECON SEMICONDUCTOR: Claims Registration Period Ends March 31
-------------------------------------------------------------
Creditors owed money by LLC Secon Semiconductor Equipment (FN
177196h) have until March 31, 2008, to file written proofs of
claim to court-appointed estate administrator Bernhard Schatz
at:

          Dr. Bernhard Schatz
          Enzersdorfer Strasse 4
          2340 Moedling
          Austria
          Tel: 02236/89 33 77
          Fax: 02236/89 33 77-95
          E-mail: bernhard.schatz@bpv-huegel.com

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on April 10, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Wiener Neustadt
          Room 15
          Wiener Neustadt
          Austria

Headquartered in Guntramsdorf, Austria, the Debtor declared
bankruptcy on Feb. 19, 2008 (Bankr. Case No. 10 S 18/08p).


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


CHIQUITA BRANDS: In Strategic Agreement With ESCOM & Matanuska
--------------------------------------------------------------
Chiquita Brands International, Inc. disclosed long-term
strategic associations in Africa for the export of bananas
to the company's core European markets from Angola with ESCOM, a
member of Grupo Espirito Santo, and from Mozambique with
Matanuska Africa Limited.  With commercial exports expected to
start in 2010, each project is expected to create approximately
3,000 direct jobs.

These projects in Angola and Mozambique allow the company to
further strengthen the diversity of its geographic sourcing
portfolio, and to provide, upon project completion, an expected
20 to 30 percent of the company's premium quality fruit volume
for European markets, on a tariff free basis.  The decision to
expand Chiquita's African presence was based on the company's
assessment that sourcing from Africa would continue to be cost-
competitive, even if there are future significant reductions in
the import tariff rate applied on Latin American bananas
imported into the European Union.

"We believe that starting banana production in Angola and
Mozambique is an important strategic step that will be very
cost-competitive regardless of the eventual outcome of the
challenges to the EU tariff import regime," said chairperson and
chief executive officer, Fernando Aguirre.  "We are confident
that by leveraging our technical knowledge with the expertise of
our new partners, whose core business is based on a strong
history of operating success in Africa, we will ensure the
reliable production of high-quality, Chiquita-branded fruit.
These projects will significantly increase our sourcing from
tariff-free ACP countries, reaching an estimated 20 to 30
percent of our European volume of premium bananas.  We are also
pleased to contribute to economic opportunities in Africa
through the creation of new jobs and investment with partners
that are committed to sustainable development and corporate
responsibility."

The agreement signed in Benguela, Angola, marks the debut of
Chiquita in Angola and of ESCOM in the agricultural sector.
Contingent upon necessary governmental approvals, the
Agricultural Development Company of Angola, a subsidiary of
ESCOM group and the Angolan company Hipergesta, will establish
banana production in the province of Benguela, with an
investment of more than US$60 million (EUR40 million) provided
by the Agricultural Development Company of Angola.  In addition,
Chiquita recently entered into an agreement with Matanuska
Africa Limited for a similar project that is already underway to
develop banana production in Mozambique.

While Chiquita will not provide capital for either project, the
company will support the projects with its expertise in farm
development, good agricultural practices, training of local
workers, logistics, marketing and distribution to European
markets of premium Chiquita branded product.  Both operations
have committed themselves to meeting Chiquita's high standards
of environmental, labor, social and food safety performance.
The first commercial exports to Europe are expected in 2010,
after planting anticipated to begin later this year.

                         ESCOM Group

ESCOM -- http://www.escom.pt-- a member of the Espirito Santo
group, is currently one of the largest private foreign investors
in Angola, operating in the areas of mining, real estate,
energy, aviation, fishery and procurement.  It also operates in
the public works sector in Congo-Brazzaville and in the
provision of services in South Africa and Mozambique.  ESCOM
promotes sustainable development at an economic, social and
environmental level by bringing sustainable development to the
people and countries it serves.

                     Matanuska Africa Ltd.

Matanuska Africa Limited is a partnership comprised of Matanuska
Mauritius and Rift Valley Holdings, who have over 40 years
experience growing bananas in the region for sale into local
African markets as well as extensive agricultural experience in
organic fair trade tea, coffee, coconut, and sustainable
forestry.

                     About Chiquita Brands

Headquartered in Cincinnati, Ohio, Chiquita Brands International
Inc. (NYSE:CQB) -- http://www.chiquita.com/-- operates as an
international marketer and distributor of bananas and other
fresh produce sold under the Chiquita and other brand names in
over 80 countries.  It sells packaged salads under the Fresh
Express brand name primarily in the United States.  The company
also distributes and markets fresh-cut fruit and other branded,
value-added fruit products.  Chiquita operates its business
through three segments: the banana segment includes the
sourcing, transportation, marketing and distribution of bananas;
the fresh select segment includes the sourcing, marketing and
distribution of whole fresh fruits and vegetables other than
bananas, and the fresh cut segment includes value-added salads,
foodservice and fresh-cut fruit operations.  Remaining
operations, reported in other, primarily consist of processed
fruit ingredient products, which are produced in Latin America
and sold in other parts of the world, and other consumer
packaged goods.

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

                           *     *     *

As reported in the Troubled Company Reporter-Europe on March 3,
2008, Moody's Investors Service rated the proposed new senior
secured guaranteed bank agreements of Chiquita Brands, LLC at
Ba3.  The ratings on CBLLC's existing bank revolving credit
agreement and term loan C are upgraded to Ba3 from B1, and will
be withdrawn when the new bank agreements are executed.  Parent
Chiquita Brands International, Inc.'s ratings are affirmed,
including its B3 corporate family rating and B3 probability of
default rating.  The rating outlook remains negative.

As reported in the Troubled Company Reporter-Europe on Feb. 28,
2008, Standard & Poor's Ratings Services assigned its 'CCC'
senior unsecured rating to Chiquita Brands International Inc.'s
US$200 million convertible senior notes due 2016.  Net proceeds
from the issuance were used to repay a portion of the US$375
million term loan C (US$132 million outstanding at Dec. 31,
2007, pro forma for this notes offering) of its senior secured
credit facility.  About US$820 million of debt was outstanding
at Dec. 31, 2007.


CHIQUITA BRANDS: Terrorism Lawsuits Won't Hurt Firm, Experts Say
----------------------------------------------------------------
Lawsuits on Chiquita Brands International Inc.'s alleged
involvement in terrorism won't stop consumers from purchasing
its bananas, WTOL News reports, citing legal and business
experts.

As previously reported, Colombian terrorism victims filed in the
U.S. District Court in Manhattan an almost US$8-billion lawsuit
against the U.S. banana firm Chiquita Brands International for
paying the terrorist group The United Self-Defense Forces of
Colombia.  The Colombian government said that it would seek
the Chiquita Brands International officials' extradition if they
had broken local law after the company made a US$25-million
settlement for paying off terrorists.  The U.S. federal court
ordered Chiquita Brands to pay US$25 million in fines for paying
millions of dollars to Colombian terrorist groups from 1997 to
2004.  Chiquita Brands pleaded guilty to paying some US$1.7
million to Colombian paramilitary group United Self-Defense
Committees of Colombia, explaining that the payments were made
by a former unit due to threats to the safety of workers.  The
Honorable Royce Lamberth authorized an accord between Chiquita
Brands and the US government in March 2007 that spared company
officials.  Theprosecution also agreed not to name or prosecute
Chiquita Brands executives who were involved in paying the
terrorist groups.  Colombian officials were angry the
settlement.  The fine was small compared to other cases.

Headquartered in Cincinnati, Ohio, Chiquita Brands International
Inc. (NYSE:CQB) -- http://www.chiquita.com/-- operates as an
international marketer and distributor of bananas and other
fresh produce sold under the Chiquita and other brand names in
over 80 countries.  It sells packaged salads under the Fresh
Express brand name primarily in the United States.  The company
also distributes and markets fresh-cut fruit and other branded,
value-added fruit products.  Chiquita operates its business
through three segments: the banana segment includes the
sourcing, transportation, marketing and distribution of bananas;
the fresh select segment includes the sourcing, marketing and
distribution of whole fresh fruits and vegetables other than
bananas, and the fresh cut segment includes value-added salads,
foodservice and fresh-cut fruit operations.  Remaining
operations, reported in other, primarily consist of processed
fruit ingredient products, which are produced in Latin America
and sold in other parts of the world, and other consumer
packaged goods.

Chiquita, with revenues of approximately US$4.7 billion for the
fiscal year ended Dec. 31, 2007, employs approximately 25,000
people operating in more than 70 countries worldwide, including
Belgium, Columbia, Germany, Panama, Philippines, among others.

                           *     *     *

As reported in the Troubled Company Reporter-Europe on March 3,
2008, Moody's Investors Service rated the proposed new senior
secured guaranteed bank agreements of Chiquita Brands, LLC at
Ba3.  The ratings on CBLLC's existing bank revolving credit
agreement and term loan C are upgraded to Ba3 from B1, and will
be withdrawn when the new bank agreements are executed.  Parent
Chiquita Brands International, Inc.'s ratings are affirmed,
including its B3 corporate family rating and B3 probability of
default rating.  The rating outlook remains negative.

As reported in the Troubled Company Reporter-Europe on Feb. 28,
2008, Standard & Poor's Ratings Services assigned its 'CCC'
senior unsecured rating to Chiquita Brands International Inc.'s
US$200 million convertible senior notes due 2016.  Net proceeds
from the issuance were used to repay a portion of the US$375
million term loan C (US$132 million outstanding at Dec. 31,
2007, pro forma for this notes offering) of its senior secured
credit facility.  About US$820 million of debt was outstanding
at Dec. 31, 2007.


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


CHARLES JOURDAN: Court Approves EUR2.5 Million Sale to Finzurich
----------------------------------------------------------------
The Commercial Court in Romans-sur-Isere approved the sale of
Charles Jourdan SAS to investment fund Finzurich for
EUR2,500,000, Bloomberg News reports citing Les Echos.

According to the report, Costa-Rica-based Finzurich, proposed an
immediate investment of EUR15 million to resume production at
Charles Jourdan.  Finzurich also plans to keep 130 Charles
Jourdan workers.

Finzurich aims to produce 150,000 pairs of shoes in the next
three years and to launch two new lines, Les Echos relates.

Headquartered in Romans Sur Isere, France, Charles Jourdan --
http://www.charles-jourdan.fr/-- manufactures luxury footwear.

As reported in the TCR-Europe, the commercial court in Romans-
sur-Isere placed Charles Jourdan into liquidation on Dec. 17,
2007, after U.S. firm Omniscent withdrew its offer to acquire
the company's assets.

The court placed Charles Jourdan in compulsory administration on
Sept. 12, 2007, after it filed for redressment judiciaire, the
French equivalent of Chapter 11 bankruptcy protection, for the
second time.

The company first filed for bankruptcy on Aug. 22, 2005.
Avendis and Finaluxe bought the company on Nov. 2, 2005.


DRESSER-RAND: Earnings Rise to US$44MM in Quarter Ended Dec. 31
---------------------------------------------------------------
Dresser-Rand Group Inc. reported financial results for fourth
quarter and year ended Dec. 31, 2007.

The company reported net income of US$43.8 million for the
fourth quarter 2007, compared with net income of US$32.9 million
for the fourth quarter 2006.

Net income was US$106.7 million for 2007 compared to a net
income of US$78.8 million for 2006.

"2007 was a year of record performance. Revenues increased 11%,
operating income increased 12% and our year-end backlog was at a
record level," Vincent R. Volpe Jr., president and chief
executive officer of Dresser-Rand, said.

"Consistent with our expectation at the start of the fourth
quarter, we experienced a strong recovery in our aftermarket
bookings and shipments," Mr. Volpe added.  "Aftermarket bookings
in the fourth quarter of 2007 increased approximately 16% over
the fourth quarter of 2006.

"I am also pleased that our bargaining unit employees at our
Painted Post, New York facility have returned to work after a
17 week work stoppage," Mr. Volpe continued.  "They have chosen
to return to work under the terms of the company's implemented
last offer, which includes important changes to work rules and
the elimination of future retiree healthcare benefits for
certain employees."

"We had expected to be able to record a non-cash curtailment
gain in 2007 in connection with the elimination of retiree
heathcare benefits for certain employees, Mr. Volpe related.
"However, it has been determined that the benefit change as
implemented represents a plan amendment.  Therefore, the
resulting curtailment amendment reduction of US$18.6 million in
the accumulated benefit obligation is expected to be amortized
to income over 36 months beginning in January 2008."

"We enter 2008 with a backlog of approximately US$1.9 billion,
continuing strong markets and a well-defined business strategy
focused on increased production and bolt-on acquisitions," he
said.

                 Liquidity and Capital Resources

As of Dec. 31, 2007, cash and cash equivalents totaled
US$206.2 million and borrowing availability under the company's
US$500 million senior secured credit facility was US$273.0
million, as US$227.0 million was used for outstanding letters of
credit.

In 2007, cash provided by operating activities was US$216.0
million compared to US$164.1 million in 2006.  The increase of
US$51.9 million in net cash provided by operating activities was
principally from changes in working capital and improved
operating performance.

In 2007, net capital investments totaled US$26.0 million and the
company prepaid US$137.2 million of its outstanding indebtedness
under its senior secured credit facility.  As of Dec. 31, 2007,
total debt was US$370.5 million and total debt net of cash and
cash equivalents was approximately US$164.3 million.

In August 2007, the company amended its senior secured credit
facility.  The amended credit facility is a five year,
US$500 million revolving credit facility.  The amendment
increased the size of the facility by US$150 million, lowered
borrowing costs 50 basis points to LIBOR plus 150 basis points
at present leverage and extended the maturity date from Oct. 29,
2009, to Aug. 30, 2012.  The amendment also reduced the
commitment fee from 37.5 basis points to 30.0 basis points.

At Dec. 31, 2007, the company's balance sheet showed total
assets of US$1.95 billion, total liabilities  of US$1.15 billion
and total stockholders' equity of US$0.80 billion.

             Internal Control Over Financial Reporting

The company concluded that its internal control over financial
reporting as of Dec. 31, 2007, was effective.  "Eliminating all
of the disclosed material weaknesses is a great milestone for
the company and reflects the hard work and excellent team effort
of many of our employees across the entire worldwide
organization," Lonnie A. Arnett, vice president, controller and
chief accounting officer of Dresser-Rand, said.

                    About Dresser-Rand Group

Headquartered in Houston, Texas, Dresser-Rand Group Inc. (NYSE:
DRC) -- http://www.dresser-rand.com/-- supplies rotating
equipment solutions to the worldwide oil, gas, petrochemical,
and process industries.  The company operates manufacturing
facilities in the United States, France, Germany, Norway, India,
and Brazil, and maintains a network of 26 service and support
centers covering more than 140 countries.

                          *     *     *

Moody's Investor Service placed Dresser-Rand Group Inc.'s
probability of default rating at 'Ba3' in September 2006.  The
rating still holds to date with a stable outlook.


GRAHAM PACKAGING: Fitch Affirms B- Issuer Default Rating
--------------------------------------------------------
Fitch Ratings affirmed Graham Packaging Company, L.P.'s Issuer
Default Rating and ratings on the senior secured credit facility
and senior subordinated notes as follows:

Graham Packaging Company, L.P and subsidiary GPC Capital Corp. I

     -- IDR 'B-';
     -- Senior secured revolving credit facility 'B/RR3';
     -- Senior secured term loan 'B/RR3';
     -- Senior subordinated notes 'CCC/RR6'.

Fitch has also revised this rating:

     -- Senior unsecured notes downgraded to 'CCC/RR6' from
        'CCC+/RR5'.

The Rating Outlook is Stable. Approximately US$2.5 billion of
debt is covered by the ratings.

The affirmation of Graham's 'B-' IDR and current ratings are
supported by the company's leading market shares across its
product categories, strong customer relationships, on-site
integration with many customers, investment in proprietary
technology, and favorable product packaging trends toward
plastics.  Rating concerns include high leverage, weak free cash
flow, resin price volatility, customer concentration, and
moderate or declining sales growth in three out of four product
categories, as well as moderating growth in the historically
strongest food and beverage segment.

The Stable Outlook reflects the relatively steady demand in
Graham's key end markets, and the company's ability to generate
improving (though still weak) free cash flow in recent quarters.

The Recovery Ratings and notching in the debt structure reflect
Fitch's recovery expectations under a scenario in which Graham's
operating performance has been stressed, and the distressed
enterprise value is allocated to the various debt classes.  The
ratings action on the senior unsecured notes was taken following
a recent update to Fitch's recovery analysis for Graham, in
which the allocation of the estimated distressed enterprise
value was modified.  Previously, Fitch assumed there would be
concession payments to holders of unsecured and subordinated
debt obligations, but Fitch now estimates that concession
payments to junior noteholders are not likely given that in
Fitch's distressed scenario the senior secured bank debt would
possibly not obtain full recovery and is rated 'RR3' (estimated
51% to 70% recovery).  Without concession payments, the
unsecured and subordinated classes are likely to obtain very
little, if any recovery, qualifying both classes as 'RR6'
(estimated 0% to 11% recovery).  The downgrade to 'CCC' from
'CCC+' is based on Fitch's recovery methodology wherein the
notching for a debt obligation rated 'RR6' is two levels below
the IDR.

As of Sept. 30, 2007 Graham had liquidity of US$318 million
consisting of US$78.7 million of cash and US$239.3 million of
revolver availability.  By Fitch calculations, LTM operating
EBITDA of US$382.5 million grew 9.6% over the fiscal year-end
2006 figure, while margin improved 162 basis points to 15.46%.
Total Debt to operating EBITDA improved to 6.6 times (x) at
Sept. 30, 2007 from 7.3x at Dec. 31, 2006.  Covenant compliance
EBITDA was US$434.3 million at Sept. 30, 2007, yielding a total
leverage ratio of 5.8x.

Fitch will conduct further analysis of Graham's financial
performance when fiscal 2007 results are released in the next
few weeks.

                    About Graham Packaging

Based in York, Pennsylvania, Graham Packaging Company, LP,
formerly known as Graham Packaging Holdings I LP, --
http://www.grahampackaging.com/-- designs and manufactures
customized blow-molded plastic containers for branded food and
beverages, household and personal care products, and automotive
lubricants.  The company has approximately 8,700 employees at 87
plants in 15 countries and 350+ production lines.  Aside from
the U.S., the company has a technological center in France and
Poland.  The company also has filed sales offices in Canada,
France, Argentina, Brazil, and Poland.  Graham Packaging has 4
plants in Mexico.

The company has no assets, liabilities or operations other than
its direct and indirect investments in the Operating Company and
its ownership of GPC Capital Corp. II, its wholly owned
subsidiary.


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


AMWO INDUSTRIEFERTIGUNG: Claims Period Ends March 26
----------------------------------------------------
Creditors of AMWO Industriefertigung und -anlagenwartungs GmbH
have until March 26, 2008, to register their claims with court-
appointed insolvency manager Hans-Joerg Derra.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on May 9, 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 Dresden
         Hall D131
         Olbrichtplatz 1
         01099 Dresden
         Germany

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

The insolvency manager can be reached at:

         Hans-Joerg Derra
         Koenigsbruecker Strasse 61
         01099 Dresden
         Germany
         Website: www.derra.de

The District Court of Dresden opened bankruptcy proceedings
against AMWO Industriefertigung und -anlagenwartungs GmbH on
Feb. 22, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         AMWO Industriefertigung und -
         anlagenwartungs GmbH
         Lohmener Strasse 11
         01796 Pirna
         Germany

         Attn: Volker Ruben, Manager
         geboren 1954
         Lugturmstrasse 3b
         01809 Heidenau
         Germany


AWS GMBH: Claims Registration Period Ends March 31
--------------------------------------------------
Creditors of AWS GmbH Express Kurierdienst und Spedition i. L.
have until March 31, 2008, to register their claims with court-
appointed insolvency manager Dr. Robert Schiebe.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 30, 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 Bingen am Rhein
         Room 7
         Law Courts
         Mainzer Road 52
         55411 Bingen am Rhein
         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. Robert Schiebe
         Lauterrenstr. 37
         55116 Mainz
         Germany

The District Court of Bingen am Rhein opened bankruptcy
proceedings against AWS GmbH Express Kurierdienst und Spedition
i. L. on Feb. 22, 2008.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be reached at:

         AWS GmbH Express Kurierdienst und
         Spedition i. L.
         Zotzenheimer Landstr. 64
         55576 Sprendlingen
         Germany

         Attn: Kerstin Aberle, Manager
         Kaiserstr. 27b
         67722 Winnweiler


BC BAU-CONCEPT: Claims Registration Ends April 2
------------------------------------------------
Creditors of BC Bau-Concept GmbH have until April 2, 2008 to
register their claims with court-appointed insolvency manager
Dr. Christoph Junker.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on May 15, 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 28
         Fuerstenstrasse 21-23
         09130 Chemnitz
         Germany

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

The insolvency manager can be reached at:

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

The District Court of Chemnitz opened bankruptcy proceedings
against BC Bau-Concept GmbH on Feb. 21, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         BC Bau-Concept GmbH
         Attn: Andreas Goetze, Manager
         Altchemnitzer Strasse 27
         09120 Chemnitz
         Germany


BILO GMBH: Claims Registration Ends April 2
-------------------------------------------
Creditors of BiLo GmbH Bauzuschlagstoffe - Abbruch - Recycling
have until April 2, 2008 to register their claims with court-
appointed insolvency manager Marcello Di Stefano.

Creditors and other interested parties are encouraged to attend
the meeting at 11:15 a.m. on April 30, 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
         Meeting Hall A 0105
         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:

         Marcello Di Stefano
         Jonny Schehr Str. 1
         99085 Erfurt
         Germany

The District Court of Meiningen opened bankruptcy proceedings
against  BiLo GmbH Bauzuschlagstoffe - Abbruch - Recycling on
Feb. 1, 2008.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         BiLo GmbH Bauzuschlagstoffe - Abbruch - Recycling
         Gothaer Strasse 97 b
         99848 Wutha-Farnroda
         Germany


BROSE WETT-SERVICE: Claims Registration Period Ends March 27
------------------------------------------------------------
Creditors of BROSE Wett-Service GmbH have until March 27, 2008,
to register their claims with court-appointed insolvency manager
Dr. Nikolaus Schmidt.

Creditors and other interested parties are encouraged to attend
the meeting at 11:10 a.m. on April 24, 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 037
         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:

         Dr. Nikolaus Schmidt
         Magdeburger Str. 23
         06112 Halle
         Germany
         Tel: 0345/231110
         Fax: 0345/2311199
         E-mail: Dr.Frenzel.u.Kollegen@t-online

The District Court of Leipzig opened bankruptcy proceedings
against BROSE Wett-Service GmbH on Feb. 22, 2008.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         BROSE Wett-Service GmbH
         Attn: Wolfgang Backeshoff, Manager
         Christianstrasse 21
         04105 Leipzig
         Germany


BSP BAU: Claims Registration Period Ends March 25
-------------------------------------------------
Creditors of BSP Bau Service GmbH Pirna Bautrager und
Baubetreuungsgesellschaft have until March 25, 2008, to register
their claims with court-appointed insolvency manager Henning
Schorisch.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on May 6, 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 Dresden
         Hall D131
         Olbrichtplatz 1
         01099 Dresden
         Germany

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

The insolvency manager can be reached at:

         Henning Schorisch
         Wasastrasse 15
         01219 Dresden
         Germany
         Website: www.hww-kanzlei.de

The District Court of Dresden opened bankruptcy proceedings
against BSP Bau Service GmbH Pirna Bauträger und
Baubetreuungsgesellschaft on Feb. 25, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         BSP Bau Service GmbH Pirna Bautrager und
         Attn: Heinz Winter, Manager
         Baubetreuungsgesellschaft
         Bahnhofstrasse 21
         01796 Pirna
         Germany


CHAIRMAN GMBH: Claims Registration Period Ends March 20
-------------------------------------------------------
Creditors of The Chairman GmbH have until March 20, 2008, to
register their claims with court-appointed insolvency manager
Dr. Axel Kampmann.

Creditors and other interested parties are encouraged to attend
the meeting at 11:15 a.m. on April 17, 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 Arnsberg
         Meeting Room 328
         Eichholzstr. 4
         59821 Arnsberg
         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. Axel Kampmann
         Goethestrasse 24
         59755 Arnsberg
         Germany

The District Court of Arnsberg opened bankruptcy proceedings
against The Chairman GmbH on Feb. 19, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         The Chairman GmbH
         Neheimer Strasse 10
         59469 Ense
         Germany

         Attn: Sven Franke, Manager
         Am Weissen Kreuz
         59469 Ense
         Germany


COMPUPARTNER ELEKTRONIK: Claims Period Ends March 27
----------------------------------------------------
Creditors of  & Service Grosshandels - GmbH have until
March 27, 2008, to register their claims with court-appointed
insolvency manager Burghard Wegener.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on April 10, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Goettingen
         Hall B11
         Berliner Strasse 8
         37073 Goettingen
         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:

         Burghard Wegener
         Obere Karspuele 36
         D 37073 Goettingen
         Germany
         Tel: 0551/9003660
         Fax: 0551/90036629

The District Court of Goettingen opened bankruptcy proceedings
against  & Service Grosshandels - GmbH on Feb. 14, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         CompuPartner Elektronik & Service
         Grosshandels - GmbH
         Attn:Peter Sadurska, Manager
         Hans-Boeckler-Str. 2
         37079 Goettingen
         Germany


DURA AUTOMOTIVE: Files Revised Plan of Reorganization
-----------------------------------------------------
DURA Automotive Systems, Inc. and its debtor-affiliates filed
its revised Chapter 11 Plan of Reorganization with the U.S.
Bankruptcy Court for the District of Delaware.  The Plan
reflects a consensual agreement among DURA'S key creditor
constituencies.  DURA intends to proceed on an expedited basis
to obtain Court approval of the Plan and emerge from Chapter 11.

"The filing marks an important milestone in the company's
efforts to emerge from its Chapter 11 reorganization process in
the very near term," Larry Denton, Chairman and Chief Executive
Officer of DURA Automotive Systems, said.  "Though weak credit
markets delayed the emergence process during the fourth quarter
of 2007, we have worked productively with our creditors to
develop a revised Plan that places the company on an even firmer
footing by reducing the amount of required exit financing."

The Plan filed is a revision of the previous version of DURA's
Plan, filed on Aug. 22, 2007.  The Plan is supported by DURA's
key creditor constituencies.  Although certain supporting
documentation continues to be refined, the Official Committee of
Unsecured Creditors and the Ad Hoc Committee of Certain Second
Lienholders have agreed in principle to support the Plan.

The Plan provides, among other things, details on how the
company intends to treat more than US$1.3 billion in claims,
which takes into account changed economics.

In light of these events, key terms of DURA'S revised Plan are:

Second Lien Claims will receive approximately US$225 million in
new Convertible Preferred Stock Senior Notes and Other General
Unsecured Claims will receive 100% of New Common Stock (without
giving effect to the conversion of the Convertible Preferred
Stock) Debtor-in-Possession claims, administrative expenses, and
certain other priority claims will receive a full cash recovery
Funding for the revised Plan will include a committed US$80
million second lien loan facility, provided by certain of the
company's creditors, in addition to a US$150 million first lien
term loan.  Upon emergence, DURA expects to be a publicly
reporting company under SEC rules.  The company's pre-bankruptcy
subordinated notes, convertible preferred securities and
existing equity will not receive recoveries under the Plan.

Within the next few days, DURA intends to file a revised
Disclosure Statement, which will provide additional information
about the Plan.  DURA will request that the Court approve the
adequacy of that Disclosure Statement at a hearing to be
scheduled in early April, with a solicitation of creditor
acceptances to follow shortly thereafter.

DURA is advised by AlixPartners, Kirkland & Ellis and Miller
Buckfire in connection with its Chapter 11 reorganization.

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.  The Debtors
have asked the Court to extend their plan filing period to April
30, 2008.

(Dura Automotive Bankruptcy News Issue No. 47; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).


DURA AUTOMOTIVE: Wants to Hire SRR as Valuation Consultant
----------------------------------------------------------
DURA Automotive Systems Inc. and its debtor-affiliates seek
authority from the U.S. Bankruptcy Court for the District of
Delaware to employ Stout Risius Ross, Inc., as valuation
consultant, nunc pro tunc to Feb. 8, 2008.

Jason M. Madron, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, relates that the Debtors have previously
retained SRR as one of their ordinary course professional.

As OCP, SRR has billed and received from the Debtors US$36,942,
as payment for fees and reimbursement of expenses for services
it rendered from the Petition Date through Dec. 31, 2007, Mr.
Madron tells the Court.  However, the OCP Order has limited
payment to OCPs at US$25,000 per month on average over a rolling
two-month period.

Mr. Madron says the Debtors expect that SRR's fees in relation
to the valuation and related consulting services for the Debtors
will exceed the OCP Cap, thus the Debtors are seeking to employ
SRR pursuant to Sections 327(a) and 328(a) so that the firm can
be adequately compensated for their services.

As valuation consultants, SRR will:

   * estimate the fair value of certain tangible and intangible
     assets, equity interests, and reporting units of the
     Debtors for fresh-start accounting purposes;

   * estimate the Fair Value of the Debtors' body and glass
     reporting unit and assets in support of their compliance
     with the Statement of Financial Accounting Standards No.
     142, which addresses accounting and reporting of acquired
     goodwill and intangible assets;

   * provide an indication of the reproduction cost of the
     tangible assets for property insurance placement purposes;
     and

   * provide analysis with respect to the Debtors' assets as of
     the Petition Date.

In exchange for the contemplated legal services, the Debtors
will pay SRR based on the firm's applicable hourly rates:

             Professional             Hourly Rate
             ------------             -----------
             Managing Director        US$300 - US$500
             Director                 US$255 - US$300
             Manager                  US$200 - US$225
             Senior Analyst           US$150 - US$200
             Associate                US$100 - US$150
             Analyst                  US$100 - US$150

The Debtors estimate that professional services to be provided
by SRR will total approximately US$360,000.  Mr. Madron says the
fee estimate does not include any out-of-pocket expenses which
will be billed at the actual amounts incurred.

The Debtors have also agreed to provide SRR a US$50,000
retainer, which retainer will be applied against SRR's final
invoice.

John N. Ross, Esq., a partner at SRR, assures the Court that his
firm does not represent any interest adverse to the Debtors and
their estates, and is a "disinterested person,"as the term is
defined in Section 101(14).

                            About DURA

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

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

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

Togut, Segal & Segal LLP is the Debtors' conflicts counsel.
Miller Buckfire & Co., LLC is the Debtors' investment banker.
Glass & Associates Inc., gives financial advice to the Debtor.
Kurtzman Carson Consultants LLC handles the notice, claims and
balloting for the Debtors and Brunswick Group LLC acts as their
Corporate Communications Consultants for the Debtors.

As of July 2, 2006, the Debtor had US$1,993,178,000 in total
assets and US$1,730,758,000 in total liabilities.  The Debtors
have asked the Court to extend their plan filing period to April
30, 2008.

(Dura Automotive Bankruptcy News Issue No. 47; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).


EIRICH GASTRONOMIE: Claims Registration Period Ends April 1
-----------------------------------------------------------
Creditors of Eirich Gastronomie GmbH have until April 1, 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 9:00 a.m. on May 14, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

          The District Court of Munich
          Meeting Hall 101
          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
          Schwanthaler Str. 32
          80336 Munich
          Germany
          Tel: 089/54511-0
          Fax: 089/54511-444

The District Court of Munich opened bankruptcy proceedings
against Eirich Gastronomie GmbH on Feb. 21, 2008.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

          Eirich Gastronomie GmbH
          Yorkstrasse 48
          10965 Berlin
          Germany


KIESEL PRODUKTIONS: Creditors' Meeting Slated for March 17
----------------------------------------------------------
The court-appointed insolvency manager for Kiesel Produktions-
GmbH & Co. KG, Stephan Koenicke will present his first report on
the Company's insolvency proceedings at a creditors' meeting at
9:40 a.m. on March 17, 2008.

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

         The District Court of Saarbruecken
         Meeting Hall 24
         Second Floor
         Vopeliusstrasse 2
         66280 Sulzbach
         Germany

The Court will also verify the claims set out in the insolvency
manager's report at 9:00 a.m. on May 5, 2008 at the same venue.

Creditors have until April 2, 2008 to register their claims with
the court-appointed insolvency manager.

The insolvency manager can be reached at:

         Stephan Koenicke
         Beethovenstrasse 16
         66606 St. Wendel
         Germany
         Tel: 06851/939 8770
         Fax: 06851/939 8790

The District Court of Saarbruecken opened bankruptcy proceedings
against Kiesel Produktions-GmbH & Co. KG on Feb. 19, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Kiesel Produktions-GmbH & Co. KG
         Attn: Uwe J. Umlauff, Manager
         Forstgarten 18
         66459 Kirkel
         Germany


PREISSLER BAUUNTERNEHMEN: Claims Registration Ends April 1
----------------------------------------------------------
Creditors of Preissler Bauunternehmen GmbH have until April 1,
2008, to register their claims with court-appointed insolvency
manager Christoph Junker.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 22, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

          The District Court of Dresden
          Hall D 132
          Olbrichtplatz 1
          01099 Dresden
          Germany

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

The insolvency manager can be reached at:

          Dr. Christoph Junker
          Karcherallee 25 a
          01277 Dresden
          Germany
          E-mail: www.junker-kollegen.de

The District Court of Dresden opened bankruptcy proceedings
against Preissler Bauunternehmen GmbH on Feb. 15, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Preissler Bauunternehmen GmbH
          Attn: Herbert Preissler, Manager
          Frauensteiner Str. 19
          01776 Hermsdorf
          Germany


PROPEX INC: Committee Wants FTI Consulting as Financial Advisor
---------------------------------------------------------------
The Official Committee of Unsecured Creditors of Propex Inc. and
its debtor-affiliates seeks authority from the U.S. Bankruptcy
Court for the Eastern District of Tennessee to retain FTI
Consulting, Inc., as its financial advisors, effective as of
Jan. 31, 2008.

Stephen Cooke, chairperson of the Creditors Committee, relates
that they selected FTI because the firm has a lot of experience
in providing financial advisory services in restructurings and
reorganizations in large and complex Chapter 11 cases on behalf
of debtors and creditors throughout the United States.

Mr. Cooke points out FTI's services are necessary to enable the
Creditors Committee to assess and monitor the efforts of the
Debtors and their professional advisors to maximize the value of
their estates and to reorganize successfully.

As the Creditors Committee's financial advisors, FTI will:

   * assist the Creditors Committee in the review of financial
     related disclosures required by the Court, including the
     Schedules of Assets and Liabilities, the Statement of
     Financial Affairs and Monthly Operating Reports;

   * assist the Creditors Committee with information and
     analyses required pursuant to the Debtors' DIP financing;

   * assist and advice the Creditors Committee with respect to
     the Debtors' identification of core business assets and the
     disposition of assets or liquidation of unprofitable
     operations;

   * review the Debtors' performance of cost or benefit
     evaluations with respect to the affirmation or rejection of
     various executory contracts and leases;

   * evaluate the present level of operations and identification
     of areas of potential cost savings, including overhead and
     operating expense reductions and efficiency improvements;

   * review the financial information distributed by the Debtors
     to creditors and others;

   * attend meetings and assist in discussions with the Debtors,
     potential investors, banks, other secured lenders, the
     Creditors Committee and any other official committees
     organized in the Chapter 11 proceedings, the United States
     Trustee, other parties in interest;

   * review and prepare information and analysis necessary for
     the confirmation of a plan in these chapter 11 proceedings;

   * assist in the valuation of the business and review of
     capital structure alternatives;

   * assist in the evaluation and analysis of avoidance actions,
     including fraudulent conveyances and preferential
     transfers; and

   * render all other general business consulting or assistance
     as the Creditors Committee or its counsel may deem
     necessary that are consistent with the role of a financial
     advisor and not duplicative of services provided by other
     professionals in this proceeding.

For its services, FTI will be paid:

   (1) a fixed monthly rate of US$150,000 for the first three
       months of the bankruptcy cases;

   (2) US$125,000 per month thereafter; plus

   (3) a completion fee payable of US$1,000,000, at the option
       of the Creditors Committee, upon the occurrence of the
       effective date of a Chapter 11 Plan of Reorganization.

In addition, FTI will be reimbursed for actual and necessary
expenses it has incurred or will incur, including any legal fees
related to the firm's retention and defense of fee applications
in the Debtors' cases.

Steven Simms, Esq., a partner at FTI, assures the Court that his
firm is a "disinterested person," as the term is defined in
Section 101(14) of the Bankruptcy Code.

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 also has
manufacturing facilities 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.  The Debtors' exclusive period to
file a plan of reorganization expires on May 17, 2008.  (Propex
Bankruptcy News, Issue No. 7; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


RAHMING INDUSTRIEBUCHBINDEREI: Claims Registration Ends April 1
---------------------------------------------------------------
Creditors of Rahming Industriebuchbinderei GmbH have until
April 1, 2008, to register their claims with court-appointed
insolvency manager Stefan Hinrichs.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on April 21, 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 Hamburg
          Hall B 405
          Fourth Floor Annex
          Civil Justice Bldg.
          Sievkingplatz 1
          20355 Hamburg
          Germany

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

The insolvency manager can be reached at:

          Stefan Hinrichs
          Kaiser-Wilhelm-Strasse 93
          20355 Hamburg
          Germany

The District Court of Hamburg opened bankruptcy proceedings
against Rahming Industriebuchbinderei GmbH on Feb. 15, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Rahming Industriebuchbinderei GmbH
          Billstrasse 228
          20539 Hamburg
          Germany


SANITATSHAUS GROSS: Claims Registration Period Ends April 1
-----------------------------------------------------------
Creditors of Sanitatshaus Gross Fuerstenwalde/Spree GmbH have
until April 1, 2008, to register their claims with court-
appointed insolvency manager Vera Mai.

Creditors and other interested parties are encouraged to attend
the meeting at 11:30 a.m. on May 6, 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 Frankfurt (Oder)
          Hall 401
          Muellroser Chaussee 55
          15236 Frankfurt (Oder)
          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:

          Vera Mai
          Kurfuerstendamm 66
          10707 Berlin
          Germany

The District Court of Frankfurt (Oder) opened bankruptcy
proceedings against Sanitatshaus Gross Fuerstenwalde/Spree GmbH
on Jan. 31, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

          Sanitatshaus Gross Fuerstenwalde/Spree GmbH
          Muehlenstrasse 9
          15517 Fuerstenwalde
          Germany


SORGE SCHALTTECHNIK: Creditors' Meeting Slated for March 19
-----------------------------------------------------------
The court-appointed insolvency manager for Sorge Schalttechnik
GmbH, Hartwig Albers will present his first report on the
Company's insolvency proceedings at a creditors' meeting at 9:15
a.m. on March 19, 2008.

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

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

The Court will also verify the claims set out in the insolvency
manager's report at 9:35 a.m. on May 21, 2008 at the same venue.

Creditors have until April 2, 2008 to register their claims with
the court-appointed insolvency manager.

The insolvency manager can be reached at:

         Hartwig Albers
         Luetzowstr. 100
         10785 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against Sorge Schalttechnik GmbH on Jan. 31, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Sorge Schalttechnik GmbH
         Ollenhauerstr. 98
         13403 Berlin
         Germany


STEFAN WIETHOLD: Claims Registration Period Ends April 1
--------------------------------------------------------
Creditors of Stefan Wiethold Optik GmbH have until April 1,
2008, to register their claims with court-appointed insolvency
manager Sebastian Henneke.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on April 22, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

          The District Court 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: 0 28 71/2 35 48 77
          Fax: +4928712354879

The District Court of Muenster opened bankruptcy proceedings
against Stefan Wiethold Optik GmbH on Feb. 19, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Stefan Wiethold Optik GmbH
          Attn: Stefan Wiethold, Manager
          Markt 4
          46399 Bocholt
          Germany


SYSTEMBAU LUDWIG: Claims Registration Period Ends April 1
---------------------------------------------------------
Creditors of SYSTEMBAU LUDWIG GmbH have until April 1, 2008, to
register their claims with court-appointed insolvency manager
Lucas F. Floether.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 29, 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 145
         First Floor
         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:

          Dr. Lucas F. Floether
          Specks Hof Eingang C
          Nikolaistrasse 3-5
          04109 Leipzig
          Germany
          Tel: 0341/652200
          Fax: O341/65220111

The District Court of Leipzig opened bankruptcy proceedings
against SYSTEMBAU LUDWIG GmbH on Feb. 12, 2008.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

          SYSTEMBAU LUDWIG GmbH
          Attn: Reinhard Ludwig, Manager
          Leisniger Strasse
          04720 Doebeln
          Germany


UMATZ AUTOSERVICE: Claims Registration Ends April 1
---------------------------------------------------
Creditors of Umatz Autoservice Hof GmbH & Co. KG have until
April 1, 2008 to register their claims with court-appointed
insolvency manager Dr. Ulrich Graf.

Creditors and other interested parties are encouraged to attend
the meeting at 1:00 p.m. on April 29, 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 Hof
         Meeting Hall 012
         Ground Floor
         Berliner Platz 1
         95030 Hof
         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. Ulrich Graf
         Rathenaustrasse 7
         95444 Bayreuth
         Germany
         Tel: 0921/759330
         Fax: 0921/7593350

The District Court of Hof opened bankruptcy proceedings against
Umatz Autoservice Hof GmbH & Co. KG on Jan. 29, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Umatz Autoservice Hof GmbH & Co. KG
         Wunsiedler Str. 16
         95032 Hof
         Germany


VESTA-ASSEKURANZ KONTOR: Claims Registration Ends April 1
---------------------------------------------------------
Creditors of VESTA-Assekuranz Kontor GmbH have until April 1,
2008 to register their claims with court-appointed insolvency
manager Bernd Depping.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on April 16, 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 185
         First 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:

         Bernd Depping
         Alfredstr. 108-112
         45131 Essen
         Germany

The District Court of Essen opened bankruptcy proceedings
against VESTA-Assekuranz Kontor GmbH on Feb. 21, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         VESTA-Assekuranz Kontor GmbH
         Cranger Str. 149
         45881 Gelsenkirchen
         Germany

         Attn: Ruediger Kreft, Manager
         Lavesumer Str. 49
         45721 Haltern
         Germany


* German Corporate Insolvencies Down 14.6% in 2007
--------------------------------------------------
The Federal Statistical Office (Destatis) disclosed insolvency
statistics for 2007.

German insolvency courts reported 164,597 insolvencies, 29,160
of them referred to enterprises and 135,437 to other debtors.
While enterprise insolvencies decreased 14.6% compared with
2006, an increase was observed in the total number of
insolvencies (+2.0%) and in insolvencies of other debtors
(+6.4%).

The latter group includes in particular consumers (105,238;
+9.0%), individuals, for example as members of partnerships and
formerly self-employed persons (27,969; –1.4%) and deceased
persons' estate insolvencies (2,230; –4.4%).


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


PROPEX INC: Committee Wants FTI Consulting as Financial Advisor
---------------------------------------------------------------
The Official Committee of Unsecured Creditors of Propex Inc. and
its debtor-affiliates seeks authority from the U.S. Bankruptcy
Court for the Eastern District of Tennessee to retain FTI
Consulting, Inc., as its financial advisors, effective as of
Jan. 31, 2008.

Stephen Cooke, chairperson of the Creditors Committee, relates
that they selected FTI because the firm has a lot of experience
in providing financial advisory services in restructurings and
reorganizations in large and complex Chapter 11 cases on behalf
of debtors and creditors throughout the United States.

Mr. Cooke points out FTI's services are necessary to enable the
Creditors Committee to assess and monitor the efforts of the
Debtors and their professional advisors to maximize the value of
their estates and to reorganize successfully.

As the Creditors Committee's financial advisors, FTI will:

   * assist the Creditors Committee in the review of financial
     related disclosures required by the Court, including the
     Schedules of Assets and Liabilities, the Statement of
     Financial Affairs and Monthly Operating Reports;

   * assist the Creditors Committee with information and
     analyses required pursuant to the Debtors' DIP financing;

   * assist and advice the Creditors Committee with respect to
     the Debtors' identification of core business assets and the
     disposition of assets or liquidation of unprofitable
     operations;

   * review the Debtors' performance of cost or benefit
     evaluations with respect to the affirmation or rejection of
     various executory contracts and leases;

   * evaluate the present level of operations and identification
     of areas of potential cost savings, including overhead and
     operating expense reductions and efficiency improvements;

   * review the financial information distributed by the Debtors
     to creditors and others;

   * attend meetings and assist in discussions with the Debtors,
     potential investors, banks, other secured lenders, the
     Creditors Committee and any other official committees
     organized in the Chapter 11 proceedings, the United States
     Trustee, other parties in interest;

   * review and prepare information and analysis necessary for
     the confirmation of a plan in these chapter 11 proceedings;

   * assist in the valuation of the business and review of
     capital structure alternatives;

   * assist in the evaluation and analysis of avoidance actions,
     including fraudulent conveyances and preferential
     transfers; and

   * render all other general business consulting or assistance
     as the Creditors Committee or its counsel may deem
     necessary that are consistent with the role of a financial
     advisor and not duplicative of services provided by other
     professionals in this proceeding.

For its services, FTI will be paid:

   (1) a fixed monthly rate of US$150,000 for the first three
       months of the bankruptcy cases;

   (2) US$125,000 per month thereafter; plus

   (3) a completion fee payable of US$1,000,000, at the option
       of the Creditors Committee, upon the occurrence of the
       effective date of a Chapter 11 Plan of Reorganization.

In addition, FTI will be reimbursed for actual and necessary
expenses it has incurred or will incur, including any legal fees
related to the firm's retention and defense of fee applications
in the Debtors' cases.

Steven Simms, Esq., a partner at FTI, assures the Court that his
firm is a "disinterested person," as the term is defined in
Section 101(14) of the Bankruptcy Code.

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 also has
manufacturing facilities 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.  The Debtors' exclusive period to
file a plan of reorganization expires on May 17, 2008.  (Propex
Bankruptcy News, Issue No. 7; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


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


ARAMARK CORPORATION: Fitch Holds IDR at 'B' with Stable Outlook
---------------------------------------------------------------
Fitch Ratings has affirmed ARAMARK Corporation's ratings as:

    -- Long-term Issuer Default Rating 'B';

    -- US$600 million revolving senior secured credit facility
       due 2013 'BB-/RR2';

    -- US$4.15 billion senior secured term loans due 2014
       'BB-/RR2';

    -- US$200 million senior secured synthetic letter of credit
       facility due 2014 'BB-/RR2';

    -- US$1.78 billion senior unsecured notes due 2015 'B-/RR5';

    -- US$250 million senior unsecured notes due 2012
       'CCC+/RR6'.

The Rating Outlook is Stable.

Fitch has simultaneously withdrawn the IDR rating for ARAMARK
Services, Inc., which is no longer a debt issuing entity.

These rating actions affect approximately US$6.0 billion of debt
at Dec. 28, 2007.

ARAMARK's ratings and Outlook incorporate its high financial
leverage, below average operating risk and Fitch's expectations
that credit statistics will remain at levels consistent with the
company's current ratings in the near term.  ARAMARK
significantly increased debt levels following its US$8.6 billion
management-led leverage buy-out in 2007.  However, ARAMARK's
strong global market share in food service, entrenched position
in the North American uniform rental business and high customer
retention rates provide considerable and relatively stable on-
going cash flow generation.

For the latest twelve month period ended Dec. 28, 2007,
ARAMARK's total debt-to-operating earnings before interest,
taxes, depreciation and amortization (EBITDA) ratio was 5.8
times (x) and its operating EBITDA-to-gross interest expense
ratio was 2.1x.  Total adjusted debt-to-operating earnings
before interest, taxes, depreciation, amortization and rental
expense (EBITDAR), which accounts for operating leases and
balances outstanding under ARAMARK's US$250 million accounts
receivable securitization program, was 6.3x.

During this same period, ARAMARK generated approximately US$500
million of cash flow from operations and US$180 million of free
cash flow. ARAMARK's funds from operations (FFO) fixed charge
coverage ratio was 1.8x.  Although ARAMARK's debt obligations
increased considerably over the previous 12 month period, Fitch
views its credit protection measures as adequate for the current
ratings level.  Good liquidity, a proven ability to manage
through various economic cycles and a diversified customer base
should help mitigate any negative ramifications from above
average food cost inflation and a slowing U.S. economy.

ARAMARK is in compliance with all of its debt covenants.  The
most significant financial covenant in ARAMARK's bank facility
is a maximum consolidated secured debt ratio of 5.875x through
March 31, 2008, stepping down to 4.25x by Dec. 31, 2013.  At
Dec. 28, 2007, the actual ratio was 3.86x, leaving the company
significant cushion under this agreement.  ARAMARK's ability to
incur additional debt and make restricted payments is limited by
a minimum interest coverage ratio of 2.0x. At Dec. 28, 2007, the
actual ratio was 2.1x.

The recovery ratings for ARAMARK's debt consider bondholder
recovery in a distressed situation.  Given assumptions regarding
the company's enterprise value as a going concern, Fitch
anticipates 71%-90% or superior recovery for ARAMARK's first
priority secured bank debt and 11%-30% or below average recovery
for its 8.5% and floating rate unsecured notes due 2015.
Conversely, the recovery rating for ARAMARK's 5% unsecured notes
due 2012 has been notched lower at 'RR6' to reflect their
subordinate position in the company's capital structure and
Fitch's expectation that recovery for these bondholders would be
negligible in a financial restructuring.  Unlike the 2015 notes,
which are fully and unconditionally guaranteed by substantially
all of the companies domestic material subsidiaries, the 2012
notes are only guaranteed by ARAMARK and its holding company.

Headquartered in Philadelphia, Pennsylvania, Aramark Corp.
(NYSE: RMK) -- http://www.aramark.com/-- is a professional
services organization, providing food services, facilities
management, hospitality services, and uniforms and career
apparel to health care institutions, universities and school
districts, stadiums and arenas, businesses, prisons, senior
living facilities, parks and resorts, correctional institutions,
conference centers, convention centers, and public safety
professionals around the world.  Aramark also has operations in
Belgium, Canada, China, Czech Republic, Chile, Germany, Ireland,
Japan, Korea, Mexico, Spain, and the United Kingdom.


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


INTERNATIONAL RECTIFIER: Hires Donald Dance as EVP & CAO
--------------------------------------------------------
International Rectifier Corporation has appointed Donald Dancer
as Executive Vice President and Chief Administrative Officer.
In this role, Mr. Dancer will oversee International Rectifier’s
legal, human resources, compliance, mergers and acquisitions and
investor relations functions and will report directly to
the company’s Chief Executive Officer, Oleg Khaykin.

Mr. Dancer most recently served as acting Chief Executive
Officer since late August, 2007.  He joined International
Rectifier in 2002 and was previously Executive Vice President,
Secretary and General Counsel.  Prior to 2002, Mr. Dancer had 22
years of corporate practice including managing legal affairs for
a number of divisions and affiliates of the General Electric
Company.

“We are all very pleased that Don will remain with IR in the
newly created position of Chief Administrative Officer to
improve the organizational effectiveness of our corporate
operations,” said Oleg Khaykin, International Rectifier’s Chief
Executive Officer.  “Don’s breadth of experience and credibility
as an acting CEO, General Counsel, business advisor and skilled
manager make him well suited for his new role.  I look forward
to working with Don as we continue to strengthen our internal
control environment and improve the areas of corporate
governance and compliance.”

International Rectifier Corporation (NYSE:IRF) --
http://www.irf.com/-- provides power management technology.
IR's analog, digital, and mixed signal ICs, and other advanced
power management products, enable high performance computing and
save energy in a wide variety of business and consumer
applications.  Manufacturers of computers, energy efficient
appliances, lighting, automobiles, satellites, aircraft, and
defense systems rely on IR's power management solutions to power
their next generation products.  The company has manufacturing
facilities in the U.S., Mexico, United Kingdom, Germany and
Italy; and has subsidiaries in Japan and Singapore.

                          *     *     *

In September, 2007, Standard & Poor's Ratings Services said that
its 'BB' corporate credit rating on International Rectifier
Corp. remains on CreditWatch with negative implications.


PARMALAT SPA: Earns EUR674.4 Million for 2007
---------------------------------------------
The Parmalat Group released its consolidated financial results
for the full year ended Dec. 31, 2007.

The Parmalat Group posted EUR674.4 million in net profit on
EUR3.89 billion in net revenues in 2007, compared with
EUR195.4 million in net profit on EUR3.70 billion in net
revenues in 2006.

The improvement in net revenues is chiefly the result of higher
unit sales in Canada and Italy.  Sales were up also in South
Africa, aided in part by the growth of the local economy.  In
Italy, the launch of new functional products helped boost
shipments of fruit juices by 16.3% compared with 2006, while in
Canada the overall increase in unit sales was driven mainly by
an 8.5% gain in shipments of cheese products.

An improved sales mix, with a greater preponderance of higher
value added products and a reduction in operating costs are the
main reasons for improvement in EBITDA (EUR366.6 million, up
5.4%), which was achieved despite a worldwide increase in the
price of raw milk recouped also through list price increases.

In addition to the positive performance of the industrial
operations and the contribution provided by lawsuit settlements,
the improvement in net result is also the result of lower net
financial expenses made possible by a decrease in the average
cost of borrowings, a reduction in indebtedness and an increase
in the liquidity invested by the Group’s Parent Company.

The Group’s net financial position improved sharply in 2007,
moving from net borrowings of EUR170 million to net financial
assets of EUR855.8 million, for an overall positive change of
EUR1.0258 million compared with Dec. 31, 2006.

The main reasons for this positive change include:

    * cash flow from operations, which, net of changes in
      operating working capital, amounted to EUR152.3 million;

    * cash flow from lawsuits of EUR699.5 million, which is the
      net result of proceeds from settlements reached in 2007
      totaling EUR754.5 million, less EUR55 million in legal
      costs attributable both to 2006 and 2007;

    * cash flow from extraordinary transactions totaling
      EUR230 million, which is the net result of proceeds from
      the disposal of non-strategic assets (EUR249.2 million),
      less outlays to purchase holdings in associates
      (EUR16.3 million) and the payment of claims in composition
      with creditors proceedings (EUR11.6 million); and

    * cash flow from financial transactions, which includes
      EUR3.5 million in net financial income, dividend payments
      totaling EUR43.7 million and proceeds of EUR7.5 million
      generated by the exercise of warrants, with sundry items
      accounting for the difference.

                          Parmalat S.p.A.

Parmalat S.p.A. posted EUR554.7 million in net profit on
EUR894.7 million in net revenues in 2007, compared with
EUR125.6 million in net profit on EUR872.7 million in net
revenues in 2006.

Net financial assets were up sharply in 2007, rising from
EUR341.4 million to EUR1.2313 billion, a net change of
EUR889.9 million.  The improvement reflects both the
contribution of cash flow from operations and the effect of
proceeds from extraordinary transactions described in the
comments to the Groups’ results.

             Business Outlook and 2008 Forecast Data

In the early months of 2008, the more mature markets in which
the Group operates have been experiencing significant
competitive pressure, which is having an impact both on sales
volumes and prices.

Group Companies are responding well thanks to the launch of new
products helped by marketing initiatives and also by a
rationalization process both in industrial and operational
costs.

At the same time, starting in the current year, the process of
simplifying the Group’s structure will enable the Group’s Parent
Company to receive an additional flow of profits generated by
the industrial subsidiaries of more than EUR40 million.

These developments, along with the proceeds generated by
settlements of pending actions, should enable the Company to
reserve adequate resources for its shareholders, while pursuing
a growth strategy focused on strengthening its presence in the
more mature markets and expanding in the emerging markets.

The Board of Directors, moreover, has reviewed the 2008 forecast
data which show a projected growth rate of between 3% and 5%
(net sales revenues).  EBITDA is expected to grow at a
rate of between 7% to 10%.

                          About Parmalat

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

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

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

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

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

The Honorable Robert D. Drain presides over the Parmalat
Debtors' U.S. cases.  On June 21, 2007, the U.S. Court Granted
Parmalat Permanent Injunction.


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


AGROSOUZ XXI: Creditors Must File Claims by April 11
----------------------------------------------------
LLP Agrosouz XXI has declared insolvency.  Creditors have until
April 11, 2008, to submit written proofs of claims to:

         LLP Agrosouz XXI
         Abai ave. 173-12
         Kostanai
         Kazakhstan


ASTANA KAZELECTRO: Claims Deadline Slated for April 11
------------------------------------------------------
LLP Astana Kazelectro Montage has declared insolvency.
Creditors have until April 11, 2008, to submit written proofs of
claims to:

         LLP Astana Kazelectro Montage
         Tsiolkovskogo Str. 53
         Almaty District
         Astana
         Kazakhstan


ATS INVEST: Claims Filing Period Ends April 11
----------------------------------------------
LLP Ats Invest has declared insolvency.  Creditors have until
April 11, 2008, to submit written proofs of claims to:

         LLP Ats Invest
         Abai ave. 68/70
         Almaty
         Kazakhstan


BASTANDYK LLP: Creditors' Claims Due on April 11
------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda has
declared LLP Bastandyk insolvent.

Creditors have until April 11, 2008, to submit written proofs of
claims to:


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


JAZIRA LLP: Claims Registration Ends April 11
---------------------------------------------
LLP Construction Company Jazira has declared insolvency.
Creditors have until April 11, 2008, to submit written proofs of
claims to:

         LLP Construction Company Jazira
         Vosmogo Marta Str. 102-28
         Semey
         East Kazakhstan
         Kazakhstan


MITSAR LLP: Creditors Must File Claims by March 28
--------------------------------------------------
The Tax Committee of Almaty has ordered the compulsory
liquidation of LLP Mitsar (RNN 090500021646).

Creditors have until March 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


SEMEY TAGAMDARY: Claims Deadline Slated for April 11
----------------------------------------------------
LLP Semey Tagamdary has declared insolvency.  Creditors have
until April 11, 2008, to submit written proofs of claims to:

         LLP Semey Tagamdary
         Chimkentskaya Str. 66
         Semey
         East Kazakhstan
         Kazakhstan
         Tel: 8 (3222) 53-83-76


SHAHLAN LLP: Claims Filing Period Ends March 28
-----------------------------------------------
The Tax Committee of Almaty has ordered the compulsory
liquidation of LLP Shahlan (RNN 090500029443).

Creditors have until March 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


STALKOM-XXI LLP: Creditors' Claims Due on April 11
--------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda has
declared LLP Stalkom-XXI insolvent.

Creditors have until April 11, 2008, to submit written proofs of
claims to:


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


STROYSERVICE AGS: Claims Registration Ends April 11
---------------------------------------------------
LLP Construction Company Stroyservice Ags has declared
insolvency.  Creditors have until April 11, 2008, to submit
written proofs of claims to:

         LLP Construction Company Stroyservice Ags
         Karamende bi Str. 3
         Balhash
         Karaganda
         Kazakhstan
         Tel: 8 (31036) 4-56-45


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


GRAND EXCLUSIVE: Creditors Must File Claims by April 15
-------------------------------------------------------
LLC Grand Exclusive Service has declared insolvency.  Creditors
have until April 15, 2008 to submit written proofs of claim.

Inquiries can be addressed to (+996 312) 65-09-25.


HOMELINE TELECOM: Claims Filing Period Ends April 15
----------------------------------------------------
LLC Homeline Telecom has declared insolvency.  Creditors have
until April 15, 2008 to submit written proofs of claim to:

         LLC Homeline Telecom
         Ibraimov Str. 28-49
         Bishkek
         Kyrgyzstan


SOUTH OIL: Claims Registration Ends April 15
--------------------------------------------
LLC South Oil Company has declared insolvency.  Creditors have
until April 15, 2008 to submit written proofs of claim to:

         LLC South Oil Company
         Orlovskaya Str. 8
         Bishkek
         Kyrgyzstan
         Tel: (+996 312) 64-57-55


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


AMERICAN AXLE: GM Plants in U.S. Lays Off Workers Due to Strike
---------------------------------------------------------------
General Motors Corp. disclosed that 18 North American
manufacturing facilities will be partially or fully affected by
an ongoing labor dispute between GM's key supplier American Axle
and Manufacturing Inc. and the United Auto Workers union.
Around 16,336 hourly workers and 2,476 salaried employees will
be displaced, according to a GM production statement.

Plants that are partially affected are those still producing
parts for GM facilities not affected by the strike.  These
plants are:

   * South Engine plant in Flint, Michigan;
   * Engine/Components plant in St. Catharines, Ontario;
   * Transmission plant in Baltimore, Maryland;
   * Components plant in Bay City, Michigan;
   * Casting plant in Bedford, Ohio;
   * Casting plant in Defiance, Ohio;
   * Components plant in Fredericksburg, Virginia;
   * Components plant in Parma, Ohio;
   * Transmission plant in Willow Run, Michigan;
   * Transmission plant in Ypsilanti, Michigan;
   * Engine plant in Tonawanda, New York;
   * Stamping plant in Flint, Michigan;
   * Stamping plant in Grand Rapids, Michigan;
   * Stamping plant in Indianapolis, Indiana;
   * Stamping plant in Mansfield, Ohio;
   * Stamping plant in Marion, Indiana; and
   * Stamping plant in Parma, Ohio.

An engine plant in Romulus, Michigan will be fully affected by
the strike and will cease producing V6 and V8 engines on March
10, 2008.

                Two Plants Idled Over Axle Dispute

As reported in the Troubled Company Reporter on March 5, 2008,
two additional production facilities in Moraine, Ohio, and
Mishawaka, Indiana, have been affected by the rally of Axle
union members.  A Toledo Transmission plant is anticipated to be
shut down on March 10, 2008, and is expected to lay off 1,444
hourly and 219 salaried workers.

UAW president Ron Gettelfinger and Vice President James Settles
disclosed that members at American Axle began an unfair labor
practices strike at on Feb. 26, 2008, following expiration of a
four-year master labor agreement.

                      About General Motors

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 266,000 people around the world and manufactures cars and
trucks in 35 countries.  In 2007, nearly 9.37 million GM cars
and trucks were sold globally under the following brands: Buick,
Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn, Vauxhall and Wuling.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security
and information services.

                       About American Axle

Headquartered in Detroit, Michigan, American Axle &
Manufacturing Holdings Inc. (NYSE:AXL) -- http://www.aam.com/--
and its wholly owned subsidiary, American Axle & Manufacturing,
Inc., manufactures, engineers, designs and validates driveline
and drivetrain systems and related components and modules,
chassis systems and metal-formed products for light trucks,
sport utility vehicles and passenger cars.  In addition to
locations in the United States (in Michigan, New York and Ohio),
the company also has offices or facilities in Brazil, China,
Germany, India, Japan, Luxembourg, Mexico, Poland, South Korea
and the United Kingdom.

                          *     *     *

As reported in the Troubled Company Reporter-Europe on Feb. 26,
2008,  Moody's Investors Service assigned a Ba3 rating (LGD-4,
56%) to American Axle & Manufacturing Inc.'s new issue of
US$300-million of unsecured notes.  At the same time, the rating
agency raised the company's Speculative Grade Liquidity rating
to SGL-1 and affirmed the company's existing Corporate Family
Rating of Ba3 and negative outlook.


CA INC: Appoints Michael Christenson as President
-------------------------------------------------
CA Inc. has named Michael J. Christenson, 49, as its president.
He continued as the company's chief operating officer and
continues to report to CA Chief Executive Officer John Swainson.

"Since being named as chief operating officer nearly two years
ago, Mike has overhauled CA's sales operations and established a
more dynamic and efficient organization, focusing on
establishing strong partnerships with our current and new
customers to drive revenue growth," said Mr. Swainson.  "In
addition, Mike has led CA's efforts to significantly improve its
technical support, services, strategic alliances and training
capabilities."

As president and chief operating officer, Mr. Christenson
oversees CA's direct and indirect sales, CA Services, technical
support, business development and strategic alliances.

Mr. Christenson joined CA in February 2005 as executive vice
president for Strategy and Business Development.  In that role,
he led CA's acquisition program and its integration team in the
successful acquisition and integration of 15 companies with a
total investment of US$1.8 billion.  These acquisitions, which
included such companies as Concord Communications, Niku, and
Wily Technology, significantly strengthened CA's solution
portfolio and made CA a stronger technology partner for its
customers.  He was named CA's COO in April 2006.

Following a 23-year career as an investment banker, Mr.
Christenson retired from Citigroup Global Markets, Inc. in 2004.
Mr. Christenson earned a Bachelor of Arts degree in chemistry
from Rutgers University and a Master of Business Administration
degree in finance from The New York University Graduate School
of Business.

Headquartered in Islandia, New York, CA Inc. (NYSE:CA) --
http://www.ca.com/-- is an information technology management
software company that unifies and simplifies the management
ofenterprise-wide IT.  Founded in 1976, CA serves customers in
more than 140 countries.  The company has operations in Brazil,
Indonesia, Luxembourg, Philippines and Thailand.

                        *     *     *

In December 2007, Fitch Ratings affirmed these ratings of CA,
Inc.: Issuer Default Rating at 'BB+'; Senior unsecured revolving
credit facility at 'BB+'; and Senior unsecured debt at 'BB+'.

Additionally, Fitch revised the Rating Outlook on CA Inc. to
Stable from Negative.  Fitch's actions affect approximately
US$2.8 billion of total debt, including the company's US$1.0
billion revolving credit facility.


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


CAPRI CONDOMINIUMS: Wants to Hire Kingery & Crouse as Accountant
----------------------------------------------------------------
The Capri Condominiums Limited Partnership asks authority from
the U.S. Bankruptcy Court for the Middle District of Florida to
employ Charles Crouse at Kingery & Crouse, P.A. as its
accountant under general retainer.

Kingery & Crouse will:

     a) give advice to the Debtor regarding budgetary and other
        financial issues and challenges involving the
        Development;



     b) assist the Debtor with respect to its responsibilities
        in complying with the U.S. Trustee's Operating
        Guidelines and Reporting Requirements and with the rules
        of the Court, including the preparation and review of
        monthly operating reports and underlying financial data;
        and

     c) work with management of the Debtor, as well as counsel,
        in the preparation of a plan of reorganization and in
        assessing and establishing feasibility and advisability.

The firm will bill the Debtor at these rates:

      Designation             Hourly Rates
      -----------             ------------
      Managers               US$150 - US$220
      General Staff           US$85 - US$125

Charles Crouse and Mark Kingery will charge the Debtor at US$240
per hour.

Prior to bankruptcy filing, the firm has accrued a US$3,350
claim for services from the Debtor.  It is anticipated that this
account receivable will be waived by the firm as a condition
precedent to appointment.

To the best of the Debtor's knowledge, the firm holds no
interest adverse to the Debtor and its estates and is
"disinterested" as that term is defined in Section 101(14) of
the Bankruptcy Code.

Tampa, Florida-based The Capri Condominiums LP owns and manages
condominiums.  Capri is operated by Euro American Investors
Group in The Netherlands, which runs an office in Tampa,
Florida.  Euro American Investors -- http://www.eaig.nl/-- is
an international company that offers a complete package property
with the focus on the United States and Europe.  Since its
launch in 1979, Euro American Investors built a diversified
portfolio of properties, apartments, offices, commercial
buildings, and shopping malls.

Capri Condominiums sought protection under chapter 11 on Feb. 6,
2008 (Bankr. M.D. Fla. Case No. 08-01553).  Maureen A. Vitucci,
Esq., at Gray Robinson PA represents the Debtor in its
restructuring efforts.  When the Debtor filed for bankruptcy, it
listed assets and debts between US$10 million and US$50 million.


HEXION SPECIALTY: Discloses Post-Merger Senior Officers
-------------------------------------------------------
Hexion Specialty Chemicals Inc. disclosed the post-merger senior
leaders for the company, contingent on the close of its
acquisition of Huntsman Corporation.  The transaction is
expected to close during the second quarter of 2008, pending
receipt of regulatory approvals and the satisfaction of other
closing conditions.

Once the merger transaction is completed:

   -- Peter R. Huntsman, President and CEO of Huntsman
      Corporation, will become Chairman of the Board for the
      combined company;

   -- Craig O. Morrison, Chairman, CEO and President of Hexion
      Specialty Chemicals, will become President and Chief
      Executive Officer;

   -- Donald J. Stanutz, Division President, Performance
      Products, of Huntsman Corporation, will become Chief
      Operating Officer;

   -- William H. Carter, Executive Vice President and CFO for
      Hexion, will assume that role in the new company.

"We are pleased to have a talented and highly experienced team
of chemical industry executives in place to build an industry-
leading enterprise, once the transaction is completed," said
Joshua J. Harris, founding partner with Apollo Management L.P.
"This combination will form one of the world’s largest specialty
chemical companies.  It will have annual sales of more than
US$14 billion, and more than 21,000 associates and 180
facilities around the world serving a diverse range of customers
and industries with leading technologies and products."

Mr. Huntsman has served in his current role with Huntsman
Corporation since July 2000 and previously served as President
and Chief Operating Officer since 1994.  In 1987, he joined
Huntsman Polypropylene Corporation as Vice President before
serving as Senior Vice President and General Manager.  He has
also served as President of Olympus Oil, as Senior Vice
President of Huntsman Chemical Corporation and as a Senior Vice
President of Huntsman Packaging Corporation, a former subsidiary
of the company.

Mr. Morrison joined Borden Chemical, Inc., a predecessor company
of Hexion Specialty Chemicals, in March 2002 as President and
CEO.  He was named Chairman in 2005.  Prior to joining Hexion,
he served as President and General Manager of Alcan
Pharmaceutical and Cosmetic Packaging, a division of Alcan,
Inc., and as President and General Manager of Van Leer
Containers, Inc.  He also served as a management consultant with
Bain & Company, and worked in a variety of management roles
within GE Plastics.

Mr. Stanutz has served in his current role as Division
President, Performance Products since 2004.  He also has served
the Huntsman organization as Executive Vice President and Chief
Operating Officer of Huntsman LLC, as Executive Vice President,
Global Sales and Marketing, and as Executive Vice President,
Polyurethanes, PO and Performance Chemicals.  Prior to joining
Huntsman in 1994, Mr. Stanutz served in a variety of senior
positions with Texaco Chemical Company.

Mr. Carter has served as Executive Vice President and Chief
Financial Officer of Hexion Specialty Chemicals, Inc., and its
predecessors, Borden Chemical, Inc., and Borden, Inc., since
1995.  Prior to joining Hexion, he served as the Price
Waterhouse engagement partner for Borden.  He previously served
Price Waterhouse in various client assignments in manufacturing,
real estate and financial services.

                     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.

                        *     *     *

Hexion Specialty's 'B' corporate credit rating is on Standard &
Poor's Ratings Services' CreditWatch with negative implications.


NUMONYX BV: S&P Suspends B Long-Term Corporate Credit Rating
------------------------------------------------------------
Standard & Poor's Ratings Services has suspended its 'B' long-
term corporate credit rating on Dutch semiconductor manufacturer
Numonyx B.V.  The 'BB-' senior secured debt rating and '1'
recovery rating were also suspended.

The ratings assigned on Dec. 21, 2007, assumed that Numonyx, the
result of a merger between the NOR flash memory businesses of
Intel Corp. (A+/Stable/A-1+) and STMicroelectronics N.V. (A-
/Stable/A-2), would be created and its capital structure
implemented before year-end 2007.  As of March 10, Numonyx B.V.
has not been created, however.  Numonyx's parents have indicated
their intention to create the company before the end of first-
quarter 2008.

S&P expects ratings to be reinstated upon closing of the merger,
following a reassessment of our initial business and financial
assumptions.


SABIC INNOVATIVE: S&P Affirms Ratings on Parent Support
-------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' long-term
corporate credit rating on The Netherlands-based specialty
plastics producer SABIC Innovative Plastics Holding B.V. and
removed it from CreditWatch with negative implications, where it
was placed on Jan. 4, 2008.  The outlook is positive.

"This follows the decision by the board of directors of the
parent company Saudi Basic Industries Corp (SABIC; A+/Stable/A-
1) to provide it with significant financial support to comply
with its financial covenants at quarterly test dates, starting
on June 30, 2008," said Standard & Poor's
credit analyst Tobias Mock.

The level of support in the form of capital injections is above
S&P's original expectations, and we have therefore increased the
number of notches for parental support to four from three.  At
the same time, our assessment of SABIC IP's stand-alone credit
quality has weakened to 'B-' from 'B', owing to the adverse
market conditions for polycarbonates.

SABIC IP is an important strategic asset for SABIC because it
provides access to specialty plastics, significantly increasing
SABIC's overall value chain.  It also improves its geographic
diversification, access to an international client base, and
mitigates SABIC's strong exposure to the petrochemical cycle.
S&P expects SABIC to benefit in the coming years from SABIC
IP's technological expertise and client relationships.  S&P
therefore expects parental support to remain strong,
substantially reducing the probability of default.

S&P expects SABIC IP's' operating margins to remain
significantly below past averages.  The company will not
generate positive free cash flow (after interest payments and
capital expenditures) for at least the next two years.  Without
parental support, it would not meet its financial covenants in
its senior credit agreement, nor would it have enough liquidity
in the medium term.

"The outlook on SABIC IP is positive because the parent company
is considering strategies to increase its support," said Mr.
Mock.  "This could lead us to further increase the level of
parental support currently factored into the ratings.  We also
expect the company to remain 100% owned by SABIC and to stay of
key strategic importance to the group."


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


HYNIX SEMICON: To Invest US$260MM in China Venture This Year
------------------------------------------------------------
Hynix Semiconductor Inc. will invest an additional US$260
million in its joint venture in China this year to expand
capacity, Reuters reports.

According to the report, the venture, set up with
STMicroelectronics in Wuxi, China, is the only overseas chip
plant for Hynix.  It will be built with an initial investment of
US$2 billion, the report notes.

After the new spending, Hynix's ownership in the joint venture
will rise to 77.44%, Hynix said in its filing to the Korea
Exchange.

Yonhap News relates that the investment is aimed at increasing
production capacity at the joint plant.

                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.

                       *     *     *

Hynix Semiconductor carries Moody's Investors Service's senior
unsecured bond rating and corporate family rating of Ba2.  That
rating is an upgrade from the previous Ba3 rating.  Moody's said
the outlook is stable.


HYNIX SEMICON: In Talks with Promo on Technology Transfer
---------------------------------------------------------
Hynix Semiconductor Inc. has been negotiating with ProMOS
Technologies, a Taiwanese chipmaker, on the transfer of
technology to produce 54-nano DRAMs, various reports say.

According to English.Chosun News, Hynix had attempted to
transfer the lower-level 66-nano technology to ProMOS, but
relented amid an outcry over the technology drain.

Hynix, the report relates, is seeking to diversify its
production base, including making products on commission at
ProMOS, to cut costs and evade countervailing duties it has to
pay if it directly exports goods to the U.S. or Europe.

A Hynix executive was quoted by the news agency as saying, "When
the transfer of 66-nano technology was delayed, ProMOS wanted
54-nano technology.  So we've been holding talks over its
transfer.  The transfer is not technology drain but an export,"
he added.

Asia Pulse relates that a Hynix official confirmed the report,
however, stopped short of providing financial terms and other
specifics of the on-going talks.

Experts, English.Chosun News says, are worried that the transfer
could decisively reduce the competitiveness of Korea's
semiconductor technologies.

The Industrial Technology Drain Prevention Act stipulates that
80-nano or lesser semiconductor technologies are key
technologies that the country must protect, English.Chosun News
explains.

English.Chosun News notes that Hynix is expected to face a tough
time in consultations with the Ministry of Knowledge-based
Economy.

                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.

                       *     *     *

Hynix Semiconductor carries Moody's Investors Service's senior
unsecured bond rating and corporate family rating of Ba2.  That
rating is an upgrade from the previous Ba3 rating.  Moody's said
the outlook is stable.


=========
S P A I N
=========


AYT COLATERALES: Fitch Rates EUR15.3 Mln Class D Notes at BB-
-------------------------------------------------------------
Fitch Ratings assigned AyT Colaterales Global Hipotecario, FTA
Serie AyT Colaterales Global Hipotecario Caixa Galicia I's
EUR900m mortgage-backed floating-rate notes due in July 2047
final ratings, as:

   -- EUR826.2m Class A: 'AAA'; Outlook Stable
   -- EUR36.9m Class B: 'A'; Outlook Stable
   -- EUR21.6m Class C: 'BBB-' (BBB minus); Outlook Stable
   -- EUR15.3m Class D: 'BB- ' (BB minus); Outlook Stable

This transaction is a cash flow securitisation of a EUR900m
static pool of first-ranking Spanish mortgage loans originated
and serviced by Caja de Ahorros de Galicia (Caixa Galicia, rated
'A'/'F1'/Outlook Stable).

The final ratings are based on the quality of the collateral,
the underwriting and servicing of the mortgage loans, available
credit enhancement (CE), the integrity of the transaction's
legal and financial structure and Ahorro y Titulizacion S.A.,
S.G.F.T.'s administrative capabilities.

Initial CE for the Class A to D notes is provided by
subordination and a reserve fund, which has been fully funded at
closing using a subordinated loan.

The final ratings address the payment of interest on the notes
according to the terms and conditions of the documentation,
subject to a deferral trigger on the Class B, C and D notes, as
well as the repayment of principal by legal final maturity.
Should the deferral trigger on the Class B, C and D notes be
hit, interest on these notes will be deferred in the priority of
payments.  In this instance, interest payments might not be
received for a period of time, but will be received by legal
final maturity.

The fund is regulated by Spanish Securitisation Law 19/1992 and
Royal Decree 926/1998.  Its sole purpose is to transform into
fixed-income securities a portfolio of mortgages certificates
(certificados de transmission de hipoteca, CTHs) acquired from
Caixa Galicia.  The CTHs are subscribed by Ahorro y Titulizacion
S.A., S.G.F.T., whose sole function is to manage asset-backed
notes on behalf of the fund.


HIPOTOTTA NO.7: Moody's Junks Rating on EUR20 Mln Class F Notes
---------------------------------------------------------------
Moody's assigns definitive credit ratings to these classes of
Notes issued by Hipototta No. 7 Limited.

    -- Aaa to the EUR200,000,000 Class A1 Mortgage Backed
       Floating Rate Notes due 2061

    -- Aaa to the EUR1,596,000,000 Class A2 Mortgage Backed
       Floating Rate Notes due 2061

    -- Aa2 to the EUR60,000,000 Class B Mortgage Backed Floating
       Rate Notes due 2061

    -- A2 to the EUR50,000,000 Class C Mortgage Backed Floating
       Rate Notes due 2061

    -- Baa2 to the EUR44,000,000 Class D Mortgage Backed
       Floating Rate Notes due 2061

    -- B1 to the EUR50,000,000 Class E Mortgage Backed Floating
       Rate Notes due 2061

    -- Ca to the EUR20,000,000 Class F Mortgage Backed Variable
       Rate Notes due 2061

The transaction represents the securitisation of Portuguese
residential mortgage loans originated by Banco Santander Totta
S.A., rated Aa3/Prime-1.  The assets supporting the Notes are
prime mortgage loans secured on residential properties located
in Portugal.  The portfolio will be serviced by Banco Santander
Totta S.A.

The ratings of the Notes are based upon the analysis of the
characteristics of the mortgage pool backing the Notes, the
protection the Notes receive from credit enhancement against
defaults and arrears in the mortgage pool, the legal and
structural integrity of the issue and the credit quality of the
parties involved in the transaction.

The definitive ratings address the expected loss posed to
investors by the legal final maturity.  In Moody's opinion the
structure allows for timely payment of interest and ultimate
payment of principal with respect to the Class A1, Class A2,
Class B, Class C, Class D and Class E Notes on or before the
legal final maturity date.  Moody's ratings address only the
credit risk associated with the transaction.  Other non-credit
risks have not been addressed but may have significant effect on
the yield to investors.

Moody's will monitor this transaction on an ongoing basis.


NOZAR SA: Avaltransa Wants Court to Open Insolvency Proceedings
---------------------------------------------------------------
Avaltransa is asking a commercial court in Madrid, Spain to
initiate insolvency proceedings against Nozar SA, Bloomberg News
reports, citing Efe.  Avaltransa, the report adds, says that
Nozar’s debt is now double it assets.

Avaltansa is demanding repayment from Nozar of a EUR312,622
(US$480,062) debt, Bloomberg relates.


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


ASPEN INSURANCE: Promotes Mason to Marine & Energy Deputy Head
--------------------------------------------------------------
Aspen Insurance Holdings Limited has promoted Simon Mason to the
role of Deputy Head of Marine & Energy, International Insurance,
effective immediately.  Mr. Mason will take on greater
management responsibilities.  He will continue to report to Head
of Marine & Energy, International Insurance, John Henderson.

Mr. Mason joined Aspen in December 2004 and has twenty years of
experience in the energy insurance sector.  He currently serves
on the London market Joint Rig Committee, which is a
representative forum for the London marineenergy market, and
previously has worked in the Lloyd's market.

"We are delighted to recognize Simon's contributions.  His deep
expertise in the marine, energy and liability areas has helped
us to grow this business," said  Aspen International Insurance
head, Matthew Yeldham.  "Simon's promotion is indicative of our
focus on further expanding our specialized International
Insurance operations by strengthening our team to take advantage
of opportunities in the current market.  Aspen has developed a
strong track record in Marine & Energy since entering the
business in 2004 and we remain focused on complex opportunities
that leverage our technical underwriting skills.  Indeed in
2007, Aspen reported US$663 million of gross written premiums
from International Insurance."

The Marine & Energy Insurance team underwrites hull, energy
physical damage and associated liability classes.  Aspen's
energy and marine clients are drawn from around the world.

For the year ended Dec. 31, 2007, Aspen Insurance reported gross
written premiums of US$1.8 billion, net income of US$489 million
and total assets of US$7.2 billion.

              About Aspen Insurance Holdings Ltd.

Headquartered in Hamilton, Bermuda, Aspen Insurance Holdings
Limited (NYSE: AHL) -- http://www.aspen.bm/-- provides
reinsurance and insurance coverage to clients in various
domestic and global markets through wholly-owned subsidiaries
and offices in Bermuda, France, Ireland, the United States, the
United Kingdom, and Switzerland.

                          *     *     *

Aspen Insurance Holdings Limited still carried Moody's Investors
Services 'Ba1' Preferred Stock rating with a stable outlook
assigned on Dec. 21, 2005.


BLUE WONDER: Creditors' Liquidation Claims Due by March 12
----------------------------------------------------------
Creditors of LLC Blue Wonder have until March 12, 2008, to
submit their claims to:

         Stolz Daniel
         Liquidator
         Lurlibadstrasse 26
         Chur
         Plessur GR
         Switzerland

The Debtor can be reached at:

         LLC Blue Wonder
         Chur
         Plessur GR
         Switzerland


ELVENT JSC: Creditors' Liquidation Claims Due by March 14
---------------------------------------------------------
Creditors of JSC Elvent have until March 14, 2008, to submit
their claims to:

         Rudolf Koch
         Koellikerstrasse 51
         Gretzenbach
         Olten SO
         Switzerland

The Debtor can be reached at:

         JSC Elvent
         Schofflisdorf
         Dielsdorf ZH
         Switzerland


EPM ENGINEERING: Creditors' Liquidation Claims Due by March 14
--------------------------------------------------------------
Creditors of LLC EPM Engineering und Projekmanagement have until
March 14, 2008, to submit their claims to:

         LLC EPM Engineering und Projekmanagement
         Wasserwiesenstrasse 91
         8408 Winterthur ZH
         Switzerland


FAXTOR INVESTMENTS: Creditors Must File Claims by March 12
----------------------------------------------------------
Creditors of JSC Faxtor Investments have until March 12, 2008,
to submit their claims to:

         Heini Rudisuhli
         Liquidator
         Baarerstrasse 95
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC Faxtor Investments
         Zug
         Switzerland


FITNESS-SHOP: Creditors' Liquidation Claims Due by March 14
-----------------------------------------------------------
Creditors of LLC Fitness-Shop Turgi have until March 14, 2008,
to submit their claims to:

         Gaetano Ferradino
         Blumenweg 4g
         5300 Turgi
         Baden AG
         Switzerland

The Debtor can be reached at:

         LLC Fitness-Shop Turgi
         Turgi
         Baden AG
         Switzerland


GEBERT GRAPHIC: Creditors' Liquidation Claims Due by March 12
-------------------------------------------------------------
Creditors of LLC Gebert Graphic Design have until March 12,
2008, to submit their claims to:

         LLC Gebert Graphic Design
         Gehrenholzstrasse 4
         8055 Zurich
         Switzerland


INNOVADIS JSC: Creditors' Liquidation Claims Due by March 11
------------------------------------------------------------
Creditors of JSC Innovadis have until March 11, 2008, to submit
their claims to:

         JSC Beret
         Liquidator
         Bleicherweg 14/PF 2080
         8022 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Innovadis
         Zurich
         Switzerland


JFC JURFINANZ: Creditors' Liquidation Claims Due by March 12
------------------------------------------------------------
Creditors of JSC JFC JurFinanz & Consult have until March 12,
2008, to submit their claims to:

         JSC JFC JurFinanz & Consult
         Industriestrasse 13b
         6304 Zug
         Switzerland


MBM DESIGN: Creditors' Liquidation Claims Due by March 14
---------------------------------------------------------
Creditors of LLC MBM Design have until March 14, 2008, to submit
their claims to:

         Maja Bosch
         Liquidator
         Todistrasse 16
         8634 Hombrechtikon
         Meilen ZH
         Switzerland

The Debtor can be reached at:

         LLC MBM Design
         Zurich
         Switzerland


OBJECT IDEA: Creditors' Liquidation Claims Due by March 14
----------------------------------------------------------
Creditors of LLC Object IDEA have until March 14, 2008, to
submit their claims to:

         Davide Zanichelli
         Liquidator
         Sonnenhof 37
         8808 Pfaffikon SZ
         Switzerland

The Debtor can be reached at:

         LLC Object IDEA
         Freienbach
         Hofe SZ
         Switzerland


PETROLEOS DE VENEZUELA: Foreign Clients Must Pay Through Bank
-------------------------------------------------------------
Petroleos de Venezuela SA has instructed foreign clients to pay
their purchases by making deposits in Banco Central de
Venezuela's account in Switzerland's UBS bank, El Universal
reports.

Banco Central de Venezuela agreed with Petroleos de Venezuela to
make the oil-related deposits in the UBS account that they own
jointly so they can determine what the payments for the oil
company's sales are, El Universal says, citing sources.

Traders told El Universal that over the last few weeks they made
the payments to that account, after a court order froze a US$315
million account of Petroleos de Venezuela's Cerro Negro in the
New York Bank at the request of US oil company Exxon Mobil.
Petroleos de Venezuela has an ongoing dispute with Exxon Mobil
over an asset freeze order issued by the London High Court,
among others.

                  About Petroleos de Venezuela

Petroleos de Venezuela SA -- http://www.pdv.com/-- is
Venezuela's state oil company in charge of the development of
the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the
operational activities of its divisions, both in Venezuela and
abroad.  The company has a commercial office in China.  The
company also has offices in London and Holland.

RUHR OEL GMBH, a German refinery in 50% run by PDVSA.   The
company has a one million-barrel refining capacity per day, of
which around 250,000 belong to the Venezuelan corporation.  The
company also provides the German market with 20% of its by-
products and petrochemicals needs.

PDVSA runs 50 % of this company in association with Veba Oel,
which has four refineries, that makes it the biggest company
refining oil products in Germany. It has a one million-barrel
refining capacity per day, of which around 250,000 belong to the
Venezuelan corporation.  Besides this, RUHR OEL GMBH provides
the German market with 20% of its by-products and petrochemicals
needs.

PDVSA and the Finnish Neste Corporation are partners, with a
share 50% each of the corporation AB NYNAS PETROLEUM, which runs
refineries in Sweden, Belgium and The United Kingdom.

                          *     *     *

To date, Petroleos de Venezuela SA carries Fitch's BB- long term
issuer default rating and local currency long term issuer
default rating.  Fitch said the ratings outlook was negative.


PILATUSMED LLC: Creditors' Liquidation Claims Due by March 12
-------------------------------------------------------------
Creditors of LLC Pilatusmed have until March 12, 2008, to submit
their claims to:

         Gert Erhard Wihlborg
         Rigiweg 1b
         5626 Hermetschwil-Staffeln
         Bremgarten AG
         Switzerland

The Debtor can be reached at:

         LLC Pilatusmed
         Risch ZG
         Switzerland


SILK & CASHMERE: Creditors' Liquidation Claims Due by March 12
-------------------------------------------------------------
Creditors of LLC Silk & Cashmere Fabeks have until March 12,
2008, to submit their claims to:

         Dr. Peter Borer
         Ramistrasse 46
         8001 Zurich
         Switzerland

The Debtor can be reached at:

         LLC Silk & Cashmere Fabeks
         St. Moritz
         Maloja GR
         Switzerland


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


ALMADA LLC: Proofs of Claim Deadline Set March 17
-------------------------------------------------
Creditors of LLC Almada (code EDRPOU 35340278) have until
March 17, 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
supervision procedure on the company on Feb. 6, 2008.  The case
is docketed as B 15/33-08.

The Debtor can be reached at:

         LLC Almada
         Bazovaya Str. 8
         49127 Dnipropetrovsk
         Ukraine


BASTION LLC: Creditors Must File Claims by March 17
---------------------------------------------------
The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent on Feb. 12, 2008.
The case is docketed as 28/30-b.

Creditors of LLC Bastion (code EDRPOU 30781626) have until
March 17, 2008, to submit written proofs of claim to:

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

The Debtor can be reached at:

         LLC Bastion
         Bastionnaya Str. 5/13
         Kiev
         Ukraine


DONETSK MOTORCAR: Proofs of Claim Deadline Set March 17
-------------------------------------------------------
Creditors of OJSC Donetsk Motorcar Transport Subsidiary Company
Donetsk Motorcar Enterprise (code EDRPOU 31476779) have until
March 17, 2008, to submit written proofs of claim to:


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

The Economic Court of Donetsk commenced bankruptcy supervision
procedure on the company on Jan. 17, 2008.  The case is docketed
as 45/11B.

The Debtor can be reached at:

         OJSC Donetsk Motorcar Transport Subsidiary Company
         Donetsk Motorcar Enterprise

         Bauman Str. 12
         83085 Donetsk
         Ukraine


EUROCLASS LLC: Creditors Must File Claims by March 17
-----------------------------------------------------
Creditors of LLC Euroclass (code EDRPOU 31799828) have until
March 17, 2008, to submit written proofs of claims to:

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

The Economic Court of Kharkov commenced bankruptcy proceedings
against the company after finding it insolvent on Jan. 23, 2008.

The Debtor can be reached at:

         LLC Euroclass
         50 Years of VLKSM Str. 56
         61153 Kharkov
         Ukraine


IRBIS LLC: Creditors Must File Claims by March 17
-------------------------------------------------
Creditors of LLC Irbis (code EDRPOU 32891491) have until
March 17, 2008, to submit written proofs of claims to:

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

The Economic Court of Kharkov commenced bankruptcy proceedings
against the company after finding it insolvent on Feb. 11, 2008.
The case is docketed as B-24/248-07.

The Debtor can be reached at:

         LLC Irbis
         Povstannia Square 7/8
         61005 Kharkov
         Ukraine


KAGARLYK MOTORCAR: Proofs of Claim Deadline Set March 17
--------------------------------------------------------
The Economic Court of Kiev commenced the bankruptcy supervision
procedure on the company.  The case is docketed as B14/481.

Creditors of OJSC Kagarlyk Motorcar Enterprise-13255 (code
EDRPOU 05538684) have until March 17, 2008, to submit written
proofs of claim to:

The Debtor can be reached at:

         OJSC Kagarlyk Motorcar Enterprise-13255
         Kommunarovskaya Str. 97
         Kagarlyk
         Kiev
         Ukraine


TREMBITA S: Creditors Must File Claims by March 15
--------------------------------------------------
The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent on Feb. 4, 2008.
The case is docketed as 49/232-b.

Creditors of LLC Trembita S (code EDRPOU 34294781) have until
March 15, 2008, to submit written proofs of claim to:

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

The Debtor can be reached at:

         LLC Trembita S
         Svetlitsky Str. 33-a
         04123 Kiev
         Ukraine



VP OZKV: Creditors Must File Claims by March 15
-----------------------------------------------
Creditors of LLC VP OZKV (code EDRPOU 34873359) have until
March 15, 2008, to submit written proofs of claim to:

         The Economic Court of Odessa
         Shevchenko Avenue 4
         65032 Odessa
         Ukraine

The Economic Court of Odessa commenced bankruptcy proceedings
against the company after finding it insolvent on Feb. 7, 2008.
The case is docketed as 7/1-08-62.

The Debtor can be reached at:

         LLC VP OZKV
         Apartment 77
         Cosmonauts Str. 21/4
         65079 Odessa
         Ukraine


YUDION-TRADE LLC: Proofs of Claim Deadline Set March 17
-------------------------------------------------------
Creditors of LLC Yudion-Trade (code EDRPOU 35203323) have until
March 17, 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
supervision procedure on the company on Feb. 6, 2008.  The case
is docketed as B 15/34-08.

The Debtor can be reached at:

         LLC Yudion-Trade
         Elektricheskaya Str. 2
         49000 Dnipropetrovsk
         Ukraine


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


ABC LEARNING: CEO Eddy Groves Sells Majority of Stake
-----------------------------------------------------
Eddy Groves, founder and chief executive officer of of A.B.C.
Learning Centres Limited, sold most of his remaining stake after
more margin calls in the wake of a deal to sell part of the
company's U.S. assets, Reuters reports.

In a notice filed to the Australian stock exchange, Mr. Groves
sold 12.165 million shares, leaving him with 3,186 shares and
options, Reuters relates.  His wife, Le Neve Groves, a director,
also sold her entire holding of six million shares.

Reuters notes that ABC Learning's shares were hammered last week
after disappointing earnings and concerns about it high debt
levels, built up to fund a rapid expansion in the U.S. last
year.  The fall triggered margin sales by several directors,
including Eddy Groves.

ABC recently announced that it would sell 60% of its U.S.
business to Morgan Stanley Private Equity, raising about
AUUS$750
million to repay part of its heavy debts, Reuters reports.

                  About A.B.C. Learning

A.B.C. Learning Centres Limited provides childcare services and
education.  The company operates in Australia, New Zealand, the
United States and the United Kingdom.  The company's
subsidiaries include A.B.C. Developmental Learning Centres Pty
Ltd, A.B.C. Early Childhood Training College Pty Ltd, Premier
Early Learning Centres Pty Ltd, A.B.C.  Developmental Learning
Centres (NZ) Ltd., A.B.C. New Ideas Pty. Ltd., A.B.C. Land
Holdings (NZ) Limited and Child Care Centres Australia Ltd.

On September 25, 2006, the company acquired Hutchison Child Care
Services Ltd.  On September 7, 2006, it acquired The Children's
Courtyard LLP.  On December 18, 2006, it acquired Busy Bees
Group Ltd. On January 26, 2007, it acquired La Petite Holdings
Inc.  On February 2, 2007, it acquired Forward Steps Holdings
Ltd.  On March 23, 2007, it acquired Children's Gardens LLP. In
September 2007, the company purchased the Nursery division
(Leapfrog Nurseries) from Nord Anglia Education PLC.

As previously reported, the company's Sydney trading on Feb. 26,
2008 plunged 43% after a slump in earnings raised concerns it
may struggle to repay debt.  The drop to AUUS$2.14 triggered
margin calls on stakes held by some directors.  Consequently,
stock trading was halted as the company entered talks on
"indications of interest" for parts of its business.

More than 96% of the remaining 21.9 million ABC Learning shares
owned by directors, equivalent to 4.6% of stock outstanding, are
held in margin lending arrangements that may result in forced
sales.


ALT DECORATORS: Brings In Liquidators from PKF
----------------------------------------------
Kerry Bailey and Jonathan Newell of PKF (UK) LLP were appointed
joint liquidators of Alt Decorators Ltd. on Feb. 26 for the
creditors' voluntary winding-up proceeding.

The joint liquidators can be reached at:

         PKF (UK) LLP
         Sovereign House
         Queen Street
         Manchester
         M2 5HR
         England


APHEX CAPITAL: Moody's Cuts Rating on EUR10 Mln Notes to Ba1
------------------------------------------------------------
Moody's Investors Service downgraded one class of notes issued
by Aphex Capital Plc.

This downgrade is the result of a credit migration in the
underlying pool.

The rating actions is:

Aphex Capital Plc:

    (1) EUR10,000,000 Series 2005-16 DESIGN Secured Portfolio
        Credit-Linked Fixed Rate Notes due 2012

        Current Rating: Ba1
        Prior Rating: Baa2, on review for downgrade



ASP LTD: Claims Filing Period Ends April 11
-------------------------------------------
Creditors of ASP (Surface Solutions) Ltd. have until
April 11, 2008 to send their names and addresses and particulars
of their claims to:

         David Antony Willis and Matthew Colin Bowker
         Joint Liquidators
         Tenon Recovery
         2a Low Ousegate
         York
         YO1 9QU
         England

David Antony Willis and Matthew Colin Bowker of Tenon Recovery
were appointed joint liquidators of the company on Feb. 27 for
the creditors' voluntary winding-up proceeding.


AWE ELECTRICAL: Appoints Liquidator from Tenon Recovery
-------------------------------------------------------
Christopher Benjamin Barrett of Tenon Recovery were appointed
joint liquidators of on for the creditors' voluntary winding-up
procedure.

The joint liquidators can be reached at:

         Tenon Recovery
         Clive House
         Clive Street
         Bolton
         BL1 1ET
         England


BAA LTD: Selling World Duty Free Europe for GBP546.6 Million
------------------------------------------------------------
BAA Ltd. has agreed to sell World Duty Free Europe Ltd. to
Autogrill S.p.A. for GBP546.6 million.

With over EUR4.8 billion of sales in 2007, Autogrill Group is
active in 42 countries with around 70,000 employees.  It
operates over 5,200 shops in over 1,100 locations, serving 890
million customers a year.  Its main business channels are
airports, motorways and railway stations but the Group has also
significant operations in shopping centers, trade fairs, museums
and city high streets.

BAA is selling WDF as part of its ongoing non-core asset
disposal program.  WDF will enter into a 12-year concession
agreement for the operation of duty free stores at BAA's seven
UK airports.

Proceeds of the sale will be used to repay debt in accordance
with the terms of the ADI financing agreements.  The disposal is
conditional upon ECMR clearance and is expected to complete
towards the end of April.

The equity purchase price of GBP546.6 million is stated as at
Dec. 31, 2007.  The final consideration will be adjusted upwards
from this date until completion at a rate equivalent to LIBOR
+2%.

                         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.


CARLYLE CAPITAL: In Talks With Lenders Over Financing Situation
---------------------------------------------------------------
Carlyle Capital Corporation Limited is in continuing discussions
with its lenders regarding the company's financing situation.
The company on Thursday, March 6, 2008, received substantial
additional margin calls and additional default notices from its
lenders.  The company was also notified that some of its RMBS
securities had been liquidated by lenders who had previously
issued default notices to the company.  It is possible that
additional securities may be liquidated by the lenders.

In the past several days there has been a rapid and severe
deterioration in the market for U.S. government agency AAA-rated
residential mortgage-backed securities.  Based on the weakened
market, several of the company's lenders marked down the value
of the company's RMBS securities and informed the company that
they would soon materially increase their collateral
requirements.

Although the company believed last week that it had sufficient
liquidity, it was informed by its lenders this week that
additional margin calls and increased collateral requirements
would be significant and well in excess of the margin calls it
received Wednesday, March 5, 2008.  The company believes these
additional margin calls and increased collateral requirements
could quickly deplete its liquidity and impair its capital.

Management is closely monitoring the situation and considering
all available options for the company.

                        About Carlyle Capital

Carlyle Capital Corporation Limited (Euronext Amsterdam ticker
symbol: CCC; ISIN: GG00B1VYV826) --
http://www.carlylecapitalcorp.com/-- is a Guernsey investment
company that was formed on Aug. 29, 2006.  It is a closed-end
investment fund domiciled and registered as a limited company
under the laws of Guernsey, Channel Islands.  CCC's Class B
shares are listed on Eurolist by Euronext, the regulated market
of Euronext Amsterdam N.V. in the Netherlands (ticker: CCC), and
CCC is registered with the Netherlands Authority for the
Financial Markets (Stichting Autoriteit Financiele Markten).

CCC invests in a diversified portfolio of fixed income assets
including high-grade mortgages and credit products.  CCC's day-
to-day activities and investment portfolio are managed by
Carlyle Investment Management LLC, whose investment
professionals have extensive experience in the areas of mortgage
finance, leveraged finance, capital markets transaction
structuring and risk/portfolio management.

CIM manages the CCC pursuant to a management agreement.  CIM is
a registered investment adviser under the U.S. Investment
Advisers Act of 1940 and is an affiliate of The Carlyle Group.


CHEMTURA CORP: Acquires Baxenden Chemicals for GBP13 Million
------------------------------------------------------------
Chemtura Corporation has acquired the stock of Baxenden
Chemicals Limited owned by Croda International Plc. in an all-
cash transaction for GBP13 million, increasing its ownership to
100 percent.  Chemtura previously held 53.5% of Baxenden's
stock.

Baxenden, a world leader in polyurethane technology, has 212
employees and had 2007 revenues of approximately US$70 million.
Baxenden has manufacturing facilities in Accrington and
Droitwich, UK.

"Full ownership of Baxenden will permit better utilization of
the complementary technology and manufacturing experience of our
businesses and will result in offering our customers a broader
portfolio of products, technology and service.  While we
evaluated selling this joint venture, we determined that full
ownership would create much more value through the integration
of Baxenden's and Chemtura's broad capabilities," said Robert
Wedinger, chief business officer for Chemtura and group
president of Chemtura Performance Specialties, which includes
the urethanes business.

"Baxenden has strong technology platforms that dovetail with
Chemtura's existing high-performing urethanes business.  We see
exciting growth potential for their polyurethane dispersion
(PUD) products, specialist polyurethane prepolymers, and blocked
isocyanate products and expect Baxenden to benefit from the
global growth opportunities which now will be available as part
of Chemtura," Mr. Wedinger said.

Lazard Ltd. acted as financial adviser on the transaction.

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 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.


CITY WALL: Appoints Joint Administrators from Ernst & Young
-----------------------------------------------------------
Robert Hunter Kelly and Charles Graham John King of Ernst &
Young LLP were appointed, Feb. 28, 2008, joint administrators
of:

   -- City Wall Corp. (Leeds) Ltd. (Company Number 04992140);
   -- City Wall Corporation Ltd. (Company Number 04611585); and
   -- Crossburn Ltd. (Company Number 05014722).

Ernst & Young -- http://www.ey.com/-- provides broad array of
services relating to audit and risk-related services, tax, and
transactions across all industries—from emerging growth
companies to global powerhouses—deal with a broad range of
business issues.

The company can be reached at:

         City Wall Corporation (Leeds) Ltd.
         49 Upper Basinghall Street
         Leeds
         West Yorkshire
         LS1 5HR
         England


CLEAR CHANNEL: Extends Closing of Notes Tender Offer to March 18
----------------------------------------------------------------
Clear Channel Communications Inc. extended the date on which:

   -- the pricing for the Notes will be established from
      2:00 p.m. New York City time on March 6, 2008, to
      2:00 p.m. New York City time on March 14, 2008;

   -- the tender offers are scheduled to expire from 8:00 a.m.
      New York City time on March 10, 2008, to 8:00 a.m. New
      York City time on March 18, 2008; and

   -- the consent payment deadline for the Notes from 8:00 a.m.
      New York City time on March 10, 2008, to 8:00 a.m. New
      York City time on March 18, 2008.

Each of the Price Determination Date, the Offer Expiration Date
and the Consent Payment Deadline is subject to extension by
Clear Channel, with respect to the for its outstanding 7.65%
Senior Notes due 2010 (CUSIP No. 184502AK8) and Clear Channel's
subsidiary AMFM Operating Inc.'s outstanding 8% Senior Notes due
2008 (CUSIP No. 158916AL0), in their sole discretion.

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

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

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

Clear Channel has retained Citi to act as the lead dealer
manager for the tender offers and lead solicitation agent for
the consent solicitations and Deutsche Bank Securities Inc. and
Morgan Stanley & Co. Incorporated to act as co-dealer managers
for the tender offers and co-solicitation agents for the consent
solicitations.

Global Bondholder Services Corporation is the Information Agent
for the tender offers and the consent solicitations.  Questions
regarding the transaction should be directed to Citi at (800)
558-3745 (toll-free) or (212) 723-6106 (collect).  Requests for
documentation should be directed to Global Bondholder Services
Corporation at (212) 430-3774 (for banks and brokers only) or
(866) 924-2200 (for all others toll-free).

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

The closing of the Merger is expected to occur during the first
quarter 2008.  The closing of the Merger is subject to customary
closing conditions.

                        About Clear Channel

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 France, Italy, Spain, the
United Kingdom, Australia and China.  The company also has
equity interests in international radio broadcasting companies
located in Australia, New Zealand and Mexico.

                         *     *     *

As reported in the Troubled Company Reporter-Europe on
Jan. 31, 2008, 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.


CUMMINS INC: Names Jean Blackwell as EVP & CEO of Foundation
-------------------------------------------------------------
Cummins Inc. has appointed Jean Blackwell, the company’s chief
financial officer, as its executive vice president of corporate
responsibility and chief executive officer of the Cummins
Foundation.  Pat Ward, currently Vice President and Engine
Business Controller, will become the Chief Financial Officer,
effective May 1.

"In her new role, Jean will help us re-define Cummins’
commitment to corporate responsibility, which is critical to our
success in this period of significant growth both in the U. S.
and around the world," said Tim Solso, Cummins Chairman and CEO.
"Jean’s new position also provides her with the opportunity
to make a direct and significant impact on the communities where
Cummins operates, which is very meaningful to her at this stage
in her career and one of the primary reasons she joined Cummins
11 years ago."

Ms. Blackwell has been with the Company since 1997 and has
served in various roles including General Counsel and Vice
President - Human Resources.  Prior to joining Cummins, she was
a partner with the law firm of Bose McKinney & Evans in
Indianapolis.  She also previously served as Budget Director for
the State of Indiana and Executive Director of the State Lottery
Commission.

Mr. Ward has held a number of finance leadership positions in
the Company over the last 20 years.  He joined Cummins in 1987
as a member of the finance team for Cummins Generator
Technologies and moved to the Fuel Systems operation as
Controller in 1995.  In 1996, he joined Corporate Finance as
Director - Business Planning and Analysis.  He became Director -
Finance and Information Technology for Consolidated Diesel
Company in 1998, and in 2000 was named Controller for Cummins
Filtration, then known as Fleetguard.  He became Power
Generation Controller in 2003 and transferred to the Engine
Business in 2005.  He was named a Cummins Vice President in
2006.

"Both of these individuals are extremely talented and well
qualified for their new positions," Mr. Solso said.  "We are
excited to have them in these critical roles."

                         About Cummins

Headquartered in Columbus, Indiana, Cummins Inc. (NYSE: CMI)
-- http://www.cummins.com/-- designs, manufactures, distributes
and services engines and related technologies, including fuel
systems, controls, air handling, filtration, emission solutions
and electrical power generation systems.

Cummins has Latin-American operations, particularly in
Venezuela, Brazil, Peru, Colombia, and Argentina.  Its
operations in the Asia-Pacific are found in China, Japan and
Korea.  Its also has facilities in Europe, particularly in the
United Kingdom.

                         *     *     *

Cummins' Junior Convertible Subordinated Debentures carry
Fitch Ratings' 'BB' rating with a stable outlook.

Moody's Investors Service raised Cummins' convertible preferred
stock rating to Ba1 from Ba2 and withdrew the company's SGL-1
Speculative Grade Liquidity rating and its Ba1 Corporate Family
Rating.


DOLGARROG ALUMINIUM: Proposed Sale of Business and Assets Fails
---------------------------------------------------------------
KPMG LLP, as administrators of Dolgarrog Aluminium Ltd., said
that the proposed sale of the company’s business and its assets
has collapsed.

In the last months, the administrators, in conjunction with the
Welsh Assembly Government, have been working to conclude a deal
to sell the business and assets of the company to secure a
future for the operation.

"Since the outset, we have worked to overcome a number of
obstacles which were frustrating the completion of a potential
deal.  It is, however, with regret that we have to announce that
the proposed buyer, a Russian operation, has confirmed that it
is no longer interested in pursuing the transaction to its
completion," Brian Green, joint administrator at KPMG disclosed.

"We will now concentrate our efforts with the assistance of the
Welsh Assembly Government on the disposal of the assets of the
company via alternative routes," Mr. Green added.

KPMG LLP -- http://www.kpmg.co.uk/-- offers accounting, audit,
and tax-related services to customers in such target industries
as banking, media and entertainment, consumer products, health
care providers, insurance, and pharmaceuticals.

Based in Conwy, North Wales, Dolgarrog Aluminium Ltd. --
http://www.dolgarrog.com/-- the firm is the only fully
integrated casting and rolling aluminium mill in the U.K.  It
employs 170 people and last year had a turnover or around GBP19
million.  Dolgarrog supplies products into four key industries
including electrolytic zinc extraction and aerospace
engineering.


E@SY REC: Claims Filing Period Ends March 27
--------------------------------------------
Creditors of E@sy Rec Ltd. have until (t/ae@sy-recruitment)
March 27, 2008 to send in their names, their addresses and
descriptions, full particulars of their debts and claims, and
names and addresses of their solicitors (if any) to:

         Ian William Kings and Steven Philip Ross
         Joint Liquidators
         Tenon Recovery
         Tenon House
         Ferryboat Lane
         Sunderland
         Tyne and Wear
         SR5 3JN
         England

Ian William Kings and Steven Philip Ross of Tenon Recovery were
appointed joint liquidators of the company on Feb. 28 by
resolutions of members and creditors.


EVOKE 2K: Claims Filing Period Ends May 31
------------------------------------------
Creditors of Evoke 2K Ltd. have until May 31, 2008 to send their
full names, addresses and descriptions, full particulars of
their debts or claims, and the names and addresses of their
solicitors (if any) to:

         David Elliott
         Liquidator
         Moore Stephens LLP
         Victory House
         Quayside
         Chatham Maritime
         Kent
         ME4 4QU
         England

David Elliott of Moore Stephens LLP was appointed liquidator of
the company on Feb. 28 for the creditors' voluntary winding-up
procedure.


FEDERAL-MOGUL: Inks New Stock Option Pact with CEO Jose Alapont
---------------------------------------------------------------
Subject to the approval of its shareholders, Federal-Mogul Corp.
and its debtor-affiliates entered into a new Stock Option
Agreement with Jose Maria Alapont, its president and chief
executive officer, on Feb. 15, 2008.

On Dec. 27, 2007, the Debtors entered into a President and CEO
Stock Option Agreement with Mr. Alapont.

On Feb. 15, 2008, the Old Stock Option Agreement and the Old
Stock Option Agreement Amendment were canceled by mutual written
agreement of the company and Mr. Alapont, Federal-Mogul Corp.
senior vice president Robert L. Katz reports in a regulatory
filing with the U.S. Securities and Exchange Commission.

The New President and CEO Stock Option Agreement grants Mr.
Alapont a non-transferable, non-qualified option to purchase up
to 4,000,000 shares of the company's Class A Common Stock
subject to certain terms and conditions.  The exercise price for
the Option is US$19.50 per share, which is at least equal to the
fair market value of a share of the company's Class A Common
Stock on the date of grant of the Option, according to Mr. Katz.

The Option will expire on Dec. 27, 2014.

The New President and CEO Stock Option Agreement also provides
for vesting.  Specifically, 40% of the shares of Class A Common
Stock subject to the Option are vested, and an additional 20% of
the shares of Class A Common Stock subject to the Option will
vest on each of March 23, 2008; March 23, 2009; and March 23,
2010.

If prior to March 23, 2010, Mr. Alapont's employment with the
company (1) terminates by reason of death or disability, (2) is
terminated by the company without cause, or (3) is terminated by
Mr. Alapont for good reason, the Option will be exercisable with
respect to all of the shares of Class A Common Stock subject to
the Option on the date of Mr. Alapont's termination of
employment.  Mr. Alapont or his legal representative may
thereafter exercise the Option until and including the earlier
of (i) the date which is 90 days after the Employment
Termination Date, and (ii) the Expiration Date.

If Mr. Alapont's employment with the company terminates for any
other reason, the Option will be exercisable only to the extent
it is exercisable on Mr. Alapont's Employment Termination Date
and may thereafter be exercised by Mr. Alapont or his legal
representative until and including the earlier of (i) the date
which is 90 days after the Employment Termination Date, and (ii)
the Expiration Date.

If the company's shareholders do not approve the grant of the
Option pursuant to the New President and CEO Stock Option
Agreement before Dec. 31, 2008, then (a) the Option will not
become exercisable with respect to any shares of Class A Common
Stock subject to the Option, and (b) the Option and the New
President and CEO Stock Option Agreement will terminate on
Dec. 31, 2008.

The Option only will become exercisable with respect to any
shares of Class A Common Stock subject to the Option after the
approval of the Option by the company's shareholders, Mr. Katz
clarifies.

A full-text copy of the New President and CEO Stock Option
Agreement is available for free at the SEC:

                http://ResearchArchives.com/t/s?28e2

                     About Federal-Mogul

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

The Company filed for chapter 11 protection on Oct. 1, 2001
(Bankr. Del. Case No. 01-10582).  Lawrence J. Nyhan Esq., James
F. Conlan Esq., and Kevin T. Lantry Esq., at Sidley Austin Brown
& Wood, and Laura Davis Jones Esq., at Pachulski, Stang, Ziehl &
Jones, P.C., represented the Debtors in their restructuring
efforts.  When the Debtors filed for protection from their
creditors, they listed US$10.15 billion in assets and US$8.86
billion in liabilities.  Peter D. Wolfson, Esq., at Sonnenschein
Nath & Rosenthal; and Charlene D. Davis, Esq., Ashley B.
Stitzer, Esq., and Eric M. Sutty, Esq., at The Bayard Firm
represent the Official Committee of Unsecured Creditors.

On March 7, 2003, the Debtors filed their Joint Chapter 11 Plan.
They submitted a Disclosure Statement explaining that plan on
April 21, 2003.  They submitted several amendments and on June
6, 2004, the Bankruptcy Court approved the Third Amended
Disclosure Statement for their Third Amended Plan.  On July 28,
2004, the District Court approved the Disclosure Statement.  The
estimation hearing began on June 14, 2005.  The Debtors
submitted a Fourth Amended Plan and Disclosure Statement on Nov.
21, 2006, and the Bankruptcy Court approved that Disclosure
Statement on Feb. 6, 2007.  The Fourth Amended Plan was
confirmed by the Bankruptcy Court on Nov. 8, 2007, and affirmed
by the District Court on Nov. 14, 2007.

Similarly on Oct. 1, 2001, certain of the company’s United
Kingdom subsidiaries filed voluntary petitions for
reorganization under Chapter 11 of the Bankruptcy Code with the
Bankruptcy Court and filed petitions for Administration under
the United Kingdom Insolvency Act of 1986 in the High Court of
Justice, Chancery division in London, England.  The High Court,
in November 2006, approved the discharge of the Administration
Proceedings for those U.K. subsidiaries that entered into
Company Voluntary Arrangements.

                        *     *     *

As reported in the Troubled Company Reporter-Europe on Jan. 11,
2008, Moody's Investors Service confirmed the ratings of the
reorganized Federal-Mogul Corporation -- Corporate Family
Rating, Ba3; Probability of Default Rating, Ba3; and senior
secured bank credit facilities, Ba2.  The outlook is stable.
The financing for the company's emergence from Chapter 11
bankruptcy protection has been funded in line with the structure
originally rated by Moody's in a press release dated Nov. 28,
2007.

As reported in the Troubled Company Reporter-Europe on Jan. 8,
2008, Standard & Poor's Ratings Services assigned its 'BB-'
corporate credit rating to Southfield, Michigan-based Federal-
Mogul Corp. following the company's emergence from Chapter 11 on
Dec. 27, 2007.  The outlook is stable.


FORD MOTOR: To Give Out Performance Bonuses to All Employees
------------------------------------------------------------
Ford Motor Co. will dole out performance bonuses to all its
hourly and salaried employees in North America despite incurring
a US$2.7 billion loss in 2007, various sources report citing
Ford CEO Allan Mulally.

Hourly workers will get a lump sum payment of US$1,000 beginning
March 13, while salaried employees' perk will be based on
payment grade and leadership level, The Wall Street Journal
reports.  The move was instigated to boost morale amid a
difficult turnaround.

While Ford didn't meet profit and market share goals for 2007,
it did improve its cost performance, quality, automotive cash
flow and financial results, Mr. Mulally said in the e-mail
message cited by WSJ's source.

As reported in the Troubled Company Reporter on March 9, 2007,
Ford Motor paid hourly and salaried employees a bonus of between
US$300 and US$800.

In addition, Tom Krisher of The Associated Press relates that
Ford will defer salaried worker merit increases to July 1 from
April 1 for the company to attain cost objectives.

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

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

                          *     *     *

As reported in the Troubled Company Reporter-Europe on Feb. 18,
2008, Fitch Ratings affirmed the Issuer Default Ratings of Ford
Motor Company and Ford Motor Credit Company at 'B', and
maintained the Rating Outlook at Negative.

As reported in the Troubled Company Reporter-Europe on Nov. 20,
2007, Moody's Investors Service 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.


FORD MOTOR: Luxury Brands Buyer Says Won't Flip Jaguar
------------------------------------------------------
Ford Motor Co. luxury brands buyer Tata Motors Ltd. denies
speculations that it may sell Jaguar after closing the
acquisition deal, Mike Spector and Edward Taylor of The Wall
Street Journal report.  Tata Group Chairman Ratan Tata said that
Tata Motors Ltd. won't flip Jaguar, and further assured workers
at Ford's Jaguar and Land Rover luxury brands that the company
won't introduce drastic changes to the brands' business
structure.

"These are two iconic brands . . . the plan would be to retain
the image and not to tamper it in any way,"Reuters quoted a Tata
spokesperson as telling reporters at the Geneva auto show on
Tuesday.  According to the unnamed spokesperson, Tata intends to
"nurture and grow"the brands.

A Financial Times report on Wednesday said that Mr. Tata expects
Jaguar and Land Rover's management to integrate with Tata
Motors,' but he promises they would not get involved with
"Indianising"the company.

Tata Motors became the front-runner to buy Ford's Jaguar and
Land Rover, outbidding Mahindra & Mahindra in collaboration with
buyout firm Apollo; and One Equity Partners LLC.

                         Deal Delayed

As reported in the Troubled Company Reporter on Feb 26, 2008,
the announcement of the sale of the two luxury brands to Tata
Motors is expected to be out on March 6 or 7.  WSJ, citing an
unnamed person briefed on the negotiations, said talks were
likely to extend beyond this week.

According to the Indo-Asian News Service, the purchase has been
delayed  by more than 10 days.  "We have been told that the
memorandum of sales will now take place in the week beginning
March 17, after the Geneva Motor Show is over,"IANS quotes a
spokesman for Unite workers' as saying.

Ford noted in its U.S. Securities and Exchange Commission annual
report filing that the sale deal with Tata Motors for the two
units is expected to close in the second quarter.

                       About Tata Motors

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

Tata Motors has operations in Russia and the United Kingdom.

                       About Ford Motor

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

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

                          *     *     *

As reported in the Troubled Company Reporter-Europe on Feb. 18,
2008, Fitch Ratings affirmed the Issuer Default Ratings of Ford
Motor Company and Ford Motor Credit Company at 'B', and
maintained the Rating Outlook at Negative.

As reported in the Troubled Company Reporter-Europe on Nov. 20,
2007, Moody's Investors Service 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.


GENERAL MOTORS: Restores CEO's Pay to 2003 Level of US$2.2 Mil.
---------------------------------------------------------------
General Motors Corp. restored the salary of G. Richard Wagoner,
Jr., its chairman and chief executive officer, to 2003 level of
US$2,200,000.  His 2008 Annual Incentive Plan target will be
US$3,520,000 and long-term incentive opportunity under the 2008-
2010 Stock Performance Plan will be a grant of 165,563 shares of
GM Common Stock.

In addition, Mr. Wagoner will receive 500,000 stock options and
75,000 restricted stock units.  The stock options will vest
ratably over a three-year period.  The restricted stock units
will vest 1/3 in year three, 2011, with the remaining 2/3
vesting through year five.

Grants of performance contingent stock options were approved for
Messrs. Wagoner and Frederick Henderson, president and chief
operating officer, in amounts of 500,000 shares and 200,000
shares, respectively.  These options were granted at US$23.13 on
the date of grant, March 5, 2008, and will vest following the
first anniversary date of the grant if the price of GM common
stock reaches US$40.00, or 173% of the grant price, prior to
March 5, 2013, and this price is maintained for a ten day period
within 30 consecutive trading days.  Vested performance options
may be exercised through March 5, 2015, a seven year term.

Net shares acquired upon exercise must be held for at least a
two year period while the executive is actively employed.
Shares acquired upon exercise after retirement are not subject
to this holding requirement.  Options that do not vest before
March 5, 2013 will be forfeited.

               Newly Appointed Officers and Their Pay

As reported in the Troubled Company Reporter on March 4, 2008,
GM board of directors appointed these officers effective
immediately, at its meeting on March 3:

   * Frederick (Fritz) A. Henderson, 49, vice chairman and chief
     financial officer, is elected president and chief operating
     officer;

   * Ray Young, 46, currently group vice president - finance, is
     elected executive vice president and chief financial
     officer, replacing Mr. Henderson; and

   * Thomas G. Stephens, 59, currently group vice president,
     global powertrain and global quality, is also elected
     executive vice president.

As president and COO, Mr. Henderson's base salary will be
US$1,800,000.  His 2008 annual incentive plan target will be
US$2,430,000 and long-term incentive opportunity under the 2008
-- 2010 stock performance plan will be a grant of 110,376 shares
of GM common stock.  In addition, he will receive 250,000 stock
options and 60,000 restricted stock units.  The stock options
will vest ratably over a three year period.  The restricted
stock units will vest 1/3 in year three, 2011, with the
remaining 2/3 vesting through year five.

Mr. Henderson's brother, Douglas L. Henderson, is a non-
executive employee of the company, with annual compensation of
less than US$200,000.  Other than that relationship, there is no
reportable relationship between the company or its affiliates
and Mr. Henderson.

As CFO, Mr. Young's base salary will be US$900,000.  His 2008
annual incentive plan target will be US$945,000 and long-term
incentive opportunity under the 2008-2010 stock performance plan
will be a grant of 16,557 shares of GM common stock.  In
addition, he will receive 87,500 stock options and 30,354 cash-
based restricted stock units.  The stock options will vest
ratably over a three year period.  The cash-based restricted
stock units will vest ratably over a three year period.

              Exec Bonuses a Sensitive Issue for UAW

Reuters and The Wall Street Journal ran separate reports citing
that bonuses and compensation awarded to executives at GM are
delicate matters for the United Auto Workers union.  Both
reports noted UAW president Ron Gettelfinger's move to question
the large amounts of money that company executives get amid the
company's losses.

GM spokesman, Renee Rashid-Merem, explained that a large amount
of the compensation afforded to the executives was dependent on
the financial performance of the company, Reuters said.

Analysts complimented GM's efforts of reducing its fixed costs
by US$9 billion and of reaching an agreement with the UAW, which
is projected to result in yearly savings of US$500 million for
GM, Reuters added.

                      About General Motors

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 266,000 people around the world and manufactures cars and
trucks in 35 countries.  In 2007, nearly 9.37 million GM cars
and trucks were sold globally under the following brands: Buick,
Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn, Vauxhall and Wuling.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security
and information services.

                          *     *     *

As reported in the Troubled Company Reporter-Europe on Feb. 28,
2008, Fitch Ratings has affirmed the Issuer Default Rating of
General Motors at 'B', with a Rating Outlook Negative.

As reported in the Troubled Company Reporter-Europe on March 6,
2008, Standard & Poor's Ratings Services said that its ratings
on General Motors Corp. (GM; B/Stable/B-3) are not immediately
affected by the United Auto Workers work stoppage at key
supplier American Axle and Manufacturing Holdings Inc.
(BB/Negative/--) that began Feb. 26.


GENERAL MOTORS: 18 Plants to Lay Off Workers Due to AAM Strike
--------------------------------------------------------------
General Motors Corp. disclosed that 18 North American
manufacturing facilities will be partially or fully affected by
an ongoing labor dispute between GM's key supplier American Axle
and Manufacturing Inc. and the United Auto Workers union.
Around 16,336 hourly workers and 2,476 salaried employees will
be displaced, according to a GM production statement.

Plants that are partially affected are those still producing
parts for GM facilities not affected by the strike.  These
plants are:

   * South Engine plant in Flint, Michigan;
   * Engine/Components plant in St. Catharines, Ontario;
   * Transmission plant in Baltimore, Maryland;
   * Components plant in Bay City, Michigan;
   * Casting plant in Bedford, Ohio;
   * Casting plant in Defiance, Ohio;
   * Components plant in Fredericksburg, Virginia;
   * Components plant in Parma, Ohio;
   * Transmission plant in Willow Run, Michigan;
   * Transmission plant in Ypsilanti, Michigan;
   * Engine plant in Tonawanda, New York;
   * Stamping plant in Flint, Michigan;
   * Stamping plant in Grand Rapids, Michigan;
   * Stamping plant in Indianapolis, Indiana;
   * Stamping plant in Mansfield, Ohio;
   * Stamping plant in Marion, Indiana; and
   * Stamping plant in Parma, Ohio.

An engine plant in Romulus, Michigan will be fully affected by
the strike and will cease producing V6 and V8 engines on March
10, 2008.

                Two Plants Idled Over Axle Dispute

As reported in the Troubled Company Reporter on March 5, 2008,
two additional production facilities in Moraine, Ohio, and
Mishawaka, Indiana, have been affected by the rally of Axle
union members.  A Toledo Transmission plant is anticipated to be
shut down on March 10, 2008, and is expected to lay off 1,444
hourly and 219 salaried workers.

UAW president Ron Gettelfinger and Vice President James Settles
disclosed that members at American Axle began an unfair labor
practices strike at on Feb. 26, 2008, following expiration of a
four-year master labor agreement.

                       About American Axle

Headquartered in Detroit, Michigan, American Axle &
Manufacturing Holdings Inc. (NYSE:AXL) -- http://www.aam.com/--
and its wholly owned subsidiary, American Axle & Manufacturing,
Inc., manufactures, engineers, designs and validates driveline
and drivetrain systems and related components and modules,
chassis systems and metal-formed products for light trucks,
sport utility vehicles and passenger cars.  In addition to
locations in the United States (in Michigan, New York and Ohio),
the company also has offices or facilities in Brazil, China,
Germany, India, Japan, Luxembourg, Mexico, Poland, South Korea
and the United Kingdom.

                      About General Motors

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 266,000 people around the world and manufactures cars and
trucks in 35 countries.  In 2007, nearly 9.37 million GM cars
and trucks were sold globally under the following brands: Buick,
Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn, Vauxhall and Wuling.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security
and information services.

                          *     *     *

As reported in the Troubled Company Reporter-Europe on Feb. 28,
2008, Fitch Ratings has affirmed the Issuer Default Rating of
General Motors at 'B', with a Rating Outlook Negative.

As reported in the Troubled Company Reporter-Europe on March 6,
2008, Standard & Poor's Ratings Services said that its ratings
on General Motors Corp. (GM; B/Stable/B-3) are not immediately
affected by the United Auto Workers work stoppage at key
supplier American Axle and Manufacturing Holdings Inc.
(BB/Negative/--) that began Feb. 26.


GENERAL MOTORS: Contracts Provide for Workers When Laid-Off
-----------------------------------------------------------
Tom Wickman, General Motor Corp.'s Global Manufacturing
Communications Manager, disclosed that its labor contracts with
the United Auto Workers union, the Canadian Auto Workers union
and the International Union of Electronic, Electrical, Salaried,
Machine and Furniture Workers provide compensation for people on
a short work week or regular layoff due to the impact of GM
facilities on American Axle and Manufacturing Inc.'s workers
union strike.

In addition, plants listed as "partially impacted"are still
producing parts for GM facilities not impacted by the strike.

GM's practice, Mr. Wickham relates, is to notify its employees
first when a particular plant will be affected by the protest.
Once the employee notification occurs, the company provides
basic information about the affected plant.

Not all plants affected by the strike shuts down completely.
Even though production stops, GM requires salaried employees to
report to their jobs and may need to retain hourly employees to
handle maintenance, sanitation or other work assignments.  Some
plants may have employees continue reporting to work for
training purposes.  These are reasons why the automaker is
unable to release layoff figures -- numbers vary on a day-to-day
basis.

Mr. Wickham elaborates that with a handful of assembly plants
idled by the strike, the company is experiencing some impact at
its Powertrain and Stamping operations.  Still, the layoffs are
minor in scope as the plants continue to produce parts for other
GM assembly plants that have not been impacted by the stike.

Mr. Wickham says its still premature to confirm on the amount of
production lost to date and GM's plans of recovery.

                      About General Motors

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 266,000 people around the world and manufactures cars and
trucks in 35 countries.  In 2007, nearly 9.37 million GM cars
and trucks were sold globally under the following brands: Buick,
Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn, Vauxhall and Wuling.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security
and information services.

                          *     *     *

As reported in the Troubled Company Reporter-Europe on Feb. 28,
2008, Fitch Ratings has affirmed the Issuer Default Rating of
General Motors at 'B', with a Rating Outlook Negative.

As reported in the Troubled Company Reporter-Europe on March 6,
2008, Standard & Poor's Ratings Services said that its ratings
on General Motors Corp. (GM; B/Stable/B-3) are not immediately
affected by the United Auto Workers work stoppage at key
supplier American Axle and Manufacturing Holdings Inc.
(BB/Negative/--) that began Feb. 26.


GREENLAND LTD: Claims Filing Period Ends May 30
-----------------------------------------------
Creditors of Greenland (Kent) Ltd. have until May 30, 2008 to
send in their names, addresses and descriptions, full
particulars of their debts or claims, and the names and
addresses of their solicitors (if any) to:

         David Elliott
         Liquidator
         Moore Stephens LLP
         Victory House
         Admiralty Place
         Chatham Maritime
         Kent
         ME4 4QU
         England

David Elliott of Moore Stephens LLP was appointed liquidator of
the company on Feb. 29 for the creditors' voluntary winding-up
procedure.


HOPKINSON CATERING: Claims Filing Period Ends March 27
------------------------------------------------------
Creditors of Hopkinson Catering Ltd. have until March 27, 2008
to send in their names and addresses with particulars of their
debts or claims to:

         Mark Jeremy Orton and Allan Watson Graham
         Joint Liquidators
         KPMG LLP
         St. Nicholas House
         Park Row
         Nottingham
         NG1 6FQ
         England

Mark Jeremy Orton and Allan Watson Graham of KPMG LLP were
appointed joint liquidators of the company on Feb. 21 for the
creditors' voluntary winding-up proceeding.


ISLE OF CAPRI: Appoints Jim Perry as Chief Executive Officer
------------------------------------------------------------
Jim Perry, a gaming industry executive, will become Isle of
Capri Casinos Inc.'s chief executive officer effective March 10,
replacing Bernard Goldstein in that position.

"Since joining our board last July, Jim Perry has served as the
chair of a joint strategic committee comprised of members of our
board and our management team," Bernard Goldstein, chairman of
the board and chief executive officer, commented.  "Our goal was
to develop a plan to make our assets more competitive, more
closely align our operating strategy with the needs of our
customers and strengthen our balance sheet."

"I firmly believe that the strategic plan developed under his
leadership will serve as a platform for the future growth of the
company." Mr. Goldstein said.  "As such, I am disclosing my
retirement from the position of chief executive officer and it
is my pleasure to disclose the appointment of Jim Perry to the
position of executive vice chairman and CEO, effective March 10,
subject to regulatory approval.

"Along with president and chief operating officer Virginia
McDowell and the rest of the senior management team, our
employees and investors are in the capable hands of a team that
is known for financial discipline and operational excellence,"
Mr. Goldstein continued.  "It has been my pleasure to watch the
company grow since our first casino opened in 1992."

"We have assembled a talented and respected team to ensure that
the company continues to grow into the future," Mr. Goldstein
said.  "I look forward to working with them, and will continue
to serve as chairman of the board as we implement our strategic
plan."

Over the past decade, Mr. Perry has served as the president,
chief executive officer and as a member of the board of
directors at both Trump Entertainment Resorts and Argosy Gaming
Company.  With nearly 30 years of experience leading gaming
operations and companies in regional and destination markets, he
is recognized as one of the gaming industry's distinguished
executives.

During Mr. Perry's tenure at Argosy, the company built one of
the strongest balance sheets in gaming, was an industry leader
in EBITDA margins, and was recognized by several leading
publications for record earnings growth and financial stability.

"Bernie Goldstein and the Isle board of directors have offered
me a wonderful opportunity to work with a very talented team, to
continue to enhance the value of the company for our
shareholders, improve the gaming experience for our customers,
and build a strong company with opportunity for our employees,"
Mr. Perry said.  "I appreciate both their support and their
confidence in me."

"The main components of the strategic plan are to focus on
organic growth opportunities, and to consolidate our portfolio
into two brands based on a variety of factors, including the
size of the facility, amenities, and the size of the primary
markets served," Mr. Perry explained.  "Our Isle brand will
feature regional facilities with hotel rooms and convention
facilities designed for both business and leisure travelers,
with upgraded amenities, all of which will complement our casino
product.  Based on a significant market research project
conducted with our database customers, we will reintroduce Lady
Luck as the brand for our smaller facilities that serve more
local markets."

"The strategic committee is continuing to work with the board of
directors on the approval of the major projects associated with
the re-branding, the timing of which will occur over the next
few years." Mr. Perry continued.  "The first Isle properties
will include Biloxi, where planning is nearly complete on Phase
One of the master plan, and Bettendorf, where the company is
beginning the planning process for a land-based casino which
will be located between the existing two hotel towers."

"We expect that the expanded Bettendorf facility will be
connected by a sky bridge to the new 50,000 square foot
convention center being jointly developed by the City of
Bettendorf and Isle of Capri, which the City expects to open
later this year," Mr. Perry said.  "Caruthersville will become
the first Lady Luck property by June 2008."

"We have a tremendous opportunity to unlock shareholder value by
further improving operating results," Virginia McDowell,
president and chief operating officer, added.  "We have made
progress over the course of fiscal 2008, most notably in Black
Hawk, the Quad Cities and Boonville.  Despite pressure on the
economy, EBITDA and margins have continued to improve at several
properties year over year. In addition, we continue to re-
engineer our business processes at both the corporate and
property levels."

"A reorganization at the corporate office, during the third
quarter, included a reduction in the workforce and the
introduction of cost saving programs which we expect, when fully
implemented, will result in expense reductions of over
US$3 million annually," Ms. McDowell added.  "In addition, we
are continuing to evaluate, consulting agreements and agreements
with outside contractors for additional expense reduction
opportunities.

"At the property level, we continue to identify margin
improvement opportunities, Ms. McDowell said.  "In many cases,
programs eliminated at the corporate level represent a direct
savings to the operating units.  We recognize, however, that
companies cannot save their way to success and we continue to
reallocate our resources in order to improve the overall guest
experience, target more profitable customers and increase
revenue.  In line with our strategic objectives, we will build
our brands around our customers, and create experiences for our
guests based upon what is important to them."

               About Isle of Capri Casinos Inc.

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% 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.


ISLE OF CAPRI: S&P Puts BB- Credit Rating Under Negative Watch
--------------------------------------------------------------
Standard & Poor's Ratings Service placed its ratings for Isle of
Capri Casinos Inc., including the 'BB-' corporate credit rating,
on CreditWatch with negative implications.

"The CreditWatch listing follows a slower-than-expected ramp up
at the company's Pompano Park, Waterloo, and Coventry
properties, as well as continued EBITDA declines at several of
the company's other facilities, including all of those in
Mississippi and Louisiana," said Standard & Poor's credit
analyst Ariel Silverberg.  "As a result, credit measures are not
likely to improve over the intermediate term to the extent that
we previously had expected.  Credit measures are currently very
weak for the rating."

For the first nine months of fiscal 2008 (ending Jan. 27, 2008),
property level EBITDA was up 1.1%, primarily due to
contributions from properties opened in the first quarter of
2008.  When comparing only those properties in operation for the
full nine month period in both 2007 and 2008, property level
EBITDA was down 8.6%, primarily as a result of significant
declines in Mississippi, partially mitigated by EBITDA
improvements in Black Hawk.  S&P expects these properties will
continue to be challenged over the intermediate term given the
softness in the U.S. Economy, which has resulted in revenue
declines in several of the markets in which Isle operates.

In resolving the CreditWatch listing, S&P will discuss with new
management its plans associated with managing expenses and
driving future revenue growth.  S&P notes that this management
team has had success in turning around other challenged gaming
companies.  Other factors that will be considered in S&P's
review are Isle's financial strategies and its intermediate
liquidity position.


NEXUS UNITY: Claims Filing Period Ends March 26
-----------------------------------------------
Creditors of Nexus Unity Ltd. have until March 26, 2008 to send
their names and addresses and particulars of their claims to:

         Matthew Colin Bowker and David Anthony Willis
         Joint Liquidators
         Tenon Recovery
         Lowgate House
         Lowgate
         Hull
         HU1 1EL
         England

Matthew Colin Bowker and David Anthony Willis of Tenon Recovery
were appointed joint liquidators of the company on Feb. 27 for
the creditors' voluntary winding-up proceeding.


MILLENNIUM STRUCTURES: GE Commercial Taps Deloitte as Receivers
---------------------------------------------------------------
GE Commercial Finance Ltd. appointed William Kenneth Dawson and
Ian Brown of Deloitte & Touche LLP joint administrative
receivers of Millennium Structures Ltd. (Company Number
03519727) on Feb. 29, 2008.

Deloitte & Touche LLP -- http://www.deloitte.com/-- provides
audit, tax, consulting and corporate finance services through
more than 9,000 people in 21 locations.  The group is the United
Kingdom member firm of Deloitte Touche Tohmatsu, a Swiss Verein
whose member firms are separate and independent legal entities.

The company can be reached at:

          Millennium Structures Ltd.
          Coach Fold Works
          Haley Hill
          Halifax
          West Yorkshire
          HX3 6ED
          England
          Tel: (0845) 2304450
          Fax: (0871) 2500450
          Web site: http://www.msl-ltd.co.uk/


PETROLEOS DE VENEZUELA: Gets OPEC'S Support in Exxon Conflict
-------------------------------------------------------------
The Organization of Petroleum Exporting Countries told Thomson
Financial that will support Venezuela in the legal dispute
between Petroleos de Venezuela SA and Exxon Mobil Corp.

As previously reported, the Venezuelan government asked OPEC to
discuss during a March 5 meeting Exxon Mobil's seeking of asset
freeze court order against Petroleos de Venezuela.  Exxon Mobil
asked the London High Court to uphold the order freezing
US$12 billion in Petroleos de Venezuela's assets to support the
arbitration process between both parties.  The asset-freeze
order against Petroleos de Venezuela was made so that Exxon
Mobil Corp. would be able to extract compensation should it win
a pending arbitration.  Petroleos de Venezuela has appealed the
asset-freeze order.  Petroleos de Venezuela contends that the
U.K. court doesn't have the authority to award the injunction
because the case involved U.S. and Venezuelan firms.

According to news agency EFE, Exxon Mobil didn't explain why it
is seeking to freeze Petroleos de Venezuela's assets when the
U.S. giant is demanding compensation of no more than US$5
billion.

OPEC told Thomson Financial that its members unanimously agreed
at its production meeting to support Venezuela.

EFE relates that Samuel Moncada, Venezuela's ambassador to
Britain, thanked OPEC for the support.  "It seems very important
to us that the world's organization of producing countries of
petroleum learned of the situation and of the potential danger
that this has for themselves.  Other petroleum exporting
countries are taking account of the dangerous situation in that
Exxon, with this type of aggressive action, can put them in
foreign courts," Ambassador Moncada told EFE.

Ambassador Moncada said in a statement, "The conference
expressed its support to the Bolivarian Republic of Venezuela
and Petroleos de Venezuela SA, in the exercise of its sovereign
rights over its natural resources, in accordance with
international law.  The Conference called for resolving any such
disputes through good faith and amicable negotiations."

EFE notes that Ambassador Moncada is confident that bilateral
relations with Britain wouldn't be affected by the Petroleos de
Venezuela-Exxon Mobil dispute.  Ambassador Moncada told EFE that
he hoped that "reason prevails in this case and the limits of
national jurisdiction remain where they are now, in the national
territories."  "We're surprised by this cunning and unexpected
attack because when the decision was made neither the PDVSA
[Petroleos de Venezuela] nor the (Venezuelan) nation was
informed.  We were surprised by an order to freeze assets in an
English court when we had not the slightest idea of why that
could occur here.  This is not a private case. This is a case
where a nation is involved."

El Universal relates that British deputies that included three
Labor Party representatives and members of the parliamentarian
group Friends of Venezuela, one Welsh nationalist, and a Green
Party representative led a protest against Exxon Mobil outside
the London High Court.

According to EFE, the protesters claimed that Exxon Mobil's
lawsuit against Petroleos de Venezuela has "a political
motivation."

Parliamentarian group Friends of Venezuela's chairperson Colin
Burgon told El Universal, "We are really concerned about the
fact that a multinational corporation such as Exxon is trying to
threaten the sovereignty of the Venezuelan State" to dispose of
its natural resources.

                  About Petroleos de Venezuela

Petroleos de Venezuela SA -- http://www.pdv.com/-- is
Venezuela's state oil company in charge of the development of
the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the
operational activities of its divisions, both in Venezuela and
abroad.  The company has a commercial office in China.  The
company also has offices in London and Holland.

RUHR OEL GMBH, a German refinery in 50% run by PDVSA.   The
company has a one million-barrel refining capacity per day, of
which around 250,000 belong to the Venezuelan corporation.  The
company also provides the German market with 20% of its by-
products and petrochemicals needs.

PDVSA runs 50 % of this company in association with Veba Oel,
which has four refineries, that makes it the biggest company
refining oil products in Germany. It has a one million-barrel
refining capacity per day, of which around 250,000 belong to the
Venezuelan corporation.  Besides this, RUHR OEL GMBH provides
the German market with 20% of its by-products and petrochemicals
needs.

PDVSA and the Finnish Neste Corporation are partners, with a
share 50% each of the corporation AB NYNAS PETROLEUM, which runs
refineries in Sweden, Belgium and The United Kingdom.

                          *     *     *

To date, Petroleos de Venezuela SA carries Fitch's BB- long term
issuer default rating and local currency long term issuer
default rating.  Fitch said the ratings outlook was negative.


PROTEA PRODUCTS: Brings In Administrators from Vantis
-----------------------------------------------------
J.S. French and G. Mummery of Vantis Business Recovery Services
were appointed joint administrators of Protea Products Ltd.
(Company Number 03892159) on March 3, 2008.

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

The company can be reached at:

         Protea Products Ltd.
         43 Bridge Road
         Grays
         Essex
         RM17 6BU
         England
         Tel: 0845 644 6561
         Fax: 0845 644 6562


PSP SAFETY: Calls In Liquidators from Moore Stephens
----------------------------------------------------
Nigel Price and Mark Elijah Thomas Bowen of Moore Stephens LLP
were appointed joint liquidators of PSP Safety Products Ltd. on
Dec. 17, 2007 for the creditors' voluntary winding-up
proceeding.

The joint liquidators can be reached at:

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


SMART BUILD: Taps Liquidators from Vantis Business Recovery
-----------------------------------------------------------
Vincent John Green and Mark Newman of Vantis Business Recovery
Services were appointed joint liquidators of on for the
creditors' voluntary winding-up procedure proceeding.

The joint liquidators can be reached at:

         Vantis Business Recovery Services
         Judd House
         16 East Street
         Tonbridge
         Kent
         TN9 1HG
         England


TRIBUTE THIRD: Taps Joint Administrators from David Rubin
---------------------------------------------------------
Paul Appleton and Henry Lan of David Rubin & Partners were
appointed joint administrators of Tribute Third Millennium Ltd.
(Company Number 3566052) on Feb. 29, 2008.

David Rubin & Partners -- http://www.drpartners.com/--
specializes in corporate and personal insolvency, recovery,
forensic accounting and litigation support.

The company can be reached at:

          Tribute Third Millennium Ltd.
          19 Church Road
          Barnes
          London
          SW13 9HE
          England
          Tel: 02089396464


VAN AAKEN: Creditors' Meeting Slated for March 18
-------------------------------------------------
Creditors of Van Aaken Developments Ltd. (Company Number
2740069) will meet at 10:00 a.m. on March 18, 2008 at:

         Tenon Recovery
         Sherlock House
         73 Baker Street
         London
         W1U 6RD
         England

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims at noon on March 17, 2008 at:

         T.J. Binyon
         Joint Administrator
         Tenon Recovery
         Sherlock House
         73 Baker Street
         London
         W1U 6RD
         England

Tenon Recovery -- http://www.tenongroup.com/-- provides
accounting and business advice to owner-managed and private
business.


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

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


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


CYPRUS
------
Cyprus Airways            CAIR       (30)         262      (97)


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


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

FRANCE
------
Arbel                     ARB       (150)         138      (96)
Banque Nationale
   de Paris Guyane        BNPG       (41)         352      N.A.
BSN Glasspack                       (101)       1,151      179
Charbo De France                  (3,872)       4,738   (2,868)
Euro Computer System                (110)         682      377
Grande Paroisse S.A.                (927)         629      330
Immob Hoteliere                      (67)         301      (13)
Matussiere et Forest S.A. MTF        (78)         294      (28)
Outremer Telecom          OMT        (33)         229      (88)
Pagesjaunes GRP           PAJ     (2,718)       1,121     (291)
Pneumatiques Kleber S.A.             (34)         480      139
SDR Centrest                        (132)         252      N.A.
SDR Picardie                        (135)         413      N.A.
Soderag                               (3)         404      N.A.
Sofal S.A.                          (305)       6,619      N.A.
Spie-Batignolles                     (16)       5,281       75
Selcodis S.A.             SPVX       (18)         128      (22)
Trouvay Cauvin                        (0)         134       10
Usines Chausson                      (23)         249       35


GERMANY
-------
Babcock Borsig            BBX      (1608)         137   (1,309)
CBB Holding AG            COB        (43)         905      N.A.
Cinemaxx AG               MXC        (27)         177      (30)
Cognis Deutschland
   GmbH & Co. KG                    (174)       3,003      606
Dortmunder
   Actien-Brauerei        DABG       (13)         118      (29)
EM.TV AG                  EV4G.BE    (22)         849       15
F.A. Guenther & Son AG    GUSG       (10)         111      N.A.
Kabel Deutschland                 (1,199)        2280     (306)
Kaufring AG               KAUG       (19)         151      (51)
Maternus Kliniken AG      MAK.F       (4)         201      (20)
Nordsee AG                            (8)         195      (31)
Schaltbau Hold            SLTG       (13)         185        3
SinnLeffers AG            WHGG        (4)         454     (145)
Spar Handels- AG          SPAG      (442)       1,433     (234)

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

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

IRELAND
-------
Elan Corp PLC             ELN      (235)         171       459
Waterford Wed Ut          WTFU     (145)         897       208


ITALY
-----
A.S. Roma S.p.A.          ASR        (12)         188      (49)
Binda S.p.A.              BND        (11)         129      (20)
Cirio Finanziaria S.p.A.            (422)       1,583     (396)
Gruppo Coin S.p.A.        GC        (154)         801      (50)
Compagnia Italia          ICT       (138)         527     (235)
Credito Fondiario
   e Industriale S.p.A.             (200)       4,218      N.A.
Finpart S.p.A.                      (152)         732     (322)
I Viaggi del
   Ventaglio S.p.A.       VVE        (64)         529      (88)
Lazio S.p.A.              SSL        (32)         254      (33)
Olcese S.p.A.             OLCI.MI    (13)         180      (64)
Parmalat Finanziaria
   S.p.A.                        (18,419)       4,121  (12,481)
Snia S.p.A.               SN         (39)         275       36
Technodiffusione
   Italia S.p.A.          TDIFF.PK   (90)         152      (24)


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


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


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


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


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


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


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


UNITED KINGDOM
--------------
Abbott Mead Vickers                   (2)         168      (16)
Alldays Plc                         (120)         252     (202)
Amey Plc                  AMY        (49)         932      (47)
Atkins (WS) Plc           ATK       (150)       1,390       62
BCH Group Plc             BCH         (6)         188      (44)
Blenheim Group            BEH       (153)         198      (34)
Booker Plc                BKRUY      (60)       1,298       (8)
Bradstock Group           BDK         (2)         269        5
Brent Walker Group        BWL     (1,774)         867   (1,157)
British Energy Ltd                (5,823)       4,921      290
British Energy Plc        BGY     (5,823)       4,921      434
British Nuclear
   Fuels Plc                      (4,248)      40,326      977
Carlisle Group                       (12)         204       15
Compass Group             CPG       (668)       2,972     (298)
Costain Group             COST      (108)         595      (61)
Dowson Holding            DWN        (18)         226       31
Dignity Plc               DTY        (55)         552       36
Easybroker PLC                        (1)         287       (1)
Easynet Group             ESY.L      (45)         323       38
Electrical and Music
   Industries Group       EMI     (2,266)       2,950     (296)
Galiform Plc              GFRM      (152)         889       35
Global Green Tech Group             (156)         408      (18)
Heath Lambert
   Fenchurch Group Plc               (10)       4,109      (10)
HMV Group Plc             HMV        (26)       1,273     (277)
Imperial Chemical
   Industries Plc         ICI       (370)       8,393        2
Invensys PLC                        (276)       3,914      357
Jarvis Plc                JRVS.L     (28)         370      (22)
Ladbrokes Plc             LAD     (1,227)       1,669     (267)
Lambert Fenchurch Group               (1)       1,827        3
London and Overs                  (1,507)         397      N.A.
London Stock Exchange     LSE       (689)         526     (195)
M 2003 Plc                        (2,204)       7,205     (756)
Misys Plc                 MSY         (7)       1,123     (131)
Mytravel Group            MT.L      (380)       1,818     (488)
Orange Plc                ORNGF     (594)       2,902        7
Pii Group Ltd                        (84)         236      (47)
Regus Plc                 RGU.L      (46)         367      (60)
Rentokil Initial Plc      RTO     (1,044)       3,507     (457)
Saatchi & Saatchi         SSI       (119)         705      (41)
SFI Group                 SUF       (108)         178     (162)
Skyepharma PLC            SKP        (95)         211        2
Spirit Group                         (75)         365      (56)
Telereal Security                    (35)       3,418     1,948
Telewest
   Communications Plc     TLWT    (3,702)       7,581   (5,631)
Trio Finance              TRIO       (14)         592      N.A.
Unilever U.K. Cent.               (1,170)       4,509       82
Upperpoint Manufac.                  (10)         280      (10)
Webley Stadium                       (55)       1,561      (45)
Wincanton Plc             WIN        (27)       1,451      (78)

                            *********

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

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

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

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

                            *********


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

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


                 * * * End of Transmission * * *