T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Thursday, April 17, 2008, Vol. 9, No. 76 Headlines A U S T R I A EK ROOF: Claims Registration Period Ends April 30 GOETZINGER GESTALTUNG: Creditors' Meeting Slated for April 23 HOLIDAY-SHUTTLE: Creditors' Meeting Slated for April 21 IMMOBILIARES LIEGENSCHAFT: Claims Registration Ends April 30 KOVACEVIC LLC: Claims Registration Period Ends May 5 LBB SPORTWETTEN: Creditors' Meeting Slated for April 18 B E L G I U M SOLUTIA INC: Settlement Pact with Solvay Gets Court Approval TEKNI-PLEX INC: Inks Restructuring Pact with Key Stakeholders F R A N C E GECINA SA: S&P Lowers Ratings on Senior Unsecured Debt to BB+ LAZARD GROUP: Moody's Reaffirms Positive Outlook on Ba1 Rating G E R M A N Y CALDERON BAUTEN: Creditors' Meeting Slated for April 22 CASH-TEX GMBH: Creditors' Meeting Slated for April 22 COLETTE BOGENSTRASSE: Claims Registration Period Ends May 7 DUDENSTRASSE 6 VERWALTUNGS: Claims Registration Ends May 8 GENERATECH GMBH: Claims Registration Period Ends May 7 GESELLSCHAFT FUER INGENIEUR-UND: Claims Filing Period Ends May 7 HANSE-REISEN GMBH: Claims Registration Period Ends May 7 HORST KOCH: Claims Registration Period Ends May 6 HSK GMBH: Claims Registration Period Ends May 8 HUETTENTECHNOLOGIE EWERT: Claims Registration Period Ends May 7 INEFA NEUE: Creditors Must File Claims by May 15 ITALIANO GASTRONOMIE: Claims Registration Period Ends May 8 KAMPUS CONSULTING: Claims Registration Period Ends May 5 KARL MOERSCHEL: Creditors Must File Claims by May 15 LUDWIG JAHN: Claims Registration Period Ends May 8 MARKISCHE AUTOMOBIL: Creditors Must File Claims by May 15 MASSAM PRODUKTENTWICKLUNGS: Claims Registration Ends May 5 MOSAIC SOFTWARE: Illiquidity Spurs Insolvency Filing MR.CLEAN GMBH: Claims Registration Period Ends May 5 MSX INTERNATIONAL: S&P Lifts Rating on US$205 Mln Notes to B- NORDUFER GMBH: Claims Registration Ends May 8 NORDUFER VERWALTUNGS: Creditors Must File Claims by May 15 OBERDICK GMBH: Claims Registration Period Ends April 30 ODS BUSINESS: Claims Registration Period Ends May 5 PLANTAFLOR BLUMENVERMARKTUNG: Creditors' Claims Due May 15 PUELLMANN GMBH: Claims Registration Ends May 8 ROBERT KLETA: Claims Registration Period Ends May 5 ROELING SYSTEM: Claims Registration Period Ends May 5 ROLF HACHMEISTER: Claims Registration Period Ends May 7 RUEDIGER FALTZ: Claims Registration Period Ends May 7 S + W INGENIEURGESELLSCHAFT: Claims Registration Ends May 5 SCHLUETER-BAUR: Claims Registration Period Ends May 7 SCHUERING-BETON GMBH: Claims Registration Period Ends April 23 SCHULDNERS TH: Claims Registration Ends May 7 SOMMER GMBH: Creditors Must File Claims by May 15 SOUND-FARM GMBH: Creditors Must File Claims by May 15 TAUCH GESELLSCHAFT: Claims Registration Period Ends May 5 TRANS-& CARSERVICE: Creditors Must File Claims by May 15 UMWELT TIEFBAU: Creditors Must File Claims by May 15 W & A SERVICE: Claims Registration Ends May 17 WOLFF-REISEN GMBH: Claims Registration Period Ends May 6 I T A L Y BROWN SHOE: Earns US$60.4 Million In FY Ended February 2, 2008 BROWN SHOE: Operating Challenges Prompt S&P's Negative Outlook PARMALAT SPA: New Jersey Judge Dismisses Most Claims v Citigroup K A Z A K H S T A N AS-POLIMEHTRANS LLP: Creditors Must File Claims by June 3 ASTANA ENGINEERING: Claims Deadline Slated for June 4 BTA BANK: Names Chingiz Aitmatov as Independent Board Director ECO-TEXT-T LLP: Claims Filing Period Ends June 3 GERKULES LTD: Creditors' Claims Due on June 2 MAI BUSINESS: Creditors Must File Claims by June 2 PAVLODAR STROY: Claims Deadline Slated for June 2 SIGNAL-SERVICE CJSC: Claims Filing Period Ends June 2 TEMIRA LLP: Creditors' Claims Due on June 3 UJTRUBOPROVOD STROY: Claims Registration Ends June 2 K Y R G Y Z S T A N OMURALY LLC: Creditors Must File Claims by May 20 R U S S I A BAYKALSKAYA MEAT: Buryatiya Bankruptcy Hearing Slated for May 14 CB RENAISSANCE: Fitch Puts BB(rus) Rating on Series 02 Bonds DORMASHINA CJSC: Orel Bankruptcy Hearing Slated for June 11 GOLDEN MEADOW: Orel Bankruptcy Hearing Slated for June 11 INTREIS-AVTO CJSC: Moscow Bankruptcy Hearing Slated for June 24 KISELEVSKIY BAKERY: Asset Sale Slated for April 25 STROY-COM PLUS: Yaroslavl Bankruptcy Hearing Slated for May 13 TAMBOV-RAJ-AGRO-PROM-SNAB: Tambov Bankruptcy Hearing Set June 23 S P A I N FONDO DE TITULIZACION: Fitch Holds BB+ Rating on Class D Notes S W I T Z E R L A N D AGNEW JSC: Creditors' Liquidation Claims Due by May 1 CARRIER-LINK: Creditors' Liquidation Claims Due by May 1 ERHABENZ LLC: Creditors' Liquidation Claims Due by May 5 IDESSAG JSC: Creditors' Liquidation Claims Due by May 3 INNOPLAN & PARTNER: Aargau Court Starts Bankruptcy Proceedings ROSENDO LLC: Basel-Country Court Closes Bankruptcy Proceedings ROTATEC INTERNATIONAL: Creditors Must File Claims by May 2 SEEPEOPLE LLC: Creditors' Liquidation Claims Due by May 2 SWIGIPS LLC: Aargau Court Starts Bankruptcy Proceedings U K R A I N E AGAT INTEKS: Creditors Must File Claims by April 30 ALPHA-ODIS LLC: Creditors Must File Claims by April 30 ARTEMOVSK PLANT Proofs of Claim Deadline Set April 30 GREEN LEAF: Proofs of Claim Deadline Set April 30 SG TRADE: Proofs of Claim Deadline Set April 30 U N I T E D K I N G D O M ABBOT GROUP: S&P Assigns B+ Corporate Credit Rating BAA LTD: British Airways Long-Haul Move to T5 Deferred to June BAA LTD: Abides by CAA Price Limits Despite Easyjet Legal Threat BAA LTD: EasyJet and Rynaair to Withhold Part of Landing Fees BRITISH ENERGY: Iberdola Takeover Bid Unlikely, Report Says BRITISH AIRWAYS: Defers Long-Haul Move to Terminal Five to June CARTER AND CARTER: Sells Apprentice Learning Division to RMIF DATA TEKNOLOGIES: Brings In Liquidators from Mazars DGM PROPERTIES: Taps Ernst & Young As Administrative Receivers EMI GROUP: Citigroup Cancels Sale of US$4.9BB Company Loans EMI GROUP: Nick Gatfield Named as North America & UK Head ERINACEOUS MANAGED: Names Richard Hill as Administrator ETHEL AUSTIN: Brings In Joint Administrators from Menzies FORD MOTOR: Sells ACH Glass Business and Mexican Subsidiary GAME WORLD: Claims Filing Period Ends July 8 MONTPELIER RE: Francis Lockwood to Lead US Firm Underwriting OSSIAN RETAIL: Set to File for Administration QUEBECOR WORLD: Seeks Approval to Hire KPMG (US) as Tax Advisor QUEBECOR WORLD: Wants Ernst & Young as Tax Services Provider TURBO ALPHA: S&P Places Long-Term Rating at B+ * Upcoming Meetings, Conferences and Seminars ********* ============= A U S T R I A ============= EK ROOF: Claims Registration Period Ends April 30 ------------------------------------------------- Creditors owed money by LLC EK Roof Dachservice (FN 274585b) have until April 30, 2008, to file written proofs of claim to court-appointed estate administrator Wolfgang Leitner at: Dr. Wolfgang Leitner c/o Dr. Helmut Platzgummer Kohlmarkt 14 1010 Vienna Austria Tel: 533 19 39 Serie E-mail: kanzlei@lp-law.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:30 a.m. on May 15, 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 March 12, 2008 (Bankr. Case No. 2 S 32/08f). Helmut Platzgummer represents Dr. Leitner in the bankruptcy proceedings. GOETZINGER GESTALTUNG: Creditors' Meeting Slated for April 23 ------------------------------------------------------------- Creditors owed money by LLC Goetzinger Gestaltung fuer Haus und Garten (FN 269154s) are encouraged to attend the creditors' meeting at 10:30 a.m. on April 23, 2008. The creditors' meeting will be held at: The Land Court of Korneuburg Room 204 Second Floor Korneuburg Austria Headquartered in Goellersdorf, Austria, the Debtor declared bankruptcy on March 12, 2008 (36 S 28/08x). Karl F. Engelhart serves as the court-appointed estate administrator of the bankrupt's estate. The estate administrator can be reached at: Dr. Karl F. Engelhart c/o Dr. Thomas Engelhart Esteplatz 4 1030 Wien Austria Tel: 01/712 33 30-0 Fax: 01/712 33 30 30 E-mail: kanzlei@engelhart.at HOLIDAY-SHUTTLE: Creditors' Meeting Slated for April 21 ------------------------------------------------------- Creditors owed money by LLC Holiday-Shuttle & Co Kg (FN 36965k) are encouraged to attend the creditors' meeting at 9:00 on April 21, 2008. The creditors' meeting will be held at: The Land Court of Klagenfurt Meeting Room 225 Second Floor Klagenfurt Austria Headquartered in Villach, Austria, the Debtor declared bankruptcy on March 12, 2008 (41 S 20/08a). Joachim Bucher serves as the court-appointed estate administrator of the bankrupt's estate. The estate administrator can be reached at: Dr. Joachim Bucher Italienerstrasse 13/5 9500 Villach Austria Tel: 04242/29992 Fax: 04242/27666 E-mail: office@abp-law.com IMMOBILIARES LIEGENSCHAFT: Claims Registration Ends April 30 ------------------------------------------------------------ Creditors owed money by LLC Immobiliares Liegenschaft-Verwertung (FN 267523t) have until April 30, 2008, to file written proofs of claim to court-appointed estate administrator Clemens Richter at: Mag. Clemens Richter c/o Dr. Thomas Engelhart Esteplatz 4 1030 Vienna Austria Tel: 712 33 30 E-mail: kanzlei@engelhart.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 11:10 a.m. on May 14, 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 March 12, 2008 (Bankr. Case No. 2 S 31/08h). Thomas Engelhart represents Dr. Richter in the bankruptcy proceedings. KOVACEVIC LLC: Claims Registration Period Ends May 5 ---------------------------------------------------- Creditors owed money by LLC Kovacevic (FN 259655x) have until May 5, 2008, to file written proofs of claim to court-appointed estate administrator Reinhold Zeinhofer at: Dr. Reinhold Zeinhofer Hofgasse 9 4020 Linz Austria Tel: 0732/77 88 98 Fax: 0732/77 88 98 99 E-mail: zs@anwaltskanzlei.co.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:00 a.m. on May 19, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Linz Room 522 Fifth Floor Linz Austria Headquartered in Ansfelden, Austria, the Debtor declared bankruptcy on March 12, 2008 (Bankr. Case No. 12 S 85/07y). LBB SPORTWETTEN: Creditors' Meeting Slated for April 18 ------------------------------------------------------- Creditors owed money by LLC Lbb Sportwetten (FN 251109d) are encouraged to attend the creditors' meeting at 10:30 a.m. on April 18, 2008 . The creditors' meeting will be held at: The Land Court of Klagenfurt Meeting Room 225 Second Floor Klagenfurt Austria Headquartered in Klagenfurt, Austria, the Debtor declared bankruptcy on March 12, 2008 (40 S 13/08i). Thomas Di Vora serves as the court-appointed estate administrator of the bankrupt's estate. The estate administrator can be reached at: Mag. Thomas Di Vora Lendgasse 3 9020 Klagenfurt Austria Tel: 0463/50 28 20 Fax: 0463/502820-12 E-mail: rechtsanwalt.mag.divora@aon.at ============= B E L G I U M ============= SOLUTIA INC: Settlement Pact with Solvay Gets Court Approval ------------------------------------------------------------ Solutia Inc., and Solvay Advanced Polymers LLC, are parties to a certain purchase agreement, dated Sept. 1, 2002, as amended, pursuant to which Solvay purchased adipic acid and hexamethylenediamine from Solutia. Solutia relates that the Purchase Agreement, and its amendments, is still in full force and effect with respect to the purchase of adipic acid. On Jan. 1, 2007, Solutia and Solvay entered into a new purchase agreement for the purchase of HMDA only. Solvay owes US$65,399 under the HMDA Agreement. The exhibits attached to the Debtors' Fifth Amended Joint Plan of Reorganization listed the Purchase Agreement as part of the executory contracts to be assumed. The Plan also provided that entry of an order confirming the Plan would constitute approval of the assumption of the Purchase Agreement, except as to any unresolved cure objections. The Plan was confirmed Nov. 29, 2007. Settlement Agreement Approved by Court On Nov. 9, 2007, Solutia sent Solvay a notice to assume the Purchase Agreement with a proposed cure amount of US$0. Solvay objected and asserted a postpetition cure amount of US$335,718. Solutia and Solvay have engaged in good-faith, arm's-length negotiations in an attempt to resolve the dispute. Judge Beatty has approved the parties' stipulation, which provides that: * The cure amount due under the Purchase Agreement is US$335,718; * Solvay and Solutia will amend the Purchase Agreement; * Solvay owes US$65,399 to Solutia. That amount will be set off the Cure Amount owed by Solutia, leaving a net balance of US$270,319 owed by Solutia to Solvay; * Upon payment of the Net Cure Amount, the parties will exchange releases of claims in connection with th assumption of the Purchase Agreement; and * Upon payment of the Net Cure Claim, Solutia will have been (i) deemed to satisfy all claims that may have been asserted by Solvay, and (ii) paid by Solvay in full for any amounts due under the HMDA Agreement for the period Jan. 1, 2007, through Dec. 1, 2007. About Solutia Inc. Based in St. Louis, Missouri, Solutia Inc. (OTCBB:SOLUQ) -- http://www.solutia.com/-- and its subsidiaries, engage in the manufacture and sale of chemical-based materials, which are used in consumer and industrial applications worldwide. Solutia has operations in Malaysia, China, Singapore, Belgium, and Colombia. The company and 15 debtor-affiliates filed for chapter 11 protection on Dec. 17, 2003 (Bankr. S.D.N.Y. Case No. 03-17949). When the Debtors filed for protection from their creditors, they listed US$2,854,000,000 in assets and US$3,223,000,000 in debts. Solutia is represented by Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP, in New York, as lead bankruptcy counsel, and David A. Warfield, Esq., and Laura Toledo, Esq., at Blackwell Sanders LLP, in St. Louis Missouri, as special counsel. Trumbull Group LLC is the Debtor's claims and noticing agent. Daniel H. Golden, Esq., Ira S. Dizengoff, Esq., and Russel J. Reid, Esq., at Akin Gump Strauss Hauer & Feld LLP represent the Official Committee of Unsecured Creditors, and Derron S. Slonecker at Houlihan Lokey Howard & Zukin Capital provides the Creditors' Committee with financial advice. The Official Committee of Retirees of Solutia, Inc., et al., is represented by Daniel D. Doyle, Esq., Nicholas A. Franke, Esq., and David M. Brown, Esq., at Spencer Fane Britt & Browne, LLP, in St. Louis, Missouri, and Frank M. Young, Esq., Thomas E. Reynolds, Esq., R. Scott Williams, Esq., at Haskell Slaughter Young & Rediker, LLC, in Birmingham, Alabama. On Feb. 14, 2006, the Debtors filed their Reorganization Plan & Disclosure Statement. On May 15, 2007, they filed an Amended Reorganization Plan and on July 9, 2007, filed a 2nd Amended Reorganization Plan. The Bankruptcy Court approved the Debtors' amended Disclosure Statement on Oct. 19, 2007. On Oct. 22, 2007, the Debtor re-filed a Consensual Plan & Disclosure Statement and on Nov. 29, 2007, the Court confirmed the Debtors' Consensual Plan. (Solutia Bankruptcy News, Issue No. 118; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000). * * * As reported in the Troubled Company Reporter-Europe on March 3, 2008, Standard & Poor's Ratings Services raised its corporate credit rating on Solutia Inc. to 'B+' from 'D', following the company's emergence from bankruptcy on Feb. 28, 2008, and the implementation of its financing plan. The outlook is stable. S&P also affirmed its 'B+' rating and '3' recovery rating on Solutia's proposed senior secured term loan. In addition, S&P assigned its 'B-' rating to Solutia's US$400 million unsecured bridge loan facility. S&P also withdrew its 'B-' rating on the proposed US$400 million unsecured notes, which have been replaced by the bridge facility in Solutia's capital structure. TEKNI-PLEX INC: Inks Restructuring Pact with Key Stakeholders ------------------------------------------------------------- Tekni-Plex Inc. entered into a restructuring agreement with: (i) entities that have represented that they hold more than 91% of the company's 12.75% Senior Subordinated Notes Due 2010 and more than 67% of the company's 8.75% Senior Secured Notes due 2013, (ii) holders of a majority of the company's preferred stock, (iii) holders of 100% of its common stock, and (iv) Dr. F. Patrick Smith, Chairman, Chief Executive Officer and President of Tekni-Plex. The agreement memorializes the restructuring terms that were agreed to in principle by certain stakeholders on March 27, 2008. The restructuring agreement obligates each party to take actions reasonably necessary to negotiate, document and consummate the restructuring on the agreed-upon terms and conditions, which include: -- general unsecured creditors of Tekni-Plex, including trade creditors, will be unaffected by the restructuring, and the company intends to honor its obligations to those creditors in the ordinary course of business, -- the company will continue to honor its obligations under its US$110 million credit facility, its 10.875% Senior Secured Notes due 2012 and its Second Lien Notes, -- the company's existing common stock will be cancelled, redeemed or purchased, and each holder will receive its pro rata share of a cash distribution of US$250,000, -- the company's preferred stock will be exchanged or redeemed for three tranches of warrants to purchase 12.5% of the company at various exercise prices, -- holders of at least 95% of the Subordinated Notes will exchange their notes for 100% of the common stock of Tekni-Plex, subject to dilution by a management incentive plan and the exercise of the warrants, -- the obligations of the parties to consummate the restructuring is subject to certain conditions, such as: (a) obtaining consent to the restructuring from holders of not less than (i) 99.5% of the preferred stock, (ii) 100% of the common stock, (iii) 85% of the indirect interests in the common stock (based on unit holdings of the limited liability companies that hold the common stock) and (iv) 95% of the Subordinated Notes, (b) definitive documentation must be reasonably satisfactory to the parties, and (c) consummation of the restructuring must occur on or before May 13, 2008. Tekni-Plex intends to implement the restructuring by May 13, 2008, at which point, if the transactions are satisfactory to each of the lenders under the company's revolving credit facility, the maximum availability under the credit facility will be increased from US$95 million to US$110 million. There can be no assurance that the parties will be able to consummate the restructuring as contemplated by their agreement. Dr. F. Patrick Smith said: "The execution of this agreement represents a significant step towards the consummation of the company's restructuring, which will significantly deleverage our balance sheet and put the company in a strong financial position to operate and grow its businesses, many of which are leaders in the markets they serve. I once again applaud the efforts of those stakeholders who have demonstrated confidence in Tekni- Plex and have continued to work tirelessly towards the consummation of the restructuring. We fully intend to continue to meet our obligations to our customers and suppliers, and we appreciate their ongoing support." The restructuring will constitute a "Change in Control" under the Indenture governing the company's 10.875% Senor Secured Notes due 2012, which will require that the company make, after consummation of the restructuring, an offer to repurchase the First Lien Notes at a price of 101% plus accrued interest. The restructuring agreement provides that if the restructuring is consummated, certain holders of Subordinated Notes will provide a take-out facility or tender process to replace, redeem or repurchase, as necessary, First Lien Notes that are tendered in connection with the occurrence of the Change in Control. The restructuring will not constitute a Change of Control under the Indenture governing the Second Lien Notes or the Indenture governing the Subordinated Notes as a result of amendments and waivers (as described in the company's Form 8-K filed on Feb. 21, 2008). Agreement in Principle with Noteholders As reported in the Troubled Company Reporter on April 3, 2008, Tekni-Plex Inc. reached an agreement in principle among the holders of a majority of its 12.75% Senior Subordinated Notes Due 2010 and the holders of a majority of its preferred stock regarding the terms of a consensual out-of-court restructuring transaction, according to the company's regulatory filing with the Securities and Exchange Commission. The company also has entered into an extension, through May 13, 2008, of its Forbearance Agreement, dated as of Jan. 16, 2008, with entities that purportedly hold more than 91% of the Subordinated Notes and more than 64% of its 8.75% Senior Secured Notes due 2013. About Tekni-Plex Tekni-Plex, Inc. -- http://www.tekni-plex.com/-- manufactures packaging, packaging products and materials, as well as tubing products. The company primarily serves the food, healthcare and consumer markets. Tekni-Plex has operations in the United States, Canada, China, Argentina and Europe, through Tekni-Plex, Europe N.V. in Belgium. The company�s operations are aligned under two business segments: Packaging and Tubing Products. Representative product lines in the Packaging segment include foam egg cartons; pharmaceutical blister films; poultry and meat processor trays; closure liners; aerosol and pump packaging components; and foam plates. Representative product lines in the Tubing Products segment include garden and irrigation hose; medical tubing; and aeration hose. The company also manufactures other products that do not fit in either of these segments, including recycled PET, vinyl compounds and specialty resins. Tekni-Plex Inc.'s consolidated balance sheet at Dec. 28, 2007, showed US$605.7 million in total assets and US$1.01 billion in total liabilities, resulting in a US$403.4 million total stockholders' deficit. =========== F R A N C E =========== GECINA SA: S&P Lowers Ratings on Senior Unsecured Debt to BB+ ------------------------------------------------------------- Standard & Poor's Ratings Services lowered its ratings on all senior unsecured debt issued by French property company Gecina (BB+/Negative/B) to 'BB+' from 'BBB-', aligning them with the corporate credit rating on the group. At the same time, Standard & Poor's removed the 'BBB-' ratings on this debt from CreditWatch, where they had been placed with negative implications on July 28, 2006. S&P has also assigned a recovery rating of '3' to the senior unsecured EUR600 million and EUR500 million bonds, indicating our expectation of meaningful (50%-70%) recovery for the bondholders in the event of a payment default. Although the nominal recovery percentage is higher than the rating threshold, the recovery rating is capped according to our criteria for unsecured debt of issuers rated in the 'BB' category. The issue and recovery ratings on the bonds take into account weak bond documentation, significant bank debt, including secured lines, and France's relatively unfriendly insolvency regime for creditors. Partially mitigating factors are Gecina's high-quality assets and well-diversified tenant base. Recovery prospects are based on discrete asset valuation and exceed our specified percent range for the rating. We nevertheless cap the recovery rating at '3' to account for the unsecured nature of the bonds, the possibility of capital structure changes on the path to default inherent to issuers rated in the 'BB' category, and the relatively unfriendly jurisdiction for creditors in France. LAZARD GROUP: Moody's Reaffirms Positive Outlook on Ba1 Rating -------------------------------------------------------------- Moody's Investors Service reaffirmed its positive outlook on the Ba1 senior unsecured rating of Lazard Group LLC. The rating outlook was initially assigned on March 19, 2007. Notwithstanding the counter-cyclical nature of some of Lazard's revenue streams, Moody's will continue to assess the company's operating performance in coming quarters (and business pipeline going forward) to determine how Lazard's revenue model and expense flexibility perform in the current challenging market environment, the first significant market downturn faced by Lazard since its 2005 IPO and recapitalization. Management's intentions with respect to financial policy, including leverage, remain a critical rating factor. Since the ratings were assigned in 2005, the company has increased the aggregate amount of its outstanding debt by issuing in 2007 an additional $600 million of senior debt to fund acquisitions and increase available cash. Moody's will continue to monitor Lazard's progress towards achieving (and subsequently sustaining) debt leverage of 2.5x or less, a level that is more consistent with a rating in the Baa category. To the degree that revenues are constrained by an increasingly difficult macro environment, sustaining leverage at around 2.5x could pose a challenge for Lazard, though debt reduction would help in this regard. Moody's said that since initially rating Lazard in 2005, the firm has made a successful transition into a public company and has generated solid profitability. Moreover, since its IPO, Lazard has been successful at retaining and recruiting advisory professionals to its platform. Lazard's asset management business has also gained traction and is now generating increased levels of net new assets and has become a solid earnings contributor to the firm. The rating agency, however, expressed concern that the turmoil across global capital markets has led to a very challenging operating environment, with the prospect for revenue and earnings growth equally challenging. Though Lazard has not been burdened by the large asset concentrations and valuation write- downs born by the more capital-markets intensive firms, the company in 2008 must nonetheless demonstrate that it can profitably contend with some of the same global headwinds bearing down on the industry. Looking ahead, Moody's expects that industry M&A volumes over the next year- a major driver of Lazard's advisory revenue -- will come in significantly below the level generated in 2007. Given that much of the industry-wide volume decline is expected to be centered in sponsor-related transactions, Lazard should be relatively well positioned to compete for available advisory engagements, given the strength of the firm's relationships with strategic corporate buyers and sellers. Nevertheless, Lazard is not immune from an industry-wide contraction in M&A. Moody's also noted on the plus side that Lazard's restructuring practice is likely to benefit from a projected increase in corporate defaults, with the resultant restructuring revenue helping to partially offset a decline in M&A revenues. Lazard's much improved asset management business should continue generating a sustainable level of revenue, further reducing the likelihood of significantly negative earnings volatility. These ratings of Lazard Group LLC were affirmed with a positive outlook: -- US$600 million 6.85% Senior Notes due 6/15/2017 rated Ba1; -- US$550 million 7.125% Senior Notes due 5/15/2015 rated Ba1; -- US$287.5 million Senior Notes due 2035 associated with its Equity Securities Units also rated Ba1. Lazard is an international advisory and money management firm that reported earnings from continuing operations before minority interests of $337.7 million in 2007. The company has subsidiaries in France and the United Kingdom. ============= G E R M A N Y ============= CALDERON BAUTEN: Creditors' Meeting Slated for April 22 ------------------------------------------------------- The court-appointed insolvency manager for Calderon Bauten GmbH, Michael Hawelka will present his first report on the Company's insolvency proceedings at a creditors' meeting at 11:10 a.m. on April 22, 2008. The meeting of creditors and other interested parties will be held at: The District Court of Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin Germany The Court will also verify the claims set out in the insolvency manager's report at 11:00 a.m. on July 8, 2008 at the same venue. Creditors have until May 8, 2008 to register their claims with the court-appointed insolvency manager. The insolvency manager can be reached at: Michael Hawelka Friedrichstr. 204 10117 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Calderon Bauten GmbH on March 5, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Calderon Bauten GmbH Berliner Strasse 98 13189 Berlin Germany CASH-TEX GMBH: Creditors' Meeting Slated for April 22 ----------------------------------------------------- The court-appointed insolvency manager for Cash-Tex GmbH, Ruediger Wienberg will present his first report on the Company's insolvency proceedings at a creditors' meeting at 11:45 a.m. on April 22, 2008. The meeting of creditors and other interested parties will be held at: The District Court of Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin Germany The Court will also verify the claims set out in the insolvency manager's report at 11:05 a.m. on July 8, 2008 at the same venue. Creditors have until May 8, 2008 to register their claims with the court-appointed insolvency manager. The insolvency manager can be reached at: Ruediger Wienberg, Manager Giesebrechtstr. 1 10629 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Cash-Tex GmbH on March 5, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Cash-Tex GmbH Karl-Marx-Str. 144 12043 Berlin Germany COLETTE BOGENSTRASSE: Claims Registration Period Ends May 7 ----------------------------------------------------------- Creditors of Colette bogenstrasse GmbH have until May 7, 2008, to register their claims with court-appointed insolvency manager Stephan Michels. Creditors and other interested parties are encouraged to attend the meeting at 10:50 a.m. on May 28, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court Muenster Meeting Hall 101 B 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: Stephan Michels Ludgeristr. 54 48143 Muenster Germany Tel: 0251/162830 Fax: +492511628311 The District Court of Muenster opened bankruptcy proceedings against Colette bogenstrasse GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Colette bogenstrasse GmbH Bogenstrasse 15/16 48143 Muenster Germany Attn: Christel Stoeppel, Manager Raesfeldstrasse 14 48149 Muenster Germany DUDENSTRASSE 6 VERWALTUNGS: Claims Registration Ends May 8 ---------------------------------------------------------- Creditors of Dudenstrasse 6 Verwaltungs GmbH have until May 8, 2008 to register their claims with court-appointed insolvency manager Dr. Juergen Spliedt. Claims will be verified at 10:15 a.m. on July 3, 2008 at: The District Court of Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin Germany Creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Juergen Spliedt Uhlandstr. 165/166 10719 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Dudenstrasse 6 Verwaltungs GmbH on Feb. 11, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Dudenstrasse 6 Verwaltungs GmbH Marburger Str. 12/13 10789 Berlin Germany GENERATECH GMBH: Claims Registration Period Ends May 7 ------------------------------------------------------ Creditors of Generatech GmbH have until May 7, 2008, to register their claims with court-appointed insolvency manager Frank Raff. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on June 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 Esslingen Festival Hall Quadrium Convention Center Kirchheimer Str. 68 73249 Wernau 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: Frank Raff Heilbronner Str. 86 70191 Stuttgart Germany Tel: 0711/259729-0 Fax: 0711/259729-999 The District Court of Esslingen opened bankruptcy proceedings against Generatech GmbH on March 26, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Generatech GmbH Attn: Prof. Dr. Klaus Bichler, Manager May-bachstr. 1 72636 Frickenhausen Germany GESELLSCHAFT FUER INGENIEUR-UND: Claims Filing Period Ends May 7 ---------------------------------------------------------------- Creditors of Gesellschaft fuer Ingenieur-und Dienstleistungen im Bauwesen mbH have until May 7, 2008, to register their claims with court-appointed insolvency manager Carl-Heinrich Klek. Creditors and other interested parties are encouraged to attend the meeting at 9:20 a.m. on May 28, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Offenbach am Main Hall 162N First Floor Kaiserstrasse 63065 Offenbach am Main Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Carl-Heinrich Klek Berliner Str. 2D 63065 Offenbach am Main Germany Tel: 069/8290000 Fax: 810403 E-mail: klek@klek-offenbach.de The District Court of Offenbach am Main opened bankruptcy proceedings against Gesellschaft fuer Ingenieur-und Dienstleistungen im Bauwesen mbH on March 17, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Gesellschaft fuer Ingenieur-und Dienstleistungen im Bauwesen mbH Nordweststrasse 48 63128 Dietzenbach Germany HANSE-REISEN GMBH: Claims Registration Period Ends May 7 -------------------------------------------------------- Creditors of Hanse-Reisen GmbH have until May 7, 2008, to register their claims with court-appointed insolvency manager Dr. Tjark Thies. Creditors and other interested parties are encouraged to attend the meeting at 11:10 a.m. on June 4, 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: Dr. Tjark Thies Domstrasse 15 20095 Hamburg Germany The District Court of Hamburg opened bankruptcy proceedings against Hanse-Reisen GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Hanse-Reisen GmbH Alte Holstenstrasse 30 21031 Hamburg Germany HORST KOCH: Claims Registration Period Ends May 6 ------------------------------------------------- Creditors of Horst Koch GmbH Bauunternehmung have until May 6, 2008, to register their claims with court-appointed insolvency manager Dr. Rainer Maus. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on June 5, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Wuppertal Meeting Room A234 Second Floor Isle 2 42103 Wuppertal Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Rainer Maus Turmhof 15 42103 Wuppertal Germany Tel: 0202/49 37 00 Fax: 0202/4937099 The District Court of Wuppertal opened bankruptcy proceedings against Horst Koch GmbH Bauunternehmung on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Horst Koch GmbH Bauunternehmung Attn: Marcus Koch, Manager Ehrenberger Strasse 37 42389 Wuppertal Germany HSK GMBH: Claims Registration Period Ends May 8 ----------------------------------------------- Creditors of HSK GmbH have until May 8, 2008, to register their claims with court-appointed insolvency manager Sven Krueger. Creditors and other interested parties are encouraged to attend the meeting at 9:20 a.m. on May 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 Luebeck Hall 256 Am Burgfeld 7 23568 Luebeck 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: Sven Krueger Roeckstr. 40 23568 Luebeck Germany The District Court of Luebeck opened bankruptcy proceedings against HSK GmbH on March 28, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: HSK GmbH Heizung-Sanitar-Klima Paulstrasse 2 23568 Luebeck Germany HUETTENTECHNOLOGIE EWERT: Claims Registration Period Ends May 7 --------------------------------------------------------------- Creditors of Huettentechnologie Ewert GmbH have until May 7, 2008, to register their claims with court-appointed insolvency manager Stephan Neubauer. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on June 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 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: Stephan Neubauer Spitalerstrasse 4 20095 Hamburg Germany The District Court of Hamburg opened bankruptcy proceedings against Huettentechnologie Ewert GmbH on March 19, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Huettentechnologie Ewert GmbH Lotsestieg 6 21079 Hamburg Germany INEFA NEUE: Creditors Must File Claims by May 15 ------------------------------------------------ Creditors of Inefa Neue Kunststoffe GmbH have until May 15, 2008, to register their claims with court-appointed insolvency manager Berthold Riering. Creditors and other interested parties are encouraged to attend the meeting at 2:00 p.m. on June 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 Itzehoe Hall 2 Theodor-Heuss-Platz 3 25524 Itzehoe Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Berthold Riering Osdorfer Landstrasse 230 22549 Hamburg Germany The District Court of Itzehoe opened bankruptcy proceedings against Inefa Neue Kunststoffe GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Inefa Neue Kunststoffe GmbH Zusestr. 1 25524 Itzehoe Germany ITALIANO GASTRONOMIE: Claims Registration Period Ends May 8 ----------------------------------------------------------- Creditors of Italiano Gastronomie GmbH have until May 8, 2008, to register their claims with court-appointed insolvency manager Frank M. Welsch. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on May 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 Bielefeld Hall 4065 Fourth Floor Gerichtstrasse 66 33602 Bielefeld Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Frank M. Welsch Barkeystrasse 30 33330 Guetersloh Germany Tel: 05241/9940 924 Fax: +4952419940909 The District Court of Bielefeld opened bankruptcy proceedings against Italiano Gastronomie GmbH on March 26, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Italiano Gastronomie GmbH Kaiserstr. 15 33330 Guetersloh Germany KAMPUS CONSULTING: Claims Registration Period Ends May 5 -------------------------------------------------------- Creditors of Kampus Consulting GmbH have until May 5, 2008, to register their claims with court-appointed insolvency manager Andreas Mueller-Stein. Creditors and other interested parties are encouraged to attend the meeting at 8:50 a.m. on May 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 Cologne Meeting Hall 142 First Floor Luxemburger Strasse 101 50939 Cologne Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Andreas Mueller-Stein Schuetzenstr. 5 50126 Bergheim Germany The District Court of Cologne opened bankruptcy proceedings against Kampus Consulting GmbH on March 7, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Kampus Consulting GmbH Attn: Antonijo Kampus, Manager Alten Glashuette 9 50127 Bergheim Germany KARL MOERSCHEL: Creditors Must File Claims by May 15 ---------------------------------------------------- Creditors of Karl Moerschel GmbH Bauunternehmen have until May 15, 2008, to register their claims with court-appointed insolvency manager Bernd Reuss. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on May 28, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Friedberg (Hessen) Hall 20a Homburger Strasse 18 61169 Friedberg (Hessen) Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Bernd Reuss Mainzer-Tor-Anlage 33 61169 Friedberg (Hessen) Germany The District Court of Friedberg (Hessen) opened bankruptcy proceedings against Karl Moerschel GmbH Bauunternehmen on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Karl Moerschel GmbH Bauunternehmen Orleshauser Strasse 65 63654 Buedingen Germany Attn: Rainer Debus, Manager Koehlerstrasse 9 63683 Ortenberg Germany LUDWIG JAHN: Claims Registration Period Ends May 8 -------------------------------------------------- Creditors of Ludwig Jahn GmbH have until May 8, 2008, to register their claims with court-appointed insolvency manager Dr. Christian Willmer. Creditors and other interested parties are encouraged to attend the meeting at 10:05 a.m. on June 19, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Syke Hall 112 Hauptstr. 5A 28857 Syke 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. Christian Willmer Georgstrasse 5D 27283 Verden Germany Tel: 04231-884-0 Fax: 04231-884-55 The District Court of Syke opened bankruptcy proceedings against Ludwig Jahn GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Ludwig Jahn GmbH Attn: Ludwig Jahn, Manager Lahauser Str. 35A 28844 Weyhe Germany MARKISCHE AUTOMOBIL: Creditors Must File Claims by May 15 --------------------------------------------------------- Creditors of Markische Automobil GmbH & Co. KG have until May 15, 2008, to register their claims with court-appointed insolvency manager Ulrich Wenzel. Creditors and other interested parties are encouraged to attend the meeting at 2:30 p.m. on June 11, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Potsdam Hall 301 Third Floor Nebenstelle Lindenstrasse 6 14467 Potsdam 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: Ulrich Wenzel Grossbeerenstrasse 231 14480 Potsdam Germany The District Court of Potsdam opened bankruptcy proceedings against Markische Automobil GmbH & Co. KG on March 20, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Markische Automobil GmbH & Co. KG Frankenfelder Chaussee 4 14943 Luckenwalde Germany MASSAM PRODUKTENTWICKLUNGS: Claims Registration Ends May 5 ---------------------------------------------------------- Creditors of Massam Produktentwicklungs GmbH have until May 5, 2008, to register their claims with court-appointed insolvency manager Roland Stephan Lehnert. Creditors and other interested parties are encouraged to attend the meeting at 11:45 a.m. on May 26, 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 Coburg Meeting Hall K First Floor Coburg 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: Roland Stephan Lehnert Michael-Och-Str. 5 96215 Lichtenfels-Schney Germany Tel: 09571/83382 Fax: 09571/83083 The District Court of Coburg opened bankruptcy proceedings against Massam Produktentwicklungs GmbH on March 19, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Massam Produktentwicklungs GmbH Kronacher Str. 20 96215 Lichtenfels Germany MOSAIC SOFTWARE: Illiquidity Spurs Insolvency Filing ---------------------------------------------------- The executive board of Mosaic Software AG have filed their application for opening the insolvency proceedings with the District Court of Bonn due to illiquidity. The company says that the filing became necessary since its liquid assets will presumably be insufficient for the fulfillment of their due liabilities. The court will examine the application and decide, whether this will be accepted and, if so, appoint an interim liquidator. With the medium-term aim of enabling the further profitable existence of MOSAIC Software AG, the company had increasingly strengthened their reorganization measures and consolidation activities during the past two years. On Jan. 1, 2006, Rolf A Mugrauer was appointed member of the executive board of MOSAIC Software AG, thus replacing the company�s founder Assem F. Audi. After Mr. Fosi Audi retired from the executive board in November 2006, Mr. Mugrauer became sole executive manager. The consolidation activities, accompanied by drastic cost reductions, and the repositioning of Mosaic Software AG as an EDI-outsourcing and process-consultancy firm as well as the return to financial services markets were strongly pushed by Mugrauer and showed success. However, time was too scarce to develop market potentials in the consulting field and for the innovative communications platform MOSAIC BXS, which was introduced to the market in the first quarter 2007. Therefore, the struggle to get the company back onto the road of success failed. All measures meant to overcome the crisis, as presented at the last annual general meeting, were introduced without delay. For quite some time, the company had been looking for a strategic investor as well as a buyer for the formerly used office building in Alsdorf near Aachen. Both would have provided the company with the urgently needed mezzanine money. Unfortunately, the negotiations potentially interested strategic partners and investors finally have failed. About Mosaic Headquartered in Meckenheim, Germany, Mosaic Software AG -- http://www.mosaic-ag.com/-- provides solutions for the automation and optimization of business and supply chain processes. Mosaic offers complete software packages, as well as individually tailored software solutions. The Company also provides a wide range of services to support the entire supply chain, including consulting, outsourcing for suppliers, and OEM products and solutions. MR.CLEAN GMBH: Claims Registration Period Ends May 5 ---------------------------------------------------- Creditors of Mr.Clean GmbH & Co. KG have until May 5, 2008, to register their claims with court-appointed insolvency manager Peter Depre. Creditors and other interested parties are encouraged to attend the meeting at 11:00 a.m. on June 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 Mannheim Hall 232 Second Floor Schloss 68149 Mannheim Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Peter Depre O 4, 13-16 68161 Mannheim Germany Tel: 0621/120780 The District Court of Mannheim opened bankruptcy proceedings against Mr.Clean GmbH & Co. KG on March 14, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Mr.Clean GmbH & Co. KG Attn: Branko Gajic, Manager Exerzierplatz 1 68167 Mannheim Germany MSX INTERNATIONAL: S&P Lifts Rating on US$205 Mln Notes to B- ------------------------------------------------------------- Standard & Poor's Ratings Services raised its issue-level rating on MSX International Inc.'s US$205 million senior secured notes due 2012 to 'B-' (the same as the corporate credit rating) from 'CCC+'. The recovery rating on this debt remains '3', indicating the expectation for meaningful (50%-70%) recovery in the event of a payment default. "The issue-level rating change reflects Standard & Poor's revisions to its recovery rating scale and issue-level rating framework for speculative-grade secured debt issues announced in 2007," said Standard & Poor's credit analyst Lawrence Orlowski. The senior notes were issued as 205,000 units, consisting of US$71.8 million principal amount of senior secured notes of MSX U.K., US$66.6 million principal amount of notes of MSX Germany, and US$66.6 million principal amount of notes of MSX France. The long-term corporate credit rating on Warren, Mich.-based MSX is 'B-' and the outlook is stable. This rating reflects the integrated business solutions and human capital management services provider's highly leveraged financial profile and vulnerable business position. Ratings List MSX International Inc. Corporate Credit Rating B-/Stable/-- Upgraded To From MSX International Inc. Senior Secured Local Currency B- CCC+ MSX International UK PLC Senior Secured US$66.625 mil sr secd nts due 2012 B- CCC+ Recovery Rating 3 3 US$66.625 mil sr secd nts due 2012 B- CCC+ Recovery Rating 3 3 US$71.75 mil sr secd nts due 2012 B- CCC+ Recovery Rating 3 3 MSX International Inc. (MSXI) -� http://www.msxi.com/-- provides outsourced integrated business solutions, focused primarily on warranty management, dealer process improvement, and human capital solutions to automotive and truck OEMs, dealer, suppliers and other aftermarket service providers. The company leverages it more than 70 years of industry experience to provide blue-chip companies worldwide with solutions that enable them to enhance operational effectiveness and efficiencies, improve quality, reduce costs and generate revenue opportunities. The company is headquartered in Warren, Michigan, and has annual revenues of approximately US$360 million. MSX has over 3,600 automotive experts in 18 countries, including its European headquarters in Cologne, Germany. The company's Latin America subsidiary, MSX International do Brasil Ltda., is based in Brazil. NORDUFER GMBH: Claims Registration Ends May 8 --------------------------------------------- Creditors of Nordufer GmbH & Co. KG have until May 8, 2008 to register their claims with court-appointed insolvency manager Christian Koehler-Ma. Claims will be verified at 11:30 a.m. July 7, 2008 at: The District Court of Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin Germany Creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Christian Koehler-Ma Kurfuerstendamm 26 a 10719 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Nordufer GmbH & Co. KG on Feb. 14, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Nordufer GmbH & Co. KG Breite Strasse 12 14199 Berlin Germany NORDUFER VERWALTUNGS: Creditors Must File Claims by May 15 ---------------------------------------------------------- Creditors of Nordufer Verwaltungs GmbH have until May 15, 2008, to register their claims with court-appointed insolvency manager Christian Koehler-Ma. Creditors and other interested parties are encouraged to attend the meeting at 11:35 a.m. on July 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 Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Christian Koehler-Ma Kurfuerstendamm 26 a 10719 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Nordufer Verwaltungs GmbH on March 31, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Nordufer Verwaltungs GmbH Breite Str. 12 14199 Berlin Germany OBERDICK GMBH: Claims Registration Period Ends April 30 ------------------------------------------------------- Creditors of Oberdick GmbH have until April 30, 2008, to register their claims with court-appointed insolvency manager Stephan Ries. Creditors and other interested parties are encouraged to attend the meeting at 9:20 a.m. on May 27, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Wuppertal Meeting Room A234 Second Floor Isle 2 42103 Wuppertal Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Stephan Ries Wall 28 42103 Wuppertal Germany Tel: 0202/317558-0 Fax: 0202/317558-10 The District Court of Wuppertal opened bankruptcy proceedings against Oberdick GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Oberdick GmbH Rosenthalstr. 26 42369 Wuppertal Germany Attn: Petra Meynen-Koerth, Manager Hohenbirkerstr. 41 42855 Remscheid Germany ODS BUSINESS: Claims Registration Period Ends May 5 --------------------------------------------------- Creditors of ODS Business Services Europe GmbH have until May 5, 2008, to register their claims with court-appointed insolvency manager Jan H. Wilhelm. Creditors and other interested parties are encouraged to attend the meeting at 10:20 a.m. on June 4, 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: Jan H. Wilhelm Albert-Einstein-Ring 11/15 22761 Hamburg Germany The District Court of Hamburg opened bankruptcy proceedings against ODS Business Services Europe GmbH on March 25, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: ODS Business Services Europe GmbH Attn: Wilhelm Friedrich Mittrich, Manager Christoph-Probst-Weg 3 20251 Hamburg Germany PLANTAFLOR BLUMENVERMARKTUNG: Creditors' Claims Due May 15 ---------------------------------------------------------- Creditors of Plantaflor Blumenvermarktung GmbH have until May 15, 2008, to register their claims with court-appointed insolvency manager Fritz Westhelle. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on June 20, 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 Kassel Hall 234 Friedrichsstrasse 32-34 34117 Kassel 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: Fritz Westhelle Wilhelmshoeher Allee 270 34131 Kassel Germany The District Court of Kassel opened bankruptcy proceedings against Plantaflor Blumenvermarktung GmbH on March 31, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Plantaflor Blumenvermarktung GmbH Attn: Thomas Gatke, Manager Otto-Hahn-Strasse 27 34253 Lohfelden Germany PUELLMANN GMBH: Claims Registration Ends May 8 ---------------------------------------------- Creditors of Puellmann GmbH have until May 8, 2008 to register their claims with court-appointed insolvency manager Dr. Christian Willmer. Creditors and other interested parties are encouraged to attend the meeting at 9:20 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 Verden (Aller) Hall 214 Main Building Johanniswall 8 27283 Verden (Aller) 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. Christian Willmer Georgstr. 5 27283 Verden (Aller) Germany Tel: 04231/884-45 Fax: 04231/884-55 The District Court of Verden (Aller) opened bankruptcy proceedings against Puellmann GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Puellmann GmbH Attn: Andrew Kennedy, Manager Eichendorffweg 16 27308 Kirchlinteln Germany ROBERT KLETA: Claims Registration Period Ends May 5 --------------------------------------------------- Creditors of Robert Kleta GmbH Bauunternehmung have until May 5, 2008, to register their claims with court-appointed insolvency manager Wolf-R. von der Fecht. Creditors and other interested parties are encouraged to attend the meeting at 11:20 a.m. on May 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 Krefeld Meeting Hall H 131 First Floor Nordwall 131 47798 Krefeld 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. Wolf-R. von der Fecht Rheinort 1 40213 Duesseldorf Germany Tel: 0211 13940 Fax: +4902111394251 The District Court of Krefeld opened bankruptcy proceedings against Robert Kleta GmbH Bauunternehmung on March 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Robert Kleta GmbH Bauunternehmung Attn: Robert Kleta, Manager Muehlenstr. 86 47918 Toenisvorst Germany ROELING SYSTEM: Claims Registration Period Ends May 5 ----------------------------------------------------- Creditors of Roeling System Logistik Service GmbH have until May 5, 2008, to register their claims with court-appointed insolvency manager Stephan Muenzel. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on June 3, 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 Tostedt Meeting Hall I Linden 23 21255 Tostedt 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: Stephan Muenzel Bachstr. 85 a 22083 Hamburg Germany Tel: 040/32 08 36-0 Fax: 040/32 08 36 36 The District Court of Tostedt opened bankruptcy proceedings against Roeling System Logistik Service GmbH on March 6, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Roeling System Logistik Service GmbH Bendestofer Str. 5 21244 Buchholz Germany ROLF HACHMEISTER: Claims Registration Period Ends May 7 ------------------------------------------------------- Creditors of Rolf Hachmeister GmbH have until May 7, 2008 to register their claims with court-appointed insolvency manager Dr. Yorck Tilman Streitboerger. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on May 28, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Bielefeld Hall 4065 Fourth Floor Gerichtstrasse 66 33602 Bielefeld Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Yorck Tilman Streitboerger Adenauerplatz 4 33602 Bielefeld Germany Tel: 0521-9141490 Fax: 052191414884 The District Court of Bielefeld opened bankruptcy proceedings against Rolf Hachmeister GmbH on March 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Rolf Hachmeister GmbH Oetinghauser Weg 79 32051 Herford Germany RUEDIGER FALTZ: Claims Registration Period Ends May 7 ----------------------------------------------------- Creditors of Ruediger Faltz GmbH have until May 7, 2008, to register their claims with court-appointed insolvency manager Rolf Weidmann. Creditors and other interested parties are encouraged to attend the meeting at 1:00 p.m. on May 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 Essen Meeting Hall 293 Second Floor Zweigertstr. 52 45130 Essen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Rolf Weidmann Alfredstr. 279 45133 Essen Germany The District Court of Essen opened bankruptcy proceedings against Ruediger Faltz GmbH on March 17, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Ruediger Faltz GmbH In der Hagenbeck 37 45143 Essen Germany S + W INGENIEURGESELLSCHAFT: Claims Registration Ends May 5 ----------------------------------------------------------- Creditors of S + W Ingenieurgesellschaft mbH have until May 5, 2008, to register their claims with court-appointed insolvency manager Matthias Roensch. Creditors and other interested parties are encouraged to attend the meeting at 2:00 p.m. on June 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 Cottbus Hall 210 First Floor Gerichtsplatz 2 03046 Cottbus 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: Matthias Roensch Gustav-Adolf-Strasse 6 b 01219 Dresden Germany The District Court of Cottbus opened bankruptcy proceedings against S + W Ingenieurgesellschaft mbH on March 19, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: S + W Ingenieurgesellschaft mbH Attn: Roland Schlag and Herrn Peter Witt, Managers Dissenchener Strasse 50 03042 Cottbus Germany SCHLUETER-BAUR: Claims Registration Period Ends May 7 ----------------------------------------------------- Creditors of Schlueter-Baur Vertriebs GmbH & Co KG have until May 7, 2008, to register their claims with court-appointed insolvency manager Gerhard Hauk. Creditors and other interested parties are encouraged to attend the meeting at 8:50 a.m. on June 18, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Wetzlar Meeting Hall 201 Building B Second Stock Wetherstr. 1 35578 Wetzlar 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: Gerhard Hauk Marktlaubenstrasse 9 35390 Giessen Germany Tel: 0641/9324360 Fax: 0641/9324350 E-mail: insolvenz@rae-voelpel.de The District Court of Wetzlar opened bankruptcy proceedings against Schlueter-Baur Vertriebs GmbH & Co KG on March 27, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Schlueter-Baur Vertriebs GmbH & Co KG Am Forum 1 35578 Wetzlar Germany SCHUERING-BETON GMBH: Claims Registration Period Ends April 23 -------------------------------------------------------------- Creditors of Schuering-Beton GmbH have until April 23, 2008, to register their claims with court-appointed insolvency manager Albert Wolff. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on June 4, 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 D132 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: Albert Wolff Am Schiesshaus 1-3 01067 Dresden Germany Website: www.worako.de The District Court of COURT opened bankruptcy proceedings against Schuering-Beton GmbH on April 2, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Schuering-Beton GmbH Attn: Mirko Schuering, Manager Altenberger Str. 8 01809 Dohna Germany SCHULDNERS TH: Claims Registration Ends May 7 --------------------------------------------- Creditors of Schuldners TH Malerei Service GmbH have until May 7, 2008 to register their claims with court-appointed insolvency manager Reinhold Schmid-Sperber. Creditors and other interested parties are encouraged to attend the meeting on June 18, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Neumuenster Boostedter Strasse 26 24534 Neumuenster 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: Reinhold Schmid-Sperber Westring 455 24118 Kiel Germany The District Court of Neumuenster opened bankruptcy proceedings against Schuldners TH Malerei Service GmbH on March 19, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Schuldners TH Malerei Service GmbH Attn: Torsten Hille, Manager Aelvdalenweg 11 24217 Schoenberg Germany SOMMER GMBH: Creditors Must File Claims by May 15 ------------------------------------------------- Creditors of Sommer GmbH Glas- u. Gebaudereinigung have until May 15, 2008, to register their claims with court-appointed insolvency manager Hans-Dieter Ehlenz. Creditors and other interested parties are encouraged to attend the meeting at 11:15 a.m. on June 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 Bitburg Hall 128 Gerichtsstrasse 2/4 54634 Bitburg 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-Dieter Ehlenz Westpark 13D 54634 Bitburg Germany The District Court of Bitburg opened bankruptcy proceedings against Sommer GmbH Glas- u. Gebaudereinigung on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Sommer GmbH Glas- u. Gebaudereinigung Kollenbergstrasse 3 54647 Dudeldorf Germany SOUND-FARM GMBH: Creditors Must File Claims by May 15 ----------------------------------------------------- Creditors of Sound-Farm GmbH have until May 15, 2008, to register their claims with court-appointed insolvency manager Paul Fink. Creditors and other interested parties are encouraged to attend the meeting at 10:20 a.m. on June 5, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Duesseldorf Meeting Hall A 409 Fourth Floor Muehlenstrasse 34 40213 Duesseldorf 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: Paul Fink Koenigsallee 33 40212 Duesseldorf Germany The District Court of Duesseldorf opened bankruptcy proceedings against Sound-Farm GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Sound-Farm GmbH Otto-Hahn-Strasse 7 40721 Hilden Germany Attn: Andreas Litger, Manager Thueringer Strasse 21 50733 Cologne Germany TAUCH GESELLSCHAFT: Claims Registration Period Ends May 5 --------------------------------------------------------- Creditors of Tauch Gesellschaft fuer Haus- und Grundbesitz mbH & Co. KG have until May 5, 2008, to register their claims with court-appointed insolvency manager Dr. Lucas F. Floether. Creditors and other interested parties are encouraged to attend the meeting at 9:20 a.m. on June 5, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Magdeburg Hall 13 Breiter Weg 203 - 206 39104 Magdeburg 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 Halberstadter Str. 55 39112 Magdeburg Tel.: 0391/5556840 Fax: 0391/5556849 Germany E-mail: magdeburg@floetherwissing.de The District Court of Magdeburg opened bankruptcy proceedings against Tauch Gesellschaft fuer Haus- und Grundbesitz mbH & Co. KG on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Tauch Gesellschaft fuer Haus- und Grundbesitz mbH & Co. KG Planetenweg 123 39118 Magdeburg Germany TRANS-& CARSERVICE: Creditors Must File Claims by May 15 -------------------------------------------------------- Creditors of Trans-& Carservice GmbH have until May 15, 2008, to register their claims with court-appointed insolvency manager Klaus Pannen. Creditors and other interested parties are encouraged to attend the meeting at 8:30 a.m. on June 11, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Pinneberg Hall 3 First Floor Bahnhofstrasse 17 25421 Pinneberg 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: Klaus Pannen Neuer Wall 25 / Schleusenbruecke 1 20354 Hamburg Germany The District Court of Pinneberg opened bankruptcy proceedings against Trans-& Carservice GmbH on March 12, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Trans-& Carservice GmbH Dorfstrass