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 Friday, April 18, 2008, Vol. 9, No. 77 Headlines A U S T R I A BAJ HANDEL: Claims Registration Period Ends May 13 BFO IMMOBLIEN: First Creditors' Meeting Slated for April 29 CIGLAR OEG: Claims Registration Period Ends June 3 B U L G A R I A KREMIKOVTZI AD: Moody's Cuts Corporate Family Rating to Caa3 F R A N C E ASPEN TECH: Earns US$45.5 Million in Fiscal Year Ended June 30 G E R M A N Y ADVANCED MICRO: Posts US$358 Mln Net Loss in First Quarter 2008 ALERIS INT'L: S&P Puts Ratings on Watch Neg. on Weak End Markets BIR-SEL LEBENSMITTEL: Claims Registration Ends May 10 BRIEF- UND PAKETLOGISTIK: Claims Registration Period Ends May 2 BRITISH ENERGY: E.ON May Consider Takeover Bid BZ BOTENZUSTELLUNG: Claims Registration Period Ends May 7 DK - DIREKTKUECHEN GMBH: Claims Registration Ends May 10 FACHKLINIK VICTORIA: Claims Registration Period Ends April 25 FINGERFOOD-GEFLUEGEL: Claims Registration Period Ends May 5 FSB FREIENHUFENER: Claims Registration Period Ends May 7 FUTURA MASSIVHAUS: Claims Registration Period Ends May 8 GALEV TRAVEL: Claims Registration Period Ends May 5 GESELLSCHAFT FUER BERATUNG: Claims Registration Ends May 7 HEIZUNG & SANITAR: Claims Registration Period Ends May 9 HORST SCHERNER: Claims Registration Period Ends May 9 IVM VERWALTUNGSGESELLSCHAFT: Claims Registration Ends May 2 IZO-BAU GMBH: Claims Registration Period Ends May 6 KARL RAYER: Claims Registration Period Ends May 9 KLIMASOL GMBH: Claims Registration Period Ends May 9 LEVY BEDACHUNGS-UND: Claims Registration Period Ends May 9 ONE4MEDIAD GMBH: Claims Registration Period Ends May 9 PERLMAT GMBH: Claims Registration Period Ends May 9 PIN MAIL FRANKFURT: Claims Registration Period Ends May 9 PIN MAIL HAMBURG: Claims Registration Period Ends May 9 PIN MAIL NEUMUENSTER: Claims Registration Period Ends May 9 PROFIDRESS WEYL: Creditors' Meeting Slated for April 21 RULAND GMBH: Claims Registration Period Ends May 7 ST. HUBERT GMBH: Claims Registration Ends May 9 TWP - THIELMANN GMBH: Claims Registration Ends May 9 VERITAS TIERZUCHT: Claims Registration Ends May 9 VIELLIEBER HOLZBAU: Claims Registration Ends May 9 VOECKING RAUMSYSTEME: Claims Registration Period Ends May 6 I R E L A N D IRALCO: Plant May Resume Operations on April 21 I T A L Y ALITALIA SPA: Berlusconi Mulls 3-Way Merger with Air France-KLM FIAT SPA: Fails to Reach Agreement with Union on Transfer K A Z A K H S T A N AKJOL INTERNATIONAL: Creditors Must File Claims by June 3 ASPARA LLP: Claims Deadline Slated for June 4 CITY CENTER: Claims Filing Period Ends June 4 ELTELECOM LLP: Creditors' Claims Due on June 3 ENERGO MIR: Claims Registration Ends June 4 GREEN FIELD: Creditors Must File Claims by June 4 LUCKY KZ: Claims Deadline Slated for June 4 SLAV TRANS: Claims Filing Period Ends June 3 TIM WEST: Creditors' Claims Due on June 3 TRAKTOR-TRADE LLP: Claims Registration Ends June 4 K Y R G Y Z S T A N ASIA POLIMETALL: Creditors Must File Claims by May 20 L U X E M B O U R G DANA HOLDING: Appoints Gary L. Convis as Chief Executive Officer N E T H E R L A N D S PRICELINE.COM INC: Good Performance Prompts S&P to Lift Ratings R U S S I A BALIZ-ALCO LLC: Creditors Must File Claims by May 22 CENTRAL TELECOMMUNICATIONS: Earns RUR3.64 Billion for 2007 COMSTAR-UNITED: Integrates Golden Line Into Group KAROSA CJSC: Creditors Must File Claims by May 22 LUKHOVITSKIY LLC: Creditors Must File Claims by May 22 MINE KAPITALNAYA: Creditors Must File Claims by April 22 MISHUTINSKOE OJSC: Creditors Must File Claims by May 22 MOBILE TELESYSTEMS: Earns US$2.07 Billion for Full Year 2007 ROSNEFT OIL: Mulls Considerable Increase in 2007 Dividend SIBERIAN MANUFACTURE: Creditors Must File Claims by May 22 SISTEMA JSFC: Repays US$350 Million Eurobond Issue TATNEFT OAO: Hikes Crude Oil Output by 1.8% for 1st Quarter 2008 TVERSKAYA SPINNING-WEAVING: Names Y. Smirnov to Manage Assets VIMPEL-COMMUNICATIONS: Recommends RUR13.8 Billion 2007 Dividend VOLGOTANKER OJSC: Creditors Must File Claims by May 22 * S&P Puts Yamal-Nenets' Ratings at BB+/ruAA+ on Outlook Stable * Fitch Upgrades Novosibirsk Region's Ratings to BB S P A I N GRUPO AISA: Barcelona Court Considers Insolvency Request BANCAJA 12: S&P Rates EUR2.1 Billion Notes at BB S W E D E N DOLE FOOD: S&P Lifts Senior Unsecured Debt Rating to B- S W I T Z E R L A N D NYCOMED A/S: Moody's Cuts Corporate Family Rating to B2 U K R A I N E AZARIYA DNIEPR: Creditors Must File Claims by May 1 DOBROPOLYE FERROCONCRETE: Creditors Must File Claims by May 1 ERKER LLC: Creditors Must File Claims by May 1 INTERSTYLE LLC: Creditors Must File Claims by May 1 NADIYA LTD: Creditors Must File Claims by May 1 PMK-1 CJSC: Creditors Must File Claims by May 1 POGREBISCHE AGRICULTURAL: Creditors Must File Claims by May 1 STROMA LLC: Creditors Must File Claims by May 1 U N I T E D K I N G D O M BIZ PUBLISHING: Creditors' Meeting Slated for April 30 BRITISH AIRWAYS: SLI Executives Hold Talks Over T5 Fiasco BRITISH ENERGY: Germany's E.ON May Consider Takeover Bid CABLE & WIRELESS: Non-Dominance Request Cues OUR Market Study CANDU ENTERTAINMENT: Luminar Sells 26 Bars to Cavendish COLEMAN WILLIAMS: Brings In Liquidators from Mazars COMBINED HEATING: Calls In Liquidators from Tenon Recovery DYRLAGA THOMPSON: Appoints Liquidators from Mazars FABULOUS BAKIN': Taps Liquidators from BDO Stoy Hayward FENMARC PREPARED: 60 Jobs Axed Following Administration FIAT SPA: UK Unit Names Andrew Sproston as Brand Sales Director FREEDOM RECORDS: Names Colin Burke as Administrator GENERAL MOTORS: Aligns Marketing With Four Brand Channels GPL RESOURCES: Claims Filing Period Ends May 19 IDOLS LICENSING: Hires Liquidators from Vantis Business Recovery INSTANT MUSCLE: Creditors' Meeting Slated for April 23 JEANCHARM LTD: Creditors' Meeting Slated for April 23 KINGSWOOD CONSTRUCTION: Taps Moore Stephens as Administrators NEW INN: Appoints Joint Administrators from Tenon Recovery PHOENIX STEEL: Brings In Liquidators from Moore Stephens SEA CONTAINERS: Court OKs Navigant as Pension Advisors SEA CONTAINERS: Panel Obtains International Judicial Assistance TAXIS R US: C. B. Barrett Leads Liquidation Procedure TRAUMA CLAIMS: Brings In Ernst & Young as Administrators * BOOK REVIEW: Financial Planning for High Net Worth Individual ********* ============= A U S T R I A ============= BAJ HANDEL: Claims Registration Period Ends May 13 -------------------------------------------------- Creditors owed money by LLC BAJ Handel (FN 228699y) have until May 13, 2008, to file written proofs of claim to court-appointed estate administrator Robert Levovnik at: Mag. Robert Levovnik Priesterhausgasse 1/II 9020 Klagenfurt Austria Tel: 0463/50 43 43 Fax: 0463/504582 E-mail: levovnik@aon.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:00 a.m. on May 19, 2008, for the examination of claims. The meeting of creditors 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 April 2, 2008 (Bankr. Case No. 41 S 34/08k). BFO IMMOBLIEN: First Creditors' Meeting Slated for April 29 ----------------------------------------------------------- Creditors owed money by LLC BFO Immoblien (FN 266197t) are encouraged to attend the first creditors' meeting at 2:00 p.m. on April 29, 2008. The creditors' meeting will be held at: The Land Court of Wiener Neustadt Room 15 Wiener Neustadt Austria The Court will also examine the claims at 10:30 a.m. on June 3, 2008, at the same venue. Creditors have until May 20, 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 40 E-mail: bernhard.schatz@bpv-huegel.com Headquartered in Baden bei Wien, Austria, the Debtor declared bankruptcy on April 2, 2008 (11 S 32/08d). CIGLAR OEG: Claims Registration Period Ends June 3 -------------------------------------------------- Creditors owed money by OEG Ciglar (FN 152718k) have until June 3, 2008, to file written proofs of claim to court-appointed estate administrator Ernst Lehenbauer at: Mag. Ernst Lehenbauer Hauptplatz 21 4470 Enns Austria Tel: 07223/810 10 E-mail: ra.lehenbauer@attglobal.net Creditors and other interested parties are encouraged to attend the creditors' meeting at 1:45 p.m. on June 17, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Steyr Hall 7 Second Floor Steyr Austria Headquartered in Asten, Austria, the Debtor declared bankruptcy on April 2, 2008 (Bankr. Case No. 14 S 19/08d). =============== B U L G A R I A =============== KREMIKOVTZI AD: Moody's Cuts Corporate Family Rating to Caa3 ------------------------------------------------------------ Moody's Investors Service downgraded the corporate family rating of Kremikovtzi AD to Caa3 from Caa1 and the rating on its EUR325 million senior secured guaranteed notes raised at Bulgaria Steel Finance BV to Caa3/LGD 4(53) from Caa1 LGD4 (55). The outlook is developing. The rating action reflects: (a) continuous fundamental weakness of the business; (b) weak liquidity; and (c) the announcement by the main shareholder in Kremikovtzi of the intention to divest its stake in the company and therefore the increasing uncertainty of shareholder support going forward. Moody's further notes that the Trustee has served an acceleration notice on the EUR325 million senior secured guaranteed notes. Given limited cash funds available to Kremikovtzi, the company's liquidity position and debt service obligations were to a large degree so far supported by the additional capital contributions made by the majority shareholder. The developing outlook on the ratings reflects: (1) the uncertainties surrounding the acceleration of the bond by the trustee; (2) on the negative side, the potential default in the near term; (3) on the positive side: (i) the track-record of support by the main shareholder so far (ii) a potential disposal of the stake by the main shareholder if providing sufficient cash to repay liabilities; (iii) a support by the sovereign that cannot be excluded (but is considered as low probability and more likely to focus on maintaining operations rather than providing financial support). The ratings affected by this rating action are: -- Caa3 corporate family rating at Kremikovtzi AD; -- Caa3/ LGD 4(53) ratings on senior secured guaranteed notes at Bulgaria Steel Finance BV; Kremikovtzi AD corporate family rating reflects application of Moody's rating methodology for government-related issuers and comprise these inputs: -- Baseline credit assessment of 19 which equates to Caa3; -- Baa3 local currency rating of Bulgaria; -- Low dependence and low support. Moody's last rating action on Kremikovtzi AD was on Oct. 25, 2007, when the rating agency assigned a negative outlook to the company's ratings. Kremikovtzi AD is a single-site steel producer in Bulgaria. Kremikovtzi restated revenues in 2006 were BGN896 million (US$704 million) and EBITDA was negative BGN13 million (US$7 million). =========== F R A N C E =========== ASPEN TECH: Earns US$45.5 Million in Fiscal Year Ended June 30 -------------------------------------------------------------- (france/tcrla) Aspen Technology Inc. filed on Friday its Annual Report on Form 10-K for the fiscal year ending June 30, 2007, including the restatement of prior period results. Net income was US$17.9 million in the fourth quarter of fiscal 2007. This represented a significant increase compared to net income of US$3.9 million in the same period of fiscal 2006. Preferred stock discounts and dividends totaled US$3.9 million in the fourth quarter of fiscal 2006 and zero in the fourth quarter of fiscal 2007, resulting in net income applicable to common shareholders of US$17.9 million and US$52,000 in the fourth quarter of fiscal 2007 and 2006, respectively. For the fourth quarter ended June 30, 2007, AspenTech reported total revenue of US$101.4 million, an increase of 27% from the fourth quarter of the prior fiscal year, and above the company's original guidance of US$85 million to US$89 million. Within total revenue, license revenue was US$68.0 million, an increase of 52%, and services revenue was US$33.4 million, a decrease of 4%, compared to the fourth quarter of fiscal 2006, respectively. Brad Miller, chief financial officer of AspenTech, said "We are pleased to bring approximately nine months of comprehensive review of our financial accounts to a close with the filing of our fiscal 2007 10-K and first quarter fiscal 2008 10-Q financial statements. Our work included a detailed examination and restatement of prior financial statements, as well as a review of all significant accounting policies and processes. "Although it took longer than expected, we believe it was in the long-term interest of our shareholders and will benefit the company as we look to scale the business in the years ahead. With this significant body of work now behind us, we are highly focused on completing our overall goal of bringing our financial statements current and becoming relisted on a national securities exchange." Mark Fusco, chief executive officer of AspenTech, said "While the finance department has been focused on completing our financial statement filings, the company's customer facing operations have continued to execute at a high level. Following a record fiscal 2007 performance, the company has generated year-over-year license bookings growth of 25% during the first nine months of fiscal 2008, including 31% year-over-year growth during the third quarter." Fusco added, "The company ended the third fiscal quarter with a strong financial position highlighted by US$137 million in cash, an increase from US$132 million at Dec. 31, 2007, and net of US$12 million used during the third quarter to retire our previously existing Key Bank secured borrowing facility. We continue to be optimistic about the company's long-term fundamental outlook based on our industry leading domain expertise, unique suite of aspenONE solutions and solid demand in our core markets." AspenTech's income from operations, determined in accordance with generally accepted accounting principles, was US$24.0 million in the fourth quarter of fiscal 2007, exceeding the mid- point of the company's original guidance of approximately US$16 million and representing an operating margin of 23.7%. This compares to operating income of US$7.7 million in the fourth quarter of fiscal 2006, which represented an operating margin of 9.7%. GAAP operating expenses in the fourth quarter of fiscal 2007 included US$3.1 million of non-cash stock-based compensation, US$1.3 million of non-cash amortization of intangibles associated with previous acquisitions, US$1.0 million in restructuring charges due to the company's continued office consolidations, and US$800,000 in incremental auditing and professional fees associated with bringing the company's financial statements current - the combination of which reduced the company's operating margin by approximately 6 percentage points. These items reduced the prior year's operating margin by approximately 8 percentage points. Fiscal Year 2007 Financial Results For the fiscal year ended June 30, 2007, AspenTech reported total revenue of US$341.0 million, an increase of 16% from fiscal 2006. Within total revenue, license revenue was US$199.8 million, an increase of 30%, and services revenue was US$141.3 million, an increase compared to US$140.7 million, in fiscal 2006, respectively. AspenTech's income from operations, determined in accordance with GAAP, was US$55.4 million in fiscal 2007, representing an operating margin of 16.2%. This compares to operating income of US$18.8 million in fiscal 2006, which represented an operating margin of 6.4%. GAAP operating expenses in fiscal 2007 included US$11.1 million of non-cash stock-based compensation, US$6.5 million of non-cash amortization of intangibles associated with previous acquisitions, US$4.6 million in restructuring charges due to the company's continued office consolidations, and US$800,000 in incremental auditing and professional fees associated with bringing the company's financial statements current - the combination of which reduced the company's operating margin by approximately 7 percentage points. These items reduced the prior fiscal year's operating margin by approximately 7 percentage points. Net income was US$45.5 million in fiscal 2007, compared with net income of US$6.5 million in fiscal 2006. Net income applicable to common shareholders was US$38.2 million in fiscal 2007, which was net of US$7.3 million in preferred stock discounts and dividends. This represented a significant increase compared to a loss attributable to common shareholders of US$8.9 million in fiscal 2006, which was net of US$15.4 million in preferred stock discounts and dividends. AspenTech had cash and cash equivalents of US$132.3 million at June 30, 2007, an increase of approximately US$31.5 million from US$100.8 million at the end of March 31, 2007. Summary of Restatement Effects of Prior Period Financial Results The company's Annual Report on Form 10-K for fiscal 2007 included the restatement of its financial statements for fiscal years ended June 30, 2006, and 2005, in addition to the first three quarters of the year ended June 30, 2007. On June 11, 2007, the company announced that it had identified errors related to the accounting for sales of installment receivables. In particular, the company determined that certain sales of installments receivable did not meet criteria for true sale accounting on an ongoing basis. As a result, two new balance sheet accounts were created - Collateralized Receivables and the related Secured Borrowing liability. The restated consolidated balance sheet as of June 30, 2006, includes the recording of US$211.3 million in collateralized receivables, the related recording of US$182.4 million in secured borrowings, and the elimination of US$19.0 million in retained interest in sold receivables. As previously stated, the company views this newly reported liability as self funding, with collections of collateralized receivables servicing the liability. The company does not believe that this accounting conclusion alters its arrangements with its customers, and it has not changed its economic relationship with the financial institutions. The summary impact to income/loss from operations related to the restatement of installments receivable, in addition to correcting other errors in the company's previously reported financial statements, was: -- Income from operations improved from US$28.1 million as previously reported to US$31.4 million as restated for the nine months ended March 31, 2007; -- Income from operations in fiscal 2006 was US$18.8 million both as previously reported and as restated; -- Loss from operations in fiscal 2005 improved from a previously reported operating loss of US$70.0 million to a restated operating loss of US$59.0 million. On Feb. 11, 2008, the company announced it had identified errors relating to its historical accounting for income taxes for certain international tax obligations, primarily arising from transactions among consolidated subsidiaries or from revaluation of foreign currencies. As a result, the company increased tax provisions for these potential obligations in the applicable period in the amounts of US$4.1 million for the nine months ended March 31, 2007, US$3.2 million for the year ended June 30, 2006, US$6.8 million for the year ended June 30, 2005, and US$4.6 million as of June 30, 2004. The summary impact on net income or loss as a result of the restatement was: -- Net income for the nine months ended March 31, 2007 as restated was US$27.6 million, a decrease from US$31.9 million as previously reported; -- Net income for fiscal 2006 as restated was US$6.5 million, a decrease from US$12.8 million as previously reported; -- Net loss for fiscal 2005 as restated was US$69.1 million, an improvement from US$73.6 million as previously reported. In addition, in the calculation and disclosure of deferred tax balances, errors were identified for the book or tax accounting treatment for certain items. These errors resulted in the incorrect disclosure of components of the company's deferred taxes and the related offsetting valuation allowance within the income tax footnote. Accordingly, the deferred tax balances included in the income tax footnote and the offsetting valuation allowance has been restated as of June 30, 2006. As these net deferred tax assets had a full valuation allowance, the adjustments to deferred tax assets had no net impact on the company's consolidated balance sheet or statements of operations. Ending cash balances were not affected as a result of the restatement; however, the presentation of the cash flow statement was restated. The net proceeds from the sale of installments receivable were previously classified in cash flows from operations and have been restated as cash flows from financing activities. Payments made on secured borrowings are now similarly classified as cash flows from financing activities. Annual collections relating to installments receivable that were previously transferred to a financing institution are recognized as cash flows from operations. The company did not previously recognize these collections within its cash flow statement following the transfer of the installments receivable to the financing institution. Liquidity and Capital Resources a) Operating Cash Flow In fiscal 2007, operating activities provided US$55.7 million of cash as net income, plus non-cash expenses for stock-based compensation and depreciation and amortization totaling US$30.5 million, was partially offset by a US$30.9 million increase in installments receivables, primarily related to the sale of receivables to Key Bank, the proceeds from which are presented as a component of cash from financing activities. Accrued expenses increased by US$1.8 million due to increases in accruals for income taxes and professional fees associated with the restatement of the company's financial statements. b) Borrowings Collateralized by Receivable Contracts (i) Traditional Programs The company historically has maintained arrangements with financial institutions providing for borrowings that are secured by the company's installment and other receivable contracts, and for which limited recourse exists against the company. As of June 30, 2007, the company had outstanding secured borrowings of US$180.3 million that were secured by collateralized receivables totaling US$183.2 million. Availability under these arrangements is dependent upon the company's generation of additional customer receivables and the financial institutions' willingness to continue to enter into these transactions. The company estimates that there was in excess of US$64.0 million available under the Traditional Programs at June 30, 2007. (ii) Securitization of Accounts Receivable The securitization transactions in fiscal 2005 and 2007 include collateralized receivables whose value exceeds the related borrowings from the financial institutions. The company receives and retains collections on these securitized receivables after all borrowing and related costs are paid to the financial institution. The financial institutions' rights to repayment are limited to the payments received from the collateralized receivables. The carrying value of the collateralized receivables at June 30, 2007, under these arrangements was US$61.9 million and the secured borrowings totaled US$25.8 million. (iii) Fiscal 2005 Securitization On June 15, 2005, the company securitized and transferred installments receivable with a net carrying value of 71.9 million and received cash proceeds of US$43.8 million. The transfers of installments receivable to the securitization facility did not qualify as a sale for accounting purposes and has been accounted for as a secured borrowing. These borrowings are secured by collateralized receivables and the debt and borrowing costs are repaid as the receivables are collected. (iv) Fiscal 2007 Securitization On Sept. 29, 2006, the company entered into a three-year revolving securitization facility and securitized and transferred installments receivable with a net carrying value of US$32.1 million and received cash proceeds of US$20.0 million. The transfers of installments receivable to the securitization facility did not qualify as a sale for accounting purposes and have been accounted for as a secured borrowing. These borrowings are secured by collateralized receivables and the debt and borrowing costs are repaid as the receivables are collected. In December 2007, the company paid the outstanding amount of the Fiscal 2005 securitization at its carrying value. The company had been in violation of certain covenants related to the Fiscal 2007 Securitization due to the delay in filing its financial statements and other violations. In March 2008, the company paid the outstanding amount of the Fiscal 2007 Securitization at its carrying value plus a termination fee of US$800,000, and this securitization is no longer available. c) Credit Facility In January 2003 and through subsequent amendments, the company executed a loan arrangement with Silicon Valley Bank. This arrangement provides a line of credit of up to the lesser of (1) US$15.0 million or (2) 70% of eligible domestic receivables, and a line of credit of up to the lesser of (1) US$10.0 million or (2) 80% of eligible foreign receivables. As of June 30, 2007, there were US$7.4 million in letters of credit outstanding under the line of credit, and there was US$13.1 million available for future borrowing. On Oct. 16, 2007, the company executed an amendment to the Loan Arrangement that adjusted the terms of certain financial covenants, including modifying the date the company must provide monthly unaudited and annual audited financial statements to the bank. The loan arrangement expires in May 2008. The company is currently in negotiations to either: (i) extend this line of credit with the company's current lender and amend the terms of the facility; or (ii) obtain a facility from another lender. Contractual Obligations The company's total contractual obligations, which primarily consisted of operating leases for the company's headquarters and other facilities, sub-contractor purchase commitments, and other debt obligations, totaled US$62.9 million at June 30, 2007. Other than these, there were no other commitments for capital or other expenditures. Total contractual future sublease rental income as of June 30, 2007, was US$7.2 million, which is not included. On Sept. 5, 2007, the company entered into an additional sublease agreement related to its former office space in Cambridge, Massachusetts, effective Oct. 1, 2007, for approximately 50,000 square feet that expires on Sept. 30, 2012. This new sublease agreement represents US$5.5 million of scheduled sublease payments not included in the total. Effective Sept. 1, 2007, the landlord terminated a portion of the company's lease in Houston, Texas with respect to approximately 14,000 square feet of the original leased space. This termination agreement has not been included in the total and represents future reductions of US$2.6 million in lease payments. Balance Sheet At June 30, 2007, the company's consolidated balance sheet showed US$528.9 million in total assets, US$391.7 million in total liabilities, and US$137.2 million in total stockholders' equity. Full-text copies of the company's consolidated financial statements for the year ended June 30, 2007, are available for free at http://researcharchives.com/t/s?2a82 About AspenTech Based in Cambridge, Massachusetts, Aspen Technology Inc. (Nasdaq: AZPN) -- http://www.aspentech.com/-- provides process optimization software and services. AspenTech's integrated aspenONE(TM) solutions enable manufacturers to reduce costs, increase capacity, and optimize operational performance end-to- end throughout the engineering, plant operations, and supply chain management processes. The company's has operations in Europe with EMEA operations headquartered in the United Kingdom. AspenTech's Asia headquarters is located in China. In South America, the company has operations in Argentina, Brazil and Venezuela. The company also has operations in Mexico City through AspenTech de Mexico S. de R.L. de C.V. * * * Moody's Investor Service placed the company's long-term corporate family rating at B2 and its equity-linked rating at Caa1 in October 2001. These ratings still hold to date with a stable outlook. ============= G E R M A N Y ============= ADVANCED MICRO: Posts US$358 Mln Net Loss in First Quarter 2008 --------------------------------------------------------------- Advanced Micro Devices Inc. disclosed that for the first quarter of 2008, it incurred a net loss of US$358 million. This compares to a a net loss of US$1.772 billion for the fourth quarter of 2007 and a net loss of US$611 million for the first quarter of 2007. The company also said that first quarter 2008 operating loss was US$264 million. These results include an impact of $50 million, or $0.08 per share, from ATI acquisition- related charges. For the first quarter of 2008, revenue was US$1.505 billion, down 15% compared to the fourth quarter of 2007 and up 22% compared to the first quarter of 2007. �A seasonally weak first quarter was amplified by a challenging economic environment for consumers and lower than expected revenues of previous generation products, resulting in lower than expected revenues in all business segments. However, we are encouraged by the market acceptance of our Quad-Core AMD Opteron(TM) server processors as well as our new chipset and graphics offerings,� said Robert J. Rivet, AMD�s Chief Financial officer. �We remain committed to achieve operating profitability in the second half of the year, driven by our portfolio of new products and platforms and aggressive restructuring programs.� First quarter 2008 gross margin was 42% compared to 44% in the fourth quarter of 2007 and 28% in the first quarter of 2007. The decrease from the prior quarter was primarily due to decreased microprocessor unit shipments. The company says that in the seasonally down second quarter, it expects revenue to decrease in line with seasonality. As previously disclosed, AMD expects to record a restructuring charge in the second quarter of 2008. About AMD Headquartered in Sunnyvale, California, Advanced Micro Devices Inc. -- http://www.amd.com/-- (NYSE: AMD) is a global provider of innovative processing solutions in the computing, graphics and consumer electronics markets. AMD is dedicated to driving open innovation, choice and industry growth by delivering superior customer-centric solutions that empower consumers and businesses worldwide. Outside the United States, the company has subsidiaries in Belgium, Brazil, China, Germany, Japan, Malaysia and Bermuda, among others. * * * As reported in the Troubled Company Reporter-Europe on April 14, 2008, Standard & Poor's Ratings Services placed its 'B' corporate credit and senior unsecured ratings on Advanced Micro on CreditWatch with negative implications following the company's announcement that first-quarter revenues will be lower than previously expected as a result of weakening business conditions and continued technical challenges. Moody's Investors Service also placed Advanced Micro Devices' B1 corporate family and probability of default ratings, along with its B2 senior unsecured rating, under review for possible downgrade following the company's announcement that first quarter 2008 results will be weaker than anticipated. ALERIS INT'L: S&P Puts Ratings on Watch Neg. on Weak End Markets ---------------------------------------------------------------- Standard & Poor's Ratings Services placed its ratings for Aleris International Inc., including the 'B+' corporate credit rating, on CreditWatch with negative implications. "The CreditWatch listing reflects our assessment that the weak end-market demand in the company's North American rolled and extruded products segment is likely to continue over the next several quarters," said Standard & Poor's credit analyst Maurice Austin, "primarily because of weaker demand for building and construction, distribution, and transportation products. This, combined with increased debt balances due to the company's aggressive growth strategy over the past few years, has resulted in credit measures that we would consider to be weak for the rating." In resolving the CreditWatch listing, S&P will review the company's near-term operating and financial strategy in light of the difficult operating conditions and evaluate its cash flow generation capability. About Aleris International Headquartered in Beachwood, Ohio, Aleris International Inc. (NYSE:ARS) -- http://www.aleris.com/-- manufactures rolled aluminum products and offers aluminum recycling and the production of specification alloys. The company also manufactures value-added zinc products that include zinc oxide, zinc dust and zinc metal. The company's international segment provides aluminum metal to customers through both tolling arrangements and product sales, and the types of scrap that it recycles are similar to those processed by Aleris� U.S. recycling facilities. In 2004 its five plants have a rated annual capacity of 1.08 billion pounds. The operations include two aluminum recycling and foundry alloy plants in Germany as well as aluminum recycling facilities in Brazil, Mexico and Wales. The segment�s growth is largely a result of its development and use of efficient scrap preparation and recycling technologies that allow high recovery of metal and delivery of a top-quality product. In Asia, the company has subsidiaries in Hong Kong and China. BIR-SEL LEBENSMITTEL: Claims Registration Ends May 10 ----------------------------------------------------- Creditors of Bir-Sel Lebensmittel Import-Export Grosshandel GmbH have until May 10, 2008 to register their claims with court- appointed insolvency manager Dr. Juergen Spliedt. Claims will be verified at 9:45 a.m. on July 1, 2008 at: The District Court of Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Juergen Spliedt Uhlandstr. 165/166 10719 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Bir-Sel Lebensmittel Import-Export Grosshandel GmbH on Feb. 7, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Bir-Sel Lebensmittel Import-Export Grosshandel GmbH Prinzenallee 51 13359 Berlin Germany BRIEF- UND PAKETLOGISTIK: Claims Registration Period Ends May 2 --------------------------------------------------------------- Creditors of Brief- und Paketlogistik BPL GmbH have until May 2, 208, to register their claims with court-appointed insolvency manager Dr. Andreas Ringstmeier. Creditors and other interested parties are encouraged to attend the meeting at 8:40 a.m. on May 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 Cologne Meeting Hall 142 First Floor Luxemburger Strasse 101 50939 Cologne Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Andreas Ringstmeier Magnusstr. 13 50672 Koeln Germany The District Court of Cologne opened bankruptcy proceedings against Brief- und Paketlogistik BPL GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Brief- und Paketlogistik BPL GmbH Attn: Norbert Hess, Manager Bebraer Weg 1 a 99706 Sondershausen Germany BRITISH ENERGY: E.ON May Consider Takeover Bid ---------------------------------------------- Germany's E.ON AG has dismissed a Financial Times Deutschland report on April 16, 2008 in relation to its potential interest in British Energy Group plc. E.ON clarified that the reported statement is incorrect and was not approved by its board. According to Reuters, the report claimed that E.ON was not interested in BE. A spokesman for E.ON, however, said "we are keeping our options open regarding British Energy," the paper relates. About British Energy Headquartered in Livingston, Scotland, British Energy Group plc -- http://www.british-energy.com/-- is the U.K.'s largest producer of electricity. With a workforce of about 6,000, it produces around one-sixth of the nation's electricity. * * * As of March 17, 2008, British Energy Group plc carries a Ba2 long-term corporate family rating from Moody's with a stable outlook. Standard & Poor's affirmed its BB long-term corporate credit ratings on U.K.-based nuclear generator British Energy Group PLC and its subsidiary British Energy Holdings PLC, with negative outlook. The company holds a BB+ long-term issuer default rating from Fitch with a stable outlook. BZ BOTENZUSTELLUNG: Claims Registration Period Ends May 7 --------------------------------------------------------- Creditors of BZ Botenzustellung Krefeld GmbH have until May 7, 2008, to register their claims with court-appointed insolvency manager Wilhelm Klaas. Creditors and other interested parties are encouraged to attend the meeting at 10:10 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: Wilhelm Klaas Eichendorffstrasse 25 47800 Krefeld Germany Tel: (02151) 80 58 0 Fax: +4902151805858 The District Court of Krefeld opened bankruptcy proceedings against BZ Botenzustellung Krefeld GmbH on March 3, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: BZ Botenzustellung Krefeld GmbH Ispelsstr. 46 47805 Krefeld Germany DK - DIREKTKUECHEN GMBH: Claims Registration Ends May 10 -------------------------------------------------------- Creditors of DK - Direktkuechen GmbH have until May 10, 2008 to register their claims with court-appointed insolvency manager Uwe Hueggenberg. Creditors and other interested parties are encouraged to attend the meeting at 8:30 a.m. on June 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 Bochum Meeting Hall A29 Ground Floor Main Building Viktoriastrasse 14 44787 Bochum 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: Uwe Hueggenberg Huestrasse 34 44787 Bochum Germany The District Court of Bochum opened bankruptcy proceedings against DK - Direktkuechen GmbH on April 7, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: DK - Direktkuechen GmbH Attn: Marion Schemme, Manager Sandweg 22 45701 Herten Germany FACHKLINIK VICTORIA: Claims Registration Period Ends April 25 ------------------------------------------------------------- Creditors of Fachklinik Victoria Beteiligung GmbH & Co.KG have until April 25, 2008, to register their claims with court- appointed insolvency manager Frank Hanselmann. Creditors and other interested parties are encouraged to attend the meeting at 2:15 p.m. on May 8, 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 Schweinfurt Meeting Hall 22 Eingang Friedenstr. 2 Schweinfurt 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 Hanselmann Heinestrasse 7 b 97070 Wuerzburg Germany Tel: 0931/359800 The District Court of Schweinfurt opened bankruptcy proceedings against Fachklinik Victoria Beteiligung GmbH & Co.KG on April 3, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Fachklinik Victoria Beteiligung GmbH & Co.KG Am Kurgarten 5 97688 Bad Kissingen Germany FINGERFOOD-GEFLUEGEL: Claims Registration Period Ends May 5 ----------------------------------------------------------- Creditors of Fingerfood-Gefluegel GmbH have until May 5, 2008, to register their claims with court-appointed insolvency manager Angelika Amend. Creditors and other interested parties are encouraged to attend the meeting at 9:35 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 Bad Homburg v.d. Hoehe Room 302 Third Floor Auf der Steinkaut 10-12 61352 Bad Homburg v.d. Hoehe 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: Angelika Amend Minnholzweg 2b D 61476 Kronberg/Ts. Germany Tel: 06173/78340 Fax: 06173/783422 The District Court of Bad Homburg v.d. Hoehe opened bankruptcy proceedings against Fingerfood-Gefluegel GmbH on April 7, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Fingerfood-Gefluegel GmbH Attn: Hans Jakobs, Manager Schaberweg 28 61348 Bad Homburg v.d.H. Germany FSB FREIENHUFENER: Claims Registration Period Ends May 7 -------------------------------------------------------- Creditors of FSB Freienhufener Stahlbau GmbH have until May 7, 2008, to register their claims with court-appointed insolvency manager Dirk Wittkowski. Creditors and other interested parties are encouraged to attend the meeting at 10:15 a.m. on June 12, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Cottbus Hall 313 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: Dr. Dirk Wittkowski Kirchblick 11 14129 Berlin Germany The District Court of Cottbus opened bankruptcy proceedings against FSB Freienhufener Stahlbau GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: FSB Freienhufener Stahlbau GmbH Attn: Andreas Schroeder, Manager Seestrasse 64 01983 Grossraschen OT Freienhufen Germany FUTURA MASSIVHAUS: Claims Registration Period Ends May 8 -------------------------------------------------------- Creditors of Futura Massivhaus GmbH, Musterhauszentrum have until May 8, 2008, to register their claims with court-appointed insolvency manager Andreas Jakob. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on June 25, 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 Braunschweig E 01 Martinikirche 8 38100 Braunschweig Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Andreas Jakob Museumstrasse 5 D 38100 Braunschweig Germany Tel: (05 31) 88626-0 Fax: (05 31) 88626-26 The District Court of Braunschweig opened bankruptcy proceedings against Futura Massivhaus GmbH, Musterhauszentrum on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Futura Massivhaus GmbH, Musterhauszentrum Attn: Hans-Juergen Schultze, Manager Braunstrasse 10 d 38122 Braunschweig Germany GALEV TRAVEL: Claims Registration Period Ends May 5 --------------------------------------------------- Creditors of GALEV TRAVEL GmbH have until May 5, 2008, to register their claims with court-appointed insolvency manager Heinrich Trimpe-Rueschemeyer. Creditors and other interested parties are encouraged to attend the meeting at 11:00 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 Osnabrueck Branch N 301 Kollegienwall 10 49074 Osnabrueck 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: Heinrich Trimpe-Rueschemeyer Sutthauser Str. 394 49080 Osnabrueck Germany Tel: 0541/990330 Fax: 0541/9903310 The District Court of Osnabrueck opened bankruptcy proceedings against GALEV TRAVEL GmbH on April 3, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: GALEV TRAVEL GmbH Moeserstrasse 35 49074 Osnabrueck Germany GESELLSCHAFT FUER BERATUNG: Claims Registration Ends May 7 ---------------------------------------------------------- Creditors of Gesellschaft fuer Beratung und Objektabwicklung GmbH have until May 7, 2008, to register their claims with court-appointed insolvency manager Manfred Vellmer. Creditors and other interested parties are encouraged to attend the meeting at 9:15 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 119 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: Manfred Vellmer Adalbertstr. 8 48565 Steinfurt Germany Tel: 02552/638710 Fax: +4925526387111 The District Court of Muenster opened bankruptcy proceedings against Gesellschaft fuer Beratung und Objektabwicklung GmbH on March 26, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Gesellschaft fuer Beratung und Objektabwicklung GmbH Attn: Klaus Schenke, Manager Emsdettener Strasse 68 48565 Steinfurt Germany HEIZUNG & SANITAR: Claims Registration Period Ends May 9 -------------------------------------------------------- Creditors of Heizung & Sanitar Dieter Szellatis GmbH have until May 9, 2008, to register their claims with court-appointed insolvency manager Bert Buske. Creditors and other interested parties are encouraged to attend the meeting at 9:00 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 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: Bert Buske Alt Nowawes 67 14482 Potsdam Germany The District Court of Potsdam opened bankruptcy proceedings against Heizung & Sanitar Dieter Szellatis GmbH on March 14, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Heizung & Sanitar Dieter Szellatis GmbH Karl-Liebknecht-Strasse 19 1454 Beelitz Germany HORST SCHERNER: Claims Registration Period Ends May 9 ----------------------------------------------------- Creditors of Horst Scherner Tankstellen GmbH have until May 9, 2008, to register their claims with court-appointed insolvency manager Carl Wiegand. Creditors and other interested parties are encouraged to attend the meeting on May 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 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: Carl Wiegand Kempener Strasse 27 47839 Krefeld Germany Tel: 02151-74810 Fax: +4902151748120 The District Court of Krefeld opened bankruptcy proceedings against Horst Scherner Tankstellen GmbH on Feb. 8, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Horst Scherner Tankstellen GmbH Moerser Str. 406 47803 Krefeld Germany IVM VERWALTUNGSGESELLSCHAFT: Claims Registration Ends May 2 ----------------------------------------------------------- Creditors of IVM Verwaltungsgesellschaft mbH have until May 2, 2008, to register their claims with court-appointed insolvency manager Jens M. Schmittmann. Creditors and other interested parties are encouraged to attend the meeting at 1:00 p.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 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: Dr. Jens M. Schmittmann Zweigertstrasse 28-30 45130 Essen Germany The District Court of Essen opened bankruptcy proceedings against IVM Verwaltungsgesellschaft mbH on March 27, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: IVM Verwaltungsgesellschaft mbH Attn: Klaus-Peter Klein, Manager Schulstr. 20 46286 Dorsten Germany IZO-BAU GMBH: Claims Registration Period Ends May 6 --------------------------------------------------- Creditors of IZO-Bau GmbH have until May 6, 2008, to register their claims with court-appointed insolvency manager NAME. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on June 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 Osnabrueck Branch N 301 Kollegienwall 10 49074 Osnabrueck Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Thomas Lissner Schillerstr. 20 49074 Osnabrueck Germany Tel: (0541) 33 85 00 Fax: (0541) 33 850-50 The District Court of Osnabrueck opened bankruptcy proceedings against IZO-Bau GmbH on April 2, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: IZO-Bau GmbH Grenzweg 12 A 49084 Osnabrueck Germany Attn: Izudin Camovic, Manager Grenzweg 12 A 49080 Osnabrueck Germany KARL RAYER: Claims Registration Period Ends May 9 ------------------------------------------------- Creditors of Karl Rayer GmbH + Co. KG have until May 9, 2008, to register their claims with court-appointed insolvency manager Jochen Horch. Creditors and other interested parties are encouraged to attend the meeting at 2:30 p.m. on June 2, 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 Heilbronn Hall 4 Ground Floor Rollwagstr. 10a 74072 Heilbronn 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: Jochen Horch Keplerstrasse 7 74072 Heilbronn Germany Tel: 07131/7801-33 Fax: 07131/7801-11 The District Court of Heilbronn opened bankruptcy proceedings against Karl Rayer GmbH + Co. KG on March 28, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Karl Rayer GmbH + Co. KG Hoher Rain 5 72631 Aichtal Germany KLIMASOL GMBH: Claims Registration Period Ends May 9 ---------------------------------------------------- Creditors of KlimaSol GmbH have until May 9, 2008, to register their claims with court-appointed insolvency manager Dr. Bernd Peters. Creditors and other interested parties are encouraged to attend the meeting 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 Walsrode Hall 130 Lange Strasse 29-33 29664 Walsrode 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. Bernd Peters Am Wall 146 28195 Bremen Germany Tel: (0421) 24 40 09-0 Fax: (0421) 24 40 09-29 The District Court of Walsrode opened bankruptcy proceedings against KlimaSol GmbH on April 3, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: KlimaSol GmbH Meinerdinger Kirchweg 4A 29664 Walsrode Germany LEVY BEDACHUNGS-UND: Claims Registration Period Ends May 9 ---------------------------------------------------------- Creditors of Levy Bedachungs-und Altbausanierungs GmbH have until May 9, 2008, to register their claims with court-appointed insolvency manager Ottmar Hermann. Creditors and other interested parties are encouraged to attend the meeting at 10:10 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 Hanau Area E03 Engelhardstrasse 21 63450 Hanau 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: Ottmar Hermann Bleichstrasse 2-4 60313 Frankfurt/Main Germany Tel: 069/913092-0 Fax: 069/913092 30 The District Court of Hanau opened bankruptcy proceedings against Levy Bedachungs-und Altbausanierungs GmbH on March 25, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Levy Bedachungs-und Altbausanierungs GmbH Attn: Josef Levy, Manager Friedrichstrasse 10 63450 Hanau Germany ONE4MEDIAD GMBH: Claims Registration Period Ends May 9 ------------------------------------------------------ Creditors of one4mediad GmbH have until May 9, 2008, to register their claims with court-appointed insolvency manager Eberhard Stock . Creditors and other interested parties are encouraged to attend the meeting at 9:00 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: Eberhard Stock Wilhelmshofallee 75 47800 Krefeld Germany Tel: (02151) 5813-0 Fax: +4921515813134 The District Court of Krefeld opened bankruptcy proceedings against one4mediad GmbH on Feb. 15, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: one4mediad GmbH Vinkrather Str. 8 47929 Grefrath Germany PERLMAT GMBH: Claims Registration Period Ends May 9 --------------------------------------------------- Creditors of Perlmat GmbH have until May 9, 2008, to register their claims with court-appointed insolvency manager Lars Birkigt. 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 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: Lars Birkigt Koenigsbruecker Strasse 33 01099 Dresden Germany Web site: http://www.raheumann.de/ The District Court of Dresden opened bankruptcy proceedings against Perlmat GmbH on March 28, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Perlmat GmbH Niedermuschuetzer Str. 19 01665 Diera-Zehren Germany PIN MAIL FRANKFURT: Claims Registration Period Ends May 9 --------------------------------------------------------- Creditors of PIN Mail Frankfurt GmbH & Co. KG have until May 9, 2008, to register their claims with court-appointed insolvency manager Dr. Andreas Ringstmeier. Creditors and other interested parties are encouraged to attend the meeting at 10:40 a.m. on May 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 Cologne Meeting Hall 142 First Floor Luxemburger Strasse 101 50939 Cologne Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Andreas Ringstmeier Magnusstr. 13 50672 Cologne Germany The District Court of Cologne opened bankruptcy proceedings against PIN Mail Frankfurt GmbH & Co. KG on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: PIN Mail Frankfurt GmbH & Co. KG Friesestr. 7 60388 Frankfurt Germany PIN MAIL HAMBURG: Claims Registration Period Ends May 9 ------------------------------------------------------- Creditors of PIN Mail (Hamburg) GmbH have until May 9, 2008, to register their claims with court-appointed insolvency manager Dr. Axel Stirl. Creditors and other interested parties are encouraged to attend the meeting at 11:00 a.m. on May 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 Cologne Meeting Hall 142 First Floor Luxemburger Strasse 101 50939 Cologne Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Axel Stirl Lederstr. 26 22525 Hamburg Germany The District Court of Cologne opened bankruptcy proceedings against PIN Mail GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: PIN Mail GmbH Lederstr. 26 22525 Hamburg Germany PIN MAIL NEUMUENSTER: Claims Registration Period Ends May 9 ----------------------------------------------------------- Creditors of PIN Mail (Neumuenster) GmbH have until May 9, 2008, to register their claims with court-appointed insolvency manager Dr. Andreas Ringstmeier. Creditors and other interested parties are encouraged to attend the meeting at 10:20 a.m. on May 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 Cologne Meeting Hall 142 First Floor Luxemburger Strasse 101 50939 Cologne Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Andreas Ringstmeier Magnusstr. 13 50672 Cologne Germany The District Court of Cologne opened bankruptcy proceedings against PIN Mail (Neumuenster) GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: PIN Mail (Neumuenster) GmbH Fabrikstr. 20 24534 Neumuenster Germany PROFIDRESS WEYL: Creditors' Meeting Slated for April 21 ------------------------------------------------------- The court-appointed insolvency manager for Profidress Weyl Konfektion GmbH, Sascha Seehaus will present his first report on the Company's insolvency proceedings at a creditors' meeting at 9:05 a.m. on April 21, 2008. The meeting of creditors and other interested parties will be held at: The District Court of Montabaur Hall 106 First Floor Bahnhofstrasse 47 56410 Montabaur Germany The Court will also verify the claims set out in the insolvency manager's report at 8:35 a.m. on June 16, 2008 at the same venue. Creditors have until May 10, 2008 to register their claims with the court-appointed insolvency manager. The insolvency manager can be reached at: Sascha Seehaus Wilhelmstrasse 42 65582 Diez Germany Tel: 06432-64580 Fax: 06432-645820 The District Court of Montabaur opened bankruptcy proceedings against Profidress Weyl Konfektion GmbH on Feb. 26, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Profidress Weyl Konfektion GmbH Attn: Ursula Weyl, Manager Bahnhofstrasse 4 65623 Hahnstatten Germany RULAND GMBH: Claims Registration Period Ends May 7 -------------------------------------------------- Creditors of Ruland GmbH have until May 7, 2008, to register their claims with court-appointed insolvency manager Peter Haas. Creditors and other interested parties are encouraged to attend the meeting at 11:30 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 Saarbruecken Area Hall 13 First Floor Vopeliusstrasse 2 66280 Sulzbach 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. Peter Haas Kaiserstrasse 77 66386 St. Ingbert Germany Tel: (06894) 3876-311 Fax: (06894) 382185 The District Court of Saarbruecken opened bankruptcy proceedings against Ruland GmbH on March 3, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Ruland GmbH Attn: Werner Ruland, Manager Christ-Koenig-Kirche 10 66119 Saarbruecken Germany ST. HUBERT GMBH: Claims Registration Ends May 9 ----------------------------------------------- Creditors of St. Hubert GmbH have until May 9, 2008 to register their claims with court-appointed insolvency manager Dr. Martin Gitzinger. Creditors and other interested parties are encouraged to attend the meeting at 9:20 a.m. on May 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 Saarbruecken Meeting Hall 13 First Floor Vopeliusstrasse 2 66280 Sulzbach 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. Martin Gitzinger Grosser Markt 8 66740 Saarlouis Germany Tel: 06831-93090 Fax: 06831-930930 The District Court of Saarbruecken opened bankruptcy proceedings against St. Hubert GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: St. Hubert GmbH Attn: Michael Burrmeister, Manager Fasanenallee 18 66740 Saarlouis Germany TWP - THIELMANN GMBH: Claims Registration Ends May 9 ---------------------------------------------------- Creditors of TWP - Thielmann GmbH have until May 9, 2008 to register their claims with court-appointed insolvency manager Annette Dietter. Creditors and other interested parties are encouraged to attend the meeting at 9:55 a.m. on June 11, 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 Wetzlar Meeting Hall 201 Building B Second Floor 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: Annette Dietter Schlossstrasse 24/Haus 3 65594 Runkel-Dehrn Germany Tel: 06431/97770 Fax: 06431/977720 E-mail: limburg@reuss-und-partner.de The District Court of Wetzlar opened bankruptcy proceedings against TWP - Thielmann GmbH on March 31, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: TWP - Thielmann GmbH Attn: Fridolin Thielmann, Manager Fliederstrasse 9 35708 Haiger Germany VERITAS TIERZUCHT: Claims Registration Ends May 9 ------------------------------------------------- Creditors of VERITAS Tierzucht GmbH have until May 9, 2008 to register their claims with court-appointed insolvency manager Peter Knoepfel. Creditors and other interested parties are encouraged to attend the meeting at 11:00 a.m. on June 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 Celle Hall 014 Ground Floor Muehlenstrasse 4 29221 Celle 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 Knoepfel Hallerstr. 76 20146 Hamburg Germany Tel: 040/4146380 Fax: 040/445635 The District Court of Celle opened bankruptcy proceedings against VERITAS Tierzucht GmbH on March 19, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: VERITAS Tierzucht GmbH Hauptstrasse 26 29353 Ahnsbeck Germany Attn: Thomas Heim Wietzestrand 15 30900 Wedemark Germany VIELLIEBER HOLZBAU: Claims Registration Ends May 9 -------------------------------------------------- Creditors of Viellieber Holzbau GmbH have until May 9, 2008 to register their claims with court-appointed insolvency manager Stephan Schmidt. Creditors and other interested parties are encouraged to attend the meeting at 10:00 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 Konstanz Hall 306 Third Floor Gerichtstrasse 9 78462 Konstanz 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 Schmidt Carl-Benz-Str. 5 88696 Owingen Germany The District Court of Konstanz opened bankruptcy proceedings against Viellieber Holzbau GmbH on March 26, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Viellieber Holzbau GmbH Attn: Alfons Viellieber, Manager Gewerbegebiet 26 88693 Deggenhausertal Germany VOECKING RAUMSYSTEME: Claims Registration Period Ends May 6 ----------------------------------------------------------- Creditors of Voecking Raumsysteme-Objekteinrichtungen GmbH have until May 6, 2008, to register their claims with court-appointed insolvency manager Tanja Kreimer. Creditors and other interested parties are encouraged to attend the meeting at 9:15 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 Muenster Meeting Hall 119 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: Tanja Kreimer Klosterstrasse 33 48703 Stadtlohn Germany Tel: 02563/2083-0 Fax: +492563208320 The District Court of Muenster opened bankruptcy proceedings against Voecking Raumsysteme-Objekteinrichtungen GmbH on March 11, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Voecking Raumsysteme-Objekteinrichtungen GmbH Attn: Theodor Mezger, Manager Heinrich-Hertz Strasse 22 46325 Borken Germany ============= I R E L A N D ============= IRALCO: Plant May Resume Operations on April 21 ----------------------------------------------- Iralco's plant in Co Westmeath is likely to resume operations on April 21, 2008, Triona Doherty of Athlone Advertiser reports. John Bolger, a union spokesman told Athlone however that the plant's re-opening is dependent on a �positive response� from the company's customers. Liquidators have relayed the message to all of Iralco's customers who all have current contracts with the company which includes Ford, Volvo, Volkswagen, and Bentley, the report added. Athlone quotes Mr. Bolger as saying that the company has a �better chance� of being bought if the plant remains open. The report disclosed that the liquidators have received approaches from interested parties to purchase the company as a going concern. As reported in the Troubled Company Reporter-Europe on April 16, 2008, Iralco said it was going into voluntary liquidation after facing financial difficulties due to increasing costs. The company hired John McStay and Tom Rogers as liquidators on April 14, 2008. Iralco -- http://www.iralco.ie/-- designs and develops decorative and functional trim for all the major automotive OEM�s. The company's product range covers all high visibility trim parts from drip rail systems to pillar cappings and treadplates. ========= I T A L Y ========= ALITALIA SPA: Berlusconi Mulls 3-Way Merger with Air France-KLM --------------------------------------------------------------- Prime Minister-elect Silvio Berlusconi said he might accept an acquisition of Alitalia S.p.A. by Air France-KLM S.A. through a tie-up between the carriers, various reports say. Mr. Berlusconi said Alitalia could be a part of a "three-way merger of equals," referring to becoming a possible third carrier to the merger of Air France and KLM Royal Dutch Airlines, the Associated Press reports. The carriers are currently partners in the SkyTeam Alliance, Bloomberg News notes. The Prime Minister-elect commented that he flew Alitalia despite owning several private jets and coined the slogan, "I love Italy, I fly Alitalia," Reuters relates. Mr. Berluconi also reiterated his remarks that an Italian consortium will present a binding offer for the government's 49.9% stake in Alitalia in less than a month. As previously reported in the TCR-Europe, AirOne S.p.A. has declared it will submit an alternative bid for Alitalia but needs more time to draft a proposal since it was excluded from conducting due diligence on the national carrier. Following his victory at the recently concluded national snap election, Mr. Berlusconi listed Alitalia as his top priority once he assumes post. Mr. Berlusconi had vowed to reject the binding offer presented by Air France-KLM, which according to The Telegraph, would not be willing to restart the talks with the government and would drop its offer. Alitalia, its unions, and Air France have expressed willingness to resume sale negotiations, which was stalled after the parties failed to reach an agreement on the French carrier's offer. Air France CEO Jean Cyril Spinetta said the airline will not submit a new offer, stressing that the plans amended bid presented to unions during the negotiations "is the only one that would enable Alitalia to return to profitable growth within a rapid time frame." About Alitalia Headquartered in Rome, Italy, Alitalia S.p.A. -- http://www.alitalia.it/-- provides air travel services for passengers and air transport of cargo on national, international and inter-continental routes. The Italian government owns 49.9% of Alitalia. The company has operations in Argentina. Despite a EUR1.4 billion state-backed restructuring in 1997, Alitalia posted net losses of EUR256 million and EUR907 million in 2000 and 2001 respectively. Alitalia posted EUR93 million in net profits in 2002 after a EUR1.4 billion capital injection. The carrier booked annual net losses of EUR520 million in 2003, EUR813 million in 2004, EUR168 million in 2005, and EUR625.6 million in 2006. Italian Finance Minister Tommaso Padoa-Schioppa had said that if the sale to Air France fails, Alitalia may seek protection from creditors and the government would appoint a special commissioner to initiate bankruptcy proceedings. FIAT SPA: Fails to Reach Agreement with Union on Transfer --------------------------------------------------------- Fiat SpA was unable to reach an agreement with its unions regarding the transfer of workers at its Pomigliano plant to Nola, Bloomberg reports citing Il Sole 24 Ore. The company had earlier disclosed in its website that as of April 12, 2008, production at the Giambattista Vico plant in Pomigliano, Italy has been significantly impacted by the action organized by a group of workers to prevent components from entering the facility and finished products from leaving. On April 14, the company filed an emergency petition with the court (under Article 700 of the Civil Code of Procedure) requesting that the authorities intervene, using whatever means necessary to put a stop this action, which is illegal in both content and form. The company says that such an action can cause serious economic damage to a business and, if the situation continues, it could undermine the efforts made so far toward the industrial relaunch of the Giambattista Vico plant and its future. The workers suspended their protests during the middle of the week after the company and unions agreed to enter into discussions to resolve the issue, Thomson Financial reports citing Ansa. Bloomberg adds that a meeting has been set for April 23 where the company is expected to assure employees that they will not be laid off. relates. About Fiat Turin, Italy-based Fiat SpA -- http://www.fiatgroup.com/-- (BIT:F) is principally engaged in the design, manufacture and sale of automobiles, trucks, wheel loaders, excavators, telehandlers, tractors and combine harvesters. Through its subsidiaries, Fiat operates mainly in five business areas: Automobiles, including sectors led by Maserati SpA, Ferrari SpA and Fiat Group Automobiles SpA, which design, produce and sell cars under the Fiat, Alfa Romeo, Lancia, Fiat Professional, Abarth, Ferrari and Maserati brands; Agricultural and Construction Equipment, which is led by Case New Holland Global NV; Trucks and Commercial Vehicles, which is led by Iveco SpA; Components and Production Systems, which includes the sectors led by Magneti Marelli Holding SpA, Teksid SpA, Comau SpA and Fiat Powertrain Technologies SpA, and Other Businesses, which includes the sectors led by Fiat Services SpA, a publishing house Editrice La Stampa SpA and an advertising agency Publikompass SpA. Outside Europe, the company has subsidiaries in the United States, Japan, India, China, Mexico, Brazil and Argentina, among others. * * * As of March 13, 2008, Fiat S.p.A. and its subsidiaries carries Ba3 Corporate Family and Senior Unsecured ratings from Moody's Investors Service, which said the outlook is positive. The company carries Standard & Poor's Ratings Services' BB long- term corporate credit rating. The compay also carries B short- term rating. S&P said the outlook is stable. =================== K A Z A K H S T A N =================== AKJOL INTERNATIONAL: Creditors Must File Claims by June 3 --------------------------------------------------------- The Specialized Inter-Regional Economic Court of Kyzylorda has declared LLP Akjol International insolvent. Creditors have until June 3, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Kyzylorda Aiteke bi Str. 29 Kyzylorda Kazakhstan ASPARA LLP: Claims Deadline Slated for June 4 --------------------------------------------- The Specialized Inter-Regional Economic Court of Pavlodar has declared LLP Corporation Aspara insolvent on March 21, 2008. Creditors have until June 4, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Pavlodar Djambulskaya Str. 6 Pavlodar Kazakhstan Tel: 8 (3182) 57-16-66 CITY CENTER: Claims Filing Period Ends June 4 --------------------------------------------- LLP City Center Transport & Logistic has declared insolvency. Creditors have until June 4, 2008, to submit written proofs of claims to: LLP City Center Transport & Logistic Mustafin Str. 22-1 Karaganda Kazakhstan ELTELECOM LLP: Creditors' Claims Due on June 3 ---------------------------------------------- The Specialized Inter-Regional Economic Court of Kyzylorda has declared LLP Eltelecom insolvent. Creditors have until June 3, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Kyzylorda Aiteke bi Str. 29 Kyzylorda Kazakhstan ENERGO MIR: Claims Registration Ends June 4 -------------------------------------------------------------- The Specialized Inter-Regional Economic Court of Kostanai has declared LLP Energo Mir insolvent. Creditors have until June 4, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Kostanai Baitursynov Str. 70 Kostanai Kazakhstan GREEN FIELD: Creditors Must File Claims by June 4 -------------------------------------------------------------- The Specialized Inter-Regional Economic Court of Kostanai has declared LLP Green Field Ltd. insolvent. Creditors have until June 4, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Kostanai Baitursynov Str. 70 Kostanai Kazakhstan LUCKY KZ: Claims Deadline Slated for June 4 ------------------------------------------- The Specialized Inter-Regional Economic Court of Pavlodar has declared LLP Lucky Kz insolvent on March 11, 2008. Creditors have until June 4, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Pavlodar Pobeda ave. 5 Pavlodar Kazakhstan Tel: 8 (3182) 32-38-46 SLAV TRANS: Claims Filing Period Ends June 3 -------------------------------------------- The Specialized Inter-Regional Economic Court of Astana has declared LLP Slav Trans Stroy Service insolvent on Feb. 25, 2008. Creditors have until June 3, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Astana Seifullin Str. 23-33 Almaty Saryarka District Astana Kazakhstan Tel: 8 (7172) 32-51-44 TIM WEST: Creditors' Claims Due on June 3 ----------------------------------------- The Specialized Inter-Regional Economic Court of Kostanai has declared LLP Tim West insolvent on Feb. 28, 2008. Creditors have until June 3, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Kostanai Gogol Str. 177a Kostanai Kazakhstan TRAKTOR-TRADE LLP: Claims Registration Ends June 4 -------------------------------------------------- The Specialized Inter-Regional Economic Court of Astana has declared LLP �TRAKTOR-TRADE� insolvent on Feb. 22, 2008. Creditors have until June 3, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Astana Seifullin Str. 23-33 Almaty &nbs