T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Tuesday, April 22, 2008, Vol. 9, No. 79 Headlines A U S T R I A AGUSI KEG: Claims Registration Period Ends May 20 BIODIESEL ENNS: Files for Insolvency Proceedings in Austria MONASYS LLC: Claims Registration Period Ends May 3 TOYS SPIELWAREN: Claims Registration Period Ends May 15 B U L G A R I A KREMIKOVTZI AD: Arcelor Mittal Confirms Bid F R A N C E AMKOR TECHNOLOGY: Eric Larson Named EVP Product Management Group AMKOR TECHNOLOGY: To Issue 1st Quarter 2008 Results on April 30 AMKOR TECHNOLOGY: Moody's Holds Junk Rating on US$190 Mln Notes THOMSON SA: Reports Revenues of EUR1.016 Billion in 2008 1Q THOMSON SA: To Build New HD Facilities for France 2 G E R M A N Y ALFRED SCHOLTEN: Claims Registration Period Ends May 14 ARIANA GMBH: Claims Registration Period Ends May 9 AUTO-CENTRUM F.U.G.: Claims Registration Period Ends May 9 AUTO SCHNEIDER: Claims Registration Period Ends May 14 BAUUNTERNEHMEN KOETHER: Claims Registration Period Ends May 14 BHG HANDEL: Claims Registration Period Ends May 14 CARAT GRUNDBESITZ: Claims Registration Period Ends May 14 CITY-HAUS BAUGESELLSCHAFT: Claims Registration Ends May 14 D & B DACHDECKEREI: Claims Registration Ends May 15 DORENWENDT BETEILIGUNGS: Claims Registration Period Ends May 12 DREILANDER WELLENBAD: Claims Registration Ends May 6 ERWIN GLASNER: Claims Registration Period Ends May 14 ERWIN LAUBMEIER: Claims Registration Period Ends May 14 FRANZ KARL: Claims Registration Period Ends May 14 GEO-ADVENTURE GMBH: Claims Registration Period Ends May 14 GLASHUETTNER BACKSTUBE: Claims Registration Period Ends April 29 GUSTO ITALIANO: Claims Registration Period Ends May 9 HNA POSTLOGISTIK: Claims Registration Ends May 14 HORST BINDER: Claims Registration Period Ends May 11 INTEGRA ORTENAU: Claims Registration Period Ends May 10 JOSEPH SCHWEND: Claims Registration Ends May 14 PHG SPEDITIONS: Claims Registration Ends May 14 PRO FUTURE: Claims Registration Period Ends May 10 SAUNA - FREIZEITTREFF: Claims Registration Period Ends May 10 SCHMAUSS GMBH: Claims Registration Period Ends May 9 SEMERKANT GMBH: Claims Registration Period Ends May 10 SKOTTY GMBH: Claims Registration Ends May 14 TOURISTIK SERVICE: Claims Registration Period Ends May 9 UNION SG: Claims Registration Period Ends May 12 WESTLB AG: Mandates Joint Leads for Public Jumbo Pfandbrief WESTIS CAR: Claims Registration Ends May 14 H U N G A R Y CLEAR CHANNEL: Unit Wins Nine-Year Contract for Budapest Airport I R E L A N D ARDAGH GLASS: Improved Performance Cues S&P to Lift Rating to B+ I T A L Y ALITALIA SPA: Air France-KLM Formally Withdraws Binding Offer ALITALIA SPA: OAO Aeroflot to Resume Talks over Italy's Stake FIAT SPA: Targets In Line With Expectations Amid Poor Car Market PARMALAT SPA: Cannot Seek Damages vs Banks, Says Milan Court K A Z A K H S T A N ALKE-BURVODSTROY LLP: Creditors Must File Claims by June 10 BTA BANK: Earns US$538 Million for Financial Year 2007 HAVEN HOUSE: Claims Deadline Slated for June 6 HI ESPES: Claims Filing Period Ends June 10 JILSTROY-DSH LLP: Creditors' Claims Due on June 6 KAIRAT-ALMATY KTJ: Claims Registration Ends June 10 SMILE ASTANA: Claims Deadline Slated for June 6 TSENTR TRAKTORNYH: Claims Filing Period Ends June 6 K Y R G Y Z S T A N ACTIVESTROY LLC: Creditors Must File Claims by June 6 N E T H E R L A N D S SHAW GROUP: Earns US$8.9 Million in Quarter Ended February 29 R U S S I A AGRODAR OJSC: Court Names Sh. Dzhabrailova as Insolvency Manager BAYKAL-BALTIC TIMBER: Names I. Osipov as Insolvency Manager CRYSTAL LLC: Creditors Must File Claims by May 22 KARBO LLC: Moscow Bankruptcy Hearing Slated for August 12 KHOLOD-MASH OJSC: Court Names V. Shemigon as Insolvency Manager MIRAX GROUP: Fitch Maintains Watch on Liquidity Concerns NOVO-ZHULANSKOE: Creditors Must File Claims by May 22 PROKHOROVKA-AGRO-PROM-KHIMIYA: Claims Filing Period Ends May 22 ROSNEFT OAO: To Close US$3.43 Billion Loan This Week STROY-CENTRE LLC: Creditors Must File Claims by May 22 VIMPEL-COMMUNICATIONS: S&P Rates New U.S. Dollar Notes at BB+ S P A I N BRITISH AIRWAYS: May Start Spain-U.S. Flights in June 2008 IM CAIXA GIRONA: Moody's Junks Rating on EUR58.4 Million Notes S W I T Z E R L A N D BFW JSC: Creditors' Liquidation Claims Due by May 2 MART JSC: Creditors' Liquidation Claims Due by May 3 P.SIGRIST JSC: Creditors' Liquidation Claims Due by May 3 Q SCIENCE: Creditors' Liquidation Claims Due by May 3 Q SCIENCE HOLDING: Creditors' Liquidation Claims Due by May 3 TUFEKCI JSC: Aargau Court Starts Bankruptcy Proceedings WACKER-CHEMIE: Creditors' Liquidation Claims Due by May 3 WEID LLC: Lucerne Court Starts Bankruptcy Proceedings WV-METALL JSC: Creditors' Liquidation Claims Due by May 2 U K R A I N E AGROSERVICE OJSC: Creditors Must File Claims by May 7 AUTOTRANS OJSC: Creditors Must File Claims by May 7 MOGILEV-PODOLSKY MILK: Proofs of Claim Deadline Set May 7 NOVOREVA LLC: Creditors Must File Claims by May 7 PIVDENNY CJSC: Creditors Must File Claims by May 7 TANDEM-TC LLC: Creditors Must File Claims by May 7 ZOLOTIYE PESKI: Proofs of Claim Deadline Set May 8 U N I T E D K I N G D O M A CONNECTION: Brings In Liquidators from PKF AMPEX CORP: Files 2007 Annual Report on Form 10-K with SEC AMPEX CORP: Discloses Terms of Chapter 11 Reorganization Plan BRITISH AIRWAYS: May Start Spain-U.S. Flights in June 2008 BRITISH ENERGY: France's Suez Mulls Takeover Bid CLEAR CHANNEL: Extends Offers' Expiration Date to April 25 CU29 HOLDINGS: Taps Liquidators from Deloitte & Touche FEDDERS CORP: Wants Plan-Filing Period Stretched to May 31 GENESIS BRADFORD: Appoints Begbies to Administer Assets I.T.C. INTERCIRCUIT: Appoints Matthew Colin Bowker as Liquidator JENKINS REPORTS: Hires Liquidators from Vantis NEWCASTLE PRAM: Claims Filing Period Ends May 12 NORTHUMBERLAND STREET: Calls In Liquidators from Tenon Recovery PORTRAITS FOR YOU: Claims Filing Period Ends May 9 PRO-FIT HOLDINGS: Taps Joint Administrators from Begbies Traynor RAMAGE DISTRIBUTION: Appoints KPMG as Joint Administrators SUBSEA RESOURCES: Brings In Kroll to Administer Assets TDM TRADING: Neil Francis Hickling Leads Liquidation Procedure TRM CORP: McGladrey & Pullen Expresses Going Concern Doubt TRM CORP: Closes LC Capital & Lampe Conway Financing Agreement TRM CORP: Acquires "Access To Money" for US$15 Million * Large Companies with Insolvent Balance Sheet ********* ============= A U S T R I A ============= AGUSI KEG: Claims Registration Period Ends May 20 ------------------------------------------------- Creditors owed money by KEG AGUSI (FN 279891f) have until May 20, 2008, to file written proofs of claim to court-appointed estate administrator Wolfgang Herzer at: Mag. Wolfgang Herzer Schuettelstrasse 55 Carre Rotunde 1020 Vienna Austria Tel: 72 577 Fax: 72 577 577 E-mail: wolfgang.herzer@blw-legal.com Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:55 a.m. on June 3, 2008, for the examination of claims. The meeting of creditors will be held at: The Trade Court of Vienna Room 1607 Vienna Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on April 3, 2008 (Bankr. Case No. 28 S 50/08v). BIODIESEL ENNS: Files for Insolvency Proceedings in Austria ----------------------------------------------------------- Fortune Management Inc. disclosed that Biodiesel Enns GmbH & Co. KG filed for insolvency on April 15, 2008. The insolvency filing was due to the decision of lending bank Raiffeisenlandesbank Oberoesterreich AG denying Biodiesel the use of an already established credit line. As a result, the current negotiations for the raw material supply, which would have secured the survival of the company, failed. Raiffeisenlandesbank is the parent company of Invest AG, a stakeholder of the company. About 30 employees are likely to be affected by the filing. Gate Group, which invested more than EUR13 million in Biodiesel, said that other Gate-companies outside of Austria are not affected by the insolvency. Headquartered in Enns, Austria, Biodiesel Enns GmbH & Co. KG is a refinery with annual capacity of about 100,000 tons of biodiesel. It is 51% owned by Neckermann Renewables GmbH, a subsidiary of Gate Group, which is 65% owned by Switzerland- based Fortune management. The remaining 49% of Biodiesel Enns are owned by Invest AG. MONASYS LLC: Claims Registration Period Ends May 3 -------------------------------------------------- Creditors owed money by LLC MoNaSys (FN 262769a) have until May 3, 2008, to file written proofs of claim to court-appointed estate administrator Rudolf Hartmann at: Dr. Rudolf Hartmann Raiffeisenstrasse 58 6713 Ludesch Austria Tel: 05550/20333 Fax: 05550/20333-9 E-mail: ra.hartmann@manget.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 11:00 a.m. on May 8, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Feldkirch Meeting Room 45 First Floor Feldkirch Austria Headquartered in Bludenz, Austria, the Debtor declared bankruptcy on April 3, 2008 (Bankr. Case No. 14 S 14/08h). TOYS SPIELWAREN: Claims Registration Period Ends May 15 ------------------------------------------------------- Creditors owed money by LLC TOYS Spielwaren Diskont (FN 46971a) have until May 15, 2008, to file written proofs of claim to court-appointed estate administrator Guenther Viehboeck at: Dr. Guenther Viehboeck c/o Mag. Maria Christina Nau Bahnhofsplatz 1a/Stg.1/Top 5 2340 Moedling Austria Tel: 02236/22 050 Fax: 02236/49239 E-mail: office@viehboeck.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:30 a.m. on May 29, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Wiener Neustadt Room 15 Wiener Neustadt Austria Headquartered in Voesendorf, Austria, the Debtor declared bankruptcy on April 3, 2008 (Bankr. Case No. 10 S 35/08p). Maria Christina Nau represents Dr. Viehboeck in the bankruptcy proceedings. =============== B U L G A R I A =============== KREMIKOVTZI AD: Arcelor Mittal Confirms Bid ------------------------------------------- Arcelor Mittal confirmed its interest in Kremikovtzi AD at a meeting with Bulgarian Economy and Energy Minister Petar Dimitrov, Seeurope.net reports citing Dnevnik. Citing a source from Arcelor, the report said the company is aware of the Kremikovtzi's situation and is ready to step in. However, the source did not disclose the status of the acquisition talks nor confirmed if Arcelor leads the bidding. A government representative told Dnevnik that the talks are "strained" and may not reach conclusion soon, the report said. According to the report, the deal is being held back by the bond issue. As previously reported in the TCR-Europe, Mr. Dimitrov had said that a bankruptcy or liquidation of the company is not an option. In a statement, Mr. Dimitrov mentioned an option to lease the mill until they work out the change in ownership for the company, Seeurope relates. The Bulgarian government, a 25% shareholder, arranged the ramped down of Kremikovtzi's gas supplies as part of its attempt to force Mr. Mittal to sell Finmetals Holdings, a 17% shareholder in Kremikovtzi. Mr. Dimitrov explained that the government's moves pre-empt a siphoning-off the company through the overpriced purchases and delayed payments to state payments to state-owned utilities. Based in Rotterdam, The Netherlands, ArcelorMittal was formed in 2004 when Ispat International purchased LNM Holdings for US$13 billion. The combined entity stood as the largest steel company in the world, with annual steel production of 50 million tons. The Company manufactures flat rolled and long steel products using direct-reduced iron. Headquartered in Sofia, Bulgaria, Kremikovtzi AD -- http://www.kremikovtzi.com/-- is a single-site steel producer in Bulgaria that reported BGN896 million in revenues in 2006. It explores and produces iron and ore fields. * * * Kremikovtzi AD carries Moody's Investors Service corporate family rating of Caa3 and the rating on its EUR325 million senior secured guaranteed notes at Bulgaria Steel Finance BV to Caa3/LGD 4(53). The outlook is developing. =========== F R A N C E =========== AMKOR TECHNOLOGY: Eric Larson Named EVP Product Management Group ---------------------------------------------------------------- Amkor Technology, Inc. said that Eric Larson has joined the company as Executive Vice President Product Management Group, effective April 14, 2008. Larson, 52, will report to Ken Joyce, Amkor�s Chief Operating Officer, and will have overall management responsibility for Amkor�s Product Business Units, including Wirebond Products, Wafer-Level Processing and Flip- Chip Products, Test Services, R&D, Emerging Technologies and Corporate Development. Larson brings more than 24 years of semiconductor and technology sector leadership experience to his new role. Larson started his career at Hewlett Packard where he worked for 17 years in a number of senior management positions including General Manager of the Integrated Circuits Business Division and General Manager of the Mobile Business Operation. He also served 7 years in senior management positions at Amkor from 1996 to 2003, including as President of our Wafer Fabrication business and Executive Vice President of Corporate Development. Larson is re-joining Amkor after having served in executive management positions with several start-up ventures. �We are pleased to have Eric join Amkor�s executive management team,� said James Kim, Amkor�s Chairman and Chief Executive Officer. �Having worked closely with Eric in the past, I have first hand knowledge of his strong work ethic and team building skills. I have great confidence in Eric�s ability to lead our product business units in delivering innovative and cost effective packaging and test solutions to our customers.� �I am delighted to welcome an executive of Eric�s caliber to Amkor,� said Ken Joyce. �Eric brings extensive semiconductor industry knowledge, business acumen and leadership skills to our existing team of talented and experienced product business unit managers.� About Amkor Headquartered in Chandler, Arizona, Amkor Technology, Inc. (Nasdaq: AMKR) -- http://www.amkor.com/-- is a provider of semiconductor assembly and test services. The company offers semiconductor companies and electronics OEMs a complete set of microelectronics design and manufacturing services. Outside the United States, the company has wholly-owned subsidiaries in Honk Kong, France, Japan, Singapore, the British Cayman Islands and Netherlands. AMKOR TECHNOLOGY: To Issue 1st Quarter 2008 Results on April 30 --------------------------------------------------------------- Amkor Technology, Inc. said that it will issue its financial results for the first quarter of 2008 after the close of trading on the NASDAQ Global Market on Wednesday, April 30, 2008. At 5:00pm Eastern Time, Amkor management will host a conference call to discuss the company�s financial results. This call is being webcast by Thomson Financial and can be accessed at Amkor�s web site. Interested parties may also access the call by dialing 303-205-0033. About Amkor Headquartered in Chandler, Arizona, Amkor Technology, Inc. (Nasdaq: AMKR) -- http://www.amkor.com/-- is a provider of semiconductor assembly and test services. The company offers semiconductor companies and electronics OEMs a complete set of microelectronics design and manufacturing services. Outside the United States, the company has wholly-owned subsidiaries in Honk Kong, France, Japan, Singapore, the British Cayman Islands and Netherlands. AMKOR TECHNOLOGY: Moody's Holds Junk Rating on US$190 Mln Notes --------------------------------------------------------------- Moody's Investors Service affirmed Amkor Technology, Inc.'s corporate family (B2), long-term debt (B1 senior unsecured; Caa1 senior subordinated) and speculative-grade liquidity (SGL-2) ratings and revised the outlook to positive. The positive ratings outlook reflects Amkor's improved operating and financial performance with continued free cash flow generation against the backdrop of favorable industry fundamentals. It also reflects Moody's expectations that Amkor will continue to demonstrate a stable to improving credit profile as a result of better operating and financial discipline. Despite likely near-term consumer electronics end market demand weakness, the positive outlook anticipates the company will continue to benefit from a favorable business environment for OSAT services, relatively stable pricing in leading edge packaging solutions and continued demand for its advanced products. Ratings could experience upward pressure over the next 6-12 months if Amkor: (1) continues to sustain its track record of maintaining profitability and achieving anticipated financial and operating performance resulting in operating margins of 12-15% over a semiconductor cycle; (ii) continues to sustain a fixed cost structure such that it is able to generate sufficient free cash flow allowing it to build/maintain cash reserves to comfortably service intermediate debt maturities through 2011; (iii) repays debt prior to scheduled maturities; or (iv) is able to source or convert a sufficient amount of equity capital, such that debt to book capital is consistent with mid/high single-B rated technology peers. Over the past two years, the company's improved operating performance has led to EBITDA growth, margin expansion, and solid free cash flow generation applied to debt reduction (to US$1.76 billion at year end 2007 down from US$2.14 billion in 2005), resulting in improved credit protection measures. Financial leverage, as measured by debt to EBITDA, was 2.8x as of December 2007, which is comparable to B1-rated industry peers, thus lending additional support to the positive outlook. In February 2008, Amkor retired US$88 million of senior notes, further reducing leverage. Liquidity remains good, with cash balances of US$410 million at Dec. 31, 2007 plus access to an unused US$100 million secured revolving credit facility maturing November 2009, for which covenant compliance is expected over the next year. Combined with our expectations of stable to improving annual free cash flow (US$368 million on a Moody's adjusted basis for the twelve months ended Dec. 31, 2007) and improved financial flexibility, Amkor is well positioned to maintain leverage near current levels. Given that Amkor is strongly positioned within the B2 rating category, the rating can tolerate temporary financial leverage weakness as a result of possible fluctuations in EBITDA over the next twelve months due to end market demand softness. These ratings were affirmed and assessments revised: -- Corporate Family Rating -- B2; -- Probability of Default Rating -- B2; -- US$1,061 Million Senior Unsecured Notes with various maturities -- B1 (LGD-3, 44%); -- US$190 Million 2.5% Convertible Senior Subordinated Notes due 2011�Caa1 (LGD-6, 90%); -- Speculative Grade Liquidity Rating -- SGL-2. The ratings outlook is positive. Chandler, AZ-based Amkor Technology, Inc. is one of the largest providers of contract semiconductor assembly and test services for integrated semiconductor device manufacturers as well as fabless semiconductor operators. Revenues and EBITDA (Moody's adjusted) for the twelve months ended December 2007 were US$2.7 billion and US$669 million, respectively. THOMSON SA: Reports Revenues of EUR1.016 Billion in 2008 1Q ----------------------------------------------------------- The Board of Directors of Thomson, chaired by Francois de Carbonnel, met on April 14, 2008 to review revenues for the quarter ending March 31, 2008, an initial action plan from the management team, the Group�s dividend policy, and the outlook for the Group. Thomson reported total revenues of EUR1,016 million for the quarter compared to EUR1,243 million in the first quarter of 2007. Currency movements were significant and decreased revenues during the quarter by EUR90 million. The company says that revenues at constant currency were therefore EUR1,106 million, a decrease of 11% year-on-year. Initial Actions -- Management details near-term actions intended to simplify the Group and improve its profitability. -- The Group targets a reduction in operating costs during the course of the year of approximately EUR50 million, on an annualized basis. These will include a wide range of process improvements, IT upgrades and restructuring measures. -- The Group has reviewed the loss-making silicon activities within the Technology Division. The Group aims to take out approximately EUR30 million of costs (on an annualized basis) within the next six months through a combination of partnerships and reorganization. The costs of these actions are expected to be in the region of EUR35 million. Dividend Policy -- The Board supports the management team's recommendation that financial resources should be directed in the near- term towards actions to simplify the Group and to improve its profitability. Given this and the increasingly uncertain global economic and financial environment, the Board has reviewed the Group's dividend policy and will no longer propose a dividend of EUR0.33 (announced on Feb. 14, 2008). The Board also believes that shareholder value is being compromised by external speculation regarding the Group's credit position, which the Board believes to be ill-considered. The Group's credit position is enhanced by the action to cut the dividend. The Group has cash generative businesses and the Board therefore expects a dividend to play a key part in remunerating shareholders in the future. Outlook -- Recent weeks have seen a modest improvement in business conditions. However, in the current climate of economic uncertainty the Group remains cautious on outlook. The company currently expect revenues for 2Q08 to decline year-on-year, by 6-8% in constant currency terms. -- The Group expects to report a loss from continuing activities before interest and taxation for the 1H08, given the management decision to take further restructuring actions in H1, but to be profitable at the operating profit level (ie prior to restructuring costs). -- The Group's performance is expected to be seasonally weighted towards the second half as in previous years. The Group will comment further on its expectations for the first half and full year at the AGM on May 22, 2008. "The first quarter reflects the difficult economic conditions, notably in the US, under which our sector is operating. Some of our customers are showing greater optimism for the second quarter and this gives us opportunities that we are determined to seize. Our profitability is unsatisfactory and we are accordingly moving ahead with a set of actions to simplify the Group and improve its profitability. This will enable us to focus our resources on key value-added services, systems and technologies, which support our customers' needs," Julian Waldron, CEO and CFO of Thomson, said. "The Board firmly believes in the quality of the assets and people at Thomson and their value-added to our clients. We and the management team are firmly focused on delivering long-term, sustainable value to our shareholders. The initial steps we are taking today, both with regard to the dividend and the management's action plans, although difficult, are consistent with this aim," Francois de Carbonnel, Chairman of Thomson, added. Debt and Financing As previously announced, the Group raised EUR70 million of new long-term debt during the quarter. The Board continues to believe that the Group has sufficient liquidity to refinance its short-term and long-term debt falling due in 2008 and 2009. Given the Group's current policy of debt financing largely in US$ and predominantly at floating rates, the Group expects a significant reduction in its net interest expense in 2008, notwithstanding recent changes to its credit ratings. The Group notes that the decision taken by the Board not to propose a dividend to be paid in 2008 does not imply non-payment of the next coupon on the EUR500 million perpetual bond, such decision being due in September 2008. Board Composition The Board has finalized the resolutions to be submitted to the Annual General Meeting to be held on May 22, 2008. The Directors whose mandates are proposed for renewal are: -- Loic Desmouceaux, -- Pierre Lescure, -- Didier Lombard, -- Dave Roux, -- Remy Sautter and -- Henry Vigil. Following the AGM the Board would then comprise ten directors, of whom nine would be independent directors and one would be a representative of the employee shareholders. The company adds that the The mandates of Francois de Carbonnel, Marcel Roulet, Paul Murray and Eric Bourdais de Charbonni�re will fall due for renewal in 2009, 2009, 2010 and 2011 respectively. About Thomson Thomson SA -- http://www.thomson.net/-- (Euronext Paris: 18453; NYSE: TMS) provides technology, services, and systems to help its Media, Entertainment & Communications clients - content creators, content distributors and users of its technology - realize their business goals and optimize their performance in a rapidly changing technology environment. * * * As reported in the Troubled Company Reporter on April, 21, 2008, Moody's Investor's Service downgraded the Corporate Family rating for Thomson S.A. to Ba2 from Ba1 and downgraded the junior subordinated rating for Thomson's perpetual junior subordinated bonds to B2 from Ba3. The outlook remains negative. THOMSON SA: To Build New HD Facilities for France 2 --------------------------------------------------- France 2, owned and operated by the France Television Group, has chosen Thomson S.A. to build a new high-definition studio and control room in Paris. The station's new HD channel, the result of a US$3.1 million upgrade to its facilities and equipment, will be on-air by August 27 of this year. Thomson has been contracted to provide a full range of services to the new France 2 HD project; including system design, installation, staff training and 24/7 customer service. "We know that Thomson has the expertise, the team organization, and resources to get the job done right � and on time," Bruno Tezenas du Montcel, CTO at France 2, said. "Thomson engineers completed the transition of France 2 from an analog to digital operation in 1998 and we are confident that with Thomson's help we will meet our on-air deadline and have a system that we can grow with and expand into the future." "France 2 is another major broadcaster in Europe to entrust its HD business to Thomson. This new facility for France 2 will not only prepare them for the future, but uses equipment already installed to maximize their capital expenditures," Patrick Montliaud, Senior Vice President of Thomson's Integration and Network Solutions, within the Systems division, said. "All over Europe broadcasters are gearing up for the transition to HD and Thomson is in a unique position to provide to our customers an extensive Systems know how and our technology to improve their businesses and give them the competitive edge to succeed in the broadcast marketplace." Among the many pieces of Thomson Grass Valley(TM) HD production equipment being installed as part of the new upgrade are two HD video production switchers (Kayak(TM)) and a HD router (Trinix(TM)). France 2 will also use an existing Grass Valley control panel (XtenDD) in tandem with the new switchers. Thomson was chosen as the system integrator based on its performance on a number of other projects which it had completed for France 2 and the short timetable that was required to finish the buildout. The project was started at the end of March. About Thomson Thomson SA -- http://www.thomson.net/-- (Euronext Paris: 18453; NYSE: TMS) provides technology, services, and systems to help its Media, Entertainment & Communications clients - content creators, content distributors and users of its technology - realize their business goals and optimize their performance in a rapidly changing technology environment. * * * As reported in the Troubled Company Reporter on April, 21, 2008, Moody's Investor's Service downgraded the Corporate Family rating for Thomson S.A. to Ba2 from Ba1 and downgraded the junior subordinated rating for Thomson's perpetual junior subordinated bonds to B2 from Ba3. The outlook remains negative. ============= G E R M A N Y ============= ALFRED SCHOLTEN: Claims Registration Period Ends May 14 ------------------------------------------------------- Creditors of Alfred Scholten Architektur-und Ingenieurbuero GmbH have until May 14, 2008, to register their claims with court- appointed insolvency manager Dr. Frank Nikolaus. Creditors and other interested parties are encouraged to attend the meeting at 1:00 p.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 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. Frank Nikolaus Alfredstr. 108-112 45131 Essen Germany The District Court of Essen opened bankruptcy proceedings against Alfred Scholten Architektur-und Ingenieurbuero GmbH on March 31, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Alfred Scholten Architektur-und Ingenieurbuero GmbH Brosweg 16-18 45239 Essen Germany ARIANA GMBH: Claims Registration Period Ends May 9 -------------------------------------------------- Creditors of ARIANA GmbH have until May 9, 2008, to register their claims with court-appointed insolvency manager Karina Schwarz. Creditors and other interested parties are encouraged to attend the meeting at 2:00 p.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 Hannover Hall 226 Second Upper Floor Service Bldg. Hamburger Allee 26 30161 Hannover 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: Karina Schwarz Ernst-August-Platz 10 30159 Hannover Germany Tel: 0511 475339-0 Fax: 0511 475339-9 The District Court of Hannover opened bankruptcy proceedings against ARIANA GmbH on April 7, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: ARIANA GmbH Juister Weg 7 30163 Hannover Germany Attn: Heinz Noltenhans, Manager Nuernberger Str. 1 30880 Laatzen Germany AUTO-CENTRUM F.U.G.: Claims Registration Period Ends May 9 ---------------------------------------------------------- Creditors of Auto-Centrum F.U.G. GmbH Osnabrueck have until May 9, 2008, to register their claims with court-appointed insolvency manager Klaus Niemeyer. Creditors and other interested parties are encouraged to attend the meeting at 9:50 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 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: Klaus Niemeyer Schillerstr. 20 49074 Osnabrueck Germany Tel: 0541 / 33 85 00 Fax: 0541 / 33 850-50 The District Court of Osnabrueck opened bankruptcy proceedings against Auto-Centrum F.U.G. GmbH Osnabrueck on April 7, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Auto-Centrum F.U.G. GmbH Osnabrueck Pagenstecher Strasse 74 49090 Osnabrueck Germany Attn: Wolfgang Lukowski, Manager Vordermuehlebach 8 6375 Beckenried/NW Schweiz Germany AUTO SCHNEIDER: Claims Registration Period Ends May 14 ------------------------------------------------------ Creditors of Auto Schneider Radebeul GmbH have until May 14, 2008, to register their claims with court-appointed insolvency manager Dr. Rolf-Dieter Moenning. 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 Dresden Hall D131 Olbrichtplatz 1 01099 Dresden Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Rolf-Dieter Moenning Heideparkstrasse 4 01099 Dresden Germany The District Court of Dresden opened bankruptcy proceedings against Auto Schneider Radebeul GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Auto Schneider Radebeul GmbH Koetzschenbroder Strasse 193 01139 Dresden Germany BAUUNTERNEHMEN KOETHER: Claims Registration Period Ends May 14 -------------------------------------------------------------- Creditors of Bauunternehmen Koether GmbH have until May 14, 2008, to register their claims with court-appointed insolvency manager Stefan Neugebauer. Creditors and other interested parties are encouraged to attend the meeting at 11:00 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 Goslar House II- Kaiserbleek 8 38640 Goslar Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Stefan Neugebauer Albert-Schweitzer-Str. 6 38226 Salzgitter Germany Tel: 05341/17808-3 Fax: 05341/17808-7 The District Court of Goslar opened bankruptcy proceedings against Bauunternehmen Koether GmbH on March 12, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Bauunternehmen Koether GmbH Attn: Michal Geng u. Martin Schoenewald, Neustadt 1C 38729 Hahausen Germany BHG HANDEL: Claims Registration Period Ends May 14 -------------------------------------------------- Creditors of BHG Handel mit Baustoffen GmbH have until May 14, 2008, to register their claims with court-appointed insolvency manager Dr. Volkhard Frenzel. Creditors and other interested parties are encouraged to attend the meeting at 11:00 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 Dessau-Rosslau Hall 121 Willy Lohmann Str. 33 Dessau Rosslau 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. Volkhard Frenzel Magdeburger Strasse 23 06112 Halle Germany Tel: 0345/2311111 Fax: 0345/2311199 The District Court of Dessau-Rosslau opened bankruptcy proceedings against BHG Handel mit Baustoffen GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: BHG Handel mit Baustoffen GmbH Am Eichengarten 15 06842 Dessau-Rosslau Germany CARAT GRUNDBESITZ: Claims Registration Period Ends May 14 --------------------------------------------------------- Creditors of Carat Grundbesitz GmbH & Co. KG have until May 14, 2008, to register their claims with court-appointed insolvency manager Harald Silz. Creditors and other interested parties are encouraged to attend the meeting at 10:15 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 Wiesbaden Hall E 36 A Third Floor Building E Moritzstrasse 5 65185 Wiesbaden Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Harald Silz Adolfsallee 24 65185 Wiesbaden Germany Tel: 0611-150 40 Fax: 0611-301 774 The District Court of Wiesbaden opened bankruptcy proceedings against Carat Grundbesitz GmbH & Co. KG on March 14, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Carat Grundbesitz GmbH & Co. KG Am Klingenweg 13 65396 Walluf Germany CITY-HAUS BAUGESELLSCHAFT: Claims Registration Ends May 14 ---------------------------------------------------------- Creditors of City-Haus Baugesellschaft mbH have until May 14, 2008, to register their claims with court-appointed insolvency manager Udo Feser. Creditors and other interested parties are encouraged to attend the meeting at 11:00 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 Frankfurt (Oder) Hall 401 Muellroser Chaussee 55 15236 Frankfurt (Oder) Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Udo Feser Uhlandstrass�e 165/166 10719 Berlin Germany The District Court of Frankfurt (Oder) opened bankruptcy proceedings against City-Haus Baugesellschaft mbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: City-Haus Baugesellschaft mbH Alte Dorfstrasse 11a 15345 Altlandsberg Germany D & B DACHDECKEREI: Claims Registration Ends May 15 --------------------------------------------------- Creditors of D & B Dachdeckerei GmbH have until May 15, 2008 to register their claims with court-appointed insolvency manager Sebastian Laboga. Claims will be verified at 10:05 a.m. on July 10, 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: Sebastian Laboga Einemstr. 24 10785 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against D & B Dachdeckerei GmbH on Feb. 13, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: D & B Dachdeckerei GmbH Falkenhagener Str. 21 13585 Berlin Germany DORENWENDT BETEILIGUNGS: Claims Registration Period Ends May 12 --------------------------------------------------------------- Creditors of Dorenwendt Balkonsysteme GmbH & Co. KG have until May 12, 2008, to register their claims with court-appointed insolvency manager Peter Staufenbiel. Creditors and other interested parties are encouraged to attend the meeting at 3:00 p.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 Jena Room 91 Jena 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 Staufenbiel Untermarkt 12 99974 Muehlhausen Germany The District Court of Jena opened bankruptcy proceedings against Dorenwendt Balkonsysteme GmbH & Co. KG on March 11, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Dorenwendt Balkonsysteme GmbH & Co. KG Attn: Wolfgang Dorenwendt, Manager Dingelstadter Strasse 4 37359 Wachstedt Germany DREILANDER WELLENBAD: Claims Registration Ends May 6 ---------------------------------------------------- The court-appointed insolvency manager for Dreilander Wellenbad GmbH, Karl Kasser will present his first report on the Company's insolvency proceedings at a creditors' meeting at 10:00 a.m. on May 6, 2008. The meeting of creditors and other interested parties will be held at: The District Court of Passau Meeting Hall 6 Ground Floor Schustergasse 4 Passau Germany The Court will also verify the claims set out in the insolvency manager's report at 9:00 a.m. on July 8, 2008 at the same venue. Creditors have until May 15, 2008 to register their claims with the court-appointed insolvency manager. The insolvency manager can be reached at: Karl Kasser Rathausgasse 5 94481 Grafenau Germany Tel: 08552/1066-7 The District Court of Passau opened bankruptcy proceedings against Dreilander Wellenbad GmbH on March 25, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Dreilander Wellenbad GmbH Dorfstr. 47-50 94089 Neureichenau Germany ERWIN GLASNER: Claims Registration Period Ends May 14 ----------------------------------------------------- Creditors of Erwin Glasner Stuckgeschaft GmbH have until May 14, 2008, to register their claims with court-appointed insolvency manager Dr. Winfried Andres. Creditors and other interested parties are encouraged to attend the meeting at 1:25 p.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 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. Winfried Andres Heinrich-Held-Str. 16 45133 Essen Germany The District Court of Essen opened bankruptcy proceedings against Erwin Glasner Stuckgeschaft GmbH on March 30, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Erwin Glasner Stuckgeschaft GmbH Graf-Zeppelin-Str. 116 45219 Essen Germany ERWIN LAUBMEIER: Claims Registration Period Ends May 14 ------------------------------------------------------- Creditors of Erwin Laubmeier Steinmetz GmbH have until May 14, 2008, to register their claims with court-appointed insolvency manager Rainer U. Mueller. Creditors and other interested parties are encouraged to attend the meeting at 9:00 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 Augsburg Meeting Hall 162 Alten Einlass 1 86150 Augsburg 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: Rainer U. Mueller Schiessstattenstr. 15 86159 Augsburg Germany The District Court of Augsburg opened bankruptcy proceedings against Erwin Laubmeier Steinmetz GmbH on March 6, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Erwin Laubmeier Steinmetz GmbH Am Wasserberg 12 86441 Zusmarshausen Germany FRANZ KARL: Claims Registration Period Ends May 14 -------------------------------------------------- Creditors of Franz Karl GmbH have until May 14, 2008, to register their claims with court-appointed insolvency manager Dr. Christoph Junker. Creditors and other interested parties are encouraged to attend the meeting at 9:15 a.m. on 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 Chemnitz Hall 24 Fuerstenstrasse 21-23 09130 Chemnitz Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Christoph Junker Horst-Menzel-Strasse 12-22 09112 Chemnitz Germany Tel: (0371) 3550505 Fax: (0371) 3550515 E-mail: chemnitz@junker-kollegen.de The District Court of Chemnitz opened bankruptcy proceedings against Franz Karl GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Franz Karl GmbH Attn: Andrea Blank und Anne Blank Scharfensteiner Strasse 25 09430 Venusberg Germany GEO-ADVENTURE GMBH: Claims Registration Period Ends May 14 ---------------------------------------------------------- Creditors of Geo-Adventure GmbH have until May 14, 2008, to register their claims with court-appointed insolvency manager Hendrik Gittermann. Creditors and other interested parties are encouraged to attend the meeting at 10:20 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 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: Hendrik Gittermann Am Sandtorkai 62 20457 Hamburg Germany The District Court of Hamburg opened bankruptcy proceedings against Geo-Adventure GmbH on March 7, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Geo-Adventure GmbH Gasstrasse 12 22761 Hamburg Germany GLASHUETTNER BACKSTUBE: Claims Registration Period Ends April 29 ---------------------------------------------------------------- Creditors of Glashuettner Backstube GmbH have until April 29, 2008, to register their claims with court-appointed insolvency manager Matthias Hofmann. Creditors and other interested parties are encouraged to attend the meeting at 8:30 a.m. on May 14, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Bayreuth Meeting Hall 520 Friedrichstr. 18 Bayreuth 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 Hofmann Richard-Wagner-Strasse 64 95444 Bayreuth Germany Tel: 0921/76400-0 Fax: 0921/76400-11 The District Court of Bayreuth opened bankruptcy proceedings against Glashuettner Backstube GmbH on April 8, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Glashuettner Backstube GmbH Bayreuther Str. 24 95496 Glashuetten Germany GUSTO ITALIANO: Claims Registration Period Ends May 9 ----------------------------------------------------- Creditors of Gusto Italiano GmbH & Co. KG have until May 9, 2008, to register their claims with court-appointed insolvency manager Christian Plail. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.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 Augsburg Law Courts Meeting Room 162 Alten Einlass 1 86150 Augsburg 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 Plail Eserwallstr. 1 - 3 86150 Augsburg Germany The District Court of Augsburg opened bankruptcy proceedings against Gusto Italiano GmbH & Co. KG on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Gusto Italiano GmbH & Co. KG Attn: Andreas Mueller, Manager Oberer Graben 51 86152 Augsburg Germany HNA POSTLOGISTIK: Claims Registration Ends May 14 ------------------------------------------------- Creditors of HNA Postlogistik GmbH have until May 14, 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 11:00 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 Cologne Meeting Hall 14 Ground 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 HNA Postlogistik GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: HNA Postlogistik GmbH Attn: Jakob Mies and Joerg Wullkopf, Managers Frankfurter Str. 168 34121 Kassel Germany HORST BINDER: Claims Registration Period Ends May 11 ---------------------------------------------------- Creditors of Horst Binder Oelbrenner und Wartungs-GmbH have until May 11, 2008, to register their claims with court- appointed insolvency manager Thomas Kuehn. Creditors and other interested parties are encouraged to attend the meeting at 10:30 a.m. on July 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 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: Thomas Kuehn Luetzowstr. 100 10785 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Horst Binder Oelbrenner und Wartungs-GmbH on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Horst Binder Oelbrenner und Wartungs-GmbH Antonienstr. 39 13403 Berlin Germany INTEGRA ORTENAU: Claims Registration Period Ends May 10 ------------------------------------------------------- Creditors of Integra Ortenau GmbH have until May 10, 2008, to register their claims with court-appointed insolvency manager Heike Simon. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on June 20, 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 Offenburg Hall 0005 Hindenburgstr. 5 77654 Offenburg 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: Heike Simon Munzinger Str. 1 79111 Freiburg Germany Website: www.kuebler-gbr.de The District Court of Offenburg opened bankruptcy proceedings against Integra Ortenau GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Integra Ortenau GmbH Attn: Christian Beck, Manager Schutterwalderstr. 1 77652 Offenburg Germany JOSEPH SCHWEND: Claims Registration Ends May 14 ----------------------------------------------- Creditors of Joseph Schwend GmbH & Cie have until May 14, 2008 to register their claims with court-appointed insolvency manager Andreas Fischer. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.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 Baden-Baden Hall 009a Ground Floor Gutenbergstr. 17 76532 Baden-Baden 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 Fischer Erbprinzenstr. 27 76133 Karlsruhe Germany The District Court of Baden-Baden opened bankruptcy proceedings against Joseph Schwend GmbH & Cie on March 20, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Joseph Schwend GmbH & Cie Attn: Michael Schwend, Manager Dr.-Rudolf-Eberle-Str. 11-13 76534 Baden-Baden Germany PHG SPEDITIONS: Claims Registration Ends May 14 ----------------------------------------------- Creditors of PHG Speditions GmbH & Co. KG have until May 14, 2008 to register their claims with court-appointed insolvency manager Hans-Peter Burghardt. 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 Bielefeld Meeting 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: Hans-Peter Burghardt Bunsenstr. 3 32052 Herford Germany Tel: 05221/69 30 731 Fax: +4952216930691 The District Court of Bielefeld opened bankruptcy proceedings against PHG Speditions GmbH & Co. KG on March 31, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: PHG Speditions GmbH & Co. KG Attn: Friedrich Schneider, Manager Herringhauser Str. 35 32051 Herford Germany PRO FUTURE: Claims Registration Period Ends May 10 -------------------------------------------------- Creditors of Pro Future Unternehmensberatung GmbH have until May 10, 2008, to register their claims with court-appointed insolvency manager Ruediger Wienberg. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.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 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: Ruediger Wienberg Giesebrechtstr. 1 10629 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Pro Future Unternehmensberatung GmbH on March 18, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Pro Future Unternehmensberatung GmbH Kantstr. 115 10627 Berlin Germany SAUNA - FREIZEITTREFF: Claims Registration Period Ends May 10 ------------------------------------------------------------- Creditors of Sauna - Freizeittreff SUDBAD GmbH have until May 10, 2008, to register their claims with court-appointed insolvency manager Sabine Feuerborn. Creditors and other interested parties are encouraged to attend the meeting at 10:10 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 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. Sabine Feuerborn Else-Lang-Str. 1 50858 Cologne Germany Tel: 285 547-0 Fax: +4922128554729 The District Court of Cologne opened bankruptcy proceedings against Sauna - Freizeittreff SUDBAD GmbH on March 27, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Sauna - Freizeittreff SUDBAD GmbH Attn: Heinz Guenter Wachendorf, Manager Mathias-Brueggen-Str. 10-12 50827 Cologne Germany SCHMAUSS GMBH: Claims Registration Period Ends May 9 ---------------------------------------------------- Creditors of Schmauss GmbH have until May 9, 2008, to register their claims with court-appointed insolvency manager Dr. Helmut Hemmerling. Creditors and other interested parties are encouraged to attend the meeting at 10:30 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 Pforzheim Hall 142 N Lindenstr. 8 75179 Pforzheim 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. Helmut Hemmerling Heilbronner Str. 86 70191 Stuttgart Germany The District Court of Pforzheim opened bankruptcy proceedings against Schmauss GmbH on April 4, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Schmauss GmbH Attn: Michael Schmauss, Manager Wurmberger Str. 32 75446 Wiernsheim Germany SEMERKANT GMBH: Claims Registration Period Ends May 10 ------------------------------------------------------ Creditors of Semerkant GmbH have until May 10, 2008, to register their claims with court-appointed insolvency manager Hubert Ampferl. Creditors and other interested parties are encouraged to attend the meeting at 9:00 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 Munich Meeting Hall 102 Infanteriestr. 5 80097 Munich Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Hubert Ampferl Nymphenburger Str. 20 80335 Munich Germany Tel: 089/3090586-0 Fax: 089/3090586-10 The District Court of Munich opened bankruptcy proceedings against Semerkant GmbH on March 18, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Semerkant GmbH Attn: Ammar Sanaullah, Manager St.-Michael Str. 3 81673 Munich Germany SKOTTY GMBH: Claims Registration Ends May 14 -------------------------------------------- Creditors of Skotty GmbH & Co. KG have until May 14, 2008 to register their claims with court-appointed insolvency manager Dr. Georg Bernsau. 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 Offenbach am Main Hall 162N First Floor Kaiserstrasse 16-18 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: Dr. Georg Bernsau Zeilweg 42, D 60439 Frankfurt am Main Germany Tel: 069/963761-130 Fax: 069/963761-145 The District Court of Offenbach am Main opened bankruptcy proceedings against Skotty GmbH & Co. KG on April 9, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Skotty GmbH & Co. KG Hubertusweg 12 63303 Dreieich Germany TOURISTIK SERVICE: Claims Registration Period Ends May 9 -------------------------------------------------------- Creditors of Touristik Service Putbus GmbH have until May 9, 2008, to register their claims with court-appointed insolvency manager Hannelore Krueger - Knief. Creditors and other interested parties are encouraged to attend the meeting at 11:10 a.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 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: Hannelore Krueger - Knief Bonner Str. 172-176 50968 Koeln Germany The District Court of Cologne opened bankruptcy proceedings against Touristik Service Putbus GmbH on March 20, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Touristik Service Putbus GmbH Attn: Ingolf Zera, Manager Frankfurter Strasse 540 51145 Koeln Germany UNION SG: Claims Registration Period Ends May 12 ------------------------------------------------ Creditors of Union SG Marketing & Werbung GmbH have until May 12, 2008, to register their claims with court-appointed insolvency manager Birger Wilhelm. Creditors and other interested parties are encouraged to attend the meeting at 10:15 a.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 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: Dr. Birger Wilhelm Roeckstr. 1 23568 Luebeck Germany The District Court of Luebeck opened bankruptcy proceedings against Union SG Marketing & Werbung GmbH on April 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Union SG Marketing & Werbung GmbH Attn: Gunnar Schwardt, Manager Wahmstr. 35-37 23552 Luebeck Germany WESTLB AG: Mandates Joint Leads for Public Jumbo Pfandbrief ----------------------------------------------------------- WestLB AG has mandated Deutsche Bank, Morgan Stanley, Societe Generale and WestLB for the next jumbo public Pfandbrief issue. The transaction will have benchmark size and a medium maturity. The Bank is demonstrating its commitment to build a liquid benchmark curve for WestLB's investors in the Covered Bond markets. The Pfandbrief will help to fund WestLB�s growing state and municipal lending business and to diversify its investor base. WestLB has long-standing expertise in public Pfandbrief issuance. Prior to its transformation into a joint stock company and the loss of its right to issue Pfandbriefe in 2002, the former Westdeutsche Landesbank Girozentrale was one of Germany�s largest Pfandbrief issuers. Following the inaugural EUR1.25 billion 10-year issue in 2006 and three benchmark Pfandbrief issues in 2007 (thereof two in jumbo format), WestLB continues to expand the jumbo Pfandbrief curve with this transaction. About WestLB Hearquartered in Duesseldorf, Germany, WestLB AG (DAX:WESTLB) -- http://www.westlb.com/-- provides financial advisory, lending, structured finance, project finance, capital markets and private equity products, asset management, transaction services and real estate finance to institutions. In the United States, certain securities, trading, brokerage and advisory services are provided by WestLB AG's wholly owned subsidiary WestLB Securities Inc., a registered broker-dealer and member of the NASD and SIPC. WestLB's shareholders are the two savings banks associations in NRW (25.15% each), two regional associations (0.52% each), the state of NRW (17.47%) and NRW.BANK (31.18%), which is owned by NRW (64.7%) and two regional associations (35.3%). * * * In January 2008, Fitch Rating downgraded WestLB AG's Individual rating to 'F' from 'D/E' and removed the Rating Watch Negative. WESTIS CAR: Claims Registration Ends May 14 ------------------------------------------- Creditors of Westis Car Shop GmbH have until May 14, 2008 to register their claims with court-appointed insolvency manager Dr. Holger Lessing. Creditors and other interested parties are encouraged to attend the meeting at 9:20 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 Offenbach am Main Hall 162N First Floor Kaiserstrasse 16-18 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: Dr. Holger Lessing Hanauer Landstr. 287-289, D 60314 Frankfurt am Main Germany Tel: 069/15051-300 Fax: 069/15051-400 The District Court of Offenbach am Main opened bankruptcy proceedings against Westis Car Shop GmbH on April 3, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Westis Car Shop GmbH Offenbacher Street 63165 Muehlheim am Main Germany Attn: Ralf Hofmann, Manager Ringstr. 42 63843 Niedernberg Germany ============= H U N G A R Y ============= CLEAR CHANNEL: Unit Wins Nine-Year Contract for Budapest Airport ---------------------------------------------------------------- Clear Channel Outdoor, a unit of Clear Channel Communications Inc., has been selected by Budapest Airport for a nine-year contract for all advertising inside and outside the airport terminals as well as on the airport's access road. Budapest is the largest Hungarian airport with over 8.6 million passengers in 2007 and is a key airport for travel through the region. Substantial growth is forecast for the airport in the coming years as it proceeds to develop into a hub for Eastern Europe. To facilitate this growth Hochtief, the German company that operates Budapest airport and also handles six other airports including Athens, Hamburg and Sydney, has committed to significant investment in infrastructure at Budapest airport. "Following the recent renewal of our contracts at the Oslo and Helsinki airports, the contract for Budapest not only strengthens our European airport offerings, but also helps solidify our global leadership in this increasingly important advertising sector," Paul Meyer, Global President and COO of Clear Channel Outdoor, said. Clear Channel Outdoor was selected for exclusive advertising rights following a thorough review process that included both local and international competitors. As part of the agreement, Clear Channel Outdoor will set up a local sales office and also develop international business in conjunction with its global network of airports. "We are very pleased with the outcome of the tender exercise, which saw the appointment of an experienced and professional operator that is committed to work with us to bring new standards of excellence across all elements of airport advertising," Bob McFadyen, Retail Director of Budapest Airport, said. Clear Channel Outdoor is an airport advertising operator with a total of some 300 airports in the US, Europe and Asia. Globally, Clear Channel airports provide 1.5 billion targeted advertising exposures annually. About Clear Channel Based in San Antonio, Texas, Clear Channel Communications Inc. (NYSE:CCU) -- http://www.clearchannel.com/-- is a media and entertainment company specializing in "gone from home" entertainment and information services for local communities and premiere opportunities for advertisers. The company's businesses include radio, television and outdoor displays. Outside U.S., the company operates in 11 countries -- Norway, Denmark, the United Kingdom, Singapore, China, the Czech Republic, Switzerland, the Netherlands, Australia, Mexico and New Zealand. As of Dec. 31, 2007, it owned 717 core radio stations, 288 non-core radio stations which are being marketed for sale and a leading national radio network operating in the United States. * * * In March 2008, Standard & Poor's Ratings Services said its ratings on Clear Channel Communications Inc., including the 'B+' corporate credit rating, remain on CreditWatch with negative implications. Fitch Ratings stated that in line with previous guidance, Clear Channel Communications' 'BB-' Issuer Default Rating and Senior Unsecured Ratings would remain in place if the going-private transaction is not completed. Moody's stated that assuming the transaction is completed as currently contemplated, Clear Channel will likely be assigned a Corporate Family Rating of B2 and the rating on the existing senior notes is likely to be notched down to Caa1 based on their expected subordination to the new senior secured debt facilities and the new senior notes. ============= I R E L A N D ============= ARDAGH GLASS: Improved Performance Cues S&P to Lift Rating to B+ ---------------------------------------------------------------- Standard & Poor's Ratings Services raised its long-term corporate credit rating on Ireland-based glass-container manufacturer Ardagh Glass Group PLC to 'B+' from 'B'. The outlook is positive. In addition, we raised the ratings on the group's EUR310 million senior notes issued by Ardagh Glass Finance PLC, EUR175 million callable sub bonds issued by Ardagh Glass B.V., and the EUR125 million payment-in-kind notes issued by Ardagh Glass Group PLC to 'B-' from 'CCC+'. "The rating action reflects continued strengthening of Ardagh's profitability and cash flows, and the resulting improvement in credit protection measures in 2007," said Standard & Poor's credit analyst Izabela Listowska. "Furthermore, we expect that the company will be able to maintain its positive operating trend in the near term given the current favorable industry outlook and internal fixed cost savings potential. This is likely to aid a sustained improvement in credit measures, which are currently well in line with the ratings. In 2007, Ardagh's adjusted debt to EBITDA was 4.8x and funds from operations (FFO) to debt about 15% pro forma for the acquisition of the glass unit of Rexam PLC (BBB/Negative/A-3), completed in June 2007. The ratings on Ardagh continue to reflect the group's highly leveraged financial profile following the acquisition of Rexam Glass in a primarily debt-financed transaction, exposure to volatile energy prices, and high capital intensity. These factors are tempered to some extent by the group's leading position as one of the largest glass-packaging providers in Europe, relatively recession-resistant end markets, advanced production technology, and a well invested asset base. On Dec. 31, 2007, the group reported total debt of EUR935.2 million. "The positive outlook reflects our expectation that the ratings on Ardagh could be raised by one notch in the near to medium term if the group maintains its positive operating trend and its credit measures continue to demonstrate sustained improvements," said Ms. Listowska. ========= I T A L Y ========= ALITALIA SPA: Air France-KLM Formally Withdraws Binding Offer ------------------------------------------------------------- Air France-KLM SA has formally withdrawn its binding offer to acquire the Italian government's 49.9% stake in Alitalia S.p.A., Chris Staiti and Andrew Davis write for Bloomberg News. According to Air France, the report adds, the agreement disclosed last March 14 was "no longer valid" since the conditions that needed to be met "were not fulfilled." As previously reported in the TCR-Europe, Air France, Alitalia and its unions had 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 amended plans presented to unions during the negotiations was the only one that would enable Alitalia to return to profitability within a short time. Alitalia chairman Aristide Police had recommended the resumption of negotiations between the parties. Prime Minister-elect Silvio Berlusconi had said he might accept an acquisition of Alitalia by Air France through a tie-up between the carriers. 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. Bridging Loan Gianni Letta, an adviser to Mr. Berlusconi, and nephew Enrico, undersecretary to current Prime Minister Enrico Prodi, have agreed to press for a EUR150 million emergency bridging loan for Alitalia, Bloomberg News relates. They also agreed to work on a joint strategy to sell Alitalia before its cash runs out. As of March 31, 2008, Alitalia had EUR170 million in cash and credits available to finance its operations. The government had pledged to grant Alitalia a EUR300 million bridging loan if the sale of its 49.9% stake to Air France pushes through. The Italian carrier said in January 2008 that it needs to raise EUR750 million in fresh funds in the first half of the year to remain at "adequate operating levels." Italian Bidders AirOne S.p.A., banks led by Intesa Sanpaolo S.p.A. and Italian businessmen led by Mr. Berlusconi adviser Bruno Ermolli may form a group to bid for Alitalia, Bloomberg News says, citing an unsourced Il Messaggero report. According to Il Messaggero, AirOne will own 40% of the bidding vehicle, the banks will control 40% and Mr. Bruno's group will hold 20%. Mr. Berluconi has been insisting that an Italian consortium will present a binding offer for Italy's 49.9% stake in Alitalia in less than a month. 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. ALITALIA SPA: OAO Aeroflot to Resume Talks over Italy's Stake ------------------------------------------------------------- OAO Aeroflot will resume negotiations with Alitalia S.p.A. over the sale of the government's 49.9% stake in the Italian carrier, Reuters reports say, citing Russian President Vladimir Putin. Mr. Putin, after speaking with Aeroflot chairman Alexander Zurabov, said the Russian carrier is ready to resume contact with Alitalia, Reuters saysreports. Mr Putin noted that Alitalia's condition is complicated, citing the airline's debt and profitability problems as well as the need to convince the Italian government and the unions to accept it possible offer, Reuters relates. Aeroflot CEO Valery Okulov, however, told Russia Today that the carrier is not planning to submit a second bid for Alitalia. "I believe we gained useful experience by participating in an Alitalia privatization tender, but the information we have does not inspire sufficient optimism to participate in the project for a second time." Italy's Prime Minister-elect Silvio Berlusconi welcomed Aeroflot's possible offer, adding that they are open to all options to revive Alitalia as along as the it remains the national carrier headquartered in the country. As reported in the TCR-Europe on April 3, 2008, an Aeroflot spokesman said it may submit a proposal to acquire Italy's stake in Alitalia S.p.A. if talks between Air France-KLM SA and the national carrier's unions fail. Aeroflot and financial backer UniCredit S.p.A. had joined the preliminary rounds of bidding for Alitalia, but withdrew. Air France has withdrawn its bid for Alitalia, but said it may resume talks with the carrier and its unions. Alitalia chairman Aristide Police has recommended the resumption of negotiations between the parties. 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: Targets In Line With Expectations Amid Poor Car Market ---------------------------------------------------------------- Sergio Marchionne, chief executive of Fiat SpA, said results for the first quarter are completely in line with expectations despite the poor state of the auto market, Reuters reports. Mr. Marchionne, Reuters relates, confirmed the group's financial targets for the year amid weaker sales. The Italian car marker aims a higher trading profit of up to EUR3.6 billion (US$5.7 billion). "Obviously, the market is taking it that conditions are worse than they were before," an analyst was quoted by the paper as saying. The company will hold a conference call on April 24, 2008 at 4:00 p.m. (CET) to discuss the results for the first quarter. 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 company also carries B short- term rating. S&P said the outlook is stable. PARMALAT SPA: Cannot Seek Damages vs Banks, Says Milan Court ------------------------------------------------------------ A judge in Milan, Italy, issued a ruling April 18, 2008, excluding Parmalat S.p.A. as civil party in the market rigging lawsuit against Citigroup Inc., UBS AG, Deutsche Bank AG, Morgan Stanley and nine individuals, Bankruptcy Law360 reports. As reported in the TCR-Europe, Milan prosecutors accused the banks of disguising the terms of Parmalat bond sales and other financing from investors, thus helping the dairy company conceal its financial situation. The trial commenced in January and will resume in July. Lawyers for the banks had rejected claims that the concerned firms, as well as their current and former managers, withheld information on Parmalat's true financial situation prior to its collapse. Parmalat, meanwhile, said the Milan ruling has no effect on its ability to claim damages, since these will be its object in the bankruptcy proceedings pending before a court in Parma, Italy. About Parmalat Headquartered in Milan, Italy, Parmalat S.p.A. -- http://www.parmalat.net/-- sells nameplate milk products that can be stored at room temperature for mont