TCREUR_Public/080527.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

             Tuesday, May 27, 2008, Vol. 9, No. 104

                            Headlines


A U S T R I A

ANGELOVA LAILA: Claims Registration Period Ends June 16
CS - FENSTER: Claims Registration Period Ends July 1
ETI LLC: Claims Registration Period Ends June 25
POLLAK - TRANSPORT: Claims Registration Period Ends June 11
POLLERI SPEZIALTRANSPORT: Claims Registration Ends June 11


F R A N C E

PRIDE INTERNATIONAL: Eight Directors Re-Elected to Board


G E R M A N Y

BREITLING TRANSPORT: Claims Registration Period Ends June 11
BS BAU: Claims Registration Ends June 13
COMPONENTS COMPUTER: Claims Registration Ends June 13
CPL TRANSPORT: Claims Registration Ends June 13
CR DEVELOPMENT: Claims Registration Period Ends June 11

DIE BAUMEISTER: Claims Registration Ends June 13
ENVICON KLARTECHNIK: Claims Registration Period Ends June 11
EURO-TOP-TEAM GMBH: Claims Registration Ends June 13
EVENTUS GMBH: Claims Registration Period Ends June 13
FFB HAUSBAU: Claims Registration Period Ends June 13

FIEDLER HAUSVERTRIEBS: Claims Registration Period Ends June 11
FISCHER KUECHE: Claims Registration Period Ends June 13
HEBBECKER TEXTILDRUCK: Claims Registration Period Ends June 13
HEIFO GMBH: Claims Registration Period Ends June 11
KTB KABEL: Claims Registration Period Ends June 11

THIELERT AIRCRAFT: Parent Hires Guenther Kappler as Advisor
PIEPER BAUUNTERNEHMUNG: Claims Registration Period Ends June 11
PRODUKTIONSTECHNIK CHEMNITZ: Claims Registration Ends June 11
PYRATEC BETEILIGUNGS: Claims Registration Period Ends June 11
PYRATEC PRODUKTION: Claims Registration Period Ends June 11

SCHICK GMBH: Claims Registration Period Ends June 11
STONNER GMBH: Claims Registration Period Ends June 11


I R E L A N D

MIKELAUR ENTERPRISES: Debt Spurs Liquidation Filing


I T A L Y

FIAT SPA: Confirms Talks with Chrysler on Alfa Romeo Cooperation
WIND TELECOMUNICAZIONI: Earns EUR39.6 Million for 1st Qtr 2008


K A Z A K H S T A N

ADAI-SECURITY LLP: Creditors Must File Claims by June 27
ADILET ER: Claims Deadline Slated for June 27
AKTAU NEFTEGAS: Claims Filing Period Ends July 1
ANTARES-2000 LLP: Creditors' Claims Due on June 27
DESIGN LUX: Claims Registration Ends June 27

EXPRESS VIZA: Creditors Must File Claims by June 27
TABYS-PAVLODAR LLP: Claims Deadline Slated for June 27
TECHAGROSERVICE LLP: Claims Filing Period Ends June 27
TORGAI-ASTYK LLP: Creditors' Claims Due on June 27
VALEN-PAVLODAR: Claims Registration Ends June 27


K Y R G Y Z S T A N

KYRGYZ ENERGO: Creditors Must File Claims by July 9


P O L A N D

* 95 Polish Companies Went Bankrupt in First Quarter 2008


R U S S I A

AGRO-UNION LLC: Creditors Must File Claims by July 6
CONSULTING IN MANAGEMENT: Bankruptcy Hearing Slated for Sept. 8
DANKOV-AGRO-SERVICE: Lipetsk Court Stops Bankruptcy Proceedings
ELETS-LEATHER: Lipetsk Court Stops Bankruptcy Proceedings
INTER-GROUP CJSC: Court Starts Bankruptcy Supervision Procedure

LUCH OJSC: Kursk Court Names Y. Lyashko as Insolvency Manager
MERCURY LLC: Creditors Must File Claims by June 6
MOTOR TRANSPORT: Court Names E. Butov as Insolvency Manager
OBLUCHENSKOE ENTERPRISE: Creditors Must File Claims by June 6
OKTYABRSKIY FACTORY: Asset Sale Slated for June 6

PISHEVIK OJSC: Creditors Must File Claims by July 6
ROSNEFT OIL: In Final Talks over ESPO Pipeline Link with CNPC
RUSPAK LLC: Court Starts Bankruptcy Supervision Procedure
ULTRASTRONG MATERIALS: Belgrod Bankruptcy Hearing Set July 17
WOOD-SERVICE LLC: Perm Bankruptcy Hearing Slated for August 11

ZENIT-STROY LLC: Creditors Must File Claims by July 6


S W I T Z E R L A N D

E. MUMENTHALER: Creditors Must File Proofs of Claim by June 19
GIL COMMUNICATIONS: Creditors’ Liquidation Claims Due by July 31
LA SKAMA: Zug Court Commences Bankruptcy Proceedings
MAGIC BUTTON: Creditors Must File Proofs of Claim by July 24
PERSOPOSITIV JSC: Proofs of Claim Filing Deadline is June 20

PROJEKT VISION: Creditors Must File Proofs of Claim by June 6
REGIMA LLC: Creditors Proofs of Claim Filing Deadline is July 31
REGLON JSC: Zug Court Commences Bankruptcy Proceedings


U K R A I N E

DRUZHBA LLC: Proofs of Claim Filing Deadline Set May 29
FEONIX LLC: Creditors Must File Claims by May 29
HOUSING MUNICIPAL: Creditors Must File Claims by May 29
IMEKA LLC: Creditors Must File Claims by May 29
PK SATELLITE: Creditors Must File Claims by May 29

PRIORITET PRESTIGE: Creditors Must File Claims by May 29
REZON LLC: Creditors Must File Claims by June 4
VINNICA AVIATION: Proofs of Claim Filing Deadline Set June 4


U N I T E D   K I N G D O M

ACXIOM CORP: Directors Approves Quarterly Cash Dividend
BAA LIMITED: Completes GBP547-Mln World Duty Free Europe Sale
BYFLEET SOLNA: Brings In Administrators from Vantis
CABLE & WIRELESS: Earns GBP284 Million for Year Ended March 31
CLEAR CHANNEL: Debt Financing for Merger Secured in Escrow

DANA HOLDING: Directors Authorize Payment of Dividends
DERFIRM LTD: Appoints Joint Administrators from KPMG
DESIGN & BUILD: M. H. Abdulali Leads Liquidation Procedure
EDIRECTORY PLC: Trading Continues; Direct Techonology Buys Units
INTERACTIVE NEWS: Brings In Liquidators from Tenon Recovery

M.C. INTERNATIONAL: Taps Joint Administrators from Tenon
NORTHERN ROCK: Drop in House Prices Could Delay Debt Repayment
NORTHERN ROCK: Legal & General Joins UKSA's Judicial Review
SCREEN TECHNOLOGY: Restores AIM Trading After Capital Hike Plan
SILVERJET PLC: Needs Cash to Strengthen Working Capital

TOWN AND COUNTRY: Calls In Liquidators from Tenon Recovery
W.K.B. LOGISTICS: Appoints Joint Administrators from Begbies

* Large Companies with Insolvent Balance Sheet


                            *********


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


ANGELOVA LAILA: Claims Registration Period Ends June 16
-------------------------------------------------------
Creditors owed money by KEG ANGELOVA LAILA (FN 284306y) have
until June 16, 2008, to file written proofs of claim to court-
appointed estate administrator Martina Simlinger-Haas at:

          Dr. Martina Simlinger-Haas
          Reisnerstrasse 31
          1030 Vienna
          Austria
          Tel: 713 99 46
          Fax: 713 99 46 22
          E-mail: ra.reisnerstr31@aon.at   

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:15 a.m. on June 30, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1609
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on May 6, 2008 (Bankr. Case No. 6 S 72/08t).  


CS - FENSTER: Claims Registration Period Ends July 1
----------------------------------------------------
Creditors owed money by LLC CS - Fenster Projekt Management (FN
132202s) have until July 1, 2008, to file written proofs of
claim to court-appointed estate administrator Klaus Haberler at:

          Mag. Klaus Haberler  
          Triester Strasse 34
          2620 Neunkirchen
          Austria
          Tel: 02635/69 555
          Fax: 02635/69 555 5
          E-mail: info@dr-lechner.at   

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on July 15, 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 Ternitz, Austria, the Debtor declared
bankruptcy on May 6, 2008 (Bankr. Case No. 11 S 43/08x).  


ETI LLC: Claims Registration Period Ends June 25
------------------------------------------------
Creditors owed money by  LLC ETI (FN 76308v) have until
June 25, 2008, to file written proofs of claim to court-
appointed estate administrator Stefan Langer at:

          Dr. Stefan Langer
          c/o Dr. Annemarie Kosesnik-Wehrle
          Oelzeltgasse 4
          1030 Vienna
          Austria
          Tel: 713 61 92
          E-mail: kanzlei@kosesnik-langer.at    

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on July 9, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1707
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on May 6, 2008 (Bankr. Case No. 2 S 53/08v).  Annemarie
Kosesnik-Wehrle represents Dr. Langer in the bankruptcy
proceedings.


POLLAK - TRANSPORT: Claims Registration Period Ends June 11
-----------------------------------------------------------
Creditors owed money by  LLC Pollak - Transport (FN 89574b) have
until June 11, 2008, to file written proofs of claim to court-
appointed estate administrator Ulla Reisch at:

          Dr. Ulla Reisch
          c/o Mag. Georg Hampel
          Praterstrasse 62-64
          1020 Wien
          Austria
          Tel: 01/212 55 00
          Fax: 01/212 55 00 5
          E-mail: office.wien@ulsr.at    

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on June 25, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Korneuburg
          Room 204
          Second Floor
          Korneuburg
          Austria

Headquartered in Schwechat – Rannersdorf, Austria, the Debtor
declared bankruptcy on May 6, 2008 (Bankr. Case No. 36 S
53/08y).  Georg Hampel represents Dr. Reisch in the bankruptcy
proceedings.


POLLERI SPEZIALTRANSPORT: Claims Registration Ends June 11
----------------------------------------------------------
Creditors owed money by LLC Polleri Spezialtransport  (FN
161488h) have until June 11, 2008, to file written proofs of
claim to court-appointed estate administrator Ilse Korenjak at:

          Dr. Ilse Korenjak
          Gusshausstrasse 6
          1040 Wien
          Austria
          Tel: 01/512 21 02
          Fax: 01/512 21 02 20
          E-mail: office@buresch-korenjak.at   

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:30 a.m. on June 25, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Korneuburg
          Room 204
          Second Floor
          Korneuburg
          Austria

Headquartered in Schwechat – Rannersdorf, Austria, the Debtor
declared bankruptcy on May 6, 2008 (Bankr. Case No. 36 S
49/08k).  


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


PRIDE INTERNATIONAL: Eight Directors Re-Elected to Board
--------------------------------------------------------
At its annual meeting held May 19, 2008, stockholders of Pride
International, Inc. approved the re-election of David A. Brown,
Kenneth M. Burke, Archie W. Dunham, David A. Hager, Francis S.
Kalman, Ralph D. McBride, Robert G. Phillips and Louis A.
Raspino to serve on the company's Board of Directors for a term
of one year.

In addition, stockholders approved the Amended and Restated 2004
Directors' Stock Incentive Plan and ratified the appointment of
KPMG LLP as the Company's independent registered public
accounting firm for 2008.

                  About Pride International

Headquartered in Houston, Texas, Pride International Inc.
(NYSE: PDE) -- http://www.prideinternational.com/-- provides
onshore and offshore contract drilling and related services in
more than 25 countries, operating a diverse fleet of 64 rigs,
including two ultra-deepwater drillships, 12 semisubmersible
rigs, 28 jackups, 10 platform rigs, five managed deepwater rigs
and seven Eastern Hemisphere-based land rigs.  The company has
subsidiaries in France, Netherlands, Venezuela, Bahamas, Mexico,
Malaysia and Singapore, among others.

                        *     *     *

To date, Pride International carries Standard & Poor's Ratings
Service's BB+ corporate credit rating.  The company's unsecured
debt is also rated BB+ by S&P.  The outlook on the ratings is
stable.


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


BREITLING TRANSPORT: Claims Registration Period Ends June 11
------------------------------------------------------------
Creditors of Breitling Transport GmbH have until June 11, 2008,
to register their claims with court-appointed insolvency manager
Bernd Depping.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on July 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 Bochum
          Hall A 29
          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:

          Bernd Depping
          Kunibertistrasse 9
          45657 Recklinghausen
          Germany

The District Court of Bochum opened bankruptcy proceedings
against Breitling Transport GmbH on April 17, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Breitling Transport GmbH
          Attn: Arnd Jakubeit, Manager
          Wittener Str. 165
          58456 Witten
          Germany


BS BAU: Claims Registration Ends June 13
----------------------------------------
Creditors of BS Bau GmbH have until June 13, 2008, to register
their claims with court-appointed insolvency manager Jochen
Wagner.

Creditors and other interested parties are encouraged to attend
the meeting at 3:10 p.m. on June 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 Amberg
         Room 115
         Meeting Hall V
         First Floor
         Baustadelgasse 1
         Amberg
         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 Wagner
         Salzgasse 2
         92224 Amberg
         Germany
         Tel: 09621/607 330
         Fax: 09621/607 33-10

The District Court of Amberg opened bankruptcy proceedings
against BS Bau GmbH on April 11, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         BS Bau GmbH
         Neusather Strasse 4
         92507 Nabburg
         Germany


COMPONENTS COMPUTER: Claims Registration Ends June 13
-----------------------------------------------------
Creditors of COMPONENTS Computer Vertriebs GmbH have until
June 13, 2008, to register their claims with court-appointed
insolvency manager Joachim Schmit.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on July 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 Braunschweig
         Hall 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:

         Joachim Schmitz
         Immengarten 2, D
         38104 Braunschweig
         Germany
         Tel: (05 31) 23 64 60
         Fax: (05 31) 2 36 46 99

The District Court of Braunschweig opened bankruptcy proceedings
against COMPONENTS Computer Vertriebs GmbH on April 15, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         COMPONENTS Computer Vertriebs GmbH
         Fasanenstrasse 12
         38108 Braunschweig
         Germany

         Attn; Elmar Kamphausen, Manager
         Ahlerfeld 11
         38527 Meine
         Germany


CPL TRANSPORT: Claims Registration Ends June 13
-----------------------------------------------
Creditors of CPL Transport GmbH have until June 13, 2008, to
register their claims with court-appointed insolvency manager
Christoph Henningsmeier.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on July 7, 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 Cuxhaven
         Hall 112
         Old Building
         Deichstr. 12 a
         27472 Cuxhaven
         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:

         Christoph Henningsmeier
         Osdorfer Landstr. 230
         22549 Hamburg
         Germany
         Tel: 040 8078810
         Fax: 040 807881-20

The District Court of Cuxhaven opened bankruptcy proceedings
against  CPL Transport GmbH on May 13, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         CPL Transport GmbH
         Attn: Wolfgang Linke, Manager
         Alte Reihe 27
         27616 Hollen
         Germany


CR DEVELOPMENT: Claims Registration Period Ends June 11
-------------------------------------------------------
Creditors of CR Development GmbH have until June 11, 2008, to
register their claims with court-appointed insolvency manager
Oliver Hartig.

Creditors and other interested parties are encouraged to attend
the meeting at 8:50 a.m. on July 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 Halle-Saalkreis
          Hall 1.043
          Judicial Center
          Thueringer Str. 16
          06112 Halle
          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. Oliver Hartig
          Philipp-Mueller-Strasse 44
          06110 Halle
          Germany
          Tel: 0345/478130
          Fax: 0345/4781318

The District Court of Halle-Saalkreis opened bankruptcy
proceedings against CR Development GmbH on April 29, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          CR Development GmbH
          Attn: Harald Rosenthal, Manager
          Grenzstr. 30
          06112 Halle
          Germany


DIE BAUMEISTER: Claims Registration Ends June 13
------------------------------------------------
Creditors of DIE BAUMEISTER Robert Blain GmbH have until
June 13, 2008, to register their claims with court-appointed
insolvency manager Klaus Lutz.

Creditors and other interested parties are encouraged to attend
the meeting at 1:25 p.m. on July 1, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Traunstein
         Meeting Hall B/40
         Herzog-Otto-Str. 1
         83278 Traunstein
         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 Lutz
         Kufsteiner Str. 14
         83022 Rosenheim
         Germany
         Tel: 08031/3677-0
         Fax: 08031/3677-36

The District Court of Traunstein opened bankruptcy proceedings
against DIE BAUMEISTER Robert Blain GmbH on April 29, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         DIE BAUMEISTER Robert Blain GmbH
         Kotzinger Str. 21
         83278 Traunstein
         Germany


ENVICON KLARTECHNIK: Claims Registration Period Ends June 11
------------------------------------------------------------
Creditors of ENVICON Klartechnik GmbH & Co. KG have until
June 11, 2008, to register their claims with court-appointed
insolvency manager Dirk Hammes.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on June 23, 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 Duisburg
          Hall C315
          Third Floor
          Kardinal-Galen-Strasse 124-132
          47058 Duisburg
          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:

          Dirk Hammes
          Wilhelmshofallee 75
          47800 Krefeld
          Germany

The District Court of Duisburg opened bankruptcy proceedings
against ENVICON Klartechnik GmbH & Co. KG on May 1, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          ENVICON Klartechnik GmbH & Co. KG
          Bassfeldshof 2-4
          46537 Dinslaken
          Germany


EURO-TOP-TEAM GMBH: Claims Registration Ends June 13
----------------------------------------------------
Creditors of Euro-TOP-Team GmbH have until June 13, 2008, to
register their claims with court-appointed insolvency manager
Dr. Petra Mork.

Creditors and other interested parties are encouraged to attend
the meeting at 10:55 a.m. on July 4, 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 Dortmund
         Hall 3.201
         Second Floor
         Gerichtsplatz 1
         44135 Dortmund
         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. Petra Mork
         Arndtstr. 28
         44135 Dortmund
         Germany

The District Court of Dortmund opened bankruptcy proceedings
against  Euro-TOP-Team GmbH on April 30, 2008.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Euro-TOP-Team GmbH
         Aldinghofer Str. 13
         44263 Dortmund
         Germany

         Attn: Roland Werner, Manager
         Jupiterstr. 19
         59067 Hamm
         Germany


EVENTUS GMBH: Claims Registration Period Ends June 13
-----------------------------------------------------
Creditors of Eventus GmbH have until June 13, 2008, to register
their claims with court-appointed insolvency manager Ruediger
Paus-Burkard.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on July 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
         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:

         Ruediger Paus-Burkard
         Roonstr. 39
         33615 Bielefeld
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against Eventus GmbH on April 17, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Eventus GmbH
         Renteistr. 5
         33602 Bielefeld
         Germany

         Attn: Otto Krein, Manager
         Bohlenweg 16 a
         32657 Lemgo
         Germany



FFB HAUSBAU: Claims Registration Period Ends June 13
----------------------------------------------------
Creditors of FFB Hausbau Bautrager-GmbH have until
June 13, 2008, to register their claims with court-appointed
insolvency manager Arnd Sebelefsky.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on July 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 Munich
         Meeting Room 101
         Infanteriestr. 5
         80097 Munich
         Germany

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

The insolvency manager can be reached at:

         Arnd Sebelefsky
         Arcostr. 3
         80333 Muenchen
         Germany
         Tel: 089/5490250
         Fax: 089/558674

The District Court of Munich opened bankruptcy proceedings
against FFB Hausbau Bautrager-GmbH on April 24, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         FFB Hausbau Bautrager-GmbH
         Attn: Alfred Humer, Manager
         Bismarckstr. 10
         82256 Fuerstenfeldbruck
         Germany


FIEDLER HAUSVERTRIEBS: Claims Registration Period Ends June 11
--------------------------------------------------------------
Creditors of Fiedler Hausvertriebs- und
Modernisierungsgesellschaft mbH have until June 11, 2008, to
register their claims with court-appointed insolvency manager
Ulrich Wenzel.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on July 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 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:

          Dr. Ulrich Wenzel
          Grossbeerenstr. 231
          14480 Potsdam
          Germany

The District Court of Frankfurt (Oder) opened bankruptcy
proceedings against Fiedler Hausvertriebs- und
Modernisierungsgesellschaft mbH on May 2, 2008.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

          Fiedler Hausvertriebs- und
          Modernisierungsgesellschaft mbH
          Waldweg 15
          15345 Lichtenow
          Germany


FISCHER KUECHE: Claims Registration Period Ends June 13
-------------------------------------------------------
Creditors of Fischer Kueche & Wohnen GmbH have until
June 13, 2008, to register their claims with court-appointed
insolvency manager Karl-Heinz Blaha.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on July 14, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Celle Nebenstelle
         Hall 014
         Ground Floor
         Branch Mill Road 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:

         Karl-Heinz Blaha
         Bahnhofstr. 30 A
         29221 Celle
         Germany
         Tel: 05141/28011
         Fax: 05141/24722
         E-mail: Rae_valentiner_blaha_buchholz@gmx.de  

The District Court of Celle Nebenstelle opened bankruptcy
proceedings against Fischer Kueche & Wohnen GmbH on
April 17, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         Fischer Kueche & Wohnen GmbH
         Attn: Andreas Fischer, Manager
         Fuhrmanns Birken 11
         29223 Celle
         Germany


HEBBECKER TEXTILDRUCK: Claims Registration Period Ends June 13
--------------------------------------------------------------
Creditors of Hebbecker Textildruck - Systeme GmbH have until
June 13, 2008, to register their claims with court-appointed
insolvency manager Hansjoerg Wanner.

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

The meeting of creditors will be held at:

         The District Court of Tuebingen
         Hall 1.01
         Schulberg 14
         72074 Tuebingen
         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:

         Hansjoerg Wanner
         Reutlinger Str. 105
         72800 Eningen u.A.
         Germany
         Tel: 07121/38363-0
         Fax: 07121/38363-50

The District Court of Tuebingen opened bankruptcy proceedings
against Hebbecker Textildruck - Systeme GmbH on May 2, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Hebbecker Textildruck - Systeme GmbH
         Stettenstr. 17
         72131 Ofterdingen
         Germany

         Attn: Rolf Hebbecker, Manager
         Butzenbadstr. 77
         72116 Moessingen
         Germany


HEIFO GMBH: Claims Registration Period Ends June 11
---------------------------------------------------
Creditors of HEIFO GmbH have until June 11, 2008, to register
their claims with court-appointed insolvency manager Ulrich
Wenzel.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on July 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 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:

          Dr. Ulrich Wenzel
          Grossbeerenstr. 231
          14480 Potsdam
          Germany

The District Court of Frankfurt (Oder) opened bankruptcy
proceedings against HEIFO GmbH on April 23, 2008.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

          HEIFO GmbH
          Gewerbeparkring 8
          15299 Muellrose
          Germany


KTB KABEL: Claims Registration Period Ends June 11
--------------------------------------------------
Creditors of KTB Kabel- und Tiefbau GmbH have until
June 11, 2008, to register their claims with court-appointed
insolvency manager Angelika Amend.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on July 23, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

          The District Court of Wetzlar
          Meeting Hall 201
          Building B
          Second 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:

          Angelika Amend
          Minnholzweg 2 b
          61476 Kronberg/Ts.
          Germany
          Tel: 06173/78340
          Fax: 06173/783422

The District Court of Wetzlar opened bankruptcy proceedings
against KTB Kabel- und Tiefbau GmbH on April 28, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          KTB Kabel- und Tiefbau GmbH
          Attn: Stefano La Palomenta, Manager
          Neue Kreisstrasse 4 a
          35619 Braunfels-Tiefenbach
          Germany


THIELERT AIRCRAFT: Parent Hires Guenther Kappler as Advisor
-----------------------------------------------------------
Thielert AG has recruited engine expert Dr. Guenther Kappler to
provide support to Thielert Aircraft Engines GmbH in continuing
the company's operative business.

"I am happy that it was possible to recruit such a distinguished
and experienced expert for Thielert Aircraft Engines GmbH,"
Bruno Kuebler, Thielert Aircraft's insolvency administrator
commented.

Dr. Kappler will provide long-term support to the company in its
bid to continue its operative business in Lichtenstein.  In
particular, he will be a competent partner for prospective
investors at the forthcoming investor talks.

Dr. Kappler will assist the insolvency administrator up to the
point when the company has been successfully assigned to a new
investor as planned.  He is to begin his work with immediate
effect.  He accompanied the insolvency administrator and Frank
Thielert, the company's founder, to an appointment with the
German Federal Office of Aviation on May 23, 2008.

Frank Thielert and the company's management staff expressly
welcomed this new commitment on the part of Dr. Kappler.

"I look forward to the challenge and am confident that together
we will work out a solid prospect for the future of Thielert
Aircraft Engines GmbH," Dr. Kappler said.  "Centurion engines
represent state of the art technology and have a commanding
position on the world market.  Our task is to advance this
engine development even further."

Dr. Kappler who has already been distinguished for his services
on behalf of the German aircraft industry on a number of
occasions.  He is considered to be a proven expert in the area
of engine development, production and marketing. He has first-
class references both as a scientist and within the industry –
among other things, as a former holder of the Chair for Aircraft
Drives and Director of the Institute for Air and Space Travel at
the Technical University of Munich as well as managing director
at BMW Rolls-Royce, development manager at Fairchild Dornier and
managing director of Europrop International.

Headquartered in Lichtenstein, Germany, Thielert Aircraft
Engines GmbH -- http://www.thielert.com/-- is a full subsidiary
of Thielert AG, which develops and manufactures components for
high-performance engines and special parts with complex
geometries and hardware and software for digital engine control
systems.

As reported in the Troubled Company Reporter-Europe on
April 25, 2008, the executive board of Thielert Aircraft filed
for the opening of insolvency at the county court Chemnitz in
Germany on April 24, 2008.  Bruno Kuebler was appointed as
administrator.


PIEPER BAUUNTERNEHMUNG: Claims Registration Period Ends June 11
---------------------------------------------------------------
Creditors of Pieper Bauunternehmung GmbH have until
June 11, 2008, to register their claims with court-appointed
insolvency manager Ulrich Zerrath.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on July 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 Muenster
         Meeting Hall 13 B
         Gerichtsstr. 2-6
         48149 Muenster
         Germany

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

The insolvency manager can be reached at:

         Ulrich Zerrath
         Lange Wanne 57
         45665 Recklinghausen
         Germany
         Tel: 02361/4884-0
         Fax: +492361488499

The District Court of Muenster opened bankruptcy proceedings
against Pieper Bauunternehmung GmbH on April 10, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Pieper Bauunternehmung GmbH
         Gildenstrasse 14
         46325 Borken
         Germany


PRODUKTIONSTECHNIK CHEMNITZ: Claims Registration Ends June 11
-------------------------------------------------------------
Creditors of Produktionstechnik Chemnitz GmbH have until
June 11, 2008, to register their claims with court-appointed
insolvency manager Ruediger Wienberg.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on July 23, 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:

         Ruediger Wienberg
         Michaelstrasse 71
         09116 Chemnitz
         Germany
         Tel:(0371) 381770
         Fax:(0371) 3817730
         E-mail: chemnitz@hww-kanzlei.de  

The District Court of Chemnitz opened bankruptcy proceedings
against Produktionstechnik Chemnitz GmbH on May 6, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Produktionstechnik Chemnitz GmbH
         Attn: Reiner Tluck, Manager
         Carl-Hamel-Str. 14
         09116 Chemnitz
         Germany


PYRATEC BETEILIGUNGS: Claims Registration Period Ends June 11
-------------------------------------------------------------
Creditors of Pyratec Beteiligungs-und Vermoegensverwaltungs-GmbH
have until June 11, 2008, to register their claims with court-
appointed insolvency manager Karl-Joachim Meyer.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on July 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 Lueneburg
         Hall 302
         Ochsenmarket 3
         21335 Lueneburg
         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:

         Karl-Joachim Meyer
         Schiessgrabenstr. 8/9
         21335 Lueneburg
         Germany
         Tel: 20100
         Fax: 201014

The District Court of Lueneburg opened bankruptcy proceedings
against Pyratec Beteiligungs-und Vermoegensverwaltungs-GmbH on
May 6, 2008.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Pyratec Beteiligungs-und Vermoegensverwaltungs-GmbH
         Gewerbegebiet 2
         21397 Volkstorf
         Germany


PYRATEC PRODUKTION: Claims Registration Period Ends June 11
-----------------------------------------------------------
Creditors of Pyratec Produktion GmbH & Co. KG have until
June 11, 2008, to register their claims with court-appointed
insolvency manager Karl-Joachim Meyer.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on July 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 Lueneburg
         Hall 302
         Ochsenmarket 3
         21335 Lueneburg
         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:

         Karl-Joachim Meyer
         Schiessgrabenstr. 8/9
         21335 Lueneburg
         Germany
         Tel: 20100
         Fax: 201014

The District Court of Lueneburg opened bankruptcy proceedings
against Pyratec Produktion GmbH & Co. KG on May 5, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Pyratec Produktion GmbH & Co. KG
         Gewerbegebiet 2
         21397 Volkstorf
         Germany


SCHICK GMBH: Claims Registration Period Ends June 11
----------------------------------------------------
Creditors of Schick GmbH have until June 11, 2008, to register
their claims with court-appointed insolvency manager Joachim
Exner.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on July 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 Ingolstadt
         Meeting Hall 28 I
         Schrannenstr. 3
         85049 Ingolstadt
         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:

        Joachim Exner
        Stahlstrasse 17
        90411 Nuernberg
        Germany
        Tel: 0911/95 12 850
        Fax: 0911/95 12 8510

The District Court of Ingolstadt opened bankruptcy proceedings
against Schick GmbH on April 24, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Schick GmbH
         Ilmweg 9
         85276 Hettenshausen
         Germany


STONNER GMBH: Claims Registration Period Ends June 11
-----------------------------------------------------
Creditors of Stonner GmbH Innenausbau, Objekte,
Ladeneinrichtungen have until June 11, 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 July 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 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:

         Christian Plail
         Eserwallstr. 1-3
         86150 Augsburg
         Germany

The District Court of Augsburg opened bankruptcy proceedings
against Stonner GmbH Innenausbau, Objekte, Ladeneinrichtungen on
April 29, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         Stonner GmbH Innenausbau, Objekte, Ladeneinrichtungen
         Eichleitnerstrasse 9
         86199 Augsburg
         Germany


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


MIKELAUR ENTERPRISES: Debt Spurs Liquidation Filing
---------------------------------------------------
Mikelaur Enterprises Limited, operator of The House Hotel, is
going into liquidation due to significant debts, Ian Kehoe
writes for the Sunday Business Post.

Mikelaur's directors will convene creditors on May 30, 2008, to
appoint a liquidator, the Sunday Business Post relates.

Mikelaur Enterprises operates The House Hotel.


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


FIAT SPA: Confirms Talks with Chrysler on Alfa Romeo Cooperation
----------------------------------------------------------------
Fiat S.p.A. held talks with Chrysler LLC over cooperation
agreements over its Alfa Romeo unit, Reuters reports citing an
interview with the brand's CEO Luca de Meo by WirtschaftsWoche.

Fiat CEO Sergio Marchionne confirmed to the Financial Times that
the company is in communication with Detroit car makers in view
of sharing production of Alfa Romeo in the United States.

Reuters suggests that cooperation agreements would allow Alfa
Romeo to save money for Fiat, evading the effects of the strong
Euro.  Reuters adds that an agreement would mark the return of
the Alfa Romeo brand to the U.S. market after its withdrawal in
1995.

                        About Fiat S.p.A.

Based in Turin, Italy, Fiat SpA -- http://www.fiatgroup.com/--
designs, manufactures, and sells automobiles, trucks, wheel
loaders, excavators, telehandlers, tractors and combine
harvesters.  Outside Europe, the company has subsidiaries in the
United States, Japan, India, China, Mexico, Brazil and
Argentina, among others.

                          *     *     *

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.  Ratings apply to date.

The company also 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.


WIND TELECOMUNICAZIONI: Earns EUR39.6 Million for 1st Qtr 2008
--------------------------------------------------------------
Wind Telecomunicazioni S.p.A. posted EUR39.6 million in net
profit on EUR1.3 billion in net revenues for the the first
quarter 2008, compared with EUR6.9 million in net profit on
EUR1.27 billion in net revenues for the same period in 2007,
Chiara Remondini writes for Bloomberg News.

The company attributed its six-fold hike in net income to the
increased number of clients and unchanged costs, Bloomberg News
relates.

Wind chairman Naguib Sawiris told Bloomberg News that as of
March 31, 2008, the company had 15.9 million wireless users,
compared with 15.6 million clients as of Dec. 31, 2007.

Wind's total costs also remained unchanged at EUR844 million.

As of March 31, 2008, the company had EUR6.37 billion in net
debt.

                  About Wind Telecomunicazioni

Headquartered in Rome, Italy, Wind Telecomunicazioni S.p.A. --
http://www.wind.it/--  operates integrated fixed-mobile-
Internet communications services.  The company, classified as
the fastest start-up among telecom companies in Europe, actually
is the third Italian mobile operator, with a market share of
over 19%.

                          *     *     *

Wind Telecomunicazioni continues to carry Ba3 Corporate Family
and Probability-of-Default ratings from Moody's Investor
Service.  The company also carries Ba2 Bank Loan Debt rating.  
Moody's said the outlook on the ratings is stable.

The company also carries BB- local and foreign issuer credit
ratings from Standard & Poor's Ratings Services, which said the
outlook is stable.

Wind also carries BB- Long-term Issuer Default, BB+ Senior
Secured Debt and B Short-term Issuer Default ratings from Fitch
Ratings, which said the outlook is stable.  

Ratings apply to date.


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


ADAI-SECURITY LLP: Creditors Must File Claims by June 27
--------------------------------------------------------  
The Specialized Inter-Regional Economic Court of Atyrau has
declared LLP Adai-Security insolvent.

Creditors have until June 27, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Atyrau
         Abai Str. 10a
         Atyrau
         Kazakhstan
         Tel: 8 (71222) 32-90-02


ADILET ER: Claims Deadline Slated for June 27
---------------------------------------------  
The Specialized Inter-Regional Economic Court of Pavlodar has
declared LLP Adilet Er Ltd. insolvent.

Creditors have until June 27, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Pavlodar
         Kataev Str. 24-8
         Pavlodar
         Kazakhstan
         Tel: 8 (7182) 46-53-60
              8 701 228 47-28


AKTAU NEFTEGAS: Claims Filing Period Ends July 1
------------------------------------------------  
LLP Company Aktau Neftegas has declared insolvency.  Creditors
have until July 1, 2008, to submit written proofs of claims to:

         LLP Company Aktau Neftegas
         Kurmangaliev Str. 17
         Almaty
         Kazakhstan


ANTARES-2000 LLP: Creditors' Claims Due on June 27
--------------------------------------------------  
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Antares-2000 insolvent.

Creditors have until June 27, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Kostanai
         Gogol Str. 177a
         Kostanai
         Kazakhstan


DESIGN LUX: Claims Registration Ends June 27
--------------------------------------------  
The Specialized Inter-Regional Economic Court of Astana has
declared LLP Design Lux Astana insolvent.

Creditors have until June 27, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Astana
         Respublika ave. 40-1
         Astana
         Kazakhstan
         Tel: 8 (7172) 21-72-84


EXPRESS VIZA: Creditors Must File Claims by June 27
---------------------------------------------------  
The Specialized Inter-Regional Economic Court of Atyrau region
LLP Express Viza insolvent.

Creditors have until June 27, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Atyrau
         Abai Str. 10a
         Atyrau
         Kazakhstan
         Tel: 8 (71222) 32-90-02


TABYS-PAVLODAR LLP: Claims Deadline Slated for June 27
------------------------------------------------------  
The Specialized Inter-Regional Economic Court of Pavlodar has
declared LLP Tabys-Pavlodar insolvent.

Creditors have until June 27, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Pavlodar
         Naberejnaya Str. 3-108
         Pavlodar
         Kazakhstan
         Tel: 8 (7182) 53-84-02


TECHAGROSERVICE LLP: Claims Filing Period Ends June 27
------------------------------------------------------  
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Techagroservice insolvent.

Creditors have until June 27, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Kostanai
         Gogol Str. 177a
         Kostanai
         Kazakhstan


TORGAI-ASTYK LLP: Creditors' Claims Due on June 27
--------------------------------------------------  
The Specialized Inter-Regional Economic Court of Astana has
declared LLP Torgai-Astyk insolvent.

Creditors have until June 27, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Astana
         Respublika ave. 40-1
         Astana
         Kazakhstan
         Tel: 8 (7172) 21-72-84


VALEN-PAVLODAR: Claims Registration Ends June 27
------------------------------------------------  
The Specialized Inter-Regional Economic Court of Pavlodar has
declared LLP Valen-Pavlodar insolvent.

Creditors have until June 27, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Pavlodar
         Naberejnaya Str. 3-108
         Pavlodar
         Kazakhstan
         Tel: 8 (7182) 53-84-02


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


KYRGYZ ENERGO: Creditors Must File Claims by July 9
---------------------------------------------------
LLC Kyrgyz Energo Resource has declared insolvency.  Creditors
have until July 9, 2008, to submit written proofs of claim.

Inquiries can be addressed to (0-543) 98-38-07, (0-543) 98-38-
01, (0-543) 84-44-38.


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


* 95 Polish Companies Went Bankrupt in First Quarter 2008
---------------------------------------------------------
The number of bankrupt companies in Poland went up by five to 95
in the first quarter of 2008, compared with 90 firms in the same
period in 2007, The Financial Times reports.

According to the report, the first quarter of 2008 had been
unfruitful for Polish construction, food and agricultural
sectors, especially food product wholesalers and meat producers.

FT adds that most of the firms that collapsed in the first
quarter were limited liability companies.

Large business that went bankrupt in the period include
Warszawska Wytwornia Wodek Koneser, Zaklady Miesne Polmeat,
Jelcz, Metalpol and Solmar.

                          2008 Forecast

FT reports that according to forecasts, there will be 10 less
bankruptcies in 2008 than in 2007.

Grzegorz Blachnio of Euler Hermes noted to FT that the figure
reflects the downward trend in bankruptcy numbers in the recent
years; which decreases by 30% to 40% annually.


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


AGRO-UNION LLC: Creditors Must File Claims by July 6
----------------------------------------------------
Creditors of LLC Agro-Union have until July 6, 2008, to submit
proofs of claim to:

         L. Vasilyev
         Insolvency Manager
         Apt. 6
         Karbysheva Str. 7
         392006 Tambov
         Russia

The Arbitration Court of Tambov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A64-6004/07-10.

The Court is located at:

         The Arbitration Court of Tambov
         Penzenskaya Str. 67/12
         392020 Tambov
         Russia

The Debtor can be reached at:

         LLC Agro-Union
         Rabochaya Str. 2
         Ustye
         Tambov
         Russia


CONSULTING IN MANAGEMENT: Bankruptcy Hearing Slated for Sept. 8
---------------------------------------------------------------
The Arbitration Court of Perm will convene on Sept. 8, 2008, to
hear the bankruptcy proceedings against CJSC Consulting in
Management and Business (OGRN 1025900509800) after finding it
insolvent.  The case is docketed under Case No. A50-3033/
2008-B2.

The Insolvency Manager is:

         M. Utochkin
         Post User Box 4743
         614013 Perm
         Russia

The Court is located at:

         The Arbitration Court of Perm
         Lunacharskogo Str. 3
         Perm
         Russia

The Debtor can be reached at:

         CJSC Consulting in Management and Business
         Usolskaya Str. 15
         Perm
         Russia


DANKOV-AGRO-SERVICE: Lipetsk Court Stops Bankruptcy Proceedings
---------------------------------------------------------------
The Arbitration Court of Lipetsk has stopped the bankruptcy
proceedings on OJSC Dankov-Agro-Service (TIN 4803000541).
The case is docketed under Case No. A36-728/2006.

The Court is located at:

         The Arbitration Court of Lipetsk
         Skorokhodova Str. 2
         398019 Lipetsk
         Russia

The Debtor can be reached at:

         OJSC Dankov-Agro-Service
         Gagarina Str. 48
         Dankov
         Lipetsk
         Russia


ELETS-LEATHER: Lipetsk Court Stops Bankruptcy Proceedings
---------------------------------------------------------
The Arbitration Court of Lipetsk has stopped the bankruptcy
proceedings on OJSC Elets-Leather.  The case is docketed under
Case No. A36-4019/2005.


INTER-GROUP CJSC: Court Starts Bankruptcy Supervision Procedure
---------------------------------------------------------------
The Arbitration Court of Novosibirsk commenced bankruptcy
supervision procedure on CJSC Inter-Group.  The case is docketed
under Case No. A45-13168/07-29/48.

The Temporary Insolvency Manager is:

         G. Kudakshina
         Nizhegorodskaya Str. 32
         650056 Kemerovo
         Russia

The Court is located at:

         The Arbitration Court of Novosibirsk
         Kirova Str. 3
         630007 Novosibirsk
         Russia

The Debtor can be reached at:

         CJSC Inter-Grou
         Dusi Kovalchuk Str.
         630049 Novosibirsk
         Russia


LUCH OJSC: Kursk Court Names Y. Lyashko as Insolvency Manager
-------------------------------------------------------------
The Arbitration Court of Kursk appointed Y. Lyashko as
Insolvency Manager for OJSC Luch.  He can be reached at:

         Y. Lyashko
         Russia
         Voronezh
         Pavlovsl  
         1 Maya Str. 26
         Russia
         Tel: 8 (47362) 24701

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A35-758/03g.

The Court is located at:

         The Arbitration Court of Kursk
         K. Marksa Str. 25
         305004 Kursk
         Russia

The Debtor can be reached at:

         OJSC Luch
         Stroitelnaya Str. 10
         Gorshevhnoe
         Kursk
         Russia


MERCURY LLC: Creditors Must File Claims by June 6
-------------------------------------------------
Creditors of LLC Mercury have until June 6, 2008, to submit
proofs of claim to:

         V. Zanin
         Temporary Insolvency Manager
         Apt. 90
         Begovaya Str. 2/1
         394068 Voronezh
         Russia

The Arbitration Court of Orel will convene at 9:30 a.m. on
July 9, 2008, to hear the company's bankruptcy supervision
procedure.  The case is docketed under Case No. 48-1017/08-17b.

The Court is located at:

         The Arbitration Court of Orel
         Gorkogo Str. 42
         302000 Orel  
         Russia

The Debtor can be reached at:

         LLC Mercury
         Lenina Str. 1
         Telchye
         Mtsenskiy
         Orel
         Russia


MOTOR TRANSPORT: Court Names E. Butov as Insolvency Manager
-----------------------------------------------------------
The Arbitration Court of Kursk appointed E. Butov as Insolvency
Manager for OJSC Motor Transport Depot 1 (TIN 4633007811).  He
can be reached at:

         E. Butov
         Post User Box 196
         305016 Kursk
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A35-8487/05g.

The Court is located at:

         The Arbitration Court of Kursk
         K. Marksa Str. 25
         305004 Kursk
         Russia

The Debtor can be reached at:

         E. Butov
         Post User Box 196
         305016 Kursk
         Russia


OBLUCHENSKOE ENTERPRISE: Creditors Must File Claims by June 6
-------------------------------------------------------------
Creditors of OJSC Obluchenskoe Enterprise on Fuel Supply have
until June 6, 2008, to submit proofs of claim to:

         A. Kiryushin
         Temporary Insolvency Manager
         Post User Box 244
         679016 Birobidzhan-16
         Russia

The Arbitration Court of Evreyskaya commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. A16-277B/2008.

The Debtor can be reached at:

         OJSC Obluchenskoe Enterprise on Fuel Supply
         Tvarkovskaya Str. 93a
         Obluchye
         Obluchenskiy
         Evreyskaya
         Russia


OKTYABRSKIY FACTORY: Asset Sale Slated for June 6
-------------------------------------------------
The insolvency manager and bidding organizer for OJSC
Oktyabrskiy Factory of Oil-Gas Engineering, will open a public
auction for the company's properties at 3:00 p.m. on
June 6, 2008, at:

         Insolvency Manager
         3rd Floor
         Stepnaya Str. 1
         Oktyabrskiy
         Bashkortostan
         Russia

The company has set a RUR1,869,000 starting price for the assets
on auction.

Interested participants have until June 5, 2008, to deposit an
amount of RUR186,900 to OJSC Oktyabrskiy Factory of Oil-Gas
Engineering.

Bidding documents must be submitted to:

         Insolvency Manager
         3rd Floor
         Stepnaya Str. 1
         Oktyabrskiy
         Bashkortostan
         Russia
         Tel: (34767) 4-21-34, 4-21-67

The Debtor can be reached at:

         Insolvency Manager
         3rd Floor
         Stepnaya Str. 1
         Oktyabrskiy
         Bashkortostan
         Russia


PISHEVIK OJSC: Creditors Must File Claims by July 6
---------------------------------------------------
Creditors of OJSC Pishevik have until July 6, 2008, to submit
proofs of claim to:

         V. Perepelitsa
         Insolvency Manager
         Komsomolskaya Str. 82-1
         680000 Khabarovsk
         Russia

The Arbitration Court of Sakha-Yakutiya commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A58-5468/2007.

The Court is located at:

         The Arbitration Court of Sakha-Yakutiya
         Kurashova Str. 28
         677000 Sakha-Yakutiya
         Russia

The Debtor can be reached at:

         OJSC Pishevik
         Geologov Pr. 2-8
         Neryungri
         Sakha–Yakutiya
         Russia


ROSNEFT OIL: In Final Talks over ESPO Pipeline Link with CNPC
-------------------------------------------------------------
OAO Rosneft Oil Co. is close to an agreement with China National
Petroleum Corp. over the construction of a branch of the East
Siberia - Pacific Ocean pipeline, Intefax News reports citing
Russian President Dmitry Medvedev.

Mr. Medvedev told Intefax News that the talks over the project
is in the final stage.

Interfax News relates that constructing a branch of ESPO through
China would allow oil shipments from Russia to reach the Asian
country.  The first phase of the project is set to operate
starting fourth quarter 2009.

                        About Rosneft

Headquartered in Moscow, Russia, OAO Rosneft Oil Co. --
http://www.rosneft.com/-- produces and markets petroleum
products.  The Company explores for, extracts, refines, and
markets oil and natural gas.  Rosneft produces oil in Western
Siberia, Sakhalin, the North Caucasus, and the Arctic regions of
Russia.

                         *     *     *

Rosneft Oil continues to carry a BB+ long-term corporate credit
rating from Standard & Poor's Ratings Services.  S&P said the
outlook is positive.


RUSPAK LLC: Court Starts Bankruptcy Supervision Procedure
---------------------------------------------------------
The Arbitration Court of Belgorod commenced bankruptcy
supervision procedure on LLC Ruspak (TIN 3121081994).  The case
is docketed under Case No. A08-1502/08-14.

The Temporary Insolvency Manager is:

         Y. Berestovoy
         Post User Box 118
         308000 Belgorod
         Russia

The Court is located at:

         The Arbitration Court of Belgorod
         Narodnyj Avenue 135
         308600 Belgorod
         Russia

The Debtor can be reached at:

         LLC Ruspak
         2nd Zavodskaya Str. 13
         Stroitel
         309000 Belgorod
         Russia


ULTRASTRONG MATERIALS: Belgrod Bankruptcy Hearing Set July 17
-------------------------------------------------------------
The Arbitration Court of Belgrod will convene at 11:40 a.m. on
July 17, 2008, to hear the bankruptcy supervision procedure on
CJSC Ultrastrong Materials.  The case is docketed under Case No.
A08-805/08-24B.

The Temporary Insolvency Manager is:

         K. Savchenko
         Post User Box 671
         308033 Belgrod
         Russia

The Debtor can be reached at:

         CJSC Ultrastrong Materials
         Promyshlennaya Str. 6
         308023 Belgrod
         Russia


WOOD-SERVICE LLC: Perm Bankruptcy Hearing Slated for August 11
--------------------------------------------------------------
The Arbitration Court of Perm will convene at 10:15 a.m. on
Aug. 11, 2008, to hear the bankruptcy supervision procedure on
LLC Wood-Service.  The case is docketed under Case No.
A50-17771/2007-B4.

The Temporary Insolvency Manager is:

         O. Kirtok
         Post User Box 9015
         614088 Perm
         Russia
         Tel: 8-902-47-32-068

The Court is located at:

         The Arbitration Court of Perm
         Lunacharskogo Str. 3
         Perm
         Russia

The Debtor can be reached at:

         LLC Wood-Service
         Zavodskaya Str. 10
         Lyamino
         618235 Chusovoj
         Russia


ZENIT-STROY LLC: Creditors Must File Claims by July 6
-----------------------------------------------------
Creditors of LLC Zenit-Stroy (TIN 3666111862) have until
July 6, 2008, to submit proofs of claim to:

         D. Tsygankov
         Apt. 185
         Politekhnicheskiy Per. 3
         394049 Voronezh
         Russia

The Arbitration Court of Voronezh commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A14-14618-2007 53/27b.

The Court is located at:

         The Arbitration Court of Voronezh
         Room 606
         Srednemoskovskaya Str. 77
         Voronezh
         Russia

The Debtor can be reached at:

         LLC Zenit-Stroy
         Kirova Str. 9
         Voronezh
         Russia


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


E. MUMENTHALER: Creditors Must File Proofs of Claim by June 19
--------------------------------------------------------------
Creditors owed money by JSC E. Mumenthaler are requested to file
their proofs of claim by June 19, 2008, to:

          Werner Hochuli
          Russlistr. 324
          5057 Reitnau
          Switzerland

The company is currently undergoing liquidation in Staffelbach.  
The decision about liquidation was accepted at a general meeting
help on March 28, 2008.


GIL COMMUNICATIONS: Creditors’ Liquidation Claims Due by July 31
----------------------------------------------------------------
Creditors owed money by JSC GIL Communications are requested to
file their proofs of claim by July 31, 2008, to:

          Dr. Andres Baumgartner
          Dietrich, Baumgartner & Partner»
          Sihlporte 3 /Talstrasse
          8021 Zurich
          Switzerland

The company is currently undergoing liquidation in Zurich.  The
decision about liquidation was accepted at an extraordinary
general meeting help on March 20, 2008.


LA SKAMA: Zug Court Commences Bankruptcy Proceedings
----------------------------------------------------
The Bankruptcy Service of Zug commenced bankruptcy proceedings
against LLC La Skama on April 8, 2008.

The Bankruptcy Service of Zug can be reached at:

            Bankruptcy Service of Zug
            6301 Zug
            Switzerland

The company can be reached at:

            LLC La Skama
            Kaspar-Fenner-Str. 6
            8700 Küsnacht ZH
            6300 Zug
            Switzerland


MAGIC BUTTON: Creditors Must File Proofs of Claim by July 24
------------------------------------------------------------
Creditors owed money by JSC Magic Button are requested to file
their proofs of claim by July 24, 2008, to:

          Andre Dreifuss
          Welbrigstrasse 3
          8954 Geroldswil
          Switzerland

The company is currently undergoing liquidation in Opfikon.  The
decision about liquidation was accepted at a general meeting
help on March 6, 2008.


PERSOPOSITIV JSC: Proofs of Claim Filing Deadline is June 20
------------------------------------------------------------
Creditors owed money by JSC Persopositiv are requested to file
their proofs of claim by June 20, 2008, to:

          JSC Persopositiv
          Loonstr. 31
          5452 Oberrohrdorf
          Switzerland

The company is currently undergoing liquidation in Bellikon.  
The decision about liquidation was accepted at an extraordinary
general meeting help on March 3, 2008.


PROJEKT VISION: Creditors Must File Proofs of Claim by June 6
-------------------------------------------------------------
Creditors owed money by JSC Projekt Vision are requested to file
their proofs of claim by June 6, 2008, to:

          Erwin Feurer
          Buch 43
          9322 Egnach
          Switzerland

The company is currently undergoing liquidation in Kreuzlingen.  
The decision about liquidation was accepted at a general meeting
help on April 7, 2008.


REGIMA LLC: Creditors Proofs of Claim Filing Deadline is July 31
----------------------------------------------------------------
Creditors owed money by LLC Regima are requested to file their
proofs of claim by July 31, 2008, to:

          Antonio Gerardi
          Liquidator
          Wenkenrutistrasse 25
          9630 Wattwil
          Switzerland

The company is currently undergoing liquidation in Oberuzwil SG.  
The decision about liquidation was accepted at a shareholder’s
meeting help on March 20, 2008.


REGLON JSC: Zug Court Commences Bankruptcy Proceedings
------------------------------------------------------
The Bankruptcy Service of Zug commenced bankruptcy proceedings
against JSC Reglon on April 14, 2008.

The Bankruptcy Service of Zug can be reached at:

            Bankruptcy Service of Zug
            6300 Zug
            Switzerland

The company can be reached at:

            JSC Reglon
            Goblistrasse 11
            6302 Zug
            Switzerland


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


DRUZHBA LLC: Proofs of Claim Filing Deadline Set May 29
-------------------------------------------------------
Creditors of Agricultural LLC Druzhba (code EDRPOU 22778645)
have until May 29, 2008, to submit proofs of claim to:

         The Economic Court of Hmelnitskij
         Nezalezhnosti Square 1
         29000 Hmelnitskih
         Ukraine

The Economic Court of Hmelnitskiy commenced bankruptcy
supervision procedure on the company on April 21, 2008.  The
case is docketed as 4/68-B.  

The Debtor can be reached at:

         Agricultural LLC Druzhba
         Pluzhnoye
         Iziaslavsky District
         Hmelnitskij
         Ukraine


FEONIX LLC: Creditors Must File Claims by May 29
------------------------------------------------
Creditors of LLC Feonix (code EDRPOU 35507669) have until
May 29, 2008, to submit proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company on April 16, 2008, after finding it
insolvent.  The case is docketed as 24/33-b.

The Debtor can be reached at:

         LLC Feonix
         Pobeda Str. 9
         Kiev
         Ukraine


HOUSING MUNICIPAL: Creditors Must File Claims by May 29
-------------------------------------------------------
Creditors of CJSC Housing Municipal Service (code EDRPOU
30512571) have until May 29, 2008, to submit proofs of claims
to:

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

The Economic Court of Kharkov commenced bankruptcy proceedings
against the company on April 21, 2008, after finding it
insolvent.  The case is docketed as B-48/188-07.

The Debtor can be reached at:

         CJSC Housing Municipal Service
         Fisanovich Str. 6A
         61022 Kharkov
         Ukraine


IMEKA LLC: Creditors Must File Claims by May 29
-----------------------------------------------
Creditors of LLC Engineering Building Company Imeka (code EDRPOU
34343037) have until May 29, 2008, to submit proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company on April 24, 2008, after finding it
insolvent.  The case is docketed as 24/54-b.

The Debtor can be reached at:

         LLC Engineering Building Company Imeka
         Rudenko Str. 6-A
         01240 Kiev
         Ukraine


PK SATELLITE: Creditors Must File Claims by May 29
--------------------------------------------------
Creditors of LLC PK Satellite Complex (code EDRPOU 34432294)
have until May 29, 2008, to submit proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company on April 24, 2008, after finding it
insolvent.  The case is docketed as 24/51-b.

The Debtor can be reached at:

         LLC PK Satellite Complex
         B. Hmelnitsky Str. 31/27A
         01030 Kiev
         Ukraine


PRIORITET PRESTIGE: Creditors Must File Claims by May 29
--------------------------------------------------------
Creditors of LLC Prioritet Prestige (code EDRPOU 35136514) have
until May 29, 2008, to submit proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company on April 24, 2008, after finding it
insolvent.  The case is docketed as 24/53-b.

The Debtor can be reached at:

         LLC Prioritet Prestige
         Chapayev Str. 10
         01030 Kiev
         Ukraine


REZON LLC: Creditors Must File Claims by June 4
-----------------------------------------------
Creditors of LLC Rezon (code EDRPOU 13968967) have until
June 4, 2008, to submit proofs of claim to:

         The Economic Court of Poltava
         Zigin Str. 1
         36000 Poltava
         Ukraine

The Economic Court of Poltava commenced bankruptcy proceedings
against the company on April 15, 2008, after finding it
insolvent.  The case is docketed as 4/6.

The Debtor can be reached at:

         LLC Rezon
         Stary Podol Str. 4
         36022 Poltava
         Ukraine


VINNICA AVIATION: Proofs of Claim Filing Deadline Set June 4
------------------------------------------------------------
Creditors of OJSC Vinnica Aviation Enterprise (code EDRPOU
20085458) have until June 4, 2008, to submit proofs of claim to:

         The Economic Court of Vinnica
         Hmelnickiy Str. 7
         21036 Vinnica
         Ukraine

The Economic Court of Vinnica commenced bankruptcy supervision
procedure on the company on April 7, 2008.  The case is docketed
as 10/34-08.

The Debtor can be reached at:

         OJSC Vinnica Aviation Enterprise
         Airport Gavrishevka
         21015 Vinnica
         Ukraine


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


ACXIOM CORP: Directors Approves Quarterly Cash Dividend
-------------------------------------------------------
The board of directors of Acxiom(R) Corporation on May 23, 2008,
declared a quarterly cash dividend of six cents per share
payable on June 23 to shareholders of record as of the close of
business on June 3.

While Acxiom intends to pay regular quarterly dividends for the
foreseeable future, all subsequent dividends will be reviewed
quarterly and declared by the board at its discretion.
About Acxiom

                     About Acxiom Corp

Headquartered in Little Rock, Arkansas, Acxiom Corporation,
(Nasdaq: ACXM) -- http://www.acxiom.com/-- integrates data,
services and technology to create and deliver customer and
information management solutions for many of the largest, most
respected companies in the world.  The core components of
Acxiom's innovative solutions are Customer Data Integration
(CDI) technology, data, database services, IT outsourcing,
consulting and analytics, and privacy leadership.  Founded in
1969, Acxiom has locations throughout the United States and
Europe, and in Australia, China and Canada.

In Europe, the company's subsidiary Acxiom European Holdings
Ltd., is based in the United Kingdom.

                          *     *     *

In December 2007, Moody's Investors Service confirmed Acxiom's
Ba2 corporate family rating and assigned a negative rating
outlook, concluding a review for possible downgrade initiated on
May 17, 2007, following the company's announcement that it had
entered into a definitive agreement to be acquired by Silver
Lake and ValueAct Capital for US$3 billion.


BAA LIMITED: Completes GBP547-Mln World Duty Free Europe Sale
-------------------------------------------------------------
BAA has completed the sale of World Duty Free Europe Limited to
Autogrill S.p.A.

Under the agreement, Autogrill has paid GBP546.6 million, plus
GBP15.75 million in accrued interest.

BAA has sold WDF as part of its ongoing non-core asset disposal
program.  WDF has entered into a 12-year concession agreement
for the operation of duty free stores at BAA's seven U.K.
airports.

Proceeds of the sale will be used to repay debt in accordance
with the terms of the ADI financing agreements.

                        About BAA Ltd.

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

                          *     *     *

BAA Limited continues to carry BB- long-term corporate credit
rating from Standard & Poor's Ratings Services, which said the
Outlook is negative.


BYFLEET SOLNA: Brings In Administrators from Vantis
---------------------------------------------------
Michael Young and Nigel Hamilton-Smith of Vantis Plc were
appointed joint administrators of Byfleet Solna Ltd. (Company
Number 752503) on May 16, 2008.

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

The company can be reached at:

          Byfleet Solna Ltd.
          West Lodge
          Station Approach
          West Byfleet
          Surrey
          KT14 6NG
          England
          Fax: 01932 791 810
          Send to My Mobile


CABLE & WIRELESS: Earns GBP284 Million for Year Ended March 31
--------------------------------------------------------------
Cable & Wireless Plc posted GBP284 million in net group profit
on GBP3.15 billion in net group revenues for the year ended
March 31, 2008, compared with GBP103 million in net group profit
on GBP3.35 billion in net group revenues for the year ended
March 31, 2007.

As of March 31, 2008, group cash and cash equivalents were
GBP699 million.  During the year, the repurchase of the
convertible bonds due in 2010 resulted in a cash outflow of
GBP190 million.  Additionally, the company paid GBP34 million
repurchasing bonds due in 2019 that had a nominal value of
GBP32 million and paid GBP138 million for the 2007/08 interim
dividend and the final dividend of the 2006/07 year.

The remaining net cash inflow of GBP13 million relates to cash
generated by International and Central partially offset by the
outflow in Europe, Asia & US.

Group debt at March 31, 2008, was GBP456 million, a decrease of
GBP260 million from March 31, 2007.  During the year, the Group
repurchased and converted all of the convertible bonds in issue
at March 31, 2007 -- carrying value of GBP213 million.  

The group also repurchased bonds due in 2019 with a carrying
value of GBP32 million, reducing the carrying amount of those
bonds outstanding to GBP147 million.

During the year, the improvement in the Group's cash flows and
the progress of the Europe, Asia & U.S. restructuring to date
have led both Standard and Poor's and Moody's to improve the
Group's credit rating outlook.

As reported in the Troubled Company Reporter-Europe on May 26,
2008, Standard & Poor's Ratings Services has revised its outlook
on Cable & Wireless to developing from stable.

The developing outlook means ratings can be raised, lowered, or
affirmed.  The 'BB-' long-term and 'B' short-term corporate
credit ratings remain unchanged.

                    Group Outlook for 2008/09

For Group:

    * EBITDA in the range of GBP702 million to GBP725 million,
      including a net pension credit related to the main U.K.
      defined benefit scheme of GBP12 million, representing
      EBITDA growth of 16% to 20%.

For International:

    * EBITDA in the range of US$895 million to US$910 million
      (GBP447 million to GBP455 million at an average U.S.
      dollar to sterling exchange rate of 2.00 for the year),
      including a net pension credit of US$8 million,
      representing EBITDA growth of 8% to 10%;

    * EBITDA margin of around 35%;

    * capital expenditure to be around 14% of revenue; and

    * The percentage tax rate to be in the mid to low 20s.

For Europe, Asia & U.S.:

    * EBITDA in the range of GBP285 million to GBP295 million,
      including a net pension credit of GBP8 million,
      representing EBITDA growth of 30% to 35%;

    * business is expected to be trading cash flow positive for
      the full year, although the timings of receipts and
      payments may mean there is a small trading outflow in the
      first half of the year;

    * capital expenditure of around 10% of revenue; and

    * the percentage current tax rate to be effectively nil.

For Central:

    * EBITDA cost in the range of GBP25 million to
      GBP30 million.

"We introduced two standalone business units to Cable & Wireless
in 2006.  The new structure has brought increased focus to both
businesses and we're pleased to report in 2007/08 we have passed
several important milestones," Richard Lapthorne, Chairman of
Cable and Wireless plc, said.

"Financially and operationally, Cable & Wireless is
demonstrating the necessary momentum for the Board to consider
the next steps to deliver further value for shareholders.

"Finally, we're delighted to recommend a full year dividend of
7.5 pence per share, an increase of 28% on last year,
demonstrating the Board's confidence in the prospects for both
business units for 2008/09."

Headquartered in London, Cable & Wireless Plc
-- http://www.cw.com/new/-- operates through two standalone
business units -- International and Europe, Asia & US.  The
International business unit operates integrated
telecommunications companies in 33 countries offering mobile,
broadband, domestic and international fixed line services to
residential and business customers, with principal operations in
the Caribbean, Panama, Macau, Monaco and the Channel Islands.  
The Europe, Asia & U.S. business unit provides enterprise and
carrier solutions to the largest users of telecoms services
across the U.K., U.S., continental Europe and Asia -- and
wholesale broadband services in the U.K.

Specifically, the company's operations are in the United
Kingdom, India, China, the Cayman Islands and the Middle East.


CLEAR CHANNEL: Debt Financing for Merger Secured in Escrow
----------------------------------------------------------
Clear Channel Communications, Inc. last week disclosed that the
bank syndicate providing the debt financing with respect to the
acquisition of Clear Channel, pursuant to the amended merger
agreement with entities sponsored by Bain Capital Partners, LLC
and Thomas H. Lee Partners, L.P., has now fully funded the debt
financing related to the US$17.9 billion merger. Under the terms
of the amended merger agreement, Clear Channel shareholders will
receive $36.00 in cash or stock for each share they own.

The bank syndicate, consisting of Citigroup, Deutsche Bank,
Morgan Stanley, Credit Suisse, Royal Bank of Scotland and
Wachovia, had until May 22, 2008, to comply with a settlement
agreement in connection with the lawsuits filed in March in the
Supreme Court of the State of New York and the State Court in
Bexar County, Texas.  Under the settlement, the parties agreed
to place all financing into an escrow account, pending
completion of the transaction.

“T[he] actions significantly increase the certainty that our
merger will close,” said Mark Mays, Chief Executive Officer of
Clear Channel.  “Cash on the barrelhead for one of the largest
LBOs in history is an enormous win for our shareholders.”

The private equity sponsors and certain shareholders investing
in the merged company are required to fund the equity financing
into escrow by May 28th.  At that time, all debt and equity
funds necessary to close will be held by The Bank of New York,
as escrow agent, pending the satisfaction of the conditions to
closing.

                      Lawsuit Dismissal

In related activities, the bank syndicate was dismissed from
lawsuits in Texas and New York, and the banks, in turn, will
dismiss their appeals.  In addition, the banking group and
sponsors have agreed that Clear Channel Communications can
specifically enforce all contracts related to the merger against
any party.

                     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.


DANA HOLDING: Directors Authorize Payment of Dividends
------------------------------------------------------
The Board of Directors of Dana Holding Corporation has
authorized the payment of a dividend to shareholders of 4.0
percent Series A Convertible Preferred Stock and 4.0 percent
Series B Convertible Preferred Stock.

A cash payment of US$1.33 per share for the four-month period
from February 1, 2008, through May 31, 2008, will be payable on
June 2, 2008, to preferred shareholders of record at the close
of business on May 23, 2008.

                       About Dana Holding

Dana Holding Corporation (NYSE: DAN) -- http://www.dana.com/--
is a supplier of axles; driveshafts; and structural, sealing,
and thermal-management products; as well as genuine service
parts.  The company's customer base includes virtually every
major vehicle manufacturer in the global automotive, commercial
vehicle, and off-highway markets, which collectively produce
more than 70 million vehicles annually.  Based in Toledo, Ohio,
the company's continuing operations employ approximately 35,000
people in 26 countries and reported 2007 sales of US$8.7
billion, with more than half of this revenue derived from
outside the United States.  As of Dec. 31, 2007, the company had
subsidiaries in the United Kingdom, Venezuela, Argentina,
Luxembourg, Mexico, Korea, Brazil, Taiwan and Australia, among
others.  

On March 3, 2006, Dana Corp. and its affiliates filed for
chapter 11 protection with the U.S. Bankruptcy Court for the
Southern District of New York (Case No. 06-10354).  

Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day,
in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq.,
Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in
Cleveland, Ohio, represented the Debtors.  Henry S. Miller at
Miller Buckfire & Co., LLC, served as the Debtors' financial
advisor and investment banker.  Ted Stenger from AlixPartners
served as Dana's Chief Restructuring Officer.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel
LLP, represented the Official Committee of Unsecured Creditors.
Fried, Frank, Harris, Shriver & Jacobson, LLP served as counsel
to the Official Committee of Equity Security Holders.  Stahl
Cowen Crowley, LLC served as counsel to the Official Committee
of Non-Union Retirees.

The Debtors filed their Joint Plan of Reorganization on
Aug. 31, 2007 and on Oct. 23, 2007, the Bankruptcy Court
approved the adequacy of the Disclosure Statement explaining
their Plan.  Judge Burton Lifland entered an order confirming
the Third Amended Joint Plan of Reorganization of the Debtors on
Dec. 26, 2007.

The Debtors' Third Amended Joint Plan of Reorganization was
deemed effective as of Jan. 31, 2008.  Dana Corp., starting on
the Plan Effective Date, operated as Dana Holding Corporation.

                         *     *     *

As reported in the Troubled Company Reporter-Europe on Feb. 13,
2008, Standard & Poor's Ratings Services assigned its 'BB-'
corporate credit rating to Toledo, Ohio-based Dana Holding Corp.
following the company's emergence from Chapter 11 on Feb. 1,
2008.  The outlook is negative.
         
At the same time, Standard & Poor's assigned Dana's US$650
million asset-based loan revolving credit facility due 2013 a
'BB+' rating (two notches higher than the corporate credit
rating) with a recovery rating of '1', indicating an expectation
of very high recovery in the event of a payment default.
   
In addition, S&P assigned a 'BB' bank loan rating to Dana's
US$1.43 billion senior secured term loan with a recovery rating
of '2', indicating an expectation of average recovery.


DERFIRM LTD: Appoints Joint Administrators from KPMG
----------------------------------------------------
Jane Moriarty and David John Crawshaw of KPMG LLP were appointed
joint administrators of Derfirm Ltd. (Company Number 4637371) on
May 19, 2008.

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

The company can be reached at:

          Derfirm Ltd.
          5 The Quadrant
          Coventry
          West Midlands
          CV1 2EL
          England


DESIGN & BUILD: M. H. Abdulali Leads Liquidation Procedure
----------------------------------------------------------
M. H. Abdulali of Moore Stephens was appointed liquidator of
Design & Build (Stafford) Ltd. on May 15, 2008, for the
creditors' voluntary winding-up procedure.

The liquidator can be reached at:

         Moore Stephens
         6 Ridge House
         Ridgehouse Drive
         Festival Park
         Stoke on Trent
         ST1 5TL
         England


EDIRECTORY PLC: Trading Continues; Direct Techonology Buys Units
----------------------------------------------------------------
eDirectory Plc CEO Dominic Allonby said the company's Internet
shopping site will continue trading despite the collapse of its
two subsidiary firms into administration, North West Evening
Mail reports.

According to Mr. Allonby, administrators DTE Leonard Curtis  
have sold the goodwill and assets of Freecom.net.Limited and CTD
Ltd. to Direct Technology Ltd., North West Evening Mail relates.

North West Evening Mail says both CTD and Freecom.net owed money
to creditors.

Meanwhile, eDirectory, which suspended dealing in its 11 million
shares on the PLUS private stock market from May 1, 2008, has
retained all of its 65 employees in Ulverston, Warrington and
Dudley.

eDirectory, whose accumulated losses stood at GBP3 million in
2006, is now trading as eDirectory.co.uk.  The company had a
turnover of around GBP3 million during the year, the paper
discloses.


INTERACTIVE NEWS: Brings In Liquidators from Tenon Recovery
-----------------------------------------------------------
Stanley Donald Burkett-Coltman and Nigel Ian Fox of Tenon
Recovery were appointed joint liquidators of Interactive News
Ltd. on May 14, 2008, for the creditors' voluntary winding-up  
proceeding.

The joint liquidators can be reached at:

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


M.C. INTERNATIONAL: Taps Joint Administrators from Tenon
--------------------------------------------------------
Ian W. Kings and Steven P. Ross of Tenon Recovery were appointed
joint administrators of M.C. International Import & Export Ltd.
(Company Number 03162483) on May 14, 2008.

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

The company can be reached at:

          M.C. International Import & Export Ltd.
          24-26 Scotswood Road
          Newcastle Upon Tyne
          Tyne and Wear
          NE4 7JB
          England
          Tel: 0191 230 0883
          Fax: 0191 230 0889


NORTHERN ROCK: Drop in House Prices Could Delay Debt Repayment
--------------------------------------------------------------
Northern Rock Plc's executive chairman, Ron Sandler warned that
the bank's debt repayment to the Bank of England could be
delayed due to sharp decline in house prices, published reports
say.

According to the reports, Mr. Sandler said that Northern Rock
may struggle to meet its repayments and could delay loan
clearing by up to six months if house prices drop over the
coming years.

Mr. Sandler added that if house prices were to drop by 5%, 10%,
or 15%, "it would put a great deal of stress in [the bank's]
ability to deliver the [business] plan."

According to the Telegraph, Northern Rock plans to repay the
remaining GBP24.1 billion loan to Bank of England by 2010 and
release the Treasury from its GBP75 billion guarantees by 2011.

Northern Rock said it would review its current business plan in
the third quarter of 2008.

                     About Northern Rock plc

Headquartered in Newcastle upon Tyne, England, Northern Rock plc
-- http://www.northernrock.co.uk/mortgages/-- deals with
mortgages, savings accounts, loans and insurance.  The company
also promotes secured loans to its existing mortgage customers.
The company had more than US$200 billion in assets at the end of
June 2007.

                          *     *     *

Northern Rock Plc's Bank Financial Strength is currently rated
at E+ by Moody's Investors Service.  The rating was initially at
D+ and was downgraded to its current rating in December 2007.

The bank's dated subordinated debt was also downgraded to B1
from Baa1 and the undated subordinated debt and Tier-1
securities were downgraded to B3 from Baa1 and Baa3
respectively.  All of these ratings have negative outlooks.  
Northern Rock's short-term rating was affirmed at Prime-1.


NORTHERN ROCK: Legal & General Joins UKSA's Judicial Review
-----------------------------------------------------------
Legal & General confirmed on Friday, May 23, 2008, that it would
become an interested party in the Judicial Review proceedings
issued by SRM and the Shareholders Action Group on May 8, 2008,
and by RAB Capital on May 16, 2008.

Legal & General Investment Management Ltd. has been served as an
interested party.  An interested party is neither claimant nor
defendant, but someone who has an interest in the proceedings.
Legal & General lodged its acknowledgment of service for each of
the claims.

"Legal & General hold and manage funds which track the FTSE All
Share Index.  Northern Rock was formerly part of the All Share
Index and, consequently, Legal & General was a major shareholder
in Northern Rock," a spokesman for Legal & General said.  

"Legal & General has been served as an interested party to the
judicial review proceedings issued by SRM, RAB Capital and the
Shareholders Action Group.  Legal & General has a significant
interest in the outcome of the judicial review and, therefore,
wishes to monitor events closely.  

"Legal & General wishes to ensure that the valuation of shares
is conducted on a fair basis and believes that it is right and
appropriate for the Court to consider whether the proposed
method of valuation is fair.  Legal & General considers that the
valuation should be independent and transparent without the
prescriptive assumptions imposed by the Treasury.  We therefore
broadly support the substance of the applications brought by the
Claimants."

                    About Northern Rock plc

Headquartered in Newcastle upon Tyne, England, Northern Rock plc
-- http://www.northernrock.co.uk/mortgages/-- deals with
mortgages, savings accounts, loans and insurance.  The company
also promotes secured loans to its existing mortgage customers.
The company had more than US$200 billion in assets at the end of
June 2007.

                          *     *     *

Northern Rock Plc's Bank Financial Strength is currently rated
at E+ by Moody's Investors Service.  The rating was initially at
D+ and was downgraded to its current rating in December 2007.

The bank's dated subordinated debt was also downgraded to B1
from Baa1 and the undated subordinated debt and Tier-1
securities were downgraded to B3 from Baa1 and Baa3
respectively.  All of these ratings have negative outlooks.  
Northern Rock's short-term rating was affirmed at Prime-1.


SCREEN TECHNOLOGY: Restores AIM Trading After Capital Hike Plan
---------------------------------------------------------------
The trading of Screen Technology Group plc's shares at AIM has
been restored after the Board proposed a Placing, Open Offer and
Loan Note issue to raise up to GBP1.3 million (before expenses).

The Board confirmed that Scaent, an Amsterdam based
conglomerate, together with certain Directors and officers of
Scaent, have agreed to subscribe for 121.2 million Placing
Shares at the Placing Price of 0.66 pence per share to raise up
to GBP800,000.  Scaent has also invested a further GBP200,000
through subscription for the Loan Notes.  

A further 12.5 million Placing Shares have been placed with
certain of the Directors, and other institutional investors, at
the Placing Price to raise in aggregate GBP82,800 and an Open
Offer has been announced under which up to 32,909,049 New
Ordinary Shares will be issued, also at 0.66p per share, on the
basis of 12 New Ordinary Shares for every 13 Shares held to
raise up to a further GBP217,200  

"This is a very important step forward for the Company and I am
delighted to welcome Scaent as a major Shareholder and partner,"
Tom Jarman, chief executive of Screen Technoloy, commented.  

"It is clear that Scaent have great ambitions for the Group and
the resources to support the business as it achieves success;
this can provide the Company with the stability and backing to
capitalize on its global opportunities albeit over longer
timescale than originally envisaged.  Finally, we have been able
to maintain good relationships with a number of international
marketing and manufacturing partners and are well positioned to
implement our highly scalable business model over the coming
year."

                     Suspension of Shares

On Feb. 25, 2008, Screen Technology Group plc's trading
subsidiary Screen Technology Ltd. lodged at court a proposal for
a Company Voluntary Arrangement.  Accordingly, the Board has
requested a suspension of trading in the Company's shares on AIM
pending the outcome of this CVA and clarification of the
Company's financial position.

Completion of the CVA will be dependent on further finance being
made available and the Company continues to explore various
financing alternatives.

Headquartered in Cambridgeshire,England, Screen Technology Group
plc -- http://www.screentechnology.com/-- provides display  
technology solutions.


SILVERJET PLC: Needs Cash to Strengthen Working Capital
-------------------------------------------------------
Silverjet Plc's wholly owned subsidiary Silverjet Aviation Ltd.
entered May 2, 2008, into a GBP8.4 million loan facility
agreement.  Silverjet also entered into a proposed GBP4.3
million subscription agreement with Viceroy Holdings LLC.  

At the same time, Silverjet Aviation served a notice under the
Loan Facility to draw down around US$5 million.  Silverjet has
yet to receive the full drawdown.

As announced on April 30, 2008, Silverjet's working capital
reserves are limited and advances under the Loan Facility are
required as a matter of urgency.

In the circumstances, Silverjet has requested, and the London
Stock Exchange has confirmed, an immediate suspension in the
trading of the ordinary shares of the Company on the AIM market
of the London Stock Exchange.

Silverjet continues discussions with other parties, which have
confirmed an interest in investing in the Company.

In the meantime, Silverjet's services continue as scheduled.

Silverjet plc -- http://www.flysilverjet.com/-- is a British  
airline that currently flies between London and New York and
London and Dubai.


TOWN AND COUNTRY: Calls In Liquidators from Tenon Recovery
----------------------------------------------------------
Patrick Ellward and Dilip Dattani of Tenon Recovery were
appointed joint liquidators of Town and Country Scaffolding
(Midlands) Ltd. on May 16, 2008, for the creditors' voluntary
winding-up proceeding.

The joint liquidators can be reached at:

         Tenon Recovery
         Charnwood House
         Gregory Boulevard
         Nottingham
         NG7 6NX
         England


W.K.B. LOGISTICS: Appoints Joint Administrators from Begbies
------------------------------------------------------------
Robert Michael Young and Paul Finnity of Begbies Traynor were
appointed joint administrators of W.K.B. Logistics Ltd. (Company
Number 04952577) on May 6, 2008.

Begbies Traynor -- http://www.begbies.com/-- assists companies,  
creditors, financial institutions and individuals on all aspects
of financial restructuring and corporate recovery.  

The company can be reached at:

          W.K.B. Logistics Ltd.
          Glanford House
          Bridge Street
          Brigg
          South Humberside
          DN20 8NF
          England


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

AUSTRIA
-------
Libro AG                            (111)         174     (182)


BELGIUM
-------
Sabena S.A.                          (86)       2,215     (297)


CZECH REPUBLIC
--------------
Ceskomoravska Kolben &
   Danek Praha Holding               (89)         192   (2,186)
Setuza A.S.                          (55)         145   (1,120)


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

FRANCE    
------
Arbel                     ARB       (150)         138      (96)
Banque Nationale
   de Paris Guyane        BNPG       (41)         352      N.A.
BSN Glasspack                       (101)       1,151      179
Charbo De France                  (3,872)       4,738   (2,868)
Euro Computer System                (110)         682      377
Grande Paroisse S.A.                (927)         629      330
Immob Hoteliere                      (67)         301      (13)
Matussiere et Forest S.A. MTF        (78)         294      (28)
Outremer Telecom          OMT        (33)         229      (88)
Pagesjaunes GRP           PAJ     (3,023)       1,377     (311)
Pneumatiques Kleber S.A.             (34)         480      139
SDR Picardie                        (135)         413      N.A.
Soderag                               (3)         404      N.A.
Sofal S.A.                          (305)       6,619      N.A.
Spie-Batignolles                     (16)       5,281       75
Selcodis S.A.             SPVX        (9)         134      (26)
Trouvay Cauvin                        (0)         134       10
Usines Chausson                      (23)         249       35


GERMANY
-------
Alno AG                   ANO        (21)         340      (61)
Babcock Borsig            BBX      (1608)         137   (1,309)
CBB Holding AG            COB        (43)         905      N.A.
Cinemaxx AG               MXC        (27)         177      (30)
Dortmunder
   Actien-Brauerei        DABG       (13)         118      (29)
EM.TV AG                  EV4G.BE    (22)         849       15
F.A. Guenther & Son AG    GUSG       (10)         111      N.A.
Kabel Deutschland                 (1,199)       2,280     (306)
Kaufring AG               KAUG       (19)         151      (51)
Maternus Kliniken AG      MAK.F       (4)         201      (20)
Nordsee AG                            (8)         195      (31)
Primacom AG               PRC         (5)         662      (47)
Schaltbau Hold            SLT         (3)         240       14
SinnLeffers AG            WHGG        (4)         454     (145)
Spar Handels- AG          SPAG      (442)       1,433     (234)
TA Triumph-Adler          TWN        (72)         462      (53)

GREECE
------
Petzetakis-PFC            PETZP       (8)         263      (98)
Radio A.Korassidis        KORA      (101)         181     (139)
   Commercial

HUNGARY
-------
Exbus PLC                 EXBUS     (30)         118    (5,162)

ICELAND
-------
Decode Genetics Inc.      DCGN     (146)         156       48

IRELAND
-------
Elan Corp PLC             ELN      (388)       1,599       484
Waterford Wed Ut          WTFU     (145)         897       208


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


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


NORWAY
------
Interoil Exploration      IOX         (9)         205      (11)
Petroleum-Geo Services    PGO        (32)       2,963   (5,250)


ROMANIA
-------
Oltchim RM Valce          OLT       (430)         673     (417)
Rafo Onesti               RAF       (354)         475   (1,421)


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


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


TURKEY
------
Nergis Holding                       (24)         125       26
Yasarbank                           (948)         623      N.A.


UKRAINE
-------
Dniprooblenergo           DNON       (51)         433   (1,010)
Donetskoblenergo          DOON      (341)         573   (2,365)


UNITED KINGDOM
--------------
Abbott Mead Vickers                   (2)         168      (16)
Alldays Plc                         (120)         252     (202)
Amey Plc                  AMY        (49)         932      (47)
Atkins (WS) Plc           ATK       (150)       1,390       62
Bagleys Investment                  (247)       1,094     (126)
BCH Group Plc             BCH         (6)         188      (44)
Blenheim Group            BEH       (153)         198      (34)
Booker Plc                BKRUY      (60)       1,298       (8)
Bradstock Group           BDK         (2)         269        5
Brent Walker Group        BWL     (1,774)         867   (1,157)
British Energy Ltd                (5,823)       4,921      290
British Energy Plc        BGY     (5,823)       4,921      434
British Nuclear
   Fuels Plc                      (4,248)      40,326      977
Carlisle Group                       (12)         204       15
Compass Group             CPG       (668)       2,972     (298)
Dowson Holding            DWN        (18)         226       31
Dignity Plc               DTY         (9)         648       35
Easybroker PLC                        (1)         287       (1)
Easynet Group             ESY.L      (45)         323       38
Electrical and Music              
   Industries Group       EMI     (2,266)       2,950     (296)
Evans Healthcare                     (86)         239     (144)
Global Green Tech Group             (156)         408      (18)
Heath Lambert
   Fenchurch Group Plc               (10)       4,109      (10)
HMV Group Plc             HMV        (26)       1,273     (277)
Imperial Chemical
   Industries Plc         ICI       (370)       8,393        2
Jarvis Plc                JRVS.L     (28)         370      (22)
Ladbrokes Plc             LAD       (894)       2,139     (356)
Lambert Fenchurch Group               (1)       1,827        3
Legal & Gen. Fin.                     (7)       3,576     (522)
M 2003 Plc                        (2,204)       7,205     (756)
Misys Plc                 MSY         (7)       1,123     (131)
Mytravel Group            MT.L      (380)       1,818     (488)
New Star Asset                      (418)         368       10
Next Plc                            (156)       3,224      (63)
Norbain Finance                      (10)         280      (10)
Orange Plc                ORNGF     (594)       2,902        7
Rank Group Plc                       (26)       1,209      (88)
Regus Plc                            (46)         367      (60)
Saatchi & Saatchi         SSI       (119)         705      (41)
SFI Group                 SUF       (108)         178     (162)
Skyepharma PLC            SKP       (117)         212       11
Spirit Group                         (75)         365      (56)
Telewest
   Communications Plc     TLWT    (3,702)       7,581   (5,631)
Trio Finance              TRIO       (14)         592      N.A.
Webley Stadium                       (55)       1,561      (45)
Wincanton Plc             WIN        (27)       1,451      (78)


                            *********

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

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

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

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

                            *********


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

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

Copyright 2008.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
prior written permission of the publishers.

Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.

The TCR Europe subscription rate is US$625 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are US$25 each. For subscription
information, contact Christopher Beard at 240/629-3300.


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