TCREUR_Public/080528.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

            Wednesday, May 28, 2008, Vol. 9, No. 105

                            Headlines




A U S T R I A

KOVAKS KEG: Claims Registration Period Ends June 23
MAKS MALERDIENST: Claims Registration Period Ends June 23
REITERER NON PLUS: Claims Registration Period Ends June 11
RITTERBRAU LLC: Claims Registration Period Ends July 20
RITTERBRAU PRIVATBRAUEREI: Claims Registration Ends July 20


B U L G A R I A

FIRST INVESTMENT: Client Trust Remains Strong, Survey Says


E S T O N I A

TR MAJAD: Defaults on EUR10 Million Bonds


G E R M A N Y

ACTIVE PRINTLINE: Claims Registration Period Ends June 13
ALL-TRANS GMBH: Creditors' Meeting Slated for June 3
AMK AKUSTIKBAU: Claims Registration Period Ends June 13
ANUBIS WELTREISEN: Claims Registration Period Ends June 13
BOITZ GMBH: Claims Registration Period Ends June 13

BRELA DAMENHOSEN: Claims Registration Period Ends June 13
IKB DEUTSCHE: Shareholders File Complaints vs Capital Hike
NANOFILM TECHNOLOGIE: Claims Registration Period Ends June 13
SIV BETEILIGUNGSGESELLSCHAFT: Claims Registration Ends June 12
TRIE WE: Claims Registration Ends June 13

UNDERONE GMBH: Claims Registration Ends June 13
W & H PROJEKTGESELLSCHAFT: Claims Registration Ends June 13
WESERBANK AG: Claims Registration Ends June 13
ZEITLOS INTERIEUR: Claims Registration Ends June 13


I T A L Y

ALITALIA SPA: Delays 2007 Financial Accounts Release
ALITALIA SPA: Emirates Denies Interest in Italy's Stake
PARMALAT SPA: Plans to Split Dairy Farmers with Murray Goulburn


K A Z A K H S T A N

EAST ENTERPRISES: Creditors Must File Claims by July 8
EVEREST KZ: Claims Deadline Slated for July 4
JUALYNSKAYA PASSAJIRSKAYA: Claims Filing Period Ends July 4
KAZINTERINVEST JSC: Creditors' Claims Due on July 4
NURTILEU KURYLYS: Claims Registration Ends July 4

PETROLEUM CLUB: Creditors Must File Claims by July 8
UNIVERSAL IMPEX: Claims Deadline Slated for July 4


K Y R G Y Z S T A N

OSHSKY ZAVOD: Creditors' Meeting Slated for June 13


R U S S I A

BALTAY-AGRO-PROM-KHIMIYA: Creditors Must File Claims by June 6
LOBVINSKIY BIOCHEMICAL: Creditors Must File Claims by June 6
MEDINA OJSC: Nizhniy Novgorod Bankruptcy Hearing Set Sept. 6
NEFTEYUGORSKIY BREAD: Court Starts Bankruptcy Supervision
PRIBOY LLC: Creditors Must File Claims by June 6

SADKO FURNITURE: Creditors Must File Claims by June 6
SADOVOE OJSC: Creditors Must File Claims by July 6
SEVERSTAL OAO: To Buy 61% Stake in African Iron Ore Group  
STEEL LLC: Creditors Must File Claims by June 6
TARNOGSKAYA AGRO-PROM-KHIMIYA: Claims Filing Period Ends June 6

TYVA-GOLD: Asset Sale Slated for June 6


S W I T Z E R L A N D

A.P. 3 I: Creditors Have Until June 1 to File Proofs of Claim
BALANDINA CONSULTING: Creditors' Proofs of Claim Due by June 1
DIABOLO LLC: Deadline to File Proofs of Claim Set May 31
GLOBAL PET: Aargau Court Commences Bankruptcy Proceedings
KIRAAS LLC: Creditors Must File Proofs of Claim by May 31

LONI TRANSPORT: Luzern Court Commences Bankruptcy Proceeding
MAX SCHUPFER: Proofs of Claim Filing Deadline is May 31
R. KONIG: May 30 Set as Deadline to File Proofs of Claim


U K R A I N E

CHERVONY ZHOVTEN: Proofs of Claim Filing Deadline Set June 5
DNIEPROPETROVSK CHEMISTRY: Creditors Must File Claims by June 5
FINANCE-LAW CONSULTING: Creditors Must File Claims by June 5
INDUSTRIAL TRADE: Creditors Must File Claims by June 5
LAN-AGRICO LLC: Creditors Must File Claims by June 5

PODOLYE-5 CJSC: Creditors Must File Claims by June 5
RUDPOL-INVEST: Proofs of Claim Filing Deadline Set June 5
WESTTRADEINDUSTRY LLC: Creditors Must File Claims by June 5


U N I T E D   K I N G D O M

AFC BOURNEMOUTH: Administrator Expects Final Takeover in a Month
METRONET RAIL: Transport for London Takes Over Operations




                            *********



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


KOVAKS KEG: Claims Registration Period Ends June 23
---------------------------------------------------
Creditors owed money by KEG KOVACS (FN 269259w) have until June
23, 2008, to file written proofs of claim to court-appointed
estate administrator Martin Honemann at:

          Mag. Martin Honemann
          Oelzeltgasse 4
          1030 Vienna
          Austria
          Tel: 713 61 92
          Fax: 713 61 92-22
          E-mail: martin.honemann@kosesnik-langer.at    

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on July 7, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1705
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on May 6, 2008 (Bankr. Case No. 3 S 45/08z).  


MAKS MALERDIENST: Claims Registration Period Ends June 23
---------------------------------------------------------
Creditors owed money by LLC MAKS Malerdienst (FN 38170h) have
until June 23, 2008, to file written proofs of claim to court-
appointed estate administrator Michael Glaser at:

          Mag. Michael Glaser
          c/o 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 9:45 a.m. on July 7, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1705
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on May 6, 2008 (Bankr. Case No. 3 S 46/08x).  Martina Simlinger-
Haas represents Mag. Glaser in the bankruptcy proceedings.


REITERER NON PLUS: Claims Registration Period Ends June 11
----------------------------------------------------------
Creditors owed money by LLC Reiterer NON PLUS ULTRA (FN 199478a)
have until June 11, 2008, to file written proofs of claim to
court-appointed estate administrator Beate Holper at:

          Mag. Beate Holper
          c/o Dr. Susi Pariasek
          Gonzagagasse 15
          1010 Wien
          Austria
          Tel: 01/533 28 55
          Fax: 01/533 28 55 28
          E-mail: office@anwaltwien.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 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
52/08a).  Susi Pariasek represents Mag. Holper in the bankruptcy
proceedings.


RITTERBRAU LLC: Claims Registration Period Ends July 20
-------------------------------------------------------
Creditors owed money by LLC Ritterbrau, Privatbrauerei Neumarkt
(FN 107459d) have until July 20, 2008, to file written proofs of
claim to court-appointed estate administrator Johann Leitner at:

          Dr. Johann Leitner
          Vogelweiderstrasse 9
          4600 Wels
          Austria
          Tel: 07242/26651
          Fax: 07242/26651-19
          E-mail: office@hans-leitner.eu    

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on July 31, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Wels
          Hall 101
          Maria Theresia Str. 12
          Wels
          Austria

Headquartered in Neumarkt im Hausruckkreis, Austria, the Debtor
declared bankruptcy on May 6, 2008 (Bankr. Case No. 20 S
59/08i).  


RITTERBRAU PRIVATBRAUEREI: Claims Registration Ends July 20
-----------------------------------------------------------
Creditors owed money by LLC RITTERBRAU Privatbrauerei Neumarkt &
Co KG (FN 26515v) have until July 20, 2008, to file written
proofs of claim to court-appointed estate administrator Gerold
Doppelbauer at:

          Gerold Doppelbauer
          LLC Insolvenz Treuhand
          Vogelweiderstrasse 9
          4600 Wels
          Austria
          Tel: 07242/41601-151
          Fax: 07242/41601-198
          E-mail: office@insolvenz-treuhand.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on July 31, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Wels
          Hall 101
          Maria Theresia Str. 12
          Wels
          Austria

Headquartered in Neumarkt im Hausruckkreis, Austria, the Debtor
declared bankruptcy on May 6, 2008 (Bankr. Case No. 20 S
58/08t).  


===============
B U L G A R I A
===============


FIRST INVESTMENT: Client Trust Remains Strong, Survey Says
----------------------------------------------------------
Client trust and confidence in First Investment Bank remains
intact despite insolvency rumors, Focus News Agency reports
citing an Alpha Research poll.

The survey, Focus News disclosed, showed 72% of depositors
remain loyal to the bank.

The survey also revealed 35% of respondents are confident in
local banks, while 13% worry that the local banking system might
collapse, the paper states.

Headquartered in Sofia, Bulgaria, First Investment Bank had
total assets of BGN4.07 billion (EUR7.924 billion) at the end
of March 2008.

                       *     *     *

As reported in the TCR-Europe on May 22, 2008, Moody's Investors
Service placed on review for possible downgrade the D bank
financial strength rating and the Ba1 long- term local and
foreign currency deposit ratings of First Investment Bank AD.  
The rating agency also placed on review for possible downgrade
the bank's Ba1 senior unsecured rating and Ba2 subordinated debt
rating.

At the same time, Fitch Ratings changed Bulgaria-based First
Investment Bank's Outlook to Stable from Positive.  Its other
ratings are affirmed at Long-term Issuer Default 'BB-', Short-
term IDR 'B', Individual 'D', Support '5' and Support Rating
Floor 'No Floor'.


=============
E S T O N I A
=============


TR MAJAD: Defaults on EUR10 Million Bonds
-----------------------------------------
TR Majad has defaulted on its 10% EUR10 million bonds, Ott
Ummelas writes for Bloomberg News.

SEB Pank, a unit of SEB AB that arranged TR Majad's bond issues,  
notified the company's investors of the default late April 2008.  

TR Majad issued the notes in May 2007 and set its maturity in
October 2008.


Headquartered in Estonia, TR Majad is a property investment
company.  It also owns AS Kommest Auto, a Peugeot car dealer in
Estonia and Latvia.


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


ACTIVE PRINTLINE: Claims Registration Period Ends June 13
---------------------------------------------------------
Creditors of active Printline GmbH have until June 13, 2008, to
register their claims with court-appointed insolvency manager
Tjark Thies.

Creditors and other interested parties are encouraged to attend
the meeting at 10:50 a.m. on July 11, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

          The District Court of Hamburg
          Hall B 405
          Fourth Floor Annex
          Civil Justice Bldg.
          Sievkingplatz 1
          20355 Hamburg
          Germany
        
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

          Dr. Tjark Thies
          Domstrasse 15
          20095 Hamburg
          Germany

The District Court of Hamburg opened bankruptcy proceedings
against active Printline GmbH on May 1, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

          active Printline GmbH
          Diebsteich 31
          22761 Hamburg
          Germany


ALL-TRANS GMBH: Creditors' Meeting Slated for June 3
----------------------------------------------------
The court-appointed insolvency manager for ALL-Trans GmbH,
Thomas Wazlawik will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 9:00 a.m. on
June 3, 2008.

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

          The District Court of Passau
          Meeting Hall 6
          Ground Floor
          Schustergasse 4
          Passau
          Germany

The Court will also verify the claims set out in the insolvency
manager's report at 11:00 a.m. on July 21, 2008, at the same
venue.

Creditors have until June 13, 2008, to register their claims
with the court-appointed insolvency manager.

The insolvency manager can be reached at:

          Dr. Thomas Wazlawik
          Luragogasse 5
          94032 Passau
          Germany
          Tel: 0851/490548-0
          Fax: 0851/490548-9

The District Court of Passau opened bankruptcy proceedings
against ALL-Trans GmbH on May 8, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

          ALL-Trans GmbH
          Marienstr. 5
          94154 Neukirchen
          Germany


AMK AKUSTIKBAU: Claims Registration Period Ends June 13
-------------------------------------------------------
Creditors of AMK Akustikbau GmbH have until June 13, 2008, to
register their claims with court-appointed insolvency manager
Detlef Ruediger Beckmann.

Creditors and other interested parties are encouraged to attend
the meeting at 11:35 a.m. on Aug. 6, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

          The District Court of Charlottenburg
          Hall 218
          Second Floor
          Amtsgerichtsplatz 1
          14057 Berlin
          Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

          Dr. Detlef Ruediger Beckmann
          Lindenallee 33
          14050 Berlin
          Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against AMK Akustikbau GmbH on March 20, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          AMK Akustikbau GmbH
          Alt-Mariendorf 52 c
          12107 Berlin
          Germany


ANUBIS WELTREISEN: Claims Registration Period Ends June 13
----------------------------------------------------------
Creditors of Anubis Weltreisen GmbH & Co. KG have until
June 13, 2008, to register their claims with court-appointed
insolvency manager Heinrich Stellmach.

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

The meeting of creditors will be held at:

         The District Court of Osnabrueck
         Hall N 301
         Kollegienwall 10
         49074 Osnabrueck
         Germany

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

The insolvency manager can be reached at:

         Heinrich Stellmach
         Kollegienwall 3-4
         49074 Osnabrueck
         Germany
         Tel: 0541/1817-0
         Fax: 0541/1817210
         E-mail: osnabrueck@stellmach-broeckers.de  

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

The Debtor can be reached at:

         Anubis Weltreisen GmbH & Co. KG
         Grosse Str. 27-32
         49074 Osnabrueck
         Germany


BOITZ GMBH: Claims Registration Period Ends June 13
---------------------------------------------------
Creditors of Boitz GmbH Fahrzeugaufbereitung, Autovermietung,
Spedition have until June 13, 2008, to register their claims
with court-appointed insolvency manager Markus M. Merbecks.

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

         Markus M. Merbecks
         Lessingstrasse 25
         08058 Zwickau
         Germany
         Tel: (0375) 3034 70
         Fax: (0375) 270 5796
         E-mail: merbecks@merbecks.de  

The District Court of Chemnitz opened bankruptcy proceedings
against Boitz GmbH Fahrzeugaufbereitung, Autovermietung,
Spedition on April 1, 2008.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Boitz GmbH Fahrzeugaufbereitung, Autovermietung,
         Spedition
         Attn: Uwe Boitz, Manager
         Schubertstrasse 1
         08058 Zwickau
         Germany


BRELA DAMENHOSEN: Claims Registration Period Ends June 13
---------------------------------------------------------
Creditors of Brela Damenhosen GmbH have until June 13, 2008, to
register their claims with court-appointed insolvency manager
Klaus Niemeyer.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.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 Osnabrueck
         Hall N 301
         Kollegienwall 10
         49074 Osnabrueck
         Germany

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

The insolvency manager can be reached at:

         Klaus Niemeyer
         Schillerstr. 20
         49074 Osnabrueck
         Germany
         Tel: 0541/33 8500
         Fax: 0541/33 850-50

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

The Debtor can be reached at:

         Brela Damenhosen GmbH
         Heger-Tor-Wall 3
         49074 Osnabrueck
         Germany


IKB DEUTSCHE: Shareholders File Complaints vs Capital Hike
----------------------------------------------------------
Several shareholders of IKB Deutsche Industriebank AG have filed
legal complaints against its planned EUR1.48 billion capital
increase, Thomson Financial News relates, citing an unsourced
Financial Times Deutschland report.

IKB confirmed to FT Deutschland that it has knowledge of six
separate complaints but has yet to receive them in writing.

FT Deutschland suggests that legal complaints may delay the
capital increase as well as the planned IKB stake sale of KfW
Bankengruppe (43.3% ) and Stiftung Industrieforschung (11.8%).

IKB plans to commence the capital hike after it publishes its
financial results for fiscal-year 2007/2008.

IKB posted EUR965.1 million in consolidated net loss for the
first half ended Sept. 30, 2007, compared with EUR89.3 million
in consolidated net income for the first half ended Sept. 30,
2006.

                       About IKB Deutsche

Headquartered in Dusseldorf, Germany, IKB Deutsche Industriebank
AG -- http://www.ikb.de/-- provides medium-sized companies with
long-term financing.  The bank operates in several German
locations, as well as branches in the United Kingdom,
Luxembourg, Spain and France.

IKB had previously invested in securitized loans on the US
market for subprime mortgages, which are now almost worthless.
This resulted in a deep-seated crisis within the bank, pushing
it on the brink of bankruptcy.

                         *     *     *

Moody's Investors Service cuurently rates IKB Deutsche
Industriebank AG's bank financial strength at E; subordinated
debt at Ba2; junior subordinated securities at Ca and hybrid
capital instruments eligible for Tier 1 capital and the
preferred securities of IKB Funding Trust I & II at Caa3.  The
ratings, which were downgraded to their current level in
April 2008, have stable outlook.


NANOFILM TECHNOLOGIE: Claims Registration Period Ends June 13
-------------------------------------------------------------
Creditors of Nanofilm Technologie GmbH have until June 13, 2008,
to register their claims with court-appointed insolvency manager
Peter Staufenbiel.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 a.m. on June 27, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

          The District Court of Goettingen
          Hall B 8
          Berliner Strasse 8
          37073 Goettingen
          Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

          Dr. Peter Staufenbiel
          Dransfelder Strasse 19 A
          37079 Goettingen
          Germany
          Tel: 0551/9000950
          Fax: 0551/9000955
          E-mail: info@hauter.com  

The District Court of Goettingen opened bankruptcy proceedings
against Nanofilm Technologie GmbH on April 30, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Nanofilm Technologie GmbH
          Anna-Vandenhoeck-Ring 5
          37081 Goettingen
          Germany


SIV BETEILIGUNGSGESELLSCHAFT: Claims Registration Ends June 12
--------------------------------------------------------------
Creditors of SIV Beteiligungsgesellschaft mbH have until June
12, 2008, to register their claims with court-appointed
insolvency manager Susanne Mueller.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 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 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:

          Susanne Mueller
          Vietmannsdorfer Strasse 23
          17268 Templin
          Germany

The District Court of Frankfurt (Oder) opened bankruptcy
proceedings against SIV Beteiligungsgesellschaft mbH on April
21, 2008.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

          SIV Beteiligungsgesellschaft mbH
          Bahnhofstrasse 1
          16303 Schwedt
          Germany


TRIE WE: Claims Registration Ends June 13
-----------------------------------------
Creditors of Trie We Bauvertriebsgesellschaft GmbH have until
June 13, 2008, to register their claims with court-appointed
insolvency manager Goerge Scheid.

Creditors and other interested parties are encouraged to attend
the meeting at noon 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 Meiningen
         Meeting Hall A 0208
         Lindenallee 15
         98617 Meiningen
         Germany

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

The insolvency manager can be reached at:

         Goerge Scheid
         Anger 10
         99084 Erfurt
         Germany

The District Court of Meiningen opened bankruptcy proceedings
against Trie We Bauvertriebsgesellschaft GmbH on May 7, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Trie We Bauvertriebsgesellschaft GmbH
         Schmalenbuchenau Str. 24
         98724 Neuhaus
         Germany


UNDERONE GMBH: Claims Registration Ends June 13
-----------------------------------------------
Creditors of Underone GmbH have until June 13, 2008, to register
their claims with court-appointed insolvency manager Eberhard
Stock.

Creditors and other interested parties are encouraged to attend
the meeting 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 Essen
         Meeting Hall 163
         Zweigertstr. 52
         45130 Essen
         Germany   

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

The insolvency manager can be reached at:

         Eberhard Stock
         Rolandstr. 11
         45128 Essen
         Germany
         Tel: 0201-5078492

The District Court of Essen opened bankruptcy proceedings
against Underone GmbH on April 30, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Underone GmbH
         Hochstr. 45
         45964 Gladbeck
         Germany

         Attn: Andreas Boje, Manager
         Lunestr. 11
         44287 Dortmund
         Germany


W & H PROJEKTGESELLSCHAFT: Claims Registration Ends June 13
-----------------------------------------------------------
Creditors of W & H Projektgesellschaft mbH have until
June 13, 2008, to register their claims with court-appointed
insolvency manager Severin Kiesl.

Creditors and other interested parties are encouraged to attend
the meeting at 9:10 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 Traunstein
         Meeting Hall C 001
         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:

         Severin Kiesl
         Stollstr. 5
         83022 Rosenheim
         Germany
         Tel: 08031/380960
         Fax: 08031/13892

The District Court of Traunstein opened bankruptcy proceedings
against  W & H Projektgesellschaft mbH on April 17, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         W & H Projektgesellschaft mbH
         Wiesenweg 9
         83365 Nussdorf
         Germany


WESERBANK AG: Claims Registration Ends June 13
----------------------------------------------
Creditors of Weserbank AG have until June 13, 2008, to register
their claims with court-appointed insolvency manager Dr. Klaus
Pannen.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on May 27, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Bremerhaven
         Hall 209
         Nordstr. 10
         27580 Bremerhaven
         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. Klaus Pannen
         Neuer Wall 25
         Schleusenbruecke 1
         20354 Hamburg
         Germany
         Tel: 040 320857-0
         Fax: 040 320857-140

The District Court of Bremerhaven opened bankruptcy proceedings
against Weserbank AG on April 16, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Weserbank AG
         Attn: Gerhard Nimschik and Gerold Lehmann, Managers
         Schlachthofstr. 14
         27576 Bremerhaven
         Germany


ZEITLOS INTERIEUR: Claims Registration Ends June 13
---------------------------------------------------
Creditors of Zeitlos Interieur & Decoration GmbH have until
June 13, 2008, to register their claims with court-appointed
insolvency manager Peter-Alexander Borchardt.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on July 11, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Hamburg
         Meeting Hall B405
         Fourth Floor
         Sievkingplatz 1
         20355 Hamburg
         Germany
         
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Peter-Alexander Borchardt
         Deichstrasse 1
         20459 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against  Zeitlos Interieur & Decoration GmbH on April 24, 2008.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Zeitlos Interieur & Decoration GmbH
         Borsteler Chaussee 85-99 A
         22453 Hamburg
         Germany

         Attn: Anna-Maria Lipper, Manager
         Gustav-Freytag-Str. 9
         22087 Hamburg
         Germany


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


ALITALIA SPA: Delays 2007 Financial Accounts Release
----------------------------------------------------
Alitalia S.p.A. has postponed the publication of its financial
results for the year ended Dec. 31, 2007, BBC News reports.

According to BBC News, Alitalia's board convened May 26, 2008,
to approve its annual accounts, but adjourned the meeting
without doing so.

Alitalia posted EUR362.92 million in pretax losses on
EUR4.86 billion in net revenues for full year 2007, compared
with EUR605.19 million in pretax losses on EUR4.72 billion in
net revenues for full year 2006.

                       About Alitalia

Headquartered in Rome, Italy, Alitalia S.p.A. --
http://www.alitalia.it/-- provides air travel services for
passengers and air transport of cargo on national, international
and inter-continental routes.  The Italian government owns 49.9%
of Alitalia.  Alitalia flies to about 80 destinations in more
than 60 countries, including Argentina, China, and Japan, from
hubs in Rome and Milan and operates a fleet of about 185
aircraft.

Despite a EUR1.4 billion state-backed restructuring in 1997,
Alitalia posted net losses of EUR256 million and EUR907 million
in 2000 and 2001 respectively.  Alitalia posted EUR93 million in
net profits in 2002 after a EUR1.4 billion capital injection.
The carrier booked annual net losses of EUR520 million in 2003,
EUR813 million in 2004, EUR168 million in 2005, and
EUR625.6 million in 2006.


ALITALIA SPA: Emirates Denies Interest in Italy's Stake
-------------------------------------------------------
The Emirates Group has denied interest acquiring part of the
government's 49.9% stake in Alitalia S.p.A., Reuters reports.

Il Messaggero had reported that Emirates may commence talks to
join a consortium of Italian investors that would bid to acquire  
the stake.

Bruno Ermolli, adviser to Prime Minister Silvio Berlusconi, has
set up a EUR1.4-billion special bidding vehicle to bid for the
Italy's stake in Alitalia.  The newco is reportedly composed of
several Italian financial and industrial firms including AirOne
S.p.A. The report adds that Intesa Sanpaolo S.p.A., Mediobanca
S.p.A. and Piaggio S.p.A. chairman and CEO Roberto Colaninno.

                         About Alitalia

Headquartered in Rome, Italy, Alitalia S.p.A. --
http://www.alitalia.it/-- provides air travel services for
passengers and air transport of cargo on national, international
and inter-continental routes, including United States, Canada,
Japan and Argentina.  The Italian government owns 49.9% of
Alitalia.

Despite a EUR1.4 billion state-backed restructuring in 1997,
Alitalia posted net losses of EUR256 million and EUR907 million
in 2000 and 2001 respectively.  Alitalia posted EUR93 million in
net profits in 2002 after a EUR1.4 billion capital injection.
The carrier booked annual net losses of EUR520 million in 2003,
EUR813 million in 2004, EUR168 million in 2005, and
EUR625.6 million in 2006.


PARMALAT SPA: Plans to Split Dairy Farmers with Murray Goulburn
---------------------------------------------------------------
Parmalat S.p.A. and Murray Goulburn Cooperative Co. plans to
separate Australian Co-Operative Foods Ltd.'s fresh and non-
fresh dairy operations into two companies, the Australian
Associated Press reports citing a document submitted to the
Australian Competition and Consumer Commission.

Parmalat and Murray will create a joint venture, Fresh Dairy
Co., which would merge their and Dairy Farmers' fresh milk
operations.  Fresh Dairy -- in which Parmalat would hold a 51%
stake and operational control while Murray would own 49% -- is
expected to dominate over 50% of the Australian fresh white milk
market, AAP relates.

Murray, meanwhile, would acquire Dairy Farmers' non-fresh dairy
operations, which include cheese, UHT milk and milk powder.

As previously reported in the TCR-Europe, Parmalat, through its
Parmalat Australia unit, and Murray submitted a joint non-
binding bid to acquire Dairy Farmers.  The consortium have also  
applied for clearance from AAAC to submit a binding offer.

Kirin Holdings Co. and Fonterra Cooperative Group Ltd. have also
asked clearance from the Australian regulator to make a bid.

Interested parties who have operations in the country should
seek clearance from ACCC before a bid.  Foreign bidders with no
Australian operations, meanwhile, are not required to have an
ACCC clearance but must seek approval from the Foreign
Investment Review Board.

Dairy Farmers has appointed Goldman Sachs JBWere as adviser for
the auction.

                       About Parmalat

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

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

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

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

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

The Honorable Robert D. Drain presides over the Parmalat
Debtors' U.S. cases.  On June 21, 2007, the U.S. Court granted
Parmalat permanent injunction.


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


EAST ENTERPRISES: Creditors Must File Claims by July 8
------------------------------------------------------  
The Specialized Inter-Regional Economic Court of Almaty has
declared LLP Joint Enterprise East Enterprises insolvent.

Creditors have until July 8, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Almaty
         Almatinskaya Str. 35
         Pokrovka
         Ilyisky District
         Almaty
         Kazakhstan
         Tel: 8 777 226 20-31


EVEREST KZ: Claims Deadline Slated for July 4
---------------------------------------------  
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Company Everest Kz insolvent.

Creditors have until July 4, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Kostanai
         Room 303
         Al-Farabi ave. 119
         Kostanai
         Kazakhstan
         Tel: 8 (7142) 53-63-21


JUALYNSKAYA PASSAJIRSKAYA: Claims Filing Period Ends July 4
-----------------------------------------------------------  
The Specialized Inter-Regional Economic Court of Jambyl has
declared JSC Jualyn Passenger Autocade Jualynskaya Passajirskaya
Avtokolonna insolvent on Sept. 13, 2007.

Creditors have until July 4, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Jambyl
         Suleimanov Str. 17
         Taraz
         Jambyl
         Kazakhstan


KAZINTERINVEST JSC: Creditors' Claims Due on July 4
---------------------------------------------------  
JSC Kazinterinvest has declared insolvency.  Creditors have
until July 4, 2008, to submit written proofs of claims to:

         JSC Kazinterinvest
         Abai Str. 27a
         Otegen batyr
         Ilyisky District
         Almaty
         Kazakhstan


NURTILEU KURYLYS: Claims Registration Ends July 4
-------------------------------------------------  
The Specialized Inter-Regional Economic Court of Jambyl has
declared LLP Nurtileu Kurylys Service insolvent.

Creditors have until July 4, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Jambyl
         Suleimanov Str. 17
         Taraz
         Jambyl
         Kazakhstan


PETROLEUM CLUB: Creditors Must File Claims by July 8
----------------------------------------------------  
The Specialized Inter-Regional Economic Court of Almaty has
declared CJSC Petroleum Club insolvent on Sept. 21, 2007.

Creditors have until July 8, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Almaty
         Room 319
         Tole bi Str. 295
         Almaty
         Kazakhstan
         Tel: 8 701 111 77-02
              8 705 461 06-05


UNIVERSAL IMPEX: Claims Deadline Slated for July 4
--------------------------------------------------  
The Specialized Inter-Regional Economic Court of Kostanai has
declared LLP Universal Impex insolvent.

Creditors have until July 4, 2008, to submit written proofs of
claims to:

         The Specialized Inter-Regional
         Economic Court of Kostanai
         Room 303
         Al-Farabi ave. 119
         Kostanai
         Kazakhstan
         Tel: 8 (7142) 53-63-21


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


OSHSKY ZAVOD: Creditors' Meeting Slated for June 13
---------------------------------------------------
Creditors of LLC Osh Factory of Drowned Pumps Oshsky Zavod
Pogrujnyh Nasosov will meet at 2:00 p.m. on June 13, 2008 at:

         LLC Oshsky Zavod Pogrujnyh Nasosov
         Masaliyev Str. 44
         Osh
         Kyrgyzstan

The Inter-District Court of Osh Region for Economic Issues
declared the company insolvent on March 28, 2007.

N. Akambaev has been appointed temporary insolvency manager.

Creditors must submit their written proofs of claim and be
registered within seven days before the meeting with the
temporary insolvency manager.

Proxies must have authorization to vote.

Inquiries can be addressed to (0-772) 50-43-05.


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


BALTAY-AGRO-PROM-KHIMIYA: Creditors Must File Claims by June 6
--------------------------------------------------------------
Creditors of OJSC Baltay-Agro-Prom-Khimiya (TIN 6407000534) have
until June 6, 2008, to submit proofs of claim to:

         G. Degtyarev
         Insolvency Manager
         Kirova Pr. 11B
         410012 Saratov
         Russia

The Arbitration Court of Saratov commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A-57-9243/07-23.

The Court is located at:

         The Arbitration Court of Saratov
         Babushkin Vvoz 1
         Saratov
         Russia

The Debtor can be reached at:

         OJSC Baltay-Agro-Prom-Khimiya
         Rabochaya Str. 15
         Baltay
         Baltayskiy
         412630 Saratov
         Russia


LOBVINSKIY BIOCHEMICAL: Creditors Must File Claims by June 6
------------------------------------------------------------
Creditors of LLC Lobvinskiy Biochemical Factory (TIN 6673103770)
have until June 6, 2008, to submit proofs of claim to:

         E. Gutarina
         Temporary Insolvency Manager
         Apt. 403
         Lunacharskogo Str. 185
         620026 Ekaterinburg
         Russia

The Arbitration Court of Sverdlvosk commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. A60-5799/2008-S11.

The Court is located at:

         The Arbitration Court of Sverdlovsk
         Lenina Pr. 34
         620151 Ekaterinburg
         Russia  

The Debtor can be reached at:

         LLC Lobvinskiy Biochemical Factory
         Lenina Str. 52
         Lobva
         Novolyalinskiy
         624420 Sverdlvosk
         Russia


MEDINA OJSC: Nizhniy Novgorod Bankruptcy Hearing Set Sept. 6
------------------------------------------------------------
The Arbitration Court of Nizhniy Novgorod will convene at 9:00
a.m. on Sept. 6, 2008, to hear the bankruptcy supervision
procedure on OJSC Medina.  The case is docketed under Case No.
A43-3505/2008 27-49.

The Temporary Insolvency Manager is:

         V. Siromolot
         Post User Box 6
         603022 Nizhniy Novgorod
         Russia

The Court is located at:

         The Arbitration Court of Nizhniy Novgorod
         Kremlin 9
         603082 Nizhniy Novgorod
         Russia

The Debtor can be reached at:

         OJSC Medina
         Lenina Str. 68B
         Medina
         Krasnooktyabrskiy
         Nizhniy Novgorod
         Russia


NEFTEYUGORSKIY BREAD: Court Starts Bankruptcy Supervision
---------------------------------------------------------
The Arbitration Court of Samara commenced bankruptcy
supervision procedure on CJSC Nefteyugorskiy Bread.  The case is
docketed under Case No. A55-12943/2007.

The Temporary Insolvency Manager is:

         R. Sadykov
         Stara-Zagora Str. 25
         443090 Samara
         Russia

The Court is located at:

         The Arbitration Court of Samara
         Avrory Str. 148
         443045 Samara
         Russia

The Debtor can be reached at:

         CJSC Nefteyugorskiy Bread
         Proshlennosti 4
         Neftegorsk
         Samara
         Russia


PRIBOY LLC: Creditors Must File Claims by June 6
------------------------------------------------
Creditors of LLC Kamchatskaya Fish Industry Company Priboy have
until June 6, 2008, to submit proofs of claim to:

         M. Kalmykova
         Temporary Insolvency Manager
         Dzerzhinskogo Str. 28
         680000 Khabarovsk
         Russia

The Arbitration Court of Kamchatka commenced bankruptcy
supervision procedure on the company.  The case is docketed uner
Case No. A24-678/2008.

The Debtor can be reached at:

         LLC Kamchatskaya Fish Industry Company Priboy
         Komsomolskaya Str. 5-1
         Kavalerovskoe
         Kamchatka
         Russia


SADKO FURNITURE: Creditors Must File Claims by June 6
-----------------------------------------------------
Creditors of LLC Sadko Furniture (TIN 7810082389) have until
June 6, 2008, to submit proofs of claim to:

         L. Vardanyan
         Temporary Insolvency Manager
         Zelenaya Str. 1-39
         Kstovo
         607651 Nizhniy Novgrood
         Russia

The Arbitration Court of St. Petersburg and Leningrad commenced
bankruptcy supervision procedure on the company.  The case is
docketed under Case No. A56-6511/08.

The Court is located at:

         The Arbitration Court of St. Petersburg and the                     
               
         Leningrad
         Hall 113
         Suvorovskiy Pr. 50/52
         St. Petersburg
         Russia

The Debtor can be reached at:

         LLC Sadko Furniture
         St. Petersburg
         Russia


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

         A. Mazur
         Insolvency Manager
         Post User Box 74/7
         680030 Khabarovsk
         Russia

The Arbitration Court of Primorye commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A51-13074/2007 26-233/51 B.

The Court is located at:

         Arbitration Court of Primorye
         Room 313
         Svetlanovskaya Str. 54
         Vladivostok
         Russia

The Debtor can be reached at:

         OJSC Sadovoe
         Sadovoe
         Pogranichnyj
         Primorye
         Russia


SEVERSTAL OAO: To Buy 61% Stake in African Iron Ore Group  
---------------------------------------------------------
OAO Severstal, via its Lybica Holding B.V. unit, has agreed to
acquire a 61.5% stake in African Iron Ore Group Ltd. for
US$37.5 million, RIA Novosti reports.

The company will also acquire a 6.29% stake in Mano River
Resources Inc. for GBP2 million, RIA Novosti adds.  Mano River
currently controls AIOG, which owns exploration rights for iron
ore deposits in the Putu Range area, Liberia.

Severstal said the Putu Range deposit contains at least 500
million tons of iron ore, which may substantially increase after
its Severstal Resurs unit complete detailed exploration exercise
in the area.

                         About Severstal

Headquartered in Cherepovets, Russia, OAO Severstal --
http://www.severstal.com/-- is the country's largest steel
producer, with steel production of 17.1 million tons in 2005.
The Company owns Severstal North America, the fifth largest
integrated steel maker in the U.S. with 2005 production of 2.7
million tons, and Lucchini, Italy's second largest steel group
with 2005 production of 3.5 million tons.  Severstal is one of
the world's lowest cost and most profitable steel producers,
with 2005 EBITDA per ton of around EUR150 per ton.

                         *     *     *

OAO Severstal continues to carry Ba2 Corporate Family, Senior
Unsecured Debt and Probability-of-Default ratings from Moody's
Investor Service, which said the the outlook on all ratings is
stable.  Moody's raised the company's ratings to its current
level in October 2007.

The company also carries BB long-term Foreign and Local Issuer
Credit ratings from Standard & Poor's, which said the outlook is
stable.

Severstal carries BB- Issuer Default and Senior Unsecured
ratings from Fitch, which said the outlook is positive.


STEEL LLC: Creditors Must File Claims by June 6
------------------------------------------------
Creditors of LLC Steel (TIN 2801008037) have until June 6, 2008,
to submit proofs of claim to:

         A. Bolbot
         Temporary Insolvency Manager
         Gorkogo Str. 152
         675000 Blagoveshensk
         Russia

The Arbitration Court of Khabarovsk commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. A4-1166/08-12/95B.

The Debtor can be reached at:

         LLC Steel
         Amurskaya Str. 80
         675000 Blagoveshensk
         Russia


TARNOGSKAYA AGRO-PROM-KHIMIYA: Claims Filing Period Ends June 6
---------------------------------------------------------------
Creditors of OJSC Tarnogskaya Agro-Prom-Khimiya have until
June 6, 2008, to submit proofs of claim to:

         A. Mokrov
         Insolvency Manager
         Leningradskaya Str. 40 b1
         Vologda
         Russia

The Arbitration Court of Vologda commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A13-743/2008.

The Court is located at:

         The Arbitration Court of Vologda
         Hall 4
         Gertsena Str. 1a
         Vologda
         Russia

The Debtor can be reached at:

         OJSC Tarnogskaya Agro-Prom-Khimiya
         Proletarskaya Str. 26
         Tarnogskiy Gorodok
         Russia


TYVA-GOLD: Asset Sale Slated for June 6
---------------------------------------
The insolvency manager and the bidding organizer for Federal
State Unitary Enterprise Tyva-Gold, will open a public auction
for the company's properties at 10:00 a.m. on June 6, 2008, at:

         Federal State Unitary Enterprise Tyva-Gold
         Energetikov Str. 2/1
         Kyzyl
         Tyva
         Russia

The company has set a RUR7,982,204 starting price for the assets
in auction.

Interested participants have until June 1, 2008, to deposit an
amount of RUR1,596,440 to:

         Federal State Unitary Enterprise Tyva-Gold
         Correspondent Account 40502810500000000002
         OJSC Narodnyj Bank
         Tatarstan
         Kyzyl
         Russia

Bidding documents must be submitted to:

         The Insolvency Manager
         Maerchaka Str. 65-402
         Krasnodar
         Russia

The Debtor can be reached at:

         Federal State Unitary Enterprise Tyva-Gold
         Energetikov Str. 2/1
         Kyzyl
         Tyva
         Russia


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


A.P. 3 I: Creditors Have Until June 1 to File Proofs of Claim
-------------------------------------------------------------
Creditors owed money by LLC A.P. 3 I are requested to file their
proofs of claim by June 1, 2008, to:

          Terrassenweg 1a
          6300 Zug
          Switzerland

The company is currently undergoing liquidation in Zug.  The
decision about liquidation was accepted at an extraordinary
shareholder's meeting held on April 11, 2008.


BALANDINA CONSULTING: Creditors' Proofs of Claim Due by June 1
--------------------------------------------------------------
Creditors owed money by LLC Balandina Consulting are requested
to file their proofs of claim by June 1, 2008, to:

          Stephan Stamm
          Liquidator
          JSC STAMM & CO
          Rittergasse 12
          4001 Basel
          Switzerland

The company is currently undergoing liquidation in Biel-Benken.  
The decision about liquidation was accepted at an extraordinary
shareholder's meeting held on Nov. 17, 2006.


DIABOLO LLC: Deadline to File Proofs of Claim Set May 31
--------------------------------------------------------
Creditors owed money by LLC DIABOLO are requested to file their
proofs of claim by May 31, 2008, to:

          Stefan Herrmann
          Liquidator
          Lettenweg 28
          4452 Itingen
          Switzerland

The company is currently undergoing liquidation in Zofingen.  
The decision about liquidation was accepted at a shareholder's
meeting held on April 1, 2008.


GLOBAL PET: Aargau Court Commences Bankruptcy Proceedings
---------------------------------------------------------
The Bankruptcy Service of Aargau commenced bankruptcy
proceedings against JSC Global Pet on April 14, 2008.

The Bankruptcy Service of Aargau can be reached at:

            Bankruptcy Service of Aargau
            Amtsstelle Oberentfelden
            5036 Oberentfelden
            Switzerland

The company can be reached at:

            JSC Global Pet
            Tellistrasse 114
            5000 Aarau.
            Switzerland


KIRAAS LLC: Creditors Must File Proofs of Claim by May 31
---------------------------------------------------------
Creditors owed money by LLC KIRAAS are requested to file their
proofs of claim by May 31, 2008, to:

          LLC KIRAAS
          Klosterplatz 5
          4500 Solothurn
          Switzerland

The company is currently undergoing liquidation in Solothurn.  
The decision about liquidation was accepted at an extraordinary
general meeting held on Feb. 21, 2008.


LONI TRANSPORT: Luzern Court Commences Bankruptcy Proceeding
------------------------------------------------------------
The Bankruptcy Service of Luzern commenced bankruptcy
proceedings against LLC Loni Transport on April 3, 2008.

The Bankruptcy Service of Luzern can be reached at:

            Bankruptcy Service of Luzern
            6000 Luzern 5
            Switzerland

The company can be reached at:

            LLC Loni Transport
            Neuweg 21
            6003 Luzern.
            Switzerland


MAX SCHUPFER: Proofs of Claim Filing Deadline is May 31
-------------------------------------------------------
Creditors owed money by JSC Max Schupfer & Co. are requested to
file their proofs of claim by May 31, 2008, to:

          JSC Max Schupfer & Co.
          Ledergasse 10
          6004 Luzern
          Switzerland

The company is currently undergoing liquidation in Luzern.  The
decision about liquidation was accepted at an extraordinary
general meeting held on April 11, 2008.


R. KONIG: May 30 Set as Deadline to File Proofs of Claim
--------------------------------------------------------
Creditors owed money by LLC R. Konig are requested to file their
proofs of claim by May 30, 2008, to:

          Rene Konig
          Liquidator
          Alte Landstrasse 66
          5723 Teufenthal
          Switzerland

The company is currently undergoing liquidation in Hildisrieden.  
The decision about liquidation was accepted at an extraordinary
shareholder's meeting held on Feb. 15, 2008.


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


CHERVONY ZHOVTEN: Proofs of Claim Filing Deadline Set June 5
------------------------------------------------------------
Creditors of State Enterprise of Research Farm Chervony Zhovten
(code EDRPOU 05460456) have until June 5, 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 supervision
procedure on the company on April 24, 2008.  The case is
docketed as B-39/31-07.

The Debtor can be reached at:

         State Enterprise of Research Farm Chervony Zhovten
         Balakleya District
         Veseloye
         64235 Kharkov
         Ukraine


DNIEPROPETROVSK CHEMISTRY: Creditors Must File Claims by June 5
--------------------------------------------------------------
Creditors of LLC Dniepropetrovsk Chemistry Repair (code EDRPOU
04643829) have until June 5, 2008, to submit proofs of claim to:

         The Economic Court of Dnipropetrovsk
         Kujbishev Str. 1a
         49600 Dnipropetrovsk
         Ukraine

The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against the company after finding it insolvent on
April 18, 2008.  The case is docketed as B 29/16-08.

The Debtor can be reached at:

         LLC Dniepropetrovsk Chemistry Repair
         49007 Dnipropetrovsk
         Ukraine


FINANCE-LAW CONSULTING: Creditors Must File Claims by June 5
------------------------------------------------------------
Creditors of LLC Finance-Law Consulting Alliance (code EDRPOU
33405343) have until June 5, 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 March 27, 2008, after finding it
insolvent.  The case is docketed as 43/277.

The Debtor can be reached at:

         LLC Finance-Law Consulting Alliance
         Apartment 21
         Scherbakov Str. 56/7
         04111 Kiev
         Ukraine


INDUSTRIAL TRADE: Creditors Must File Claims by June 5
------------------------------------------------------
Creditors of LLC Industrial Trade Alliance (code EDRPOU
33661553) have until June 5, 2008, to submit proofs of claim to:
         
         The Economic Court of Kiev
         Komintern Str. 16
         01032 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 B 11/101-08.

The Debtor can be reached at:

         LLC Industrial Trade Alliance
         Apartment 16
         Lomonosov Str. 34
         Vishnevoye
         Kiev Ukraine


LAN-AGRICO LLC: Creditors Must File Claims by June 5
----------------------------------------------------
Creditors of Agricultural LLC Lan-Agrico (code EDRPOU 33220405)  
have until June 5, 2008, to submit proofs of claim to:

         The Economic Court of Chernigov
         Mir Avenue 20
         14000 Chernigov
         Ukraine

The Economic Court of Chernigov commenced bankruptcy proceedings
against the company after finding it insolvent on April 1, 2008.
The case is docketed as 16/50b/23b.

The Debtor can be reached at:

         Agricultural LLC Lan-Agrico
         Frunze Str. 14
         Krasniye Partizany
         Nosovsky District
         Chernigov
         Ukraine


PODOLYE-5 CJSC: Creditors Must File Claims by June 5
----------------------------------------------------
Creditors of CJSC Agricultural Producers Podolye-5 (code EDRPOU
31347971) have until June 5, 2008, to submit proofs of claim to:

         The Economic Court of Hmelnitskij
         Nezalezhnosti Square 1
         29000 Hmelnitskih
         Ukraine

The Economic Court of Hmelnitskij commenced bankruptcy
proceedings against the company after finding it insolvent.  

The Debtor can be reached at:

         CJSC Agricultural Producers Podolye-5
         Vykhvatnovtsy
         Kamianets-Podolsky District
         Hmelnitsky
         Ukraine


RUDPOL-INVEST: Proofs of Claim Filing Deadline Set June 5
---------------------------------------------------------
Creditors of Joint Ukrainian-Polish Enterprise Rudpol-Invest
(code EDRPOU 21343402) have until June 5, 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 7, 2008.  The case
is docketed as 13/79-B.

The Debtor can be reached at:

         Joint Ukrainian-Polish Enterprise Rudpol-Invest
         Kamianetskaya Str. 257
         28000 Hmelnitsky
         Ukraine


WESTTRADEINDUSTRY LLC: Creditors Must File Claims by June 5
-----------------------------------------------------------
Creditors of LLC Westtradeindustry (code EDRPOU 34029153) have
until June 5, 2008, to submit proofs of claim to:

         The Economic Court of Lvov
         Lichakivska Str. 81
         79010 Lvov
         Ukraine

The Economic Court of Lvov commenced bankruptcy proceedings
against the company on April 24, 2008, after finding it
insolvent.  The case is docketed as 29/69.

The Debtor can be reached at:

         LLC Westtradeindustry
         Lazarenko Str. 1
         79000 Lvov
         Ukraine


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


AFC BOURNEMOUTH: Administrator Expects Final Takeover in a Month
----------------------------------------------------------------
AFC Bournemouth administrator Gerald Krasner expects to
finalized the club's takeover next month, BBC News reports.

Mr. Krasner told BBC that while he is optimistic that a
successful takeover deal will be reached, "it won't be for a
month yet."

According to Mr. Krasner, the takeover process will take three
to four weeks, the paper relates.

As previously reported in the TCR-Europe on May 6, 2008, former
AFC Bournemouth chairman Jeff Mostyn, has emerged as the club's
preferred bidder after two other offers failed to materialize.  
The club, also known as the Cherries, went into administration
in February.

Mr. Mostyn, backed by AFC Bournemouth manager Kevin Bond, has
injected GBP80,000 in cash into the club to keep it running
until the end of the season.

The club automatically received a 10-point deduction from the
Football League for going into administration.

AFC Bournemouth -- http://www.afcb.premiumtv.co.uk/-- is an
English football team currently playing in Football League One.
The side plays at the Fitness First Stadium (Dean Court) in
Kings Park, Bournemouth, Dorset.  The club has existed since
1899.


METRONET RAIL: Transport for London Takes Over Operations
------------------------------------------------------
PPP administrators from Ernst & Young transferred May 27, 2008,
Metronet Rail Group's business to two firms owned by Transport
for London.  The High Court ordered the transfer.

"A dedicated team from Ernst & Young has worked with Metronet
over the past 10 months to ensure the business ran successfully
during the PPP administration process," Alan Bloom, PPP
administrator said.

"The fact we have now been granted a date for transfer is
fantastic news for all involved and a major step in the
restructuring of this important infrastructure management
company which provides an essential service to all Londoners."
Mr. Bloom continued.

                       About Metronet

The Metronet Rail Group -- http://www.metronetrail.com/-- is
responsible for upgrading, replacing and maintaining two-thirds
of London Underground's infrastructure -- its trains, stations,
signaling, track, tunnels and bridges -- under a 30-year Public
Private Partnership (PPP) contract which came into operation in
April 2003.

The Metronet Rail Group owns and operates Metronet Rail BCV Ltd.
and Metronet Rail SSL Lte. -- which maintain the Bakerloo,
Central, Victoria, and Waterloo & City lines (BCV) and Circle,
District, Metropolitan, Hammersmith & City and East London lines
(SSL).

On July 18, 2007, Metronet Rail BCV Ltd. and Metronet Rail SSL
Ltd., entered Administration; Alan Bloom, Maggie Mills, Roy
Bailey and Stephen Harris, partners and directors of Ernst &
Young LLP, were appointed PPP Administrators.  This followed the
PPP Arbiter's Interim Determination award of just GBP121 million
for Metronet Rail BCV, when the company had been seeking a
GBP551 million Interim Determination and GBP992 million in
total.


                            *********

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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