/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/080606.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 Friday, June 6, 2008, Vol. 9, No. 112 Headlines A U S T R I A KARNER & EISINGER: Claims Registration Period Ends July 1 LIMBAO-TEC LLC: Claims Registration Period Ends June 17 MULTIMEDIA JAUNTAL: Claims Registration Period Ends June 16 NITSCHE & WENDL: Claims Registration Period Ends June 26 STEYER HOLZBAU: Claims Registration Period Ends July 15 B U L G A R I A KREMIKOVTZI AD: ArcelorMittal Expects Bankruptcy Ruling Soon F I N L A N D M-REAL CORP: E.U. Approves Reflex Mill Sale to Arjowiggins M-REAL CORP: To Reduce Coated Fine Paper Production to 20% F R A N C E AKERYS HOLDINGS: S&P Places B+ Rating on CreditWatch Negative LEAR CORP: Revises 2008 Sales Outlook to US$15.3 Billion PONCIN YACHTS: Commercial Court Grants Creditor Protection G E R M A N Y ALPE BAU: Claims Registration Period Ends June 21 ANHALTINER FENSTERWERK: Claims Registration Period Ends June 21 B & G GEBAUDEREINIGUNG: Claims Registration Ends June 23 BATTELLE ZENTRUM: Claims Registration Ends June 23 BESTATTUNGSHAUS ALBERS: Claims Registration Ends June 23 GEISE BAU: Claims Registration Period Ends June 20 GLOBAL FINANCE: Claims Registration Ends June 23 GPS GMBH: Claims Registration Ends June 23 HEINZ LORZ: Claims Registration Period Ends June 23 HELM-GASTRO GMBH: Claims Registration Period Ends June 23 HOEFFER GMBH: Claims Registration Period Ends June 20 HSG METALL: Claims Registration Period Ends June 20 ISM GMBH: Claims Registration Period Ends June 20 INFORM PLASTIK: Claims Registration Period Ends June 20 ISOPACK GMBH: Claims Registration Period Ends June 23 LUDWIG AUTOMATEN: Claims Registration Period Ends June 23 VORIX GMBH: Claims Registration Period Ends June 20 WIPPENBEKK BETRIEBS: Claims Registration Period Ends June 20 ZAREEN PERSONAL: Claims Registration Period Ends June 20 I R E L A N D KEVERVILLE LTD: Debts Prompt ACC Bank to Call In Receiver I T A L Y ALITALIA SPA: Italian Government Restarts Stake Sale ALITALIA SPA: European Commission May Launch Probe vs Loan ALITALIA SPA: British Airways Asks EU to Reject Emergency Loan K A Z A K H S T A N KAZAKHSTAN TELEKOM: Creditors Must File Claims by July 11 N-OIL LLP: Claims Deadline Slated for July 16 OIL SNAB: Claims Filing Period Ends July 16 TRANS-MOST LLP: Creditors' Claims Due on July 15 TRANS OIL: Claims Registration Ends July 15 VEGA OJSC: Claims Filing Period Ends July 16 K Y R G Y Z S T A N BIPROM COMPANY: Creditors Must File Claims by July 2 R U S S I A AQUA CJSC: Creditors Must File Claims by July 17 CONTRACT CJSC: Creditors Must File Claims by June 17 ENGELSSKIY FISH: Creditors Must File Claims by July 17 EURO-SIB-STROY: Creditors Must File Claims by June 17 GPMK-4 OJSC: Creditors Must File Claims by July 17 KASSIYA CJSC: Creditors Must File Claims by June 17 KENGA CJSC: Creditors Must File Claims by July 17 KHARGANA LLC: Court Names A. Mironov as Insolvency Manager KORTUZSKOE CJSC: Creditors Must File Claims by July 17 MP MO ZATO: Asset Sale Slated for June 20 NOVOLIPETSK STEEL: Earns US$617.7 Million for First Quarter 2008 SEV-KAV-ELECTRON-PRIBOR: Creditors Must File Claims by June 17 OMZ OAO: S&P Rates Proposed RUR1.6 Billion Sr. Bond at ruBB SODRUZHESTVO LLC: Court Names G. Kovalenko as Insolvency Manager SOROKINA AND PARTNERS: Creditors Must File Claims by June 17 STAR-LINE LLC: Tyumen Bankruptcy Hearing Slated for Sept. 11 TRANSTELECOM JSC: Fitch Places IDR at B+ on Segment Challenges UNIASTRUM: Weak Performance Cues Moody's B2 Ratings on Watch Neg YUZHSKAYA POULTRY: Ivanovo Bankruptcy Hearing Slated for Oct. 15 S P A I N EDITIS HOLDING: Moody's Puts Ba3 Rating Under Review U K R A I N E AGRICULTURAL INDUSTRIAL: Creditors Must File Claims by June 20 AMULET 21: Creditors Must File Claims by June 20 ATLANT PLUS: Proofs of Claim Deadline Set June 20 BOGRUS LLC: Creditors Must File Claims by June 20 DOVIRA LLC: Creditors Must File Claims by June 19 ENGINEER SYSTEMS: Creditors Must File Claims by June 19 KRIVBASRUDBUILDING CJSC: Proofs of Claim Deadline Set June 19 LAN LLC: Creditors Must File Claims by June 19 ORBITA OJSC: Proofs of Claim Deadline Set June 19 PRESTIGE-COM: Creditors Must File Claims by June 19 RUBEZHNOYE MOTORCAR 10917: Creditors' Claims Due June 20 SLAVA LLC: Creditors Must File Claims by June 20 SOUTH ELEVATOR: Creditors Must File Claims by June 19 TALNEGASBUILDING: Creditors Must File Claims by June 19 TECHNOEXPODEVICE LLC: Creditors Must File Claims by June 19 YUSAN-GROUP LLC: Creditors Must File Claims by June 19 ZARIA LLC: Creditors Must File Claims by June 20 U N I T E D K I N G D O M AUTO-TECHNOLOGY LTD: Brings In Liquidators from Mazars BODY TEMPLE: Calls In Liquidators from Vantis BRITISH AIRWAYS: Asks EU to Reject Alitalia Emergency Loan CORBY BOTTLERS: Administrators Sell Business to Champagne Indage CRAIG DACE: Andrew Appleyard Leads Liquidation Procedure DARLINGTON WINES: Sells Business to Champagne Indage FLYING COLOURS: Hires Liquidators from Tenon Recovery FORD MOTOR: To Cut White-Collar Salary Costs by 15% LAKELAND TIMBER: Credit Crunch Hits Business; Halts Operations BOOK REVIEW: Trump: America's Most Powerful Real Estate Baron ********* ============= A U S T R I A ============= KARNER & EISINGER: Claims Registration Period Ends July 1 --------------------------------------------------------- Creditors owed money by OEG Karner & Eisinger (FN 193646z) have until July 1, 2008, to file written proofs of claim to court- appointed estate administrator Erich Allinger at: Mag. Erich Allinger Hauptplatz 11 2700 Wiener Neustadt Austria Tel: 02622/23228 Fax: 02622/23228 26 E-mail: e.allinger@schober.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:00 a.m. on July 15, 200 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 Wiener Neustadt, Austria, the Debtor declared bankruptcy on May 14, 2008 (Bankr. Case No. 11 S 45/08s). LIMBAO-TEC LLC: Claims Registration Period Ends June 17 ------------------------------------------------------- Creditors owed money by LLC Limbao-Tec (FN 132396a) have until June 17, 2008, to file written proofs of claim to court- appointed estate administrator Friedrich Nusterer at: Dr. Friedrich Nusterer Riemerplatz 1 3100 St. Poelten Austria Tel: 02742/47087 Fax: 02742/47089 E-mail: ra-nusterer@aon.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:30 a.m. on July 8, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of St. Poelten Room 216 Second Floor Old Building St. Poelten Austria Headquartered in Pottenbrunn, Austria, the Debtor declared bankruptcy on May 15, 2008, (Bankr. Case No. 14 S 77/08a). MULTIMEDIA JAUNTAL: Claims Registration Period Ends June 16 ----------------------------------------------------------- Creditors owed money by LLC Multimedia Jauntal (FN 237799f) have until June 16, 2008, to file written proofs of claim to court- appointed estate administrator Gerhard Brandl at: Dr. Gerhard Brandl Kardinalschuett 7 9020 Klagenfurt Austria Tel: 0463/55577 Fax: 0463/502191 E-mail: rechtsanwalt@kanzlei-brandl.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:00 a.m. on June 24, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Klagenfurt Room 225 Second Floor Klagenfurt Austria Headquartered in Bleiburg, Austria, the Debtor declared bankruptcy on May 14, 2008 (Bankr. Case No. 40 S 29/08t). NITSCHE & WENDL: Claims Registration Period Ends June 26 -------------------------------------------------------- Creditors owed money by LLC Nitsche & Wendl (FN 101238f) have until June 26, 2008, to file written proofs of claim to court- appointed estate administrator Thomas Humer at: Dr. Thomas Humer Ringstrasse 4 4600 Wels Austria Tel: 07242/47240 Fax: 07242/68650 E-mail: office@hofer-humer.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 11:00 a.m. on July 3, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Wels Hall 101 First Floor Maria Theresia Str. 12 Wels Austria Headquartered in Marchtrenk, Austria, the Debtor declared bankruptcy on May 15, 2008 (Bankr. Case No. 20 S 62/08f). STEYER HOLZBAU: Claims Registration Period Ends July 15 ------------------------------------------------------- Creditors owed money by LLC Steyer Holzbau (FN 64329b) have until July 15, 2008, to file written proofs of claim to court- appointed estate administrator Philipp Casper at: Mag. Philipp Casper Kalchberggasse 1 8010 Graz Austria Tel: 0316/830550 Fax: 0316/813717 E-mail: philipp.casper@aaa-law.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 2:20 p.m. on July 31, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Graz Room 230 Hall L Graz Austria Headquartered in Ilz, Austria, the Debtor declared bankruptcy on May 15, 2008 (Bankr. Case No. 25 S 35/08x). =============== B U L G A R I A =============== KREMIKOVTZI AD: ArcelorMittal Expects Bankruptcy Ruling Soon ------------------------------------------------------------ ArcelorMittal expects the Sofia City Court to commence bankruptcy proceedings against Kremikovtzi AD, Elena Koinova writes for Sofia Echo. The court, Reuters relates, will convene on June 17, 2008, to hear the bankruptcy petition filed against Kremikovtzi by its creditors, who are seeking around US$1.34 billion in claims from the company. Volker Schwich, Vice President Projects for Central and Eastern Europe at ArcelorMittal, told Sofia Echo that he expects the bankruptcy proceedings to last around four months. Mr. Schwich told Reuters that if Kremikovtzi is declared bankrupt, ArcelorMittal would present a proposal to the Bulgarian government on how to stabilize the steelmaker's situation until its assets are up for sale. ArcelorMittal extended May 21, 2008, a EUR30 million bridging loan to Kremikovtzi, and said it would invest EUR500 million into the company if the government agrees to its US$1.2 million takeover offer. According to Mr. Schwich, Reuters relates, ArcelorMittal would immediately infuse over US$100 million into Kremikovtzi to buffer its coffers and another US$30 million to meet minimum environmental requirements. Mr. Schwich added to Sofia Echo that his group is currently negotiating with Kremikovtzi's creditors. Meanwhile, Kostyantin Zhevago, a Ukrainian billionaire also planning to acquire Kremikovtzi, has proposed to inject US$90 million in working capital in exchange for joint management for at least a year, Reuters relates. Mr. Zhevago said he would invest up to US$650 million to upgrade the Kremikovtzi's production facilities and up to US$120 million to meet environmental standards. About Kremikovtzi AD Headquartered in Sofia, Bulgaria, Kremikovtzi AD -- http://www.kremikovtzi.com/-- manufactures iron and steel. Its product range includes coke and chemical products, ferro-alloys and metallurgical lime. The Company operates through a number of subsidiaries including Kremikovtzi Trade, Independent Laboratory for Analysis 2000 Ltd., Kremikovtzi - Ore Mining Ltd., Heavy Machinery Ltd., Kremikovtzi Auto -Transport Ltd., Kremikovtzi CAR Ltd. and Company for food and food products * * * Kremikovtzi AD currently carries Moody's Investors Service corporate family rating of Caa3 with a developing outlook. The Sofia City Court appointed two temporary receivers to Kremikovtzi AD on April 30, 2008, after a group of creditors led by Peshtoremont AD filed bankruptcy petition against the company. ============= F I N L A N D ============= M-REAL CORP: E.U. Approves Reflex Mill Sale to Arjowiggins ---------------------------------------------------------- The European Commission has approved the sale of M-real's Reflex mill to Arjowiggins with the condition that Arjowiggins divests the Reflex carbonless and digital imaging businesses to a third party within 180 days time. Mr. Mikko Helander, CEO of M-real, said "M-real and Arjowiggins are now jointly analysing the decision and considering the possibilities how to move forward. M-real will give further information as soon as possible. Reflex mill operations continue normally and with full support of M-real." Headquartered in Espoo, Finland, M-real Corp. -- http://www.M-Real.com/-- produces and distributes coated and uncoated fine papers for printing and packaging industries. The company has operations in Brazil and Mexico. * * * M-real Oyj continues to carry a B2 long-term corporate family rating and a B2 senior unsecured debt rating from Moody's Investor Service, with negative outlook. Standard & Poor's rates the company's long-term foreign and local issuer credit at B+ and its short-term foreign and local issuer credit at B. The outlook is negative. M-REAL CORP: To Reduce Coated Fine Paper Production to 20% ---------------------------------------------------------- M-real will reduce production of coated fine papers between June 2008 and August 2008 to align production with expected market demand in Europe during the summer months, limit export volumes and control capital tied to inventories. Weak US dollar does not allow big volume increases in overseas market to compensate seasonally decreasing demand in Europe. The output will be reduced by between 10 and 20 per cent depending on product and market mix. Details will be discussed with key customers and the required service levels will be maintained throughout this period. Announced reductions are expected to have no personnel effect. M-real's total coated fine paper capacity is about 1.5 million tons per annum. eadquartered in Espoo, Finland, M-real Corp. -- http://www.M-Real.com/-- produces and distributes coated and uncoated fine papers for printing and packaging industries. The company has operations in Brazil and Mexico. * * * M-real Oyj continues to carry a B2 long-term corporate family rating and a B2 senior unsecured debt rating from Moody's Investor Service, with negative outlook. Standard & Poor's rates the company's long-term foreign and local issuer credit at B+ and its short-term foreign and local issuer credit at B. The outlook is negative. =========== F R A N C E =========== AKERYS HOLDINGS: S&P Places B+ Rating on CreditWatch Negative ------------------------------------------------------------- Standard & Poor's Ratings Services placed its 'B+' corporate credit rating on France-based homebuilder Akerys Holdings S.A. on CreditWatch with negative implications. Accordingly, Standard & Poor's also placed the 'B' rating on Akerys' EUR300 million floating-rate notes due 2014 on CreditWatch negative. "The CreditWatch placement reflects Akerys' weaker-than-expected results in the third quarter of its fiscal year 2008, and an ongoing lack of visibility with regards to the company's future performance in an increasingly challenging property development market," said Standard & Poor's credit analyst Pierre Georges. The ratings continue to reflect the company's aggressive financial profile and lack of geographic diversity, as well as the property development industry's inherent characteristics of cyclicality, working capital intensity, low barriers to entry, and high fragmentation. These negative factors are only partly mitigated by Akerys' relatively prudent risk policies; ongoing focus on cash flows and liquidity; and the added benefits derived from ancillary financial services. S&P expects to resolve the CreditWatch placement in the coming weeks. "In resolving the CreditWatch, we will have further discussions with management regarding Akerys' future operating performance and potential actions that it could implement to improve operations," said Mr. Georges. S&P could lower the ratings if credit metrics, including debt leverage and coverage of interests by operating cash flows after changes in working capital, appear unlikely to recover soon. LEAR CORP: Revises 2008 Sales Outlook to US$15.3 Billion -------------------------------------------------------- Lear Corporation disclosed revisions to its 2008 financial outlook based on lower North American vehicle production and increased commodity costs. Subsequent to the 2008 financial outlook the Company provided on April 29, 2008, Lear's major customers, industry forecasting services and others have announced downward revisions in their estimates for 2008 North American vehicle production based on lower sales rates for full-size pickup trucks and large sport utility vehicles. In response to these recent announcements, Lear is revising its 2008 forecast for North American industry production from around 14.1 million vehicles to around 13.8 million vehicles. In addition, raw material costs, particularly costs related to steel, have continued to increase. As a result, Lear is revising its sales outlook for 2008 downward to around US$15.3 billion, from the previous outlook of US$15.5 billion, and lowering income before interest, other expense, income taxes, restructuring costs and other special items (core operating earnings) to a range of US$600 to US$640 million from the previous range of US$660 to US$700 million. In addition, Lear is increasing its estimated restructuring investment for 2008 to about US$125 million. The revised outlook for full-year 2008 free cash flow is around US$200 million. Lear is continuing to evaluate and aggressively implement cost reductions and restructuring actions to mitigate the impact of lower production volumes and rising commodity prices. Furthermore, the production realignment initiatives recently announced by certain North American manufacturers are anticipated to require further restructuring investments in future years. "Industry conditions in North America have continued to be challenging, with the lowest expected production volumes since the early 1990s and unprecedented increases in raw material and energy costs," commented Bob Rossiter, Lear's Chairman, President and CEO. "Like our customers, we are continuing to aggressively realign our capacity and implement structural cost reductions to improve our longer-term competitiveness. We are also expanding our operations outside North America, which represented around 55% of our net sales in 2007." About Lear Corporation Based in Southfield, Michigan, Lear Corporation (NYSE:LEA) -- http://www.lear.com/-- supplies automotive interior systems, electrical distribution systems and related electronic products. The company has around 91,000 employees at 215 facilities in 35 countries. Outside the United States, Lear has subsidiaries in Germany, Luxembourg, Sweden, Singapore, China, India and Mexico, among others. * * * Lear Corp. still carries Standard & Poor's Ratings Services' B+ corporate credit, Long-Term Foreign and Local Issuer Credit ratings, which the rating agency affirmed in May 2008. Lear Corp. also carries B2 Corporate Family, Bank Loan Debt and Probability-of-Default ratings, and B3 Senior Unsecured Debt rating from Moody's Investors Service, which said the outlook is stable. PONCIN YACHTS: Commercial Court Grants Creditor Protection ---------------------------------------------------------- The Tribunal de Commerce of La Rochelle in France has placed Poncin Yachts SA under a six-month creditor protection to allow the company to renegotiate its EUR22 million debt, Albertina Torsoli writes for Bloomberg News. Poncin CEO Olivier Poncin, Bloomberg News relates, blamed the company's financial demise to the slowdown in global economy -- particularly the recent subprime lending crisis -- and more aggressive competition. Mr. Poncin added to Bloomberg News that sailboat sales have dropped up to 50% particularly in Spain. Exports account for 70% of Poncin's sales, Les Echos relates. Asset Sale According to Mr. Poncin, Bloomberg News relates, the company is holding talks to sell its assets -- including its loss-making Kelt unit -- to gain cash for debt repayment. The CEO, however, said it has yet to secure a deal to sell its assets, adding that he is not willing to make disposals at any price. The company, which was set to repay around EUR10 million in debt in June, is drafting a business plan due end of 2008. About Poncin Yacths Headquartered in Marans, France, Poncin Yachts SA -- http://www.poncinyachts.com/-- manufactures and sells leisure boats. The company produces provides a yacht brokerage service that sells new and second-hand boats. ============= G E R M A N Y ============= ALPE BAU: Claims Registration Period Ends June 21 ------------------------------------------------- Creditors of ALPE Bau GmbH have until June 21, 2008, to register their claims with court-appointed insolvency manager Dirk Wittkowski. Creditors and other interested parties are encouraged to attend the meeting at 11:45 a.m. on Aug. 21, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of 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. Dirk Wittkowski Kirchblick 11 14129 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against ALPE Bau GmbH on April 11, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: ALPE Bau GmbH Schillerstr. 50 13158 Berlin Germany ANHALTINER FENSTERWERK: Claims Registration Period Ends June 21 --------------------------------------------------------------- Creditors of Anhaltiner Fensterwerk GmbH have until June 21, 2008, to register their claims with court-appointed insolvency manager Joachim M. E. Voigt-Salus. Creditors and other interested parties are encouraged to attend the meeting at 2:20 p.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 Dessau-Rosslau Hall 123 Willy-Lohmann-Str. 33 Dessau-Rosslau Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Joachim M. E. Voigt-Salus Rankestrasse 33 10789 Berlin Germany Tel: 030/2128020 Fax: 030/21280222 The District Court of Dessau-Rosslau opened bankruptcy proceedings against Anhaltiner Fensterwerk GmbH on May 14, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Anhaltiner Fensterwerk GmbH Biaser Strasse 33 39261 Zerbst Germany B & G GEBAUDEREINIGUNG: Claims Registration Ends June 23 -------------------------------------------------------- Creditors of B & G Gebaudereinigung GmbH have until June 23, 2008, to register their claims with court-appointed insolvency manager Alexander Saponjic. Creditors and other interested parties are encouraged to attend the meeting at 9:00 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 Munich Meeting Hall 102 Infanteriestr. 5 80097 Munich Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Alexander Saponjic Herzogspitalstr. 13 80331 Munich Germany Tel: 089/5527 5389 Fax: 089/5527 5390 The District Court of Munich opened bankruptcy proceedings against B & G Gebaudereinigung GmbH on May 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: B & G Gebaudereinigung GmbH Attn: Guelfiye Tastan, Manager Gollierstr. 70 C/5 80339 Munich Germany BATTELLE ZENTRUM: Claims Registration Ends June 23 -------------------------------------------------- Creditors of Battelle Zentrum GmbH have until June 23, 2008, to register their claims with court-appointed insolvency manager Tim Schneider. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on July 21, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Giessen Hall 406 Fourth Floor Building B Gutfleischstrasse 1 35390 Giessen 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: Tim Schneider Marktlaubenstrasse 9 35390 Giessen Germany Tel: 0641/93243-0 Fax: 0641/932-4350 The District Court of Giessen opened bankruptcy proceedings against Battelle Zentrum GmbH on May 23, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Battelle Zentrum GmbH Tannenring 10 35428 Langgoens Germany Attn: Gerhard Moerler, Manager Alte Brauerei 10 35510 Butzbach Germany BESTATTUNGSHAUS ALBERS: Claims Registration Ends June 23 -------------------------------------------------------- Creditors of Bestattungshaus Albers GmbH have until June 23, 2008, to register their claims with court-appointed insolvency manager Petra Wiche-Wendler. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on July 24, 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 Fuerth Hall 3 Ground Floor Baumenstrasse 32 Fuerth 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: Petra Wiche-Wendler Neumarkter Str. 152 92342 Freystatt-Rettelloh Germany Tel: 09179/963461 Fax: 09179/9643279 The District Court of Fuerth opened bankruptcy proceedings against Bestattungshaus Albers GmbH on April 23, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Bestattungshaus Albers GmbH Jaminstrasse 19 91052 Erlangen Germany GEISE BAU: Claims Registration Period Ends June 20 -------------------------------------------------- Creditors of Geise Bau GmbH have until June 20, 2008, to register their claims with court-appointed insolvency manager Michael Selker. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on July 21, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of 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: Michael Selker Niedersachsenstr. 11a 49074 Osnabrueck Germany Tel: 0541/357450 Fax: 0541/3574511 The District Court of Osnabrueck opened bankruptcy proceedings against Geise Bau GmbH on May 15, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Geise Bau GmbH Dratumer Strasse 26 49326 Melle-Gesmold Germany GLOBAL FINANCE: Claims Registration Ends June 23 ------------------------------------------------ Creditors of Global Finance GmbH have until June 23, 2008, to register their claims with court-appointed insolvency manager Sascha Khan. Creditors and other interested parties are encouraged to attend the meeting at 11:00 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 of Flensburg Hall A 220 Flensburg 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: Sascha Khan Muehlenkamp 39 22303 Hamburg Germany The District Court of Flensburg opened bankruptcy proceedings against Global Finance GmbH on April 21, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Global Finance GmbH Rote Strasse 19 a 24937 Flensburg Germany GPS GMBH: Claims Registration Ends June 23 ------------------------------------------ Creditors of GPS GmbH have until June 23, 2008, to register their claims with court-appointed insolvency manager Holger Bluemle. Creditors and other interested parties are encouraged to attend the meeting at 10:30 a.m. on July 28, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Ludwigsburg Hall 2008 Schorndorfer Str. 28 71638 Ludwigsburg 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: Holger Bluemle Koenigstr. 10c 70173 Stuttgart Germany Tel: 0711/782-8162 The District Court of Ludwigsburg opened bankruptcy proceedings against GPS GmbH on May 29, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: GPS GmbH Attn: Frank Pohle and Niels Scholl, Managers Neuenbuehl 1 71287 Weissach Germany HEINZ LORZ: Claims Registration Period Ends June 23 --------------------------------------------------- Creditors of Heinz Lorz GmbH have until June 23, 2008, to register their claims with court-appointed insolvency manager Dirk Hammes. Creditors and other interested parties are encouraged to attend the meeting at 9:30 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 Duisburg Hall C315 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 Heinz Lorz GmbH on May 5, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Heinz Lorz GmbH Attn: Joerg Lorz, Manager Kaiserstrasse 5 47229 Duisburg Germany HELM-GASTRO GMBH: Claims Registration Period Ends June 23 --------------------------------------------------------- Creditors of Helm-Gastro GmbH have until June 23, 2008, to register their claims with court-appointed insolvency manager Gerhard Brinkmann. Creditors and other interested parties are encouraged to attend the meeting at 10:15 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 Stralsund Hall AE 26 House A Bielkenhagen 9 Stralsund Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Gerhard Brinkmann Freiligrathstrasse 1 18055 Rostock Germany The District Court of Stralsund opened bankruptcy proceedings against Helm-Gastro GmbH on May 22, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Helm-Gastro GmbH Attn: Arne Helm, Manager Doerpstraat 19 18565 Neuendorf Germany HOEFFER GMBH: Claims Registration Period Ends June 20 ----------------------------------------------------- Creditors of Hoeffer GmbH have until June 20, 2008, to register their claims with court-appointed insolvency manager Robert Fliegner. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on July 29, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Wuppertal Meeting Hall A234 Second Floor Eiland 2 42103 Wuppertal Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Robert Fliegner Gruenewalder Str. 29-31 42657 Solingen Germany Tel: 0212/2494 200 Fax: 0212/2494 201 The District Court of Wuppertal opened bankruptcy proceedings against Hoeffer GmbH on May 21, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Hoeffer GmbH Lindenallee 22a 42349 Wuppertal Germany HSG METALL: Claims Registration Period Ends June 20 --------------------------------------------------- Creditors of HSG Metall GmbH have until June 20, 2008, to register their claims with court-appointed insolvency manager Andreas Rohe. Creditors and other interested parties are encouraged to attend the meeting at 1:00 p.m. on July 21, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Neubrandenburg Hall 1 Fr.-Engels-Ring 15-18 Neubrandenburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Andreas Rohe Kamigstrasse 2 17373 Neubrandenburg Germany The District Court of Neubrandenburg opened bankruptcy proceedings against HSG Metall GmbH on May 15, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: HSG Metall GmbH Gievitzer Strasse 88 17192 Waren Germany ISM GMBH: Claims Registration Period Ends June 20 ------------------------------------------------- Creditors of ISM GmbH have until June 20, 2008, to register their claims with court-appointed insolvency manager T. Alter. Creditors and other interested parties are encouraged to attend the meeting at 11:30 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 Erfurt Hall 15 Judicial Center Rudolfstr. 46 99092 Erfurt 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: T. Alter Schillerstrasse 2 99096 Erfurt Germany The District Court of Erfurt opened bankruptcy proceedings against ISM GmbH on May 20, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: ISM GmbH Attn: Juergen Meinel, Manager Johann-Sebastian-Bach-Strasse 1a 99423 Weimar Germany INFORM PLASTIK: Claims Registration Period Ends June 20 ------------------------------------------------------- Creditors of Inform Plastik GmbH have until June 20, 2008, to register their claims with court-appointed insolvency manager Hartmut Wiesinger. Creditors and other interested parties are encouraged to attend the meeting at 11:00 a.m. on July 8, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Detmold Meeting Room 12 Ground Floor Gerichtsstr. 6 32756 Detmold 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: Hartmut Wiesinger Gerichtsstr. 12 32791 Lage Germany The District Court of Detmold opened bankruptcy proceedings against Inform Plastik GmbH on May 19, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Inform Plastik GmbH Weststr. 23 32657 Lemgo Germany ISOPACK GMBH: Claims Registration Period Ends June 23 ----------------------------------------------------- Creditors of Isopack GmbH have until June 23, 2008, to register their claims with court-appointed insolvency manager Michael George. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on June 26, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Wolfratshausen Meeting Room 3/I Station Route 18 Wolfratshausen 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: Michael George Hans-Urmiller-Ring 11 82515 Wolfratshausen Germany Tel: 08171/38730-100 Fax: 08171/38730-222 The District Court of Wolfratshausen opened bankruptcy proceedings against Isopack GmbH on May 2, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Isopack GmbH Brentenstr. 9 d 83734 Hausham Germany LUDWIG AUTOMATEN: Claims Registration Period Ends June 23 --------------------------------------------------------- Creditors of Ludwig Automaten GmbH have until June 23, 2008, to register their claims with court-appointed insolvency manager Dr. Oliver Liersch. Creditors and other interested parties are encouraged to attend the meeting at 11:15 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: Dr. Oliver Liersch Karl-Wiechert-Allee 1 c 30625 Hannover Germany Tel: 0511-554706-0 Fax: 0511-554706-99 E-mail: OLiersch@schubra.de The District Court of Celle Nebenstelle opened bankruptcy proceedings against Ludwig Automaten GmbH on April 30, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Ludwig Automaten GmbH Attn: Uwe Ludwig, Manager Stechinellistr. 7 29308 Winsen/Aller Germany VORIX GMBH: Claims Registration Period Ends June 20 --------------------------------------------------- Creditors of Vorix GmbH have until June 20, 2008, to register their claims with court-appointed insolvency manager Romy Metzger. 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 Erfurt Hall 12 Judicial Center Rudolfstr. 46 99092 Erfurt 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. Romy Metzger Steigerstr.30 99096 Erfurt Germany The District Court of Erfurt opened bankruptcy proceedings against Vorix GmbH on May 16, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Vorix GmbH Konrad Zuse Strasse 12 99099 Erfurt Germany WIPPENBEKK BETRIEBS: Claims Registration Period Ends June 20 ------------------------------------------------------------ Creditors of WIPPENBEKK Betriebsgesellschaft mbH have until June 20, 2008, to register their claims with court-appointed insolvency manager Ralf Sinz. 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 Cologne Meeting Hall 1240 12th Floor Luxemburger Strasse 101 50939 Cologne Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Ralf Sinz Zeughausstrasse 28-38 50667 Cologne Germany Tel: 921 22 23 Fax: +492219212221 The District Court of Cologne opened bankruptcy proceedings against WIPPENBEKK Betriebsgesellschaft mbH on May 7, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: WIPPENBEKK Betriebsgesellschaft mbH Attn: Oliver Gries, Manager Karlstr. 7-9 50996 Cologne Germany ZAREEN PERSONAL: Claims Registration Period Ends June 20 -------------------------------------------------------- Creditors of Zareen Personal Services GmbH have until June 20, 2008, to register their claims with court-appointed insolvency manager Ulrike Schlarmann. Creditors and other interested parties are encouraged to attend the meeting at 8:00 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 of Nordhorn Hall 42 Seilerbahn 15 48529 Nordhorn 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: Ulrike Schlarmann Schorlemerstrasse 15 48493 Wettringen Germany Tel: 02557/927330 Fax: 02557/927336 The District Court of Nordhorn opened bankruptcy proceedings against Zareen Personal Services GmbH on April 22, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Zareen Personal Services GmbH Dorfstrasse 39 49824 Emlichheim Germany ============= I R E L A N D ============= KEVERVILLE LTD: Debts Prompt ACC Bank to Call In Receiver --------------------------------------------------------- ACC Bank has appointed Tom Kavanagh of Kavanagh Fennell as receiver to Dublin-based building and development company Keverville Ltd., Ian Kehoe writes for the Sunday Business Post. The Post relates ACC, which is in the process of seizing Keverville's assets in the Howth area of Dublin, expressed concerns about the ability of the company to repay its debts. Keverville, the Post discloses, owes more than EUR20 million to six financial institutions, including Bank of Ireland and Bank of Scotland (Ireland). The Post says, citing an unnamed source, the company, had difficulty selling properties due to a downturn in the construction industry. The company's recent accounts showed tangible assets of EUR2.1 million and stocks of land valued at EUR17 million at the end of 2006, the paper discloses. ========= I T A L Y ========= ALITALIA SPA: Italian Government Restarts Stake Sale ---------------------------------------------------- The Italian government headed by Prime Minister Silvio Berlusconi has commenced its latest attempt to sell its 49.9% stake in Alitalia S.p.A., Agenzia Giornalistica Italia reports. The Gazzetta Ufficiale has published Alitalia's privatization procedures, which would be the basis for selecting the buyer for the government's stake in the carrier, AGI relates. Qualified bidders will allowed access to Alitalia's data and information necessary to submit an offer, AGI says citing part the published procedures. The Commissione Nazionale per le Societa e la Borsa, regulatory body for the Italian Stock Exchange, has suspended the trading of Alitalia's shareholder until further notice after the government relaunched the carrier's sale. 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, EUR625.6 million in 2006, and EUR494.64 million in 2007. ALITALIA SPA: European Commission May Launch Probe vs Loan ---------------------------------------------------------- The European Commission may open a probe into the EUR300 million funding provided by the Italian government to Alitalia S.p.A., Reuters reports, citing a source close to the regulator. According to the source, Reuters relates, the Commission is not likely to take an immediate decision whether the emergency loan to Alitalia is illegal and must be returned, contrary to a report by La Repubblica. The source added to Reuters that the Commission will likely open a probe due the complexity of the transaction. The probe, however, may last up to 18 months. The Italian government has said the funding would allow Alitalia to survive for 12 months. According to La Repubblica, the Commission has taken a negative stance towards the loan and will announce it decision on June 11, 2008. EC spokesman Mark English told Thomson Financial that the EU executive is reviewing the loan as well as the details provided by the Italian government. 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, EUR625.6 million in 2006, and EUR494.64 million in 2007. ALITALIA SPA: British Airways Asks EU to Reject Emergency Loan -------------------------------------------------------------- British Airways plc CEO Willie Walsh is calling on the European Commission to reject the Italian government's EUR300 million (US$468 million) emergency loan to Alitalia SpA, Andrea Rothman and Marco Bertacche write for Bloomberg News. In an interview at an industry meeting in Istanbul, Mr. Walsh said that the loan, which was granted to Alitalia to give new Prime Minister Silvio Berlusconi more time to find a buyer, is a "case of state aid," Bloomberg relates. Mr. Walsh stressed "it's an issue of credibility for Europe, certainly for the commission," Bloomberg discloses. However, Italy's Finance Minister Giulio Tremonti argued the loan shouldn't be considered state aid as it is aimed at the sale of the airline, the paper adds. About British Airways Headquartered in West Drayton, United Kingdom, British Airways Plc -- http://www.ba.com/-- operates of international and domestic scheduled and charter air services for the carriage of passengers, freight and mail, and provides of ancillary services. The British Airways group consists of British Airways plc and a number of subsidiary companies including in particular British Airways Holidays Ltd. and British Airways Travel Shops Ltd. BA has offices in India and Guatemala. 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, EUR625.6 million in 2006, and EUR494.64 million in 2007. =================== K A Z A K H S T A N =================== KAZAKHSTAN TELEKOM: Creditors Must File Claims by July 11 --------------------------------------------------------- LLP KTS Kazakhstan Telekom Solutions has declared insolvency. Creditors have until July 11, 2008, to submit written proofs of claims to: LLP KTS Kazakhstan Telekom Solutions Seifullin Str. 67 Astana Kazakhstan N-OIL LLP: Claims Deadline Slated for July 16 --------------------------------------------- The Specialized Inter-Regional Economic Court of South Kazakhstan has declared LLP N-Oil insolvent on April 25, 2008. Creditors have until July 16, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of South Kazakhstan Ilyaev Str. 24 Shymkent South Kazakhstan Kazakhstan Tel: 8 (7252) 53-48-34 OIL SNAB: Claims Filing Period Ends July 16 ------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty has declared LLP Oil Snab Company insolvent. Creditors have until July 16, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Almaty Post Office 57 050057, Almaty Kazakhstan Tel: 8 777 679 16-41 TRANS-MOST LLP: Creditors' Claims Due on July 15 ------------------------------------------------ The Specialized Inter-Regional Economic Court of Almaty has declared LLP Trans-Most insolvent on Oct. 1, 2007. Creditors have until July 15, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Almaty Post Office Box 72 Main Post Office Almaty Kazakhstan Tel: 8 777 241 79-98 TRANS OIL: Claims Registration Ends July 15 ------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty has declared LLP Trans Oil insolvent on April 11, 2008. Creditors have until July 15, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Almaty Post Office Box 72 Main Post Office Almaty Kazakhstan Tel: 8 777 241 79-98 VEGA OJSC: Claims Filing Period Ends July 16 -------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty has declared OJSC Avia Company Vega insolvent. Creditors have until July 16, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Almaty Post Office 57 050057, Almaty Kazakhstan Tel: 8 777 679 16-41 =================== K Y R G Y Z S T A N =================== BIPROM COMPANY: Creditors Must File Claims by July 2 ---------------------------------------------------- LLC Biprom Company has declared insolvency. Creditors have until July 2, 2008 to submit written proofs of claim. Inquiries can be addressed to (0-555) 75-85-23. =========== R U S S I A =========== AQUA CJSC: Creditors Must File Claims by July 17 ------------------------------------------------ Creditors of CJSC Aqua have until July 17, 2008, to submit proofs of claim to: V. Skornyakov Insolvency Manager PostUser Box 19 Sterlitamak-15 453115 Bashkortostan Russia The Arbitration Court of Ulyanovsk commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A72-6654/07-29/43B. The Court is located at: The Arbitration Court of Ulyanovsk Zheleznodorozhnaya Str. 14 432063 Ulyanovsk Russia The Debtor can be reached at: CJSC Aqua Ulyanovsk Russia CONTRACT CJSC: Creditors Must File Claims by June 17 ---------------------------------------------------- Creditors of CJSC Contract have until June 17, 2008, to submit proofs of claim to: A. Nesterov Temporary Insolvency Manager Post User Box 20647 660017 Krasnoyarsk Russia The Arbitration Court of Krasnoyarsk will convene at 10:00 a.m. on Sept. 25, 2008, to hear the company's bankruptcy supervision procedure. The case is docketed under Case No. A33-3541/2008. The Court is located at: The Arbitration Court of Krasnoyarsk Lenina Str. 143 660021 Krasnoyarsk Russia The Debtor can be reached at: CJSC COntract Yuzhnyj Promyshlenny Uzel 12/38 Lesosibirsk 662546 Krasnoyarsk Russia ENGELSSKIY FISH: Creditors Must File Claims by July 17 ------------------------------------------------------ Creditors of OJSC Engelsskiy Fish Factory have until July 17, 2008, to submit proofs of claim to: Y. Adushkin Insolvency Manager Post Use Box 23 Central Post Office 410000 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-57-343/08-31. The Court is located at: The Arbitration Court of Saratov Babushkin Vvoz 1 Saratov Russia The Debtor can be reached at: OJSC Engelsskiy Fish Factory Vodnaya Str. 2 Engels 413107 Saratov Russia EURO-SIB-STROY: Creditors Must File Claims by June 17 ----------------------------------------------------- Creditors of LLC Euro-Sib-Stroy have until June 17, 2008, to submit proofs of claim to: D. Upirov Insolvency Manager Office 406 Oktyabrskiy Pr. 4 660077 Kemerovo Russia The Arbitration Court of Irkutsk commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A19-591/08-38. The Court is located at: The Arbitration Court of Irkutsk Room 303 Gagarina Avenue 70 664025 Irkutsk Russia The Debtor can be reached at: LLC Euro-Sib-Stroy Gryaznova Str. 13 664003 Irkutsk Russia GPMK-4 OJSC: Creditors Must File Claims by July 17 -------------------------------------------------- Creditors of OJSC GPMK-4 have until July 17, 2008, to submit proofs of claim to: A. Ismailov Insolvency Manager Apt. 59 Mayakovskogo 77 Groznyj 364061 Ingushetiya Russia The Arbitration Court of Ingushetiya commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A18-1238/06. The Debtor can be reached at: A. Ismailov Insolvency Manager Apt. 59 Mayakovskogo 77 Groznyj 364061 Ingushetiya Russia KASSIYA CJSC: Creditors Must File Claims by June 17 --------------------------------------------------- Creditors of RA CJSC Kassiya have until June 17, 2008, to submit proofs of claim to: B. Dumanov Temporary Insolvency Manager Apt. 61 Tarchokova Str. 54g Nalchik 360000 Kabardino-Balkariya Russia The Arbitration Court of Kabardino-Balkariya commenced bankruptcy supervision procedure on RA CJSC Kassiya. The case is docketed under Case No. A20-552/2008. The Debtor can be reached at: RA CJSC Kassiya NZPP Dubki Nalchik 360000 Kabardino-Balkariya Russia KENGA CJSC: Creditors Must File Claims by July 17 ------------------------------------------------- Creditors of CJSC Kenga have until July 17, 2008, to submit proofs of claim to: A. Shatokhin Insolvency Manager Apt. 1 Alisova Str. 4 Peschanokopskoe 347570 Rostov Russia The Arbitration Court of Rostov commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A53-8606/2007-S1-52. The Court is located at: The Arbitration Court of Rostov Stanislavskogo Str. 8a 344008 Rostov-na-Donu Russia The Debtor can be reached at: CJSC Kenga Stachki Pr. 245 Rostov-na-Donu Russia KHARGANA LLC: Court Names A. Mironov as Insolvency Manager ---------------------------------------------------------- The Arbitration Court of Buryatiya appointed A. Mironov as Insolvency Manager for LLC Khargana. He can be reached at: A. Mironov Botanicheskaya Str. 35a 670045 Buryatiya Russia Tel/Fax: (3012) 44-36-20 The Court commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A10-1612/07-10. The Debtor can be reached at: LLC Khargana Lenina Str. 11 Khargana Selenginskiy 671174 Buryatiya Russia KORTUZSKOE CJSC: Creditors Must File Claims by July 17 ------------------------------------------------------ Creditors of CJSC Kortuzskoe have until July 17, 2008, to submit proofs of claim to: A. Nesterov Insolvency Manager Post User Box 20647 660017 Krasnoyarsk Russia The Arbitration Court of Krasnoyarsk commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A33-12919/2007. The Court is located at: The Arbitration Court of Krasnoyarsk Lenina Str. 143 660021 Krasnoyarsk Russia The Debtor can be reached at: CJSC Kortuzskoe Solnechnyj Per. 7 Kortuz Krasnoturanskiy 662662 Krasnoyarsk Russia MP MO ZATO: Asset Sale Slated for June 20 ----------------------------------------- F. Voitsik, the insolvency manager and bidding organizer for MP MO Zato Wood Processing Combine, will open a public auction for the company's properties at 1:00 p.m. on June 20, 2008, at: MP MO Zato Wood Processing Combine Room 4 4th floor Sverlova Str. 1 Snezhinsk Chelyabinsk Russia The case is docketed under Case No. A76-30992/2006-52-312. Interested participants have until June 12, 2008, to deposit an amount equivalent to 10% of the starting price to: MP MO Zato Wood Processing Combine Settlement Account 40602810900000001992 Correspondent Account 30101810100000000993 TIN/KPP 6654001613/66701001 BIK 046577993 LLC CB Uralfinans Bidding documents must be submitted to: F.Voitsik Office 670 Chebysheva Str. 6 Ekaterinburg Russia Tel: (343)375-74-09 The Debtor can be reached at: MP MO Zato Wood Processing Combine Russia Chelyabinsk Snezhinsk Sverlova Str. 1 NOVOLIPETSK STEEL: Earns US$617.7 Million for First Quarter 2008 ---------------------------------------------------------------- Novolipetsk Steel released its consolidated US GAAP results for first quarter 2008. Highlights of the quarter include: Strong financial performance in first quarter 2008: -- Revenue amounted US$2,353.3 million (+34% year-on-year); -- Operating cash flow reached US$250.1 million; -- EBITDA was US$875.7 million (+17% year-on-year); EBITDA margin was 37%; and -- Cash and cash equivalents as of March 31, 2008 amounted US$1,181.4 million. "Sustainable Growth Strategy" continued on track in first quarter 2008: -- In January 2008, NLMK reached an agreement to acquire 100% of the trading companies Novexco Limited, Cyprus and Novex Trading S.A., Switzerland. The EUR77.1 million transaction was completed in May 2008; -- In February 2008, NLMK reached an agreement to amend the terms of its contract with Duferco Group. NLMK is granted a perpetual option to acquire one share in SIF (the joint venture with Duferco Group). Furthermore, from December 18, 2010, NLMK is granted a perpetual option to buy all of Duferco Group�s interest in the Joint Venture at a price based on the change in the consolidated shareholders equity of SIF between October 2006 and the exercise date. Total capex for first quarter 2008 was US$355.2 million. Major projects included: -- Refurbishment and commissioning of the Concasting Machine (CCM-6), which has a 2.5 million tpy capacity. The upgrade improved CCM-6�s technical capabilities and enabled an increase in production capacity of 1.2 million tpy; -- VIZ-Stal launched the production of 0.23 mm thick transformer steel sheets used in high power transformers. The first deliveries have already reached our customers; -- The Strategic Planning Committee has approved the key parameters of the Group�s Technical Upgrading Programme, covering the period up to 2015. NLMK plans to increase crude steel production volumes at NLMK�s Russian sites to 22 million tonnes by 2015, while flats and longs production volumes will increase by up to 6.9 and 5.9 million tonnes respectively. NLMK is developing a high value added product portfolio focused on the domestic market. The Company expects consumption to grow in the construction, mechanical engineering, automotive and infrastructure sectors. In first quarter 2008 NLMK implemented a number of asset optimization and management system improvement projects. Major projects included: -- NLMK continues the integration of acquired assets of the long products segment. Currently, NLMK representatives hold the key management positions at all of Maxi-Group�s production sites; -- In March 2008, NLMK posted a mandatory offer to Stoilensky GOK�s minority shareholders to purchase outstanding ordinary shares. In May 2008 the Company completed the acquisition of 3.02% of Stoilensky GOK�s share capital, thus obtaining 100% control over the enterprise. Minority shares were acquired at a price set in accordance with independent appraisers� reports. Currently, offers to buy shares have been sent to minority shareholders in Stagdok, Dolomite and Altai-koks -- In March 2008, NLMK created the position of Vice President of Information Technology. The new Vice President will lead the work to set up a common information space within the Group and to implement a corporate ERP system. The Board of Directors recommended a RUR3 dividend per ordinary share (1 GDS = 10 ordinary shares) in relation to the 2007 results. Taking into account the interim dividend per share of RUR1.5, approved by the General Shareholders� Meeting in September 2007, the Board of Directors recommended an additional payment of RUR1.5 per NLMK share at the time of the full year results. The resolution for the dividend payment has been submitted for the General Shareholders� Meeting approval on June 6, 2008. Outlook Prices for steel products continued to grow in first quarter and Q2 2008 following an increase in raw material costs and consistently high demand in the world market. We currently anticipate a mid-year flattening of steel prices. In 2008, steel production volume at our main production site in Lipetsk is expected to reach 9.4 million tonnes (+4% year-on- year). Total steel production volume of NLMK�s Russian steelmaking assets is expected to reach 11.6 million tonnes (+26% year-on-year). As a result of the increase in production volumes, price growth and the consolidation of Maxi-Group we expect revenues to grow by up to 60% year-on-year. According to our preliminary estimates, EBITDA could exceed the 2007 level by 35-40%. About Novolipetsk Headquartered in Lipetsk, Russia, Novolipetsk Steel OJSC -- http://www.nlmksteel.com/-- manufactures pig iron, slabs, hot- rolled steel, and a variety of value-added steel products, such as cold-rolled sheet, electrical steel and other specialty flat products. The group also operates in Denmark and Japan. The group entered the Danish steel market in the first quarter of 2006 by acquiring a 100% stake at DanSteel A/S. * * * Novolipetsk Steel OJSC carries Ba1 Corporate Family and Probability-of-Default ratings from Moody's Investors Service, which said the Outlook is stable. NLMK carries BB+ Issuer Credit rating from Standard & Poor's Ratings Services with a Stable Outlook. The company also carries BB+ Long-term Issuer Default, B and Short-term Issuer Default ratings from Fitch Ratings, which said the Outlook is Stable. SEV-KAV-ELECTRON-PRIBOR: Creditors Must File Claims by June 17 -------------------------------------------------------------- Creditors of OJSC Sev-Kav-Electron-Pribor have until June 17, 2008, to submit proofs of claim to: B. Dumanov Temporary Insolvency Manager Apt.61 Tarchokova Str. 54g Nalchik 360000 Kabardino-Balkariya Russia The Arbitration Court of Kabardino-Balkariya commenced bankruptcy supervision procedure on the company. The case is docketed under Case No. A20-565/2008. The Debtor can be reached at: OJSC Sev-Kav-Electron-Pribor Tsiolkovskogo Str. 7 Nalchik 360000 Kabardino-Balkariya Russia OMZ OAO: S&P Rates Proposed RUR1.6 Billion Sr. Bond at ruBB ----------------------------------------------------------- Standard & Poor's Ratings Services assigned its 'ruBB' Russia national scale rating to the proposed Russian RUR1.6 billion (US$67 million) senior unsecured bond issued by Russian capital goods company OAO OMZ (Uralmash-Izhora Group) (OMZ; CCC+/Developing/--). The proposed bond will have a maturity of five years with a put option on holders' demand. The coupon will depend on market conditions during the placement. The rating is subject to final documentation. "The rating on the bond mirrors the 'ruBB' Russia national scale rating on the company," said Standard & Poor's credit analyst Varvara Nikanorava. "We expect the proceeds from the bond issue to be used to refinance OMZ's existing debt and to implement the company's investment program." The ratings on OMZ currently remain constrained by the company's highly leveraged financial profile. It has a large proportion of short-term debt, an aged asset base, and operates in the challenging competitive environment of the Russian and international capital goods markets. These factors are partially offset by OMZ's strong positions in the domestic market, its fairly diverse end products and market segments, and some cost advantages over international competitors. SODRUZHESTVO LLC: Court Names G. Kovalenko as Insolvency Manager ---------------------------------------------------------------- The Arbitration Court of Stavropol appointed G. Kovalenko as Insolvency Manager for LLC Sodruzhestvo (TIN 2602005850). He can be reached at: G. Kovalenko Bakinskaya Str. 94a Ipatovo 356630 Stavropol Russia Tel/Fax: (86542) 2-33-33 The Court commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A63-2085/08-?5-28. The Court is located at: The Arbitration Court of Stavropol Mira Str. 4586 Stavropol Russia The Debtor can be reached at: LLC Sodruzhestvo Manychskoe Anapasenkovskiy Stavropol Russia SOROKINA AND PARTNERS: Creditors Must File Claims by June 17 ------------------------------------------------------------ Creditors of LLC Tyumenskaya Trade-Industrial Company Sorokina and Partners have until June 17, 2008, to submit proofs of claim to: A. Zaytsev Temporary Insolvency Manager Office 455 Melnikayte Str. 106 Tyumen Russia The Arbitration Court of Tyumen will convene at 9:15 a.m. on Sept. 11, 2008, to hear the company's bankruptcy supervision procedure. The case is docketed under Case No. A70-1931/3-08. The Court is located at: The Arbitration Court of Tyumen Khokhryakova Str. 77 627000 Tyumen Russia The Debtor can be reached at: LLC Tyumenskaya Trade-Industrial Company Sorokina and Partners Shirotnaya Str. 113/1 Tyumen Russia STAR-LINE LLC: Tyumen Bankruptcy Hearing Slated for Sept. 11 ------------------------------------------------------------ The Arbitration Court of Tyumen will convene on Sept. 11, 2008, to hear the bankruptcy supervision procedure on LLC Star-Line. The case is docketed under Case No. A70-1510/3-08. The Temporary Insolvency Manager is: I. Agapov 305a Stankostroiteley Str. 1 Tyumen Russia The Court is located at: The Arbitration Court of Tyumen Khokhryakova Str. 77 627000 Tyumen Russia The Debtor can be reached at: LLC Star-Line Respubliki Str. 106 Tyumen Russia TRANSTELECOM JSC: Fitch Places IDR at B+ on Segment Challenges -------------------------------------------------------------- Fitch Ratings has today Russia-based JSC Transtelecom Company a Long-term Issuer Default rating of 'B+', National Long-term rating of 'A(rus)' and Short-term IDR of 'B'. The Outlooks for the Long-term IDR and National Long-term rating are Stable. "The ratings reflect challenges of expanding into retail segments of long-distance voice telephony and broadband internet. They also take into account TTK's well-established competitive positions in the wholesale interoperator segment and its low-cost access to a country-wide high-capacity backbone network," says Nikolay Lukashevich, Senior Director in Fitch's TMT team. Established as a 100% subsidiary of Russian Railways (rated 'BBB+'/Stable), TTK has been charged with the development, and then operation, of an extensive backbone network laid along most parts of the railway network in Russia. Although this network continues to be a property of RZD, TTK is expected to retain its access to this telecom infrastructure at a relatively low cost. TTK has built a strong market presence in a number of key interoperator segments, including domestic and international line leasing, backbone internet interconnection and corporate IP VPN services. However, pricing pressures in these segments have been intense and are expected to continue, while competition is likely to increase as new entrants start to offer their services. These factors will result in significant margin dilution from TTK's wholesale services. TTK's strategy foresees active expansion into new retail segments of long-distance voice telephony and broadband internet, which is likely to bring in strong growth opportunities but also entail significant execution and financial risks. Superior growth expectations are driven by significant pent-up demand and prospects of a wider proliferation of these services. TTK's expansion strategy assumes that the company will need to incur significant roll-out costs and undertake substantial additional investments in new infrastructure, which will be primarily financed with new debt. Entry into long-distance voice telephony became feasible following regulatory changes at the start of 2006, and, generally, Fitch sees the regulatory environment as reasonably benign for the company's development plans. RZD is committed to retain its control over TTK in the long-run. The railway monopoly depends on TTK for the provision of crucial telecom and maintenance services. However, RZD is as a regulated entity, and therefore its ability to provide support to its subsidiaries may be restricted. TTK's ratings primarily reflect its stand-alone profile. A transfer of the backbone network that is currently leased from RZD to TTK as an equity contribution might lead to an upgrade. TTK's net leverage was low at 0.5x net debt/EBITDA at end of 2007, mitigating liquidity risks as debt service and repayments can be funded from operating cash flows. Refinancing risks are likely to significantly increase, in view of the company's expansive strategy and considerable short-term debt maturities; these are reflected in the current ratings. UNIASTRUM: Weak Performance Cues Moody's B2 Ratings on Watch Neg ---------------------------------------------------------------- Moody's Investors Service changed the outlook on the B2 long- term local and foreign currency deposit ratings of Bank Uniastrum to negative from stable. Uniastrum's E+ bank financial strength rating was affirmed with stable outlook. Moody's also affirmed the bank's Not Prime short-term local and foreign currency deposit ratings. Concurrently, Moody's Interfax Rating Agency affirmed Uniastrum's long-term national scale rating of Baa1.ru. The NSR carries no specific outlook. Moscow-based Moody's Interfax is majority-owned by Moody's, a leading global rating agency. According to Moody's and Moody's Interfax, the B2/Not Prime/E+ global scale ratings reflect Uniastrum's global default and loss expectation, while the Baa1.ru national scale rating reflects the standing of the bank's credit quality relative to its domestic peers. "The change in outlook on Uniastrum's deposit ratings reflects its weak financial performance over the past two years. This in turn results, on the one hand, from the declining share of recurring income in the bank's total earnings given its increased reliance on volatile and one-off income sources and, on the other hand, from the surge in operating expenses mainly related to Uniastrum's regional expansion," says Olga Ulyanova, a Moody's Assistant Vice-President/Analyst and lead analyst for Uniastrum. The losses reported by the bank under IFRS in both 2007 and 2006 (restated accounts) led to a significant decrease in Uniastrum's capitalization, and Moody's believes the timing and volume of further capital injections from the bank's shareholders are uncertain. "Going forward, the bank may find it challenging to recover and maintain a sustainable level of profitability and adequate cost efficiency, taking into account the still tight liquidity markets and the resulting high cost of funding, as well as competition from banks with greater financial and operational flexibility. Moody's is concerned that the need to improve its financial metrics may prompt Uniastrum to enter higher-risk client segments and/or to continue to rely on volatile income sources, which, among other implications, might weigh on the bank's asset quality," Ms. Ulyanova added. According to Moody's, a downgrade of Uniastrum's deposit ratings is possible if the bank fails to: (i) improve, in the near future, its recurring earning capacity and/or reduce operating costs; (ii) maintain adequate economic capitalization levels; and simultaneously (iii) ensure good asset quality. A downgrade might also be prompted by a deterioration in Uniastrum's liquidity profile. Moody's may consider changing the outlook on Uniastrum's long- term deposit ratings back to stable in the event of consistent and sustainable growth in the bank's recurring income, diversification of the earning streams and optimisation of the business costs, provided this is combined with consistently good asset quality and supported by timely capital injections from the bank's shareholders. Domiciled in Moscow, Russia, Bank Uniastrum reported -- as at Dec. 31, 2007 -- total IFRS assets of US$2 billion (2006: US$1.3 billion), total capital of US$188.7 million (2006: US$189.4 million) and a net loss of US$3.6 million (2006: US$7.3 million). The bank operates an extended distribution network of 42 branches and more than 180 sales offices. YUZHSKAYA POULTRY: Ivanovo Bankruptcy Hearing Slated for Oct. 15 ---------------------------------------------------------------- The Arbitration Court of Ivanovo will convene at 1:00 p.m. on Oct. 15, 2008, to hear the bankruptcy supervision procedure on OJSC Yuzhskaya Poultry Farm (TIN 3726003889). The case is docketed under Case No. A17-1019/2008 10-B. The Temporary Insolvency Manager is: D. Tatarnikov Temporary Insolvency Manager Office 414 Suvorova Str. 39 153029 Ivanovo Russia The Court is located at: The Arbitration Court of Ivanovo B. Khmelnitskogo Str. 59B Ivanovo Russia The Debtor can be reached at: OJSC Yuzhskaya Poultry Farm Nefedovo Yuzhskiy 155630 Ivanovo Russia ========= S P A I N ========= EDITIS HOLDING: Moody's Puts Ba3 Rating Under Review ---------------------------------------------------- Moody's Investors Service put the ratings of Editis Holding S.A. (CFR at Ba3) under review with direction uncertain. The rating action follows the recent announcement that the French investment firm Wendel Investissement, Editis' parent company, has agreed to the sale of the publisher to Grupo Planeta SA, a Spanish communication group, for an estimated EUR1.026 billion. The uncertain direction of the rating is due to limited information on the impact of the transaction on Editis' financial profile as well as limited information at this stage on the new owner, Planeta, and its intended policies with regard to Editis. Headquartered in Paris, Editis Holding SA provides educational, reference, children's, paperback and general literature books, and also owns 19 publishing houses, 43 publishing brands and has agreements with approximately 16,000 authors to sell and distribute books that they have written or intend to write. The company also owns Interforum, the second largest book sales and distribution platform in France. The majority of Editis' sales are in France with exports accounting for approximately 15%, half of which to French speaking countries. Planeta is the largest Spanish media group and the world-leader in Spanish-language publishing with sales of EUR2.5 billion. ============= U K R A I N E ============= AGRICULTURAL INDUSTRIAL: Creditors Must File Claims by June 20 -------------------------------------------------------------- Creditors of LLC Agricultural Industrial Technology (code EDRPOU 31710619) have until June 20, 2008, to submit proofs of claim to: The Economic Court of Poltava Zigin Str. 1 36000 Poltava Ukraine The Economic Court of Poltava has commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed as 8/194. The Debtor can be reached at: LLC Agricultural Industrial Technology Goloborodkovskoye Karlovka District Poltava Ukraine AMULET 21: Creditors Must File Claims by June 20 ------------------------------------------------ Creditors of LLC Amulet 21 (code EDRPOU 19091656) have until June 20, 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 May 13, 2008. The case is docketed as B 24/198-08. The Debtor can be reached at: LLC Amulet 21 Newspaper Pravda Avenue 32B 49081 Dnipropetrovsk Ukraine ATLANT PLUS: Proofs of Claim Deadline Set June 20 ------------------------------------------------- Creditors of LLC Atlant Plus Ltd (code EDRPOU 20608494) have until June 20, 2008, to submit proofs of claim to: The Economic Court of Kiev Komintern Str. 16 01032 Kiev Ukraine The Economic Court of Kiev commenced the bankruptcy supervision procedure on the company on March 31, 2008. The case is docketed as B11/103-08. The Debtor can be reached at: LLC Atlant Plus Ltd. 50 years of Victory Str. 80 Bielaya Tserkov Kiev Ukraine BOGRUS LLC: Creditors Must File Claims by June 20 ------------------------------------------------- Creditors of LLC Bogrus (code EDRPOU 33968989) have until June 20, 2008, to submit proofs of claim to: The Economic Court of Nikolaev Admiralskaya Str. 22 54009 Nikolaev Ukraine The Economic Court of Nikolaev commenced bankruptcy proceedings against the company after finding it insolvent on May 13, 2008. The case is docketed as 5/213/08. The Debtor can be reached at: LLC Bogrus Geroev Stalingrada Str. 91 54025 Nikolaev Ukraine DOVIRA LLC: Creditors Must File Claims by June 19 ------------------------------------------------- Creditors of LLC Dovira (code EDRPOU 31803781) have until June 19, 2008, to submit proofs of claim to: The Economic Court of Cherkassy Shevchenko Avenue 307 18005 Cherkassy Ukraine The Economic Court of Cherkassy commenced bankruptcy proceedings against the company after finding it insolvent on April 9, 2008. The case is docketed as 01/1615. The Debtor can be reached at: LLC Dovira Lenin Str. 51 Romanovka Talnoye District 20413 Cherkassy Ukraine ENGINEER SYSTEMS: Creditors Must File Claims by June 19 ------------------------------------------------------- Creditors of LLC Specialized Enterprise Engineer Systems of Signaling, Access, Surveillance (code EDRPOU 23386858) have until June 19, 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 43/355. The Debtor can be reached at: LLC Specialized Enterprise Engineer Systems of Signaling, Access, Surveillance Vanda Vasilevska Str. 18 04116 Kiev Ukraine KRIVBASRUDBUILDING CJSC: Proofs of Claim Deadline Set June 19 ------------------------------------------------------------- Creditors of CJSC Krivbasrudbuilding (code EDRPOU 01239051) have until June 19, 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 supervision procedure on the company on March 13, 2008. The case is docketed as B 15/88-08. The Debtor can be reached at: CJSC Krivbasrudbuilding Svetlogorskaya Str. 74 Krivoy Rog 50011 Dnipropetrovsk Ukraine LAN LLC: Creditors Must File Claims by June 19 ---------------------------------------------- Creditors of Agricultural LLC Lan (code EDRPOU 03794164) have until June 19, 2008, to submit proofs of claim to: The Economic Court of Cherkassy Shevchenko Avenue 307 18005 Cherkassy Ukraine The Economic Court of Cherkassy commenced bankruptcy proceedings against the company on March 13, 2008, after finding it insolvent. The case is docketed as 01/1111. The Debtor can be reached at: Agricultural LLC Lan Dubkovetsky Str. 36 Zdobutok Zhovtnia Talnoye District 20409 Cherkassy Ukraine ORBITA OJSC: Proofs of Claim Deadline Set June 19 ------------------------------------------------- Creditors of OJSC Orbita (code EDRPOU 14149616) have until June 19, 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 Jan. 5, 2008. The case is docketed as 4/5-B. The Debtor can be reached at: OJSC Orbita Mir Str. 219, Derazhnia 32200 Hmelnitskij Ukraine PRESTIGE-COM: Creditors Must File Claims by June 19 --------------------------------------------------- Creditors of LLC Prestige-Com (code EDRPOU 35316512) have until June 19, 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 18, 2008, after finding it insolvent. The case is docketed as 43/348. The Debtor can be reached at: LLC Prestige-Com Sosneny Family Str. 3 03148 Kiev Ukraine RUBEZHNOYE MOTORCAR 10917: Creditors' Claims Due June 20 -------------------------------------------------------- Creditors of OJSC Rubezhnoye Motorcar Transport Enterprise 10917 (code EDRPOU 03113265) have until June 20, 2008, to submit proofs of claim to: The Economic Court of Lugansk Geroiv VVV Square 3a 91000 Lugansk Ukraine The Economic Court of Lugansk commenced bankruptcy proceedings against the company on March 31, 2008, after finding it insolvent. The case is docketed as 12/534b. The Debtor can be reached at: OJSC Rubezhnoye Motorcar Transport Enterprise 10917 Pomeranchuk Str. 15a Rubezhnoye Lugansk Ukraine SLAVA LLC: Creditors Must File Claims by June 20 ------------------------------------------------ Creditors of Agricultural LLC Slava (code EDRPOU 03793113) have until June 20, 2008, to submit proofs of claim to: The Economic Court of Cherkassy Shevchenko Avenue 307 18005 Cherkassy Ukraine The Economic Court of Cherkassy commenced bankruptcy proceedings against the company after finding it insolvent on March 6, 2008. The case is docketed as 14/944. The Debtor can be reached at: Agricultural LLC Slava Kovray-1 Zolotonosha District 19722 Cherkassy Ukraine SOUTH ELEVATOR: Creditors Must File Claims by June 19 ----------------------------------------------------- Creditors of OJSC South Elevator Building (code EDRPOU 01354970) have until June 19, 2008, to submit proofs of claim to: The Economic Court of Nikolaev Admiralskaya Str. 22 54009 Nikolaev Ukraine The Economic Court of Nikolaev commenced bankruptcy proceedings against the company on April 24, 2008, after finding it insolvent. The case is docketed as 14/724/08. The Debtor can be reached at: OJSC South Elevator Building Nikolskaya Str. 40 54001 Nikolaev Ukraine TALNEGASBUILDING: Creditors Must File Claims by June 19 ------------------------------------------------------- Creditors of Building-Assembly Management Talnegasbuilding (code EDRPOU 05755973) have until June 19, 2008, to submit proofs of claim to: The Economic Court of Cherkassy Shevchenko Avenue 307 18005 Cherkassy Ukraine The Economic Court of Cherkassy commenced bankruptcy proceedings against the company after finding it insolvent on Jan. 10, 2008. The case is docketed as 14/153. The Debtor can be reached at: Building-Assembly Management Talnegasbuilding Zoya Kosmodemianskaya Str. 51 Talnoye 20400 Cherkassy Ukraine TECHNOEXPODEVICE LLC: Creditors Must File Claims by June 19 ----------------------------------------------------------- Creditors of LLC Technoexpodevice (code EDRPOU 34804180) have until June 19, 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 after finding it insolvent on May 13, 2008. The case is docketed as 23/144-b. The Debtor can be reached at: LLC Technoexpodevice Derevoobrabatyvayuschaya Str. 5 01013 Kiev Ukraine YUSAN-GROUP LLC: Creditors Must File Claims by June 19 ------------------------------------------------------ Creditors of LLC Yusan-Group (code EDRPOU 33210795) have until June 19, 2008, to submit proofs of claim to: The Economic Court of Zaporozhje Shaumiana Str. 4 69001 Zaporozhje Ukraine The Economic Court of Zaporozhje commenced bankruptcy proceedings against the company after finding it insolvent on April 23, 2008. The case is docketed as 16/86/08. The Debtor can be reached at: LLC Yusan-Group Lenskaya Str. 19 69096 Zaporozhje Ukraine ZARIA LLC: Creditors Must File Claims by June 20 ------------------------------------------------ Creditors of Agricultural LLC Zaria (code EDRPOU 01528714) have until June 20, 2008, to submit proofs of claim to: The Economic Court of Cherkassy Shevchenko Avenue 307 18005 Cherkassy Ukraine The Economic Court of Cherkassy commenced bankruptcy proceedings against the company on April 17, 2008, after finding it insolvent. The case is docketed as 10/1817. The Debtor can be reached at: Agricultural LLC Zaria Shabelniki Zolotonosha District 19753 Cherkassy Ukraine =========================== U N I T E D K I N G D O M =========================== AUTO-TECHNOLOGY LTD: Brings In Liquidators from Mazars ------------------------------------------------------ Alistair Steven Wood and Simon David Chandler of Mazars LLP were appointed joint liquidators of Auto-Technology Ltd. on May 27, 2008, for the creditors' voluntary winding-up proceeding. The joint liquidators can be reached at: Mazars LLP Lancaster House 67 Newhall Street Birmingham B3 1NG England BODY TEMPLE: Calls In Liquidators from Vantis --------------------------------------------- D. Wilson and G. Mummery of Vantis Business Recovery Services were appointed joint liquidators of The Body Temple Spa's Ltd. on May 23, 2008, for the creditors' voluntary winding-up proceeding. The joint liquidators can be reached at: Vantis Business Recovery Services 43-45 Butts Green Road Hornchurch Essex RM11 2JX England BRITISH AIRWAYS: Asks EU to Reject Alitalia Emergency Loan ---------------------------------------------------------- British Airways plc CEO Willie Walsh is calling on the European Commission to reject the Italian government's EUR300 million (US$468 million) emergency loan to Alitalia SpA, Andrea Rothman and Marco Bertacche write for Bloomberg News. In an interview at an industry meeting in Istanbul, Mr. Walsh said that the loan, which was granted to Alitalia to give new Prime Minister Silvio Berlusconi more time to find a buyer, is a "case of state aid," Bloomberg relates. Mr. Walsh stressed "it's an issue of credibility for Europe, certainly for the commission," Bloomberg discloses. However, Italy's Finance Minister Giulio Tremonti argued the loan shouldn't be considered state aid as it is aimed at the sale of the airline, the paper adds. 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, EUR625.6 million in 2006, and EUR494.64 million in 2007. About British Airways Headquartered in West Drayton, United Kingdom, British Airways Plc -- http://www.ba.com/-- operates of international and domestic scheduled and charter air services for the carriage of passengers, freight and mail, and provides of ancillary services. The British Airways group consists of British Airways plc and a number of subsidiary companies including in particular British Airways Holidays Ltd. and British Airways Travel Shops Ltd. BA has offices in India and Guatemala. * * * British Airways Plc carries a senior unsecured debt rating of Ba1 from Moody's Investors' Service with a stable outlook. Ratings apply to date. CORBY BOTTLERS: Administrators Sell Business to Champagne Indage ---------------------------------------------------------------- The joint administrators of Darlington Wines Ltd. and Corby Bottlers Plc announced the sale of its business and assets to Champagne Indage for an undisclosed sum. As reported in the TCR-Europe, Andrew Stephen McGill and Richard James Philpott of KPMG LLP were appointed joint administrators of Darlington Wines Ltd. (Company Number 01278872) and Corby Bottlers Plc (Company Number 02120678) on March 18, 2008. Mr. McGill said, "We are delighted that we have been able to sell these well-established businesses. This has ensured the transfer of 120 jobs to the new company. We were always optimistic that the businesses could be sold as going concerns and wish the new owners all the best for the future." The businesses have been operating in Corby for over 20 years as importers and packagers of wine for supply to retail drinks sector, and have a combined turnover of GBP25 million. Both are longstanding brands within the drinks trade supplying leading supermarkets, breweries and drinks wholesalers. Champagne Indage is part of the Indian Indage Group, created in 1985 to produce and sell wines to the domestic wine market in India, and who last year bought out the wine-making arm of Australian company Tandou. The new firm will be called Indage UK (Ltd) and operations will continue to be run by Managing Director John Steel. CRAIG DACE: Andrew Appleyard Leads Liquidation Procedure -------------------------------------------------------- Andrew Appleyard of Tenon Recovery was appointed liquidator of Craig Dace Interiors Ltd. on May 27, 2008, for the creditors' voluntary winding-up procedure. The liquidator can be reached at: Tenon Recover 6th Floor The White House 111 New Street Birmingham B2 4EU England DARLINGTON WINES: Sells Business to Champagne Indage ---------------------------------------------------- The joint administrators of Darlington Wines Ltd. and Corby Bottlers Plc announced the sale of its business and assets to Champagne Indage for an undisclosed sum. As reported in the TCR-Europe, Andrew Stephen McGill and Richard James Philpott of KPMG LLP were appointed joint administrators of Darlington Wines Ltd. (Company Number 01278872) and Corby Bottlers Plc (Company Number 02120678) on March 18, 2008. Mr. McGill said, "We are delighted that we have been able to sell these well-established businesses. This has ensured the transfer of 120 jobs to the new company. We were always optimistic that the businesses could be sold as going concerns and wish the new owners all the best for the future." The businesses have been operating in Corby for over 20 years as importers and packagers of wine for supply to retail drinks sector, and have a combined turnover of GBP25 million. Both are longstanding brands within the drinks trade supplying leading supermarkets, breweries and drinks wholesalers. Champagne Indage is part of the Indian Indage Group, created in 1985 to produce and sell wines to the domestic wine market in India, and who last year bought out the wine-making arm of Australian company Tandou. The new firm will be called Indage UK (Ltd.) and operations will continue to be run by Managing Director John Steel. FLYING COLOURS: Hires Liquidators from Tenon Recovery ----------------------------------------------------- Matthew Colin Bowker and Thomas Dixon of Tenon Recovery were appointed joint liquidators of Flying Colours Communications Ltd. on May 27, 2008, for the creditors' voluntary winding-up proceeding. The joint liquidators can be reached at: Tenon Recovery Clive House Clive Street Bolton BL1 1ET England FORD MOTOR: To Cut White-Collar Salary Costs by 15% --------------------------------------------------- Ford Motor Co. intends to cut white-collar salary costs by 15% by Aug. 1, 2008, through attrition and the consolidation of open positions after a decline in U.S. automotive sales, the Associated Press reports. However, Ford spokeswoman Marcey Evans said the company had no target number of employees to cut, although each department has a salary cost-reduction goal, the AP relates. Ms. Evans disclosed affected workers would get standard severance packages based on their years of service, the AP reveals. According to Ford CEO Alan Mulally, the company resolved to implement the cost-cutting measures so it can continue to have the money to invest in the new products and services, the paper adds. About Ford Motor Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) -- http://www.ford.com/-- manufactures or distributes automobiles in 200 markets across six continents. With about 260,000 employees and about 100 plants worldwide, the company's core and affiliated automotive brands include Ford, Jaguar, Land Rover, Lincoln, Mercury, Volvo, Aston Martin, and Mazda. The company provides financial services through Ford Motor Credit Company. The company has operations in Japan in the Asia Pacific region. In Europe, the company maintains a presence in Sweden, and the United Kingdom. The company also distributes its brands in various Latin American regions, including Argentina and Brazil. * * * As reported in the Troubled Company Reporter-Europe on May 8, 2008, Fitch said that Ford currently has an Issuer Default Rating of 'B' with a Negative Outlook. Fitch added that the rating is expected to remain on negative outlook until a clearer path toward positive cash flow is established. Given progress on its restructuring program and its product profile, Ford may achieve this during 2008, Fitch related. LAKELAND TIMBER: Credit Crunch Hits Business; Halts Operations -------------------------------------------------------------- Lakeland Timber Framed Homes has ceased trading after being hit by the credit crunch, Karen Dent writes for The Journal. Lakeland, The Journal relates, called in business recovery and insolvency expert Geoffrey Martin & Co. to organize a creditors' meeting, during which a liquidator is expected to be appointed. The Journal adds tough market conditions hampered the company's expansion plans, including buying a new factory and office complex on the Nelson Industrial Estate in Cramlington. Headquartered in North Tyneside, England, Lakeland Timber Framed Homes, makes timber framed housing components. It is a part of Lakeland Group's GBP7 million annual turnover. BOOK REVIEW: Trump: America's Most Powerful Real Estate Baron ------------------------------------------------------------ Full Title: Trump: The Saga of America's Most Powerful Real Estate Baron Author: Jerome Tuccille Publisher: Beard Books Hardcover: 262 pages List Price: US$34.95 Order your personal copy at http://amazon.com/exec/obidos/ASIN/1587982234/internetbankrupt This book is the remarkable unfinished saga of an extraordinary American. When this book was first published in 1985, Donald J. Trump was scarcely into his fourth decade. He had made the leap from local New York City boy who had made good to a national and even world-prominent figure. It all started some 10 years earlier when Trump gambled that New York City would rebound from its financial morass. People laughed and scoffed at the time, but he was right, and he has profited mightily from his faith and vision. This is compelling reading about the inside machinations of his glamorous world. ********* 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. * * * End of Transmission * * *