/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/080611.mbx T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Wednesday, June 11, 2008, Vol. 9, No. 115 Headlines G E R M A N Y BURCON CONSULT: Claims Registration Period Ends June 27 DENTLAS GMBH: Claims Registration Period Ends June 27 DRUCKHAUS KLEIN: Claims Registration Period Ends June 27 ISOMA BAUSTOFFSYSTEME: Claims Registration Period Ends June 27 K & M MALEREIBETRIEB: Claims Registration Period Ends June 27 KRAUTSCHNEIDER TIEFBAU: Claims Registration Period Ends June 27 LUFT FENSTER: Claims Registration Period Ends June 27 MAINKA TECHNIK-SERVICE: Claims Registration Period Ends June 27 MEIN HAUS!: Claims Registration Period Ends June 27 MK-BAUGESELLSCHAFT MBH: Claims Registration Ends June 27 PIN MAIL: Claims Registration Ends June 27 S & P SCHORNSTEIN: Claims Registration Ends June 27 SCHENK PLASTIC: Claims Registration Ends June 27 TI IMPORT: Claims Registration Ends June 27 I T A L Y ALITALIA SPA: Air France-KLM Ends Hopes for Possible Bid FIAT SPA: Inks Two Joint Ventures with Sollers JSC FIAT SPA: Resumes Production at Cassino and Melfi Plants SEAT PAGINE: Appoints Massimo Castelli General Manager for Italy SEAT PAGINE: Names Massimo Cristofori as Chief Financial Officer TISCALI SPA: Massimo Cristofori Quits as Finance Chief K A Z A K H S T A N ASIA SAHAR: Creditors Must File Claims by July 18 ENERGO COMPLECT: Claims Deadline Slated for July 18 EUROASIA TRADING: Claims Filing Period Ends July 22 JASULAN-TRADE LLP: Creditors' Claims Due on July 22 RENESSANS CAPITAL: Claims Registration Ends July 18 STROY INVEST: Creditors Must File Claims by July 18 TECH STROY: Claims Deadline Slated for July 18 TECHNO STROY: Claims Filing Period Ends July 22 TRANS AUTO-2005: Creditors' Claims Due on July 18 K Y R G Y Z S T A N TRANS GAS: Creditors Must File Claims by July 11 R U S S I A APPLE LLC: Bashkortostan Bankruptcy Hearing Slated for July 7 ALLOY LLC: Creditors Must File Claims by July 24 DONSKAYA BUILDING: Court Names M. Demirov as Insolvency Manager FRAM CJSC: Creditors Must File Claims by July 24 INTERNATIONAL BUILDING: Bankruptcy Hearing Slated for Sept. 18 LAZDENEN LLC: Creditors Must File Claims by July 24 MICRO-TALC OJSC: Court Starts Bankruptcy Supervision Procedure PIT KRASNOLESYE: Kaliningrad Bankruptcy Hearing Set August 11 PROM-SVYAZ' OJSC: Creditors Must File Claims by July 24 SEL-KHOZ-TEKHNIKA: Creditors Must File Claims by June 24 SEV-STROY-SNAB: Creditors Must File Claims by June 24 SOCHI-OIL-STROY: Creditors Must File Claims by July 24 TAYSHETSKIY COMBINE: Asset Sale Slated for June 25 VIMPEL-COMMUNICATIONS: Shareholders Approve RUR13.85BB Dividends VIMPEL-COMMUNICATIONS: Shareholders Elect New Board VTOR-CHER-MET: Creditors Must File Claims by July 24 YURYEV-POLSKIY BAKERY: Names S. Skachkov as Insolvency Manager U K R A I N E B. HMELNITSKY LLC: Creditors Must File Claims by June 22 BON: Creditors Must File Claims by June 25 DAKRON LLC: Proofs of Claim Deadline Set June 22 GENERAL CONTRACTOR: Creditors Must File Claims by June 25 IZIUM MEATCOMBINE: Proofs of Claim Deadline Set June 25 LADA-SERVICE: Creditors Must File Claims by June 22 MARKET PODZAMCHEYE: Creditors Must File Claims by June 25 NIKOLAYEV CLOTHING: Creditors Must File Claims by June 22 NPSO FOCON: Creditors Must File Claims by June 22 RADIOSERVICE: Creditors Must File Claims by June 25 SONOPIA LLC: Creditors Must File Claims by June 25 SPECIAL TECHNICAL: Proofs of Claim Deadline Set June 25 U N I T E D K I N G D O M FELIX CORPORATION: Brings In Liquidators from KPMG GLENADEN SHIRTS: Loss of Big Customer Prompts Administration JT FRITH: Debts Prompts Shareholders to Approve Administration LEGER FOODS: Calls In Liquidators from Tenon Recovery LEMONPARK CONSTRUCTION: Goes Into Voluntary Liquidation PHOTO-OPTIX LIMITED: Calls in Joint Administrators SCOTTISH RE: Selling International Life Unit to PacificLife * Moody's Says UK Non-conforming RMBS Delinquencies Rise in Q1 ********* ============= G E R M A N Y ============= BURCON CONSULT: Claims Registration Period Ends June 27 ------------------------------------------------------- Creditors of BURCON Consult GmbH have until June 27, 2008, to register their claims with court-appointed insolvency manager Bernd Klose. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on Aug. 4, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Bad Homburg v.d. Hoehe Room 316 Third Floor Auf der Steinkaut 10-12 61352 Bad Homburg v.d. Hoehe Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Bernd Klose Am Houiller Platz 4 D 61381 Friedrichsdorf/Ts. Germany The District Court of Bad Homburg v.d. Hoehe opened bankruptcy proceedings against BURCON Consult GmbH on May 19, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: BURCON Consult GmbH Attn: Burkhard Schneider, Manager Toepferstrasse 4 61381 Friedrichsdorf/Ts. Germany DENTLAS GMBH: Claims Registration Period Ends June 27 ----------------------------------------------------- Creditors of DENTLAS GmbH Dental-Labor Singer have until June 27, 2008, to register their claims with court-appointed insolvency manager Bernward Widera. Creditors and other interested parties are encouraged to attend the meeting at 11:00 a.m. on Aug. 13, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Chemnitz Hall 28 Fuerstenstrasse 21-23 09130 Chemnitz Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Bernward Widera Buettenstrasse 4 08058 Zwickau Germany Tel: (03 75) 81 89 20 Fax: (03 75) 818 92 14 E-mail: widera@zwickau-net.de The District Court of Chemnitz opened bankruptcy proceedings against DENTLAS GmbH Dental-Labor Singer on May 20, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: DENTLAS GmbH Dental-Labor Singer Attn: Petra Singer, Manager Reichenbacher Strasse 38 08056 Zwickau Germany DRUCKHAUS KLEIN: Claims Registration Period Ends June 27 -------------------------------------------------------- Creditors of Druckhaus Klein GmbH have until June 27, 2008, to register their claims with court-appointed insolvency manager Christian Hanken. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on July 17, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Wilhelmshaven Hall 109 Old Building Market Route 15 26382 Wilhelmshaven Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Christian Hanken Wallstrasse 3 26409 Wittmund Germany Tel: 04462/919112 Fax: 04462/919191 E-mail: christian.Hanken@rechtsanwaelte-hanken.de Website: www.rechtsanwaelte-hanken.de The District Court of Wilhelmshaven opened bankruptcy proceedings against Druckhaus Klein GmbH on May 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Druckhaus Klein GmbH Ebertstrasse 216 26382 Wilhelmshaven Germany Attn: Willem Klein, Manager Eichenweg 16 26452 Sande Germany ISOMA BAUSTOFFSYSTEME: Claims Registration Period Ends June 27 -------------------------------------------------------------- Creditors of ISOMA Baustoffsysteme GmbH have until June 27, 2008, to register their claims with court-appointed insolvency manager Thomas Linse. Creditors and other interested parties are encouraged to attend the meeting at 10:00 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 Fuerth Room 216 Office Building 2 Baumenstrasse 28 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: Thomas Linse Aussere Sulzbacher Str. 29 90491 Nuernberg Germany Tel: 0911/598704 Fax: 0911/5987379 The District Court of Fuerth opened bankruptcy proceedings against ISOMA Baustoffsysteme GmbH on May 13, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: ISOMA Baustoffsysteme GmbH Thierberg 28 91443 Scheinfeld Germany K & M MALEREIBETRIEB: Claims Registration Period Ends June 27 ------------------------------------------------------------- Creditors of K & M Malereibetrieb GmbH have until June 27, 2008, to register their claims with court-appointed insolvency manager Thomas Erdmann. 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 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: Thomas Erdmann Einfrielinger Weg 4 29614 Soltau Germany Tel: 05191-96730 Fax: 05191-967320 E-mail: Rae.Erdmann@t-online.de The District Court of Celle Nebenstelle opened bankruptcy proceedings against K & M Malereibetrieb GmbH on May 6, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: K & M Malereibetrieb GmbH Attn: Waltraud Klask, Manager Celler Strasse 5 29614 Soltau Germany KRAUTSCHNEIDER TIEFBAU: Claims Registration Period Ends June 27 --------------------------------------------------------------- Creditors of Krautschneider Tiefbau GmbH have until June 27, 2008, to register their claims with court-appointed insolvency manager Dr. Ulf Martini. Creditors and other interested parties are encouraged to attend the meeting at 10:15 a.m. on Aug. 20, 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 Ludwigshafen am Rhein Meeting Hall 13 Wittelsbachstr. 10 67061 Ludwigshafen am Rhein 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. Ulf Martini E3, 16 68159 Mannheim Germany The District Court of Ludwigshafen am Rhein opened bankruptcy proceedings against Krautschneider Tiefbau GmbH on May 26, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Krautschneider Tiefbau GmbH Rudolf-Diesel-Strasse 15 67227 Frankenthal Germany LUFT FENSTER: Claims Registration Period Ends June 27 ----------------------------------------------------- Creditors of Luft Fenster-Tueren-Produktion GmbH have until June 27, 2008, to register their claims with court-appointed insolvency manager Rolf Rombach. Creditors and other interested parties are encouraged to attend the meeting at 1:35 p.m. on July 30, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of 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: Rolf Rombach Magdeburger Allee 159 99086 Erfurt Germany Tel: 0361/730650 The District Court of Erfurt opened bankruptcy proceedings against Luft Fenster-T�ren-Produktion GmbH on May 8, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Luft Fenster-Tueren-Produktion GmbH Attn: Holger Luft, Manager Am Duerstborne 4 99510 Apolda Germany MAINKA TECHNIK-SERVICE: Claims Registration Period Ends June 27 --------------------------------------------------------------- Creditors of Mainka Technik-Service GmbH have until June 27, 2008, to register their claims with court-appointed insolvency manager Arne Meyer. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Aug. 5, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Aachen Meeting Hall K 5 Third Floor Alter Posthof 1 52062 Aachen 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: Arne Meyer Viktoriastr. 73-75 52066 Aachen Germany Tel: 0241/94919-29 Fax: 0241/94919-19 The District Court of Aachen opened bankruptcy proceedings against Mainka Technik-Service GmbH on May 9, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Mainka Technik-Service GmbH Hauptstr. 117 52372 Kreuzau Germany MEIN HAUS!: Claims Registration Period Ends June 27 --------------------------------------------------- Creditors of Mein Haus! Generalbau GmbH have until June 27, 2008, to register their claims with court-appointed insolvency manager Karina Schwarz. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on July 18, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Gifhorn Hall 118 Schlossgarten 4 38518 Gifhorn Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Karina Schwarz Ernst-August-Platz 10 30159 Hannover Germany Tel: 0511/4753390 Fax: 0511/4753399 E-mail: k.schwarz@rechtsanwaelte-schwarz.de The District Court of Gifhorn opened bankruptcy proceedings against Mein Haus! Generalbau GmbH on May 20, . Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Mein Haus! Generalbau GmbH Attn: Dietmar Bollhoener, Manager Hafenstrasse 1 38527 Meine Germany MK-BAUGESELLSCHAFT MBH: Claims Registration Ends June 27 -------------------------------------------------------- Creditors of MK-Baugesellschaft mbH have until June 27, 2008 to register their claims with court-appointed insolvency manager Joachim Schneider. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Aug. 13, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Chemnitz Hall 28 Fuerstenstr. 21-23 09130 Chemnitz Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Joachim Schneider Tatzendpromenade 2 07745 Jena Germany Tel: (036 41) 20 22 00 Fax: (036 41) 20 22 12 E-mail: andres_schneider_jena@t-online.de The District Court of Chemnitz opened bankruptcy proceedings against MK-Baugesellschaft mbH on May 16, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: MK-Baugesellschaft mbH Attn: Mario Gemeinhardt, Manager Elsterberger Strasse 18 08491 Netzschkau Germany PIN MAIL: Claims Registration Ends June 27 ------------------------------------------ Creditors of PIN Mail Sachsen GmbH have until June 27, 2008 to register their claims with court-appointed insolvency manager Dr. Andreas Ringstmeier. Creditors and other interested parties are encouraged to attend the meeting at 11:30 a.m. on July 22, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Cologne Meeting Hall 142 First Floor Luxemburger Str. 101 50939 Cologne Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Andreas Ringstmeier Magnusstr. 13 50672 Cologne Germany The District Court of Cologne opened bankruptcy proceedings against PIN Mail Sachsen GmbH on May 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: PIN Mail Sachsen GmbH Attn: Matthias Krueger, Manager Druckereistr. 5 04159 Leipzig Germany S & P SCHORNSTEIN: Claims Registration Ends June 27 --------------------------------------------------- Creditors of S & P Schornstein- u. Fassadenbau GmbH have until June 27, 2008 to register their claims with court-appointed insolvency manager Beate Thompson. Creditors and other interested parties are encouraged to attend the meeting at 9:30 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 Kiel 18 Deliusstr. 22 Kiel 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: Beate Thompson Willestr. 3 24103 Kiel Germany Tel: 0431/888970 The District Court of Kiel opened bankruptcy proceedings against S & P Schornstein- u. Fassadenbau GmbH on May 20, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: S & P Schornstein- u. Fassadenbau GmbH Attn: Horst Dieter Stobbe and Mirko Schoenbron, Managers Ihlberg 4 24109 Melsdorf Germany SCHENK PLASTIC: Claims Registration Ends June 27 ------------------------------------------------ Creditors of Schenk Plastic Solutions GmbH have until June 27, 2008 to register their claims with court-appointed insolvency manager Manfred Dobler. 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 Esslingen Hall 1 First Floor Ritterstr. 5 Esslingen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Manfred Dobler Gansheidestr. 1 70184 Stuttgart Germany Tel: 0711/16433-0 Fax: 0711/16433-50 The District Court of Esslingen opened bankruptcy proceedings against Schenk Plastic Solutions GmbH on May 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Schenk Plastic Solutions GmbH Attn: Andreas R. Budde, Manager Teckstr. 60 73734 Esslingen Germany TI IMPORT: Claims Registration Ends June 27 ------------------------------------------- Creditors of TI Import GmbH Orientteppiche und Moebel have until June 27, 2008 to register their claims with court-appointed insolvency manager Dr. Tibor Daniel Braun. Creditors and other interested parties are encouraged to attend the meeting at 8:30 a.m. on July 22, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Stuttgart Hall 178 Hauffstr. 5 70190 Stuttgart 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. Tibor Daniel Braun Kriegerstr. 3 70191 Stuttgart Germany Tel: 0711/22 55 830 Fax: 0711/22 55 83 20 The District Court of Stuttgart opened bankruptcy proceedings against TI Import GmbH Orientteppiche und Moebel on May 29, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: TI Import GmbH Orientteppiche und Moebel Attn: Maxim Traxel, Manager Schuettelgrabenring 17 71332 Waiblingen Germany ========= I T A L Y ========= ALITALIA SPA: Air France-KLM Ends Hopes for Possible Bid -------------------------------------------------------- Air France-KLM S.A.'s interest in acquiring the Italian government's 49.9% stake in Alitalia S.p.A. is a "case closed," Reuters reports citing the French carrier's chief executive Jean-Cyril Spinetta. As previously reported in the TCR-Europe, Mr. Spinetta said Air France may restart acquisition talks. He, however, said it would be difficult to resume talks in the current economic environment, adding that taking over Alitalia might not create value for Air France's shareholders. In May 2008, Fabio Verna, financial consultant to prime ministerial adviser Bruno Ermolli, said it is possible that the government may resume negotiations over Alitalia. Air France's withdrawal from the sale talks does not mean that the French carrier is not interested in resuming talks on different conditions and different financial consideration. Prime Minister Silvio Berlusconi tasked Mr. Ermolli to find a local buyer for the government's 49.9% stake in Alitalia. 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. FIAT SPA: Inks Two Joint Ventures with Sollers JSC -------------------------------------------------- Fiat Group, on June 7, 2008, signed two master joint ventures agreements with Sollers JSC for the manufacture and distribution of Fiat passenger cars and the production of Fiat Powertrain Technologies' F1A diesel engines. The agreements were signed by Sergio Marchionne, CEO of Fiat Group, and Vadim Shvetsov, CEO of Sollers. Fiat Group Automobiles and Sollers JV, who is already assembling the Fiat Ducato light commercial vehicle, have also agreed to increase the output at Tatarstan' facility for the manufacture of up to 50,000 Fiat Linea sedans whose production will start later this year. In addition, the joint-venture, in which Fiat Group Automobiles and Sollers will each hold a 50 per cent stake, will be in charge of marketing and sales of all Fiat brand products in Russia. The new joint-venture will be integrated into the Fiat Group Automobiles international production network and will therefore be provided with full support of its marketing and product strategies, similar to other Fiat international projects and joint-ventures. Fiat Powertrain Technologies and Sollers will each hold a 50 per cent stake in the second joint-venture that will produce up to 90,000 engines a year, starting from the next winter. The joint-venture will provide engines for the manufacture of the Fiat Ducato, whose assembly has already started in Yelabuga Special Economic Zone in the Republic of Tatarstan, and F1A engines for the production of the UAZ Patriot, an off-roader manufactured by Sollers at UAZ production facilities in Ulyanovski. Mr. Marchionne said, "Today represents a two sided cornerstone for Fiat Group Automobiles and FPT: our partnership with Sollers starts a key chapter within the framework of a strategic alliance that is already benefiting from the strengths of the two partners in one of the world's fastest growing automotive markets. And second it reinforces Fiat Group's aggressively pursued strategy of setting up targeted alliances aimed at leveraging Fiat expertise, expanding its geographic reach, filling its product offering and lowering its cost base." Mr. Shvetsov said, "The establishment of these joint-ventures has become an important step forward in our industrial cooperation with Fiat group which began in 2006. The new joint- ventures will help us to considerably strengthen Fiat positions in Russia and take maximum advantage of the Russian automotive market. I am confident that the local production of F1A engines will increase the competitive advantages of the Fiat Ducato on the Russian market and help to fully satisfy our customers' needs given the growing demand for diesel engines in Russia." About Fiat S.p.A. Based in Turin, Italy, Fiat SpA -- http://www.fiatgroup.com/-- designs, manufactures, and sells automobiles, trucks, wheel loaders, excavators, telehandlers, tractors and combine harvesters. Outside Europe, the company has subsidiaries in the United States, Japan, India, China, Mexico, Brazil and Argentina, among others. * * * Fiat carries Standard & Poor's Ratings Services' BB long-term corporate credit rating. The company also carries a B short-term rating. S&P said the outlook is stable. FIAT SPA: Resumes Production at Cassino and Melfi Plants -------------------------------------------------------- Fiat SpA has resumed production at its Cassino and Melfi plants, Reuters reports citing a company spokeswoman. Production at the Cassino plant was suspended on June 3 as a result of a strike by truck drivers in protest against the rising costs of fuel, Reuters adds. Production at the Melfi plant was suspended the next day, June 4. Production at the company's Termini Imerese plant was also suspended on June 5 due to the strike. However no update was available on its status as of press time. About Fiat Based in Turin, Italy, Fiat SpA -- http://www.fiatgroup.com/-- designs, manufactures, and sells automobiles, trucks, wheel loaders, excavators, telehandlers, tractors and combine harvesters. Outside Europe, the company has subsidiaries in the United States, Japan, India, China, Mexico, Brazil and Argentina, among others. * * * The company also carries Standard & Poor's Ratings Services' BB long-term corporate credit rating. The company also carries B short-term rating. S&P said the outlook is stable. SEAT PAGINE: Appoints Massimo Castelli General Manager for Italy ---------------------------------------------------------------- Seat Pagine Gialle S.p.A. has appointed Massimo Castelli as General Manager for Italy. Seat launched a new corporate structure that includes setting up a General Management Department for Italy, which reports to the CEO and includes the sales and operations activities for Italy -- the structure of the Group�s other departments shall remain unchanged. "SEAT Pagine Gialle is working to enhance the Internet skills and services that have allowed it to serve as a reference point for local communications for businesses and public administrations for years, in order to further develop its position as a world leader for new digital media," Luca Majocchi said, CEO of SEAT Pagine Gialle. "Massimo Castelli is an experienced and skilled manager who I am certain will contribute to strengthening our company, which aims at being ever more customer oriented and innovative in its own print, telephone and Internet multimedia products." "I am excited to be joining SEAT, a company with great potential," Mr. Castelli said, "and I am certain that the expertise and skills that characterize this company will enable me to succeed in this new professional challenge." About Seat Pagine Gialle Headquartered in Turin, Italy, Seat Pagine Gialle S.p.A. -- http://www.seat.it/-- provides a multimedia platform for assisting in the development of business contacts between users and advertisers. * * * Seat Pagine Gialle S.p.A. continues to carry BB� long-term corporate credit rating from Standard & Poor's Ratings Services, with negative outlook. Seat's EUR1.3 billion bond also carries BB- rating. S&P affirmed the ratings in May 2008. The company also carries BB- long-term Issuer Default rating with negative outlook from Fitch Ratings, which affirmed the rating in April 2008. SEAT PAGINE: Names Massimo Cristofori as Chief Financial Officer ---------------------------------------------------------------- Chief Executive Officer Luca Majocchi has completed Seat Pagine Gialle S.p.A.'s top management team by appointing Massimo Cristofori Chief Financial Officer. Mr. Cristofori will also be in charge of the company's financial reports, a responsibility that was handled temporarily by Seat's Chief Executive Officer. Mr. Cristofori previously worked for Tiscali, where he held the position of Chief Financial Officer since 2000. At Tiscali, Cristofori was involved in the process that, through M&A and extraordinary financial transactions, helped make the company one of the key independent players in the sector of telecommunications and the Internet. Mr. Cristofori had held the same position at Class Editori, after having gained valuable experience in the media industry with RCS Editori as M&A Manager and Controller Manager. "The arrival of Massimo Cristofori marks another important step towards reinforcing our management team," commented Mr. Majocchi. "Cristofori brings with him know-how and capabilities that are important for the development of our company, not only for the Italian Internet market, but also for managing the Group's international equity investments." About Seat Pagine Gialle Headquartered in Turin, Italy, Seat Pagine Gialle S.p.A. -- http://www.seat.it/-- provides a multimedia platform for assisting in the development of business contacts between users and advertisers. * * * Seat Pagine Gialle S.p.A. continues to carry BB� long-term corporate credit rating from Standard & Poor's Ratings Services, with negative outlook. Seat's EUR1.3 billion bond also carries BB- rating. S&P affirmed the ratings in May 2008. The company also carries BB- long-term Issuer Default rating with negative outlook from Fitch Ratings, which affirmed the rating in April 2008. TISCALI SPA: Massimo Cristofori Quits as Finance Chief ------------------------------------------------------ Tiscali S.p.A. communicates that, after over eight years of fruitful cooperation, Massimo Cristofori, Group CFO, will leave the Company to pursue another career. Mr. Cristofori, who will remain Board Member of Tiscali S.p.A , has accompanied the company since the first years in its evolution from the start-up phase, managing the team who has also followed the transactions which have led to the current structure of the Group. Mario Rosso, Chairman and CEO of Tiscali S.p.A, wishes to thank Mr. Cristofori, on behalf of the whole Group, for the important and valuable contribution during these years and wishes him to successfully continue his career. The new organizational structure of Tiscali foresees that the these managers within the Finance area now report directly to Mario Rosso, Group CEO: * Ernesto Fara (Head of Administration and Treasury); * Romano Fischetti (Head of Planning, Reporting and Control, to become manager in charge of the preparation of financial statements); * Antonio Corda (Head of Legal and Corporate Affairs); and * Chiara Dorigotti (Head of Investor Relations and Communication). Luca Scano will become CFO of Tiscali Italia. About Tiscali Headquartered in Cagliari, Italy, Tiscali S.p.A. -- http://www.tiscali.com/-- offers Internet access in the country. The group also operates in other European countries, serving more than seven million subscribers, of which over 1.5 million are broadband users. Tiscali posted consecutive net losses for the past years: EUR5.5 million in 1999, EUR101 million in 2000, EUR1.66 billion in 2001, EUR593.1 million in 2002, EUR242.4 million in 2003, EUR131.8 million in 2004, EUR12.9 million in 2005, and EUR103.6 million in 2006. It posted EUR3.88 million in net losses on EUR614.33 million in net revenues for the nine months ended Sept. 30, 2007. * * * Tiscali S.p.A. continues to carry Standard & Poor's Ratings Services' B+ long-term corporate credit rating. The rating was previously at B and was raised by S&P to its current level in February 2008. =================== K A Z A K H S T A N =================== ASIA SAHAR: Creditors Must File Claims by July 18 ------------------------------------------------- Akmola Representation of JSC Asia Sahar has declared insolvency. Creditors have until July 18, 2008, to submit written proofs of claims to: Akmola Representation of JSC Asia Sahar Office 41 Jeltoksan Str. 30 Astana Kazakhstan ENERGO COMPLECT: Claims Deadline Slated for July 18 --------------------------------------------------- The Specialized Inter-Regional Economic Court of Karaganda has declared LLP Energo Complect insolvent. Creditors have until July 18, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Karaganda Jambyl Str. 9 Karaganda Kazakhstan EUROASIA TRADING: Claims Filing Period Ends July 22 --------------------------------------------------- LLP Euroasia Trading Company has declared insolvency. Creditors have until July 22, 2008, to submit written proofs of claims to: LLP Euroasia Trading Company Mahambet Str. 118 Atyrau Kazakhstan JASULAN-TRADE LLP: Creditors' Claims Due on July 22 --------------------------------------------------- The Specialized Inter-Regional Economic Court of East Kazakhstan has declared LLP Jasulan-Trade insolvent. Creditors have until July 22, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of East Kazakhstan Myzy Str. 2/1 Ust-Kamenogorsk East Kazakhstan Kazakhstan Tel: 8 (7232) 24-06-50 RENESSANS CAPITAL: Claims Registration Ends July 18 --------------------------------------------------- The Specialized Inter-Regional Economic Court of Akmola has declared LLP Renessans Capital insolvent. Creditors have until July 18, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Akmola Room 208 Auelbekov Str. 139a Kokshetau Akmola Kazakhstan Tel: 8 (7162) 40-17-08 STROY INVEST: Creditors Must File Claims by July 18 --------------------------------------------------- The Specialized Inter-Regional Economic Court of East Kazakhstan has declared LLP Company Stroy Invest insolvent. Creditors have until July 18, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of East Kazakhstan Frunze Str. 52-52 Zyryanovsk East Kazakhstan Kazakhstan Tel: 8 (72335) 6-03-83 8 (72335) 4-01-07 TECH STROY: Claims Deadline Slated for July 18 ---------------------------------------------- The Specialized Inter-Regional Economic Court of Akmola has declared LLP Tech Stroy Snub Plus insolvent. Creditors have until July 18, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Akmola Room 208 Auelbekov Str. 139a Kokshetau Akmola Kazakhstan Tel: 8 (7162) 40-17-08 TECHNO STROY: Claims Filing Period Ends July 22 ----------------------------------------------- The Specialized Inter-Regional Economic Court of South Kazakhstan has declared LLP Techno Stroy Service-Ltd. insolvent. Creditors have until July 22, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of South Kazakhstan Ilyaev Str. 24 Shymkent South Kazakhstan Kazakhstan TRANS AUTO-2005: Creditors' Claims Due on July 18 ------------------------------------------------- The Specialized Inter-Regional Economic Court of Karaganda has declared LLP Kaz Trans Auto-2005 insolvent. Creditors have until July 18, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Karaganda Jambyl Str. 9 Karaganda Kazakhstan =================== K Y R G Y Z S T A N =================== TRANS GAS: Creditors Must File Claims by July 11 ------------------------------------------------ LLC Trans Gas Oil has declared insolvency. Creditors have until July 11, 2008 to submit written proofs of claim to: LLC Trans Gas Oil Frunze Str. 338 Bishkek Kyrgyzstan =========== R U S S I A =========== APPLE LLC: Bashkortostan Bankruptcy Hearing Slated for July 7 ------------------------------------------------------------- The Arbitration Court of Bashkortostan will convene at 10:00 a.m. on July 7, 2008, to hear the bankruptcy supervision procedure on LLC Apple (TIN 0278097637). The case is docketed under Case No. A07-14807/07-G-SVI. The Temporary Insolvency Manager is: R. Valiev Apt.60 Volgogradskaya Str. 9/1 452009 Belebey Russia The Court is located at: The Arbitration Court of Krasnoyarsk Lenina Str. 143 660021 Krasnoyarsk Russia The Debtor can be reached at: LLC Apple Salavata Yulaeva Pr. 93 Ufa 450078 Bashkortostan Russia ALLOY LLC: Creditors Must File Claims by July 24 ------------------------------------------------ Creditors of LLC Alloy (TIN 0608001914) have until July 24, 2008, to submit proofs of claim to: V. Zotyev Insolvency Manager 344010 Rostov-na-Donu Nakhichevanskiy Per. 64 Russia The Arbitration Court of Ingushetiya commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A18-466/2007. The Debtor can be reached at: LLC Alloy Bazorkina Str. 21 Nazran Ingushetiya Russia DONSKAYA BUILDING: Court Names M. Demirov as Insolvency Manager --------------------------------------------------------------- The Arbitration Court of Rostov appointed M. Demirov as Insolvency Manager for CJSC Donskaya Building Company. He can be reached at: M. Demirov Tekucheva Str. 139 Rostov-na-Donu Russia The Court commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A53-6033/06-S2-36. 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 Donskaya Building Company Tekucheva Str. 139 Rostov-na-Donu Russia FRAM CJSC: Creditors Must File Claims by July 24 ------------------------------------------------------- Creditors of CJSC Fram (TIN 5509003934) have until July 24, 2008, to submit proofs of claim to: A. Budelev Insolvency Manager Office 1 Bratskaya Str. 11/1 644006 Omsk Russia The Arbitration Court of Omsk commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A46-4606/2007. The Debtor can be reached at: CJSC Fram Rossiyskaya Str. 42 Azovo Azovskiy NNP Omsk Russia INTERNATIONAL BUILDING: Bankruptcy Hearing Slated for Sept. 18 -------------------------------------------------------------- The Arbitration Court of Moscow will convene on Sept. 18, 2008, to hear the bankruptcy supervision procedure on LLC International Building Service and Investments (TIN 7725517617). The case is docketed under Case No. A40-12322/08-44-26B. The Temporary Insolvency Manager is: A. Kubasov Volgogradskiy Pr. 28A Moscow Russia The Court is located at: The Arbitration Court of Moscow Novaya Basmannaya Str. 10 Moscow Russia The Debtor can be reached at: LLC International Building Service and Investments Kolomenskaya Str. 17 Moscow Russia LAZDENEN LLC: Creditors Must File Claims by July 24 --------------------------------------------------- Creditors of LLC Cheese Diary Lazdenen have until July 24, 2008, to submit proofs of claim to: R. Lapidus Insolvency Manager Room 5 Gogolya Str. 12 236008 Kaliningrad Russia The Arbitration Court of Kaliningrad commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A21-8744/2007. The Court is located at: The Arbitration Court of Kaliningrad Rokossovskogo Str. 2 Kaliningrad Russia The Debtor can be reached at: LLC Cheese Diary Lazdenen Matrosova Str. 16 Krasnoznamensk 238730 Kaliningrad Russia MICRO-TALC OJSC: Court Starts Bankruptcy Supervision Procedure -------------------------------------------------------------- The Arbitration Court of Krasnoyarsk commenced bankruptcy supervision procedure on OJSC Micro-Talc. The case is docketed under Case No. A33-3629/2008. The Temporary Insolvency Manager is: A. Gievskiy 660125 Krasnoyarsk Urvantseva Str. 23-7 Russia The Court is located at: The Arbitration Court of Krasnoyarsk Lenina Str. 143 660021 Krasnoyarsk Russia The Debtor can be reached at: OJSC Micro-Talc Polyarnaya Str. 18 Motygino 663400 Krasnoyarsk Russia PIT KRASNOLESYE: Kaliningrad Bankruptcy Hearing Set August 11 ------------------------------------------------------------- The Arbitration Court of Kaliningrad will convene on Aug. 11, 2008, to hear the bankruptcy supervision procedure on LLC Pit Krasnolesye. The case is docketed under Case No. A21-1453/08. The Temporary Insolvency Manager is: A. Spirkin Post User Box 634 236010 Kaliningrad Russia The Court is located at: The Arbitration Court of Kaliningrad Rokossovskogo Str. 2 Kaliningrad Russia The Debtor can be reached at: LLC Pit Krasnolesye Sosnovaya Str. 17 Krasnolesye 238023 Nesterovskiy Russia PROM-SVYAZ' OJSC: Creditors Must File Claims by July 24 ------------------------------------------------------- Creditors of OJSC Krasnoslobodskiy Factory Prom-Svyaz' have until July 24, 2008, to submit proofs of claim to: V. Bulgakov Insolvency Manager Sovetskaya Str.47-2 Saransk 430000 Mordoviya Russia The Arbitration Court of Mordoviya commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A39-4574/07-164/7. The Court is located at: The Arbitration Court of Mordoviya Kommunisticheskaya Str. 33 Saransk Mordoviya Russia The Debtor can be reached at: OJSC Krasnoslobodskiy Factory Prom-Svyaz' Kirovskiy Per. 16 Krasnoslobodsk Krasnoslobodksiy Mordoviya Russia SEL-KHOZ-TEKHNIKA: Creditors Must File Claims by June 24 -------------------------------------------------------- Creditors of CJSC Sel-Khoz-Tekhnika have until June 24, 2008, to submit proofs of claim to: E. Shirova Insolvency Manager Post User Box 345 Post User Box 230 115230 Moscow Russia The Arbitration Court of Moscow commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A41-B2-11511/07. The Court is located at: The Arbitration Court of Moscow Novaya Basmannaya Str. 10 Moscow Russia The Debtor can be reached at: CJSC Sel-Khoz-Tekhnika Proletarskaya Str. 51 Zvenigorod Russia SEV-STROY-SNAB: Creditors Must File Claims by June 24 ----------------------------------------------------- Creditors of OJSC Sev-Stroy-Snab (TIN 5192800409) have until June 24, 2008, to submit proofs of claim to: A. Gorelkin Temporary Insolvency Manager Naberezhnaya Str. 11 Zverosovkhoz Kolskiy 184366 Murmansk Russia Tel: 8-815-53-92-336 The Arbitration Court of Murmansk will convene at 10::00 a.m. on Oct. 7, 2008, to hear the company's bankrupty supervision procedure. The case is docketed under Case No. A42-364/2008. The Court is located at: The Arbitration Court of Murmansk Knipovicha Str. 20 Murmansk Russia The Debtor can be reached at: OJSC Sev-Stroy-Snab Promyshlennaya Str. 10 183032 Murmansk Russia SOCHI-OIL-STROY: Creditors Must File Claims by July 24 ------------------------------------------------------ Creditors of LLC Sochi-Oil-Stroy have until July 24, 2008, to submit proofs of claim to: N. Sasin Insolvency Manager 6th floor Entrance 1 Lenina Str. 219 355017 Stavropol Russia The Arbitration Court of Krasnodar commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A-32-20479/2007-1/502-B. The Court is located at: The Arbitration Court of Krasnodar Krasnaya Str. 6 Krasnodar Russia The Debtor can be reached at: LLC Sochi-Oil-Stroy Konstitutsii Str. 48 Sochi Russia TAYSHETSKIY COMBINE: Asset Sale Slated for June 25 -------------------------------------------------- The insolvency manager and bidding organizer for OJSC Tayshetskiy Combine of Grain Products, will open a public auction for the company's properties at 1:00 p.m. on June 25, 2008 at: The Insolvency Manager Office 121 Sovetskaya Str. 55 664007 Irkutsk Russia Interested participants have until June 18, 2008, to deposit an amount equivalent to 20% of the starting price to: OJSC Tayshetskiy Combine of Grain Products Settlement Account 40702810300120000211 Correspondent Account 30101810800000000888 BIK 042520888 FMCB MAC-BANK (LLC) Irkuts Irkutsk Russia Bidding documents must be submitted to: The Insolvency Manager Office 121 Sovetskaya Str. 55 664007 Irkutsk Russia The Debtor can be reached at: OJSC Tayshetskiy Combine of Grain Products Kirova Str. 224 Tayshet Irkutsk Russia VIMPEL-COMMUNICATIONS: Shareholders Approve RUR13.85BB Dividends ---------------------------------------------------------------- The Annual General Shareholders Meeting of OJSC Vimpel- Communications has approved the payment of annual dividends in the amount of RUR270.01 per ordinary share of stock (or around US$0.57 per American Depositary Share based on the Russian Central Bank exchange rate as of June 9, 2008) for the 2007 fiscal year. The dividend, amounting to a total of RUR13.85 billion (or approximately US$588 million based on the Russian Central Bank exchange rate as of June 9, 2008), is payable within 60 days. About VimpelCom Headquartered in Moscow, Russia, OJSC Vimpel-Communications (NYSE: VIP) -- http://www.vimpelcom.com/-- provides mobile telecommunications services in Russia and Kazakhstan with newly acquired operations in Ukraine, Tajikistan and Uzbekistan. The Company operates under the 'Beeline' brand in Russia and Kazakhstan. In addition, VimpelCom is continuing to use 'K- mobile' and 'EXCESS' brands in Kazakhstan. The group wholly owns Mobitel in Georgia. * * * OJSC Vimpel-Communications continues to carry Ba2 Corporate Family, Probability-of-Default and Senior Unsecured Debt Ratings with stable outlook from Moody's Investors Service. The agency affirmed the ratings in April 2008. The company also continues to carry BB+ long-term corporate credit and unsecured senior debt ratings with stable outlook from Standard & Poor's Ratings Services. VIMPEL-COMMUNICATIONS: Shareholders Elect New Board --------------------------------------------------- Shareholders of OJSC Vimpel-Communications has elected a new Board of Directors. * Mikhail Fridman (Member of the Board of Directors of Alfa- Bank, Chairman of the Supervisory Board of Alfa Group Consortium, Chairman of the Board of Directors of TNK-BP, member of the Board of Directors of VimpelCom since July 2001); * Kjell Morten Johnsen (Senior Vice President of Telenor Central & Eastern Europe, Head of Telenor Russia, member of the Board of Directors of VimpelCom since July 2007); * Hans Peter Kohlhammer (Founder of Kohlhammer Consulting, CEO of Broadnet AG, a new member of the Board of Directors of VimpelCom); * Jo Lunder (President of Ferd Industrial Holding, member of VimpelCom�s Board of Directors since May 2002, former General Director and Chairman of the Board of Directors of VimpelCom); * Oleg Malis (Senior Vice President of Altimo, member of the Board of Directors of VimpelCom since June 2006); * Leonid Novoselsky (General Director of OOO GK Gradient, member of the Board of Directors of VimpelCom since June 2006); * Alexei Reznikovich (Chief Executive Officer of Altimo, member of the Board of Directors of VimpelCom since May 2002); * Ole Bjorn Sjulstad (Senior Vice President, Central & Eastern Europe of Telenor, a new member of the Board of Directors of VimpelCom); and * Jan Edvard Thygesen (Executive Vice President of Telenor, Head of Central/Eastern European operations, a new member of the Board of Directors of VimpelCom). About VimpelCom Headquartered in Moscow, Russia, OJSC Vimpel-Communications (NYSE: VIP) -- http://www.vimpelcom.com/-- provides mobile telecommunications services in Russia and Kazakhstan with newly acquired operations in Ukraine, Tajikistan and Uzbekistan. The Company operates under the 'Beeline' brand in Russia and Kazakhstan. In addition, VimpelCom is continuing to use 'K- mobile' and 'EXCESS' brands in Kazakhstan. The group wholly owns Mobitel in Georgia. * * * OJSC Vimpel-Communications continues to carry Ba2 Corporate Family, Probability-of-Default and Senior Unsecured Debt Ratings with stable outlook from Moody's Investors Service. The agency affirmed the ratings in April 2008. The company also continues to carry BB+ long-term corporate credit and unsecured senior debt ratings with stable outlook from Standard & Poor's Ratings Services. VTOR-CHER-MET: Creditors Must File Claims by July 24 ---------------------------------------------------- Creditors of OJSC Vtor-Cher-Met have until July 24, 2008, to submit proofs of claim to: O. Shatalova Insolvency Manager Post User Box 2493 410076 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-57-364B/2007-8. The Court is located at: The Arbitration Court of Saratov Babushkin Vvoz 1 Saratov Russia The Debtor can be reached at: OJSC Vtor-Cher-Met Ordzhonikidze Str. 65 410015 Saratov Russia YURYEV-POLSKIY BAKERY: Names S. Skachkov as Insolvency Manager -------------------------------------------------------------- The Arbitration Court of Vladimir appointed S. Skachkov as Insolvency Manager for OJSC Yuryev-Polskiy Bakery. He can be reached at: S. Skachkov Office 20 L. Bazanovoj Str. 5 170100 Tver Russia The Court commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A11-561/2007-K1-34B. The Court is located at: The Arbitration Court of Vladimir Oktyabrskiy Pr. 14 600025 Vladimir Russia The Debtor can be reached at: OJSC Yuryev-Polskiy Bakery Zagorodnaya Str. 2 Yuryev-Polskiy 601800 Vladimir Russia ============= U K R A I N E ============= B. HMELNITSKY LLC: Creditors Must File Claims by June 22 -------------------------------------------------------- Creditors of B. Hmelnitsky LLC (code EDRPOU 03787182) have until June 22, 2008, to submit proofs of claim to: The Economic Court of Hmelnitskij Nezalezhnosti Square 1 29000 Hmelnitskij Ukraine The Economic Court of Hmelnitskij commenced bankruptcy proceedings against the company after finding it insolvent on May 6, 2008. The case is docketed as 4/354-B. The Debtor can be reached at: B. Hmelnitsky LLC Bila Chemerovetsky District Hmelnitskij Ukraine BON: Creditors Must File Claims by June 25 ------------------------------------------ Creditors of Common Enterprise Bon (code EDRPOU 03052836) have until June 25, 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 after finding it insolvent on May 5, 2008. The case is docketed as 12/45b. The Debtor can be reached at: LLC Karat Bezgrebelny Str. 1-a Sverdlovsk Lugansk Ukraine DAKRON LLC: Proofs of Claim Deadline Set June 22 ------------------------------------------------ Creditors of LLC Dakron (code EDRPOU 32029660) have until June 22, 2008, to submit proofs of claims to: The Economic Court of Kharkov Derzhprom 8th Entrance Svoboda Square 5 61022 Kharkov Ukraine The Economic Court of Kharkov commenced bankruptcy supervision procedure on the company on May 7, 2008. The case is docketed as B-19/40-08. The Debtor can be reached at: LLC Dakron Apartment 512A Bakulin Str. 11 Kharkov Ukraine GENERAL CONTRACTOR: Creditors Must File Claims by June 25 --------------------------------------------------------- Creditors of LLC General Contractor (code EDRPOU 33783034) have until June 25, 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 20, 2008. The case is docketed as 44/6-b. The Debtor can be reached at: LLC General Contractor Obolon Avenue 23-A 04205 Kiev Ukraine IZIUM MEATCOMBINE: Proofs of Claim Deadline Set June 25 ------------------------------------------------------- Creditors of CJSC Izium Meatcombine (code EDRPOU 00444180) have until June 25, 2008, to submit proofs of claims to: The Economic Court of Kharkov Derzhprom 8th Entrance Svoboda Square 5 61022 Kharkov Ukraine The Economic Court of Kharkov commenced bankruptcy supervision procedure on the company on April 10, 2008. The case is docketed as B-24/76-08. The Debtor can be reached at: CJSC Izium Meatcombine Komintern Str. 4 Izium Kharkov Ukraine LADA-SERVICE: Creditors Must File Claims by June 22 --------------------------------------------------- Creditors of LLC Lada-Service Service Center-3 (code EDRPOU 24749524)have until June 22, 2008, to submit proofs of claim to: The Economic Court of Herson Gorkiy Str. 18 73000 Herson Ukraine The Economic Court of Herson commenced bankruptcy proceedings against the company on April 23, 2008, after finding it insolvent. The case is docketed as 6/96-B-08. The Debtor can be reached at: LLC Lada-Service Service Center-3 Berislav Highway 27 Herson Ukraine MARKET PODZAMCHEYE: Creditors Must File Claims by June 25 --------------------------------------------------------- Creditors of LLC Lvov Trade-Production Enterprise Near the Market Podzamcheye (code EDRPOU 19164879)have until June 25, 2008, to submit proofs of claim to: The Economic Court of Lvov Lichakivska Str. 81 79010 Lvov Ukraine The Economic Court of Lvov commenced bankruptcy proceedings against the company after finding it insolvent on April 8, 2008. The case is docketed as 8/71. The Debtor can be reached at: LLC Lvov Trade-Production Enterprise Near the Market Podzamcheye B. Hmelnitsky Str. 165 79000 Lvov Ukraine NIKOLAYEV CLOTHING: Creditors Must File Claims by June 22 --------------------------------------------------------- Creditors of OJSC Nikolayev Clothing Factory (code EDRPOU 19339646) have until June 25, 2008, to submit proofs of claim to: The Economic Court of Lvov Lichakivska Str. 81 79010 Lvov Ukraine The Economic Court of Lvov commenced bankruptcy proceedings against the company after finding it insolvent on April 8, 2008. The case is docketed as 29/40. The Debtor can be reached at: OJSC Nikolayev Clothing Factory Lvov Highway Str. 3 Nikolayev 81600 Lvov Ukraine NPSO FOCON: Creditors Must File Claims by June 22 ------------------------------------------------- Creditors of LLC NPSO Focon (code EDRPOU 34860109) have until June 22, 2008, to submit proofs of claims to: The Economic Court of Kharkov Derzhprom 8th Entrance Svoboda Square 5 61022 Kharkov Ukraine The Economic Court of Kharkov commenced bankruptcy proceedings against the company after finding it insolvent on May 13, 2008. The case is docketed as B-19/62-08. The Debtor can be reached at: LLC NPSO Focon Apartment 33 Frunze Str. 50 Izium Kharkov Ukraine RADIOSERVICE: Creditors Must File Claims by June 25 --------------------------------------------------- Creditors of Common Enterprise Radioservice (code EDRPOU 05478491) have until June 25, 2008, to submit proofs of claim to: The Economic Court of Sumy Shevchenko Avenue 18/1 40030 Sumy Ukraine The Economic Court of Sumy commenced bankruptcy proceedings against the company after finding it insolvent on May 8, 2008. The case is docketed as 6/64-07. The Debtor can be reached at: Common Enterprise Radioservice Levanevsky Str. 10/1 40011 Sumy Ukraine SONOPIA LLC: Creditors Must File Claims by June 25 -------------------------------------------------- Creditors of LLC Sonopia (code EDRPOU 34414909) have until June 25, 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 20, 2008. The case is docketed as 44/5-b. The Debtor can be reached at: LLC Sonopia Patrice Lumumba Str. 15-A 01042 Kiev Ukraine SPECIAL TECHNICAL: Proofs of Claim Deadline Set June 25 ------------------------------------------------------- Creditors of LLC Special Technical Service (code EDRPOU 22607978) have until June 25, 2008, to submit proofs of claims to: The Economic Court of Kharkov Derzhprom 8th Entrance Svoboda Square 5 61022 Kharkov Ukraine The Economic Court of Kharkov commenced bankruptcy supervision procedure on the company on May 12, 2008. The case is docketed as B-24/73-08. The Debtor can be reached at: LLC Special Technical Service Krasnoarmeyskaya Str. 2A Natalinoye Krasnograd District Kharkov Ukraine =========================== U N I T E D K I N G D O M =========================== FELIX CORPORATION: Brings In Liquidators from KPMG -------------------------------------------------- David James Costley-Wood and Brian Green of KPMG LLP were appointed joint liquidators of Felix Corporation Ltd. on May 29 for the creditors' voluntary winding-up proceeding. The joint liquidators can be reached at: KPMG LLP St. James' Square Manchester M2 6DS England GLENADEN SHIRTS: Loss of Big Customer Prompts Administration ------------------------------------------------------------ Glenaden Shirts Ltd. went into administration on June 5, 2008. The company pins global credit crisis and the loss of a big retail customer as the reasons for the collapse, u.tv reports. "To be quite honest we were half expecting it because we were operating a large factory with 30 employees. We were down to about 400 shirts a week and it did not make economic sense," John Rankin, an employee, was quoted by u.tv as saying. Glenaden Shirts Ltd -- http://www.glenaden.com/index.php-- designs and manufactures men's shirts for premium UK and North American retailers. JT FRITH: Debts Prompts Shareholders to Approve Administration -------------------------------------------------------------- JT Frith Limited entered voluntary administration after shareholders decided it was the best course of action after the company accumulated overwhelming debts, chad.co.uk reports. chad.co.uk quoted the company spokesman saying, "shareholders made the decision to go into administration as a way of financially restructuring the company and putting it in a stronger financial footing. It was a way of protecting people's jobs and the company. Employees and customers will not notice any difference as we will go on operating as normal." The company assures retailers that its nine depots will continue to operate as normal and jobs are secured, chad.co.uk adds. LEGER FOODS: Calls In Liquidators from Tenon Recovery ----------------------------------------------------- Matthew Colin Bowker and David Willis of Tenon Recovery were appointed joint liquidators of Leger Foods (Bradford) Ltd. (formerly Funnymotor Ltd.) on May 29 for the creditors' voluntary winding-up proceeding. The joint liquidators can be reached at: Tenon Recovery 33 George Street Wakefield West Yorkshire WF1 1LX England LEMONPARK CONSTRUCTION: Goes Into Voluntary Liquidation ------------------------------------------------------- Lemonpark Construction Ltd. has entered into creditors' voluntary liquidation with debts of GBP4.2 million, Rochdale Online reports. Lemonpark, Rochdale Online relates, owed trade creditors about GBP2 million. The company also owed its three directors -- Michael Russell, Michael Drogan and Christopher Drogan -- GBP439,000 each. A Crain's Business News report attributed Lemonpark's dissolution to a management decision that had "cost the company millions," Rochdale discloses. Based in Heywood, England, Lemonpark Construction Ltd. is connected with MMC Developments Ltd. PHOTO-OPTIX LIMITED: Calls in Joint Administrators -------------------------------------------------- Stephen Cork and Joanne Milner of Smith & Williamson Limited were appointed joint administrators of Photo-Optix Limited, Chris Cheesman writes for the Amateur Photographer. The administrators have suspended operations at Photo-Optix's 12 stores while conducting an inventory of the company's stocks, the Amateur Photographer relates. Ms. Milner told the Amateur Photographer that administrators have to conduct stocktaking because creditors have been claiming for retention of title, preventing the company to resume trading. Administrators are currently reviewing the validity of the claims. "We need to find out how much free stock is available to allow us to continue trading," Ms. Milner added to the Amateur Photographer. According to Ms. Milner, the Amateur Photographer relates, Photo-Optix might be sold if an interested buyer approach the administrators. Industry sources suggested to the Amateur Photographer that Photo-Optix has been suffering financially. Headquartered in Berkshire, United Kingdom, Photo-Optix Limited -- http://www.digistor.co.uk/-- is a photographic chain selling equipment and accessories. SCOTTISH RE: Selling International Life Unit to PacificLife ----------------------------------------------------------- Scottish Re Group Limited and Pacific Life Insurance Company have signed a definitive agreement whereby Pacific LifeCorp, parent of Pacific Life, will purchase the company's International Life Reinsurance segment. The new operation, to be called Pacific Life Re, provides reinsurance solutions to insurance and annuity providers in the United Kingdom and Ireland and to insurers in selected markets in Asia. The purchase price is US$71.2 million, subject to certain potential downward adjustments. Other terms of the purchase agreement were not disclosed. The transaction is subject to regulatory approvals and other customary closing conditions, both of which are expected to be achieved during the third quarter of 2008. "The purchase of Scottish Re's international business is a great opportunity for Pacific Life," said Pacific Life's Chairman, President and CEO Jim Morris. "Scottish Re's international business has great growth potential and this transaction provides Pacific Life a practical way to access the growing UK and Asian markets. I am very impressed with the current management team and believe that their expertise, with the support of Pacific Life, will allow us to realize the growth potential that exists." Through this purchase, Pacific will acquire these assets: * Scottish Re Limited (SRL), a London-based life reinsurer; * Scottish Re Holdings Limited, the holding company of Scottish Re Limited; * International segment business written by Scottish Annuity & Life Insurance Company (Cayman) Ltd. together with certain business retroceded within the Scottish Re group; and * the staff and physical assets based in Singapore and Japan. "The sale of the International Life Reinsurance segment is a positive outcome for Scottish Re and is consistent with the revised strategic direction that we announced in February of this year," George Zippel, President & CEO of Scottish Re Group Limited, commented. "Under Pacific Life's ownership, David Howell and his talented team of professionals will have the opportunity to provide significant value to clients and deliver strong financial results to Pacific Life. We wish the entire Pacific Life Re team all the best." As part of the agreement, the current management of the acquired companies will remain intact. Pacific Life Re, which will report to Mary Ann Brown, Pacific Life's senior vice president of corporate development, will be headed by David Howell and an executive team of seven professionals with a combined 160 years of insurance and reinsurance experience in the U.K., Canada, and Asia. The executive team will comprise: * David Howell, FSA - Chief Executive Officer * Warren Copp - Chief Underwriter * Duncan Hayward, ACA - Chief Financial Officer * David Heeney, FIA - Chief Marketing Officer, U.K. and Ireland * Andrew Linfoot, FIAA - Regional Director, Asia * Steve Nuttall, FIA - Chief Pricing Officer * George Scott, Solicitor - Legal Counsel and Chief Risk Officer * Jerry Staffurth, FIA - Chief Actuary The headquarters of Pacific Life Re will remain in London, with approximately 80 employees in the U.K. and 15 employees in Singapore and Tokyo. "This transaction is excellent news for our business and for our clients," said David Howell, future CEO of Pacific Life Re. "Pacific Life has an outstanding reputation for corporate excellence, customer focus, and financial strength and we are delighted to be joining such a highly-regarded company. The formation of Pacific Life Re will create exciting growth opportunities for our newly combined businesses and will provide our clients with the confidence and security they seek from a market-leading reinsurance partner." About Pacific LifeCorp Pacific LifeCorp, the parent company of Pacific Life, provides life insurance products, individual annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. About Scottish Re Scottish Re Group Ltd. -- http://www.scottishre.com/-- is a global life reinsurance specialist. Scottish Re has operating businesses in Bermuda, Ireland, Singapore, the United Kingdom and the United States. Its flagship operating subsidiaries include Scottish Annuity & Life Insurance Company (Cayman) Ltd., Scottish Re (U.S.) Inc., and Scottish Re Limited. As of Sept. 30, 2007, the company's consolidated balance sheet showed US$13.372 billion in total assets, US$11.939 billion in total liabilities, US$7.4 million in minority interest, US$555.9 million in convertible cumulative participating preferred shares, and US$869.3 million in total shareholders' equity. * * * Scottish Re Group Limited continues to carry preferred stock debt rating of Caa3, and insurance financial strength ratings of the company's core insurance subsidiaries, Scottish Annuity & Life Insurance Company Ltd. and Scottish Re Inc. at Ba3. The ratings were downgraded in March 2008. The company also carries Standard & Poor's Ratings Services' CCC- counterparty credit rating while its operating companies carry B- counterparty credit and financial strength ratings. All of these ratings remain on CreditWatch with negative implications. Scottish Re Group Limited still carries CCC Issuer Default Rating from. Its primary North American operating subsidiaries carries to CCC+ Insurer Financial Strength ratings The Rating Watch has been revised to Evolving from Negative. * Moody's Says UK Non-conforming RMBS Delinquencies Rise in Q1 -------------------------------------------------------------- In the coming quarters, the weighted-average delinquency level is expected to continue to rise, as a result of fewer refinancing opportunities for borrowers coming out of their teaser-rate, says Moody's Investors Service in its latest index report for the sector. During first quarter 2008, Moody's downgraded seven classes of securities issued by MARS 3, Money Partners 2 and Residential Mortgage Securities 20 and 22. Five securities, issued by Leek Number Fifteen plc, were upgraded. According to the report, weighted-average delinquencies were subject to their biggest increase since fourth quarter 2004. "The weighted-average delinquency trend during first quarter 2008 for the UK Non-Conforming RMBS sector increased to 8.8%, from 7.7% in fourth quarter 2007. This compares with 8.1% in 2005, 9.0% in 2006 and 7.2% in 2007," says Georgij Ludmirskij, a Moody's Senior Associate and co-author of the report entitled 'UK Non-Conforming RMBS first quarter 2008 Index'. "Vintage 2007 has shown the steepest increase in repossessions in its first year after closing. At the same stage of seasoning, the repossessions in the vintages 2005 and 2006 remained below 0.50% and for all other vintages below 0.30%," adds Mr. Ludmirskij. Some transactions recorded up to 2.5% of repossessions in their first year after closing. Market events are continuing to affect the sector. "In the face of the current credit crunch, UK Non-Conforming borrowers are likely to continue to face restrictions in available product offerings from specialist lenders," says Nitesh Shah, a Moody's Economist and report co-author. "UK house prices fell on a month-on-month basis in each month during the first quarter of 2008 and housing activity continued to slow down," Mr. Shah continues. "In addition, the UK mortgage debt service ratio remains elevated. The 'payment shock' to those mortgage holders coming off the fixed interest rate period of their mortgages may increase stress on householders." ********* 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 * * *