/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/080715.mbx T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Tuesday, July 15, 2008, Vol. 9, No. 139 Headlines F R A N C E CLAIRE'S STORES: Zimmermann Quits as President for North America G E R M A N Y ANDRIC MONTAGE: Claims Registration Period Ends July 25 AREAL-PLAN GARTEN: Claims Registration Period Ends July 25 BHT AUTOMOBILE: Claims Registration Period Ends July 25 BIAG VERWALTUNGS: Claims Registration Period Ends July 28 CAR-D VERTRIEBS: Claims Registration Period Ends July 25 DL SOLARTEC: Claims Registration Period Ends July 25 DOHM GMBH: Claims Registration Period Ends July 25 EAST STAR: Claims Registration Period Ends July 25 EBA SCHOOL: Claims Registration Period Ends July 28 EISEN-DATTLER: Claims Registration Period Ends July 25 F.A.C.H. BAU: Claims Registration Period Ends July 25 FACH BAU: Claims Registration Period Ends July 24 FINE FOOD: Claims Registration Period Ends July 28 GNEISENAUSTRASSE 35: Claims Registration Period Ends July 24 HAASE BETEILIGUNGS: Claims Registration Period Ends July 28 IKB DEUTSCHE: Supervisory Board Approves 2007 Annual Accounts IKB DEUTSCHE: Supervisory Board Extends Management Board Mandate JUNG FORSTSERVICE: Claims Registration Period Ends July 28 KUENSTLERTREFF MIROE: Claims Registration Period Ends July 28 VS2008 GMBH: Claims Registration Period Ends July 22 I T A L Y ALITALIA SPA: Adviser Plans Administration Under Amended Law PARMALAT SPA: Allocated Shares Hike Equity Capital PARMALAT SPA: Board to Review Interim Data July 30, 2008 K A Z A K H S T A N ADILET ER: Creditors Must File Claims by August 26 ALLIANCE TRANSIT: Claims Filing Deadline Slated for August 26 EK KONSUL: Claims Filing Period Ends August 26 ENERGO LEP: Creditors' Proofs of Claim Due by August 26 INFECOM ASIA: Claims Registration Period Ends August 22 INTER EKSIM: Creditors Must File Claims by Aug. 26 KAZMARKET-S LLP: Claims Filing Deadline Slated for August 26 KURYLYS-EXPRESS LLP: Claims Filing Period Ends August 22 MUNAI TRANS: Creditors' Proofs of Claim Due by August 26 NEW PERFECT: Creditors Must File Claims by August 22 PROMRESOURCE-PV LLP: Claims Registration Period Ends August 26 SAMAL LTD: Claims Filing Deadline Slated for August 26 SIB PHARM-ALMATY: Claims Filing Deadline Slated for August 22 TECHNOSERVICE-2030 LLP: Claims Filing Period Ends August 22 K Y R G Y Z S T A N SUNSHINE CENTURY: Creditors Must File Proofs of Claim by Aug. 27 N E T H E R L A N D S SENSATA TECHNOLOGIES: Moody's Cuts Ratings, Junks Senior Notes R U S S I A A-B-M TRAKS: Creditors Must File Claims by July 17 AGRO-MEL-TRANS: Court Starts Bankruptcy Supervision Procedure AMUR OJSC: Asset Sale Slated for July 25 BREAD ILANSKIY: Creditors Must File Claims by August 17 DOMINO CJSC: Court Starts Bankruptcy Supervision Procedure DOOR MANUFACTURE: Creditors Must File Claims by August 17 KAMCHAT-RYB-SPETS-STROY: Creditors Must File Claims by August 17 LIGHT LLC: Creditors Must File Claims by July 17 METAL-SNAB-URAL: Creditors Must File Claims by July 17 MOBILE-TRANSPORT: Kirov Bankruptcy Hearing Slated for Sept. 2 PLOTINKA CJSC: Creditors Must File Claims by August 17 ROSA KUZBASS: Creditors Must File Claims by August 17 SISTEMA JSFC: Names Maxim Uvarov as Binnofarm Unit Chief TATNEFT OAO: Hikes Crude Output in Fist Half 2008 TATNEFT OAO: Fitch Lifts Issuer Default Rating to BB from B+ TRANSNEFT OAO: Earns RUR64.67 Billion for Full Year 2007 URAL-OIL LLC: Creditors Must File Claims by August 17 VESTOS-NN CJSC: Creditors Must File Claims by July 17 VOSTOK-TEKH-MONTAZH: Creditors Must File Claims by July 17 S P A I N CAJA DE AHORROS: Fitch Affirms BB+ Support Floor Rating CAJA DE GENERAL: Fitch Holds Support Rating Floor at 'BB+' EDV PACKAGING: Files for Insolvency; Seeks Investor S W I T Z E R L A N D 24 STUND: Creditors Must File Proofs of Claim by July 25 ACR CAR: Leistal Court Commences Bankruptcy Proceedings AKTIENPOWER GLOBAL: Creditors' Proofs of Claim Due by July 25 AKTIENPOWER JSC: Deadline to File Proofs of Claim Set July 25 ALEXANDER & ASSOCIATES: Claims Filing Period Ends July 25 DOBER TREND-SPORT: Proofs of Claim Filing Deadline is July 25 G-BETON LLC: July 25 Set as Deadline to File Proofs of Claim GENERAL MOTORS: Sets Record Sales in Europe for First Half 2008 MISSION TO PROCESS: Deadline to File Proofs of Claim Set July 25 SOHAMOB LLC: July 25 Set as Deadline to File Proofs of Claim VALENTIN UTZINGER: Proofs of Claim Filing Deadline is July 25 VARIA MED: Creditors Have Until July 25 to File Proofs of Claim VITALFORUM LLC: Creditors' Proofs of Claim Due by July 25 WEMAG LLC: July 25 Set as Deadline to File Proofs of Claim WINTEC TECHNOLOGY: Creditors' Proofs of Claim Due by July 25 U K R A I N E ALKOTRADE LLC: Creditors Must File Claims by July 26 ALPHA LLC: Creditors Must File Claims by July 31 BUILDINGPLAST LLC: Creditors Must File Claims by July 26 FORBS LLC: Creditors Must File Claims by July 26 GRYEGA-S LLC: Creditors Must File Claims by July 26 HERMES LLC: Creditors Must File Claims by July 31 INTERSOYUZ LLC: Claims Filing Deadline Set July 26 ISIGA LLC: Creditors Must File Claims by July 26 LATOUR LLC: Creditors Must File Claims by July 26 MAKO-COMPUTER LLC: Creditors Must File Claims by July 26 MAXIMUS LLC: Creditors Must File Claims by July 26 NAFTOGAZ UKRAINY: Denies Owing Over US$2 Billion to RosUkrEnergo POLESYE LLC: Creditors Must File Claims by July 26 SLAVUTICH LLC: Creditors Must File Claims by July 26 SPUTNIK LLC: Creditors Must File Claims by July 26 TATARBUNARY AGRICULTURAL: Creditors Must File Claims by July 26 TELEGRAND LLC: Creditors Must File Claims by July 26 TREK LLC: Creditors Must File Claims by July 26 VERSION LLC: Creditors Must File Claims by July 26 VKF BIOLOG: Creditors Must File Claims by July 26 U N I T E D K I N G D O M ARC PROJECTS: Brings In Liquidators from Baker Tilly ARDANA BIOSCIENCE: Appoints Administrators from Ernst & Young BROADBAND OFFICE: Taps Joint Administrators from BDO Stoy BUTLER & TANNER: Taps Liquidators from Smith & Williamson BYFLEET SOLNA: Creditors' Meeting Slated for July 23 CHRYSLER LLC: Faces Suit in N.Y. Over Sebring Engines Warranties CONCERTO II: Fitch Affirms 'BB-' Rating on Class D Notes DIPFORD GROUP: Brings In Administrators from Menzies DOT MOBILE: Appoints Liquidators from Smith & Williamson EXODUS MANAGEMENT: Calls In Liquidators from Moore Stephens FCM TECHNOLOGIES: Brings In Liquidators from Tenon Recovery FUSION FILLINGS: Calls In Administrators from Tenon Recovery GLO HIRE: Creditors' Meeting Slated for August 27 H.J. HEINZ: Moody's Assigns Ba1 Rating on Preferred Stock HORNERS MOTOR: Goes Into Administrative Receivership INTERNATIONAL MEDICAL: Puts Two Subsidiaries Into Administration LILYPAD ESTATES: Brings In Joint Administrators from PwC NORTHWORLD LTD: Creditors' Meeting Slated for July 28 PACSCOM LTD: Creditors' Meeting Slated for July 25 PEPPER POST: Appoints Joint Administrators from Baker Tilly QUEBECOR WORLD: Judge Peck Modifies Management Incentive Plan QUEBECOR WORLD: Printing Agreement with Dex Extended to 2015 QUEBECOR WORLD: Receives Conversion Notices for Series 5 Shares QUEBECOR WORLD: Wants Five More KPMG Retention Letters Approved SPECTRUM COLOUR: Appoints Liquidators from Tenon Recovery SUPER AGURI: Goes Into Liquidation; Eyes Sale of Assets WESTON SPIRIT: T. Dixon Leads Liquidation Procedure * Large Companies with Insolvent Balance Sheet ********* =========== F R A N C E =========== CLAIRE'S STORES: Zimmermann Quits as President for North America ---------------------------------------------------------------- Claire's Stores, Inc. disclosed that John A. Zimmermann resigned as President of Claire's North America, effective July 7, 2008, for personal reasons. Starting as an executive trainee in 1981 with John Wanamaker, the Philadelphia, Pennsylvania-based department store, Mr. Zimmermann went on to hold senior merchandising and executive positions with retail chains that included Federated Department Stores, The Children's Place and Bon Marche, Carter Hawley Hale's The Broadway Stores and Contempo Casuals, as well as Bradlees. At Zale Corp., as a Corporate Senior Vice President and President of Zale Canada Company, he led a successful turnaround of the company. In his most recent Zale assignment as President, North America, a 990-store US$1.4 billion jewelry retailer with units in the U.S., Canada and Puerto Rico, he addressed challenging issues that embraced merchandising, sales, marketing and operational improvement. Headquartered in Pembroke Pines, Florida, Claire's Stores Inc. (NYSE: CLE) -- http://www.clairestores.com/-- is a specialty retailer of value-priced jewelry and accessories for girls and young women through its two store concepts: Claire's and Icing. While the latter operates only in North America, Claire's operates worldwide. As of May 3, 2008, Claire's Stores, Inc. operated 3,053 stores in North America and Europe. Claire's Stores Inc. also operates through its subsidiary, Claire's Nippon Co. Ltd., 201 stores in Japan as a 50:50 joint venture with AEON Co. Ltd. The company also franchises 169 stores in the Middle East, Turkey, Russia, South Africa, Poland and Guatemala. * * * As reported in the Troubled Company Reporter on May 6, 2008, Standard & Poor's Ratings Services lowered its corporate credit rating on Claire's Stores Inc. to 'B-' from 'B'. At the same time, S&P lowered the ratings on the company's US$1.65 billion senior secured credit facilities to 'B' from 'B+', its US$600 million senior unsecured notes to 'CCC+' from 'B-', and its US$335 million senior subordinated notes to 'CCC' from 'CCC+'. The outlook is negative. ============= G E R M A N Y ============= ANDRIC MONTAGE: Claims Registration Period Ends July 25 ------------------------------------------------------- Creditors of Andric Montage GmbH have until July 25, 2008 to register their claims with court-appointed insolvency manager Dr. Juergen Spliedt. Claims will be verified at 11:30 a.m. on Sept. 17, 2008 at: The District Court of Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin Germany Creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Juergen Spliedt Uhlandstr. 165/166 10719 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Andric Montage GmbH on April 22, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Andric Montage GmbH Weigandufer 5 A 12045 Berlin Germany AREAL-PLAN GARTEN: Claims Registration Period Ends July 25 ---------------------------------------------------------- Creditors of areal-plan garten-landschaftsbau gmbh have until July 25, 2008 to register their claims with court-appointed insolvency manager Michael Wellstein. Creditors and other interested parties are encouraged to attend the meeting at 10:40 a.m. on Aug. 7, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Kaiserslautern Hall 087 Bahnhofstr. 24 67655 Kaiserslautern 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 Wellstein c/o Gesper, Hermes & Partner GBR, L 11 20-22 68161 Mannheim Germany Tel: 0621/129430 Fax: 0621/152466 The District Court of Kaiserslautern opened bankruptcy proceedings against areal-plan garten-landschaftsbau gmbh on June 17, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: areal-plan garten-landschaftsbau gmbh Attn: Klaus Kretschmann, Manager Schillerstr. 2 67816 Dreisen Germany BHT AUTOMOBILE: Claims Registration Period Ends July 25 ------------------------------------------------------- Creditors of BHT Automobile GmbH have until July 25, 2008, to register their claims with court-appointed insolvency manager Christian Grobstich. Creditors and other interested parties are encouraged to attend the meeting at 2:00 p.m. on Aug. 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 Konstanz Hall 102 First Floor Gerichtstrasse 9 78462 Konstanz 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 Grobstich Bleicherstr. 10 78467 Konstanz Germany The District Court of Konstanz opened bankruptcy proceedings against BHT Automobile GmbH on June 10, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: BHT Automobile GmbH Werner-von-Siemens-Str. 18 78224 Singen Germany BIAG VERWALTUNGS: Claims Registration Period Ends July 28 --------------------------------------------------------- Creditors of BIAG Verwaltungs GmbH have until July 28, 2008, to register their claims with court-appointed insolvency manager Dr. Juergen Wallner. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Aug. 27, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Leipzig Hall 145 Bernhard Goering Strasse 64 04275 Leipzig 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. Juergen Wallner Karl-Heine-Strasse 25b 04229 Leipzig Germany Tel: 0341-2534760 Fax: 0341-2534761 The District Court of Leipzig opened bankruptcy proceedings against BIAG Verwaltungs GmbH on July 13, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: BIAG Verwaltungs GmbH Attn: Rainer Rudolph, Manager Pereser Strasse 2 04575 Neukieritzsch OT Lippendorf Germany CAR-D VERTRIEBS: Claims Registration Period Ends July 25 -------------------------------------------------------- Creditors of Car-d Vertriebs-GmbH have until July 25, 2008, to register their claims with court-appointed insolvency manager Severin Kiesl. Creditors and other interested parties are encouraged to attend the meeting at 3:00 p.m. on Sept. 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 Muehldorf a. Inn Hall 112 Innstrasse 1 Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Severin Kiesl Stollstrasse 5 83022 Rosenheim Germany The District Court of Muehldorf a. Inn opened bankruptcy proceedings against Car-d Vertriebs-GmbH on June 5, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Car-d Vertriebs-GmbH Attn: Marcus Joch and Dr. Wulf Hannes Heisler, Managers Berliner Strasse 16 84478 Waldkraiburg Germany DL SOLARTEC: Claims Registration Period Ends July 25 ---------------------------------------------------- Creditors of DL Solartec Thueringen GmbH have until July 25, 2008, to register their claims with court-appointed insolvency manager Michael Bleek. Creditors and other interested parties are encouraged to attend the meeting at 10:00 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 Jena Hall 105 Justizzentrum Meiningen Lindenallee 15 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 Bleek Andreasstr. 39 99084 Erfurt Germany The District Court of Jena opened bankruptcy proceedings against DL Solartec Thueringen GmbH on June 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: DL Solartec Thueringen GmbH Zwick 48-50 98590 Wernshausen Germany DOHM GMBH: Claims Registration Period Ends July 25 -------------------------------------------------- Creditors of Dohm GmbH have until July 25, 2008, to register their claims with court-appointed insolvency manager Rainer Emmer. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Aug. 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 Tuebingen Hall 208 Second Floor Branch Office Schulberg 14 72074 Tuebingen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Rainer Emmer Im Unterhof 8 72770 Reutlingen Germany Tel: 0700/287636637 Fax: 0700/2878636637 The District Court of Tuebingen opened bankruptcy proceedings against Dohm GmbH on June 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Dohm GmbH Blumenstr. 31 72127 Kusterdingen Germany EAST STAR: Claims Registration Period Ends July 25 -------------------------------------------------- Creditors of East Star GmbH have until July 25, 2008, to register their claims with court-appointed insolvency manager Thomas Lissner. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Aug. 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 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: Thomas Lissner Schillerstr. 20 49074 Osnabrueck Germany Tel: (0541) 33 8500 Fax: (0541) 33 850-50 The District Court of Osnabrueck opened bankruptcy proceedings against East Star GmbH on June 3, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: East Star GmbH Moeserstrasse 35 49074 Osnabrueck Germany EBA SCHOOL: Claims Registration Period Ends July 28 --------------------------------------------------- Creditors of eba School of eBusiness GmbH have until July 28, 2008, to register their claims with court-appointed insolvency manager Stephan Neubauer. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Aug. 25, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Hamburg Hall B 405 Fourth Floor Annex Civil Justice Bldg. Sievkingplatz 1 20355 Hamburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Stephan Neubauer Spitalerstrasse 4 20095 Hamburg Germany The District Court of Hamburg opened bankruptcy proceedings against eba School of eBusiness GmbH on June 10, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: eba School of eBusiness GmbH Dr. Werner Sauter, Manager Hasslerstrasse 52 89077 Ulm Germany EISEN-DATTLER: Claims Registration Period Ends July 25 ------------------------------------------------------ Creditors of Eisen-Dattler GmbH have until July 25, 2008, to register their claims with court-appointed insolvency manager Rainer J. Peters. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Sept. 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 Loarrach Room 2.21 Hall 5 2nd OG Bahnhofstr. 4a 79539 Loarrach Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Rainer J. Peters Lindenstr. 8 79379 Muellheim Germany Tel: 07631/16877 The District Court of Loarrach opened bankruptcy proceedings against Eisen-Dattler GmbH on June 24, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Eisen-Dattler GmbH Attn: Heidi Malnati, Manager Schwarzwaldstr. 31 79539 Loerrach Germany F.A.C.H. BAU: Claims Registration Period Ends July 25 ----------------------------------------------------- Creditors of F.A.C.H. Bau GmbH i.L. have until July 25, 2008, to register their claims with court-appointed insolvency manager Dr. Detlef Ruediger Beckmann. Creditors and other interested parties are encouraged to attend the meeting at 1:30 p.m. on Aug. 12, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Cottbus Hall 210 First Floor Gerichtsplatz 2 03046 Cottbus Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Detlef Ruediger Beckmann Lindenallee 33 14050 Berlin Germany The District Court of Cottbus opened bankruptcy proceedings against F.A.C.H. Bau GmbH i.L. on June 23, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: F.A.C.H. Bau GmbH i.L. Muskauer Strasse 43 03130 Tschernitz Germany FACH BAU: Claims Registration Period Ends July 24 ------------------------------------------------- Creditors of Fach- Bau- Sanierung Mueller und Co. GmbH have until July 24, 2008 to register their claims with court- appointed insolvency manager Rolf Nacke. Claims will be verified at 9:20 a.m. on Sept. 19, 2008 at: The District Court of Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin German Creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Rolf Nacke Gross-Berliner Damm 73 c 12487 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Fach- Bau- Sanierung Mueller und Co. GmbH on April 24. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Fach- Bau- Sanierung Mueller und Co. GmbH Auguste-Viktoria-Allee 12-13 13403 Berlin Germany FINE FOOD: Claims Registration Period Ends July 28 -------------------------------------------------- Creditors of Fine Food GmbH have until July 28, 2008, to register their claims with court-appointed insolvency manager Dr. Gideon Boehm. Creditors and other interested parties are encouraged to attend the meeting at 12:00 p.m. on Sept. 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 Pinneberg Hall 5 Station Route 17 25421 Pinneberg 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. Gideon Boehm Bachstrasse 85 a 22083 Hamburg Germany The District Court of Pinneberg opened bankruptcy proceedings against Fine Food GmbH on July 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Fine Food GmbH Attn: Carsten Schneider, Manager Eythraer Weg 22 04249 Leipzig Germany GNEISENAUSTRASSE 35: Claims Registration Period Ends July 24 ------------------------------------------------------------ Creditors of Gneisenaustrasse 35 KG CONBA Grundstuecksverwaltungs-GmbH & Co. have until July 24, 2008 to register their claims with court-appointed insolvency manager Prof. Rolf Rattunde. Claims will be verified at 9:00 a.m. on Sept. 18, 2008 at: The District Court of Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin Germany Creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Prof. Rolf Rattunde Kurfuerstendamm 26 a 10719 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Gneisenaustrasse 35 KG CONBA Grundstuecksverwaltungs-GmbH & Co. on April 30, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Gneisenaustrasse 35 KG CONBA Grundstuecksverwaltungs-GmbH & Co. Ebersstr. 61 10827 Berlin Germany HAASE BETEILIGUNGS: Claims Registration Period Ends July 28 ----------------------------------------------------------- Creditors of Haase Beteiligungs GmbH have until July 28, 2008, to register their claims with court-appointed insolvency manager Rainer M. Bahr. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Aug. 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 114 Am 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: Rainer M. Bahr Prinzenstr. 14 30159 Hannover Germany Tel: 0511/85030580 Fax: 0511/85030588 E-mail: Baehr@Hermann-Law.com The District Court of Gifhorn opened bankruptcy proceedings against Haase Beteiligungs GmbH on June 17, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Haase Beteiligungs GmbH Ilseder Huette 10 31241 Ilsede Germany Attn: Thomas Haase, Manager Soltgrund 19 31188 Holle Germany IKB DEUTSCHE: Supervisory Board Approves 2007 Annual Accounts ------------------------------------------------------------- The Supervisory Board of the IKB Deutsche Industriebank AG has approved the annual accounts the company's and the consolidated financial statements. The complete annual report of the IKB Group and the annual accounts and management report of IKB AG will be published on July 21, 2008. About IKB Deutsche Headquartered in Dusseldorf, Germany, IKB Deutsche Industriebank AG -- http://www.ikb.de/-- provides medium-sized companies with long-term financing. The bank operates in several German locations, as well as branches in the United Kingdom, Luxembourg, Spain and France. IKB had previously invested in securitized loans on the US market for subprime mortgages, which are now almost worthless. This resulted in a deep-seated crisis within the bank, pushing it on the brink of bankruptcy. * * * Moody's Investors Service currently rates IKB Deutsche Industriebank AG's bank financial strength at E; subordinated debt at Ba2; junior subordinated securities at Ca and hybrid capital instruments eligible for Tier 1 capital and the preferred securities of IKB Funding Trust I & II at Caa3. The ratings, which were downgraded to their current level in April 2008, have stable outlook. IKB DEUTSCHE: Supervisory Board Extends Management Board Mandate ---------------------------------------------------------------- The Supervisory Board of the IKB Deutsche Industriebank AG has resolved these: Dr. Guenther Braunig, appointed as Chairman of the Board of Managing Directors originally for a one year period to July 29, 2008, will remain Chairman until Oct 15, 2008. The Board appointment of Dr. Dieter Glueder (52), which was also originally set to run for one year (to July 29, 2008), has also been extended to Oct. 15, 2008. Dr. Glueder has IKB Board responsibility for Portfolio Investments, Treasury and Financial Markets, as well as for the Structured Financing segment and the Economics department. About IKB Deutsche Headquartered in Dusseldorf, Germany, IKB Deutsche Industriebank AG -- http://www.ikb.de/-- provides medium-sized companies with long-term financing. The bank operates in several German locations, as well as branches in the United Kingdom, Luxembourg, Spain and France. IKB had previously invested in securitized loans on the US market for subprime mortgages, which are now almost worthless. This resulted in a deep-seated crisis within the bank, pushing it on the brink of bankruptcy. * * * Moody's Investors Service currently rates IKB Deutsche Industriebank AG's bank financial strength at E; subordinated debt at Ba2; junior subordinated securities at Ca and hybrid capital instruments eligible for Tier 1 capital and the preferred securities of IKB Funding Trust I & II at Caa3. The ratings, which were downgraded to their current level in April 2008, have stable outlook. JUNG FORSTSERVICE: Claims Registration Period Ends July 28 ---------------------------------------------------------- Creditors of Jung Forstservice GmbH have until July 28, 2008, to register their claims with court-appointed insolvency manager Angelika Geil. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Aug. 12, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Freiburg Room 303 Holzmarkt 2 79098 Freiburg i.Br. Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Angelika Geil Kaiser-Joseph-Str. 255 79098 Freiburg Germany Tel: 0761/26828 Fax: 0761/2923635 The District Court of Freiburg opened bankruptcy proceedings against Jung Forstservice GmbH on June 16, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Jung Forstservice GmbH Att: Paul Jung, Manager Forsthausstr. 7 79331 Teningen Germany KUENSTLERTREFF MIROE: Claims Registration Period Ends July 28 ------------------------------------------------------------- Creditors of Kuenstlertreff Miroe GmbH have until July 28, 2008, to register their claims with court-appointed insolvency manager Frank Dreyer. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Aug. 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 Tostedt Meeting Room I Area CE.02 Linden 23 21255 Tostedt 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: Frank Dreyer Hamburger Str. 208 22083 Hamburg Germany Tel: 040/27148116 Fax: 040/27148136 The District Court of Tostedt opened bankruptcy proceedings against Kuenstlertreff Miroe GmbH on June 3, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Kuenstlertreff Miroe GmbH Hauptstrasse 37 21266 Jesteburg Germany Attn: Elisabeth Luebberstedt-Hobohm, Manager Rondahler Weg 33 21376 Salzhausen Germany VS2008 GMBH: Claims Registration Period Ends July 22 ---------------------------------------------------- Creditors of VS2008 GMBH have until July 22, 2008 to register their claims with court-appointed insolvency manager Thomas Steger. Creditors and other interested parties are encouraged to attend the meeting at 8:45 a.m. on July 25, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Bonn Meeting Hall W 1.26 First Floor Wilhelmstr. 23 53111 Bonn Germany The Court will verify the claims set out in the insolvency manager's report at 9:40 a.m. on Aug. 22, 2008, 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 Steger Koelnstrasse 135 53757 Sankt Augustin Germany Tel: 02241/90600 Fax: 02241/906090 The District Court of Bonn opened bankruptcy proceedings against VS2008 GMBH on June 27, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: VS2008 GMBH Attn: Patrick Stolle, Manager Am Hof 26a 53113 Bonn Germany ========= I T A L Y ========= ALITALIA SPA: Adviser Plans Administration Under Amended Law ------------------------------------------------------------ Alitalia S.p.A. will be placed into administration under an amended reorganization as part of its rescue plan, Thomson Financial says citing a Milano Finanza report. According to Intesa Sanpaolo S.p.A.'s plan known as Fenice, MF relates, the Italian government will amend a law used to reorganized Parmalat S.p.A. The government tapped Intesa Sanpaolo as adviser for the sale of its 49.9% stake in Alitalia. The law, written by former Industry Minister Antonio Marzano, allows large companies to seek protection from creditors and to be placed in emergency administration. The law would allow Alitalia's core business to be separated from its debt and placed them under a new company. Under the Fenice plan, the oldco will shoulder the cost of the planned 5,000 job cuts and take on Alitalia's EUR1.1 billion debt -- including the recent EUR300 million loan from the government and a EUR750 million convertible bond, MF reports. The newco, meanwhile, will inherit Alitalia's fleet and real estate assets as well as the remaining employees and up to EUR500 million in debt, MF says. It would also have EUR800 million in fresh cash and receive around EUR300 million in assets from AirOne S.p.A. A consortium of businessmen including Roberto Colaninno, Gilberto Benetton and the De Agostini group will acquire a minority stake in the newco, with possibility of playing a greater role. Intesa Sanpaolo has until Aug. 10 to present Alitalia's rescue plan to the government. About Alitalia Based in Rome, 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. PARMALAT SPA: Allocated Shares Hike Equity Capital -------------------------------------------------- Parmalat S.p.A. communicates that, following the allocation of shares to creditors of the Parmalat Group, the subscribed and fully paid up share capital has now been increased by EUR142,627 to EUR1,667,640,951 from EUR1,667,498,324. The share capital increase is due to exercise of 107,236 warrant and to the assignation of 35,391 shares. According to the company, 28,746,739 shares representing approximately 1.7% of the share capital are still in a deposit account c/o Parmalat S.p.A., of which: * 13,203,874 or 0.8% of the share capital, registered in the name of individually identified commercial creditors, are still deposited in the intermediary account of Parmalat S.p.A. centrally managed by Monte Titoli (compared with 13,222,215 shares as at May 30, 2008); * 15,542,865 or 0.9% of the share capital registered in the name of the Foundation, called Fondazione Creditori Parmalat, of which: -- 120,000 shares representing the initial share capital of Parmalat S.p.A. (unchanged); -- 15,422,865 or 0,9% of the share capital that pertain to currently undisclosed creditors (compared with 16,667,668 shares as at May 30, 2008). About Parmalat Headquartered in Milan, Italy, Parmalat S.p.A. -- http://www.parmalat.net/-- sells nameplate milk products that can be stored at room temperature for months. It also has about 40 brand product lines, which include yogurt, cheese, butter, cakes and cookies, breads, pizza, snack foods and vegetable sauces, soups and juices. The company's U.S. operations filed for chapter 11 protection on Feb. 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139). Gary Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal & Manges LLP, represent the Debtors. When the U.S. Debtors filed for bankruptcy protection, they reported more than US$200 million in assets and debts. The U.S. Debtors emerged from bankruptcy on April 13, 2005. Parmalat S.p.A. and its Italian affiliates filed separate petitions for Extraordinary Administration before the Italian Ministry of Productive Activities and the Civil and Criminal District Court of the City of Parma, Italy on Dec. 24, 2003. Dr. Enrico Bondi was appointed Extraordinary Commissioner in each of the cases. The Parma Court has declared the units insolvent. On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No. 04-14268, in the United States Bankruptcy Court for the Southern District of New York. Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat Capital Finance Ltd., and Food Holdings Ltd. Dairy Holdings and Food Holdings are Cayman Island special-purpose vehicles established by Parmalat S.p.A. The Finance Companies are under separate winding up petitions before the Grand Court of the Cayman Islands. Gordon I. MacRae and James Cleaver of Kroll (Cayman) Ltd. serve as Joint Provisional Liquidators in the cases. On Jan. 20, 2004, the Liquidators filed Sec. 304 petition, Case No. 04-10362, in the United States Bankruptcy Court for the Southern District of New York. In May 2006, the Cayman Island Court appointed Messrs. MacRae and Cleaver as Joint Official Liquidators. Gregory M. Petrick, Esq., at Cadwalader, Wickersham & Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon, Herlands Randolph, represent the Finance Companies in the Sec. 304 case. The Honorable Robert D. Drain presides over the Parmalat Debtors' U.S. cases. On June 21, 2007, the U.S. Court granted Parmalat permanent injunction. PARMALAT SPA: Board to Review Interim Data July 30, 2008 -------------------------------------------------------- Parmalat S.p.A. communicates that the Board Meeting for the discussion of the preliminary data as at June 30, 2008, will be held on July 30, 2008 instead of July 25, 2008, as initially planned. About Parmalat Headquartered in Milan, Italy, Parmalat S.p.A. -- http://www.parmalat.net/-- sells nameplate milk products that can be stored at room temperature for months. It also has about 40 brand product lines, which include yogurt, cheese, butter, cakes and cookies, breads, pizza, snack foods and vegetable sauces, soups and juices. The company's U.S. operations filed for chapter 11 protection on Feb. 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139). Gary Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal & Manges LLP, represent the Debtors. When the U.S. Debtors filed for bankruptcy protection, they reported more than US$200 million in assets and debts. The U.S. Debtors emerged from bankruptcy on April 13, 2005. Parmalat S.p.A. and its Italian affiliates filed separate petitions for Extraordinary Administration before the Italian Ministry of Productive Activities and the Civil and Criminal District Court of the City of Parma, Italy on Dec. 24, 2003. Dr. Enrico Bondi was appointed Extraordinary Commissioner in each of the cases. The Parma Court has declared the units insolvent. On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No. 04-14268, in the United States Bankruptcy Court for the Southern District of New York. Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat Capital Finance Ltd., and Food Holdings Ltd. Dairy Holdings and Food Holdings are Cayman Island special-purpose vehicles established by Parmalat S.p.A. The Finance Companies are under separate winding up petitions before the Grand Court of the Cayman Islands. Gordon I. MacRae and James Cleaver of Kroll (Cayman) Ltd. serve as Joint Provisional Liquidators in the cases. On Jan. 20, 2004, the Liquidators filed Sec. 304 petition, Case No. 04-10362, in the United States Bankruptcy Court for the Southern District of New York. In May 2006, the Cayman Island Court appointed Messrs. MacRae and Cleaver as Joint Official Liquidators. Gregory M. Petrick, Esq., at Cadwalader, Wickersham & Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon, Herlands Randolph, represent the Finance Companies in the Sec. 304 case. The Honorable Robert D. Drain presides over the Parmalat Debtors' U.S. cases. On June 21, 2007, the U.S. Court granted Parmalat permanent injunction. =================== K A Z A K H S T A N =================== ADILET ER: Creditors Must File Claims by August 26 -------------------------------------------------- The Specialized Inter-Regional Economic Court of Pavlodar has declared LLP Adilet Er Ltd. declared insolvent. Creditors have until Aug. 26, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Pavlodar Gagarin Str. 18-49 Pavlodar Kazakhstan Tel: 8 (7182) 47-11-85 ALLIANCE TRANSIT: Claims Filing Deadline Slated for August 26 ------------------------------------------------------------- The Specialized Inter-Regional Economic Court of Astana has declared LLP Trade-Industrial Company Alliance Transit insolvent. Creditors have until Aug. 26, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Astana Respublika ave. 1-40 Astana Kazakhstan Tel: 8 (7172) 21-72-84 EK KONSUL: Claims Filing Period Ends August 26 ---------------------------------------------- The Specialized Inter-Regional Economic Court of Pavlodar has declared LLP Ek Konsul insolvent. Creditors have until Aug. 26, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Pavlodar Gagarin Str. 18-49 Pavlodar Kazakhstan Tel: 8 (7182) 47-11-85 ENERGO LEP: Creditors' Proofs of Claim Due by August 26 ------------------------------------------------------- LLP Energo LEP has declared insolvency. Creditors have until Aug. 26, 2008, to submit written proofs of claims to: LLP Energo LEP Ryabinovy Side Street, 5 Rudny Kostanai Kazakhstan INFECOM ASIA: Claims Registration Period Ends August 22 ------------------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty has declared LLP Infecom Asia insolvent. Creditors have until Aug. 22, 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 INTER EKSIM: Creditors Must File Claims by Aug. 26 -------------------------------------------------- The Specialized Inter-Regional Economic Court of Astana has declared LLP Inter Eksim insolvent. Creditors have until Aug, 26, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Astana Respublika ave. 1-40 Astana Kazakhstan Tel: 8 (7172) 21-72-84 KAZMARKET-S LLP: Claims Filing Deadline Slated for August 26 ------------------------------------------------------------ The Specialized Inter-Regional Economic Court of Pavlodar has declared LLP Kazmarket-S insolvent. Creditors have until Aug, 26, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Pavlodar Gagarin Str. 18-49 Pavlodar Kazakhstan Tel: 8 (7182) 47-11-85 KURYLYS-EXPRESS LLP: Claims Filing Period Ends August 22 -------------------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty has declared LLP Kurylys-Express insolvent. Creditors have until Aug, 22, 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 MUNAI TRANS: Creditors' Proofs of Claim Due by August 26 -------------------------------------------------------- The Specialized Inter-Regional Economic Court of Astana has declared LLP Munai Trans Service-XXI insolvent. Creditors have until Aug, 26, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Astana Respublika ave. 1-40 Astana Kazakhstan Tel: 8 (7172) 21-72-84 NEW PERFECT: Creditors Must File Claims by August 22 ---------------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty has declared LLP New Perfect insolvent. Creditors have until Aug. 22, 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 PROMRESOURCE-PV LLP: Claims Registration Period Ends August 26 -------------------------------------------------------------- The Specialized Inter-Regional Economic Court of Pavlodar has declared LLP Promresource-Pv insolvent. Creditors have until Aug, 26, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Pavlodar Gagarin Str. 18-49 Pavlodar Kazakhstan Tel: 8 (7182) 47-11-85 SAMAL LTD: Claims Filing Deadline Slated for August 26 ------------------------------------------------------ The Specialized Inter-Regional Economic Court of Astana has declared LLP Samal Ltd insolvent. Creditors have until Aug. 26, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Astana Respublika ave. 1-40 Astana Kazakhstan Tel: 8 (7172) 21-72-84 SIB PHARM-ALMATY: Claims Filing Deadline Slated for August 22 ------------------------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty has declared CJSC Sib Pharm-Almaty insolvent. Creditors have until Aug, 22, 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 TECHNOSERVICE-2030 LLP: Claims Filing Period Ends August 22 ----------------------------------------------------------- The Specialized Inter-Regional Economic Court of Akmola has declared LLP Technoservice-2030 insolvent. Creditors have until Aug. 22, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Akmola Tel: 8 (7162) 25-79-32 Room 228 Auelbekov Str. 139a Kokshetau Akmola Kazakhstan =================== K Y R G Y Z S T A N =================== SUNSHINE CENTURY: Creditors Must File Proofs of Claim by Aug. 27 ---------------------------------------------------------------- LLC Sunshine Century Ltd. has declared insolvency. Creditors have until Aug. 27, 2008 to submit written proofs of claim to: LLC Sunshine Century Ltd. Pamirskaya Str. 40 Osh Kyrgyzstan ===================== N E T H E R L A N D S ===================== SENSATA TECHNOLOGIES: Moody's Cuts Ratings, Junks Senior Notes -------------------------------------------------------------- Moody's Investors Service lowered the ratings of Sensata Technologies B.V. corporate family rating to B3 from B2; probability of default to B3 from B2; senior secured credit facility to B1 from Ba3; senior unsecured notes to Caa1 from B3; and senior subordinated notes to Caa2 from Caa1. These rating actions reflect the company's sustained high leverage levels and modest debt service metrics, and the potential for weaker economic trends to further pressure the company's operating performance over the coming year. The company's speculative grade liquidity rating remains at SGL-2. The outlook is changed to stable from negative. The downgrade of the company's corporate family rating to B3 from B2 reflects the lack of deleveraging as the company continues to face challenging economic environments. Key leverage metrics through the 12 months of March 31, 2008 were: debt/EBITDA near 9.0x times and EBITA/interest of 1.2 times. The high leverage results from the initial acquisition of Sensata by Bain Capital, LLC in April 2006 augmented by a series of debt-financed acquisitions since then. Moody's had expected some level of debt repayment beyond mandatory term loan amortization, which would have partially offset some of the negative impact from foreign exchange translation on the company's euro-denominated debt. The strong euro relative to the U.S. dollar is resulting in higher debt balances on Sensata's consolidated balance sheet adding to the high leverage. This leveraged capital structure could hinder the company's financial flexibility as some of the company's end markets face increasing economic pressures. Additionally, the slowing U.S. economy is negatively impacting the domestic housing market, a key source of revenue for its controls business. While a significant portion of Sensata's business is derived from sensors used on automobiles, the company is less affected by declining auto sales than traditional auto parts suppliers because of the increasing content of electronics on vehicles. These weaknesses are balanced against the company's good liquidity, global presence, and growing exposure to several other end markets including aerospace and telecommunications. The stable outlook reflects Sensata's good liquidity and ability to generate free cash flow as it faces a slowing U.S. economy, which is negatively impacting some of its key end markets. These ratings/assessments were affected by this action: -- Corporate family rating lowered to B3 from B2; -- Probability of default rating lowered to B3 from B2; -- Senior secured credit facility downgraded to B1 (LGD2, 28%) from Ba3 (LGD2, 29%); -- US$450 million senior unsecured notes due 2014 downgraded to Caa1 (LGD5, 73%) from B3 (LGD5, 75%); and, -- EUR245 million senior subordinate notes due 2016 downgraded to Caa2 (LGD6, 90%) from Caa1 (LGD6, 91%). -- The company's speculative grade liquidity rating of SGL-2 is unchanged. Headquartered in Attleboro, Massachusetts and incorporated under the laws of The Netherlands, Sensata Technologies B.V. designs and manufactures sensors and electronic controls. Sensata is a global designer, manufacturer, and marketer of customized and engineered sensors and control products. Revenues for the 12 months ended March 31, 2008 totaled about US$1.5 billion. =========== R U S S I A =========== A-B-M TRAKS: Creditors Must File Claims by July 17 -------------------------------------------------- Creditors of LLC A-B-M Traks (OGRN 1055907329488) have until July 17, 2008, to submit proofs of claim to: K. Goncharov Temporary Insolvency Manager Post User Box 345 Post Office 9 Lysva 618900 Perm Russia The Arbitration Court of Perm commenced bankruptcy supervision procedure on the company. The case is docketed under Case No. A50-3785/2008-B6. The Court is located at: The Arbitration Court of Perm Lunacharskogo Str. 3 Perm Russia The Debtor can be reached at: LLC A-B-M Traks Kosmonavtov Sh. 316 614065 Perm Russia AGRO-MEL-TRANS: Court Starts Bankruptcy Supervision Procedure ------------------------------------------------------------- The Arbitration Court of Tyumen commenced bankruptcy supervision procedure on CJSC Agro-Mel-Trans. The case is docketed under Case No. A70-5076/3-2007. The Temporary Insolvency Manager is: E. Sanzharevskiy Nogradskaya Str. 22-96 Kemerovo Russia The Court is located at: The Arbitration Court of Tyumen Khokhryakova Str. 77 627000 Tyumen Russia The Debtor can be reached at: CJSC Agro-Mel-Trans Myasokombinatskiy Proezd 5 Ishim Tyumen Russia AMUR OJSC: Asset Sale Slated for July 25 ---------------------------------------- The insolvency manager and bidding organizer for OJSC Amur, will open a public auction for the company's properties at 2:00 p.m. on July 25, 2008, at: OJSC Amur Moskovskaya Str. 49 Partizansk Primorye Russia The company has set a RUR11,800,000 starting price for the assets in auction. Interested participants have until July 17, 2008, to deposit an amount equivalent to 2% of the starting price to: OJSC Amur Settlement Account 40702810050180103563 Correspondent Account 30101810100000000602 BIK 040510602 Nakhodkinskiy OSB 7151 Nakhdka Russia Bidding documents must be submitted at 4:00 p.m. on July 23, 2008 at: Insolvency Manager Apt. 2 Parkovaya Str. 17 Spassk-Dalniy Primorye Russia Tel: (42352) 2-26-58, 8-902-557-82-92 The Debtor can be reached at: OJSC Amur Moskovskaya Str. 49 Partizansk Primorye Russia BREAD ILANSKIY: Creditors Must File Claims by August 17 ------------------------------------------------------- Creditors of OJSC Bread Ilanskiy have until Aug. 17, 2008, to submit proofs of claim to: A. Timoshkevich Insolvency Manager Post User Box 16795 662074 Krasnoyarsk-74 Russia The Arbitration Court of Krasnoyarsk commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A33-15411/2007. The Court is located at: The Arbitration Court of Krasnoyarsk Lenina Str. 143 660021 Krasnoyarsk Russia The Debtor can be reached at: OJSC Bread Ilanskiy Shkolnaya Str. 5 Ilanskiy 663800 Krasnoyarsk Russia DOMINO CJSC: Court Starts Bankruptcy Supervision Procedure ---------------------------------------------------------- The Arbitration Court of Chelyabinsk commenced bankruptcy supervision procedure on CJSC Domino (TIN 7448084278). The case is docketed under Case No. A76-404/2008-36-9. The Temporary Insolvency Manager is: P. Bykov Room 2 Solnechnaya Str. 9 Zlatoust 456201 Chelyabinsk Russia Tel: 8-3513-69-86-00 The Court is located at: The Arbitration Court of Chelyabinsk Vorovskogo Str. 2 454091 Chelyabinsk Russia The Debtor can be reached at: CJSC Domino Moldavskaya Str. 16 Chelyabinsk Russia DOOR MANUFACTURE: Creditors Must File Claims by August 17 --------------------------------------------------------- Creditors of LLC Door Manufacture have until Aug. 17, 2008, to submit proofs of claim to: G. Kayumova Insolvency Manager Vilyamsa Str. 4a-8 614030 Perm Russia Tel/Fax: (342)273-1382 The Arbitration Court of Perm will convene at 2:15 p.m. on Nov. 7, 2008, to hear the bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A50-15683/2007-B1. The Court is located at: The Arbitration Court of Perm Lunacharskogo Str. 3 Perm Russia The Debtor can be reached at: LLC Door Manufacture Popovka Kungurskiy Perm Russia KAMCHAT-RYB-SPETS-STROY: Creditors Must File Claims by August 17 ---------------------------------------------------------------- Creditors of OJSC Kamchat-Ryb-Spets-Stroy (TIN 4101024710) have until Aug. 17, 2008, to submit proofs of claim to: A. Toboev Insolvency Manager Post User Box 11 683030 Petropavlovsk-Kamchatskiy Russia The Arbitration Court of Kamchatka commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A24-6640/2006. The Debtor can be reached at: OJSC Kamchat-Ryb-Spets-Stroy Transportnyj Tupik 1-a 683024 Petropavlovsk-Kamchatskiy Russia LIGHT LLC: Creditors Must File Claims by July 17 ------------------------------------------------ Creditors of LLC Light have until July 17, 2008, to submit proofs of claim to: O. Zakharenko Temporary Insolvency Manager Apt. 14 Chernykh Str. 11 Prokopyevsk 653009 Kemerovo Russia The Arbitration Court of Kemerovo will convene at 1:30 p.m. on Oct. 16, 2008, to hear the company's bankruptcy supervision procedure. The case is docketed under Case No. A27-4350/2008-4. The Court is located at: The Arbitration Court of Kemerovo Krasnaya Str. 8 Kemerovo Russia The Debtor can be reached at: LLC Light Stroiteley Pr. 35-1 Prokopyevsk 653050 Kemerovo Russia METAL-SNAB-URAL: Creditors Must File Claims by July 17 ------------------------------------------------------ Creditors of LLC Metal-Snab-Ural have until July 17, 2008, to submit proofs of claim to: N. Berdyugina Insolvency Manager Post User Box 8213 454084 Chelyabinsk Russia The Arbitration Court of Chelyabinsk commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A76-20682/07-60-286. The Court is located at: The Arbitration Court of Chelyabinsk Vorovskogo Str. 2 454091 Chelyabinsk Russia The Debtor can be reached at: LLC Metal-Snab-Ural Kharlova Str. 9 Chelyabinsk Russia MOBILE-TRANSPORT: Kirov Bankruptcy Hearing Slated for Sept. 2 ------------------------------------------------------------- The Arbitration Court of Kirov will convene on Sept. 2, 2008, to hear the bankruptcy supervision procedure on LLC Mobile- Transport. The case is docketed under Case No. A28-2371/ 2008-83/10. The Temporary Insolvency Manager is: A. Boltrushevich Lenina Pr. 51-19 Berezniki 618400 Perm Russia The Court is located at: The Arbitration Court of Kirov K-Libknekhta Str. 102 610017 Kirov Russia The Debtor can be reached at: LLC Mobile-Transport Lepse Str. 33 610044 Kirov Russia PLOTINKA CJSC: Creditors Must File Claims by August 17 ------------------------------------------------------ Creditors of CJSC Plotinka have until Aug. 17, 2008, to submit proofs of claim to: A. Khokhlov Insolvency Manager Post User Box 58 Bor 606440 Nizhniy Novgorod Russia The Arbitration Court of Nizhniy Novgorod commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A43-31041/2007-27-345. The Court is located at: The Arbitration Court of Nizhniy Novgorod Kremlin 9 603082 Nizhniy Novgorod Russia The Debtor can be reached at: CJSC Plotinka Plotinka Borskiy Nizhniy Novgorod Russia ROSA KUZBASS: Creditors Must File Claims by August 17 ----------------------------------------------------- Creditors of LLC Rosa Kuzbass have until Aug. 17, 2008, to submit proofs of claim to: O. Zakharenko Insolvency Manager Chernykh Str. 11-14 Prokopyevsk 653009 Kemerovo Russia The Arbitration Court of Kemerovo commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A27-11021/2007-4. The Court is located at: The Arbitration Court of Kemerovo Krasnaya Str. 8 Kemerovo Russia The Debtor can be reached at: LLC Rosa Kuzbass Komissarovskaya Str. 17 Prokopyevsk 653000 Kemerovo Russia SISTEMA JSFC: Names Maxim Uvarov as Binnofarm Unit Chief -------------------------------------------------------- Sistema JSFC has appointed Maxim Uvarov as General Manager of CJSC Binnofarm, its pharmaceutical subsidiary. Mr. Uvarov was previously the Executive Director of Sistema's, Strategy and Development Unit. Alexander Bakhutashvili, the former General Manager, is appointed as President of Binnofarm. Mr. Uvarov will focus on managing the operations of the pharmaceutical business division and will be responsible for creating and implementing a new strategy and business development program. Mr. Bakhutashvil, one of the founders of Binnofarm who contributed a lot into its formation, will concentrate on the implementation of R&D projects. "Leadership in managing our portfolio companies is one of the key elements in achieving the "5*5>25" formula," Leonid Melamed, President and Chief Executive Officer of Sistema, commented. "The new management appointments in non-public companies are part of a restructuring effort aimed at further increasing the efficiency of these businesses. We are confident that Maxim Uvarov's experience, which has been demonstrated in the strategic development of the pharmaceutical healthcare businesses of Sistema, will assist in strengthening Binnofarm's market position." About Sistema Headquartered in Moscow, Russia, Sistema JSFC -- http://www.sistema.com/-- develops and manages market- leading businesses in selected service-based industries, including telecommunications, technology, insurance, banking, real estate, retail and media. * * * Sistema JSFC currently carries a Ba3 long-term corporate family rating and a B2 senior unsecured debt rating from Moody's, with positive outlook. The company also carries Standard & Poor's BB- long-term foreign and local issuer credit ratings. S&P said the outlook is negative. Sistema JSFC carries BB- Issuer Default rating from Fitch, which said the outlook is stable. TATNEFT OAO: Hikes Crude Output in Fist Half 2008 ------------------------------------------------- OAO Tatneft's crude oil output for the fist half of 2008 increased 0.7% year-on-year to 13 million tons or 95.6 million bbl, RIA Novosti reports. The company's crude oil output for June 2008 increased 0.4% year-on-year to 2.2 million tons or 16 million bbl. About Tatneft Headquartered in Tatartan, Russia, OAO Tatneft -- http://www.tatneft.ru/eng/-- explores for, produces, refines and markets crude oil. The company operates a chain of retain gasoline filling stations and exports some of its petrochemical products to former Soviet Union countries and Europe. * * * OAO Tatneft continues to carry Fitch Ratings' B+ Issuer Default rating. Its Short-Term rating stands at B. Fitch said the outlook is positive. TATNEFT OAO: Fitch Lifts Issuer Default Rating to BB from B+ ------------------------------------------------------------ Fitch Ratings has upgraded OAO Tatneft's Long-term foreign currency Issuer Default rating to 'BB' from 'B+'. Following the upgrade, the Outlook has been changed to Stable from Positive. In addition, its Short-term foreign currency IDR is affirmed at 'B'. The upgrade reflects Tatneft's improved corporate governance profile, following the resolution of critical internal control weaknesses. This is demonstrated by the timely release of annual financial statements, and management's commitment to improve disclosure by commencing quarterly financial reporting. The upgrade is also based on Tatneft's demonstrated ability to maintain strong credit metrics, including net debt/EBITDAR of close to zero for both fiscal year 2007 and fiscal year 2006 (while gross debt/EBITDAR was also strong at 0.2x and 0.1x during the same period). The ratings take into account a further improvement in Tatneft's financial profile and operating efficiency in fiscal year 2007. This includes a strengthening of the EBITDAR margin to about 31.6% from 28.4% in fiscal year 2006, improved EBITDAR per barrel of production to US$14.2/bbl from US$10/bbl in fiscal year 2006 and positive free cash flow generation, despite increased capital expenditure and dividends. The ratings are constrained by a lack of significant proprietary refining capacity, thereby limiting Tatneft's overall profitability and making it highly dependent on crude oil prices. Fitch notes that Tatneft is in the process of constructing the greenfield Nizhnekamsk refinery and petrochemical complex, which it intends to commission in phases in 2011-2012. Successful completion of this project is likely to substantially improve Tatneft's vertical integration, bringing it more in line with larger Russian oil companies, and to support Tatneft's profitability. At the same time, Fitch notes a number of uncertainties in relation to the refinery project, including the timing of construction completion, rising costs, and the ultimate availability of project financing, which is yet to be arranged for. Also, Tatneft's below-control ownership in OJSC TANEKO, a company created to construct and operate the Nizhnekamsk complex, and TANEKO's complex ownership structure are a concern. Tatneft's interest in TANEKO includes a 40% direct ownership stake and a 28.8% indirect ownership stake through Tatneft's 48.7% interest in IPCGF, an open-ended fund, which in turn indirectly owns 51% of TANEKO. Fitch also notes Tatneft's limited upstream expansion potential -- at least as far as conventional oil is concerned. However, Tatneft's scale of upstream operations in the longer term could potentially be expanded via non-conventional oil, should the company succeed in profitably developing a bitumen segment. Tatneft's ratings are based on its stand-alone credit profile. The intangible support and influence of Tatneft's largest shareholder, the government of the Republic of Tatarstan (a constituent of the Russian Federation, rated at 'BBB-'/Stable), which indirectly owns approximately 36% of the voting stock of Tatneft are factored into its ratings. They primarily reflect the intangible nature of state support, the balance of benefits and constraints resulting from state ownership, as well as the below-control level of state ownership. The Stable Outlook is based on Fitch's expectation that Tatneft will be able to maintain sound credit metrics. Any possible further positive rating action will largely depend on Tatneft's ability to successfully complete project construction, to gain ownership control of the Nizhnekamsk complex, to improve profitability and operating efficiency, as well as to commence commercial development of the profitable bitumen segment. Tatneft's ratings and Outlook might come under pressure as a result of severe project delays and costs overruns related to the Nizhnekamsk complex construction, the introduction of a quality bank by Transneft, and deterioration of leverage to above 1x for a prolonged period of time. Tatneft is Russia's sixth largest oil company with operations primarily in the Republic of Tatarstan. In fiscal year 2007, Tatneft's oil production of 25.9 million tonnes (506,000 barrels of oil per day) accounted for about 5% of Russia's total oil production. TRANSNEFT OAO: Earns RUR64.67 Billion for Full Year 2007 -------------------------------------------------------- OAO Transneft has released it financial results for the year ended Dec. 31, 2008, prepared according to International Financial Reporting Standards, RIA Novosti relates. Transneft posted a 17.8% increase in annual net profit to RUR64.67 billion on US$2.7 billion. The company also posted a 9.6% increase in net revenues to RUR221.94 billion or US$9.4 billion. The company's operating profit rose 16.2% to RUR95.34 billion while and pretax profit went up 17.7% to RUR95.13 billion. About Transneft Headquartered in Moscow, Russia, OAO Transneft -- http://www.transneft.ru/-- operates one of the largest networks of oil pipelines in the world. The company moves crude oil through more than 30,000 miles of pipeline stretching across Eastern Europe and Asia. Transneft operates a transportation network consisting of more than 30,000 miles of pipeline, about 330 pump stations, and 934 tankers capable of storing more than 13 million cu. meters of petroleum product. The company transports about 93% of the oil produced in Russia. * * * OAO Transneft continues to carry Fitch's 'BB' rating. URAL-OIL LLC: Creditors Must File Claims by August 17 ----------------------------------------------------- Creditors of LLC Ural-Oil have until Aug. 17, 2008, to submit proofs of claim to: A. Nikitin Insolvency Manager Gorkogo Str. 57 Kudymkar 619000 Perm Russia Tel./Fax: (34260) 4-58-91 The Arbitration Court of Perm commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A50P-15897/2007-B6. The Court is located at: The Arbitration Court of Perm Lunacharskogo Str. 3 Perm Russia The Debtor can be reached at: LLC Ural-Oil Pobedy Str. 20-98 Lysva Perm Russia VESTOS-NN CJSC: Creditors Must File Claims by July 17 ----------------------------------------------------- Creditors of CJSC Vestos-NN have until July 17, 2008, to submit proofs of claim to: A. Zakharov Insolvency Manager Office 12 Rozhdestvenskaya Str. 26 Nizhniy Novgorod Russia The Arbitration Court of Nizhniy Novgorod commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A43-7204/2008 33-78. The Court is located at: The Arbitration Court of Nizhniy Novgorod Kremlin 9 603082 Nizhniy Novgorod Russia The Debtor can be reached at: CJSC Vestos-NN Mayakovskogo Str. 11 Nizhniy Novgorod Russia VOSTOK-TEKH-MONTAZH: Creditors Must File Claims by July 17 ---------------------------------------------------------- Creditors of OJSC Vostok-Tekh-Montazh (TIN 1435030517) have until July 17, 2008, to submit proofs of claim to: A. Arbatskiy Temporary Insolvency Manager Room 25 Petrovskogo 21/2 Yakutsk 677008 Sakha-Yakutiya Russia The Arbitration Court of Sakha-Yakutiya will convene at 10:00 a.m. on Nov. 21, 2008, to hear the company's bankruptcy supervision procedure. The case is docketed under Case No. A58-2341/08-0338. The Court is located at: The Arbitration Court of Sakha-Yakutiya Kurashova Str. 28 677000 Sakha-Yakutiya Russia The Debtor can be reached at: OJSC Vostok-Tekh-Montazh Lenina Pr. 3/1 Yakutsk 677000 Sakha�Yakutiya Russia ========= S P A I N ========= CAJA DE AHORROS: Fitch Affirms BB+ Support Floor Rating -------------------------------------------------------- Fitch Ratings has downgraded Caja de Ahorros de Castilla la Mancha's Long-term Issuer Default rating to 'A-' from 'A' and Short-term IDR to 'F2' from 'F1'. The Outlook for the Long-term IDR has been revised to Negative from Stable. At the same time, Fitch has affirmed CCM's ratings at Individual 'B/C', Support '3' and Support Rating Floor 'BB+'. Consequently, Fitch has also downgraded CCM's senior debt to 'A-' from 'A'; subordinated debt to 'BBB+' from 'A-' and preference shares to 'BBB' from 'BBB+'. The rating actions reflect CCM's tight capital in the context of its high risk concentration in the construction and real estate sectors, and its large portfolio of equity investments. Given the significant slowdown in the economic environment and housing sector in Spain as well as tighter credit conditions in the wholesale markets, the caja will be faced with the challenge to defend profitability and asset quality, and reduce concentration in the real estate sector. The success of management's efforts in improving its risk profile and capital levels will determine whether there could be further pressure on the Long-term IDR. On a positive note, CCM has a strong regional franchise and sound profitability. Exposure to the construction and real estate sectors accounted for 43% of lending at end-2007. Fitch takes some comfort that CCM's exposures are closely managed, diversified by purpose, backed by sound collateral and contain a strong element of residential development. Of the loan book, 64% is secured - mostly mortgages - with an average loan-to-value of 59%. On the other hand, there has been deterioration in asset quality so far this year and, at end-May 2008 its impaired/total loans ratio was 2.76% (67% cover). CCM's equity investment portfolio accounted for 120% of Fitch eligible capital at end-2007; it has been aimed at diversifying revenues and includes listed and non-listed companies. It is worth highlighting that the caja estimates to have around EUR700 million of unrecognized capital gains from its non-listed holdings, part of which could be realized to support capital. CCM is mainly funded by retail deposits (55% of end-2007 loans), although it has increased access to the capital markets through diversified funding sources. Liquidity is supported by EUR2.2 billion in assets available for ECB discounting and EUR1 billion in government securities. The potential for growth in lending will depend on the caja's capacity to increase retail deposits. At end-2007 the caja's regulatory Tier 1 and Total capital ratios were 5.72% and 10.57%, respectively. CCM is the parent of Spain's 12th-largest caja by assets at end- 2007. It is based in the region of Castilla-La Mancha, where it has strong market shares of 23% in lending and 29% in deposits. At end-2007 it had 582 branches. CAJA DE GENERAL: Fitch Holds Support Rating Floor at 'BB+' ---------------------------------------------------------- Fitch Ratings has revised Caja de General de Ahorros de Canarias's (CajaCanarias) Outlook to Negative from Stable and downgraded its Individual rating to 'B/C' from 'B'. At the same time, Fitch has affirmed CajaCanarias's ratings to Long-term Issuer Default 'A', Short-term IDR 'F1', Support '3' and Support Rating Floor 'BB+'. The rating actions reflect CajaCanarias's increased risk profile due to strong growth in lending to real estate development companies, particularly since 2004, deterioration in asset quality and tighter liquidity on balance sheet due to its large share of lending activities. They also take into account that Caja Canarias will be faced with the challenge to defend profitability and asset quality and reduce concentration in the real estate sector, at a time when the Spanish housing sector has slowed faster than initially anticipated and credit conditions in the wholesale markets have become tighter. Also, the Canary Island's economy is highly exposed to the performance of the tourism sector, which could be affected by the international economic downturn. The success of management's efforts to improve its risk profile while preventing a marked deterioration of asset quality and profitability will determine whether there could be further pressure on the Long-term IDR. The ratings also reflect Caja Canarias's strong regional franchise, which provides it with a stable retail deposit base, healthy underlying profitability and sound capital adequacy. CajaCanarias reported good operating profitability ratios in 2007, supported by a still relatively wide net interest margin (NIM) and rising commission income. However, this has deteriorated compared to previous years due to pressure on its NIM, higher costs linked to branch expansion and IT developments, and higher loan impairment charges. Its cost/income ratio remained good at 53%, providing financial flexibility. Bottom-line profits continued to benefit from a favorable tax regime in the Canary Islands. CajaCanarias is mainly exposed to credit risk from lending. Lending exposures to the real estate and construction sectors are significant (29% of total lending) although the caja is working to convert these lending exposures into individual mortgages (40% of lending at end-2007 compared to 37% at end- 2006). It has also adopted a more cautious approach to real estate lending since 2007. Despite deterioration from 2007, asset quality ratios remained healthy by international standards, with an impaired loans/total loans ratio of 2.1% and loan loss coverage of 95% at end-March 2008. Liquidity remains reasonable, supported by a stable customer deposit base (56% of total loans at end-2007) and increased access to capital market funding in recent years, which is diversified by instrument and maturities. Capital adequacy ratios remain sound, with Tier 1 ratio of 7.5% (entirely made up of core capital). CajaCanarias was the 25th-largest Spanish savings bank by total assets at end-2007. It is mostly present in the Tenerife province of the autonomous region of Canarias and its business is mostly retail lending and deposit-taking. EDV PACKAGING: Files for Insolvency; Seeks Investor --------------------------------------------------- EDV Packaging has filed for insolvency, plasteurope reports. plasteurope relates EDV, whose debts stood at around EUR5 million, is currently seeking an investor to inject fresh equity into the company. EDV, plasteurope adds, is in talks with potential buyers, including non-strategic players. In 2007, the company had a turnover of EUR46 million, packaging news discloses. Headquartered in Barcelona, Spain, EDV Packaging -- http://www.edvpackaging.com/-- manufactures coextruded high barrier sheet and rigid barrier packaging for the food industry. The company has its head office and production plants in Llinars del Valles, Barcelona, Spain, and three commercial offices in Australia, United States and Singapore. ===================== S W I T Z E R L A N D ===================== 24 STUND: Creditors Must File Proofs of Claim by July 25 -------------------------------------------------------- Creditors owed money by LLC 24 STUND PRIVAT-PFLAG are requested to file their proofs of claim by July 25, 2008, to: Frau Ruza Trifunovic Liquidator Rheingoldstrasse 26 8212 Neuhausen am Rheinfall Switzerland The company is currently undergoing liquidation in Feuerthalen. The decision about liquidation was accepted on June 17, 2008. ACR CAR: Leistal Court Commences Bankruptcy Proceedings ------------------------------------------------------- The Bankruptcy Service of Liestal commenced bankruptcy proceedings against LLC ACR Car-MultimediaWorld on June 4, 2008. The Bankruptcy Service of Liestal can be reached at: Bankruptcy Service of Liestal 4410 Liestal Switzerland The company can be reached at: LLC ACR Car-MultimediaWorld Rutiweg 13 4133 Pratteln Switzerland AKTIENPOWER GLOBAL: Creditors' Proofs of Claim Due by July 25 ------------------------------------------------------------- Creditors owed money by JSC AktienPower Global are requested to file their proofs of claim by July 25, 2008, to: Dr. Daniel Hunkeler and Salvatore Petralia Schumacher Bauer Hurlimann Bahnhofplatz 9 Mail Box 1867 8021 Zurich Switzerland The company is currently undergoing liquidation in Cham. The decision about liquidation was accepted by the regulation of the Banking Commission of Swiss Confederation on March 19, 2008. AKTIENPOWER JSC: Deadline to File Proofs of Claim Set July 25 ------------------------------------------------------------- Creditors owed money by JSC AktienPower are requested to file their proofs of claim by July 25, 2008, to: Dr. Daniel Hunkeler and Salvatore Petralia Schumacher Bauer Hurlimann Bahnhofplatz 9 Mail Box 1867 8021 Zurich Switzerland The company is currently undergoing liquidation in Baar. The decision about liquidation by the regulation of the Banking Commission of Swiss Confederation on March 19, 2008. ALEXANDER & ASSOCIATES: Claims Filing Period Ends July 25 --------------------------------------------------------- Creditors owed money by Alexander & Associates are requested to file their proofs of claim by July 25, 2008, to: JSC Beret Liquidator Bleicherweg 14 Mail Box 2080 8022 Zurich Switzerland The company is currently undergoing liquidation in Zurich. The decision about liquidation was accepted at an extraordinary shareholders' meeting held on April 29, 2008. DOBER TREND-SPORT: Proofs of Claim Filing Deadline is July 25 ------------------------------------------------------------- Creditors owed money by JSC Dober Trend-Sport Zug are requested to file their proofs of claim by July 25, 2008, to: Renato and Daniel Dober Liquidators Tennmattstrasse 46 6410 Goldau Switzerland The company is currently undergoing liquidation in Zug. The decision about liquidation was accepted at an extraordinary general meeting held on June 4, 2008. G-BETON LLC: July 25 Set as Deadline to File Proofs of Claim ------------------------------------------------------------ The Bankruptcy Service of Basel-Stadt commenced bankruptcy proceedings against LLC G-Beton on April 14, 2008. Creditors have until July 25, 2008, to file their proofs of claim. The Bankruptcy Service of Basel-Stadt can be reached at: Bankruptcy Service of Basel-Stadt 4051 Basel Switzerland The Debtor can be reached at: LLC G-Beton Lothringerstrasse 108 4056 Basel Switzerland GENERAL MOTORS: Sets Record Sales in Europe for First Half 2008 --------------------------------------------------------------- In the first half of 2008, General Motors Corp's sales in Europe reached a record of 1,160,935 vehicles, an increase of 31,613 units (or 2.8% ) compared to the same period of 2007. The company market share was 9.5%. "GM is successfully managing to keep its sales momentum in Europe, thanks to an aggressive strategy for growth in Eastern and Central Europe. Despite the headwinds in some of the major western markets, I'm proud to say that our multi-brand strategy is paying off and thanks to a great teamwork we are quickly managing to leverage growth in the key new markets of Europe," said Carl-Peter Forster, GM Europe President. "The Chevrolet brand performance continues to drive our sales momentum in Europe in 2008. We are growing our brand awareness, as we launch vehicles that are right for the market place, like the new Aveo," said Brent Dewar, GM Europe Vice President for Sales, Marketing and Aftersales. "GM is also growing in Eastern Europe, with sales volume up 58% (ahead of the industry, at 35%) and market share up 1.6 point to 10.6%. In Russia, all GM brands are growing: Opel doubled its sales, Saab is up 81%, Chevrolet up 49%, Cadillac up 51% and Hummer up 21%. These remarkable results show that we have strong brands with an attractive portfolio of cars," said Dewar. Chevrolet Continues Record Pace Chevrolet continues building momentum in the European market, with strong sales performance across its model line-up. The brand registered its highest sales volume and market share ever in the first half of 2008, selling 268,200 units and reaching 2.2% share. Sales of the new Aveo were up 58%, to 42,120 units. Captiva also kept a strong sales performance, with an increase of 11.3% to 22,320 units. Opel Grows Volume in Central and Eastern Europe Opel/Vauxhall sold 848,308 vehicles in Europe in January-June of 2008. Market share was at 7%. Strong results in Central and Eastern Europe somewhat offset a considerable general market weakening in Spain and Italy. Opel sales in Eastern Europe were up 81.4% and 17.2% in Central Europe. Meriva was again the leading model in the small monocab segment, Zafira and Meriva led the total monocab segment. GM Sales up 60% in Russia GM is keeping the sales momentum in Russia, with volume increasing 60%, up to 181,138 vehicles in the first half of 2008, significantly outpacing the industry's 35% growth. Market share grew 1.8 point to 11.3%. All GM brands are growing in the Russian market. Opel doubled its sales, with 53,523 units and 3.3 market share. Chevrolet grew 49%, to 125,701 units. Saab was up 80.5%. Saab, Cadillac and HUMMER sales Saab sold 39,418 cars in Europe. Cadillac sales grew by 9.5% compared to the first half of 2007 and HUMMER volume was up 29%. About General Motors Based in Detroit, Michigan, General Motors Corp. (NYSE: GM) -- http://www.gm.com/-- was founded in 1908. GM employs about 266,000 people around the world and manufactures cars and trucks in 35 countries. In 2007, nearly 9.37 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services. At March 31, 2008, GM's balance sheet showed total assets of US$145,741,000,000 and total debts of US$186,784,000,000, resulting in a stockholders' deficit of US$41,043,000,000. Deficit, at Dec. 31, 2007, and March 31, 2007, was US$37,094,000,000 and US$4,558,000,000, respectively. * * * As reported in the Troubled Company Reporter on June 27, 2008, Fitch has downgraded the Issuer Default Rating of General Motors Corporation to 'B-' from 'B', and assigned a Rating Outlook Negative. TCR also reported on June 24, 2008, that DBRS has placed the ratings of General Motors and General Motors of Canada Limited Under Review with Negative Implications. At the same time, Standard & Poor's Ratings Services has placed its corporate credit ratings on the three U.S. automakers, General Motors Corp., Ford Motor Co., and Chrysler LLC, on CreditWatch with negative implications. GM and its senior unsecured notes continues to carry S&P's B corporate credit ratings. MISSION TO PROCESS: Deadline to File Proofs of Claim Set July 25 ---------------------------------------------------------------- Creditors owed money by JSC Mission to Process are requested to file their proofs of claim by July 25, 2008, to: Susanne Eberle-Gahler Liquidator Santisstrasse 26 9230 Flawil Switzerland The company is currently undergoing liquidation in Zurich. The decision about liquidation was accepted at an extraordinary general meeting held on Dec. 11, 2007. SOHAMOB LLC: July 25 Set as Deadline to File Proofs of Claim ------------------------------------------------------------ The Bern-Mittelland Bankruptcy Service commenced bankruptcy proceedings against LLC SOHAMOB (formerly LLC ZPM) on April 9, 2008. The company is currently undergoing liquidation in Luzern. Creditors owed money by the company are requested to file their proofs of claim by July 25, 2008. The Bern-Mittelland Bankruptcy Service: Bern-Mittelland Bankruptcy Service Amtsstelle Konolfingen 3082 Schlosswil Switzerland VALENTIN UTZINGER: Proofs of Claim Filing Deadline is July 25 ------------------------------------------------------------- Creditors owed money by JSC Valentin Utzinger are requested to file their proofs of claim by July 25, 2008, to: Valentin Utzinger Liquidator Schaffhauserstrasse 7A 8500 Frauenfeld Switzerland The company is currently undergoing liquidation in Koelliken. The decision about liquidation was accepted at an extraordinary general meeting held on April 29, 2008. VARIA MED: Creditors Have Until July 25 to File Proofs of Claim --------------------------------------------------------------- Creditors owed money by JSC Varia Med are requested to file their proofs of claim by July 25, 2008, to: Dr. Rudolf Leuppi Liquidator Baarerstrasse 101 6300 Zug Switzerland The company is currently undergoing liquidation in Baar. The decision about liquidation was accepted at an extraordinary general meeting held on May 27, 2008. VITALFORUM LLC: Creditors' Proofs of Claim Due by July 25 --------------------------------------------------------- Creditors owed money by LLC VitalForum are requested to file their proofs of claim by July 25, 2008, to: Martin Dettling Kempfhofweg 10a 8049 Zurich Switzerland The company is currently undergoing liquidation in Eschenbach SG. The decision about liquidation was accepted at a shareholders' meeting held on June 6, 2008. WEMAG LLC: July 25 Set as Deadline to File Proofs of Claim ---------------------------------------------------------- Creditors owed money by LLC WEMAG are requested to file their proofs of claim by July 25, 2008, to: JSC Jurg Geiger Treuhand Sirnacherstr. 7 9500 Wil Switzerland The company is currently undergoing liquidation in Affeltrangen. The decision about liquidation was accepted at a shareholders' meeting held on March 6, 2007. WINTEC TECHNOLOGY: Creditors' Proofs of Claim Due by July 25 ------------------------------------------------------------ Creditors owed money by LLC Wintec Technology are requested to file their proofs of claim by July 25, 2008, to: Fanger Treuhand Nelkenstrasse 2 Mail Box 815 6060 Sarnen 2 Switzerland The company is currently undergoing liquidation in Risch ZG. The decision about liquidation was accepted at an extraordinary shareholders' meeting held on May 2, 2008. ============= U K R A I N E ============= ALKOTRADE LLC: Creditors Must File Claims by July 26 ---------------------------------------------------- Creditors of LLC Alkotrade (code EDRPOU 25264094) have until July 26, 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 June 25, 2008. The case is docketed as 24/118-b. The Debtor can be reached at: LLC Alkotrade Krasnoarmeyskaya St. 47 03150 Kiev Ukraine ALPHA LLC: Creditors Must File Claims by July 31 ------------------------------------------------ Creditors of LLC Consulting Center Alpha (code EDRPOU 34296045) have until July 31, 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 28, 2008. The case is docketed as 43/416. The Debtor can be reached at: LLC Consulting Center Alpha Vasil Stus St. 35-37 03142 Kiev Ukraine BUILDINGPLAST LLC: Creditors Must File Claims by July 26 -------------------------------------------------------- Creditors of LLC Innovative Technologies Buildingplast (code EDRPOU 35077407) have until July 26, 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 June 25, 2008. The case is docketed as 24/156-b. The Debtor can be reached at: LLC Innovative Technologies Buildingplast Liatoshynsky St. 4A/289 03091 Kiev Ukraine FORBS LLC: Creditors Must File Claims by July 26 ------------------------------------------------ Creditors of LLC Forbs (code EDRPOU 35134590) have until July 26, 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 June 10, 2008. The case is docketed as 23/188-b. The Debtor can be reached at: LLC Forbs Artem St. 37-41 04053 Kiev Ukraine GRYEGA-S LLC: Creditors Must File Claims by July 26 --------------------------------------------------- Creditors of LLC Gryega-S (code EDRPOU 34646211) have until July 26, 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 June 25, 2008. The case is docketed as 24/121-b. The Debtor can be reached at: LLC Gryega-S Kachalov St. 5-A 03126 Kiev Ukraine HERMES LLC: Creditors Must File Claims by July 31 ------------------------------------------------- Creditors of LLC Firm Hermes (code EDRPOU 32772833) have until July 31, 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 28, 2008. The case is docketed as 43/417. The Debtor can be reached at: LLC Firm Hermes Obolon Avenue 23-A 04205 Kiev Ukraine INTERSOYUZ LLC: Claims Filing Deadline Set July 26 -------------------------------------------------- Creditors of LLC Intersoyuz (code EDRPOU 03749508) have until July 26, 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 supervision procedure on the company on June 12, 2008. The case is docketed as 21/151/08. The Debtor can be reached at: LLC Intersoyuz Shevchenko St. 23-A Robotino Tokmak District 71720 Zaporozhje Ukraine ISIGA LLC: Creditors Must File Claims by July 26 ------------------------------------------------ Creditors of LLC Isiga (code EDRPOU 35137036) have until July 26, 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 June 25, 2008. The case is docketed as 24/158-b. The Debtor can be reached at: LLC Commerce Firm Isiga Artem St. 21 04053 Kiev Ukraine LATOUR LLC: Creditors Must File Claims by July 26 ------------------------------------------------- Creditors of LLC Latour (code EDRPOU 35139761) have until July 26, 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 June 9, 2008. The case is docketed as 23/183-b. The Debtor can be reached at: LLC Latour Zakrevsky St. 29-B 02217 Kiev Ukraine MAKO-COMPUTER LLC: Creditors Must File Claims by July 26 -------------------------------------------------------- Creditors of LLC Mako-Computer (code EDRPOU 31285376) have until July 26, 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 June 10, 2008. The case is docketed as B-19/47-08. The Debtor can be reached at: LLC Mako-Computer Lenin Avenue 9 61166 Kharkov Ukraine MAXIMUS LLC: Creditors Must File Claims by July 26 -------------------------------------------------- Creditors of LLC Commerce Firm Maximus (code EDRPOU 34691416) have until July 26, 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 June 25, 2008. The case is docketed as 24/157-b. The Debtor can be reached at: LLC COMMERCE FIRM MAXIMUS Novopechersky Avenue 5 01042 Kiev Ukraine NAFTOGAZ UKRAINY: Denies Owing Over US$2 Billion to RosUkrEnergo ---------------------------------------------------------------- Naftogaz Ukrainy denied having more than US$2 billion in debt to RosUkrEnergo, a unit of OAO Gazprom, RIA Novosti reports. According to Naftogaz, as of July 1, 2008, it owes RosUkrEnergo around US$897 million -- US$650 million for gas imports in June 2008. "The debt is being paid regularly. The other claims are dubious and need to be clarified bilaterally," Naftogaz said in a statement. As previously reported in the TCR-Europe, RosUkrEnergo claimed Naftogaz had more than US$2 billion in debt as of July 7, 2008. The amount includes "previous debts, and sums due for Russian gas consumed in 2008," RosUkrEnergo added. About Naftogaz Ukrainy Headquartered in Kiev, Ukraine, NAK Naftogaz Ukrainy -- http://www.naftogaz.com/-- processes gas, oil and condensate at the Company's five gas processing plants, which produce LPG, motor fuels and other types of petroleum products. Over 97% of the oil and gas in Ukraine is produced by the enterprises of the Company. * * * NAK Naftogaz Ukrainy continues to carry a Ba3 Corporate Family Rating, a Ba2 Senior Unsecured Debt rating, and a Ba3 Probability-of-Default rating from Moody's with stable outlook. Naftogaz also carries a Rating Watch Negative on its Long-term foreign and local currency Issuer Default Ratings of 'B+', senior unsecured rating of 'B+' and Recovery Rating of 'RR4.' POLESYE LLC: Creditors Must File Claims by July 26 -------------------------------------------------- Creditors of LLC Polesye (code EDRPOU 33552348) have until July 26, 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 June 25, 2008. The case is docketed as 24/120-b. The Debtor can be reached at: LLC Polesye Petrovskaya St. 15 03064 Kiev Ukraine SLAVUTICH LLC: Creditors Must File Claims by July 26 ---------------------------------------------------- Creditors of LLC Agricultural Firm Slavutich (code EDRPOU 03567546) have until July 26, 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 May 6, 2008. The case is docketed as 14/1913. The Debtor can be reached at: LLC Agricultural Firm Slavutich Bezpalcheye Drabov District Cherkassy Ukraine SPUTNIK LLC: Creditors Must File Claims by July 26 -------------------------------------------------- Creditors of LLC Sputnik (code EDRPOU 32735330) have until July 26, 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 June 25, 2008. The case is docketed as 24/159-b. The Debtor can be reached at: LLC Sputnik Yaroslavov Val St. 17-b 01034 Kiev Ukraine TATARBUNARY AGRICULTURAL: Creditors Must File Claims by July 26 --------------------------------------------------------------- Creditors of OJSC Tatarbunary Agricultural Chemistry (code EDRPOU 05490428) have until July 26, 2008 to submit proofs of claim to: The Economic Court of Odessa Shevchenko Avenue 4 65032 Odessa Ukraine The Economic Court of Odessa commenced bankruptcy proceedings against the company after finding it insolvent on Aug. 21, 2007. The case is docketed as 2/160-07-5612. The Debtor can be reached at: OJSC Tatarbunary Agricultural Chemistry Kniazev St. 67 Tatarbunary 68100 Odessa Ukraine TELEGRAND LLC: Creditors Must File Claims by July 26 ---------------------------------------------------- Creditors of LLC Telegrand (code EDRPOU 35135788) have until July 26, 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 June 25, 2008. The case is docketed as 24/132-b. The Debtor can be reached at: LLC Telegrand Chapayev St. 10 01030 Kiev Ukraine TREK LLC: Creditors Must File Claims by July 26 ----------------------------------------------- Creditors of LLC Science-Production Enterprise Trek (code EDRPOU 33307024) have until July 26, 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 June 25, 2008. The case is docketed as 24/122-b. The Debtor can be reached at: LLC Science-Production Enterprise Trek Degtiarevskaya St. 31 03057 Kiev Ukraine VERSION LLC: Creditors Must File Claims by July 26 -------------------------------------------------- The Economic Court of Kiev commenced bankruptcy proceedings against the company after finding it insolvent on June 25, 2008. The case is docketed as 24/135-b. Creditors of LLC Version (code EDRPOU 21620971) have until July 26, 2008 to submit proofs of claim to: The Economic Court of Kiev B. Hmelnitskij Boulevard 44-B 01030 Kiev Ukraine The Debtor can be reached at: LLC Version Pavel Tychina Avenue 4 02098 Kiev Ukraine VKF BIOLOG: Creditors Must File Claims by July 26 ------------------------------------------------- Creditors of LLC VKF Biolog (code EDRPOU 24944674) have until July 26, 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 after finding it insolvent on June 4, 2008. The case is docketed as 12/77-B-07. The Debtor can be reached at: LLC VKF Biolog Domostroitelnaya St. 6 Herson Ukraine =========================== U N I T E D K I N G D O M =========================== ARC PROJECTS: Brings In Liquidators from Baker Tilly ---------------------------------------------------- Lindsey Cooper and Adrian Allen of Baker Tilly Restructuring and Recovery LLP were appointed joint liquidators of Arc Projects Ltd. on June 26 for the creditors' voluntary winding-up proceeding. The company can be reached at: Arc Projects Ltd. c/o Baker Tilly Restructuring and Recovery LLP Brazennose House Lincoln Square Manchester M2 5BL England ARDANA BIOSCIENCE: Appoints Administrators from Ernst & Young ------------------------------------------------------------- David Duggins and Thomas Merchant Burton of Ernst & Young LLP were appointed joint administrators of Ardana Bioscience Ltd. (Company Number 04008598) on June 30, 2008. Ernst & Young -- http://www.ey.com/-- provides broad array of services relating to audit and risk-related services, tax, and transactions across all industries�from emerging growth companies to global powerhouses�deal with a broad range of business issues. The company can be reached at: Ardana Bioscience Ltd. 5th Floor Northwest Wing Bush House Aldwych London WC2B 4EZ England BROADBAND OFFICE: Taps Joint Administrators from BDO Stoy --------------------------------------------------------- Shay Bannon and Antony David Nygate of BDO Stoy Hayward LLP were appointed joint administrators of Broadband Office Services Ltd. (Company Number 04737969) on July 2, 2008. BDO Stoy Hayward -- http://www.bdo.co.uk/-- focuses on business assurance (audit), corporate advisory, tax, and investment management services, specializing in such industries as charities, educational institutions, family businesses, financial services, leisure, and hospitality. The company is the U.K. arm of BDO International and has offices in more than 15 cities throughout the U.K. BUTLER & TANNER: Taps Liquidators from Smith & Williamson --------------------------------------------------------- Anthony Murphy and Robert William Leslie Horton and Roger Tulloch of Smith & Williamson Ltd. were appointed joint liquidators of Butler & Tanner Ltd. on June 16 for the creditors' voluntary winding-up proceeding. The company can be reached at: Butler & Tanner Ltd. c/o Smith & Williamson Ltd. No. 1 Bishops Wharf Walnut Tree Close Guildford Surrey GU1 4RA England BYFLEET SOLNA: Creditors' Meeting Slated for July 23 ---------------------------------------------------- Creditors of Byfleet Solna Ltd. (formerly Andrews-Weatherfoil Ltd.)will meet at 10:00 a.m. on July 23, 2008, at: Vantis Torrington House 47 Holywell Hill St. Albans Hertfordshire AL1 1HD England Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims at noon on July 22, 2008, to: M. Young Joint Administrator Vantis Torrington House 47 Holywell Hill St. Albans Hertfordshire AL1 1HD England Headquartered in United Kingdom, Vantis Plc (fka Vantis Numerica) -- http://www.vantisplc.com/-- provides accounting, business and tax advisory services in the United Kingdom. CHRYSLER LLC: Faces Suit in N.Y. Over Sebring Engines Warranties ---------------------------------------------------------------- Chrysler LLC is facing a class-action complaint before the District Court of Manhattan over allegations that the 2.7 liter engine used in Chrysler's Sebring and other models fails prematurely and Chrysler won't honor its warranty to fix or replace the engine, CourtHouse News Service reports. According to the complaint, the engine was used in 1998-2003 Chrysler Sebrings and Concordes, and Dodge Intrepids and Stratuses. Named plaintiff Stephanie Newman Durst says she bought a new 2003 Sebring with a 70,000 mile warranty. She says the engine seized up under normal conditions at 52,000 miles, and when she took it to her dealer in Newburgh, she "was informed by that dealership that they were instructed by representatives of DaimlerChrysler Corporation not to honor the warranty by repairing the vehicle." The complaint claims the engines require "enhanced maintenance" because, "among other things, the engine was prone to accumulation of oil sludge in the passageways of the cinder block, resulting in inadequate oil circulation to the engine valves, pistons and camshafts. This caused the engine parts to eventually seize, resulting in catastrophic engine failure and permanent seizure of the engine." Headquartered in Auburn Hills, Michigan, Chrysler LLC -- http://www.chrysler.com/-- offers cars and minivans, pick-up trucks, sport utility vehicles, and vans under the Chrysler, Jeep, and Dodge brand names. It also sells parts and accessories under the MOPAR brand. The company has dealers worldwide, including Canada, Mexico, U.S., Germany, France, U.K., Argentina, Brazil, Venezuela, China, Japan and Australia. CONCERTO II: Fitch Affirms 'BB-' Rating on Class D Notes -------------------------------------------------------- Fitch Ratings has upgraded Concerto II B.V.'s Class C and combination notes and affirmed the rest as listed below: -- Class B (ISIN XS0132896977): affirmed at 'AAA' -- Class C-1 (ISIN XS0132898080): upgraded to 'AA' from 'BBB-' -- Class C-2 (ISIN XS0132898163): upgraded to 'AA' from 'BBB-' -- Class D (ISIN XS0132898247): affirmed at 'BB-' -- Combination Notes (ISIN XS0132899302): upgraded to 'AA' from 'BB-' Fitch released two new criteria on April 30, 2008: new Global Criteria for Corporate CDO/CLOs and new Global Criteria for Cash Flow Analysis in Corporate CDOs. At that time, Fitch noted that it would be reviewing its ratings with these two new criteria to establish consistency for existing and new transactions, and these rating actions are a result of this review. Following the trustee report on June 30, 2008, the remaining portfolio contains 18 bonds and loans from 13 issuers with a par amount of EUR63.8 million and a principal cash balance of EUR40.7 million. The cash balance is sufficient to fully repay the Class B notes and approximately 50% of the Class C notes at the next payment date in September 2008. The upgrade of the Class C notes reflects the increase in over-collateralization to 165% from 116% initially as the transaction has de-leveraged. The rating of the Combination Notes addresses the return of the original principal amount. The issued balance of these notes was originally EUR20.0 million. As at the last payment date in March 2008 these notes have received a total distribution of EUR14.9 million leaving a remaining rated balance of EUR5.1 million. The upgrade of these notes reflects the reduction in rated balance and increase in over-collateralization of the notes, as the transaction has de-leveraged. For the Class D notes the current credit enhancement levels are deemed sufficient to justify their ratings under both Fitch's revised corporate CDO rating methodology and its new Global Criteria for Cash Flow Analysis. In August 2001, Concerto II B.V., a limited liability company incorporated under Dutch law, issued EUR500 million of various classes of fixed- and floating-rate notes and invested the net proceeds in a portfolio of speculative-grade debt securities and loans. DIPFORD GROUP: Brings In Administrators from Menzies ---------------------------------------------------- David Whitehouse and Phil Duffy, partners from Menzies Corporate Restructuring, were appointed as administrators to Dipford Group plc by the company's secured lenders. MCR is continuing to trade the business on a limited basis while it reviews its options and seeks a purchaser for the business. The company has been advised that MCR's appointment does not affect Dipford's subsidiary Bruce & Co., Edinburgh-based agents in the sale of licensed, retail and care businesses, which is a separate legal entity and continues as a profitable enterprise. On June 18, 2008, Dipford appointed Deloitte & Touche LLP to assist in the process for the procurement and consideration of indicative offers for all or part of the trade and assets of the Company. Shares in Dipford were suspended on June 6, 2008, pending clarification of the company's financial position. Dipford Group plc -- http://www.dipford.com/-- is an AIM-listed company, which acts as an agent for vendors of small and medium sized businesses throughout the U.K. across a wide range of sectors. Formed in 2001, the company employed 58 staff and its head office is in Honley, Huddersfield. DOT MOBILE: Appoints Liquidators from Smith & Williamson -------------------------------------------------------- Stephen Robert Cork and Joanne Elizabeth Milner of Smith & Williamson Ltd. were appointed joint liquidators of Dot Mobile Ltd. (formerly Subzone Ltd. and WI-Life Ltd.) on June 26 for the creditors' voluntary winding-up proceeding. The company can be reached at: Dot Mobile Ltd. c/o Smith & Williamson Prospect House 2 Athenaeum Road London N20 9YU England EXODUS MANAGEMENT: Calls In Liquidators from Moore Stephens ----------------------------------------------------------- Nigel Price and Colin Andrew Prescott of Moore Stephens LLP were appointed joint liquidators of Exodus Management Ltd. on June 26 for the creditors' voluntary winding-up proceeding. The company can be reached at: Exodus Management Ltd. c/o Moore Stephens LLP Beaufort House 94-96 Newhall Street Birmingham B3 1PB England FCM TECHNOLOGIES: Brings In Liquidators from Tenon Recovery ----------------------------------------------------------- Ian William Kings and Steven Philip Ross of Tenon Recovery were appointed joint liquidators of FCM Technologies Ltd. on June 27 for the creditors' voluntary winding-up proceeding. The company can be reached at: FCM Technologies Ltd. c/o Tenon Recovery Tenon House Ferryboat Lane Sunderland Tyne & Wear SR5 3JN England FUSION FILLINGS: Calls In Administrators from Tenon Recovery ------------------------------------------------------------ Stanley Donald Burkett-Coltman and Nigel Ian Fox of Tenon Recovery were appointed joint administrators of Fusion Filings Ltd. (Company Number 4159888) on June 27, 2008. Tenon Recovery -- http://www.tenongroup.com/-- provides accounting and business advice to owner-managed and private business. The company can be reached at: Fusion Filings Ltd. 10 Bridge Street Christchurch Dorset BH23 1EF England GLO HIRE: Creditors' Meeting Slated for August 27 ------------------------------------------------- Creditors of Glo Hire & Sales Ltd. will meet at 10:00 a.m. on Aug. 27, 2008, at: Vantis Torrington House 47 Holywell Hill St. Albans Hertfordshire AL1 1HD England Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims at noon on Aug. 26, 2008, to: P. Hollis Joint Administrator Vantis Torrington House 47 Holywell Hill St. Albans Hertfordshire AL1 1HD England Headquartered in United Kingdom, Vantis Plc (fka Vantis Numerica) -- http://www.vantisplc.com/-- provides accounting, business and tax advisory services in the United Kingdom. H.J. HEINZ: Moody's Assigns Ba1 Rating on Preferred Stock --------------------------------------------------------- Moody's Investors Service assigned a Baa2 rating to US$500 million of five-year senior unsecured notes issued by H.J. Heinz Company and a Ba1 rating to US$350 million of series B cumulative preferred stock issued by H.J. Heinz Finance Company. Moody's also affirmed the existing Baa2 long term debt rating, Ba1 preferred stock rating, and Prime-2 short term debt rating of Heinz and its subsidiaries. The rating outlook is stable. The senior notes pay a coupon of 5.35% and mature on July 15, 2013. Heinz intends to use the proceeds from the senior notes primarily to repay outstanding commercial paper and other indebtedness. In the fourth quarter, Heinz issued commercial paper to fund the redemption of US$300 million of senior unsecured notes that matured March 15, 2008. The US$350 million series B cumulative preferred stock pay an 8% dividend and is mandatorily redeemable on July 15, 2013. The proceeds will be used primarily to refinance the maturing US$325 million 6.226% series A cumulative preferred stock due July 15, 2008, and to repay other indebtedness. Following this redemption, Moody's will withdraw the ratings on the series A cumulative preferred stock. Ratings assigned: H.J. Heinz Company -- US$500 million senior unsecured notes due 2013 at Baa2 H.J. Heinz Finance Company -- US$350 million series B preferred stock at Ba1 Ratings affirmed: H.J. Heinz Company -- Senior unsecured debt at Baa2 H.J. Heinz Finance Company -- Senior unsecured debt at Baa2 under full guarantee of H.J. Heinz Company -- Preferred stock at Ba1 H.J. Heinz Finance UK PLC -- Senior unsecured debt at Baa2 under full guarantee of H.J. Heinz Company H.J. Heinz Company -- Short term debt at Prime-2 H.J. Heinz Finance Company -- Short term debt at Prime-2 under full guarantee of H.J. Heinz Company H.J. Heinz B.V. -- Short term debt at Prime-2 under full guarantee of H.J. Heinz Company H.J. Heinz Finance UK PLC -- Short term debt at Prime-2 under full guarantee of H.J. Heinz Company H.J. Heinz Company of Canada Limited -- Short term debt at Prime-2 under full guarantee of H.J. Heinz Company Headquartered in Pittsburgh, Pennsylvania and founded in 1869, H. J. Heinz Company is a marketer and producer of branded foods in ketchup, condiments, sauces, meals, soups, seafood, snacks and infant foods. Key brands include Heinz� Ketchup, sauces, soups, beans, pasta and infant foods, Ore-Ida� French Fries and roasted potatoes, Boston Market� and Smart Ones� meals and Plasmon baby food. Heinz's 50 companies have number-one or number-two brands in 200 countries. The company's European headquarters in located in England. HORNERS MOTOR: Goes Into Administrative Receivership ---------------------------------------------------- Horners Motor Group Ltd. has gone into receivership with the loss of 73 jobs, Crain's Manchester Business reports. Crain's Manchester Business relates Dermot Power and Matthew Dunham of BDO Stoy Hayward were appointed receivers of the company. "Retailing new and used cars has become increasingly competitive. Tight margins have contracted even further in recent months as a result of the current economic climate," Mr. Durham was quoted by Crain's Manchester Business as saying. "As a result, firms like Horners are experiencing falling volumes, rising costs and price deflation." Crain's Manchster Business discloses the company reported a loss of GBP564,000 on turnover of GBP38.3 million in the year to end of June 2007. Horners Motor Group Ltd. sold Skoda and Mitsubishi cars in Manchester and Rochdale. The company was owned by John Haytack. INTERNATIONAL MEDICAL: Puts Two Subsidiaries Into Administration ---------------------------------------------------------------- International Medical Devices plc provides an update on its financial position. The Board has continued to have discussions with its present bank, other financial institutions, and individuals, in order to provide funding in the form of loans and/or equity, to support IMD's working capital requirements. The funding requirements have not been forthcoming from the parties with whom discussions have been held, and this has clearly been influenced by the difficult economic conditions, in particular the current economic climate, equity market uncertainties, and tightening of credit policy and conditions in the banking market. The Board has been working closely with IMD's existing bank, in order to protect the assets of the business. The IMD Board has regrettably taken the decision, to place two of IMD's three trading subsidiaries, being Pro-Care Limited and Response Medical Equipment Limited, into Administration. BDO Stoy Hayward has been appointed Administrator of these businesses. IMD and the Administrators are working together to try to find a solution for the IMD group. On June 27, 2008, IMD requested that trading in its shares on AIM be suspended with immediate effect pending clarification of the company's financial position. Headquartered in London, England, International Medical Devices plc -- http://www.imd-plc.com/-- is a medical supply company targeting the medical consumables, cardiorespiratory, acute and aged care markets. LILYPAD ESTATES: Brings In Joint Administrators from PwC -------------------------------------------------------- Mark David Arthur Loftus and Ian David Green of PricewaterhouseCoopers LLP were appointed joint administrators of Lilypad Estates Ltd. (Company Number 05773334) on July 4, 2008. PricewaterhouseCoopers LLP -- http://www.pwcglobal.com/-- provides auditing services, accounting advice, tax compliance and consulting, financial consulting and advisory services to clients in a variety of industries. The company can be reached at: Lilypad Estates Ltd. c/o PricewaterhouseCoopers LLP Benson House 33 Wellington Street Leeds LS1 4JP England NORTHWORLD LTD: Creditors' Meeting Slated for July 28 ----------------------------------------------------- Creditors of Northworld Ltd. (Company Number 3160029) will meet at 10:30 a.m. on July 28, 2008, at: Ramada Encore Hotel London West 4 Portal Way London West W3 6RT England Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims at noon on July 25, 2008, to: Lee Antony Manning Joint Administrator Deloitte & Touche LLP Athene Place 66 Shoe Lane London EC4A 3BQ England Deloitte & Touche LLP -- http://www.deloitte.com/-- provides audit, tax, consulting and corporate finance services through more than 9,000 people in 21 locations. The group is the United Kingdom member firm of Deloitte Touche Tohmatsu, a Swiss Verein whose member firms are separate and independent legal entities. PACSCOM LTD: Creditors' Meeting Slated for July 25 -------------------------------------------------- Creditors of Pascom Ltd. (Company Number 01655859) will meet at 10:30 a.m. on July 25, 2008, at: Deloitte & Touche LLP First Floor 2 New Street Square London EC4A 3BZ England Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims at noon on July 24, 2008, to: Lee Antony Manning Joint Administrator Deloitte & Touche LLP PO Box 810 66 Shoe Lane London EC4A 3WA England Deloitte & Touche LLP -- http://www.deloitte.com/-- provides audit, tax, consulting and corporate finance services through more than 9,000 people in 21 locations. The group is the United Kingdom member firm of Deloitte Touche Tohmatsu, a Swiss Verein whose member firms are separate and independent legal entities. PEPPER POST: Appoints Joint Administrators from Baker Tilly ----------------------------------------------------------- Geoffrey Lambert Carton-Kelly and Simon Bower of Baker Tilly Restructuring and Recovery LLP were appointed joint administrators of Pepper Post Production Ltd. (Company Number 04729110) on July 2, 2008. Baker Tilly -- http://www.bakertilly.co.uk/-- provides auditing and other services for mid-cap and smaller publicly listed companies and private companies, particularly those expanding into new foreign markets. Services include business and financial planning, tax-related services, corporate finance, litigation support, turnaround services, and technology consulting. The company can be reached at: Pepper Post Production Ltd. 10 Dover Street London W1S 4LQ England QUEBECOR WORLD: Judge Peck Modifies Management Incentive Plan ------------------------------------------------------------- Judge James M. Peck of the U.S. Bankruptcy Court for the Southern District of New York authorized Quebecor World Inc. and its debtor-affiliates to implement and continue the Management Incentive Compensation Plan and the Plant Based Incentive Plan. Judge Peck, however, modified the MICP to provide that: (a) With respect to the payment of 50% of the enhanced portion of the MICP for 2008 otherwise payable upon meeting the criteria provided in a report by Towers Perrin, which was filed under seal. The amount will only be payable to the participants in the event that Quebecor World, Inc., files its annual financial report for the fiscal year ending Dec. 31, 2008, with the Canadian Securities Regulatory Authorities on March 31, 2009; (b) The 2009 EBITDA targets to be used to determine a participant's award under the 2009 MICP will remain subject to the review and approval of the Official Committee of Unsecured Creditors on July 31, 2008; provided, that, in the event, the Committee fails to approve the 2009 EBITDA targets before July 31, 2008, the targets will be determined by the Court upon subsequent request by the Debtors; and (c) With respect to the payment of the enhanced portion of the MICP for 2009 payable to the participants provided in the Towers Perrin Report, the payment will be made upon the later of (i) Sept 30, 2009, and (ii) the filing of the Debtors' plan of reorganization. "This is an incentive plan construct that has historical resonance in the company. The people to be benefited have expected this in pre-bankruptcy years and have even more of a need to be ensured these incentives will be in place now," Bloomberg News quoted Judge Peck as saying. Judge Peck, according to Bloomberg, determined that the payments proposed by "wouldn't violate a 2005 change in the Bankruptcy Code that was meant to discourage high bonuses to managers who oversaw companies before they filed for bankruptcy." The Debtors estimate that the MICP will cost between US$14,000,000 and US$41,900,000, and will benefit 250 employees. The PBIP, on the other hand, is estimated to cost US$9,600,000, and will affect 340 participants. The Honorable Justice Robert Mongeon of the Quebec Superior Court of Justice, the judge overseeing Quebecor Worlds' reorganization proceedings under the Canadian Companies' Creditors Arrangement Act, also authorized the CCAA Applicants to implement and continue the Incentive Plans. Judge Mongeon rules that tax authorities are not prevented from obtaining information regarding the exact content of the Incentive Plans, the names of the eligible employees, and the payment amount to be made to each employee. Ernst & Young, Inc., the Court-appointed monitor of the CCAA Applicants' proceedings, told Judge Mongeon that it has reviewed the details of the Incentive Plans and believes that the Plans provide reasonable compensation in the Applicants' current situation. Accordingly, the Monitor said it supports the Applicants' request to adopt the Incentive Plans. Motion to Pay US$203,403 in Bonuses The Court previously authorized the Debtors to pay their employees for wages and salaries they earned prepetition, and honor other prepetition employee-related obligation, which does not exceed US$10,950 per employee. The Debtors have determined that they owe 23 employees bonuses aggregating US$203,403, pursuant to the terms and conditions of each of the employees' prepetition employment contracts. Thee payments are owed to the employees as prepetition signing bonuses offered to certain new hires or to employees asked to relocate, Michael J. Canning, Esq., at Arnold & Porter LLP, New York, relates. Accordingly, the Debtors seek the Court's authority to pay the bonuses. Mr. Canning says the Debtors need to pay the bonuses to minimize the personal hardship that the affected employees will suffer if they are not paid when due, and to maintain the morale of the Debtors' workforce by adhering to the payment terms provided for under employment contracts entered into prepetition with the affected employees. About Quebecor World Based in Montreal, Quebec, Quebecor World Inc. (TSX: IQW) (NYSE: IQW), -- http://www.quebecorworldinc.com/-- provides market solutions, including marketing and advertising activities, well as print solutions to retailers, branded goods companies, catalogers and to publishers of magazines, books and other printed media. It has 127 printing and related facilities located in North America, Europe, Latin America and Asia. In the United States, it has 82 facilities in 30 states, and is engaged in the printing of books, magazines, directories, retail inserts, catalogs and direct mail. The company has operations in Mexico, Brazil, Colombia, Chile, Peru, Argentina and the British Virgin Islands. Quebecor World and 53 of its subsidiaries, including those in Canada, filed a petition under the Companies' Creditors Arrangement Act before the Superior Court of Quebec, Commercial Division, in Montreal, Canada, on Jan. 20, 2008. The Honorable Justice Robert Mongeon oversees the CCAA case. Francois-David Pare, Esq., at Ogilvy Renault, LLP, represents the Company in the CCAA case. Ernst & Young Inc. was appointed as Monitor. On Jan. 21, 2008, Quebecor World (USA) Inc., its U.S. subsidiary, along with other U.S. affiliates, filed for chapter 11 bankruptcy on Jan. 21, 2008 (Bankr. S.D.N.Y Lead Case No. 08- 10152). Anthony D. Boccanfuso, Esq., at Arnold & Porter LLP represents the Debtors in their restructuring efforts. The Official Committee of Unsecured Creditors is represented by Akin Gump Strauss Hauer & Feld LLP. Based in Corby, Northamptonshire, Quebecor World PLC -- http://www.quebecorworldplc.com/-- is the U.K. subsidiary of Quebecor World Inc. that specializes in web offset magazines, catalogues and specialty print products for marketing and advertising campaigns. The company employs around 290 people. Quebecor PLC was placed into administration with Ian Best and David Duggins of Ernst & Young LLP appointed as joint administrators effective Jan. 28, 2008. As of Sept. 30, 2007, Quebecor World's unaudited consolidated balance sheet showed total assets of US$5,554,900,000, total liabilities of US$3,964,800,000, preferred shares of US$175,900,000, and total shareholders' equity of US$1,414,200,000. The Debtors have until Sept. 30, 2008, to file a plan of reorganization in the chapter 11 case. The Debtors' CCAA stay has been extended to July 25, 2008. (Quebecor World Bankruptcy News, Issue No. 20; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000) QUEBECOR WORLD: Printing Agreement with Dex Extended to 2015 ------------------------------------------------------------ Quebecor World Inc. signed an extended and expanded multi-year agreement with Dex Media Inc. Under this expanded agreement Quebecor World will extend by one year to 2015 its existing directory printing agreement covering Dex directories in fourteen Western and Central states. In addition, the contract expands the products to be manufactured by Quebecor World for Dex Media. These value added products offer advertisers creative, nontraditional ways of addressing the end consumer. Incremental sales are forecast at more than US$25 million over the term of the agreement. Quebecor World will supply Dex Media from its Loveland, CO. plant and from its network of North American directory facilities. "Dex Media is one of America's leading directory publishers," said Jacques Mallette, President and CEO Quebecor World. "Quebecor World is pleased to expand our relationship with them." Kevin J. Clarke, President of Quebecor World's Publishing Services Group commented, "Dex Media and Quebecor World have worked together successfully for many years. This agreement to produce more of their valued added products is a true win-win opportunity. We are delighted to work together to support such new innovation in the directory marketplace." Assumption of Amended Printing Deal with Dex As reported in The Troubled Company Reporter on July 2, 2008, the Debtors obtained permission from the U.S. Bankruptcy Court for the Southern District of New York to amend and assume an agreement it entered with Dex Media Inc. The TCR on June 24, 2008, said that Debtor Quebecor World (USA) Inc., and Dex Media are parties to a master agreement for printing services, dated March 31, 2005. The printing agreement provides for QWUSA to print telephone directories for Dex through Dec. 31, 2014. Sales volume of the printing agreement was estimated at about US$200,000,000, Michael J. Canning, Esq., at Arnold & Porter LLP, in New York, related. About Quebecor World Based in Montreal, Quebec, Quebecor World Inc. (TSX: IQW) (NYSE: IQW), -- http://www.quebecorworldinc.com/-- provides market solutions, including marketing and advertising activities, well as print solutions to retailers, branded goods companies, catalogers and to publishers of magazines, books and other printed media. It has 127 printing and related facilities located in North America, Europe, Latin America and Asia. In the United States, it has 82 facilities in 30 states, and is engaged in the printing of books, magazines, directories, retail inserts, catalogs and direct mail. The company has operations in Mexico, Brazil, Colombia, Chile, Peru, Argentina and the British Virgin Islands. Quebecor World and 53 of its subsidiaries, including those in Canada, filed a petition under the Companies' Creditors Arrangement Act before the Superior Court of Quebec, Commercial Division, in Montreal, Canada, on Jan. 20, 2008. The Honorable Justice Robert Mongeon oversees the CCAA case. Francois-David Pare, Esq., at Ogilvy Renault, LLP, represents the Company in the CCAA case. Ernst & Young Inc. was appointed as Monitor. On Jan. 21, 2008, Quebecor World (USA) Inc., its U.S. subsidiary, along with other U.S. affiliates, filed for chapter 11 bankruptcy on Jan. 21, 2008 (Bankr. S.D.N.Y Lead Case No. 08- 10152). Anthony D. Boccanfuso, Esq., at Arnold & Porter LLP represents the Debtors in their restructuring efforts. The Official Committee of Unsecured Creditors is represented by Akin Gump Strauss Hauer & Feld LLP. Based in Corby, Northamptonshire, Quebecor World PLC -- http://www.quebecorworldplc.com/-- is the U.K. subsidiary of Quebecor World Inc. that specializes in web offset magazines, catalogues and specialty print products for marketing and advertising campaigns. The company employs around 290 people. Quebecor PLC was placed into administration with Ian Best and David Duggins of Ernst & Young LLP appointed as joint administrators effective Jan. 28, 2008. As of Sept. 30, 2007, Quebecor World's unaudited consolidated balance sheet showed total assets of US$5,554,900,000, total liabilities of US$3,964,800,000, preferred shares of US$175,900,000, and total shareholders' equity of US$1,414,200,000. The Debtors have until Sept. 30, 2008, to file a plan of reorganization in the chapter 11 case. The Debtors' CCAA stay has been extended to July 25, 2008. (Quebecor World Bankruptcy News, Issue No. 20; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000) QUEBECOR WORLD: Receives Conversion Notices for Series 5 Shares --------------------------------------------------------------- Quebecor World Inc. received notices in respect of 744,124 of its remaining 2,507,153 issued and outstanding Series 5 Cumulative Redeemable First Preferred Shares (TSX: IQW.PR.C) requesting conversion into the company's Subordinate Voting Shares (TSX: IQW). In accordance with the provisions governing the Series 5 Preferred Shares, registered holders of the shares are entitled to convert all or any number of their Series 5 Preferred Shares into a number of Subordinate Voting Shares effective as of Sept. 1, 2008, provided the holders gave notice of their intention to convert at least 65 days prior to the Conversion Date. The Series 5 Preferred Shares are convertible into that number of the company's Subordinate Voting Shares determined by dividing CUS$25.00 together with all accrued and unpaid dividends on the shares up to Aug. 31, 2008 by the greater of (i) CUS$2.00 and (ii) 95% of the weighted average trading price of the Series 5 Preferred Shares on the Toronto Stock Exchange during the period of 20 trading days ending on Aug. 28, 2008. The next conversion date on which registered holders of the Series 5 Preferred Shares will be entitled to convert all or any number of such shares into Subordinate Voting Shares is Dec. 1, 2008, and notices of conversion in respect thereof must be deposited with the company's transfer agent, Computershare Investor Services Inc., on or before Sept. 26, 2008. About Quebecor World Based in Montreal, Quebec, Quebecor World Inc. (TSX: IQW) (NYSE: IQW), -- http://www.quebecorworldinc.com/-- provides market solutions, including marketing and advertising activities, well as print solutions to retailers, branded goods companies, catalogers and to publishers of magazines, books and other printed media. It has 127 printing and related facilities located in North America, Europe, Latin America and Asia. In the United States, it has 82 facilities in 30 states, and is engaged in the printing of books, magazines, directories, retail inserts, catalogs and direct mail. The company has operations in Mexico, Brazil, Colombia, Chile, Peru, Argentina and the British Virgin Islands. Quebecor World and 53 of its subsidiaries, including those in Canada, filed a petition under the Companies' Creditors Arrangement Act before the Superior Court of Quebec, Commercial Division, in Montreal, Canada, on Jan. 20, 2008. The Honorable Justice Robert Mongeon oversees the CCAA case. Francois-David Pare, Esq., at Ogilvy Renault, LLP, represents the Company in the CCAA case. Ernst & Young Inc. was appointed as Monitor. On Jan. 21, 2008, Quebecor World (USA) Inc., its U.S. subsidiary, along with other U.S. affiliates, filed for chapter 11 bankruptcy on Jan. 21, 2008 (Bankr. S.D.N.Y Lead Case No. 08- 10152). Anthony D. Boccanfuso, Esq., at Arnold & Porter LLP represents the Debtors in their restructuring efforts. The Official Committee of Unsecured Creditors is represented by Akin Gump Strauss Hauer & Feld LLP. Based in Corby, Northamptonshire, Quebecor World PLC -- http://www.quebecorworldplc.com/-- is the U.K. subsidiary of Quebecor World Inc. that specializes in web offset magazines, catalogues and specialty print products for marketing and advertising campaigns. The company employs around 290 people. Quebecor PLC was placed into administration with Ian Best and David Duggins of Ernst & Young LLP appointed as joint administrators effective Jan. 28, 2008. As of Sept. 30, 2007, Quebecor World's unaudited consolidated balance sheet showed total assets of US$5,554,900,000, total liabilities of US$3,964,800,000, preferred shares of US$175,900,000, and total shareholders' equity of US$1,414,200,000. The Debtors have until Sept. 30, 2008, to file a plan of reorganization in the chapter 11 case. The Debtors' CCAA stay has been extended to July 25, 2008. (Quebecor World Bankruptcy News, Issue No. 20; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000) QUEBECOR WORLD: Wants Five More KPMG Retention Letters Approved --------------------------------------------------------------- Quebecor World Inc. and its debtor-affiliates notified the U.S. Bankruptcy Court for the Southern District of New York that they have recently entered into five additional engagement letters with KPMG LLP (U.S.). The Debtors sought the Court's approval of the additional engagement letters, nunc pro tunc to May 22, 2008. The letters contemplate that, in addition to the tax compliance and consulting services, KPMG US will also provide these services: (a) preparation of a tax opinion letter concerning the deductibility of interest on outstanding indebtedness for U.S. federal income tax purposes taking into account certain refinancing and recapitalization transactions in 2007; (b) preparation of a tax opinion letter concerning the U.S. federal income tax implications with respect to a cross border leasing arrangement; (c) preparation of a tax opinion letter with respect to the 2007 reorganization of the Debtors' "reverse hybrid" financing structure; (d) providing tax advice with respect to the U.S. federal income tax consequences of alternative potential reorganizations of the Debtors' Mexican affiliates; and (e) providing tax consulting services with respect to the U.S. federal income tax consequences of the Debtors' restructuring of a portion of their debts. The Debtors will pay KPMG US based on these hourly rates: Washington National Tax Partner US$730 International Corporate Services Partner US$715 ICS Tax Managing Director US$670 WNT Senior Manager US$655 ICS Senior Manager US$610 ICS Manager US$490 ICS Senior Associate US$325 ICS Associate US$245 ICS Intern US$145 Michael Lawler, a partner at KPMG (US), maintained that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code, and that it does not represent any interest adverse to the Debtors or their estates. About Quebecor World Based in Montreal, Quebec, Quebecor World Inc. (TSX: IQW) (NYSE: IQW), -- http://www.quebecorworldinc.com/-- provides market solutions, including marketing and advertising activities, well as print solutions to retailers, branded goods companies, catalogers and to publishers of magazines, books and other printed media. It has 127 printing and related facilities located in North America, Europe, Latin America and Asia. In the United States, it has 82 facilities in 30 states, and is engaged in the printing of books, magazines, directories, retail inserts, catalogs and direct mail. The company has operations in Mexico, Brazil, Colombia, Chile, Peru, Argentina and the British Virgin Islands. Quebecor World and 53 of its subsidiaries, including those in Canada, filed a petition under the Companies' Creditors Arrangement Act before the Superior Court of Quebec, Commercial Division, in Montreal, Canada, on Jan. 20, 2008. The Honorable Justice Robert Mongeon oversees the CCAA case. Francois-David Pare, Esq., at Ogilvy Renault, LLP, represents the Company in the CCAA case. Ernst & Young Inc. was appointed as Monitor. On Jan. 21, 2008, Quebecor World (USA) Inc., its U.S. subsidiary, along with other U.S. affiliates, filed for chapter 11 bankruptcy on Jan. 21, 2008 (Bankr. S.D.N.Y Lead Case No. 08- 10152). Anthony D. Boccanfuso, Esq., at Arnold & Porter LLP represents the Debtors in their restructuring efforts. The Official Committee of Unsecured Creditors is represented by Akin Gump Strauss Hauer & Feld LLP. Based in Corby, Northamptonshire, Quebecor World PLC -- http://www.quebecorworldplc.com/-- is the U.K. subsidiary of Quebecor World Inc. that specializes in web offset magazines, catalogues and specialty print products for marketing and advertising campaigns. The company employs around 290 people. Quebecor PLC was placed into administration with Ian Best and David Duggins of Ernst & Young LLP appointed as joint administrators effective Jan. 28, 2008. As of Sept. 30, 2007, Quebecor World's unaudited consolidated balance sheet showed total assets of US$5,554,900,000, total liabilities of US$3,964,800,000, preferred shares of US$175,900,000, and total shareholders' equity of US$1,414,200,000. The Debtors have until Sept. 30, 2008, to file a plan of reorganization in the chapter 11 case. The Debtors' CCAA stay has been extended to July 25, 2008. (Quebecor World Bankruptcy News, Issue No. 20; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000) SPECTRUM COLOUR: Appoints Liquidators from Tenon Recovery --------------------------------------------------------- I. Cadlock and A. J. Pear of Tenon Recovery were appointed joint liquidators of Spectrum Colour Ltd. on June 27 for the creditors' voluntary winding-up proceeding. The company can be reached at: Tenon Recovery Third Floor Lyndean House 43/46 Queens Road Brighton East Sussex BN1 3XB England SUPER AGURI: Goes Into Liquidation; Eyes Sale of Assets ------------------------------------------------------- William Turner and Geoffrey Kinland of BDO Stoy Hayward were appointed liquidators of Super Aguri F1 Team Ltd., replacing administrators from PKF, David Jetuah writes for Accountancy Age. Accountancy Age says creditors opted to place Super Aguri into liquidation because they could not wait for the business to be sold as a going concern. The liquidators, Accountancy Age relates, are now handling the sale of Super Aguri's assets, some of which are set to be sold on e-bay at the end of the month. The liquidators, however, are eyeing to complete the sale prior to the online auction, Accountancy Age adds. "We are in negotiations with a number of interested parties over the realization of the team's remaining assets to generate as much money as possible for the benefit of all creditors," Mr. Turner told Accountancy Age. As previously reported in the TCR-Europe on May 9, 2008, administrators were called in to seek a buyer for Super Aguri following boss Aguri Suzuki's decision to cease racing activity and withdraw the team from the 2008 FIA Formula One World Championship. Based in Leafield, United Kingdom, Super Aguri F1 Team -- http://www.saf1.co.jp/en/ -- is a Formula One team that competed since 2006 and finished ninth overall in the 2007 constructors� championship. In addition to their two drivers, Anthony Davidson and Takuma Sato, the team employed more than 90 people at the site. WESTON SPIRIT: T. Dixon Leads Liquidation Procedure --------------------------------------------------- T. Dixon of Tenon Recovery was appointed liquidator of Weston Spirit on June 27 for the creditors' voluntary winding-up procedure. The company can be reached at: Weston Spirit c/o Tenon Recovery Clive House Clive Street Bolton BL1 1ET England * Large Companies with Insolvent Balance Sheet ---------------------------------------------- Shareholders Total Working Equity Assets Capital Ticker (US$MM) (US$MM) (US$MM) ------ ----------- ------- -------- AUSTRIA ------- Libro AG (111) 174 (182) BELGIUM ------- Sabena S.A. (86) 2,215 (297) CZECH REPUBLIC -------------- Ceskomoravska Kolben & Danek Praha Holding (89) 192 (2,186) Setuza A.S. (55) 145 (1,120) DENMARK ------- Elite Shipping (28) 101 19 FRANCE ------ Banque Nationale de Paris Guyane BNPG (41) 352 N.A. BSN Glasspack (101) 1,151 179 Charbo De France (3,872) 4,738 (2,868) Euro Computer System (110) 682 377 Grande Paroisse S.A. (927) 629 330 Immob Hoteliere (67) 301 (13) Matussiere et Forest S.A. MTF (78) 294 (28) Pagesjaunes GRP PAJ (3,023) 1,377 (311) Pneumatiques Kleber S.A. (34) 480 139 SDR Picardie (135) 413 N.A. Soderag (3) 404 N.A. Sofal S.A. (305) 6,619 N.A. Spie-Batignolles (16) 5,281 75 Selcodis S.A. SPVX (9) 134 (26) Trouvay Cauvin (0) 134 10 Usines Chausson (23) 249 35 GERMANY ------- Alno AG ANO (21) 340 (61) Babcock Borsig BBX (1608) 137 (1,309) CBB Holding AG COB (43) 905 N.A. Cinemaxx AG MXC (38) 178 (32) Dortmunder Actien-Brauerei DABG (13) 118 (29) EM.TV AG EV4G.BE (22) 849 15 F.A. Guenther & Son AG GUSG (10) 111 N.A. Kabel Deutschland (1,199) 2,280 (306) Kaufring AG KAUG (19) 151 (51) Maternus Kliniken AG MAK.F (13) 190 (68) Nordsee AG (8) 195 (31) Primacom AG PRC (5) 662 (47) Schaltbau Hold SLT (3) 240 14 SinnLeffers AG WHGG (4) 454 (145) Spar Handels- AG SPAG (442) 1,433 (234) TA Triumph-Adler TWN (72) 462 (53) GREECE ------ Petzetakis-PFC PETZP (8) 263 (98) Radio A.Korassidis KORA (101) 181 (139) Commercial HUNGARY ------- Exbus PLC EXBUS (30) 118 (5,162) ICELAND ------- Decode Genetics Inc. DCGN (146) 156 48 IRELAND ------- Elan Corp PLC ELN (388) 1,599 484 Waterford Wed Ut WTFU (145) 897 208 ITALY ----- A.S. Roma S.p.A. ASR (12) 188 (49) Binda S.p.A. BND (11) 129 (20) Cirio Finanziaria S.p.A. (422) 1,583 (396) Gruppo Coin S.p.A. GC (154) 801 (50) Compagnia Italia ICT (138) 527 (235) Credito Fondiario e Industriale S.p.A. (200) 4,218 N.A. Finpart S.p.A. (152) 732 (322) I Viaggi del Ventaglio S.p.A. VVE (64) 529 (88) Lazio S.p.A. SSL (32) 254 (33) Olcese S.p.A. OLCI.MI (13) 180 (64) Parmalat Finanziaria S.p.A. (18,419) 4,121 (12,481) Snia S.p.A. SN (12) 447 21 Technodiffusione Italia S.p.A. TDIFF.PK (90) 152 (24) NETHERLANDS ----------- Baan Company N.V. BAAN (8) 610 46 United Pan-Euro Air UPC (5,266) 5,180 (8,730) NORWAY ------ Interoil Exploration IOX (9) 205 (11) Petroleum-Geo Services PGO (32) 2,963 (5,250) POLAND ------ Vista Altan VAFK (15) 174 (4) ROMANIA ------- Oltchim RM Valce OLT (7) 673 (417) Rafo Onesti RAF (430) 353 (1,510) RUSSIA ------ East Siberia Brd VSNK (79) 107 (278) Omskij Kauchu OMKA (4) 125 (1,794) OAO Samaraneftegas (332) 892 (16,942) Vimpel Ship SOVP (93) 281 (420) Zil Auto ZILLP (178) 425 (10,597) SPAIN ----- Altos Hornos de Vizcaya S.A. AHV (116) 1,283 (278) Santana Motor S.A. LRSA (46) 223 41 SWITZERLAND ----------- Fortune Management (85) 348 (37) TURKEY ------ Nergis Holding (24) 125 26 Yasarbank (948) 623 N.A. UKRAINE ------- Dniprooblenergo DNON (51) 433 (1,010) Donetskoblenergo DOON (341) 573 (2,365) UNITED KINGDOM -------------- Abbott Mead Vickers (2) 168 (16) Alldays Plc (120) 252 (202) Amey Plc AMY (49) 932 (47) Atkins (WS) Plc ATK (150) 1,390 62 Bagleys Investment (247) 1,094 (126) BCH Group Plc BCH (6) 188 (44) Blenheim Group BEH (153) 198 (34) Booker Plc BKRUY (60) 1,298 (8) Bradstock Group BDK (2) 269 5 Brent Walker Group BWL (1,774) 867 (1,157) British Energy Ltd (5,823) 4,921 290 British Energy Plc BGY (5,823) 4,921 434 British Nuclear Fuels Plc (4,248) 40,326 977 Carlisle Group (12) 204 15 Compass Group CPG (668) 2,972 (298) Dowson Holding DWN (18) 226 31 Dignity Plc DTY (9) 648 35 Easybroker PLC (1) 287 (1) Easynet Group ESY.L (45) 323 38 Electrical and Music Industries Group EMI (2,266) 2,950 (296) Evans Healthcare (86) 239 (144) Global Green Tech Group (156) 408 (18) Imperial Chemical Industries Plc ICI (370) 8,393 2 Ladbrokes Plc LAD (894) 2,139 (356) Lambert Fenchurch Group (1) 1,827 3 Legal & Gen. Fin. (7) 3,576 (522) M 2003 Plc (2,204) 7,205 (756) Misys Plc MSY (7) 1,123 (131) Mytravel Group MT.L (380) 1,818 (488) New Star Asset (418) 368 10 Next Plc (156) 3,224 (63) Norbain Finance (10) 280 (10) Orange Plc ORNGF (594) 2,902 7 Rank Group Plc (26) 1,209 (88) Regus Plc (46) 367 (60) Saatchi & Saatchi SSI (119) 705 (41) SFI Group SUF (108) 178 (162) Skyepharma PLC SKP (117) 212 11 Spirit Group (75) 365 (56) Telewest Communications Plc TLWT (3,702) 7,581 (5,631) Trio Finance TRIO (14) 592 N.A. Wincanton Plc WIN (27) 1,451 (78) ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers' public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than US$3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. A list of Meetings, Conferences and Seminars appears in each Thursday's edition of the TCR. Submissions about insolvency- related conferences are encouraged. Send announcements to conferences@bankrupt.com Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/booksto order any title today. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter -- Europe is a daily newsletter co- published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland USA. Zora Jayda Zerrudo Sala, Pius Xerxes Tovilla, Joy Agravante, Julybien Atadero and Peter A. Chapman, 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 * * *