TCREUR_Public/090226.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

          Thursday, February 26, 2009, Vol. 10, No. 40

                            Headlines

A U S T R I A

ANGERMAIER LLC: Claims Registration Period Ends March 15
FARFELEDER & HARTL: Claims Registration Period Ends March 10
HANS FASSER: Claims Registration Period Ends March 15
KT ENTERTAINMENT: Claims Registration Period Ends March 13
MUXEL LLC: Claims Registration Period Ends March 9

SCHILLER & TROESTER: Claims Registration Period Ends March 10
SIEGWALD PLATZNER: Claims Registration Period Ends March 10
VENETIA LLC: Claims Registration Period Ends March 13


F R A N C E

AMERICAN INT'L: Gets MetLife and Axa Bids for Life Insurance Unit


G E R M A N Y

ANDROMEDEA GMBH: Claims Registration Period Ends March 25
DIWIFA HOLDING: Claims Registration Period Ends March 26
EUROBEL GMBH: Claims Registration Period Ends March 27
FAIR GMBH: Claims Registration Period Ends April 11
ISLE OF SENSES: Claims Registration Period Ends April 3

QIMONDA AG: To Sell Assets as Search for Investors Continues
SERV-CALL GMBH: Claims Registration Period Ends March 23

* GERMANY: Schleswig-Holstein May Go Bankrupt on Troubled Bank


I C E L A N D

LANDSBANKI ISLANDS: In Talks With Banks Over Iceland Stake Sale


I S R A E L

ADVANCED TECHNOLOGY: Receives Non-Compliance Notice From NYSE


K A Z A K H S T A N

DANAYA LLP: Creditors Must File Claims by April 3
GRANTEX A LLP: Creditors Must File Claims by April 3
KEREGE INVEST: Creditors Must File Claims by April 3
KURYLYS LTD: Creditors Must File Claims by April 3
MASTER STROY ALLIANCE: Creditors Must File Claims by April 3

MUNAI GAS COMPLECT: Creditors Must File Claims by April 3
MUNAI GAS SERVICE: Creditors Must File Claims by April 3
NOMAD INVEST: Creditors Must File Claims by April 3
SERVICE-NI LLP: Creditors Must File Claims by April 3
TECH PROM SNUB: Creditors Must File Claims by April 3


K Y R G Y Z S T A N

BISHKEKSKAYA SHVEYNAYA: Creditors Must File Claims by March 20


N O R W A Y

NORDISK MOBILTELEFON: Units Seek Bankruptcy Protection


R U S S I A

AGRO-LES-PROM LLC: Creditors Must File Claims by March 15
ALGOL LLC: Creditors Must File Claims by March 15
CONCRETE PRODUCTS: Creditors Must File Claims by March 15
IMERKOM-AVTO LLC: Creditors Must File Claims by March 15
KORKINSKAYA CONSTRUCTION: Creditors Must File Claims by March 15

PRIOKSKIY COSTRUCTION: Creditors Must File Claims by March 15
PROM-TSENTR LLC: Creditors Must File Claims by April 14
RADUZHNINSKAYA OIL: Creditors Must File Claims by March 15
UKTUS OJSC: Creditors Must File Claims by March 15


S W E D E N

METRO INTERNATIONAL: Receives Buyout Offer; Eyes Refinancing
NORDISK MOBILTELEFON: Units Seek Bankruptcy Protection


S W I T Z E R L A N D

ALLFLOR JSC: Creditors Must File Proofs of Claim by Feb. 28
ART ARENA: Deadline to File Proofs of Claim Set Feb. 28
BRANCHENWEB LLC: Creditors Have Until Feb. 28 to File Claims
DISCOUNTZONE LLC: Proofs of Claim Filing Deadline is Feb. 28
E. WEISS JSC: Creditors' Proofs of Claim Due by Feb. 28

KR CONSULTING: Feb. 28 Set as Deadline to File Claims
LEHMAN BROTHERS: PwC Zurich Wants LB Finance Ch. 11 Case Dismissed
SPM SWISS: Creditors Must File Proofs of Claim by Feb. 28
SWISSVOICE-S-COOL LLC: Deadline to File Claims Set Feb. 28
VALERE MANAGEMENT: Creditors Have Until Feb. 28 to File Claims

VIAND'OR LLC: Proof of Claim Filing Deadline is Feb. 28


U K R A I N E

ADVERTISING AND DESIGNER: Creditors Must File Claims by March 8
CONSTANTA-S LLC: Creditors Must File Claims by March 11
DELTA COMPUTER: Creditors Must File Claims by March 11
GORMASH CJSC: Creditors Must File Claims by March 8
GRANIT LLC: Creditors Must File Claims by March 8

KREPENSKOYE LLC: Court Starts Bankruptcy Supervision Procedure
KUZMENTSY LLC: Court Starts Bankruptcy Supervision Procedure
NOSOVKA SUGAR: Court Starts Bankruptcy Supervision Procedure
SUMY ECOLOGY LLC: Creditors Must File Claims by March 8
YUVIS-COMPANY LLC: Creditors Must File Claims by March 8


U N I T E D   K I N G D O M

AFFINITY CONTRACTS: Appoints Administrators from Grant Thornton
BRADFORD & BINGLEY: Credit Event Not Declared, Bloomberg News Says
BUDELPACK MARCH: BDO Stoy Hayward Named Joint Administrators
CATTLES PLC: Suspends New Lending in Welcome Finance
COMMERCIAL MOTORS: Taps Joint Administrators from Grant Thornton

EASTERN ROAD: Appoints Joint Administrators from Baker Tilly
FAT FACE: Bridgepoint to Inject Fresh Capital
HERONS PARK: Brings In Joint Administrators from Grant Thornton
LAND FOOD: Taps Joint Administrators from PricewaterhouseCoopers
LDV: GBP30 Mln Loan Request to Secure MBO Rejected by UK Gov't

LEWIS HEGEL: Appoints Joint Administrators from PwC
ROBERT CULLEN: Administrator Evaluates Offers
TAWNY TRANSPORT: Calls In Joint Administrators from Grant Thornton
TYREGENICS: Sale Likely Within Months, Company Spokesman Says

* EASTERN EUROPE: UBS Says Concerns on Loan Default "Overdone"

* Upcoming Meetings, Conferences and Seminars


                         *********


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A U S T R I A
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ANGERMAIER LLC: Claims Registration Period Ends March 15
--------------------------------------------------------
Creditors owed money by LLC Angermaier (FN 253382x) have until
March 15, 2009, to file written proofs of claim to the court-
appointed estate administrator:

         Dr. Heimo Hofst=E4tter
         OEG Hofst=E4tter & Kohlfuerst
         Marburgerkai 47
         8010 Graz
         Austria
         Tel: 0316/815454
         Fax 0316/815454-22
         E-mail: advokat@hofstaetter.co.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on March 25, 2009, for the
examination of claims at:

         Graz Land Court by Civil Cases (638)
         Room 222
         Graz
         Austria

Headquartered in Graz, Austria, the Debtor declared bankruptcy on
Jan. 28, 2009, (Bankr. Case No. 26 S 12/09y).


FARFELEDER & HARTL: Claims Registration Period Ends March 10
------------------------------------------------------------
Creditors owed money by OG Farfeleder & Hartl (FN 312526y) have
until March 10, 2009, to file written proofs of claim to the
court-appointed estate administrator:

         Dr. Christine Riess
         Kapuzinergasse 9
         3340 Waidhofen/Ybbs
         Austria
         Tel: 07442/52 22 60
         Fax 07442/52 22 66
         E-mail: kanzlei@rb-anwalt.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:50 a.m. on March 31, 2009, for the
examination of claims at:

         Land Court of St. Poelten (199)
         Room 216
         St. Poelten
         Austria

Headquartered in Waidhofen an der Ybbs, Austria, the Debtor
declared bankruptcy on Jan. 30, 2009, (Bankr. Case No. 14 S
17/09d).


HANS FASSER: Claims Registration Period Ends March 15
-----------------------------------------------------
Creditors owed money by KG Hans Fasser (FN 10925t) have until
March 15, 2009, to file written proofs of claim to the court-
appointed estate administrator:

         Stefan Kohlfuerst
         OEG Kohlfuerst Hofstatter &
         Kohlfuerst Rechtsanwalte
         Marburgerkai 47
         8010 Graz
         Austria
         Tel: 0316/815454
         Fax 0316/815454-22
         E-mail: kohlfuerst@hofstaetter.co.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:15 a.m. on March 25, 2009, for the
examination of claims at:

         Graz Land Court by Civil Cases (638)
         Room 222
         Graz
         Austria

Headquartered in Graz - Liebenau, Austria, the Debtor declared
bankruptcy on Jan. 29, 2009, (Bankr. Case No. 26 S 13/09w).


KT ENTERTAINMENT: Claims Registration Period Ends March 13
----------------------------------------------------------
Creditors owed money by LLC KT Entertainment (FN 216045p) have
until March 13 2009, to file written proofs of claim to the court-
appointed estate administrator:

         Dr. Max Dengg
         Wilhelm-Greil-Strasse 19a
         6020 Innsbruck
         Austria
         Tel: 0512/573900
         Fax 0512/573900-6
         E-mail: office@ra-max-dengg.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on March 27, 2009, for the
examination of claims at:

         Land Court of Innsbruck (818)
         New Building
         Maximilianstrasse 4
         6020 Innsbruck
         Austria

Headquartered in Innsbruck, Austria, the Debtor declared
bankruptcy on Jan. 27, 2009, (Bankr. Case No. 9 S 2/09g).


MUXEL LLC: Claims Registration Period Ends March 9
--------------------------------------------------
Creditors owed money by LLC Muxel (FN 138549z) have until March 9,
2009, to file written proofs of claim to the court-appointed
estate administrator:

         Stefan Aberer
         Rathausstrasse 37
         6900 Bregenz
         Austria
         Tel: 05574/58085
         Fax 05574/58085-8
         E-mail: rechtsanwalt@aberer.at


Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:50 a.m. on March 19, 2009, for the
examination of claims at:

         Land Court of Feldkirch (929)
         Room 45
         First Floor
         Austria


Headquartered in Alberschwende, Austria, the Debtor declared
bankruptcy on Jan. 29, 2009, (Bankr. Case No. 13 S 1/09s).


SCHILLER & TROESTER: Claims Registration Period Ends March 10
-------------------------------------------------------------
Creditors owed money by LLC Schiller & Troester (FN 43670x) have
until March 10, 2009, to file written proofs of claim to the
court-appointed estate administrator:

         Dr. Katharina Widhalm-Budak
         Favoritenstrasse 22/12a
         1040 Wien
         Austria
         Tel: 504 64 08
         Fax 504 64 08 22
         E-mail: widhalm-budak@mitrecht.com


Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:40 a.m. on March 24, 2009, for the
examination of claims at:

         Trade Court of Vienna (007)
         Room 1609
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 28, 2009, (Bankr. Case No. 38 S 2/09k).


SIEGWALD PLATZNER: Claims Registration Period Ends March 10
-----------------------------------------------------------
Creditors owed money by LLC Siegwald Platzner (FN 239579y) have
until March 10, 2009, to file written proofs of claim to the
court-appointed estate administrator:

         Dr. Klaus Fattinger
         Ringmauergasse 8
         9500 Villach
         Austria
         Tel: 04242/22 681
         Fax 04242/22 681-20
         E-mail: prett+fattinger@villach.net >

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on March 17, 2009, for the
examination of claims at:

         Land Court of Klagenfurt (729)
         Room 225
         Klagenfurt
         Austria

Headquartered in Villach, Austria, the Debtor declared bankruptcy
on Jan. 28, 2009, (Bankr. Case No. 40 S 6/09m).


VENETIA LLC: Claims Registration Period Ends March 13
-----------------------------------------------------
Creditors owed money by LLC Venetia (FN 31915i) have until
March 13, 2009, to file written proofs of claim to the court-
appointed estate administrator:

         Dr. Christian Bachmann
         Opernring 8
         1010 Wien
         Austria
         Tel: 512 87 01-Serie
         Fax 513 82 50
         E-mail: bachmann.rae@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:40 a.m. on March 27, 2009, for the
examination of claims at:

         Trade Court of Vienna (007)
         Room 1607
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 28, 2009, (Bankr. Case No. 28 S 8/09v).


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AMERICAN INT'L: Gets MetLife and Axa Bids for Life Insurance Unit
-----------------------------------------------------------------
American International Group Inc. received bids from MetLife Inc.
and Axa SA for its life-insurance unit spanning more than 50
countries, Bloomberg News reports citing three people familiar
with the situation who declined to be identified because
negotiations are private.

According to the report, MetLife made a preliminary offer of
US$11.2 billion for American Life Insurance Co ("Alico").

Meanwhile, a rival bid from Axa excludes operations in Japan,
Alico's biggest market, the people said as cited by Bloomberg
News.

MetLife's offer may drop to about US$8 billion because of
deterioration in the unit's financial condition, Bloomberg News's
sources said.

"All the life insurers are pretty much suffering right now," the
news agency quoted Alan Rambaldini, an analyst at Morningstar
Inc., as saying.  "Before this whole financial crisis happened,
that unit of AIG was considered one of their best ones.  Under
normal circumstances there would probably be a lot more interest
than just two companies."

                            About AIG

Based in New York, American International Group, Inc. (AIG) is the
leading international insurance organization with operation in
more than 130 countries and jurisdictions.  AIG companies serve
commercial, institutional and individual customers through the
most extensive worldwide property-casualty and life insurance
networks of any insurer.  In addition, AIG companies are leading
providers of retirement services, financial services and asset
management around the world.  AIG's common stock is listed on the
New York Stock Exchange, as well as the stock exchanges in Ireland
and Tokyo.

During the third quarter of 2008, requirements to post collateral
in connection with AIG Financial Products Corp.'s credit default
swap portfolio and other AIGFP transactions and to fund returns of
securities lending collateral placed stress on AIG's liquidity.
AIG's stock price declined from US$22.76 on Sept. 8, 2008, to
US$4.76 on Sept. 15, 2008.  On that date, AIG's long-term debt
ratings were downgraded by Standard & Poor's, a division of The
McGraw-Hill Companies, Inc., Moody's Investors Service and Fitch
Ratings, which triggered additional requirements for liquidity.
These and other events severely limited AIG's access to debt and
equity markets.

On Sept. 22, 2008, AIG entered into an US$85 billion revolving
credit agreement with the Federal Reserve Bank of New York and,
pursuant to the Fed Credit Agreement, AIG agreed to issue 100,000
shares of Series C Perpetual, Convertible, Participating Preferred
Stock to a trust for the benefit of the United States Treasury.
At Sept. 30, 2008, amounts owed under the facility created
pursuant to the Fed Credit Agreement totaled US$63 billion,
including accrued fees and interest.

Since Sept. 30, AIG has borrowed additional amounts under the
Fed Facility and has announced plans to sell assets and businesses
to repay amounts owed in connection with the Fed Credit Agreement.
In addition, subsequent to Sept. 30, 2008, certain of AIG's
domestic life insurance subsidiaries entered into an agreement
with the NY Fed pursuant to which the NY Fed has borrowed, in
return for cash collateral, investment grade fixed maturity
securities from the insurance subsidiaries.

On Nov. 10, 2008, the U.S. Treasury agreed to purchase, through
its Troubled Asset Relief Program, US$40 billion of newly issued
AIG perpetual preferred shares and warrants to purchase a number
of shares of common stock of AIG equal to 2% of the issued and
outstanding shares as of the purchase date.  All of the proceeds
will be used to pay down a portion of the Federal Reserve Bank of
New York credit facility.  The perpetual preferred shares will
carry a 10% coupon with cumulative dividends.

AIG and the Fed also agreed to revise the existing FRBNY credit
facility.  The loan terms were extended from two to five years to
give AIG time to complete its planned asset sales in an orderly
manner.  The equity interest that taxpayers will hold in AIG,
coupled with the warrants, will total 79.9%.

At Sept. 30, 2008, AIG had US$1.022 trillion in total consolidated
assets and US$950.9 billion in total debts.  Shareholders' equity
was US$71.18 billion, including the addition of US$23 billion of
consideration received for preferred stock not yet issued.


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ANDROMEDEA GMBH: Claims Registration Period Ends March 25
---------------------------------------------------------
Creditors of Andromedea GmbH have until March 25, 2009, to
register their claims with court-appointed insolvency manager.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on May 6, 2009, at which time the
insolvency manager will present his first report.

The meeting of creditors will be held at:

         The District Court of Chemnitz
         Insolvency Tribunal
         Hall 3.011
         Fuerstenstr. 21-23
         09130 Chemnitz
         Germany

Claims set out in the insolvency manager's report will be verified
by the court during this meeting.  Creditors may also constitute a
creditors' committee or opt to appoint a new insolvency manager.

The insolvency manager can be reached at:

         Markus M. Merbecks
         Leipziger Str. 58
         09113 Chemnitz
         Germany
         Tel: 0371 444610
         Fax: 0371 4446111
         E-mail: merbecks@merbecks.de

The District Court opened bankruptcy proceedings against the
company on Feb. 11, 2009.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be reached at:

         Andromedea GmbH
         Attn: Falk Schwarzenberg, Manager
         Oberfrohnaer Str. 70,
         09117 Chemnitz
         Germany


DIWIFA HOLDING: Claims Registration Period Ends March 26
--------------------------------------------------------
Creditors of Diwifa Holding GmbH have until March 26, 2009, to
register their claims with court-appointed insolvency manager.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on May 7, 2009, at which time the
insolvency manager will present his first report.

The meeting of creditors will be held at:

         The District Court of Dresden
         Hall D132
         Olbrichtplatz 1
         01099 Dresden
         Germany

Claims set out in the insolvency manager's report will be verified
by the court during this meeting.  Creditors may also constitute a
creditors' committee or opt to appoint a new insolvency manager.

The insolvency manager can be reached at:

         Dr. Ralf Goethner
         Wasastrasse 15
         01219 Dresden
         Germany
         Web site: www.hww-kanzlei.de

The District Court opened bankruptcy proceedings against the
company on Feb. 12, 2009.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be reached at:

         Diwifa Holding GmbH
         Ammonstrasse 72
         01067 Dresden
         Germany
         Attn: Helena Wieland, Manager
         Geboren 1970
         Brunnenstr. 7 a
         73312 Geislingen an der Steige
         Germany


EUROBEL GMBH: Claims Registration Period Ends March 27
------------------------------------------------------
Creditors of Eurobel GmbH have until March 27, 2009, to register
their claims with court-appointed insolvency manager.

Creditors and other interested parties are encouraged to attend
the meeting at 10:10 a.m. on April 29, 2009, at which time the
insolvency manager will present his first report.

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

Claims set out in the insolvency manager's report will be verified
by the court during this meeting.  Creditors may also constitute a
creditors' committee or opt to appoint a new insolvency manager.

The insolvency manager can be reached at:

         Joern Weitzmann
         Arnold-Heise-Strasse 9
         20249 Hamburg
         Switzerland

The District Court opened bankruptcy proceedings against the
company on RD.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Eurobel GmbH
         Attn: Wolf Julius Boettcher, Manager
         Oberhafenstrasse 1
         20097 Hamburg
         Germany


FAIR GMBH: Claims Registration Period Ends April 11
---------------------------------------------------
Creditors of Fair GmbH have until April 11, 2009, to register
their claims with court-appointed insolvency manager.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on May 5, 2009, at which time the
insolvency manager will present his first report.

The meeting of creditors will be held at:

         The District Court of Bad Kreuznach
         Hall A4
         Hofgartenstr. 2
         55545 Bad Kreuznach
         Germany

Claims set out in the insolvency manager's report will be verified
by the court during this meeting.  Creditors may also constitute a
creditors' committee or opt to appoint a new insolvency manager.

The insolvency manager can be reached at:

         Dr. Hans-Gert Dhonau
         Bahnhofstr. 7
         D 55566 Bad Sobernheim
         Germany
         Tel: 06751/938013
         Fax: 06751/9380-36

The District Court opened bankruptcy proceedings against the
company on Feb. 5, 2009.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be reached at:

         Fair GmbH
         Attn: Wolfgang M=FCrlebach, Manager
         Kreuznacher Str. 71
         55595 Weinsheim
         Germany


ISLE OF SENSES: Claims Registration Period Ends April 3
-------------------------------------------------------
Creditors of Isle of Senses GmbH Cosmetics Wellness & Beratung
have until April 3, 2009, to register their claims with court-
appointed insolvency manager.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on April 29, 2009, at which time the
insolvency manager will present his first report.

The meeting of creditors will be held at:

         The District Court of Meiningen
         Hall 105
         Lindenallee 15
         Meiningen
         Germany

Claims set out in the insolvency manager's report will be verified
by the court during this meeting.  Creditors may also constitute a
creditors' committee or opt to appoint a new insolvency manager.

The insolvency manager can be reached at:

         Goerge Scheid
         Anger 10
         99084 Erfurt
         Germany

The District Court opened bankruptcy proceedings against the
company on Feb. 12, 2009.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be reached at:

         Isle of Senses GmbH Cosmetics Wellness & Beratung
         Attn: Diana Sollmann and
               Marijan von de Kolk, Managers
         Gustav-Koenig-Str. 20
         96515 Sonneberg
         Germany


QIMONDA AG: To Sell Assets as Search for Investors Continues
------------------------------------------------------------
Qimonda AG said Monday that sale of investments is being prepared
in parallel with the search for investors in order to generate
liquidity to continue running the core business.

Qimonda management and a team working for the preliminary
insolvency administrator Dr. Michael Jaff=E9 have been holding
concrete discussions with numerous international interested
parties.  The aim is to have firm offers submitted as soon as
possible.

Qimonda, however, noted that even if the search for an investor is
successful, further restructuring measures and redundancies cannot
be ruled out.  Qimonda disclosed preliminary talks with the works
councils in Dresden and Munich will begin this week in order to
discuss the procedures for potential transitional or employee
outplacement companies and support for the employees affected.
The employees received statutory insolvency payments for the month
of January in mid-February; the payment for the month of February
is due in March.  The employees are to receive salary payments
from the statutory insolvency regime up to and including the month
of March.

According to Qimonda, the governments of Saxony, Bavaria, Germany,
Portugal and the European Union have signaled their willingness to
participate in the financing if necessary, when Qimonda has found
an investor for the company.

Qimonda reiterated a solution involving new investors must be
found by end of March in order to assure the continuation of
operations.  No final decisions have yet been taken concerning the
future structure of the company, including whether those of its
businesses that can be continued will be held through Qimonda AG
or placed in a new company owned by new investors.  In the latter
case, or if investors cannot be found to finance the continuation
of Qimonda's businesses, Qimonda AG would likely be liquidated.

As reported in the Troubled Company Reporter, Qimonda AG filed an
application with the local court in Munich, Germany, on
January 23, 2009, to open insolvency proceedings.  Their goal is
to reorganize the companies as part of the ongoing restructuring
program.

According to Bloomberg News, Qimonda filed for insolvency after a
plan announced in December for a loan of EUR325 million
(US$418 million) from the German state of Saxony, Infineon
Technologies AG, Europe's second-largest maker of semiconductors,
and an unidentified Portuguese bank wasn't completed in time.

Qimonda AG (NYSE: QI) -- http://www.qimonda.com/-- is a leading
global memory supplier with a diversified DRAM product portfolio.
The company generated net sales of EUR1.79 billion in financial
year 2008 and had -- prior to its announcement of a repositioning
of its business --  approximately 12,200 employees worldwide, of
which 1,400 were in Munich, 3,200 in Dresden and 2,800 in Richmond
(Virginia, USA).  The company provides DRAM products with a focus
on infrastructure and graphics applications, using its power
saving technologies and designs.  Qimonda is an active innovator
and brings high performance, low power consumption and small chip
sizes to the market based on its breakthrough Buried Wordline
technology.


SERV-CALL GMBH: Claims Registration Period Ends March 23
--------------------------------------------------------
Creditors of Serv-Call GmbH have until March 23, 2009, to register
their claims with court-appointed insolvency manager.

Creditors and other interested parties are encouraged to attend
the meeting at 9:40 a.m. on April 20, 2009, at which time the
insolvency manager will present his first report.

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

Claims set out in the insolvency manager's report will be verified
by the court during this meeting.  Creditors may also constitute a
creditors' committee or opt to appoint a new insolvency manager.

The insolvency manager can be reached at:

         Dr. Achim Ahrendt
         Albert-Einstein-Ring 11/15
         22761 Hamburg
         Germany

The District Court opened bankruptcy proceedings against the
company on Feb. 11, 2009.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be reached at:

         Serv-Call GmbH
         Attn: Dieter Buege, Manager
         Vierenkamp 13
         22453 Hamburg
         Germany


* GERMANY: Schleswig-Holstein May Go Bankrupt on Troubled Bank
--------------------------------------------------------------
The German state of Schleswig- Holstein may seek bankruptcy
protection as its public bank HSH Nordbank AG suffers from
financial constraint, Bloomberg News reports citing a Bild report.

According to the report, Bild newspaper said the state governments
in Schleswig-Holstein and Hamburg are discussing plans to provide
the bank with EUR3 billion in capital and EUR10 billion in
guarantees.

The report relates Bild cited Wolfgang Kubicki, chairman of the
Free Democratic parliamentary group, as saying HSH Nordbank may
need another EUR3 billion euros at the end of 2009, adding if no
support will come, Schleswig-Holstein will end up "like Iceland."


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I C E L A N D
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LANDSBANKI ISLANDS: In Talks With Banks Over Iceland Stake Sale
---------------------------------------------------------------
Helen Power at Times Online reported Friday last week that
Landsbanki Islands hf has met with investments banks in the past
two weeks to discuss a possible sale of its 14% stake in Iceland
Food Group.

According to the report, the bank have had discussions about the
sale with JPMorgan, NM Rothschild and others.

The report notes a spokesman for Landsbanki maintained that the
bank had no immediate plans to sell its stake in Iceland.

"Our aim remains to maximize the long-term value of share-
holdings," the report quoted the spokesman as saying.

However, sources close to Landsbanki said that the bank is
considering a quick sale of the food chain.

PwC, administrator of BG Holdings =96 the Baugur subsidiary that
owns its stakes in Iceland, House of Fraser, Hamleys and Aurum =96 ,
reiterated there will be no fire sale of Landsbanki's assets,
although he noted the chain would be very attractive to bidders,
the report relates.

                        About Landsbanki

Headquartered in Reykjavik, Iceland, Landsbanki Islands hf. --
http://www.landsbanki.is/-- is a financial institution.  The Bank
filed for Chapter 15 protection on Dec. 9, 2008 (Bankr. S.D. N.Y.
Case No.: 08-14921).  Gary S. Lee, Esq., at Morrison & Foerster
LLP, represents the Debtor.  When it filed for protection from its
creditors, it listed assets and debts of more than US$1 billion
each.


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I S R A E L
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ADVANCED TECHNOLOGY: Receives Non-Compliance Notice From NYSE
-------------------------------------------------------------
Advanced Technology Acquisition Corp. received on February 10,
2009, a notice from NYSE Alternext US LLC indicating that the
Company was not in compliance with Section 704 of the NYSE
Alternext US LLC Company Guide because it did not hold an annual
meeting of its stockholders during 2008.

To maintain its Exchange listing, the Company must submit a plan
of compliance by March 10, 2009, advising the Exchange of action
it has taken, or will take, that would bring it into compliance
with Section 704 of the Company Guide by August 11, 2009.  The
Corporate Compliance Department of the Exchange will evaluate the
plan and make a determination as to whether the Company has made a
reasonable demonstration in the plan of an ability to regain
compliance with the continued listing standards by August 11,
2009, in which case the plan will be accepted.

If the plan is accepted, the Company may be able to continue its
listing during the plan period up to August 11, 2009, during which
time it will be subject to periodic review to determine whether it
is making progress consistent with the plan.  If the Company does
not submit a plan, if the Company submits a plan that is not
accepted or if the plan is accepted but the Company is not in
compliance with the continued listing standards at the conclusion
of the plan period or does not make progress consistent with the
plan during the plan period, the Company may become subject to
delisting proceedings in accordance with Section 1010 and Part 12
of the Company Guide.

The Company intends to submit a plan to the Exchange, but has not
yet determined what action it will take in response to the notice.

Based in Ramat Gan, Israel, Advanced Technology Acquisition Corp.
is a blank check company formed for the purpose of effecting a
merger, capital stock exchange, asset acquisition, stock purchase
or other similar business combination with a technology or
technology-related business that has operations or facilities
located in Israel, such as research and development, manufacturing
or executive offices.


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K A Z A K H S T A N
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DANAYA LLP: Creditors Must File Claims by April 3
-------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty has
declared LLP Construction Company Danaya insolvent.

Creditors have until April 3, 2009, to submit written proofs of
claim to:

         Baizakov St. 273b
         Almaty
         Kazakhstan

The Court is located at:

         The Specialized Inter-Regional
         Economic Court of Almaty
         Baizakov St. 273b
         Almaty
         Kazakhstan


GRANTEX A LLP: Creditors Must File Claims by April 3
----------------------------------------------------
The Specialized Inter-Regional Economic Court of Astana has
declared LLP Grantex A insolvent.

Creditors have until April 3, 2009, to submit written proofs of
claim to:

         The Specialized Inter-Regional
         Economic Court of Astana
         Abai Ave. 36
         Astana
         Kazakhstan


KEREGE INVEST: Creditors Must File Claims by April 3
----------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty has
declared LLP Kerege Invest insolvent.

Creditors have until April 3, 2009, to submit written proofs of
claim to:

         Kablis Jyrau St. 69a
         Taldykorgan
         Almaty
         Kazakhstan

The Court is located at:

         The Specialized Inter-Regional
         Economic Court of Almaty
         Tauelsyzdyk St. 53
         Taldykorgan
         Almaty
         Kazakhstan


KURYLYS LTD: Creditors Must File Claims by April 3
--------------------------------------------------
LLP Aktobe Kurylys Ltd has declared insolvency.  Creditors have
until April 3, 2009, to submit written proofs of claim to:

         Eset-Batyr St. 142-63
         Aktobe
         Aktube
         Kazakhstan


MASTER STROY ALLIANCE: Creditors Must File Claims by April 3
------------------------------------------------------------
LLP Master Stroy Alliance has declared insolvency.  Creditors have
until April 3, 2009, to submit written proofs of claim to:

         312 Strelkovaya Deviziya St. 36
         Aktobe
         Aktube
         Kazakhstan


MUNAI GAS COMPLECT: Creditors Must File Claims by April 3
---------------------------------------------------------
The Specialized Inter-Regional Economic Court of Aktube has
declared LLP Munai Gas Complect Com insolvent.

Creditors have until April 3, 2009, to submit written proofs of
claim to:

         Altynsarin St. 31
         Aktobe
         Aktube
         Kazakhstan

The Court is located at:

         The Specialized Inter-Regional Economic Court of Aktube
         Satpayev St. 16
         Aktobe
         Aktube
         Kazakhstan


MUNAI GAS SERVICE: Creditors Must File Claims by April 3
--------------------------------------------------------
LLP Munai Gas Service Group has declared insolvency.  Creditors
have until April 3, 2009, to submit written proofs of claim to:

         Abylai Han Ave. 58a
         Almaty
         Kazakhstan


NOMAD INVEST: Creditors Must File Claims by April 3
---------------------------------------------------
LLP Nomad Invest (RNN 600900577053) has declared insolvency.
Creditors have until April 3, 2009, to submit written proofs of
claim to:

          Kunaev St. 130/31
          050010 Almaty
          Kazakhstan


SERVICE-NI LLP: Creditors Must File Claims by April 3
-----------------------------------------------------
LLP Techno Prom Service-Ni has declared insolvency.  Creditors
have until April 3, 2009, to submit written proofs of claim to:

         Micro district 10, 15-16
         Almaty
         Kazakhstan


TECH PROM SNUB: Creditors Must File Claims by April 3
-----------------------------------------------------
LLP Tech Prom Snub has declared insolvency.  Creditors have until
April 3, 2009, to submit written proofs of claim to:

         Ryskulov St. 1-2
         Almaty
         Kazakhstan


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K Y R G Y Z S T A N
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BISHKEKSKAYA SHVEYNAYA: Creditors Must File Claims by March 20
--------------------------------------------------------------
OJSC Bishkekskaya Shveynaya Fabrika Im Vlksm (Bishkek Garment
Factory by Vlksm) has declared insolvency.

Creditors have until March 20, 2009, to submit written proofs of
claim.

Inquiries can be addressed to (+996 312) 32-45-77, (+996 312) 32-
48-45.


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N O R W A Y
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NORDISK MOBILTELEFON: Units Seek Bankruptcy Protection
------------------------------------------------------
Two of Nordic CDMA operator Nordisk Mobiltelefon's operating
subsidiaries in Norway and Sweden have filed for bankruptcy after
the companies' reconstruction process which started in December
did not meet expected results, a February 23 report posted on
tmcnet.com's Web site said.

According to the report, the subsidiaries, Nordisk Mobiltelefon
Norge AS and Nordisk Mobiltelefon Sverige AB, have started
bankruptcy proceedings and a formal filing is expected to take
place within a few days.

The report relates financial situation of the other companies in
the group is currently under evaluation by the respective board of
directors.

Nordisk Mobiltelefon offers mobile voice and data services under
the brand name Ice.net in the Nordic region and also holds
frequency licences in Poland, Ireland and Iceland, the report
discloses.


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R U S S I A
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AGRO-LES-PROM LLC: Creditors Must File Claims by March 15
---------------------------------------------------------
Creditors of LLC Agro-Les-Prom (Forestry) have until March 15,
2009, to submit proofs of claims to:

         N. Shadrin
         Insolvency Manager
         Post User Box 3454
         640026 Kurgan
         Russia

The Arbitration Court of Kurganskaya commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A34-7217/2008.


ALGOL LLC: Creditors Must File Claims by March 15
-------------------------------------------------
Creditors of LLC Algol (TIN 5902814487) (Construction) have until
March 15, 2009, to submit proofs of claims to:

         O. Shelyakin
         Temporary Insolvency Manager
         Post User Box 6854
         614068 Perm'
         Russia
         Tel: 342-236-84-92

The Arbitration Court of Perm' commenced bankruptcy supervision
procedure.  The case is docketed under Case No. A50=9610985/08-B4.

The Court is located at:

         The Arbitration Court of Perm'
         Lunacharskogo St. 3
         Perm'
         Russia

The Debtor can be reached at:

         LLC Algol
         Sibirskaya St. 5
         Perm'
         Russia


CONCRETE PRODUCTS: Creditors Must File Claims by March 15
---------------------------------------------------------
Creditors of LLC Concrete Products Plant (TIN 7413001640) have
until March 15, 2009, to submit proofs of claims to:

         T. Belousova
         Temporary Insolvency Manager
         Belinskogo St. 34/328
         Yekaterinburg
         Russia

The Arbitration Court of Chelyabinsk commenced bankruptcy
supervision procedure.  The case is docketed under Case No. A76-
23046/2008-34-118.

The Debtor can be reached at:

         LLC Concrete Products Plant
         Gaydara St. 4
         Taykinga
         Kyshtym
         Chelyabinskaya
         Russia


IMERKOM-AVTO LLC: Creditors Must File Claims by March 15
--------------------------------------------------------
Creditors of LLC Imerkom-Avto (TIN 7841341830) (Navigation
Equipment Production) have until March 15, 2009, to submit proofs
of claims to:

         V. Abrazhanov
         Insolvency Manager
         Smolnogo St. 3
         191311 Saint-Petersburg
         Russia

The Arbitration Court of Saint-Petersburg commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A56=968136/2008.

The Debtor can be reached at:

         LLC Imerkom-Avto
         Krasnodonskaya St. 7a
         195027 Saint-Petersburg
         Russia


KORKINSKAYA CONSTRUCTION: Creditors Must File Claims by March 15
----------------------------------------------------------------
Creditors of LLC Kokinskaya Construction Company (TIN
7412010794) have until March 15, 2009, to submit proofs of claims
to:

         A. Stukalov
         Insolvency Manager
         Prospect Lenina 14/16
         454007 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=9622312/2008=9634-114.

The Debtor can be reached at:

         LLC Kokinskaya Construction Company
         Prospect Pobedy 319
         Chelyabinsk
         Russia


PRIOKSKIY COSTRUCTION: Creditors Must File Claims by March 15
-------------------------------------------------------------
Creditors of LLC Priokskiy Construction Materials Plant (TIN
6204005262) have until March 15, 2009, to submit proofs of claims
to:

         A. Kuzovkova
         Temporary Insolvency Manager
         Apt. 13
         Lenoy Pereulok 7
         Sursk
         Russia

The Arbitration Court of Ryazanskaya will convene at 12:40 p.m. on
April 7, 2009, to hear bankruptcy supervision procedure.  The
case is docketed under Case No. A-54=964062/2008S20.

The Debtor can be reached at:

         LLC Priokskiy Construction Materials Plant
         Sovetskaya St. 15
         Kasimov
         391300 Ryazaskaya
         Russia


PROM-TSENTR LLC: Creditors Must File Claims by April 14
-------------------------------------------------------
Creditors of LLC Prom-Tsentr (TIN 7202101452, PSRN
1027200851402) (Pressed Yeasts Production) have until April 14,
2009, to submit proofs of claims to:

         F. Bekshenev
         Insolvency Manager
         Respubliky St. 144
         625026 Tumen
         Russia

The Arbitration Court of Tumen commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A70-4029/3-2008.

The Debtor can be reached at:

         LLC Prom-Tsentr
         Office 106
         Gertsena St. 87
         Tumen
         Russia


RADUZHNINSKAYA OIL: Creditors Must File Claims by March 15
----------------------------------------------------------
Creditors of LLC Raduzhninskaya Oil Drilling Company have until
March 15, 2009, to submit proofs of claims to:

         A. Abakarov
         Temporary Insolvency Manager
         Naberezhnaya St. 7
         452303 Ishimbay
         Russia

The Arbitration Court of Bashkortostan commenced bankruptcy
supervision procedure.  The case is docketed under Case No. A07=96
18693/2008.


UKTUS OJSC: Creditors Must File Claims by March 15
--------------------------------------------------
Creditors of OJSC Uktus (TIN 6664008103) (Construction Materials
Production) have until March 15, 2009, to submit proofs of claims
to:

         E. Chu
         Temporary Insolvency Manager
         Posadskaya St. 21/312
         620086 Yekaterinburg
         Russia
         Tel: 233-75-61
         Fax: 233-75-79

The Arbitration Court of Sverlovskaya commenced bankruptcy
supervision procedure.  The case is docketed under Case No. A60-
41704/08-S11.

The Debtor can be reached at:

         OJSC Uktus
         Novostroya St. 1a
         620024 Yekaterinburg
         Russia


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S W E D E N
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METRO INTERNATIONAL: Receives Buyout Offer; Eyes Refinancing
------------------------------------------------------------
Robert Andrews at paidcontent.co.uk reports that Metro
International, a European freesheet publisher, on Monday said it
has received a buyout offer from an unnamed suitor.

The report relates Metro earlier planned to ask shareholders at a
Tuesday's general meeting to raise money through issuing new
debentures and warrants.  However, on Monday afternoon its
owner Kinnevik received a preliminary indication of interest from
a potential buyer, the report states.

Metro's board, the report notes, is still recommending
shareholders vote for the refinancing as planned.

Metro, the report discloses, warned it "does not have sufficient
working capital for the next 12 months".  The report recalls in
2008 the company, which invested heavily online, posted losses of
GBP20 million.  Its web losses grew by EUR1.6 million to EUR5.45
million (GBP4.84 million) last year from its seven websites in
Sweden, the Netherlands, Denmark, Hungary, while sales dropped 11
percent to EUR295.5 million (GBP262.6 million), the report adds.

According to the report, Metro's free, ad-supported model looks
under threat.

Metro is a Luxembourg-based Swedish company.


NORDISK MOBILTELEFON: Units Seek Bankruptcy Protection
------------------------------------------------------
Two of Nordic CDMA operator Nordisk Mobiltelefon's operating
subsidiaries in Norway and Sweden have filed for bankruptcy after
the companies' reconstruction process which started in December
did not meet expected results, a February 23 report posted on
tmcnet.com's Web site said.

According to the report, the subsidiaries, Nordisk Mobiltelefon
Norge AS and Nordisk Mobiltelefon Sverige AB, have started
bankruptcy proceedings and a formal filing is expected to take
place within a few days.

The report relates financial situation of the other companies in
the group is currently under evaluation by the respective board of
directors.

Nordisk Mobiltelefon offers mobile voice and data services under
the brand name Ice.net in the Nordic region and also holds
frequency licences in Poland, Ireland and Iceland, the report
discloses.


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S W I T Z E R L A N D
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ALLFLOR JSC: Creditors Must File Proofs of Claim by Feb. 28
-----------------------------------------------------------
Creditors owed money by JSC Allflor are requested to file their
proofs of claim by Feb. 28, 2009, to:

         Kurt Treyer
         JSC Treyer Treuhan
         Lautengartenstrasse 14
         4052 Basel
         Switzerland

The company is currently undergoing liquidation in Basel.  The
decision about liquidation was accepted at an extraordinary
shareholders' meeting held on Jan. 8, 2009.


ART ARENA: Deadline to File Proofs of Claim Set Feb. 28
-------------------------------------------------------
Creditors owed money by LLC Art Arena are requested to file their
proofs of claim by Feb. 28, 2009, to:

         Zytrainweg 7
         4437 Waldenburg
         Switzerland

The company is currently undergoing liquidation in Waldenburg.
The decision about liquidation was accepted at an extraordinary
shareholders' meeting held on Dec. 16, 2008.


BRANCHENWEB LLC: Creditors Have Until Feb. 28 to File Claims
------------------------------------------------------------
Creditors owed money by LLC Branchenweb are requested to file
their proofs of claim by Feb. 28, 2009, to:

         Alex Malyano
         Letzistrasse 15
         9015 St. Gallen
         Switzerland

The company is currently undergoing liquidation in Urnasch.  The
decision about liquidation was accepted at an extraordinary
shareholders' meeting held on Jan. 12, 2008.


DISCOUNTZONE LLC: Proofs of Claim Filing Deadline is Feb. 28
------------------------------------------------------------
Creditors owed money by LLC DiscountZone are requested to file
their proofs of claim by Feb. 28, 2009, to:

         Caloro Umberto
         Liquidator
         Landstrasse 41
         8750 Glarus
         Switzerland

The company is currently undergoing liquidation in Nafels.  The
decision about liquidation was accepted at an extraordinary
shareholders' meeting held on Dec. 9, 2008.


E. WEISS JSC: Creditors' Proofs of Claim Due by Feb. 28
-------------------------------------------------------
Creditors owed money by JSC E. Weiss are requested to file their
proofs of claim by Feb. 28, 2009, to:

         JSC Egeli Treuhand
         Teufener Strasse 36
         9000 St. Gallen
         Switzerland

The company is currently undergoing liquidation in St. Margrethen.
The decision about liquidation was accepted at an extraordinary
shareholders' meeting held on Nov. 11, 2008.


KR CONSULTING: Feb. 28 Set as Deadline to File Claims
-----------------------------------------------------
Creditors owed money by LLC KR Consulting are requested to file
their proofs of claim by Feb. 28, 2009, to:

         JSC Egeli Treuhand
         Teufener Strasse 36
         9000 St. Gallen
         Switzerland

The company is currently undergoing liquidation in Rorschach.  The
decision about liquidation was accepted at an extraordinary
shareholders' meeting held on Dec. 8, 2008.


LEHMAN BROTHERS: PwC Zurich Wants LB Finance Ch. 11 Case Dismissed
------------------------------------------------------------------
PricewaterhouseCoopers AG Zurich, the liquidator and foreign
representative of Lehman Brothers Finance AG, asks the U.S.
Bankruptcy Court for the Southern District of New York to dismiss
LBF's Chapter 11 case.

Zurich-based LBF, one of Lehman Brothers Holdings, Inc.'s
subsidiaries, filed for bankruptcy protection on October 3, 2008,
before the U.S. Bankruptcy Court.  LBF was placed under insolvency
proceeding in Switzerland following its bankruptcy filing in the
United States.

Attorney for PwC, Michael Rosenthal, Esq., at Gibson Dunn &
Crutcher LLP, in New York, says that his client has filed a
petition for recognition of LBF's bankruptcy case in Switzerland
as foreign main proceeding under Chapter 15 of the Bankruptcy
Code.

Lehman Brothers Finance AG, also known as Lehman Brothers Finance
SA, filed a petition under Chapter 15 of the U.S. Bankruptcy Code
in the U.S. Bankruptcy Court in Manhattan on February 10, 2009.
Lehman Brothers Finance, a subsidiary of Lehman Brothers Inc.,
listed estimated assets of more than US$1 billion and estimated
liabilities of more than US$1 billion.

"The ancillary case commenced by the chapter 15 petition is the
most efficient, expeditious and appropriate vehicle for
administering LBF's limited assets in the United States," Mr.
Rosenthal says.  He points out that LBF does not have employees
and offices in the U.S. and most of its creditors and assets are
located outside the country.

"Upon recognition of the Swiss bankruptcy as a foreign main
proceeding . . . the chapter 11 case will serve no further
purpose," Mr. Rosenthal says, adding that continuing the case
would merely impose administrative and financial burdens on LBF.

In connection with the proposed dismissal of LBF's chapter 11
case, PwC asks the Court that the lawsuit brought against the
company by a certain Declan Kelly in October 2008 be transferred
to the chapter 15 case.

The Court may conduct a hearing as early as March 11, 2009, to
consider PwC's request.

                     About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers led in the global financial
markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.  Through its team of more than 25,000 employees, Lehman
Brothers offered a full array of financial services in equity and
fixed income sales, trading and research, investment banking,
asset management, private investment management and private
equity.  Its worldwide headquarters in New York and regional
headquarters in London and Tokyo are complemented by a network of
offices in North America, Europe, the Middle East, Latin America
and the Asia Pacific region.  The firm, through predecessor
entities, was founded in 1850.

Lehman filed for chapter 11 bankruptcy Sept. 15, 2008 (Bankr.
S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition listed
US$639 billion in assets and US$613 billion in debts, effectively
making the firm's bankruptcy filing the largest in U.S. history.

Subsidiary LB 745 LLC, submitted a Chapter 11 petition on Sept. 16
(Case No. 08-13600).  Several other affiliates followed
thereafter.

Lehman Brothers Finance AG, also known as Lehman Brothers Finance
SA, filed a petition under Chapter 15 of the U.S. Bankruptcy Code
in the U.S. Bankruptcy Court in Manhattan on February 10, 2009.
Lehman Brothers Finance, a subsidiary of Lehman Brothers Inc.,
listed estimated assets of more than US$1 billion and estimated
liabilities of more than US$1 billion.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On Sept. 19, 2008, the Honorable Gerard E. Lynch, Judge of the
United States District Court for the Southern District of New
York, entered an order commencing liquidation of Lehman Brothers,
Inc., pursuant to the provisions of the Securities Investor
Protection Act in the case captioned Securities Investor
Protection Corporation v. Lehman Brothers Inc., Case No. 08-CIV-
8119 (GEL).  James W. Giddens has been appointed as trustee for
the SIPA liquidation of the business of LBI

Barclays Bank Plc has agreed, subject to U.S. Court and relevant
regulatory approvals, to acquire Lehman Brothers' North American
investment banking and capital markets operations and supporting
infrastructure for US$1.75 billion.  Nomura Holdings Inc., the
largest brokerage house in Japan, on Sept. 22 reached an agreement
to purchased Lehman Brothers Holdings, Inc.'s operations in Europe
and the Middle East less than 24 hours after it reached a deal to
buy Lehman's operations in the Asia Pacific for US$225 million.
Nomura paid only US$2 dollars for Lehman's investment banking and
equities businesses in Europe, but agreed to retain most of
Lehman's employees.

            International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd. These are currently the only UK incorporated
companies in administration.  Tony Lomas, Steven Pearson, Dan
Schwarzmann and Mike Jervis, partners at PricewaterhouseCoopers
LLP, have been appointed as joint administrators to Lehman
Brothers International (Europe) on Sept. 15, 2008.  The joint
administrators have been appointed to wind down the business.
Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on Sept. 16.  The
two units of Lehman Brothers Holdings, Inc., which has filed for
bankruptcy protection in the U.S. Bankruptcy Court for the
Southern District of New York, have combined liabilities of
JPY4 trillion -- US$38 billion).  Lehman Brothers Japan Inc.
reported about JPY3.4 trillion (US$33 billion) in liabilities in
its petition.  Akio Katsuragi, a former Morgan Stanley executive,
runs Lehman's Japan units.

Lehman Brothers Asia Limited, Lehman Brothers Securities Asia
Limited and Lehman Brothers Futures Asia Limited have suspended
its operations with immediate effect, including ceasing to trade
on the Hong Kong Securities Exchange and Hong Kong Futures
Exchange, until further notice.  The Asian units' asset management
company, Lehman Brothers Asset Management Limited, will continue
to operate on a business as usual basis.  A further notice
concerning the retail structured products issued by or arranged by
any Lehman Brothers group company will be issued as soon as
possible, a press statement said.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc. and its various
affiliates. (http://bankrupt.com/newsstand/or 215/945-7000)


SPM SWISS: Creditors Must File Proofs of Claim by Feb. 28
---------------------------------------------------------
Creditors owed money by JSC Spm Swiss Portfolio are requested to
file their proofs of claim by Feb. 28, 2009, to:

         Bernhard Muhlestein
         Liquidator
         Company Arnold Wehinger Kaelin & Ferrari
         Riesbachstrasse 52
         8008 Zurich
         Switzerland

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


SWISSVOICE-S-COOL LLC: Deadline to File Claims Set Feb. 28
----------------------------------------------------------
Creditors owed money by LLC SwissVoice-S-cool are requested to
file their proofs of claim by Feb. 28, 2009, to:

         LLC Breu Treuhand
         St. Jakobstrasse 37
         9000 St. Gallen
         Switzerland

The company is currently undergoing liquidation in St. Gallen.
The decision about liquidation was accepted at an extraordinary
shareholders' meeting held on Jan. 6, 2009.


VALERE MANAGEMENT: Creditors Have Until Feb. 28 to File Claims
--------------------------------------------------------------
Creditors owed money by LLC Valere Management Beratung are
requested to file their proofs of claim by Feb. 28, 2009, to:

         Daniel Werren
         Hochstrass 5B
         3065 Bolligen
         Switzerland

The company is currently undergoing liquidation in Bolligen.  The
decision about liquidation was accepted at an extraordinary
shareholders' meeting held on Dec. 18, 2008.


VIAND'OR LLC: Proof of Claim Filing Deadline is Feb. 28
--------------------------------------------------------
Creditors owed money by LLC Viand'or are requested to file their
proofs of claim by Feb. 28, 2009, to:

         Bahnhofstrasse 4
         6403 Kussnacht a.R.
         Switzerland

The company is currently undergoing liquidation in Kussnacht SZ.
The decision about liquidation was accepted at an extraordinary
shareholders' meeting held on Nov. 26, 2008.


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U K R A I N E
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ADVERTISING AND DESIGNER: Creditors Must File Claims by March 8
---------------------------------------------------------------
Creditors of LLC Advertising and Designer Group (EDRPOU 23393166)
have until March 8, 2009, to submit proofs of claim to Insolvency
Manager V. Kizlenko.

The Economic Court of Kiev has begun bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No 43/271.

The Court is located at:

         The Economic Court of Kiev
         B. Hmelnitskiy street 44-b
         01030 Kiev
         Ukraine

The Debtor can be reached at:

         LLC Advertising and Designer Group
         Pobeda avenue 67
         03062 Kiev
         Ukraine


CONSTANTA-S LLC: Creditors Must File Claims by March 11
-------------------------------------------------------
Creditors of LLC Constanta-S (EDRPOU 33940460) have until
March 11, 2009, to submit proofs of claim to:

         A. Finko
         Insolvency Manager
         Ovrazhnaya St. 29
         Donetsk
         Ukraine

The Economic Court of Kiev has begun bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No 15/67-b.

The Court is located at:

         The Economic Court of Kiev
         B. Hmelnitskiy street 44-b
         01030 Kiev
         Ukraine

The Debtor can be reached at:

         LLC Constanta-S
         Office 43
         Grushevsky St. 28/2
         01021 Kiev
         Ukraine


DELTA COMPUTER: Creditors Must File Claims by March 11
------------------------------------------------------
Creditors of LLC Delta Computer (EDRPOU 33940460) have until
March 11, 2009, to submit proofs of claim to:

         A. Finko
         Insolvency Manager
         Ovrazhnaya St. 29
         Donetsk
         Ukraine

The Economic Court of Kiev has begun bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No 15/58-b.

The Court is located at:

         The Economic Court of Kiev
         B. Hmelnitskiy street 44-b
         01030 Kiev
         Ukraine

The Debtor can be reached at:

         LLC Delta Computer
         40 Years of October Avenue 100/2
         03127 Kiev
         Ukraine


GORMASH CJSC: Creditors Must File Claims by March 8
---------------------------------------------------
Creditors of CJSC Gormash (EDRPOU 30540229) have until March 8,
2009, to submit proofs of claim to:

         Y. Bagno
         Insolvency Manager
         Trubnikov Avenue 105/3
         Nikopol
         53200 Dnepropetrovsk
         Ukraine

The Economic Court of Dnepropetrovsk has begun bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No B24/139-08.

The Court is located at:

         The Economic Court of Dnepropetrovsk
         Kujbishev St. 1a
         49600 Dnepropetrovsk
         Ukraine

The Debtor can be reached at:

         CJSC Gormash
         Prapornaya St. 1
         49083 Dnepropetrovsk
         Ukraine


GRANIT LLC: Creditors Must File Claims by March 8
-------------------------------------------------
Creditors of LLC GRANIT (EDRPOU 03794029) have until March 8,
2009, to submit proofs of claim to:

         Arbitral Manager A. Bilyk
         Insolvency Manager
         Office 87
         Konev St. 13
         Cherkassy
         Ukraine

The Economic Court of Cherkassy has begun bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No 18/43.
The Court is located at:

         The Economic Court of Cherkassy
         Shevchenko boulevard 307
         18000 Cherkassy
         Ukraine

The Debtor can be reached at:

         LLC Granit
         Lenin St. 21-A
         Glibochek
         Talnovsky
         20440 Cherkassy
         Ukraine


KREPENSKOYE LLC: Court Starts Bankruptcy Supervision Procedure
--------------------------------------------------------------
The Economic Court of Lugansk has begun bankruptcy supervision
procedure on Krepenskoye LLC.

The Temporary Insolvency Manager is:

         H. Bugulian
         Shevchenko q. 17/18
         Lugansk
         Ukraine

The Court is located at:

         The Economic Court of Lugansk
         Great Patriotic War square 3a
         91000 Lugansk
         Ukraine

The Debtor can be reached at:

         Krepenskoye LLC
         Yubileynaya St. 1
         Karpovo-Krepenskoye
         Sverdlovsk
         Lugansk
         Ukraine


KUZMENTSY LLC: Court Starts Bankruptcy Supervision Procedure
------------------------------------------------------------
The Economic Court of Vinnitsa has begun bankruptcy supervision
procedure on Kuzmentsy LLC (EDRPOU 33837304).

The Temporary Insolvency Manager is:

         Arbitral manager S. Malakhov
         Keletskaya St. 126/137
         34560 Vinnitsa
         Ukraine

The Court is located at:

         The Economic Court of Vinnitsa
         Hmelnitsky highway 7
         21036 Vinnitsa
         Ukraine

The Debtor can be reached at:

         Kuzmentsy LLC
         Lenin St. 11
         Kuzmentsy
         Nemirov
         Vinnitsa
         Ukraine


NOSOVKA SUGAR: Court Starts Bankruptcy Supervision Procedure
------------------------------------------------------------
The Economic Court of Chernigov has begun bankruptcy supervision
procedure on OJSC Nosovka Sugar Plant (EDRPOU 00372598).

The Temporary Insolvency Manager is:

         S. Gorbach
         Office 30
         Mir avenue 139
         Chernigov
         Ukraine

The Court is located at:

         The Economic Court of Chernigov
         Mir avenue 20
         14000 Chernigov
         Ukraine

The Debtor can be reached at:

         OJSC Nosovka Sugar Plant
         Zavodskaya St. 2
         Nosovka
         17100 Chernigov
         Ukraine


SUMY ECOLOGY LLC: Creditors Must File Claims by March 8
-------------------------------------------------------
Creditors of LLC Sumy Ecology (EDRPOU 32318716) have until
March 8, 2009, to submit proofs of claim to:

         Arbitral Manager O. Malevany
         Insolvency Manager
         SKD St. 24/2
         40000 Sumy
         Ukraine

The Economic Court of Sumy has begun bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No 8/621-06.

The Court is located at:

         The Economic Court of Sumy
         Shevchenko avenue 18/1
         40011 Sumy
         Ukraine

The Debtor can be reached at:

         LLC Sumy Ecology
         St. 92
         Sumy
         Ukraine


YUVIS-COMPANY LLC: Creditors Must File Claims by March 8
--------------------------------------------------------
Creditors of LLC Trading and Commerce Firm Yuvis-Company (EDRPOU
34870934) have until March 8, 2009, to submit proofs of claim to
Insolvency Manager V. Tabatadze.

The Economic Court of Lugansk has begun bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No 12/4?.

The Court is located at:

         The Economic Court of Lugansk
         Great Patriotic War square 3a
         91000 Lugansk
          Ukraine

The Debtor can be reached at:

         LLC Trading and Commerce Firm Yuvis-Company
         Krym St. 1
         Lugansk
         Ukraine


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U N I T E D   K I N G D O M
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AFFINITY CONTRACTS: Appoints Administrators from Grant Thornton
---------------------------------------------------------------
David Matthews and Les Ross of Grant Thornton UK LLP were
appointed joint administrators of Affinity Contracts Ltd. on
Feb. 12, 2009.

The company can be reached through Grant Thornton UK LLP at:

         Kennet House
         80 Kings Road
         Reading
         Berkshire
         RG1 3BJ
         England


BRADFORD & BINGLEY: Credit Event Not Declared, Bloomberg News Says
------------------------------------------------------------------
John Glover at Bloomberg News, citing an e-mail from the
International Swaps and Derivatives Association, reports that
that on Monday's conference call dealers of credit-default swaps
tied to Bradford & Bingley plc decided not to declare a credit
event.

Bloomberg News relates the U.K. Treasury last week allowed the
bank to defer interest payments on so-called lower-Tier 2 debt
under changes to the terms of its nationalization.

According to Bloomberg News, calling a credit event would have
triggered credit-default-swaps covering the debt.

In a Feb. 20 report, Bloomberg News' Neil Unmack disclosed
analysts said the Treasury's decision to allow the nationalized
bank to defer interest on GBP850 million (US$1.2 billion) of
subordinated bonds will hurt the market for the debt.

The move, Bloomberg News recalled, sent spread wider and raised
concerns that governments may force financial institutions that
received bailouts to defer bond interest payments to protect
taxpayers.

Bloomberg News stated that according to Merrill Lynch & Co. data,
the extra yield investors demand to hold lower Tier 2 debt has
widened 61 basis points this year to 569 basis points more than
government debt.

"It's madness that the government can simply rewrite bond
documentation," Bloomberg News quoted Richard Thomson, a credit
analyst at Henderson Global Investors in London, as saying.  "We
are very disappointed.  It's bad news for Bradford & Bingley
bondholders and it's bad for the bank capital market."

BNP Paribas SA analyst Olivia Frieser, as cited by Bloomberg News,
said in an interview "Clients are feeling increasingly nervous.
Even though we see it as a special situation, it looks as though
the government can do anything it likes."

However, a spokesman for the Treasury maintained the change was
made to provide "flexibility" for the bank and was not an
instruction to Bradford and Bingley to "change its current
practice", Bloomberg News noted.

                          Bonuses

Meanwhile, the bank has said it plans to pay 150 senior and middle
managers GBP1.3 million of deferred bonuses to help retain staff,
Jane Croft of The Financial Times writes.

                      Nationalization

As reported in the TCR-Europe on Oct. 1, 2008, the remaining
assets and liabilities of Bradford & Bingley - principally
comprising its mortgage book, personal loan book, headquarters and
relevant staff, and treasury assets and its wholesale liabilities
- had been taken into public ownership through the transfer to the
Treasury of the company's shares.

Bradford & Bingley's UK and Isle of Man retail deposit business
along with its branch network had been transferred to Abbey
National plc.

The report disclosed following recent turbulence in global
financial markets, Bradford & Bingley found itself under
increasing pressure as investors and lenders lost confidence in
its ability to carry on as an independent institution.  The FSA
determined on September 27 that the firm no longer met its
threshold conditions for operating as a deposit taker under the
Financial Services and Markets Act 2000 and FSA rules.

                    About Bradford & Bingley

Headquartered in Bingley, United Kingdom, Bradford & Bingley plc
-- http://www.bbg.co.uk/-- offers residential mortgages, and
focus on a range of areas providing mortgages for individuals.
It focuses on its savings business and provides a range of
savings products through 197 branches and network of 140 third-
party branch-type agents, by phone, post and Online.


BUDELPACK MARCH: BDO Stoy Hayward Named Joint Administrators
------------------------------------------------------------
Malcolm Cohen and William John Turner of BDO Stoy Hayward LLP were
appointed joint administrators of Budelpack March Ltd. on Feb. 3,
2009.

The company can be reached through BDO Stoy Hayward LLP at:

         Prospect Place
         85 Great North Road
         Hatfield
         Hertfordshire
         AL9 5BS
         England


CATTLES PLC: Suspends New Lending in Welcome Finance
----------------------------------------------------
Jonathan Sibun at The Daily Telegraph reports that Cattles plc has
called in accountancy firm Deloitte to help management review its
provisions against bad loans.

The Daily Telegraph relates Cattles on Monday said it was
suspending lending to new customers in Welcome Finance with
immediate effect in order to preserve cash.  However, the
report notes the unit, which generated 93.5pc of Cattles' GBP70.2
million first-half profit in 2008, will continue to offer renewal
products to existing customers.

The report recalls last Friday, Cattles issued a profit warning,
sending its shares down 74pc to 3-1/2p.  The company, the report
notes, admitted it does not know how many bad loans it has on its
books.  The report adds the company also delayed releasing its
full-year results, previously scheduled today, Feb. 26.

The report states it is understood that Cattles' auditor,
PricewaterhouseCoopers, wanted greater clarity on the extent of
impairments before the results were published.

According to the report, the review is likely to take a few weeks,
with the full-year results published afterwards.

In an earlier report, the Daily Telegraph disclosed James
Hamilton, an analyst at Numis Securities, indicated a debt-for-
equity swap was becoming inevitable.

Mr. Hamilton, as cited by the report, said the company, which has
more than 42pc of ts loan book in arrears or under re-negotiation,
has nothing worth selling.

"They are very late to recognize impairments," Mr. Hamilton was
quoted by the report as saying.  "I find it difficult to see how
it can survive in its current form."

Cattles plc -- http://www.cattles.co.uk/-- provides financial
services to consumers and businesses.  The company has three
principal businesses, these being Welcome Financial Services, The
Lewis Group and Cattles Invoice Finance.

                          *     *     *

As reported in the TCR-Europe Feb. 24, 2009, Fitch Ratings
downgraded Cattles PLC's Long-term Issuer Default Rating to 'B'
from 'B+' and downgraded its senior unsecured debt to 'B' from
'BB-' (BB minus).  Both ratings remain on Rating Watch Negative.

The downgrades follow Cattles' announcement that it has delayed
the publication of its 2008 financial results, pending a review of
the adequacy of its impairment charges.  This development is a
concern and could weaken the company's position at a time when it
is engaged in refinancing discussions with various banks relating
to a GBP500 million syndicated loan that matures in July 2009 and
a GBP135 million bilateral bank line due in December.


COMMERCIAL MOTORS: Taps Joint Administrators from Grant Thornton
----------------------------------------------------------------
Nigel Morrison and Alistair Wardell of Grant Thornton UK LLP were
appointed joint administrators of Commercial Motors (South West)
Ltd. on Feb. 6, 2009.

The company can be reached through/at

         Commercial Motors (South West) Ltd.
         21 Gold Tops
         Newport
         P20 4PG
         England


EASTERN ROAD: Appoints Joint Administrators from Baker Tilly
------------------------------------------------------------
John David Ariel and Andrew White of Baker Tilly Restructuring and
Recovery LLP were appointed joint administrators of Eastern Road
Trading Ltd. on Feb. 10, 2009.

The company can be reached at:

         Eastern Road Trading Ltd.
         Globe House
         Eclipse Park
         Sittingbourne Road
         Maidstone
         Kent
         ME14 3EN
         England


FAT FACE: Bridgepoint to Inject Fresh Capital
---------------------------------------------
Helia Ebrahimi at The Daily Telegraph reports that private equity
Bridgepoint group is to inject fresh capital into Fat Face to
avert a covenant breach.

Fat Face, the report discloses, faces a covenant test this week.

The report recalls last year Bridgepoint bought back some of the
loans held against the group to reduce the burden of its
borrowings.  In September, it was reported the company's debt
stood at GBP168.2 million after Bridegpoint and Fat Face's
management bought GBP21.8 million of debt for just GBP12.2
million, the report relates.

However, according to the report, at the end of 2008 company
results sent to its lenders showed that Fat Face came close to
breaching the terms of its loan agreement.  It is now likely to
call on the GBP4.6 million it has locked in a "equity cure" fund,
the report states.

Headquartered in Hampshire, Fat Face -- http://www.fatface.com/--
sells active sports clothing.  It has more than 140 stores across
the United Kingdom.


HERONS PARK: Brings In Joint Administrators from Grant Thornton
---------------------------------------------------------------
David Dunckley and David Thurgood of Grant Thornton UK LLP were
appointed joint administrators of Herons Park LLP on Feb. 12,
2009.

The company can be reached at:

         Herons Park LLP
         Dengemarsh Road
         Lydd
         Kent
         TN29 9JH
         England


LAND FOOD: Taps Joint Administrators from PricewaterhouseCoopers
----------------------------------------------------------------
Mark David Arthur Loftus and Ian David Green of
PricewaterhouseCoopers LLP were appointed joint administrators of
Land Food Products Ltd. on Feb. 11, 2009.

The company can be reached at:

         32 Copenhagen Road
         Sutton Fields Industrial Estate,
         Hull
         East Yorkshire
         HU7 0XQ
         England


LDV: GBP30 Mln Loan Request to Secure MBO Rejected by UK Gov't
--------------------------------------------------------------
Jim Pickard, Jonathan Guthrie and Catherine Belton at The
Financial Times report that the government on Monday turned down a
request from Russian oligarch Oleg Derispaksa's Gaz group for a
GBP30 million bridging loan to secure a management buy-out of
Birmingham-based van maker LDV.

The FT relates Erik Eberhardson, chairman of Gaz and leader of the
proposed buy-out, warned the factory, which employs 850 people,
would close "in days rather than weeks" without public support.

LDV, which has been loss-making for four years, halted production
in December, the FT recalls.  The company, The Daily Telegraph
notes, racked up losses of GBP25 million last year.  The FT adds
sales of the company fell 42% compared with the previous year.

However, Gordon Brown's spokesman said Monday it was the
responsibility of Mr. Derispaka to rescue LDV.

"In the first instance, it must look to its parent company to put
up the funding," the FT quoted the spokesman as saying.  "The
British taxpayer cannot be expected to pay for the company=92s
losses."

In a separate report the FT discloses Business Secretary Lord
Mandelson said the government could not consider LDV's request for
an urgent GBP30 million bridging loan without Gaz "coming forward
and demonstrating their commitment to the company".

The business secretary, as cited by the FT, said a GBP24 million
government loan to LDV remained unpaid, yet the taxpayer was being
asked to "step up to the plate" in part to meet trading losses.

However, Gaz's chair maintained "there is a viable long-term
future" for LDV, the FT states.


LEWIS HEGEL: Appoints Joint Administrators from PwC
---------------------------------------------------
Mark David Arthur Loftus and Ian David Green of
PricewaterhouseCoopers LLP were appointed joint administrators of
Lewis Hegel Ltd. on Feb. 11, 2009.

The company can be reached at:

         32 Copenhagen Road
         Sutton Fields Industrial Estate,
         Hull
         East Yorkshire
         HU7 0XQ
         England


ROBERT CULLEN: Administrator Evaluates Offers
---------------------------------------------
Liz Wells at packagingnews.co.uk reports that Zolfo Cooper, Robert
Cullen & Son's administrator, is currently assessing all offers
for the business.

The deadline for potential buyers to express their interest passed
on Friday, the report relates.

The report recalls on Feb. 11 Zolfo Cooper's Fraser Gray,
Elizabeth Mackay and Anne O'Keefe were appointed joint
administrators of the company, which continues to trade as a going
concern.

Robert Cullen & Sons produces a range of products including
retail-ready packaging and recycling bins.  It employs 150 people
at its Glasgow facility, the report discloses.


TAWNY TRANSPORT: Calls In Joint Administrators from Grant Thornton
---------------------------------------------------------------
David Matthews and Les Ross of Grant Thornton UK LLP were
appointed joint administrators of Tawny Transport Ltd on Feb. 12,
2009.

The company can be reached through Grant Thornton UK LLP at:

         Kennet House
         80 Kings Road
         Reading
         Berkshire
         RG1 3BJ
         England


TYREGENICS: Sale Likely Within Months, Company Spokesman Says
-------------------------------------------------------------
Claire Churchard at mrw.co.uk reports that a buyer could be found
for cryogenic tyre recycler TyreGenics within months.

According to the report, there have been early interest from
buyers.

The company, the report relates, went into administration on
Jan. 15 after being hit by a "perfect storm" techical difficulties
and an unprecedented market downturn.  Begbies Traynor was
appointed administrator, the report adds.

The report discloses a company spokesman said the plant, which
opened in July 2007, encountered a technical issue developed with
the tyre crumb drying mechanism.  In November, it was decided to
shut down the entire plant and lay off staff as it need to be
upgraded, the report recalls.  However, citing the spokesman, the
report notes it was just after this decision that TryeGenics' main
customer, and venture partner FieldTurf, suffered a 75 per cent
drop in demand for its sports surfaces product, forcing the the
directors put the company into administration.

"If there's a going concern interest, a sale could happen very
quickly [before the six month administration period is complete],"
the report quoted a company spokesman as saying.

Julian Pitts, a partner at Begbies Traynor, as cited by the
report said "We are optimistic that the plant will be sold for
continued operation in South Wales, which should save up to 20
local jobs."


* EASTERN EUROPE: UBS Says Concerns on Loan Default "Overdone"
--------------------------------------------------------------
UBS AG dismissed concerns that east European borrowers will
default on foreign-currency loans as "overdone," Agnes Lovasz at
Bloomberg News reports.

The risk of an east European "financial meltdown" that also
threatens to drag down the western European banking system is
"highly exaggerated, with at least as much hype as hard analysis,"
Jonathan Anderson, economist at UBS in Hong Kong, wrote in a note
to clients obtained by Bloomberg News.

The attention "comes at a time when nothing has really changed in
terms of the underlying regional situation," Mr. Anderson was
quoted by the news agency as saying.

As reported in the Troubled Company Reporter-Europe on Feb. 25,
2009, the World Bank said the prospects for economic growth in the
EU10 countries in 2009
continue to weaken.

According to the World Bank's EU10 Regular Economic Report, the
EU10 economies face the challenges of a dearth of international
liquidity, exposure to vulnerable banks, and collapsing export
markets.  The impact will now be felt strongly in the real economy
as defaults spread and foreclosures creep up, and as unemployment
rises sharply, the bank's report said.

"Compared with emerging markets in East Asia and Latin America, EU
new member states entered the crisis weak, with high public debt
ratios, low foreign exchange reserves, rigid exchange rate
regimes, and banks that depended more on foreign savings than
domestic deposits," said Indermit Gill, World Bank Europe and
Central Asia Chief Economist, who made his comments at a launch of
the latest World Bank EU10 Regular Economic Report in Warsaw,
Poland.

The EU10 countries include: Bulgaria, the Czech Republic, Estonia,
Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and
Slovenia.


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------

Feb. 25-27, 2009
AMERICAN BANKRUPTCY INSTITUTE
    Valcon
       Four Seasons, Las Vegas, Nevada
          Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 2, 2009
ASSOCIATION OF INSOLVENCY AND RESTRUCTURING ADVISORS
    Chicago Regional Conference
       Union League Club of Chicago, Chicago, Illinois
          Contact: 1-541-858-1665; http://www.airacira.org/

Mar. 13, 2009
AMERICAN BANKRUPTCY INSTITUTE
    Bankruptcy Battleground West
       Beverly Wilshire, Beverly Hills, California
          Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 14-16, 2009
AMERICAN BANKRUPTCY INSTITUTE
    Conrad Duberstein Moot Court Competition
       St. John's University School of Law, New York City
          Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 1-4, 2009
AMERICAN BANKRUPTCY INSTITUTE
    27th Annual Spring Meeting
       Gaylord National Resort & Convention Center,
       National Harbor, Md.
          Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 16-19, 2009
COMMERICAL LAW LEAGUE OF AMERICA
    2009 Chicago/Spring Meeting
       Westin Hotel on Michigan Ave., Chicago, Ill.
          Contact: (312) 781-2000; http://www.clla.org/

Apr. 17-18, 2009
NATIONAL ASSOCIATION OF BANKRUPTCY TRUSTEES
    NABT Spring Seminar
       The Peabody, Orlando, Florida
          Contact: http://www.nabt.com/

Apr. 20, 2009
AMERICAN BANKRUPTCY INSTITUTE
    Consumer Bankruptcy Conference
       John Adams Courthouse, Boston, Massachusetts
          Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 27-28, 2009
TURNAROUND MANAGEMENT ASSOCIATION
    Corporate Governance Meetings
       Intercontinental Hotel, Chicago, Illinois
          Contact: www.turnaround.org

Apr. 28-30, 2009
TURNAROUND MANAGEMENT ASSOCIATION
    TMA Spring Conference
       Intercontinental Hotel, Chicago, Illinois
          Contact: www.turnaround.org

May 1, 2009
AMERICAN BANKRUPTCY INSTITUTE
    Nuts and Bolts for Young Practitioners
       Alexander Hamilton Custom House, New York City
          Contact: 1-703-739-0800; http://www.abiworld.org/

May 4, 2009
AMERICAN BANKRUPTCY INSTITUTE
    New York City Bankruptcy Conference
       New York Marriott Marquis, New York City
          Contact: 1-703-739-0800; http://www.abiworld.org/

May 7-8, 2009
RENASSANCE AMERICAN MANAGEMENT, INC.
    6th Annual Conference on
    Distressted Investing - Europe
       The Le Meridien Piccadilly Hotel, London, U.K.
          Contact: 1-903-595-3800 or
                   http://www.renaissanceamerican.com/

May 7-10, 2009
AMERICAN BANKRUPTCY INSTITUTE
    27th Annual Spring Meeting
       Gaylord National Resort & Convention Center
       National Harbor, Maryland
          Contact: http://www.abiworld.org/

May 12-15, 2009
AMERICAN BANKRUPTCY INSTITUTE
    Litigation Skills Symposium
       Tulane University, New Orleans, La.
          Contact: http://www.abiworld.org/

May 14-16, 2009
ALI-ABA
    Chapter 11 Business Reorganizations
       Langham Hotel, Boston, Massachusetts
          Contact: http://www.ali-aba.org

June 11-14, 2009
AMERICAN BANKRUPTCY INSTITUTE
    Central States Bankruptcy Workshop
       Grand Traverse Resort and Spa
          Traverse City, Michigan
             Contact: http://www.abiworld.org/

June 21-24, 2009
INTERNATIONAL ASSOCIATION OF RESTRUCTURING, INSOLVENCY &
    BANKRUPTCY PROFESSIONALS
       8th International World Congress
          TBA
             Contact: http://www.insol.org/

July 16-19, 2009
AMERICAN BANKRUPTCY INSTITUTE
    Northeast Bankruptcy Conference
       Mt. Washington Inn
          Bretton Woods, New Hampshire
             Contact: http://www.abiworld.org/

July 29-Aug. 1, 2009
AMERICAN BANKRUPTCY INSTITUTE
    Southeast Bankruptcy Conference
       The Westin Hilton Head Island Resort & Spa,
       Hilton Head Island, S.C.
          Contact: http://www.abiworld.org/

Aug. 6-8, 2009
AMERICAN BANKRUPTCY INSTITUTE
    Mid-Atlantic Bankruptcy Conference
       Hotel Hershey, Hershey, Pa.
          Contact: http://www.abiworld.org/

Sept. 10-11, 2009
AMERICAN BANKRUPTCY INSTITUTE
    Complex Financial Restructuring Program
       Hyatt Regency Lake Tahoe, Incline Village, Nevada
          Contact: http://www.abiworld.org/

Sept. 10-12, 2009
AMERICAN BANKRUPTCY INSTITUTE
    17th Annual Southwest Bankruptcy Conference
       Hyatt Regency Lake Tahoe, Incline Village, Nevada
          Contact: http://www.abiworld.org/

Oct. 2, 2009
AMERICAN BANKRUPTCY INSTITUTE
    ABI/GULC "Views from the Bench"
       Georgetown University Law Center, Washington, D.C.
          Contact: http://www.abiworld.org/

Oct. 5-9, 2009
TURNAROUND MANAGEMENT ASSOCIATION
    TMA Annual Convention
       Marriott Desert Ridge, Phoenix, Arizona
          Contact: 312-578-6900; http://www.turnaround.org/

Oct. 20, 2009
AMERICAN BANKRUPTCY INSTITUTE
    NCBJ/ABI Educational Program
       Paris Las Vegas, Las Vegas, Nev.
          Contact: http://www.abiworld.org/

Dec. 3-5, 2009
AMERICAN BANKRUPTCY INSTITUTE
    21st Annual Winter Leadership Conference
       La Quinta Resort & Spa, La Quinta, California
          Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 29-May 2, 2010
AMERICAN BANKRUPTCY INSTITUTE
    Annual Spring Meeting
       Gaylord National Resort & Convention Center, Maryland
          Contact: 1-703-739-0800; http://www.abiworld.org/

June 17-20, 2010
AMERICAN BANKRUPTCY INSTITUTE
    Central States Bankruptcy Workshop
       Grand Traverse Resort and Spa, Traverse City, Michigan
          Contact: 1-703-739-0800; http://www.abiworld.org/

July 7-10, 2010
AMERICAN BANKRUPTCY INSTITUTE
    Northeast Bankruptcy Conference
       Ocean Edge Resort, Brewster, Massachusetts
          Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2010
AMERICAN BANKRUPTCY INSTITUTE
    Southeast Bankruptcy Conference
       The Ritz-Carlton Amelia Island, Amelia, Fla.
          Contact: http://www.abiworld.org/

Aug. 5-7, 2010
AMERICAN BANKRUPTCY INSTITUTE
    Mid-Atlantic Bankruptcy Workshop
       Hyatt Regency Chesapeake Bay, Cambridge, Maryland
          Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 4-8, 2010
TURNAROUND MANAGEMENT ASSOCIATION
    TMA Annual Convention
       JW Marriott Grande Lakes, Orlando, Florida
          Contact: http://www.turnaround.org/

Dec. 2-4, 2010
AMERICAN BANKRUPTCY INSTITUTE
    22nd Annual Winter Leadership Conference
       Camelback Inn, Scottsdale, Arizona
          Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 31-Apr. 3, 2011
AMERICAN BANKRUPTCY INSTITUTE
    Annual Spring Meeting
       Gaylord National Resort & Convention Center, Maryland
          Contact: 1-703-739-0800; http://www.abiworld.org/

June 9-12, 2011
AMERICAN BANKRUPTCY INSTITUTE
    Central States Bankruptcy Workshop
       Grand Traverse Resort and Spa
          Traverse City, Michigan
             Contact: http://www.abiworld.org/

Dec. 1-3, 2011
AMERICAN BANKRUPTCY INSTITUTE
    23rd Annual Winter Leadership Conference
       La Quinta Resort & Spa, La Quinta, California
          Contact: 1-703-739-0800; http://www.abiworld.org/

                            *********

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.  Valerie C. Udtuhan, Marites O. Claro, Rousel Elaine
C. Tumanda, Pius Xerxes V. Tovilla, Joy A. Agravante, Marie
Therese V. Profetana and Peter A. Chapman, Editors.

Copyright 2009.  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 * * *