TCRLA_Public/070906.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                    L A T I N   A M E R I C A

          Thursday, September 6, 2007, Vol. 8, Issue 177

                          Headlines

A R G E N T I N A

ALITALIA SPA: Posts EUR1.05 Bil. Group Debt as of July 31, 2007
ALTERNATIVA MEDICA: Proofs of Claim Verification Ends on Oct. 25
BOSTON SCIENTIFIC: Court OKs Johnson & Johnson's Breach Claim
COOPERATIVA DE TRABAJO: Claims Verification Deadline Is Nov. 21
COPEX SA: Proofs of Claim Verification Ends on Oct. 24

EMBOTELLADORA TIGRE: Claims Verification Deadline Is Oct. 23
ESEPE SRL: Proofs of Claim Verification Is Until Oct. 19
GASTRONOMICA MONSERRAT: Claims Verification Ends Today
HIGH GRADE: Proofs of Claim Verification Deadline Is Nov. 5
LUIS CINGOLANI: Proofs of Claim Verification Ends Tomorrow

NICK PAN: Proofs of Claim Verification Is Until Nov. 20
SANATORIO EL BUEN: Proofs of Claim Verification Ends on Oct. 5
SIEBERCO SA: Proofs of Claim Verification Is Until Nov. 28
WR GRACE: Wants Approval to Raise OCP Cap to US$1.2 Million


B A H A M A S

BANK OF BARODA: To Deploy 40% of Resources Abroad
BANK OF BARODA: To Venture Into Insurance & Asset Management
KNOLL INC: Declares US$0.11 Per Share Quarterly Cash Dividend


B E R M U D A

ANA SUB: Proofs of Claim Filing Ends Tomorrow
CENTRAL EUROPEAN: Secures 60% Ownership Interest in Studio 1+1
CHEVRON OVERSEAS: Proofs of Claim Filing Deadline Is Tomorrow
SEA CONTAINERS: Closes US$170 Million Wells Fargo DIP Financing
SEA CONTAINERS: Wants Court Nod on 333 Capital as Sale Advisors

UNIVERSAL AVIATION: Proofs of Claim Filing Ends Tomorrow
UNOCAL BANGLADESH: Proofs of Claim Must be Filed Tomorrow
UNOCAL BANLADESH BLOCK: Proofs of Claim Filing Ends Tomorow
UNOCAL SOUTH: Proofs of Claim Filing Deadline Is Tomorrow


B R A Z I L

AAR CORP: Names Don Wetekam President of AAR Aircraft Services
AMERICAN TOWER: Inks New US$500-Million Senior Unsec. Term Loan
AMERICAN TOWER: Fitch Rates US$500-Million Term Loan at BB+
BANCO NACIONAL: Grants BRL57-Million Financing to Enersul
BANCO NACIONAL: OKs BRL580MM Financing for Mineracao e Metalicos

CHAPARRAL STEEL: German Cartel Okays Gerdau Ameristeel Merger
COMPANHIA SIDERURGICA: Exports Increase in First Seven Months
FORD MOTOR: Canadian Unit Reports 8.7% Sales Increase in August
FORD MOTOR: Reports 14% Decline in Overall U.S. Sales for August
FORD MOTOR: Reports 15 Aligned Business Framework Suppliers

FORD MOTOR: Tata Confirms Interest in Jaguar & Land Rover
GENERAL MOTORS: Canadian Unit's Sales Increase 3.2% in August
GENERAL MOTORS: Says U.S. Sales for August Up by More Than 5%
GEOKINETICS INC: Hires Two New Executive Officers
GSI GROUP: Appoints Anthony Bellantuoni VP of Human Resources

PETROLEOS DE VENEZUELA: Abreu Plant Project Starts without Firm
PETROLEOS DE VENEZUELA: Hasn't Forged Plant Deal with Petrobras
SANYO ELECTRIC: Is Accepting Bid Offers for Semiconductor Unit
TRANSAX INT'L: June 30 Balance Sheet Upside Down by US$3.4 Mil.
WEIGHT WATCHERS: Declares US$0.175 Per Share Quarterly Dividend

* BRAZIL: IFC to Focus on Midsize Companies & Sustainability
* BRAZIL: Petroleo Brasileiro Kicks Off Pernambuco Plant Works
* BRAZIL: State Firm Launches NatGas Output at Amazon Fields


C A Y M A N   I S L A N D S

ADROIT PRIVATE: Will Hold Final Shareholders Meeting Tomorrow
ANTHRACITE BALANCED: Proofs of Claim Filing Ends on Oct. 1
ANTHRACITE BALANCED: Proofs of Claim Filing Deadline Is Oct. 3
ANTHRACITE BALANCED: Sets Final Shareholders Meeting for Oct. 1
ANTHRACITE BALANCED (R-6): Proofs of Claim Filing Ends on Oct. 3

ANTHRACITE MASTER: Final Shareholders Meeting Is on Oct. 1
ANTHRACITE MASTER: Proofs of Claim Filing Deadline Is Oct. 1
ASIAN CONVERTIBLES: Proofs of Claim Must be Filed by Sept. 24
BAILEY COATES: Will Hold Final Shareholders Meeting on Sept. 7
BANK OF INDIA: To Revalue Some Fixed Assets

BEAR STEARNS: Investors Want To Oust Firm from HGEL Funds
CHINA INVESTMENT: Sets Final Shareholders Meeting for Sept. 7
CYGNUS ASSET: Will Hold Final Shareholders Meeting Today
G-MAX 2002: Proofs of Claim Filing Ends Today
GRIFFIN (CAYMAN): Proofs of Claim Filing Deadline Is Today

IVY PARTNERS: Will Hold Final Shareholders Meeting Tomorrow
JAPAN ADVISORY: Holds Final Shareholders Meeting Tomorrow
MERRILL LYNCH (EURO): Final Shareholders Meeting Is Today
MERRILL LYNCH (USD): Holds Final Shareholders Meeting Today
NISHI-NIPPON: Final Shareholders Meeting Is Today

PURE IP: Will Hold Final Shareholders Meeting Tomorrow
SYSTEIA ALTERNATIVE: Final Shareholders Meeting Will be Tomorrow


C H I L E

BELL MICROPRODUCTS: Names Ed Burke VP of North American HP Unit
EASTMAN KODAK: Extends Five-Year Market Deal with Lexar Media


C O L O M B I A

* COLOMBIA: Invites Pacific Stratus to Bid for Llanos Dev't


C O S T A   R I C A

* COSTA RICA: Cabei Choosing Equipment Vendor for State Firm


D O M I N I C A N   R E P U B L I C

BANCO INTERCONTINENTAL: Blames Hipolito Mejia for Inciting Suits
GUESS? INC: Earns US$37.5 Million in Second Quarter Ended Aug. 4


E L   S A L V A D O R

* EL SALVADOR: Nera To Conduct Telecoms Competition Study


G U A T E M A L A

AFFILIATED COMPUTER: Renews Parking Services Contract w/ Boston
TRUESTAR PETROLEUM: Optima Services Files Chapter 11 in Texas
TRUESTAR PETROLEUM: Involuntary Chapter 11 Case Summary


J A M A I C A

DIGICEL LTD: Launches Ad Hut To Promote Products & Services


M E X I C O

ACCELLENT INC: Names Jeremy Friedman as Chief Financial Officer
ARROW ELECTRONICS: Closes Centia & AKS Acqusition for US$32 Mil.
BENQ CORP: Targets NT$80 Bil. in Sales Next Year After Spin-Off
DANA CORP: Inks Settlement Agreement with Retiree Committee
DANA CORP: Wants Disclosure Statement Hearing Set for Oct. 23

DURA AUTOMOTIVE: Sub. Noteholders Appeal Pacificor Backstop Pact
DURA AUTOMOTIVE: Tim Trenary to Serve as CEO Effective Sept. 13
FEDERAL-MOGUL: Court Extends Lease Decision Deadline to Dec. 1
FLEXTRONICS INT'L: Inks Acquisition Deal with Avail Medical
GLOBAL POWER: Objects to More Than US$200 Million in Claims

KANSAS CITY SOUTHERN: UBS Raises Ratings on Shares to Buy
MAZDA MOTORS: Recalls 280,000 Demios & Verisas in Japan
MOVIE GALLERY: Inks Forbearance Pact with Senior Noteholders
NEWPARK RESOURCES: Closes SEM Construction Acquisition
UAL CORP: Provides Update on Resale of 4.50% Senior Notes


P A N A M A

ROYAL CARIBBEAN: Promotes Two Executives as President & CEO

* PANAMA: Begins Work on US$5.25-Billion Waterway Expansion


P E R U

DOE RUN: Settles Environmental Infractions
WORLDSPAN LP: Inks Distribution Agreement with Gullivers Travel


P U E R T O   R I C O

ALLIED WASTE: Completes Asset Sale to Veolia ES for US$86 Mil.


U R U G U A Y

BANCO HIPOTECARIO DEL URUGUAY: Earns UYU1.59B in First 7 Months


V E N E Z U E L A

ARVINMERITOR INC: Partners with Chery to Design Chassis Systems

* VENEZUELA: Sells US$23 Million 91-Day Securities


                          - - - - -


=================
A R G E N T I N A
=================


ALITALIA SPA: Posts EUR1.05 Bil. Group Debt as of July 31, 2007
---------------------------------------------------------------
Alitalia Group's net debt as of July 31, 2007, amounted to
EUR1.05 billion, showing an increase in net indebtedness of
EUR16 million (+1.5%) compared to June 30, 2007.

The net debt of the parent company Alitalia including short-term
net financial credits for subsidiaries on July 31, 2007,
amounted to EUR1.031 billion increasing EUR13 million (+1.3%)
compared to net debt as of June 30, 2007.

The Group's cash-to-hand and short-term financial credits as of
July 31, 2007, at the Group level and for Alitalia, amounted to
EUR592 million and EUR618 million respectively.

It should be noted that as of July 31, 2007, there were several
leasing contracts at the Group level (referring almost entirely
to fleet aircraft mostly held by the parent company amounting to
EUR87 million) whose capital share, including lease closure
value, amounted to EUR100 million (of which EUR13 million
represent the current capital share falling due within 12 months
of the reference date, with EUR10 million held by the parent
company).

By comparison, the same figure as of June 30, 2007, amounted
to EUR102 million (of which EUR13 million falling due in the
twelve months from the reference date); the corresponding
figures for the parent company on June 30, 2007, amounted to
EUR88 and EUR10 million respectively.

It should also be noted that existing debts to banks are almost
entirely backed up by real guarantees (mortgages on aircraft) or
by personal guarantees (mainly guarantees issued by banks for
export credit).  The relative financing contracts contain
standard legal clauses relating to withdrawal. None of the
contracts refer to specific requirements regarding assets or
economic/financial aspects, in order to maintain the credit
line.

During July 2007, repayments were made of medium/long-term
financing amounting to about EUR3.5 million.

Regarding debts of a financial, fiscal and social welfare
nature, there were no outstanding sums or payment irregularities
on July 31, 2007, both for the parent company and for the other
companies in the Group.

As far as debts of a commercial nature are concerned, there were
no outstanding sums or payment irregularities on July 31, 2007,
both for the parent company and for other Group companies,
except for those relating to disputed situations.

Regarding the latter, there were outstanding sums owed to one
airport management company for disputed debts amounting to a
total of 82 million as of July 31, 2007.  Regarding that, it
should be pointed that during June 2007, it has been formalized
a transaction agreement, under implementation, which settled the
dispute.

In addition, regardless of the mentioned transaction agreement,
the decisions are still pending for the petitions filed by
Alitalia regarding:

   -- an injunction related to supposed different pricing
      policies has been issued by a carrier for EUR2.6 million;

   -- an other injunction has been issued by supplier of on-
      board movies by approximately EUR909,000;

   -- a further injunction has been issued by an IT services
      supplier for about EUR812,000;

   -- an injunction has been issued by an Italian subsidiary of
      an air carrier Bankruptcy for EUR288,000; and

   -- there are injunctions issued by suppliers for a total of
      around EUR425,000 (14 decrees).

There are no other injunction orders or executive actions
undertaken by creditors notified as of July 31, 2007, nor are
there any threats by suppliers to suspend operations.

                        About Alitalia

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

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


ALTERNATIVA MEDICA: Proofs of Claim Verification Ends on Oct. 25
----------------------------------------------------------------
Marcela Adriana Mazzoni, the court-appointed trustee for
Alternativa Medica S.A.'s reorganization proceeding, verifies
creditors' proofs of claim on Oct. 25, 2007.

Ms. Mazzoni will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance in Buenos Aires will determine if the verified claims
are admissible, taking into account the trustee's opinion, and
the objections and challenges that will be raised by Alternativa
Medica and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Alternativa Medica's
accounting and banking records will be submitted in court.

Infobae didn't state the reports submission deadlines.

The trustee can be reached at:

         Marcela Adriana Mazzoni
         Alfredo Bufano 2198
         Buenos Aires, Argentina


BOSTON SCIENTIFIC: Court OKs Johnson & Johnson's Breach Claim
-------------------------------------------------------------
U.S. District Judge Gerard E. Lynch in Manhattan allowed a
breach-of-contract claim by Johnson & Johnson to proceed but
dismissed others in a US$5.5 billion lawsuit Johnson & Johnson
filed against Boston Scientific Corp., The Wall Street
Journal said on its Web site Thursday last week.

The breach-of-contract claim relates to Guidant's termination
of a merger agreement with Johnson & Johnson to give way to
a US$27 billion acquisition deal with Boston Scientific last
year, the report said.

The dismissed claims, according to WSJ, include claims alleging
that Boston Scientific and Guidant violated an implied duty of
good faith and fair dealing in the Guidant-Johnson & Johnson
merger deal.

In denying the claim, Judge Lynch said in an order quoted by
WSJ that there is no basis under Indiana law for a claim of
violation of such a duty, noting that the contract is governed
by Indiana law while Guidant was based in Indianapolis.

Boston Scientific closed on its deal to purchase the bulk of
Guidant in April 2006.  In September 2006, WSJ said Johnson &
Johnson balked at the deal alleging that Boston Scientific
succeeded in its takeover bid for Guidant only because Guidant
leaked confidential information to Abbott Laboratories Inc.
for the purpose of "arranging a prepackaged divestiture of
significant Guidant businesses to Abbott."

Headquartered in Natick, Massachusetts, Boston Scientific
Corporation (NYSE: BSX) -- http://www.bostonscientific.com/--
develops, manufactures and markets medical devices used in a
broad range of interventional medical specialties.  The company
has offices in Argentina, Chile, France, Germany, and Japan,
among others.

                        *     *     *

As reported in the Troubled Company Reporter on Aug. 7, 2007,
Standard & Poor's Ratings Services lowered its corporate credit
rating on Boston Scientific Corp. to 'BB+' from 'BBB-' and
placed the ratings on the company on CreditWatch with negative
implications.  S&P has withdrawn the commercial paper rating at
the company's request.

Fitch Ratings also downgraded the ratings on Boston
Scientific Corp. including the company's 'BBB-' Senior Unsecured
Notes rating which was lowered to 'BB+'.  Fitch said the rating
outlook is negative.


COOPERATIVA DE TRABAJO: Claims Verification Deadline Is Nov. 21
---------------------------------------------------------------
Maria del Carmen Saldena, Adriana Fondere, Myriam Ruth
Chambouleyron, and Maria Teresa Mellado, J -- the court-
appointed trustees for Cooperativa de Trabajo Transportes
Automotores de Cuyo T.A.C. Ltda.'s bankruptcy proceeding
-- verify creditors' proofs of claim until Nov. 21, 2007.

The trustees will present the validated claims in court as
individual reports on March 19, 2008.  The National Commercial
Court of First Instance in Mendoza will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Cooperativa de Trabajo and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Cooperativa de
Trabajo's accounting and banking records will be submitted in
court on July 6, 2008.

The trustees are also in charge of administering Cooperativa de
Trabajo's assets under court supervision and will take part in
their disposal to the extent established by law.

The trustee can be reached at:

       Maria del Carmen Saldena, Adriana Fondere
       Myriam Ruth Chambouleyron, Maria Teresa Mellado, J
       Avenida Espana 1057, Ciudad de Mendoza
       Mendoza, Argentina


COPEX SA: Proofs of Claim Verification Ends on Oct. 24
------------------------------------------------------
Hector Martinez, the court-appointed trustee for Copex SA's
bankruptcy proceeding, verifies creditors' proofs of claim until
Oct. 24, 2007.

Mr. Martinez will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 17 in Buenos Aires, with the assistance of Clerk
No. 34, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections
and challenges that will be raised by Copex and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Copex's accounting
and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

Mr. Martinez is also in charge of administering Copex's assets
under court supervision and will take part in their disposal to
the extent established by law.

The debtor can be reached at:

       Copex SA
       Bartolome Mitre 797
       Buenos Aires, Argentina

The trustee can be reached at:

       Hector Martinez
       Avenida Independencia 2251
       Buenos Aires, Argentina


EMBOTELLADORA TIGRE: Claims Verification Deadline Is Oct. 23
------------------------------------------------------------
Mario Armando Lopez, the court-appointed trustee for
Embotelladora Tigre S.A.'s bankruptcy proceeding, verifies
creditors' proofs of claim until Oct. 23, 2007.

Mr. Lopez will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance in Buenos Aires will determine if the verified claims
are admissible, taking into account the trustee's opinion, and
the objections and challenges that will be raised by
Embotelladora Tigre and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Embotelladora Tigre's
accounting and banking records will be submitted in court.

Infobae didn't state the reports submission deadlines.

Mr. Lopez is also in charge of administering Embotelladora
Tigre's assets under court supervision and will take part in
their disposal to the extent established by law.

The trustee can be reached at:

       Mario Armando Lopez
       Tte. Gral. Juan D. Peron 1610
       Buenos Aires, Argentina


ESEPE SRL: Proofs of Claim Verification Is Until Oct. 19
--------------------------------------------------------
Alejandro Santiago Fontenla, the court-appointed trustee for
Esepe S.R.L.'s bankruptcy proceeding, verifies creditors' proofs
of claim until Oct. 19, 2007.

Mr. Fontenla will present the validated claims in court as
individual reports Nov. 30, 2007.  The National Commercial Court
of First Instance in Buenos Aires will determine if the verified
claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised
by Esepe and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Esepe's accounting
and banking records will be submitted in court on Feb. 19, 2008.

Mr. Fontenla is also in charge of administering Esepe's assets
under court supervision and will take part in their disposal to
the extent established by law.

The trustee can be reached at:

       Alejandro Santiago Fontenla
       Belgrano 2079
       Buenos Aires, Argentina


GASTRONOMICA MONSERRAT: Claims Verification Ends Today
------------------------------------------------------
The court-appointed trustee for Gastronomica Monserrat S.R.L.'s
bankruptcy proceeding will verify creditors' proofs of claim
until Sept. 6, 2007.

The trustee will present the validated claims in court as
individual reports on Oct. 24, 2007.  The National Commercial
Court of First Instance in Cordoba will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Gastronomica Monserrat and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Gastronomica
Monserrat's accounting and banking records will be submitted in
court on Dec. 10, 2007.

The trustee is also in charge of administering Gastronomica
Monserrat's assets under court supervision and will take part in
their disposal to the extent established by law.

The debtor can be reached at:

        Gastronomica Monserrat S.R.L.
        Rivadavia 789, Ciudad de Cordoba
        Cordoba, Argentina


HIGH GRADE: Proofs of Claim Verification Deadline Is Nov. 5
-----------------------------------------------------------
Daniel Ernesto Altman, the court-appointed trustee for High
Grade SA's bankruptcy proceeding, verifies creditors' proofs of
claim until Nov. 5, 2007.

Mr. Altman will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 4 in Buenos Aires, with the assistance of Clerk
No. 8, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections
and challenges that will be raised by High Grade and its
creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of High Grade's
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

Mr. Altman is also in charge of administering High Grade's
assets under court supervision and will take part in their
disposal to the extent established by law.

The debtor can be reached at:

       High Grade SA
       Avenida Corrientes 1922
       Buenos Aires, Argentina

The trustee can be reached at:

       Daniel Ernesto Altman
       Parana 774
       Buenos Aires, Argentina


LUIS CINGOLANI: Proofs of Claim Verification Ends Tomorrow
----------------------------------------------------------
Eluani Gustavo, Ferreyra Sergio and Lujan Rene, the court-
appointed trustee for Luis Cingolani S.A.'s bankruptcy
proceeding, verifies creditors' proofs of claim until
Sept. 7, 2007.

The trustees will present the validated claims in court as
individual reports on Oct. 29, 2007.  The National Commercial
Court of First Instance in Cordoba will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Luis Cingolani and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Luis Cingolani's
accounting and banking records will be submitted in court on
May 5, 2008.

The trustees are also in charge of administering Luis
Cingolani's assets under court supervision and will take part in
their disposal to the extent established by law.

The debtor can be reached at:

          Luis Cingolani S.A.
          Duarte Quiros 651, Ciudad de Cordoba
          Cordoba, Argentina

The trustee can be reached at:

          Eluani Gustavo, Ferreyra Sergio y Lujan Rene
          9 de Julio 40, Ciudad de Cordoba
          Cordoba, Argentina


NICK PAN: Proofs of Claim Verification Is Until Nov. 20
-------------------------------------------------------
Eduardo Facciuto, the court-appointed trustee for Nick Pan SA's
bankruptcy proceeding, verifies creditors' proofs of claim until
Nov. 20, 2007.

Mr. Facciuto will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 23 in Buenos Aires, with the assistance of Clerk
No. 45, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections
and challenges that will be raised by Nick Pan and its
creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Nick Pan's accounting
and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

Mr. Facciuto is also in charge of administering Nick Pan's
assets under court supervision and will take part in their
disposal to the extent established by law.

The debtor can be reached at:

       Nick Pan SA
       Velazco 206
       Buenos Aires, Argentina

The trustee can be reached at:

       Eduardo Facciuto
       Arevalo 3070
       Buenos Aires, Argentina


SANATORIO EL BUEN: Proofs of Claim Verification Ends on Oct. 5
--------------------------------------------------------------
Leonor Haydee Veiga, the court-appointed trustee for Sanatorio
El Buen Pastor S.A.'s bankruptcy proceeding, verifies creditors'
proofs of claim until Oct. 5, 2007.

Ms. Veiga will present the validated claims in court as
individual reports Nov. 19, 2007.  The National Commercial Court
of First Instance in Buenos Aires will determine if the verified
claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised
by Sanatorio El Buen and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Sanatorio El Buen's
accounting and banking records will be submitted in court on
Feb. 5, 2008.

Ms. Veiga is also in charge of administering Sanatorio El Buen's
assets under court supervision and will take part in their
disposal to the extent established by law.

The trustee can be reached at:

       Leonor Haydee Veiga
       Bartolome Mitre 1711
       Buenos Aires, Argentina


SIEBERCO SA: Proofs of Claim Verification Is Until Nov. 28
----------------------------------------------------------
Gustavo Fiszman, the court-appointed trustee for Sieberco SA's
bankruptcy proceeding, verifies creditors' proofs of claim until
Nov. 28, 2007.

Mr. Fiszman will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 19 in Buenos Aires, with the assistance of Clerk
No. 37, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections
and challenges that will be raised by Sieberco and its
creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of High Grade's
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

Mr. Fiszman is also in charge of administering Sieberco's assets
under court supervision and will take part in their disposal to
the extent established by law.

The debtor can be reached at:

       Sieberco SA
       Suipacha 370
       Buenos Aires, Argentina

The trustee can be reached at:

       Gustavo Fiszman
       Avenida Santa Fe 5086
       Buenos Aires, Argentina


WR GRACE: Wants Approval to Raise OCP Cap to US$1.2 Million
-----------------------------------------------------------
W.R. Grace & Co. and its debtor-affiliates ask the Hon. Judith
Fitzgerald of the U.S. Bankruptcy Court for the District of
Delaware to amend the Ordinary Course Professional Order to
increase the Total OCP Expenditure Cap to US$1,200,000.

The uninterrupted services of the OCPs are vital to the Debtors'
continuing operations and their ultimate ability to reorganize,
Timothy P. Cairns, Esq., at Pachulski Stang Ziehl Young Jones &
Weintraub, LLP, in Wilmington, Delaware, contends.  The Debtors'
operations would be hindered if OCPs are either not paid for
their services or required to submit fee applications to the
Court for all their fees and expenses billed.

Mr. Cairns points out that from April 1, 2007, through
June 30, 2007, certain OCP fees and expenses since the Petition
Date are nearing the current US$800,000 Total Expenditure Cap
because of increased activity in the reorganization process.
Mr. Cairns tells the Court that while the Debtors have made
significant progress in resolving their asbestos liabilities,
the estimation trial on asbestos-related personal injury claims
has been delayed and will not commence until January 2008.

Mr. Cairns contends that with a US$400,000 increase in the OCP
expenditure budget, the Debtors should be able to prevent the
need for further increases in the OCP Expenditure Cap until the
conclusion of the PI estimation proceedings.

The Debtors also ask the Court to allow OCPs to seek approval of
compensation that exceeds the US$50,000 Monthly Cap by filing
fee applications without prior Court approval to do so.

In another filing, the Debtors ask the Court to allow the fees
and expenses incurred and billed by Morrison & Foerster, LLP, to
exceed the Monthly Cap.

                      About W.R. Grace

Headquartered in Columbia, Md., W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally, including
Argentina, Australia and Ireland.

The Company and its debtor-affiliates filed for chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
James H.M. Sprayregen, Esq., at Kirkland & Ellis, and Laura
Davis Jones, Esq., at Pachulski, Stang, Ziehl, Young, Jones &
Weintraub, P.C., represent the Debtors in their restructuring
efforts.  The Debtors hired Blackstone Group, L.P., for
financial advice.  PricewaterhouseCoopers LLP is the Debtors'
accountant.

Stroock & Stroock & Lavan LLP represents the Official Committee
of Unsecured Creditors.  The Creditors Committee tapped Capstone
Corporate Recovery LLC for financial advice.  David T. Austern,
the legal representative of future asbestos personal injury
claimants, is represented by Orrick Herrington & Sutcliffe LLP
and Phillips Goldman & Spence, PA.  Anderson Kill & Olick, P.C.,
represent the Official Committee of Asbestos Personal Injury
Claimants.  The Asbestos Committee of Property Damage Claimants
tapped Martin W. Dies, III, Esq., at Dies & Hile L.L.P., and C.
Alan Runyan, Esq., at Speights & Runyan,to represent it.
Lexecon, LLP, provided asbestos claims consulting services to
the Official Committee of Equity Security Holders.

The Debtors' filed their Chapter 11 Plan and Disclosure
Statement on Nov. 13, 2004.  On Jan. 13, 2005, they filed an
Amended Plan and Disclosure Statement.  The hearing to consider
the adequacy of the Debtors' Disclosure Statement began on
Jan. 21, 2005.  The Debtors' exclusive period to file a chapter
11 plan expired on July 23, 2007.

At Dec. 31, 2006, the W.R. Grace's balance sheet showed total
assets of US$3,620,400,000 and total debts of US$4,189,100,000.
(W.R. Grace Bankruptcy News, Issue No. 137; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)




=============
B A H A M A S
=============


BANK OF BARODA: To Deploy 40% of Resources Abroad
-------------------------------------------------
Bank of Baroda will deploy 40% of its resources abroad as part
of its plan to focus on international operations, Mahalakshmi
Hariharan writes for dnaindia.com

"We are projecting a growth of 35-40% from international
operations.  In order to achieve this, we have decided to deploy
INR25,000 crore this year as against INR17,000 crore in 2006 to
2007," dnaindia quotes V. Santhanaraman, BoB executive director,
as saying.

According to dnaindia, the bank intends to open 10 offices
overseas this year and sees 71 offices abroad by March 2008.

As part of its strategy to promote global presence, the bank's
gulf operations are poised for a major expansion in the coming
months, Ravindra Nath of Khaleej Times Online relates.
"The plans include opening branches in the other four GCC
countries, starting with Bahrain very soon; launching a new
outlet, a deposit-linked insurance scheme and Internet banking
in Oman; and the establishment of a Regional Syndication Centre
in Dubai," Khaleej Times says.

Headquartered in Vadodara, India, Bank of Baroda --
http://www.bankofbaroda.com/-- is a provider of banking
services in India.  The company's solutions includes personal
banking, which includes deposits, retail loans, credit cards,
debit card, lockers and other services; business banking, which
comprises working capital, term finance and traders loans;
corporate banking, which includes cash management and
remittances, multi-city cheques, appraisals and merchant
banking; international business, which includes import finance,
international treasury, export finance, correspondent banking
and other solutions; treasury banking, which comprises domestic
operations and forex operations, and rural banking, which
includes retail loan, small businesses and small scale
industries.

Bank of Baroda has branches in the Bahamas, Belgium, the Fiji
Islands, Mauritius, Republic of South Africa, Seychelles,
Singapore, Sultanate of Oman, United Arab Emirates, the United
Kingdom, and the United States of America.

                        *     *     *

As reported by the Troubled Company Reporter-Asia Pacific on
July 11, 2007, Standard & Poor's assigned its 'BB' issue rating
to Bank of Baroda's US$300 million upper Tier-II subordinated
notes due in 2022.

Fitch Ratings, on May 9, 2007, assigned 'BB' ratings to Bank of
Baroda's proposed unsecured subordinated Upper Tier 2 notes
(expected size: USD250 million plus greenshoe option), as well
as the hybrid Tier 1 debt to be issued under its USD1.5 billion
medium-term notes programme. The agency also affirmed the bank's
Individual Rating of 'C/D'.  The outlook on all ratings is
stable.


BANK OF BARODA: To Venture Into Insurance & Asset Management
------------------------------------------------------------
Bank of Baroda is eyeing entry into the insurance and asset
management sectors, media reports say.

The Press Trust of India, citing Chairman & Managing Director
Anil Kuman Khandewal, says that the bank is currently finalizing
a memorandum of understanding with "UK-based famous company" for
the plans for the insurance undertaking.  While for the estate
management, BoB is mulling a joint venture with an Italy-based
pioneer group, the news agency adds.

Headquartered in Vadodara, India, Bank of Baroda --
http://www.bankofbaroda.com/-- is a provider of banking
services in India.  The company's solutions includes personal
banking, which includes deposits, retail loans, credit cards,
debit card, lockers and other services; business banking, which
comprises working capital, term finance and traders loans;
corporate banking, which includes cash management and
remittances, multi-city cheques, appraisals and merchant
banking; international business, which includes import finance,
international treasury, export finance, correspondent banking
and other solutions; treasury banking, which comprises domestic
operations and forex operations, and rural banking, which
includes retail loan, small businesses and small scale
industries.

Bank of Baroda has branches in the Bahamas, Belgium, the Fiji
Islands, Mauritius, Republic of South Africa, Seychelles,
Singapore, Sultanate of Oman, United Arab Emirates, the United
Kingdom, and the United States of America.

                        *     *     *

As reported by the Troubled Company Reporter-Asia Pacific on
July 11, 2007, Standard & Poor's assigned its 'BB' issue rating
to Bank of Baroda's US$300 million upper Tier-II subordinated
notes due in 2022.

Fitch Ratings, on May 9, 2007, assigned 'BB' ratings to Bank of
Baroda's proposed unsecured subordinated Upper Tier 2 notes
(expected size: USD250 million plus greenshoe option), as well
as the hybrid Tier 1 debt to be issued under its USD1.5 billion
medium-term notes programme. The agency also affirmed the bank's
Individual Rating of 'C/D'.  The outlook on all ratings is
stable.


KNOLL INC: Declares US$0.11 Per Share Quarterly Cash Dividend
-------------------------------------------------------------
Knoll Inc.'s Board of Directors has declared a quarterly cash
dividend of US$0.11 per share payable Sept. 28, 2007, to
stockholders of record on Sept. 14, 2007.

Knoll is aligned with the U.S. Green Building Council and can
help companies achieve Leadership in Energy and Environmental
Design workplace certification.  Knoll is the contract furniture
industry's first member of the Chicago Climate Exchange and is
the founding sponsor of the World Monuments Fund Modernism at
Risk program.

                       About Knoll Inc.

Headquartered in East Greenville, Pennsylvania, Knoll Inc.
(NYSE: KNL) -- http://www.knoll.com/-- designs and manufactures
branded office furniture products and textiles, serves clients
worldwide.  It distributes its products through a network of
more than 300 dealerships and 100 showrooms and regional
offices.  The company has locations in Argentina, Australia,
Bahamas, Cayman Islands, China, Colombia, Denmark, Finland,
Greece, Hong Kong, India, Indonesia, Japan, Korea, Malaysia,
Philippines, Poland, Portugal and Singapore, among others.

                        *     *     *

Knoll Inc. carries Moody's Investors Service's B1 Corporate
Family Rating and the company's USUS$200 million senior secured
revolver and USUS$250 million senior secured term loan carry
Moody's Ba2.  Moody's assigned an LGD2 rating to both loans,
suggesting note holders will experience a 27% loss in the event
of a default.




=============
B E R M U D A
=============


ANA SUB: Proofs of Claim Filing Ends Tomorrow
---------------------------------------------
Ana Sub One Co. Ltd.'s creditors are given until
Sept. 7, 2007, to prove their claims to Robin J. Mayor, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Ana Sub shareholders agreed on Aug. 22, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

         Robin J. Mayor
         Clarendon House, Church Street
         Hamilton, Bermuda


CENTRAL EUROPEAN: Secures 60% Ownership Interest in Studio 1+1
--------------------------------------------------------------
Central European Media Enterprises Ltd. has secured a 60%
ownership in Studio 1+1 by completing the registration of a 42%
direct ownership interest in Studio 1+1 LLC via a Ukrainian
subsidiary company.  Studio 1+1 LLC is the license company of
the Studio 1+1 Group.  With its existing 18% indirect ownership,
Central European now has secured control over the Studio 1+1
broadcasting licenses.

Michael Garin, Central European's Chief Executive Officer,
commented: "Today's announcement marks the successful completion
of a process that Central European initiated nearly two years
ago.  We believe that this change should allow us to exercise
greater influence over the station management, allow Central
European to create stronger synergies among Central European
media assets in Ukraine and further improve our overall
Ukrainian operations."

Ukraine is Central European's largest market with a population
of 46.7 million people.  Per capita GDP was estimated to be
US$2,027 in 2006 with a GDP growth rate in 2006 of six percent.
According to Central European estimates, the Ukrainian
television advertising market grew by 25 - 30 percent in 2006
and was worth US$240 - US$250 million.

Central European is a TV broadcasting company operating leading
networks in six Central and Eastern European countries with an
aggregate population of approximately 90 million people.  The
company's television stations are located in Croatia (Nova TV),
Czech Republic (TV Nova, Galaxie Sport), Romania (PRO TV, PRO TV
International, Acasa, PRO Cinema and Sport.ro), Slovak Republic
(Markiza, Galaxie Sport), Slovenia (POP TV, Kanal A) and Ukraine
(Studio 1+1, Studio 1+1 International, Kino, Citi). Central
European is traded on the NASDAQ and the Prague Stock Exchange
under the ticker symbol "CETV".

Based in Bermuda with corporate offices in London, UK, Central
European Media Enterprises Ltd is an international television
broadcasting company with operations across Central and Eastern
Europe.  Launched in 1994, Central European and its partners now
operate 13 networks in six countries, including TV Nova and
Galaxie Sport in the Czech Republic; PRO TV, PRO Cinema and
Acasa in Romania; Markiza TV in the Slovak Republic; POP TV and
Kanal A in Slovenia; and Studio 1+1, Kino and Citi in Ukraine.
For the year ending on Dec. 31, 2006, Central European generated
Segment revenues of US$605 million and Segment EBITDA of US$219
million.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 11, 2007, Moody's Investors Service assigned a (P)Ba3 rating
and a Loss Given Default assessment of LGD4 (59%) to the
proposed issuance of EUR150 million senior floating rate notes
due in 2014 by Central European Media Enterprises Ltd.
Concurrently, Moody's has affirmed Central European's Corporate
Family Rating at Ba3 with a stable outlook.

Standard & Poor's Ratings Services revised its outlook on
Central European Media Enterprises Ltd. to positive from stable,
reflecting the group's improved financial profile and continued
operational momentum.  At the same time, Standard & Poor's
affirmed its 'BB-' long-term corporate credit and 'B+' senior
unsecured debt ratings on Central European.


CHEVRON OVERSEAS: Proofs of Claim Filing Deadline Is Tomorrow
-------------------------------------------------------------
Chevron Overseas (Namibia) Ltd.'s creditors are given until
Sept. 7, 2007, to prove their claims to Gary R. Pitman, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Chevron Overseas shareholders agreed on Aug. 13, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

         Gary R. Pitman
         Chevron House, 11 Church Street
         Hamilton, Bermuda


SEA CONTAINERS: Closes US$170 Million Wells Fargo DIP Financing
---------------------------------------------------------------
Robert MacKenzie, president and chief executive officer of Sea
Containers Ltd., disclosed in a filing with the Securities and
Exchange Commission that on July 24, Sea Containers completed
its US$170,000,000 debtor-in-possession financing with Wells
Fargo Bank Northwest, N.A., as administrative and collateral
agent, pursuant to an order signed July 3, in the U.S.
Bankruptcy Court for the District of Delaware.

The DIP Financing provides for a single-draw term loan of a
maximum principal amount of US$145,000,000 and revolving loans
in a maximum principal amount outstanding at any time of
US$25,000,000.

The company's obligations under this credit agreement are
secured by its equity interest in SPC Holdings Ltd., a
bankruptcy-remote Bermuda subsidiary of the company.

SPC Holdings guaranteed the company's obligations under the DIP
Financing in a limited amount; this guaranty is secured by SPC
Holdings's equity interest and all other assets, if any,
Mr. MacKenzie says.

As part of the DIP Financing:

    (a) Sea Containers and SPC Holdings, as guarantor, completed
        a Secured Super-Priority Debtor-in-Possession Credit
        Agreement with Wells Fargo Bank Northwest, N.A., as
        administrative agent and collateral agent , and Mariner
        Investment Group, Inc., and Dune Capital LP, as co-
        arrangers and initial lenders, which provided for the
        credit and guaranty arrangements;

    (b) Sea Containers, Wells and Commerce Bank, N.A., entered
        into a Clearing Account Agreement so as to further
        secure the Company's obligations under the DIP
        Financing; and

    (c) SPC executed and delivered an Intercompany Demand
        Promissory Note reflecting obligations exceeding
        US$100,000,000 of SPC to the Company at the time of the
        consummation of the DIP Financing.

According to Mr. MacKenzie, on the day on which Sea Containers
entered into the DIP Financing, the company borrowed
US$145,000,000 as a term loan.

Proceeds of the US$145,000,000 term loan were contributed as
surplus capital to SPC, which used those funds along with other
funds available to satisfy its indebtedness -- the 2006
Securitization -- including various fees and expenses, to
Wachovia Bank, National Association and Abelco Finance LLC and,
thereby, to terminate the debt.

The indebtedness under the 2006 Securitization had been secured
by substantially all of the of Sea Containers SPC's assets, by
SPC Holdings's equity interest in Sea Containers SPC, and by
certain Class B Quotas of the company with respect to GE SeaCo
SRL, a Barbados society with restricted liability.

The company is permitted from time to time to borrow money on a
revolving basis pursuant and subject to the DIP Financing for
working capital purposes.

                     About Sea Containers

Based in Hamilton, Bermuda, Sea Containers Ltd. --
http://www.seacontainers.com/-- provides passenger and freight
transport and marine container leasing.  Registered in Bermuda,
the company has regional operating offices in London, Genoa, New
York, Rio de Janeiro, Sydney, and Singapore.  The company is
owned almost entirely by United States shareholders and its
primary listing is on the New York Stock Exchange (SCRA and
SCRB) since 1974.  On Oct. 3, the company's common shares and
senior notes were suspended from trading on the NYSE and NYSE
Arca after the company's failure to file its 2005 annual report
on Form 10-K and its quarterly reports on Form 10-Q during 2006
with the U.S. Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the U.S.

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).
Edmon L. Morton, Esq., Edwin J. Harron, Esq., Robert S. Brady,
Esq., Sean Matthew Beach, Esq., and Sean T. Greecher, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in
their restructuring efforts.

The Official Committee of Unsecured Creditors and the Financial
Members Sub-Committee of the Official Committee of Unsecured
Creditors of Sea Containers Ltd. is represented by William H.
Sudell, Jr., Esq., and Thomas F. Driscoll, Esq., at Morris,
Nichols, Arsht & Tunnell LLP.  Sea Containers Services, Ltd.'s
Official Committee of Unsecured Creditors is represented by
attorneys at Willkie Farr & Gallagher LLP.

In its schedules filed with the Court, Sea Containers Ltd.
disclosed total assets of US$62,400,718 and total liabilities of
US$1,545,384,083.

The Court extended the Debtors' exclusive period to file a Plan
of Reorganization to Sept. 28, 2007.  (Sea Containers Bankruptcy
News, Issue No. 25; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


SEA CONTAINERS: Wants Court Nod on 333 Capital as Sale Advisors
---------------------------------------------------------------
Sea Containers Ltd. and its debtor-affiliates seek the U.S.
Bankruptcy Court for the District of Delaware's authority to
employ 333 Capital Pty Ltd. as advisors to Sea Containers
Limited and Sea Containers Australia Limited, nunc pro tunc to
Aug. 16, 2007, in connection with the anticipated sale of the
International Reefer Services Pty Ltd. and Independent Reefer
Services Ltd. Companies' businesses and assets.

Laura Barlow, Sea Containers' chief restructuring officer, says
333 Capital is well qualified to provide the services being
sought by the Debtors.  333 Capital specializes in, among
others, advising entities which are considering sale, merger or
acquisition transactions.  The firm's boutique advisory practice
is designed to specifically enhance its clients' transaction
execution capabilities, she says.

The firm's advisory expertise, Ms. Barlow notes, spans
traditional corporate finance advisory services as well as due
diligence and transaction management roles.

The professionals at 333 Capital, Ms. Barlow tells the
Court, have vast experience in the restructuring and sale of
large and small businesses with complex operations.  In
particular, she says, David Scoullar, a managing director at the
firm is well qualified to serve as team leader for the
anticipated sale transaction.  Mr. Scoullar has over 12 years of
national and international corporate finance transaction
experience.

The Debtors, thus, believe that the firm's employment will
greatly contribute to the process of selling the IRS Companies.

Under the Debtors' supervision, 333 Capital will:

  (a) design and implement overall sale process that will
      conclude in two months;

  (b) review the businesses and assets to obtain understanding
      of the asset's real potential;

  (c) prepare an information memorandum to be circulated to
      interested parties on a confidential basis;

  (d) market the businesses and assets within Australia, New
      Zealand, and internationally if appropriate;

  (e) enter into confidentiality agreements with interested
      parties;

  (f) establish an electronic "data room" to provide secure,
      confidential access to information;

  (g) liaise with interested parties and attend to requests
      for additional information;

  (h) procure indicative offer letters form interested parties;

  (i) advance discussions and negotiations with short-listed
      interested parties; and

  (j) instruct and supervise a qualified solicitor to draft all
      necessary legal documentation to effect the sale.

A non-refundable retainer of AU$100,000 will be paid by SCAL to
333 Capital on the basis of the scope of services within two
months.  If the engagement and sale process exceeds two months,
333 Capital will charge SCAL an incremental retainer of
AU$25,000 per month.

Out-of-pocket expenses incurred by 333 Capital will be charged
to SCAL at cost, including travel and accommodation.

In addition, SCAL will pay 333 Capital a success fee of 5% of
the Gross Sale Proceeds of the IRS Companies that exceed
US$1,000,000.

Mr. Scoullar assures the Court that 333 Capital is a
"disinterested person" within the meaning of Section 101(14) of
the Bankruptcy Code, as modified by Section 1107(b).  The firm
does not hold or represent any interest adverse to the Debtors
and their estates.

                      About Sea Containers

Based in Hamilton, Bermuda, Sea Containers Ltd. --
http://www.seacontainers.com/-- provides passenger and freight
transport and marine container leasing.  Registered in Bermuda,
the company has regional operating offices in London, Genoa, New
York, Rio de Janeiro, Sydney, and Singapore.  The company is
owned almost entirely by United States shareholders and its
primary listing is on the New York Stock Exchange (SCRA and
SCRB) since 1974.  On Oct. 3, the company's common shares and
senior notes were suspended from trading on the NYSE and NYSE
Arca after the company's failure to file its 2005 annual report
on Form 10-K and its quarterly reports on Form 10-Q during 2006
with the U.S. Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the U.S.

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).
Edmon L. Morton, Esq., Edwin J. Harron, Esq., Robert S. Brady,
Esq., Sean Matthew Beach, Esq., and Sean T. Greecher, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in
their restructuring efforts.

The Official Committee of Unsecured Creditors and the Financial
Members Sub-Committee of the Official Committee of Unsecured
Creditors of Sea Containers Ltd. is represented by William H.
Sudell, Jr., Esq., and Thomas F. Driscoll, Esq., at Morris,
Nichols, Arsht & Tunnell LLP.  Sea Containers Services, Ltd.'s
Official Committee of Unsecured Creditors is represented by
attorneys at Willkie Farr & Gallagher LLP.

In its schedules filed with the Court, Sea Containers Ltd.
disclosed total assets of US$62,400,718 and total liabilities of
US$1,545,384,083.

The Court extended the Debtors' exclusive period to file a Plan
of Reorganization to Sept. 28, 2007.  (Sea Containers Bankruptcy
News, Issue No. 25; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


UNIVERSAL AVIATION: Proofs of Claim Filing Ends Tomorrow
--------------------------------------------------------
Universal Aviation & Marine Risks Ltd.'s creditors are given
until Sept. 7, 2007, to prove their claims to Robin J. Mayor,
the company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Universal Aviation's shareholders agreed on Aug. 20, 2007, to
place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidator can be reached at:

         Robin J. Mayor
         Clarendon House, Church Street
         Hamilton, Bermuda


UNOCAL BANGLADESH: Proofs of Claim Must be Filed Tomorrow
---------------------------------------------------------
Unocal Bangladesh Block Five Ltd.'s creditors are given until
Sept. 7, 2007, to prove their claims to Gary R. Pitman, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Unocal Bangladesh shareholders agreed on Aug. 13, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

         Gary R Pitman
         Chevron House
         11 Church Street, Hamilton
         Bermuda


UNOCAL BANLADESH BLOCK: Proofs of Claim Filing Ends Tomorow
-----------------------------------------------------------
Unocal Bangladesh Block Ten Ltd.'s creditors are given until
Sept. 7, 2007, to prove their claims to Gary R. Pitman, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Unocal Bangladesh shareholders agreed on Aug. 13, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

         Gary R Pitman
         Chevron House
         11 Church Street, Hamilton
         Bermuda


UNOCAL SOUTH: Proofs of Claim Filing Deadline Is Tomorrow
---------------------------------------------------------
Unocal South Asia Energy Ltd.'s creditors are given until
Sept. 7, 2007, to prove their claims to Gary R. Pitman, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Unocal South's shareholders agreed on Aug. 13, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

         Gary R. Pitman
         Chevron House
         11 Church Street, Hamilton
         Bermuda




===========
B R A Z I L
===========


AAR CORP: Names Don Wetekam President of AAR Aircraft Services
--------------------------------------------------------------
AAR Corp. appoints Donald J. Wetekam as President of AAR
Aircraft Services -- Oklahoma.  Mr. Wetekam, who previously
served as Deputy Chief of Staff for Installations and Logistics
with the U.S. Air Force, will lead operations at AAR's 300,000-
square-foot, full-service maintenance, repair, and overhaul
(MRO) facility at Will Rogers World Airport, as well as AAR's
Hot Springs, Arkansas and Roswell, New Mexico MRO facilities.

"Don's extensive experience with MRO operations, private/public
partnerships and his proven leadership ability make him uniquely
qualified to head up these businesses," said Timothy J.
Romenesko, President and Chief Operating Officer of AAR Corp.
"Don is an excellent addition to our team and brings a deep
understanding of process and efficiency improvements that should
serve us well as we build upon the success of our MRO
operations."

Mr. Wetekam directed operations at Warner Robins Air Logistics
Center and played key leadership roles at the Oklahoma City Air
Logistics Center at Tinker Air Force Base.  As Deputy Chief of
Staff for Installations and Logistics he was a staunch advocate
for the adoption of commercial process improvement techniques,
such as Lean and Six Sigma, within the U.S. Air Force.

With locations in Oklahoma City, Oklahoma; Indianapolis,
Indiana; Hot Springs, Arkansas; and Roswell, New Mexico, AAR
Aircraft Services provides major maintenance inspections, line
maintenance, aircraft modifications and upgrades to the world's
major, regional and cargo airline fleets, and for the U.S.
military and government agencies.  Additional capabilities
include avionic service and installations; structural repair;
exterior and interior refurbishment; aircraft storage and
teardown as well as complete engineering services and support.

                          About AAR

AAR Corp. -- http://www.aarcorp.com/-- employs approximately
3,500 people at more than 40 locations around the world.  In
Latin America, the company has a sales office in Rio de Janeiro,
Brazil.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 04, 2006, in connection with Moody's Investors Service's
implementation of its new Probability-of-Default and Loss-Given-
Default rating methodology, the rating agency confirmed its B1
Corporate Family Rating for AAR Corp.


AMERICAN TOWER: Inks New US$500-Million Senior Unsec. Term Loan
---------------------------------------------------------------
American Tower Corporation said that it entered into a new
US$500 million senior unsecured term loan credit facility.

The company expects to receive net proceeds of approximately
US$498.5 million from the new term loan and will use
approximately US$450.0 million to repay certain existing
indebtedness under the company's continuing senior unsecured
revolving credit facility and the remainder for general
corporate purposes.

As a result, the company will have US$550.0 million outstanding
under its existing US$1.25 billion senior unsecured revolving
credit facility.  The new term loan has a term of five years,
maturing in full on Aug. 30, 2012.  The new term loan does not
require amortization of principal and may be paid prior to
maturity in whole or in part at the company's option without
penalty or premium; provided however, that the new term loan
requires its mandatory prepayment, subject to certain limited
exceptions, with the net proceeds from any future issuances,
offerings or placements of debt obligations or equity securities
by the Company, or by any of the Company's subsidiaries (other
than unrestricted subsidiaries), to unaffiliated third parties.

American Tower Corporation -- http://www.americantower.com/--
(NYSE: AMT) owns, operates and develops broadcast and wireless
communications sites.  American Tower owns and operates over
22,000 sites in the United States, Mexico and Brazil.
Additionally, American Tower manages approximately 2,000 revenue
producing rooftop and tower sites.


AMERICAN TOWER: Fitch Rates US$500-Million Term Loan at BB+
-----------------------------------------------------------
Fitch Ratings has assigned a 'BB+' rating to American Tower
Corporation's proposed five-year US$500 million senior term loan
facility.  Proceeds from the term loan facility will be used to
refinance existing indebtedness under the senior unsecured
revolving credit facility and for other general corporate
purposes.  The Rating Outlook is Stable.

AMT's ratings reflect the scale in its operations, which has
translated into strong operating performance and increased free
cash flow.  AMT's operating characteristics remain favorable,
resulting in some of the highest profitability measures for all
of corporate credits and reflective of the lower business risk
that results in a predictable and growing cash flow stream
generated primarily from investment grade national wireless
operators.  Fitch believes these characteristics more than
offset AMT's sizable share repurchase program and the higher
financial leverage for its rating category.  AMT should continue
to meaningfully improve its operating metrics due to scale
benefits and the expectations for continued wireless industry
demand. Fitch expects the 700 MHz auctions, scheduled to begin
in January 2008, will be an important driver for future revenue
growth.  Given the mandates associated with the spectrum
auction, Fitch believes that two new entrants could acquire a
material amount of spectrum for large-scale deployments.

Based on current capital allocation plans, Fitch expects
leverage for 2007 to be 4.5 times or less.  The liquidity
position is solid owing to its free cash flow, cash on hand and
undrawn revolver capacity when including the new facility.  Free
cash flow for the last twelve months was in excess of US$500
million.  The sizable US$1.5 billion share repurchase program
will be funded by free cash flow, existing cash and debt.  As of
July 26, 2007, AMT had repurchased a total of 16.7 million
shares of its class A common stock for an aggregate of US$678.1
million.  AMT expects to complete the share repurchase program
by February 2008.

The new term loan facility will provide AMT with additional
liquidity since the company had drawn approximately US$1 billion
of the US$1.25 billion as of June 30, 2007, on its senior
unsecured revolving credit facility that matures in 2012.  The
financial covenants for the new term loan facility are similar
to the terms of the existing US$1.25 billion revolver, which
includes the senior secured leverage ratio of 3.0x, total
borrower leverage ratio of 6.0x and interest coverage ratio of
2.5x.  The senior secured leverage covenant of 3.0x provides
additional capacity for future tower securitizations.  The new
term facility will also be subject to mandatory prepayment with
proceeds from any capital markets issuance.  Fitch expects any
new long-term debt to be issued by AMT.


BANCO NACIONAL: Grants BRL57-Million Financing to Enersul
---------------------------------------------------------
Banco Nacional de Desenvolvimento Economico e Social said in a
statement that it has authorized BRL57 million in financing for
power firm Empresa Energetica de Mato Grosso do Sul S.A. aka
Enersul.

Banco Nacional told Business News Americas that it will help
fund Enersul's investment plan and boost the firm's power
distribution.

According to BNamericas, Enersul's investments for 2007 are
expected to total BRL117 million.  The loan from Banco Nacional
will come through Santander Banespa and Banco do Brasil.

As reported in the Troubled Company Reporter-Latin America on
Oct. 9, 2006, Banco Nacional also ratified a BRL20.6-million
financing to Enersul for the implementation of an energy
distribution line with a 134-kilometer extension, in addition to
expansions and improvements of seven substations.  The project,
with a total investment of BRL40.6 million, was aimed at
connecting the three Pequenas Centrais Hidreletricas.

                        About Enersul

Empresa Energetica de Mato Grosso do Sul S.A. aka Enersul is an
integrated power company with hydroelectric generation
facilities of 47.2 megawatts and thermoelectric facilities of
48.2 megawatts, 84 substations, over 7,000 kilometers of
transmission lines and 50,000 km of distribution lines. It
serves 517,000 clients.

                     About Banco Nacional

Banco Nacional de Desenvolvimento Economico e Social is Brazil's
national development bank.  It provides financing for projects
within Brazil and plays a major role in the privatization
programs undertaken by the federal government.

                        *     *     *

As reported on Nov. 27, 2006, Standard & Poor's Ratings Services
changed the ratings outlook to Positive from Stable on Banco
Nacional de Desenvolvimento Economico e Social SA's BB Foreign
currency counterparty credit rating and BB+ local currency
counterparty credit rating.


BANCO NACIONAL: OKs BRL580MM Financing for Mineracao e Metalicos
----------------------------------------------------------------
Banco Nacional de Desenvolvimento Economico e Social posted on
its Web site that the bank has authorized a BRL580-million
financing for Brazilian mining and metals firm Mineracao e
Metalicos.

Business News Americas relates that the funds will be for
Mineracao e Metalicos' Amapa iron complex, which is being built
in Amapa.

According to BNamericas, the complex has:

          -- a 6.5-million ton per year iron ore mine,
          -- a two-million ton per year pig iron plant, and
          -- a 500,000-ton per year semi-finished products unit.

Mineracao e Metalicos would begin producing iron ore at Amapa in
2007, BNamericas states.

                About Mineracao e Metalicos

Brazilian-based Mineracao e Metalicos, is an exploration stage
company that develops integrated mining, mineral processing,
production and logistics operations for iron ore and
intermediate products for the steel industry.

                    About Banco Nacional

Banco Nacional de Desenvolvimento Economico e Social is Brazil's
national development bank.  It provides financing for projects
within Brazil and plays a major role in the privatization
programs undertaken by the federal government.

                        *     *     *

As reported on Nov. 27, 2006, Standard & Poor's Ratings Services
changed the ratings outlook to Positive from Stable on Banco
Nacional de Desenvolvimento Economico e Social SA's BB Foreign
currency counterparty credit rating and BB+ Local currency
counterparty credit rating.


CHAPARRAL STEEL: German Cartel Okays Gerdau Ameristeel Merger
-------------------------------------------------------------
Chaparral Steel Company and Gerdau Ameristeel Corporation have
received a letter dated Sept. 3, 2007, from the Federal Cartel
Office of the Federal Republic of Germany, clearing the
transaction.  The consummation of the merger remains subject to
customary conditions, including adoption of the Agreement and
Plan of Merger by Chaparral's stockholders.

In connection with the proposed transaction with Gerdau
Ameristeel Corporation, Chaparral filed a definitive proxy
statement with the Securities and Exchange Commission on
Schedule 14A on Aug. 10, 2007.  Investors and security holders
may obtain a free copy of the proxy statement and other
documents filed by Chaparral at the U.S. Securities and Exchange
Commission's Web site at http://www.sec.gov/ The proxy
statement and such other documents may also be obtained free of
charge by directing such request to Chaparral Investor
Relations, telephone (972) 779-1032 or on Chaparral's web site
at http://www.chapusa.com/

               Participants in the Solicitation

Chaparral and its directors, executive officers and certain
other members of its management and employees may be deemed to
be participants in the solicitation of proxies from its
stockholders in connection with the proposed transaction.
Information regarding the interests of such directors and
executive officers and information concerning all of Chaparral's
participants in the solicitation are included in the proxy
statement.  The proxy statement is available free of charge at
the Securities and Exchange Commission's Web Site at
http://www.sec.gov/and from Chaparral Investor Relations,
telephone (972) 779-1032 or on Chaparral's web site at
http://www.chapusa.com/

                    About Gerdau Ameristeel

Headquartered in Tampa, Florida, Gerdau Ameristeel Corporation
-- http://www.gerdauameristeel.com/-- (NYSE: GNA, TSX: GNA) is
a minimill steel producer in North America with annual
manufacturing capacity of over 9 million tons of mill finished
steel products.  Through its vertically integrated network of 17
minimills (including one 50%-owned joint venture minimill), 17
scrap recycling facilities and 51 downstream operations
(including seven joint venture fabrication facilities), Gerdau
Ameristeel serves customers throughout North America.  The
company's products are generally sold to steel service centers,
to steel fabricators, or directly to original equipment
manufacturers for use in a variety of industries, including
construction, automotive, mining, cellular and electrical
transmission, metal building manufacturing and equipment
manufacturing.  The company is a subsidiary of Brazil's Gerdau
SA.

                    About Chaparral Steel

Headquartered in Midlothian, Texas, Chaparral Steel Company
(NASDAQ: CHAP) -- http://www.chapusa.com/-- is a producer of
structural steel products in North America and also a major
producer of steel bar products.  It operates two mini-mills, one
located in Midlothian, Texas, and the other located in Dinwiddie
County, Virginia.  The company has approximately 1,400 employees
and an annual installed capacity of 2.9 million metric tons.

                        *     *     *

In July 2007, Moody's Investor Services placed Chaparral Steel
Company's probability of default and long term corporate family
ratings at Ba3.

At the same time, Standard and Poor's assigned a B+ rating on
the company's long term foreign and local issuer credits.


COMPANHIA SIDERURGICA: Exports Increase in First Seven Months
-------------------------------------------------------------
Companhia Siderurgica Nacional's exports increased in value in
the first seven months of 2007, compared to the same period in
2006, Business News Americas reports, citing Brazilian foreign
trade ministry Secex.

Free on board shipments from Companhia Siderurgica rose 74.9% to
US$614 million in the January to July 2007 period, from US$351
million in the same period last year, BNamericas states.

Headquartered Sao Paolo, Brazil, Companhia Siderurgica Nacional
S.A. -- http://www.csn.com.br/-- produces, sells, exports and
distributes steel products, like hot-dip galvanized sheets,
tin mill products and tinplate.  The company also runs its own
iron ore, manganese, limestone and dolomite mines and has
strategic investments in railroad companies and power supply
projects.  The group also operates in Brazil, Portugal and the
U.S.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 26, 2007, Standard & Poor's Ratings Services affirmed its
'BB' long-term corporate credit rating on Brazil-based steel
maker Companhia Siderurgica Nacional.  S&P said the outlook is
stable.


FORD MOTOR: Canadian Unit Reports 8.7% Sales Increase in August
---------------------------------------------------------------
Ford Motor Company of Canada Limited said Tuesday that sales
climbed in August, with overall sales hitting 8.7% over last
year's levels, led by Ford Fusion, Ford Escape, Lincoln MKZ and
others.

"We continue to welcome Canadian consumers into the Ford
family," said Bill Osborne, president and chief executive
officer, Ford Motor Company of Canada Limited.  "Throughout
2007, we have offered what we believe to be the best products in
the industry to our customers.  Now, the 2008 model-year line-up
delivers on innovation and style with new vehicles like the
redesigned 2008 Ford Focus, 2008 Ford Taurus and 2008 Ford
Taurus X."

In August, Ford of Canada saw overall combined sales increase to
23,130 units.  Total truck sales were up 13.9% at 17,496 units.
Although car sales of 5,634 units mark a 4.9% decline, the Ford
Fusion and Lincoln MKZ had strong sales with increases of 8.9%
and 54.7% respectively.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F)
-- http://www.ford.com/-- manufactures or distributes
automobiles in 200 markets across six continents.  With about
260,000 employees and about 100 plants worldwide, the company's
core and affiliated automotive brands include Ford, Jaguar, Land
Rover, Lincoln, Mercury, Volvo, Aston Martin, and Mazda.  The
company provides financial services through Ford Motor Credit
Company.

The company has operations in Japan in the Asia Pacific region.
In Europe, the company maintains a presence in Sweden, and the
United Kingdom.  The Company also distributes its brands in
various Latin American regions, including Argentina and Brazil.

                        *     *     *

To date, Ford Motor Company still carries Standard & Poor's
Ratings Services 'B' long-term foreign and local issuer credit
ratings and negative ratings outlook.

At the same time, the company carries Moody's Caa1 issuer and
senior unsecured debt ratings and negative ratings outlook.


FORD MOTOR: Reports 14% Decline in Overall U.S. Sales for August
----------------------------------------------------------------
Ford Motor Company disclosed on Tuesday that demand continues to
grow for the company's all-new and redesigned crossover
vehicles, but overall U.S. sales declined in August.

Total August sales were 218,332, down 14 percent compared with a
year ago.  Sales to daily rental companies were down 44 percent
and sales to individual retail customers were down 13 percent.

Ford, Lincoln and Mercury's all-new and redesigned crossover
utility sales were up 82 percent in August and up 48 percent
year-to-date, the largest increase of any major manufacturer.

"We are encouraged by consumers' response to our new products,"
said Mark Fields, Ford's president of the Americas.  "Demand for
our new crossovers continues to grow despite challenging
economic conditions."

In August, Ford Edge sales were 10,165 and Lincoln MKX sales
were 3,421.  The Edge and Lincoln MKX were introduced in
December 2006 and already are among the best sellers in the mid-
size and premium CUV segments.

Sales for the redesigned 2008 model Ford Escape and Mercury
Mariner crossovers were higher in August.  Escape sales were
11,960, up 4 percent, and Mariner sales were 2,939, up 6
percent.

Sales for the new Ford Expedition (up 17 percent) and Lincoln
Navigator (up 57 percent) also were higher than a year ago.
Expedition sales were up for the twelfth consecutive month.

The Lincoln brand posted its eleventh month in a row of higher
retail sales.  In August, total Lincoln sales were up 16 percent
(retail up 17 percent).  Year-to-date, total Lincoln sales were
up 13 percent (retail up 14 percent).  Lincoln's rebound
reflects the new Lincoln MKX crossover, the new Lincoln MKZ
sedan and the redesigned Navigator.

Land Rover dealers reported record August sales of 4,853, up 32
percent, reflecting the addition of the all-new LR2 crossover.
Land Rover sales were up 6 percent year-to-date.

                 North American Production

In the fourth quarter 2007, the company plans to produce 640,000
vehicles, up 6% compared with the fourth quarter 2006.  In the
third quarter 2007, the company plans to produce 640,000
vehicles, unchanged from the previous forecast.

"Our plan remains to align production capacity and inventories
with consumer demand," said Fields.  "Our second half production
is in line with this thinking."

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles
in 200 markets across six continents.  With about 260,000
employees and about 100 plants worldwide, the company's core and
affiliated automotive brands include Ford, Jaguar, Land Rover,
Lincoln, Mercury, Volvo, Aston Martin, and Mazda.  The company
provides financial services through Ford Motor Credit Company.

The company has operations in Japan in the Asia Pacific region.
In Europe, the company maintains a presence in Sweden, and the
United Kingdom.  The company also distributes its brands in
various Latin American regions, including Argentina and Brazil.

                        *     *     *

To date, Ford Motor Company still carries Standard & Poor's
Ratings Services 'B' long-term foreign and local issuer credit
ratings and negative ratings outlook.

At the same time, the company carries Moody's Caa1 issuer and
senior unsecured debt ratings and negative ratings outlook.
In June 2007, S&P raised the Issue Rating on Ford's senior
secured credit facilities to B+ from B.


FORD MOTOR: Reports 15 Aligned Business Framework Suppliers
-----------------------------------------------------------
Ford Motor Company has announced 15 new Aligned Business
Framework suppliers, eight of which are minority- and women-
owned business enterprises, furthering its progress toward a
leaner and more efficient supply chain.

    The new Aligned Business Framework suppliers are:

    Active Aero*               Gonzalez Production Systems*+
    Aristeo*                   Grupo Antolin Wayne+
    Bing Group+                Kuka Flexible Production Systems*
    Cooper Standard            Prime Wheel+
    Dakkota+                   Roush*
    Devon Industrial Group*+   Schneider Electric*
    Flex-N-Gate+               Siemens
    Global Parts and Maintenance*+

    * - Non-production Supplier
    + - MWBE Supplier
    No marking indicates Production Supplier

"The Aligned Business Framework business model is on track, and
is one of the many efforts to aggressively restructure
operations in order to operate profitably," said Tony Brown,
senior vice president, Global Purchasing.  "We are pleased with
the progress that we have made, and look forward to future
collaboration with our ABF network."

Ford has reached strategic agreement on 13 of the 20 high-impact
ABF commodities and systems identified earlier in the process.
The seven commodities with open strategies are due to supply
base restructuring actions and the potential impact to
Automotive Components Holdings (ACH) facilities, and will be
completed as soon as possible.

"We are continuing to forge stronger and better relationships
with our strategic suppliers," said Mr. Brown.  "We have always
known that the ABF process would not happen overnight.  We
recognize that it takes time to reach agreements and adopt the
principles, both internally and externally, but we are pleased
with the initial results."

The newly named ABF suppliers have a long and established
history in the Ford supply base, and by designating minority-
and women-owned business enterprises as ABF suppliers, Ford is
affirming its leadership in the area of supplier diversity
development.

The ABF program emphasizes Ford-supplier collaboration and
commitment and is an enabler through which minority- and women-
owned suppliers can build scale, achieve profitable growth and
become sustainable enterprises over the long term.

Since the fall of 2005, Ford has identified 45 production and 14
non-production ABF suppliers. Ford Motor Company has entered
into ABF agreements with these select suppliers to strengthen
collaboration and develop a sustainable business model to drive
mutual profitability and technology development.

                      About Ford Motor Co.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles
in 200 markets across six continents.  With about 260,000
employees and about 100 plants worldwide, the company's core and
affiliated automotive brands include Ford, Jaguar, Land Rover,
Lincoln, Mercury, Volvo, Aston Martin, and Mazda.  The company
provides financial services through Ford Motor Credit Company.

The company has operations in Japan in the Asia Pacific region.
In Europe, the Company maintains a presence in Sweden, and the
United Kingdom.  The Company also distributes its brands in
various Latin American regions, including Argentina and Brazil.

                        *     *     *

To date, Ford Motor Company still carries Standard & Poor's
Ratings Services 'B' long-term foreign and local issuer credit
ratings and negative ratings outlook.

At the same time, the company carries Moody's Caa1 issuer and
senior unsecured debt ratings and negative ratings outlook.
In June 2007, S&P raised the Issue Rating on Ford's senior
secured credit facilities to B+ from B.


FORD MOTOR: Tata Confirms Interest in Jaguar & Land Rover
---------------------------------------------------------
Ratan Tata, chairman of Tata Group and its vehicle-manufacturing
arm, has confirmed his interest in Jaguar and Land Rover during
an interview with CNN-IBN, following months of speculation that
Tata Motors Ltd. was considering a bid for the two units of Ford
Motor Company, the Wall Street Journal reports.

The acquisition, expected to cost more than US$1 billion, would
give Tata access to the technology and the networks it needs to
expand its presence abroad as well as to upgrade the vehicles it
offers in its booming home market.  The deal would also aid in
the group's plans to become one of India's first global brands
and diversify its businesses overseas, Eric Bellman in Mumbai
and Stephen Power in Frankfurt write for WSJ.

According to the WSJ report, Tata is expected to compete with
the private-equity firms that have expressed interest, including
J.P. Morgan Chase & Co.'s One Equity Partners LLC, led by former
Ford Chief Executive Jacques Nasser, and Ripplewood Holdings
Inc., which is being advised by former Ford executive Nick
Scheele.  Mahindra & Mahindra is presently conducting due
diligence on Jaguar and Land Rover although the Indian company
has hinted that it favors Land Rover over Jaguar, The Financial
Times states.

Meanwhile, the recent turmoil in the global credit markets is
affecting Ford's plans to sell Jaguar and Land Rover, with Ford
CEO Alan Mulally telling reporters it "absolutely is an issue"
although he insists it wasn't slowing down the sale, Reuters
relates.  He expects the dotted lines to be signed by late 2007
or early 2008.

In response to the market's volatility, Ford has told potential
buyers that they do not have to submit fully-financed bids in
the second round.  Ford would provide some of the financing
itself, according to people involved in the process, as
uncertainty in the credit markets has made leveraged buyouts
more difficult, Mr. Bellman and Mr. Power report for WSJ.

Concurrently, Mr. Mulally has joined calls for the Federal
Reserve to stimulate the economy, saying the housing crisis and
credit turmoil has made sustaining economic growth a "priority,"
adding that economic and credit conditions were a "big headwind"
to Ford's turnaround plans, FT relates.

                     About Ford Motor Co.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles
in 200 markets across six continents.  With about 260,000
employees and about 100 plants worldwide, the company's core and
affiliated automotive brands include Ford, Jaguar, Land Rover,
Lincoln, Mercury, Volvo, Aston Martin, and Mazda.  The company
provides financial services through Ford Motor Credit Company.

The company has operations in Japan in the Asia Pacific region.
In Europe, the Company maintains a presence in Sweden, and the
United Kingdom.  The Company also distributes its brands in
various Latin American regions, including Argentina and Brazil.

                        *     *     *

To date, Ford Motor Company still carries Standard & Poor's
Ratings Services 'B' long-term foreign and local issuer credit
ratings and negative ratings outlook.

At the same time, the company carries Moody's Caa1 issuer and
senior unsecured debt ratings and negative ratings outlook.
In June 2007, S&P raised the Issue Rating on Ford's senior
secured credit facilities to B+ from B.


GENERAL MOTORS: Canadian Unit's Sales Increase 3.2% in August
-------------------------------------------------------------
General Motors of Canada said Tuesday that its dealers delivered
a total of 38,707 vehicles for August, an increase of 3.2% over
the same month last year.

Marc Comeau, GM of Canada's vice-president of sales, service,
and marketing said, "Our August sales increase was the result of
strong performance across our entire portfolio.  Our new
crossover utilities performed exceptionally well as did GM's
leading selection of small, fuel efficient vehicles."

Comeau added "We are looking forward to an exciting fall with
the launch of the European styled Chevrolet Malibu, the all new
Cadillac CTS and additions to GM's hybrid portfolio, including
the new Malibu hybrid and two-mode hybrid versions of the
Chevrolet Tahoe and GMC Yukon."

Sales Highlights for August

  -- GM's all-new family of crossover vehicles continue to
     perform well with the GMC Acadia, Buick Enclave and Saturn
     Outlook driving a 69.8% increase in mid-utility sales.

  -- GM's broad selection of small, fuel-efficient cars were up
     a combined 10%

  -- GM's Pontiac Division posted strong gains, up 19.5%, driven
     by double digit increases for the G5, G6, Grand Prix and
     Solstice.

  -- Chevrolet Silverado and GMC Sierra 1500 series crew cabs
     posted a combined increase of 54.2%, driven by strong
     demand in Western Canada.

  -- GM saw growth in van sales with the affordable Chevrolet
     Uplander and Pontiac Montana SV6 up 25.2% and 45.9%,
     respectively.

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 280,000 people around the world and manufactures cars and
trucks in 33 countries, including the United Kingdom, Germany,
France, Russia, Brazil and India.  In 2006, nearly 9.1 million
GM cars and trucks were sold globally under the following
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden,
HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security
and information services.

                        *     *     *

As reported in the Troubled Company Reporter on May 28, 2007,
Standard & Poor's Ratings Services placed General Motors Corp.'s
corporate credit rating at B/Negative/B-3.

At the same time, Moody's Investors Service affirmed GM's B3
Corporate Family Rating and B3 Probability of Default Rating,
and maintained its SGL-3 Speculative Grade Liquidity Rating.
The rating outlook remains negative, according to Moody's.


GENERAL MOTORS: Says U.S. Sales for August Up by More Than 5%
-------------------------------------------------------------
General Motors Corp. said in a press statement Tuesday that its
dealers in the United States delivered 388,168 vehicles in
August, up more than 5% compared with year-ago monthly sales, a
strong performance that resulted in an anticipated highest-of-
the-year market share of nearly 26 percent.  Brisk sales of
full-size pickups and crossover SUVs led the increase.

"Bucking the trend in the industry, we were able to post healthy
sales results in August.  When combining retail sales with our
growing commercial business, our sales were up when compared
with last August.  Importantly, last month was our third-best
retail month of the year," said Mark LaNeve, vice president, GM
North America Vehicle Sales, Service and Marketing.  "With the
double-digit decline in daily rental sales so far this year, and
an overall market that remains challenging and competitive, we
continue to stabilize our retail share and pricing in the
market."

Customers are also recognizing the quality of GM products.  A
recent study ranked Buick number one (tied with Lexus) in
vehicle dependability.  Another customer service survey has
every GM brand above the industry average score -- better than
Toyota, Mercedes-Benz, Chrysler, Ford and Land Rover.  "The myth
of import superiority is being destroyed.  In countless
independent consumer surveys, blogs and expert reviews, it is
becoming increasingly evident that we build the highest quality
vehicles and deliver them with world-class service," LaNeve
noted.

Overall incentive spending was flat compared with a year ago.
August inventories were down about 34,000 vehicles to
approximately 945,000 vehicles.

"August performance shows we're hitting the sweet spot on truck
programs, and our award-winning Chevy Silverado and GMC Sierra
full-size pickups are making important contributions on the
retail side," LaNeve added.  "Importantly, these vehicles
contributed a 30% increase in full-size pickup retail sales,
with Sierra kicking in more than 22,500 retail sales in the
month.  We are also pleased with the ongoing success of the GMC
Acadia, Saturn OUTLOOK and Buick Enclave.  They are driving our
mid-utility crossover segment growth, which is up more than 400
percent compared with a year ago despite short inventories.  As
with many of our vehicles, these all-new crossovers offer
segment-leading fuel economy, terrific performance and
outstanding value."

The GMC Acadia, Saturn OUTLOOK and Buick Enclave together had
retail sales of more than 10,400 vehicles, pushing the
significant retail increase in GM's mid-crossover segment.

GM has 24 vehicles in the 2007 model lineup that achieve an EPA-
estimated 30 mpg highway or better.

Warranty coverage has increased substantially as a reason
consumers cite when buying a new GM vehicle.  GM's 5
Year/100,000 Mile Powertrain Limited Warranty continues to be a
better choice for customers.  GM's coverage focuses on the
complete ownership experience and includes other provisions that
competitors do not offer, including transferability to the next
owner, more complete coverage of parts, and coverage for new and
certified used vehicles.  In addition, GM offers superior
complementary programs, such as courtesy transportation and
roadside assistance.  "GM provides the best coverage in the
industry and takes care of the vehicle and the owner like no
other vehicle manufacturer," LaNeve added.

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 280,000 people around the world and manufactures cars and
trucks in 33 countries, including the United Kingdom, Germany,
France, Russia, Brazil and India.  In 2006, nearly 9.1 million
GM cars and trucks were sold globally under the following
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden,
HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security
and information services.

                        *     *     *

As reported in the Troubled Company Reporter on May 28, 2007,
Standard & Poor's Ratings Services placed General Motors Corp.'s
corporate credit rating at B/Negative/B-3.

At the same time, Moody's Investors Service affirmed GM's B3
Corporate Family Rating and B3 Probability of Default Rating,
and maintained its SGL-3 Speculative Grade Liquidity Rating.
The rating outlook remains negative, according to Moody's.


GEOKINETICS INC: Hires Two New Executive Officers
-------------------------------------------------
Geokinetics Inc. has appointed two executive officers effective
Sept. 1, 2007.

Jim White, a senior executive with over 25 years of operational
experience in the seismic industry, was appointed Executive Vice
President -- North American Operations reporting to Richard F.
Miles, the President and Chief Executive Officer of Geokinetics.
In this role, Mr. White will manage all acquisition, processing,
and interpretation operations in the United States and Canada.
Mr. White joined Geokinetics in Dec. 2005 through the
acquisition of Trace Energy Services, Inc., where he served as
the President and Chief Executive Officer since Feb. 2004.
Prior to that, Mr. White spent 25 years with WesternGeco in a
variety of operational roles, including Vice President for North
and South America.  Mr. White holds a Bachelors degree in
Geological Sciences from Penn State University.

Lee Parker, a senior executive with over 15 years of technical
and managerial experience in the seismic industry, was appointed
Executive Vice President -- International Operations reporting
to Mr. Miles.  In this role, Mr. Parker will manage all
international acquisition operations. Mr. Parker joined
Geokinetics in September 2006 through the acquisition of Grant
Geophysical, Inc., where he spent over 14 years in various
technical and managerial roles in Europe, Africa, South America,
and the United States, most recently serving as Vice President
-- Technology.  Mr. Parker holds a Bachelors degree in
Electronic Engineering from the University of Southampton.

Mr. Miles commented, "On behalf of the Board of Directors, I am
pleased to announce the promotions of Jim and Lee as executive
officers of Geokinetics.  We are fortunate to have these two
highly qualified individuals as part of our management team.
They both have a wealth of seismic operational experience and
will play a key role as we continue upon our growth
initiatives."

Headquartered in Houston, Texas, Geokinetics Inc. --
http://www.geokineticsinc.com/-- is a global leader of seismic
acquisition and high-end seismic data processing and
interpretation services to the oil and gas industry.
Geokinetics provides seismic data acquisition services in North
America, Indonesia, Norway and Brazil.  Geokinetics operates in
some of the most challenging locations in the world from the
Arctic to mountainous jungles to the transition zone
environments.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 23, 2007, Moody's Investors Service has withdrawn all the
ratings for Geokinetics Inc. following the company's redemption
of all of its rated bonds with the proceeds of an equity
offering.  Moody's does not rate any other debt for Geokinetics.

The ratings withdrawn are the B3 corporate family rating and
probability of default rating, the SGL-3 speculative liquidity
rating and the B3, LGD4 (53%) rating on the US$110 million
second priority senior secured floating rate notes due 2012.


GSI GROUP: Appoints Anthony Bellantuoni VP of Human Resources
-------------------------------------------------------------
GSI Group Inc. has disclosed that Anthony Bellantuoni has
accepted the position of Vice President of Human Resources.

"Anthony is an accomplished Human Resources leader, and has held
numerous senior roles in high-technology companies, including
international assignments in Asia/Pacific and Europe.  He brings
organizational development, management mentorship, change
management, and compensation practice experience, as well as his
enthusiasm, to GSI Group," stated Dr. Sergio Edelstein,
president and chief executive officer.

Mr. Bellantuoni joins GSI from Dassault Systemes where he served
as Vice President of Human Resources for their ENOVIA Division,
a global US$350 million business with 1,100 employees.  Prior to
this assignment, he was Vice President, Human Resources and
Administration for the SIMULIA Division of Dassault Systemes,
formerly ABAQUS, Inc.  Before joining ABAQUS, Mr. Bellantuoni
was Senior Vice President of Human Resources at ePresence, a
network operating systems company.  He also spent 18 years in
various human resources roles at Wang Laboratories, where he
established the Asia/Pacific HR function.

                     About The GSI Group

Based in Illinois, GSI Group Inc. --
http://www.grainsystems.com/-- manufactures agricultural
equipment.  The company's grain, swine and poultry products are
used by producers and purchasers of grain, and by producers of
swine and poultry.  The company is comprised of several
manufacturing divisions.  Grain Systems (GSI), and GSI
International are the grain storage, drying and material
handling divisions of The GSI Group.  The group has operations
in Mexico and Brazil.

GSI manufactures galvanized steel storage bins and many types of
grain drying systems including portable, stacked, tower and
process dryers. In addition, GSI carries a full line of material
handling equipment including augers, bin sweeps, bucket
elevators, conveyors, distributors, chain loop systems, and
grain spreaders.

The GSI Group markets its products to over 75 countries
worldwide through a network of independent dealers to
grain/protein producers and large commercial businesses.

                        *     *     *

As reported in the Troubled Company Reporter on July 18, 2007,
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Assumption, GSI Group Inc. and revised its
outlook to stable from negative.

As reported in the Troubled Company Reporter-Latin America on
May 2, 2005, Moody's Investors Service has assigned a B3 rating
to the proposed senior notes of The GSI Group, Inc., which will
be used to refinance existing indebtedness in connection with
the company's pending acquisition by GSI Holdings Corp. (an
affiliate of Charlesbank Capital Partners, LLC).  In addition,
Moody's has affirmed GSI's existing ratings, including its B2
senior implied rating, and assigned a speculative grade
liquidity rating of SGL-2.  Approximately US$125 Million of
rated debt is affected.


PETROLEOS DE VENEZUELA: Abreu Plant Project Starts without Firm
---------------------------------------------------------------
Venezuelan state-owned oil firm Petroleos de Venezuela SA has
failed to take part in its Abreu e Lima plant project with
Brazilian counterpart Petroleo Brasileiro SA, Business News
Americas reports.

BNamericas relates that Petroleo Brasileiro wants to collaborate
with Petroleos de Venezuela on the project.  However, the
Venezuelan company's participation depends on an asset swap deal
between the two firms.

According to BNamericas, Petroleo Brasileiro began the
groundwork for the construction of refinery without project
partner Petroleos de Venezuela.

BNamericas notes that Abreu e Lima is designed to process:

          -- 200,000 barrels of oil per day,

          -- 814,000 cubic meters of petrochemical naphtha
             yearly,

          -- 322,000 tons per year of liquefied petroleum gas,

          -- 8.8 million tons a year of diesel fuel, and

          -- 1.4 million tons per year of oil coke per year.

Petroleo Brasileiro told BNamericas that the plant chiefly
produce diesel fuel, particularly for supplying increased demand
for derivatives in the northeast.  It will be the first to
process 100% heavy oil, which represents almost 80% of all the
oil produced in Brazil.

Abreu e Lima will cost some US$4.05 billion.  It will launch
operations in the second half of 2010, BNamericas states.

                  About Petroleo Brasileiro

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA
aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp-
- was founded in 1953.  The company explores, produces, refines,
transports, markets, distributes oil and natural gas
and power to various wholesale customers and retail distributors
in Brazil. Petrobras has operations in China, India, Japan, and
Singapore.

                About Petroleos de Venezuela

Petroleos de Venezuela SA -- http://www.pdv.com/-- is
Venezuela's state oil company in charge of the development of
the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the
operational activities of its divisions, both in Venezuela and
abroad.  The company has a commercial office in China.

As reported on March 28, 2007, Standard & Poor's Ratings
Services assigned its 'BB-' senior unsecured long-term credit
rating to Petroleos de Venezuela S.A.'s US$2 billion notes due
2017, US$2 billion notes due 2027, and US$1 billion notes due
2037.


PETROLEOS DE VENEZUELA: Hasn't Forged Plant Deal with Petrobras
---------------------------------------------------------------
Brazilian state-oil company Petroleo Brasileiro S.A. is on the
first stage of its plan to put up a US$4.5 billion refinery in
Pernambuco state, a project it developed with Petroleos de
Venezuela S.A., El Universal reports, citing a company
statement.

The Brazilian company held a ceremony Monday to jumpstart the
refinery's construction on the outskirts of Recife, the biggest
city in the Brazilian Northeast and the capital city of
Pernambuco state, according to a report from Efe news agency.
Petroleo Brasileiro did not say if the event was attended by any
Venezuelan authority.

The two state firms have not reached an agreement yet but
Petroleo Brasileiro is willing to take up the project on its own
if it can't forge a deal with its Venezuelan counterpart, El
Universal relates.

Bloomberg News reported that in their initial talk, Petroleo
Brasileiro is to hold a 60% stake in the refinery, while the
rest of the remaining stake would go to Petroleos de Venezuela.
Once operational, the refinery is expected to produce 200
barrels of crude per day.

As previously reported, the construction of the refinery would
give Petroleo Brasileiro the chance to stop Venezuelan President
Hugo Chavez's attempt at seizing the Brazilian company's 40%
stake in Carabobo field in the Orinoco oil belt in Venezuela.
About 100,000 barrels a day of crude from Carabobo will be
processed in the Pernambuco refinery.

                About Petroleo Brasileiro

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA
aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp
-- was founded in 1953.  The company explores, produces,
refines, transports, markets, distributes oil and natural gas
and power to various wholesale customers and retail distributors
in Brazil. Petrobras has operations in China, India, Japan, and
Singapore.

              About Petroleos de Venezuela

Petroleos de Venezuela SA -- http://www.pdv.com/-- is
Venezuela's state oil company in charge of the development of
the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the
operational activities of its divisions, both in Venezuela and
abroad.  The company has a commercial office in China.

As reported on March 28, 2007, Standard & Poor's Ratings
Services assigned its 'BB-' senior unsecured long-term credit
rating to Petroleos de Venezuela S.A.'s US$2 billion notes due
2017, US$2 billion notes due 2027, and US$1 billion notes due
2037.


SANYO ELECTRIC: Is Accepting Bid Offers for Semiconductor Unit
--------------------------------------------------------------
Sanyo Electric Co., Ltd., has accepted final bids from companies
seeking to buy a majority stake in its semiconductor business,
sources close to Kyodo News discloses.

According to Kyodo's sources, a number of firms submitted bids
for the Sanyo Semiconductor Co., with prices offered for the
takeover coming to below JPY100 billion, among these interested
parties is an investment firm.

The Osaka-based consumer electronics manufacturer is to pick the
successful buyer by the end of September, Kyodo News states.

Headquartered in Osaka, Japan, Sanyo Electric Co., Ltd. --
http://www.sanyo.com/-- is one of the world's leading
manufacturers of consumer electronics products.  The company has
global operations in Brazil, Germany, India, Ireland, Spain, the
United States and the United Kingdom, among others.

                        *     *     *

In March 2, 2007, Fitch Ratings placed SANYO Electric Co. Ltd.'s
BB+ long-term foreign and local currency issuer default and
senior unsecured ratings on rating watch negative.


TRANSAX INT'L: June 30 Balance Sheet Upside Down by US$3.4 Mil.
---------------------------------------------------------------
Transax International Limited delivered its financial results
for the quarter ended June 30, 2007, to the U.S. Securities and
Exchange Commission on Aug. 20, 2007.

At June 30, 2007, the company's balance sheet showed
US$2,023,182 in total assets, US$5,486,325 in total liabilities
resulting in a US$3,463,143 stockholders' deficit.

The company reported a US$189,703 net loss on US$1,337,676
revenue for the three months ended June 30, 2007, compared with
a US$1,302,259 net loss on US$1,034,844 revenue for the three
months ended June 30, 2006.

The company's consolidated balance sheet at June 30, 2007, also
showed strained liquidity with US$793,080 in total current
assets available to pay US$4,986,582 in total current
liabilities.

A full-text copy of the regulatory filing is available for free
at:

http://sec.gov/Archives/edgar/data/1097896/000116169707000966/transax10qs
b.txt

                     Going Concern Doubt

Moore Stephens P.C. expressed substantial doubt about Transax
International's ability to continue as a going concern after it
audited the company's financial statements for the year ended
Dec 31, 2006 and 2005.  The auditing firm pointed to the
company's accumulated losses from operations of approximately
US$12.9 million, a working capital deficit of approximately
US$4.4 million and a net capital deficit of approximately US$3.5
million at Dec. 31, 2006.

                 About Transax International

Based in Miami, Florida, Transax International Limited (OTCBB:
TNSX) -- http://www.transax.com/-- provides health information
management systems to hospitals, physicians and health insurance
companies.  The company's subsidiaries, TDS Telecommunication
Data Systems LTDA provides services in Brazil; Transax Australia
Pty. Ltd. operates in Australia; and Medlink Technologies Inc.
initiates research and development.


WEIGHT WATCHERS: Declares US$0.175 Per Share Quarterly Dividend
---------------------------------------------------------------
Weight Watchers International Inc.'s Board of Directors has
declared its quarterly cash dividend of US$0.175 per share,
which corresponds to an annual dividend rate of US$0.70 per
share.  This quarterly dividend will be payable on
Oct. 12, 2007, to shareholders of record at the close of
business on Sept. 28, 2007.

                    About Weight Watchers

Headquartered in New York, U.S.A., Weight Watchers International
Inc. (NYSE: WTW) -- http://www.weightwatchersinternational.com/
-- provides weight management services, with a presence in 30
countries around the world, including Brazil, Netherlands, and
New Zealand.  The company serves its customers through Weight
Watchers branded products and services, including meetings
conducted by Weight Watchers International and its franchisees.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 06, 2007, Weight Watchers International, Inc., had total
assets of US$1 billion, total liabilities of US$2 billion,
resulting in a total stockholders' deficit of US$1 billion as of
March 31, 2007.

The company's balance sheet as of Mar. 31, 2007, also showed
strained liquidity with total current assets of US$268.2 million
and total current liabilities of US$186.6 million.

For the first quarter of 2007, net revenues increased US$57.4
million or 16.8% to US$399.4 million, up from US$342 million in
the first quarter of 2006.  Net income for the first quarter of
2007 was US$53.8 million, as compared with US$57 million for the
first quarter of 2006.


* BRAZIL: IFC to Focus on Midsize Companies & Sustainability
------------------------------------------------------------
Lars Thunell, International Finance Corp. Executive Vice
President and Chief Executive Officer, concluded his visit to
Brazil last week by emphasizing the priorities for IFC's work
with the country's private sector.  IFC will focus on midsize
companies that can benefit from its expertise and with midsize
banks that can expand access to finance for small and medium
enterprises.  IFC will also continue leading on issues of
sustainability, particularly in the Amazon.

This was Mr. Thunell's first official trip to Brazil as head of
IFC.  He visited to see first-hand some of IFC's operations in
the country, and to learn more about the complexities of
sustainable development in the Brazilian Amazon.

"Midsize Brazilian companies have the capacity to go global,"
said Mr. Thunell, "and we are interested in supporting their
growth."  He added that IFC's strategy to move closer to the
mid-market segment, while reflecting liquidity in the market, is
primarily an effort to help companies become global players by
raising social and environmental standards as well as overall
corporate governance.  For example, during his visit Thunell
signed a US$40 million financing for Sabo, a supplier of auto
parts headquartered in Sao Paulo.  IFC's investment supports the
company's expansion and will help the family-owned business
become more competitive in the global market.

IFC's strategy also envisions working more with Brazil's midsize
banks to ensure that credit is available to smaller businesses.
The focus is on underserved people and regions and on types of
financing with strong potential to advance the country's
development, such as student loans and housing finance.  For
instance, IFC made an equity investment in Banco Fibra, a bank
that is expanding into Brazil's less prosperous northeast.

          Sustainability & The Amazon Rain Forest

"Brazil is a clear leader on issues of sustainability.  I am
struck by the number of banks that have adopted the Equator
Principles, as well as the quality and commitment of many of the
clients and entrepreneurs I have met.   And the country's whole
renewable energy sector is booming," stated Mr, Thunell.

During the visit, IFC announced that it will provide Banco ABN
AMRO Real with a US$200 million sustainability credit line,
enabling Banco Real to fund clients' projects that have a
significant impact on environmental and social sustainability.

"For both IFC and Banco Real, this is an important milestone,
not only because of the size of the credit line, but also
because it demonstrates how our two institutions are continuing
to set high benchmarks for sustainability-related lending," said
Mr. Thunell.  He added that IFC's partnership with Banco Real
continues to heighten awareness in Brazil's financial and
commercial sectors of the great business potential for
sustainability-related banking.

Mr. Thunell also visited parts of the Amazon.  In Manaus, the
capital of the state of Amazonas, he discussed the region's
sustainable development with Governor Eduardo Braga.  Mr.
Thunell also visited the industrial sector.

"What I found most surprising to see up close is the scope and
diversity of the Amazon," said Mr. Thunell.  "The issues here
are big and complex.  One key challenge is to create incentives
for business operations that make illegal activity less and less
rewarding.  What we need to do is improve the economics for
sustainable business."

Mr. Thunell also participated at a roundtable discussion with
Brazilian NGOs working in the Amazon.  He noted that IFC can
play a catalytic role in the region's development by promoting a
coalition among various stakeholders, including the private
sector, to strengthen supply chains, especially in agribusiness
and forestry.

Atul Mehta, IFC Director for Latin America and the Caribbean,
and Andrew Gunther, IFC's Brazil Country Manager accompanied
Thunell during the visit.  The trip included a stop in Brasilia
to meet with the President's Chief of Staff, Mrs. Dilma Roussef,
to discuss ways of working together to improve Brazil's
infrastructure.

                          About IFC

International Finance Corp. -- http://www.ifc.org/-- a member
of the World Bank Group, fosters sustainable economic growth in
developing countries by financing private sector investment,
mobilizing capital in the international financial markets, and
providing advisory services to businesses and governments.
IFC's vision is that poor people have the opportunity to escape
poverty and improve their lives.  In Fiscal Year 2006, IFC
committed US$8.3 billion, including syndications, to 284
investments in 66 developing countries.

                    About Brasil Telecom

Headquartered in Brasilia, Brazil, Brasil Telecom Participacoes
SA -- http://www.brasiltelecom.com.br-- is a holding company
that conducts substantially all of its operations through its
wholly owned subsidiary, Brasil Telecom SA.  The fixed-line
telecommunications services offered to the company's customers
include local services, including all calls that originate and
terminate within a single local area in the region, as well as
installation, monthly subscription, measured services, public
telephones and supplemental local services; intra-regional
long-distance services, which include intrastate and interstate
calls; interregional and international long-distance services;
network services, including interconnection and leasing; data
transmission services; wireless services, and other services.

                        *     *     *

As reported on Nov. 24, 2006, Standard & Poor's Ratings Services
revised its outlook on its long-term ratings on the Federative
Republic of Brazil to positive from stable.  Standard & Poor's
also affirmed these ratings on the Republic of Brazil:

  -- 'BB' for long-term foreign currency credit rating,
  -- 'BB+' for long-term local currency credit rating, and
  -- 'B' for short-term currency sovereign credit rating.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign
and local currency sovereign Issuer Default Ratings to 'BB+'
from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'.  In
addition, Fitch affirmed Brazil's Short-term IDR at 'B'.  Fitch
said the rating outlook is stable.


* BRAZIL: Petroleo Brasileiro Kicks Off Pernambuco Plant Works
--------------------------------------------------------------
Brazilian state-oil company Petroleo Brasileiro S.A. is on the
first stage of its plan to put up a US$4.5 billion refinery in
Pernambuco state, a project it developed with Petroleos de
Venezuela S.A., El Universal reports, citing a company
statement.

The Brazilian company held a ceremony Monday to jumpstart the
refinery's construction on the outskirts of Recife, the biggest
city in the Brazilian Northeast and the capital city of
Pernambuco state, according to a report from Efe news agency.
Petroleo Brasileiro did not say if the event was attended by any
Venezuelan authority.

The two state firms have not reached an agreement yet but
Petroleo Brasileiro is willing to take up the project on its own
if it can't forge a deal with its Venezuelan counterpart, El
Universal relates.

Bloomberg News reported that in their initial talk, Petroleo
Brasileiro is to hold a 60% stake in the refinery, while the
rest of the remaining stake would go to Petroleos de Venezuela.
Once operational, the refinery is expected to produce 200
barrels of crude per day.

As previously reported, the construction of the refinery would
give Petroleo Brasileiro the chance to stop Venezuelan President
Hugo Chavez's attempt at seizing the Brazilian company's 40%
stake in Carabobo field in the Orinoco oil belt in Venezuela.
About 100,000 barrels a day of crude from Carabobo will be
processed in the Pernambuco refinery.

              About Petroleos de Venezuela

Petroleos de Venezuela SA -- http://www.pdv.com/-- is
Venezuela's state oil company in charge of the development of
the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the
operational activities of its divisions, both in Venezuela and
abroad.  The company has a commercial office in China.

                 About Petroleo Brasileiro

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA
aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp
-- was founded in 1953.  The company explores, produces,
refines, transports, markets, distributes oil and natural gas
and power to various wholesale customers and retail distributors
in Brazil. Petrobras has operations in China, India, Japan, and
Singapore.

                        *     *     *

As reported on Nov. 24, 2006, Standard & Poor's Ratings Services
revised its outlook on its long-term ratings on the Federative
Republic of Brazil to positive from stable.  Standard & Poor's
also affirmed these ratings on the Republic of Brazil:

  -- 'BB' for long-term foreign currency credit rating,
  -- 'BB+' for long-term local currency credit rating, and
  -- 'B' for short-term currency sovereign credit rating.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign
and local currency sovereign Issuer Default Ratings to 'BB+'
from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'.  In
addition, Fitch affirmed Brazil's Short-term IDR at 'B'.  Fitch
said the rating outlook is stable.


* BRAZIL: State Firm Launches NatGas Output at Amazon Fields
------------------------------------------------------------
Brazilian state-owned oil firm Petroleo Brasileiro SA's
exploration and production director Guilherme Estrella told
Bernd Radowitz at Dow Jones Newswires that the company will
begin natural gas production from fields deeper into the Amazon.

According to Dow Jones, Petroleo Brasileiro had discovered these
fields over 30 years ago:

          -- Jurua,
          -- Jaraqui, and
          -- Sao Mateus.

However, Petroleo Brasileiro hasn't started production in those
fields due to their remote location in the deep Amazon
rainforest.

Dow Jones relates Petroleo Brasileiro will start output at three
fields between 150 and 200 kilometers west of its already
producing Urucu unit to maintain a 20-year contract to provide
Manaus with 5.5 million cubic meters of gas per day.

Petroleo Brasileiro will drill 23 new exploration wells in the
Solimoes and Amazonas, mostly in the new fields, Dow Jones
notes.

"Gas from Jurua, Jaraqui and Sao Mateus will be important" once
output at the Urucu field would drop in about 2012, Mr. Estrella
told Dow Jones.

                  About Petroleo Brasileiro

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA
aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp
-- was founded in 1953.  The company explores, produces,
refines, transports, markets, distributes oil and natural gas
and power to various wholesale customers and retail distributors
in Brazil.  Petrobras has operations in China, India, Japan, and
Singapore.

                        *     *     *

As reported on Nov. 24, 2006, Standard & Poor's Ratings Services
revised its outlook on its long-term ratings on the Federative
Republic of Brazil to positive from stable.  Standard & Poor's
also affirmed these ratings on the Republic of Brazil:

  -- 'BB' for long-term foreign currency credit rating,
  -- 'BB+' for long-term local currency credit rating, and
  -- 'B' for short-term currency sovereign credit rating.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign
and local currency sovereign Issuer Default Ratings to 'BB+'
from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'.  In
addition, Fitch affirmed Brazil's Short-term IDR at 'B'.  Fitch
said the rating outlook is stable.




===========================
C A Y M A N   I S L A N D S
===========================


ADROIT PRIVATE: Will Hold Final Shareholders Meeting Tomorrow
-------------------------------------------------------------
Adroit Private Equity (Offshore) Ltd. will hold its final
shareholders meeting on Sept. 7, 2007, at 11:00 a.m., at:

         Fourth Floor, One Capital Place
         P.O. Box 847
         George Town, Grand Cayman
         Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

         Trident Directors (Cayman) Ltd.
         Attention: Kimbert Solomon
         P.O. Box 847
         George Town, Grand Cayman KY1-1103
         Cayman Islands
         Tel: (345) 949 0880
         Fax: (345) 949 0881


ANTHRACITE BALANCED: Proofs of Claim Filing Ends on Oct. 1
----------------------------------------------------------
Anthracite Balanced Company (14) Ltd.'s creditors are given
until Oct. 1, 2007, to prove their claims to Scott Aitken and
Connan Hill, the company's liquidators, or be excluded from
receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Anthracite Balanced shareholders agreed on Aug. 15, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       Scott Aitken
       Connan Hill
       P.O. Box 1109
       George Town, Grand Cayman
       Cayman Islands
       Telephone: (345) 949-7755
       Fax: (345) 949-7634


ANTHRACITE BALANCED: Proofs of Claim Filing Deadline Is Oct. 3
--------------------------------------------------------------
Anthracite Balanced Company (R-2) Ltd.'s creditors are given
until Oct. 3, 2007, to prove their claims to Scott Aitken and
Connan Hill, the company's liquidators, or be excluded from
receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Anthracite Balanced's shareholder agreed on Aug. 16, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       Scott Aitken
       Connan Hill
       P.O. Box 1109
       George Town, Grand Cayman
       Cayman Islands
       Telephone: (345) 949-7755
       Fax: (345) 949-7634


ANTHRACITE BALANCED: Sets Final Shareholders Meeting for Oct. 1
---------------------------------------------------------------
Anthracite Balanced Company (14) Ltd. will hold its final
shareholders meeting on Oct. 1, 2007, at 10:00 a.m., at:

          P.O. Box 1109
          George Town, Grand Cayman
          Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of five years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

         Scott Aitken
         Connan Hill
         P.O. Box 1109
         George Town, Grand Cayman
         Cayman Islands
         Tel: (345) 949-7755
         Fax: (345) 949-7634


ANTHRACITE BALANCED (R-6): Proofs of Claim Filing Ends on Oct. 3
----------------------------------------------------------------
Anthracite Balanced Company (R-6) Ltd.'s creditors are given
until Oct. 3, 2007, to prove their claims to Scott Aitken and
Connan Hill, the company's liquidators, or be excluded from
receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Anthracite Balanced's shareholder agreed on Aug. 16, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       Scott Aitken
       Connan Hill
       P.O. Box 1109
       George Town, Grand Cayman
       Cayman Islands
       Telephone: (345) 949-7755
       Fax: (345) 949-7634


ANTHRACITE MASTER: Final Shareholders Meeting Is on Oct. 1
----------------------------------------------------------
Anthracite Master Company (3) Ltd. will hold its final
shareholders meeting on Oct. 1, 2007, at 10:00 a.m., at:

          P.O. Box 1109
          George Town, Grand Cayman
          Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of five years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

         Scott Aitken
         Connan Hill
         P.O. Box 1109
         George Town, Grand Cayman
         Cayman Islands
         Tel: (345) 949-7755
         Fax: (345) 949-7634


ANTHRACITE MASTER: Proofs of Claim Filing Deadline Is Oct. 1
------------------------------------------------------------
Anthracite Master Company (3) Ltd.'s creditors are given until
Oct. 1, 2007, to prove their claims to Scott Aitken and Connan
Hill, the company's liquidators, or be excluded from receiving
any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Anthracite Master's shareholders agreed on Aug. 15, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       Scott Aitken
       Connan Hill
       P.O. Box 1109
       George Town, Grand Cayman
       Cayman Islands
       Telephone: (345) 949-7755
       Fax: (345) 949-7634


ASIAN CONVERTIBLES: Proofs of Claim Must be Filed by Sept. 24
-------------------------------------------------------------
The Asian Convertibles And Income Fund's creditors are given
until Sept. 24, 2007, to prove their claims to Matthew Borthwick
and Tim Fitzgerald, the company's liquidators, or be excluded
from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Asian Convertibles' shareholders agreed to place the company
into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

       Matthew Borthwick
       Tim Fitzgerald
       Deutsche Bank (Cayman) Limited Trustee
       Attention: Jodi Jones
       P.O. Box 258, Grand Cayman KY1-1104
       Cayman Islands
       Telephone: (345) 914 8694
       Fax: (345) 945 4237


BAILEY COATES: Will Hold Final Shareholders Meeting on Sept. 7
--------------------------------------------------------------
Bailey Coates (Cayman) Ltd. will hold its final shareholders
meeting on Sept. 7, 2007, at 10:00 a.m., at the office of the
company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

         Gordon I. Macrae
         Attention: Korie Drummond
         Kroll (Cayman) Limited
         4th Floor
         Bermuda House, Dr. Roy's Drive
         Grand Cayman, Cayman Islands
         Tel: (345) 946-0081
         Fax: (345) 946-0082


BANK OF INDIA: To Revalue Some Fixed Assets
-------------------------------------------
The Bank of India will revalue some of its fixed assets, a
regulatory filing with the Bombay Stock Exchange discloses.

The bank's board of directors, at its meeting on Aug. 22, 2007,
decided to revalue identified fixed assets and take into account
the appreciation in the value during the current quarter.

As part the guidelines of the Reserve Bank of India, 45% of
revaluation reserves are accounted as Tier II Capital, the BSE
filing says.  Hence, the bank's Tier II Capital will increase
once the process of revaluation is completed and the reassessed
value of fixed assets is crystallized.

Headquartered in Mumbai, India, Bank of India --
http://www.bankofindia.com-- 2628 branches in India spread over
all states/ union territories, including 93 specialized
branches.  The bank provides a range of financial products and
services, including numerous credit schemes, deposit schemes,
cash management services, credit/debit cards, deposit vaults and
corporate bonds.  It also extends finance to small and medium
enterprises and small-scale industries. It provides a variety of
loans, such as mortgage loans, educational loans, auto finance
loans, holiday loans, personal loans and home loans.  The bank
offers Internet banking services for both the retail and
corporate clients.

The bank operates in the Cayman Islands, China, the Channel
Islands, France, Hong Kong, Indonesia, Japan, Kenya, Singapore,
the United Kingdom, the United States, and Vietnam.

                        *     *     *

Standard & Poor's Ratings Services assigned on March 26, 2007,
its 'BB' issue rating to the bank's Hybrid Tier I notes to be
issued by India's Bank of India (BOI; BBB-/Stable/A-3), acting
through its Jersey branch.  These notes are being issued under
the bank's US$1 billion medium-term notes program.


BEAR STEARNS: Investors Want To Oust Firm from HGEL Funds
---------------------------------------------------------
The beneficial holders of more than 25% of the equity of Bear
Stearns High-Grade Structured Credit Strategies Enhanced Fund,
L.P. and Bear Stearns High-Grade Structured Credit Strategies
Enhanced Leverage (Overseas) Ltd., want FTI Capital Advisors,
LLC, to replace Bear Stearns Cos. as general partner or director
of HGEL Domestic and HGEL Overseas.

In a notice filed with the U.S. Bankruptcy Court for the
Southern District of New York, John C. Crittenden, III, a
managing director at FTI Capital Advisors, said his firm is
willing to serve as general partner and director of the HGEL
funds.  FTI Capital Advisors is the investment-banking arm of
FTI Consulting, Inc.

Pending FTI's election, the firm has asked for copies of all
notices and other papers filed in the Chapter 15 cases of Bear
Stearns High-Grade Structured Credit Strategies Master Fund,
Ltd., and Bear Stearns High-Grade Structured Credit Strategies
Enhanced Leverage Master Fund, Ltd.

The HGEL funds' equity holders will convene a meeting in the
"immediate future" to consider FTI's election, Mr. Crittenden
said.

The investors want FTI to help determine what went wrong at the
funds and who may be responsible, The Wall Street Journal
reports, citing a person familiar with the court filing.  The
investors are also concerned that Bear Stearns has been slow to
respond to the replacement initiative, that source said.

The investors are represented by Reed Smith LLP, Journal writer
Randall Smith says, citing a person familiar with the filing.
The notice didn't identify any of the equity holders who want
Bear Stearns replaced.

A spokesman for Bear referred questions to KPMG, the Bear
Stearns Funds' provisional liquidators, but KPMG officials
knowledgeable on the matter couldn't be reached, Mr. Smith
relates.

Headquartered in Grand Cayman, Cayman Isands, Bear Stearns High-
Grade Structured Credits and Strategies Enhanced Leverage Master
Fund, Ltd. are open-ended investment compie, which sought high
income and capital appreciation relative to the London Interbank
Offered Rate, and was designed for long-term investors.  On
July 30, 2007, the Funds filed for wounding up petitions under
the Companies Law (2007 Revision) of the Cayman Islands.  Simon
Lovell Clayton Whicker and Kristen Beighton, at KPMG, were
appointed joint provisional liquidators.  On July 31, 2007, the
joint liquidators filed for Chapter 15 petition in the U.S.
Bankruptcy Court for the Southern District of New York.  The
case is under Honorable Burton R. Lifland.

Fred S. Hodara, Esq., Lisa G. Beckerman, Esq., and David F.
Staber, Esq., at Akin Gump Strauss Hauer & Feld LLP represent
the liquidators in the United States.  The Funds assets and
debts are estimated to be more than US$100,000,000 each.


CHINA INVESTMENT: Sets Final Shareholders Meeting for Sept. 7
-------------------------------------------------------------
The China Investment Company will hold its final shareholders
meeting on Sept. 7, 2007, at 10:30 a.m., at:

         450 Park Avenue, Suite 3201
         New York, New York

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

         Jack N Mayer
         The China Investment Company Limited
         Attention: Jerome M Balsam
         3rd Floor, 36C Bermuda House
         Dr Roy's Drive, George Town
         Grand Cayman, Cayman Islands
         Telephone: 1 212 838 7200


CYGNUS ASSET: Will Hold Final Shareholders Meeting Today
-------------------------------------------------------
Cygnus Asset Management Ltd. will hold its final shareholders
meeting on Sept. 6, 2007, at 10:00 a.m., at:

          P.O. Box 1234
          Queensgate House,
          South Church Street, Grand Cayman KY1-1108
          Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,
      and

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

         Ogier
         Attention: Angus Davison
         P.O. Box 1234
         Queensgate House,
         South Church Street, Grand Cayman KY1-1108
         Cayman Islands
         Tel: (345) 949 9876
         Fax: (345) 949 1986


G-MAX 2002: Proofs of Claim Filing Ends Today
---------------------------------------------
G-MAX 2002 FL-A Ltd.'s creditors are given until Sept. 6, 2007,
to prove their claims to Helen Allen and Joshua Grant, the
ompany's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

G-MAX 2002's shareholders agreed on July 25, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       Helen Allen
       Joshua Grant
       Maples Finance Limited
       P.O. Box 1093
       George Town, Grand Cayman
       Cayman Islands


GRIFFIN (CAYMAN): Proofs of Claim Filing Deadline Is Today
----------------------------------------------------------
Griffin (Cayman Islands) LLC's creditors are given until
Sept. 6, 2007, to prove their claims to Joshua Grant, Jan
Neveril, James Bearden, James Conaway and Jean Pougnier, the
company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Griffin's shareholders agreed on July 11, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

          Joshua Grant
          Jan Neveril
          Maples Finance Limited
          P.O. Box 1093
          George Town, Grand Cayman
          Cayman Islands


IVY PARTNERS: Will Hold Final Shareholders Meeting Tomorrow
-----------------------------------------------------------
Ivy Partners Fund CI I will hold its final shareholders meeting
on Sept. 7, 2007, at 11:00 a.m., at the office of the company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

         John Cullinane
         Derrie Boggess
         c/o Walkers SPV Limited
         Walker House, 87 Mary Street
         George Town, Grand Cayman KY1-9002
         Cayman Islands


JAPAN ADVISORY: Holds Final Shareholders Meeting Tomorrow
---------------------------------------------------------
Japan Advisory Ltd. will hold its final shareholders meeting on
Sept. 7, 2007, at 11:00 a.m., at the office of the company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

         Lawrence Edwards
         Attention: Jodi Jones
         P.O. Box 258
         Grand Cayman KY1-1104
         Cayman Islands
         Tel: (345) 914 8694
         Fax: (345) 945 4237


MERRILL LYNCH (EURO): Final Shareholders Meeting Is Today
---------------------------------------------------------
Merrill Lynch European Equity Hedge Fund (Euro) Ltd. will hold
its final shareholders meeting on Sept. 6, 2007, at:

          Boundary Hall, George Town
          Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,
      and

   2) hearing any explanation that may be given by the
      liquidator.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

         Jan Neveril
         Richard Gordon
         Maples Finance Limited
         P.O. Box 1093
         George Town, Grand Cayman
         Cayman Islands


MERRILL LYNCH (USD): Holds Final Shareholders Meeting Today
-----------------------------------------------------------
Merrill Lynch European Equity Hedge Fund (Usd) Ltd. will hold
its final shareholders meeting on Sept. 6, 2007, at:

          Boundary Hall, George Town
          Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,
      and

   2) hearing any explanation that may be given by the
      liquidator.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

         Jan Neveril
         Richard Gordon
         Maples Finance Limited
         P.O. Box 1093
         George Town, Grand Cayman
         Cayman Islands


NISHI-NIPPON: Final Shareholders Meeting Is Today
-------------------------------------------------
Nishi-Nippon Preferred Capital (Cayman) Ltd. will hold its final
shareholders meeting on Sept. 6, 2007, at:

          Boundary Hall, George Town
          Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,
      and

   2) hearing any explanation that may be given by the
      liquidator.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

         Jan Neveril
         Maples Finance Limited
         P.O. Box 1093
         George Town, Grand Cayman
         Cayman Islands


PURE IP: Will Hold Final Shareholders Meeting Tomorrow
------------------------------------------------------
Pure IP Holdings will hold its final shareholders meeting on
Sept. 7, 2007, at:

         First Floor, Alamander Way
         Grand Pavilion, West Bay Road
         Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

         David A.K. Walker
         Attention: Jodi Jones
         P.O. Box 258
         Grand Cayman KY1-1104
         Cayman Islands
         Tel: (345) 914 8694
         Fax: (345) 945 4237


SYSTEIA ALTERNATIVE: Final Shareholders Meeting Will be Tomorrow
----------------------------------------------------------------
Systeia Alternative Risk Trading Fund will hold its final
shareholders meeting on Sept. 7, 2007, at 11:30 a.m., at the
office of the company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

         David A.K. Walker
         Attention: Jodi Jones
         P.O. Box 258
         Grand Cayman KY1-1104
         Cayman Islands
         Tel: (345) 914 8694
         Fax: (345) 945 4237




=========
C H I L E
=========


BELL MICROPRODUCTS: Names Ed Burke VP of North American HP Unit
---------------------------------------------------------------
Bell Microproducts Inc. has appointed Ed Burke as vice president
of the company's North American HP business unit.  In his new
role, Mr. Burke is responsible for managing HP product and
business development throughout the company's distribution
business.

"Given our goal to grow the HP business division in North
America, Ed is a key addition to our management team," said Gary
Gammon, senior vice president of marketing, enterprise products
for Bell Microproducts.  "In addition to impressive experience
in the storage and server markets, Ed has held director-level
positions at HP in the past.  His depth of knowledge in HP
products along with years of industry experience in developing
and implementing programs to increase HP's reach in the
marketplace will be a tremendous asset to our expansion
endeavors."

Mr. Burke has twenty years of experience in sales, technical,
and marketing management, including several years at HP where he
helped to strengthen the company's storage channel.  Mr. Burke
joins Bell Microproducts from Arrow ECS where he served as the
HP group director of marketing.  Prior to that, he spent more
than 14 years in various management positions at HP, Compaq and
Digital Equipment Corp.  While at HP, Burke served as director
of advanced technology as well as director of marketing for
enterprise storage and server programs.

"I am excited to be joining one of the industry's most
successful and well-respected distributors," said Mr. Burke.
"Given Bell Microproducts' business strategy and focus, the
company has demonstrated a commitment to driving incremental
business in HP enterprise storage and server sales.  Coming to
Bell Microproducts' HP division with a solid background working
with HP products gives me the ability to immediately add value
to the team.  I look forward to the challenges and opportunities
ahead as we strive to advance the company's leadership position
in distributing HP solutions."

                  About Bell Microproducts

Headquartered in San Jose, California, Bell Microproducts Inc.
(Nasdaq: BELM) -- http://www.bellmicro.com/-- is an
international, value-added distributor of high-tech products,
solutions and services, including storage systems, servers,
software, computer components and peripherals, as well as
maintenance and professional services.  Bell is a Fortune 1000
company that has operations in Argentina, Brazil, Chile and
Mexico.

                        *     *     *

For the quarter ended June 30, 2007, the company provided
additional information to NASDAQ to support its request for an
extension of time required to complete its required filings with
the SEC.  During the quarter the company also received waivers
from its lenders through Sept. 30, 2007, relating to the filing
of financial reports with the SEC and the provision of audited
financial reports to the lenders.


EASTMAN KODAK: Extends Five-Year Market Deal with Lexar Media
-------------------------------------------------------------
Eastman Kodak Company and Lexar Media Inc. have signed an
extended five-year agreement under which Lexar will develop and
market Kodak-branded flash memory products worldwide.  The
agreement with Lexar, which has performance-based exclusivity,
strengthens the existing relationship between the two companies
and allows for expanded distribution and a broader portfolio of
KODAK-branded flash memory product lines created by Lexar, a
world leader in advanced digital media technologies.  Financial
terms of the agreement were not disclosed.

"Kodak has worked closely with Lexar since 2004 to offer our
customers leading-edge solutions in flash memory," said John
Blake, General Manager, Digital Capture and Imaging Products and
Vice President, Eastman Kodak Company.  "We look forward to
continuing the positive relationship we've established with
Lexar, and to expanding our product line to complement the broad
range of products that the digital camera user experiences on a
daily basis."

The Lexar-Kodak relationship began three years ago with the
launch of a 64 MB Secure Digital card, a time when consumers
were continuing to convert en masse from the use of analog to
flash memory, or "digital film" products.  Since then, the
technology has continued to develop rapidly, and Lexar now
offers flash products that provide up to 4GB of memory in KODAK
Secure Digital High-Capacity cards.  With its acquisition by
Micron Technology, Inc. in 2006, Lexar now also brings access to
the technology and engineering expertise of one of the largest
NAND producers worldwide.

Today, the consumer market for digital photography has evolved
to encompass advanced flash products that not only allow the
capturing of still and video images with cameras and cell
phones, but also serve a growing network of other products and
services, including home printers, on-line services and in-store
kiosks for printing and sharing photos, as well as new devices
such as digital frames that let people display and share their
digital photos and videos.  Kodak currently offers a broad range
of products and services to address the needs of these
categories and other emerging consumer trends.  Under the new
Lexar-Kodak agreement, Lexar will be able to offer a full and
expanding range of KODAK-branded flash memory storage products
in various form factors -- including SD and microSD memory cards
and USB drives to complement many different products and provide
the best solutions for capturing, transferring, and sharing
digital and video images.

Vice President of Lexar Media Mark Adams added, "The combination
of Kodak's brand strength and product breadth with Lexar's
technology and manufacturing expertise is truly a 'win-win'
proposition for customers.  Consumers in search of affordable,
high-quality memory products should look no further than the
KODAK brand, and we intend to aggressively promote that fact."

KODAK-branded cards from Lexar are currently available in
leading retail and e-commerce outlets in the United States and
throughout the world, including Canada, Latin America, Europe
and Australia as well as at http://www.lexar.com/kodak. The
range of KODAK-branded memory cards includes a high performance
line of Secure Digital High Capacity and SD cards, as well as a
standard line of SD and xD-Picture Cards (availability varies by
region).

                      About Lexar Media

Lexar Media Inc. -- http://www.lexar.com/-- is a leading
marketer and manufacturer of NAND flash and DRAM memory products
under the Lexar and Crucial brand names. Lexar also sells flash
memory products under the Kodak brand.  Lexar Media is a
subsidiary of Micron Technology, Inc., and Lexar Media is a
division of Micron Europe Limited, a division of Micron
Semiconductor Asia Pte. Ltd., and a division of Micron Japan,
Ltd.

                    About Micron Technology

Micron Technology Inc. -- http://www.micron.com/-- is provides
advanced semiconductor solutions.   Through its worldwide
operations, Micron manufactures and markets DRAMs, NAND flash
memory, CMOS image sensors, other semiconductor components, and
memory modules for use in leading-edge computing, consumer,
networking and mobile products.  Micron's common stock is traded
on the New York Stock Exchange (NYSE) under the MU symbol.

                      About Eastman Kodak

Headquartered in Rochester, New York, Eastman Kodak Co. (NYSE:
EK)-- http://www.kodak.com/-- develops, manufactures, and
markets digital and traditional imaging products, services, and
solutions to consumers, businesses, the graphic communications
market, the entertainment industry, professionals, healthcare
providers, and other customers.

The company has operations in Argentina, Chile, Denmark, Greece,
Jordan, Yemen, Australia, China among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 18, 2007, Fitch Ratings has upgraded Eastman Kodak Company's
senior unsecured debt to 'B/RR4' from 'B-/RR5' due to improved
recovery prospects following the company's redemption on
May 3, 2007, of a US$1.15 billion secured term loan funded with
a portion of the proceeds from the sale of its Health Group to
Onex Healthcare Holdings, Inc., for US$2.35 billion on
April 30, 2007.

In addition, Fitch has affirmed these Kodak ratings:

     -- Issuer Default Rating 'B';
     -- Secured credit facility 'BB/RR1'.




===============
C O L O M B I A
===============


* COLOMBIA: Invites Pacific Stratus to Bid for Llanos Dev't
-----------------------------------------------------------
Pacific Stratus Energy Ltd. (TSX: PSE) said that the Agencia
Nacional de Hidrocarburos of Colombia (ANH) has invited it to
participate in its heavy oil development strategy for the Llanos
Orientales Basin and has also pre-qualified the Company for the
upcoming Ronda Caribe in the offshore Caribbean Colombian coast.

The Llanos Orientales Basin is one of the prospective
hydrocarbon sectors of the Andean region with source rocks and
reservoirs similar to those of the analogue Orinoco Heavy Oil
Belt of eastern Venezuela.  Oil companies invited to participate
in the heavy oil development strategy will work together with
the ANH to explore and develop the potential heavy oil resources
in the region.  The companies invited to participate will be
required todemonstrate their technical capabilities for heavy
oil development and operation.

The Ronda Caribe comprises 13 blocks located on the offshore
coast of the Caribbean Sea within the geological basins of
Uraba, Sinz and Guajira.  These areas offer the potential for
gas and light oil discoveries.

Commenting on this news, President and Chief Executive Officer
Jose Francisco Arata said, "We are looking forward to
participating in these bidding processes because the blocks are
located in areas that are highly prospective.  Our technical
team has extensive experience in Basin Analysis in the sub-
Andean region and we are well positioned to support the ANH with
its new development strategy both in the Llanos Orientales Basin
and in the offshore Caribbean coast."

Pacific Stratus Energy -- http://www.pacificstratus.com/-- is a
Canadian-based oil and gas company that initiated operations in
2004. The company is focused on identifying attractive
opportunities primarily within the upstream Sub Andean basins.
Pacific Stratus has a current net production of 1,900 barrels of
oil per day, with working interests in the Caguan, Dindal, Rio
Seco, Puli B, La Creciente, Moriche, Guama and Arauca blocks in
Colombia and blocks 135, 137 and 138 in Peru.  The company has
offices in Toronto, Caracas and Bogota.

As reported in the Troubled Company Reporter-Latin America on
June 15, 2007, Standard & Poor's Ratings Services assigned its
'BB+' long-term senior unsecured rating to the Republic of
Colombia's proposed 2027 Global Titulos de Tesoreria bond, a
bond denominated in Colombian pesos but payable in US dollars.




===================
C O S T A   R I C A
===================


* COSTA RICA: Cabei Choosing Equipment Vendor for State Firm
------------------------------------------------------------
Costa Rican state-run telecoms monopoly Instituto Costarricense
de Electricidad's assistant telecoms manager Claudio Bermudez
told news daily La Nacion that the Central American Bank for
Economic Integration aka Cabei will select the equipment vendor
for the deployment of a third-generation network.

Instituto Costarricense will acquire 1.5 million lines of a
Wideband Code Division Multiple Access-based technology, La
Nacion notes, citing Mr. Bermudez.  The firm would "roll out"
the service next year.

The new lines would cost US$200 million.  Cabei will purchase
the equipment for the network.  It will then rent the network to
Instituto Costarricense, granting the company the option to buy
it from the development bank, Business News Americas relates.

                        *     *     *

As reported on Aug. 21, 2006, Fitch Ratings upgraded Costa
Rica's country ceiling to BB+ from BB.




===================================
D O M I N I C A N   R E P U B L I C
===================================


BANCO INTERCONTINENTAL: Blames Hipolito Mejia for Inciting Suits
----------------------------------------------------------------
Juarez Castillo, former Banco Intercontinental head Ramon Baez
Figueroa's legal representative, has alleged that former
Dominican Republic president Hipolito Mejia has provoked a
series of actions against the bank, Dominican Today reports.

According to Dominican Today, Mr. Castillo quoted Mr. Mejia as
saying, "I'll close your bank and lock you up."  Mr. Castillo
claimed that this statement caused the troubles Banco
Intercontinental is now facing.

Dominican Today notes that Mr. Castillo's defense of Mr.
Figueroa, who is facing fraud charges of DOP55 billion, depended
on video footage and PowerPoint presentations.

Mr. Castillo told Dominican Today that he would respond to each
point that the prosecutors made.

Located in Dominican Republic, Banco Intercontinental aka
Baninter collapsed in 2003 as a result of a massive fraud that
drained it of about US$657 million in funds.  As a consequence,
all of its branches were closed.  The bank's current and savings
accounts holders were transferred to the bank's new owner --
Scotiabank.  The bankruptcy of Baninter was considered the
largest in world history, in relation to the Dominican
Republic's Gross Domestic Product.  It cost Dominican taxpayers
DOP55 billion and resulted to the country's worst economic
crisis.


GUESS? INC: Earns US$37.5 Million in Second Quarter Ended Aug. 4
----------------------------------------------------------------
Guess?, Inc. has reported record net earnings of US$37.5 million
for the second quarter of its 2008 fiscal, which ended
Aug. 4, 2007.  An increase of 81.5% compared to net earnings of
US$20.6 million for the recast quarter ended July 29, 2006.
Diluted earnings per share increased 81.8% to US$0.40 per share
in the current quarter versus US$0.22 per share in the prior
year quarter.

Paul Marciano, Chief Executive Officer, commented, "We are very
pleased with our record financial results this quarter, which
reflect the continued strength of the Guess brand, the success
of our ongoing investments in long-term initiatives, such as
Europe, Asia, and our accessories lines, and the consistency
with which we are growing our business in North America and
abroad.  We increased our revenues by 48%, as all of our
businesses delivered double digit revenue increases."

Mr. Marciano continued, "Strong performance across all of our
product lines in our retail business in North America led to a
16.2% same store sales increase for the quarter.  This was our
18th consecutive quarter of same store sales growth.  Our
European segment was especially strong, and contributed nearly
half of the Company's revenue growth with a 121% increase in
revenues. Strength in our Asian business, driven mainly by our
South Korean operation, contributed to a 75% revenue increase in
the wholesale segment.  Our licensing business also continued to
perform well above our expectations -- posting revenue growth of
51% in the quarter."

Mr. Marciano concluded, "On a consolidated basis, we increased
net earnings by 82%, with each of our business segments
contributing to this growth.  Our operating margin also improved
to 15.3% from 12.8% last year, even with the investments we made
in our long-term initiatives during the quarter.  This marks
another quarter of record earnings for our company, and the 16th
consecutive quarter of earnings growth."

Total net revenue for the second quarter of fiscal 2008
increased 48.2% to US$388.3 million from US$261.9 million in the
prior-year period.  The company's retail stores in the U.S. and
Canada generated revenue of US$201.6 million in the second
quarter of fiscal 2008, a 21.4% increase from US$166.1 million
in the same period a year ago.  Comparable store sales increased
16.2% for the quarter ended Aug. 4, 2007, compared to the
thirteen weeks ended Aug. 5, 2006.  The company operated 347
retail stores in the U.S. and Canada at the end of the second
quarter of fiscal 2008 versus 322 stores a year earlier.

Net revenue from the Company's wholesale segment, which includes
the company's Asian operations, increased 74.5% to US$57.3
million in the second quarter of fiscal 2008, from US$32.8
million in the prior-year period.

Net revenue from the Company's European segment increased 121.2%
to US$107.9 million in the second quarter of fiscal 2008,
compared to US$48.8 million in the prior-year period.

Licensing segment net revenue increased 51.1% to US$21.5 million
in the second quarter of fiscal 2008, from US$14.3 million in
the prior-year period.

Operating earnings for the second quarter of fiscal 2008
increased 76.4% to US$59.4 million from US$33.6 million in the
prior-year period.  Operating margin in the second quarter
improved 250 basis points to 15.3%, compared to the prior year's
quarter.  This margin expansion was driven by improved leverage
over occupancy costs and the positive impact of higher margin
businesses in the period.

                           Outlook

The company's expectations for the fiscal year ending
Feb. 2, 2008, are:

  -- Consolidated net revenues are expected to range from
     US$1.56 billion to US$1.60 billion.

  -- Operating margin is expected to be about 17.5%.

  -- Diluted earnings per share are expected to be in the range
     of US$1.79 to US$1.84.

The fiscal year ending Feb. 2, 2008, will include 52 weeks and a
four-week January period, compared to the recast year ended
Feb. 3, 2007, which included 53 weeks and a five-week January
period.

                          Dividend

The company also announced today that its Board of Directors has
increased its quarterly cash dividend by 33.3% to US$0.08 per
share on the company's common stock.  The dividend will be
payable on Oct. 5, 2007 to shareholders of record at the close
of business on Sept. 19, 2007.

The Company will hold a conference call at 4:30 pm (ET) on
Sept. 4, 2007, to discuss the news announced in this press
release.  A live webcast of the conference call will be
accessible at http://www.guessinc.comvia the "Investor's Info"
link.  The webcast will be archived on the website for 30 days.

Guess? Inc. (NYSE: GES) -- http://www.guessinc.com/-- designs,
markets, distributes and licenses a lifestyle collection of
contemporary apparel, accessories and related consumer products.
At May 5, 2007, the company operated 336 retail stores in the
United States and Canada.  The company also distributes its
products through better department and specialty stores around
the world, including the Philippines, Hungary and the Dominican
Republic.

                        *     *     *

Guess? Inc. still carries Standard & Poor's "BB" long-term
foreign and local issuer credit ratings, which were assigned in
December 2006.




=====================
E L   S A L V A D O R
=====================


* EL SALVADOR: Nera To Conduct Telecoms Competition Study
---------------------------------------------------------
El Salvador's antitrust agency, Superintendencia de Competencia,
has appointed international consultancy firm Nera Economic
Consulting to analyze the level of competition in the nation's
telecoms sector, Business News Americas reports.

BNamericas relates that the study will focus on the local,
national, and international long distance, fixed line and mobile
telephony, showing the competitive situation in each area.

According to BNamericas, Nera Economic will also analyze these
areas:

          -- relevant legislation and regulation,
          -- earning margins,
          -- commercial and operation strategies and costs, and
          -- licenses and concessions.

The study will also include the necessary regulatory, financial
or technical conditions for the country to implement number
portability, BNamericas states.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 27, 2007, Standard & Poor's Ratings Services affirmed its
'BB+' long- and 'B' short-term sovereign credit ratings on the
Republic of El Salvador.  S&P said the outlook remains stable.




=================
G U A T E M A L A
=================


AFFILIATED COMPUTER: Renews Parking Services Contract w/ Boston
---------------------------------------------------------------
Affiliated Computer Services Inc. has been awarded a contract
renewal by the City of Boston to provide full-service parking
ticket collections, booting and towing, and fleet management
services.  Affiliated Computer has served the city since 1981.
The contract has a length of up to three years and a total value
of US$19 million, including two one-year renewal options, and
was reflected in Affiliated Computer' fourth quarter fiscal year
2007 results.

"Affiliated Computer has worked closely with Boston over the
years to help keep pace with the changing traffic demands of
such a vital city," said Michael Huerta, Affiliated Computer
managing director, Transportation Solutions.  "As a national
provider of parking services to major cities, Affiliated
Computer is uniquely equipped to provide the services Boston
needs in the future."

Services provided include parking violation processing, notice
generation and mailing, adjudication and appeals scheduling,
document imaging and correspondence management, training, and
help desk support.

In addition to Boston, Affiliated Computer has parking contracts
with Cleveland, Dallas, Denver, Detroit, Los Angeles, New
Orleans, Philadelphia, St. Louis, San Francisco, and Washington,
D.C.

                  About Affiliated Computer

Affiliated Computer Services Inc. (NYSE: Affiliated Computer)
-- http://www.AffiliatedComputer-inc.com/ -- provides business
process outsourcing and information technology solutions to
world-class commercial and government clients.  The company has
more than 58,000 employees supporting client operations in
nearly 100 countries.  The company has global operations in
Brazil, China, Dominican Republic, India, Guatemala, Ireland,
Philippines, Poland, and Singapore.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
April 3, 2007, Moody's Investors Service confirmed Affiliated
Computer Services' Ba2 corporate family rating and assigned a
stable rating outlook, following the company's conclusion of an
internal investigation into its options granting practices and
restoration to current U.S. Securities and Exchange Commission
financial reporting.

As reported in the Troubled Company Reporter on March 29, 2007,
Fitch Ratings placed Affiliated Computer Services Inc. on
Rating Watch Negative after the proposed offer from Darwin
Deason, founder and current chairman of Affiliated Computer, and
Cerberus Capital Management L.P. to acquire the company in a
leveraged buyout transaction valued at US$8.2 billion, including
existing debt.  Ratings affected were (i) Issuer Default Rating
'BB'; (ii) Senior secured revolving credit facility at 'BB';
(iii) Senior secured term loan at 'BB'; and (iv) Senior notes at
'BB-'.


TRUESTAR PETROLEUM: Optima Services Files Chapter 11 in Texas
-------------------------------------------------------------
Optima Services International LTD., one of the creditors of
Truestar Petroleum Corporation and Truestar Barnett LLC, filed
involuntary Chapter 11 bankruptcy petitions against TPC and
Truestar Barnett in the United States Bankruptcy Court for the
Northern District of Texas.

The majority of the assets of Truestar Barnett are located
within the geographic area served by the Northern District of
Texas.

Press statement made by TPC stated that Macquarie Bank was in
the process of foreclosing on specific assets of Truestar
Barnett and such foreclosure was scheduled to take place on
Sept. 4, 2007.  Optima understands that the value of Truestar
Barnett's oil and gas assets in the Barnett Shale is greater
than the obligations owed to Macquarie Bank.

Optima took this action to protect its interests well as the
interests of all creditors who do not have valid liens against
the Barnett Shale oil and gas assets.

After the involuntary bankruptcy filings were effected, Optima
was informed that Truestar Barnett intended to file a voluntary
Chapter 11 case in the United States Bankruptcy Court sitting in
Denver, Colorado.

"Optima believes that the Northern District of Texas is the
appropriate venue for any bankruptcy involving Truestar Barnett
and/or TPC as the majority of assets are located in the Northern
District of Texas and the majority of creditors will be better
served if the bankruptcy is administered in the Northern
District of Texas," Robert Kubbernus, president of Optima
Services International LTD, stated.

              About TrueStar Petroleum Corporation

Headquartered in Vancouver, TrueStar Petroleum Corporation (CVE:
TPC) -- http://www.truestar-petroleum.com/-- is engaged in the
exploration and development of oil and gas interests primarily
in the United States of America.  The company's principal
business activities include the identification, acquisition,
exploration, development, and production of natural gas and oil
properties.  The company's subsidiaries include Plumas Gold
Mines Ltd., Plumas Gold Mines U.S.A. Inc., Nevada Mine
Development Corp., TrueStar Americas Inc., TrueStar
International Limited, TrueStar Guatemala Limited and TrueStar
Argentina Limited.

                        *     *     *

At Dec. 31, 2006, the company's balance sheet showed total
assets of US$32.46 million, total liabilities of US$64.91
million, resulting to a shareholders' deficit of US$32.45
million.

In April 2007, the company received another waiver until
June 2007, from Macquarie Bank Ltd. in respect to various
breaches of loan covenants.


TRUESTAR PETROLEUM: Involuntary Chapter 11 Case Summary
-------------------------------------------------------
Alleged Debtor: TrueStar Petroleum Corporation
                aka Trinity Plumas Capital Corporation
                410 17th Street, Suite 310
                Denver, CO 80202

Case Number: 07-34201

Alleged debtor-affiliate:

      Entity                      Case No.
      ------                      --------
      TrueStar Barnett LLC        07-34192

Type of Business: The Debtors explore, develop, and produce
                  oil and gas properties.  It has primary
                  assets located in the United States and
                  Guatemala.
                  See http://www.truestar-petroleum.com/

Involuntary Petition Date: August 31, 2007

Court: Northern District of Texas (Dallas)

Judge: Stacey G. Jernigan

Petitioner's Counsel: Walter J. Cicack, Esq.
                      Seyfarth Shaw LLP
                      700 Louisiana, Suite 3700
                      Houston, TX 77002
                      Tel: (713) 225-2300
                      Fax: (713) 225-2340

   Petitioners                       Claim Amount
   -----------                       ------------
Optima Services                           Unknown
International Ltd.
c/o Walter Cicack
700 Louisiana, Suite 3700
Houston, TX 77002




=============
J A M A I C A
=============


DIGICEL LTD: Launches Ad Hut To Promote Products & Services
-----------------------------------------------------------
Digicel has introduced The Ad Hut, an innovative advertising
vehicle that provides advertisers a new way of promoting their
products and services to more effectively reach consumers via
their mobile phones and BlackBerries.

Developed in conjunction with DigiPoint, Digicel's Ad Hut
enables advertisers to target specific customer segments over
the Digicel Live WAP portal while maintaining complete control
over the management of their ads.  For example, advertisers can
schedule ads based on customer preference and can easily modify,
schedule and terminate ads at any time.

According to Patrick Mignott, DigiPoint's managing director, the
Ad Hut product was designed with the goal of revolutionizing
advertising through mobile Internet.  "Ad Hut enables
advertisers and publishers both small and large to use mobile
advertising as a viable business tool. It is a simple self-
serving web interface," Mr. Mignott said.

The Digicel Ad Hut is self-administered and users can go online
to upload their ads and make their own payments.  They can also
edit their ads and access statistics, which are displayed in all
Digicel territories.

"As the only mobile operator in the region to offer this
service, we are very pleased to introduce Ad Hut as part of our
ever-expanding portfolio of product innovations," said Ben
Atherton, Digicel's marketing director.  "Because advertisers
are constantly seeking new ways to reach consumers, we are
confident that Ad Hut will create compelling, targeted
advertising opportunities to help them better target their
customer base and maintain a competitive advantage."

                       About Digipoint

The content provider DigiPoint is a global end-to-end provider
of Content and portal services on mobile networks.  DigiPoint
has developed a range of content services for mobile phones like
SMS Chat, Information on demand Live Mobile Portal services, WAP
as well as J2ME based content services.  DigiPoint's head office
is located in Kingston, Jamaica.

                        About Digicel

Digicel Group Limited -- http://www.digicelgroup.com/-- is a
wireless services provider in the Caribbean region.  The company
is a newly created Bermuda incorporated company formed by Mr.
Denis O'Brien, who previously owned 78% of the shares of Digicel
Limited on a fully diluted basis.  The company started
operations in Jamaica in April 2001 and now offers GSM mobile
services in 22 markets primarily in the Caribbean including
Jamaica, St. Lucia, St. Vincent, Aruba, Grenada, Barbados,
Cayman, Curacao, Martinique, Guadeloupe, Trinidad and Tobago and
Haiti among others.

As reported in the Troubled Company Reporter-Latin America on
Feb. 20, 2007, Fitch Ratings took these rating actions for
Digicel Group Ltd., Digicel Ltd. and Digicel International
Finance Ltd.:

Digicel Group Ltd.

   -- US$1.4 billion senior subordinated notes due 2015
      assigned 'CCC+/RR5'

Digicel Ltd.

   -- Foreign currency Issuer Default Rating downgraded
      to 'B-' from 'B'; and

   -- US$450 million senior notes due 2012 downgraded
      to 'B-/RR4' from'B/RR4'.

Digicel International Finance Ltd.

   --US$850 million senior secured credit facility
     assigned 'B/RR3'.

Fitch said the outlook on all ratings is stable.




===========
M E X I C O
===========


ACCELLENT INC: Names Jeremy Friedman as Chief Financial Officer
---------------------------------------------------------------
Accellent Inc. has hired Jeremy A. Friedman as its Chief
Financial Officer, Executive Vice President and Treasurer
reporting to Kenneth Freeman, Executive Chairman, effective
Sept. 4, 2007.

Alan Bortnick, Vice President - Finance and Interim Chief
Financial Officer since June 15, 2007, will assume his previous
responsibilities as Vice President - Finance, reporting to Mr.
Friedman.

"Jeremy comes to Accellent with substantial accomplishments in
several challenging industries," said Mr. Freeman.  "He is a
results-oriented leader with a breadth of capabilities that will
serve him well as we continue the transformation of Accellent."

Mr. Friedman, 54, has more than thirty years of financial and
operations experience, most recently at Flextronics
International Ltd., where he held the positions of Senior Vice
President - Business Development, Senior Vice President of
Finance and Global Supply Chain - Components, Chief Operating
Officer - Flextronics Network Services, Vice President - Global
Internal Audit and Vice President - Business Systems and
Processes.

Prior to Flextronics, Mr. Friedman held leadership positions at
KPMG, ACME Well International Corporation, We're Entertainment,
Inc., Phillips Van-Heusen Corporation, and Windsor Shirt
Company.

A native of Pennsylvania, Mr. Friedman received a bachelor's
degree in religion from Haverford College in 1975, and an MBA
from Harvard Business School in 1977.  He will relocate to the
Wilmington, Massachusetts area.

Accellent Inc., headquartered in Wilmington, Massachusetts,
-- http://www.accellent.com/--provides fully integrated
outsourced manufacturing and engineering services to the medical
device industry in the cardiology, endoscopy and orthopaedic
markets.  Accellent has broad capabilities in design &
engineering services, precision component fabrication, finished
device assembly and complete supply chain management.  These
capabilities enhance customers' speed to market and return on
investment by allowing companies to refocus internal resources
more efficiently.  The company generated revenues of US$487
million for the twelve months ended Sept. 30, 2006.  The company
has offices in Mexico.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 3, 2007, Standard & Poor's Ratings Services lowered its
corporate credit rating on Accellent Inc. to 'B' from 'B+'; the
outlook is stable.  This action reflects expectations of subpar
performance in the company's cardiovascular and orthopedics
divisions for the remainder of the year, reflecting weak end
markets and delayed product introductions in cardiovascular and
orthopedics, respectively.


ARROW ELECTRONICS: Closes Centia & AKS Acqusition for US$32 Mil.
----------------------------------------------------------------
Arrow Electronics Inc. has completed its previously announced
acquisition of Centia Group Limited and AKS Group Nordic AB
(Centia/AKS) for a purchase price of approximately US$32
million, including the assumption of debt.

"We are excited by the opportunities that the acquisition of
Centia/AKS, Europe's leading specialty distributors of access
infrastructure, security and virtualization software solutions,
brings to our enterprise computing solutions business.  This
transaction further strengthens our strategic focus on the fast-
growing software market segment and diversifies our product
portfolio in the European region, just as Alternative
Technology, Inc. enhanced our capabilities in North America,"
said Kevin Gilroy, president, Arrow Enterprise Computing
Solutions.

Centia/AKS has over 120 employees throughout Denmark, Finland,
France, Germany, Great Britain, the Netherlands, Norway and
Sweden.  The joint linecard includes leading suppliers such as
Citrix, VMware, and RSA.  Centia/AKS support value-added
resellers in delivering solutions that optimize, accelerate,
monitor and secure an end user's IT environment.  Total sales
for 2007 are expected to exceed US$120 million.

                   About Arrow Electronics

Headquartered in Melville, New York, Arrow Electronics Inc.
-- http://www.arrow.com/-- provides products, services and
solutions to industrial and commercial users of electronic
components and computer products.   Arrow serves as a supply
channel partner for nearly 600 suppliers and more than 130,000
original equipment manufacturers, contract manufacturers and
commercial customers through a global network of over 270
locations in 53 countries and territories.

The company operates in France, Spain, Portugal, Denmark,
Estonia, Finland, Ireland, Latvia, Lithuania, Norway, Sweden,
Italy, Germany, Austria, Switzerland, Belgium, the Netherlands,
United Kingdom, Argentina, Brazil, Mexico, Australia, China,
Hong Kong, Korea, Philippines and Singapore.

                        *     *     *

As reported on March 30, 2007, Moody's affirmed Arrow
Electronics' senior preferred stock at Ba2 and senior
subordinated stock at Ba1.

Arrow Electronics carries Fitch's 'BB+' issuer default rating.
The company's senior unsecured notes and senior unsecured bank
credit facility also carry Fitch's 'BB+' rating.  Fitch said the
rating outlook is positive.


BENQ CORP: Targets NT$80 Bil. in Sales Next Year After Spin-Off
---------------------------------------------------------------
BenQ Corp. targets NT$75-80 billion in sales for next year,
followed by NT$100 billion in 2009, after completing its spin-
off from its parent company, Qisda Corp., CNN Money relates,
citing XFN News.

"We hope to attain annual sales growth of 25%-30% in the years
to come," BenQ President and CEO Conway Lee was quoted by the
news agency as saying, adding that "The sales targets for 2008
and 2009 have been set on assumptions that BenQ can attain
returns on equity of 15% and then 20%."

The spin-off of BenQ was completed on Sept. 1.  The company will
focus on branded operations, while Qisda will focus on original
design manufacturing (ODM) for clients, the report says.

With operations ahead of the spin-off also taken into account,
2007 sales are projected to top NT$60 billion, Mr. Lee added,
saying that the company is running at slightly above the break-
even level.

Moreover, Mr. Lee also said BenQ is serious about ushering in
strategic partners and other investors as well as listing on the
local bourse provided that there is strong and concrete
performance in 2008, the report relates.  This way, Qisda will
gradually reduce its shareholding in BenQ over the years, Mr.
Lee said.

As a result of the spin-off, BenQ is left without factories of
its own, thus it will focus on selling and marketing products
under its own brand name, CNN relates.

BenQ, however, will retain its own research and development team
to work on materials, industrial design, user interface and
convergence of different product segments, Mr. Lee said.

After the spin-off, BenQ's workforce will be reduced to over
2,000 people working in 24 countries, and the company hopes to
enjoy much lower operating expenses and capital expenditure than
in the past, CNN adds.

BenQ will also first concentrate on its home base in the greater
China region and the Asia Pacific before setting up in Europe
and the US.  Currently, 40% of BenQ's sales are in Europe with
25% in the greater China region, 25% in the Asia Pacific region
and the remaining 10% in the US, the report relates.

Headquartered in Taiwan, Republic of China, BenQ Corp., Inc. -
http://www.benq.com/-- is principally engaged in manufacturing
developing and selling of computer peripherals and
telecommunication products.  It is also a major provider of 3G
handset, camera phones, and other products.  The firm has
operations in Mexico.

BenQ Mobile GmbH & Co., the company's German-based wholly owned
subsidiary, filed for insolvency in Munich on Sept. 29, 2006,
after BenQ Corp.'s board decided to discontinue capital
injection into the mobile unit in order to stem unsustainable
losses.  The collapse follows a year after Siemens sold the
company to Taiwanese technology group BenQ.

BenQ Mobile has lost market share against giant competitors.  A
Munich Court opened insolvency proceedings against BenQ Mobile
GmbH & Co OHG on Jan. 1 after Mr. Prager failed to secure a
buyer for the company by the Dec. 31, 2006 deadline.

                        *     *     *

The Troubled Company Reporter-Asia Pacific reported on
Dec. 5, 2006, that Taiwan Ratings Corp., assigned its long-term
twBB+ and short-term twB corporate credit ratings to BenQ Corp.

The outlook on the long-term rating is negative.  At the same
time, Taiwan Ratings assigned its twBB+ issue rating to BenQ's
existing NT$7.05 billion unsecured corporate bonds due in 2008,
2009, and 2010.

The ratings reflect BenQ's continuing operating losses from its
handset operations and high leverage, and the competitive nature
and low profitability of the LCD monitor industry.


DANA CORP: Inks Settlement Agreement with Retiree Committee
-----------------------------------------------------------
Stahl Cowen Crowley LLC, of Chicago, Illinois, counsel to the
Chapter 11 Dana Retiree Committee, disclosed that Dana
Corporation, Inc. has entered into a settlement agreement with
the Dana Retiree committee over the retiree's rights to
benefits.  Dana had sought Bankruptcy Court approval to
terminate all of its retirees' rights to health benefits.

As a result of the settlement Stahl Cowen Crowley negotiated on
behalf of Dana's non-union retirees, Dana will

   (1) pay for retiree benefits for non-union retirees through
       July 1, 2007;

   (2) contribute US$78 million dollars to fund a trust be used
       for providing retiree benefits;

   (3) pay for the cost of setting up the trust; and

   (4) work with the Retiree Committee to explore offering life
       insurance conversions (with the cost being paid by any
       retiree seeking conversion) when and if the underlying
       policies allow for conversions.

The Retiree Committee will, through the trust, create new health
insurance plans for the retirees to move into, with the trust
funds to be used to pay for a portion of the premiums of such
plans through the remainder of the retirees' lives.

Stahl Cowen Crowley, led by Jon Cohen and Trent Cornell, was
selected to serve as counsel for the Non-Union Retiree Committee
of Dana and 40 of its subsidiaries in September 2006.  Mr. Cohen
and Mr. Cornell previously served as lead counsel to the retiree
committees in FV Steel, Inc. (Keystone) and Intermet, Inc. and
their debtor affiliates.  Stahl Cowen Crowley has extensive
experience representing Chapter 11 retiree committees, having
represented more Chapter 11 retiree committees than any other
firm in the country.

Stahl Cowen Crowley LLC is a Chicago-based law firm focused on
serving the needs of business enterprises in today's dynamic
marketplace.  The firm provides sophisticated, yet cost
effective legal counsel to organizations ranging from the
entrepreneurial to large, publicly traded corporations and
municipalities.  Practice areas include Bankruptcy &
Restructuring, Corporate, Mergers & Acquisitions, Litigation,
Local Government, Real Estate and Trusts & Estates.

                      About Dana Corp.

Toledo, Ohio-based Dana Corp. -- http://www.dana.com/-- (OTC
Bulletin Board: DCNAQ) designs and manufactures products for
every major vehicle producer in the world, and supplies
drivetrain, chassis, structural, and engine technologies to
those companies.  Dana employs 46,000 people in 28 countries.
Dana is focused on being an essential partner to automotive,
commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.

The company and its affiliates filed for chapter 11 protection
on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  As of
Sept. 30, 2005, the Debtors listed US$7,900,000,000 in total
assets and US$6,800,000,000 in total debts.

Dana continues to close plants in North America, moving business
to other countries such as Mexico.

Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day,
in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq.,
Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in
Cleveland, Ohio, represent the Debtors.  Henry S. Miller at
Miller Buckfire & Co., LLC, serves as the Debtors' financial
advisor and investment banker.  Ted Stenger from AlixPartners
serves as Dana's Chief Restructuring Officer.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel
LLP, represents the Official Committee of Unsecured Creditors.
Fried, Frank, Harris, Shriver & Jacobson, LLP serves as counsel
to the Official Committee of Equity Security Holders.  Stahl
Cowen Crowley, LLC serves as counsel to the Official Committee
of Non-Union Retirees.


DANA CORP: Wants Disclosure Statement Hearing Set for Oct. 23
-------------------------------------------------------------
Dana Corp. and its debtor-affiliates ask the U.S. Bankruptcy
Court for the Southern District of New York to schedule the
hearing on their disclosure statement explaining their Joint
Plan of Reorganization on Oct. 23, 2007.

The Debtors also ask the Court to schedule the objection
deadline for the Disclosure Statement on Oct. 12, 2007.

The Debtors will provide notice of the Disclosure Statement
Hearing to all known creditors, equity security holders, other
parties-in-interest, and their counsel.  The Disclosure
Statement Notice will identify the date, time and place of the
Hearing and the deadline and procedures for asserting objections
to the approval of the Disclosure Statement.

The Debtors will publish the Disclosure Statement Notice in the
national editions of The Wall Street Journal and USA Today, and
the daily edition of The Blade.

The Debtors propose that Disclosure Statement Objections must be
in writing and submitted to:

  * Dana Corporation
    4500 Dorr Street
    Toledo, Ohio 43615
    Attn.: Marc S. Levin, Esq.

  * Jones Day
    222 East 41st Street
    New York, New York 10017
    Attn: Corinne Ball, Esq., and Veerle Roovers, Esq.

  * Office of the U.S. Trustee
    33 Whitehall Street
    21st Floor
    New York, New York 10004
    Attn.: Andrew Velez-Rivera, Esq.,

  * Kramer Levin Naftalis & Frankel, LLP
    1177 Avenue of the Americas
    New York, New York 10036
    Attn.: Thomas Moers Mayer, Esq.

  * Stroock & Stroock & Lavan, LLP
    180 Maiden Lane
    New York, New York 10038
    Attn.: Kristopher M. Hansen, Esq.

  * Willkie Farr Gallagher, LLP
    787 Seventh Avenue
    New York, New York 10019
    Attn.: Matthew A. Feldman, Esq.

  * Meyer Souzzi English & Klein, PC
    1350 Broadway, Suite 501
    New York, New York 10018
    Attn.: Lowell Peterson, Esq.

  * Cohen Weiss and Simon, LLP
    330 West 42nd Street
    New York, New York 10036
    Attn.: Babette Ceccotti, Esq.

Toledo, Ohio-based Dana Corp. -- http://www.dana.com/-- designs
and manufactures products for every major vehicle producer in
the world, and supplies drivetrain, chassis, structural, and
engine technologies to those companies.  Dana employs 46,000
people in 28 countries.  Dana is focused on being an essential
partner to automotive, commercial, and off-highway vehicle
customers, which collectively produce more than 60 million
vehicles annually.

The company and its affiliates filed for chapter 11 protection
on March 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  As of
Sept. 30, 2005, the Debtors listed US$7,900,000,000 in total
assets and US$6,800,000,000 in total debts.

Dana continues to close plants in North America, moving business
to other countries such as Mexico.

Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day,
in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq.,
Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in
Cleveland, Ohio, represent the Debtors.  Henry S. Miller at
Miller Buckfire & Co., LLC, serves as the Debtors' financial
advisor and investment banker.  Ted Stenger from AlixPartners
serves as Dana's Chief Restructuring Officer.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel
LLP, represents the Official Committee of Unsecured Creditors.
Fried, Frank, Harris, Shriver & Jacobson, LLP serves as counsel
to the Official Committee of Equity Security Holders.  Stahl
Cowen Crowley, LLC serves as counsel to the Official Committee
of Non-Union Retirees.

The Debtors filed their Joint Plan of Reorganization on
Aug. 31, 2007.  (Dana Corporation Bankruptcy News, Issue No. 51;
Bankruptcy Creditors' Service Inc.;
http://bankrupt.com/newsstand/or 215/945-7000).


DURA AUTOMOTIVE: Sub. Noteholders Appeal Pacificor Backstop Pact
----------------------------------------------------------------
Beneficial holders and indenture trustees under subordinated
notes and debentures, which are entitled to zero recovery under
the proposed Chapter 11 plan of Dura Automotive Systems Inc.
and its 41 debtor-affiliates, took an appeal to the U.S.
District Court for the District of Delaware from the U.S.
Bankruptcy Court for the District of Delaware's order approving
Dura's backstop rights purchase agreement with Pacificor, LLC.

Under the Backstop Agreement, Pacificor will purchase shares of
Reorganized Dura common stock that are unsubscribed at the
expiration of a rights offering.  Dura intends to offer to
senior noteholders 39.4% to 42.6% of new common stock, in
exchange for a money investment of between US$140,000,000 to
US$160,000,000.  Dura expects to emerge from bankruptcy in the
fourth quarter of 2007.

Beneficial holders of approximately US$105,000,000 in face
amount of 9% senior subordinated notes due May 2009; U.S. Bank
Trust National Association, as indenture trustee for the holders
of three series of Dura Operating Corp.'s 9% Senior Subordinated
Notes due 2009; and HSBC Bank USA National Association,
successor indenture trustee under the 7 1/2% Convertible
Subordinated Debentures due March 31, 2028, however, raised
before the Bankruptcy Court a number of issues, including:

   (i) The proposed transactions constitute a sub rosa plan that
       eliminates more than US$600,000,000 in value, without
       allowing the noteholders and other affected
       constituencies any meaningful participation in the plan
       process;

  (ii) The Backstop Agreement appear to cede control of a
       significant portion of the plan process to Pacificor; and

(iii) Pacificor's fees, which include a US$2,000,000
       immediately payable upon the approval of the Agreement,
       and up to US$1,000,000 in reimbursable expenses, are
       excessive.

The Debtors previously submitted a term sheet containing the
terms of a Chapter 11 plan contemplated by the Debtors.  Under
the Backstop Agreement, Pacificor will have the right to
terminate the Agreement if the Debtors file, or subsequently
modify, a Chapter 11 plan containing terms not acceptable to it.
The terms subject to Pacificor's acceptance include:

   (a) Exit Facility;
   (b) Size and composition of the Board of Directors;
   (c) Exercise Price;
   (d) New Organizational Documents;
   (e) Subscription Agreement and related notices and forms;
   (f) Stockholders' Agreement;
   (g) Registration Rights Agreement; or
   (h) Effective Date.

Bankruptcy Court Judge Kevin J. Carey, nonetheless, overruled
the objections and approved the Backstop Deal, which paved the
way for the Debtors to file their plan of reorganization,
containing the terms provided for in the Plan Term Sheet, on
Aug. 22, 2007.

The Bankruptcy Court appeared to have ceded to the Debtors'
arguments that the Backstop Agreement is not a sub rosa plan --
it does not purport to, outside the plan confirmation process:
(a) bind creditors to vote for a plan; (b) determine
distributions; or (c) release parties' claims against the
Debtors.  The Debtors noted that the objectors are still
entitled to protections under Section 1129 of the Bankruptcy
Code as the Backstop Agreement cannot, by its very terms, be
consummated unless a plan of reorganization is confirmed and
consummated.

The Debtors also argued that given that Pacificor has committed
to fund as much as US$160,000,000 towards their successful
reorganization, it is entitled to "reasonable contractual
protections" and the negotiated fees, which are consistent with
fees charged in other Chapter 11 cases.

U.S. Bank, is represented by John R. Ashmead, Esq., at Seward &
Kissell LLP, in New York, and Donal J. Detweiler, Esq., at
Greenberg Traurig LLP, in Wilmington, Delaware.

The Subordinated Noteholders are represented by Tobey M. Daluz,
Esq., at Ballard Spahr Andrews & Ingersoll, LLP, in Wilmington,
Delaware.

HSBC is represented by David E. Retter, Esq., at Kelley Drye &
Warren LLP, in New York.

Dura is represented by Daniel J. De Franceschi, Esq., at
Richards, Layton & finger, P.A., in Wilmington, Delaware, and
Richard M. Cieri, Esq., at Kirkland & Ellis LLP, in Chicago,
Illinois.

Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies,
structural door modules and exterior trim systems for the global
automotive industry.  The company is also a supplier of similar
products to the recreation vehicle and specialty vehicle
industries.  DURA sells its automotive products to North
American, Japanese and European original equipment manufacturers
and other automotive suppliers.

The company has three locations in Asia -- China, Japan and
Korea.  It has locations in Europe and Latin America,
particularly in Mexico, Germany and the United Kingdom.

The Debtors filed for chapter 11 petition on Oct. 30, 2006
(Bankr. D. Del. Case No. 06-11202).  Richard M. Cieri, Esq.,
Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan
Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel
for the Debtors' bankruptcy proceedings.  Mark D. Collins, Esq.,
Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors' co-
counsel.  Baker & McKenzie acts as the Debtors' special counsel.
Togut, Segal & Segal LLP is the Debtors' conflicts counsel.
Miller Buckfire & Co., LLC is the Debtors' investment banker.
Glass & Associates Inc., gives financial advice to the Debtor.
Kurtzman Carson Consultants LLC handles the notice, claims and
balloting for the Debtors and Brunswick Group LLC acts as their
Corporate Communications Consultants for the Debtors.  As of
July 2, 2006, the Debtor had US$1,993,178,000 in total assets
and US$1,730,758,000 in total liabilities.


DURA AUTOMOTIVE: Tim Trenary to Serve as CEO Effective Sept. 13
---------------------------------------------------------------
DURA Automotive Systems Inc. disclosed that C. Timothy Trenary
will join the company as vice president and chief financial
officer, effective Sept. 16, 2007.  He succeeds David L.
Harbert, a Tatum LLP Partner, who has served as DURA's interim
chief financial officer during restructuring.  Mr. Harbert will
remain with DURA through September to ensure a smooth
transition.

"Tim's extensive financial and management experience with major
automotive suppliers make him a great fit for DURA Automotive,"
said Larry Denton, chairman and chief executive officer of DURA.
"We're excited to have Tim on board.  I'd also like to thank
David for his many contributions as interim chief financial
officer through our reorganization."

Mr. Trenary brings nearly 30 years of financial expertise,
including capital formation and transactions, in the automotive
and telecommunications industries.  Since 2005, Trenary has been
at Collins & Aikman Corporation, an automotive interiors
supplier, first as vice president and treasurer and then as
executive vice president and chief financial officer.  There, he
joined a new management team and provided operational focus to
the finance function and strategic vision to the company.
Between 2001 to 2005, Mr. Trenary served at Federal-Mogul
Corporation, a global auto parts supplier, in several positions,
most recently as director of financial services and processes.
Mr. Trenary previously was chief financial officer and chief
operating officer of James Cable Partners, L.P. He began his
career as an auditor for what is now Ernst & Young.

Mr. Trenary said, "I'm excited by the opportunity to help DURA
complete its reorganization plans and I look forward to working
with DURA's talented employees.  The company has a strong
reputation for offering high-quality, innovative automotive
products and outstanding service.  DURA also has a competitive
market position with a strengthened balance sheet and has
tremendous potential to grow and attract new customers around
the world."

Mr. Trenary is a certified public accountant.  He earned an MBA
with honors from the University of Detroit and a bachelor's
degree in accounting with honors from Michigan State University.

On Oct. 30, 2006, DURA Automotive Systems, Inc., and its
domestic and Canadian affiliates filed voluntary petitions for
protection under Chapter 11 of the Bankruptcy Code in the United
States Bankruptcy Court for the District of Delaware.  On
Aug. 22, 2007, the company filed its chapter 11 plan of
reorganization and the related disclosure statement.  The
company expects to exit chapter 11 during the fourth quarter of
2007.  DURA and its domestic and Canadian affiliates continue to
operate their businesses as Chapter 11 debtors-in-possession.

                    About DURA Automotive

Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies,
structural door modules and exterior trim systems for the global
automotive industry.  The company is also a supplier of similar
products to the recreation vehicle and specialty vehicle
industries.  DURA sells its automotive products to North
American, Japanese and European original equipment manufacturers
and other automotive suppliers.

The company has three locations in Asia -- China, Japan and
Korea.  It has locations in Europe and Latin America,
particularly in Mexico, Germany and the United Kingdom.

The Debtors filed for chapter 11 petition on Oct. 30, 2006
(Bankr. D. Del. Case No. 06-11202).  Richard M. Cieri, Esq.,
Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan
Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel
for the Debtors' bankruptcy proceedings.  Mark D. Collins, Esq.,
Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors' co-
counsel.  Baker & McKenzie acts as the Debtors' special counsel.
Togut, Segal & Segal LLP is the Debtors' conflicts counsel.
Miller Buckfire & Co., LLC is the Debtors' investment banker.
Glass & Associates Inc., gives financial advice to the Debtor.
Kurtzman Carson Consultants LLC handles the notice, claims and
balloting for the Debtors and Brunswick Group LLC acts as their
Corporate Communications Consultants for the Debtors.  As of
July 2, 2006, the Debtor had US$1,993,178,000 in total assets
and US$1,730,758,000 in total liabilities.


FEDERAL-MOGUL: Court Extends Lease Decision Deadline to Dec. 1
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware to extend
the period within which Federal-Mogul Corporation and its
debtor-affiliates may assume or reject non-residential real
property leases through and including the earlier of:

  (a) Dec. 1, 2007; or
  (b) the effective date of a plan of reorganization.

As reported in the Troubled Company Reporter on Aug. 15, 2007,
the Real Property Leases relate to numerous facilities integral
to the Debtors' ongoing business operations, notes James E.
O'Neill, Esq., at Pachulski, Stang, Ziehl, Young, Jones &
Weintraub LLP, in Wilmington, Delaware.  While the Debtors'
management has largely completed the process of evaluating each
of the Real Property Leases for their economic desirability and
compatibility with the Debtors' long-term strategic business
plan, and a number of economically improvident Real Property
Leases have been rejected by the Debtors with the Court's
approval, several Real Property Leases are continuing to be
evaluated, Mr. O'Neill tells Judge Fitzgerald.  He notes that
the process of evaluating Real Property Leases has taken place
as the Debtors seek to (i) consolidate their facilities to
eliminate redundancies and inefficiencies; and (ii) shift
certain manufacturing efforts to portions of the country and the
world more suitable to their businesses, consistent with their
overall business plan.

An extension, Mr. O'Neill asserted, should be granted to:

  (1) allow time for the Debtors' evaluation process to
      continue; and

  (2) afford the Debtors maximum flexibility in restructuring
      their business.

"Given the inherent fluidity in the operation of a large,
complex business enterprise such as the Debtors', circumstances
may arise during the pendency of there Chapter 11 cases that
will cause the Debtors to rethink the need to continue leasing a
particular facility or their decision to reject a given Real
Property Lease," Mr. O'Neill points out.  "In the absence of an
extension . . . the Debtors could be forced prematurely to
assume Real Property Leases that may later be burdensome, giving
rise to large potential administrative claims against the
Debtors' estates and hampering the Debtors' ability to
reorganize successfully.  Alternatively, the Debtors could be
forced prematurely to reject Real Property Leases that would
have been of benefit to the Debtors' estates, to the collective
detriment of all stakeholders."

The Debtors request does not prejudice the lessors under the
Real Property Leases because the Debtors will continue to
perform all of their obligations under the Leases in a timely
fashion, including payment of all postpetition rent due, Mr.
O'Neill assured the Court.

                     About Federal-Mogul

Headquartered in Southfield, Michigan, Federal-Mogul Corporation
-- http://www.federal-mogul.com/-- is an automotive parts
company with worldwide revenue of some US$6 billion.  Federal-
Mogul also has operations in Mexico and the Asia Pacific Region,
which includes, Malaysia, Australia, China, India, Japan, Korea,
and Thailand.

The Company filed for chapter 11 protection on Oct. 1, 2001
(Bankr. Del. Case No. 01-10582).  Lawrence J. Nyhan Esq., James
F. Conlan Esq., and Kevin T. Lantry Esq., at Sidley Austin Brown
& Wood, and Laura Davis Jones Esq., at Pachulski, Stang, Ziehl,
Young, Jones & Weintraub, P.C., represent the Debtors in their
restructuring efforts.  When the Debtors filed for protection
from their creditors, they listed $10.15 billion in assets and
US$8.86 billion in liabilities.  Federal-Mogul Corp.'s U.K.
affiliate, Turner & Newall, is based at Dudley Hill, Bradford.
Peter D. Wolfson, Esq., at Sonnenschein Nath & Rosenthal; and
Charlene D. Davis, Esq., Ashley B. Stitzer, Esq., and Eric M.
Sutty, Esq., at The Bayard Firm represent the Official Committee
of Unsecured Creditors.

On March 7, 2003, the Debtors filed their Joint Chapter 11 Plan.
They submitted a Disclosure Statement explaining that plan on
April 21, 2003.  They submitted several amendments and on
June 6, 2004, the Bankruptcy Court approved the Third Amended
Disclosure Statement for their Third Amended Plan.  On
July 28, 2004, the District Court approved the Disclosure
Statement.  The estimation hearing began on June 14, 2005.  The
Debtors submitted a Fourth Amended Plan and Disclosure Statement
on Nov. 21, 2006, and the Bankruptcy Court approved that
Disclosure Statement on Feb. 6, 2007.  The confirmation hearing
started on June 18, 2007 and is expected to end on Oct. 1, 2007.
(Federal-Mogul Bankruptcy News, Issue No. 146; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)


FLEXTRONICS INT'L: Inks Acquisition Deal with Avail Medical
-----------------------------------------------------------
Flextronics International Ltd. has entered into a definitive
agreement with Avail Medical Products Inc. to acquire Avail.

The addition of Avail's medical design, manufacturing and
logistics capabilities for disposable medical device products
and medical capabilities afforded by the pending Solectron
acquisition will broaden Flextronics Medical segment's
offerings, and establish Flextronics as supplier and partner for
the medical industry.

"When our core medical business is combined with the
capabilities of Avail and the services that we will add from the
pending Solectron acquisition, Flextronics Medical will increase
the range of services it offers customers to include design,
manufacturing and logistics of disposable medical devices, hand
held diagnostics and drug delivery devices and imaging, lab and
life sciences equipment," Dan Croteau, president of Flextronics
Medical, said.  "Not only will we have one of the broadest
ranges of capabilities in the medical industry, this strategic
combination of world-class resources demonstrates our commitment
to providing our medical customers with an unmatched level of
global capabilities."

"The combination of Avail and Flextronics Medical will allow us
to build upon our combined global manufacturing footprint and
supply chain organization to provide customers with the services
they require to sustain a competitive edge in the global
marketplace for complex medical products," J. Randall Keene,
president and chief executive officer of Avail, said.
"Together, we will also have the ability to accelerate product
development and simplify customer supply chains by building upon
Flextronics's advanced electronics capabilities and adding the
disposable medical device experience of Avail."

Avail is expected to generate approximately US$250 million of
sales in calendar 2007, from a product portfolio that consists
of disposable medical products that includes catheters, wound
management and drug delivery devices.

The acquisition is expected to close before the end of the
calendar year and it is expected that this acquisition will be
neutral to the diluted earnings per share guidance for all
periods provided by Flextronics.  Additional terms of the deal
were not disclosed.

               About Avail Medical Products Inc.

Headquartered in Fort Worth, Texas, Avail Medical Products Inc.
-- http://www.availmed.com/-- is a privately-held company in
disposable medical devices.

                About Flextronics International

Headquartered in Singapore, Flextronics International Ltd. --
http://www.flextronics.com/-- provides electronics
manufacturing services through a network of facilities in over
30 countries worldwide.  The company delivers complete design,
engineering, and manufacturing services to aerospace,
automotive, computing, consumer digital, industrial,
infrastructure, medical and mobile original equipment
manufacturers.

The company has operations in Brazil and Mexico.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 8, 2007, Fitch has placed Flextronics' ratings on Rating
Watch Negative:

    -- Issuer Default Rating at 'BB+';
    -- Senior Unsecured credit facility at 'BB+';
    -- Senior subordinated notes at 'BB';

Standard & Poor's Ratings Services placed its 'BB+' corporate
credit and 'BB-' subordinated debt ratings on Singapore-based
Flextronics International Ltd. on CreditWatch with negative
implications following the company's announcement that it
intends to acquire Solectron Corp. for cash and stock valued at
about US$3.6 billion.


GLOBAL POWER: Objects to More Than US$200 Million in Claims
-----------------------------------------------------------
Global Power Equipment Group Inc. last week filed with the U.S.
Bankruptcy Court for the District of Delaware 10 objections in
an effort to reduce or disallow the claims of more than US$200
million filed by energy companies, Bankruptcy Law360 reports.

According to the report, included were two objections to claims
filed by General Electric Co. totaling more than US$66 million.
The Debtor contends that GE didn't substantiate its claim.

Headquartered in Oklahoma, Global Power Equipment Group Inc.
(Pink Sheets: GEGQQ) -- http://www.globalpower.com/-- is a
design, engineering and manufacturing firm providing an array of
equipment and services to the energy, power infrastructure and
process industries.  The company designs, engineers and
manufactures a comprehensive portfolio of equipment for gas
turbine power plants and power-related equipment for industrial
operations, and has over 40 years of power generation industry
experience.  The company's equipment is installed in power
plants and in industrial operations in more than 40 countries on
six continents.  In addition, the company provides routine and
specialty maintenance services to nuclear, coal-fired, fossil,
and hydroelectric power plants and other industrial operations.

The company has facilities in Plymouth, Minnesota; Tulsa,
Oklahoma; Auburn, Massachusetts; Atlanta, Georgia; Monterrey,
Mexico; Shanghai, China; Nanjing, China; and Heerleen, The
Netherlands.

The company filed for chapter 11 protection on Sept. 28, 2006
(Bankr. D. Del. Case No. 06-11045).  Eric Michael Sutty, Esq.,
Jeffrey M. Schlerf, Esq., Kathryn D. Sallie, Esq., and Mary E.
Augustine, Esq., at The Bayard Firm and Malka S. Resnicoff,
Esq., and Matthew C. Brown, Esq., at White & Case LLP, represent
the Debtor.  Adam G. Landis, Esq., Kerri K. Mumford, Esq., and
Matthew B. McGuire, Esq., at Landis Rath & Cobb LLP, represent
the Official Committee of Unsecured Creditors.


KANSAS CITY SOUTHERN: UBS Raises Ratings on Shares to Buy
---------------------------------------------------------
UBS analysts have upgrade its ratings on Kansas City Southern's
shares to "buy" from "neutral," Newratings.com reports.

According to Newratings.com, the one-year target price for
Kansas City Southern's shares was decreased to US$40 from US$41.

The analysts said in a research note that the rating upgrade is
based on the recent significant drop in Kansas City Southern's
share price and continued positive view on the firm's financial
performance over the long term.

The analysts told Newratings.com that Kansas City Southern would
be unable to reach its 6% revenue growth goal and its 80%
operating ratio target for this year.  However, its long-term
prospects are convincing.

The earnings per share estimates for 2007 and 2008 were
decreased to US$1.38 from US$1.41 and US$1.81 from US$1.86,
respectively, Newratings.com states.

Headquartered in Kansas City, Mo., KCS is a transportation
holding company that has railroad investments in the US,
Mexico and Panama.  Its primary U.S. holding includes KCSR,
serving the central and south central US.  Its international
holdings include Kansas City Southern de Mexico, serving
northeastern and central Mexico and the port cities of Lazaro
Cardenas, Tampico and Veracruz, and a 50% interest in
Panama Canal Railway Company, providing ocean-to-ocean freight
and passenger service along the Panama Canal.  KCS' North
American rail holdings and strategic alliances are primary
components of a NAFTA Railway system, linking the commercial and
industrial centers of the U.S., Canada and Mexico.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 17, 2007, Standard & Poor's Ratings Services assigned its
'BB-' rating to Kansas City Southern Railway Co.'s proposed new
US$75 million term loan C due 2013; the recovery rating is '1',
indicating expectations of full recovery of principal in the
event of payment default.

In addition, a 'B' rating was assigned to the proposed new
US$165 million notes offering by Kansas City Southern de Mexico
S. de R.L. de C.V. (KCSM; previously TFM S.A. de C.V.) and other
senior unsecured ratings on KCSM were raised to 'B' from 'B-'.
Kansas City Southern Railway Co. and KCSM are wholly owned
subsidiaries of Kansas City Southern.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 17, 2007, Fitch Ratings assigned a 'B+' foreign currency
rating and a Recovery Rating of 'RR4' to the US$165 million
senior notes due 2014 to be issued by Kansas City Southern de
Mexico, S.A. de C.V.  The new notes rank pari passu with KCSM's
existing senior unsecured obligations.

Fitch also maintained 'B+' foreign currency ratings and 'RR4'
recovery ratings on KCSM's other outstanding notes:

     -- US$178 million 12.50% senior notes due 2012;
     -- US$460 million 9.375% senior notes due 2012;
     -- US$175 million 7.625% senior notes due 2013.

The proceeds of the proposed new issuance will be used primarily
to pay off the company's outstanding US$178 million 12.50% notes
due 2012.

Fitch also maintained a 'B+' foreign and local currency Issuer
Default Rating for KCSM.  Fitch said the rating outlook for
these ratings is stable.


MAZDA MOTORS: Recalls 280,000 Demios & Verisas in Japan
-------------------------------------------------------
Mazda Motor Corporation said that it will be recalling more than
280,000 cars in Japan due to defects, marking the biggest recall
on record, of the Hiroshima-based automaker, reports
Twiddlesticks.

Mazda spokeswoman Aya Takahashi stated that 287,987 Demios and
Verisa compact models produced between June 2003 and July 2006
will be recalled as defects that will affect the clutch systems
and coil springs in the suspensions were found.  However,
Ms. Takahashi clarified to Twiddlesticks that their have been no
reported injuries or damage due to the defects.  According to
Ms. Takahashi, the company will not wait until for their
customers to get hurt so they are announcing a recall.

Ms. Takahashi explained to Twiddlesticks that the present recall
is related to the coil springs with coatings that can be removed
easily attributed to the inappropriate installation of the parts
causing the coil to rust and the worst scenario is that it will
break and might cause accident.  Ms. Takahashi cited another
problem, which pertains to the material used to cap the
hydraulic oil used in the clutch system since it could leak
causing the clutch not to function properly.

Reportedly, the car manufacturer will conduct the repairs for
free but did not specify the total cost of the current recalls.

Demios exported totaling to 25,559, are not included in the
domestic recall but Mazda assured that it will handle the
defects of exported models inline with local regulations,
relates Twiddlesticks.

                      About Mazda Motors

Headquartered in Hiroshima Prefecture, in Japan, Mazda Motor
Corporation -- http://www.mazda.co.jp/-- together with its
subsidiaries and associates, is primarily involved in the
manufacture and distribution of automobiles.  The company
manufactures passenger cars and commercial vehicles.  Mazda
Motor distributes its products in both domestic and overseas
markets.  The company has 58 subsidiaries.  It has overseas
operations in the United States, Canada, Mexico, Germany,
Belgium, France, the United Kingdom, Switzerland, Portugal,
Italy, Spain, Austria, Russia, Columbia, New Zealand, Thailand,
Indonesia and China.  The Company has a global network.

                        *     *     *

As reported in the TCR-AP on April 27, 2007, Standard & Poor's
Ratings Services raised Mazda Motor Corp.'s long-term corporate
credit rating and the company's long-term senior unsecured debt
to:

   * Corporate Credit Rating: BB /Stable/
   * Company's Long-term Senior Unsecured Debt: BB+

S&P's rating actions reflect Mazda's improved operational and
financial performance, and financial risk profile.  Mazda's
operating and financial performance has been improving over the
past several years due to the success of new products following
a shift in strategy.  The company continued to improve operating
and financial performance in the nine months ended
Dec. 31, 2006, owing to an improved sales mix and favorable
foreign exchange rates.  Although the EBITDA margin of about 6%
remains lower than most of its Japanese peers, profitability is
steadily improving.  Mazda is now focusing on certain segments
instead of attempting to compete as a full-line producer.  The
company also has excellent product engineering capabilities.


MOVIE GALLERY: Inks Forbearance Pact with Senior Noteholders
------------------------------------------------------------
Movie Gallery, Inc. and the holder of a majority of principal
amount of its 11% Senior Notes due 2012, have executed a
Forbearance Agreement effective as of Aug. 31, 2007.  Under the
agreement, the majority holder will forbear (and direct the
trustee to forbear) until Sept. 30, 2007, from exercising rights
and remedies arising from any defaults occurring or existing
under the Indenture dated as of April 27, 2005.

The company also announced today that, due to its inability to
meet the financial covenants contained in its first lien credit
facility for the fiscal quarter ending July 1, 2007, it has sent
a notice of default to the agent under its second lien facility.
As a result of the default under the second lien facility, the
company also sent a notice of default to the agent under its
first lien facility, which default is subject to the company's
Forbearance Agreement with the first lien lenders, dated
July 20, 2007.  The company is in discussions with its second
lien lenders regarding the current situation.

                     About Movie Gallery

Headquartered in Dothan, Alabama, Movie Gallery, (Nasdaq: MOVI)
-- http://www.moviegallery.com/-- is a provider of in-home
movie and game entertainment in the United States.  It operates
over 4,600 stores in the United States, Canada, and Mexico under
the Movie Gallery, Hollywood Entertainment, Game Crazy, and VHQ
banners.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 9, 2007, Standard & Poor's Ratings Services lowered its
corporate credit rating on Movie Gallery Inc. to 'CCC+' from
'B-' based on the announcement that the company was not able to
meet its financial covenants for the fiscal quarter ended
July 1, 2007, and that the company is exploring available
restructuring and strategic alternatives.  S&P said the outlook
is developing.


NEWPARK RESOURCES: Closes SEM Construction Acquisition
------------------------------------------------------
Newpark Resources, Inc. has completed the acquisition of
substantially all of the assets and operations of SEM
Construction Company, headquartered in Grand Junction, Colorado.

Total cash consideration paid was US$21.3 million, which was
funded by borrowing on Newpark's revolving credit facility.  The
final purchase price is subject to a working capital adjustment.

SEM Construction Company is a full-service well site
construction company engaged in construction, reclamation,
maintenance, and general rig work for the oil and gas industry
at drilling locations throughout Western Colorado.

                   About Newpark Resources

Newpark Resources, Inc., (NYSE: NR) -- http://www.newpark.com/
-- is a worldwide provider of drilling fluids,environmental
waste treatment solutions, and temporary worksites and access
roads for oilfield and other commercial markets in the United
States Gulf Coast, west Texas, the United States Mid-continent,
the United States Rocky Mountains, Canada, Mexico, and areas of
Europe and North Africa.

                       *     *     *

As reported in the Troubled Company Reporter-Latin America on
Jan. 31, 2007, Moody's Investors Service affirmed these ratings
of Newpark Resources with a stable outlook:

   -- B1 Corporate Family Rating;
   -- B1 Probability of Default Rating; and,
   -- B2 LGD4, 58% rated senior secured term.


UAL CORP: Provides Update on Resale of 4.50% Senior Notes
---------------------------------------------------------
UAL Corp. separately filed with the U.S. Securities and Exchange
Commission, on July 7, 2007 and Aug. 14, two further supplements
to the prospectus dated April 23, 2007, relating to the resale
by selling security holders of up to US$726,000,000 aggregate
principal amount of 4.50% Senior Limited-Subordination
Convertible Notes due 2021 and shares of UAL's common stock
issuable upon conversion of the notes or in payment of accrued
interest on the notes.

The Third and Fourth Supplement to the Prospectus provides an
updated list of the Selling Securityholders and the total number
of UAL shares they beneficially own after the offering:

A. Third Supplement


Selling         Principal Amount of  UAL Shares   Shares Owned
Securityholder  Notes Owned/Offered   Offered    After Offering
--------------  -------------------  ----------  --------------
Credit Suisse          US$34,200,000     981,659               -
Securities Europe
Ltd.

Goldman, Sachs &           8,500,000     243,979       2,101,369
Co.

Total                  US$42,700,000   1,225,638       2,101,369


B. Fourth Supplement

Selling          Principal Amount of  UAL Shares   Shares Owned
Securityholder   Notes Owned/Offered   Offered    After Offering
--------------   -------------------  ----------  --------------
Fidelity                US$21,090,000     605,356              -
Devonshire Trust:
Fidelity Equity-
Income Fund

Fidelity                  10,500,000     301,386               -
Financial Trust:
Fidelity
Convertible
Securities Fund

Variable Insurance         8,680,000     249,146               -
Products Fund:
Equity Income
Portfolio

Fidelity Puritan           7,730,000     221,878               -
Trust: Fidelity
Puritan Fund

Fidelity Advisor           5,200,000     149,258          19,200
Series II: Fidelity
Advisor High Income
Advantage Fund

Fidelity Financial         2,000,000      57,407               -
Trust: Fidelity
Strategic Dividend
& Income Fund

Pension Investment         1,800,000      51,666               -
Committee of
General Motors
Employees Domestic
Group Pension Trust

Fidelity Large Cap           120,000       3,444               -
Value Fund

JPMorgan Securities        5,935,000     170,355               -
Inc.

Total                  US$63,055,000   1,809,896          19,200

UAL stated that the information concerning the Selling
Securityholders may change from time to time.  Any changed
information will be set forth in prospectus supplements or
amendments from time to time, if required.

The Selling Securityholder's notes are assumed at a conversion
rate of 28.7035 shares of UAL's Common Stock per US$1,000
principal amount of the notes and a cash payment in lieu of any
fractional shares.

The Third Supplement to the Prospectus is available for free at:

http://sec.gov/Archives/edgar/data/100517/000095013707009664/c16
501e424b7.htm

The Fourth Supplement to the Prospectus is available for free
at:

http://sec.gov/Archives/edgar/data/100517/000095013707012351/c17
791b7e424b7.htm

                       About UAL Corp.

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA)
-- http://www.united.com/-- is the holding company for United
Air Lines, Inc.  United Airlines is the world's second largest
air carrier.  With key global air rights in the Asia-Pacific
region, Europe and Latin America (Mexico), United Airlines is
the world's second largest air carrier.  The company filed for
chapter 11 protection on Dec. 9, 2002 (Bankr. N.D. Ill. Case No.
02-48191).  James H.M. Sprayregen, Esq., Marc Kieselstein, Esq.,
David R. Seligman, Esq., and Steven R. Kotarba, Esq., at
Kirkland & Ellis, represented the Debtors in their restructuring
efforts.  Fruman Jacobson, Esq., at Sonnenschein Nath &
Rosenthal LLP represented the Official Committee of Unsecured
Creditors before the Committee was dissolved when the Debtors
emerged from bankruptcy.  Judge Wedoff confirmed the Debtors'
Second Amended Plan on Jan. 20, 2006.  The company emerged from
bankruptcy protection on Feb. 1, 2006.  (United Airlines
Bankruptcy News, Issue No. 146; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)

                        *     *     *

UAL Corp. and its principal operating subsidiary United Airlines
Inc., carries Fitch Ratings' B- Issuer Default Rating.




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ROYAL CARIBBEAN: Promotes Two Executives as President & CEO
-----------------------------------------------------------
Royal Caribbean Cruises Ltd. has promoted two of its top
executives to president and chief executive officer of their
respective brands.  Nineteen-year Royal Caribbean executive,
Adam Goldstein, president of Royal Caribbean International since
2005, becomes president and CEO of that brand, and eight-year
Royal Caribbean and Celebrity Cruises veteran, Dan Hanrahan,
president of Celebrity Cruises since 2005, adds CEO to his title
as well.  Both officers will continue to report to Royal
Caribbean Cruises Ltd. Chairman and CEO Richard D. Fain, and
both changes are effective immediately.

"As our company continues to grow and diversify, it is
reassuring to know we have such extraordinarily effective
individuals who have assumed the leadership of their respective
brands," said Mr. Fain.  "They have built their brands into
powerful and commanding market leaders, and have fully earned
the broader designation as 'president and CEO' of those brands.
This promotion reflects the roles they have already been
fulfilling and is consistent with common industry practice."

The company's Executive Committee will continue to consist of
Mr. Fain, Goldstein and Hanrahan, along with long-time company
executive Brian Rice, executive vice president and chief
financial officer.

"I am very proud of this management team and look forward to
working with them and all our other very capable leaders to
guide the company into a future of continued success," Mr. Fain
added.

Headquartered in Miami, Royal Caribbean Cruises Ltd. (NYSE: RCL)
-- http://www.royalcaribbean.com/-- is a global cruise
vacation company that operates Royal Caribbean International,
Celebrity Cruises and Pullmantur.  The company has a combined
total of 34 ships in service and seven under construction.  It
also offers unique land-tour vacations in Alaska, Australia,
Canada, Europe and Latin America.  One of the company's tour
starting points is in Panama.

                        *     *     *

As reported in the Troubled Company Reporter on Jan. 15, 2007,
Moody's Investors Service assigned Royal Caribbean Ltd.'s new
benchmark size Euro senior unsecured notes Ba1, raised RCL's
Speculative Grade Liquidity rating to SGL-2 from SGL-3 and
affirmed all other existing ratings.


* PANAMA: Begins Work on US$5.25-Billion Waterway Expansion
-----------------------------------------------------------
Panama started Monday the expansion of its famous Canal in a
ceremony attended by former U.S. President Jimmy Carter, who
signed the 1977 treaty that gave Panama control of the waterway,
Kathia Martinez at the Associated Press reports.

The Panama Canal is a major ship canal that traverses the
Isthmus of Panama in Central America, connecting the Atlantic
and Pacific Oceans.  According to Inside Costa Rica, the project
is the largest-ever overhaul of the short cut between the
Pacific and Atlantic oceans.  The US launched the Panama Canal
in 1914, after 10 years of construction that cost thousands of
lives.  The US then surrendered the canal to the Panamanian in
December 1999.

The expansion project is designed to allow for an anticipated
growth in traffic from 280 million PC/UMS tons in 2005 to nearly
510 million PC/UMS tons in 2025; the expanded canal will have a
maximum sustainable capacity of approximately 600 million PC/UMS
tons per year.

The largest ships that cross the canal are allowed to carry up
to 5,000 containers.  However, in the future, supertankers and
cargo ships shipping as many as 12,000 containers will be able
to navigate it, Inside Costa Rica adds.

About two-thirds of the cargo that passed through the Canal is
headed for the United States, the AP relates.  Once the
expansion is completed, the price of consumer goods in the U.S.
East Coast is expected to go down.

The project, financed with borrowings from international
lenders, is expected to bring in more revenues for the
government to pay back more than US$10 billion in debts and help
its impoverished citizens, the AP states.  The expansion
completion date target is in 2014, in time for the Canal's
centenary.

About 80% of the gross domestic product of Panama is connected
to canal activity, Inside Costa Rica states.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Dec. 14, 2006, Fitch Ratings affirmed the Republic of Panama's
long-term foreign currency Issuer Default Rating of 'BB+'.
Fitch also affirmed the sovereign's long-term local currency IDR
of 'BB+', the short-term foreign currency IDR of 'B' and the
country ceiling of 'BBB+'.  Fitch said the rating outlook is
stable.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 8, 2007, Standard & Poor's Ratings Services revised its
outlook on its 'BB' long-term sovereign credit rating on the
Republic of Panama to positive from stable and affirmed its 'B'
short-term foreign currency sovereign credit rating on the
republic.




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DOE RUN: Settles Environmental Infractions
------------------------------------------
Doe Run Peru's institutional relations manager Victor Belaunde
told Business News Americas that the firm has resolved its
environmental infractions.

BNamericas relates that the Peruvian energy and mining
investment regulator Osinergmin fined Doe Run Peru PEN720,000
and ordered a clean-up, after concluding a probe into four
environmental incidents in January 2007.

Mr. Belaunde told BNamericas that the infractions were "minor
and very specific," and that they have been taken care of.
Among the incidents involved "unauthorized dumping from portable
toilets by one of Doe Run's service providers."

Doe Run signed that Pama agreement with the government when it
bought the La Oroya polymetallic smelter in Junin department in
1997.  Under the accord, the firm has to spend at least US$108
million on environmental remediation works.

Doe Run told BNamericas that it will have spent US$244 million
on Pama efforts.

Based in St. Louis, Mo., The Doe Run Company --
http://www.doerun.com/-- is a privately held natural resources
company dedicated to environmentally responsible mineral
production, metals fabrication, recycling and reclamation.  The
company and its subsidiaries deliver products and services
needed to provide power, protection and convenience through
premium products and associated metals including lead, zinc,
copper, gold and silver.  As the operator of one of the world's
only multi-metal facilities and the Americas' largest integrated
lead producer, Doe Run employs more than 5,000 people, with U.S.
operations in Missouri, Washington and Arizona, and Peruvian
operations in Cobriza and La Oroya.

Doe Run Peru S.R.L., an indirect Peruvian subsidiary, operates a
smelter in La Oroya, Peru, one of the largest polymetallic
processing facilities in the world, producing an extensive
product mix of non-ferrous and precious metals, including
silver, copper, zinc, lead and gold.  Doe Run Peru also has a
copper mining and milling operation in Cobriza, Peru in the
region of Huancavelica, which is approximately 200 miles
southeast of La Oroya in Peru.

              Doe Run Peru Going Concern Doubt

As reported in the Troubled Company reporter-Latin America on
Aug. 10, 2006, Doe Run Peru has significant capital requirements
under environmental commitments and guarantees and substantial
contingencies related to taxes and has significant debt service
obligations under the revolving credit facility, each of which,
if not satisfied, could result in a default under Doe Run Peru's
credit agreement and collectively raise substantial doubt about
Doe Run Peru's ability to continue as a going concern.

Doe Run Peru continues to have substantial cash requirements in
the future, including the maturity of the revolving credit
facility on Sept. 22, 2006, and significant capital requirements
under environmental commitments.  In addition, there are
substantial contingencies related to taxes.

The Doe Run Peru Revolving Credit Facility expires on
Sept. 22, 2006, and will require negotiations to extend its
terms.  There can be no assurance that Doe Run Peru will be
successful in extending the existing credit agreement or
negotiating a new agreement, or if it is successful, that the
extended or new credit agreement would be at terms that are
favorable to Doe Run Peru.

Any default under the requirements of the Environmental
Remediation and Management Program could result in a default
under the Doe Run Peru Revolving Credit Facility.  A default
under the requirements of the Doe Run Peru Revolving Credit
Facility results in defaults under the Doe Run Revolving Credit
Facility and the indenture governing the bonds.


WORLDSPAN LP: Inks Distribution Agreement with Gullivers Travel
---------------------------------------------------------------
Worldspan and Gullivers Travel Associates, also part of
Travelport, entered into a new four-year distribution agreement
that will bring Gullivers Travel's hotel inventory into the
Worldspan global distribution system.  The partnership will add
thousands of properties, along with Gullivers Travel's retail
rates, to the Worldspan Hotel Select(R) global shopping and
booking system in use by travel agencies and corporations.

Worldspan's industry-leading XML data exchange technology will
be used to create a real-time interface between Gullivers
Travel's internal reservations system and the Worldspan GDS.
Later this year, Worldspan Hotel Source(R) will distribute
Gullivers Travel content through Worldspan to points of sale
worldwide, providing travel buyers with real-time property
availability, rates, rules and immediate confirmations directly
from Gullivers Travel's internal system.

"Worldspan is pleased to become the first global distribution
system to integrate Gullivers Travel content into the global
distribution system primary agent display and to support their
business with the most advanced XML solution for global travel
distribution," said Kathy Fitzpatrick, Worldspan vice president
- North America Sales and Worldwide Travel Supplier Solutions.
"As one of the world's leading hospitality distribution
companies, Gullivers Travel will materially expand content
offerings available to Worldspan subscribers with over 23,000
unique hotel properties globally."

"Worldspan has taken the industry's biggest steps with XML
technology to offer travel suppliers direct connections and
seamless distribution through a global distribution system.  We
are pleased to partner with a technology leader as we expand our
reach to a substantial new base of travel retailers worldwide,"
said Kurt Ekert, executive vice president and general manager,
Gullivers Travel Americas & OctopusTravel.com Worldwide.

Worldspan XML technology is the first and leading end-to-end
data exchange solution for direct connections between travel
suppliers and a global distribution system.  It supports the
exchange of a broad range of transactional, informational and
descriptive content between host systems.

Galileo-connected travel agents already have access to Gullivers
Travel hotel content through Galileo Leisure, branded G
Destinations in Canada -- the industry leading leisure portal
first launched in November 2005.  The portal also offers
extensive car hire, sightseeing and transfer content from
Gullivers Travel and all bookings made are integrated into a
single booking file saving on back- office time for agents.
Galileo Leisure is now available in 64 languages and 24
countries.

              About Gullivers Travel Associates

Gullivers Travel Associates -- http://www.galileoleisure.com/
-- a Travelport company, is a leading global wholesaler of
ground products and services to the travel industry.  Gullivers
Travel supplies tour operators, travel agents and public Web
sites with one-stop- shopping.  Its vast inventory is available
in 27 languages and includes more than 80,000 rooms a night at
over 23,000 hotels and apartments worldwide, airport transfers,
sightseeing tours and even concert tickets and restaurant
reservations. Gullivers Travel books over 16 million hotel bed
nights each year.

                      About Worldspan

Headquartered in Atlanta, Georgia, Worldspan, L.P. --
http://www.worldspan.com/-- is a leader in travel technology
services for travel suppliers, travel agencies, e-commerce sites
and corporations worldwide.  Utilizing some of the fastest, most
flexible and efficient networks and computing technologies,
Worldspan provides comprehensive electronic data services
linking approximately 800 travel suppliers around the world to a
global customer base.  Worldspan offers industry-leading Fares
and Pricing technology such as Worldspan e-Pricing(R), hosting
solutions, and customized travel products.  Worldspan enables
travel suppliers, distributors and corporations to reduce costs
and increase productivity with technology like Worldspan Go!(R)
and Worldspan Trip Manager(R) XE.  The company's Latin American
operations are in Argentina, The Bahamas, Brazil, Jamaica,
Mexico, Peru, Puerto Rico, Uruguay and Venezuela.

                        *     *     *

As reprted in the Troubled Company Reporter-Latin America on
Aug. 27, 2007, Standard & Poor's Ratings Services withdrew all
ratings on Worldspan L.P., including the 'B' corporate credit
rating.   The rating action follows the company's acquisition by
Travelport LLC (B/Stable/--) on Aug. 21, 2007.




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ALLIED WASTE: Completes Asset Sale to Veolia ES for US$86 Mil.
--------------------------------------------------------------
Allied Waste Industries Inc. has completed its previously
announced transaction with Veolia ES Solid Waste Inc. in which
it has sold to Veolia certain solid waste landfill and
collection assets in the east-central and southeastern United
States for US$86 million.

The assets include collection and disposal operations in
Claypool and Warsaw, Indiana, eastern Kentucky, south-central
Georgia and, pending final municipal approval expected in mid-
September, in southern Illinois.  These operations include 6
hauling companies, 2 transfer stations and 5 landfills.

In conjunction with the completion of the transaction, Allied
Waste expects to record a non-cash charge, primarily related to
goodwill, in the range of US$40 million to US$45 million.

               About Veolia ES Solid Waste, Inc.

Veolia Solid Waste is one of the largest solid waste management
organizations in North America. Veolia Solid Waste provide a
full range of services to more than 145,000 commercial and
industrial firms and 1,350,000 residences in 11 states, the
Bahamas, and Canada.

              About Allied Waste Industries, Inc.

Headquartered in Scottsdale, Arizona, Allied Waste Industries
Inc. -- http://www.alliedwaste.com/and http://www.disposal.com/
-- (NYSE: AW) provides waste collection, transfer, recycling,
and disposal services for residential, commercial, and
industrial customers in over 100 major markets spanning 37
states and Puerto Rico.  The company has 24,000 employees.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 14, 2007, Fitch Ratings has upgraded the following ratings
on Allied Waste Industries Inc. (NYSE: AW) and its Allied Waste
North America and Browning-Ferris Industries subsidiaries, as:

Allied Waste Industries Inc.

    -- Issuer Default Rating to 'B+' from 'B'.

Allied Waste North America

    -- IDR to 'B+' from 'B';
    -- Secured credit facility rating to 'BB+/RR1' from
       'BB/RR1';
    -- Senior secured notes rating to 'BB/RR2' from 'B+/RR3'.

Browning-Ferris Industries

    -- Senior secured notes rating to 'BB/RR2' from 'B+/RR3'.




=============
U R U G U A Y
=============


BANCO HIPOTECARIO DEL URUGUAY: Earns UYU1.59B in First 7 Months
---------------------------------------------------------------
Banco Hipotecario del Uruguay posted on its Web site that its
profit increased 36.8% to UYU1.59 billion in the first seven
months of 2007, from the first seven months of 2006.

Business News Americas relates that Banco Hipotecario's net
interest income before provisions rose 41.1% in the first seven
months of this year to UYU1.30 billion, compared to the same
period last year.  Its fee income dropped 11.4% to UYU20.5
million.  Provisions for loan losses rose to UYU883 million.

According to BNamericas, the Uruguayan government promised to
conclude Banco Hipotecario's restructuring by the end of this
month.  The plan that Uruguayan President Tabare Vasquez's
administration drafted includes an up to US$250-million
capitalizing of the bank and the creation of a new unit to
manage past-due loans.  The restructuring would let the bank
return to lending and transfer about 40% of its loan book to the
new agency to lessen its level of past-due loans to 20%.  The
bank's past-due loan ratio was 83.1% as of July 2007, compared
to 69.1% in July 2006.

Banco Hipotecario's assets totaled UYU33.6 billion in July 2007,
while its equity reached UYU1.98 billion, BNamericas states.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Dec. 27, 2006, Moody's Investors Service assigned these ratings
on Banco Hipotecario del Uruguay:

   -- Foreign currency deposit rating: B2 from Caa1,
      stable outlook

   -- National scale rating for foreign currency deposits:
      A3.uy from Ba2.uy, with a stable outlook

   -- National scale foreign currency debt rating: A2.uy
      from Baa2.uy




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ARVINMERITOR INC: Partners with Chery to Design Chassis Systems
---------------------------------------------------------------
ArvinMeritor Inc. and Chery Form Chassis Systems have entered
into a joint venture partnership to design and manufacture
chassis systems and components.

The new joint venture, ArvinMeritor Chassis Systems Wuhu Co.,
will evolve to a US$150-million full-systems chassis supplier by
2010.  Production of shocks and struts will begin as early as
2008.

"ArvinMeritor's alliance with Chery is a great example of the
company attaining strategic growth from three key focus areas;
increasing business with Asian customers, expanding in emerging
markets, and growing our light vehicle chassis business," said
Phil Martens, president of ArvinMeritor's Light Vehicle Systems
business group.  "This new business, which is quickly ramping
up, comes on the heels of several other new Chery contracts with
ArvinMeritor for its door systems technologies.  We're honored
that Chery continues to choose us as its technology partner,"
continued Mr. Martens.  "We see these contracts as the first
steps of many long-term opportunities for both companies."

"As the automotive footprint continues to evolve, ArvinMeritor
is well positioned to participate in Asia's explosive growth
through its global partnerships and manufacturing network,
including today's announcement with Chery," said Rakesh Sachdev,
president of ArvinMeritor's Asia Pacific operation.  "The new
chassis systems joint venture plant in Wuhu will be one of
several China-based facilities ArvinMeritor is adding to its
network over the next 18 months in support of new business with
customers in the region."

Headquartered in Troy, Michigan, ArvinMeritor, Inc. (NYSE: ARM)
-- http://www.arvinmeritor.com/-- is a premier USUS$8.8
billion global supplier of a broad range of integrated systems,
modules and components to the motor vehicle industry.  The
company serves light vehicle, commercial truck, trailer and
specialty original equipment manufacturers and certain
aftermarkets.  ArvinMeritor employs approximately 29,000 people
at more than 120 manufacturing facilities in 25 countries.
These countries are: China, India, Japan, Singapore, Thailand,
Australia, Venezuela, Brazil, Argentina, Belgium, Czech
Republic, France, Germany, Hungary, Italy, Netherlands, Spain,
Sweden, Switzerland, United Kingdom, among others.  ArvinMeritor
common stock is traded on the New York Stock Exchange under the
ticker symbol ARM.

                        *     *     *

As reported in the Troubled Company Reporter on Feb. 12, 2007
Dominion Bond Rating Service assigned a rating of BB (low) to
the US$175 million Convertible Senior Unsecured Notes of
ArvinMeritor Inc.  DBRS says the trend is stable.

As reported on on Feb. 6, 2007, Moody's Investors Service has
downgraded ArvinMeritor's Corporate Family Rating to Ba3 from
Ba2.  Ratings on the company's secured bank obligations and
unsecured notes were lowered one notch as a result.

Ratings lowered:

ArvinMeritor Inc.

   -- Corporate Family Rating to Ba3 from Ba2

   -- Senior Secured bank debt to Ba1, LGD-2, 20% from Baa3,
      LGD-2, 18%

   -- Senior Unsecured notes to B1, LGD-4, 65% from Ba3,
      LGD-4, 64%

   -- Probability of Default to Ba3 from Ba2

   -- Shelf unsecured notes to (P)B1, LGD-4, 65% from (P)Ba3,
      LGD-4, 64%

Arvin Capital I

   -- Trust Preferred to B2, LGD-6, 96% from B1, LGD-6, 96%

Arvin International PLC

   -- Unsecured notes guaranteed by ArvinMeritor Inc. to B1,
      LGD-4, 65% from Ba3, LGD-4, 64%

Ratings affirmed:

ArvinMeritor Inc.

   -- Speculative Grade Liquidity rating, SGL-2


* VENEZUELA: Sells US$23 Million 91-Day Securities
--------------------------------------------------
The Venezuelan government sold Tuesday in an auction US$23
million (VEB50 billion) of 91-day securities, Alex Kennedy at
Bloomberg News reports.

The zero-coupon bills will yield 7.97%, up from last year's
3.94% rate.  Bloomberg says the surge is caused by inflation
concerns caused by the weakening of the bolivar's exchange rate
in unregulated, parallel market.

Analyst Enrique Alvarez at IDEAglobal in New York told Bloomberg
that the South American nation might be "testing the waters for
possible larger sales."

Venezuela cancelled last month a planned sale of about VEB4
trillion in five and 15-year debts, and US$1.5 billion of dollar
and bolivar bonds amid a rout in global credit markets that
drove up yields on emerging-market securities, Bloomberg says.

As reported in the Troubled Company Reporter on Nov. 20, 2006,
Fitch Ratings affirmed Venezuela's long-term foreign and local
currency Issuer Default Ratings at 'BB-'.  At the same time, the
agency also affirmed the short-term foreign currency IDR at 'B'
and the Country Ceiling at 'BB-'.  Fitch said the ratings'
outlook remained stable.


                         ***********


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 - Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  Marjorie C. Sabijon, Sheryl Joy P. Olano, Rizande
de los Santos, Christian Toledo, and Pamella Rita Jala, Editors.

Copyright 2007.  All rights reserved.  ISSN 1529-2746.

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