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        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

            Friday, February 15, 2008, Vol. 9, No. 33

                            Headlines



A R G E N T I N A

ACXIOM CORP: Paying Six Cents Per Share Dividend on March 17
ACXIOM CORP: Increases Stock Repurchase Program by US$25 Mil.
ALITALIA SPA: AirOne Woos Lombardy Investors to Join Bid
ASOCIACION ARGENTINA: Claims Verification Deadline is May 9
BALLY TECH: Earns US$24.4 Million in Quarter Ended Dec. 31, 2007
BALLY TECH: To Provide Casino Management Systems for Harrah's
CAFE DEL PILAR: Proofs of Claim Verification Ends on March 10
COMPANIA TEXTIL: Trustee Verifies Proofs of Claim Until April 4
DELTA AIR: Bank of NY and Hillsborough Demand Summary Judgment
DELTA AIR: District Judge Affirms Ruling on Kenton Settlement
DELTA AIR: To Focus on Joint Pilot Contract with Northwest
DELTA AIR: VIAD Corp. Nips at Objection to Environmental Claims
DOMITEX SRL: Trustee Verifies Proofs of Claim Until April 4
FARMA 10: Proofs of Claim Verification Deadline is April 11
MACCHI GROUP: Proofs of Claim Verification Ends on April 17
MUTIENVASES SA: Proofs of Claim Verification is Until April 17
NVIDIA CORPORATION: Completes Acquisition of AGEIA Technologies
NVDIA CORP: Fiscal 2008 Earnings Up 78% to US$797.6 Million
SCHUCHNER SILVIO: Trustee Verifies Proofs of Claim Until April 4
WR GRACE: Seeks Court OK to Extend DIP Facility Until April 2010
WR GRACE: Asbestos Claims Estimation Trial to Resume March 24
WR GRACE: Wants to Contribute US$17 Million to Pension Plan

B A H A M A S

HARRAH'S ENT: Bally to Provide Casino Management System
METROPOLITAN BANK: Top Trust Fund Manager, Says Watson Wyatt
PINNACLE ENT: Rouge Parish Voters OK US$250 Mil. Riviere Dev't

B E R M U D A

MAGELLAN INSURANCE: Proofs of Claim Filing Ends on February 20
SECURITAS EDC: Proofs of Claim Filing is Until on February 28
SECURITAS ALLIED: Proofs of Claim Filing Deadline is February 28
SECURITAS ALLIED: Final Shareholders Meeting is on March 19
SECURITAS EDC: Sets Final Shareholders Meeting for March 19

B R A Z I L

ATARI INC: Dec. 31 Balance Sheet Upside-Down by US$16,811,000
FREESCALE SEMI: Appoints Rich Beyer as Chairman and CEO
FREESCALE SEMICONDUCTOR: Fitch Shifts Rating Outlook to Negative
GERDAU AMERISTEEL: Earns US$537.9-Mln in Year Ended December 31
INGRAM MICRO: Earns US$114.1 Million in Fourth Quarter 2007
NORTEL NETWORKS: In Talks with Motorola to Merge Wireless Units
NOVELL INC: Extends To Open Collaboration Biz With SiteScape Buy
PROPEX INC: Gets Access to Additional US$40 Mln of DIP Financing
PROPEX INC: Shaw and IRS Balk at BNP Paribas DIP Fund Agreement

C A Y M A N  I S L A N D S

BANK OF AYUDHYA: Plans To Sell THB20 Billion in Bonds
BBH AOF: Holding Final Shareholders Meeting on February 28
MARCO POLO: Final Shareholders Meeting is on February 28
MODULUS SELECT: Sets Final Shareholders Meeting for February 28

C H I L E

BOSTON SCIENTIFIC: Will Pay US$431 Mil. in Stent Patent Dispute
FIDELITY NATIONAL: Declares US$0.05 Per Common Share Dividend
FIDELITY NAT'L: Jeff Carbiener to Lead Lender Processing Unit
WARNER MUSIC: Moody's Downgrades Corporate Family Rating to B1

C O L O M B I A

BANCOLOMBIA SA: Jan. 2008 Unconsolidated Income is COP47,048MM
ECOPETROL SA: Seeking Oil & Gas with Turkish Petroleum
SOLUTIA INC: Lenders Seek Clarification of Funding Commitment
SOLUTIA INC: Resolves EPA Environmental Claim for US$3,600,000

C O S T A  R I C A

DENNY'S CORP: Net Income Increases to US$34.7 Mil. in FY 2007

D O M I N I C A N   R E P U B L I C

AES CORP: Restarts Redondo Beach Unit
* DOMINICAN REPUBLIC: Inter-American Offers Electrical Pact

E C U A D O R

PETROBRAS ENERGIA: 4th Qtr. Net Income Drops to ARS206 Million

E L  S A L V A D O R

HERBALIFE LTD: Signs Three-Year Pact With Kaiser Permanente

G U A T E M A L A

ALCATEL-LUCENT SA: Posts EUR3.52 Billion Net Loss for 2007
AFFILIATED COMPUTER: Amends Solano County Customer Service Pact

J A M A I C A

AIR JAMAICA: Loses Court Battle Against Flight Attendants
AIR JAMAICA: Union Wants Airline To Pay All Bills Before Sale
SUGAR CO: Frome Eyes 50,090 Tons of Sugar Production in 2008

M E X I C O

BERRY PLASTICS: Completes Acquisition of Captive Plastics Inc.
COLLINS & AIKMAN: Bayer Unit Buys IP Rights on Thermoplastics
COTT CORP: Net Loss Ups to US$76.8 Mil. in Quarter Ended Dec. 29
DAVE & BUSTER'S: Rtgs. Unaffected by Firm Sale Report, S&P Says
FORD MOTOR: Fitch Affirms B Issuer Default Rating; Outlook Neg.
WENDY'S INT'L: Trian Partners Moves to Raise Board Size to 15

P A N A M A

* PANAMA: To Enter Free Trade Talks with Guatemala

P U E R T O  R I C O

ADELPHIA COMMS: Recovery Trust Assets Valued at $677,700,000
AGILENT TECH: Reports US$120 Million Net Income in First Quarter
AGILENT TECHNOLOGIES: Adds WiMAX Protocol Testing in Runcom Deal
DIRECTV GROUP: Earns US$348 Million in Fourth Qtr. Ended Dec. 31
FUNDACION DR: Wants Cash Collateral Access for Hospital Sale
GLOBAL HOME: Judge Gross Confirms Joint Amended Chapter 11 Plan
JETBLUE AIRWAYS: Names Edward Barnes as Chief Financial Officer
ROYAL CARIBBEAN: Inks US$530 Mil. Credit Pact with Nordea Bank

U R U G U A Y

GERDAU SA: Earns BRL4.3 Billion in 2007 Fiscal Year
GERDAU SA: Investing US$6.4 Billion in Technological Upgrades

V E N E Z U E L A

CATALYST PAPER: Posts US$31.6MM Net Loss on US$1,714.6MM Sales
CHRYSLER LLC: Extends Exclusive Deal w/ SIRIUS Until Sept. 2017
CHRYSLER LLC: Insists That It Owns Tooling Equipment
NORTHWEST AIRLINES: To Focus on Joint Pilot Contract with Delta
PETROLEOS DE VENEUZELA: Depositing Oil Sales Receipts with UBS
PETROLEOS DE VENEZUELA: May File Lawsuit Against Exxon Mobil
SHAW GROUP: E&I Unit Bags Two Task Order Contracts from US Navy

X X X X X X

* LatAm Voice Services Market To Top US$775.8 Million by 201



                         - - - - -


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

ACXIOM CORP: Paying Six Cents Per Share Dividend on March 17
------------------------------------------------------------
Acxiom(R) Corporation's board of directors has declared a
quarterly cash dividend of six cents per share payable on
March 17 to shareholders of record as of the close of business on
Feb. 25.

While Acxiom intends to pay regular quarterly dividends for the
foreseeable future, all subsequent dividends will be reviewed
quarterly and declared by the board at its discretion.

Based in Little Rock, Arkansas, Acxiom(R) Corporation (Nasdaq:
ACXM) -- http://www.acxiom.com/-- integrates data, services and
technology to create and deliver customer and information
management solutions for many of the largest, most respected
companies in the world.  The core components of Acxiom's
solutions are Customer Data Integration technology, data,
database services, IT outsourcing, consulting and analytics, and
privacy leadership.  Founded in 1969, Acxiom has locations
throughout the United States, Europe, Australia and China.

Acxiom has a team of specialists with sales and business
development associates based in the largest Latin American
markets: Brazil, Argentina and Mexico.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
Dec. 18, 2007, Moody's Investors Service confirmed Acxiom Corp.'s
Ba2 corporate family rating and assigned a negative rating
outlook, concluding a review for possible downgrade initiated on
May 17, 2007, following the company's announcement that it had
entered into a definitive agreement to be acquired by Silver Lake
and ValueAct Capital for US$3.0 billion.


ACXIOM CORP: Increases Stock Repurchase Program by US$25 Mil.
-------------------------------------------------------------
Acxiom(R) Corporation's board of directors has authorized a
US$25 million increase in its stock repurchase program.  On
Oct. 26, 2007, the company announced a 12-month, US$75 million
program whereby the company would repurchase its common stock in
open market or privately negotiated transactions, depending on
prevailing market conditions and other factors.  Since the
inception of the program, the company has purchased approximately
4.175 million shares for a total purchase price of US$50.6
million.  At a meeting Feb. 13, 2008, the board voted to increase
the authorization to US$100 million.  The repurchase program may
be suspended or discontinued at any time.

Based in Little Rock, Arkansas, Acxiom(R) Corporation (Nasdaq:
ACXM) -- http://www.acxiom.com/-- integrates data, services and
technology to create and deliver customer and information
management solutions for many of the largest, most respected
companies in the world.  The core components of Acxiom's
solutions are Customer Data Integration technology, data,
database services, IT outsourcing, consulting and analytics, and
privacy leadership.  Founded in 1969, Acxiom has locations
throughout the United States, Europe, Australia and China.

Acxiom has a team of specialists with sales and business
development associates based in the largest Latin American
markets: Brazil, Argentina and Mexico.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Dec. 18, 2007, Moody's Investors Service confirmed Acxiom Corp.'s
Ba2 corporate family rating and assigned a negative rating
outlook, concluding a review for possible downgrade initiated on
May 17, 2007, following the company's announcement that it had
entered into a definitive agreement to be acquired by Silver Lake
and ValueAct Capital for US$3.0 billion.


ALITALIA SPA: AirOne Woos Lombardy Investors to Join Bid
--------------------------------------------------------
AirOne S.p.A. chairman Carlo Toto is inviting businessmen from the
Lombardy region to join the airline's bid to acquire the Italian
government's 49.9% stake in Alitalia S.p.A., Reuters reports.

According to the report, Mr. Toto held a meeting with Gaetano
Micciche, head of Intesa Sanpaolo S.p.A.'s corporate division, and
other business leaders in the region, where Milan Malpensa airport
is located.

Around 20 businessmen expressed interest in joining the bid,
Reuters relates, citing local reports.

As reported in the TCR-Europe on Feb. 7, 2008, AirOne said its
offer will be financially backed by Intesa Sanpaolo S.p.A.,
Goldman Sachs Group Inc., Morgan Stanley and Nomura Holdings
Plc.

TPG Inc. and Pirelli & S.p.A. chairman Marco Tronchetti Provera
may join AirOne in its Alitalia bid.  Reuters said MyChef may also
participate in the offer.

Politicians and businessmen in the region have expressed concern
on the impact of the possible sale of the stake to Air France-KLM
SA, which business plan for Alitalia entails downscaling
operations at Malpensa.  An official at Italian slot coordinator
Assoclearance has said that Alitalia will release around 180 of
its 357 slots at Malpensa as part of its downscale strategy.
Alitalia said the slots are unused ones during the summer season,
which starts March 30, 2008, and ends Oct. 25, 2008.

AirOne said it would present a binding offer once it wins an
appeal at the Italian Regional Administration Court of Lazio.
As reported in the TCR-Europe on Feb. 5, 2008, AP Holding
S.p.A., investment arm of AirOne, has filed an appeal with the
court  to declare null and void a Dec. 28, 2007, decision of
Italy's Ministry of Economy and Finance to commence exclusive
talks to sell the Italy's stake to Air France.

AirOne winning the suit would allow it to present its binding
offer for the state-owned carrier.

As reported in the TCR-Europe on Jan. 17, 2008, Alitalia and
Italy have commenced exclusive sale talks with Air France-KLM.
The carriers have until mid-March to reach an agreement, which
would be approved by the government.

In its non-binding offer, Air France plans to:

   -- acquire 100% of the shares of Alitalia through an
      exchange offer;

   -- acquire 100% of Alitalia convertible bonds; and

   -- immediately inject at least EUR750 million into
      Alitalia through a capital increase, that will be open to
      all shareholders and be fully underwritten by Air France.

                          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, EUR168 million in 2005, and
EUR625.6 million in 2006.

Italian Transport Minister Alessandro Bianchi has warned that
Alitalia may file for bankruptcy if the current attempt to sell
the government's 49.9% stake fails.


ASOCIACION ARGENTINA: Claims Verification Deadline is May 9
-----------------------------------------------------------
Osvaldo Luis Weiss, the court-appointed trustee for Asociacion
Argentina de Establecimientos Geriatricos' bankruptcy proceeding,
verifies creditors' proofs of claim until May 9, 2008.

Mr. Weiss will present the validated claims in court as individual
reports on June 20, 2008.  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 determine if the verified
claims are admissible, taking into account the trustee's opinion,
and the objections and challenges that will be raised by
Asociacion Argentina 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 Asociacion Argentina's
accounting and banking records will be submitted in court on Aug.
15, 2008.

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

The trustee can be reached at:

         Osvaldo Luis Weiss
         Roque Saenz Pena 651
         Buenos Aires, Argentina


BALLY TECH: Earns US$24.4 Million in Quarter Ended Dec. 31, 2007
----------------------------------------------------------------
Bally Technologies Inc. has announced results for the three months
and six months ended Dec. 31, 2007.

"We are very pleased to report record quarterly results for our
second quarter," said Chief Executive Officer, Richard M. Haddril.
"Our great game performance and continued system success is
reflected in record quarterly revenues in each of our game sales,
gaming operations and systems businesses."

           Second Quarter Fiscal 2008 Highlights

  Three Months Ended Dec. 31, 2007 Vs. Three Months Ended
  Dec. 31, 2006

   -- Total revenues increased 53% to US$230.7 million as
      compared with US$150.9 million in the same period last
      year.

   -- Operating income increased by US$41.1 million to
      US$46.8 million, as compared with US$5.7 million in the
      same period last year; operating margin was 20% in the
      three months ended Dec. 31, 2007.

   -- Net income increased by US$26.9 million to
      US$24.4 million, as compared with a loss of US$2.5 million
      in the same period last year, primarily as a result of
      improved margin and cost leverage.

   -- Adjusted EBITDA was US$63.9 million, a 172% increase as
      compared with the same period last year.

   -- Selling, general and administrative expenses declined to
      26% of total revenue from 33% as compared with the same
      period last year.

  Six Months Ended Dec. 2007, Vs. Six Months Ended Dec. 2006

   -- Total revenues increased 38% to US$419.7 million as
      compared with US$304.7 million in the same period last
      year.

   -- Operating income increased by US$74 million to US$88
      million, as compared with US$14 million in the same period
      last year; operating margin was 21% in the six months
      ended Dec. 31, 2007.

   -- Net income increased by US$48.4 million to US$45.7
      million, as compared with a loss of US$2.7 million in the
      same period last year, primarily as a result of improved
      margin and cost leverage.

   -- Adjusted EBITDA was US$122.4 million, a 146% increase as
      compared with the same period last year.

   -- Selling, general and administrative expenses declined to
      27% of total revenue from 33% as compared with the same
      period last year.

"We are again pleased with our operating leverage this quarter,"
said Chief Financial Officer, Robert C. Caller.  "Our SG&A in the
current quarter compared with the September 2007 quarter increased
by US$8.7 million primarily due to higher professional and
accounting fees, Global Gaming Expo trade-show expenses, and
commission and bad-debt expenses associated with higher revenue.
However, as a% of revenue, SG&A decreased to 26% from 28% in the
September 2007 quarter."

                  Certain Results Highlights for
               the Three Months Ended Dec. 31, 2007

Gaming Equipment

   -- Revenues increased to approximately US$108.4 million, a
      54% increase as compared with the same period last year.

   -- A 53% increase in new gaming device sales to 7,144 units
      as compared with 4,672 units in the same period last year.

   -- A 4% increase in the ASP of new gaming devices, excluding
      OEM sales, primarily due to product mix and the effect of
      foreign currency exchange rates on international pricing.

   -- Gross margin increased from 34% in the same period last
      year to 44%, a slight decline from 46% in the first
      quarter of fiscal 2008.  The improvement in margins over
      the same period last year was primarily related to the
      increase in ASP discussed above, the elimination of lower
      margin OEM sales, and improved purchasing and
      manufacturing efficiencies due to increased volumes and
      lower manufacturing costs.  Game equipment margins were
      negatively impacted by approximately US$2 million in one-
      time expenses related to the entrance into new
      international markets in the current quarter.

Gaming Operations

   -- Revenues increased 34% to approximately US$54.2 million as
      compared with the same period last year.

   -- Gross margin remained consistent at 58% in this year and
      in the same period last year.

   -- Revenue and gross margin in fiscal 2007 includes daily
      fees that relate to certain contracts that were deferred
      in the first and second quarter of fiscal 2008 due to new
      contractual commitments made to the customers.
      Approximately US$4.4 million in daily fees generated
      during the second quarter of fiscal 2008 were deferred
      pending delivery of the commitments.

   -- Revenue and gross margin was negatively impacted by US$1.1
      million due to the additional deferred revenue and normal
      seasonality and the softness in casino revenues in the
      domestic market compared with the September 2007 quarter.

   -- Gross margins were negatively impacted by the deferral of
      revenue discussed above and approximately US$2 million of
      jackpot expenses compared with the September 2007 quarter
      and the same period last year.

Systems

   -- Revenues increased 95% to approximately US$56.3 million as
      compared with the same period last year, primarily as a
      result of continued acceptance of the company's products
      and an increase in the number of go-lives.

   -- Gross margin increased slightly to 73% from 72% in the
      same period last year.

   -- Maintenance revenues increased to approximately US$9.9
      million from approximately US$8.3 million in the same
      period last year.

   -- As of Dec. 31, 2007, the company had sold approximately
      67,000 units of its iVIEW(TM) player-communication units.
      iVIEW units purchased and committed to be purchased now
       exceed 97,000.

                  Certain Results Highlights for
                the Six Months Ended Dec. 31, 2007

Gaming Equipment

   -- Revenues increased 45% to approximately US$192.7 million
      as compared with the same period last year.

   -- A 52% increase in new gaming device sales to 12,295 units
      as compared with 8,099 units in the same period last year.

   -- A 7% increase in the ASP of new gaming devices, excluding
      OEM sales, primarily due to product mix and the effect of
      foreign currency exchange rates on international pricing.
      ASP was negatively impacted in the prior year as a result
      of incentive pricing and discounts offered to customers
      related to the roll-out of Bally's Alpha OS(TM) platform
      products.

   -- Gross margin increased to 45% from 33% in the same period
      last year.  The improvement in margins was primarily
      related to the increase in ASP discussed above, the
      elimination of lower margin OEM sales, and improved
      purchasing and manufacturing efficiencies related to
      increased volumes and lower manufacturing costs.

Gaming Operations

   -- Revenues increased 34% to approximately US$108.3 million
      as compared with the same period last year.

   -- Revenue and gross margin in fiscal 2007 include daily fees
      that relate to certain contracts that were deferred in the
      first and second quarter of fiscal 2008 due to new
      contractual commitments made to customers.  Approximately
      US$7.6 million in daily fees generated during the six
      months ended Dec. 31, 2007 was deferred pending delivery
       of the commitments.

Systems

   -- Revenues increased 41% to approximately US$95.5 million as
      compared with the same period last year primarily as a
      result of continued acceptance of the company's products
      and an increase in the number of go-lives principally in
      the second quarter for fiscal 2008.

   -- Gross margin increased to 74% from 68% in the same period
      last year primarily as a result of an increase in the
      proportion of software and maintenance sales as compared
      with hardware sales.  Hardware sales have lower gross
      margins compared with software and maintenance revenue.

   -- Maintenance revenues increased to approximately US$19.3
      million from approximately US$15.9 million in the same
      period last year.

                   Fiscal 2008 Business Update

The company raised its fiscal 2008 guidance for Diluted EPS to
US$1.62 to US$1.87, from an earlier range of US$1.60 to US$1.90.
Adjusted EPS is now estimated between US$1.75 to US$2.05 from an
earlier range of US$1.70 to US$2.00.

The company expects revenues in fiscal 2008 to exceed
US$875 million, with continued year-over-year growth in each of
game sales, gaming operations and system revenues.  The company
continues to forecast an increase in the placement of premium
daily-fee games and an increase in the number of gaming devices
sold, and also expects margins on game sales and operations to
continue to improve in fiscal 2008 as compared with fiscal 2007.
The company also continues to expect its selling, general and
administrative expenses as a%age of revenue to be lower in fiscal
2008 as compared with fiscal 2007.  The company expects its
effective tax rate for fiscal 2008 will be between 37% and 38%.

The company has provided this broad range of earnings guidance to
give investors general information on the overall direction of its
business. The guidance provided is subject to numerous
uncertainties, including, among others, overall economic
conditions, the market for gaming devices and systems, competitive
product introductions, complex revenue recognition rules related
to the company's business, and assumptions about the company's new
product introductions and regulatory approvals.  The company may
update this fiscal 2008 guidance from time to time as the year
progresses.

                About Bally Technologies Inc.

Headquartered in Las Vegas, Nevada, Bally Technologies, Inc.
(NYSE: BYI) -- http://www.BallyTech.com/-- designs,
manufactures, operates, and distributes advanced gaming devices,
systems, and technology solutions worldwide.  Bally's product line
includes reel-spinning slot machines, video slots, wide-area
progressives and Class II lottery and central determination games
and platforms.  Bally Technologies also offers an array of casino
management, slot accounting, bonus, cashless, and table management
solutions.  The company also owns and operates Rainbow Casino in
Vicksburg, Mississippi.  The company's South American operations
are located in Argentina.  The company also has operations in
France, Germany, Macau, China, India, and the United Kingdom.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Dec. 27, 2007, Fitch Ratings upgraded Bally Technologies' Issuer
Default Rating and senior secured bank debt ratings as: IDR to 'B'
from 'B-' and Secured bank credit facilities to 'BB/RR1' from
'B/RR3'.


BALLY TECH: To Provide Casino Management Systems for Harrah's
-------------------------------------------------------------
Bally Technologies Inc. has extended its domestic relationship
with Harrah's Entertainment, Inc. to provide key casino slot and
gaming management and marketing systems for Harrah's international
operations.

The transaction is subject to Harrah's corporate approvals,
execution of definitive agreements, and receipt of required
regulatory approvals.

Bally and Harrah's commitment to work together internationally
comes on the heels of Bally's recent announcement that it
continues to bolster its international product portfolio and
infrastructure.  Bally is developing more games and systems
technology specifically for international markets and has recently
opened new sales and support offices in Spain and South Africa,
with a Mexico City office slated to open this spring.

"We're pleased to be extending our relationship with Bally
Technologies as we pursue an aggressive global growth strategy,"
said Harrah's Entertainment Chief Information Officer and Senior
Vice President of Innovation & Gaming, Tim Stanley.  "Bally has
been a provider of choice in supplying the operational, accounting
and management systems that support our industry-leading Total
Rewards(TM) capabilities that enhance our guests' experience
through interactive entertainment offerings.  Under this new
agreement, Bally will also become a key software supplier for our
casino and gaming management systems at our current and planned
international operations."

Bally also announced that Harrah's has licensed Bally Power
Winners(TM) and Power Promotions(TM) technologies for use as part
of Harrah's new and proprietary PRISM interactive customer
relationship management initiative.  Under the licensing
agreement, which is also subject to Harrah's corporate approvals,
execution of definitive agreements, and receipt of regulatory
approvals,  Harrah's can implement Bally's new promotional and
downloadable credit features as an integral part of Harrah's Total
Rewards(TM) marketing programs worldwide.

Harrah's PRISM initiative, an acronym for Personalized Real-time
Interactive Slot Marketing, is designed to introduce unique CRM
features and capabilities to the millions of Harrah's Total
Rewards cardholders who play the company's 60,000-plus slots.

"We are very excited about extending our partnership with Harrah's
to supply these system products internationally and cutting-edge
promotional and downloadable credit features worldwide," said
Bally Technologies Chief Executive Officer, Richard M. Haddrill.
"The flexibility and configuration options built into our products
will allow Harrah's to build on the existing strength of its
player-loyalty program and manage their business both domestically
and globally."

                   About Harrah's Entertainment

Headquartered in Las Vegas, Nevada, Harrah's Entertainment Inc.
(NYSE: HET) -- http://www.harrahs.com/-- through its wholly owned
subsidiary Harrah's Operating Company Inc., provides branded
casino entertainment.  Since its beginning in Reno, Nevada 70
years ago, Harrah's has grown through development of new
properties, expansions and acquisitions, and now owns or manages
casinos on four continents.  The company's properties operate
primarily under the Harrah's(R), Caesars(R) and Horseshoe(R) brand
names; Harrah's also owns the London Clubs International family of
casinos.  In January 2007, it signed a joint venture agreement
with Baha Mar Resorts Ltd. to operate a resort in Bahamas.

                  About Bally Technologies Inc.

Headquartered in Las Vegas, Nevada, Bally Technologies, Inc.
(NYSE: BYI) -- http://www.BallyTech.com/-- designs, manufactures,
operates, and distributes advanced gaming devices, systems, and
technology solutions worldwide.  Bally's product line includes
reel-spinning slot machines, video slots, wide-area progressives
and Class II lottery and central determination games and
platforms.  Bally Technologies also offers an array of
casino management, slot accounting, bonus, cashless, and table
management solutions.  The company also owns and operates Rainbow
Casino in Vicksburg, Mississippi.  The company's South American
operations are located in Argentina.  The company also has
operations in France, Germany, Macau, China, India, and the United
Kingdom.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on Dec.
27, 2007, Fitch Ratings upgraded Bally Technologies' Issuer
Default Rating and senior secured bank debt ratings as: IDR to 'B'
from 'B-' and Secured bank credit facilities to 'BB/RR1' from
'B/RR3'.


CAFE DEL PILAR: Proofs of Claim Verification Ends on March 10
-------------------------------------------------------------
Pedro Valle, the court-appointed trustee for Cafe del Pilar SRL's
bankruptcy proceeding, verifies creditors' proofs of claim until
March 10, 2008.

Mr. Valle will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 14
in Buenos Aires, with the assistance of Clerk No. 28, will
determine if the verified claims are admissible, taking into
account the trustee's opinion, and the objections and challenges
that 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 Cafe del Pilar 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 Cafe del Pilar's
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

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

The debtor can be reached at:

         Cafe del Pilar SRL
         Juncal 776
         Buenos Aires, Argentina

The trustee can be reached at:

         Pedro Valle
         Avenida de Mayo 1260
         Buenos Aires, Argentina


COMPANIA TEXTIL: Trustee Verifies Proofs of Claim Until April 4
---------------------------------------------------------------
Mario Daniel Krasnasky, the court-appointed trustee for Compania
Textil de Servicios S.R.L.'s reorganization proceeding, will be
verifying creditors' proofs of claim until April 4, 2008.

Mr. Krasnasky will present the validated claims in court as
individual reports on May 19, 2008.  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 Compania
Textil 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 Compania Textil's
accounting and banking records will be submitted in court on
July 1, 2008.

Creditors will vote to ratify the completed settlement plan during
the assembly on Dec. 23, 2008.

The trustee can be reached at:

        Mario Daniel Krasnasky
        Viamonte 1785
        Buenos Aires, Argentina


DELTA AIR: Bank of NY and Hillsborough Demand Summary Judgment
--------------------------------------------------------------
The Bank of New York and Hillsborough County Aviation Authority
ask the Hon. Adlai S. Hardin of the U.S. Bankruptcy Court for the
Southern District of New York to grant summary judgment in their
favor to clarify that:

   * the Hillsborough Agreement between Delta and HCAA does not
     constitute a "true lease" within the meaning of Section 365
     of the Bankruptcy Code; and

   * HCCA and BNY's claims for damages arising out of Delta's
     rejection of the Hillsborough Agreement are not subject to
     the limitations on damages under Section 502(b)(6) of the
     Bankruptcy Code.

As previously reported, Hillsborough issued bonds to Delta
Air Lines, Inc., with BNY as the Indenture Trustee, pursuant to a
1982 Indenture.  Delta used the proceeds to construct a hanger
and maintenance facility and to make other improvements to a
Tampa International Airport property in Florida.  The bonds were
refinanced in 1988 and 1993.

Pursuant to a stipulation requiring rejection of the Tampa Lease,
Delta made the required periodic payments for use and occupancy
of the Leased Premises, as required by the Indenture.

When Delta discontinued the payments, Hillsborough and BNY filed
an US$8,110,311 claim for debt service payments.  Hillsborough has
a separate US$4,181,735 claim for periodic payments, which the
Debtors refuse to pay.

Hillsborough and BNY contend that the payments constitute debt
obligations and should be treated as prepetition general
unsecured claims.  Both parties also seek Delta's payment of the
costs and disbursements incurred during the proceeding, including
reasonable attorney's fees.

                        About Delta Air

Based in Atlanta, Georgia, Delta Air Lines Inc. (NYSE:DAL) --
http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier
across the Atlantic, offering daily flights to 328 destinations
in 56 countries on Delta, Song, Delta Shuttle, the Delta
Connection carriers and its worldwide partners.  Delta flies to
Argentina, Australia and the United Kingdom, among others.

The company and 18 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents
the Debtors in their restructuring efforts.  Timothy R. Coleman
at The Blackstone Group L.P. provides the Debtors with financial
advice.  Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at
Akin Gump Strauss Hauer & Feld LLP, provide the Official
Committee of Unsecured Creditors with legal advice.  John
McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James
S. Feltman at Mesirow Financial Consulting, LLC, serve as the
Committee's financial advisors.

The Debtors filed a chapter 11 plan of reorganization and
disclosure statement explaining that plan on Dec. 19, 2007.  On
Jan. 19, 2007, they filed revisions to the plan and disclosure
statement, and submitted further revisions to the plan on
Feb. 2, 2007.  On Feb. 7, 2007, the Court approved the Debtors'
disclosure statement.  In April 25, 2007, the Court confirmed
the Debtors' plan.  That plan became effective on April 30, 2007.
The Court entered a final decree closing 17 cases on Sept. 26,
2007.  (Delta Air Lines Bankruptcy News, Issue No. 89; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)

As of Sept. 30, 2007, the company's balance sheet showed total
assets of US$32.7 billion and total liabilities of US$23 billion,
resulting in a US$9.7 billion stockholders' equity.  At Dec. 31,
2006, deficit was US$13.5 billion.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Jan. 18, 2008, Standard and Poor's said that media reports that
Delta Air Lines Inc. (B/Positive/--) entered into merger talks
with UAL Corp. (B/Stable/--) and Northwest Airlines Corp.
(B+/Stable/--) will have no effect on the ratings or outlook on
Delta, but that confirmed merger negotiations would result in
S&P's placing ratings of Delta and other airlines involved on
CreditWatch, most likely with developing or negative implications



DELTA AIR: District Judge Affirms Ruling on Kenton Settlement
------------------------------------------------------------

Judge John G. Koetl of the U.S. District Court of the Southern
District of New York affirmed the ruling entered by the
Bankruptcy Court with respect to Delta Air Lines Inc.'s
settlement agreement with Kenton County Airport Board, and UMB
Bank, N.A., as indenture trustee.

The Agreement dated March 8, 2007, relates to two special
facilities revenue bonds -- the US$419,000,000 Kenton County
Airport Special Facilities Revenue Bonds, 1992 Series A, and the
US$19,000,000 Kenton County Airport Special Facilities Revenue
Bonds, 1992 Series B.

Pursuant to the Settlement Agreement, the Debtors agreed to
amend their Joint Plan of Reorganization to provide the 1992
Bondholders approximately US$67,000,000 in aggregate principal
amount of senior unsecured notes with a term not extending
beyond 2015 and an 8.00% annual interest rate.

Essentially, the Ad Hoc Committee of Kenton County Bondholders
maintained that the District Court should vacate the Bankruptcy
Court's Settlement Order and for the Appellees to either ratify
the Agreement without Bankruptcy Court approval of the releases
or to reform the Settlement to address objections.

However, Judge Koetl ruled that nullifying the releases while
leaving the remainder of the consummated Settlement intact would
ignore the trade-off that allowed the parties to settle.
Similarly, undoing the Settlement would complicate Delta's
rights to the Cincinnati/Northern Kentucky Airport as an
important hub of its operations, and would risk negative effects
on Delta's vitality as a reorganized entity.

Vacating the Bankruptcy Court's Settlement Order would "knock
the props out from under the authorization for every transaction
. . . and create an unmanageable, uncontrollable situation for
the Bankruptcy Court" considering the irreversible financial
transactions that have occurred, Judge Koetl said, citing
Metromedia, 416 F.3d at 144 (quoting Chateaugay II, 10 F.3d at
953).

Moreover, the KCAB Bondholders could freely trade the
distributed stock at the same time as other creditors to avoid
market risk, which showed good cause to coincide the Settlement
Closing with initial distributions under the Debtors' Plan,
Judge Koetl added.

Under Section 1334(b) of the Bankruptcy Code, the Bankruptcy
Court has jurisdiction to approve the Settlement binding non-
Debtors because the litigation had a "conceivable effect" on
Delta's estate and obligations.  The Bankruptcy Court is also
authorized to approve third party claim releases that played an
important part in the Plan, Judge Koetl maintained.

The District Court also concurred with Bankruptcy Judge Adlai S.
Hardin's conclusion that the Indenture authorized the Bond
Trustee to conduct remedial proceedings at the behest of a
majority of the Bondholders, and that the Bond Trustee's
remedial powers included the right to enter the Settlement that
was ultimately approved by the Bankruptcy Court.

According to Judge Koetl, the Bankruptcy Court correctly found
that the Indenture did not bar it from approving the Settlement,
particularly in view of (i) the agreement by the Bond Trustee at
the direction of a majority in principal amount of the
Bondholders, (ii) the finding that the Settlement was fair and
reasonable, and (iii) the approval of the Joint Plan of
Reorganization, which incorporates the Settlement, by a large
majority of the Bondholders.

Judge Koetl maintained that "the effect on creditors who are not
parties to an appeal moots an appeal."  Hence, the absence of
the vast majority of KCAB Bondholders from the proceeding
renders it inequitable to undo the Settlement to benefit a small
number of dissenting Bondholders.

Accordingly, Judge Koetl maintained that ". . . there is no
doubt as to the finality of the Bankruptcy Court's [Settlement]
Order."

                         About Delta Air

Based in Atlanta, Georgia, Delta Air Lines Inc. (NYSE:DAL) --
http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier
across the Atlantic, offering daily flights to 328 destinations
in 56 countries on Delta, Song, Delta Shuttle, the Delta
Connection carriers and its worldwide partners.  Delta flies to
Argentina, Australia and the United Kingdom, among others.

The company and 18 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents
the Debtors in their restructuring efforts.  Timothy R. Coleman
at The Blackstone Group L.P. provides the Debtors with financial
advice.  Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at
Akin Gump Strauss Hauer & Feld LLP, provide the Official
Committee of Unsecured Creditors with legal advice.  John
McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James
S. Feltman at Mesirow Financial Consulting, LLC, serve as the
Committee's financial advisors.

The Debtors filed a chapter 11 plan of reorganization and
disclosure statement explaining that plan on Dec. 19, 2007.  On
Jan. 19, 2007, they filed revisions to the plan and disclosure
statement, and submitted further revisions to the plan on
Feb. 2, 2007.  On Feb. 7, 2007, the Court approved the Debtors'
disclosure statement.  In April 25, 2007, the Court confirmed
the Debtors' plan.  That plan became effective on April 30,
2007.  The Court entered a final decree closing 17 cases on
Sept. 26, 2007.  (Delta Air Lines Bankruptcy News, Issue No. 89;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

As of Sept. 30, 2007, the company's balance sheet showed total
assets of US$32.7 billion and total liabilities of
US$23 billion, resulting in a US$9.7 billion stockholders'
equity.  At Dec. 31, 2006, deficit was US$13.5 billion.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Jan. 18, 2008, Standard and Poor's said that media reports that
Delta Air Lines Inc. (B/Positive/--) entered into merger talks
with UAL Corp. (B/Stable/--) and Northwest Airlines Corp.
(B+/Stable/--) will have no effect on the ratings or outlook on
Delta, but that confirmed merger negotiations would result in
S&P's placing ratings of Delta and other airlines involved on
CreditWatch, most likely with developing or negative
implications.


DELTA AIR: To Focus on Joint Pilot Contract with Northwest
----------------------------------------------------------
To avoid a messy, protracted labor wrangle that could arise from
consolidation, Delta Air Lines Inc. and Northwest Airlines Corp.
are making efforts to come up with a "common labor contract" for
their 11,000 pilots before a merger deal is completed, The Wall
Street Journal reports.

Delta and Northwest shared details of their proposed combination
with each airline's Air Line Pilots Association chapter so that
union leaders will study how to mesh seniority lists, a unnamed
source familiar with the situation told Bloomberg News.  As the
pilot talks could lead to improved contract terms for both
groups
compared with their current contracts, the unions are engaged,
WSJ said, citing one person close to the situation.

Delta and Northwest might finalize their proposed merger, at the
earliest, late next week, according to reports.

Amid merger rumors, Delta flight attendants are aiming for
representation by the Association of Flights Attendants, says
The Associated Press.  Reports note that more than half of
Delta's 12,000 flight attendants have supported this goal, and
are expected to vote on Feb. 14, 2008, with the National
Mediation Board on whether or not to join AFA.  At least 35
percent of the 12,000 active flight attendants must sign cards
for the NMB to call an election.

A similar effort made by the flight attendants in late 2001 or
early 2002 failed, says the AP.

Delta spokesperson Betsy Talton said the airline is "not
surprised" by the attendants' plans.

Delta and Northwest declined to comment on the merger talks and
the pilot negotiations.

                 Delta's Merger Review Continues,
                   Delta-Northwest Deal Nears

Delta's chief executive officer, Richard Anderson, says Delta's
board and management team are continuing their review of the
airline's strategic options, including mergers, Reuters reports.

While prospects of a merger might unsettle certain people at
Delta, Mr. Anderson assured employees that the management will
ensure a thorough process where "Delta people are at the center
of every decision being considered".

The Delta CEO did not disclose when the review will end.

"If we do any transaction, we have to do the right thing
for the people.  I don't know if we can accomplish those goals .
. . because there's somebody on the other side [who has to be in
agreement]," Delta President Ed Bastian said in an interview
with The Atlanta Journal-Constitution.

Rumors have also swirled that Delta is looking toward
Continental Airlines Inc., but held only preliminary talks with
the Houston-based airline recently.

Delta also reportedly held separate discussions with United
Airlines parent UAL Corp.

With a Delta-Northwest combination in the works, Continental and
UAL are looking into "negotiations of their own," according to
The New York Times.

Delta and Northwest would become the world's biggest carrier if
they combined.

                     About Northwest Airlines

Northwest Airlines Corp. (NYSE: NWA) -- http://www.nwa.com/--
is the world's fourth largest airline with hubs at Detroit,
Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam, and about
1,400 daily departures.  Northwest is a member of SkyTeam, an
airline alliance that offers customers one of the world's most
extensive global networks.  Northwest and its travel partners
serve more than 1000 cities in excess of 160 countries on six
continents.  Northwest and its travel partners serve more than
1000 cities in excess of 160 countries on six continents,
including Italy, Spain, Japan, China, Venezuela and Argentina.

The company and 12 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).  Bruce
R. Zirinsky, Esq., and Gregory M. Petrick, Esq., at Cadwalader,
Wickersham & Taft LLP in New York, and Mark C. Ellenberg, Esq.,
at Cadwalader, Wickersham & Taft LLP in Washington represent the
Debtors in their restructuring efforts.  The Official Committee
of Unsecured Creditors has retained Akin Gump Strauss Hauer &
Feld LLP as its bankruptcy counsel in the Debtors' chapter 11
cases.

When the Debtors filed for bankruptcy, they listed US$14.4
billion in total assets and US$17.9 billion in total debts.  On
Jan. 12, 2007 the Debtors filed with the Court their Chapter 11
Plan.  On Feb. 15, 2007, they Debtors filed an Amended Plan &
Disclosure Statement.  The Court approved the adequacy of the
Debtors' Disclosure Statement on March 26, 2007.  On May 21,
2007, the Court confirmed the Debtors' Plan.  The Plan took
effect May 31, 2007.

                         About UAL Corp.

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA)
-- http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest
air carrier.  The airline flies to Brazil, Korea and Germany.

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, Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).

                    About Continental Airlines

Continental Airlines Inc. (NYSE: CAL) -- http://continental.com/
-- is the world's fifth largest airline.  Continental, together
with Continental Express and Continental Connection, has more
than 2,900 daily departures throughout the Americas, Europe and
Asia, serving 144 domestic and 139 international destinations.
More than 500 additional points are served via SkyTeam alliance
airlines.  With more than 45,000 employees, Continental has hubs
serving New York, Houston, Cleveland and Guam, and together with
Continental Express, carries approximately 69 million passengers
per year.

                         About Delta Air

Based in Atlanta, Georgia, Delta Air Lines Inc. (NYSE:DAL) --
http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier
across the Atlantic, offering daily flights to 328 destinations
in 56 countries on Delta, Song, Delta Shuttle, the Delta
Connection carriers and its worldwide partners.  Delta flies to
Argentina, Australia and the United Kingdom, among others.

The company and 18 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents
the Debtors in their restructuring efforts.  Timothy R. Coleman
at The Blackstone Group L.P. provides the Debtors with financial
advice.  Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at
Akin Gump Strauss Hauer & Feld LLP, provide the Official
Committee of Unsecured Creditors with legal advice.  John
McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James
S. Feltman at Mesirow Financial Consulting, LLC, serve as the
Committee's financial advisors.

The Debtors filed a chapter 11 plan of reorganization and
disclosure statement explaining that plan on Dec. 19, 2007.  On
Jan. 19, 2007, they filed revisions to the plan and disclosure
statement, and submitted further revisions to the plan on
Feb. 2, 2007.  On Feb. 7, 2007, the Court approved the Debtors'
disclosure statement.  In April 25, 2007, the Court confirmed
the Debtors' plan.  That plan became effective on April 30,
2007.  The Court entered a final decree closing 17 cases on
Sept. 26, 2007.  (Delta Air Lines Bankruptcy News, Issue No. 89;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

As of Sept. 30, 2007, the company's balance sheet showed total
assets of US$32.7 billion and total liabilities of
US$23 billion, resulting in a US$9.7 billion stockholders'
equity.  At Dec. 31, 2006, deficit was US$13.5 billion.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Jan. 18, 2008, Standard and Poor's said that media reports that
Delta Air Lines Inc. (B/Positive/--) entered into merger talks
with UAL Corp. (B/Stable/--) and Northwest Airlines Corp.
(B+/Stable/--) will have no effect on the ratings or outlook on
Delta, but that confirmed merger negotiations would result in
S&P's placing ratings of Delta and other airlines involved on
CreditWatch, most likely with developing or negative
implications.


DELTA AIR: VIAD Corp. Nips at Objection to Environmental Claims
---------------------------------------------------------------
VIAD Corp., and its former subsidiaries Dispatch Services, Inc.,
Florida Aviation Fueling Co., Inc., and Aircraft Service
International Inc., maintain that Delta Air Lines Inc. and its
debtor-affiliates' objection to their Claim No. 7352 does not
overcome prima facie validity of the Claim.

VIAD filed Claim No. 7352 against Delta for allegations of
environmental contamination made by the Miami-Dade County
Aviation Department.  Delta argued that the Claim should be
expunged because it is not reflected in their books and records.

Richard S. Kanowitz, Esq., at Cooley Godward Kronish LLP, in New
York, recounts that in December 2005, MDAD filed suit against
VIAD seeking over US$11,000,000 in damages for environmental
contamination at the Miami International Airport.  As amended in
2006, MDAD's Claim included damage to the Tank Farm, an aviation
fuel storage facility at MIA -- where Delta owned and operated
the fuel storage facility known as Dike Area #5.  MDAD alleged
that the areas are contaminated with, among other things,
petroleum hydrocarbons, including Jet A Fuel.

MDAD's allegation of liability for environmental contamination
at the MIA concourses and the Tank Farm gives rise to VIAD's
Claim No. 7352 against the Debtors.

VIAD's former subsidiary, ASII, began certain operations at the
Tank Farm in 1994, including Dike Area #5, under a Management
and Operation Agreement with MDAD.  Pursuant to the Agreement,
Delta engaged in various transactions with ASII in order to fuel
its aircraft and otherwise conduct business at the MIA terminal
area, the tank farm, and Dike Area #5, Mr. Kanowitz tells the
Court.

Based on the 1994 Agreement, VIAD is neither responsible nor
liable for any environmental violation existing prior to the
execution of the 1994 Management and Operation Agreement,
including contamination or damages arising from Delta's
operations at the concourses, Dike Area #5 or other areas it
controlled or maintained, and contamination for which VIAD was
obligated to remediate pursuant to the 1994 Management and
Operating Agreement.

Delta or other third parties caused the contamination, and
therefore, VIAD is neither responsible nor liable for any
contamination-related damages, Mr. Kanowitz tells Judge Hardin.

Mr. Kanowitz maintains that contrary to the Debtors' assertion
that their books and records do not reflect the Claim, Delta in
fact knew of the Claim and possessed documents to support VIAD's
Claim.

As Delta was a member of the Cooperating Parties Group and
the CPG Executive Committee, it was aware of the claims made by
MDAD against various potentially responsible parties, Mr.
Kanowitz adds.

Furthermore, Mr. Kanowitz says that Delta has settled its
environmental claims with MDAD in 2007, so it clearly had
documentation demonstrating potential liability as to Dike Area
#5 and other areas.

               Judge Hardin Expunges Several Claims


Meanwhile, the Hon. Adlai S. Hardin of the U.S. Bankruptcy Court
for the Southern District of New York expunged several claims
related to the Debtors' bankruptcy case, including:

   * 16 claims totaling US$259,030 which are not reflected in
     the Debtors' books and records;

   * Claim Nos. 1214, 247, 7773, 348, 4616, 4618 and 8582
     totaling US$64,929,201 that were amended and superseded by
     subsequently filed claims;

   * 27 claims aggregating US$22,722,022 that, according to the
     Debtors, have been paid in full;

   * Claim Nos. 8152, 8612 and 8614 aggregating US$151,418 that
     were filed past the Claims Bar Date;

   * Claim Nos. 657, 7693, 7902 and 159 totaling US$2,781,535
     which lack sufficient supporting documentation;

   * Mary Daly's Claim No. 4446 for an unspecified amount,
     because it has already been dismissed on the merits and
     holds no basis for the alleged liability; and

   * Marie R. James' Claim No. 8217 which asserts an equity
     interest and should instead be treated in accordance with
     the Plan.

The Court also allowed Claim Nos. 349, 8328, 8091, 8161 and 8288
in their reduced amounts, totaling US$110,541.  Monroe Country
Tax Co.'s unsecured Claim No. 7739 for US$75 is reclassified as
a secured claim.

                         About Delta Air

Based in Atlanta, Georgia, Delta Air Lines Inc. (NYSE:DAL) --
http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier
across the Atlantic, offering daily flights to 328 destinations
in 56 countries on Delta, Song, Delta Shuttle, the Delta
Connection carriers and its worldwide partners.  Delta flies to
Argentina, Australia and the United Kingdom, among others.

The company and 18 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents
the Debtors in their restructuring efforts.  Timothy R. Coleman
at The Blackstone Group L.P. provides the Debtors with financial
advice.  Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at
Akin Gump Strauss Hauer & Feld LLP, provide the Official
Committee of Unsecured Creditors with legal advice.  John
McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James
S. Feltman at Mesirow Financial Consulting, LLC, serve as the
Committee's financial advisors.

The Debtors filed a chapter 11 plan of reorganization and
disclosure statement explaining that plan on Dec. 19, 2007.  On
Jan. 19, 2007, they filed revisions to the plan and disclosure
statement, and submitted further revisions to the plan on
Feb. 2, 2007.  On Feb. 7, 2007, the Court approved the Debtors'
disclosure statement.  In April 25, 2007, the Court confirmed
the Debtors' plan.  That plan became effective on April 30,
2007.  The Court entered a final decree closing 17 cases on
Sept. 26, 2007.  (Delta Air Lines Bankruptcy News, Issue No. 89;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

As of Sept. 30, 2007, the company's balance sheet showed total
assets of US$32.7 billion and total liabilities of
US$23 billion, resulting in a US$9.7 billion stockholders'
equity.  At Dec. 31, 2006, deficit was US$13.5 billion.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Jan. 18, 2008, Standard and Poor's said that media reports that
Delta Air Lines Inc. (B/Positive/--) entered into merger talks
with UAL Corp. (B/Stable/--) and Northwest Airlines Corp.
(B+/Stable/--) will have no effect on the ratings or outlook on
Delta, but that confirmed merger negotiations would result in
S&P's placing ratings of Delta and other airlines involved on
CreditWatch, most likely with developing or negative
implications.


DOMITEX SRL: Trustee Verifies Proofs of Claim Until April 4
-----------------------------------------------------------
Mario Daniel Krasnasky, the court-appointed trustee for Domitex
S.R.L.'s reorganization proceeding, will be verifying creditors'
proofs of claim until April 4, 2008.

Mr. Krasnasky will present the validated claims in court as
individual reports on May 19, 2008.  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 Domitex 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 Domitex's accounting
and banking records will be submitted in court on July 1, 2008.

Creditors will vote to ratify the completed settlement plan
during the assembly on Dec. 23, 2008.

The trustee can be reached at:

        Mario Daniel Krasnasky
        Viamonte 1785
        Buenos Aires, Argentina


FARMA 10: Proofs of Claim Verification Deadline is April 11
-----------------------------------------------------------
Bernardino Kopcow, the court-appointed trustee for Farma 10
S.A.'s bankruptcy proceeding, verifies creditors' proofs of
claim until April 11, 2008.

Mr. Kopcow will present the validated claims in court as
individual reports on May 26, 2008.  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
determine if the verified claims are admissible, taking into
account the trustee's opinion, and the objections and challenges
that will be raised by Farma 10 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 Farma 10's accounting
and banking records will be submitted in court on July 8, 2008.

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

The trustee can be reached at:

         Bernardino Kopcow
         Lavalle 1527
         Buenos Aires, Argentina


MACCHI GROUP: Proofs of Claim Verification Ends on April 17
-----------------------------------------------------------
Fernando Altare, the court-appointed trustee for Macchi Grupo
Editor SA's bankruptcy proceeding, verifies creditors' proofs of
claim until April 17, 2008.

Mr. Altare 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. 27, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections
and challenges that 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 Macchi Grupo
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 Macchi Grupo's
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

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

The debtor can be reached at:

         Macchi Grupo Editor SA
         Avenida Cordoba 2015
         Buenos Aires, Argentina

The trustee can be reached at:

         Fernando Altare
         Piedras 153
         Buenos Aires, Argentina


MUTIENVASES SA: Proofs of Claim Verification is Until April 17
--------------------------------------------------------------
Nora Mabel Pszemiarower, the court-appointed trustee for
Multienvases S.A.'s bankruptcy proceeding, verifies creditors'
proofs of claim until April 17, 2008.

Ms. Pszemiarower will present the validated claims in court as
individual reports on May 30, 2008.  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
determine if the verified claims are admissible, taking into
account the trustee's opinion, and the objections and challenges
that will be raised by Multienvases 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 Multienvases'
accounting and banking records will be submitted in court on
July 15, 2008.

Ms. Pszemiarower is also in charge of administering
Multienvases' assets under court supervision and will take part
in their disposal to the extent established by law.

The trustee can be reached at:

         Nora Mabel Pszemiarower
         Avenida Corrientes 1257
         Buenos Aires, Argentina


NVIDIA CORPORATION: Completes Acquisition of AGEIA Technologies
---------------------------------------------------------------
NVIDIA has completed the acquisition of AGEIA Technologies Inc.
On Feb. 5, the company announced the signing of a definitive
agreement to acquire the privately-held, California-based AGEIA.

NVIDIA president and Chief Executive Officer, Jen-Hsun Huang
said that the collaboration will bring NVIDIA's GeForce(R)-
accelerated PhysX to millions of gamers around the world.

AGEIA's PhysX(R) software is widely adopted with more than 140
PhysX-based games shipping or in development on Sony Playstation
3, Microsoft XBOX 360, Nintendo Wii, and gaming PCs.  AGEIA
physics software is pervasive with over 10,000 registered and
active users of the PhysX SDK.

                           About NVIDIA

Headquartered in Santa Clara, California, NVIDIA Corp. (Nasdaq:
NVDA) -- http://www.nvidia.com/-- creates innovative, industry-
changing products for computing, consumer electronics, and
mobile devices.  The NVIDIA(R) graphics processing unit and
media and communications processor brands include NVIDIA
GeForce(R), NVIDIA GoForce(R), NVIDIA Quadro(R), and NVIDIA
nForce(R).  These product families are transforming visually-
rich applications such as video games, film production,
broadcasting, industrial design, space exploration, and medical
imaging.  The company has offices throughout Asia, Europe, and
the Americas including Brazil and Argentina.

                         *     *      *

As reported in the Troubled Company Reporter-Latin America on
Oct. 4, 2007, Standard & Poor's Ratings Services revised its
outlook on Nvidia Corp. to positive from stable, following
several quarters of strong operating performance despite the
acquisition of a key competitor by Advanced Micro Devices Inc.
The corporate credit rating is affirmed at 'BB-'.


NVDIA CORP: Fiscal 2008 Earnings Up 78% to US$797.6 Million
-----------------------------------------------------------
NVIDIA Corporation reported financial results for the fourth
quarter of fiscal 2008 and the fiscal year ended Jan. 27, 2008.

For the fourth quarter of fiscal 2008, revenue increased to a
record US$1.20 billion, compared to US$878.9 million for the
fourth quarter of fiscal 2007, an increase of 37%.  Net income
computed in accordance with United States generally accepted
accounting principles for the fourth quarter of fiscal 2008 was
US$257 million compared to net income of US$163.5 million for
the fourth quarter of fiscal 2007, a net income increase of 57%.

Non-GAAP net income for the fourth quarter of fiscal 2008, which
excludes stock-based compensation charges, a charge for in-
process research and development related to an acquisition
closed during the quarter, and the associated tax impact, was
US$292.6 million.

Annual revenue for the fiscal year ended Jan. 27, 2008, was a
record US$4.10 billion, compared to revenue of US$3.07 billion
for the fiscal year ended Jan. 28, 2007, an increase of 34%.
GAAP net income for the fiscal year ended Jan. 27, 2008, was
US$797.6 million compared to GAAP net income of US$448.8 million
for the fiscal year ended Jan. 28, 2007, a net income increase
of 78%.

Non-GAAP net income for the fiscal year ended Jan. 27, 2008,
which excludes stock-based compensation charges, a charge for
in-process research and development related to an acquisition
closed during the year, and the associated tax impact, was
US$919.3 million.

"Fiscal 2008 was another outstanding and record year for us.
Strong demand for GPUs in all market segments drove our growth.
Relative to Q4 one year ago, our discrete GPU business grew 80%.
Our growth reflects the ever-increasing use of rich graphics in
applications from Google Earth to Apple iTunes to online virtual
worlds," said NVIDIA president and Chief Executive Officer, Jen-
Hsun Huang.

Mr. Huang continued: "This is the era of visual computing. The
richness of the graphics is increasingly central to our
computing experience.  And at the core of that experience is the
GPU, the processor that defines the modern PC."

Fourth Quarter, Fiscal Year 2008, and Recent Highlights:

   -- Fourth Quarter revenue grew 37% year-over-year to a record
      US$1.20 billion.

   -- Annual revenue increased 34% year-over-year to a record
      US$4.10 billion.

   -- GAAP annual net income increased 78% year-over-year to a
      record US$797.6 million.

   -- GAAP annual gross margin reached a Company high of 45.6%,
      a year-over-year increase of 320 basis points.

   -- The company launched multiple industry-defining products
      and initiatives:

      * GeForce(R) 8800 graphics processing family, including
        the highly-acclaimed 8800GT

      * GeForce 7000 mGPU -- the first single-chip motherboard
        GPU for Intel systems

      * Tesla (TM) computing system -- the high performance
        computing industry's first C-programmable GPU

      * Hybrid SLI(R) technology -- the first hybrid technology
        for PC platforms

      * CUDA(TM) technology -- the first C-compiler for the GPU

      * PureVideo(R) HD technology -- the first video decode and
        post processing technology for Blu-ray and HD DVD

   -- NVIDIA(R) held #1 segment share in desktop and notebook
      GPU (Mercury Research PC Graphics 2008 Market Strategy and
      Forecast Report).

   -- The company held #1 segment share in workstation solutions
      (Jon Peddie Research third quarter 2007 Workstations and
      Professional Graphics Report).

   -- The company was named Most Respected Public Company by
      members of the Fabless Semiconductor Association for the
      second consecutive year.

   -- NVIDIA was named Forbes Company of the Year.

   -- The company acquired Mental Images, the industry's leading
      photorealistic rendering technology provider.  Mental
      Image's Mental Ray is the most pervasive ray tracing
      renderer in industry.

   -- In February, the company announced and completed the
      acquisition of AGEIA, the industry leader in gaming
      physics technology.

                        About NVIDIA Corp.

Headquartered in Santa Clara, California, NVIDIA Corp. (Nasdaq:
NVDA) -- http://www.nvidia.com/-- creates innovative, industry-
changing products for computing, consumer electronics, and
mobile devices.  The NVIDIA(R) graphics processing unit and
media and communications processor brands include NVIDIA
GeForce(R), NVIDIA GoForce(R), NVIDIA Quadro(R), and NVIDIA
nForce(R).  These product families are transforming visually-
rich applications such as video games, film production,
broadcasting, industrial design, space exploration, and medical
imaging.  The company has offices throughout Asia, Europe, and
the Americas including Brazil and Argentina.

                         *     *      *

As reported in the Troubled Company Reporter-Latin America on
Oct. 4, 2007, Standard & Poor's Ratings Services revised its
outlook on Nvidia Corp. to positive from stable, following
several quarters of strong operating performance despite the
acquisition of a key competitor by Advanced Micro Devices Inc.
The corporate credit rating is affirmed at 'BB-'.


SCHUCHNER SILVIO: Trustee Verifies Proofs of Claim Until April 4
----------------------------------------------------------------
Mario Daniel Krasnasky, the court-appointed trustee for
Schuchner Silvio Fabian's reorganization proceeding, will be
verifying creditors' proofs of claim until April 4, 2008.

Mr. Krasnasky will present the validated claims in court as
individual reports on May 19, 2008.  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 Schuchner Silvio 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 Schuchner Silvio's
accounting and banking records will be submitted in court on
July 1, 2008.

Creditors will vote to ratify the completed settlement plan
during the assembly on Dec. 23, 2008.

The trustee can be reached at:

        Mario Daniel Krasnasky
        Viamonte 1785
        Buenos Aires, Argentina


WR GRACE: Seeks Court OK to Extend DIP Facility Until April 2010
----------------------------------------------------------------
W.R. Grace Co. and its debtor-affiliates' US$250,000,000 DIP
Financing Facility with Bank of America, as administrative agent
for a syndicate of bank lenders, will expire on April 1, 2008.

Against this backdrop, the Debtors seek the United States
Bankruptcy Court District of Delaware's authority to:

   (1) extend the DIP Facility's termination date until the
       earlier of (i) the Debtors' emergence from Chapter 11, or
       (ii) April 1, 2010;

   (2) modify certain of the DIP Facility's covenants and other
       provisions to provide, among other things, that they need
       to maintain, at all times, cash and cash equivalents of
       not less than US$50,000,000 in the aggregate; and

   (3) pay US$2,012,500 to BofA for administrative agent fees,
       which amount will change depending on market conditions
       at the time of the final commitments by the DIP Lenders.

A full-text copy of the DIP Amendments is available for free
at: http://ResearchArchives.com/t/s?27fe

James E. O'Neill, Esq., at Pachulski Stang Ziehl & Jones, LLP,
in Wilmington, Delaware, relates that the Debtors and BofA have
agreed to extend the DIP Facility until May 31, 2008, if the
Court is unable to approve the DIP Amendments before April 1.
The Debtors will pay BofA a fee of not more than US$100,000 for
the Interim Extension.

As of January 31, 2008, approximately US$58,500,000 in letters
of credit issued pursuant to the DIP Facility remain
outstanding, Mr. O'Neill says.

Mr. O'Neill tells the Court that, after analyzing their options
for continuing their postpetition financing and reviewing recent
comparable transactions in the capital markets, the Debtors have
determined that the most cost-effective approach would be to
seek a further extension of the DIP Facility instead of seeking
a replacement postpetition financing facility.

The Debtors expect that ongoing fees and interest rates will be
at or below comparable market rates, Mr. O'Neill says.  He adds
that by extending the DIP Facility, the Debtors will avoid the
substantial expenses attendant with negotiating a new credit
agreement with a new agent and lenders.

The DIP Amendments, according to Mr. O'Neill, are intended to
ensure the Debtors' continued financial flexibility and a stable
environment while the Debtors work to conclude their Chapter 11
cases.  Specifically, the DIP Facility will:

   (a) continue to support general trade initiatives, as well as
       risk management and capital investment initiatives;

   (b) provide liquidity protection in the face of significant
       economic uncertainty;

   (c) support strategic business initiatives that are in the
       best interest of the Debtors and their shareholders; and

   (d) manage significant contingencies related to the Debtors'
       past and present operations.

Specific liquidity contingencies, according to Mr. O'Neill,
include:

   -- the likelihood of significant contributions to U.S.
      qualified pension plans to satisfy the funding
      requirements of the Employee Retirement Income Security
      Act;

   -- possible settlements of environmental, tax and other
      disputes as may be proposed by the Debtors and approved
      for funding by the Court and creditors in advance of a
      confirmed plan of reorganization; and

   -- attorneys' fees and expenses in connection with disputes,
      including civil and criminal litigation in Montana and New
      Jersey.

                       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).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
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, and Duane Morris, LLP, represent
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.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and
Marla R. Eskin, Esq., at Campbell & Levine, LLC, represent the
Official Committee of Asbestos Personal Injury Claimants.  The
Asbestos Committee of Property Damage Claimants tapped Scott
Baena, Esq., and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena
Price & Axelrod, LLP, to represent it.  Thomas Moers Mayer,
Esq., at Kramer Levin Naftalis & Frankel, LLP, represents 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.

Estimation of W.R. Grace's asbestos personal injury liabilities
commenced on January 14, 2008.

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.
As of Nov. 30, 2007, W.R. Grace's balance sheet showed total
assets of US$3,335,000,000, and total debts of US$3,712,000,000.
(W.R. Grace Bankruptcy News, Issue No. 151; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


WR GRACE: Asbestos Claims Estimation Trial to Resume March 24
-------------------------------------------------------------
The Honorable Judith Fitzgerald of United States Bankruptcy
Court District of Delaware will resume the asbestos personal
injury claims estimation trial on March 24, 2008.  The trial is
expected to conclude in May.

W.R. Grace & Co. and its debtor-affiliates, and the Official
Committee of Asbestos Personal Injury Claimants filed separate
and opposing briefs regarding the admissibility of personal
injury questionnaires and proofs of claim as evidence at the
estimation trial.

The Debtors' counsel, David M. Bernick, P.C., Esq., at Kirkland
& Ellis, LLP, in Chicago, Illinois, maintains that the PI
Questionnaires and the proofs of claim should be admitted into
evidence during the estimation trial for three reasons:

   (1) Claims estimation is a "contested matter" under Rule 9014
       of the Federal Rules of Bankruptcy Procedure.  As a
       contested matter, the PI Claims estimation is not a
       separate proceeding, but part of the Debtors' Chapter 11
       cases.

   (2) Every party who has filed a proof of claim against the
       Debtors is a party to the Debtors' bankruptcy cases.
       Because the PI Claimants have filed claims against the
       Debtors, they are parties to the Debtors' bankruptcy
       cases.  And because they are parties to the Debtors'
       bankruptcy cases, the PI Claimants are parties to the PI
       estimation.

   (3) The PI Questionnaires were served on the claimants as
       discovery in connection with the estimation proceedings.
       The Questionnaires are a hybrid form of discovery: part
       fact interrogatory, part contention interrogatory, part
       document request, and part deposition by written
       question.

The PI Committee, on the other hand, insists that the Court
should not accept as evidence the PI Questionnaires and the
proof of claim responses.

The PI Committee's counsel, Elihu Inselbuch, Esq., at Caplin &
Drysdale, Chartered, in New York, asserts that the estimation
proceedings is a contested matter within the Debtors' Chapter 11
cases, which is being conducted solely for confirmation of a
plan of reorganization, involving only the parties who have
filed one of the two competing reorganization plans filed in the
Debtors' bankruptcy cases.

Because the Debtors' reorganization plan purports to "cap" their
total asbestos liability, an estimate of their aggregate
liability for pending and future asbestos claims may be relevant
to determine whether any non-consensual reorganization plan
meets the requirements of Sections 524(g)(4)(B)(ii) and 1129(b)
of the Bankruptcy Code, Mr. Inselbuch contends.

Mr. Inselbuch adds that the only parties to the estimation
proceeding are the Debtors, the PI Committee, the Future Claims
Representative and the other official committees, pursuant to
(i) the procedural route the Debtors have undertaken in seeking
an estimate of their aggregate asbestos liability rather than an
individual claims allowance process, and (ii) the terms of the
case management order, which govern the estimation hearing.

The sole purpose of the estimation proceeding is to determine
the Debtors' aggregate liability for pending and future asbestos
PI claims, and not to estimate those claims for purposes of
individual allowance or disallowance, Mr. Inselbuch maintains.

Mr. Inselbuch asserts that the mere filing of a proof of claim
of a creditor does not make that creditor a party to each and
every contested matter in the Debtors' bankruptcy case.

               Futures Rep Says Stallard Doc Valid

David T. Austern, the Court-appointed Future Claims
Representative, tells the Court that the issues raised in the
declarations of P.J. Eric Stallard have been presented in open
court during the January 2008 estimation hearings.  The Futures
Representative wants the Debtors' request to strike the
declaration denied.

The FCR relates that Prof. Stallard's declarations establish
that, as a matter of science, it is not appropriate to assign to
individual workers a cumulative lifetime asbestos exposure that
is equal to the average lifetime asbestos exposure for all
workers within the Debtors' defined occupational categories.

The FCR asserts that Prof. Stallard's Declarations does not
violate any case management order regarding the estimation
proceedings.

                       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).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
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, and Duane Morris, LLP, represent
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.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and
Marla R. Eskin, Esq., at Campbell & Levine, LLC, represent the
Official Committee of Asbestos Personal Injury Claimants.  The
Asbestos Committee of Property Damage Claimants tapped Scott
Baena, Esq., and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena
Price & Axelrod, LLP, to represent it.  Thomas Moers Mayer,
Esq., at Kramer Levin Naftalis & Frankel, LLP, represents 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.

Estimation of W.R. Grace's asbestos personal injury liabilities
commenced on January 14, 2008.

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.
As of Nov. 30, 2007, W.R. Grace's balance sheet showed total
assets of US$3,335,000,000, and total debts of US$3,712,000,000.
(W.R. Grace Bankruptcy News, Issue No. 151; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


WR GRACE: Wants to Contribute US$17 Million to Pension Plan
-----------------------------------------------------------
W.R. Grace Co. and its debtor-affiliates seek the United States
Bankruptcy Court District of Delaware's authority to contribute
US$17,823,645 to their defined benefit retirement plans covering
their employees in the United States.

The contributions are due April 15, 2008, and are necessary to
assure compliance with the minimum funding requirements under
applicable federal law, James E. O'Neill, Esq., at Pachulski
Stang Ziehl & Jones, LLP, in Wilmington, Delaware, says.

The Court has previously authorized the Debtors to contribute
approximately US$284,800,000 to the Retirement Plans:

         Date                  Contribution
         ----                  ------------
         2003                 US$48,500,000
         2004                    20,000,000
         2005                    24,100,000
         2006                   101,400,000
         2007                    76,000,000
         Jan. 2008               14,800,000
                               ------------
         Total               US$284,800,000
                               ============

Mr. O'Neill relates that under applicable law, the total of the
required quarterly minimum contributions for the 2008 plan year
due on April 15, 2008, must be the lesser of (a) 25% of the
total 2007 minimum contributions, or (b) the quarterly minimum
amount calculated specifically for the 2008 plan year, which
will be included in the Debtors' actuarial report for 2008.

The actuarial report, however, is not yet complete as of
Feb. 11, 2008, according to Mr. O'Neill.  The Debtors and their
actuaries anticipate the 2008 actuarial report to be finalized
in April 2008.  If the report is not finalized within a
reasonable time before April 15, the April 2008 Contribution
will be approximately US$17,823,645.

Any portion of the US$17,823,645 Contribution that is greater
than the actual 2008 Retirement Plan year quarterly minimum
contributions, as eventually specified in the final 2008
actuarial report, will be used to offset subsequent required
minimum contributions, Mr. O'Neill tells the Court.

After the 2008 actuarial report is finalized, the Debtors tell
the Court that they intend to submit another request for
permission to make required contributions for the remainder of
2008 and early 2009.

The Debtors contend that continuing to make at least the legally
required minimum contributions to each of the Grace Retirement
Plans is essential to maintaining the morale of their workforce
and the workforce' confidence in management.

                       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).
David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and
Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP,
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, and Duane Morris, LLP, represent
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.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and
Marla R. Eskin, Esq., at Campbell & Levine, LLC, represent the
Official Committee of Asbestos Personal Injury Claimants.  The
Asbestos Committee of Property Damage Claimants tapped Scott
Baena, Esq., and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena
Price & Axelrod, LLP, to represent it.  Thomas Moers Mayer,
Esq., at Kramer Levin Naftalis & Frankel, LLP, represents 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.

Estimation of W.R. Grace's asbestos personal injury liabilities
commenced on January 14, 2008.

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.
As of Nov. 30, 2007, W.R. Grace's balance sheet showed total
assets of US$3,335,000,000, and total debts of US$3,712,000,000.
(W.R. Grace Bankruptcy News, Issue No. 151; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)



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

HARRAH'S ENT: Bally to Provide Casino Management System
-------------------------------------------------------
Bally Technologies Inc. has extended its domestic relationship
with Harrah's Entertainment Inc. to provide key casino slot and
gaming management and marketing systems for Harrah's
international operations.

The transaction is subject to Harrah's corporate approvals,
execution of definitive agreements, and receipt of required
regulatory approvals.

Bally and Harrah's commitment to work together internationally
comes on the heels of Bally's recent announcement that it
continues to bolster its international product portfolio and
infrastructure.  Bally is developing more games and systems
technology specifically for international markets and has
recently opened new sales and support offices in Spain and South
Africa, with a Mexico City office slated to open this spring.

"We're pleased to be extending our relationship with Bally
Technologies as we pursue an aggressive global growth strategy,"
said Harrah's Entertainment Chief Information Officer and Senior
Vice President of Innovation & Gaming, Tim Stanley.  "Bally has
been a provider of choice in supplying the operational,
accounting and management systems that support our industry-
leading Total Rewards(TM) capabilities that enhance our guests'
experience through interactive entertainment offerings.  Under
this new agreement, Bally will also become a key software
supplier for our casino and gaming management systems at our
current and planned international operations."

Bally also announced that Harrah's has licensed Bally Power
Winners(TM) and Power Promotions(TM) technologies for use as
part of Harrah's new and proprietary PRISM interactive customer
relationship management initiative.  Under the licensing
agreement, which is also subject to Harrah's corporate
approvals, execution of definitive agreements, and receipt of
regulatory approvals,  Harrah's can implement Bally's new
promotional and downloadable credit features as an integral part
of Harrah's Total Rewards(TM) marketing programs worldwide.

Harrah's PRISM initiative, an acronym for Personalized Real-time
Interactive Slot Marketing, is designed to introduce unique CRM
features and capabilities to the millions of Harrah's Total
Rewards cardholders who play the company's 60,000-plus slots.

"We are very excited about extending our partnership with
Harrah's to supply these system products internationally and
cutting-edge promotional and downloadable credit features
worldwide," said Bally Technologies Chief Executive Officer,
Richard M. Haddrill.  "The flexibility and configuration options
built into our products will allow Harrah's to build on the
existing strength of its player-loyalty program and manage their
business both domestically and globally."

                   About Bally Technologies Inc.

Headquartered in Las Vegas, Nevada, Bally Technologies, Inc.
(NYSE: BYI) -- http://www.BallyTech.com/-- designs,
manufactures, operates, and distributes advanced gaming devices,
systems, and technology solutions worldwide.  Bally's product
line includes reel-spinning slot machines, video slots, wide-
area progressives and Class II lottery and central determination
games and platforms.  Bally Technologies also offers an array of
casino management, slot accounting, bonus, cashless, and table
management solutions.  The company also owns and operates
Rainbow Casino in Vicksburg, Mississippi.  The company's South
American operations are located in Argentina.  The company also
has operations in France, Germany, Macau, China, India, and the
United Kingdom.

                   About Harrah's Entertainment

Headquartered in Las Vegas, Nevada, Harrah's Entertainment Inc.
(NYSE: HET) -- http://www.harrahs.com/-- through its wholly
owned subsidiary Harrah's Operating Company Inc., provides
branded casino entertainment.  Since its beginning in Reno,
Nevada 70 years ago, Harrah's has grown through development of
new properties, expansions and acquisitions, and now owns or
manages casinos on four continents.  The company's properties
operate primarily under the Harrah's(R), Caesars(R) and
Horseshoe(R) brand names; Harrah's also owns the London Clubs
International family of casinos.  In January 2007, it signed a
joint venture agreement with Baha Mar Resorts Ltd. to operate a
resort in Bahamas.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
Jan. 17, 2008, Moody's Investor Service assigned a B2 Corporate
FamilyRating and Speculative Grade Liquidity Rating of SGL-3 to
Harrah's Entertainment Inc.  Moody's also assigned ratings to
the these new debt to be issued by Harrah's Operating Company
Inc.: senior secured guaranteed bank revolving credit facility
at Ba2, senior secured guaranteed term loans at Ba2, and senior
unsecured guaranteed notes at B3.


METROPOLITAN BANK: Top Trust Fund Manager, Says Watson Wyatt
------------------------------------------------------------
Metropolitan Bank & Trust Company emerged as the country's top
Trust Fund Manager in the latest survey conducted by independent
consulting firm Watson Wyatt Worldwide.

Results of the 88th Survey on Investment Performance of
Retirement Funds in the Philippines show that Metrobank bested
eight other banks in the All Trusteed Funds category with the
highest performance of 23.90% p.a. for the year ended
Dec. 31, 2006.  The bank's fourth quarter performance was even
higher at 39.80% p.a.  The survey, which was released in January
2008, is the latest conducted by Watson Wyatt to date.  It
covered the performance of retirement funds handled by 11 banks
and one investment house.

The results of the survey were based on financial reports that
adopted Philippine Accounting Standards.  According to the
Watson Wyatt report, this allowed for a consistent comparison of
the returns of the funds.  The PAS was adopted by most
Philippine corporations beginning 2005 in compliance with the
new International Accounting Standards.

"The survey validates one of the key strengths of our Trust
Banking business, which is our expertise in fund management,"
said Metrobank executive vice president and Trust Banking Group
head Josefina E. Sulit.

This is the fourth time in five years that the bank has figured
in the top three spot.  At least five funds are handled by
investment managers in this category.  The combined plan assets
of all 160 funds from 122 companies surveyed amounted
PHP39.34 billion for an average fund size of P245.90 million.

In the same survey, Metrobank recorded an 18.86% p.a. return in
the Trusteed Funds with Full Discretion category.  In this
class, Metrobank turned in a 32.04% p.a. performance in the
fourth quarter, maintaining its consistent top three ranking for
the period studied.

"These results highlight our consistency in providing superior
returns for our clients," Sulit added.  Metrobank's Investment
Funds also came out as top performers in 2007 as reflected in
the December 28, 2007 industry-wide historical performance of
investment funds tracked in the UITF website
http://www.uitf.com.ph This is a UITF Resource Center sponsored
by the members of the Trust Officers Association of the
Philippines.  Metrobank's MetroFund Starter and MetroDollar
Philippine Liquid Fund bested other funds in their respective
classes with year-on-year performances of 4.475% and 5.718%,
respectively.  Its balanced fund, MetroCapital Growth Fund
placed second at 15.109%.  As of December 31, 2007, Metrobank's
total Assets Under Management stood at PHP141.82 billion.

Metropolitan Bank and Trust Company --
http://www.metrobank.com.ph/-- is the flagship company of the
Metrobank Group.  Metrobank provides a host of deposit, savings,
and loan products as well as electronic banking services like
Internet banking, mobile banking, and phone banking, as well as
its huge ATM network.  Metrobank is also the leading provider of
trade finance in the Philippines, and its overseas branch
network has enabled it to service the fund remittances of
Filipino overseas contract workers.

The bank has 583 local branches and 35 international branches
and offices located in Taiwan, China, Japan, Korea, Guam, United
States, Hong Kong, Singapore, Bahamas, and in Europe.

                          *     *     *

The bank carries Moody's Investors Service's B1 foreign currency
long-term deposit rating, Ba3 foreign currency hybrid tier-1
rating and a foreign currency subordinated debt rating of Ba2.

On Sept. 21, 2006, Fitch Ratings upgraded Metrobank's Individual
rating to 'D' from 'D/E'.  All the bank's other ratings were
affirmed: Long-term Issuer Default rating 'BB-' with a stable
Outlook; Short-term rating 'B'; and Support rating '3.

On March 3, 2006, Standard and Poor's Rating Service assigned a
CCC+ rating on Metrobank's US$125-million non-cumulative capital
securities.


PINNACLE ENT: Rouge Parish Voters OK US$250 Mil. Riviere Dev't
--------------------------------------------------------------
Pinnacle Entertainment Inc. disclosed that voters in East Baton
Rouge Parish approved the development and construction of
Riviere, the company's US$250 million gaming entertainment
complex that will be built on more than 550 acres the company
owns in Baton Rouge, Louisiana.  The project requires adherence
to certain conditions imposed by the Louisiana Gaming Control
Board, which approved Pinnacle's plans for Riviere in September
2007.

The project, designed to be built in phases, features a gaming
resort.  The first phase includes a state-of-the-art casino with
approximately 1,500 slot machines and 50 table games.  An
adjoining hotel will offer visitors an atmosphere of casual
elegance and comfort.  Several of the restaurants will be
located above the casino and will take advantage of the site's
views of the Mississippi River.  An entertainment venue will
host an array of entertainment, live music and other exciting
attractions.

Future planned phases of Riviere include a residential community
and additional hotel rooms.  Planned recreation and leisure
amenities include a full-service spa and health club; tennis
club; equestrian center and riding trails; and a championship
golf course, with the historic Longwood mansion serving as its
clubhouse.

"We're extremely grateful to the people of Baton Rouge, who are
allowing us to become a part of one of the most exciting and
fastest-growing cities in the South," Daniel R. Lee, Pinnacle
Entertainment's chairman and chief executive officer, said.  "We
plan to generate 1,200 direct permanent jobs in Phase One alone,
along with millions of dollars per year in incremental tax
revenues for the State and Parishes of Louisiana.

"Our next steps will be to work with local and regional
officials on a development agreement, and to move forward on
other aspects of zoning, design, planning and safety," Mr. Lee
added.  "I would like to thank the voters of East Baton Rouge
for the confidence that they have placed in us.  "We look
forward to creating a unique entertainment experience that will
make all citizens of Baton Rouge proud."

                   About Pinnacle Entertainment

Headquartered in Las Vegas, Nevada, Pinnacle Entertainment Inc.
(NYSE: PNK) -- http://www.pnkinc.com/-- owns and operates
casinos in Nevada, Louisiana, Indiana, Missouri, Argentina and
the Bahamas.  The company also owns a hotel in Missouri.

                          *     *     *

Pinnacle Entertainment Inc. continues to carry Fitch's 'B' long-
term issuer default rating which was assigned in March 2007.



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B E R M U D A
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MAGELLAN INSURANCE: Proofs of Claim Filing Ends on February 20
--------------------------------------------------------------
Magellan Insurance Company Ltd.'s creditors are given until
Feb. 20, 2008, to prove their claims to Jon W. Yoskin, II, 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.

Magellan Insurance' shareholder decided on Feb. 1, 2008, to
place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidator can be reached at:

         Jon W. Yoskin, II
         Conyers Dill & Pearman, Liquidation Department
         Clarendon House, Church Street
         Hamilton, HM DX, B