T R O U B L E D C O M P A N Y R E P O R T E R
A S I A P A C I F I C
Monday, November 19, 2007, Vol. 10, No. 229
Headlines
A U S T R A L I A
ACXIOM CORP: Charles Morgan Quits from Board of Directors
ADVANCED MARKETING: Publishers Group Files Report for May 2007
ADVANCED MARKETING: Publishers Group Files Report for June 2007
ADVANCED MARKETING: Publishers Group Files Report for July 2007
ADVANCED MARKETING: Publishers Group Files Report for Aug. 2007
ADVANCED MARKETING: Publishers Group Files Report for Sept. 2007
BERRYMAN FURNITURE: Joint Meeting Slated for November 23
BREMORE ENGINEERING: Members and Creditors Hear Wind-Up Report
CHRYSLER LLC: Plans to Offer Rebates in December
CONSTELLATION BRANDS: Fortune Deal Cues Fitch to Hold Ratings
FINCORP FINANCIAL: Will Declare Final Dividend on November 21
FINCORP SOUTH: To Declare Final Dividend on November 28
FORD CREDIT: Moody's Changes Rating Outlook to Stable
FORTESCUE METALS: Discovers 1 Billion Ton Iron Ore Deposit
H COOMBE: Members Receive Wind-Up Report
MEGA BRANDS: Moody's May Cut Low-B Ratings After Review
MOBIUS NCM-03: S&P Affirms Low-B Ratings of Class D & E Notes
NEWMONT VIETNAM: Liquidator Gives Report on Wind-up Proceeding
PEABODY ENERGY: Fitch Affirms Issuer Default Rating at BB+
PROTEL COMMUNICATIONS: Members Agree on Voluntary Liquidation
REALOGY CORP: Hires Richard Smith as Chief Executive Officer
SCO GROUP: Earns US$1,608 in Period Ended September 15-30, 2007
SCO GROUP: SCO Operations Posts US$731,158 Net Loss in Sept. 07
SMARTRYD PTY: Members Agree on Voluntary Liquidation Proceedings
SYMBION HEALTH: Answers Primary's Criticisms of Healthscope Bid
WERNER HOLDINGS: Liquidators Present Wind-Up Report
WARATAH CONTRACTING: Members Agree on Voluntary Liquidation
C H I N A & H O N G K O N G
CYBER IMAGING LTD: Commences Liquidation Proceedings
DEGUSSA PACIFIC: Commences Liquidation Proceedings
DISTACOM HONG KONG: Liquidator Quits Post
FERRO CORP: Forms Electronic Packaging Materials Unit
HOTEL TYCOON: Appoints Chan Kin Hang as Liquidator
ISA INTERNATIONAL: Proofs of Debt Due on December 9
MATTEL CHINA: Liquidator Quits Post
REXEL SA: In Exclusive Talks to Buy Hagemeyer for EUR3.1 Billion
REXEL SA: Exclusive Takeover Talks Cue Fitch to Watch BB IDR
SHIMAO PROPERTY: To Spin Off Hotel Business for IPO by 2010
TYSON FOODS: Outlines International Expansion Plans
TYSON FOODS: Earns US$32 Million in Fourth Qtr. Ended Sept. 30
I N D I A
AGILENT TECHNOLOGIES: Inks Merger Agreement with Velocity11
ARTSON ENGINEERING: Posts INR6MM Profit in Qtr. Ended Sept. 30
BUNGE LTD: Closes Cumulative Preference Shares Sale for US$110MM
CABLE & WIRELESS: Loses More Than US$100 Mil. from Cable Theft
GUJARAT SIDHEE: Profit Down 51% in Qtr. Ended Sept. 30, 2007
I N D O N E S I A
ADARO INDONESIA: May Seek US$750-Million Loan to Repay Bonds
CA INC: Signs Strategic Deal with HCL Technologies
COMVERSE TECH: Andre Dahan Assumes CEO Role for Subsidiary
HILTON HOTELS: Inks Management Agreement with Desatur Cariari
PT INCO: Workers Ask for Additional Compensations
PERUSAHAAN LISTRIK: Gov't No Plans for Dividend Increase
PERUSAHAAN LISTRIK: Seeks US$1.5-BB Loan to Meet Energy Need
J A P A N
ATARI INC: Eyes Publishing & Distribution in North America
ATARI INC: Streamlines Operations, Establishes Business Plan
COREL CORP: S&P Revises Outlook; Affirms B Corp. Credit Rating
DELPHI CORP: To Receive Labor Payments from GM Through 2015
FORD MOTOR: Moody's Changes Rating Outlook to Stable
KRATON POLYMERS: Incurs US$754,000 Net Loss in Third Quarter
MEAT HOPE: Ex-President Indicted Over Mislabeling Charges
NOVA CORP: G.communication Opens First School Under Nova Name
SANYO ELECTRIC: To Merge Fuel-Cell Business with Nippon Oil
SENSIENT TECHNOLOGIES: Officer Adopts Rule 10b5-1 Trading Plan
SOFTBANK CORP: To Set Up Joint Venture with Alibaba.com
* Fitch Say Japanese Refineries to be Boosted by Export Growth
K O R E A
CLOROX CO: Board Declares 40 Cents Per Share Quarterly Dividend
EUGENE SCIENCE: Updates Shareholders on Growth Strategy Progress
KENERTEC CO: Wins Exclusive Mining Rights in Cambodia
M A L A Y S I A
SOLUTIA INC: CPFilms Closes US$6.95MM Buy of Acquired Technology
N E W Z E A L A N D
BELLBIRD INTERNATIONAL: Court to Hear Wind-Up Petition Today
ENERMAX LTD: Subject to Bondor's Wind-Up Petition
HOME IMPROVEMENTS: Creditors' Proofs of Debt Due Today
KEL GEDDES: Taps G. Sargison and G. Rea as Liquidators
LUKE HOLDINGS: Commences Voluntary Liquidation Proceedings
PARKWAY PROPERTIES: Appoints Meltzer and Mason as Liquidators
PAUANUI PROPERTIES: Court to Hear Wind-Up Petition on Nov. 22
PLUS SMS: Unit's Net Loss Down 50% in First Half of 2007
PLUS SMS: CRE8 Forms Alliance With Mobile Gaming Solutions
SEALEGS INTERNATIONAL: Receives Initial Malaysian Gov't Order
SRD CONSULTANTS: Fixes Dec. 5 as Last Day to File Proofs of Debt
SUPREME ACCOMMODATION: Wind-Up Petition Hearing Set for Nov. 26
WOOLTECH INDUSTRIES: Shareholders Decide to Wind Up Operations
P H I L I P P I N E S
MIRANT CORP: Mirant Lovett Files September 2007 Operating Report
S I N G A P O R E
ATOP HOLDINGS: Court to Hear Wind-Up Petition on Nov. 30
FREESCALE SEMI: Joins SPIRIT Consortium Board of Directors
KIM HUAT: Wind-Up Hearing Set for Nov. 23
RED HAT: Teams Up with Platform Computing to Offer HPC Solution
SILKROUTE VENTURES: Sets Dec. 16 Claims Bar Date
T H A I L A N D
ARVINMERITOR INC: Declares US$0.10 Quarterly Dividend
ARVINMERITOR INC: Posts US$62 Million Net Loss in Fourth Quarter
- - - - - - - -
=================
A U S T R A L I A
=================
ACXIOM CORP: Charles Morgan Quits from Board of Directors
---------------------------------------------------------
Acxiom(R) Corporation announced that Charles Morgan has retired,
effective immediately, from the board and as company leader.
Mr. Morgan has entered into a transition agreement with the
company and has agreed to serve as interim company leader until
his successor is selected. In addition, Mr. Morgan has agreed
to serve as a consultant to the company for up to three years,
focusing on technology and innovation.
The company also announced that its board of directors has
elected Michael J. Durham to serve as the non-executive chairman
of the board of directors. Mr. Durham has been a member of
Acxiom's board since March 2006. He formerly served as a
director, president and chief executive officer of Sabre, Inc.
"The Board would like to thank Charles for his many years of
service to the company and its board," Mr. Durham said.
"Charles has played an important role in the company's growth
and its history as an industry leader for more than three
decades. Looking forward, our board and company remain
committed to building a profitable, growth-oriented future for
our shareholders, clients and associates. The board's principal
focus right now is the recruitment of a world-class chief
executive to lead Acxiom."
"Acxiom has been and remains an industry leader in delivering
innovative customer information solutions that help our clients
be more successful," Mr. Morgan said. "I have enjoyed the
opportunity to lead our company and I am committed to helping
the board and company extend Acxiom's leadership position in the
future."
The company also announced that its board of directors has
nominated Kevin M. Twomey for election to the board. Mr. Twomey
has served in various senior executive positions, including
president of The St. Joe Company from 1999 until his retirement
in 2006. Mr. Twomey currently serves as a member of the board
of directors of PartnerRe Ltd. If elected by Acxiom's
shareholders at the annual meeting Dec. 21, 2007, Mr. Twomey
will fill the board seat that has been held by Rodger Kline
since 1975. Mr. Kline will continue to serve as chief
administrative leader.
"Rodger Kline has made a substantial contribution to the Acxiom
board throughout his 32 years as a director," Mr. Durham said.
"He has been a dedicated advocate for the company's
shareholders, clients and associates."
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 on Oct. 3, 2007,
Standard & Poor's Ratings Services said its 'BB' corporate
credit rating on Little Rock, Arkansas-based Acxiom Corp.
remains on CreditWatch with negative implications, where it was
placed on May 17, 2007. At the same time, S&P also placed the
'BB' senior secured debt ratings on CreditWatch with negative
implications, because the debt will no longer be refinanced as
part of the LBO financing.
ADVANCED MARKETING: Publishers Group Files Report for May 2007
--------------------------------------------------------------
Publishers Group West Incorporated
Statement of Cash Flows
May 1 to 25, 2007
CASH RECEIPTS
Accounts Receivable US$7,419,793
Perseus - payments for post-petition returns -
Perseus - reimbursement for customer deductions 169,668
Perseus - Transition service reimb (PGW costs) -
Perseus - Transition service reimb (AMS costs) -
Perseus - Retention plan reimbursement -
Interest Income 29,248
Other -
----------
Total Cash Receipts 7,618,709
----------
INVENTORY DISBURSEMENTS
Publishers - Wires -
Publishers - Checks -
----------
Total Inventory Disbursements -
----------
OPERATING DISBURSEMENTS
Total Payroll (incl. taxes) 527,035
Employee retention plan -
Temp/contract labor 64,759
Health Insurance -
Insurance -
Rent-facilities 62,557
Freight 252,232
Shipping supplies -
Utilities 17,026
IT Expenses 16,077
Travel 67,770
Professional fees -
Office equipment & supplies 38,340
Communications 16,003
Warehouse equipment -
Directors' fees -
Misc 158,930
Post-petition A/P -
----------
Total Operating Disbursements 1,220,729
----------
Total Disbursements 1,220,729
----------
Net Operating Cash Inflow 6,397,980
----------
INTERCOMPANY TRANSFERS
PGW Rcpts. Swept to AMS -
AMS to/(from) PGW -
Reimbursement to AMS -
----------
Total I/C Transfers -
----------
Net Cash Inflow US$6,397,980
==========
Based in San Diego, Calif., Advanced Marketing Services, Inc. --
http://www.advmkt.com/-- provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry. The company has operations in
the U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.
The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482). Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel. Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors. In schedules filed with the Court,
Advanced Marketing disclosed total assets of $213,384,791 and
total debts of US$216,608,357. Publishers Group West disclosed
total assets of US$39,699,451 and total debts of US$83,272,493.
Publishers Group Inc. disclosed zero assets but US$41,514,348 in
liabilities.
On Aug. 24, 2007, the Debtors' exclusive period to file a
chapter 11 plan expired. On the same date, the Debtors and
Creditors Committee filed a Plan & Disclosure Statement. On
September 26, the Court approved the adequacy of the Disclosure
Statement explaining the Second Amended Plan. The Court
confirmed that Plan on Nov. 15, 2007.
(Advanced Marketing Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000).
ADVANCED MARKETING: Publishers Group Files Report for June 2007
---------------------------------------------------------------
Publishers Group West Incorporated
Statement of Cash Flows
June 1 to 29, 2007
CASH RECEIPTS
Accounts Receivable US$9,733,712
Perseus - payments for post-petition returns -
Perseus - reimbursement for customer deductions -
Perseus - Transition service reimb (PGW costs) -
Perseus - Transition service reimb (AMS costs) -
Perseus - Retention plan reimbursement -
Interest Income 78,759
Other 815
----------
Total Cash Receipts 9,813,286
----------
INVENTORY DISBURSEMENTS
Publishers - Wires -
Publishers - Checks -
----------
Total Inventory Disbursements -
----------
OPERATING DISBURSEMENTS
Total Payroll (incl. taxes) 481,990
Employee retention plan -
Temp/contract labor 101,024
Health Insurance -
Insurance -
Rent-facilities 14,928
Freight 85,126
Shipping supplies 3,279
Utilities 2,218
IT Expenses 3,563
Travel 46,453
Professional fees -
Office equipment & supplies 5,551
Communications 6,577
Warehouse equipment -
Directors' fees -
Misc 130,966
Post-petition A/P -
----------
Total Operating Disbursements 881,675
----------
Total Disbursements 881,675
----------
Net Operating Cash Inflow 8,931,611
----------
INTERCOMPANY TRANSFERS
PGW Rcpts. Swept to AMS -
AMS to/(from) PGW -
Reimbursement to AMS -
----------
Total I/C Transfers -
----------
Net Cash Inflow US$8,931,611
==========
Based in San Diego, Calif., Advanced Marketing Services, Inc. --
http://www.advmkt.com/--provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry. The company has operations in
the U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.
The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482). Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel. Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors. In schedules filed with the Court,
Advanced Marketing disclosed total assets of US$213,384,791 and
total debts of US$216,608,357. Publishers Group West disclosed
total assets of US$39,699,451 and total debts of US$83,272,493.
Publishers Group Inc. disclosed zero assets but US$41,514,348 in
liabilities.
On Aug. 24, 2007, the Debtors' exclusive period to file a
chapter 11 plan expired. On the same date, the Debtors and
Creditors Committee filed a Plan & Disclosure Statement. On
September 26, the Court approved the adequacy of the Disclosure
Statement explaining the Second Amended Plan. The Court
confirmed that Plan on Nov. 15, 2007.
(Advanced Marketing Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000).
ADVANCED MARKETING: Publishers Group Files Report for July 2007
---------------------------------------------------------------
Publishers Group West Incorporated
Statement of Cash Flows
July 1 to 27, 2007
CASH RECEIPTS
Accounts Receivable US$491,540
Perseus - payments for post-petition returns -
Perseus - reimbursement for customer deductions -
Perseus - Transition service reimb (PGW costs) -
Perseus - Transition service reimb (AMS costs) -
Perseus - Retention plan reimbursement -
Interest Income 104,796
Other 249,473
----------
Total Cash Receipts 845,809
----------
INVENTORY DISBURSEMENTS
Publishers - Wires -
Publishers - Checks -
----------
Total Inventory Disbursements -
----------
OPERATING DISBURSEMENTS
Total Payroll (incl. taxes) 990,724
Employee retention plan 109,581
Temp/contract labor 48,870
Health Insurance -
Insurance -
Rent-facilities 88,202
Freight 311,349
Shipping supplies -
Utilities 3,747
IT Expenses 1,012
Travel 49,391
Professional fees -
Office equipment & supplies 5,024
Communications 2,322
Warehouse equipment -
Directors' fees -
Misc 58,763
Post-petition A/P -
----------
Total Operating Disbursements 1,668,985
----------
Total Disbursements 1,668,985
----------
Net Operating Cash Inflow (823,176)
----------
INTERCOMPANY TRANSFERS
PGW Rcpts. Swept to AMS -
AMS to/(from) PGW -
Reimbursement to AMS -
----------
Total I/C Transfers -
----------
Net Cash Inflow (Outflow) (US$823,176)
==========
Based in San Diego, Calif., Advanced Marketing Services, Inc. --
http://www.advmkt.com/--provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry. The company has operations in
the U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.
The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482). Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel. Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors. In schedules filed with the Court,
Advanced Marketing disclosed total assets of US$213,384,791 and
total debts of US$216,608,357. Publishers Group West disclosed
total assets of US$39,699,451 and total debts of US$83,272,493.
Publishers Group Inc. disclosed zero assets but US$41,514,348 in
liabilities.
On Aug. 24, 2007, the Debtors' exclusive period to file a
chapter 11 plan expired. On the same date, the Debtors and
Creditors Committee filed a Plan & Disclosure Statement. On
September 26, the Court approved the adequacy of the Disclosure
Statement explaining the Second Amended Plan. The Court
confirmed that Plan on Nov. 15, 2007.
(Advanced Marketing Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000).
ADVANCED MARKETING: Publishers Group Files Report for Aug. 2007
---------------------------------------------------------------
Publishers Group West Incorporated
Statement of Cash Flows
August 1 to 31, 2007
CASH RECEIPTS
Accounts Receivable US$1,160,116
Perseus - payments for post-petition returns 17,452
Perseus - reimbursement for customer deductions -
Perseus - Transition service reimb (PGW costs) -
Perseus - Transition service reimb (AMS costs) -
Perseus - Retention plan reimbursement -
Interest Income 223,329
Other -
----------
Total Cash Receipts 1,400,897
----------
INVENTORY DISBURSEMENTS
Publishers - Wires -
Publishers - Checks -
----------
Total Inventory Disbursements -
----------
OPERATING DISBURSEMENTS
Total Payroll (incl. taxes) 139,454
Employee retention plan -
Temp/contract labor 66,306
Health Insurance -
Insurance -
Rent-facilities 34,778
Freight 159,081
Shipping supplies -
Utilities -
IT Expenses 460
Travel 28,499
Professional fees -
Office equipment & supplies 9,736
Communications 6,736
Warehouse equipment -
Directors' fees -
Misc 138,928
Post-petition A/P -
----------
Total Operating Disbursements 583,978
----------
Total Disbursements 583,978
----------
Net Operating Cash Inflow 816,919
----------
INTERCOMPANY TRANSFERS
PGW Rcpts. Swept to AMS -
AMS to/(from) PGW -
Reimbursement to AMS -
----------
Total I/C Transfers -
----------
Net Cash Inflow 816,919
==========
Based in San Diego, Calif., Advanced Marketing Services, Inc. --
http://www.advmkt.com/--provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry. The company has operations in
the U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.
The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482). Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel. Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors. In schedules filed with the Court,
Advanced Marketing disclosed total assets of US$213,384,791 and
total debts of US$216,608,357. Publishers Group West disclosed
total assets of US$39,699,451 and total debts of US$83,272,493.
Publishers Group Inc. disclosed zero assets but US$41,514,348 in
liabilities.
On Aug. 24, 2007, the Debtors' exclusive period to file a
chapter 11 plan expired. On the same date, the Debtors and
Creditors Committee filed a Plan & Disclosure Statement. On
September 26, the Court approved the adequacy of the Disclosure
Statement explaining the Second Amended Plan. The Court
confirmed that Plan on Nov. 15, 2007.
(Advanced Marketing Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000).
ADVANCED MARKETING: Publishers Group Files Report for Sept. 2007
----------------------------------------------------------------
Publishers Group West Incorporated
Statement of Cash Flows
September 1 to 28, 2007
CASH RECEIPTS
Accounts Receivable US$569,515
Perseus - payments for post-petition returns -
Perseus - reimbursement for customer deductions -
Perseus - Transition service reimb (PGW costs) -
Perseus - Transition service reimb (AMS costs) -
Perseus - Retention plan reimbursement -
Interest Income 103,020
Other 80,200
----------
Total Cash Receipts 752,735
----------
INVENTORY DISBURSEMENTS
Publishers - Wires -
Publishers - Checks -
----------
Total Inventory Disbursements -
----------
OPERATING DISBURSEMENTS
Total Payroll (incl. taxes) 83,444
Employee retention plan 133,212
Temp/contract labor 85,877
Health Insurance -
Insurance -
Rent-facilities 12,379
Freight 28,454
Shipping supplies -
Utilities -
IT Expenses 469
Travel 2,792
Professional fees -
Office equipment & supplies 3,923
Communications 4,411
Warehouse equipment -
Directors' fees -
Misc 43,777
Post-petition A/P 11,609
----------
Total Operating Disbursements 410,347
----------
Total Disbursements 410,347
----------
Net Operating Cash Inflow 342,388
----------
INTERCOMPANY TRANSFERS
PGW Rcpts. Swept to AMS -
AMS to/(from) PGW -
Reimbursement to AMS -
----------
Total I/C Transfers -
----------
Net Cash Inflow US$342,388
==========
Based in San Diego, Calif., Advanced Marketing Services, Inc. --
http://www.advmkt.com/--provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry. The company has operations in
the U.S., Mexico, the United Kingdom and Australia and employs
approximately 1,200 people Worldwide.
The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482). Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel. Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors. In schedules filed with the Court,
Advanced Marketing disclosed total assets of US$213,384,791 and
total debts of US$216,608,357. Publishers Group West disclosed
total assets of US$39,699,451 and total debts of US$83,272,493.
Publishers Group Inc. disclosed zero assets buUS$41,514,348 in
liabilities.
On Aug. 24, 2007, the Debtors' exclusive period to file a
chapter 11 plan expired. On the same date, the Debtors and
Creditors Committee filed a Plan & Disclosure Statement. On
September 26, the Court approved the adequacy of the Disclosure
Statement explaining the Second Amended Plan. The Court
confirmed that Plan on Nov. 15, 2007.
(Advanced Marketing Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000).
BERRYMAN FURNITURE: Joint Meeting Slated for November 23
--------------------------------------------------------
Berryman Furniture (Australia) Pty Ltd will hold a joint meeting
for its members and creditors on November 23, 2007, at
10:00 a.m.
At the meeting, the members and creditors will hear the
liquidators' report on the company's wind-up proceedings and
property disposal.
The company's liquidators are:
Stephen Brennan
Michael Royal
SBR Insolvency & Reconstruction
Level 8, 65 York Street
Sydney, New South Wales 2000
Australia
About Berryman Furniture
Berryman Furniture (Australia) Pty Ltd is a distributor of
furniture and fixtures. The company is located at Warragamba,
in New South Wales, Australia.
BREMORE ENGINEERING: Members and Creditors Hear Wind-Up Report
--------------------------------------------------------------
The members and creditors of Bremore Engineering Pty. Ltd met on
November 6, 2007, and heard the liquidator's report on the
company's wind-up proceedings and property disposal.
The company's liquidator is:
M. H. Lyford
Ogilvie House
12 Kintail Road, Applecross
Western Australia 6153
Australia
About Bremore Engineering
Located at Gosnells, in Western Australia, Australia, Bremore
Engineering Pty Ltd is an investor relation company.
CHRYSLER LLC: Plans to Offer Rebates in December
------------------------------------------------
Chrysler LLC may offer a new round of rebates in December 2007,
as it expect a difficult year in sales for 2008, Reuters reports
citing the Wall Street Journal as its source.
According to the report, a campaign kick off is set on Nov. 20,
2007, through its Jeep, Dodge, Chrysler television ads. The
company will also emphasize the lifetime warranty it began
offering on engines and transmissions early this year.
Discounts will be heavy on Chrysler Pacifica, PT Cruiser
convertible and Crossfire, and the Dodge Magnum, the four slow-
selling models that are being discontinued, Reuters relates.
Cost-Reduction Efforts
As reported in the Troubled Company Reporter on Nov. 5, 2007,
Chrysler disclosed that it would make volume-related reductions
at several of its North American assembly and powertrain plants,
and eliminate four products from its line-up.
Shifts will be eliminated at five North American assembly plants
which, combined with other volume-related manufacturing actions,
will lead to a reduction of 8,500-10,000 additional hourly jobs
through 2008.
Additional actions include reductions of salaried employment by
1,000 and supplemental (contract) employment by 37%. The
Company also plans to eliminate hourly and salaried overtime and
reduce purchased services due to reduction in volume.
The volume-related actions are in addition to 13,000 jobs
eliminated by the three-year Recovery and Transformation Plan
announced in February. The objectives of the RTP remain the
same.
"We have to move now to adjust the way our company looks and
acts to reflect a smaller market," Tom LaSorda, vice chairman
and president of the Chrysler Group, said. "That means a cost
base that is right-sized and an appropriate level of plant
utilization."
About Chrysler LLC
Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- a unit of Cerberus Capital
Management LP, produces Chrysler, Jeep(R), Dodge and Mopar(R)
brand vehicles and products. The company has dealers worldwide,
including Canada, Mexico, U.S., Germany, France, U.K.,
Argentina, Brazil, Venezuela, China, Japan and Australia.
* * *
As reported in the Troubled Company Reporter on Nov. 12, 2007,
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Chrysler LLC and DaimlerChrysler Financial
Services Americas LLC and removed it from CreditWatch with
positive implications, where it was placed Sept. 26, 2007. The
outlook is negative.
CONSTELLATION BRANDS: Fortune Deal Cues Fitch to Hold Ratings
-------------------------------------------------------------
Fitch Ratings has affirmed the ratings of Constellation Brands
Inc. following the company's announcement that it had entered
into a definitive agreement to acquire Fortune Brands, Inc.'s
U.S. wine business for US$885 million.
Fitch has affirmed these ratings:
-- Issuer Default Rating 'BB-';
-- Bank credit facility 'BB-';
-- Senior unsecured notes to 'BB-';
-- Senior subordinated notes 'B+'.
The Rating Outlook is Negative.
Fitch's ratings apply to STZ's US$3.9 billion credit facilities,
US$1.9 billion of senior unsecured debt, and US$250 million of
senior subordinated notes.
The affirmation reflects the addition of market leading premium
and super premium wines to STZ's already solid position in the
U. S. market and around the world. STZ maintains leading market
shares in most of the major wine markets around the globe and a
diversified alcoholic beverage portfolio and has an excellent
track record of integrating acquisitions. The company has
restructured acquired operations to enhance productivity and has
sold non-essential assets, which has provided some proceeds to
reduce debt. Of concern is STZ willingness to operate at higher
leverage levels and its appetite for acquisitions. Over the
intermediate term, it is likely that the company will continue
to make acquisitions that may result in financial and
operational stress.
The company's debt levels are expected to be meaningfully higher
at the end of fiscal 2008 (ending Feb. 29, 2008). Leverage has
grown as a result of successive debt financed acquisitions and
stock repurchases, including an accelerated share repurchase
transaction in May 2007. As a result, interest expense has
increased and coverage measures have weakened considerably over
the past couple of years. As of Aug. 31, 2007, pro forma for the
acquisition of FO's wine business, debt/EBITDA (unadjusted for
acquisition-related integration costs and restructuring and
related charges) would be approaching 6.0 times, while
EBITDA/interest would be slightly above 2.5x. Nonetheless, the
strong fit of FO's wine brands, the high growth rates for the
super-premium category and some reduction in debt in the near
term are expected to improve these numbers in the short-term.
Ongoing difficulties in U.K. and Australian operations and a
reduction in U.S. distributor inventory levels, which have
affected cash flow, are also expected to abate in calendar 2008.
FINCORP FINANCIAL: Will Declare Final Dividend on November 21
-------------------------------------------------------------
Fincorp Financial Services Limited, which is in liquidation,
will declare final dividend on November 21, 2007.
Creditors who were not able to file their proofs of debt by the
November 6 due date will be excluded from the company's dividend
distribution.
The company's liquidator is:
David Winterbottom
KordaMentha
Level 5, Chifley Tower
2 Chifley Square
Sydney, New South Wales 2000
Australia
About Fincorp Financial
Fincorp Financial Services Limited provides security and
commodity services. The company is located at Burwood, in New
South Wales, Australia.
FINCORP SOUTH: To Declare Final Dividend on November 28
-------------------------------------------------------
A final dividend will be declared for the creditors of Fincorp
South Morang Commercial Pty Limited on November 28, 2007.
Creditors who were not able to file their proofs of debt by the
November 6 due date will be excluded from the company's dividend
distribution.
The company's liquidator is:
David Winterbottom
KordaMentha
Level 5, Chifley Tower
2 Chifley Square
Sydney, New South Wales 2000
Australia
About Fincorp South
Located at Sydney, in New South Wales, Australia, Fincorp South
Morang Commercial Pty Ltd is an investor relation company.
FORD CREDIT: Moody's Changes Rating Outlook to Stable
-----------------------------------------------------
Moody's Investors Service affirmed the long-term ratings of Ford
Motor Company (B3 Corporate Family Rating, Ba3 senior secured,
Caa1 senior unsecured, and B3 probability of default), but
changed the rating outlook to Stable from Negative and raised
the company's Speculative Grade Liquidity rating to SGL-1 from
SGL-3.
Moody's also affirmed Ford Motor Credit Company's B1 senior
unsecured rating, and changed the outlook to Stable from
Negative. These rating actions follow Ford's announcement of
the details of the newly ratified four-year labor agreement with
the UAW.
Bruce Clark, senior vice president with Moody's said, "The key
elements of the Ford labor agreement are similar to those
contained in the contracts recently reached by the UAW with
General Motors and Chrysler. Over the long term the new
contract will help to significantly reduce Ford's wage and
health care costs." Clark cautioned, however, that "Despite the
very constructive elements of the agreement, the cash flow
benefits of the new contract will not really take hold until
2010. As a result we still expect that through 2008, Ford's
operating cash flow will be significantly negative and its
credit metrics will remain weak." The essential features of the
contract include: the establishment of a UAW-managed VEBA that
will be responsible for retiree health care costs; the
establishment of a two-tiered wage structure; and tighter
restrictions on eligibility for JOBs bank benefits
The improvement in Ford's outlook to stable reflects the longer-
term benefits of the UAW agreements and the company's
significant liquidity position, balanced against a very
challenging operating environment and the sizable negative cash
flow the company will generate through 2009.
Moody's revision of Ford Credit's outlook to stable considers
the ownership and business connections between Ford and Ford
Credit that link the ratings of the two firms. Ford's improved
outlook suggests that it may be less likely to pursue actions
and strategies that would have adverse consequences for Ford
Credit's credit profile. Pressures on Ford Credit's stand-alone
characteristics, such as its liquidity, asset quality and
profitability, may also be eventually eased by Ford's improved
operating prospects. However, Ford Credit is likely to continue
to face near-term challenges to its profitability resulting from
higher trending borrowing, credit, and depreciation costs. Ford
Credit's rating is positioned two-notches higher than Ford's,
reflecting Moody's view that holders of Ford Credit's debt would
experience lower loss severity in default than would the
creditors of Ford.
Until 2010, when Ford can begin to harvest some of the new
contract's cost savings, the company will have to contend with a
number of significant challenges that will result in
considerable negative cash flow from operations. The rate of
operating cash consumption will be considerable during 2008 but
will likely narrow during 2009. The near term challenges
confronting Ford include: a cost structure that, although
improving, is still uncompetitive with that of Asian rivals, the
need to fund employee buy-outs associated with the new UAW
contract, and the reluctance on the part of consumers to pay as
much for certain Ford vehicles as for vehicles produced by
competitors -- despite Ford's steadily improving quality
measures. Ford will also have to contend with the possibility
that broader economic and market conditions could become more
difficult in the US. There is an increasing risk that US
automotive shipments fall below 16 million units during 2008;
this compares with shipments of about 16.5 million in 2007, and
17 million in 2006. In addition, high oil prices could
accelerate the shift in consumer preference away from trucks and
SUVs toward cars and more fuel efficient vehicles. These trends
could have a negative impact on the late-2008 introduction of
Ford's most profitable and most strategically important vehicle
-- the F-150 light truck.
An important mitigant to these near-term challenges is Ford's
strong liquidity position that will include approximately US$30
billion in cash and securities following the funding of the UAW-
managed VEBA, and US$11 billion in available credit facilities
that are committed through 2011. Moody's notes that the degree
of benefit provided by this credit facility to Ford's overall
liquidity position may be moderated by the company's ability to
designate Ford Credit as a borrower. Nevertheless, Ford has
considerable capacity to cover all expected cash requirements
during the next 12 to 24 months. This very ample liquidity
profile supports the company's SGL-1 Speculative Grade Liquidity
rating.
During 2008, Ford will continue to focus on reducing material
costs, gaining market acceptance for new vehicles, stabilizing
its retail share position, and improving the pricing power and
profitability of it car and cross over vehicle portfolio. The
company will also look to take full advantage of the cost
reduction opportunities within the UAW agreement. Ford's rating
outlook could improve if progress in these areas indicates that
the company is on track to generate positive free cash flow,
sustain interest coverage exceeding 1x, and achieve EBITA
margins approximating 2.5% during the 2009 time frame.
Ford Motor Company, a leading global automotive manufacturer, is
headquartered in Dearborn, Michigan.
The company has operations in Japan in the Asia Pacific region.
In Europe, the company maintains a presence in Sweden, and the
United Kingdom. The company also distributes its brands in
various Latin American regions, including Argentina and Brazil.
FORTESCUE METALS: Discovers 1 Billion Ton Iron Ore Deposit
----------------------------------------------------------
Fortescue Metals Group Ltd. announced an estimate of Inferred
Resources of iron ore totalling in excess of 1 billion tonnes
(Bt) for the Serenity area comprising the western one-third of
its Solomon Project area.
A total of 1.014 Bt averaging 56% Fe has been defined as an
Inferred Resource in accordance with the JORC Code. Within this
deposit Fortescue has defined 337 million tonnes (Mt) of channel
iron deposit averaging 56.7% Fe.
Fortescue is continuing to drill equally propsective targets in
the eastern portion of the Solomon Project area and expects to
announce additional resources in that area before Christmas.
Serenity is located about 60 kilometers north-northwest of Tom
Price in the Pilbara region of Western Australia.
This discovery is a result of a drilling programme by Fortescue
aimed at providing sufficient resource with its Chichester
deposits to support its planned production expansion to 200
million tonnes per annum (mtpa). This initial mineralization
comes from the Serenity area which represents one third of its
total tenements in the Solomon area.
Metallurgical test work has commenced and preliminary results
suggest that mineralization is responding positively but
further work is required to determining detailed process flow
sheets, expected recoveries and product characteristics. This
work is ongoing.
You will be able to view a estimated table of the Inferred
Resource in the company's Web site:
http://www.fmgl.com.au/IRM/content/invest_asx.htm
The estimate is based upon the results of 439 RC drill holes
totalling 10312 meters and using a bulk in-situ density of 2.6.
All holes were sampled in one meter intervals and analyzed by
SGS Laboratories and Ultra Trace in Perth, Western Australia
using XRF techniques. Estimation was carried out by using
ordinary kriging for all of the mineralized domaines and inverse
distance for waste. Fortescue Metals Group is satisfied that
the requirements laid down under the JORC cod have been
fulfilled, including internal QA/QC work to deliver this
Inferred Resource Estimation to the Australian Stock
Exchange.
In line with this, John Winters of Egoli reports that
Fortescue's shares soared 26% after the company announced the
new discovery.
About Fortescue Metals
Headquartered in West Perth, Western Australia, Fortescue Metals
Group Limited -- http://fmgl.com.au/-- is involved in the
exploration of iron ore through a project to mine iron ore in
the Chichester Ranges, in the Pilbara region of Western
Australia and exporting it from Port Hedland.
* * *
Fortescue reported a net loss for the past two fiscal years.
Net loss for the year ended June 30, 2005, was AU$4.52 million
and net loss for the year ended June 30, 2006, was
AU$2.15 million.
H COOMBE: Members Receive Wind-Up Report
----------------------------------------
On November 16, 2007, the members of H Coombe Proprietary
Limited had a meeting and received the liquidator's report on
the company's wind-up proceedings and property disposal.
The company's liquidator is:
S. W. Vine
Ground Floor
200 East Terrace
Adelaide, South Australia 5000
Australia
About H Coombe
Located at Croydon, in South Australia, Australia, H Coombe
Proprietary Limited is an investor relation company.
MEGA BRANDS: Moody's May Cut Low-B Ratings After Review
-------------------------------------------------------
Moody's Investors Service placed the B1 corporate family rating
and other long term ratings of MEGA Brands, Inc. on review for
possible downgrade after the company announced weaker than
expected results for the third quarter of 2007 and for year-to-
date. The LGD rates are also subject to change. The
speculative grade liquidity rating was affirmed at SGL-3.
These ratings were placed on review for possible downgrade:
* MEGA Brands, Inc.
-- Corporate Family Rating of B1:
-- Probability of Default of B2;
-- US$120 million 5-year revolving credit facility maturing
July 2010 of Ba3;
-- US$40 million, 5-year term loan A facility of Ba3.
* MEGA Brands Finco
-- US$260 million 7-year term loan B facility of Ba3.
The rating was last lowered in July 2007 due to poor results in
2006 and in early 2007. The new review is prompted by the fact
that expectations of improvements in the latter half of 2007
have not materialized. Third quarter sales were down 8.8%
versus the prior year mainly due to production delays in Asia
and lower shipments of Magnetix products, and Gross Profit
plummeted more than 60% due in part to inventory write-offs and
adjustments. Mega reported an operating loss for the quarter of
US$5.1 million versus a profit of US$26.4 million a year
earlier. Moody's review will focus on the likelihood of a
return to sustainable profitability in the near term. It will
also revisit the current status of pending litigation, the
issues around the company's self insurance for product liability
for Magnetix products manufactured before May 1, 2006 and for
incidents occurring after Dec. 1, 2006, and the likely timing
and payout of the disputed Rose Art earn-out payment.
The SGL-3 was affirmed based on Moody's continued expectation
for adequate near-term liquidity for the company. Absent the
Rose Art earn-out payment, which the company does not expect to
make before 2009, MEGA Brands' liquidity is supported by balance
sheet cash and availability under its $120 million revolver,
offset by the seasonal nature of its cash flow which requires
reliance on its bank facility, the potential for limited
covenant cushion under its credit agreement over the medium
term, and its limited alternative sources of liquidity.
Based in Montreal, Canada, MEGA Brands Inc. --
http://www.megabrands.com/ -- (TSE:MB) is a distributor of
construction toys, games & puzzles, arts & crafts and
stationery. The company is headquartered in Montreal,
Canada and has offices in Belgium, United Kingdom, Germany,
France, Spain, Mexico, and Australia. The company had sales of
over US$547 million in 2006.
MOBIUS NCM-03: S&P Affirms Low-B Ratings of Class D & E Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services affirmed the ratings assigned
to the Class D and Class E notes issued by Mobius NCM-03 Trust
and removed them from CreditWatch with negative implications
where they were placed on Aug. 6, 2007. The affirmation follows
the continuation of a build-up of support to cover potential
future losses.
"The number of loans in arrears continues to be a concern," said
Standard & Poor's credit analyst Belinda Smith. "However, the
increased loss expectations are more than offset by the
significant amount of excess spread available. This excess
spread is sufficient to cover the losses that are currently
flowing through. It will also allow for the accumulation of a
sizeable loss reserve to cover potential future losses."
Ratings Affirmed and Removed From CreditWatch Negative
Class Rating To Rating From
Mobius NCM-03 Trust D BB BB/Watch Neg
Mobius NCM-03 Trust E B B/Watch Neg
Ratings Affirmed Class Rating
Mobius NCM-03 Trust A1 AAA
Mobius NCM-03 Trust A2 AAA
Mobius NCM-03 Trust Z AAA
Mobius NCM-03 Trust B A
Mobius NCM-03 Trust C BBB
NEWMONT VIETNAM: Liquidator Gives Report on Wind-up Proceeding
--------------------------------------------------------------
The members of Newmont Vietnam Pty Ltd met on November 16, 2007,
and heard the liquidator's report on the company's wind-up
proceedings and property disposal.
The company's liquidator is:
Thea Eszenyi
McGrathNicol
Level 13, 99 Gawler Place
Adelaide, South Australia 5000
Australia
Telephone:+61 8 8468 3700
Web site: http://www.mcgrathnicol.com
About Newmont Vietnam
Newmont Vietnam Pty Ltd provides metal mining services. The
company is located at Adelaide, in South Australia, Australia.
PEABODY ENERGY: Fitch Affirms Issuer Default Rating at BB+
----------------------------------------------------------
Fitch has affirmed these ratings for Peabody Energy
Corporation's:
-- Issuer Default Rating at 'BB+';
-- Senior unsecured notes at 'BB+';
-- Senior unsecured revolving credit and term loan at 'BB+';
-- Convertible junior subordinated debentures due 2066 at
'BB-'.
The Outlook is Stable.
The ratings reflect Peabody's large, well-diversified
operations, good control of low cost production, strong
liquidity and moderate leverage. In particular, Peabody ranks
first in the Wyoming Powder River Basin with 2006 sales of 138
million tons and reserves of 3.3 billion tons and first in the
Midwest with 2006 sales of 39 million tons and reserves of 4.1
billion tons.
On Oct. 31, 2007, Peabody completed the spin-off of Patriot Coal
Corporation to shareholders. Patriot has coal assets and
operations in West Virginia and Kentucky. While the transaction
will increase Peabody's financial leverage slightly, it will
decrease the company's legacy liabilities by roughly US$1
billion and reducing related annual expenditures by about US$100
million.
Liquidity at quarter end was strong with cash on hand of
US$216.3 million (US$159.7 million pro forma for the Patriot
spin-off) and availability under its revolver of
US$1.35 billion. Total Debt with Equity Credit/EBITDA for the
latest 12 months ended Sept. 30, 2007 was 3.5 times. Pro forma
for the Patriot spin-off, leverage on the same measure would
have been 3.6. Peabody has substantial legacy liabilities and
adjusted leverage remains over 4.0 post the Patriot spin-off.
Headquartered in St. Louis, Missouri, Peabody Energy Corporation
(NYSE: BTU) -- http://www.peabodyenergy.com/-- is the world's
largest private-sector coal company, with 2005 sales of 240
million tons of coal and US$4.6 billion in revenues. Its coal
products fuel 10% of all U.S. and 3% of worldwide electricity.
The company has coal operations in Australia and Venezuela.
PROTEL COMMUNICATIONS: Members Agree on Voluntary Liquidation
-------------------------------------------------------------
During a general meeting held on September 20, 2007, the members
of Protel Communications International Pty Ltd agreed to
voluntarily liquidate the company's business.
The company's liquidators are:
Brentnalls SA
Chartered Accountants
255 Port Road
Hindmarsh, South Australia 5007
Australia
About Protel Communications
Protel Communications International Pty Ltd provides
communications services. The company is located at Doonan, in
Queensland, Australia.
REALOGY CORP: Hires Richard Smith as Chief Executive Officer
------------------------------------------------------------
Realogy Corporation has appointed Richard A. Smith, as its chief
executive officer, succeeding Henry R. Silverman in accordance
with the Company's previously announced succession plan.
Mr. Smith will now serve as Realogy's president and CEO.
Mr. Silverman will become the non-executive chairman of
Realogy's board of directors. The leadership transition will
take effect immediately.
Headquartered in Parsippany, New Jersey, Realogy Corporation
(NYSE: H)-- http://www.realogy.com/-- is real estate franchisor
and a member of the S&P 500. The company has a diversified
business model that also includes real estate brokerage,
relocation, and title services. Realogy's world-renowned brands
and business units include CENTURY 21(R), Coldwell Banker(R),
Coldwell Banker Commercial(R), ERA(R), Sotheby's International
Realty(R), NRT Incorporated, Cartus, and Title Resource Group.
Realogy has more than 15,000 employees worldwide. The company
operates in Australia, Brazil and France.
* * *
As reported in the Troubled Company Reporter-Latin America on
Nov. 6, 2007, Standard & Poor's Ratings Services has lowered its
ratings on Realogy Corp.; the corporate credit rating was
lowered to 'B' from 'B+'. S&P said the rating outlook is
stable.
SCO GROUP: Earns US$1,608 in Period Ended September 15-30, 2007
---------------------------------------------------------------
The SCO Group Inc. reported zero revenues and zero expenses for
the period beginning September 15 through 30, 2007. However,
the company generated other income from China Investment of
US$1,608 for the period ending Sept. 30, 2007. The company's
net profit for the month of September 2007 was US$1,608.
As of Sept. 30, 2007, the company's balance sheet showed total
US$1,327,901, total liabilities of US$1,745,258, and total
stockholders' deficit of US$417,357.
operating report is available for free at:
A full-text copy of the company's September 15 through 30, 2007
http://ResearchArchives.com/t/s?256e
Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX)
fka Caldera International Inc. -- http://www.sco.com/--
provides software technology for distributed, embedded and
network-based systems, offering SCO OpenServer for small to
medium business and UnixWare for enterprise applications and
digital network services.
The company and its affiliate, SCO Operations Inc., filed for
Chapter 11 protection on Sept. 14, 2007, (Bankr. D. Del. Lead
Case No. 07-11337). Paul Steven Singerman, Esq. and Arthur J.
Spector, Esq. at Berger Singerman PA and Laura Davis Jones, Esq.
at Pachulski Stang Ziehl & Jones LLP are co-counsels to the
Debtors. Epiq Bankruptcy Solutions, LLC, acts as the Debtors'
claims and noticing agent. The United States Trustee failed to
form an Official Committee of Unsecured Creditors in these cases
due to insufficient response from creditors. The Debtors'
exclusive period to file a chapter 11 plan expires on March 12,
2008. The Debtors' schedules of assets and liabilities showed
total assets of US$9,549,519 and total liabilities of
US$3,018,489.
SCO GROUP: SCO Operations Posts US$731,158 Net Loss in Sept. 07
---------------------------------------------------------------