/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/070828.mbx T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Monday, August 27, 2007, Vol. 8, No. 169 Headlines A U S T R I A AUTOITALIA SALZBURG: Salzburg Court Orders Business Shutdown BERYLL EYEWEAR: Claims Registration Period Ends Sept. 7 DATENFARBE ROT: Claims Registration Period Ends Sept. 3 ELEKTRO ABLASSER: Claims Registration Period Ends Sept. 3 HOUSSINE TAIEB: Claims Registration Period Ends Sept. 4 SCALA SOFTWARE: Administrator Declares Insufficient Assets TINNITRONICS LLC: Vienna Court Orders Business Shutdown B E L G I U M ADVANCED MICRO: Henri Richard to Resign by September 2007 C Z E C H R E P U B L I C TIMKEN CO: Closes Repair Service Deal with Weir Canada F R A N C E ACXIOM CORP: Inks with Goodmail to Provide CertifiedEmail Access ALCATEL-LUCENT: Messrs. D'Amelio and Quigley Resigns DELPHI CORP: Lead Plaintiffs Accede to Class Action Settlement PRIDE INT'L: Buys 9% Remainder of Angolan Joint Venture Stake G E R M A N Y ANJA KRUMBHOLZ: Creditors Must File Claims by August 31 ARTIMENTO GMBH: Claims Registration Period Ends Sept. 24 BAUUNTERNEHMEN KUVEN: Claims Registration Ends September 21 BRAUER GMBH: Claims Registration Ends September 21 C & M COMPUTER: Claims Registration Ends September 21 CIY TAXI: Creditors Must File Claims by September 28 EVACTION GMBH: Claims Registration Period Ends Sept. 17 FUCHS EINRICHTUNGEN: Creditors Must File Claims by September 3 GENERAL MOTORS: Trimming Production in SUV & Pickup Truck Plants GLF GARTEN: Claims Registration Ends September 21 GOODYEAR TIRE: Plans Growth Investments & Debt Repayment H. SCHUETZ: Claims Registration Period Ends Sept. 17 HARTL BAU: Claims Registration Period Ends Sept. 11 KAI MINDERMANN: Claims Registration Period Ends Sept. 14 LISSY GMBH: Claims Registration Period Ends Sept. 25 MAG-TRANSPORT: Claims Registration Period Ends Sept. 18 METROMEDIA INT'L: CaucusCom Completes Common Stock Tender Offer MORE MEDIA: Claims Registration Period Ends Sept. 14 OBJEKTVERWALTUNG BETEILIGUNGS: Creditors' Claims Due September 4 PROSIEBENSAT.1 MEDIA: Forms New Unit and Shuffles Personnel PS FASHION: Claims Registration Ends September 20 ROCABLANCA HANDELSGESELLSCHAFT: Claims Filing Ends Sept. 25 RS VERTRIEBS: Claims Registration Period Ends Sept. 18 SCHULDNERIN GRAFF: Creditors Must File Claims by September 3 * Fitch Sees No Systemic Crisis for German Banks H U N G A R Y AES CORP: Dominican Subsidiary Restarts Operations AES CORP: El Salvador Regulator Completes Probe on Firm's Unit I R E L A N D ARAMARK CORP: Moody's Assigns SGL-2 Liquidity Rating K A Z A K H S T A N AKTAU-KURYLYS SERVICE: Claim Deadline Slated for Sept. 26 AKTOBE TRANSSTROY: Creditors Must File Claims Sept. 25 ARNA LLP: Claims Filing Period Ends Sept. 25 AVIA-TOUR AGENCY: Creditors' Claims Due on Sept. 25 ERP-UJNAYA LLP: Claims Registration Ends Sept. 19 FORNIK LLP: Proof of Claim Deadline Slated for Sept. 25 JARYK SAUDA: Creditors Must File Claims Sept. 19 SERVER LLP: Claims Filing Period Ends Sept. 19 STROYTECHNOELEMENT LLP: Creditors' Claims Due on Sept. 19 TAIYNSHA NAN: Claims Registration Ends Sept. 19 K Y R G Y Z S T A N GELD LLC: Proof of Claim Deadline Slated for September 21 N E T H E R L A N D S EURO GALAXY: Moody's Rates EUR13.5 Mln Class E Notes at Ba3 FOOT LOCKER: Incurs US$18 Million Net Loss in Qtr. Ended Aug. 4 KONINKLIJKE AHOLD: Completes Reverse Stock Split STREET CLO VI: Fitch Rates EUR13.2 Million Class E Notes at BB R U S S I A AREAL CJSC: Creditors Must File Claims by Sept. 4 ARSLAMBAEVSKIY CJSC: Creditors Must File Claims by Sept. 4 BASHKIR-AGRO-PROM-DOR-STROY: Claims Filing Period Ends Sept. 4 DINA LLC: Creditors Must File Claims by Sept. 4 FASHION OJSC: Kirov Bankruptcy Hearing Slated for Oct. 24 GAZPROM NEFT: Wants to Buy Yugraneft Out of Sibneft-Yugra NOVOSELKOVSKIY DIARY: Creditors Must File Claims by Oct. 4 PESTRITSY-REM-SERVICE: Names A. Volkov as Insolvency Manager PROM-SNAB M: Court Names P. Kulikov as Insolvency Manager ROSNEFT OIL: Earns RUR38.3 Billion for First Half 2007 SAN-LES LLC: Perm Bankruptcy Hearing Slated for Oct. 24 SERVICE-KHOLOD OJSC: Bankruptcy Hearing Slated for Dec. 11 SIRIUS: Creditors Must File Claims by Sept. 4 STELS CJSC: Creditors Must File Claims by Sept. 4 TAIS CJSC: Court Names S. Dzhembulatov as Insolvency Manager URAL-BREAD-AGRO: Names S. Dzhembulatov as Insolvency Manager VLADIVOSTOKSKIY FISH: Asset Filing Deadline Slated for Aug. 31 * Fitch Gives BB- Rating with Stable Outlook to Murmansk Region S W I T Z E R L A N D ANALYSER SYSTEMS: Creditors' Liquidation Claims Due September 3 ELEKTRO NAGELE: Thurgau Court Starts Bankruptcy Proceedings JORDIN JSC: Creditors' Liquidation Claims Due September 5 PARTNERS-IMMO-FINANCES: Zug Court Starts Bankruptcy Proceedings TRAILER JSC: Creditors' Liquidation Claims Due September 3 U K R A I N E BERDICHEV-KHOLOD CJSC: Proofs of Claim Deadline Set August 28 DOBRA LLC: Proofs of Claim Deadline Set August 28 IMPEX-TK LTD: Creditors Must File Claims by August 28 KARA-GOL LLC: Proofs of Claim Deadline Set August 28 MINE BORING: Creditors Must File Claims by August 28 MOTO-DOR LLC: Creditors Must File Claims by August 28 ORMIS LLC: Creditors Must File Claims by August 28 UDICH-SUGAR LLC: Proofs of Claim Deadline Set August 28 VIDRODZHENNIA LLC: Creditors Must File Claims by August 28 ZLAGODA OJSCAL: Creditors Must File Claims by August 28 U N I T E D K I N G D O M ACCORD INTERNATIONAL: Claims Filing Period Ends September 27 AEFOS LTD: C. B. Barrett Leads Liquidation Procedure AEOLUS CDO: S&P Rates GBP8 Million Class E Notes at BB- BAA LTD: Two Media Relations Chiefs Quit Over Media Clampdown BRITISH AIRWAYS: U.S. Court Upholds US$300 Mln Price Fixing Fine CABLE & WIRELESS: Unit Says Networks Unaffected by Hurricane CAIRN EURO: Fitch Assigns BB- Ratings to Class C Notes CODEX INTEGRATION: Claims Filing Period Ends October 10 COUNTRY ARTISTS: Lloyds TSB Appoints KPMG as Receivers DOMAIN CHOICES: Names Nigel Hamilton-Smith Liquidator DURA AUTOMOTIVE: Files Reorganization Plan in Delaware HUMBERSIDE PRESSURE: Claims Filing Period Ends September 13 INTER-ALLIANCE LTD: Taps Liquidators from PricewaterhouseCoopers SALTBURN PUB: Appoints Michael C. Kienlen as Liquidator SPORTS ON THE INTERNET: Brings In Liquidator from Vantis W FISHER & SONS: Appoints Begbies Traynor as Administrators WORLDANSWER LTD: Taps Nigel Hamilton-Smith to Liquidate Assets * BOND PRICING: For the Week Aug. 20 to Aug. 24, 2007 ********* ============= A U S T R I A ============= AUTOITALIA SALZBURG: Salzburg Court Orders Business Shutdown ------------------------------------------------------------ The Land Court of Salzburg entered July 23 an order shutting down the business of LLC AutoItalia Salzburg (FN 51155d). Court-appointed estate administrator Ernst Kohlbacher recommended the business shutdown after determining that the continuing operations would reduce the value of the estate. The estate administrator can be reached at: Dr. Ernst Kohlbacher Schwarzstrasse 27 5020 Salzburg Austria Tel: 0662/883171 Fax: 0662/883161 E-mail: ra.kohlbacher@aon.at Headquartered in Salzburg, Austria, the Debtor declared bankruptcy on July 10 (Bankr. Case No 23 S 50/07h). BERYLL EYEWEAR: Claims Registration Period Ends Sept. 7 ------------------------------------------------------- Creditors owed money by LLC BERYLL eyewear (FN 170183w) have until Sept. 7 to file written proofs of claim to court-appointed estate administrator Bernhard Eder at: Dr. Bernhard Eder Brucknerstrasse 4 1040 Vienna Austria Tel: 505 78 61 Fax: 505 78 61 9 E-mail: eder@rechtsanwaelte.co.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:45 a.m. on Sept. 21 for the examination of claims. The meeting of creditors will be held at: The Trade Court of Vienna Room 1607 Vienna Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on July 26 (Bankr. Case No. 28 S 86/07m). DATENFARBE ROT: Claims Registration Period Ends Sept. 3 ------------------------------------------------------- Creditors owed money by LLC datenfarbe rot Informationstechnologie & Marketing (FN 200196g) have until Sept. 3 to file written proofs of claim to court-appointed estate administrator Hans Peter Puchleitner at: Mag. Hans Peter Puchleitner Kalchberggasse 10/I 8010 Graz Austria Tel: 03155/5170 Fax: 03155/5170-20 E-mail: kanzlei-puchleitner@inode.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:00 a.m. on Sept. 18 for the examination of claims. The meeting of creditors will be held at: The Land Court of Graz Hall K Room 205 Second Floor Graz Austria Headquartered in Fehring, Austria, the Debtor declared bankruptcy on July 19 (Bankr. Case No. 40 S 17/07h). ELEKTRO ABLASSER: Claims Registration Period Ends Sept. 3 --------------------------------------------------------- Creditors owed money by LLC Elektro Ablasser (FN 57857i) have until Sept. 3 to file written proofs of claim to court-appointed estate administrator Georg Muhri at: Georg Muhri LLC CGO Masseverwaltung Neutorgasse 47/I 8010 Graz Austria Tel: 0316/820620-0 Fax: 0316/820620-4 E-mail: office@cgo-masseverwaltung.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:15 a.m. on Sept. 18 for the examination of claims. The meeting of creditors will be held at: The Land Court of Graz Hall K Room 205 Second Floor Graz Austria Headquartered in Hausmannstatten, Austria, the Debtor declared bankruptcy on July 24 (Bankr. Case No. 40 S 18/07f). HOUSSINE TAIEB: Claims Registration Period Ends Sept. 4 ------------------------------------------------------- Creditors owed money by KEG Houssine Taieb (FN 172862i) have until Sept. 4 to file written proofs of claim to court-appointed estate administrator Georg Kahlig at: Dr. Georg Kahlig c/o Mag. Gerhard Stauder Siebensterngasse 42/3 1070 Vienna Austria Tel: 523 47 91-0 Fax: 523 47 91 33 E-mail: kahlig.partner@aon.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:10 a.m. on Sept. 18 for the examination of claims. The meeting of creditors will be held at: The Trade Court of Vienna Room 1607 Vienna Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on July 20 (Bankr. Case No. 28 S 85/07i). Gerhard Stauder represents Dr. Kahlig in the bankruptcy proceedings. SCALA SOFTWARE: Administrator Declares Insufficient Assets ---------------------------------------------------------- Dr. Andrea Simma, the court-appointed estate administrator for LLC Scala Software (FN 75264h), declared July 26 that the Debtor's property is insufficient to cover creditors' claim. The Trade Court of Vienna is yet to rule on the estate administrator's claim. Headquartered in Vienna, Austria, the Debtor declared bankruptcy on July 10 (Bankr. Case No. 6 S 85/07b). Guenther Hoedl represents Dr. Simma in the bankruptcy proceedings. The estate administrator can be reached at: Dr. Andrea Simma c/o Dr. Guenther Hoedl Schulerstrasse 18 1010 Vienna Austria Tel: 513 67 03 Fax: 513 67 03 33 E-mail: RA_Simma@aon.at Hoedl@anwaltsteam.at TINNITRONICS LLC: Vienna Court Orders Business Shutdown ------------------------------------------------------- The Trade Court of Vienna entered July 26 an order shutting down the business of LLC Tinnitronics (FN 172827h). Court-appointed estate administrator Stephan Riel recommended the business shutdown after determining that the continuing operations would reduce the value of the estate. The estate administrator can be reached at: Dr. Stephan Riel Landstrasser Hauptstrasse 1/2 1030 Vienna Austria Tel: 713 44 33 Fax: 713 10 33 E-mail: kanzlei@jsr.at Headquartered in Vienna, Austria, the Debtor declared bankruptcy on July 17 (Bankr. Case No 28 S 84/07t). ============= B E L G I U M ============= ADVANCED MICRO: Henri Richard to Resign by September 2007 --------------------------------------------------------- Advanced Micro Devices Inc. disclosed Wednesday that Chief Sales and Marketing Officer Henri Richard is leaving the company in September 2007. Mr. Richard departs AMD of his own accord and on completely amicable terms. "Henri's primary goal at AMD has been to construct a world-class global sales and marketing organization focused on enduring relationships with major PC and server OEMs around the world. He delivered on that goal," said AMD Chairman and CEO Hector Ruiz. "AMD is fully focused on leveraging the momentum we established during the last five years to achieve even greater levels of success ahead." The AMD global sales and marketing organization will now report into the office of the CEO. "After 20 years in the PC industry - and five of the most professionally rewarding years here at AMD - I have decided to make a move to a different business segment," Mr. Richard said. "I am leaving AMD at a time when the company is in position to break the monopoly that plagues this industry. I am immensely proud of my contribution to AMD, and in particular, of the strong team I leave behind." About AMD Advanced Micro Devices Inc. -- http://www.amd.com/-- (NYSE: AMD) designs and manufactures microprocessors and other semiconductor products. The company has a facility in Singapore. It has sales offices in Belgium, France, Germany, the United Kingdom, Mexico and Brazil. * * * As reported in the Troubled Company Reporter on Aug. 14, 2007, Standard & Poor's Ratings Services affirmed its B/Negative/-- corporate credit rating on Sunnyvale, California-based Advanced Micro Devices Inc. At the same time, S&P assigned its 'B' rating to the company's US$1.5 billion 5.75% senior convertible notes due 2012, and raised the rating on the company's existing senior unsecured debt to 'B' from 'B-', because the company no longer has secured debt in its capital structure. As reported in the Troubled Company Reporter on Aug. 13, 2007, Fitch Ratings has assigned a 'CCC+/RR6' rating to Advanced Micro Devices Inc.'s private placement of US$1.5 billion 5.75% convertible senior notes due 2012. The 'CCC+/RR6' rating also applies to up to US$225 million of additional notes issued within the next 30 days to cover over-allotments. The 'BB-/RR2' rating on AMD's US$1.69 billion Term Loan B due 2010 is affirmed and withdrawn, as the company will use net proceeds from debt issuance, as well as available cash, to fully repay the term loan. Fitch also affirmed the company's Issuer Default Rating at 'B'; and Senior unsecured debt at 'CCC+/RR6'. As reported in the Troubled Company Reporter on July 26, 2007, Standard & Poor's Ratings Services affirmed its 'B/Negative/--' corporate credit rating on Sunnyvale, California-based Advanced Micro Devices Inc. At the same time, Standard & Poor's lowered the rating on the company's 7.75% senior notes due 2012 to 'B-' from 'BB-', which is now rated the same as the company's other senior unsecured notes, reflecting release of the collateral securing the issue. =========================== C Z E C H R E P U B L I C =========================== TIMKEN CO: Closes Repair Service Deal with Weir Canada ------------------------------------------------------ The Timken Company has completed an agreement with Weir Canada, Inc. to be the authorized provider of Timken repair services for chock bearing maintenance and chock repair for metal manufacturing customers in Canada. The addition of Weir's service capabilities improves Timken's delivery of repair services for chocks, which are bearing housings, to Canadian metal manufacturers. Timken will provide training in specialized mill repair services, technical assistance and other necessary support to Weir. Based in Ontario, Weir is a leading provider of equipment maintenance, process support and asset management in conventional power generation and renewable energy, oil and gas, water, marine and general industry. "The metal manufacturers that Timken serves in Canada will benefit from Weir's close proximity and high-quality service," said Roger L. Oberweiser, business development manager for Timken industrial services. "This relationship strengthens the service level and expands Timken's ability to create value for customers in this important industry." Long known for its expertise in engineering and manufacturing bearings, Timken also offers a full range of maintenance and repair services for heavy industrial manufacturers around the world. The agreement with Weir covers only metal manufacturers and does not extend to other Timken customers in Canada. "Weir and Timken are similarly dedicated to supplying solutions to industrial customers, and we both share a reputation for helping our customers improve performance," said Charles Laarhuis, regional service director for Weir Canada. "Timken is the kind of company that meets our criteria for the service relationships that we value." About Weir Canada Established in 1897, Weir Canada, Inc. supplies Canadian industry with a wide range of industrial products and services. A Weir Group PLC company, Weir Canada markets leading industrial products from Weir and a range of select U.S. and United Kingdom manufacturers. The Weir Group PLC employs around 8,000 people worldwide across five divisions. About Timken Co. Headquartered in Canton, Ohio, The Timken Company (NYSE: TKR) -- http://www.timken.com/-- is a manufacturer of highly engineered bearings and alloy steels. It also provides related components and services such as bearing refurbishment for the aerospace, medical, industrial and railroad industries. The company has operations in Argentina, Australia, Belgium, Brazil, Canada, China, Czech Republic, England, France, Germany, Hungary, India, Italy, Japan, Korea, Mexico, Netherlands, Poland, Romania, Russia, Singapore, South America, Spain, Taiwan, Turkey, United States, and Venezuela and employs 27,000 employees. * * * As reported in the Troubled Company Reporter-Latin America on Aug. 15, 2007, Moody's Investors Service affirmed Timken's Ba1 corporate family rating and the Ba1 rating on Timken's US$300 million Medium Term Notes, Series A. =========== F R A N C E =========== ACXIOM CORP: Inks with Goodmail to Provide CertifiedEmail Access ---------------------------------------------------------------- Acxiom(R) Corporation entered into a partnership between Acxiom Digital, a leading provider of integrated digital marketing solutions for Global 2000 enterprises, and Goodmail Systems, Inc., the creator of CertifiedEmail, which will provide qualifying Acxiom Digital clients with immediate access to CertifiedEmail. Under terms of the partnership, Acxiom Digital will become a CertifiedEmail Premier Provider. Those Acxiom Digital clients that meet Goodmail's rigorous accreditation standards will be able to leverage CertifiedEmail's authentication technologies to enhance the reach and effectiveness of their email marketing campaigns. CertifiedEmail is a class of trusted email available to senders with the best email practices and the lowest complaint rates. Currently supported by seven of the nation's top ten mailbox providers, CertifiedEmail improves email effectiveness by delivering messages specially marked with a unique blue ribbon envelope icon and assures that all email messages are delivered directly to consumers' inboxes rather than being inadvertently routed to junk folders. Additionally, CertifiedEmail ensures that images and links are displayed properly and in full within email messages, allowing consumers to view graphic-rich email content -- rather than it being blocked and restricted. The blue ribbon icon that appears on CertifiedEmail messages provides consumers validation that a message is coming from a trusted and legitimate source. "Our joint offering with Goodmail is further validation of Acxiom Digital's ongoing commitment to providing best-in-class integrated digital marketing technology and services to our clients," said Kevin Johnson, leader of Acxiom Digital. "In an effort to protect their customers from spam, many mailbox providers have disabled email images and links by default. As a result, the functionality and value of legitimate email messages has been reduced. By offering Goodmail Certified Email, we will help clients restore full email functionality and increase its value to recipients and marketers." "Acxiom Digital provides industry-leading solutions to some of the world's largest and best known companies," said Daniel Dreymann, co-CEO of Goodmail. "CertifiedEmail assures customer communications are received as designed, marked as authentic and desired." About Goodmail Systems Goodmail Systems -- http://www.goodmailsystems.com/-- makes CertifiedEmail(TM), the industry standard class of trusted email. CertifiedEmail provides a safe and reliable means for consumers to easily identify authentic messages from legitimate commercial and nonprofit senders. Each CertifiedEmail is sent with a cryptographically secure token that assures authenticity, and is marked in the inbox with a unique blue ribbon envelope icon, enabling consumers to visually distinguish messages which are real and sent from senders with whom they have a pre- existing relationship. Available to senders meeting strict standards for best email practices and low complaint rates, it is the only class of email available that assures delivery of all opt-in email messages to the inbox, with links and images automatically rendered intact, yielding measurable improvements in email program effectiveness. CertifiedEmail has been adopted by seven of the nation's top ten mailbox providers and 150 government agencies. It is supported in North America and the United Kingdom by a wide network of email platforms and service providers. About Acxiom Founded in 1969, Acxiom has locations throughout the United States, in Europe particularly in France and Germany, and in Australia and China in the Asia-Pacific region. Acxiom has a team of specialists with sales and business development associates based in the largest Latin American markets: Brazil, Argentina and Mexico. * * * Standard & Poor's Ratings Services assigned its loan and recovery ratings to Little Rock, Arkansas-based Acxiom Corp.'s proposed US$800 million secured first-lien financing. The first-lien facilities consist of a US$200 million revolving credit facility and a US$600 million term loan. They are rated 'BB' with a recovery rating of '2'. Moody's Investors Service assigned a Ba2 rating to Acxiom Corporation's US$800 million senior secured credit facilities, while affirming its corporate family rating of Ba2. Moody's said the outlook is stable. ALCATEL-LUCENT: Messrs. D'Amelio and Quigley Resigns ---------------------------------------------------- Alcatel-Lucent has announced changes to its senior leadership team. Frank D'Amelio, Chief Administrative Officer of Alcatel-Lucent is leaving the company to accept the position of Chief Financial Officer at Pfizer and Mike Quigley, President, Science, Technology and Strategy of Alcatel-Lucent, has decided to leave the company and return to Australia. "During the past year, both Mike and Frank have contributed significantly to the planning for and the launch of Alcatel- Lucent. With their help, we achieved a number of important milestones in a very short time. We wish them much success as they embark on new chapters in their lives," said Pat Russo, Alcatel-Lucent Chief Executive Officer. "When we announced the merger of Alcatel-Lucent we acknowledged the breadth and depth of the senior management team and we anticipated that there would be an evolution in leadership responsibilities, which is natural. We are well served with a strong bench of top executive talent that we can draw upon as well as an extensive set of resources that we believe are unrivalled in the industry," said Mr. Russo. With Mr. Quigley's departure, Etienne Fouques, currently head of the Carrier Business Segment will assume the leadership for the Science, Technology and Strategy functions that previously reported to Mr. Quigley. In addition he will also oversee the Services Business Group, which will continue to be led by John Meyer. Michel Rahier, head of the Wireline Business Group will assume the overall leadership of the Carrier Business Segment, which includes Wireline, Wireless, and Convergence businesses. The individuals who previously reported to Etienne as head of the Carrier Business Segment will now report to Mr. Rahier. Further, the company will strengthen the interface between the product businesses and the supply chain by reporting the Global Supply Chain to Mr. Rahier as well. With Mr. D'Amelio's departure the organizations that previously reported to him will now report to other members of the senior leadership team. In addition to his role as Chief Administrative Officer, Mr. D'Amelio also oversaw the Integration Program Office, along with Christian Reinaudo. Mr. Reinaudo will continue in his role, and together with Janet Davidson will co-lead these efforts. The discipline for monitoring and managing our integration activities are in place and operational and our integration plans, as the company have said, are progressing. Headquartered in Paris, France, Alcatel-Lucent -- http://www.alcatel-lucent.com/-- provides solutions that enable service providers, enterprises and governments worldwide to deliver voice, data and video communication services to end users. Alcatel-Lucent maintains operations in 130 countries, including, Austria, Germany, Hungary, Italy, Netherlands, Ireland, Canada, United States, Costa Rica, Dominican Republic, El Salvador, Guatemala, Peru, Venezuela, Indonesia, Australia, Brunei and Cambodia. On Nov. 30, 2006, Alcatel and Lucent Technologies Inc. completed their merger transaction, and began operations as a communication solutions provider under the name Alcatel-Lucent on Dec. 1, 2006. * * * As reported on April 13, 2007, Fitch Ratings affirmed Alcatel- Lucent's ratings at Issuer Default 'BB' with a Stable Outlook, senior unsecured 'BB' and Short-term 'F2' and simultaneously withdrawn them. As of Feb. 7, 2007, Moody's Investor Services put a Ba2 rating on Alcatel's Corporate Family and Senior Debt rating. Lucent carries Moody's B1 Senior Debt rating and B2 Subordinated debt & trust preferred rating. Alcatel-Lucent's Long-Term Corporate Credit rating and Senior Unsecured Debt carry Standard & Poor's Ratings Services' BB rating. Its Short-Term Corporate Credit rating stands at B. DELPHI CORP: Lead Plaintiffs Accede to Class Action Settlement -------------------------------------------------------------- Lead Plaintiffs Teachers' Retirement System of Oklahoma, Public Employees' Retirement System of Mississippi, Raiffeisen Kapitalanlage-Gesellschaft m.b.H. and Stichting Pensioenfonds ABP, have agreed to a settlement of a securities class action litigation brought against Delphi Corporation, certain of its current or former officers and directors and certain investment banking firms, as referenced in the District Court's Aug. 17, 2007, Order. The settlement includes a comprehensive settlement with Delphi's insurers. The Action has been litigated on behalf of a proposed Class of investors who purchased or acquired publicly traded shares, bonds, or notes of Delphi and securities issued by Delphi Trust I and Delphi Trust II between March 7, 2000, and March 3, 2005, inclusive. The Settlement, upon approval by both the District Court and the Bankruptcy Court, would end the securities litigation with respect to the company and all Individual Defendants named in the action. The settlement shall also resolve claims against the investment banking firms named as defendants in the action, which pursuant to Delphi's reorganization plan, will be released having also contributed to the settlement consideration to be paid to the Class. The Action would continue with respect to Deloitte & Touche, LLP, Delphi's outside auditor during the Class Period, as well as Defendants JPMorgan Chase & Co, SETECH Inc. and BBK, Ltd, three independent companies alleged to have participated with Delphi in transactions designed to mask Delphi's financial problems during the Class Period. None of these parties will be released from liability for these claims in connection with the Settlement. The case caption is: In re: Delphi Corporation Securities, Derivative and "Erisa" Litigation, E.D. Mich., Master Case No. 05-MD-1725. The terms of the settlement are confidential. Investors wishing to discuss other aspects of this class action settlement or having any questions concerning their rights or interests with respect to this matter, please contact any of the four co-lead counsel in the Action: a) Bernstein Litowitz Berger & Grossmann LLP John P. Coffey at 212-554-1400; b) Grant & Eisenhofer P.A. Stuart Grant at 302-622-7000; c) Nix, Patterson & Roach L.L.P. Brad Beckworth at 903-645-7333; and d) Schiffrin Barroway Topaz & Kessler LLP Sean Handler at 1-888-299-7706. Headquartered in Troy, Michigan, Delphi Corporation (OTC: DPHIQ) -- http://www.delphi.com/-- is the single supplier of vehicle electronics, transportation components, integrated systems and modules, and other electronic technology. The company's technology and products are present in more than 75 million vehicles on the road worldwide. Delphi has regional headquarters in Japan, Brazil and France. The company filed for chapter 11 protection on Oct. 8, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-44481). John Wm. Butler Jr., Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, represent the Debtors in their restructuring efforts. Robert J. Rosenberg, Esq., Mitchell A. Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP, represents the Official Committee of Unsecured Creditors. As of Mar. 31, 2007, the Debtors' balance sheet showed US$11,446,000,000 in total assets and US$23,851,000,000 in total debts. The Debtors' exclusive plan-filing period expires on Dec. 31, 2007. PRIDE INT'L: Buys 9% Remainder of Angolan Joint Venture Stake ------------------------------------------------------------- Pride International Inc. said Wednesday that it acquired the remaining 9% interest in its Angolan joint venture company from a subsidiary of Sonangol, the national oil company of Angola. The joint venture owns the two deepwater drill ships Pride Africa and Pride Angola and the 300 ft. independent-leg jackup rig Pride Cabinda, and holds management agreements for the deepwater platform rigs Kizomba A and Kizomba B. The acquisition increases Pride's ownership in the three mobile offshore drilling units and the two management agreements, along with related working capital, to 100 percent. Cash consideration in the transaction of US$45 million was paid with cash on hand and borrowings under the company's revolving credit facility. The transaction brings Pride's total investment in high specification, deepwater drilling rigs, including commitments to construct two ultra-deepwater drill ships, to just over US$2 billion since late 2005. About Pride International Headquartered in Houston, Texas, Pride International Inc. (NYSE: PDE) -- http://www.prideinternational.com/-- provides onshore and offshore drilling and related services in more than 25 countries, operating a diverse fleet of 277 rigs, including two ultra-deepwater drill ships, 12 semisubmersible rigs, 28 jackups, 16 tender-assist, barge and platform rigs, five managed deepwater rigs and 214 land rigs. The company has two additional ultra-deepwater drill ships under construction with expected deliveries in 2010. The company has reached a definitive agreement to sell its Latin America-based land drilling and work over rigs, two lake drilling barges and E&P Services business with an expected closing by the end of the third quarter of 2007. In addition, the company has announced an agreement to sell its three tender-assist rigs, with an expected closing in early 2008. The company maintains worldwide operations in France, Mexico, Kazakhstan, India, and Brazil, among others. * * * As reported in the Troubled Company Reporter on July 30, 2007, Moody's affirmed Pride International, Inc.'s credit ratings following the company's announcement of the acquisition of a newbuild drillship to be delivered in 2010. The affirmed ratings include the Ba1 corporate family rating, the Ba2 rating on Pride's US$500 million senior notes due 2014, the Baa2 rating on its US$500 million senior secured credit facility and speculative grade liquidity rating of SGL-2. The outlook is stable. ============= G E R M A N Y ============= ANJA KRUMBHOLZ: Creditors Must File Claims by August 31 ------------------------------------------------------- Creditors of Anja Krumbholz have until Aug. 31 to register their claims with court-appointed insolvency manager Carl Christian Binneberg. Creditors and other interested parties are encouraged to attend the meeting at 11:00 a.m. on Sept. 25, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Koblenz Hall 111 Main Court Karmeliterstrasse 14 56068 Koblenz Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Carl Christian Binneberg Am Schuetzenplatz 24 56182 Urbar Germany The District Court of Koblenz opened bankruptcy proceedings against Anja Krumbholz on Aug. 13. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Anja Krumbholz Koblenzer Str. 35 56073 Koblenz Germany ARTIMENTO GMBH: Claims Registration Period Ends Sept. 24 -------------------------------------------------------- Creditors of artimento GmbH & Co. KG have until Sept. 24 to register their claims with court-appointed insolvency manager Lucas F. Floether. Creditors and other interested parties are encouraged to attend the meeting at 10:30 a.m. on Oct. 23, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Magdeburg Hall D Insolvency Department Liebknechtstrasse 65-91 39110 Magdeburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Lucas F. Floether Halberstadter Str. 55 39112 Magdeburg Germany Tel: 0391/5556840 Fax: 0391/5556849 E-mail: magdeburg@feigl.biz The District Court of Magdeburg opened bankruptcy proceedings against artimento GmbH & Co. KG on Aug. 8. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: artimento GmbH & Co. KG Warschauer Str. 20 39104 Magdeburg Germany BAUUNTERNEHMEN KUVEN: Claims Registration Ends September 21 ----------------------------------------------------------- Creditors of Bauunternehmen Kuven GmbH have until Sept. 21 to register their claims with court-appointed insolvency manager Nils Eggers. Creditors and other interested parties are encouraged to attend the meeting at 10:30 a.m. on Nov. 7, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Stralsund Hall A 421 Fourth Floor House A Frankendamm 17 Stralsund Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Nils Eggers Lange Strasse 50 18311 Ribnitz-Damgarten Germany The District Court of Stralsund opened bankruptcy proceedings against Bauunternehmen Kuven GmbH on Aug. 14. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Bauunternehmen Kuven GmbH Attn: Siegfried Kuven, Manager Mittelweg 12 18445 Prohn Germany BRAUER GMBH: Claims Registration Ends September 21 -------------------------------------------------- Creditors of Brauer GmbH have until Sept. 21 to register their claims with court-appointed insolvency manager Dr. Tibor Braun. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Oct. 19, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Esslingen Hall 1 First Floor Ritterstr.5 Eingang Strohstrasse Esslingen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Tibor Braun Kriegerstr. 3 70191 Stuttgart Germany Tel: 0711/225583-0 Fax: 0711/225583-20 The District Court of Esslingen opened bankruptcy proceedings against Brauer GmbH on Aug. 13. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Brauer GmbH Attn: Henriette and Gerhard Brauer, Manager Otto-Hahn-Str. 19 73235 Weilheim Germany C & M COMPUTER: Claims Registration Ends September 21 ----------------------------------------------------- Creditors of C & M Computer & Mehr GmbH have until Sept. 21 to register their claims with court-appointed insolvency manager Dr. Frank Kebekus. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Oct. 12, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Duesseldorf Meeting Hall A 341 Third Floor Muehlenstrasse 34 40213 Duesseldorf Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Frank Kebekus Carl-Theodor-Str. 1 40213 Duesseldorf Germany The District Court of Duesseldorf opened bankruptcy proceedings against C & M Computer & Mehr GmbH on Aug. 13. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: C & M Computer & Mehr GmbH Krischerstrasse 12 40789 Monheim Germany Attn: Uwe-Helge Berwanger, Manager Wiener-Neustadter-Strasse 178 40789 Monheim Germany CIY TAXI: Creditors Must File Claims by September 28 ---------------------------------------------------- Creditors of Ciy Taxi IZ GmbH have until Sept. 28 to register their claims with court-appointed insolvency manager Dietmar Penzlin. Creditors and other interested parties are encouraged to attend the meeting at 2:00 p.m. on Oct. 30, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Itzehoe Hall 2 Theodor-Heuss-Platz 3 25524 Itzehoe Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dietmar Penzlin Rathausstrasse 2 20095 Hamburg Germany The District Court of Itzehoe opened bankruptcy proceedings against Ciy Taxi IZ GmbH on Aug. 13. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Ciy Taxi IZ GmbH Lindenstr. 44 25524 Itzehoe Germany EVACTION GMBH: Claims Registration Period Ends Sept. 17 ------------------------------------------------------- Creditors of evaction GmbH have until Sept. 17 to register their claims with court-appointed insolvency manager Thomas Luger. Creditors and other interested parties are encouraged to attend the meeting at 10:30 a.m. on Oct. 22, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Ludwigsburg Hall 2008 Schorndorfer Str. 28 71638 Ludwigsburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Thomas Luger Olgastr. 54 70182 Stuttgart Germany Tel: 0711/165530 The District Court of Ludwigsburg opened bankruptcy proceedings against evaction GmbH on Aug. 15. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: evaction GmbH Attn: Michael Heck, Manager Neuenbuehl 1 71287 Weissach Stuttgart Germany FUCHS EINRICHTUNGEN: Creditors Must File Claims by September 3 -------------------------------------------------------------- Creditors of Fuchs Einrichtungen GmbH have until Sept. 3 to register their claims with court-appointed insolvency manager Thomas Wulsten. Creditors and other interested parties are encouraged to attend the meeting at 10:30 a.m. on Oct. 10, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Frankfurt (Oder) Hall 401 Muellroser Chaussee 55 15236 Frankfurt (Oder) Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Thomas Wulsten Rudolf-Breitscheid-Strasse 33 14482 Potsdam Germany The District Court of Frankfurt (Oder) opened bankruptcy proceedings against Fuchs Einrichtungen GmbH on Aug. 7. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Fuchs Einrichtungen GmbH Wildbahn 27 15236 Frankfurt Germany GENERAL MOTORS: Trimming Production in SUV & Pickup Truck Plants ---------------------------------------------------------------- General Motors Corp. is cutting production at six North American plants that make large pickup trucks and sport-utility vehicles as the company moves to clear dealer lots of excess inventory, Jeff Green of Bloomberg News reports. Company spokesman Tom Wickham told Bloomberg's Mr. Green in an interview that the factories will eliminate previously scheduled overtime for the rest of the year for models such as the Chevrolet Suburban SUV and GMC Sierra pickup. John D. Stoll and Neal E. Boudette of The Wall Street Journal relate that GM's move is underscoring fears that the auto industry is headed for a longer and more painful downturn in the U.S. than many had expected. Citing industry observers, WSJ says a longer downturn could threaten the turnaround plans of GM due to sharp declines in U.S. auto sales in the last two months as falling home values and credit worries damped consumer interest. Headquartered in Detroit, Michigan, General Motors Corp. (NYSE: GM) -- http://www.gm.com/-- was founded in 1908. GM employs about 280,000 people around the world and manufactures cars and trucks in 33 countries, including the United Kingdom, Germany, France, Russia, Brazil and India. In 2006, nearly 9.1 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services. * * * As reported in the Troubled Company Reporter on May 28, 2007, Standard & Poor's Ratings Services placed General Motors Corp.'s corporate credit rating at B/Negative/B-3. At the same time, Moody's Investors Service affirmed GM's B3 Corporate Family Rating and B3 Probability of Default Rating, and maintained its SGL-3 Speculative Grade Liquidity Rating. The rating outlook remains negative, according to Moody's. GLF GARTEN: Claims Registration Ends September 21 ------------------------------------------------- Creditors of GLF Garten- und Landschaftsbau Frey Berlin- Brandenburg GmbH have until Sept. 21 to register their claims with court-appointed insolvency manager Dr. Juergen Spliedt. Creditors and other interested parties are encouraged to attend the meeting at 9:15 a.m. on Oct. 24, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Potsdam Hall 301 Third Floor Nebenstelle Lindenstrasse 6 14467 Potsdam Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Juergen Spliedt Uhlandstrasse 165/166 10719 Berlin Germany The District Court of Potsdam opened bankruptcy proceedings against GLF Garten- und Landschaftsbau Frey Berlin-Brandenburg GmbH on Aug. 10. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: GLF Garten- und Landschaftsbau Frey Berlin-Brandenburg GmbH Oderstrasse 74-76 14513 Teltow Germany GOODYEAR TIRE: Plans Growth Investments & Debt Repayment -------------------------------------------------------- The Goodyear Tire & Rubber Company is planning major global investments to fuel growth and plans to repay additional debt, both made possible by the recent sale of its Engineered Products business and the company's successful equity offering. Goodyear is considering potential new tire factories in Eastern Europe and Asia in addition to the company's intent to invest in existing tire factories to increase high-value-added capacity by 40% globally and increase capacity in existing low-cost plants by 33%. Together, these investments would drive the company toward its strategy of having 50% of its global capacity in low- cost countries by 2012. The investment program includes modernization in North America to Goodyear's tire plants in Fayetteville, North Carolina, and Gadsden, Alabama, for increased high-value-added capacity, both supported with investment incentives by local and state governments. "Consistent with what we have been telling investors, the successful completion of the sale of Engineered Products combined with our equity offering in May allows us to expand our future growth investments," Goodyear Chairman and Chief Executive Officer Robert J. Keegan said. "We will continue to use a disciplined approach in allocating capital to high-return investments." In addition, Mr. Keegan said Goodyear has given notice to its lenders that it will repay its US$300 million third lien term loan. The repayment will result in annualized interest expense savings of approximately US$26 million, of which about US$10 million will be realized in 2007. The secured loan matures in 2011. The company's debt repayment plans also include the early repayment, in the first quarter of 2008, of US$650 million in secured notes that are due in 2011. Mr. Keegan said these early repayments coupled with the company's US$315 million redemption of senior notes in June will save Goodyear more than US$125 million in annual interest expense. Goodyear confirmed progress against its Four Point Cost Savings Plan. The company disclosed in April it now targets gross cost savings of US$1.8 billion to US$2 billion by the end of 2009. Through June 30, 18 months into the plan, Goodyear indicated it had achieved nearly US$750 million in cost savings against this target. More than US$500 million of these savings are a result of continuous improvement initiatives. While announced savings from eliminating high-cost manufacturing total US$135 million, only US$35 million of this was reflected in results through June 30. Sourcing raw materials, equipment and products from Asia and other low-cost countries has resulted in savings of US$60 million and selling, administrative and general expense savings-to-date total more than US$150 million. "We remain on track to achieve our targeted savings," Mr. Keegan said. "While some of these savings are offset by currently elevated inflation levels in areas such as energy and some manufacturing inefficiencies in advance of footprint reductions, we are confident structural savings will be achieved on a net basis, particularly in North America." About Goodyear Headquartered in Akron, Ohio, The Goodyear Tire & Rubber Company (NYSE: GT) -- http://www.goodyear.com/-- is the world's largest tire company. The company manufactures tires, engineered rubber products and chemicals in more than 90 facilities in 28 countries. Goodyear maintains Asia-Pacific facilities in Australia, China and Korea. Its European bases are located in Austria, France, Germany, Italy, Russia, Spain, and the United Kingdom. Goodyear's Latin-American operations are located in Argentina, Brazil, Chile, Colombia, Jamaica, Mexico, and Peru. Goodyear employs more than 80,000 people worldwide. Goodyear maintains Asia-Pacific facilities in Australia, China and Korea. Its European bases are located in Austria, France, Germany, Italy, Russia, Spain, and the United Kingdom. Goodyear's Latin-American operations are located in Argentina, Brazil, Chile, Colombia, Jamaica, Mexico, and Peru. * * * As reported in the Troubled Company Reporter on June 4, 2007, Standard & Poor's Ratings Services raised its ratings on Goodyear Tire & Rubber Co., including its corporate credit rating to 'BB-' from 'B+'. In addition, the ratings were removed from CreditWatch where they were placed with positive implications on May 10, 2007. Recovery ratings were not on CreditWatch. H. SCHUETZ: Claims Registration Period Ends Sept. 17 ---------------------------------------------------- Creditors of H. Schuetz GmbH have until Sept. 17 to register their claims with court-appointed insolvency manager Dr. Holger Lessing. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on Oct. 8, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Bad Homburg v.d. Hoehe Room 302 Third Floor Auf der Steinkaut 10-12 61352 Bad Homburg v.d. Hoehe Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Holger Lessing Hanauer Landstrasse 287-289 60314 Frankfurt A.M. Germany Tel: 069/15051-300 Fax: 069/15051-400 The District Court of Bad Homburg v.d. Hoehe opened bankruptcy proceedings against H. Schuetz GmbH on Aug. 9. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: H. Schuetz GmbH Attn: Holger Schuetz, Manger Drei Hasen 28 61440 Oberursel Germany HARTL BAU: Claims Registration Period Ends Sept. 11 --------------------------------------------------- Creditors of Hartl Bau GmbH have until Sept. 11 to register their claims with court-appointed insolvency manager Dr. Michael Jaffe. Creditors and other interested parties are encouraged to attend the meeting at 9:20 a.m. on Oct. 12, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Munich Meeting Room 102 Infanteriestr. 5 80097 Munich Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Michael Jaffe Franz-Joseph-Str. 8 80801 Muenchen Tel: 089/255487-00 Fax: 089/255487-10 The District Court of Muenchen opened bankruptcy proceedings against Hartl Bau GmbH on Aug. 10. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Hartl Bau GmbH Attn: Hans Hartl, Manager Klosterstr. 6a 82294 Oberschweinbach Germany KAI MINDERMANN: Claims Registration Period Ends Sept. 14 -------------------------------------------------------- Creditors of Kai Mindermann Software Engineering & Consulting GmbH have until Sept. 14 to register their claims with court- appointed insolvency manager Detlef Stuermann. Creditors and other interested parties are encouraged to attend the meeting at 9:20 a.m. on Oct. 18, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Cuxhaven Hall 112 Old Building Deichstr. 12 A 27472 Cuxhaven Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Detlef Stuermann Domshof 18 - 20 28195 Bremen Germany Tel: 0421 3686-0 Fax: 0421 3686-100 The District Court of Cuxhaven opened bankruptcy proceedings against Kai Mindermann Software Engineering & Consulting GmbH on Aug. 13. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Kai Mindermann Software Engineering & Consulting GmbH Attn: Kai Mindermann, Manager Duenenfaehrstr. 1 27612 Loxstedt Germany LISSY GMBH: Claims Registration Period Ends Sept. 25 ---------------------------------------------------- Creditors of Lissy GmbH have until Sept. 25 to register their claims with court-appointed insolvency manager Stephan Neubauer. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on Nov. 6, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Reinbek Parkallee 6 21465 Reinbek Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Stephan Neubauer Spitaler Strasse 4 20095 Hamburg Germany The District Court of Reinbek opened bankruptcy proceedings against Lissy GmbH on Aug. 9. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Lissy GmbH Attn: Michaela Spalteholz, Manager Kamp 13 a 23619 Hamberge Germany MAG-TRANSPORT: Claims Registration Period Ends Sept. 18 ------------------------------------------------------- Creditors of MAG-Transport GmbH Hueseyin Buru have until Sept. 18 to register their claims with court-appointed insolvency manager Peter C. Darr. Creditors and other interested parties are encouraged to attend the meeting at 9:10 a.m. on Oct. 9, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Kempten Meeting Hall 157/I Residenzplatz 4-6 87435 Kempten Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Peter C. Darr Candidplatz 13 81543 Munich Germany Tel: (089) 614 6960 Fax: (089) 614 6966 6 The District Court of Kempten opened bankruptcy proceedings against MAG-Transport GmbH Hueseyin Buru on Aug. 7. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: MAG-Transport GmbH Hueseyin Buru Doesinger Weg 24 87665 Mauerstetten Germany METROMEDIA INT'L: CaucusCom Completes Common Stock Tender Offer --------------------------------------------------------------- CaucusCom Ventures L.P.'s wholly owned subsidiary, CaucusCom Mergerco Corp., completed its tender offer for all of the issued and outstanding shares of common stock of Metromedia International Group Inc. at a price of US$1.80 per share in cash. The Offeror commenced the tender offer on July 18, 2007, pursuant to a merger agreement with Metromedia. The tender offer expired at 12:00 midnight, New York City time, on Tuesday, Aug. 21, 2007. As of the expiration of the tender offer, a total of approximately 80,161,574 shares of Metromedia common stock, including 2,001,191 common shares that were tendered pursuant to guaranteed delivery procedures, were validly tendered into the tender offer and not withdrawn. These shares represent approximately 77.6% of Metromedia's outstanding common shares, including approximately 1.9% of outstanding common shares that were tendered pursuant to guaranteed delivery procedures. All validly tendered common shares have been accepted for payment in accordance with the terms of the tender offer. CaucusCom intends to complete the acquisition of Metromedia through a merger of the Offeror with and into Metromedia in accordance with the merger agreement. About Caucuscom Ventures L.P. CaucusCom Ventures L.P. is a holding company affiliated with Salford Georgia, the local Georgian office of Salford Capital Partners Inc., an international private equity and investment management firm based in the British Virgin Islands, and Compound Capital Limited, an international private investment firm based in Bermuda. Compound is a subsidiary of Sun Capital Partners Ltd., a U.K.-based private investment firm that is not affiliated with, and has no relationship to, the U.S.-based private investment firm Sun Capital Partners Inc. About Metromedia International Group Inc. Based in Charlotte, North Carolina, Metromedia International Group Inc. (PINK SHEETS: MTRM, MTRMP) -- http://www.metromedia- group.com/ -- through its wholly owned subsidiaries, owns interests in several communications businesses in the country of Georgia. The company's core businesses include Magticom Ltd., a mobile telephony operator located in Tbilisi, Georgia, Telecom Georgia, a long distance telephony operator, and Telenet, which provides Internet access, data communications, voice telephony and international access services. * * * Moody's Investor Services assigned B3 on Metromedia International Group Inc.' subordinated debt and B2 on its junior subordinated debt on March 1994. The ratings hold to date. MORE MEDIA: Claims Registration Period Ends Sept. 14 ---------------------------------------------------- Creditors of More Media GmbH have until Sept. 14 to register their claims with court-appointed insolvency manager Dr. Christoph Schulte-Kaubruegger. Creditors and other interested parties are encouraged to attend the meeting at 10:20 a.m. on Oct. 23, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Dortmund Hall 3.201 Second Floor Gerichtsplatz 1 44135 Dortmund Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Christoph Schulte-Kaubruegger Rheinlanddamm 199 44139 Dortmund Germany The District Court of Dortmund opened bankruptcy proceedings against More Media GmbH on Aug. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: More Media GmbH Attn: Georg Nies, Manager Gutjahrstr. 10 44287 Dortmund Germany OBJEKTVERWALTUNG BETEILIGUNGS: Creditors' Claims Due September 4 ---------------------------------------------------------------- Creditors of Objektverwaltung Beteiligungs GmbH have until Sept. 4 to register their claims with court-appointed insolvency manager Matthias Hofmann. Creditors and other interested parties are encouraged to attend the meeting at 8:30 a.m. on Oct. 5, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Bayreuth Meeting Hall 520 - EG Friedrichstr. 18 Bayreuth Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Matthias Hofmann Richard-Wagner-Strasse 64 95444 Bayreuth Germany The District Court of Bayreuth opened bankruptcy proceedings against Objektverwaltung Beteiligungs GmbH on Aug. 14. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Objektverwaltung Beteiligungs GmbH Dr.-Hans-Frisch-Strasse 4 95448 Bayreuth Germany PROSIEBENSAT.1 MEDIA: Forms New Unit and Shuffles Personnel ----------------------------------------------------------- After taking over the SBS Broadcasting Group, ProSiebenSat.1 Media AG will rapidly implement its structure as a pan-European TV group. New Unit As one of the most important organizational and strategic innovations, the company has created a new Group Content unit. With this measure, the Group which reaches 200 million TV viewers in 13 countries, underlines its commitment to programming. The new Group Content unit has two divisions: -- Group Content Acquisitions will be responsible for the acquisition of licensed programs and formats at group level. It will be headed by Jan Frouman, 36, in addition to his responsibilities as Executive Vice President German TV at the ProSiebenSat.1 Group. He will be supported in group acquisitions by R�diger Boess. -- Group Content Production will lead the group-wide coordination of in-house and commissioned productions. It is to be headed by G bor Kereszty, 40, former Managing Director of TV 2 as well as the owner and manager of Interaktiv, one of Hungary's most successful production companies. He took over the management of TV 2 in Hungary and achieved the station's turn around. He will be supported by Stefan Thul who also keeps his current function as Head of commissioned productions for Germany and by Daniela Matei. Messrs. Kereszty and Frouman will report to ProSiebenSat.1 Group CEO Guillaume de Posch. Mr. Kereszty's successor as Managing Director at TV 2 in Hungary will be Zoltan V rdy, 36, the former commercial director at TV 2 and Vice President of Sales at SBS. Mr. Vardy will report to Patrick Tillieux, the ProSiebenSat.1 Group's Chief Operating Officer, who is in charge of Group operations, international TV, radio and print. Eric van Stade, 46, will be in charge of the Group's TV activities in the Netherlands. Thus he is responsible for the channels SBS 6, Veronica and NET 5 and also for Veronica magazine. Mr. van Stade joined SBS Broadcasting Group as Program Manager of SBS 6 in 1999. Before that he was an executive producer at John de Mol Productions. He takes over from Patrick Tillieux, who will concentrate on his function as Chief Operating Officer of the Group and to whom he will report. At the Group's headquarter in Munich, Quinton Holland, 39, as Director Group Controlling, is to take over responsibility for centralized controlling of the Group. Quinton Holland joined SBS Broadcasting Group in 2000 as head of finance and accounting. Prior to that he worked for ABN AMRO in London for the Equities and Corporate Finance divisions. Quinton Holland reports to Lothar Lanz, CFO of ProSiebenSat.1. Group. New Organization Line-up in Technology Unit Next to strengthening the programming division, the ProSiebenSat.1 Group also aims for technological leadership. The Group is currently evaluating further technology investments. This entails personnel changes. -- Christian Wegner, 33, has become Managing Director of ProSiebenSat.1 Produktion on August 1, 2007. In addition to his work at ProSiebenSat.1 Produktion, Mr. Wegner will also be Director of Operations for the ProSiebenSat.1 Group. In his new function he will steer the Broadcast and IT facilities at Group level. Coming from McKinsey, he joined ProSiebenSat.1 Produktion's management in May 2004. Since 2006 he has been responsible for strategy, finance, creative solutions and broadcasting services. Mr. Wegner will report to Patrick Tillieux. -- Frank Meissner, 44, formerly Managing Director at ProSiebenSat.1 Produktion and Director of Operations at ProSiebenSat.1 Media AG, has become Managing Director Technology & Production at German news station N24. In his new function and together with Torsten Rossmann, Managing Director N24 and Spokesperson of the Management, he will be responsible for making N24 Europe's most modern news station. With the establishment of an innovative technical platform for news production, N24 will be further developed as news supplier and as multimedia news brand. In addition to his tasks at N24, he will be in charge of sports productions realised by the ProSiebenSat.1 Group. Changed Responsibilities in Sales Division Peter Christmann, 42, will concentrate on his duties as ProSiebenSat.1 Group's Executive Board member Sales and Marketing as well as being in charge of the new International Sales division. Michael Krautwald, 40, will head the management of SevenOne Media, the ProSiebenSat.1 Group's advertising sales company. He will report to Peter Christmann. Mr. Krautwald joined SevenOne Media in 2004 as Managing Director Sales. Within the sales and marketing division of the Executive Board, Dr. Andrea Malgara, 42, will take over strategic marketing in the context of international sales, in addition to his current duties as Managing Director Marketing at SevenOne Media. Ms. Malgara joined the ProSiebenSat.1 Group in 1995. New Media & Diversification In the New Media and Diversification division, international expansion will be strengthened by Bart Becks. Mr. Becks, 35, will head the Innovation and New Media International unit. He will be responsible for the overall coordination of international new media services as well as for the development and international implementation of new services of the Group, in particular online, mobile, idTV, music, licencing and merchandising. Mr. Becks previously worked as Senior Vice President New Media at SBS Broadcasting Group. Before that Bart Becks served as Chief Executive Officer at Belgacom Skynet, and as Chairman and CEO of Skynet iMotion Activities, heading the Internet and digital media activities of Belgacom group. He will keep his roles as Vice President of IAB Belgium (Interactive Advertising Bureau) and as member of the Strategy Council of IAB Europe. Bart Becks reports to Marcus Englert, Member of the Executive Board for New Media. About ProsiebenSat.1 Headquartered in Munich, Germany, ProsiebenSat.1 Media AG -- http://en.ProsiebenSat1.com/-- broadcasts and produces TV programs through 24 commercial TV stations, 24 premium Pay TV channels and 22 radio network. In June 2007, the ProSiebenSat.1 Group acquired SBS Broadcasting Group. The company employs around 6,000 Europe-wide. * * * As of Aug. 23, 2007, ProsiebenSat.1 Media AG carries Ba1 senior unsecured and corporate family ratings from Moody's Investors Service. PS FASHION: Claims Registration Ends September 20 ------------------------------------------------- Creditors of PS Fashion Textil-GmbH have until Sept. 20 to register their claims with court-appointed insolvency manager Robert Fliegner. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Oct. 16, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Wuppertal Meeting Hall A234 Second Floor Eiland 2 42103 Wuppertal Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Robert Fliegner Gruenewalder Str. 29-31 42657 Solingen Germany Tel: 0212/2494200 Fax: 0212/2494201 The District Court of Wuppertal opened bankruptcy proceedings against PS Fashion Textil-GmbH on Aug. 15. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: PS Fashion Textil-GmbH Attn: Roger Polegato, Manager Pfeilstr. 26-30 42289 Wuppertal Germany ROCABLANCA HANDELSGESELLSCHAFT: Claims Filing Ends Sept. 25 ----------------------------------------------------------- Creditors of Rocablanca Handelsgesellschaft mbH & Co. KG have until Sept. 25 to register their claims with court-appointed insolvency manager Horst Piepenburg. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Oct. 23, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Duesseldorf Meeting Hall A 341 Third Floor Muehlenstrasse 34 40213 Duesseldorf Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Horst Piepenburg Heinrich-Heine-Allee 20 40213 Duesseldorf Germany The District Court of Duesseldorf opened bankruptcy proceedings against Rocablanca Handelsgesellschaft mbH & Co. KG on Aug. 9. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Rocablanca Handelsgesellschaft mbH & Co. KG Hans-Sachs-Strasse 16 40721 Hilden Germany Attn: Sandra Weissenfels, Manager Dresdener Strasse 4 40595 Duesseldorf Germany RS VERTRIEBS: Claims Registration Period Ends Sept. 18 ------------------------------------------------------ Creditors of RS Vertriebs GmbH have until Sept. 18 to register their claims with court-appointed insolvency manager Michael George. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Oct. 18, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Munich Meeting Hall 102 Infanteriestr. 5 80097 Munich Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Michael George Hans-Urmiller-Ring 11 82515 Wolfratshausen Germany Tel: 08171/38730-140 Fax: 08171/38730-222 The District Court of Munich opened bankruptcy proceedings against RS Vertriebs GmbH on Aug. 8. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: RS Vertriebs GmbH Attn: Robert Sigl, Manager Blutenburgstr. 106 80636 Munich Germany SCHULDNERIN GRAFF: Creditors Must File Claims by September 3 ------------------------------------------------------------ Creditors of Schuldnerin Graff Floristik GmbH have until Sept. 3 to register their claims with court-appointed insolvency manager Robert Schiebe. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Oct. 1, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Bingen am Rhein Hall 9 Mainzer Strasse 52 55411 Bingen am Rhein Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Robert Schiebe Lauterenstrasse 37 55116 Mainz Germany The District Court of Bingen am Rhein opened bankruptcy proceedings against Schuldnerin Graff Floristik GmbH on Aug. 13. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Schuldnerin Graff Floristik GmbH Bahnhofstr. 66 55218 Ingelheim Germany * Fitch Sees No Systemic Crisis for German Banks ---------------------------------------------- There appears to be no systemic crisis in the German banking sector, according to Fitch Ratings, which recently affirmed its Issuer Default Ratings on German banks. With some US$250 billion (EUR185 billion), German banks hold approximately one fifth of the outstanding liquidity lines to asset-backed commercial paper conduits, according to Fitch estimates. Fitch expects all German ABCP liquidity providers to meet their liabilities, although those with weaker individual ratings are more likely to rely on external support in case of need. "Fitch regards most German banks as currently well positioned to absorb any shock of limited size, since their individual financial strength and their degree of diversification has improved greatly over the last few years," said Ian Linnell, Head of Financial Institutions at Fitch Ratings in London. "However, the system will have to absorb sizeable liquidity shocks as back-stop lines are drawn down." "German banks will also have to absorb increasing risk assets as off-balance-sheet structures are wound up, and bear their share of anticipated sub-prime losses," said Thomas von Luepke, Head of German Banking at Fitch Ratings in Frankfurt. "In addition, they will have to adapt to decreasing revenues from a number of businesses." There are no reliable figures quantifying the share of sub-prime related exposure held in Germany. If 20% of total worldwide exposure were held in Germany and total losses were around 5% of total sub-prime related loans, Fitch estimates that the burden for Germany's banks would still be below 3% of the sector's total equity. Revenues for the second half of 2007 at banks active in structured finance and high yield products are likely to be lower than in the first half or year-earlier period, when banks reported particularly strong results. ============= H U N G A R Y ============= AES CORP: Dominican Subsidiary Restarts Operations -------------------------------------------------- DR1 Newsletter reports that AES-Andres, AES Corp.'s unit in the Dominican Republic, has restarted operations after being shut due to Hurricane Dean. The AES Group admitted to DR1 Newsletter that the hurricane caused some damage to a gas terminal. The AES Group assured that it has sufficient Liquid Natural Gas in reserve to keep operating until the damage is fixed in September 2007, DR1 Newsletter notes. The hurricane damaged part of the liquefied natural gas receiving area. However, the equipment that sends the gas to the Los Mina generation stations was unaffected. The AES Group told DR1 Newsletter that it implemented its contingency plans for natural disasters. Repairs were progressing at a "satisfactory rate." About AES-Andres AES-Andres is a 300-megawatt natural gas generating facility in Santo Domingo, Dominican Republic. It belongs to the AES Group. About AES AES Corp. -- http://www.aes.com/-- is a global power company. The company operates in South America, Europe, Africa, Asia and the Caribbean countries. Specifically, it also has operations in India. Generating 44,000 megawatts of electricity through 124 power facilities, the company delivers electricity through 15 distribution companies. The company's Latin America business group is comprised of generation plants and electric utilities in Argentina, Brazil, Chile, Colombia, Dominican Republic, El Salvador, Panama and Venezuela. AES has been in Eastern Europe for over ten years, since it acquired three power plants in Hungary in 1996. Currently, AES has two distribution companies in Ukraine, which serve 1.2 million customers and generation plants in the Czech Republic and Hungary. AES is also the leading company in biomass conversion in Hungary, generating 37% of the nation's total renewable generation in 2004. * * * On Oct. 20, 2006, Moody's Investors Service's downgraded its B1 Corporate Family Rating for AES Corporation in connection with the implementation of its new Probability-of-Default and Loss- given-default rating methodology. Additionally, Moody's revised its probability-of-default ratings and assigned loss-given- default ratings on the company's loans and bond debt obligations including the B1 rating on its senior unsecured notes 7.75% due 2014, which was also given an LGD4 loss-given default rating, suggesting noteholders will experience a 55% loss in the event of a default. As reported in the Troubled Company Reporter-Latin America on Aug. 23, 2007, Fitch affirmed AES Corporation's Issuer Default Rating at 'B+', and assigned a short-term IDR of 'B'. Fitch also made these rating actions: * AES -- Senior unsecured to 'BB/RR1' from 'BB/RR2' * AES Trust III -- Trust preferred securities to 'B+/RR4' from 'B/RR5'. * AES Trust VII -- Trust preferred securities to 'B+/RR4' from 'B/RR5'. In addition, Fitch affirms these ratings: * AES -- Senior secured credit facility at 'BB+/RR1'; -- Junior secured notes at 'BB+/RR1'. AES CORP: El Salvador Regulator Completes Probe on Firm's Unit -------------------------------------------------------------- El Salvador's antitrust regulator Superintendencia de Competencia has concluded a probe on the alleged monopolistic practices of AES Corp.'s unit AES-Clesa, Business News Americas reports. BNamericas relates that the investigation started in February 2007. Power distributors Caess and Delsur were also probed. Superintendencia de Competencia said in a statement that Caess allegedly blocked the entry of distribution firm B&D, while Delsur blocked that of Abruzzo. According to Superintendencia de Competencia's statement, the regulator's board council will review findings. It will issue a final resolution within three months. Caess, AES-Clesa and Delsur allegedly prevented Edesal from entering the Salvadorian market. The companies could face fines, BNamericas states. About AES-Clesa AES Clesa is an electricity distribution company based in Santa Ana, El Salvador. It serves approximately 257,000 customers in the western region of El Salvador, including Santa Ana, the country's second-largest city, as well as other surrounding areas. AES Clesa is 79.66% owned by AES El Salvador, an indirect subsidiary of AES and Energia Global International. About AES AES Corp. -- http://www.aes.com/-- is a global power company. The company operates in South America, Europe, Africa, Asia and the Caribbean countries. Specifically, it also has operations in India. Generating 44,000 megawatts of electricity through 124 power facilities, the company delivers electricity through 15 distribution companies. The company's Latin America business group is comprised of generation plants and electric utilities in Argentina, Brazil, Chile, Colombia, Dominican Republic, El Salvador, Panama and Venezuela. AES has been in Eastern Europe for over ten years, since it acquired three power plants in Hungary in 1996. Currently, AES has two distribution companies in Ukraine, which serve 1.2 million customers and generation plants in the Czech Republic and Hungary. AES is also the leading company in biomass conversion in Hungary, generating 37% of the nation's total renewable generation in 2004. * * * On Oct. 20, 2006, Moody's Investors Service's downgraded its B1 Corporate Family Rating for AES Corporation in connection with the implementation of its new Probability-of-Default and Loss- given-default rating methodology. Additionally, Moody's revised its probability-of-default ratings and assigned loss-given- default ratings on the company's loans and bond debt obligations including the B1 rating on its senior unsecured notes 7.75% due 2014, which was also given an LGD4 loss-given default rating, suggesting noteholders will experience a 55% loss in the event of a default. As reported in the Troubled Company Reporter-Latin America on Aug. 23, 2007, Fitch affirmed AES Corporation's Issuer Default Rating at 'B+', and assigned a short-term IDR of 'B'. Fitch also made these rating actions: * AES -- Senior unsecured to 'BB/RR1' from 'BB/RR2' * AES Trust III -- Trust preferred securities to 'B+/RR4' from 'B/RR5'. * AES Trust VII -- Trust preferred securities to 'B+/RR4' from 'B/RR5'. In addition, Fitch affirms these ratings: * AES -- Senior secured credit facility at 'BB+/RR1'; -- Junior secured notes at 'BB+/RR1'. ============= I R E L A N D ============= ARAMARK CORP: Moody's Assigns SGL-2 Liquidity Rating ---------------------------------------------------- Moody's Investors Service has assigned an SGL-2 speculative grade liquidity rating to Aramark Corporation. Although free cash flow is expected to be only modestly positive over the next four quarters, the company has a US$600 million committed revolver that matures in 2013 and ample headroom under the financial covenant in its credit facility. Aramark has repaid about US$500 million in secured credit agreement borrowings since the closing of the buyout. The repayments reflect normal seasonal cash flow generation as well as US$285 million in net proceeds from the sale of its interest in SMG. Moody's expects that revolver borrowings may peak at about US$200 million during the first half of fiscal 2008 reflecting the company's seasonal working capital cycle. The credit facility has one financial maintenance covenant, net senior secured debt to EBITDA, with substantial headroom at June 29, 2007. Headquartered in Philadelphia, Pennsylvania, Aramark Corp. (NYSE: RMK) -- http://www.aramark.com/-- is a professional services organization, providing food services, facilities management, hospitality services, and uniforms and career apparel to health care institutions, universities and school districts, stadiums and arenas, businesses, prisons, senior living facilities, parks and resorts, correctional institutions, conference centers, convention centers, and public safety professionals around the world. Aramark has approximately 240,000 employees serving clients in 20 countries, including Belgium, Czech Republic, Germany, Ireland, UK, Mexico, Brazil, Chile, among others. =================== K A Z A K H S T A N =================== AKTAU-KURYLYS SERVICE: Claim Deadline Slated for Sept. 26 --------------------------------------------------------- The Specialized Inter-Regional Economic Court of Mangistau has declared LLP Aktau-Kurylys Service insolvent. Creditors have until Sept. 26 to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Mangistau Micro District 28, 25-12 Aktau Mangistau Kazakhstan Tel: 8 (3292) 40-31-47 AKTOBE TRANSSTROY: Creditors Must File Claims Sept. 25 ------------------------------------------------------ The Specialized Inter-Regional Economic Court of Aktube has declared LLP Aktobe Transstroy Service insolvent. Creditors have until Sept. 25 to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Aktube Altynsarin Str. 31 Aktobe Aktube Kazakhstan Tel: 8 (3132) 21-30-32 ARNA LLP: Claims Filing Period Ends Sept. 25 -------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty has declared LLP Arna insolvent on June 29. Creditors have until Sept. 25 to submit written proofs of claims to: JSC Kazpochta P.O. Box 1 Post Department 57 050057, Almaty Kazakhstan Tel: 8 (3272) 37-03-31 AVIA-TOUR AGENCY: Creditors' Claims Due on Sept. 25 --------------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty has declared LLP Avia-Tour Agency - AVO insolvent on June 29. Creditors have until Sept. 25 to submit written proofs of claims to: JSC Kazpochta P.O. Box 1 Post Department 57 050057, Almaty Kazakhstan Tel: 8 (3272) 37-03-31 ERP-UJNAYA LLP: Claims Registration Ends Sept. 19 ------------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty has declared LLP Erp-Ujnaya (RNN 600510901829) insolvent on June 27. Creditors have until Sept. 19 to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Almaty Makatayev Str. 196-36 Almaty Kazakhstan Tel: 8 (3272) 79-86-66 8 (3272) 79-96-76 8 701 125 56-55 FORNIK LLP: Proof of Claim Deadline Slated for Sept. 25 ------------------------------------------------------- The Specialized Inter-Regional Economic Court of Aktube has declared LLP Fornik insolvent. Creditors have until Sept. 25 to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Aktube Altynsarin Str. 31 Aktobe Aktube Kazakhstan Tel: 8 (3132) 21-30-32 JARYK SAUDA: Creditors Must File Claims Sept. 19 ------------------------------------------------ The Specialized Inter-Regional Economic Court of Kyzylorda has declared LLP Jaryk Sauda insolvent on June 25. Creditors have until Sept. 19 to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Kyzylorda Jahayev Str. 71 Kyzylorda Kazakhstan SERVER LLP: Claims Filing Period Ends Sept. 19 ---------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty has declared LLP Foreign Enterprise - Server (NN 600900078841) insolvent. Creditors have until Sept. 19 to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Almaty Makatayev Str. 196-36 Almaty Kazakhstan Tel: 8 (3272) 79-86-66 8 (3272) 79-96-76 8 701 125 56-55 STROYTECHNOELEMENT LLP: Creditors' Claims Due on Sept. 19 --------------------------------------------------------- The Specialized Inter-Regional Economic Court of Kyzylorda has declared LLP Stroytechnoelement insolvent. Creditors have until Sept. 19 to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Kyzylorda Jahayev Str. 71 Kyzylorda Kazakhstan TAIYNSHA NAN: Claims Registration Ends Sept. 19 ----------------------------------------------- The Specialized Inter-Regional Economic Court of North Kazakhstan has declared LLP Taiynsha Nan insolvent on July 2. Creditors have until Sept. 19 to submit written proofs of claims to: Department of Agriculture Konstitutsiya Kazakhstana Str.38 Petropavlovsk North Kazakhstan Kazakhstan =================== K Y R G Y Z S T A N =================== GELD LLC: Proof of Claim Deadline Slated for September 21 --------------------------------------------------------- LLC Geld has declared insolvency. Creditors have until Sept. 21 to submit written proofs of claim to: LLC Geld Sonkulsky Side Street 46/2 Bishkek Kyrgyzstan Tel: (+ 996 312) 51-15-38 ===================== N E T H E R L A N D S ===================== EURO GALAXY: Moody's Rates EUR13.5 Mln Class E Notes at Ba3 ----------------------------------------------------------- Moody's Investors Service assigned definitive credit ratings to six classes of notes issued by Euro Galaxy II CLO B.V., a Dutch special purpose company. The ratings are: -- Aaa to the EUR275,000,000 Class A Senior Floating Rate Delayed Draw Notes due 2022; -- Aa2 to the EUR36,000,000 Class B Senior Floating Rate Notes due 2022; -- A2 to the EUR27,500,000 Class C Deferrable Interest Floating Rate Notes due 2022; -- Baa3 to the EUR20,000,000 Class D Deferrable Interest Floating Rate Notes due 2022; -- Ba3 to the EUR13,500,000 Class E Deferrable Interest Floating Rate Notes due 2022; and -- A1 to the EUR5,000,000 Class P Combination Notes due 2022. The ratings address the expected loss posed to investors by the legal final maturity in October 2022. The rating of the Class P Combination Notes addresses the expected loss posed to investors by the legal final maturity in 2022 as a proportion of the Rated Balance, where the "Rated Balance" is equal, at any time, to the principal amount of such Combination Notes on the Issue Date minus the aggregate of all payments made from the issue date to such date. It is not an opinion about the ability of the issuer to pay interest. These definitive ratings are based upon: 1. An assessment of the eligibility criteria and portfolio guidelines applicable to the future additions to the portfolio; 2. The protection against losses through the subordination of the more junior classes of notes to the more senior classes of notes; 3. The overcollateralization of the Notes; 4. The proposed currency swap transactions, which insulate the Issuer from the volatility of the foreign currency exchange rates in respect of non-Euro denominated obligations; and the proposed interest rate swap transactions, which substantially mitigate the risk to the Issuer from the potential fixed/floating interest mismatch between the collateral portfolio and the Notes; 5. The expertise of AIG Global Investment Corp. (Europe) Ltd as a collateral manager; and 6. The legal and structural integrity of the issue. This transaction is a high yield collateralized loan obligation related to a collateral portfolio of approximately EUR400 million, comprised primarily of European senior and mezzanine corporate leveraged loans (with a predominance of senior secured loans) and high yield bonds. This portfolio will be dynamically managed by AIG Global Investment Corp. (Europe) Ltd. Any addition or removal of assets will be subject to a number of portfolio criteria. FOOT LOCKER: Incurs US$18 Million Net Loss in Qtr. Ended Aug. 4 --------------------------------------------------------------- Foot Locker Inc. posted a net loss of US$18 million for the second quarter ended Aug. 4, 2007, compared to net income of US$14 million, last year. Second quarter sales decreased 1.5 percent, to US$1,283 million this year compared with sales of US$1,303 million for the corresponding prior year period. Second quarter comparable-store sales decreased 7.3 percent. "Our second quarter results reflected lower than expected sales and the impact of a strategic decision to significantly accelerate the clearance of slow-selling merchandise inventory in our U.S. stores," stated Matthew D. Serra, Foot Locker, Inc.'s Chairman and Chief Executive Officer. "This inventory clearance strategy resulted in markdowns increasing in our U.S. stores by US$50 million, at cost, or US$0.20 per share, versus the second quarter of last year. As a result, we are now better positioned to offer more exciting and compelling products for the fall season. At the same time, the division profit of our international stores increased approximately 20 percent from the same period last year, (excluding the US$17 million pre-tax charge recorded in 2006 to write down long-lived assets pursuant to SFAS 144)." Financial Position At the end of the second quarter, the company's cash and short- term investments totaled US$363 million. The company's cash position, net of debt, increased by US$86 million from the same time last year. During the second quarter, the company repurchased 1.1 million shares of its common stock for US$24 million. For the first six months of the year, the company repurchased 2.3 million shares for US$50 million. The company's merchandise inventory at the end of the second quarter was 1.6 percent lower than at the end of the second quarter last year. Stated in constant currency dollars, the company's merchandise inventory decreased 3.2 percent versus last year. Merchandise inventory in the company's U.S. stores was approximately 4 percent lower than last year, with goods older than 12 months reduced from last year by approximately 40 percent. At the company's international stores, merchandise inventory was essentially flat with last year. Store Base Update During the first six months of the year, the company opened 78 new stores, remodeled/relocated 129 stores and closed 115 stores. At Aug. 4, 2007, the company operated 3,905 stores in 20 countries in North America, Europe and Australia. In addition, seven franchised stores were operating in the Middle East. During the first week of the third quarter, the company converted its Footquarters stores to Foot Locker and Champs Sports outlet stores. During the next six months of 2007, the company currently expects to open approximately 40 stores and, as previously announced, close 135 to 150 unproductive stores. Approximately 90 of the estimated store closings are expected to occur at or near their normal lease expiration and have minimal or no expense impact to the Company. Depending on the outcome of landlord negotiations, 50 to 60 of the stores are expected to close prior to normal lease expiration. The cash costs associated with closing these 135 to 150 stores are expected to be essentially offset by the cash benefits of the working capital reduction. Mr. Serra continued, "Given the uncertainty of several factors that may affect our financial results, we are not providing a financial forecast for the balance of the year at this time. These uncertainties include the current challenging athletic retail environment in the U.S. and incremental costs associated with the closing of the additional stores. In addition, we will continue to assess the impact of the recent merchandise initiatives on the financial results of our domestic businesses during the fall 2007 season. This assessment may include an analysis of the recoverability of store long-lived assets pursuant to SFAS 144 that may result in a non-cash impairment charge." About Foot Locker Headquartered in New York City, Foot Locker, Inc. (NYSE: FL) -- http://www.footlocker-inc.com/-- retails athletic footwear and apparel. The company operates approximately 3,900 athletic retail stores in 17 countries in North America, The Netherlands and Australia under the brand names Foot Locker, Footaction, Lady Foot Locker, Kids Foot Locker, and Champs Sports. The company also has about 350 Footaction stores in the US and Puerto Rico, which sell footwear and apparel to young urbanites. * * * As reported in the Troubled Company Reporter-Latin America on June 21, 2007, Standard & Poor's Ratings Services said its ratings, including the 'BB+' corporate credit rating, on New York City-based specialty footwear retailer Foot Locker Inc. remain on CreditWatch with negative implications. This rating action follows the announcement that Genesco (BB-/Watch Developing/--) accepted an offer from The Finish Line Inc. for USUS$1.53 billion (USUS$54.50 per share) on June 18, 2007. Foot Locker made two bids for Genesco earlier this year, but they were subsequently rejected after Genesco's board concluded the proposals were not in the best interest of its shareholders. KONINKLIJKE AHOLD: Completes Reverse Stock Split ------------------------------------------------ Koninklijke Ahold N.V. disclosed that its reverse stock split became effective after close of trading hours of the New York Stock Exchange on Aug. 22, 2007. The reverse stock split consisted of a consolidation of every five existing shares with a nominal value of EUR0.24 each, into four new shares with a nominal value of EUR0.30 each. Trading in new Ahold shares with the new nominal value commenced on Aug. 22. Ahold received confirmation that no objection has been filed against the capital repayment in connection with the reverse stock split. The date for the capital repayment of EUR1.89 per existing share will be Aug. 28, 2007. The capital repayment is not subject to Dutch dividend withholding tax. Shareholders with questions about their tax status are advised to consult their local tax advisor. For shareholders holding shares through Euroclear Nederland the record date was at the close of trading hours on the Amsterdam Stock Exchange on Aug. 22, 2007. Shareholders who held their shares with a bank or broker should receive a notice from their bank or broker. Shareholders who were registered in the register of Ahold were informed by Ahold about the administrative process. Holders of American Depositary Receipts (ADR) listed on the New York Stock Exchange will be paid in U.S dollars so long as they held their ADRs as of and after close of trading on the New York Stock Exchange on August 22, 2007. If the number of shares held by any one shareholder is not exactly divisible by five, banks and brokers will round positions up or down, depending on the particular contractual arrangements between the bank or broker and the shareholder. About Ahold Headquartered in Amsterdam, Koninklijke Ahold N.V. (fka Royal Ahold) -- http://www.ahold.com/-- retails food through supermarkets, hypermarkets and discount stores in North and South America, Europe. It has operations in Argentina. The company's chain stores include Stop & Shop, Giant, TOPS, Albert Heijn and Bompreco. Ahold also supplies food to restaurants, hotels, healthcare institutions, government facilities, universities, stadiums, and caterers. * * * In a TCR-Europe report on May 11, 2007, Moody's Investors Service placed the Ba1 Corporate Family Rating and the Ba1 Senior Unsecured Long-Term Rating of Koninklijke Ahold N.V. on review for possible upgrade. The action follows the company's announcement that it has agreed to the disposal of its U.S. Foodservice business to private equity funds for US$7.1 billion. As reported in the TCR-Europe on May 7, 2007, Fitch Ratings upgraded the Issuer Default and senior unsecured ratings of Royal Ahold N.V. (nka Koninklijke Ahold N.V.) to 'BB+' from 'BB'. The Outlook on the Issuer Default rating remains Positive. Its Short-term rating is affirmed at 'B'. STREET CLO VI: Fitch Rates EUR13.2 Million Class E Notes at BB -------------------------------------------------------------- Fitch has assigned final ratings to EUR295.8 million of Wood Street CLO VI B.V.'s issue of floating-rate notes: -- EUR210 million Class A-1 senior secured floating-rate notes: 'AAA' -- EUR15 million Class A-2 senior secured floating-rate notes: 'AAA' -- EUR23.7 million Class B senior secured floating-rate notes: 'AA' -- EUR18.4 million Class C senior secured deferrable floating-rate notes: 'A' -- EUR15.5 million Class D senior secured deferrable floating-rate notes: 'BBB' -- EUR13.2 million Class E senior secured deferrable floating-rate notes: 'BB' The transaction is a securitization of leveraged loans including primarily senior secured loans, second lien loans, mezzanine obligations, high yield bonds and structured finance securities. The ratings of the Class A-1, Class A-2 and Class B notes address the ultimate repayment of principal at maturity and the timely payment of interest when due, according to the terms of the notes. For the Class C, D and E notes, which can defer interest, the ratings address the ultimate payment of principal and interest, including deferred interest, at maturity. The ratings are based on the quality and diversity of the portfolio of assets, which are selected by the collateral manager, Alcentra Limited, subject to the guidelines outlined in the collateral management agreement. The ratings are also based on the credit enhancement provided to the various Classes of notes in the form of subordination, structural protection and excess spread. Credit enhancement, in the form of subordination, for the Class A-1 notes totals 33.76%, of which 4.73% is provided by the A-2 notes, 7.48% by the B notes, 5.8% by the C notes, 4.89% by the D notes, 4.16% by the E notes and 6.7% by the unrated subordinated Class of notes. Alcentra will actively manage the collateral over the seven-year reinvestment period. Fitch assigned Alcentra Limited a 'CAM1-' rating for European leveraged loans on May 11, 2007, primarily based on its high level of focus on leveraged loans, and experienced and stable management team. Wood Street CLO VI B.V. is a limited liability company incorporated under the laws of the Netherlands. At the closing date, the issuer is expected to have purchased at least 75% of the target portfolio; the remainder will be purchased over the next 245 days. =========== R U S S I A =========== AREAL CJSC: Creditors Must File Claims by Sept. 4 ------------------------------------------------- Creditors of CJSC Areal have until Sept. 4 to submit proofs of claim to: I. Merkulov Insolvency Manager Post User Box 1 241035 Bryansk Russia The Arbitration Court of Bryansk commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A09-2468/07-28. The Court is located at: The Arbitration Court of Bryansk Room 602 Trudovoy Per. 5 Bryansk Russia The Debtor can be reached at: I. Merkulov Insolvency Manager Post User Box 1 241035 Bryansk Russia ARSLAMBAEVSKIY CJSC: Creditors Must File Claims by Sept. 4 ---------------------------------------------------------- Creditors of CJSC Arslambaevskiy (TIN 7435008311) have until Sept. 4 to submit proofs of claim to: I. Sushkova Temporary Insolvency Manager Post User Box 25700 Magnitogorsk 455000 Chelyabinsk Russia The Arbitration Court of Chelyabinsk will convene at 2:30 p.m. on Jan. 16, 2008 to hear the company's bankruptcy supervision procedure. The case is docketed under Case No. A76-8553/ 2007-36-110. The Court is located at: The Arbitration Court of Chelyabinsk Vorovskogo Str. 2 454091 Chelyabinsk Russia The Debtor can be reached at: CJSC Arslambaevskiy Aptechnyj Per. 10 Atslambaevskiy Nagaybakskiy 457662 Chelyabinsk Russia BASHKIR-AGRO-PROM-DOR-STROY: Claims Filing Period Ends Sept. 4 -------------------------------------------------------------- Creditors of CJSC Bashkir-Agro-Prom-Dor-Story have until Sept. 4 to submit proofs of claim to: A. Abakarov Temporary Insolvency Manager Ufimskoe Shosse 43 Engelsa Str. 1/1 Ufa Bashkortostan Russia The Arbitration Court of Bashkortostan will convene on Sept. 26 to hear the company's bankruptcy supervision procedure. The case is docketed under Case No. A07-3627/07-G-SVI. The Court is located at: The Arbitration Court of Bashkortostan Oktyabrskoy Revolyutsii Str. 63a Ufa Bashkortostan Russia The Debtor can be reached at: CJSC Bashkir-Agro-Prom-Dor-Story Bashkortostan Russia DINA LLC: Creditors Must File Claims by Sept. 4 ----------------------------------------------- Creditors of LLC Company Dina have until Sept. 4 to submit proofs of claim to: N. Proskuryakov Insolvency Manager Apt. 35 Neledina Str. 37 398059 Lipetsk Russia The Arbitration Court of Lipetsk commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A36-95-B-/1-99. The Court is located at: The Arbitration Court of Lipetsk Skorokhodova Str. 2 398019 Lipetsk Russia The Debtor can be reached at: N. Proskuryakov Insolvency Manager Apt. 35 Neledina Str. 37 398059 Lipetsk Russia FASHION OJSC: Kirov Bankruptcy Hearing Slated for Oct. 24 --------------------------------------------------------- The Arbitration Court of Kirov will convene at 9:00 a.m. on Oct. 24 to hear the bankruptcy supervision procedure on OJSC Fashion (OGRN 1024300749362). The case is docketed under Case No. A28-191/07-110/10. The Temporary Insolvency Manager is: G. Storozhuk Office 10 Stepana Khalturina Str. 3 610000 Kirov Russia The Court is located at: The Arbitration Court of Kirov K-Libknekhta Str. 102 610017 Kirov Russia The Debtor can be reached at: OJSC Fashion Lunacharskogo Str. 13 Kirovo-Chepetsk Kirov Russia GAZPROM NEFT: Wants to Buy Yugraneft Out of Sibneft-Yugra --------------------------------------------------------- OAO Gazprom Neft submitted an offer to buy out OAO Yugraneft's remaining 0.98% stake in Sibneft-Yugra, Interfax News reports citing a source privy to the company. Gazprom Neft, formerly known as OAO Sibneft, and Yugraneft had held equal stakes in Sibneft-Yugra until a capital increase was launched, Interfax relates. The capital hike subsequently cut Yugraneft's stake in the joint venture from 50% to 5%, and subsequently to 0.98%. The Arbitration Court of Khanty-Mansiisk Autonomous District has confirmed the validity of the capital increase. About Gazprom Neft Headquartered in Moscow, Russia, OAO Gazprom Neft -- http://www.gazprom-neft.ru/-- explores, produces, refines, markets, produces and sells petroleum products. The Company holds oilfield exploration and development licenses in the Yamal-Nenets and Khanti-Mansiisk autonomous regions, as well as in theOmsk and Tomsk regions, and in Chukotka. The Company's main oil processing center is the Omsk Refinery. Gazprom Neft is one of Russia's largest oil companies handling downstream and upstream operations. It was known as Sibneft before April 2007. * * * As of Aug. 24, 2007, Gazprom Neft carries a Ba1 Corporate Family and Ba2 Senior Unsecured Debt ratings from Moody's. Moody's said the outlook is positive. Gazprom Neft also carries BB+ Long-Term Foreign Issuer Credit and Local Issuer Credit ratings from Standard & Poor's. S&P said the outlook is positive. NOVOSELKOVSKIY DIARY: Creditors Must File Claims by Oct. 4 ---------------------------------------------------------- Creditors of OJSC Novoselkovskiy Diary have until Oct. 4 to submit proofs of claim to: O. Uvarichev Insolvency Manager P. Zheleznyaka Str. 17 660133 Krasnoyarsk Russia The Arbitration Court of Krasnoyarsk commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A33-14708/2006. The Court is located at: The Arbitration Court of Krasnoyarsk Lenina Str. 143 660021 Krasnoyarsk Russia The Debtor can be reached at: OJSC Novoselkovskiy Diary Promyshlennaya Str. 10 Novoselovo Novoselovskiy 662430 Krasnoyarsk Russia PESTRITSY-REM-SERVICE: Names A. Volkov as Insolvency Manager ------------------------------------------------------------ The Arbitration Court of Tatarstan appointed A. Volkov as Insolvency Manager for CJSC Pestritsy-Rem-Service. He can be reached at: A. Volkov Post User Box 72 Chistopol 422986 Tatarstan Russia The Court commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A65-10795/2006. The Court is located at: The Arbitration Court of Tatarstan Room 12 Floor 2 Entrance 2 Building 1 Kremlin Kazan Tatarstan Russia The Debtor can be reached at: A. Volkov Post User Box 72 Chistopol 422986 Tatarstan Russia PROM-SNAB M: Court Names P. Kulikov as Insolvency Manager --------------------------------------------------------- The Arbitration Court of Orenburg appointed P. Kulikov as Insolvency Manager for LLC Prom-Snab M. He can be reached at: P. Kulikov Vasnetsova 7/16 Orsk 462433 Orenburg Russia The Court commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A 47-4625/2007-14 GK. The Court is located at: The Arbitration Court of Orenburg 9th January Str. 64 460046 Orenburg Russia The Debtor can be reached at: LLC Prom-Snab M Novotroitsk Orenburg Russia ROSNEFT OIL: Earns RUR38.3 Billion for First Half 2007 ------------------------------------------------------ OAO Rosneft Oil released its financial results for the first half ended June 30, 2007, prepared according to Russian Accounting Standards, RIA Novosti reports. According to the report, the company posted a 36.2% drop in net profit to RUR38.3 billion for the first half 2007. Rosneft blamed the decline in net profit to: -- penalties imposed on the unpaid taxes of its Yuganskneftegaz unit; -- additional profit taxes imposed on the debt payments received from OAO Yukos Oil Co.; -- cancellation of financial provisions for Yukos' debts; -- exchange rate differences; and -- larger corporate property tax resulting from the consolidation of subsidiaries. About Rosneft Headquartered in Moscow, Russia, OAO Rosneft Oil Co. -- http://www.rosneft.com/-- produces and markets petroleum products. The Company explores for, extracts, refines and markets oil and natural gas. Rosneft produces oil in Western Siberia, Sakhalin, the North Caucasus, and the Arctic regions of Russia. * * * As of July 17, 2007, OAO Rosneft Oil Co. carries a BB+ long-term corporate credit rating from Standard & Poor's Ratings Services. S&P said the outlook is positive. SAN-LES LLC: Perm Bankruptcy Hearing Slated for Oct. 24 ------------------------------------------------------- The Arbitration Court of Perm will convene on Oct. 24 to hear the bankruptcy supervision procedure on LLC San-Les. The case is docketed under Case No. A50-6808/2007-B1. The Temporary Insolvency Manager is: A. Chernov Apt.7 Kommunarov Str. 223 Izhevsk 426076 Udmurtiya Russia The Court is located at: The Arbitration Court of Perm Lunacharskogo Str. 3 Perm Russia The Debtor can be reached at: LLC San-Les Komsomolskiy Pr. 75-1 614000 Perm Russia SERVICE-KHOLOD OJSC: Bankruptcy Hearing Slated for Dec. 11 ---------------------------------------------------------- The Arbitration Court of Moscow will convene at 10:30 a.m. on Dec. 11 to hear the bankruptcy supervision procedure on OJSC Service-Kholod (TIN 7722023962). The case is docketed under Case No. A40-27602/07-74-100 B. The Temporary Insolvency Manager is: I. Lavrushenko Post User Box 48 127560 Moscow Russia The Court is located at: The Arbitration Court of Moscow Novaya Basmannaya Str. 10 Moscow Russia The Debtor can be reached at: OJSC Service-Kholod Mikhaylovskiy Pr. 1 109029 Moscow Russia SIRIUS: Creditors Must File Claims by Sept. 4 --------------------------------------------- Creditors of Municipal Unitary Enterprise Sirius have until Sept. 4 to submit proofs of claim to: N. Volgina Temporary Insolvency Manager Post User Box 329 672000 Chita Russia The Arbitration Court of Chita commenced bankruptcy supervision procedure on the company. The case is docketed under Case No. A78-1088/2007-B-70. The Debtor can be reached at: Municipal Unitary Enterprise Sirius Krasnoarmeyskaya Str. 40 Zabaykalsk Zabaykalskiy 674650 Chita Russia STELS CJSC: Creditors Must File Claims by Sept. 4 ------------------------------------------------- Creditors of CJSC Stels (TIN 7448001874) have until Sept. 4 to submit proofs of claim to: M. Fazylov Insolvency Manager Office 21 M. Karima Str. 45 453733 Bashkortostan Russia The Arbitration Court of Chelyabinsk commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A76-7831/2007-32-75. The Court is located at: The Arbitration Court of Chelyabinsk Vorovskogo Str. 2 454091 Chelyabinsk Russia The Debtor can be reached at: CJSC Stels Chelyabinsk Russia TAIS CJSC: Court Names S. Dzhembulatov as Insolvency Manager ------------------------------------------------------------ The Arbitration Court of Orenburg appointed S. Dzhembulatov as Insolvency Manager for CJSC Tais (TIN 5610027186). He can be reached at: S. Dzhembulatov Proletarskaya Str. 216 460035 Orenburg Russia The Court commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A47-2730/07-14GK. The Court is located at: The Arbitration Court of Orenburg 9th January Str. 64 460046 Orenburg Russia The Debtor can be reached at: S. Dzhembulatov Proletarskaya Str. 216 460035 Orenburg Russia URAL-BREAD-AGRO: Names S. Dzhembulatov as Insolvency Manager ------------------------------------------------------------ The Arbitration Court of Orenburg appointed S. Dzhembulatov as Insolvency Manager for OJSC Ural-Bread-Agro-Industrial Concern (TIN 5610050844). He can be reached at: S. Dzhembulatov Proletarskaya Str. 216 460035 Orenburg Russia The Court commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. A47-2751/07-14GK. The Court is located at: The Arbitration Court of Orenburg 9th January Str. 64 460046 Orenburg Russia The Debtor can be reached at: S. Dzhembulatov Proletarskaya Str. 216 460035 Orenburg Russia VLADIVOSTOKSKIY FISH: Asset Filing Deadline Slated for Aug. 31 -------------------------------------------------------------- LLC Vlad Nedvizhimost, the bidding organizer for OJSC Vladivostokskiy Fish Combine, will open a public auction for the company's properties at: LLC Vlad Nedvizhimost Office 1 Svetlanskaya Str. 145 Vladivostok Russia Interested participants have until Aug. 31 to deposit an amount equivalent to 10% of the starting price to: Settlement Account 40702810500100000132 Correspondent Account 30101810900000000705 OJSC Dalnevostochnyj Bank Vladivostok BIK 040507705 Bidding documents must be submitted to: LLC Vlad Nedvizhimost Office 1 Svetlanskaya Str. 145 Vladivostok Russia The Debtor can be reached at: OJSC Vladivostokskiy Fish Combine Tatarskaya Str. 1 Vladivostok 690000 Primorye Russia * Fitch Gives BB- Rating with Stable Outlook to Murmansk Region --------------------------------------------------------------- Fitch Ratings has assigned the Russian Murmansk region Long-term foreign and local currency 'BB-' ratings and a Short-term foreign currency 'B' rating. A National Long-term 'A+(rus)' rating is also assigned. The Outlooks for the Long-term foreign currency, Long-term local currency and National Long-term ratings are Stable. The ratings reflect the region's low debt burden and strong local economy, which facilitates stable growth in tax revenue and a positive operating balance sufficient to cover debt servicing requirements. The ratings also reflect the Murmansk region's growing budgetary rigidity and relatively low capital expenditure. The Stable Outlooks reflect Fitch's expectation that economic growth will drive revenue growth, allowing the region to strengthen budgetary performance and increase capital investment in a deteriorating infrastructure. The region possesses a sound local economy with a strong industrial basis (39% of GRP in 2005), with the dominance of an export-oriented primary industry. Besides the industrial sector, the important players in the region's economy are the transport and fishing industries. The region is among the top- ten Russian regions in terms of per capita GRP (130% of Russian average in 2005) and possesses a large natural resources endowment. Unique transportation facilities contribute to the importance of the region as a transport hub. The region's total debt burden (direct debt and guarantees) gradually declined from a peak of 28.3% of current revenue in 2003 to a low of 5.5% of current revenue in 2006. Over the same period, the debt structure was changing. Bank loans have been replacing restructured federal budget loans, whose share is expected to fall to almost zero by end-2007 from a peak of 84% of total debt in 2004. Fitch expects the debt to current revenue ratio to be at a single digit level in near future. Budgetary rigidity has been high as current expenditure has averaged 85% of total expenditure in the past five years. Also, there is little room for cutting back current expenditure as staff expenses and transfers of all kinds averaged a high of 75% of total expenditure in 2002-2006. Transfers to municipalities were a major expense, accounting for 62% of operating expenditure in 2006 (up from 35% in 2002). In addition, given the high level of the region's infrastructure deterioration, capital expenditure will probably need to be increased in the future. The Murmansk region is located in the northern European part of the Russian Federation. The region's capital, the City of Murmansk, is the forth-largest sea port in the RF, with a population of over 320,000. The region contributed 0.8% of the GDP in 2006 and accounted for 0.6% of its population. ===================== S W I T Z E R L A N D ===================== ANALYSER SYSTEMS: Creditors' Liquidation Claims Due September 3 --------------------------------------------------------------- Creditors of JSC Analyser Systems have until Sept. 3 to submit their claims to: Urs J. Hausheer Liquidator Untermuli 6 6300 Zug Switzerland The Debtor can be reached at: JSC Analyser Systems Zug Switzerland ELEKTRO NAGELE: Thurgau Court Starts Bankruptcy Proceedings ----------------------------------------------------------- The Bankruptcy Court of Thurgau commenced bankruptcy proceedings against LLC Elektro Nagele on March 13. The Bankruptcy Service of Thurgau can be reached at: Bankruptcy Service of Thurgau 8510 Frauenfeld TG Switzerland The Debtor can be reached at: LLC Elektro Nagele Alpenrosenstrasse 2 8280 Kreuzlingen TG Switzerland JORDIN JSC: Creditors' Liquidation Claims Due September 5 --------------------------------------------------------- Creditors of JSC Jordin have until Sept. 5 to submit their claims to: Heinz Bhend Liquidator Seefeldstrasse 96 8034 Zurich Switzerland The Debtor can be reached at: JSC Jordin Zurich Switzerland PARTNERS-IMMO-FINANCES: Zug Court Starts Bankruptcy Proceedings --------------------------------------------------------------- The Bankruptcy Court of Zug commenced bankruptcy proceedings against LLC Partners-Immo-Finances on July 25. The Bankruptcy Service of Zug can be reached at: Bankruptcy Service of Zug 6300 Zug Switzerland The Debtor can be reached at: LLC Partners-Immo-Finances Baarerstrasse 75 6300 Zug Switzerland TRAILER JSC: Creditors' Liquidation Claims Due September 3 ---------------------------------------------------------- Creditors of JSC Trailer have until Sept. 3 to submit their claims to: Urs Taufenecker Liquidator Schutzenstrasse 1 Mail box: 6139 8023 Zurich Switzerland The Debtor can be reached at: JSC Trailer Spreitenbach Baden AG Switzerland ============= U K R A I N E ============= BERDICHEV-KHOLOD CJSC: Proofs of Claim Deadline Set August 28 ------------------------------------------------------------- Creditors of CJSC Berdichev-Kholod (code EDRPOU 30261710) have until Aug. 28 to submit written proofs of claim to: The Economic Court of Zhytomir Putiatinskiy Square 3/65 10014 Zhytomir Ukraine The Economic Court of Zhytomir commenced bankruptcy supervision procedure on the company. The case is docketed under Case No. 7/68-b. The Debtor can be reached at: CJSC Berdichev-Kholod Volodarsky Str. 65 Berdichev Zhytomir Ukraine DOBRA LLC: Proofs of Claim Deadline Set August 28 ------------------------------------------------- Creditors of LLC Dobra (code EDRPOU 03791315) have until Aug. 28 to submit written proofs of claim to: Valentine Shepotinnik Temporary Insolvency Manager Dzerzhynsky Str. 64-A 25006 Kirovograd Ukraine The Economic Court of Cherkassy commenced bankruptcy supervision procedure on the company on June 26. The case is docketed under Case No. 14/3057. The Court is located at: The Economic Court of Cherkassy Shevchenko Avenue 307 18005 Cherkassy Ukraine The Debtor can be reached at: LLC Dobra Dobra Mankovsky District 20142 Cherkassy Ukraine IMPEX-TK LTD: Creditors Must File Claims by August 28 ----------------------------------------------------- Creditors of have until Aug. 28 to submit written proofs of claim to: The Economic Court of Odessa Shevchenko Avenue 4 65032 Odessa Ukraine The Economic Court of Odessa commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. 2/111-07-4343. The Debtor can be reached at: LLC Impex-TK Ltd. Kalantaevskaya Str. 27/33 Odessa Ukraine KARA-GOL LLC: Proofs of Claim Deadline Set August 28 ---------------------------------------------------- Creditors of LLC Kara-Gol (code EDRPOU 22291050 have until Aug. 28 to submit written proofs of claim to: Vasily Shvaykin Temporary Insolvency Manager Apartment 4 Sebastopol Str. 41/2 Simferopol 95000 AR Krym Ukraine The Economic Court of AR Krym commenced bankruptcy supervision procedure on the company on July 2. The case is docketed under Case No. 2-17/550-2007. The Court is located at: The Economic Court of AR Krym Karl Marks Str. 18 Simferopol 95000 AR Krym Ukraine The Debtor can be reached at: LLC Kara-Gol Yuzhnoberezhnoe Highway 1/4 Gaspra Yalta 98660 AR Krym Ukraine MINE BORING: Creditors Must File Claims by August 28 ---------------------------------------------------- Creditors of State OJSC Special Mine Boring (code EDRPOU 00174777) have until Aug. 28 to submit written proofs of claim to: Anatoly Ivashchenko Liquidator October Str. 82/a 83050 Donetsk Ukraine The Economic Court of Donetsk commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. 45/8B. The Court is located at: The Economic Court of Donetsk Artema Str. 157 83048 Donetsk Ukraine The Debtor can be reached at: State OJSC Special Mine Boring Magdeburg Str. 1 87038 Donetsk Ukraine MOTO-DOR LLC: Creditors Must File Claims by August 28 ----------------------------------------------------- Creditors of LLC Moto-Dor (code EDRPOU 25488936) have until Aug. 28 to submit written proofs of claim to: The Court is located at: The Economic Court of Zaporozhje Shaumiana Str. 4 69001 Zaporozhje Ukraine The Economic Court of Zaporozhje commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. 21/219-25/261. The Debtor can be reached at: LLC Moto-Dor Kirov Str. 175 Melitopol 72319 Zaporozhje Ukraine ORMIS LLC: Creditors Must File Claims by August 28 -------------------------------------------------- Creditors of LLC Ormis (code EDRPOU 32379695) have until Aug. 28 to submit written proofs of claim to: Denis Maliusika Liquidator Apartment 48 Lukianovskaya Str. 63 04071 Kiev Ukraine The Economic Court of Kiev commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. 15/160-b. The Court is located at: The Economic Court of Kiev B. Hmelnitskij Boulevard 44-B 01030 Kiev Ukraine The Debtor can be reached at: LLC Ormis V. Khvoyka Str. 21 04080 Kiev Ukraine UDICH-SUGAR LLC: Proofs of Claim Deadline Set August 28 ------------------------------------------------------- Creditors of LLC Udich-Sugar (code EDRPOU 33048903) have until Aug. 28 to submit written proofs of claim to: The Economic Court of Vinnica Hmelnickiy Str. 7 21036 Vinnica Ukraine The Economic Court of Vinnica commenced bankruptcy supervision procedure on the company. The case is docketed under Case No. 10/153-07. The Debtor can be reached at: LLC Udich-Sugar Zavodskaya Str. 1 Udich Teplitsky District 23853 Vinnica Ukraine VIDRODZHENNIA LLC: Creditors Must File Claims by August 28 ---------------------------------------------------------- Creditors of Agricultural LLC Vidrodzhennia (code EDRPOU 03732755) have until Aug. 28 to submit written proofs of claim to: The Economic Court of Vinnica Hmelnickiy Str. 7 21036 Vinnica Ukraine The Economic Court of Vinnica commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. 5/283-07. The Debtor can be reached at: Agricultural LLC Vidrodzhennia Lenin Str. 1 Yarovoe Shargorod District 23550 Vinnica Ukraine ZLAGODA OJSCAL: Creditors Must File Claims by August 28 ------------------------------------------------------- Creditors of OJSCAL Zlagoda (code EDRPOU 308085061) have until Aug. 28 to submit written proofs of claim to: The Economic Court of Vinnica Hmelnickiy Str. 7 21036 Vinnica Ukraine The Economic Court of Vinnica commenced bankruptcy proceedings against the company after finding it insolvent. The case is docketed under Case No. 10/152-07. The Debtor can be reached at: OJSCAL Zlagoda Vatutin Str. 9 Shargorod 23500 Vinnica Ukraine =========================== U N I T E D K I N G D O M =========================== ACCORD INTERNATIONAL: Claims Filing Period Ends September 27 ------------------------------------------------------------ Creditors of Accord International Trading Co. Ltd. (formerly Shelfco (No 1285) Ltd.) have until Sept. 27 to send in their full names, their addresses and descriptions, full particulars of their debts or claims and the names and addresses of their solicitors (if any) to: Vincent John Green Joint Liquidator Vantis Business Recovery Services Judd House 16 East Street Tonbridge TN9 1HG England Vincent John Green and Mark Newman of Vantis Business Recovery Services were appointed joint liquidators of the company on Aug. 16 for the creditors' voluntary winding-up proceeding. AEFOS LTD: C. B. Barrett Leads Liquidation Procedure ---------------------------------------------------- C. B. Barrett of Tenon Recovery was appointed liquidator of Aefos Ltd. on Aug. 16 for the creditors' voluntary winding-up procedure. Creditors of the company are required to send their names and addresses and particulars of their claims to the liquidator within three months following the date of liquidation. The liquidator can be reached at: Tenon Recovery Clive House Clive Street Bolton BL1 1ET England AEOLUS CDO: S&P Rates GBP8 Million Class E Notes at BB- ------------------------------------------------------- Standard & Poor's Ratings Services assigned its preliminary credit ratings to the GBP104 million secured credit-linked floating-rate notes (Colonnade IV) to be issued by Aeolus CDO Ltd. The transaction will be a synthetic CDO with certain cash flow CDO features. Since the ABS reference obligations are synthetically referenced, the excess spread modeled in the cash flows and used to pay the notes will actually come from the amounts paid quarterly by the CDS counterparty to the issuer under the CDS. The issuer itself will purchase protection against losses through the issue of credit-linked notes referenced to that portfolio. The proceeds of the credit-linked notes will be invested in 'AAAm' rated collateral securities to support the notes. The notes will be secured over the collateral and agreements. The reference portfolio is expected to be 80% ramped up at closing and fully ramped up within six months from closing. The weighted-average life is expected to be approximately 7.55 years at closing. There will be a six-year replenishment period. Ratings List Aeolus CDO Ltd. GBP120.8 Million Secured Credit-Linked Floating-Rate Notes (Colonnade IV) Prelim. Prelim. Amount Class Rating (Mln. GBP) ----- ------ -------- A AAA 32.0 B AA 21.3 C A 21.4 D BBB- 21.3 E BB- 8.0 Subordinated NR 16.8 NR -- Not rated. BAA LTD: Two Media Relations Chiefs Quit Over Media Clampdown ------------------------------------------------------------- BAA Ltd. (fka BAA plc) has confirmed the resignation of two of its media relations chiefs, AFX News reports. According to the report, Mark Mann, head of media relations, and Duncan Bonfield, corporate affairs director, quit after BAA's Spanish owner Grupo Ferrovial SA imposed a media clampdown following heavy criticisms hurled at the British airports operator for its management of Heathrow. The Daily Telegraph says Messrs. Mann and Bonfield were instructed not to speak to the press, although they were allowed to answer routine factual questions. BAA revealed Mr. Bonfield will accept a role with another company. BAA declined to elaborate further on the departure of the two executives but stated, "there's an orderly transition in place to renew the communications area." Malcolm Robertson, the director of communications for BAA Scotland and BAA's public affairs director, has been appointed as interim group communications director with immediate effect, AFX News relates. However, the appointment is on a temporary basis while BAA seeks for a group director of corporate and public affairs. BAA already lost nine senior executives since the Ferrovial takeover, Alistair Osborne writes for the Daily Telegraph. About BAA Headquartered in London, United Kingdom, BAA Ltd. (fka BAA plc) -- http://www.baa.com/-- owns and operates seven airports in the United Kingdom, including Heathrow, the world's busiest international airport, and Budapest Airport, serving 700 destinations by around 300 airlines. In June 2006, BAA was bought by a consortium led by Grupo Ferrovial SA, the Spanish construction company. Ferrovial is one of the world's leading construction groups, specializing in four strategic lines of business - airports, construction, transport infrastructure and services - throughout Spain, the U.K., Portugal and nine other countries in Europe and the rest of the world. The company has around 89,000 employees and a net revenue of EUR12.4 billion. * * * As of July 20, 2007, BAA Ltd. (fka BAA plc) carries an issuer rating of Ba1 from Moody's Investor Service. BRITISH AIRWAYS: U.S. Court Upholds US$300 Mln Price Fixing Fine ---------------------------------------------------------------- The U.S. District Court for the District of Columbia has approved the plea agreement between British Airways plc and the U.S. Department of Justice on fines of US$300 million for infringements of competition law in the company's long-haul passenger and cargo businesses. The court agreed that the substantial cooperation provided by British Airways to the U.S. government justified a significant reduction in fines which under Sentencing Guidelines ranged from US$450 million to US$900 million. "As I have previously stated any anti-competitive behavior is to be condemned at British Airways or at other companies. It will not be tolerated and we remain vigilant in this respect," Willie Walsh, chief executive of British Airways, said. The court decision concludes the DoJ's criminal investigation into British Airways. The DoJ's investigation into the conduct of individuals continues. "[Thurs]day's sentencing demonstrates that those who violate the antitrust laws and seek to deny American consumers and businesses the benefits of competition will be held accountable for their actions," Scott D. Hammond, deputy assistant attorney general for criminal enforcement of the DOJ's Antitrust Division, said. "The Antitrust Division is actively continuing its investigation into the air transportation industry." According to the Scotsman, investigation will now center on whether senior BA staff should be penalized for their involvement in the price fixing of passenger fuel charges. As previously reported in the TCR-Europe on Aug. 8, 2007, it was speculated that current BA executives, who are not protected by the plea agreement, would be among those the DOJ will name during the arraignment. However, the DOJ did not mention any names in the court. Former BA executives Martin George and Iain Burns were earlier identified in connection with the case. The two executives, who resigned last year, may face criminal charges, The Sunday Telegraph relates. A report in the Class Action Reporter on Aug. 6, 2007, relates that the decisions by competition regulators in the U.S. and U.K. to fine BA for colluding to fix surcharges on tickets are expected to spark class actions against the company. As many as 20 million passengers could file claims of up to GBP165 per return flight against the company, lawyers said, according to The Scotsman. The U.S. law firm Cohen, Milstein, Hausfeld & Toll has told The Scotsman it planned to launch proceedings against the airlines. It has a London office, which will co-ordinate U.K. clients. DOJ Probe On Aug. 1, 2007, the DOJ revealed that BA has agreed to plead guilty and pay US$300 million criminal fines for its role in conspiracies to fix the prices of passenger and cargo flights. The charges against the airline were filed in the U.S. District Court for the District of Columbia. The DOJ said that passengers who flew on BA flights between the U.K. and the U.S. during the charged period paid more for their tickets as a result of the illegal cartel. In 2004, BA's fuel surcharge for round-trip passenger tickets was around US$10 per ticket. By the time the passenger conspiracy was cracked in 2006, the surcharge was nearly a 10-fold increase to US$110 per ticke, the Department said. The Department noted that during the air cargo conspiracy, BA's fuel surcharge on shipments to and from the U.S. changed more than 20 times and increased from four cents per kilogram of cargo shipped to as high as 72 cents per kilogram. BA is charged with engaging in a conspiracy to suppress and eliminate competition by fixing the rates charged to customers for international air shipments of cargo, including shipments to and from the U.S. Billions of dollars of consumer and other goods, including produce, clothing, electronics and medicines, are shipped by BA and its competitors in the air cargo industry. BA participated in that conspiracy between March 2002 and February 2006. The Department also charged that between August 2004 and February 2006, BA engaged in a conspiracy to suppress and eliminate competition by fixing the fuel surcharge charged to passengers on long-haul international flights, including flights between the U.S. and the U.K. BA's long-haul flights are flights between the U.K. and certain foreign destinations, including any flight to and from the U.S. Passengers pay hundreds of millions of dollars in ticket prices each year, and the conspiracy raised the price on virtually every ticket purchased between 2004 and 2006 for the conspirators' long-haul international flights, the Department said. BA is charged with carrying out the two price-fixing conspiracies with co-conspirators by, among other methods: * participating in meetings, conversations, and communications to discuss the cargo rates on shipments to and from the U.S. and passenger fuel surcharges to be charged for flights between the U.S. and the U.K.; * agreeing, during those meetings, conversations, and communications, on certain components of the cargo rates on shipments to and from the U.S. and passenger fuel surcharges to levy for flights between the U.S. and the U.K.; * levying cargo rates and passenger fuel surcharges in accordance with the agreements reached; and * engaging in meetings, conversations, and communications to monitor and enforce the agreed-upon rates. BA is charged with two counts of price fixing in violation of the Sherman Act. Each count of the Sherman Act carries a maximum sentence of 10 years of imprisonment for individuals and a fine of US$100 million for corporations. The maximum fine may be increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime, if either of those amounts is greater than the statutory maximum fine. OFT Probe As previously reported in the TCR-Europe on Aug. 2, 2007, BA has admitted collusion over the price of "long-haul passenger fuel surcharges" and will pay a penalty of GBP121.5 million to be imposed by the U.K. Office of Fair Trading, thus enabling the OFT to close its civil investigation and resolve this case. The penalty will be the highest ever imposed by the OFT for infringements of competition law, and demonstrates the determination of the OFT to deal vigorously with anti- competitive behavior. BA has admitted that between August 2004 and January 2006, it colluded with Virgin Atlantic over the surcharges which were added to ticket prices in response to rising oil prices. Over that period, the surcharges rose from GBP5 to GBP60 per ticket for a typical BA or Virgin Atlantic long-haul return flight. Virgin Atlantic is not expected to pay any penalty as it qualifies in principle for full immunity under the OFT's leniency policy. Under this policy, a company which has been involved in cartel conduct and which is the first to give full details about it to the OFT will qualify for immunity from penalties in relation to that conduct. In addition, any company staff involved in the price fixing disclosed will qualify for immunity from criminal prosecution in relation to that conduct. The OFT's investigation was prompted after Virgin Atlantic came forward with information about price fixing with BA over the surcharges. BA has also provided full co-operation with the OFT's investigation under the leniency program and this is reflected in the penalty . BA accepts the OFT's finding that on at least six occasions the two companies discussed and/or informed each other about proposed changes to the level of the surcharges, rather than setting levels independently as required under clear and well-established competition law principles. The OFT's investigation was conducted in parallel with a similar case brought by the United States Department of Justice. The investigations by the OFT and DoJ were separate but the two agencies have consulted each other closely throughout. In addition to the investigation into BA's corporate conduct under civil competition law, the OFT is also conducting a criminal investigation into whether any individuals dishonestly fixed the levels of the surcharges - an offence under the Enterprise Act. The corporate admission by British Airways that it infringed civil competition law does not imply that any individuals dishonestly fixed prices contrary to the Enterprise Act. The criminal investigation is ongoing and no conclusions have been reached as to whether criminal proceedings against individuals can or should be brought. BA previously disclosed that it made a provision of GBP350 million for the claims. "The figure is our best estimate and that remains the case, " a BA spokesman was quoted by The Sunday Telegraph as saying. However, he stressed that the provision is not a ceiling for the total of penalties and civil claims. Headquartered in West Drayton, United Kingdom, British Airways Plc -- http://www.ba.com/-- operates of international and domestic scheduled and charter air services for the carriage of passengers, freight and mail, and provides of ancillary services. The British Airways group consists of British Airways Plc and a number of subsidiary companies including in particular British Airways Holidays Ltd. and British Airways Travel Shops Ltd. BA has offices in India and Guatemala. * * * As reported in the TCR-Europe on Aug. 16, 2007, Moody's Investors Service upgraded the senior unsecured rating of British Airways plc to Ba1, one notch lower than the Corporate Family Rating (upgraded to Baa3, stable outlook), reflecting the subordination of unsecured debt to a substantial portion of secured debt. The debt instruments affected by the rating action are: -- GBP100 million 10.875% senior unsecured notes due 2008 to Ba1 from Ba2; -- GBP250 million 7.25% senior unsecured notes due 2016 to Ba1 from Ba2; -- US$115 million 5.25% and US$85 million 7.625% senior unsecured industrial revenue notes due 2032 to Ba1 from Ba2; -- EUR300 million 6.75% perpetual guaranteed preferred securities to Ba2 from Ba3 (issued by British Airways Finance (Jersey) L.P.). CABLE & WIRELESS: Unit Says Networks Unaffected by Hurricane ------------------------------------------------------------ Cable & Wireless' Jamaican unit told the Jamaica Gleaner that its mobile and fixed networks are continuing operations, unaffected by Hurricane Dean. The Gleaner relates that Cable & Wireless conducted a comprehensive assessment of its two networks in Jamaica. Cable & Wireless said in a statement that there were some service interruptions. However, most of the major faults have been corrected and the company's repair crews are working to address all "outstanding issues." The Gleaner notes that the major issues that have been addressed were: -- the microwave line connecting St. Thomas into Cable & Wireless' mobile network; and -- the fiber optic cable that affected service in Manchester, St. Elizabeth and Clarendon. Cable & Wireless' corporate communications and corporate affairs vice president Errol K. Miller said in a statement that the priority areas that remain to be corrected and that are actively being addressed are: -- the Mandeville Exchange, where about 1,000 customer are without fixed line service because the exchange was flooded and equipment damaged; -- an antennae in Laughlands in, St. Ann, that was blown out to another antennae at Huntley in, St. Elizabeth, which was also blown out and is affecting service in Whitehouse, Junction, Malvern, Thornton and Siloah; -- the flooded equipment in Old Harbour Bay, St. Catherine, has left the area without service; and -- a problem with a generator is affecting service in the Tower Isle St. Ann area. Interrupted service in some areas may be due to the lack of the public power supply, The Gleaner relates. Service will be restored as soon as the power is back. "Once again, Cable & Wireless is reminding the public not to cut telephone cables that may have come loose from poles or were shifted out of position. If the cable is not broken, service will remain uninterrupted. Cable & Wireless is therefore strongly appealing to members of the public not to cut or otherwise damage these cables. Instead, the company is asking that all such occurrences be reported to its Emergency Control Centre at 929-9834 or 926-9283 and a crew will be dispatched to carry out repairs as soon as it is safe to do so. In addition, the company's call centre should be fully operational at noon today and customers are being encouraged to report any and all issues by calling, charge free to1-888-225-5295," Mr. Miller said in a statement. Headquartered in London, Cable & Wireless Plc -- http://www.cw.com/new/-- provides voice, data and IP (Internet Protocol) services to business and residential customers, as well as services to other telecoms carriers, mobile operators and providers of content, applications and Internet services. The company has operations are in the United Kingdom, India, China, the Cayman Islands and the Middle East. * * * In April 2007, in connection with the implementation of its new Probability-of-Default and Loss-Given-Default rating methodology for the corporate families in the Telecommunications, Media and technology sector, Moody's Investors Service confirmed its Ba3 Corporate Family Rating for Cable & Wireless Plc. Moody's also assigned a Ba3 Probability-of-Default rating to the company. * Issuer: Cable & Wireless Plc Projected Debt LGD Loss-Given Debt Issue Rating Rating Default ---------- ------- ------- -------- 4% Senior Unsecured Conv./Exch. Bond/Debenture Due 2010 B1 LGD4 60% GBP200 million 8.75% Senior Unsecured Regular Bond/Debenture Due 2012 B1 LGD4 60% CAIRN EURO: Fitch Assigns BB- Ratings to Class C Notes ------------------------------------------------------ Fitch has assigned final ratings to Cairn Euro ABS CDO I PLC's issue of EUR350 million floating-rate notes due 2087 and EUR4.75 million Class X senior floating-rate notes note due 2015. The transaction is a managed securitization of structured finance assets, primarily consisting of European mezzanine residential and commercial mortgage-backed securities and CDOs. -- EUR4.75 million Class X senior floating-rate notes: 'AAA' -- EUR262.5 million Class A1S floating-rate notes: 'AAA' -- EUR13.3 million Class A1J floating-rate notes: 'AAA' -- EUR24.5 million Class A2 floating-rate notes: 'AA' -- EUR19.25 million Class A3 deferrable floating-rate notes: 'A-' -- EUR10.85 million Class B deferrable floating-rate notes: 'BBB-' -- EUR6.475 million Class C deferrable floating-rate notes: 'BB-' -- The EUR13.125 million subordinated notes are not rated. The Class X, A1S, A1J and A2 notes ratings address the ultimate repayment of principal at maturity and the timely payment of interest when due, according to the terms of the notes. The Class A3, B and C notes ratings address the ultimate payment of principal and interest, including deferred interest, at maturity according to the terms of the notes. Credit enhancement for the Class A1S notes, in the form of subordination, totals 24.63%, and is provided by the Class A1J notes (3.82%), Class A2 notes (7.03%), Class A3 notes (5.53%), Class B notes (3.12%), Class C notes (1.86%) and subordinated notes (3.28%). The ratings also take into account the quality and diversity of the portfolio of assets, which are selected by the collateral manager, Cairn Financial Products Limited, subject to the guidelines outlined in the collateral management agreement. The guidelines limit the collateral manager's portfolio allocations with respect to obligor, sector and asset type. Fitch assigned a CDO Asset Manager Rating of 'CAM2-' for structured finance CDOs to Cairn Financial Products Limited on July 13, 2007, based primarily on Cairn's highly successful, albeit recently established, business franchise, the deep experience of the executive management team and the demonstrated commitment to the core CDO platforms. At closing 94.3% of the target par amount of EUR348.3 million is currently ramped and the portfolio comprised 76 assets with a weighted average rating factor of 5.02 (commensurate with a weighted average rating of 'BBB'/'BBB-'). The structured finance securities include mainly cash and synthetically- referenced RMBS, CMBS, consumer ABS and CLO securities. The current weighted average life is 6.47 years. Amortizing proceeds will only be reinvested over the first five years following the ramp-up period. CODEX INTEGRATION: Claims Filing Period Ends October 10 ------------------------------------------------------- Creditors of Codex Integration Ltd. have until Oct. 10 to send their names and addresses, and particulars of their claims to: David Antony Willis and Matthew Colin Bowker Joint Liquidators Tenon Recovery The Exchange Harrogate HG1 1TS England David Antony Willis and Matthew Colin Bowker of Tenon Recovery were appointed joint liquidators of the company on Aug. 10 for the creditors' voluntary winding-up procedure. COUNTRY ARTISTS: Lloyds TSB Appoints KPMG as Receivers ------------------------------------------------------ Lloyds TSB Bank Plc appointed Mark Jeremy Orton and Allan Watson Graham of KPMG LLP joint administrative receivers of Country Artists Ltd. (Company Number 01350860) on Aug. 10. KPMG LLP -- http://www.kpmg.co.uk/-- offers accounting, audit, and tax-related services to customers in such target industries as banking, media and entertainment, consumer products, health care providers, insurance, and pharmaceuticals. The company can be reached at: Country Artists Ltd. Country Artists House Loxley Road Wellesbourne Warwick CV35 9JY England DOMAIN CHOICES: Names Nigel Hamilton-Smith Liquidator ----------------------------------------------------- Nigel Hamilton-Smith of Vantis was appointed liquidator of Domain Choices Ltd. on Aug. 15 for the creditors' voluntary winding-up procedure. The liquidator can be reached at: Vantis Torrington House 47 Holywell Hill St. Albans Hertfordshire AL1 1HD England DURA AUTOMOTIVE: Files Reorganization Plan in Delaware ------------------------------------------------------ DURA Automotive Systems Inc. and its debtor-affiliates filed their Plan of Reorganization and related Disclosure Statement with the U.S. Bankruptcy Court for the District of Delaware. The Plan and Disclosure Statement provide details on how DURA intends to treat more than US$1.3 billion of claims and emerge from Chapter 11 protection in the fourth quarter of 2007. "[Tues]day represent[ed] another significant step towards achieving our goal of quickly emerging from Chapter 11 as a stronger, more competitive company," said Larry Denton, chairman and chief executive officer of Dura Automotive Systems. "This plan lays the foundation for DURA to intensify its Global Automotive focus and deliver unrivaled value to our customers. A solid financial structure, attractive to both top industry talent and capital investments, will bolster our ability to offer breakthrough innovation and cost-competitive products." DURA's Plan provides for these creditor recoveries: -- Cash payment in full of all allowed debtor-in-possession claims, administrative expenses, priority claims and second lien secured claims; -- Conversion of allowed senior notes and allowed general unsecured claims of more than US$75,000 into between 57.4% to 60.7% of reorganized DURA's new common stock; and -- Cash payment in lieu of an equity distribution of all allowed trade claims and allowed general unsecured claims of US$75,000 or less. The Plan further provides that there will be no recoveries for subordinated notes' and convertible preferred securities' claims, nor will the Debtors common stock holders receive any recoveries. The Plan will be partly funded through exit financing that the Debtors intends to procure prior to emergence. Additional Plan funding will come from a fully backstopped new money equity investment of between US$140 million to US$160 million in exchange for between 39.3% and 42.6% of Reorganized Dura's common stock. Senior notes claims holders that are accredited investors will be eligible to subscribe for their pro rata shares of the new money investment. On Aug. 15, 2007, the Bankruptcy Court authorized the Debtors to enter into an Amended Backstop Agreement with Pacificor LLC to provide the backstop commitment for the new money equity investment. Pursuant to its backstop commitment, Pacificor will purchase any reorganized DURA common stock not subscribed for by senior notes claims holders. Additional Information and Next Steps The Disclosure Statement is intended to provide DURA's creditors with sufficient information necessary to evaluate and vote on the Plan. Descriptions of creditor classes, a valuation analysis of the Debtors, and details on the voting process and voter eligibility requirements are included in the Disclosure Statement. A hearing is scheduled for Sept. 26, 2007, at which time the Court will evaluate DURA's Disclosure Statement to determine whether it contains "adequate information" to enable creditors to vote to accept the Plan. The Court will approve Plan solicitation procedures and materials that will allow the Debtors to solicit votes to accept the Plan. The Court will also set a hearing date for Plan confirmation. Once the Disclosure Statement and solicitation procedures and materials have been approved, the Debtors balloting agent will distribute ballots and accompanying support materials to parties eligible to vote to accept or reject the Plan. DURA was advised by AlixPartners, Kirkland & Ellis and Miller Buckfire in connection with its Chapter 11 reorganization. No Solicitation Neither the Disclosure Statement that was filed today nor this press release are solicitations for votes to accept the Plan. Parties should refer to the Plan and the Disclosure Statement for information regarding the Plan, creditor recoveries contemplated thereby and other related matters. About DURA Automotive Rochester Hills, Mich.-based DURA Automotive Systems Inc. (Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a supplier of similar products to the recreation vehicle and specialty vehicle industries. DURA sells its automotive products to North American, Japanese and European original equipment manufacturers and other automotive suppliers. The company has three locations in Asia -- China, Japan and Korea. It has locations in Europe and Latin-America, particularly in Mexico, Germany and the United Kingdom. The Debtors filed for chapter 11 petition on Oct. 30, 2006 (Bankr. D. Del. Case No. 06-11202). Richard M. Cieri, Esq., Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq., Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of Richards Layton & Finger, P.A. Attorneys are the Debtors' co- counsel. Baker & McKenzie acts as the Debtors' special counsel. Togut, Segal & Segal LLP is the Debtors' conflicts counsel. Miller Buckfire & Co., LLC is the Debtors' investment banker. Glass & Associates Inc., gives financial advice to the Debtor. Kurtzman Carson Consultants LLC handles the notice, claims and balloting for the Debtors and Brunswick Group LLC acts as their Corporate Communications Consultants for the Debtors. As of July 2, 2006, the Debtor had US$1,993,178,000 in total assets and US$1,730,758,000 in total liabilities. HUMBERSIDE PRESSURE: Claims Filing Period Ends September 13 ----------------------------------------------------------- Creditors of Humberside Pressure Cleaning Systems Ltd. have until Sept. 13 to send their names and addresses and particulars of their claims to: M. C. Bowker and D. A. Wills Joint Liquidators Tenon Recovery Lowgate House Lowgate Hull HU1 1EL England M. C. Bowker and D. A. Wills of Tenon Recovery were appointed joint liquidators of the company on Aug. 8 for the creditors' voluntary winding-up proceeding. INTER-ALLIANCE LTD: Taps Liquidators from PricewaterhouseCoopers ---------------------------------------------------------------- Ian Christopher Oakley-Smith and Michael John Andrew Jervis of PricewaterhouseCoopers LLP were appointed joint liquidators of Inter-Alliance (Group Practices) Ltd. (formerly Inter-Alliance Plc) on Aug. 14 for the creditors' voluntary winding-up procedure. The joint liquidators can be reached at: PricewaterhouseCoopers LLP 12 Plumtree Court London EC4A 4HT England The company can be reached at: Inter-Alliance (Group Practices) Ltd. First Floor Knollys House 17 Addiscombe Road Croydon Surrey CR0 6SR England SALTBURN PUB: Appoints Michael C. Kienlen as Liquidator ------------------------------------------------------- Michael C. Kienlen of Armstrong Watson was appointed liquidator of Saltburn Pub Co. Ltd. (t/a The Victoria Pub) on Aug. 8 for the creditors' voluntary winding-up procedure. The liquidator can be reached at: Armstrong Watson Central House 47 St. Paul's Street Leeds LS1 2TE England SPORTS ON THE INTERNET: Brings In Liquidator from Vantis -------------------------------------------------------- Nigel Hamilton-Smith of Vantis was appointed liquidator of Sports on the Internet Ltd. on Aug. 15 for the creditors' voluntary winding-up proceeding. The liquidator can be reached at: Vantis Torrington House 47 Holywell Hill St. Albans Hertfordshire AL1 1HD England W FISHER & SONS: Appoints Begbies Traynor as Administrators ----------------------------------------------------------- D.F. Wilson and J.N.R. Pitts of Begbies Traynor were appointed joint administrators of W.Fisher & Sons (Tilers) Ltd. (Company Number 00304738) on Aug. 15. Begbies Traynor -- http://www.begbies.com/-- assists companies, creditors, financial institutions and individuals on all aspects of financial restructuring and corporate recovery. Headquartered in Huddersfield, England, W.Fisher & Sons (Tilers) Ltd. -- http://www.fishertile.co.uk/-- supplies and installs ceramic wall and floor tiles. WORLDANSWER LTD: Taps Nigel Hamilton-Smith to Liquidate Assets -------------------------------------------------------------- Nigel Hamilton-Smith of Vantis was appointed liquidator of Worldanswer Ltd. on Aug. 15 for the creditors' voluntary winding-up proceeding. The liquidator can be reached at: Vantis Torrington House 47 Holywell Hill St. Albans Hertfordshire AL1 1HD England * BOND PRICING: For the Week Aug. 20 to Aug. 24, 2007 ----------------------------------------------------- Issuer Coupon Maturity Currency Price ------ ------ -------- -------- ----- AUSTRIA ------- Kommunal Kredit Austria AG 0.500 03/15/19 CDN 60.91 0.250 10/14/26 CDN 38.23 Republic of Austria 4.000 06/22/22 EUR 72.08 0.396 08/04/25 EUR 65.98 5.000 10/10/25 EUR 62.19 FINLAND ------- Muni Finance PLC 1.000 03/19/13 AUD 73.35 0.500 04/26/13 AUD 70.63 1.000 11/21/16 NZD 56.84 0.500 09/24/20 CDN 55.60 0.250 06/28/40 CDN 19.97 FRANCE ------ Accor S.A. 1.750 01/01/08 EUR 60.05 Alcatel S.A. 4.750 01/01/11 EUR 16.34 Altran Technologies S.A. 3.750 01/01/09 EUR 12.46 BNP Paribas 0.250 12/20/14 US$ 69.25 CAP Gemini S.A. 2.500 01/01/10 EUR 56.20 1.000 01/01/12 EUR 52.64 Club Mediterranee S.A. 3.000 11/01/08 EUR 67.02 4.375 11/01/10 EUR 55.29 FCC Rome Alliance Funding 2.256 01/08/21 EUR 73.26 Havas S.A. 4.000 01/01/09 EUR 10.80 Infogrames Entertainment S.A. 1.500 07/01/11 EUR 23.49 Ingenico 2.750 01/01/12 EUR 19.27 Maurel & Prom 3.500 01/01/10 EUR 21.59 Publicis Group 0.750 07/17/08 EUR 32.99 1.000 01/18/18 EUR 43.21 Rallye 3.750 01/01/08 EUR 50.29 Rhodia S.A. 0.500 01/01/14 EUR 45.13 Scor S.A. 4.125 01/01/10 EUR 2.22 Soc Air France 2.750 04/01/20 EUR 32.14 Soitec 4.625 12/20/09 EUR 13.71 Thomson (EX-TMM) 1.000 01/01/08 EUR 39.40 Valeo 2.375 01/01/11 EUR 48.02 Vivendi Universal S.A. 1.750 10/30/08 EUR 31.70 Wavecom S.A. 1.750 01/01/14 EUR 28.79 Wendel Invest S.A. 2.000 06/19/09 EUR 49.93 GERMANY ------- KfW Bankengruppe 0.500 10/30/13 AUD 67.97 0.500 12/19/17 EUR 66.57 5.000 05/23/20 EUR 74.58 1.250 07/07/20 EUR 72.00 1.250 07/29/20 EUR 72.31 6.000 07/21/25 EUR 68.09 8.000 08/10/30 EUR 65.23 Landeskreditbank Baden- Wuerttemberg Foerderbk 0.500 05/10/27 CDN 41.23 Landwirtschaftliche Rentenbank AG 1.000 03/29/17 NZD 55.93 GREECE ------ Hellenic Republic 0.628 07/13/20 EUR 68.00 Hellenic Republic 0.990 07/07/24 EUR 67.48 Hellenic Republic 6.000 07/06/24 EUR 71.94 ICELAND ------- Kaupthing Bank 6.500 02/03/45 EUR 68.94 IRELAND ------- Depfa ACS Bank 0.500 03/03/25 CDN 47.96 0.250 07/08/33 CDN 27.17 Irish Perm Plc 6.125 02/15/35 EUR 66.20 Magnolia Finance IV Plc 1.050 12/20/45 US$ 27.78 ITALY ----- Dexia Crediop S.p.A. 0.000 03/15/16 EUR 72.17 LUXEMBOURG ---------- Teksid Aluminum S.A. 12.375 07/15/11 EUR 42.38 NETHERLANDS ----------- ABN AMRO Bank N.V. 6.250 06/29/35 EUR 69.50 BK Ned Gemeenten 0.500 06/27/18 CDN 61.77 0.500 02/24/25 CDN 45.02 EM.TV Finance B.V. 5.250 05/08/13 EUR 5.82 Energy Group O/S 7.425 10/15/17 US$ 35.00 KBC Ifima B.V. 3.500 02/07/25 US$ 73.38 Lehman Bros TSY B.V. 2.000 02/16/15 EUR 78.03 1.000 06/06/17 EUR 74.28 6.000 02/15/35 EUR 70.83 6.000 02/16/35 EUR 78.03 8.250 03/16/35 EUR 61.17 7.000 05/17/35 EUR 64.19 7.250 10/05/35 EUR 59.08 6.000 11/02/35 EUR 62.33 Ned Waterschapbk 6.000 06/01/35 EUR 71.33 6.500 08/15/35 EUR 65.18 6.000 06/30/45 EUR 68.31 Rabobank Groep N.V. 6.000 04/08/20 EUR 72.15 3.100 11/15/24 US$ 73.85 6.000 02/22/35 EUR 70.12 2.000 02/23/35 EUR 62.65 7.000 02/28/35 EUR 69.88 7.000 03/23/35 EUR 65.77 6.000 05/09/35 EUR 72.62 NORWAY ------ Kommunalbanken A.S. 0.500 02/07/13 AUD 70.78 SWEDEN ------ AB Svensk Export 0.500 03/27/13 AUD 70.96 SWITZERLAND ----------- UBS AG 1.000 09/28/11 NZD 75.53 1.000 10/27/11 NZD 75.15 1.000 11/29/11 NZD 74.73 1.000 12/21/11 NZD 74.83 1.000 01/25/12 NZD 74.41 1.000 02/27/12 NZD 74.01 1.000 03/28/12 NZD 73.23 1.000 06/28/12 NZD 72.13 1.000 07/30/12 NZD 72.17 TURKEY ------ Republic of Turkey 14.000 01/19/11 TRY 90.64 UNITED KINGDOM -------------- Anglian Water Finance Plc 2.400 04/20/35 GBP 55.60 HBOS Treasury Services Plc 6.000 02/07/35 EUR 70.14 National Grid Gas Plc 1.754 10/17/36 GBP 46.03 1.771 03/30/37 GBP 46.97 Royal BK Scotland Plc 0.250 03/27/14 US$ 72.29 7.000 06/09/25 EUR 64.03 TXU Eastern Finance Plc 6.750 05/15/09 US$ 5.63 Wessex Water Finance Plc 1.369 07/31/57 GBP 30.61 ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers' public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than US$3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. A list of Meetings, Conferences and Seminars appears in each Thursday's edition of the TCR. Submissions about insolvency- related conferences are encouraged. Send announcements to conferences@bankrupt.com Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/booksto order any title today. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter -- Europe is a daily newsletter co- published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland USA. Jazel P. Laureno, Julybien Atadero, Carmel Zamesa Paderog, Joy Agravante, Zora Jayda Zerrudo Sala, Kristina A. Godinez, and Pius Xerxes Tovilla, Editors. Copyright 2007. All rights reserved. ISSN 1529-2754. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR Europe subscription rate is US$625 per half-year, delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are US$25 each. For subscription information, contact Christopher Beard at 240/629-3300. * * * End of Transmission * * *