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        T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

           Thursday, September 6, 2007, Vol. 8, No. 177

                            Headlines


A U S T R I A

ALMRAUSCH BETRIEB: Claims Registration Period Ends Sept. 17
GRADWOHL LLC: Claims Registration Period Ends Sept. 20
GRAFO LLC: Claims Registration Period Ends Sept. 18
HUMITSCH & STIPLOSCHEK: Claims Registration Period Ends Sept. 20
PREITE RAMONA: Claims Registration Period Ends Sept. 24

RISTORANTE PIZZERIA: Administrator Declares Insufficient Assets
TED TREND-EINRICHTUNGSDESIGN: Claims Registration Ends October 2
T.U.F.E.K LLC: Claims Registration Period Ends Sept. 21


B E L G I U M

ARVINMERITOR INC: Partners with Chery to Design Chassis Systems


F R A N C E

BOSTON SCIENTIFIC: Court OKs Johnson & Johnson's Breach Claim


G E R M A N Y

BENQ CORP: Completes Spin-Off Plan; Launches Branded Company
BENQ CORP: Targets NT$80 Bil. in Sales Next Year After Spin-Off
BIM LOGISTIK: Claims Registration Ends Sept. 25
CHC VERTRIEBS: Claims Registration Ends October 4
CHRYSLER LLC: U.S. Sales Dip 6% to 168,203 Units in August

CHRYSLER LLC: UAW Open to Health Care Trust Fund; Seeks Pact
COREALCREDIT BANK: S&P Affirms BB- Counterparty Credit Ratings
ERICHSEN-BAUPARTNER: Creditors Must File Claims by September 27
F.A.B.R.I.K.-FITNESS: Claims Registration Period Ends Oct. 5
GMT STEUERUNGSTECHNIK: Claims Registration Ends October 4

HTL BAU: Creditors Must File Claims by September 28
IBC INTERNATIONAL: Claims Registration Ends October 4
KICK-MOEBEL VERTRIEBS: Claims Registration Period Ends Oct. 4
KIDS-PLANET GMBH: Claims Registration Period Ends Oct. 4
KOHNEN GMBH: Claims Registration Period Ends Oct. 4

KRAMER BAU-GMBH: Claims Registration Ends Sept. 26
LANDROCK GMBH: Claims Registration Ends Sept. 20
LEHMBAUTEC GESELLSCHAFT: Creditors Must File Claims September 27
LOGO MOEBEL: Claims Registration Period Ends Oct. 4
MADACON GMBH: Claims Registration Ends Sept. 20
RECK KLINKERBAU: Claims Registration Period Ends Oct. 12

SERVICE GMBH: Claims Registration Period Ends Oct. 12
THESCH HOLZHANDLUNG: Claims Registration Period Ends Oct. 12
WALD CLUBREISEN: Creditors Must File Claims by September 26


H U N G A R Y

AES CORP: International Coalition Balk at Panama Dam Projects
FLEXTRONICS INT'L: Inks Acquisition Deal with Avail Medical


I R E L A N D

ADVANCED MEDICAL: Names R. DeRisio VP-Global Regulatory Affairs
ADVANCED MEDICAL: S&P Lowers Corporate Credit Rating to B+


I T A L Y

DANA CORP: Inks Settlement Agreement With Retiree Committee
DANA CORP: Wants Disclosure Statement Hearing Set for October 23
PARMALAT SPA: Hikes Paid Up Share Capital by EUR118,253


K A Z A K H S T A N

CENTRAL-KAZAKHSTAN UNIVERSITY: Claims Registration Ends Oct. 16
GALIYA LLP: Creditors Must File Claims Oct. 12
KAISAR FOOT: Claims Filing Period Ends Oct. 17
KARDE JSC: Creditors' Claims Due on Oct. 16
NAR TAUEKEL: Claims Registration Ends Oct. 17

NIKOLAS LLP: Creditors Must File Claims Oct. 12
PRIDE INT'L: Closes Sale of Drilling & Workover Rig Business
SEIMAR ALLIANCE: Moody's Assigns Ba3/Not-Prime Currency Ratings
SHUSKAYA REALBAZA: Claims Filing Period Ends Oct. 16
UJBAT LLP: Creditors' Claims Due on Oct. 16


K Y R G Y Z S T A N

AK-SUU ELECTRO: Proof of Claim Deadline Slated for October 17


P O L A N D

FEDERAL-MOGUL: Court Extends Lease Decision Deadline to Dec. 1


R U S S I A

A AND M PRODUCTION: Creditors Must File Claims by Sept. 11
BALT-RYB-MOR-PROM: Court Starts Bankruptcy Supervision Procedure
CONTEMPORARY BUILDING: Court Names V. Lasko to Manage Assets
GORNENSKOE CJSC: Creditors Must File Claims by Oct. 11
KHABAROV-FISH LLC: Creditors Must File Claims by Oct. 11

NOVOLIPETSK STEEL: Earns US$1.1 Billion in First Half 2007
ONEZHSKIY TRACTOR: Creditors Must File Claims by Oct. 11
PETROVSKOE OJSC: Court Names M. Kovaleva as Insolvency Manager
ROS-TEKH-NERUD: Creditors Must File Claims by Sept. 11
SABLE LLC: Creditors Must File Claims by Sept. 11

SERPUKHOVSKIY DIARY: Creditors Must File Claims by Sept. 11
SIBIRSKO-URALSKIY: Creditors Must File Claims by Oct. 11
SLAVYANKA LLC: Primorye Bankruptcy Hearing Slated for Nov. 1
TERMINAL CJSC: Creditors Must File Claims by Sept. 11
TITAN PETROCHEM: To Buy Quanzho Shipyard for US$170 Million

ZOLOTAYA SUTARA: Creditors Must File Claims by Sept. 11


S P A I N

SANYO ELECTRIC: Is Accepting Bid Offers for Semiconductor Unit


S W E D E N

SAS AB: S&P Holds BB Ratings on Midsize Route Network


S W I T Z E R L A N D

DVD CORNER: Creditors' Liquidation Claims Due September 12
GCI MANAGEMENT: Zug Court Closes Bankruptcy Proceedings
GLOBAL HOUSE: Creditors' Liquidation Claims Due September 12
IGM INTERNATIONAL: Creditors' Liquidation Claims Due Sept. 12
IMBA-TEXTIL JSC: Creditors' Liquidation Claims Due September 12

MAKIS NATURSTEINE: Creditors' Liquidation Claims Due Sept. 10
MATTIG-PLAN LLC: Creditors' Liquidation Claims Due September 10
TAKOTEX JSC: St. Gallen Court Closes Bankruptcy Proceedings
XT XENA: Claims Registration Period Ends September 10
ZELLER WIL: Claims Registration Period Ends September 10


U K R A I N E

ANASTACY-COMPANY LLC: Creditors Must File Claims by September 7
GALOL-SM OJSC: Creditors Must File Claims by September 7
KOLOS LLC: Proofs of Claim Deadline by September 7
KUYBYSHEV JOINT: Creditors Must File Claims by September 7
OLIMP LLC: Proofs of Claim Deadline by September 7

PRAVEX BANK: Fitch Rates IDR at B- on Weak Capitalization
PROGRESS LLC: Proofs of Claim Deadline by September 7
SHEVCHENKO LLC: Proofs of Claim Deadline by September 7
UKRAINIAN ENERGY: Creditors Must File Claims by September 7

VODIANO LLC: Proofs of Claim Deadline by September 7


U N I T E D   K I N G D O M

CORNERSTONE TITAN 2005-2: S&P Rates Class G Notes at BB
DURA AUTOMOTIVE: Noteholders Appeal Pacificor Backstop Accord
DURA AUTOMOTIVE: Names Tim Trenary Chief Financial Officer
DURA AUTOMOTIVE: Closes US$160.2 Mln Sale of Atwood Mobile Unit
EMI GROUP: Prices EUR425 Million Cash Tender Offer

FORD MOTOR: Reports 14% Decline in Overall U.S. Sales for August
FORD MOTOR: Ford Canada Reports 8.7% Sales Increase in August
FORD MOTOR: Names 15 New Aligned Business Framework Suppliers
FORD MOTOR: UAW Open to Health Care Trust Fund; Seeks Pact
GENERAL MOTORS: Says U.S. Sales for August Up By More Than 5%

GENERAL MOTORS: GM Canada Sales Increased 3.2% in August
GENERAL MOTORS: Inks MOU with Isuzu for Commercial Vehicles Deal
GENERAL MOTORS: UAW Open to Health Care Trust Fund; Seeks Pact
GENERAL MOTORS: Crossover Units Lure Drivers From Asian Vehicles
GEORGICA PLC: S&P Withdraws Junk Ratings at Company's Request

MAZDA MOTORS: Recalls 280,000 Demios and Verisas in Japan
RANK GROUP: Mulls Sale of GBP700 Mln Pension Fund, Report Says
SEA CONTAINERS: Completes US$170 Mln Wells Fargo DIP Financing
SEA CONTAINERS: Wants Court Nod on 333 Capital as Advisors
US ENERGY: Provides Update on Liquidity; Issues Bankruptcy Call

VERIFONE HOLDINGS: Promotes William Nichols as VP-Asia Pacific
WHITESTONE MANAGEMENT: Insolvency Investigation Cues Shutdown
WHOLE FOODS: S&P Lowers Corp. Credit Rating to BB+ from BBB-

* Euler Hermes Taps Richard Barnett as Legal & Secretariat Head

* Upcoming Meetings, Conferences and Seminars


                            *********


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A U S T R I A
=============


ALMRAUSCH BETRIEB: Claims Registration Period Ends Sept. 17
-----------------------------------------------------------
Creditors owed money by LLC Almrausch Betrieb (FN 209032a) have
until Sept. 17 to file written proofs of claim to court-
appointed estate administrator Alexander Riel at:

         Dr. Alexander Riel
         c/o Dr. Christoph Brenner
         Utzstrasse 7
         3500 Krems
         Austria
         Tel: 02732/79520
         Fax: 02732/79520-11
         E-mail: brenner-riel@ktv-krems.at    

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:00 a.m. on Oct. 3 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Krems an der Donau
         Hall A
         Second Floor
         Krems an der Donau
         Austria

Headquartered in Hadersdorf am Kamp, Austria, the Debtor
declared bankruptcy on Aug. 7 (Bankr. Case No. 9 S 47/07w).  
Christoph Brenner represents Dr. Riel in the bankruptcy
proceedings.


GRADWOHL LLC: Claims Registration Period Ends Sept. 20
------------------------------------------------------
Creditors owed money by LLC Gradwohl (FN 256226d) have until
Sept. 20 to file written proofs of claim to court-appointed
estate administrator Georg Dieter at:

         Mag. Georg Dieter
         Kaiserfeldgasse 15
         8010 Graz
         Austria
         Tel: 0316/7085
         Fax: 0316/7085-25  

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

The meeting of creditors will be held at:

         The Land Court of Graz
         Room 222
         Second Floor
         Graz
         Austria

Headquartered in Graz, Austria, the Debtor declared bankruptcy
on Aug. 7 (Bankr. Case No. 26 S 58/07k).  


GRAFO LLC: Claims Registration Period Ends Sept. 18
---------------------------------------------------
Creditors owed money by LLC Grafo (FN 111955s) have until
Sept. 18 to file written proofs of claim to court-appointed
estate administrator Hans Rant at:

         Dr. Hans Rant
         c/o Dr. Kurt Freyler
         Seilerstatte 5
         1010 Vienna
         Austria
         Tel: 513 31 65
         Fax: 512 20 01
         E-mail: ra-kanzlei@rant-freyler.at   

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on Oct. 2 for the
examination of claims.

The meeting of creditors will be held at:

         The Trade Court of Vienna
         Room 1606
         Vienna
         Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Aug. 6 (Bankr. Case No. 4 S 88/07d).  Kurt Freyler represents
Dr. Rant in the bankruptcy proceedings.


HUMITSCH & STIPLOSCHEK: Claims Registration Period Ends Sept. 20
----------------------------------------------------------------
Creditors owed money by KG Humitsch & Stiploschek (FN 11915y)
have until Sept. 20 to file written proofs of claim to court-
appointed estate administrator Georg Dieter at:

         Mag. Georg Dieter
         Friedhofgasse 20
         8020 Graz
         Austria
         Tel: 0316/7085
         Fax: 0316/7085-25
         E-mail: law-office@rath-partner.at  

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

The meeting of creditors will be held at:

         The Land Court of Graz
         Room 222
         Second Floor
         Graz
         Austria

Headquartered in Graz, Austria, the Debtor declared bankruptcy
on Aug. 6 (Bankr. Case No. 26 S 57/07p).  


PREITE RAMONA: Claims Registration Period Ends Sept. 24
-------------------------------------------------------
Creditors owed money by KEG Preite Ramona (FN 265463m) have
until Sept. 24 to file written proofs of claim to court-
appointed estate administrator Lukas Pfefferkorn at:

         Mag. Lukas Pfefferkorn
         c/o Dr. Michael Kaufmann
         Schulgasse 7
         6850 Dornbirn
         Austria
         Tel: 05572/20210
         Fax: 05572/34414
         E-mail: office@ktg.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on Oct. 4 for the
examination of claims.

The meeting of creditors will be held at:

         The Land Court of Feldkirch
         Conference Hall 45
         First Floor
         Feldkirch
         Austria

Headquartered in Feldkirch, Austria, the Debtor declared
bankruptcy on Aug. 8 (Bankr. Case No. 13 S 41/07w).  Michael
Kaufmann represents Mag. Pfefferkorn in the bankruptcy
proceedings.


RISTORANTE PIZZERIA: Administrator Declares Insufficient Assets
---------------------------------------------------------------
Dr. Eva Mueller, the court-appointed estate administrator for
LLC Ristorante Pizzeria La Cascata (FN 187149w), declared Aug. 7
that the Debtor's property is insufficient to cover creditors'
claim.

The Land Court of Feldkirch ordered the closure of the Debtor's
business on the same day.

Headquartered in Feldkirch, Austria, the Debtor declared
bankruptcy on Aug. 1 (Bankr. Case No. 13 S 39/07a).  Surena
Ettefagh represents Dr. Mueller in the bankruptcy proceedings.

The estate administrator can be reached at:

         Dr. Eva Mueller
         c/o Dr. Surena Ettefagh
         Johannitergasse 6
         6800 Feldkirch
         Austria
         Tel: 05522/84990
         Fax: 05522/84990-9
         E-mail: office@ra-ettefagh.at


TED TREND-EINRICHTUNGSDESIGN: Claims Registration Ends October 2
----------------------------------------------------------------
Creditors of TED Trend-Einrichtungsdesign GmbH have until Oct. 2
to register their claims with court-appointed insolvency manager
Dr. Biner Bahr.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.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 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. Biner Bahr
         Graf-Adolf-Platz 15
         40213 Duesseldorf
         Germany

The District Court of Duesseldorf opened bankruptcy proceedings
against TED Trend-Einrichtungsdesign GmbH on Aug. 28.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         TED Trend-Einrichtungsdesign GmbH
         Haifastrasse 24
         40227 Duesseldorf
         Germany

         Attn: Birgit Fimpler, Manager
         Helene-Weber-Weg 13
         50354 Huerth
         Germany


T.U.F.E.K LLC: Claims Registration Period Ends Sept. 21
-------------------------------------------------------
Creditors owed money by LLC T.U.F.E.K (FN 246240v) have until
Sept. 21 to file written proofs of claim to court-appointed
estate administrator Franz Stefan Pechmann at:

         Dr. Franz Stefan Pechmann
         Gusshausstrasse 6
         1040 Vienna
         Austria
         Tel: 503 19 95
         Fax: 503 19 95 12
         E-mail: office@pechmann.cc   

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:45 a.m. on Oct. 5 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 Aug. 7 (Bankr. Case No. 28 S 90/07z).  


=============
B E L G I U M
=============


ARVINMERITOR INC: Partners with Chery to Design Chassis Systems
---------------------------------------------------------------
ArvinMeritor Inc. and Chery Form Chassis Systems have entered
into a joint venture partnership to design and manufacture
chassis systems and components.  

The new joint venture, ArvinMeritor Chassis Systems Wuhu Co.,
will evolve to a US$150-million full-systems chassis supplier by
2010.  Production of shocks and struts will begin as early as
2008.

"ArvinMeritor's alliance with Chery is a great example of the
company attaining strategic growth from three key focus areas;
increasing business with Asian customers, expanding in emerging
markets, and growing our light vehicle chassis business," said
Phil Martens, president of ArvinMeritor's Light Vehicle Systems
business group.  "This new business, which is quickly ramping
up, comes on the heels of several other new Chery contracts with
ArvinMeritor for its door systems technologies.  We're honored
that Chery continues to choose us as its technology partner,"
continued Mr. Martens.  "We see these contracts as the first
steps of many long-term opportunities for both companies."

"As the automotive footprint continues to evolve, ArvinMeritor
is well positioned to participate in Asia's explosive growth
through its global partnerships and manufacturing network,
including today's announcement with Chery," said Rakesh Sachdev,
president of ArvinMeritor's Asia Pacific operation.  "The new
chassis systems joint venture plant in Wuhu will be one of
several China-based facilities ArvinMeritor is adding to its
network over the next 18 months in support of new business with
customers in the region."

Headquartered in Troy, Michigan, ArvinMeritor, Inc. (NYSE: ARM)
-- http://www.arvinmeritor.com/-- is a premier USUS$8.8
billion global supplier of a broad range of integrated systems,
modules and components to the motor vehicle industry.  The
company serves light vehicle, commercial truck, trailer and
specialty original equipment manufacturers and certain
aftermarkets.  ArvinMeritor employs approximately 29,000 people
at more than 120 manufacturing facilities in 25 countries.
These countries are: China, India, Japan, Singapore, Thailand,
Australia, Venezuela, Brazil, Argentina, Belgium, Czech
Republic, France, Germany, Hungary, Italy, Netherlands, Spain,
Sweden, Switzerland, United Kingdom, among others.  ArvinMeritor
common stock is traded on the New York Stock Exchange under the
ticker symbol ARM.

                          *     *     *

As reported in the Troubled Company Reporter on Feb. 12, 2007
Dominion Bond Rating Service assigned a rating of BB (low) to
the USUS$175 million Convertible Senior Unsecured Notes of
ArvinMeritor Inc.  DBRS says the trend is stable.

As reported on on Feb. 6, 2007, Moody's Investors Service has
downgraded ArvinMeritor's Corporate Family Rating to Ba3 from
Ba2.  Ratings on the company's secured bank obligations and
unsecured notes were lowered one notch as a result.

Ratings lowered:

ArvinMeritor Inc.

   -- Corporate Family Rating to Ba3 from Ba2

   -- Senior Secured bank debt to Ba1, LGD-2, 20% from Baa3,
      LGD-2, 18%

   -- Senior Unsecured notes to B1, LGD-4, 65% from Ba3,
      LGD-4, 64%

   -- Probability of Default to Ba3 from Ba2

   -- Shelf unsecured notes to (P)B1, LGD-4, 65% from (P)Ba3,
      LGD-4, 64%

Arvin Capital I

   -- Trust Preferred to B2, LGD-6, 96% from B1, LGD-6, 96%

Arvin International PLC

   -- Unsecured notes guaranteed by ArvinMeritor Inc. to B1,
      LGD-4, 65% from Ba3, LGD-4, 64%

Ratings affirmed:

ArvinMeritor Inc.

   -- Speculative Grade Liquidity rating, SGL-2


===========
F R A N C E
===========


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

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

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

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

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

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

                          *     *     *

As reported in the Troubled Company Reporter on Aug. 28, 2007,
Standard & Poor's Ratings Services said that its ratings on
Boston Scientific Corp., including the 'BB+' corporate credit
rating, remain on CreditWatch with negative implications, where
they were placed Aug. 3, 2007.  

Earlier, Fitch Ratings downgraded the rating on the company's
'BBB-' Senior Unsecured Notes to 'BB+'.  The Outlook is
Negative.


=============
G E R M A N Y
=============


BENQ CORP: Completes Spin-Off Plan; Launches Branded Company
------------------------------------------------------------
BenQ Corporation commenced its new operation on Sept. 3, 2007,
following successful completion of the spin-off plan to separate
its branded and manufacturing business.  BenQ, a branded company
after the separation, will continue to sell and market products
under the BenQ brand name.

BenQ will remain headquartered in Taipei, Taiwan.  The company
has a paid-in capital of NT$3.62 billion with revenue expected
to exceed NT$100 billion in 2009.  At the initial stage, BenQ
will be 100% owned by Qisda Corporation.  Qisda will gradually
reduce its shareholdings in BenQ while BenQ explores options for
strategic partners and investors.

The newly spun-off BenQ will have an independent Board of
Directors and leadership team, including Mr. K.Y. Lee as
Chairman, Mr. Jerry Wang as Vice Chairman, and Mr. Conway Lee as
President and CEO.  Other members of the leadership include:

   -- Peter Chen, General Manager of Technology Product Center;
   -- Adrian Chang, President of BenQ Asia Pacific;
   -- Michael Tseng, President of BenQ China; and
   -- Hank Horng, Managing Director of BenQ Taiwan.

“Since the inception of BenQ more than 5 years ago, we have
established the brand as a cheerful and trendy hi-tech
electronics brand among all consumers.” said K.Y. Lee, Chairman
of BenQ Corporation. “Going forward, we expect to see faster and
stronger growth in our brand through this new focused structure.
I strongly believe that our leadership of choice will bring us
to new heights.”

“The new BenQ is flexible in structure, swift in action and
highly customer- and market-driven,” said Conway Lee, President
and CEO of BenQ Corporation. “We will focus on developing
advanced technologies that will shape the next generation of
products while fully leveraging external resources to create
better lifestyle products for our consumers.”

With a total of more than 2,000 talents from over 40
nationalities, and branch offices in 28 countries worldwide,
BenQ will continue to market products that contribute to the
company’s mission of Bringing Enjoyment and Quality to Life.
BenQ products are available in 100 countries; its product
portfolio includes digital projector, LCD monitors, LCD TVs,
digital cameras, mobile phones, laptop PCs, storage devices,
media and human interface devices such as mice and keyboards.

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

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

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

                          *     *     *

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

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

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


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

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

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

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

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

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

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

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

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

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

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

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

                          *     *     *

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

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

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


BIM LOGISTIK: Claims Registration Ends Sept. 25
-----------------------------------------------
Creditors of BIM Logistik und Marketing GmbH have until Sept. 25
to register their claims with court-appointed insolvency manager
Juergen Stopka.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on Nov. 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 Ludwigshafen am Rhein
         Meeting Hall 13
         Wittelsbachstr. 10
         67061 Ludwigshafen 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:

         Juergen Stopka
         Ludwigstrasse 45
         D 67346 Speyer
         Germany

The District Court of Ludwigshafen am Rhein opened bankruptcy
proceedings against BIM Logistik und Marketing GmbH on Aug. 22.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         BIM Logistik und Marketing GmbH
         Backergasse 5
         67105 Schifferstadt
         Germany


CHC VERTRIEBS: Claims Registration Ends October 4
-------------------------------------------------
Creditors of CHC Vertriebs GmbH & Co. KG have until Oct. 4 to
register their claims with court-appointed insolvency manager
Sylvia Fiebig.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 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 Detmold
         Meeting Hall 104
         First Floor
         Heinrich-Drake-Str. 3
         32756 Detmold
         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:

         Sylvia Fiebig
         Jungfernstieg 51
         20354 Hamburg
         Germany

The District Court of Detmold opened bankruptcy proceedings
against CHC Vertriebs GmbH & Co. KG on Aug. 28.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         CHC Vertriebs GmbH & Co. KG
         Bahnhofstr. 8
         32816 Schieder-Schwalenberg
         Germany

         Attn: Frank Rassloff, Manager
         Moltkestr. 22
         32756 Detmold
         Germany


CHRYSLER LLC: U.S. Sales Dip 6% to 168,203 Units in August
----------------------------------------------------------
Chrysler LLC reported U.S. sales for August 2007 of 168,203
units; down 6 percent compared to August 2006 with 179,165 units
sold.  All sales figures are reported as unadjusted.

"Overall, the industry experienced softer sales in August than a
year ago," said Darryl Jackson, vice president of U.S. Sales.  
"Our fleet sales are down more than 20 percent versus August
2006.  While this has driven the overall sales decrease for the
month, it is directly in line with the company's Recovery and
Transformation Plan to reduce sales of our daily rental fleet
during the second half of the year."

Chrysler brand car sales were led by Sebring Sedan which posted
sales of 4,929 for August, up 66 percent over the prior month.  
Chrysler Sebring Convertible finished the month with sales of
2,730 units improving 8 percent over July.  Chrysler Aspen sales
also rose 62 percent versus July with 3,599 units, posting its
best month ever.

The Jeep brand was down 1 percent versus last year while
Wrangler and Compass posted gains over August 2006.  Jeep
Wrangler and Wrangler Unlimited posted sales of 9,464 units,
up 58 percent compared to August 2006 with 6,002 units sold.  
The Jeep Compass finished the month with sales of 3,625 units,
up 76 percent from last year.

Dodge brand car sales increased 13 percent over last year led by
Dodge Caliber which posted a gain of 5 percent.  Dodge truck
sales were down 14 percent over August 2006.  The all-new Dodge
Nitro was up 51 percent over July 2007.

"Our exciting new 2008 models combined with the new Chrysler
Lifetime Powertrain Warranty continues to drive showroom traffic
and contributed to stronger closing rates in August," said
Michael Keegan, vice president for Volume Planning and Sales
Operations.  "Chrysler will continue to support 2007 model year
close-out with a highly competitive 0% APR into September."

Chrysler finished the month with 446,249 units of inventory, or
a 72-day supply.  Inventory is down by 11 percent compared to
August 2006 when it was at 502,946 units.

                       About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- offers cars and minivans, pick-up
trucks, sport utility vehicles, and vans under the Chrysler,
Jeep, and Dodge brand names.  It also sells parts and
accessories under the MOPAR brand.

The company has dealers worldwide, including Canada, Mexico,
U.S., Germany, France, U.K., Argentina, Brazil, Venezuela,
China, Japan and Australia.

Chrysler LLC is facing a difficult market environment in the
United States with excess inventory, non-competitive legacy
costs for employees and retirees, continuing high fuel prices
and a stronger shift in demand toward smaller vehicles.  At the
same time, key competitors have further increased margin and
volume pressures -- particularly on light trucks -- by making
significant price concessions.  In addition, increased interest
rates caused higher sales & marketing expenses.

                          *    *    *

The TCR-Europe reported on Aug. 8, 2007, that Moody's Investors
Service has affirmed Chrysler Automotive LLC's B3 Corporate
Family Rating, and the Caa1 (LGD4, 66) rating of the company's
US$2 billion senior secured, second lien term loan in connection
with Monday's closing of Daimler Chrysler AG's sale of a
majority interest of Chrysler Group to Cerberus Capital
Management LLC.


CHRYSLER LLC: UAW Open to Health Care Trust Fund; Seeks Pact
------------------------------------------------------------
The United Auto Workers union is amenable to creating a trust
fund for retiree health-care benefits as long as all of the
parties involved can reach an agreement on funding terms, The
Detroit News relates.

UAW leaders understand that transferring tens of billions of
dollars in liability from the books of Detroit's “Big Three”
automakers -- General Motors Corp., Ford Motor Co., and Chrysler
LLC -- to trust funds controlled by them could work, Bryce G.
Hoffman writes for The Detroit News, quoting sources close to
the contract negotiations.

According to the report, executives of the three companies
believe that paying the United Auto Workers to assume
responsibility for retiree health benefits is the best way to
make their companies cost-competitive again.  However, the
automakers' plan to fund part of their workers' benefits with
company stock could make it quite difficult for union members to
accept the offer.

Patterned after similar deals at Goodyear Tire & Rubber Co. and
Dana Corp., the three car makers want to pay the union to
establish what are called voluntary employee beneficiary
associations, or VEBAs, that would assume responsibility for
hourly retiree health benefits.  They had proposed VEBAs in
their initial economic offers to the UAW, Mr. Hoffman of The
Detroit News states.

A VEBA would cost each automaker billions -- as much as US$35
billion in GM's case -- but it would permanently remove billions
more in liabilities from their balance sheets.  It also
guarantees the union's right to protect those benefits should
any of the automakers file for bankruptcy, The Detroit News
reveals.

Meanwhile, the UAW's top negotiator on its General Motors Corp.
bargaining team vowed that retirees won't have to pay more for
their health care in the next national contract, Louis Aguilar
writes for The Detroit News.

"I can tell you one thing, we are determined not to put any more
costs on retirees for their health care," said UAW Vice
President Cal Rapson.

The TCR-Europe reported on June 14, 2007, that the car companies
are trying to deal with health care costs that GM CEO Rick
Wagoner says cost them a combined US$12 billion in 2006.
Providing health care to 2 million employees, retirees and
dependents contributed to losses at each of the U.S. automakers
last year, while Japanese rivals posted record profits.  The
difference is made even more significant by higher pensions and
retiree health care costs.

GM and Ford hourly labor costs -- US$73.26 and US$70.51,
respectively -- are about US$30 an hour higher than those paid
by Japanese competitors operating U.S. plants.  The UAW's
current four-year contract with the "Big Three" automakers
expires September 14, 2007.

                       About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- offers cars and minivans, pick-up
trucks, sport utility vehicles, and vans under the Chrysler,
Jeep, and Dodge brand names.  It also sells parts and
accessories under the MOPAR brand.

The company has dealers worldwide, including Canada, Mexico,
U.S., Germany, France, U.K., Argentina, Brazil, Venezuela,
China, Japan and Australia.

Chrysler LLC is facing a difficult market environment in the
United States with excess inventory, non-competitive legacy
costs for employees and retirees, continuing high fuel prices
and a stronger shift in demand toward smaller vehicles.  At the
same time, key competitors have further increased margin and
volume pressures -- particularly on light trucks -- by making
significant price concessions.  In addition, increased interest
rates caused higher sales & marketing expenses.

                          *    *    *

The TCR-Europe reported on Aug. 8, 2007, that Moody's Investors
Service has affirmed Chrysler Automotive LLC's B3 Corporate
Family Rating, and the Caa1 (LGD4, 66) rating of the company's
US$2 billion senior secured, second lien term loan in connection
with Monday's closing of Daimler Chrysler AG's sale of a
majority interest of Chrysler Group to Cerberus Capital
Management LLC.


COREALCREDIT BANK: S&P Affirms BB- Counterparty Credit Ratings
--------------------------------------------------------------
Standard & Poor's Ratings Services revised to stable from
negative the outlook on Germany-based Corealcredit bank AG
(previously known as Allgemeine HypothekenBank Rheinboden AG),
following the release of its half-year results.  At the same
time, the 'BB-/B' counterparty credit ratings were affirmed.

"The rating action reflects the expectation of reduced downside
risks in the execution of Corealcredit's far-reaching reshaping
process and increasing confidence that the bank can achieve its
major targets in 2007," said Standard & Poor's credit analyst
Volker von Kruechten.  "The ratings continue to reflect,
however, the bank's weak business and earnings diversification
and Corealcredit's dim medium-term performance prospects, which
significantly depend on its ability to reduce its sizable stock
of NPLs and to release risk provisions."

Furthermore, Corealcredit will be challenged to attain a
profitable niche position in the structurally weaker German
commercial real estate market.  Being narrowly focused on
commercial real estate lending in Germany, Corealcredit's
modified business model relies to a considerable degree on the
continued recovery in property markets.  S&P expects
Corealcredit to break-even in 2007 and to offset an operating
loss only with the help of nonrecurring profits.  Asset quality
continues to be weak, owing to a very high proportion of NPLs
and disproportionately high exposures, particularly to weaker
segments such as eastern Germany.

"Slowly recovering new business volumes, further increased NPL
reserve coverage, and the ability to issue less rating-sensitive
Hypothekenpfandbriefe underline Corealcredit's strengthened
ability to cope with a potential deterioration of the operating
environment," said Mr. von Kruechten.  Provided that the bank
can scale down a major part of its nonstrategic loan portfolios
by year-end, capital ratios should improve significantly, but
only to moderate levels, given the bank's comparatively
unfavorable risk profile.  Credit-risk costs are expected to
decline substantially from previously elevated levels, based on
enhanced risk-management capabilities and the expertise in the
workout of distressed assets of Hudson Advisors Germany GmbH, an
affiliated company of its 88% owner, Lone Star Funds.

The ratings do not reflect implicit ownership support from Lone
Star, because we do not consider the U.S.-based opportunity fund
to be a long-term strategic majority shareholder. The ratings
also do not factor in any external systemic support.

The outlook reflects our expectation that Corealcredit will be
able to meet its 2007 targets of selling the remaining retail
mortgage portfolio and significantly scaling down public finance
exposures without additional value-adjustments; significantly
cutting credit-loss provisions and lowering NPL volumes; and
achieving a new business target of EUR750 million.  The progress
in its restructuring process is not regarded as tangible enough,
however, to eliminate remaining uncertainties, as to whether
Corealcredit can restore its weakened capital market reputation,
strengthen its poor market position, and establish a viable
business model given strong competition and the challenging
domestic property market environment.

Standard & Poor's would lower the ratings if Corealcredit failed
to make progress in successfully establishing its business model
in line with these targets.  Moreover, if Lone Star tried to
benefit from Corealcredit's strengthening capitalization by
withdrawing part of the equity, implications would also be
negative.  Conversely, further progress in the restructuring of
the bank by overachieving on these measures would be viewed
positively.


ERICHSEN-BAUPARTNER: Creditors Must File Claims by September 27
---------------------------------------------------------------
Creditors of Erichsen-Baupartner GmbH have until Sept. 27 to
register their claims with court-appointed insolvency manager
Ygglev Stintzing.

Creditors and other interested parties are encouraged to attend
the meeting at 11:20 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 Flensburg
         Hall A 220
         Flensburg
         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:

         Ygglev Stintzing
         Rathausstrasse 1
         24937 Flensburg
         Germany

The District Court of Flensburg opened bankruptcy proceedings
against Erichsen-Baupartner GmbH on Aug. 27.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Erichsen-Baupartner GmbH
         Am Teich 3
         24980 Hoerup
         Germany


F.A.B.R.I.K.-FITNESS: Claims Registration Period Ends Oct. 5
------------------------------------------------------------
Creditors of F.A.B.R.I.K.-Fitness GmbH have until Oct. 5 to
register their claims with court-appointed insolvency manager
Michael George.

Creditors and other interested parties are encouraged to attend
the meeting at 8:40 a.m. on Nov. 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 Wolfratshausen
         Meeting Halll 3/I         
         Bahnhofstrasse 18
         Wolfratshausen
         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: 08171/38730-100
         Fax: 08171/38730-222

The District Court of Wolfratshausen opened bankruptcy
proceedings against F.A.B.R.I.K.-Fitness GmbH on Aug. 27.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         F.A.B.R.I.K.-Fitness GmbH
         Hochfeldstr. 35
         83684 Tegernsee
         Germany


GMT STEUERUNGSTECHNIK: Claims Registration Ends October 4
---------------------------------------------------------
Creditors of GMT Steuerungstechnik GmbH have until Oct. 4 to
register their claims with court-appointed insolvency manager
Knut Thomas Hofheinz.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Oct. 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 Hameln
         Hall 106
         Zehnthof 1
         31785 Hameln
         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:

         Knut Thomas Hofheinz
         Markte 13
         30159 Hannover
         Germany
         Tel: 0511-357721-0
         Fax: 0511-357721-40
         E-mail: hannover@hofheinz-mittendorff.de
         Web site: http://www.hofheinz-mittendorf.de/  

The District Court of Hameln opened bankruptcy proceedings
against GMT Steuerungstechnik GmbH on Aug. 28.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         GMT Steuerungstechnik GmbH
         Attn: Holger Groene, Manager
         Hagenstrasse 13 F
         30890 Barsinghausen
         Germany


HTL BAU: Creditors Must File Claims by September 28
---------------------------------------------------
Creditors of HTL Bau Plan GmbH have until Sept. 28 to register
their claims with court-appointed insolvency manager Robert
Fliegner.

Creditors and other interested parties are encouraged to attend
the meeting at 9:10 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 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

The District Court of Wuppertal opened bankruptcy proceedings
against HTL Bau Plan GmbH on Aug. 29.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         HTL Bau Plan GmbH
         Ketzbergerstrasse 21
         42653 Solingen
         Germany


IBC INTERNATIONAL: Claims Registration Ends October 4
-----------------------------------------------------
Creditors of IBC International Brands Collection GmbH & Co. KG
have until Oct. 4 to register their claims with court-appointed
insolvency manager Sylvia Fiebig.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Oct. 24, at which time the
insolvency manager will present her first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Detmold
         Meeting Hall 104
         First Floor
         Heinrich-Drake-Str. 3
         32756 Detmold
         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:

         Sylvia Fiebig
         Jungfernstieg 51
         20354 Hamburg
         Germany

The District Court of Detmold opened bankruptcy proceedings
against IBC International Brands Collection GmbH & Co. KG on
Aug. 28.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         IBC International Brands Collection GmbH & Co. KG
         Weddigenufer 2
         32052 Herford
         Germany

         Attn: Frank Goerlich, Manager
         Krochmannstr. 20
         49076 Osnabrueck
         Germany


KICK-MOEBEL VERTRIEBS: Claims Registration Period Ends Oct. 4
-------------------------------------------------------------
Creditors of Kick-Moebel Vertriebs-GmbH have until Oct. 4 to
register their claims with court-appointed insolvency manager
Sylvia Fiebig.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on Oct. 24, at which time the
insolvency manager will present her first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Detmold
         Meeting Hall 104
         Heinrich-Drake-Str. 3
         32756 Detmold
         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:

         Sylvia Fiebig
         Jungfernstieg 51
         20354 Hamburg
         Germany

The District Court of Detmold opened bankruptcy proceedings
against Kick-Moebel Vertriebs-GmbH on Aug. 28.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Kick-Moebel Vertriebs-GmbH
         Hainbergstr. 2
         32816 Schieder-Schwalenberg
         Germany
         
         Attn: Kai Schaefer, Manager
         Treptower Str. 8
         32825 Blomberg
         Germany


KIDS-PLANET GMBH: Claims Registration Period Ends Oct. 4
--------------------------------------------------------
Creditors of Kids-Planet GmbH have until Oct. 4 to register
their claims with court-appointed insolvency manager Dr. Juergen
M. Thiel.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 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 Bielefeld
         Hall 4065
         Gerichtstrasse 66
         33602 Bielefeld
         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 M. Thiel
         Markt 8
         32423 Minden
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against Kids-Planet GmbH on Aug. 22.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Kids-Planet GmbH
         Attn: Uwe Kopp, Manager
         Gesellenweg 13
         32427 Minden
         Germany


KOHNEN GMBH: Claims Registration Period Ends Oct. 4
---------------------------------------------------
Creditors of Kohnen GmbH & Co. KG have until Oct. 4 to register
their claims with court-appointed insolvency manager Michael
Bremen.

Creditors and other interested parties are encouraged to attend
the meeting at 8:40 a.m. on Oct. 17, 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 Moenchengladbach
         Meeting Room A 14
         Ground Floor
         Hohenzollernstr. 157
         41061 Moenchengladbach
         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 Bremen
         Sternstrasse 58
         40479 Duesseldorf
         Germany
         Tel: 0211/491440
         Fax: +492114914461

The District Court of Moenchengladbach opened bankruptcy
proceedings against Kohnen GmbH & Co. KG on Aug. 22.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Kohnen GmbH & Co. KG
         Eupener Strasse 139
         41066 Moenchengladbach
         Germany


KRAMER BAU-GMBH: Claims Registration Ends Sept. 26
--------------------------------------------------
Creditors of Kramer Bau-GmbH have until Sept. 26 to register
their claims with court-appointed insolvency manager Axel
Gerbers.

Creditors and other interested parties are encouraged to attend
the meeting at 11:15 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 Vechta
         Hall 129
         Main Building
         Kapitelplatz 8
         49377 Vechta
         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:

         Axel Gerbers
         Soegestrasse 70
         28195 Bremen
         Germany
         Tel: 0421/178998-0
         Fax: 0421/178998-11
         E-Mail: bremen@jnp.de
         Web: http://www.jnp.de/

The District Court of Vechta opened bankruptcy proceedings
against Kramer Bau-GmbH on Aug. 23.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Kramer Bau-GmbH
         Eschweg 29
         49413 Dinklage
         Germany


LANDROCK GMBH: Claims Registration Ends Sept. 20
------------------------------------------------
Creditors of Landrock GmbH have until Sept. 20 to register their
claims with court-appointed insolvency manager Dr. Peter Roth.

Creditors and other interested parties are encouraged to attend
the meeting at 9:40 a.m. on Oct. 11, 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 Nuremberg
         Meeting Hall 152/I
         Flaschenhofstr. 35
         Nuremberg
         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. Peter Roth
         Saarstr. 35
         91207 Lauf
         Germany
         Tel: 09123/99959-0
         Fax: 09123/99959-99

The District Court of Nuremberg opened bankruptcy proceedings
against Landrock GmbH on Aug. 28.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Landrock GmbH
         GF Martin Albert Landrock
         Grenzweg 3
         91233 Neunkirchen
         Germany


LEHMBAUTEC GESELLSCHAFT: Creditors Must File Claims September 27
----------------------------------------------------------------
Creditors of LehmBauTec Gesellschaft fuer Oekologische have
until Sept. 27 to register their claims with court-appointed
insolvency manager Peter A. Borchardt.

Creditors and other interested parties are encouraged to attend
the meeting at 10:55 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 Flensburg
         Hall A 220
         Flensburg
         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 A. Borchardt
         c/o Schomerus & Partner
         Deichstrasse 1
         20459 Hamburg
         Germany

The District Court of Flensburg opened bankruptcy proceedings
against LehmBauTec Gesellschaft fuer Oekologische on Aug. 27.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         LehmBauTec Gesellschaft fuer Oekologische
         Bausysteme mbH
         Suen-nerschau 8
         24409 Stoltebuell
         Germany


LOGO MOEBEL: Claims Registration Period Ends Oct. 4
---------------------------------------------------
Creditors of LOGO-Moebel Vertriebsgesellschaft mbH have until
Oct. 4 to register their claims with court-appointed insolvency
manager Sylvia Fiebig.

Creditors and other interested parties are encouraged to attend
the meeting at 11:30 a.m. on Oct. 4, at which time the
insolvency manager will present her first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Detmold
         Meeting Hall 104
         Heinrich-Drake-Str. 3
         32756 Detmold
         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:

         Sylvia Fiebig
         Jungfernstieg 51
         20354 Hamburg
         Germany

The District Court of Detmold opened bankruptcy proceedings
against LOGO-Moebel Vertriebsgesellschaft mbH on Aug. 28.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         LOGO-Moebel Vertriebsgesellschaft mbH
         Bahnhofstr. 9
         32816 Schieder-Schwalenberg
         Germany

         Attn: Andreas Klose, Manager
         Plantagenweg 17
         32825 Blomberg
         Germany


MADACON GMBH: Claims Registration Ends Sept. 20
-----------------------------------------------
Creditors of Madacon GmbH have until Sept. 20 to register their
claims with court-appointed insolvency manager Andre Loeffler.

Creditors and other interested parties are encouraged to attend
the meeting at 9:50 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 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:

         Andre Loeffler
         Klewitzstr. 15
         39112 Magdeburg
         Germany
         Tel: 0391/7324630 o. 39
         Fax: 0391/7324633
         E-Mail: magdeburg@loeffler-insolvenzverwalter.de

The District Court of Magdeburg opened bankruptcy proceedings
against Madacon GmbH on Aug. 27.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Madacon GmbH
         Warschauerstr. 20
         39104 Magdeburg
         Germany


RECK KLINKERBAU: Claims Registration Period Ends Oct. 12
--------------------------------------------------------
Creditors of Reck Klinkerbau GmbH have until Oct. 12 to register
their claims with court-appointed insolvency manager Ulrich
Wenzel.

Creditors and other interested parties are encouraged to attend
the meeting at 8:45 a.m. on Nov. 14, 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. Ulrich Wenzel
         Grossbeerenstrasse 231
         14480 Potsdam
         Germany

The District Court of Potsdam opened bankruptcy proceedings
against Reck Klinkerbau GmbH on Aug. 23.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Reck Klinkerbau GmbH
         Bochower Weg 8
         14913 Jueterbog
         Germany


SERVICE GMBH: Claims Registration Period Ends Oct. 12
-----------------------------------------------------
Creditors of Service GmbH Leulitz have until Oct. 12 to register
their claims with court-appointed insolvency manager Lucas F.
Floether.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Nov. 13, 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 Leipzig
         Hall 145
         First Floor
         Enforcement Court
         Bernhard Goering Strasse 64
         04275 Leipzig
         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
         Specks Hof Eingang C
         Nikolaistrasse 3-5
         04109 Leipzig
         Germany
         Tel: 0341/652200
         Fax: O341/65220111

The District Court of Leipzig opened bankruptcy proceedings
against Service GmbH Leulitz on Aug. 23.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Service GmbH Leulitz
         Attn: Detlef Hopfer, Manager
         Gartenstrasse 15
         04828 Leulitz
         Germany


THESCH HOLZHANDLUNG: Claims Registration Period Ends Oct. 12
------------------------------------------------------------
Creditors of THESCH Holzhandlung GmbH have until Oct. 12 to
register their claims with court-appointed insolvency manager
Markus Lehmkuehler.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on Nov. 13, 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 Cologne
         Meeting Hall 142
         First Floor
         Luxemburger Strasse 101
         50939 Cologne
         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:

         Markus Lehmkuehler
         Wilhelmstr. 40
         53111 Bonn
         Germany

The District Court of Cologne opened bankruptcy proceedings
against THESCH Holzhandlung GmbH on Aug. 16.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         THESCH Holzhandlung GmbH
         Hans-Boeckler-Str. 11
         51503 Roesrath
         Germany

         Attn: Richard Thelen, Manager
         Hans-Boeckler-Str. 11
         51503 Roesrath
         Germany


WALD CLUBREISEN: Creditors Must File Claims by September 26
-----------------------------------------------------------
Creditors of Wald Clubreisen GmbH have until September 26 to
register their claims with court-appointed insolvency manager
Jana Dettmer.

Creditors and other interested parties are encouraged to attend
the meeting at 10:52 a.m. on Oct. 26, 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 Cologne
         Meeting Hall 142
         First Floor
         Luxemburger Strasse 101
         50939 Cologne
         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:

         Jana Dettmer
         Weyerstrasse 54
         50676 Cologne
         Germany

The District Court of Cologne opened bankruptcy proceedings
against Wald Clubreisen GmbH on Aug. 22.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Wald Clubreisen GmbH
         Overbeckstr. 10 a
         50226 Frechen
         Germany


=============
H U N G A R Y
=============


AES CORP: International Coalition Balk at Panama Dam Projects
-------------------------------------------------------------
AES Corp.'s three hydroelectric projects in Panama have been met
with protests from indigenous and environmental groups.

The Post Chronicle says that the Center for Biological Diversity
and 50 indigenous and environmental groups have demanded AES
Corp.'s withdrawal from the projects over concerns of flooding
in La Amistad International Park that threatens wildlife and
communities in the area.  Based on environmental studies
conducted by the protesters, the dams would flood nearby Ngobe
villages, forcing inhabitants to relocate.  As for aquatic
biodiversity, the dams would kill about 11 fish and shrimp
species in the river because the infrastructure would block
their migration between the ocean and the freshwater to complete
their life cycles.

La Amistad International Park, designated a World Heritage site
by the United Nations, forms part of the La Amistad Biosphere
Reserve, one of the most biologically diverse areas on the
planet.  It is home to at least 40 species of fish, 250 species
of reptiles and amphibians, 215 species of mammals, and 600
species of birds, including the resplendent quetzal and the
harpy eagle, the Post Chronicle relates.

AES Corp.'s three dam projects will be on the Changuinola River
that borders the park.  AES and its Panamanian unit, AES
Changuinola, S.A., will operate the three dams.  A fourth dam
would be operated by Hidroecologica del Teribe, S.A., a
subsidiary of the Colombian-owned Empresas Publicas de Medellin,
on the Bonyic River, a tributary of the Rio Teribe, the Post
Chronicle states.

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 on Aug. 23, 2007, Fitch Ratings affirmed AES
Corporation's Issuer Default Rating at 'B+', and assigned a
short-term IDR of 'B'.

Fitch also took 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 affirmed these ratings:

* AES
   -- Senior secured credit facility at 'BB+/RR1';
   -- Junior secured notes at 'BB+/RR1'.


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

The addition of Avail's medical design, manufacturing and
logistics capabilities for disposable medical device products
and medical capabilities afforded by the pending Solectron
acquisition will broaden Flextronics Medical segment's
offerings, and establish Flextronics as supplier and partner for
the medical industry.
   
"When our core medical business is combined with the
capabilities of Avail and the services that we will add from the
pending Solectron acquisition, Flextronics Medical will increase
the range of services it offers customers to include design,
manufacturing and logistics of disposable medical devices, hand
held diagnostics and drug delivery devices and imaging, lab and
life sciences equipment," Dan Croteau, president of Flextronics
Medical, said.  "Not only will we have one of the broadest
ranges of capabilities in the medical industry, this strategic
combination of world-class resources demonstrates our commitment
to providing our medical customers with an unmatched level of
global capabilities."
    
"The combination of Avail and Flextronics Medical will allow us
to build upon our combined global manufacturing footprint and
supply chain organization to provide customers with the services
they require to sustain a competitive edge in the global
marketplace for complex medical products," J. Randall Keene,
president and chief executive officer of Avail, said.  
"Together, we will also have the ability to accelerate product
development and simplify customer supply chains by building upon
Flextronics's advanced electronics capabilities and adding the
disposable medical device experience of Avail."
    
Avail is expected to generate approximately US$250 million of
sales in calendar 2007, from a product portfolio that consists
of disposable medical products that includes catheters, wound
management and drug delivery devices.  

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

               About Avail Medical Products Inc.

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

                About Flextronics International    
    
Headquartered in Singapore Flextronics International Ltd.
(Nasdaq: FLEX) -- http://www.flextronics.com/-- is an  
Electronics Manufacturing Services provider focused on
delivering complete design, engineering and manufacturing
services to automotive, computing, consumer digital, industrial,
infrastructure, medical and mobile OEMs.  Flextronics helps
customers design, build, ship, and service electronics products
through a network of facilities in over 30 countries on four
continents including Brazil, Mexico, Hungary, Sweden, United
Kingdom, among others.

                          *     *     *

Moody's Investor Services placed Flextronics Intenational's long
term corporate family and probability of default ratings at
"Ba1" in June 4, 2007.


=============
I R E L A N D
=============


ADVANCED MEDICAL: Names R. DeRisio VP-Global Regulatory Affairs
---------------------------------------------------------------
Advanced Medical Optics Inc. has appointed Richard J. DeRisio as
vice president for global regulatory affairs.

Mr. DeRisio will oversee development and execution of worldwide
regulatory strategies for AMO's new and existing products, which
are sold in more than 70 countries.

"We are pleased to welcome aboard Richard, as he brings to AMO
more than 25 years of regulatory and professional management
experience in the medical device industry," said AMO Executive
Vice President, Research and Development Leonard Borrmann.  
"Richard's knowledge and expertise will help us continue to
strengthen our global R&D leadership team and support AMO's
growth across its three businesses."

Most recently, Mr. DeRisio served as vice president, global
regulatory affairs at Kinetic Concepts Incorporated, a high
growth medical technology company.  He has held similar
positions at cutting edge device companies including STERIS
Corporation, Computer Motion Incorporated, Johnson & Johnson's
Biosense Webster Incorporated, Sorin Biomedical, and Ventritex
Incorporated.

DeRisio received a bachelor's degree in chemical engineering and
a master's degree in food science & technology from Cornell
University.

Advanced Medical Optics, Inc. -- http://www.amo-inc.com/--  
(NYSE:EYE) develops advanced, life-improving vision technologies
for people of all ages.  Products in the cataract/implant line
include intraocular lenses, phacoemulsification systems,
viscoelastics, and related products used in ocular surgery.  AMO
owns or has the rights to such product brands as ReZoom(R),
Tecnis(R), Clariflex(R), Sensar(R), and Verisyse(R) IOLs,
Sovereign(R), Sovereign(R) Compact and WhiteStar Signature(TM)
phacoemulsification systems with WhiteStar(R) technology,
Healon(R) viscoelastics, and the Baerveldt(R) glaucoma shunt.  
Products in the laser vision correction line include wavefront
diagnostic devices, femtosecond lasers and associated patient
interface devices, and excimer laser vision correction systems
and treatment cards.  AMO brands in the laser vision correction
business include Star S4 IR(R), WaveScan Wavefront(R), Advanced
CustomVue(TM), IntraLase(R) FS, IntraLase Method(TM) and
IntraLasik(R).  Products in the contact lens care line include
disinfecting solutions, enzymatic cleaners and lens rewetting
drops.  Among the eye care product brands the company possesses
are COMPLETE(R), COMPLETE(R) Blink-N-Clean(R), Consept(R)F,
Consept(R) 1 Step, Oxysept(R) 1 Step, UltraCare(R),
Ultrazyme(R), Total Care(TM) and blink(TM) branded products.  
AMO is based in Santa Ana, California, and employs approximately
4,200 worldwide.  The company has operations in 24 countries
like Germany, Japan, Ireland, Puerto Rico, and Brazil and
markets products in approximately 60 countries.

                          *     *     *

As reported in the Troubled Company Reporter on July 9, 2007,
Moody's Investors Service maintains Advanced Medical Optics,
Inc. ratings on review for possible downgrade following AMO's
announcement of its offer for Bausch & Lomb, Inc. for US$75 per
common share in a combination of US$45 in cash and US$30 in AMO
common stock.

These ratings remain on review for possible downgrade: B1
Corporate Family Rating; B1 Probability of Default Rating; Ba1
(LGD2/14%) rating on US$300 million senior secured revolver due
2013; Ba1 (LGD2/14%) rating on US$450 million senior secured
term loan B due 2014; B1 (LGD4/50%) rating on US$250 million
senior subordinated notes due 2017; and B3 (LGD5/81%) rating on
US$251 million convertible senior subordinated notes due 2024.


ADVANCED MEDICAL: S&P Lowers Corporate Credit Rating to B+
----------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Advanced Medical Optics Inc. to 'B+' from 'BB-'; the
ratings have been removed from CreditWatch with negative
implications, where they were placed on Aug. 6, 2007.  The
stable outlook assumes AMO will be able to resolve any issues
related to its inability to comply with covenants on its
revolving credit facility at Sept. 30, 2007, given the greater
value to creditors of this company as a going concern.

At the same time, S&P revised the ratings on AMO's $750 million
senior secured financing, consisting of a $450 million term loan
B due 2014 and a 11$300 million revolving credit facility due
2013. The rating on this debt has been lowered to 'BB-' (one
notch higher than the corporate credit rating on AMO) from 'BB'.  
The recovery rating has been revised to '2', indicating the
expectation of substantial recovery (70%-90%) in the event of a
default, from '1'.

"The downgrade reflects the company's limited financial capacity
resulting from prior debt–financed acquisitions and stock
repurchases," explained Standard & Poor's credit analyst Cheryl
Richer.

AMO's high debt leverage and inability to reduce debt in line
with prior expectations are exacerbated by its May 2007 COMPLETE
multi-purpose lens care solution recall.  While AMO has an
alternative multi-purpose product that it is in the process of
rolling out globally, it will be challenged to regain lost
market share and restore eye care revenues to prior levels.

Our rating on AMO reflects technology risk, competitive risks,
and the ophthalmic company's aggressive efforts to build upon
its well-established position as a midsize player in the
industry. Despite the recent sharp decline in eye care revenues,
these efforts have broadened its product and geographic
diversity and provided a leadership position in its markets; 57%
of revenues are derived outside the U.S. Debt increased by $800
million as a result of the April 2007 acquisition of IntraLase
Corp., and the company's $4.3 billion bid to acquire Bausch &
Lomb (subsequently retracted on Aug. 2, 2007) revealed AMO's
willingness to increase debt leverage to a greater level (more
than 6.5x on an adjusted basis) than that incurred in previous
transactions.

Advanced Medical Optics, Inc. -- http://www.amo-inc.com/--  
(NYSE:EYE) develops advanced, life-improving vision technologies
for people of all ages.  Products in the cataract/implant line
include intraocular lenses, phacoemulsification systems,
viscoelastics, and related products used in ocular surgery.  AMO
owns or has the rights to such product brands as ReZoom(R),
Tecnis(R), Clariflex(R), Sensar(R), and Verisyse(R) IOLs,
Sovereign(R), Sovereign(R) Compact and WhiteStar Signature(TM)
phacoemulsification systems with WhiteStar(R) technology,
Healon(R) viscoelastics, and the Baerveldt(R) glaucoma shunt.  
Products in the laser vision correction line include wavefront
diagnostic devices, femtosecond lasers and associated patient
interface devices, and excimer laser vision correction systems
and treatment cards.  AMO brands in the laser vision correction
business include Star S4 IR(R), WaveScan Wavefront(R), Advanced
CustomVue(TM), IntraLase(R) FS, IntraLase Method(TM) and
IntraLasik(R).  Products in the contact lens care line include
disinfecting solutions, enzymatic cleaners and lens rewetting
drops.  Among the eye care product brands the company possesses
are COMPLETE(R), COMPLETE(R) Blink-N-Clean(R), Consept(R)F,
Consept(R) 1 Step, Oxysept(R) 1 Step, UltraCare(R),
Ultrazyme(R), Total Care(TM) and blink(TM) branded products.  
AMO is based in Santa Ana, California, and employs approximately
4,200 worldwide.  The company has operations in 24 countries
like Germany, Japan, Ireland, Puerto Rico, and Brazil and
markets products in approximately 60 countries.


=========
I T A L Y
=========


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

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

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

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

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

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

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

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

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

                      About Dana Corp.

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

Dana has facilities in China in the Asia-Pacific, Argentina in
the Latin-American regions and Italy in Europe.

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

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

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


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

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

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

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

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

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

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

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

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

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

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

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

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

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

Dana has facilities in China in the Asia-Pacific, Argentina in
the Latin-American regions and Italy in Europe.

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

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

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

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


PARMALAT SPA: Hikes Paid Up Share Capital by EUR118,253
-------------------------------------------------------
Parmalat S.p.A. communicates that, following the allocation of
shares to creditors of the Parmalat Group, the subscribed and
fully paid up share capital has now been increased by EUR118,253
to EUR1,651,954,287 from EUR1,651,836,034.

The share capital increase is due to the exercise of 118,253
warrant.

Latest status of the share allotment:

   -- 35,593,011 shares representing approximately 2.2% of the
      share capital are still in a deposit account c/o Parmalat
      S.p.A., of which:

      -- 13,568,574 or 0.8% of the share capital, registered in
         the name of individually identified commercial
         creditors, are still deposited in the intermediary
         account of Parmalat S.p.A. centrally managed by Monte
         Titoli (compared with 13,814,582 shares as at
         July 24, 2007); and

      -- 22,024,437 or 1.3% of the share capital registered in
         the name of the Foundation, called Fondazione Creditori
         Parmalat, of which:

         -- 120,000 shares representing the initial share
            capital of Parmalat S.p.A. (unchanged);

         -- 21,904,437 or 1.3% of the share capital that pertain
            to currently undisclosed creditors (compared with
            22,784,001 shares as at July 24, 2007).

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that
can be stored at room temperature for months.  It also has about
40 brand product lines, which include yogurt, cheese, butter,
cakes and cookies, breads, pizza, snack foods and vegetable
sauces, soups and juices.

The Company's U.S. operations filed for chapter 11 protection on
Feb. 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
or bankruptcy protection, they reported more than USUS$200
million in assets and debts.  The U.S. Debtors emerged from
bankruptcy on April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on Dec. 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the
Cayman Islands.  Gordon I. MacRae and James Cleaver of Kroll
(Cayman) Ltd. serve as Joint Provisional Liquidators in the
cases.  On Jan. 20, 2004, the Liquidators filed Sec. 304
petition, Case No. 04-10362, in the United States Bankruptcy
Court for the Southern District of New York.  In May 2006, the
Cayman Island Court appointed Messrs. MacRae and Cleaver as
Joint Official Liquidators.  Gregory M. Petrick, Esq., at
Cadwalader, Wickersham & Taft LLP, and Richard I. Janvey, Esq.,
at Janvey, Gordon, Herlands Randolph, represent the Finance
Companies in the Sec. 304 case.

The Honorable Robert D. Drain presides over the Parmalat
Debtors' U.S. cases.


===================
K A Z A K H S T A N
===================


CENTRAL-KAZAKHSTAN UNIVERSITY: Claims Registration Ends Oct. 16
---------------------------------------------------------------
JSC Central-Kazakhstan University has declared insolvency.  
Creditors have until Oct. 16 to submit written proofs of claims
to:

         JSC Central-Kazakhstan University
         Kosmonavtov Str. 1a/4
         Kazybek bi District
         Karaganda
         Kazakhstan


GALIYA LLP: Creditors Must File Claims Oct. 12
----------------------------------------------
The Specialized Inter-Regional Economic Court of North
Kazakhstan has declared LLP Galiya insolvent.

Creditors have until Oct. 12 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of North Kazakhstan
         Valihanov Str. 19-149
         Petropavlovsk
         North Kazakhstan
         Kazakhstan


KAISAR FOOT: Claims Filing Period Ends Oct. 17
----------------------------------------------
The Tax Committee of Almaty region has declared LLP Kaisar Foot
(RNN 091800210563) insolvent.

Creditors have until Oct. 17 to submit written proofs of claims
to:

         The Tax Committee of Almaty
         Room 208
         Jangusurov Str. 113a
         Taldykorgan
         Almaty
         Kazakhstan
         Tel: 8 (3282) 24-19-77


KARDE JSC: Creditors' Claims Due on Oct. 16
-------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan has declared JSC Karde insolvent.

Creditors have until Oct. 16 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of South Kazakhstan
         Ilyaev Str. 24
         Shymkent
         South Kazakhstan
         Kazakhstan
         Tel: 8 (3252) 53-48-34


NAR TAUEKEL: Claims Registration Ends Oct. 17
---------------------------------------------
The Specialized Inter-Regional Economic Court of Jambyl has
declared LLP Nar Tauekel 2001 insolvent.

Creditors have until Oct. 17 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Jambyl
         Pushkin Str. 76
         Lugovaya
         Jambyl
         Kazakhstan


NIKOLAS LLP: Creditors Must File Claims Oct. 12
-----------------------------------------------
The Specialized Inter-Regional Economic Court of North
Kazakhstan has declared LLP Nikolas insolvent.

Creditors have until Oct. 12 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of North Kazakhstan
         Valihanov Str. 19-149
         Petropavlovsk
         North Kazakhstan
         Kazakhstan


PRIDE INT'L: Closes Sale of Drilling & Workover Rig Business
------------------------------------------------------------
Pride International Inc. has completed the sale of its Latin
America land-based drilling and workover rig business and its
E&P Services business to GP Investments Ltd. on the terms
previously disclosed.

                  About Pride International

Headquartered in Houston, Texas, Pride International Inc.
(NYSE: PDE) -- http://www.prideinternational.com/-- provides
onshore and offshore contract drilling and related services in
more than 25 countries, operating a diverse fleet of 277 rigs,
including two ultra-deepwater drillships, 12 semisubmersible
rigs, 28 jackups, 16 tender-assisted, barge and platform rigs,
and 214 land rigs.  The company maintains worldwide operations
in France, Mexico, Kazakhstan, India, and Brazil, among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 4, 2007, Fitch Ratings has affirmed Pride International
Inc.'s Issuer Default Rating at 'BB' in addition to affirming
the ratings on Pride International's senior secured revolving
credit facility, senior unsecured notes and their convertible
senior notes.  The Rating Outlook is Stable.  Fitch maintains
the following ratings for Pride International:

  -- Issuer Default Rating (IDR) at 'BB';
  -- Senior unsecured at 'BB';
  -- Senior secured bank facility at 'BBB-';
  -- Senior convertible notes at 'BB'.

As reported in the Troubled Company Reporter-Latin America on
Aug. 3, 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 ratings affirmed 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.
Moody's said the outlook is stable.

Pride Ratings Affirmed:

-- Ba1 CFR and Probability of Default Rating;

-- US$500 million Senior Notes due 2014 rated Ba2 (LGD5, 71%);

-- US$500 million Senior Secured Credit Facility rated Baa2
    (LGD2, 13%);

-- Speculative Grade Liquidity Rating -- SGL-2;

-- Senior Unsecured Shelf rated (P)Ba2 (LGD5, 71%);

-- Subordinated Shelf rated (P)Ba2 (LGD6, 97%);

-- Preferred Shelf rated Ba2 (LGD6, 97%)


SEIMAR ALLIANCE: Moody's Assigns Ba3/Not-Prime Currency Ratings
---------------------------------------------------------------
Moody's Investors Service assigned Ba3/Not-Prime long- and
short-term foreign currency and local currency issuer ratings to
Seimar Alliance Financial Corporation, the holding company which
includes Alliance Bank, (Ba2/NP/E+) among others.  The outlooks
for the ratings are stable.

According to Moody's, the SAFC's ratings reflect:

   (1) the group's leading position in Kazakhstan's retail
       lending and good positions in retail deposit-taking
       market;

   (2) the reasonable prospects for the further diversification
       of its business;

   (3) SAFC's recognisable brand; and

   (4) its adequate strategy for business expansion.

SAFC's ratings also reflect the low double-leverage ratio (less
than 100%) and Moody's expectations that it will not materially
exceed 100% over the short to medium term.  In addition, the
rating incorporates the rating agency's opinion that the holding
will benefit from a degree of systemic support, because it is
regulated on a consolidated basis by AFN.  In addition, the
support assumptions reflect Moody's view that, in the event of
the holding company becoming bankrupt, the solvency of Alliance
bank is also likely to be negatively affected.

Moody's added that the ratings reflect the structural
subordination of holding company creditors to those of the
group's operating banks, mostly notably Alliance bank in the
event of difficulties.

In addition, the rating is constrained by potential challenges
in managing an array of businesses in the group, including:

   (1) uncertainties over whether risk management and
       operational management are adequate to handle the planned
       rapid growth of the group;

   (2) the significant risk appetite and relatively weak control
       systems on a group-wide basis and

   (3) the high reliance on external wholesale funding for   
       business growth.

Alliance bank is the principal operating subsidiary of SAFC in
terms of balance sheet size and profitability, accounting for
99% of SAFC's assets and 94% of revenues at the end of H1 2007.
The group also has investments in a small bank in Russia, non-
banking lending companies, financial brokerage and business
support companies.

The upgrade of Alliance bank, or improvement in diversification
of businesses, or shift in the weight of the revenue streams
toward the higher-rated companies could form the basis for
upgrading SAFC.  A downgrade of Alliance bank, or the domination
of the revenue-generating structure by the lower-rated companies
in the group, could lead to a downgrade of SAFC.  However, this
is not expected over the near term.

Based in Almaty, Kazakhstan, SAFC is a holding company which
includes a banking segment (represented largely by Alliance
bank), non-banking lending, financial brokerage and business
support segments.  It reported total assets of US$7.3 billion
and equity US$469 million at the end of 2006.


SHUSKAYA REALBAZA: Claims Filing Period Ends Oct. 16
----------------------------------------------------
The Specialized Inter-Regional Economic Court of Jambyl has
declared OJSC shuskaya realbaza hleboproductov insolvent.

Creditors have until Oct. 16 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Jambyl
         Suleymenov Str. 17 (11a)
         Taraz
         Jambyl
         Kazakhstan
         Tel: 8 (3262) 43-76-49


UJBAT LLP: Creditors' Claims Due on Oct. 16
-------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan has declared LLP Sp Ujbat insolvent.

Creditors have until Oct. 16 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of South Kazakhstan
         Ilyaev Str. 24
         Shymkent
         South Kazakhstan
         Kazakhstan
         Tel: 8 (3252) 53-48-34


===================
K Y R G Y Z S T A N
===================


AK-SUU ELECTRO: Proof of Claim Deadline Slated for October 17
-------------------------------------------------------------
LLC Ak-Suu Electro has declared insolvency.  Creditors have
until Oct. 17 to submit written proofs of claim to:

         LLC Ak-Suu Electro
         Sovetskaya Str. 135-5
         Bishkek
         Kyrgyzstan


===========
P O L A N D
===========


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

  (a) Dec. 1, 2007; or

  (b) the effective date of a plan of reorganization.

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

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

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

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

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

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

                      About Federal-Mogul

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

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

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


===========
R U S S I A
===========


A AND M PRODUCTION: Creditors Must File Claims by Sept. 11
----------------------------------------------------------
Creditors of CJSC A and M Production (TIN 7720124933) have until
Sept. 11 to submit proofs of claim to:

         V. Fedichev
         Insolvency Manager
         Premise 10N
         Letter A
         Bolshoj Pr. P.S. 79
         197022 St. Petersburg
         Russia

The Arbitration Court of St. Petersburg and Leningrad commenced
bankruptcy proceedings against the company after finding it
insolvent.  The case is docketed under Case No. A56-16310/2007.

The Court is located at:

         The Arbitration Court of St. Petersburg and the                     
               
         Leningrad
         Hall 113
         Suvorovskiy Pr. 50/52
         St. Petersburg
         Russia

The Debtor can be reached at:

         CJSC A and M Production
         Premise 10-N
         Letter A
         Elizarova Pr. 40
         192148 St. Petersburg
         Russia


BALT-RYB-MOR-PROM: Court Starts Bankruptcy Supervision Procedure
----------------------------------------------------------------
The Arbitration Court of Kaliningrad commenced bankruptcy
supervision procedure on CJSC Balt-Ryb-Mor-Prom (TIN3905023345).
The case is docketed under Case No. 4527.

The Temporary Insolvency Manager is:

         A. Popov
         Temporary Insolvency Manager
         Mira Pr. 136-510
         236010 Kaliningrad
         Russia

The Court is located at:  

         The Arbitration Court of Kaliningrad
         Rokossovskogo Str. 2
         Kaliningrad
         Russia

The Debtor can be reached at:

         CJSC Balt-Ryb-Mor-Prom
         Borodinskaya Str. 15
         236010 Kaliningrad
         Russia


CONTEMPORARY BUILDING: Court Names V. Lasko to Manage Assets
------------------------------------------------------------
The Arbitration Court of Kaliningrad appointed V. Lasko as
Insolvency Manager for LLC Building Company Contemporary
Building Technologies.  He can be reached at:

         V. Lasko
         Inzhenernaya Str. 2-19
         236005 Kaliningrad
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A21-2107/07.

The Court is located at:  

         The Arbitration Court of Kaliningrad
         Rokossovskogo Str. 2
         Kaliningrad
         Russia

The Debtor can be reached at:

         V. Lasko
         Inzhenernaya Str. 2-19
         236005 Kaliningrad
         Russia


GORNENSKOE CJSC: Creditors Must File Claims by Oct. 11
------------------------------------------------------
Creditors of CJSC Gornenskoe (TIN/KPP 6148006044/614801001) have
until Oct. 11 to submit proofs of claim to:

         D. Vasilyev
         Insolvency Manager
         Stanislavskogo Str. 9
         344082 Rostov-na-Donu
         Russia

The Arbitration Court of Rostov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. A53-5873/07-S1-43.

The Court is located at:

         The Arbitration Court of Rostov
         Stanislavskogo Str. 8a
         344008 Rostov-na-Donu
         Russia

The Debtor can be reached at:

         CJSC Gornenskoe
         Tsentralnaya Str. 1
         Gornyj
         Krasnosulinskiy
         346385 Rostov
         Russia


KHABAROV-FISH LLC: Creditors Must File Claims by Oct. 11
--------------------------------------------------------
Creditors of LLC khabarov-fish (TIN 2721092315) have until
Oct. 11 to submit proofs of claim to:

         V. Perepilitsa
         Insolvency Manager
         Office 7
         Amurskiy Avenue 11
         680028 Khabarovsk
         Russia

The Arbitration Court of Khabarovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A73-13201/2006-39.

The Debtor can be reached at:

         LLC Khabarov-Fish
         Office 1
         Kavkazskaya Str. 35
         680000 Khabarovsk
         Russia


NOVOLIPETSK STEEL: Earns US$1.1 Billion in First Half 2007
----------------------------------------------------------
OJSC Novolipetsk Steel released consolidated financial results
for the first half ended June 30, 2007, prepared according to US
generally accepted accounting principles.

In the first half of 2007, NLMK's sales revenue reached
US$3.6 billion, an increase of 42% compared with the
corresponding period of the previous year.  The key factors
contributing to the level of revenue and profit were:

    * prices increases for the products sold by the Group

    * consolidation of Altai-koks starting April 2006 and VIZ-
      Stal starting August 2006

    * since March 2006 conditions for the delivery of exported
      products have changed.  The sales price for NLMK's
      products now also include transportation costs to
      customers, border terminal or sea port.

Gross profit in the first half of 2007 amounted to US$1.7
billion, an increase of 52% compared with the first half of
2006.  Operating profit was US$1.4 billion, an increase of
50%.

In the first half of 2007 EBITDA amounted to US$1.6 billion, an
increase of 59% compared with the corresponding period of the
previous year.  The EBITDA margin for the first half of 2007 was
44%, an increase of 5 percentage points compared with the first
half of 2006.

NLMK Group's net profit in the first half of 2007 amounted to
US$1.1 billion, an increase of 13% compared with the
corresponding period last year.  The decrease of net profit
growth rates is due to a significant non-recurring income from
the sale of stake in Lebedinsky GOK in the first half of 2006.  
If the effect of the non-recurring sale of assets is eliminated,
NLMK's net profit growth in the first half of 2007 would be 57%.

In the second quarter of 2007 revenue grew by 6% or US$108.7
million compared with the first quarter of 2007.

In the first quarter of 2007 NLMK settled supply prices for
coking coal concentrate, iron ore raw materials and energy until
the end of the year, which resulted in stabilizing of costs and
increase of profit growth rates in the second quarter of 2007.

Gross profit increased by 14% or US$113.5 million compared with
the first quarter of 2007, while operating profit grew by 16% or
US$103.8 million.

Compared with the first quarter of 2007, net profit for the
second quarter of 2007 grew by 33% which is attributable to
recognition of financial results on disposal of Prokopievskugol
Group of Coal Companies and Lipetskcombank in the second quarter
of 2007 that totaled US$81.5 million.

The consolidated income statement for the first half of 2007
recognizes equity in net earnings of Steel Invest and Finance
S.A. (JV with Duferco Group) with total amount of US$7.7
million.

According to unaudited IFRS financial statements of Steel Invest
and Finance S.A. prepared by the management, revenue in the
first half of 2007 was US$1.9 billion, EBITDA US$142.6 million,
and net profit US$55.9 million

The financial results of Steel Invest and Finance S.A. are
recognized in NLMK's income statement with a reference to NLMK
share in company's authorized capital (50%), as well as
adjustments in accordance with US GAAP principles.  After
completion of a fair valuation of the fixed assets of Steel
Invest and Finance S.A and agreement of the final value of
NLMK's share the amount of corrections could be changed.

As of June 30, 2007, NLMK's assets reached US$9.4 billion, an
increase of 8% compared with Dec. 31, 2006.

The share of the Company's own capital in the sources used to
finance NLMK's operations is permanently high and at the end of
the first half of 2007 was 82%.

The Group's balance sheet structure reflects the financial
stability of the company, which is confirmed by the obtaining
highest credit ratings among Russian steelmakers.

NLMK's highly liquid assets substantially exceed the amount of
its debt.  NLMK's cash and cash equivalents position as at
June 30, 2007 amounted to US$1.3 billion, an increase of 100%
(or US$683.3 million) compared to Dec. 31, 2006.

In the first half of 2007, the annualized return on assets was
23% and annualized return on equity was 29%.  These ratios are
lower than in the first half of 2006 due to additional non-
recurring gain from the divestment of NLMK's interest in
Lebedinsky GOK in the first quarter of 2006.

                             Outlook

NLMK expects to see the traditional softening of the Russian
flat steel market due to seasonal factors towards the end of
2007.  The world market is expected to be saturated with flat
products, also due to the traditional slowdown at the end of the
year.  This will increase the risk of price falls in both export
and domestic markets.

Despite this, in 2007 as a whole, the Group expects growth of
sales revenue and operating profit.  It is also forecasting 2007
EBITDA growth compared with 2006 numbers.

                      About Novolipetsk

Headquartered in Lipetsk, Russia, Novolipetsk Steel OJSC --
http://www.nlmksteel.com/-- manufactures pig iron, slabs, hot-
rolled steel, and a variety of value-added steel products, such
as cold-rolled sheet, electrical steel and other specialty flat
products.  The group also operates in Denmark and Japan.

The group entered the Danish steel market in the first quarter
of 2006 by acquiring a 100% stake at DanSteel A/S.

                           *   *   *

As reported in the TCR-Europe on Aug. 29, 2007, Fitch Ratings
affirmed OJSC Novolipetsk Steel's Long-term Issuer Default
rating at 'BB+', Short-term IDR at 'B' and National Long-term
rating at 'AA(rus)'.  Fitch said the Outlooks for the Long-term
IDR and National Long-term rating are Stable.

In April 2007, Moody's Investors Service's confirmed its Ba1
Corporate Family Rating for Novolipetsk Steel OJSC.  Moody's
also assigned a Ba1 Probability-of-Default rating to the
company.

In December 2006, Standard & Poor's Ratings Services said that
its ratings and outlook on Russian steelmaker OJSC Novolipetsk
Steel (NLMK;BB+/Stable/--; Russia national scale 'ruAA+') are
unchanged by the announcement of NLMK's acquisition of a 50%
share in a joint venture with Duferco Group for US$850 million.


ONEZHSKIY TRACTOR: Creditors Must File Claims by Oct. 11
--------------------------------------------------------
Creditors of OJSC Onezhskiy Tractor Factory have until Oct. 11
to submit proofs of claim to:

         F. Shepskis
         Insolvency Manager
         Premise 4N
         Letter B
         4th Sovetskaya Str. 20
         191036 St. Petersburg
         Russia

The Arbitration Court of Kareliya commenced bankruptcy
proceedings against the company after finding it insolvent.  
The case is docketed under Case No. A26-7111/2005-183.

The Debtor can be reached at:

         OJSC Onezhskiy Tractor Factory
         Kalinina Str. 1
         Petrozavodsk
         185910 Kareliya
         Russia


PETROVSKOE OJSC: Court Names M. Kovaleva as Insolvency Manager
--------------------------------------------------------------
The Arbitration Court of Rostov appointed M. Kovaleva as
Insolvency Manager for OJSC Petrovskoe.  She can be reached at:

         M. Kovaleva
         Office 317
         Serafimovicha Str. 58
         344002 Rostov-na-Donu
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A53-1426/06-S2-8.

The Court is located at:

         The Arbitration Court of Rostov
         Stanislavskogo Str. 8a
         344008 Rostov-na-Donu
         Russia

The Debtor can be reached at:

         OJSC Petrovskoe
         Petrovka
         Myasnikovskiy
         Rostov
         Russia


ROS-TEKH-NERUD: Creditors Must File Claims by Sept. 11
------------------------------------------------------
Creditors of CJSC Ros-Tekh-Nerud (TIN 6162035657) have until
Sept. 11 to submit proofs of claim to:

         K. Kovalenko
         Insolvency Manager
         Yufimtseva Str. 14
         Rostov-na-Donu
         Russia

The Arbitration Court of Rostov commenced bankruptcy proceedings
against the company after finding it insolvent.  The Court will
convene at 2:30 p.m. on Nov. 27 to hear the company's bankruptcy
supervision procedure.  The case is docketed under Case No. A53-
8464/07-S1-33.

The Court is located at:

         The Arbitration Court of Rostov
         Stanislavskogo Str. 8a
         344008 Rostov-na-Donu
         Russia

The Debtor can be reached at:

         CJSC Ros-Tekh-Nerud
         Krasnoarmeyskaya Str. 176/46
         Rostov-na-Donu
         Russia


SABLE LLC: Creditors Must File Claims by Sept. 11
-------------------------------------------------
Creditors of LLC Sable (OGRN 1051402089353) have until Sept. 11
to submit proofs of claim to:

         N. Mamrukov
         Temporary Insolvency Manager
         Krupskoj Str. 35
         Yakutsk
         677007 Sakha-Yakutiya
         Russia

The Arbitration Court of Sakha-Yakutiya will convene on Dec. 19
to hear the company's bankruptcy supervision procedure.  The
case is docketed under Case No. A58-3441/07.

The Court is located at:

         The Arbitration Court of Sakha-Yakutiya
         Kurashova Str. 28
         677000 Sakha-Yakutiya
         Russia

The Debtor can be reached at:

         LLC Sable
         Apartment 10
         Kalvista Str. 7/1
         Yakutsk
         Sakha-Yakutiya
         Russia


SERPUKHOVSKIY DIARY: Creditors Must File Claims by Sept. 11
-----------------------------------------------------------
Creditors of OJSC Serpukhovskiy Diary have until Sept. 11 to
submit proofs of claim to:

         E. Ivanov
         Temporary Insolvency Manager
         Post User Box 6
         127287 Moscow
         Russia

The Arbitration Court of Moscow will convene at 2:30 p.m. on
Oct. 30 to hear the company's bankruptcy supervision procedure.  
The case is docketed under Case No. A41-K2-11100/07.

The Court is located at:

         The Arbitration Court of Moscow
         Novaya Basmannaya Str. 10
         Moscow
         Russia

The Debtor can be reached at:

         OJSC Serpukhovskiy Diary
         Festivalnaya Str., 20
         Serpukhov
         142203 Moscow
         Russia


SIBIRSKO-URALSKIY: Creditors Must File Claims by Oct. 11
--------------------------------------------------------
Creditors of OJSC Permskiy Gas-Processing Factory Sibirsko-
Uralskiy Oil-Gas-Chemical Company (TIN 5905000020) have until
Oct. 11 to submit proofs of claim to:

         Y. Demenkov
         Insolvency Manager
         Post User Box 244
         400005 Volgograd
         Russia

The Arbitration Court of Perm commenced bankruptcy proceedings
against the company after finding it insolvent.  
The case is docketed under Case No. A50-1161/2007-B.

The Court is located at:

         The Arbitration Court of Perm
         Lunacharskogo Str. 3
         Perm
         Russia

The Debtor can be reached at:


         OJSC Permskiy Gas-Processing Factory Sibirsko-Uralskiy
         Oil-Gas-Chemical Company
         Osentsy
         614055 Perm
         Russia


SLAVYANKA LLC: Primorye Bankruptcy Hearing Slated for Nov. 1
------------------------------------------------------------
The Arbitration Court of Primorye will convene on Nov. 1 to hear
the bankruptcy supervision procedure on LLC Fishing Factory
Slavyanka.  The case is docketed under Case No. A51-5043/
2007 15-51B.

The Temporary Insolvency Manager is:

         M. Vozzhin
         Office 201
         Promyshlennaya Str. 20
         680009 Khabarovsk
         Russia

The Debtor can be reached at:

         LLC Fishing Factory Slavyanka
         Nerpitskaya Str.
         Slavyanka, 3
         Khasanskiy
         698701 Primorye
         Russia


TERMINAL CJSC: Creditors Must File Claims by Sept. 11
-----------------------------------------------------
Creditors of CJSC Terminal have until Sept. 11 to submit proofs
of claim to:

         A. Rodionov
         Temporary Insolvency Manager
         Post User Box 2004
         Central Post Office
         650000 Kemerovo
         Russia

The Arbitration Court of Tyumen will convene at 9:00 a.m. on
Oct. 9 to hear the company's commenced bankruptcy supervision.
The case is docketed under Case No. A70-3610/3-07.

The Court is located at:

         The Arbitration Court of Tyumen
         Khokhryakova Str. 77
         627000 Tyumen
         Russia

The Debtor can be reached at:

         CJSC Terminal
         Respubliki Str. 155a
         Tyumen
         Russia


TITAN PETROCHEM: To Buy Quanzho Shipyard for US$170 Million
-----------------------------------------------------------
Titan Petrochemicals Group will buy from its controlling
shareholder, Titan Oil Pte Ltd, a shipyard at Quanzhou in the
southeastern Fujian province for US$170 million in order to
expand its logistics business, various reports say.  

Citing the company's statement, media reports note that Titan
Petrochemicals will satisfy the acquisition by paying
US$56.9 million cash for Titan Quanzhou Shipyard, and the
remainder by issuing ordinary and preferred shares.

Of the gains from the issuance of ordinary and preferred shares,
US$29 million is subject to change depending on financial
results performance during a period of three years, Infocast
News says.  

The shipyard, according to Titan Petrochem, has ship repair,
ship building and offshore engineering operations, and currently
has orders for 22 vessels, amounting to US$210 million.

Once the deal is completed, Titan Oil and affiliates will now
hold 58.8% of the company, The Standard relates.

According to the reports, all conditions precedent to the
acquisition have to be fulfilled or waived by November 30.  The
financial adviser to Titan Petrochemicals for the deal is
Merrill Lynch.

Titan Petrochemicals Group Ltd -- http://www.petrotitan.com/--  
is an Asian integrated oil logistics, distribution and supply
services provider.  It was listed on the Hong Kong Stock
Exchange in 2002.  Headquartered in Hong Kong, its operations
are spread over Singapore, Malaysia and China. It also operates
in Russia and Panama.  It manages 25 tankers and has on-shore
storage facilities in Guangdong, Fujian and Shanghai.  On March
29, 2007, Moody's Investors Service affirmed the B1 corporate
family rating of Titan Petrochemicals Group Ltd and its senior
unsecured bond rating of B2.  This follows Titan's announcement
of its fiscal year 2006 results, which show a 9.5% increase in
sales but a marked decline in net income by 67%.

On May 4, 2006, the Troubled Company Reporter-Asia Pacific
reported that the Standard & Poor's Ratings Services revised its
outlook on Titan Petrochemicals Group Ltd. to negative from
stable.  At the same time, it affirmed the "BB-" long-term
corporate credit rating on Titan.  The "B+" issue rating on the
company's senior unsecured notes was also affirmed.


ZOLOTAYA SUTARA: Creditors Must File Claims by Sept. 11
-------------------------------------------------------
Creditors of CJSC Zolotaya Sutara (TIN 7902004292) have until
Sept. 11 to submit proofs of claim to:

         D. Bichutskiy
         Temporary Insolvency Manager
         Post User Box 47
         Birobidzhan-17
         679017 Evreyskiy
         Russia

The Arbitration Court of Evreyskiy commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. A16-478/2007-5.

The Debtor can be reached at:

         CJSC Zolotaya Sutara
         Verkhnaya Str., 4
         Obluchye
         Evreyskiy
         Russia


=========
S P A I N
=========


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

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

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

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

                          *     *     *

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


===========
S W E D E N
===========


SAS AB: S&P Holds BB Ratings on Midsize Route Network
-----------------------------------------------------
Standard & Poor's Ratings Services had assigned its 'BB' long-
term corporate credit rating to Scandinavian airline and travel
group, SAS AB.  The outlook is stable.

"The ratings on SAS reflect the group's midsize route network
serving competitive markets and the inherent risk of the airline
industry.  These factors are offset somewhat by its strong
position in the Nordic market and improving credit profile,"
said Standard & Poor's credit analyst Leigh Bailey.

SAS is Europe's fourth-largest passenger airline, with revenues
in 2006 of SEK60.8 billion.

At June 30, 2007, credit protection measures were satisfactory
for the ratings, reflected by 33% funds from operations to
adjusted debt, which is above average for the ratings.  This is
balanced by an aggressively leveraged balance sheet.

SAS's financial flexibility and liquidity are satisfactory.  At
June 30, 2007, the airline had cash and cash equivalents of
SEK9.96 million and unused committed credit lines of SEK6.07
million.

"We expect cash flows to remain positive in 2007 and 2008,
reflecting improved trading performance and limited capital
spending," Mr. Bailey said.

The stable outlook reflects Standard & Poor's expectation that
an improving revenue environment and increased efficiencies
linked to cost reduction programs should allow the group to
improve operating performance and maintain credit ratios in line
with our expectations.


=====================
S W I T Z E R L A N D
=====================


DVD CORNER: Creditors' Liquidation Claims Due September 12
----------------------------------------------------------
Creditors of LLC DVD Corner have until Sept. 12 to submit their
claims to:

         Mitteldorfstrasse 2
         8442 Hettlingen
         Winterthur ZH
         Switzerland

The Debtor can be reached at:

         LLC DVD Corner
         8442 Hettlingen
         Winterthur ZH
         Switzerland


GCI MANAGEMENT: Zug Court Closes Bankruptcy Proceedings
-------------------------------------------------------
The Bankruptcy Service of Zug entered Aug. 2 an order closing
the bankruptcy proceedings of JSC GCI Management.

The Bankruptcy Service of Zug can be reached at:

         Bankruptcy Service of Zug
         6300 Zug
         Switzerland

The Debtor can be reached at:

         JSC GCI Management
         Zugerstrasse 74
         6340 Baar ZG
         Switzerland


GLOBAL HOUSE: Creditors' Liquidation Claims Due September 12
------------------------------------------------------------
Creditors of LLC Global House have until Sept. 12 to submit
their claims to:

         Pietro Melcarne
         Liquidator
         Grafschaftsstr. 87
         8172 Niederglatt
         Dielsdorf ZH
         Switzerland

The Debtor can be reached at:

         LLC Global House
         Bachenbulach
         Bulach ZH
         Switzerland


IGM INTERNATIONAL: Creditors' Liquidation Claims Due Sept. 12
-------------------------------------------------------------
Creditors of LLC IGM International have until Sept. 12 to submit
their claims to:

         PF. 115
         8636 Wald
         Hinwil ZH
         Switzerland

The Debtor can be reached at:

         LLC IGM International
         Wald
         Hinwil ZH
         Switzerland


IMBA-TEXTIL JSC: Creditors' Liquidation Claims Due September 12
---------------------------------------------------------------
Creditors of JSC Imba-Textil have until Sept. 12 to submit their
claims to:

         Pascal Kappler
         Liquidator
         Hofackerstrasse 11
         9524 Zuzwil
         Wil SG
         Switzerland

The Debtor can be reached at:

         JSC Imba-Textil
         Rorschach
         Wahlkreis Rorschach SG
         Switzerland


MAKIS NATURSTEINE: Creditors' Liquidation Claims Due Sept. 10
-------------------------------------------------------------
Creditors of LLC MAKIS Natursteine have until Sept. 10 to submit
their claims to:

         Markus Kistler
         Liquidator
         Jakob Burckhardt-Strasse 67
         4052 Basel BS
         Switzerland

The Debtor can be reached at:

         LLC MAKIS Natursteine
         Binningen
         Arlesheim BL
         Switzerland


MATTIG-PLAN LLC: Creditors' Liquidation Claims Due September 10
---------------------------------------------------------------
Creditors of LLC mattig-plan have until Sept. 10 to submit their
claims to:

         Patric Mattig
         Liquidator
         Weierweg 14
         5722 Granichen
         Aarau AG
         Switzerland

The Debtor can be reached at:

         LLC mattig-plan
         Elgg
         Winterthur ZH
         Switzerland


TAKOTEX JSC: St. Gallen Court Closes Bankruptcy Proceedings
-----------------------------------------------------------
The Bankruptcy Service of St. Gallen entered July 27 an order
closing the bankruptcy proceedings of JSC Takotex.

The Bankruptcy Service of St. Gallen can be reached at:

         Bankruptcy Service of St. Gallen
         Branch Buchs
         Urs Hartmann
         9471 Buchs
         Werdenberg SG
         Switzerland

The Debtor can be reached at:

         JSC Takotex
         Bahnhofplatz 3
         9430 St. Margrethen
         Wahlkreis Rheintal SG
         Switzerland


XT XENA: Claims Registration Period Ends September 10
-----------------------------------------------------
The Bankruptcy Court of Aargau commenced bankruptcy proceedings
against JSC XT Xena Technology on June 11.

Creditors have until Sept. 10 to file their written proofs of
claim.

The Bankruptcy Service of Aargau can be reached at:

         Bankruptcy Service of Aargau
         Office Oberentfelden
         5036 Oberentfelden
         Aarau AG
         Switzerland

The Debtor can be reached at:

         JSC XT Xena Technology
         Berger Treuhand
         Laurenzenvorstadt 89
         5001 Aarau AG
         Switzerland


ZELLER WIL: Claims Registration Period Ends September 10
--------------------------------------------------------
The Bankruptcy Court of St. Gallen commenced bankruptcy
proceedings against JSC Zeller Wil on July 13.

Creditors have until Sept. 10 to file their written proofs of
claim.

The Bankruptcy Service of St. Gallen can be reached at:

         Bankruptcy Service of St. Gallen
         Branch Oberuzwil
         Schlapfer
         9242 Oberuzwil
         Wahlkreis Wil SG
         Switzerland

The Debtor can be reached at:

         JSC Zeller Wil
         Obere Bahnhofstrasse 28
         9500 Wil SG
         Switzerland


=============
U K R A I N E
=============


ANASTACY-COMPANY LLC: Creditors Must File Claims by September 7
---------------------------------------------------------------
Creditors of LLC Anastacy-Company (code EDRPOU 24232413) have
until Sept. 7 to submit written proofs of claim to:

         The Economic Court of Dnipropetrovsk
         Kujbishev Str. 1a
         49600 Dnipropetrovsk
         Ukraine

The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. B 26/9-07.

The Debtor can be reached at:

         LLC Anastacy-Company
         Marinopol
         Nikopol District
         53200 Dnipropetrovsk
         Ukraine
         

GALOL-SM OJSC: Creditors Must File Claims by September 7
--------------------------------------------------------
Creditors of OJSC Galol-SM (code EDRPOU 25234644) have until
Sept. 7 to submit written proofs of claim to:

         The Economic Court of Lvov
         Lichakivska Str. 81
         79010 Lvov
         Ukraine

The Economic Court of Lvov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 6/77-8/92.

The Debtor can be reached at:

         OJSC Galol-SM
         Turash Str. 15
         Drogobych
         82100 Lvov
         Ukraine


KOLOS LLC: Proofs of Claim Deadline by September 7
--------------------------------------------------
Creditors of LLC Agricultural Firm Kolos (code EDRPOU 03741903)
have until Sept. 7 to submit written proofs of claim to:

         Nikolay Lukashuk
         Temporary Insolvency Manager
         P.O. Box 2558
         Krivoy Rog
         50051 Dnipropetrovsk
         Ukraine

The Economic Court of Dnipropetrovsk commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. B 26/172-07.

The Court is located at:

         The Economic Court of Dnipropetrovsk
         Kujbishev Str. 1a
         49600 Dnipropetrovsk
         Ukraine

The Debtor can be reached at:

         LLC Agricultural Firm Kolos
         Strokar Str. 10
         Ordo-Vasilievka
         Sofiya District
         Dnipropetrovsk
         Ukraine


KUYBYSHEV JOINT: Creditors Must File Claims by September 7
----------------------------------------------------------
Creditors of Kuybyshev Joint Agricultural Enterprise (code
EDRPOU 03740660) have until Sept. 7 to submit written proofs of
claim to:

         Nikolay Lukashuk
         Temporary Insolvency Manager
         P.O. Box 2558
         Krivoy Rog
         50051 Dnipropetrovsk
         Ukraine

The Economic Court of Dnipropetrovsk commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. B 26/171-07.

The Court is located at:

         The Economic Court of Dnipropetrovsk
         Kujbishev Str. 1a
         49600 Dnipropetrovsk
         Ukraine

The Debtor can be reached at:

         Kuybyshev Joint Agricultural Enterprise
         Shkolnaya Str. 1
         1st May
         Sofiya District
         Dnipropetrovsk
         Ukraine


OLIMP LLC: Proofs of Claim Deadline by September 7
--------------------------------------------------
Creditors of LLC Olimp (code EDRPOU 30791524) have until Sept. 7
to submit written proofs of claim to:

         Aleksey Gula
         Temporary Insolvency Manager
         Apartment 134
         Sovetskaya Str. 43
         Novomoskovsk
         51200 Dnipropetrovsk
         Ukraine

The Economic Court of Dnipropetrovsk commenced bankruptcy
supervision procedure on the company on July 2.  The case is
docketed under Case No. B 40/144-07.

The Court is located at:

         The Economic Court of Dnipropetrovsk
         Kujbishev Str. 1a
         49600 Dnipropetrovsk
         Ukraine

The Debtor can be reached at:

         LLC Olimp
         Dmitrovka
         Nikopol District
         Dnipropetrovsk
         Ukraine


PRAVEX BANK: Fitch Rates IDR at B- on Weak Capitalization
---------------------------------------------------------
Fitch Ratings has assigned Ukraine's Pravex Bank a Long-term
Issuer Default rating 'B-' with Stable Outlook, Short-term IDR
'B', Individual 'D/E', Support '5', Support Floor of 'No Floor'
and National Long-term rating of 'BBB(ukr)' with Stable Outlook.

The Long- and Short-term IDRs reflect high credit and
operational risks resulting from rapid loan expansion, lending
to higher-risk segments, moderate liquidity and weak
capitalization.  The ratings also acknowledge the bank's
satisfactory profitability, moderate concentrations and
insignificant share of related parties on both sides of the
balance sheet.

A ratings upgrade could result from strengthened capitalization
and the bank's ability to keep asset quality under control as
loans season. Downward rating pressure might come from further
declines in capitalization, deterioration of asset quality or
weakening of liquidity.

Pravex was founded in 1992 by Mr Leonid Chernovetskiy, Kiev's
mayor since April 2006.  Pravex is focused on servicing retail
customers and SMEs. There is at present no significant
contribution of business with the City of Kiev's administration
or institutions under its control on Pravex's operations.  The
bank started more aggressive regional expansion in 1999 and its
network is one of the most developed among Ukrainian banks.  At
end-H107, Pravex had 540 branches, 2,700 points of sale and
1,450 ATMs.  Pravex was the 22nd-largest bank in Ukraine by
total assets, with 1.1% market share at end of first half of
2007.


PROGRESS LLC: Proofs of Claim Deadline by September 7
-----------------------------------------------------
Creditors of LLC Progress (code EDRPOU 03740789) have until
Sept. 7 to submit written proofs of claim to:

         Nikolay Lukashuk
         Temporary Insolvency Manager
         P.O. Box 2558
         Krivoy Rog
         50051 Dnipropetrovsk
         Ukraine

The Economic Court of Dnipropetrovsk commenced bankruptcy
supervision procedure on the company on June 27.   The case is
docketed under Case No. B 26/170-07.

The Court is located at:

         The Economic Court of Dnipropetrovsk
         Kujbishev Str. 1a
         49600 Dnipropetrovsk
         Ukraine

The Debtor can be reached at:

         LLC Progress
         Sofiya District
         Progressovskaya Str. 5
         Nikolaevka
         Dnipropetrovsk
         Ukraine


SHEVCHENKO LLC: Proofs of Claim Deadline by September 7
-------------------------------------------------------
Creditors of Shevchenko LLC (code EDRPOU 03741926) have until
Sept. 7 to submit written proofs of claim to:

         Constantine Romanov
         Temporary Insolvency Manager
         P.O. Box 3740
         49064 Dnipropetrovsk
         Ukraine

The Economic Court of Dnipropetrovsk commenced bankruptcy
supervision procedure on the company on June 27.  The case is
docketed under Case No. B 26/169-07.

The Court is located at:

         The Economic Court of Dnipropetrovsk
         Kujbishev Str. 1a
         49600 Dnipropetrovsk
         Ukraine

The Debtor can be reached at:

         Shevchenko LLC
         Tezikov Str. 5
         Zhovte
         Sofiya District
         Dnipropetrovsk
         Ukraine


UKRAINIAN ENERGY: Creditors Must File Claims by September 7
-----------------------------------------------------------
Creditors of LLC Ukrainian Energy Service (code EDRPOU 31575604)
have until Sept. 7 to submit written proofs of claim to:

         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. 21/162/06.

The Debtor can be reached at:

         LLC Ukrainian Energy Service
         P.O. Box 11
         Energodar
         71500 Zaporozhje
         Ukraine


VODIANO LLC: Proofs of Claim Deadline by September 7
----------------------------------------------------
Creditors of LLC Vodiano (code EDRPOU 00429542) have until
Sept. 7 to submit written proofs of claim to:

         Nikolay Lukashuk
         Temporary Insolvency Manager
         P.O. Box 2558
         Krivoy Rog
         50051 Dnipropetrovsk
         Ukraine

The Economic Court of Dnipropetrovsk commenced bankruptcy
supervision procedure on the company.  The case is docketed
under Case No. B 26/173-07.

The Court is located at:

         The Economic Court of Dnipropetrovsk
         Kujbishev Str. 1a
         49600 Dnipropetrovsk
         Ukraine

The Debtor can be reached at:

         LLC Vodiano
         Central Str. 18
         Vodiano
         Sofiya District
         Dnipropetrovsk
         Ukraine


===========================
U N I T E D   K I N G D O M
===========================


CORNERSTONE TITAN 2005-2: S&P Rates Class G Notes at BB
-------------------------------------------------------
Standard & Poor's Ratings Services has removed from CreditWatch
with positive implications and raised its ratings on the class
D, E, and F notes issued by Cornerstone Titan 2005-2 PLC.  At
the same time, the ratings on the class A, X, B, C, and G notes
were affirmed.
  
The class D, E, and F notes were placed on CreditWatch positive
on Aug. 22, 2007.  This rating action follows a review of the
transaction based on data provided by the servicer, Capmark
Services Ireland Ltd., up to and including July 2007.
  
The ratings on the class C and D notes were raised in November
2006 as a result of improved LTV ratios and credit enhancement
levels, following the prepayment of the Bankside Estate
Portfolio loans: Bankside and New Court (together 61.3% of the
original pool balance), at the October 2006 interest payment
date.
  
At that time, the prepayment proceeds were applied 50% pro rata
and 50% sequential, and scheduled amortization was also applied
sequentially to the notes.
  
However, as the application of the prepayment proceeds would
result in the triggering of the sequential redemption profile
(triggered if aggregate outstanding balance reduces by 50% of
the original outstanding balance), then more of the prepayment
proceeds would have to be applied sequentially rather than just
50%.
  
The cash manager, ABN AMRO Bank N.V., issued a revised report
that noted the revised payment profile which has subsequently
resulted in improved credit enhancement levels and LTV ratios.  
This, coupled with the steady performance, has resulted in
today's rating actions.
  
The transaction closed in December 2005 and was originally
backed by seven loans secured on nine commercial real estate
properties in England with a concentration in central London
(67.7% of Day 1 pool balance).  It was the second transaction in
the Cornerstone Titan program to be undertaken by Credit Suisse
and GMAC Commercial Mortgage Bank Europe PLC.
  
At the July 2007 IPD, the outstanding pool balance was
GBP147.48 million and seven properties remained in the
portfolio.

                          Ratings List
  
Cornerstone Titan 2005-2 PLC
   GBP398.78 Million Commercial Mortgage-Backed Floating-Rate
   Notes
  
      Class                     Rating
                      To                        From

Ratings Removed From CreditWatch With Positive Implications And
Raised
  
      D               AAA                     AA/Watch Pos
      E               AA                     BBB/Watch Pos
      F               A                      BBB/Watch Pos
  
Ratings Affirmed
  
      A               AAA
      X               AAA
      B               AAA
      C               AAA
      G               BB


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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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


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

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

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

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

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

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

                     About DURA Automotive

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

The 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.

The Debtors' exclusive plan-filing period expires on
Sept. 30, 2007.  (Dura Automotive Bankruptcy News, Issue No. 26
Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or215/945-7000).


DURA AUTOMOTIVE: Closes US$160.2 Mln Sale of Atwood Mobile Unit
---------------------------------------------------------------
DURA Automotive Systems, Inc. has completed the sale of its
Atwood Mobile Products division to Insight Equity I L.P for
US$160.2 million.  Insight made the acquisition through Atwood
Mobile Products LLC (f/k/a Atwood Acquisition Co., LLC), the
investment vehicle Insight created for the acquisition of
Atwood, the nation's leading independent manufacturer of gas
appliances, windows, doors, electronics and hardware to the
Recreation Vehicle (RV) industry.

"We are excited to add Atwood Mobile Products to the Insight
portfolio.  Our vision for the future is to continue to build
the company into the industry's leading manufacturer of RV
components," Ted Beneski, managing partner and CEO of Insight,
said.

With approximately US$330 million in 2006 sales, Atwood Mobile
Products designs and manufactures furnaces, water heaters,
ranges, hardware, windows and doors, and electronics for use in
RVs, manufactured homes, specialty trailers, and other vehicles.
Headquartered in Elkhart, IN, Atwood serves hundreds of
customers through nine plants located in Tennessee, Utah, Ohio,
Iowa and Indiana.

Atwood provides the most extensive product line of any supplier
to the recreation vehicle industry.   More than 90% of the
recreation vehicles on the road today use Atwood products.  The
RV industry has experienced strong growth historically, with RV
ownership currently at record levels.  Industry trends point
toward significant future growth as well due to favorable
population demographics and increasing interest in RV's.

"Atwood is a profitable business poised for growth with
Insight," Larry Denton, chairman and chief executive officer of
DURA, said.  "This divestiture allows DURA to focus on its core
automotive parts business while we position DURA for long-term
success and emergence from Chapter 11 this year."

Insight Principal Conner Searcy noted, "While the financing
markets were as difficult as I have ever seen them, Insight
delivered on its original commitment to purchase Atwood for
US$160.2 million through Dura's 363 bankruptcy sale process.  
This is a testament to Insight's ability to get difficult
transactions done while other buyout firms are pulling back from
the market and walking away from deals."

For the operationally focused private equity firm, Eliot Kerlin,
a vice president with Insight, observed, "Atwood is a classic
Insight acquisition -- strong strategic positioning and a well-
known platform in its industry, yet with significant operational
and growth opportunities ahead.  We are excited to partner with
the Company's employees as we begin a 'new day' at Atwood."

Atwood is the eighth acquisition in Insight's current fund,
which closed in July 2005.  Atwood also represents the 4th
investment Insight has made during the last eleven months in
domestic transportation manufacturing companies.

DURA was advised by Miller Buckfire, AlixPartners and Kirkland &
Ellis in connection with this transaction.  Insight Equity was
represented by Hunton & Williams.

                     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 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.

The Debtors' exclusive plan-filing period expires on
Sept. 30, 2007.  (Dura Automotive Bankruptcy News, Issue No. 26
Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or215/945-7000).


EMI GROUP: Prices EUR425 Million Cash Tender Offer
--------------------------------------------------
EMI Group Plc disclosed the pricing of its cash tender offer and
consent solicitation for its outstanding EUR425 million 8.625%
senior notes due 2013.

At the consent payment deadline, offers to sell for
EUR396,512,000 principal amount, or 93% of notes outstanding
were validly tendered into the offer.

As of Sept. 4, 2007, the offer was priced as:

                                                 Tender Offer
                 Reference      Fixed Spread     Yield
Security      Security       (in basis        (on semi-annual                
Description      Yield          points)          basis)
-----------      ---------      ------------     ---------------             
                                      
8.625% Senior    4.092%          50              4.540%
Notes due
2013                                                                         
     
                                  Consent       Total
                                  Payment       Consideration
                Purchase Price    (per EUR1,000 (per EUR1,000
Security     (per EUR1,000     principal     principal
Description     principal amount) amount)       amount)
-----------     ----------------- ------------- -------------                
                                   
8.625% Senior   EUR1,054.52       EUR30         EUR1,084.52
Notes due
2013

Holders who tendered their Notes before the consent payment
deadline on Aug. 31, 2007, will receive the total consideration
on the early payment date, which is expected to be on
Sept. 7, 2007.

Holders tendering their notes after the consent payment deadline
but prior to the final acceptance time, which is expected to be
on Sept. 18, 2007, will be eligible to receive the purchase
price on the final payment date on Sept. 21, 2007.

Additionally, holders whose notes are purchased pursuant to the
offer will receive any accrued but unpaid interest up to but not
including the relevant payment date for the notes.

The completion of the offer is subject to the satisfaction or
waiver of certain conditions.  The offer may be amended,
extended or, under certain conditions, terminated.

The offer will expire at Sept. 18, 2007, unless extended or
earlier terminated.  Final settlement is expected to be on
Sept. 21, 2007.

                         About EMI

Headquartered in London, United Kingdom, EMI Group PLC --
http://www.emigroup.com/-- is the world's largest independent  
music company, operating directly in 50 countries and with
licensees in a further 20.  The group has operations in Brazil,
China, and Hungary.  The group employs over 6,600 people.
Revenues in 2005 were near EUR2 billion and operating profit
generated was over EUR225 million.

At March 31, 2006, EMI Group's consolidated balance sheet
revealed GBP1.817 billion in total assets, GBP2.544 billion in
total liabilities and GBP726.6 million in shareholders' deficit.

The company issued two profit warnings since January 2007.

                        *     *     *

As reported in the TCR-Europe on Aug. 6, 2007, Moody's Investors
Service downgraded EMI Group plc's corporate family and senior
debt ratings to B1 (from Ba3).  All ratings remain under review
for downgrade.

Ratings downgraded to B1 (under review for further downgrade)
are:

EMI Group plc

   -- CFR and the ratings of the 8.25% GBP bonds due 2008 and
      the 8.625% Euro notes due 2013

Capitol Records Inc. (gtd. by EMI Group plc)

   -- the rating of the 8.375% guaranteed notes due 2009.

All ratings remain under review for possible downgrade.  Maltby
has not yet signaled whether any of the rated instruments are
expected to form part of EMI's capital structure to the extent
they remain outstanding under their terms.

Moody's ongoing review will now be focused on :

   (i) the new entity's capital structure and financial policies

  (ii) the relative position of the rated instruments within the
       new capital structure and their relative ranking amongst
       each other and relative to other classes of debt (to the
       extent they remain outstanding) and

(iii) the outlook for the global music markets and the
       company's operational plans.

In February 2007, Standard & Poor's Ratings Services lowered its
long-term corporate credit and senior unsecured debt ratings on
U.K.-based music group EMI Group PLC to 'BB-' from 'BB'.  The
'B' short-term rating was affirmed.

At the same time, the long-term corporate credit rating and debt
ratings were put on CreditWatch with negative implications.


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

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

Ford, Lincoln and Mercury's all-new and redesigned crossover
utility sales were up 82 percent in August and up 48 percent
year-to-date – the largest increase of any major manufacturer.
  
"We are encouraged by consumers' response to our new products,"
said Mark Fields, Ford's president of the Americas.  "Demand for
our new crossovers continues to grow despite challenging
economic conditions."

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

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

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

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

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

                    North American Production

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

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

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

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

                          *     *     *

As reported in the Troubled Company Reporter on July 30, 2007,
Moody's Investors Service said that the performance of Ford
Motor Company's global automotive operations for the second
quarter of 2007 was significantly stronger than the previous
year and better than street expectations.

However, Moody's explained that the company continues to face
significant competitive and financial challenges, and the rating
agency expects that Ford's credit metrics and rate of cash
consumption will likely remain consistent with no higher than a
B3 corporate family rating level into 2008.

According to the rating agency, Ford's corporate family rating
is currently a B3 with a negative outlook.  The rating is
pressured by the shift in consumer preference from high margin
trucks and SUVs, and by the need for a new 2007 UAW contract
that provides meaningful relief from high health care costs and
burdensome work rules, Moody's relates.

In June 2007, S&P raised the Issue Rating on Ford's senior
secured credit facilities to B+ from B.


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

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

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

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

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

                          *     *     *

As reported in the Troubled Company Reporter on July 30, 2007,
Moody's Investors Service said that the performance of Ford
Motor Company's global automotive operations for the second
quarter of 2007 was significantly stronger than the previous
year and better than street expectations.

However, Moody's explained that the company continues to face
significant competitive and financial challenges, and the rating
agency expects that Ford's credit metrics and rate of cash
consumption will likely remain consistent with no higher than a
B3 corporate family rating level into 2008.

According to the rating agency, Ford's corporate family rating
is currently a B3 with a negative outlook.  The rating is
pressured by the shift in consumer preference from high margin
trucks and SUVs, and by the need for a new 2007 UAW contract
that provides meaningful relief from high health care costs and
burdensome work rules, Moody's relates.

In June 2007, S&P raised the Issue Rating on Ford's senior
secured credit facilities to B+ from B.


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

The new ABF suppliers are:

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

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

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

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

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

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

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

                      About Ford Motor Co.

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

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

                        *     *     *

As reported in the TCR-Europe on July 31, 2007, Moody's
Investors Service said that the performance of Ford Motor
Company's global automotive operations for the second quarter of
2007 was significantly stronger than the previous year and
better than street expectations.

However, Moody's explained that the company continues to face
significant competitive and financial challenges, and the rating
agency expects that Ford's credit metrics and rate of cash
consumption will likely remain consistent with no higher than a
B3 corporate family rating level into 2008.

According to the rating agency, Ford's corporate family rating
is currently a B3 with a negative outlook.  The rating is
pressured by the shift in consumer preference from high margin
trucks and SUVs, and by the need for a new 2007 UAW contract
that provides meaningful relief from high health care costs and
burdensome work rules, Moody's relates.


FORD MOTOR: UAW Open to Health Care Trust Fund; Seeks Pact
----------------------------------------------------------
The United Auto Workers union is amenable to creating a trust
fund for retiree health-care benefits as long as all of the
parties involved can reach an agreement on funding terms, The
Detroit News relates.

UAW leaders understand that transferring tens of billions of
dollars in liability from the books of Detroit's “Big Three”
automakers -- General Motors Corp., Ford Motor Co., and Chrysler
LLC -- to trust funds controlled by them could work, Bryce G.
Hoffman writes for The Detroit News, quoting sources close to
the contract negotiations.

According to the report, executives of the three companies
believe that paying the United Auto Workers to assume
responsibility for retiree health benefits is the best way to
make their companies cost-competitive again.  However, the
automakers' plan to fund part of their workers' benefits with
company stock could make it quite difficult for union members to
accept the offer.

Patterned after similar deals at Goodyear Tire & Rubber Co. and
Dana Corp., the three car makers want to pay the union to
establish what are called voluntary employee beneficiary
associations, or VEBAs, that would assume responsibility for
hourly retiree health benefits.  They had proposed VEBAs in
their initial economic offers to the UAW, Mr. Hoffman of The
Detroit News states.

A VEBA would cost each automaker billions -- as much as US$35
billion in GM's case -- but it would permanently remove billions
more in liabilities from their balance sheets.  It also
guarantees the union's right to protect those benefits should
any of the automakers file for bankruptcy, The Detroit News
reveals.

Meanwhile, the UAW's top negotiator on its General Motors Corp.
bargaining team vowed that retirees won't have to pay more for
their health care in the next national contract, Louis Aguilar
writes for The Detroit News.

"I can tell you one thing, we are determined not to put any more
costs on retirees for their health care," said UAW Vice
President Cal Rapson.

The TCR-Europe reported on June 14, 2007, that the car companies
are trying to deal with health care costs that GM CEO Rick
Wagoner says cost them a combined US$12 billion in 2006.
Providing health care to 2 million employees, retirees and
dependents contributed to losses at each of the U.S. automakers
last year, while Japanese rivals posted record profits.  The
difference is made even more significant by higher pensions and
retiree health care costs.

GM and Ford hourly labor costs -- US$73.26 and US$70.51,
respectively -- are about US$30 an hour higher than those paid
by Japanese competitors operating U.S. plants.  The UAW's
current four-year contract with the "Big Three" automakers
expires September 14, 2007.

                      About Ford Motor Co.

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

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

                        *     *     *

As reported in the TCR-Europe on July 31, 2007, Moody's
Investors Service said that the performance of Ford Motor
Company's global automotive operations for the second quarter of
2007 was significantly stronger than the previous year and
better than street expectations.

However, Moody's explained that the company continues to face
significant competitive and financial challenges, and the rating
agency expects that Ford's credit metrics and rate of cash
consumption will likely remain consistent with no higher than a
B3 corporate family rating level into 2008.

According to the rating agency, Ford's corporate family rating
is currently a B3 with a negative outlook.  The rating is
pressured by the shift in consumer preference from high margin
trucks and SUVs, and by the need for a new 2007 UAW contract
that provides meaningful relief from high health care costs and
burdensome work rules, Moody's relates.


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

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

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

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

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

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

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

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

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

                          *     *     *

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

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


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

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

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

Sales Highlights for August

  -- GM's all-new family of crossover vehicles continue to
     perform well with the GMC Acadia, Buick Enclave and Saturn
     Outlook driving a 69.8% increase in mid-utility sales.
  
  -- GM's broad selection of small, fuel efficient cars were up
     a combined 10%

  -- GM's Pontiac Division posted strong gains, up 19.5%, driven
     by double digit increases for the G5, G6, Grand Prix and
     Solstice.
    
  -- Chevrolet Silverado and GMC Sierra 1500 series crew cabs
     posted a combined increase of 54.2%, driven by strong
     demand in Western Canada.

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

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

                          *     *     *

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

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


GENERAL MOTORS: Inks MOU with Isuzu for Commercial Vehicles Deal
----------------------------------------------------------------
General Motors Corp. and Isuzu Motors Limited have signed a
memorandum of understanding to reinforce their strategic
partnership and expand the sales of commercial vehicles in three
South American countries in the Andean region.

The agreement includes a full-scale feasibility study to assess
the establishment of a joint venture that will specialize in the
sales of Isuzu commercial vehicles badged as Chevrolet in
Colombia, Venezuela and Ecuador.

"GM and Isuzu have a long-standing commercial relationship and,
over the years, we have steadily increased sales and market
share of Isuzu commercial vehicles built by GM's manufacturing
operations in South America under the Chevrolet brand and
distribution channel.  Given the expected growth in this region,
we are very pleased to expand our relationship with Isuzu," said
Pablo Ross, president and managing director of GM's Andean
Region.

In 2006, GM sold 14,580 Isuzu trucks, capturing 24.7% of the
Andean commercial vehicle market that has more than doubled
since 2003.  GM and Isuzu plan to significantly increase sales
and market share of commercial vehicles in the region by
reinforcing sales functions and launching the new Isuzu N-series
and F-series trucks.

"The MOU and our agreement this time is in line with Isuzu's
efforts addressed in the mid-term business plan to expand
commercial vehicles sales in overseas markets.  Our reinforced
collaboration with GM will enable us to set a solid foundation
to aggressively promote the sales expansion and market share
increase of Isuzu's new N-series and F-series trucks," said
Yoshifumi Komura, executive officer in charge of International
Sales of Isuzu Motors Limited.

The feasibility study is expected to be completed by the end of
2007.

                       About Isuzu Motors

Headquartered in Tokyo, Japan, Isuzu Motors Limited --
http://www.isuzu.co.jp/-- is engaged in the manufacture and   
sale of automobile, automobile parts, as well as industrial
engines.  The company carries products such as light commercial
vehicles (LCVs) and commercial vehicles, which include large-
size trucks and buses, small-size trucks and pickup trucks,
among others.  It also manufactures and sells engines and
components.  Through its subsidiaries, the company is also
engaged in the provision of logistics services and other
services.  The company has offices in Japan, the United States,
Mexico, Belgium, and Thailand, among others.

                      About General Motors

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

                         *     *     *

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

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


GENERAL MOTORS: UAW Open to Health Care Trust Fund; Seeks Pact
--------------------------------------------------------------
The United Auto Workers union is amenable to creating a trust
fund for retiree health-care benefits as long as all of the
parties involved can reach an agreement on funding terms, The
Detroit News relates.

UAW leaders understand that transferring tens of billions of
dollars in liability from the books of Detroit's “Big Three”
automakers -- General Motors Corp., Ford Motor Co., and Chrysler
LLC -- to trust funds controlled by them could work, Bryce G.
Hoffman writes for The Detroit News, quoting sources close to
the contract negotiations.

According to the report, executives of the three companies
believe that paying the United Auto Workers to assume
responsibility for retiree health benefits is the best way to
make their companies cost-competitive again.  However, the
automakers' plan to fund part of their workers' benefits with
company stock could make it quite difficult for union members to
accept the offer.

Patterned after similar deals at Goodyear Tire & Rubber Co. and
Dana Corp., the three car makers want to pay the union to
establish what are called voluntary employee beneficiary
associations, or VEBAs, that would assume responsibility for
hourly retiree health benefits.  They had proposed VEBAs in
their initial economic offers to the UAW, Mr. Hoffman of The
Detroit News states.

A VEBA would cost each automaker billions -- as much as US$35
billion in GM's case -- but it would permanently remove billions
more in liabilities from their balance sheets.  It also
guarantees the union's right to protect those benefits should
any of the automakers file for bankruptcy, The Detroit News
reveals.

Meanwhile, the UAW's top negotiator on its General Motors Corp.
bargaining team vowed that retirees won't have to pay more for
their health care in the next national contract, Louis Aguilar
writes for The Detroit News.

"I can tell you one thing, we are determined not to put any more
costs on retirees for their health care," said UAW Vice
President Cal Rapson.

The TCR-Europe reported on June 14, 2007, that the car companies
are trying to deal with health care costs that GM CEO Rick
Wagoner says cost them a combined US$12 billion in 2006.
Providing health care to 2 million employees, retirees and
dependents contributed to losses at each of the U.S. automakers
last year, while Japanese rivals posted record profits.  The
difference is made even more significant by higher pensions and
retiree health care costs.

GM and Ford hourly labor costs -- US$73.26 and US$70.51,
respectively -- are about US$30 an hour higher than those paid
by Japanese competitors operating U.S. plants.  The UAW's
current four-year contract with the "Big Three" automakers
expires September 14, 2007.

                      About General Motors

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

                         *     *     *

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

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


GENERAL MOTORS: Crossover Units Lure Drivers From Asian Vehicles
----------------------------------------------------------------
General Motors Corp., which is struggling to stem losses and
increase lagging U.S. sales, has found a bright spot in the
three large crossover vehicles it launched in the past year,
namely Buick Enclave, GMC Acadia and Saturn Outlook, Neal  
Boudette writes for the Wall Street Journal.

The units, which are all top-sellers, have achieved what other
Detroit vehicles are having a tough time doing -- enticing
drivers away from imported brands, particulary Asian-brand cars.  
Due to the trio's brisk sales, a GM plant in Lansing, Michigan,
is now running at full capacity, Mr. Boudette of WSJ states.

According to the report, the trio each has three rows of seats
and looks like big sport-utility vehicles, but they are lighter,
have a smoother ride and get better gas mileage than SUVs.

GM, Ford Motor Co. and Chrysler LLC remain the dominant
manufacturers of trucks, but they are all experiencing a
continuing slump in pickup and SUV sales in the wake of high
gasoline prices and changing consumer tastes, WSJ relates.  The
three auto makers are each undergoing restructuring efforts to
turn around their North American operations and stem their
decades-long slide in market share.

GM doesn't disclose its vehicles’ profit margins, but other
measures indicate the three crossovers are performing well
financially, such as the recent addition of a third shift at the
Michigan plant producing the vehicles, at a time when GM is
trimming production of its full-size SUVs and pickup trucks, Mr.
Boudette writes for WSJ.

Concurrently, a Chevrolet version is in the works, and could
skim buyers from the Buick, GMC and Saturn models.  The Chevy
model will be built in a separate plant in Spring Hill,
Tennessee, the report says.

                      About General Motors

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.


GEORGICA PLC: S&P Withdraws Junk Ratings at Company's Request
-------------------------------------------------------------
Standard & Poor's Ratings Services had withdrawn its 'CCC+'
corporate credit rating on U.K.-based leisure company Georgica
PLC at the company's request following completion of a
restructuring last week.

At the same time the 'CCC' credit rating on Georgica's Ł60
million senior secured floating rate notes due 2012 was also
withdrawn.

The notes were redeemed early and in full on Aug. 28, 2007, when
the company completed the sale of its wholly owned cue-sport
subsidiary Rileys Ltd. and put in place a series of sale-and-
leaseback agreements on 53 freehold properties.

The remaining company comprises a wholly owned tenpin bowling
operation, 10 freehold and long leasehold properties held for
redevelopment or sale, and reported net cash of GBP4 million.


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

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

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

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

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

                      About Mazda Motors

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

                          *     *     *

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

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

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


RANK GROUP: Mulls Sale of GBP700 Mln Pension Fund, Report Says
--------------------------------------------------------------
Rank Group plc could likely sell its GBP700 million pension fund
after it reportedly hired actuarial services group Mercer to
auction the scheme, Julia Finch writes for Guardian Unlimited.

The Daily Telegraph's Sophie Brodie relates that the scheme has
received indications of interest from specialist buyout groups,
including Legal & General, Prudential and Goldman Sachs, after
it decided to fund the pension scheme on a buyout basis six
months ago.

However, a spokesman for the gambling operator denied that an
auction is in progress, noting that employees must be consulted
before a sale process could begin, the Daily Telegraph relates.

"This is a hugely complex area that requires a lot of actuarial
work before a decision can be taken," he was quoted by the Daily
Telegraph as saying.

Headquartered in London, United Kingdom, Rank Group PLC --
http://www.rank.com/-- is an international leisure and  
entertainment company.  The Group provides services to the film
industry, including film processing, video duplication and
cinema exhibition.  The Group's leisure and entertainment
activities entail gambling services, encompassing Mecca Bingo
Clubs and Grosvenor Casinos, and owned and franchises Hard Rock
cafes.

                            *   *   *

As reported in the TCR-Europe on April 24, 2007, Moody's
Investors Service downgraded to B2 (from Ba3) the debt ratings
of the US$100-million guaranteed notes due 2008 and US$14.3-
million guaranteed notes due 2018 at Rank Group Finance Plc.

According to the Loss Given Default methodology, Moody's has
also assigned:

   -- a probability of default rating of Ba3 to the corporate
      family; and

   -- an LGD assessment of LGD5 and an LGD rate of 84% to the
      2008 and 2018 notes.

The Ba3 corporate family rating and Negative outlook are not
affected.

Affected ratings are as follows:

   -- A probability of default rating of Ba3 has been assigned
      to Rank.

   -- The rating on the US$100 million Guaranteed notes due
      2008 at Rank Group Finance (guaranteed by Rank) downgraded
      to B2 from Ba3.  An LGD5 and 84% LGD rate has been
      assigned.

   -- The rating on the US$14.3 million Guaranteed notes due
      2018 at Rank Group Finance (guaranteed by Rank) downgraded
      to B2 from Ba3.  An LGD5 and 84% LGD rate has been
      assigned.

At the same time, Standard & Poor's Ratings Services revised its
outlook on U.K.-based gaming company The Rank Group PLC to
negative from stable.  At the same time, the 'BB-' long-term and
'B' short-term corporate credit ratings were affirmed.

In December 2006, Fitch Ratings affirmed The Rank Group Plc's
Issuer Default ratings at B+ with Negative Outlook, senior
unsecured rating at B+ and Short-term rating at B.  The ratings
are simultaneously withdrawn.


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

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

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

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

As part of the DIP Financing:

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

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

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

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

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

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

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

                     About Sea Containers

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

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

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

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

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

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


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

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

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

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

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

Under the Debtors' supervision, 333 Capital will:

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

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

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

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

  (e) enter into confidentiality agreements with interested
      parties;

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

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

  (h) procure indicative offer letters form interested parties;

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

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

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

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

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

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


                      About Sea Containers

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

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

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

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

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

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


US ENERGY: Provides Update on Liquidity; Issues Bankruptcy Call
---------------------------------------------------------------
U.S. Energy Systems, Inc., on June 25, 2007, said that, absent a
refinancing, the raising of additional capital or other
financial restructuring, the company would be unable, as early
as August 2007, to meet operating requirements and certain
contractual obligations as they become due.  In addition, the
company further indicated that it had insufficient funds to make
certain required capital contributions required under the UK
financing arrangements between September and December of 2007.

In a recent filing with the U.S. Securities and Exchange
Commission, the company provided further updates on these
issues.

                              Liquidity

Based upon updated estimates of cash activity, the company will
require additional funding during September 2007 in order to
continue to meet operating and contractual obligations as they
become due.

It is estimated that approximately US$21 million will be
required to provide USEY with sufficient liquidity to fund:

    (i) approximately US$8.2 million in capital contributions
        required to be made by USEY under the UK financing
        arrangements,

   (ii) US$2.8 million in working capital required for USEY to
        continue operations through December 31, 2007 and

  (iii) US$10 million of capital contributions to its UK
        subsidiaries to allow such subsidiaries to continue
        operations through Dec. 31, 2007.

The funding requirements described above do not take into
account approximately US$25 million of restricted cash reserves
in place under the UK financing arrangements.

The company is engaged in discussions with its lenders with
respect to restructuring existing indebtedness, including
receiving access to the restricted cash reserves, and is
exploring funding alternatives, including sales of assets, with
lenders and others.

While a non-binding Letter of Intent for the sale of USEY's
subsidiary U.S. Energy Biogas Corp. has been executed, no
definitive agreements concerning asset sales or other funding
alternatives have been reached, and the discussion of funding
alternatives is in a preliminary stage.  There can be no
assurance that the company can obtain the required funding
within the necessary timeframe or on terms which would be in the
best interests of the company's stakeholders.

The failure to obtain such funds is likely to result in USEY
filing for protection in the U.S. under Chapter 11 of the
Bankruptcy Code and its UK subsidiaries being forced to enter
bankruptcy administration in the UK.

             Capital Program, Operations and Assets

The company, on its June 25, 2007 disclosure said that based on
forecasts provided by third party engineers, the capital
expenditure program for the UK assets on which the UK financing
arrangements were based would significantly exceed the capital
expenditure budget of US$36,000,000 and could exceed that amount
by more than 100%.

The company now believes that the capital requirements with
respect to its original plan to expand the company's UK assets
will exceed the original capital expenditure budget by
significantly more than 100%.  As a result of the inability to
fund these capital requirements, the company's management is in
the process of developing a revised plan for the company's UK
assets in lieu of the originally contemplated plan which was the
basis for the UK financing.

Once the results of the reserve report and 3D seismic program
have been completed and analyzed, which may not be until January
2008, the company's management will be in a position to
formulate an appropriate strategy with respect to its UK assets
and determine the future capital expenditure program needed to
maximize the value of the gas reserves.

There can be no assurance that (i) the company will be able to
make satisfactory arrangements with its lenders or others to
provide the company with sufficient debt restructuring and
liquidity until such an assessment can be made, (ii) the reserve
reports will support a commercially viable alternative business
plan with respect to the company's UK assets, or (iii) the
company's existing lenders or others will provide the additional
funding or capital that any such plan developed by the Company's
management may require.

Through Dec. 31, 2007, the company's capital expenditure program
will need to include sufficient amounts to fund (1) repairs at
one of the UK subsidiaries' gas wells and (2) the 3D seismic
program.

Generating plant production – Due to a shortfall in the
production of gas resulting from the shutting in of one of UKES'
producing wells, the power plant is producing at approximately
20% below its generating capacity resulting in a reduction in
revenues of approximately US$10,000 per day.  The gas shortfall
is the result of the inability of the well to return to
production after it was shut down for collection system repairs.  
In order to bring the well back into production, a workover of
the well is needed which would cost approximately US$1,000,000,
for which funds are not currently available. There can be no
assurance that the initial workover will be successful and more
expensive procedures may be required to bring the well back to
production.  If funding for the workover can be obtained,
management estimates that it will take from 6 to 8 weeks from
commencement to perform the work.

Reserves – It is anticipated that the company will receive an
updated gas reserve report from its independent engineer within
the next three weeks.  The company says that UK assets contained
approximately 62.4 bcf (P2) of proven and probable reserves.

At present, the company has received no indication whether the
updated gas reserve report will result in any adjustment
(whether upward or downward) of the Proven and Probable
Reserves.  In addition to the updated reserve report, the
company has been engaged in a 3D seismic program, the field work
for which is scheduled to be completed during the last two weeks
of September.  Once the field work is processed and analyzed,
the program will provide the company's management with
additional guidance pertaining to the optimal location of the
additional wells that will be needed to monetize the gas
identified in the reserve reports.

                    Actions Being Taken.

In order to obtain capital and to provide for future operations,
the company is pursuing these options:

The Sale of U.S. Energy Biogas Corp.:

The Company executed a Letter of Intent submitted by Silver
Point Finance, LLC to acquire, in an all-cash acquisition, 100%
of the common stock of U.S. Energy Biogas Corp. for a purchase
price payable to the company equal to US$9.0 million.  In
connection with the Equity Acquisition, Silver Point is also
willing to consider an increase in the amount available under
the Credit and Guaranty Agreement previously entered into
between the Company and Silver Point of up to US$8.0 million of
which US$2.0 million would funded upon the completion of the
Debt Financing and US$6.0 million would be available at the
discretion of Silver Point.  Negotiations are proceeding.

Bank Negotiations:

The company and its expert consultants are currently in
discussions with the company's lenders in an attempt to
restructure and/or expand on current financing arrangements or
enter into new arrangements.  The restrictions, consent rights
and liens on the company's assets under the company's existing
debt instruments, together with the company's highly leveraged
capital structure, significantly limit the Company's ability to
restructure the existing debt financing arrangements and raise
new capital.  One of the company's senior lenders has indicated
a willingness to discuss the extension of additional credit to
the company but there can be no assurance that such additional
financing will be made available or be on terms acceptable to
the company.  The company continues to be in non-monetary
default under the UK financing arrangements and is required to
pay interest at the default rate under the UK financing
arrangements.  This results in an additional monthly interest
payment equal to approximately US$220,000 of which approximately
US$92,000 are rolled up into principal under the terms of the UK
financing arrangements.

Business Planning:

Upon receipt of the reserve report and completion of the seismic
studies referred to above, management will be in a position to
determine the value of the UK assets and whether these assets
can be developed and operated in a profitable manner.  This
determination will be critical to the company's prospects.

Other:

The company has entered into discussions with various entities
seeking to invest in either the UK assets or in the Company
itself.  The company has recently received a letter from an
entity indicating its interest in investing in the company.  As
the letter was just recently received, the company is in the
early stages of the analysis of the offer.  However, the offer
as written would prohibit the sale of U.S. Energy Biogas Corp.
and would involve substantial dilution of existing shareholders.

The company can provide no assurance that it will be able to
obtain the required financing, restructure existing indebtedness
and profitably operate its assets under these or any other
scenarios.  Failure to do so is likely to result in USEY filing
for protection in the U.S. under Chapter 11 of the Bankruptcy
Code as well as its UK subsidiaries being forced to enter
bankruptcy administration in the UK.

                    About U.S. Energy Systems

U.S. Energy Systems, Inc. -- http://www.useyinc.com/-- (Nasdaq:   
USEY) owns of green power and clean energy and resources.  USEY
owns and operates energy projects in the United States and
United Kingdom that generate electricity, thermal energy and gas
production.

The company has a 100% interest in U.S. Energy Biogas Corp.,
which owns and operates 23 landfill gas to energy projects in
the United States, 20 of which produce electricity and three of
which sell landfill gas as an alternative to natural gas.  The
company also has a 100% interest in Plymouth Envirosystems,
Inc., which owns a 50% interest in Plymouth Cogeneration Limited
Partnership.  Plymouth Cogeneration Limited Partnership owns and
operates a combined heat and power plant in Massachusetts that
produces 1.2MWs of electricity and 7 MWs of heat.  The company
further has a 79% interest in GBGH, LLC, which owns energy
assets and mineral rights in the United Kingdom including a 42MW
gas-fired power plant and gas licenses for approximately 100,000
acres of onshore natural gas properties and mineral rights in
North Yorkshire, England.  GBGH is the parent company of UK
Energy Systems, LTD.


VERIFONE HOLDINGS: Promotes William Nichols as VP-Asia Pacific
--------------------------------------------------------------
VeriFone Holdings Inc. has promoted William C. Nichols to senior
vice president, Asia Pacific, where he will be instrumental in
the company's goal of promoting its newest products and
solutions into key markets.

Lazy Yanay, formerly managing director, Asia, has been named
managing director, Business Development.  Both will report
directly to VeriFone Chairman and CEO Douglas G. Bergeron.

Mr. Nichols, formerly vice president, Global Marketing and
Business Development, will be responsible for emerging payments
markets in China, India, North East and Southeast Asia,
Australia and New Zealand.  He will also retain his role as head
of global marketing, with responsibility for product strategy
and global demand generation programs.

"We continue to broaden our product set in all geographies and
make great headway as the industry leader in so many areas,"
said Mr. Bergeron.  "Bill Nichols and Lazy Yanay will be
instrumental in our efforts to accelerate growth in key
markets."

Prior to the acquisition of Lipman in October 2006, Mr. Nichols
served as vice president and general manager of the emerging
market region, comprised of Latin America, the Caribbean and the
Asia Pacific business units.  Prior to that assignment he served
as vice president of international marketing.  He joined
VeriFone in 1995 by opening the VeriFone do Brazil office and
serving as its first general manager.

VeriFone Inc. is headquartered in Santa Clara, California, and
is a global market leader in the development and sale of point-
of-sale electronic payment systems.  The company has operations
in Argentina, Australia, Brazil, China, France, India, Malaysia,
Poland, the United Kingdom, the United States, among others.

                        *     *     *

As reported in the Troubled Company Reporter on Sept. 29, 2006,
Moody's Investors Service has affirmed the Corporate Family
Rating of B1 of VeriFone and revised the rating outlook to
stable from negative.  At the same time, Moody's assigned
ratings to new bank credit facilities that VeriFone will use to
finance its pending acquisition of Lipman Electronic Engineering
Ltd.


WHITESTONE MANAGEMENT: Insolvency Investigation Cues Shutdown
-------------------------------------------------------------
The High Court has wound up Whitestone Management Limited and  
Whitestone Multi Utilities after an insolvency service
investigation revealed that Steven Baber, who had played a key
management role in both companies, was already under an 11-year
disqualification from acting as a director, Reed Business
Information relates.

According to the report, the judge presiding on the case said
Mr. Baber has shown "absolutely disgraceful behavior."  The
errant manager had previously been disqualified from acting as a
director after running Cardiff-based Whitestone Construction to
the ground, causing the firm to accumulate GBP233,000 in debts.

Grabbing the reins from bankrupt firm Whitestone Construction,
Whitestone Management started trading in 2003 but was placed
into administration in 2006, leaving creditors in the lurch with
total debts worth up to GBP590,000, Reed Business Information
states.

               About Whitestone Management Limited

Headquartered in South Glamorgan, United Kingdom, Whitestone
Management Limited specializes in design & build projects,
project management, commercial & industrial building,
private & social housing, facilities management, utilities and
specialist construction activities.


WHOLE FOODS: S&P Lowers Corp. Credit Rating to BB+ from BBB-
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Whole Foods Market Inc. to 'BB+' from 'BBB-'.  At the
same time, S&P removed the ratings from CreditWatch, where they
were placed with negative implications on Feb. 22, 2007.  The
action follows the company's acquisition of Wild Oats Markets
Inc.  The outlook is negative.
     
Austin, Texas-based Whole Foods has entered into a five-year
$700 million senior term loan to finance the acquisition and has
also signed a five-year $250 million revolving credit agreement.   
Following the acquisition, including the subsequent sale of 35
Henry's and Sun Harvest stores to a subsidiary of Smart & Final,
Whole Foods' outstanding lease-adjusted debt balance is expected
to increase significantly.  As a result, S&P expect pro forma
credit metrics to deteriorate significantly and only gradually
recover as the company starts to recognize synergies from the
acquisition.  Lease-adjusted debt to EBITDA for 2008 is
anticipated to be around 4x.
      
"We could consider a lower rating if same-store sales
performance at Whole Foods declines meaningfully, or if the
company experiences material challenges in integrating Wild
Oats," said Standard & Poor's credit analyst Stella Kapur.


* Euler Hermes Taps Richard Barnett as Legal & Secretariat Head
---------------------------------------------------------------
Euler Hermes U.K. Plc, a leader in credit insurance and part of
Allianz, appointed Richard Barnett as head of legal and
secretariat.

Mr. Barnett joined Euler Hermes from insurance and reinsurance
run-off company Riverstone where he was claims and litigation
director.  Before that, he was an insurance lawyer and partner
at Clyde & Co.  Mr. Barnett has worked in the insurance sector
for 17 years.

"I am delighted to have joined EHUK at such an exciting time in
its history.  My immediate aims are to further increase the
efficiency of the legal and policy support departments, to
enhance the quality and accessibility of advice provided to the
operational areas, and to provide strong support to the various
holding and subsidiary boards through the company secretarial
role.  I will also ensure that EHUK retains a leading position
in terms of regulatory compliance, and would like to develop the
knowledge and capabilities of the team through training and
career development," Mr. Barnett disclosed.

He added, "I also hope to play a part in the strategic
development of the business through my place on the Senior
Management Team.  I look forward to the challenge of learning
more about how the organization and the credit insurance market
function, and contributing to the continued success of the
company."


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------
Sept. 6, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Breakfast Event
        Carnelian Room, San Francisco, California
           Contact: 510-346-6000 ext 226 or
                    http://www.turnaround.org/

Sept. 6-7, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Complex Financial Restructuring Program
        Four Seasons, Las Vegas, Nevada
           Contact: http://www.turnaround.org/

Sept. 6-8, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     15th Annual Southwest Bankruptcy Conference
        Four Seasons, Las Vegas, Nevada
              Contact: http://www.abiworld.org/

Sept. 11, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Annual Networking at the Yards
        Oriole Park at Camden Yards, Baltimore, Maryland
           Contact: 215-657-5551 or http://www.turnaround.org/

Sept. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Body of Knowledge - CTP Review Class
        Chicago, Illinois
           Contact: http://www.turnaround.org/

Sept. 18, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     14th Annual Connecticut Children's Medical Center
        Fundraiser Golf Outing
           Woodbridge Country Club, Woodbridge, Connecticut
              Contact: 203-265-2048 or  
                 http://www.turnaround.org/

Sept. 19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Buying and Selling Troubled Companies
        Marriott North, Fort Lauderdale, Florida
           Contact: http://www.turnaround.org/

Sept. 20, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Lean Transformation at Current and Other Case Studies
        Denver Athletic Club, Denver, Colorado
           Contact: http://www.turnaround.org/

Sept. 25, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon - Retail Panel
        Citrus Club, Orlando, Florida
           Contact: http://www.turnaround.org/

Sept. 26, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Joint Educational & Networking Reception
        TBD, New Jersey
           Contact: 908-575-7333 or http://www.turnaround.org/

Sept. 26-27, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Florida Annual Golf Tournament
        Tampa, Florida
           Contact: 561-882-1331 or http://www.turnaround.org/

Sept. 27, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Arizona Chapter Meeting
        TBA, Arizona
           Contact: http://www.turnaround.org/

Sept. 27-30, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     8th Annual Cross Border Business
        Restructuring & Turnaround Conference
           Contact: http://www.turnaround.org/

Oct. 2, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Networking Breakfast
        TBD, Bridgewater, New Jersey
           Contact: 908-575-7333 or http://www.turnaround.org/

Oct. 4, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Breakfast Event
        Carnelian Room, San Francisco, California
           Contact: 510-346-6000 ext 226 or
                    http://www.turnaround.org/

Oct. 5, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/GULC "Views from the Bench"
        Georgetown University Law Center
           Washington, District of Columbia

Oct. 9-10, 2007
  INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING
     CONFEDERATION
        IWIRC Annual Fall Conference
           Orlando, Florida
              Contact: http://www.iwirc.org/

Oct. 10-13, 2007
  NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
     81st Annual National Conference of Bankruptcy Judges
        Contact: http://www.ncbj.org/

Oct. 11, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon
        University Club, Jacksonville, Florida
           Contact: 561-882-1331 or http://www.turnaround.org/

Oct. 11, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Winn Dixie Bankruptcy
        University Club, Jacksonville, Florida
           Contact: 561-882-1331 or http://www.turnaround.org/

Oct. 12, 2007
  INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
     Presentation by George F. Will: The Political Argument
        Today
           Orlando, Florida
              Contact: http://www.ardent-services.com/

Oct. 12, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     ABI Educational Program at NCBJ
        Orlando World Marriott, Orlando, Florida
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 16-19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott Copley Place
           Boston, Massachussets
              Contact: 312-578-6900; http://www.turnaround.org/

Oct. 23, 2007
  BEARD AUDIO CONFERENCES
     Partnerships in Bankruptcy
        Contact: 240-629-3300;
                 http://www.beardaudioconferences.com/

Oct. 25, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Capital Markets Case Study
        Seattle, Washington
           Contact: http://www.turnaround.org/

Oct. 25, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Arizona Chapter Meeting
        Contact: http://www.turnaround.org/

Oct. 26, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     International Insolvency Symposium
        Hotel Adlon Kempinski, Berlin, Germany
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 30, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon
        Centre Club, Tampa, Florida
           Contact: 561-882-1331; http://www.turnaround.org/

Oct. 30, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Crisis Communications With Employees, Vendors and Media
        Centre Club, Tampa, Florida
           Contact: http://www.turnaround.org/

Nov. 1, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Breakfast Event
        Carnelian Room, San Francisco, California
           Contact: 510-346-6000 ext 226 or
                    http://www.turnaround.org/

Nov. 1, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Networking Breakfast
        TBD, Hackensack, New Jersey
           Contact: 908-575-7333; http://www.turnaround.org/

Nov. 12, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     Consumer Bankruptcy Conference
        Marriott, Troy, Michigan
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Holiday Mixer
        McCormick & Schmick's, Las Vegas, Nevada
           Contact: 702-952-2480 or http://www.turnaround.org/

Nov. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Aloha Airlines Story
        Bankers Club, Miami, Florida
           Contact: http://www.turnaround.org/

Nov. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Australia 4th Annual Conference and Gala Dinner
         Hilton, Sydney, Australia
           Contact: http://www.turnaround.org/

Nov. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Dinner
        TBA, South Florida
           Contact: 561-882-1331 or http://www.turnaround.org/

Nov. 15, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Portland Holiday Party
        University Club, Portland, Oregon
           Contact: 206-223-5495; http://www.turnaround.org/

Nov. 22, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Networking Mixer
        TBA, Vancouver, British Columbia
           Contact: 206-223-5495; http://www.turnaround.org/

Nov. 27, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon - Real Estate Panel
        Citrus Club, Orlando, Florida
           Contact: http://www.turnaround.org/

Nov. 29, 2007
  INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
     Holiday Gala
        Yale Club, New York, New York
           Contact: http://www.iwirc.org/

Nov. 29, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Special Speaker
        TBD, New Jersey
           Contact: 908-575-7333; http://www.turnaround.org/

Nov. 29, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Special Speaker
        Hilton, Sydney, Australia
           Contact: http://www.turnaround.org/

Nov. 29, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Arizona Chapter Meeting
        Contact: http://www.turnaround.org/

Dec. 6, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Seattle Holiday Party
        Athletic Club, Seattle, Washington
           Contact: 206-223-5495; http://www.turnaround.org/

Dec. 6-8, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        Westin Mission Hills Resort, Rancho Mirage, California
           Contact: 1-703-739-0800; http://www.abiworld.org/

Dec. 13, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Holiday Extravaganza - TMA & CFA
        Georgia Aquarium, Atlanta, Georgia
           Contact: 678-795-8103 or http://www.turnaround.org/

Dec. 13, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Holiday Extravaganza - TMA & CFA
        Georgia Aquarium, Atlanta, Georgia
           Contact: 678-795-8103 or http://www.turnaround.org/

Dec. 19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     South Florida Dinner
        TBA, South Florida
           Contact: 561-882-1331; http://www.turnaround.org/

Jan. 10, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon
        University Club, Jacksonville, Florida

Feb. 7, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     Breakfast Event
        Carnelian Room, San Francisco, California
           Contact: 510-346-6000 ext 226 or
                    http://www.turnaround.org/

Mar. 25-29, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        Ritz Carlton Grande Lakes, Orlando, Florida
           Contact: http://www.turnaround.org/

Apr. 3-6, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     26th Annual Spring Meeting
        The Renaissance, Washington, District of Columbia
           Contact: http://www.abiworld.org/

Apr. 25-27, 2008
  NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
     NABT Spring Seminar
        Eldorado Hotel & Spa, Santa Fe, New Mexico
           Contact: http://www.nabt.com/

May 1-2, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     Debt Symposium
        Hilton Garden Inn, Champagne/Urbana, Illinois
           Contact: 1-703-739-0800; http://www.abiworld.org/

June 4-7, 2008
  ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
     24th Annual Bankruptcy & Restructuring Conference
        J.W. Marriott Spa and Resort, Las Vegas, Nevada
           Contact: http://www.airacira.org/

June 12-14, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     15th Annual Central States Bankruptcy Workshop
        Grand Traverse Resort and Spa, Traverse City, Michigan
           Contact: http://www.abiworld.org/

July 10-13, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     16th Annual Northeast Bankruptcy Conference
        Ocean Edge Resort
           Brewster, Massachussets
              Contact: http://www.turnaround.org/

July 31 - Aug. 2, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     4th Annual Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay
           Cambridge, Maryland
              Contact: http://www.abiworld.org/

Aug. 16-19, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     13th Annual Southeast Bankruptcy Workshop
        Ritz-Carlton, Amelia Island, Florida
           Contact: http://www.abiworld.org/

Aug. 20-24, 2008
  NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
     NABT Convention
        Captain Cook, Anchorage, Alaska
           Contact: http://www.nabt.com/

Sept. 24-27, 2008
  NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
     National Conference of Bankruptcy Judges
        Scottsdale, Arizona
           Contact: http://www.ncbj.org/

Oct. 28-31, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott New Orleans, Louisiana
           Contact: 312-578-6900; http://www.turnaround.org/

Dec. 3-5, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     20th Annual Winter Leadership Conference
        Westin La Paloma Resort & Spa
           Tucson, Arizona
              Contact: http://www.abiworld.org/

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

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

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

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

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

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

BEARD AUDIO CONFERENCES
  2006 BACPA Library  
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com;
              http://researcharchives.com/t/s?20fa

BEARD AUDIO CONFERENCES
  BAPCPA One Year On: Lessons Learned and Outlook
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Calpine's Chapter 11 Filing
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Changes to Cross-Border Insolvencies
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Changing Roles & Responsibilities of Creditors' Committees
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Clash of the Titans -- Bankruptcy vs. IP Rights
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Coming Changes in Small Business Bankruptcy
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Dana's Chapter 11 Filing
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Deepening Insolvency – Widening Controversy: Current Risks,
     Latest Decisions
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Diagnosing Problems in Troubled Companies
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Distressed Claims Trading
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Distressed Market Opportunities
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Distressed Real Estate under BAPCPA
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Employee Benefits and Executive Compensation under the New
     Code
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Equitable Subordination and Recharacterization
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Fundamentals of Corporate Bankruptcy and Restructuring
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Handling Complex Chapter 11
     Restructuring Issues  
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Healthcare Bankruptcy Reforms
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  High-Yield Opportunities in Distressed Investing
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Homestead Exemptions under BAPCPA
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Hospitals in Crisis: The Insolvency Crisis Plaguing
     Hospitals Across the U.S.
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  IP Rights In Bankruptcy
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  KERPs and Bonuses under BAPCPA
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Partnerships in Bankruptcy: Unwinding The Deal
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Privacy Rights, Protections & Pitfalls in Bankruptcy
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Real Estate Bankruptcy
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Reverse Mergers—the New IPO?
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Second Lien Financings and Intercreditor Agreements
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Surviving the Digital Deluge: Best Practices in E-Discovery
     and Records Management for Bankruptcy Practitioners
        and Litigators
           Audio Conference Recording
              Contact: 240-629-3300;
                 http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Technology as a Competitive Advantage For Today's Legal
     Processes
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Twenty-Day Claims  
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Validating Distressed Security Portfolios: Year-End Price
     Validation and Risk Assessment
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  When Tenants File -- A Landlord's BAPCPA Survival Guide
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday. Submissions via e-mail
to conferences@bankrupt.com are encouraged.


                            *********

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 * * *