T R O U B L E D C O M P A N Y R E P O R T E R
E U R O P E
Monday, October 8, 2007, Vol. 8, No. 198
Headlines
A U S T R I A
BLITS LLC: Vienna Court Orders Business Shutdown
D & H LLC: Claims Registration Period Ends Oct. 25
EROTIC ENTERPRISES: Claims Registration Period Ends Oct. 30
FLOORTEC LLC: Claims Registration Period Ends Oct. 30
INOCARE MEDIZINTECHNIK: Claims Registration Period Ends Oct. 30
PESACO LLC: Claims Registration Period Ends Oct. 30
QUELLEN MALER: Claims Registration Period Ends Oct. 30
B E L G I U M
FEDERAL-MOGUL: Posts Net Loss of US$10.4 Million in August 2007
F R A N C E
DELPHI CORP: Posts US$100 Mln Net Loss in Month Ended August 31
EMT 25: Enters Into Receivership Procedure
EUROTUNNEL GROUP: To Launch Reverse Stock Split for GET Shares
EXIDE TECHNOLOGIES: US$91.7 Million Rights Offering Expires
KAUFMAN & BROAD: Earns EUR70.3 Million in 9-Month Ended Aug. 31
SOLECTRON CORP: Agent Discloses Final Result of Exchange
G E R M A N Y
AD2MEDIA GMBH: Claims Registration Ends Nov. 6
ALLTAX STEUERBERATUNGSGESELLSCHAFT: Creditors' Claim Due Nov. 14
CHRYSLER LLC: Intends to Close Assembly Plant in Illinois
DIALOG GMBH: Claims Registration Ends November 13
FIRSTCLASS SPORT: Claims Registration Ends November 13
FLAIR POLSTERMOEBELVERTRIEB: Claims Registration Ends Oct. 26
FM MOEBEL: Claims Registration Period Ends Oct. 23
G & Z FACILITY: Claims Registration Period Ends Oct. 23
INGENIEURBUERO FUER TRAGWERKSPLANUNG: Claims Bar Date on Oct. 25
LIESER & CO: Claims Registration Ends Nov. 9
MALERWERKSTATTEN PITTURA: Creditors Must File Claims by Nov. 13
MCFLIGHT FLUGVERMITTLUNG: Claims Registration Ends Nov. 12
MEDICAL VITA: Claims Registration Period Ends Oct. 30
NORMBAU VERWALTUNG: Claims Registration Period Ends Oct. 23
RAPID BAU: Claims Registration Ends Nov. 11
RHEIN-RUHR-POLSTER GMBH: Claims Registration Period Ends Oct. 15
SANGER & MASSIERER: Claims Registration Ends November 12
SENSORVISION DIGITAL: Claims Registration Ends November 12
SHABANI PUTZ: Claims Registration Period Ends Oct. 25
SPECTRUM BRANDS: Names Anthony Genito as Chief Financial Officer
SPECTRUM BRANDS: Amy Yoder Assumes Role as United President
ZWEITE VENTUS: Creditors Must File Claims by November 13
H U N G A R Y
ARVINMERITOR INC: Amends Diluted Earnings Per Share Forecast
I T A L Y
PARMALAT SPA: Increases Share Capital by EUR43,148
K A Z A K H S T A N
ADP COMPANY: Proof of Claim Deadline Slated for Nov. 9
ASTAN PLUS: Creditors Must File Claims Nov. 14
BANK TURANALEM: Wins Auction for 25% Stake in NJSIC Oranta
CROCUS TRAVEL: Claims Filing Period Ends Nov. 9
KAZAKHSTAN ELECTRICITY: S&P Puts BB+ Ratings on Watch
KAZKOMMERTS INT'L: Moody's May Cut B1 Debt Rating After Review
MADANA-GOPALA LLP: Creditors' Claims Due on Nov. 14
NC KAZMUNAYGAS: S&P Watches Ratings Until Sovereign Review
RENKO SPA: Claims Registration Ends Nov. 9
STA COMPANY: Proof of Claim Deadline Slated for Nov. 9
TEMIR ZHOLY: S&P Watches Ratings Pending Sovereign Review
UDS-2 LLP: Creditors Must File Claims Nov. 9
UG-KVANT LLP: Claims Filing Period Ends Nov. 9
UJTRANSSERVICE LLP: Creditors' Claims Due on Nov. 9
K Y R G Y Z S T A N
BATKEN NEFT: Proof of Claim Deadline Slated for November 9
VORTEX LLC: Creditors Must File Claims by November 7
N E T H E R L A N D S
ARENA 2000-1: Fitch Rates Class D Notes at 'BB+'; Outlook Stable
BAUSCH & LOMB: Receives Tenders & Consents for Debt Securities
BAUSCH & LOMB: S&P Cuts Ratings to B+ on Merger Possibility
KONINKLIJKE AHOLD: Settles Case Filed Against Former Executives
STICHTING MEMPHIS 2005-I: Fitch Affirms Class F Notes at BB
STICHTING MEMPHIS 2006-I: Fitch Affirms Class G Notes at B
P O L A N D
PRA INTERNATIONAL: S&P Assigns B Corporate Credit Rating
BEARINGPOINT INC: Bags US$57.9-Mil. Deal for IT Support Services
R U S S I A
BAKSANSKIJ LLC: Creditors Must File Claims by Nov. 22
CHELNO-VERSHINSKIJ: Creditors Must File Claims by Nov. 22
EAST-URAL-OIL CJSC: Creditors Must File Claims by Nov. 22
HEATING SYSTEM: Creditors Must File Claims by Oct. 22
KRYLOVSKIJ FEED PLANT OJSC: Bidding Deadline Slated for Oct. 19
MDM BANK: IFC Completes US$184 Million Stake Acquisition
ROSSIYSKIY KREDIT: Moody's Assigns Caa1/NP/E/Ba2.ru Ratings
RZHAKSAAGROPROMSNAB OJSC: Creditors Must File Claims by Oct. 22
USEC INC: Inks Pact with Lenders to Sell 20 Million Shares
VERHOVSKIJ CONCENTRATED: Bidding Deadline Slated for October 22
VORONEZHSKIJ OJSC: Court Starts External Bankruptcy Procedure
YOUR HOUSE LLC: Creditors Must File Claims by Oct. 22
ZARYA OJSC: Bidding Deadline Slated for October 24
S P A I N
GENERAL CABLE: Amends Credit Agreement to Issue Additional Notes
S W E D E N
AVNET INC: Inks US$600 Five-Year Senior Unsec. Credit Facility
FLEXTRONICS INT'L: Agent Discloses Final Results of Exchange
FLEXTRONICS INT'L: Solectron Global to Redeem 8% Senior Notes
S W I T Z E R L A N D
ARIESCH JSC: Graubunden Court Closes Bankruptcy Proceedings
DR. RIGHTMANN: Creditors' Liquidation Claims Due October 15
ENGELER JSC: Creditors' Liquidation Claims Due October 15
FROHSINN LLC: Zug Court Closes Bankruptcy Proceedings
KSC SEMINARHOTEL: Creditors' Liquidation Claims Due October 15
PETROPLUS SCHIFFFAHRT: Creditors' Liquidation Claims Due Oct. 12
ROLAN PFAFFIKON: Creditors' Liquidation Claims Due October 15
SCHRIFTART LLC: Bern Court Starts Bankruptcy Proceedings
SIOPLAST MANAGEMENT: Zug Court Starts Bankruptcy Proceedings
SOCIETE IMMOBILIERE: Creditors' Liquidation Claims Due Oct. 15
U K R A I N E
BULGANAKSKY STONE-WORKING: Creditors Must File Claims by Oct. 9
FIRST NATIONAL: Proofs of Claim Deadline Set October 9
KHARTRON-ALFA LLC: Creditors Must File Claims by October 9
LIGA-D OJSC: Proofs of Claim Deadline Set October 9
LISICHANSK COAL: Creditors Must File Claims by October 9
PEASANT ENERGY: Creditors Must File Claims by October 9
SHULIAKI-AGRO LLC: Creditors Must File Claims by October 9
SUGAR-INVEST LLC: Creditors Must File Claims by October 9
TCHUBUKI LLC: Proofs of Claim Deadline Set October 9
VISHNIAKI LLC: Creditors Must File Claims by October 9
U N I T E D K I N G D O M
ALLIANCE BOOTS: Highly Leveraged Capital Cues S&P’s B- Ratings
ARVINMERITOR INC: Moody's Cuts Corporate Family Rating to B1
BRITISH AIRWAYS: Traffic Figures Down 0.7% in September 2007
CHEYNE FINANCE: Moody's Cuts Rating to Ba3 on Medium Term Note
CLOROX CO: Prices US$750 Million 11.40% Senior Notes Offering
COLLINS & AIKMAN: Posts US$27,403,332 Net Loss in August 2007
DOLGARROG ALUMINIUM: Administrators Start Phased Shutdown
DURA AUTOMOTIVE: Incurs US$11.4 Million Net Loss in August 2007
EMERALD WINDOWS: Brings In Liquidators from Vantis Business
EUROTUNNEL GROUP: To Launch Reverse Stock Split for GET Shares
FINLAW 532: Claims Filing Period Ends November 16
GEOTHERMIC HEATING: Calls In Liquidators from Vantis Business
ICONIX BRAND: Closes US$231-Mil. Official Pillowtex Acquisition
ISOFT GROUP: Shareholders Okay IBA Health Revised Offer
LEVEL 3: Submits Proposal to Resolve Pending FCC Proceeding
NASH FINCH: Denies Default Under Sr. Convertible Bond Indenture
NATION RESOURCES: Taps Liquidators from Baker Tilly
WHOLE FOODS: Completes Sale of Henry's Farmers and Sun Harvest
* BOND PRICING: For the Week Oct. 1 to Oct. 5, 2007
*********
=============
A U S T R I A
=============
BLITS LLC: Vienna Court Orders Business Shutdown
------------------------------------------------
The Trade Court of Vienna entered Sept. 3 an order shutting down
the business of LLC B.L.I.T.S. (FN 270213y).
Court-appointed estate administrator Susanne Fruhstorfer
recommended the business shutdown after determining that the
continuing operations would reduce the value of the estate.
The estate administrator can be reached at:
Dr. Susanne Fruhstorfer
c/o Dr. Michael Guenther
Seilerstatte 17
1010 Vienna
Austria
Tel: 512 57 76
Fax: 512 57 76 50
E-mail: office@fg-lawyers.at
Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Aug. 17 (Bankr. Case No 6 S 94/07a). Michael Guenther
represents Dr. Fruhstorfer in the bankruptcy proceedings.
D & H LLC: Claims Registration Period Ends Oct. 25
--------------------------------------------------
Creditors owed money by LLC D & H (FN 240809g) have until
Oct. 25 to file written proofs of claim to court-appointed
estate administrator Guenther Hoedl at:
Dr. Guenther Hoedl
c/o Dr. Katharina Widhalm-Budak
Schulerstrasse 18
1010 Vienna
Austria
Tel: 513 16 55
Fax: 513 16 55 33
E-mail: Hoedl@anwaltsteam.at
Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 on Nov. 8 for the examination of
claims.
The meeting of creditors will be held at:
The Trade Court of Vienna
Room 1703
Vienna
Austria
Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Sept. 6 (Bankr. Case No. 5 S 106/07h). Katharina Widhalm-
Budak represents Dr. Hoedl in the bankruptcy proceedings.
EROTIC ENTERPRISES: Claims Registration Period Ends Oct. 30
-----------------------------------------------------------
Creditors owed money by LLC Erotic Enterprises (FN 186518t) have
until Oct. 30 to file written proofs of claim to court-appointed
estate administrator Thomas Herzog at:
Dr. Thomas Herzog
Stadtplatz 19
4840 Voecklabruck
Austria
Tel: 07672/72607-0
Fax: 07672/75567
E-mail: rae.nuss.hoff-herz@aon.at
Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on Nov. 8 for the
examination of claims.
The meeting of creditors will be held at:
The Land Court of Wels
Hall 101
First Floor
Maria Theresia Strasse 12
Wels
Austria
Headquartered in Attnang-Puchheim, Austria, the Debtor declared
bankruptcy on Sept. 3 (Bankr. Case No. 20 S 108/07v).
FLOORTEC LLC: Claims Registration Period Ends Oct. 30
-----------------------------------------------------
Creditors owed money by LLC Floortec (FN 41114m) have until
Oct. 30 to file written proofs of claim to court-appointed
estate administrator Stefan Weidinger at:
Mag. Stefan Weidinger
Dr. Koss-Strasse 3
4600 Wels
Austria
Tel: 07242/67354-0
Fax: 07242/67354-50
E-mail: kanzlei@holme.at
Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:40 a.m. on Nov. 8 for the
examination of claims.
The meeting of creditors will be held at:
The Land Court of Wels
Hall 101
First Floor
Maria Theresia Strasse 12
Wels
Austria
Headquartered in Wels, Austria, the Debtor declared bankruptcy
on Sept. 4 (Bankr. Case No. 20 S 110/07p).
INOCARE MEDIZINTECHNIK: Claims Registration Period Ends Oct. 30
---------------------------------------------------------------
Creditors owed money by LLC Inocare Medizintechnik (FN 271606x)
have until Oct. 30 to file written proofs of claim to court-
appointed estate administrator Klaus Schiller at:
Dr. Klaus Schiller
Stadtplatz 27
4690 Schwanenstadt
Austria
Tel: 07673/6720
Fax: 07673/6720-20
E-mail: office@kanzlei-schiller.at
Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:00 a.m. on Nov. 8 for the
examination of claims.
The meeting of creditors will be held at:
The Land Court of Wels
Hall 101
First Floor
Maria Theresia Strasse 12
Wels
Austria
Headquartered in Schwanenstadt, Austria, the Debtor declared
bankruptcy on Sept. 4 (Bankr. Case No. 20 S 107/07x).
PESACO LLC: Claims Registration Period Ends Oct. 30
---------------------------------------------------
Creditors owed money by LLC PESACO (FN 171563z) have until
Oct. 30 to file written proofs of claim to court-appointed
estate administrator Eva Wexberg at:
Dr. Eva Wexberg
c/o Dr. Walter Kainz
Gusshausstrasse 23
1040 Vienna
Austria
Tel: 505 88 31
Fax: 505 94 64
E-mail: kanzlei@kainz-wexberg.at
Creditors and other interested parties are encouraged to attend
the creditors' meeting at 1:30 p.m. on Nov. 13 for the
examination of claims.
The meeting of creditors will be held at:
The Trade Court of Vienna
Room 1701
Vienna
Austria
Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Sept. 6 (Bankr. Case No. 6 S 112/07y). Walter Kainz
represents Dr. Wexberg in the bankruptcy proceedings.
QUELLEN MALER: Claims Registration Period Ends Oct. 30
------------------------------------------------------
Creditors owed money by LLC Quellen Maler und Anstreicher (FN
282667m) have until Oct. 30 to file written proofs of claim to
court-appointed estate administrator Markus Siebinger at:
Mag. Markus Siebinger
c/o Dr. Karl Schirl
Krugerstrasse 17/3
1010 Vienna
Austria
Tel: 513 22 31
Fax: 513 22 31 1
E-mail: markus.siebinger@der-rechtsanwalt.at
dr.karl.schirl@der-rechtsanwalt.at
Creditors and other interested parties are encouraged to attend
the creditors' meeting at 1:00 p.m. on Nov. 13 for the
examination of claims.
The meeting of creditors will be held at:
The Trade Court of Vienna
Room 1701
Vienna
Austria
Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Sept. 3 (Bankr. Case No. 6 S 109/07g). Karl Schirl
represents Mag. Siebinger in the bankruptcy proceedings.
=============
B E L G I U M
=============
FEDERAL-MOGUL: Posts Net Loss of US$10.4 Million in August 2007
-------------------------------------------------------------
Federal-Mogul Global, Inc., et al.
Unaudited Balance Sheet
As of August 31, 2007
(In millions)
Assets
Cash and equivalents
US$52.3
Accounts receivable 599.8
Inventories 400.7
Deferred taxes 192.5
Prepaid expenses and other current assets 108.2
--------
Total current assets 1,353.4
Summary of Unpaid Postpetition Debits 24.8
Intercompany Loans Receivable (Payable) 1,678.2
--------
Intercompany Balances 1,703.0
Property, plant and equipment 766.4
Goodwill 930.5
Other intangible assets 340.1
Insurance recoverable 880.2
Other non-current assets 521.2
--------
Total Assets US$6,494.9
========
Liabilities and Shareholders' Equity
Short-term debt
US$708.1
Accounts payable 239.9
Accrued compensation 62.4
Restructuring and rationalization reserves 17.0
Current portion of asbestos liability -
Interest payable 3.8
Other accrued liabilities 261.0
--------
Total current liabilities 1,292.2
Long-term debt -
Post-employment benefits 725.1
Other accrued liabilities 546.5
Liabilities subject to compromise 5,456.9
Shareholders' equity:
Preferred stock 1,050.6
Common stock 662.1
Additional paid-in capital 7,997.3
Accumulated deficit (11,424.1)
Accumulated other comprehensive income 188.4
Other -
--------
Total Shareholders' Equity (1,525.7)
--------
Total Liabilities and Shareholders' Equity US$6,494.9
========
Federal-Mogul Global, Inc., et al.
Unaudited Statement of Operations
For the Month Ended August 31, 2007
(In millions)
Net sales
US$283.8
Cost of products sold 236.1
--------
Gross margin 47.6
Selling, general & administrative expenses (44.6)
Amortization (1.2)
Reorganization items (4.2)
Interest income (expense), net (16.3)
Other income (expense), net 8.4
--------
Earnings before Income Taxes (10.2)
Income Tax (Expense) Benefit (0.2)
--------
Earnings before cumulative effect of change
in accounting principle (10.4)
--------
Net Earnings (loss) (US$10.4)
========
Federal-Mogul Global, Inc., et al.
Unaudited Statement of Cash Flows
For the Month Ended August 31, 2007
(In millions)
Cash Provided From (Used By) Operating Activities:
Net earning (loss)
(US$10.4)
Adjustments to reconcile net earnings (loss) to net cash:
Depreciation and amortization 15.1
Adjustment of assets held for sale and
other long-lived assets to fair value -
Asbestos charge -
Summary of unpaid postpetition debits -
Cumulative effect of change in acctg. principle -
Change in post-employment benefits 0.4
Decrease (increase) in accounts receivable (3.6)
Decrease (increase) in inventories 11.9
Increase (decrease) in accounts payable (5.5)
Change in other assets & other liabilities (33.3)
Change in restructuring charge -
Refunds (payments) against asbestos liability -
--------
Net Cash Provided From Operating Activities (25.2)
Cash Provided From (Used By) Investing Activities:
Expenditures for property, plant & equipment (6.6)
Proceeds from sale of property, plant & equipment -
Proceeds from sale of businesses -
Business acquisitions, net of cash acquired -
Other -
--------
Net Cash Provided From (Used By) Investing Activities (6.6)
Cash Provided From (Used By) Financing Activities:
Increase (decrease) in debt 25.1
Sale of accounts receivable under securitization -
Dividends -
Other (0.1)
--------
Net Cash Provided From Financing Activities 25.0
Increase (Decrease) in Cash and Equivalents (6.8)
Cash and equivalents at beginning of period 59.1
--------
Cash and equivalents at end of period US$52.3
========
Based 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 began on
June 18, 2007. The Court heard closing arguments regarding
confirmation of the Plan on October 1 and 2, 2007. The Debtors
proposed certain modifications to the Plan at the end of closing
arguments on Oct. 2. The Debtors officially filed the Plan
Modifications, together with a revised Proposed Order confirming
the Plan, on Oct. 4. (Federal-Mogul Bankruptcy News, Issue No.
147; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
===========
F R A N C E
===========
DELPHI CORP: Posts US$100 Mln Net Loss in Month Ended August 31
---------------------------------------------------------------
Delphi Corporation, et al.
Unaudited Consolidated Balance Sheet
As of August 31, 2007
(In Millions)
ASSETS
Current assets:
Cash and cash equivalents
US$20
Restricted cash 138
Accounts receivable, net:
General Motors and affiliates 1,545
Other third parties 972
Non-Debtor affiliates 367
Notes receivable from non-Debtor affiliates 292
Inventories, net:
Productive material, work-in-process & supplies 862
Finished goods 249
Other current assets 226
--------
TOTAL CURRENT ASSETS 4,671
Long-term assets:
Property, net 1,819
Investment in affiliates 362
Investments in non-Debtor affiliates 3,936
Goodwill 152
Other intangible assets 28
Other 301
--------
TOTAL LONG-TERM ASSETS 6,598
--------
TOTAL ASSETS US$11,269
========
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities not subject to compromise:
Debtor-in-possession financing
US$3,105
Accounts payable 1,261
Accounts payable to non-Debtor affiliates 623
Accrued liabilities 763
Notes payable to non-Debtor affiliates 131
--------
TOTAL CURRENT LIABILITIES 5,883
Long-term liabilities not subject to compromise:
Employee benefit plan obligations and other 707
Liabilities subject to compromise 18,216
--------
TOTAL LIABILITIES 24,806
Stockholders' deficit:
Common stock 6
Additional paid-in capital 2,779
Accumulated deficit (13,534)
Accumulated other comprehensive loss (2,736)
Treasury stock, at cost (3.2 million shares) (52)
--------
TOTAL STOCKHOLDERS' DEFICIT (13,537)
--------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT US$11,269
========
Delphi Corporation, et al.
Unaudited Consolidated Statement of Operations
Month Ended August 31, 2007
(In Millions)
Net sales:
General Motors and affiliates
US$925
Other customers 554
Non-Debtor affiliates 45
--------
Total net sales 1,524
--------
Operating expenses:
Cost of sales 1,463
Long-lived asset impairment charges -
Securities & ERISA litigation charge 21
Depreciation and amortization 41
Selling, general and administrative 93
--------
Total operating expenses 1,618
--------
Operating loss (94)
Interest expense (24)
Loss on extinguishment of debt -
Other (expense) income, net 16
Reorganization items (14)
Income tax benefit (expense) -
Equity income from non-consolidated affiliates 1
Equity income from non-Debtor affiliates 15
--------
NET LOSS (US$100)
========
Delphi Corporation, et al.
Unaudited Consolidated Statement of Cash Flows
Month Ended August 31, 2007
(In Millions)
Cash flows from operating activities:
Net loss (US$100)
Adjustments to reconcile net loss
to net cash provided by operating activities:
Depreciation and amortization 41
Deferred income taxes (1)
Pension and other postretirement benefit expenses 78
Equity income from unconsolidated affiliates (1)
Equity income from non-Debtor affiliates (15)
Reorganization items 14
Securities & ERISA litigation charges 21
Changes in operating assets and liabilities:
Accounts receivable, net (84)
Inventories, net 17
Other assets 8
Accounts payable, accrued and other long-term debts (98)
U.S. employee special attrition program (14)
Other postretirement benefit payments (20)
Pension contributions (1)
Payments for reorganization items (11)
Other (2)
--------
Net cash used in operating activities (168)
Cash flows from investing activities:
Capital expenditures (22)
Increase in restricted cash (28)
Other 4
--------
Net cash used in investing activities (46)
Cash flows from financing activities:
Net proceeds from DIP facility 75
Net repayments of borrowings under other debt pacts 131
Other (2)
--------
Net cash used in financing activities 204
--------
Decrease in cash and cash equivalents (10)
Cash and cash equivalents at beginning of period 30
--------
Cash and cash equivalents at end of period US$20
========
Headquartered in Troy, Mich., Delphi Corporation (OTC: DPHIQ) --
http://www.delphi.com/-- is the single supplier of vehicle
electronics, transportation components, integrated systems and
modules, and other electronic technology. The company's
technology and products are present in more than 75 million
vehicles on the road worldwide. Delphi has regional
headquarters in Japan, Brazil and France.
The company filed for chapter 11 protection on Oct. 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481). John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts. Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represents the Official Committee of Unsecured Creditors. As of
Mar. 31, 2007, the Debtors' balance sheet showed
US$11,446,000,000 in total assets and US$23,851,000,000 in total
debts.
The Debtors' exclusive plan-filing period expires on Dec. 31,
2007. On Sept. 6, 2007, the Debtors filed their Chapter 11 Plan
of Reorganization and a Disclosure Statement explaining that
Plan. (Delphi Bankruptcy News, Issue No. 87 Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).
EMT 25: Enters Into Receivership Procedure
------------------------------------------
The commercial court at Besanco has placed French car parts
specialist EMT 25 under receivership, the Financial Times
reports, citing Les Echos as its source.
According to the report, EMT 25, which employs 196 people, is
given 10 months to come up with a recovery plan.
The company implemented restructuring measures at the end of
2006, FT relates.
EUROTUNNEL GROUP: To Launch Reverse Stock Split for GET Shares
--------------------------------------------------------------
The board of Eurotunnel Group decided to launch a reverse stock
split of GET shares. The event which is planned to start on
Nov. 12, 2007, will be initiated, as set out in the safeguard
plan, with a ratio of one new share for every 40 old shares.
At the same meeting, the Board, in accordance with AMF
regulations, decided on the principle of a "contrat d’animation
de marche" (market maker’s contract) in order to reduce the
excessive volatility in the shares.
"This consolidation constitutes a further step in the financial
restructuring of the group, as set out in the safeguard plan.
Our shares will have a visibility in the market which better
reflects the real value of the company, today and for the
future," Jacques Gounon, chairman and CEO of Groupe Eurotunnel,
disclosed.
The detailed terms of these actions will be the subject of
further detailed notices and of an announcement by the company.
About Eurotunnel
Headquartered in Folkestone, United Kingdom and Calais, France,
Eurotunnel Group (aka Groupe Eurotunnel S.A.) --
http://www.eurotunnel.co.uk/-- operates a fleet of 25 shuttle
trains, which carry cars, coaches and trucks. It manages the
infrastructure of the Channel Tunnel and receives toll revenues
from train operating companies whose trains pass through the
Tunnel.
The British and French governments have granted Eurotunnel a
concession to operate the Channel Tunnel until 2086.
Eurotunnel Group files reports in the U.S. Securities and
Exchange Commission under the names of Eurotunnel PLC (ETNUF.PK)
and Eurotunnel S.A. (ETTFF.PK).
At Dec. 31, 2006, Eurotunnel's balance sheet showed GBP5.25
billion in total assets, GBP6.56 billion in total liabilities
and GBP1.32 billion in shareholders' deficit.
Safeguard Protection
Eurotunnel obtained Aug. 2, 2006, an order placing the channel
operator under the protection of the Court pursuant to the new
safeguard legislation (Procedure de sauvegarde). At the end of
2006, the group's creditors and bondholders approved a plan to
decrease its GBP6.2 billion debt to GBP2.84 billion.
On Jan. 15, 2007, the Court approved Eurotunnel's safeguard
plan, backed by the court-appointed representatives to the
company and to the creditors.
For the first half ended June 30, 2007, Group Eurotunnel posted
net loss of EUR32 million compared with a net loss of EUR105
million for the same period in 2006.
EXIDE TECHNOLOGIES: US$91.7 Million Rights Offering Expires
-----------------------------------------------------------
Exide Technologies announced that the US$91.7 million rights
offering launched on Aug. 31, 2007 expired effective as of 5:00
p.m., New York City time, on Sept. 28, 2007. Based on
preliminary results, subscribers in the rights offering,
including Tontine Capital Partners L.P. and Legg Mason
Investment Trust, Inc., subscribed for greater than 75% of the
14 million shares offered in the rights offering pursuant to
their basic subscription rights. The company expects to receive
the full US$91.7 million in proceeds as a result of shares
purchased in the rights offering and the transactions
contemplated by the standby commitment of the Standby
Purchasers.
Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.
The company has operations in 89 countries, including,
Australia, India, Finland, Poland, New Zealand, among others.
The company filed for chapter 11 protection on Apr. 14, 2002
(Bankr. Del. Case No. 02-11125). Matthew N. Kleiman, Esq., and
Kirk A. Kennedy, Esq., at Kirkland & Ellis, represented the
Debtors in their successful restructuring. The Court confirmed
Exide's Amended Joint Chapter 11 Plan on April 20, 2004. The
plan took effect on May 5, 2004.
* * *
Standard & Poor's Ratings Services, on April 2007, placed its
'CCC' corporate credit rating on Exide Technologies and all
related debt issue ratings on CreditWatch with positive
implications. The CreditWatch listing reflects Exide's
gradually improving financial results, strengthened liquidity,
and prospects for further modest improvements in financial
metrics due in part to a better pricing environment.
KAUFMAN & BROAD: Earns EUR70.3 Million in 9-Month Ended Aug. 31
---------------------------------------------------------------
Kaufman & Broad SA released its unaudited financial results for
the first nine months ended Aug. 31, 2007.
Kaufman & Broad reported a net income of EUR70.3 million on
EUR949 million of revenues for the first nine months ended
Aug. 31, 2007, compared with a net income of EUR65.2 million on
EUR874.6 million of revenues for the same period in 2006.
Gross profit for the first nine months was up 10.7%, at EUR225
million, while gross margin was 0.5 points higher, at 23.7% of
revenues.
Current operating profit rose by 14.8% to EUR127.2 million,
helping to improve the current operating margin by 0.7 points,
to 13.4% of revenues from 12.7% in the first nine months of
2006. In the third quarter alone, the margin stood at 14.5%.
At Aug. 31, 2007, the company’s consolidated balance sheet
showed EUR1.4 billion in total assets, EUR1.1 billion in total
liabilities and EUR231.3 million in shareholders’ equity.
Chairman and Chief Executive Officer Mr. Guy Nafilyan noted that
"operating margins remained high in the first nine months of
fiscal 2007, which saw a continuation of the growth momentum
reported in the first half. Orders enjoyed sustained growth in
the third quarter, gaining more than 9% in volume. In a
comparable economic environment, revenues should end the year up
by more than 10% and margins should remain strong."
As of August 31, 2007, PAI held, via Financiere Gaillon 8 SAS,
79.46% of outstanding Kaufman & Broad SA shares. The
acquisition of this controlling interest involved several
transactions that had an impact both on income attributable to
shareholders and on the balance sheet structure.
The buyback of the Kaufman & Broad brand and the consequences of
the transactions related to PAI acquisition of a controlling
interest on income taxes increased nine-month 2007 income
attributable to shareholders by nearly EUR10 million.
Implementation of the new balance sheet structure helped to
lengthen debt maturity to 7.6 years at Aug. 31, 2007 from 2.5
years at May 31, 2007. The cost of the tender offer for the
company’s senior notes and the amortization of the balance of
issue costs on the syndicated line of credit and the senior
notes issue represented an aggregate expense of around EUR15
million, which was recognized in other financial income and
expenses for the period.
About Kaufman & Broad S.A.
Headquartered in Paris, France, Kaufman & Broad S.A. (Paris:
KOF) -- http://www.uk.ketb.com/uk/home-france/index.asp-- is
one of France’s leading property developers and builders.
Kaufman & Broad has operations in Paris, Bayonne, Bordeaux,
Grenoble, Lille, Lyon, Marseille, Montpellier, Nantes, Nice,
Rouen, Strasbourg, Toulon and Toulouse.
* * *
As reported in the Troubled Company Reporter on Oct. 4, 2007,
Fitch Ratings has affirmed French house builder Kaufman & Broad
SA's Long-term Issuer Default rating and senior unsecured rating
at 'BB-' and removed them from Rating Watch Negative. Fitch has
also affirmed KBSA's Short-term IDR at 'B'. The Outlook for the
Long-term IDR is Stable. Fitch has simultaneously withdrawn all
ratings of KBSA.
SOLECTRON CORP: Agent Discloses Final Result of Exchange
--------------------------------------------------------
Computershare Shareholders Services Inc., the exchange agent for
the transaction, reported final results for the elections made
by Solectron Corporation stockholders regarding the form
of merger consideration they will receive in the merger with
Flextronics International Ltd. Computershare has calculated
that of the 918,438,865 shares of Solectron common stock
outstanding as of the effective time of the merger:
-- 725,108,506 of the outstanding Solectron shares have
submitted valid elections to receive Flextronics
ordinary shares;
-- 81,440,695 of the outstanding Solectron shares have
submitted valid elections to receive cash; and
-- 111,889,664 of the outstanding Solectron shares did not
submit valid elections.
Pursuant to the terms of the merger agreement, Solectron
stockholders were entitled to elect to receive either 0.3450 of
a Flextronics ordinary share or US$3.89 in cash for each share
of Solectron common stock, subject to proration due to minimum
and maximum limits on the amount of stock consideration and cash
consideration. The election deadline expired at 5:00 p.m., EDT,
on Sept. 27, 2007.
Based on the election results and the terms of the merger
agreement:
-- Solectron stockholders who elected to receive stock
consideration will receive Flextronics ordinary shares
with respect to approximately 88.66% of their Solectron
shares and cash with respect to approximately 11.34% of
their Solectron shares;
-- Solectron stockholders who elected to receive cash
consideration will receive cash with respect to all of
their Solectron shares; and
-- Solectron stockholders that failed to submit a valid
election will receive cash with respect to all of their
Solectron shares.
Flextronics will pay approximately US$1.07 billion in cash and
issue approximately 221.8 million Flextronics ordinary shares
pursuant to the merger. No fractional Flextronics ordinary
shares will be issued. Instead, each Solectron stockholder that
would otherwise be entitled to receive Flextronics fractional
shares will receive an amount in cash based on
US$11.42 per Flextronics ordinary share, the average of the per
share closing prices of Flextronics ordinary shares reported on
the NASDAQ Global Select Market during the five consecutive
trading days ending on the trading day immediately preceding the
closing date of the merger.
Solectron stockholders with questions regarding individual
allocation results should contact Innisfree M&A Incorporated
toll free from within the United States and Canada at 877-825-
8971.
About Flextronics International
Headquartered in Singapore, Flextronics International Ltd.
(NasdaqGS: FLEX) -- http://www.flextronics.com/-- is an
Electronics Manufacturing Services provider focused on
delivering 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.
About Solectron Corporation
Based in Milpitas, California, Solectron Corporation (NYSE: SLR)
-- http://www.solectron.com/-- provides complete product
lifecycle services. The company offers collaborative design and
new product introduction, supply chain management, lean
manufacturing and aftermarket services such as product warranty
repair and end-of-life support to customers worldwide. The
company works with the providers of networking, computing,
telecommunications, storage, consumer, automotive, industrial,
medical, self-service automation and aerospace and defense
products. The company's Lean Six Sigma methodology provides
OEMs with quality, flexibility, innovation and cost benefits
that improve competitive advantage. Solectron operates in more
than 20 countries on five continents including France, Malaysia,
and Brazil, among others.
* * *
Moody's Investors Service upgraded Solectron's convertible
senior notes and senior subordinated notes to Ba2 from B3 and
withdrew Solectron's B1 corporate family, B1 probability-of-
default and SGL-1 speculative grade liquidity ratings.
=============
G E R M A N Y
=============
AD2MEDIA GMBH: Claims Registration Ends Nov. 6
----------------------------------------------
Creditors of Ad2media GmbH have until Nov. 6 to register their
claims with court-appointed insolvency manager Rolf G. Pohlmann.
Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on Dec. 6, at which time the
insolvency manager will present his first report on the
insolvency proceedings.
The meeting of creditors will be held at:
The District Court of Munich
Meeting Hall 102
Infanteriestr. 5
80097 Munich
Germany
The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.
The insolvency manager can be reached at:
Rolf G. Pohlmann
Rosental 6
80331 Munich
Germany
Tel: (089)548033-0
Fax: (089)548033-111
The District Court of Munich opened bankruptcy proceedings
against Ad2media GmbH on Sept. 24. Consequently, all pending
proceedings against the company have been automatically stayed.
The Debtor can be reached at:
Ad2media GmbH
Kurfuerstenstr. 79
10787 Berlin
Germany
ALLTAX STEUERBERATUNGSGESELLSCHAFT: Creditors' Claim Due Nov. 14
----------------------------------------------------------------
Creditors of Alltax Steuerberatungsgesellschaft mbH have until
Nov. 14 to register their claims with court-appointed insolvency
manager Alexander Kaesebier.
Creditors and other interested parties are encouraged to attend
the meeting at 10:10 a.m. on Dec. 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 Halle-Saalkreis
Hall 1.043
Judicial Center
Thueringer Str. 16
06112 Halle
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:
Alexander Kaesebier
Tschaikowskistrasse 23
04105 Leipzig
Germany
The District Court of Halle-Saalkreis opened bankruptcy
proceedings against Alltax Steuerberatungsgesellschaft mbH on
Sept. 18. Consequently, all pending proceedings against the
company have been automatically stayed.
The Debtor can be reached at:
Alltax Steuerberatungsgesellschaft mbH
Merseburger Str. 7
06667 Weissenfels
Germany
CHRYSLER LLC: Intends to Close Assembly Plant in Illinois
---------------------------------------------------------
Chrysler LLC, which has started contract negotiations with the
United Auto Workers union this week, plans to shutter an
assembly plant in Belvidere, Illinois, that produces the Dodge
Caliber, Jeep Compass and Jeep Patriot, Kevin Krolicki of
Reuters reports.
According to Mr. Krolicki, Chrysler spokeswoman Michele Tinson
said that the temporary shutdown was being done to adjust
inventory levels of the plant, which employs 3,400 workers.
As reported in the Troubled Company Reporter on Oct. 4, 2007,
Chrysler reported U.S. sales for September 2007 of 159,799
units; down 5% compared to September 2006 with 168,888 units
sold. Jeep(R) brand sales were down 11% year-over-year with
retail sales up and fleet down driven by planned fleet
reductions, while Wrangler posted gains. Jeep Wrangler and
Wrangler Unlimited posted sales of 8,605 units, up 71% versus
September 2006. Dodge brand sales increased 5% over last year
led by Dodge Ram which posted a gain of 20%. The all-new Dodge
Nitro was up 2% over August 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.
* * *
On Oct. 1, 2007, Standard & Poor's Ratings Services placed its
corporate credit ratings on Chrysler LLC and DaimlerChrysler
Financial Services Americas LLC on CreditWatch with positive
implications.
As reported in the Troubled Company Reporter on Aug. 8, 2007,
Standard & Poor's Ratings Services revised its loan and recovery
ratings on Chrysler LLC's (B/Negative/--) US$10 billion senior
secured first-lien term loan facility due 2013, following
various changes to terms and conditions prior to closing. The
US$10 billion first-lien term loan now consists of a US$5
billion "first-out" tranche and a US$5 billion "second-out"
tranche, so the aggregate amount of first-lien debt remains
unchanged.
Accordingly, S&P assigned a 'BB-' rating to the US$5 billion
"first-out" first-lien term loan tranche. This rating, two
notches above the corporate credit rating of 'B' on Chrysler
LLC, and the '1' recovery rating indicate S&P's expectation for
very high recovery in the event of payment default. S&P also
assigned a 'B' rating to the US$5 billion "second-out" first-
lien term loan tranche. This rating, the same as the corporate
credit rating, and the '3' recovery rating indicate S&P's
expectation for a meaningful recovery in the event of payment
default.
Moody's Investors Service has affirmed Chrysler Automotive LLC's
B3 Corporate Family Rating, and the Caa1 rating of the company's
US$2 billion senior secured, second lien term loan in connection
with Monday's closing of DaimlerChrysler AG's sale of a majority
interest of Chrysler Group to Cerberus Capital Management LLC.
DIALOG GMBH: Claims Registration Ends November 13
-------------------------------------------------
Creditors of DIALOG GmbH have until Nov. 13 to register their
claims with court-appointed insolvency manager Dr. Henning
Dohrmann.
Creditors and other interested parties are encouraged to attend
the meeting at 9:55 a.m. on Dec. 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 1240
12th Floor
Luxemburger Str. 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:
Dr. Henning Dohrmann
Moltkestr. 12
51643 Gummersbach
Germany
The District Court of Cologne opened bankruptcy proceedings
against DIALOG GmbH on Sept. 19. Consequently, all pending
proceedings against the company have been automatically stayed.
The Debtor can be reached at:
DIALOG GmbH
Berta-Schulz-Str. 7
51674 Wiehl
Germany
Attn: Bernd Theinert, Manager
Legefeld 2
99423 Weimar
Germany
FIRSTCLASS SPORT: Claims Registration Ends November 13
------------------------------------------------------
Creditors of Firstclass Sport Cars GmbH have until Nov. 13 to
register their claims with court-appointed insolvency manager
Dr. Joerg Nerlich.
Creditors and other interested parties are encouraged to attend
the meeting at 11:15 a.m. on Dec. 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 Cologne
Meeting Hall 14
Ground Floor
Luxemburger Str. 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:
Dr. Joerg Nerlich
Aachener Str. 563-565
50933 Cologne
Germany
The District Court of Cologne opened bankruptcy proceedings
against Firstclass Sport Cars GmbH on Sept. 12. Consequently,
all pending proceedings against the company have been
automatically stayed.
The Debtor can be reached at:
Firstclass Sport Cars GmbH
Attn: Eric van de Veen and Alexander Morlock, Managers
Kaiser-Wilhelm-Ring 27-29
50672 Cologne
Germany
FLAIR POLSTERMOEBELVERTRIEB: Claims Registration Ends Oct. 26
-------------------------------------------------------------
Creditors of Flair Polstermoebelvertrieb Verwaltungs GmbH have
until Oct. 26 to register their claims with court-appointed
insolvency manager Biner Bahr.
Creditors and other interested parties are encouraged to attend
the meeting at 11:10 a.m. on Nov. 16, at which time the
insolvency manager will present his first report on the
insolvency proceedings.
The meeting of creditors will be held at:
The District Court of Detmold
Meeting Room 12
Ground Floor
Gerichtsstr. 6
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:
Dr. Biner Bahr
Graf-Adolf-Platz 15
40213 Duesseldorf
Germany
The District Court of Detmold opened bankruptcy proceedings
against Flair Polstermoebelvertrieb Verwaltungs GmbH on
Sept. 20. Consequently, all pending proceedings against the
company have been automatically stayed.
The Debtor can be reached at:
Flair Polstermoebelvertrieb Verwaltungs GmbH
Daimlerstr. 29
32257 Buende
Germany
Attn: Gregor Noelle, Manager
Kirchplatz 2
33422 Herzebrock-Clarholz
Germany
FM MOEBEL: Claims Registration Period Ends Oct. 23
--------------------------------------------------
Creditors of FM Moebel GmbH have until Oct. 23 to register their
claims with court-appointed insolvency manager Sven-Holger
Undritz.
Creditors and other interested parties are encouraged to attend
the meeting at noon on Nov. 23, at which time the insolvency
manager will present his first report on the insolvency
proceedings.
The meeting of creditors will be held at:
The District Court of Detmold
Meeting Room 12
Ground Floor
Gerichtsstr. 6
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:
Dr. Sven-Holger Undritz
Jungfernstieg 51
20354 Hamburg
Germany
The District Court of Detmold opened bankruptcy proceedings
against FM Moebel GmbH on Sept. 20. Consequently, all pending
proceedings against the company have been automatically stayed.
The Debtor can be reached at:
FM Moebel GmbH
Vlothoer Str. 119
32547 Bad Oeynhausen
Germany
Attn: Heinz Reker, Manager
Kastanienweg 14
32676 Luegde
Germany
G & Z FACILITY: Claims Registration Period Ends Oct. 23
-------------------------------------------------------
Creditors of G & Z Facility Service GmbH have until Oct. 23 to
register their claims with court-appointed insolvency manager
Goerge Scheid.
Creditors and other interested parties are encouraged to attend
the meeting at 10:10 a.m. on Nov. 20, 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 Gera
Room 317
Rudolf-Diener-Str. 1
Gera
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:
Goerge Scheid
Rudolf-Diener-Str. 9
07545 Gera
Germany
The District Court of Gera opened bankruptcy proceedings against
G & Z Facility Service GmbH on Sept. 27. Consequently, all
pending proceedings against the company have been automatically
stayed.
The Debtor can be reached at:
G & Z Facility Service GmbH
Attn: Oleg Morunov, Manager
Randla-32
Estonia
Germany
INGENIEURBUERO FUER TRAGWERKSPLANUNG: Claims Bar Date on Oct. 25
----------------------------------------------------------------
Creditors of Ingenieurbuero fuer Tragwerksplanung Hubertus
Zimmerling GmbH & Co. KG have until Oct. 25 to register their
claims with court-appointed insolvency manager Paul Fink.
Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Nov. 7, at which time the insolvency
manager will present his first report on the insolvency
proceedings.
The meeting of creditors will be held at:
The District Court of Duesseldorf
Meeting Hall A 409
Fourth 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. Paul Fink
Rheinort 1
40213 Duesseldorf
Germany
The District Court of Duesseldorf opened bankruptcy proceedings
against Ingenieurbuero fuer Tragwerksplanung Hubertus Zimmerling
GmbH & Co. KG on Sept. 25. Consequently, all pending
proceedings against the company have been automatically stayed.
The Debtor can be reached at:
Ingenieurbuero fuer Tragwerksplanung Hubertus
Zimmerling GmbH & Co. KG
Friedenstr. 2
40219 Duesseldorf
Germany
LIESER & CO: Claims Registration Ends Nov. 9
--------------------------------------------
Creditors of Lieser & Company Immobilienmanagement GmbH have
until Nov. 9 to register their claims with court-appointed
insolvency manager Stefan Hinrichs.
Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on Dec. 15, 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 Hamburg
Hall B 405
Fourth Floor Annex
Civil Justice Bldg.
Sievkingplatz 1
20355 Hamburg
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:
Stefan Hinrichs
Kaiser-Wilhelm-Strasse 93
20355 Hamburg
Germany
The District Court of Hamburg opened bankruptcy proceedings
against Lieser & Company Immobilienmanagement GmbH on Sept. 17.
Consequently, all pending proceedings against the company have
been automatically stayed.
The Debtor can be reached at:
Lieser & Company Immobilienmanagement GmbH
Himmelstr. 9
22299 Hamburg
Germany
MALERWERKSTATTEN PITTURA: Creditors Must File Claims by Nov. 13
---------------------------------------------------------------
Creditors of Malerwerkstatten Pittura GmbH have until Nov. 13 to
register their claims with court-appointed insolvency manager
Karl-Dieter Sommerfeld.
Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on Dec. 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:
Karl-Dieter Sommerfeld
Hammerweg 3
51766 Engelskirchen
Germany
The District Court of Cologne opened bankruptcy proceedings
against Malerwerkstatten Pittura GmbH on Sept. 18.
Consequently, all pending proceedings against the company have
been automatically stayed.
The Debtor can be reached at:
Malerwerkstatten Pittura GmbH
Hirschanger 2
51427 Bergisch Gladbach
Germany
MCFLIGHT FLUGVERMITTLUNG: Claims Registration Ends Nov. 12
----------------------------------------------------------
Creditors of McFLIGHT Flugvermittlung GmbH have until Nov. 12 to
register their claims with court-appointed insolvency manager
Dr. Franz-Josef Hansen.
Creditors and other interested parties are encouraged to attend
the meeting at 2:00 p.m. on Dec. 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 Aschaffenburg
Meeting Hall 5.103
Schlossplatz 5
63739 Aschaffenburg
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. Franz-Josef Hansen
Kapuzinerplatz 1
63739 Aschaffenburg
Germany
Tel: 06021/386710
Fax: 06021/3867130)
The District Court of Aschaffenburg opened bankruptcy
proceedings against McFLIGHT Flugvermittlung GmbH on Sept. 15.
Consequently, all pending proceedings against the company have
been automatically stayed.
The Debtor can be reached at:
McFLIGHT Flugvermittlung GmbH
Elisenstr. 13
63739 Aschaffenburg
Germany
MEDICAL VITA: Claims Registration Period Ends Oct. 30
-----------------------------------------------------
Creditors of Medical Vita GmbH have until Oct. 30 to register
their claims with court-appointed insolvency manager Anton
Rosenauer.
Creditors and other interested parties are encouraged to attend
the meeting at 8:30 a.m. on Dec. 4, 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 Stuttgart
Room 178
Hauffstr. 5
70190 Stuttgart
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:
Anton Rosenauer
Industriestr. 3
70565 Stuttgart
Germany
Tel: 0711/2 31 75 93
Fax: 0711/2 31 75 94
The District Court of Stuttgart opened bankruptcy proceedings
against Medical Vita GmbH on Sept. 26. Consequently, all
pending proceedings against the company have been automatically
stayed.
The Debtor can be reached at:
Medical Vita GmbH
Attn: Sandra Diebold, Manager
Calwer Str. 27
70173 Stuttgart
Germany
NORMBAU VERWALTUNG: Claims Registration Period Ends Oct. 23
-----------------------------------------------------------
Creditors of Normbau Verwaltung GmbH have until Oct. 23 to
register their claims with court-appointed insolvency manager
Andreas Stratenwerth.
Creditors and other interested parties are encouraged to attend
the meeting at 9:30 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 Bielefeld
Hall 4065
Fourth Floor
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:
Andreas Stratenwerth
Lemgoer Str. 4
33604 Bielefeld
Germany
The District Court of Bielefeld opened bankruptcy proceedings
against Normbau Verwaltung GmbH on Sept. 24. Consequently, all
pending proceedings against the company have been automatically
stayed.
The Debtor can be reached at:
Normbau Verwaltung GmbH
Fichtenweg 13
33649 Bielefeld
Germany
Attn: Johann Schmidt, Manager
Essener Str. 21
33649 Bielefeld
Germany
RAPID BAU: Claims Registration Ends Nov. 11
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Creditors of Rapid Bau GmbH have until Nov. 11 to register their
claims with court-appointed insolvency manager Dr. Ruediger
Werres.
Creditors and other interested parties are encouraged to attend
the meeting at 10:50 a.m. on Dec. 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 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:
Dr. Ruediger Werres
Friesenplatz 17 a
50672 Cologne
Russia
The District Court of Cologne opened bankruptcy proceedings
against Rapid Bau GmbH on Sept. 24. Consequently, all pending
proceedings against the company have been automatically stayed.
The Debtor can be reached at:
Rapid Bau GmbH
Rodenkirchener Str. 79
50997 Cologne
Germany
RHEIN-RUHR-POLSTER GMBH: Claims Registration Period Ends Oct. 15
----------------------------------------------------------------
Creditors of RHEIN-RUHR-POLSTER GmbH have until Oct. 15 to
register their claims with court-appointed insolvency manager
Raimund Kress.
Creditors and other interested parties are encouraged to attend
the meeting at 9:20 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 Essen
Meeting Hall 293
Zweigertstr. 52
45130 Essen
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:
Raimund Kress
Universitaetsstrasse 125
44789 Bochum
&nbs