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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

            Friday, October 19, 2007, Vol. 8, No. 208

                            Headlines


A U S T R I A

BKW LLC: Wels Court Orders Business Shutdown
NIESS RAUMAUSSTATTUNG: Claims Registration Period Ends Oct. 30
NIGHT-ST LLC: Steyr Court Orders Business Shutdown
QUELLEN MALER: Vienna Court Orders Business Shutdown
RITSCHI BITSCH: Claims Registration Period Ends Nov. 1

SOLDO LLC: Vienna Court Orders Business Shutdown
VOSEK LLC: Claims Registration Period Ends Nov. 6
WOLFGANG LACKNER: Claims Registration Period Ends Oct. 31


B E L G I U M

SOLUTIA INC: Treatment of Claims Under Revised Plan


D E N M A R K

EASTMAN KODAK: Paying 25 Cents Per Share Dividend on Dec. 14


F R A N C E

BOSTON SCIENTIFIC: To Reduce Workforce by 2,300 Worldwide
GOODYEAR TIRE: Conversion Period for Sr. Notes Ends Dec. 31
XEROX CORP: Bags US$82-Million Contract with EUROPART


G E R M A N Y

ACM TOURISMUS: Claims Registration Ends November 6
BERO WARMEVERSORGUNG: Claims Registration Ends November 6
CHRYSLER LLC: Negotiator Urges UAW Leaders to Reject New Pact
CLEAN IN THE CITY: Claims Registration Ends Nov. 5
EURO-TRANS TRANSPORTE: Creditors Must File Claims by November 9

FLOWMEDICAL GMBH: Claims Registration Ends Nov. 2
FUN TRADE: Claims Registration Ends Nov. 5
INGENIEUR CONSULT: Claims Registration Period Ends Jan. 2
MEDIATRADE SYSTEMS: Creditors Must File Claims by November 9
MTR HAUSKONZEPTE: Creditors Must File Claims by November 9

OV TREUHAND: Claims Registration Ends Nov. 1
PANO WASCH: Claims Registration Period Ends Oct. 31
PBMG MBH: Claims Registration Ends November 6
R & R BAU: Claims Registration Ends November 5
SEAFOOD-HOUSE GMBH: Claims Registration Period Ends Nov. 1

VAN DE SANDT: Claims Registration Period Ends Nov. 23
WEIN- WIESSNER GMBH: Claims Registration Period Ends Oct. 30
WINKELMEYER VERWALTUNGS: Claims Registration Period Ends Oct. 30
WITTE REISE: Claims Registration Period Ends Nov. 2


H U N G A R Y

AES CORP: Commences Cash Tender Offer for US$1.24 Bln Sr. Notes
AES CORP: May Use Bond Proceeds to Buy 49.99% Brasiliana Stake


I R E L A N D

RITCHIE IRELAND: Exclusive Plan Filing Period Moved to Jan. 16


I T A L Y

PARMALAT SPA: Settles Case Against Banca Ifis for EUR2 Million


K A Z A K H S T A N

AKSURAN-2002 LLP: Proof of Claim Deadline Slated for Nov. 21
DERIBSAL LLP: Creditors Must File Claims Nov. 21
ENERGOTRUST LLP: Claims Filing Period Ends Nov. 23
EQUIPMENT GROUP: Creditors' Claims Due on Nov. 23
GLOBAL-A LLP: Claims Registration Ends Nov. 20

KAZAKHSKY GUMANITARNY: Creditors Must File Claims Nov. 23
MEDITSINSKY CENTRE: Claims Filing Period Ends Nov. 20
MEHANOMONTAGE OJSC: Creditors' Claims Due on Nov. 23
NESTLE ROSSIYA: Claims Registration Ends Nov. 23
NORDIC ALUMINIUM: Proof of Claim Deadline Slated for Nov. 23


K Y R G Y Z S T A N

FUND FOR SOCIAL-ECONOMIC DEVELOPMENT: Claims Filing Ends Nov. 21


L U X E M B O U R G

EVRAZ GROUP: Steel Output Drops 16% for Third Quarter 2007


N E T H E R L A N D S

GLOBAL POWER: Exclusive Plan-Filing Period Extended to Oct. 24
GLOBAL POWER: Wants Court to Approve Plan Support Agreement
KONINKLIJKE AHOLD: Court Orders Release of Settlement Payouts
KONINKLIJKE AHOLD: Reacquires Own Shares for EUR43.36 Million
KONINKLIJKE AHOLD: Sells Tops Market to Morgan Stanley


P O R T U G A L

BEARINGPOINT INC: Taps Rick Martino as Executive VP of Global HR


R U S S I A

AL'VIS OJSC: Asset Sale Slated for November 13
AVRYUZ APC*: Asset Sale Slated for November 6
COMMERCIAL INVESTMENT: Court Starts Competitive Proceedings
DISTILLERY ARKADAKSKIJ: Asset Sale Slated for November 9
EVRAZ GROUP: Steel Output Drops 16% for Third Quarter 2007

ISKITIMSKIJ CJSC: Creditors Must File Claims by Dec. 6
LEFORTOVO CJSC: Creditors Must File Claims by Nov. 5
MINERAL-RESOURCE CJSC: Creditor Must File Claims by Nov. 6
MINYARSKIJ METIZNO: Creditors Must File Claims by Nov. 6
PERESLAVL' CJSC: Asset Sale Slated for November 7

TERSA CJSC: Asset Sale Slated for November 5
URALTRANSBANK: Fitch Affirms B- IDR on Low Capital Flexibility


S P A I N

EMPRESAS HIPOTECARIO 5: S&P Junks EUR30.8 Million Class D Notes
HIPOTOTTA NO. 6: S&P Junks EUR11.45 Million Class F Notes


U K R A I N E

ACTIVE-BANK: Moody's Assigns B3/NP/E+/Baa3.ua Ratings
DON METAL: Proofs of Claim Deadline Set October 20
EUM LTD: Creditors Must File Claims by October 20
EURO-START LLC: Creditors Must File Claims by October 20
HOUSEHOLD EQUIPMENT: Proofs of Claim Deadline Set October 20

MEBOS LLC: Creditors Must File Claims by October 20
TECHNICS OJSC: Creditors Must File Claims by October 20


U N I T E D   K I N G D O M

ADVANCED MARKETING: Wants More Time to Decide on Remaining Lease
BGM CRYOGENIC: Brings In Liquidators from BDO Stoy Hayward
COLLINS & AIKMAN: Joint Amended Plan Effective as of October 12
COLLINS & AIKMAN: Shuts Down Operation After Sale Completion
COLLINS & AIKMAN: Continues Sale of 400 Patents Despite Closure

DURA AUTOMOTIVE: Wants John Knappenberger Separation Pact Okayed
ENRON CORP: Creditors Appeal Denial of Claims Subordination
FORD MOTOR: Continues Low-Level Contract Talks with UAW
GARLINGE SERVICES: Claims Filing Period Ends November 8
GENERAL MOTORS: To Cut 767 Jobs at Hammtramck Plant in December

GENERAL MOTORS: New UAW Terms Cue Moody's Positive Outlook
HAWTHORN VENTURES: Joint Liquidators Take Over Operations
J & H BODY: Calls In Liquidators from Tenon Recovery
LEVEL 3: Completes Purchase of AT&T Inc.'s BellSouth Assets
MTI TECHNOLOGY: Files for Chapter 11 Bankruptcy Protection
MTI TECHNOLOGY: Case Summary & 19 Largest Unsecured Creditors

MTI TECH: Selling European Units to Zinc Holdings for US$5.5 Mln
NORTHERN ROCK: Bank of England Debt Reaches GBP16 Billion
NORTHERN ROCK: Virgin Group Expects Takeover Response Next Week
NORTHERN ROCK: MPs Want Executives to Resign Due to Incompetence
POPE & TALBOT: Further Extends Lender Pact on Covenant Default

REMY WORLDWIDE: Wants to Employ AP Services as Crisis Manager
REMY WORLDWIDE: Wants to Assume Caterpillar Inventory Agreement
SCO GROUP: Files Schedules of Assets and Liabilities
SCO Group: Terminates 16 Employees; Wants Names Filed Under Seal
SUN MICROSYSTEMS: Spares Scottish Unit from Worldwide Job Cuts

TATA MOTORS: To Consider July-Sept. 2006 Results on Oct. 31
VISTEON CORP: Selling Largest UK Operation to Linamar
WATERFORD WEDGWOOD: Eyes EUR50 Mln Preference Shares Placement

* BOOK REVIEW: The First Junk Bond: A Story of Corporate
               Boom and Bust


                            *********

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


BKW LLC: Wels Court Orders Business Shutdown
--------------------------------------------
The Land Court of Wels entered Sept. 14 an order shutting down
the business of LLC BKW (FN 273040f).

Court-appointed estate administrator Johannes Hofmann
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. Johannes Hofmann
         Ringstrasse 38
         4600 Wels
         Austria
         Tel: 07242/65358
         Fax: 07242/65358-25
         E-mail: ra.hofmann@aon.at

Headquartered in Wels, Austria, the Debtor declared bankruptcy
on Sept. 12 (Bankr. Case No 20 S 117/07t).


NIESS RAUMAUSSTATTUNG: Claims Registration Period Ends Oct. 30
--------------------------------------------------------------
Creditors owed money by LLC Niess Raumausstattung (FN 244477a)
have until Oct. 30 to file written proofs of claim to court-
appointed estate administrator Martin Edelmann at:

         Mag. Martin Edelmann
         Stadtplatz 36
         4840 Voecklabruck
         Austria
         Tel: 07672/29360
         Fax: 07672/29360-13
         E-mail: anwaelte@vb-lex.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 1:40 p.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 Laakirchen, Austria, the Debtor declared
bankruptcy on Sept. 20 (Bankr. Case No. 20 S 118/07i).


NIGHT-ST LLC: Steyr Court Orders Business Shutdown
--------------------------------------------------
The Land Court of Steyr entered Sept. 20 an order shutting down
the business of LLC Night-ST (FN 236419a).

Court-appointed estate administrator Gerwald Schmidberger
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. Gerwald Schmidberger
         c/o Dr. Heinz Kassmannhuber
         Stelzhamerstrasse 11
         4400 Steyr
         Austria
         Tel: 07252/50300
         E-mail: office@sks-law.at

Headquartered in Steyr, Austria, the Debtor declared bankruptcy
on Sept. 11 (Bankr. Case No 14 S 34/07h).  Heinz Kassmannhuber
represents Dr. Schmidberger in the bankruptcy proceedings.


QUELLEN MALER: Vienna Court Orders Business Shutdown
----------------------------------------------------
The Trade Court of Vienna entered Sept. 19 an order shutting
down the business of LLC Quellen Maler und Anstreicher (FN
282667m).

Court-appointed estate administrator Markus Siebinger
recommended the business shutdown after determining that the
continuing operations would reduce the value of the estate.

The estate administrator can be reached 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

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.


RITSCHI BITSCH: Claims Registration Period Ends Nov. 1
------------------------------------------------------
Creditors owed money by KG Ritschi Bitsch Flatz (FN 237694a)
have until Nov. 1 to file written proofs of claim to court-
appointed estate administrator Anton Weber at:

         Dr. Anton Weber
         Rathausstrasse 35a
         6900 Bregenz
         Austria
         Tel: 05574/43681
         Fax: 05574/48312
         E-mail: anton.weber@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on Nov. 8 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 Bregenz, Austria, the Debtor declared
bankruptcy on Sept. 18 (Bankr. Case No. 14 S 37/07i).


SOLDO LLC: Vienna Court Orders Business Shutdown
------------------------------------------------
The Trade Court of Vienna entered Sept. 17 an order shutting
down the business of LLC Soldo (FN 114069z).

Court-appointed estate administrator Stefan Jahns recommended
the business shutdown after determining that the continuing
operations would reduce the value of the estate.

The estate administrator can be reached at:

         Mag. Stefan Jahns
         c/o Dr. Matthias Klissenbauer
         Gonzagagasse 15
         1010 Vienna
         Austria
         Tel: 532 17 11
         Fax: 532 17 11-11
         E-mail: kanzlei@jahns.co.at
                 office@klissenbauer.com

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Sept. 7 (Bankr. Case No 6 S 114/07t).  Matthias Klissenbauer
represents Mag. Jahns in the bankruptcy proceedings.


VOSEK LLC: Claims Registration Period Ends Nov. 6
-------------------------------------------------
Creditors owed money by LLC VOSEK (FN 254021k) have until Nov. 6
to file written proofs of claim to court-appointed estate
administrator Michael Ludwig Lang  at:

         Mag. Michael Ludwig Lang
         Maria-Theresien-Strasse 9/4
         1090 Vienna
         Austria
         Tel: 319 32 60
         Fax: 319 32 60 9
         E-mail: office@blb.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on Nov. 20 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 Sept. 20 (Bankr. Case No. 28 S 105/07f).


WOLFGANG LACKNER: Claims Registration Period Ends Oct. 31
---------------------------------------------------------
Creditors owed money by KG Wolfgang Lackner & Partner (FN
223820y) (fka KEG Lackner & Partner) have until Oct. 31 to file
written proofs of claim to court-appointed estate administrator
Candidus Cortolezis at:

         Dr. Candidus Cortolezis
         Hauptplatz 14
         8010 Graz
         Austria
         Tel: 0316/813973
         Fax: 0316/8477970
         E-mail: office@cortolezis.com

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on Nov. 8 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 - Strassgang, Austria, the Debtor declared
bankruptcy on Sept. 14 (Bankr. Case No. 26 S 70/07z).


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


SOLUTIA INC: Treatment of Claims Under Revised Plan
---------------------------------------------------
Under the Consensual Plan filed by Solutia Inc. and its debtor-
affiliates with the U.S. Bankruptcy Court for the Southern
District of New York on Oct. 15, 2007, all Claims and Equity
Interests, except Administrative Expense Claims and Priority Tax
Claims, are classified in 20 classes for purposes of voting and
future distributions.

According to Jeffry N. Quinn, chairman, president and chief
executive officer of Solutia, Inc., the proposed recoveries are
"projected" recoveries and may change based on certain
adjustments in Allowed Claims and available proceeds.  The
recovery calculations, he explained, are based on these
assumptions:

  (i) a midpoint implied equity value for Reorganized Solutia
      of approximately US$1,200,000,000;

(ii) a General Unsecured Claims pool of US$342,000,000 -- the
      midpoint of Solutia's estimated range for the ultimate
      aggregate amount of Allowed General Unsecured Claims;

(iii) an exercise price in the Rights Offering at a 33.33%
      discount to Solutia's Valuation;

(iv) full subscription to the Rights Offering by participating
      parties;

  (v) full subscription by the Backstop Group to the Backstop
      Pool; and

(vi) that all recoveries are calculated net of the cost to
      acquire rights.

The Classes of Claims are:

                                            Estimated  Estimated
                                            Aggregated
Percentage
Class  Designation     Treatment            Amount     Recovery
-----  -----------     ---------           ---------  ---------
1      Priority
        Non-Tax Claims  Unimpaired;          US$2,200,000   100%
                        deemed to accept

2      Secured Claims  Unimpaired;          40,000,000   100%
                                                 to
                                             50,000,000

3      Senior Secured  Impaired;            209,900,000  100%
        Note Claims     entitled to vote

4      Convenience     Unimpaired;          1,000,000    100%
        Claims          deemed to accept        to
                                             2,500,000

5      CPFilms Claims  Impaired;            8,400,000    100%
                        entitled to vote

6      NRD Claims      Unimpaired;             N/A        -
                        deemed to accept

7      Insured Claims  Unimpaired;             N/A        -
                        deemed to accept

8      Tort Claims     Unimpaired;             N/A        -
                        deemed to accept

9      Legacy Site     Unimpaired;             N/A        -
        Claims          deemed to accept

10    Equity           Unimpaired;             N/A       N/A
       Interests in     deemed to accept
       all Debtors
       other than
       Solutia

11    Monsanto Claim   Impaired;               -            -
                        entitled to vote

12    Noteholder       Impaired;          455,400,000    88.4%
       Claims           entitled to vote

13    General          Impaired;          317,000,000    83.1%
       Unsecured        entitled to            to
       Claims           vote               367,000,000

14    Retiree Claim    Impaired;           35,000,000    69.8%
                        entitled to vote

15    Pharmacia        Impaired;               N/A        N/A
       Claims           entitled to vote


16    Non-Debtor       Impaired;          108,000,000      40%
       Intercompany     entitled to vote
       Claims

17    Debtor           Impaired;        2,440,000,000       0%
       Intercompany     entitled to vote
       Claims

18    Axio Claims      Impaired;               N/A          0%
                        deemed to reject

19    Security Claims  Impaired;         Pro Rata Share      -
                        entitled to vote

20    Equity           Impaired;
       Interests in     entitled to vote     0.01/share       -
       Solutia

Pursuant to Section III.B.7 of the Consensual Plan, the NRD
Claims will be reinstated and paid in accordance with the terms
of the Consensual Plan and the Monsanto Settlement Agreement.
Section III.B.8, on the other hand, provides that the Tort
Claims will be unaffected by Solutia's Chapter 11 cases and will
be resolved in the ordinary course of business.

Monsanto is taking financial responsibility for the Legacy Site
Claims under the Consensual Plan.

Pursuant to the Consensual Plan and the Monsanto Settlement
Agreement, Pharmacia will receive a limited indemnity from
reorganized Solutia and a limited release from the Debtors,
Reorganized Solutia and their estates for claims arising before
the Petition Date; Holders of Claims or Equity Interests; and
the Retirees Committee.

Holders of Security Claims will receive their Pro Rata share of
the Distribution provided to Holders of Equity Interests in
Class 20.

Solely for purposes of tabulating votes to accept or reject the
Plan in accordance with Section 1126(d) of the bankruptcy Code,
each share of Solutia's common stock will be deemed to be worth
US$0.01.

Mr. Quinn states that the Plan Distributions will be made only
to Holders of Allowed Claims and certain Holders of common stock
in Solutia.  Holders of disputed claims will receive no
distributions unless and until their claims become Allowed.  He
adds that a condition to the Effective Date is that Solutia
establish a "Disputed General Unsecured Claims Reserve."

According to Mr. Quinn, the reserve cannot be established and
initial distributions to Holders of Allowed General Unsecured
Claims and 2027/2037 Notes Claims cannot be made until all
relevant unliquidated and disputed claims are estimated or fixed
for distribution purposes.  There are currently 15 unliquidated
claims classified as General Unsecured Claims, excluding claims
that Solutia believes are Tort Claims, Legacy Site Claims,
Retiree Claims or Claims in other Classes that are not subject
to the Disputed General Unsecured Claims Reserve.

In addition, Mr. Quinn notes, there are 62 General Unsecured
Claims in the asserted amount of US$634,170,000, which Solutia
opposes for various reasons.  The number excludes claims that
Solutia believes are Tort Claims, Legacy Site Claims, Retiree
Claims or Claims in other Classes that are not subject to the
Disputed General Unsecured Claims Reserve.

While it is in the process of attempting to resolve each of
these Claims, Solutia projects that if the Effective Date occurs
on December 31, 2007, the amount it would need to reserve for
the Claims is US$40,460,000, comprised of approximately
US$20,000,000 on account of Unliquidated Claims and
approximately US$20,000,000 for other disputed General Unsecured
Claims.

Mr. Quinn says the estimate does not include the additional
General Unsecured Claims related to the "Dickerson Plaintiffs"
or the Senior Secured Notes, if any.  The Dickerson Claim, which
was asserted for US$290,000,000, was estimated by Solutia at
US$0.

The Unimpaired Classes 1, 2, 4, 6, 7, 8, 9, and 10 will be paid
in cash, in full, on the Effective Date, will be reinstated or
will otherwise not be impaired by the terms of the Amended Plan.
Holders of Claims in those Classes are deemed to accept the
Amended Plan.  Claims in Class 16 will receive a distribution
under the Amended Plan, and its holders are deemed to accept the
Amended Plan.  Claims in Class 17 will not receive a
distribution and its holders are deemed to accept the Amended
Plan.

The Impaired Classes 3, 5, 11, 12, 13, 14, 15, 19, and 20 are
entitled to vote on the Amended Plan.  Claims in Class 3 will be
satisfied, as determined by the Court, on the Effective Date,
but are deemed impaired for voting purposes.  Class 5 Claims
will be paid in cash in full on the Effective Date, but are
deemed impaired for voting purposes.

Claims in Classes 11, 12, 13, 14, 15, and 19 will receive
distribution of shares of New Common Stock or other
distributions under the terms of the Amended Plan.  Eligible
holders of Solutia common stock will receive distributions of
shares of New Common Stock, warrants, Equity Purchase Rights or
Claim Transfer Rights.

                        About Solutia Inc.

Headquartered in St. Louis, Missouri, Solutia Inc. (OTCBB:SOLUQ)
-- http://www.solutia.com/-- and its subsidiaries, engage in
the manufacture and sale of chemical-based materials, which are
used in consumer and industrial applications worldwide.  Solutia
has operations in Malaysia, China, Singapore, Belgium, and
Colombia.

Saflex is a registered trademark of Solutia Inc.
The company and 15 debtor-affiliates filed for chapter 11
protection on Dec. 17, 2003 (Bankr. S.D.N.Y. Case No. 03-17949).
When the Debtors filed for protection from their creditors, they
listed US$2,854,000,000 in assets and US$3,223,000,000 in debts.


Solutia is represented by Allen E. Grimes, III, Esq., at
Dinsmore & Shohl, LLP and Conor D. Reilly, Esq., at Gibson,
Dunn & Crutcher, LLP.  Trumbull Group LLC is the Debtor's claims
and noticing agent.  Daniel H. Golden, Esq., Ira S. Dizengoff,
Esq., and Russel J. Reid, Esq., at Akin Gump Strauss Hauer &
Feld LLP represent the Official Committee of Unsecured
Creditors, and Derron S. Slonecker at Houlihan Lokey Howard &
Zukin Capital provides the Creditors' Committee with financial
advice.

On Feb. 14, 2006, the Debtors filed their Reorganization Plan &
Disclosure Statement.  On May 15, 2007, they filed an Amended
Reorganization Plan and on July 9, 2007, filed a 2nd Amended
Reorganization Plan.  The Disclosure Statement hearing began on
July 10, 2007, and is continued to Oct. 19, 2007.  (Solutia
Bankruptcy News, Issue No. 101; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


=============
D E N M A R K
=============


EASTMAN KODAK: Paying 25 Cents Per Share Dividend on Dec. 14
------------------------------------------------------------
Eastman Kodak Company's board of directors has declared a
semi-annual cash dividend of 25 cents per share on the
outstanding common stock of the company, payable Dec. 14, 2007,
to shareholders of record at the close of business on
Nov. 1, 2007.

Headquartered in Rochester, New York, Eastman Kodak Co. (NYSE:
EK)-- http://www.kodak.com/-- develops, manufactures, and
markets digital and traditional imaging products, services, and
solutions to consumers, businesses, the graphic communications
market, the entertainment industry, professionals, healthcare
providers, and other customers.

The company has operations in Argentina, Chile, Denmark, Greece,
Jordan, Yemen, Australia, China, India, among others.

As reported in the Troubled Company Reporter-Latin America on
Sept. 14, 2007, Standard & Poor's Ratings Services has affirmed
its 'B+' corporate credit rating on Eastman Kodak Co. and
removed the ratings from CreditWatch, where they had been placed
with negative implications on Aug. 2, 2006.  The outlook is
negative.


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


BOSTON SCIENTIFIC: To Reduce Workforce by 2,300 Worldwide
---------------------------------------------------------
Boston Scientific Corporation disclosed Wednesday several new
initiatives designed to enhance short- and long-term shareholder
value, including the restructuring or sale of several business
units, as well as substantial expense and head count reductions
intended to bring expenses in line with revenues.

The company also said it is making good progress toward the
execution of its previously announced plans to sell non-
strategic assets and monetize the majority of its public and
private investment portfolio.  The company said these
initiatives will help provide better focus on core businesses
and priorities, which will strengthen Boston Scientific for the
future and lead to increased, sustainable and profitable sales
growth.

The company plans to reduce its operating expenses, exclusive of
amortization and royalty expenses, against a 2007 baseline of
around US$4.1 billion by an estimated US$475 million to
US$525 million in 2008, representing a reduction of 12 to 13
percent, with a further reduction of an estimated US$25 million
to US$50 million in 2009.

The company plans to eliminate around 2,300 positions worldwide,
or around 13% of an 18,000-person, non-direct labor workforce
baseline as of June 30, 2007.  Eligible employees affected by
the head count reductions will be offered severance packages,
outplacement services and other appropriate assistance and
support.  The reduction activities will be initiated this month
and are expected to be substantially completed worldwide by the
end of 2008.  Reductions outside the United States will be
initiated following completion of information sharing and
consultations with required bodies.  In addition, another around
2,000 employees are expected to leave the company in connection
with the previously announced business divestitures.

The reductions will result in total pre-tax charges of around
US$450 million to US$475 million.  These mostly cash charges
will be recorded primarily as restructuring expenses, with a
portion recorded through other lines of the income statement.
Around US$275 million to US$300 million will be recorded in the
fourth quarter of 2007 with the remainder expected to be
recorded throughout 2008 and 2009.

The company plans to restructure several businesses and product
franchises in order to leverage resources, strengthen
competitive positions, and create a more simplified and
efficient business model.  Key components of the business
restructuring plan include:

   -- the Peripheral Interventions and Interventional Cardiology
      businesses will be combined under a single management
      structure to help create a more integrated business
      focused on interventional specialists, while enhancing
      technology and management efficiencies.

   -- the Electrophysiology business will be integrated with the
      Cardiac Rhythm Management business to better serve the
      needs of electrophysiologists by creating a more efficient
      organization.

   -- the Oncology business and its four franchises will be
      restructured.  Three will be integrated into other
      businesses within Boston Scientific, and the Oncology
      Venous Access franchise will be combined with the Fluid
      Management business.

   -- the company is actively seeking buyers for the combined
      Fluid Management/Oncology Venous Access business, as well
      as its Cardiac Surgery and Vascular Surgery businesses.
      The company has announced it has entered into a definitive
      agreement to sell its Auditory business.  Collectively,
      these businesses represent around US$550 million in
      2007 sales for Boston Scientific.

   -- the International group will be consolidated from three
      regions to two.  The existing three regions are: Europe,
      Asia Pacific/Japan, and Inter-Continental; the two new
      regions will be: Europe/Middle East/Africa, and
      Canada/Latin America/Asia Pacific/Japan.

"The expense and head count reductions we are announcing today
are intended to bring our expenses back in line with our
revenues, while preserving our ability to make investments in
quality, R&D, capital and our people that are essential to our
long-term success," said Jim Tobin, Boston Scientific president
and chief executive officer.  "While difficult, these reductions
are in the best interest of the company and will create greater
value for our customers and their patients, as well as for our
employees and shareholders.  These actions will enable us to
institute meaningful change that will create lasting benefits."

"We understand the impact these reductions will have on our
employees, and we are committed to helping ease the transition,"
said Tobin.  "We will treat everyone with respect and dignity,
and we will provide support to affected employees."

                     About Boston Scientific

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.


GOODYEAR TIRE: Conversion Period for Sr. Notes Ends Dec. 31
-----------------------------------------------------------
The Goodyear Tire & Rubber Company's 4% Convertible Senior Notes
due June 15, 2034, are now convertible at the option of the
holders and will remain convertible through Dec. 31, 2007, the
last business day of the current fiscal quarter.

The notes became convertible because the last reported sale
price of the company's common stock for at least 20 trading days
during the 30 consecutive trading-day period ending on Oct. 15,
2007 (the 11th trading day of the current fiscal quarter), was
greater than 120% of the conversion price in effect on such day.
The notes have been convertible in previous fiscal quarters.

The company will deliver shares of its common stock or pay
cash upon conversion of any notes surrendered on or prior to
Dec. 31, 2007.  If shares are delivered, cash will be paid in
lieu of fractional shares only.  Issued in June 2004, the notes
are currently convertible at a rate of 83.0703 shares of common
stock per US$1,000 principal amount of notes, which is equal to
a conversion price of US$12.04 per share.

There is around US$350 million in aggregate principal amount of
notes outstanding.

If all outstanding notes are surrendered for conversion, the
aggregate number of shares of common stock issued would be
around 29 million.  The notes could be convertible after
Dec. 31, 2007, if the sale price condition is met in any future
fiscal quarter or if any of the other conditions to conversion
set forth in the indenture governing the notes are met.

                        About Goodyear

Headquartered in Akron, Ohio, The Goodyear Tire & Rubber Company
(NYSE: GT) -- http://www.goodyear.com/-- is the world's largest
tire company.  The company manufactures tires, engineered rubber
products and chemicals in more than 90 facilities in 28
countries.  Goodyear Tire has marketing operations in almost
every country around the world including Kingdom.  Goodyear's
operations are located in Argentina, Austria, Chile, Colombia,
France, Italy, Guatemala, Jamaica, Peru, Russia, among others.
Goodyear employs more than 80,000 people worldwide.

                            *   *   *

As reported in the Troubled Company Reporter on June 4, 2007,
Standard & Poor's Ratings Services raised its ratings on
Goodyear Tire & Rubber Co., including its corporate credit
rating to 'BB-' from 'B+'.  In addition, the ratings were
removed from CreditWatch where they were placed with positive
implications on May 10, 2007. Recovery ratings were not on
CreditWatch.


XEROX CORP: Bags US$82-Million Contract with EUROPART
-----------------------------------------------------
Xerox Corporation won a seven-year, US$82 million document
management contract with EUROPART, Europe's leading commercial
vehicle parts distributor.  Xerox Global Services will manage
the German company's office and production print services,
invoice processing and customer service centers.

Xerox began the relationship by conducting a thorough assessment
of the company's document-intensive work processes.  The study
found that, in Germany alone, EUROPART employees print and
process more than 8 million pages a year from more than 600
printers, scanners and fax machines made and serviced by several
manufacturers.  Xerox will reduce the total number of devices by
nearly two-thirds to 232 networked multifunction systems,
boosting productivity and efficiency.  Ongoing service and
maintenance contracts will be consolidated to reduce costs.

In addition, Xerox Global Services will manage EUROPART's
customer service center, which receives more than 72,000
incoming calls from 20 different countries each year.  By
outsourcing this service, previously managed entirely at its
German location, EUROPART will offer more personalized and
regionalized customer communication in 17 languages.

"Our work with EUROPART is a sterling example of how Xerox can
tackle enterprise-wide challenges and transform business
processes," said Stephen Cronin, president, Xerox Global
Services.  "We look at how our customers do business, and then
find ways to help them work smarter, not harder.  Our work with
EUROPART supports this strategy."

                          About EUROPART

EUROPART is Europe's leading commercial vehicle parts
distributor with sales of EUR281 million.  The company employs
more than 1,300 at its headquarters in Hagen, Germany, and
further locations in Germany and abroad.  With nearly 90 sales
outlets in more than 20 countries, EUROPART customers consist of
more than 80,000 workshops, haulage contractors, and local
authorities.

                        About Xerox Corp.

Headquartered in Stamford, Connecticut, Xerox Corp. --
http://www.xerox.com/-- develops, manufactures, markets,
services and finances a range of document equipment, software,
solutions and services.  Xerox operates in over 160 countries
worldwide and distributes products in the Western Hemisphere
through divisions, wholly owned subsidiaries and third-party
distributors.  The company maintains operations in France,
Japan, Italy, Nicaragua, among others.

                          *     *     *

As reported in the Troubled Company Reporter on May 23, 2007,
Standard & Poor's Ratings Services revised its rating outlook on
Stamford, Connecticut-based Xerox Corp. to positive from stable.
Ratings on the company, including the 'BB+' long-term and 'B-1'
short-term corporate credit ratings, were affirmed.


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


ACM TOURISMUS: Claims Registration Ends November 6
--------------------------------------------------
Creditors of ACM Tourismus GmbH have until Nov. 6 to register
their claims with court-appointed insolvency manager Thomas
Heilmann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 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 Chemnitz
         Hall 27
         Fuerstenstrasse 21-23
         09130 Chemnitz
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Thomas Heilmann
         Barbarossastrasse 2
         09112 Chemnitz
         Germany
         Tel:(0371) 4330044
         Fax:(0371) 4330049
         Web site: http://www.Heilmann.LI/

The District Court of Chemnitz opened bankruptcy proceedings
against ACM Tourismus GmbH on Oct. 2.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         ACM Tourismus GmbH
         Attn: J.F. Alfonsus Cedee, Francisca A. Cedee, Managers
         Ludwig-Wuerkert-Strasse 1
         09405 Zschopau
         Germany


BERO WARMEVERSORGUNG: Claims Registration Ends November 6
---------------------------------------------------------
Creditors of Bero Warmeversorgung GmbH have until Nov. 6 to
register their claims with court-appointed insolvency manager
Herbert Feigl.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 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 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:

         Herbert Feigl
         Hansering 1, D
         06108 Halle
         Germany
         Tel: 0345/212220
         Fax: 0345/2122222

The District Court of Halle-Saalkreis opened bankruptcy
proceedings against Bero Warmeversorgung GmbH on Oct. 2.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Bero Warmeversorgung GmbH
         Attn: Benno Wrycz, Manager
         Langen Feld 39
         06130 Halle
         Germany


CHRYSLER LLC: Negotiator Urges UAW Leaders to Reject New Pact
-------------------------------------------------------------
Bill Parker, Chair of the 2007 UAW Chrysler National Negotiating
Committee, who voted against the new tentative labor agreement
between Chrysler LLC and the United Auto Workers union, released
a minority report to the members of the UAW Chrysler Council,
urging the Council to reject Chrysler’s offer and let the
Committee return to the bargaining table.

As reported in the Troubled Company Reporter on Oct. 16, 2007,
the UAW Chrysler Council, which includes local union leaders
from Chrysler LLC facilities throughout the U.S., voted
overwhelmingly to recommend ratification of the tentative
agreement reached on Oct. 10, 2007.

Mr. Parker, however, disclosed that the National Negotiating
Committee had a split vote on the contract.

                     GM-UAW Agreement

He enumerates his concerns with the General Motors Corp.
Agreement:

   a) The establishment of a two-tier wage and benefit package
      for the “entry level” employees.  Two tiers of workers
      create divisions within the union, pressure to reduce the
      top tier in the direction of the second tier and efforts
      to drive the second tier even lower.

   b) The division of our facilities into core and non-core
      jobs.  Many of the best jobs in the plants – currently
      held by high seniority employees -- will be filled in the
      future with entry level employees.

   c) The elimination of all janitors throughout the company.

   d) The eliminationof any general wage increase throughout
      the life of the agreement, along with cost of living
      allowance diversions to a degree never seen before.  In
      the worst years of the 1980s, workers always had at least
      one 3% raise.  The COLA diversions projected in the
      contract will far exceed the sum of all previous COLA
      diversions combined.

   e) A two-year limitation on receiving job bank funds if an
      open job exists anywhere in the company.  After that, a
      worker could be forced to move anywhere in the country to
      the open job, wherever it is.

   f) The failure to provide any sort of equality of sacrifice
      or to provide for a catch-up if the company turns around
      in the future.

                    Chrysler-UAW Agreement

Aside from the above concerns, Mr. Parker outlines additional
areas of concern:

   a) No Commitment Beyond Current Production

      Virtually no Chrysler plant received commitment beyond
      the scope of their new product, unlike the GM contract
      which committed to product past the current lifecycle
      being built today.  When GM locals seek to negotiate
      local agreements, they won't be confronted with the
      threat of no new product, because it is locked into their
      national agreement.  Unbelievably, the Chrysler agreement
      does not give workers the same protection.

      The GM agreement brought back to the U.S. several
      products slated for outsourcing.  Yet, the Chrysler
      contract failed at that.  Several of the next products
      will be built in Mexico, Canada or China.

   b) Four Facilities To Be 100% Entry Level

      The establishment of permanent two-tier relations will be
      a threat to the unity and solidarity within the union.
      But unlike  GM, Chrysler has facilities that are 100%
      entry level once traditional employees leave.  Those
      entry level employees won't have any place to move up for
      they will have signed for entry level wages for life.
      Under the tentative agreement, Toledo Machining,
      Marysville Axle, Chrysler Transport, and all Mopar
      facilities are those facilities.

   c) Reduced Seniority Opprotunities

      Classifications are being totally eliminated from
      production jobs on Smart teams.  In exchange for a few
      pennies per hour, members are giving up any
      classification variation for team members.

   d) No Roll-Over of Temporaries

     The GM agreement rolled over 3,000 temporary employees to
     permanent, full-time, traditional status.  At Chrysler,
     none were rolled-over.

   e) Added Costs for Retirees

     Pattern for Chrysler in 2007 also means accepting the 2005
     concessions made at GM and Ford Motor Co., meaning the
     dollar an hour active workers held on to will be eaten
     away by future COLA diversions (after the first ten cents
     is snatched each quarter).  In 2005 and 2006, this Council
     insisted that it wanted no health care costs passed on to
     retirees.

   f) Skilled Trades Issues

     The trades avoided many of the issues facing production;
     however, retiree pensions and benefits for new hires will
     be different than for traditional employees.  The effort
     to reduce the number of trades will continue through
     annual packages -- something not offered to production
     workers.  New, under this contract, is that skilled trades
     employees on layoff or in the job bank can be called to
     take open jobs in production, though they will kept their
     skilled wages.  Although, separate trades are protected
     under the “trades consolidation” language, the door is now
     open for management to expect one trade to do the work of
     other trades.

                       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 (B/Negative/--), including a 'BB-'
rating to the $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
$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
$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.


CLEAN IN THE CITY: Claims Registration Ends Nov. 5
--------------------------------------------------
Creditors of Clean in the City GmbH have until Nov. 5 to
register their claims with court-appointed insolvency manager
Ulrich Bastian.

Creditors and other interested parties are encouraged to attend
the meeting at 9:10 a.m. on Nov. 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 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:

         Ulrich Bastian
         Sendlinger Str. 46
         80331 Munich
         Germany
         Tel: 089/2603966
         Fax: 089/2609204

The District Court of Munich opened bankruptcy proceedings
against Clean in the City GmbH on Sept. 26.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Clean in the City GmbH
         Leopoldstr. 244
         80807 Munich
         Germany


EURO-TRANS TRANSPORTE: Creditors Must File Claims by November 9
---------------------------------------------------------------
Creditors of Euro-Trans Transporte und Speditions GmbH have
until Nov. 9 to register their claims with court-appointed
insolvency manager Fabio Algari.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on Nov. 27, 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 Hanau
         Area E03
         Engelhardstrasse 21
         63450 Hanau
         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:

         Fabio Algari
         Oppenheimer Landstrasse 3
         60594 Frankfurt
         Germany
         Tel: 069 6109160
         Fax: 069 61091616

The District Court of Hanau opened bankruptcy proceedings
against Euro-Trans Transporte und Speditions GmbH on Oct. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Euro-Trans Transporte und Speditions GmbH
         Alter Auheimer Weg 14
         63450 Hanau
         Germany


FLOWMEDICAL GMBH: Claims Registration Ends Nov. 2
-------------------------------------------------
Creditors of Flowmedical GmbH & Co. KG have until Nov. 2 to
register their claims with court-appointed insolvency manager
Ulrich Rosenkranz.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on Nov. 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 Schwerin
         Hall 7
         Demmlerplatz 14
         19053 Schwerin
         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:

         Ulrich Rosenkranz
         Osdorfer Landstr. 230
         22549 Hamburg
         Germany

The District Court of Schwerin opened bankruptcy proceedings
against Flowmedical GmbH & Co. KG on Oct. 4.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Flowmedical GmbH & Co. KG
         Holmer Berg 4
         23942 Dassow
         Germany


FUN TRADE: Claims Registration Ends Nov. 5
------------------------------------------
Creditors of Fun Trade Produktions GmbH have until Nov. 5 to
register their claims with court-appointed insolvency manager
Dr. Hubert Ampferl.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Dec. 19, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of 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. Hubert Ampferl
         Stahlstrasse 17
         90411 Nuremberg
         Germany
         Tel.: 0911/951285-0
         Fax: 0911/951285-10

The District Court of Nuremberg opened bankruptcy proceedings
against Fun Trade Produktions GmbH on Oct. 4.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Fun Trade Produktions GmbH
         Attn: Claus-Juergen Maier, Manager
         Roethensteig 5
         90408 Nuremberg
         Germany


INGENIEUR CONSULT: Claims Registration Period Ends Jan. 2
---------------------------------------------------------
Creditors of IC Ingenieur Consult Technische Gesamtplanung GmbH
have until Jan. 2, 2008, to register their claims with court-
appointed insolvency manager Holger Lessing.

Creditors and other interested parties are encouraged to attend
the meeting at 9:10 a.m. on Feb. 13, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Frankfurt (Main)
         Hall 2
         Building F
         Klingerstrasse 20
         60313 Frankfurt (Main)
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Dr. Holger Lessing
         Hanauer Landstrasse 287-289
         60314 Frankfurt (Main)
         Germany
         Tel: 069/15051300
         Fax: 069/15051400

The District Court of Frankfurt (Main) opened bankruptcy
proceedings against IC Ingenieur Consult Technische
Gesamtplanung GmbH on Oct. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         IC Ingenieur Consult Technische Gesamtplanung GmbH
         Homburger Landstr. 412
         60433 Frankfurt (Main)
         Germany


MEDIATRADE SYSTEMS: Creditors Must File Claims by November 9
------------------------------------------------------------
Creditors of Mediatrade Systems GmbH have until Nov. 9 to
register their claims with court-appointed insolvency manager
Manfred Gottschalk.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Dec. 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 Arnsberg
         Meeting Hall 328
         Eichholzstr. 4
         59821 Arnsberg
         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:

         Manfred Gottschalk
         Kirchender Dorfweg 14
         58313 Herdecke
         Germany

The District Court of Arnsberg opened bankruptcy proceedings
against Mediatrade Systems GmbH on Sept. 28.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Mediatrade Systems GmbH
         Langenwiedenweg 92
         59457 Werl
         Germany


MTR HAUSKONZEPTE: Creditors Must File Claims by November 9
----------------------------------------------------------
Creditors of MTR Hauskonzepte GmbH have until Nov. 9 to register
their claims with court-appointed insolvency manager
Klaus Pannen.

Creditors and other interested parties are encouraged to attend
the meeting at 2:00 p.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 Itzehoe
         Hall 2
         Theodor-Heuss-Platz 3
         25524 Itzehoe
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Klaus Pannen
         Jungfernstieg 51
         20354 Hamburg
         Germany

The District Court of Itzehoe opened bankruptcy proceedings
against MTR Hauskonzepte GmbH on Oct. 4.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         MTR Hauskonzepte GmbH
         Attn: Peter Kurtzke, Manager
         Doernbek 12
         24616 Brokstedt
         Germany


OV TREUHAND: Claims Registration Ends Nov. 1
--------------------------------------------
Creditors of OV Treuhand GmbH have until Nov. 1 to register
their claims with court-appointed insolvency manager Helmut
Gattermann.

Creditors and other interested parties are encouraged to attend
the meeting at 2:25 p.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 Husum
         Saal 4
         Theodor-Storm-Strasse 55
         Husum
         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:

         Helmut Gattermann
         Lehmweg 17
         20251 Hamburg
         Germany

The District Court of Husum opened bankruptcy proceedings
against OV Treuhand GmbH on Oct. 2.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         OV Treuhand GmbH
         Diekstraat 13
         25870 Norderfriedrichskoog
         Germany


PANO WASCH: Claims Registration Period Ends Oct. 31
---------------------------------------------------
Creditors of PANO Wasch- und Reinigungsbetriebe Bendzko & Eggers
GmbH have until Oct. 31 to register their claims with court-
appointed insolvency manager Gideon Boehm.

Creditors and other interested parties are encouraged to attend
the meeting at 10:25 a.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 Pinneberg
         Hall 3
         First Floor
         Bahnhofstrasse 17
         25421 Pinneberg
         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. Gideon Boehm
         Bachstrasse 85 a
         22083 Hamburg
         Germany

The District Court of Pinneberg opened bankruptcy proceedings
against PANO Wasch- und Reinigungsbetriebe Bendzko & Eggers GmbH
on Oct. 1.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         PANO Wasch- und Reinigungsbetriebe Bendzko
         & Eggers GmbH
         Attn: Philipp Eggers, Manager
         ABC-Str. 5 a
         22880 Wedel
         Germany


PBMG MBH: Claims Registration Ends November 6
---------------------------------------------
Creditors of pbmg mbH have until Nov. 6 to register their claims
with court-appointed insolvency manager Dr. Rudolf Dobmeier.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on Dec. 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 Weiden i.d.OPf.
         Hall 219/II
         Justice Building
         Ledererstrasse 9
         92637 Weiden
         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. Rudolf Dobmeier
         Dr. Gessler Str. 20
         93051 Regensburg
         Germany
         Tel: 0941/230391-0
         Fax: 0941/230391-20

The District Court of Weiden i.d.OPf. opened bankruptcy
proceedings against pbmg mbH on Oct. 4.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         pbmg mbH
         Brunnenstrasse 12
         92709 Moosbach
         Germany

         Attn: Rappl Johann, Manager
         Raiffeisenstrasse 21
         92709 Moosbach
         Germany


R & R BAU: Claims Registration Ends November 5
----------------------------------------------
Creditors of R & R Bau GmbH have until Nov. 5 to register their
claims with court-appointed insolvency manager Helgi Heumann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Dec. 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 Dresden
         Hall D132
         Olbrichtplatz 1
         01099 Dresden
         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:

         Helgi Heumann
         Koenigsbruecker Str. 31/33
         01099 Dresden
         Germany
         Web site: http://www.raheumann.de/

The District Court of Dresden opened bankruptcy proceedings
against R & R Bau GmbH on Oct. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         R & R Bau GmbH
         Attn: Hartmut Ringel and Uwe Rauschenbach, Managers
         Dreilindenstr. 1
         01662 Meissen
         Germany


SEAFOOD-HOUSE GMBH: Claims Registration Period Ends Nov. 1
----------------------------------------------------------
Creditors of Seafood-House GmbH have until Nov. 1 to register
their claims with court-appointed insolvency manager Walter
Broehan.

Creditors and other interested parties are encouraged to attend
the meeting at 10:40 a.m. on Nov. 22, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Luebeck
         Hall E3
         Am Burgfeld 7
         23568 Luebeck
         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:

         Walter Broehan
         Muehlenstrasse 56
         23552 Luebeck
         Germany

The District Court of Luebeck opened bankruptcy proceedings
against Seafood-House GmbH on Sept. 27.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Seafood-House GmbH
         Attn: Frau Carola Lichtenstein, Manager
         Aegidienstrasse 1 - 5
         23552 Luebeck
         Germany


VAN DE SANDT: Claims Registration Period Ends Nov. 23
-----------------------------------------------------
Creditors of van de Sandt Technologie- und Entwicklungs- GmbH
have until Nov. 23 to register their claims with court-appointed
insolvency manager Wolfgang Lorisch.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on Dec. 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 Muenster
         Meeting Hall 119 B
         Gerichtsstr. 2-6
         48149 Muenster
         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:

         Wolfgang Lorisch
         Kurt-Schumacher-Str. 48
         45699 Herten
         Germany
         Tel: 02366/10820
         Fax: +492366108282

The District Court of Muenster opened bankruptcy proceedings
against van de Sandt Technologie- und Entwicklungs- GmbH on Oct.
1.  Consequently, all pending proceedings against the company
have been automatically stayed.

The Debtor can be reached at:

         van de Sandt Technologie- und Entwicklungs- GmbH
         Arno van de Sandt, Manager
         Liebauweg 32
         46395 Bocholt
         Germany


WEIN- WIESSNER GMBH: Claims Registration Period Ends Oct. 30
------------------------------------------------------------
Creditors of Wein- Wiessner GmbH have until Oct. 30 to register
their claims with court-appointed insolvency manager Mathias
Cohrs.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 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 Reinbek
         Parkallee 6
         21465 Reinbek
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Mathias Cohrs
         Kreuzweg 2
         20099 Hamburg
         Germany

The District Court of Reinbek opened bankruptcy proceedings
against Wein- Wiessner GmbH on Oct. 2.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Wein- Wiessner GmbH
         Attn: Thorsten Wiessner, Manager
         Humboldstr. 21
         21509 Glinde
         Germany


WINKELMEYER VERWALTUNGS: Claims Registration Period Ends Oct. 30
----------------------------------------------------------------
Creditors of Winkelmeyer Verwaltungs-GmbH have until Oct. 30 to
register their claims with court-appointed insolvency manager
Andreas Pantlen.

Creditors and other interested parties are encouraged to attend
the meeting at 1:45 p.m. on Nov. 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 Siegen
         Hall 009
         Ground Floor
         Main Building
         Berliner Str. 21-22
         57072 Siegen
         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 Pantlen
         Koenigsallee 90
         40212 Duesseldorf
         Germany
         Tel: 0211/8606800
         Fax: 0211/8606810

The District Court of Siegen opened bankruptcy proceedings
against Winkelmeyer Verwaltungs-GmbH on Oct. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Winkelmeyer Verwaltungs-GmbH
         Attn: Olaf Pott, Manager
         Gerhart-Hauptmann-Str. 50
         57413 Finnentrop
         Germany


WITTE REISE: Claims Registration Period Ends Nov. 2
---------------------------------------------------
Creditors of Witte Reise, Tiefbau und Recycling GmbH have until
Nov. 2 to register their claims with court-appointed insolvency
manager Heiko Jaap.

Creditors and other interested parties are encouraged to attend
the meeting at 10:55 a.m. on Nov. 28, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Stralsund
         Hall A 421
         Fourth Floor
         House A
         Frankendamm 17
         Stralsund
         Germany

The Court will also verify the claims set out in the insolvency
manager's report during this meeting, while creditors may
constitute a creditors' committee or opt to appoint a new
insolvency manager.

The insolvency manager can be reached at:

         Heiko Jaap
         Steinbeckerstr. 10
         17489 Greifswald
         Germany

The District Court of Stralsund opened bankruptcy proceedings
against Witte Reise, Tiefbau und Recycling GmbH on Oct. 2.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Witte Reise, Tiefbau und Recycling GmbH
         Attn: Klaus Witte, Manager
         Zinnowitzer Str. 17a
         17449 Bannemin
         Germany


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


AES CORP: Commences Cash Tender Offer for US$1.24 Bln Sr. Notes
---------------------------------------------------------------
The AES Corporation has commenced a cash tender offer for up to
US$1.24 billion of its outstanding senior notes in accordance
with the terms and conditions described in its Offer to Purchase
dated Oct. 16, 2007.  The tender offer will expire at 12:00
p.m., on midnight, New York City time, on Nov. 13, 2007, unless
extended or earlier terminated.

The total consideration payable for each series of Notes will be
based on the yield to maturity of a specified U.S. Treasury
reference security, plus a fixed spread.

The three series of Notes subject to the tender offer, the
acceptance priority levels, the applicable U.S. Treasury
reference security for the Notes and the applicable fixed spread
are enumerated:

1) Title of Security: 8.75% Senior Notes due 2008
   CUSIP/ISIN Numbers:  00130HAV7
   Aggregate Principal Amount Outstanding: US$201,809,000
   Acceptance Priority Level: 1
   Maturity Date/Earliest Redemption Date: June 15, 2008(1)
   Par Amount/Earliest Redemption Price(2)(3): US$1,000.00
   Early Tender Premium(3): US$30.00
   Reference Security: US$5.125% U.S.T. Note due June 30,
   2008(2) Bloomberg Reference Page: PX3 Fixed Spread (basis
   points): +50

2) Title of Security: 9% 2nd Priority Sr. Sec. Notes due 2015
   CUSIP/ISIN Numbers: 00130HBB0, U0080RAG5
   Aggregate Principal Amount Outstanding: US$600,000,000
   Acceptance Priority Level: 2
   Maturity Date/Earliest Redemption Date: May 15, 2008(2)
   Par Amount/Earliest Redemption Price(2)(3): US$1,045.00
   Early Tender Premium(3): US$30.00
   Reference Security: US$5.625% U.S.T. Note due May 15, 2008
   Bloomberg Reference Page: PX3
   Fixed Spread (basis points): +50


3) Title of Security: 8.75% 2nd Priority Sr. Sec. Notes due
                      2013
   CUSIP/ISIN Numbers: 00130HBA2, U0080RAF7
   Aggregate Principal Amount Outstanding: US$1,200,000,000
   Acceptance Priority Level: 3
   Maturity Date/Earliest Redemption Date: May 15, 2008
   Par Amount/Earliest Redemption Price(2)(3): US$1,043.75
   Early Tender Premium(3): US$30.00
   Reference Security: US$5.625% U.S.T. Note due May 15, 2008
   Bloomberg Reference Page: PX3
   Fixed Spread (basis points): +50

1. The 2008 Notes mature on June 15, 2008 and may be redeemed
   at any time at a redemption price equal to par plus a
   "make-whole" premium, if any.

2. May 15, 2008 is the earliest date at which the 2013 Notes
   and the 2015 Notes may be redeemed at a redemption price
   equal to a specified percentage of the principal amount.
   Prior to May 15, 2008, the 2013 Notes and 2015 Notes may be
   redeemed at any time at a redemption price equal to par plus
   a "make-whole"  premium, if any.

3. Per US$1,000 principal amount of Notes that are accepted for
   purchase.

Holders tendering their Notes on or prior to 5:00 p.m., New York
City time, on Oct. 29, 2007, unless extended or earlier
terminated, will receive the total consideration, which includes
an early tender premium of US$30.00 per US$1,000 principal
amount of Notes purchased.  Holders that tender their Notes
after the Early Tender Time but prior to the Expiration Time
will receive the total consideration less the early tender
premium.

The company will pay the total consideration in respect of the
8.75% Senior Notes due 2008 and the 9.00% Second Priority Senior
Secured Notes due 2015 that have been validly tendered and not
withdrawn prior to the Early Tender Time and accepted for
purchase by the company on Oct. 30, 2007.

The company will pay

  (i) the total consideration for any 8.75% Second Priority
      Senior Secured Notes due 2013 that were validly tendered
      and not withdrawn prior to the Early Tender Time and
      accepted for purchase by AES; and

(ii) the Tender Offer Consideration for any Notes that were
      validly tendered and not withdrawn after the Early Tender
      Time and prior to the Expiration Time and accepted for
      purchase by the company on Nov. 14, 2007.

In addition, in all cases, holders will receive accrued interest
from the last interest payment date for such series of Notes to,
but not including, the Early Settlement Date or the Final
Settlement Date, as applicable.

AES may increase or modify the Tender Cap subject to applicable
law, depending on the principal amount of Notes validly tendered
and not withdrawn without extending withdrawal rights to
Holders.  If the aggregate principal amount of Notes validly
tendered and not withdrawn at the Expiration Time exceeds the
Tender Cap, the company will (subject to the terms and
conditions of the offer) limit the Notes it accepts pursuant to
the Tender Cap and in accordance with the acceptance priority
levels as set forth in the Offer to Purchase.

Since the 8.75% Senior Notes due 2008 and the 9.00% Second
Priority Senior Secured Notes due 2015 have an acceptance
priority level of 1 and 2, respectively, and the aggregate
principal amount of the 8.75% Senior Notes due 2008 and the
9.00% Second Priority Senior Secured Notes due 2015 combined is
less than the Tender Cap, neither the 8.75% Senior Notes due
2008 nor the 9.00% Second Priority Senior Secured Notes due 2015
will be subject to proration; only the 8.75% Second Priority
Senior Secured Notes due 2013 will be subject to proration.

Except as set forth in AES's Offer to Purchase or as required by
applicable law, Notes tendered prior to 5:00 p.m., New York City
time, on Oct. 29, 2007, unless extended by AES in its sole
discretion may only be withdrawn in writing before the
Withdrawal Deadline, and Notes tendered after the Withdrawal
Deadline but prior to the Expiration Time may not be withdrawn.

The tender offer is conditioned on the satisfaction of certain
conditions.  If any of the conditions are not satisfied, AES is
not obligated to accept for payment, purchase or pay for, and
may delay the acceptance for payment of, any tendered Notes, in
each event, subject to applicable laws, and may even terminate
the tender offer.

Citi is the Dealer Manager for the tender offer.  Global
Bondholder Services Corporation is acting as the Information
Agent and Wells Fargo Bank, National Association is acting as
the Depository.  The offer is made only by an Offer to Purchase
dated Oct. 16, 2007, and the information in this news release is
qualified by reference to the Offer to Purchase.  Persons with
questions regarding the offer should contact the Dealer Manager,
toll-free at (800) 558-3745 or collect at (212) 723-6106.
Requests for documentation may be directed to the Information
Agent, toll-free at (866) 294-2200.

                     About AES Corporation

Headquartered in Arlington, Virginia, AES Corporation (NYSE:
AES) -- http://www.aes.com/-- is a power company is a holding
company that through its subsidiaries, operates a portfolio of
electricity generation and distribution businesses in 28
countries on five continents.  The company's employs 30,000
people.  It operates two types of businesses.  The distribution
business, which it refers to as Utilities and the generation
business, where it sells power to wholesale customers, such as
utilities or other intermediaries.  In addition to its
traditional generation and distribution operations, it is also
developing an alternative energy business.  During the year
ended Dec. 31, 2006, it operated in seven segments, which
include Latin America Generation, Latin America Utilities, North
America Generation, North America Utilities, Europe & Africa
Generation, Europe & Africa Utilities and Asia Generation.

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.

                            *   *   *

As reported in the Troubled Company Reporter on Oct. 12, 2007,
Moody's Investors Service affirmed The AES Corporation's
Corporate Family Rating at B1 and the senior unsecured rating
assigned to its new senior unsecured notes offering at B1
following its upsizing to US$2 billion from US$500 million.

Fitch Ratings assigned a 'BB/RR1' rating to AES Corporation's
US$2 billion issuance of senior unsecured notes maturing 2015
and 2017.  AES' long-term Issuer Default Rating is rated 'B+' by
Fitch.  Fitch said the rating outlook is stable.


AES CORP: May Use Bond Proceeds to Buy 49.99% Brasiliana Stake
--------------------------------------------------------------
The AES Corp. said in a statement that it could use up to
US$600 million from the placement of senior unsecured notes to
fund the acquisition of a 49.99% stake in Brazilian power
holding firm Brasiliana.

As reported in the Troubled Company Reporter-Latin America on
Sept. 12, 2007, Banco Nacional de Desenvolvimento Economico e
Social SA, along with The AES Corp., will hire an independent
auditor to appraise Brazilian power holding firm Brasiliana's
value.  Banco Nacional wants to sell its 49.99% stake in
Brasiliana, where AES holds 50.01%.

BNamericas relates that AES has the first right to purchase the
stake.

According to BNamericas, AES priced the private placement of
senior unsecured notes consisting of US$500-million principal
amount of 7.75% senior notes due 2015 and US$1.5-billion
principal amount of 8% senior notes due 2017.

AES commented to BNamericas, "The company intends to use the net
proceeds from the sale of the senior notes primarily to
refinance a portion of its recourse debt."

BNamericas notes that the placement could help finance AES'
investments in these countries:

         -- Philippines,
         -- South Africa, and
         -- Northern Ireland.

According to BNamericas, these Brazilian power firms are
considering purchasing the stake:

         -- EDB,
         -- Cemig, and
         -- CPFL Energia.

                       About Banco Nacional

Banco Nacional de Desenvolvimento Economico e Social is Brazil's
national development bank.  It provides financing for projects
within Brazil and plays a major role in the privatization
programs undertaken by the federal government.

                     About AES Corporation

Headquartered in Arlington, Virginia, AES Corporation (NYSE:
AES) -- http://www.aes.com/-- is a power company is a holding
company that through its subsidiaries, operates a portfolio of
electricity generation and distribution businesses in 28
countries on five continents.  The company's employs 30,000
people.  It operates two types of businesses.  The distribution
business, which it refers to as Utilities and the generation
business, where it sells power to wholesale customers, such as
utilities or other intermediaries.  In addition to its
traditional generation and distribution operations, it is also
developing an alternative energy business.  During the year
ended Dec. 31, 2006, it operated in seven segments, which
include Latin America Generation, Latin America Utilities, North
America Generation, North America Utilities, Europe & Africa
Generation, Europe & Africa Utilities and Asia Generation.

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.

                            *   *   *

As reported in the Troubled Company Reporter on Oct. 12, 2007,
Moody's Investors Service affirmed The AES Corporation's
Corporate Family Rating at B1 and the senior unsecured rating
assigned to its new senior unsecured notes offering at B1
following its upsizing to US$2 billion from US$500 million.

Fitch Ratings assigned a 'BB/RR1' rating to AES Corporation's
US$2 billion issuance of senior unsecured notes maturing 2015
and 2017.  AES' long-term Issuer Default Rating is rated 'B+' by
Fitch.  Fitch said the rating outlook is stable.


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


RITCHIE IRELAND: Exclusive Plan Filing Period Moved to Jan. 16
--------------------------------------------------------------
The United States Bankruptcy Court for the Southern District of
New York further extended Ritchie Risk-Linked Strategies Trading
(Ireland) Ltd. and Ritchie Risk-Linked Strategies Trading
(Ireland) II, Ltd.'s exclusive periods to:

   -- file a plan until Jan. 16, 2008; and

   -- solicit acceptances of that plan until March 17, 2008.

As reported in the Troubled Company Reporter on Oct. 8, 2007,
the Debtors' exclusive period to file a plan expired today,
Oct. 18, 2007.

The Debtors reminded the Court that their bankruptcy cases
commenced only three months ago, and since that time, they
have implemented first day relief, each secured post-petition
financing, and have commenced a process for the sale of a pool
of life settlement policies, which constitutes all or
substantially all of their assets.

According to the Debtors, an extension of their exclusive
periods is both necessary and appropriate to permit them to
consummate the next stage in the administration of their cases.

"[T]he Debtors have done much in these cases in a relatively
short period of time. . . . [n]evertheless, given the complexity
of these cases, much work remains to be done, including
completion of the sale of [the Debtors' insurance] [p]olicies,
before [they] can propose a viable plan," Lewis S. Rosenbloom,
Esq., at Dewey & LeBoeuf LLP says.

Based in Dublin, Ireland, Ritchie Risk-Linked Strategies Trading
(Ireland) Ltd. and Ritchie Risk-Linked Strategies Trading
(Ireland) II Ltd. -- http://www.ritchiecapital.com/-- are
Dublin-based funds of hedge fund group Ritchie Capital
Management LLC.  The Debtors were formed as special purpose
vehicles to invest in life insurance policies in the life
settlement market.  The Debtors filed for Chapter 11 protection
on June 20, 2007 (Bankr. S.D.N.Y. Case Nos. 07-11906 and 07-
11907).  Allison H. Weiss, Esq., David D. Cleary, Esq., and
Lewis S. Rosenbloom, Esq., at LeBoeuf, Lamb, Greene & MacRae,
LLP represent the Debtors in their restructuring efforts.  No
Official Committee of Unsecured Creditors has been appointed to
date.  When the Debtors filed for bankruptcy, they listed
estimated assets and debts of more than US$100 million.


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


PARMALAT SPA: Settles Case Against Banca Ifis for EUR2 Million
--------------------------------------------------------------
Parmalat S.p.A communicates that a settlement has been reached
with Banca Ifis S.p.A. whereby all current and potential claims
by the parties originating from dealings that took place in the
period prior to Parmalat's being placed into Extraordinary
Administration, have been amicably resolved.

Parmalat communicates, accordingly, that its revocatory action
against Banca Ifis has been settled with restitution by Banca
Ifis of an amount of EUR2 million and its agreement not to file
the unsecured claim arising from the returned payment in the
list of Parmalat's creditors.

                          About Parmalat

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
for bankruptcy protection, they reported more than US$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
===================


AKSURAN-2002 LLP: Proof of Claim Deadline Slated for Nov. 21
------------------------------------------------------------
The Specialized Inter-Regional Economic Court of North
Kazakhstan has declared LLP Aksuran-2002 insolvent on Sept. 4.

Creditors have until Nov. 21 to submit written proofs of claims
to:

         Department of Agriculture
         Konstitutsiya Kazakhstana Str. 38
         Petropavlovsk
         North Kazakhstan
         Kazakhstan


DERIBSAL LLP: Creditors Must File Claims Nov. 21
------------------------------------------------
The Specialized Inter-Regional Economic Court of North
Kazakhstan has declared LLP Deribsal insolvent on Sept. 4.

Creditors have until Nov. 21 to submit written proofs of claims
to:

         Department of Agriculture
         Konstitutsiya Kazakhstana Str. 38
         Petropavlovsk
         North Kazakhstan
         Kazakhstan


ENERGOTRUST LLP: Claims Filing Period Ends Nov. 23
--------------------------------------------------
The Specialized Inter-Regional Economic Court of Pavlodar has
declared LLP Firm Energotrust insolvent.

Creditors have until Nov. 23 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of Pavlodar
         Pobeda ave. 5
         Pavlodar
         Kazakhstan
         Tel: 8 (3182) 32-38-46


EQUIPMENT GROUP: Creditors' Claims Due on Nov. 23
-------------------------------------------------
LLP Equipment Group (RNN 600800508222} has declared insolvency.
Creditors have until Nov. 23 to submit written proofs of claims
to:

         LLP Equipment Group (RNN 600800508222}
         Kotelnikov Str. 50
         Turksibsky District
         Almaty
         Kazakhstan


GLOBAL-A LLP: Claims Registration Ends Nov. 20
----------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan has declared LLP Global-A insolvent on Sept. 4.

Creditors have until Nov. 20 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of South Kazakhstan
         Ilyaev Str. 24
         Shymkent
         South Kazakhstan
         Kazakhstan


KAZAKHSKY GUMANITARNY: Creditors Must File Claims Nov. 23
---------------------------------------------------------
Branch of OJSC Kazakhsky Gumanitarny-Uridichesky Universitet in
Pavlodar has declared insolvency.  Creditors have until Nov. 23
to submit written proofs of claims to:

         Branch of OJSC Kazakhsky
         Gumanitarny-Uridichesky Universitet
         Toraigyrov Str. 58
         Pavlodar
         Kazakhstan


MEDITSINSKY CENTRE: Claims Filing Period Ends Nov. 20
-----------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan has declared LLP Meditsinsky Centre insolvent on
Sept. 4.

Creditors have until Nov. 20 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of South Kazakhstan
         Ilyaev Str. 24
         Shymkent
         South Kazakhstan
         Kazakhstan


MEHANOMONTAGE OJSC: Creditors' Claims Due on Nov. 23
----------------------------------------------------
Branch of OJSC Mehanomontage in Almaty has declared insolvency.
Creditors have until Nov. 23 to submit written proofs of claims
to:

         Branch of OJSC Mehanomontage
         First Kilometer
         Ilyiskoye High Way
         Almaty
         Kazakhstan
         Tel: 8 (3272) 35-89-37
              8 (3272) 35-69-77


NESTLE ROSSIYA: Claims Registration Ends Nov. 23
------------------------------------------------
Representation of LLP Nestle Rossiya in Republic of Kazakhstan
has declared closure.  Creditors have until Nov. 23 to submit
written proofs of claims to:

         Representation of LLP Nestle Rossiya
         Micro District “Samal-2”, 97
         Almaty
         Kazakhstan


NORDIC ALUMINIUM: Proof of Claim Deadline Slated for Nov. 23
------------------------------------------------------------
LLP Nordic Aluminium Kz has declared insolvency.  Creditors have
until Nov. 23 to submit written proofs of claims to:

         LLP Nordic Aluminium Kz
         Seyfullin Str. 63/2 (201)
         Astana
         Kazakhstan


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


FUND FOR SOCIAL-ECONOMIC DEVELOPMENT: Claims Filing Ends Nov. 21
----------------------------------------------------------------
Institution Fund for Social-Economic Development Support in
Central Asia has declared insolvency.

Creditors have until Nov. 21 to submit written proofs of claim
to:

         Fund for Social-Economic Development Support
         in Central Asia
         Sovetskaya Str. 227
         Bishkek
         Kyrgyzstan


===================
L U X E M B O U R G
===================


EVRAZ GROUP: Steel Output Drops 16% for Third Quarter 2007
----------------------------------------------------------
Evraz Group S.A. has released its operational results for the
third quarter of 2007.

Production Volumes
Product, '000 tons

                        3Q 2007     3Q 2006    % change
Steel Division
   Pig iron               2,761       3,288      (16.0)
   Crude steel            3,676       4,013       (8.4)
   Rolled products        3,473       3,721       (6.7)
      Semi-finished         620       1,564      (60.4)
      Construction        1,223       1,124        8.8
      Railway products      563         427       31.7
      Flat-rolled           597         407       46.7
      Tubular products      124           5
      Other steel           334         195       71.5

Mining Division
   Iron ore (saleable)
      Concentrate           923         631       46.2
      Sinter              1,914       2,265      (15.5)
      Pellets             1,439       1,482       (2.9)
   Coal
      Coking coal (mined) 1,352         179      653.8
      Steam coal (mined)  1,319          29        n/a
      Concentrate           784         n/a

Vanadium (tons)
      Vanadium in slag
         (saleable)       2,919       2,970       (1.7)
      Vanadium in alloys
         and chemicals    3,069         378      712.1

                         About Evraz

Headquartered in Luxembourg, Evraz Group S.A. (LSE:EVR) --
http://www.evraz.com/-- manufactures and distributes steel and
related products.  In addition, the Company owns and operates
certain mining assets.  Its steel production and mining
facilities are mainly located in the Russian Federation.  It
operates three steel mills in Russia, one mill in the Sverdlovsk
region and two mills in the Kemerovo region.

                           *   *   *

As reported in the TCR-Europe on July 23, 2007, Fitch Ratings
affirmed Evraz Group S.A.'s Long-term Issuer Default and senior
unsecured ratings at 'BB' and its Short-term IDR at 'B'.

At the same time, Fitch has affirmed the ratings of Mastercroft
Ltd., a 100%-owned subsidiary of Evraz that controls the group's
Russia-based assets, at Long-term IDR 'BB' and Short- term IDR
'B'.  Evraz Securities S.A.'s senior unsecured rating is
affirmed at 'BB'.  The Outlooks on the Long-term IDRs are
Stable.

Evraz Group also carries a Ba3 Corporate Family Rating for Evraz
Group S.A. and a Ba3 Probability-of-Default Rating from Moody's
Investor Service.

Moody's also assigned these ratings:

* Issuer: Evraz Group S.A.

                                                    Projected
                         Old Debt New Debt LGD      Loss-Given
  Debt Issue             Rating   Rating   Rating   Default
  ----------             -------  -------  ------   -------

  8.25% Senior Unsecured
  Regular Bond/
  Debenture Due 2015      B2        B2      LGD5     88%

* Issuer: Evraz Securities S.A.

                         Old Debt New Debt LGD      Loss Given
  Debt Issue             Rating   Rating   Rating   Default
  ----------             -------  -------  ------   -------

  10.875% Senior Unsecured
  Regular Bond/
  Debenture Due 2009      B1       Ba3      LGD3     47%

In November 2006, Fitch Ratings affirmed Luxembourg-based Evraz
Group S.A.'s Issuer Default and senior unsecured ratings at BB
and its Short-term rating at B.

Standard & Poor's rated Evraz Group's 8-1/4% notes due November
2015 at B+.


=====================
N E T H E R L A N D S
=====================


GLOBAL POWER: Exclusive Plan-Filing Period Extended to Oct. 24
--------------------------------------------------------------
The Hon. Brendan Linehan Shannon of the U.S. Bankruptcy Court
for the District of Delaware issued a sixth bridge order
extending Global Power Equipment Group Inc. and its debtor-
affiliates' exclusive period to file a chapter 11 plan of
reorganization to Oct. 24, 2007.  Judge Shannon also extended
the Debtors' exclusive period to solicit acceptances of that
plan to Dec. 24, 2007.

Headquartered in Oklahoma, Global Power Equipment Group Inc.
(Pink Sheets: GEGQQ) -- http://www.globalpower.com/-- is a
design, engineering and manufacturing firm providing an array of
equipment and services to the energy, power infrastructure and
process industries.  The company designs, engineers and
manufactures a comprehensive portfolio of equipment for gas
turbine power plants and power-related equipment for industrial
operations, and has over 40 years of power generation industry
experience.  The company's equipment is installed in power
plants and in industrial operations in more than 40 countries on
six continents.  In addition, the company provides routine and
specialty maintenance services to nuclear, coal-fired, fossil,
and hydroelectric power plants and other industrial operations.

The company has facilities in Plymouth, Minnesota; Tulsa,
Oklahoma; Auburn, Massachusetts; Atlanta, Georgia; Monterrey,
Mexico; Shanghai, China; Nanjing, China; and Heerleen, The
Netherlands.

The company filed for chapter 11 protection on Sept. 28, 2006
(Bankr. D. Del. Case No. 06-11045).  Thomas E. Lauria, Esq.,
Matthew C. Brown, Esq., Gerard Uzzi, Esq., John Cunningham,
Esq., and Frank Eaton, Esq., at White & Case LLP; and Jeffrey M.
Schlerf, Esq., Eric M. Sutty, Esq., and Mary E. Augustine, Esq.,
at The Bayard Firm, represent the Debtors.  Kurtzman Carson
Consultants LLC acts as the Debtors' noticing and claims agent.
At Oct. 31, 2006, Global Power's balance sheet showed total
assets of US$177,758,000 and total debts of US$99,017,000

Jeffrey S. Sabin, Esq., and David M. Hillman, Esq., at Schulte
Roth & Zabel LLP; and Adam G. Landis, Esq., and Kerri K.
Mumford, Esq., at Landis Rath & Cobb LLP, represent the Official
Committee of Unsecured Creditors.  The Official Committee of
Equity Security Holders is represented by Howard L. Siegel,
Esq., and Steven D. Pohl, Esq., at Brown Rudnick Berlack Israels
LLP.


GLOBAL POWER: Wants Court to Approve Plan Support Agreement
-----------------------------------------------------------
Global Power Equipment Group Inc. and its debtor-affiliates ask
the U.S. Bankruptcy Court for the District of Delaware to
approve an agreement in support of the Debtors' Joint Chapter 11
plan of Reorganization.

The agreement was entered into by the Debtors, the Official
Committee of Unsecured Creditors, the Official Committee of
Equity Security Holders, and holders of 100% of Global Power's
4.25% Convertible Senior Subordinated Notes.

The Debtors relate that the Plan Support Agreement contemplates
and provides the basis for the Parties' support for confirmation
and consummation of the Plan and is based on a rights offering
on private placement of up to US$90 million.  The proceeds of
which, the Debtors say, will be used to fund the Plan.  The
rights offering and private placement will be memorialized in a
Backstop Stock Purchase Agreement, the Debtors add.

The Court has set a hearing for October 24 to consider the
Debtors' request.

                       About Global Power

Headquartered in Oklahoma, Global Power Equipment Group Inc.
(Pink Sheets: GEGQQ) -- http://www.globalpower.com/-- is a
design, engineering and manufacturing firm providing an array of
equipment and services to the energy, power infrastructure and
process industries.  The company designs, engineers and
manufactures a comprehensive portfolio of equipment for gas
turbine power plants and power-related equipment for industrial
operations, and has over 40 years of power generation industry
experience.  The company's equipment is installed in power
plants and in industrial operations in more than 40 countries on
six continents.  In addition, the company provides routine and
specialty maintenance services to nuclear, coal-fired, fossil,
and hydroelectric power plants and other industrial operations.

The company has facilities in Plymouth, Minnesota; Tulsa,
Oklahoma; Auburn, Massachusetts; Atlanta, Georgia; Monterrey,
Mexico; Shanghai, China; Nanjing, China; and Heerleen, The
Netherlands.

The company filed for chapter 11 protection on Sept. 28, 2006
(Bankr. D. Del. Case No. 06-11045).  Thomas E. Lauria, Esq.,
Matthew C. Brown, Esq., Gerard Uzzi, Esq., John Cunningham,
Esq., and Frank Eaton, Esq., at White & Case LLP; and Jeffrey M.
Schlerf, Esq., Eric M. Sutty, Esq., and Mary E. Augustine, Esq.,
at The Bayard Firm, represent the Debtors.  Kurtzman Carson
Consultants LLC acts as the Debtors' noticing and claims agent.
At Oct. 31, 2006, Global Power's balance sheet showed total
assets of US$177,758,000 and total debts of US$99,017,000

Jeffrey S. Sabin, Esq., and David M. Hillman, Esq., at Schulte
Roth & Zabel LLP; and Adam G. Landis, Esq., and Kerri K.
Mumford, Esq., at Landis Rath & Cobb LLP, represent the Official
Committee of Unsecured Creditors.  The Official Committee of
Equity Security Holders is represented by Howard L. Siegel,
Esq., and Steven D. Pohl, Esq., at Brown Rudnick Berlack Israels
LLP.


KONINKLIJKE AHOLD: Court Orders Release of Settlement Payouts
-------------------------------------------------------------
The United States District Court for the District of Maryland,
issued an order on Oct. 3 authorizing Lead Counsel and the
Claims Administrator to begin making Settlement payments to
Class Members of the class action against Royal Ahold N.V. (nka
Koninklijke Ahold N.V.) in the U.S.

The Claims Administrator is working with a large financial
institution in the Netherlands to make payments to Dutch Class
Members by electronic funds transfer.  Once these processes are
completed, the settlement payments will commence.

The financial institution in the Netherlands estimates that
these processes will be completed around four weeks.  Contrary
to a recent report in the Dutch media, no delay is anticipated.

As Lead Counsel and the Claims Administrator prepare to make
payments to Class Members, claimants, particularly those in the
Netherlands, are reminded that questions concerning the
Settlement may be directed to the Claims Administrator in the
United States by email: Questions@AholdSettlement.com or by
telephone to the international call center toll-free at 001-800-
1020- 4060 or at 001-941-906-4864.

The best time for Dutch claimants to call is between 8:00 a.m.
and 6:00 p.m. CET.  The Claims Adminstrator is prepared to
answer your questions in Dutch or in English.

The suit "In re Royal Ahold N.V. Securities & ERISA Litigation"
is before Judge Catherine C. Blake of the U.S. District Court
for the District of Maryland.

                        Case Background

The lawsuit stems from a 2003 accounting scandal that forced the
company to restate earnings by US$1.1 billion over three years.
Most of the problems were related to inflated earnings at the
company's U.S. Foodservice subsidiary in Columbia.  It alleged
that Ahold N.V. misled investors by presenting an inaccurate
financial picture of the company to stockholders and inflating
the price of its common stock.

It alleged claims against Ahold and Ahold USA, Inc., Ahold USA
Holdings, Inc., U.S. Foodservice, Inc., Cees Van der Hoeven,
Michiel Meurs, Henny de Ruiter, Cor Boonstra, James L. Miller,
Mark Kaiser, Michael Resnick, Tim Lee, Robert G. Tobin, William
J. Grize, Roland Fahlin, Jan G. Andreae, ABN AMRO Rothschild,
Goldman Sachs International, Merrill Lynch International, ING
Bank N.V., Rabo Securities N.V., and Kempen & Co. N.V. based
upon the matters that Ahold first announced on Feb. 24, 2007.

The settlement of the suit covers Ahold, its subsidiaries and
affiliates, the individual defendants and the underwriters.

It resolves all securities law claims against Ahold, and all
other defendants, other than Deloitte & Touche entities.  The
settlement is global in nature and is designed to provide a
recovery to all persons who purchased Ahold common stock and/or
American Depository Receipts from July 30, 1999, through
Feb. 23, 2003, regardless of where such persons live or
purchased their Ahold shares.

The settlement must be approved by at least 180 million shares
from about 800 million qualifying shares.  The average payment
is estimated to be US$1.51 per Fund A share and 40 cents per
share for Fund B shares, according to court documents.  Claims
are to be made about 12 months after the court's final approval
(Class Action Reporter, Jan. 10, 2006).  The company denies
any wrongdoing in the settlement.

                          About Ahold

Headquartered in Amsterdam, Koninklijke Ahold N.V. (fka Royal
Ahold) -- http://www.ahold.com/-- retails food through
supermarkets, hypermarkets and discount stores in North and
South America, Europe.  It has operations in Argentina.  The
company's chain stores include Stop & Shop, Giant, TOPS, Albert
Heijn and Bompreco.  Ahold also supplies food to restaurants,
hotels, healthcare institutions, government facilities,
universities, stadiums, and caterers.

                            *   *   *

In a TCR-Europe report on May 11, 2007, Moody's Investors
Service placed the Ba1 Corporate Family Rating and the Ba1
Senior Unsecured Long-Term Rating of Koninklijke Ahold N.V. on
review for possible upgrade.

The action follows the company's announcement that it has
agreed to the disposal of its U.S. Foodservice business to
private equity funds for US$7.1 billion.

As reported in the TCR-Europe on May 7, 2007, Fitch Ratings
upgraded the Issuer Default and senior unsecured ratings of
Royal Ahold N.V. (nka Koninklijke Ahold N.V.) to 'BB+' from
'BB'.  The Outlook on the Issuer Default rating remains
Positive.  Its Short-term rating is affirmed at 'B'.


KONINKLIJKE AHOLD: Reacquires Own Shares for EUR43.36 Million
-------------------------------------------------------------
Koninklijke Ahold N.V. has repurchased 4,031,815 of its own
common shares in the period from Oct. 8, 2007, up to and
including Oct. 12, 2007.

Shares were repurchased at an average price of EUR10.75 per
share for a total amount of EUR43.36 million.  These repurchases
were made as part of the EUR1 billion share buyback program
announced on Aug. 30, 2007.

The total number of shares repurchased under this program to
date is 57,687,280 common shares for a total consideration of
EUR600 million.

                          About Ahold

Headquartered in Amsterdam, Koninklijke Ahold N.V. (fka Royal
Ahold) -- http://www.ahold.com/-- retails food through
supermarkets, hypermarkets and discount stores in North and
South America, Europe.  It has operations in Argentina.  The
company's chain stores include Stop & Shop, Giant, TOPS, Albert
Heijn and Bompreco.  Ahold also supplies food to restaurants,
hotels, healthcare institutions, government facilities,
universities, stadiums, and caterers.

                            *   *   *

In a TCR-Europe report on May 11, 2007, Moody's Investors
Service placed the Ba1 Corporate Family Rating and the Ba1
Senior Unsecured Long-Term Rating of Koninklijke Ahold N.V. on
review for possible upgrade.

The action follows the company's announcement that it has
agreed to the disposal of its U.S. Foodservice business to
private equity funds for US$7.1 billion.

As reported in the TCR-Europe on May 7, 2007, Fitch Ratings
upgraded the Issuer Default and senior unsecured ratings of
Royal Ahold N.V. (nka Koninklijke Ahold N.V.) to 'BB+' from
'BB'.  The Outlook on the Issuer Default rating remains
Positive.  Its Short-term rating is affirmed at 'B'.


KONINKLIJKE AHOLD: Sells Tops Market to Morgan Stanley
------------------------------------------------------
Koninklijke Ahold N.V. has reached an agreement on the sale of
Tops Markets LLC to Morgan Stanley Private Equity in a
transaction valued at US$310 million.

The final purchase price is subject to customary price
adjustments.  Closing of the transaction is expected in the
fourth quarter of this year subject to the fulfillment of
customary closing conditions, including receipt of regulatory
approvals and a financing condition.  Capitalized lease
obligations will remain with Tops although Ahold will retain
contingent liability for the majority of these lease
obligations.

The divestment of Tops is part of Ahold's strategic review
announced in November 2006.

Tops operates stores in western New York, mid-state New York
including the Rochester area, and northwestern Pennsylvania
under the banners of Tops Markets and Martin's Super Food
Stores.  Tops employs around 10,000 full- and part-time
associates.

                          About Ahold

Headquartered in Amsterdam, Koninklijke Ahold N.V. (fka Royal
Ahold) -- http://www.ahold.com/-- retails food through
supermarkets, hypermarkets and discount stores in North and
South America, Europe.  It has operations in Argentina.  The
company's chain stores include Stop & Shop, Giant, TOPS, Albert
Heijn and Bompreco.  Ahold also supplies food to restaurants,
hotels, healthcare institutions, government facilities,
universities, stadiums, and caterers.

                            *   *   *

In a TCR-Europe report on May 11, 2007, Moody's Investors
Service placed the Ba1 Corporate Family Rating and the Ba1
Senior Unsecured Long-Term Rating of Koninklijke Ahold N.V. on
review for possible upgrade.

The action follows the company's announcement that it has
agreed to the disposal of its U.S. Foodservice business to
private equity funds for US$7.1 billion.

As reported in the TCR-Europe on May 7, 2007, Fitch Ratings
upgraded the Issuer Default and senior unsecured ratings of
Royal Ahold N.V. (nka Koninklijke Ahold N.V.) to 'BB+' from
'BB'.  The Outlook on the Issuer Default rating remains
Positive.  Its Short-term rating is affirmed at 'B'.


===============
P O R T U G A L
===============


BEARINGPOINT INC: Taps Rick Martino as Executive VP of Global HR
----------------------------------------------------------------
BearingPoint Inc. has appointed Rick Martino as executive vice
president of Global Human Resources.

Mr. Martino has more than 25 years of experience leading and
transforming Human Resources programs.  Mr. Martino joins
BearingPoint from the March of Dimes Foundation, a not-for-
profit organization dedicated to improving maternal health and
preventing birth defects, where for the past seven years, he led
all aspects of human resources, payroll and purchasing.  He
managed the successful redesign of the organization's
compensation plan, performance management system, benefits,
employee orientation and human resources operations, as well as
reduced overall employee attrition and significantly enhanced
the organization's training and development programs.

Prior to the March of Dimes, Mr. Martino spent 18 years in a
variety of human resources positions at IBM.  Most recently, as
vice president of Global Talent, he was responsible for IBM's
global staffing, learning and development, diversity, human
resources information technology, global mobility and knowledge
management strategy.

"Rick brings extensive global experience and perspective in
human resources to BearingPoint," said Ed Harbach,
BearingPoint's president and chief operating officer.  "We are
committed to being a world-class employer and Rick will help us
not only maintain that status, but continue our path toward
excellence in every aspect of human resources."

Mr. Martino graduated from American University with a Bachelor
of Science degree in Economics and Political Science, and later
earned a Master's in Business Administration from Cornell
University's Johnson Graduate School of Management.

                       About BearingPoint

Headquartered in McLean, Virginia, BearingPoint Inc., (NYSE:
BE) -- http://www.BearingPoint.com/-- provides of management
and technology consulting services to Global 2000 companies and
government organizations in 60 countries worldwide.  The firm
has approximately 17,500 employees, and major practice areas
focusing on the Public Services, Financial Services and
Commercial Services markets.

BearingPoint has global locations including in Indonesia,
Australia, Austria, China, India, Japan, Mexico, Portugal,
Singapore, and Thailand.

The company reported total assets of US$1.9 billion, total
liabilities of US$2.1 billion, and total stockholders deficit of
US$177.3 million as of Dec. 31, 2006.


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


AL'VIS OJSC: Asset Sale Slated for November 13
----------------------------------------------
Konius LLC, the bidding organizer of Tobacco Factory Al'vis OJSC
will open with the third public auction for the company's
properties at 11:00 a.m. on Nov. 13 at:

         Tobacco Factory Al'vis OJSC
         Samoletnaya Str. 55
         Ekaterinburg
         Sverdlovsk
         Russia

The starting prices for the auctioned assets are:

   -- Lot 1: RUR8,797,500, and
   -- Lot 2: RUR9,454,140.

Interested participants have until Nov. 9 to deposit RUR200,000.

Bidding documents must be submitted to:

         Room 407 А
         Posafskaya Str. 21
         Ekaterinburg
         Russia
         Tel: (343) 268-40-26, (343) 263-06-81

The Debtor can be reached at:

         Tobacco Factory Al'vis OJSC
         Samoletnaya Str. 55
         Ekaterinburg
         Sverdlovsk
         Russia


AVRYUZ APC*: Asset Sale Slated for November 6
---------------------------------------------
Zaripov I.F., Competitive proceedings manager of Avryuz APC will
open a public auction for the company's properties at 11:00 a.m.
on Nov. 6 at:

         Lenina Str. 52
         N. Avryuz Settlement
         Al'sheevskij Raion
         Bashkortostan
         Russia

The company has set a RUR5,513,389.83 starting price for the
auctioned assets.

Interested Participants have until 5:00 p.m. on Nov. 2 to submit
their bidding documents to:

         Lenina Str. 52
         N. Avryuz Settlement
         Al'sheevskij Raion
         Bashkortostan
         Russia
         Tel: 89191420181

Deposit required must be equivalent to 5% of the starting price.


COMMERCIAL INVESTMENT: Court Starts Competitive Proceedings
-----------------------------------------------------------
Creditors of Commercial Investment Bank are invited to submit
their proofs of claim to:

         Commercial Bank Commercial Investment Bank
         B. Tishinskij Per. 8/1
         123557 Moscow
         Russia


DISTILLERY ARKADAKSKIJ: Asset Sale Slated for November 9
--------------------------------------------------------
Vodolazskaya T.V., Competitive proceedings manager of Distillery
Arkadakskij LLC will open a public auction for the company's
properties at 1:00 p.m. on Nov. 9 at:

         Moscow Zastava Str. 1
         Efremov
         301840 Tula
         Russia

The company has set a RUR18,013,500 starting price for the
auctioned assets.

Interested participants have until Oct. 31 to deposit an amount
of RUR100,000 to the settlement account of Distillery
Arkadakskij LLC.

Information related to the auction can be obtained at:

         Moscow Zastava Str. 1
         Efremov
         301840 Tula
         Russia
         Tel: (48741) 6-42-75


EVRAZ GROUP: Steel Output Drops 16% for Third Quarter 2007
----------------------------------------------------------
Evraz Group S.A. has released its operational results for the
third quarter of 2007.

Production Volumes
Product, '000 tons

                        3Q 2007     3Q 2006    % change
Steel Division
   Pig iron               2,761       3,288      (16.0)
   Crude steel            3,676       4,013       (8.4)
   Rolled products        3,473       3,721       (6.7)
      Semi-finished         620       1,564      (60.4)
      Construction        1,223       1,124        8.8
      Railway products      563         427       31.7
      Flat-rolled           597         407       46.7
      Tubular products      124           5
      Other steel           334         195       71.5

Mining Division
   Iron ore (saleable)
      Concentrate           923         631       46.2
      Sinter              1,914       2,265      (15.5)
      Pellets             1,439       1,482       (2.9)
   Coal
      Coking coal (mined) 1,352         179      653.8
      Steam coal (mined)  1,319          29        n/a
      Concentrate           784         n/a

Vanadium (tons)
      Vanadium in slag
         (saleable)       2,919       2,970       (1.7)
      Vanadium in alloys
         and chemicals    3,069         378      712.1

                         About Evraz

Headquartered in Luxembourg, Evraz Group S.A. (LSE:EVR) --
http://www.evraz.com/-- manufactures and distributes steel and
related products.  In addition, the Company owns and operates
certain mining assets.  Its steel production and mining
facilities are mainly located in the Russian Federation.  It
operates three steel mills in Russia, one mill in the Sverdlovsk
region and two mills in the Kemerovo region.

                           *   *   *

As reported in the TCR-Europe on July 23, 2007, Fitch Ratings
affirmed Evraz Group S.A.'s Long-term Issuer Default and senior
unsecured ratings at 'BB' and its Short-term IDR at 'B'.

At the same time, Fitch has affirmed the ratings of Mastercroft
Ltd., a 100%-owned subsidiary of Evraz that controls the group's
Russia-based assets, at Long-term IDR 'BB' and Short- term IDR
'B'.  Evraz Securities S.A.'s senior unsecured rating is
affirmed at 'BB'.  The Outlooks on the Long-term IDRs are
Stable.

Evraz Group also carries a Ba3 Corporate Family Rating for Evraz
Group S.A. and a Ba3 Probability-of-Default Rating from Moody's
Investor Service.

Moody's also assigned these ratings:

* Issuer: Evraz Group S.A.

                                                    Projected
                         Old Debt New Debt LGD      Loss-Given
  Debt Issue             Rating   Rating   Rating   Default
  ----------             -------  -------  ------   -------

  8.25% Senior Unsecured
  Regular Bond/
  Debenture Due 2015      B2        B2      LGD5     88%

* Issuer: Evraz Securities S.A.

                         Old Debt New Debt LGD      Loss Given
  Debt Issue             Rating   Rating   Rating   Default
  ----------             -------  -------  ------   -------

  10.875% Senior Unsecured
  Regular Bond/
  Debenture Due 2009      B1       Ba3      LGD3     47%

In November 2006, Fitch Ratings affirmed Luxembourg-based Evraz
Group S.A.'s Issuer Default and senior unsecured ratings at BB
and its Short-term rating at B.

Standard & Poor's rated Evraz Group's 8-1/4% notes due November
2015 at B+.


ISKITIMSKIJ CJSC: Creditors Must File Claims by Dec. 6
------------------------------------------------------
Creditors of Meat-Canning Integrated Plant Iskitimskij CJSC have
until Dec. 6 to submit proofs of claim at:

         Ordzhonikidze Str. 43
         30099 Novosibirsk
         Russia

The Arbitration court of Novosibirsk commenced competitive
proceedings against the company after finding it insolvent.  The
Court appointed Augustovskij V.N. as Competitive proceedings
manager.  The case is docketed under Case No. А45-2249/07-43/8.

The Court is located at:

         The Arbitration Court of Novosibirsk
         Kirova Str. 3
         630007 Novosibirsk
         Russia

The Debtor can be reached at:

         Meat-Canning Integrated Plant Iskitimskij CJSC
         Yubileynyi Pr. 6
         Iskitim
         633210 Novosibirsk
         Russia


LEFORTOVO CJSC: Creditors Must File Claims by Nov. 5
----------------------------------------------------
Creditors of Production-And-Construction Association Lefortovo
CJSC have until Nov. 5 to submit proofs of claim at:

         Petrovka Str. 26-3-215
         27051 Moscow
         Russia
         Tel: 686-00-15

The Arbitration court of Moscow will convene at 3:00 p.m. on
Jan. 22, 2008 to hear the company's bankruptcy supervision
procedure.  The case is docketed under Case No. А40-34636/
07-71-90 Б.

The Court is located at:

         The Arbitration Court of Moscow
         Room 728
         Novaya Basmannaya Str. 10
         Moscow
         Russia

The Debtor can be reached at:

         Production-and-Construction Association Lefortovo CJSC
         Krasnokazarmennaya 3
         Moscow
         Russia


MINERAL-RESOURCE CJSC: Creditor Must File Claims by Nov. 6
----------------------------------------------------------
Creditors of Mineral-Resource CJSC have until Nov. 6 to submit
proofs of claim at:

         POB 157
         Ufa-96
         Bashkortostan
         Russia

The Arbitration court of Bashkortostan commenced competitive
proceedings on the company.  The Court appointed Shigapova G.R.
as Competitive proceedings manager.  The case is docketed under
Case No. А07-13069/07-Г-ХРМ.

The Court is located at:

         The Arbitration Court of Bashkortostan
         Oktyabrskoy Revolyutsii Str. 63a
         Ufa
         Bashkortostan
         Russia

The Debtor can be reached at:

         Mineral-Resource CJSC
         Mendeleeva Str. 127/2
         Ufa-71
         Russia


MINYARSKIJ METIZNO: Creditors Must File Claims by Nov. 6
--------------------------------------------------------
Creditors of Minyarskij Metizno-Metallurgic Plant CJSC have
until Nov. 6 to submit their proofs of claim.

The Arbitration court of Chelyabinsk commenced competitive
proceedings on the company.  The case is docketed under Case No.
А76-12524/2007-34-221.

The Competitive proceedings manager is:

         Fazylov M.G.
         Ahunovo Settlement
         Uchalinskij
         453733 Bashkortostan
         Russia

The Court is located at:

         The Arbitration Court of Chelyabinsk
         Vorovskogo Str. 2
         454091 Chelyabinsk
         Russia


PERESLAVL' CJSC: Asset Sale Slated for November 7
-------------------------------------------------
The Competitive proceedings manager of Pereslavl' CJSC will open
a public auction for the company's properties at noon on Nov. 7
at:

         Office 1
         Republican Str. 42
         Yaroslavl'
         Russia

The company has set a RUR5,034,492 starting price for the
auctioned assets.

Interested participants have until Nov. 6 to deposit an amount
equivalent to 20% of the starting price to the settlement
account of Pereslavl' CJSC.

Any information related to the auction can be obtained at
Tel: (4852)72-62-26.

Bidding documents must be submitted to:

         Office 1
         Republican Str. 42
         Yaroslavl'
         Russia


TERSA CJSC: Asset Sale Slated for November 5
--------------------------------------------
Zaripov I.F., Competitive proceedings manager of Tersa CJSC will
open a public auction for the company's properties at 2:00 p.m.
on Nov. 5 at:

         Portovaya Str. 16/7
         Volzhskij
         Volgograd
         Russia

The company has set a RUR6,967,800 starting price for the
auctioned assets.

Interested participants have until 4:00 p.m. on Oct. 31 to
submit their bidding documents and to deposit an amount of
RUR936,000 at:

         Office 413
         7th Gvardeyskoj Division Str. 12
         Volgograd
         Russia


URALTRANSBANK: Fitch Affirms B- IDR on Low Capital Flexibility
--------------------------------------------------------------
Fitch Ratings has affirmed Russia-based Uraltransbank's Long-
term Issuer Default Rating at 'B-', Short-term IDR at 'B',
National Long-term rating at 'BB+(rus)', Individual Rating at
'D' , Support Rating at '5' and Support Rating Floor at 'No
Floor'.  The Outlooks for the Long-term IDR and National Long-
term rating are Stable.

UTB's ratings reflect its small size by international standards,
potentially vulnerable liquidity and low capital flexibility.
Fitch notes that to facilitate further growth of operations and
to remain competitive, the bank needs additional sources of
long-term funding and capitalization.  However, a growing
franchise in its home region, an improvement in UTB's quality of
earnings, acceptable asset quality to date and moderate risk
appetite in lending are also acknowledged.

Upside potential may result from further franchise growth,
greater clarity in relation to sources of capital to support
continued expansion, reduced dependence on the bank's current
majority shareholder and Chairman, and the building out of asset
quality track record in the rapidly expanding retail cash loan
portfolio.  Downward pressure could arise from increased loan
impairment levels, for example as the fast growing retail
portfolio seasons.

UTB is a small bank, but well-recognized in the Sverdlovsk
region.  It is majority-owned by Valery Zavodov, who is also
Chairman of the Management Board.  The EBRD has owned a blocking
stake of 25% +1 share since December 2004.


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


EMPRESAS HIPOTECARIO 5: S&P Junks EUR30.8 Million Class D Notes
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary
credit ratings to the EUR1.43 billion floating-rate notes to be
issued by EMPRESAS HIPOTECARIO TDA CAM 5, Fondo de Titulizacion
de Activos.

The originator is Caja de Ahorros del Mediterraneo (CAM;
A+/Stable/A-1), which at closing, will sell to EMPRESAS
HIPOTECARIO TDA CAM 5 a EUR1.4 billion closed portfolio of
secured loans granted to Spanish SMEs.

To fund this purchase, Titulizacion de Activos, S.G.F.T., S.A.,
the trustee, will issue five classes (the class A1, A2, A3, B,
and C notes) of floating-rate, quarterly paying notes on behalf
of EMPRESAS HIPOTECARIO TDA CAM 5.

EMPRESAS HIPOTECARIO TDA CAM 5 is the fifth SME transaction to
be completed by CAM. This securitization comprises a pool of
underlying mortgage-backed assets granted to Spanish SMEs.  Some
of the loans in the pool are loans granted to self-employed
borrowers.

The ratings on the notes reflect some structural enhancements
provided by the class subordination, the reserve fund, the
presence of the asset swap, and comfort provided by various
other contracts.

                          Ratings List

EMPRESAS HIPOTECARIO TDA CAM 5, Fondo de Titulizacion de Activos
   EUR1.43 Billion Floating-Rate Notes

                          Prelim.        Prelim. Amount
           Class          Rating           (Mln. EUR)
           -----          ------            --------
            A1             AAA            200.0
            A2             AAA          1,000.0
            A3             AAA             95.0
            B              A-              59.5
            C              BBB             45.5
            D(1)           CCC-            30.8

        (1) The class D notes will be used to finance the
            reserve fund.


HIPOTOTTA NO. 6: S&P Junks EUR11.45 Million Class F Notes
---------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary
credit ratings to the EUR2.2 billion mortgage-backed floating-
rate notes to be issued by HipoTotta No. 6 PLC.

This will be the sixth RMBS transaction set up by Banco
Santander Totta, S.A.  At closing, Totta will sell the issuer a
EUR2.2 billion pool of mortgage loans granted to Portuguese
residents.  The mortgage loans will be backed by first-ranking
mortgages.

To fund this purchase, HipoTotta No. 6 will issue six classes of
floating-rate, quarterly paying notes.  The class F notes will
fully fund the cash reserve account at closing.

The transaction will mix principal and interest from the
mortgages to pay interest and principal due under the notes, a
feature usually seen in Spanish RMBS transactions.

To protect the more senior noteholders under certain stress
scenarios, the priority of payments will feature a trigger based
on the accumulated level of defaults.  If the trigger is
breached, a portion of the payment of subordinated interest will
be moved to a more subordinated position in the priority of
payments.

In addition, the transaction will feature a write-off mechanism
where principal amortization will be accelerated by the amount
of loans over 18 months past due.

                          Ratings List

HipoTotta No. 6 PLC
   EUR2.2 Billion Mortgage-Backed Floating-Rate Notes

                          Prelim.        Prelim. Amount
           Class          Rating           (Mln. EUR)
           -----          ------            --------
            A1             AAA                224.40
            A2             AAA              1,800.40
            B              AA                  52.40
            C              A                   36.30
            D              BBB                 40.70
            E              BB-                 45.80
            F(1)           CCC-                11.45

        (1) The class F notes will fully fund the cash reserve
            account at closing.


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


ACTIVE-BANK: Moody's Assigns B3/NP/E+/Baa3.ua Ratings
-----------------------------------------------------
Moody's Investors Service assigned B3 long-term and Not-Prime
short-term local and foreign currency deposit ratings and an E+
bank financial strength rating to Active-Bank.

Moody's has also assigned a Baa3.ua National Scale Rating to the
bank.  The outlook for the global rating is stable, while the
NSR carries no specific outlook.

According to Moody's, the B3/NP/E+ global scale ratings reflect
global default and loss expectation, while the Baa3.ua NSR
reflects the standing of the bank's credit quality relative to
its domestic peers.

Moody's notes that Active-Bank is unlikely to receive support
from its owners or from the Ukrainian authorities in case of
distress. Hence, the B3 long-term local currency deposit rating
assigned to the bank does not incorporate the possibility of
external support.

According to Moody's, the E+ BFSR reflects the bank's market
position, supported by close ties to the Ukrpodshipnik group of
companies operating in the Ukraine and healthy financial
performance, although driven by once-off income from the related
parties.  On the other hand, considerable single-name
concentrations in the loan books that could stress the bank's
liquidity and capitalization, as well as limited franchise are
the key rating constraints.

Moody's notes that at the current level the upside potential of
the bank's ratings is limited. However, Active-Bank's BFSR could
be upgraded in the event of its franchise being strengthened to
a level commensurate with the bank's B2-rated peers. Future
upward rating movements would also be highly dependent on the
bank's success in execution of its retail-oriented strategy and
tailoring risk management practices to new products. A downward
change in the bank's ratings, although not very likely, could
occur as a result of a combination of the following factors: an
increase in the loan book concentration, deterioration of asset
quality indicators or material weakening of capital adequacy
ratios.

Active-Bank is headquartered in Kyiv, Ukraine and as of Dec. 31,
2006 reported total assets of US$293 million and net income of
US$3.1 million for the year then ended.


DON METAL: Proofs of Claim Deadline Set October 20
--------------------------------------------------
Creditors of LLC Don Metal Industry (code EDRPOU 30775565) have
until Oct. 20 to submit their proofs of claim to:

         The Economic Court of Donetsk
         Artema Str. 157
         83048 Donetsk
         Ukraine

The Economic Court of Donetsk commenced bankruptcy supervision
procedure on the company.  The case is under docketed Case No.
27/159B.

The Debtor can be reached at:

         LLC Don Metal Industry
         Gagarin Avenue 25
         Torez
         86600 Donetsk
         Ukraine


EUM LTD: Creditors Must File Claims by October 20
-------------------------------------------------
Creditors of LLC Debuging Enterprise Eum Ltd. (code EDRPOU
25221707) have until Oct. 20 to submit their 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 under docketed Case No. 21/193/07.

The Debtor can be reached at:

         LLC Debuging Enterprise Eum Ltd.
         Industrial Zone 11-A
         Energodar
         71500 Zaporozhje
         Ukraine


EURO-START LLC: Creditors Must File Claims by October 20
--------------------------------------------------------
Creditors of LLC Euro-Start (code EDRPOU 21682587) have until
Oct. 20 to submit their proofs of claim to:

         The Economic Court of Kiev
         B. Hmelnitskij Boulevard 44-B
         01030 Kiev
         Ukraine

The Economic Court of Kyiv commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
under docketed Case No. 15/492-b.

The Debtor can be reached at:

         LLC Euro-Start
         Bolshaya Vasilkovskaya Str. 23-B
         01601 Kiev
         Ukraine


HOUSEHOLD EQUIPMENT: Proofs of Claim Deadline Set October 20
------------------------------------------------------------
Creditors of LLC Household Equipment Repair (code EDRPOU
02133610) have until Oct. 20 to submit their proofs of claim to:

         The Economic Court of Donetsk
         Artema Str. 157
         83048 Donetsk
         Ukraine

The Economic Court of Donetsk commenced bankruptcy supervision
procedure on the company.  The case is under docketed Case No.
27/154B.

The Debtor can be reached at:

         LLC Household Equipment Repair
         Leninsky avenue, 4a
         83062 Donetsk
         Ukraine


MEBOS LLC: Creditors Must File Claims by October 20
---------------------------------------------------
Creditors of LLC Science-Production Firm Mebos (code EDRPOU
20791682) have until Oct. 20 to submit their 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
under docketed Case No. 8/178.

The Debtor can be reached at:

         LLC Science-Production Firm Mebos
         D. Galitsky Str. 5
         Turka
         82500 Lvov
         Ukraine


TECHNICS OJSC: Creditors Must File Claims by October 20
-------------------------------------------------------
Creditors of OJSC Kharkov Enterprise Agricultural Technics (code
EDRPOU 05516464) have until Oct. 20 to submit their proofs of
claims to:

         The Economic Court of Kharkov
         Derzhprom 8th Entrance
         Svoboda Square 5
         61022 Kharkov
         Ukraine

The Economic Court of Kharkov commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
under docketed Case No. B-39/150-07.

The Debtor can be reached at:

         OJSC Kharkov Enterprise Agricultural Technics
         1st May Str. 1
         Rogan
         Kharkov
         Ukraine


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


ADVANCED MARKETING: Wants More Time to Decide on Remaining Lease
----------------------------------------------------------------
Advanced Marketing Services Inc., Publishers Group Incorporated,
and Publishers Group West Incorporated ask the U.S. Bankruptcy
Court for the District of Delaware to extend the time by which
they may assume or reject their sole remaining unexpired lease
of a non-residential real property, located in Indianapolis,
Indiana, with The Prudential Company of America as landlord.

The Debtors seek extension of the Lease Decision Period through
and including Oct. 31, 2007, without prejudice to their right to
seek further extensions.

Mark D. Collins, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, relates that the Court previously approved
the Debtors' assumption and assignment to Perseus Books LLC of
the leases for space in Berkeley and New York.  He also notes
that the Debtors have expressed intention to consummate that
assignment before September 30.

Under Section 365(d)(4)(B)(ii) of the Bankruptcy Code, the Court
may grant a subsequent extension "only upon prior written
consent of the lessor in each instance."

In the Debtors' cases, Mr. Collins points out, they have
obtained prior written consent of the lessor of the Indianapolis
Lease to the requested October 31 extension.

The Court will convene a hearing on October 26 at 11:00 a.m., to
consider the Debtors' request.  Pursuant to Del.Bankr.LR 9006-2,
the Debtors' Lease Decision Period with respect to the
Indianapolis Lease is automatically extended until the
conclusion of that hearing.

                   About Advanced Marketing

Based in San Diego, Calif., Advanced Marketing Services, Inc.
-- http://www.advmkt.com/-- provides customized merchandising,
wholesaling, distribution and publishing services, currently
primarily to the book industry.  The company has operations in
the U.S., Mexico, the United Kingdom and Australia and employs
around 1,200 people Worldwide.

The company and its two affiliates, Publishers Group
Incorporated and Publishers Group West Incorporated filed for
chapter 11 protection on Dec. 29, 2006 (Bankr. D. Del. Case Nos.
06-11480 through 06-11482).  Suzzanne S. Uhland, Esq., Austin K.
Barron, Esq., Alexandra B. Feldman, Esq., O'Melveny & Myers,
LLP, represent the Debtors as Lead Counsel.  Chun I. Jang, Esq.,
Mark D. Collins, Esq., and Paul Noble Heath, Esq., at Richards,
Layton & Finger, P.A., represent the Debtors as Local Counsel.
Lowenstein Sandler PC represents the Official Committee of
Unsecured Creditors.  In schedules filed with the Court,
Advanced Marketing disclosed total assets of US$213,384,791 and
total debts of US$216,608,357.  Publishers Group West disclosed
total assets of US$39,699,451 and total debts of US$83,272,493.
Publishers Group Inc. disclosed zero assets but US$41,514,348 in
liabilities.

On Aug. 24, 2007, the Debtors' exclusive period to file a
chapter 11 plan expired.  On the same date, the Debtors and
Creditors Committee filed a Plan & Disclosure Statement.  On
September 26, the Court approved the adequacy of the Disclosure
Statement explaining the Second Amended Plan.  The hearing to
consider confirmation of the Plan is set on Nov. 15, 2007.
(Advanced Marketing Bankruptcy News, Issue No. 21; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000).


BGM CRYOGENIC: Brings In Liquidators from BDO Stoy Hayward
----------------------------------------------------------
Martha H. Thompson and Antony David Nygate of BDO Stoy Hayward
LLP were appointed joint liquidators of BGM Cryogenic
Engineering Ltd. (formerly Valueshow Ltd.) on Oct. 8 for the
creditors' voluntary winding-up proceeding.

The company can be reached at:

         BGM Cryogenic Engineering Ltd.
         c/o BDO Stoy Hayward LLP
         Kings Wharf
         20-30 Kings Road
         Reading
         Berkshire
         RG1 3EX
         England


COLLINS & AIKMAN: Joint Amended Plan Effective as of October 12
---------------------------------------------------------------
Collins & Aikman Corporation and its debtor-affiliates has
notified the U.S. Bankruptcy Court for the Eastern District of
Michigan that the effective date of their Plan was Oct. 12,
2007.  The effective date comes about three months since the
Debtors obtained confirmation of their Amended Joint Plan on
July 18, 2007.

Pursuant to the Plan, on the Effective Date, all of the Debtors'
assets that were not divested before the Effective Date or
transferred to the Litigation Trust or the applicable Residual
Trust were transferred to the Post-Consummation Trust.

Except for an executory contract or unexpired lease that was
previously assumed, assumed and assigned, or rejected by Court
order with an effective date of the rejection on or before the
Effective Date or that is assumed pursuant to Article V.A of the
Plan or was assumed in the Confirmation Order, each executory
contract and unexpired lease entered into by a Debtor before
filing for bankruptcy is deemed rejected pursuant to Section 365
of the Bankruptcy Code, as of the Effective Date or the date of
rejection.

According to Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in
New York, if the rejection of an executory contract or unexpired
lease gives rise to a claim by the other party or parties to the
contract or lease, the Claim will be forever barred and will not
be enforceable against the Debtors, the Trusts, their respective
successors or their respective properties unless a proof of
claim is filed with the Court and served on the Post-
Consummation Trust no later than (i) Nov.r 12, 2007, or (ii) if
the date of rejection is after the Effective Date, 30 days after
the date of rejection.

Unless previously filed with the Court, requests for payment of
administrative claims that arise on or before the Effective Date
must be filed with the Court and served on the Post-Consummation
Trust no later than November 12, 2007.

Holders of Administrative Claims that are required to file and
serve a request for payment of the Administrative Claim and do
not file and serve a request by the applicable bar date will be
forever barred from asserting the Administrative Claim against
the Debtors, the Post-Consummation Trust, the Litigation Trust
or their property, and the Administrative Claims will be deemed
discharged as of the Effective Date.

Professionals or other persons asserting a fee claim for
services rendered before the Effective Date must file and serve
an application for final allowance of the Fee Claim no later
than Nov. 12, 2007.

Any professional who may receive compensation or reimbursement
of expenses pursuant to the Ordinary Course Professional Order
may continue to receive compensation and reimbursement of
expenses for services rendered before the Effective Date,
without further review of or approval by the Court.  Any
professional that is entitled, pursuant to the Plan or Court
order, to receive payment from the Estates for fees and expenses
incurred after the Effective Date in connection with the
Debtors' Chapter 11 cases may be compensated by the Post-
Consummation Trust without further application to the Court.

Objections to any Fee Claim must be filed with the Court and
served on the Post-Consummation Trust and the requesting party
by the later of Dec. 12, 2007, and 30 days after the filing of
the payment request.

Mr. Schrock states that distributions to holders of allowed
claims will be made in accordance with the terms of Article VI
of the Plan and the Confirmation Order.

                      About Collins & Aikman

Headquartered in Troy, Mich., Collins & Aikman Corporation --
http://www.collinsaikman.com/-- is a global leader in cockpit
modules and automotive floor and acoustic systems and is a
leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of approximately 23,000 and a network of more
than 100 technical centers, sales offices and manufacturing
sites in 17 countries throughout the world.  The Company and its
debtor-affiliates filed for chapter 11 protection on May 17,
2005 (Bankr. E.D. Mich. Case No. 05-55927).  Richard M. Cieri,
Esq., at Kirkland & Ellis LLP, represents C&A in its
restructuring.  Lazard Freres & Co., LLC, provides the Debtors
with investment banking services.  Michael S. Stammer, Esq., at
Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors Committee.  When the Debtors
filed for protection from their creditors, they listed
$3,196,700,000 in total assets and $2,856,600,000 in total
debts.

On Aug. 30, 2006, the Debtors filed a Joint Chapter 11 Plan and
a Disclosure Statement explaining that plan.  On Dec. 22, 2006,
they filed an Amended Plan and on Jan. 22, 2007, filed a
modified Amended Plan.  On Jan. 25, 2007, the Court approved the
adequacy of the Disclosure Statement.  On July 18, 2007, the
Court confirmed the Debtors' Liquidation Plan.  The Debtors'
cases are set to be closed on Feb. 28, 2008.  (Collins & Aikman
Bankruptcy News, Issue No. 77; Bankruptcy Creditors' Service
Inc.; http://bankrupt.com/newsstand/or 215/945-7000)


COLLINS & AIKMAN: Shuts Down Operation After Sale Completion
------------------------------------------------------------
David N. Goodman of the Associated Press reports that Collins &
Aikman Corporation is closing after completing the sale of its
last major operations to a private equity group, International
Automotive Components, led by Wilbur Ross.

IAC is 75% owned by WL Ross & Co. LLC and by Franklin Mutual
Advisers LLC.  Lear Corp. owns 25% of IAC.

Mr. Goodman relates that Collins became troubled under the
leadership of former President Ronald Reagan administration
budget director, David Stockman, "who took it on an expansion
drive on the eve of a big downturn in the U.S. auto industry."
Mr. Stockman has been accused of lying to investors about the
company's financial condition and is awaiting trial.

IAC recently completed its acquisition of Collins' soft trim
operations, which has been operating under Chapter 11 bankruptcy
protection for two years, Mr. Goodman says.  IAC's acquisitions
include 16 North American plants that manufacture carpeting,
molded floors, dash board parts and other interior vehicle
components.

According to Mr. Goodman, neither company disclosed the sale
price, but it was listed as $134,000,000 in regulatory
proceedings before the European Commission.

The 116-year-old Collins was a top supplier to the "Detroit
Three" automakers.  It once manufactured parts for almost every
car built in the United States.

                     About Collins & Aikman

Headquartered in Troy, Mich., Collins & Aikman Corporation --
http://www.collinsaikman.com/-- is a global leader in cockpit
modules and automotive floor and acoustic systems and is a
leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of approximately 23,000 and a network of more
than 100 technical centers, sales offices and manufacturing
sites in 17 countries throughout the world.  The Company and its
debtor-affiliates filed for chapter 11 protection on May 17,
2005 (Bankr. E.D. Mich. Case No. 05-55927).  Richard M. Cieri,
Esq., at Kirkland & Ellis LLP, represents C&A in its
restructuring.  Lazard Freres & Co., LLC, provides the Debtors
with investment banking services.  Michael S. Stammer, Esq., at
Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors Committee.  When the Debtors
filed for protection from their creditors, they listed
$3,196,700,000 in total assets and $2,856,600,000 in total
debts.

On Aug. 30, 2006, the Debtors filed a Joint Chapter 11 Plan and
a Disclosure Statement explaining that plan.  On Dec. 22, 2006,
they filed an Amended Plan and on Jan. 22, 2007, filed a
modified Amended Plan.  On Jan. 25, 2007, the Court approved the
adequacy of the Disclosure Statement.  On July 18, 2007, the
Court confirmed the Debtors' Liquidation Plan.  The Debtors'
cases are set to be closed on Feb. 28, 2008.  (Collins & Aikman
Bankruptcy News, Issue No. 77; Bankruptcy Creditors' Service
Inc.; http://bankrupt.com/newsstand/or 215/945-7000)


COLLINS & AIKMAN: Continues Sale of 400 Patents Despite Closure
---------------------------------------------------------------
Collins & Aikman Corp. will continue to market around 400
remaining patents for sale despite disclosing that it will cease
operations, Jewel Gopwani at the Free Press reported.

The patents from Collins & Aikman's plastics business relate to
vehicle interior components, of which more than half are for
technology that has not made it into vehicles yet.

Collins & Aikman vice president of research and development, Jim
Dowd, along with consultants and a few Collins & Aikman
employees, will remain to find buyers and licenses to use the
technology.  According to Ms. Gopwani, the patents account for
$150,000,000 the company spent in the last decade on new
technology.

The patents "will be sold at a substantially discounted price,"
Mr. Dowd said.  Proceeds from the sale will go to creditors.

Collins & Aikman is marketing the patents to companies in
Michigan and those considering Michigan, Ms. Gopwani related.
One of the company's patent consultants, Weston Anson, plans on
marketing the patents in China.

Gabe Fried, another patent consultant, said that along with the
product patent are other information, including books of data
and testing, and sources of materials and, in some cases, tools
to make prototypes.  "There is a lot of value here. . . It is
just a question of getting it into the hands of the right
people," he said.

                     About Collins & Aikman

Headquartered in Troy, Mich., Collins & Aikman Corporation --
http://www.collinsaikman.com/-- is a global leader in cockpit
modules and automotive floor and acoustic systems and is a
leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of approximately 23,000 and a network of more
than 100 technical centers, sales offices and manufacturing
sites in 17 countries throughout the world.  The Company and its
debtor-affiliates filed for chapter 11 protection on May 17,
2005 (Bankr. E.D. Mich. Case No. 05-55927).  Richard M. Cieri,
Esq., at Kirkland & Ellis LLP, represents C&A in its
restructuring.  Lazard Freres & Co., LLC, provides the Debtors
with investment banking services.  Michael S. Stammer, Esq., at
Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors Committee.  When the Debtors
filed for protection from their creditors, they listed
$3,196,700,000 in total assets and $2,856,600,000 in total
debts.

On Aug. 30, 2006, the Debtors filed a Joint Chapter 11 Plan and
a Disclosure Statement explaining that plan.  On Dec. 22, 2006,
they filed an Amended Plan and on Jan. 22, 2007, filed a
modified Amended Plan.  On Jan. 25, 2007, the Court approved the
adequacy of the Disclosure Statement.  On July 18, 2007, the
Court confirmed the Debtors' Liquidation Plan.  The Debtors'
cases are set to be closed on Feb. 28, 2008.  (Collins & Aikman
Bankruptcy News, Issue No. 77; Bankruptcy Creditors' Service
Inc.; http://bankrupt.com/newsstand/or 215/945-7000)


DURA AUTOMOTIVE: Wants John Knappenberger Separation Pact Okayed
----------------------------------------------------------------
DURA Automotive Systems Inc. and its debtor-affiliates ask the
U.S. Bankruptcy Court for the District of Delaware to approve a
separation agreement between Dura Automotive Systems, Inc., and
former Vice President of Administration, Quality and Materials
John J. Knappenberger.

Mr. Knappenberger joined the company approximately 14 years ago.
Since December 1995, Mr. Knappenberger has served as the Vice
President of Administration and the Vice President of Quality
and Materials of Dura.  Mr. Knappenberger also assumed
responsibility for the administration of the Debtors'
purchasing, sales and marketing operations in June 1997.

Mr. Knappenberger also managed the Debtors' information
technology operations in March 1999, including the Debtors'
Enterprise Resource Planning and QAD Implementation Initiative
-- a software program designed to centralize and streamline the
Debtors' administrative functions and to unify the Debtors'
time-worked tracking and attendance system and the Debtors'
manufacturing tracking system.  This, by centralizing and
streamlining many of the Debtors' administrative functions,
enables the Debtors to more closely track projected expenses and
manufacturing activities.

The Debtors and Mr. Knappenberger recently agreed to end his
employment with the Debtors, and agreed to a Separation
Agreement.  Its pertinent terms are:

  (a) Effective Date: November 1, 2007.

  (b) Consideration:

        (i) The Debtors agreed to pay Mr. Knappenberger,
            pursuant to their general policy, an amount equal to
            the accrued, but unused, vacation time earned during
            his employment with the Debtors, to the extent
            permitted by applicable bankruptcy and
            non-bankruptcy law; and

       (ii) The Debtors agreed to pay Mr. Knappenberger an
            additional US$125,000 in exchange for the
            performance of his various Non-Competition, Non-
            Solicitation, Non-Disclosure and Non-Disparagement
            obligations.

  (c) Non-Compete, Non-Solicitation, Non-Disclosure, and Non-
      Disparagement Obligations.

        (i) Mr. Knappenberger agreed, separately, to abide by
            the Non-Competition, Non-Disparagement,
            Non-Solicitation and Non-Disclosure provisions of
            the Separation Agreement, through November 1, 2008.
            Specifically,

            (A) Non-Competition -- Mr. Knappenberger will not,
                directly or indirectly,

                (1) become employed by, consult for, provide or
                    arrange financing for, or own any interest
                    in, any company that is in the same business
                    or substantially the same business as the
                    Company and its affiliates and is a direct
                    competitor of the Company or its affiliates;
                    provided, however, that Mr. Knappenberger
                    may own not more than five percent of any
                    class of publicly traded securities of any
                    legal entity engaged in a Competing
                    Business; or

                (2) participate in any manner in the Chapter 11
                    bankruptcy cases involving the company;
                    provided, however, that, consistent with his
                    confidentiality obligations under the
                    agreement, Mr. Knappenberger may be employed
                    by parties with an interest in the company's
                    Chapter 11 cases so long as his duties do
                    not involve the company; provided further
                    that the prospective employer affirmatively
                    screens him from any and all matters
                    involving the company or its Chapter 11
                    cases during the duration.

            (B) Non-Solicitation -- For the Duration,
                Mr. Knappenberger will not directly or
                indirectly through another person or entity,
                other than in the ordinary course of his
                employment with the company or any of its
                affiliates:

                (1) induce or attempt to induce any employee of
                    the company or any affiliate to leave the
                    employ of the company or the affiliate, or
                    in any way interfere with the relationship
                    between the company or any affiliate and any
                    employee thereof, or

                (2) any affiliate at any time during the 12-
                    month period immediately preceding the date
                    of the intended hire or

                (3) induce or attempt to induce any customer,
                    supplier, licensee, licensor or other
                    business relation of the company or any
                    affiliate to cease doing business with the
                    company or the affiliate, or in any way
                    interfere with the relationship between any
                    such customer, supplier, licensee, licensor
                    or other business relation and the Company
                    or any affiliate; including, without
                    limitation, making any negative or
                    disparaging statements or communications
                    regarding the company or its affiliates.

            (C) Non-Disparagement -- For the Duration,

                (1) Mr. Knappenberger will not make any oral or
                    written statement or publication with
                    respect to the company or its affiliates or
                    any stockholders, directors,officers,
                    employees, lenders or their respective
                    affiliates, which disparages or denigrates,
                    or could reasonably be interpreted as,
                    disparaging or denigrating, the company or
                    any of its affiliates or any stockholders,
                    directors, officers, employees, lenders or
                    their respective affiliates.

                (2) the company's officers will not directly or
                    indirectly, make any oral or written
                    statement or publication with respect to the
                    Employee, which disparages or denigrates, or
                    could reasonably be interpreted as,
                    disparaging or denigrating, the Employee.

            (D) Non-Disclosure -- Mr. Knappenberger will keep in
                strict confidence, and will not, at any time,
                disclose, furnish, disseminate, make available,
                use or suffer to be used in any manner, any
                confidential information of the company;
                provided, however,  that he will not be
                precluded from disclosing Confidential
                Information pursuant to, or as required by, law,
                subpoena, judicial process or to any
                governmental agency in connection with any
                investigation or proceeding of the agency.

            (E) Upon the Effective Date, Mr. Knappenberger will
                deliver to the company all memoranda, notes,
                plans, records, reports, computer files, disks
                and tapes, printouts and software and other
                documents and data, and their copies embodying
                or relating to Confidential Information or the
                business of the company or any affiliates which
                Mr. Knappenberger may then possess or have under
                his control.

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.

The Debtors' exclusive plan-filing period expired on Sept. 30,
2007.  On Aug. 22, 2007, the Debtors' filed their Plan of
Reorganization and the Disclosure Statement explaining that Plan
was approved on Oct. 3, 2007.  The hearing to consider
confirmation of the plan is set for Nov. 26, 2007.  (Dura
Automotive Bankruptcy News, Issue No. 34 Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000).


ENRON CORP: Creditors Appeal Denial of Claims Subordination
-----------------------------------------------------------
A group of Enron Corp.'s creditors have filed an appeal in order
to overturn a decision by the U.S. Bankruptcy Court for the
Southern District of New York denying the request to subordinate
some claims to pre-petition agreements having senior
indebtedness guarantees, the American Bankruptcy Institute
reports citing Bankruptcy Law360.

According to the report, the group wants to know if the
Bankruptcy Court erred in not applying the rule of the last
antecedent, a rule of contract interpretation, by saying that
the banks' claims couldn't be subordinated to some agreements
given a senior debt status.

The issue revolves around Enron's subsidiary, Enron Finance
Partners LLC.  Enron Finance, which had been implicated in parts
of its accounting fraud, held claims against Enron through
promissory notes later transferred to the banks, the report
adds.

Since these claims were transferred to creditors as part of an
earlier settlement agreement and not through a sale, the main
question is whether or not these transferred claims can be
subordinated to the indenture agreement between the company and
appealing group, the report relates.

                      About Enron Corporation

Based in Houston, Texas, Enron Corporation filed for chapter 11
protection on Dec. 2, 2001 (Bankr. S.D.N.Y. Case No. 01-16033)
following controversy over accounting procedures, which caused
Enron's stock price and credit rating to drop sharply.  Judge
Gonzalez confirmed the Company's Modified Fifth Amended Plan on
July 15, 2004, and numerous appeals followed.  The Debtors'
confirmed chapter 11 Plan took effect on Nov. 17, 2004.

Albert Togut, Esq., at Togut Segal & Segal LLP, Brian S. Rosen,
Esq., Martin Soslan, Esq., Melanie Gray, Esq., Michael P.
Kessler, Esq., Sylvia Ann Mayer, Esq., at Weil, Gotshal & Manges
LLP, Frederick W.H. Carter, Esq., Michael Schatzow, Esq., Robert
L. Wilkins, Esq., at Venable, Baetjer and Howard, LLP, and Mark
C. Ellenberg, Esq., at Cadwalader, Wickersham & Taft, LLP
represent the Debtors.  Jeffrey K. Milton, Esq., Luc A. Despins,
Esq., Matthew Scott Barr, Esq., and Paul D. Malek, Esq., at
Milbank, Tweed, Hadley & McCloy LLP represents the Official
Committee of Unsecured Creditors.


FORD MOTOR: Continues Low-Level Contract Talks with UAW
-------------------------------------------------------
Ford Motor Co. has resumed low-level talks with the United Auto
Workers union, but company sources said union leaders have not
yet set a date to resume formal negotiations on new national
contract, Bryce G. Hoffman of The Detroit News reports.

As reported in the Troubled Company Reporter on Oct. 11, 2007,
General Motors Corp. confirmed that its UAW-represented
employees have ratified the GM-UAW 2007 national labor
agreement.  On Oct. 15, 2007, the UAW Chrysler Council, which
includes local union leaders from Chrysler facilities throughout
the United States, voted overwhelmingly to recommend
ratification of a new tentative labor agreement with Chrysler
reached on Oct. 10, 2007.

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.


GARLINGE SERVICES: Claims Filing Period Ends November 8
-------------------------------------------------------
Creditors of Garlinge Services Ltd. have until Nov. 8 to send in
their names, addresses and descriptions, full particulars of
their debts or claims, and the names and addresses of their
solicitors (if any) to:

         Peter Alan Kubik
         Joint Liquidator
         UHY Hacker Young
         St. Alphage House
         2 Fore Street
         London
         EC2Y 5DH
         England

Peter Alan Kubik and Andrew Andronikou of UHY Hacker Young were
appointed joint liquidators of the company on Oct. 4 for the
creditors' voluntary winding-up proceeding


GENERAL MOTORS: To Cut 767 Jobs at Hammtramck Plant in December
---------------------------------------------------------------
General Motors Corp. will initiate a lay-off program at the
Hamtramck assembly plant in Detroit, Michigan, in December 2007,
which will affect 767 workers, various reports say.

Due to the decline in sales, the assembly plant, which employs
1,847 hourly workers and manufactures Buick Lucerne and Cadillac
DTS sedans, will be fusing two shifts into one on Dec. 14, 2007.
The plant currently produces 40 cars per hour over two shifts.
After Jan. 2, 2008, the plant will manufacture 56 cars per hour
over one shift, sources report citing GM spokesman Tom Wickham.

Sales of the Cadillac DTS are down 14% this year, while sales of
the Lucerne have fallen 15%, sources disclosed referring to
Autodata Corp.

"The products are selling but the capacity is greater than the
demand," Mr. Wickham said.  "We have to make sure we don't have
too much inventory out there."

As reported in the Troubled Company Reporter on Sept. 27, 2007,
GM reached a labor deal with the United Auto Workers union,
bringing unprecedented job security with company commitments to
invest in new products for its existing U.S. facilities, as well
as a moratorium on plant closings and outsourcing of work over
the life of the agreement.  The UAW also was able to secure a
commitment to hire 3,000 temporary workers into full-time,
traditional employment.

Sources say that under the labor contract, the Hamtramck plant,
one of those who were promised jobs, will start production of a
crossover vehicle in 2009 and a midsize Chevrolet sedan in 2012.
The plant is expected to manufacture GM's planned electric
hybrid vehicle, the Chevrolet Volt, in 2010.

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 Oct. 17, 2007,
Standard & Poor's Ratings Services said that its long-term
ratings on General Motors Corp. remain on CreditWatch with
positive implications, where they were placed Sept. 26, 2007.
S&P placed the ratings on CreditWatch when GM and its main
union, the United Auto Workers, reached a tentative new labor
contract.  The UAW has since approved that contract, and GM
discussed the contract's economics.  S&P expect to resolve the
CreditWatch listing by Oct. 31, 2007.

As reported in the Troubled Company Reporter on Sept. 28, 2007,
Fitch Ratings has affirmed and removed the Issuer Default Rating
and debt ratings of General Motors from Rating Watch Negative
following the announcement that GM has reached an agreement on a
new contract with the United Auto Workers.   Fitch currently
rates GM as: IDR 'B'; Senior secured 'BB/RR1'; and Senior
unsecured 'B- /RR5'.  GM's Rating Outlook is Negative.


GENERAL MOTORS: New UAW Terms Cue Moody's Positive Outlook
----------------------------------------------------------
Moody's Investors Service changed the outlook of General Motors
Corporation's long-term-debt rating to positive from negative,
and also raised the company's speculative grade liquidity rating
to SGL-1 from SGL-3 following the company's announcement of the
terms of its new contract with the UAW.  GM's existing long-term
ratings -- including B3 corporate family, Ba3 senior secured,
and Caa1 senior unsecured -- are unchanged.  The ratings of GMAC
(senior rating of Ba1/Negative outlook) are also unaffected.

The positive outlook recognizes the substantial long-term cost
benefits of the new UAW contract, balanced against the
significant near-term product and revenue challenges the company
will continue to face during 2008 and 2009. Importantly, GM has
a substantial liquidity position consisting of US$30 billion in
cash and US$5.8 billion in long-term credit facilities.  This
liquidity position will provide ample financial flexibility
during the next two years as GM faces these challenges and moves
toward the 2010 period during which the substantial cost
benefits of the new UAW contract begin to take hold.

During the next 12 to 18 months if the company demonstrates the
capacity to make progress in addressing product and revenue
challenges -- stabilizing its share position, building market
acceptance of new products, maintaining a disciplined approach
toward the use of incentives, and limiting sales to the daily
rental segment -- its rating could be considered for possible
upgrade.  Such an action would recognize Moody's view that GM is
capable of making continuing progress in establishing a
competitive and sustainable business model, and taking full
advantage of the cost benefits that the UAW contract will afford
by 2010.  Any consideration for a possible upgrade would also
reflect Moody's expectation that GM is capable of generating
positive free cash flow, sustaining interest coverage exceeding
1x, and achieving EBITA margins approximating 2.5% during the
2009 time frame.

Bruce Clark, senior vice president with Moody's, said, "This
contract will help to significantly narrow the cost disadvantage
that GM has relative to Asian transplants.  Its various elements
could save the company as much as US$4 billion per year, and
lower wage and benefit costs by more than US$800 per vehicle."
However, Mr. Clark cautioned that "While the contract has some
truly transformational elements, meaningful cost benefits won't
begin to take hold until 2010, and GM will face a pretty tough
environment until then.  The company's biggest challenge will
remain on the revenue and product side -- producing automobiles
that consumers want and that are priced high enough to generate
a profit."

GM's new UAW contract could lay the groundwork to significantly
improve the company's long-term competitive position by allowing
a two-tier wage structure, altering the conditions for idled
worker participation in the JOBs bank program, and shifting
responsibility for retiree health care to a UAW-managed VEBA.
The two-tier wage structure could begin to yield moderate but
increasing benefits during 2009, and the changes to the JOBs
bank program will afford important flexibility to adjust
manufacturing capacity to market conditions.  The creation of
the UAW-managed VEBA would free GM from about US$3.5 billion in
annual retiree healthcare payments beginning in 2010.

However, during 2008 and 2009 there will be minimal operational
benefits from the contract, and GM will have to fund about
US$4 billion in upfront cash payments to implement the
agreement.  In addition, the company will have to contend with
considerable near-term market and competitive challenges.

These include: the ongoing pressure on its US share position;
the shift in North American consumer preference toward smaller
vehicles; a financially weak supplier base; and the competitive
pressures that force it to price its automobiles (as
distinguished from trucks and SUVs) several thousand dollars
less that similarly-equipped Asian vehicles.  In addition, the
US auto sector could face softening demand during 2008.  As a
result of these operational challenges, GM's key financial
metrics will likely remain weak during the coming year with
negative free cash flow, and interest coverage of less than 1x.

The increase in the speculative grade liquidity rating to SGL-1
recognizes that GM will have very strong sources of liquidity to
cover all cash requirements through 2008.  These sources include
about US$30 billion in cash and securities, and
US$5.8 billion in committed credit facilities with maturities
beyond 2009.  These sources should enable GM to comfortably fund
all cash requirements associated with the implementation of the
new UAW contract, restructuring expenditures to accelerate
hourly-worker attrition, debt maturities, and operating
requirements through 2009.

General Motors Corporation, headquartered in Detroit, is the
world's largest automaker, based on 2006 sales.


HAWTHORN VENTURES: Joint Liquidators Take Over Operations
---------------------------------------------------------
Stephen Robert Cork and Joanne Elizabeth Milner of Smith &
Williamson Ltd. were appointed joint liquidators of Hawthorn
Ventures Two Ltd. (formerly Sheene Mill Ltd.) on Aug. 11 for the
creditors' voluntary winding-up proceeding.

The joint liquidators can be reached at:

         Smith & Williamson Ltd.
         Prospect House
         2 Athenaeum Road
         London
         N20 9YU
         England


J & H BODY: Calls In Liquidators from Tenon Recovery
----------------------------------------------------
Carl Stuart Jackson and Duncan Robert Beat of Tenon Recovery
were appointed joint liquidators of J & H Body Repairs (Mayfair)
Ltd. on Sept. 14 for the creditors' voluntary winding-up
proceeding.

Mr. Jackson can be reached at:

         Tenon Recovery
         Highfield Court
         Tollgate
         Eastleigh
         Chandlers Ford
         Hampshire
         SO53 3TZ
         England

Mr. Beat can be reached at:

         Tenon Recovery
         Salisbury House
         31 Finsbury Circus
         London
         EC2M 5SQ
         England


LEVEL 3: Completes Purchase of AT&T Inc.'s BellSouth Assets
-----------------------------------------------------------
Level 3 Communications Inc.'s operating subsidiary has purchased
certain assets from AT&T Inc. that were divested as a result of
the merger between AT&T and BellSouth.  The acquired assets
consist of indefeasible rights of use for dark fiber connections
to 27 buildings as well as more than 450 metro fiber route miles
in the nine markets where AT&T was required to divest assets.

Level 3 has acquired divested fiber assets in Atlanta;
Birmingham, Alabama; Charlotte, North Carolina; Chattanooga,
Tennessee; Jacksonville, Florida; Knoxville, Tennessee;
Nashville, Tennessee; Orlando, Florida; and South Florida.

Under the terms of the agreement, Level 3 retains intermediate
splice rights, which will enable it to add new buildings to the
acquired assets.

"The purchase of these new assets further expands the metro
market reach of the Level 3 network," Raouf Abdel, president of
Level 3's Business Markets Group, said.  "The ability to add new
buildings and offer the full portfolio of Level 3 services in
each of these markets provides additional growth opportunities
and reinforces our commitment to providing customers with
facilities-based access to a comprehensive range of network
solutions.

"This acquisition does not require the type of integration
associated with recent metro and backbone transactions.  The
addition of these assets on favorable terms parallels Level 3's
previously announced acquisition of divested assets following
the merger of AT&T Corp. and SBC Communications Inc."

Headquartered in Broomfield, Colorado, Level 3 Communications
Inc. (Nasdaq: LVLT) -- http://www.level3.com/-- is an
international communications company.  The company provides a
comprehensive suite of services over its broadband fiber optic
network including Internet Protocol services, broadband
transport and infrastructure services, colocation services,
voice services and voice over IP services.  As of Dec. 31,
2006, the Company had around 73,000 intercity route miles in the
United States and Europe, connecting 16 countries.

                            *   *   *

As reported in the Troubled Company Reporter on Aug. 28, 2007,
Fitch has upgraded Level 3 Communications, Inc. (Nasdaq: LVLT)
and its wholly owned subsidiary Level 3 Financing, Inc.'s Issuer
Default Rating to 'B-' from 'CCC'.


MTI TECHNOLOGY: Files for Chapter 11 Bankruptcy Protection
----------------------------------------------------------
MTI Technology Corporation has filed for bankruptcy protection
pursuant to Chapter 11 of the U.S. Bankruptcy Code.

MTI expects its European operating subsidiaries to continue to
operate in the ordinary course of business pending court
approval of their sale to Zinc Holdings.

"After evaluating alternatives, we ultimately determined that
seeking protection for MTI in bankruptcy will provide us with
the best path to effect the sale of our corporate assets,
including the sale of our European operations, and the wind down
of our operations in an orderly fashion," Thomas P. Raimondi,
MTI's CEO and president, stated.

MTI intends to continue to cut costs in the United States,
including the completion of layoffs of the majority of its U.S.
workforce while seeking a possible buyer or buyers for all or
portions of its remaining assets.

After the completion of any such sales, MTI intends to liquidate
the remainder of its assets in appropriate bankruptcy
proceedings.

MTI does not believe that sufficient funds will be available
after the applicable bankruptcy sales and liquidation to fully
satisfy the claims of its secured and unsecured creditors.  As a
result, MTI's equity holders would not receive any funds from
the bankruptcy estate.  MTI intends to dissolve after the
completion of the applicable bankruptcy proceedings.

MTI also has entered into a definitive agreement with Zinc
Holdings to provide debtor in possession financing to MTI for a
limited period of time in connection with its bankruptcy
proceeding.  The proposed financing is also subject to court
approval and customary conditions.

All borrowings by MTI under the financing arrangement will
require the prior approval of The Canopy Group Inc., MTI's
primary pre-petition secured creditor and a significant
stockholder.

                      About MTI Technology

Headquartered in Irvine, California, MTI Technology Corporation
(OTC:MTIC) -- http://www.mti.com/-- is an information storage
infrastructure solutions provider that offers a range of storage
systems, software, services and solutions that are designed to
help organizations get more value from their information and
increase their information technology assets.  Through
Information Lifecycle Management, the company helps
organizations organize, protect, move and manage information.
The company is a reseller and service provider of EMC Automated
Networked Storage systems and software, pursuant to a reseller
agreement with EMC Corporation (NYSE:EMC), which is engaged in
information storage systems, software, networks and services.

At July 7, 2007, the company's balance sheet showed total assets
of US$64 million and total liabilities of US$81.8 million,
resulting to a total shareholders' deficit of US$17.8 million.

On June 22, 2007, Canopy modified its amended waiver and consent
which terminated the requirement to pay-down the indebtedness to
Comerica and extended their letter of credit guarantee through
Dec. 31, 2007.  In exchange for this waiver and consent
amendment, the company issued a warrant to Canopy to purchase an
additional 125,000 shares of its common stock at an exercise
price of US$0.37 per share, the market price on the date of
grant.  The warrant is exercisable immediately and has a five
year life.

The Comerica Bank loan agreement contains negative covenants
placing restrictions on the ability to engage in any business
other than the businesses currently engaged in, suffer or permit
a change in control, and merge with or acquire another entity.


MTI TECHNOLOGY: Case Summary & 19 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: M.T.I. Technology Corp.
        15641 Red Hill Avenue, Suite 200
        Tustin, CA 92780

Bankruptcy Case No.: 07-13347

Type of Business: The Debtor is a multi-national provider of
                  professional services and comprehensive data
                  storage solutions for mid- to large-sized
                  organizations.  See http://www.mti.com/

Chapter 11 Petition Date: October 15, 2007

Court: Central District Of California (Santa Ana)

Judge: Erithe A. Smith

Debtor's Counsel: Scott C. Clarkson, Esq.
                  Clarkson, Gore & Marsella, A.P.L.
                  3424 Carson Street, Suite 350
                  Torrance, CA 90503
                  Tel: (310) 542-0111
                  Fax: (310) 214-7254

Financial condition as of July 7, 2007:

   Total Assets: US$64,002,000

   Total Debts:  US$64,002,000

Debtor's 19 Largest Unsecured Creditors:

   Entity                     Nature of Claim      Claim Amount
   ------                     ---------------      ------------
E.M.C. Corp.                  trade debt           US$4,278,771
4246 Collections Center Drive
Chicago, IL 60693


Neoscale Systems, Inc.        trade debt             US$673,332
1655 McCarthy Boulevard
Milpitas, CA 95035


Edgar Saadi                   promissory note        US$402,059
Pencom Systems, Inc.          payable
40 Fulton Street
New York, NY 10038-5058

Wade Saadi                    promissory note        US$402,059
Pencom Systems, Inc.          payable
40 Fulton Street
New York, NY 10038-5058

American Express              trade debt             US$226,940

A.F.C.O. Premium Acceptance,  premium finance        US$215,953
Inc.                          agreement

                              trade debt              US$35,992

Pencom Systems, Inc.          promissory note payable US$176,389

Salesforce.com, Inc.           trade debt             US$132,717

Quantum Corp.                  trade debt             US$120,284

Lifeboat Distribution          trade debt             US$119,651

Grant Thornton, L.L.P.         trade debt             US$110,700

Avnet                          trade debt              US$99,837

K.P.M.G., L.L.P.               trade debt              US$81,675

Finiti, L.L.C.                 trade debt              US$55,772

C.C.S.                         trade debt              US$54,160

Info-X Technology Solutions    trade debt              US$44,063

Morrison & Foerster            trade debt              US$40,000

Compnology, Inc.               trade debt              US$35,200

Mid-Atlantic Corporate         trade debt              US$34,539
Services


MTI TECH: Selling European Units to Zinc Holdings for US$5.5 Mln
----------------------------------------------------------------
MTI Technology Corporation has reached a definitive agreement
with Zinc Holdings LLC, pursuant to which, subject to bankruptcy
court approval, Zinc Holdings will acquire MTI's European
operating subsidiaries for around US$5.5 million cash at
closing.

The sale of the European operating subsidiaries is expected to
close, pending court approval and other customary closing
conditions, in the fourth quarter of 2007.

Zinc Holdings LLC is a a private equity sponsored investment
group.

Headquartered in Irvine, California, MTI Technology Corporation
(OTC:MTIC) -- http://www.mti.com/-- is an information storage
infrastructure solutions provider that offers a range of storage
systems, software, services and solutions that are designed to
help organizations get more value from their information and
increase their information technology assets.  Through
Information Lifecycle Management, the company helps
organizations organize, protect, move and manage information.
The company is a reseller and service provider of EMC Automated
Networked Storage systems and software, pursuant to a reseller
agreement with EMC Corporation (NYSE:EMC), which is engaged in
information storage systems, software, networks and services.

At July 7, 2007, the company's balance sheet showed total assets
of US$64 million and total liabilities of US$81.8 million,
resulting to a total shareholders' deficit of US$17.8 million.

On June 22, 2007, Canopy modified its amended waiver and consent
which terminated the requirement to pay-down the indebtedness to
Comerica and extended their letter of credit guarantee through
Dec. 31, 2007.  In exchange for this waiver and consent
amendment, the company issued a warrant to Canopy to purchase an
additional 125,000 shares of its common stock at an exercise
price of US$0.37 per share, the market price on the date of
grant.  The warrant is exercisable immediately and has a five
year life.

The Comerica Bank loan agreement contains negative covenants
placing restrictions on the ability to engage in any business
other than the businesses currently engaged in, suffer or permit
a change in control, and merge with or acquire another entity.


NORTHERN ROCK: Bank of England Debt Reaches GBP16 Billion
---------------------------------------------------------
Northern Rock PLC borrowed another GBP3 billion from the Bank of
England last week, bringing its total debt to GBP16 billion, the
Financial Times reports.

In the week to Oct. 10, 2007, Northern Rock borrowed GBP2.3
billion after getting GBP2.9 billion the week before, FT
reveals.  This is the fifth week since the mortgage lender
approached the Bank of England for financial assistance, drawing
down billions of pounds weekly.

Northern Rock is relying heavily on its borrowings from the bank
because it has GBP14 billion of short- and medium-term funding
due to refinance in the next 12 months, FT observes.

As reported in the Troubled Company Reporter-Europe on Oct. 12,
2007, the British government has extended the guarantee
arrangements previously announced to protect existing depositors
of Northern Rock.  These arrangements will cover all retail
deposits including future interest payments, movements of funds
between accounts and term deposits for the duration of their
term.

As under the original arrangements, these extended guarantee
arrangements will supplement, and not replace, any compensation
provided by the Financial Services Compensation Scheme, which
the Financial Services Authority has recently extended to cover
100% of the first GBP35,000 of deposits.

The bank will pay an appropriate fee for the extension of the
arrangements which is designed to ensure it does not receive a
commercial advantage. As previously announced, the arrangements
to protect depositors of Northern Rock will remain in place
during the current instability in the financial markets.

                     About Northern Rock plc

Headquartered in Newcastle upon Tyne, England, Northern Rock plc
-- http://www.northernrock.co.uk/mortgages/-- is currently the
5th largest UK mortgage lender, the largest financial
institution based in the North East of England and one of the
most cost efficient UK mortgage lenders based on key performance
ratios.  The company had more than US$200 billion in assets at
the end of June 2007.

                          *     *     *

As reported in the TCR-Europe on Sept. 28, 2007, Standard &
Poor's Ratings Services placed its 'A-/A-1'
counterparty credit ratings on U.K. bank Northern Rock PLC on
CreditWatch with developing implications.  At the same time, the
'BBB' subordinated, 'BB' junior subordinated, and 'A-' senior
unsecured debt ratings were placed on CreditWatch with
developing implications.


NORTHERN ROCK: Virgin Group Expects Takeover Response Next Week
---------------------------------------------------------------
Virgin Group Ltd.'s Richard Branson, along with an international
group of investors, expects Northern Rock Plc to respond to its
multi-billion pound takeover plan by next week, Jeffrey Jones
writes for Reuters.

According to the report, Mr. Branson hopes that the plan would
result to Northern Rock shareholders benefiting in the new
organization, adding that the proposal will see Virgin Money
preserving all the jobs at Northern Rock.

The consortium plans to incorporate the troubled mortgage lender
into Virgin Money.  Reuters says Northern Rock will retain its
public listing under the Virgin Money name or possibly, Mr.
Branson says, "Virgin Rocks".

"I think that Virgin Money could save this bank," Mr. Branson
was quoted by Reuters in an interview in Calgary, Alberta.
"Virgin Money would reverse into the current public company...
We're obviously hopeful the current shareholders will benefit
from taking shares in the brand that is the No. 1 most respected
brand in the U.K., and all the expertise that goes with that,"
he added.

In a TCR-Europe report on Oct. 16, 2007, citing the Wall Street
Journal as its source, Virgin Group has lined up insurance giant
American International Group Inc. and U.S.-based turnaround
specialist WL Ross & Co., an investment firm run by Wilbur Ross
to be part of the consortium.  British hedge fund Toscafund
Asset Management LLP, run by former Royal Bank of Scotland Group
PLC executives, and First Eastern Investment Group, of Hong
Kong, are also joining the pool of investors.

                     About Northern Rock plc

Headquartered in Newcastle upon Tyne, England, Northern Rock plc
-- http://www.northernrock.co.uk/mortgages/-- is currently the
5th largest UK mortgage lender, the largest financial
institution based in the North East of England and one of the
most cost efficient UK mortgage lenders based on key performance
ratios.  The company had more than US$200 billion in assets at
the end of June 2007.

                          *     *     *

As reported in the TCR-Europe on Sept. 28, 2007, Standard &
Poor's Ratings Services placed its 'A-/A-1'
counterparty credit ratings on U.K. bank Northern Rock PLC on
CreditWatch with developing implications.  At the same time, the
'BBB' subordinated, 'BB' junior subordinated, and 'A-' senior
unsecured debt ratings were placed on CreditWatch with
developing implications.


NORTHERN ROCK: MPs Want Executives to Resign Due to Incompetence
----------------------------------------------------------------
Members of Parliament rebuked Northern Rock PLC executives for
alleged arrogance and incompetence, accusing the board of
“clinging to office” after destroying the bank, during a three-
hour hearing on Tuesday, The Financial Times states.

The MPs called for a hearing to investigate why Northern Rock
found itself on the brink of collapse and was forced to go to
the Bank of England for GBP13 billion of emergency funding, FT
relates.

Matt Ridley and Adam Applegarth, Northern Rock’s chairman and
chief executive, have twice offered to resign since the banking
crisis broke, FT reveals.

The Northern Rock bankers insisted that they were victims of an
“unprecedented and unpredictable” global credit squeeze.  The
MPs did not buy their denials of culpability, however, calling
the executives “arrogant and in denial” and demanding they must
admit responsibility for the crisis and resign from office, FT
reports.

Alistair Darling, Chancellor to the Treasury, is slated to
appear before the MPs next week to explain the Treasury's role
in the Northern Rock debacle, FT says.

Meanwhile, Northern Rock’s management suggested during the
hearing that talks with an unnamed party -- thought to be Lloyds
TSB -- broke down on Sept. 10, 2007, because the Bank of England
refused to offer a backstop facility, FT relates.

In response, the bank issued a statement on Tuesday clarifying
that it was approached on the weekend of Sept. 8-9, 2007, by a
potential bidder wanting loans of up to GBP30 billion, without a
penalty rate of interest for over one to two years as part of
the deal, FT reports.

“The authorities including the Bank of England recognized the
advantages of a takeover.  They also agreed that in the
circumstances it would be inappropriate to help finance a bid by
one bank for another,” the Bank of England said in the
statement, FT notes.  The bank further said that granting that
loan with very generous terms would have broken rules on central
banks offering state aid.

After the bank denied the loan request, talks between Northern
Rock and Lloyds fizzled on Sept. 10, 2007, and the mortgage
lender requested for emergency funding from the Bank of England
on Sept. 13, 2007, FT states.

                     About Northern Rock plc

Headquartered in Newcastle upon Tyne, England, Northern Rock plc
-- http://www.northernrock.co.uk/mortgages/-- is currently the
5th largest UK mortgage lender, the largest financial
institution based in the North East of England and one of the
most cost efficient UK mortgage lenders based on key performance
ratios.  The company had more than US$200 billion in assets at
the end of June 2007.

                          *     *     *

As reported in the TCR-Europe on Sept. 28, 2007, Standard &
Poor's Ratings Services placed its 'A-/A-1'
counterparty credit ratings on U.K. bank Northern Rock PLC on
CreditWatch with developing implications.  At the same time, the
'BBB' subordinated, 'BB' junior subordinated, and 'A-' senior
unsecured debt ratings were placed on CreditWatch with
developing implications.


POPE & TALBOT: Further Extends Lender Pact on Covenant Default
--------------------------------------------------------------
Pope & Talbot Inc. has agreed to a further extension of its
forbearance agreement with its senior secured lenders.  The
agreement will extend the company's access to liquidity provided
by the revolving credit facility through Oct. 26, 2007.  The
company will use this additional time to continue to explore
options for improving its balance sheet, including, but not
limited to, the sale of certain or all of the company's assets.

As reported in the Troubled Company Reporter on Aug. 8, 2007,
Pope & Talbot disclosed, in a regulatory filing with the
U.S. Securities and Exchange Commission, that, along with its
wholly owned Canadian subsidiary, Pope & Talbot Ltd., it entered
into a forbearance agreement dated as of July 31, 2007, with
Ableco Finance LLC, Wells Fargo Financial Corporation Canada and
the other lenders under the company's senior secured credit
agreement.

The company is in default of the covenant in its senior secured
credit agreement that required the company to generate EBITDA of
at least US$30 million for the four-quarter period ended
June 30, 2007.  The company expected to be out of compliance
with this covenant and disclosed that expectation in its
Quarterly Report on Form 10-Q for the quarter ended March 31,
2007.

Under the Agreement, the senior lenders have agreed that, until
Sept. 17, 2007 or the earlier occurrence of another default,
they will forbear from exercising any rights or remedies they
may have under the credit agreement arising from the Specified
Default, and will permit the company to continue to borrow under
the revolving credit facility subject to all other terms and
conditions of the credit agreement.

As previously reported, Pope & Talbot agreed to an extension of
its forbearance agreement with its senior secured lenders on
Sept. 17, 2007.

                       About Pope & Talbot

Pope & Talbot Inc. (NYSE: POP) -- http://www.poptal.com/-- is
a pulp and wood products company.  The company is based in
Portland, Oregon.  The company was founded in 1849 and produces
market pulp and softwood lumber at mills in the U.S. and Canada.
Markets for the company's products include the U.S., Europe,
Canada, South America, and the Pacific Rim.

                       Going Concern Doubt

As reported in the Troubled Company Reporter on April 12, 2007,
KPMG LLP expressed substantial doubt on Pope & Talbot Inc.'s
ability to continue as a going concern after auditing the
company's financial statements for the year ended Dec. 31, 2006.
The auditing firm pointed to the company significant borrowings
and the uncertainty over the company's ability to comply with
the financial covenants in future periods.


REMY WORLDWIDE: Wants to Employ AP Services as Crisis Manager
-------------------------------------------------------------
Remy Worldwide Holdings Inc. and its debtor-affiliates ask
authority from the U.S. Bankruptcy Court for the District of
Delaware to:

   (a) employ AP Services, LLC, as their crisis managers
       effective as of the Effective Date; and

   (b) designate David C. Johnston as assistant treasurer of
       Remy International Inc.

The Debtors assert that APS' experience in providing crisis
management services to financially-troubled organizations for
over 20 years qualifies the firm for the contemplated services
it will perform on the Debtors' behalf.  Furthermore, Mr.
Johnston has held a variety of restructuring management and
advisory leadership roles during his 10-year tenure with APS'
affiliate, AlixPartners.

Pursuant to an Engagement Letter between the Debtors and APS
dated Sept. 25, 2007, Mr. Johnston will serve as Remy
International's assistant treasurer under the direct supervision
of Remy International's chief executive officer.

As Remy International's assistant treasurer, Mr. Johnston will:

   -- collaborate with the senior management team composed of
      Remy's Board of Directors and the Debtors' other
      professionals in assisting the Debtors in evaluating
      strategic and tactical options through the restructuring
      process;

   -- oversee elements of Remy's Treasury and Cash Management
      functions; and

   -- assist the CEO and the Chief Financial Officer in
      developing improved financial reporting and timelier
      decision-making information.

The Debtors will pay for APS' full time Temporary Staff at these
hourly rates:

         Professional               Hourly Rate
         ------------               -----------
         Managing Directors        $600 to $750
         Directors                 $440 to $575
         Vice-Presidents           $325 to $450
         Associates                $260 to $315
         Analysts                  $210 to $230
         Paraprofessionals         $100 to $175

Based on APS' billing schedule, Mr. Johnston, designated as
full-time Assistant Treasurer, will be compensated with an
hourly rate of $525.

Aside from providing full-time Temporary Staff, APS will
occasionally use part-time temporary staff for certain Chapter
11-related activities, Kenneth J. Enos, Esq., at Young Conaway
Stargatt & Taylor, LLP, in Wilmington, Delaware, tells the
Court.  The Debtors will be billed for services provided by the
part-time Temporary Staff for hours worked at hourly rates
similar to those of the full-time Temporary Staff.

Among other things, the part-time Temporary Staff may be tasked
to:

   (a) prepare short-term cash flow and liquidity forecasts for
       domestic and international operations;

   (b) assist in the preparation and monitoring of business
       plans and forecasts;

   (c) evaluate Remy's relationship with significant customers,
       development strategies to address customer issues, and
       negotiations for improvements in pricing, product
       specifications, payment terms and other elements
       affecting the company's cash flow;

   (d) develop information for Remy's prepackaged Chapter 11
       filing, through:

       -- compiling required information for the Chapter 11
          petition and other required forms;

       -- assisting the Accounting Department with related
          issues like cutoff and segregation of prepetition
          and postpetition activity; and

       -- assisting counsel with information and analysis
          to support "first day" motions; and

   (e) after the Chapter 11 filing, assist:

       -- the Debtors in managing their bankruptcy process,
          including working with and coordinating the efforts
          of other professionals representing the Debtors'
          various stakeholders;

       -- in preparing information required by the Bankruptcy
          Court, including schedules of assets and
          liabilities, statement of financial affairs and
          monthly operating reports;

       -- in managing supplier relationships to help ensure
          continuation of deliveries and receipt of credit
          terms; and

       -- in tasks like reconciling, managing, and negotiating
          claims, evaluating preferences and the like and in
          supporting the Debtors' positions with respect to
          various Court motions.

David Rawden, an independent contractor of APS, will perform
certain accounting and finance functions for the Debtors.  Mr.
Rawden was formerly a managing director of AlixPartners, with
over 25 years of accounting, finance and restructuring
experience.  Mr. Rawden was a former chief financial officer for
several manufacturing companies, including a $1 billion
automotive supplier.

APS is billing the Debtors for Mr. Rawden's services at a fixed
monthly rate of $100,000, which is equal to or less than the
comparable hourly rate that the firm charges for its own
employees who are managing directors, according to Mr. Enos.

The APS professionals contemplated to be employed by the Debtors
and their fees are:

                                         Hourly
  Name              Description          Rate      Commitment
  ----              -----------         --------   ----------
  David C. Johnston Assistant Treasurer     $525   Full-Time
  Alan Holtz        Engagement Leader       $675   Part-Time
  Jason Muskovich   Int'l. Cash Mgmt.       $520   Full-Time
  Henry Colvin      Case Management         $495   Full-Time
  Kyle Braden       Vendor Management       $475   Full-Time
  Brent Robison     Int'l. Cash Mgmt.       $440   Full-Time
  Nishit Shah       Case Management         $315   Full-Time
  Jarod Clarrey     Case Management         $230   Full-Time

The Debtors will also reimburse APS of necessary out-of-pocket
expenses incurred in connection with their Chapter 11 cases,
including travel, lodging, postage and telephone charges.

APS intends to submit to the Court quarterly reports of
compensation earned.

In addition to the hourly fees, APS and the Debtors agree that
in the event of a meaningful and appropriate milestone, APS will
receive a $1,000,000 Success Fee.  The fee is intended to
reflect the alignment of both parties' interests.

Under the Engagement Letter, the Debtors agree to indemnify,
hold harmless, and defend APS and its affiliates against all
claims, liabilities, losses, damages, and reasonable expenses as
they are incurred, including reasonable legal fees and
disbursements of counsel.

Without prejudice to these rights, APS waives indemnification of
itself as an entity.  Indemnification of APS personnel who are
not officers of the Debtors will be subject to the approval of
Remy International's Board of Directors.

The Debtors assert that they will use reasonable efforts to
include and cover Temporary Staff serving as their officers from
time to time, as insureds under the Debtors' policy for
directors' and officers' insurance.  The Debtors will maintain
the D&O Insurance coverage for the period through which claims
can be made against those persons.

Alan D. Holtz, a managing director at APS, declares that none of
APS' principals, employees, agents, or affiliates have any
connection with the Debtors, their creditors, the U.S. Trustee,
or any other party, with an actual potential interest in the
Debtors' Chapter 11 cases.

Mr. Holtz relates that APS has represented Angelo Gordon, AT&T
Corp., Bear Stearns, BellSouth, Blue Diamond, Bombardier Inc.,
Caterpillar, Citicorp Del-Lease, Credit Suisse First Boston,
DaimlerChrysler, Deloitte & Touche, Fiat, Ford, General Motors
Corp., Honda, Morgan Stanley, among others, in matters unrelated
to the Debtors.

                      About Remy Worldwide

Based in Anderson, Indiana, Remy Worldwide Holdings Inc. acts as
a holding company of all the outstanding capital stock of Remy
International Inc.  Remy International --http://www.remyinc.com/
-- manufactures, remanufactures and distributes Delco Remy brand
heavy-duty systems and Remy brand starters and alternators,
locomotive products and hybrid power technology.  The company
also provides a worldwide components core-exchange service for
automobiles, light trucks, medium and heavy-duty trucks and
other heavy-duty, off-road and industrial applications.  Remy
has operations in the United Kingdom, Mexico and Korea, among
others.

The company and its debtor-affiliates filed for Chapter 11
protection on Oct. 8, 2007 (Bankr. D. Del. Cases No. 07-11481 to
07-11509).  Douglas P. Bartner, Esq., Fredric Sosnick, Esq., and
Michael H. Torkin, Esq., at Shearman & Sterling LLP, represent
the Debtors' in their restructuring efforts.  Pauline K. Morgan,
Esq., Edmon L. Morton, Esq., and Kenneth J. Enos, Esq., at Young
Conaway Stargatt & Taylor, LLP, serve as co-counsels to the
Debtors.  The Debtors' claims agent is Kurtzman Carson
Consultants LLC and their restructuring advisor is
AlixPartners, LLC.

At Sept. 30, 2006, Remy Worldwide's balance sheet showed total
assets of $919,736,000 and total liabilities of $1,265,648,000.
(Remy Bankruptcy News; Issue No. 4, Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


REMY WORLDWIDE: Wants to Assume Caterpillar Inventory Agreement
---------------------------------------------------------------
Remy Worldwide Holdings Inc. and its debtor-affiliates ask
authority from the U.S. Bankruptcy Court for the District of
Delaware to assume an inventory purchase agreement with
Caterpillar Inc.

The Debtors sold their diesel engine remanufacturing business to
Caterpillar for roughly $158 million, pursuant to an asset
purchase agreement dated Jan. 29, 2007.  The Debtors also
entered into outsourcing agreements with Caterpillar, which will
become the Debtors' exclusive supplier of remanufactured heavy
duty starters and alternators.  Caterpillar would acquire
certain machinery and equipment related to the heavy duty
starter and alternator remanufacturing business.

The initial closing occurred June 25, 2007.  On the same day,
the parties amended the Asset Purchase Agreement to provide, for
among other things, the Debtors' sale, for $7.16 million,
certain inventory, machinery, equipment and other assets used
designing, remanufacturing, assembling, testing, marketing and
selling remanufactured heavy duty rotating electrics, including
starters and alternators in North America through the Debtors'
facilities in Mississippi.

Kenneth J. Enos, Esq., at Young Conaway Stargatt & Taylor, LLP,
in Wilmington, Delaware, the Debtors' proposed co-counsel, told
the Court that under a related inventory purchase agreement,
Remy Reman, L.L.C. and Remy International, Inc., would sell to
Caterpillar Reman Acquisition Two LLC:

   1. alternator core work-in-process inventory having an
      aggregate purchase price of $87,000;

   2. alternator new parts having an aggregate purchase price
      of $1.28 million;

   3. starter core inventory having aggregate value of
      $2,421,000;

   4. starter core work-in-process inventory having an
      aggregate purchase price of $2.29 million; and

   5. starter new parts having an aggregate purchase price of
      $748,000.

Mr. Enos says the Inventory Purchase Agreement contemplates the
transfer of Inventory aggregating roughly $6.80 million.

The Inventory Purchase Agreement also provides that Caterpillar
may elect to adjust purchase prices for the starter core
inventory using the per unit market value of the Purchased
Inventory as determined using a methodology agreed to between
the parties.  If either party disagrees with the adjusted
inventory value for the starter core inventory, the parties will
resolve the disagreement using dispute resolution process
applicable to alternator core inventory set forth in the Asset
Purchase Agreement.

Mr. Enos said the purchase price does not include any sales,
use, excise or other taxes that the Debtors may be required to
pay in connection with the Inventory sale.  The amount of any
applicable present or future tax will be paid by Caterpillar as
an additional charge or, in lieu of that, Caterpillar will
provide the Debtors with a tax exemption certificate acceptable
to the relevant taxing authorities.

The parties also agreed to certain indemnification provisions.

The Debtors further ssought permission to continue the transfer
of the remainder of the Purchased Inventory, free and clear of
all liens, claims and encumbrances.

Assumption of the Inventory Purchase Agreement is in the best
interest of the Debtors, their estates and creditors, Mr. Enos
contended.  He explained that the sale will result in lower
product costs for the Debtors and represented the highest or
otherwise best offer for the Purchased Assets.

Mr. Enos also asserted that the the sale of the remainder of the
Purchased Inventory is an integral part of the Caterpillar
transaction, which has been substantially consummated.

The purchase price, Mr. Enos said, was determined after good
faith, arm's-length negotiations.  "Accordingly, the Debtors
will realize consideration for the Purchased Assets and the
Remainder of the Purchased Inventory that will be fair and
reasonable," Mr. Enos maintained.

                      About Remy Worldwide

Based in Anderson, Indiana, Remy Worldwide Holdings Inc. acts as
a holding company of all the outstanding capital stock of Remy
International Inc.  Remy International --http://www.remyinc.com/
-- manufactures, remanufactures and distributes Delco Remy brand
heavy-duty systems and Remy brand starters and alternators,
locomotive products and hybrid power technology.  The company
also provides a worldwide components core-exchange service for
automobiles, light trucks, medium and heavy-duty trucks and
other heavy-duty, off-road and industrial applications.  Remy
has operations in the United Kingdom, Mexico and Korea, among
others.

The company and its debtor-affiliates filed for Chapter 11
protection on Oct. 8, 2007 (Bankr. D. Del. Cases No. 07-11481 to
07-11509).  Douglas P. Bartner, Esq., Fredric Sosnick, Esq., and
Michael H. Torkin, Esq., at Shearman & Sterling LLP, represent
the Debtors' in their restructuring efforts.  Pauline K. Morgan,
Esq., Edmon L. Morton, Esq., and Kenneth J. Enos, Esq., at Young
Conaway Stargatt & Taylor, LLP, serve as co-counsels to the
Debtors.  The Debtors' claims agent is Kurtzman Carson
Consultants LLC and their restructuring advisor is
AlixPartners, LLC.

At Sept. 30, 2006, Remy Worldwide's balance sheet showed total
assets of $919,736,000 and total liabilities of $1,265,648,000.
(Remy Bankruptcy News; Issue No. 3, Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000).


SCO GROUP: Files Schedules of Assets and Liabilities
----------------------------------------------------
The SCO Group Inc. submitted to the U.S. Bankruptcy Court for
the District of Delaware its schedules of assets and
liabilities, disclosing:

     Name of Schedule                Assets      Liabilities
     ----------------              ----------    -----------
  A. Real Property
  B. Personal Property             US$4,772,875
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims
  E. Creditors Holding
     Unsecured Priority
     Claims
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        2,141,258
                                   ----------    -----------
     TOTAL                         US$4,772,875  US$2,141,258

                    SCO Operations' Schedules

In a separate filing, SCO Operations Inc., a debtor-affiliate,
also filed its schedules of assets and liabilities, disclosing:

     Name of Schedule                Assets      Liabilities
     ----------------              ----------    -----------
  A. Real Property
  B. Personal Property             US$9,549,519
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims
  E. Creditors Holding
     Unsecured Priority
     Claims                                       US$484,514
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        2,533,975
                                   ----------    -----------
     TOTAL                         US$9,549,519   US$3,018,489

Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX)
fka Caldera International Inc. -- http://www.sco.com/--
provides software technology for distributed, embedded and
network-based systems, offering SCO OpenServer for small to
medium business and UnixWare for enterprise applications and
digital network services.  The company has office locations in
Australia, Austria, Argentina, Brazil, China, Japan, Poland,
Russia, the United Kingdom, among others.

The company and its affiliate, SCO Operations Inc., filed for
Chapter 11 protection on Sept. 14, 2007, (Bankr. D. Del. Lead
Case No. 07-11337).  Paul Steven Singerman, Esq., and Arthur
Spector, Esq., at Berger Singerman P.A., represent the Debtors.
James O’Neill Esq., and Laura Davis Jones, Esq., at Pachulski
Stang Ziehl & Jones LLP, is the Debtors' local counsel.  Epiq
Bankruptcy Solutions, LLC, acts as the Debtors' claims and
noticing agent.  An Official Committee of Unsecured Creditors
has yet to be appointed in these cases by the Office of the
United States Trustee.  The Debtors' exclusive period to file a
chapter 11 plan expires on March 12, 2008.


SCO Group: Terminates 16 Employees; Wants Names Filed Under Seal
----------------------------------------------------------------
In a filing with the U.S. Bankruptcy Court for the District of
Delaware, SCO Group Inc. and SCO Operations Inc. disclosed that
they were terminating 16 of their 123 employees.

The Debtors, in this regard, ask the Court for authority to
continue their prepetition severance policy and payment of
severance and accrued benefits to the terminated employees.  The
Debtors say that to filing bankruptcy, they had a severance
policy generally applicable to all full-time employees
terminated without cause.

At the same time, the Debtors also ask the Court that copies of
their severance policy as well as the names and specific
severance amounts to be paid to terminated employees be filed
under seal.  The Debtors contend that the information contained
in these documents consitute  confidential information that is
not in the public realm.

The Debtors fear that their current employees as well as the
identified terminated employees may experience harrasment from
other companies in the Debtors' industry.  The Debtors further
argue that "poaching" of the remaining employees by competitors
may occur if the information is made public.

Headquartered in Lindon, Utah, The SCO Group Inc. (Nasdaq: SCOX)
fka Caldera International Inc. -- http://www.sco.com/--
provides software technology for distributed, embedded and
network-based systems, offering SCO OpenServer for small to
medium business and UnixWare for enterprise applications and
digital network services.  The company has office locations in
Australia, Austria, Argentina, Brazil, China, Japan, Poland,
Russia, the United Kingdom, among others.

The company and its affiliate, SCO Operations Inc., filed for
Chapter 11 protection on Sept. 14, 2007, (Bankr. D. Del. Lead
Case No. 07-11337).  Paul Steven Singerman, Esq., and Arthur
Spector, Esq., at Berger Singerman P.A., represent the Debtors.
James O’Neill Esq., and Laura Davis Jones, Esq., at Pachulski
Stang Ziehl & Jones LLP, is the Debtors' local counsel.  Epiq
Bankruptcy Solutions, LLC, acts as the Debtors' claims and
noticing agent.  An Official Committee of Unsecured Creditors
has yet to be appointed in these cases by the Office of the
United States Trustee.  The Debtors' exclusive period to file a
chapter 11 plan expires on March 12, 2008.


SUN MICROSYSTEMS: Spares Scottish Unit from Worldwide Job Cuts
--------------------------------------------------------------
Sun Microsystems Inc. has confirmed that there will be no job
cuts at its Scottish unit in Linlithgow, amid plans to eliminate
approximately 1,500 jobs across the US, Canada, Europe and Asia,
Mark Smith writes for the Herald.

"I can assure you that the number of jobs to be lost at
Linlithgow is zero.  I personally sent a letter to staff just
the other day confirming that was the case," Hugh Aitken, who
heads the Scottish unit at Linlithgow, West Lothian, was quoted
by the Herald as saying.  "There may be one or maybe two sales
or marketing people who are part of the UK-wide operation and
are based at Linlithgow, and they may be part of the cuts.  But
as far as our workers go, the cuts will be zero."

Mr. Aitken told the paper around 90 of the cuts would come from
UK Sun.

According to a company spokeswoman, Sun "is executing against a
restructuring plan to better align the company's resources with
its strategic business objectives."

Sun has invested a total of US$300 million at its Linlithgow
plant, which employs 620 full-time staff, the Herald relates.

                  About Sun Microsystems Inc.

Headquartered in Santa Clara, California, Sun Microsystems Inc.
(NASDAQ: SUNW) -- http://www.sun.com/-- provides network
computing infrastructure solutions that include computer
systems, data management, support services and client solutions
and educational services.  It sells networking solutions,
including products and services, in most major markets worldwide
through a combination of direct and indirect channels.

Sun Microsystems conducts business in 100 countries around the
globe, including Brazil, Argentina, India, Hungary, United
Kingdom, among others.

                         *     *     *

Sun Microsystems Inc. carries Moody's "Ba1" probability of
default and long-term corporate family ratings with a stable
outlook.  The ratings were placed on Sept. 22, 2006, and
Sept. 22, 2005, respectively.

Sun Microsystems also carries Standard & Poor's "BB+" long-term
foreign and local issuer credit ratings, which were placed on
March 5, 2004, with a stable outlook.


TATA MOTORS: To Consider July-Sept. 2006 Results on Oct. 31
-----------------------------------------------------------
Tata Motors Limited's board of directors will hold a meeting on
Oct. 31, 2007, to consider, inter alia, the company's audited
results for the half year and second quarter ended Sept. 30,
2007, a company release disclosed.

In the quarter ended June 30, 2007, Tata Motors reported a net
profit of INR466.76 crore, a 22% increase compared to the same
quarter in 2006.

India's largest automobile company, Tata Motors Limited --
http://www.tatamotors.com/-- is mainly engaged in the business
of automobile products consisting of all types of commercial and
passenger vehicles, including financing of the vehicles sold by
the Company.  The Company's operating segments consists of
Automotive and Others.  In addition to its automotive products,
it offers construction equipment, engineering solutions and
software operations.

Tata Motors has operations in Russia, and the United Kingdom.

                          *     *     *

Standard & Poor's Ratings Services, on July 13, 2007, assigned
its 'BB+' issue rating to the proposed US$490 million zero-
coupon convertible bonds of India's Tata Motors Ltd.
(BB+/Stable/--).  The bonds represent a direct, unsecured and
unsubordinated obligation of the company.  Proceeds from the
bonds will be used for capital expenditure, overseas
investments, acquisitions, and other general corporate purposes.

Moody's Investors Service, on July 26, 2005, gave Tata Motors
'Ba1' long-term corporate family and senior unsecured debt
ratings.


VISTEON CORP: Selling Largest UK Operation to Linamar
-----------------------------------------------------
Visteon Corporation has signed a non-binding Memorandum of
Understanding outlining the understanding and status of
discussions regarding the sale of its Swansea, United Kingdom
operation to Linamar Corporation, a Canadian- based auto parts
manufacturer.

The proposed sale, which supports Visteon's three-year
improvement plan, is subject to due diligence, certain third
party agreements, definitive documentation, anti-trust clearance
and corporate approvals.

The proposed sale of the Swansea facility, which is Visteon's
largest operation in the UK, will be a significant milestone in
the company's plan to address non-core facilities and improve
its financial performance.  Visteon recently disclosed that
Visteon UK Limited lost approximately US$110 million on revenue
of US$540 million during 2006.

"This transaction will represent another major step to achieve
Visteon's profit improvement plan, while continuing to
strengthen our global engineering and manufacturing footprint,"
said Donald J. Stebbins, Visteon president and chief operating
officer.  "We are committed to working with our customers,
employees, unions and Linamar to reach final agreements and
bring the transaction to closure as quickly as possible."

This action, which will complete the company's divestiture of
its chassis business, builds on the progress already made in
addressing its performance in the UK.  Visteon previously exited
its brake business, successfully transferred unprofitable
business to lower cost countries, and significantly reduced its
salaried workforce in the UK.

As part of the proposed transaction, which is expected to be
completed by year end, Visteon will transfer the manufacturing
facility and associated assets, as well as contracts and certain
intellectual property rights.  The 400 employees currently
employed in the facility are also expected to transfer to the
new owner. Other details of the MOU were not disclosed.

"When finalized, this proposed transaction will provide a viable
alternative to closure for the Swansea facility, while enabling
Visteon to achieve its business objectives," said Steve Gawne,
managing director of Visteon's UK operations.  "The Swansea
plant will be a strong strategic fit within Linamar's expanding
driveline division."

This proposed transaction also builds on Visteon's three-year
improvement plan that was announced in 2006.  As part of that
plan, the company is addressing 30 underperforming and non-
strategic operations, improving its base operations in
efficiency and taking a number of steps to grow the business.
The proposed sale of Swansea is the 20th action announced.  The
restructuring actions are expected to generate annual savings of
approximately US$400 million.

The company has also achieved a number of other significant
milestones, including addressing two-thirds of its restructuring
items and significantly shifting its manufacturing and
engineering footprints to cost-competitive countries.  Nearly 60
percent of Visteon's hourly manufacturing personnel are now in
lower cost countries, compared with 48 percent at the end of
2005.  By 2009, Visteon plans to have 75 percent of its
manufacturing personnel and half of its engineering workforce in
cost-competitive countries.

Based in Van Buren Township, Michigan, Visteon Corp. (NYSE: VC)
-- http://www.visteon.com/-- is a global automotive supplier
that designs, engineers and manufactures innovative climate,
interior, electronic, and lighting products for vehicle
manufacturers, and also provides a range of products and
services to aftermarket customers.  The company has more than
170 facilities in 24 countries and employs around 50,000 people.

With corporate offices in the Michigan (U.S.); Shanghai, China;
and Kerpen, Germany; the company has more than 170 facilities in
24 countries, including Mexico and India, and employs
approximately 50,000 people.

                            *   *   *

As reported in the Troubled Company Reporter on April 10, 2007,
Fitch Ratings has taken these actions regarding the ratings of
Visteon Corp.: Issuer Default Rating affirmed 'CCC'; Senior
Secured Bank Facility affirmed 'B/RR1'; and Senior unsecured
downgraded to 'CC/RR6' from 'CCC-/RR5'.


WATERFORD WEDGWOOD: Eyes EUR50 Mln Preference Shares Placement
--------------------------------------------------------------
Waterford Wedgwood plc held its annual general meeting on
Oct. 11, 2007 at Dublin, Ireland.

At the AGM, the group gave an update on current trading,
restructuring and the placing of preference shares, the issue of
which was previously approved by shareholders.

"The two best investments we have made in this company have been
the EUR90 million restructuring of existing operations and the
purchase of a factory outside Jakarta.  One of the great
benefits of manufacturing in Indonesia is that the dollar is the
currency of choice, which almost totally eliminates our currency
exposure from Jakarta," Sir Anthony O'Reilly, chairman of
Waterford Wedgwood plc, said.  "The substantial financial
improvement in the year under review gave us our first year of
positive earnings for three years and this upward trend can and
must be sustained."

The group is in final talks to place EUR50 million of preference
shares with a major international institutional investor.  Mr.
O'Reilly and Peter John Goulandris, deputy chairman, have also
applied for a further EUR17 million of preference shares,
subject to the expiration of the closed period, and that the
company is confident of placing a further EUR33 million with
investors.

"I think this is a remarkable achievement in these current
turbulent financial markets.  This new money will be used for
the final root and branch restructuring of our business.  We
must, where possible, and cognizant of our heritage and brands,
significantly reduce our manufacturing costs.  The restructuring
measures must be achieved before the end of the current fiscal
year," Mr. O'Reilly added.

The capital injection announced in early April was not finalized
until early July.  This affected production and sales in the six
months to the end of September.  Total sales, therefore, will be
down by about 7% at constant exchange rates and by about 9% at
actual exchange rates.  However, the sales trends are strongly
positive.  Last month, Waterford had its best September sales
since 2003 and, for the month of October, present indications
are that total group sales will show healthy growth over last
year.  Crucially, prospects for the all important Christmas
period are encouraging: the group's total order book at
Oct. 1, 2007 is up 11% over last year.

Interim financial results will be reported on Nov. 8, 2007.

Headquartered in Staffordshire, England, Waterford
Wedgwood plc -- http://www.waterfordwedgwood.com/-- is the
world's leading luxury lifestyle group with four world-class
brands - Waterford Crystal, Wedgwood, Rosenthal and Royal
Doulton.

                          *    *    *

Waterford Wedgwood's 9-7/8% notes due 2010 carry junk ratings
from Moody's Investors' Service's (Caa2), Standard & Poor's
(CCC-), and Fitch Ratings (CC).  These ratings apply to date.


* BOOK REVIEW: The First Junk Bond: A Story of Corporate
               Boom and Bust
--------------------------------------------------------

Author:     Harlan D. Platt
Publisher:  Beard Books
Paperback:  256 pages
List Price: US$34.95

Order your personal copy at
http://amazon.com/exec/obidos/ASIN/1587981203/internetbankrupt


This is a book that business people will find particularly
enlightening.  It details how Texas International, Inc.'s
bankruptcy filing affected various stakeholders, the bankruptcy
negotiation process, and the alternative post-bankruptcy
structures that were considered.

This engrossing book follows the extraordinary journey of the
company through its corporate growth and decline, debt exchange
offers, and corporate rebirth.

It is a case study of a company that exemplified the 1980s,
complete with fascinating people, financial innovations, and
successive rounds of high stakes poker, as the misfortunes of
the company unfold.

Detailed is the involvement of Drexel Lambert banking house and
its guiding spirit Michael Milken, who secured fresh capital for
the company through the issuance of a high-yield bond with an
above-market rate of interest to counterbalance its elevated
credit risk.

                           *********

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 * * *