T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Thursday, October 25, 2007, Vol. 8, No. 212 Headlines A U S T R I A ALKRO ALUMINIUMKONSTRUKTIONEN: Claims Registration Ends Oct. 29 ESTRO FLOOR: Claims Registration Period Ends Oct. 30 M. STOCKER LAGER: Claims Registration Period Ends Oct. 30 R.OBOJKOVITS LLC: Claims Registration Period Ends Oct. 29 SANLI BAU- & HANDELS: Administrator Declares Insufficient Assets D E N M A R K TDC A/S: CFO Hans Munk Nielsen to Retire by January 2008 F R A N C E HEXCEL CORP: Earns US$17.3 Mln in Third Quarter Ended Sept. 30 G E R M A N Y AIRSEVEN GMBH: Claims Registration Ends Nov. 14 ASAT HOLDINGS: Regains Nasdaq Listing Compliance ASERNO SYSTEMHAUS: Claims Registration Ends November 17 BETTINGER FLUESSIGGAS: Creditors Must File Claims by November 16 BUCKEYE TECH: Earns US$13.5 Mln in First Quarter Ended Sept. 30 CHRYSLER LLC: UAW Key Locals in Michigan Accept Labor Contract CHRYSLER LLC: UAW Local 685 Rejects Tentative Labor Agreement DRUCKWERK GMBH: Claims Registration Period Ends Nov. 12 EIGENHEIM-VERTRIEBS: Creditors Must File Claims by November 16 FACILITYNETINFO GMBH: Claims Registration Ends Nov. 15 FATTLER METALLBAU: Creditors Must File Claims by November 16 GERD RINNERT: Creditors' Meeting Slated for Nov. 8 H + H WOHNBAU: Claims Registration Ends Nov. 15 JUTRA GMBH: Claims Registration Period Ends Nov. 12 KS MALERBETRIEB: Claims Registration Period Ends Nov. 9 LANG OFFICE: Claims Registration Ends Nov. 13 MYGUIDE HANDELS: Claims Registration Ends November 16 PENTA GEBAUDEMANAGEMET: Creditors’ Meeting Slated for Nov. 30 S + H INTERNATIONALER: Claims Registration Period Ends Nov. 10 TDBY GMBH: Claims Registration Period Ends Nov. 12 WK-BAUELEMENTE GMBH: Claims Registration Ends November 18 H U N G A R Y AES CORP: Unit Says It Will Proceed with Brasiliana Stake Buy I T A L Y ALITALIA SPA: Aeroflot to Decide on Bid in Two Weeks DANA CORP.: Gets Go Signal to Begin Soliciting Votes on Plan XEROX CORP: Earns US$254 Million in Quarter Ended September 30 K A Z A K H S T A N ARLAN-EXPRESS LLP: Proof of Claim Deadline Slated for Dec. 1 BRIF MARKET: Creditors Must File Claims Dec. 5 BIOHIMAGRO LLP: Claims Filing Period Ends Dec. 5 DAN IMPEX: Creditors' Claims Due on Dec. 4 HIMZAVOD LLP: Claims Registration Ends Dec. 5 LEVOBEREJNY ELEVATOR: Creditors Must File Claims Dec. 1 MAGELLAN LLP: Claims Filing Period Ends Dec. 1 K Y R G Y Z S T A N KOICHU COMPANY: Proof of Claim Deadline Slated for November 23 ORIENT LLC: Creditors' Meeting Slated for October 26 R U S S I A AGRIFIRM TSAREVSKIJ: Creditors Must File Claims by Dec. 13 FIRST UNITED: Moody's Assigns B3/NP Currency Deposit Ratings INTERNATIONAL INDUSTRIAL: Fitch Holds B IDR with Stable Outlook KURKINOREPAIRBUILD MUE: Asset Sale Slated for November 13 NATIONAL STANDARD: Moody's Assign B3/NP Currency Deposit Ratings NOVATEK OAO: Inks Joint Cooperation Protocol with Total OILPRODUCT LLC: Creditors Must File Claims by Nov. 13 ROSNEFT OIL: Wants to Close Tomskneft Stake Sale by Yearend SIBERIAN PLANT: Bankruptcy Hearing Slated for Feb. 20, 2008 SREDNETERESHANSKIJ OJSC: Asset Sale Slated for November 12 TATARSTAN INNOVATION: Creditors Must File Claims by Dec. 13 TATARSTANAGRIINDUSTSUPPLY OJSC: Asset Sale Slated for Nov. 13 TVERBESSER CJSC: Creditors Must File Claims by Dec. 13 ZABAIKAL'SKAYA CONSTRUCTION: Claims Filing Period Ends Nov. 13 ZARYA CJSC: Creditors Must File Claims by Dec. 13 S W I T Z E R L A N D AMBALL SHOP: Creditors' Liquidation Claims Due January 3, 2008 CAF’CONC LLC: Creditors' Liquidation Claims Due October 31 ESCORIAL GASTRO: Creditors' Liquidation Claims Due October 31 LUXMARK JSC: Creditors' Liquidation Claims Due November 1 MOMENTUM COSMETICS: Zug Court Closes Bankruptcy Proceedings MONDIAL SECURITIES: Zurich Court Closes Bankruptcy Proceedings POPCOM LLC: Creditors' Liquidation Claims Due October 31 SAPOR JSC: Creditors' Liquidation Claims Due November 1 SCHWARM TREUHAND: Creditors' Liquidation Claims Due November 1 VANEBO CONSULTING: Creditors' Liquidation Claims Due October 31 U K R A I N E ALMAZ-OIL LLC: Proofs of Claim Deadline Set October 26 BATKIVSCHINA-AGRO LLC: Creditors Must File Claims by October 26 KARPATBUILDING: Creditors Must File Claims by October 26 KOBZAR LLC: Creditors Must File Claims by October 26 LIUTENKA HEMP: Proofs of Claim Deadline Set October 26 MALAYA VISKA: Creditors Must File Claims by October 26 NAYADA-K LLC: Proofs of Claim Deadline Set October 26 SOUTH SEED: Creditors Must File Claims by October 26 SPUTNIK-AUTO LLC: Proofs of Claim Deadline Set October 26 TPK LLC: Proofs of Claim Deadline Set October 26 U N I T E D K I N G D O M ABOUT DESIGN: Joint Liquidators Take Over Operations AVANT GARDE: Names Joint Administrators from Menzies BOSSY BOOTS: J. M. Titley Leads Liquidation Procedure BRITISH ENERGY: Wire Winding Issue Affects Four Boiler Units BRITISH ENERGY: Court Approves Share Premium Reserve Reduction CHALVINGTON PRESS: Taps Tenon Recovery as Administrators CHEYNE FINANCE: Receivers to Sell Investment Portfolio to RBS CHEYNE FINANCE: Moody's Cuts Ratings on Debt Securities to Ca LECTA SA: S&P Lowers Ratings to B+ on Negative Reassessment M-REAL: S&P Lowers Ratings to B- on Negative Reassessment MELROSE RESOURCES: Moody's Assigns B2 Corporate Family Rating NORSKE SKOGINDUSTRIER: S&P Affirms Ratings at B+ RGN SHEPHERD: Appoints Joint Administrator from Begbies Traynor RHINEBRIDGE PLC: Brings In Deloitte as Receivers RIVE DROITE: Brings In Joint Administrators from Grant Thornton SAPPI LTD: S&P Lowers Ratings to BB on Negative Reassessment SECAL GROUP: Taps Liquidators from BDO Stoy Hayward SIMPLY GO: Brings In Liquidators from KPMG SIMPLY SALADS: Calls In Liquidators from KPMG SMURFIT KAPPA: Issues Profit Warning for Full Year 2007 SMURFIT KAPPA: S&P Affirms B+ Ratings on Financial Risks WHITAKERS PROPERTY: Appoints Liquidators from Tenon Recovery YELOFIN NETWORKS: Hires Liquidators from Vantis * Upcoming Meetings, Conferences and Seminars ********* ============= A U S T R I A ============= ALKRO ALUMINIUMKONSTRUKTIONEN: Claims Registration Ends Oct. 29 --------------------------------------------------------------- Creditors owed money by LLC ALKRO Aluminiumkonstruktionen Markus Kroyer (FN 226735i) have until Oct. 29 to file written proofs of claim to court-appointed estate administrator Wilhelm Lackner at: Mag. Wilhelm Lackner Esterhazyplatz 6a 7000 Eisenstadt Austria Tel: 02682/64044 Fax: 02682/64044 30 E-mail: ra.schreiner@aon.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 11:30 a.m. on Nov. 12 for the examination of claims. The meeting of creditors will be held at: The Land Court of Eisenstadt Hall F Eisenstadt Austria Headquartered in Wulkaprodersdorf, Austria, the Debtor declared bankruptcy on Sept. 26 (Bankr. Case No. 26 S 139/07d). ESTRO FLOOR: Claims Registration Period Ends Oct. 30 ---------------------------------------------------- Creditors owed money by LLC ESTRO FLOOR Fussbodentechnik (FN 134065f) have until Oct. 30 to file written proofs of claim to court-appointed estate administrator Markus Brandt at: Dr. Markus Brandt Silberzeile 9 4780 Scharding Austria Tel: 07712/2864 Fax: 07712/2864-10 E-mail: office@brandt.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:30 a.m. on Nov. 14 for the examination of claims. The meeting of creditors will be held at: The Land Court of Ried im Innkreis Hall 101 First Floor Ried im Innkreis Austria Headquartered in Andorf, Austria, the Debtor declared bankruptcy on Sept. 27 (Bankr. Case No. 17 S 36/07m). M. STOCKER LAGER: Claims Registration Period Ends Oct. 30 --------------------------------------------------------- Creditors owed money by LLC M. Stocker Lager- und Transport (FN 240932m) have until Oct. 30 to file written proofs of claim to court-appointed estate administrator Katharina Widhalm-Budak at: Dr. Katharina Widhalm-Budak Schulerstrasse 18 1010 Vienna Austria Tel: 01/513 10 37 Fax: 01/513 10 37 22 E-mail: widhalm-budak@anwaltsteam.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:30 a.m. on Nov. 14 for the examination of claims. The meeting of creditors will be held at: The Land Court of Korneuburg Room 204 Second Floor Korneuburg Austria Headquartered in Gerasdorf bei Vienna, Austria, the Debtor declared bankruptcy on Sept. 27 (Bankr. Case No. 36 S 111/07a). R.OBOJKOVITS LLC: Claims Registration Period Ends Oct. 29 --------------------------------------------------------- Creditors owed money by LLC R.Obojkovits (FN 116444t) have until Oct. 29 to file written proofs of claim to court-appointed estate administrator Wolfgang Steflitsch at: Mag. Wolfgang Steflitsch Hauptplatz 14 7400 Oberwart Austria Tel: 03352/32634-0 Fax: 03352/33719 E-mail: office@ra-steflitsch.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:45 a.m. on Nov. 12 for the examination of claims. The meeting of creditors will be held at: The Land Court of Eisenstadt Hall F Eisenstadt Austria Headquartered in Oberwart, Austria, the Debtor declared bankruptcy on Sept. 21 (Bankr. Case No. 26 S 136/07p). SANLI BAU- & HANDELS: Administrator Declares Insufficient Assets ---------------------------------------------------------------- Mag. Katharina Pitzal, the court-appointed estate administrator for KEG Sanli Bau- & Handels (FN 273599b), declared Sept. 26 that the Debtor's property is insufficient to cover creditors' claim. The Trade Court of Vienna entered an order shutting down the Debtor's business on the same date. Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Aug. 31 (Bankr. Case No. 6 S 106/07s). The estate administrator can be reached at: Mag. Katharina Pitzal c/o Dr. Hannelore Pitzal Tel: 587 31 11 Fax: 587 87 50 50 E-mail: office@heller-pitzal.at ============= D E N M A R K ============= TDC A/S: CFO Hans Munk Nielsen to Retire by January 2008 -------------------------------------------------------- Hans Munk Nielsen, chief financial officer and member of the executive committee of TDC A/S, has decided to retire at the latest by the end of January 2008 after almost 17 years with the company. TDC is in the process of identifying Mr. Nielsen's successor. "It has not been an easy decision as I have always taken great interest in TDC, and for which reason TDC has taken up much of my attention during the last several years. But I feel now it is time for me to start a new chapter and also, from a business point of view, I think that timing is right", Mr. Nielsen said. Mr. Nielsen, aged 61, joined TDC in 1991 and thus has contributed considerably to the development of TDC changing from a public corporation into a company listed on the Copenhagen and the New York Stock Exchanges and most recently into the present ownership structure as a modern company owned by equity funds. Mr. Nielsen has been Jens Alder's close partner since November 2006, when Mr. Alder joined TDC as president and chief executive officer. "Being new in TDC it has been extremely valuable for me to have Hans by my side. He knows the history, has the overview, and is one of the smartest brains in the company. He is reliable and professional and has been a driving force behind TDC's financial development. So I will miss him, yet, I also understand his decision", Mr. Alder said. Besides being CFO at TDC Mr. Nielsen is member of the board of the Nordic Stock Exchange, OMX, and Nordea Invest. It is his plan to supplement this with a few more directorships. "I am convinced that I can contribute to business in general through my directorships. But apart from that it is my ambition to improve my fitness ratings and to resume my passion for literature and philosophy and of course spend more time with my family", Mr. Nielsen said. About TDC A/S Headquartered in Copenhagen, Denmark, TDC A/S -- http://www.tdc.dk/-- through its subsidiaries and affiliates, provides communication solutions in Europe. It provides communication services in Denmark and Switzerland, and has a significant presence in selected Northern and Central European telecommunication markets. It operates through five business lines. * * * As reported in the TCR-Europe on June 27, 2007, Fitch Ratings affirmed TDC A/S's Long-term Issuer Default rating at 'BB-' including TDC's and NTC Holdings' debt. The Short-term IDR is affirmed at 'B'. All the ratings are removed from Rating Watch Negative. A Stable Outlook is assigned to the Long-term IDR. In April 2007, in connection with the implementation of its new Probability-of-Default and Loss-Given-Default rating methodology for the existing non-financial speculative-grade corporate issuers in Europe, Middle East and Africa, Moody's Investors Service confirmed its Ba3 Corporate Family Rating for TDC A/S. Moody's also assigned a Ba3 Probability-Of-Default-rating to the company. * Issuer: TDC A/S Projected Old New LGD Loss-Given Debt Issue Rating Rating Rating Default ---------- ------- ------- ------ ---------- US$6-billion Sr. Unsecured Medium-Term Note Program Ba3 B1 LGD5 81% DEM500-billion 5% Sr. Unsecured Ba3 B1 LGD5 81% Regular Bond/ Debenture Due 2008 JPY3-billion 1.28% Sr. Unsecured Regular Bond/ Debenture Due 2008 Ba3 B1 LGD5 81% EUR350-million 5.625% Senior Unsecured Regular Bond/ Debenture Due 2009 Ba3 B1 LGD5 81% EUR750-million 6.5% Senior Unsecured Regular Bond/ Debenture Due 2012 Ba3 B1 LGD5 81% Senior Secured Bank Credit Facility Ba2 Ba2 LGD3 34% At the same time, Standard & Poor's Ratings Services affirmed all its ratings on Danish telecoms operator TDC A/S and its parent company Nordic Telephone Co. Holding ApS, including the 'BB-/B' corporate credit ratings on TDC. S&P said the outlook is stable. =========== F R A N C E =========== HEXCEL CORP: Earns US$17.3 Mln in Third Quarter Ended Sept. 30 -------------------------------------------------------------- Hexcel Corporation reported financial results for the third quarter of 2007. The company reported net income of US$17.3 million for the third quarter of 2007, compared to net income of US$15.7 million for the third quarter of 2006. Income from continuing operations for the third quarter of 2007 was US$18.1 million, compared to income from continuing operations of US$15.2 million in 2006. Net loss from discontinued operations was US$800,000, which includes an after-tax loss on sale of US$2.4 million. Discontinued operations primarily consist of the U.S. electronics, ballistics and general industrial reinforcement product lines, which were sold to JPS Industries on Aug. 6, 2007. Net sales from continuing operations in the quarter were US$281.1 million, 11.4% higher than the US$252.3 million reported for the third quarter of 2006. Related operating income for the third quarter was US$30.2 million compared to US$23.9 million for the same period last year. Chief Executive Officer Comments Mr. Berges commented, "The third quarter saw continued strong sales to most of the commercial aerospace market. Sales to Boeing, regional aircraft builders and for engines and nacelles were up significantly for the third quarter in a row. Airbus sales were again down for the quarter, but only slightly as the impact of the A380 delay began a year ago. The first A380 has been delivered to Singapore Airlines and based on the current recovery schedule we expect favorable year-over-year sales comparisons going forward. We are encouraged that two new customers have recently committed to add the A380 to their fleet and hope to see renewed interest as this groundbreaking aircraft enters active service." "We generated nice year-over-year improvements in both gross margin and operating margin, and we still expect to meet our margin guidance targets for the year. With new aerospace programs, higher build rates, new product qualifications, new process developments and facilities underway, these are exciting times for us. The employees of Hexcel recognize the tremendous opportunities in front of them, and are working relentlessly to turn these opportunities into a more profitable future." Discontinued Operations The company completed the sale of EBGI to JPS Industries for an initial cash purchase price of US$62.5 million plus up to US$12.5 million of additional payments dependent upon future sales of the Ballistics product line. Any additional payments will be recorded as income when earned. Income Taxes The company's effective income tax rate for the third quarter 2007 was 29.5% as compared to 22.0% for the third quarter of 2006. The 2006 provision included the reversal of US$3.6 million of the valuation allowance against the company's U.S. deferred tax assets related to capital losses. The year to date tax rate is now 38.1%. The reduction in the third quarter rate as compared to the 42.3% in the first half of 2007 primarily reflects a favorable audit settlement, including the release of US$1.1 million of FIN 48 reserves. Total Debt, Net of Cash Total debt, net of cash, of US$293.2 million as of Sept. 30, 2007, decreased by US$93.4 million from US$386.6 million as of Dec. 31, 2006. The year-to-date results include US$84.0 million of proceeds from the sale of the discontinued operations. The US$15.0 million liability recorded in the second quarter for the settlement of the Zylon matter is expected to be paid in the fourth quarter. At Sept. 30, 2007, the company's consolidated balance sheet showed US$1.02 billion in total assets, US$636.0 million in total liabilities, and US$384.3 million in total shareholders' equity. About Hexcel Corp. Headquartered in Stamford, Connecticut, Hexcel Corporation (NYSE: HXL) -- http://www.hexcel.com/-- is an advanced structural materials company. It develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures, used in commercial aerospace, space and defense and industrial applications. The company has operations in Australia, Brazil, China, France, Japan, among others. * * * To date, Hexcel Corp. still carries Moody's Investors Service's 'Ba3' corporate family rating last placed on April 3, 2007. ============= G E R M A N Y ============= AIRSEVEN GMBH: Claims Registration Ends Nov. 14 ----------------------------------------------- Creditors of AirSeven GmbH have until Nov. 14 to register their claims with court-appointed insolvency manager Peter Steuerwald. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on Dec. 13, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Wolfsburg Hall D Rothenfelder Strasse 43 38440 Wolfsburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Peter Steuerwald Bruchtorwall 6 38100 Braunschweig Germany Tel: 0531/244 80-0 Fax: 0531/244 80-80 E-mail: psteuerwald@hausherr-steuerwald.de The District Court of Wolfsburg opened bankruptcy proceedings against AirSeven GmbH on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: AirSeven GmbH Bauerstr. 9 38350 Helmstedt Germany ASAT HOLDINGS: Regains Nasdaq Listing Compliance ------------------------------------------------ The Nasdaq Listing Qualifications Panel has informed ASAT Holdings Limited that the company had regained compliance with the US$35,000,000 market value requirement. As a result, the appeal hearing will be moot and canceled, and ASAT's American Depositary Shares shall remain listed on The Nasdaq Capital Market. The company has received a Nasdaq Staff Determination letter dated Sept. 17, 2007, indicating that the company's market value of listed securities had been below US$35,000,000 as required for continued inclusion by Marketplace Rule 4320(e)(2)(B) and that its ADSs were, therefore, subject to delisting. On Sept. 24, 2007, ASAT requested an appeal hearing before a Panel to avoid delisting. ASAT subsequently appealed to the Panel and provided information and other communication to the Panel. Headquartered in Pleasanton, California, ASAT Holdings Limited (Nasdaq: ASTT) -- http://www.asat.com/-- is a provider of semiconductor package design, assembly and test services. With 18 years of experience, the company offers a definitive selection of semiconductor packages and world-class manufacturing lines. ASAT's advanced package portfolio includes standard and high thermal performance ball grid arrays, leadless plastic chip carriers, thin array plastic packages, system-in- package and flip chip. ASAT was the first company to develop moisture sensitive level one capability on standard leaded products. The company has operations in the United States, Hong Kong, China and Germany. At April 30, 2007, ASAT Holdings Limited's consolidated balance sheet showed US$135.1 million in total assets, US$217.7 million in total liabilities, and US$5.7 million in series A redeemable convertible preferred shares, resulting in an US$88.3 million total stockholders' deficit. * * * Standard & Poor's placed ASAT Holdings Limited's long term foreign and local issuer credit ratings at 'CCC-' in September 2007. The outlook is negative. ASERNO SYSTEMHAUS: Claims Registration Ends November 17 ------------------------------------------------------- Creditors of Aserno Systemhaus GmbH have until Nov. 17 to register their claims with court-appointed insolvency manager Johannes Klefisch. Creditors and other interested parties are encouraged to attend the meeting at 8:55 a.m. on Dec. 17, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Aachen Meeting Hall K 3 Third Floor Alter Posthof 1 52062 Aachen 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: Johannes Klefisch Rotter Bruch 6 52068 Aachen Germany Tel: 0241/949740 Fax: 0241/870203 The District Court of Aachen opened bankruptcy proceedings against Aserno Systemhaus GmbH on Oct. 2. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Aserno Systemhaus GmbH Pascalstr. 26 52076 Aachen Germany Attn: Hans-Juergen Vieten, Manager Pascalstr. 26 52076 Aachen Germany BETTINGER FLUESSIGGAS: Creditors Must File Claims by November 16 ---------------------------------------------------------------- Creditors of Bettinger Fluessiggas Handel GmbH have until Nov. 16 to register their claims with court-appointed insolvency manager Andreas Roepke. Creditors and other interested parties are encouraged to attend the meeting at 9:35 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 Duisburg Hall C205 Second Floor Kardinal-Galen-Strasse 124-132 47058 Duisburg 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 Roepke Muelheimer Strasse 100 47057 Duisburg Germany The District Court of Duisburg opened bankruptcy proceedings against Bettinger Fluessiggas Handel GmbH on Oct. 8. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Bettinger Fluessiggas Handel GmbH Annastr.9a 46562 Voerde Germany BUCKEYE TECH: Earns US$13.5 Mln in First Quarter Ended Sept. 30 --------------------------------------------------------------- Buckeye Technologies Inc. on Monday disclosed results of its operations for the first quarter ended Sept. 30, 2007. The company reported net earnings of US$13.5 million on net sales of US$197.4 million for the July-September quarter, compared to net earnings of US$15.9 million on net sales of US$200.2 million in the same period last year. These results include a US$2.2 million one-time favorable tax benefit related to the recently enacted reduction in Germany's corporate tax rate. Chairman and chief executive officer John B. Crowe said, "As I said in our performance update last week, first quarter net sales were up 3% compared to the same period last year. The earnings improvement is a combination of higher prices, better mix and cost control. Nonwovens shipments were especially strong with net sales up 10% compared to the same period last year. Strong cash flow enabled us to reduce debt by US$26 million during the just completed quarter. Demand for our specialty wood and cotton products, nonwoven materials and fluff pulp continues to be strong." At Sept. 30, 2007, the company's consolidated balance sheet showed US$971.9 million in total assets, US$594.1 million in total liabilities, and US$377.8 million in total stockholders' equity. About Buckeye Technologies Headquartered in Memphis, Tennessee, Buckeye Technologies Inc. (NYSE: BKI) -- http://www.bkitech.com/-- manufactures and markets specialty fibers and nonwoven materials. The company currently operates facilities in the United States, Germany, Canada, and Brazil. Its products are sold worldwide to makers of consumer and industrial goods. * * * As reported in the Troubled Company Reporter on June 19, 2007, Moody's upgraded Buckeye Technologies Inc.'s corporate family rating to B1 from B2 and maintained a stable outlook. All other ratings were upgraded by one notch while the unsecured notes were affirmed at B2. CHRYSLER LLC: UAW Key Locals in Michigan Accept Labor Contract -------------------------------------------------------------- More than 9,000 United Auto Workers union members at four major Chrysler LLC plants in Michigan, voted on Wednesday on a proposed labor contract between the union and the carmaker, various papers report. Sources say that 78% of the union members at Chrysler’s assembly plant in Warren, Michigan, accepted the contract, and 86% of workers at a metal stamping plant in Sterling Heights, Michigan, voted yes. Both plants have a total of 5,200 workers. Results from another stamping plant in Warren, and an assembly plant in Sterling Heights were not yet available. Meanwhile, back in Kokomo, Indiana, 78% of 751 union members at Local 1166, a transmission-casing plant, vetoed the tentative contract on Tuesday, Mike Ramsey of Bloomberg News reports citing Jim Lederle, recording secretary for the local. In a separate report, UAW Local 685, with 4,500 employees at three Chrysler LLC transmission plants in Kokomo, Indiana, rejected the tentative labor contract by a 72% margin. Four large union locals, representing a majority vote of Chrysler's 45,000 union members, rejected the United Auto Workers union's pact with Chrysler LLC over the weekend. Locals from Delaware, Missouri and Ohio turned down the pact on Saturday while a Detroit local with 2,200 UAW members, vetoed it on Sunday. A 600-member UAW local in Beldivere, Illinois, will cast their votes tomorrow, concluding the poll, according to Micheline Maynard of the New York Times. As previously reported, 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. 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. 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. CHRYSLER LLC: UAW Local 685 Rejects Tentative Labor Agreement ------------------------------------------------------------- United Auto Workers Local 685, with 4,500 employees at three Chrysler LLC transmission plants in Kokomo, Indiana, rejected a tentative labor contract between the union and the carmaker by a 72% margin, Mike Ramsey of Bloomberg News reports citing local president Guy Barger. The result has raised the likelihood of the pact to fail on an overall level. Results for nearby Local 1166 were not available, Mr. Ramsey relates. As reported in yesterday's Troubled Company Reporter, union leaders were trying to sweet talk members at three Chrysler plants in Indiana, Michigan and Illinois, each employing more than 1,00 workers, to approve a tentative labor contract between the union and the carmaker. Lobbying efforts were directed at: * members of a key local in Kokomo, Indiana, who voted Oct. 23, 2007, * members of a key local in Sterling Heights, Michigan, who are voting today, Oct. 24, 2007, and * members of a small local in Belvidere, Illinois, voting later this week. Four large union locals, representing a majority vote of Chrysler's 45,000 union members, rejected the United Auto Workers union's pact with Chrysler LLC over the weekend. Locals from Delaware, Missouri and Ohio turned down the pact on Saturday while a Detroit local with 2,200 UAW members, vetoed it on Sunday. As previously reported, 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. 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. 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 US$5 billion "first-out" first-lien term loan tranche. This rating, two notches above the corporate credit rating of 'B' on Chrysler LLC, and the '1' recovery rating indicate S&P's expectation for very high recovery in the event of payment default. S&P also assigned a 'B' rating to the US$5 billion "second-out" first-lien term loan tranche. This rating, the same as the corporate credit rating, and the '3' recovery rating indicate S&P's expectation for a meaningful recovery in the event of payment default. Moody's Investors Service has affirmed Chrysler Automotive LLC's B3 Corporate Family Rating, and the Caa1 rating of the company's US$2 billion senior secured, second lien term loan in connection with Monday's closing of DaimlerChrysler AG's sale of a majority interest of Chrysler Group to Cerberus Capital Management LLC. DRUCKWERK GMBH: Claims Registration Period Ends Nov. 12 ------------------------------------------------------- Creditors of DruckWerk GmbH have until Nov. 12 to register their claims with court-appointed insolvency manager Raimund Schafmeister. Creditors and other interested parties are encouraged to attend the meeting at 10:15 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 Detmold Meeting Room 12 Ground Floor Gerichtsstr. 6 32756 Detmold Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Raimund Schafmeister Moltkestr. 12 32756 Detmold Germany EIGENHEIM-VERTRIEBS: Creditors Must File Claims by November 16 -------------------------------------------------------------- Creditors of Eigenheim-Vertriebs GmbH have until Nov. 16 to register their claims with court-appointed insolvency manager Eike Edo Happe. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on Dec. 3, 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 Bad Homburg v.d. Hoehe Room 302 Third Floor Auf der Steinkaut 10-12 61352 Bad Homburg v.d. Hoehe Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Eike Edo Happe Stresemannallee 30 60596 Frankfurt am Main Germany The District Court of Bad Homburg v.d. Hoehe opened bankruptcy proceedings against Eigenheim-Vertriebs GmbH on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Eigenheim-Vertriebs GmbH Elisabethenstrasse 10 b 61348 Bad Homburg Germany FACILITYNETINFO GMBH: Claims Registration Ends Nov. 15 ------------------------------------------------------ Creditors of FacilityNetInfo GmbH have until Nov. 15 to register their claims with court-appointed insolvency manager Christina Siegert. 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 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: Christina Siegert Oskar-von-MillerRing 34-36 80333 Munich Germany Tel: 089-24440930 Fax: 089-244409365 The District Court of Munich opened bankruptcy proceedings against FacilityNetInfo GmbH on Sept. 21. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: FacilityNetInfo GmbH Werner-Eckert-Str. 14 81829 Munich Germany FATTLER METALLBAU: Creditors Must File Claims by November 16 ------------------------------------------------------------ Creditors of Fattler Metallbau GmbH have until Nov. 16 to register their claims with court-appointed insolvency manager Bruno M. Kuebler. Creditors and other interested parties are encouraged to attend the meeting at 1:00 p.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 Potsdam Hall 301 Third Floor Nebenstelle Lindenstrasse 6 14467 Potsdam Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Bruno M. Kuebler Einemstrasse 24 10785 Berlin Germany The District Court of Potsdam opened bankruptcy proceedings against Fattler Metallbau GmbH on Oct. 8. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Fattler Metallbau GmbH Am Plan 15 15831 Grossbeeren Germany GERD RINNERT: Creditors' Meeting Slated for Nov. 8 -------------------------------------------------- The court-appointed insolvency manager for Gerd Rinnert Tischlerei GmbH, Joachim Voigt-Salus will present his first report on the Company's insolvency proceedings at a creditors' meeting at 9:50 a.m. on Nov. 8. The meeting of creditors and other interested parties will be held at: The District Court of Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin Germany The Court will also verify the claims set out in the insolvency manager's report at 9:00 a.m. on Feb. 7, 2008 at the same venue. Creditors have until Dec. 5 to register their claims with the court-appointed insolvency manager. The insolvency manager can be reached at: Joachim Voigt-Salus Rankestrasse 33 10789 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Gerd Rinnert Tischlerei GmbH on Sept. 13. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Gerd Rinnert Tischlerei GmbH Neuendorfer Str. 64-69 13585 Berlin Germany H + H WOHNBAU: Claims Registration Ends Nov. 15 ----------------------------------------------- Creditors of H + H Wohnbau GmbH have until Nov. 15 to register their claims with court-appointed insolvency manager Dr. Uwe Rottler. Creditors and other interested parties are encouraged to attend the meeting at 10:00 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 Friedberg (Hessen) Hall 20a Homburger Strasse 18 61169 Friedberg (Hessen) 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. Uwe Rottler Wilhelmstr. 1b 79098 Freiburg Germany Tel: 0761/703940 The District Court of Freiburg opened bankruptcy proceedings against H + H Wohnbau GmbH on Oct. 5. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: H + H Wohnbau GmbH Am Kirchplatz 2 79241 Ihringen Germany JUTRA GMBH: Claims Registration Period Ends Nov. 12 --------------------------------------------------- Creditors of JuTra GmbH Internationale Spedition Import + Export have until Nov. 12 to register their claims with court-appointed insolvency manager Ingmar Jarchow. Creditors and other interested parties are encouraged to attend the meeting at 12:50 p.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 Hamburg Hall B 405 Fourth Floor Annex Civil Justice Bldg. Sievkingplatz 1 20355 Hamburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Ingmar Jarchow Heuberg 1 20354 Hamburg Germany The District Court of Hamburg opened bankruptcy proceedings against JuTra GmbH Internationale Spedition Import + Export on Oct. 4. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: JuTra GmbH Internationale Spedition Import + Export Attn: Waldemar Jundt, Manager Gutsmuthsweg 7 20539 Hamburg Germany KS MALERBETRIEB: Claims Registration Period Ends Nov. 9 ------------------------------------------------------- Creditors of KS Malerbetrieb GmbH have until Nov. 9 to register their claims with court-appointed insolvency manager Dr. Reinhard Th. Schmid. Creditors and other interested parties are encouraged to attend the meeting at 9:00 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 Esslingen Hall One First Floor Ritterstr.5 (Eingang Strohstrasse) Esslingen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Reinhard Th. Schmid Hasenbergsteige 5 70178 Stuttgart Germany Tel: 0711/66907-91 Fax: 0711/6645068 The District Court of Esslingen opened bankruptcy proceedings against KS Malerbetrieb GmbH on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: KS Malerbetrieb GmbH Schulstr. 3 70794 Filderstadt Germany LANG OFFICE: Claims Registration Ends Nov. 13 --------------------------------------------- Creditors of Lang Office Vertriebsgesellschaft mbH have until Nov. 13 to register their claims with court-appointed insolvency manager Dr. Alexander Naraschewski. Creditors and other interested parties are encouraged to attend the meeting at 9:00 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 Detmold Meeting Room 12 Ground Floor Gerichtsstr. 6 32756 Detmold Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Alexander Naraschewski Adalbertstr. 2 26382 Wilhelmshaven Germany Tel: 04421/507090 Fax: 04421/507099 E-mail: info@naraschewski.de The District Court of Detmold opened bankruptcy proceedings against Lang Office Vertriebsgesellschaft mbH on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Lang Office Vertriebsgesellschaft mbH Olympiastr. 1 26419 Schortens Germany MYGUIDE HANDELS: Claims Registration Ends November 16 ----------------------------------------------------- Creditors of MyGuide Handels GmbH have until Nov. 16 to register their claims with court-appointed insolvency manager Franz J. Abel. Creditors and other interested parties are encouraged to attend the meeting at 11:00 a.m. on Nov. 20, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Saarbruecken Meeting Hall 24 Second Floor Vopeliusstrasse 2 66280 Sulzbach Germany The Court will verify the claims set out in the insolvency manager's report at 9:15 a.m. on Dec. 11 at the same venue, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Franz J. Abel Kaiserstrasse 77 66386 St. Ingbert Germany The District Court of Saarbruecken opened bankruptcy proceedings against MyGuide Handels GmbH on Oct. 5. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: MyGuide Handels GmbH Neutorstr. 13 AUT-5020 Salzburg Germany Attn: Michael Jens Funke, Manager Langfeld 38 66130 Saarbruecken Germany PENTA GEBAUDEMANAGEMET: Creditors’ Meeting Slated for Nov. 30 ------------------------------------------------------------- The court-appointed insolvency manager for PENTA Gebaudemanagemet GmbH, Christoph Schulte-Kaubruegger will present his first report on the Company's insolvency proceedings at a creditors' meeting at 9:45 a.m. on Nov. 30. The meeting of creditors and other interested parties will be held at: The District Court of Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin Germany The Court will also verify the claims set out in the insolvency manager's report at 9:30 a.m. on March 3, 2008 at the same venue. Creditors have until Jan. 10, 2008 to register their claims with the court-appointed insolvency manager. The insolvency manager can be reached at: Dr. Christoph Schulte-Kaubruegger Genthiner Str. 48 10785 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against PENTA Gebaudemanagemet GmbH on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: PENTA Gebaudemanagemet GmbH Koepenicker Str. 325 12555 Berlin Germany S + H INTERNATIONALER: Claims Registration Period Ends Nov. 10 -------------------------------------------------------------- Creditors of S + H Internationaler Holzhandel GmbH have until Nov. 10 to register their claims with court-appointed insolvency manager Wolfgang Weidemann. Creditors and other interested parties are encouraged to attend the meeting at noon on Jan. 4, 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 Neumuenster Meeting Hall B.126 Law Courts Boostedter Strasse 26 Neumuenster 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 Weidemann Wendenstrasse 4 20097 Hamburg Germany The District Court of Neumuenster opened bankruptcy proceedings against S + H Internationaler Holzhandel GmbH on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: S + H Internationaler Holzhandel GmbH Attn: Viktor Sterk, Manager Ruthenberger Markt 15 24539 Neumuenster Germany TDBY GMBH: Claims Registration Period Ends Nov. 12 -------------------------------------------------- Creditors of TDBY GMBH have until Nov. 12 to register their claims with court-appointed insolvency manager Friedrich-Wilhelm Klein. Creditors and other interested parties are encouraged to attend the meeting at 8:30 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 Wuppertal Meeting Room A234 Second Floor Isle 2 42103 Wuppertal Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Friedrich-Wilhelm Klein Turmhof 15 42103 Wuppertal Germany Tel: 0202/493700 Fax: 0202/4937099 The District Court of Wuppertal opened bankruptcy proceedings against TDBY GmbH on Oct. 4. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: TDBY GmbH Fischerstrasse 21 A 42859 Remscheid Germany Attn: Benjamin Er, Manager Buechelstrasse 9 42855 Remscheid Germany WK-BAUELEMENTE GMBH: Claims Registration Ends November 18 --------------------------------------------------------- Creditors of WK-Bauelemente GmbH have until Nov. 18 to register their claims with court-appointed insolvency manager Ulrich Bastian. 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 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: 2603966 Fax: 2609204 The District Court of Munich opened bankruptcy proceedings against WK-Bauelemente GmbH on Oct. 2. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: WK-Bauelemente GmbH Attn: Hamdi Cinar, Manager Puechbergerstr. 15 81549 Munich Germany ============= H U N G A R Y ============= AES CORP: Unit Says It Will Proceed with Brasiliana Stake Buy ------------------------------------------------------------- AES Brasil head Britaldo Soares told reporters that it is still keen on buying a 49.9% stake in the Brasiliana holding firm from Banco Nacional de Desenvolvimento Economico e Social SA. As reported in the Troubled Company Reporter-Latin America on Oct. 16, 2007, AES Corp. said that it could use up to US$600 million from the placement of senior unsecured notes to fund the acquisition of the Brasiliana stake. Banco Nacional, along with AES, would hire an independent auditor to appraise Brasiliana's value. Banco Nacional wants to sell its 49.99% stake in Brasiliana, where AES holds 50.01%. Mr. Soares commented to BNamericas, "AES' main interest in Brazil is its Brasiliana stake and we're interested in using our option to purchase the shares we don't own." He was referring to AES' right of first refusal. BNamericas states that these firms are also considering buying 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 T A L Y ========= ALITALIA SPA: Aeroflot to Decide on Bid in Two Weeks ---------------------------------------------------- OAO Aeroflot will decide in the next two weeks whether to bid for the Italian government's 49.9% stake in Alitalia S.p.A., various reports say. "We have inquired about the procedure, how Alitalia’s management and board of directors see the sale of the state-run stake in the airline," Mikhail Poluboyarinov, Aeroflot's deputy chief executive officer for finance and planning, told Kommersant. Mr. Poluboyarinov, Bloomberg News reports, added Aeroflot may team up with another interested buyer for Alitalia and could raise up to EUR1 billion to fund the deal. As reported in the TCR-Europe on Oct. 23, 2007, Alitalia will choose the buyer for Italy's stake on Nov. 10, 2007. Alitalia chairman Maurizio Prato told the Italian parliament that he will recommend an industrial buyer for Italy's stake within the first ten days of November, Agenzia Giornalistica Italia relates. The government will then decide how to finalize the sale of its stake. Alitalia decided to open talks, through the financial advisor Citi and industrial advisor Roland Berger, with: -- OAO Aeroflot, -- Air France-KLM, -- AP Holding S.p.A., -- Cordata Baldassarre, -- Deutsche Lufthansa AG, -- TPG Capital. About Alitalia Headquartered in Rome, Italy, Alitalia S.p.A. -- http://www.alitalia.it/-- provides air travel services for passengers and air transport of cargo on national, international and inter-continental routes. The Italian government owns 49.9% of Alitalia. The company has operations in Argentina. Despite a EUR1.4 billion state-backed restructuring in 1997, Alitalia posted net losses of EUR256 million and EUR907 million in 2000 and 2001 respectively. Alitalia posted EUR93 million in net profits in 2002 after a EUR1.4 billion capital injection. The carrier booked annual net losses of EUR520 million in 2003, EUR813 million in 2004, EUR168 million in 2005, and EUR625.6 million in 2006. DANA CORP.: Gets Go Signal to Begin Soliciting Votes on Plan ------------------------------------------------------------ Dana Corp. and its debtor-affiliates obtained the U.S. Bankruptcy Court for the Southern District of New York's consent to begin soliciting votes from creditors on their Joint Plan of Reorganization. In approximately one week, Dana expects to begin mailing solicitation packages to eligible creditors, who are required to submit their ballots by November 28, 2007. Before it could proceed with the solicitation process, Dana was required to show that the disclosure statement attached to the Plan contained "adequate information" necessary for parties entitled to vote on the Plan make an informed judgment on the Plan. Dana thrice amended the Plan and the Disclosure Statement to address objections raised by parties-in-interest and provide updates to recent developments in their Chapter 11 cases. The Plan, as amended, provides for (i) the Debtors' restructuring as a sustainable, viable business through several restructuring initiatives that were undertaken during the Chapter 11 cases; and (ii) a global settlement among the Debtors and their unions, Centerbridge Partners, L.P., and certain creditors. In November 2006, Dana outlined its restructuring goals, aiming to achieve a total of US$405,000,000 to US$540,000,000 in combined annual cost and margin improvement. Among other initiatives, Dana reached agreements for pricing adjustments with its major customers General Motors Corp., Toyota Motor Engineering & Manufacturing North America, Inc., Ford Motor Company, and Chrysler Company, LLC. The Plan provides for the disposal of preferred shares of reorganized Dana, to be named New Dana Holdco after the Debtors' emergence from Chapter 11, which is expected to raise US$790,000,000 in new capital. Centerbridge and members of an ad hoc steering committee, which hold in the aggregate approximately US$800,000,000 in Dana bonds, have agreed to backstop the rights offering, pursuant to the terms of a commitment letter, which remains subject to Bankruptcy Judge Burton R. Lifland's approval. Centerbridge will (i) pay US$250,000,000 for New Series A Preferred Stock of New Dana Holdco, and (ii) together with six other backstop parties, invest up to US$540,000,000 for New Series B Preferred Stock not purchased by "qualified investors", which constitute holders of bonds and trade claims of at least US$25,000,000. The Plan provides for the full payment of administrative, secured claims and reinstatement of Asbestos personal injury claims but provides for zero recovery to holders of the existing Dana stock Dana and subordinated claims. General unsecured creditors will obtain 72% to 86% recovery, depending on the total amount of claims that will ultimately be allowed in the class. Dana expects to shell out 78 to 86 cents on the dollar if the total allowed amount is between US$2,500,000,000 and US$2,750,000,000, and notches lower at 72 to 78 cents on the dollar if the total allowed amount is between US$2,750,000,000 and US$3,000,000,000. Holders of general unsecured claims, including bondholder and trade claims, will be entitled to vote on the Plan. The Debtors will post the tabulated voting results on the Plan on Dec. 6, 2007. The Debtors have scheduled a hearing to seek confirmation of the Plan on Dec. 10, 2007 at 10:00 a.m., Eastern Time. Objections to the Plan's confirmation are due Nov. 28. About Dana Corporation Headquartered in Toledo, Ohio, Dana Corporation -- http://www.dana.com/-- designs and manufactures products for every major vehicle producer in the world, and supplies drivetrain, chassis, structural, and engine technologies to those companies. Dana employs 46,000 people in 28 countries. Dana is focused on being an essential partner to automotive, commercial, and off-highway vehicle customers, which collectively produce more than 60 million vehicles annually. Dana has facilities in China in the Asia-Pacific, Argentina in the Latin-American regions and Italy in Europe. The company and its affiliates filed for chapter 11 protection on Mar. 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354). As of Sept. 30, 2005, the Debtors listed US$7,900,000,000 in total assets and US$6,800,000,000 in total debts. Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day, in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq., Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in Cleveland, Ohio, represent the Debtors. Henry S. Miller at Miller Buckfire & Co., LLC, serves as the Debtors' financial advisor and investment banker. Ted Stenger from AlixPartners serves as Dana's Chief Restructuring Officer. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel LLP, represents the Official Committee of Unsecured Creditors. Fried, Frank, Harris, Shriver & Jacobson, LLP serves as counsel to the Official Committee of Equity Security Holders. Stahl Cowen Crowley, LLC serves as counsel to the Official Committee of Non-Union Retirees. The Debtors filed their Joint Plan of Reorganization on Aug. 31, 2007. XEROX CORP: Earns US$254 Million in Quarter Ended September 30 -------------------------------------------------------------- Xerox Corporation reported third-quarter 2007 financial results. The company reported US$254 million of net income on US$4.3 billion revenues for the quarter ended Sept. 30, 2007, compared with US$536 million of net income on US$3.8 billion revenues for the same quarter last year. Total revenue of US$4.3 billion grew 12% in the quarter with post-sale and financing revenue -- Xerox’s annuity streams that represent more than 70% of total revenue -– up 11%. Both total revenue and post-sale revenue included a currency benefit of 3 percentage points as well as the benefit from Xerox’s acquisition of Global Imaging Systems. "This quarter’s solid results are proof positive that our business model is on track, generating double-digit profit growth and fueling a strong annuity pipeline that serves us well for the long term," Anne M. Mulcahy, Xerox chairman and chief executive officer, said. At Sept. 30, 2007, the company's balance sheet showed total assets of US$23.3 billion and total liabilities of US$15.5 billion, resulting in a US$7.8 billion stockholders' equity. Equity last year was US$7.0 billion. 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. * * * Standard & Poor's Ratings Services revised its rating outlook on Xerox Corp. to positive from stable on May 2007. Ratings on the company, including the 'BB+' long-term and 'B-1' short-term corporate credit ratings, were affirmed. The ratings still hold to date. =================== K A Z A K H S T A N =================== ARLAN-EXPRESS LLP: Proof of Claim Deadline Slated for Dec. 1 ------------------------------------------------------------ The Tax Committee of Almaty has ordered the compulsory liquidation of LLP Arlan-Express (RNN 090500030038). Creditors have until Dec. 1 to submit written proofs of claims to: The Tax Committee of Almaty Room 208 Jangusurov Str. 113a Taldykorgan Almaty Kazakhstan Tel: 8 (3282) 24-19-77 BRIF MARKET: Creditors Must File Claims Dec. 5 ---------------------------------------------- LLP Brif Market Intelligence has declared insolvency. Creditors have until Dec. 5 to submit written proofs of claims to: LLP Brif Market Intelligence Sixth Floor Jybek Joly ave. 76 Almaty Kazakhstan Tel: 8 (7272) 50-12-91 BIOHIMAGRO LLP: Claims Filing Period Ends Dec. 5 ------------------------------------------------ LLP Company Biohimagro has declared insolvency. Creditors have until Dec. 5 to submit written proofs of claims to: LLP Company Biohimagro Saumalkol Ayirtausky Distrist North Kazakhstan Kazakhstan DAN IMPEX: Creditors' Claims Due on Dec. 4 ------------------------------------------ CJSC Dan Impex has declared insolvency. Creditors have until Dec. 4 to submit written proofs of claims to: CJSC Dan Impex Tole bi Str. 21 Almaty Kazakhstan HIMZAVOD LLP: Claims Registration Ends Dec. 5 --------------------------------------------- LLP Chemical Factory Himzavod has declared insolvency. Creditors have until Dec. 5 to submit written proofs of claims to: LLP Chemical Factory Himzavod Baitursynov Str. 15a-68 Alga Aktube Kazakhstan Tel: 8 (31337) 54-80-29 LEVOBEREJNY ELEVATOR: Creditors Must File Claims Dec. 1 ------------------------------------------------------- The Specialized Inter-Regional Economic Court of East Kazakhstan has declared OJSC Levoberejny Elevator insolvent on Sept. 11. Creditors have until Dec. 1 to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of East Kazakhstan Satpayev 22/1-56 Ust-Kamenogorsk East Kazakhstan Kazakhstan Tel: 8 (7232) 62-26-83 MAGELLAN LLP: Claims Filing Period Ends Dec. 1 ---------------------------------------------- The Tax Committee of Almaty has ordered the compulsory liquidation of LLP Magellan (RNN 090500028610). Creditors have until Dec. 1 to submit written proofs of claims to: The Tax Committee of Almaty Room 208 Jangusurov Str. 113a Taldykorgan Almaty Kazakhstan Tel: 8 (3282) 24-19-77 =================== K Y R G Y Z S T A N =================== KOICHU COMPANY: Proof of Claim Deadline Slated for November 23 -------------------------------------------------------------- LLC Koichu Company has declared insolvency. Creditors have until Nov. 23 to submit written proofs of claim to: LLC Koichu Company Intergelpo Str. 1 Bishkek Kyrgyzstan ORIENT LLC: Creditors' Meeting Slated for October 26 ---------------------------------------------------- Creditors of LLC GKPB Orient will convene at 1:00 p.m. on Oct. 26 at: OJSC SKGP Jyldyz-Shparta Den Syaopin Str. 18/2 Bishkek Kyrgyzstan =========== R U S S I A =========== AGRIFIRM TSAREVSKIJ: Creditors Must File Claims by Dec. 13 ---------------------------------------------------------- Creditors of AgriFirm Tsarevskij Meat Integrated Plant CJSC have until Dec. 13 to submit their proofs of claim at: POB 28 Guzovskogo Str. 14 428000 Cheboksary Russia The Arbitration court of Cheboksary commenced one-year competitive proceedings against the company after finding it insolvent. The case is docketed under Case No. ?79-1718/2007. The Competitive proceedings manager is: Kolsanov I.A. Uralskaya Str. 134 350059 Krasnodar Russia The Debtor can be reached at: AgriFirm Tsarevskij Meat Integrated Plant CJSC Beregovaya Str. 2 Alatyr 429820 Cheboksary Russia FIRST UNITED: Moody's Assigns B3/NP Currency Deposit Ratings ------------------------------------------------------------ Moody's Investors Service assigned first-time B3/Not-Prime local currency deposit ratings, B3/Not-Prime foreign currency deposit ratings, and an E+ Bank Financial Strength Rating to Russia's First United Bank. The outlooks on all ratings are stable. At the same time, Moody's Interfax Rating Agency has assigned a Baa2.ru long-term national scale credit rating to the bank. Moscow-based Moody's Interfax is majority-owned by Moody's. According to Moody's, the E+ BFSR, which translates into a Baseline Credit Assessment of B3, is supported by FUB's established ties with OAO Novatek (Baa3/Stable), Russia's second-largest gas company, the bank's satisfactory financial indicators, notably profitability and asset quality, as well as the ability of the bank's shareholders to make additional contributions to maintain its adequate capitalisation. FUB's BFSR is constrained primarily by its limited franchise value and geographical concentration of business as, until recently, the bank had been focused on servicing a relatively narrow group of corporate and individual clients in its home Oblast of Samara (Ba1/Stable). Other negative rating drivers are large credit risk concentrations and undiversified structure of funding, which is to a large extent reliant on related parties. The bank's shareholders have recently adopted a new strategy focused on territorial expansion outside the home territory and retail business development. If implementation of the strategy results in a material increase in FUB's market shares and sustainable decline in concentrations on the both sides of its balance sheet, this could have positive implications for the bank's long-term deposit rating of B3. The local currency deposit rating assigned to FUB is supported by the bank's Baseline Credit Assessment of B3 and does not factor in any support from its shareholders. In Moody's view, although such support cannot be ruled out, its scope and timeliness are rather uncertain, while systemic support in the event of need is unlikely. The foreign currency deposit rating is assigned at the same level as the bank's local currency deposit rating and is not constrained by the foreign currency deposit ceiling for Russia. First United Bank is headquartered in Samara, Russian Federation and reported total assets of US$470 million under IFRS as of Dec. 31, 2006. The bank ranked 99th among Russian banks in terms of total assets as of June 30, 2007. INTERNATIONAL INDUSTRIAL: Fitch Holds B IDR with Stable Outlook --------------------------------------------------------------- Fitch Ratings has affirmed Russia-based International Industrial Bank's ratings at Long-term Issuer Default 'B', Short-term IDR 'B', Individual 'D', Support '5' and National Long-term 'BBB(rus)'. The Support Rating Floor is also affirmed at 'No Floor'. The Outlooks for the Long-term IDR and National Long- term rating remain Stable. The ratings reflect IIB's limited, albeit growing, franchise; significant business concentrations, including with related parties; and potentially vulnerable liquidity. At the same time, the ratings also consider IIB's strong capitalization, good profitability results and very low loan impairment to date. Asset volumes are growing significantly, driven by expanding lending; but somewhat slower than the Russian corporate market as a whole. IIB's core focus is the large corporate segment, where it already has an established presence, although mid-sized corporates grew in importance and accounted for around 26% of end of first half of 2007 loans. Concentration levels are falling, although they remain significant: the top 20 borrowers/loans ratio was 26% at end of first half of 2007, compared to 31% at end-2006. Reported related-party lending, net of allowance for impairment losses, is decreasing and reached 26% of equity at end of first half of 2007, compared to a maximum level of 50% permitted under a covenant in IIB's eurobond issues. Liquidity has been carefully managed so far. However, despite funding diversification efforts in second half of 2006 to 2007, dependence on core funding clients remains notable (the top 20 customers accounted for 44% of end of first half of 2007 liabilities). Combined with a small cushion of liquid assets, this makes the liquidity position potentially vulnerable. Capitalization remains strong. Although IIB's strategy is to gradually increase leverage, the Basle I total capital ratio is covenanted not to fall below 20% until 2010. Rating upside could come from a strengthening of the liquidity position and continued broadening of the franchise and reductions in concentrations, combined with maintenance of adequate capitalization. A significant tightening of liquidity or deterioration in asset quality would be likely to exert downward pressure on the ratings. At end of first half of 2007, IIB was one of the top 30 Russian banks by total assets. Business is mainly focused on larger corporates. The network is small, with only two branches and five other outlets. IIB is controlled by Sergei Pugachev (72% stake), who also has significant industrial interests in a broad range of sectors, consolidated under the management company United Industrial Corporation (also known as OPK). Since 2001, Mr. Pugachev has been a member of the upper house of the Russian parliament (Federation Council) from Tyva Republic KURKINOREPAIRBUILD MUE: Asset Sale Slated for November 13 --------------------------------------------------------- Auction Center Region LLC will open a public auction for the company's properties at 2:00 p.m. on Nov. 13 at: Office 610 Ryazanskaya Str. 1 Tula Russia The company has set a RUR46,443,600 starting price for the auctioned assets. Interested participants have until Nov. 6 to deposit an amount equivalent to 5% of the starting price to the settlement account of Auction Center Region LLC. Bidding documents must be submitted at: Office 610 Ryazanskaya Str. 1 Tula Russia The Debtor can be reached at: KurkinoRepairBuild MUE Zheleznodorozhnaya Str. 1 Kurkino Village Kurkinskij Raion Tula Russia NATIONAL STANDARD: Moody's Assign B3/NP Currency Deposit Ratings ---------------------------------------------------------------- Moody's Investors Service assigned first-time B3/Not-Prime local currency deposit ratings, B3/Not-Prime foreign currency deposit ratings, and an E+ Bank Financial Strength Rating to Russia's National Standard Bank. The outlooks on all ratings are stable. At the same time, Moody's Interfax Rating Agency has assigned a Baa3.ru long-term national scale credit rating to the bank. Moscow-based Moody's Interfax is majority-owned by Moody's. According to Moody's, the E+ BFSR, which translates into a Baseline Credit Assessment of B3, is supported by NS-Bank's satisfactory financial indicators, notably adequate capital position and low cost base. The bank's BFSR is also underpinned by its ultimate owner's ample financial resources, providing opportunities for market share growth through acquisitions. NS-Bank's BFSR is constrained primarily by its very short period of activity under the present business model as a new strategy aimed at its transformation from a captive bank into a market- oriented financial institution was adopted only in 2006. Further limiting the bank's BFSR are significant credit risk concentrations, insufficiently diversified structure of funding, which is to a large extent reliant on related parties, as well as relatively modest profitability and a dependence on gains from securities trading. The local currency deposit rating assigned to NS-Bank is supported by the bank's Baseline Credit Assessment of B3 and does not factor in any support from its shareholders. In Moody's view, although such support cannot be ruled out, its scope and timeliness are rather uncertain, while systemic support in the event of need is unlikely. The foreign currency deposit rating is assigned at the same level as the bank's local currency deposit rating and is not constrained by the foreign currency deposit ceiling for Russia. National Standard Bank is headquartered in Moscow and reported total assets of US$968 million under IFRS as of Dec. 31, 2006. NOVATEK OAO: Inks Joint Cooperation Protocol with Total ------------------------------------------------------- OAO Novatek and Total E&P Activities Petrolieres have signed a Protocol for joint cooperation in exploration and development activities. The Protocol contemplates that the companies will form working groups to define Russian and foreign assets for joint participation in natural gas and gas condensate projects. The cooperation with Total is supported by one of Novatek's main shareholders, OAO Gazprom. The signing of the Protocol was unanimously approved by the company's Board of Directors. About Novatek Headquartered in Tarko-Sale, Russia, OAO Novatek -- http://www.novatek.ru/-- engages in the exploration, production and processing of natural gas and liquid hydrocarbons. The company's upstream activities are concentrated in the prolific Yamal-Nenets Region in Western Siberia. * * * As reported in the TCR-Europe on Oct. 1, 2007, Standard & Poor's Ratings Services raised its long-term corporate credit rating on OAO NOVATEK, Russia's largest independent gas producer, to 'BB' from 'BB-', following a review of the company's first-half 2007 performance. S&P said the outlook is positive. OILPRODUCT LLC: Creditors Must File Claims by Nov. 13 ----------------------------------------------------- Creditors of North-West OilProduct LLC have until Nov. 13 to submit proofs of claim at: Lenina Str. 191 Blagoveschensk Russia The Arbitration court of Amur commenced bankruptcy supervision procedure on the company. The Court appointed Miroshnichenko M.V. as Interim manager. The case is docketed under Case No. ??4-5726/07-11/195 ?. The Debtor can be reached at: North-West OilProduct LLC Saint-Innocent Str. 1 Blagoveschensk Russia ROSNEFT OIL: Wants to Close Tomskneft Stake Sale by Yearend ----------------------------------------------------------- OAO Rosneft Oil Co. plans to complete the sale of a 50% stake in OAO Tomskneft, a former subsidiary of OAO Yukos Oil Co., by the end of 2007, Interfax News reports. As reported in the TCR-Europe on July 6, 2007, Rosneft said the proceeds from the sale have enabled it to complete recent announced acquisitions without raising any further debt. The company is also selling assets acquired from Yukos like Tomskneft VNK, Strezhevsky Oil Refinery, and other units operating in western and eastern Siberia, Interfax relates. The company said it has received payment for 50% of Tomskneft VNK and other assets. As previously reported in the Troubled Company Reporter-Europe, Rosneft has acquired other Yukos' assets through its subsidiaries in a series of auctions that started on March 27, 2007. Notably, its RN-Razvitiye unit repurchased its 9.44% stake from Yukos on March 27 for RUR197.8 billion; Neft-Aktiv acquired Yukos' East Siberian assets, which includes major oil production firm Tomskneft, for RUR177.7 billion. About Rosneft Headquartered in Moscow, Russia, OAO Rosneft Oil Co. -- http://www.rosneft.com/-- produces and markets petroleum products. The Company explores for, extracts, refines and markets oil and natural gas. Rosneft produces oil in Western Siberia, Sakhalin, the North Caucasus, and the Arctic regions of Russia. * * * As of July 17, 2007, OAO Rosneft Oil Co. carries a BB+ long-term corporate credit rating from Standard & Poor's Ratings Services. S&P said the outlook is positive. SIBERIAN PLANT: Bankruptcy Hearing Slated for Feb. 20, 2008 ----------------------------------------------------------- The Arbitration court of Novosibirsk will convene on Feb. 20, 2008, to hear the bankruptcy supervision procedure on Siberian Plant of Mining Machinery CJSC. The case is docketed under Case No. ?45-11255/07-29/35. The Interim Manger is: Tsarev S.I. POB 33 630011 Novosibirsk Russia The Court is located at: The Arbitration Court of Novosibirsk Kirova Str. 3 630007 Novosibirsk Russia The Debtor can be reached at: Siberian Plant of Mining Machinery CJSC Ob'edinenia Str. 3 Novosibirsk Russia SREDNETERESHANSKIJ OJSC: Asset Sale Slated for November 12 ---------------------------------------------------------- Shirikova E.V., the Competitve proceedings manager of Raion Food Integrated Plant Srednetereshanskij OJSC will open a public auction for the company's properties at 11:00 a.m. on Nov. 12 at: Office 106 Komsomol'skij Per. 3 Ulyanovsk Russia The company has set a RUR1,015,838 starting price for the auctioned assets. Deposit required is 20% of the starting price. Interested participants have until noon on Nov. 7 to submit their bidding documents at: Office 106 Komsomol'skij Per. 3 Ulyanovsk Russia Tel/fax: (8422) 42-08-23 Information related to the auction can be obtained at: Karbolitovskaya Str. 10 Kemerovo Russia TATARSTAN INNOVATION: Creditors Must File Claims by Dec. 13 ----------------------------------------------------------- Creditors of Tatarstan Innovation Petrochemical Company CJSC have until Dec. 13 to submit their proofs of claim at: POB 59 420049 Kazan Russia The Arbitration court of Tatarstan commenced competitive proceedings against the company after finding it insolvent. The case is docketed under Case No. ?65-4746/2007-??4-31. The Court is located at: The Arbitration Court of Tatarstan Room 12 Floor 2 Entrance 2 Building 1 Kremlin Kazan Tatarstan Russia The Debtor can be reached at: Tatarstan Innovation Petrochemical Company CJSC Shugurovo Township Leninogorskij Tatarstan Russia TATARSTANAGRIINDUSTSUPPLY OJSC: Asset Sale Slated for Nov. 13 ------------------------------------------------------------- Auction Center Osnova LLC, the bidding organizer of TatarstanAgriIndustSupply (Tatarstanagropromsnab) OJSC will open a public auction for the company's properties at 2:00 p.m. on Nov. 13 at: Chetaeva Str. 28 Kazan Tatarstan Russia The company has set a RUR300 million starting price for the auctioned assets. Interested participants have until Nov. 8 to deposit an amount equivalent to 5% of the starting price to the settlement account of Auction Center Osnova LLC. Bidding documents must be submitted to: Chetaeva Str. 28 Kazan Tatarstan Russia The Debtor can be reached at: TatarstanAgriIndustSupply (Tatarstanagropromsnab) OJSC Lesnaya Str. 1 St. Kindery Vysokogorskij Raion Tatarstan Russia Any Information related to the auction can be obtained at Tel: (843) 517-47-47, 517-48-48. TVERBESSER CJSC: Creditors Must File Claims by Dec. 13 ------------------------------------------------------ Creditors of TverBesser CJSC have until Dec. 13 to submit their proofs of claim. The Arbitration Court of Tver declared the company insolvent on Sept. 17. The case is docketed under Case No. ?66-391/2007. The Competitive proceedings manager is: Maltabar A.A. POB 619 170006 Tver Russia The Court is located at: The Arbitration Court of Tver Room 7 Sovetskaya Str. 23b Tver Russia The Debtor can be reached at: TverBesser CJSC Gorki Krasnye 1 Tver Russia ZABAIKAL'SKAYA CONSTRUCTION: Claims Filing Period Ends Nov. 13 -------------------------------------------------------------- Creditors of Zabaikal'skaya Construction Company CJSC have until Nov. 13 to submit their proofs of claim. The Arbitration court of Chita region commenced six months competitive proceedings on the company. The case is docketed under Case No. ?78-4401/2007 ?-337. The Competitive proceedings manager is: Cheremuhin B.P. POB 86 672045 Chita Russia The Debtor can be reached at: Zabaikal'skaya Construction Company CJSC Zabaikal'sk Chita Russia ZARYA CJSC: Creditors Must File Claims by Dec. 13 ------------------------------------------------- Creditors of Dzerzhinsk Chemical Absorbent Plant Zarya CJSC have until Dec. 13 to submit their proofs of claim at: POB 137 Lenina pr. 2 03011 Nizhnij Novgorod Russia The Arbitration court of Nizhnij Novgorod declared the company insolvent on Sept. 11. The case is docketed under Case No. ?43-2429/2007 27-27. The Competitive proceedings manager is: POB 619 170006 Tver Russia The Debtor can be reached at: Dzerzhinsk Chemical Absorbent Plant Zarya CJSC Lermontova Str. 20 Dzerzhinsk Nizhnij Novgorod Russia ===================== S W I T Z E R L A N D ===================== AMBALL SHOP: Creditors' Liquidation Claims Due January 3, 2008 --------