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, November 1, 2007, Vol. 8, No. 217 Headlines A U S T R I A COLUMBUS IT: Vienna Court Orders Business Shutdown FORMAT REISEN: Claims Registration Period Ends Nov. 15 GANZER MALERBETRIEB: Claims Registration Period Ends Nov. 15 MEZNER BAU: Vienna Court Orders Business Shutdown MTB INDUSTRIEMONTAGEN: Claims Registration Period Ends Nov. 19 X-TENDER: Administrator Declares Insufficient Assets ZIVKO STOJANOVIC: Vienna Court Orders Business Shutdown B E L G I U M URS CORP: Expects US$38.7 Million 2007 Third Quarter Net Income URS CORP: Postpones Special Stockholders Meeting to November 9 F R A N C E BOSTON SCIENTIFIC: Hires Two Officers in Clinical Sciences Group CHRYSLER LLC: UAW Members Ratify 2007 National Labor Agreement CHRYSLER LLC: UAW's Narrow Approval Cues S&P to Retain Watch DELPHI CORP: Amends Chapter 11 Reorganization Plan PERNOD RICARD: Net Sales Up 6.9% in First Quarter 2007/2008 G E R M A N Y ASAT HOLDINGS: Regains Nasdaq Listing Compliance BAHA-HANDELS-GMBH: Claims Registration Period Ends Dec. 10 DENTAL STUDIO: Claims Registration Period Ends Nov. 16 ECOMIZE GMBH: Claims Registration Period Ends November 27 G.T. TRANSPORTE: Claims Registration Period Ends Nov. 15 GAP INC: Issues Statement on Child Labor Allegations GEMEINNUETZIGE BILDUNGS: Claims Registration Period Ends Nov. 16 KABEL DEUTSCHLAND: Gains Access to EUR6050 Million Loan Facility KABEL DEUTSCHLAND: Financing Doesn't Change Moody's Ba3 Rating ROOSTER CLOTHING: Claims Registration Period Ends November 23 W. STENDEL GMBH: Claims Registration Period Ends November 22 I T A L Y ALITALIA SPA: TPG Capital Unable to Form Italian Consortium MICRON TECHNOLOGY: Names Robert L. Bailey as Director K A Z A K H S T A N ASIA-STROYEXPOKAZ LLP: Creditors Must File Claims by Dec. 7 DBK LEASING: Moody's Assigns Ba3/Not-Prime Currency Ratings ESTATE CONSULTING: Creditors Must File Claims by Dec. 7 GOLDEN PERL: Claims Filing Period Ends Dec. 7 KAZUVELIRPROM JSC: Claims Filing Period Ends Dec. 11 NEFTEHIMSERVICE LTD: Creditors' Claims Due by Dec. 7 NOVA LLP: Creditors Must File Claims by Dec. 7 PROTECHNICS COMPANY: Claims Registration Period Ends Dec. 7 REMPUT JSC: Creditors Must File Claims by Dec. 7 K Y R G Y Z S T A N NEZAVISIMAYA ENERGETICHESKAYA: Claims Registration Ends Dec. 1 TRANS-SERVICE ASIA: Creditors Must File Claims by Dec. 1 N E T H E R L A N D S GLOBAL POWER: Sells Boring Mill to Prestige for US$575,000 MORGAN STANLEY: Moody's Rates EUR16.75 Mln Class E Notes at Ba3 R U S S I A BALIZ CJSC: Court Starts Bankruptcy Supervision Procedure BUGUL'MINSKIJ DOK: Bidders Have Until Nov. 20 to Submit Offers BUJNAKSKAYA: Creditors Must File Claims by Dec. 27 DISTILLERY NOVOSLOBODSKIJ: Asset Sale Slated for November 27 KUZBASSENERGOSTROY LLC: Creditors Must File Claims by Dec. 27 POLOVINSKIE ME: Creditors Must File Claims by Dec. 27 PROMNERUD OJSC: Asset Sale Slated for November 30 ROSNEFT OIL: Competition Regulator Okays Tomskneft Stake Sale SIBIRSKOYE OJSC: Asset Sale Slated for November 30 SISTEMA JSFC: Names Vitaly Savelyev as Telecommunications Head TELECOMSTROY CJSC: Creditors Must File Claims by Dec. 27 WOOD-WORKING CJSC: Creditors Must File Claims by Dec. 27 S W I T Z E R L A N D ISOTIS INC: Stockholders Approve Sale of Company to Integra U K R A I N E DVORECHNAYA MEAT-PROCESSING: Creditors Claims Due by Nov. 2 GRIN LLC: Creditors Must File Claims by Nov. 2 KAYTANOVKA LLC: Creditors Must File Claims by Nov. 2 KIEVSCHINA LLC: Creditors Must File Claims by Nov. 2 KIM GAS: Creditors Must File Claims by Nov. 2 MINE BUILDING 2: Claims Filing Period Ends Nov. 2 POOL-MARKET LLC: Creditors Must File Claims by Nov. 2 RMI-UKRAINE LLC: Creditors Must File Claims by Nov. 2 SEREDINO-BUDSKY PLANT: Creditors Must File Claims by Nov. 2 SHEVCHENKOV RAY: Creditors Must File Claims by Nov. 2 SVIGOR LLC: Creditors Must File Claims by Nov. 2 TRIUMPH-TECHNOLOGY: Creditors Must File Claims by Nov. 2 WORLD PACK: Creditors Must File Claims by Nov. 2 U N I T E D K I N G D O M AUTOBEX LTD: Taps Smith & Williamson to Administer Assets BAUSCH & LOMB: Completes Sale to Warburg Pincus for US$4.5 Bln BOALLOY INDUSTRIES: Appoints Joint Administrators from PwC BUCKLEY & BLAND: Brings In Administrators from Begbies Traynor CHEMTURA CORP: Paying Five Cents Per Share Dividend on Nov. 23 CHRYSLER LLC: Appoints Douglas Betts as Vice President & CCO EMMAZE PRESENTS: Claims Filing Period Ends November 23 HUGHES BRICKWORK: Brings In Liquidators from KPMG LAKESIDE PACKAGING: Names Michael C. Kienlen as Liquidator MOORE CHOICE: Calls In Liquidators from Tenon Recovery POPE & TALBOT: CCAA Protection Cues S&P to Put Default Ratings POWER REWIND: Claims Filing Period Ends November 30 SAMSONITE CORP: Completed CVC Deal Cues S&P to Withdraw Ratings SCO GROUP: Court Approves Berger Singerman as Co-Counsel SCO GROUP: Gets Court OK to Hire Pachulski Stang as Co-Counsel SMART COATINGS: A. Poxon Leads Liquidation Procedure SOLARLITE LTD: Taps M. C. Bowker to Liquidate Assets SOS RECORDS: Appoints J. M. Titley as Liquidator VEHICLE CONNECT: Court to Hear Wind Up Petition on Jan. 23, 2008 * Upcoming Meetings, Conferences and Seminars ********* ============= A U S T R I A ============= COLUMBUS IT: Vienna Court Orders Business Shutdown -------------------------------------------------- The Trade Court of Vienna entered on Sept. 28 an order shutting down the business of LLC COLUMBUS IT Partner (FN 153910p). Court-appointed estate administrator Susi Pariasek 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. Susi Pariasek c/o Mag. Beate Holper Gonzagagasse 15 1010 Vienna Austria Tel: 533 28 55 Fax: 533 28 55 28 E-mail: office@anwaltwien.at Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Sept. 17 (Bankr. Case No 2 S 123/07m). Beate Holper represents Dr. Pariasek in the bankruptcy proceedings. FORMAT REISEN: Claims Registration Period Ends Nov. 15 ------------------------------------------------------ Creditors owed money by LLC Format Reisen (FN 44109t) have until Nov. 15 to file written proofs of claim to court-appointed estate administrator Friedrich Filzmaier at: Mag. Friedrich Filzmaier Herrengasse 22/2 8010 Graz Austria Tel: 0316/820202 Fax: 0316/820202-20 E-mail: filzmaier@merkf.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 11:00 a.m. on Nov. 22 for the examination of claims. The meeting of creditors will be held at: The Land Court of Graz Room 222 Second Floor Graz Austria Headquartered in Graz, Austria, the Debtor declared bankruptcy on Oct. 3 (Bankr. Case No. 26 S 82/07i). GANZER MALERBETRIEB: Claims Registration Period Ends Nov. 15 ------------------------------------------------------------ Creditors owed money by KEG Ganzer Malerbetrieb (FN 279033v) have until Nov. 15 to file written proofs of claim to court- appointed estate administrator Hans Georg Popp at: Mag. Hans Georg Popp Bahnhofstrasse 22/1 8112 Gratwein Austria Tel: 03124/55077 Fax: 03124/55077-4 E-mail: popp.ra@magnet.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:00 a.m. on Nov. 22 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 Gratwein, Austria, the Debtor declared bankruptcy on Oct. 1 (Bankr. Case No. 26 S 77/07d). MEZNER BAU: Vienna Court Orders Business Shutdown ------------------------------------------------- The Trade Court of Vienna entered on Sept. 28 an order shutting down the business of LLC MEZNER Bau Management Service (FN 286658g). Court-appointed estate administrator Andrea Simma 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. Andrea Simma Schulerstrasse 18 1010 Vienna Austria Tel: 513 67 03 Fax: 513 67 03 33 E-mail: RA_Simma@aon.at Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Sept. 21 (Bankr. Case No 28 S 107/07z). MTB INDUSTRIEMONTAGEN: Claims Registration Period Ends Nov. 19 -------------------------------------------------------------- Creditors owed money by LLC MTB Industriemontagen (FN 278029t) have until Nov. 19 to file written proofs of claim to court- appointed estate administrator Peter Pullez at: Dr. Peter Pullez Tuchlauben 8 1010 Vienna Austria Tel: 513 29 79 Fax: 513 29 79-25 E-mail: pullezgschwandtner@aon.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:45 a.m. on Dec. 3 for the examination of claims. The meeting of creditors will be held at: The Trade Court of Vienna Room 1705 Vienna Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Sept. 28 (Bankr. Case No. 3 S 122/07x). X-TENDER: Administrator Declares Insufficient Assets ---------------------------------------------------- Dr. Leopold Riess, the court-appointed estate administrator for LLC X-Tender Elektroinstallation (FN 268561v), declared that the Debtor's property is insufficient to cover creditors' claim. The Trade Court of Vienna is yet to rule on the estate administrator's claim. The estate administrator can be reached at: Dr. Leopold Riess c/o Dr. Eva Riess Zeltgasse 3/12 1080 Vienna Austria Tel: 402 57 01 Fax: 402 57 01 21 E-mail: law@riess.co.at Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Sept. 7 (Bankr. Case No. 5 S 107/07f). ZIVKO STOJANOVIC: Vienna Court Orders Business Shutdown ------------------------------------------------------- The Trade Court of Vienna entered on Oct. 1 an order shutting down the business of KEG Zivko Stojanovic (FN 211490s). Court-appointed estate administrator Felix Stortecky 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. Felix Stortecky c/o Dr. Katharina Widhalm-Budak Schulerstrasse 18 1010 Vienna Austria Tel: 513 88 37 Fax: 512 88 37 22 E-mail: office@stortecky.at widhalm-budak@anwaltsteam.at Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Sept. 10 (Bankr. Case No 5 S 109/07z). Katharina Widhalm- Budak represents Dr. Stortecky in the bankruptcy proceedings. ============= B E L G I U M ============= URS CORP: Expects US$38.7 Million 2007 Third Quarter Net Income --------------------------------------------------------------- URS Corporation disclosed preliminary unaudited financial results for its third quarter ended Sept. 28, 2007. URS expects third quarter 2007 revenues to be US$1.302 billion, an increase of 20% compared with revenues of US$1.085 billion for the third quarter of 2006. Net income for the third quarter of 2007 is expected to be US$38.7 million, an increase of 29% from net income of US$29.9 million for the comparable period in 2006. The preliminary results are being disclosed to provide stockholders of URS and Washington Group International with additional financial information regarding URS prior to upcoming stockholder meetings. Washington Group stockholders are scheduled to meet on Oct. 30, 2007 to vote upon the proposed acquisition of Washington Group by URS. A Special Meeting of URS Stockholders also is scheduled to be held Oct. 30, 2007, to vote on the issuance of shares in conjunction with the transaction. In conjunction with the announcement of preliminary third quarter results, the Company issued the following statement: "A key component of the transaction value for Washington Group stockholders is the URS shares they will receive if the acquisition is approved. The Company believes it is important that Washington Group stockholders have this additional financial information before their vote scheduled for Oct. 30, 2007. URS continues to perform very well, and our results for the quarter reflect good growth across each of our four key market sectors, the federal sector, the state and local government sector, the private sector and international." "URS believes that the combination with Washington Group offers a compelling value for Washington Group stockholders, including the potential upside of owning almost one-third of the combined company, which we expect will be better positioned to capture opportunities in high-growth markets." URS will release its full financial results for the third quarter on Nov. 7, 2007, after the market close, and will update its guidance for fiscal 2007 at that time. The preliminary unaudited financial results are estimates and are subject to further review and analysis by the company's management as part of the normal quarterly closing process currently under way. About URS Corporation Headquartered in San Francisco, California, URS Corporation (NYSE:URS) -- http://www.urscorp.com/-- offers a comprehensive range of professional planning and design, systems engineering and technical assistance, program and construction management, and operations and maintenance services for transportation, facilities, environmental, water/wastewater, industrial infrastructure and process, homeland security, installations and logistics, and defense systems. The company operates in more than 20 countries with approximately 29,500 employees providing engineering and technical services to federal, state and local governmental agencies as well as private clients in the chemical, pharmaceutical, oil and gas, power, manufacturing, mining and forest products industries. The company also has offices in Argentina, Australia, Belgium, China, France, Germany, Mexico, among others. * * * As reported in the Troubled Company Reporter-Latin America on Sept. 21, 2007, Standard & Poor's Ratings Services assigned its 'BB+' bank loan rating and '2' recovery rating to URS Corp.'s proposed US$2.1 billion senior secured credit facilities, indicating expectations of substantial recovery in the event of a payment default. The facilities are rated the same as the corporate credit rating on the company. As reported in the Troubled Company Reporter on Sept. 20, 2007, Moody's Investors Service assigned a provisional rating of (P)Ba1 to the proposed US$2.1 million senior secured credit facility of URS Corporation, which will be used to finance its pending acquisition of Washington Group International Inc. URS CORP: Postpones Special Stockholders Meeting to November 9 -------------------------------------------------------------- URS Corporation has postponed its previously scheduled special meeting of stockholders to approve the issuance of shares in connection with the proposed acquisition by URS of Washington Group International, Inc. to Nov. 9, 2007. URS is postponing its meeting in light of the decision by Washington Group to postpone its special meeting of stockholders. The special meeting of URS stockholders will be held at 10:00 a.m. (Pacific Daylight Time) on November 9 at the offices of Cooley Godward Kronish LLP, located at 101 California Street, 5th Floor in San Francisco, California 94111-5800. Stockholders of record as of the close of business on Sept. 21, 2007, will be entitled to vote at the meeting. Headquartered in San Francisco, California, URS Corporation (NYSE:URS)-- http://www.urscorp.com/-- is an engineering design services firm and a United States federal government contractor for systems engineering and technical assistance and operations and maintenance services. The company's business focuses primarily on providing fee-based professional and technical services in the engineering and construction services and defense markets, although the company performs some limited construction work. It operates through two divisions: the URS Division and the EG&G Division. The company also has offices in Argentina, Australia, Belgium, China, France, Germany, and Mexico, among others. * * * As reported in the Troubled Company Reporter on Sept. 21, 2007, Standard & Poor's Ratings Services assigned its 'BB+' bank loan rating and '2' recovery rating to URS Corp.'s proposed $2.1 billion senior secured credit facilities, indicating expectations of substantial recovery in the event of a payment default. The facilities are rated the same as the corporate credit rating on the company. As reported in the Troubled Company Reporter on Sept. 20, 2007, Moody's Investors Service assigned a provisional rating of (P)Ba1 to the proposed $2.1 million senior secured credit facility of URS Corporation, which will be used to finance its pending acquisition of Washington Group International Inc. =========== F R A N C E =========== BOSTON SCIENTIFIC: Hires Two Officers in Clinical Sciences Group ---------------------------------------------------------------- Boston Scientific reported that Keith Dawkins, M.D., and Takahiro Uchida, M.D., will be joining the company's Clinical Sciences organization. Dr. Dawkins will serve as Senior Vice President and Associate Chief Medical Officer, sitting on both the Clinical Leadership team and the company's Operating Committee. He is an internationally known senior interventional cardiologist at Southampton University Hospital in England, and a former President of the British Cardiovascular Society. He trained in medicine at London University (Guy's Hospital), and in cardiology at the Brompton Hospital (London), John Radcliffe Hospital (Oxford), and Stanford University Medical Center. He has served as an advisor to the Department of Health in the United Kingdom, and he has worked closely with a number of regulatory agencies there, including the Medicines and Healthcare Products Regulatory Agency and the National Institute for Clinical Excellence. He will be responsible for leading the medical input process for the company's Interventional Cardiology, Peripheral Intervention and Neurovascular businesses. He will also participate in the formulation and execution of technology strategies for both internal research and development, as well as business development activities. In addition, he will oversee development and dissemination of scientifically based education materials to inform customers and regulators. "We are delighted to have Dr. Dawkins joining us," said Donald S. Baim, M.D., Boston Scientific's Chief Medical and Scientific Officer. "He is a well-published scientific contributor who has been actively involved in the development of the TAXUS(R) Stent System. He is also a respected medical lecturer who is universally recognized for his keen insights into a broad variety of cardiology and cardiology device-related issues. The addition of Dr. Dawkins will greatly enhance the capabilities of the Clinical Sciences organization at Boston Scientific." Dr. Dawkins will join the company in January. Dr. Takahiro Uchida, who will serve as a Director in Clinical Research and as Medical Director, International, is another key addition to the Clinical Sciences organization. He is a skilled interventional cardiologist who received his Medical Degree from Fukushima Medical University, followed by an M.S. in Epidemiology from the Harvard School of Public Health, and a Doctor of Philosophy in Medicine from Tokyo Women's Medical University. After training with the Japanese Pharmaceuticals and Medical Devices Agency (PMDA), Dr. Uchida became a research fellow in the Division of Clinical Biometrics at the Brigham and Women's Hospital and the Harvard Clinical Research Institute. Most recently, Dr. Uchida has served as a Medical Officer in the Interventional Cardiovascular Device Branch of the Center for Devices and Radiological Health (CDRH) of the U.S. Food and Drug Administration. He will be responsible for providing high-level medical input on the design, regulatory strategy and conduct of a broad range of international trials concentrated in the cardiovascular area, while also providing a strong communication link to the key regulatory bodies and customer base worldwide. "Dr. Uchida will play an important role on our global Clinical Sciences team," said Dr. Baim. "He is well qualified for his important new role by virtue of his training as an interventional cardiologist, uniquely augmented by his experience with clinical trials from both the biostatistical trial conduct and regulatory perspectives, through his service with the Japanese and U.S. regulatory agencies." Dr. Uchida will join the company in December. "The addition of these two highly capable individuals significantly strengthens Boston Scientific's Clinical Sciences' capabilities, and further enhances our ability to serve as the 'voice of the patient' by providing the highest-level expert clinical input throughout the product life cycle of our current and future medical devices," added Dr. Baim. "Combined with the talents of nearly 400 other professionals within our group, the unique skills and contributions of Dr. Dawkins and Dr. Uchida will be invaluable in helping us maintain and expand Boston Scientific's worldwide leadership in the treatment of cardiovascular disease and the broad range of other life- threatening and disabling diseases." 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-Latin America on Oct. 24, 2007, Standard & Poor's Ratings Services affirmed its ratings on Natick, Massachussetts-based Boston Scientific Corp. (including the 'BB+' corporate credit rating) and removed them from CreditWatch, where they were placed with negative implications Aug. 3, 2007. CHRYSLER LLC: UAW Members Ratify 2007 National Labor Agreement -------------------------------------------------------------- Chrysler LLC confirmed, on Saturday, Oct. 27, 2007, a new Chrysler LLC-United Auto Workers Union 2007 national labor agreement, in response to UAW's ratification results. UAW members voted to ratify the new collective bargaining agreement with Chrysler, with 56% votes in favor of the four- year pact among production workers, and 51% in favor among skilled trades workers. About 94% of office and clerical workers voted in favor of the agreement, and 79% of UAW- represented Chrysler engineering workers approved the contract. According to various reports citing sources familiar with the matter, Local 1268, the last plant in Beldivere, Illinois to vote on the contract, turned down the agreement by 55%. However, the contract's headroom of victory before the Belvidere vote was enough for it to be approved. As reported in the Troubled Company Reporter on Oct. 26, 2007, citing The Wall Street Journal, results from four major Chrysler plants in Michigan came in favor of the contract, tilting the ratification scale towards the approval of the pact. Except for a union local in Beldivere, Illinois, about 55% of the total vote count from 26 of 27 union locals has accepted the tentative agreement. Chrysler and the UAW reached a tentative agreement on Oct. 10, after three months of bargaining and following a six-hour nationwide UAW strike against the company. "We are pleased that our UAW employees recognize that the new agreement meets the needs of the company and its employees by providing a framework to improve our long-term manufacturing competitiveness," Tom LaSorda, Vice Chairman and President, Chrysler LLC, said. "Our members had to face some tough choices, and we had a solid, democratic debate about this contract," UAW President Ron Gettelfinger said. "Now we�re going to come together as a union -- and now it�s on the company to move ahead, increase their market share and continue to build great cars and trucks here in the U.S." "There�s no question this was a difficult set of negotiations during difficult times for the U.S. auto industry," UAW Vice President General Holiefield, who heads the union�s Chrysler Department, said. "But with the support of our membership and local leadership, we have an agreement that secures jobs and wages and protects health care and pension benefits." The new contract covers approximately 45,000 active workers at Chrysler and more than 55,000 Chrysler retirees and 23,000 surviving spouses. It will expire on Sept. 14, 2011. About Chrysler LLC Headquartered in Auburn Hills, Michigan, Chrysler LLC -- http://www.chrysler.com/-- produces Chrysler, Jeep(R), Dodge and Mopar(R) brand vehicles and products. 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's Narrow Approval Cues S&P to Retain Watch ------------------------------------------------------------ Standard & Poor's Ratings Services said its corporate credit ratings on Chrysler LLC and DaimlerChrysler Financial Services Americas LLC remain on CreditWatch with positive implications, following the United Auto Workers' narrow approval of the new Chrysler-UAW labor contract. The ratings were placed on CreditWatch on Sept. 26, 2007, based on S&P's belief that Chrysler would reach a deal similar to the one General Motors Corp. reached with the UAW on that date. Chrysler and the UAW subsequently reached their own four-year agreement as expected, and the UAW has now approved that contract. "We view the new contract as favorable to Chrysler compared with past agreements," said Standard & Poor's credit analyst Robert Schulz, "and we believe the contract will support the company's turnaround plan in North America." The new contract is reported to contain many of the same features as the GM contract, including a new VEBA trust designed to take responsibility for postretirement health care expenses and a lower-tier wage structure for new hires. The main focus of S&P's analysis in resolving the CreditWatch listing will be the effect of the new contract on Chrysler's liquidity in the near term, as well as prospects for Chrysler's cash flow and liquidity during the next two years. S&P will view the new contract in light of Chrysler's multiyear plan to return its North American operations to profitability, and S&P will weigh the costs and benefits of the new contract, given the company's workforce and retiree demographics. Over the next two years, all three Michigan-based automakers will face a range of challenges unrelated to their new contracts, including slowing U.S. light-vehicle sales and shifts away from what had been their most profitable vehicle segments in recent years. About Chrysler LLC Headquartered in Auburn Hills, Michigan, Chrysler LLC -- http://www.chrysler.com/-- produces Chrysler, Jeep(R), Dodge and Mopar(R) brand vehicles and products. The company has dealers worldwide, including Canada, Mexico, U.S., Germany, France, U.K., Argentina, Brazil, Venezuela, China, Japan and Australia. * * * 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. DELPHI CORP: Amends Chapter 11 Reorganization Plan -------------------------------------------------- Delphi Corp., on Oct. 30, 2007, filed potential amendments to its Joint Plan of Reorganization and related Disclosure Statement with the U.S. Bankruptcy Court for the Southern District of New York. The notice of potential amendments was filed in accordance with a timetable established by the Bankruptcy Court for the resumption on Nov. 8, 2007, of the Disclosure Statement hearing commenced earlier this month on Oct. 3, 2007. The filing, which remains subject to further amendment by the company on Nov. 7, pursuant to the Bankruptcy Court's scheduling order, also included amendments to the Global Settlement Agreement and Master Restructuring Agreement between Delphi and General Motors Corp. and to the Investment Agreement with Delphi's Plan Investors which are led by an affiliate of Appaloosa Management L.P. Delphi also filed a separate motion seeking approval of the proposed amendment to the Investment Agreement at the Nov. 8, 2007 hearing. The proposed Investment Agreement amendment, which has been executed by Appaloosa and a supermajority of the Plan Investors, is subject to the satisfaction of various conditions including Appaloosa's approval of exit financing terms under discussion with the company's principal lead lenders and execution of the amendment by one additional plan investor prior to the Nov. 8 hearing. "Last evening's filings represent further substantial progress in our Chapter 11 cases in a challenging capital markets environment," said John Sheehan, Delphi vice president and chief restructuring officer. "These very focused potential amendments reflect current market conditions, commensurate changes to our proposed emergence capital structure and form of plan currency contemplated for stakeholder distributions, and an effective reduction of less than five percent in plan value to reflect macroeconomic and industry conditions and uncertainties." The potential amendments contemplate an approximate US$2 billion reduction in the company's net debt at emergence. Further, the potential amendments reflect reductions in stakeholder distributions to some junior creditors and interest holders required to obtain consensus among Delphi's Creditors' Committee, Plan Investors and settling parties, and changes required by our Plan Investors and settling parties to obtain their endorsement of the Plan and Disclosure Statement, the company's settlements with GM and its US labor unions, the company's emergence business plan and related agreements. The potential amendments filed by the company include changes to the Plan Investors' direct investment and certain stakeholder recoveries: Party Original Plan Potential Amendment ----- ------------- ------------------- Plan Direct Investment Direct Investment Investors * Purchase US$400MM. * Purchase US$400MM of preferred stock of preferred stock convertible at an convertible at an assumed enterprise assumed enterprise value of US$11.75B value of US$10.80B * Purchase US$400MM * Purchase US$400MM of preferred stock of preferred stock convertible at an convertible at an assumed enterprise assumed enterprise value of US$12.80B value of US$11.80B * Purchase US$175MM * Purchase US$175MM of New Common Stock of New Common Stock at an assumed plan at an assumed plan value of US$12.8B value of US$11.8B GM Recovery of US$2.7B Recovery of US$2.7B * US$2.7B in Cash * US$750MM in Cash * US$750MM in second lien note * US$1.2B in junior conv. preferred stock Unsecured Par + accrued recovery Par + accrued recovery Creditors at Plan value of US$13.9B at Plan value of US$13B * 80% in New Common * 92.4% in New Common Stock valued stock valued at at US$45 per share US$41.58 per share * 20% in Cash * 7.6% through prorata participation in the Discount Rights Offering at US$34.98 per share TOPrS Par + accrued recovery Par only recovery at at Plan value of US$13.9B Plan value of US$13.0B * 100% in New Common * 92.4% in New Common Stock valued at Stock valued at US$45 per share US$41.58 per share * 7.6% through prorata participation in the Discount Rights Offering at US$34.98 per share Existing Par Value Rights Par Value Rights Common Stockholders * Right to acquire * Right to acquire approx. 12,711,111 approx. 12,711,111 shares of New Common shares of New Common Stock at a purchase Stock at a purchase price of US$45.00 price of US$41.58 per share per share Warrants Warrants * Warrants to acquire * Warrants to acquire an additional 5% US$1.0B of New Common of New Common Stock Stock at US$45.00 per at US$45.00 per share share exercisable exercisable for five for six months years after emergence after emergence Direct Distribution No provision for Direct Distribution * 1,476,000 shares of New Common Stock Participation in No Provision for Discount Participation in Rights Offering Discount Rights Offering * Right to purchase 40,845,016 shares of New Common Stock at a purchase price of US$38.56 per share Although the potential amendments are supported by the Creditors Committee, GM and the Plan Investors, Delphi has been advised by the Equity Committee that it will no longer support the company's Plan if amended to reduce recoveries to common stockholders as contemplated in the potential amendments. Absent a consensual resolution of the Equity Committee's concerns, the Committee is expected to file objections to the Disclosure Statement and Plan, seek a further adjournment of the continued Disclosure Statement hearing and current emergence timetable, and seek other relief from the Bankruptcy Court. Delphi will continue to work towards a consensus among its principal stakeholders, including the Equity Committee, however, the likelihood of such an outcome was speculative and not assured. A blacklined copy of the changed pages in the Disclosure Statement is available for free at: http://ResearchArchives.com/t/s?24ab A blacklined copy of the changed pages in the Plan is available for free at http://ResearchArchives.com/t/s?24ac A full-text copy of the potential amendments and the Investment Agreement Amendment Approval Motion and related pleadings can be obtained at http://www.delphidocket.com/ Adequacy of Disclosure Statement The hearing to consider the adequacy of the Disclosure Statement began on Oct. 3, 2007, and is scheduled to continue on Nov. 8, 2007. The brief adjournment allowed Delphi to continue to negotiate potential Plan of Reorganization (POR) amendments with key stakeholders, make appropriate amendments to both the GM settlement documentation and the Equity Purchase Commitment Agreement, and continue discussions with potential exit lenders. Approval of the Disclosure Statement and related voting solicitation procedures permits the company to solicit acceptances of the proposed Plan of Reorganization later this year and seek confirmation of the Joint Plan of Reorganization by the Bankruptcy Court during the first quarter of 2008. About Delphi Headquartered in Troy, Michigan, Delphi Corporation (OTC: DPHIQ) -- http://www.delphi.com/-- is the single supplier of vehicle electronics, transportation components, integrated systems and modules, and other electronic technology. The company's technology and products are present in more than 75 million vehicles on the road worldwide. Delphi has regional headquarters in Japan, Brazil and France. The company filed for chapter 11 protection on Oct. 8, 2005, (Bankr. S.D.N.Y. Lead Case No. 05-44481). John Wm. Butler Jr., Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, represent the Debtors in their restructuring efforts. Robert J. Rosenberg, Esq., Mitchell A. Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP, represents the Official Committee of Unsecured Creditors. As of Mar. 31, 2007, the Debtors' balance sheet showed US$11,446,000,000 in total assets and US$23,851,000,000 in total debts. The Debtors' exclusive plan-filing period expires on Dec. 31, 2007. On Sept. 6, 2007, the Debtors filed their Chapter 11 Plan of Reorganization and a Disclosure Statement explaining that Plan. (Delphi Bankruptcy News, Issue No. 93; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000). PERNOD RICARD: Net Sales Up 6.9% in First Quarter 2007/2008 ----------------------------------------------------------- Pernod Ricard S.A.'s consolidated net sales, excluding duties and taxes, for the period July 1 to Sept. 30, 2007, increased +6.9% to EUR1.6 billion, compared to EUR1.5 billion in the same period a year ago. Organic growth was +11.6%, with foreign exchange and group structure impacts of -1.9% and -2.4%, respectively. Over the full 2007/08 financial year, the Group structure effect is estimated at a negative of around EUR110 million on sales, and a negative of around EUR10 million on operating profit from ordinary activities. In addition, the foreign exchange effect on operating profit from ordinary activities may be estimated between a negative EUR60 to EUR70 million at current exchange rates. The spirits business recorded growth of +13.4%*, due to good performance by all geographic regions. The wines business improved by +3.3%*. The development of the Group's luxury brands remains one of the leading growth drivers (premium brands +23 %***). In total, the growth by all 15 strategic brands reached +9% in volume and +16%* in value. Nine of them recorded double-digit growth rates in value*: Martell (+39%), Jameson (+24%), Ballantine's (+22%), Havana Club (+22%), Chivas Regal (+19%), Mumm (+19%), Malibu (+13%), The Glenlivet (+13%) and Jacob�s Creek (+10%). Other Group spirits brands registered growth overall, in particular with the success of premium and ultra premium brands (Aberlour and Royal Salute) and standard premium brands (Ararat, Something Special, Wyborowa and Olmeca) and this, in spite of difficulties encountered by 100 Pipers (Thailand), Montilla (Brazil) and Hiram Walker Liqueurs (US). The wines business excluding champagne posted growth, focusing on the fast-growing premium brand portfolio and featuring a decline in secondary brands. All geographic regions contributed to organic growth: Asia/Rest of World: EUR498 million (+12.4%, being organic growth +13%) Again, China showed great strength, posting net sales organic growth of +30%, in particular due to Martell and Ballantine's superior qualities, and this, in spite of slower growth observed in the whisky category. India also recorded very strong growth due to its Indian whisky portfolio, including Royal Stag, Imperial Blue and Blenders Pride, and to the success of imported whisky brands, especially Chivas Regal and Ballantine's. Starting from a lower sales level, most other markets also posted strong double-digit growth: Taiwan, Malaysia, Indonesia, Vietnam, whereas Thailand slowed down its decline. South Africa, where Jameson continued to make its breakthrough, registered further strong growth. Asian Duty Free was also dynamic with Chivas Regal, Ballantine's and Martell. The Pacific Region (Australia and New Zealand) declined following strong price increases, which especially affected wine brands. * Organic growth ** Country with a GNP/capita < US$10,000 *** Brands of an equal or superior quality to Chivas Regal 12 yo and Martell VS. Americas: EUR393 million (-3.1%, organic growth +11%) North America (organic growth: +7.1%) Jameson, Malibu, The Glenlivet and Wild Turkey continued to expand rapidly in the U.S. Chivas Regal sales increased slightly, whereas Martell and Mumm declined following the price increases. Kahlua and Beefeater sales decreased again. The wine and champagne portfolio grew strongly (Perrier-Jouet, Mumm Napa, Jacob's Creek, Montana, Campo Viejo). Growth remained strong over the quarter in Canada and Mexico. Central and South America (organic growth: +34.1%) Central and South America experienced outstanding growth, primarily due to Chivas Regal (Venezuela), Ballantine�s (Brazil, Chile) and Havana Club (Chile, Cuba). Europe: EUR508 million (+10.9%, being organic growth +12%) Europe recorded a sharp acceleration, especially for the 15 strategic brands whose sales increased by +16%*. Sales growth was enhanced by favorable comparison bases. Sales increased in most European countries; Western European countries experienced the strongest growth overall, whereas Central and Eastern Europe, notably Russia and Poland, developed rapidly. France: EUR157 million (organic growth +5%) First quarter sales held up well in France, with dynamic sales by most whisky brands, in particular premium brands (Chivas Regal, Aberlour, The Glenlivet), partly due to strong promotional activities. Mumm gained market shares and benefited from price increases in the previous financial year and a favorable mix effect (vintage and rose). Aniseed product sales declined, due to bad weather in the summer and in spite of a marked recovery in September. "First quarter performance was excellent and again illustrated the success of our premiumization strategy and development in emerging countries. These very good results enable the confirmation, in current market conditions and on a like-for- like basis*, of guidance of strong growth in sales and operating profit from ordinary activities for Pernod Ricard in 2007/08," Patrick Ricard specified. A guidance figure for organic growth in operating profit from ordinary activities will be released at the Annual General Meeting on Nov. 7, 2007. * Organic growth ** Change and Group structure About Pernod Ricard Headquartered in Paris, France, Pernod Ricard -- http://www.pernod-ricard.com/-- produces and distributes spirits and wines. The Company operates in Europe, North America, Central and South America, and the Asia-Pacific region. * * * Pernod Ricard carries Standard & Poor's BB+ ratings on its 5.245% floating rate notes and 4-5/8% unsubordinated notes. ============= G E R M A N Y ============= ASAT HOLDINGS: Regains Nasdaq Listing Compliance ------------------------------------------------ ASAT Holdings Limited received a Nasdaq Staff Letter, dated Oct. 25, 2007, advising that the company regained compliance with the US$1 minimum bid price requirement for continued listing found in Nasdaq Marketplace Rule 4320(e)(2)(E)(ii). On July 30, 2007, Nasdaq notified the company that its American Depositary Shares failed to maintain the minimum bid price of US$1 over the previous 30 consecutive business days as required by the Nasdaq Marketplace Rules. Since then, the closing bid price of the company's American Depositary Shares has been at US$1 per share or greater for at least 10 consecutive business days. Therefore, the company was informed by Nasdaq that this matter is now closed. 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 $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. BAHA-HANDELS-GMBH: Claims Registration Period Ends Dec. 10 ---------------------------------------------------------- Creditors of BAHA-Handels-GmbH have until Dec. 10 to register their claims with court-appointed insolvency manager Tobias Hoefer. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on Jan. 8, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Aschaffenburg Meeting Hall 5.103 First Floor Schlossplatz 5 63739 Aschaffenburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Tobias Hoefer Wermbachstr. 19 63739 Aschaffenburg Germany Tel: 06021/444 080 Fax: 06021/444 0820 The District Court of Aschaffenburg opened bankruptcy proceedings against BAHA-Handels-GmbH on Oct. 10. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: BAHA-Handels-GmbH Glattbacher Str. 88 63741 Aschaffenburg Germany DENTAL STUDIO: Claims Registration Period Ends Nov. 16 ------------------------------------------------------ Creditors of Dental Studio Kalber GmbH have until Nov. 16 to register their claims with court-appointed insolvency manager Carin Hoesel-Eichinger. Creditors and other interested parties are encouraged to attend the meeting at 10:15 a.m. on Dec. 2, at which time the insolvency manager will present her first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of 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: Carin Hoesel-Eichinger Aussere Sulzbacher Str. 155 90489 Nuremberg Germany Tel: 0911/586178-0 Fax: 0911/586178-20 The District Court of Nuremberg opened bankruptcy proceedings against Dental Studio Kalber GmbH on Oct. 15. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Dental Studio Kalber GmbH Nordring 107 90409 Nuremberg Germany ECOMIZE GMBH: Claims Registration Period Ends November 27 --------------------------------------------------------- Creditors of ecomize GmbH have until Nov. 27 to register their claims with court-appointed insolvency manager Rudolf Rossmann. Creditors and other interested parties are encouraged to attend the meeting at 8:30 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 Augsburg Meeting Hall 162 Alten Einlass 1 86150 Augsburg 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: Rudolf Rossmann Weisskopfstr. 13 c/o Kanzlei Gabrielli Kaufer u. Koll. 86343 Koenigsbrunn Germany The District Court of Augsburg opened bankruptcy proceedings against ecomize GmbH on Oct. 5. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: ecomize GmbH Attn: Konrad Harle and Frank Thesmann, Managers Goegginger Str. 62 86159 Augsburg Germany G.T. TRANSPORTE: Claims Registration Period Ends Nov. 15 -------------------------------------------------------- Creditors of G.T. Transporte GmbH have until Nov. 15 to register their claims with court-appointed insolvency manager Joerg Bornheimer. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on Nov. 30, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Wuppertal Meeting Hall A234 Second Floor Eiland 2 42103 Wuppertal Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Joerg Bornheimer Turmhof 15 42103 Wuppertal Germany Tel: 0202/49 37 00 Fax: 0202/49 37 099 The District Court of Wuppertal opened bankruptcy proceedings against G.T. Transporte GmbH on Oct. 15. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: G.T. Transporte GmbH Schwesterstrasse 60a 42285 Wuppertal Germany Attn: Ferda Tecer, Manager Gathe 3a 42107 Wuppertal Germany GAP INC: Issues Statement on Child Labor Allegations ---------------------------------------------------- Gap Inc. issued a statement clarifying information surrounding a UK media report on the use of child labor in an unauthorized facility that produced a single product for Gap. Earlier this week, the company was informed about an allegation of child labor at a facility in India that was working on one product for GapKids. An investigation was immediately launched. The company noted that a very small portion of a particular order placed with one of its vendors was apparently subcontracted to an unauthorized subcontractor without the company�s knowledge or approval. This is in direct violation of the company�s agreement with the vendor under its Code of Vendor Conduct. Marka Hansen, president of Gap North America, said: "We strictly prohibit the use of child labor. This is a non- negotiable for us -� and we are deeply concerned and upset by this allegation. As we�ve demonstrated in the past, Gap has a history of addressing challenges like this head-on, and our approach to this situation will be no exception. "In 2006, Gap Inc. ceased business with 23 factories due to code violations. We have 90 people located around the world whose job is to ensure compliance with our Code of Vendor Conduct. "As soon as we were alerted to this situation, we stopped the work order and prevented the product from being sold in stores. While violations of our strict prohibition on child labor in factories that produce product for the company are extremely rare, we have called an urgent meeting with our suppliers in the region to reinforce our policies. "Gap Inc. has one of the industry�s most comprehensive programs in place to fight for workers� rights overseas. We will continue to work with the government, NGOs, trade unions, and other stakeholder organizations in an effort to end the use of child labor." Gap Inc. (NYSE: GPS) -- http://www.gapinc.com/-- is an international specialty retailer offering clothing, accessories and personal care products for men, women, children and babies under the Gap, Banana Republic, Old Navy, Forth & Towne and Piperlime brand names. Gap Inc. operates more than 3,100 stores in the United States, the United Kingdom, Canada, France, Ireland and Japan. In addition, Gap Inc. is expanding its international presence with franchise agreements for Gap and Banana Republic in Southeast Asia and the Middle East. * * * The company continues to carry Fitch's BB+ Issuer Default Rating. The company also carries Standard & Poor's Ratings Services' BB+ corporate credit rating. GEMEINNUETZIGE BILDUNGS: Claims Registration Period Ends Nov. 16 ---------------------------------------------------------------- Creditors of Gemeinnuetzige Bildungs- und Entwicklungsgesellschaft GmbH Schliebener Land have until Nov. 16 to register their claims with court-appointed insolvency manager Thomas Krafft. Creditors and other interested parties are encouraged to attend the meeting at 1:00 p.m. on Dec. 10, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Cottbus Hall 210 First Floor Gerichtsplatz 2 03046 Cottbus 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 Krafft Jagerallee 37 H 14469 Potsdam Germany The District Court of Cottbus opened bankruptcy proceedings against Gemeinnuetzige Bildungs- und Entwicklungsgesellschaft GmbH Schliebener Land on Oct. 11. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Gemeinnuetzige Bildungs- und Entwicklungsgesellschaft GmbH Schliebener Land Schulstr. 6 04936 Hohenbucko Germany KABEL DEUTSCHLAND: Gains Access to EUR6050 Million Loan Facility ---------------------------------------------------------------- Kabel Deutschland signed a EUR650 million Senior Term Loan Facility which will rank pari-passu with the Company�s existing EUR1,150 million Senior Term Loan. The Senior Add-on Facility will provide funding for the previously announced acquisition of 1.2 million cable subscribers from the Orion Group for EUR585 million and, together with direct funding from KDG, will fund potential additional acquisitions of up to another 200 million Euros. The Senior Add-on Facility matures in March 2013 and carries a coupon of EURIBOR + 325bps. The Facility will be unfunded for a period of time until the Acquisitions are completed, and any or all of the Facility can be cancelled at any time. During this unfunded period the Facility will pay a ticking fee. The Facility will have the same financial covenants as the existing Senior Term Loan. The Company expects to meet all current covenants under its existing financing obligations. Closing of the Orion Group asset purchase is anticipated for spring 2008 after FCO clearance. About Kabel Deutschland Headquartered in Unterfoehring, Germany, Kabel Deutschland -- http://www.kabeldeutschland.com/-- operates cable networks in 13 German states and supplies its services to more than 9 million connected TV households in Germany. It is Germany's largest cable network operator. KDG offers an open digital TV platform for all program providers. The company operates the networks, markets cable connections and provides comprehensive services for all matters of cable connectivity. In fiscal year ended March 31, 2007, Kabel Deutschland reported a total revenue of around EUR1.1 billion. The company has around 2,700 employees. KABEL DEUTSCHLAND: Financing Doesn't Change Moody's Ba3 Rating -------------------------------------------------------------- Moody's Investors Service said Kabel Deutschland GmbH's Ba3 rating (negative outlook) remained unchanged following the company's announcement of its financing package for the acquisition of 1.2 million subscribers announced in September 2007 (for EUR585 million) as well as an anticipated acquisition of additional 400 thousand subscribers in its area (for EUR174 million). The overall financing package will be comprised of an additional tranche of EUR650 million drawn under the existing senior secured facility and existing liquidity provided by cash and availability under its revolving credit facility. The remaining part of the overall package will be contributed from the recent asset sales. Moody's notes that the anticipated increase in the senior secured debt is likely to have a negative impact on the LGD assessment (currently LGD-5) of the senior notes. Based on a pro-forma contribution of the new subscribes and the company's EBITDA guidance for the fiscal year 2007/08 in the amount of EUR430 million to EUR440 million, Moody's understands that the company would not require a consent from the bondholders to raise additional debt including the portion to be used to purchase additional 400 thousand subscribes. The bond indenture stipulates a debt incurrence test of 5.0x Debt to EBITDA and carve-out baskets, in particular EUR125 million general basket, which KDG will utilize to raise additional debt. Based on a pro-forma EBITDA and additional debt financing, Moody's expects the company to be leveraged at approximately 5.1x Debt to EBITDA (unadjusted for leases). This leverage level is predicated on the company's achievement of its EBITDA guidance as well as realization of the expected EBITDA contribution from the new subscribers. The Ba3 rating is supported by adequate liquidity through the availability of the committed EUR325 million revolving facility (of which EUR125 million is expected to be drawn for the acquisition) and the availability of committed acquisition financing. However, headroom under the company's maintenance covenants will be narrow in the near-term. The rating would come under a downward pressure if the company fails to reach its pro-forma guidance and/or the leverage metrics weaken to the level above 5.5x Debt to EBITDA (as defined by Moody's and excluding any adjustments for equity participation expenses) on a sustained basis. Based in Germany, KDG is the largest network Level 3 cable television provider in Germany. For the three months ended June 30, 2007, the company generated total revenues of EUR290 million. ROOSTER CLOTHING: Claims Registration Period Ends November 23 ------------------------------------------------------------- Creditors of ROOSTER Clothing Company Vertriebs GmbH have until Nov. 23 to register their claims with court-appointed insolvency manager Martin Wagner. 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 Stuttgart Hall 178 Hauffstr. 5 (Am Neckartor) 70190 Stuttgart Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Martin Wagner Heilbronner Str. 86 70191 Stuttgart Germany Tel: 0711/25 97 29-0 Fax: 0711/25 97 29-999 The District Court of Stuttgart opened bankruptcy proceedings against ROOSTER Clothing Company Vertriebs GmbH on Oct. 11. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: ROOSTER Clothing Company Vertriebs GmbH Attn: Hannelore Lehmann-Walz, Manager Eschenbruennle Str. 12-14 71065 Sindelfingen Germany W. STENDEL GMBH: Claims Registration Period Ends November 22 ------------------------------------------------------------ Creditors of W. Stendel GmbH have until Nov. 22 to register their claims with court-appointed insolvency manager Jochen Horch. Creditors and other interested parties are encouraged to attend the meeting at 10:30 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 Heilbronn Hall 4 Ground Floor Rollwagstr. 10a 74072 Heilbronn 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: Jochen Horch Keplerstrasse 7 74072 Heilbronn Germany Tel: 07131/7801-33 Fax: 07131/7801-11 The District Court of Heilbronn opened bankruptcy proceedings against W. Stendel GmbH on Oct. 15. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: W. Stendel GmbH Attn: Wolfram Stendel and Erika Debold, Managers Sulmstrasse 9 74189 Weinsberg Germany ========= I T A L Y ========= ALITALIA SPA: TPG Capital Unable to Form Italian Consortium ----------------------------------------------------------- TPG Capital informed financial advisor Citi that, at the moment, they are unable to finalize an Italian-led consortium, but will continue to follow the evolution of the Alitalia S.p.A. dossier with interest, should an opportunity or new elements arise. The Italian government had been holding talks with TPG Capital over a possible re-bid by the private equity firm for Italy's 49.9% stake in Alitalia. A consortium of TPG Capital, MatlinPatterson Global Advisers LLC and Mediobanca S.p.A. had withdrawn its bid for the national carrier during the previous tender to sell Alitalia, saying it was not "in a position to comply with all of the requirements." The consortium described the requirements as "too complex and cryptic." TPG Capital told the Italian government it may rejoin the bidding process if the rules of the process were changed. 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 opened 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. MICRON TECHNOLOGY: Names Robert L. Bailey as Director ----------------------------------------------------- Micron Technology Inc. has appointed Robert L. Bailey to the company�s board of directors, effective immediately. Mr. Bailey is the chairman and chief executive officer PMC- Sierra, a leading provider of broadband communications and storage semiconductor technologies. Mr. Bailey has served as PMC�s president and chief executive officer since July 1997. He has been chairman of the board since May 2005 and was also chairman from February 2000 until February 2003. Mr. Bailey has been a director of PMC since October 1996. Mr. Bailey has also served as president, chief executive officer and director of PMC-Sierra Ltd., PMC�s Canadian operating subsidiary since December 1993. Mr. Bailey was employed by AT&T-Microelectronics from August 1989 to November 1993, where he served as vice president and general manager, and by Texas Instruments in management from June 1979 to August 1989. "We are extremely pleased to welcome Bob to our Board of Directors," said Micron chairman and CEO Steve Appleton. "Bob brings unique experience and strengths to our board, and we look forward to his contributions." About Micron Technology Headquartered in Boise, Idaho, Micron Technology Inc. (NYSE: MU) -- http://www.micron.com/-- provides advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets DRAMs, NAND Flash memory, CMOS image sensors, other semiconductor components and memory modules for use in leading-edge computing, consumer, networking and mobile products. The company is headquartered in Boise, Idaho, and has manufacturing facilities in Italy, Scotland, Japan, Puerto Rico and Singapore. * * * In September 2006, Moody's placed the clong-term corporate family rating and probability of default rating at Ba3, which still holds to date. The outlook is stable. Standard & Poor's placed the company's long-term foreign and local issuer credits at BB-, which still holds to date. The outlook is stable. =================== K A Z A K H S T A N =================== ASIA-STROYEXPOKAZ LLP: Creditors Must File Claims by Dec. 7 ----------------------------------------------------------- The Specialized Inter-Regional Economic Court of Aktube declared LLP Asia-Stroyexpokaz insolvent on Sept. 28. Creditors have until Dec. 7 to submit written proofs of claim to: The Specialized Inter-Regional Economic Court of Aktube Altynsarin Str. 31 Aktobe Aktube Kazakhstan DBK LEASING: Moody's Assigns Ba3/Not-Prime Currency Ratings ----------------------------------------------------------- Moody's Investors Service assigned Ba3/Not-Prime long- and short-term foreign currency and local currency issuer ratings to DBK Leasing. The outlooks for the ratings are stable. According to Moody's, DBKL's ratings are underpinned by the company's high capital cushion, which is sufficient to absorb credit risks (although this is likely to gradually change), strong liquidity and niche in leasing projects. On the other hand, the ratings reflect: (i) the company's limited franchise, partly due to the short period of its operations and resulting low profitability; (ii) some concerns as to whether the company will be successful in significantly increasing its franchise and funding; (iii) the lack of operating history in the competitive environment; and (iv) the possibility of politically motivated decisions given its ownership structure. The Ba3 issuer rating is a two-notch uplift from the Baseline Credit Assessment of B2, based on Moody's assessment of the very high probability of extraordinary support from the parent. This reflects DBKL's 100% ownership by the Development Bank of Kazakhstan (DBK, with a BCA of 11-13), the potential reputation damage to DBK from a default of DBKL, DBKL's small size -- providing for a greater ability to provide support, as well as DBKL's good fit with DBK's strategy. Nonetheless, the fact that DBKL is a small company with no significant operations to date limits the importance of DBKL to DBK and as a result diminishes support assumptions. DBKL is closely dependant on DBK due to the fact that all funding and capital currently come from the parent. Successful development of the company's franchise with no excessive rise in the risk profile, improvement in funding diversification as well as development of risk management systems would exert upward pressure on the rating. The transfer of DBKL's stake directly to the state (there is a small possibility that in the future the stake of the company might be transferred to the state holding "Sustainable Development Fund "Kazyna") could cause a positive uplift in DBKL's issuer rating. However, this is not expected in the near term. Inability to build a sustainable franchise, assumption of excessive risks, as well as the inability to obtain affordable funding could lower DBKL's rating, as could any sovereign downgrade or signs of diminished willingness on the part of the parent to provide support. Based in Astana, Kazakhstan, DBKL is a 100% leasing subsidiary company of the Development Bank of Kazakhstan and was set up in 2005. It reported total assets of US$60 million and equity US$52 million at the end of 2006. ESTATE CONSULTING: Creditors Must File Claims by Dec. 7 ------------------------------------------------------- LLP Estate Consulting has declared insolvency. Creditors have until Dec. 7 to submit written proofs of claim to: LLP Estate Consulting Azattyk ave. 62/70 Atyrau Kazakhstan Tel: 8 (31222) 58-68-54 8 701 321 50-56 GOLDEN PERL: Claims Filing Period Ends Dec. 7 --------------------------------------------- LLP Golden Perl Technics has declared insolvency. Creditors have until Dec. 7 to submit written proofs of claim to: LLP Golden Perl Technics Jybek Joly Str. 30 Jarkent Panfilovsky District Almaty Kazakhstan Tel: 8 (3272) 63-55-13 KAZUVELIRPROM JSC: Claims Filing Period Ends Dec. 11 ---------------------------------------------------- The Specialized Inter-Regional Economic Court of Karaganda declared JSC Kazuvelirprom insolvent on Aug. 16. Creditors have until Dec. 11 to submit written proofs of claim to: The Specialized Inter-Regional Economic Court of Karaganda Olimpyiskaya Str. 8a Karaganda Kazakhstan Tel: 8 701 533 50-63 NEFTEHIMSERVICE LTD: Creditors' Claims Due by Dec. 7 ---------------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty declared LLP Neftehimservice Ltd insolvent on Sept. 7. Creditors have until Dec. 7 to submit written proofs of claim to: The Specialized Inter-Regional Economic Court of Almaty Shelehov Str. 187a-32 Almaty Kazakhstan Tel: 8 (3272) 32-83-39 8 701 460 17-71 NOVA LLP: Creditors Must File Claims by Dec. 7 ---------------------------------------------- The Specialized Inter-Regional Economic Court of Aktube declared LLP Nova insolvent on Sept. 24. Creditors have until Dec. 7 to submit written proofs of claim to: The Specialized Inter-Regional Economic Court of Aktube Altynsarin Str. 31 Aktobe Aktube Kazakhstan PROTECHNICS COMPANY: Claims Registration Period Ends Dec. 7 ----------------------------------------------------------- LLP Protechnics Company has declared insolvency. Creditors have until Dec. 7 to submit written proofs of claim to: LLP Protechnics Company Gagarin Str. 69 Talgar Talgarsky District Almaty Kazakhstan Tel: 8 (3272) 63-55-13 REMPUT JSC: Creditors Must File Claims by Dec. 7 ------------------------------------------------ JSC Remput has declared insolvency. Creditors have until Dec. 7 to submit written proofs of claim to: JSC Remput Auezov Str. 91/1 Saryarka District 010000, Astana, Kazakhstan =================== K Y R G Y Z S T A N =================== NEZAVISIMAYA ENERGETICHESKAYA: Claims Registration Ends Dec. 1 -------------------------------------------------------------- LLC Alamedinskaya Independent Power Company Nezavisimaya Energeticheskaya Companiya has declared insolvency. Creditors have until Dec. 1 to submit written proofs of claim to: LLC Nezavisimaya Energeticheskaya Companiya Chuguyev Str. 67 Alamudun Alamudunsky District Chui Region Kyrgyzstan TRANS-SERVICE ASIA: Creditors Must File Claims by Dec. 1 -------------------------------------------------------- LLC Trans-Service-Asia-Ural-Demidov has declared insolvency. Creditors have until Dec. 1 to submit written proofs of claim. Inquiries can be addressed to(0-503) 37-08-02. ===================== N E T H E R L A N D S ===================== GLOBAL POWER: Sells Boring Mill to Prestige for US$575,000 ---------------------------------------------------------- The United States Bankruptcy Court for the District of Delaware authorized Global Power Equipment Group Inc. and its debtor- affiliates to sell a boring mill to Prestige Equipment Corporation for US$575,000, under an asset purchase agreement dated Oct. 16, 2007. Under the agreement, the Debtors will sell the boring mill owned by Braden Manufacturing LLC, its auxiliary power equipment segment in Tulsa, Oklahoma. The Debtors will also provide an insurance policy of at least US$700,000 to Prestige Equipment for any damage to the Debtors' property during the removal of the equipment. In addition, Prestige Equipment will pay all existing brokerage claims to Tom Lowkes of Fabricating & Production Machinery in Spencer, Massachusetts. At the closing date, Prestige Equipment will immediately pay the Debtors the entire purchase price by wire transfer. 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. MORGAN STANLEY: Moody's Rates EUR16.75 Mln Class E Notes at Ba3 --------------------------------------------------------------- Moody's Investors Service assigned long term credit ratings to five classes of notes issued by Morgan Stanley Investment Management Mezzano B.V., a Dutch special purpose company. The ratings are: -- Aaa to the EUR254,500,000 Class A Senior Floating Rate Notes due 2024; -- Aa2 to the EUR10,500,000 Class B Deferrable Interest Floating Rate Notes due 2024; -- A2 to the EUR19,250,000 Class C Deferrable Interest Floating Rate Notes due 2024; -- Baa3 to the EUR10,000,000 Class D Deferrable Interest Floating Rate Notes due 2024; and -- Ba3 to the EUR16,750,000 Class E Deferrable Interest Floating Rate Notes due 2024. The ratings of the senior notes and the deferrable notes address the expected loss posed to investors by the legal maturity of each class (in 2024). These ratings are based upon: 1. an assessment of the eligibility criteria , collateral quality tests and portfolio profile tests applicable to the portfolio ; 2. the protection against losses through the subordination of the more junior classes of notes to the more senior classes of notes; 3. the overcollateralization of the Notes; 4. the proposed currency swap transactions, which insulate the Issuer from the volatility of the foreign currency exchange rates in respect of non-Euro denominated obligations; 5. the expertise of Morgan Stanley Investment Management Limited as collateral manager; and 6. the legal and structural integrity of the issue. This transaction is a high yield collateralized loan obligation backed by a collateral portfolio of around EUR350 million, comprised primarily of European senior secured, second lien and mezzanine loans and high yield bonds. The portfolio will be actively managed by Morgan Stanley Investment Management Limited, and will be approximately 80% ramped at closing with the remaining assets expected to be purchased during the twelve months ramp up period. The manager must maintain compliance with a range of portfolio tests which include, amongst others, a diversity score test, a weighted average rating factor test, a weighted average recovery rate test and a weighted average spread test. Thereafter, the portfolio of loans will be actively managed and the portfolio manager will have the option to buy or sell assets in the portfolio. Any addition or removal of assets will be subject to a number of portfolio criteria. =========== R U S S I A =========== BALIZ CJSC: Court Starts Bankruptcy Supervision Procedure --------------------------------------------------------- The Arbitration Court of Saratov commenced bankruptcy supervision procedure on CJSC Baliz, which procedure will continue until April 3, 2008. The case is docketed under Case No. ?-57-6504/07-32. The interim manager is: V. V. Budnevskij Kuybysheva Str. 20 440052 Penza Russia The Court is located at: The Arbitration Court of Saratov Babushkin Vvoz 1 Saratov Russia The Debtor can be reached at: CJSC Baliz Lenina Str. 1 Baltai Township Baltaiskij Raio Saratov Russia BUGUL'MINSKIJ DOK: Bidders Have Until Nov. 20 to Submit Offers -------------------------------------------------------------- N. F. Valitov, the competitive proceedings manager of OJSC Bugul'minskij DOK, will open a public auction for the company's properties. The company has set a RUR3 million starting price for the auctioned assets. Deposit required is 20% of the starting price. Interested participants have until Nov. 20 to submit their bidding documents to: N. F. Valitov P.O. Box 112 Kazan 420036 Tatarstan Russia Tel: (843) 5100616 Fax: 8 9172959276 BUJNAKSKAYA: Creditors Must File Claims by Dec. 27 -------------------------------------------------- Creditors of Foot-Ware Factory Bujnakskaya have until Dec. 27 to submit proofs of claim to: M. M. Baimurzaev Dahadaeva Str. 18 Bujnaksk Dagestan Russia The Arbitration court of Dagestan commenced competitive proceedings against the company after finding it insolvent on Oct. 2, 2007. The case is docketed under Case No. ?15-950/2007. DISTILLERY NOVOSLOBODSKIJ: Asset Sale Slated for November 27 ------------------------------------------------------------ Yu. V. Shishkov, the competitive proceedings manager of OJSC Distillery Novoslobodskij, will open a public auction for the company's properties at 10:30 a.m. on Nov. 27. The starting price for the auctioned assets is RUR3,010,000. Deposit required is 10% of the starting price. Interested participants have until Nov. 21 to submit their bidding documents. Information related to the auction can be obtained from: Yu. V. Shishkov Betankura Str. 3 Nizhnij Novgorod Russia Tel: (831) 275-76-07 KUZBASSENERGOSTROY LLC: Creditors Must File Claims by Dec. 27 ------------------------------------------------------------- Creditors of KuzbassEnergoStroy LLC have until Dec. 27 to submit proofs of claim to: M. N. Bogatova ?/? 3084 650024 ?. ???????? Russia The Arbitration Court of Kemerovo commenced competitive proceedings on the company on Oct. 11, 2007. The case is docketed under Case No. ?27-3645/2007-4. The Court is located at: The Arbitration Court of Kemerovo Krasnaya Str. 8 Kemerovo Russia The Debtor can be reached at: KuzbassEnergoStroy LLC Torezy Str. 73? Novokuznetsk Russia POLOVINSKIE ME: Creditors Must File Claims by Dec. 27 ----------------------------------------------------- Creditors of Heating Network Polovinskie ME have until Dec. 27 to submit proofs of claim. The Arbitration Court of Kurgan declared the company insolvent on Sept. 28, 2007. The Court appointed A. A. Skvortsov as competitive proceedings manager. The case is docketed under Case No. ?34-849/2007. The Court is located at: The Arbitration Court of Kurgan Sovetskaya Str. 192 640003 Kurgan Russia The Debtor can be reached at: Heating Network Polovinskie ME Stepnaya Str. 33 Polovinnoye Township Polovinskij Raion 641780 Kurgan Russia PROMNERUD OJSC: Asset Sale Slated for November 30 ------------------------------------------------- The competitive proceedings manager of OJSC Promnerud will open a public auction for the company's properties at 10:00 a.m. on Nov. 30 at: OJSC Promnerud Askerhanova Str. 3 Mahachkala Dagestan Russia The starting prices for the auctioned assets are: -- Lot 1: RUR8,518; -- Lot 2: RUR1,822. Interested participants have until Nov. 25 to submit their bidding documents and to deposit an amount equivalent to 10% of the starting price. Information related to the auction may be obtained at: Gagarina Str. 56/88 Mahachkala Dagestan Russia Tel: 8 928-548-50-14 ROSNEFT OIL: Competition Regulator Okays Tomskneft Stake Sale ------------------------------------------------------------- The Russian Federal Anti-monopoly Service has permitted Vnesheconombank to acquire OAO Rosneft Oil Co.'s 50% stake in oil company Tomskneft, the FAS told Interfax. As reported in the Troubled Company Reporter-Europe on Oct. 25, 2007, Rosneft said it plans to complete the sale of a 50% stake in Tomskneft, a former subsidiary of OAO Yukos Oil Co., by the end of 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 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 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. * * * 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. SIBIRSKOYE OJSC: Asset Sale Slated for November 30 -------------------------------------------------- OJSC Sibirskoye will open a public auction for the company's properties at 11:00 a.m. on Nov. 30 at: &nbs