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, January 31, 2008, Vol. 9, No. 22 Headlines A U S T R I A ING. GRILLNBERGER: St. Poelten Court Orders Business Shutdown KKB KURT: Linz Court Orders Business Shutdown KNEISZ LLC: Claims Registration Period Ends February 4 KOEGL ROH: Claims Registration Period Ends February 4 LITHOMONTAGE SCHOR: Claims Registration Period Ends February 5 RW FENSTERMONTAGEN: Linz Court Orders Business Shutdown SPORTBAU LLC: Steyr Court Orders Business Shutdown STURMLEHNER UND CO: Creditors' Meeting Slated for February 19 XERIUM TECH: Opens Paper Machine Clothing Factory in Vietnam B E L G I U M CHEMTURA CORP: Selling Oleochemicals Business to PMC Group CHIQUITA BRANDS: Reports Prelim Full Year & Fourth Qtr. Results CHIQUITA BRANDS: Soliciting Consents to Amend Indenture Terms CHIQUITA BRANDS: Reviews Capital Structure, Eyes Refinancing CHIQUITA BRANDS: Moody's Holds B3 Corporate Family Rating CHIQUITA BRANDS: S&P's Ratings Held by Capital Structure Review F R A N C E BALLY TECHNOLOGIES: Seminole Tribe to Get 2,000 Gaming Machines DELPHI CORP: Court Allows Committee Participation in Exit Loan DELPHI CORP: Court Grants Final Approval of MDL Settlements G E R M A N Y AUTOHAUS CORSO: Claims Registration Period Ends February 20 BAUSTOFF HANDELS: Claims Registration Period Ends February 20 BD DIENSTLEISTUNGS: Claims Registration Period Ends February 26 C&M SERVICE: Claims Registration Period Ends February 20 CHEF DELICE: Claims Registration Period Ends February 20 EIKA WACHSWERKE: Files for Insolvency at Fulda Court ERICH ROHDE: Negotiations with Square Four in Advanced Stage FIT-GETRANKE VERTRIEBS: Claims Registration Ends February 20 GABS DIENSTLEISTUNG: Claims Registration Ends February 20 GABS EUROTEACH: Claims Registration Ends February 20 GABS GESELLSCHAFT: Claims Registration Ends February 20 GABS KAUE: Claims Registration Ends February 20 GW GARTENBAU: Claims Registration Period Ends February 19 HIRSCH AG: Duesseldorf Court Commences Insolvency Proceedings IDEA-DEIN HAUS: Claims Registration Period Ends February 19 ITRA INTERNATIONALE: Claims Period Ends February 19 KAY-EL GERMANY: Claims Registration Period Ends February 19 MAY MEDICAL: Claims Registration Period Ends February 21 NSL GMBH: Claims Registration Period Ends February 22 PIN GROUP: Creditor Claim Forces Parent to File for Insolvency REINHARD FENGE: Claims Registration Period Ends February 19 SIAN VERWALTUNGS: Claims Registration Period Ends March 11 STEFAN NIENABER: Claims Registration Period Ends February 19 WARME-CONZEPT: Claims Registration Period Ends February 19 H U N G A R Y PROPEX INC: Section 341(a) Creditors Meeting Slated for March 4 PROPEX INC: U.S. Trustee Appoints Five-Member Creditors' Panel K A Z A K H S T A N ALTERNATIVA 2007: Proof of Claim Deadline Slated for March 4 EXPRESS UNITS: Creditors Must File Claims by March 4 KAINAR KUS: Claims Filing Period Ends March 4 MIRNY OJSC: Creditors' Claims Due on February 28 OIL STROY: Claims Registration Ends March 4 PRINT SERVICE: Proof of Claim Deadline Slated for March 4 SENEKA PLUS: Creditors Must File Claims by February 28 SHYGYS TRANS: Claims Filing Period Ends March 4 K Y R G Y Z S T A N CHUISKOYE PREDPRIYATIE: Creditors Must File Claims by Feb. 15 L U X E M B O U R G HUNTSMAN CORP: Agrees to Extend Review Period for Hexion Merger HUNTSMAN CORP: Hexion to Exercise Rights on Merger Extension PIN GROUP: Creditor Claim Forces Parent to File for Insolvency N E T H E R L A N D S BLACKBOARD INC: Earns US$3.3 Million in 2007 Third Quarter FLOWSERVE CORP: Bags Major Pump Deal from China Nuclear Power HEXION SPECIALTY: Okays Extension of Review Period for Merger HEXION SPECIALTY: To Exercise Rights Over Merger Deal Extension P O L A N D AFFILIATED COMPUTER: Renews IT Contract with Northamption County AFFILIATED COMPUTER: Moody's Keeps Ba2 Rating After Review NETIA SA: China Development Okays Service Agreement with P4 R U S S I A HYNIX SEMICONDUCTOR: May Issue KRW150 Bil. Convertible Bonds VTB 24: Fitch Puts Individual Rating at D S W E D E N FLEXTRONICS INTERNATIONAL: Completes Avail Medical Acquisition S W I T Z E R L A N D BLICKLE + PARTNER: Creditors' Liquidation Claims Due by Feb. 7 CREDIT INVEST: Creditors' Liquidation Claims Due by Feb. 7 ELINAG ENGINEERING: Creditors' Liquidation Claims Due by Feb. 8 GLACIER JSC: Creditors' Liquidation Claims Due by Feb. 7 GRIESSER-INSTALLATIONEN: Creditors Must File Claims by Feb. 8 MICHAEL UND: Creditors' Liquidation Claims Due by Feb. 7 POWER PRODUCTIONS: Creditors' Liquidation Claims Due by Feb. 7 SWISSADVISORS JSC: Zug Court Starts Bankruptcy Proceedings SWISS ROOF: Creditors' Liquidation Claims Due by Feb. 8 W HUBER + PARTNER: Zug Court Starts Bankruptcy Proceedings U K R A I N E CAPITAL LLC: Creditors of Must File Claims by February 8 DSU 634: Creditors of Must File Claims by February 8 GRANTEX XXI: Creditors of Must File Claims by February 8 LLC-FINANCE: Creditors of Must File Claims by February 8 NIVA LLC: Creditors of Must File Claims by February 8 PETROLEUM-SERVICE SKP: Claims Filing Deadline Set February 8 REPAIR-BUILDING SPECIALIZED 66: Proofs of Claim Due February 8 TECHNICS LLC: Creditors of Must File Claims by February 8 TECHNOTEL LLC: Creditors of Must File Claims by February 8 ULIYANOVKA LLC: Claims Filing Deadline Set February 8 U N I T E D K I N G D O M AEROSPACE & TECHNICAL: Taps Liquidators from Menzies ARVINMERITOR INC: To Supply Hyundai Unit w/ Plastic Door Modules ARVINMERITOR INC: Board Declares US$0.10 Quarterly Dividend ARVINMERITOR INC: Names Barbara Novak VP & Corporate Secretary BAA LTD: British Airways Wants CAA to Stop Improvement Delays BALL CORP: Reports US$281.3 Million 2007 Full Year Earnings BERRY PLASTICS: S&P Holds Low-B Ratings on Captive Plastics Buy BRITISH AIRWAYS: Calls for Improved Service Quality Regulations CLEAR CHANNEL: S&P Retains Negative CreditWatch on B+ Rating CLOCKWORK CONTROL: Calls In Liquidators from Tenon Recovery CRN LOGISTICS: Brings In Liquidators from Tenon Recovery DANOR ELECTRONICS: Appoints Liquidators from Mazars DURA AUTOMOTIVE: Asks Court Consent for US$170M Replacement Loan FORD MOTOR: At Ease with Tata Motors' Jaguar Brand Acquisition INTELSAT LTD: Moody's Cuts Rating to Caa1 on Increased Leverage INTERMEC INC: Names Raymond Cronin as RFID VP & General Manager ISLE OF CAPRI: Acquires Nevada Gold's 43% Black Hawk Stake LEVENDIS COMPANY: Claims Filing Period Ends March 18 MC ELECTRICAL: Joint Liquidators Take Over Operations NEMUS FUNDING: Moody's Rates GBP17.33 Mln Class E Notes at Ba3 SPORTS CAFE: Agilo Buys Five Branches for Undisclosed Sum TELTRONICS INC: Partners with Access & Collier Business Systems TEREX CORP: Minnesota Unit Begins Tender Offer to Buy ASV Shares * Upcoming Meetings, Conferences and Seminars ********* ============= A U S T R I A ============= ING. GRILLNBERGER: St. Poelten Court Orders Business Shutdown ------------------------------------------------------------- The Land Court of St. Poelten entered Dec. 21, 2007 an order shutting down the business of LLC Ing. Grillnberger (FN 87465a). Court-appointed estate administrator Franz Hofbauer 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. Franz Hofbauer c/o Mag. Rudolf Nokaj Hauptplatz 6 3370 Ybbs/Donau Austria Tel: 07412/52731 Fax: 07412/52731-22 E-mail: dr.hofbauer@wibs.at Headquartered in Purgstall an der Erlauf, Austria, the Debtor declared bankruptcy on Dec. 20, 2007 (Bankr. Case No 14 S 206/07w). Rudolf Nokaj represents Dr. Hofbauer in the bankruptcy proceedings. KKB KURT: Linz Court Orders Business Shutdown --------------------------------------------- The Land Court of Linz entered Dec. 21, 2007 an order shutting down the business of LLC KKB Kurt Berger (FN 269919s). Court-appointed estate administrator Wolfgang Kempf 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. Wolfgang Kempf Buergerstrasse 41 4020 Linz Austria Tel: 0732/777207 Fax: 0732/782570 E-mail: ra.kempf.linz@utanet.at Headquartered in Leonding, Austria, the Debtor declared bankruptcy on Dec. 19, 2007 (Bankr. Case No 38 S 66/07w). KNEISZ LLC: Claims Registration Period Ends February 4 ------------------------------------------------------ Creditors owed money by LLC Kneisz (FN 226001f) have until Feb. 4, 2008 to file written proofs of claim to court-appointed estate administrator Josef Ebner at: Dr. Josef Ebner Mahlerstrasse 7 1010 Vienna Austria Tel: 512 29 94 Fax: 512 29 04 E-mail: ra.ebner@aon.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:15 a.m. on Feb. 18, 2008 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 Dec. 21, 2007 (Bankr. Case No. 3 S 161/07g). KOEGL ROH: Claims Registration Period Ends February 4 ----------------------------------------------------- Creditors owed money by LLC Koegl Roh- und Innenausbau (fka LLC Koegl Gastronomie) (FN 244650f) have until Feb. 4, 2008 to file written proofs of claim to court-appointed estate administrator Birgit Linder at: Mag. Birgit Linder c/o Dr. Edmund Roehlich Am Heumarkt 9/I/11 1030 Vienna Austria Tel: 713 46 51 Fax: 713 84 35 E-mail: proksch@eurojuris.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:30 a.m. on Feb. 18, 2008 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 Dec. 21, 2007 (Bankr. Case No. 3 S 163/07a). Edmund Roehlich represents Mag. Linder in the bankruptcy proceedings. LITHOMONTAGE SCHOR: Claims Registration Period Ends February 5 -------------------------------------------------------------- Creditors owed money by LLC Lithomontage Schor (FN 67246t) have until Feb. 5, 2008 to file written proofs of claim to court- appointed estate administrator Erwin Senoner at: Dr. Erwin Senoner c/o Dr. Georg Freimueller Alser Strasse 21 1080 Vienna Austria Tel: 406 05 51 Fax: 406 96 01 E-mail: kanzlei@jus.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 11:00 a.m. on Feb. 19, 2008 for the examination of claims. The meeting of creditors will be held at: The Trade Court of Vienna Room 1609 Vienna Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Dec. 21, 2007 (Bankr. Case No. 38 S 72/07a). Georg Freimueller represents Dr. Senoner in the bankruptcy proceedings. RW FENSTERMONTAGEN: Linz Court Orders Business Shutdown ------------------------------------------------------- The Land Court of Linz entered Dec. 27, 2007 an order shutting down the business of LLC RW Fenstermontagen (FN 170987b). Court-appointed estate administrator Markus Weixlbaumer recommended the business shutdown after determining that the continuing operations would reduce the value of the estate. The estate administrator can be reached at: Mag. Markus Weixlbaumer Hofgasse 7 4020 Linz Austria Tel: 0732/776234 Fax: 0732/77623422 E-mail: hackl.hatak@aon.at Headquartered in Linz, Austria, the Debtor declared bankruptcy on Dec. 6, 2007 (Bankr. Case No 12 S 92/07b). SPORTBAU LLC: Steyr Court Orders Business Shutdown -------------------------------------------------- The Land Court of Steyr entered Dec. 27, 2007 an order shutting down the business of LLC Sportbau (FN 233569i). Court-appointed estate administrator Wolfgang Strasser 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. Wolfgang Strasser c/o Dr. Christian Strasser Hauptplatz 11 4300 St. Valentin Austria Tel: 07435/52 4 37 E-mail: st-valentin@advocat24.at Headquartered in Enns, Austria, the Debtor declared bankruptcy on Dec. 13, 2007 (Bankr. Case No 14 S 47/07w). Christian Strasser represents Dr. Strasser in the bankruptcy proceedings. STURMLEHNER UND CO: Creditors' Meeting Slated for February 19 ------------------------------------------------------------- Creditors owed money by KEG Sturmlehner und Co (FN 271897z) are encouraged to attend the creditors' meeting at 11:50 a.m. on Feb. 19, 2008. The creditors' meeting will be held at: The Land Court of St. Poelten Room 216 Second Floor St. Poelten Austria Headquartered in Kaumberg, Austria, the Debtor declared bankruptcy on Dec. 27, 2007 (14 S 208/07i). Stephan Riel serves as the court-appointed estate administrator of the bankrupt's estate. The estate administrator can be reached at: Dr. Stephan Riel Schiessstattring 35/13 3100 St. Poelten Austria Tel: 02742/74731 Fax: 02742/74731/22 E-mail: kanzlei@jsr.at XERIUM TECH: Opens Paper Machine Clothing Factory in Vietnam ------------------------------------------------------------ Xerium Technologies, Inc. reported its official groundbreaking ceremony for its state-of-the-art paper machine clothing factory in Ho Chi Minh City, Vietnam. At the event, which was attended by more than 100 dignitaries from throughout the region, Cheryl Diuguid, President of Xerium Asia, said, "With this new facility, Xerium is building on a long, successful history of conducting business in the Asia region. Our investment in this facility, and specifically in Vietnam, is an important step in our efforts to build on this history and increase our participation in this important and growing paper market. Xerium has been a leading participant and valued paper machine clothing supplier to Asian paper producers for decades. In addition to this Huyck. Wangner facility we are building, we have also expanded our roll covers business to pursue additional growth opportunities in this segment of the Asia market. In November 2007, Xerium acquired a local roll covers business with two manufacturing operations in China, and we expect that the acquired operation will serve as the base for our Stowe Woodward China business." She added, "We made the decision to invest in Vietnam because we believe this country provides us with excellent support for all our critical success factors, including proximity to our major customers, ease of logistics, technical capabilities, education level of the local workforce, variable and manufacturing overhead costs, government support and interest, local market opportunities and expansion options. To put it simply, we wanted an "Ease of Business" environment and we are confident that we have found it here." The facility is being constructed in the My Phouc Industrial Park, 40 km northeast of Ho Chi Minh City in the region of Binh Duong. This facility, which is expected to begin production in the second half of 2008, is expected to employ more than 150 people at full production. Headquartered in Wesborough, Massachusetts, Xerium Technologies, Inc. -- http://xerium.com/-- manufactures and supplies two types of products used primarily in the production of paper: clothing and roll covers. The company operates under a variety of brand names and owns a broad portfolio of patented and proprietary technologies to provide customers with tailored solutions and products, designed to optimize performance and reduce operational costs. With 35 manufacturing facilities in 15 countries, including Austria, Brazil and Japan, Xerium Technologies has approximately 3,900 employees. * * * Moody's Investors Service changed the outlook on Xerium Technologies, Inc.'s ratings to negative from stable, and affirmed the company's corporate family rating at B1. The change in outlook to negative reflects Xerium's weaker than expected operating performance primarily due to production inefficiencies in North America and delays in achieving benefits from cost reduction initiatives. Moody's believes the impact of these issues, coupled with a difficult pricing environment for roll covers and to a lesser extent clothing products, will continue to negatively affect operating performance over the intermediate term. Affirmed ratings include the company's: Corporate family rating at B1; Guaranteed senior secured term loan B at B1; and Guaranteed senior secured revolving credit facility at B1. ============= B E L G I U M ============= CHEMTURA CORP: Selling Oleochemicals Business to PMC Group ---------------------------------------------------------- Chemtura Corporation has reached agreement to sell its oleochemicals business to PMC Group NA Inc. for an undisclosed amount, subject to financing and other conditions including customary closing conditions. Included in the transaction is Chemtura's production facility at Memphis, Tennessee. Proceeds from the sale will be used primarily for debt reduction. The transaction is expected to close by the end of the first quarter. The oleochemicals business had revenues for 2007 of approximately US$175 million. "This transaction will be another step in improving our polymer additives business by strategically divesting product lines to better focus on the products and businesses where we have our greatest strengths and leading market positions," Robert L. Wood, Chemtura chairman and CEO, said. "PMC Group NA Inc. is committed to this business and its growth, which will be an advantage to both customers and employees." Chemtura's Memphis facility has about 260 employees, who are expected to transfer to PMC Group NA Inc. The facility produces fatty acids, fatty esters, glycerin approved for pharmaceutical applications, glycerol esters, amides, bisamides, stearates and triglycerides. The Memphis plant is the only producer of primary amides in North America for the plastics additives market. About Chemtura Corporation Headquartered in Middlebury, Connecticut, Chemtura Corp. (NYSE:CEM) -- http://www.chemtura.com/-- is a manufacturer and marketer of specialty chemicals, crop protection, and pool, spa and home care products. The company has approximately 6,400 employees around the world and sells its products in more than 100 countries. The company has facilities in Singapore, Australia, China, Hong Kong, India, Japan, South Korea, Taiwan, Thailand, Brazil, Belgium, France, Germany, Mexico, and The United Kingdom. * * * As reported in the Troubled Company Reporter-Europe on Dec. 21, 2007, Moody's Investors Service placed Chemtura Corporation's corporate family rating, CFR of Ba2 under review for possible downgrade after reports that its "board of directors has authorized management to consider a wide range of strategic alternatives available to the company to enhance shareholder value." Standard & Poor's Ratings Services placed its 'BB+' corporate credit and senior unsecured debt ratings of Chemtura Corp. on CreditWatch with developing implications, after reports that management is considering strategic alternatives, including sale or merger of the company. CHIQUITA BRANDS: Reports Prelim Full Year & Fourth Qtr. Results --------------------------------------------------------------- Chiquita Brands International Inc. reported preliminary unaudited selected results for the fourth quarter and full-year 2007 and announced the details of a proposed refinancing. Fourth quarter net sales increased approximately 6% year-over- year to US$1.2 billion, and the company expects adjusted operating income in the range of US$6-16 million and adjusted EBITDA in the range of US$28-38 million. For the full year, net sales increased approximately 4 percent year-over-year to US$4.7 billion, and the company expects adjusted operating income in the range of US$62-72 million and adjusted EBITDA in the range of US$152-162 million. A reconciliation of (i) adjusted EBITDA and (ii) adjusted operating income amounts presented above to estimated operating income is included in a Non-GAAP Financial Measures. The company reported liquidity that included cash in excess of US$70 million, compared to US$65 million at year-end 2006, as well as US$169 million of availability under its current revolving credit facility. The company remained in compliance with its covenants under its existing debt facilities at Dec. 31, 2007, and expects to remain in compliance with them. "Our estimated fourth quarter results reflect improved year- over-year operating performance in the fourth quarter, despite a rising cost environment," said Fernando Aguirre, chairman and chief executive officer. "In addition, our business restructuring announced in October remains on track to deliver our targeted savings in 2008." Mr. Aguirre added, "We will remain focused on three priorities in 2008 to drive progress on our strategy to achieve sustainable, profitable growth. First, we will complete the restructuring we began implementing in October to improve profitability by consolidating our operations and simplifying our overhead structure. Second, we will seek to improve execution and market performance in our core businesses, while managing through a difficult cost environment. Third, we will continue to invest in long-term growth opportunities by expanding the introduction of innovative, higher-margin products that can help diversify our business by product, channel and geography." As announced in October, the company is exploring strategic alternatives for its German distribution business, Atlanta AG, including a possible sale, and does not expect to announce developments with respect to this process unless and until its board of directors has reached a decision. There can be no assurance regarding the timing or ultimate outcome of this process. 2008 Outlook While the company does not provide specific guidance for net sales and net income, the company does expect improved year-on- year performance in sales and operating income in 2008, primarily due to contract and market price increases, including fuel-related surcharges, and the benefits of the business restructuring, which remains on track to deliver US$60-80 million in year-on- year cost savings in 2008. The company does expect significant year-on-year increases in industry and other costs, which may exceed US$120 million in 2008, before fuel hedging gains. This amount includes fuel cost impacts on ocean shipping of approximately US$35 million based on current market forward rates, increases in the cost of purchased raw product (primarily bananas) of US$40-50 million, as well as increases in materials, banana production, discharge and other logistics costs. The following chart summarizes management's estimates of the impact of certain other items on the company's results for 2008: (US$ millions) Full-Year 2008 Estimate (1) Capital Expenditures US$60-75 Depreciation & Amortization US$70-80 Euro Hedging Costs (2) US$13 Fuel Hedging Gains (3) US$18 (1) The foregoing estimates constitute forward-looking statements and are subject to risks and uncertainties. (2) Euro hedging costs were US$19 million in 2007. The 2008 euro hedging cost estimates are based on current market forward rates in relation to the company's 2008 hedging portfolio, which includes euro put options at average strike rates of US$1.40 per euro covering approximately 70 percent of the company's estimated net euro cash flow exposure. (3) The company realized a fuel hedging gain of US$12 million in 2007. The 2008 fuel hedging gain estimates are based on current market forward rates as of Jan. 24, 2008. Approximately 65 percent of the company's expected core fuel needs in ocean shipping through January 2010 are hedged with bunker fuel swaps. Proposed Refinancing The company also announced that it is reviewing its capital structure. It is considering options including a potential amendment or refinancing of its senior secured credit facility and a convertible note offering, which is intended to lower the company's interest expense, extend maturities and provide additional covenant flexibility. The company's total debt at year-end 2007 was US$814 million, compared to US$1.029 billion a year ago, with minimal mandatory principal repayment obligations during the next three years. The company remained in compliance with its covenants under its existing debt facilities at Dec. 31, 2007, and expects to remain in compliance. The current secured credit facility includes a Term Loan C, which had a balance outstanding of US$326 million at Dec. 31, 2007, and a US$200 million revolving credit facility used for seasonal working capital needs. As of Dec. 31, 2007, the revolving credit facility was undrawn and had availability of US$169 million after outstanding letters of credit. As part of its proposed refinancing, the parent company, Chiquita Brands International, Inc., may consider issuing convertible senior unsecured notes, the proceeds of which would be used to partially prepay the existing Term Loan C. In connection with the proposed refinancing, the company announced that it is seeking consent from holders of its 7 1/2 percent senior notes due in 2014, in order to amend the terms of the indenture under which the notes were issued. Consummation of the refinancing is subject to a number of market and other conditions. No assurance can be given that any such amendment or refinancing of the company's capital structure can or will be completed on terms that are acceptable to the company, if at all. Recent Price & Volume Data The company reported increases in banana prices in all markets for the fourth quarter 2007, compared to the same period a year go. In its Fresh Express value-added salads business, the company reported significant year-on- year volume growth in the fourth quarter 2007, while net revenue per case rose slightly. North American banana pricing increased 7 percent year-on-year in the fourth quarter, reflecting increases in base contract prices and higher year-on-year surcharges linked to a third- party fuel price index, and volume rose 1 percent. Banana prices in the company's core European markets increased 5 percent year-on-year on a local currency basis (up 18 percent on a U.S. dollar basis), reflecting favorable comparisons to the year-ago quarter when the market had excess supply. The company's volume sold in the core European markets was down 7 percent year-over-year, due to constrained volume availability and the company's strategy to maintain and favor its premium quality product and price differentiation over market share. In Asia Pacific and the Middle East, pricing rose 6 percent year-on-year on a U.S. dollar basis, while volume fell by 9 percent year-over-year primarily as a result of continuing supply constraints in the Philippines, which resulted in lower yields of premium-quality fruit. In the company's trading markets, which consist primarily of European and Mediterranean countries that do not belong to the European Union, pricing rose 14 percent year-over-year, while the company's volume in this region declined 55 percent, compared to the year-ago quarter when the market was oversupplied. Price and volume trends in the company's core markets in Europe and North America were broadly similar thus far for the month of January 2008, compared to trends in the fourth quarter of 2007. In the Salads and Healthy Snacks segment, the company's volume of retail value-added salads increased 10 percent year-over-year in the fourth quarter, reflecting strong recovery in the value- added salads category in the first full quarter following the one-year anniversary of the E. coli outbreak, which affected the industry beginning in September 2006. The category recovery is expected to continue at a more moderate pace in future quarters, as more time passes from the anniversary of this event. During the fourth quarter of 2007, the company also maintained relatively stable net revenue per case, up 1 percent year-over- year. Cincinnati, Ohio-based Chiquita Brands International Inc. (NYSE: CQB) -- http://www.chiquita.com/-- markets and distributes fresh food products including bananas and nutritious blends of green salads. The company markets its products under the Chiquita(R) and Fresh Express(R) premium brands and other related trademarks. Chiquita employs approximately 25,000 people operating in more than 70 countries worldwide, including Belgium, Colombia, Germany, Panama, Philippines, among others. CHIQUITA BRANDS: Soliciting Consents to Amend Indenture Terms ------------------------------------------------------------- Chiquita Brands International Inc. disclosed solicitation of consents to amend the terms of the indenture for its 7-1/2% senior notes due 2014, in connection with a proposed refinancing of its senior credit facility that is intended to lower its interest expense, extend maturities and provide additional covenant flexibility. The purpose of the consent solicitation is to amend provisions in the indenture governing the Notes regarding the company's ability to incur certain liens. The record date for the consent solicitation is the close of business, New York City time, on Jan. 25, 2008. The consent solicitation will expire at 5:00 p.m., New York City time, on Monday, Feb. 4, 2008, unless extended. The company is offering a consent fee of US$20 per US$1,000 of principal amount of Notes to each holder of record as of the record date who has delivered a valid consent prior to the Expiration Time. The company's obligations to accept consents and pay a consent fee is conditioned, among other things, on the receipt of consents to the amendments from holders of at least a majority in aggregate principal amount of Notes, the consummation of a senior unsecured convertible indebtedness transaction raising gross proceeds of not less than US$125 million on or before Feb. 15, 2008, and other conditions. Questions from holders regarding the consent solicitation or requests for additional copies of the Consent Solicitation Statement, the Consent Form or other related documents should be directed to the information agent for the consent solicitation: Global Bondholder Services Corporation Suite 723, 65 Broadway New York, NY 10006 Tel (866) 873-6300 (toll free) (212) 430-3774 (call collect) or Morgan Stanley & Co. Incorporated Solicitation Agent Tel (800) 624-1808 (toll free) About Chiquita Brands International Inc. Cincinnati, Ohio-based Chiquita Brands International Inc. (NYSE: CQB) -- http://www.chiquita.com/-- markets and distributes fresh food products including bananas and nutritious blends of green salads. The company markets its products under the Chiquita(R) and Fresh Express(R) premium brands and other related trademarks. Chiquita employs approximately 25,000 people operating in more than 70 countries worldwide, including Belgium, Columbia, Germany, Panama, Philippines, among others. CHIQUITA BRANDS: Reviews Capital Structure, Eyes Refinancing ------------------------------------------------------------ Chiquita Brands International Inc. is reviewing its capital structure. It is considering options including a potential amendment or refinancing of its senior secured credit facility and a convertible note offering, which is intended to lower the company's interest expense, extend maturities and provide additional covenant flexibility. The company's total debt at year end 2007 was US$814 million, compared to US$1.029 billion a year ago, with minimal mandatory principal repayment obligations during the next three years. The company remained in compliance with its covenants under its existing debt facilities at Dec. 31, 2007, and expects to remain in compliance. The company reported liquidity that included cash in excess of US$70 million, compared to US$65 million at year-end 2006, as well as US$169 million of availability under its current revolving credit facility. The company remained in compliance with its covenants under its existing debt facilities at Dec. 31, 2007, and expects to remain in compliance with them. The current secured credit facility includes a Term Loan C, which had a balance outstanding of US$326 million at Dec. 31, 2007, and a US$200 million revolving credit facility used for seasonal working capital needs. As of Dec. 31, 2007, the revolving credit facility was undrawn and had availability of US$169 million after outstanding letters of credit. As part of its proposed refinancing, the parent company, Chiquita Brands International Inc., may consider issuing convertible senior unsecured notes, the proceeds of which would be used to partially prepay the existing Term Loan C. In connection with the proposed refinancing, the company is seeking consent from holders of its 7-1/2% senior notes due in 2014, in order to amend the terms of the indenture under which the notes were issued. Consummation of the refinancing is subject to a number of market and other conditions. No assurance can be given that any such amendment or refinancing of the company's capital structure can or will be completed on terms that are acceptable to the company, if at all. About Chiquita Brands International Inc. Cincinnati, Ohio-based Chiquita Brands International, Inc. (NYSE: CQB) -- http://www.chiquita.com/-- markets and distributes fresh food products including bananas and nutritious blends of green salads. The company markets its products under the Chiquita(R) and Fresh Express(R) premium brands and other related trademarks. Chiquita employs approximately 25,000 people operating in more than 70 countries worldwide, including Belgium, Columbia, Germany, Panama, Philippines, among others. CHIQUITA BRANDS: Moody's Holds B3 Corporate Family Rating --------------------------------------------------------- Moody's Investors Service affirmed the ratings of Chiquita Brands International, Inc. including its B3 corporate family rating and B3 probability of default rating, following the company's announcement that it is reviewing its capital structure. The rating outlook remains negative. Ratings affirmed * Chiquita Brands International, Inc. -- Corporate family rating at B3; -- Probability of default rating at B3; -- US$250 million 7.5% senior unsecured notes due 2014 at Caa2 (LGD5, 89%); -- US$225 million 8.875% senior unsecured notes due 2015 at Caa2 (LGD5, 89%). * Chiquita Brands, LLC -- US$200 million senior secured revolving credit agreement at B1(LGD2,26%); -- Senior secured Term Loan C at B1(LGD2,26%); -- Rating withdrawn (debt repaid). * Chiquita Brands, LLC -- Senior unsecured Term Loan B at B1 (LGD2, 26%). Chiquita is considering a potential amendment or refinancing of its senior secured bank agreement and is also considering a convertible senior unsecured note offering at the holding company level. Proceeds from the potential new convertible issue will be used for the partial repayment of Term Loan C. Upon issuance of convertible notes and application of proceeds to Term Loan C, Moody's may upgrade the ratings of the company's existing senior secured revolving credit and Term Loan C; upon issuance of a senior unsecured convertible note at the holding company, the amount of debt that is effectively subordinated to the senior secured bank facility will increase while the amount of senior secured bank debt will decline, resulting in a lower expected loss on the bank debt. The affirmation of the company's ratings is based on the fact that fiscal year 2007 reported EBIT is expected to stabilize at a level close to that of fiscal 2006, adding back certain non- recurring charges in both years; and that the 2007 restructuring is expected to generate cost savings of US$60 million to US$80 million in fiscal 2008. Chiquita's B3 corporate family rating incorporates the company's weak credit metrics and challenged operating performance. Ratings also reflect continued uncertainty with regard to long term structural changes occurring in the company's key European Union banana market such as greater competition following the elimination of volume restrictions under a tariff only import fee regime effective Jan. 1, 2006; the need to improve results at the company's salads and healthy snacks to historical levels; and continued pressure from rising input costs. Ratings are supported by Chiquita's solid franchise as one of the largest global fresh fruit and vegetable companies with strong market shares and good diversification in terms of product offerings, geographic reach, and raw material supply. Cincinnati, Ohio-based Chiquita Brands International Inc. -- http://www.chiquita.com/-- is a global producer and marketer of bananas, other fresh fruit and vegetables with revenues of approximately US$4.7 billion for the fiscal year ended Dec. 31, 2007. Chiquita employs approximately 25,000 people operating in more than 70 countries worldwide, including Belgium, Colombia, Germany, Panama, Philippines, among others. CHIQUITA BRANDS: S&P's Ratings Held by Capital Structure Review --------------------------------------------------------------- Standard & Poor's Ratings Services said that its ratings and outlook on Chiquita Brands International Inc. (B-/Negative/--) remain unchanged following the company's announcement that it is reviewing its capital structure. Chiquita may amend or refinance its senior secured credit facility, and may issue a convertible note offering (of at least US$125 million) to repay a portion of the existing term loan C (US$326 million was outstanding at Dec. 31, 2007). In connection with the proposed refinancing, Chiquita is seeking consent from holders of the US$250 million 7.5% senior notes due 2014 to amend the terms of the indenture. These actions are intended to reduce the company's interest expense, extend maturities, and provide additional covenant flexibility. The company was in compliance with covenants under its existing credit facility at Dec. 31, 2007, and expects to remain in compliance. Liquidity is currently adequate, with cash in excess of US$70 million and US$169 million available on the US$200 million revolver (reflecting US$31 million of letters of credit outstanding) at Dec. 31, 2007. S&P will review the company's capital structure and financing proposals when and if they occur. While Chiquita expects operating income to improve in 2008, the company continues to face a difficult operating environment that includes higher industry and other costs, such as fuel, raw product, materials and production. =========== F R A N C E =========== BALLY TECHNOLOGIES: Seminole Tribe to Get 2,000 Gaming Machines --------------------------------------------------------------- Bally Technologies, Inc. has signed a three-year operating agreement with the Seminole Tribe of Florida to provide an initial order of 2,000 new Class III gaming machines for the Seminole's seven casinos in Florida. The company's agreement is part of the Seminole Tribe's initial Class III gaming machine order following the Jan. 7, 2008, approval of a new compact between the United States Department of the Interior and Florida Governor Charlie Crist, that allows Las Vegas-style slot machines and card games at the Seminole's gaming facilities in Tampa, Hollywood, Immokalee,Coconut Creek, Brighton, and Big Cypress. "Bally has been a key strategic partner of the Seminole Tribe for a number of years," said Seminole Gaming Chief Executive Officer, James Allen. "We have been impressed with Bally's momentum in both games and systems and are pleased they will be playing an important part in our introduction of Las Vegas-style slot machines with the placement of an initial order of 2,000 games." "We are honored to be a part of this historic moment for the Seminole Tribe of Florida as they move to a Class III, Las Vegas-style gaming model," said Bally Technologies Chief Executive Officer, Richard M. Haddrill. "Bally has been providing Class II games for the past five years now through our subsidiary, Sierra Design Group, and we are also providing casino management system technology including our iVIEW(TM) interactive player display. This has been a successful collaboration that we only see continuing to evolve and prosper as the Tribe implements our newest and most exciting Class III games throughout its world-class casinos." Players at the Seminole Hard Rock Casino in Hollywood will be the first to play Bally's Class III games beginning at 11:30 am EST on Monday, Jan. 28. The company is providing an array of high-performing video and stepper games, including Golden Monkey(TM), a popular five-reel, 25-line video slot; Hot Shot Progressive(TM); Quick Hit Platinum(TM) multi-level progressive; and the Company's Millionaire Sevens(TM) multi-level progressive. About Bally Technologies Inc. Headquartered in Las Vegas, Nevada, Bally Technologies, Inc. (NYSE: BYI) -- http://www.BallyTech.com/-- designs, manufactures, operates, and distributes advanced gaming devices, systems, and technology solutions worldwide. Bally's product line includes reel-spinning slot machines, video slots, wide- area progressives and Class II lottery and central determination games and platforms. Bally Technologies also offers an array of casino management, slot accounting, bonus, cashless, and table management solutions. The company also owns and operates Rainbow Casino in Vicksburg, Mississippi. The company's South American operations are located in Argentina. The company also has operations in France, Germany, Macau, China, India, and the United Kingdom. * * * As reported in the Troubled Company Reporter-Europe on Dec. 28, 2007, Fitch Ratings upgraded Bally Technologies' Issuer Default Rating and senior secured bank debt ratings as: IDR to 'B' from 'B-' and Secured bank credit facilities to 'BB/RR1' from 'B/RR3'. DELPHI CORP: Court Allows Committee Participation in Exit Loan -------------------------------------------------------------- The Honorable Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York permits members of the Official Committee of Unsecured Creditors and the Official Committee of Equity Security Holders appointed in the bankruptcy cases of Delphi Corp. and its debtor-affiliates to participate in any syndicate of lenders assembled to provide exit financing facilities for the Debtors' emergence from Chapter 11. The Court directs all interested Statutory Committee members to: (a) to make advanced written disclosure of their participation in the Exit Loan Syndication to the Debtors, counsel to each of the Statutory Committees, and the U.S. Trustee; (b) withhold any information with his or her institution, or any lender or other party involved in the Exit Financing, related to the Debtors' or Statutory Committees' strategy regarding the Exit Financing; and (c) abstain from any direct negotiations with the Debtors or the Statutory Committees on the Exit Financing. Participating Statutory Committee members will be screened on an ongoing basis from any information relating to the Debtors' or the Statutory Committees' strategy regarding, and any deliberations by the applicable Statutory Committee in any respect thereon, the Exit Financing, Judge Drain rules. Nothing in the Court's order relieves any member of the Statutory Committees from its obligations under any applicable securities laws, Judge Drain clarifies. As reported in the Troubled Company Reporter on Jan. 9, 2008, the Debtors reduced their Exit Financing from the Court-approved US$6.8 billion to US$6.1 billion. The reduced facilities include: (a) US$1.6 billion in an asset-backed revolving credit facility; (b) US$3.7 billion in a first-lien term loan facility; and (c) US$825 million in a second lien term loan facility. About Delphi Corp. Headquartered in Troy, Michigan, Delphi Corporation (PINKSHEETS: 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 March 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 Court approved Delphi's First Amended Joint Disclosure Statement and related solicitation procedures for the solicitation of votes on the First Amended Plan on Dec. 20, 2007. The Court confirmed the Debtors' First Amended Plan on Jan. 25, 2008. (Delphi Bankruptcy News, Issue No. 108; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) * * * In early January 2008, Moody's Investors Service's assigned ratings to Delphi Corporation for the company's financing for emergence from Chapter 11 bankruptcy protection: Corporate Family Rating of (P)B2; $3.7 billion of first lien term loans, (P)Ba3; and $0.825 billion of 2nd lien term debt, (P)B3. In addition, a Speculative Grade Liquidity rating of SGL-2 representing good liquidity was assigned. Moody's said the outlook is stable. Standard & Poor's Ratings Services meanwhile said that it expects to assign its 'B' corporate credit rating to Delphi upon the company's emergence from Chapter 11 bankruptcy protection, which may occur by the end of the first quarter of 2008. S&P expects the outlook to be negative. In addition, Standard & Poor's expects to assign these issue-level ratings: a 'B+' issue rating (one notch above the corporate credit rating), and '2' recovery rating to the company's proposed $3.7 billion senior secured first-lien term loan; and a 'B-' issue rating (one notch below the corporate creditrating), and '5' recovery rating to the company's proposed $825 million senior secured second-lien term loan. DELPHI CORP: Court Grants Final Approval of MDL Settlements ----------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of New York entered a final order on Jan. 25, 2008, approving the Multidistrict Litigation Settlements among the Debtors, General Motors Corp., and the lead plaintiffs in securities actions and lawsuits brought under the Employee Retirement Income Security Act consolidated before the U.S. District Court for the Eastern District Of Michigan, Southern Division. Pursuant to the MDL Settlements, the Debtors agreed to grant the Lead Plaintiffs and ERISA Plaintiffs claims under their First Amended Joint Plan of Reorganization. The Lead Plaintiffs are the holders of Section 510(b) Note Claims under the Plan, while the ERISA Plaintiffs are the holders of the Section 510(b) Equity Claims. In exchange, the Lead Plaintiffs and the ERISA Plaintiffs will release the Debtors from any and all claims in connection with the Securities Litigation. The Hon. Robert Drain authorizes the Debtors to release any and all of their claims against the current and former officers and directors of Delphi Corp. that relate to or arise out of any alleged violations of the federal securities laws during the period March 7, 2000, through March 3, 2005, inclusive. Judge Drain permits the Debtors and the other MDL Settlement parties to make nonmaterial modifications to the MDL Settlements without further Court order provided that the Official Committee of Unsecured Creditors and the Official Committee of Equity Security Holders do not lodge an objection to any proposed modification within five business days' notice. About Delphi Corp. Headquartered in Troy, Michigan, Delphi Corporation (PINKSHEETS: 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 March 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 Court approved Delphi's First Amended Joint Disclosure Statement and related solicitation procedures for the solicitation of votes on the First Amended Plan on Dec. 20, 2007. The Court confirmed the Debtors' First Amended Plan on Jan. 25, 2008. (Delphi Bankruptcy News, Issue No. 109; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) * * * In early January 2008, Moody's Investors Service's assigned ratings to Delphi Corporation for the company's financing for emergence from Chapter 11 bankruptcy protection: Corporate Family Rating of (P)B2; $3.7 billion of first lien term loans, (P)Ba3; and $0.825 billion of 2nd lien term debt, (P)B3. In addition, a Speculative Grade Liquidity rating of SGL-2 representing good liquidity was assigned. Moody's said the outlook is stable. Standard & Poor's Ratings Services meanwhile said that it expects to assign its 'B' corporate credit rating to Delphi upon the company's emergence from Chapter 11 bankruptcy protection, which may occur by the end of the first quarter of 2008. S&P expects the outlook to be negative. In addition, Standard & Poor's expects to assign these issue-level ratings: a 'B+' issue rating (one notch above the corporate credit rating), and '2' recovery rating to the company's proposed $3.7 billion senior secured first-lien term loan; and a 'B-' issue rating (one notch below the corporate creditrating), and '5' recovery rating to the company's proposed $825 million senior secured second-lien term loan. ============= G E R M A N Y ============= AUTOHAUS CORSO: Claims Registration Period Ends February 20 ----------------------------------------------------------- Creditors of Autohaus Corso GmbH have until Feb. 20, 2008, to register their claims with court-appointed insolvency manager Axel W. Bierbach. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on March 31, 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 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: Axel W. Bierbach Schwanthalerstr. 32 80336 Munich Germany Tel: 54511-0 Fax: 54511-444 The District Court of Munich opened bankruptcy proceedings against Autohaus Corso GmbH on Jan. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Autohaus Corso GmbH Friedenstr. 18a 81671 Munich Germany BAUSTOFF HANDELS: Claims Registration Period Ends February 20 ------------------------------------------------------------- Creditors of Baustoff- Handels- Gesellschaft mbH have until Feb. 20, 2008, to register their claims with court-appointed insolvency manager Daniela Hatschbach. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on March 12, 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 Bielefeld Hall 4065 Fourth Floor Gerichtstrasse 66 33602 Bielefeld Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Daniela Hatschbach Hahler Str. 253 32427 Minden Germany The District Court of Bielefeld opened bankruptcy proceedings against Baustoff- Handels- Gesellschaft mbH on Dec. 12, 2007. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Baustoff- Handels- Gesellschaft mbH Attn: Uta Kudlek, Manager Weststr. 33 32425 Minden Germany BD DIENSTLEISTUNGS: Claims Registration Period Ends February 26 --------------------------------------------------------------- Creditors of BD Dienstleistungs GmbH have until Feb. 26, 2008 to register their claims with court-appointed insolvency manager Michael C. Frege. Creditors and other interested parties are encouraged to attend the meeting at 8:50 a.m. on March 27, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Frankfurt/Main Hall 2 Building F Klingerstrasse 20 60313 Frankfurt/Main Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Michael C. Frege Barckhausstrasse 12-16 60325 Frankfurt/Main Germany Tel: 069/71701-300 Fax: 069/71701-40-410 The District Court of Frankfurt/Main opened bankruptcy proceedings against BD Dienstleistungs GmbH on Jan. 18, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: BD Dienstleistungs GmbH Mainzer Landstrasse 164 60327 Frankfurt am Main Germany C&M SERVICE: Claims Registration Period Ends February 20 -------------------------------------------------------- Creditors of C. & M. Service + Dienstleistungs GmbH have until Feb. 20, 2008, to register their claims with court-appointed insolvency manager Joseph Albers. Creditors and other interested parties are encouraged to attend the meeting at 1:00 p.m. on March 5, 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 Essen Meeting Hall 293 Second Floor Zweigertstr. 52 45130 Essen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Joseph Albers Von-der-Recke-Str. 5-7 45879 Gelsenkirchen Germany The District Court of Essen opened bankruptcy proceedings against C. & M. Service + Dienstleistungs GmbH on Jan. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: C. & M. Service + Dienstleistungs GmbH Attn: Klaus Wolter, Manager Moellerstrasse 24b 45966 Gladbeck Germany CHEF DELICE: Claims Registration Period Ends February 20 -------------------------------------------------------- Creditors of Chef delice Bio- und Tiefkuehlspezialitaten GmbH have until Feb. 20, 2008, to register their claims with court- appointed insolvency manager Dr. Eckard Pongratz. Creditors and other interested parties are encouraged to attend the meeting at 2:00 p.m. on March 19, 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 Mosbach Meeting Hall 12 Lohrtalweg 2 74821 Mosbach 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. Eckard Pongratz Steinbachtal 2b 97082 Wuerzburg Germany Tel: 0931/991560 The District Court of Mosbach opened bankruptcy proceedings against Chef delice Bio- und Tiefkuehlspezialitaten GmbH on Jan. 4, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Chef delice Bio- und Tiefkuehlspezialitaten GmbH Attn: Lorenz Armbruster, Manager Wolferstadter Weg 23 97900 Kuelsheim Germany EIKA WACHSWERKE: Files for Insolvency at Fulda Court ---------------------------------------------------- Eika Wachswerke Fulda GmbH has applied for opening of insolvency proceedings at the District Court of Fulda, the Financial Times reports, citing Frankfurter Allgemeine Zeitung as its source. The court has appointed Sandra Mitter of Kanzlei Leonhardt, Westhelle & Partner as interim insolvency administrator for the company, pending approval of the insolvency filing. The interim insolvency administrator can be reached at: Sandra Mitter c/o Kanzlei Leonhardt, Westhelle & Partner Wilhelmshoeher Allee 270 34131 Kassel Germany Tel: 0561/3166-311 Fax: 0561/3166-312 Eika managing director Thomas Schunke said the company could no longer pay its banks and suppliers, adding that it had too many orders in hand and too few sales, FAZ relates. Eika had EUR40 million in annual turnover. Mr. Schunke told FAZ that employees' salaries are guaranteed for the next three months. The Court is located at: The District Court of Fulda Hall 3100 Koenigstrasse 38 36037 Fulda Germany The Debtor can be reached at: Eika Wachswerke Fulda GmbH An Vierzehnheiligen 19-25 36039 Fulda Germany Web site: http://www.eika.de/ ERICH ROHDE: Negotiations with Square Four in Advanced Stage ------------------------------------------------------------ Carsten Koch, insolvency administrator of Erich Rohde KG, said that German investment company Square Four will take over the company, the Financial Times Ltd. reports, citing Handelsblatt. Mr. Koch told Handelsblatt that takeover talks are at an advanced stage and that the plan is centered on maintaining the company. Eric Rohde filed an insolvency petition before the District Court of Marburg/Lahn on March 12, 2007 after it was overburdened with costs arising from the partial closure of its plant in Portugal, where 1,350 workers are employed. Headquartered in Schwalmstadt, Germany, Eric Rhode KG is a shoe manufacturer with operations in Austria and Portugal. The company employs approximately 1,950 coworkers. It has an annual turnover of EUR130 million. FIT-GETRANKE VERTRIEBS: Claims Registration Ends February 20 ------------------------------------------------------------ Creditors of Fit-Getranke Vertriebs-GmbH have until Feb. 20, 2008 to register their claims with court-appointed insolvency manager Rolf Rombach. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on March 19, 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 Meiningen Hall 208 Lindenallee 15 98617 Meiningen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Rolf Rombach Magdeburger Allee 159 99086 Erfurt Germany The District Court of Meiningen opened bankruptcy proceedings against Fit-Getranke Vertriebs-GmbH on Jan. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Fit-Getranke Vertriebs-GmbH Attn: Wolfgang Eberhard, Manager Bahnhofstr. 26 a 99826 Mihla Germany GABS DIENSTLEISTUNG: Claims Registration Ends February 20 --------------------------------------------------------- Creditors of GABS DIENSTLEISTUNG GmbH have until Feb. 20, 2008 to register their claims with court-appointed insolvency manager Rolf Otto Neukirchen. Creditors and other interested parties are encouraged to attend the meeting at 2:30 p.m. on March 5, 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 Essen Meeting Hall 293 Second Floor Zweigertstr. 52 45130 Essen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Rolf Otto Neukirchen Zweigertstr. 28-30 45130 Essen Germany The District Court of Essen opened bankruptcy proceedings against GABS DIENSTLEISTUNG GmbH on Jan. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: GABS DIENSTLEISTUNG GmbH Attn: Stefan Weitzel, Manager Wilhelminenstr. 174 45881 Gelsenkirchen Germany GABS EUROTEACH: Claims Registration Ends February 20 ---------------------------------------------------- Creditors of GABS "Euroteach" Qualifizierungs- und Beschaftigungs gGmbH have until Feb. 20, 2008 to register their claims with court-appointed insolvency manager Rolf Otto Neukirchen. Creditors and other interested parties are encouraged to attend the meeting at 2:45 p.m. on March 5, 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 Essen Meeting Hall 293 Second Floor Zweigertstr. 52 45130 Essen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Rolf Otto Neukirchen Zweigertstr. 28-30 45130 Essen Germany The District Court of Essen opened bankruptcy proceedings against GABS "Euroteach" Qualifizierungs- und Beschaftigungs gGmbH on Jan. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: GABS "Euroteach" Qualifizierungs- und Beschaftigungs gGmbH Attn: Stefan Weitzel, Manager Wilhelminenstr. 174 45881 Gelsenkirchen Germany GABS GESELLSCHAFT: Claims Registration Ends February 20 ------------------------------------------------------- Creditors of GABS Gesellschaft fuer Arbeitsfoerderung, berufliche Bildung und Soziokultur gem. GmbH have until Feb. 20, 2008 to register their claims with court-appointed insolvency manager Rolf Otto Neukirchen. Creditors and other interested parties are encouraged to attend the meeting at 1:30 p.m. on March 5, 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 Essen Meeting Hall 293 Second Floor Zweigertstr. 52 45130 Essen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Rolf Otto Neukirchen Zweigertstr. 28-30 45130 Essen Germany The District Court of Essen opened bankruptcy proceedings against GABS Gesellschaft fuer Arbeitsfoerderung, berufliche Bildung und Soziokultur gem. GmbH on Jan. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: GABS Gesellschaft fuer Arbeitsfoerderung, berufliche Bildung und Soziokultur gem. GmbH Attn: Stefan Weitzel, Manager Wilhelminenstr. 174 45881 Gelsenkirchen Germany GABS KAUE: Claims Registration Ends February 20 ----------------------------------------------- Creditors of GABS "KAUE" Kultur- und Veranstaltungszentrum gGmbH have until Feb. 20, 2008 to register their claims with court- appointed insolvency manager Rolf Otto Neukirchen. Creditors and other interested parties are encouraged to attend the meeting at 3:00 p.m. on March 5, 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 Essen Meeting Hall 293 Second Floor Zweigertstr. 52 45130 Essen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Rolf Otto Neukirchen Zweigertstr. 28-30 45130 Essen Germany The District Court of Essen opened bankruptcy proceedings against GABS "KAUE" Kultur- und Veranstaltungszentrum gGmbH on Jan. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: GABS "KAUE" Kultur- und Veranstaltungszentrum gGmbH Attn: Stefan Weitzel, Manager Wilhelminenstr. 174 45881 Gelsenkirchen Germany GW GARTENBAU: Claims Registration Period Ends February 19 --------------------------------------------------------- Creditors of GW Gartenbau Waldenburg GmbH have until Feb. 19, 2008 to register their claims with court-appointed insolvency manager Thomas Heilmann. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on April 1, 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 Chemnitz Hall 24 Fuerstenstrasse 21-23 09130 Chemnitz Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Thomas Heilmann Barbarossastrasse 2 09112 Chemnitz Tel: (0371) 4330044 Fax: (0371) 4330049 E-mail: www.Heilmann.LI The District Court of Chemnitz opened bankruptcy proceedings against GW Gartenbau Waldenburg GmbH on Jan. 2, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: GW Gartenbau Waldenburg GmbH Attn: Thomas Marschall, Manager Gartnereiweg 1 08396 Waldenburg Germany HIRSCH AG: Duesseldorf Court Commences Insolvency Proceedings ------------------------------------------------------------- The District Court of Duesseldorf opened insolvency proceedings against Hirsch AG on Jan. 24, 2008, and appointed Joerg Nerlich as insolvency administrator. Hirsch filed for insolvency after major shareholders failed to agree to jointly finance the company's restructuring plan, the Financial Times reports, citing Frankfurter Allgemeine Zeitung as its source. According to FAZ, the restructuring plan entails reducing Hirsch's workforce by 60% and foresees EUR30 million in turnover for fiscal year ended Oct. 31, 2008. The company has also canceled the appointment of Claus Niehaus, former manager as head of the management board, FAZ adds. Mr. Niehaus, however, will act in an advisory capacity for Hirsch. The insolvency administrator can be reached at: Joerg Nerlich Louise-Dumont-Str. 25 40211 Duesseldorf Germant The court is located at: The District Court of Duesseldorf Meeting Hall A 409 Fourth Floor Muehlenstrasse 34 40213 Duesseldorf Germany The Debtor can be reached at: Hirsch AG Monschauer Strasse 11 40549 Duesseldorf Germany Hirsch AG -- http://www.hirsch-ag.de/-- manufactures womens' clothing inncluding produces dresses, skirts, blouses, trousers, jackets, coats, suits and co-ordinates. IDEA-DEIN HAUS: Claims Registration Period Ends February 19 ----------------------------------------------------------- Creditors of iDEA-Dein Haus Baupartner GmbH Leipzig have until Feb. 19, 2008 to register their claims with court-appointed insolvency manager Hans-Juergen Paul. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on March 18, 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 Leipzig Hall 061 Ground Floor Enforcement Court Bernhard Goering Strasse 64 04275 Leipzig Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Hans-Juergen Paul Getzelauer Strasse 2 04279 Leipzig Germany Tel: 0341/336090 Fax: 0341/3360970 E-mail: kanzlei@paul-inso.de The District Court of Leipzig opened bankruptcy proceedings against iDEA-Dein Haus Baupartner GmbH Leipzig on Jan. 2, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: iDEA-Dein Haus Baupartner GmbH Leipzig Essener Strasse 39 04357 Leipzig Germany ITRA INTERNATIONALE: Claims Period Ends February 19 --------------------------------------------------- Creditors of ITRA - Internationale Transportgesellschaft mbH have until Feb. 19, 2008 to register their claims with court- appointed insolvency manager Dr. jur. Marco Liebler. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on March 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 Kempten Hall 139/I Residenzplatz 4-6 87435 Kempten 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. jur. Marco Liebler c/o Kanzlei Ott & Kollegen Nymphenburger Str. 139 80636 Muenchen Tel: 089/120 260 Fax: 089/120 261 27 The District Court of Kempten opened bankruptcy proceedings against ITRA - Internationale Transportgesellschaft mbH on Jan. 21, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: ITRA - Internationale Transportgesellschaft mbH Faulenseeweg 16 87629 Fuessen Germany KAY-EL GERMANY: Claims Registration Period Ends February 19 ----------------------------------------------------------- Creditors of Kay-El Germany GmbH have until Feb. 19, 2008 to register their claims with court-appointed insolvency manager Sebastian Henneke. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on March 11, 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 Muenster Meeting Hall 101 B First Floor Gerichtsstr. 2-6 48149 Muenster Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Sebastian Henneke Adenauerallee 36 46399 Bocholt Germany Tel: 028 71/2354877 Fax: +4928712354879 The District Court of Muenster opened bankruptcy proceedings against Kay-El Germany GmbH on Jan. 8, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Kay-El Germany GmbH Attn: Dr. Andreas Roepke, Manager Telingskamp 11 46395 Bocholt Germany MAY MEDICAL: Claims Registration Period Ends February 21 -------------------------------------------------------- Creditors of may medical GmbH Sanitatshaus have until Feb. 21, 2008 to register their claims with court-appointed insolvency manager Fatma Kreft. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on March 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 Offenbach am Main Hall 162N First Floor Kaiserstrasse 63065 Offenbach am Main Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Fatma Kreft Neue Mainzer Str. 84 60311 Frankfurt am Main Germany Tel: 069/6773677-0 Fax: 069/6773677-20 The District Court of Offenbach am Main opened bankruptcy proceedings against may medical GmbH Sanitatshaus on Jan. 21, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: may medical GmbH Sanitatshaus Frankfurter Str. 25 63500 Seligenstadt Germany Attn: Kristina May, Manager Silcherstr. 23 60529 Frankfurt am Main Germany NSL GMBH: Claims Registration Period Ends February 22 ----------------------------------------------------- Creditors of NSL GmbH Fahrzeugbau u. Bremsendienst have until Feb. 22, 2008 to register their claims with court-appointed insolvency manager Dr. Heinz Dieter Klein. Creditors and other interested parties are encouraged to attend the meeting at 11:00 a.m. on March 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 Cologne Meeting Hall 142 First Floor Luxemburger Strasse 101 50939 Cologne Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Heinz Dieter Klein Am Waldpark 11 50996 Koeln Germany The District Court of Cologne opened bankruptcy proceedings against NSL GmbH Fahrzeugbau u. Bremsendienst on Jan. 14, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: NSL GmbH Fahrzeugbau u. Bremsendienst Dornierstr. 3 51381 Leverkusen Germany Attn: Birgit Pohlmann, Manager Am Solperts Garten 9 40764 Langenfeld Germany PIN GROUP: Creditor Claim Forces Parent to File for Insolvency -------------------------------------------------------------- PIN Group S.A., parent company of PIN Group AG, filed for insolvency at District Court of Cologne on Jan. 25, 2008, to defer payment of a EUR1.5 million claim to a creditor, the Financial Times reports. The insolvency filing follows similar steps taken by PIN Group AG's 37 local units. As reported in the TCR-Europe on Jan. 29, 2008, 19 more units is expected to file for insolvency this week. Company spokesman Thomas Schulz stressed to Frankfurter Allgemeine Zeitung that the filings were part of the company's effort to restructure and save as many jobs as possible. As reported in the TCR-Europe on Jan. 29, 2008, The Blackstone Group, Kohlberg Kravis Roberts & Co., and Advent International Corp. are holding preliminary sale talks with PIN Group management board chairman Horst Piepenburg. Mr. Schulz told Suddeutsche Zeitung that the talks need to be concluded by end-February, when PIN Group is expected to exhaust its funds. PIN Group will open its books to interested investors next week. About PIN Group AG Headquartered in Luxembourg, PIN Group AG -- http://www.pin-group.net/-- provides postal services across Germany. The group has more than 60 regional subsidiaries, and in 2006 became a national integrated provider by setting up an efficient nationwide distribution network. As previously reported in the TCR-Europe report, PIN Group's units filed for insolvency after Axel Springer AG, which holds a 71% stake, decided to stop funding the company. Axel Springer said the business in unviable following the German government's decision to introduce minimum wages of EUR8-EUR9.80 for the postal industry, which would PIN, which has 9,000 employees, up to EUR45 million, although "most of the costs are expected to be covered by a form of state reimbursement." REINHARD FENGE: Claims Registration Period Ends February 19 ----------------------------------------------------------- Creditors of Reinhard Fenge Abbruch-und Baggerarbeiten GmbH have until Feb. 19, 2008 to register their claims with court- appointed insolvency manager Barbara Fahlke. Creditors and other interested parties are encouraged to attend the meeting at 10:20 a.m. on April 1, 2008, 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 Osnabrueck Hall N 302 Kollegienwall 10 49074 Osnabrueck 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: Barbara Fahlke Neubrueckenstrasse 35/37 48143 Muenster Germany Tel: 0251/4842316 Fax: 0251/4843614 The District Court of Osnabrueck opened bankruptcy proceedings against Reinhard Fenge Abbruch-und Baggerarbeiten GmbH on Jan. 4, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Reinhard Fenge Abbruch-und Baggerarbeiten GmbH Osnabruecker Str. 37 49176 Hilter Germany SIAN VERWALTUNGS: Claims Registration Period Ends March 11 ---------------------------------------------------------- Creditors of SiAn Verwaltungs GmbH have until March 11 to register their claims with court-appointed insolvency manager Dr. Romy Metzger. Creditors and other interested parties are encouraged to attend the meeting at 1:00 p.m. on April 1, 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 Erfurt Hall 12 Rudolfstr. 46 99092 Erfurt 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. Romy Metzger Steigerstr. 30 99096 Erfurt Germany The District Court of Erfurt opened bankruptcy proceedings against SiAn Verwaltungs GmbH on Jan. 21, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: SiAn Verwaltungs GmbH Attn: Thomas Siegel, Manager Zum Hirtenberg 23 98716 Geraberg Germany STEFAN NIENABER: Claims Registration Period Ends February 19 ------------------------------------------------------------ Creditors of Stefan Nienaber Bau GmbH have until Feb. 19, 2008 to register their claims with court-appointed insolvency manager Hartmut Stange. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on March 11, 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 Bielefeld Hall 4065 Fourth Floor Gerichtstrasse 66 33602 Bielefeld Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Hartmut Stange Adenauerplatz 4 33602 Bielefeld Germany The District Court of Bielefeld opened bankruptcy proceedings against Stefan Nienaber Bau GmbH on Jan. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Stefan Nienaber Bau GmbH Attn: Stefan Nienaber, Manager Huetemersch 7 a 33442 Herzebrock-Clarholz Germany WARME-CONZEPT: Claims Registration Period Ends February 19 ---------------------------------------------------------- Creditors of Warme-Conzept GmbH have until Feb. 19, 2008, to register their claims with court-appointed insolvency manager Andreas Buss. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on March 31, 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 Schwerin Hall 7 Demmlerplatz 14 19053 Schwerin Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Andreas Buss Beethovenstrasse 2a 18209 Bad Doberan Germany The District Court of Schwerin opened bankruptcy proceedings against Warme-Conzept GmbH on Jan. 7, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Warme-Conzept GmbH Attn: Bernd Voigtlander Am Schilde 7a 23966 Wismar Germany ============= H U N G A R Y ============= PROPEX INC: Section 341(a) Creditors Meeting Slated for March 4 --------------------------------------------------------------- Richard F. Clippard, the United States Trustee for Region 8, will convene a meeting of the creditors of Propex, Inc., and its debtor subsidiaries at 10:00 a.m., on March 4, 2008, at Basement Room 18, U. S. Bankruptcy Court, at 31 East 11th Street, in Chattanooga, Tennessee. This is the first meeting of creditors required under Section 341(a) of the Bankruptcy Code in the Debtors' bankruptcy cases. Attendance by the Debtors' creditors at the meeting is welcome, but not required. The Sec. 341(a) meeting offers the creditors a one-time opportunity to examine the Debtors' representative under oath about the Debtors' financial affairs and operations that would be of interest to the general body of creditors. Headquartered in Chattanooga, Tennessee, Propex Inc. -- http://www.propexinc.com/-- produces geosynthetic, concrete, furnishing, and industrial fabrics and fiber. It is produces primary and secondary carpet backing. Propex operates in Brazil, Mexico, Germany, Hungary, and the United Kingdom. The company and its debtor-affiliates filed for Chapter 11 protection on Jan. 18, 2008 (Bankr. E.D. Tenn. Case No. 08- 10249). The debtors' has selected Edward L. Ripley, Esq., Henry J. Kaim, Esq., and Mark W. Wege, Esq. at King & Spalding, in Houston, Texas, to represent them. As of Sept. 30, 2007, the debtors' balance sheet showed total assets of US$585,700,000 and total debts of US$527,400,000. (Propex Bankruptcy News, Issue No. 4; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) PROPEX INC: U.S. Trustee Appoints Five-Member Creditors' Panel -------------------------------------------------------------- Richard F. Clippard, the United States Trustee for Region 8, appoints five members to the Official Committee of Unsecured Creditors of the Chapter 11 cases of Propex, Inc., and its affiliates. The Creditors Committee members are: 1. Wilmington Trust Company Attn: James J. McGinley, Managing Director 520 Madison Avenue, 33rd floor New York, N.Y. 10022 Tel No.: 212-415-0522 Fax No.: 212-415-0513 Cell No.: 917-446-0136 2. Pension Benefit Guaranty Corporation Attn: Christopher Gran, Financial Analyst 1200 K Street, N.W., Suite 240 Washington, D. C 20005 Tel no.: 202-326-4070 ext. 3405 or 800-400-7242 ext. 3405 3. TOTAL PETROCHEMICALS USA, Inc. Attn: Joel Anderson, Corporate Credit Manager 1201 Louisiana Street, Suite 1800 Houston, TX 77002 Tel No.: 713-483-5271 Fax No.: 713-483-5759 4. BP Corporation North America Inc. Attn: Matt Linford 4101 Winfield Road Warrenville, IL 60504 Tel No.: 630-821-3227 Fax No.: 630-821-3420 5. SMH Capital Advisors, Inc. Attn: Stephen Cooke 4800 Overton Plaza, Suite 300 Fort Worth, TX 76109 Tel No.: 817-731-9559 ext. 248 Fax No.: 817-731-4641 The U.S. Trustee has scheduled an Organizational Meeting of the Committee for Wednesday, January 30, 2008, at 1:30 p.m., at the Miller & Martin Conference Room, 5th Floor, Volunteer Building, at 832 Georgia Avenue, in Chattanooga, Tennessee. Headquartered in Chattanooga, Tennessee, Propex Inc. -- http://www.propexinc.com/-- produces geosynthetic, concrete, furnishing, and industrial fabrics and fiber. It is produces primary and secondary carpet backing. Propex operates in Brazil, Mexico, Germany, Hungary, and the United Kingdom. The company and its debtor-affiliates filed for Chapter 11 protection on Jan. 18, 2008 (Bankr. E.D. Tenn. Case No. 08- 10249). The debtors' has selected Edward L. Ripley, Esq., Henry J. Kaim, Esq., and Mark W. Wege, Esq. at King & Spalding, in Houston, Texas, to represent them. As of Sept. 30, 2007, the debtors' balance sheet showed total assets of US$585,700,000 and total debts of US$527,400,000. (Propex Bankruptcy News, Issue No. 4; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) =================== K A Z A K H S T A N =================== ALTERNATIVA 2007: Proof of Claim Deadline Slated for March 4 ------------------------------------------------------------ LLP Alternativa 2007 has declared insolvency. Creditors have until March 4 to submit written proofs of claims to: LLP Alternativa 2007 Sadvakasov Str. 44-25 Kokshetau Akmola Kazakhstan EXPRESS UNITS: Creditors Must File Claims by March 4 ---------------------------------------------------- LLP Express Units has declared insolvency. Creditors have until March 4 to submit written proofs of claims to: LLP Express Units Abai Str. 1-22 Otegen batyr Ilyisky District Almaty Kazakhstan KAINAR KUS: Claims Filing Period Ends March 4 --------------------------------------------- JSC Kainar Kus has declared insolvency. Creditors have until March 4 to submit written proofs of claims to: JSC Kainar Kus Kainar Ordabasinsky District South Kazakhstan Kazakhstan MIRNY