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        T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

            Monday, February 11, 2008, Vol. 9, No. 29

                            Headlines


A U S T R I A

ENGELBERT MOSER: Creditors' Meeting Slated for February 25
OASIS FITNESS: Claims Registration Period Ends March 13
PIZZERIA DI MAURO: Claims Registration Period Ends March 5
SAB ELECTRONIC: Claims Registration Period Ends March 13
SIPRO & CO: Claims Registration Period Ends March 17

TELIS KG: Claims Registration Period Ends March 11


B U L G A R I A

NOVA PLAMA: Pleven Court Orders Firm to Pay Wage Arrears & Debt


F R A N C E

HARMAN INTERNATIONAL: Earns US$43 Mln in Quarter Ended Dec. 31


G E R M A N Y

COMTEL EDV-SERVICE: Claims Registration Period Ends March 5
FABAS FAHRZEUG: Claims Registration Period Ends March 5
HANDEL - SPEDITION: Claims Registration Period Ends February 27
KUNST-UND BAUGLASEREI: Claims Period Ends February 19
NUTHE BAU: Claims Registration Ends March 4

ODT GMBH: Claims Registration Period Ends February 25
PGL PLANUNGSBUERO: Claims Registration Ends March 4
PRIMALOGIC TECHNOLOGIES: Claims Registration Ends March 4
PRISMA HAUS: Claims Registration Ends March 4
PRISMA HAUSBAU: Claims Registration Ends March 4

PROPEC GMBH: Claims Registration Period Ends March 4
PURAC GMBH: Claims Registration Period Ends March 4
RE-WO BAUMASCHINEN: Claims Registration Period Ends February 25
SRLS VERWALTUNGS: Claims Registration Period Ends February 21
TOUR SALES: Claims Registration Period Ends March 4


I R E L A N D

FAI FINANCIAL: Receives Winding Up Orders from the High Court


I T A L Y
ALITALIA SPA: Outgoing Prime Minister Vows to Complete Sale


K A Z A K H S T A N

AUYL-TURKESTAN CREDIT: Claims Deadline Slated for March 7
BALHASH ARUY: Creditors Must File Claims by March 7
BALHASH-AGRO LTD: Claims Filing Period Ends March 7
COMPLECT SERVICE: Creditors' Claims Due on March 7
JAWAD GROUP: Claims Registration Ends March 7

KAZAKHSTANSKAYA GRUPPA: Proof of Claim Deadline Set for Mar. 7
KAZNOOTECH LLP: Creditors Must File Claims by March 7
PEKARI LLP: Claims Filing Period Ends March 7
PROMTECHS-STANDARD LLP: Creditors' Claims Due on March 7
VELT LLP: Claims Registration Ends March 7


K Y R G Y Z S T A N

BIO ICE-TECHNIC: Creditors Must File Claims by February 26
CHIL USTUN-UG: Claims Filing Period Ends February 22


N E T H E R L A N D S

BLACKBOARD INC: Earns US$4.2 Mln in Quarter Ended December 31
ROMPETROL GROUP: Strategic Ties Prompt Fitch to Up Rating to B+


N O R W A Y

CAPROCK COMMS: Liquidity Concerns Cue Moody's Negative Outlook


P O L A N D

EXIDE TECHNOLOGIES: Taps Phillip Damaska as Exec. Vice President
KNOLL INC: Reports US$20.7-Mln Net Income in Fourth Quarter 2007


R U S S I A

BRISTOW GROUP: Quarter Ended Dec. 31 Earnings Hike to US$20 Mln
CHUVASHIA REPUBLIC: Moody's Holds Ba2 Rating with Stable Outlook
GEO-INVEST LLC: Creditors Must File Claims by February 28
LAND LLC: Creditors Must File Claims by February 28
NARVA LLC: Krasnoyarsk Bankruptcy Hearing Slated for May 21

OB’-FISH LLC: Asset Sale Slated for February 26
OMSK-BREAD-PROM: Creditors Must File Claims by February 26
OMSK-STORY-MOST: Omsk Bankruptcy Hearing Slated for June 3
TURILOVSKOE CJSC: Creditors Must File Claims by March 28


S W I T Z E R L A N D

ARCUSWEAR JSC: Lucerne Court Starts Bankruptcy Proceedings
CARROSSERIE ENZIRIED: Creditors Must File Claims by Feb. 15
D. FLURI LLC: Creditors' Liquidation Claims Due by Feb. 15
ILI INTERNATIONAL: Lucerne Court Starts Bankruptcy Proceedings
LISCO JSC: Creditors' Liquidation Claims Due by Feb. 15

SAMHABER ENGINEERING: Creditors Must File Claims by Feb. 15
STETTLER HOLZ: Creditors' Liquidation Claims Due by Feb. 15
TRABAT JSC: Creditors' Liquidation Claims Due by Feb. 15


U K R A I N E

INTERSERVICE LLC: Proofs of Claim Filing Deadline Set Feb. 22
MAXIMUM ALT: Creditors Must File Claims by February 21
NADEZHDA LLC: Proofs of Claim Filing Deadline Set February 21
RUTEL LLC: Creditors Must File Claims by February 21
SEVERGAS LLC: Creditors Must File Claims by February 22

SIPAYLO LLC: Proofs of Claim Filing Deadline Set February 21
SOUTH-AGRO-TRANS LLC: Creditors Must File Claims by February 21
VIVA-LUX LLC: Creditors Must File Claims by February 22
VIVATECHNOCOM LLC: Creditors Must File Claims by February 21


U N I T E D   K I N G D O M

BRIGGS PALM: Taps PwC as Joint Administrators
BRITISH ENERGY: Wins Case Over Eggborough Option Rights
BRITISH ENERGY: CEO Attacks Scottish Government's Energy Policy
CASTAWAY KIDS: Michael Young Leads Liquidation Procedure
CHRYSLER LLC: Still Out to Grab Tooling Equipment from Plastech

DENNIS RUABON: Ruaban Sales Ltd. Acquires the Assets
DURA AUTOMOTIVE: To Bypass Top Executives from 2008 Bonuses
DURA AUTO: Reaches Settlement Pact w/ Nyloncraft for US$2 Mln
ENVIRONMENT CONCERN: Appoints Begbies Traynor as Administrators
FEATURECREEP LTD: Taps Liquidators from BDO Stoy Hayward

MMP GROUP: Brings In Liquidators from KPMG
MOBILITY CUBE: Appoints Duncan R. Beat as Liquidator
MONITOR OIL: Committee Taps Thompson & Knight as Counsel
MONITOR OIL: Judge Glenn Denys Ad Hoc Committee's Dismiss Plea
NORTHERN ROCK: Gets Public Sector Classification from ONS

NORTHERN ROCK: Small Investors Likely to Support In-House Offer
NOVIKOVA LTD: Taps Peter Hollis to Liquidate Assets
NSE LTD: Names Joint Administrators from PwC
QUEBECOR WORLD: ISDA Launches Protocol to Settle Derivate Trades
SEA CONTAINERS: Court Approves SC Iberia and YMCL Guarantees

SHEPLEY WINDOW: Brings In Joint Administrators from Deloitte
SIRVA INC Commences Prepackaged Chapter 11 Case to Pare Debt
SIRVA INC: Case Summary & 30 Largest Unsecured Creditors
SUPERIOR REAL: Appoints PwC to Administer Assets
TRITON GALLERIES: Calls In Liquidators from BDO Stoy Hayward

W.R GRACE: Reports Fourth Quarter 2007 Financial Results

* Deloitte Says Insolvency Filing Down by 7% in 2007

* Moody's Says European Speculative-Grade Default Rate Down

* Moody's Expects Global Default Rate to Rise in 2008

* BOND PRICING: For the Week Feb. 4 to Feb. 8, 2008


                            *********

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A U S T R I A
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ENGELBERT MOSER: Creditors' Meeting Slated for February 25
----------------------------------------------------------
Creditors owed money by LLC Engelbert Moser u. Co. (FN 118800g)
are encouraged to attend the creditors' meeting at 10:00 a.m. on
Feb. 25, 2008.

The creditors' meeting will be held at:

          The Land Court of Eisenstadt
          Hall F
          Eisenstadt
          Austria

Headquartered in Oberwart, Austria, the Debtor declared
bankruptcy on Jan. 21, 2008 (26 S 2/08h).  Elisabeth Hrastnik
serves as the court-appointed estate administrator of the
bankrupt's estate.

The estate administrator can be reached at:

          Dr. Elisabeth Hrastnik
          Hauptplatz 11
          Atrium, Top 16 A
          7400 Oberwart
          Austria
          Tel: 03352/31375
          Fax: 03352/31375-16
          E-mail: dr.hrastnik@utanet.at


OASIS FITNESS: Claims Registration Period Ends March 13
-------------------------------------------------------
Creditors owed money by LLC OASIS Fitness (FN 241806y) have
until March 13, 2008 to file written proofs of claim to court-
appointed estate administrator Matthias Schmidt at:

          Dr. Matthias Schmidt
          c/o Dr. Florian Gehmacher
          Dr. Karl Lueger-Ring 12
          1010 Vienna
          Austria
          Tel: 533 16 95
          Fax: 535 56 86
          E-mail: schmidt@preslmayr.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:45 a.m. on March 27, 2008 for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1701
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 22, 2008 (Bankr. Case No. 6 S 8/08f).  Florian Gehmacher
represents Dr. Schmidt in the bankruptcy proceedings.


PIZZERIA DI MAURO: Claims Registration Period Ends March 5
----------------------------------------------------------
Creditors owed money by PIZZERIA "DI MAURO Sebastiano" have
until March 5, 2008 to file written proofs of claim to court-
appointed estate administrator Peter Frisch at:

          Dr. Peter Frisch
          Braunauer Strasse 22
          4950 Altheim
          Austria
          Tel: 07723/41 213
          Fax: 07723/41 213 - 4
          E-mail: office@ra-frisch.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on March 13, 2008 for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Ried im Innkreis
          Hall 101
          First Floor
          Ried im Innkreis
          Austria

Headquartered in Burgkirchen, Austria, the Debtor declared
bankruptcy on Jan. 22, 2008 (Bankr. Case No. 17 S 4/08g).


SAB ELECTRONIC: Claims Registration Period Ends March 13
--------------------------------------------------------
Creditors owed money by  LLC Sab electronic components  (FN
133304k) have until March 13, 2008 to file written proofs of
claim to court-appointed estate administrator Michael Lesigang
at:

          Dr. Michael Lesigang
          Landstrasser Hauptstrasse 14-16/8
          1030 Vienna
          Austria
          Tel: 715 25 26
          Fax: 715 25 26 27
          E-mail: michael@lesigang.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at noon on  March 27, 2008 for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1701
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 22, 2008 (Bankr. Case No. 6 S 6/08m).


SIPRO & CO: Claims Registration Period Ends March 17
----------------------------------------------------
Creditors owed money by LLC SIPRO & Co KG (FN 146861y) have
until March 17, 2008 to file written proofs of claim to court-
appointed estate administrator Guenther Dobretsberger at:

          Dr. Guenther Dobretsberger
          Starhembergstrasse 58
          4020 Linz
          Austria
          Tel: 77 31 74
          Fax: 77 31 74 20
          E-mail: office@do-st.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on March 31, 2008 for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Linz
          Room 522
          Fifth Floor
          Linz
          Austria

Headquartered in Linz, Austria, the Debtor declared bankruptcy
on Jan. 22, 2008 (Bankr. Case No. 12 S 104/07t).


TELIS KG: Claims Registration Period Ends March 11
--------------------------------------------------
Creditors owed money by KG Telis (FN 296265i) have until
March 11, 2008 to file written proofs of claim to court-
appointed estate administrator Katharina Widhalm-Budak at:

          Dr. Katharina Widhalm-Budak
          Schulerstrasse 18
          1010 Vienna
          Austria
          Tel: 513 10 37
          Fax: 513 10 37-22
          E-mail: widhalm-budak@anwaltsteam.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:45 a.m. on March 25, 2008  for the
examination of claims.

The meeting of creditors will be held at:

          The Trade Court of Vienna
          Room 1607
          Vienna
          Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on Jan. 22, 2008 (Bankr. Case No. 28 S 11/08h).


===============
B U L G A R I A
===============


NOVA PLAMA: Pleven Court Orders Firm to Pay Wage Arrears & Debt
---------------------------------------------------------------
The District Court of Pleven has ordered receivers of bankrupt
oil concern JSC Nova Plama AD to pay off 10-year wage arrears to
former employees, Novinite reports.

Around 2,300 Nova Plama's former employees will receive delayed
salaries -- in accumulated sums of between BGN500 and BGN30,000
-- through debit cards and bank transfers, Novinite relates.

As previously reported in the TCR-Europe, Nova Plama's 2,232
creditors will not receive their money until the court settles
the unpaid wage claims, which according to Focus Information
Agency total BGN12 million.

Nova Plama's receivers sold assets of Nova Plama to Highway
Logistic Center EOOD for BGN44.44 million at an auction on
June 18, 2007.  The company's receivers will the auction
proceeds to pay its creditors.

                       About Nova Plama

Headquartered in Pleven, Bulgaria, JSC Nova Plama AD was the
main supplier of base oils, finished oils and special products
for all local and most East-European consumers.

The District Court of Pleven opened a bankruptcy proceeding
against the company in July 2005.  The proceeding is the second
in seven years after the Bulgarian oil company failed to
implement its rehabilitation plan approved by creditors in 1999.

In January 2006, Yorset Holding and DZI Bank filed separate
insolvency petitions against Nova Plama.  Yorset failed to have
Nova Plama declared insolvent, after the Supreme Cassation Court
stayed the proceedings against the oil refinery.  The Court said
Yorset does not own enough credit percentage to ask for an
insolvency ruling.  Court records show that Yorset and DZI Bank
own 14.83% and 7.9% respectively of Nova Plama's BGL241 million
debt.


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


HARMAN INTERNATIONAL: Earns US$43 Mln in Quarter Ended Dec. 31
--------------------------------------------------------------
Harman International Industries Incorporated reported results
for the second quarter ending Dec. 31, 2007.

For the quarter, net income was US$43 million.  Excluding
merger-related costs, net income was US$46 million.

Foreign currency translation positively impacted quarterly
results as the Euro strengthened approximately 12% compared to
the same quarter last year.  The Euro averaged US$1.45 in the
second quarter compared to US$1.29 in the same period last year.

As a result, foreign currency translation improved sales by
approximately US$75 million and contributed US$0.15 to earnings
per diluted share in the quarter.

"Although we continue to increase sales across all divisions,
our automotive earnings are under pressure due to portable
navigation devices, product mix, and higher engineering and
material costs during a period of record launch activity,"
Dinesh Paliwal, Harman' chief executive officer, said.  "We are
accelerating a number of strategic actions to improve our cost
structure and optimize our global footprint in the automotive
sector, while flattening our broader organization to instill a
strong culture of execution."

                     Strategic Appointments

Harman's board of directors has been expanded to eight members,
bringing new expertise and global range.  Brian Carroll has
joined from KKR, bringing strong financial expertise.
Dr. Harald Einsmann, a German national who has worked with such
industry leaders as Procter & Gamble, the Wallenberg Group, and
the Carlson Group, brings international business experience.
Gary Steel, a Scottish national with experience from Europe's
Shell and ABB Groups, adds deep expertise in human resources,
restructuring, and corporate governance.

The company has also disclosed several significant additions to
its senior management team in recent weeks.

   * Richard Sorota, an experienced executive with premium
     consumer brand companies, Procter & Gamble and Royal
     Phillips, has joined the company as consumer division
     president.

   * John Stacey, with 20 years of experience in employee and
     organizational development across the Americas and Europe,
     is joining Harman as vice president of human resources.

   * Robert Lardon has joined the company as vice president,
     strategy and investor relations.  In addition to his
     experience as a management consultant at PwC, Accenture,
     and Booz Allen, Mr. Lardon was chief strategy officer at
     Porter Novelli, a Top 10 communications agency.

   * Kent Moerk, a Danish national, has been appointed to
     manage the newly established global PND business unit
     which will integrate the company's two lines of portable
     navigation devices.

   * Dr. Wolfgang Ptacek, who has held senior management
     positions at T-Mobile and Bosch, has been appointed chief
     technology officer for Harman automotive operations
     worldwide.

   * Bronson Reed, an experienced international finance
     executive at ABB, joined the company as vice president,
     group controller.

In order to strengthen the leadership and to improve common
processes across multiple Harman businesses, the company has
created the new position of Country Manager in the United States
and Japan, and will extend this concept to Germany, China,
India, and Russia.

Blake Augsburger, who leads the professional division, has taken
this additional role in the US. Ken Yasuda, president of Harman
Consumer Japan, assumes the additional group-wide country role
in Japan.  These individuals will serve as country champion for
functional best practices, and will directly participate in such
business activities as project risk reviews, large supply or
investment proposals, restructurings, and key human resource
decisions.

                     Strategic Initiatives

During the fiscal second quarter, the company initiated an
extensive review of its footprint and launched a number of key
initiatives to improve simplicity and cost.  In the third
quarter, restructuring of the company's automotive footprint was
accelerated with the decision to close plants in Northridge,
California and Martinsville, Indiana.

Also during the third quarter, the company decided to shut down
two smaller facilities in Massachusetts serving the consumer
division.  These operations will be integrated with other Harman
facilities in California and New York.  Consolidations of
additional Harman manufacturing and engineering facilities in
Europe and Africa are under review.

These actions are expected to result in restructuring charges of
US$25 to US$30 million in the third quarter and US$5 to US$10
million in the fourth quarter of fiscal 2008.  About 1400 jobs
will be affected, of which 500 jobs will be eliminated and the
balance transferred to other Harman facilities in the United
States, Germany, China, and Mexico.

The company has added several hundred new jobs at its plants in
Mexico and China and extensive job training is now being
completed.  The company has also decided to add capacity to its
plant in Hungary in order to expand production of audio
electronics and speakers.

The company is in the final stage of completing its plan to
outsource its information technology infrastructure.  This step
will blend an outside service provider's solutions expertise
with emerging-country resources to bring us significant gains in
both agility and cost.  This initiative will also help us take a
closer look at alternative resources for project-related
software, systems and costs.

In the third quarter, the company also decided to consolidate
resources from Washington, DC and Northridge, California to its
new corporate headquarters in Stamford, Connecticut.  This will
accelerate the speed of decision making and improve coordination
across key company functions.

                         Balance Sheet

At Dec. 31, 2007, the company's balance sheet showed total
assets of US$2.65 billion, total liabilities of US$1.41 billion
and total shareholders' equity of US$1.24 billion

                About Harman International

Based in Washington, D.C., Harman International Industries Inc.
(NYSE: HAR) -- http://www.harman.com/-- manufactures, designs
and markets a range of audio and infotainment products for the
automotive, consumer and professional markets.  The company
maintains a presence in the Americas, Europe and Asia and
employs more than 10,500 people worldwide.  The Harman
International family of brands spans some 15 leading names
including AKG, Audioaccess, Becker, BSS, Crown, dbx, DigiTech,
DOD, Harman Kardon, Infinity, JBL, Lexicon, Mark Levinson,
Revel, QNX, Soundcraft and Studer.  Harman Int'l has operations
in Japan, Mexico and France.

                        *     *     *

Standard & Poor's Ratings Services, in October 2007, revised its
CreditWatch implications for the 'BB-' corporate credit rating
on Harman International Industries Inc. to positive from
developing.


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


COMTEL EDV-SERVICE: Claims Registration Period Ends March 5
-----------------------------------------------------------
Creditors of COMTEL EDV-Service GmbH have until March 5, 2008 to
register their claims with court-appointed insolvency manager
Hubert Griesoph.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on March 26, 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 Wilhelmshaven
         Hall 109
         Old Building
         Marktstrasse 15
         26382 Wilhelmshaven
         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:

          Hubert Griesoph
          Alte Wiefelsteder Str. 3
          26316 Varel
          Germany
          Tel: 04451-913880
          Fax: 04451-913839
          E-mail: buero@hsm-stb.de

The District Court of Wilhelmshaven opened bankruptcy
proceedings against COMTEL EDV-Service GmbH on Dec. 27, 2007.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          COMTEL EDV-Service GmbH
          Attn: Michael Tjarks, Manager
          Graudenzer Strasse 2
          26316 Varel
          Germany


FABAS FAHRZEUG: Claims Registration Period Ends March 5
-------------------------------------------------------
Creditors of FABAS Fahrzeug- und Baumaschinenservice GmbH have
until March 5, 2008 to register their claims with court-
appointed insolvency manager Dirk Wittkowski.

Creditors and other interested parties are encouraged to attend
the meeting at 9:35 a.m. on April 22, 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 Charlottenburg
         Hall 218
         Second Floor
         Amtsgerichtsplatz 1
         14057 Berlin
         Germany

The Court will also verify the claims set out in the insolvency
manager's report 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. Dirk Wittkowski
          Kirchblick 11
          14129 Berlin
          Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against FABAS Fahrzeug- und Baumaschinenservice GmbH
on Dec. 5, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

          FABAS Fahrzeug- und Baumaschinenservice GmbH
          Plauener Str. 160
          13053 Berlin
          Germany


HANDEL - SPEDITION: Claims Registration Period Ends February 27
---------------------------------------------------------------
Creditors of HSL Handel - Spedition - Ligistik GmbH have until
Feb. 27, 2008 to register their claims with court-appointed
insolvency manager Jens Lieser.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 2, 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 Betzdorf
         Hall 109
         First Floor
         Friedrichstrasse 17
         57518 Betzdorf
         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:

         Jens Lieser
         Koelner Strasse 29
         57610 Altenkirchen
         Germany
         Tel: 02681-803618
         Fax: 02681-950505

The District Court of Betzdorf opened bankruptcy proceedings
against HSL Handel - Spedition - Ligistik GmbH on Jan. 22, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         HSL Handel - Spedition - Ligistik GmbH
         Bergstrasse 5
         57577 Hamm/Sieg
         Germany


KUNST-UND BAUGLASEREI: Claims Period Ends February 19
-----------------------------------------------------
Creditors of Kunst-und Bauglaserei Robert Scherer GmbH have
until Feb. 19, 2008 to register their claims with court-
appointed insolvency manager Christina Siegert.

Creditors and other interested parties are encouraged to attend
the meeting at 9:55 a.m. on April 1, 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 Munich
         Meeting Room 102
         Infanteriestr. 5
         80097 Munich
         Germany

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

The insolvency manager can be reached at:

         Christina Siegert
         Oskar-von-Miller Ring 34-36
         80333 Muenchen
         Germany
         Tel: 089-24440930
         Fax: 089-244409365

The District Court of Munich opened bankruptcy proceedings
against Kunst-und Bauglaserei Robert Scherer GmbH on Jan. 24,
2008.  Consequently, all pending proceedings against the company
have been automatically stayed.

The Debtor can be reached at:

         Kunst-und Bauglaserei Robert Scherer GmbH
         Kistlerhofstr. 102
         81379 Muenchen
         Germany


NUTHE BAU: Claims Registration Ends March 4
-------------------------------------------
Creditors of Nuthe Bau GmbH have until March 4, 2008 to register
their claims with court-appointed insolvency manager Andre
Schirrmeister.

Creditors and other interested parties are encouraged to attend
the meeting at 2:10 p.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 Dessau
         Hall 123
         Willy-Lohmann-Str. 33
         Dessau
         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:

         Andre Schirrmeister
         Magdeburger Strasse 23
         06112 Halle
         Germany
         Tel: 0345/2311111
         Fax: 0345/2311199

The District Court of Dessau opened bankruptcy proceedings
against Nuthe Bau GmbH on Jan. 22, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Nuthe Bau GmbH
         Kirschallee 3
         39261 Zerbst
         Germany

         Attn: H. Redling, Manager
         Jeversche Str. 18
         39261 Zerbst
         Germany


ODT GMBH: Claims Registration Period Ends February 25
-----------------------------------------------------
Creditors of ODT GmbH have until Feb. 25, 2008 to register their
claims with court-appointed insolvency manager Dr. Juergen
Toemp.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 a.m. on March 17, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Kleve
         Meeting Hall C 58
         Ground Floor
         Schlossberg 1
         47533 Kleve
         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. Juergen Toemp
         Wilhelmshofallee 75
         47800 Krefeld
         Germany
         Tel: 02151-58130
         Fax: 02151-5813134

The District Court of Kleve opened bankruptcy proceedings
against ODT GmbH on Jan. 25, 2008.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         ODT GmbH
         Boemsfeld 4
         47627 Kevelaer
         Germany

         Attn: Stephan Kremer, Manager
         Ostwall 3
         41515 Grevenbroich
         Germany


PGL PLANUNGSBUERO: Claims Registration Ends March 4
---------------------------------------------------
Creditors of PGL Planungsbuero fuer Garten-, Landschafts- und
Freiraumgestaltung GmbH have until March 4, 2008 to register
their claims with court-appointed insolvency manager Dr.
Christoph Schulte-Kaubruegger.

Creditors and other interested parties are encouraged to attend
the meeting at 9:40 a.m. on April 4, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Charlottenburg
         Hall 218
         Second Floor
         Amtsgerichtsplatz 1
         14057 Berlin
         Germany

The Court will also verify the claims set out in the insolvency
manager's report 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. Christoph Schulte-Kaubruegger
         Genthiner Str. 48
         10785 Berlin
         Germany

The District Court of Charlottenburg opened bankruptcy
proceedings against PGL Planungsbuero fuer Garten-, Landschafts-
und Freiraumgestaltung GmbH on Jan. 2, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         PGL Planungsbuero fuer Garten-, Landschafts- und
         Freiraumgestaltung GmbH
         Woennichstrasse 68/70
         10317 Berlin
         Germany


PRIMALOGIC TECHNOLOGIES: Claims Registration Ends March 4
---------------------------------------------------------
Creditors of primalogic technologies GmbH have until March 4,
2008 to register their claims with court-appointed insolvency
manager Dr. Rainer Eckert.

Creditors and other interested parties are encouraged to attend
the meeting at 10:10 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 Leipzig
         Hall 145
         First 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:

         Dr. Rainer Eckert
         Kathe-Kollwitz-Strasse 9
         04109 Leipzig
         Germany
         Tel: 0341/910470
         Fax: 0341/9104710
         E-mail: eckert-leipzig@rae-eckert.de

The District Court of Leipzig opened bankruptcy proceedings
against primalogic technologies GmbH on Jan. 10, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         primalogic technologies GmbH
         Attn: Thomas Schwing, Manager
         Schorlemmerstrasse 7
         04155 Leipzig
         Germany


PRISMA HAUS: Claims Registration Ends March 4
---------------------------------------------
Creditors of Prisma Haus GmbH have until March 4, 2008 to
register their claims with court-appointed insolvency manager
Wolfgang Weidemann.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 15, 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 Reinbek
         Parkallee 6
         21465 Reinbek
         Germany

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

The insolvency manager can be reached at:

         Wolfgang Weidemann
         Wendenstr. 4
         20097 Hamburg
         Germany

The District Court of Reinbek opened bankruptcy proceedings
against Prisma Haus GmbH on Jan. 18, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

        Prisma Haus GmbH
        Lily Braun Strasse 46
        23843 Bad Oldesloe
        Germany


PRISMA HAUSBAU: Claims Registration Ends March 4
------------------------------------------------
Creditors of Prisma Hausbau GmbH have until March 4, 2008 to
register their claims with court-appointed insolvency manager
Wolfgang Weidemann.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on April 15, 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 Reinbek
         Parkallee 6
         21465 Reinbek
         Germany

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

The insolvency manager can be reached at:

         Wolfgang Weidemann
         Wendenstr. 4
         20097 Hamburg
         Germany

The District Court of Reinbek opened bankruptcy proceedings
against Prisma Hausbau GmbH on Jan. 17, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Prisma Hausbau GmbH
         Attn: Stefan Barz and Jan Busch, Manager
         Lily-Braun-Strasse 46
         23843 Bad Oldesloe
         Germany


PROPEC GMBH: Claims Registration Period Ends March 4
----------------------------------------------------
Creditors of propec GmbH have until March 4, 2008 to register
their claims with court-appointed insolvency manager Christoph
Mathern.

Creditors and other interested parties are encouraged to attend
the meeting on April 15, 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
         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:

          Christoph Mathern
          Kanzlerstr. 32-34
          09112 Chemnitz
          Germany
          Tel: (0371) 490 91 67
          Fax: (0371) 490 94 44
          E-mail: mail@poessl.com

The District Court of Chemnitz opened bankruptcy proceedings
against propec GmbH on Jan. 24, 2008.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

          propec GmbH
          Rand 8
          09526 Heidersdorf
          Germany


PURAC GMBH: Claims Registration Period Ends March 4
---------------------------------------------------
Creditors of PURAC GmbH have until March 4, 2008 to register
their claims with court-appointed insolvency manager Herbert
Feigl.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 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 Halle-Saalkreis
         Hall 1.043
         Judicial Center
         Thueringer Str. 16
         06112 Halle
         Germany

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

The insolvency manager can be reached at:

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

The District Court of Halle-Saalkreis opened bankruptcy
proceedings against PURAC GmbH on Jan. 4, 2008.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

          PURAC GmbH
          Weissenfelser Strasse 46 a
          06217 Merseburg
          Germany


RE-WO BAUMASCHINEN: Claims Registration Period Ends February 25
---------------------------------------------------------------
Creditors of RE-WO Baumaschinen und Baugerate
Handelsgesellschaft mbH have until Feb. 25, 2008 to register
their claims with court-appointed insolvency manager Dirk
Hammes.

Creditors and other interested parties are encouraged to attend
the meeting at 10:10 a.m. on March 17, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Kleve
         Meeting Hall C 58
         Ground Floor
         Schlossberg 1
         47533 Kleve
         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:

         Dirk Hammes
         Wilhelmshofallee 75
         47800 Krefeld
         Germany
         Tel: 02151 - 5813 - 0
         Fax: 02151 - 5813134

The District Court of Kleve opened bankruptcy proceedings
against RE-WO Baumaschinen und Baugerate Handelsgesellschaft mbH
on Jan. 25, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         RE-WO Baumaschinen und
         Baugerate Handelsgesellschaft mbH
         Hochstr. 60
         47506 Neukirchen-Vluyn
         Germany

         Attn: Edward Rentz, Manager
         Muehlenstr. 19
         47506 Neukirchen-Vluyn
         Germany


SRLS VERWALTUNGS: Claims Registration Period Ends February 21
-------------------------------------------------------------
Creditors of SRLS Verwaltungs-GmbH have until Feb. 21, 2008 to
register their claims with court-appointed insolvency manager
Udo Groener.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.m. on March 15, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Saarbruecken
         Meeting Hall 24
         Branch Office Sulzbach
         Vopeliusstrasse 2
         66280 Sulzbach
         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:

         Udo Groener
         Faktoreistrasse 4
         66111 Saarbruecken
         Germany
         Tel: 0681/ 41010
         Fax: 0681/ 4101 276

The District Court of Saarbruecken opened bankruptcy proceedings
against SRLS Verwaltungs-GmbH on Jan. 29, 2008.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         SRLS Verwaltungs-GmbH
         Attn: Udo Prinz und
               Leander Schoen, Managers
         Lise Meitner-Weg 1
         66271 Rilchingen-Hanweiler
         Germany


TOUR SALES: Claims Registration Period Ends March 4
---------------------------------------------------
Creditors of tour sales GmbH have until March 4, 2008 to
register their claims with court-appointed insolvency manager
Rainer Eckert.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 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 Leipzig
         Hall 035
         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:

          Dr. Rainer Eckert
          Kathe-Kollwitz-Strasse 9
          04109 Leipzig
          Germany
          Tel: 0341/910470
          Fax: 0341/9104710
          E-mail: eckert-leipzig@rae-eckert.de

The District Court of Leipzig opened bankruptcy proceedings
against tour sales GmbH on Jan. 14, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

          tour sales GmbH
          Attn: Oliver Huettl, Manager
          Kippenbergstrasse 4
          04317 Leipzig
          Germany


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


FAI FINANCIAL: Receives Winding Up Orders from the High Court
-------------------------------------------------------------
Justice Mary Laffoy of the High Court ordered the winding up of
FAI Financial Corporation Ltd. following majority shareholder
Fexco's application, published reports say.

William O'Riordan of PricewaterhouseCoopers LLP and Simon
Granger of FTI Consulting will jointly liquidate FAI, reports
disclosed.

According to the reports, the company had an agreement with
Barclays Bank for finance facilities and had drawn around GBP30
million under that.  Barclays has a first fixed charge over the
assets and undertaking of the company and the loan was repayable
in October 12, 2007.

Fexco provided funding to FAI to date for amounts of
GBP7,718,518 and EUR1,691,700, reports say.

Fexco's counsel Lyndon MacCann told reporters that FAI Finance
was not in a position to settle its debts to either Barclays or
Fexco.

Headquartered in Dublin, Ireland, FAI Financial Corporation Ltd.
-- http://www.ffc.ie/-- was engaged in providing loans,
including right-to-buy loans, a scheme operated by the British
government under which local authority tenants in Britain could
buy their rented homes at a discount.  It also provided
industrial disease loans, essentially loans to assist workers in
Britain to make claims under industrial disease legislation
there.

The company posted GBP36 million net loss and GBP32 million in
shareholders' deficit for the year ended 2007.


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


ALITALIA SPA: Outgoing Prime Minister Vows to Complete Sale
-----------------------------------------------------------
The caretaker Italian government will "do everything possible"
to sell its 49.9% stake in Alitalia S.p.A., Bloomberg News
reports citing Italian Prime Minister Romano Prodi.

President Giorgio Napolitano dissolved the Italian parliament on
Feb. 6, 2008, and set a snap election for April 13 and 14, 2008.
Mr. Prodi's administration will remain as caretaker government
until a new prime minister is elected into office.

"We will certainly do our best to make sure that this operation,
which no-one has had the courage to face despite being widely
recognized as necessary and unavoidable, makes it to the end,"
Mr. Prodi was quoted by Agenzia Giornalistica as saying.  "We
have taken on this task and we will try to go all the way."

Alitalia and Air France-KLM SA have until mid-March to complete
exclusive talks and present a final binding offer to the Italian
government, which thereafter will decide whether to sell its
stake to the French carrier.

As previously reported in the TCR-Europe, Alitalia and Italy
commenced exclusive sale talks with Air France-KLM.

In its non-binding offer, Air France plans to:

   -- acquire 100% of the shares of Alitalia through an
      exchange offer;

   -- acquire 100% of Alitalia convertible bonds; and

   -- immediately inject at least EUR750 million into
      Alitalia through a capital increase, that will be open to
      all shareholders and be fully underwritten by Air France.

                          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.

Italian Transport Minister Alessandro Bianchi has warned that
Alitalia may file for bankruptcy if the current attempt to sell
the government's 49.9% stake fails.


Italian Government Will Proceed With Alitalia Sale, Prodi Says


===================
K A Z A K H S T A N
===================


AUYL-TURKESTAN CREDIT: Claims Deadline Slated for March 7
---------------------------------------------------------
LLP Auyl-Turkestan Credit has declared insolvency.  Creditors
have until March 7 to submit written proofs of claims to:

         LLP Auyl-Turkestan Credit
         Torekulov Str. 68
         Turkestan
         South Kazakhstan
         Kazakhstan


BALHASH ARUY: Creditors Must File Claims by March 7
---------------------------------------------------
The Tax Committee of Almaty has ordered the compulsory
liquidation of LLP Balhash Aruy (RNN 090200210565).

Creditors have until March 7 to submit written proofs of claims
to:

         The Tax Committee of Almaty
         Room 208
         Jangusurov Str. 113a
         Taldykorgan
         Almaty
         Kazakhstan
         Tel: 8 (3282) 24-19-77


BALHASH-AGRO LTD: Claims Filing Period Ends March 7
---------------------------------------------------
The Tax Committee of Almaty has ordered the compulsory
liquidation of LLP Balhash-Agro Ltd (RNN 090200044266).

Creditors have until March 7 to submit written proofs of claims
to:

         The Tax Committee of Almaty
         Room 208
         Jangusurov Str. 113a
         Taldykorgan
         Almaty
         Kazakhstan
         Tel: 8 (3282) 24-19-77


COMPLECT SERVICE: Creditors' Claims Due on March 7
--------------------------------------------------
LLP Complect Service Plast has declared insolvency.  Creditors
have until March 7 to submit written proofs of claims to:

         LLP Complect Service Plast
         Office 25
         Kazybek bi Str. 50
         Almaty
         Kazakhstan
         Tel: 8 (3272) 72-47-57


JAWAD GROUP: Claims Registration Ends March 7
---------------------------------------------
LLP Jawad Group has declared insolvency.  Creditors have until
March 7 to submit written proofs of claims to:

         LLP Jawad Group
         Shymkent, Ilyaev Str. 25
         South Kazakhstan
         Kazakhstan


KAZAKHSTANSKAYA GRUPPA: Proof of Claim Deadline Set for Mar. 7
--------------------------------------------------------------
LLP Kazakhstanskaya Gruppa Postavshikov has declared insolvency.
Creditors have until March 7 to submit written proofs of claims
to:

         LLP Kazakhstanskaya Gruppa Postavshikov
         Maresyev Str. 79-48
         Aktobe
         Aktube
         Kazakhstan


KAZNOOTECH LLP: Creditors Must File Claims by March 7
-----------------------------------------------------
LLP Kaznootech has declared insolvency.  Creditors have until
March 7 to submit written proofs of claims to:

         LLP Kaznootech
         Kutuzov Str. 6/2-13
         Pavlodar
         Kazakhstan


PEKARI LLP: Claims Filing Period Ends March 7
---------------------------------------------
The Specialized Inter-Regional Economic Court of North
Kazakhstan has declared LLP Trade House Pekari insolvent.

Creditors have until March 7 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of North Kazakhstan
         308 Krasnoznamenny Polk Str. 37
         Petropavlovsk
         North Kazakhstan
         Kazakhstan


PROMTECHS-STANDARD LLP: Creditors' Claims Due on March 7
--------------------------------------------------------
LLP Promtechs-Standard has declared insolvency.  Creditors have
until March 7 to submit written proofs of claims to:

         LLP Promtechs-Standard
         Room 19
         Aiteke bi Str. 88
         Almaty
         Kazakhstan


VELT LLP: Claims Registration Ends March 7
------------------------------------------
The Specialized Inter-Regional Economic Court of North
Kazakhstan has declared LLP Velt insolvent.

Creditors have until March 7 to submit written proofs of claims
to:

         The Specialized Inter-Regional
         Economic Court of North Kazakhstan
         308 Krasnoznamenny Polk Str. 37
         Petropavlovsk
         North Kazakhstan
         Kazakhstan


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


BIO ICE-TECHNIC: Creditors Must File Claims by February 26
----------------------------------------------------------
LLC Bio Ice-Technic has declared insolvency.  Creditors have
until Feb. 26, 2008 to submit written proofs of claim to:

         LLC Bio Ice-Technic
         Sydykov Str. 254-34
         Bishkek
         Kyrgyzstan


CHIL USTUN-UG: Claims Filing Period Ends February 22
----------------------------------------------------
LLC Chil Ustun-Ug has declared insolvency.  Creditors have until
Feb. 22, 2008 to submit written proofs of claim.

Inquiries can be addressed to (0-772) 71-36-61.


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


BLACKBOARD INC: Earns US$4.2 Mln in Quarter Ended December 31
-------------------------------------------------------------
Blackboard Inc. reported financial results for the fourth
quarter and year ended Dec. 31, 2007.

Net income was US$4.2 million for the fourth quarter of 2007
compared to net income of US$201,000 in the same period last
year.

Net income was US$12.9 million for the full year 2007 compared
to a net loss of US$10.7 million in the same period last year.

"This was a tremendous year for Blackboard," Michael Chasen,
chief executive officer and president for Blackboard, said.  "We
are pleased with our financial results, made possible by our
global client base adopting Blackboard products and services to
manage their most mission-critical technologies. During the
year, we realized strong revenue and earnings performance and
generated operating cash-flows of more than US$69 million."

At Dec. 31, 2007, the company's balance sheet showed total
assets of US$307.3 million, total liabilities of US$167.18
million and total stockholders' equity of US$140.12 million.

                    About Blackboard Inc.

Headquartered in Washington D.C., Blackboard Inc. (Nasdaq: BBBB)
-- http://www.blackboard.com/-- is a provider of enterprise
software applications and related services to the education
industry.  Founded in 1997, Blackboard's software applications
are used by colleges, universities, K-12 schools and other
education providers, well as textbook publishers and student-
focused merchants that serve education providers and their
students.  Blackboard has offices in North America, the
Netherlands, Australia, and China.

                          *     *     *

As reported in the Troubled Company Reporter-Europe on Jan, 17,
2008, Standard & Poor's Ratings Services said its ratings and
outlook on Blackboard Inc. (B+/Positive/--) would not be
affected by the company's disclosed acquisition of The NTI Group
Inc.


ROMPETROL GROUP: Strategic Ties Prompt Fitch to Up Rating to B+
---------------------------------------------------------------
Fitch Ratings upgraded Netherlands-based The Rompetrol Group
N.V.'s Long-term Issuer Default Rating (IDR) to 'B+' from 'B-'
(B minus) and removed it from Rating Watch Positive.  The Long-
term IDR has been assigned a Positive Outlook.

TRG's Long-term IDR was placed on RWP on 28 August 2007 when
Kazakhstan-based oil and gas company National Company
KazMunaiGaz (NC KMG, rated 'BBB'/'F3'/Negative Outlook)
announced an acquisition of a 75% stake in TRG from privately-
owned Rompetrol Holding SA (RH).

The rating upgrade reflects strong strategic ties between TRG
and its higher rated parent NC KMG.  Following further
discussions with the management of TRG Fitch believes that it is
likely that NC KMG, and TRG's minority shareholder RH, will
provide additional shareholder funds to TRG and/or restructure
TRG's debt, as well as supporting its ambitious capital
expenditure programme.  Although NC KMG does not guarantee TRG's
debt, Fitch believes that the parent is willing and able to
support TRG in case of financial difficulties.  To date, NC KMG
and RH have granted a USD200m subordinated loan to TRG to
improve its highly-leveraged balance sheet and tight liquidity
position.

Fitch regards TRG's strategic ties with NC KMG as strong given
that the TRG acquisition is the Kazakh company's first large
investment in the strategically important European downstream
sector. The acquisition price for TRG, together with
consolidation of TRG's net debt is material for the NC KMG group
as it equals about 0.9x NC KMG's EBITDA for 2006.

The acquisition fits NC KMG's strategy of vertical integration
into the refining and marketing sector, as TRG has doubled the
Kazakh group's refining capacity and added about 600 petrol
stations in seven European countries, primarily Romania and
France.  The Kazakh company treats TRG as a platform for further
growth through acquisitions in eastern and western Europe. There
is also room for some physical integration, as a part of TRG's
crude oil needs may be met from purchases of NC KMG's crude oil
from Kazakhstan.  In addition, NC KMG plans to integrate the
trading business of the two companies.

The Positive Outlook reflects Fitch's expectation that the
rating may be upgraded further if TRG enhances its standalone
credit profile by way of improved capital structure and reduced
refinancing risk through an extension of debt maturity profile.

TRG's liquidity remains tight, with short term maturities
exceeding cash and undrawn committed facilities, making TRG
dependent on renewal of its trading and working capital
facilities during 2008, or support from its shareholders.


===========
N O R W A Y
===========


CAPROCK COMMS: Liquidity Concerns Cue Moody's Negative Outlook
--------------------------------------------------------------
Moody's Investors Service affirmed the B2 corporate family
rating for CapRock Communications Inc. and revised the outlook
to negative due to liquidity concerns, including elevated
revolver usage relative to Moody's prior expectations, and
heightened operational risk over the next twelve months.

Moody's also downgraded the rating on the first lien secured
bank facility to B1 from Ba3.  This debt comprises the
preponderance of the debt capital structure; the downgrade
incorporates modest changes in the capital structure and is in
accord with Moody's Loss-Given Default Methodology.

Moody's could lower CapRock's ratings if debt-to-EBITDA (as per
Moody's standard adjustments) remains above 5.5 times or free
cash flow remains negative over the next 12 -- 18 months.

CapRock Communications Inc.

     * Outlook, Changed To Negative From Stable

     * Affirmed Corporate Family Rating, B2

     * Affirmed Probability of Default Rating, B2

     * Downgraded Senior Secured First Lien Credit Facility to
       B1, LGD3, 33%

     * Affirmed Senior Secured Second Lien Term Loan, Caa1,
       LGD5, 83%

CapRock's B2 corporate family rating continues to reflect the
company's small scale, high customer concentration, elevated
leverage and minimal free cash flow.  The ratings are supported
by blue-chip customers, significant barriers to entry, a healthy
contract pipeline and good customer retention rates.

CapRock Communications Inc. provides global fixed and mobile
satellite communications in remote locations engineered at high
levels of reliability.  ABRY Partners acquired CapRock for
approximately $200 million in February 2006.


===========
P O L A N D
===========


EXIDE TECHNOLOGIES: Taps Phillip Damaska as Exec. Vice President
----------------------------------------------------------------
Exide Technologies Board of Directors has appointed Phillip A.
Damaska as the new Executive Vice President and Chief Financial
Officer, effective April 1, 2008.

Mr. Damaska brings more than 30 years of experience to his new
role at Exide.  He joined the company in January 2005 as Vice
President, Finance and was subsequently appointed Vice President
and Corporate Controller in August of that same year.  Since
March 2006, Mr. Damaska has held the position of Senior Vice
President and Corporate Controller and has overseen all of the
company’s internal and external financial reporting, the
preparation of annual operating plans and forecast updates as
well as provided guidance in the company’s efforts to comply
with requirements of the Sarbanes-Oxley Act.

From 1996 through 2004, Mr. Damaska held a variety of positions
at Freudenberg-NOK, the Americas joint venture partnership
between Freudenberg and Company in Germany and NOK Corporation
in Japan.

Freudenberg-NOK provides an extensive portfolio of precision
molded products to the aerospace, aftermarket, fluid power, oil
and gas, marine, healthcare/medical, off-highway equipment,
recreational, industrial, chemical processing and semiconductor
markets worldwide.  During his tenure, he served as President of
Corteco, an automotive and industrial seal supplier that is part
of the Freudenberg-NOK global group of companies.  He also held
several finance related positions of increasing responsibility.

"During his time at Exide, Phil has demonstrated leadership and
financial acuity while earning the respect of the entire
executive team and our Board of Directors," said Exide
Technologies President and Chief Executive Officer, Gordon A.
Ulsh.  "He has played a fundamental role in strengthening
Exide’s stability and profitability, and his guidance as Chief
Financial Officer will help the Company as we drive toward
achieving our goals of growth and profitability."

Mr. Damaska holds a Bachelor’s Degree in Accounting from Albion
College and an MBA from the University of Detroit.  He also is a
Certified Public Accountant in the state of Michigan.

Mr. Damaska succeeds Francis M. Corby, Jr., who has served Exide
as Executive Vice President and Chief Financial Officer since
March 2006.  During his tenure, Mr. Corby has been instrumental
in helping the Company refinance its bank debt and complete two
separate equity rights offerings.  He plans his retirement to
coincide with the conclusion of the Company’s fiscal year 2008.

"As a mature, experienced leader, Fran infused Exide with
financial stability at a critical time in our company’s
evolution, bringing a number of internal issues under control,"
said Mr. Ulsh.  "He took the lead, for example, in strengthening
our corporate accounting controls and compliance with Sarbanes-
Oxley.  We are grateful for his many contributions that have
strengthened our position in the financial marketplace."

                    About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

The company has operations in 89 countries, including,
Australia, India, Finland, Poland, New Zealand, among others.

The company filed for chapter 11 protection on Apr. 14, 2002
(Bankr. Del. Case No. 02-11125).  Matthew N. Kleiman, Esq., and
Kirk A. Kennedy, Esq., at Kirkland & Ellis, represented the
Debtors in their successful restructuring.  The Court confirmed
Exide's Amended Joint Chapter 11 Plan on April 20, 2004.  The
plan took effect on May 5, 2004.

                         *     *     *

As reported in the Troubled Company Reporter-Europe on Nov. 26,
2007, Standard & Poor's Ratings Services has raised its
corporate credit rating on Exide Technologies to 'B-' from
'CCC+' because of the company's improved financial results,
which the company has achieved despite sharply higher lead
prices.  S&P said the outlook is stable.

Moody's Investor Service placed Exide Technologies' senior
secured debt and probability of default ratings at 'Caa1' in
September 2006.  The ratings still hold to date with a stable
outlook.


KNOLL INC: Reports US$20.7-Mln Net Income in Fourth Quarter 2007
----------------------------------------------------------------
Knoll Inc. announced results for its fourth quarter and year
ended Dec. 31, 2007.  Net sales were US$281.8 million for the
quarter, an increase of 3.2% from fourth quarter 2006.

Operating income was US$39.5 million, or 14.0% of net sales, an
increase of 11% from the fourth quarter 2006, and net income was
US$20.7 million, an increase of 15% over the fourth quarter
2006.

For the full year, net sales were US$1.05 billion, an increase
of 7.5% over full year 2006.  Operating income was US$142.2
million, or 13.5% of net sales, an increase of 21.6% over full
year 2006, net income was US$71.4 million, an increase of 21.8%
over full year 2006.

"For the 3rd year in a row now Knoll has continued to expand our
industry leading operating margins, generate better than
industry top-line growth and deliver more than 20% EPS growth
for our shareholders," said Knoll Chief Executive Officer,
Andrew Cogan.

"While we are aware that our industry faces headwinds as we head
into 2008, we are confident that the strength and diversity of
our growth initiatives, the fullness of our new product pipeline
and our cost discipline will allow us to continue to generate
better than industry top-line performance as we work to achieve
our mid-term 15% operating margin goals." Mr. Cogan added.

"I want to congratulate and thank our Associates and Dealers on
generating another year of industry leading performance.  They
have once again demonstrated that in the words of our founder
Florence Knoll 'Good design is good business.'" Mr. Cogan
stated.

Mr. Cogan noted, "Net sales for the quarter were US$281.8
million, an increase of US$8.8 million, or 3.2%, over fourth
quarter 2006, representing increased volume and price
realization from previously implemented price increases.  Our
Specialty products experienced the strongest growth during the
quarter as they also benefited from our fourth quarter
acquisition of Edelman Leather."

Backlog of unfilled orders at Dec. 31, 2007, was US$190.7
million, an increase of US$23million, or 13.7%, versus the prior
year.

Gross profit for the fourth quarter 2007 was US$99 million, an
increase of US$9.9 million, or 11.1%, over the same period in
2006.  Gross margin increased from 32.6% in the fourth quarter
of 2006 to 35.1% in spite of the significant appreciation of the
Canadian Dollar.  The increase from the fourth quarter of 2006
largely resulted from additional volume, better pricing, and
moderating inflation.  Improved factory performance and global
sourcing initiatives also contributed to the increase in gross
margin.

Operating expenses for the quarter were US$59.5 million, or
21.1% of sales, compared to US$53.5 million, or 19.6% of sales,
for fourth quarter of 2006.  The increase in operating expenses
during the fourth quarter of 2007 was in large part due to the
inclusion of Edelman Leather and increased investment spending
in marketing and product development.

Operating income increased, as a percentage of sales, to 14%
from 13% in the same period in the prior year.  Gross margin
improvements from a year ago contributed to this increase.

Net income for the fourth quarter 2007 was US$20.7 million as
compared to US$18 million for the same quarter in 2006. Interest
expense decreased US$0.9 million due to lower borrowing costs on
the company's credit facility.

For the year, net sales totaled US$1.05 billion an increase of
US$73.6 million, or 7.5%, from 2006 net sales of US$982.2
million.  The increase was attributable to additional revenues
realized from price increases as well as higher volumes across
all the company's product categories.  The specialty businesses
followed by International expansion and complimentary seating
and storage products experienced the strongest growth in the
year.

Gross margins increased to 34.6% in 2007 compared to 32.5% in
2006.  Additional volume, better pricing, and moderating
inflation led to the increase.  Improved factory performance and
global sourcing initiatives also contributed to the increase.
The increase in gross margin came in spite of the further
appreciation in the Canadian Dollar.

Operating expenses for 2007 were US$222.9 million, or 21.1% of
sales, compared to US$202.1 million, or 20.6% of sales, for
2006.  Increased investment spending on growth initiatives
relating to new products and international expansion drove the
increase along with increased incentive payments as a result of
the higher sales and profits.  The acquisition of Edelman
Leather also impacted operating expense levels.

The company generated 2007 net income of US$71.4 million
compared to US$58.6 million in 2006.  Net income in 2007
includes the write-off of deferred financing fees totaling
US$0.7 million after tax as the company implemented the
refinancing of its old credit facility with a new US$500 million
revolving credit facility on June 29, 2007.

Other income/expense in 2007 included an approximate
US$4.2 million loss due to foreign currency translation and
US$1.2 million loss related to the write off of deferred
financing fees.  Other income/expense in 2006 included an
approximate US$563 thousand gain due to the foreign currency
translation, a US$703 thousand loss on interest rate
derivatives, and US$881 thousand gain in other miscellaneous
income.

Annual cash generated from operations in 2007 was
US$102.2 million, compared to US$77.5 million the year before.
Capital expenditures in 2007 totaled US$16.3 million compared to
US$13.4 million for 2006.  Investing activities in 2007 also
included US$70.8 million for the acquisition of Edelman Leather.
In addition, the Company repurchased approximately 2.3 million
shares of its stock for US$48.1 million during the year.  Also
during the year the Company had net borrowings of US$18.2
million primarily to finance the purchase of Edelman Leather and
repurchase shares.  The company also paid dividends of
US$21.7 million for the first three quarters of 2007, increasing
to US$0.12 per share in the fourth quarter of 2007.

Chief Financial Officer, Barry L. McCabe said, "During the
quarter we were able to close the acquisition of Edelman
Leather, increase our quarterly dividend and take advantage of
our current stock price by repurchasing 1.1 million shares for a
total repurchase of 2.261 million shares for the year.  With our
expanded bank facility, lowered leverage ratio and reduced
borrowing costs, Knoll enters 2008 in the strongest financial
position since our 2004 IPO and we are well positioned to take
advantage of opportunities to continue to reduce our shares
outstanding.  Accordingly, we are pleased to announce the
expansion of our share repurchase program by US$50 million."

       Expanded US$50 million Stock Repurchase Program

On Feb. 4, 2008, the Knoll Board of Directors approved a US$50
million expansion of the company's previously announced stock
repurchase program.  The expanded repurchase program does not
require the purchase of any minimum number of shares, but sets a
limit on the total amount spent on repurchases.  Before this
expansion, the company had approximately US$17 million remaining
under its US$50 million stock repurchase program announced in
February 2006.  Purchases under the repurchase program may be
made from time to time in the open market, through privately
negotiated transactions, or otherwise, and will depend on market
conditions and applicable securities laws.

                   First Quarter 2008 Outlook

The company stated that it expects first quarter 2008 revenue to
be in the US$258 - US$265 million range, an increase of 4.1%-
6.9% from the first quarter of 2007.

The company added that on Feb. 4, 2008, its Board of Directors
declared a quarterly cash dividend of US$0.12 per share payable
on March 31, 2008, to stockholders of record on March 14, 2008.

                        About Knoll Inc.

Headquartered in East Greenville, Pennsylvania, Knoll Inc.
(NYSE: KNL) -- http://www.knoll.com/-- designs and manufactures
branded office furniture products and textiles, serves clients
worldwide.  It distributes its products through a network of
more than 300 dealerships and 100 showrooms and regional
offices.  The company has locations in Argentina, Australia,
Bahamas, Cayman Islands, China, Colombia, Denmark, Finland,
Greece, Hong Kong, India, Indonesia, Japan, Korea, Malaysia,
Philippines, Poland, Portugal and Singapore, among others.

                         *     *     *

Knoll Inc. carries Moody's Investors Service's B1 Corporate
Family Rating and the company's US$200 million senior secured
revolver and US$250 million senior secured term loan carry
Moody's Ba2.  Moody's assigned an LGD2 rating to both loans,
suggesting note holders will experience a 27% loss in the event
of a default.


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


BRISTOW GROUP: Quarter Ended Dec. 31 Earnings Hike to US$20 Mln
---------------------------------------------------------------
Bristow Group Inc. reported financial results for its three and
nine-month ended Dec. 31, 2007.

The company reported net income of US$20.1 million, a 91%
increase from US$10.5 million for the December 2006 quarter.
Net income for the December 2007 quarter includes the loss of
US$6.2 million on the sale of our Grasso Production Management
business in November 2007, which is presented as discontinued
operations.
.
For the nine months ended Dec. 31, 2007, net income of
US$76.8 million increased 64% from US$46.8 million for the nine
months ended Dec. 31, 2006.  Net income for the nine months
ended Dec. 31, 2007, includes the loss of US$6.2 million on the
sale of our Grasso business in November 2007, which is presented
as discontinued operations.

                     Capital and Liquidity

   -- the Dec. 31, 2007 consolidated balance sheet reflected
      US$959.3 million in stockholders' investment and
      US$607.8 million of indebtedness.

   -- the company has US$315.3 million in cash and an undrawn
      US$100 million revolving credit facility.

   -- the company generated US$57.8 million of cash from
      operating activities, US$344.8 million in net proceeds
      from the issuance of 7 1/2% senior notes, US$23 million of
      cash from asset dispositions and US$22 million in net cash
      from the sale of Grasso during the nine months ended
      Dec. 31, 2007.

   -- the company used US$288.8 million for capital expenditures

   -- for aircraft -- and US$14.6 million for the acquisitions,
      net of cash acquired, of Bristow Academy and Vortex
      during the nine months ended Dec. 31, 2007.

   -- Aircraft purchase commitments totaled US$344.7 million for
      28 aircraft, with options totaling US$472.6 million for 34
      aircraft as of Dec. 31, 2007.

"We remain very pleased with our operational and financial
performance," William E. Chiles, president and chief executive
officer of Bristow Group Inc., said.  The delivery of new
aircraft well as rate increases in several operating regions
produced strong revenues and earnings performance in the
December quarter."

"We renegotiated and extended the last of our major contracts in
Nigeria at significantly better rates during the quarter, which
should result in improved operating margins for our West Africa
business unit and move us closer to meeting our return on
capital goal for this region. We also saw improved rates from
the North Sea," he added.

"We continued to invest in our fleet with the exercise of
options on eight additional aircraft, including five large- and
three medium-sized helicopters from Sikorsky and Eurocopter,"
Mr. Chiles continued.

"During the quarter we also completed the sale of our Grasso
Production Management business, which makes Bristow Group a pure
play in helicopter transportation services principally to the
offshore energy industry," Mr. Chiles ended.

                  About  Bristow Group Inc.

Headquartered in Houston, Texas, Bristow Group Inc. (NYSE:BRS)
-- http://www.bristowgroup.com/-- fka Offshore Logistics Inc.,
provides helicopter transportation services to the worldwide
offshore oil and gas industry with operations in the United
States Gulf of Mexico and the North Sea.  The company also has
operations, both directly and indirectly, in offshore oil and
gas producing regions of the world, including Australia, Brazil,
China, Mexico, Nigeria, Russia and Trinidad.  The company also
provides production management services for oil and gas
production facilities in the United States Gulf of Mexico.

                         *     *     *

Standard & Poor's Ratings Services placed Bristow Group Inc.'s
long-term corporate family and senior unsecured debt ratings at
'Ba2' in January 2006.  The ratings still hold today with a
negative outlook.


CHUVASHIA REPUBLIC: Moody's Holds Ba2 Rating with Stable Outlook
----------------------------------------------------------------
Moody's Investors Service affirmed the Republic of Chuvashia's
issuer rating of Ba2 (global scale, local currency).  The rating
outlook is stable.

At the same time, Moody's Interfax Rating Agency, which is
majority-owned by Moody's, has affirmed Chuvashia's Aa2.ru
national scale rating.

According to Moody's, the ratings are driven by increasing tax
revenue, underpinned by sustained economic growth, stable and
positive operating balances and a low debt burden.  The ratings
also reflect the considerable challenges facing Chuvashia,
including the growth of relatively rigid operating expenditure,
the significant infrastructure requirements and limited revenue
flexibility.

Chuvashia's tax revenue grew by 34% in 2006 and 37% in 2007
according to anticipated budget results, reflecting the
improving financials of local companies and growing personal
income of the republic's population.  Chuvashia recorded solid
and stable operating balances in 2006 (gross operating balance
or GOB was 18% of operating revenue) and is expected to report
GOB of 22% in 2007.  Moody's notes that Chuvashia still relies
upon federal equalisation transfers, which accounted for about
25% and 21% of total budget revenue in 2006-2007 accordingly.
However, in 2009-2010, these transfers - adjusted every three
years - will be lowered significantly under the current
equalisation methodology of the Russian Ministry of Finance,
which takes account of Chuvashia's increasing tax and non-tax
revenues.  Moody's notes that the rapid growth in public sector
wages and social benefits is exerting considerable pressure on
operating expenditure.

Chuvashia's debt burden remains low: total debt to operating
revenue ratio is estimated at 23% in 2007 compared to 20% in
2006.  The bulk of Chuvashia's direct debt is long-term rouble
bonds issued in recent years.  According to Chuvashia's three-
year budget, although new rouble bonds are to be issued, the
debt burden should remain moderate.  Moody's notes that
essential capital expenditure under the current programme of the
republic government to boost local road infrastructure and water
supply, coupled with limited tax revenue flexibility, could lead
to a further increase in the debt burden over the long term.

Chuvashia's ratings also reflect the application of Moody's
Joint-Default Analysis methodology for regional and local
governments, with a Baseline Credit Assessment of 12 (on a scale
of 1 to 21, where 1 represents the lowest credit risk), and a
low likelihood that the federal government would act to prevent
an imminent default by the region.  The assumed low likelihood
of extraordinary support reflects past instances of regional and
local government defaults and a federal government policy stance
that does not favour interventions to prevent defaults by lower-
tier governments on a timely basis.

Chuvashia is in the Volga Federal District and has a population
of 1.3 million and an area of 18,300 square kilometres.  The
region contributes 0.4% to Russia's gross domestic product.


GEO-INVEST LLC: Creditors Must File Claims by February 28
---------------------------------------------------------
Creditors of LLC Company Geo-Invest (TIN 2625026180) have until
Feb. 28, 2008, to submit proofs of claim to:

         G. Shirkin
         Insolvency Manager
         Office 317
         Serafimovicha Str. 58
         344002 Rostov-na-Donu
         Russia

The Arbitration Court of Stavropol commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A 63-113/05-S5, A63-5072/
07-S5-7.

The Court is located at:

         The Arbitration Court of Stavropol
         Mira Str. 4586
         Stavropol
         Russia

The Debtor can be reached at:

         LLC Company Geo-Invest
         Georgievsk
         Stavropol
         Russia


LAND LLC: Creditors Must File Claims by February 28
---------------------------------------------------
Creditors of LLC Land (TIN 6113014936) have until Feb. 28, 2008,
to submit proofs of claim to:

         M. Makhnev
         Temporary Insolvency Manager
         Nakhichevanskiy Per. 64
         344000 Rostov-na-Donu
         Russia

The Arbitration Court of Rostov will convene at 11:00 a.m. on
March 19, 2008, to hear the company's bankruptcy supervision
procedure.  The case is docketed under Case No. A53-21289/
2007-S1-30.

The Court is located at:

         The Arbitration Court of Rostov
         Stanislavskogo Str. 8a
         344008 Rostov-na-Donu
         Russia

The Debtor can be reached at:

         LLC Land
         Kagalnitskaya St. 34
         Rostov
         Russia


NARVA LLC: Krasnoyarsk Bankruptcy Hearing Slated for May 21
-----------------------------------------------------------
The Arbitration Court of Krasnoyarsk will convene on May 21,
2008, to hear the bankruptcy supervision procedure on LLC Narva.
The case is docketed under Case No. A33-15599/2007.

The Temporary Insolvency Manager is:

         D. Makhov
         Svobodnyj Pr. 60a
         Krasnoyarsk
         Russia

The Court is located at:

         The Arbitration Court of Krasnoyarsk
         Lenina Str. 143
         660021 Krasnoyarsk
         Russia

The Debtor can be reached at:

         LLC Narva
         426053 Krasnoyarsk
         Russia


OB’-FISH LLC: Asset Sale Slated for February 26
-----------------------------------------------
LLC OB’-Fish, will open a public auction for the company's
properties at 3:00 p.m. on Feb. 26, 2008, at:

         Gagarina Str. 65
         Khanty-Mansiysk
         Klhanty-Mansiyskiy-Yugra
         Tyumen
         Russia

The company has set a RUR3.7 million starting price for the
assets in auction.

Interested participants have to deposit an amount equivalent to
10% of the starting price.

Bidding documents must be submitted to:

         The Insolvency Manager and Bidding Organizer
         Gagarina Str. 65
         Khanty-Mansiysk
         KLhanty-Mansiyskiy-Yugra
         Tyumen
         Russia
         Tel: (34671) 2-92-65, 8-922-402-87-21

The Debtor can be reached at:

         LLC OB’-Fish
         Sovetskaya Str. 17b
         Polnovat
         Beloyarskiy
         628179 Khanty-Mansiyskiy-Yugra
         Russia


OMSK-BREAD-PROM: Creditors Must File Claims by February 26
----------------------------------------------------------
Creditors of OJSC Company Omsk-Bread-Prom (TIN 5504008657) have
until Feb. 26, 2006, to submit proofs of claim to:

         V. Evdokeevich
         Temporary Insolvency Manager
         K. Marksa Pr. 18/b
         644042 Omsk
         Russia

The Arbitration Court of Omsk will convene at 10:20 a.m on
June 3, 2008, to hear the company's bankruptcy supervision
procedure.  The case is docketed under Case No. A46-14860/2007.

The Debtor can be reached at:

         OJSC Company Omsk-Bread-Prom
         Lenina Str. 46
         644042 Omsk
         Russia


OMSK-STORY-MOST: Omsk Bankruptcy Hearing Slated for June 3
----------------------------------------------------------
The Arbitration Court of Omsk will convene on June 3, 2008, to
hear the bankruptcy supervision procedure on CJSC Omsk-Story-
Most–Mostootryad-63.  The case is docketed under Case No.
A46-15068/2007.

The Temporary Insolvency Manager is:

         V. Dobryshkin
         Office 166
         Lermontova Str. 127/1
         644001 Omsk
         Russia

The Debtor can be reached at:

         CJSC Omsk-Story-Most–Mostootryad-63
         Mostootrayd-63
         644074 Omsk
         Russia


TURILOVSKOE CJSC: Creditors Must File Claims by March 28
--------------------------------------------------------
Creditors of CJSC Turilovskoe have until March 28, 2008, to
submit proofs of claim to:

         A. Skorodumov
         Insolvency Manager
         Post User Box 6
         Shakhunya
         606910 Nizhniy Novgorod
         Russia

The Arbitration Court of Kostroma commenced bankruptcy
proceedings against the company after finding it insolvent.  The
case is docketed under Case No. A31-1933/2007-12.

The Debtor can be reached at:

         CJSC Turilovskoe
         Antropovskiy
         Neverovo
         157230 Kostroma
         Russia


=====================
S W I T Z E R L A N D
=====================


ARCUSWEAR JSC: Lucerne Court Starts Bankruptcy Proceedings
----------------------------------------------------------
The Bankruptcy Service of Luzern-Stadt in Lucerne commenced
bankruptcy proceedings against JSC Arcuswear on Dec. 21, 2007.

The Bankruptcy Service of Luzern-Stadt can be reached at:

         Bankruptcy Service of Luzern-Stadt
         6000 Lucerne 5
         Switzerland

The Debtor can be reached at:

         JSC Arcuswear
         Weystrasse 22
         6006 Lucerne
         Switzerland


CARROSSERIE ENZIRIED: Creditors Must File Claims by Feb. 15
-----------------------------------------------------------
Creditors of JSC Carrosserie Enziried have until Feb. 15, 2008,
to submit their claims to:

         JSC Marty Treuhand
         Liquidator
         Waldstatterstrasse 12
         6003 Lucerne
         Switzerland

The Debtor can be reached at:

         JSC Carrosserie Enziried
         Horw LU
         Switzerland


D. FLURI LLC: Creditors' Liquidation Claims Due by Feb. 15
----------------------------------------------------------
Creditors of LLC D. Fluri have until Feb. 15, 2008, to submit
their claims to:

         Daniel Fluri
         Oberlohn 1
         4616 Kappel SO
         Switzerland

The Debtor can be reached at:

         LLC D. Fluri
         Kappel SO
         Switzerland


ILI INTERNATIONAL: Lucerne Court Starts Bankruptcy Proceedings
--------------------------------------------------------------
The Bankruptcy Service of Luzern-Stadt in Lucerne commenced
bankruptcy proceedings against LLC ILI International
Weiterbildungszentrum on Jan. 7, 2008.

The Bankruptcy Service of Luzern-Stadt can be reached at:

         Bankruptcy Service of Luzern-Stadt
         6000 Lucerne 5
         Switzerland

The Debtor can be reached at:

         LLC ILI International Weiterbildungszentrum
         Theaterstrasse 13
         6002 Lucerne
         Switzerland


LISCO JSC: Creditors' Liquidation Claims Due by Feb. 15
-------------------------------------------------------
Creditors of JSC Lisco have until Feb. 15, 2008, to submit their
claims to:

         Richard J. Vollenweider
         Bauherren-Strasse 40
         8049 Zurich
         Switzerland

The Debtor can be reached at:

         JSC Lisco
         Zug
         Switzerland


SAMHABER ENGINEERING: Creditors Must File Claims by Feb. 15
-----------------------------------------------------------
Creditors of JSC Samhaber Engineering AG (SEAG) have until
Feb. 15, 2008, to submit their claims to:

         JSC Samhaber Engineering AG (SEAG)
         Gewerbestrasse 2
         4528 Zuchwil
         Wasseramt SO
         Switzerland


STETTLER HOLZ: Creditors' Liquidation Claims Due by Feb. 15
-----------------------------------------------------------
Creditors of LLC Stettler Holz have until Feb. 15, 2008, to
submit their claims to:

         Rudolf Stettler-Ledermann and Rudolf Stettler-Wenger
         Kreuzweg
         3616 Schwarzenegg (Oberlangenegg)
         Thun BE
         Switzerland

The Debtor can be reached at:

         LLC Stettler Holz
         Oberlangenegg
         Thun BE
         Switzerland


TRABAT JSC: Creditors' Liquidation Claims Due by Feb. 15
--------------------------------------------------------
Creditors of JSC Trabat have until Feb. 15, 2008, to submit
their claims to:

         JSC Trabat
         Rue des Pres 33
         2503 Biel/Bienne BE
         Switzerland


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


INTERSERVICE LLC: Proofs of Claim Filing Deadline Set Feb. 22
-------------------------------------------------------------
Creditors of LLC Interservice (code EDRPOU 31125027) have until
Feb. 22, 2008, to submit written proofs of claim to:

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

The Economic Court of Kiev commenced the bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
B11/443-07.

The Debtor can be reached at:

         LLC Interservice
         B. Hmelnitsky Str. 35
         Belaya Tserkov
         09100 Kiev
         Ukraine


MAXIMUM ALT: Creditors Must File Claims by February 21
------------------------------------------------------
Creditors of LLC Maximum Alt Ukraine (code EDRPOU 34569635) have
until Feb. 21, 2008, to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 15/912-b.

The Debtor can be reached at:

         LLC Maximum Alt Ukraine
         Krasnozvezdny Avenue 119
         Kiev
         Ukraine


NADEZHDA LLC: Proofs of Claim Filing Deadline Set February 21
-------------------------------------------------------------
Creditors of Agricultural LLC Nadezhda (code EDRPOU 31364269)
have until Feb. 21, 2008, to submit written proofs of claim to:

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

The Economic Court of Kiev commenced the bankruptcy supervision
procedure on the company.  The case is docketed under Case No.
B11/387-07.

The Debtor can be reached at:

         Agricultural LLC Nadezhda
         Mikhaylovka
         Tetiyev District
         Kiev
         Ukraine


RUTEL LLC: Creditors Must File Claims by February 21
----------------------------------------------------
Creditors of LLC Rutel (code EDRPOU 32613561) have until
Feb. 21, 2008, to submit written proofs of claim to:

         The Economic Court of Zaporozhje
         Shaumiana Str. 4
         69001 Zaporozhje
         Ukraine

The Economic Court of Zaporozhje commenced bankruptcy
proceedings against the company after finding it insolvent on
Jan. 10, 2008.  The case is docketed under Case No. 25/5/08.

The Debtor can be reached at:

         LLC Rutel
         Mayakovsky Str. 34
         Berdiansk
         71100 Zaporozhje
         Ukraine


SEVERGAS LLC: Creditors Must File Claims by February 22
-------------------------------------------------------
Creditors of LLC Severgas (code EDRPOU 30523005) have until
Feb. 22, 2008, to submit written proofs of claim to:

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

The Economic Court of Kiev commenced bankruptcy proceedings
against the company after finding it insolvent.  The case is
docketed under Case No. 15/594-b.

The Debtor can be reached at:

         LLC Severgas
         Kikvidze Str. 17/10
         01103 Kiev
         Ukraine


SIP