T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Friday, February 22, 2008, Vol. 9, No. 40 Headlines A U S T R I A ARMORSTONES KIESBODEN: Claims Registration Ends April 8 BAU–ABC: Claims Registration Period Ends March 3 BAUSERVICE ROSENAUER: Claims Registration Period Ends March 21 BIOCETAN ALTERNATIVENERGIE: Claims Registration Ends March 31 LOHRBACH TRANSPORT: Claims Registration Period Ends April 7 UNISON LLC: Claims Registration Period Ends March 8 B E L G I U M CHIQUITA BRANDS: Posts US$26 Mil. Net Loss in Qtr. Ended Dec. 31 SITEL WORLDWIDE: Weak Profitability Cues S&P to Cut Rating to B F I N L A N D SANMINA-SCI: Inks Assets Sale Agreement with Foxteq Holdings F R A N C E ARROW ELECTRONICS: Signs Agreement to Acquire LOGIX DELPHI CORP: Wants to Strike Non-Conforming Cure Objections DELPHI CORP: Cuts CEO R. O'Neal's Emergence Incentive to US$1MM G E R M A N Y AIR CENTER: Claims Registration Ends March 14 AUTOHAUS NEUMANN: Creditors Must File Claims by March 18 AUTOHAUS VOIGHT: Creditors Must File Claims by March 18 AUTOTEILE VERTRIEB: Claims Registration Period Ends March 3 BAUGESCHAFT TOSTLEBEN: Creditors Must File Claims by March 18 BAUUNTERNEHMEN JOSEF: Claims Registration Ends March 14 BFAD GMBH: Claims Registration Ends March 14 CONCEPT BETEILIGUNGSGESELLSCHAFT: Claims Period Ends March 7 COOLTEC KALTESYSTEME: Claims Registration Period Ends March 14 DACH-WAND-BAUTECHNIK: Claims Registration Period Ends March 10 DVBN BESCHAFFUNG: Claims Registration Period Ends March 10 ELVIR VOIGT: Creditors Must File Claims by March 18 ENERGY TEC: Claims Registration Period Ends March 14 ESB VERTRIEBS: Creditors Must File Claims by March 18 ESR VERTRIEBS: Creditors Must File Claims by March 18 F & P TREUHAND: Claims Registration Period Ends March 5 FGV FORTUNA: Claims Registration Perid Ends March 14 FRYE GMBH: Claims Registration Period Ends March 10 GALA BAU: Claims Registration Period Ends March 14 ISOTRONIK-SYSTEMS: Claims Registration Period Ends March 11 KEY BUSINESS: Claims Registration Period Ends March 14 KLOB GESELLSCHAFT: Claims Registration Period Ends March 14 KLOSTERTALER MERCHANDISING: Claims Registration Ends March 13 MONTI-MODEN GMBH: Claims Registration Period Ends March 10 RA FO: Claims Registration Ends March 13 RED LINE: Claims Registration Period Ends March 10 SIKRA GLEISBAU: Claims Registration Period Ends March 5 TAG TROCKEN: Claims Registration Ends March 13 VENTURE BETEILIGUNGS: Claims Registration Period Ends March 10 H U N G A R Y SUN MICROSYSTEMS: Partners with TSMC for UltraSPARC Processors SANMINA-SCI: Inks Assets Sale Agreement with Foxteq Holdings I R E L A N D ELAN CORP: Posts US$405 Million Net Loss for Year Ended 2007 I T A L Y ALITALIA SPA: Lazio Court Rejects Appeal to Cancel Sale Talks K A Z A K H S T A N AIKAR LLP: Creditors Must File Claims by March 21 BINDJAR LLP: Claims Deadline Slated for March 21 DOSTAR KURYLYS: Claims Filing Period Ends March 21 GEIS & K: Creditors' Claims Due on March 21 KASPY MUNAI: Claims Registration Ends March 21 KAZKOMMERTSBANK: Transfers Rep Office Assets to Tajikistan Unit NOVYE TECHNOLOGIYI: Creditors Must File Claims by March 21 RADIO SERVICE-S: Claims Deadline Slated for March 21 SYRBOYI LLP: Claims Filing Period Ends March 21 TRANS LINE: Creditors' Claims Due on March 21 K Y R G Y Z S T A N ALKOR LLC: Creditors Must File Claims by March 18 EURO STYLE: Claims Filing Period Ends March 18 SHOOLA LLC: Creditors' Meeting Slated for February 25 N E T H E R L A N D S CORPORATE EXPRESS: Moody's Says Staples Bid Won't Affect Rating KONINKLIJKE AHOLD: ICA Posts SEK2.6BB Operating Income in 2007 X5 RETAIL: Alexander Kosiyanenko Quits from Supervisory Board P O R T U G A L COMPANHIA SIDERURGICA: Companhia Vale to Resume Pellets Supply R U S S I A AGRO-KHIM-SERVICE: Tatarstan Court Hearing Slated for March 3 AGRO-KHIMIYA: Creditors Must File Claims by March 12 AMUR-INVEST-1: Creditors Must File Claims by March 12 COM-PAS CJSC: Bankruptcy Hearing Slated for May 20 COMBINE OF BUILDING: Asset Sale Slated for March 3 CONCERN OIL-GAS-STROY: Creditors Must File Claims by March 12 ETIRK OIL: Creditors Must File Claims by March 12 GEVIT-FORM: Tula Bankruptcy Hearing Slated for February 28 MOBILE TELESYSTEMS: EGM Elects New Board of Directors MOSCOW STARS: Fitch Holds BB Rating on Class B Notes RAIFFEISEN BANK: Moody's Puts Bank Financial Strength at D RED & BLACK: Fitch Affirms BB+ Rating on Class C Notes RUSSIAN MORTGAGE: Fitch Holds BB- Rating on Class C Notes SOBINBANK: Moody's Assigns B3/NP/E+/Baa2.ru Ratings S P A I N AURGI: Four Groups Express Interest to Acquire Assets S W I T Z E R L A N D ANABASIS JSC: Creditors' Liquidation Claims Due by March 12 CELLULAR SERVICE: Creditors' Liquidation Claims Due by March 15 CLEVER LOGISTICS: Basel-Country Court Starts Bankruptcy Process DELI-TOV JSC: Creditors' Liquidation Claims Due by March 17 EI-KHATIB AUTOHANDEL: Creditors Must File Claims by March 11 KNOWLEDGE TOOLS: Creditors' Liquidation Claims Due by March 11 RAUMCONCEPT LLC: Creditors' Liquidation Claims Due by March 17 S. & J. LLC: Aargau Court Starts Bankruptcy Proceedings SEKA EXPOBOX: Creditors' Liquidation Claims Due by March 11 VERITAS TREUHAND: Creditors' Liquidation Claims Due by March 11 U K R A I N E ASSEMBLY-PLESO LLC: Creditors Must File Claims by March 2 CITY OF LVIV: S&P Rates Proposed UAH200 Million Bond at B+ DUBRAVA LLC: Creditors Must File Claims by March 2 EXPOBUILDING-ENGINEERING LLC: Creditors' Claims Due March 2 FORUM PLUS: Creditors Must File Claims by March 2 FUND TECHNOLOGIES: Creditors Must File Claims by March 2 MEDIUM EMTES: Creditors Must File Claims by March 2 MTSIRI LLC: Claims Filing Deadline Set March 2 NIKOLAYEV AGRICULTURAL: Creditors Must File Claims by March 2 PALTUS LLC: Creditors Must File Claims by March 2 PIVDENNIY GOK: Dnipropetrovsk Court Restarts Bankruptcy Process TECHNOLOGICAL PROGRESS: Creditors Must File Claims by March 2 TRUST B.R.D.: Creditors Must File Claims by March 2 UKRAINE MORTGAGE: Fitch Holds Class B Notes' B+ Rating UKRSIBBANK JSCIB: Fitch Holds BB- Rating with Positive Outlook ZHYVA KRYNYTSIA: Creditors Must File Claims by March 2 U N I T E D K I N G D O M ACHIEVE MEDIA: Faces Winding Up Petition in High Court DOUGLAS SIGN: Brings In Liquidators from Menzies DURA AUTOMOTIVE: Backstop Rights Deal with Pacificor LLC Expires DURA AUTOMOTIVE: Wants Court to Approve Amended 2008 KMIP FUTUREMEDIA PLC: Auditors Express Going Concern Doubt GARRETT TATE: U.K. Regulator Wants to Liquidate Firm NORTHERN ROCK: Advises Customers to Seek New Loans with Rivals NORTHERN ROCK: UK Listing Authority Suspends Share Listing NORTHERN ROCK: Granite Not Covered by Nationalization Bill NORTHERN ROCK: Moody's Lowers Preference Shares' Rating to C PETROLEOS DE VENEZUELA: English Court Wants Freeze Compliance PETROLEOS DE VENEZUELA: May Sell 50% Stake in Chalmette Plant PETROLEOS DE VENEZUELA: Workers' Strike Halts Boscan Operations PETROLEOS DE VENEZUELA: Moody's Says Ratings Unaffected QUEBECOR WORLD: Court Extends CCAA Protection Until May 12 QUEBECOR WORLD: Administrators Close British Printing Plant QUEBECOR WORLD: New Pact with Clients to Yield US$75MM Annually REFCO INC: Ex-Finance Chief Robert Trosten Admits Fraud Charges TAYLOR TANNER: U.K. High Court Winds up Firm WHOLE FOODS: Earns US$39.1 Million in Quarter Ended January 20 * Q4 2007 England, Wales Company Winding Up Petitions Down 10% * BOOK REVIEW: Bankruptcy Investment: How to Profit from Distress ********* ============= A U S T R I A ============= ARMORSTONES KIESBODEN: Claims Registration Ends April 8 ------------------------------------------------------- Creditors owed money by LLC ARMORSTONES KIESBODEN (FN 234760k) have until April 8, 2008, to file written proofs of claim to court-appointed estate administrator Erich Allinger at: Mag. Erich Allinger Hauptplatz 11 2700 Wiener Neustadt Austria Tel: 02622/23228 Serie Fax: 02622/23 228 26 E-mail: e.allinger@schober.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 11:00 a.m. on April 22, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Wiener Neustadt Room 15 Wiener Neustadt Austria Headquartered in Felixdorf, Austria, the Debtor declared bankruptcy on Feb. 4, 2008 (Bankr. Case No. 11 S 9/08x). BAU–ABC: Claims Registration Period Ends March 3 ------------------------------------------------ Creditors owed money by LLC Bau – Abc (FN 211934v) have until March 3, 2008, to file written proofs of claim to court- appointed estate administrator Gerhard Haslbauer at: Dr. Gerhard Haslbauer Hauptplatz 7 4663 Laakirchen Austria Tel: 07613/5588 Fax: 07613/5588-15 E-mail: rechtsanwalt@haslbauer.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 11:20 a.m. on March 13, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Wels Hall 101 First Floor Maria Theresia Str. 12 Wels Austria Headquartered in Laakirchen, Austria, the Debtor declared bankruptcy on Feb. 1, 2008 (Bankr. Case No. 20 S 8/08i). BAUSERVICE ROSENAUER: Claims Registration Period Ends March 21 -------------------------------------------------------------- Creditors owed money by LLC Bauservice Rosenauer (FN 253487a) have until March 21, 2008, to file written proofs of claim to court-appointed estate administrator Susanne Poeltenstein- Rosenegger at: Mag. Susanne Poeltenstein-Rosenegger Schulerstrasse 18 1010 Vienna Austria Tel: 512 40 13 Fax: 512 40 13 22 E-mail: poeltenstein@anwaltsteam.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 11:30 a.m. on April 4, 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 Feb. 1, 2008 (Bankr. Case No. 28 S 20/08g). BIOCETAN ALTERNATIVENERGIE: Claims Registration Ends March 31 ------------------------------------------------------------- Creditors owed money by LLC bioCetan Alternativenergie (FN 255101z) have until March 31, 2008, to file written proofs of claim to court-appointed estate administrator Axel Reckenzaun at: Dr. Axel Reckenzaun Annenstr.10/I (Eingang St.Georgeng.1) 8020 Graz Austria Tel: 0316/713353 Fax: 0316/713353-30 E-mail: office@boehm-reckenzaun.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:00 a.m. on April 15, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Graz Room 205 Hall K Second Floor Graz Austria Headquartered in Fernitz bei Graz, Austria, the Debtor declared bankruptcy on Feb. 4, 2008 (Bankr. Case No. 40 S 5/08w). LOHRBACH TRANSPORT: Claims Registration Period Ends April 7 ----------------------------------------------------------- Creditors owed money by LLC Lohrbach Transport (FN 283543a) have until April 7, 2008, to file written proofs of claim to court- appointed estate administrator Wolfgang Pils at: Dr. Wolfgang Pils Graben 19 4020 Linz Austria Tel: 0732/773368 Fax: 0732/77336874 E-mail: ra.dr.pils@aon.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:00 a.m. on April 7, 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 Feb. 4, 2008 (Bankr. Case No. 12 S 4/08p). UNISON LLC: Claims Registration Period Ends March 8 --------------------------------------------------- Creditors owed money by LLC UNISON (FN 124363m) have until April 8, 2008, to file written proofs of claim to court- appointed estate administrator Guenther Grassner at: Dr. Guenther Grassner c/o Dr. Norbert Mooseder Suedtirolerstrasse 4-6 4020 Linz Austria Tel: 0732/77 08 15 Fax: 0732/77 08 16 E-mail: lawfirm@gltp.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 1:30 p.m. on April 22, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Steyr Hall 7 Second Floor Steyr Austria Headquartered in Wolfern, Austria, the Debtor declared bankruptcy on Feb. 1, 2008 (Bankr. Case No. 14 S 12/08z). Norbert Mooseder represents Dr. Grassner in the bankruptcy proceedings. ============= B E L G I U M ============= CHIQUITA BRANDS: Posts US$26 Mil. Net Loss in Qtr. Ended Dec. 31 ---------------------------------------------------------------- Chiquita Brands International Inc. released financial and operating results for the fourth quarter and full-year ended Dec. 31, 2007. The company reported a net loss of US$26 million including a charge of US$26 million related to the company's restructuring plan. In the year-ago period, the company reported a net loss of US$42 million including a US$25 million accrual related to the settlement of a U.S. Department of Justice investigation. The company's fourth quarter operating loss of US$11 million was on the favorable end of the estimated operating loss range of US$10-20 million provided in the company's preliminary selected results release on Jan. 28, 2008. For the full year, the company reported a net loss of US$49 million, compared to a net loss of US$96 million in 2006. "Our results reflect the proactive steps we took throughout the year to position us to transform and grow our business," said Fernando Aguirre, chairman and chief executive officer. "We have continued to focus on pricing in bananas and recovery in value-added salads to help offset persistent external cost challenges." "In 2008, we will be focused on maintaining our premium brands, improving North American profitability and completing the restructuring we implemented in October," Mr. Aguirre added. "We also will invest in the development of new value-added products to extend our brands, expand consumption and drive growth in higher-margin distribution channels and profitable geographies. We believe that these strategies will help us to achieve our vision of becoming the global leader in healthy, fresh and convenient foods." Business Restructuring The restructuring plan, disclosed in October 2007, is on track to generate new, sustainable cost savings of approximately US$60-80 million this year. The savings are being generated from a reduction in compensation related expenses, which is already implemented, and consolidation of processing and distribution facilities, which will be completed at the end of the first quarter 2008. The plan is designed to accelerate the company's long-term strategy to become the leader in healthy, fresh foods well as to improve profitability and efficiency through consolidation of operations and simplification of overhead structure. The restructuring will drive greater integration and efficiency across business units and geographies, resulting in one relationship manager for customers, a supply chain, and an innovation program with targeted priorities and better execution. As reported, the company incurred a US$26 million one-time charge in the fourth quarter 2007 related to severance costs and certain asset write-downs under the restructuring plan. Refinancing Progress The company also reported continued progress in a refinancing expected to lower interest expense, extend debt maturities and add significant additional covenant flexibility. After the consent solicitation from the holders of the company's 7-1/2% Senior Notes due 2014, the company issued US$200 million aggregate principal amount of 4.25% Convertible Senior Notes due 2016. Net proceeds of approximately US$194 million have been used to repay a portion of the outstanding amounts under the company's Term Loan C of its senior secured credit facility. The Notes are convertible, under certain circumstances, at an initial conversion rate of 44.5524 shares of common stock per US$1,000 original principal amount of Notes, equivalent to an initial conversion price of approximately US$22.45 per share of Chiquita common stock, subject to adjustment. This represents a premium of approximately 32.5% to the last reported sale price of Chiquita's common stock on Feb. 6, 2008 of US$16.94. The company has also entered into a fully underwritten commitment with Cooperatieve Centrale Raiffeisen - Boerenleenbank B.A., "Rabobank Nederland," New York branch to refinance the company's existing US$200 million revolving credit facility and the remaining portion of the company's Term Loan C. Pursuant to the terms of the commitment letter Rabobank has committed to provide to the company a six-year senior secured credit facility including a US$200 million revolving credit facility and a US$200 million term loan. The company expects to close the new facility by March 31, 2008. 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 International Inc. continues to carry Moody's Investors Service's B3 long term corporate family and Caa2 senior unsecured debt ratings which were placed on Nov. 6, 2006. The outlook is negative. SITEL WORLDWIDE: Weak Profitability Cues S&P to Cut Rating to B --------------------------------------------------------------- Standard & Poor's Ratings Services lowered its corporate credit rating on Sitel Worldwide Corp. to 'B' from 'B+'. The outlook is negative. The downgrade reflects Sitel's weaker-than-expected profitability and S&P's expectation that the company's performance in the next few quarters will provide little cushion to its bank loan covenants, even with an expected equity infusion this quarter. "The ratings reflect Sitel's challenge to achieve postacquisition profitability targets, its 2008 leverage covenant step-downs, and the highly fragmented and competitive nature of the business segment it operates in," said Standard & Poor's credit analyst Joseph Spence. "These factors are offset somewhat by Sitel's position as a leading provider in a growing industry, its diversified blue-chip customer list, and its global end markets." Sitel provides outsourced customer care services to a broad array of end markets through its customer contact centers and distribution warehouses located across the globe. Headquartered in Nashville, Tennessee, Sitel Worldwide Corp. -- http://www.sitel.com/-- is a customer care business process outsourcing vendor for voice services. It competes with larger multinational companies (i.e. EDS, Accenture, and IBM) and a host of like size companies (including Convergys, West, Teletech, and Sykes) in the customer care call center and business process outsourcing industry. The company has an approximate 80:20 ratio of on/near shore to off shore operating capacit and operates more than 155 locations in 27 countries, including Belgium, Brazil, Mexico, Ireland, the Philippines, among others. Sitel has pro forma LTM December 2007 revenues of approximately US$1.9 billion ============= F I N L A N D ============= SANMINA-SCI: Inks Assets Sale Agreement with Foxteq Holdings ------------------------------------------------------------ Sanmina-SCI Corporation signed a definitive agreement with Foxteq Holdings Inc., a member of Foxconn Technology Group, for the sale of certain assets of its personal computing business and associated logistics services located in Hungary, Mexico and the United States. Separately, the company has entered into a non-binding memorandum of understanding with Lenovo Group Limited to transition responsibility of its Monterrey, Mexico personal computing operation and to sell certain of its related assets to Lenovo. The company anticipates that the proceeds from the Foxteq transaction, along with the disposition of certain other related assets associated with, but not included in the Foxteq transaction, will be between US$80 and US$90 million, depending upon the book value of the assets at the time of closing. Other material terms related to the Foxteq transaction will be provided during the company's second quarter fiscal 2008 earnings conference call scheduled in April. The closing of the Foxteq transaction is subject to customary closing conditions, including regulatory approvals and is expected to close in the company's third fiscal quarter ending June 28, 2008. "This announcement is in line with our previous statements that we would sell or otherwise exit the personal computing business because the business is no longer integral to the company's long-term strategy," Jure Sola, chairman and chief executive officer of Sanmina-SCI, stated. "Since we disclosed our intentions to exit the personal computing business, several operating initiatives have allowed us to significantly reduce the net assets invested in this business," Mr. Sola concluded. "Accordingly, we anticipate that the financial benefits of these initiatives along with the total proceeds from these transactions and other related dispositions to be in excess of US$200 million." About Sanmina-SCI Headquartered in San Jose, California, Sanmina-SCI Corporation (NasdaqGS: SANM) -- http://www.sanmina-sci.com/-- is an Electronics Manufacturing Services (EMS) provider focused on delivering complete end-to-end manufacturing solutions to technology companies around the world. Service offerings include product design and engineering, test solutions, manufacturing, logistics and post-manufacturing repair/warranty services. The company has locations in Brazil, China, Ireland, Finland, Malaysia, Mexico and Singapore, among others. * * * Moody's Investor Service placed Sanmina-SCI Corp.'s long term corporate family and probability of default ratings at 'B1' in December 2007. The outlook is stable. =========== F R A N C E =========== ARROW ELECTRONICS: Signs Agreement to Acquire LOGIX --------------------------------------------------- Arrow Electronics Inc. has entered into exclusive negotiations to purchase 100% of the shares of LOGIX S.A., a subsidiary of Groupe OPEN. The transaction is subject to consultation with the LOGIX works council and any definitive agreement will be subject to EU competition clearance. Arrow anticipates the acquisition will be immediately accretive to earnings post integration. LOGIX is a leading value-added distributor of midrange servers, storage, and software in 11 European countries with annual gross revenues of approximately EUR500 million. Headquartered in Courbevoie, France, LOGIX has operations in France, Belgium, Luxembourg, Morocco, Poland, the Netherlands, Israel, Denmark, Finland, Sweden, and Norway, bringing Arrow Enterprise Computing Solutions’ geographic reach to 24 countries. With approximately 500 employees, LOGIX provides a full range of value-added distribution services, including demand creation, integration, technical training, financing, marketing and logistics, to over 6,500 partners. "With this acquisition, we continue the transformation of our ECS business. Two years ago we entered the European marketplace and this transaction represents the next step in our strategic expansion in this important region. With its experienced management team and highly talented sales, marketing and design professionals, LOGIX is well positioned to take advantage of the increasing demand for virtualization and state-of-the-art infrastructure solutions. LOGIX’s best-in-class portfolio of suppliers and focus on the fast growing mid-market will enable Arrow to strengthen relationships with key suppliers and increase our value proposition in the European marketplace," said William E. Mitchell, chairman, president and chief executive officer. "I am pleased to join Arrow Electronics in further accelerating its European transformation. The transaction will allow all employees, clients, and suppliers of LOGIX to benefit from greater scale and the efficiency of a leading worldwide player," said Laurent Sadoun, chairman and chief executive officer of LOGIX. About Arrow Electronics Headquartered in Melville, New York, Arrow Electronics Inc. -- http://www.arrow.com/-- provides products, services and solutions to industrial and commercial users of electronic components and computer products. Arrow serves as a supply channel partner for nearly 600 suppliers and more than 130,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of over 270 locations in 53 countries and territories. The company operates in France, Spain, Portugal, Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, Norway, Sweden, Italy, Germany, Austria, Switzerland, Belgium, the Netherlands, United Kingdom, Argentina, Brazil, Mexico, Australia, China, Hong Kong, Korea, Philippines and Singapore. * * * Arrow Electronics senior subordinated stock continues to carry Moody's Investors Service's Ba1 rating. The company's senior preferred stock is rated at Ba2. DELPHI CORP: Wants to Strike Non-Conforming Cure Objections ----------------------------------------------------------- Delphi Corp. and its debtor-affiliates ask the U.S. Bankruptcy Court for the Southern District of New York to strike, pursuant to Section 105(a) of the Bankruptcy Code and Rule 9010 of the Federal Rules of Bankruptcy Procedure: (a) returned cure amount notices that do not conform with the Cure Claim Procedures; and (b) objections that were filed for which no cure amount notices were returned. The Debtors are party to thousands of executory contracts, many of which are with the Debtors' trade suppliers. In accordance with the confirmed First Amended Joint Plan of Reorganization and the Court-approved procedures relating to the assumption of executory contracts, the Debtors embarked on a process to assume ongoing prepetition Material Supply Agreements. John Wm. Butler, Jr., Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, in Chicago, Illinois, relates that the Debtors served a total of 1,669 cure amount notices on contract counterparties stating their intent to assume, or assume and assign, the parties' contracts and to provide cure for the assumption of the contracts. The Notices gave each Counterparty, among other things, the right to elect to be paid the proposed cure amounts in cash or Plan currency, and described certain Court-approved procedures for the Counterparties to object to the assumption of their contracts or to the proposed cure amounts. The Cure Claim Procedures require the Counterparties to sign and return the original Cure Amount Notices served on them. In contravention of the specific instructions on the Cure Amount Notices, however, a number of parties-in-interest submitted nonconforming Cure Amount Notices to the Debtors. The Debtors received more than 100 nonconforming Cure Amount Notices. Certain purchasers of claims also executed and returned self- made forms designed to appear identical in form to the Court- approved notices served by the Debtors, Mr. Butler tells the Court. "In fact, certain of these self-made forms were returned by purchasers of claims even though no cure amounts were owed to the purported assignors." The Debtors, he points out, imprinted unique bar codes upon the original Cure Amount Notices to prevent the submission of self-made forms. The Debtors have also been inundated with requests to deviate from the Court-approved Cure Claim Procedures, Mr. Butler relates. He notes that in early January, the Ad Hoc Committee of Delphi Trade Claim Holders sought but failed to convince the Court to exempt them from certain provisions of the Cure Claim Procedures, including enabling their committee members to execute cure amount notices and directing the Debtors to make cure payments directly to their members instead of paying the underlying contract counterparties. Judge Drain held that the Trade Committee's request was contrary to the Cure Claim Procedures and interferes with the Debtors' relationships with their trade suppliers, which are important to the Debtors' ongoing businesses. Specifically, the Debtors wish to strike: * cure amount notices that include instructions to pay a party other than the counterparty; * cure amount notices that were executed by a third party (rather than the contract counterparty), which third party did not satisfy the requirements of Bankruptcy Rule 9010; * cure amount notices from parties who failed to return an executed original cure amount notice and instead returned a self-made form for which a related assumable contract exists or a copy of the cure amount notice; * cure amount notices from parties who failed to return an executed original cure amount notice for which no related assumable contract exists; * objections that were filed to cure by parties who failed to return the cure amount notice; and * cure amount notices that were returned after the 7:00 p.m. prevailing Eastern time deadline on Jan. 11, 2008. To the extent the Court grants the Debtors' request with respect to a specific party, the Debtors ask the Court to entitle the applicable counterparty to receive only the default cure election treatment or the Plan currency to be distributed to holders of allowed general unsecured claims in the cure amount listed in the cure amount notice. A list of the Debtors' proposed cure amounts is available for free at: http://bankrupt.com/misc/Delphi_PlanCures.pdf Cure & Assumption Objections On Jan. 29, 2008, the Debtors delivered to the Court a list of proposed cures for the assumption and assignment of certain executory contracts as provided in the confirmed First Amended Plan and the First Amended Disclosure Statement. A number of parties-in-interest complain that the proposed cures for the assumption of their contracts are understated. Several objectors assert that they have not been given adequate assurance of any proposed assignee's performance under the Assumed Contracts. A dozen objectors assert that they should be paid these cures: Debtors' Objector's Proposed Proposed Cure Objector Cure Amt. Cure Amt. ------------- --------- ---------- Ambrake Corp. US$113,072 US$347,716 Citation Corp., et al. 577,482 595,681 Furukawa Electric Company Ltd. 31,308 58,992 Furukawa Electric North America APD 2,664,471 2,832,655 MacArthur Corp. 18,074 38,708 Magneti Marelli Powertrain USA Inc. - 29,435 Master Automatic, Inc. - 7,613 McGill Manufacturing Company Inc. - 36,493 Metal-Matic Inc. 43,080 86,009 PBR Columbia LLC - 195,469 Quasar Industries, Inc. - 528,714 Tinnerman Palnut Engineered Product 7,229 271,401 SKF USA Inc. contends that it is entitled to payment in full and in cash of all outstanding postpetition invoices under its contracts. SKF USA also points out that certain of its contracts have expired and are, thus, no longer executory contracts that can be assumed. United Plastics Group De Mexico, S. De R.L. De C.V., relates that its books and records do not show a contract with the account number ascribed by the Debtors. Accordingly, UPG Mexico has no way of determining whether or not the Debtors' proposed zero cure amount for the alleged UPG Contract is correct. UPG Mexico asserts that it is owed no less than US$136,482 under its agreements with Delphi Automotive Systems LLC. Barnes Group Inc., Daewoo International Corp., DGC-Plastic Molding Inc., Freudenber-NOK General Partnership, and Hayes Lemmerz International, Inc., relate that they have not yet completed their review of the Assumed Contracts. Barnes objects to the proposed cures for its contracts to the extent the Debtors' cure obligations are limited to prepetition amounts. Furukawa relates that the Debtors have not provided it with sufficient information to identify two of the Assumed Contracts, thus, it is unable to verify whether the proposed cures are correct. AT&T Corp. and XM Satellite Radio Inc. note that the First Amended Plan provides for the assumption of all contracts not specifically rejected by the Debtors. The Debtors have not rejected, or proposed to reject, the parties' executory contracts. AT&T and XM Satellite assert that the Debtors must cure all defaults under their contracts before those contracts may be assumed and assigned. According to AT&T, the Debtors owe it US$8,255,577 under the parties' contracts. XM Satellite asserts that US$1,017,448 is outstanding under its contracts with the Debtors. 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; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) * * * As previously reported in the Troubled Company Reporter-Europe, Moody's Investors Service assigned ratings to Delphi Corporation for the company's financing for emergence from Chapter 11 bankruptcy protection: Corporate Family Rating of (P)B2; US$3.7 billion of first lien term loans, (P)Ba3; and US$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. The outlook is stable. Standard & Poor's Ratings Services in the meantime said 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 US$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 US$825 million senior secured second-lien term loan. DELPHI CORP: Cuts CEO R. O'Neal's Emergence Incentive to US$1MM --------------------------------------------------------------- As disclosed in a 10-K filing with the U.S. Securities and Exchange Commission, Delphi Corp. and its debtor-affiliates slashed the bonus payable to CEO Rodney O'Neal upon the company's emergence from bankruptcy protection, from US$5.3 million to US$1 million. Aside from receiving an emergence cash award value of US$1,011,621, Mr. O'Neal will obtain an emergence equity award valued at US$10,500,000. As reported in the Troubled Company Reporter-Europe on Jan. 25, 2008, the Honorable Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York said he will approve the Debtors' First Amended Joint Plan of Reorganization on the condition that the total payout of cash bonuses to top executives is reduced. "I am prepared to enter the confirmation order, provided the management compensation plan is changed," Judge Drain said at a confirmation hearing. The Court wanted the bonus for Delphi's officers reduced to US$16.5 million in the aggregate from the US$87.9 million that Delphi had proposed to award to 500 managers upon emergence. But the United Auto Workers and the International Union of Electronic Workers-Communications Workers of America objected to the payments, citing, among other things, that while unionized Delphi employees suffered pay-cuts, the managers, who are already adequately compensated, are given generous bonuses. The management compensation plan sought to grant an US$8.3 million "performance payment" to Executive Chairman Robert Miller; and a US$5.3 million cash emergence payment to Mr. O'Neal. 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; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) * * * As previously reported in the Troubled Company Reporter-Europe, Moody's Investors Service assigned ratings to Delphi Corporation for the company's financing for emergence from Chapter 11 bankruptcy protection: Corporate Family Rating of (P)B2; US$3.7 billion of first lien term loans, (P)Ba3; and US$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. The outlook is stable. Standard & Poor's Ratings Services in the meantime said 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 US$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 US$825 million senior secured second-lien term loan. ============= G E R M A N Y ============= AIR CENTER: Claims Registration Ends March 14 --------------------------------------------- Creditors of Air Center Nord GmbH have until March 14, 2008 to register their claims with court-appointed insolvency manager Peter-Alexander Borchardt. 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 Hamburg Meeting Hall B405 Fourth Floor Sievkingplatz 1 20355 Hamburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Peter-Alexander Borchardt Deichstrasse 1 20459 Hamburg Germany The District Court of Hamburg opened bankruptcy proceedings against Air Center Nord GmbH on Jan. 15, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Air Center Nord GmbH Attn: Gerhard Anders, Manager Reyesweg 8 22081 Hamburg Germany AUTOHAUS NEUMANN: Creditors Must File Claims by March 18 -------------------------------------------------------- Creditors of Autohaus Neumann GmbH & Co. Kommanditgesellschaft have until March 18, 2008, to register their claims with court- appointed insolvency manager Norbert Westhoff. Creditors and other interested parties are encouraged to attend the meeting at 9:25 a.m. on April 8, 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: Norbert Westhoff Adenauerplatz 4 33602 Bielefeld Germany Tel: 0521/ 914140 Fax: +4952191414884 The District Court of Bielefeld opened bankruptcy proceedings against Autohaus Neumann GmbH & Co. Kommanditgesellschaft on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Autohaus Neumann GmbH & Co. Kommanditgesellschaft Carl-Severing-Str. 116 33649 Bielefeld Germany AUTOHAUS VOIGHT: Creditors Must File Claims by March 18 ------------------------------------------------------- Creditors of Autohaus Voigt GmbH have until March 18, 2008, to register their claims with court-appointed insolvency manager Winfried Andres. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on April 2, 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: Winfried Andres Heinrich-Held-Str. 16 45133 Essen Germany The District Court of Essen opened bankruptcy proceedings against Autohaus Voigt GmbHon Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Autohaus Voigt GmbH Wanner Str. 47-53 45888 Gelsenkirchen Germany AUTOTEILE VERTRIEB: Claims Registration Period Ends March 3 ----------------------------------------------------------- Creditors of AV GmbH Autoteile Vertrieb have until March 3, 2008, to register their claims with court-appointed insolvency manager Dr. Helmuth Liesegang. Creditors and other interested parties are encouraged to attend the meeting at 9:20 a.m. on March, 28, 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 Wuppertal Meeting Room A234 Second Floor Isle 2 42103 Wuppertal Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Helmuth Liesegang Briller Strasse 2 42103 Wuppertal Germany Tel: 0202/389060 Fax: 0202/3890622 The District Court of Wuppertal opened bankruptcy proceedings against AV GmbH Autoteile Vertrieb on Feb. 1, 2008ce. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: AV GmbH Autoteile Vertrieb Schimmelbusch Str. 31 40699 Erkrath Germany BAUGESCHAFT TOSTLEBEN: Creditors Must File Claims by March 18 ------------------------------------------------------------- Creditors of Baugeschaft Tostleben GmbH have until March 18, 2008, to register their claims with court-appointed insolvency manager Prof. Rattunde. Creditors and other interested parties are encouraged to attend the meeting at 10:05 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 Gera Hall 317 Rudolf-Diener-Str. 1 Gera 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: Prof. Rattunde Kurfuerstendamm 26a 10719 Berlin Germany The District Court of Gera opened bankruptcy proceedings against Baugeschaft Tostleben GmbH on Jan. 22, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Baugeschaft Tostleben GmbH Attn: Uwe Davids, Manager Am Plan 30 15831 Grossbeeren Germany BAUUNTERNEHMEN JOSEF: Claims Registration Ends March 14 ------------------------------------------------------- Creditors of Bauunternehmen Josef Geers GmbH have until March 14, 2008 to register their claims with court-appointed insolvency manager Frank W. Stroot. Creditors and other interested parties are encouraged to attend the meeting at 10:00 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 Bersenbrueck Hall E 11 Main Building Stiftshof 8 49593 Bersenbrueck 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: Frank W. Stroot Sutthauser Strasse 285 49080 Osnabrueck Germany Tel: 0541/7600 75 70 Fax: 0541/7600 75 99 E-mail: infobpl-recht.de Web site: http://www.bpl-recht.de/ The District Court of Bersenbrueck opened bankruptcy proceedings against Bauunternehmen Josef Geers GmbH on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Bauunternehmen Josef Geers GmbH Attn: Josef Geers, Manager Larchenstrasse 15 49586 Merzen Germany BFAD GMBH: Claims Registration Ends March 14 -------------------------------------------- Creditors of BFAD GmbH & Co KG have until March 14, 2008 to register their claims with court-appointed insolvency manager Dr. Uwe Hahn. Creditors and other interested parties are encouraged to attend the meeting at 11:00 a.m. on April 8, 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 Konstanz Hall 102 First Floor Gerichtstrasse 9 78462 Konstanz Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Uwe Hahn Scheffelstr. 15 78224 Singen England The District Court of Konstanz opened bankruptcy proceedings against BFAD GmbH & Co KG on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: BFAD GmbH & Co KG Attn: Armin Kehl, Manager Maggistr. 7 78224 Singen Germany CONCEPT BETEILIGUNGSGESELLSCHAFT: Claims Period Ends March 7 ------------------------------------------------------------ Creditors of Concept Beteiligungsgesellschaft mbH have until March 7, 2008 to register their claims with court-appointed insolvency manager Dr. Mark Zeuner. Creditors and other interested parties are encouraged to attend the meeting at 9:45 a.m. on April 14, 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 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. Mark Zeuner Beethovenstr. 13 19053 Schwerin Germany The District Court of Schwerin opened bankruptcy proceedings against Concept Beteiligungsgesellschaft mbH on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Concept Beteiligungsgesellschaft mbH Ringstrasse 9 19258 Boizenburg Germany COOLTEC KALTESYSTEME: Claims Registration Period Ends March 14 -------------------------------------------------------------- Creditors of Cooltec Kaltesysteme GmbH & Co. KG have until March 14, 2008, to register their claims with court-appointed insolvency manager Peter Houben. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on April 2, 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 Moenchengladbach Meeting Hall A 14 Ground Floor Hohenzollernstr. 157 41061 Moenchengladbach Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Peter Houben Sternstrasse 58 40479 Duesseldorf Germany Tel: 0211/491440 Fax: +492114914461 The District Court of Moenchengladbach opened bankruptcy proceedings against Cooltec Kaltesysteme GmbH & Co. KG on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Cooltec Kaltesysteme GmbH & Co. KG Willicher Damm 133 41066 Moenchengladbach Germany DACH-WAND-BAUTECHNIK: Claims Registration Period Ends March 10 -------------------------------------------------------------- Creditors of Dach-Wand-Bautechnik GmbH have until March 10, 2008, to register their claims with court-appointed insolvency manager Dr. Jan Markus Plathner. Creditors and other interested parties are encouraged to attend the meeting at 9:20 a.m. on April 9, 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 Darmstadt Hall 4.312 Fourth Floor Building D Mathildenplatz 15 64283 Darmstadt 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. Jan Markus Plathner Lyoner Strasse 14 60528 Frankfurt Germany Tel: 069/962334-0 Fax: 069/962334-22 E-mail: m.plathner@brinkmann-partner.de The District Court of Darmstadt opened bankruptcy proceedings against Dach-Wand-Bautechnik GmbH on Feb. 2, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Dach-Wand-Bautechnik GmbH Nordendstrasse 82-84 64546 Moerfelden-Walldorf Germany DVBN BESCHAFFUNG: Claims Registration Period Ends March 10 ---------------------------------------------------------- Creditors of DVBN Beschaffung GmbH have until March 10, 2008 to register their claims with court-appointed insolvency manager Dr. Axel Kulas. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on April 3, 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 Stuttgart Room 178 Hauffstr. 5 70190 Stuttgart Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Axel Kulas Gansheidestr. 43 70184 Stuttgart Germany Tel: 0711/70 70 75 80 Fax: 0711/70 70 75 88 ELVIR VOIGT: Creditors Must File Claims by March 18 --------------------------------------------------- Creditors of Elvir Voigt GmbH & Co. KG have until March 18, 2008, to register their claims with court-appointed insolvency manager Winfried Andres. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on April 2, 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 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: Winfried Andres Heinrich-Held-Str. 16 45133 Essen Germany The District Court of Essen opened bankruptcy proceedings against Elvir Voigt GmbH & Co. KG on Feb. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Elvir Voigt GmbH & Co. KG Wanner Str. 47 45888 Gelsenkirchen Germany ENERGY TEC: Claims Registration Period Ends March 14 ---------------------------------------------------- Creditors of ENERGY TEC Beratungs- und Handelsgesellschaft mbH have until March 14, 2008, to register their claims with court- appointed insolvency manager Andreas Franz. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on April 14, 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 Franz Steinstrasse 26 19053 Schwerin Germany The District Court of Schwerin opened bankruptcy proceedings against ENERGY TEC Beratungs- und Handelsgesellschaft mbH on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: ENERGY TEC Beratungs- und Handelsgesellschaft mbH Attn: Eckhard Korn, Manager Ellerried 5 19061 Schwerin Germany ESB VERTRIEBS: Creditors Must File Claims by March 18 ------------------------------------------------------ Creditors of ESB Vertriebs- und Produktions-GmbH & Co. KG have until March 18, 2008, to register their claims with court- appointed insolvency manager Joerg Switala. Creditors and other interested parties are encouraged to attend the meeting at 2:00 p.m. on April 8, 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 Oldenburg Meeting hall Second Floor Elisabethstrasse 6 26135 Oldenburg 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: Joerg Switala Uhlandstrasse 7 26169 Friesoythe Germany The District Court of Oldenburg opened bankruptcy proceedings against ESB Vertriebs- und Produktions-GmbH & Co. KG on Feb. 4, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: ESB Vertriebs- und Produktions-GmbH & Co. KG Oldenburger Strasse 18 26188 Edewecht Germany Attn: Joerg Switala, Manager Uhlandstrasse 7 26169 Friesoythe Germany ESR VERTRIEBS: Creditors Must File Claims by March 18 ------------------------------------------------------ Creditors of ESR Vertriebs- und Produktions-GmbH & Co. KG have until March 18, 2008, to register their claims with court- appointed insolvency manager Joerg Switala. Creditors and other interested parties are encouraged to attend the meeting at 2:20 p.m. on April 8, 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 Oldenburg Meeting hall Second Floor Elisabethstrasse 6 26135 Oldenburg 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: Joerg Switala Uhlandstrasse 7 26169 Friesoythe Germany The District Court of Oldenburg opened bankruptcy proceedings against ESR Vertriebs- und Produktions-GmbH & Co. KG on Feb. 4, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: ESR Vertriebs- und Produktions-GmbH & Co. KG Oldenburger Strasse 18 26188 Edewecht Germany Attn: Joerg Switala, Manager Uhlandstrasse 7 26169 Friesoythe Germany F & P TREUHAND: Claims Registration Period Ends March 5 ------------------------------------------------------- Creditors of F & P Treuhand Steuerberatungsgesellschaft mbH have until March 5, 2008, to register their claims with court- appointed insolvency manager Dr. Hubert Ampferl. Creditors and other interested parties are encouraged to attend the meeting at 10:45 a.m. on April 3, 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 Nuernberg Meeting Hall 152/I Flaschenhofstr. 35 Nuernberg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Hubert Ampferl Stahlstr. 17 90411 Nuernberg Germany Tel: 0911/951285-0 Fax: 0911/951285-10 The District Court of Nuernberg opened bankruptcy proceedings against F & P Treuhand Steuerberatungsgesellschaft mbH on Feb. 5, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: F & P Treuhand Steuerberatungsgesellschaft mbH Attn: Beate Fischer, Manager Marientorgraben 13 90402 Nuernberg Germany FGV FORTUNA: Claims Registration Perid Ends March 14 ---------------------------------------------------- Creditors of FGV "FORTUNA" Grundstuecks-Verwaltungsgesellschaft Niendorf mbH have until March 14, 2008, to register their claims with court-appointed insolvency manager Peter-Alexander Borchardt. Creditors and other interested parties are encouraged to attend the meeting at 10:10 a.m. on April 17, 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 Hamburg Hall B 405 Fourth Floor Annex Civil Justice Bldg. Sievkingplatz 1 20355 Hamburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Peter-Alexander Borchardt Deichstrasse 1 20459 Hamburg Germany The District Court of Hamburg opened bankruptcy proceedings against FGV "FORTUNA" Grundstuecks-Verwaltungsgesellschaft Niendorf mbH on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: FGV "FORTUNA" Grundstuecks- Verwaltungsgesellschaft Niendorf mbH Attn: Joern Eckermann and Manfred Gabriel, Managers Brookdeich 14 21029 Hamburg Germany FRYE GMBH: Claims Registration Period Ends March 10 --------------------------------------------------- Creditors of Frye GmbH Internationale Spedition have until March 10, 2008, to register their claims with court-appointed insolvency manager Dr. Dirk Rueffert. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on April 14, 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 Osnabrueck Hall N 301 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: Dr. Dirk Rueffert Stahlwerksweg 10b 49084 Osnabrueck Germany Tel: 0541/7607070 Fax: 0541/7607071 E-mail: info@rueffert-rechtsanwalte.de The District Court of Osnabrueck opened bankruptcy proceedings against Frye GmbH Internationale Spedition on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Frye GmbH Internationale Spedition Maschweg 25 49324 Melle Germany GALA BAU: Claims Registration Period Ends March 14 -------------------------------------------------- Creditors of GALA Bau van Heerde GmbH have until March 14, 2008, to register their claims with court-appointed insolvency manager Justus Schneidewind. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on April 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 Cottbus Hall 313 Gerichtsplatz 2 03046 Cottbus Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Justus Schneidewind Behlertstrasse 28 a 14469 Potsdam Germany The District Court of Cottbus opened bankruptcy proceedings against GALA Bau van Heerde GmbH on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: GALA Bau van Heerde GmbH Herzberger Strasse 06 04916 Schoenewalde Germany ISOTRONIK-SYSTEMS: Claims Registration Period Ends March 11 ----------------------------------------------------------- Creditors of isotronik-systems GmbH have until March 11, 2008, to register their claims with court-appointed insolvency manager Sylvia Wille. Creditors and other interested parties are encouraged to attend the meeting 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 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: Sylvia Wille Nansenstrasse 7 09116 Chemnitz Tel: (0371) 400 440 Fax: (0371) 400 4410 E-mail: Info@wir-chemnitz.de The District Court of Chemnitz opened bankruptcy proceedings against isotronik-systems GmbH on Jan. 31, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: isotronik-systems GmbH Attn: Thomas Waldheim, Manager August-Bebel-Str. 15 09221 Neukirchen Germany KEY BUSINESS: Claims Registration Period Ends March 14 ------------------------------------------------------ Creditors of KEY Business Solutions GmbH have until March 14, 2008, to register their claims with court-appointed insolvency manager Tjark Thies. Creditors and other interested parties are encouraged to attend the meeting at 9:50 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 Hamburg Hall B 405 Fourth Floor Annex Civil Justice Bldg. Sievkingplatz 1 20355 Hamburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Tjark Thies Domstrasse 15 20095 Hamburg Germany The District Court of Hamburg opened bankruptcy proceedings against KEY Business Solutions GmbH on Feb. 5, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: KEY Business Solutions GmbH Elbchaussee 1 22765 Hamburg Germany KLOB GESELLSCHAFT: Claims Registration Period Ends March 14 ----------------------------------------------------------- Creditors of KLOB Gesellschaft fuer Leasing und Unternehmensberatung GmbH have until March 14, 2008, to register their claims with court-appointed insolvency manager Christian Heintze. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on April 25, 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 Dresden Hall D131 Olbrichtplatz 1 01099 Dresden Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Christian Heintze Kesselsdorfer Strasse 14 01159 Dresden Germany E-mail: www.brockdorff.net The District Court of Dresden opened bankruptcy proceedings against KLOB Gesellschaft fuer Leasing und Unternehmensberatung GmbH on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: KLOB Gesellschaft fuer Leasing und Unternehmensberatung GmbH Attn: Klaus-Peter Bretschneider, Manager Grossenhainer Strasse 101b 01127 Dresden Germany KLOSTERTALER MERCHANDISING: Claims Registration Ends March 13 ------------------------------------------------------------- Creditors of Klostertaler Merchandising GmbH have until March 13, 2008 to register their claims with court-appointed insolvency manager Mathias Dorn. Creditors and other interested parties are encouraged to attend the meeting at 9:10 a.m. on April 3, 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 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: Mathias Dorn Allgauer Strasse 1 87435 Kempten Germany Tel: (0831) 5800434 Fax: (0831) 5800464 The District Court of Kempten opened bankruptcy proceedings against Klostertaler Merchandising GmbH on Feb. 6, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Klostertaler Merchandising GmbH Bauerlinshalde 26 88131 Lindau Germany MONTI-MODEN GMBH: Claims Registration Period Ends March 10 ---------------------------------------------------------- Creditors of Monti-Moden GmbH have until March 10, 2008, to register their claims with court-appointed insolvency manager Georg F. Kreplin. Creditors and other interested parties are encouraged to attend the meeting at 1:00 p.m. on March 27, 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: Georg F. Kreplin Limbecker Platz 1 45127 Essen Germany The District Court of Essen opened bankruptcy proceedings against Monti-Moden GmbH on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Monti-Moden GmbH Christophstr. 2 45130 Essen Germany RA FO: Claims Registration Ends March 13 ---------------------------------------- Creditors of RA FO ZU GmbH have until March 13, 2008 to register their claims with court-appointed insolvency manager Helmut Gattermann. Creditors and other interested parties are encouraged to attend the meeting at 10:25 a.m. on April 10, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Neumuenster Hall 0.31 Law Courts Boostedter Strasse 26 Neumuenster Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Helmut Gattermann Strassenbahnring 3 20251 Hamburg Germany The District Court of Neumuenster opened bankruptcy proceedings against RA FO ZU GmbH on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: RA FO ZU GmbH Schirnauer See 5 24790 Rade Germany RED LINE: Claims Registration Period Ends March 10 -------------------------------------------------- Creditors of Red Line Graphic Agentur fuer Werbung und Verkaufsfoerderung GmbH have until March 10, 2008, to register their claims with court-appointed insolvency manager Dr. Jens M. Schmittmann. 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 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: Dr. Jens M. Schmittmann Zweigertstrasse 28-30 45130 Essen Germany The District Court of Essen opened bankruptcy proceedings against Red Line Graphic Agentur fuer Werbung und Verkaufsfoerderung GmbH on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Red Line Graphic Agentur fuer Werbung und Verkaufsfoerderung GmbH Stauderstr. 88 45326 Essen Germany SIKRA GLEISBAU: Claims Registration Period Ends March 5 ------------------------------------------------------- Creditors of SIKRA Gleisbau-Sicherung GmbH have until March 5, 2008 to register their claims with court-appointed insolvency manager Axel Schwentker. Creditors and other interested parties are encouraged to attend the meeting at 10:30 a.m. on April 16, 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 Duisburg Hall C315 Kardinal-Galen-Strasse 124-132 47058 Duisburg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Axel Schwentker Lindnerstrasse 165 46149 Oberhausen Germany The District Court of Duisburg opened bankruptcy proceedings against SIKRA Gleisbau-Sicherung GmbH on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: SIKRA Gleisbau-Sicherung GmbH Attn: Horst Wunderlich, Manager Bonmannstr. 50 46049 Oberhausen Germany TAG TROCKEN: Claims Registration Ends March 13 ---------------------------------------------- Creditors of TAG Trocken- und Akustikbau Poettgen GmbH have until March 13, 2008 to register their claims with court- appointed insolvency manager Dr. Axel Kampmann. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on April 17, 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 Arnsberg Meeting Hall 328 Eichholzstr. 4 59821 Arnsberg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Dr. Axel Kampmann Goethestrasse 24 59755 Arnsberg Germany The District Court of Arnsberg opened bankruptcy proceedings against TAG Trocken- und Akustikbau Poettgen GmbH on Feb. 4, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: TAG Trocken- und Akustikbau Poettgen GmbH Langel 4 59872 Meschede Germany Attn: Uwe Disselhoff, Manager Grafenstrasse 97 a 59821 Arnsberg Germany VENTURE BETEILIGUNGS: Claims Registration Period Ends March 10 -------------------------------------------------------------- Creditors of Venture Beteiligungs GmbH have until March 10, 2008, to register their claims with court-appointed insolvency manager Karl-Dieter Sommerfeld. Creditors and other interested parties are encouraged to attend the meeting at 9:45 a.m. on April 17, 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 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: Karl-Dieter Sommerfeld Hammerweg 3 51766 Engelskirchen Germany The District Court of Cologne opened bankruptcy proceedings against Venture Beteiligungs GmbH on Jan. 23, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Venture Beteiligungs GmbH Ulenbroich 27 40885 Ratingen Germany ============= H U N G A R Y ============= SUN MICROSYSTEMS: Partners with TSMC for UltraSPARC Processors -------------------------------------------------------------- Sun Microsystems Inc. has selected Taiwan Semiconductor Manufacturing Company as its foundry partner for processors based on 45-nanometer geometry as well as future generations. Sun partner Texas Instruments will continue to test and package the 45-nanometer processors. "TSMC gives us leading process technology coupled with the economics scale of high volume and lower cost," said Dr. David Yen, Sun's executive vice president, Microelectronics. "TSMC is already fully engaged with engineers from both Sun and TI as we make this transition as seamless and as fast as possible," said Sridhar Vajapey, VP, Technology, Validation and Test, who heads the Sun team that selected TSMC. "TSMC, working with Sun Microelectronics as their foundry partner together with Texas Instruments, on this industry- leading technology is a tremendous synergy of strengths," said Jack Sun, vice president of R&D at TSMC. "This collaboration brings together all the ingredients to successfully design, test and manufacture some of the most complex chips in the world on TSMC's CPU-grade manufacturing process." "TI has had the pleasure of being a strategic partner with Sun for almost two decades and we look forward to working with TSMC to provide turnkey backend support for Sun's SPARC product roadmap," Hunter Ward, TI VP & General Mgr - Sun Business Unit. Driving OpenSPARC(TM) Adoption As part of the announcement, both Sun and TSMC will collaborate to expand Sun's OpenSPARC program. In the first phase of the program the two companies will work together to expand the university outreach program in Taiwan. In addition to its existing university outreach program, TSMC has a large fabless customer base and a substantial number of large IP partners that will help expand OpenSPARC platform adoption. Through the OpenSPARC program, Sun has established six major universities as OpenSPARC Technology Centers of Excellence: the University of California, Santa Cruz; University of Texas, Austin; University of Michigan, Ann Arbor; University of Illinois, Urbana-Champaign; Stanford University; and Carnegie Mellon University. Each Center of Excellence has a minimum two- year commitment, during which time they'll execute chip design research and course work based on Sun's chip multi- threading(CMT) design. Sun Microelectronics The Sun Microelectronics group oversees development in networking, cryptography, and high-performance computing, and servers as a supplier to OEM customers around the globe. In August 2007, Sun introduced the UltraSPARC T2 processor, the world's fastest commodity processor. The UltraSPARC T2 set new, single-chip performance world records in two industry standard benchmarks: SPECint_rate2006 (78.5) and SPECfp_rate2006 (62.3). The UltraSPARC T2 processor, which is powered by less than 95 watts (nominal) with less than two watts per thread, boasts the most functionality, and lowest wattage per core and thread of any processor in its class. About Sun Microsystems Headquartered in Santa Clara, California, Sun Microsystems Inc. (NASDAQ: SUNW) -- http://www.sun.com/-- provides network computing infrastructure solutions that include computer systems, data management, support services and client solutions and educational services. It sells networking solutions, including products and services, in most major markets worldwide through a combination of direct and indirect channels. Sun Microsystems conducts business in 100 countries around the globe, including Brazil, Argentina, India, Hungary, United Kingdom, Singapore, among others. * * * Sun Microsystems Inc. carries Moody's "Ba1" probability of default and long-term corporate family ratings with a stable outlook. The ratings were placed on Sept. 22, 2006, and Sept. 22, 2005, respectively. Sun Microsystems also carries Standard & Poor's "BB+" long-term foreign and local issuer credit ratings, which were placed on March 5, 2004, with a stable outlook. SANMINA-SCI: Inks Assets Sale Agreement with Foxteq Holdings ------------------------------------------------------------ Sanmina-SCI Corporation signed a definitive agreement with Foxteq Holdings Inc., a member of Foxconn Technology Group, for the sale of certain assets of its personal computing business and associated logistics services located in Hungary, Mexico and the United States. Separately, the company has entered into a non-binding memorandum of understanding with Lenovo Group Limited to transition responsibility of its Monterrey, Mexico personal computing operation and to sell certain of its related assets to Lenovo. The company anticipates that the proceeds from the Foxteq transaction, along with the disposition of certain other related assets associated with, but not included in the Foxteq transaction, will be between US$80 and US$90 million, depending upon the book value of the assets at the time of closing. Other material terms related to the Foxteq transaction will be provided during the company's second quarter fiscal 2008 earnings conference call scheduled in April. The closing of the Foxteq transaction is subject to customary closing conditions, including regulatory approvals and is expected to close in the company's third fiscal quarter ending June 28, 2008. "This announcement is in line with our previous statements that we would sell or otherwise exit the personal computing business because the business is no longer integral to the company's long-term strategy," Jure Sola, chairman and chief executive officer of Sanmina-SCI, stated. "Since we disclosed our intentions to exit the personal computing business, several operating initiatives have allowed us to significantly reduce the net assets invested in this business," Mr. Sola concluded. "Accordingly, we anticipate that the financial benefits of these initiatives along with the total proceeds from these transactions and other related dispositions to be in excess of US$200 million." About Sanmina-SCI Headquartered in San Jose, California, Sanmina-SCI Corporation (NasdaqGS: SANM) -- http://www.sanmina-sci.com/-- is an Electronics Manufacturing Services (EMS) provider focused on delivering complete end-to-end manufacturing solutions to technology companies around the world. Service offerings include product design and engineering, test solutions, manufacturing, logistics and post-manufacturing repair/warranty services. The company has locations in Brazil, China, Ireland, Finland, Malaysia, Mexico and Singapore, among others. * * * Moody's Investor Service placed Sanmina-SCI Corp.'s long term corporate family and probability of default ratings at 'B1' in December 2007. The outlook is stable. ============= I R E L A N D ============= ELAN CORP: Posts US$405 Million Net Loss for Year Ended 2007 ------------------------------------------------------------ Elan Corporation, plc posted its unaudited full-year financial results for 2007. The company reported net loss of US$405 million on revenues of US$759.4 million for the year ended Dec. 31, 2007, compared with net loss of US$267.3 million on revenues of US$560.4 million for the same period in 2006. At Dec. 31, 2007, the company's unaudited consolidated balance sheet showed US$1.78 billion in total assets, US$2.02 billion in total liabilities and US$234.7 million in shareholders' deficit. Financial Outlook 2008 Elan expected total revenues to grow by over 30% from 2007 level and approach, if not e