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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, March 3, 2008, Vol. 9, No. 44

                            Headlines


A U S T R I A

ABT OTTO: Claims Registration Period Ends April 15
CS INNENBAU: Claims Registration Period Ends April 2
ESZET ROHSTOFFHANDEL: Claims Registration Period Ends March 18
FALKNER MASCHINENPUTZ: Claims Registration Period Ends March 25
FENSTERSERVICE UND MALERBETRIEB: Claims Filing Ends March 24

MFB MALER: Claims Registration Period Ends March 26
WATZ & WATZ: Claims Registration Period Ends March 10


B E L G I U M

CHIQUITA BRANDS: Moody's Holds B3 Corporate Family Rating
FLOWSERVE CORP: Reports US$255.7 Million Net Income in FY 2007
FLOWSERVE CORP: To Repurchase US$300-Million Common Stock
SOLUTIA INC: S&P Ups Credit Rating to B+ on Bankruptcy Emergence


F R A N C E

PERNOD RICARD: Net Sales Up 5.9% in 2007/2008 First Half
PRIDE INTERNATIONAL: Bags Contract Extensions from Petrobras


G E R M A N Y

CCC PROCURES: Claims Registration Period Ends March 18
DUERR AG: Better Profitability Prompts S&P's Positive Outlook
EUROLAB EUROPEAN: Claims Registration Ends March 20
FOSSURA TIEFBAU: Claims Registration Ends March 25
GRAPACH ORIENTIERUNGSMITTEL: Claims Period Ends March 11

INLO GMBH: Claims Registration Period Ends March 26
JOHANN LORENZ: Claims Registration Period Ends March 26
JUGENDWERKSTATT BAUHOF: Claims Registration Ends March 26
KARL KUEHN: Claims Registration Period Ends March 10
MAROC EXPRESS: Claims Registration Period Ends March 26

MARTEN GMBH: Claims Registration Ends March 18
MIKLA WARENHANDELS: Claims Registration Period Ends March 18
NEUBAU GMBH: Claims Registration Ends March 25
PHOENIX IMMOBILIEN: Claims Registration Period Ends March 26
PRESTIGE BAUTREUHAND: Claims Registration Ends March 25

PROMOTIONAL INDUSTRIES: Creditors Must File Claims by March 25
S.A.M. - FACTORY: Creditors Must File Claims by March 25
SCHAAL HAUSBAU: Creditors Must File Claims by March 25
SCHWEDTER INDUSTRIEVERWERTUNGSGESELLSCHAFT: Claims Due March 25
SSB GMBH: Claims Registration Ends March 25

STOCKERT BEDACHUNGEN: Claims Registration Period Ends March 20
TAUNUS GMBH: Claims Registration Period Ends March 20
TBA GRUNER: Claims Registration Period Ends March 5
TILES & MORE: Claims Registration Period Ends March 26
TRANSPORT LOGISTIK: Claims Registration Period Ends March 20

TRINCZEKS HOLZHOF: Claims Registration Period Ends March 20
UHLEMANN GMBH: Creditors Must File Claims by March 25
VERKEHRS-SYSTEM: Claims Registration Period Ends March 20
W. U. H. PAWLOWSKY: Claims Registration Period Ends March 20
WASSER & WARME: Creditors Must File Claims by March 25

WERMERS BAUGESCHAFT: Claims Registration Period Ends March 11


I R E L A N D

COLTRANE CLO: KPMG Appointed as Joint Receivers


I T A L Y

ALITALIA SPA: Lazio Court Says Exclusive Sale Talks Legitimate
BERICA 6: Moody's Affirms B1 Rating on Class C Notes
FIAT SPA: Government Approves Equal Partnership with Tata Motors
TISCALI SPA: Mario Rosso Replaces Tommaso Pompei as CEO


K A Z A K H S T A N

ASIA CONSTRUCTOR: Creditors Must File Claims by March 25
ASPASIA-LTD LLP: Claims Deadline Slated for March 21
ECO PLUS: Claims Filing Period Ends March 21
KALIOPPA LLP: Creditors' Claims Due on March 21
KDA-1 LLP: Claims Registration Ends March 21

LIKA STYLE: Creditors Must File Claims by March 28
NUR-MAK REMSTROY: Claims Deadline Slated for March 28
STROM-ELIT LLP: Claims Filing Period Ends March 28
TECHECO PLUS: Creditors' Claims Due on March 25
ZHIGER LLP: Claims Registration Ends March 28


K Y R G Y Z S T A N

AYA LLC: Creditors Must File Claims by March 21
STROYMIG LLC: Claims Filing Period Ends March 21


L A T V I A

LATVIJAS KRAJBANKA: Fitch Cuts Long-Term Issuer Rating to B


L U X E M B O U R G

EVRAZ GROUP: Plans EUR500 Mln Investment to Boost Rail Output


N E T H E R L A N D S

MEXX: Shuts Down 61 UK Retail Outlets; Sheds 300 Jobs


N O R W A Y

OCEAN RIG: Improved Contract Structure Cues S&P to Up Ratings


R U S S I A

BATUSHEVSKOE CJSC: Creditors Must File Claims by March 16
COMSTAR-UNITED: Completes Russia's Long-Distance Telecom Network
DAG-TELECOMS: Creditors Must File Claims by April 16
ENERGO-REMONT OJSC: Creditors Must File Claims by March 16
EVRAZ GROUP: Plans EUR500 Mln Investment to Boost Rail Output

IZHEVSKAYA DRILLING: Creditors Must File Claims by March 16
JAM TEXTILE: Creditors Must File Claims by March 16
JOINT COAL: Creditors Must File Claims by March 16
TOLYATTI TRANS: Court Starts Bankruptcy Supervision Procedure


S W I T Z E R L A N D

COMATIC RESEARCH: Creditors' Liquidation Claims Due by March 6
HARA LLC: Creditors' Liquidation Claims Due by March 6
HELVETICA GRUNDWERT: Zug Court Starts Bankruptcy Proceedings
HOCHULI BAUPARTNER: Zug Court Starts Bankruptcy Proceedings
JUSTORE JSC: Creditors' Liquidation Claims Due by March 6

KLEINER VERKAUF: Creditors' Liquidation Claims Due by March 6
LIECHTI INNENAUSBAU: Creditors Must File Claims by March 6
MEDICO INTER: Zug Court Closes Bankruptcy Proceedings
RAB LLC: Creditors' Liquidation Claims Due by March 31


U K R A I N E

MATUSIV LLC: Creditors Must File Claims by March 13
NPF GTSS-INVEST: Proofs of Claim Filing Deadline Set March 13
STAKHANOVCOALRESOURCES: Creditors Must File Claims by March 13
VALENA LTD: Creditors Must File Claims by March 13


U N I T E D   K I N G D O M

CASCOS UK: Brings In Liquidators from Vantis
DECO 6: Fitch Holds BB Rating on GBP24.09 Million Class D Notes
EGERTON KITCHENS: Joint Liquidators Take Over Operations
FLEX INVESTMENTS: Taps Joint Administrators from Grant Thornton
IDMOS PLC: Current Capital Can Finance Operations Until March 1

IVAN J COOPER: Barclays Bank Taps Begbies Traynor as Receivers
J L FRENCH: Taps Liquidators from BDO Stoy Hayward
KENDLE INT'L: Net Income Increases to US$18.7 Million in 2007
LADBROKES PLC: Dec. 31 Balance Sheet Upside-Down by GBP450.8 Mln
MCE ENTERPRISES: Colin Nicholls Leads Liquidation Procedure

MERRY PRINTERS: Appoints Michael Young as Liquidator
METRONET BANK: S&P Cuts & Then Withdraws GBP810MM Loan's Rating
MEXX: Shuts Down 61 UK Retail Outlets; Sheds 300 Jobs
NORTH WEST: Claims Filing Period Ends March 28
PETROLEOS DE VENEZUELA: Court May Rule on Asset Freeze This Week

PETROLEOS DE VENEZUELA: To Set Up Joint Venture with Borets
RANK GROUP: Inks Deal to Transfer Pension Plan to Rothesay Life
RBJ LTD: Calls In Liquidators from Tenon Recovery
RENTOKIL INITIAL: Brian McGowan Quits as Board Chairman
STEVLITE MOULDINGS: Appoints Tenon Recovery as Administrators

TURNERGRAPHIC LTD: Brings In Administrators from Grant Thornton
VIRGIN MEDIA: Posts GBP163.2 Mln Net Loss for 4th Quarter 2007
XCITE HEALTH: Hires Liquidators from Grant Thornton


* BOND PRICING: For the Week Feb. 25 to Feb. 29, 2008


                            *********


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


ABT OTTO: Claims Registration Period Ends April 15
--------------------------------------------------
Creditors owed money by Abt Otto Sicherheitstechnik have until
April 15, 2008, to file written proofs of claim to court-
appointed estate administrator Martin Koroschetz at:

          Dr. Martin Koroschetz
          Hauptstrasse 8
          2540 Bad Voeslau
          Austria
          Tel: 02252/251 251
          Fax: 02252/251251-5
          E-mail: dr.koroschetz@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on April 29, 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 Alland, Austria, the Debtor declared bankruptcy
on Feb. 11, 2008 (Bankr. Case No. 11 S 127/07y).


CS INNENBAU: Claims Registration Period Ends April 2
----------------------------------------------------
Creditors owed money by LLC CS Innenbau & Baubetreuung (FN
284299m) have until April 2, 2008, to file written proofs of
claim to court-appointed estate administrator Peter Freiberger
at:

          Mag. Peter Freiberger
          Wienerstrasse 50-54
          8680 Muerzzuschlag
          Austria
          Tel: 03852/30 0 80
          Fax: 03852/30080-80
          E-mail: office@rpt.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at noon on  April 16, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Leoben
          Hall IV
          First Floor
          Leoben
          Austria

Headquartered in Rottenmann, Austria, the Debtor declared
bankruptcy on Feb. 11, 2008 (Bankr. Case No. 18 S 1/08k).


ESZET ROHSTOFFHANDEL: Claims Registration Period Ends March 18
--------------------------------------------------------------
Creditors owed money by LLC ESZET Rohstoffhandel (FN 188961i)
have until March 18, 2008, to file written proofs of claim to
court-appointed estate administrator Wolfgang Strasser at:

          Dr. Wolfgang Strasser
          Hauptplatz 11
          4300 St. Valentin
          Austria
          Tel: 07435/52 4 37
          Fax: 07435/52 4 37-21
          E-mail: st-valentin@advocat24.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on April 8, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of St. Poelten
          Room 216
          Second Floor
          Old Building
          St. Poelten
          Austria

Headquartered in Ennsdorf, Austria, the Debtor declared
bankruptcy on Feb. 8, 2008 (Bankr. Case No. 14 S 14/08m).


FALKNER MASCHINENPUTZ: Claims Registration Period Ends March 25
---------------------------------------------------------------
Creditors owed money by LLC Falkner Maschinenputz (FN 151710d)
have until March 25, 2008, to file written proofs of claim to
court-appointed estate administrator Erhard Hackl at:

          Dr. Erhard Hackl
          Hofgasse 7
          4020 Linz
          Austria
          Tel: 0732/776234
          Fax: 0732/77623422
          E-mail: hackl.hatak@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on April 8, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Linz
          Hall 522
          Fifth Floor
          Linz
          Austria

Headquartered in Walding, Austria, the Debtor declared
bankruptcy on Feb. 11, 2008 (Bankr. Case No. 17 S 10/08g).


FENSTERSERVICE UND MALERBETRIEB: Claims Filing Ends March 24
------------------------------------------------------------
Creditors owed money by LLC Fensterservice und Malerbetrieb (FN
281806x) have until March 24, 2008, to file written proofs of
claim to court-appointed estate administrator Michael Neuhauser
at:

          Mag. Michael Neuhauser
          Fanny Elssler-Gasse 4
          7000 Eisenstadt
          Austria
          Tel: 02682/61394
          Fax: 02682/68339
          E-mail: eisenstadt@snwlaw.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 11:45 a.m. on April 7, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Eisenstadt
          Hall F
          Eisenstadt
          Austria

Headquartered in Wiesen am Rosaliengebirge, Austria, the Debtor
declared bankruptcy on Feb. 8, 2008 (Bankr. Case No. 26 S
13/08a).


MFB MALER: Claims Registration Period Ends March 26
---------------------------------------------------
Creditors owed money by LLC MFB Maler & Farbenhandel have until
March 26, 2008, to file written proofs of claim to court-
appointed estate administrator Martin Honemann at:

          Mag. Martin Honemann
          c/o Dr. Annemarie Kosesnik-Wehrle
          Oelzeltgasse 4
          1030 Wien
          Austria
          Tel: 01/713 61 92
          Fax: 01/713 61 92 22
          E-mail: martin.honemann@kosesnik-langer.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:30 a.m. on April 9, 2008, for the
examination of claims.

The meeting of creditors will be held at:

          The Land Court of Korneuburg
          Room 204
          Second Floor
          Korneuburg
          Austria

Headquartered in Hainburg an der Donau, Austria, the Debtor
declared bankruptcy on Feb. 8, 2008 (Bankr. Case No. 36 S
16/08g).  Annemarie Kosesnik-Wehrle  represents Mag. Honemann in
the bankruptcy proceedings.


WATZ & WATZ: Claims Registration Period Ends March 10
-----------------------------------------------------
Creditors owed money by LLC Watz & Watz  have until
March 10, 2008, to file written proofs of claim to court-
appointed estate administrator Emanuel Dolezal at:

          Mag. Emanuel Dolezal
          c/o Mag. Andrea Prochaska
          Elisabethstr. 2
          2340 Moedling
          Austria
          Tel: 02236/42210
          Fax: 02236/42210-25
          E-mail: emanuel.dolezal@bkb-partner.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 a.m. on March 20, 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 Moedling, Austria, the Debtor declared
bankruptcy on Feb. 11, 2008 (Bankr. Case No. 10 S 16/08v).


=============
B E L G I U M
=============


CHIQUITA BRANDS: Moody's Holds B3 Corporate Family Rating
---------------------------------------------------------
Moody's Investors Service rated the proposed new senior secured
guaranteed bank agreements of Chiquita Brands, LLC at Ba3.  The
ratings on CBLLC's existing bank revolving credit agreement and
term loan C are upgraded to Ba3 from B1, and will be withdrawn
when the new bank agreements are executed.  Parent Chiquita
Brands International, Inc.'s ratings are affirmed, including its
B3 corporate family rating and B3 probability of default rating.
The rating outlook remains negative.

Ratings upgraded:

Chiquita Brands, LLC

     -- Existing US$200 million senior secured revolving credit
        agreement to Ba3 (LGD2,18%) from B1 (LGD2, 26%)

     -- Existing senior secured Term Loan C, reduced to
        US$132 million, to Ba3 (LGD2,18%) from B1 (LGD2, 26%)

Ratings assigned:

Chiquita Brands, LLC

     -- New US$200 million senior secured revolving credit
        agreement at Ba3 (LGD2,19%)

     -- New US$200 million senior secured term loan at Ba3
        (LGD2,19%)

Ratings affirmed

Chiquita Brands International, Inc.

     -- Corporate family rating at B3
     -- Probability of default rating at B3
     -- Ratings affirmed, and LGD percentages revised

Chiquita Brands International, Inc.

     -- US$250 million 7.5% senior unsecured notes due 2014 at
Caa2 (LGD5); LGD % to 82% from 89%

     -- US$225 million 8.875% senior unsecured notes due 2015 at
        Caa2 (LGD5); LGD % to 82% from 89%

The upgrade in the ratings of CBLLC's existing senior secured
bank facilities is the result of the application of proceeds
from the recent unrated US$200 million senior unsecured
convertible notes issuance at the holding company to the partial
repayment of Term Loan C.  This increase in the amount of debt
that is effectively subordinated to the senior secured bank
facility and simultaneous reduction in the amount of senior
secured bank debt resulted in a lower expected loss on the
existing bank facilities.  CBLLC's proposed new bank revolving
credit and term loan will be secured by a first lien on the
collateral pledged to the existing agreements; however, the
current separation of collateral by facility under the existing
agreements will be eliminated.  The new bank facilities will be
guaranteed by the holding company and by material direct and
indirect domestic operating subsidiaries and by certain material
non-US operating subsidiaries.

The affirmation of the holding company's ratings is based on the
fact that fiscal year 2007 reported EBIT stabilized at a level
close to that of fiscal 2006, adding back certain non-recurring
charges in both years; and that the 2007 restructuring is
expected to generate cost savings of $60 million to $80 million
in fiscal 2008, which should soften the impact of rising costs
across the industry.

Chiquita's B3 corporate family rating incorporates the company's
weak credit metrics and challenged operating performance.
Ratings also reflect continued uncertainty with regard to long
term structural changes occurring in the company's key European
Union banana market, the need to improve results at the
company's salads and healthy snacks to historical levels, and
continued pressure from rising input costs.  Ratings are
supported by Chiquita's solid franchise as one of the largest
global fresh fruit and vegetable companies with strong market
shares and good diversification in terms of product offerings,
geographic reach, and raw material supply.

Chiquita Brands International, Inc. is a global producer and
marketer of bananas, other fresh fruit and vegetables with
revenues of approximately US$4.7 billion for the fiscal year
ended December 31, 2007.

           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.


FLOWSERVE CORP: Reports US$255.7 Million Net Income in FY 2007
--------------------------------------------------------------
Flowserve Corp. earned US$95.9 million for the three months
ended Dec. 31, 2007, compared to US$33.5 million of net income
for the same period in 2006.  For the full year of 2007, the
company reported US$255.7 million of net income compared to
US$115 million in 2006.  Flowserve also posted record full
year and fourth quarter bookings of US$4.32 billion and
US$1.12 billion, respectively, up 19% for both the full year and
the fourth quarter as the company continued to see robust end
markets.

Cash flow from operations increased to US$417 million, up US$254
million or 156% as a result of strong performance and working
capital improvement, including increased advance customer
payments for large project orders.  This strong cash flow
supported, in 2007, the repurchase of 700,000 shares of common
stock for US$45 million, US$32 million of pension plan
contributions, common stock dividends of US$26 million and US$89
million of capital expenditures, which helped support improved
operational capabilities and the company’s expanded global
footprint.

Sales increased significantly to US$3.76 billion, up US$702
million or 23%.  This increase includes currency benefits of
approximately US$178 million.  The strong sales growth reflects
broad strength in the company’s key markets across the globe, as
well as strong conversion of earlier bookings into shipments.

Gross profit increased to US$1.25 billion, up US$240 million or
24%.  Gross margin increased by 30 basis points to 33.2%. The
increase reflected higher sales volumes, which positively
impacted fixed cost absorption, and the success of the company’s
operational excellence initiatives.

SG&A expenses as a percentage of sales improved 280 basis points
to 22.8%.  The improvement was primarily attributable to
leverage from higher sales, leverage of selling resources and
effective ongoing cost containment efforts.  The improvement was
also impacted by a US$6 million gain on the sale of the
company’s TKL rail assets in the fourth quarter of 2007, and the
non-recurrence of 2006 stock modification and realignment
charges of US$6 million and US$12 million respectively.  Legal
fees and accrued resolution costs related to the previously
announced foreign subsidiaries’ involvement with the United
Nations Oil-for-Food Program of approximately US$11 million in
the first three quarters of 2007 were partially offset by the
net gain from other favorable discrete legal developments in the
fourth quarter of 2007.  SG&A expenses increased to US$857
million, up US$74 million or 10%, while sales increased 23%,
demonstrating the company’s effective cost leverage in 2007.

Operating income increased significantly to US$410 million, up
US$170 million or 71%, benefiting from significantly higher
sales, improved gross profit and reduced SG&A expenses as a
percentage of sales.  Operating margin increased 310 basis
points from 7.8% to 10.9%.

                        2007 Fiscal Year

Sales improved significantly to US$1.11 billion, up
US$226 million or 26%.  This increase included currency benefits
of approximately US$69 million.  Increased sales growth
reflected strong conversion of earlier bookings into shipments
in the quarter and strong demand in the oil and gas market.

Gross profit increased to US$366 million, up US$79 million or
28% . Gross margin increased by 50 basis points to 33.0%.  This
increase reflected higher sales volumes, which positively
impacted fixed cost absorption, and the success of the company’s
ongoing operational excellence initiatives.

SG&A expenses as a percentage of sales decreased 470 basis
points to 21.0%.  The improvement was primarily attributed to
leverage from higher sales, as well as ongoing cost containment
efforts.  The improvement included the previously discussed
impact of the sale of TKL rail assets and favorable resolutions
of certain discrete legal matters in the fourth quarter of 2007,
as well as the non-recurrence of approximately US$10 million of
realignment costs in 2006.  In addition, the fourth quarter in
2007 included increased broad-based employee incentive
compensation expenses, due to continued strong company
performance in the quarter, which increased awards under company
incentive plans.  SG&A expenses increased to US$233 million, up
US$6 million or 3%, while sales increased 26%.

Operating income increased significantly to US$137 million, up
US$74 million or 117%, benefiting from significantly higher
sales, improved gross profit and reduced SG&A expenses as a
percentage of sales.  Operating margin increased 520 basis
points from 7.2% to 12.4%.

                          2008 Outlook

"2007 was truly an outstanding year for Flowserve," said Lewis
M. Kling, Flowserve President and Chief Executive Officer.  "We
set out to achieve a number of aggressive goals for the company,
and our team executed extremely well across all fronts.  As we
enter 2008, we continue to see excellent opportunities for the
company.  Our end markets remain strong, and our initiatives to
further improve execution at the company continue to gain
significant traction.  As a result, we reiterate our previous
2008 guidance range for EPS of US$5.10 to US$5.40 and look
forward to another successful year for the company," said
Mr. Kling.

Headquartered in Irving, Texas, Flowserve Corp. (NYSE: FLS) --
http://www.flowserve.com/-- provides fluid motion and control
products and services.  Operating in 56 countries, the company
produces engineered and industrial pumps, seals and valves as
well as a range of related flow management services.  Flowserve
has operations in Dominican Republic, Guatemala, Guyana, Belize,
Belgium, Netherlands, Indonesia, Singapore, Japan, among others.

                         *     *     *

To date, Flowserve Corporation carried Moody's Investors
Service's corporate family rating at Ba3, bank loan debt rating
at Ba2 and probability of default at B1.


FLOWSERVE CORP: To Repurchase US$300-Million Common Stock
---------------------------------------------------------
Flowserve Corp.'s board of directors has authorized a program to
repurchase up to US$300 million of its outstanding common stock.
Shares may be repurchased from time to time by the company at
its discretion in the open market or through privately
negotiated transactions, depending on prevailing market
conditions, alternative uses of capital and other factors.  The
share repurchase program does not have an expiration date and
may be limited or terminated at any time without notice.  As of
Feb. 26, 2008, the company had 57,324,322 shares outstanding.

The company’s board of directors also authorized an increase in
the quarterly cash dividend to US$0.25 per share.  The quarterly
dividend increased from US$0.15 per share, or 67% over the
previous quarterly rate. The declared dividend is payable on
April 9, 2008 to shareholders of record as of the close of
business on March 26, 2008.

"These uses of cash demonstrate our confidence in the company’s
ability to deliver strong cash flows in the future, as well as
the sharp focus we have on providing solid returns to our
shareholders," said Lewis Kling, Flowserve President and Chief
Executive Officer.

While Flowserve currently intends to pay regular quarterly
dividends for the foreseeable future, any future dividends will
be reviewed individually and declared by the board at its
discretion, dependent on the board’s assessment of the company’s
financial condition and business outlook at the applicable time.

                       About Flowserve

Headquartered in Irving, Texas, Flowserve Corp. (NYSE: FLS) --
http://www.flowserve.com/-- provides fluid motion and control
products and services.  Operating in 56 countries, the company
produces engineered and industrial pumps, seals and valves as
well as a range of related flow management services.  Flowserve
has operations in Dominican Republic, Guatemala, Guyana, Belize,
Belgium, Netherlands, Indonesia, Singapore, Japan, among others.

                         *     *     *

To date, Flowserve Corporation carried Moody's Investors
Service's corporate family rating at Ba3, bank loan debt rating
at Ba2 and probability of default at B1.


SOLUTIA INC: S&P Ups Credit Rating to B+ on Bankruptcy Emergence
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Solutia Inc. to 'B+' from 'D', following the company's
emergence from bankruptcy on Feb. 28, 2008, and the
implementation of its financing plan.  The outlook is stable.

S&P also affirmed its 'B+' rating and '3' recovery rating on
Solutia's proposed senior secured term loan.  In addition, S&P
assigned its 'B-' rating to Solutia's US$400 million unsecured
bridge loan facility.  S&P also withdrew its 'B-' rating on the
proposed US$400 million unsecured notes, which have been
replaced by the bridge facility in Solutia's capital structure.

"Our rating actions on Solutia factor in recent changes to the
company's financing plan, including the increase of the unrated
asset-backed revolving credit facility to US$450 million from
US$400 million, revised debt pricing, and the decision to fund
the US$400 million bridge loan facility in the company's capital
structure," said Standard & Poor's credit analyst Paul Kurias.

The bridge facility initially existed as a contingency measure.
The facility has an initial maturity of one-year, and will
rollover automatically so long as there is no event of default.

Solutia has utilized proceeds from the term loan, unsecured
bridge loan, the unrated US$450 million asset-backed revolving
credit facility, and a US$250 million rights equity issue to pay
certain creditors following its emergence from bankruptcy,
including creditors at a Belgium-based subsidiary, Solutia
Europe S.A./N.V. (B/Watch Dev/B).  Accordingly, S&P will
withdraw its ratings on Solutia Europe.  Proceeds are also
expected to be used to reduce underfunded levels in
postretirement employee benefit liabilities.

Total adjusted debt, pro forma for the transaction, including
the present value of capitalized operating leases, tax-adjusted
unfunded postretirement employee benefits, and environmental
reserves, is estimated at US$2.2 billion for the fiscal year
ended Dec. 31, 2007.

The ratings reflect Solutia's highly leveraged financial profile
and a business mix that includes a large commodity-oriented
nylon segment that is somewhat vulnerable to economic and
cyclical downturns and volatility in raw material,
transportation, and energy costs.  These risks are tempered by
meaningful contributions of relatively stable specialty
businesses in the company's portfolio, good market shares in
most businesses, geographic diversity, and an ongoing portfolio
restructuring effort aimed at improving Solutia's cost
competitiveness and profitability.

                     About Solutia Inc.

Based in St. Louis, Missouri, Solutia Inc.
(OTCBB:SOLUQ)(NYSE:SOA- WI) -- http://www.solutia.com/-- and
its subsidiaries, engage in the manufacture and sale of
chemical-based materials, which are used in consumer and
industrial applications worldwide.

The company and 15 debtor-affiliates filed for chapter 11
protection on Dec. 17, 2003 (Bankr. S.D.N.Y. Lead Case No.
03-17949).  When the Debtors filed for protection from their
creditors, they listed US$2,854,000,000 in assets and
US$3,223,000,000 in debts.

Solutia is represented by Richard M. Cieri, Esq., Jonathan S.
Henes, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis
LLP, in New York, as lead bankruptcy counsel, and David A.
Warfield, Esq., and Laura Toledo, Esq., at Blackwell Sanders
LLP, in St. Louis Missouri, as special counsel.  Trumbull Group
LLC is the Debtor's claims and noticing agent.  Daniel H.
Golden, Esq., Ira S. Dizengoff, Esq., and Russel J. Reid, Esq.,
at Akin Gump Strauss Hauer & Feld LLP represent the Official
Committee of Unsecured Creditors, and Derron S. Slonecker at
Houlihan Lokey Howard & Zukin Capital provides the Creditors'
Committee with financial advice.  The Official Committee of
Retirees of Solutia, Inc., et al., is represented by Daniel D.
Doyle, Esq., Nicholas A. Franke, Esq., and David M. Brown, Esq.,
at Spencer Fane Britt & Browne, LLP, in St. Louis, Missouri, and
Frank M. Young, Esq., Thomas E. Reynolds, Esq., R. Scott
Williams, Esq., at Haskell Slaughter Young & Rediker, LLC, in
Birmingham, Alabama.

On Feb. 14, 2006, the Debtors filed their Reorganization Plan &
Disclosure Statement.  On May 15, 2007, they filed an Amended
Reorganization Plan and on July 9, 2007, filed a 2nd Amended
Reorganization Plan.  The Bankruptcy Court approved the Debtors'
amended Disclosure Statement on Oct. 19, 2007.  On
Oct. 22, 2007, the Debtor re-filed a Consensual Plan &
Disclosure Statement and on Nov. 29, 2007, the Court confirmed
the Debtors' Consensual Plan.


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


PERNOD RICARD: Net Sales Up 5.9% in 2007/2008 First Half
--------------------------------------------------------
Pernod Ricard S.A. recorded historic sales growth and
accelerated profitability growth for the 2007/2008 first half
year (July 1 to December 31, 2007).  These performances were
achieved thanks to the success of its 15 strategic brands, in
particular in emerging markets, as well as to the dynamic sales
in mature markets.  Volume growth, significant price increases
and a markedly improved mix resulted in a very substantial rise
in operating profit from ordinary activities, in spite of
significantly increased advertising and promotion expenditure.

                   2007/2008 Interim Sales

Pernod Ricard consolidated net sales (excluding duties and
taxes) for the 2007/2008 first half-year increased by 5.9% to
EUR3.7 billion, being 10.1% organic growth (2.5% negative
foreign exchange effect, 1.5% negative group structure effect).

The 15 strategic brands were the main drivers of this growth.
They grew +7% in volume and +13% in value(1), thereby
demonstrating the very positive impact of price increases and
mix effects.  In particular, premium(3) spirits grew +17%(1).

All geographic regions contributed to consolidated sales growth,
with an accelerated contribution from emerging countries
(+25%(1)).  China, India and Russia were, in that order, the
leading three contributors to the sales growth.

            Improved Contribution Margin from Portfolio

Gross margin after logistics costs increased by +12.8%(1) to
EUR2.1 billion, due to sales growth and a very significant
improvement in gross margin ratio, which rose from 56% to 58% on
sales, on a constant foreign exchange basis.  This resulted from
the larger relative size of premium and Top 15 brands and from
the implementation of the value strategy throughout the whole
portfolio.

This performance enabled the Group to accelerate advertising and
promotion expenditure growth by +14.8%(1) to EUR623 million,
which was primarily focused on premium brands and emerging
countries.  The Top 15 benefited notably from 80% of such
expenditure growth in the 2007/2008 first half year.

Overall, the contribution after advertising and promotion
expenditure grew +12%(1) to EUR1.5 billion, and represented
40.5% of sales, an increase of 110 bp on a constant foreign
exchange basis compared to the previous financial year.

          Decrease in Structure Costs/Sales ratio

Structure costs increased by 6.5%(1) to EUR538 million.  This
growth was focused on emerging countries, in particular China,
Russia and India.  Strong sales growth enabled a further
reduction in the structure costs/sales ratio to 14.5%, a
decrease of 30 bp on a constant foreign exchange basis compared
to the previous financial year, in line with Group targets.

               Operating Profit from Ordinary Activities

Operating profit from ordinary activities increased by 15.3%(1)
to EUR966 million, along with a 26% operating profit margin, an
improvement of 140 bp compared to the previous financial year,
on a constant foreign exchange basis.

All geographic regions reported double-digit organic growth in
operating profit from ordinary activities:

    * Particularly dynamic growth in Asia/Rest of World and
      Europe.  The spectacular development of these two regions
      was notably due to the significant growth of premium
      brands in emerging markets.

    * In France, growth was accelerated by well-controlled
      structure costs and advertising and promotion expenditure.

    * The foreign exchange and group structure effects
      primarily concerned the Americas region, whose relative
      size in the Group's sales and profits decreased, in spite
      of organic growth similar to other regions.

Negative currency fluctuations (primarily US$ and currencies
tied to the US$) reduced the growth of operating profit from
ordinary activities by EUR49 million in the first half year.

            Net profit from Ordinary Activities

Financial expense from ordinary activities totaled EUR176
million, comprising EUR168 million of debt finance charges
(average borrowing cost of about 5%, stable compared to the
previous financial year), the structuring costs for the funding
arrangements for EUR6 million, as well as EUR2 million in other
expenses.

The tax charge on ordinary activities was EUR183 million,
representing an average rate of 23.1%, slightly down from the
previous financial year (23.9%).  Finally, the share of minority
interests in net profit from ordinary activities was stable at
EUR13 million.

Overall, net profit from ordinary activities Group share totaled
EUR594 million, being a 18.6% increase on a constant foreign
exchange basis compared to the first half of 2006/2007, and
diluted earnings per share from ordinary activities was
EUR 2.76, being an increase of 18.1% on a constant foreign
exchange basis.

                          Net Profit

Other operating income/(expense) was a EUR5 million income while
non-current financial items mainly related to exchange losses
comprised a charge of EUR9 million.  The tax charge in respect
of the non-current result amounted to EUR2 million.

As a result, net profit (Group share) totaled EUR588 million, a
17.7% increase compared to the 2006/2007 financial year.

                             Debt

Net debt at December 31, 2007 amounted to EUR6.6 billion, stable
compared to June 30, 2007 (EUR6.5 billion).  In the first half
year, the debt was, as expected, impacted by the cognac
restocking program, the rise in trade receivables due to higher
sales at the end of the year in 2007 and the payment of cash
dividends.

This resulted in an improved Net Debt (excluding treasury
shares)/EBITDA ratio of 3.8 compared to 3.9 at June 30, 2007.

                   Conclusion and Outlook

"The first half of our 2007/2008 year was exceptional both in
terms of the strength of sales and the growth in margins.  The
increase in profit was such that we decided to accelerate the
growth in advertising and marketing expenditure, thus
strengthening our growth prospects.  This enables us to revise
upwards, once again, our 2007/2008 full year guidance and to aim
at a growth in operating profit from ordinary activities of at
least 12%(4) on a like-for-like basis (foreign exchange and
group structure)," Patrick Ricard, chairman and CEO of the
Group, stated.

    (1) Organic growth

    (2) GNP/capita < USD 10,000

    (3) Spirits with a price positioning higher or equal to that
        of Chivas Regal 12 year old or Martell VS, champagne and
        wines > US$ 10 per bottle

    (4) Versus about 12%

                      About Pernod Ricard

Headquartered in Paris, France, Pernod Ricard --
http://www.pernod-ricard.com/-- produces and distributes
spirits and wines.  The Company operates in Europe, North
America, Central and South America, and the Asia-Pacific region.

                          *   *   *

Pernod Ricard carries Standard & Poor's BB+ ratings on its
5.245% floating rate notes and 4-5/8% unsubordinated notes.


PRIDE INTERNATIONAL: Bags Contract Extensions from Petrobras
------------------------------------------------------------
Pride International Inc. has been awarded contract extensions
from Petroleo Brasileiro S.A. for the deepwater, dynamically
positioned semisubmersible rigs Pride Rio de Janeiro and Pride
Portland.

The contract extensions, representing six years per rig, are
expected to commence during late 2010 to early 2011, in direct
continuation of each rig's current contract commitment and a
scheduled shipyard program to complete a regulatory survey.
Estimated contract revenues which could be generated from
each six-year contract extension are approximately US$768
million, inclusive of a performance bonus opportunity for each
rig of up to 15 percent, or approximately US$1.5 billion in
total revenues.  The contract extensions also provide for a cost
escalation provision from the signing date through the six-year
term.

Louis A. Raspino, President and Chief Executive Officer of Pride
International Inc., commented, "The extensions of these two
dynamically positioned, deepwater semisubmersibles through 2016
are further evidence of the continuing need by clients for
deepwater rigs and reflect the long-term nature of the present
deepwater drilling cycle.  With these extensions, Pride will
remain one of the largest contractors of floating rigs to
Petrobras in support of their exploration and development
drilling needs.  Accordingly, our company is in an advantageous
position to potentially benefit from additional deepwater rig
requirements for Petrobras in Brazil, as well as in their
international deepwater operations."

As previously disclosed, consideration received under the
contract extensions will be subject to an earn-out provision
with the company's previous joint venture partner.  The company
expected payments, if any, under the earn-out provision to be
less then US$10,000 per day, per rig over the term of the
contract extensions, which would be capitalized as additional
purchase price.

The Pride Rio de Janeiro and Pride Portland are two of eight
deepwater rigs currently in the Pride International fleet, six
of which are dynamically positioned deepwater rigs. The two
semisubmersibles have operated offshore Brazil for Petrobras
since entering service in 2004.  Both units are expected to
continue operations offshore Brazil throughout the extension
period.

                         About Petrobras

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA
aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp-
- was founded in 1953.  The company explores, produces,
refines, transports, markets, distributes oil and natural gas
and power to various wholesale customers and retail distributors
in Brazil.  Petrobras has operations in China, India, Japan, and
Singapore.

                  About Pride International

Headquartered in Houston, Texas, Pride International Inc.
(NYSE: PDE) -- http://www.prideinternational.com/-- provides
onshore and offshore contract drilling and related services in
more than 25 countries, operating a diverse fleet of 277 rigs,
including two ultra-deepwater drillships, 12 semisubmersible
rigs, 28 jackups, 16 tender-assisted, barge and platform rigs,
and 214 land rigs.  The company maintains worldwide operations
in France, Mexico, Kazakhstan, India, and Brazil, among others.

                        *     *     *

Pride International Inc. carries Standard & Poor's Ratings
Service's BB+ corporate credit and unsecured debt ratings with a
stable outlook.


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


CCC PROCURES: Claims Registration Period Ends March 18
------------------------------------------------------
Creditors of CCC pROcures GmbH have until March 18, 2008, to
register their claims with court-appointed insolvency manager
Michael Bremen.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 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 Duesseldorf
         Meeting Hall A 341
         Fourth Floor
         Muehlenstrasse 34
         40213 Duesseldorf
         Germany

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

The insolvency manager can be reached at:

         Michael Bremen
         Sternstr. 58
         40479 Duesseldorf
         Germany

The District Court of Duesseldorf opened bankruptcy proceedings
against CCC pROcures GmbH on Feb. 15, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         CCC pROcures GmbH
         Attn: Oliver Oelschlager, Manager
         Vollmerswerther Strasse 20
         40221 Duesseldorf


DUERR AG: Better Profitability Prompts S&P's Positive Outlook
-------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to
positive from stable on Duerr AG, a German manufacturer of paint
shops and assembly lines for automakers.  At the same time, S&P
affirmed its 'B' long-term corporate credit rating on the
group.

"The outlook revision reflects Duerr's improved profitability
and cash generation," said Standard & Poor's credit analyst
Barbara Castellano.  "Moreover, the group has strengthened its
order book, which gives us confidence that it can sustain this
improvement over time."

Duerr has so far reported only preliminary results for 2007, but
there are clear signs of improvement in operating performance --
especially the increase in orders.  Duerr is gaining new orders
in different geographic areas and from a growing number of
customers.

After the deep restructuring started in 2005, the group is now
controlling costs and order intake more stringently.

Consequently, operating profit has increased and risk
diversification has improved.  Although profitability remains
weak -- the 2007 reported operating margin was 3.7% -- Duerr's
positive order momentum sustains the group's expectation of an
improvement in 2008 toward its stated target of a 5% EBIT
margin.

Cash generation finally turned positive in 2007.  Duerr's
improving operating results, should play a growing role in
enhancing cash generation.  S&P expects Duerr to continue
focusing on debt reduction and to adopt a prudent
dividend policy.

The rating reflects Duerr's weak profitability, track record of
negative free operating cash flow generation, and challenging
position as a supplier to price-aggressive original equipment
manufacturers.  Positive rating factors
include Duerr's leading global position and widely recognized
expertise in its core markets, as well as its increasing
geographic diversification.

"We expect Duerr to continue to strengthen its operating
performance, thanks to its healthy order intake," said Ms.
Castellano.  "This should lead to continued improvement in cash
measures from the very weak levels of recent years."

Standard & Poor's expects Duerr to maintain a ratio of funds
from operations to debt of about 15% and EBITDA interest
coverage ratio above 2x.

"If the group sustains these targets in 2008, we could raise the
rating," said Ms. Castellano.

In contrast, Standard & Poor's could revise the outlook back to
stable if Duerr fails to meet these targets or if there are
clear signs of a negative shift in its business profile.


EUROLAB EUROPEAN: Claims Registration Ends March 20
---------------------------------------------------
Creditors of EuroLab European IT Services GmbH have until
March 20, 2008 to register their claims with court-appointed
insolvency manager Dr. Per Hendrik Heerma.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 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 Hamburg
         Meeting Hall B 405
         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:

         Dr. Per Hendrik Heerma
         Jungfernstieg 50
         20354 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against EuroLab European IT Services GmbH on Feb. 8, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         EuroLab European IT Services GmbH
         Attn: Jost Klimas, Manager
         Winterhuder Weg 31
         22085 Hamburg
         Germany


FOSSURA TIEFBAU: Claims Registration Ends March 25
--------------------------------------------------
Creditors of Fossura Tiefbau GmbH have until March 25, 2008 to
register their claims with court-appointed insolvency manager
Klaus W. Gerling.

Creditors and other interested parties are encouraged to attend
the meeting at 9:50 a.m. on April 24, 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 1240
         12th Floor
         Luxemburger Str. 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:

         Klaus W. Gerling
         Mediapark 6 B
         50670 Cologne
         Germany

The District Court of Cologne opened bankruptcy proceedings
against Fossura Tiefbau GmbH on Feb. 5, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Fossura Tiefbau GmbH
         Attn: Guenther Reim, Manager
         Kempener Str. 54
         50733 Cologne
         Germany


GRAPACH ORIENTIERUNGSMITTEL: Claims Period Ends March 11
--------------------------------------------------------
Creditors of GRAPACH Orientierungsmittel GmbH have until
March 11, 2008, to register their claims with court-appointed
insolvency manager Christian Graf Brockdorff.

Creditors and other interested parties are encouraged to attend
the meeting at 11:40 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 Frankfurt (Oder)
         Hall 401
         Muellroser Chaussee 55
         15236 Frankfurt (Oder)
         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 Graf Brockdorff
         Friedrich-Ebert-Strase 36
         14469 Potsdam
         Germany

The District Court of Frankfurt (Oder) opened bankruptcy
proceedings against GRAPACH Orientierungsmittel GmbH on
Feb. 13, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         GRAPACH Orientierungsmittel GmbH
         Handwerkerstrasse 15
         15366 Dahlwitz-Hoppegarten
         Germany


INLO GMBH: Claims Registration Period Ends March 26
---------------------------------------------------
Creditors of INLO GmbH have until March 26 to register their
claims with court-appointed insolvency manager Dirk Wittkowski.

Creditors and other interested parties are encouraged to attend
the meeting at 11:10 a.m. on April 23, 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 Potsdam
          Hall 301
          Third Floor
          Nebenstelle Lindenstrasse 6
          14467 Potsdam
          Germany

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

The insolvency manager can be reached at:

          Dr. Dirk Wittkowski
          Kirchblick 11
          14129 Berlin
          Germany

The District Court of Potsdam opened bankruptcy proceedings
against INLO GmbH on Feb. 1, 2008.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

          INLO GmbH
          Attn: Johann Sacher, Manager
          Dortustrasse 68 a
          14467 Potsdam
          Germany


JOHANN LORENZ: Claims Registration Period Ends March 26
-------------------------------------------------------
Creditors of Johann Lorenz GmbH & Co. have until March 26, 2008,
to register their claims with court-appointed insolvency manager
Ulrich Pfeifer.

Creditors and other interested parties are encouraged to attend
the meeting at 2:00 p.m. on May 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 Fuerth
          Room 216
          II Dienstgebaude
          Baumenstrasse 28
          Fuerth
          Germany

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

The insolvency manager can be reached at:

          Ulrich Pfeifer
          Stadtpark 2
          90409 Nuremberg
          Germany
          Tel: 0911/9990990
          Fax: 0911/99909950

The District Court of Fuerth opened bankruptcy proceedings
against Johann Lorenz GmbH & Co. on Feb. 5, 2008.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

          Johann Lorenz GmbH & Co.
          Breiter Steig 16
          90768 Fuerth
          Germany


JUGENDWERKSTATT BAUHOF: Claims Registration Ends March 26
---------------------------------------------------------
Creditors of Jugendwerkstatt Bauhof des evangelischen
Kirchenkreises in den Franckeschen Stiftungen GmbH have until
March 26, 2008, to register their claims with court-appointed
insolvency manager Lucas F. Floether.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 a.m. on Feb. 23, 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:

          Dr. Lucas F. Floether
          Hansering 1
          D 06108 Halle
          Germany
          Tel: 0345/212220
          Fax: 0345/2122222

The District Court of Halle-Saalkreis opened bankruptcy
proceedings against Jugendwerkstatt Bauhof des evangelischen
Kirchenkreises in den Franckeschen Stiftungen GmbH on Jan. 31.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Jugendwerkstatt Bauhof des evangelischen
          Kirchenkreises in den Franckeschen Stiftungen GmbH
          Franckeplatz 1
          06110 Halle
          Germany


KARL KUEHN: Claims Registration Period Ends March 10
----------------------------------------------------
Creditors of Karl Kuehn, Bauunternehmung GmbH have until
March 10, 2008, to register their claims with court-appointed
insolvency manager Marc Schmidt-Thieme.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 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 Darmstadt
         Hall 4.312
         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:

         Marc Schmidt-Thieme
         Soldnerstr. 2
         68219 Mannheim
         Germany
         Tel: 0621/87708-0
         Fax: 0621/8770820

The District Court of Darmstadt opened bankruptcy proceedings
against Karl Kuehn, Bauunternehmung GmbH on Feb. 14, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Karl Kuehn, Bauunternehmung GmbH
         Attn: Karlheinz Kuehn, Manager
         Edith-Stein-Strasse 6
         68642 Buerstadt
         Germany


MAROC EXPRESS: Claims Registration Period Ends March 26
-------------------------------------------------------
Creditors of Maroc Express GmbH have until March 26, 2008, to
register their claims with court-appointed insolvency manager
Wolfgang Delhaes.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 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 Cologne
          Meeting Hall 14
          Ground Floor
          Luxemburger Strasse 101
          50939 Cologne
          Germany

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

The insolvency manager can be reached at:

          Dr. Wolfgang Delhaes
          Media Park 6 A
          50670 Cologne
          Germany

The District Court of Cologne opened bankruptcy proceedings
against Maroc Express GmbH on Jan. 29, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

          Maroc Express GmbH
          Wetzlarer Str. 1
          51105 Cologne
          Germany


MARTEN GMBH: Claims Registration Ends March 18
----------------------------------------------
Creditors of Marten GmbH have until March 18, 2008 to register
their claims with court-appointed insolvency manager Olaf
Handschuh.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 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 Bueckeburg
         Hall 4117
         Herminenstrasse 30
         31675 Bueckburg
         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:

         Olaf Handschuh
         Mindener Str. 6
         31675 Bueckeburg
         Germany
         Tel: 05722/1016
         Fax: 05722/9667410

The District Court of Bueckeburg opened bankruptcy proceedings
against Marten GmbH on Jan. 31, 2008.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Marten GmbH
         Attn: Heike Marten, Manager
         Bleekebrink 22
         31737 Rinteln
         Germany


MIKLA WARENHANDELS: Claims Registration Period Ends March 18
------------------------------------------------------------
Creditors of Mikla Warenhandels GmbH have until March 18, 2008,
to register their claims with court-appointed insolvency manager
Markus Ernestus.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on April 29, 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 4.310
         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:

         Markus Ernestus
         O 3, 11+12
         68165 Mannheim
         Germany
         Tel: 0621 / 5339220
         Fax: 0621 / 53392211

The District Court of Darmstadt opened bankruptcy proceedings
against Mikla Warenhandels GmbH on DATE.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Mikla Warenhandels GmbH
         Bahnstrasse 18-20
         69483 Wald-Michelbach
         Germany

         Attn: Karl-Heinz Schwanz, Manager
         Am Sonnigen Hang 28
         69483 Wald-Michelbach
         Germany


NEUBAU GMBH: Claims Registration Ends March 25
----------------------------------------------
Creditors of Neubau GmbH WICO & Co. Anlagen KG have until
March 25, 2008 to register their claims with court-appointed
insolvency manager Goetz Lautenbach.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on April 24, 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 Frankfurt (Main)
         Hall 2
         Building F
         Klingerstrasse 20
         60313 Frankfurt (Main)
         Germany

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

The insolvency manager can be reached at:

         Goetz Lautenbach
         Zeilweg 42, D
         60439 Frankfurt (Main)
         Germany
         Tel: 069/963761-0
         Fax: 069/963761145

The District Court of Frankfurt am Main opened bankruptcy
proceedings against Neubau GmbH WICO & Co. Anlagen KG on
Feb. 6, 2008.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Neubau GmbH WICO & Co. Anlagen KG
         Attn: Dr. Juergen Wilkendorf, Manager
         Nr. 1
         Darmstadter Landstrasse 199
         60598 Frankfurt (Main)
         Germany


PHOENIX IMMOBILIEN: Claims Registration Period Ends March 26
------------------------------------------------------------
Creditors of PHOENIX Immobilien & Service GmbH have until
March 26, 2008, to register their claims with court-appointed
insolvency manager Thomas Illy.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 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 Wiesbaden
          Hall E 36 A
          Third Floor
          Building E
          Moritzstrasse 5
          65185 Wiesbaden
          Germany

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

The insolvency manager can be reached at:

          Thomas Illy
          Kanzlei Thierhoff, Illy + Partner
          Taunusanlage 17
          60325 Frankfurt/Main
          Germany
          Tel: 069/97 99 53-0
          Fax: 069/97 99 53-99

The District Court of Wiesbaden opened bankruptcy proceedings
against PHOENIX Immobilien & Service GmbH on Jan. 24, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          PHOENIX Immobilien & Service GmbH
          Marktstr. 10
          65183 Wiesbaden
          Germany


PRESTIGE BAUTREUHAND: Claims Registration Ends March 25
-------------------------------------------------------
Creditors of Prestige Bautreuhand GmbH have until March 25, 2008
to register their claims with court-appointed insolvency manager
Hildegard A. Hoevel.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on May 5, 2008, at which time the
insolvency manager will present her first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Frankfurt (Main)
         Hall 2
         Building F
         Klingerstrasse 20
         60313 Frankfurt (Main)
         Germany

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

The insolvency manager can be reached at:

         Hildegard A. Hoevel
         Raimundstr. 98, D
         60320 Frankfurt/Main
         Germany
         Tel: 069/9454846-0
         Fax: 069/945484677
         Web site: http://www.rahuc.de/

The District Court of Frankfurt (Main) opened bankruptcy
proceedings against  Prestige Bautreuhand GmbH on Feb. 7, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Prestige Bautreuhand GmbH
         Hanauer Landstr. 423a
         60314 Frankfurt (Main)
         Germany

         Attn: Markus Kisser, Manager
         Graube 11
         38539 Mueden/Aller
         Germany


PROMOTIONAL INDUSTRIES: Creditors Must File Claims by March 25
--------------------------------------------------------------
Creditors of Promotional Industries Promosyon Ticaret GmbH have
until March 25, 2008, to register their claims with court-
appointed insolvency manager Wilhelm Klaas.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 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 Krefeld
         Meeting Hall H 131
         First Floor
         Nordwall 131
         47798 Krefeld
         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:

         Wilhelm Klaas
         Eichendorffstrasse 25
         47800 Krefeld
         Germany
         Tel: (02151) 80 58 0
         Fax: +4902151805858

The District Court of Krefeld opened bankruptcy proceedings
against Promotional Industries Promosyon Ticaret GmbH on Jan.
18, 2008.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Promotional Industries Promosyon Ticaret GmbH
         Moltkestr. 16
         47877 Willich
         Germany

         Attn: Frank Peter Cronau, Manager
         Norfer Weg 91
         41468 Neuss
         Germany


S.A.M. - FACTORY: Creditors Must File Claims by March 25
--------------------------------------------------------
Creditors of S. A. M. - Factory GmbH  have until March 25, 2008,
to register their claims with court-appointed insolvency manager
Ute Jacob.

Creditors and other interested parties are encouraged to attend
the meeting at 11:01 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 Flensburg
         Hall A 220
         Flensburg
         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:

         Ute Jacob
         Lorentzendamm 19
         24103 Kiel
         Germany

The District Court of Flensbug opened bankruptcy proceedings
against S. A. M. - Factory GmbH on Jan. 11.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         S. A. M. - Factory GmbH
         Attn: Wolfgang Mosler, Manager
         Nordring 5
         24850 Schuby
         Germany


SCHAAL HAUSBAU: Creditors Must File Claims by March 25
------------------------------------------------------
Creditors of Schaal Hausbau GmbH & Co. KG have until
March 25, 2008, to register their claims with court-appointed
insolvency manager Stephan Hoeltershinken.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on April 29, 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 Bueckeburg
         Hall 504
         Schulstr. 2
         31675 Bueckburg
         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:

         Stephan Hoeltershinken
         Marienstr. 126
         32425 Minden
         Germany

The District Court of Bueckeburg opened bankruptcy proceedings
against Schaal Hausbau GmbH & Co. KG on Feb.1 .  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         Schaal Hausbau GmbH & Co. KG
         Bahnhofstr. 76
         Helpsen
         Germany

         Attn: Olaf Schaal, Manager
         Teichstr. 7
         31691 Helpsen
         Germany


SCHWEDTER INDUSTRIEVERWERTUNGSGESELLSCHAFT: Claims Due March 25
---------------------------------------------------------------
Creditors of Schwedter Industrieverwertungsgesellschaft mbH &
Co.KG have until March 25, 2008, to register their claims with
court-appointed insolvency manager Falk Eppert.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on April 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 Frankfurt (Oder)
         Hall 401
         Muellroser Chaussee 55
         15236 Frankfurt (Oder)
         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:

         Falk Eppert
         Vietmannsdorfer Strasse 23
         17268 Templin
         Germany

The District Court of Frankfurt (Oder) opened bankruptcy
proceedings against Schwedter Industrieverwertungsgesellschaft
mbH & Co.KG on Jan. 28, 2008.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         Schwedter Industrieverwertungsgesellschaft mbH & Co.KG
         Bahnhofstrasse 1
         16303 Schwedt
         Germany


SSB GMBH: Claims Registration Ends March 25
-------------------------------------------
Creditors of SSB GmbH Autogen-Schneidbetrieb have until
March 25, 2008 to register their claims with court-appointed
insolvency manager Hans Wilhelm Bauer.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 a.m. on May 6, 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 Regensburg
         Hall 105
         Augustenstr. 5
         Regensburg
         Germany

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

The insolvency manager can be reached at:

         Hans Wilhelm Bauer
         Emmeramsplatz 6
         93047 Regensburg
         Germany
         Tel: 0941/29680-46
         Fax: 0941/2968045

The District Court of Regensburg opened bankruptcy proceedings
against SSB GmbH Autogen-Schneidbetrieb on Feb. 7, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         SSB GmbH Autogen-Schneidbetrieb
         Alte Straubinger Str. 27
         93055 Regensburg
         Germany


STOCKERT BEDACHUNGEN: Claims Registration Period Ends March 20
--------------------------------------------------------------
Creditors of Stockert Bedachungen GmbH have until March 20,
2008, to register their claims with court-appointed insolvency
manager Jan-Hendrik Pannenborg.

Creditors and other interested parties are encouraged to attend
the meeting at 8:45 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 Nordhorn
         Hall 42
         Seilerbahn 15
         48529 Nordhorn
         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:

         Jan-Hendrik Pannenborg
         Prollstrasse 1
         48529 Nordhorn
         Germany
         Tel: 05921/88750
         Fax: 05921/88752

The District Court of Nordhorn opened bankruptcy proceedings
against Stockert Bedachungen GmbH on Feb. 1, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Stockert Bedachungen GmbH
          Lingener Strasse 133
          48531 Nordhorn
          Germany


TAUNUS GMBH: Claims Registration Period Ends March 20
-----------------------------------------------------
Creditors of Taunus GmbH have until March 20, 2008, to register
their claims with court-appointed insolvency manager Helge
Wachsmuth.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on April 18, 2008, at which time the
insolvency manager will present his first report on the
insolvency proceedings.

The meeting of creditors will be held at:

         The District Court of Hildesheim
         Hall 124
         Main Building
         Kaiserstrasse 60
         31134 Hildesheim
         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:

          Helge Wachsmuth
          Alexanderstr. 2
          30159 Hannover
          Germany
          Tel: 0511/325095
          Fax: 0511/329934

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

The Debtor can be reached at:

         Taunus GmbH
         Brunker Stieg 7
         31061 Alfeld
         Germany


TBA GRUNER: Claims Registration Period Ends March 5
---------------------------------------------------
Creditors of  GmbH have until March 5, 2008, to register their
claims with court-appointed insolvency manager Volker Schmidt.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 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 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:

         Volker Schmidt
         Bahnhofstr. 29
         70372 Stuttgart
         Germany
         Tel: 0711/25 35 913
         Fax: 0711/25 35 91 55

The District Court of Stuttgart opened bankruptcy proceedings
against  GmbH on Feb. 14, 2008.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         TBA Gruner GmbH
         Lindenackerstr. 11
         71334 Waiblingen
         Germany


TILES & MORE: Claims Registration Period Ends March 26
------------------------------------------------------
Creditors of Tiles & More GmbH & Co. KG have until March 26,
2008, to register their claims with court-appointed insolvency
manager Andreas Sontopski.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 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 Muenster
          Meeting Hall 119 B
          First Floor
          Gerichtsstr. 2-6
          48149 Muenster
          Germany

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

The insolvency manager can be reached at:

          Andreas Sontopski
          Gnoiener Platz 10
          48493 Wettringen
          Germany
          Tel: 02557/9384-0
          Fax: +492557938450

The District Court of Muenster opened bankruptcy proceedings
against Tiles & More GmbH & Co. KG on Jan. 30, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Tiles & More GmbH & Co. KG
          Gronauer Strasse 176
          48599 Gronau
          Germany


TRANSPORT LOGISTIK: Claims Registration Period Ends March 20
------------------------------------------------------------
Creditors of Transport Logistik Union Frachtkontor und Handels
GmbH have until March 20, 2008, to register their claims with
court-appointed insolvency manager Dr. Andreas Ringstmeier.

Creditors and other interested parties are encouraged to attend
the meeting at 10:50 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 Cologne
         Meeting Hall 142
         First Floor
         Luxemburger Strasse 101
         50939 Cologne
         Germany

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

The insolvency manager can be reached at:

         Dr. Andreas Ringstmeier
         Magnusstr. 13
         50672 Cologne
         Germany

The District Court of Cologne opened bankruptcy proceedings
against Transport Logistik Union Frachtkontor und Handels GmbH
on Feb. 5, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

          Transport Logistik Union Frachtkontor und Handels GmbH
          Fuehlinger Weg 10
          50765 Cologne
          Germany


TRINCZEKS HOLZHOF: Claims Registration Period Ends March 20
-----------------------------------------------------------
Creditors of Trinczeks Holzhof GmbH Gross- und Einzelhandel have
until March 20, 2008, to register their claims with court-
appointed insolvency manager Hans-Peter Valentiner.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 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 Celle
         Hall 014
         First Floor
         Muehlenstrasse 4
         29221 Celle
         Germany

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

The insolvency manager can be reached at:

          Hans-Peter Valentiner
          Bahnhofstr. 30 A
          29221 Celle
          Germany
          Tel: 05141/28011
          Fax: 05141/24722
          E-mail: Rae_valentiner_blaha_buchholz@gmx.de

The District Court of Celle opened bankruptcy proceedings
against Trinczeks Holzhof GmbH Gross- und Einzelhandel on
Jan. 24, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         Trinczeks Holzhof GmbH Gross- und Einzelhandel
         Hermannsburger Strasse 55
         29348 Eschede
         Germany


UHLEMANN GMBH: Creditors Must File Claims by March 25
-----------------------------------------------------
Creditors of Uhlemann GmbH have until March 25, 2008, to
register their claims with court-appointed insolvency manager
Bruno Kuebler.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 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 Munich
         Meeting Hall 102
         Infanteriestr. 5
         80097 Munich
         Germany

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

The insolvency manager can be reached at:

         Bruno Kuebler
         Konrad-Zuse-Platz 1
         81829 Munich
         Germany

The District Court of Munich opened bankruptcy proceedings
against Uhlemann GmbH on Jan. 1, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Uhlemann GmbH
         Bahnhofstr. 12
         82299 Tuerkenfeld
         Germany


VERKEHRS-SYSTEM: Claims Registration Period Ends March 20
---------------------------------------------------------
Creditors of Verkehrs-System Consult GmbH have until March 20,
2008, to register their claims with court-appointed insolvency
manager Stephan Poppe.

Creditors and other interested parties are encouraged to attend
the meeting at 10:50 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 Halle (Saale)
         Hall 1.043
         Justizzentrum
         Thueringer Strasse 16
         06112 Halle (Saale)
         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:

          Stephan Poppe
          Emil-Eichhorn-Str. 1
          06114 Halle
          Germany
          Tel: 0345/530490
          Fax: 0345/5304926

The District Court of Halle (Saale) opened bankruptcy
proceedings against Verkehrs-System Consult GmbH on Jan. 31,
2008.  Consequently, all pending proceedings against the company
have been automatically stayed.

The Debtor can be reached at:

         Verkehrs-System Consult GmbH
         Reichardtstr. 21
         06114 Halle
         Germany


W. U. H. PAWLOWSKY: Claims Registration Period Ends March 20
------------------------------------------------------------
Creditors of W. u. H. Pawlowsky GmbH & Co. KG have until
March 20, 2008, to register their claims with court-appointed
insolvency manager Bruno FRAAS.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 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 Wuerzburg
         Meeting Hall 2
         Second Stock
         Virchowstr. 14
         Wuerzburg
         Germany

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

The insolvency manager can be reached at:

          Bruno FRAAS
          Heinestr. 7b
          97070 Wuerzburg
          Germany
          Tel: 0931/359800

The District Court of Wuerzburg opened bankruptcy proceedings
against W. u. H. Pawlowsky GmbH & Co. KG on Feb. 1, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         W. u. H. Pawlowsky GmbH & Co. KG
         Schondratal 42
         97782 Grafendorf
         Germany


WASSER & WARME: Creditors Must File Claims by March 25
------------------------------------------------------
Creditors of Wasser & Warme Heizung-Sanitar GmbH have until
March 25, 2008, to register their claims with court-appointed
insolvency manager Susanne Mueller.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 a.m. on April 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 Frankfurt (Oder)
         Hall 401
         Muellroser Chaussee 55
         15236 Frankfurt (Oder)
         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:

         Susanne Mueller
         Trade Center
         Zehmeplatz 11
         15230 Frankfurt (Oder)
         Germany

The District Court of Frankfurt (Oder) opened bankruptcy
proceedings against Wasser & Warme Heizung-Sanitar GmbH on
Feb. 4, 2008.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be reached at:

         Wasser & Warme Heizung-Sanitar GmbH
         Kastanienalle 50
         15344 Strausberg
         Germany


WERMERS BAUGESCHAFT: Claims Registration Period Ends March 11
-------------------------------------------------------------
Creditors of Wermers Baugeschaft GmbH have until March 11, 2008,
to register their claims with court-appointed insolvency manager
Stefan Meyer.

Creditors and other interested parties are encouraged to attend
the meeting at 11:15 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 Muenster
         Meeting Hall 101 B
         Gerichtsstr. 2-6
         48149 Muenster
         Germany

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

The insolvency manager can be reached at:

         Stefan Meyer
         Ostertorstr. 7
         32312 Luebbecke
         Germany
         Tel: 05741-337300
         Fax: +495741337338

The District Court of Muenster opened bankruptcy proceedings
against  Wermers Baugeschaft GmbH on Feb. 15, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Wermers Baugeschaft GmbH
         Erlenstiege 2
         48369 Saerbeck
         Germany

         Attn: Udo Wermers, Manager
         Erlenstiege 1
         48369 Saerbeck
         Germany


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


COLTRANE CLO: KPMG Appointed as Joint Receivers
-----------------------------------------------
Richard Heis and Ray Jackson of KPMG were appointed joint
receivers Coltrane CLO plc.  The appointment followed a fall in
the market value of the company's assets which led to the
triggering of default clauses under the terms of its bonds.

Coltrane plc has no employees and was set up as a market value
CLO (collateralized loan obligation) with a face value of EUR498
million, consisting of loans sold to a number of institutional
investors.

Receivers have been appointed to look at the various options for
Coltrane CLO plc and its assets.

"We look forward to discussing the various options for Coltrane
and its assets with creditors over the coming days, with a view
to maximizing the value of the portfolio," Richard Heis
disclosed.

KPMG LLP -- http://www.kpmg.co.uk/-- offers accounting, audit,
and tax-related services to customers in such target industries
as banking, media and entertainment, consumer products, health
care providers, insurance, and pharmaceuticals.

Headquartered in Dublin, Ireland, Coltrane CLO plc is a
collateralized loan company.


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I T A L Y
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ALITALIA SPA: Lazio Court Says Exclusive Sale Talks Legitimate
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The Italian Regional Administration Court of Lazio has confirmed
the legitimacy of the exclusive talks to sell the Italian
government's 49.9% stake in Alitalia S.p.A. to Air France-KLM
S.A., various reports say.

The ruling rejected an appeal filed by AirOne S.p.A. to the
Feb. 20, 2008, decision by the Italian Regional Administration
Court of Lazio that rejected it petition to declare null and
void a Dec. 28, 2007, decision of Italy's Ministry of Economy
and Finance to commence exclusive talks with Air France.

As reported in the TCR-Europe on Jan. 17, 2008, Alitalia and
Italy commenced exclusive sale talks with Air France-KLM.  The
carriers have until mid-March to reach an agreement, which
would be approved by the government.  Air France said it will
seek approval from the new Italian government chosen following
the April 13-14, 2008, snap elections, for any agreement to
acquire Italy's stake in Alitalia.

Air France managing director Pierre Henri Gourgeon that the
exclusive talks may go beyond the April elections due to various
procedural steps, Radiocor relates.

AirOne said it would present a binding offer once it wins its
appeal, adding that its offer would be financially backed by
Intesa Sanpaolo S.p.A., Goldman Sachs Group Inc., Morgan Stanley
and Nomura Holdings Plc.

TPG Inc. and Pirelli & S.p.A. chairman Marco Tronchetti Provera
may join AirOne in its Alitalia bid.  Reuters said MyChef may
also participate in the offer.  AirOne chairman Carlo Toto is
inviting businessmen from the Lombardy region to join the
airline's bid.