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 Tuesday, March 25, 2008, Vol. 9, No. 59 Headlines A U S T R I A ACAR MUSTAFA: Claims Registration Period Ends April 9 CHRISTIAN MUELLER: Claims Registration Period Ends April 2 E-CC CALL: Claims Registration Period Ends April 8 F.H.H. FORTUNA: Claims Registration Period Ends April 8 GRAFITEAM LLC: Claims Registration Period Ends April 8 HOLZBAU PFEIFER: Claims Registration Period Ends April 14 B E L G I U M MILACRON INC: Inks EUR27 Million Credit Pact with Lloyds TSB TENNECO INC: Extended AAM Strike Cues S&P's Negative Watch F R A N C E RHODIA SA: Sells Isocyanates Businesses to Perstorp Group RHODIA SA: Completes Portfolio Refocusing After Isocyanates Sale G E R M A N Y BAYSIS ENTERTAINMENT: Claims Registration Period Ends April 14 COPY-SERVICE-GMBH: Claims Registration Period Ends April 11 DCS UNTERNEHMENSNAHE: Claims Registration Period Ends April 11 DONGES STAHLBAU: Files for Creditor Protection Owe to Insolvency GORDON´S HAUSBAU: Claims Registration Period Ends April 11 GEORG HOEHLEIN: Claims Registration Ends April 14 GOTTSMANN-RUBY: Claims Registration Period Ends April 11 GRASSEL-HOFMANN: Claims Registration Period Ends April 11 HERRMANN METALLTECHNIK: Claims Registration Period Ends March 31 HOBA GMBH: Claims Registration Period Ends March 31 KARA P.L.: Claims Registration Ends April 14 KORNMANN GMBH: Claims Registration Period Ends April 10 KUEFNER BAUUNTERNEHMUNG: Claims Registration Ends April 11 LA SCALA: Claims Registration Period Ends April 11 LANGNER FLEISCH: Claims Registration Ends April 14 M & B MANAGEMENT: Claims Registration Period Ends April 11 MOEHRING PERSONAL-MANAGEMENT: Claims Period Ends March 31 MULTI CLEANSERVICE: Claims Registration Ends April 14 OEKOKOST GMBH: Claims Registration Ends April 14 REIS GMBH: Claims Registration Period Ends April 13 SAC-SWITCHING: Claims Registration Period Ends April 11 SBF STADTBAU: Claims Registration Ends April 14 SUEDDEUTSCHE MESSER: Claims Registration Period Ends March 31 TEXTILWERK GEBRUEDER: Claims Registration Period Ends April 14 VISTEON CORP: Alex J. Mandl Elected to Board of Directors WEST MAIL: Claims Registration Period Ends April 13 H U N G A R Y PROPEX INC: Board Names Woody McGee as New President and CEO I R E L A N D MEDIASATELLITE IRELAND: Goes Into Liquidation MEDIASATELLITE IRELAND: To Meet with Creditors on April 2 OMEGA CAPITAL: Moody's Cuts Rating on EUR10.5MM Class B Notes WR GRACE: Smaller DIP Loan Approved; Some Lenders Back Out I T A L Y ALITALIA SPA: Lufthansa Mulls Joining AirOne's Counterbid PARMALAT SPA: Bologna Ruling Faces Appeal at Higher Court PARMALAT SPA: Shareholders Submit Board Nominees TISCALI SPA: Commences Buyback Program for 3.59 Million Shares K A Z A K H S T A N ACFA-SERVICE LLP: Creditors Must File Claims by April 18 AIK CO: Claims Deadline Slated for April 18 AMBASSADOR LLP: Claims Filing Period Ends April 18 EKIBASTUZ REM: Creditors' Claims Due on April 18 GS SERVICE: Claims Registration Ends April 18 MSDS LLP: Creditors Must File Claims by April 18 NEW-MEDIA LLP: Claims Deadline Slated for April 18 NIYAZ & K: Claims Filing Period Ends April 18 NUR I REN: Creditors' Claims Due on April 18 OLJAS-M LLP: Claims Registration Ends April 18 K Y R G Y Z S T A N EURO-EXIM-ASIA INTERNATONAL: Claims Filing Period Ends April 18 KURULUSH ENERGO: Creditors Must File Claims by April 18 N E T H E R L A N D S ELM B.V.: Moody's Lowers Ratings on Two Note Series to Ba2 ROMPETROL GROUP: Opens New LPG Filling Station in Romania R O M A N I A ROMPETROL GROUP: Opens New LPG Filling Station in Vladimirescu R U S S I A AESK-AGRO CJSC: Court Starts Bankruptcy Supervision Procedure COMSTAR-UNITED: Names Vladimir Alaev as TNGS General Manager GAS-SERVICE LLC: Tambov Bankruptcy Hearing Slated for April 21 KALACHA-AGRO-TRANS: Bankruptcy Hearing Slated for April 24 LADA-GUARANTEE: Court Starts Bankruptcy Supervision Procedure LEN-STROY-PROJECT: Bankruptcy Hearing Slated for April 16 MAMONTOVSKAYA SEL-KHOZ-TEKHNIKA: Court Hearing Set for June 23 OBRAZTSOVO CJSC: Court Names V. Zilev as Insolvency Manager ROSNEFT OIL: Delays Bond Issues Due to Market Conditions SEVERSTAL OAO: Acquiring Sparrows Point for US$810 Million TATA MOTORS: Should Seal the Ford Deal on Wednesday, Report Says S P A I N AYT COLATERALES: Moody's Puts (P)Ba2 Rating on Series D Notes FTA SANTANDER: Moody's Puts (P)C Rating on Series F Notes S W I T Z E R L A N D BALANCE LLC: Creditors' Liquidation Claims Due by March 31 BRROLO HOLDING: Creditors' Liquidation Claims Due by March 31 CONSTRUMAT HANDEL: Zug Court Starts Bankruptcy Proceedings FININSERV LLC: Creditors' Liquidation Claims Due by May 5 HOUSE OF HIRSCHBERK: Creditors' Liquidation Claims Due by June 2 IATROGEN JSC: Creditors' Liquidation Claims Due by April 1 INVEST PROGRESS: Zug Court Starts Bankruptcy Proceedings KENCEY LLC: Creditors' Liquidation Claims Due by April 9 SILBERSTEIN & PARTNER: Zug Court Starts Bankruptcy Proceedings SWISS IMAGING: Zurich Court Starts Bankruptcy Proceedings U K R A I N E ALERON-TRADE LLC: Creditors Must File Claims by March 27 AMITEKS LLC Creditors Must File Claims by March 27 DNIEPRO-KARGO LLC: Proofs of Claim Deadline Set March 27 EQUIPMENT-SET LLC: Creditors Must File Claims by March 27 KLARITA LLC: Proofs of Claim Deadline Set March 27 ORCHID LLC: Creditors Must File Claims by March 27 PROJECT-BUILDING ENTERPRISE: Creditors' Claims Due March 27 RUSSIAN-UKRAINIAN TRADING: Creditors' Claims Due March 27 SPORTSYMBOL AND C: Creditors Must File Claims by March 27 U N I T E D K I N G D O M BAA LTD: Airlines Demand Review of CAA Over Landing Charges BRITISH AIRWAYS: CEO Still Considers Bid for Iberia CALEDONIAN MACBRAYNE: May Go Bankrupt Over Illegal Subsidies CARTER AND CARTER: Cancels Trading of Ordinary Shares CHRYSLER LLC: Expects U.S. Sales to Drop in March 2008 DAVID UNDERWOOD: Appoints Joint Administrators from P&A FORD MOTOR: Tata to Close Jaguar & Land Rover Acquisition EMTEC LTD: Brings In Deloitte to Administer Assets GAP INVEST: Taps Joint Administrators from PwC INTERNATIONAL SECTIONS: Calls In Liquidators from Moore Stephens NEXAGENT LTD: Appoints Joint Administrators from Tenon NORTHERN ROCK: UKSA Launches Legal Action Over Compensation SIRVA INC: Court Approves Sale of UK and Ireland Units WEARSIDE DISABLEMENT: Brings In Liquidators from Tenon Recovery * Large Companies with Insolvent Balance Sheet ********* ============= A U S T R I A ============= ACAR MUSTAFA: Claims Registration Period Ends April 9 ----------------------------------------------------- Creditors owed money by KEG Acar Mustafa (FN 192770k) have until April 9, 2008, to file written proofs of claim to court- appointed estate administrator Felix Stortecky at: Dr. Felix Stortecky c/o Dr. Guenther Hoedl Schulerstrasse 18 1010 Vienna Austria Tel: 513 88 37 E-mail: office@stortecky.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 10:10 a.m. on April 23, 2008, for the examination of claims. The meeting of creditors will be held at: The Trade Court of Vienna Room 1707 Vienna Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Feb. 21, 2008 (Bankr. Case No. 2 S 21/08p). Guenther Hoedl represents Dr. Stortecky in the bankruptcy proceedings. CHRISTIAN MUELLER: Claims Registration Period Ends April 2 ---------------------------------------------------------- Creditors owed money by OEG Christian Mueller have until April 2, 2008, to file written proofs of claim to court- appointed estate administrator Herwig Ernst at: Dr. Herwig Ernst c/o Dr. Robert Zauchinger Hauptplatz 32 2100 Korneuburg Austria Tel: 02262/72 3 17, 75 1 29 Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:30 a.m. on April 16, 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 Ernstbrunn, Austria, the Debtor declared bankruptcy on Feb. 21, 2008 (Bankr. Case No. 36 S 21/08t). Robert Zauchinger represents Dr. Ernst in the bankruptcy proceedings. E-CC CALL: Claims Registration Period Ends April 8 -------------------------------------------------- Creditors owed money by LLC e-cc call center (FN 260069f) have until April 8, 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, 776252 Fax: 0732/776234 E-mail: hackl.hatak@aon.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:00 a.m. on April 22, 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. 21, 2008 (Bankr. Case No. 17 S 11/08d). F.H.H. FORTUNA: Claims Registration Period Ends April 8 ------------------------------------------------------- Creditors owed money by LLC F.H.H. Fortuna-Haus Handel (FN 266983y) have until April 8, 2008, to file written proofs of claim to court-appointed estate administrator Karl Schirl at: Dr. Karl Schirl c/o Mag. Markus Siebinger Krugerstrasse 17/3 1010 Vienna Austria Tel: 513 22 31 Fax: 513 22 31-1 E-mail: dr.karl.schirl@der-rechtsanwalt.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:45 a.m. on April 22, 2008, for the examination of claims. The meeting of creditors will be held at: The Trade Court of Vienna Room 1606 Vienna Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Feb. 21, 2008 (Bankr. Case No. 4 S 22/08z). Markus Siebinger represents Dr. Schirl in the bankruptcy proceedings. GRAFITEAM LLC: Claims Registration Period Ends April 8 ------------------------------------------------------ Creditors owed money by LLC Grafiteam (FN 128801p) have until April 8, 2008, to file written proofs of claim to court- appointed estate administrator Judith Eisenberg-Mirecki at: Mag. Judith Eisenberg-Mirecki Reisnerstrasse 25 1030 Vienna Austria Tel: 714 82 44 Fax: 714 82 44 E-mail: ra.eisenberg-mirecki@aon.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:30 a.m. on April 22, 2008, for the examination of claims. The meeting of creditors will be held at: The Trade Court of Vienna Room 1606 Vienna Austria Headquartered in Vienna, Austria, the Debtor declared bankruptcy on Feb. 21, 2008 (Bankr. Case No. 4 S 21/08b). HOLZBAU PFEIFER: Claims Registration Period Ends April 14 --------------------------------------------------------- Creditors owed money by LLC Holzbau Pfeifer (FN 211893h) have until April 14, 2008, to file written proofs of claim to court- appointed estate administrator Friedrich Filzmaier at: Mag. Friedrich Filzmaier Herrengasse 22 8010 Graz Austria Tel: 0316/82 02 02 Fax: 0316/82 02 02-20 E-mail: filzmaier@mekf.at Creditors and other interested parties are encouraged to attend the creditors' meeting at 9:30 a.m. on April 29, 2008, for the examination of claims. The meeting of creditors will be held at: The Land Court of Graz Hall K Room 205 Second Floor Graz Austria Headquartered in Grosspesendorf, Austria, the Debtor declared bankruptcy on Feb. 21, 2008 (Bankr. Case No. 40 S 11/08b). ============= B E L G I U M ============= MILACRON INC: Inks EUR27 Million Credit Pact with Lloyds TSB ------------------------------------------------------------ Milacron Inc. has signed a five-year, asset-based revolving credit program through which Lloyds TSB Group plc will provide as much as EUR27 million of aggregate financing to certain Milacron operations in Europe for working capital purposes. "This new ABL (asset based lending) program will allow us to replace some shorter-term credit commitments while providing incremental financing for our global working capital needs, including meeting our pension funding obligations," said Ross A. Anderson, Milacron senior vice president and chief financial officer. "Because of the substantial inter-company indebtedness created by our U.S. refinancing of European bonds in 2004, we will be able to apply the proceeds to these obligations in a tax-efficient manner," he added. "We are delighted to provide this new facility to Milacron across their major operating areas in Western Europe," said Martin Ward, International Development Director, Lloyds TSB Commercial Finance. "Once again we are seeing the relevance of ABL facilities to growing multinational companies throughout Europe, and this deal reconfirms the logic of us building Lloyds TSB's International footprint in the ABL sector through our Commercial Finance operations." The credit program consists of two parts: asset-secured loans to Milacron subsidiaries in Germany, Holland and Belgium and an accounts receivable factoring facility between Milacron's German operations and Lloyds TSB Commerce Finance. Based on current asset levels, total borrowing and factoring capacity under the new program when fully operational is expected to exceed EUR20 million. Principal terms of the program are being filed with the U.S. Securities and Exchange Commission. About Lloyds TSB Lloyds TSB Commercial Finance is part of the Lloyds TSB Group. Its services can meet the needs of businesses ranging from start-up through to major global PLCs. Its approach to asset backed lending (ABL) means that customers benefit from a far more tailored approach to finance, where different elements of ABL can be added to the funding mix according to the needs and lifestage of the individual business. Asset backed lending offers a flexible and secure way for businesses to raise the finance they need for expansion, growth, MBOs, MBIs and other opportunities, against assets such as the debt book, stock, plant and machinery and property. About Milacron Headquartered in Cincinnati, Ohio, Milacron Inc. -- http://www.milacron.com/-- is a global manufacturer and supplier of plastics-processing equipment and related supplies. Milacron is also one of the largest global manufacturers of synthetic water-based industrial fluids used in metalworking applications. The company has major manufacturing facilities in Brazil, North America, Belgium, Canada, Italy, and South Korea. As of Dec. 31, 2007, the company's balance sheet showed total assets of US$592.9 million and total liabilities of US$644 million, resulting in a US$51.1 million stockholders' deficit. Deficit, at Dec. 31, 2006, was US$21.3 million. * * * As reported in the Troubled Company Reporter-Europe on Dec. 27, 2007, Moody's Investors Service lowered the ratings of Milacron Inc. Corporate Family, to Caa2 from Caa1; Probability of Default, to Caa2 from Caa1; and senior secured notes, to Caa2 from Caa1. The lowered ratings reflect the company's weak credit metrics and ongoing cash flow pressures. TENNECO INC: Extended AAM Strike Cues S&P's Negative Watch ---------------------------------------------------------- Standard & Poor's Ratings Services placed the ratings on General Motors Corp., American Axle & Manufacturing Holdings Inc., Lear Corp., and Tenneco Inc. on CreditWatch with negative implications. The CreditWatch placement reflects S&P's decision to review the ratings in light of the extended American Axle (BB/Watch Neg/--) strike. Tenneco's website discloses that the company's senior debt is currently rated 'BB-' by S&P. The work stoppage that began Feb. 25 at American Axle's U.S. United Auto Workers plants has forced closure of many GM (B/Watch Neg/--) plants, as well as plants of certain GM suppliers. The strike began after the expiration of the four- year master labor agreement with American Axle. Although S&P still expect American Axle and the UAW to reach an agreement that will reflect more competitive labor costs, the timing is unknown. The two sides resumed negotiations last week. "We believe the strike has gone on long enough to possibly begin to affect the financial resources of GM and those suppliers most exposed to the automaker," said Standard & Poor's credit analyst Robert Schulz. To resolve the CreditWatch listings, Standard & Poor's will assess the strike's impact on the companies' credit profiles, particularly liquidity, once production resumes. S&P could lower the ratings any time prior to a resolution of the Axle strike if the liquidity of the companies becomes compromised, although downgrades are not likely for another several weeks. Based in Lake Forest, Illinois, Tenneco Inc., (NYSE: TEN) -- http://www.tenneco.com/-- manufactures automotive ride and emissions control products and systems for both the original equipment market and aftermarket. Brands include Monroe(R), Rancho(R), and Fric Rot ride control products and Walker(R) and Gillet emission control products. The company has operations in Argentina, Japan, and Germany, with its European operations headquartered in Brussels, Belgium. The company has approximately 21,000 employees worldwide. =========== F R A N C E =========== RHODIA SA: Sells Isocyanates Businesses to Perstorp Group --------------------------------------------------------- Rhodia S.A. and Lyondell Chime TDI SCA announced, March 19, 2008, that they have entered into exclusive negotiations for the sale of their Isocyanates businesses to the Perstorp Group. This divestment project includes Rhodia’s aliphatic Isocyanates activity producing a range of intermediates for industrial paints and coatings; and Lyondell’s aromatic isocyanates business with the production of intermediates for polyurethane foams, operated under contract by Rhodia. These activities are essentially based in Pont-de-Claix, France and in Freeport, USA and together employ around 680 people. The finalization of this divestment project should take place over the next few months, once consultations with the employees’ representatives have been completed and the necessary authorizations required by law have been obtained. Headquartered in The Netherlands, Lyondell Chime TDI SCA -- http://www.lyondellbasell.com/-- is an affiliate of LyondellBasell Industries, one of the world's largest polymers, petrochemicals and fuels companies. LyondellBasell the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; a significant producer of advanced fuel products; and the owner of one of North America's largest full-conversion refineries. LyondellBasell is privately owned by Access Industries. Perstorp Group is a front-ranking player in the specialty chemicals industry. The group is present, in particular, in the markets for Paints & Coatings, Plastics, Agro-food and Lubricants. Perstorp has approximately 2,000 employees on a dozen production sites in Europe, Asia, North and South America and runs three research & development centers in Sweden, Finland and India. The group generated net sales of EUR928 million in 2007. About Rhodia Headquartered in Paris, France, Rhodia S.A. (NYSE: RHA) -- http://www.rhodia.com/-- is a global specialty chemicals company partnering with major players in the automotive, electronics, pharmaceuticals, agrochemicals, consumer care, tires, and paints and coatings markets. Rhodia offers tailor- made solutions combining original molecules and technologies to respond to customers' needs. The group generated sales of EUR4.8 billion in 2006 and employs around 16,000 people worldwide. Rhodia is listed on Euronext Paris and the New York Stock Exchange. The company has operations in Brazil. * * * As of Feb. 19, 2008, Rhodia S.A. carries Moody's long-term corporate family rating of Ba3 and senior unsecured debt rating of B1 with positive outlook. The company also carries Standard & Poor's BB- long-term foreign and local issuer credit ratings, and B short-term foreign and local issuer credit ratings. The ratings outlook is stable. Fitch Ratings assigned long-term issuer default rating at BB- and senior unsecured debt rating at BB- with outlook positive. RHODIA SA: Completes Portfolio Refocusing After Isocyanates Sale ---------------------------------------------------------------- Rhodia S.A. announced, March 19, 2008, it has entered into exclusive negotiations for the sale of the Isocyanates business to the Perstorp Group. This business is expected to be classified in discontinued operations from first quarter of 2008. This divestment project will lead to a break-up of the Rhodia organics enterprise. The core Diphenols business that has strong worldwide leadership positions and excellent profitability will join Rhodia Silcea. The remaining fine organics businesses which are under strategic review or for which restructuring and closure plans have previously been announced will be incorporated in a specific business unit within 'Corporate & Others' until completion. The group will now be comprised of six core enterprises. This divestment project is the last major step in the refocusing of the group’s portfolio and will enhance its financial structure. "Our business portfolio which is now made up of strong and longstanding leadership positions in high growth markets together with our confirmed pricing power give us confidence to meet the challenges of 2008 and beyond," Jean-Pierre Clamadieu, Rhodia chairman and CEO, disclosed. About Rhodia Headquartered in Paris, France, Rhodia S.A. (NYSE: RHA) -- http://www.rhodia.com/-- is a global specialty chemicals company partnering with major players in the automotive, electronics, pharmaceuticals, agrochemicals, consumer care, tires, and paints and coatings markets. Rhodia offers tailor- made solutions combining original molecules and technologies to respond to customers' needs. The group generated sales of EUR4.8 billion in 2006 and employs around 16,000 people worldwide. Rhodia is listed on Euronext Paris and the New York Stock Exchange. The company has operations in Brazil. * * * As of Feb. 19, 2008, Rhodia S.A. carries Moody's long-term corporate family rating of Ba3 and senior unsecured debt rating of B1 with positive outlook. The company also carries Standard & Poor's BB- long-term foreign and local issuer credit ratings, and B short-term foreign and local issuer credit ratings. The ratings outlook is stable. Fitch Ratings assigned long-term issuer default rating at BB- and senior unsecured debt rating at BB- with outlook positive. ============= G E R M A N Y ============= BAYSIS ENTERTAINMENT: Claims Registration Period Ends April 14 -------------------------------------------------------------- Creditors of Baysis Entertainment GmbH have until April 4, 2008, to register their claims with court-appointed insolvency manager Thomas Linse. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on May 20, 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 Bamberg Meeting Hall 317 Synagogenplatz 1 96047 Bamberg 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 Linse Rosenauer Str. 22 96450 Coburg Germany Tel: 09561/8034-0 Fax: 09561/8034-34 The District Court of Bamberg opened bankruptcy proceedings against Baysis Entertainment GmbH on March 12, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Baysis Entertainment GmbH Attn: Evelina Mircev, Manager Kaiserstrasse 4 96169 Lauter Germany COPY-SERVICE-GMBH: Claims Registration Period Ends April 11 ----------------------------------------------------------- Creditors of Copy-Service-GmbH have until April 11, 2008, to register their claims with court-appointed insolvency manager Ulrike Hoge-Peters. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on May 21, 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 Rostock Hall 330 Zochstrasse 13 18057 Rostock 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: Ulrike Hoge-Peters Rosa-Luxemburg-Strasse 8 18055 Rostock Germany The District Court of Rostock opened bankruptcy proceedings against Copy-Service-GmbH on March 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Copy-Service-GmbH Attn: Shirena Kuhr, Manager Fritz-Reuter-Strasse 34a 18119 Warnemuende Germany DCS UNTERNEHMENSNAHE: Claims Registration Period Ends April 11 -------------------------------------------------------------- Creditors of DCS Unternehmensnahe Dienstleistungen GmbH have until April 11, 2008, to register their claims with court- appointed insolvency manager Dr. Christian Willmer. Creditors and other interested parties are encouraged to attend the meeting at 9:10 a.m. on May 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 Verden (Aller) Hall 214 Main Building Johanniswall 8 27283 Verden (Aller) 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. Christian Willmer Georgstr. 5 27283 Verden Germany The District Court of Verden (Aller) opened bankruptcy proceedings against DCS Unternehmensnahe Dienstleistungen GmbH on March 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: DCS Unternehmensnahe Dienstleistungen GmbH Verdener Strasse 12 27308 Kirchlinteln Germany DONGES STAHLBAU: Files for Creditor Protection Owe to Insolvency ---------------------------------------------------------------- Donges Stahlbau GmbH is seeking protection from its creditors citing that it is insolvent, Earthtimes.org reports. The company had been forced to incur debt in order to address the increasing prices of steel used in projects, the report adds. Headquartered in Darmstadt, Germany, Donges Stahlbau GmbH is in the business of construction. GORDON´S HAUSBAU: Claims Registration Period Ends April 11 ---------------------------------------------------------- Creditors of Gordon´s Hausbau GmbH have until April 11, 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 9:00 a.m. on May 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 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 Gordon´s Hausbau GmbH on Feb. 20, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Gordon´s Hausbau GmbH Moehnestrasse 32 59755 Arnsberg Germany GEORG HOEHLEIN: Claims Registration Ends April 14 ------------------------------------------------- Creditors of Georg Hoehlein GmbH have until April 14, 2008 to register their claims with court-appointed insolvency manager Rolf Sperling. Creditors and other interested parties are encouraged to attend the meeting at 8:00 a.m. on May 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 Wolfratshausen Meeting Hall 3/I Bahnhofstrasse 18 Wolfratshausen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Rolf Sperling Loisach Ufer 23 82515 Wolfratshausen Germany Tel: 08171/99880 Fax: 08171/998877 The District Court of Wolfratshausen opened bankruptcy proceedings against Georg Hoehlein GmbH on Feb. 28, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Georg Hoehlein GmbH Bergwerkstr. 2 83734 Hausham Germany GOTTSMANN-RUBY: Claims Registration Period Ends April 11 -------------------------------------------------------- Creditors of Gottsmann-Ruby GmbH have until April 11, 2008, to register their claims with court-appointed insolvency manager Prof. Dr. Bernd Schneiderbanger. Creditors and other interested parties are encouraged to attend the meeting at 1:00 p.m. on May 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 Hof Meeting Hall 012 Ground Floor Berliner Platz 1 95030 Hof 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. Dr. Bernd Schneiderbanger Kreuz-steinstrasse 41 95028 Hof Germany Tel: 09281/71550 Fax: 09281/715555 The District Court of Hof opened bankruptcy proceedings against Gottsmann-Ruby GmbH on Feb. 18, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Gottsmann-Ruby GmbH Oelsnitzer Str. 48 95185 Gattendorf Germany GRASSEL-HOFMANN: Claims Registration Period Ends April 11 --------------------------------------------------------- Creditors of Grassel-Hofmann GmbH have until April 11, 2008, to register their claims with court-appointed insolvency manager Joachim Exner. Creditors and other interested parties are encouraged to attend the meeting at 1:00 p.m. on May 13, 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 Hof Meeting Hall 012 Ground Floor Berliner Platz 1 95030 Hof 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: Joachim Exner Ludwigstr. 50 95028 Hof Germany Tel: 09281/8331080 Fax: 09281/8331089 The District Court of Hof opened bankruptcy proceedings against Grassel-Hofmann GmbH on Feb. 13, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Grassel-Hofmann GmbH Oelsnitzer Str. 48 95185 Gattendorf Germany HERRMANN METALLTECHNIK: Claims Registration Period Ends March 31 ---------------------------------------------------------------- Creditors of Herrmann Metalltechnik GmbH have until March 31, 2008, to register their claims with court-appointed insolvency manager Severin Kiesl. Creditors and other interested parties are encouraged to attend the meeting at 8:15 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 Rosenheim Room 210 Rosenheim 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: Severin Kiesl Stollstrasse 5 83022 Rosenheim Germany Tel: 08031/38096-0 Fax: 08031/13892 The District Court of Rosenheim opened bankruptcy proceedings against Herrmann Metalltechnik GmbH on March 12, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Herrmann Metalltechnik GmbH Am Muellnerberg 28 83129 Hoeslwang Germany HOBA GMBH: Claims Registration Period Ends March 31 --------------------------------------------------- Creditors of HOBA GmbH have until March 31, 2008, to register their claims with court-appointed insolvency manager Uwe Kassing. Creditors and other interested parties are encouraged to attend the meeting at 10:45 a.m. on April 21, 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 Lueneburg Hall 302 Am Ochsenmarkt 3 21335 Lueneburg 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: Uwe Kassing Pulverweg 1a 21337 Lueneburg Germany Tel: 0 700 800 800 25 Fax: 0 700 800 800 27 The District Court of Lueneburg opened bankruptcy proceedings against HOBA GmbH on March 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: HOBA GmbH Attn: Armin Beckemeyer, Manager Vor der Suelze 2-4 21335 Lueneburg Germany KARA P.L.: Claims Registration Ends April 14 --------------------------------------------- Creditors of Kara P.L. GmbH have until April 14, 2008 to register their claims with court-appointed insolvency manager Dr. Heiner Buss. Creditors and other interested parties are encouraged to attend the meeting on April 15, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Aurich Schlossplatz 2 26603 Aurich 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. Heiner Buss Hauptstrasse 169, D 26639 Wiesmoor Germany Tel: 04944/1033 Fax: 04944/912035 The District Court of Aurich opened bankruptcy proceedings against Kara P.L. GmbH on Feb. 4, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Kara P.L. GmbH Leeraner Strasse 89 26725 Emden Germany Attn: Ebru Kara, Manager Wilhelm-Leuscher-Str. 35 26725 Emden Germany KORNMANN GMBH: Claims Registration Period Ends April 10 ------------------------------------------------------- Creditors of Kornmann GmbH have until April 10, 2008, to register their claims with court-appointed insolvency manager Peter Depre. Creditors and other interested parties are encouraged to attend the meeting at 11:15 a.m. on May 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 Ludwigshafen am Rhein Meeting Hall XIII Wittelsbachstr. 10 67061 Ludwigshafen/Rhein 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 Depre O 4, 13-16 68161 Mannheim Germany The District Court of Ludwigshafen/Rhein opened bankruptcy proceedings against Kornmann GmbH on March 7, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Kornmann GmbH Attn: Monika Kornmann, Manager Westerstrasse 11 67126 Hochdorf-Assenheim Germany KUEFNER BAUUNTERNEHMUNG: Claims Registration Ends April 11 ---------------------------------------------------------- Creditors of Kuefner Bauunternehmung GmbH & Co. KG have until April 11, 2008, to register their claims with court-appointed insolvency manager Stefan Waldherr. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on May 20, 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 Nuremberg Meeting Hall 152/I Flaschenhofstr. 35 Nuremberg Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Stefan Waldherr Peuntgasse 3 90402 Nuremberg Germany Tel: 0911/27980-0 Fax: 0911/27980-90 The District Court of Nuremberg opened bankruptcy proceedings against Kuefner Bauunternehmung GmbH & Co. KG on March 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Kuefner Bauunternehmung GmbH & Co. KG Am Gruenberg 6 92318 Neumarkt Germany LA SCALA: Claims Registration Period Ends April 11 -------------------------------------------------- Creditors of La SCALA Import GmbH have until April 11, 2008, to register their claims with court-appointed insolvency manager Ernst Wiesner. 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 his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Dortmund Hall 3.201 Second Floor Gerichtsplatz 1 44135 Dortmund 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: Ernst Wiesner Schwanenwall 23 44135 Dortmund Germany The District Court of Dortmund opened bankruptcy proceedings against La SCALA Import GmbH on Feb. 15, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: La SCALA Import GmbH Attn: Egidio Cimini, Manager Bunte Bank 2 44227 Dortmund Germany LANGNER FLEISCH: Claims Registration Ends April 14 -------------------------------------------------- Creditors of Langner Fleisch- und Wurstmarkt GmbH have until April 14, 2008 to register their claims with court-appointed insolvency manager Dr. Bernd Peters. Creditors and other interested parties are encouraged to attend the meeting at 2:00 p.m. on May 5, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Delmenhorst Hall 2 Branch 1 Cramerstrasse 183 27749 Delmenhorst 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. Bernd Peters Wall 146 28195 Bremen Germany Tel: 0421/244009-0 Fax: 0421/244009-29 The District Court of Delmenhorst opened bankruptcy proceedings against Langner Fleisch- und Wurstmarkt GmbH on Feb. 12, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Langner Fleisch- und Wurstmarkt GmbH Weserstr. 6 a 27777 Ganderkesee Germany Attn: Werner Barth, Manager Waldstr. 33 27798 Hude Germany M & B MANAGEMENT: Claims Registration Period Ends April 11 ---------------------------------------------------------- Creditors of M & B Management & Beteiligung GmbH & Co. KG have until April 11, 2008, to register their claims with court- appointed insolvency manager Stephan Mitlehner. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on April 30, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Meiningen Hall 105 Lindenallee 15 Meiningen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Stephan Mitlehner Walter Benjamin Platz 6 10629 Charlottenburg Germany The District Court of Meiningen opened bankruptcy proceedings against M & B Management & Beteiligung GmbH & Co. KG on Feb. 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: M & B Management & Beteiligung GmbH & Co. KG Mittelbergstr. 1 98527 Suhl Germany MOEHRING PERSONAL-MANAGEMENT: Claims Period Ends March 31 --------------------------------------------------------- Creditors of Moehring Personal-Management GmbH have until March 31, 2008, to register their claims with court-appointed insolvency manager Horst Piepenburg. Creditors and other interested parties are encouraged to attend the meeting at 9:20 a.m. on April 21, 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 388 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: Horst Piepenburg Heinrich-Heine-Allee 20 40213 DuesseldorfForderungen Germany The District Court of Duesseldorf opened bankruptcy proceedings against Moehring Personal-Management GmbH on March 4, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Moehring Personal-Management GmbH Cecilienallee 63 40474 Duesseldorf Germany MULTI CLEANSERVICE: Claims Registration Ends April 14 ----------------------------------------------------- Creditors of Multi Cleanservice GmbH have until April 14, 2008 to register their claims with court-appointed insolvency manager Christian Koehler-Ma. Creditors and other interested parties are encouraged to attend the meeting at 10:15 a.m. on May 5, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Christian Koehler-Ma Kurfuerstendamm 26 a 10719 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Multi Cleanservice GmbH on March 3, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Multi Cleanservice GmbH Pasteurstrasse 13 10407 Berlin Germany OEKOKOST GMBH: Claims Registration Ends April 14 ------------------------------------------------ Creditors of OekoKost GmbH have until April 14, 2008 to register their claims with court-appointed insolvency manager Jens Koeke. Creditors and other interested parties are encouraged to attend the meeting at 11:00 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 Goettingen Hall B11 Berliner Strasse 8 37073 Goettingen Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Jens Koeke Obere Karspuele 36 37073 Goettingen Germany Tel: 0551/9003660 Fax: 0551/90036629 The District Court of Goettingen opened bankruptcy proceedings against OekoKost GmbH on March 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: OekoKost GmbH Attn: Helmut Schulze, Manager Levinstrasse 9 37079 Goettingen Germany REIS GMBH: Claims Registration Period Ends April 13 --------------------------------------------------- Creditors of Reis GmbH Aluminiumverarbeitung have until April 13, 2008, to register their claims with court-appointed insolvency manager Dirk Rueffert. Creditors and other interested parties are encouraged to attend the meeting on May 13, 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 Aurich Schlossplatz 2 26603 Aurich 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 Donnerschweer Str. 398 D 26123 Oldenburg Germany Tel: 0441/340770 Fax: 0441/34077340 The District Court of Aurich opened bankruptcy proceedings against Reis GmbH Aluminiumverarbeitung on Jan. 10, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Reis GmbH Aluminiumverarbeitung Breiter Weg 62 26603 Aurich Germany SAC-SWITCHING: Claims Registration Period Ends April 11 ------------------------------------------------------- Creditors of SAC-Switching and administrative Company-GmbH have until April 11, 2008, to register their claims with court- appointed insolvency manager Helgi Heumann. Creditors and other interested parties are encouraged to attend the meeting at 9:30 a.m. on May 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 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: Helgi Heumann Koenigsbruecker Str. 33 01099 Dresden Germany E-mail: http://www.raheumann.de/ The District Court of Dresden opened bankruptcy proceedings against SAC-Switching and administrative Company-GmbH on March 3, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: SAC-Switching and administrative Company-GmbH Rosa-Luxemburg-Str.2a 01844 Neustadt/Sa. Germany SBF STADTBAU: Claims Registration Ends April 14 ----------------------------------------------- Creditors of SBF Stadtbau GmbH have until April 14, 2008 to register their claims with court-appointed insolvency manager Stefan Denkhaus. Creditors and other interested parties are encouraged to attend the meeting at 10:00 a.m. on May 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 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: Stefan Denkhaus Jungfernstieg 30 20354 Hamburg Germany The District Court of Schwerin opened bankruptcy proceedings against SBF Stadtbau GmbH on March 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: SBF Stadtbau GmbH Attn: Dr. Detlef Thomsen, Manager Otto Weltzien-Strasse 15 19061 Schwerin Germany SUEDDEUTSCHE MESSER: Claims Registration Period Ends March 31 ------------------------------------------------------------- Creditors of Sueddeutsche Messer-, Sagen- und Werkzeugfabrik GmbH & Co. KG have until March 31, 2008, to register their claims with court-appointed insolvency manager Dr. Josef Scherer. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on May 13, 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 Straubing Room 216 Straubing 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. Josef Scherer Theresienplatz 29 94315 Straubing Germany Tel: 09421/3303930 The District Court of Straubing opened bankruptcy proceedings against Sueddeutsche Messer-, Sagen- und Werkzeugfabrik GmbH & Co. KG on March 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Sueddeutsche Messer-, Sagen- und Werkzeugfabrik GmbH & Co. KG Unterholzener Str. 2 - 4 94360 Mitterfels Germany TEXTILWERK GEBRUEDER: Claims Registration Period Ends April 14 -------------------------------------------------------------- Creditors of Textilwerk Gebrueder Bob Helmbrechts GmbH have until April 14, 2008, to register their claims with court- appointed insolvency manager Udo Feser. Creditors and other interested parties are encouraged to attend the meeting at 9:25 a.m. on June 13, 2008, at which time the insolvency manager will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Charlottenburg Hall 218 Second Floor Amtsgerichtsplatz 1 14057 Berlin Germany The Court will also verify the claims set out in the insolvency manager's report during this meeting, while creditors may constitute a creditors' committee or opt to appoint a new insolvency manager. The insolvency manager can be reached at: Udo Feser Uhlandstr. 165/166 10719 Berlin Germany The District Court of Charlottenburg opened bankruptcy proceedings against Textilwerk Gebrueder Bob Helmbrechts GmbH on Jan. 31, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: Textilwerk Gebrueder Bob Helmbrechts GmbH Josef-Witt-Str. 1 95233 Helmbrechts Germany VISTEON CORP: Alex J. Mandl Elected to Board of Directors --------------------------------------------------------- Alex J. Mandl has been elected to Visteon Corporation's board of directors, effective immediately. Mr. Mandl has nearly 40 years of leadership experience with global companies, including serving as president and chief operating officer of AT&T, and as chairman and chief executive officer of Sea-Land Services, Inc. Since December 2007, he has been non-executive chairman of the board of Gemalto, a global leader in digital security that is a newly merged company between Gemplus International and Axalto. Mr. Mandl had been president and CEO of Gemplus International since September 2002. "[Mr. Mandl] is a highly respected leader who has extensive experience helping guide global companies through strategic transformation and growth," Michael F. Johnston, Visteon chairman and chief executive officer, said. "Visteon will benefit greatly from his experience and insight." From April 2001 through August 2002, Mr. Mandl was a principal in ASM Investments, which focuses on early-stage funding for companies utilizing technology as a differentiator. Before that, he was chairman and CEO of Teligent, a company he started in 1996. Prior to Teligent, Mr. Mandl was with AT&T from 1990 to 1996, serving as group executive and chief financial officer before being named president and COO. Before joining AT&T, Mr. Mandl was chairman and CEO of Sea-Land Services, Inc., a leading global provider of containerized ocean transport and distribution services. He also served as a senior vice president with CSX, after beginning his career with Boise Cascade as a merger and acquisition analyst. Mr. Mandl currently serves on the boards of Gemalto, Dell Computer Corp., Hewitt Associates, Horizon Lines and Wilamette University. He has an MBA from the University of California at Berkeley and a bachelor's degree in economics from Wilamette University. Based in Van Buren Township, Michigan, Visteon Corp. (NYSE: VC) -- http://www.visteon.com/-- is a global automotive supplier that designs, engineers and manufactures innovative climate, interior, electronic, and lighting products for vehicle manufacturers, and also provides a range of products and services to aftermarket customers. The company's other corporate offices are in Shanghai, China; and Kerpen, Germany. The company has Latin America offices in Argentina, Brazil and Mexico. The company has facilities in 26 countries and employs approximately 43,000 people. * * * Moody's Investor Service placed Visteon Corp.'s long term corporate family and probability of default ratings at 'B3' in November 2006. The ratings still hold to date with a negative outlook. WEST MAIL: Claims Registration Period Ends April 13 --------------------------------------------------- Creditors of WEST MAIL Zustelldienst Euregio GmbH have until April 13, 2008, to register their claims with court-appointed insolvency manager Andreas Ringstmeier. Creditors and other interested parties are encouraged to attend the meeting at 11:30 a.m. on May 13, 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 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 Tel: 0221/650 660 Fax: +49221650661 The District Court of Cologne opened bankruptcy proceedings against WEST MAIL Zustelldienst Euregio GmbH on March 1, 2008. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be reached at: WEST MAIL Zustelldienst Euregio GmbH Attn: Michael Kiesswetter, Manager Alten Bahnhof 3 52457 Aldenhoven Germany ============= H U N G A R Y ============= PROPEX INC: Board Names Woody McGee as New President and CEO ------------------------------------------------------------ The board of directors of Propex Inc. appointed Woody McGee as the interim President and Chief Executive Officer of the company, effective March 17, 2008. Mr. McGee is a seasoned executive consultant with Cerberus Capital Management, L.P. and has extensive experience in executive management and the restructuring of companies in a wide variety of industries domestically and internationally. Mr. McGee's most recent assignment was helping Global Home Products, a US$550 million consumer products manufacturer and importer, successfully emerge from Chapter 11. Prior to Mr. McGee's relationship with Cerberus Capital Management, L.P. his career spanned 30 years with Litton Industries Inc. and Telxon Corporation. "I am truly excited to be joining Propex at this challenging time," Mr. McGee, president and CEO said. "My focus will be to work with the entire Propex team to best position the company to grow and prosper in the current marketplace while getting ready to capitalize on our future beyond Chapter 11." Mr. McGee replaces Joseph F. Dana who is retiring after more than 20 years of dedicated service to the Propex and Synthetic Industries families. "Joe's vision, commitment and team building philosophy have helped guide Propex for many years," Billy Oehmig, a representative of the board of directors, said. "At the wishes of the board, Joe has agreed to continue to provide the Company with advice and counsel. We extend our most heartfelt thanks, and wish him and his wife Tammy the best in the years to come." The company will provide updates regarding ongoing operations plans as they become available. Headquartered in Chattanooga, Tennessee, Propex Inc. -- http://www.propexinc.com/-- produces geosynthetic, concrete, furnishing, and industrial fabrics and fiber. It is produces primary and secondary carpet backing. Propex also has manufacturing facilities in Brazil, Mexico, Germany, Hungary and the United Kingdom. The company and its debtor-affiliates filed for Chapter 11 protection on Jan. 18, 2008 (Bankr. E.D. Tenn. Case No. 08- 10249). The debtors' has selected Edward L. Ripley, Esq., Henry J. Kaim, Esq., and Mark W. Wege, Esq. at King & Spalding, in Houston, Texas, to represent them. As of Sept. 30, 2007, the debtors' balance sheet showed total assets of US$585,700,000 and total debts of US$527,400,000. The Debtors' exclusive period to file a plan of reorganization expires on May 17, 2008. (Propex Bankruptcy News; Bankruptcy Creditors' Service Inc., http://bankrupt.com/newsstand/or 215/945-7000) ============= I R E L A N D ============= MEDIASATELLITE IRELAND: Goes Into Liquidation --------------------------------------------- Mediasatellite Ireland Ltd. has gone into liquidation after accumulating EUR4 million in losses, Laura Noonan of the Independent reports. According to CEO Rory Fitzpatrick, although the company had funding ready by December 2007, it faced problems by January 2008, the report adds. The company's liquidation, the report discloses, resulted in some 18 employees losing their jobs and subscribers having no access to satellite broadband connection. Mediasatellite has posted in its website -- http://b-dsl.net/-- that, "Due to unforeseen circumstances Mediasatellite Ireland Ltd is no longer in a position to service or support consumer satellite broadband." Headquartered in Cork City, Ireland, Mediasatellite Ireland Ltd. specializes in interactive broadband networks. MEDIASATELLITE IRELAND: To Meet with Creditors on April 2 --------------------------------------------------------- Mediasatellite Ireland Ltd. Discloses that it will meet with creditors at meeting scheduled on April 2, 2008, Laura Noonan of the Independent reports. At the meeting, the report says, the company will explain the reason behind the company's EUR1 million deficit. Headquartered in Cork City, Ireland, Mediasatellite Ireland Ltd. specializes in interactive broadband networks. OMEGA CAPITAL: Moody's Cuts Rating on EUR10.5MM Class B Notes ------------------------------------------------------------- Moody's Investors Service downgraded and left on review for further downgrade eight classes of notes issued by Omega Capital Europe Plc. The reference portfolio of this CDO transaction contains a significant proportion of US subprime RMBS bonds, particularly of the 2006 and 2007 vintages. Moody's announced on February 4, 2008 that it is revising its expected loss assumptions which are used for surveillance of ratings of ABS CDOs holding subprime RMBS, specifically of the 2006 vintage. Moody's stated that for purposes of monitoring its ratings of ABS CDOs with exposure to 2006 subprime RMBS, it will rely on certain projections of the lifetime average cumulative losses for 2006's quarterly vintages of RMBS set forth in a recent Moody's Special Report, "Moody's Updates Loss Projections for 2006 Subprime Loans." This report illustrates average loss results for the 2006 quarterly vintages under five distinct loss projection scenarios. Moody's explained that it will utilise the range of loss projections set forth in Scenarios 2 and 3 based on deal performance and quarterly vintage to modify its prior assumptions of the expected loss inputs when monitoring ABS CDO ratings. Moody's will continue to monitor all deals with exposure to US subprime RMBS, and will take further actions in respect of all CDOs placed under review for downgrade once the extent of actual downgrades to US RMBS vintages becomes known. The rating actions are: Omega Capital Europe Plc Series 41 (Sycamore): (1) EUR44,100,000 Class A Notes due 2047 Current Rating: Aa3, on review for downgrade Prior Rating: Aaa, on review for downgrade (2) US$20,000,000 Class A-Bis Notes due 2047 Current Rating: Aa3, on review for downgrade Prior Rating: Aaa, on review for downgrade (3) JPY2,000,000,000 Class A-J Notes due 2047 Current Rating: Aa3, on review for downgrade Prior Rating: Aaa, on review for downgrade (4) EUR10,500,000 Class B Notes due 2047 Current Rating: B2, on review for downgrade Prior Rating: A3, on review for downgrade (5) US$5,000,000 Class B-U Notes due 2047 Current Rating: B2, on review for downgrade Prior Rating: A3, on review for downgrade (6) EUR2,000,000 Class B-Fixed Notes due 2047 Current Rating: B2, on review for downgrade Prior Rating: A3, on review for downgrade (7) JPY1,000,000,000 Class B-J Notes due 2047 Current Rating: B2, on review for downgrade Prior Rating: A3, on review for downgrade (8) EUR20,000,000 Class C Notes due 2047 Current Rating: Baa3, on review for downgrade Prior Rating: Aa3, on review for downgrade WR GRACE: Smaller DIP Loan Approved; Some Lenders Back Out ---------------------------------------------------------- The Hon. Judith Fitzgerald of the United States Bankruptcy Court for the District of Delaware permitted W.R. Grace & Co. and its debtor-affiliates to obtain only up to US$200,000,000, of DIP Loans, instead of the US$250,000,000 that the Debtors sought after several lenders refused to continue extending loans to Grace, the Associated Press reports. Grace's counsel, Janet Baer, at Kirkland & Ellis LLP, told Judge Fitzgerald during a hearing that not all DIP Lenders signed on Grace's request to further extend the terms of the DIP Facility until April 2010, the AP said. The AP said that Ms. Baer blamed "the tightening of the credit industry" for the retreat of some banks that have offered DIP Loans to Grace since the company's Petition Date in 2001. The company's DIP Facility with Bank of America, as administrative agent for a syndicate of lenders, originally provided Grace access to US$250,000,000 of DIP Loans. As of Dec. 31, 2007, the Debtors had no outstanding borrowings under the DIP facility. The Debtors disclosed in regulatory filings with the Securities and Exchange Commission that US$56,300,000 of standby letters of credit, however, were issued and outstanding under the DIP facility as of December 31, 2007, which were issued mainly for trade-related matters like performance bonds, as well as certain insurance and environmental matters. Grace noted in papers filed with the Court that, as of Jan. 30, 2008, approximately US$58,500,000 in letters of credit issued pursuant to the DIP Facility remain outstanding. According to AP, Grace spokesman Greg Euston said in an e-mail that the company has no outstanding draw against the Chapter 11 loans. Grace explained in the regulatory filing that the outstanding amount of standby letters of credit, as well as other holdback provisions issued under the DIP facility reduces the borrowing availability to US$178,500,000 at December 31, 2007. Under the DIP facility, the Debtors are required to maintain US$50,000,000 of liquidity, in a combination of cash, cash equivalents and the net cash value of life insurance policies. The DIP Facility will expire on April 1, 2008. Grace has said in Court filings in mid-February that BofA has agreed to extend the DIP Facility until May 31, 2008, if the Court is unable to approve the DIP Amendments before April 1. Grace will pay BofA a fee of not more than US$100,000 for the Interim Extension. Grace, which sought protection under Chapter 11 of the Bankruptcy Code because of increasing asbestos claims, is in the middle of an estimation trial that seeks to determine how much the company will have to set aside to a trust to cover asbestos damages before it can exit from bankruptcy. The estimation trial is expected to wrap up in May. About W.R. Grace Headquartered in Columbia, Md., W.R. Grace & Co. (NYSE:GRA) -- http://www.grace.com/-- supplies catalysts and silica products, especially construction chemicals and building materials, and container products globally, including Argentina, Australia and Ireland. The Company and its debtor-affiliates filed for chapter 11 protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139). David M. Bernick, P.C., Esq., at Kirkland & Ellis, LLP, and Laura Davis Jones, Esq., at Pachulski Stang Ziehl & Jones, LLP, represent the Debtors in their restructuring efforts. The Debtors hired Blackstone Group, L.P., for financial advice. PricewaterhouseCoopers LLP is the Debtors' accountant. Stroock & Stroock & Lavan, LLP, and Duane Morris, LLP, represent the Official Committee of Unsecured Creditors. The Creditors Committee tapped Capstone Corporate Recovery LLC for financial advice. David T. Austern, the legal representative of future asbestos personal injury claimants, is represented by Orrick Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA. Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official Committee of Asbestos Personal Injury Claimants. The Asbestos Committee of Property Damage Claimants tapped Scott Baena, Esq., and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod, LLP, to represent it. Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel, LLP, represents the Official Committee of Equity Security Holders. The Debtors' filed their Chapter 11 Plan and Disclosure Statement on Nov. 13, 2004. On Jan. 13, 2005, they filed an Amended Plan and Disclosure Statement. The hearing to consider the adequacy of the Debtors' Disclosure Statement began on Jan. 21, 2005. The Debtors' exclusive period to file a chapter 11 plan expired on July 23, 2007. Estimation of W.R. Grace's asbestos personal injury liabilities commenced on January 14, 2008. At Dec. 31, 2006, the W.R. Grace's balance sheet showed total assets of US$3,620,400,000 and total debts of US$4,189,100,000. As of November 30, 2007, W.R. Grace's balance sheet showed total assets of US$3,335,000,000, and total debts of US$3,712,000,000. (W.R. Grace Bankruptcy News, Issue No. 154; Bankruptcy Creditors' Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000) ========= I T A L Y ========= ALITALIA SPA: Lufthansa Mulls Joining AirOne's Counterbid --------------------------------------------------------- Deutsche Lufthansa AG may join AirOne S.p.A. in a counteroffer for the Italian government's 49.9% stake in Alitalia S.p.A., Bloomberg News says, citing an unsourced La Stampa report. AirOne has declared it will submit an alternative bid for Alitalia in three weeks, stressing that it needs more time to draft a proposal since it was excluded from conducting due diligence on the national carrier, Agenzia Giornalistica Italia relates. "The Government has to decide if it wishes to receive other proposals because in such a complex operation it is impossible to present offers in the dark without at least a brief due diligence, lasting at least three weeks," AirOne said. Finance minister Tommaso Padoa-Schioppa, however, told The Financial Times that any new offer for Alitalia must be made in days, not weeks. "People keep dreaming there is more time, alternative buyers, alternative solutions," Mr. Padoa-Schioppa was quoted by FT as saying. "Alitalia has oxygen for a matter of weeks." As recently reported in the TCR-Europe, Alitalia and the present government have accepted Air France-KLM SA's binding offer, subject to several conditions including union approval. Air France, so far, has yet to convince the unions to accept its business plan, which foresees more than 2,000 job cuts. Former Prime Minister Silvio Berlusconi, expected to return to his post following thew upcoming election, has vowed to rejett Air France's offer, saying he prefer an Italian buyer for Alitalia. About Alitalia Headquartered in Rome, Italy, Alitalia S.p.A. -- http://www.alitalia.it/-- provides air travel services for passengers and air transport of cargo on national, international and inter-continental routes. The Italian government owns 49.9% of Alitalia. The company has operations in Argentina. Despite a EUR1.4 billion state-backed restructuring in 1997, Alitalia posted net losses of EUR256 million and EUR907 million in 2000 and 2001 respectively. Alitalia posted EUR93 million in net profits in 2002 after a EUR1.4 billion capital injection. The carrier booked annual net losses of EUR520 million in 2003, EUR813 million in 2004, EUR168 million in 2005, and EUR625.6 million in 2006. Italian Transport Minister Alessandro Bianchi has warned that Alitalia may file for bankruptcy if the current attempt to sell the government's 49.9% stake fails. PARMALAT SPA: Bologna Ruling Faces Appeal at Higher Court --------------------------------------------------------- Parmalat S.p.A. disclosed that an appeal has been filed to the Italian Corte di Cassazione against the decision of the Court of Appeal of Bologna which had affirmed the decision of the lower court that had approved the Concordata. It should be noted that the decision of the Court of Parma approving the Concordato is provisionally enforceable and produces its effects vis-a-vis all creditors for claims, facts, entitlements or causes preceding the opening of the extraordinary administration. The appeal of the decision does not suspend the effects of enforceability. As reported in the TCR-Europe on Jan. 21, 2008, the Appeal Court of Bologna rejected the appeal of a number of bondholders against the judgment that ratified the Parmalat Composition with Creditors. About Parmalat Headquartered in Milan, Italy, Parmalat S.p.A. -- http://www.parmalat.net/-- sells nameplate milk products that can be stored at room temperature for months. It also has about 40 brand product lines, which include yogurt, cheese, butter, cakes and cookies, breads, pizza, snack foods and vegetable sauces, soups and juices. The company's U.S. operations filed for chapter 11 protection on Feb. 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139). Gary Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal & Manges LLP, represent the Debtors. When the U.S. Debtors filed for bankruptcy protection, they reported more than US$200 million in assets and debts. The U.S. Debtors emerged from bankruptcy on April 13, 2005. Parmalat S.p.A. and its Italian affiliates filed separate petitions for Extraordinary Administration before the Italian Ministry of Productive Activities and the Civil and Criminal District Court of the City of Parma, Italy on Dec. 24, 2003. Dr. Enrico Bondi was appointed Extraordinary Commissioner in each of the cases. The Parma Court has declared the units insolvent. On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No. 04-14268, in the United States Bankruptcy Court for the Southern District of New York. Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat Capital Finance Ltd., and Food Holdings Ltd. Dairy Holdings and Food Holdings are Cayman Island special-purpose vehicles established by Parmalat S.p.A. The Finance Companies are under separate winding up petitions before the Grand Court of the Cayman Islands. Gordon I. MacRae and James Cleaver of Kroll (Cayman) Ltd. serve as Joint Provisional Liquidators in the cases. On Jan. 20, 2004, the Liquidators filed Sec. 304 petition, Case No. 04-10362, in the United States Bankruptcy Court for the Southern District of New York. In May 2006, the Cayman Island Court appointed Messrs. MacRae and Cleaver as Joint Official Liquidators. Gregory M. Petrick, Esq., at Cadwalader, Wickersham & Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon, Herlands Randolph, represent the Finance Companies in the Sec. 304 case. The Honorable Robert D. Drain presides over the Parmalat Debtors' U.S. cases. On June 21, 2007, the U.S. Court Granted Parmalat Permanent Injunction. PARMALAT SPA: Shareholders Submit Board Nominees ------------------------------------------------ Parmalat S.p.A.'s shareholders -- Angelo, Gordon & Co., L.P. Lehman Brothers International (Europe), MKM Longboat Strategy Master Fund Ltd., Stark Criterion Master Fund Ltd., Stark Global Opportunities Master Fund Ltd., Stark Master Fund Ltd., and Zenit Fund, representing 6.385% of the share capital, have deposited a list of candidates for the Board of Directors and Board of Statutory Auditors to be presented at the Shareholders’ meeting called for April 8 & 9, 2008, respectively in the first, and if necessary, in the second call. Board of Directors Nominees 1. Raffaele Picella, 2. Massimo Confortini (independent), 3. Enrico Bondi, 4. Vittorio Mincato (independent), 5. Marzio Saa (independent), 6. Carlo Secchi (independent), 7. Ferdinando Superti Furga (independent), 8. Piergiorgio Alberti (independent), 9. Marco De Benedetti (independent), 10. Andrea Guerra (independent), and 11. Erder Mingoli (independent) Board of Statutory Auditors Candidates Effective Statutory Auditors 1. Alessandro Dolcetti, 2. Enzio Bermani, and 3. Mario Magenes Alternates Auditors 4. Massimo Colavolpe 5. Marco Benvenuto Lovati About Parmalat Headquartered in Milan, Italy, Parmalat S.p.A. -- http://www.parmalat.net/-- sells nameplate milk products that can be stored at room temperature for months. It also has about 40 brand product lines, which include yogurt, cheese, butter, cakes and cookies, breads, pizza, snack foods and vegetable sauces, soups and juices. The company's U.S. operations filed for chapter 11 protection on Feb. 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139). Gary Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal & Manges LLP, represent the Debtors. When the U.S. Debtors filed for bankruptcy protection, they reported more than US$200 million in assets and debts. The U.S. Debtors emerged from bankruptcy on April 13, 2005. Parmalat S.p.A. and its Italian affiliates filed separate petitions for Extraordinary Administration before the Italian Ministry of Productive Activities and the Civil and Criminal District Court of the City of Parma, Italy on Dec. 24, 2003. Dr. Enrico Bondi was appointed Extraordinary Commissioner in each of the cases. The Parma Court has declared the units insolvent. On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No. 04-14268, in the United States Bankruptcy Court for the Southern District of New York. Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat Capital Finance Ltd., and Food Holdings Ltd. Dairy Holdings and Food Holdings are Cayman Island special-purpose vehicles established by Parmalat S.p.A. The Finance Companies are under separate winding up petitions before the Grand Court of the Cayman Islands. Gordon I. MacRae and James Cleaver of Kroll (Cayman) Ltd. serve as Joint Provisional Liquidators in the cases. On Jan. 20, 2004, the Liquidators filed Sec. 304 petition, Case No. 04-10362, in the United States Bankruptcy Court for the Southern District of New York. In May 2006, the Cayman Island Court appointed Messrs. MacRae and Cleaver as Joint Official Liquidators. Gregory M. Petrick, Esq., at Cadwalader, Wickersham & Taft LLP, and Richard I. Janvey, Esq., at Janvey, Gordon, Herlands Randolph, represent the Finance Companies in the Sec. 304 case. The Honorable Robert D. Drain presides over the Parmalat Debtors' U.S. cases. On June 21, 2007, the U.S. Court Granted Parmalat Permanent Injunction. TISCALI SPA: Commences Buyback Program for 3.59 Million Shares -------------------------------------------------------------- Tiscali S.p.A. plan to repurchase of own ordinary shares commenced March 20, 2008. Objective The plan aims at ensuring the purchase of a number of shares required to implement the stock option plan approved by the Shareholders' Meeting of May 3, 2007 in favor of Tommaso Pompei. Maximum number, category and nominal value of own shares The purchase may not exceed no. 3,593,143 ordinary shares of Tiscali S.p.A. -- which currently represent 0.63% of the share capital -- of EUR0.50 nominal value each. The purchase may take place in one or more stages. The purchases will take place in accordance with legally distributable profits and available reserves as shown in the approved financial statements. Duration The authorization for the purchase of own ordinary shares will have a duration of 18 months from the date of the Shareholders’ Meeting resolution approving the purchase until Nov. 3, 2008, while the authorization for the sale of the same shares has no time limit. Minimum and Maximum Consideration The purchase price of the ordinary shares cannot be lower than the nominal value of the shares of EUR0.50 whereas the maximum purchase price cannot exceed by 1% the official price of the shares on the Stock Exchange of the day preceding each purchase transaction, nor can it be the higher of the price of the last independent transaction and the price of the highest current independent offer registered at the trading place where the purchase is carried out. Purchasing Methods Allowed The purchase of own shares will take place on the market, pursuant to art. 132 of Legislative Decree 58/98 and art. 144- bis, paragraph 1, letters b) and c) of the Issuers Regulation, according to the procedures set out in the regulations governing market organization and management so as to ensure equal treatment of all shareholders. The purchases will only take place: * on regulated markets organised and managed by Borsa Italiana S.p.A., according to procedures established by the latter that do not allow the direct matching of purchase proposals with predetermined sale proposals; or * through the purchase and sale of derivative instruments traded on the related regulated market organized and managed by Borsa Italiana S.p.A. which regulation provides for procedures that comply with the aforesaid art 144-bis, paragraph 1, letters b) and c) of the Issuers Regulation. The ordinary shares purchased according to the procedures may be sold through the exercise of options by Tommaso Pompei. Any shares that are not opted for, may be used or sold according to the methods approved by the Shareholders’ resolution. Further purchase or sale transactions of ordinary shares may be carried out within the limits set out. The maximum number of shares purchased on a single day on regulated markets shall not exceed 25% of the daily average traded volume of Tiscali shares calculated on the basis of the daily average traded volume of the month preceding the date of this notice, in accordance with the provisions of Regulation (EC) 2273/2003. As part of the plan, on the seventh Stock Exchange trading day following the execution date of the transactions, Tiscali will provide both the market and Consob with these information: * the number of shares purchased; * date and time of every purchase; * average price, price of each purchase; and * the cumulative number of shares at the notification date. About Tiscali Headquartered in Cagliari, Italy, Tiscali S.p.A. -- http://www.tiscali.com/-- offers Internet access in the country. The group also operates in other European countries, serving more than seven million subscribers, of which over 1.5 million are broadband users. Tiscali posted consecutive net losses for the past years: EUR5.5 million in 1999, EUR101 million in 2000, EUR1.66 billion in 2001, EUR593.1 million in 2002, EUR242.4 million in 2003, EUR131.8 million in 2004, EUR12.9 million in 2005, and EUR103.6 million in 2006. It posted EUR3.88 million in net losses on EUR614.33 million in net revenues for the nine months ended Sept. 30, 2007. * * * As reported in the TCR-Europe on Feb. 12, 2008, Standard & Poor's Ratings Services has raised its long-term corporate credit rating to 'B+' from 'B' on Tiscali S.p.A. The one-notch upgrade also applies to S&P's long-term debt ratings on the EUR50 million senior secured term loan and EUR50 million senior secured revolving credit facility taken on by financing vehicle Tiscali U.K. Holdings Ltd. These debt obligations' recovery ratings of respectively '3' (meaningful {50%-70%} recovery in the event of a payment default, given the presence of the EUR400 million bridge facility) and '2' (substantial {70%-90%} recovery in the event of a payment default) remain unchanged and are meaningfully influenced by the impact of the Italian insolvency regime on lenders' recovery prospects. At the same time, S&P removed all of the credit ratings from CreditWatch, where they had been placed with positive implications on Jan. 10, 2008, when they first assigned ratings to Tiscali. The outlook is stable. =================== K A Z A K H S T A N =================== ACFA-SERVICE LLP: Creditors Must File Claims by April 18 -------------------------------------------------------- LLP Acfa-Service has declared insolvency. Creditors have until April 18, 2008, to submit written proofs of claims to: LLP Acfa-Service Micro District 11, 34-13 Aktobe Aktube Kazakhstan AIK CO: Claims Deadline Slated for April 18 ------------------------------------------- LLP Aik Co. Ltd. has declared insolvency. Creditors have until April 18, 2008, to submit written proofs of claims to: LLP Aik Co. Ltd. Suyunbai ave. 203 Almaty Kazakhstan AMBASSADOR LLP: Claims Filing Period Ends April 18 -------------------------------------------------- Almaty Branch of LLP Ambassador has declared insolvency. Creditors have until April 18, 2008, to submit written proofs of claims to: LLP Ambassador (Almaty Branch) Promzona Pervomaisky Ilyisky Almaty Kazakhstan EKIBASTUZ REM: Creditors' Claims Due on April 18 ------------------------------------------------ LLP Ekibastuz Rem Diesel has declared insolvency. Creditors have until April 18, 2008, to submit written proofs of claims to: LLP Ekibastuz Rem Diesel Jeleznodorojnaya Str. 5 Ekibastuz Pavlodar Kazakhstan GS SERVICE: Claims Registration Ends April 18 --------------------------------------------- LLP GS Service has declared insolvency. Creditors have until April 18, 2008, to submit written proofs of claims to: LLP GS Service Ryskulov Str. 61e Almaty Kazakhstan MSDS LLP: Creditors Must File Claims by April 18 ------------------------------------------------ The Specialized Inter-Regional Economic Court of Aktube has declared LLP MSDS insolvent on Feb. 4, 2008. Creditors have until April 18, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Aktube Altynsarin Str. 31 Aktobe Aktube Kazakhstan Tel: 8 (3132) 21-30-32 NEW-MEDIA LLP: Claims Deadline Slated for April 18 -------------------------------------------------- LLP New-Media has declared insolvency. Creditors have until April 18, 2008, to submit written proofs of claims to: LLP New-Media Tulebaev Str. 174-41 Almaty Kazakhstan NIYAZ & K: Claims Filing Period Ends April 18 --------------------------------------------- The Specialized Inter-Regional Economic Court of Aktube has declared LLP Niyaz & K insolvent on Feb. 11, 2008. Creditors have until April 18, 2008, to submit written proofs of claims to: The Specialized Inter-Regional Economic Court of Aktube Altynsarin Str. 31 Aktobe Aktube Kazakhstan Tel: 8 (3132) 21-30-32 NUR I REN: Creditors' Claims Due on April 18 -------------------------------------------- The Tax Committee of Almaty has ordered the compulsory liquidation of LLP Nur I Ren. Creditors have until April 18, 2008, to submit written proofs of claims to: The Tax Committee of Almaty Room 208 Jangusurov Str. 113a &