---

        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

             Wednesday, March 26, 2008, Vol. 9, No. 60

                            Headlines


A U S T R I A

A & K DIE: Claims Registration Period Ends April 9
AS BAU: Claims Registration Period Ends April 14
MARMOR LUX: Claims Registration Period Ends April 14
MEINL EUROPEAN: CPI/Gazit Acquires Interest for EUR800 Million
MEINL EUROPEAN: Cash Deal Cues Fitch to Keep Ratings' Watch Neg

METALLTECHNIK LLC: Claims Registration Period Ends April 2
T & V TRANSPORT: Creditors' Meeting Slated for March 31
WIENER FLEISCHER: Claims Registration Period Ends April 2
XERIUM TECHNOLOGIES: Delays Filing of December 2007 Form 10-K
XERIUM TECHNOLOGIES: Discloses Likely Bankruptcy Filing

XERIUM TECHNOLOGIES: Cancels Dividend for First Quarter 2008
XERIUM TECHNOLOGIES: Moody's Cuts Ratings on High Default Risk
XERIUM TECHNOLOGIES: S&P Cuts Ratings on Likely Covenant Breach


B E L G I U M

CHEMTURA CORP: Posts US$3 Mil. Net Loss in Year Ended Dec. 31
FERRO CORP: Posts US$94 Million Net Loss for Year Ended Dec. 31


F R A N C E

GRAPHIC PACKAGING: Moody's Affirms Ratings on Altivity Merger
SR TELECOM: Selling Assets to Groupe Lagasse for US$6 Million
TECUMSEH PRODUCTS: Shareholder Asks Board to Study Sale of Biz


G E R M A N Y

AAA TRAVEL: Claims Registration Period Ends March 15
ALPHACALL GMBH: Claims Registration Period Ends April 14
AUTOHAUS KIESEL-JANKE: Claims Registration Period Ends April 14
AUTOHAUS VOLK: Claims Registration Period Ends April 2
BAUFRANK CONSULT: Claims Registration Period Ends April 14

BBF GMBH: Claims Registration Period Ends April 14
BG VERWALTUNGS: Claims Registration Period Ends April 11
FACHBUCHHANDLUNG FUER INFORMATIK: Claims Filing Ends April 2
HYMMEN-SCHRAUBEN: Claims Registration Period Ends April 1
INFLUX CASHFLOW: Claims Registration Period Ends April 14

FAHNENFABRIK WEDEMARK: Claims Registration Period Ends April 14
FORUM MASSIMO: Claims Registration Period Ends April 14
GEBRA GMBH: Claims Registration Ends April 7
GUENTER BAU: Claims Registration Period Ends April 14
KOERBELITZER FRUCHTMARKT: Claims Registration Ends April 1

KOMPLEX IMMOBILIEN: Claims Registration Period Ends April 9
LANGENHOF GEFLUEGELFARM: Claims Registration Ends April 7
MARMOR SOMMERFELD: Claims Registration Ends April 7
OMA RINK: Claims Registration Ends April 4
R & H - HANDELS: Claims Registration Period Ends April 11

R & K GMBH: Claims Registration Ends April 4
RADEBERGER SANIERUNGSGESELLSCHAFT: Claims Filing Ends April 3
RAUH HOLZ: Claims Registration Period Ends April 1
SETR GMBH: Claims Registration Ends April 6


I R E L A N D

GAP INC: Earns US$265 Million in Fourth Quarter Ended February 2


I T A L Y

ALITALIA SPA: Air France and Unions Resume Talks
ALITALIA SPA: Romano Prodi Ready to Accept Italian Bid
FIAT GROUP: Withdraws Termini Imerese Plant Expansion Plan


K A Z A K H S T A N


AKTOBE-CONTRACT XXI: Creditors Must File Claims by April 22
ASIA-SERVICE LLP: Claims Deadline Slated for April 25
DESIGN STROY: Claims Filing Period Ends April 25
KAISAR ASSET: Creditors' Claims Due on April 25
KAZ MICROCREDIT: Claims Registration Ends April 25

M&M MILITZER&MUNCH: Creditors Must File Claims by April 25
OIL MARKET: Claims Deadline Slated for April 25
RENESSANS CAPITAL: Claims Filing Period Ends
SENIM-SERVICE XXI: Creditors' Claims Due on April 22
TALGAT OIL: Claims Registration Ends April 25


K Y R G Y Z S T A N

MAN SEG: Creditors Must File Claims by April 25
SEVEN STAR: Claims Filing Period Ends April 25


L U X E M B O U R G

CA INC: Ample Cash Flow Prompts S&P's Positive CreditWatch


N E T H E R L A N D S

VALEANT PHARMA: Posts US$6.2 Mil. Net Loss in Year Ended Dec. 31
X5 RETAIL: Inks Agreement to Buy Kama Retail for US$18 Million


P O L A N D

SCO GROUP: Posts US$1.5 Mil. Net Loss in 1st Qtr. Ended Jan. 31


R O M A N I A

FORD MOTOR: Completes Buy of Automobile Craiova Facility


R U S S I A

ARSLAMBAEVSKIY CJSC: Creditors Must File Claims by April 22
IGLAS LLC: Creditors Must File Claims by April 22
KIROV CJSC: Creditors Must File Claims by April 22
MAGNITOGORSK IRON: Board Recommends Dividend Payment
PONIZOVYE-AGRO-TEKH-SERVICE: Claims Filing Period Ends April 22

ROSNEFT OIL: Inks Oil Cooperation Deal with Japan
SINEL CJSC: Court Names S. Piskarev as Insolvency Manager
TEKHNO-ECOLOGY OJSC: Creditors Must File Claims by April 22
VOLGOGRAD-SPETS-AVTOMATIKA: Claims Filing Period Ends April 22
X5 RETAIL: Inks Agreement to Buy Kama Retail for US$18 Million

YUKOS OIL: Dutch Court Denies Promneftstroy's Inquiry Request


S W I T Z E R L A N D

ASS-OEKOHAUS JSC: Creditors' Liquidation Claims Due by April 2
DRIVING RANGE: Creditors' Liquidation Claims Due by April 3
DST LLC: Creditors' Liquidation Claims Due by April 3
GTF SOLUTIONS:  Zug Court Starts Bankruptcy Proceedings
GTS GIPSER:  Lucerne Court Starts Bankruptcy Proceedings

IMAT JSC:  Zug Court Starts Bankruptcy Proceedings
ROSA BRAUN: Creditors' Liquidation Claims Due by April 4
RPS-PRODUKTION: Creditors' Liquidation Claims Due by April 3
STE - TEC:  Lucerne Court Starts Bankruptcy Proceedings
TRESCOMP INVESTMENT: Creditors Must File Claims by April 3

WARMUD JSC: Creditors' Liquidation Claims Due by April 3


U K R A I N E

BLACK SEE: Creditors Must File Claims by March 27
BOBRINETSKY FEED: Creditors Must File Claims by March 27
EVEREST-IMPORT LLC: Creditors Must File Claims by March 27
KIATECK LLC: Creditors Must File Claims by March 27
POLESYE LLC: Creditors Must File Claims by March 27

PRODKOM LLC: Proofs of Claim Deadline Set March 27
RADOSIN-AGRO: Proofs of Claim Deadline Set March 27
ROZHNIATOV AGRICULTURAL: Creditors Must File Claims by March 27
SIGMA-OKB SA: Creditors Must File Claims by March 27


U N I T E D   K I N G D O M

ADSEARCH LTD: High Court Orders Winds Up Advertising Firm
ARGON CAPITAL: S&P Puts Series 40 Notes' B Rating on Watch Neg
BAA LTD: APP Venture Selling 33 Assets for GBP265 Mln to Arora
AVIATION CAPITAL: S&P Puts Secutization Ratings on Watch Neg
BRITISH ENERGY: Centrica Contemplates GBP10 Bln Takeover Bid

CANDU ENTERTAINMENT: To File for Administration
CHRYSLER LLC: Plastech Supply Agreement Extended to April 2
DOLPHIN CONSTRUCTION: Taps Administrators from Grant Thornton
LUDGATE FUNDING: S&P Rates GBP5-Million Class E Notes at BB
QUEBECOR WORLD: Seeks Nod to Pay Prepetition Wages to Managers

QUEBECOR WORLD: Wants to Assume BofA's Purchasing Card Pact
QUEBECOR WORLD: Wants to Pay DB Plans Funding Contributions
SEA CONTAINERS: Wants to Ink Two Charter Termination Agreements
* Chancery Division Corrects County Courts' Bankruptcy Practice


                            *********


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


A & K DIE: Claims Registration Period Ends April 9
--------------------------------------------------
Creditors owed money by LLC A & K DIE KUECHENPROFIS (FN 52412b)
have until April 9, 2008, to file written proofs of claim to
court-appointed estate administrator Gerhard Bauer at:

          Mag. Gerhard Bauer
          Mahlerstrasse 7
          1010 Vienna
          Austria
          Tel: 512 97 06
          E-mail: ra-g.bauer@aon.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:50 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. 22, 2008 (Bankr. Case No. 2 S 23/08g).


AS BAU: Claims Registration Period Ends April 14
------------------------------------------------
Creditors owed money by LLC AS Bau (FN 284885z) have until
April 14, 2008, to file written proofs of claim to court-
appointed estate administrator Philipp Casper at:

          Mag. Philipp Casper
          Kalchberggasse 1
          8010 Graz
          Austria
          Tel: 0316/830550
          Fax: 0316/813717
          E-mail: philipp.casper@aaa-law.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:15 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 Graz, Austria, the Debtor declared bankruptcy
on Feb. 22, 2008 (Bankr. Case No. 40 S 12/08z).


MARMOR LUX: Claims Registration Period Ends April 14
----------------------------------------------------
Creditors owed money by LLC MARMOR LUX Steinmetz (FN 175951b)
have until April 14, 2008, to file written proofs of claim to
court-appointed estate administrator Bernhard Humer at:

          Dr. Bernhard Humer
          Lastenstrasse 36
          4020 Linz
          Austria
          Tel: 0732/774674
          Fax: 0732/77467433
          E-mail: office@whtp.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:30 a.m. on April 28, 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 Traun, Austria, the Debtor declared bankruptcy
on Feb. 21, 2008 (Bankr. Case No. 12 S 15/08f).


MEINL EUROPEAN: CPI/Gazit Acquires Interest for EUR800 Million
--------------------------------------------------------------
Meinl European Land Limited and CPI/Gazit Holdings Ltd., a joint
venture between Gazit-Globe Ltd. and CPI Capital Partners Europe
LP, announced on March 20, 2008, that they have signed an
agreement by which CPI/GAzit will make a strategic investment of
up to EUR800 million in MEL.  In addition, a transformation of
MEL's governance and management structure will take place.

In September 2007, the board of directors of MEL began the
process of a strategic review, to the purpose of which was to
identify and implement improvements to the Company’s management,
corporate governance and reporting arrangements and processes,
as well as a review of the Company’s capital structure and
financing.

The company has been engaged in discussions with strategic
investors since the beginning of 2007.  The signed agreement
with CPI/Gazit entails a significant restructuring and
repositioning of the Company enabling it to internalize
management, to adopt international best practice corporate
governance arrangements, and focus on building out its
development pipeline.  In the face of market illiquidity and
increased volatility in international debt and equity markets,
the funding flexibility and strengthened balance sheet provided
by this cash infusion will allow the company to pursue growth
opportunities that would not otherwise be available.

Highlights of the transaction are:

   -- EUR800 million of underwritten new investment in MEL
      comprising a subscription for EUR500 million of
      convertible securities and in connection with a capital
      increase a EUR300 million rights issue to MEL certificate
      holders, which will be underwritten by CPI/Gazit;

   -- the management of MEL will be internalized through the
      termination of the Meinl European Real Estate management
      contract and the recruitment of a new executive team.  All
      other contractual and operational ties with Meinl Bank and
      its affiliates will be severed.  The internalization of
      the company’s management will align MEL-investor and
      management interests;

   -- Gazit and CPI will receive board representation and the
      board will be reconstituted with a majority of independent
      directors.  The board will comprise a number of well
      respected international real estate experts and be chaired
      by Chaim Katzman, the current chairman of Gazit-Globe;

   -- simplification of MEL’s ownership structure - upon
      closing, all partly paid shares in the Company and the
      shares underlying the repurchased certificates will be
      canceled;

   -- CPI/Gazit’s commitment to make its cash injection is not
      subject to any financing contingency.  It will be funded
      from both parties’ internal cash resources and committed
      lines of credit of Gazit and funds of CPI Capital Partners
      Europe LP; and

   -- the transaction is subject to regulatory and MEL-investor
      approval and receipt of MEL’s 2007 audited financial
      statements, as well as other customary conditions.

In addition:

   -- this strategic partnership will allow the company and its
      certificate holders to benefit from Gazit’s and CPI’s
      financial and operating strength and public market
      corporate expertise.  Gazit has 20 years’ experience of
      developing, owning and managing shopping centres across
      the world;

   -- in line with industry best practice and to reflect the
      value placed on the MEL's operational management and
      employees, a reward package will be put in place to
      incentivise staff and ensure that project profitability is
      the key driver of all efforts; and

   -- the company will endeavor to regain its investment grade
      rating as soon as possible.

"The proposed transaction represents a very positive outcome for
certificate holders.  The introduction of new capital will
enable MEL to accelerate its expansion in Eastern Europe, while
the adoption of strong corporate governance measures and
management restructuring will help regenerate confidence in the
Company.  We are pleased to have Gazit and CPI as investors in
MEL and believe they will be able to make a material
contribution to the continuing development of the company,"
Georg Kucian, MEL chairman commented.

"We believe MEL has enormous potential to deliver investor
value, which the Company has been unable to capitalize upon.  It
has a portfolio of 160 high quality assets diversified across 11
countries, offering considerable mid to long term growth
potential, particularly in the rationalization, value
maximization and completion of the company’s development
pipeline.  The capital injection we are proposing with CPI
offers certificate holders an opportunity to benefit from that
potential and this deal allows the company to take control of
its management base which will serve to enhance the portfolio.
It means we can start working towards a brighter future for the
benefit of all investors," Chaim Katzman, Gazit-Globe Ltd.
chairman said.

"Our initial priorities are to create predictable and
sustainable cash flows from the underlying assets, as well as
setting out a steady growth profile through accretive
developments and acquisitions.  We are also committed to
establishing a strong and transparent relationship with the
investment community and to incentivising and rewarding our most
valuable asset – our staff," Mr. Katzman added.

"CPI is Citi’s global real estate investment platform and as our
partner, will enhance financial rigour and bring reputational
integrity to the governance of the company.  We embrace CPI’s
operational contribution given its specialist knowledge and
experience in investing in real estate and entity level
platforms in mature and emerging markets,"  Mr. Katzman
concluded.

Roger Orf, head of CPI Europe added, "The transaction we are
proposing will allow Meinl European Land to focus on the
existing portfolio and future development of its land bank. The
capital injection will have an extremely positive effect on the
Company’s balance sheet and, ultimately, the credit rating. It
provides the Company with the ability to self finance and will
improve the terms on which it can source external finance in
these difficult times, all of which will help re-establish its
position as a leading property owner in Central and Eastern
Europe.

"We believe that Gazit brings to the transaction an outstanding
team of highly qualified and experienced professionals who
understand how to manage and develop retail assets around the
world and importantly have significant experience in managing
listed vehicles to the highest fiduciary standards. We look
forward to a long and productive relationship with Chaim and his
team and the various MEL constituencies," Mr. Orf said.

Financial details of the transaction:

The EUR800 million underwritten investment will comprise these
elements:

   -- the company will issue EUR500 million Subordinated
      Convertible Debt Securities to CPI/Gazit with the
      following principal terms:

      -- maturity of seven years;

      -- annual cash coupon of 10.75%;

      -- at the option of CPI/Gazit, the Convertible Securities
         are convertible into MEL certificates at a price of
         EUR9.00 per certificate.  These are subject to standard
         anti-dilution provisions;

      -- MEL can force conversion at any time following 36
         months after their issue date if MEL certificates trade
         for 60 consecutive days at a price that is greater than
         135% of the conversion price; and

      -- CPI/Gazit can force MEL to redeem the convertible
         Securities at any time after the later of the date of
         completion of MEL’s medium term note programme and the
         five year anniversary of the date of issue of the
         Convertible Securities.

   -- CPI/Gazit will in connection with a capital increase
      underwrite a EUR300 million rights issue of newly issued
      MEL certificates according to the following principal
      terms:

      -- the holder of every 29.57 MEL certificates will be
         eligible to subscribe for six newly issued MEL
         certificates at an issuance price of EUR7 per
         certificate and two warrants for every six certificates
         for no additional consideration;

      -- CPI/Gazit has the option to subscribe for up to EUR200
         million of additional certificates at a price of EUR7,
         and one additional warrant for every 6 optional
         certificates for no additional consideration.  The
         EUR200 million option is reduced by the value of any
         certificates taken up under the rights issue pursuant
         to the underwriting obligation.  This option will
         expire six months following completion of the rights
         issue;

      -- CPI/Gazit will fully underwrite the EUR300 million
         rights issue;

      -- CPI/Gazit will receive 30 million warrants; and

      -- all warrants have an exercise price of EUR7 and will
         expire four years following closing of the transaction.

The rights issue will be conducted within six months following
the approval of the transaction by MEL certificate holders.
Details relating to the termination of the contracts with MERE
and MB MERE and MB affiliates have various contracts with MEL,
terminable on notice periods of up to six years.

To terminate these contracts, and for MERE and MB to enter into
a three year non-compete and to procure 12 months of
transitional consultancy services, MEL will pay a total
consideration of EUR280 million, of which EUR160 million will be
in cash, EUR80 million in convertible securities and EUR40
million in MEL certificates.  As part of this agreement MB is
required to vote in proxy with CPI/Gazit.

The convertible securities and MEL certificates will be issued
at the same price and upon the same terms and conditions as the
rights issue and convertible securities but they will not be
entitled to any warrants.  A portion of this amount is subject
to a staggered three year lock-up to ensure that there is an
orderly management transition and thereby assist in providing
the best platform for the future growth of the Company. Some of
the securities will be subject to restrictions on transfer or
disposal.

Following completion of the transaction, MEL will adopt a new
name that has yet to be selected.
                   Improvement in governance

Upon Closing, the existing Directors of MEL will resign and a
new Board of Directors will be appointed to include a majority
of Independent Directors as defined under New York Stock
Exchange rules and to continue to comply with Jersey regulatory
requirements.

The new Board of Directors will consist of eight directors.
Subject to certain minimum total investment conditions,
CPI/Gazit will have the right to name up to four members,
including the chairman.

The Company is pleased to announce that a number of world class
real estate experts have already agreed to join the board of
directors upon closing.  These include Professor Peter Linneman,
the principal of Linneman Associates; Albert Sussman Professor
of Real Estate, Finance, and Public Policy at the Wharton School
of Business, University of Pennsylvania; and Thom Wernink,
Chairman of Citycon and a non-executive director of a number of
Continental European-based property and investment companies
including Segro plc and a former chairman of EPRA.

The appointment of a full time chief executive officer, chief
financial officer and head of acquisitions will be announced in
due course, once the transaction has closed.

               Conditions to closing and timetable

The transaction is subject to a number of conditions including:

   -- the obtaining of certain MEL-investor approvals;

   -- receipt of MEL’s 2007 financial year audited financial
      statements;

   -- compliance with certain minimum balance sheet covenants;

   -- no event occurring which would cause a material adverse
      effect for MEL;

   -- cancellation of MEL’s partly paid shares and certificates
      controlled by MEL; and

   -- certain other conditions that are standard for a
transaction of this nature.

MEL is committed to consummating a transaction as expeditiously
as possible and believes that the transaction can be closed in
the second quarter of 2008.

An explanatory circular will be sent to certificate holders as
soon as practicable in connection with the shareholders’
meeting.

MEL, MERE and MB have entered into customary exclusivity
arrangements with CPI/Gazit.
Citi and Deutsche Bank acted as joint advisor for CPI/Gazit; the
Company was advised by Merrill Lynch. Skadden, Arps, Slate,
Meagher & Flom (UK) LLP were legal counsel to CPI/Gazit;
Linklaters LLP was legal counsel of CPI and Freshfields
Bruckhaus Deringer acted as legal counsel to the company.  Meinl
Bank was advised by Lazard.

Headquartered in Vienna, Austria, Meinl European Land Limited --
http://www.meinleuropeanland.com/--  is property development
and investment company with retail property assets in major
central and eastern European territories.  Currently, MEL owns
160 completed properties valued at EUR1.8 billion and a large
contracted development project program with a total potential
investment value of EUR3.7 billion.  Of the tenants, a high
percentage are international retail names such as Spar, Ahold,
Metro, Rewe and Delhaize.


MEINL EUROPEAN: Cash Deal Cues Fitch to Keep Ratings' Watch Neg
---------------------------------------------------------------
Fitch Ratings kept Meinl European Land Ltd's Long-term Issuer
Default and senior unsecured ratings on Rating Watch Negative.
MEL is currently rated Long-term IDR and senior unsecured 'BB+',
and Short-term IDR 'B'.

This follows MEL's announcement on March 21, 2008, that a joint
venture between Gazit Globe Ltd, a Tel Aviv stock market listed
property company, and CPI Capital Partners Europe LP, a real
estate fund advised by Citi Property Investors, has signed an
agreement to inject up to EUR800 million into MEL.

The funds to be injected, comprising a EUR500 million
subordinated 2015 securities issue and up to EUR300 million of
shares/certificates should allow MEL to complete the committed
element of its development program and resolve the liquidity
issue created by the share buybacks totaling EUR1.8 billion in
June/July 2007.

In addition, the current corporate governance issues are
expected to be addressed by a new management team, along with a
new Board of Directors and an internalization of the management
function. Previously, management of the company was carried out
by a third party, Meinl European Real Estate Ltd., a subsidiary
of Meinl Bank AG.  Continuity of operational experience should
be maintained with the signing of a 12-month transitional
services agreement with MERE.

In this respect, MERE will receive a total of EUR280m in cash
and securities. This transitional services agreement will
replace all existing contracts and agreements in place with MERE
and MB, which will terminate at the close of this transaction.

The transaction is subject to a number of conditions including
shareholder approval, receipt of the fiscal year 2007 accounts
and various minimum balance sheet tests.  Closing of the
transaction is expected in second quarter of 2008 and Fitch,
therefore, expects to resolve the RWN within the next three
months.

The RWN was first assigned on Sept. 6, 2007, following the share
buybacks referred to above.  Fitch notes that the new investors
wish to return MEL to an investment grade rating and will seek
an early meeting with the new management team and the new
shareholders to resolve the RWN.  To enable Fitch to do this,
the agency will be focusing on these issues:

   -- details of the joint venture partners and their track
      record

   -- information on the new Board of Directors and the new
      management to be appointed.

   -- details on how the group will operate post transaction
      completion and information on the internalisation of the
      management function, including any incentive fees.

   -- details of the development programme to be undertaken,
      including committed spending

   -- future financial structure of the group, including use of
      secured and non-recourse debt. Information on intention
      for the existing cash deposits held by MEL, including
      information on banks used for deposits.

   -- dividend and quasi dividend policy under the new
      management and shareholders

   -- financial targets to be set by the group, both internally
      and externally.

The current ratings reflect MEL's mainly retail property
development activities and risk profile at this stage in its
growth strategy.

MEL is a Jersey-based, Vienna headquartered, property
development and investment company with retail property assets
in major central and eastern European territories.  Currently,
MEL owns 160 completed properties valued at EUR1.8 billion and a
large contracted development project program (with completion
dates between 2007 and 2010) with a total potential investment
value of EUR3.7 billion.  Of the tenants, a high percentage are
international retail names such as Spar, Ahold, Metro, Rewe and
Delhaize.


METALLTECHNIK LLC: Claims Registration Period Ends April 2
----------------------------------------------------------
Creditors owed money by LLC METALLTECHNIK (FN 237151b) have
until April 2, 2008, to file written proofs of claim to court-
appointed estate administrator Ulla Reisch at:

          Dr. Ulla Reisch
          Praterstrasse 62-64
          1020 Wien
          Austria
          Tel: 01/212 55 00
          Fax: 01/212 55 00 5
          E-mail: office.wien@ulsr.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 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 Mistelbach an der Zaya, Austria, the Debtor
declared bankruptcy on Feb. 21, 2008 (Bankr. Case No. 36 S
20/08w).


T & V TRANSPORT: Creditors' Meeting Slated for March 31
-------------------------------------------------------
Creditors owed money by LLC T & V Transport und Vertrieb(FN
114566f) are encouraged to attend the creditors' meeting at
12:15 p.m. on March 31, 2008.

The creditors' meeting will be held at:

          The Land Court of Klagenfurt
          Meeting Room 225
          Second Floor
          Klagenfurt
          Austria

Headquartered in Villach – Landskron, Austria, the Debtor
declared bankruptcy on Feb. 22, 2008 (41 S 15/08s).  Margit
Niederleitner-Gradischnig serves as the court-appointed estate
administrator of the bankrupt's estate.

The estate administrator can be reached at:

          Dr. Margit Niederleitner-Gradischnig
          Moritschstrasse 7
          9500 Villach
          Austria
          Tel: 04242/25132
          Fax: 04242/25132-9
          E-mail: gradischnig.gradischnig@utanet.at


WIENER FLEISCHER: Claims Registration Period Ends April 2
---------------------------------------------------------
Creditors owed money by LLP Wiener Fleischer-Genossenschaft (FN
95012z) have until April 2, 2008, to file written proofs of
claim to court-appointed estate administrator Ilse Korenjak at:

          Dr. Ilse Korenjak
          Gusshausstrasse 6
          1040 Wien
          Austria
          Tel: 01/512 21 02
          Fax: 01/512 21 02 20
          E-mail: office@buresch-korenjak.at

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 10:00 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 Himberg bei Wien, Austria, the Debtor declared
bankruptcy on Feb. 22, 2008 (Bankr. Case No. 36 S 22/08i).


XERIUM TECHNOLOGIES: Delays Filing of December 2007 Form 10-K
-------------------------------------------------------------
Xerium Technologies, on March 18, 2007, filed a notice of late
filing on Form 12b-25 with the U.S. Securities and Exchange
Commission with respect to its annual report on Form 10-K for
the period ended Dec. 31, 2007.

In light of the company’s risk of financial covenant default
under its Credit and Guaranty Agreement, Stephen Light, the
company’ new chief executive officer who was appointed effective
Feb. 11, 2008, and other members of senior management have been
devoting the substantial portion of their time seeking solutions
to these financial covenant issues.

In addition, in connection with the company’s annual assessment
of goodwill, the company has concluded that an impairment of the
goodwill of its roll covers segment may exist.  While the
company does expect there to be an impairment, the company
requires further time to complete the analysis of whether an
impairment does in fact exist and, if so, the amount of the
impairment.  As a result of these two matters, the company has
not completed its financial statements and certain disclosures
for inclusion in its annual report for the period ended Dec. 31,
2007.

                    About Xerium Technologies

Headquartered in Youngsville, North Carolina, Xerium
Technologies Inc. (NYSE: XRM) -- http://xerium.com/--
manufactures and supplies two types of consumable products used
primarily in the production of paper: clothing and roll covers.
The company, which operates around the world under a variety of
brand names, utilizes a broad portfolio of patented and
proprietary technologies to provide customers with tailored
solutions and products integral to production, all designed to
optimize performance and reduce operational costs.  With 35
manufacturing facilities in 15 countries around the world,
Xerium has approximately 3,800 employees.  The company’s Europe
manufacturing facilities are located in Germany, Italy, Spain,
France, Sweden and Austria.


XERIUM TECHNOLOGIES: Discloses Likely Bankruptcy Filing
-------------------------------------------------------
Xerium Technologies disclosed in a regulatory filing with the
U.S. Securities and Exchange Commission on March 18, 2008 that
while it was in compliance with it financial covenants under the
Credit Agreement as of Dec. 31, 2007 and expects that it will
generate cash flow from operations sufficient to service the
debt under the Credit Agreement prior to the stated maturity of
the debt if there is not otherwise an event of default under the
debt, the company is currently pursuing alternatives to address
expected financial covenant non-compliance in the first quarter
of 2008 and future periods.

Failing to meet a financial covenant under the Credit Agreement
constitutes an event of default under the Credit Agreement.
While the company does not expect that the lenders would do so
immediately, upon an event of default, the lenders could
accelerate the debt under the Credit Agreement, causing it to
become due and payable.  If this were to occur, the company
would need to consider all options available to it, which could
include a possible bankruptcy filing.

The company is in discussions with potential investors regarding
a private placement of equity securities, the net proceeds of
which the company would use to pay down debt under the Credit
Agreement, and is also seeking an amendment to the financial
covenants under the Credit Agreement with its lenders.  There
can be no assurance that the company will be successful in
completing either the private placement or the amendment or
that, if achieved, these will be achieved at a sufficient level
and on sufficient terms to allow the Company to meet the
financial covenants under the Credit Agreement and to operate
effectively in future periods.

If the company is not able to address the financial covenant
non-compliance issues described, the company expects that its
independent auditors would need to include an explanatory
paragraph in their opinion with respect to the Company’s
financial statements for the year ended Dec. 31, 2007 expressing
doubt about the ability of the Company to continue as a going
concern.

                    About Xerium Technologies

Headquartered in Youngsville, North Carolina, Xerium
Technologies Inc. (NYSE: XRM) -- http://xerium.com/--
manufactures and supplies two types of consumable products used
primarily in the production of paper: clothing and roll covers.
The company, which operates around the world under a variety of
brand names, utilizes a broad portfolio of patented and
proprietary technologies to provide customers with tailored
solutions and products integral to production, all designed to
optimize performance and reduce operational costs.  With 35
manufacturing facilities in 15 countries around the world,
Xerium has approximately 3,800 employees.  The company’s Europe
manufacturing facilities are located in Germany, Italy, Spain,
France, Sweden and Austria.


XERIUM TECHNOLOGIES: Cancels Dividend for First Quarter 2008
------------------------------------------------------------
Xerium Technologies disclosed that pursuant to its dividend
policy, the company’s Board of Directors has determined not to
declare a dividend on the company’s common stock in the first
quarter of 2008.  The company has instead determined to retain
cash that would have otherwise been used for a dividend for the
repayment of debt or other purposes.

The company does not currently expect to pay dividends on its
common stock for the foreseeable future.

Headquartered in Youngsville, North Carolina, Xerium
Technologies Inc. (NYSE: XRM) -- http://xerium.com/--
manufactures and supplies two types of consumable products used
primarily in the production of paper: clothing and roll covers.
The company, which operates around the world under a variety of
brand names, utilizes a broad portfolio of patented and
proprietary technologies to provide customers with tailored
solutions and products integral to production, all designed to
optimize performance and reduce operational costs.  With 35
manufacturing facilities in 15 countries around the world,
Xerium has approximately 3,800 employees.  The company’s Europe
manufacturing facilities are located in Germany, Italy, Spain,
France, Sweden and Austria.


XERIUM TECHNOLOGIES: Moody's Cuts Ratings on High Default Risk
--------------------------------------------------------------
Moody's Investors Service downgraded Xerium Technologies, Inc.'s
ratings due to the company's recent announcement that it expects
to be non-compliant with its financial covenants in the first
quarter of 2008 and future periods, without an amendment to its
credit facility.

Moody's specifically downgraded the company's corporate family
rating to Caa1 from B2, its senior secured credit facilities to
Caa1 from B2, its probability of default rating to Caa2 from B2,
and its speculative grade liquidity rating to SGL-4 from SGL-3.

The rating outlook is negative.

The rating action reflects the heightened risk of a default
under the company's credit agreement and the possibility of a
bankruptcy filing if management is unsuccessful in obtaining
financial covenant amendments from its lenders.  The company is
also in discussions with potential investors to raise equity
securities that would be used to pay down debt.  In addition,
the company is in the process of assessing a potential
impairment to its goodwill related to its roll covers business
but may not be able to complete its analysis before the filing
deadline for its Form 10-K.  Moody's believes that the delayed
filing of its Form 10-K may trigger a default under its credit
agreement if the annual report is not filed by April 1, 2008.
These matters create a high level of uncertainty surrounding
Xerium's liquidity and the potential for triggering an event of
default and, therefore, Moody's lowered the company's
Probability of Default rating to Caa2, indicating an estimated
30% probability of default over a one-year time horizon.

Xerium's corporate family rating and its senior secured debt
ratings were lowered to Caa1 based on Moody's belief that
creditors' recovery, in the event of default, would be
relatively high.

Moody's last rating occurred on Feb. 8, 2007, when Moody's
downgraded the long-term debt and corporate family ratings of
Xerium to B2 from B1 and maintained a stable outlook.  Moody's
continues to believe that Xerium's operating performance will
remain weak.  Xerium's customers continue to struggle
operationally due to a slowdown in global paper production and
significant overcapacity, especially in newsprint and fine
paper.

Moody's believes that this trend will continue with the closure
of additional mills and further downtime at existing facilities
in North America and Europe, Xerium's primary markets.  Moody's
also anticipates that previous volume losses will take longer
than expected to recover and that recent investments in
developing economies will take several years before they have a
meaningful positive impact on cash flow.

Downgrades:

Issuer: Xerium Technologies, Inc.

  -- Corporate Family Rating, Downgraded to Caa1 from B2

  -- Senior Secured Term Loan, Downgraded to Caa1 from B2
     (LGD3, 33%)

  -- Senior Secured Revolving Credit Facility, Downgraded to
     Caa1 from B2 (LGD3, 33%)

  -- Probability of Default Rating, Downgraded to Caa2 from B2

  -- Speculative Grade Liquidity Rating, Downgraded to SGL-4
     from SGL-3

Outlook Actions:

Issuer: Xerium Technologies, Inc.

  -- Outlook, Changed To Negative from Stable

Xerium Technologies, Inc., headquartered in Youngsville, North
Carolina, is a manufacturer and supplier of consumable products
used primarily in the production of paper


XERIUM TECHNOLOGIES: S&P Cuts Ratings on Likely Covenant Breach
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating and bank loan ratings on Youngsville, North Carolina-
based Xerium Technologies Inc. to 'CCC+' from 'B+'.  At the same
time, the ratings were placed on CreditWatch with negative
implications.

"The downgrade and CreditWatch placement reflect the increased
likelihood of a bankruptcy filing, as Xerium announced that it
expects to breach certain financial covenants under its current
credit facility during the first quarter and future periods,
which could constitute a default under the facility," said
Standard & Poor's credit analyst James Siahaan.

Xerium, a global manufacturer of clothing and roll covers used
in the paper making process, is seeking relief from creditors
and is attempting to privately place equity to help remedy the
situation.   However, these proposed solutions are unlikely to
be satisfactory, given current credit and equity market
conditions.  Xerium also filed a Form 12b-25 report with the
SEC, indicating that it would be unable to file its annual
report in a timely fashion.  The company requires additional
time to determine the specifics of a possible asset impairment
on its roll covers operation.  The confluence of these issues
has resulted in a dramatic weakening of the company's credit
quality.

S&P could lower the ratings further if Xerium fails to complete
an equity issuance and rectify its covenant violation.

Headquartered in Wesborough, Massachusetts, Xerium Technologies,
Inc. -- http://xerium.com/-- manufactures and supplies two
types of products used primarily in the production of paper:
clothing and roll covers.  The company operates under a variety
of brand names and owns a broad portfolio of patented and
proprietary technologies to provide customers with tailored
solutions and products, designed to optimize performance and
reduce operational costs.  With 35 manufacturing facilities in
15 countries, including Austria, Brazil and Japan, Xerium
Technologies has approximately 3,900 employees.


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


CHEMTURA CORP: Posts US$3 Mil. Net Loss in Year Ended Dec. 31
-------------------------------------------------------------
Chemtura Corp. reported a net loss of US$3.0 million on net
sales of US$3.75 billion for the year ended Dec. 31, 2007,
compared with a net loss of US$206.0 million on net sales of
US$3.46 billion for the yeare ended Dec. 31, 2006.

The increase in sales primarily reflects a net US$173.0 million
attributable to acquisitions and divestitures, US$61.0 million
of favorable foreign currency impact, US$43.0 million from
higher selling prices and other increases of US$12.0 million,
primarily related to sales volume and product mix.

The increases in selling prices occurred within the Polymer
Additives, Performance Specialties and Consumer Products
segments and were the result of passing raw material cost
increases through to customers.  The company's selling prices
increases during the year have not offset increases in raw
material costs during 2007.

Operating profit of US$59.0 million for 2007 increased US$54.0
million as compared to operating profit of US$5.0 million for
2006.  This increase is primarily due a increase in gross profit
of US$29.0 million, lower antitrust costs of US$55.0 million,
lower merger costs of US$17.0 million and a US$61.0 million
reduction in charges for the impairment of long-lived assets,
partially offset by a US$65.0 million increase in depreciation
and amortization expense, US$31.0 million higher facility
closures, severance and related costs, higher SG&A of US$6.0
million, an increased loss on sale of businesses of US$4.0
million, a US$1.0 million increase in research and development
costs and other cost increases of US$1.0 million.

Loss from continuing operations for 2007 was US$45.0 million, as
compared to a loss of US$273.0 million for the same period of
2006.  This increase is primarily due to the increase in
operating profit and decreases in interest expense, loss on
early extinguishment of debt and income tax expense.

Interest expense decreased by US$15.0 million for 2007 compared
with the same period in 2006.  The decrease was due primarily to
the early retirement of the company's 9.875% Senior Notes due
2012 and the Floating Rate Notes due 2010 in 2006.

During 2006, the company recorded a loss on early extinguishment
of debt of US$44.0 million, which includes a US$20.0 million
loss from the May 2006 retirement of the 2010 Notes and a
US$24.0 million loss from the July 2006 retirement of the 2012
Notes.

The company's income tax expense for continuing operations was
US$4.0 million for 2007 as compared with income tax expense of
US$126.0 million for the same period of 2006.

The tax benefit of the company's pre-tax loss in 2007 was
reduced by non-deductible antitrust costs, the establishment of
tax reserves for uncertain tax positions and foreign income
subject to U.S. taxation, net of the relief from tax law changes
and income tax credits, resulting in tax expense of US$4.0
million for the year.

                     Discontinued Operations

For 2007, the company recorded a gain on sale of discontinued
operations of US$24.0 million.  The net after-tax gain is
comprised of a gain of US$3.0 million related to the sale of the
OrganoSilicones business representing the recognition of final
contingent earn-out proceeds, a gain of US$23.0 million related
to the sale of the EPDM business on July 29, 2007, and a loss of
US$2.0 million related to the sale of optical monomers on
Oct. 31, 2007.

For 2006, the company recorded a gain on sale of discontinued
operations of US$47.0 million related to the sale of the
OrganoSilicones business to General Electric Company in
July 2003.  This gain primarily represents the recognition of
the additional contingent earn-out proceeds.

Earnings from discontinued operations in 2007 of US$18.0 million
related to the EPDM business sold in June 2007, the optical
monomers business sold in October 2007, the fluorine business
sold in January 2008 and adjustments related to the sale of the
OrganoSilicones business sold in July 2003.  Earnings from
discontinued operations in 2006 of US$20.0 million related to
the EPDM business, the optical monomers business and the
fluorine business.

                            Total Debt

The company's total debt as of Dec. 31, 2007, was US$1.06
billion as compared with US$1.11 billion as of Dec. 31, 2006.
Cash and cash equivalents were US$77.0 million as of Dec. 31,
2007, compared to US$95.0 million as of Dec. 31, 2006.

                          Balance Sheet

At Dec. 31, 2007, the company's consolidated balance sheet
showed US$4.41 billion in total assets, US$2.56 billion in total
liabilities, and US$1.85 billion in total stockholders' equity.

Full-text copies of the company's consolidated financial
statements for the year ended Dec. 31, 2007, are available for
free at http://researcharchives.com/t/s?2957

                    About Chemtura Corporation

Headquartered in Middlebury, Connecticut, Chemtura Corp.
(NYSE: CEM) -- http://www.chemtura.com/-- is a manufacturer and
marketer of polymer additives, performance specialties, consumer
products and crop protection.  The company has facilities in
Singapore, Australia, China, Hong Kong, India, Japan, South
Korea, Taiwan, Thailand, Brazil, Belgium, France, Germany,
Mexico, and The United Kingdom.

                          *     *     *

In December 2007, Moody's Investors Service placed Chemtura
Corporation's corporate family rating of Ba2 under review for
possible downgrade after reports that its "board of directors
has authorized management to consider a wide range of strategic
alternatives available to the company to enhance shareholder
value."

Standard & Poor's Ratings Services similarly placed its 'BB+'
corporate credit and senior unsecured debt ratings of Chemtura
Corp. on CreditWatch with developing implications.


FERRO CORP: Posts US$94 Million Net Loss for Year Ended Dec. 31
---------------------------------------------------------------
Ferro Corporation filed its financial statements for the quarter
and year ended Dec. 31, 2007, in a 10-K filing with the U.S.
Securities and Exchange Commission.

Ferro Corp. had a net loss of US$94.4 million on net sales of
US$2.2 billion for the year ended Dec. 31, 2007, compared to a
net income of US$19.3 million on net sales of US$2.0 billion in
2006.

Sales for the year ended Dec. 31, 2007 were a record US$2.2
billion, up 8% from 2006.  Sales for the fourth quarter were
US$570.7 million, an increase of 14.8% from the fourth quarter
of 2006.

Net sales increased 8% in 2007 primarily as a result of product
price increases and favorable changes in foreign currency
exchange rates.  Compared with 2006, sales increased in the
Performance Coatings, Color and Glass Performance Materials,
Electronic Materials, and Polymer Additives segments.  Sales
declined in the Specialty Plastics and Other Businesses
segments.  Sales to customers outside the United States grew by
16% while sales within the United States fell by 1%.

Increased product prices and favorable changes in foreign
currency exchange rates were the primary drivers of the
increased sales. The effects of lower volume in Specialty
Plastics, porcelain enamel products in Performance Coatings, and
Polymer Additives partially offset the sales increases.  The
volume declines were largely the result of weak demand from U.S.
markets in automobiles, appliances and residential housing, the
company said.

Ferro Corp., at Dec. 31, 2007, had total assets of US$1.6
billion, total liabilities of US$1.1 billion, and a
stockholders' equity of US$476.2 million, compared to total
assets of US$1.7 billion, total liabilities of US$1.2 billion,
and a stockholders' equity of US$535.0 million at Dec. 31, 2006.

Total debt at the end of 2007 was US$526.1 million, a decrease
of US$66.3 million from the end of 2006.  The decline in debt
during 2007 was primarily the result of lower cash deposit
requirements for precious metal consignments.  In addition, the
company had net proceeds of US$54.6 million from its U.S.
accounts receivable securitization program at the end of 2007,
compared with US$60.6 million at the end of 2006.  The company
also had US$42.1 million in net proceeds from similar programs
outside the U.S. at the end of the year, compared with US$33.7
million at the end of 2006. The company generated US$144.6
million of net cash from operating activities during 2007.

Restructuring charges of US$16.9 million were recorded in 2007,
resulting from rationalization programs in the company's
European inorganic materials manufacturing facilities and costs
associated with discontinuing dielectric materials production at
an Electronic Materials manufacturing location in Niagara Falls,
New York.  The restructuring project in Electronic Materials was
completed in 2007, and the restructuring programs in Europe are
expected to continue through 2009.

                   2008 First-Quarter Estimates

Sales for the 2008 first quarter, ending March 31, are expected
to be approximately US$550 million to US$575 million compared
with sales of US$530 million in the first quarter of 2007,
reflecting an ongoing mix of business conditions in different
regions. Business conditions in the U.S. are expected to be
difficult due to continued weak demand from housing, appliances
and automotive markets.

Earnings for the first quarter are expected to be in the range
of US$0.12 to US$0.17 per share.  This estimate includes
expected charges of approximately US$0.05 per share, primarily
from the continuation of manufacturing rationalization
activities.  Also included in the first quarter estimates are
pre-tax charges of US$2 million to US$3 million to complete the
restoration of full wastewater treatment capabilities at the
company's Bridgeport, New Jersey, manufacturing plant.  The
company reported income from continuing operations of US$0.14
per share in the first quarter of 2007, including charges of
approximately US$0.08 per share.

"We continue to build a foundation for the future through
aggressive restructuring efforts and organizational change,"
said Chairman, President and Chief Executive Officer James F.
Kirsch. "While we are disappointed by our reported loss for
2007, we are encouraged by strong cash flow from net operating
activities and our ability to reduce debt.  We will continue to
drive cost and expense savings across the business, while
investing in our customer relationships and stressing the values
and behaviors that support our opportunities to win and enhance
value for our shareholders."

Mr. Kirsch added that the company is on track with the
restructuring programs it has initiated over the past 18 months,
and that Ferro remains committed to meeting its goal of 10
percent operating margins, as a percent of sales excluding
precious metals, in 2010.  This will be achieved through organic
growth of higher-value products, coupled with incremental
savings generated from Ferro's ongoing restructuring programs,
aggressive pursuit of manufacturing productivity improvements,
improved pricing for value, and expense reductions.

                     About Ferro Corporation

Based in Cleveland, Ohio, Ferro Corporation (NYSE: FOE) --
http://www.ferro.com/-- is a global producer of an array of
specialty chemicals including coatings, enamels, pigments,
plastic compounds, and specialty chemicals for use in industries
ranging from construction, pharmaceuticals and
telecommunications.  Ferro operates through the following five
primary business segments: Performance Coatings, Electronic
Materials, Color and Performance Glass Materials, Polymer
Additives, and Specialty Plastics.  Revenues were US$2 billion
for the FYE ended Dec. 31, 2006.

Ferro Corp. has global locations in Argentina, Australia,
Belgium, Brazil, China, among others.

                          *     *     *

Ferro Corp. carries Moody's Investors Service's B1 corporate
family rating assigned on May 2007.  Moody's also assigned a B1
rating to the company's US$200 million senior secured notes
(issued as unsecured notes in 2001) due in January 2009 and an
SGL-3 speculative grade liquidity rating.


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


GRAPHIC PACKAGING: Moody's Affirms Ratings on Altivity Merger
-------------------------------------------------------------
Moody's Investors Service affirmed Graphic Packaging
International Inc.'s B1 corporate family rating, B3 subordinated
notes, and SGL-3 speculative grade liquidity rating (indicating
adequate liquidity) following the announcement of the completed
combination of its operations with Altivity Packaging, LLC.
Moody's also assigned a Ba3 rating to the company's new US$1.2
billion term loan C due 2014.

The existing ratings have been downgraded on both the secured
bank facilities, to Ba3 from Ba2, and the senior unsecured
notes, to B3 from B2, due to the revised capital structure.  The
additional amounts of senior secured debt move the ratings of
this debt toward the B1 corporate family rating while the senior
unsecured notes are lowered by one notch.  The outlook remains
negative.   Proceeds from the transaction will be used to pay
off Altivity's existing debt, thus Altivity's ratings have been
withdrawn.

Rating and Outlook Actions:

Issuer: Graphic Packaging International Inc.

Affirmed:

  -- Corporate family rating affirmed at B1

  -- 9.5% Subordinated notes due 2013 affirmed at B3 (LGD 6,
     94%)

  -- Outlook remains Negative

Assigned:

  -- Senior secured term loan C assigned Ba3 (LGD3, 35%)

Downgraded:

  -- Senior secured bank facilities downgraded to Ba3 from Ba2
     (LGD3, 35%)

  -- 8.5% Senior unsecured notes due 2011 downgraded to B3 from
     B2 (LGD 5, 79%)

The affirmation of the corporate family rating still reflects
Moody's view that the combination of the two companies is a
credit neutral event.  Leverage remains high relative to the
company's corporate family rating, but Moody's expects credit
protection measures to improve from recently observed levels
primarily due to recent positive supply trends in the paperboard
sector, stabilizing input costs, and the successful
renegotiation of pricing terms with contracted customers in the
beverage business.

The favorable pricing terms will provide additional pass-through
flexibility during periods of escalating input costs.  In
addition, given the two companies' geographic and product line
overlap, the prospective transaction provides opportunities for
cost savings and synergies.  Synergies include enhanced
procurement, plant rationalization, mill optimization and SG&A
savings.  Specifically, Moody's believes these factors will
provide the company with an opportunity to improve margins,
generate free cash flow, and reduce debt to support the existing
ratings.

Graphic Packaging generated better-than-expected operating
results in 2006 and 2007.  Energy costs have begun to moderate,
additional mill closures have been announced in the paperboard
sector, prices for CUK (coated unbleached kraft) and CRB (coated
recycled board) have increased, cost savings have been executed,
and renegotiated contracts in the beverage business have
economically benefited the company.  With respect to Altivity,
management has executed on certain of its cost reduction efforts
after Moody's initial ratings in June 2006.  However, even with
this progress, Moody's believes that relatively flat demand
levels within the consumer packaging paper industry could affect
recent price increases and the company's ability to sustain
margin improvements.

Furthermore, management will continue to face challenges as it
attempts to integrate the two companies while managing its
exposure to high input costs and the pressure of creating
innovative products in a competitive industry.  Thus, the
company's actual debt reduction over the intermediate period may
not support the existing ratings.  Moody's continues to maintain
a negative outlook on the ratings based on these rating drivers.
If it is not evident that the company is making progress towards
achieving acceptable leverage (towards 5.0x EBITDA) on an
adjusted basis, the ratings may go down.  At the same time,
Moody's will likely stabilize the outlook if the company
demonstrates the execution of its current debt reduction and
integration plans and reduces leverage to 5.0x EBITDA.

Headquartered in Marietta, Georgia, Graphic Packaging
Corporation (NYSE:GPK) -- http://www.graphicpackaging.com/-- is
a provides paperboard packaging solutions for a variety of
products to multinational and other consumer products companies.
The company provides its customers paperboard, cartons and
packaging machines, either as an integrated solution or
separately.  Its packaging products are made from a variety of
grades of paperboard.  GPC manufactures its packaging products
from coated unbleached kraft paperboard and coated recycled
paperboard that it produces at its mills, and a portion from
paperboard purchased from external sources.  The company
operates in four geographic areas: the United States, Central
and South America (Brazil), Europe and Asia-Pacific.   GPC
conducts its business in two segments, paperboard packaging and
containerboard/other.


SR TELECOM: Selling Assets to Groupe Lagasse for US$6 Million
-------------------------------------------------------------
SR Telecom Inc. signed an asset purchase agreement to sell
majority of its assets, including its WiMAZ Forum-certified
symmetryMX product line, to Groupe Lagasse for an aggregate
consideration of US$6.05 million payable at closing and by the
assumption of certain stated liabilities.

The transaction, once completed, will provide continuity for SR
Telecom's international customer base and permit the company to
grow and capitalize on its many WiMAX opportunities.  The
transaction, which is subject to certain closing conditions and
court approval, is expected to close on or before April 4, 2008.

"We are pleased to reach this agreement with Groupe Lagasse,"
said Serge Fortin, President and CEO of SR Telecom.  "Their
international presence, financial strength and entrepreneurial
spirit, along with their knowledge and expertise in the high
technology field, make Groupe Lagasse a strong financial and
operational purchaser for SR Telecom’s business.  This deal
clearly benefits our employees and our customers around the
world as it will enable us to quickly resume normal operations,
and accelerate the development, delivery and deployment of our
leading-edge WiMAX solutions."

"Groupe Lagasse had been searching for ways to tap in to the
WiMAX market for quite some time," Louis Lagasse, Chairman of
Groupe Lagasse said.  "In SR Telecom, we saw an organization
possessing a solid business plan, a strong management team, a
significant order pipeline, and an unequaled depth of expertise
and experience in wireless telecommunications.  This acquisition
allows us to leverage the synergies between our current
organization and SR Telecom to immediately enter the rapidly-
growing global WiMAX market as a major player with a feature-
rich, field-proven product line."

Under terms of the agreement, Groupe Lagasse will purchase SR
Telecom’s brand, trademarks, intellectual property, patents,
inventories and equipment relating to its symmetryMX product
line.  It is not expected that SR Telecom shareholders will
receive any value out of the proceeds of such sale.

SR Telecom filed for creditor protection under the CCAA on
Nov. 19, 2007.  On Feb. 29, 2008, it announced that it had
obtained an order from the Quebec Superior Court to extend the
period of the court-ordered stay of proceedings against SR
Telecom under the CCAA to May 2, 2008.

Headquartered in Quebec, Canada, Groupe Lagasse --
http://www.groupelagasse.com/-- is an international company
with manufacturing and products business units that focus on
providing leading edge, rugged, high reliability, and high
availability solutions for the private and public sectors.  Its
activities include electronic manufacturing expertise for secure
radio and telecom products that address the entire product life
cycle.  Groupe Lagasse is a privately held holding whose sales,
in 2007, exceeded CDN200 million; the group has operations in
Europe and North America and employs over 1,000 people
worldwide.

Headquartered in Quebec, Canada, SR Telecom (TSX: SRX) --
http://www.srtelecom.com/-- delivers broadband wireless access
(BWA) solutions that enable service providers to deploy voice,
Internet and next-generation services in urban, suburban and
remote areas.  The company has offices in Mexico, France and
Thailand.

SR Telecom Inc.'s consolidated balance sheet at June 30, 2007,
showed CDN$83.9 million in total assets and CDN$97.9 million
in total liabilities, resulting in a CDN$14.0 million total
stockholders' deficit.


TECUMSEH PRODUCTS: Shareholder Asks Board to Study Sale of Biz
--------------------------------------------------------------
Tecumseh Products Company's board of directors received a letter
from the Herrick Foundation, a shareholder of Tecumseh, in which
the foundation requested, among other things, that the board
form a committee to explore a possible sale of the company.

In addition, the Herrick Foundation suggested that the company
take various actions to change the company's corporate
governance posture, including seeking shareholder approval at
Tecumseh's 2008 annual shareholders meeting to eliminate
provisions contained in the company's amended certificate of
incorporation that protect Class A shareholders.

On March 11, 2008, Edwin L. Buker, chairman of the board, chief
executive officer and president of Tecumseh, sent a letter to
The Herrick Foundation stating that the requests contained in
the foundation's March 10 letter will be appropriately
considered by the board in due course, consistent with its
fiduciary duties.

Mr. Buker further advised The Herrick Foundation that neither
the foundation nor any of its representatives or affiliates has
been authorized by Tecumseh to pursue a sale of, or any other
transaction involving, Tecumseh.

                 About Tecumseh Products Company

Headquartered in Tecumseh, Michigan, Tecumseh Products Company
(Nasdaq: TECUA, TECUB) -- http://www.tecumseh.com/--
manufactures hermetic compressors for air conditioning and
refrigeration products, gasoline engines and power train
components for lawn and garden applications, submersible pumps,
and small electric motors.  The company has offices in Italy,
United Kingdom, Brazil, France, and India.

In March of 2007, the company's Brazilian engine subsidiary, TMT
Motoco, was granted permission by the Brazilian courts to pursue
a judicial restructuring, similar to a U.S. filing for Chapter
11 bankruptcy protection.  The TMT Motoco filing in Brazil
constituted an event of default with our domestic lenders.
On April 9, 2007, the company obtained amendments to its First
and Second Lien Credit Agreements that cured the cross-default
provisions triggered by the filing in Brazil.


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


AAA TRAVEL: Claims Registration Period Ends March 15
----------------------------------------------------
Creditors of AAA Travel 24 GmbH have until March 15, 2008, to
register their claims with court-appointed insolvency manager
Dr. Frank Kebekus.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on May 7, 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:

         Dr. Frank Kebekus
         Carl-Theodor-Str. 1
         40213 Duesseldorf.Forderungen
         Germany

The District Court of Duesseldorf opened bankruptcy proceedings
against AAA Travel 24 GmbH on March 11, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         AAA Travel 24 GmbH
         Attn: Rolf Albers, Manager
         Am Kapellengraben 11
         40670 Meerbusch
         Germany


ALPHACALL GMBH: Claims Registration Period Ends April 14
--------------------------------------------------------
Creditors of AlphaCall GmbH have until April 14, 2008, to
register their claims with court-appointed insolvency manager
Dr. Matthias Fischer.

Creditors and other interested parties are encouraged to attend
the meeting at 11:01 a.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 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:

          Dr. Matthias Fischer
          c/o hww Kiel
          Am Germaniahafen 2
          24143 Kiel
          Germany

The District Court of Flensburg opened bankruptcy proceedings
against AlphaCall GmbH  on Feb. 27, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         AlphaCall GmbH
         Philipp-Lassen-Koppel 19
         24943 Flensburg
         Germany


AUTOHAUS KIESEL-JANKE: Claims Registration Period Ends April 14
---------------------------------------------------------------
Creditors of Autohaus Kiesel-Janke GmbH have until April 14,
2008, to register their claims with court-appointed insolvency
manager Dr. Oliver Liersch.

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 Gifhorn
         Hall 118
         Schlossgarten 4
         38518 Gifhorn
         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. Oliver Liersch
         Schultze & Braun Rechtsanwaltsgesellschaft mbH
         Karl-Wiechert-Allee 1 c
         30625 Hannover
         Germany
         Tel: 0511/554706-0
         Fax: 0511/554706-99
         E-mail: OLiersch@schubra.de

The District Court of Gifhorn opened bankruptcy proceedings
against Autohaus Kiesel-Janke GmbH on March 1, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Autohaus Kiesel-Janke GmbH
         Attn: Udilo Kiesel-Janke, Manager
         Vor dem Hannoverschen Tor 23
         31303 Burgdorf
         Germany


AUTOHAUS VOLK: Claims Registration Period Ends April 2
------------------------------------------------------
Creditors of Autohaus Volk GmbH have until April 2, 2008, to
register their claims with court-appointed insolvency manager
Arndt Geiwitz.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 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 Augsburg
          Meeting Hall 162
          Alten Einlass 1
          86150 Augsburg
          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:

          Arndt Geiwitz
          c/o SKP Partnerschaftsgesellschaft
          Eserwallstr. 1-3
          86150 Augsburg
          Germany

The District Court of Augsburg opened bankruptcy proceedings
against Autohaus Volk GmbH on March 1, 2008.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

          Autohaus Volk GmbH
          Attn: Franz Volk, Manager
          Eichleitnerstr. 6
          86199 Augsburg
          Germany


BAUFRANK CONSULT: Claims Registration Period Ends April 14
----------------------------------------------------------
Creditors of Baufrank consult Vermoegensverwaltung GmbH & Co. KG
have until April 14, 2008, to register their claims with court-
appointed insolvency manager Susanne Fichna.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on May 16, 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 Ansbach
         Meeting Room 1
         Promenade 8
         91522 Ansbach
         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 Fichna
         Merckstr. 5
         91522 Ansbach
         Germany
         Tel: 0981/9531960
         Fax: 0981/9531969

The District Court of Ansbach opened bankruptcy proceedings
against Baufrank consult Vermoegensverwaltung GmbH & Co. KG on
March 11, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         Baufrank consult
         Vermoegensverwaltung GmbH & Co. KG
         Bahnhofstr. 37
         91717 Wassertrüdingen
         Germany


BBF GMBH: Claims Registration Period Ends April 14
--------------------------------------------------
Creditors of BBF GmbH have until April 14, 2008, to register
their claims with court-appointed insolvency manager Achim
Thomas Thiele.

Creditors and other interested parties are encouraged to attend
the meeting at 11:00 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:

         Achim Thomas Thiele
         Bronnerstrasse 7
         44141 Dortmund
         Germany

The District Court of Dortmund opened bankruptcy proceedings
against BBF GmbH on Feb. 25, 2008.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         BBF GmbH
         Provizialstr. 148
         44388 Dortmund
         Germany


BG VERWALTUNGS: Claims Registration Period Ends April 11
--------------------------------------------------------
Creditors of BG Verwaltungs GmbH & Co KG have until
April 11, 2008, to register their claims with court-appointed
insolvency manager Rolf Rombach.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.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 Erfurt
         Hall 12
         Judicial Center
         Rudolfstr. 46
         99092 Erfurt
         Germany

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

The insolvency manager can be reached at:

         Rolf Rombach
         Magdeburger Allee 159
         99086 Erfurt
         Germany
         Tel: 0361/730650

The District Court of Erfurt opened bankruptcy proceedings
against BG Verwaltungs GmbH & Co KG on March 10, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         BG Verwaltungs GmbH & Co KG
         Wartburgallee 25 a
         99817 Eisenach
         Germany

         Attn: Roland Mueller, Manager
         Strasse des Friedens 5
         99094 Erfurt
         Germany


FACHBUCHHANDLUNG FUER INFORMATIK: Claims Filing Ends April 2
------------------------------------------------------------
Creditors of Fachbuchhandlung fuer Informatik und Elektronik
Staak & Beirich GmbH have until April 2, 2008, to register their
claims with court-appointed insolvency manager Claudia Jansen.

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

          Claudia Jansen
          Bettinastrasse 35-37
          D 60325 Frankfurt/Main
          Germany
          Tel: 069/7561466-0
          Fax: 069/7561466-160

The District Court of Frankfurt (Main) opened bankruptcy
proceedings against Fachbuchhandlung fuer Informatik und
Elektronik Staak & Beirich GmbH on March 5, 2008.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

          Fachbuchhandlung fuer Informatik und
          Elektronik Staak & Beirich GmbH
          Braubachstr. 5
          60311 Frankfurt/Main
          Germany


HYMMEN-SCHRAUBEN: Claims Registration Period Ends April 1
---------------------------------------------------------
Creditors of Hymmen-Schrauben GmbH & Co. KG have until April 1,
2008, to register their claims with court-appointed insolvency
manager Thomas Neumann.

Creditors and other interested parties are encouraged to attend
the meeting at 8:30 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 Hagen
          Hall 252
          Second Floor
          Heinitzstrasse 42/44
          58097 Hagen
          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 Neumann
          Altenaer Str. 31
          58507 Luedenscheid
          Germany

The District Court of Hagen opened bankruptcy proceedings
against Hymmen-Schrauben GmbH & Co. KG on March 5, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

          Hymmen-Schrauben GmbH & Co. KG
          Tarrenbrink 1
          58540 Meinerzhagen
          Germany


INFLUX CASHFLOW: Claims Registration Period Ends April 14
---------------------------------------------------------
Creditors of Influx Cashflow Concept GmbH have until April 14,
2008, to register their claims with court-appointed insolvency
manager Axel W. Bierbach.

Creditors and other interested parties are encouraged to attend
the meeting at 9:10 a.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 Munich
         Meeting Hall 102
         Infanteriestr. 5
         80097 Munich
         Germany

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

The insolvency manager can be reached at:

         Axel W. Bierbach
         Schwanthalerstr. 32
         80336 Munich
         Germany
         Tel: 54511-0
         Fax: 54511-444

The District Court of Munich opened bankruptcy proceedings
against Influx Cashflow Concept GmbH on Feb. 26, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Influx Cashflow Concept GmbH
         Brunnenfeldstr. 62
         85778 Haimhausen
         Germany


FAHNENFABRIK WEDEMARK: Claims Registration Period Ends April 14
---------------------------------------------------------------
Creditors of Fahnenfabrik Wedemark GmbH have until April 14,
2008, to register their claims with court-appointed insolvency
manager Manuel Sack.

Creditors and other interested parties are encouraged to attend
the meeting at 11:20 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 Hannover
         Hall 226
         Second Upper Floor
         Service Bldg.
         Hamburger Allee 26
         30161 Hannover
         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:

         Manuel Sack
         Schiffgraben 30
         30175 Hannover
         Germany
         Tel: 0511 36602-0
         Fax: 0511 36602-55

The District Court of Hannover opened bankruptcy proceedings
against Fahnenfabrik Wedemark GmbH on Feb. 29, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Fahnenfabrik Wedemark GmbH
         Schaumburger Str. 11
         30900 Wedemark
         Germany


FORUM MASSIMO: Claims Registration Period Ends April 14
-------------------------------------------------------
Creditors of Forum Massimo Gastronomie GmbH have until April 14,
2008, to register their claims with court-appointed insolvency
manager Heiko Fialski.

Creditors and other interested parties are encouraged to attend
the meeting at 10:05 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 Hamburg
         Hall B 405
         Fourth Floor Annex
         Civil Justice Bldg.
         Sievkingplatz 1
         20355 Hamburg
         Germany

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

The insolvency manager can be reached at:

         Heiko Fialski
         Raboisen 38
         20095 Hamburg
         Germany

The District Court of Hamburg opened bankruptcy proceedings
against Forum Massimo Gastronomie GmbH on Feb. 27, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Forum Massimo Gastronomie GmbH
         Moenckebergstrasse 7
         20095 Hamburg
         Germany


GEBRA GMBH: Claims Registration Ends April 7
--------------------------------------------
Creditors of GEBRA GmbH Projektierung von Rohrleitungen und
Anlagen zur Foerderung brennbarer Fluessigkeitenhave until
April 7, 2008 to register their claims with court-appointed
insolvency manager Anke Keller.

Creditors and other interested parties are encouraged to attend
the meeting at 4:00 a.m. on April 29, 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 Muehldort a. Inn
         Hall 112
         Innstrasse 1
         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:

         Anke Keller
         Leopoldstrasse 139
         80804 Munich
         Germany

The District Court of Muehldort a. Inn opened bankruptcy
proceedings against GEBRA GmbH Projektierung von Rohrleitungen
und Anlagen zur Foerderung brennbarer Fluessigkeitenon March 6,
2008.  Consequently, all pending proceedings against the company
have been automatically stayed.

The Debtor can be reached at:

         GEBRA GmbH Projektierung von Rohrleitungen und
         Anlagen zur Foerderung brennbarer Fluessigkeiten
         Attn: Matthias Glonegger, Manager
         Loipl 5
         84553 Halsbach
         Germany


GUENTER BAU: Claims Registration Period Ends April 14
-----------------------------------------------------
Creditors of Guenter Bau Verwaltungs GmbH have until
April 14, 2008, to register their claims with court-appointed
insolvency manager Dr. Christof Heil.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 a.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 Villingen-Schwenningen
         Hall 2
         Niedere Str. 94
         78050 Villingen-Schwenningen
         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. Christof Heil
         Am Niederen Tor 1
         78050 Villingen-Schwenningen
         Germany
         Tel: 0 77 21 / 88 78 3-0

The District Court of Villingen-Schwenningen opened bankruptcy
proceedings against Guenter Bau Verwaltungs GmbH on March 11,
2008.  Consequently, all pending proceedings against the company
have been automatically stayed.

The Debtor can be reached at:

         Guenter Bau Verwaltungs GmbH
         Attn: Andreas Guenter, Manager
         Abendgrundweg 4
         78089 Unterkirnach
         Germany


KOERBELITZER FRUCHTMARKT: Claims Registration Ends April 1
----------------------------------------------------------
Creditors of Koerbelitzer Fruchtmarkt-Service GmbH have until
April 1, 2008, to register their claims with court-appointed
insolvency manager Joachim M. E. Voigt-Salus.

Creditors and other interested parties are encouraged to attend
the meeting at 2:25 p.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 Dessau-Rosslau
          Hall 123
          Willy-Lohmann-Str. 33
          Dessau
          Germany

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

The insolvency manager can be reached at:

          Joachim M. E. Voigt-Salus
          Rankestrasse 33
          10789 Berlin
          Germany
          Tel: 030/2128020
          Fax: 030/21280222

The District Court of Dessau-Rosslau opened bankruptcy
proceedings against Koerbelitzer Fruchtmarkt-Service GmbH on
March 6, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

          Koerbelitzer Fruchtmarkt-Service GmbH
          Attn: Heidemarie Mattstedt, Manager
          Duennhauptstrasse 10
          06847 Dessau-Rosslau
          Germany


KOMPLEX IMMOBILIEN: Claims Registration Period Ends April 9
-----------------------------------------------------------
Creditors of Komplex Immobilien Verwaltungs- und Vermarktungs-
GmbH have until April 9, 2008, to register their claims with
court-appointed insolvency manager Arne Brumm.

Creditors and other interested parties are encouraged to attend
the meeting at 10:35 a.m. on May 7, 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 Magdeburg
         Hall 14
         Breiter Weg 203 - 206
         39104 Magdeburg
         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:

         Arne Brumm
         Koenigstrasse 17
         39116 Magdeburg
         Germany
         Tel: 0391/ 5971240
         Fax: 0391/ 5971241

The District Court of Magdeburg opened bankruptcy proceedings
against Komplex Immobilien Verwaltungs- und Vermarktungs-GmbH on
March 10, 2008.  Consequently, all pending proceedings against
the company have been automatically stayed.

The Debtor can be reached at:

         Komplex Immobilien Verwaltungs- und
         Vermarktungs-GmbH
         Prinzenberg 18
         39418 Stassfurt
         Germany

         Attn: Juergen Mickley, Manager
         Schlachthofstr. 9 A
         39418 Stassfurt
         Germany


LANGENHOF GEFLUEGELFARM: Claims Registration Ends April 7
---------------------------------------------------------
Creditors of Langenhof Gefluegelfarm GmbH have until April 7,
2008 to register their claims with court-appointed insolvency
manager Frank M. Welsch.

Creditors and other interested parties are encouraged to attend
the meeting at 10:20 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 Bielefeld
         Meeting Hall 4065
         Fourth Floor
         Gerichtstrasse 66
         33602 Bielefeld
         Germany

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

The insolvency manager can be reached at:

         Frank M. Welsch
         Barkeystrasse 30
         33330 Guetersloh
         Germany

The District Court of Bielefeld opened bankruptcy proceedings
against Langenhof Gefluegelfarm GmbH on March 3, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Langenhof Gefluegelfarm GmbH
         Attn: Jan Soetendaal, Manager
         Lange Strasse 40
         33775 Versmold
         Germany


MARMOR SOMMERFELD: Claims Registration Ends April 7
---------------------------------------------------
Creditors of Marmor Sommerfeld Steinmetz GmbH have until
April 7, 2008 to register their claims with court-appointed
insolvency manager Michael Schoor.

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

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

The insolvency manager can be reached at:

         Michael Schoor
         Schorlemmerstrasse 2
         04155 Leipzig
         Germany
         Tel: 0341/4903650
         Fax: 0341/4903699

The District Court of Dessau opened bankruptcy proceedings
against  Marmor Sommerfeld Steinmetz GmbH on March 6, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Marmor Sommerfeld Steinmetz GmbH
         Hauptstrasse 129
         06926 Holzdorf
         Germany

         Attn: Wolfgang Sommerfeld, Manager
         Hauptstr. 162
         06926 Holzdorf
         Germany


OMA RINK: Claims Registration Ends April 4
------------------------------------------
Creditors of Oma Rink Gaststatten GmbH have until April 4, 2008
to register their claims with court-appointed insolvency manager
Peter Jost.

Creditors and other interested parties are encouraged to attend
the meeting at 8:35 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 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:

         Peter Jost
         Pfingstweidstrasse 3, D
         60316 Frankfurt (Main)
         Germany
         Tel: 069/209739-0
         Fax: 069/20973929

The District Court of Frankfurt am Main opened bankruptcy
proceedings against Oma Rink Gaststatten GmbH on Feb. 29, 2008.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         Oma Rink Gaststatten GmbH
         Musikantenweg 68
         60316 Frankfurt (Main)
         Germany


R & H - HANDELS: Claims Registration Period Ends April 11
---------------------------------------------------------
Creditors of R & H - Handels GmbH have until April 11, 2008, to
register their claims with court-appointed insolvency manager
Ulrich Rosenkranz.

Creditors and other interested parties are encouraged to attend
the meeting at 10:45 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 Schwerin
         Hall 7
         Demmlerplatz 14
         Germany

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

The insolvency manager can be reached at:

         Ulrich Rosenkranz
         Osdorfer Landstrasse 230
         22549 Hamburg
         Germany

The District Court of Schwerin opened bankruptcy proceedings
against R & H - Handels GmbH on March 6, 2008.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be reached at:

         R & H - Handels GmbH
         Werkstrasse 711
         19061 Schwerin
         Germany

         Attn: Stefan Hartmann, Manager
         Carl-Malchin-Strasse 8
         19061 Schwerin
         Germany


R & K GMBH: Claims Registration Ends April 4
--------------------------------------------
Creditors of R & K GmbH have until April 4, 2008 to register
their claims with court-appointed insolvency manager Dr. Frank
Kebekus.

Creditors and other interested parties are encouraged to attend
the meeting at 8:00 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 Paderborn
         Meeting Hall 230a
         Second Floor
         Bogen 2-4
         33098 Paderborn
         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. Frank Kebekus
         Busdorfwall 22
         33098 Paderborn
         Germany
         Tel: 05251-180660
         Fax: 05251-1806666

The District Court of Paderborn opened bankruptcy proceedings
against R & K GmbH on March 6, 2008.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be reached at:

         R & K GmbH
         Attn: Ruediger Alexander Beckmann-Kummer, Manager
         Gaussstr. 5-7
         37603 Holzminden
         Germany


RADEBERGER SANIERUNGSGESELLSCHAFT: Claims Filing Ends April 3
-------------------------------------------------------------
Creditors of Radeberger Sanie