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

                    L A T I N   A M E R I C A

          Thursday, October 18, 2007, Vol. 8, Issue 207

                          Headlines

A R G E N T I N A

ACONSAC SA: Proofs of Claim Verification Deadline Is Dec. 11
BANCO PATAGONIA: Denies Takeover Bid by Banco Itau
BAXI HOLDINGS: S&P Affirms B Long-Term Corp. Credit Rating
BRAVO BARROS: Proofs of Claim Verification Ends on Nov. 7
COMPANIA LATINOAMERICANA: S&P Puts BB+ Rtgs. on US$115-Mln Notes

CONSTRUCCIONES RIAZOR: Trustee Filing General Report Tomorrow
D AMARIO: Trustee Filing Individual Reports in Court Tomorrow
DELTA AIR: S&P Affirms B Rating; Revises Outlook to Positive
DISTRIYER SRL: Trustee Filing General Report in Court Tomorrow
FASHION SA: Creditors Voting on Settlement Plan Tomorrow

FILTERS SRL: Proofs of Claim Verification Deadline Is Dec. 3
PERSONAL DE YPF: Trustee Filing General Report in Court Tomorrow
SALUD OCUPACIONAL: Proofs of Claim Verification Is Until Oct. 26
SERVIPACK SA: Proofs of Claim Verification Deadline Is Dec. 7
SOLICITAS SRL: Proofs of Claim Verification Is Until Nov. 22

TARAI SA: Trustee Filing General Report in Court Tomorrow
TELECOM ARGENTINA: Gov't Forms Panel To Check Telefonica Deal
TELEFONICA DE ARGENTINA: Gov't Forms Board To Check Italia Buy
TERCER MILENIO: Proofs of Claim Verification Deadline Is Feb. 4


B E R M U D A

KOCH TREASURY: Proofs of Claim Filing Ends on Nov. 9
LANNER RE: Proofs of Claim Filing Deadline Is Oct. 19
ODYSSEY TRADING: Proofs of Claim Filing Deadline Is Oct. 24
ROYALE RESORTS: Proofs of Claim Filing Is Until Oct. 24


B O L I V I A

INT'L PAPER: Gives US$1 Million to Support Zero Waste Campaign


B R A Z I L

ARROW ELECTRONICS: Earns US$99.2 Million in Qtr. Ended June 30
ARVINMERITOR INC: Inks Joint Venture Pact with TRW Automotive
BRASIL TELECOM: Extends Use of Oracle Communications Services
EL PASO: Units Receive Requisite Consents on Notes Offerings
FORD MOTOR: Expects to Sell British Marques in Two Months

GENERAL MOTORS: Moody's Revises Outlook to Positive
TRW AUTOMOTIVE: Inks Joint Venture Pact with Arvinmeritor Inc.


C A Y M A N   I S L A N D S

BALSAM EQUITY: Creditors Must File Proofs of Claim by Nov. 5
BALSAM EQUITY INVESTMENTS: Proofs of Claim Filing Ends on Nov. 5
BALSAM HOLDINGS: Creditors Must File Proofs of Claim by Nov. 5
BALSAM INVESTMENTS: Proofs of Claim Filing Is Until Nov. 5
GALATEA FUND: Proofs of Claim Must be Filed by Nov. 14

GFIA-SHK MANAGERS: Creditors Must File Proofs of Claim by Nov. 7
HEDERA INVESTMENTS: Proofs of Claim Filing Ends on Nov. 5
ILLINOIS MASONIC: Proofs of Claim Filing Deadline Is Nov. 30
ILLINOIS MASONIC: Sets Final Shareholders Meeting for Dec. 31
MASTR CI-8: Will Hold Final Shareholders Meeting on Dec. 14

ML CBO: Holding Final Shareholders Meeting on Dec. 14
PGI ENTREPRENEURS: Final Shareholders Meeting Is on Dec. 14
QUANTIVA INVESTMENT: Proofs of Claim Filing Deadline Is Nov. 6
REMARKABLE FUNDING: Final Shareholders Meeting Is on Dec. 14
SEAGATE TECH: Earns US$355 Million in Quarter Ended Sept. 28

SMOKY RIVER CDO GP: Sets Final Shareholders Meeting for Dec. 14
SMOKY RIVER CDO LP: To Hold Last Shareholders Meeting on Dec. 14
STONE HARBOR: Creditors Must File Proofs of Claim by Nov. 5
STONE HARBOR OFFSHORE: Proofs of Claim Filing Deadline Is Nov. 5
TECH CHAIN: Creditors Must File Proofs of Claim by Nov. 5

TRIO ASSET: Sets Final Shareholders Meeting for Dec. 14
VERITAS HIGH: Proofs of Claim Filing Is Until Nov. 5
WEST 57 FINANCE: Creditors Must File Proofs of Claim by Nov. 5


C H I L E

GMAC LLC: Moody's Maintains Negative Outlook on Ba1 Ratings
HOUGHTON INT'L: Moody's Reviews B2 Rating for Likely Downgrade
HOUGHTON INT'L: S&P Places B+ Rating on Watch Negative


C O L O M B I A

EMPRESA DE ENERGIA: Proposes Sale of US$710-Million in Bonds
EMPRESA DE ENERGIA: Fitch Rates US$710 Mil. Proposed Issue at BB
EMPRESA DE ENERGIA: S&P Puts BB+ Rating on US$710-Mil. Notes


C O S T A   R I C A

CAREY INTERNATIONAL: S&P Withdraws CCC- Corporate Credit Rating


E L   S A L V A D O R

AES CORP: Commences Cash Tender Offer for US$1.24-Bln Sr. Notes


G U A T E M A L A

AFFILIATED COMPUTER: Earns US$37.6 Mln in 4th Qtr. Ended June 30


J A M A I C A

NATIONAL WATER: Must Stop Road Works, Says Kingston Mayor
SUGAR COMPANY: Factory Sale Process Upsets All-Island Jamaica


M E X I C O

AMSCAN HOLDINGS: S&P's Holds BB- Rating on US$250-Mil. Credit
ATARI INC: Appoints Four Independent Board of Directors
BAUSCH & LOMB: Moody's Withdraws Caa1 Ratings on PIK Notes
BLOCKBUSTER INC: Names Eric Peterson EVP, Gen. Counsel & Sec.
COLLINS & AIKMAN: Continues Sale of 400 Patents Despite Closure

COLLINS & AIKMAN: Joint Amended Plan Effective as of October 12
COLLINS & AIKMAN: Shuts Down Operations After Asset Sale
FIRST DATA: Moody's Puts B3 Rating on US$3.75B Sr. Unsec. Notes
FIRST DATA: Opens New Merchant Acquiring Business in Canada
MOVIE GALLERY: Case Summary & 30 Largest Unsecured Creditors

MOVIE GALLERY: Gets Interim Approval on US$140MM DIP Financing
MOVIE GALLERY: Bankruptcy Filing Results to S&P's D Rating
OPEN TEXT: RedDot Extends Partnership with Infused Solutions
REMY WORLDWIDE: Wants to Assume Caterpillar Inventory Agreement
REMY WORLDWIDE: Wants to Employ AP Services as Crisis Manager


P A N A M A

BANCO LATINOAMERICANO: Renews US$25MM Andean Dev't Credit Line
CHIQUITA BRANDS: Fresh Express Acquires Verdelli Farms
SOLO CUP: Closes Biz Sale; Reduces Debt Up to US$325 Million


P E R U

COMVERSE TECH: Appoints John Bunyan as Chief Marketing Officer


P U E R T O   R I C O

COOPER COMPANIES: Moody's Affirms Ba3 Rating on US$350MM Notes
TOYS "R" US: Mothers Call on KKR to Adopt Child Safety Measures


V E N E Z U E L A

BCBG MAX: S&P Affirms Corporate Credit Rating at B-
CHRYSLER LLC: Will Fund Employees' Health Trust with US$8.8 Bil.
PEABODY ENERGY: Appoints VP & Assistant Operations Controller
PEABODY ENERGY: Names Kenneth Wagner VP & Assistant Gen. Counsel
SHAW GROUP: Names Brian Ferraioli as Chief Financial Officer


                         - - - - -


=================
A R G E N T I N A
=================


ACONSAC SA: Proofs of Claim Verification Deadline Is Dec. 11
------------------------------------------------------------
Maria Lilia Orazi, the court-appointed trustee for Aconsac
S.A.'s bankruptcy proceeding, verifies creditors' proofs of
claim until Dec. 11, 2007.

Ms. Orazi will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance in Buenos Aires will determine if the verified claims
are admissible, taking into account the trustee's opinion, and
the objections and challenges that will be raised by Aconsac and
its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Aconsac's accounting
and banking records will be submitted in court.

Infobae didn't state the reports submission deadlines.

Ms. Orazi is also in charge of administering Aconsac's assets
under court supervision and will take part in their disposal to
the extent established by law.

The trustee can be reached at:

          Maria Lilia Orazi
          Tucuman 1484
          Buenos Aires, Argentina


BANCO PATAGONIA: Denies Takeover Bid by Banco Itau
--------------------------------------------------
Banco Patagonia denied in a filing with the Buenos Aires stock
exchange press reports saying that it was being considered for a
takeover bid by Brazil's Banco Itau.

Banco Patagonia's market relations head, Guillermo Pedro, told
Business News Americas that the rumors are "unfounded."

Banco Patagonia said in a statement, "Neither the bank nor its
controlling shareholders are considering the possibility of a
sale or another transaction that might imply a modification in
the bank's governing structure or control."

Banco Patagonia specializes in public offerings of
securitizations.  It became Argentina's fifth largest locally
owned private bank through its purchase of Lloyds TSB Argentina
in late 2004.  The bank operates through 139 branches and has
202 ATM machines.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 4, 2007, Moody's Investors Service upgraded Banco Patagonia
SA's local currency deposit rating is upgraded to Ba1 from Ba3.
Moody's confirmed that it raised its bank financial strength
rating on Banco Patagonia to D from E+, in connection with the
rating agency's implementation of its refined joint default
analysis and updated BFSR methodologies for banks in Argentina.
Its foreign currency deposit rating was affirmed at Caa1, with
positive outlook.  The company's long-term Argentine national
scale rating for local currency deposits is raised to Aa1.ar
from Aa2.ar. and its long term foreign currency deposit rating
in national scale was affirmed at Ba1.ar.  The foreign currency
subordinated debt rating was upgraded to B2 from Caa1.  The
outlook on the debt rating was positive.  The national scale
rating for foreign currency subordinated debt was raised to
Aa3.ar from Ba1.ar.


BAXI HOLDINGS: S&P Affirms B Long-Term Corp. Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services has affirmed its 'B' long-
term corporate credit rating on Baxi Holdings Ltd.  The rating
was removed from CreditWatch with negative implications, where
it had been placed on July 4, 2007.  The outlook is negative.

At the same time, the second-lien secured debt rating on the
GBP100 million mezzanine notes issued by finance subsidiary
Heating Finance PLC and guaranteed by Baxi and other
subsidiaries was affirmed at 'CCC+' and removed from CreditWatch
with negative implications.  The recovery rating on the notes is
'6', indicating S&P's expectation of negligible (0%-10%)
recovery in the event of a payment default.

The rating action follows senior lenders' consent to facility
amendments proposed by the company and reflects S&P's
expectation that the amendments to Baxi's senior facilities and
proposed investment will be completed before the end of October
2007.

On Sept. 19, 2007, Baxi's principal shareholders funds advised
by BC Partners and Electra Partners -- agreed to invest œ40
million of new equity and unsecured loan notes in the company.

"We expect the funding to be used to address operational
difficulties in certain businesses, by financing restructuring
plans that began in 2006 and are now to be intensified, in an
attempt to partially mitigate the effect of margin pressures
over the longer term," said S&P's credit analyst Louise Newey.

S&P expects that Baxi's financial risk profile will remain under
pressure against a background of harsh trading conditions for
the rest of 2007 and into 2008.

"Although Baxi is undertaking measures to reduce costs, we
expect credit protection ratios to stay highly leveraged, making
the group vulnerable to adverse developments in its key
markets," Ms. Newey added.  "There remains a risk that the
planned restructuring fails to address operational failures, and
that the market environment weakens further, resulting in
sustained pressure on the financial profile."

A downgrade could result if the debt-to-EBITDA ratio rises above
5.0; if there is a reversion to negative free operating cash
flow generation; or if Baxi's business prospects deteriorate
further.

Rating upside remains unlikely over the medium term, and would
require improvement in cash generation and debt reduction, with
adjusted FFO to debt sustained at about 15% and debt to EBITDA
at, or less than, 4.0.

Baxi Group is a major European heating group supplying a full
range of space and water heating products for both residential
and commercial applications.  The Group is market leader in the
UK and has established positions of excellence in France,
Germany, Italy, Spain and Denmark.  Baxi International manages
the Group's international sales, marketing and after-sales
activities in over 50 countries including Argentina.


BRAVO BARROS: Proofs of Claim Verification Ends on Nov. 7
---------------------------------------------------------
Jorge Basile, the court-appointed trustee for Bravo Barros y Cia
S.A.'s bankruptcy proceeding, verifies creditors' proofs of
claim until Nov. 7, 2007.

Mr. Basile will present the validated claims in court as
individual reports on Dec. 19, 2007.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Bravo Barros and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Bravo Barros'
accounting and banking records will be submitted in court on
March 6, 2008.

Mr. Basile is also in charge of administering Bravo Barros'
assets under court supervision and will take part in their
disposal to the extent established by law.

The trustee can be reached at:

       Jorge Basile
       J.E. Uriburu 782
       Buenos Aires, Argentina


COMPANIA LATINOAMERICANA: S&P Puts BB+ Rtgs. on US$115-Mln Notes
----------------------------------------------------------------
The Argentine arm of Standard & Poor's Rating Services assigned
these ratings to Compania Latinoamericana de Infraestructura y
Servicios aka CLISA's bond issues:

  -- Obligaciones Negociables for US$15 million, BB+ (arg)
  -- Obligaciones Negociables with guarantee for US$100 million,
     BB+ (arg).

Compania Latinoamericana de Infraestructura & Servicios S.A. aka
CLISA is a holding company mainly devoted to construction, mass
transportation and toll roads, and also participates in waste
management.


CONSTRUCCIONES RIAZOR: Trustee Filing General Report Tomorrow
-------------------------------------------------------------
Beatriz Dominguez, the court-appointed trustee for
Construcciones Riazor S.A.'s bankruptcy proceeding, will present
a general report containing an audit of the firm's accounting
and banking records in the National Commercial Court of First
Instance in Buenos Aires on Oct. 19, 2007.

Ms. Dominguez verified creditors' proofs of claim until
July 5, 2007.  She submitted the validated claims as individual
reports in court on Sept. 7, 2007.

Ms. Dominguez is also in charge of administering Construcciones
Riazor's assets under court supervision and will take part in
their disposal to the extent established by law.

The trustee can be reached at:

          Beatriz Dominguez
          Avenida Rivadavia 2151
          Buenos Aires, Argentina


D AMARIO: Trustee Filing Individual Reports in Court Tomorrow
-------------------------------------------------------------
Eduardo Betorz, the court-appointed trustee for D Amario
Hermanos S.A.'s reorganization proceeding, will present the
validated claims as individual reports the National Commercial
Court of First Instance in La Carlota, Cordoba, on
Oct. 19, 2007.

Mr. Betorz verified creditors' proofs of claim until
Sept. 5, 2007.

The debtor can be reached at:

       D Amario Hermanos S.A.
       Cordoba 856, Alejo Ledesma
       Cordoba, Argentina

The trustee can be reached at:

       Eduardo Betorz
       Dean Funes 546, La Carlota
       Cordoba, Argentina


DELTA AIR: S&P Affirms B Rating; Revises Outlook to Positive
------------------------------------------------------------
Standard & Poor's Ratings Services has affirmed its ratings on
Delta Air Lines Inc. (B/Positive/--) and revised the rating
outlook to positive from stable.  The outlook revision is based
on continued strong earnings, cash flow generation, and debt
reduction.

Despite high fuel prices, Delta reported third-quarter pretax
income of US$363 million, far better than a pretax loss before
reorganization items of US$69 million in the like period of
2006.  Net income was US$220 million, but the tax provision is
noncash, as Delta is able to apply net operating loss
carryforwards to offset taxable income.  Delta management
foresees generating earnings consistent with its reorganization
plan forecast, and achieving US$1.4 billion of free cash flow,
higher than that anticipated in the forecast.  "We consider that
high fuel prices and potentially softening demand as a result of
the weak economy may make these targets challenging, but that
full-year 2007 earnings should still be overall strong and close
to forecast levels," said S&P's credit analyst Philip Baggaley.
S&P expects EBITDA interest coverage of 2.0\u20132.5 and funds
flow to debt in the low-teens percent area in 2007 and 2008.

The 'B' corporate credit rating on Delta reflects risks
associated with participation in the price-competitive,
cyclical, and capital-intensive airline industry; on its below-
average, albeit improving, revenue generation; and on its
significant intermediate-term debt and capital spending
commitments.  The rating also incorporates the reduced debt load
and operating costs achieved in Chapter 11, and a trend of
rapidly improving earnings and cash flow.  Delta, the third-
largest U.S. airline, emerged from bankruptcy protection
April 30, 2007.

Delta's new CEO, Richard Anderson, has indicated that the
company, which repelled a hostile takeover bid from USAirways
Group Inc. early this year, is studying implications of expected
airline industry consolidation for Delta.  He implies that Delta
could be interested in a merger, but only as a buyer, rather
than a target company.  Although a more consolidated airline
industry would likely benefit from better pricing and more
disciplined capacity management, the costs of acquiring and
integrating another airline carries considerable risk for the
buyer.

Continued progress on improving Delta's financial profile could
justify an upgrade over the next 12 to 18 months. Alternatively,
if industry conditions deteriorate significantly, most likely
because of a combination of high fuel prices and weaker demand,
S&P could revise the outlook back to stable.  If Delta were to
announce a proposed merger with another major U.S. airline, S&P
would place the ratings on CreditWatch, most likely with
negative implications.

Based in Atlanta, Georgia, Delta Air Lines Inc. (NYSE:DAL) --
http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier
across the Atlantic, offering daily flights to 328 destinations
in 56 countries on Delta, Song, Delta Shuttle, the Delta
Connection carriers and its worldwide partners.  Delta flies to
Argentina, Australia and the United Kingdom, among others.  The
company and 18 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents
the Debtors in their restructuring efforts.  Timothy R. Coleman
at The Blackstone Group L.P. provides the Debtors with financial
advice.  Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at
Akin Gump Strauss Hauer & Feld LLP, provide the Official
Committee of Unsecured Creditors with legal advice.  John
McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James
S. Feltman at Mesirow Financial Consulting, LLC, serve as the
Committee's financial advisors.  As of June 30, 2005, the
company's balance sheet showed US$21.5 billion in assets and
US$28.5 billion in liabilities.

The Debtors filed a chapter 11 plan of reorganization and
disclosure statement explaining that plan on Dec. 19, 2007.  On
Jan. 19, 2007, they filed revisions to the plan and disclosure
statement, and submitted further revisions to the plan on
Feb. 2, 2007.  On Feb. 7, 2007, the Court approved the Debtors'
disclosure statement.  In April 2007, the Court confirmed the
Debtors' plan.


DISTRIYER SRL: Trustee Filing General Report in Court Tomorrow
--------------------------------------------------------------
Leticia Andrea Matej, the court-appointed trustee for Distriyer
S.R.L.'s bankruptcy proceeding, will submit a general report
containing an audit of the firm's accounting and banking records
in the National Commercial Court of First Instance in Buenos
Aires on Oct. 19, 2007.

Ms. Matej verified creditors' proofs of claim until
July 13, 2007.  She presented the validated claims in court as
individual reports on Sept. 7, 2007.

Ms. Matej is also in charge of administering Distriyer's assets
under court supervision and will take part in their disposal to
the extent established by law.

The debtor can be reached at:

          Distriyer S.R.L.
          Peru 689
          Buenos Aires, Argentina

The trustee can be reached at:

          Leticia Andrea Matej
          Tucuman 1567
          Buenos Aires, Argentina


FASHION SA: Creditors Voting on Settlement Plan Tomorrow
--------------------------------------------------------
Fashion SA's creditors will vote on a settlement plan that the
company will lay on the table on Oct. 19, 2007.

Marcela Alejandra Zamora, the court-appointed trustee for
Fashion's reorganization proceeding, verified creditors' proofs
of claim until Dec. 11, 2006.  She presented the validated
claims in court as individual reports on Apr. 3, 2007, and filed
a general report containing an audit of Fashion's accounting and
banking records on July 4, 2007.

The trustee can be reached at:

          Marcela Alejandra Zamorav
          Rioja 80 Ciudad de Mendoza
          Mendoza, Argentina


FILTERS SRL: Proofs of Claim Verification Deadline Is Dec. 3
------------------------------------------------------------
Armando Gutman, the court-appointed trustee for Filters S.R.L.'s
bankruptcy proceeding, verifies creditors' proofs of claim until
Dec. 3, 2007.

Mr. Gutman will present the validated claims in court as
individual reports on Feb. 20, 2007.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Filters and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Filters' accounting
and banking records will be submitted in court on April 3, 2007.

Mr. Gutman is also in charge of administering Filters' assets
under court supervision and will take part in their disposal to
the extent established by law.

The trustee can be reached at:

       Armando Gutman
       Esmeralda 625
       Buenos Aires, Argentina


PERSONAL DE YPF: Trustee Filing General Report in Court Tomorrow
----------------------------------------------------------------
Hector Jorge Vegetti, the court-appointed trustee for
Cooperativa para el Personal de YPF General Mosconi de Vivienda,
Urbanismo, Consumo, Credito, Turismo y Servicios Sociales
Limitada (V.U.C.C.T.S.S.)'s bankruptcy proceeding, will submit a
general report containing an audit of the company's accounting
and banking records in the National Commercial Court of First
Instance in Buenos Aires on Oct. 19, 2007.

Mr. Vegetti verified creditors' proofs of claim until
July 11, 2007.  He presented the validated claims in court as
individual reports on Sept. 17, 2007.

Mr. Vegetti is also in charge of administering Personal de YPF's
assets under court supervision and will take part in their
disposal to the extent established by law.

The debtor can be reached at:

          Cooperativa para el Personal de YPF General Mosconi
          de Vivienda, Urbanismo, Consumo, Credito, Turismo y
          Servicios Sociales Limitada
          Avenida Pedro Medrano 46
          Buenos Aires, Argentina

The trustee can be reached at:

          Hector Jorge Vegetti
          Montevideo 711
          Buenos Aires, Argentina


SALUD OCUPACIONAL: Proofs of Claim Verification Is Until Oct. 26
----------------------------------------------------------------
Oscar Luis Olguin, the court-appointed trustee for Salud
Ocupacional Sur S.R.L.'s reorganization proceeding, verifies
creditors' proofs of claim until Oct. 26, 2007.

Mr. Olguin will present the validated claims in court as
individual reports on Dec. 10, 2007.  The National Commercial
Court of First Instance in Quilmes, Buenos Aires, will determine
if the verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Salud Ocupacional and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Salud Ocupacional's
accounting and banking records will be submitted in court on
Feb. 22, 2008.

The informative assembly will be held on April 23, 2008.
Creditors will vote to ratify the completed settlement plan
during the assembly.

The debtor can be reached at:

       Salud Ocupacional Sur S.R.L.
       Avenida San Martin 596, Bernal
       Partido de Quilmes, Buenos Aires
       Argentina

The trustee can be reached at:

       Oscar Luis Olguin
       Moreno 525, Quilmes
       Buenos Aires, Argentina


SERVIPACK SA: Proofs of Claim Verification Deadline Is Dec. 7
-------------------------------------------------------------
Graciela Maria Caccavallo, the court-appointed trustee for
Servipack S.A.'s bankruptcy proceeding, verifies creditors'
proofs of claim until Dec. 7, 2007.

Ms. Caccavallo will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance in Buenos Aires will determine if the verified claims
are admissible, taking into account the trustee's opinion, and
the objections and challenges that will be raised by Servipack
and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Servipack's
accounting and banking records will be submitted in court.

Infobae didn't state the reports submission deadlines.

Ms. Caccavallo is also in charge of administering Servipack's
assets under court supervision and will take part in their
disposal to the extent established by law.

The trustee can be reached at:

       Graciela Maria Caccavallo
       Estados Unidos 2252
       Buenos Aires, Argentina


SOLICITAS SRL: Proofs of Claim Verification Is Until Nov. 22
------------------------------------------------------------
Adriana Beatriz Benzer, the court-appointed trustee for
Solicitas S.R.L.'s bankruptcy proceeding, verifies creditors'
proofs of claim until Nov. 22, 2007.

Ms. Benzer will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance in Buenos Aires will determine if the verified claims
are admissible, taking into account the trustee's opinion, and
the objections and challenges that will be raised by Solicitas
and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Solicitas' accounting
and banking records will be submitted in court.

Infobae didn't state the reports submission deadlines.

Ms. Benzer is also in charge of administering Solicitas' assets
under court supervision and will take part in their disposal to
the extent established by law.

The trustee can be reached at:

       Adriana Beatriz Benzer
       Suipacha 576
       Buenos Aires, Argentina


TARAI SA: Trustee Filing General Report in Court Tomorrow
---------------------------------------------------------
Ana Maria Lopez, the court-appointed trustee for Tarai S.A.'s
bankruptcy proceeding, will submit a general report containing
an audit of the firm's accounting and banking records in the
National Commercial Court of First Instance in Buenos Aires on
Oct. 19, 2007.

Ms. Lopez verified creditors' proofs of claim until
July 10, 2007.  She presented the validated claims in court as
individual reports on Sept. 6, 2007.

Ms. Lopez is also in charge of administering Tarai's assets
under court supervision and will take part in their disposal to
the extent established by law.

The trustee can be reached at:

          Ana Maria Lopez
          San Martin 662
          Buenos Aires, Argentina


TELECOM ARGENTINA: Gov't Forms Panel To Check Telefonica Deal
-------------------------------------------------------------
The Argentine government said in a statement that it has created
a two-person board at Telecom Argentina to check whether Spanish
firm Telefonica's purchase of a stake in Telecom Italia affects
competition.

Business News Americas relates that the board comprises:

          -- one representative of the antitrust agency Comision
             Nacional de Defensa de la Competencia, and

         -- one representative from the telecoms regulator
            Comision Nacional de Comunicaciones.

After two months the two representatives will present a report
about Telefonica's interaction with Telecom Argentina,
BNamericas notes.

According to BNamericas, the government expects the board to
analyze documents and information regarding Telefonica's role in
Telecom Italia, to defend public interest in the Argentine
telecommunications market.

The regulator is carrying out preliminary investigations of the
possible impact of the Telecom Italia-Telefonica deal in the
local market, BNamericas states.

                     About Telefonica

Telefonica, S.A., together with its subsidiaries and investees
(Telefonica Group), operates mainly in the telecommunications,
media and entertainment industries.  The Telefonica Group is
also involved in the media and contact center activities through
investments in Telefonica de Contenidos and Atento.  The company
operates through three segments: Telefonica Spain, Telefonica
Europe and Telefonica Latin America.  Telefonica Spain oversees
the wireline and wireless telephony, broadband and data
businesses in Spain.  Telefonica Latin America oversees the same
businesses in Latin America.  Telefonica Europe oversees the
wireline, wireless, broadband and data businesses in the United
Kingdom, Germany, the Isle of Man, Ireland, the Czech Republic
and the Slovak Republic.

                   About Telecom Argentina

Headquartered in Buenos Aires, Telecom Argentina S.A. --
http://www.telecom.com.ar/index-flash.html-- is the fixed-line
operator for local and long-distance services in northern and
southern Argentina.  It also provides cellular and PCS phone
services in Argentina, as well as in Paraguay through a 68%
stake in Nocleo.  France Telecom formerly controlled the company
through its Nortel Inversora venture with Telecom Italia.
France Telecom sold most of its stake in 2003 to the Werthein
Group, an Argentine agricultural concern owned in part by vice
chairman Gerardo Werthein.  Nortel continues to be Telecom
Argentina's largest shareholder with a 55% stake.  Nortel is
owned by Sofora, a consortium owned by Telecom Italia (50%), the
Werthein Group (48%), and France Telecom (2%).

                        *     *     *

As reported on Oct 11, 2006, Standard & Poor's Ratings Services
raised Telecom Argentina S.A.'s counterparty credit rating to
B+/Stable/ from B/Stable following the upgrade of the Republic
of Argentina to 'B+' from 'B'.


TELEFONICA DE ARGENTINA: Gov't Forms Board To Check Italia Buy
--------------------------------------------------------------
The Argentine government said in a statement that it has created
a two-person board at Telecom Argentina to check whether
Telefonica's purchase of a stake in Telecom Italia affects
competition.  Telefonica is the parent firm of Telefonica de
Argentina.

Business News Americas relates that the board comprises:

          -- one representative of the antitrust agency Comision
             Nacional de Defensa de la Competencia, and

         -- one representative from the telecoms regulator
            Comision Nacional de Comunicaciones.

After two months the two representatives will present a report
about Telefonica's interaction with Telecom Argentina,
BNamericas notes.

According to BNamericas, the government expects the board to
analyze documents and information regarding Telefonica's role in
Telecom Italia, to defend public interest in the Argentine
telecommunications market.

The regulator is carrying out preliminary investigations of the
possible impact of the Telecom Italia-Telefonica deal in the
local market, BNamericas states.

                  About Telecom Argentina

Headquartered in Buenos Aires, Telecom Argentina S.A. --
http://www.telecom.com.ar/index-flash.html-- is the fixed-line
operator for local and long-distance services in northern and
southern Argentina.  It also provides cellular and PCS phone
services in Argentina, as well as in Paraguay through a 68%
stake in Nocleo.  France Telecom formerly controlled the company
through its Nortel Inversora venture with Telecom Italia.
France Telecom sold most of its stake in 2003 to the Werthein
Group, an Argentine agricultural concern owned in part by vice
chairman Gerardo Werthein.  Nortel continues to be Telecom
Argentina's largest shareholder with a 55% stake.  Nortel is
owned by Sofora, a consortium owned by Telecom Italia (50%), the
Werthein Group (48%), and France Telecom (2%).

                     About Telefonica

Telefonica, S.A., together with its subsidiaries and investees
(Telefonica Group), operates mainly in the telecommunications,
media and entertainment industries.  The Telefonica Group is
also involved in the media and contact center activities through
investments in Telefonica de Contenidos and Atento.  The company
operates through three segments: Telefonica Spain, Telefonica
Europe and Telefonica Latin America.  Telefonica Spain oversees
the wireline and wireless telephony, broadband and data
businesses in Spain.  Telefonica Latin America oversees the same
businesses in Latin America.  Telefonica Europe oversees the
wireline, wireless, broadband and data businesses in the United
Kingdom, Germany, the Isle of Man, Ireland, the Czech Republic
and the Slovak Republic.

               About Telefonica de Argentina

Headquartered in Buenos Aires, Argentina, Telefonica de
Argentina SA -- http://www.telefonica.com.ar/-- provides
telecommunication services, which include telephony business
both in Spain and Latin America, mobile communications
businesses, directories and guides businesses, Internet, data
and corporate services, audiovisual production and broadcasting,
broadband and Business-to-Business e-commerce activities.

                        *     *     *

As reported in the Troubled Company Reporter on Jan. 22, 2007,
Moody's Latin America changed the rating outlook to positive
from stable for Telefonica de Argentina's foreign currency
rating of B2 and for the Aa3.ar (national scale rating).  The
rating action was taken in conjunction with Moody's outlook
change to positive from stable for Argentina's B2 foreign
currency ceiling for bonds and notes on Jan. 16, 2007.
Telefonica de Argentina's foreign currency rating continues to
be constrained by Argentina's B2 ceiling.


TERCER MILENIO: Proofs of Claim Verification Deadline Is Feb. 4
---------------------------------------------------------------
Ana Maria Pazos, the court-appointed trustee for Tercer Milenio
Producciones S.A.'s bankruptcy proceeding, verifies creditors'
proofs of claim until Feb. 4, 2008.

Ms. Pazos will present the validated claims in court as
individual reports on March 17, 2008.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Tercer Milenio and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Tercer Milenio's
accounting and banking records will be submitted in court on
April 28, 2008.

Ms. Pazos is also in charge of administering Tercer Milenio's
assets under court supervision and will take part in their
disposal to the extent established by law.

The trustee can be reached at:

       Ana Maria Pazos
       Maipu 374
       Buenos Aires, Argentina




=============
B E R M U D A
=============


KOCH TREASURY: Proofs of Claim Filing Ends on Nov. 9
----------------------------------------------------
Koch Treasury Investments, Ltd.'s creditors are given until
Nov. 9, 2007, to prove their claims to Kehinde A. L. George, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Koch Treasury's shareholder agreed on Sept. 26, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

         Kehinde A. L. George
         Attride-Stirling & Woloniecki
         Crawford House, 50 Cedar Avenue
         Hamilton HM 11, Bermuda


LANNER RE: Proofs of Claim Filing Deadline Is Oct. 19
-----------------------------------------------------
Lanner Re Limited's creditors are given until Oct. 19, 2007, to
prove their claims to Robin J. Mayor, the company's liquidator,
or be excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Lanner Re's shareholders agreed on Oct. 5, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

         Robin J. Mayor
         Messrs. Conyers Dill & Pearman
         Clarendon House, 2 Church Street
         Hamilton, HM 11, Bermuda


ODYSSEY TRADING: Proofs of Claim Filing Deadline Is Oct. 24
-----------------------------------------------------------
Odyssey Trading Company Limited's creditors are given until
Oct. 24, 2007, to prove their claims to Robin J. Mayor, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Odyssey Trading's shareholder agreed on Oct. 8, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

         Robin J. Mayor
         Messrs. Conyers Dill & Pearman
         Clarendon House, Church Street
         Hamilton, HM DX, Bermuda


ROYALE RESORTS: Proofs of Claim Filing Is Until Oct. 24
-------------------------------------------------------
Royale Resorts International Limited's creditors are given until
Oct. 24, 2007, to prove their claims to Robin J. Mayor, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Royale Resorts' shareholder agreed on Oct. 8, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

         Robin J. Mayor
         Messrs. Conyers Dill & Pearman
         Clarendon House, Church Street
         Hamilton, HM DX, Bermuda




=============
B O L I V I A
=============


INT'L PAPER: Gives US$1 Million to Support Zero Waste Campaign
---------------------------------------------------------------
International Paper, the National Park Foundation and the
National Recycling Coalition has announced a new pilot program
to evaluate ways to limit the impact of foodservice products in
America's national parks.  The study, funded in part by a
donation of up to US$1 million by International Paper, will
commence in the summer of 2008 and is aimed at moving toward
"Zero Waste" across the park system by identifying best
practices in foodservice waste reduction that can be transferred
to national parks throughout the country.

"At International Paper, we have already celebrated our first
centennial of environmental stewardship, and now we're looking
forward to helping the National Park System celebrate theirs,"
said John Faraci, International Paper's chairman and chief
executive officer and National Park Foundation board member.
"It's an exciting opportunity, but one where each of us must be
prepared, right now, to provide strong support for the
challenges the park system will face going forward."

Through an agreement with the National Park Foundation,
International Paper will produce a customized cup for use by
parks, concessionaires and others.  The cup, International
Paper's fully compostable, recyclable ecotainer(TM), will
display printed messages that will raise awareness about the
National Park Centennial in 2016 and educate the public about
conservation and environmental stewardship.

International Paper will donate a penny for each commemorative
cup sold, up to US$1 million, back to the National Park
Foundation to help fund a joint effort between International
Paper, the National Park Foundation and the National Recycling
Coalition to evaluate foodservice waste management practices and
educate employees, concessionaires and visitors about ways to
reduce waste in the parks.

"Becoming a zero-waste society means we each have a role to
play, from the thoughtful design of a package to simple systems
that take the package back to its basic element," said Kate
Krebs, executive director of the National Recycling Coalition.
"What better place to demonstrate Zero Waste than our national
parks, where packaging can become a rich compost that can
nurture the flora and fauna of our parks."

Vin Cipolla, president and CEO of the National Park Foundation,
said the project demonstrates that corporations can contribute
not only charitable resources, but also the know-how and
technology to make things happen.  "The national parks have
always been about partnerships - people with a common passion
coming together for a larger good.  Innovative partnerships like
this one that can leverage the National Recycling Coalition and
International Paper are essential for securing the next century
of stewardship for our national parks," Mr. Cipolla said.

             About the National Park Foundation

The National Park Foundation -- http://www.nationalparks.org
-- is a 501(c)(3) organization chartered by Congress in 1967 to
continue a century-long tradition of private philanthropy
ensuring funding to preserve and enhance the legacy of our
National Parks.  As the official non-profit partner of America's
National Parks, the National Park Foundation does not receive
federal appropriations for their support.  The National Park
Foundation serves to strengthen the connection between the
American people and their national parks by raising private
funds, making strategic grants, creating innovative partnerships
and increasing public awareness.  Support of the National Park
Foundation ensures that the evolving history and rich heritage
of our Nation remains vital and relevant.

          About the National Recycling Coalition

The NRC -- http://www.nrc-recycle.org/-- is a national, non-
profit advocacy group with members that span all aspects of
waste reduction, reuse and recycling in North America.  NRC's
objective is to eliminate waste and promote sustainable
economies though advancing sound management practices for raw
materials in North America.  NRC works with its members and
partners to sponsor programs and stakeholder forums that provide
tools and nurture solutions for the recycling industry.
Breaking new ground in how Americans think about waste, the
Coalition is a strong and clear voice for recycling.

                  About International Paper

Based in Stamford, Connecticut, International Paper Co. (NYSE:
IP) -- http://www.internationalpaper.com/-- is in the forest
products industry for more than 100 years.  The company is
currently transforming its operations to focus on its global
uncoated papers and packaging businesses, which operate and
serve customers in the U.S., Europe, South America and Asia.
Its South American operations include, among others, facilities
in Argentina, Brazil, Bolivia, and Venezuela.  These businesses
are complemented by an extensive North American merchant
distribution system.  International Paper is committed to
environmental, economic and social sustainability, and has a
long-standing policy of using no wood from endangered forests.

                        *     *     *

International Paper Co. carries Moody's Investors Service's Ba1
senior subordinate rating and Ba2 Preferred Stock rating.

In December 2005, Moody's Investors Service placed International
Paper Co.'s senior subordinate rating at 'Ba1'.  The rating
still holds to date with a stable outlook.




===========
B R A Z I L
===========


ARROW ELECTRONICS: Earns US$99.2 Million in Qtr. Ended June 30
--------------------------------------------------------------
Arrow Electronics Inc. reported second quarter 2007 net income
of US$99.2 million on sales of US$4.04 billion, compared with
net income of US$92.8 million on sales of US$3.44 billion in the
second quarter of 2006.  Sales increased 17% year over year.

Excluding certain items impacting the comparability of the
second quarters of 2007 and 2006, on a non-GAAP basis, net
income for the quarter ended June 30, 2007, would have been
US$101.5 million and net income for the quarter ended
June 30, 2006, would have been US$94.7 million.

"We continue to execute well on our strategic initiatives as
evidenced by our record results.  We achieved record sales,
generated an impressive level of cash flow, and managed our
asset base to a record low level of working capital to sales,"
said William E. Mitchell, chairman, president and chief
executive officer.  "We have made strong strategic moves over
the last 18 months that have resulted in a more diverse revenue
stream, a broader geographic footprint, and increased
opportunities in fast-growing product segments."

Global enterprise computing solutions sales of US$1.27 billion
increased 78% sequentially and 103% year over year on strong
growth in industry standard servers, storage, software,
and services.  Growth was aided by the impact of the
acquisitions of KeyLink Systems Group, Alternative Technology
Inc. and the storage and security distribution business of
InTechnology plc.

"Our strategic transformation in global ECS is producing
impressive results as we grew sales at almost four times the
rate at which the market is expected to grow.  Global ECS now
represents approximately one-third of our business, further
diversifying and reducing the volatility of our revenue stream.
By further executing on significant cross-selling opportunities,
pursuing our strategic focus on the mid-market and leveraging
our unique software capabilities, we expect to continue to
outgrow the market.  With increased scale, scope and
flexibility, our strategy is proving out every day with our
customers and vendors," said Mr. Mitchell.

Global components sales of US$2.77 billion were essentially flat
with the first quarter on fewer shipping days.  Sales decreased
2% year over year as the well-publicized weakness within the
large EMS customer base continued in North America and Asia
Pacific.

The company's results for the second quarter of 2007 and 2006
include the items outlined below that impact their
comparability:

  -- during the second quarter of 2007, the company recorded a
     net restructuring charge of US$2.9 million, primarily
     related to initiatives taken by the company in the period
     to improve operating efficiencies.

  -- during the second quarter of 2007, the company recorded an
     integration charge of US$500,000, primarily related to the
     acquisition of KeyLink.

  -- during the second quarter of 2006, the company recorded a
     US$3.1 million restructuring charge.

Arrow's net income for the first six months of 2007 was
US$195.5 million on sales of US$7.54 billion, compared with net
income of US$174.3 million on sales of US$6.63 billion in the
first six months of 2006.

At June 30, 2007, the company's consolidated balance sheet
showed US$7.38 billion in total assets, US$4.13 billion in total
liabilities, and US$3.25 billion in total shareholders' equity.

Full-text copies of the company's consolidated financial
statements for the quarter ended June 30, 2007, are available
for free at http://researcharchives.com/t/s?244b

                   About Arrow Electronics

Headquartered in Melville, New York, Arrow Electronics Inc.
-- http://www.arrow.com/-- provides products, services and
solutions to industrial and commercial users of electronic
components and computer products.   Arrow serves as a supply
channel partner for nearly 600 suppliers and more than 130,000
original equipment manufacturers, contract manufacturers and
commercial customers through a global network of over 270
locations in 53 countries and territories.

The company operates in France, Spain, Portugal, Denmark,
Estonia, Finland, Ireland, Latvia, Lithuania, Norway, Sweden,
Italy, Germany, Austria, Switzerland, Belgium, the Netherlands,
United Kingdom, Argentina, Brazil, Mexico, Australia, China,
Hong Kong, Korea, Philippines and Singapore.

                        *     *     *

Arrow Electronics senior subordinated stock continues to carry
Moody's Investors Service's Ba1 rating.  The company's senior
preferred stock is rated at Ba2.


ARVINMERITOR INC: Inks Joint Venture Pact with TRW Automotive
-------------------------------------------------------------
TRW Automotive Aftermarket, a business of TRW Automotive
Holdings Corp., entered into an agreement to create a Joint
Venture with ArvinMeritor Inc. to distribute Gabriel and TRW
branded shock absorber ranges for the European independent
aftermarket.  The intention is for the Joint Venture to begin
operation and distribution in January 2008.

"Shock absorbers are an integral element of our core chassis
portfolio," Francois Augnet, vice president for TRW Automotive
Aftermarket Europe and Asia Pacific, said.  "We already offer a
comprehensive TRW branded range to our European customers and
are committed to enhancing it with the Gabriel programme to
maintain and develop our leading chassis position in the
European aftermarket."

"By combining the strengths of ArvinMeritor's engineering and
manufacturing competencies and the Gabriel brand name with
TRW's extensive sales and distribution network we are confident
that we can roll out successful shock absorber programmes for
the European independent aftermarket," Mr. Augnet continued.

With the recent sale of its European exhaust aftermarket
business, ArvinMeritor has sharpened its focus on original
equipment manufacturer systems engineering.  This includes a
renewed emphasis on its global ride control business.

With the Joint Venture, TRW and ArvinMeritor will jointly
control the future marketing, sales and distribution of the
Gabriel and TRW aftermarket programmes throughout Western,
Central and Eastern Europe.

"This is a great example of how both partners can share in the
investment, as well as reap the benefits," Marlen Silverii,
general manager for ArvinMeritor's global ride control
aftermarket business added.  "The Gabriel aftermarket product
line is technically very strong, and when partnered with TRW's
growing aftermarket presence, it will offer our aftermarket
customers a strong chassis alternative."

                    About TRW Automotive

Headquartered in Livonia, Michigan, TRW Automotive Holdings
Corp. (NYSE: TRW) -- http://www.trwauto.com/-- is an automotive
supplier.  Through its subsidiaries, it employs approximately
63,800 people in 26 countries.  TRW Automotive products include
integrated vehicle control and driver assist systems, braking
systems, steering systems, suspension systems, occupant safety
systems (seat belts and airbags), electronics, engine
components, fastening systems and aftermarket replacement parts
and services

TRW Automotive Aftermarket provides high quality replacement
parts, service, diagnostics and technical support to both the
independent aftermarket and the vehicle manufacturer service
channels.

                     About Arvinmeritor

Headquartered in Troy, Michigan, ArvinMeritor, Inc. (NYSE: ARM)
-- http://www.arvinmeritor.com/-- supplies integrated systems,
modules and components to the motor vehicle industry.  The
company serves light vehicle, commercial truck, trailer and
specialty original equipment manufacturers and certain
aftermarkets.  ArvinMeritor employs about 29,000 people at more
than 120 manufacturing facilities in 25 countries.  These
countries are: China, India, Japan, Singapore, Thailand,
Australia, Venezuela, Brazil, Argentina, Belgium, Czech
Republic, France, Germany, Hungary, Italy, Netherlands, Spain,
Sweden, Switzerland, United Kingdom, among others.

                        *     *     *

As reported in the Troubled Company Reporter on Oct. 9, 2007,
Fitch Ratings downgraded its ratings on ArvinMeritor Inc.
including Issuer Default Rating to 'BB-' from 'BB'; Senior
secured revolver to 'BB' from 'BB+'; and Senior unsecured notes
to 'B+' from 'BB-'.  Fitch said the rating outlook is negative.

Standard & Poor's Ratings Services lowered its corporate credit
rating and related ratings on ArvinMeritor Inc. to 'B+' from
'BB-'.  S&P said the outlook is negative.

Moody's Investors Service downgraded ArvinMeritor's Corporate
Family Rating to B1 from Ba3 and maintained the outlook at
stable.  Moody's also lowered its ratings on the company's
secured bank obligations (to Ba1, LGD-1, 8% from Baa3, LGD-2,
13%) and unsecured notes (to B2, LGD-4, 63% from B1, LGD-4,
63%).  The Probability of Default is changed to B1 from Ba3,
while the company's Speculative Grade Liquidity rating remains
SGL-2.  Moody's said the outlook is stable.


BRASIL TELECOM: Extends Use of Oracle Communications Services
-------------------------------------------------------------
Brasil Telecom has extended its use of Oracle Communications
Order and Service Management, Oracle Communications Inventory
Management and Oracle Communications Service Activation to help
accelerate service delivery for wireless pre- and post-paid
voice and fixed-line data subscribers, Cellular-News reports,
citing Oracle Communications.

Cellular-News relates that Oracle Communications Order and
Oracle Communications Inventory are part of the Oracle Service
Fulfillment Suit.

According to Cellular-News, Brasil Telecom would lessen capital
and operating expenses, boost client service and accelerate time
to market for new services by consolidating "multiple
provisioning systems onto a single, unified operational support
system that integrates order management, inventory management
and service activation."

Brasil Telecom's Information Technology Manager Sergio Costa
commented to Cellular-News, "In order to continue to meet the
demand for next-generation mobile and IP [Internet protocol]
services, we needed to streamline our provisioning processes to
ensure rapid time to revenue and a seamless customer experience.
Our extension of Oracle will allow us to automate the entire
provisioning process, reduce order fallout and maintain an
accurate view of our network and service inventory.  This, in
turn, will enable us to increase capacity to process orders and
reduce our capital expenditures as we transform our network to
IP."

Headquartered in Brasilia, Brazil, Brasil Telecom Participacoes
SA -- http://www.brasiltelecom.com.br-- is a holding company
that conducts substantially all of its operations through its
wholly owned subsidiary, Brasil Telecom SA.  The fixed-line
telecommunications services offered to the company's customers
include local services, including all calls that originate and
terminate within a single local area in the region, as well as
installation, monthly subscription, measured services, public
telephones and supplemental local services; intra-regional
long-distance services, which include intrastate and interstate
calls; interregional and international long-distance services;
network services, including interconnection and leasing; data
transmission services; wireless services, and other services.

                        *     *     *

To date, Brasil Telecom carries Moody's Investors Service's Ba1
senior unsecured and credit default swap ratings.


EL PASO: Units Receive Requisite Consents on Notes Offerings
------------------------------------------------------------
Southern Natural Gas Company and Colorado Interstate Gas
Company, subsidiaries of El Paso Corporation, have received the
requisite consents with respect to their consent solicitations
from holders of the notes, to the adoption of certain proposed
amendments to the indentures governing the notes.

SNG's consent solicitation related to its:

   -- 6.125% Notes due Sept. 15, 2008;
   -- 5.90% Notes due April 1, 2017;
   -- 7.35% Notes due Feb. 15, 2031; and
   -- 8% Notes due March 1, 2032.

CIG's consent solicitation related to its:

   -- 5.95% Senior Notes due March 15, 2015;
   -- 6.80% Senior Notes due Nov. 15, 2015; and
   -- 6.85% Senior Notes due June 15, 2037.

The consent solicitations expired at 5:00 p.m., New York City
time, on Oct. 11, 2007.  As of the Expiration Date, SNG had
received consents of holders of a majority in aggregate
principal amount of each series of the SNG Notes and CIG had
received consents of holders of a majority in aggregate
principal amount of the CIG Notes of all series, considered
together as a single class, representing, in each case, a
percentage sufficient to amend the indentures.

SNG or CIG, will pay each holder of Notes who delivered a valid
consent prior to the Expiration Date a cash consent fee of
US$2.50 for each US$1,000 in principal amount of Notes in
respect of which such consent was delivered.

The amendments to the indentures governing the Notes will become
effective upon execution of the supplemental indentures
incorporating the amendments, which is expected to occur
promptly.

Merrill Lynch & Co. and JPMorgan acted as Solicitation Agents
for the consent solicitations.  Global Bondholder Services
Corporation acted as the Information Agent and Tabulation Agent.

                  About El Paso Corporation

Headquartered in Houston, Texas, El Paso Corporation (NYSE: EP)
-- http://www.elpaso.com/-- is an energy company that provides
natural gas and related energy products.  The company owns North
America's interstate pipeline system, which has approximately
55,500 miles of pipe.  It also owns approximately 470 billion
cubic feet of storage capacity and a liquefied natural gas
import facility with 806 million cubic feet of daily base load
send out capacity.  El Paso's exploration and production
business is focused on the exploration for and the acquisition,
development and production of natural gas, oil and natural gas
liquids in the United States, Brazil and Egypt.  It operates in
three business segments: Pipelines, Exploration and Production
and Marketing.  It also has a Power segment, which holds its
remaining interests in international power plants in Brazil,
Asia and Central America.

Southern Natural Gas Company's business consists of the
interstate transportation and storage of natural gas and LNG
terminalling operations.

Colorado Interstate Gas Company's business consists of the
interstate transportation, storage and processing of natural
gas.

                        *     *     *

Moody's Investor Services placed El Paso Corporation's
probability default and long term corporate family ratings at
"Ba3" in March 2007, which still holds to date.  Moody's said
the outlook is positive.

As reported in the Troubled Company Reporter-Latin America on
June 15, 2007, Fitch Ratings affirmed the ratings of El Paso
Corporation and its core pipeline subsidiaries, and assigned a
senior unsecured rating of 'BB+' to the company's proposed
offering of US$1.275 billion of senior unsecured notes due in
2014 and 2017.  Fitch said the rating outlook is stable.


FORD MOTOR: Expects to Sell British Marques in Two Months
---------------------------------------------------------
John Fleming, head of Ford Motor Co.'s European operations, sees
to sell Jaguar and Land Rover brands in two months time to a
single bidder, various reports say.  Mr. Fleming expressed,
according to the reports, that the two luxury brands could not
be sold separately because they are highly integrated.

On the other hand, Mr. Fleming stated that Ford continues to
evaluate the effects of a possible sale of its Swedish brand,
Volvo, to the firm, the reports add.

Early this month, the Troubled Company Reporter said, citing
Financial Times, that Terra Firma Capital Partners Limited has
joined the bid for Ford's British marques as Guy Hands, Terra's
head, began to accomplish due diligence for the bid.

Terra joined four other suitors, Ripplewood Holdings LLC, Tata
Motors Limited, TPG Capital L.P. also known as Texas Pacific
Group, and One Equity Partners in the bid.  Two Indian firms,
Mahindra & Mahindra and Cerberus, had quit the buying race.

Ford had been expecting indicative bids this month.  The
carmaker seeks to finalize the sale deal by December or early
next year.

                      About Ford Motor

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles
in 200 markets across six continents.  With about 260,000
employees and about 100 plants worldwide, the company's core and
affiliated automotive brands include Ford, Jaguar, Land Rover,
Lincoln, Mercury, Volvo, Aston Martin, and Mazda.  The company
provides financial services through Ford Motor Credit Company.

The company has operations in Japan in the Asia Pacific region.
In Europe, the company maintains a presence in Sweden, and the
United Kingdom.  The company also distributes its brands in
various Latin American regions, including Argentina and Brazil.

                        *     *     *

As reported in the Troubled Company Reporter on July 30, 2007,
Moody's Investors Service said that the performance of Ford
Motor Company's global automotive operations for the second
quarter of 2007 was significantly stronger than the previous
year and better than street expectations.

However, Moody's explained that the company continues to face
significant competitive and financial challenges, and the rating
agency expects that Ford's credit metrics and rate of cash
consumption will likely remain consistent with no higher than a
B3 corporate family rating level into 2008.

According to the rating agency, Ford's corporate family rating
is currently a B3 with a negative outlook.  The rating is
pressured by the shift in consumer preference from high margin
trucks and SUVs, and by the need for a new 2007 UAW contract
that provides meaningful relief from high health care costs and
burdensome work rules, Moody's relates.

In June 2007, S&P raised the Issue Rating on Ford's senior
secured credit facilities to B+ from B.


GENERAL MOTORS: Moody's Revises Outlook to Positive
---------------------------------------------------
Moody's Investors Service has changed the outlook of General
Motors Corporation's long-term-debt rating to positive from
negative, and also raised the company's speculative grade
liquidity rating to SGL-1 from SGL-3 following the company's
announcement of the terms of its new contract with the United
Auto Workers.  GM's existing long-term ratings -- including B3
corporate family, Ba3 senior secured, and Caa1 senior unsecured
-- are unchanged.  The ratings of GMAC (senior rating of
Ba1/Negative outlook) are also unaffected.

The positive outlook recognizes the substantial long-term cost
benefits of the new UAW contract, balanced against the
significant near-term product and revenue challenges the company
will continue to face during 2008 and 2009. Importantly, GM has
a substantial liquidity position consisting of US$30 billion in
cash and US$5.8 billion in long-term credit facilities.  This
liquidity position will provide ample financial flexibility
during the next two years as GM faces these challenges and moves
toward the 2010 period during which the substantial cost
benefits of the new UAW contract begin to take hold.  During the
next 12 to 18 months if the company demonstrates the capacity to
make progress in addressing product and revenue challenges -
stabilizing its share position, building market acceptance of
new products, maintaining a disciplined approach toward the use
of incentives, and limiting sales to the daily rental segment -
its rating could be considered for possible upgrade.  Such an
action would recognize Moody's view that GM is capable of making
continuing progress in establishing a competitive and
sustainable business model, and taking full advantage of the
cost benefits that the UAW contract will afford by 2010.  Any
consideration for a possible upgrade would also reflect Moody's
expectation that GM is capable of generating positive free cash
flow, sustaining interest coverage exceeding 1.0, and achieving
EBITA margins approximating 2.5% during the 2009 time frame.

Bruce Clark, senior vice president with Moody's, said, "This
contract will help to significantly narrow the cost disadvantage
that GM has relative to Asian transplants.  Its various elements
could save the company as much as US$4 billion per year, and
lower wage and benefit costs by more than US$800 per vehicle."
However, Mr. Clark cautioned that "While the contract has some
truly transformational elements, meaningful cost benefits won't
begin to take hold until 2010, and GM will face a pretty tough
environment until then.  The company's biggest challenge will
remain on the revenue and product side -- producing automobiles
that consumers want and that are priced high enough to generate
a profit."

GM's new UAW contract could lay the groundwork to significantly
improve the company's long-term competitive position by allowing
a two-tier wage structure, altering the conditions for idled
worker participation in the JOBs bank program, and shifting
responsibility for retiree health care to a UAW-managed VEBA.
The two-tier wage structure could begin to yield moderate but
increasing benefits during 2009, and the changes to the JOBs
bank program will afford important flexibility to adjust
manufacturing capacity to market conditions.  The creation of
the UAW-managed VEBA would free GM from approximately US$3.5
billion in annual retiree healthcare payments beginning in 2010.

However, during 2008 and 2009 there will be minimal operational
benefits from the contract, and GM will have to fund
approximately US$4 billion in upfront cash payments to implement
the agreement.  In addition, the company will have to contend
with considerable near-term market and competitive challenges.
These include: the ongoing pressure on its US share position;
the shift in North American consumer preference toward smaller
vehicles; a financially weak supplier base; and the competitive
pressures that force it to price its automobiles (as
distinguished from trucks and SUVs) several thousand dollars
less that similarly-equipped Asian vehicles.  In addition, the
US auto sector could face softening demand during 2008.  As a
result of these operational challenges, GM's key financial
metrics will likely remain weak during the coming year with
negative free cash flow, and interest coverage of less than 1.0.

The increase in the speculative grade liquidity rating to SGL-1
recognizes that GM will have very strong sources of liquidity to
cover all cash requirements through 2008.  These sources include
approximately US$30 billion in cash and securities, and US$5.8
billion in committed credit facilities with maturities beyond
2009.  These sources should enable GM to comfortably fund all
cash requirements associated with the implementation of the new
UAW contract, restructuring expenditures to accelerate hourly-
worker attrition, debt maturities, and operating requirements
through 2009.

Headquartered in Detroit, Michigan, General Motors Corp.
(NYSE: GM) -- http://www.gm.com/-- was founded in 1908.  GM
employs about 280,000 people around the world and manufactures
cars and trucks in 33 countries, including the United Kingdom,
Germany, France, Russia, Brazil and India.  In 2006, nearly 9.1
million GM cars and trucks were sold globally under the
following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo,
Holden, HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall.  GM's
OnStar subsidiary is the industry leader in vehicle safety,
security and information services.


TRW AUTOMOTIVE: Inks Joint Venture Pact with Arvinmeritor Inc.
--------------------------------------------------------------
TRW Automotive Aftermarket, a unit of TRW Automotive Holdings
Corp., entered into an agreement to create a Joint Venture with
ArvinMeritor Inc. to distribute Gabriel and TRW branded shock
absorber ranges for the European independent aftermarket.  The
intention is for the Joint Venture to begin operation and
distribution in January 2008.

"Shock absorbers are an integral element of our core chassis
portfolio," Francois Augnet, vice president for TRW Automotive
Aftermarket Europe and Asia Pacific, said.  "We already offer a
comprehensive TRW branded range to our European customers and
are committed to enhancing it with the Gabriel programme to
maintain and develop our leading chassis position in the
European aftermarket."

"By combining the strengths of ArvinMeritor's engineering and
manufacturing competencies and the Gabriel brand name with
TRW's extensive sales and distribution network we are confident
that we can roll out successful shock absorber programmes for
the European independent aftermarket," Mr. Augnet continued.

With the recent sale of its European exhaust aftermarket
business, ArvinMeritor has sharpened its focus on original
equipment manufacturer systems engineering.  This includes a
renewed emphasis on its global ride control business.

With the Joint Venture, TRW and ArvinMeritor will jointly
control the future marketing, sales and distribution of the
Gabriel and TRW aftermarket programmes throughout Western,
Central and Eastern Europe.

"This is a great example of how both partners can share in the
investment, as well as reap the benefits," Marlen Silverii,
general manager for ArvinMeritor's global ride control
aftermarket business added.  "The Gabriel aftermarket product
line is technically very strong, and when partnered with TRW's
growing aftermarket presence, it will offer our aftermarket
customers a strong chassis alternative."

                     About Arvinmeritor

Headquartered in Troy, Michigan, ArvinMeritor, Inc. (NYSE: ARM)
-- http://www.arvinmeritor.com/-- supplies integrated systems,
modules and components to the motor vehicle industry.  The
company serves light vehicle, commercial truck, trailer and
specialty original equipment manufacturers and certain
aftermarkets.  ArvinMeritor employs about 19,000 people in 25
countries.

                    About TRW Automotive

Headquartered in Livonia, Michigan, TRW Automotive Holdings
Corp. (NYSE: TRW) -- http://www.trwauto.com/-- is an automotive
supplier.  Through its subsidiaries, it employs approximately
63,800 people in 26 countries, including Brazil, China, Germany
and Italy.  TRW Automotive products include integrated vehicle
control and driver assist systems, braking systems, steering
systems, suspension systems, occupant safety systems (seat belts
and airbags), electronics, engine components, fastening systems
and aftermarket replacement parts and services

TRW Automotive Aftermarket provides high quality replacement
parts, service, diagnostics and technical support to both the
independent aftermarket and the vehicle manufacturer service
channels.

                        *     *     *

Fitch assigned a 'BB' on TRW Automotive Holdings Corp.'s LT
Issuer Default rating and 'BB-' on its Unsecured Debt rating.
Fitch said the outlook is stable.




===========================
C A Y M A N   I S L A N D S
===========================


BALSAM EQUITY: Creditors Must File Proofs of Claim by Nov. 5
------------------------------------------------------------
Balsam Equity Limited's creditors are given until Nov. 5, 2007,
to prove their claims to Westport Services Ltd., the company's
liquidator, or be excluded from receiving any distribution or
payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Balsam Equity's shareholders agreed on Sept. 27, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

        Westport Services Ltd.
        P.O. Box 1111
        Grand Cayman KY1-1102, Cayman Islands


BALSAM EQUITY INVESTMENTS: Proofs of Claim Filing Ends on Nov. 5
----------------------------------------------------------------
Balsam Equity Investments Limited's creditors are given until
Nov. 5, 2007, to prove their claims to Westport Services Ltd.,
the company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Balsam Equity's shareholders agreed on Sept. 27, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

        Westport Services Ltd.
        P.O. Box 1111
        Grand Cayman KY1-1102, Cayman Islands


BALSAM HOLDINGS: Creditors Must File Proofs of Claim by Nov. 5
--------------------------------------------------------------
Balsam Holdings Limited's creditors are given until
Nov. 5, 2007, to prove their claims to Westport Services Ltd.,
the company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Balsam Holdings' shareholders agreed on Sept. 27, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

        Westport Services Ltd.
        P.O. Box 1111
        Grand Cayman KY1-1102, Cayman Islands


BALSAM INVESTMENTS: Proofs of Claim Filing Is Until Nov. 5
----------------------------------------------------------
Balsam Investments Limited's creditors are given until
Nov. 5, 2007, to prove their claims to Westport Services Ltd.,
the company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Balsam Investments' shareholders agreed on Sept. 27, 2007, to
place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidator can be reached at:

        Westport Services Ltd.
        P.O. Box 1111
        Grand Cayman KY1-1102, Cayman Islands


GALATEA FUND: Proofs of Claim Must be Filed by Nov. 14
------------------------------------------------------
Galatea Fund's creditors are given until Nov. 14, 2007, to prove
their claims to Steve Penney, the company's liquidator, or be
excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Galatea Fund's shareholders agreed on 2007, to place the company
into voluntary liquidation under Bermuda's Companies Act 1981.

The liquidator can be reached at:

          Steve Penney
          37 Fitzwilliam Place
          Dublin 2, Ireland


GFIA-SHK MANAGERS: Creditors Must File Proofs of Claim by Nov. 7
----------------------------------------------------------------
GFIA-SHK Managers Ltd.'s creditors are given until Nov. 7, 2007,
to prove their claims to David A.K. Walker and Lawrence Edwards,
the company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

GFIA-SHK's shareholders agreed on Sept. 30, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidators can be reached at:

        David A.K. Walker
        Lawrence Edwards
        PwC Corporate Finance & Recovery (Cayman) Limited
        P.O. Box 258
        Strathvale House
        Grand Cayman KY1-1104, Cayman Islands

Contact for inquiries:

        Jodi Jones
        P.O. Box 258
        Grand Cayman KY1-1104
        Cayman Islands
        Tel: (345) 914 8694
        Fax: (345) 945 4237


HEDERA INVESTMENTS: Proofs of Claim Filing Ends on Nov. 5
---------------------------------------------------------
Hedera Investments Limited's creditors are given until
Nov. 5, 2007, to prove their claims to Raymond E. Whittaker, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Hedera Investents' shareholders agreed on Sept. 26, 2007, to
place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidator can be reached at:

       Raymond E. Whittaker
       FCM Ltd.
       Grand Pavilion Commercial Centre Main Entrance
       P.O. Box 1982
       Grand Cayman KY-1104, Cayman Islands


ILLINOIS MASONIC: Proofs of Claim Filing Deadline Is Nov. 30
------------------------------------------------------------
Illinois Masonic Insurance Company, Ltd.'s creditors are given
until Nov. 30, 2007, to prove their claims to Graham Manchester
and Seamus Tivnan, the company's liquidators, or be excluded
from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Illinois Masonic's shareholders agreed on Sept. 5, 2007, to
place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidators can be reached at:

         Graham Manchester
         Seamus Tivnan
         Marsh Management Services Cayman Ltd.
         Governors Square, Bldg. 4
         2nd Floor, 23 Lime Tree Bay Ave.
         P.O. Box 1051, Grand Cayman KY1-1102
         Cayman Islands
         Telephone: (345) 949 7988
         Fax: (345) 945 7849


ILLINOIS MASONIC: Sets Final Shareholders Meeting for Dec. 31
-------------------------------------------------------------
Illinois Masonic Insurance Company, Ltd., will hold its final
shareholders meeting on Dec. 31, 2007, at 2:00 p.m. at:

          Marsh Management Services Cayman Ltd.
          Governors Square, 23 Lime Tree Bay Avenue

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of; and

   2) hearing any explanation that may be given by the
      liquidators and considering if all the books, accounts,
      papers and documents of the company and of the liquidators
      be retained two years from the dissolution of the company,
      after which they will be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

          Seamus Tivnan
          Graham Manchester
          Marsh Management Services Cayman Ltd.
          Governors Square, Bldg 4.
          2nd Floor, 23 Lime Tree Bay Ave.
          P.O. Box 1051, Grand Cayman KY1-1102
          Cayman Islands
          Telephone: (345) 949 7988
          Fax: (345) 945 7849


MASTR CI-8: Will Hold Final Shareholders Meeting on Dec. 14
-----------------------------------------------------------
Mastr CI-8 will hold its final shareholders meeting on
Dec. 14, 2007 at:

          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of; and

   2) giving any explanation thereof.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Giles Kerley
          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands


ML CBO: Holding Final Shareholders Meeting on Dec. 14
-----------------------------------------------------
ML CBO VII (Cayman) Ltd. will hold its final shareholders
meeting on Dec. 14, 2007 at:

          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of; and

   2) giving any explanation thereof.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Richard Gordon
          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands


PGI ENTREPRENEURS: Final Shareholders Meeting Is on Dec. 14
-----------------------------------------------------------
PGI Entrepreneurs Midas (Cayman) Ltd. will hold its final
shareholders meeting on Dec. 14, 2007 at:

          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of; and

   2) giving any explanation thereof.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

          Emile Small
          Richard Gordon
          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands


QUANTIVA INVESTMENT: Proofs of Claim Filing Deadline Is Nov. 6
--------------------------------------------------------------
The Quantiva Investment Management Ltd.'s creditors are given
until Nov. 6, 2007, to prove their claims to Christopher D.
Johnson and Russell Smith, at Chris Johnson Associates Ltd., the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Quantiva Investment's shareholders agreed on Sept. 19, 2007, to
place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidators can be reached at:

        Christopher D. Johnson
        Russell Smith
        Chris Johnson Associates Ltd.
        Elizabethan Square, George Town
        Grand Cayman, Cayman Islands

Contact for inquiries:

        Sumitra Devi
        P.O. Box 2499 George Town
        Grand Cayman KY1-1104
        Cayman Islands
        Tel: (345) 946 0820
        Fax: (345) 946 0864


REMARKABLE FUNDING: Final Shareholders Meeting Is on Dec. 14
------------------------------------------------------------
Remarkable Funding Corporation will hold its final shareholders
meeting on Dec. 14, 2007 at:

          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of; and

   2) giving any explanation thereof.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Giles Kerley
          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands


SEAGATE TECH: Earns US$355 Million in Quarter Ended Sept. 28
------------------------------------------------------------
Seagate Technology reported disc drive unit shipments of 47
million, revenue of US$3.3 billion, GAAP net income of US$355
million, and diluted net income per share of US$0.64 for the
quarter ended Sept. 28, 2007.

GAAP net income and diluted net income per share includes
approximately US$30 million of purchased intangibles
amortization and other charges associated with the Maxtor and
EVault acquisitions.  Excluding these charges, non-GAAP net
income and diluted net income per share were US$385 million and
US$0.69.  Included in both GAAP and non-GAAP results are
restructuring charges of approximately US$5 million or
approximately US$0.01 per share.

"Our strong performance in the quarter reflects favorable
industry conditions as well as the competitive strength of
Seagate's unique platform and commitment to innovation," said
Bill Watkins, Seagate chief executive officer.  "The first
fiscal quarter has historically been a strong one for Seagate,
and this year, we benefited from unit demand greater than
expected.  We believe we are well positioned to continue driving
year-over-year revenue growth, and these record quarterly
results demonstrate the effectiveness of Seagate's business
model."

                      Business Outlook

For the December quarter, Seagate expects to report revenue of
US$3.4 to US$3.5 billion, and GAAP diluted net income per share
of US$0.66 to US$0.70.  Excluding approximately US$26 million of
purchased intangibles amortization and other charges associated
with the Maxtor and EVault acquisitions, non-GAAP diluted net
income per share for the December quarter is expected to fall
within the range of US$0.71 to US$0.75.

This guidance does not include the impact of any future
acquisitions, stock repurchases or restructuring activities the
company may undertake.

                Dividend and Stock Repurchase

The company has declared a quarterly dividend of US$0.10 per
share to be paid on or before Nov. 16, 2007, to all common
shareholders of record as of Nov. 2, 2007.

During the quarter ended Sept. 28, 2007, the company took
delivery of approximately 10.3 million of its common shares
related to its share repurchase plan. The average price of the
shares delivered to the company in the June quarter was
US$24.27.  The company has authorization to purchase
approximately US$725 million of additional shares under the
current stock repurchase program.

                   About Seagate Technology

Headquartered in Scotts Valley, California, and registered in
Cayman Islands, Seagate Technology (NYSE: STX) --
http://www.seagate.com/-- designs, manufactures and markets
hard disc drives, and provides products for a wide-range of
Enterprise, Desktop, Mobile Computing, and Consumer Electronics
applications.

                        *     *     *

Moody's Investors Service has confirmed on July 17, 2006, the
ratings of Seagate Technology HDD Holdings and upgraded the
ratings of Maxtor Corp., now a wholly owned subsidiary of
Seagate Technology US Holdings, following the completion of its
acquisition on May 19, 2006, and subsequent guaranteeing of
Maxtor's debt by Seagate.  This concludes the review initiated
by Moody's on Dec. 21, 2005.  The review was prompted by the
company's announcement of its intention to acquire Maxtor in an
all-stock transaction for approximately US$1.9 billion.  Moody's
said the ratings outlook is stable.

Moody's confirmed these ratings:

     -- Corporate Family Rating: Ba1; and
     -- SGL Rating of 1.

Moody's upgraded these ratings:

   Seagate Technology HDD Holdings:

     -- US$400 million senior notes 8%, due 2009: to Ba1


SMOKY RIVER CDO GP: Sets Final Shareholders Meeting for Dec. 14
---------------------------------------------------------------
Smoky River CDO G.P. Co., Ltd., will hold its final shareholders
meeting on Dec. 14, 2007 at:

          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of; and

   2) giving any explanation thereof.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Richard Gordon
          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands


SMOKY RIVER CDO LP: To Hold Last Shareholders Meeting on Dec. 14
----------------------------------------------------------------
Smoky River CDO L.P. Co., Ltd., will hold its final shareholders
meeting on Dec. 14, 2007 at:

          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of; and

   2) giving any explanation thereof.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Richard Gordon
          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands


STONE HARBOR: Creditors Must File Proofs of Claim by Nov. 5
-----------------------------------------------------------
Stone Harbor Advisors (Cayman), Ltd.'s creditors are given until
Nov. 5, 2007, to prove their claims to Mitchell Porten, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

The liquidator can be reached at:

        Mitchell Porten
        1132 Bishop Street
        Suite 1580
        Honolulu, Hawaii 96813

On behalf of the liquidator, you may contact:

        Colin J. MacKay
        c/o Ogier
        Queensgate House
        South Church Street
        P.O. Box 1234
        Grand Cayman KY1-1108
        Cayman Islands


STONE HARBOR OFFSHORE: Proofs of Claim Filing Deadline Is Nov. 5
----------------------------------------------------------------
Stone Harbor Offshore Fund, Ltd.'s creditors are given until
Nov. 5, 2007, to prove their claims to Westport Services Ltd.,
the company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

The liquidator can be reached at:

        Westport Services Ltd.
        P.O. Box 1111
        Grand Cayman KY1-1102, Cayman Islands


TECH CHAIN: Creditors Must File Proofs of Claim by Nov. 5
---------------------------------------------------------
Tech Chain Reaction Fund's creditors are given until
Nov. 5, 2007, to prove their claims to Albert King Chung-Cheng,
the company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Tech Chain's shareholders agreed on Sept. 27, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

         Albert King Chung-Cheng
         15F-9, No. 6, Sinyi Road, Section 4
         Taipei, Taiwan


TRIO ASSET: Sets Final Shareholders Meeting for Dec. 14
-------------------------------------------------------
Trio Asset Funding Corporation will hold its final shareholders
meeting on Dec. 14, 2007 at:

          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the winding-up process and how the property
      has been disposed of; and

   2) giving any explanation thereof.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Emile Small
          Maples Finance Limited
          Boundary Hall, Cricket Square, George Town,
          Grand Cayman, Cayman Islands


VERITAS HIGH: Proofs of Claim Filing Is Until Nov. 5
----------------------------------------------------
Veritas High Yield Arbitrage Fund Ltd.'s creditors are given
until Nov. 5, 2007, to prove their claims to Hugh Dickson, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Veritas High's shareholders agreed on Sept. 25, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

        Hugh Dickson
        c/o Peter Bigwood
        Grant Thornton Specialist Services (Cayman) Limited
        P.O. Box 1370 Grand Cayman
        Commerce House, 2nd Floor
        7 Dr. Roy's Drive
        Grand Cayman KY1-1108


WEST 57 FINANCE: Creditors Must File Proofs of Claim by Nov. 5
--------------------------------------------------------------
West 57 Finance Limited's creditors are given until
Nov. 5, 2007, to prove their claims to Westport Services Ltd.,
the company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

West 57's shareholders agreed on Sept. 27, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

        Westport Services Ltd.
        P.O. Box 1111
        Grand Cayman KY1-1102, Cayman Islands




=========
C H I L E
=========


GMAC LLC: Moody's Maintains Negative Outlook on Ba1 Ratings
-----------------------------------------------------------
Moody's Investors Service has affirmed GMAC's ratings (Ba1
senior unsecured, Not-Prime short-term), while maintaining its
negative rating outlook.  This followed Moody's decision to
change the rating outlook for General Motors Corporation to
positive from negative.

Moody's expectation that GM's operating fundamentals will
improve with the implementation of its new labor accord has
positive implications for GMAC's credit profile, given the
extent and scale of GMAC's business ties to GM.  However,
weakened performance at Residential Capital LLC, GMAC's
residential mortgage finance subsidiary, continues to pose more
immediate risks to GMAC's profile that warrants maintaining
GMAC's negative rating outlook.  ResCap's Ba1 senior unsecured
rating is on review for possible downgrade, reflecting operating
challenges and uncertainties regarding its funding and
origination flows in its businesses due to continued volatility
in the mortgage market.

If ResCap's performance were to suffer additional setbacks, GMAC
could decide to support ResCap financially, possibly to the
detriment of its own stand-alone profile.  Should such support
become probable, Moody's would equalize GMAC's ratings with
ResCap's ratings.

Moody's analyst Mark Wasden said, "Extension of support by GMAC
to ResCap potentially undermines the notion of separate
operating and financial protocols between the companies."  He
added that, "a down-streaming of support from GMAC's owners,
however, could leave GMAC in a neutral position from a rating
standpoint, all else equal."

Positive developments at GM are likely to eventually be
beneficial to GMAC's business results, if GM's profitability
improves.  Moody's notes, however, that there remains
uncertainty regarding GM's long-term competitive positioning and
performance.  GM's credit profile will continue to be a key
driver of GMAC's credit ratings.

"On the other hand, GMAC's ratings are not likely to increase on
the basis of any further improvement in GM's ratings, as long as
uncertainties at ResCap remain at a heightened level," said Mr.
Wasden.

Earnings in GMAC's auto and insurance operations have proved
resilient amidst GM-related challenges.  Still, the firm is
contending with finance margins that, while improved in 2007,
remain weaker than in historical periods.  GMAC's margins
therefore have less capacity to absorb a negative turn in asset
performance.  Positively, GMAC has managed its liquidity well in
light of recent challenges in the credit markets, though spread
widening is likely to affect near-term results.

                          About GMAC

GMAC LLC -- http://www.gmacfs.com/formerly General Motors
Acceptance Corporation, is a global, diversified financial
services company that operates in approximately 40 countries in
automotive finance, real estate finance, insurance and other
commercial businesses.  GMAC was established in 1919 and
currently employs about 31,000 people worldwide.  Its Latin
American operations are located in Argentina, Brazil, Chile,
Colombia, Mexico and Venezuela.  GMAC reported a June 30, 2007,
six-month consolidated net loss of US$12 million.


HOUGHTON INT'L: Moody's Reviews B2 Rating for Likely Downgrade
--------------------------------------------------------------
Moody's Investors Service placed the ratings of Houghton
International, Inc. (corporate family rating B2) under review
for possible downgrade following the announcement that it has
entered into an agreement to merge with a newly formed affiliate
of AEA Investors LLC.  Terms of the deal were not disclosed.
However, the review for downgrade reflects the likelihood of
greatly increased leverage following this transaction, which is
expected to close in the fourth quarter of 2007 and is subject
to shareholder approval and satisfaction of various closing
conditions, including regulatory review.

The ratings under review are:

Houghton International, Inc.

-- Corporate family rating -- B2
-- Probability of default rating -- B2
-- US$90 millioni Gtd Sr. Sec Term Loan due 2011, B2
-- US$25 million Gtd Sr. Sec Revolving Credit Facility due
    2010, B2

Moody's expects the transaction to be financed with a
significant amount of debt, which would result in a meaningful
increase in Houghton's leverage.  It is likely that the existing
bank debt will be repaid in connection with financing of the
merger.  Moody's review will incorporate an assessment of the
company's final financing structure as well as potential changes
to the financial policies and strategic direction under the new
ownership.

Headquartered in Valley Forge, Pennsylvania, Houghton
International Inc. manufactures oils and specialty chemicals for
lubrication in most of the big midwestern industries:
metalworking, automotive, and steel.  Its products range from
aluminum and steel rolling lubricants to rust preventatives to
fire-resistant hydraulic fluids.  The FLUIDCARE division helps
manufacturers reduce costs through chemical management and
recycling.  It maintains more than 30 sales and manufacturing
facilities in North and South America, Europe, Africa,
Australia, and Asia.  The Company was founded in 1865.  It has
operations in Brazil and Chile.


HOUGHTON INT'L: S&P Places B+ Rating on Watch Negative
------------------------------------------------------
Standard & Poor's Ratings Services has placed its ratings on
Houghton International Inc. on CreditWatch with negative
implications.  The corporate credit rating is 'B+'.

"The CreditWatch listing follows Houghton's announcement that
the company entered into an agreement to merge with a newly
formed affiliate of AEA Investors, a private equity firm," said
S&P's credit analyst Henry Fukuchi.  "While details of the
financing plan related to the merger are not yet known, S&P
expects that the transaction will result in a more aggressively
leveraged capital structure."

The merger agreement is subject to shareholder approval and the
satisfaction of various closing conditions, including regulatory
approvals, and is expected to close before the end of the year.
Houghton does not anticipate any immediate changes in its
facilities, employment, or range of product and service
offerings, and all of the members of senior management are
expected to continue with the company.

"We will resolve the CreditWatch listing after meeting with
management and reviewing the financial policy and plans for a
revised capital structure," Mr. Fukuchi said.

Headquartered in Valley Forge, Pennsylvania, Houghton
International Inc. manufactures oils and specialty chemicals for
lubrication in most of the big midwestern industries:
metalworking, automotive, and steel.  Its products range from
aluminum and steel rolling lubricants to rust preventatives to
fire-resistant hydraulic fluids.  The FLUIDCARE division helps
manufacturers reduce costs through chemical management and
recycling.  It maintains more than 30 sales and manufacturing
facilities in North and South America, Europe, Africa,
Australia, and Asia.  The Company was founded in 1865.  It has
operations in Brazil and Chile.




===============
C O L O M B I A
===============


EMPRESA DE ENERGIA: Proposes Sale of US$710-Million in Bonds
------------------------------------------------------------
Empresa de Energia de Bogota SA ESP, the second-biggest
electricity transporter in Colombia, plans a US$710 million bond
sale in European markets, Bloomberg News reports.

EEB International Ltd., Empresa de Energia's finance unit, will
issue the senior, unsecured notes due in seven to ten years, the
same report says.

According to Bloomberg, the company will use proceeds from the
sale to help repay a US$1.5 billion that Empresa de Energia
incurred to purchase Empresa Colombiana de Gas SA, or Ecogas, in
December 2006.  Transportadora de Gas del Interior SA, another
subsidiary of the Colombian company, sold US$750 million of
dollar bonds in September to help finance the purchase of
Ecogas.

Empresa de Energia de Bogota S.A. ESP is an energy holding
company in Colombia.  The company participates in the Colombian
electricity transmission system where it has 7.16% market share.
EEB also participates in electricity generation and
distribution, as well as gas transportation and distribution.
The company is controlled by the District Capital of Bogota,
which has an 81.5% stake.


EMPRESA DE ENERGIA: Fitch Rates US$710 Mil. Proposed Issue at BB
----------------------------------------------------------------
Fitch Ratings has assigned a preliminary rating of 'BB' to
Empresa de Energia de Bogota S.A. ESP's proposed issuance of up
to US$710 million in senior unsecured notes.  Concurrently,
Fitch has assigned foreign and local currency Issuer Default
Ratings of 'BB' to EEB.  The proceeds of the notes will be used
to repay a portion of a bridge loan entered into by EEB for
Transportadora de gas del Interrior S.A. ESP's acquisition of
Ecogas' natural gas transportation assets.  The rating outlook
is stable.

EEB's ratings reflect the company's diversified portfolio of
energy assets, with low business risk profile and stable cash
flow generation.  EEB's ratings also reflect the company's
exposure to regulatory risk throughout most businesses.  The
company has moderately high leverage, which is consistent with
the rating category.  Furthermore, the ratings incorporate the
implicit support of the Bogota District Capital, owner of 81.5%
of EEB.  In the past, Bogota D.C. has diluted its position in
EEB bringing new capital to the company in order to improve
EEB's financial profile.

EEB's low business risk profile stems from its diversified
portfolio of energy and power related assets throughout Colombia
and Peru.  In Colombia EEB operates an electricity transmission
line that accounts for approximately 7.2% of the market and
holds majority and minority positions in four power and gas
companies.  In Peru, it holds participations in two transmission
companies.  EEB owns 51.5% of Codensa, the largest electricity
distribution company in the country with approximately 2 million
customers.  It also owns 51.5% of Emgesa S.A. E.S.P., the
largest electric generation company in Colombia (after merging
with Betania) with 2,780 megawatts of installed capacity.  EEB
also owns 24.9% and 97.9% of Gas Natural S.A. and Transportadora
de Gas del Interior S.A. E.S.P (TGI), respectively.  The former
is a natural gas distribution company with 1.4 million customers
and the latter is the largest natural gas transportation company
in Colombia with 3,702 kilometers of pipelines.

The company is competitively well positioned in all its
businesses as most are natural monopolies, or have significant
market share position in the sector they operate.  Electricity
and gas distribution and transmission/transportation are natural
monopolies with low business risk and stable cash flow
generation.  The electricity generation business in Colombia is
considered to be highly competitive given the country's
significant low cost hydroelectric generation and significant
overcapacity; installed capacity covers demand almost by two
times.  EEB's energy generation business is competitively well
positioned given its low cost capacity generation mix, 88.5%
hydro 11.5% thermo.

EEB's pro-forma credit metrics are consistent with the assigned
rating category. The company reported a leverage ratio as
measured by total debt-to-EBITDA plus dividends received of 4.4
times and net total debt-to-EBITDA plus dividends received of
3.9x as of the twelve months ended June 30, 2006.  Prior to the
company's acquisition of Ecogas assets, EEB had only US$86
million of debt, as of year-end 2006.  Interest coverage as
measured by EBITDA plus dividends received-to-interest expense
as of the LTM June 30, 2006, was 3.7x.

Empresa de Energia de Bogota S.A. ESP is an energy holding
company.  The company participates in the Colombian electricity
transmission system where it has 7.16% market share.  EEB also
participates in electricity generation and distribution, as well
as gas transportation and distribution.  The company is
controlled by the District Capital of Bogota, which has an 81.5%
stake.


EMPRESA DE ENERGIA: S&P Puts BB+ Rating on US$710-Mil. Notes
------------------------------------------------------------
Standard & Poor's Ratings Services has assigned its 'BB+'
corporate credit rating to Empresa de Energia de Bogota S.A.
E.S.P.  At the same time, S&P assigned its 'BB' rating to EEB's
notes for up to US$710 million with a target maturity from 2014
to 2017.  The outlook is stable.  The 'BB' rating assigned to
the notes reflects the structural subordination between parent-
subsidiary creditors.

"The 'BB+' rating on EEB reflects the aggressive use of debt to
finance the acquisition of the Ecogas business through its
subsidiary Transportadora de Gas del Interior
(TGI, BB/Stable/--) that will result in a total debt-to-EBITDA
ratio of approximately 5.0x in 2007, the partial currency
mismatch between revenues and debt service obligations
associated with the new bond issue at TGI and the upcoming bond
issue at EEB, as well as the dependence on dividend payments
from its subsidiaries and related companies," said S&P's credit
analyst Luis Manuel Martinez.

These weaknesses are partially offset by S&P's perception of
implicit support from the City of Bogota (Bogota Distrito
Capital, BB+/Stable/--), with an 81.5% ownership stake in EEB,
the company's diversified portfolio in the energy sector, a
proven and stable regulatory framework, the favorable economic
growth prospects in Colombia, a positive electricity and natural
gas consumption trends that will support the long-term growth of
demand, and S&P's expectations that EEB will continue to
generate stable cash flows.

The stable outlook on EEB reflects S&P's expectation of
consistent performance over the next 24 months.  Failure to
deleverage its capital structure by a substantial deterioration
in dividend distributions from a major related company, or lower
cash flow generation from the electricity transmission/natural
gas transportation businesses could pressure the rating
downward.  Positive rating momentum would be driven by an
improvement in the company's financial ratios coupled with an
improvement in the rating on the Capital District of Bogota.

Headquartered in Tunja, Colombia, Empresa de Energia de Bogota
S.A. ESP (EEB) -- http://www.eeb.com.co-- is an energy holding
company.  The company participates in the Colombian electricity
transmission system where it has 7.16% market share.  EEB also
participates in electricity generation and distribution, as well
as gas transportation and distribution.  The company is
controlled by the District Capital of Bogota, which owns 81.5%
of the company.




===================
C O S T A   R I C A
===================


CAREY INTERNATIONAL: S&P Withdraws CCC- Corporate Credit Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services has withdrawn all its ratings
on Carey International Inc., including the 'CCC-' long-term
corporate credit rating, at the company's request.

Headquartered in Washington, D.C., Carey is a leading provider
of limousine services serving 550 cities in 65 countries.  Its
Latin American operations include Bahamas, Barbados, Bermuda,
Brazil, Chile, Costa Rica, Mexico, Peru, Puerto Rico, and
Trinidad and Tobago.  Revenues for the year ended May 31, 2007
were about US$253 million.




=====================
E L   S A L V A D O R
=====================


AES CORP: Commences Cash Tender Offer for US$1.24-Bln Sr. Notes
---------------------------------------------------------------
The AES Corporation has commenced a cash tender offer for up to
US$1.24 billion of its outstanding senior notes in accordance
with the terms and conditions described in its Offer to Purchase
dated Oct. 16, 2007.   The tender offer will expire at 12:00
p.m. midnight, New York City time, on Nov. 13, 2007, unless
extended or earlier terminated.

The total consideration payable for each series of Notes will be
based on the yield to maturity of a specified U.S. Treasury
reference security, plus a fixed spread.  The three series of
Notes subject to the tender offer, the acceptance priority
levels, the applicable U.S. Treasury reference security for the
Notes and the applicable fixed spread are as follows:

                           Aggregate
                           Principal  Acceptance  Maturity Date/
Title of    CUSIP/ ISIN     Amount     Priority     Earliest
Security      Numbers     Outstanding   Level    Redemption Date
--------    ---------    ------------ ---------  ---------------
8.75% Sr.   00130HAV7  US$201,809,000     1     June 15, 2008(1)
Notes due
2008

9.00% 2nd   00130HBB0  US$600,000,000     2      May 15, 2008(2)
Priority
Sr. Sec.
Notes      U0080RAG5
due 2015

8.75% 2nd   00130HBA2 US$1,200,000,000    3      May 15, 2008(2)
Priority
Sr. Sec.
Notes      U0080RAF7
due 2013


           Par Amount/                                   Fixed
            Earliest    Early                Bloomberg  Spread
Title of   Redemption   Tender     Reference Reference  (basis
Security   Price(2)(3)  Premium(3) Security    Page     points)
--------   ----------   --------- --------- ---------- --------
8.75% Sr.  US$1,000.00   US$30.00  5.125%       PX3       +50
Notes due                         U.S.T.
2008                              Note due
                                   June 30,
                                   2008

9.00% 2nd  US$1,045.00   US$30.00  5.625%       PX3       +50
Priority                          U.S.T.
Sr. Sec.                          Note due
Notes                             May 15,
due 2015                          2008

8.75% 2nd  US$1,043.75   US$30.00  5.625%       PX3       +50
Priority                          U.S.T.
Sr. Sec.                          Note due
Notes                             May 15,
due 2013                          2008

Holders tendering their Notes on or prior to 5:00 p.m., New York
City time, on Oct. 29, 2007, unless extended or earlier
terminated, will receive the total consideration, which includes
an early tender premium of US$30.00 per US$1,000 principal
amount of Notes purchased.  Holders that tender their Notes
after the Early Tender Time but prior to the Expiration Time
will receive the total consideration less the early tender
premium.  The company will pay the total consideration in
respect of the 8.75% Senior Notes due 2008 and the 9.00% Second
Priority Senior Secured Notes due 2015 that have been validly
tendered and not withdrawn prior to the Early Tender Time and
accepted for purchase by the Company on Oct. 30, 2007.  The
company will pay:

    (i) the total consideration for any 8.75% Second Priority
        Senior Secured Notes due 2013 that were validly tendered
        and not withdrawn prior to the Early Tender Time and
        accepted for purchase by AES and

   (ii) the Tender Offer Consideration for any Notes that were
        validly tendered and not withdrawn after the Early
        Tender Time and prior to the Expiration Time and
        accepted for purchase by the Company on Nov. 14, 2007.

In addition, in all cases, holders will receive accrued interest
from the last interest payment date for such series of Notes to,
but not including, the Early Settlement Date or the Final
Settlement Date, as applicable.

AES may increase or modify the Tender Cap (in which case, the
term Tender Cap will mean such amount as so increased) subject
to applicable law, depending on the principal amount of Notes
validly tendered and not withdrawn without extending withdrawal
rights to Holders.  If the aggregate principal amount of Notes
validly tendered and not withdrawn at the Expiration Time
exceeds the Tender Cap, the company will (subject to the terms
and conditions of the offer) limit the Notes it accepts pursuant
to the Tender Cap and in accordance with the acceptance priority
levels as set forth in the Offer to Purchase.  Since the 8.75%
Senior Notes due 2008 and the 9.00% Second Priority Senior
Secured Notes due 2015 have an acceptance priority level of 1
and 2, respectively, and the aggregate principal amount of the
8.75% Senior Notes due 2008 and the 9.00% Second Priority Senior
Secured Notes due 2015 combined is less than the Tender Cap,
neither the 8.75% Senior Notes due 2008 nor the 9.00% Second
Priority Senior Secured Notes due 2015 will be subject to
proration; only the 8.75% Second Priority Senior Secured Notes
due 2013 will be subject to proration.  Except as set forth in
AES's Offer to Purchase or as required by applicable law, Notes
tendered prior to 5:00 p.m., New York City time, on
Oct. 29, 2007, unless extended by AES in its sole discretion may
only be withdrawn in writing before the Withdrawal Deadline, and
Notes tendered after the Withdrawal Deadline but prior to the
Expiration Time may not be withdrawn.

The tender offer is conditioned on the satisfaction of certain
conditions.  If any of the conditions are not satisfied, AES is
not obligated to accept for payment, purchase or pay for, and
may delay the acceptance for payment of, any tendered Notes, in
each event, subject to applicable laws, and may even terminate
the tender offer.

Citi is the Dealer Manager for the tender offer.  Global
Bondholder Services Corporation is acting as the Information
Agent and Wells Fargo Bank, National Association is acting as
the Depository.  The offer is made only by an Offer to Purchase
dated Oct. 16, 2007, and the information in this news release is
qualified by reference to the Offer to Purchase.  Persons with
questions regarding the offer should contact the Dealer Manager,
toll-free at 800-558-3745 or collect at (212) 723-6106.
Requests for documentation may be directed to the Information
Agent, toll-free at (866) 294-2200.

                          About AES

AES Corp. -- http://www.aes.com/-- is a global power company.
The company operates in South America, Europe, Africa, Asia and
the Caribbean countries.  Specifically, it also has operations
in India.  Generating 44,000 megawatts of electricity through
124 power facilities, the company delivers electricity through
15 distribution companies.  The company's Latin America business
group is comprised of generation plants and electric utilities
in Argentina, Brazil, Chile, Colombia, Dominican Republic, El
Salvador, Panama and Venezuela.

As reported in the Troubled Company Reporter-Latin America on
Oct. 12, 2007, Moody's Investors Service affirmed The AES
Corporation's Corporate Family Rating at B1 and the senior
unsecured rating assigned to its new senior unsecured notes
offering at B1 following its upsizing to USUS$2 billion from
USUS$500 million.  LGD assessments are subject to change pending
the final capital structure.

As reported on Oct. 12, 2007, Fitch Ratings assigned a 'BB/RR1'
rating to AES Corporation's USUS$500 million issue of senior
unsecured notes due 2017.  AES' long-term Issuer Default Rating
is rated 'B+' by Fitch.  Fitch said the rating outlook is
stable.




=================
G U A T E M A L A
=================


AFFILIATED COMPUTER: Earns US$37.6 Mln in 4th Qtr. Ended June 30
----------------------------------------------------------------
Affiliated Computer Services Inc. reported net income of
US$37.6 million for the fourth quarter ended June 30, 2007,
compared with net income of US$86.1 million for the same period
last year.  Fourth quarter fiscal year 2007 revenues were
US$1.52 billion, a 10% increase compared to fourth quarter
fiscal year 2006 revenues of US$1.38 billion.

Fiscal year 2007 revenues were US$5.77 billion, compared with
revenues of US$5.35 billion for fiscal year 2006.  Excluding the
divestiture of the Welfare to Workforce Services business, total
revenue growth was 10% compared to the prior fiscal year.  Net
income for fiscal year 2007 was US$253.1 million, compared with
net income of US$358.8 million for fiscal year 2006.

Lynn Blodgett, ACS' president and chief executive officer, said,
"I am proud of our dedicated employees and their efforts that
drove our strong finish to the year.  Despite non-operational
distractions, we generated record company revenues for the year,
significantly improved our client renewal rates, and enjoyed
outstanding cash flow results.  We are focused on running our
business, growing revenues and profit, and emphasizing
innovation in our offerings."

During the fourth quarter of fiscal 2007, the company completed
the following acquisitions:

  -- CDR Associates LLC for a purchase price of approximately
     US$27.0 million and a potential earnout of up to US$15
     million, based on future results.  CDR, with trailing 12-
     month revenues of approximately US$17.0 million, expands
     ACS' existing services to the healthcare payor market by
     adding credit balance audit services and a web-based credit
     balance system.

  -- certain assets of Albion Inc. for a purchase price of
     approximately US$31.0 million.  Albion, with trailing
     12-month revenues of approximately US$25 million,
     specializes in integrated eligibility software solutions
     for the health and human services market and will enable
     ACS to offer an end-to-end integrated eligibility offering
     across multiple HHS programs.

Cash flow from operations for fiscal year 2007 was US$738
million, or 13% of revenue, and free cash flow was US$378
million, or 7% of revenue.  Capital expenditures and additions
to intangibles were US$360 million, or 6% of revenues.

Fiscal year 2007 new business signings were US$607.0 million of
annual recurring revenue with an estimated total contract value
of US$2.8 billion.  In terms of annual recurring revenue,
approximately 79% of new business signings were business process
outsourcing deals and approximately 21% were information
technology solutions signings.  Additionally, the company
renewed US$869.0 million of annual recurring revenue with an
estimated total contract value of US$2.4 billion during fiscal
year 2007.

At June 30, 2007, the company's consolidated balance sheet
showed US$5.98 billion in total assets, US$3.92 billion in total
liabilities, and US$2.06 billion in total shareholders' equity.

Full-text copies of the company's consolidated financial
statements for the quarter ended June 30, 2007, are available
for free at http://researcharchives.com/t/s?2448

                 About Affiliated Computer

Headquartered in Dallas, Affiliated Computer Services Inc.
(NYSE: ACS) -- http://www.AffiliatedComputer-inc.com/ --
provides business process outsourcing and information technology
solutions to world-class commercial and government clients.  The
company has more than 58,000 employees supporting client
operations in nearly 100 countries.  The company has global
operations in Brazil, China, Dominican Republic, India,
Guatemala, Ireland, Philippines, Poland, and Singapore.

                        *     *     *

Affiliated Computer Services currently carries Fitch Ratings' BB
Issuer Default Rating.




=============
J A M A I C A
=============


NATIONAL WATER: Must Stop Road Works, Says Kingston Mayor
---------------------------------------------------------
Kingston Mayor Desmond McKenzie has demanded that the National
Water Commission stop its Corporate Area road works for public
safety, Radio Jamaica reports.

Radio Jamaica relates that Mayor McKenzie sent a letter to the
National Water's head, E.G. Hunter, threatening to seek a legal
injunction to close down the firm's sewerage project in the
Corporate Area.  He demanded that the firm halt its road
projects until proper signage and warnings had been posted.

The National Water seems to ignore the demand, Radio Jamaica
says, citing Mayor McKenzie.

Mayor McKenzie told Radio Jamaica that he is disturbed about the
dislocation of motorists and businesses by a major project now
being constructed on Oxford Road.

Mayor McKenzie commented to Radio Jamaica, "One proprietor has
just called me to advise me that their business place is being
used as a thoroughfare as traffic has to be diverted through a
gas station. What is happening there is totally unacceptable.
No prior notice was given to the public to say 'Look, we are
going to be undertaking this work at this time' and the public's
sympathy is required for the work to go on."

The Kingston and St. Andrew Corporation is giving the National
Water until Oct. 18, 2007, to respond to the call, Radio Jamaica
states.

                        *     *     *

As reported in the Troubled Company Reporter on Feb. 7, 2006,
the National Water Commission of Jamaica had been criticized for
failing to act promptly in cutting its losses.  For the fiscal
years 2002 and 2003, the water commission accumulated a net loss
of US$2.11 billion.  The deficit fell to US$1.86 billion the
following year, and to US$670 million in 2004 and 2005.


SUGAR COMPANY: Factory Sale Process Upsets All-Island Jamaica
-------------------------------------------------------------
The All-Island Jamaica Cane Farmers Association, the main group
representing stakeholders in the sugar industry, is discontented
with the composition of the team that will evaluate proposals
from bidders for the Sugar Company's five factories, Radio
Jamaica reports.

These are the factories that would be divested:

          -- the Monymusk in Clarendon;
          -- Bernard Lodge in St. Catherine;
          -- Frome Estate in Westmoreland;
          -- Long Pond in Trelawny; and
          -- Duckensfield in St. Thomas.

All-Island Jamaica chairperson Allan Rickards told Radio Jamaica
that it is unacceptable that the same members of the team that
pre-qualified the eight bidders would be reviewing the bids.

According to Radio Jamaica, Mr. Rickards is also upset that key
members of the sugar sector were not in the negotiating team.

Radio Jamaica relates that the team is also comprised of:

          -- Jamaica Boilers Group Vice Chairperson Ian Persaud,

          -- Petro Caribe Development Fund Manager Sharon
             Webster,

          -- Attorney John Vassell, and

          -- the Sugar Industry Authority Chairperson Derrick
             Heaven.

Sugar Company of Jamaica registered a net loss of almost US$1.1
billion for the financial year ended Sept. 30, 2005, 80% higher
than the US$600 million reported in the previous financial year.
Sugar Company blamed its financial deterioration to the
reduction in sugar cane production.  According to published
reports, the Jamaican government has taken responsibility for
the payment of the firm's debts.  Radio Jamaica has said that to
date, the five sugar factories have incurred J$3 billion in
debts.




===========
M E X I C O
===========


AMSCAN HOLDINGS: S&P's Holds BB- Rating on US$250-Mil. Credit
-------------------------------------------------------------
Standard & Poor's Ratings Services has stated that its bank loan
ratings on Elmsford, New York-based Amscan Holdings Inc.'s
proposed upsized US$250 million senior secured asset-based
revolving credit facility (US$109.7 million drawn, including
letters of credits at June 30, 2007) is unchanged at 'BB-', with
a recovery rating of '1' indicating high expectation for full
(100%) recovery in the event of a payment default.  "These
ratings factor the company's US$50 million add-on to the
existing asset-based facility," said S&P's credit analyst
Christopher Johnson.

The company's US$375 million senior secured term loan B is rated
'B' (the same as the corporate credit rating), with a recovery
rating of '3' indicating an expectation for meaningful (50%-80%)
recovery in the event of a payment default.  The issue-level
ratings are based on preliminary terms and are subject to review
upon final documentation.

The ratings on Amscan remain on CreditWatch, where they were
placed with negative implications on Sept. 18, 2007, following
the announcement that Amscan has entered into an agreement and
plan of merger with Factory Card & Party Outlet Corp.

Ratings List

Amscan Holdings Inc.

  -- Corporate Credit Rating         B/Watch Neg/--
     Senior Secured
  -- Local Currency                  BB-/Watch Neg
  -- Recovery Rating                 1
  -- Subordinated Notes              CCC+/Watch Neg

Headquartered in Elmsford, New York, Amscan Holdings Inc. makes
more than 400 specially designed ensembles of party accessories
and novelties, including balloons, invitations, pinatas,
stationery, and tableware.  Amscan sells to more than 40,000
retail outlets worldwide, mainly party goods superstores, mass
merchandisers, and other distributors.  Party City accounted for
about 13% of sales before the firm bought it in 2005.  Amscan
itself makes party items (which bring in about 60% of sales) and
buys the rest from other manufacturers, primarily in Asia.  It
has production and distribution facilities in Asia, Australia,
Europe, and North America.  Berkshire Partners and Weston
Presidio are Amscan's principal owners.  The company has a
wholly owned metallic balloon distribution operations located in
Mexico.


ATARI INC: Appoints Four Independent Board of Directors
-------------------------------------------------------
Atari, Inc., following the action taken by Infogrames
Entertainment, S.A. to remove certain members of Atari, Inc.'s
Board on Oct. 5, 2007, has announced:

-- The appointment of Wendell Adair, Eugene I. Davis, James B.
    Shein, and Bradley E. Scher as independent directors on its
    Board.  They will join Evence-Charles Coppee, Jean-Michel
    Perbet and Thomas Schmider as members of the Atari, Inc.
    Board.  Mr. Davis has been appointed the non-executive
    Chairman of the Board.  Messrs. Adair, Davis and Shein will
    serve on the Audit Committee of the Board, with Mr. Adair
    acting as Chair.  Messrs. Adair, Shein and Scher will serve
    on the Compensation and Governance Committee of the Board,
    with Mr. Shein acting as Chair and all four new Board
    members will serve on a Special Committee of the Board that
    will review related party transactions.

-- The appointment of Curtis G. Solsvig III as Chief
    Restructuring Officer.  Mr. Curtis G. Solsvig III works at
    AlixPartners, which has been retained to assist Atari, Inc.
    in evaluating and implementing strategic and tactical
    options through the restructuring process of Atari, Inc.

Mr. Wendell Adair is a senior lawyer with 35 years of experience
specializing in restructuring and corporate finance.  He held
previously Senior Partner positions at leading US law firms,
including Stroock, Stroock & Lavan and McDermott, Will & Emery.
He has previously served on the boards of companies as an
independent director and advised corporate boards with respect
to governance, fiduciary duty and financing matters.  Mr. Adair
was named as one of the "Top 100 Restructuring Professionals" in
the years 2000 to 2006.

Mr. Eugene I. Davis is the founder and chairman of the
consulting group Pirinate Consulting Group, LLC focused on
restructuring situations for middle market companies.  Prior to
this, Mr. Davis held positions of Chief Operating Officer at
Total-Tele USA and Chief Financial Officer at Emerson Radio.
Mr. Davis is a qualified lawyer and previously a partner at
Arter & Hadden.  Over the last 10 years he has worked on several
dozen restructuring situations, including high profile
restructurings such as those of Delta Air Lines and Atlas Air
Worldwide.  He has served as independent chairman of the board
or chairman of the audit committee for over fifteen companies.

Mr. James B. Shein is a professor of Management and Strategy at
the Kellogg School of Management of Northwestern University and
serves as Counsel at the law firm of McDermott Will and Emery
LLP.  Mr. Shein has over 30 years of experience working with
companies in management and planning initiatives and has served
as the Chief Executive Officer of several companies, including
Northbrook Corporation.  In addition, he previously held
educational and consulting positions in the areas of corporate
restructuring, strategy and organization.  He is a frequent
lecturer on corporate turnarounds, mergers and acquisitions and
asset protection and has previously served as an advisor to or
as a director and chair of the governance and compensation
committee of public and private companies.

Mr. Bradley E. Scher is a Managing Member of Ocean Ridge Capital
Advisors, LLC and has worked most of his career with distressed
companies or investment vehicles.  He has managed large
investment funds, advised on financings and evaluated borrower
situations in his management and/or advisory roles at companies
including Ocean Ridge Capital Advisors, PPM America, Teachers
Insurance and Annuity Association of America, The Travelers
Companies (Hartford), and Chemical Bank.  Mr. Scher has served
as an audit committee member and director for both private and
public entities.

Mr. Curtis G. Solsvig III is a Managing Director at
AlixPartners, and has extensive experience in restructuring and
managing companies in distressed circumstances.  He had been
most recently appointed as interim CEO of CornerStonePropane LP,
the fifth largest retail propane distributor.  He previously
founded Everett & Solsvig, a company specializing in turnaround
consulting and interim management.  He also worked at Alvarez &
Marsal and at the Boston Consulting Group in London and in New
York, assisting clients in the restructuring process and in
developing solutions to their strategic problems.  He has served
on the boards of a number of public and private companies.

                         About Atari

Headquartered in New York, Atari Incorporated, (NASDAQ: ATAR) -
http://www.atari.com/-- together with its subsidiaries,
publishes, develops, and distributes video game software in
North America.  It offers games for various platforms.  Its
portfolio of games includes action, adventure, strategy, role-
playing, and racing.  Atari distributes its video game software
in the United States, Canada, and Mexico through mass merchants,
retail outlets, online outlets, specialty retailers, and
distributors.  The company founded in 1992, was formerly known
as Infogrames Inc. and GT Interactive Software Corp.  It changed
its name to Atari Incorporated in 2003 and is a subsidiary of
France-based Infogrames Entertainment SA.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 28, 2007, New York-based Deloitte & Touche LLP expressed
substantial doubt about Atari Incorporated's ability to continue
as a going concern after auditing the company's consolidated
financial statements for the year ended Mar. 31, 2007.  The
auditing firm pointed to the company's significant operating
losses.

The company posted a US$69,711,000 net loss on US$122,285,000 of
total revenues for the year ended Mar. 31, 2007, as compared
with a US$68,986,000 net loss on US$206,796,000 of total revenue
in the prior year.  The company also posted an operating loss of
US$77,644,000 in fiscal 2007 as compared to a US$62,977,000 in
the prior year.

At Mar. 31, 2007, the company's balance sheet showed
US$42,819,000 in total assets and US$39,725,000 in total
liabilities, resulting in a US$3,094,000 stockholders' equity.


BAUSCH & LOMB: Moody's Withdraws Caa1 Ratings on PIK Notes
----------------------------------------------------------
Moody's Investors Service has withdrawn Bausch & Lomb
Incorporated's proposed Caa1 ratings for US$175 million PIK
notes and US$175 million senior subordinated notes.
Concurrently, Moody's affirmed the company's existing ratings.
The outlook for the proposed ratings remains stable.

Recently, Bausch & Lomb revised its capital structure by
increasing its proposed U.S. term loan by US$100 million to
US$1.2 billion and increasing its offering of proposed senior
unsecured notes to US$650 million from US$400 million.  As a
result, the company will not be issuing the proposed US$175
million senior PIK notes and the proposed US$175 million senior
subordinated notes.

Moody's continued the review for possible downgrade of Bausch &
Lomb Incorporated's (Oldco) existing ratings with the
expectation that they will be withdrawn at the close of the
transaction.

Ratings are subject to review of final documentation.

These ratings were withdrawn from Bausch & Lomb Incorporated
(Newco):

-- Caa1 rating (LGD5/86%) on US$175 million Senior Unsecured
    PIK Toggle Option Notes; and

-- Caa1 rating (LGD6/95%) on US$175 million Senior
    Subordinated Notes.

Bausch & Lomb Incorporated's (Newco) ratings were affirmed with
updated LGD assessments:

-- B2 Corporate Family Rating;

-- B2 Probability of Default Rating;

-- SGL-2 Speculative Grade Liquidity Rating;

-- B1 rating (to LGD3/36% from LGD3/35%) on a US$500 million
    Senior Secured Revolver;

-- B1 rating (to LGD3/36% from LGD3/35%) on a US$1,200 million
    U.S. Senior Secured Term Loan;

-- B1 rating (to LGD3/36% from LGD3/35%) on a US$300 million
    Delayed Draw Term Loan; and

-- Caa1 rating (to LGD5/89% from LGD5/86%) on US$650 million
    Senior Unsecured Notes.

Bausch & Lomb, B.V.'s ratings were affirmed with updated LGD
assessments:

-- B1 rating (to LGD3/36% from LGD3/35%) on a US$575 million
    European Senior Secured Term Loan.

The ratings related to Bausch & Lomb Incorporated (Oldco)
ratings remain on review for possible downgrade and will be
withdrawn at the close of the transaction.

Headquartered in Rochester, New York, Bausch & Lomb Inc. (NYSE:
BOL) -- http://www.bausch.com/-- develops, manufactures, and
markets eye health products, including contact lenses, contact
lens care solutions, and ophthalmic surgical and pharmaceutical
products.  The company is organized into three geographic
segments: the Americas; Europe, Middle East, and Africa; and
Asia (including operations in India, Australia, China, Hong
Kong, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan
and Thailand).  In Latin America, the company has operations in
Brazil and Mexico. In Europe, the company maintains operations
in Austria, Germany, the Netherlands, Spain, and the United
Kingdom.


BLOCKBUSTER INC: Names Eric Peterson EVP, Gen. Counsel & Sec.
--------------------------------------------------------------
Blockbuster Inc. has appointed Eric H. Peterson as Executive
Vice President, General Counsel and Secretary.

Most recently, Mr. Peterson was Executive Vice President and
General Counsel for the former TXU Corporation, a US$32 billion
Fortune 200 Dallas-based energy company.  He joined the energy
services company in 2002 as its first ever general counsel, was
responsible for the successful resolution of the company's
complex legal affairs in conjunction with its then European
operations and was an integral part of the executive management
team responsible for the company's turnaround.

Prior to TXU, Mr. Peterson served as general counsel for DTE
Energy, an US$8.6 billion publicly traded, integrated utility in
Detroit.  Before that he was a partner in the Texas-based law
firm, Worsham, Forsythe & Wooldridge LLP, now known as Hunton &
Williams, where in addition to practicing corporate law, he
served as a top legal advisor to TXU, the firm's largest client.

"Eric is an accomplished and skilled legal professional with an
extensive background in highly competitive, fast-moving
industries," said Jim Keyes, Blockbuster Chairman and Chief
Executive Officer.  "In addition to his considerable legal
expertise, he is a seasoned business executive who will
contribute significantly to our efforts to transform Blockbuster
into the most convenient source for media entertainment."

Mr. Peterson graduated cum laude and Phi Beta Kappa with a
Bachelor's degree from Southern Methodist University where he
also earned his law degree.  He received the "Best General
Counsel" award in 2004 from the Dallas Business Journal, is a
member of the SMU Corporate Counsel Symposium's Board of
Directors, and serves on numerous professional and non-profit
boards, including the United Way of Metropolitan Dallas.

                    About Blockbuster Inc.

Headquartered in Dallas, Texas, Blockbuster Inc. (NYSE: BBI,
BBI.B) -- http://www.blockbuster.com/-- provides in-home movie
and game entertainment, with more than 9,000 stores throughout
the Americas, Europe, Asia and Australia.  The company maintains
operations in Brazil, Mexico, Denmark, Italy, Taiwan, Australia,
among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 8, 2007, Moody's Investors Service downgraded Blockbuster
Inc.'s corporate family rating to Caa1, its senior secured
credit facilities to B3, and speculative grade liquidity rating
to SGL-4.  In addition, Moody's affirmed the senior subordinated
notes rating at Caa2.  Moody's said the rating outlook remains
negative.


COLLINS & AIKMAN: Continues Sale of 400 Patents Despite Closure
---------------------------------------------------------------
Collins & Aikman Corp. will continue to market around 400
remaining patents for sale despite disclosing that it will cease
operations, Jewel Gopwani at the Free Press reported.

The patents from Collins & Aikman's plastics business relate to
vehicle interior components, of which more than half are for
technology that has not made it into vehicles yet.

Collins & Aikman vice president of research and development, Jim
Dowd, along with consultants and a few Collins & Aikman
employees, will remain to find buyers and licenses to use the
technology.  According to Ms. Gopwani, the patents account for
US$150,000,000 the company spent in the last decade on new
technology.

The patents "will be sold at a substantially discounted price,"
Mr. Dowd said.  Proceeds from the sale will go to creditors.

Collins & Aikman is marketing the patents to companies in
Michigan and those considering Michigan, Ms. Gopwani related.
One of the company's patent consultants, Weston Anson, plans on
marketing the patents in China.

Gabe Fried, another patent consultant, said that along with the
product patent are other information, including books of data
and testing, and sources of materials and, in some cases, tools
to make prototypes.  "There is a lot of value here. . . It is
just a question of getting it into the hands of the right
people," he said.

                     About Collins & Aikman

Headquartered in Troy, Mich., Collins & Aikman Corporation
-- http://www.collinsaikman.com/-- is a global leader in
cockpit modules and automotive floor and acoustic systems and is
a leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of approximately 23,000 and a network of more
than 100 technical centers, sales offices and manufacturing
sites in 17 countries throughout the world.  The Company
operates in Latin America through its facilities in Mexico.
The Company and its debtor-affiliates filed for chapter 11
protection on May 17, 2005 (Bankr. E.D. Mich. Case No.
05-55927).  Richard M. Cieri, Esq., at Kirkland & Ellis LLP,
represents C&A in its restructuring.  Lazard Freres & Co., LLC,
provides the Debtors with investment banking services.   Michael
S. Stammer, Esq., at Akin Gump Strauss Hauer & Feld LLP,
represents the Official Committee of Unsecured Creditors
Committee.  When the Debtors filed for protection from their
creditors, they listed US$3,196,700,000 in total assets and
US$2,856,600,000 in total debts.

On Aug. 30, 2006, the Debtors filed a Joint Chapter 11 Plan and
a Disclosure Statement explaining that plan.  On Dec. 22, 2006,
they filed an Amended Plan and on Jan. 22, 2007, filed a
modified Amended Plan.  On Jan. 25, 2007, the Court approved the
adequacy of the Disclosure Statement.  On July 18, 2007, the
Court confirmed the Debtors' Liquidation Plan.  The Debtors'
cases are set to be closed on Feb. 28, 2008.  (Collins & Aikman
Bankruptcy News, Issue No. 77; Bankruptcy Creditors' Service
Inc.; http://bankrupt.com/newsstand/or 215/945-7000)


COLLINS & AIKMAN: Joint Amended Plan Effective as of October 12
---------------------------------------------------------------
Collins & Aikman Corporation and its debtor-affiliates has
notified the U.S. Bankruptcy Court for the Eastern District of
Michigan that the effective date of their Plan was
Oct. 12, 2007.  The effective date comes about three months
since the Debtors obtained confirmation of their Amended Joint
Plan on July 18, 2007.

Pursuant to the Plan, on the Effective Date, all of the Debtors'
assets that were not divested before the Effective Date or
transferred to the Litigation Trust or the applicable Residual
Trust were transferred to the Post-Consummation Trust.

Except for an executory contract or unexpired lease that was
previously assumed, assumed and assigned, or rejected by Court
order with an effective date of the rejection on or before the
Effective Date or that is assumed pursuant to Article V.A of the
Plan or was assumed in the Confirmation Order, each executory
contract and unexpired lease entered into by a Debtor before
filing for bankruptcy is deemed rejected pursuant to Section 365
of the Bankruptcy Code, as of the Effective Date or the date of
rejection.

According to Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in
New York, if the rejection of an executory contract or unexpired
lease gives rise to a claim by the other party or parties to the
contract or lease, the Claim will be forever barred and will not
be enforceable against the Debtors, the Trusts, their respective
successors or their respective properties unless a proof of
claim is filed with the Court and served on the Post-
Consummation Trust no later than (i) Nov. 12, 2007, or (ii) if
the date of rejection is after the Effective Date, 30 days after
the date of rejection.

Unless previously filed with the Court, requests for payment of
administrative claims that arise on or before the Effective Date
must be filed with the Court and served on the Post-Consummation
Trust no later than Nov. 12, 2007.

Holders of Administrative Claims that are required to file and
serve a request for payment of the Administrative Claim and do
not file and serve a request by the applicable bar date will be
forever barred from asserting the Administrative Claim against
the Debtors, the Post-Consummation Trust, the Litigation Trust
or their property, and the Administrative Claims will be deemed
discharged as of the Effective Date.

Professionals or other persons asserting a fee claim for
services rendered before the Effective Date must file and serve
an application for final allowance of the Fee Claim no later
than Nov. 12, 2007.

Any professional who may receive compensation or reimbursement
of expenses pursuant to the Ordinary Course Professional Order
may continue to receive compensation and reimbursement of
expenses for services rendered before the Effective Date,
without further review of or approval by the Court.  Any
professional that is entitled, pursuant to the Plan or Court
order, to receive payment from the Estates for fees and expenses
incurred after the Effective Date in connection with the
Debtors' Chapter 11 cases may be compensated by the Post-
Consummation Trust without further application to the Court.

Objections to any Fee Claim must be filed with the Court and
served on the Post-Consummation Trust and the requesting party
by the later of Dec. 12, 2007, and 30 days after the filing of
the payment request.

Mr. Schrock states that distributions to holders of allowed
claims will be made in accordance with the terms of Article VI
of the Plan and the Confirmation Order.

                   About Collins & Aikman

Headquartered in Troy, Mich., Collins & Aikman Corporation --
http://www.collinsaikman.com/-- is a global leader in cockpit
modules and automotive floor and acoustic systems and is a
leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of approximately 23,000 and a network of more
than 100 technical centers, sales offices and manufacturing
sites in 17 countries throughout the world.  The Company
operates in Latin America through its facilities in Mexico.  The
Company and its debtor-affiliates filed for chapter 11
protection on May 17, 2005 (Bankr. E.D. Mich. Case No.
05-55927).  Richard M. Cieri, Esq., at Kirkland & Ellis LLP,
represents C&A in its restructuring.  Lazard Freres & Co., LLC,
provides the Debtors with investment banking services.   Michael
S. Stammer, Esq., at Akin Gump Strauss Hauer & Feld LLP,
represents the Official Committee of Unsecured Creditors
Committee.  When the Debtors filed for protection from their
creditors, they listed US$3,196,700,000 in total assets and
US$2,856,600,000 in total debts.

On Aug. 30, 2006, the Debtors filed a Joint Chapter 11 Plan and
a Disclosure Statement explaining that plan.  On Dec. 22, 2006,
they filed an Amended Plan and on Jan. 22, 2007, filed a
modified Amended Plan.  On Jan. 25, 2007, the Court approved the
adequacy of the Disclosure Statement.  On July 18, 2007, the
Court confirmed the Debtors' Liquidation Plan.  The Debtors'
cases are set to be closed on Feb. 28, 2008.  (Collins & Aikman
Bankruptcy News, Issue No. 77; Bankruptcy Creditors' Service
Inc.; http://bankrupt.com/newsstand/or 215/945-7000)


COLLINS & AIKMAN: Shuts Down Operations After Asset Sale
--------------------------------------------------------
David N. Goodman of the Associated Press reports that Collins &
Aikman Corporation is closing after completing the sale of its
last major operations to a private equity group, International
Automotive Components, led by Wilbur Ross.

IAC is 75% owned by WL Ross & Co. LLC and by Franklin Mutual
Advisers LLC.  Lear Corp. owns 25% of IAC.

Mr. Goodman relates that Collins became troubled under the
leadership of former President Ronald Reagan administration
budget director, David Stockman, "who took it on an expansion
drive on the eve of a big downturn in the U.S. auto industry."
Mr. Stockman has been accused of lying to investors about the
company's financial condition and is awaiting trial.

IAC recently completed its acquisition of Collins' soft trim
operations, which has been operating under Chapter 11 bankruptcy
protection for two years, Mr. Goodman says.  IAC's acquisitions
include 16 North American plants that manufacture carpeting,
molded floors, dashboard parts and other interior vehicle
components.

According to Mr. Goodman, neither company disclosed the sale
price, but it was listed as US$134,000,000 in regulatory
proceedings before the European Commission.

The 116-year-old Collins was a top supplier to the "Detroit
Three" automakers.  It once manufactured parts for almost every
car built in the United States.

                    About Collins & Aikman

Headquartered in Troy, Mich., Collins & Aikman Corporation --
http://www.collinsaikman.com/-- is a global leader in cockpit
modules and automotive floor and acoustic systems and is a
leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of approximately 23,000 and a network of more
than 100 technical centers, sales offices and manufacturing
sites in 17 countries throughout the world.  The Company
operates in Latin America through its facilities in Mexico.  The
Company and its debtor-affiliates filed for chapter 11
protection on May 17, 2005 (Bankr. E.D. Mich. Case No.
05-55927).  Richard M. Cieri, Esq., at Kirkland & Ellis LLP,
represents C&A in its restructuring.  Lazard Freres & Co., LLC,
provides the Debtors with investment banking services.   Michael
S. Stammer, Esq., at Akin Gump Strauss Hauer & Feld LLP,
represents the Official Committee of Unsecured Creditors
Committee.  When the Debtors filed for protection from their
creditors, they listed US$3,196,700,000 in total assets and
US$2,856,600,000 in total debts.

On Aug. 30, 2006, the Debtors filed a Joint Chapter 11 Plan and
a Disclosure Statement explaining that plan.  On Dec. 22, 2006,
they filed an Amended Plan and on Jan. 22, 2007, filed a
modified Amended Plan.  On Jan. 25, 2007, the Court approved the
adequacy of the Disclosure Statement.  On July 18, 2007, the
Court confirmed the Debtors' Liquidation Plan.  The Debtors'
cases are set to be closed on Feb. 28, 2008.  (Collins & Aikman
Bankruptcy News, Issue No. 77; Bankruptcy Creditors' Service
Inc.; http://bankrupt.com/newsstand/or 215/945-7000)


FIRST DATA: Moody's Puts B3 Rating on US$3.75B Sr. Unsec. Notes
---------------------------------------------------------------
Moody's Investors Service has assigned a B3 rating to First Data
Corporation's US$3.75 billion senior unsecured cash pay notes,
the proceeds of which will be used to permanently finance a
portion of its leveraged buyout by Kohlberg, Kravis, Roberts &
Co. -- KKR, which closed on Sept. 24, 2007.  The ratings are
subject to Moody's review of final documentation.  The rating
outlook for First Data is stable.

The total LBO transaction value is approximately US$29 billion.
Financing for the transaction includes US$1 billion of Holdings
senior PIK notes (3.4% of proposed financing sources), and
US$6.4 billion of common equity contributed by equity sponsor
KKR (21.7%).  The company has committed bridge financing for all
unsold debt instruments.

The B2 Corporate Family Rating is constrained by considerable
financial leverage pro forma for the buyout (pro forma debt to
EBITDA approximates 9.0 and reflects an expectation that credit
metrics, including free cash flow to debt, will remain weak for
at least eighteen months following the transaction's close.  The
main factors that help mitigate the company's high leverage are
FDC's large size, service breadth, liquidity, and leading market
positions in the steadily growing markets of electronic commerce
and payment solutions for financial institutions, merchants, and
other organizations worldwide.

The company's corporate family rating, pro forma for the
anticipated financial leverage of the buyout, is weakly
positioned in the B2 category because of its high debt burden.
The rating assumes free cash flow to debt of less than 1% and
EBITDA less capital expenditures interest coverage of about 1.1
(including PIK interest) during the twelve months that follow
the acquisition's close.  First Data has targeted certain
initiatives that are underway to improve its cost structure and
exit its official check and money order processing business.
The cost savings initiatives include efforts to reduce corporate
overhead spending, streamline business unit costs, consolidate
data and command centers, and capitalize on global labor
sourcing opportunities.  The B2 rating assumes these initiatives
will generate at least US$150 million of near-term savings by
the end of 2008.

With respect to liquidity, the company is expected to have near
full availability under its US$2 billion senior secured revolver
(about US$200 million drawn at the LBO's closing and less than
US$100 million incremental draws in the twelve months subsequent
to closing) and will have over US$500 million of available cash
on hand.  The senior secured credit facilities have a debt to
EBITDA financial maintenance covenant, which Moody's views as
providing a substantial cushion, set at a ratio of 7.25 senior
debt to EBITDA, to be first tested on a quarterly basis for the
fourth quarter of 2008. This test ratio then steps down by 0.25
each year thereafter to 6.0 at December 2013.  The company is
expected to generate at least modest free cash flow by the end
of 2008.

The B3 rating on the company's US$3.75 billion senior unsecured
cash pay notes, one notch below the Corporate Family Rating,
reflects a loss given default of LGD 5 (77%).

The stable rating outlook reflects Moody's expectation that the
company will achieve moderate organic revenue growth and EBITDA
improvement over the next 12-18 months.  Cash flow, financial
leverage, and interest coverage are expected to remain weak for
the rating category during this period.  Given the weak pro
forma credit metrics, a moderate decline in profitability could
put downward pressure on the ratings.  Downward ratings pressure
could also occur were Moody's to expect the company's free cash
flow to be negative on a sustained twelve month basis.  Weak
credit metrics make an upgrade unlikely in the near term.  Over
the intermediate term, the ratings could be upgraded were FDC to
achieve favorable revenue and profit growth and debt reduction,
and if free cash flow to debt were to be sustained in the mid
single digits or higher.

These ratings were assigned:

   -- US$3.75 billion senior unsecured cash pay notes (due 2015)
   -- B3, LGD 5 (77%)

First Data Corp. (NYSE: FDC) -- http://www.firstdata.com/--
provides electronic commerce and payment solutions for
businesses worldwide, including those in New Zealand, the
Netherlands and Mexico.  The company's portfolio of services and
solutions includes merchant transaction processing services;
credit, debit, private-label, gift, payroll and other prepaid
card offerings; fraud protection and authentication solutions;
receivables management solutions; electronic check acceptance
services through TeleCheck; as well as Internet commerce and
mobile payment solutions.  The company's STAR Network offers
PIN-secured debit acceptance at 2 million ATM and retail
locations.


FIRST DATA: Opens New Merchant Acquiring Business in Canada
-----------------------------------------------------------
First Data Corp. has launched a new merchant acquiring business
called POSNETTM to serve merchants of all sizes in Canada.

POSNET offers a complete range of innovative payment processing
services, which allow Canadian merchants the ability to accept
all forms of payment including credit cards, debit cards and
gift cards.  In addition, POSNET offers:

   * POS solutions;
   * internet and emerging payments;
   * authorization, settlement and reconciliation;
   * chargeback administration;
   * fraud prevention;
   * reporting and equipment management and
   * customer service.

"At POSNET, we have a solid strategy for success by offering a
comprehensive suite of products and services that allow our
merchant clients to easily and securely accept a wide range of
payments," said Wayne Clarke, Senior Vice President, Latin
America and Canada, First Data International.  "POSNET
distinguishes itself by providing enhanced functionality with an
expanded point-of-sale product set that includes EMV/chip card
acceptance.  With Canada moving toward increased EMV/chip card
usage, POSNET is prepared to ensure merchants experience a
smooth and easy transition."

"POSNET has a deep understanding of the Canadian business
processes and regulatory environment, and will build a
foundation of trust with its merchants by delivering highly
reliable and secure systems," said Peter Harrington, President,
Latin America and Canada, First Data International.  "With over
30 years of powering billions of transactions around the world,
First Data is well positioned to grow POSNET into a market
leader across this rapidly expanding payments market."

First Data also has a merchant acquiring business in Argentina
and Uruguay named POSNET.  It will continue to expand this
business across the region and offer the local merchant
community a competitive choice for reliable, secure and flexible
electronic payment services.

                       About First Data

First Data Corp. (NYSE: FDC) -- http://www.firstdata.com/--
provides  electronic commerce and payment solutions for
businesses worldwide, including those in New Zealand, the
Netherlands and Mexico.  The company's portfolio of services and
solutions includes merchant transaction processing services;
credit, debit, private-label, gift, payroll and other prepaid
card offerings; fraud protection and authentication solutions;
receivables management solutions; electronic check acceptance
services through TeleCheck; as well as Internet commerce and
mobile payment solutions.  The company's STAR Network offers
PIN-secured debit acceptance at 2 million ATM and retail
locations.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 17, 2007, Fitch Ratings has assigned a 'B-' rating to First
Data Corp.'s proposed US$2 billion senior unsecured notes due
2015 offering.

As reported in the Troubled Company Reporter-Latin America on
Sept. 19, 2007, Moody's Investors Service has assigned these
ratings:

   -- Corporate Family Rating - B2

   -- US$2 billion senior secured revolving credit facility
      (expires 2013) - Ba3, LGD2 (27%)

   -- US$13 billion senior secured Term Loan B (due 2014) - Ba3,
      LGD2 (27%).


MOVIE GALLERY: Case Summary & 30 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Movie Gallery, Inc.
        fdba Game Crazy
        fdba M.G. Midwest
        fdba Moovies, Inc.
        fdba Movie Gallery Asset Management, Inc.
        fdba Video Library, Inc.
        900 West Main Street
        Dothan, AL 36301

Bankruptcy Case No.: 07-33849

Debtor-affiliates filing separate Chapter 11 petitions:

      Entity                                   Case No.
      ------                                   --------
      Hollywood Entertainment Corporation      07-33848
      M.G. Digital, LLC                        07-33850
      M.G.A. Realty I, LLC                     07-33851
      MG Automation LLC                        07-33852
      Movie Gallery US, LLC                    07-33853

Type of Business: The Debtor group currently owns and operates
                  approximately 4,600 retail stores located
                  throughout North America that rent and sell
                  DVDs, video cassettes and video games.  The
                  group is the second largest North American
                  home entertainment specialty retailer focusing
                  on urban, rural and suburban markets.
                  See http://www.moviegallery.com/

Chapter 11 Petition Date: October 16, 2007

Court: Eastern District of Virginia (Richmond)

Debtors' Counsel: Anup Sathy, Esq.
                  Marc J. Carmel, Esq.
                  Kirkland & Ellis LLP
                  200 East Randolph Drive
                  Chicago, IL 60601-6636
                  Tel: (312) 861-2000
                  Fax: (312) 861-2200

                        -- and --

                  Richard M. Cieri, Esq.
                  Kirkland & Ellis LLP
                  Citigroup Center
                  153 East 53rd Street
                  New York, NY 10022-4611
                  Tel: (212) 446-4800
                  Fax: (212) 446-4900
                  http://www.kirkland.com/

Debtors'
Local Counsel:    Michael A. Condyles, Esq.
                  Peter J. Barrett, Esq.
                  Kutak Rock LLP
                  Suite 800, Bank of America Center
                  1111 East Main Street
                  Richmond, VA 23219-3500
                  Tel: (804) 644-1700
                  Fax: (804) 783-6192
                  http://www.kutakrock.com/

Debtors' Claims &
Balloting Agent:  Kurtzman Carson Consultants LLC
                  2335 Alaska Avenue
                  El Segundo, CA 90245
                  Tel: (866) 381-9100
                  Fax: (310) 823-9133
                  http://www.kccllc.com/

Debtors' consolidated financial condition as of July 1, 2007:

   Total Assets:  US$891,993,000

   Total Debts:  US$1,419,215,000

Debtors' Consolidated list of their 30 Largest Unsecured
Creditors:

   Entity                        Nature of Claim    Claim Amount
   ------                        ---------------    ------------
U.S. Bank Corporate Trust        bond             US$322,419,999
Services,
E.X.G.A.-A.T.P.T.
1349 Peachtree Street,
Suite 1050
Atlanta, GA 30309
Attention: Jack Ellerin
U.S. Bank Corporate Trust
Services,
E.X.G.A.-A.T.P.T.
1349 Peachtree Street,
Suite 1050
Atlanta, GA 30309
Tel: (404) 898-8830
Fax: (404) 898-8844

Paramount Home Video             trade             US$11,198,737
5555 Melrose Avenue
Hollywood, CA 90038
Attention: Andi Marygold
Paramount Home Video
5555 Melrose Avenue
Hollywood, CA 90038
Tel: (323) 956-5489
Fax: (323) 862-1183

Sony Pictures Home               trade             US$10,954,171
Entertainment
10202 West Washington
Boulevard, Suite 2400
Culver City, CA 90232
Attention: Grace Aprilia
Sony Pictures Home
Entertainment
10202 West Washington
Boulevard, Suite 2400
Culver City, CA 90232
Tel: (310) 244-8485
Fax: (310) 244-2626

Twentieth Century Fox Home       trade              US$7,591,134
Entertainment
2121 Avenue of the Stars,
Suite 2500
Los Angeles, CA 90067-5049
Attention: Laura Cook,
General Counsel
Twentieth Century Fox Home
Entertainment
2121 Avenue of the Stars,
Suite 2500
Los Angeles, CA 90067-5049
Tel: (310) 369-3900
Fax: (310) 369-5262

Warner Home Video                trade              US$6,897,627
3400 Riverside Drive,
Building 160
Burbank, CA 91505
Attention: Jacob Marlen &
Laura Bermudez
Warner Home Video
3400 Riverside Drive,
Building 160
Burbank, CA 91505

Universal Studios Home           trade              US$5,052,179
Entertainment
10 Universal City Plaza,
Fourth Floor,
Universal City, CA 91608
Attention: Janice Sasaki
Universal Studios Home
Entertainment
10 Universal City Plaza,
Fourth Floor,
Universal City, CA 91608
Tel: (818) 777-5159
Fax: (818) 866-3330

V.P.D., Inc.                     trade              US$3,672,022
150 PArk Shore Drive
Folsom, CA 95630
Attention: David Sedin
V.P.D., Inc.                     trade              US$3,672,022
150 PArk Shore Drive
Folsom, CA 95630
Tel: (916) 605-1540
Fax: (916) 605-1679

Lions Gate Entertainment         trade              US$2,252,918
2700 Colorado Avenue,
Second Floor
Santa Monica, CA 90404
Attention: Brian John
Lions Gate Entertainment
2700 Colorado Avenue,
Second Floor
Santa Monica, CA 90404

First Look Home Entertainment    trade              US$1,000,754
2000 Avenue of the Stars,
Suite 410
Los Angeles, CA 90067

Banta Direct Marketing Group     trade                US$821,546
Corporate Headquarters
2075 Busse Road
Elk Grove, IL 60007-5738;
R.R. Donnelly Legal
Department
111 South Wacker Drive
Chicago, IL 60606
Attention: Jim Cyze,
President
Banta Direct Marketing Group
Corporate Headquarters
2075 Busse Road
Elk Grove, IL 60007-5738
Tel: (847) 593-1200
Fax: (847) 593-0729

The Brualdi Law Firm             litigation           US$700,000
29 Broadway, Suite 2400          settlement
New York, NY 10022;
Lerach, Couglin, Stoia,
Geller, Geller, Rudman &
Robbins, L.L.P.
655 West Broadway, Suite 1900
San Diego, CA 92101
Attention: Richard B. Brualdi
The Brualdi Law Firm
29 Broadway, Suite 2400
New York, NY 10022
Tel: (212) 952-0602
Fax: (212) 952-0608
Attention: A. Rick Atwood
Lerach, Couglin, Stoia,
Geller, Geller, Rudman &
Robbins, L.L.P.
655 West Broadway, Suite 1900
San Diego, CA 92101
Tel: (619) 231-1058
Fax: (619) 231-7423

B.N.Y. Western Trust Co.         bond                 US$450,000
550 Kearney Street,
Suite 600
San Francisco, CA 94108
Attention: Corporate
Trust Department
B.N.Y. Western Trust Co.
550 Kearney Street,
Suite 600
San Francisco, CA 94108
Tel: (415) 263-2000
Fax: (415) 399-1647

Random House, Inc.               trade                US$419,025
1745 Broadway
New York, NY 10019
Attention: General Counsel
or Officer
Random House, Inc.
1745 Broadway
New York, NY 10019
Tel: (212) 782-9000
Fax: (212) 940-7381

O.R.I.X. Commercial Finance,     litigation           US$400,000
L.L.C. (successor in interest
to O.R.I.X. Financial
Services, Inc.)
c/o Gebhardt & Smith, L.L.P.
One South Street, Suite 2200
Baltimore, MD 21202
Attention: Michael D. Nord
O.R.I.X. Commercial Finance,
L.L.C. (successor in interest
to O.R.I.X. Financial
Services, Inc.)
c/o Gebhardt & Smith, L.L.P.
One South Street, Suite 2200
Baltimore, MD 21202
Tel: (410) 752-5830
Fax: (410) 385-5119

Realty Income Corp.              trade                US$359,732
220 West Crest Street
Escondido, CA 92025
Attention: Thomas A. Lewis,
Chief Executive Officer
Realty Income Corp.
220 West Crest Street
Escondido, CA 92025
Tel: (760) 741-2111
Fax: (760) 741-2235

Emdeon Business Services         trade                US$322,469
26 Century Boulevard,
Suite 601
Nashville, TN 37214
Attention: General Counsel
or Officer
Emdeon Business Services
26 Century Boulevard,
Suite 601
Nashville, TN 37214
Tel: (615) 886-9000
Fax: (615) 231-4965

Inland Commercial Property       trade                US$311,231
2901 Butterfield Road
Oak Brook, IL 60523
Attention: Janice J. Fox
Inland Commercial Property
2901 Butterfield Road
Oak Brook, IL 60523
Tel: (630) 218-5262
Fax: (630) 218-4900

Coyle Reproductions              Trade                US$307,238
14949 Firestone Boulevard
La Mirada, CA 90638
Tel: (714) 690-8200
Fax: (714) 690-8220
Attn: Frank T. Cutrone, Jr.
Chief Executive Officer

Pepsi-Chicago                    Trade                US$286,154
1400 West 35th Street
Chicago, IL 60609
Tel: (773) 893-2300
Fax: (773) 893-2306
Attn: Claims Department

Westcott Group Inc.              Trade                US$262,492
2346 South Lynhurst Drive
Suite 206
Indianapolis, IN 46241
Tel: (484-1362
Fax: (317) 484-1369
Attn: Rich Westcott or Bob Sapp

Starz Entertainment, LLC         Trade                US$219,699
8900 Liberty Circle
Englewood, CO 80112
Tel: (720) 852-7700
Fax: (720) 852-8555
Attn: General Counsel or Officer

Anchor Bay Entertainment, Inc.
1699 Stutz Drive
Troy, MI 48084
Tel: (248) 816-0909
Fax: (248) 816-3335
Attn: General Counsel or Officer

Waste Management, Inc.           Trade                US$199,296
1001 Fannin, Suite 4000
Houston, TX 77002
Tel: (713) 512-6200
Fax: (713) 512-6299
Attn: General Counsel or Officer

Universal Music                  Trade                US$192,038
Group Distribution
1755 Broadway
New York, NY 10019
Tel: (212) 841-8000
Fax: (212) 331-2580
Attn: General Counsel or Officer

Coca Cola Enterprises, Inc.      Trade                US$183,426
2500Windy Ridge Parkway
Atlanta, GA 30339
Tel: (770) 989-3323
Fax: (770) 989-3619
Attn: Alex Diaz, General Counsel

Southern Development of MS, Inc. Trade                US$177,472
40 Deep South Lane
Purvis, MS 39475
Tel: (601) 794-2253
Fax: (601) 794-5468
Attn: General Counsel or Officer

Matrix Telecom                   Trade                US$174,804
2207 Commerce Street
Dallas, TX 75001
Tel: (214) 432-1447
Fax: (214) 432-1576
Attn: General Counsel or Officer

WYF Properties, LLC              Trade                US$170,118
4949 Southwest Meadows Road
Lake Oswego, OR 97035
Tel: (503) 644-9400
Fax: (503) 520-9400
Attn: General Counsel or Officer

Kronos, Inc.                     Trade                US$170,016
297 Billerica Road
Chelmsford, MA 01824
Tel: (978) 250-9800
Fax: (978) 367-5900
Attn: General Counsel or Officer

Fred Meyer Stores                Trade                US$162,739
3800 Southeast 22nd Avenue
Portland, OR 97202
Tel: (503) 232-8844
Fax: (503) 797-5609
Attn: Michael Ellis, President

Magnolia Home Entertainment      Trade                US$161,491
49 West 27th Street, 7th Floor
New York, NY 10001
Tel: (212) 924-6701
Fax: (212) 924-6742
Attn: Randy Wells


MOVIE GALLERY: Gets Interim Approval on US$140MM DIP Financing
--------------------------------------------------------------
Movie Gallery, Inc. disclosed the approval of all of its "first
day" motions by the U.S. Bankruptcy Court for the Eastern
District of Virginia, Richmond Division.  Movie Gallery's
Canadian operations were not included in the filing.  The
company received interim Court approval to access US$140 million
of its US$150 million debtor in possession financing facility,
provided by certain of its existing first lien lenders.  The DIP
financing and cash generated from daily operations will be used
to continue to pay vendors and employees, as well as provide
operational and financial stability as Movie Gallery proceeds
with its financial restructuring.  The final DIP hearing is
scheduled for Nov. 6, 2007.

The company received Court approval during its first day
hearings to, among other things, pay prepetition employee wages,
health benefits, and other employee obligations during its
restructuring under Chapter 11.  The company is authorized to
pay ordinary course postpetition expenses without seeking Court
approval.  Additionally, the company was also given approval to
continue to honor its current customer policies regarding
merchandise returns and to honor outstanding gift cards and
loyalty programs.

"We are pleased with the prompt action by the Bankruptcy Court
in approving our first day motions," Joe Malugen, Movie
Gallery's Chief Executive Officer, said.  "This approval will
allow our stores to continue to operate so that we can continue
to serve our customers while implementing strategies to enhance
our financial performance."

In conjunction with the Chapter 11 filing, the company sought
approval to enter into a US$150 million debtor-in-possession
financing agreement arranged by Goldman Sachs Credit Partners.
The DIP financing will be used to provide up to US$50 million of
incremental liquidity in the form of a new revolving loan, in
addition to a letter of credit facility and a US$100 million
term loan.  The DIP financing will be made available to
refinance the company's existing revolving credit facility at a
lower interest rate and provide the company with additional
working capital.

Movie Gallery had asked the Court for additional authorizations,
including permission to continue paying employee wages and
salaries and to provide employee benefits without interruption.

During the Chapter 11 process, vendors should expect to be paid
for post-petition purchases of goods and services in the
ordinary course of business. The Company has also asked for
Court permission to continue to honor its current customer
policies regarding merchandise returns and outstanding gift
cards and customer loyalty programs so that the Chapter 11
process will not impact the Company's customers.

"I would like to thank our customers and vendors for their
continued support during this process," Joe Malugen, Chairman,
President and Chief Executive Officer of Movie Gallery, said.
"We also appreciate the ongoing loyalty and support of our
employees, whose dedication and hard work are critical to our
success and to the future of the company.  Our management team
is committed to making this financial restructuring successful
and leading Movie Gallery toward a bright future."

                   About Movie Gallery Inc.

Headquartered in Dothan, Alabama, Movie Gallery Inc. (Nasdaq:
MOVI) -- http://www.moviegallery.com/-- is a North American
video rental company with more than 4,550 stores located
in all 50 U.S. states and Canada operating under the brands
Movie Gallery, Hollywood Video and Game Crazy.  The Game Crazy
brand represents 606 in-store departments and 14 free-standing
stores serving the game market in urban locations across the
Untied States.  Since Movie Gallery's initial public offering in
August 1994, the company has grown from 97 stores to its present
size through acquisitions and new store openings.  It operates
over 4,600 stores in the United States, Canada, and Mexico under
the Movie Gallery, Hollywood Entertainment, Game Crazy, and VHQ
banners.

MOVIE GALLERY: Bankruptcy Filing Results to S&P's D Rating
----------------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on Movie
Gallery Inc.'s first-lien and senior unsecured debt ratings to
'D' from 'CC'.  This action follows the company's filing for
protection under Chapter 11 of the Bankruptcy Code.

S&P had previously lowered the corporate credit and second-lien
term loan ratings to 'D' when the company failed to make the
required interest payment on the second-lien term loan.  S&P
maintain a recovery rating of '4', indicating average (30%-50%)
recovery prospects, on the first-lien term loan, revolving
credit facility, and synthetic LOC facility.  The second-lien
term loan's recovery rating of '6', indicating negligible (0%-
10%) recovery prospects, is also unchanged.  Movie Gallery's
Canadian subsidiary was not a part of the filing and will
continue operating outside of the Chapter 11 cases.

Headquartered in Dothan, Alabama, Movie Gallery Inc. (Nasdaq:
MOVI) -- http://www.moviegallery.com/-- is a North American
video rental company with more than 4,550 stores located in all
50 U.S. states and Canada operating under the brands Movie
Gallery, Hollywood Video and Game Crazy.  The Game Crazy brand
represents 606 in-store departments and 14 free-standing stores
serving the game market in urban locations across the Untied
States.  Since Movie Gallery's initial public offering in August
1994, the company has grown from 97 stores to its present size
through acquisitions and new store openings.  It operates over
4,600 stores in the United States, Canada, and Mexico under the
Movie Gallery, Hollywood Entertainment, Game Crazy, and VHQ
banners.


OPEN TEXT: RedDot Extends Partnership with Infused Solutions
-------------------------------------------------------------
Open Text(TM) Corporation's unit RedDot has partnered with
Infused Solutions, a Virginia-based systems integrator
specializing in Web solutions for institutions of higher
education.  This extended partnership with Infused Solutions is
part of the company's commitment to enhancing and expanding the
reach and capabilities of its partners by introducing other
products and solutions available from the Open Text portfolio.
An Open Text partner since 2005, Infused Solutions will resell
RedDot software.

To support this partnership, arrangements have been finalized
with the Virginia Association of State College and University
Purchasing Professionals (VASCUPP) to provide RedDot Web content
management and delivery software and services to the
Commonwealth of Virginia public institutions of higher
education.  This partnership provides these institutions with
the ability to leverage academic pricing for RedDot software and
services.

Virginia Commonwealth University and Longwood University have
selected Infused Solutions to implement RedDot Content
Management to manage new Web, intranet and extranet sites.

Quick to implement and offering legendary ease-of-use, RedDot
Web content management and targeted delivery solutions allow
Infused Solutions' teams to quickly and easily build Web,
intranet and extranet sites for their higher education clients.

"Proven, high value solutions that are easy to implement, and
provide reliability and scalability are exactly what colleges
and universities need," said Marlon Johnson, President and Chief
Executive Officer of Infused Solutions.  "With RedDot, Infused
will deliver Web sites, intranets and extranets that offer
prospective students, students, educators and administers the
information they need when they need it."

"There has been an increasing demand for RedDot products and
services from higher education institutions over the past 18
months and with this new partnership, we'll be able to extend
our reach with more trained experts," said Detlef Kamps, General
Manager for RedDot North America.  "The RedDot partnership with
Infused Solutions combined with the VASCUPP arrangement will
provide a terrific new opportunity for Virginia public
institutions of higher education."

       About RedDot, The Open Text Web Solutions Group

RedDot -- http://www.reddot.com/--,The Open Text Web Solutions
Group with more than a decade of experience in Web Content
Management (WCM), provides Web-Centric ECM solutions to create,
manage and deliver the content that drives business.  RedDot
content management and delivery solutions are recognized
throughout the industry for their legendary ease of use and
feature leading multilingual support; enterprise Web 2.0
capabilities; content integration; and contextualized delivery.
From midmarket to enterprise, more than 2600 clients around the
world rely on RedDot to create, manage and deliver personalized
Web experiences for their intranets, extranets and Web sites.

                        About Infused

Infused Solutions uses a client-centric approach to address a
business's IT needs by analyzing, developing, and delivering
customized solutions that will streamline and simplify content,
document, and record management.  Infused Solutions provides
services that will enable enterprise content management to be
more efficient by working seamlessly with the essential process
models and workflows of a business.  Infused focuses on the
specific needs of a client to provide technologically advanced
solutions for the creation, management, and delivery of
enterprise content.  Infused partners with many client's content
management and delivery needs.

                       About Open Text

Headquartered in Waterloo, Ontario, Open Text Corp. (NASDAQ:
OTEX, TSX: OTC) -- http://www.opentext.com/-- provides
Enterprise Content Management solutions that bring together
people, processes and information in global organizations.  The
company supports approximately 20 million seats across 13,000
deployments in 114 countries and 12 languages worldwide.  It has
a field office in Mexico.

                        *     *     *

As reported in the Troubled Company Reporter on Sept. 20, 2006,
Standard & Poor's Ratings Services assigned its 'BB-' long-term
corporate credit rating to enterprise software provider, Open
Text Corp.

At the same time, S&P assigned its 'BB-' bank loan rating, with
a recovery rating of '2', to the company's proposed US$490
million senior secured bank facility, which consists of a US$75
million five-year revolving credit facility and a US$415 million
seven-year term loan B.  The '2' recovery rating reflects
expectations for a substantial (80%-100%) recovery of principal
in the event of default.  S&P said the outlook is negative.


REMY WORLDWIDE: Wants to Assume Caterpillar Inventory Agreement
---------------------------------------------------------------
Remy Worldwide Holdings Inc. and its debtor-affiliates ask
authority from the U.S. Bankruptcy Court for the District of
Delaware to assume an inventory purchase agreement with
Caterpillar Inc.

The Debtors sold their diesel engine remanufacturing business to
Caterpillar for roughly US$158 million, pursuant to an asset
purchase agreement dated Jan. 29, 2007.  The Debtors also
entered into outsourcing agreements with Caterpillar, which will
become the Debtors' exclusive supplier of remanufactured heavy
duty starters and alternators.  Caterpillar would acquire
certain machinery and equipment related to the heavy-duty
starter and alternator remanufacturing business.

The initial closing occurred June 25, 2007.  On the same day,
the parties amended the Asset Purchase Agreement to provide, for
among other things, the Debtors' sale, for US$7.16 million,
certain inventory, machinery, equipment and other assets used
designing, remanufacturing, assembling, testing, marketing and
selling remanufactured heavy duty rotating electrics, including
starters and alternators in North America through the Debtors'
facilities in Mississippi.

Kenneth J. Enos, Esq., at Young Conaway Stargatt & Taylor, LLP,
in Wilmington, Delaware, the Debtors' proposed co-counsel, told
the Court that under a related inventory purchase agreement,
Remy Reman, L.L.C. and Remy International, Inc., would sell to
Caterpillar Reman Acquisition Two LLC:

   1. alternator core work-in-process inventory having an
      aggregate purchase price of US$87,000;

   2. alternator new parts having an aggregate purchase price
      of US$1.28 million;

   3. starter core inventory having aggregate value of
      US$2,421,000;

   4. starter core work-in-process inventory having an
      aggregate purchase price of US$2.29 million; and

   5. starter new parts having an aggregate purchase price of
      US$748,000.

Mr. Enos says the Inventory Purchase Agreement contemplates the
transfer of Inventory aggregating roughly US$6.80 million.

The Inventory Purchase Agreement also provides that Caterpillar
may elect to adjust purchase prices for the starter core
inventory using the per unit market value of the Purchased
Inventory as determined using a methodology agreed to between
the parties.  If either party disagrees with the adjusted
inventory value for the starter core inventory, the parties will
resolve the disagreement using dispute resolution process
applicable to alternator core inventory set forth in the Asset
Purchase Agreement.

Mr. Enos said the purchase price does not include any sales,
use, excise or other taxes that the Debtors may be required to
pay in connection with the Inventory sale.  The amount of any
applicable present or future tax will be paid by Caterpillar as
an additional charge or, in lieu of that, Caterpillar will
provide the Debtors with a tax exemption certificate acceptable
to the relevant taxing authorities.

The parties also agreed to certain indemnification provisions.

The Debtors further ssought permission to continue the transfer
of the remainder of the Purchased Inventory, free and clear of
all liens, claims and encumbrances.

Assumption of the Inventory Purchase Agreement is in the best
interest of the Debtors, their estates and creditors, Mr. Enos
contended.  He explained that the sale will result in lower
product costs for the Debtors and represented the highest or
otherwise best offer for the Purchased Assets.

Mr. Enos also asserted that the the sale of the remainder of the
Purchased Inventory is an integral part of the Caterpillar
transaction, which has been substantially consummated.

The purchase price, Mr. Enos said, was determined after good
faith, arm's-length negotiations.  "Accordingly, the Debtors
will realize consideration for the Purchased Assets and the
Remainder of the Purchased Inventory that will be fair and
reasonable," Mr. Enos maintained.

                    About Remy Worldwide

Based in Anderson, Indiana, Remy Worldwide Holdings Inc. acts as
a holding company of all the outstanding capital stock of Remy
International Inc.  Remy International --
http://www.remyinc.com/-- manufactures, remanufactures and
distributes Delco Remy brand heavy-duty systems and Remy brand
starters and alternators, locomotive products and hybrid power
technology.  The company also provides a worldwide component
core-exchange service for automobiles, light trucks, medium and
heavy-duty trucks and other heavy-duty, off-road and industrial
applications.  Remy has operations in the United Kingdom, Mexico
and Korea, among others.

The company and its debtor-affiliates filed for Chapter 11
protection on Oct. 8, 2007 (Bankr. D. Del. Cases No. 07-11481 to
07-11509).  Douglas P. Bartner, Esq., Fredric Sosnick, Esq., and
Michael H. Torkin, Esq., at Shearman & Sterling LLP, represent
the Debtors' in their restructuring efforts.  Pauline K. Morgan,
Esq., Edmon L. Morton, Esq., and Kenneth J. Enos, Esq., at Young
Conaway Stargatt & Taylor, LLP, serve as co-counsels to the
Debtors.  The Debtors' claims agent is Kurtzman Carson
Consultants LLC and their restructuring advisor is AlixPartners,
LLC.

At Sept. 30, 2006, Remy Worldwide's balance sheet showed total
assets of US$919,736,000 and total liabilities of
US$1,265,648,000.  (Remy Bankruptcy News; Issue No. 4,
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


REMY WORLDWIDE: Wants to Employ AP Services as Crisis Manager
-------------------------------------------------------------
Remy Worldwide Holdings Inc. and its debtor-affiliates ask
authority from the U.S. Bankruptcy Court for the District of
Delaware to:

   (a) employ AP Services, LLC, as their crisis managers
       effective as of the Effective Date; and

   (b) designate David C. Johnston as assistant treasurer of
       Remy International Inc.

The Debtors assert that APS' experience in providing crisis
management services to financially-troubled organizations for
over 20 years qualifies the firm for the contemplated services
it will perform on the Debtors' behalf.  Furthermore, Mr.
Johnston has held a variety of restructuring management and
advisory leadership roles during his 10-year tenure with APS'
affiliate, AlixPartners.

Pursuant to an Engagement Letter between the Debtors and APS
dated Sept. 25, 2007, Mr. Johnston will serve as Remy
International's assistant treasurer under the direct supervision
of Remy International's chief executive officer.

As Remy International's assistant treasurer, Mr. Johnston will:

   -- collaborate with the senior management team composed of
      Remy's Board of Directors and the Debtors' other
      professionals in assisting the Debtors in evaluating
      strategic and tactical options through the restructuring
      process;

   -- oversee elements of Remy's Treasury and Cash Management
      functions; and

   -- assist the CEO and the Chief Financial Officer in
      developing improved financial reporting and timelier
      decision-making information.

The Debtors will pay for APS' full time Temporary Staff at these
hourly rates:

         Professional                Hourly Rate
         ------------                -----------
         Managing Directors        US$600 to US$750
         Directors                 US$440 to US$575
         Vice-Presidents           US$325 to US$450
         Associates                US$260 to US$315
         Analysts                  US$210 to US$230
         Paraprofessionals         US$100 to US$175

Based on APS' billing schedule, Mr. Johnston, designated as
full-time Assistant Treasurer, will be compensated with an
hourly rate of US$525.

Aside from providing full-time Temporary Staff, APS will
occasionally use part-time temporary staff for certain Chapter
11-related activities, Kenneth J. Enos, Esq., at Young Conaway
Stargatt & Taylor, LLP, in Wilmington, Delaware, tells the
Court.  The Debtors will be billed for services provided by the
part-time Temporary Staff for hours worked at hourly rates
similar to those of the full-time Temporary Staff.

Among other things, the part-time Temporary Staff may be tasked
to:

   (a) prepare short-term cash flow and liquidity forecasts for
       domestic and international operations;

   (b) assist in the preparation and monitoring of business
       plans and forecasts;

   (c) evaluate Remy's relationship with significant customers,
       development strategies to address customer issues, and
       negotiations for improvements in pricing, product
       specifications, payment terms and other elements
       affecting the company's cash flow;

   (d) develop information for Remy's prepackaged Chapter 11
       filing, through:

       -- compiling required information for the Chapter 11
          petition and other required forms;

       -- assisting the Accounting Department with related
          issues like cutoff and segregation of prepetition
          and postpetition activity; and

       -- assisting counsel with information and analysis
          to support "first day" motions; and

   (e) after the Chapter 11 filing, assist:

       -- the Debtors in managing their bankruptcy process,
          including working with and coordinating the efforts
          of other professionals representing the Debtors'
          various stakeholders;

       -- in preparing information required by the Bankruptcy
          Court, including schedules of assets and
          liabilities, statement of financial affairs and
          monthly operating reports;

       -- in managing supplier relationships to help ensure
          continuation of deliveries and receipt of credit
          terms; and

       -- in tasks like reconciling, managing, and negotiating
          claims, evaluating preferences and the like and in
          supporting the Debtors' positions with respect to
          various Court motions.

David Rawden, an independent contractor of APS, will perform
certain accounting and finance functions for the Debtors.  Mr.
Rawden was formerly a managing director of AlixPartners, with
over 25 years of accounting, finance and restructuring
experience.  Mr. Rawden was a former chief financial officer for
several manufacturing companies, including a US$1 billion
automotive supplier.

APS is billing the Debtors for Mr. Rawden's services at a fixed
monthly rate of US$100,000, which is equal to or less than the
comparable hourly rate that the firm charges for its own
employees who are managing directors, according to Mr. Enos.

The APS professionals contemplated to be employed by the Debtors
and their fees are:

                                          Hourly
  Name              Description            Rate    Commitment
  ----              -----------          --------  ----------
  David C. Johnston Assistant Treasurer   US$525   Full-Time
  Alan Holtz        Engagement Leader     US$675   Part-Time
  Jason Muskovich   Int'l. Cash Mgmt.     US$520   Full-Time
  Henry Colvin      Case Management       US$495   Full-Time
  Kyle Braden       Vendor Management     US$475   Full-Time
  Brent Robison     Int'l. Cash Mgmt.     US$440   Full-Time
  Nishit Shah       Case Management       US$315   Full-Time
  Jarod Clarrey     Case Management       US$230   Full-Time

The Debtors will also reimburse APS of necessary out-of-pocket
expenses incurred in connection with their Chapter 11 cases,
including travel, lodging, postage and telephone charges.

APS intends to submit to the Court quarterly reports of
compensation earned.

In addition to the hourly fees, APS and the Debtors agree that
in the event of a meaningful and appropriate milestone, APS will
receive a US$1,000,000 Success Fee.  The fee is intended to
reflect the alignment of both parties' interests.

Under the Engagement Letter, the Debtors agree to indemnify,
hold harmless, and defend APS and its affiliates against all
claims, liabilities, losses, damages, and reasonable expenses as
they are incurred, including reasonable legal fees and
disbursements of counsel.

Without prejudice to these rights, APS waives indemnification of
itself as an entity.  Indemnification of APS personnel who are
not officers of the Debtors will be subject to the approval of
Remy International's Board of Directors.

The Debtors assert that they will use reasonable efforts to
include and cover Temporary Staff serving as their officers from
time to time, as insureds under the Debtors' policy for
directors' and officers' insurance.  The Debtors will maintain
the D&O Insurance coverage for the period through which claims
can be made against those persons.

Alan D. Holtz, a managing director at APS, declares that none of
APS' principals, employees, agents, or affiliates have any
connection with the Debtors, their creditors, the U.S. Trustee,
or any other party, with an actual potential interest in the
Debtors' Chapter 11 cases.

Mr. Holtz relates that APS has represented Angelo Gordon, AT&T
Corp., Bear Stearns, BellSouth, Blue Diamond, Bombardier Inc.,
Caterpillar, Citicorp Del-Lease, Credit Suisse First Boston,
DaimlerChrysler, Deloitte & Touche, Fiat, Ford, General Motors
Corp., Honda, Morgan Stanley, among others, in matters unrelated
to the Debtors.

                    About Remy Worldwide

Based in Anderson, Indiana, Remy Worldwide Holdings Inc. acts as
a holding company of all the outstanding capital stock of Remy
International Inc.  Remy International --http://www.remyinc.com/
-- manufactures, remanufactures and distributes Delco Remy brand
heavy-duty systems and Remy brand starters and alternators,
locomotive products and hybrid power technology.  The company
also provides a worldwide component core-exchange service for
automobiles, light trucks, medium and heavy-duty trucks and
other heavy-duty, off-road and industrial applications.  Remy
has operations in the United Kingdom, Mexico and Korea, among
others.

The company and its debtor-affiliates filed for Chapter 11
protection on Oct. 8, 2007 (Bankr. D. Del. Cases No. 07-11481 to
07-11509).  Douglas P. Bartner, Esq., Fredric Sosnick, Esq., and
Michael H. Torkin, Esq., at Shearman & Sterling LLP, represent
the Debtors' in their restructuring efforts.  Pauline K. Morgan,
Esq., Edmon L. Morton, Esq., and Kenneth J. Enos, Esq., at Young
Conaway Stargatt & Taylor, LLP, serve as co-counsels to the
Debtors.  The Debtors' claims agent is Kurtzman Carson
Consultants LLC and their restructuring advisor is AlixPartners,
LLC.

At Sept. 30, 2006, Remy Worldwide's balance sheet showed total
assets of US$919,736,000 and total liabilities of
US$1,265,648,000.  (Remy Bankruptcy News; Issue No. 4,
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)




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BANCO LATINOAMERICANO: Renews US$25MM Andean Dev't Credit Line
--------------------------------------------------------------
Banco Latinoamericano de Exportaciones, S.A., has renewed a
US$25-million credit line with the Andean Development
Corporation, the Andean Development said in a press statement.

Banco Latinoamericano's assets totaled US$4.21 billion as of
June 30, 2007.  Its stockholder equity stood at US$606 million,
Business News Americas reports.

Headquartered in Panama City, Panama, Banco Latinoamericano de
Exportaciones, SA aka Bladex -- http://www.bladex.com-- is a
supranational bank originally established by the Central Banks
of Latin American and Caribbean countries to promote trade
finance in the Region.  The bank's shareholders include central
banks and state-owned entities in 23 countries in the Region, as
well as Latin American and international commercial banks, along
with institutional and retail investors.  Through Dec. 31, 2005,
Bladex had disbursed accumulated credits of over US$135 billion.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 1, 2007, Moody's Investors Service has confirmed that it
raised its bank financial strength rating on Banco
Latinoamericano de Exportaciones, SA aka Bladex to D+ from D-,
in connection with the rating agency's implementation of its
refined joint default analysis and updated BFSR methodologies
for banks in Panama.


CHIQUITA BRANDS: Fresh Express Acquires Verdelli Farms
------------------------------------------------------
Chiquita Brands International Inc.'s wholly owned subsidiary,
Fresh Express, has acquired privately held Verdelli Farms, one
of the premier regional processors of value-added salads,
vegetables and fruit snacks on the East Coast of the United
States.  The company, which markets its products under the
Harvest Select and Verdelli Farms brands, operates in 10 states
from Massachusetts to Virginia.  Verdelli Farms will be
integrated into Chiquita's Fresh Express unit.

"The acquisition of Verdelli Farms, with its focus on meeting
the needs of consumers for fresh, healthy and convenient foods,
superior food safety and strong customer relationships, is a
great fit within our sustainable growth strategy and an
excellent complement to our Fresh Express brand," said Fernando
Aguirre, chairman and chief executive officer of Chiquita Brands
International.  "The acquisition accelerates our expansion into
the Northeast, where there is strong demand from the largest
U.S. concentration of value- added salads consumers, but where
the Fresh Express brand has been under- represented."

Mr. Aguirre continued, "We are also pleased that Dan, Mike and
Jen Verdelli, as well as other members of Verdelli Farms' strong
management team, will remain with the company following the
acquisition and offer leadership talent that is a good cultural
fit with our focus on innovative value-added products, food
safety, freshness, customer service and category development."

                     About Fresh Express

Fresh Express is the No. 1 brand of value-added salads, with a
total U.S. market share of approximately 47 percent.  Through
this acquisition of Verdelli Farms' modern manufacturing
capabilities and efficient distribution capacity, Fresh Express
will be able to expand its share in the Northeast from
approximately 30% today and gain an effective platform for
growth in this important region.  In addition, the acquisition
will allow Fresh Express to gain networkwide cost synergies in
distribution and logistics costs while achieving up to a two-day
improvement in the freshness of salads it delivers to customers
and consumers in the Northeast.

Harrisburg, Pa.-based Verdelli Farms is a third-generation,
family-owned business founded in 1924.  The company employs
approximately 400 people and has annual revenues of
approximately US$80 million.  In 2006, the company produced more
than 8 million cases of fresh salads, vegetables and fruit
snacks for more than 80 customers in 10 states from
Massachusetts to Virginia.

Fresh Express, a wholly owned subsidiary of Chiquita Brands
International, Inc., is the world's largest producer of fresh
salads. With a rich history that traces its roots back to 1926
and the beginnings of the fresh produce industry in Salinas,
Calif., where the company is headquartered, Fresh Express is
recognized as a leader in food safety and as the creator of the
ready-to-eat fresh salad category. Fresh Express is responsible
for a number of other important "firsts" in the fresh salad
category, including the first complete salad kit and the first
salad blend with multiple varieties of lettuces and greens.

Cincinnati, Ohio-based Chiquita Brands International, Inc.
(NYSE: CQB) -- http://www.chiquita.com/-- markets and
distributes fresh food products including bananas and nutritious
blends of green salads.  The company markets its products under
the Chiquita(R) and Fresh Express(R) premium brands and other
related trademarks.  Chiquita employs approximately 25,000
people operating in more than 70 countries worldwide, including
Colombia, Panama and the Philippines.

                        *     *     *

As reported in the Troubled Company Reporter on May 16, 2007,
Moody's Investors Service Ratings affirmed these ratings on
Chiquita Brands International Inc.:

   (i) corporate family rating at B3;

  (ii) probability of default rating at B3;

(iii) US$250 million 7.5% senior unsecured notes due 2014 at
       Caa2(LGD5, 89%); and

  (iv) US$225 million 8.875% senior unsecured notes due 2015
       at Caa2 (LGD5, 89%).

Moody's changed the rating outlook for Chiquita Brands to
negative from stable.

Troubled Company Reporter reported on May 4, 2007, that Standard
& Poor's Ratings Services placed its 'B' corporate credit and
other ratings on Cincinnati, Ohio-based Chiquita Brands
International Inc. on CreditWatch with negative implications,
meaning that the ratings could be lowered or affirmed following
the completion of their review.  Total debt outstanding at the
company was about US$1.3 billion as of March 31, 2007.


SOLO CUP: Closes Biz Sale; Reduces Debt Up to US$325 Million
------------------------------------------------------------
Solo Cup Company disclosed several transactions that will both
reduce debt and continue to improve the company's operating
performance.  First, the company completed the previously
announced sale of its Hoffmaster(R) business.  In addition, Solo
has sold its uncoated white paper plate business.  After
applying net proceeds from these and previous transactions to
its term loan, the Company will have paid down more than US$325
million so far this year.  Lastly, the company announced plans
to close two facilities, taking advantage of improvements in
manufacturing efficiencies gained through its ongoing
Performance Improvement Program.

                   Hoffmaster Sale Complete

A newly formed affiliate of Kohlberg & Company, LLC has acquired
all of the assets of the Company's Hoffmaster business for
approximately US$170 million.  The transaction includes
Hoffmaster's product portfolio of disposable tableware and
special occasions consumer products and associated manufacturing
equipment, as well as two manufacturing facilities located in
Oshkosh and Appleton, Wis., a distribution center located in
Indianapolis, Ind., and a sourcing subsidiary in Hong Kong.

                 White Paper Plate Business Sold

Solo also announced that it has sold its uncoated white paper
plate business to AJM Packaging Corporation, a manufacturer of
private label disposable paper foodservice products.

"We made a strategic decision to exit this commodity product
line.  We remain very committed to our private label business
where we can add value for customers through our unique
capabilities," said Robert M. Korzenski, CEO, Solo Cup Company.
"We will focus our attention and investment in our decorated and
coated white paper plate business, which we believe represents a
stronger growth opportunity for Solo."

"The sale of both the Hoffmaster and uncoated white paper plate
businesses illustrates that the Company is steadily executing
its strategy to shed non-core assets in order to reduce debt and
increase investment in businesses that truly differentiate
Solo," Korzenski continued.  "Including the sale-leaseback
transaction completed earlier this year, we have repaid more
than US$325 million already in 2007 -- a remarkable achievement
given our financial position just one year ago."

          Shutdown of Leominster & Wheeling Facilities

Solo also announced that it intends to close manufacturing
facilities in Leominster, Mass., and Wheeling, Ill., and shift
production and employment to other manufacturing locations,
including North Andover, Mass., and Chicago, Ill. The Leominster
and Wheeling plants are expected to close by Dec. 31, 2007, and
Feb. 28, 2008, respectively.  The costs associated with these
facility closings are expected to be recovered in less than two
years.

"As a result of improved efficiencies across our asset base and
the Company's SKU rationalization initiative, we have been able
to streamline our operations," said Peter J. Mendola, Solo's
senior vice president of manufacturing.  "These closures, which
primarily affect our straw and cutlery product lines, will be
managed to ensure no disruption to our customers.  Further,
given the close proximity of other Solo facilities, we expect a
number of our employees to remain with us. Regardless, it is
always difficult to implement a decision that will cause
disruption for our people.  They work hard for us and we are
grateful for their service."

Headquartered in Highland Park, Illinois, Solo Cup Company
-- http://www.solocup.com/-- manufactures disposable
foodservice products for the consumer and retail, foodservice,
packaging, and international markets.  Solo Cup has broad
expertise in plastic, paper, and foam disposables and creates
brand name products under the Solo, Sweetheart, Fonda, and
Hoffmaster names.  The company was established in 1936 and has a
global presence with facilities in Asia, Canada, Europe, Mexico,
Panama and the United States.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 7, 2007, Fitch Ratings has affirmed the ratings for Solo
Cup Company as:

  -- Issuer default rating (IDR) 'B-';
  -- Senior secured first lien term loan 'B+/RR2';
  -- Senior secured revolving credit facility 'B+/RR2';
  -- Senior subordinated notes 'CCC/RR6'.




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COMVERSE TECH: Appoints John Bunyan as Chief Marketing Officer
--------------------------------------------------------------
Comverse Technology Inc. has named John Bunyan as its Chief
Marketing Officer, reporting to the company's President and
Chief Executive Officer, Andre Dahan, effective Oct. 22, 2007.
In his new role, Mr. Bunyan also will be responsible for the
marketing function at Comverse, Inc.  The Comverse, Inc.
marketing staff will report to Mr. Bunyan, and it is expected
that the company will designate a marketing vice president
reporting to both Mr. Bunyan and Comverse, Inc. President Yaron
Tchwella.

Benny Einhorn, currently President of EMEA and Chief Marketing
Officer at Comverse, Inc., will continue as President of EMEA,
and will focus his efforts on managing operations in this
important region, while working with Mr. Bunyan to transition
the marketing function.  Also, as announced on Sept. 4, 2007,
Cynthia Shereda joined Comverse Technology yesterday as
Executive Vice President, General Counsel and Corporate
Secretary.  Reuven Friedman, General Counsel at Comverse, Inc.,
reports to both Ms. Shereda and Mr. Tchwella.

Mr. Dahan said, "We welcome John and Cynthia to our team,
confident that they will be key contributors to our efforts to
achieve operational excellence and maximize shareholder return.
John is a proven marketing performer with deep knowledge of the
telecom business.  He will support our management team as we
pursue our goal of making Comverse a more agile, market-driven
company.  Cynthia is an accomplished executive, with experience
in both the legal and accounting fields, with a background that
is well-suited to Comverse's challenges and opportunities."

Mr. Bunyan has more than 20 years of senior management
experience. He was Senior Vice President of Mobile Multimedia
Services at AT&T Wireless and was responsible for the consumer
wireless data business.  In this role he helped develop
messaging, mobile Internet, and other consumer services.  He
also served as Senior Vice President of Marketing at Dun &
Bradstreet, and prior to that, as Executive Vice President of
Marketing at Reuters Americas.  Mr. Bunyan has also consulted
for a number of venture-funded firms in wireless and other
industries.  Earlier in his career, he held senior positions
with McGraw-Hill/Standard & Poor's and managed a marketing
communications firm. He is a graduate of Stanford University.

Ms. Shereda has more than 20 years experience in the legal and
accounting professions.  Recently, she was Executive Vice
President, Chief Legal Officer and Secretary at ATMI, Inc., a
semiconductor materials company, and prior to that, served as
Transaction and Finance Counsel at General Electric, focusing on
mergers, acquisitions and divestitures.  In addition, she held a
variety of positions in securities and M&A law, and as a
Certified Public Accountant, in public and private accounting.
She holds a J.D. from the University of Texas and a B.S. from
New York University.

                 About Comverse Technology

Comverse Technology, Inc., -- http://www.cmvt.com/-- (Pink
Sheets: CMVT.PK) through its Comverse, Inc. subsidiary, provides
software and systems enabling network-based multimedia enhanced
communication and billing services.  The company's Total
Communication portfolio includes value-added messaging,
personalized data and content-based services, and real-time
converged billing solutions.  Over 500 communication and content
service providers in more than 130 countries use Comverse
products to generate revenues, strengthen customer loyalty and
improve operational efficiency.  Other Comverse Technology
subsidiaries include: Verint Systems (VRNT.PK), which provides
analytic software-based solutions for communications
interception, networked video security and business
intelligence; and Ulticom (ULCM.PK), which provides service
enabling signaling software for wireline, wireless and Internet
communications.

In Latin America, Comverse has operations in Argentina, Brazil,
Mexico and Peru.

                        *     *     *

As reported in the Troubled Company Reporter on Feb. 5, 2007,
Standard & Poor's Ratings Services kept its 'BB-' corporate
credit and senior unsecured debt ratings on New York-based
Comverse Technology Inc. on CreditWatch with negative
implications, where they were placed on March 15, 2006.




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COOPER COMPANIES: Moody's Affirms Ba3 Rating on US$350MM Notes
--------------------------------------------------------------
Moody's Investors Service has revised Cooper Companies, Inc.'s
ratings outlook to negative from stable.  Additionally, Moody's
downgraded the company's speculative grade liquidity rating to
SGL-2 from SGL-1.  Concurrently, Moody's affirmed the company's
Ba3 corporate family rating, Ba3 probability of default rating
and Ba3 rating on the US$350 million senior unsecured notes due
2015.

The revision of the ratings outlook to negative from stable
anticipates that the company will continue to experience
additional capital spending related to new product introductions
coupled with lingering costs associated with its restructuring
efforts that will affect the company's free cash flow
generation.  With the additional capital spending, the company
has not focused on repaying its outstanding debt and will have a
higher debt position over the near term compared with the
expectations Moody's held in January 2007.

Sidney Matti, Analyst, stated that, "Over the near term, Cooper
has ongoing capital spending requirements related to the startup
of the manufacturing of newer contact lens products as well as
lingering costs associated with the integration of Ocular
Sciences, which will result in negative free cash flow."

The downgrade of the company's liquidity rating to SGL-2 from
SGL-1 recognizes that through the period ended July 31, 2008,
Moody's expects Cooper to generate adequate cash flow from
operations sufficient to cover the company's capital spending
needs albeit lower than Moody's expectations.  Additionally, the
company will have availability under the US$650 million
revolving credit facility.

This rating was downgraded:

  -- Speculative Grade Liquidity Rating to SGL-2 from SGL-1.

These ratings were affirmed:

  -- Corporate Family Rating at Ba3;
  -- Probability of Default Rating at Ba3; and
  -- Ba3 rating (LGD3/45%) on Senior Unsecured Notes due 2015.

The Cooper Companies, Inc. (NYSE:COO) --
http://www.coopercos.com/-- manufactures and markets
specialty healthcare products through  its CooperVision and
CooperSurgical units. Corporate offices are in Lake Forest and
Pleasanton, Calif.

CooperVision -- http://www.coopervision.com/-- manufactures and
markets contact lenses and ophthalmic surgery products.
Headquartered in Lake Forest, Calif., it has manufacturing
operations in Albuquerque, New Mexico, Juana Diaz, Puerto Rico,
Norfolk, Virginia, Rochester, New York, Adelaide, Australia,
Hamble and Hampshire England, Ligny-en-Barrios, France, Madrid,
Spain and Toronto.

CooperSurgical -- http://www.coopersurgical.com/-- manufactures
and markets diagnostic products, surgical instruments and
accessories to the women's healthcare market.  With headquarters
and manufacturing facilities in Trumbull, Conn., it also
manufactures in Pasadena, California, North Normandy, Illinois,
Fort Atkinson, Wisconsin, Montreal and Berlin.

Proclear(R) and Biomedics(R) are registered trademarks and
Biomedics XC(TM) and Biofinity(TM) are trademarks of The Cooper
Companies, Inc., and its subsidiaries or affiliates.


TOYS "R" US: Mothers Call on KKR to Adopt Child Safety Measures
---------------------------------------------------------------
Child safety advocates and elected officials joined dozens of
mothers concerned about lead in toys to call on buyout firm
Kohlberg Kravis Roberts & Co. to adopt a code of conduct for its
portfolio companies' suppliers.  The coalition seeks to ensure
that the toys sold at Toys "R" Us and other stores as Halloween
and the holiday season approach are safe and do not endanger
children.

                    CEO Senate Testimony

As reported in the Troubled Company Reporter on Sept. 18, 2007,
Jerry Storch, Chairman and Chief Executive Officer of Toys "R"
Us, Inc., testified on the issue of toy safety at a special
hearing of the Senate Appropriations Subcommittee on Financial
Services and General Government.  In his testimony, Mr. Storch
reaffirmed the company's support of proposed federal legislation
to build a more effective Consumer Product Safety Commission,
strengthen third-party testing requirements for products, and
introduce production code stamping.

In addition, the company disclosed new steps it is taking to
ensure customers receive even more rapid and detailed
information regarding toy safety issues.

As part of its ongoing commitment to safety, Toys "R" Us, Inc.
also reported new enhancements to ensure its customers have the
most specific and up-to-date information on toy safety issues.
Mr. Storch shared these new initiatives with the Subcommittee,
which include:

   * Launching a dedicated toy safety microsite,
     http://www.Toysrus.com/Safety/that has information about
     the company's safety assurance standards and procedures,
     as well as specific recall information;

   * Introducing an email notification system for recalls;

   * Adding bilingual recall notices to its communication
     protocols; and

   * Introducing new Safety Boards in stores, which will
     contain important product safety information, including
     recall notices.

These improvements are part of the company's ongoing efforts to
raise the bar continually when it comes to the safety of
children.  These new measures were developed to deliver rapid
and decisive communications to customers about safety issues.

                     Coalition's Report

KKR has a history of profiting from companies that sell
hazardous products for children.  The coalition released a new
report detailing how KKR portfolio companies have repeatedly
been at the center of recalls, congressional concerns, and
lawsuits over dangerous toys and other products, including toys
tainted with toxic lead paint.  Child safety advocates and
elected officials demanded that KKR and its affiliates
immediately adopt a code of conduct to prevent future safety
lapses, and announced a toll free number and website for
concerned parents who want to protect their children from
potentially dangerous toys and other products.

"The safety of our children cannot be taken lightly,"
Congresswoman Yvette D. Clarke (D-NY 11) said.  "I am proud to
stand with members of the community that are calling for
increased accountability from KKR and other companies that
impact the lives and well-being of our children."

"With all the dangers that parents must protect their children
from today, we cannot add to that the additional worry of
whether toys are safe," Congresswoman Nydia M. Velazquez,
(D-NY 12) said.  "It is crucial that parents feel confident when
buying products for their kids, and KKR must take ultimate
responsibility for the quality of merchandise sold in their
stores.  Anything less is completely unacceptable."

              Suggested Business Code of Conduct

The detailed business code of conduct for KKR is a common sense
approach to protect children, workers and the environment from
harmful chemicals in toys and children's products.  It is a
healthy business strategy for ensuring a sustainable client base
and thriving economy.

KKR should:

   * Know what's in its products by requiring content and
     safety information.

   * First eliminate the most hazardous chemicals like lead,
     phthalates, PBDEs, cadmium and bisphenol A from children's
     toys.

   * Ensure workers and production and disposal site
     communities are protected.

   * Support government reform measures that close the safety
     gap that continues to allow untested chemicals into
     everyday consumer products.

"It is in the power of KKR and Toys "R" Us to have a huge impact
on the safety of the supply stream coming onto our shelves,"
Judith Robinson of the Coming Clean Collaborative, a coalition
of over 125 public and environmental health watchdog groups,
said.  "A code of conduct to ensure the toys and kids products
they sell are toxic-free is the beginning."

KKR portfolio company recalls in 2007:

   * This summer, Toys "R" Us recalled thousands of lead-
     tainted bibs and crayon and paint sets.

   * Earlier this year, Toys "R" Us also recalled more than
     128,000 toy sets because of unsafe levels of lead

   * This month, 15,000 Toys "R" Us toys were recalled for lead
     levels that violate federal standards.

   * In October alone, Dollar General recalled nearly 200,000
     lead-tainted key chains and 63,000 Frankenstein decorated
     cups.

   * Evenflo-a company formerly owned by KKR-was found liable
     by a jury in the death of a 4-month-old baby who was
     injured in a car seat made by the company.

Despite these recalls, news of another toxic toy found on Toy
"R" Us shelves was released Oct. 11, 2007.  The Center for
Environmental Health reported that a Marvel Curious George doll
bought at Toys "R" Us contained more than 6,000 ppm of lead,
more than 10 times the legal lead-paint limit.

Child safety advocates and corporate watchdogs said they are
concerned that businesses owned by buyout firms such as KKR may
be less likely to be vigilant when it comes to consumer safety
because of the industry's business model, which places control
of a company in the hands of a largely unaccountable group of
private investors.

"The KKR crowd would give a toxic cocktail to Barney the
Dinosaur if it made them a few extra bucks," Dan Cantor,
Executive Director of the Working Families Party, said.  "It's
no coincidence that an industry built around quick profit and
limited transparency would be linked to so many dangerous lapses
in product safety."

"Selling these toys is like peddling poison to kids," ACORN NY
President Pat Boone said.  "These tainted toys are just more
proof that these buyout giants care more about profit than
people."

The child safety advocates, elected officials, and mothers
demanded that KKR portfolio companies' suppliers and
manufacturing partners also ensure that they are adhering to a
code of conduct by providing inspection documentation and
certification.

The group disclosed a hotline -- (866) 311-3405 -- for parents
to call with questions about products for children, a new
website, and a program to provide free lead test kits.

                       About Toys 'R' Us

Headquartered in Wayne, New Jersey, Toys "R" Us --
http://www.Toysrus.com/-- is a specialty toy retailer, which
sells merchandise through more than 1,500 stores, including 586
stores in the U.S. and 699 international stores, which include
licensed and franchised stores, and through its Internet site.
The company has operations in Puerto Rico.

Babies "R" Us -- http://www.Babiesrus.com/-- is a baby product
specialty store chain, which sells merchandise through 256
stores in the U.S. as well as on the Internet.

At Aug. 4, 2007, the company reported total assets of US$8.22
billion, total liabilities of US$8.80 billion, and minority
interest of US$130.0 million, resulting in a US$710 million
total shareholders' deficit.

                        *     *     *

As reported in the Troubled Company Reporter on Aug. 28, 2007,
Moody's Investors Service confirmed the B2 corporate family
rating and the B2 probability of default rating of Toys 'R' Us
Inc.  Moody's also confirmed the Caa1 rating of the company's
senior unsecured notes due 2011-2018.  Moody's said the outlook
is stable.

As reported in the Troubled Company Reporter on July 3, 2007,
Standard & Poor's Ratings Services raised its corporate credit
rating on Toys 'R' Us Inc. to 'B' from 'B-'.  At the same time,
the senior unsecured rating was raised to 'CCC+' from 'CCC'.
S&P said the outlook is stable.




=================
V E N E Z U E L A
=================


BCBG MAX: S&P Affirms Corporate Credit Rating at B-
---------------------------------------------------
Standard & Poor's Ratings Services has affirmed its 'B-'
corporate credit rating on BCBG Max Azria Group Inc.  S&P has
removed all the ratings from CreditWatch, where they were placed
with negative implications on July 10, 2007.  The outlook is
negative.

"Although the company successfully amended its financial
covenants, thereby alleviating the possibility of a near-term
downgrade," said S&P's credit analyst Jackie E. Oberoi, "we
remain concerned about its very poor performance, which has been
well below expectations."  Moreover, we believe that prospects
for a turnaround at Los Angeles-based BCBG may be improbable
over the near term, and that this could further impair already
weak credit measures.

Headquartered in Vernon, California, BCBG Max Azria Group, Inc.
-- http://www.bcbg.com/-- is an apparel retailer and
wholesaler.  It operates over 530 retail stores, 57 factory
stores, and 102 partnership shops in the United States primarily
under the BCBG and Max Rave nameplates.  In addition, it
distributes to over 400 wholesale doors under the BCBGMaxAzria,
TO THE MAX, Maxime, dorothee bis, Herve Leger, BCBGirls,
Parallel, and maxandcleo brand names.  Revenues for the LTM
period ended Sept. 30, 2006 were approximately US$645 million.

The company has international offices in Chile, Japan, Canada,
France and Venezuela.


CHRYSLER LLC: Will Fund Employees' Health Trust with US$8.8 Bil.
----------------------------------------------------------------
Chrysler LLC is obliged to contribute US$8.8 billion to a
voluntary employees' beneficiary association, or VEBA fund, that
the union will use to cover the costs of retiree health care
after 2010, when the fund becomes operational, under the newly
ratified contract between the carmaker and the United Auto
Workers union, Josee Valcourt and Neal E. Boudette report for
the Wall Street Journal.

Chrysler will also pay US$1.5 billion to cover the costs of
retiree health care between now and 2010, according to a
24-page summary of the contract that was distributed to union
officials on Monday, WSJ notes.

Chrysler will be allowed to hire new workers for certain
"noncore" jobs at wages well below those it pays existing union
employees, the contract states.  New, noncore hires will earn
between US$14 and US$16.23 an hour, compared to US$28 to
US$32.52 an hour for current workers, WSJ says.

The contractual terms between the two parties were patterned
after General Motors Corp.'s new contract with the UAW.  GM has
promised to save jobs by keeping its plants running even after
its contract with the UAW expires.  Chrysler, on the other hand,
does not guarantee that most of its eight assembly U.S. plants
will remain open beyond the four years covered by its contract,
WSJ reveals.

                      About Chrysler LLC

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- offers cars and minivans, pick-up
trucks, sport utility vehicles, and vans under the Chrysler,
Jeep, and Dodge brand names.  It also sells parts and
accessories under the MOPAR brand.

The company has dealers worldwide, including Canada, Mexico,
U.S., Germany, France, U.K., Argentina, Brazil, Venezuela,
China, Japan and Australia.

                        *     *     *

On Oct. 1, 2007, Standard & Poor's Ratings Services placed its
corporate credit ratings on Chrysler LLC and DaimlerChrysler
Financial Services Americas LLC on CreditWatch with positive
implications.

As reported in the Troubled Company Reporter on Aug. 8, 2007,
Standard & Poor's Ratings Services revised its loan and recovery
ratings on Chrysler LLC's (B/Negative/--) US$10 billion senior
secured first-lien term loan facility due 2013, following
various changes to terms and conditions prior to closing.  The
US$10 billion first-lien term loan now consists of a US$5
billion "first-out" tranche and a US$5 billion "second-out"
tranche, so the aggregate amount of first-lien debt remains
unchanged.

Accordingly, S&P assigned a 'BB-' rating to the US$5 billion
"first-out" first-lien term loan tranche.  This rating, two
notches above the corporate credit rating of 'B' on Chrysler
LLC, and the '1' recovery rating indicate S&P's expectation for
very high recovery in the event of payment default.  S&P also
assigned a 'B' rating to the US$5 billion "second-out" first-
lien term loan tranche.  This rating, the same as the corporate
credit rating, and the '3' recovery rating indicate S&P's
expectation for a meaningful recovery in the event of payment
default.

Moody's Investors Service has affirmed Chrysler Automotive LLC's
B3 Corporate Family Rating, and the Caa1 rating of the company's
US$2 billion senior secured, second lien term loan in connection
with the closing of DaimlerChrysler AG's sale of a majority
interest of Chrysler Group to Cerberus Capital Management LLC.


PEABODY ENERGY: Appoints VP & Assistant Operations Controller
--------------------------------------------------------------
Peabody Energy has promoted Gary T. Kacich as Vice President and
Assistant Controller - Operations, reporting to Senior Vice
President, Controller and Chief Accounting Officer L. Brent
Stottlemyre.  Mr. Kacich will be responsible for corporate and
operations accounting, as well as the sales accounting, payroll,
accounts payable and records retention functions.

Reporting to Mr. Kacich are Payroll Manager Lynn K. Payne,
Accounts Payable Manager Linda L. Son, Senior Manager of Sales
Accounting Michael E. Fourney, Senior Manager of Accounting
Rebecca J. Mead and Records Retention Administrator Jon A.
Zinkgraf.

Mr. Kacich has 20 years of financial experience and a strong
background with Peabody. He joined Peabody in 1995 as Manager of
Subsidiary Accounting.  He has served in various accounting
management positions, including Director of Corporate
Accounting, Director of Financial Planning, Assistant Treasurer
and Assistant Controller - Operations.  Prior to joining
Peabody, Mr. Kacich spent two years as Division Accounting
Manager with Mallinckrodt Medical and five-plus years in the
Ernst & Young audit function.

Mr. Kacich holds a Bachelor of Science degree in Accountancy
from the University of Missouri - Columbia.  He is a Certified
Public Accountant and a member of the American Institute of
Certified Public Accountants and the Missouri Society of
Certified Public Accountants.

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
(NYSE: BTU) -- http://www.peabodyenergy.com/-- is the world's
largest private-sector coal company, with 2005 sales of 240
million tons of coal and US$4.6 billion in revenues.  Its coal
products fuel 10% of all U.S. and 3% of worldwide electricity.
The company has coal operations in Venezuela.

                        *     *     *

As reported in the Troubled Company Reporter on Mar. 9, 2007,
Moody's Investors Service reported that, after the adoption of
final guidelines for preferred stock and hybrid securities
notching, it downgraded Peabody Energy Corporation's hybrid
instrument to Ba3.  Moody's placed the instrument on review for
downgrade.


PEABODY ENERGY: Names Kenneth Wagner VP & Assistant Gen. Counsel
----------------------------------------------------------------
Peabody Energy has announced that Kenneth L. Wagner has been
named Vice President and Assistant General Counsel with legal
responsibility for corporate governance and Securities and
Exchange Commission compliance for the company.  Mr. Wagner will
report to Executive Vice President and Chief Legal Officer
Alexander C. Schoch.  Mr. Wagner joined the company on Sept. 24.

Mr. Wagner has 25 years of extensive corporate legal experience,
most recently as Associate General Counsel for Bank of America.
In that role, he provided advice and counsel to senior
management on corporate governance, SEC compliance and executive
and director compensation matters.

He previously served in legal positions with Goodrich Corp.,
including Principal Counsel and Assistant Secretary.  Earlier in
his career, Mr. Wagner worked in private practice and as a
Special Counsel for the SEC's Division of Corporation Finance.

Mr. Wagner holds a Master of Laws in Securities Regulation from
Georgetown University, as well as a Juris Doctorate and Bachelor
of Arts in Journalism from the University of Kansas.  He is
admitted to practice law in several states, and serves on the
national board of directors of the Society of Corporate
Secretaries and Governance Professionals.

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
(NYSE: BTU) -- http://www.peabodyenergy.com/-- is the world's
largest private-sector coal company, with 2005 sales of 240
million tons of coal and US$4.6 billion in revenues.  Its coal
products fuel 10% of all U.S. and 3% of worldwide electricity.
The company has coal operations in Venezuela.

                        *     *     *

As reported in the Troubled Company Reporter on Mar. 9, 2007,
Moody's Investors Service reported that, after the adoption of
final guidelines for preferred stock and hybrid securities
notching, it downgraded Peabody Energy Corporation's hybrid
instrument to Ba3.  Moody's placed the instrument on review for
downgrade.


SHAW GROUP: Names Brian Ferraioli as Chief Financial Officer
------------------------------------------------------------
The Shaw Group Inc. appointed Brian K. Ferraioli as executive
vice president and chief financial officer of the company.

Accordingly, Mr. Dirk Wild, who was serving as Senior Vice
President and Interim Chief Financial Officer will no longer
serve as Interim Chief Financial Officer.  Mr. Wild will
continue serving the company in the capacity as Vice President
and Chief Accounting Officer.

As reported in the Troubled Company Reporter on July 16, 2007,
Mr. Ferraioli accepted an offer to join the company as Executive
Vice President, Finance, and agreed to assume the role of Chief
Financial Officer of the company after the Company filed its
Quarterly Report on Form 10-Q for the third quarter of the
company's 2007 fiscal year and before the Company reported its
fourth quarter fiscal year 2007 financial results.

Immediately prior to joining the company and since November
2002, Mr. Ferraioli served as Vice President and Controller for
Foster Wheeler, Ltd., a global engineering and construction
contractor and power equipment supplier.  From July 2000 until
November 2002, Mr. Ferraioli served as Vice President and Chief
Financial Officer of Foster Wheeler USA Corporation.  Prior to
that, from July 1998 until July 2000, Mr. Ferraioli served as
Vice President and Chief Financial Officer of Foster Wheeler
Power Systems, Inc.

A full-text copy of the employment agreement between the company
and Mr. Ferraioli is available for free at:

            http://ResearchArchives.com/t/s?2449

                      About Shaw Group

Based in Baton Rouge, Louisiana, The Shaw Group Inc. (NYSE: SGR)
-- http://www.shawgrp.com/-- provides services to the
environmental, infrastructure and homeland security markets,
including consulting, engineering, construction, remediation and
facilities management services to governmental and commercial
customers.  It is also a vertically integrated provider of
engineering, procurement, pipe fabrication, construction and
maintenance services to the power and process industries.  The
company segregates its business activities into four operating
segments: Environmental & Infrastructure; Energy & Chemicals;
Maintenance, and Fabrication, Manufacturing & Distribution.  In
January 2005, the company sold substantially all of the assets
of its Shaw Power Technologies, Inc. and Shaw Power Technologies
International, Ltd. units to Siemens Power Transmission and
Distribution Inc., a unit of Siemens AG.

The company has operations in Chile, China, Malaysia, the United
Kingdom and, Venezuela, among others.

                        *     *     *

Standard & Poor's Ratings Services affirmed its 'BB' corporate
credit rating on The Shaw Group Inc. and removed it from
CreditWatch, where it was placed with negative implications in
October 2006.  S&P said the outlook is stable.

In addition, 'BB' senior secured debt rating was affirmed after
the US$100 million increase to the company's revolving credit
facility.


                          ***********


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