WASHINGTON, Aug 29, 2007 (AFP) - An Australian-run investment fund, the Basis Yield Alpha Fund, filed for bankruptcy protection in the United States Wednesday after suffering heavy losses related to the US housing slump.

America's housing downturn and mounting property foreclosures have triggered losses for investors around the world who bought risky US mortgage-backed securities.

GENEVA, Aug 18, 2007 (AFP) - Creditors of the bankrupt airline Swissair will probably start to receive payments for the first time in November, six years after the airline's spectacular collapse, the company's liquidator said Saturday.

Karl Wuethrich, the lawyer appointed to oversee the liquidation of the company's assets, said in a circular to creditors that he was planning to begin interim payments out of a total 9.82 billion Swiss francs (6.03 billion euros, 8.11 billion dollars) in recognised claims.

ROME, July 25, 2007 (AFP) - Parmalat founder Calisto Tanzi was ordered Wednesday to stand trial over the 2003 collapse of the Italian food giant in one of Europe`s biggest-ever bankruptcies, Italian media reported.

Tanzi will face charges of fraudulent bankruptcy in northern Parma along with 45 others including former finance director Fausto Tonna, who was already sentenced to two and a half years in the case in June 2005 on charges including manipulating stock market prices.

Also in the dock will be Tanzi`s brother Giovanni.