Michel,
Well you will not like to hear this, but I have run into the same problem on a DT crankcase and made 3/16-27 threaded inserts in order to maintain the original thread series. Just to be perverse I suppose. Since I did not have the tap, I single point thread cut the insert in the lathe. It is a small thread to cut this way, but it can be done, only just. This only works if you have sufficient material around the threaded hole to screw the oversize insert into, so in that regard you need even more radial space than a Helicoil.
On another project, not wishing to go through the same ordeal I purchased some thread repair compound from Loctite. But I have to say I was very disappointed in this product, as the material never seemed to set up proper. I even tried it twice, making sure to follow the directions the second time, but no improvement. I have also tried structural epoxies. These do set up, but I have not yet found one that is as hard as I would like to see for this type of application. O.k. for fixing a wobbly thread, but not for taking the primary load. I use a nylon screw as a core ( you will still need a release agent) so as to pick up the existing thread.
-Doug