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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     

                       E U R O P E

          Monday, June 12, 2000, Vol. 1, No. 25


                       Headlines

C Z E C H   R E P U B L I C

KOMERCNI BANKA: Delayed Sale for "Very Deep Forensic Audit"
KOVOHUTE BRIDLICNA: Court Declares Steel Company Bankrupt
INVESTICNI A POSTOVNI: Third Largest Bank Sits in Uncertainty
NOVA HUT: Seeks Strong Strategic Partner


R U S S I A

URALAVTOPRITSEP: May Open Bankruptcy Proceedings


S L O V A K   R E P U B L I C

SLOVAK RAILWAYS(ZSR): Under Financial Scandal


U N I T E D   K I N G DO M

1ST LINE COMMUNICATIONS: Mobile Phone Company Closes
ACES UK: Notice of Creditors' Meeting
ARGENTO LTD: Notice of Liquidation Proceedings
ASHWORTH & FLETCHER: Notice of Creditors' Meeting
BELL BROTHERS: Notice of Liquidation Proceedings

BRITANNIA SECURITY: Notice of Liquidation Proceedings
BSKYB: Picture Getting a Little Blurred
CARNFAST LTD: Notice of Creditors' Meeting
COLUMBUS GROUP: Sold Shares Under DTI Inquiry
COYLE ANTIQUES: Notice of Liquidation Proceedings

DICTAGOLD LTD: Notice of Creditors' Meeting
FIRE PROTECTION: Notice of Liquidation Proceedings
GREAT UNIVERSAL: S & P May Cut Ratings
JUPITER: Lost Business Blamed on Independent Financial Advisers
MATCHMERE LTD: Notice of Liquidation Proceedings

MERIDIAN CARE: Notice of Liquidation Proceedings
MIDLAND INDUSTRIAL: Notice of Liquidation Proceedings
OPTICAL DISC: Notice of Creditors' Meeting
OXENFOORD HOME: Notice of Liquidation Proceedings
PLATSTON LTD: Notice of Creditors' Meeting

POINT CLASSICS: Notice of Creditors' Meeting
POINT GROUP: Notice of Creditors' Meeting
POINT SOUND: Notice of Creditors' Meeting
SLATER PROPERTY: Notice of Creditors' Meeting
SMALLVENT LTD: Notice of Creditors' Meeting
WEST OF SCOTLAND: Notice of Creditors' Meeting


===========================
C Z E C H   R E P U B L I C
===========================

KOMERCNI BANKA: Delayed Sale for "Very Deep Forensic Audit"
-------------------------------------------
Daily Deal  June 8, 2000

PRAGUE-The Czech government said on Wednesday it won't meet its
goal of selling its stake in the country's largest commercial
bank, Komercni Banka as, this year.

Goldman, Sachs & Co., which is advising the government, has
delayed the sale for "very deep forensic audits," Deputy Finance
Minister Jan Mladek told reporters Thursday. "This does not mean
a new audit, but a supplementary inquiry," he said.

At the start of this year, the government bought Kcs60 billion
($1.6 billion) of bad loans at a discount of 60%. The sum
represented about one-third of Komercni's loan portfolio.

The government also bought most of the shares issued in a rights
issue this year, bringing its stake to 60%.

Analysts expect German, Irish and Spanish banks to be among those
interested in Komercni Banka. Finance Minister Pavel Mertlik,
however, had said on Wednesday that the government might still
have to provide guarantees for some remaining loans. One analyst
at a Western investment bank estimated that there could be up to
Kcs100 billion of suspect debt still in KB's portfolio.* -James
Drake


KOVOHUTE BRIDLICNA: Court Declares Steel Company Bankrupt
---------------------------------------------------------
CTK Business News Wire        June 7, 2000

The Regional Commercial Court in Ostrava on Thursday, June 1,
declared bankrupt Kovohute Bridlicna aluminium processor,
according to data released on the Justice Ministry's web pages.

Kovohute was the largest domestic producer of aluminium foil and
packaging for the food, tobacco and pharmaceutical industries
before transferring its assets to the Hutni zavody Bridlicna
(HZB) subsidiary.

The bankruptcy petition was filed by Metalimex trading company in
summer 1999. Five other creditors gradually joined the petition
as did Kovohute Bridlicna itself. Jan Zetocha was appointed
administrator of the company's bankruptcy assets.

Kovohute Bridlicna in July 1999 sold all its production assets
and related loan capital worth Kc960m to HZB. HZB's management
then gave up its plan to obtain money for the payment of debts
through a share capital hike at HZB to up to Kc1bn and reached
agreement with banks on a gradual sale of assets to strategic
investors.

Then HZB's management concluded a preliminary agreement on the
sale of selected assets of its aluminium foil rolling plant with
the French firm Pechiney. Pechiney would pay almost Kc1.5bn for
them which would allow for the payment of more than a half of the
Kc3bn debts that HZB took over from Kovohute Bridlicna together
with production.

Last year Kovohute Bridlicna after several years of profits for
the first time plunged into the red, posting a Kc90.686m
unaudited loss, against a Kc20.961m net profit in 1998.

Kovohute Bridlicna had Kc2.058bn revenues last year, Kc1.72bn
lower than in 1998 due to the sale of the company's production
part to HZB. Kovohute's debts were to have been lowered by
Kc1.751bn to Kc2.293bn last year by transferring part of them to
HZB.

Kovohute Bridlicna owns 100 pct of KB Aluminium Poland, 98.79 pct
of Tapa Tabor, 51 pct of Kovohute Armental, 25 pct of Lombard
Industrial and one pct of HZB.

Kovohute Bridlicna's board announced today that it will appeal
the verdict.

In a separate statement, Hutni zavody Bridlicna said Kovohute
Bridlicna's bankruptcy will not affect it.

"Kovohute is only one of our shareholders. Production is going on
without problems," said HZB CEO Jiri Orlik. Orlik also said that
Kovohute is currently employing only three people and owns just 1
pct of HZB. The remaining 99 pct is owned by Tapa Tabor, a
subsidiary of Kovohute Bridlicna.


INVESTICNI A POSTOVNI: Third Largest Bank Sits in Uncertainty
-------------------------------------------------------------
The Praque Post   June 7, 2000

As the future of the Czech Republic's third-largest bank sits in
uncertainty, its ready-to-cash-out owners are finally getting
some nibbles.

At least two foreign investors have begun nosing around the
troubled finances of Investicni a Postovni banka (IPB),
presumably to decide if they want to buy the 46 percent stake
that's up for grabs.

Unicredito Italiano, Italy's third-largest bank, and KPB, a
Belgian bank that owns a majority of another Czech bank, have
recently decided to take a look at IPB, according to company
officials and media reports. Several auditors, including
PricewaterhouseCoopers and Arthur Andersen, are poring over IPB's
books as part of the process.

Results of the audits should be announced at a June 28 general
meeting, and a buyer is expected to step forward by then, said
IPB spokesman Jan Rezek.

It's an ambitious target for IPB and its largest stakeholder,
Nomura Securities. The Japanese investment bank, which bought its
46 percent of the bank's shares in 1998, has had a rocky road as
the first company to take a Czech bank into privatization.

It has been looking to cash out since last fall, but responses
have been slim. Analysts say that's no surprise. The bank
struggles with a mountain of bad debt on its balance sheet and is
under investigation by the Czech National Bank (CNB) for letting
reserves fall to unacceptable levels. Bank officials say they are
stymied in their efforts to increase share capital -- a move that
would help satisfy the CNB -- by suits from minority
shareholders.

German insurer Allianz has been one of the few companies to take
an interest in IPB -- and its headaches. The company is looking
to expand in Central Europe, and acknowledged last month that it
was eyeing IPB's insurance division and a portion of Nomura's
bank shares.

Analysts say Allianz can gain a huge new distribution network for
its insurance products by becoming part of IPB.

Unicredito has been quiet about its interest in IPB, not
returning calls from the media, even as IPB officials trumpet
Unicredito's interest. Finance Minister Pavel Mertlik told Czech
media that Unicredito officials talked to him about IPB. IPB
chairman Jan Klacek even went as far as calling Unicredito a
buyer, but Czech media quoted sources close to Unicredito as
saying the Italian bank was only taking an initial look.

This led some to question whether IPB was grasping at straws,
trying to appear as attractive as possible as it scrambles to
line up share capital to satisfy the CNB.

Analysts, however, say Unicredito's interest would make sense.
The bank, the 18th-largest in Europe, has partnered with Allianz
in buying into banks recently in Bulgaria and Poland. And
Unicredito officials will at least confirm they are looking for
more opportunities in Central Europe.

KBC officials were equally cagey about recent reports of their
interest. Spokesman Jan Stolar told The Prague Post that KBC
wants to expand in the country, but wouldn't confirm if they'd
zeroed in on a target like IPB.

If they did, it could lead to the creation of one of the largest
banks in Central Europe, said Jiri Stanik, a banking analyst at
Raiffeisen Capital.

That's because KBC is already a majority stakeholder in another
large Czech bank, Ceskoslovenska obchodni banka (CSOB).

If KBC also bought into IPB, it opens the possibility of a merger
between CSOB and IPB, Stanik said.

"If a foreign company owns significant pieces of two companies in
the same industry, a merger is always something that might make
sense," he said. "It's definitely something the anti-monopoly
office would have to look at. But CSOB would like to enter retail
banking, and such a merger would let them do that."

Stolar acknowledged that the company wants to expand in the Czech
Republic, either by increasing its share in CSOB, or by a
strategic acquisition. But he wouldn't discuss IPB.

"If there is a good offer on the market, we will take advantage
of it," he said. "But we are not on any kind of 'before
Christmas' purchase. We have no deadline."

Either company's interest would be a vote of confidence for IPB.
Banking industry experts question whether an investor would take
on IPB without help from the Czech government in getting rid of
the bad debt.

Nomura officials have also complained that they need state help
if they're going to sell IPB. They also argue they deserve it,
since other Czech banks privatized after IPB got such bad debt
transfers.

State officials have staunchly said that Nomura and IPB are on
their own, though they do admit they would look at a bailout if
IPB were on the brink of total collapse.

Letting this happen would have serious implications for the Czech
economy and banking sectors.

Speculation rose late in May that such an event might be nearing.
That's because Mertlik and Czech National Bank Governor Josef
Tosovsky confirmed that they had met with KBC officials during
the International Monetary Conference in Paris in late May.

Czech newspapers initially claimed the meetings were about KBC
investing in IPB. But Mertlik and Tosovsky later said investment
in IPB wasn't discussed.

Though it looks suspicious, Stanik of Raiffeisen said it's
entirely possible that nothing fishy took place in Paris.

"If I'm a bank looking at investing in an institution as large as
IPB, it's perfectly normal to get the opinion of these government
officials," he said. "And it's perfectly normal that government
officials would talk to me. IPB is too big to fail."


NOVA HUT: Seeks Strong Strategic Partner
----------------------------------------
Daily Deal June 8, 2000

PRAGUE - The Czech government Wednesday approved a plan to
complete the privatization of the state's majority stake in
troubled steel giant Nova Hut a.s. by directly selling the stake
to a strategic partner.

However, it does not consider Swiss trading company Duferco SA a
likely candidate, Finance Minister Pavel Mertlik said Wednesday.

Earlier this month, Duferco CEO Bruno Bolfo said he had told
Credit Suisse First Boston, empowered by the government to search
for a strategic partner for Nova Hut, of his company's desire to
buy at least some of the government's 66.31% equity holding.

"Duferco doesn't have the capital to buy our entire stake, and
we're only going to sell all of it to one, single bidder,"
Mertlik said. "We want an investor who has sufficient funds to
purchase our stake and complete restructuring." However, Mertlik
did not rule out cooperation with Duferco, saying it was a good
company, which recently has been involved in crisis management at
other steel companies around the world.

The government has asked Mertlik to secure an operating loan of
up to Kcs750 million ($19.8 million) for Nova Hut from state
bailout institution Konsolidacni Banka by June 30.


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

URALAVTOPRITSEP: May Open Bankruptcy Proceedings
-------------------------------------------
Economic News    June 8, 2000

At the beginning of June the Arbitration Tribunal of the
Chelyabinsk region will probably consider the case about
declaring the public company Uralavtopritsep bankrupt and make
decision about opening the bankruptcy proceedings or introducing
the external management.  

Last year the company manufactured the production at the rate of
120 mln. roubles. According to the results of the year 1999 the
company not only increased the production volumes but also
diminished the losses considerably.

The company mastered the batch production of semitrailers CHMZAP-
9906036 for the motor-cars MAZ and KamAZ. This year the company  
plans to increase production volume by 20-30%.


=============================
S L O V A K   R E P U B L I C
=============================

SLOVAK RAILWAYS(ZSR): Under Financial Scandal
-------------------------------------------
BBC Monitoring Europe    June 8, 2000

On the occasion of the international seminar on transformation of
European railways, Slovak Railways (ZSR) General Director Andrej
Egyed evaluated the current state and situation in ZSR.

After 1989 the volume of the transported goods significantly
dropped. The previous regime left the railways devastated, with
old technical equipment. Regarding the financing of ZSR, the
state's task was underestimated, the financing of ineffective
services ordered in public interest was not solved, and financial
scandals also appeared.

These and other facts factored into the current critical state of
ZSR. It can be said that ZSR's transformation did not take place.
The unsolved problems are deepening, and if the complex
transformation is not solved the company will collapse.

The prepared transformation and restructuring proposal plans to
create an ZSR shareholder company, which will function along with
a state firm Zeleznicna Spolocnost (Railway Company). The fast
revival of ZSR is impossible without getting rid of redundant
property and working force.

What's envisaged is that the operation of the railway and the
activities of the operator will be divided from other services.
The main activity would be done by the shareholder company and
the services by the state company. The consolidation would be
ensured by the profit achieved by January 1, 2001. There will be
created conditions for settling property divisions and debts, and
for the entry of a foreign investor.

Complete privatisation could be realised by 2005, in the
commercial activity in freight transfer and personal
transportation. The success depends on internal integration of
ZSR management and on the attitude of government and parliament
towards the acute problems of ZSR.


==========================
U N I T E D   K I N G DO M
==========================

1ST LINE COMMUNICATIONS: Mobile Phone Company Closes
----------------------------------------------------
Financial Times     June 8, 2000

Up to 2,000 jobs have been lost in Wales as 1st Line
Communications, a mobile phone company, closed its doors
yesterday.  The BBC last night said the company had been in
difficulty and had ceased trading after a creditor withdrew
support. Most of the workers were based at call centres in
Cardiff and Swansea. Call centres employ about 12,000 people in
Wales, and have boosted the local economy. 1st Line was launched
in July 1998 and had 250,000 mobile phone customers.


ACES UK: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK

Company Name: Aces UK Ltd
IA 1986 Section: 98 Creditors
Meeting Time: 11.00 am
Meeting date: 15/06/00
Meeting address: Windsor House Barnett Way
Meeting City Code: Barnwood GL4 3RT
Authorised by: K J Appleyard Director 23/05/00
Last day for proxy: 14/06/00
Proxy address: Windsor House Barnett Way Barnwood GL4 3RT
Liquidators:
Firm Name: Hazelwoods
Address: Windsor House Barnett Way Barnwood GL4 3RT


ARGENTO LTD: Notice of Liquidation Proceedings
-------------------------------------------
Insolvency UK

Company Name: Argento Ltd
Company No: 3449324
Com. Business: Wholesale Silver Jewellery
Appointed on: 25/05/00
Type: Creditors
Appointed by: Creditors and Members
Liquidators: John Kelmanson IPno: 4866
Firm Name: Kelmanson Partnership
Address: Avco House 6 Albert Road
City Postcode: Barnet EN4 9SH


ASHWORTH & FLETCHER: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK

Company Name: Ashworth & Fletcher Engineering Ltd
IA 1986 Section: 98 Creditors
Meeting Time: 11.30 am
Meeting date: 15/06/00
Meeting address: The Rhinewood Inn Glazebrook Lane
Meeting City Code: Glazebrook WA3 5BB
Authorised by: J W Dobson Director 25/05/00
Last day for proxy: 14/06/00
Proxy address: 348-350 Lytham Road Blackpool FY4 1DW
Liquidators: Richard I Williamson
Firm Name: Campbell Crossley & Davis
Address: 348-350 Lytham Road Blackpool FY4 1DW


BELL BROTHERS: Notice of Liquidation Proceedings
-------------------------------------------
Insolvency UK

Company Name: Bell Brothers Engineering Ltd
Company No: IR
Com. Business:
Appointed on: 25/05/00
Type: Members
Appointed by: Members
Liquidators: John Mulderrigg Ltd IPno:
Firm Name:
Address: Dodder House 2 Dodder Park Drive
City Postcode: Dublin 14


BRITANNIA SECURITY: Notice of Liquidation Proceedings
-------------------------------------------
Insolvency UK

Company Name: Britannia Security (Northern) Ltd
Company No: 3597314
Com. Business: Manned Guarding
Appointed on: 25/05/00
Type: Creditors
Appointed by: Creditors and Members
Liquidators: Barry D Lewis IPno: 2048
Firm Name: Harris Lipman
Address: 2 Mountview Court 310 Friern Barnet Lane
City Postcode: London N20 0YZ


BSKYB: Picture Getting a Little Blurred
-------------------------------------------
The Street   June 8, 2000

As shares in BSkyB continue to fall many investors are wondering
if the dip is really an opportunity. But you know what they say -
only fools rush in. Before investors jump in they should consider
that many sector specialists are uncertain about BSkyB's medium-
term prospects.

This week's BSkyB slide was precipitated by the news that
Vivendi, the French-water-to-media conglomerate, and German media
giant Kirch were respectively selling a 3% and 4% stake in the
UK's biggest pay-television company. Vivendi politely said it
needs the money to participate in UMTS licence auctions in
France. Kirch wants to fund the introduction of new television
services in Germany. But maybe there are other reasons they are
selling, and if that is the case, then they may scale back their
stakes in BSkyB even further despite protestations to the
contrary. It is even not out of the question that Rupert Murdoch,
the company's biggest shareholder, might cut his 40% stake in
BSkyB when a ?1.2 billion convertible bond issue convertible with
BSkyB stock matures next year.

While sector watchers do not see a stake cut by Murdoch as very
likely, there is a lack of clarity about the status and timing of
BSKyB's position within Platco, Newscorp's new masterplan for all
the members of its TV and satellite stable.

For the time being though, the company has more pressing
financial matters to deal with. Firstly, BSkyB will need to find
at least ?2 billion to secure, in the upcoming auction,
Premiership football rights, the result of which is due in July.

If BSkyB loses the auction it will be in big trouble as football
has been its main drawing point. The company also has to cough up
another ?300 million in stock to pay for the online sports
betting company Sports Internet Group which BSkyB agreed to buy
in May. Some media pundits are even suggesting that BSkyB might
cancel the purchase although the company is denying this.

Then there is the issue of new investment to bring the company's
set-top box up to date. BSkyB chief executive Tony Ball admitted
there is a new generation set-top box in the pipeline, sending
financial analysts running for their calculators.

All this should also be viewed within increasing competition in
the sector. At the moment, BSkyB is still the market leader in
British pay television by a long shot, with 3.4 million
subscribers compared to 670,000 for its closets rival Ondigital.

But fresh competition is looming wide and large. Firstly,
whatever the outcome of the DTI inquiry, the prospect of a United
News and Media merged with either Carlton Communications or
Granada, who jointly own Ondigital, looks set to create a
stronger UK rival to the Murdoch empire. In addition, cable
television companies like NTL and Telewest will be in a stronger
position to compete with BSkyB when broadband technology goes on
stream and into people's households. Telewest plans to roll out
its digital service this summer and NTL is promising to do the
same by autumn. All of these rivals have announced major spending
and expansion plans which will put them toe-to-toe with BSkyB.

BSkyB boss Tony Ball is going to have to convince investors that
he has a clear strategy to navigate these increasingly rough
waters before the market can draw a clear and positive picture
for the company's medium-term future.


CARNFAST LTD: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK

Company Name: Carnfast Ltd
Other name: Carnfast Group
IA 1986 Section: 48 Creditors
Meeting Time: 10.00 am
Meeting date: 15/06/00
Meeting address: 93 Queen Street Meeting
City Code: Sheffield S1 1WF
Authorised by: D L Woolley Joint
Administrative Receiver 22/05/00
Last day for proxy: 14/06/00
Proxy address: 93 Queen Street Sheffield S1 1WF
Liquidators:
Firm Name: Poppleton & Appleby
Address: 93 Queen Street Sheffield S1 1WF


COLUMBUS GROUP: Sold Shares Under DTI Inquiry
-------------------------------------------
The Times  June 9, 2000

COLUMBUS GROUP, the publishing firm part-owned by Nigel Wray, the
millionaire property financier, was raided by the Department of
Trade and Industry three times last year and faced investigations
for five months.

Details of the DTI raids were passed to The Times last night as
it emerged that Mr Wray, who is also deputy chairman of Columbus,
sold more than five million shares in the publishing group while
the investigations were ongoing. Mr Wray said he did not know
about the investigation.

It also emerged that the profits warning issued by the company in
September, came just three weeks after Mr Wray disposed of
shares.

The revelations of the share trading are being examined by the
DTI and could jeopardise the company's takeover plans with
Highbury House Communications, a small publishing company.

Institutional shareholders in Columbus, whose operating
businesses include Dateline, the nationwide lonely-hearts column,
were never told about the DTI investigations as each raid was
carried out under Section 447 of the Companies Act, which gives a
guarantee of confidentiality.

In June last year DTI officers raided Columbus's offices in North
London and took documents relating to Chart Search, a subsidiary
that runs mail order competitions. Later the same week the DTI
officials removed material relating to UK Prize Club, another
competition subsidiary.

In July the DTI conducted a third raid, launching an
investigation into Golden Standard, another mail order subsidiary
that sells "Our Lady of Lourdes Water" and other such curios. The
investigations carried on until October 27. No criminal
proceedings were brought by the DTI.

But on August 5 Nigel Wray sold some five million shares in
Columbus at 56p each, netting ?2.6 million. Mr Wray has been a
shareholder since the company's earliest days and is said to have
made a 400 per cent profit on the stake.

Jeremy Isaac, the Columbus general managing director, confirmed
last night that the DTI investigations had taken place. "Yes, the
DTI came to look at a couple of subsidiaries and all the
information asked for was provided. On the 27th of October it
ended."

Mr Wray, who is deputy chairman of Columbus and as such is
invited to all board meetings, said he was unaware of the DTI
inquiry. "I sold the shares having obtained the board's
permission. Then in early September they came to see me and told
me something was wrong."

Last summer KPMG, the accountancy firm, was brought in to carry
out a full audit of the firm at the request of Iain Gilchrist,
the former finance director who resigned after a series of stand
up rows with Mr Wray and Bruce Law, the former company secretary
who is now finance director. Mr Law, as company secretary, also
acted as a liaison between the DTI and Columbus.

A source close to the company said: "In June, when the DTI came
in the finance director suggested a profits warning. There was no
board meeting in July because everybody was on holiday. Then in
August the deputy chairman sells his shares so the profits
warning cannot be given.

"In September the company gave the profits warning that had been
discussed in June, but it was very weak. It had to be given again
in December."

Mr Wray is one of the most prolific company directors in the
City. Last week he announced the liquidation of Prestbury, the
property company. Earlier this year he launched the Knutsford
acquisition vehicle along with Archie Norman, the Shadow
Secretary of State for Trade and Industry, Julian Richer, the hi-
fi tycoon and Nick Leslau, the property millionaire.

He is also the chairman of Saracens Rugby Club and Burford, the
property investment company. He is also a director of Watford
Football Club, and Domino's Pizza Group. He was once a director
of Carlton Communications the media company, and Peoples Phone.


COYLE ANTIQUES: Notice of Liquidation Proceedings
-------------------------------------------
Insolvency UK

Company Name: Coyle Antiques Ltd
Company No: IR
Com. Business:
Appointed on: 25/05/00
Type: Creditors
Appointed by: Creditors
Liquidators: Michael Butler IPno:
Firm Name: Butler & Co
Address: 49 Fitzwilliam Square
City Postcode: Dublin 2


DICTAGOLD LTD: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK
Company Name: Dictagold Ltd
IA 1986 Section: 98 Creditors
Meeting Time: 11.00 am
Meeting date: 15/06/00
Meeting address: Clarence House High Street Bristol BS20 7EU
Liquidators:
Firm Name: IP Services
Address: 9 Woodhill Road Portishead Bristol BS20 7EU


FIRE PROTECTION: Notice of Liquidation Proceedings
-------------------------------------------
Insolvency UK

Company Name: Fire Protection (Europe) Ltd
Company No: 2704096
Com. Business: Fire Protection Systems
Appointed on: 25/05/00
Type: Creditors
Appointed by: Creditors and Members
Liquidators: A H Tomlinson IPno: 6585
Firm Name: A H Tomlinson & Co
Address: St Johns Court 72 Gartside Street
City Postcode: Manchester M3 3EL


GREAT UNIVERSAL:  S & P May Cut Ratings
-------------------------------------------
NEW YORK, June 8 - Standard & Poor's today placed its single-'A'
long-term corporate credit and senior unsecured ratings and its
'A-1' short-term corporate credit ratings on Great Universal
Stores PLC on CreditWatch with negative implications.


JUPITER: Lost Business Blamed on Independent Financial Advisers
-------------------------------------------
Financial Times   June 8, 2000

Jupiter, the fund manager, yesterday admitted it had lost
business in the wake of the dispute with Commerzbank, it s German
parent.

It refused to put a figure on the losses, but confirmed they were
'slightly higher than normal' over the past two days.

Jupiter pinned some of the blame on independent financial
advisers, who were accused of having 'rattled' some of its retail
investors.

Jupiter's admission came as it unveiled plans for a funds
supermarket company, to be established with Gartmore, M&G and
Threadneedle.


MATCHMERE LTD: Notice of Liquidation Proceedings
-------------------------------------------
Insolvency UK

Company Name: Matchmere Ltd
Company No: 1925908
Com. Business: Sportswear Retailers
Appointed on: 25/05/00
Type: Creditors
Appointed by: Creditors
Liquidators: Lawrence I Freedman IPno: 6749
Firm Name: Hodgsons
Address: George House 48 George Street
City Postcode: Manchester M1 4HF


MERIDIAN CARE: Notice of Liquidation Proceedings
-------------------------------------------
Insolvency UK

Company Name: Meridian Care Homes Ltd
Company No: 3624304
Com. Business: Nursing Home
Appointed on: 25/05/00
Type: Creditors
Appointed by: Creditors
Liquidators: Arif Anwar IPno: 8240
Firm Name: Rifsons
Address: 63-64 Charles Lane St Johns Wood
City Postcode: London NW8 7SB


MIDLAND INDUSTRIAL: Notice of Liquidation Proceedings
-------------------------------------------
Insolvency UK

Company Name: Midland Industrial Couplings Ltd
Previous Name: Easyeffect
Company No: 3435808
Com. Business: Market/Manufacture Couplings
Appointed on: 25/05/00
Type: Creditors
Appointed by: Creditors and Members
Liquidators: Dean Udall IPno: 8796
Firm Name: BKR Haines Watts
Address: Holbrook Court Northumberland Road
City Postcode: Portsmouth PO5 1DS


OPTICAL DISC: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK

Company Name: Optical Disc Management Ltd
IA 1986 Section: 48 Creditors
Meeting Time: 10.00 am
Meeting date: 15/06/00
Meeting address: The Landmark Hotel 222 Marylebone Road
Meeting City Code: London NW1 6JQ
Authorised by: M J Jervis Joint
Administrative Receiver 26/05/00
Last day for proxy: 14/06/00
Proxy address: Melton Street Euston Square London NW1 2EP
Liquidators:
Firm Name: Grant Thornton
Address: Melton Street Euston Square London NW1 2EP


OXENFOORD HOME: Notice of Liquidation Proceedings
-------------------------------------------
Insolvency UK

Company Name: Oxenfoord Home Farm (Breeders) Ltd
Company No: SC
Com. Business:
Appointed on: 25/05/00
Type: Creditors
Appointed by: Creditors
Liquidators: Thomas R Campbell IPno: 5122
Firm Name: T Hunter Thomson & Co
Address: 28 Alva Street
City Postcode: Edinburgh EH2 4QF


PLATSTON LTD: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK

Company Name: Platston Ltd
Other name: Interfacing Computer Cabling Ltd
IA 1986 Section: 98 Creditors
Meeting Time: 11.30 am
Meeting date: 15/06/00
Meeting address: 44 Old Hall Street
Meeting City Code: Liverpool L3 9EB
Authorised by: M Keefe Director 23/05/00
Last day for proxy:
Proxy address:
Liquidators: Jonathan R Booth
Firm Name: Parkin S Booth & Co Address: 44 Old Hall Street
Liverpool L3 9EB


POINT CLASSICS: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK

Company Name: Point Classics (UK ) Ltd
IA 1986 Section: 48 Creditors
Meeting Time: 10.00 am
Meeting date: 15/06/00
Meeting address: The Landmark Hotel 222 Marylebone Road
Meeting City Code: London NW1 6JQ
Authorised by: M J Jervis Joint Administrative Receiver 26/05/00
Last day for proxy: 14/06/00
Proxy address: Melton Street Euston Square London NW1 2EP
Liquidators:
Firm Name: Grant Thornton
Address: Melton Street Euston Square London NW1 2EP


POINT GROUP: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK

Company Name: Point Group Ltd
IA 1986 Section: 48 Creditors
Meeting Time: 10.00 am
Meeting date: 15/06/00
Meeting address: The Landmark Hotel 222 Marylebone Road
Meeting City Code: London NW1 6JQ
Authorised by: M J Jervis Joint Administrative Receiver 26/05/00
Last day for proxy: 14/06/00
Proxy address: Melton Street Euston Square London NW1 2EP
Liquidators:
Firm Name: Grant Thornton
Address: Melton Street Euston Square London NW1 2EP


POINT SOUND: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK

Company Name: Point Sound & Vision Ltd
IA 1986 Section: 48 Creditors
Meeting Time: 10.00 am
Meeting date: 15/06/00
Meeting address: The Landmark Hotel 222 Marylebone Road
Meeting City Code: London NW1 6JQ
Authorised by: M J Jervis Joint Administrative Receiver 26/05/00
Last day for proxy: 14/06/00
Proxy address: Melton Street Euston Square London NW1 2EP
Liquidators:
Firm Name: Grant Thornton
Address: Melton Street Euston Square London NW1 2EP


RBB REMOVALS: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK

Company Name: RBB Removals Ltd
IA 1986 Section: 98 Creditors
Meeting Time: 11.45 am
Meeting date: 15/06/00
Meeting address: 76 New Cavendish Street
Meeting City Code: London W1M 7LB
Authorised by: M C Rew Director 18/05/00
Last day for proxy: 14/06/00
Proxy address: 76 New Cavendish Street London W1M 7LB
Liquidators:
Firm Name: Berley
Address: 76 New Cavendish Street London W1M 7LB


SLATER PROPERTY: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK

Company Name: Slater Property Sales Ltd
IA 1986 Section: 138 Creditors
Meeting Time: 11.00 am
Meeting date: 15/06/00
Meeting address: Merchants House 7 West George Street
Meeting City Code: Glasgow
Authorised by: W David Robb Interim
Liquidator 17/05/00
Last day for proxy: 14/06/00
Proxy address: 12/16 South Frederick Street Glasgow
Liquidators:
Firm Name:
Address: 12/16 South Frederick Street Glasgow


SMALLVENT LTD: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK

Company Name: Smallvent Ltd
Other name: Eaglethorn Ltd
IA 1986 Section: 98 Creditors
Meeting Time: 11.45 am
Meeting date: 15/06/00
Meeting address: 76 New Cavendish Street
Meeting City Code: London W1M 7LB
Authorised by: C Dingwall Director 08/05/00
Last day for proxy: 14/06/00
Proxy address: 76 New Cavendish Street London W1M 7LB
Liquidators:
Firm Name: Berley
Address: 76 New Cavendish Street London W1M 7LB


WEST OF SCOTLAND: Notice of Creditors' Meeting
-------------------------------------------
Insolvency UK

Company Name: West of Scotland Estate Agents Ltd
IA 1986 Section: 138 Creditors
Meeting Time: 10.30 am
Meeting date: 15/06/00
Meeting address: Merchants House 7 West George Street
Meeting City Code: Glasgow
Authorised by: W David Robb Interim
Liquidator 17/05/00 Last day for proxy: 14/06/00
Proxy address: 12/16 South Frederick Street Glasgow



S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Trenton, NJ,
and Beard Group, Inc., Washington, DC.  Peter A. Chapman and
Sharon Cuarto, Editors.

Copyright 2000.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
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Information contained herein is obtained from sources believed to
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