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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

             Tuesday, February 13, 2001, Vol. 2, No. 31


                            Headlines


B E L G I U M

NORDIFA:  Court Delays Purchase Decision for Textile Group


G E R M A N Y

EM.TV:  Top Honchos Seek to End Inner Rift


R U S S I A

MEDIA-MOST:  Berezovsky to Bail Out Media Most


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

VSEOBECNA UVEROVA:  Slovakia Fears Vseobecna Privatization


S P A I N

ARESBANK:  Spanish Partners Refuse to Contribute More Funds
SINTEL:  Seeks Industrial Partner


U N I T E D   K I N G D O M

CHRISTMAS PARTIES LTD:  Notice of Creditors Meeting
CORUS:  Unions Urge Steelmaker to Cut Workers' Hours
CRUBE INTERNATIONAL:  Fish Freezer Firm Collapses
GETAWAY (UK) LTD:  Notice of Creditors Meeting
INCHHEAD LTD:  Notice of Creditors Meeting

KATALIN ENTERPRISE LTD:  Notice of Creditors Meeting
MILLENNIUM DOME:  Duke May Help in Dome Bid
MTA DESIGN LTD:  Notice of Creditors Meeting
MARTIN LEACH PUBLISHING GROUP LTD:  Notice of Creditors Meeting
METWELD COMPONENTS LTD:  Notice of Creditors Meeting

REALLY SUPER FOOD CO LTD:  Notice of Creditors Meeting
ROB BROWN TRANSPORT LTD:  Notice of Creditors Meeting
ROGER ROSS LTD:  Notice of Creditors Meeting
SCOPEUNIT LTD:  Notice of Creditors Meeting
SOUTHERN WATER:  Power Firm May Sell Southern Water

ZENITH CONTRACT INTERIORS LTD:  Notice of Creditors Meeting


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


NORDIFA:  Court Delays Purchase Decision for Textile Group
----------------------------------------------------------
The commercial court in Liege has delayed its decision on the
purchase of Belgian textiles group Nordifa, which was declared
insolvent in November, according to La Libre Belgique & World
Reporter in its February 8 edition. One of the candidates
demanded that the debate on the acquisition be reopened.

Sioen signed an agreement on January 19 to buy the company, but
then, de Saedeleir presented itself at the end of January as
another buyer. The court still has to decide whether debate will
reopen and will decide in favor of one of the two offers.


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

EM.TV:  Top Honchos Seek to End Inner Rift
------------------------------------------
Media group EM.TV & Merchandising AG is seeking to bring an end
on Wednesday evening to the recent in-fighting between its chief
executive Thomas Haffa and Nickolaus Becker, chairman of the
supervisory board, concerning the possible investment by Kirch
media group, Die Welt & World Reporter said in its February 8
edition.

Meanwhile, Haffa is reportedly willing to put forward 30 million
euros of personal money to smooth the company's path to operating
capital.


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

MEDIA-MOST:  Berezovsky to Bail Out Media Most
----------------------------------------------
Exiled Russian media tycoon Boris Berezovsky has offered to put
up a loan of $50 million working capital to prevent Media-Most
from coming under state control, Phillips Publishing
International said in its February 9 edition. He also said that
he would try to open debt negotiations with Media-Most creditors
Credit Suisse First Boston, to whom the media conglomerate owes
$262 million.

Meanwhile, a consortium of investors led by CNN founder Ted
Turner has recently expressed an interest to buy around $320
million in shares in the Russian independent broadcaster. The
state has blocked the sale.


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

VSEOBECNA UVEROVA:  Slovakia Fears Vseobecna Privatization
----------------------------------------------------------
Slovakia has launched the privatization of Vseobecna Uverova
Banka (VUB), but there are fears it may fail to attract much
interest from investors, the Financial Times said in its February
11 edition.

No potential buyer has so far has publicly expressed interest in
VUB, which is less attractive because it is exposed to Slovakia's
struggling corporate sector.

Last week, Bank Austria Creditanstalt confirmed that it and its
merger partner HypoVereinsbank would not take part in the bid.
Unicredito Italiano, which was strongly tipped to take part, also
said it had not yet made a decision. Other potential bidders are
Citibank and GE Capital of the US, and Societe Generale and
Credit Agricole of France.

To make the bank sellable, the Slovak government has carved out
Sk66 billion of non-performing loans and raised VUB's share
capital to Sk13 billion.

Chief executive Ladislav Vaskovic said that 18 percent of loans
are now non-performing. The management has also cut staff from
8,300 in 1997 to 5,600, tightened credit procedures and refocused
on the retail business, recently introducing consumer lending and
Internet banking.


=========
S P A I N
=========

ARESBANK:  Spanish Partners Refuse to Contribute More Funds
-----------------------------------------------------------
Aresbank's Spanish shareholders, BBVA, BSCH, SEPI and Banco
Atlantico, have informed their Arab partners that they want to
pull out from the loss-making bank and would not contribute any
more funds to the bank, La Vanguardia & World Reporter said in
its February 8 edition.

Both groups of partners subscribed to a Pta5.5 billion capital
increase in December in order to finance a Pta13.2 billion
guarantee that had been ordered by a Marbella court. However, the
Pta5.5 billion was not enough to cover the guarantee and enable
Aresbank to remain in operation.

Its Arab partners (Libyan Arab Foreign Bank, Kuwait Foreign Bank
and Credit Populaire d'Algerie) have proposed a new capital
increase of Pta7 billion, but have asked the Spanish partners to
subscribe to it.

The Spanish partners refused to comply with any alternative,
which involve them having to contribute more money, while there
is no viability plan for Aresbank, which has been involved in
numerous corruption cases.


SINTEL:  Seeks Industrial Partner
---------------------------------
Telecom systems and network installation company Sintel, which
has suspended payments and debts of around 144 million euros, is
in negotiation with several business groups in order to save it
from liquidation, Expansion & World Reporter said in its February
8 edition.

According to some sources, Sintel could emerge from its crisis if
contracts with Telefonica were maintained with preferential
conditions and if a labor force adjustment plant was completed.


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

CHRISTMAS PARTIES LTD:  Notice of Creditors Meeting
---------------------------------------------------
IA 1986 Section: 98 Creditors
Meeting Time: 12.00 pm
Meeting date: 15/01/01
Meeting address: 10-12 New College Parade Finchley Road
Meeting City Code: London NW3 5EP
Authorized by: J M Liddiard Director 03/01/01
Last day for proxy: 12/01/01
Proxy address: 10-12 New College Parade Finchley Road London NW3
5EP Liquidators: Kian Seng Tan
Firm Name: K S Tan & Co
Address: 10-12 New College Parade Finchley Road London NW3 5EP


CORUS:  Unions Urge Steelmaker to Cut Workers' Hours
----------------------------------------------------
Steel unions are urging Corus to save thousands of jobs in plants
faced with closure by cutting the hours of employees, according
to The Observer in its February 11 edition. Part of this plan is
the government's contribution of funds to retrain affected
workers.

On February 1, Corus announced 6,050 job cuts across its UK
operations. Ebbw Vale in Wales is to shut completely, while
Llanwern, Shotton and Bryngwyn will have partial shutdowns, along
with Teesside in the North East.

After meetings with angry union officials, Corus chairman Sir
Brian Moffat agreed to a two-week pause before the statutory
period of union consultation over the job cuts.

ISTC general secretary Michael Leahy would not confirm details of
the package, but sources from ISTC, one of the country's
wealthiest unions, claimed that some government support may be
acceptable under EU rules.


CRUBE INTERNATIONAL:  Fish Freezer Firm Collapses
-------------------------------------------------
Crube International, a fish-freezing business based in Scotland,
is in receivership, The Scotsman said in its February 8 edition.

Cash flow problems and competitive pressures within the industry
principally caused the receivership.

The company, which provides a sophisticated freezing service to
the fish industry, has 21 staff and has a turnover of 1.7 million
pounds.


GETAWAY (UK) LTD:  Notice of Creditors Meeting
----------------------------------------------
IA 1986 Section: 98 Creditors
Meeting Time: 11.00 am
Meeting date: 15/01/01
Meeting address: Highfield Court Tollgate
Meeting City Code: Chandlers Ford SO53 3TZ
Authorized by: C Devlin Director 02/01/01
Last day for proxy: 12/01/01
Proxy address: Highfield Court Tollgate Chandlers Ford SO53 3TZ
Firm Name: BKL Weeks Green
Address: Highfield Court Tollgate Chandlers Ford SO53 3TZ


INCHHEAD LTD:  Notice of Creditors Meeting
------------------------------------------
IA 1986 Section: 98 Creditors
Meeting Time: 10.15 am
Meeting date: 15/01/01
Meeting address: 60-62 London Road
Meeting City Code: Kingston upon Thames KT2 6QZ
Authorized by: C Boughton Director 18/12/00
Last day for proxy: 12/01/01
Proxy address: 60-62 London Road Kingston upon Thames KT2 6QZ
Liquidators: Philip Weinberg
Firm Name: Marks Bloom
Address: 60-62 London Road Kingston upon Thames KT2 6QZ


KATALIN ENTERPRISE LTD:  Notice of Creditors Meeting
----------------------------------------------------
IA 1986 Section: 98 Creditors
Meeting Time: 12.00 pm
Meeting date: 15/01/01
Meeting address: 641 Green Lanes
Meeting City Code: London N8 0RE
Authorized by: K Little Director 14/12/00
Last day for proxy: 12/01/01
Proxy address: 641 Green Lanes London N8 0RE
Firm Name: Alexander Lawson & Co
Address: 641 Green Lanes London N8 0RE


MILLENNIUM DOME:  Duke May Help in Dome Bid
-------------------------------------------
The Duke of Westminster is poised to take a majority stake in the
Legacy consortium in hopes of winning control of London's
Millennium Dome, The Sunday Times said.

The Duke, whose family fortune is estimated at 3.75 billion
pounds, was in talks during the weekend to take a quarter stake
in Legacy, which risks failing in its bid to turn the Dome into a
high-tech business park.

Civil engineering company Pell Frischmann, which was shortlisted
for the Dome, said last week it was hoping to do a joint bid with
Westminster.


MTA DESIGN LTD:  Notice of Creditors Meeting
--------------------------------------------
IA 1986 Section: 48 Creditors
Meeting Time: 11.00 am
Meeting date: 15/01/01
Meeting address: 84 Grosvenor Street
Meeting City Code: London W1X 9DF
Authorized by: L A Manning Joint Administrative Receiver 21/12/00
Last day for proxy: 12/01/01
Proxy address: 84 Grosvenor Street London W1X 9DF
Firm Name: Kroll Buchler Phillips
Address: 84 Grosvenor Street London W1X 9DF


MARTIN LEACH PUBLISHING GROUP LTD:  Notice of Creditors Meeting
---------------------------------------------------------------
IA 1986 Section: 98 Creditors
Meeting Time: 11.15 am
Meeting date: 15/01/01
Meeting address: 8 Baker Street
Meeting City Code: London W1U 3LL
Authorized by: M G G Leach Director 22/12/00
Firm Name: BDO Stoy Hayward
Address: 8 Baker Street London W1U 3LL


METWELD COMPONENTS LTD:  Notice of Creditors Meeting
----------------------------------------------------
IA 1986 Section: 48 Creditors
Meeting Time: 10.00 am
Meeting date: 15/01/01
Meeting address: 8 Baker Street
Meeting City Code: London W1U 3LL
Authorized by: S J Michaels Joint Administrative Receiver
Last day for proxy: 12/01/01
Proxy address: 8 Baker Street London W1U 3LL
Firm Name: BDO Stoy Hayward
Address: 8 Baker Street London W1U 3LL


REALLY SUPER FOOD CO LTD:  Notice of Creditors Meeting
------------------------------------------------------
IA 1986 Section: 98 Creditors
Meeting Time: 11.00 am
Meeting date: 15/01/01
Meeting address: 141 Great Charles Street
Meeting City Code: Birmingham B3 3LG
Authorized by: P S Drew Director 21/12/00
Last day for proxy: 12/01/01
Proxy address: 141 Great Charles Street Birmingham B3 3LG
Liquidators: Henry Edward Hayes
Firm Name: Poppleton & Appleby
Address: 141 Great Charles Street Birmingham B3 3LG


ROB BROWN TRANSPORT LTD:  Notice of Creditors Meeting
-----------------------------------------------------
IA 1986 Section: 98 Creditors
Meeting Time: 11.00 am
Meeting date: 15/01/01
Meeting address: 1-2 Little King Street
Meeting City Code: Bristol BS1 4HW
Authorized by: R M Brown Director 02/01/01
Last day for proxy: 12/01/01
Proxy address: 1-2 Little King Street Bristol BS1 4HW
Firm Name: Moore Stephens Booth White
Address: 1-2 Little King Street Bristol BS1 4HW


ROGER ROSS LTD:  Notice of Creditors Meeting
--------------------------------------------
IA 1986 Section: 98 Creditors
Meeting Time: 10.30 am
Meeting date: 15/01/01
Meeting address: Russell Square House 10-12 Russell Square
Meeting City Code: London WC1B 5LF
Authorized by: D Spencer Director
Last day for proxy: 12/01/01
Proxy address: 16-17 Boundary Road Hove BN3 4AN
Liquidators: K W Touhey
Firm Name: Chantrey Vellacott
Address: 16-17 Boundary Road Hove BN3 4AN


SCOPEUNIT LTD:  Notice of Creditors Meeting
-------------------------------------------
Other name: Bodyline Clothing Co
IA 1986 Section: 98 Creditors
Meeting Time: 12.30 pm
Meeting date: 15/01/01
Meeting address: The Rutland Square Hotel St James Street
Meeting City Code: Nottingham
Authorized by: S Johal Director 20/12/00
Firm Name: Savilles
Address: 1 North Road The Park Nottingham NG7 1AG


SOUTHERN WATER:  Power Firm May Sell Southern Water
---------------------------------------------------
Scottish Power is considering selling Southern Water for more
than a billion pounds ($1.5 billion) to refinance the business,
the Sunday Telegraph said.

According to city analysts, investors would welcome the disposal
of Southern Water, which the Scottish Power acquired for 1.7
billion pounds in 1996.

The group has appointed Credit Suisse First Boston to advise on a
sale of Southern Water or a restructuring of its finances.


ZENITH CONTRACT INTERIORS LTD:  Notice of Creditors Meeting
-----------------------------------------------------------
IA 1986 Section: 138 Creditors
Meeting Time: 10.00 am
Meeting date: 15/01/01
Meeting address: 24 Blythswood Square
Meeting City Code: Glasgow G2 4QS
Authorized by: Blair C Nimmo Joint Receiver 27/12/00
Last day for proxy: 12/01/01
Proxy address: 24 Blythswood Square Glasgow G2 4QS
Firm Name: KPMG
Address: 24 Blythswood Square Glasgow G2 4QS



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
USA, and Beard Group, Inc., Washington, DC USA. Lexy Mueller,
Salve M. Mordeno and Cristina Pernites, Editors.

Copyright 2001.  All rights reserved.  ISSN 1529-2754.

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