/raid1/www/Hosts/bankrupt/TCREUR_Public/010710.mbx         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, July 10, 2001, Vol. 2, No. 133


                            Headlines

* A U S T R I A *

LIBRO AG: Seeks Buyer for Internet Subsidiary

* B E L G I U M *

LERNOUT & HAUSPIE: Questar to Distribute Products in Italy
LERNOUT & HAUSPIE: Inks Re-Publishing Deal With Marketing Results
SABENA SA: Government May Sell Stakes in Sabena Subsidiaries

* F R A N C E *

AIR LIBERTE: Two serious Bidders Seen for French Airlines
WARNACO INC.: Faces Lawsuit From Underneath.com
WARNACO INC.: May Sell Lejaby

* G E R M A N Y *

BANGESELLSCHAFT BERLIN: Commission Examines Bank Rescue
KABEL: Attracts New Interest

* G R E E C E *

OLYMPIC AIRWAYS: Techs Call for Strike

* H U N G A R Y *

CONCORDIA RT: Police Arrests Concordia Chief
SPIRAL AUTO: Begins Liquidation Proceedings

* I T A L Y *

ALITALIA-LINEE: Cancels Flights Due to Strike

* N E T H E R L A N D S *

VIATEL INC.: Closes Dutch Branch
VIATEL INC.: Files Voluntary Petition for Bankruptcy Protection
VIATEL INC.: Seeks Court Approval to Conduct Auction of Assets

* P O L A N D *

DAEWOO-FSO: Foreign Carmaker Bids for Daewoo-FSO
ELEKTRIM SA: To Strengthen Position in the Energy Market

* S W I T Z E R L A N D *

ISMM GROUP: FIFA Agrees to Audit
SWISSAIR GROUP: Gate Gourmet to Lay Off Staff in Argentina

* U N I T E D   K I N G D O M *

BARINGS: Lawyers Prepare Battle Against Auditors
BLACKWOOD CARPET: Goes Into Administration
BRITISH TELECOM: BT Wireless Announces New Board Appointments
MARKS & SPENCER: Faces Gaps in Its Board
MILLENNIIUM DOME: Government Urges Duke to Bid Again
MG ROVER: To Unveil Large Loss
RAILTRACK GROUP: Grants Pay Increase for Chief
REDSTONE TELECOM: Investors to Unveil Alternative Rescue Plan
SCOTIA HOLDINGS: Needs 75MM Pounds to Recover
IN FOCUS: SABENA SA: Flies in Uncertainty


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


LIBRO AG: Seeks Buyer for Internet Subsidiary
---------------------------------------------

Insolvent Austrian retailer Libro is looking for a buyer for its
Internet subsidiary Lion.cc, Wirtschaftsblatt & World Reporter in
its July 5 edition said.

According to Libro board spokesman Werner Steinbauer, Lion has
sufficient equity capital but no liquidity. The company, burning
15 million Schilling per month, will have to file for insolvency
if a buyer is not found soon.

German publisher WAZ, which owns 30% of Lion, discontinued its
contract to cover Lion's losses few weeks ago.


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


LERNOUT & HAUSPIE: Questar to Distribute Products in Italy
----------------------------------------------------------

Lernout & Hauspie Speech Products NV, a world leader in speech
and language technology, products and services, on July 6
announced that its Speech and Language Technologies Division
(SLT) has signed a distribution agreement with Questar, an
Italian distributor for consumer and enterprise technologies.

Under the terms of the agreement, Questar will produce,
distribute, and market in Italy the Italian language version of
Dragon NaturallySpeakingr Professional. Questar will also provide
first-line technical support for this dictation product.

Dragon NaturallySpeakingr Professional combines L&H's state-of-
the-art continuous speech technology with an extensive, easily
customized vocabulary and powerful automation tools, offering a
simple but highly effective productivity solution.


LERNOUT & HAUSPIE: Inks Re-Publishing Deal With Marketing Results
-----------------------------------------------------------------

Lernout & Hauspie on July 6 said that Quadtel Limited Technology
distributor Marketing Results has signed a re-publishing deal
with the speech recognition software provider.

Under the terms of the agreement, Marketing Results becomes both
the distributor and the re-publisher for the L&H Dragon range of
speech recognition solutions for Australia and Singapore.

Marketing Results plans to revitalize the Dragon product line in
the Australian reseller channel through a range of promotional
initiatives.

The Marketing Results range of L&H Dragon products includes the
market-leading Dragon NaturallySpeaking, the first speech
recognition software made specifically for Australians.

The re-publishing agreement with L&H has led to a lowering of the
retail prices across most of the Dragon range.


SABENA SA: Government May Sell Stakes in Sabena Subsidiaries
------------------------------------------------------------

The Belgian government plans to sell stakes in some of Sabena
airline's subsidiaries to provide emergency financing ahead of
lawsuits against Swissair, the Financial Times reported on
Sunday.

The book value of Sabena's subsidiaries is thought to be about
400 million euros. Its hotels and catering and aircraft
maintenance companies are considered profitable, while other
subsidiaries perform considerably worse.

Belgium said last week it would sue Swissair, which owns 49.5% of
Sabena, for 529 million euros in financial commitments and 354
million euros in damages. Sabena later said it would separately
sue Swissair for 500 million euros.

The government says Swissair is responsible for Sabena's plight
since it made a commitment to keep Sabena's balance sheet healthy
and has agreed to give the Belgian state up to 5.5% of Swissair.


===========
F R A N C E
===========


AIR LIBERTE: Two serious Bidders Seen for French Airlines
---------------------------------------------------------

French Transport Minister Jean-Claude Gayssot sees two serious
candidates for the takeover of troubled airline AOM-Air Liberte,
the Sunday edition of Dow Jones Newswires said.

Last week, 15 bidders have offered to take over all or part of
the group. The offers are currently being reviewed but the
commercial court handling bankruptcy proceedings for the two
troubled airlines.

AOM and Air Liberte were forced to file for bankruptcy last month
after shareholders Swissair Group and Marine-Wendel refused to
bail out the air carriers.

A court decision on the takeover is expected this month.


WARNACO INC.: Faces Lawsuit From Underneath.com
-----------------------------------------------

US-based QUAD-I, owner and operator of Underneath.com, on June 29
said it was putting together a group of influential councils to
represent the company in lawsuits to be filed in federal court in
Atlanta against Warnaco, Inc., maker of products such as Calvin
Klein underwear and Olga bras and Jockey International.

Underneath.com is the Internet's most popular retailer of brand
name intimate apparel for men, women and children.


WARNACO INC.: May Sell Lejaby
-----------------------------

US-based Warnaco, which has filed for bankruptcy protection, said
it might sell its lingerie unit Lejaby to cut its debt, Les Echos
& World Reporter in its July 3 edition said.

Potential buyer for the French firm includes Van de Velde of
Belgium, which formally denied the rumor.

Lejaby had 419 million French francs sales last year and showed a
net loss of 5.5 million French francs, including 30 million
French francs in exceptional charges.


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


BANGESELLSCHAFT BERLIN: Commission Examines Bank Rescue
-------------------------------------------------------

The EU Commission expects the Bankgesellschaft Berlin rescue to
involve the public-sector and private-sector owners of the bank,
Die Welt & World Reporter in its July 6 edition said.

If private-sector shareholders had to contribute to the bank's
recovery, it would mean that German insurer Parion would also
have to make an appropriate capital injection, as would
Bankgesellschaft shareholder NordLB.

The commission said that an upper limit of 2 billion euros was
set on the bank's request for recovery subsidies from the EU. The
2 billion euros in question and all previous financial agreements
would have to be withdrawn if competition authorities rejected
the rescue plan. This would probably lead to the bank being
liquidated.


KABEL: Attracts New Interest
----------------------------

Multimedia agency Kabel New Media AG, according to the
Suddeutsche Zeitung & World Reporter's July 5 edition, is
believed to be negotiating with several interested parties over
the sale of parts of the business.

The company, which filed for insolvency proceedings in a Hamburg
court early this month, said that those involved in the talks
were big companies.

One of those interested is the Internet agency SinnerSchrader.
Negotiations will begin as soon as an administrator to Kabel has
been appointed.


===========
G R E E C E
===========


OLYMPIC AIRWAYS: Techs Call for Strike
--------------------------------------

Olympic Airways' technical support staff will stage a 24-hour
strike on July 11 to protest plans to sell a majority stake in
the debt-ridden national carrier, the Associated Press reported
on Friday.

The decision came after the government named private Greek
carrier Axon airlines as the preferred bidder to purchase the
stake.

Technical workers of about 1,000 people are demanding that
Olympic will not be sold and that more staff is hired.

Month-long negotiations will also be held with bidders Cyprus
Airways and Australia's Integrated Airline Solutions.


=============
H U N G A R Y
=============


CONCORDIA RT: Police Arrests Concordia Chief
--------------------------------------------

Police has arrested former Concordia Public Warehouse Rt CEO
Nicolette Korompai on charges of financial mismanagement, Hungary
A.M. in its July 6 edition said.

The Government's Supervision Office started an inquiry this
spring into the company's financial dealings and had come across
a number of cases of mismanagement.

Some of the cases include the transfer of 75 million forint to
Hungary's most popular sports club, Ferencvaros, and the purchase
of 13% of the shares of Concordia's competitor Hungaria Public
Warehouse Rt for an unrealistic 82 million forint.


SPIRAL AUTO: Begins Liquidation Proceedings
-------------------------------------------

Liquidator Yplon Kft began its liquidation proceedings on car
repair and trade company Spiral Auto Rt, Hungary A.M. in its July
6 edition said. Spiral Auto has a total debt of 1 billion
forints, 75% of which are taxes and dues.

The car company accumulated big losses by 1999. It tried to
finance by leasing and selling its properties worth 1 billion
forints without any success.


=========
I T A L Y
=========


ALITALIA-LINEE: Cancels Flights Due to Strike
---------------------------------------------

A strike by air traffic controllers and flight crew from Alitalia
SpA has caused for the cancellation of more than three-quarters
of flights on Friday, AFX News reported.

The company cancelled a total of 342 flights, including 150
international services.

Action by air traffic controllers disrupted flights by Air France
and Lufthansa AG.


=====================
N E T H E R L A N D S
=====================


VIATEL INC.: Closes Dutch Branch
--------------------------------

US telecom company Viatel will close its Dutch branch and make
most of its staff redundant due to financial difficulties, Het
Financieele Dagblad & World Reporter in its July 5 edition said.

The redundancies are expected as Viatel US has already applied
for Chapter 11 protection in Delaware on May 2. Redundancies were
previously announced at the English and Belgian divisions.

Viatel supplies optic fiber telecom and Internet services to the
corporate market.


VIATEL INC.: Files Voluntary Petition for Bankruptcy Protection
---------------------------------------------------------------

US-based holding company Viatel, Inc. on May 2 said that it and
all of its U.S. subsidiaries had filed voluntary petitions for
Chapter 11 protection with the United States Bankruptcy Court in
Delaware.

The company said that it took this step to facilitate the
restructuring of its balance sheet, the winding-up of certain
unprofitable businesses principally in the U.S., and the
continuation of support for its core business in Europe.

By closing down much of the residential voice business acquired
from Destia Communications, Inc., the Viatel said it expected to
be able to maximize the value of its pan-European broadband
network and growing enterprise business either through a
strategic alliance or via a stand-alone restructuring.

Viatel emphasized that except for the residential voice
businesses being wound-up, the Chapter 11 filing was not expected
to have any impact on its continuing European businesses which
are conducted by separate European subsidiaries that have
sufficient liquidity to carry on business in the ordinary course
and which the company intends to continue to support.

With respect to these core European and UK businesses, Viatel
will continue to maintain normal business operations for its
customers, providing all products and services in accordance with
applicable contractual and regulatory requirements.

The company, which implemented further workforce reductions that
resulted in the layoff of approximately 350 employees, said that
it would be seeking bankruptcy court approval for an employee
retention plan so remaining employees can continue working with
the company through the Chapter 11 process.


VIATEL INC.: Seeks Court Approval to Conduct Auction of Assets
--------------------------------------------------------------

Viatel, Inc. on June 26 said it has filed a motion with the
United States Bankruptcy Court for the District of Delaware
seeking approval of bidding procedures to be employed in the
conduct of an auction to sell all of the company's remaining
assets, either as a whole or in segments.

The assets consist principally of Viatel's pan-European, fiber-
optic network and its trans-Atlantic cable system. The businesses
previously conducted by Viatel in the U.K. are now under the
control of a court-appointed administrator.

If no buyers will participate in the auction, the network will be
liquidated under the laws of the European jurisdictions in which
the assets are located.


===========
P O L A N D
===========


DAEWOO-FSO: Foreign Carmaker Bids for Daewoo-FSO
------------------------------------------------

Preliminary talks have been held with a major foreign car company
for Warsaw-based Daewoo-FSO, Poland AM in its July 6 edition
said.

Among the names being mentioned by analysts are Toyota and Mazda,
as well as French firm PSA.

The government has yet to decide on how to go about rescuing the
troubled Polish-Korean car manufacturer. According to Deputy
Economy Minister Edward Nowak, it is essential to restructure the
plant by reducing its debt to Korean and Polish banks and to the
Polish government, before seeking for an investor.


ELEKTRIM SA: To Strengthen Position in the Energy Market
--------------------------------------------------------

Telecommunications conglomerate Elektrim plans for a joint bid
for the G8 group of energy companies, Poland A.M. in its July 6
edition said. Elektrim's partners in the El-Dystrybucja
consortium are Energia company, PKN Orlen and Polish Oil and Gas.

The G8 group supplies Elektrim with 4.6TWh of power a year.

Elektrim and its partners face strong competition in their bid
from Belgium's Electrabel, Germany's E.ON, and Spain's Iberdrola.


=====================
S W I T Z E R L A N D
=====================


ISMM GROUP: FIFA Agrees to Audit
--------------------------------

International Football Association Federation (FIFA) president
Sepp Blatter has agreed to audit its financial state following
the collapse of the ISL/ISMM marketing company, the July 6
edition of AFX News said.

Blatter, who said the fall of ISL has only cost FIFA 51 million
Swiss francs, confirmed that FIFA had taken out a loan of 300
million Swiss francs to help run the football's governing body.

Europe governing body UEFA is concerned that the losses caused by
the ISL/ISMM collapse are more serious than those being publicly
portrayed by Blatter.


SWISSAIR GROUP: Gate Gourmet to Lay Off Staff in Argentina
----------------------------------------------------------

Swissair Group unit Gate Gourmet will lay off 160 staff in
Argentina due to the financial problems of its client Aerolienas
Argentinas, according to the AFX News' Friday report.

Gate Gourmet employs 230,000 people worldwide and operates in 34
countries.


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


BARINGS: Lawyers Prepare Battle Against Auditors
------------------------------------------------

Lawyers this week will convene in London to determine how the
case should proceed against the auditors of Barings bank,
according to The Times' report yesterday.

Barings liquidator Ernst & Young has agreed a last-minute
settlement with Coopers & Lybrand, which audited Barings at the
time of the bank's collapse. However, Ernst & Young has admitted
that it would not know until later this month whether agreement
can even be reached.

The firms have opened themselves to accusations that they have
misled the court.

While Coopers is anxious to settle the claim, co-defendant
Deloitte & Touche wants to clear its name in court. It maintains
that Nick Leeson, the trader who broke the bank, was the
responsibility of the Barings managers, not the auditors.


BLACKWOOD CARPET: Goes Into Administration
------------------------------------------

Carpet yarn manufacturer Blackwood Carpet Yarns, according to The
Times' Friday edition, has gone into administration.

Corporate rescue and recovery firm Begbies Traynor was appointed
as joint administrators for the company.

Blackwood Carpet Yarns is a leading producer of quality hand dyed
100% wool and wool rich blends, supplying carpet manufacturers in
the UK and worldwide.


BRITISH TELECOM: BT Wireless Announces New Board Appointments
-------------------------------------------------------------

British Telecom's BT Wireless has appointment two experienced
executives from communications and finance to its mobile phone
group, the Financial Times reported on Sunday.

Andrew Sukawaty was appointed non-executive deputy chairman. He
is the president of the cable television group Callahan
Associates, and was at one time chief operating officer for
mobile operator One-2-One. He also has been chief executive of
cable television group NTL. Sukawaty also ran US mobile operator
Sprint PCS.

Paul Myners, chairman of Gartmore Investment Management, was also
appointed as non-executive director. Myners is chairman of the
Guardian Media Group and a non-executive director of Powergen. He
has been a non-executive director for Celltech and Orange.

The appointment of Sukawaty and Myners indicates the importance
with which BT regards the success of the demerger and the
possibility that the demerged group will immediately become a bid
target.


MARKS & SPENCER: Faces Gaps in Its Board
----------------------------------------

Marks and Spencer is left with gaps on its board as the
struggling retailer has not yet signed up replacements for the
three non-executive directors who stepped down on Wednesday, the
Financial Times reported on Sunday.

The group has started a search for the replacement of Sir David
Sieff, Sir Ralph Robins and Sir Michael Perry but the process is
not yet complete.

Clothing sales are expected to have slowed over the last quarter
of last year. This is likely to have meant double-digit drops in
women's wear sales, the area where the group has suffered most.

The retail group is in the process of cutting almost 4,500 jobs
as part of a plan to focus on the UK.


MILLENNIIUM DOME: Government Urges Duke to Bid Again
----------------------------------------------------

The government has approached the property consortium led by the
Duke of Westminster to see if it will re-bid for the Millennium
Dome and adjoining land on London's Greenwich peninsula,
according to The Sunday Times' report.

Property company Legacy, headed by one-time preferred bidder
Robert Bourne, was also approached to re-bid.

The government this time will not put any restrictions on what
the dome can be used for, although it will insist that the
structure is not dismantled.

This means Legacy will drop its proposal for an ambitious high-
technology park within the campus. Property experts say that the
successful bidder will be the consortium that can build the most
houses on the site.

English Partnerships, its adviser Jones Lang LaSalle and
solicitors Berwin Leighton have received about 100 expressions of
interest, many of them have come from companies that lack the
necessary financial fire power.


MG ROVER: To Unveil Large Loss
------------------------------

Carmaker MG Rover will announce on Wednesday large losses in the
first eight months, BBC News Online reported on Sunday.

The firm, which was bought in May from German car giant BMW, will
tell its shareholders it remained in the red throughout last
year. Reports have put the figure at 300 million pounds, compared
with a loss of 780 million pounds under the last year of BMW
ownership.

MG Rover is still on track to reach profitability by the end next
year, BBC News added.


RAILTRACK GROUP: Grants Pay Increase for Chief
----------------------------------------------

Railtrack has granted chief executive Steve Marshall a 12.5% pay
increase, bringing his basic salary this year to 450,000 pounds,
according to the Financial Times' Sunday report.

The raise seems to further irritate some shareholders who are
angry over the company's decision to pay Gerald Corbett,
Marshall's predecessor, 1.3 million pounds plus a pension of
about 20,000 pounds a year.

Marshall was appointed Railtrack finance director at a salary of
300,000 pounds 18 months ago. He automatically assumed his
predecessor's salary of 400,000 pounds when he was appointed
chief executive.


REDSTONE TELECOM: Investors to Unveil Alternative Rescue Plan
-------------------------------------------------------------

Rebel shareholders, who claim they control more than 25% of cash-
strapped group Redstone Telecom, will detail an alternative
rescue package in an attempt to derail the company's own
emergency fund-raising plans, the Friday edition of The
Independent said.

The Redstone Action Group could try to force the company into a
break-up or to alter radically the terms of the planned seven-
for-two placing and open offer to make it less harmful to the
interests of small shareholders.

The company hopes to raise 25.3 million pounds from existing and
new investors by issuing 2.65 billion shares at 1p each.

If the current shareholders all take up their full entitlement,
they will be left owning just 19% of Redstone. RAG is outraged
with the terms and has urged other investors to reject the
proposed cash call at the extraordinary general meeting scheduled
on July 20.

Chief executive Ian Brown warned that if investors blocked the
cash call, Redstone would be forced into receivership.


SCOOT.COM: Company Profile
--------------------------

Name:        SCOOT.COM PLC
             Scoot UK Ltd
             Beaufort House
             Cricketfield Road, Uxbridge
             Middlesex, UB8 1QG
             United Kingdom

Phone:       +44-1895-520000

Website:     www.scoot.com

SIC:                Information retrieval services (7375)
Employees:          1,700 (2000)
Total Revenue:      $22.9 million (Sept. 2000 Preliminary)
Net Loss:           $57.0 million  (Sept. 2000 Preliminary)
Current Assets:     65.9 million pounds (as of March 31, 2001)
Total Liabilities:  82.03 million pounds (December 2000)

Type of Business: Online Directory. Provides transaction services
through a number of communication channels, including the
telephone and internet forms of media in the UK and Europe.

Trigger Event: Recurring losses have prompted chief executive
Robert Bonnier to resign on June 26. Bonnier admitted it had
insufficient working capital for the next 12 months.

CEO:  Acting Non-Executive Chairman Dick Eykel
Group Finance Director: David Pearce
CFO:  Jon Mollyneux
Secretary & Finance Director:  Ronald Dorjee

Auditors:  Arthur Andersen
Public Relations:  Buchanan Communications
Bankers:  Lloyds Tsb Bank Plc, Bank Of New York
Financial Advisers:  Merrill Lynch
Stockbrokers:  Cazenove
Law Firms:  Charles Russell, Weil, Gotshal & Manges
Financial Pr Advisers:  Buchanan Communications

Securities: Shares outstanding as of July 2000, 682 million

Last published in TCR-EUR on July 9, 2001


SCOTIA HOLDINGS: Needs 75MM Pounds to Recover
---------------------------------------------

The administrators of collapsed drug development company Scotia
Holdings have to raise more than 75 million pounds to stage
enough of a recovery that could produce a return for existing
shareholders, the Sunday Times reported.

Tom Burton, Andrew Wollaston and Chris Hill of Ernst & Young will
suggest that even this amount will produce just a small return
for investors.

It would be unprecedented for an insolvent company such as Scotia
to seek such a large fundraising, the Times added.



IN FOCUS: SABENA SA: Flies in Uncertainty
-----------------------------------------

Belgium's flag carrier Sabena could end up the loser in the legal
battle between its two shareholders - the Belgian government,
which holds 50.5% of the airline and Swissair Group, which holds
the remaining 49.5%.

Belgium said it was taking its fellow shareholder to court for
breach of contract in a dispute over funding in the troubled
national airline. The government wants Swissair to inject 529
million euros into Sabena this year and next, but Swissair
recently offered to pay only 305 million euros and refused to
raise its Sabena stake to 85%.

Sabena is now joining the government's legal action, a 500-
million-euro lawsuit against Swissair, claiming the Swiss airline
has failed to fulfill several agreements.

In November 1997, Swissair guaranteed to financially participate
in Sabena's fleet renewal with Airbus Industrie A320 aircraft.
Since Swissair hasn't yet fulfilled its obligations, Sabena is
demanding 200 million euros.

A further demand of 300 million euros is related to Swissair's
unfulfilled commitment that its Flightlease unit would buy from
Sabena four Airbus A340 aircraft.

Early this year, an audit conducted by the International Pilot
Services Corporation revealed management mistakes that directly
led to Sabena's cash flow problems.

Due to significant losses, the airline underwent a restructuring
plan aimed at returning the group to profitability. It included
layoffs, as well as the Belgian government pumping 100 million
euros of fresh capital into the flag carrier and 150 million
euros from Swissair.

Unofficial strikes staged by Sabena's pilots have also pushed the
flag carrier to its collapse. The most recent one was the
blocking of a Zurich-bound Swissair plane on Wednesday with 43
passengers on the runway of Brussels' airport.

All these leave Sabena with little room to maneuver. It is
burdened with a loss of 325 million euros on revenue of 2.4
billion euros last year, and remains burdened by powerful labor
unions, a small home market and limited dollar-based revenue to
balance the cost of buying expensive jet fuel.

Hence, Sabena is talking to four potential investors about a
takeover of Swissair's stake. The other European airlines that
could step in are Air France, British Airways, KLM Royal Dutch
Airlines and Lufthansa.

Swissair, which itself lost 1.91 billion euros in 2000, has no
immediate plans to sell its stake. That means Sabena could
indefinitely end up stuck with a significant minority
shareholder.

                             *************

      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. Kimberly MacAdam,
Salve M. Mordeno and Ma. Cristina D. Pernites, Editors.

Copyright 2001.  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
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Europe subscription rate is $575 per half-year, delivered
via e-mail.  Additional e-mail subscriptions for members of the
same firm for the term of the initial subscription or balance
thereof are $25 each.  For subscription information, contact
Christopher Beard at 301/951-6400.


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