/raid1/www/Hosts/bankrupt/TCREUR_Public/040505.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

             Wednesday, May 5, 2004, Vol. 5, No. 88

                            Headlines

A U S T R I A

PARMALAT AUSTRIA: Sells NOM AG Shareholding for EUR37.6 Million


D E N M A R K

LEGO COMPANY: Appeals Adverse Ruling on Patent Case in Canada


F R A N C E

NEXANS: First-quarter Sales up 3.9% Year-on-year
RHODIA SA: Increases Bond Offering to EUR700 Million


G E R M A N Y

DRESDNER BANK: Denies Rumored Sale of Hungarian Branch
MG TECHNOLOGIES: Ships Dynamit's Plastic Division to Flex-N-Gate


H U N G A R Y

PANNONPLAST PLC: 2003 Annual Report Now Available


I T A L Y

FIAT SPA: Franzo Stevens Leaves for Compagnia San Paolo
FIAT SPA: Stockholders Meeting May 8, 10-11
PARMALAT CHILE: Creditors Accept Bethia Offer
PARMALAT FINANZIARIA: Bondi Takes over Three More Companies
PARMALAT GROUP: Sells Thai Unit at EUR4.1 Mln Below Book Value


N E T H E R L A N D S

KONINKLIJKE AHOLD: Postpones Annual Accounts Proceedings
KOSA B.V.: Bank Loan Ratings Affirmed Following INVISTA Takeover
MILACRON INC.: Q1 Sales, Segment Earnings in Line with Guidance


R U S S I A

YUKOS OIL: Sets Election of New Board Members June 24


S W E D E N

SEMCON AB: Profitability Improves Despite Lackluster Market
SEMCON AB: Reports SEK52.8 Million Full-year Operating Loss


S W I T Z E R L A N D

SWISS INTERNATIONAL: Alliance Talks Held up Over Client Data


U K R A I N E

DRUZHBA: Declared Insolvent
EKOOPT: Insolvent Status Confirmed
FIRM UNIVERSAL: Under Bankruptcy Supervision Procedure
GRIVADO-SERVIS: Falls into Bankruptcy
INDUSTRIAL INVESTMENTS: Declared Bankrupt

KERCHRIBPROM: Krym Court Appoints Insolvency Manager
KURYAZKIJ PLANT: Harkiv Court Appoints Insolvency Manager
POSICH: Insolvent Status Confirmed
TEHPROMSTAL: Under Bankruptcy Supervision Procedure
UKRAINIAN LEASING: Deadline for Proofs of Claim May 27


U N I T E D   K I N G D O M

ANRICH ACADEMY: Creditors Meeting Set May 12
CITY STRUCTURES: Meeting of Creditors May 17
CYBERMEMBER SERVICES: Sets Creditors Meeting May 20
DAISIES LIMITED: Creditors Meeting May 11
DESIGN & BUILD: Meeting of Creditors Friday

EUROPEAN SOFTWARE: Creditors to Meet Next Week
GRAHAM THOMSON: Deadline for Debt Claims May 10
HOPE FOUNDATION: Hires Liquidator from David Rubin & Partners
HURST BRICKWORK: Creditors Meeting Set May 12
JOINERY INTERIOR: Meeting of Creditors May 10

LOANFIELD LIMITED: Appoints Liquidator from Valentine & Co
LOGIC-HAUL LIMITED: Creditors Meeting Set May 17
L & S LIMITED: Hires Liquidator from Ansers
MAYFLOWER CORPORATION: Bidders for Transbus Dwindle
MDR LIMITED: Names Liquidator from Antony Batty & Co

MELTONBUILD LIMITED: Creditors Meeting Set May 20
OLD OAK: Extraordinary Resolutions to Wind up Business Passed
RACING NETWORK: Winding up Resolutions Passed
REGENT SCOTLAND: Hires Unique Business Finance Liquidator
RMF MUSHROOMS: Calls in Liquidator

SMARTER POWER: Members Okay Voluntary Winding up
TRANSLOGIC CONSULTING: Calls in Liquidator
WENHAM DAVIES: Winding up Resolution Passed
WIGGLEYS LIMITED: Hires Liquidator from Elwell Watchorn


                            *********


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


PARMALAT AUSTRIA: Sells NOM AG Shareholding for EUR37.6 Million
---------------------------------------------------------------
Parmalat Finanaziaria S.p.A., in Extraordinary Administration,
communicates that its subsidiary company Parmalat Austria GmbH
signed, with Raiffeisen-Holding NiederOsterreich-Wien
reg.Gen.m.b.H., an agreement for the sale of its holding, equal
to 25% + 1 share in the share capital of the Austrian company
NOM AG.

The sale will become effective:

     (i) with the lifting of the sequestration order issued by
         the Vienna Court with regard to NOM shares;

    (ii) with the conclusion of an agreement relating to the
         supposed right of collateral claimed by Raiffeisen
         Zentralbank Osterreich AG over NOM shares;

   (iii) the waiver by NOM of all claims for damages against
         Parmalat S.p.A. in Extraordinary Administration;

    (iv) the non-exercise by Parmalat Austria GmbH or Parmalat
         S.p.A. in Extraordinary Administration of the option
         right over 50% of the share capital of NOM.

The closing of the transaction is expected to take place no
later than December 15, 2004.  The sale consideration is equal
to EUR37.6 million.  The consideration has been deposited with a
notary who will free the funds to one of the parties depending
on whether closing takes place or no agreement is reached.

CONTACT:  PARMALAT FINANZIARIA S.P.A.
          Sede legale: 43044 Collecchio (Pr) - Via Oreste
          Grassi, 26 Codice fiscale e iscrizione nel Registro
          delle Imprese di Parma 00175250471 - Partita I.V.A.
          01938950340 - R.E.A. Parma n. 188325 - U.I.C. n. 730

          Sede amministrativa: 20122 Milano - Piazza Erculea, 9
          Phone: (39) 02 8068801
          Fax:   (39) 02.8693863
          E-mail: x_affari_societari_it@parmalat.net


=============
D E N M A R K
=============


LEGO COMPANY: Appeals Adverse Ruling on Patent Case in Canada
-------------------------------------------------------------
The Supreme Court of Canada on April 29, 2004 granted LEGO
Company leave to appeal its case against Mega Bloks Inc.  The
Supreme Court generally grants leave only in exceptional cases
involving issues of national importance.  In this case, LEGO
Company has claimed an injunction and damages against Mega Bloks
Inc. for passing off Mega Bloks toy brick products as those of
LEGO Company.

According to Poul Hartvig Nielsen, General Counsel of LEGO
Company headquartered in Billund, Denmark, "this decision gives
LEGO Company an important opportunity to present its case to the
Supreme Court for protecting its world-famous LEGO(R) products.
LEGO Company welcomes fair competition, but is committed to
protecting its intellectual property rights and to safeguarding
the public from imitations which tend to cause confusion with
consumers."

In July 2003, in a 2-1 split decision, the Canadian Federal
Court of Appeal upheld a lower court's decision in the action
brought by LEGO Company against Mega Blocks Inc.  The lower
court's decision of May 2002 held that the sale of Mega Bloks'
micro brick products on the Canadian market is not a violation
of Canadian law despite a clear finding that Mega Bloks'
imitation of LEGO(R) bricks resulted in confusion among Canadian
consumers.

The date for the hearing of the Supreme Court Appeal has not yet
been determined.

                            *   *   *

The LEGO Company is a privately held, family-owned company,
based in Billund, Denmark.  The Company is one of the world's
leading manufacturers of play materials for children, employing
approximately 8,000 people globally.  The LEGO Company is
committed to the development of children's creative and
imaginative abilities, and its employees are guided by the motto
adopted in the 1930s by founder Ole Kirk Christiansen: "Only the
best is good enough."

CONTACT:  LEGO COMPANY
          Corporate Communications
          Charlotte Simonsen
          Director, Press Relations
          Phone: (+45) 79 50 65 79


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


NEXANS: First-quarter Sales up 3.9% Year-on-year
------------------------------------------------
At constant non-ferrous metals prices and exchange rates[*],
first quarter sales totaled EUR951 million, up from EUR914
million for the first quarter of 2003, representing growth of
3.9% (+1.3% at constant perimeter).

The strong growth of sales in North America and Asia, coupled
with the sales reported by the recently acquired Kukdong and
Furukawa companies in South Korea and Brazil, respectively,
managed to offset weak markets in Europe, especially France.
A business-by-business analysis shows continued growth in Energy
as other businesses remained stable.

The quarter was marked by a sharp rise in the price of non-
ferrous metals, especially copper, for which the average price
jumped 37% compared with the first quarter of 2003 (and 25%
compared with the fourth quarter of 2003).  The resulting
adverse impact on the Group's debt is evaluated to be
approximately EUR70 million.  It also affects the operating
profits of the building business cables activity, for which it
takes longer to pass on the rising costs of raw materials in the
sales prices.  However, active management of pricing, combined
with a metals hedging policy limit the negative impact on
margins.

Consolidated sales by business sector

in millions  at current metals     at constant     at constant
             prices                metal prices    metal price
                                                   and exchange
                                                   rates

           Q1 03   Q1 04          Q1 03   Q1 04    Q1 03  Q1 04

Energy      503     559            491      515     477     515
Telecom     134     130            133      126     126     126
Electrical
Wires       267     333            248      241     244     241
Distribution
and others   74      69             73       69      67      69

Total       978  1, 091            945      951     914     951

Energy (main activities - at constant metal prices and exchange
rates):

in millions of euros                   Q1.03              Q1.04

Infrastructure                          184                 200
Building                                170                 178
Industry                                106                 128

Despite weak demand for low and medium voltage cables in France
and Germany, the cable market for infrastructure continued to
expand.  Demand for cables for the building business was buoyed
by the North American market, while competitive pressures
continued to weigh on prices in Germany and France.  The volume
increase in Industry Cables is related primarily to the
inclusion of Kukdong in the Group's consolidation scope.

Telecom (at constant metal prices and exchange rates)

in millions of euros                   Q1.03              Q1.04

Infrastructure                            49                 45
Private local
area networks(LAN)                        45                 48
Industry                                  32                 33

The first quarter confirmed the stabilization of this activity
already felt in 2003.  The infrastructure business continued to
suffer from the stagnation of demand in emerging countries.
Cables for industry grew slightly, driven by the development of
ADSL (high-speed Internet) networks and cables for the aerospace
industry.  In North America, sales in the Private local area
Networks were boosted by the recovery of demand for LAN copper
and fiber optic cables.

Electrical wires (at constant metal prices and exchange rates)

in millions of euros                   Q1.03              Q1.04

Wirerod                                  126                127
Bare Wires                                29                 28
Winding wires                             90                 86

The development of Nexans' Wirerod activities is satisfactory.
The Winding Wire activities begin to reap the benefits of the
restructuring carried out in North America in 2003 (reduction of
overheads and elimination of low-margin manufacturing
operations).

Consolidated Sales by geographical area

in millions  current metal       constant metal  constants metal
             prices              prices           price and
                                                 exchange rates

            Q1 03  Q1 04        Q1 03  Q1 04      Q1 03  Q1 04
Europe       752    786          737    710        722    710
North
America      174    219          160    161        148    161
Asia          30     52           27     47         23     47
Rest of
the World     22     34           21     33         21     33

Total        978 1, 091          945    951        914    951

Sales growth during the first quarter reflects a sharp increase
in sales volume in North America (+9.5% on a comparable
consolidation scope), Asia (+13% on a comparable consolidation
scope) and the Rest of the world (+17% on a comparable
consolidation scope).  This rise offsets low levels of activity
in Europe (especially in France), due to the stagnation of
industrial investment and the weakness of demand for telecom
infrastructure cables.

Financial Calendar

June 3, 2004        Annual Shareholders' Meeting

July 21, 2004       Publication of the 2004 first half sales and
                    results

October 18, 2004    Publication of the 2004 third quarter sales

---------
Footnote:

[*] To neutralize the effect of variations in the purchase price
of non-ferrous metals and thus measure its effective sales
evolution, Nexans also calculates its sales using a constant
price for copper and aluminum.

CONTACT:  NEXANS
          Investor Relations
          Michel Gedeon
          Phone: +33 (0) 1 56 69 85 31
          E-mail: michel.gedeon@nexans.com

          Corporate Communication Department
          Veronique Guillot-Pelpel
          Phone: + 33 (0) 1 56 69 84 44
          E-mail: veronique.guillot-pelpel@nexans.com

          Corporate Communication Department
          Pascale Strubel
          Phone: + 33 (0) 1 56 69 85 28
          E-mail: pascale.strubel@nexans.com

          Corporate Communication Department
          Nicolas Arcilla-Borraz
          Phone: + 33 (0) 1 56 69 84 12
          E-mail: nicolas.arcilla-borraz@nexans.com


RHODIA SA: Increases Bond Offering to EUR700 Million
----------------------------------------------------
Following its announcement on April 22, 2004, Rhodia confirms
its intention to increase the size of its bond offering to
EUR700 million and, promptly following the closing of the bond
offering, expected mid-May, to file a tender offer for all of
its outstanding EMTNs due 2005 (EUR500 million aggregate
principal amount).  The price offered will be equal to 102.5%[*]
of par.

Rhodia has obtained all the contractual authorizations necessary
for these transactions, which will be implemented in accordance
with the terms and conditions of its current credit agreements.

About Rhodia

Rhodia is a global specialty chemicals company recognized for
its strong technology positions in applications chemistry,
specialty materials & services and fine chemicals.  Partnering
with major players in the automotive, electronics, fibers,
pharmaceuticals, agrochemicals, consumer care, tires and paints
& coatings markets, Rhodia offers tailor-made solutions
combining original molecules and technologies to respond to
customers' needs.  Rhodia subscribes to the principles of
Sustainable Development communicating its commitments and
performance openly with stakeholders.  Rhodia generated net
sales of EUR5.4 billion in 2003 and employs 23,000 people
worldwide.  Rhodia is listed on the Paris and New York stock
exchanges.

---------
Footnote:

[*] Accrued interest up to but not including the settlement date
will be paid in addition to the price offered.

                            *   *   *

This statement is not for release, publication or distribution
in or into the United States, Canada, Australia or Japan.  The
planned tender offer mentioned in this release is not being made
in these countries and may not be accepted from these countries.

CONTACT:  RHODIA S.A.
          Press Relations
          Anne-Laurence de Villepin
          Phone: +33 1 55 38 40 25

          Investor Relations
          Nicolas Nerot
          Phone: +33 1 55 38 43 08


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


DRESDNER BANK: Denies Rumored Sale of Hungarian Branch
------------------------------------------------------
The chairman and chief executive of Dresdner Bank Hungaria
downplayed fears over the branch's glum future.  Gyorgy
Mesterhazy told the Budapest Business Journal the bank will
continue local operations, contrary to speculations that it is
up for sale.  His statement follows the assurance made by the
bank's German parent, which considers Hungary part of the so-
called strategically important regions.

Dresdner Bank Hungaria will continue to target mid-size
enterprises and larger corporations, according to the paper.  It
is expected to break even this year after last year's fall into
the red, Mr. Mesterhazy said.

The group booked EUR2 billion in losses last year.  The pre-tax
loss was EUR2.9 billion, including EUR1 billion net write-downs
on the bank's investment portfolio.  Restructuring charges worth
EUR840 million further weighed down results.


MG TECHNOLOGIES: Ships Dynamit's Plastic Division to Flex-N-Gate
----------------------------------------------------------------
Mg technologies AG is selling Dynamit Nobel Kunststoff
GmbH (DNK) to U.S. automotive supplier Flex-N-Gate Corporation,
which is headquartered in Urbana, Illinois.  The disposal is
based on an enterprise value of around EUR430 million, including
all liabilities to be assumed by the purchaser.  Mg's
Supervisory Board has approved the transaction Monday.

The company is due to be transferred in the third quarter of
2004, subject to the consent of mg's Annual Shareholders'
Meeting and to approval by the relevant antitrust authorities.
This is the last of the five divisions under the umbrella of
Dynamit Nobel AG (DN) to be sold by mg.  The company had just
announced the disposal of the other four divisions to the
American specialty chemicals company Rockwood on April 19.

DNK, which is headquartered in Weissenburg, southern Germany,
generated sales of EUR876 million -- or roughly 38% of DN's
total sales -- in 2003.  DNK employs approximately 5,000 people
at 22 sites in Europe and two in South America; around two-
thirds of these are employed in Germany.  DNK supplies high-
quality plastic systems solutions to customers, primarily in the
automotive industry, and is one of the leading global players in
the sector.  Its customers include all the major European,
Japanese and U.S. carmakers.

Flex-N-Gate, a supplier of plastics to the automotive industry,
maintains 37 production sites in the U.S., Canada, Mexico,
Spain, Argentina and Brazil, and its 12,000 employees generated
sales of approximately US$1.5 billion per year.

"With the sale of Dynamit Nobel Kunststoff GmbH we have achieved
our planned disposal of Dynamit Nobel AG ahead of schedule.
What's more, the total enterprise value of EUR2.68 billion we
achieved exceeds previous forecasts.  In Flex-N-Gate we have
found DNK a buyer that is using this deal to substantially
strengthen its European presence and offers good prospects for
the division sold by mg," stressed mg's CEO Udo Stark.

The sale of solvadis ag is proceeding according to schedule.
The disposal of mg's chemicals trading subsidiary will then
complete the company's withdrawal from its chemicals activities,
enabling it to focus in the future on specialty mechanical
engineering -- especially process engineering and components --
and plant engineering.

About Dynamit Nobel Kunststoff GmbH

Dynamit Nobel Kunststoff GmbH (DNK) is situated in Weissenburg,
southern Germany.  Its Thermoplastics and Duroplastics business
units supply sophisticated systems solutions, primarily to
customers in the automotive industry.  DNK's customers include
all the major European carmakers as well as U.S. and Japanese
automotive manufacturers.

DNK manufactures high-grade plastic moldings at 22 sites in
Europe and 2 sites in South America with a total workforce of
around 5,000.  Its products include bumper systems, tailgates,
functional parts for airbag systems, assembly carriers and
dashboards.  Thermoplastics, duroplastics or hybrid technologies
are used, depending on the different demands placed upon body
parts, interior parts and structural components.

Sales (2003): EUR876 million

Employees (Dec. 31, 2003): Around 5,000 (34% outside Germany)

Global presence: Europe and South America

Business units and products:

(a) Thermoplastics business unit: includes bumpers, tailgates,
    fenders, dashboards and functional parts for airbag systems.

(b) Duroplastics business unit (Menzolit-Fibron GmbH): includes
    semi-finished products and moldings for use in the
    automotive industry, for electrical and mechanical
    engineering applications and in the chemicals industry.

Customers:

(a) Long-term customer relationships with leading carmakers
    Audi, BMW, DaimlerChrysler, Ford, GM, MAN, Mazda, Nissan,
    Seat, Skoda, smart, Suzuki, Toyota and VW.

Market position:

(a) Second-largest manufacturer of bumper modules in Europe (13%
    market share).
(b) Second-largest supplier of duroplastic/thermoplastic
    composite moldings (SMC, LFT)1 in Europe.

(c) Market leader in the development and production of the
    duroplastic materials SMC and BMC)2

Major innovations:

(a) 1976: First ever all-plastic, production-standard bumper

(b) 1985: First plastic dashboard for the Ford Fiesta

(c) 1997: Combination of plastic and steel parts with no visible
          joints for the Audi A6

(d) 2000: Development of the tailgate for the Mercedes C-Class
          sport coupe

Locations:

(a) Headquarters in Weissenburg, Bavaria (southern Germany)

(b) 12 production sites in the Thermoplastics business unit in
    Germany (6), France (1), Spain (3), Argentina (2)

(c) 12 production sites in the Duroplastics business unit in
    Germany (5), France (1), Spain (1), Italy (1), England
    (1), Slovakia (2), Turkey (1) 1 SMC = sheet molding
    compounds, LFT = long fiber thermoplastics 2 BMC = bulk
    molding compounds 1 SMC = sheet molding compounds, LFT =
    long fiber thermoplastics 2 BMC = bulk molding compounds

                            *    *    *

Mg technologies AG is an international technology group with
core competencies in engineering and chemicals.  In the future
it will concentrate on specialty mechanical engineering --
focusing on process engineering and components -- and plant
engineering.  The company generated sales of roughly EUR6.4
billion excluding discontinued operations in 2003.  At the end
of 2003 the company employed around 29,000 people.  It is a
market and technology leader in 90 percent of its businesses.

CONTACT:  MG TECHNOLOGIES AG
          Communications
          Phone: +49 (0) 69 71199 241
          Fax:   +49 (0) 69 71199 112
          Web site: http://www.mg-technologies.com


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


PANNONPLAST PLC: 2003 Annual Report Now Available
-------------------------------------------------
Pannonplast Plc hereby informs its shareholders and other
participants of the capital market that the company's Annual
Report for 2003 has been prepared.  The 2003 Annual Report of
Pannonplast Plc, prepared according to the requirements of
Section 52 (5) of Capital Markets Act, will be available for
review and distribution from May 3, 2004 in the Shareholders'
Office at Pannonplast Headquarters (1225 Budapest, Nagytetenyi
ut 216-218.) on weekdays between 8:00 a.m. and 4:00 p.m. and at
the Information Center of the Budapest Stock Exchange.


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


FIAT SPA: Franzo Stevens Leaves for Compagnia San Paolo
-------------------------------------------------------
Franzo Grande Stevens, who has been designated by the City of
Turin as a member of the Consiglio Generale (General Council) of
the Compagnia San Paolo, resigned from his office as Director of
Fiat due to incompatibility of offices.

The Compagnia San Paolo is a stockholder of Banca Imi-San Paolo,
which in turn is a stockholder of Fiat.  On the basis of the
provisions of the implementation regulations issued by the
Italian Ministry of Economy on April 22 these two offices are
incompatible.  Mr. Grande Stevens will continue to act as
Secretary of the Fiat Board of Directors.

CONTACT:  FIAT COMMUNICATION
          Media Relations
          Via Nizza 250-Torino
          Phone: 011/00.63088
          Fax:   011/00.63798
          E-mail: mediarelations@fiatgroup.com


FIAT SPA: Stockholders Meeting May 8, 10-11
-------------------------------------------
As from April 23, the documentation for the Stockholders'
Meeting to be held on May 8, 10, and 11, and the Annual Report
on Corporate Governance prepared in compliance with the
Guidelines issued by Assonime ed Emittenti Titoli S.p.A. are
available at http://www.fiatgroup.com

The report, included in the section reserved to Stockholders and
Investors, consists of four parts:

(a) Part 1 contains a description of the Fiat Group Governance
    Structure.

(b) Part 2 illustrates the procedures for the implementation of
    recommendations of the Corporate Governance Code of Listed
    Companies, to which the Fiat Group has adhered since its
    publication.

(c) Part 3 highlights the most significant aspects of recent
    U.S. laws on Corporate Governance, Fiat being a listed
    Company in that Country.

(d) Part 4 shows summary tables of comparable indicators of
    level of implementation of the Corporate Governance Code.

In accordance with its transparency policy, the Fiat Group makes
available all Corporate Governance documents, already posted on
the Web site, including the Code of Conduct, the common
principles for all the Group Companies to execute the Compliance
Program, the duties and charters of all committees set up by the
Board, and the guidelines of the Internal Control System.  Fiat
considers it of primary importance to maintain and develop a
system of Corporate Governance adequate to meet the requirements
of investors and of the market.

The framework illustrated in the Annual Report on Corporate
Governance is subject to ongoing monitoring and review for
continuous improvement and effective contribution to the
development of international standards of best practice.

This is the aim of the proposals to amend the Articles of
Association to be submitted to the forthcoming extraordinary
stockholders' meeting:

  (i) A reduction from 3% to 1% of the minimum equity interest
      needed by minority stockholders to present a slate of
      candidates for the appointment of a Statutory Auditor;

(ii) The decision to facilitate participation of institutional
      investors, especially international institutional
      investors, to stockholders' meetings by not introducing a
      share block provision in the Articles of Association.

CONTACT:  FIAT COMMUNICATION
          Media Relations
          Via Nizza 250-Torino
          Phone: 011/00.63088
          Fax:   011/00.63798
          E-mail: mediarelations@fiatgroup.com


PARMALAT CHILE: Creditors Accept Bethia Offer
---------------------------------------------
Creditors of Parmalat Chile on Monday agreed to sell the company
to investment group Bethia, the company's top executive said,
according to New Zealand online daily Stuff.com.

Carlos Heller, president of Bethia said: "The deal was approved
by 93.11% of the creditors.  Banco do Brasil and Banco Security
voted against it.  If one of them contests the deal we'll
withdraw the offer."  Creditors have one week to challenge the
deal in court.

The transaction is worth US$15.5 million (NZ$25.03 million), and
includes Parmalat's plants, accounts receivable, inventory, and
15-year rights to the brand name for which a payment is due
yearly.  Bethia will also assume Parmalat's debt to dairy
farmers, and 31% of the firm's bank debt, according to the
report.  Parmalat Chile owes banks and milk farmers some US$51
million.


PARMALAT FINANZIARIA: Bondi Takes over Three More Companies
-----------------------------------------------------------
Parmalat Finanziaria S.p.A. in  |  Parmalat Finanziaria S.p.A.
Extraordinary Administration    |  in Amministrazione
communicates that on April 8,   |  Straordinaria comunica che
2004 Extraordinary              |  l'8 aprile 2004 il
Commissioner, Dr. Enrico Bondi, |  Commissario Straordinario,
requested and obtained          |  Dr. Enrico Bondi, ha
permission from the Minister    |  richiesto e ottenuto dal
for Production Activities, in   |  Ministro delle Attivita
accordance with article 3,      |  Produttive, ai sensi
subsection 3 of Legislative     |  dell'art. 3 comma 3 del
Decree no. 347 of 23 December   |  Decreto Legge n. 347 del 23
2003, for the admission into    |  dicembre 2003, l'ammissione
Extraordinary Administration of |  alla procedura di
the following Italian           |  Amministrazione
registered companies, given     |  Straordinaria, in quanto
their common management:        |  imprese soggette a direzione
                                |  comune, delle seguenti
                                |  societa di diritto italiano:

                        * Taurolat Srl,
                        * G.F.A. Srl, and
                        * S.A.F. Srl

Dr. Enrico Bondi has been       |  Il Dr. Enrico Bondi e
appointed Extraordinary         |  stato nominato Commissario
Commissioner of the above       |  Straordinario delle suddette
companies which control a group |  societa che controllano un
of Italian concessionary        |  gruppo di concessionarie
businesses involved in the      |  italiane adibite alla
distribution of Parmalat        |  distribuzione dei prodotti
products.                       |  Parmalat.
                                |
Parmalat Finanziaria S.p.A.     |  Parmalat Finanziaria S.p.A.
in Extraordinary Administration |  in Amministrazione
further communicates that on    |  Straordinaria comunica
13 April 2004 the Civil Court   |  inoltre che il 13 aprile 2004
of Parma confirmed the          |  il Tribunale Civile di Parma
insolvency of the same Taurolat |  ha dichiarato lo stato di
Srl, G.F.A. Srl and S.A.F. Srl. |  insolvenza delle medesime
                                |  societa Taurolat Srl, G.F.A.
                                |  Srl e S.A.F. Srl.

(Parmalat Bankruptcy News, Issue No. 14; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


PARMALAT GROUP: Sells Thai Unit at EUR4.1 Mln Below Book Value
--------------------------------------------------------------
Parmalat Finanziaria S.p.A. in  |  Parmalat Finanziaria S.p.A.,
Extraordinary Administration,   |  in Amministrazione
communicates that its           |  Straordinaria, comunica che
subsidiary company Parmalat     |  la controllata Parmalat
S.p.A. in Extraordinary         |  S.p.A. in Amministrazione
Administration, having received |  Straordinaria, ottenute le
the required ministerial        |  previste autorizzazioni
authorizations, has sold to     |  ministeriali, ha ceduto alla
Campina International Holding   |  Campina International Holding
B.V. its participation of       |  B.V. la partecipazione, pari
89.79% in the share capital of  |  all'89,79% del capitale
Parmalat Thailand Ltd.          |  sociale, nella Parmalat
                                |  Thailand Ltd.
                                |
The Thai company was sold       |  La societa tailandese
for a symbolic consideration of |  e stata ceduta al valore
US$1 and the transaction        |  simbolico di 1 USD e
entailed a capital loss of      |  l'operazione ha comportato
EUR4.1 million for the Group.   |  una minusvalenza per il
                                |  Gruppo di 4,1 milioni di
                                |  euro.

(Parmalat Bankruptcy News, Issue No. 14; Bankruptcy Creditors'
Service, Inc., 215/945-7000)


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


KONINKLIJKE AHOLD: Postpones Annual Accounts Proceedings
--------------------------------------------------------
Ahold and the VEB announced that they are in consultation
regarding the annual accounts proceeding initiated by the VEB on
January 6, 2004.  In this context Ahold and the VEB have agreed
-- pending further consultation -- that the proceedings will be
put on hold and that the date on which Ahold is to file its
statement of response, now scheduled for May 13, 2004, will be
postponed.

CONTACT:  AHOLD CORPORATE COMMUNICATIONS
          Phone: +31 75 659 5720

          ROYAL AHOLD N.V.
          P.O. Box 3050 1500
          HB Zaandam Netherlands
          Phone: +31 (0) 75 659 57 20
          Fax:   +31 (0) 75 659 83 02


KOSA B.V.: Bank Loan Ratings Affirmed Following INVISTA Takeover
----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' senior
secured bank loan rating and recovery rating of '2' on KoSa
B.V.'s $1.9 billion of bank credit facilities.  The '2' recovery
rating indicates a substantial (80%-100%) recovery of principal
in the event of a default.  At the same time, Standard & Poor's
affirmed its 'B+' rating on the company's $675 million senior
unsecured notes due 2012 issued under Rule 144a with
registration rights.  In addition, Standard & Poor's lowered its
corporate credit rating to 'BB' from 'BB+' and removed all
ratings from CreditWatch with negative implications.

Ratings originally were placed on CreditWatch with developing
implications on August 12, 2003, following the announcement that
KoSa's parent, Koch Industries Inc. had entered into exclusive
negotiations with E.I. DuPont de Nemours & Co. regarding the
possible purchase of INVISTA, formerly DuPont Textiles &
Interiors.  The CreditWatch was updated on November 18, 2003,
following the announcement that Koch had agreed to purchase
INVISTA from DuPont.  On March 9, 2004, Standard & Poor's
revised its CreditWatch implications to negative from
developing, as the financing plan came into greater focus.  At
that time, Standard & Poor's indicated that once the acquisition
of INVISTA had been completed, the CreditWatch listing would be
resolved, the corporate credit rating of KoSa would be lowered
to 'BB' from 'BB+', and the new ratings that had been assigned
in connection with the financing plan would be affirmed.  The
acquisition was completed as expected on April 30, 2004.

Proceeds from the new bank credit facilities and the senior
notes have been used to repay amounts outstanding under the
company's existing credit facility and to finance the
acquisition of INVISTA (along with over $2 billion of cash from
Koch), which has been merged with KoSa.  At some point, KoSa
B.V. may be renamed INVISTA.

"The overall creditworthiness of the new KoSa, now combined with
INVISTA, reflects an aggressive financial profile resulting from
high debt leverage at the outset of the acquisition, somewhat
offset by the new KoSa's good business profile as the leading
global manufacturer and marketer of fibers and intermediates,"
said Standard & Poor's credit analyst Peter Kelly.

KoSa's credit quality reflects its position as a leading
producer of fibers and intermediates, with pro forma revenues of
more than $8 billion.  Key fiber chains include nylon,
polyester, and spandex.  In nylon, KoSa is the largest
manufacturer of nylon 6,6 polymer and its key intermediates and
holds large positions in downstream applications such as nylon
carpeting and nylon airbags.  In polyester, KoSa maintains a top
tier position in polyethylene terephthalate (PET) packaging
resins, and is a large producer of polyester fiber and
intermediate materials such as purified terephthalic acid (PTA)
and dimethyl terephthalate (DMT).  In spandex, KoSa is the
largest manufacturer of branded spandex (Lycra) and holds a good
position in generic spandex.


MILACRON INC.: Q1 Sales, Segment Earnings in Line with Guidance
---------------------------------------------------------------
Milacron Inc. (NYSE: MZ) reported a net loss of $16.6 million,
or $0.49 per share, in the first quarter of 2004 on sales of
$189 million.  The loss included $6.4 million in refinancing
costs, with no tax benefit, incurred in pursuing various
alternatives to the company's March 12 refinancing of $200
million in debt and other obligations, as well as $1.1 million
in restructuring costs.  This compared to sales of $190 million
and a net loss of $8.3 million, or $.25 per share, in the first
quarter a year ago, which included $4.8 million in restructuring
costs.  First quarter 2004 sales were within the range of the
guidance issued by Milacron in February, as were segment
earnings.  The company also reaffirmed its guidance and positive
outlook for the rest of the year.

"Milacron made significant progress in many areas during the
first quarter," said Ronald D. Brown, chairman, president and
chief executive officer.  "The most important for us was the
infusion of $100 million of new capital, a major step toward
achieving the financial flexibility we need to fully participate
in the recovery in our markets and build on our platform for
growth.  We are in the process of transforming our capital
structure with more equity and less debt.  The most recent
developments, which we announced in separate releases, are
intended to address our EUR115 million of bonds maturing in
April 2005.

"During the first quarter we also made good progress with our
restructuring initiatives in Europe and saw continued
acceleration of the industrial recovery in North America and
Asia.  As a result, we remain positive in our outlook for 2004
and are projecting a revenue increase for the year and a return
to profitability in the second half," Mr. Brown said.

First quarter 2004 new orders of $187 million were even with the
year-ago quarter.  Without favorable currency translation
effects - primarily the result of a stronger euro and a weaker
dollar - new orders in the first quarter of 2004 would have
declined 5%, and sales 6%, from year-ago levels.  These declines
came primarily in the company's North American machinery
businesses, which were negatively affected through most of the
quarter by uncertainties concerning Milacron's refinancing of
pending maturities.

Profitability in the quarter was held back by higher interest
expense and fees associated with the company's refinancing
activities as well as by increases in pension and insurance
costs.  Despite these negatives, manufacturing margins rose to
17.4% up from 16.7% in the first quarter a year ago, reflecting
the benefits of restructuring measures taken in 2003.

Cash used by operating activities in the quarter was $42
million, of which $33 million went to pay down and terminate the
company's sale-of-receivables program and about $3 million were
costs incurred in pursuing alternative refinancing options.
Primary working capital changes were within the February
guidance, and inventory turns improved year over year throughout
the company's operations, as a result of ongoing implementation
of Lean manufacturing techniques.

Segment Results

Machinery Technologies-North America [machinery and related
parts and services for injection molding, blow molding and
extrusion supplied from North America and India] New orders in
the first quarter were $79 million, down from $85 million in the
first quarter of 2003.  Sales fell to $77 million from $88
million a year ago.  Uncertainties surrounding the refinancing
of the company's March maturities had a negative impact on
orders and shipments during the quarter.  For the quarter, this
segment lost $0.6 million compared to segment earnings of $2.1
million in the year-ago quarter.  Profitability was hurt by
lower shipping volumes as well as by higher insurance and
pension expenses.

Machinery Technologies-Europe [machinery and related parts and
services for injection molding and blow molding supplied from
Europe] Aided by favorable currency translation effects, first
quarter new orders rose to $40 million from $33 million in the
first quarter of 2003, while sales rose to $43 million from $35
million a year ago.  Earnings for this segment improved to $1.1
million compared to a loss of $0.7 million a year ago, primarily
as a result of ongoing cost-cutting measures.

Mold Technologies [mold bases and related parts and services, as
well as maintenance, repair and operating (MRO) supplies for
injection molding worldwide] Despite favorable currency
translation effects, sales in the first quarter fell to $43
million from $45 million a year ago, mostly due to declines in
Europe.  Segment earnings improved, however, to $1.4 million
from $0.3 million in the year-ago quarter, reflecting the
success of restructuring actions taken in 2003.

Industrial Fluids [water-based and oil-based coolants,
lubricants and cleaners for metal cutting and metal forming
operations worldwide] Sales of $26 million were up from $25
million in the first quarter a year ago due to favorable
currency translation.  Segment earnings, however, declined to
$2.5 million from $3.5 million a year ago, primarily as a result
of higher insurance and pension expenses.

Outlook

"Our outlook for 2004 remains positive, as the manufacturing
sector of the economy -- in particular, plastics processing --
continues to rebound," Mr. Brown said.  "U.S. plastics
processors' capacity utilization reached 82% in March, the
highest level since October, 2000.  Sales in our non-machinery
businesses -- plastics supplies, mold components and services,
as well as industrial fluids -- are beginning to pick up in
North America.  On the machinery side, orders for our North
American and European blow molding systems strengthened in the
first few weeks of the second quarter, and we have seen
significant increases in quoting activity among our customers
for injection molding and extrusion equipment.  And our
injection molding machine business in India continues to grow at
a double-digit pace.

"In the second quarter, we anticipate additional refinancing
fees and higher interest expense, as we complete the
transformation of our capital structure.  Nonetheless, with
quoting activity picking up, we also expect solid improvements
in sales and segment earnings compared to the first quarter.

"Looking further ahead, growing activity and utilization rates
among our customers, along with pent-up demand, are likely to
spur greater demand for machinery and with that, we believe,
some improvement in pricing.  Therefore, we continue to project
solid top-line growth for the year as a whole.  This higher
volume will help us realize the full benefit of our recent
restructuring actions, which should lead to a significant
improvement on the bottom line in the second half of the year,"
he concluded.

First incorporated in 1884, Milacron is a leading global
supplier of plastics-processing technologies and industrial
fluids, with 3,500 employees and major manufacturing facilities
in North America, Europe and Asia.  For further information,
visit http://www.milacron.comor call the toll-free investor
line: 800-909-MILA (800-909-6452).

Milacron's Estimates and Projections for Financial Modeling is
available free of charge at
http://bankrupt.com/misc/Milacron_Projections.htm


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


YUKOS OIL: Sets Election of New Board Members June 24
-----------------------------------------------------
The Board of Directors of YUKOS Oil Company, after due
consideration of a number of factors, agreed that following the
Company's substantial interim nine-month dividend payment, it
would not recommend to the annual general shareholders meeting
any further dividends for 2003.

The proposed slate of nominees does not include any members of
the executive management of YUKOS.  Simon Kukes, Chairman of the
Board and CEO of YUKOS Oil Company is not proposed to be re-
nominated as a member of the Board of Directors, but will
continue in his executive role as CEO.

Mr. Kukes said: "The practice of not having YUKOS executives on
the Board of Directors is another example of the Company's
commitment to internationally recognized procedures of good
corporate governance.  The nominees for directors include
individuals who have extensive experience within or related to
the international oil industry and others who are respected for
their contribution to the Russian economy.  I commend the
nominees to the annual shareholders meeting."

The Board also reviewed nominees for the Board of Directors of
YUKOS Oil Company proposed by shareholders.  The nominees to be
considered by shareholders at the annual shareholders meeting
scheduled for June 24 are:

(a) Viktor Geraschenko:        Member of the State Duma of the
                               Russian Federation

(b) Yuri Golubev:              Independent consultant

(c) Francois Buclez:           Director, GM Investment & Co.
                               Ltd.

(d) Raj Kumar Gupta:           Independent consultant

(e) Jacques Kosciusko-Morizet: Manager, Kajis Sari

(f) Alexei Kontorovich:        Director, Institute of Oil and
                               Gas Geology, Siberian Branch of
                               the Russian Academy of Sciences

(g) Edgar Ortiz:               Adviser to the CEO of Halliburton

(h) Sarah Carey:               Attorney at Law; Partner, Squire,
                               Sanders & Dempsey LLC

(i) Bernard Loze:              President, Loze & Associes

(j) Yuri Pokholkov:            Rector, Tomsk Polytechnic
                               University

(k) Michel Soublin:            Treasurer, Shlumberger Limited

The Board of Directors also unanimously supported YUKOS
management in vigorously defending the company against any
claims by the Russian Tax Service for illegal retrospective
taxes, surcharges and fines.

CONTACT:  YUKOS OIL
          Company Press Service:
          Alexander Shadrin
          Phone: +7 095 785-08-55
          E-mail: pr@yukos.ru

          Investor Relations Contact
          Alexander Gladyshev
          Phone: +7095 788 00 33
          E-mail: investors@yukos.ru


===========
S W E D E N
===========


SEMCON AB: Profitability Improves Despite Lackluster Market
-----------------------------------------------------------
Highlights of Financial Report for Jan-March 2004:

(a) Sales rose by 7% to SEK313.2 million (293.2)

(b) Profits after tax rose to SEK5.2 million (-17.6)

(c) Earnings per share of SEK0.30 (-1.01)

(d) The operating profit (EBIT) reached to SEK10.0 million (-
    23.8)

CEO Hans Johansson comments: "Our profits, profit margin and
cash flow in Q1 exceeded last year's figures, and our business
areas are enjoying positive earnings again.

"I am pleased that customers' confidence in us has improved
still further.  Our sales rose by 7% compared to 2003, while we
succeeded in cutting our costs by 4%.  This shows that our
Fast2Profit scheme has produced the desired results.  The
restructuring scheme will continue in 2004 in areas that are
still generating losses.  The aim of Fast2Profit in 2004 is to
cut costs by a further SEK20 million.

"Our improved sales are primarily due to the strategic contracts
we signed with Ericsson and General Motors Europe last year in
the Informatic business area.

"As regards our focus branches, Vehicle is performing well and
Telecom has improved somewhat.  Medical & LifeScience remains
stable, while Industry is performing weakly.  However, there are
big regional differences in the market trends for our
activities.

"We will continue with our strategy of international expansion.
Most of our customers are part of global groups, and many
decisions are made outside our traditional domestic market.  All
Semcon's overseas business activities are under development and
are still generating weak profits."

A copy of Semcon's report is available free of charge at
http://bankrupt.com/misc/Semcon_kvartalsrapport_Q1_2004_eng.pdf

CONTACT:  SEMCON AB
          Hans Johansson
          CEO
          Phone:  +46 31-721 03 05
          Mobile: +46 70 591 43 34

          Bengt Nilsson
          CFO
          Phone:  +46 31-721 03 11
          Mobile: +46 70 447 28 68


SEMCON AB: Reports SEK52.8 Million Full-year Operating Loss
-----------------------------------------------------------
Semcon AB's Annual General Meeting was held on Thursday, 27
April 2004.  The CEO, Hans Johansson, reported on the
performance for 2003.  Sales stood at SEK1,199 million
(SEK1,200) and the operating loss was SEK52.8 million (+10.1).

The Average number of employees was 1,504 (SEK1,581).  Major
customers include Volvo Car Corporation, Ericsson, Saab
Automobile, AB Volvo, AstraZeneca, Bombardier, ABB and Scania.
A number of strategically important partnership agreements were
signed with Ericsson and General Motors Europe during 2003.

Outlook

Semcon expects to once again show a profit and improved
equity/assets ratio.

Members of the Board of Directors

Christian W Jansson was re-elected as Chairman of the Board.
Board members Pia Gideon, Carl-Ake Jansson, Annemarie Gardshol
and Hans Johansson were re-elected.

Dividends

Taking into account Semcon's results for the year the AGM
proposed that no dividend be paid to shareholders for 2003 (0).

New share issue

The Annual General Meeting authorized the Board to take a
decision, up to and including the annual general meeting in
2004, regarding a new share issue of 900,000 shares in the
company.

Debenture issue

The Annual General Meeting decided to authorize, without
preferential rights for shareholders' to take a subordinated
loan of no more than SEK21 million by issuing a maximum 1,400
convertible debentures, each of SEK15,000, giving the right to
exchange them for shares in the company between 1 June 2006 and
31 May 2007, and at the same time decided to approve a
convertible-based incentive scheme.

CONTACT:  SEMCON AB
          Christian W Jansson
          Chairman
          Phone: +46 70816 02 20

          Hans Johansson
          CEO
          Phone:  +46 31-721 03 05
          Mobile: +46 70 591 43 34

          Bengt Nilsson
          CFO
          Phone:  +46 31-721 03 11
          Mobile: +46 70 447 28 68


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


SWISS INTERNATIONAL: Alliance Talks Held up Over Client Data
------------------------------------------------------------
Talks between Swiss International and British Airways regarding
the former's plan to join Oneworld alliance have hit a snag,
according to Reuters.

Swiss refused to let the other airline privy to its client data
in relation to the integration of their frequent-flyer scheme,
which is a condition to Swiss' membership in the alliance.

A British Airways spokeswoman mentioned that the Swiss airline
have agreed in September to share client data.  She said that
Swiss should stick to the agreement, adding that the British
airline "has no plans to renegotiate the legally binding
agreement"

Airlines are understood secretive of their client data and
Swiss' chairman and Interim-CEO Pieter Bouw is reported ready to
fight to keep it confidential.

A spokesman for British Airways said: "British Airways and Swiss
have put on hold some elements of airline systems work including
the migration of frequent-flyer programs until Swiss is able to
proceed."

Meanwhile, a Swiss spokeswoman assured: "There are still certain
points that need to be resolved, but the two parties are
talking."

Observers consider Swiss International's membership in Oneworld
alliance as an important factor for its survival.  The airline
has not turn in a profit since its incorporation two years ago.


=============
U K R A I N E
=============


DRUZHBA: Declared Insolvent
---------------------------
The Economic Court of Sumi region declared AGRICULTURAL LLC
Druzhba (code EDRPOU 03778935) insolvent and introduced
bankruptcy proceedings on December 23, 2003.  The case is
docketed as 12/112.  Arbitral manager Mr. Ponomaryov I. (license
holder AA 668347 approved October 29, 2003) has been appointed
liquidator/insolvency manager.

Creditors have until May 27, 2004 to submit their proofs of
claim at:

(a) 41615, Ukraine, Sumi region, Konotop, Lazarevski str., 15/2
    Phone: 05447-4-32-22

CONTACT:  DRUZHBA
          41600, Ukraine, Sumi region, Konotop district, Gruzke

     ECONOMIC COURT OF SUMI REGION
     40477, Ukraine, Sumi, Ribalko str., 2


EKOOPT: Insolvent Status Confirmed
----------------------------------
The Economic Court of Kyiv declared LLC Ekoopt (code EDRPOU
32162934) insolvent and introduced bankruptcy proceedings on
April 15, 2004.  The case is docketed as 43/181.  Arbitral
manager Mr. Nesterenko S. (license holder AA 419268 approved
November 11, 2002) has been appointed liquidator/insolvency
manager.

CONTACT:  ECONOMIC COURT OF KYIV
     01030, Ukraine, Kyiv, B. Hmelnitskogo boulevard, 44-B


FIRM UNIVERSAL: Under Bankruptcy Supervision Procedure
------------------------------------------------------
The Economic Court of Herson region commenced bankruptcy
supervision procedure on LLC Firm Universal-Yug (code EDRPOU
24947261) in March.  The case is docketed as 6/81-B.  Arbitral
manager Mr. Kutsupak Yurij (license holder AA 140467 approved
June 26, 2002) has been appointed temporary insolvency manager.

Creditors have until May 27, 2004 to submit their proofs of
claim to the:

(a) Temporary Insolvency Manager at: Ukraine, Herson, 20-
    richchya Hrsona str., 22/93

(b) ECONOMIC COURT OF ZHITOMIR REGION: 10014, Ukraine,
    Zhitomir, Berdichivska str., 25

Firm Universal-Yug holds account number, 260030369497 at OJSC
Ureksimbank, Herson branch, MFO 352639.

CONTACT:  FIRM UNIVERSAL-YUG
          Ukraine, Herson, Bluher str., 14

          Mr. Kutsupak Yurij, Temporary Insolvency Manager
          Ukraine, Herson, 20-richchya Hrsona str., 22/93

     ECONOMIC COURT OF HERSON REGION
     73000, Ukraine, Herson, Gorkij str., 18


GRIVADO-SERVIS: Falls into Bankruptcy
-------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
supervision procedure on LLC Grivado-Servis (code EDRPOU
20391540) on October 17, 2003.  The case is docketed as 33/177B.
Arbitral manager Mr. Nesvit L. (license holder AA 668263)  has
been appointed temporary insolvency manager.

Creditors have until May 27, 2004 to submit their proofs of
claim to the:

(a) Temporary Insolvency Manager at: 83056, Ukraine, Donetsk, M.
    Mametova str., 8/2

(b) ECONOMIC COURT OF DONETSK REGION: 83048, Ukraine,
    Donetsk, Artema str., 157

Grivado-Servis maintains account number, 2467246 at
CB Privatbank, Mariupol branch, MFO 335429.

CONTACT:  GRIVADO-SERVIS
          87507, Ukraine, Donetsk region, Mariupol,
          Konnoarmijska str., 6

          Mr. Nesvit L., Temporary Insolvency Manager
          83056, Ukraine, Donetsk, M. Mametova str., 8/2

     ECONOMIC COURT OF DONETSK REGION
     83048, Ukraine, Donetsk, Artema str., 157


INDUSTRIAL INVESTMENTS: Declared Bankrupt
-----------------------------------------
The Economic Court of Dnipropetrovsk region declared LLC
Industrial Investments (code EDRPOU 31017538) insolvent and
introduced bankruptcy proceedings on April 13, 2004.  The case
is docketed as # B29/60/04.  Arbitral manager Mr. Shevtsov
Yevgen (license holder AA 250313) has been appointed liquidator
/insolvency manager.

Industrial Investments holds account number, 26006004030100 at
JSCIB Ukrsibbank, Dnipropetrovsk branch.

CONTACT:  INDUSTRIAL INVESTMENTS
          Juriditial address: 49000, Ukraine, Dnipropetrovsk,
          Pisarzhevski str., 1a/301

          Mr. Shevtsov Yevgen, Liquidator/Insolvency Manager
          49060, Ukraine, Ukraine, Dnipropetrovsk, a/b # 3925

     ECONOMIC COURT OF DNIPROPETROVSK REGION
     49600, Ukraine, Dnipropetrovsk, Kujbishev str., 1a


KERCHRIBPROM: Krym Court Appoints Insolvency Manager
----------------------------------------------------
The Economic Court of AR Krym commenced bankruptcy supervision
procedure on OJSC Kerchribprom (code EDRPOU 00463071) in March.
The case is docketed as 2-20/6410-2004.  Arbitral manager Mr.
Sherbina O. (license holder AA 719799 approved February 12,
2004) has been appointed temporary insolvency manager.

Creditors have until May 27, 2004 to submit their proofs of
claim to the:

(a) Temporary Insolvency Manager at: 95053, AR Krym, Simferopol,
    Alushtinska str., 21

(b) THE ECONOMIC COURT OF AR KRYM: 95000, Ukraine,
    Simferopol, Karl Marks str., 18

Kerchribprom maintains account number, 26006259042001 at CB
Privatbank of Krym, Kerch branch, MFO 324731.

CONTACT:  KERCHRIBPROM
          98300, AR Krym, Kerch, Sverdlov str., 49

          Mr. Sherbina O., Temporary Insolvency Manager
          95053, AR Krym, Simferopol, Alushtinska str., 21

     THE ECONOMIC COURT OF AR KRYM:
     95000, Ukraine, Simferopol, Karl Marks str., 18


KURYAZKIJ PLANT: Harkiv Court Appoints Insolvency Manager
---------------------------------------------------------
The Economic Court of Harkiv region declared OJSC Kuryazkij
Plant Of Silicate Products (code EDRPOU 05467330) insolvent and
introduced bankruptcy proceedings on April 14, 2004.  The case
is docketed as B-31/165-03.  Arbitral manager Mrs. Chekshturina
T. (license holder AA 630039 approved November 18, 2003 has been
appointed liquidator/insolvency manager.

CONTACT:  KURYAZKIJ PLANT OF SILICATE PRODUCTS
          62370, Ukraine, Harkiv region, Solonitsivka,
          Belgorodska str., 2

          Mrs. Chekshturina T., Liquidator/Insolvency Manager
          Ukraine, Kyiv, Sribnokilska str., 14/126

     ECONOMIC COURT OF HARKIV REGION
     61022, Ukraine, Harkiv, Svobodi square, 5,
          Derzhprom, 8th entrance


POSICH: Insolvent Status Confirmed
----------------------------------
The Economic Court of Ivano-Frankivsk region declared LLC Posich
(code EDRPOU 22198008) insolvent and introduced bankruptcy
proceedings on April 1, 2004.  The case is docketed as B-11/57.
Arbitral manager Mr. Gorodchuk Yurij (license holder AA 250296
approved March 1, 2002) has been appointed liquidator/insolvency
manager.

Creditors have until May 27, 2004 to submit their proofs of
claim to the:

(a) Liquidator/Insolvency Manager at: 78000, Ukraine, Ivano-
    Frankivsk region, Tlumach, Promislovij passage, 6

(b) ECONOMIC COURT OF IVANO-FRANKIVSK REGION: 76000, Ukraine,
    Ivano-Frankivsk, Grunvaldska str.,11

Posich maintains account number, 260061457 at JSPPB Aval of
Ivano-Frankivsk, MFO 336042.

CONTACT:  POSICH
          77611, Ukraine, Ivano-Frankivsk region,
          Broshniv-Osada, 22 Sichnya str., 74

          Mr. Gorodchuk Yurij, Liquidator/Insolvency Manager
          78000, Ukraine, Ivano-Frankivsk region, Tlumach,
          Promislovij passage, 6

     ECONOMIC COURT OF IVANO-FRANKIVSK REGION
     76000, Ukraine, Ivano-Frankivsk, Grunvaldska str.,11


TEHPROMSTAL: Under Bankruptcy Supervision Procedure
---------------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
supervision procedure on LLC Tehpromstal (code EDRPOU 30172706).
The case is docketed as B 29/15/04.  Arbitral manager Mrs.
Godlevska U. (license holder AA 668340) has been appointed
temporary insolvency manager.

Tehpromstal holds account number, 26007031020100 at JSPPB Aval,
Nikopol branch, MFO 306782.

CONTACT:  TEHPROMSTAL
          53210, Ukraine, Dnipropetrovsk region, Nikopol,
          Stanislavskij str., 22/22

          Mrs. Godlevska U., Temporary Insolvency Manager
          50069, Ukraine, Dnipropetrovsk region, Krivij Rig,
          Miru Avenue, 37/86
          Phone: (067) 631-63-37

     ECONOMIC COURT OF DNIPROPETROVSK REGION
     49600, Ukraine, Dnipropetrovsk, Kujbishev str., 1a


UKRAINIAN LEASING: Deadline for Proofs of Claim May 27
------------------------------------------------------
The Economic Court of Kyiv commenced bankruptcy supervision
procedure on commandite society Ukrainian Leasing Company (code
EDRPOU 31086575) in February.  The case is docketed as 24/132-b.
Arbitral manager Mr. Moskalenko Vasil (license holder AA 250030
approved November 19, 2001)
has been appointed temporary insolvency manager.

Creditors have until May 27, 2004 to submit their proofs of
claim to the:

(a) Temporary Insolvency Manager at: 65045, Ukraine, Odesa,
Dvoryanska
    str., 13, office OUTB TSENTR; Phone: 8 (048) 777-64-71, 26-
27-24

(b) ECONOMIC COURT OF KYIV: 01030, Ukraine, Kyiv, B.
Hmelnitskogo
    boulevard, 44-B

CONTACT:  Mr. Moskalenko Vasil, Temporary Insolvency Manager
          65045, Ukraine, Odesa, Dvoryanska str., 13,
          Office OUTB TSENTR
          Phone: 8 (048) 777-64-71, 26-27-24

     ECONOMIC COURT OF KYIV
     01030, Ukraine, Kyiv, B. Hmelnitskogo boulevard, 44-B


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


ANRICH ACADEMY: Creditors Meeting Set May 12
--------------------------------------------
There will be a Creditors Meeting of the Anrich Academy Limited
Company on May 12, 2004 at 12:00 noon.  It will be held at The
Bellingham Hotel, Wigan Lane, Wigan.

Creditors who want to be represented at the Meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to T H Associates, Towngate House, 116-118 Towngate,
Leyland PR25 2LQ not later than 12:00 noon, May 11, 2004.

CONTACT:  T H ASSOCIATES
          Towngate House
          116-118 Towngate, Leyland PR25 2LQ
          Contact:
          T J Hargreaves


CITY STRUCTURES: Meeting of Creditors May 17
--------------------------------------------
There will be a Creditors Meeting of the City Structures Limited
Company on May 17, 2004 at 11:30 a.m.  It will be held at The
Holiday Inn, University Way, Dartford Bridge, Dartford, Kent DA1
5PA.

The purpose of the Meeting is to lay before the Members how the
winding up of the Company has been conducted.

CONTACT:  PITMAN COHEN
          Great Central House
          Great Central Avenue, South Ruislip
          Middlesex HA4 6TS
          Contact:
          Mr. S Cohen, Liquidator


CYBERMEMBER SERVICES: Sets Creditors Meeting May 20
---------------------------------------------------
Name of Companies:
Cybermember Services Limited
Cyber Travel (U.K.) Limited

There will be a Creditors Meeting of these Companies on May 20,
2004 at 2:30 p.m.  It will be held at Kettering Park Hotel,
Kettering Venture Park, Kettering Parkway NN15 6XX.

A list of names and addresses of the Creditors will be available
for inspection free of charge on May 18 and 19, 2004 at The Till
Morris Partnership, 32 Brook Street, Warwick CV34 4BL.

CONTACT:  THE TILL MORRIS PARTNERSHIP
          32 Brook Street,
          Warwick CV34 4BL0


DAISIES LIMITED: Creditors Meeting May 11
-----------------------------------------
Pursuant to section 98 of the Insolvency Act 1986, a Creditors
Meeting of the Daisies (Northwest) Limited Company will be on
May 11, 2004 at 2:30 p.m.  It will be held at Conference Room 3,
1st Floor, Portland Basin Museum, Portland Place, Ashton under
Lyne.

Creditors who want to be represented at the Meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to David Platt Associates, Northwood, 76 Currier
Lane, Ashton under Lyne OL6 6TB not later than 12:00 noon, May
10, 2004.

A list of Creditors names and addresses will be available for
inspection free of charge on May 9 and 10, 2004 between 10:00
a.m. and 4:00 p.m. at David Platt Associates.

CONTACT:  DAVID PLATT ASSOCIATES
          Northwood
          76 Currier Lane,
          Ashton under Lyne OL6 6TB


DESIGN & BUILD: Meeting of Creditors Friday
-------------------------------------------
Pursuant to section 98 of the Insolvency Act 1986, a Creditors
Meeting of the Design & Build Limited Company will be on May 7,
2004 at 12:00 noon.  It will be held at Holiday Inn Hotel,
Pembroke Road, Southsea, Portsmouth PO1 2TA.

Creditors who want to be represented at the Meeting may appoint
proxies.  Proxy forms must be submitted to Vantis Business
Recovery, Torrington House, 47 Holywell Hill, St Albans,
Hertfordshire AL1 1HD not later than 12:00 noon, May 6, 2004.

CONTACT:  VANTIS BUSINESS RECOVERY
          Torrington House
          47 Holywell Hill, St Albans
          Hertfordshire AL1 1HD
          Contact:
          Nigel Hamilton-Smith, Liquidator


EUROPEAN SOFTWARE: Creditors to Meet Next Week
----------------------------------------------
There will be a Creditors Meeting of the European Software
Developers Ltd. Company on May 11, 2004 at 11:00 a.m.  It will
be held at 35 Ludgate Hill, Birmingham B3 1EH.

Creditors who want to be represented at the Meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to Poppleton & Appleby, 35 Ludgate Hill, Birmingham
B3 1EH not later than 12:00 noon, May 10, 2004.

CONTACT:  POPPLETON & APPLEBY
          35 Ludgate Hill,
          Birmingham B3 1EH
          Contact:
          M D Hardy, Liquidator


GRAHAM THOMSON: Deadline for Debt Claims May 10
-----------------------------------------------
A Creditors Meeting of the Graham Thomson Building Contractor
Limited Company will be on May 11, 2004 at 11:30 a.m.  It will
be held at the offices of Sale Smith & Co., Carmella House, 3 &
4 Grove Terrace, Walsall, West Midlands WS1 2NE.

Creditors who want to be represented at the Meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to Carmella House, 3 & 4 Grove Terrace, Walsall,
West Midlands WS1 2NE not later than 12:00 noon, May 10, 2004.

A list of Creditors names and addresses will be available for
inspection at Sale Smith & Co., Carmella House, 3 & 4 Grove
Terrace, Walsall, West Midlands WS1 2NE on May 9 and 10, 2004.

CONTACT:  SALE SMITH & CO
          Carmella House
          3 & 4 Grove Terrace, Walsall
          West Midlands WS1 2NE


HOPE FOUNDATION: Hires Liquidator from David Rubin & Partners
-------------------------------------------------------------
At an Extraordinary Meeting of the Members of The Hope
Foundation Organisation Limited Company on April 22, 2004 held
at the offices of David Rubin & Partners, Pearl Assurance House,
319 Ballards Lane, London N12 8LY, the Extraordinary Resolution
to wind up the Company was passed.  Lane Bednash of David Rubin
& Partners, Pearl Assurance House, 319 Ballards Lane, London N12
8LY has been nominated Liquidator for the purpose of such
winding-up.

CONTACT:  DAVID RUBIN & PARTNERS
          Pearl Assurance House
          319 Ballards Lane
          London N12 8LY
          Contact:
          Lane Bednash, Liquidator


HURST BRICKWORK: Creditors Meeting Set May 12
---------------------------------------------
There will be a Creditors Meeting of the Hurst Brickwork Limited
Company on May 12, 2004 at 12:00 noon.  It will be held at 4th
Floor, Holborn Hall, 100 Gray's Inn Road, London WC1X 8AL.

Creditors who want to be represented at the Meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims at 4th Floor, Holborn Hall, 100 Gray's Inn Road,
London WC1X 8AL not later than 12:00 noon, May 11, 2004.

CONTACT:  PURE RECOVERY
          4th Floor, Holborn Hall,
          100 Gray's Inn Road,
          London WC1X 8AL


JOINERY INTERIOR: Meeting of Creditors May 10
---------------------------------------------
There will be a Creditors Meeting of the Joinery Interior
Specialist Limited on May 10, 2004 at 11:30 a.m.  It will be
held at the Holiday Inn, Emerson Districts S, Washington, Tyne
and Wear NE37 1LB.

Creditors who want to be represented at the Meeting may appoint
proxies.  Proxy forms must be submitted to Findlay James, Saxon
House, Saxon Way, Cheltenham GL52 6QX not later than 12:00 noon,
May 9, 2004.

CONTACT:  FINDLAY JAMES
          Saxon House
          Saxon Way, Cheltenham GL52 6QX


LOANFIELD LIMITED: Appoints Liquidator from Valentine & Co
----------------------------------------------------------
At an Extraordinary General Meeting of the Loanfield Limited
Company on April 22, 2004 held at the offices of Valentine &
Co., 4 Dancastle Court, 14 Arcadia Avenue, London N3 2HS, on
Thursday 22 April 2004, the Extraordinary and Ordinary
Resolutions to wind up the Company were passed.  Mark S Reynolds
of 4 Dancastle Court, 14 Arcadia Avenue, London N3 2HS has been
appointed Liquidator for the purpose of such winding-up.

CONTACT:  VALENTINE & CO
          4 Dancastle Court,
          14 Arcadia Avenue,
          London N3 2HS
          Contact:
          Mark S Reynold, Liquidator


LOGIC-HAUL LIMITED: Creditors Meeting Set May 17
------------------------------------------------
There will be a Creditors Meeting of the Logic-Haul Limited
Company on May 17, 2004 at 10:30 a.m.  It will be held at The
Spa Hotel, Mount Ephraim, Tunbridge Wells, Kent TN4 8XJ.

Creditors who want to be represented at the Meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to Smith & Williamson Limited, The Meeting House,
Little Mount Sion, Tunbridge Wells, Kent TN1 1YS not later than
12:00 noon, May 16, 2004.

CONTACT:  SMITH & WILLIAMSON LIMITED
          The Meeting House
          Little Mount Sion
          Tunbridge Wells, Kent TN1 1YS


L & S LIMITED: Hires Liquidator from Ansers
-------------------------------------------
There will be a Creditors Meeting of the L & S (Distribution)
Limited Company on May 12, 2004 at 10:15 a.m.  It will be held
at Suite 3, Warren House, 10-20 Main Road, Hockley, Essex SS5
4QS.

The purpose of the Meeting is to lay before the Members how the
winding up of the Company has been conducted.  Creditors who
want to be represented at the Meeting may appoint proxies.
Proxy forms must be submitted to A J D Bakonyvari, of Ansers!,
Suite 3, Warren House, 10-20 Main Road, Hockley, Essex SS5 4QS
not later than 12:00 noon, May 11, 2004.

CONTACT:  ANSERS!
          Suite 3 Warren House,
          10-20 Main Road, Hockley
          Essex SS5 4QS
          Contact:
          A J D Bakonyvari, Liquidator


MAYFLOWER CORPORATION: Bidders for Transbus Dwindle
---------------------------------------------------
Prospective bidders for Mayflower Corporation's bus operations
have been discouraged by Transbus' massive debts, according to
The Scotsman.

The report citing one unnamed source said the shortlist of
bidders is "looking like" like it is now down to only two or
three.

Cerberus Capital Management, an American investment group, is
understood to be the frontrunner in the race.  Also in the
process is a syndicate spearheaded by Dexter Capital Group, a
U.K.-based activist investor, which has 5% shareholding in
Mayflower.  Transbus' rival, Henly's, is also believed to be
interested in the acquisition, although it still need the
approval of its shareholders to lodge an offer.

Deloitte, Mayflower's administrator, confirmed it has set May 16
as the deadline for the bidders to complete due diligence.

CONTACT:  DELOITTE & TOUCHE LLP
          Stonecutter Court
          1 Stonecutter Street
          London
          United Kingdom
          EC4A 4TR
          Phone: +44 (0)20 7936 3000
          Fax Number: +44 (0)20 7583 1198
          Contact:
          Nicholas Dargan


MDR LIMITED: Names Liquidator from Antony Batty & Co
----------------------------------------------------
At an Extraordinary General Meeting of the MDR Limited Company
on April 22, 2004 held at New House, Suite 24, 67-68 Hatton
Garden, London EC1N 8JY, the Extraordinary Resolution to wind up
the Company was passed.  William Antony Batty of Antony Batty &
Co, New House, Suite 24, 67-68 Hatton Garden, London EC1N 8JY
has been appointed Liquidator for the purpose of such winding-
up.

CONTACT:  ANTONY BATTY & CO
          New House
          Suite 24, 67-68 Hatton Garden,
          London EC1N 8JY
          Contact:
          William Antony Batty, Liquidator


MELTONBUILD LIMITED: Creditors Meeting Set May 20
-------------------------------------------------
Name of Companies:
Meltonbuild Limited
SPC Dry Lining Limited
Weather Proof (East Anglia) Limited

There will be a Creditors Meeting of these Companies on May 20,
2004 at 11:00 a.m., 2:00 p.m., and 3:30 p.m. respectively.  It
will be held at the Holiday Inn Norwich, Ipswich Road, Norwich,
Norfolk NR4 6EP.

Creditors who want to vote at the Meeting must submit written
debt claims to the offices of Langley & Partners, Langley House,
Park Road, East Finchley, London N2 8EX not later than 12:00
noon, May 19, 2004.

CONTACT:  LANGLEY & PARTNERS
          Langley House,
          Park Road, East Finchley,
          London N2 8EX


OLD OAK: Extraordinary Resolutions to Wind up Business Passed
-------------------------------------------------------------
At an Extraordinary Meeting of the Members of the Old Oak Garage
(Willesden) Limited Company on April 21, 2004 held at the
offices of David Rubin & Partners, Pearl Assurance House, 319
Ballards Lane, London N12 8LY, the Extraordinary Resolution to
wind up the Company was passed.  Lane Bednash of David Rubin &
Partners, Pearl Assurance House, 319 Ballards Lane, London N12
8LY has been nominated Liquidator for the purpose of such
winding-up.

CONTACT:  DAVID RUBIN & PARTNERS
          Pearl Assurance House
          319 Ballards Lane,
          London N12 8LY
          Contact:
          Lane Bednash, Liquidator


RACING NETWORK: Winding up Resolutions Passed
---------------------------------------------
At an Extraordinary General Meeting of the Racing Network.Co.UK
Limited Company on April 16, 2004 held at The Meeting House,
Little Mount Sion, Tunbridge Wells, Kent TN1 1YS, the
Extraordinary Resolution to wind up the Company was passed.


REGENT SCOTLAND: Hires Unique Business Finance Liquidator
---------------------------------------------------------
At an Extraordinary General Meeting of the Regent Scotland
Trading Limited Company on April 2, 2004 held at Regents Park
House, Regent Street, Leeds LS2 7QN, the Extraordinary
Resolution to wind up the Company was passed.  Mark Prideaux of
Unique Business Finance Ltd, Unit 6, Lockside Office Park,
Lockside Road, Preston PR2 2YS has been appointed Liquidator for
the purpose of such winding-up.

CONTACT:  UNIQUE BUSINESS FINANCE LTD
          Unit 6
          Lockside Office Park,
          Lockside Road, Preston PR2 2YS
          Contact:
          Mark Prideaux, Liquidator


RMF MUSHROOMS: Calls in Liquidator
----------------------------------
At an Extraordinary General Meeting of the Members of the RMF
Mushrooms Limited Company on April 23, 2004 held at The
Britannia Hotel, Almond Brook Road, Standish, near Wigan WN6
0SR, the Extraordinary Resolution to wind up the Company was
passed.  Timothy Hargreaves of T. H. Associates, Towngate House,
116-118 Towngate, Leyland PR25 2LQ has been nominated for the
purpose of winding-up.

CONTACT:  T. H. ASSOCIATES
          Towngate House
          116-118 Towngate,
          Leyland PR25 2LQ
          Contact:
          Timothy Hargreaves, Liquidator


SMARTER POWER: Members Okay Voluntary Winding up
------------------------------------------------
At an Extraordinary General Meeting of the Members of the
Smarter Power Limited Company on April 22, 2004 held at 47
London Street, Reading RG1 4PS, the Extraordinary and Ordinary
Resolutions to wind up the Company were passed.  Peter Bridger
has been appointed Liquidator for the purposes of such winding-
up.


TRANSLOGIC CONSULTING: Calls in Liquidator
------------------------------------------
At an Extraordinary General Meeting of the Members of the
Translogic Consulting & Service Co. Limited Company on April 21,
2004 held at Wilton & Partners, 26 Grosvenor Street, London W1K
4QW, the Extraordinary and Ordinary Resolutions to wind the
Company were passed.  David A Butler of Nunn Hayward has been
appointed Liquidator for the purpose of such winding-up.


WENHAM DAVIES: Winding up Resolution Passed
-------------------------------------------
At an Extraordinary General Meeting of the Members of the Wenham
Davies Associates Limited Company on April 23, 2004 held at 68
Ship Street, Brighton, East Sussex BN1 1AE, the Extraordinary
and Ordinary Resolutions to wind up the Company were passed.
William Jeremy Jonathan Knight has been appointed Liquidator for
the purpose of such winding-up.


WIGGLEYS LIMITED: Hires Liquidator from Elwell Watchorn
-------------------------------------------------------
At an Extraordinary General Meeting of the Mr. Wiggleys Limited
(t/a Father Christmas 2003) Company on April 23,2004 held at 2
Axon, Commerce Road, Lynchwood, Peterborough PE2 6LR, the
subjoined Extraordinary Resolution to wind up the Company was
passed.  Richard John Elwell and Graham Stuart Wolloff of Elwell
Watchorn & Saxton, 2 Axon, Commerce Road, Lynchwood,
Peterborough PE2 6LR have been appointed Joint Liquidators for
the purpose of such winding-up.

CONTACT:  ELWELL WATCHORN & SAXTON
          2 Axon, Commerce Road,
          Lynchwood, Peterborough PE2 6LR
          Contact:
          Richard John Elwell, Liquidator
          Graham Stuart Wolloff, Liquidator


                            *********


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., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  Larri-Nil Veloso, Ma. Cristina Canson, and
Liv Arcipe, Editors.

Copyright 2004.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
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