/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/041004.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 Monday, October 4, 2004, Vol. 5, No. 196 Headlines B E L G I U M KBC BANK: Individual Rating Raised to 'B'; Outlook Stable F R A N C E PERONNE INDUSTRIE: CEO Considers Filing for Bankruptcy VIVENDI UNIVERSAL: Chairman Wants to Double Shareholding G E R M A N Y ARING ARCHITEKTUR: Hires Administrator from Pluta Rechtsanwalts B.A.K. ISOLIER: Creditors' Claims Due Next Month CREMER GRUNDSTUCKSGEMEINSCHAFT: Under Bankruptcy Administration EB FISCHFEINKOST: Magdeburg Court Brings in Administrator HK BAU: Construction Firm Applies for Bankruptcy Proceedings HORIZONT GERUSTBAU: Sets Creditors' Meeting November KARSTADTQUELLE AG: Schroeder Scores Former Management "MARIENBILD" GMBH: Koln Court Appoints Provisional Administrator PHILIPP HOLZMANN: Sells Last Remaining Unit to Geiger RUSCHMEIER ANHANGERBAU: Administrator Takes over Helm THERMO-TECHNIK: First Creditors Meeting Set Later this Month I T A L Y ALITALIA SPA: Signing of Pact Endorsing Rehab Plan Tomorrow PARMALAT FINANZIARIA: Assets of Former Executives Seized N E T H E R L A N D S GETRONICS N.V.: DSM Extends ICT Infrastructure Management Pact HAGEMEYER N.V.: Names New CEO for Central European Operations HAGEMEYER N.V.: Gets AU$700 Million for Tech Pacific KONINKLIJKE AHOLD: Settles Dispute with Public Prosecutor PETROPLUS INTERNATIONAL: Delays Equity, Senior Notes Offering N O R W A Y FINDEXA II: Moody's Withdraws Rating on Debt Securities R U S S I A 6TH CHANNEL: Names V. Ostoverkh Insolvency Manager AERONAUTICAL TECHNICAL: Under Bankruptcy Supervision MEDTEKHNIKA: Hires O. Charkov as Insolvency Manager NORTH-URAL: Undergoes Bankruptcy Supervision Procedure NOVOZYBKOVSKAYA GARMENT: Declared Insolvent POLITOVSKOYE BREAD: Proofs of Claim Due this Week SENGILEEVSKIY CEMENT: Ulyanov Court Appoints Insolvency Manager SEREBRYANO-PRUDSKIY PIT: Succumbs to Bankruptcy SHAKHOVSKIY: Proofs of Claim Deadline to Expire this Month TYUMEN-LIFT: Declared Insolvent YUKOS OIL: Govt Delays Decision on Yuganskneftegaz's Licenses YUKOS OIL: China National Demands Performance of Export Contract S W I T Z E R L A N D CONVERIUM AG: Rating Watch Revised to Positive CONVERIUM HOLDING: Board Member from R+V Versicherung Resigns U K R A I N E DMK-TRADING: Dnipropetrovsk Court Orders Liquidation HIMOTEKS: Temporary Insolvency Manager Takes over Operations KOMTEHINVEST: Applies for Bankruptcy Proceedings SOLE: Bankruptcy Proceedings Begin SVITANOK: Sets Deadline for Filing of Claims VINNITSYA AGRICULTURAL: Under Bankruptcy Supervision U N I T E D K I N G D O M ABBEY COACHWORKS: Hires Ernst & Young as Administrator AUTOMOTIVE PRECISION: Members Agree to Wind up Business BESS LIMITED: Names Joint Administrators from Gerald Edelman BJ'S TRADE: In Administrative Receivership BROMLEY SCHOOL: Appoints Tenon Recovery Administrator CAFE GRAND: Names Numerica Liquidator COUNTY ROOFING: Calls in Liquidator from Carter Backer Winter CROMLEY BMS: Director Disqualified from Occupying Executive Post FAIRMILE FENCING: Hires KPMG as Liquidator FASHION FORWARD: Meeting of Creditors Set FIRBANK KEMPSTER: Sets Meeting of Creditor Mid-October G2 SOLUTIONS: May Name Liquidator this Week GOODSONIC LIMITED: Names Moore Stephens Liquidator HCCM SYSTEMS: Creditors to Meet this Week H.P. SOURCE: Appoints Tenon Recovery Liquidator LARK CONSTRUCTION: Public Auction of Assets Set Tomorrow LAW LINK: Extraordinary Winding up Resolution Passed LUDA PET: Members Final Meeting Set Later this Month MANAGEMENT SCIENCE: Names Numerica Administrator MARCONI CORPORATION: Re-selling Newport's Session Controller MARINE TECHNOLOGIES: Hires Begbies Traynor as Administrator MASSEY AND KING: Names Grant Thornton Liquidator MEADWALL LIMITED: Calls in Liquidator from Turpin Barker MOLEC POWER: To Take up Administrator's Proposals Wednesday PELLINI SHOES: Sets Creditors' Meeting PINEAPPLE FABRICATIONS: Names Administrator from Haines Watts PRIMESTOCK MANCHESTER: Administrator's Proposals Out this Week QUEENSWAY CARPETS: Hires Liquidator from Moore Stephens RED PEPPER: Calls in Liquidator from Leonard Curtis & Co. REXCOM SERVICES: Extraordinary Winding up Resolution Passed RMTA LIMITED: Members Pass Winding up Resolutions RTW LIMITED: Hires Liquidator from BDO Stoy Hayward SCOTT-GRANT: Hires Joint Administrators from Begbies Traynor SKYEPHARMA PLC: Appoints New Non-executive Director SPECTRUM PROJECTS: Sets Creditors Meeting Next Week TCB SERVICES: Creditors May Appoint Liquidator this Week UNIMAX TRADING: Statement of Affairs Out Wednesday ********* ============= B E L G I U M ============= KBC BANK: Individual Rating Raised to 'B'; Outlook Stable --------------------------------------------------------- Fitch Ratings upgraded KBC Bank's (KBCB) Individual Rating to 'B' from 'B/C'. At the same time the Short-term, Long-Term and Support ratings are affirmed at 'F1+', 'AA-' and '2', respectively. The Outlook for the Long-Term rating remains Stable. The upgrade of the Individual rating is based on the bank's strong franchise in Belgium, satisfactory profitability, solid asset quality and sound capital. The rating also takes into account the risks related to the bank's presence in Central Europe (CE). However, these are declining thanks to improved control and monitoring, as well as a less volatile operating environment in a number of these countries. With a market share ranging between 20% and 25% for most deposit and loan products in Belgium, KBCB is one of the three largest banks in the country. KBCB has a higher market share in Flanders and is clearly viewed as the leading Flemish bank. Operating profit was up in H104 as a result of a rise in net interest revenue, commissions and trading income, combined with a decline in costs. While Fitch is concerned that the bank's income remains vulnerable to market volatility, the agency believes that the bank should continue to profit from expense reduction initiatives. Moreover, in the long term, KBCB is expected to benefit from more diversified income streams in CE, particularly from the sale of asset management and bancassurance products. KBCB's asset quality remains sound with impaired loans accounting for less than 4% of total loans at mid-2004. The problems at the bank's Polish subsidiary, Kredyt Bank, no longer weighed on consolidated loan loss provisions during H104. KBCB has traditionally been more active in the capital markets than many of its peers, but by diversifying and controlling the related risks, it has reduced its overall exposure. Thus, the bank's market risk is manageable. KBCB's Tier 1 ratio of 9.40% at end-June 2004 is strong, but Fitch considers a sound capital base necessary for KBCB due to the risks in CE. Management raised its targeted minimum Tier 1 ratio in 2002 to 8% from 7% previously. Nevertheless, any significant drop from current solvency levels would put negative pressure on the ratings. CONTACT: FITCH RATINGS Alain Branchey; Paris Phone: +33 1 44 29 9129 Claudia Nelson; London Phone: +44 207 417 4269 Campbell McIlroy (Media Relations/London) Phone: +44 20 7417 4327 KBC BANK Web site: http://www.kbc.be =========== F R A N C E =========== PERONNE INDUSTRIE: CEO Considers Filing for Bankruptcy ------------------------------------------------------ Peronne Industrie will file for bankruptcy, declared newly hired CEO Alain Gillet last week. It is not clear when the company will file its petition, but Les Echos says the Amiens commercial court will have jurisdiction over it. Once filed, the court will decide whether or not to put the company into compulsory liquidation. The company has been booking losses for several years now. In August 2003, managers reportedly tried to dismantle and move a number of assembly lines to Italy while employees were on vacation. Formerly named Flodor de Peronne, Perrone Industrie belongs to Italian snack group Unichips and manufactures the Flodor Crisps. CONTACT: PERONNE INDUSTRIE S.A. RCS Peronne B 306 350 612 UNICHIPS INTERNATIONAL B.V. Via Turati, 29 20121 Milano Phone: 02 62651 Fax: 02 6551139 E-mail: mailbox@unichips.com Web site: http://www.unichips.com VIVENDI UNIVERSAL: Chairman Wants to Double Shareholding -------------------------------------------------------- Given that first half of 2004 financial statements were published on September 14 and that they were thoroughly discussed in the public arena, Jean-Rene Fourtou, Vivendi Universal's (Paris Bourse: EX FP; NYSE: V) Chairman and Chief Executive Officer, has informed the Board of Directors he intends to purchase shares of the company on the stock market for his own account, several times over a number of days. These purchases could double Mr. Fourtou's current holdings of 185,629 shares. CONTACT: VIVENDI UNIVERSAL S.A. Media/Paris Antoine Lefort Phone: +33 (0) 1 71 71 11 80 or Agnes Vetillart Phone: +33 (0) 1 71 71 30 82 or Alain Delrieu Phone: +33 (0) 1 71 71 10 86 Investor Relations/Paris Daniel Scolan Phone: +33 (0) 1 71 71 32 91 or Laurence Daniel Phone: +33 (0) 1 71 71 12 33 Media/New York Flavie Lemarchand Phone: 212-572-1118 Investor Relations/New York Eileen McLaughlin Phone: 212-572-8961 ============= G E R M A N Y ============= ARING ARCHITEKTUR: Hires Administrator from Pluta Rechtsanwalts --------------------------------------------------------------- The district court of Chemnitz opened bankruptcy proceedings against architecture and engineering services firm ARING Architektur- und Ingenieurburo GmbH on September 6. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 15, 2004 to register their claims with court-appointed provisional administrator Dr. Stephan Thiemann of Pluta Rechtsanwalts GmbH. Creditors and other interested parties are encouraged to attend the meeting on November 11, 2003, 11:30 a.m. at Saal 28, Gerichtsgebaude Furstenstrasse 21, Chemnitz at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: ARING ARCHITEKTUR- UND INGENIEURBURO GMBH Contact: Wolfgang Branny, Manager Dr. Andreas Munch, Manager Robert-Blum-Strasse 23, 09456 Annaberg-Buchholz PLUTA RECHTSANWALTS GMBH Dr. Stephan Thiemann, Insolvency Manager Leipziger Str. 62, 09113 Chemnitz Web site: http://www.pluta.net B.A.K. ISOLIER: Creditors' Claims Due Next Month ------------------------------------------------ The district court of Dortmund opened bankruptcy proceedings against B.A.K. Isolier- und Bautenschutz GmbH on September 10. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until November 10, 2004 to register their claims with court-appointed provisional administrator Achim Thomas Thiele. Creditors and other interested parties are encouraged to attend the meeting on October 27, 2004, 1:20 p.m. at the district court of Dortmund at which time the administrator will present his first report of the insolvency proceedings. The court will verify the claims set out in the administrator's report on December 29, 2004, 9:00 a.m. at the same venue. CONTACT: B.A.K. ISOLIER- UND BAUTENSCHUTZ GMBH Landwehrstr. 84, 59192 Bergkamen Contact: Zeki Karatas, Manager Prasidentenstr. 63, 59192 Bergkamen Ruhi Aslantas, Manager Keplerstr. 3, 59192 Bergkamen Achim Thomas Thiele, Insolvency Manager Bronnerstrasse 7, 44141 Dortmund Phone: 54110 Fax: 5411266 DISTRICT COURT OF DORTMUND Nebenstelle, Gerichtsplatz 1, 44135 Dortmund, II. Etage, Saal 3.201 CREMER GRUNDSTUCKSGEMEINSCHAFT: Under Bankruptcy Administration --------------------------------------------------------------- The district court of Aachen opened bankruptcy proceedings against Cremer Grundstucksgemeinschaft GbR on September 10. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 20, 2004 to register their claims with court-appointed provisional administrator Johannes Klefisch. Creditors and other interested parties are encouraged to attend the meeting on November 23, 2004, 9:25 a.m. at the district court of Aachen at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: CREMER GRUNDSTUCKSGEMEINSCHAFT GBR Kastanienweg 21, 52249 Eschweiler Contact: Inge Cremer, Manager Willi Cremer, Manager Johannes Klefisch, Insolvency Manager Rotter Bruch 6, 52068 Aachen Phone: 0241/949740 Fax: 0241/870203 DISTRICT COURT OF AACHEN Nebenstelle Augustastrasse Augustastrasse 78/80, 52070 Aachen II. Etage, Zimmer 21 EB FISCHFEINKOST: Magdeburg Court Brings in Administrator --------------------------------------------------------- The district court of Magdeburg opened bankruptcy proceedings against EB Fischfeinkost Calbe GmbH on September 6. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 18, 2004 to register their claims with court-appointed provisional administrator Michael Schreiber. Creditors and other interested parties are encouraged to attend the meeting on November 17, 2004, 9:40 a.m. at Saal E, Insolvenzabteilung, Liebknechtstrasse 65-91, 39110 Magdeburg at which time the administrator will present his first report of the insolvency proceedings. CONTACT: EB FISCHFEINKOST CALBE GMBH VerschOnerungsweg 32, 39240 Calbe (HRB 13184) Contact: Matthias Knauft, Manager Verschonerungsweg 32, 39240 Calbe Michael Schreiber, Insolvency Manager Halberstadter Strasse 40a, 39112 Magdeburg Phone: 0391/6223886 Fax: 0391/6223887 HK BAU: Construction Firm Applies for Bankruptcy Proceedings ------------------------------------------------------------ The district court of Essen opened bankruptcy proceedings against construction firm HK Bau GmbH on September 13. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 21, 2004 to register their claims with court-appointed provisional administrator Thorsten Klepper. Creditors and other interested parties are encouraged to attend the meeting on November 5, 2004, 9:20 a.m. at the district court of Essen at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: HK BAU GMBH Bauminghausstr. 72, 45326 Essen Thorsten Klepper, Insolvency Manager Friedrich-List-Str. 20, 45128 Essen Phone: 0201 4 38 40 16 Fax: 0201 4 38 40 43 DISTRICT COURT OF ESSEN Hauptstelle, Zweigertstr. 52 45130 Essen, I.OG, gelber Bereich, Saal 185 HORIZONT GERUSTBAU: Sets Creditors' Meeting November ---------------------------------------------------- The district court of Chemnitz opened bankruptcy proceedings against Horizont Gerustbau GmbH on September 9. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 20, 2004, 2:00 p.m. to register their claims with court-appointed provisional administrator Joachim Schneider. Creditors and other interested parties are encouraged to attend the meeting on November 23, 2004, 2:00 p.m. at Raum 204, im Gerichtsgebaude Furstenstrasse 21, Chemnitz at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: HORIZONT GERUSTBAU GMBH (HRB 5894) Hans-Henning Brockmann, Greizer Strasse 15, 08499 Mylau OT Obermylau Joachim Schneider, Insolvency Manager Tatzendpromenade 2 a, 07745 Jena KARSTADTQUELLE AG: Schroeder Scores Former Management ----------------------------------------------------- Chancellor Gerhard Schroeder hit KarstadtQuelle's previous management for causing the company to undergo massive restructuring, the Associated Press says. Criticized for the country's unemployment rate of over 10%, Mr. Schroeder pledged government support for the company, but did not specify what these support were. He called the KarstadtQuelle's current state a "blatant management failure." Economics Minister Wolfgang Clement, on Bayerishcer Rundfunk radio, said the government would help save jobs through the Federal Labor Agency but did not give further details. "We are ready to move, but now it's up to the company to act," he said. KarstadtQuelle CEO Christoph Achenbach announced Tuesday a massive restructuring that entails selling 77 of its 181 department stores across Germany and issuing EUR500 million of shares. The company did not provide figures as to how many jobs would be affected by the sale, excluding the 4,000 already announced. CONTACT: KARSTADTQUELLE AG Theodor-Althoff-Str. 2 D-45133 Essen Phone: +49 - 201 - 727 - 1 Fax: +49 - 201 - 727 - 5216 Web site: http://www.karstadtquelle.com "MARIENBILD" GMBH: Koln Court Appoints Provisional Administrator ---------------------------------------------------------------- The district court of Koln opened bankruptcy proceedings against food caterer "MARIENBILD" GmbH on September 7. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until November 9, 2004 to register their claims with court-appointed provisional administrator Dr. Andreas Ringstmeier. Creditors and other interested parties are encouraged to attend the meeting on November 30, 2004, 11:00 a.m. at the district court of Koln at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: "MARIENBILD" GMBH Aachener Strasse 561, 50933 Koln Contact: Helmut Karl Alexander Schmitt, Manager Dr. Andreas Ringstmeier, Insolvency Manager Magnusstr. 13, 50672 Koln Phone: 0221/650 660 Fax: +49221650661 DISTRICT COURT OF KOLN Hauptstelle, Luxemburger Strasse 101 50939 Koln, Erdgeschoss, Saal 14 PHILIPP HOLZMANN: Sells Last Remaining Unit to Geiger ----------------------------------------------------- Construction group Philipp Holzmann has sold its last operating subsidiary, Zeidler & Wimmel, to domestic rival Geiger, Die Welt says. Zeidler & Wimmel specializes in floor coverings and facades and employs around 85 people. Around 350 of Holzmann's subsidiaries and divisions have been sold off or liquidated since the company entered into insolvency proceedings two-and-a-half years ago. Its U.S. subsidiary J.A. Jones was forced to file for insolvency proceedings in September 2003. Once the country's largest construction group, Holzmann now employs only 150, a far cry from the 10,580 during its heydays. Around 7,000 of these workers were absorbed by buyers of its assets. Over 9,000 claims worth several billion euros have been filed against the company since insolvency proceedings began. CONTACT: ZEIDLER & WIMMEL GMBH & CO. Konsul-Metzing-Strasse 7-9 D-97268 Kirchheim/Ufr. Phone: 09366/9069-0 Fax: 09366/1329 RUSCHMEIER ANHANGERBAU: Administrator Takes over Helm ----------------------------------------------------- The district court of Koln opened bankruptcy proceedings against Ruschmeier Anhangerbau GmbH on September 9. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 4, 2004 to register their claims with court-appointed provisional administrator Dr. Henning Dohrmann. Creditors and other interested parties are encouraged to attend the meeting on November 4, 2004, 10:52 a.m. at the district court of Koln at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: RUSCHMEIER ANHANGERBAU GMBH Contact: Michael Ruschmeier, Manager Hauptstr. 14, 51647 Gummersbach Dr. Henning Dohrmann, Insolvency Manager Moltkestr. 12, 51643 Gummersbach Phone: 02261/9279-0 Fax: +49226192799 DISTRICT COURT OF KOLN Hauptstelle, Luxemburger Strasse 101 50939 Koln, 1. Etage, Saal 142 THERMO-TECHNIK: First Creditors Meeting Set Later this Month ------------------------------------------------------------ The district court of Charlottenburg opened bankruptcy proceedings against Thermo-Technik Servicegesellschaft on September 9. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until November 26, 2004 to register their claims with court-appointed provisional administrator Joachim Voigt. Creditors and other interested parties are encouraged to attend the meeting on October 27, 2004, 9:25 a.m. at which time the administrator will present his first report of the insolvency proceedings. The court will verify the claims set out in the administrator's report on January 26, 2005, 9:35 a.m. at the district court of Charlottenburg. CONTACT: THERMO-TECHNIK SERVICEGESELLSCHAFT Haftung, Holzstrasse 16,13359 Berlin Joachim Voigt, Insolvency Manager Rankestrasse 33, 10789 Berlin DISTRICT COURT OF CHARLOTTENBURG Amtsgerichtsplatz 1, 14057 Berlin, II. Stock Saal 218 ========= I T A L Y ========= ALITALIA SPA: Signing of Pact Endorsing Rehab Plan Tomorrow ----------------------------------------------------------- Alitalia's management, trade unions and the government will sign the final agreement ratifying the carrier's restructuring plan tomorrow, Les Echos says. All but one of Alitalia's nine unions have agreed to support management's plan to split the company into two. On Wednesday the government is expected to pass a measure that will help 3,700 redundant employees gain access to state unemployment benefits. The agreement will allow Alitalia to unlock a EUR400 million state-backed bridging loan to finance its operations while implementing its 2005-2008 business plan. CONTACT: ALITALIA S.p.A. Viale A. Marchetti 111 00148 Rome, Italy Phone: +39 06 6562 2151 Fax: +39 06 6562 4733 Web site: http://www.alitalia.it PARMALAT FINANZIARIA: Assets of Former Executives Seized -------------------------------------------------------- An Italian court ordered last week the confiscation of the assets of 17 former high-ranking officers of Parmalat Finanziaria, local reports say. In June, the court issued a similar ruling against 10 former managers and board members. Concurrently, it gave Enrico Bondi, Parmalat's bankruptcy commissioner, the right to sue ex-Parmalat officers and consultants for restitution up to EUR6.9 billion (US$8.5 billion). Mr. Bondi succeeded Wednesday to bring the total number of Parmalat executive, sanctioned for their role in the collapse of the company, to 27. The court said these former high-ranking officers, internal auditors and ex-board members, who worked with or in the firm between 1998 and 2003, all cooperated in the financial manipulations that led to the collapse of the group in December. Twenty-one of them currently face investigation by prosecutors in Parma for bankruptcy fraud, accounting fraud, money laundering and embezzlement. In addition to this, Mr. Bondi has also sued Citigroup, UBS, Deutsche Bank, and Parmalat's former auditors Deloitte Touche Tohmatsu and Grant Thornton International for compensation of more than EUR20 billion. Prosecutors in Milan have requested the indictments of at least 29 people suspected of market rigging, false communications to the public, and obstructing market regulators. The first hearing is slated today. CONTACT: PARMALAT FINANZIARIA 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 ===================== N E T H E R L A N D S ===================== GETRONICS N.V.: DSM Extends ICT Infrastructure Management Pact -------------------------------------------------------------- DSM, the global manufacturer of life science products, performance materials and industrial chemicals, has once again chosen Getronics as its strategic partner for the management of PC seats and local ICT infrastructures in Europe and Asia- Pacific. In addition, Getronics' services will also be required in North and South America. Since 2002, Getronics has ensured that DSM's worldwide standardized PC and server environment stays up-to-date and operational. DSM's one-year contract with Getronics will run from 1 January 2005 and has an initial value of about EUR13 million. The contract encompasses almost forty countries, including the U.S., Canada, Belgium, Italy, France, Hungary, Spain, South Africa, Singapore, India, Australia, Japan, Vietnam, Mexico, Argentina and Chile. Jo van den Hanenberg, DSM's Chief Information Officer: "In 2000 and 2001, we standardized PCs and laptops worldwide as part of the so-called 'Aurora' project. Subsequently, the accompanying provision of the associated services underwent a sweeping, worldwide standardization. This resulted in a structural decrease in ICT costs. By extending and expanding the service contract signed with Getronics in 2002, DSM continues, together with its partner, along this path of improvements and cost reductions." Oswald Coene, Member of the Getronics' Board of Management: "DSM's decision to extend the existing Getronics contract once again proves the trust clients place in us when it comes to Network and Desktop Outsourcing, one of the spearheads of our services portfolio. In our long-term strategy, we are also aiming at further growth in our international provision of services. This contract shows that we are heading in the right direction." About Getronics With approximately 22,000 employees in over 30 countries and ongoing revenues of EUR2.6 billion in 2003, Getronics is one of the world's leading providers of vendor independent Information and Communication Technology (ICT) solutions and services. Getronics designs, integrates and manages ICT infrastructures and business solutions for many of the world's largest global and local companies and organizations, helping them maximize the value of their information technology investments. Getronics Netherlands ranks among the largest providers of ICT services domestically. Over 5,000 employees daily execute and manage advanced ICT solutions for large and middle-sized organizations. Getronics' headquarters are in Amsterdam, with regional offices in Boston, Madrid and Singapore. Getronics' shares are traded on Euronext Amsterdam (GTN). For further information about Getronics, visit http://www.getronics.com About DSM DSM is active worldwide in life science and nutritional products, performance materials and industrial chemicals. The company creates innovative products and services that help improve the quality of life. DSM's products are being applied in a wide range of end markets and applications such as human and animal nutrition and health, cosmetics, pharmaceuticals, automotive and transport, coatings, housing and electrics & electronics (E&E). The group has annual sales (pro forma including the recent acquisition -- renamed DSM Nutritional Products) of approximately EUR8 billion and employs around 25,000 people worldwide. DSM ranks among the global leaders in many of its fields. DSM is headquartered in the Netherlands, with locations in Europe, Asia and the Americas. More information about DSM can be found at http://www.dsm.com. * * * As reported by TCR-Europe on July 9, 2004, Standard & Poor's Ratings Services assigned its 'B+' senior secured debt rating and a recovery rating of '4' to the new EUR175 million (US$216 million) credit facilities of The Netherlands-based IT services and products provider Getronics N.V. (B+/Positive/--). The facilities comprise a EUR100 million revolving credit facility and a EUR75 million acquisition facility, both maturing in 2007. The bank loan has been rated 'B+', the same level as the corporate credit rating on the group because, despite the loan's secured status, recovery expectations are less than 100% in the event of default. CONTACT: GETRONICS N.V. Investor Relations Phone: +31 20 586 1581 Fax: +31 20 586 1455 E-mail: investor.relations@getronics.com HAGEMEYER N.V.: Names New CEO for Central European Operations ------------------------------------------------------------- Hagemeyer N.V. (Euronext Amsterdam: HGM) has appointed Paul Zekhuis CEO of Hagemeyer Central Europe in addition to his current responsibilities. Paul Zekhuis, member of the PPS Executive Committee, has been responsible for Hagemeyer Germany since June 1, 2004 and prior to that he was the CEO of HTG Nederland (Bernard). He will take over the overall responsibility for the operating companies in the Central European region from Edo van den Assem, who will leave Hagemeyer at year's end. As a consequence of this appointment, the managing directors of HTG Nederland (Bernard), Winterhalter + Fenner in Switzerland and Hagemeyer Austria will report to Paul Zekhuis from December 1, 2004. CONTACT: Hagemeyer N.V. Rijksweg 69 1411 GE Naarden, The Netherlands Phone: +31-35-695-76-11 Fax: +31-35-694-43-96 Web site: http://www.hagemeyer.nl HAGEMEYER N.V.: Gets AU$700 Million for Tech Pacific ---------------------------------------------------- CVC Asia Pacific and Hagemeyer N.V. (Euronext Amsterdam: HGM) announce the sale of Tech Pacific to U.S.-based Ingram Micro. Tech Pacific is the leading distributor of IT products in the Asia-Pacific region (excluding China). The total consideration for Tech Pacific is approximately AU$700 million (approximately EUR405 million at current exchange rates), based on Tech Pacific's enterprise value and to be corrected for debt, cash and certain movements in other net asset values as per the date of completion of the transaction. In June 2003, Hagemeyer sold Tech Pacific to funds advised by CVC Asia Pacific but retained an interest of 31.5% in Tech Pacific, with 58.5% owned by CVC Asia Pacific funds and 10% by management. As per June 30, 2004 the book value of Hagemeyer's 31.5% participation in Tech Pacific was EUR25.8 million. As a result of the announced transaction, Hagemeyer is expected to realize a book gain of approximately EUR60 million at current exchange rates. Net cash proceeds of the sale of Tech Pacific for Hagemeyer are expected to be approximately AU$ 150 million (approximately EUR85 million at current exchange rates), of which a small part will be kept in escrow. The final amount is subject to various adjustments upon completion of the transaction, which is expected prior to December 31, 2004. The cash proceeds will be used to pay off part of Hagemeyer's senior debt. The financing facilities available to Hagemeyer will be reduced accordingly. The sale of Tech Pacific is conditional upon a number of regulatory approvals. CVC Asia Pacific CVC Asia Pacific is part of one of the world's largest private equity groups, CVC Capital Partners Europe (CVC Europe). CVC Asia Pacific is a joint venture between CVC Europe and Citigroup, one of the world's leading financial institutions, and manages US$750 million of funds in the Asia Pacific region. CVC Europe manages over US$9 billion of private equity funds in Europe. Other recent notable CVC Asia Pacific transactions include, in Australia, the acquisition and IPO of Pacific Brands and the acquisition of the private hospital business, Affinity Health, from Mayne, in Korea, the acquisitions of Hai Tai confectionery, leading cinema chain CJCGV, in Hong Kong, the acquisition of Asia Printers and in Singapore, the acquisition of the Yellow Pages business. Hagemeyer Hagemeyer N.V. is a Dutch company listed on the Euronext Amsterdam Stock Exchange. Hagemeyer is a value added business-to-business distribution services group focusing on the markets for electrical materials, safety and other MRO (Maintenance Repair and Operations) products. With approximately 17,500 employees Hagemeyer serves its more than 1 million customers with products from some 10,000 suppliers through 1,250 locations in 27 countries in Europe, North America and Asia-Pacific, giving rise to annual sales in excess of EUR5 billion. Ingram Micro Ingram Micro is listed on the New York Stock Exchange. Ingram Micro is the world's largest technology distributor and a leading technology sales, marketing and logistics company. As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics services, technical support, financial services and product aggregation and distribution. The company offers a broad array of solutions and services to nearly 165,000 resellers by distributing and marketing hundreds of thousands of IT products worldwide from nearly 1,400 suppliers. CONTACT: Hagemeyer N.V. Rijksweg 69 1411 GE Naarden, The Netherlands Phone: +31-35-695-76-11 Fax: +31-35-694-43-96 Web site: http://www.hagemeyer.nl KONINKLIJKE AHOLD: Settles Dispute with Public Prosecutor --------------------------------------------------------- The Dutch prosecution service has fined Koninklijke Ahold EUR8 million (US$9.85 million) to settle charges of financial misrepresentation. Ahold is accused of illegally using so-called side letters, or secret deals alongside contracts, and publishing false accounts and 20-F forms for the U.S. Securities and Exchange Commission. On Thursday the prosecutors said the settlement price was the maximum it could have fined the Dutch retailer. Ahold executive board member and chief legal counsel Peter Wakkie welcomed the decision. He said: "We firmly believe that this settlement is the best solution for all our stakeholders. This will prevent a lengthy, costly and time consuming legal procedure." Meanwhile, analysts, while agreeable to the sanction, are at the same time apprehensive of the implications of the ruling in relation to other pending cases against the company. They fear the verdict could be used to strengthen civil cases against it, including a U.S. class action suit. Ahold already faces internal inquiry over the consolidation of its units even before the profit overstatement scandal at its U.S. Foodservice broke out last year. The question was why did the retailer fully consolidate several of its units, such as ICA in Scandinavia, when it does not have majority control of these. The public prosecution said: "Ahold recognizes, without reservation, the improper use of side letters and accepts that its decision to fully consolidate the joint ventures . . . should not have been taken." Ahold has fully consolidated its joint ventures with BomprecoPar in Brazil, Velox in Argentina, ICA Forbundet Invest AB in Scandinavia and La Fragua S.A. in Guatemala. It conceded it should not have done so. CONTACT: KONINKLIJKE AHOLD P.O. Box 3050 1500 HB Zaandam Netherlands Phone: +31 (0)75 659 57 20 Fax: +31 (0)75 659 83 02 Web site: http://www.ahold.com Corporate Communications Phone: +31.75.659.57.20 PETROPLUS INTERNATIONAL: Delays Equity, Senior Notes Offering ------------------------------------------------------------- With reference to the press releases of 18 May 2004, 17 June 2004, 27 July 2004 and 3 September 2004, Petroplus International N.V. and RIVR Acquisition B.V. jointly announce that they have agreed that the outstanding pre-offer conditions for the launch of the Equity Offer, the Consent Solicitation and the Senior Notes Offer will need to be satisfied no later than 6 weeks from Thursday. As indicated in the press releases referred to above, the making of the Equity Offer and Senior Notes Offer (the Offers) and the Consent Solicitation is subject to the satisfaction of certain pre-offer conditions. It has taken longer than expected to satisfy certain of these conditions, and in particular the execution of definitive financing agreements and reaching agreement with, and obtaining consents from, certain third parties in respect of certain material contracts. This press release also appears in Dutch. In the event of any inconsistency, the English version will prevail over the Dutch version. * * * This is a joint press release of Petroplus International N.V. and RIVR Acquisition B.V. This is not for release, publication or distribution, in whole or in part, in or into the United States, Canada, Australia or Japan. This announcement and related materials do not constitute an offer for either the ordinary shares in Petroplus International N.V. or the 10.5% Senior Notes due 2010, but the expectation is justified that an offer will be made in due course. With reference to the press releases of 18 May 2004, 17 June 2004, 27 July 2004 and 3 September 2004, Petroplus and RIVR announced: (i) an intended public offer by RIVR for all outstanding ordinary shares in the share capital of Petroplus with an offer price of EUR 8.00 in cash per ordinary share (the Equity Offer); (ii) an intended consent solicitation from holders of a majority of the 10.5% Senior Notes due 2010 (Senior Notes) for proposed amendments to (or deletions of) certain provisions set out in the trust deed (Consent Solicitation); and (iii) an intended public offer for the Senior Notes at 101% of the par value, consisting of an offer of 100% of the par value for the Senior Notes and a 1% fee payable if the consent is given (the Senior Notes Offer). Profile of Petroplus Petroplus was established 10 years ago and has since developed into a leading player in the European midstream oil market. The midstream sector encompasses refining, marketing and logistics (predominantly tank storage). Petroplus is the owner of refineries in Antwerp (Belgium), Cressier (Switzerland) and Teesside (United Kingdom) with a total capacity of 240,000 barrels per day including its Antwerp desulphurisation capacity. Petroplus has a sales volume in excess of 23 million tons a year of oil products and a storage capacity of almost 5 million m3 throughout Western Europe. Petroplus, with its head office in Rotterdam and regional head offices in Zug and Hamburg, has branch offices in more than 20 countries and employs approximately 1000 employees. Petroplus is publicly listed in the NextPrime segment of the Official Segment of Euronext Amsterdam N.V. The Carlyle Group and Riverstone Holdings The Carlyle Group is a global private equity firm with more than US$18.3 billion under management. The Carlyle Group employs a conservative, proven, and disciplined investment approach. The Carlyle Group invests in buyouts, venture, real estate, and leveraged finance, in North America, Europe, and Asia, focusing on aerospace, automotive & transportation, consumer, defense, energy & power, healthcare, industrial, technology & business services, and telecommunications & media. Since 1987, the firm has invested US$10.8 billion of equity in 300 transactions. The Carlyle Group employs more than 540 people in 14 countries. The Carlyle Group will participate in the transaction through the combined equity investments from its European buyout fund and its dedicated energy and power fund. The Carlyle Group manages two buyout funds in Europe: (i) Carlyle Europe Partners I, a EUR1 billion fund launched in 1998 which has completed 16 investments, and is now fully invested and (ii) Carlyle Europe Partners II, which has completed three transactions worth over EUR2 billion. A team of 40 investment professionals located in five offices across Europe manages Carlyle Europe Partners I and Carlyle Europe Partners II. Riverstone Holdings LLC and The Carlyle Group are the co-general partners of the Carlyle/Riverstone Global Energy and Power Fund II, a US$1.1 billion private equity fund established to make investments in the energy and power industry globally. Riverstone, a New York-based energy and power focused private equity firm founded in 2000, has approximately USD 1.5 billion under management with Carlyle. Riverstone conducts buyout and growth capital investments in the midstream, upstream, power, and oilfield service sectors of the energy industry. To date, the firm has committed approximately US$875 million to 10 investments across these four sectors. * * * In its 2004 semi-annual results Petroplus reported that its six- month net income before non-recurring items was EUR1.9 million compared to a loss of EUR2.4 million in the same period last year. Including non-recurring items, the six-month net income was EUR50.5 million (which includes EUR46 million proceeds from the sale of Tango) compared to a loss of EUR42.4 million in the same period last year (which included a EUR40 million provision for the write down and reorganization of the Antwerp refinery). CONTACT: PETROPLUS INTERNATIONAL N.V. P.O. Box 85002 3009 MA Rotterdam The Netherlands Phone: +31 (0)10 242 5900 Fax: +31 (0)10 242 6052 E-mail: IR@petroplus.nl Web site: http://www.petroplusinternational.com Martijn L.D. Schuttevaer Investor Relations Manager Phone: + 31 10 242 6046 Mobile: + 31 65 208 3014 E-mail: M.L.Schuttevaer@Petroplus.nl CARLYLE: Katherine Elmore-Jones Director of European Communications Phone: +44 20 78 94 1200 E-mail: Katherine.ElmoreJones@Carlyle.com =========== N O R W A Y =========== FINDEXA II: Moody's Withdraws Rating on Debt Securities ------------------------------------------------------- Moody's Investors Service withdrew the Ba3 senior implied rating and the B2 unsecured issuer rating of Findexa II a.s. at the company's request. It concurrently withdrew the senior notes rating of the company following repayment of the debt securities. After the completion of its IPO in May, Findexa tendered for and redeemed in full its EUR145 million 10.25% senior notes due 2011. No rated debt remains outstanding. Findexa, through its indirectly wholly owned subsidiary Findexa a.s., is the leading publisher of classified directories in Norway. For the twelve months ended 31 December 2003, Findexa generated consolidated operating revenue of NOK1,609 million. =========== R U S S I A =========== 6TH CHANNEL: Names V. Ostoverkh Insolvency Manager -------------------------------------------------- The Arbitration Court of Moscow region has commenced bankruptcy proceedings against 6TH Channel (TIN 7710412731) after finding the close joint stock company insolvent. The case is docketed as A40-53240/03-86-38B. Mr. V. Ostoverkh has been appointed insolvency manager. Creditors have until October 20, 2004 to submit their proofs of claim to 129366, Russia, Moscow, Yaroslavskaya Str. 13a. CONTACT: 6TH CHANNEL 103070, Russia, Moscow, Staraya Square, 10/4 Mr. V. Ostoverkh Insolvency Manager 129366, Russia, Moscow, Yaroslavskaya Str. 13a AERONAUTICAL TECHNICAL: Under Bankruptcy Supervision ---------------------------------------------------- The Arbitration Court of Chelyabinsk region has commenced bankruptcy supervision procedure on noncommercial enterprise Aeronautical Technical Sport Club Of Gornozavodskaya Zone of Chelyabinsk Region Osto Rf. The case is docketed as A76- 10727/04-55-22. Mr. A. Naydyenov has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to 454091, Russia, Chelyabinsk, Svobody Str. 76-2. A hearing will take place on December 2, 2004. CONTACT: AERONAUTICAL TECHNICAL SPORT CLUB OF GORNOZAVODSKAYA ZONE OF CHELYABINSK REGION OSTO RF Russia, Chelyabinsk region, Tryekhgorniy, Mira Pr. 6 Mr. A. Naydyenov Temporary Insolvency Manager 454091, Russia, Chelyabinsk, Svobody Str. 76-2 MEDTEKHNIKA: Hires O. Charkov as Insolvency Manager --------------------------------------------------- The Arbitration Court of Perm region has commenced bankruptcy proceedings against Medtekhnika after finding the medical equipment company insolvent. The case is docketed as A50- 6007/2004-B. Mr. O. Charkov has been appointed insolvency manager. Creditors have until October 20, 2004 to submit their proofs of claim to 618400, Russia, Perm region, Berezniki, Post User Box 1686. CONTACT: MEDTEKHNIKA Russia, Perm region, Berezniki, Potyemina Str. 8 Mr. O. Charkov Insolvency Manager 618400, Russia, Perm region, Berezniki, Post User Box 1686 NORTH-URAL: Undergoes Bankruptcy Supervision Procedure ------------------------------------------------------ The Arbitration Court of Chelyabinsk region has commenced bankruptcy supervision procedure on OJSC North-Ural Ore-Metal Company. The case is docketed as A76-10175/04-48-34. Mr. Y. Moskalenko has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to 620131, Russia, Ekaterinburg, Post user Box 99. A hearing will take place on November 4, 2004. CONTACT: NORTH-URAL ORE-METAL COMPANY 454006, Russia, Chelyabinsk, Rossiyskaya Str. 67 Mr. Y. Moskalenko Temporary Insolvency Manager 620131, Russia, Ekaterinburg, Post user Box 99 NOVOZYBKOVSKAYA GARMENT: Declared Insolvent ------------------------------------------- The Arbitration Court of Bryansk region has commenced bankruptcy proceedings against Novozybkovskaya Garment Stockinet Factory Im. 8th of March after finding the open joint stock company insolvent. The case is docketed as A09-494/04-26. Mr. M. Slanko has been appointed insolvency manager. Creditors have until October 20, 2004 to submit their proofs of claim to 243020, Russia, Bryansk region, Novozybkov, Chapaeva Str. 28. CONTACT: NOVOZYBKOVSKAYA GARMENT STOCKINET FACTORY IM. 8TH OF MARCH Russia, Bryansk region, Novozybkov, Chapaeva Str. 28 Mr. M. Slanko Insolvency Manager 243020, Russia, Bryansk region, Novozybkov, Chapaeva Str. 28 POLITOVSKOYE BREAD: Proofs of Claim Due this Week ------------------------------------------------- The Arbitration Court of Lipetsk region has commenced bankruptcy proceedings against Politovskoye Bread Receiving Enterprise after finding the open joint stock company insolvent. The case is docketed as A36-14-B/1-04. Mr. A. Gulynskiy has been appointed insolvency manager. Creditors have until October 7, 2004 to submit their proofs of claim to Russia, Lipetsk region, Dankovskiy region, Politovo. CONTACT: POLITOVSKOYE BREAD RECEIVING ENTERPRISE Russia, Lipetsk region, Dankovskiy region, Politovo Mr. A. Gulynskiy Insolvency Manager Russia, Lipetsk region, Dankovskiy region, Politovo SENGILEEVSKIY CEMENT: Ulyanov Court Appoints Insolvency Manager --------------------------------------------------------------- The Arbitration Court of Ulyanov region has commenced bankruptcy proceedings against Sengileevskiy Cement Plant after finding the state unitary enterprise insolvent. The case is docketed as A72-6262/03-H4-B. Mr. D. Shirshikov has been appointed insolvency manager. Creditors have until October 20, 2004 to submit their proofs of claim to 430027, Russia, Mordoviya republic, Saransk, Gagarina Str. 99A. CONTACT: SENGILEEVSKIY CEMENT PLANT 433381, Russia, Ulyanov region, Sengileevskiy region, Tsemzavod, Kooperativnaya Str. 5A Mr. D. Shirshikov Insolvency Manager 430027, Russia, Mordoviya republic, Saransk, Gagarina Str. 99A Phone: 8-83-42-331-400 SEREBRYANO-PRUDSKIY PIT: Succumbs to Bankruptcy ----------------------------------------------- The Arbitration Court of Moscow region has commenced bankruptcy proceedings against Serebryano-Prudskiy Pit after finding the state unitary enterprise insolvent. The case is docketed as A41-K2-4470/04. Mr. A. Karzanov has been appointed insolvency manager. Creditors have until October 20, 2004 to submit their proofs of claim. CONTACT: SEREBRYANO-PRUDSKIY PIT 142956, Russia, Moscow region, Serebryano-Prudskiy region, Shemetovo, Kurbatovo Mr. A. Karzanov Insolvency Manager 111250, Russia, Moscow, Krasnokazarmennaya Str. 9 SHAKHOVSKIY: Proofs of Claim Deadline to Expire this Month ---------------------------------------------------------- The Arbitration Court of Moscow region has commenced bankruptcy proceedings against Shakhovskiy after finding the woodwork factory insolvent. The case is docketed as A41-K2-3430/04. Ms. O. Krachkovskaya has been appointed insolvency manager. Creditors have until October 20, 2004 to submit their proofs of claim to 107078, Russia, Moscow, Post User Box 281. CONTACT: SHAKHOVSKIY 143700, Russia, Moscow region, Shakhovskoy region, Shakhovskaya, Volochanovskoye shosse, 3 Ms. O. Krachkovskaya Insolvency Manager 107078, Russia, Moscow, Post User Box 281 TYUMEN-LIFT: Declared Insolvent ------------------------------- The Arbitration Court of Tyumen region has commenced bankruptcy proceedings against Tyumen-Lift after finding the open joint stock company insolvent. The case is docketed as A70-2844/3-04. Mr. A. Shinkarenko has been appointed insolvency manager. Creditors have until October 20, 2004 to submit their proofs of claim to Russia, Tyumen, 30 Let Pobedy Str. 78-26. CONTACT: TYUMEN-LIFT Russia, Tyumen, Gastello Str. 78 Mr. A. Shinkarenko Insolvency Manager Russia, Tyumen, 30 Let Pobedy Str. 78-26 YUKOS OIL: Govt Delays Decision on Yuganskneftegaz's Licenses ------------------------------------------------------------- Regulators on Thursday delayed its decision on whether or not to revoke the subsoil licenses of Yukos' main subsidiary for failing to pay taxes, the Associated Press reports. The ministerial committee in charge of reviewing licenses did not take up the issue against Yuganskneftegaz at its meeting, Natural Resources Ministry spokesman Nikolai Gudkov said. He did not say when the issue will be considered again. The decision is important in light of the unit's possible sale to pay Yukos' US$7.5 billion back-tax bill. Yuganskneftegaz, which accounts for 60% of Yukos' total production, could lose significant value once its licenses are revoked. CONTACT: YUKOS OIL International Information Department Hugo Erikssen Phone: +7 095 540 6313 E-mail: inter@yukos.ru 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 YUKOS OIL: China National Demands Performance of Export Contract ---------------------------------------------------------------- China National Petroleum Corporation called on Yukos Oil to fulfill its export contracts with China weeks after the Russian company suspended shipments to the country. The Chinese oil conglomerate assured a temporary suspension in exports would not impact domestic oil supply, but urged in a statement: "In accordance with the Crude Oil Trading Agreement between CNPC and Yukos, Yukos shall export crude oil to CNPC in a volume of 3.86 million tons in year 2004." Yukos supplies 7% of Chinese oil needs. It added: "Up to [Thursday], Yukos has fulfilled its export volume of 2.84 million tons. Yukos stopped oil loading to the tank train on September 20 2004." Russia has promised to maintain oil exports to China. Russia's Deputy Energy Minister Ivan Materov was quoted by RIA Novosti saying other companies will take up the void left by Yukos. He did not name these companies. Yukos suspended exports to China after warning that its dispute with the government over its tax bill has made it unable to finance transport and other export costs. It promised to continue smaller deliveries to another Chinese oil company, Sinopec. CONTACT: YUKOS OIL International Information Department Hugo Erikssen Phone: +7 095 540 6313 E-mail: inter@yukos.ru 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 I T Z E R L A N D ===================== CONVERIUM AG: Rating Watch Revised to Positive ---------------------------------------------- Fitch Ratings revised the rating watch on Converium AG's 'BB+' IFS rating and Converium Holding AG's 'B' Long-Term rating to Positive from Evolving. This rating action follows the extraordinary general meeting on 28 September 2004, at which Converium's shareholders approved an increase in the company's share capital of CHF533 million. The approved capital increase has been underwritten, subject to customary conditions, by a syndicate of banks. Based on information available, the agency expects to upgrade Converium AG's IFS rating and Converium Holding AG's Long-Term rating by one notch to 'BBB-' and 'B+' respectively, on completion of the rights issue. The upgrade will reflect Converium's improved levels of capitalization in addition to the improved competitive position of the company. At the same time, the agency has downgraded Converium Holdings (North America) Inc.'s Long-term rating and US$200 million October 2023 unsecured senior notes rating to 'B-' from 'B', and simultaneously withdrawn the ratings. The unsecured notes were originally issued by Zurich Reinsurance Centre Holdings Inc and subsequently assumed by Converium Holdings (North America) Inc. This action resolves the Rating Watch Evolving on which the ratings were placed on 14 September 2004. The decision to downgrade and withdraw the ratings on Converium Holdings (North America) Inc. reflects the lack of explicit support from Converium AG or from Converium Holding AG to the U.S. holding company. Fitch believes that the U.S. operations, including the debt, may not benefit from the additional capital to be raised by Converium, and should thus be viewed on a stand- alone basis going forward. This follows Converium's decision to place its US operations into run-off. The agency believes that it is no longer appropriate to maintain these ratings on a public information basis due to lack of adequate disclosures to support a robust stand-alone analysis. Fitch will continue to monitor Converium's relationships with cedants and brokers to determine the impact of franchise damage on new sales and the company's ability to compete in its existing markets. The Rating Watch on Converium AG and Holding AG will be resolved after completion of the rights issue transaction. CONTACT: FITCH RATINGS Andrew Murray, London Phone: +44 (0) 20 7417 4303 Chris Waterman, London Phone: +44 (0) 20 7417 6328 Media Relations: Campbell McIlroy, London Phone: +44 20 7417 4327 CONVERIUM HOLDING: Board Member from R+V Versicherung Resigns ------------------------------------------------------------- Dr. Jurgen Forterer, CEO of R+V Versicherung, Wiesbaden, resigned from the Board of Directors of Converium Holding Ltd. effective September 29, 2004. This decision is a result of Converium's future focus on small and medium-sized clients in Europe, which leads to direct competition with the reinsurance business of R+V Versicherung. In order to avoid any conflict of interest Dr. Forterer has decided to step back from the Board of Directors of Converium Holding Ltd. The Board of Directors, of which Dr. Forterer was a member since Converium's Initial Public Offering, thanks him for his valuable contributions. About Converium Converium is an independent international multi-line reinsurer known for its innovation, professionalism and service. Today Converium employs approximately 850 people in 23 offices around the globe and is organized into three business segments: Standard Property & Casualty Reinsurance, Specialty Lines and Life & Health Reinsurance. Converium Ltd has a "BBB" rating (watch positive) from Standard & Poor's. Converium Holding Ltd has a "B++" (outlook stable) rating from A.M. Best Company. CONTACT: CONVERIUM HOLDINGS Michael Schiendorfer Media Relations Manager Phone: +41 (0) 1 639 96 57 Fax: +41 (0) 1 639 76 57 E-mail: michael.schiendorfer@converium.com Zuzana Drozd Head of Investor Relations Phone: +41 (0) 1 639 91 20 Fax: +41 (0) 1 639 71 20 E-mail: zuzana.drozd@converium.com ============= U K R A I N E ============= DMK-TRADING: Dnipropetrovsk Court Orders Liquidation ---------------------------------------------------- The Economic Court of Dnipropetrovsk commenced bankruptcy proceedings against DMK-Trading (code EDRPOU 31329795) on August 10, 2004 after finding the limited liability company insolvent. The case is docketed as B 15/38/03. Mr. V. Bezpalov has been appointed liquidator/insolvency manager. The company holds account number 26008003980000 at JSCIB Ukrsibbank, Dnipropetrovsk branch, MFO 306856. CONTACT: DMK-TRADING 51925, Ukraine, Dnipropetrovsk region, Dniprodzerzhinsk, Lenin Avenue, 3/711 Mr. V. Bezpalov Liquidator/Insolvency Manager 49081, Ukraine, Dnipropetrovsk region, Vorontsov Avenue, 75/232 Phone: (0562) 23-41-67 ECONOMIC COURT OF DNIPROPETROVSK REGION 49600, Ukraine, Dnipropetrovsk region, Kujbishev Str. 1a HIMOTEKS: Temporary Insolvency Manager Takes over Operations ------------------------------------------------------------ The Economic Court of Lviv region has commenced bankruptcy supervision procedure on LLC Himoteks (code EDRPOU 25549218). The case is docketed as 6/244-29/205. Arbitral manager Mr. R. Ulyanik (License Number AA 669647 approved on August 6, 2003) has been appointed temporary insolvency manager. The company holds account number 26005000750000 at JSCIB Ukrsibbank, Lviv branch, MFO 385327. Creditors have until October 10, 2004 to submit their proofs of claim to: (a) LLC HIMOTEKS 79026, Ukraine, Lviv region, Akademik Lazarenko Str. 2 (b) Mr. R. Ulyanik Temporary Insolvency Manager 79052, Ukraine, Lviv region, Shiroka Str. 90/16 (c) ECONOMIC COURT OF LVIV REGION 79010, Ukraine, Lviv region, Lichakivska Str. 81 KOMTEHINVEST: Applies for Bankruptcy Proceedings ------------------------------------------------ The Economic Court of Kyiv commenced bankruptcy proceedings against Komtehinvest (code EDRPOU 23513558) on August 25, 2004 after finding the limited liability company insolvent. The case is docketed as 15/75-b. Arbitral manager Mr. Leonid Sirotenko (License Number AA 630119 approved on December 19, 2003) has been appointed liquidator/insolvency manager. CONTACT: KOMTEHINVEST Ukraine, Kyiv region, Nauki Avenue, 61 Ukraine, Kyiv region, 40-Richya Zhovtnya Avenue, 50 Mr. Leonid Sirotenko Liquidator/Insolvency Manager 01034, Ukraine, Kyiv region, Volodimirska Str. 48/2 Phone: (044) 246-37-05 ECONOMIC COURT OF KYIV REGION 01030, Ukraine, Kyiv region, B. Hmelnitskij Boulevard, 44-B SOLE: Bankruptcy Proceedings Begin ---------------------------------- The Economic Court of Dnipropetrovsk commenced bankruptcy proceedings against SOLE (code EDRPOU 19153155) on August 26, 2004 after finding the limited liability company insolvent. The case is docketed as B 24/111/04. Arbitral manager Mr. Leonid Talan has been appointed liquidator/insolvency manager. CONTACT: SOLE 49600, Ukraine, Dnipropetrovsk region, Lenin Str. 24 Mr. Leonid Talan Liquidator/Insolvency Manager 49000, Ukraine, Dnipropetrovsk region, a/b 158 Phone: (0562) 92-53-18 ECONOMIC COURT OF DNIPROPETROVSK REGION 49600, Ukraine, Dnipropetrovsk region, Kujbishev Str. 1a SVITANOK: Sets Deadline for Filing of Claims -------------------------------------------- The Economic Court of Kirovograd region commenced bankruptcy supervision procedure on OJSC Svitanok (code EDRPOU 22209841). The case is docketed as 10/102. Arbitral manager Mr. Kosarenko Vadim (License Number AA 484182 of December 20, 2002) has been appointed temporary insolvency manager. The company holds account number 260093566 at JSPPB Aval. Creditors have until October 10, 2004 to submit their proofs of claim to: (a) SVITANOK 26400, Ukraine, Kirovograd region, Ulyanova, Lenin Lane, 10 (b) THE ECONOMIC COURT OF KIROVOGRAD REGION 25000, Ukraine, Kirovograd region, Lunacharski str. 29 VINNITSYA AGRICULTURAL: Under Bankruptcy Supervision ---------------------------------------------------- The Economic Court of Vinnitsya region commenced bankruptcy supervision procedure on OJSC Vinnitsya Agricultural Machine- Technological Station (code EDRPOU 30324094) on April 29, 2004. The case is docketed as 5/313-04. Arbitral manager Mr. Yuhim Kozenuk (License Number AA 668346 approved on November 7, 2003) has been appointed temporary insolvency manager. The company holds account number 260033013676 at Prominvestbank, Vinnitsya central branch, MFO 3025721. Creditors have until October 10, 2004 to submit their proofs of claim to: (a) OJSC VINNITSYA AGRICULTURAL MACHINE-TECHNOLOGICAL STATION 23210, Ukraine, Vinnitsya region, Vinnitsya district, Sosonka, Lenin Str. 4 (b) Mr. Yuhim Kozenuk Temporary Insolvency Manager 21001, Ukraine, Vinnitsya region, Chervonih Kursantiv Str. 8 (c) ECONOMIC COURT OF VINNITSYA REGION 21036, Ukraine, Vinnitsya region, Hmelnitske shose, 7 =========================== U N I T E D K I N G D O M =========================== ABBEY COACHWORKS: Hires Ernst & Young as Administrator ------------------------------------------------------ C P Dempster and M Rollings have been appointed as joint administrators for Abbey Coachworks (Northampton) Limited. The appointment was made September 14, 2004. The registered office of the body repair center is located at Reynard House, Castlefield Road, Reigate, Surrey RH2 0SA. CONTACT: ERNST & YOUNG LLP 10 George Street, Edinburgh EH2 2DZ Joint Administrators: C P Dempster M Rollings (IP No 8908, 8107) Web site: http://www.ey.com AUTOMOTIVE PRECISION: Members Agree to Wind up Business ------------------------------------------------------- At an extraordinary general meeting of the Automotive Precision Holdings Plc on September 20, 2004 held at Euston Plaza Hotel, 17-18 Upper Woburn Place, London WC1H 0HT, the extraordinary and ordinary resolutions to wind up the company were passed. Neil Tombs and Andrew Menzies of Grant Thornton UK LLP, Enterprise House, 115 Edmund Street, Birmingham B3 2HJ have been appointed joint liquidators of the company for the purpose of the voluntary winding-up. CONTACT: GRANT THORTON UK LLP Enterprise House 115 Edmund Street, Birmingham B3 2HJ Phone: 0121 212 4000 Fax: 0121 212 4014 Web site: http://www.grant-thornton.co.uk BESS LIMITED: Names Joint Administrators from Gerald Edelman ------------------------------------------------------------ Ian Douglas Yerrill and Bernard Hoffman have been appointed as joint administrators for Bess Limited. The appointment was made September 22, 2004. The company is engaged in general construction and civil engineering. Its registered office is located at Kent House, Station Road, Ashford, Kent TN23 1PP. CONTACT: GERALD EDELMAN BUSINESS RECOVERY 25 Harley Street, London W1G 9BR Joint Administrators: Ian Douglas Yerrill Bernard Hoffman (IP Nos 8924, 1593) Phone: 020 7299 1400 Fax: 020 7299 1401 E-mail: gemail@geraldedelman.com Web site: http://www.geraldedelman.com BJ'S TRADE: In Administrative Receivership ------------------------------------------ Bibby Factors Slough Limited called in Michael William Young and Nigel John Hamilton-Smith as joint administrative receivers for Bj's Trade Bindery Limited (Reg No 03789094, Trade Classification: 10). The application was filed September 22, 2004. The company is engaged in printing and binding. CONTACT: VANTIS BUSINESS RECOVERY Torrington House, 47 Holywell Hill, St Albans, Hertfordshire AL1 1HD Joint Administrative Receivers: Michael William Young Nigel John Hamilton-Smith (Office Holder Nos 8077, 2093) Phone: 01727 811111 Web site: http://www.vantisplc.co.uk BROMLEY SCHOOL: Appoints Tenon Recovery Administrator ----------------------------------------------------- S R Thomas and S D Burkett-Coltman have been appointed as joint administrators for Bromley School Of English Ltd. (formerly Shane Global Village (London Bromley) Ltd). The appointment was made September 22, 2004. The company is an educational institution and language school. Its registered office address is c/o Tenon Recovery, 73 Baker Street, London W1U 6RD. CONTACT: TENON RECOVERY 73 Baker Street, London W1U 6RD Joint Administrators: S R Thomas S D Burkett-Coltman (IP Nos 8920, 8191) Phone: 020 7935 5566 Fax: 020 7935 3512 E-mail: bakerstreet@tenongroup.com Web site: http://www.tenongroup.com CAFE GRAND: Names Numerica Liquidator ------------------------------------- At an extraordinary general meeting of the Cafe Grand Prix Limited on September 21, 2004 held at 66 Wigmore Street, London W1U 2SB, the extraordinary and ordinary resolutions to wind up the company were passed. Nicholas Hugh O'Reilly and Jonathan Mark Birch of Numerica, PO Box 2653, 66 Wigmore Street, London W1U 2SB have been appointed joint liquidators for the purpose of such winding-up. CONTACT: NUMERICA PO Box 2653, 66 Wigmore Street, London W1A 3RT Phone: 020 7467 4000 Fax: 020 7284 4995 Web site: http://www.numerica.biz COUNTY ROOFING: Calls in Liquidator from Carter Backer Winter ------------------------------------------------------------- At an extraordinary general meeting of the members of the County Roofing Services Limited on September 15, 2004 held at Enterprise House, 21 Buckle Street, London E1 8NN, the extraordinary and ordinary resolutions to wind up the company were passed. John Alfred George Alexander and Melvyn Julian Carter of Carter Backer Winter, Enterprise House, 21 Buckle Street, London E1 8NN have been appointed joint liquidators of the company. CONTACT: CARTER BACKER WINTER Enterprise House, 21 Buckle Street, London E1 8NN Phone: + 44 (0) 20 7309 3800 Fax: + 44 (0) 20 7309 3801 E-mail: info@cbw.co.uk Web site: http://www.cbw.co.uk CROMLEY BMS: Director Disqualified from Occupying Executive Post ---------------------------------------------------------------- The director of a boiler maintenance business that failed with total debts estimated at around GBP145,000 has given an Undertaking not to hold directorships or take any part in company management for four years. The Undertaking by John Moore, 54, of Priory Road, Gosport, Hampshire, was given in respect of his conduct as a director of Cromley BMS Limited, which carried out business from premises at Unit 5, Grove Way, Mansfield Woodhouse, Mansfield. The acceptance of the Undertaking on September 23, 2004 prevents Mr. Moore from being a director of a company or, in any way, whether directly or indirectly, being concerned or taking part in the promotion, formation or management of a company for the above period. Cromley BMS Limited was placed into voluntary liquidation on October 29, 2002 with estimated debts of GBP145,000 owed to creditors. The Insolvency Service, on behalf of the Secretary of State for Trade & Industry, has responsibility (under Section 6 of the Company Directors Disqualification Act 1986) for the investigation of the conduct of directors of failed companies and for the disqualification of those who are considered to be unfit to be involved in the management of companies in the future. Matters of unfit conduct, not disputed by Mr. Moore: (a) from February 2000 until the date of liquidation he failed to ensure that Cromley complied with its statutory obligations to file VAT returns; (b) from June 30, 2001 until the date of liquidation he caused Cromley to trade to the detriment of HM Customs and Excise, with the result that its indebtedness to HM Customs and Excise increased by GBP32,000; and (c) from May 19, 2001 until the date of liquidation he caused Cromley to trade to the detriment of the Inland Revenue. CONTACT: THE INSOLVENCY SERVICE 21 Bloomsbury Street London, WC1B 3QW Web site: http://www.insolvency.gov.uk Disqualification Unit Phone: 020 7291 6807 020 7291 6832 (Vetting) E-mail: Disqualification.Unit@insolvency.gsi.gov.uk Criminal Allegations Team Phone: 020 7291 6841 E-mail: criminal.allegations@insolvency.gsi.gov.uk FAIRMILE FENCING: Hires KPMG as Liquidator ------------------------------------------ At an extraordinary general meeting of the Fairmile Fencing Limited on September 17, 2004 held at KPMG, 2 Cornwall Street, Birmingham B3 2DL, the extraordinary and ordinary resolutions to wind up the company were passed. Mark Jeremy Orton and Allan Watson Graham of KPMG have been appointed joint liquidators for the purpose of such winding-up. CONTACT: KPMG LLP 2 Cornwall Street Birmingham B3 2RT Phone: (0121) 232 3000 Fax: (0121) 232 3500 Web site: http://www.kpmg.co.uk FASHION FORWARD: Meeting of Creditors Set ----------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Fashion Forward Ltd. Notice is hereby given, pursuant to section 98 of the Insolvency Act 1986, that a meeting of Creditors of Fashion Forward Ltd. will be held at 4 Dancastle Court 14 Arcadia Avenue London N3 2HS on October 6, 2004 at 11:00 a.m. for the purpose of having a full statement of the position of the Company's affairs, together with a list of the Creditors of the Company and the estimated amount of their claims, laid before them, and for the purpose, if thought fit, of nominating a Liquidator and of appointing a Liquidation Committee. (Sections 99-101 of the said Act) In accordance with section 98 (2) Insolvency Act 1986, a list of Creditors' names and addresses will be available for inspection, free of charge, at Valentine & Co., 4 Dancastle Court 14 Arcadia Avenue London N3 2HS two business days prior to the meeting. By Order of the Board. A. Fitzpatrick, Director September 15, 2004 CONTACT: VALENTINE & CO. 4 Dancastle Court 14 Arcadia Avenue London N3 2HS Phone: 020 8343 3710 Fax: 020 9343 4486 Web site: http://www.valentine-co.com FIRBANK KEMPSTER: Sets Meeting of Creditor Mid-October ------------------------------------------------------ The general meeting of the unsecured creditors of Firbank Kempster International Limited will be on October 14, 2004 commencing at 12:00 noon. It will be held at 8 Baker Street, London W1U 3LL. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to BDO Stoy Hayward, 8 Baker Street, London W1U 3LL not later than 12:00 noon, October 13, 2004. CONTACT: BDO STOY HAYWARD LLP 8 Baker Street London W1U 3LL Phone: 020 7486 5888 Fax: 020 7487 3686 E-mail: london@bdo.co.uk Web site: http://www.bdostoyhayward.co.uk G2 SOLUTIONS: May Name Liquidator this Week ------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF G2 Solutions Ltd. Notice is hereby given, pursuant to section 98 of the Insolvency Act 1986, that a meeting of Creditors of G2 Solutions Ltd. will be held at 3 The Quadrant Coventry CV1 2DY on October 6, 2004 at 11:00 a.m. for the purpose of having a full statement of the position of the Company's affairs, together with a list of the Creditors of the Company and the estimated amount of their claims, laid before them, and for the purpose, if thought fit, of nominating a Liquidator and of appointing a Liquidation Committee. (Sections 99-101 of the said Act) In accordance with section 98 (2) Insolvency Act 1986, a list of Creditors' names and addresses will be available for inspection, free of charge, at BRI Business Recovery, 3 The Quadrant Coventry CV1 2DY two business days prior to the meeting. By Order of the Board. S. Hunwick, Director September 17, 2004 CONTACT: BRI BUSINESS RECOVERY 3 The Quadrant Coventry CV1 2DY Phone: 02476 634884 Fax: 02476 231551 E-mail: gbates@briuk.co.uk GOODSONIC LIMITED: Names Moore Stephens Liquidator -------------------------------------------------- At an extraordinary general meeting of the Goodsonic Limited on September 17, 2004 held at Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB, the extraordinary and ordinary resolutions to wind up the company were passed. Nigel Price of Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB has been appointed liquidator of the company for the purpose of the voluntary winding-up. CONTACT: MOORE STEPHENS CORPORATE RECOVERY Beaufort House 94-96 Newhall Street, Birmingham B3 1PB Liquidator: Nigel Price Phone: 0121 233 2557 Web site: http://www.moorestephens.co.uk HCCM SYSTEMS: Creditors to Meet this Week ----------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF HCCM Systems Ltd. Notice is hereby given, pursuant to section 98 of the Insolvency Act 1986, that a meeting of Creditors of HCCM Systems Ltd. will be held at 3 The Quadrant Coventry CV1 2DY on October 6, 2004 at 12:00 noon for the purpose of having a full statement of the position of the Company's affairs, together with a list of the Creditors of the Company and the estimated amount of their claims, laid before them, and for the purpose, if thought fit, of nominating a Liquidator and of appointing a Liquidation Committee. (Sections 99-101 of the said Act) In accordance with section 98 (2) Insolvency Act 1986, a list of Creditors' names and addresses will be available for inspection, free of charge, at BRI Business Recovery, 3 The Quadrant Coventry CV1 2DY two business days prior to the meeting. By Order of the Board. S. Hunwick, Director September 17, 2004 CONTACT: BRI BUSINESS RECOVERY 3 The Quadrant Coventry CV1 2DY Phone: 02476 634884 Fax: 02476 231551 E-mail: gbates@briuk.co.uk H.P. SOURCE: Appoints Tenon Recovery Liquidator ----------------------------------------------- At an extraordinary general meeting of the H.P. Source Limited on September 22, 2004 held at Tenon House, Ferryboat Lane, Sunderland SR5 3JN, the subjoined extraordinary resolution to wind up the company was passed. Ian William Kings of Tenon Recovery, Tenon House, Ferryboat Lane, Sunderland SR5 3JN has been appointed liquidator for the purpose of such winding-up. CONTACT: TENON RECOVERY Tenon House Ferryboat Lane, Sunderland SR5 3JN Liquidator: Ian William Kings Phone: 0191 511 5000 Fax: 0191 511 5001 Web site: http://www.tenongroup.com LARK CONSTRUCTION: Public Auction of Assets Set Tomorrow -------------------------------------------------------- Nigel Morrison and Richard Hawes, Joint Administrative Receivers, will sell the assets of Lark Construction Limited (in Administrative Receivership) on October 5, 2004, 12:00 noon, at Wheelers Transport Yard, Unit 2, The Polden Business Centre, Bridgewater, Somerset, TA6 4AW. For sale are: (a) Landrover '110 Defender TD5 XS' Estate (2003-53); (b) Ford 'Focus LX TDCi' 5 Door Hatchback (2002-02); (c) Fiat 'Multipla 115 ELX' People Carrier (2002-02); (d) Ford 'Focus Zetec TDCi' 5 Door Hatchback (2003-03); (e) Ford 'Focus 'LX TD Di' 5 Door Hatchback (2001-51); (f) Two Ford 'Mondeo LX TD Ci' 4 Door Saloon (2002-51); (g) Ford 'Mondeo LX TD Di' 4 Door Saloon (2003-51); (h) Five Ford 'Mondeo LX TD' 5 Door Hatchback (1996N to 2000W); (i) Two Peugeot '307 Rapier Hdi' Saloon (2002-02); (j) Peugeot '307 SW SE Hdi' Estate (2002-52); (k) Peugeot '307 S Hdi' 110bhp 5 Door Hatchback (2003-53); (l) Lexus 'LS400' 4 Door Saloon (1994L); (m) Four Peugeot 'Partner 800 LX' Diesel Panel Van (2002-51); (n) Two Peugeot 'Partner 600 Diesel Van (1999V/1998R); (o) Four Peugeot '106 XAD' Diesel Van (1997/8R); (p) Ford 'Transit 350' LWB Dropside Truck (2002-02); (q) Two Ford 'Transit 100' Diesel Panel Van (1997P); (r) Four Ford 'Fiesta 35' Diesel Van (1997P); and (s) Citroen 'Berlingo 1.9D 600' Diesel Van (2002-51). Inspection of assets will be on October 4, 2004, from 1:00 p.m. to 5:00 p.m. and on the sale auction day from 9:00 a.m. to 12:00 noon. A buyer's premium of 12.5% is charged on all lots and is added to the final sale price. CONTACT: HENRY BUTCHER INTERNATIONAL Will Hancock Phone: +44 (0)20 7098 3700 +44 (0)7836 688 457 Fax: +44 (0)20 7098 3795 E-mail: will.hancock@henrybutcher.com LAW LINK: Extraordinary Winding up Resolution Passed ---------------------------------------------------- At an extraordinary general meeting of the Law Link (Legal Expenses) Limited on September 23, 2004 held at DTE Leonard Curtis, DTE House, Hollins Mount, Bury BL9 8AT, the extraordinary resolution to wind up the company was passed. A Poxon of DTE Leonard Curtis, DTE House, Hollins Mount, Bury BL9 8AT has been appointed the liquidator of the company for the purpose of such winding-up. CONTACT: DTE LEONARD CURTIS DTE House, Hollins Mount, Bury BL9 8AT Phone: 0161 767 1200 Fax: 0161 767 1201 Web site: http://www.dtegroup.com LUDA PET: Members Final Meeting Set Later this Month ---------------------------------------------------- Name of Companies: Luda Pet Food Limited Neslaw No.1 Limited The final meeting of the members of these companies will be on October 29, 2004 commencing at 10:30 a.m. and 10:45 a.m. respectively. It will be held at KPMG LLP, 8 Salisbury Square, London EC4Y 8BB. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with KPMG LLP, 8 Salisbury Square, London EC4Y 8BB not later than 12:00 noon, October 28, 2004. CONTACT: KPMG LLP PO Box 695, 8 Salisbury Square, London EC4Y 8BB Joint Liquidator: S Treharne Phone: (020) 7311 1000 Fax: (020) 7311 3311 Web site: http://www.kpmg.co.uk MANAGEMENT SCIENCE: Names Numerica Administrator ------------------------------------------------ Frank Wessely and Nicholas Hugh O'Reilly have been appointed as joint administrators for Management Science Corporation Ltd. The appointment was made September 20, 2004. The company is engaged in management consultancy. Its registered office is located at 11 Wells Mews, London W1T 3HD. CONTACT: NUMERICA 81 Station Road, Marlow, Buckinghamshire SL7 1SX Joint Administrator: Frank Wessely (IP No 7788) Phone: 01628 478100 Fax: 01628 472629 Web site: http://www.numerica.biz NUMERICA PO Box 2653, 66 Wigmore Street, London W1A 3RT Joint Administrator: Nicholas Hugh O'Reilly (IP No 8309) Phone: 020 7467 4000 Fax: 020 7284 4995 Web site: http://www.numerica.biz MARCONI CORPORATION: Re-selling Newport's Session Controller ------------------------------------------------------------ Newport Networks Group PLC (London: NNG) announces that Marconi Corporation plc (London: MONI and NASDAQ: MRCIY) has enhanced its next-generation SoftSwitch platform with a carrier-class Session BORDER='0' Controller (SBC) provided by Newport Networks under a worldwide reseller agreement. The combined solution will enable operators to police the provision of new next- generation network services more thoroughly and reduce the cost of interoperability between networks. The new Marconi-Newport Networks relationship is a combination of a worldwide reseller agreement and a strategic product development partnership. It builds on a Memorandum of Understanding signed by the two firms in December 2003 for the provision and exchange of SBC technology. The partnership will work on a number of initiatives such as the development of Session Initiation Protocol interfaces and interoperability between network technologies. "This agreement with Newport Networks continues to ensure that the Marconi SoftSwitch harnesses 'best-in-class' technology to deliver the next-generation network," said Martin Harriman, chief marketing officer, Marconi Corporation plc. "The Newport Networks' 1460 Session Controller sits at the core of our SoftSwitch solution. Its selection by Marconi for this key, strategic role is an endorsement of the product and its carrier- class credentials." SBCs can be located at two areas within the Next-Generation Network (NGN): between the user and the SoftSwitch; and between different service providers' networks. SBCs are critical to the control of the NGNs as they allow IP- connected users, such as Digital Subscriber Line (DSL) customers, controlled access to the network. SBCs that sit between service providers' networks interconnect traffic using IP, making interoperability between new networks a reality. The 1460 Session Controller is ideal for Tier 1 service providers and can handle around 70,000 simultaneous calls, corresponding to around 700,000 subscribers. John Everard, chief executive of Newport Networks Group PLC, stated: "We are delighted to conclude this important reseller agreement with Marconi. The solution combines the advantages of the Marconi SoftSwitch with the carrier class Newport Networks Session Controller. Collectively these products better address the growing needs of major Service Providers around the world." CONTACT: NEWPORT NETWORKS GROUP PLC Press and analyst enquiries John Everard, Chief Executive NEWPORT NETWORKS Phone: +44 20 7920 3150 Justin Griffiths/Simon Hudson, Tavistock Communications Phone: +44 20 7920 3150 MARCONI CORPORATION PLC Press enquiries Patrick Murphy Phone: + 44 115 906 4151 E-mail: patrick.murphy@marconi.com Investor enquiries Heather Green Phone: + 44 207 306 1735 E-mail: heather.green@marconi.com Industry Analyst enquiries Skip MacAskill Phone: +44 2476 56 3705 E-mail: skip.macaskill@marconi.com MARINE TECHNOLOGIES: Hires Begbies Traynor as Administrator ----------------------------------------------------------- David Hill and Andrew H Beckingham have been appointed as joint administrators for Marine Technologies Limited. The appointment was made September 10, 2004. The company is engaged in marine engineering. Its registered office is located at The Old School, Forgeside, Blaenavon, Torfaen NP4 9DD. CONTACT: BEGBIES TRAYNOR 4th Floor, Riverside House, 31 Cathedral Road, Cardiff CF11 9HB Phone: 029 2022 5022 Fax: 029 2022 4523 E-mail: cardiff@begbies-traynor.com Web site: http://www.begbies.com BEGBIES TRAYNOR 58 Queen Square, Bristol BS1 4LF Phone: 0117 929 4800 Fax: 0117 922 0114 Web site: http://www.begbies.com MASSEY AND KING: Names Grant Thornton Liquidator ------------------------------------------------ At a meeting of the Massey And King Limited on September 22, 2004, the special resolution to wind up the company was passed. Leslie Ross of Grant Thornton UK LLP, St Johns Centre, 110 Albion Street, Leeds LS2 8LA has been appointed liquidator of the company for the purpose of the voluntary winding-up. CONTACT: GRANT THORNTON UK LLP St Johns Centre, 110 Albion Street, Leeds LS2 8LA Phone: 0113 245 5514 Fax: 0113 246 5055 Web site: http://www.grant-thornton.co.uk MEADWALL LIMITED: Calls in Liquidator from Turpin Barker -------------------------------------------------------- At an extraordinary general meeting of the Meadwall Limited on September 22, 2004 held at Allen House, 1 Westmead Road, Sutton, Surrey SM1 4LA, the extraordinary resolutions to wind up the company were passed. Martin Charles Armstrong of Turpin Barker Armstrong, Allen House, 1 Westmead Road, Sutton, Surrey SM1 4LA has been appointed liquidator of the company. CONTACT: TURPIN BARKER ARMSTRONG Allen House 1 Westmead Road, Sutton, Surrey SM1 4LA Phone: +44 (0) 20 8661 7878 Fax: +44 (0) 20 8661 0598 E-mail: tba@turpinba.co.uk Web site: http://www.turpinba.co.uk MOLEC POWER: To Take up Administrator's Proposals Wednesday ----------------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Molec Power Ltd. Notice is hereby given that a Meeting of Creditors of Molec Power Ltd. is to be held at Holiday Inn Chester South Wrexham Road Chester CH4 9OL on October 6, 2004 at 11:00 a.m. to consider my proposals under section 23(1) of the Insolvency Act 1986, and to consider establishing a Creditors' Committee. A person is entitled to vote at the Meeting only if he has submitted details of his claim to the Administrator at DTE House Hollins Mount Bury BL9 8AT not later than 12:00 noon the business day before the meeting. A proxy form should be completed and returned by the date of the Meeting, if you cannot attend the Meeting and wish to be represented. A copy of my proposals is available, on written request, to the Administrator DTE House Hollins Mount Bury BL9 8AT. A. Poxon, Joint Administrator September 17, 2004 CONTACT: DTE LEONARD CURTIS DTE House Hollins Mount Bury BL9 8AT Phone: 0161 767 1200 Fax: 0161 767 1201 Web site: http://www.dtegroup.com PELLINI SHOES: Sets Creditors' Meeting -------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Pellini Shoes Ltd. Notice is hereby given that a Meeting of Creditors of Pellini Shoes Ltd. is to be held at 1 Bede Island Road Bede Island Business Park Leicester LE2 7EA on October 6, 2004 at 2:00 p.m. to consider my proposals under section 23(1) of the Insolvency Act 1986, and to consider establishing a Creditors' Committee. A person is entitled to vote at the Meeting only if he has submitted details of his claim to the Administrator at 1 Bede Island Road Bede Island Business Park Leicester LE2 7EA not later than 12:00 noon the business day before the meeting. A proxy form should be completed and returned by the date of the Meeting, if you cannot attend the Meeting and wish to be represented. A copy of my proposals is available, on written request, to the Administrator 1 Bede Island Road Bede Island Business Park Leicester LE2 7EA. Dilip K. Dattani, Joint Administrator September 17, 2004 CONTACT: TENON RECOVERY 1 Bede Island Road Bede Island Business Park Leicester LE2 7EA Phone: 0116 222 1101 Fax: 0116 222 1102 E-mail: leicester@tenongroup.com Web site: http://www.tenongroup.com PINEAPPLE FABRICATIONS: Names Administrator from Haines Watts ------------------------------------------------------------- John David Travers has been appointed as administrator for Pineapple Fabrications Limited. The appointment was made September 22, 2004. The company is engaged in steel and aluminum fabrication. CONTACT: HAINES WATTS Canterbury House, 85 Newhall Street, Birmingham B3 1LH Phone: 0121 212 4477 Fax: 0121 212 4459 Web site: http://www.hwca.com PRIMESTOCK MANCHESTER: Administrator's Proposals Out this Week -------------------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Primestock (Manchester) Ltd. Notice is hereby given that a Meeting of Creditors of Primestock (Manchester) Ltd. is to be held at Premier Lodge Bishops Gate 7- 11 Lower Mosley Street Manchester M2 3DW on October 6, 2004 at 11:00 a.m. to consider my proposals under section 23(1) of the Insolvency Act 1986, and to consider establishing a Creditors' Committee. A person is entitled to vote at the Meeting only if he has submitted details of his claim to the Administrator at 100 Barbirolli Square Lower Mosley Street Manchester M2 3EY not later than 12:00 noon the business day before the meeting. A proxy form should be completed and returned by the date of the Meeting, if you cannot attend the Meeting and wish to be represented. A copy of my proposals is available, on written request, to the Administrator 100 Barbirolli Square Lower Mosley Street Manchester M2 3EY. S. Allport, Joint Administrator September 20, 2004 CONTACT: ERNST & YOUNG 100 Barbirolli Square Lower Mosley Street Manchester M2 3EY Phone: +44 [0]161 333 3000 Fax: +44 [0]161 333 3001 Web site: http://www.ey.com QUEENSWAY CARPETS: Hires Liquidator from Moore Stephens ------------------------------------------------------- At an extraordinary general meeting of the Queensway Carpets Limited on September 22, 2004 held at Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB, the extraordinary and ordinary resolutions to wind up the company were passed. Nigel Price of Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB has been appointed liquidator of the company for the purpose of the voluntary winding-up. CONTACT: MOORE STEPHENS CORPORATE RECOVERY Beaufort House 94-96 Newhall Street, Birmingham B3 1PB Liquidator: Nigel Price Phone: 0121 233 2557 Web site: http://www.moorestephens.co.uk RED PEPPER: Calls in Liquidator from Leonard Curtis & Co. --------------------------------------------------------- At an extraordinary general meeting of the Red Pepper Group Limited on September 22, 2004 held at Leonard Curtis & Co, One Great Cumberland Place, Marble Arch, London W1H 7LW, the extraordinary resolution to wind up the company was passed. S D Swaden of Leonard Curtis & Co, One Great Cumberland Place, Marble Arch, London W1H 7LW has been appointed the liquidator of the company for the purpose of such winding-up. CONTACT: LEONARD CURTIS & CO One Great Cumberland Place, Marble Arch, London W1H 7LW Liquidator: S D Swaden Phone: 020 7535 7000 Fax: 020 7723 6059 E-mail: solutions@leonardcurtis.co.uk Web site: http://www.leonardcurtis.co.uk REXCOM SERVICES: Extraordinary Winding up Resolution Passed ----------------------------------------------------------- At an extraordinary general meeting of the Rexcom Services Limited on September 24, 2004 held at Leonard Curtis & Co, One Great Cumberland Place, Marble Arch, London W1H 7LW, the extraordinary resolution to wind up the company was passed. N A Bennett of Leonard Curtis & Co, One Great Cumberland Place, Marble Arch, London W1H 7LW has been appointed the liquidator of the company for the purpose of such winding-up. CONTACT: LEONARD CURTIS & CO One Great Cumberland Place, Marble Arch, London W1H 7LW Liquidator: S D Swaden Phone: 020 7535 7000 Fax: 020 7723 6059 E-mail: solutions@leonardcurtis.co.uk Web site: http://www.leonardcurtis.co.uk RMTA LIMITED: Members Pass Winding up Resolutions ------------------------------------------------- At an extraordinary general meeting of the RMTA Limited on September 22, 2004 held at the offices of Valentine & Co., 4 Dancastle Court, 14 Arcadia Avenue, London N3 2HS, the extraordinary and ordinary resolutions to wind up the company were passed. Robert Valentine 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 Phone: 020 8343 3710 Fax: 020 9343 4486 Web site: http://www.valentine-co.com RTW LIMITED: Hires Liquidator from BDO Stoy Hayward --------------------------------------------------- At an extraordinary general meeting of the RTW Limited on August 17, 2004 held at BDO Stoy Hayward LLP, 125 Colmore Row, Birmingham B3 3SD, the subjoined special resolution to wind up the company was passed. Christopher Kim Rayment of BDO Stoy Hayward LLP, 125 Colmore Row, Birmingham B3 3SD has been appointed liquidator for the purpose of such winding-up. CONTACT: BDO STOY HAYWARD LLP 125 Colmore Row, Birmingham B3 3SD Liquidator: Christopher Kim Rayment Phone: 0121 200 4600 Fax: 0121 200 4650 E-mail: birmingham@bdo.co.uk Web site: http://www.bdostoyhayward.co.uk SCOTT-GRANT: Hires Joint Administrators from Begbies Traynor ------------------------------------------------------------ Name of Companies: Scott-Grant (Management Services) Ltd. Scott-Grant (Training Services) Ltd. Scott-Grant (Technical Services) Ltd. P Stanley and R Traynor have been appointed as administrators for these companies. The appointment was made September 23, 2004. The companies are engaged in business and management consultancy and labor recruitment. Its registered office (for all companies) is located at Alberton House, 30 St Marys Parsonage, Manchester M3 2WJ. CONTACT: BEGBIES TRAYNOR Elliott House 151 Deansgate, Manchester M3 3BP Phone: 0161 839 0900 Fax: 0161 832 7436 Web site: http://www.begbies.com SKYEPHARMA PLC: Appoints New Non-executive Director --------------------------------------------------- SkyePharma PLC (LSE: SKP; Nasdaq: SKYE) announces that the Company has appointed Alan Bray as a non-executive Director. Ian Gowrie-Smith, SkyePharma's non-executive Chairman, said: "We welcome Alan's decision to accept our invitation to join the Board. His financial skills and long experience of advising companies will be a valuable asset to us, especially as chairman of the Company's Audit Committee." Alan Bray, a chartered accountant, has recently retired from Deloitte & Touche LLP, where he was latterly a senior partner in the Financial Services Practice providing a wide range of professional services to retail and investment banks, insurance companies and asset management firms. He was closely involved with leading companies such as Merrill Lynch and Abbey National. He was also responsible for the Practice's risk management policies and procedures, a topic on which he has been a regular speaker at seminars for financial institutions. After becoming a partner in 1978, he was seconded to the Department of Trade & Industry between 1986 and 1988, where he advised Ministers on financial matters relating to nationalized industries and private sector companies seeking government assistance. He has also served as a member of one of the DTI's Supervisory Boards and one of its Audit Committees. Alan has extensive experience in advising medium to large businesses and also in litigation support, including acting as expert witness in several prominent cases of professional negligence. He is married with two sons. About SkyePharma SkyePharma PLC uses its world-leading drug delivery technology to develop easier-to-use and more effective formulations of drugs. The majority of challenges faced in the formulation and delivery of drugs can be addressed by one of the Company's proprietary technologies in the areas of oral, injectable, inhaled and topical delivery, supported by advanced solubilization capabilities. CONTACT: SKYEPHARMA PLC Phone: +44 207 491 1777 Michael Ashton, Chief Executive Officer Peter Laing, Director of Corporate Communications Web site: http://www.skyepharma.com Sandra Haughton, U.S. Investor Relations Phone: +1 212 753 5780 BUCHANAN COMMUNICATIONS Phone: +44 207 466 5000 Tim Anderson/Mark Court SPECTRUM PROJECTS: Sets Creditors Meeting Next Week --------------------------------------------------- The creditors of Spectrum Projects Limited will meet on October 12, 2004 commencing at 11:00 a.m. It will be held at the New Connaught Rooms, 61-65 Great Queen Street, London WC2B 5DA. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to Rothman Pantall & Co, Clareville House, 26-27 Oxendon Street, London SW1Y 4EP not later than 12:00 noon, October 11, 2004. CONTACT: ROTHMAN PANTALL & CO. Clareville House 26/27 Oxendon Street London SW1Y 4EP Phone: +44 (0) 20 7930 7272 Fax: +44 (0) 20 7930 9849 E-mail: london@rothman-pantall.co.uk Web site: http://www.rothman-pantall.co.uk TCB SERVICES: Creditors May Appoint Liquidator this Week -------------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF TCB Services Ltd. Notice is hereby given, pursuant to section 98 of the Insolvency Act 1986, that a meeting of Creditors of TCB Services Ltd. will be held at Great Central House Great Central Avenue South Ruislip HA4 6TS on October 6, 2004 at 11:00 a.m. for the purpose of having a full statement of the position of the Company's affairs, together with a list of the Creditors of the Company and the estimated amount of their claims, laid before them, and for the purpose, if thought fit, of nominating a Liquidator and of appointing a Liquidation Committee. (Sections 99-101 of the said Act) In accordance with section 98 (2) Insolvency Act 1986, a list of Creditors' names and addresses will be available for inspection, free of charge, at Pitman Cohen, Great Central House Great Central Avenue South Ruislip HA4 6TS two business days prior to the meeting. By Order of the Board. R. K. Soder, Director September 13, 2004 CONTACT: PITMAN COHEN Great Central House Station Approach Ruislip HA4 0JA Phone: 020 8841 5252 UNIMAX TRADING: Statement of Affairs Out Wednesday -------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Unimax Trading Ltd. Notice is hereby given, pursuant to section 98 of the Insolvency Act 1986, that a meeting of Creditors of Unimax Trading Ltd. will be held at Lawford House Albert Place London N3 1QA on October 6, 2004 at 10:30 a.m. for the purpose of having a full statement of the position of the Company's affairs, together with a list of the Creditors of the Company and the estimated amount of their claims, laid before them, and for the purpose, if thought fit, of nominating a Liquidator and of appointing a Liquidation Committee. (Sections 99-101 of the said Act) A Form of Proxy, if intended to be used by creditors wishing to vote at the Meeting, must be duly completed and accompanied by their statement of claim, and must be lodged at The Old Exchange 234 Southchurch Road Southend-on-Sea SS1 2EG not later than 12:00 noon on the business day before the Meeting. Notice is also given, for the purpose of voting, that secured Creditors must (unless they surrender their security) lodge at The Old Exchange 234 Southchurch Road Southend-on-Sea SS1 2EG before the Meeting, a statement giving particulars of their security, the date when it was given, and the value at which it is assessed. Jamie Taylor of Begbies Traynor The Old Exchange 234 Southchurch Road Southend-on-Sea SS1 2EG is a person qualified to act as an Insolvency Practitioner in relation to the Company who will, during the period before the day of the Meeting furnish creditors free of charge with such information concerning the Company's affairs as they may reasonably require. By Order of the Board. M. Levy, Director September 9, 2004 CONTACT: BEGBIES TRAYNOR The Old Exchange 234 Southchurch Road Southend-on-Sea SS1 2EG Phone: 01702 467255 Fax: 01702 467201 E-mail: southend@begbies-traynor.com Web site: http://www.begbies.com ********* 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, Liv Arcipe, and Julybien Atadero, Editors. Copyright 2004. All rights reserved. ISSN 1529-2754. 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