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        T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

          Wednesday, December 15, 2004, Vol. 5, No. 248

                            Headlines

C Z E C H   R E P U B L I C

UNION BANKA: Raises CZK5.3 Million from Car Auction


F R A N C E

AIR BOURBON: In Compulsory Liquidation
MARIONNAUD PARFUMERIES: Delays Half-year Results Publication


G E R M A N Y

ARMIN KUNZ: Pirmasens Court Appoints Provisional Administrator
BRANDHORST BBT: Creditors' Claims Due Next Month
CONDOMI AG: Polish Subsidiary Takes over Business
DD DACHSANIERUNGS: Creditors' Meeting Set January
HADOS MOBELFABRIK: Administrator Takes over Operations

HEINRICH RUTER: Administrator's Report Out January
IVAG MBH: Applies for Bankruptcy Proceedings
JENNEWEIN & GERAU: Gives Creditors Until January to File Claims
KARSTADTQUELLE AG: Banks Extend EUR1.75 Billion Loan
KUNZ GMBH: Succumbs to Bankruptcy

PACH EXTRUSIONSWERKZEUGBAU: Under Bankruptcy Administration
P.W.S. BAUPLAN: Koln Court Confirms Bankruptcy
SPECTRUM-INNENAUSSTATTER: Under Bankruptcy Administration
THYSSENKRUPP AG: Sells Unit to Electra Partners


I T A L Y

ALITALIA SPA: E.C. Still Has No Decision on Rescue Plan
ALITALIA SPA: To Use Dedicated Hangar at Malpensa Airport
CIRIO FINANZIARIA: Italian Bankers Face Fine for Bond Deals
FIAT SPA: Truce Over Put Option Expires Today


N O R W A Y

DNO ASA: No Material Changes in 3rd Qtr. Figures Under IFRS


P O L A N D

AIR POLONIA: Court Returns Bankruptcy Filing


R U S S I A

ATYASHEVSKIY WORKS: Hires G. Stepanov as Insolvency Manager
KAYROS: Undergoes Bankruptcy Supervision Procedure
KISELEVSKIY WOOD: Sets Deadline for Proofs of Claim
LEVZHINSKIY: Declared Insolvent
MURASHINSKIY WOOD-PROM-KHOZ: Under Bankruptcy Supervision

TF KHANDYGA-COAL: Declared Insolvent
TOBOLSKIY TANNERY: Deadline for Proofs of Claim Set January
VISHNYEVYJ: Voronezh Court Appoints Insolvency Manager
VITAMINS: Court Hearing Resumes October Next Year
VODOKANAL: Declared Insolvent


S W I T Z E R L A N D

SWISS INTERNATIONAL: To Enter Talks Over Future Job Cuts
SWISS INTERNATIONAL: Welcomes Government's Air Transport Policy


U K R A I N E

DONETSK' BUILDING: Gives Creditors Until Friday to File Claims
FARMER'S ECONOMY: Temporary Insolvency Manager Takes over Helm
FAVORIT-MILK: Zhitomir Court Opens Bankruptcy Proceedings
HERSON' AGRICULTURAL: Bankruptcy Proceedings Begin
INTERFOOD: Insolvency Manager to Temporarily Oversee Business

KOLOS: Proofs of Claim Due This Week
PERVOMAJSK' BREWERY: Liquidator Enters Firm
PROGRES: Proofs of Claim Deadline Nears
RUDOZBUT: Under Bankruptcy Supervision
UKRGAZINVEST: Sets Filing of Claims Deadline

UKRPRODUCT: Bankruptcy Supervision Begins
VENDICHANSKIJ SUGAR: Insolvency Manager Takes over Helm
VIALENT: Undergoes Bankruptcy Supervision Procedure
YAMPIL' MECHANICAL: Names Oleksij Sisoyev Insolvency Manager
ZHITOMIR' BUILDING: Proofs of Claim Deadline Due this Week


U N I T E D   K I N G D O M

AAC SPORTS: Hires Wilson Pitts as Liquidator
A & F SPECIALIST: Owners Opt for Liquidation
BARRETT LLOYD: Brings in Liquidators from Numerica
BENSON LIMITED: Administrators Ship Three Units to Bluestone
CITY CENTRES: Hires David Rubin & Partners as Administrators

COURTS PLC: Administrators Recommend Closure of 74 Stores
CROSTON JOINERY: Calls in Liquidator from Horsfields
CROWNDRAW LIMITED: Director Gets Nine-year Ban
CROWN GREETINGS: Appoints KPMG Liquidator
DD4 LIMITED: Hires Administrator from Sargent & Company Limited

ELITE COFFEE: Creditors Opt for Liquidation
F T PATTEN: Owners Decide to Dissolve Company
GAZEBO WORLDWIDE: Calls in Liquidator from Kroll Limited
GEORGE BARNSLEY: Hires Liquidator from Freeman Rich Insolvency
GLOBAL CROSSING: Gets (P)Caa1 Senior Implied Rating from Moody's

GREAT LAKES: Members Decide to Call in Liquidator
HALLCO 69: Hires John H. C. Lee as Liquidator
HIGHLAND ELECTRONICS: Liquidator from Numerica Moves in
HORWICH CASTINGS: Creditors' Meeting Set Monday
INGRAM & GLASS: In Administrative Receivership

JARVIS PLC: Tubelines Stake Sale Could Fetch GBP100 Million
JARVIS PLC: Puts PFI Contracts for Sale
JASHAN RESTAURANT: Names RE10 Administrator
JAZZ PHOTO: Sets Creditors' Meeting Next Week
LANGPORT LIMITED: Ex-Director Receives Disqualification Order

LEGERITY UK: Hires Joint Liquidators from PwC
MAXUM LIMITED: Liquidator Calls Final Meeting of Creditors
MOYLAN CONSTRUCTION: Insolvency Service Bans Top Honcho
MYTRAVEL GROUP: Creditors Approve Scheme of Arrangement
MYTRAVEL GROUP: Bondholders Revive Battle Over Debt-Equity Swap

NAX CIVIL: Appoints PricewaterhouseCoopers Administrator
NIMMO PACKAGING: Creditors' Meeting Set Next Week
NTL INCORPORATED: Non-financial Stocks Among NASDAQ's Largest
ONE AMERICA: Calls in Liquidator from PwC
PENSUK IT: Director Banned from Holding Executive Post

POLWICK LIMITED: Liquidator's Report Due End of January
POSE LIMITED: Director Banned for 14 Years
ROYAL MAIL: Dismisses Rumored Privatization
SPM ENGINEERING: Calls in Liquidator from Chantrey Vellacott DFK
SUPERIOR RECEIVABLES: Names Tenon Recovery Liquidator

TEMLIQUOTE LIMITED: Members Pass Winding up Resolutions
TURNER & NEWALL: Pensioners Risk Getting Zilch
VOSS NET: Names Two New Board Members
WHITE CROSS: Names Horsfields Liquidator


                            *********


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


UNION BANKA: Raises CZK5.3 Million from Car Auction
---------------------------------------------------
Bankrupt Union Banka sold 28 of its 33 cars in an auction
Thursday, Czech News Agency says.  Spokesman Oldrich Babicky
said the bank raised around CZK5.304 million from the auction.
Around 29 people participated in the auction, some of whom were
former bank employees who had driven the cars.

CONTACT:  UNION BANKA a.s.
          Ul. 30 Dubna c. 35
          70200 Ostrava
          Phone: 596108111
          Fax: 596120134
          E-mail: union@union.cz
          Web site: http://www.union.cz


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


AIR BOURBON: In Compulsory Liquidation
--------------------------------------
The commercial court of Saint-Denis has ordered troubled
regional carrier Air Bourbon to enter into compulsory
liquidation, Les Echos says.

The airline, which employs 165 staff, failed to find financing
to resume operations, forcing the court to appoint a liquidator.
The court placed Air Bourbon into receivership on December 3.
The carrier declared bankruptcy after suspending all flights on
November 26, leaving hundreds of Reunion Island passengers
stranded.  Consequently, authorities suspended its flight
license.

Meanwhile, a group has been set up representing thousands of
passengers who have paid for tickets on flights between Reunion
and Paris.  Les Echos failed to identify the group.

CONTACT:  AIR BOURBON
          Aerogare Orly Sud Porte C
          BP 123
          94541 Orly
          Fax: +33 (0)1 49 75 10 45
          Web site: http://www.air-bourbon.com


MARIONNAUD PARFUMERIES: Delays Half-year Results Publication
------------------------------------------------------------
French perfume retailer Marionnaud has asked for more time to
adjust its half-year results, according to Reuters.

A source close to the company told the newswire the accounting
errors needed to be adjusted had turned out to be greater than
the original projection of EUR20 million.  The company, which
had previously asked for two postponements, promised to release
the results Friday.

The source, meanwhile, dismissed talks the firm is on the brink,
saying 2004 sales is set to surpass last year's total.  At the
request of French markets regulator, AMF, shares of the company
have not been trading since Friday.

CONTACT:  MARIONNAUD PARFUMERIES
          5 avenue de Paris 94300 Vincennes France
          Phone: +33 (0)1 48 08 69 69
          Fax: +33 (0)1 48 08 01 51
          Web site: http://www.marionnaud.com


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


ARMIN KUNZ: Pirmasens Court Appoints Provisional Administrator
--------------------------------------------------------------
The district court of Pirmasens opened bankruptcy proceedings
against Armin Kunz GmbH, Landauer Strasse 57, 66953 Pirmasens,
on Nov. 15, 2004.  Consequently, all pending proceedings against
the company have been automatically stayed.  Creditors have
until Jan. 31, 2005 to register their claims with court-
appointed provisional administrator Thomas Maier.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 28, 2005, 3:00 p.m. at the district court of
Pirmasens, Zimmer 20, Amtsgericht Pirmasens, Bahnhofstrasse 22-
26, 66953 Pirmasens, 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 March 2, 2005 at the same venue.

CONTACT:  ARMIN KUNZ GMBH
          Landauer Strasse 57, 66953 Pirmasens

          Thomas Maier, insolvency Manager
          Pirmasenser Strasse 18, 66994 Dahn
          Phone: 06391/92280
          Fax: 06391/922899


BRANDHORST BBT: Creditors' Claims Due Next Month
------------------------------------------------
The district court of Essen opened bankruptcy proceedings
against Brandhorst BBT GmbH, Selmastr. 2, 45127 Essen, on Nov.
22, 2004.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
Jan. 7, 2005 to register their claims with court-appointed
provisional administrator Rolf Otto Neukirchen.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 24, 2005, 11:00 a.m. at the district court
of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2. OG,
gelber Bereich, Saal 293, 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:  BRANDHORST BBT GMBH
          Selmastr. 2, 45127 Essen
          Contact:
          Lars Brandhorst, Manager
          Siegfried Brandhorst, Manager
          Axel Stundner, Manager

          Rolf Otto Neukirchen, Insolvency Manager
          Zweigertstr. 28-30, 45130 Essen
          Phone: (0201) 438740
          Fax: +492014387479


CONDOMI AG: Polish Subsidiary Takes over Business
-------------------------------------------------
Poland's Unimil has signed an agreement to buy its German parent
Condomi AG, whose condition has deteriorated as a result of
failed investments.

Under the deal, Unimil, the biggest condom producer in Poland,
will take on Condomi's liabilities for GBP67 million, including
that of two of its main shareholders.  It will get in return
74.4% of its own shares and almost 40% of Condomi shares.
Condomi has PLN155 million in debt.  Unimil controls 70% of the
Polish condom market and sells 100 to 120 million condoms a
year.


DD DACHSANIERUNGS: Creditors' Meeting Set January
-------------------------------------------------
The district court of Halle-Saalkreis opened bankruptcy
proceedings against DD Dachsanierungs GmbH, Malderitzstr. 12,
06132 Halle, on Nov. 16, 2004.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until Jan. 18, 2005 to register their claims with
court-appointed provisional administrator Marlies Greshuchna.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 15, 2005, 9:30 a.m. at the district court of
Halle-Saalkreis, Saal 1.043, Justizzentrum, Thuringer Str. 16,
06112 Halle, 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:  DD DACHSANIERUNGS GMBH
          Malderitzstr. 12, 06132 Halle
          Sabine Schoob, Manager

          Marlies Greschuchna, Insolvency Manager
          Grosser Berlin 14, D-06108 Halle
          Phone: 0345/6828831
          Fax: 0345/6828897


HADOS MOBELFABRIK: Administrator Takes over Operations
------------------------------------------------------
The district court of Pirmasens opened bankruptcy proceedings
against HADOS Mobelfabrik Doll GmbH & Co. Kommanditgesellschaft,
Schulstrasse 33, 76848 Wilgartswiesen (HRA 3643), on Nov. 15,
2004.  Consequently, all pending proceedings against the company
have been automatically stayed.  Creditors have until Jan. 31,
2005 to register their claims with court-appointed provisional
administrator Thomas Maier.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 28, 2005, 3:15 p.m. at the district court of
Pirmasens, Bahnhofstrasse 22-26, 66953 Pirmasens, 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 March 2, 2005 at the same
venue.

CONTACT:  HADOS MOBELFABRIK DOLL GMBH & CO.
          Schulstrasse 33, 76848 Wilgartswiesen (HRA 3643)
          Gotz Glatz, Manager

          Thomas Maier, Insolvency Manager
          Pirmasenser Strasse 18, 66994 Dahn
          Phone: 06391/92280
          Fax: 06391/922899


HEINRICH RUTER: Administrator's Report Out January
--------------------------------------------------
The district court of Dortmund opened bankruptcy proceedings
against Heinrich Ruter GmbH & Co Kommanditgesellschaft, Gustav-
Heinemann-Str. 19, 59065 Hamm, on Nov. 12, 2004.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until Jan. 14, 2005 to
register their claims with court-appointed provisional
administrator Stephen Heinrichsmeyer.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 6, 2005, 10:40 a.m. at the district court of
Dortmund, Nebenstelle, Gerichtsplatz 1, 44135 Dortmund, II.
Etage, Saal 3.201, 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 Feb.
17, 2005 at the same venue.

CONTACT:  HEINRICH RUTER GMBH & CO KOMMANDITGESELLSCHAFT
          Gustav-Heinemann-Str. 19, 59065 Hamm
          Hans Ruter, Manager

          Stephan Heinrichsmeyer, Insolvency Manager
          Spiekergasse 6-8, 33330 Gutersloh
          Phone: 05241/92 02-0
          Fax: 05241 92 02 22


IVAG MBH: Applies for Bankruptcy Proceedings
--------------------------------------------
The district court of Halle-Saalkreis opened bankruptcy
proceedings against IVAG Immobilien Vermogens-Anlage-
Gesellschaft mbH, Richard-Paulick-Strasse 22, 06124 Halle (HRB
10658), on Nov. 16, 2004.  Consequently, all pending proceedings
against the company have been automatically stayed.  Creditors
have until Jan. 10, 2005 to register their claims with court-
appointed provisional administrator Dr. Bruno M. Kubler.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 7, 2005, 10:30 a.m. at the district court of
Halle-Saalkreis, Saal 1.043, Justizzentrum, Thuringer Str. 16,
06112 Halle, 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:  IVAG IMMOBILIEN VERMOGENS-ANLAGE-GESELLSCHAFT MBH
          Richard-Paulick-Strasse 22
          06124 Halle (HRB 10658)
          Contact:
          Rainer Uhde, Manager

          Dr. Bruno M. Kubler, Insolvency Manager
          Grenzstrasse 37, D-06112 Halle
          Phone: 0345/5703290
          Fax: 0345/5703299


JENNEWEIN & GERAU: Gives Creditors Until January to File Claims
---------------------------------------------------------------
The district court of Pirmasens opened bankruptcy proceedings
against Jennewein & Gerau GmbH Bauunternehmung, Bergstrasse 22,
66969 Lemberg (HRB 3410), on Nov. 15, 2004.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until Jan. 31, 2005 to register their
claims with court-appointed provisional administrator Jorg
Berger.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 28, 2005, 3:30 p.m. at the district court of
Pirmasens, Zimmer 20 Bahnhofstrasse 22-26, 66953 Pirmasens, 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 March 2, 2005 at the
same venue.

CONTACT:  JENNEWEIN & GERAU GMBH BAUUNTERNEHMUNG
          Bergstrasse 22, 66969 Lemberg (HRB 3410)
          Hermann Karl Helmut Gerau, Manager
          Uwe Jurgen Jennewein, Manager

          Jorg Berger, Insolvency Manager
          Strobelallee 99, 66953 Pirmasens
          Phone: 06331/24670
          Fax: 06331/246713


KARSTADTQUELLE AG: Banks Extend EUR1.75 Billion Loan
----------------------------------------------------
A consortium made up of 16 banks signed Friday the agreement for
a loan of EUR1.75 billion for KarstadtQuelle AG.  The loan is
for a term of three years.

With the conclusion of this agreement, the syndicated loan is
finally secured.  "The final conclusion of this agreement is a
further step in the reorganization of our company.  We thus have
the security of being able to carry out our further
reconstruction measures with solid financing behind us," said
Dr. Christoph Achenbach, Chairman of the Management Board of
KarstadtQuelle AG in Essen.

CONTACT:  KARSTADTQUELLE A.G.
          Theodor-Althoff-Str. 2
          D-45133 Essen
          Phone: +49-201-727-1
          Fax: +49-201-727-5216
          Web site: http://www.karstadtquelle.com

          Jorg Howe
          Director Corporate Communications
          Phone: + 49 (0) 201/727-25 38
          E-mail: joerg.howe@karstadtquelle.com


KUNZ GMBH: Succumbs to Bankruptcy
---------------------------------
The district court of Pirmasens opened bankruptcy proceedings
against Kunz GmbH & Co. KG, Landauer Strasse 57, 66953
Pirmasens, on Nov. 15, 2004.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until Jan. 31, 2005 to register their claims with
court-appointed provisional administrator Thomas Maier.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 28, 2005, 3:00 p.m. at the district court of
Pirmasens, Zimmer 20 Bahnhofstrasse 22-26, 66953 Pirmasens, 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 March 2, 2005 at the
same venue.

CONTACT:  KUNZ GMBH & CO. KG
          Landauer Strasse 57, 66953 Pirmasens

          Thomas Maier, Insolvency Manager
          Pirmasenser Strasse 18, 66994 Dahn
          Phone: 06391/92280
          Fax: 06391/922899


PACH EXTRUSIONSWERKZEUGBAU: Under Bankruptcy Administration
-----------------------------------------------------------
The district court of Essen opened bankruptcy proceedings
against PACH Extrusionswerkzeugbau GmbH, Schaferstr. 1, 45884
Gelsenkirchen, on Nov. 19, 2004.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until Dec. 20, 2004 to register their claims with
court-appointed provisional administrator Dr. Winfrid Andres.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 10, 2005, 9:50 a.m. at the district court of
Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2. OG, gelber
Bereich, Saal 293, 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:  PACH EXTRUSIONSWERKZEUGBAU GMBH
          Schaferstr. 1, 45884 Gelsenkirchen
          Contact:
          Christof Pasdzior, Manager

          Dr. Winfrid Andres, Insolvency Manager
          Neuer Zollhof 3, 40221 Dusseldorf
          Phone: 0211/6907 69-69
          Fax: +4921169076970


P.W.S. BAUPLAN: Koln Court Confirms Bankruptcy
----------------------------------------------
The district court of Koln opened bankruptcy proceedings against
P.W.S. Bauplan GmbH, Aachener Str. 1158a, 50858 Koln, on Nov.19,
2004.  Consequently, all pending proceedings against the company
have been automatically stayed.  Creditors have until Jan. 17,
2005 to register their claims with court-appointed provisional
administrator Dr. Rudiger Werres.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 17, 2005, 12:10 p.m. at the district court
of Koln, Hauptstelle, Luxemburger Strasse 101, 50939 Koln,
Erdgeschoss, Saal 14, 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:  P.W.S.BAUPLAN GMBH
          Aachener Str. 1158a, 50858 Koln
          Contact:
          Jurgen Cremer, Manager

          Dr. Rudiger Werres, Insolvency Manager
          Friesenplatz 17 a, 50672 Koln
          Phone: 0221/95 14 46 - 20
          Fax: +4922195144690


SPECTRUM-INNENAUSSTATTER: Under Bankruptcy Administration
---------------------------------------------------------
The district court of Frankfurt opened bankruptcy proceedings
against Spectrum-Innenausstatter GmbH, Baumschulenweg 48, 15236
Frankfurt (Oder), on Nov. 22, 2004.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until Dec. 1, 2005 to register their claims with
court-appointed provisional administrator Dr. Hans-Helmut
Gantzel.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 16, 2005, 11:00 a.m. at the district court
of Frankfurt (Oder), Logenstrasse 13, 15230 Frankfurt (Oder),
Saal 472, 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:  SPECTRUM-INNENAUSSTATTER GMBH
          Baumschulenweg 48, 15236 Frankfurt (Oder)

          Dr. Hans-Helmut Gantzel, Insolvency Manager
          Markendorferstrasse 21, 15234 Frankfurt (Oder)


THYSSENKRUPP AG: Sells Unit to Electra Partners
-----------------------------------------------
As part of the active portfolio optimization program of
ThyssenKrupp Automotive, the ThyssenKrupp Fahrzeugguss group is
being sold to the European investor group Electra Partners
Europe Limited.

ThyssenKrupp Fahrzeugguss is a development partner and producer
of light metal cast products (aluminum, magnesium) for the
international auto industry.  The acquisition is subject to the
necessary supervisory board resolutions and the approval of the
E.U. Commission.

Electra Partners Europe is one of Europe's leading private
equity investors and has more than 25 years experience of
private equity transactions.  It has over EUR2 billion of funds
under management.

The ThyssenKrupp Fahrzeugguss group generated sales of almost
300 million euros with around 1,700 employees in fiscal 2003/04
and has production sites in Hildesheim, Radevormwald, Wuppertal
and Bendorf in Germany.  In addition, the group also includes
ThyssenKrupp Rautenbach Castings GmbH, Wernigerode, and the
Czech-based ThyssenKrupp Aluminium-Technik s.r.o., Hradek nad
Nisou.

ThyssenKrupp Automotive ranks among the world's major automotive
suppliers.  With around 130 production locations in 17
countries, over 43,000 employees produce customized components,
modules and systems for chassis, body and power train
applications on all the major markets.  The company achieved
sales of around EUR7.3 billion in fiscal 2003/2004.

Since the merger of Thyssen and Krupp in 1999, ThyssenKrupp
companies with sales of EUR5.1 billion have been divested and
businesses with sales of EUR5.6 billion have been acquired.

                            *   *   *

In November, Standard & Poor's Ratings Services revised its
outlook on ThyssenKrupp to positive from stable following
consistent reduction of the group's financial debt and its
strong operational performance.  At the same time, Standard &
Poor's affirmed its 'BB+/B' corporate credit and 'BB' senior
unsecured debt ratings on the company.

CONTACT:  THYSSENKRUPP AUTOMOTIVE AG
          Contact:
          Viktor Braun
          Executive Affairs/ Public Relations
          Phone: +49 234 9 19-6012
          Fax: +49 234 9 19-6014
          E-mail: viktor.braun@thyssenkrupp.com
          Web site: http://www.thyssenkrupp.com


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


ALITALIA SPA: E.C. Still Has No Decision on Rescue Plan
-------------------------------------------------------
The European Commission has yet to reach a decision whether to
approve or probe the rescue plan of troubled state carrier
Alitalia, La Stampa says.

E.U. transport commissioner Jacques Barrot made the statement
Sunday following a meeting with Italian transport minister
Pietro Lunardi.  Mr. Barrot has been requesting for more details
from the minister.

Troubled Company Reporter Europe said on December 9 the
commissioner might not rule on the plan before the year ends, as
Mr. Barrot needs to review more information.

The implementation of Alitalia's rescue plan hinges on the
commission's approval of the plan, as the group needs the plan
to implement changes in its structure.  Should the commissioner
launch an in-depth inquiry on the plan, Alitalia would have to
wait 18 months before it can work on the 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


ALITALIA SPA: To Use Dedicated Hangar at Malpensa Airport
---------------------------------------------------------
Struggling carrier Alitalia plans to increase its flights by 30%
from Milan's Malpensa airport, Il Sole 24 Ore says.

This came after the airline signed a ten-year agreement with SEA
Aeroporti di Milano to exclusively use a dedicated hangar at
Malpensa.  The airport operator will receive EUR1.381 million
from Alitalia as lease payment.  The Malpensa airport recorded
an increase in passenger traffic from 18 million to 28 million
following its renovation in 1998.

The agreement came in line with the carrier's 2005-2008, which
entails purchasing more aircraft and increasing number of
routes.  New flights using the Malpensa airport will cover
routes to and fro North America and eastern Asia.

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


CIRIO FINANZIARIA: Italian Bankers Face Fine for Bond Deals
-----------------------------------------------------------
Stock market regulator Consob has asked permission from the
Treasury to fine 400 Italian bank managers for fraudulently
selling Cirio Finanziaria bonds, La Stampa reports.

Many of the bonds were found to have been issued without
appropriate risk warning after the food company declared
insolvency in 2002.  The banks that sold them include Italy's
largest, Banca Intesa, UniCredit, Sanpaolo IMI, and Capitalia.
Only individuals are being cited for the misconduct.  They face
a fine of up to EUR100,000 each.

The ministry will decide whether to authorize the fines after a
grace period in which the cases will be examined and the accused
can make counter-arguments.

CONTACT:  CIRIO DEL MONTE ITALIA S.p.A.
          Legal Address:
          Via Augusto Valenziani,
          10 - 00187 Rome
          Phone: 06 421761
          Fax: 06 42176230

          Administrative Address:
          Strada Provinciale per Podenzano,
          10 - 29010 San Polo di Podenzano
          Phone: 0523 536123
          Fax: 0523 379257
          Web site: http://www.cirio.it


FIAT SPA: Truce Over Put Option Expires Today
---------------------------------------------
Fiat S.p.A. and General Motors remained at odds over a put
option involving Fiat Auto days before their truce against legal
actions expires.

In October 2003, the two groups agreed for one year not to take
each other to court over the put's validity.  The right expires
today without a clear resolution.  Fiat has said it will not
extend the moratorium, according to Reuters.

The put option was signed in 2000 when General Motors bought 20%
of Fiat Auto in exchange for 6% of General Motors shares worth
US$2.4 billion.  Under the deal, Fiat can sell its stake in Fiat
Auto to General Motors any time between Jan. 24, 2004, and July
24, 2009.  Last year, Fiat and General Motors shifted the
exercise period back by one year.

General Motors is accusing Fiat of breaching the terms of the
2000 Master Agreement by changing the parameters of Fiat Auto
when it sold 51% of its financing arm Fidis.  It refused to take
part in the EUR3 billion recapitalization of Fiat Auto, diluting
its stake to 10%.  Fiat argues the recapitalization was required
by law and says a call option to buy back Fidis means that the
parameters have not changed.  General Motors has already written
down its Fiat Auto investment to US$220 million.

Fiat has two chances to exercise the put.  General Motors may
pay for Fiat Auto in shares, or cash, or both.

The Master Agreement is governed by New York State laws, giving
the U.S. District Court in Manhattan jurisdiction in any case.


===========
N O R W A Y
===========


DNO ASA: No Material Changes in 3rd Qtr. Figures Under IFRS
-----------------------------------------------------------
As previously announced, DNO A.S.A. has analyzed the
consequences that a transition from N GAAP to IFRS will have on
the company's financial statements.  The project work has
included a transition of the opening balance at 1 January 2004
from N GAAP to IFRS (the IFRS opening balance sheet) and
transition of interim results for 2004.

The analysis of accounting consequences from transition to IFRS
is described in the attached DNO IFRS Transition Report.  The
IFRS Transition Report can also be downloaded from DNO's Web
site (http://www.dno.no).

The analysis must be regarded as preliminary as the IFRS
accounting figures have not been audited, there is still
uncertainty as to how the IFRS standards should be interpreted
and implemented and IFRS' reporting standards for oil and gas
companies have not yet been completed (ED6).

The analysis shows that the group's equity at January 1 2004
according to IFRS is higher than previously reported under N
GAAP (increases by NOK162 million from NOK923 million to NOK
1,085 million).  This increase is mainly contributed by the
change in accounting treatment of decommissioning liabilities
for the Heather field (sold to Lundin Petroleum AB in 2004)

Net accumulated third quarter results for 2004 for the continued
operations more or less equal those previously reported under N
GAAP (the loss is NOK5 million lower).  Net gain from sale of
operations (Lundin transaction) is under IFRS reduced from
NOK310 million to NOK122 million contributed by the change in
accounting treatment of decommissioning liabilities for the
Heather field.  Net accumulated loss as of September 30 2004 on
discontinued operations is reduced by NOK28 million to -NOK35
million under IFRS due to retrospective application of IFRS 5
(Non-Current Assets Held for Sale and Discontinued Operations).
The group's net profit for the interim period is reduced from
NOK187 million to NOK32 million.

The group's equity at September 30 2004 according to IFRS is
estimated at NOK846 million.  The corresponding N GAAP equity
was NOK839 million.

None of the above adjustments impacts the group's liquidity.

After the distribution of the Offshore and Services business
area as dividend (cf. general meeting held on December 1), DNO's
IFRS financial statements will be affected by the development in
accounting standards for oil and gas companies (ED6), including
whether or not U.S. accounting principles (U.S. GAAP) for oil
and gas activities will be normative also for IASB's work.

Until a new IFRS standard is introduced for oil and gas
companies, DNO will to the extent possible continue its current
accounting practice according to N GAAP.  Tax paid in kind to
the authorities in Yemen (Production Sharing Agreements) will
continue to be classified as tax expense and not as revenue
reduction.

DNO plans to provide information about group financial
statements according to IFRS for the year 2004 in connection
with the reporting of its fourth quarter results for 2004 in
February 2005.

DNO A.S.A.

December 13 2004

CONTACT:  DNO A.S.A.
          Helge Eide
          Managing Director

          Haakon Sandborg
          Chief Financial Officer
          Phone: (+47) 55 22 47 00
              Or (+47) 23 23 84 80

          Web site: http://www.dno.no


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


AIR POLONIA: Court Returns Bankruptcy Filing
--------------------------------------------
A Polish court has rejected the bankruptcy motion of Air
Polonia, delaying a projected timetable for the process, Warsaw
Business Journal reports.

"The submitted documents were not complete so we sent them back.
Thus it can be said there are no legal proceeding against Air
Polonia going on right now," said a court employee.  It means
Air Polonia's bankruptcy will not take place in two months time
as was expected.

Creditors of the firm secured three of its planes earlier this
month when it failed to meet payments.  It is now in search for
financing.

Air Polonia, which began services in April, operates 30 flights
a week from Stansted to six Polish cities, including Warsaw,
Gdansk and Katowice.  It also operates flights to France,
Germany, Spain, Sweden, Italy and Belgium, with 53,000 people
booked on flights up to the end of March.

CONTACT:  AIR POLONIA
          Web site: http://www.airpolonia.com


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


ATYASHEVSKIY WORKS: Hires G. Stepanov as Insolvency Manager
-----------------------------------------------------------
The Arbitration Court of Mordoviya republic has commenced
bankruptcy proceedings against Atyashevskiy Works Automobile
Parts after finding the open joint stock company insolvent.  The
case is docketed as A39-3879/04-170/6.  Mr. G. Stepanov has been
appointed insolvency manager.

Creditors have until Jan. 12, 2005 to submit their proofs of
claim to:

(a) Atyashevskiy Works Automobile Parts
    Russia, Mordoviya republic, Atyashevo,
    Mekhanizatorov Str. 20
    Phone: 8-8342-75-24-87

(b) Mr. G. Stepanov
    Insolvency Manager
    Russia, Mordoviya republic, Atyashevo,
    Mekhanizatorov Str. 20
    Phone: 8-8342-75-24-87


KAYROS: Undergoes Bankruptcy Supervision Procedure
--------------------------------------------------
The Arbitration Court of Kemerovo region has commenced
bankruptcy supervision procedure on open joint stock company
Kayros.  The case is docketed as A-27-19189/2004-4.  Mr. V.
Dostovalov has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 650000, Russia,
Kemerovo, Kalinina Str. 5-50.  A hearing will take place on Feb.
28, 2005, 10:30 a.m.

CONTACT:  KAYROS
          Russia, Kemerovo

          Mr. V. Dostovalov
          Temporary Insolvency Manager
          650000, Russia, Kemerovo,
          Kalinina Str. 5-50


KISELEVSKIY WOOD: Sets Deadline for Proofs of Claim
---------------------------------------------------
The Arbitration Court of Mordoviya republic has commenced
bankruptcy proceedings against Kiselevskiy Wood Working Combine
after finding the company insolvent.  The case is docketed as
A39-3053/04-148/12.  Ms. E. Murashkina has been appointed
insolvency manager.  Creditors have until Jan. 12, 2005 to
submit their proofs of claim.

CONTACT:  KISELEVSKIY WOOD WORKING COMBINE
          Russia, Mordoviya republic,
          3 Polyanskiy region, Kiselevka

          Ms. E. Murashkina
          Insolvency Manager
          Russia, Mordoviya republic,
          Saransk, Krupskoy Str. 29


LEVZHINSKIY: Declared Insolvent
-------------------------------
The Arbitration Court of Mordoviya republic has commenced
bankruptcy proceedings against Levzhinskiy after finding the
breeding factory insolvent.  The case is docketed as A39-
5027/04-222/6.  Mr. A. Lopatin has been appointed insolvency
manager.  Creditors may submit their proofs of claim to Russia,
Mordoviya republic, Saransk, N. Krupskoy Str. 29.

CONTACT:  LEVZHINSKIY
          Russia, Mordoviya republic,
          Ruzaevskiy region, Levzhinskiy

          Mr. A. Lopatin
          Insolvency Manager
          Russia, Mordoviya republic,
          Saransk, N. Krupskoy Str. 29


MURASHINSKIY WOOD-PROM-KHOZ: Under Bankruptcy Supervision
---------------------------------------------------------
The Arbitration Court of Kirov region has commenced bankruptcy
supervision procedure on open joint stock company Murashinskiy
Wood-Prom-Khoz.  The case is docketed as A28-206/04-425/6.  Mr.
S. Torbeev has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 610046, Russia,
Kirov-46, Post User Box 1341.  A hearing will take place at the
Arbitration Court of Kirov region on March 28, 2005, 9:00 a.m.

CONTACT:  MURASHINSKIY WOOD-PROM-KHOZ
          613730, Russia, Kirov region, Murashinskiy region,
          Oktyabrskiy, Sovetskaya Str. 26

          Mr. S. Torbeev
          Temporary Insolvency Manager
          610046, Russia, Kirov-46,
          Post User Box 1341


TF KHANDYGA-COAL: Declared Insolvent
------------------------------------
The Arbitration Court of Sakha republic (Yakutiya) has commenced
bankruptcy proceedings against TF Khandyga-Coal after finding
the open joint stock company insolvent.  The case is docketed as
A58-7609/2002.  Mr. E. Tashkinov has been appointed insolvency
manager.

Creditors may submit their proofs of claim to:

(a) TF Khandyga-Coal
    678020, Russia, Sakha republic (Yakutiya),
    Khandyga, Egora Kychkina Str. 14

(b) The Arbitration Court Of Sakha Republic (Yakutiya)
    677000, Russia, Yakutsk, Kurashova Str. 28


TOBOLSKIY TANNERY: Deadline for Proofs of Claim Set January
-----------------------------------------------------------
The Arbitration Court of Tyumen region has commenced bankruptcy
proceedings against Tobolskiy Tannery after finding the limited
liability insolvent.  The case is docketed as A70-5404/3-04.
Mr. F. Nasyrov has been appointed insolvency manager.  Creditors
have until Jan. 12, 2005 to submit their proofs of claim to
625000, Russia, Tyumen, Rozy Lyuksemburg Str. 12b.

CONTACT:  TOBOLSKIY TANNERY
          Russia, Tyumen Region, Tobolsk

          Mr. F. Nasyrov
          Insolvency Manager
          625000, Russia, Tyumen,
          Rozy Lyuksemburg Str. 12b
          Phone/Fax: (8 81536) 3-48-88


VISHNYEVYJ: Voronezh Court Appoints Insolvency Manager
------------------------------------------------------
The Arbitration Court of Voronezh region has commenced
bankruptcy supervision procedure on unitary federal military
agricultural enterprise Vishnyevyj (TIN 5260101338).  The case
is docketed as A14-12512-2004/74/20b.  Mr. V. Chvikalov has been
appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 396790, Russia,
Voronezh region, Bogucharskiy region, Vishnyevyj.  A hearing
will take place Russia, Voronezh, Srednemoskovskaya Str. 77,
Room 501 on Feb. 10, 2005, 1000 a.m.

CONTACT:  VISHNYEVYJ
          396790, Russia, Voronezh region,
          Bogucharskiy region, Vishnyevyj

          Mr. V. Chvikalov
          Temporary Insolvency Manager
          396790, Russia, Voronezh region,
          Bogucharskiy region, Vishnyevyj


VITAMINS: Court Hearing Resumes October Next Year
-------------------------------------------------
The Arbitration Court of Krasnodar region has commenced
bankruptcy proceedings against Vitamins after finding the open
joint stock company insolvent.  The case is docketed as A-32-
25425/2004-38/185-B.  Ms. S. Shabunina has been appointed
insolvency manager.

Creditors have until Jan. 12, 2005 to submit their proofs of
claim to 350020, Russia, Krasnodar, Krasnaya Str. 133, office
29.  A hearing will take place on Oct. 18, 2005.

CONTACT:  VITAMINS
          Russia, Krasnodar, Vitaminkombinat

          Ms. S. Shabunina
          Insolvency Manager
          350020, Russia, Krasnodar,
          Krasnaya Str. 133, Office 29


VODOKANAL: Declared Insolvent
-----------------------------
The Arbitration Court of Kurgan region has commenced bankruptcy
proceedings against Vodokanal after finding the state-owned
enterprise insolvent.  The case is docketed as A34-866/04-S1.
Mr. A. Skvortsov has been appointed insolvency manager.

Creditors have until Jan. 12, 2005 to submit their proofs of
claim to:

(a) Vodokanal
    641700, Russia, Kurgan region,
    Kataysk, Sovetskaya Str. 47

(b) Insolvency Manager
    640020, Russia, Kurgan,
    Post User Box 3251

(c) The Arbitration Court of Kurgan region
    640018, Russia, Kurgan,
    Sovetskaya Str. 192


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


SWISS INTERNATIONAL: To Enter Talks Over Future Job Cuts
--------------------------------------------------------
Swiss International is serving due notice to terminate its
present Collective Labor Agreements with its cabin crew corps at
the end of 2005.  The company will enter into negotiations on
new Collective Labor Agreements with its social partners at the
beginning of 2005.

The social partners were informed tonight of Swiss' notice,
which is required under the terms of the present Collective
Labor Agreements.  Swiss will now strive, together with its
social partners, to find viable forward-looking solutions, which
secure as many jobs as possible in the longer term.

CONTACT:  SWISS INTERNATIONAL
          P.O. Box, CH-4002 Basel
          Corporate Communications
          Phone: +41 (0) 848 773 773
          Fax: +41 61 582 3554
          E-mail: communications@swiss.com
          Web site: http://www.swiss.com


SWISS INTERNATIONAL: Welcomes Government's Air Transport Policy
---------------------------------------------------------------
Swiss International is pleased that Switzerland's Federal
Council has issued the report on air transport policy before the
end of the current year.  In essence, the Federal Council's
statements are welcome, particularly the amendments that have
been made to the original draft.

Swiss largely supports the objectives the Federal Council has
set for the national air transport policy.  "Federal Councilor
Moritz Leuenberger deserves recognition for producing this
report, which points the way forward.  Consultation with the
parties involved prior to the report was fair and thorough,"
commented Christoph Franz, Swiss President and CEO.  "It is now
of great importance to implement concrete measures as quickly as
possible."

Swiss welcomes in particular these main points from the report
on national air transport policy:

(a) Express recognition of the economic importance of
    Switzerland's air transport industry, also as a key element
    in foreign trade policy and tourism promotion, as well as a
    factor in making Switzerland an attractive business
    location;

(b) Acknowledgement of the value non-stop air services within
    Europe and to and from other continents provide for
    Switzerland as a business location; and of Zurich's role as
    an air transport hub in efficiently optimizing Switzerland's
    international links;

(c) Acknowledgement of the need for internationally competitive
    parameters for Switzerland's air transport industry;

(d) Government commitment to Swiss as an important factor in air
    transport policy and the facilitator of effective
    international links;

(e) Government willingness to absorb, if necessary, certain
    costs relating to security and air traffic control;

(f) The intention to review the degree to which the current tax
    on aviation fuel for domestic air services can be used to
    support measures to protect the environment and improve air
    transport security and safety;

(g) The objective of Switzerland participating in the European
    Aviation Safety Agency and in the reform process for the
    creation of a Single European Sky with regard to air traffic
    control.

Swiss is disappointed, however, that the Federal Council has
rejected a proposal to transform the existing airport noise
compensation fund into an independent legal entity and sponsor
the fund in order to cover any short-term financial deficits.
Given the current legal uncertainties surrounding this topic
along with the expectation of high costs for compensation in
future, managing the fund in this way would be an important
element in ensuring the future of the country's airports and
providing prompt compensation to those affected by airport
noise.

Swiss has not yet studied the comprehensive report thoroughly
and therefore is not in a position to comment conclusively on
all points.

CONTACT:  SWISS INTERNATIONAL
          P.O. Box, CH-4002 Basel
          Corporate Communications
          Phone: +41 (0) 848 773 773
          Fax: +41 61 582 35 54
          E-mail: communications@swiss.com
          Web site: http://www.swiss.com


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


DONETSK' BUILDING: Gives Creditors Until Friday to File Claims
--------------------------------------------------------------
The Economic Court of Lugansk region commenced bankruptcy
supervision procedure on Donetsk' Building Management (code
EDRPOU 01241042) on September 15, 2004.  Arbitral manager Mr.
Oleksandr Mamrukov (License Number AA 783183) has been appointed
temporary insolvency manager.  The company holds account number
2600630140988 at Prominvestbank, Lisichansk branch, MFO 304416.

Creditors have until December 17, 2004 to submit their proofs of
claim to:

(a) DONETSK' BUILDING MAMAGEMENT
    93105, Ukraine, Lugansk region,
    Lisichansk, Zhovtneva Str. 38a

(b) Mr. Oleksandr Mamrukov
    Temporary Insolvency Manager
    91000, Ukraine, Lugansk region,
    Cheluskintsiv Str. 143a/76

(c) ECONOMIC COURT OF LUGANSK REGION
    91000, Ukraine, Lugansk region,
    Geroiv VVV Square, 3a


FARMER'S ECONOMY: Temporary Insolvency Manager Takes over Helm
--------------------------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Farmer's Economy Prok (code EDRPOU 20265315)
on September 21, 2004 after finding the company insolvent.  The
case is docketed as B26/32/04.  Mrs. Nataliya Chesnova (License
Number AA 047981) has been appointed liquidator/insolvency
manager.

Creditors have until December 17, 2004 to submit their proofs of
claim to:

(a) FARMER'S ECONOMY PROK
    51000, Ukraine, Dnipropetrovsk region,
    Tsarichanskij district,
    Mogiliv, Dnipropetrovska Str. 48-a

(b) Mrs. Nataliya Chesnova
    Liquidator/Insolvency Manager
    49101, Ukraine, Dnipropetrovsk region,
    Kirov Str. 28-a, office 201
    Phone: (0562) 36-10-75

(c) ECONOMIC COURT OF DNIPROPETROVSK REGION
    49600, Ukraine, Dnipropetrovsk region,
    Kujbishev Str. 1a


FAVORIT-MILK: Zhitomir Court Opens Bankruptcy Proceedings
---------------------------------------------------------
The Economic Court of Zhitomir region commenced bankruptcy
proceedings against Favorit-Milk (code EDRPOU 25303859) on
January 22, 2004 after finding the limited liability company
insolvent.  The case is docketed as 4/100 B.  Arbitral manager
Mr. Mikola Kinalevskij (License Number AA 250095) has been
appointed liquidator/insolvency manager.

CONTACT:  FAVORIT-MILK
          12300, Ukraine, Zhitomir region,
          Chernyahiv, Korostenska Str. 103

          Mr. Mikola Kinalevskij
          Liquidator/Insolvency Manager
          Phone: (0412) 22-36-56


HERSON' AGRICULTURAL: Bankruptcy Proceedings Begin
--------------------------------------------------
The Economic Court of Herson region commenced bankruptcy
proceedings against Herson' Agricultural Machine-Technological
Station (code EDRPOU 30329129) on October 14, 2004 after finding
the open joint stock company insolvent.  The case is docketed as
6/36-B.  Arbitral manager Mr. I. Bilousov (License Number AA
669625) has been appointed liquidator/insolvency manager.

CONTACT:  HERSON' AGRICULTURAL MACHINE-TECHNOLOGICAL STATION
          Ukraine, Herson region,
          Herson district, Zhovtneve

          Mr. I. Bilousov
          Liquidator/Insolvency Manager
          73000, Ukraine, Herson region,
          Kulik Str. 114-G/26
          Phone: 8 (0552) 55-49-20
                 8 (0505) 42-43-21

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


INTERFOOD: Insolvency Manager to Temporarily Oversee Business
-------------------------------------------------------------
The Economic Court of Kyiv region has commenced bankruptcy
supervision procedure on LLC Interfood (code EDRPOU 31839142).
The case is docketed as 24/877-b.  Arbitral manager Mr. V.
Pisarenko (License Number AA 485239) has been appointed
temporary insolvency manager.  The company holds account number
26005100530101 at CJSC TAS-Investbank, Kyiv region branch, MFO
320650.

Creditors have until December 16, 2004 to submit their proofs of
claim to:

(a) INTERFOOD
    01011, Ukraine, Kyiv region,
    Pecherska Square, 1

(b) Mr. V. Pisarenko
    Temporary Insolvency Manager
    Ukraine, Kyiv region,
    Peremogi Avenue, 9/62

(c) ECONOMIC COURT OF KYIV REGION
    01030, Ukraine, Kyiv region,
    B. Hmelnitskij Boulevard, 44-B


KOLOS: Proofs of Claim Due This Week
------------------------------------
The Economic Court of Poltava region has commenced bankruptcy
supervision procedure on Agricultural LLC Kolos (code EDRPOU
03770483).  The case is docketed as 10/236.  Mr. Mikola
Kupriyenko (License Number AA 047993) has been appointed
temporary insolvency manager.  The company holds account number
26040100001623 at JSPPB Aval, MFO 331489.

Creditors have until December 16, 2004 to submit their proofs of
claim to:

(a) KOLOS
    Ukraine, Poltava region,
    Chornuhinskij district, Bilousivka

(b) Mr. Mikola Kupriyenko
    Temporary Insolvency Manager
    36003, Ukraine, Poltava region,
    Nezalezhnosti Square, 1-b

(c) ECONOMIC COURT OF POLTAVA REGION
    36000, Ukraine, Poltava region,
    Zigina Str. 1


PERVOMAJSK' BREWERY: Liquidator Enters Firm
-------------------------------------------
The Economic Court of Mikolaiv region commenced bankruptcy
proceedings against Pervomajsk' Brewery (code EDRPOU 00383998)
on October 19, 2004 after finding the close joint stock company
insolvent.  The case is docketed as 14/114.  Mr. V. Balyev
(License Number 487832) has been appointed liquidator/insolvency
manager.

CONTACT:  PERVOMAJSK' BREWERY
          55200, Ukraine, Mikolaiv region,
          Pervomajsk, Gagarin Str.

          Mr. V. Balyev
          Liquidator/Insolvency Manager
          26600, Ukraine, Kirovograd region,
          Vilshanka, Kirov Str. 65
          Phone: 8 (05250) 9-61-68
                 8 (050) 905-79-68

          ECONOMIC COURT OF MIKOLAIV REGION
          54009, Ukraine, Mikolaiv region,
          Admiralska Str. 22


PROGRES: Proofs of Claim Deadline Nears
---------------------------------------
The Economic Court of Hmelnitskij region commenced bankruptcy
supervision procedure on limited liability company Progres (code
EDRPOU 03787549) on September 13, 2004.  The case is docketed as
13/236-B.  Arbitral manager Mr. Oleksandr Papaduk (License
Number AA 250190) has been appointed temporary insolvency
manager.  The company holds account number 26069052402168 at CB
Privatbank, Shepetivske branch, MFO 315405.

Creditors have until December 16, 2004 to submit their proofs of
claim to:

(a) PROGRES
    30426, Ukraine, Hmelnitskij region,
    Shepetivskij district, Seredintsi

(b) Mr. Oleksandr Papaduk
    Temporary Insolvency Manager
    Ukraine, Hmelnitskij region,
    Starokostyantinivs, Miru Str. 3/20-14

(c) ECONOMIC COURT OF HMELNITSKIJ REGION
    29000, Ukraine, Hmelnitskij region,
    Nezalezhnosti Square, 1


RUDOZBUT: Under Bankruptcy Supervision
--------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
supervision procedure on Krivij Rig' State Enterprise Rudozbut
(code EDRPOU 00193003) on October 15, 2004.  The case is
docketed as B 15/116/04.  Mrs. Viktoriya Aksuk (License Number
AA 487816) has been appointed temporary insolvency manager.  The
company holds account number 26000301140321 at Prominvestbank,
Krivij Rig central city branch, MFO 305493.

CONTACT:  RUDOZBUT
          50036, Ukraine, Dnipropetrovsk region,
          Krivij Rig, Lyotchikiv Str. 9

          Mrs. Viktoriya Aksuk
          Temporary Insolvency Manager
          Ukraine, Dnipropetrovsk region,
          Krivij Rig, Spivdruzhnosti Str. 84/63

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


UKRGAZINVEST: Sets Filing of Claims Deadline
--------------------------------------------
The Economic Court of Poltava region has commenced bankruptcy
supervision procedure on Ukrgazinvest (code EDRPOU 31277983).
The case is docketed as 8/287.  Arbitral manager Mr. Borovik
Ruslan (License Number AA 783249) has been appointed temporary
insolvency manager.  The company holds account number
26000330100168 at JSCB East-European Bank, Kremenchuk branch,
MFO 331650.

Creditors have until December 16, 2004 to submit their proofs of
claim to:

(a) UKRGAZINVEST
    Ukraine, Poltava region,
    Komsomolsk, Lenin Str. 88/102

(b) Mr. Borovik Ruslan
    Temporary Insolvency Manager
    Ukraine, Poltava region,
    Rizi Luksenburg Str. 36/2

(c) ECONOMIC COURT OF POLTAVA REGION
    36000, Ukraine, Poltava region,
    Zigina Str. 1


UKRPRODUCT: Bankruptcy Supervision Begins
-----------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
supervision procedure on LLC Ukrproduct (code EDRPOU 31038207)
on October 26, 2004.  Arbitral manager Mr. I. Mironov (License
Number AA 719804) has been appointed temporary insolvency
manager.  The company holds account number 26000100698002 at
JSCB Kapital, Donetsk branch, MFO 334828.

Creditors have until December 16, 2004 to submit their proofs of
claim to:

(a) UKRPRODUCT
    83003, Ukraine, Donetsk region,
    Antipov Str. 7-A

(b) Mr. I. Mironov
    Temporary Insolvency Manager
    83003, Ukraine, Donetsk region,
    Illicha Str. 89/809

(c) ECONOMIC COURT OF DONETSK REGION
    83048, Ukraine, Donetsk region,
    Artema Str. 157


VENDICHANSKIJ SUGAR: Insolvency Manager Takes over Helm
-------------------------------------------------------
The Economic Court of Vinnitsya region commenced bankruptcy
proceedings against Vendichanskij Sugar Plant (code EDRPOU
32494998) on October 28, 2004 after finding the limited
liability company insolvent.  The case is docketed as 5/510-04.
Mr. S. Malahov (License Number AA 250370) has been appointed
liquidator/insolvency manager.

CONTACT:  VENDICHANSKIJ SUGAR PLANT
          Ukraine, Vinnitsya region,
          Mogiliv-Podilskij district, Vendichani


VIALENT: Undergoes Bankruptcy Supervision Procedure
---------------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
supervision procedure on LLC Vialent (code EDRPOU 32007819) on
October 6, 2004.  The case is docketed as B15/125/04.  Arbitral
manager Mr. Igor Yasnogor (License Number AA 630052) has been
appointed temporary insolvency manager.  The company holds
account number 26006220510100 at JSPPB Aval, MFO 305653.

Creditors have until December 16, 2004 to submit their proofs of
claim to:

(a) VIALENT
    49005, Ukraine, Dnipropetrovsk region,
    Furmanov Str. 14

(b) Mr. Igor Yasnogor
    Temporary Insolvency Manager
    49040, Ukraine, Dnipropetrovsk region, a/b 2350
    Phone: 8 (0562) 31-82-12
    Fax: 8 (0562) 31-82-12

(c) ECONOMIC COURT OF DNIPROPETROVSK REGION
    49600, Ukraine, Dnipropetrovsk region,
    Kujbishev Str. 1a


YAMPIL' MECHANICAL: Names Oleksij Sisoyev Insolvency Manager
------------------------------------------------------------
The Economic Court of Sumi region has commenced bankruptcy
supervision procedure on OJSC Yampil' Mechanical Plant (code
EDRPOU 14010479).  The case is docketed as 7/60.  Mr. Oleksij
Sisoyev (License Number AA 315441) has been appointed temporary
insolvency manager.  The company holds account number 26001180
at JSPPB Aval, Gluhiv branch, MFO 337524.

CONTACT:  YAMPIL' MECHANICAL PLANT
          41200, Ukraine, Sumi region,
          Yampil, 50 Rokiv SRSR Str. 2

          Mr. Oleksij Sisoyev
          Temporary Insolvency Manager
          Ukraine, Sumi region,
          Petropavlovska Str. 74/49a

          ECONOMIC COURT OF SUMI REGION
          40030, Ukraine, Sumi region,
          Ribalko Str. 2


ZHITOMIR' BUILDING: Proofs of Claim Deadline Due this Week
----------------------------------------------------------
The Economic Court of Zhitomir region commenced bankruptcy
supervision procedure on JSCCT (code EDRPOU 00845559).
The case is docketed as 1/85 B.  Mr. Shishkin Leonid (License
Number AA 047746) has been appointed temporary insolvency
manager.  The company holds account numbers 26048309171603,
26049308171603 at CB Prominvestbank, Zhitomir central branch;
account number 26029328101 at JSB Energobank; and account number
26001167858001 at CB Privatbank.

Creditors have until December 16, 2004 to submit their proofs of
claim to:

(a) ZHITOMIR' BUILDING MATERIALS COMBINE
    10000, Ukraine, Zhitomir region,
    Vitruk Str. 6

(b) Mr. Shishkin Leonid
    Temporary Insolvency Manager
    Ukraine, Zhitomir region,
    Chernyahiskij Str. 20-a/19

(c) ECONOMIC COURT OF ZHITOMIR REGION
    10002, Ukraine, Zhitomir region,
    Putyatinski Square, 3/65


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


AAC SPORTS: Hires Wilson Pitts as Liquidator
--------------------------------------------
At the extraordinary general meeting of the members of AAC
Sports Limited (t/a Abbey Court Leisure) on Dec. 2, 2004 held at
Wilson Pitts, Glendevon House, Hawthorn Park, Coal Road, Leeds
LS14 1PQ, the extraordinary and ordinary resolutions to wind up
the company were passed.  D. F. Wilson and J. N. R. Pitts have
been appointed joint liquidators of the company.

CONTACT:  WILSON PITTS
          Glendevon House, Hawthorn Park,
          Coal Road, Leeds LS14 1PQ
          Phone: 0113-2375560
          Fax:   0113-2375561
          Web site: http://www.wilson-pitts.co.uk


A & F SPECIALIST: Owners Opt for Liquidation
--------------------------------------------
At the extraordinary general meeting of the members of A & F
Specialist Vehicle Manufacturers Limited on Dec. 3, 2004 held at
O'Hara & Co, Wesley House, Huddersfield Road, Birstall, Batley
WF17 9EJ, the extraordinary resolutions to wind up the company
were passed.  Peter O'Hara of O'Hara & Co, Wesley House,
Huddersfield Road, Birstall, Batley WF17 9EJ has been appointed
liquidator of the company.

CONTACT:  O'HARA & CO.
          Wesley House, Huddersfield Road,
          Birstall, Batley WF17 9EJ


BARRETT LLOYD: Brings in Liquidators from Numerica
--------------------------------------------------
At the extraordinary general meeting of Barrett Lloyd Davis
Limited on Nov. 15, 2004 held at Unit 307, 535 Kings Road,
London SW10, the special and ordinary resolutions to wind up the
company were passed.  Nicholas Hugh O'Reilly and Jonathan Mark
Birch of Numerica, P.O. Box 2653, 66 Wigmore Street, London W1A
3RT have been appointed joint liquidators of the company.

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


BENSON LIMITED: Administrators Ship Three Units to Bluestone
------------------------------------------------------------
Michael Gercke and Robert Birchall of PricewaterhouseCoopers
were appointed Monday as Joint Administrators of Benson Limited,
the principal operating company within Benson Group Limited.

Following their appointment, the Administrators are pleased to
announce that they have immediately completed the sale of the
South East (based in Reigate), South West (based in Southampton)
and Northern Home Counties (based in Hatfield) construction
divisions of Benson Limited to Bluestone plc.  As a result of
the sale 175 jobs have been saved.  The joint administrators are
reviewing the remaining two divisions of Benson Limited: the
Thames Valley construction division in Maidenhead and the
interiors division in London.

Benson Limited is a construction company providing general
contracting, interior fitting out, refurbishment and property
maintenance through a series of specialist teams.  It is active
in the commercial, education, healthcare, housing, industrial,
leisure and public sectors.

Michael Gercke, joint administrator and partner at
PricewaterhouseCoopers commented: "I am delighted that we have
been able to secure a sale of the great majority of Benson
Limited's business, preserving 175 jobs and providing continuity
of service to so many of Benson's customers."

CONTACT:  PRICEWATERHOUSECOOPERS
          Jenny Britton
          Business Recovery Services Communications Executive
          Phone: 020 7212 2970
          Mobile: 07855 522485

          Michael Gercke, Partner
          Phone: 020 7804 4504


CITY CENTRES: Hires David Rubin & Partners as Administrators
------------------------------------------------------------
Asher Miller and Henry Lan (IP Nos 9251, 8188) have been
appointed joint administrators of City Centres Breweries
Limited.  The appointment was made Nov. 19, 2004.  The company's
business is brewing.

CONTACT:  DAVID RUBIN & PARTNERS
          Pearl Assurance House,
          319 Ballards Lane, London N12 8LY
          Phone: 020 8343 5900
          Fax: 020 8446 2994
          Web site: http://www.drpartners.com


COURTS PLC: Administrators Recommend Closure of 74 Stores
---------------------------------------------------------
Mick McLoughlin and Chris Laverty of KPMG Corporate Recovery,
joint administrators of Courts Plc and Courts U.K. Limited,
confirmed they have entered into an agency agreement with SB
Capital, the retail turnaround specialists, to trade all of
Courts 88 stores for an undisclosed sum.  Of the total stores,
14, representing 20% of the retail turnover, are intended to be
sold to SB Capital, an investor in Furnitureland and Land of
Leather.  The remaining stores will be closed by a phased wind-
down program over the period to 20 February 2005.

Mick McLoughlin, joint administrator and Head of KPMG Corporate
Recovery said: "We have reached an agreement with SB Capital,
who will handle the disposal of the Courts stock, both in the
stores, warehouses and in transit.  In the circumstances this is
the best result we could have achieved for the customers.  The
furniture that are still in stores or warehouse, but had been
paid in full by some 4,000 customers will be delivered.  All of
the remaining customers who have made payments in full will
receive their original order where possible.  If this is not
possible, they will have the opportunity to choose an
alternative item of the same value.

"For those customers who have paid by deposit they will be
offered an alternative item less 10% discount, whilst others
will have a claim against their credit card companies.

"The stores will be opening on Thursday 16 December and further
details on how customers should proceed will be notified to
local press and radio."

Mick McLoughlin added: "Unfortunately we did not receive any
deliverable offers for the business as a going concern.
However, the offer with SB Capital hopefully secures employment
for staff in the 14 stores and will assist to ensure customer
orders are fulfilled.  We have received considerable support
from employees during the administration, in extremely difficult
circumstances, and thank them for their efforts."

The appointment of administrators over Courts Plc and Courts
(U.K.) Limited does not affect Courts Overseas Limited, Courts
Group International Limited, Courts World Wide Purchases Limited
or any of Courts Overseas operations.  The Courts overseas
operations have separate boards, management, suppliers and
funding, and are continuing to trade as normal.

CONTACT:  KPMG
          Rachael Morgan, Corporate Communications
          Contact: 0207 694 2692/0207 694 8773
          E-mail: rachael.morgan@kpmg.co.uk

          SB CAPITAL
          Dianne Page, McCann-Erickson
          Phone: 0776 722 3762
          E-mail: dianne.page@europe.mccann.com


CROSTON JOINERY: Calls in Liquidator from Horsfields
----------------------------------------------------
At the extraordinary general meeting of the members of the
Croston Joinery Limited on Nov. 24, 2004 held at Gleadhill
House, Dawbers Lane, Euxton, Chorley, Lancashire PR7 6EA, the
special resolution to wind up the company was passed.  John H.
C. Lee of Horsfields, 8 Manchester Road, Bury, Lancashire BL9
0ED has been appointed liquidator of the company.

CONTACT:  HORSFIELDS
          8 Manchester Road,
          Bury, Lancashire BL9 0ED
          Phone: 0161 763 3183
          Fax: 0161 763 1283


CROWNDRAW LIMITED: Director Gets Nine-year Ban
----------------------------------------------
The director of a telecommunications business that failed with
debts of more than GBP489,000 has been disqualified in the
Southampton County Court for nine years from acting as a company
director.

Mr. Adrian John Anthony Tate, of Pearson Lane, Shawford,
Winchester, Hampshire, was a director of Crowndraw Limited,
which carried on business from premises at 11 College Place,
London Road, Southampton, SO15 2FE.

The Disqualification Order, made on November 4, 2004 prevents
Mr. Tate from being a director of a company or, in any way,
whether directly or indirectly, being concerned in or taking
part in the promotion, formation or management of a company for
the above period.

The company was placed into voluntary liquidation on February
24, 2003 with estimated debts of GBP489,000 owed to its
creditors.

Matters of unfit conduct, found by the Court, were that Adrian
John Anthony Tate:

(a) caused Crowndraw to trade to the detriment of the crown as
    he failed to comply with its statutory requirement to pay
    Crown monies to HMCE and the Inland Revenue;

(b) failed to comply with his statutory duty to co-operate with
    the liquidator and to deliver the company books and records.

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


CROWN GREETINGS: Appoints KPMG Liquidator
-----------------------------------------
At the extraordinary general meeting of Crown Greetings Limited
on Nov. 29, 2004 the special and ordinary resolutions to wind up
the company were passed.  Mark Jeremy Orton and Allan Watson
Graham of KPMG Corporate Recovery, 2 Cornwall Street, Birmingham
B3 2DL have been appointed joint liquidators of the company.

CONTACT:  KPMG LLP
          2 Cornwall Street
          Birmingham B3 2DL
          Phone: (0121) 232 3000
          Fax: (0121) 232 3500
          Web site: http://www.kpmg.co.uk


DD4 LIMITED: Hires Administrator from Sargent & Company Limited
---------------------------------------------------------------
Peter Sargent (IP No 8636) has been appointed administrator of
DD4 Limited.  The appointment was made Dec. 3, 2004.  The
company manages a public house and nightclub.  Its registered
office is located at 5 Gilthwaite Crescent, Denby Dale,
Huddersfield HD8 8SW.

CONTACT:  SARGENT & COMPANY LIMITED
          36 Clare Road, Halifax HX1 2HX


ELITE COFFEE: Creditors Opt for Liquidation
-------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

      IN THE MATTER OF Elite Coffee and Tea Company Limited
                        (In Liquidation)

I, Donald McKinnon, of Wylie & Bisset, 168 Bath Street, Glasgow,
G2 4TP hereby give notice, pursuant to Rule 4.19 of the
Insolvency (Scotland) Rules, that on November 16, 2004 I was
appointed Liquidator of Elite Coffee and Tea Company Limited by
a resolution of the first meeting of creditors held in terms of
Section 138(3) of the Insolvency Act 1986.  No Liquidation
Committee was established.

I do not intend to summon a further meeting for the purpose of
establishing a Liquidation Committee unless one-tenth, in value
of the creditors require it in terms of Section 142(3) of the
Insolvency Act 1986.

Donald McKinnon, Liquidator

CONTACT:  WYLIE & BISSET
          168 Bath Street
          Glasgow G2 4TP
          Phone: +44 (0) 141 566 7000
          Fax: +44 (0) 141 566 7001
          E-mail: info@wyliebisset.com
          Web site: http://www.wyliebisset.com


F T PATTEN: Owners Decide to Dissolve Company
---------------------------------------------
At the extraordinary general meeting of F T Patten Properties
(Old Port) Limited on May 24, 2004 held at the offices of Brown
Butler, Yorkshire Bank Chambers, Infirmary Street, Leeds, the
subjoined special and ordinary resolutions to wind up the
company were passed.  David Michael Clements of Haines Watts,
First Floor, Park House, Park Square West, Leeds LS1 2PS has
been appointed liquidator of the company.

CONTACT:  HAINES WATTS
          First Floor, Park House,
          Park Square West, Leeds LS1 2PS
          Phone: 0113 398 1100
          Fax:   0113 398 1101
          Web site: http://www.hwca.com


GAZEBO WORLDWIDE: Calls in Liquidator from Kroll Limited
--------------------------------------------------------
At the extraordinary general meeting of Gazebo Worldwide
Clothing Co. Limited on Dec. 6, 2004 held at Kroll Limited, 1
Oxford Court, Bishopsgate, Manchester M2 3WR, the special,
ordinary and extraordinary resolutions to wind up the company
were passed.  D. J. Whitehouse of Kroll Limited, 1 Oxford Court,
Bishopsgate, Manchester M2 3WR has been appointed liquidator of
the company.

CONTACT:  KROLL LIMITED
          1 Oxford Court,
          Bishopsgate, Manchester M2 3WR


GEORGE BARNSLEY: Hires Liquidator from Freeman Rich Insolvency
--------------------------------------------------------------
At the extraordinary general meeting of the members of George
Barnsley & Sons Ltd. on Dec. 1, 2004 held at 56 Shoreham Street,
Sheffield S1 4SP, the special resolution to wind up the company
was passed.  James Richard Duckworth of Freeman Rich Insolvency,
284 Clifton Drive South, Lytham St Annes, Lancashire FY8 1LH has
been appointed liquidator of the company.

CONTACT:  FREEMAN RICH INSOLVENCY
          284 Clifton Drive South,
          Lytham St Annes, Lancashire FY8 1LH


GLOBAL CROSSING: Gets (P)Caa1 Senior Implied Rating from Moody's
----------------------------------------------------------------
Moody's Investors Service assigned a first time (P)Caa1 senior
implied rating to Global Crossing U.K. Telecommunications
Limited.  It also assigned a senior unsecured issuer rating of
(P)Caa3 to the company.  Concurrently, Global Crossing (U.K.)
Finance plc's proposed US$350 million senior secured notes was
rated (P)Caa1.  The offering is guaranteed by Global Crossing
U.K. Telecommunications Limited.  The outlook for all ratings is
stable.

The (P)Caa1 senior implied rating incorporates substantial
uncertainty with respect to the company's future financial
trends.  The stable outlook considers the generally stable
financial performance demonstrated by the company over the past
year.

Global Crossing plans to use proceeds from the offering to repay
parent inter-company debt, repay existing bridge financing, and
pay fees and expenses.  All remaining inter-company loans and
payables will be waived or converted into equity as part of the
transaction.  The ratings assume the transaction will proceed
according to the draft legal document reviewed by Moody's.

The notes and the senior implied rating are at the same level to
reflect the senior position of noteholders in the company's
capital structure.

CONTACT:  Global Crossing Ltd. (NASDAQ: GLBC)
          200 Park Ave., Ste. 300
          Florham Park, NJ 07932
          Phone: 973-937-0100
          Fax: 973-360-0148
          Toll free: 800-836-7000
          Web site: http://www.globalcrossing.com


GREAT LAKES: Members Decide to Call in Liquidator
-------------------------------------------------
Name of companies:
Great Lakes Receivables Financing Limited
Great Lakes Receivables Financing (No.1) Limited
Great Lakes Receivables Financing (Receivables Trustee) Limited

At the extraordinary general meeting of the members of these
companies on Dec. 3, 2004 held at the offices of SPV Management
Limited, Level 11, Tower 42, International Financial Centre, 25
Old Broad Street, London EC2N 1HQ, the special resolution to
wind up the companies were passed.  Ian Cadlock of Tenon
Recovery, Lyndean House, 43-46 Queens Road, Brighton, East
Sussex BN1 3XB has been appointed liquidator of the company.

CONTACT:  TENON RECOVERY
          Lyndean House, 43-46 Queens Road,
          Brighton, East Sussex BN1 3XB
          Phone: 01273 725566
          Fax: 01273 724502
          Web site: http://www.tenongroup.com


HALLCO 69: Hires John H. C. Lee as Liquidator
---------------------------------------------
At the extraordinary general meeting of the members of the
Hallco 69 Limited on Nov. 24, 2004 held at Gleadhill House,
Dawbers Lane, Euxton, Chorley, Lancashire PR7 6EA, the special
resolution to wind up the company was passed.  John H. C. Lee of
Horsfields, 8 Manchester Road, Bury, Lancashire BL9 0ED has been
appointed liquidator of the company.

CONTACT:  HORSFIELDS
          8 Manchester Road,
          Bury, Lancashire BL9 0ED
          Phone: 0161 763 3183
          Fax: 0161 763 1283


HIGHLAND ELECTRONICS: Liquidator from Numerica Moves in
-------------------------------------------------------
Name of companies:
Highland Electronics Group Plc
Lynchford Products Limited

At the extraordinary general meeting of these companies on Nov.
30, 2004 held at Herbert Smith, Exchange House, Primrose Street,
London EC2A 2HS, the special, ordinary and extraordinary
resolutions to wind up the companies were passed.  Colin Ian
Vickers of Numerica, 4th Floor, Southfield House, 11 Liverpool
Gardens, Worthing, West Sussex BN11 1RY has been appointed
liquidator of these companies.

CONTACT:  NUMERICA
          4th Floor, Southfield House,
          11 Liverpool Gardens, Worthing, West Sussex
          Phone: 01903 222500
          Fax:   01903 207009
          Web site: http://www.numerica.biz


HORWICH CASTINGS: Creditors' Meeting Set Monday
-----------------------------------------------
The creditors of Horwich Castings Limited will meet on Dec. 20,
2004 commencing at 11:00 a.m.  It will be held at 1st Floor,
Commercial Buildings, 11-15 Cross Street, Manchester M2 1BD.

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 LLP, Commercial Buildings, 11-15
Cross Street, Manchester M2 1BD not later than 12:00 noon, Dec.
17, 2004.

CONTACT:  BDO STOY HAYWARD LLP
          Commercial Buildings,
          11-15 Cross Street, Manchester M2 1BD
          Phone: 0161 817 3700
          Fax:   0161 817 3711
          E-mail: manchester@bdo.co.uk
          Web site: http://www.bdo.co.uk


INGRAM & GLASS: In Administrative Receivership
----------------------------------------------
National Westminster Bank Plc called in Timothy John Edward
Dolder and Nicholas Roy Hood (Office Holder Nos 9008, 8350) as
joint administrative receivers for Ingram & Glass Limited (Reg
No 00418521, Trade Classification: 2875 and 2851).  The
application was filed Dec. 1, 2004.  The company manufactures
fabricates, treats and coats metal products.

CONTACT:  BEGBIES TRAYNOR (SOUTH) LLP
          32 Cornhill, London EC3V 3BT
          Phone: 020 7398 3800
          Fax:   020 7398 3799
          Web site: http://www.begbies.com


JARVIS PLC: Tubelines Stake Sale Could Fetch GBP100 Million
-----------------------------------------------------------
Infrastructure services group Jarvis plc is close to selling its
one-third stake in Tubelines, a consortium that has a contract
to manage a third of the London Underground.

The company is selling the stake to private equity group Star
Capital for a little over GBP100 million.  Alan Lovell, chief
executive of Jarvis, is now seeking approval for the deal from
other members of the consortium and Transport for London.  Since
there are no indication the deal will be spurned, The Telegraph
says the sale may be announced before Christmas.

The Tubelines deal is a crucial part in saving the firm from an
impending bankruptcy.  The company badly needs refinancing to
complete its construction projects.  Mr. Lovell is looking for
GBP100 million from partners to finish its PFI contract with the
government.  Mr. Lovell plans to sell four PFI contracts,
followed by other fire-sale disposals, including its European
roads business, which is expected to fetch up to GBP30 million
in two weeks.  It is also considering axing 300 workers and
transferring headquarters from the South East to York.

The plan is expected to bring in a strategic investor to take up
to 40% of the company, enabling it to extend its GBP250 million-
bank loan for another year.  The loan is split between two
groups, the biggest a syndicate headed by Royal Bank of Scotland
and Barclays.  The other is a GBP91 million U.S. loan note.

Tubelines has a contract worth an estimated GBP4.4 billion to
maintain and repair the Tube network.  It made a profit of GBP40
million last year.

CONTACT:  JARVIS PLC
          Lisa Carine
          Phone: + 44 20 7462 4646

          TULCHAN COMMUNICATIONS
          David Trenchard
          Phone: + 44 20 7353 4200


JARVIS PLC: Puts PFI Contracts for Sale
---------------------------------------
Support services company Jarvis plc is selling four of the 14
private finance initiative construction projects that it runs as
part of a rescue plan, the Financial Times reports.

Jarvis announced last week it might collapse next year if it
fails to secure new financing.  The company has debts of over
GBP240 million, and has difficulty paying subcontractors due to
cash flow problems.  It has already stopped work at two of its
PFI construction sites and is now planning to exit from all PFI
arrangements and focus on plant hire and building roads and
railways for Network Rail and local authorities.

The contracts being sold include an education and nursery
facility in south Wales, and student residences at Lancaster
University.  The Welsh contract is a scheme to provide and
manage two new Welsh language schools, a community education
facility and a day nursery at Garth Olwg.  The 25-year contract
has an estimated life value of more than GBP83 million in 2002.

The Lancaster University contract is a scheme to create and
operate new student residences and social facilities.  The 25-
year contract was expected to have an initial income of GBP12
million a year when Jarvis won it in 2002.  Work on these
projects is already behind schedule.

Building services group Vinci is understood to be the preferred
bidder for all these projects.  No one from the firm was
available to comment on the report.  Jarvis declined to comment
on the four contracts, but said it was close to finishing
construction of five others.

CONTACT:  JARVIS PLC
          Lisa Carine
          Phone: + 44 20 7462 4646

          TULCHAN COMMUNICATIONS
          David Trenchard
          Phone: + 44 20 7353 4200


JASHAN RESTAURANT: Names RE10 Administrator
-------------------------------------------
Nimish Patel and Bijal Shah (IP Nos 8679, 8717) have been
appointed administrators for Jashan Restaurant Limited.  The
appointment was made Dec. 1, 2004.

The company manufactures and supplies Indian food and
restaurants.  Its registered office is located at RE10, Trinity
House, Heather Park Drive, Wembley, Middlesex HA0 1SU.

CONTACT:  RE10
          Trinity House, Heather Park Drive,
          Wembley, Middlesex HA0 1SU
          Helpline: 870 787 2346
          Web site: http://www.re10.co.uk


JAZZ PHOTO: Sets Creditors' Meeting Next Week
---------------------------------------------
The creditors of Jazz Photo Limited will meet on Dec. 22, 2004
commencing at 11:00 a.m.  It will be held at Tenon Recovery,
Sherlock House, 73 Baker Street, London W1U 6RD.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to Tenon Recovery, Sherlock House, 73 Baker Street,
London W1U 6RD not later than 12:00 noon, Dec. 21, 2004.

CONTACT:  TENON RECOVERY
          Sherlock House
          73 Baker Street, London W1U 6RD
          Phone: 020 7935 5566
          Fax: 020 7935 3512
          E-mail: bakerstreet@tenongroup.com
          Web site: http://www.tenongroup.com


LANGPORT LIMITED: Ex-Director Receives Disqualification Order
-------------------------------------------------------------
The director of a demolition and refurbishment business which
failed with debts of more than GBP1.6 million has been
disqualified in the Southampton County Court for eight years
from acting as a company director.

Martin Anthony Birch, of Winchester Road, Fair Oak, Eastleigh,
Hampshire, was a director of Langport Limited, which carried on
business from premises at Unit 1-3 Dunford Business Park, Main
Road, Colden Common, Winchester, Hampshire, SO21 1RP.

The Disqualification Order, made on December 1, 2004 prevents
Martin Anthony Birch from being a director of a company or, in
any way, whether directly or indirectly, being concerned in or
taking part in the promotion, formation or management of a
company for eight years.

The company was placed into voluntary liquidation on February 5,
2002 with estimated debts of GBP1,600,000 owed to its creditors.

Matters of unfit conduct, found by the Court, were that Martin
Anthony Birch:

(a) allowed Langport to trade with knowledge of insolvency;

(b) allowed Langport to trade to the detriment of its creditors
    at a time when other creditors were not being paid.

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


LEGERITY UK: Hires Joint Liquidators from PwC
---------------------------------------------
At the extraordinary general meeting of Legerity UK Limited on
Nov. 30, 2004, the special and ordinary resolutions to wind up
the company were passed.  Richard Setchim and Jonathan Sisson of
PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT have
been appointed joint liquidators of the company.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Plumtree Court
          London EC4A 4HT
          Phone: [44] (20) 7583 5000
          Fax:   [44] (20) 7822 4652
          Web site: http://www.pwc.com


MAXUM LIMITED: Liquidator Calls Final Meeting of Creditors
----------------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

                  IN THE MATTER OF Maxum Limited
                         (In Liquidation)

Notice is hereby given pursuant to section 146 of the Insolvency
Act 1986 that a final meeting of the creditors of Maxum Limited
will be held at 1 Royal Terrace, Edinburgh, EH7 5AD on January
11, 2005 at 10:00 a.m. for the purposes of receiving the
Liquidator's report on the winding up and to determine whether
the Liquidator should be released.

K. R. Craig, Liquidator

CONTACT:  TENON RECOVERY
          One Royal Terrace
          Edinburgh EH7 5AD
          Phone: 0131 557 4455
          Fax: 0131 556 0662
          E-mail: edinburgh@tenongroup.com
          Web site: http://www.tenongroup.com


MOYLAN CONSTRUCTION: Insolvency Service Bans Top Honcho
-------------------------------------------------------
A director of a building contractors business that failed with
total debts estimated at over GBP162,000 has given an
Undertaking not to hold directorships or take any part in
company management for four years

The Undertaking by Martin Joseph Moylan, 48, of Dobb Hedge
Close, Hale Barns near Altrincham, Cheshire, was given in
respect of his conduct as a director of Moylan Construction
Limited, which carried out business from premises at Newbridge
House, on Henderson Street in Macclesfield, Cheshire.

Acceptance of the Undertaking on November 22, 2004 mean that
with effect from December 13, Mr. Moylan is prevented 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.

Moylan Construction Limited was placed into liquidation on March
7, 2002 date with estimated debts of GBP162,734 owed to
creditors.

Matters of unfit conduct, not disputed by Mr. Moylan include,
that he:

(a) Caused or allowed the company to trade to the detriment to
    the Inland Revenue in respect of unpaid Corporation Tax,
    Income Tax, National Insurance contribution and PAYE
    liabilities totaling GBP31,022; and

(b) Failed to maintain, preserve and deliver adequate accounting
    records for the company.  As a result the liquidator was
    hampered in his administration and has been unable to
    satisfy himself as to the cause of the company's failure or
    to identify its assets and liabilities.

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.

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


MYTRAVEL GROUP: Creditors Approve Scheme of Arrangement
-------------------------------------------------------
MyTravel Group plc notes the decision by the Court of Appeal.
The Court of Appeal did not give leave for the appeal by the
bondholders on the substantive issues raised by them, including
whether the bondholders have an economic interest in the
company.

Leave was given and the appeal allowed for the limited purposes
of making it clear that the orders convening the meetings of
shareholders and general creditors to approve the scheme would
not preclude the bondholders challenging the company's proposals
at the previously scheduled sanction hearing on 20 December
before Mr. Justice Mann.  This means that the timetable for the
scheme of arrangement remains unchanged.

The company announces that at Monday's meetings of shareholders
and general creditors the resolutions to approve the proposal in
relation to a scheme of arrangement under section 425 of the
Companies Act were passed by the requisite majorities.

In the shareholders meeting, the numbers of votes cast were
138,552,187 in favor and 3,031,619 against 97.8% of the votes
cast were in favor.  In the general creditors meeting, general
creditors with claims valued at GBP36,728,373 voted in favor and
general creditors with claims valued at GBP743 voted against
99.9% of the claims of general creditors were voted in favor.

MyTravel Group Chairman Michael Beckett said: "With approval by
the shareholders and general creditors of the necessary
resolutions at [Monday's] meetings, and with the support of our
lending banks and facility providers, it only remains for the
scheme to be sanctioned by the court at the hearing scheduled
for 20 December.  This will enable us to complete the
restructuring by the end of the year."

The company also announces that its preliminary results for the
13 months ending 31 October 2004 will be announced on 15
December.

CONTACT:  BRUNSWICK GROUP LLP
          Phone: 020 7404 5959
          Fiona Antcliffe
          William Cullum


MYTRAVEL GROUP: Bondholders Revive Battle Over Debt-Equity Swap
---------------------------------------------------------------
Bondholders of Britain's MyTravel Group (MT.L) won an appeal
Dec. 13 to participate in a planned GBP800 million ($1.5
billion) debt-for-equity swap necessary for the firm's survival.

Holders of convertible bonds worth GBP216 million have been
battling with MyTravel over how much equity they get in the
company's debt restructuring plan. They rejected a proposed 8
percent equity offer on Nov. 17, leading the company to get
court backing to exclude them from a vote on the plan at so-
called 'scheme-of-arrangement' meetings for other creditors and
shareholders.  London's Court of Appeal ruled, however, that the
bondholders have a say in and may challenge MyTravel's plans
before Christmas.

MyTravel, in debt of GBP1.3 billion after an expansion drive,
expects to lose its trading license if restructuring is not
completed before the year ends.

CONTACT:  MyTravel Group plc
          Parkway One, Parkway Business Centre,
          300 Princess Rd. Manchester M14 7QU, United Kingdom
          Phone: +44-161-23-20-066
          Fax: +44-161-23-26-524
          Web site: http://www.mytravelgroup.com


NAX CIVIL: Appoints PricewaterhouseCoopers Administrator
--------------------------------------------------------
Ian Green and Toby Underwood (IP Nos 9045, 9270) have been
appointed administrators for Nax Civil Engineering Limited.  The
appointment was made Dec. 2, 2004.  The company is engaged in
general construction and civil engineering.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Benson House
          33 Wellington Street, Leeds LS1 4JP
          Phone: [44] (113) 289 4000
          Fax: [44] (113) 289 4460
          Web site: http://www.pwcglobal.com


NIMMO PACKAGING: Creditors' Meeting Set Next Week
-------------------------------------------------
The creditors of Nimmo Packaging Systems Limited will meet on
Dec. 23, 2004 commencing at 10:00 a.m.  It will be held at
Holiday Inn, Victoria Way, Woking, Surrey GU21 8EW.

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, Dec.
22, 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.rotham-pantall.co.uk


NTL INCORPORATED: Non-financial Stocks Among NASDAQ's Largest
-------------------------------------------------------------
Ntl Incorporated (NASDAQ:NTLI) announces that it has been added
to the NASDAQ-100 Index(R), effective from the beginning of
trading on Monday, December 20, 2004.  The NASDAQ-100 Index is
composed of the 100 largest non-financial stocks listed on The
NASDAQ Stock Market based on market capitalization.  On 10
December, the last trading day before this announcement, ntl's
market capitalization was US$6.148 million. Shares of ntl
Incorporated will also be included in The NASDAQ-100 Index
Tracking Stock(R) (Amex:QQQ).

Simon Duffy, chief executive officer of ntl, said: "This has
been a year of considerable operational improvement for ntl and
I am delighted we are to be included in the NASDAQ-100.  It
represents a significant recognition by the financial markets of
the progress the company has made."

More on ntl

ntl Incorporated (NASDAQ:NTLI) offers a wide range of
communications and entertainment services to residential and
business customers throughout the U.K. and Ireland.  It is the
U.K.'s largest cable company and broadband supplier with 3
million residential customers, including over one million
broadband customers.

Ntl's fiber-optic broadband network can service 7.8 million
homes in the U.K.

More on the NASDAQ-100

The NASDAQ-100 Index is composed of 100 of the largest non-
financial companies listed on the NASDAQ National Market tier of
The Nasdaq Stock Market.  The Index was first published in
January of 1985 and reflects NASDAQ's largest non-financial
companies across major industry groups, including computer and
office equipment, computer software/services,
telecommunications, retail/wholesale trade, and biotechnology.

CONTACT:  NTL INCORPORATED
          Investor Relations:
          U.S.: Patti Leahy
          Phone: 1-610-667-5554
          U.K.: Virginia Ramsden
          Phone: 44-0-20-7967-3338
          or
          Media:
          Alison Kirkwood
          Phone: 44-0-1256-752662/0-7788-186154
          Nicola Mitchell
          Phone: 44-0-1256-752669/0-7884-057-576
          or

          BUCHANAN COMMUNICATIONS
          Richard Oldworth or Jeremy Garcia
          Phone: 44-0-20-7466-5000


ONE AMERICA: Calls in Liquidator from PwC
-----------------------------------------
At the extraordinary general meeting of One America Square
Developments Limited on Nov. 19, 2004, the special and ordinary
resolutions to wind up the company were passed.  Richard Setchim
and Jonathan Sisson of PricewaterhouseCoopers LLP, Plumtree
Court, London EC4A 4HT have been appointed joint liquidators of
the company.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Plumtree Court
          London EC4A 4HT
          Phone: [44] (20) 7583 5000
          Fax:   [44] (20) 7822 4652
          Web site: http://www.pwc.com


PENSUK IT: Director Banned from Holding Executive Post
------------------------------------------------------
The director of a computer consultancy business that failed with
total debts estimated at around GBP84,000 has given an
Undertaking not to hold directorships or take any part in
company management for five years.

The Undertaking by David John Snipe, aged 34 of Cygnet Walk,
Stanway, Colchester, was given in respect of his conduct as a
director of Pensuk (IT) Consultants Limited, which carried out
business from premises at 3 Cygnet Walk, Stanway, Colchester,
Essex, CO3 8ZD.

Acceptance of the Undertaking on November 30, 2004 prevents
David John Snipe from being a director of a company, or in any
way being concerned or taking part in the promotion, formation
or management of a company for the above period.

Pensuk (IT) Consultants Limited was placed into voluntary
liquidation on December 4, 2002 with estimated debts of
GBP83,766 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 David John Snipe, were
that:

(a) He caused the company to trade to the detriment of the
    Crown, in that he failed to pay tax due to the Inland
    Revenue and withdrew monies in salary and dividends, thus
    reducing the company's reserves to such an extent that it
    was unable to pay its debt to the Inland Revenue;

(b) he failed to ensure that the company complied with its
    statutory obligations in respect of the Inland Revenue,
    resulting in the company failing to pay its tax liabilities
    as and when they were due; and

(c) Mr. Snipe furthermore allowed the company to trade in the
    same line of business and in the same manner as his previous
    failed company, Datafax Limited.  That company also had
    Inland Revenue and Customs & Excise debts, which could not
    be met following the withdrawal of dividends and salary. Mr.
    Snipe made no efforts to address the causes of this failure
    when he was a director of Pensuk (IT) Consultants Limited.

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


POLWICK LIMITED: Liquidator's Report Due End of January
-------------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

                IN THE MATTER OF Polwick Limited
                        (In Liquidation)

Notice is hereby given, pursuant to Section 146 of the
Insolvency Act 1986, that the Final Meeting of Creditors of the
above named Company will be held within the offices of PKF,
Accountants and business advisors, 78 Carlton Place, Glasgow G5
9TH on 31st January 2005 at 11.00am for the purposes of
receiving the Liquidator's Report on the conduct of the winding-
up, to determine the manner in which the books, accounts and
documents of the Company should be disposed, and determining
whether, in terms of Section 174 of the Insolvency Act 1986, the
Liquidator should receive his release.

Any creditor entitled to attend and vote at the above Meeting is
entitled to appoint a proxy to attend and vote in their stead,
and such proxy need not be a creditor. A proxy to be used at the
Meeting must be lodged with me at PKF, Accountants and business
advisors, PKF, 78 Carlton Place, Glasgow G5 9TH, before or at
the Meeting at which it is to be used.

Bryan Jackson, Liquidator

November 29, 2004

CONTACT:  PKF
          78 Carlton Place
          Glasgow G5 9TH
          Phone: 0141 4295900
          Fax: 0141 4295901
          E-mail: info.glasgow@uk.pkf.com
          Web site: http://www.pkf.co.uk


POSE LIMITED: Director Banned for 14 Years
------------------------------------------
The director of a company involved in the mobile telephone
business that failed with total debts estimated at around
GBP745,000 has given an Undertaking not to hold directorships or
take any part in company management for 14 years.

The Undertaking by Resham Singh, 52, of Mendip Avenue, Lindley,
Huddersfield, West Yorkshire, was given in respect of his
conduct as a director of Pose Limited, which carried on business
from premises at 216B Manchester Road, Thornton Lodge,
Huddersfield, HD1 3JF.

Acceptance of the Undertaking on November 30, 2004 prevents
Resham Singh from being a director of a company or, in any way,
whether directly or indirectly, being concerned in or taking
part in the promotion, formation or management of a company for
the above period.

Pose Limited was placed into compulsory liquidation by Order of
the High Courts of Justice on August 21, 2003 on the petition of
HM Customs and Excise for GBP745,040 owed in respect of unpaid
VAT liability. The company has an estimated total deficiency of
GBP745,050.

The Official Receiver at Manchester had conduct of the
investigation and disqualification procedure.

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 Resham Singh, was that
he recklessly disregarded the suspicious circumstances
surrounding a transaction involving the supply of mobile
telephones which should have alerted him to the risk that the
VAT payable to HM Customs & Excise in respect of the supply
would go unpaid.

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


ROYAL MAIL: Dismisses Rumored Privatization
-------------------------------------------
Royal Mail denied it is in conspiracy with the government to
privatize the courier after the next election.  Mail on Sunday
says a sale could give 20% of firm to workforce, and 31% to
investors, raising GBP4 billion.

"As far as we are concerned this is not the case.  It is not the
Royal Mail's prerogative to do anything like this, it is a
matter for the government and it is our understanding that this
is not on their agenda," a Royal Mail spokesman said.

The Department of Trade and Industry also denied the report.
"We have no plans to privatize the Post Office, no plans at all.
We have no plans to privatize any element of it."

A sale promises to be controversial as Royal Mail is at crucial
stage of development.  It has slowly stemmed its huge losses,
and is expected to make at least GBP400 million this year.  But
it still need to hit performance target, fund its large pension
fund deficit, and tackle future competition in its letters
business when the market is liberalized.

Previous reports say Royal Mail's newly re-appointed chairman
Allan Leighton believes the firm could compete better in the
letters business in the future as a private company.  But it is
thought Royal Mail would be unlikely to want to take on the
challenge of coping with competition and privatization at the
same time.

CONTACT:  Royal Mail Holdings plc
          148 Old St. London EC1V 9HQ,
          United Kingdom
          Phone: +44-20-7250-2888
          Fax: +44-20-7250-2244
          Web site: http://www.royalmailgroup.com


SPM ENGINEERING: Calls in Liquidator from Chantrey Vellacott DFK
----------------------------------------------------------------
At a meeting of SPM Engineering Limited, the resolution to wind
up the company was passed.  John Charles Heath and Kenneth
William Touhey of Chantrey Vellacott DFK, Town Wall House,
Balkerne Hill, Colchester, Essex CO3 3AD have been appointed
joint liquidators of the company.

CONTACT:  CHANTREY VELLACOTT DFK
          Town Wall House, Balkerne Hill,
          Colchester, Essex CO3 3AD
          Web site: http://www.cvdfk.com


SUPERIOR RECEIVABLES: Names Tenon Recovery Liquidator
-----------------------------------------------------
At the extraordinary general meeting of the members of Superior
Receivables Financing Limited held at the offices of SPV
Management Limited, Level 11, Tower 42, International Financial
Centre, 25 Old Broad Street, London EC2N 1HQ, the special
resolution to wind up the company was passed.  Ian Cadlock of
Tenon Recovery, Lyndean House, 43-46 Queens Road, Brighton, East
Sussex BN1 3XB has been appointed liquidator of the company.

CONTACT:  TENON RECOVERY
          Lyndean House, 43-46 Queens Road,
          Brighton, East Sussex BN1 3XB
          Phone: 01273 725566
          Fax: 01273 724502
          Web site: http://www.tenongroup.com


TEMLIQUOTE LIMITED: Members Pass Winding up Resolutions
-------------------------------------------------------
At the extraordinary general meeting of the Temliquote Limited
on Dec. 1, 2004 held at Century House, Harold's Cross Road,
Dublin 6W, Ireland, the special, ordinary and extraordinary
resolutions to wind up the company were passed.  Barry Forrest
of UHY O'Connor, Leddy & Holmes has been appointed liquidator of
the company.


TURNER & NEWALL: Pensioners Risk Getting Zilch
----------------------------------------------
Turner & Newall's pension scheme stand to become the biggest
final salary scheme ever to be wound up in Britain after the
firm's U.S. parent withdrew its rescue offer.

Federal Mogul took back its promised GBP97 million cash
injection; a surprise move, reports say.  Some 40,000 scheme
members now stand to lose a significant part of their
investment.  The scheme has a deficit of nearly GBP900 million.

John Ralfe, leading pension consultant said about 20,400
pensioners at the engineering firm may lose 20% of their
promised benefits and a further 16,800 members who have not
retired could lose up to 80% in a wind-up.   The scheme's
collapse also threatens government plans to help those who lose
out in pension wind-ups.  Scheme members who suffered
liquidation of smaller funds now number 65,000.


VOSS NET: Names Two New Board Members
-------------------------------------
The Board of Voss Net plc named Gerard Nealon and Denis Chambers
directors effective Thursday.

Simultaneous with the appointments, the Board also announces
that Leo Knifton resigned as Chairman and Thomas Hellman
resigned as a non-executive director also with immediate effect.
Mr. Nealon has been appointed Chairman of the Company.

Current and past directorships of Gerard Anthony Nealon (aged
44) held within the last five years are set out.

Current Directorships

Invest Tech Pte. Ltd.
Floran Asia Pte. Ltd.
Limerick Global Consulting Pty. Ltd

Past Directorships
Sylvania Resources Ltd.
Clean Water Australia Pty. Ltd.
Fire Investigation Services Pty. Ltd

There are no further disclosures required by paragraph (f) of
Schedule Two of the AIM Rules in respect of Mr. Nealon.

Current and past directorships of Denis Edward Chambers (aged
61) held within the last five years are set out.

Current Directorships                       Past Directorships

None                                        none

                            *   *   *

Voss Net plc continues to operate as an AIM shell seeking
suitable targets for acquisition to increase shareholder value.

As announced on 10 October 2003, the Board of Voss Net entered
into an agreement with Nigel Weller and Leo Knifton, who will
provide financial assistance enabling the Company and its
subsidiaries to enter into Company Voluntary Arrangements.


WHITE CROSS: Names Horsfields Liquidator
----------------------------------------
At the extraordinary general meeting of the members of White
Cross Parks Limited on Nov. 24, 2004 held at Gleadhill House,
Dawbers Lane, Euxton, Chorley, Lancashire PR7 6EA, the special
resolution to wind up the company was passed.  John H. C. Lee of
Horsfields, 8 Manchester Road, Bury, Lancashire BL9 0ED has been
appointed liquidator of the company.

CONTACT:  HORSFIELDS
          8 Manchester Road,
          Bury, Lancashire BL9 0ED
          Phone: 0161 763 3183
          Fax: 0161 763 1283


                            *********


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.

This material is copyrighted and any commercial use, resale or
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re-mailing and photocopying) is strictly prohibited without
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Information contained herein is obtained from sources believed
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The TCR Europe subscription rate is US$575 per half-year,
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