/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/041230.mbx T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Thursday, December 30, 2004, Vol. 5, No. 258 Headlines C Y P R U S CYPRUS AIRWAYS: Needs CYP60 Million to Continue Flying C Z E C H R E P U B L I C ALLIONA: Falls into Liquidation F R A N C E MARIONNAUD PARFUMERIES: Ordered to Halve Debt in Six Months G E R M A N Y ANTON LUDWIG: Court to Review Claims Third Week of February C + U: First Creditors Meeting Set April ELEKTRO GMBH: Augsburg Court Opens Bankruptcy Proceedings FHMS GMBH: Gives Creditors Until March to File Claims GLASBAU METZGER: Last Day for Filing of Claims February 18 GOLIM 3 MBH: Provisional Administrator Takes over Helm HORST HEMPELMANN: Administrator's Report Out February INFINEON TECHNOLOGIES: Forms Joint Venture with Parlex MAHRT KOPIER: Court to Verify Claims Last Week of February SUSANNES: Court Appoints Provisional Administrator VERMIETUNGS: Creditors Meeting Set Second Week of February I T A L Y ALITALIA SPA: Long-term Debt Position Stabilizes PARMALAT FINANZIARIA: Citigroup Seeks Approval to Sue LatAm Arms K Y R G Y Z S T A N AIDAN-PHARMA: Govt Selling 100% Stake for KGS32 Million KYRGYZKILEM: Public Auction Set January 11 KYRGYZSERVICECONTRACT: Last Day for Filing of Bids January 10 NORTH ZONE: To Hold Public Auction Next Week PANORAMA: Expects to Raise KGS8 Mln from Sale of Building TESGUN: Under Bankruptcy Supervision N O R W A Y AKER KVAERNER: Acquires Ellayess from Kvaerner R U S S I A AMURSK-KAP-STROY: Declared Insolvent ARZAMAS-STROY-MECHANIZATION: Insolvency Manager Takes over Helm AVTOMOBILIST: Sverdlovsk Court Opens Bankruptcy Proceedings DOCK YARD: Appoints Y. Dolin Insolvency Manager GOR-PISHE-COMBINE: Declared Insolvent INVESTMENT-FINANCIAL CORPORATION: Under Bankruptcy Supervision KAMYSHESKIY: Declared Insolvent MELIORATION: Tatarstan Court Appoints Insolvency Manager MINE SINEGORSKAYA: Succumbs to Insolvency SHABALINSKOYE KHPP: Gives Creditors Until January to File Claims YUKOS OIL: Credit Rating Slips Further to 'D' S W E D E N LM ERICSSON: World's Tallest Building to Use Ericsson Technology U K R A I N E CONCERN UKRTARA: Under Bankruptcy Supervision KONOTOPSKIJ PRODPOSTACH: Sumi Court Opens Bankruptcy Proceedings LISOVE: Declared Insolvent PETROVSKE: Succumbs to Insolvency SLOBODA: Files for Bankruptcy U N I T E D K I N G D O M AFFORDABLE LAND: Lord Newbold, Other Execs Banned for 22 Years BKSOFT LIMITED: Claims Period Ends Third Week of January BRITISH ENERGY: Applies for Registration as Private Limited Co. BRITISH ENERGY: Court Awaits Comments to Creditors' Scheme BRITISH NUCLEAR: Sale May Take Place After General Elections C & R MAINTENANCE: Names Begbies Traynor Liquidator CUTTING EDGE: Members Decide to Dissolve Company EBC CONTRACTS: Director Barred from Occupying Management Post EDUCATIONAL PRODUCTS: Calls in Liquidator ENJAY REPROGRAPHICS: Opts for Liquidation EPMB (UK): Appoints David Exell Associates Liquidator FAB-TECH GATES: Hires Joint Liquidators from BRI Business FOULSHAW PROPERTY: Members Final Meeting Set January HAIR WORKS: Hires Joint Liquidators from Numerica HAMBALT SERVICES: Liquidator's Final Report Out January 21 HAWKBRIDGE LIMITED: Names Portland Business Liquidator H & D TRANSPORT: Begbies Traynor Liquidator Enters Firm HOLISTEK LIMITED: Appoints Liquidator from Pridie Brewster HOLLY PARK: Files for Liquidation HOSTDENE LIMITED: Hires Tenon Recovery Liquidators ICON CERAMICS: Owners Decide to Liquidate Company LIS CONSTRUCTION: Liquidator from Thorntonrones Moves in MARLBOROUGH MEDIA: Members Agree to Wind up Business M & W SALES: Appoints Begbies Traynor Liquidator NEALES AIRCRAFT: Insolvency Service Banish Director for 4 Years NEW STAR: Calls Final Meeting of Members NSEIT ZEROS: Liquidator to Give Final Update Next Month SLOVENIAN FUND: Deadline for Filing of Claims Next Week ********* =========== C Y P R U S =========== CYPRUS AIRWAYS: Needs CYP60 Million to Continue Flying ------------------------------------------------------ Cyprus Airways must have around CYP60 million to finance its short-term and long-term needs, the Financial Mirror says. Haris Thrasou, minister of Communications and Works, said around CYP30 million would be used to support the carrier's short-term necessities while the remaining half would be used to cover the group's long-term needs. CAIR needs the approval of the European Union to avail state-guaranteed loan. Mr. Thrasou confirmed the recent deal between CAIR and trade unions will cost the carrier around CYP20.5 million, which is below the ministry's original estimate of CYP25 million. Meanwhile, the ministry will review Hellas Jet's financial troubles. Mr. Thrasou did not rule out the possibility of terminating the operations of the CAIR subsidiary. This move, however, would further burden CAIR since a winding-up procedure normally costs CYP10 million to CYP15 million. CONTACT: CYPRUS AIRWAYS LIMITED 21 Alkeou St., P.O. Box 21903 CY-2404 Engomi, Cyprus Phone: +357 22 661 800 Fax: +357 22 663 167 Web site: http://www.cyprusairways.com =========================== C Z E C H R E P U B L I C =========================== ALLIONA: Falls into Liquidation ------------------------------- A regional court has placed Jicin-based diamond-cutting group Alliona into liquidation, Czech News Agency says. The court likewise appointed Leos Materna as Alliona's liquidator. The group's creditors are given until March 22, 2005 to submit their proofs of claims. Owned by South African investors, Alliona sought to set up a CZK500 million diamond-cutting plant in Jicin five years ago. Mr. Materna said the plant could have employed more than 500 people. =========== F R A N C E =========== MARIONNAUD PARFUMERIES: Ordered to Halve Debt in Six Months ----------------------------------------------------------- Troubled perfume retailer Marionnaud Parfumeries has been given six months to repay around half of its debts, Les Echos says. Marrionaud has until June 30, 2005 to repay 47% of its EUR577 million debts and five years to pay up the rest. The court in Creteil has appointed two ad hoc administrators to Marionnaud to manage the group's debt restructuring. Marionnaud's administrators are tasked to renegotiate the group's entire debts with around 40 banks. Europe's second-largest retailer of perfumes and cosmetics has hired two external experts to study the restructuring of its debt. Marionnaud's shares plunged by 31% last week following news of errors in the group's 2004 interim accounts. CONTACT: MARIONNAUD PARFUMERIES S.A. 5 Avenue de Paris 94300 Vincennes 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 ============= ANTON LUDWIG: Court to Review Claims Third Week of February ----------------------------------------------------------- The district court of Cologne opened bankruptcy proceedings against water/heating installation company Anton Ludwig GmbH on Dec. 1, 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. Andreas Ringstmeier. Creditors and other interested parties are encouraged to attend the meeting on Feb. 16, 2005, 9:00 a.m. at the district court of Koln, Hauptstelle, Luxemburger Strasse 101, 50939 Cologne, 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: ANTON LUDWIG GMBH Gebruder-Coblenz-Strasse 1, 50679 Cologne, Herbert Schafer and Toni Schafer, Managers Dr. Andreas Ringstmeier, Insolvency Manager Magnusstr. 13, 50672 Koln Phone: 0221/650 660 Fax: +49221650661 C + U: First Creditors Meeting Set April ---------------------------------------- The district court of Frankfurt opened bankruptcy proceedings against C + U Container und Umweltdienst GmbH on Nov. 23, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until March 2, 2005 to register their claims with court-appointed provisional administrator Manfred Burghardt. Creditors and other interested parties are encouraged to attend the meeting on April 13, 2005, 9:30 a.m. at the district court of Frankfurt, Saal 2, Gebaude F, Klingerstrasse 20, 60313 Frankfurt am Main, 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: C + U CONTAINER UND UMWELTDIENST GMBH Rodheimer Str. 15, 61118 Bad Vilbel Manfred Burghardt, Insolvency Manager Theobald-Christ-Strasse 24, 60316 Frankfurt am Main Phone: 069/94414770 Fax: 069/94414780 ELEKTRO GMBH: Augsburg Court Opens Bankruptcy Proceedings --------------------------------------------------------- The district court of Augsburg opened bankruptcy proceedings against Electro Eschenbach GmbH on Nov. 26, 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. Carlos Mack. Creditors and other interested parties are encouraged to attend the meeting on Feb. 7, 2005, 9:45 a.m. at the district court of Augsburg, Justizgebaude, Sitzungssaal 162, Am Alten Einlass 1, 86150 Augsburg, 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: ELEKTRO ESCHENBACH GMBH Ledergasse 364, 86899 Landsberg Kurt Eschenbach, Manager KANZLEI BRINKMANN & PARTNER Dr. Carlos Mack, Insolvency Manager Brienner Strasse 21, 80333 Munchen FHMS GMBH: Gives Creditors Until March to File Claims ----------------------------------------------------- The district court of Charlottenburg opened bankruptcy proceedings against FHMS GmbH on Dec. 3, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until March 3, 2005 to register their claims with court-appointed provisional administrator Joachim Voight. Creditors and other interested parties are encouraged to attend the meeting on Jan. 25, 2005, 9:25 a.m. at the district court of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock Saal 218 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 May 3, 2005 at the same venue. CONTACT: FHMS GMBH Oranienburger Str. 89, 10178 Berlin Joachim Voigt, Insolvency Manager Rankestrasse 33, 10789 Berlin GLASBAU METZGER: Last Day for Filing of Claims February 18 ---------------------------------------------------------- The district court of Frankfurt opened bankruptcy proceedings against Glasbau Metzger GmbH on Dec. 1, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Feb. 18, 2005 to register their claims with court-appointed provisional administrator Dr. Georg Bernsau. Creditors and other interested parties are encouraged to attend the meeting on March 15, 2005, 11:05 a.m. at the district court of Frankfurt, Saal 2, Gebaude F, Klingerstrasse 20, 60313 Frankfurt am Main, 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: GLASBAU METZGER GMBH Kiesstrasse 38-40, 60486 Frankfurt am Main Dirk Gattschau, Manager Dr. Georg Bernsau, Insolvency Manager Zeilweg 42, D-60439 Frankfurt am Main Phone: 069/963761-130 Fax: 069/963761-145 GOLIM 3 MBH: Provisional Administrator Takes over Helm ------------------------------------------------------ The district court of Dresden opened bankruptcy proceedings against GOLIM 3 Grundstucksgesellschaft mbH & Co.KG on Nov. 26, 2005. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 12, 2005 to register their claims with court-appointed provisional administrator Hannelor Kruger-Knief. Creditors and other interested parties are encouraged to attend the meeting on Feb. 23, 2005, 1:00 p.m. at the district court of Dresden, Saal D131, Olbrichtplatz 1, 01099 Dresden, 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: GOLIM 3 GRUNDSTUCKSGESELLSCHAFT MBH & CO.KG Struvestr. 14 02826 Gorlitz Hannelore Kruger-Knief, Insolvency Manager Konigstrasse 1, 01097 Dresden Web site: http://www.krueger-knief.de HORST HEMPELMANN: Administrator's Report Out February ----------------------------------------------------- The district court of Bielefeld opened bankruptcy proceedings against Horst Hempelmann GmbH & Co. KG on Dec. 7, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 27, 2005 to register their claims with court-appointed provisional administrator Stefan Meyer. Creditors and other interested parties are encouraged to attend the meeting on Feb. 17, 2005, 10:45 a.m. at the district court of Bielefeld, Gerichtstrasse 6, 33602 Bielefeld, 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: HORST HEMPELMANN GMBH & CO. KG Junkersstr. 37 - 41, 32257 Bunde Stefan Meyer, Insolvency Manager Ostertorstr. 7, 32312 Lubbecke INFINEON TECHNOLOGIES: Forms Joint Venture with Parlex ------------------------------------------------------ Parlex Corporation (NASDAQ:PRLX), a world leader in the design and manufacture of flexible interconnects, and Infineon Technologies AG (FSE/NYSE:IFX), a world leader in semiconductor solutions, have agreed to establish a joint venture company to manufacture and sell advanced technology substrates for secure mobile electronic identification products. The joint venture will be headquartered in Hong Kong with manufacturing facilities in China. Under the terms of the agreement, Parlex will have a 51% equity share with Infineon holding the remaining share. Infineon will pay Parlex US$3 million and Parlex will contribute equipment and technology. Parlex Shanghai Circuit Company will also provide certain additional services, which will be paid for by the joint venture. In addition to supplying substrates for the Infineon "Flip Chip on Substrate (FCOS)" program, the joint venture will offer its products to customers worldwide. It is anticipated that this new entity will be operational in April 2005. Peter J. Murphy, President and CEO of Parlex commented: "Combining resources with the recognized market and technology leader for electronic identification products allows us to rapidly introduce a variety of new technologies developed specifically to serve this expanding customer segment. With Infineon as our partner, we are increasing our presence in the smartcard arena while we remain confident that we have the technology to become the world's leading smartcard substrate provider." About Parlex Corporation Parlex Corporation is a world leader in the design and manufacture of flexible interconnect products. Parlex produces custom flexible circuits and laminated cables utilizing proprietary processes and patented technologies, which are designed to satisfy the unique requirements of a wide range of customers. Its manufacturing facilities are located in the United States, China, Mexico and the United Kingdom. For further information, please visit Parlex on the Web at http://www.parlex.com. About Infineon Infineon Technologies AG, Munich, Germany, offers semiconductor and system solutions for the automotive and industrial sectors, for applications in the wired communications markets, secure mobile solutions as well as memory products. With a global presence, Infineon operates in the U.S. from San Jose, CA, in the Asia-Pacific region from Singapore and in Japan from Tokyo. In fiscal year 2004 (ending September), the company achieved sales of EUR7.19 billion with about 35,600 employees worldwide. Infineon is listed on the DAX index of the Frankfurt Stock Exchange and on the New York Stock Exchange (ticker symbol: IFX). Further information is available at http://www.infineon.com. CONTACT: INFINEON TECHNOLOGIES AG St. Martin Str. 53 81669 Munich Phone: +49-89-234-0 Fax: +49-89-234-2-84-82 Web site: http://www.infineon.com PARLEX CORPORATION 1 Parlex Place Methuen, MA 01844 Phone: 978-685-4341 Fax: 978-685-8809 Web site: http://www.parlex.com Peter J. Murphy President & CEO Phone: 978-946-2564 MAHRT KOPIER: Court to Verify Claims Last Week of February ---------------------------------------------------------- The district court of Hamburg opened bankruptcy proceedings against Mahrt Kopier und Service GmbH on Dec. 2, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 28, 2005 to register their claims with court-appointed provisional administrator Karsten Totter. Creditors and other interested parties are encouraged to attend the meeting on Feb. 28, 2005, 9:40 a.m. at the district court of Hamburg, Insolvenzgericht, Weidestrasse 122d, 22083 Hamburg, 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: MAHRT KOPIER UND SERVICE GMBH Kollaustrasse 105, 22453 Hamburg Friedrich Mahrt, Manager Carsten-Meyn-Weg 28, 22399 Hamburg Karsten Totter, Insolvency Manager Speersort 4/6, 20095 Hamburg Phone: 303010 Fax: 30301246 SUSANNES: Court Appoints Provisional Administrator -------------------------------------------------- The district court of Aurich opened bankruptcy proceedings against Susannes Salon und Sonnenstudio GmbH on Dec. 1, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 20, 2005 to register their claims with court-appointed provisional administrator Uwe Kuhmann. Creditors and other interested parties are encouraged to attend the meeting on Feb. 17, 2005, 9:00 a.m. at the district court of Aurich, Schlossplatz 2, 26603 Aurich, 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: SUSANNES SALON UND SONNENSTUDIO GMBH Burgstrasse 11, 26736 Krummhorn Helmuth Friedrich, Manager Heinz-Dieter Krageloh, Manager Uwe Kuhmann, Insolvency Manager Schusselkorb 3, D-28195 Bremen Phone: 0421/330610 Fax: 0421/3306110 VERMIETUNGS: Creditors Meeting Set Second Week of February ---------------------------------------------------------- The district court of Leipzig opened bankruptcy proceedings against rental services company Vermietungs- und Dienstleistungsgesellschaft Breitenfeld mbH on Dec. 6, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 19, 2005 to register their claims with court-appointed provisional administrator Dr. Onno Klopp. Creditors and other interested parties are encouraged to attend the meeting on Feb. 9, 2005, 10:45 a.m. at the district court of Leipzig, 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: VERMIETUNGS- UND DIENSTLEISTUNGSGESELLSCHAFT MBH Bjorneborgstrasse 15, 04158 Leipzig Detlef Carl, Manager Dr. Onno Klopp, Insolvency Manager Rudolph-Sack-Strasse 9, 04229 Leipzig ========= I T A L Y ========= ALITALIA SPA: Long-term Debt Position Stabilizes ------------------------------------------------ Alitalia's medium to long-term debt profile improved slightly in November, reports Reuters. At the end of November, the carrier's medium- and long-term debt dropped to EUR1.541 billion (US$2.10 billion) from EUR1.567 billion (US$2.13 billion) in October. Short-term debt, however, rose to EUR117 million (US$159.2 million) from EUR116 million during that span. Overall, the airline's net financial position fell by EUR25 million (US$34 million) to EUR1.658 billion (US$2.26 billion) in November. An unnamed analyst based in Milan, who talked to Reuters, believes a "stable" debt profile means nothing if the European Commission does not clear Alitalia's restructuring plan. "What we're waiting for now is to see about the planned privatization, and that depends on what is decided in Brussels," the analyst said. CONTACT: ALITALIA S.p.A Viale A. Marchetti 111 00148 Rome, Italy Phone: +39 06 6562 2151 Fax: +39 06 6562 4733 Web site: http://www.alitalia.it PARMALAT FINANZIARIA: Citigroup Seeks Approval to Sue LatAm Arms ---------------------------------------------------------------- U.S. bank Citigroup Inc. has asked bankruptcy judge Robert Drain for permission to sue Parmalat Finanziaria's Latin American units over defaulted loans, Reuters says. Citigroup claims that Parmalat Del Ecuador S.A. and Parmalat Paraguay S.A. have defaulted loans worth US$6.05 million and US$4.8 million respectively. In a motion, the world's largest financial services group told Judge Drain it intends to recover the amount through lawsuits in the units' respective locations. The financial group is seeking relief from a July 2 preliminary injunction, which it said blocks such lawsuits. Citigroup argued the injunction was not intended to protect operating Parmalat subsidiaries that are not covered by any insolvency proceeding. The injunction prevents Parmalat's creditors, including Citibank, from suing the group's subsidiaries and entities. Parmalat's government-appointed administrator, Enrico Bondi, filed for the injunction in June, six months after the dairy giant filed for insolvency in Italy and four months after its U.S. units filed for Chapter 11 bankruptcy protection. Madlyn Gleich Primoff, a partner at Clifford Chance U.S. LLP, said in the motion, "Absent the preliminary injunction, Citibank would not be barred under Italian law or otherwise from commencing proceedings. "The preliminary injunction, as currently in effect, thus provides the foreign debtors with more relief with respect to Parmalat Paraguay and Parmalat Ecuador than they are entitled to under Italian law." Citibank added it was "unfairly prejudiced" by the broad scope of the injunction, which it claims "flies in the face" of U.S. bankruptcy law. The court will hear the motion on January 27, 2005, 10:00 a.m. in New York. Mr. Bondi has sued a number of financial institutions, including Citigroup and Bank of America for allegedly abetting Parmalat's collapse in December 2003. The banks, however, claim they too were victims of fraud. Parmalat has also included auditors Deloitte & Touche and Grant Thornton in the lawsuit. Mr. Bondi has been trying to recover Parmalat's money before launching a debt-for-equity swap, which would pave way for the group's relaunch. CONTACT: PARMALAT FINANZIARIA S.p.A. Legal Seat 43044 Collecchio (Pr) Via Oreste Grassi, 26 Administrative Seat 20122 Milan Piazza Erculea, 9 Phone: +39 02 806 8801 Fax: +39 02 869 3863 Web site: http://www.parmalat.net =================== K Y R G Y Z S T A N =================== AIDAN-PHARMA: Govt Selling 100% Stake for KGS32 Million ------------------------------------------------------- The State Property Fund at the Property Management State Committee of Kyrgyz Republic will sell the government's 100% stake in JSC Aidan-Pharma on January 26, 2005 10:00 a.m. at Bishkek, Moskovskaya Str. 151. The firm is located at Bishkek, East Industrial Zone, Oktabrskaya Str. 250. Starting price is KGS32,231,000. Profile of JSC Aidan-Pharma: (a) Field of activity: pharmaceutics (b) Land area: 4.37 hectares (c) Capital: KGS49,512,500 (d) Losses (2003): KGS15,573,600 (e) Staff: 70 (f) Unpaid bank loans: KGS2,101,900 (g) State loans: KGS169,196,700 (h) Assets: KGS234,287,400 Bidding conditions: (a) Larger price proposal; (b) Completion of construction; (c) Clearing of Aidan-Pharma's liabilities; and (d) Business plan for manufacturing and social development. Participants must submit all necessary documents on or before January 25, 2005, 5:00 p.m. to Bishkek, Moskovskaya Str. 151. The buyer should pay a commission equivalent to 7% of the final price. For more information, call (0-312) 61-10-08 or 21-66-97. KYRGYZKILEM: Public Auction Set January 11 ------------------------------------------ The bidding organizer and insolvency manager of OJSC Kyrgyzkilem will sell its properties on January 11, 2005, 10:00 a.m. at Chui region, Kara-Balta, Toliati Str. 2. For sale are 20 lots of weaving equipment, office equipment, technical equipment, weaving workshops, interior and high-wear spare parts. To participate, bidders must deposit an amount equivalent to 10% of the starting price to the cashier of OJSC Kyrgyzkilem. Participants have until January 10, 2005 to submit bidding documents to the temporary insolvency manager. For more information, call (0-502) 57-85-50 or 35-23-35. KYRGYZSERVICECONTRACT: Last Day for Filing of Bids January 10 ------------------------------------------------------------- The bidding organizer and insolvency manager of JSC Kyrgyzservicecontract will sell its properties on January 11, 2005, 10:00 a.m. The public auction will take place at Bishkek, L. Tolstogo Str. 210. For sale are three lots of buildings and shops. To participate, bidders must deposit an amount equivalent to 10% of the starting price to the cashier of JSC Kyrgyzservicecontract. Participants have until January 10, 2005 to submit bidding documents to the temporary insolvency manager. For more information, call (0-312) 64-82-51. NORTH ZONE: To Hold Public Auction Next Week -------------------------------------------- The bidding organizer and insolvency manager of Direction for Technical Development of the Customs Infrastructure by North Zone is selling its properties on January 6, 2005, 11:00 a.m. The public auction will take place at Bishkek, Ahunbaev Str. 119-a, Room 441. For sale are seven lots of machines, warehouses and mills. The starting price ranges from KGS27,000 to KGS118,000 To participate, bidders must deposit an amount equivalent to 20% of the starting price to the company cashier. Participants have until January 5, 2005 to submit bidding documents to the temporary insolvency manager. For more information, call (0-312) 42-85-66. PANORAMA: Expects to Raise KGS8 Mln from Sale of Building --------------------------------------------------------- The subdivision service officer of the Pervomaisk Regional Court set the public auction of LLC Panorama's properties on January 4, 2005 at 9:00 a.m. at Bishkek, Frunze Str. 368. For sale is a two-story building occupying a total area of 749.9 sq. m. Starting price is KGS8,647,770.6. CONTACT: Mr. B. Jakybaliev Phone: (0-312) 66-02-42 TESGUN: Under Bankruptcy Supervision ------------------------------------ The Bishkek Inter District Court commenced bankruptcy supervision procedure on LLC TESGUN on November 25, 2004. The case is docketed as 03-601/m-04c5. Mr. Zamirbek Toksonaliev (License Number 0335) has been appointed temporary insolvency manager since December 15, 2004. Creditors will meet on January 21, 2005, 10:00 a.m. Creditors must submit their proofs of claim and register with the temporary insolvency manager seven days prior to the meeting. Proxies must have authorization to vote. CONTACT: Mr. Zamirbek Toksonaliev Phone: (0-312) 62-06-41 =========== N O R W A Y =========== AKER KVAERNER: Acquires Ellayess from Kvaerner ---------------------------------------------- Ellayess, one of the world's largest specialized recruitment agencies will be sold from Kvaerner to Aker Kvaerner. Providing high quality engineering professionals on temporary and project assignments, Ellayess will add valuable flexibility to Aker Kvaerner and allow the group to adjust its cost base more easily and quickly when markets change. As part of Kvaerner and under Kvaerner management, Ellayess has grown to become a leading provider of contract personnel to a wide range of industries. The merger of Kvaerner's Lawrence Allison and the former Aker Maritime's Aker International Resource groups in 2003 was an important milestone in its restructuring. Operating from ten recruitment centres around the world, Ellayess has around one hundred thousand engineering professionals in its files. The company's operating revenues in the first nine months this year was NOK827 million. Earnings before interest, tax and amortization (EBITA) were NOK23 million in that same period. EBITA for 2003 and 2002 was NOK20 and NOK19 million respectively. For Aker Kvaerner reduction of fixed costs is a key priority. Access to temporary personnel with the right competencies at the right time is important to meet this objective. The purchase of the Ellayess group fits in well with this strategy. This year, Aker Kvaerner hires around one thousand specialists from Ellayess, up from around 700 on average last year. The sale of the Ellayess group to Aker Kvaerner is entirely in line with Kvaerner's declared strategy. The Ellayess group has been restructured and streamlined, and values have been created and unlocked for Kvaerner shareholders. In the transaction, the agreed enterprise value of Ellayess is NOK284 million. The transaction is settled with effect from 31 December 2004 as part of the post-restructuring pro and contra agreement between Kvaerner and Aker Kvaerner. In accounting terms, the transaction will leave Kvaerner with an estimated gain of NOK112 million in the group accounts for the fourth quarter 2004. A small part of the Ellayess group operating in the United States will not be part of the agreement. Pro forma historical financial details about the companies in the transaction as well as for Kvaerner after the transaction are currently being prepared and will be made available by Kvaerner to the financial markets early in 2005. AKER KVAERNER ASA, through its subsidiaries and affiliates, is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner span a number of industries, including Oil & Gas production, Refining & Chemicals, Mining & Metals, Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. Aker Kvaerner has aggregated annual revenues of approximately US$4.5 billion and employs around 21,000 employees in more than 30 countries. The Aker Kvaerner group consists of a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities. The parent company in the group is Aker Kvaerner ASA. CONTACT: AKER KVAERNER ASA Torbjorn S. Andersen Senior Vice President, Group Communications Phone: +47 67 51 30 36 Mobile: +47 928 85 542 =========== R U S S I A =========== AMURSK-KAP-STROY: Declared Insolvent ------------------------------------ The Arbitration Court of Khabarovsk region commenced bankruptcy proceedings against Amursk-Kap-Stroy after finding the close joint stock company insolvent. The case is docketed as A73- 2504/2004-36. Mr. A. Lishay has been appointed insolvency manager. Creditors may submit their proofs of claim to 680023, Russia, Khabarovsk-23, Post User Box 101/5. CONTACT: AMURSK-KAP-STROY 682940, Russia, Khabarovsk region, Amursk, Mira Pr. 21 Mr. A. Lishay Insolvency Manager 680023, Russia, Khabarovsk-23, Post User Box 101/5 ARZAMAS-STROY-MECHANIZATION: Insolvency Manager Takes over Helm --------------------------------------------------------------- The Arbitration Court of Nizhniy Novgorod region commenced bankruptcy proceedings against Arzamas-Stroy-Mechanization after finding the open joint stock company insolvent. The case is docketed as A43-6768/04-33-148. Ms. Y. Gerasimova has been appointed insolvency manager. Creditors may submit their proofs of claim to 603155, Russia, Nizhniy Novgorod, Trudovaya Str., 8- 37. CONTACT: ARZAMAS-STROY-MECHANIZATION Russia, Nizhniy Novgorod region, Arzamas, Kalinina Str. 60 Ms. Y. Gerasimova Insolvency Manager 603155, Russia, Nizhniy Novgorod, Trudovaya Str. 8-37 AVTOMOBILIST: Sverdlovsk Court Opens Bankruptcy Proceedings ----------------------------------------------------------- The Arbitration Court of Sverdlovsk region commenced bankruptcy proceedings against Avtomobilist after finding the close joint stock company insolvent. The case is docketed as A60-26329/04- S2. Mr. S. Semenov has been appointed insolvency manager. Creditors may submit their proofs of claim to 620062, Russia, Ekaterinburg, Post User Box 185. CONTACT: AVTOMOBILIST Russia, Sverdlovsk region, Talitsa, Kosmonavtov Str. 2g Mr. S. Semenov Insolvency Manager 620062, Russia, Ekaterinburg, Post User Box 185 DOCK YARD: Appoints Y. Dolin Insolvency Manager ----------------------------------------------- The Arbitration Court of Sakhalin region commenced bankruptcy proceedings against Dock Yard Service (TIN 6504040941) after finding the open joint stock company insolvent. The case is docketed as A59-2142/02-S9. Mr. Y. Dolin has been appointed insolvency manager. Creditors may submit their proofs of claim to 693000, Russia, Yuzhno-Sakhalinsk, Khabarovskaya Str. 17, Office 15. CONTACT: DOCK YARD SERVICE 694000, Russia, Sakhalin region, Korsakov, Reydovyj Per. 14 Mr. Y. Dolin Insolvency Manager 693000, Russia, Yuzhno-Sakhalinsk, Khabarovskaya Str. 17, Office 15 GOR-PISHE-COMBINE: Declared Insolvent ------------------------------------- The Arbitration Court of Tatarstan republic commenced bankruptcy proceedings against Gor-Pishe-Combine after finding the open joint stock company insolvent. The case is docketed as A65- 7829/2004-SG4-21. Mr. Sh. Khaertdiov has been appointed insolvency manager. Creditors have until Jan. 26, 2005 to submit their proofs of claim to 420049, Russia, Tatarstan republic, Kazan, Post User Box 8. CONTACT: GOR-PISHE-COMBINE Russia, Tatarstan republic, Nab. Chelny, Promkomzona, 2a Mr. Sh. Khaertdiov Insolvency Manager 420049, Russia, Tatarstan republic, Kazan, Post User Box 8 INVESTMENT-FINANCIAL CORPORATION: Under Bankruptcy Supervision -------------------------------------------------------------- The Arbitration Court of Tatarstan republic has commenced bankruptcy supervision procedure on close joint stock company Investment-Financial Corporation of Tatarstan Republic. The case is docketed as A65-10619/2004-SG4-35. Mr. G. Okriashvili has been appointed temporary insolvency manager. Creditors have until Jan. 26, 2005 to submit their proofs of claim to 420061, Russia, Tatarstan republic, Kazan, Post User Box 39. A hearing will take place on April 25, 2005, 1:00 a.m. CONTACT: INVESTMENT-FINANCIAL CORPORATION OF TATARSTAN REPUBLIC Russia, Tatarstan republic, Kazan Mr. G. Okriashvili Temporary Insolvency Manager 420061, Russia, Tatarstan republic, Kazan, Post User Box 39 KAMYSHESKIY: Declared Insolvent ------------------------------- The Arbitration Court of Volgograd region commenced bankruptcy proceedings against Kamysheskiy (TIN 3410000169, KPP 341001001) after finding the tinned food factory insolvent. The case is docketed as A12-2282/04-s58. Mr. S. Sadykov has been appointed insolvency manager. Creditors may submit their proofs of claim to 400112, Russia, Volgograd, Ostravskaya Str. 18-26. CONTACT: KAMYSHESKIY Russia, Volgograd region, Kamyshin, Khvalynskaya Str. 17 Mr. S. Sadykov Insolvency Manager 400112, Russia, Volgograd, Ostravskaya Str. 18-26 MELIORATION: Tatarstan Court Appoints Insolvency Manager -------------------------------------------------------- The Arbitration Court of Tatarstan republic commenced bankruptcy proceedings against Melioration after finding the company insolvent. The case is docketed as A65-7729/2004-SG4-21. Mr. R. Ibragimov has been appointed insolvency manager. Creditors have until Jan. 26, 2005 to submit their proofs of claim to 422540, Russia, Tatarstan republic, Zalenodolsk, Frunze Str. 9. CONTACT: MELIORATION 422270, Russia, Tatarstan republic, Pestrechenskiy region, Pestretsy, Osipova Str. 60 Mr. R. Ibragimov Insolvency Manager 422540, Russia, Tatarstan republic, Zalenodolsk, Frunze Str. 9 MINE SINEGORSKAYA: Succumbs to Insolvency ----------------------------------------- The Arbitration Court of Sakhalin region commenced bankruptcy proceedings against Mine Sinegorskaya (TIN 650194770) after finding the limited liability company insolvent. The case is docketed as A59-1494/03-S9. Mr. Y. Dolin has been appointed insolvency manager. Creditors may submit their proofs of claim to: (a) Mine Sinegorskaya Russia, Sakhalin region, Yuzhno-Sakhalinsk, Sinegorsk, Kommunisticheskaya Str. 16 (b) Insolvency Manager 693000, Russia, Yuzhno-Sakhalinsk, Khabarovskaya Str. 17, Office 15 SHABALINSKOYE KHPP: Gives Creditors Until January to File Claims ---------------------------------------------------------------- The Arbitration Court of Kirov region commenced bankruptcy proceedings against Shabalinskoye Khpp after finding the bread receiving company insolvent. The case is docketed as A28-86/04- 47/20. Mr. A. Gribanov has been appointed insolvency manager. Creditors have until Jan. 26, 2005 to submit their proofs of claim to 610014, Russia, Kirov, Potrebkooperatsii Str. 6. CONTACT: SHABALINSKOYE KHPP Russia, Kirov region, Shabalinskiy region Mr. A. Gribanov Insolvency Manager 610014, Russia, Kirov, Potrebkooperatsii Str. 6 YUKOS OIL: Credit Rating Slips Further to 'D' --------------------------------------------- Standard & Poor's Ratings Services lowered its long-term corporate credit and senior secured bank loan ratings on Russian oil company OAO NK Yukos to 'D' from 'CC'. At the same time, the ratings were removed from CreditWatch, where they had been place on Oct. 31, 2003. "The downgrade reflects Yukos' default on its Dec. 27, 2004, interest payment, said Standard & Poor's credit analyst Elena Anankina. The missed payment follows the company's bankruptcy filing in the U.S. and a decision by a U.S. court to impose a temporary restraining order to prevent the auction of Yuganskneftegas, Yukos' core operating subsidiary. Although events of default had been announced previously on both Yukos' US$1 billion syndicated bank facility and its US$1.6 billion loan from core shareholders, the default notices had merely enabled the company's creditors to enforce the security package. "Until recently, Yukos had continued payments on its debt. The missed interest payment on Dec. 27, 2004, however, constitutes a default under Standard & Poor's criteria," explained Ms. Anankina. Standard & Poor's will continue to analyze any potential implications of the Yukos affair for the Russian corporate sector. Ratings information is available to subscribers of RatingsDirect, Standard & Poor's Web-based credit analysis system, at http://www.ratingsdirect.com. It can also be found on Standard & Poor's public Web site at http://www.standardandpoors.com. Alternatively, call one of the following Standard & Poor's numbers: London Ratings Desk (44) 20-7176-7400; London Press Office Hotline (44) 20-7176-3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46) 8-440-5916; or Moscow (7) 095-783-4017. Members of the media may also contact the European Press Office via e-mail on media_europe@standardandpoors.com. CONTACT: STANDARD AND POOR'S RATING SERVICES Group E-mail Addresses CorporateFinanceEurope@standardandpoors.com =========== S W E D E N =========== LM ERICSSON: World's Tallest Building to Use Ericsson Technology ---------------------------------------------------------------- Ericsson has been selected by Chunghwa Telecom to provide indoor coverage to the world's tallest building, Taipei 101. Ericsson's in-building solutions will enable Taipei 101 visitors to enjoy high-quality, seamless coverage, across 2G and 3G networks for both GSM/WCDMA and CDMA. The world's tallest building, Taipei Financial Center, also called Taipei 101, will be inaugurated at the end of December. This new architectural landmark not only breaks the record of height, but also sets the standard of communications quality in skyscrapers. At 106 floors, reaching 508 meters, the skyscraper contains one of the world's most comprehensive in-building solution system ever built. The system incorporates different network technologies on different frequency bands, including GSM900, GSM1800, CDMA800, CDMA2000 and WCDMA in a common antenna system. State-of-the-art technology is deployed to ensure seamless coverage in the world's fastest elevators, traveling at a speed up to 1,000 meters per minute. Clear vision and planning by Chunghwa Telecom right from the beginning, intensive working with construction partners, and Ericsson's leading in-building solutions and rich rollout experience are all contributing to the success of the project. It is clearly that Taipei 101 has set a new standard for communications quality in skyscrapers. "We are thrilled to partner with Chunghwa Telecom and to provide Ericsson's world leading in-building solutions for the prestigious project of Taipei 101," said Mats Bosrup, President of Ericsson Taiwan. "We are very proud to facilitate the building with seamless and high-quality in-building communications capabilities. Taipei 101 is a landmark for Taiwan and also a landmark for wireless in building solutions." Ericsson provides a complete range of global leading in-building communications solutions, with end-to-end solution design, deployment and integration services. Ericsson has deployed more than 7,000 in-building solutions in office buildings, airports, shopping complexes, grand theaters and high-rise buildings worldwide. Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world. CONTACT: LM ERICSSON Peter Olofsson Ericsson Group Function Communications Phone: +46 702673445, +46 8 7191880 E-mail: press.relations@ericsson.com Web site: http://www.ericsson.com ============= U K R A I N E ============= CONCERN UKRTARA: Under Bankruptcy Supervision --------------------------------------------- The Economic Court of Kyiv region commenced bankruptcy supervision procedure on Ukrainian State Production-Commercial Enterprise Concern Ukrtara (code EDRPOU 21539080) on November 12, 2004. The case is docketed as 23/487-46/678-b. Mr. German Astanin (License Number AA 782331) has been appointed temporary insolvency manager. The company holds account number 26007049201 at JSC Industrial-Financial Bank, Kyiv region branch, MFO 320906. Creditors may submit their proofs of claim to: (a) Mr. German Astanin Temporary Insolvency Manager Ukraine, Kyiv region, Klovskij Uzviz Str. 12/52 (b) ECONOMIC COURT OF KYIV REGION 01030, Ukraine, Kyiv region, B. Hmelnitskij Boulevard, 44-B KONOTOPSKIJ PRODPOSTACH: Sumi Court Opens Bankruptcy Proceedings ---------------------------------------------------------------- The Economic Court of Sumi region commenced bankruptcy proceedings against Konotopskij Prodpostach on August 17, 2004 after finding the limited liability company insolvent. Creditors may submit their proofs of claim to: (a) KONOTOPSKIJ PRODPOSTACH Ukraine, Sumi region, Konotop, Sumska Str. 12 (b) Liquidator 41800, Sumi region, Bilopillya, K. Libkneht Str. 43 (c) ECONOMIC COURT OF SUMI REGION Ukraine, Sumi region, Ribalko Str. 2 LISOVE: Declared Insolvent -------------------------- The Economic Court of Sumi region has commenced bankruptcy proceedings against Lisove after finding the limited liability company insolvent. Creditors may submit their proofs of claim to: (a) LISOVE Ukraine, Sumi region, Gluhiv district, Ivashenkove (b) Liquidator 41800, Sumi region, Bilopillya, K. Libkneht Str. 43 (c) ECONOMIC COURT OF SUMI REGION Ukraine, Sumi region, Ribalko Str. 2 PETROVSKE: Succumbs to Insolvency --------------------------------- The Economic Court of Sumi region has commenced bankruptcy proceedings against Petrovskeon after finding the limited liability company insolvent. Creditors may submit their proofs of claim to: (a) PETROVSVE Ukraine, Sumi region, Gluhiv district, Ivashenkove (b) Liquidator 41800, Sumi region, Bilopillya, K. Libkneht Str. 43 (c) ECONOMIC COURT OF SUMI REGION Ukraine, Sumi region, Ribalko Str. 2 SLOBODA: Files for Bankruptcy ----------------------------- The Economic Court of Sumi region commenced bankruptcy proceedings against Sloboda on August 31, 2004 after finding the limited liability company insolvent. Creditors may submit their proofs of claim to: (a) SLOBODA Ukraine, Sumi region, Bilopilskij district, Tuchne, Centralna Str. 1 (b) Liquidator 41800, Sumi region, Bilopillya, K. Libkneht Str. 43 (c) ECONOMIC COURT OF SUMI REGION Ukraine, Sumi region, Ribalko Str. 2 =========================== U N I T E D K I N G D O M =========================== AFFORDABLE LAND: Lord Newbold, Other Execs Banned for 22 Years -------------------------------------------------------------- The directors of two travel businesses that failed with total debts estimated at around GBP1.6 million have given Undertakings not to hold directorships or take any part in company management for a total of 22 years. The Undertakings by Edward James Newbold, also known as Lord Newbold of Taunton (E. Newbold), 29, of Newton Road, Torquay and by David Robert Newbold (D. Newbold), 64, of Loose Road, Maidstone, Kent were given Undertakings in respect of their conduct as directors of Affordable Land Limited (Land) and Affordable Travel Limited (Travel) which carried out business from premises at Romney Court, Romney Place, Maidstone, Kent, ME15 6LG and Colman Parade, King Street, Maidstone, Kent, ME14 1DJ. Donald Joseph Troeger (D. Troeger), 39, of Ashborne Close, Kennington, Ashford, Kent also accepted an Undertaking in respect of his conduct as director of Affordable Land Limited. Acceptance of Undertakings on December 17, 2004 prevents E. Newbold 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 11 years and D. Troeger for seven and a half years. Acceptance of an Undertaking on November 26, 2004 bars D. Newbold for three and a half years. Land was placed into voluntary liquidation on April 17, 2003 with estimated debts of GBP456,000 owed to creditors. Travel was placed into voluntary liquidation on 16 April 2003 with estimated debts of GBP1.2M 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. The matters of unfit conduct, not disputed by E. Newbold and D. Newbold regarding Land was that they caused and allowed the company to falsely represent that monies paid to it would be protected in a Client Trust account and/or failed to ensure that customers' monies were paid into a Trust account in accordance with Land's promotional literature and terms and conditions. Matters of unfit conduct, not disputed by E. Newbold and D. Newbold regarding Travel were that: (a) while insolvent, they caused, or allowed transactions to take place that were not in the company's or its creditors' best interests. These transactions were for a Christmas party and Aircraft charter that cost a total of GBP51,866; (b) they sold assets without disclosing finance attached to them and/or without the approval of those lenders. Barclays Asset Finance state they were owed GBP34,445 in respect of sundry assets owned by them, some of which were sold shortly before Travel went into liquidation; and (c) failed to maintain loans as required by ABTA. The matter of unfit conduct, not disputed by D. Troeger, regarding Land was that he failed to ensure that customers' monies were paid into a Trust account in accordance with Land's promotional literature and terms and conditions. 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 BKSOFT LIMITED: Claims Period Ends Third Week of January -------------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF BKSoft Limited (In Voluntary Liquidation) Notice is hereby given that at an Extraordinary General Meeting of the Members of BKSoft Limited held on December 17, 2004 these special resolution were unanimously adopted: (a) That BKSoft Limited be placed into liquidation; and (b) That Mrs. M. K. Bennetts of Nerine House, St George's Place, St. Peter Port, Guernsey be appointed as Liquidator. All persons having claims against the Company are required to submit details thereof to the Liquidator before the January 17, 2005 and all persons indebted to the company are required to settle with the Liquidator by the same date. CONTACT: M. K. BENNETTS, Liquidator Nerine House St. George's Place St. Peter Port Guernsey BRITISH ENERGY: Applies for Registration as Private Limited Co. --------------------------------------------------------------- In a petition presented to the Court of Session at the instance of British Energy Plc, a company incorporated under the Companies Acts and having its registered office at 3 Redwood Crescent, Peel Park, East Kilbride for sanction of scheme of arrangement (Members' Scheme) dated November 29, 2004, under section 425 of the Companies Act 1985 between the Company and holders of Scheme Shares, as defined in the Members' Scheme, confirmation of reductions of capital and re-registration of the Company as a private limited company, the following Interlocutor was pronounced by Lord Reed on December 23, 2004: "The Vacation Judge having considered the petition and reports lodged, appoints the Petitioner to give notice of the dependence of the Petition by advertisement once in the Edinburgh Gazette and once in each of the Scotsman, the Financial Times (U.K. and International Editions) and the New York Times newspapers; appoints all parties claiming an interest to lodge Answers to the petition, if so advised, within 14 days of such advertisement." Of which intimation is hereby given. Any person claiming an interest may lodge answers to the Petition at the Office of Court, Court of Session, 2 Parliament Square, Edinburgh EH1 1RQ, Scotland not later than January 11, 2005. CONTACT: BRITISH ENERGY PLC 3 Redwood Crescent Peel Park East Kilbride G74 5PR Phone: +44 (0) 1355 262 000 Web site: http://www.british-energy.com MACROBERTS SOLICITORS Excel House 30 Semple Street Edinburgh EH3 8BL BRITISH ENERGY: Court Awaits Comments to Creditors' Scheme ---------------------------------------------------------- In a petition presented to the Court of Session at the instance of British Energy Plc, a company incorporated under the Companies Acts and having its registered office at 3 Redwood Crescent, Peel Park, East Kilbride for sanction of scheme of arrangement (Creditors' Scheme) dated November 29, 2004, under section 425 of the Companies Act 1985 between the Company and Scheme Creditors, as defined in the Creditors' Scheme, the following Interlocutor was pronounced by Lord Reed on December 23, 2004: "The Vacation Judge having considered the petition and reports lodged, appoints the Petitioner to give notice of the dependence of the Petition by advertisement once in the Edinburgh Gazette and once in each of the Scotsman, the Financial Times (U.K. and International Editions) and the New York Times newspapers; appoints all parties claiming an interest to lodge Answers to the petition, if so advised, within 14 days of such advertisement." Of which intimation is hereby given. Any person claiming an interest may lodge answers to the Petition at the Office of Court, Court of Session, 2 Parliament Square, Edinburgh EH1 1RQ, Scotland not later than January 11, 2005. CONTACT: BRITISH ENERGY PLC 3 Redwood Crescent Peel Park East Kilbride G74 5PR Phone: +44 (0) 1355 262 000 Web site: http://www.british-energy.com MACROBERTS SOLICITORS Excel House 30 Semple Street Edinburgh EH3 8BL BRITISH NUCLEAR: Sale May Take Place After General Elections ------------------------------------------------------------ British Nuclear Fuels Ltd. could be sold or broken up after the next general election, The Telegraph reported early this week. Citing unnamed sources, the paper said the Department of Trade & Industry has already drawn up a range of options, which include selling the company in whole or in part. One attractive piece is Westinghouse, a profitable U.S. subsidiary. Selling the company has become easier now that some of its units will be transferred to the new state-financed Nuclear Decommissioning Authority. Included in this transfer is the controversial Sellafield nuclear power complex, and 10 other small Magnox power stations. "The move takes billions of pounds of liabilities off BNFL's balance sheet, making the business much more attractive to potential buyers," said The Telegraph, which identified Amec, U.S. group Halliburton and French nuclear group Areva as possible bidders. Sellafield is where the company processes spent nuclear fuel. It has been the subject of much controversy because of accidental discharges and alleged deliberate discharges of radioactive material into the Irish Sea, according to http://en.wikipendia.org. Barring a change in the law, the next general election in the United Kingdom must be held some time before June 30, 2006. CONTACT: BRITISH NUCLEAR FUELS PLC 1100 Daresbury Park Warrington WA4 4GB, United Kingdom Phone: +44-1925-832-000 Fax: +44-1925-822-711 Web site: http://www.bnfl.com WESTINGHOUSE ELECTRIC COMPANY LLC 4350 Northern Pike Monroeville, PA 15146-2886 (Map) Phone: 412-374-4111 Fax: 412-374-3272 Web site: http://www.westinghousenuclear.com DEPARTMENT OF TRADE AND INDUSTRY 1 Victoria Street London SW1H OET E-mail: dti.enquiries@dti.gsi.gov.uk Web site: http://www.dti.gov.uk C & R MAINTENANCE: Names Begbies Traynor Liquidator --------------------------------------------------- At the extraordinary general meeting of the members of C & R Maintenance Limited on Dec. 8, 2004 held at Regus, 68 Lombard Street, London EC3V 9LJ, the extraordinary and ordinary resolutions to wind up the company were passed. Vivian Murray Bairstow and Paul Michael Davis of Begbies Traynor (South) LLP, 32 Cornhill, London EC3V 3BT have been appointed joint liquidators of the company. CONTACT: BEGBIES TRAYNOR (SOUTH) LLP 32 Cornhill, London EC3V 3BT Phone: 020 7398 3800 Fax: 020 7398 3799 Web site: http://www.begbies.com CUTTING EDGE: Members Decide to Dissolve Company ------------------------------------------------ At the extraordinary general meeting of Cutting Edge Effects Limited on Dec. 2, 2004 held at Sterlings Limited, Lawford House, Albert Place, London N3 1QA, the subjoined extraordinary resolution to wind up the company was passed. Jamie Taylor and Lloyd Biscoe of Begbies Traynor, The Old Exchange, 234 Southchurch Road, Southend-on-Sea, Essex SS1 2EG have been appointed joint liquidators of the company. CONTACT: BEGBIES TRAYNOR The Old Exchange, 234 Southchurch Road Southend-on-Sea SS1 2EG Phone: 01702 467255 Fax: 01702 467201 E-mail: southend@begbies-traynor.com Web site: http://www.begbies.com EBC CONTRACTS: Director Barred from Occupying Management Post ------------------------------------------------------------- A director of a business that specialized in the erection of roof covering and frames, which failed with total debts estimated at GBP58,000, has given an Undertaking not to hold directorships or take any part in company management for four- and-a-half years. The Undertaking by Michael Anthony McEvoy, 37, of Fairlop Gardens, Hainault, Ilford, Essex, was given in respect of his conduct as director of EBC Contracts Limited, which carried out business from premises at 82 Swans Hope, Loughton, Essex IG10 2NB. Acceptance of the Undertaking on December 14, 2004 prevents Mr. McEvoy 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 that period. EBC Contracts Limited was placed into compulsory liquidation by Order of the High Court on March 26, 2003, on the petition of HM Customs & Excise, for unpaid VAT. The company has an estimated total deficiency of GBP58,000. The Official Receiver at London conducted 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 unfit to be involved in the management of companies in the future Matters of unfit conduct, not disputed by Mr. McEvoy, were that: (a) he caused EBC to trade to the detriment of HM Customs and Excise and Inland Revenue for the period April 2001 to February 2003; and (b) he also failed to maintain and deliver proper accounting records and has therefore hampered the enquiries of the Deputy Official Receiver into the company's affairs. 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 EDUCATIONAL PRODUCTS: Calls in Liquidator ----------------------------------------- At the extraordinary general meeting of Educational Products Limited (formerly Polydron International Limited) on Dec. 7, 2004 held at 77 Shrivenham Hundred Business Park, Majors Road, Watchfield, Swindon SN6 8TY, the extraordinary and ordinary resolutions to wind up the company were passed. Patrick Bernard Harrington has been appointed liquidator of the company. ENJAY REPROGRAPHICS: Opts for Liquidation ----------------------------------------- At the extraordinary general meeting of the members of Enjay Reprographics Limited on Dec. 7, 2004 held at The Grosvenor Room, Holiday Inn Heathrow, the extraordinary and ordinary resolutions to wind up the company were passed. Peter John Bridger has been appointed liquidator of the company. EPMB (UK): Appoints David Exell Associates Liquidator ----------------------------------------------------- At the extraordinary general meeting of the members of EPMB (UK) Limited on Dec. 19, 2004 held at Elta House, Birmingham Road, Stratford-upon-Avon, Warwickshire CV37 0AQ, the extraordinary and ordinary resolutions to wind up the company were passed. David Exell of David Exell Associates, P.O. Box 1601, Broad Street, Wrington, Bristol BS40 5WA has been appointed liquidator of the company. FAB-TECH GATES: Hires Joint Liquidators from BRI Business --------------------------------------------------------- At the extraordinary general meeting of the members of Fab-Tech Gates & Furniture Ltd. on Dec. 9, 2004 held at 3 The Quadrant, Coventry CV1 2DY, the extraordinary resolution to wind up the company was passed. Gavin Geoffrey Bates and Peter John Windatt of BRI Business Recovery and Insolvency, 100-102 St James Road, Northampton NN5 5LF have been appointed joint liquidators of the company. CONTACT: BRI BUSINESS RECOVERY AND INSOLVENCY 100-102 St James Road, Northampton NN5 5LF FOULSHAW PROPERTY: Members Final Meeting Set January ---------------------------------------------------- The final meeting of the members of Foulshaw Property Limited will be on Jan. 27, 2005 commencing at 10:00 a.m. It will be held at 72 London Road, St Albans, Hertfordshire AL1 1NS. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. HAIR WORKS: Hires Joint Liquidators from Numerica ------------------------------------------------- At the extraordinary general meeting of Hair Works Limited on Dec. 9, 2004 held at Crown House, 37-41 Prince Street, Bristol BS1 4PS, the extraordinary and ordinary resolutions to wind up the company were passed. Graham David Randall and Mark Peter Roach of Numerica LLP have been appointed joint liquidators of the company. HAMBALT SERVICES: Liquidator's Final Report Out January 21 ---------------------------------------------------------- The final meeting of the members of Hambalt Services Limited will be on Jan. 21, 2005 commencing at 10:30 a.m. It will be held at the offices of Leonard Curtis & Co, One Great Cumberland Place, Marble Arch, London W1H 7LW. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. CONTACT: LEONARD CURTIS & CO One Great Cumberland Place, Marble Arch, London W1H 7LW Phone: 020 7535 7000 Fax: 020 7723 6059 E-mail: solutions@leonardcurtis.co.uk Web site: http://www.leonardcurtis.co.uk HAWKBRIDGE LIMITED: Names Portland Business Liquidator ------------------------------------------------------ At the extraordinary general meeting of the members of Hawkbridge Limited on Dec. 2, 2004 held at 1640 Parkway, Solent Business Park, Whiteley, Fareham PO15 7AH, the extraordinary and ordinary resolutions to wind up the company were passed. Peter Robin Bacon and Carl Derek Faulds of Portland Business & Financial Solutions Ltd, 1640 Parkway, Solent Business Park, Whiteley, Fareham PO15 7AH have been appointed joint liquidators of the company. CONTACT: PORTLAND BUSINESS & FINANCIAL SOLUTIONS LTD. 1640 Parkway, Solent Business Park, Whiteley, Fareham PO15 7AH H & D TRANSPORT: Begbies Traynor Liquidator Enters Firm ------------------------------------------------------- At the extraordinary general meeting of the members of H & D Transport Services Limited on Dec. 7, 2004 held at 1 Winckley Court, Chapel Street, Preston PR1 8BU, the extraordinary and ordinary resolutions to wind up the company were passed. Gordon Craig of Begbies Traynor, 1 Winckley Court, Chapel Street, Preston, Lancashire PR1 8BU has been appointed liquidator of the company. CONTACT: BEGBIES TRAYNOR 1 Winckley Court Chapel Street Preston PR1 8BU Phone: 01772 202000 Fax: 01772 200099 E-mail: preston@begbies-traynor.com Web site: http://www.begbies.com HOLISTEK LIMITED: Appoints Liquidator from Pridie Brewster ---------------------------------------------------------- At the extraordinary general meeting of Holistek Limited on Dec. 9, 2004 held at 29-31 Greville Street, London EC1N 8RB, the extraordinary resolution to wind up the company was passed. Hasan Imam Mirza of Pridie Brewster, Carolyn House, 29-31 Greville Street, London EC1N 8RB has been appointed liquidator of the company. CONTACT: PRIDIE BREWSTER Carolyn House 29-31 Greville Street, Phone: 020 7831 8821 Fax: 020 7404 3069 E-mail: london@pridie-brewster.com Web site: http://www.pridie-brewster.com HOLLY PARK: Files for Liquidation --------------------------------- At the extraordinary general meeting of Holly Park Mechanical Services Limited on Dec. 9, 2004, the extraordinary resolution to wind up the company was passed. T. C. E. Harrison of Tom Harrison Insolvency Services, Concourse House, 432 Dewsbury Road, Leeds LS11 7DF has been appointed liquidator of the company. CONTACT: TOM HARRISON INSOLVENCY SERVICES Concourse House, 432 Dewsbury Road, Leeds LS11 7DF HOSTDENE LIMITED: Hires Tenon Recovery Liquidators -------------------------------------------------- At the extraordinary general meeting of the members of Hostdene Limited on Nov. 30, 2004 held at Highfield Court, Tollgate, Chandlers Ford, Eastleigh, Hampshire SO53 3TZ, the extraordinary and ordinary resolutions to wind up the company were passed. Nigel Ian Fox and Carl Stuart Jackson of Tenon Recovery, Highfield Court, Tollgate, Chandlers Ford, Eastleigh, Hampshire SO53 3TZ have been appointed joint liquidators of the company. CONTACT: TENON RECOVERY Highfield Court, Tollgate, Chandlers Ford, Eastleigh, Hampshire SO53 3TZ Phone: 023 8064 6464 Fax: 023 8064 6666 E-mail: southampton@tenongroup.com Web site: http://www.tenongroup.com ICON CERAMICS: Owners Decide to Liquidate Company ------------------------------------------------- At the extraordinary general meeting of the members of Icon Ceramics Limited on Dec. 8, 2004 held at Bridgestones, 125-127 Union Street, Oldham OL1 1TE, the extraordinary resolution to wind up the company was passed. Robert Cooksey of Bridgestones, 125-127 Union Street, Oldham OL1 1TE has been appointed liquidator of the company. CONTACT: BRIDGESTONES 125-127 Union Street, Oldham OL1 1TE LIS CONSTRUCTION: Liquidator from Thorntonrones Moves in -------------------------------------------------------- At the extraordinary general meeting of Lis Construction Limited on Dec. 6, 2004 held at First Floor, 167 High Road, Loughton, Essex IG10 4LF, the extraordinary and ordinary resolutions to wind up the company were passed. Richard Jeffrey Rones of ThorntonRones, First Floor, 167 High Road, Loughton, Essex IG10 4LF has been appointed liquidator of the company. CONTACT: THORNTONRONES 167 High Road, Loughton, Essex IG10 4LF Phone: 020 8418 9333 E-mail: info@thorntonrones.co.uk Web site: http://www.thorntonrones.co.uk MARLBOROUGH MEDIA: Members Agree to Wind up Business ---------------------------------------------------- At the extraordinary general meeting of Marlborough Media Limited on Dec. 7, 2004 held at 641 Green Lanes, London N8 0RE, the subjoined extraordinary resolution to wind up the company was passed. Ninos Koumettou of Alexander Lawson & Co, 641 Green Lanes, London N8 0RE has been appointed liquidator of the company. CONTACT: ALEXANDER LAWSON & CO. 641 Green Lanes, London N8 0RE M & W SALES: Appoints Begbies Traynor Liquidator ------------------------------------------------ At the extraordinary general meeting of M & W Sales Limited on Dec. 8, 2004 held at The Old Exchange, 234 Southchurch Road, Southend-on-Sea, Essex SS1 2EG, the subjoined extraordinary resolution to wind up the company was passed. Lloyd Biscoe of Begbies Traynor, The Old Exchange, 234 Southchurch Road, Southend-on-Sea, Essex SS1 2EG has been appointed liquidator of the company. CONTACT: BEGBIES TRAYNOR The Old Exchange, 234 Southchurch Road Southend-on-Sea SS1 2EG Phone: 01702 467255 Fax: 01702 467201 E-mail: southend@begbies-traynor.com Web site: http://www.begbies.com NEALES AIRCRAFT: Insolvency Service Banish Director for 4 Years --------------------------------------------------------------- The director of an aircraft interiors refurbishment business that failed with an estimated total deficiency of GBP687,218 has given an Undertaking not to hold directorships or take any part in company management for four years. The Undertaking by Alan John Miles, 50, of Wayside Road, St. Leonards, Ringwood, Hampshire was given in respect of his conduct as director of Neales Aircraft Interiors Limited (NAIL), which carried on business from premises at Building 266, Bournemouth International Airport, Christchurch, Dorset, BH23 6NW. NAIL was placed into compulsory liquidation on August 23, 2003 with an estimated total deficiency of GBP687,218. Acceptance of the Undertaking on 22 November 2004 prevents Mr. Miles 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 four years. 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. The matter of unfit conduct, not disputed by Mr. Miles, was that he failed to manage NAIL's affairs properly between September 1, 2001 and February 10, 2003. As a result NAIL incurred trading losses every month from November 2001 to January 2003 and its financial position changed from a surplus of at least GBP75,932 as at September 1, 2001 to a deficiency of GBP329,280 when the company ceased trading. 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 NEW STAR: Calls Final Meeting of Members ---------------------------------------- The final meeting of the members of New Star Enhanced Income Trust Plc will be on Jan. 28, 2005 commencing at 11:00 a.m. It will be held at KPMG LLP, 8 Salisbury Square, London EC4Y 8BB. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with KPMG LLP, 8 Salisbury Square, London EC4Y 8BB not later than 12:00 noon, Jan. 27, 2005. CONTACT: KPMG CORPORATE RECOVERY 8 Salisbury Square, London EC4Y 8BB Phone: (020) 7311 1000 Fax: +44 (0)207 694 3533, (020) 7311 3311 Web site: http://www.kpmg.co.uk NSEIT ZEROS: Liquidator to Give Final Update Next Month ------------------------------------------------------- The final meeting of the members of NSEIT Zeros 2008 Plc will be on Jan. 28, 2005 commencing at 11:00 a.m. It will be held at KPMG LLP, 8 Salisbury Square, London EC4Y 8BB. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with KPMG LLP, 8 Salisbury Square, London EC4Y 8BB not later than 12:00 noon, Jan. 27, 2005. CONTACT: KPMG CORPORATE RECOVERY 8 Salisbury Square, London EC4Y 8BB Phone: (020) 7311 1000 Fax: +44 (0)207 694 3533, (020) 7311 3311 Web site: http://www.kpmg.co.uk SLOVENIAN FUND: Deadline for Filing of Claims Next Week ------------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF The Slovenian Fund Management Co. (Guernsey) Limited (In Liquidation) All persons owing monies to The Slovenian Fund Management Co. (Guernsey) Limited are requested to settle the account concerned directly with the Liquidator. All persons having claims against the company are requested to send a detailed account thereof to the Liquidator on or before January 7, 2005. CONTACT: THE SLOVENIAN FUND MANAGEMENT CO. (GUERNSEY) LIMITED P.O. Box 321 National Westminster House Le Truchot, St. Peter Port Guernsey, GY1 4ND Contact: Stephen Le Page, Liquidator ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter -- Europe is a daily newsletter co- published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland USA. Larri-Nil Veloso, Ma. Cristina Canson, Liv Arcipe, Julybien Atadero and Erica Fernando, Editors. Copyright 2004. All rights reserved. ISSN 1529-2754. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. 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