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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, August 10, 2005, Vol. 6, No. 157

                            Headlines

B E L G I U M

SOLUTIA INC.: Local Unit Named in Europe-wide BBP Probe


F R A N C E

RHODIA SA: Sells Silicone Sealants Business to Henkel


G E R M A N Y

ASPECTA MARKETING: Under Bankruptcy Administration
BRUNNER UND STAUBACH: Court to Verify Claims October
CESANCO GMBH: Sulzbach Court Calls in Administrator
DAIMLERCHRYSLER AG: Faces Another Investigation
ISH GMBH: Renamed to Unity Media

J. N. TISCHLER: Creditors Meeting Set Last Week of September
KARSTADTQUELLE AG: Kompakt Jobs Safe for Now
KARSTADTQUELLE AG: Rhenus Interested in Package Logistics Unit
K+S AUTOMOBIL: Creditors' Claims Due this Month
M-DESIGN: Bielefeld Firm Succumbs to Bankruptcy

PETER POZDZIECH: Bochum Court Names Raimund Kress Administrator
PIRO-TRADE: Proofs of Claim Due Next Week
PORTUGIESISCHES KULTUR: Creditors Meeting Set Tomorrow
PROFERO KABELTECHNIK: Creditors Meeting Set Next Month
PROFIL GMBH: Under Bankruptcy Administration

PROSIEBENSAT.1 MEDIA: Nears Deal with Axel Springer
STAMEX GMBH: Court to Verify Claims September
WALKER DESIGN: Kleve Court Appoints Dr. Tomp Administrator
ZEISLER GMBH: Creditors to Meet Later this Month


G R E E C E

OLYMPIC AIRLINES: Operational Problems Loom Ahead
OLYMPIC AIRLINES: Sale Moved to September


H U N G A R Y

PANNONPLAST RT: Willing to Sell Foam Unit for Right Price


I T A L Y

PARMALAT FINANZIARIA: Hits on J.P Morgan Chase, UniCredito
PARMALAT FINANZIARIA: Pulls out Austrian Investment
VOLARE GROUP: On the Lookout for Buyers or Partners


N E T H E R L A N D S

VERSATEL TELECOM: Shareholder Could Pocket EUR20 Mln from Sale


P O L A N D

ELEKTRIM SA: Loses Major Asset to Creditor


P O R T U G A L

PARMALAT PORTUGAL: Secures EUR23.3 Million Loan


R U S S I A

AKS: Undergoes Bankruptcy Supervision Procedure
BELEZINO-AGRO-SNAB: Creditors Opt for Liquidation
CASCADE: Hires A. Nekhina as Insolvency Manager
METALLIST: Proofs of Claim Deadline Next Week
METROMEDIA INTERNATIONAL: Redeems Senior Notes for US$158 Mln

OAO LUKOIL: Outlook Positive on Improved Performance
OAO SIBNEFT: Corporate Credit Rating Upped to 'BB-'
PROGRESS-AGRO: Insolvency Manager Takes over Operation
SALYMSKIY TIMBER: Undergoes Bankruptcy Supervision Procedure
SARAPULSKIY RADIO: Appoints Interim Insolvency Manager

SLAVYANSKAYA AUTO-COLUMN: Bankruptcy Hearing Resumes Next Month
UKHTA-GAS-STROY-MASH: Sets Public Auction Next Week
YUKOS OIL: Analysts Predict Sale of Entire Company
ZAVOLZHSKIY CHEMICAL: Declared Insolvent


S W E D E N

CONCORDIA BUS: To Discuss Latest Results Tomorrow


U K R A I N E

ATOM-ELEKTROMONTAZH: Bankruptcy Supervision Starts
DIARH: Under Bankruptcy Supervision
GORODOK' FOOD: Starves into Bankruptcy
HELAL: Court Appoints Temporary Insolvency Manager
LANIVTSI' SUGAR: Temporary Insolvency Manager Steps in

MONTAZHHIMZAHIST SU: Court Names Liquidator
OLIMPEKS-COMPANY: Declared Insolvent
SLAVUTA' BROADCLOTH: Succumbs to Bankruptcy
UTA: Undergoes Bankruptcy Supervision Procedure
ZORYANE: Donetsk Court Orders Debt Moratorium


U N I T E D   K I N G D O M

ADMM LIMITED: Names Begbies Traynor Liquidator
AFFILIATE MARKETING: Calls in Liquidator from Mark Goldstein
ANGLO & OVERSEAS: Members Opt for Liquidation
APEX INTERIORS: Members Opt for Liquidation
AUBREY STIRLING: EGM Passes Winding-up Resolution

AUGUST EXPORT: Begbies Liquidator Moves in
BOOTHBOURNE LIMITED: Names Vantis Redhead Liquidator
BORDER COUNTIES: Members Decide to Wind up Firm
C.A.T. SECURITY: No Longer Able to pay Liabilities
CONSULTANT GAS: Calls in Liquidator

DEYMEL INVESTMENTS: Deloitte & Touche Liquidators Enter Firm
EXPRESSWAY COMMERCIALS: Calls in Administrators from Vantis
FIVE STAR: Recruitment Company Under Administration
FRESH CUT: Appoints Begbies Traynor Liquidator
FTMS DIRECT: Calls in Joint Liquidators

GLOBAL CROSSING: GCUK Begins Sr. Secured Notes Exchange Offer
GREGSONS LIMITED: Official Receiver to Oversee Winding-up
HATHAWAY BUILDING: Files for Liquidation
HUGHES & HUGHES: Opts to Liquidate Assets
I P R MANAGEMENT: Members Resolve to Liquidate Firm

JOYFLOW DATA: Court Orders Winding-up
KAOS DESIGN: Court Accepts Winding-up Petition
KINGSLAND CASH: Names Leonard Curtis Liquidator
LAURA ASHLEY: Buyout Talks Resurface
LOBSTER GROUP: Names Grant Thornton Administrator

LONDON MANSTON: Administrators from Grant Thornton Move in
MANTON TRANSPORT: Members Pass Winding-up Resolutions
MARCONI CORPORATION: Confirms Takeover Negotiations
MARKS & SPENCER: Could Gain from Littlewoods' Demise
M & E SERVICES: Appoints Baker Tilly Liquidator

NICK WATKINS: Collapses into Liquidation
OLYMPIA ENG: Liquidators from Poppleton Move in
ORONHURST LIMITED: Liquidators from Ian Holland Step in
PLANESTATION GROUP: Hires Grant Thornton as Administrator
PROWELD QUALITY: Falls into Administration

PROWELD QUALITY: Portland Business Liquidator Enters Firm
QE2 TECHNICAL: Court Orders Liquidation
RENAISSANCE FILMS: Administrators Take over Operation
RETAIL MAINTENANCE: Opts for Liquidation
ROYAL & SUN ALLIANCE: Unfazed by General Motors Lawsuit

SCHLAGMAN LTD.: Court Issues Winding-up Order
SEWAN LIMITED: Hires Smith & Williamson as Liquidator
SEYMAC AUTOMATON: Court Okays Liquidation
SIMBALL LIMITED: In Voluntary Liquidation
SWEP LIMITED: Members Decide to Wind up Company

SYSTEM CONTROL: Calls in Tenon Recovery Administrator
T & E PRINT: Winding-up Gets Court Approval
TOTAL COMMUNICATIONS: Names Kroll Liquidator
TROUBADOUR WINES: Members Opt for Liquidation
WINDLESHAM GLASS: Liquidates Assets


                            *********


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


SOLUTIA INC.: Local Unit Named in Europe-wide BBP Probe
-------------------------------------------------------
Solutia, Inc., discloses in its latest Form 10-Q filed with the
U.S. Securities and Exchange Commission, that competition
authorities in Belgium and several other European countries are
investigating past commercial practices of certain companies
engaged in the production and sale of butyl benzyl phthalates
(BBP).

One of the BBP producers under investigation by the Belgian
Competition Authority is Ferro Belgium sprl, the European
subsidiary of Ferro Corporation.  Ferro's BBP business in Europe
was purchased from Solutia in 2000.

Solutia says it has received an indemnification notice from
Ferro and has exercised its right, pursuant to the purchase
agreement relating to Ferro's acquisition of the BBP business,
to assume and control the defense of Ferro in proceedings
relating to these investigations.

On July 7, 2005, the Belgian Competition Authority issued a
Statement of Objections regarding its BBP investigation in which
Solutia Europe S.A/N.V., a European subsidiary of Solutia, along
with Ferro and two other producers of BBP, is identified as a
party under investigation with respect to its ownership of the
BBP business from 1997 until the business was sold in 2000.

Solutia is not named as a party under investigation in the
Statement of Objections.

Written comments to the Statement of Objections are due on
August 31, 2005, and a preliminary oral hearing before the
Belgian Competition Authority is currently scheduled to take
place on September 6, 2005.

Solutia is fully cooperating with the Belgian Competition
Authority in this investigation.  Solutia believes that any
liability that may result from the Belgian investigation will
not be significant to its results of operations or financial
position.

However, Solutia cannot provide any assurance that the liability
assessed against it as a result of this matter would not have a
material adverse effect on the company's results of operations
or financial position.

Headquartered in St. Louis, Missouri, Solutia, Inc. --
http://www.solutia.com/-- with its subsidiaries, make and sell
a variety of high-performance chemical-based materials used in a
broad range of consumer and industrial applications.  The
Company filed for Chapter 11 protection on December 17, 2003
(Bankr. S.D.N.Y. Case No. 03-17949).  When the Debtors filed for
protection from their creditors, they listed $2,854,000,000 in
assets and $3,223,000,000 in debt.  Solutia is represented by
Richard M. Cieri, Esq., at Kirkland & Ellis. (Solutia Bankruptcy
News, Issue No. 44; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


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


RHODIA SA: Sells Silicone Sealants Business to Henkel
-----------------------------------------------------
Rhodia S.A. has signed a binding agreement for the sale of its
European cartridge silicone sealants business to Henkel.  This
business comprises the production and distribution in Europe of
a wide range of silicone sealants sold in cartridge form for the
construction and Do-It-Yourself (DIY) markets.  The transaction
should be finalized in the coming weeks pending regulatory
approvals.

With 158 employees based mainly on sites in Leverkusen in
Germany and Leicester in the U.K., the business generated sales
of more than EUR50 million in 2004.

The Rhodia Group will continue to develop and manufacture core
intermediates as well as bulk silicone sealants and market them
in Europe and the rest of the world.

This divestment forms part of the divestiture of non-strategic
activities being undertaken by the Group to consolidate its
business portfolio.

The Henkel Group operates in three strategic business areas:
Home Care, Personal Care, and Adhesives, Sealants and Surface
Treatment.  In fiscal 2004, the Henkel Group generated sales of
EUR10,592 billion.  More than 50,000 employees work for the
Henkel Group worldwide.

                            *   *   *

In June, French police and a judicial investigator reportedly
swooped down on the offices of the finance ministry and Rhodia.
Agence France-Presse associated the raid to the probe into the
accounting irregularities at the company where Finance Minister
Thierry Breton had served as board member.

Rhodia is a global specialty chemicals company partnering with
major players in the automotive, electronics, fibers,
pharmaceuticals, agrochemicals, consumer care, tires and paints
& coatings markets to offer tailor-made solutions combining
original molecules and technologies to respond to customers'
needs.

It generated net sales of EUR5.3 billion in 2004 and employs
20,000 people worldwide.  It is listed on the Paris and New York
stock exchanges.

In August, the company net sales (excluding services and other
revenues) in the second quarter of 2005 amounted to EUR1,393
million compared with EUR1,296 million in the second quarter of
2004.  The Group continued to implement the fixed cost reduction
program, generating savings of EUR32 million (before inflation),
in line with the targeted EUR114 million reduction over the full
year 2005.  On the last 12 months, the Group's headcount in
France has been reduced by more than 1,000 people (-12%).
The operating loss amounted to EUR69 million, versus a loss of
EUR33 million in the second quarter 2004, reflecting the EUR101
-million full impairment of Rhodia Pharma Solutions assets.
Excluding this exceptional charge, the Group would have reported
operating income of EUR32 million, representing a EUR65 million
improvement compared to the second quarter 2004.

Financial result, which was unchanged at a negative EUR95
million, included principally EUR58 million in interest expense,
EUR27 million in unrealized foreign exchange losses on the
conversion of U.S. dollar-denominated debt and EUR3 million in
non-recurring refinancing costs.

The Group's overall net loss for the period came to EUR197
million, compared with a net loss of EUR132 million in the
second quarter 2004 (before the taking into account EUR187
million of results from discontinued operations).

CONTACT:  RHODIA S.A.
          26, quai Alphonse Le Gallo
          92512 Boulogne-Billancourt Cedex, France
          Phone: +33-1-55-38-40-00
          Fax: +33-1-55-38-44-71
          Web site: http://www.rhodia.com

          Press Relations
          Lucia Dumas
          Phone: +33 1 55 38 45 48
          Anne-Laurence de Villepin
          Phone: +33 1 55 38 40 25


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


ASPECTA MARKETING: Under Bankruptcy Administration
--------------------------------------------------
The district court of Nuernberg opened bankruptcy proceedings
against aspecta Marketing GmbH on July 18.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until September 12, 2005 to register
their claims with court-appointed provisional administrator
Alexander Bergfeld.

Creditors and other interested parties are encouraged to attend
the meeting on October 11, 2005, 11:30 a.m. at the district
court of Nuernberg, Flaschenhofstr. 35, Sitzungssaal 152/I, 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:  ASPECTA MARKETING GmbH
          Contact:
          Kerstin Apel, Manager
          Harrichstrasse 5, 90408 Nuernberg

          Alexander Bergfeld, Administrator
          Peuntgasse 3, 90402 Nuernberg
          Phone: 0911/27980-0
          Fax: 0911/27980-90


BRUNNER UND STAUBACH: Court to Verify Claims October
----------------------------------------------------
The district court of Frankfurt am Main opened bankruptcy
proceedings against Brunner und Staubach GmbH on July 8.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until September 19,
2005 to register their claims with court-appointed provisional
administrator Ottmar Hermann.

Creditors and other interested parties are encouraged to attend
the meeting on October 10, 2005, 9:00 a.m. at the district court
of Frankfurt am Main, Saal 1, 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:  BRUNNER UND STAUBACH GmbH
          Flinschstrasse 6, 60388 Frankfurt am Main
          Contact:
          Heike Nenninger-Saiks, Manager
          Im Niederfeld 1, 61184 Karben

          Ottmar Hermann, Administrator
          Bleichstrasse 2-4, D-60313 Frankfurt am Main
          Phone: 069/9130920
          Fax: 069/91309230


CESANCO GMBH: Sulzbach Court Calls in Administrator
---------------------------------------------------
The district court of Sulzbach opened bankruptcy proceedings
against CESANCO GmbH on July 19.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until August 19, 2005 to register their claims
with court-appointed provisional administrator Matthias Bayer.

Creditors and other interested parties are encouraged to attend
the meeting on August 30, 2005, 11:10 a.m. at the district court
of Sulzbach, Aussenstelle Sulzbach, Vopeliusstrasse 2, 66280
Sulzbach, 1. Etage, Saal 13, 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 on September 13, 2005, 9:30 a.m. at the
same venue.

CONTACT:  CESANCO GmbH
          Rotstagstrasse 3 a, 66333 Volklingen
          Contact:
          Roland Ebersoldt, Manager
          Im Fuellengarten 60, 66115 Saarbruecken
          Nadim Itani, Manager
          Neunkircher Strasse 98 a, 66583 Spiesen-Elversberg
          Elfriede Morak, Manager
          Knopfstrasse 23, 76571 Gaggenau

          Matthias Bayer, Administrator
          Kaiserstrasse 77, 66386 St. Ingbert
          Phone: (06894) 38 76 311
          Fax: (06894) 382185


DAIMLERCHRYSLER AG: Faces Another Investigation
-----------------------------------------------
DaimlerChrysler AG is reportedly cooperating with the U.S.
Justice Department's probe into claims of corruption at the
Mercedes Car Group.

According to the Associated Press, the investigation involving a
dozen countries focuses on allegations of bribery, which senior
executives in Germany were reportedly aware of.  It is related
to the U.S. Securities and Exchange Commission's inquiry last
year on claims by a former Chrysler accountant that the company
bribed foreign officials through secret bank accounts, said
company spokesman Toni Melfi.

Earlier, Berlin-based financial services regulator BaFin
launched an investigation into alleged insider trading at
DaimlerChrysler.  The probe centered on deals prior to Mr.
Juergen Schrempp's departure.  Sabine Reimer, a spokeswoman for
BaFin, said they are looking into all the deals, checking
whether the company followed the guidelines under the stock
exchange disclosure requirements, or ad hoc rules.

Mr. Melfi did not provide details as to the number of people
under investigation, while Justice Department officials did not
immediately return calls for comment.

Meanwhile, the carmaker's internal audit was said to have had
not drawn any conclusions as to whether any laws were violated.
German officials are also looking into the reported suicide of
53-year-old Rudi Kornmayer, the managing director of a Mercedes
plant in Nigeria.

CONTACT:  DAIMLERCHRYSLER AG
          70546 Stuttgart, Germany
          Phone: +49 711 17 0
          Fax: +49 711 17 22244
          Web site: http://www.daimlerchrysler.com


ISH GMBH: Renamed to Unity Media
--------------------------------
The parent company of ish and iesy, the recently combined cable
network operators in North Rhine-Westphalia and Hesse, will now
be named Unity Media GmbH.

Parm Sandhu, CEO of Unity Media, commented: "The name Unity
Media reflects both the combination of iesy and ish and also
highlights our ability to deliver a full range of entertainment
and multi-media services into the home -- TV, Internet and
telephony -- from one source."

The brands of the two subsidiary companies ish and iesy will
remain unchanged in our communications with customers.  The name
Unity Media, which was found internally in an employee
competition, will soon be entered in the appropriate register.

About Unity Media

Unity Media is headquartered in Cologne and is the proprietor of
the Hessian cable network operator iesy and the North Rhine-
Westphalian cable network operator ish.  The two companies are
the largest providers of cable television in their respective
states.  In addition to analogue cable services, ish and iesy
also offer digital TV, high-speed Internet and telephony.  On 30
June 2005, iesy and ish had approximately 5.2 million basic
cable customers, 88,450 digital TV customers, 27,500 high-speed
Internet customers, and 9,800 telephone connections.  More
information on ish and iesy can be found at http://www.iesy.de
and http://www.ish.de

                            *   *   *

In conjunction with its merger with iesy, the company closed
EUR920 million of new senior secured credit facilities (EUR850
million funded term loans, with an incremental EUR70 million
revolving credit facility) and drew from a EUR360 million bridge
loan facility.  Pro forma for the transaction, the Company has
EUR1,625 million total debt and approximately EUR15 million of
cash on hand, representing approximately EUR1,610 million net
debt.  AlixPartners LLC is helping the company in its
restructuring efforts.

CONTACT:  ISH
          Stefan Lennardt
          Corporate Communication
          Phone: +49 221 37792 197
          E-mail: presse@ish.com

          IESY GMBH
          Gary Ferrera
          Chief Financial Officer
          Phone: +49 69 973 24 600
          E-mail: investor.relations@iesy.de


J. N. TISCHLER: Creditors Meeting Set Last Week of September
------------------------------------------------------------
The district court of Bielefeld opened bankruptcy proceedings
against J. N. Tischler-Bedarf GmbH on July 19.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until September 6, 2005 to
register their claims with court-appointed provisional
administrator Peter Henz.

Creditors and other interested parties are encouraged to attend
the meeting on September 27, 2005, 9:30 a.m. at the district
court of Bielefeld, Gerichtstrasse 6, 33602 Bielefeld, 4. Ebene,
Saal 4065, 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:  J. N. Tischler-Bedarf GmbH
          Gewerbestrasse 23, 33397 Rietberg
          Contact:
          Juergen Niehueser

          Peter Henz, Administrator
          Rietberger Str. 28, 33378 Rheda-Wiedenbrueck


KARSTADTQUELLE AG: Kompakt Jobs Safe for Now
--------------------------------------------
Buyers of KarstadtQuelle's smaller stores may do anything they
want except fire employees, Handelsblatt learned recently.

According to the paper, an agreement, reached by KarstadtQuelle
with employees when it span off the 74 stores to Karstadt
Kompakt in January 2005, prevents any redundancy without prior
approval of the works council.  The agreement also requires the
new owners to negotiate new employment terms with workers.

At least two buyers are interested in Karstadt Kompakt, which
employs 4,900.  Handelsblatt identified them as Dawnay Day and
Hilco, both investment firms.  Based in the U.K., Dawnay Day is
active in the commercial property sector, while Hilco focuses on
the retail sector and has offices in London and Chicago.

KarstadtQuelle plans to focus on its remaining core 89 large
department stores after Kompakt's sale.

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

          DAWNAY, DAY PRINCIPAL INVESTMENTS
          15 Grosvenor Gardens
          London SW1W 0BD
          Phone: +44 (0) 20 7834 8060
          Fax: +44 (0) 20 7828 1992
          E-mail: luke.bridgeman@dawnay-day.co.uk
                  robert.goldsmith@dawnay-day.co.uk
          Web site: http://www.dawnayday.com

          HILCO U.K. LIMITED
          37 Duke Street
          London W1U 1LN
          Phone: +44 (0) 207 317 2050
          Fax: +44 (0) 207 317 2151
          Web site: http://www.hilcouk.com


KARSTADTQUELLE AG: Rhenus Interested in Package Logistics Unit
--------------------------------------------------------------
Struggling retail giant KarstadtQuelle is holding exclusive
talks with local logistics group Rhenus AG & Co. KG over its
package logistics operations, Financial Times Deutschland says.

According to sources privy to the matter, both groups have until
September to complete preliminary talks, which will be followed
by a three-month review.  After the review, KarstadtQuelle,
which is reportedly expecting EUR220 million for the unit, will
then decide whether the sale is economically beneficial.

The package logistics unit, which employs around 5,000 people,
collects and packs parcels for customers of Neckermann and
Quelle, KarstadtQuelle's mail order businesses.  Prior to
Rhenus' bid, local postal services provider Deutsche Post had
shown interest in the division.

The latest sale is part of KarstadtQuelle's effort to depart
from its non-core activities to reduce debt.

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

          RHENUS AG & CO. KG
          Rhenus-Platz 1
          Am Airport Dortmund
          D-59439 Holzwickede
          Phone: +49(0)2301 29-0
          E-mail: kontakt@rhenus.de
          Web site: http://www.rhenus.com


K+S AUTOMOBIL: Creditors' Claims Due this Month
-----------------------------------------------
The district court of Frankfurt (Oder) opened bankruptcy
proceedings against K+S Automobil GmbH on July 20.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until August 23, 2005
to register their claims with court-appointed provisional
administrator Dr. Karsten Forster.

Creditors and other interested parties are encouraged to attend
the meeting on September 27, 2005, 12:00 p.m. at the district
court of Frankfurt (Oder), Muellroser Chaussee 55, 15236
Frankfurt (Oder), Saal 401, 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:  K+S AUTOMOBIL GmbH
          Am Gewerbepark 1, 15890 Eisenhuettenstadt

          Dr. Karsten Forster, Administrator
          Herbert-Jensch-Str. 111, 15234 Frankfurt (Oder)


M-DESIGN: Bielefeld Firm Succumbs to Bankruptcy
-----------------------------------------------
The district court of Bielefeld opened bankruptcy proceedings
against M-Design GmbH & Co. KG on July 19.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until September 8, 2005 to register
their claims with court-appointed provisional administrator
Joachim Walterscheid.

Creditors and other interested parties are encouraged to attend
the meeting on September 29, 2005, 10:10 a.m. at the district
court of Bielefeld, Gerichtstrasse 6, 33602 Bielefeld, 4. Ebene,
Saal 4065, 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:  M-DESIGN GmbH & Co. KG
          Mindener Str. 3, 32257 Buende
          Contact:
          Cornelia Schmeding, Manager
          Zum Obstgarten 14, 49328 Melle

          Joachim Walterscheid, Administrator
          Am Kurpark 2, 32545 Bad Oeynhausen


PETER POZDZIECH: Bochum Court Names Raimund Kress Administrator
---------------------------------------------------------------
The district court of Bochum opened bankruptcy proceedings
against Peter Pozdziech GmbH & Co. KG on July 15.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until August 26, 2005 to
register their claims with court-appointed provisional
administrator Raimund Kress.

Creditors and other interested parties are encouraged to attend
the meeting on September 30, 2005, 8:10 a.m. at the district
court of Bochum, Hauptstelle, Viktoriastrasse 14, 44787 Bochum,
Erdgeschoss, Saal A29, 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:  PETER POZDZIECH GmbH & Co. KG
          Oberstr. 113a, 44892 Bochum
          Contact:
          Peter Pozdziech, Manager
          Grabelohstr. 4, 44892 Bochum

          Raimund Kress, Administrator
          Universitatsstrasse 125, 44789 Bochum
          Phone: 930 29-0
          Fax: 930 29-20


PIRO-TRADE: Proofs of Claim Due Next Week
-----------------------------------------
The district court of Kleve opened bankruptcy proceedings
against PIRO-Trade GmbH on July 19.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until August 11, 2005 to register their claims
with court-appointed provisional administrator Horst Piepenburg.

Creditors and other interested parties are encouraged to attend
the meeting on September 1, 2005, 11:30 a.m. at the district
court of Kleve, Schlossberg 1 (Schwanenburg), 47533 Kleve,
Erdgeschoss, Sitzungssaal C 58, 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:  PIRO-TRADE GmbH
          Weseler Strasse 2, 46519 Alpen
          Contact:
          Guenther van Roth, Manager
          Albert-Oetker-Strasse 113, 47877 Willich
          Udo Pinders, Manager
          Gildestrasse 1, 47665 Sonsbeck

          Horst Piepenburg, Administrator
          Heinrich-Heine-Allee 20, 40213 Duesseldorf


PORTUGIESISCHES KULTUR: Creditors Meeting Set Tomorrow
------------------------------------------------------
The district court of Bremen opened bankruptcy proceedings
against Portugiesisches Kultur- und Freizeitzentrum in Bremen
e.V. on July 13.  Consequently, all pending proceedings against
the company have been automatically stayed.  Creditors have
until September 20, 2005 to register their claims with court-
appointed provisional administrator Ralph Buenning.

Creditors and other interested parties are encouraged to attend
the meeting on August 11, 2005, 9:30 a.m. at the district court
of Bremen, Saal 115, Gerichtshaus (Neubau), Ostertorstr. 25-31,
28195 Bremen, 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 on
October 13, 2005, 9:30 a.m. at the same venue.

CONTACT:  PORTUGIESISCHES KULTUR- UND FREIZEITZENTRUM
          IN BREMEN e.V.
          Borkumstr. 3, 28217 Bremen
          Contact:
          Nuno Miguel Lopes Ramos
          Brabantstr. 1, 28217 Bremen
          Domingos Pedro Ferreira Freitas
          Heimatstr. 36, 28217 Bremen

          Ralph Buenning, Administrator
          Domshof 18-20, 28195 Bremen
          Phone: 0421/3686-0
          Fax: 0421/3686-100


PROFERO KABELTECHNIK: Creditors Meeting Set Next Month
------------------------------------------------------
The district court of Heilbronn opened bankruptcy proceedings
against Profero Kabeltechnik + Automatisierungs GmbH on July 11.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors had until August 8, 2005
to register their claims with court-appointed provisional
administrator Walter Eckelmann.

Creditors and other interested parties are encouraged to attend
the meeting on September 7, 2005, 8:45 a.m. at the district
court of Heilbronn, 74072 Heilbronn, Rollwagstr. 10 a,
Erdgeschoss, Saal 4, 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:  PROFERO KABELTECHNIK + AUTOMATISIERUNGS GmbH
          Contact:
          Karl-Heinz Scherer, Manager
          Bahnhofstr. 11, 71711 Steinheim

          Walter Eckelmann, Administrator
          Grosse Bahngasse 8-10, 74072 Heilbronn
          Phone: 07131/68855


PROFIL GMBH: Under Bankruptcy Administration
--------------------------------------------
The district court of Stendal opened bankruptcy proceedings
against Profil GmbH on July 15.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until August 31, 2005 to register their claims
with court-appointed provisional administrator Ruediger Bauch.

Creditors and other interested parties are encouraged to attend
the meeting on September 14, 2005, 9:45 a.m. at the district
court of Stendal, Saal 411, Justizzentrum "Albrecht der Bar",
Scharnhorststrasse 40, 39576 Stendal, 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:  PROFIL GmbH
          Gardelegener Strasse 117, 39576 Stendal
          Contact:
          Bjorn Sprawe, Manager
          Osterburger Strasse 101, 39576 Stendal

          Ruediger Bauch, Administrator
          Schleinufer 11, 39104 Magdeburg
          Phone: 0391/5354-0
          Fax: 0391/5354-100


PROSIEBENSAT.1 MEDIA: Nears Deal with Axel Springer
---------------------------------------------------
Axel Springer Verlag may soon strike a deal to acquire German TV
group ProSiebenSat.1 Media, Financial Times Deutschland says.

The interested buyer held talks with ProSiebenSat.1's major
shareholders on August 3.  It is not clear if another round of
negotiations is necessary, although FT says due diligence has
been carried out already.

A deal must be concluded before March 2006 to avoid violating an
agreement with the insolvency administrator of Kirch,
ProSiebenSat.1's former owner.  According to FT, it takes about
four months to get clearance for any deal from media and
competition authorities.

Several U.S. investment companies and media entrepreneur Haim
Saban currently own 50.5% of ProSiebenSat.1's capital and 88% of
voting rights.  According to the report, the financial investors
want a deal within the year.  Mr. Saban pans to stay on as
shareholder after the sale.

ProSiebenSat.1 Media AG was formed in 2000 with the merger of
two of Germany's leading broadcasters, ProSieben Media AG and
Sat.1.  It is the largest and most successful television
corporation with four stations namely: Sat.1, ProSieben, kabel
eins and N24.

CONTACT:  PROSIEBENSAT.1 MEDIA AG
          Medienallee 7
          85774 Unterfohring
          Phone: +49 [89] 95 07-11 80
          Fax: +49 [89] 95 07-11 84


STAMEX GMBH: Court to Verify Claims September
---------------------------------------------
The district court of Friedberg (Hessen) opened bankruptcy
proceedings against STAMEX GmbH Stahl- und Metallbau on July 1.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until September 12,
2005 to register their claims with court-appointed provisional
administrator Karl-Heinz Trebing.

Creditors and other interested parties are encouraged to attend
the meeting on September 28, 2005, 9:00 a.m. at the district
court of Friedberg (Hessen), Saal 20a, Amtsgerichtsgebaude,
Homburger Strasse 18, 61169 Friedberg (Hessen), 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:  STAMEX GmbH STAHL- UND METALLBAU
          Hauptstrasse 1, 35510 Butzbach
          Contact:
          Alexander Hiemer, Manager
          Hans Schmalenberger, Manager

          Karl-Heinz Trebing, Administrator
          Hanauer Landstrasse 287-289, 60314 Frankfurt
          Phone: 069/15051-300
          Fax: 069/15051400


WALKER DESIGN: Kleve Court Appoints Dr. Tomp Administrator
----------------------------------------------------------
The district court of Kleve opened bankruptcy proceedings
against Walker Design & Display GmbH i. L. on July 19.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until August 16, 2005
to register their claims with court-appointed provisional
administrator Dr. Juergen Tomp.

Creditors and other interested parties are encouraged to attend
the meeting on September 6, 2005, 11:00 a.m. at the district
court of Kleve, Schlossberg 1 (Schwanenburg), 47533 Kleve,
Erdgeschoss, Sitzungssaal C 58, 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:  WALKER DESIGN & DISPLAY GmbH i. L.
          Auf der Schanz 95, 47652 Weeze
          Contact:
          Michael Walker, Manager

          Dr. Juergen Tomp, Administrator
          Wilhelmshofallee 75, 47800 Krefeld


ZEISLER GMBH: Creditors to Meet Later this Month
------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Zeisler GmbH Meisterbetrieb fuer Gas-,
Wasser-, Heizung-, Solartechnik, Bauklempnerei on July 15.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until October 14,
2005 to register their claims with court-appointed provisional
administrator Dr. Wolfgang Schroder.

Creditors and other interested parties are encouraged to attend
the meeting on August 29, 2005, 9:15 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 also
verify the claims set out in the administrator's report on
December 12, 2005, 9:00 a.m. at the same venue.

CONTACT:  ZEISLER GmbH MEISTERBETRIEB FUER GAS-, WASSER-,
          HEIZUNG-, SOLARTECHNIK, BAUKLEMPNEREI
          Reinickendorfer Strasse 116, 13347 Berlin

          Dr. Wolfgang Schroder, Administrator
          Genthiner Str. 48, 10785 Berlin


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


OLYMPIC AIRLINES: Operational Problems Loom Ahead
-------------------------------------------------
Loss-making carrier Olympic Airlines is facing an operational
crisis in the coming months, Kathimerini Greece says.

Citing a confidential document Olympic Airlines' management sent
to the ministries of Transport and Economy, the carrier is
facing shortage of planes and is unable to plan for its winter
and 2006 summer schedules.

Olympic Airlines' business plan entails operating a fleet of 45
planes by October.  The carrier, however, currently has 40
planes, which means it needs five more Boeing 737s to complete
its fleet.  If Greece decides not to add more planes, the
carrier will be forced to reduce its number of pilots.  On top
of that, the carrier's leasing contract for Boeing 717 planes
will expire on March 31, 2006.  The lessor remains uninformed
whether the contracts will be terminated or renewed.

Last month, Olympic Airlines signed a costly so-called wet lease
agreement, which entails paying for craft at hourly rates, a big
blow to the carrier's reputation, according to Kathimerini
Greece, especially after passengers discovered they were flying
with virtually unknown operators.  To make matters worse, it
remains unclear whether it will convert the term contracts of
260 flight attendants into open-ended ones, the carrier's
management added in its letter.

According to the daily, the management's warning is mainly
linked to the latest attempt to privatize the carrier.  It said,
"The recent attempt at privatizing the company, which began in
October 2004, has exceeded the originally planned deadline for
completion, which was the end of the first half of 2005.

"Within the framework of this privatization process, the company
has adjusted its policy to the requirements of the privatization
consultants and has done everything possible to ease their task.

"The fact that the process is still under way is exhausting the
company's time limits beyond which it cannot put off making
serious decisions."

CONTACT:  OLYMPIC AIRLINES S.A.
          96 Sygrou Ave.
          11741 Athens
          Phone: +30 1 9267221
          Fax: +30 1 9267858
          E-mail: olyair10@otenet.gr
          Web site: http://www.olympicairlines.com


OLYMPIC AIRLINES: Sale Moved to September
-----------------------------------------
The government has extended to September the sale of national
carrier Olympic Airlines to complete talks with preferred bidder
Olympic Investors-York Capital, local daily Imerisia says.

According to Imerisia's sources, Athens wants the U.S. bidder to
prove its credit worthiness before entering final negotiations.
The government is still open to other offers, the paper adds.

The government is aiming to raise EUR1.6 billion from the sale
of Olympic Airlines and other state assets to reduce public
debt, one of the highest in the euro zone.

CONTACT:  OLYMPIC AIRLINES S.A.
          96 Sygrou Ave.
          11741 Athens
          Phone: +30 1 9267221
          Fax: +30 1 9267858
          E-mail: olyair10@otenet.gr
          Web site: http://www.olympicairlines.com


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


PANNONPLAST RT: Willing to Sell Foam Unit for Right Price
---------------------------------------------------------
Loss-making plastic manufacturer Pannonplast Rt plans to pull
out from another subsidiary, Budapest Business Journal says.

Pannonplast President Balazs Bokorovics revealed that given the
right price, it would dispose of its 51% stake in its plastic
foam unit Polifoam.  German foam maker Trocellen, which is also
up for sale, holds the remaining 49% in Polifoam.

Pannonplast Rt recently sold its 50% stake in Pannonpipe Kft to
co-owner Pipelife International GmbH to focus on its consumer
packaging business and slash its debt by HUF2.8 billion.
Pannonplast and Pipelife have jointly owned Pannonpipe since
1990, splitting their stakes equally.  Pannonpipe manufactures
pipes for plumbing and construction works.

Pannonplast, which manufactures a wide range of plastic finished
products, reported its third straight losses in 2004 due to
dropping demand for its products in the sluggish western
European market.  Although 2004 revenues amounted to HUF26.5
billion, the company still booked losses of HUF1.8 billion.

CONTACT:  PANNONPLAST MUANYAGIPARI RT.
          Nagytetenyi ut 216-218
          1225 Budapest,
          Phone: +36 1 207 1936
          Fax: +36 1 207 1525
          Web site: http://www.pannonplast.hu


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


PARMALAT FINANZIARIA: Hits on J.P Morgan Chase, UniCredito
----------------------------------------------------------
Parmalat Finanziaria has filed another multi-billion-dollar
damage suit against two new banks for allegedly abetting the
food group's collapse in 2003, Dow Jones Newswires says.

According to a source privy to the matter, Parmalat is asking
for EUR4.4 billion in damages from J.P. Morgan Chase & Co. and
UniCredito Italiano S.p.A. for their role as co-lead managers of
Parmalat bond issuance from 1994 to 2001.  The source said the
banks ignored the signs of Parmalat's unhealthy financial
situation, thus deepening its insolvency while extending its
life.

A J.P. Morgan spokeswoman, however, said the bank at all times
"believed that it was dealing with an ethical client."  She
stressed it was wrong and irresponsible to suggest that J.P.
Morgan "contributed to or knew of Parmalat's deceptions."

UniCredito, meanwhile, said the Parmalat's allegations were
groundless, adding it will act legally to defend its reputation
and recover damages.  UniCredito is the first local bank that
Parmalat sued for damages.

Enrico Bondi, Parmalat's administrator and CEO, also has a
pending US$10 billion damage suit against Citigroup Inc. and
Bank of America Corp. and auditors Deloitte Touche Tohmatsu and
Grant Thornton International.  Mr. Bondi also has pending EUR7
billion suits in Italy against a number of local and foreign
banks, arising from management's pre-collapse deals.  He claims
these financial firms were aware of the group's dire situation
long before it collapsed.

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


PARMALAT FINANZIARIA: Pulls out Austrian Investment
---------------------------------------------------
Collapsed food group Parmalat Finanziaria has dispose of its
holdings in Austria's second-largest dairy producer
Niederoesterreichische Molkerei (NOeM), Reuters says.

Parmalat sold its 25% plus one share stake in NOeM to majority
shareholder Raiffeisen Holding NOe-Wien reg. Genossenschaft mbH
for EUR35 million.  According to a source privy to the matter,
the deal settled a current legal case with Raiffeisen, which
froze Parmalat's stake in NOeM after the dairy giant collapsed
in December 2003.  Since then, Raiffeisen has been looking for a
new strategic partner for NOeM.  Parmalat acquired its NOeM
stake in 2002 for EUR20 million.

Parmalat Finanziaria collapsed in December 2003 after revealing
a EUR14 billion hole on its balance sheet.  The group then went
into extraordinary administration, along with its subsidiaries.
The insolvency forced the group to pull out from several
businesses and reduce its presence in 30 countries to 16.
Parmalat is planning to get out of administration next month and
relist on the Italian stock market by October.

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


VOLARE GROUP: On the Lookout for Buyers or Partners
---------------------------------------------------
Struggling low-cost carrier Volare is looking for a possible
buyer to improve its operational capacity, Il Sole 24 Ore says.

Volare currently needs new capital to upsize its three-plane
fleet.  The group is also aiming for a strategic partnership
with another airline to ensure it has enough planes to cover all
its flight slots.  Potential buyers include local carriers
Alitalia and Air One and Spanish airline Air Europa.  Spanish
carrier Meridiana reportedly asked for a meeting with Volare
managers.

Volare declared insolvency on Nov. 22, 2004, citing huge debt
and heavy losses.  The group then went under extraordinary
administration, which allowed it to be protected from creditors
while resuming daily operations.  Volare went out of
administration in spring, after beating its EUR7 million revenue
forecast by around EUR3.8 million at EUR10.8 million.

CONTACT:  VOLARE GROUP S.p.A.
          Via Pirelli, 20
          20124 Milan
          Phone: (+39) 02 673 631
          Fax: (+39) 02 673 630 90
          Web site: http://www.volare-group.it


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


VERSATEL TELECOM: Shareholder Could Pocket EUR20 Mln from Sale
--------------------------------------------------------------
Versatel Telecom International N.V. is reportedly being sold for
EUR1.34 billion to Swedish firm Tele 2.

Shareholder Denis O'Brien could earn almost EUR20 million from
its 1.5% stake in Versatel if the sale pushes through, said the
Sunday Independent.

In 1997, Mr. O'Brien and several associates took a minority
stake in the telecoms firm, investing almost EUR1.3 million.
Mr. O'Brien owned 6% of Versatel before it fell into bankruptcy
protection in 2002.  The shareholding was said to be worth
almost EUR320 million.  However, it has been decreasing since
then, as the firm went through corporate restructuring, and
shares plunged over changes in investor sentiment and fears over
debt levels.

Earlier, in another report, a group calling itself "TeleNee" and
claiming to own 3.14% of Versatel has stressed that the company
is worth more than the EUR2.20-per-share offer by Tele2.

According to the Financial Times, they said they're not "against
a takeover . . . but is convinced there are better options than
the current plan."

Chief Financial Officer Mark Lazar said the company was
flattered that shareholders believe it is worth more, but he
noted more than half of its investors had already approved the
offer.  In June, Versatel ended its takeover talks with Belgacom
N.V. together with Talpa Capital B.V., while other discussions
were said to be continuing.

CONTACT:  VERSATEL TELECOM INTERNATIONAL N.V.
          Wouter van de Putte, Head of Investor Relations
          Phone: +31-20-750-2362
          E-mail: wouter.vandeputte@versatel.com
          Web site: http://www.versatel.com

          Cilesta van Doorn
          Manager Corporate Communications
          Phone: +31-20-750-1318
          E-mail: cilesta.vandoorn@versatel.com


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


ELEKTRIM SA: Loses Major Asset to Creditor
------------------------------------------
Elektrim S.A. has lost control of Embud, a company that holds
the last of its key asset, due to non-payment of liabilities,
according to Warsaw Business Journal.

It ceded control of Embud to Inwestycje Polskie for a PLN40
million loan it made in 2004 to buy out employees' bonds.  It
was due to be paid off in October.

"The transfer of Embud's stake in ZE PAK was a formal
requirement of the bank officials," said Elektrim's president
Piotr Nurowski.

Embud holds shares in power plant group ZE PAK.  The report said
the asset is worth 20 times the amount of Elektrim's debt to
Inwestycje Polskie.  Inwestycje Polskie is owned by Zygmunt
Solorz, the main shareholder in Elektrim.

Following the report, the Treasury Ministry, which holds 50%
stake in ZE PAK, sent a letter to Elektrim to find out Embud's
shareholding in ZE PAK.  It reminded the firm of an agreement
that it has to complete the investment regardless of whether it
has shares in the power plant or not," said the ministry's
spokesman Janusz Kwiatkowski.

Work in the project resumed only in May after a year of
suspension due to lack of funds and disagreements between
Elektrim and the Ministry regarding deadlines.  One month ago ZE
PAK received a loan for EUR227 million from banks and EUR224
million from environmental protection agency NFOSiGW to continue
building its new power plant complex.

ZE PAK reported adjusted consolidated loss of over PLN95 million
(US$28.430 million) in 2004.  Since 1999 Elektrim has
implemented the far-reaching restructuring program in order to
improve its operational efficiency and strengthen its position
in the market.

CONTACT:  ELEKTRIM S.A.
          Panska 77/79
          00-834 Warszawa

          Public relations:
          Ewa Bojar
          Company Spokesman
          Phone: (+48 22) 432 89 55
          Fax:   (+48 22) 432 87 99
          E-mail: ewa_bojar@elektrim.pl

          Investor relations:
          Phone: (+48 22) 432 87 75
          Fax:   (+48 22) 432 87 99
          Web site: http://www.elektrim.pl


===============
P O R T U G A L
===============


PARMALAT PORTUGAL: Secures EUR23.3 Million Loan
-----------------------------------------------
Parmalat Portugal Produtos Alimentares Lda can now repay its
existing liabilities after gaining a refinancing deal with five
local banks, Reuters says.

Parmalat has secured a five-year EUR23.3 million loan from Caixa
Banco de Investimento S.A., Caixa Geral de Depositos S.A.,
Millennium bcp Banco Comercial Portugues S.A., Banco Espirito
Santo S.A. and Caixa Central de Credito Agricola Mutuo C.R.L.
The local unit of collapsed dairy giant Parmalat Finanziaria
will use the self-guaranteed loan to repay its debt to six local
banks.  The Italian parent of the group had guaranteed the
previous loan.

CONTACT:  PARMALAT PORTUGAL PRODUTOS ALIMENTARES LDA
          R. Pe de Mouro n36
          2714-508 Linho - Sintra
          Phone: 21 924 86 00
          Fax: 21 924 86 84
          E-mail: dep.comercial@parmalat-pt.com

          CAIXA GERAL DE DEPOSITOS S.A.
          Av. Joao XXI,
          63 - 1000-300 Lisboa
          Phone: (351) 21 795 30 00
          Fax: (351) 21 790 50 50
          E-mail: cgd@cgd.pt
          Web site: http://www.cgd.pt

          CAIXA CENTRAL DE CREDITO AGRICOLA MUTUO CRL
          Rua Castilho 233
          1099-004 Lisboa Lisboa
          Phone: +351 213 80 99 00
          Fax: +351 213 87 08 40

          BANCO COMERCIAL PORTUGUES, S.A.
          Rua Augusta, 62-74
          1149-023 Lisboa Lisboa
          Phone: +351 213 21 10 00
          Fax: +351 213 21 17 69
          Web site: http://www.millenniumbcp.pt


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


AKS: Undergoes Bankruptcy Supervision Procedure
-----------------------------------------------
The Arbitration Court of Bryansk region has commenced bankruptcy
supervision procedure on project-building company Aks.  The case
is docketed as A09-2565/05-27.  Mr. V. Lavrukhin has been
appointed temporary insolvency manager.

Creditors have until Aug. 16, 2005 to submit their proofs of
claim to 248600, Russia, Kaluga, Tsiolkovskogo Str. 33/19.  A
hearing will take place on Oct. 18, 2005, 10:00 a.m. at the
Arbitration Court of Bryansk region located at Russia, Bryansk,
Trudovoy Per. 6, Room 601.

CONTACT:  AKS
          241019, Russia, Bryansk region,
          Peresveta Str. 18/2

          Mr. V. Lavrukhin
          Insolvency Manager
          248600, Russia, Kaluga region,
          Tsiolkovskogo Str. 33/19


BELEZINO-AGRO-SNAB: Creditors Opt for Liquidation
-------------------------------------------------
The Arbitration Court of Udmurtiya republic commenced bankruptcy
proceedings against Belezino-Agro-Snab after finding the open
joint stock company insolvent.  The case is docketed as A71-
17/2005-G2.  Mr. V. Kochetov has been appointed insolvency
manager.  Creditors have until Sept. 16, 2005 to submit their
proofs of claim to 426063, Russia, Izhevsk, Post User Box 2194.

CONTACT:  BELEZINO-AGRO-SNAB
          Russia, Udmurtiya republic,
          Belezino, K. Marksa Str. 93

          Mr. V. Kochetov
          Insolvency Manager
          426063, Russia, Izhevsk,
          Post User Box 2194


CASCADE: Hires A. Nekhina as Insolvency Manager
-----------------------------------------------
The Arbitration Court of Smolensk region has commenced
bankruptcy supervision procedure on limited liability company
Cascade.  The case is docketed as A62-2114/2005 (649-N/05).  Ms.
A. Nekhina has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to:

(a) CASCADE
    214019, Russia, Smolensk region,
    Marshala Koneva Pr. 28e

(b) Temporary Insolvency Manager
    127486, Russia, Moscow region,
    Korovinskoye Shosse, 10, Building 2, Office 37
    Phone: (095) 906-00-67, 906-00-63


METALLIST: Proofs of Claim Deadline Next Week
---------------------------------------------
The Arbitration Court of Moscow region commenced bankruptcy
proceedings against Metallist after finding the open joint stock
company insolvent.  The case is docketed as A41-K2-10400/05.
Mr. Y. Guzhenko has been appointed insolvency manager.
Creditors have until Aug. 16, 2005 to submit their proofs of
claim to 125009, Russia, Moscow, Post User Box 54.

CONTACT:  METALLIST
          142700, Russia, Moscow region, Leninskiy region,
          Vidnoye, Donbasskaya Str. 2

          Mr. Y. Guzhenko
          Insolvency Manager
          125009, Russia, Moscow region,
          Post User Box 54
          Phone: 955-25-51


METROMEDIA INTERNATIONAL: Redeems Senior Notes for US$158 Mln
-------------------------------------------------------------
Metromedia International Group, Inc. said on Monday it has
completed the redemption of all of the Company's outstanding
US$152.0 million 10 1/2% Senior Notes due 2007.  The aggregate
redemption price of the Senior Notes, including accrued
interest, was approximately US$157.7 million.

The Company also announced that it has not yet completed
restatement activities that the Company undertook as previously
disclosed on June 3, 2005 in connection with issuance of its
2004 financial statements.  As part of the restatement
undertaking, the Company has since identified additional
accounting errors that occurred in previously reported audited
financial statements that the Company intends to correct as part
of the current restatement process.  These include, but are not
limited to, the Company's conclusion that certain legal entities
should have been accounted for following the equity method of
accounting as opposed to the consolidation method of accounting.
These legal entities are in addition to Telcell Wireless LLC,
which was previously disclosed.  At present, the Company
contemplates that it will file its 2004 Form 10-K with the SEC
before the end of August 2005 and file its first quarter and
second quarter 2005 quarterly reports on Form 10-Q shortly
thereafter.

About Metromedia International Group

Through its wholly owned subsidiaries, the Company owns
interests in communications and media businesses in the country
of Georgia.  The Company's core businesses includes Magticom,
Ltd., the leading mobile telephony operator in Tbilisi, Georgia,
and Telecom Georgia, a well-positioned Georgian long distance
telephony operator.

CONTACT:  METROMEDIA INTERNATIONAL GROUP, INC.
          Ernie Pyle
          Phone: 704-321-7380
          E-mail: investorrelations@mmgroup.com


OAO LUKOIL: Outlook Positive on Improved Performance
----------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to
positive from stable on Russia-based oil major LUKoil OAO,
following a review of the company's 2004 operating and financial
performance.

At the same time, Standard & Poor's affirmed its 'BB' long-term
corporate credit rating and 'ruAA' Russia national scale rating
on the company.

"The positive outlook on LUKoil, Russia's largest integrated oil
company, is supported by strongly improved financial and
operating performance in 2004," said Standard & Poor's credit
analyst Karl Nietvelt.  Cash flow generation improved
substantially, with funds from operations rising by 62% to reach
$5.5 billion, underpinned by the rising oil price environment,
but also benefiting from rising production (up 7%) and helped by
a strongly increased focus on more profitable crude exports,
improved domestic product prices, and stable production costs
despite the ruble's real inflation of 18.5% in 2004.

Standard & Poor's also views LUKoil's strategic focus on
sustained high investment levels as favorable, as it should
ensure robust long-term production growth, while shareholder
returns remain more moderate than those of peers.  As a relative
weakness, Standard & Poor's notes that LUKoil's profitability
and free cash flow generation are still below those of Russian
peers.

"An upgrade is possible in the next 12 months, if LUKoil further
improves its currently moderate free operating cash flow
generation--including through limiting working capital outlays,"
said Mr. Nietvelt. Also, despite the considerable financial
headroom currently enjoyed, we will need to monitor the impact
of any potential midsize acquisitions.  For instance, LUKoil has
expressed interest in PetroKazakhstan Inc. (B+/Stable/--) and in
the Mazeikiu refinery in Lithuania.  Such acquisitions would not
necessarily be negative if partially absorbed by free cash flow
generation and if debt levels stay comfortably below
management's maximum 30% leverage (18% at year-end 2004, defined
as debt to debt plus equity).

The rating on LUKoil is supported by its vast crude oil
reserves, massive production, and vertical integration into
refining (including outside Russia).  The rating is constrained,
however, by the general risks of the Russian oil industry,
notably a heavy and often changing tax burden that forms the
majority of total cost and limits the companies' ability to
benefit from extra export revenues if oil prices exceed
$25/barrel.  That said, LUKoil has demonstrated a reasonable tax
policy and is not expected to be exposed to material back tax
claims.

Ratings information is available to subscribers of RatingsDirect
at http://www.ratingsdirect.com. It can also be found at
http://www.standardandpoors.com. Alternatively, call one of the
following Standard & Poor's numbers: Client Support Europe (44)
20-7176-7176; 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:
media_europe@standardandpoors.com

CONTACT:  STANDARD AND POOR'S RATING SERVICES
          Group E-mail Address
          CorporateFinanceEurope@standardandpoors.com


OAO SIBNEFT: Corporate Credit Rating Upped to 'BB-'
---------------------------------------------------
Standard & Poor's Ratings Services raised its long-term
corporate credit rating on Russia-based OAO Siberian Oil Co. to
'BB-' from 'B+', following a review of the company's 2004
operating and financial performance and the relative
clarification of its shareholding situation.  The outlook is
stable.

At the same time, the national scale rating on Sibneft was
raised to 'ruAA-' from 'ruA+'.

"The rating action reflects Sibneft's strong financial and
operating performance in 2004, when free operating cash flows of
$1.3 billion--in the absence of dividends or any material
acquisitions--helped to reduce net debt to only $308 million at
end-December," said Standard & Poor's credit analyst Elena
Anankina.

Following a court decision in July 2005, Sibneft's core
shareholders have now regained control of 72% of the company (up
from 57.5%), leaving OAO NK Yukos (D/--/--) with a stake of only
20%.  This provides further comfort that Sibneft should remain
reasonably distant from the challenges faced by troubled oil
company Yukos.

"Standard & Poor's expects that, given Sibneft's continuing
solid cash flow generation in the current strong oil price
environment, the company's debt level will remain moderate even
when adjusted for the $2.3 billion dividend approved by the
board of directors," added Ms. Anankina.

The ratings also factor in the assumption that management will
maintain substantial financial headroom below the covenanted
debt level of a maximum 55% of equity.

The ratings and outlook do not assume selective sovereign
pressure or significant tax claims.  As is the case with other
large Russian companies, Sibneft's exposure cannot be
overlooked, but Standard & Poor's treats this as an event risk.
In Standard & Poor's view, Sibneft's exposure to this risk it is
not necessarily higher than that of other large Russian
companies.

Standard & Poor's will continue to monitor Sibneft's policy
regarding dividends, leverage, and investments, together with
the company's shareholding situation.  No change of control is
factored into the current ratings.

Ratings information is available to subscribers of RatingsDirect
at http://www.ratingsdirect.com. It can also be found at
http://www.standardandpoors.com. Alternatively, call one of the
following Standard & Poor's numbers: Client Support Europe (44)
20-7176-7176; 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:
media_europe@standardandpoors.com

CONTACT:  STANDARD AND POOR'S RATING SERVICES
          Group E-mail Address
          CorporateFinanceEurope@standardandpoors.com


PROGRESS-AGRO: Insolvency Manager Takes over Operation
------------------------------------------------------
The Arbitration Court of Belgorod region commenced bankruptcy
proceedings against Progress-Agro after finding the limited
liability company insolvent.  The case is docketed as A08-
14742/04-2 B.  Mr. N. Batalygin has been appointed insolvency
manager.  Creditors may submit their proofs of claim to 309530,
Russia, Belgorod, Staryj Oskol, Lenina Str. 66.

CONTACT:  PROGRESS-AGRO
          Russia, Belgorod region,
          Korochanskiy region, Melikhovo

          Mr. N. Batalygin
          Insolvency Manager
          309530, Russia, Belgorod region,
          Staryj Oskol, Lenina Str. 66


SALYMSKIY TIMBER: Undergoes Bankruptcy Supervision Procedure
------------------------------------------------------------
The Arbitration Court of Khanty-Mansiyskiy autonomous region has
commenced bankruptcy supervision procedure on limited liability
company Salymskiy Timber Combine.  The case is docketed as A75-
4689/2005.  Mr. S. Kungurov has been appointed temporary
insolvency manager.

Creditors have until Aug. 16, 2005 to submit their proofs of
claim to Russia, Tyumen region, Melnikayte Str., 106, office
222.  A hearing will take place on Nov. 21, 2005, 10:00 a.m. at
the Arbitration Court of Khanty-Mansiyskiy autonomous region
located at Russia, Tyumen region, Khokhryakova Str. 77

CONTACT:  SALYMSKIY TIMBER COMBINE
          628327, Russia, Khanty-Mansiyskiy autonomous region,
          Nefteyuganskiy region, Salym, Severnaya Str.

          Mr. S. Kungurov
          Temporary Insolvency Manager
          Russia, Tyumen region,
          Melnikayte Str. 106, Office 222


SARAPULSKIY RADIO: Appoints Interim Insolvency Manager
------------------------------------------------------
The Arbitration Court of Udmurtiya republic commenced bankruptcy
proceedings against Sarapulskiy Radio Factory - Ural-Auto after
finding the open joint stock company insolvent.  The case is
docketed as A71-172/2004-G2.  Mr. I. Solovyev has been appointed
insolvency manager.  Creditors have until Sept. 16, 2005 to
submit their proofs of claim to 426035, Russia, Udmurtiya
republic, Izhevsk, Post User Box 4405.

CONTACT:  SARAPULSKIY RADIO FACTORY - URAL-AUTO
          Russia, Udmurtiya republic,
          Sarapul, Gogolya Str. 40

          Mr. I. Solovyev
          Insolvency Manager
          426035, Russia, Udmurtiya republic,
          Izhevsk, Post User Box 4405


SLAVYANSKAYA AUTO-COLUMN: Bankruptcy Hearing Resumes Next Month
---------------------------------------------------------------
The Arbitration Court of Krasnodar region has commenced
bankruptcy supervision procedure on open joint stock company
Slavyanskaya Auto-Column.  The case is docketed as A-32-
12801/2005-27/171-B.  Mr. A. Samofal has been appointed
temporary insolvency manager.

Creditors have until Aug. 16, 2005 to submit their proofs of
claim to 353562, Russia, Krasnodar region, Slavyansk-na-Kubani,
Vokzalnaya Str. 9.  A hearing will take place on Sept. 12, 2005,
2:40 p.m.

CONTACT:  SLAVYANSKAYA AUTO-COLUMN
          Russia, Krasnodar region,
          Slavyansk-na-Kubani

          Mr. A. Samofal
          Temporary Insolvency Manager
          353562, Russia, Krasnodar region,
          Slavyansk-na-Kubani, Vokzalnaya Str. 9


UKHTA-GAS-STROY-MASH: Sets Public Auction Next Week
---------------------------------------------------
The bidding organizer of open joint stock company Ukhta-Gas-
Stroy-Mash will sell its property on Aug. 17, 2005, 3:00 p.m.
The public auction will take place at the LLC Prof-Audit,
Russia, Syktyvkar, Kolkhoznaya Str. 3A, 3rd floor.  Up for sale
are four different properties for a total price of RUB6,976,000.

The list of documentary requirements is available at LLC Prof-
Audit, 167000, Russia, Syktyvkar, Kolkhoznaya Str. 3A, 3rd
floor.  To participate, bidders must deposit an amount
equivalent to 20% of the starting price to the settlement
account 40702810900000000326 at OJSC Komeregional Bank
Ukhtabank, Ukhta, correspondent account 301018100000000730 on or
before Aug. 11, 2005.

CONTACT:  UKHTA-GAS-STROY-MASH
          169300, Russia, Komi republic,
          Ukhta, Mashinostroiteley Str. 2

          Ms. N. Vaneeva
          Bidding Organizer
          Phone: 8 (8212) 21-63-72


YUKOS OIL: Analysts Predict Sale of Entire Company
--------------------------------------------------
Russian experts believe Yukos Oil most likely will be sold as a
whole to a Kremlin-accredited company rather than brought into
bankruptcy, according to Nezavisimaya Gazeta daily.

Opportunities are not lacking to sell the company and its
subsidiaries as one, said Dmitry Tzaregorodtsev, an analyst with
Russian brokerage Rye, Man & Gor Securities.  Discussion over
the price is probably holding up the process, he said.

Yukos' main unit, Yuganskneftegaz, was sold by the government in
December to little-known firm OOO Baikalfinansgroup for US$9.35
billion (RUR260.75 billion).  The disposal was aimed at
extracting payment for the firm's US$27.5 billion tax bill for
2000-2003.  Baikal was purchased by state-owned Rosneft within
weeks.

Mr. Tzaregorodtsev said Yukos' next owner will likely be a
businessman loyal to the Kremlin, or a state-run syndicate.  A
sale, though, is unlikely to benefit foreign creditors because
Yukos has no money left, he said.

"The syndicate can do nothing more than demand that the money
received from the sale of Yukos assets be remitted to it," he
added.

CONTACT:  YUKOS OIL
          Web site: http://www.yukos.com/
          International Information Department
          Hugo Erikssen
          Phone: +7 095 540 6313
          E-mail: inter@yukos.ru

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


ZAVOLZHSKIY CHEMICAL: Declared Insolvent
----------------------------------------
The Arbitration Court of Ivanovo region commenced bankruptcy
proceedings against Zavolzhskiy Chemical Factory Named After M.
F. Frunze after finding the open joint stock company insolvent.
The case is docketed as A17-1228/04-1-B.  Mr. A. Sokolov has
been appointed insolvency manager.  Creditors have until Sept.
16, 2005 to submit their proofs of claim to 155410, Russia,
Ivanovo region, Zavolzhsk, Zavodskaya Str. 1.

CONTACT:  ZAVOLZHSKIY CHEMICAL FACTORY NAMED AFTER M. F. FRUNZE
          155410, Russia, Ivanovo region,
          Zavolzhsk, Zavodskaya Str. 1

          Mr. A. Sokolov
          Insolvency Manager
          155410, Russia, Ivanovo region,
          Zavolzhsk, Zavodskaya Str. 1


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


CONCORDIA BUS: To Discuss Latest Results Tomorrow
-------------------------------------------------
Concordia Bus AB will announce its Q4 FY2005 and Q1 FY2006
results Thursday, 11 of August.  Full-year and quarterly reports
and presentations will be available to download from
http://www.concordiabus.comafter 12 noon U.K. time, 11 August.
The call will also include a restructuring Q&A session.

The telephone details are:

Time and date: 11 of August 2005 at 16.00 (CET, Swedish time) 3
p.m. (U.K. time) and 10.00 (NY, USA time)
Duration: 120 minutes

Bridge numbers:
U.K.: +44(0)20 7162 0191
U.S.A.: +1 334 420 4950
Sweden: +46(8)8 505 201 14

(Note for local Connect dial-in-numbers- you must always dial
the area code to enter the conference)

Action replay numbers:
U.K.: +44(0)20 7031 4064, access code: 665171
U.S.A.: +1 954 334 0342, access code: 665171
Sweden: +46(0)8 505 203 33

Conference title: Concordia Bus Q4 FY2005 and Q1 FY2006
Chairperson: Norback/Skargard

                            *   *   *

Concordia Bus operates bus systems under contracts with public
transportation authorities in Sweden (through Swebus), Norway
(through SBC), and Finland (through Concordia Finland).  It has
9,000 employees annual revenue of SEK4,813 million (preliminary
full year group profit and loss ending Feb. 28, 2005), and total
net assets of SEK2,852 million.

                           The Trouble

Concordia Bus AB has failed to pay the interest coupon on its
EUR160 million ($202 million) subordinated notes.  Its
restructuring became effective July 28.  It envisages the
reduction of the face amount of all the Subordinated Notes from
100% to 25%.  It also includes third-party tender offer, a
revised consent solicitation by Nordic, the borrowing of EUR25
million bridge facility and EUR45 million mezzanine facility,
and change of control offer by certain members of the
Subordinated Ad Hoc Committee.

Company profile is available at
http://bankrupt.com/misc/Concordia_Profile.htm


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


ATOM-ELEKTROMONTAZH: Bankruptcy Supervision Starts
--------------------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
supervision procedure on LLC Atom-Elektromontazh (code EDRPOU
32506861) on May 19, 2005.  The case is docketed as 19/106(05).
Mr. Oleksandr Potapov (License Number AA 779120) has been
appointed temporary insolvency manager.  The company holds
account number 26001301191158 at JSB Prominvestbank, Energodar
branch, MFO 313098.

CONTACT:  ATOM-ELEKTROMONTAZH
          71500, Ukraine, Zaporizhya region,
          Energodar, Promzona, a/b 101

          Mr. Oleksandr Potapov
          Temporary Insolvency Manager
          71500, Ukraine, Zaporizhya region,
          Energodar, a/b 118

          ECONOMIC COURT OF ZAPORIZHYA REGION
          69001, Ukraine, Zaporizhya region,
          Shaumyana Str. 4


DIARH: Under Bankruptcy Supervision
-----------------------------------
The Economic Court of Harkiv region commenced bankruptcy
supervision procedure on LLC Diarh (code EDRPOU 23470429).  The
case is docketed as B-31/65-05.  Mr. Ivan Panasyuk (License
Number AA 779162) has been appointed temporary insolvency
manager.  The company holds account number 26000198088005 at
CB Privatbank, Harkiv branch, MFO 351533.

CONTACT:  DIARH
          61052, Ukraine, Harkiv region,
          Plastichnij Lane, 9

          Mr. Ivan Panasyuk
          Temporary Insolvency Manager
          61098, Ukraine, Poltava region,
          Poltavskij shlyah Str. 154/84

          ECONOMIC COURT OF HARKIV REGION
          61022, Ukraine, Harkiv region,
          Svobodi Square, 5, Derzhprom, 8th Entrance


GORODOK' FOOD: Starves into Bankruptcy
--------------------------------------
The Economic Court of Lviv region commenced bankruptcy
supervision procedure on LLC Gorodok' Food Products Plant (code
EDRPOU 05492077) on June 8, 2005.  The case is docketed as
6/135-5/26.  Mr. Genadij Marchuk (License Number AB 216994) has
been appointed temporary insolvency manager.  The company holds
account number 260057959 at JSPPB Aval, Lviv regional branch,
MFO 325570.

CONTACT:  GORODOK' FOOD PRODUCTS PLANT
          Ukraine, Lviv region,
          Gorodok, Parkova Str. 2

          Mr. Genadij Marchuk
          Temporary Insolvency Manager
          Ukraine, Lviv region,
          Pasichna Str. 185/7

          ECONOMIC COURT OF LVIV REGION
          79010, Ukraine, Lviv region,
          Lichakivska Str. 81


HELAL: Court Appoints Temporary Insolvency Manager
--------------------------------------------------
The Economic Court of Poltava region commenced bankruptcy
supervision procedure on Joint Ukrainian-Irish LLC Helal (code
EDRPOU 19371118) on June 23, 2005.  The case is docketed as
18/116.  Mr. Igor Avramenko (License Number AA 719839) has been
appointed temporary insolvency manager.  The company holds
account number 26002710031280 at JSCB Ukrsocbank, MFO 331014.

CONTACT:  HELAL
          Ukraine, Poltava region,
          Lidova Str. 12/9

          Mr. Igor Avramenko
          Temporary Insolvency Manager
          Ukraine, Poltava region,
          Nezalezhnosti Square, 1-B, Room 18

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


LANIVTSI' SUGAR: Temporary Insolvency Manager Steps in
------------------------------------------------------
The Economic Court of Ternopil region commenced bankruptcy
supervision procedure on OJSC Lanivtsi' Sugar Plant (code EDRPOU
00373052).  The case is docketed as 15/B-587.  Mr. Volodimir
Olenchenko (License Number AB 116262) has been appointed
temporary insolvency manager.  The company holds account number
26003055135117 at CJSC CB Privatbank, Ternopil branch.

CONTACT:  LANIVTSI' SUGAR PLANT
          Ukraine, Ternopil region,
          Lanivtsi, Vishnivetska Str. 35

          Mr. Volodimir Olenchenko
          Temporary Insolvency Manager
          Ukraine, Ternopil region,
          Protasovich Str. 8/88

          ECONOMIC COURT OF TERNOPIL REGION
          46000, Ukraine, Ternopil region,
          Ostrozski Str. 14a


MONTAZHHIMZAHIST SU: Court Names Liquidator
-------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Montazhhimzahist Su 242 (code EDRPOU
01414867) on June 23, 2005 after finding the limited liability
company insolvent.  The case is docketed as B 26/68/05.  Mr. S.
Ryabchij (License Number AA 116178) has been appointed
liquidator/insolvency manager.  The company holds account number
26005054200000 at JSCB UkrSibbank, MFO 306856.

CONTACT:  MONTAZHHIMZAHIST SU 242
          49600, Ukraine, Dnipropetrovsk region,
          Komsomolska Str. 11

          Mr. S. Ryabchij
          Liquidator/Insolvency Manager
          49700, Ukraine, Dnipropetrovsk region,
          Panikahi Str. 2

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


OLIMPEKS-COMPANY: Declared Insolvent
------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Olimpeks-Company (code EDRPOU 32109048) on
June 21, 2005 after finding the limited liability company
insolvent.  The case is docketed as B 15/469-b.  Mr. Vdovin
Maksim (License Number AA 719834) has been appointed
liquidator/insolvency manager.

CONTACT:  OLIMPEKS-COMPANY
          01000, Ukraine, Kyiv region,
          Darvin Str. 6/1

          Mr. Vdovin Maksim
          Liquidator/Insolvency Manager
          49000, Ukraine, Dnipropetrovsk region,
          Karl Marks Avenue, 83/61

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


SLAVUTA' BROADCLOTH: Succumbs to Bankruptcy
-------------------------------------------
The Economic Court of Hmelnitskij region commenced bankruptcy
supervision procedure on CJSC Slavuta' Broadcloth Factory (code
EDRPOU 00307081).  The case is docketed as 17/172-B.  Mr. Leonid
Gritsaj (License Number AB 116057) has been appointed temporary
insolvency manager.  The company holds account number
2603301260928 at Prominvestbank, Slavuta branch, MFO 315472.

CONTACT:  SLAVUTA' BROADCLOTH FACTORY
          30000, Ukraine, Hmelnitskij region,
          Slavuta, Kirov Str. 1

          Mr. Leonid Gritsaj
          Temporary Insolvency Manager
          Ukraine, Hmelnitskij region,
          Starokostyantiniv, Kotsubinskij Str. 12

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


UTA: Undergoes Bankruptcy Supervision Procedure
-----------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
supervision procedure on LLC UTA (code EDRPOU 32219215) on May
27, 2005.  The case is docketed as B 15/101/05.  Mr. Yevgen
Shevtsov (License Number AB 216778) has been appointed temporary
insolvency manager.  The company holds account number
26009302174 at CJSC Financial Union Bank, MFO 305987.

CONTACT:  UTA
          49000, Ukraine, Dnipropetrovsk region,
          Chkalov Str. 11

          Mr. Yevgen Shevtsov
          Temporary Insolvency Manager
          49069, Ukraine, Dnipropetrovsk region,
          Artema Str. 90/16

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


ZORYANE: Donetsk Court Orders Debt Moratorium
---------------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
supervision procedure on Agricultural LLC Zoryane (code EDRPOU
31999507) and ordered a moratorium on satisfaction of creditors'
claims on May 26, 2005.  The case is docketed as 27/66 B.  Mr.
I. Fedorov has been appointed temporary insolvency manager.  The
company holds account number 26009301295 at Oshadbank,
Dobropillya branch, MFO 394158.

CONTACT:  ZORYANE
          85030, Ukraine, Donetsk region,
          Dobropillya district, Krivorizhya, Radyanska str.

          Mr. I. Fedorov
          Temporary Insolvency Manager
          85000, Ukraine, Donetsk region,
          Dobropillya, a/b 715

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


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


ADMM LIMITED: Names Begbies Traynor Liquidator
----------------------------------------------
At an Extraordinary General Meeting of the Members of ADMM
Limited, duly convened, and held at the offices of Begbies
Traynor, No. 1 Old Hall Street, Liverpool L3 9HF, on Thursday 28
July 2005, the following Extraordinary Resolution was duly
passed:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
that David Moore and Donald Bailey, of Begbies Traynor, No 1 Old
Hall Street, Liverpool L3 9HF, be and are hereby appointed Joint
Liquidators for the purpose of such winding-up."

S C Williams, Director

CONTACT:  BEGBIES TRAYNOR
          No 1 Old Hall Street,
          Liverpool L3 9HF
          Phone: 0151 227 4010
          Fax:   0151 227 4009
          Web site: http://www.begbies.com


AFFILIATE MARKETING: Calls in Liquidator from Mark Goldstein
------------------------------------------------------------
Company Names:
Affiliate Marketing Limited
E-Mortgages Limited
Finance Direct.Com Limited
Ibnet Limited
Ibnet (UK) Ltd
Metatank Limited
The Deal Group (Marketing) Ltd
TheDeal.Net Limited
Webgravity Limited

At the extraordinary general meeting of these companies, duly
convened and held at Highgate Studios, London NW5 on 21 July
2005, the subjoined Special Resolution was duly passed:

"That the Companies be wound up voluntarily, and that Mark
Stephen Goldstein, Mark Goldstein Associates, Kingswood Court, 1
Hemlock Close, Kingswood, Surrey KT20 6QW, be and he is hereby
appointed Liquidator of the Companies for the purposes of such
winding-up."

A Dickson, Chairman

CONTACT:  MARK GOLDSTEIN ASSOCIATES
          Kingswood Court
          1 Hemlock Close
          Kingswood
          Surrey KT20 6QW
          Phone: 01737 830763
          Fax: 01737 83081
          E-mail: markmga@aol.com


ANGLO & OVERSEAS: Members Opt for Liquidation
---------------------------------------------
At the extraordinary general meeting of Anglo & Overseas Trust
Plc duly convened and held on 28 July 2005, the following
Resolution was duly passed as a Special Resolution:

"That the Company be wound up voluntarily, and that Adrian
Gerald Paul Howlett and Simon Peter Bower (the "Liquidators"),
of RSM Robson Rhodes LLP, of 186 City Road, London EC1V 2NU, be
and they are hereby appointed Liquidators of the Company with
power to act jointly and severally for the purpose of winding-up
the affairs and distributing the assets of the Company in
accordance with the Scheme."

R H Alcock, Chairman

CONTACT:  RSM ROBSON RHODES LLP
          186 City Road,
          London EC1V 2NU
          Phone: +44 (0) 20 7251 1644
          Fax: +44 (0) 20 7250 0801
          Web site: http://www.robsonrhodes.co.uk


APEX INTERIORS: Members Opt for Liquidation
-------------------------------------------
At an Extraordinary General Meeting of the Members of Apex
Interiors (UK) Ltd., duly convened and held at Suite B1, White
House Business Centre, Forest Road, Kingswood, Bristol BS15 8NH
on 14 July 2005, the following Resolutions were duly passed, as
an Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
John W Lewis and Terry C Evans, of J W Lewis Insolvency Services
Ltd, be and are hereby appointed Joint Liquidators for the
purpose of such winding-up."

P Latta, Director

CONTACT:  J W LEWIS & CO
          Suite B1
          White Business Centre
          Forest Road
          Kingswood
          Bristol
          Avon BS15 8NH
          Phone: 0117 947 5747
          Fax: 0117 947 5745


AUBREY STIRLING: EGM Passes Winding-up Resolution
-------------------------------------------------
At an Extraordinary General Meeting of the Members of Aubrey
Stirling (1969) Limited, duly convened and held at Hodgsons,
George House, 48 George Street, Manchester M1 4HF on 28 July
2005, the following Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Lawrence Ian Freedman, of Hodgsons, George House, 48 George
Street, Manchester M1 4HF, be and he is hereby nominated
Liquidator for the purposes of the winding-up."

R Cainer, Director

CONTACT:  HODGSONS
          George House
          48 George Street
          Manchester
          Greater Manchester M1 4HF
          Phone: 0161 228 7444
          Fax:   0161 228 735
          E-mail: dmond@hodgsons.co.uk


AUGUST EXPORT: Begbies Liquidator Moves in
------------------------------------------
At an Extraordinary General Meeting of August Export Limited,
duly convened and held at the offices of Begbies Traynor, The
Old Exchange, 234 Southchurch Road, Southend-on-Sea, Essex SS1
2EG on 22 July 2005, the subjoined Extraordinary Resolution was
duly passed:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Lloyd Biscoe, of Begbies Traynor, The Old Exchange, 234
Southchurch Road, Southend-on-Sea, Essex SS1 2EG, be and is
hereby appointed Liquidator for the purposes of such winding-
up."

R Winter

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


BOOTHBOURNE LIMITED: Names Vantis Redhead Liquidator
----------------------------------------------------
At the extraordinary general meeting of Boothbourne Limited,
duly convened and held at 82 St John Street, London EC1M 4JN on
21 July 2005, the following Resolutions were duly passed, as a
Special Resolution and as an Ordinary Resolution respectively:

"That the Company be wound up voluntarily, and that Jeremy
Stuart French, of Vantis Redhead French, 43-45 Butts Green Road,
Hornchurch, Essex RM11 2JX, be and is hereby appointed
Liquidator for the purpose of such winding-up."

D Farino, Chairman

CONTACT:  VANTIS REDHEAD FRENCH LIMITED
          43-45 Butts Green Road,
          Hornchurch, Essex RM11 2JX
          Phone: 01708 458211
          Fax: 01708 442308
          E-mail: jeremy.french@vantisredheadfrench.co.uk


BORDER COUNTIES: Members Decide to Wind up Firm
-----------------------------------------------
At an Extraordinary General Meeting of the Members of Border
Counties Electronic Services Limited, duly convened and held at
3rd Floor Regent House, Bath Avenue, Wolverhampton WV1 4EG on 28
July 2005, the following Extraordinary Resolution was duly
passed:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Mark Jonathan Botwood, of Muras Baker Jones, Regent House, Bath
Avenue, Wolverhampton WV1 4EG, be and is hereby appointed
Liquidator for the purposes of such winding-up."

J F Priest, Chairman

CONTACT:  MURAS BAKER JONES & COMPANY
          Regent House
          3rd Floor
          Bath Avenue
          Wolverhampton
          West Midlands WV1 4EG
          Phone: 01902 393007
          Fax: 01902 393010
          E-mail: mjb@muras.co.uk


C.A.T. SECURITY: No Longer Able to pay Liabilities
--------------------------------------------------
At an Extraordinary General Meeting of the Members of C.A.T.
Security Solutions Limited, duly convened and held at 26-28
Goodall Street, Walsall WS1 1QL on 25 July 2005, the following
Extraordinary Resolution was duly passed:

"That it has been proven to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Timothy Frank Corfield, of Griffin & King, 26-28 Goodall Street,
Walsall, West Midlands WS1 1QL, be and he is hereby nominated
Liquidator for the purpose of the winding-up."

Chairman

CONTACT:  GRIFFIN & KING
          26-28 Goodall Street,
          Walsall, West Midlands WS1 1QL
          Phone: 01922 722205
          Fax: 01922 639480


CONSULTANT GAS: Calls in Liquidator
-----------------------------------
At an Extraordinary General Meeting of Consultant Gas Engineers
Limited, duly convened, and held at the offices of Parkin S.
Booth & Co, 44 Old Hall Street, Liverpool L3 9EB, on 27 July
2005, at 11:00 a.m., the following Resolutions were duly passed,
as an Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Paul J Fleming, of Parkin S. Booth & Co, 44 Old Hall Street,
Liverpool L3 9EB, be and he is hereby appointed Liquidator for
the purpose of such winding-up."

P Smith, Director

CONTACT:  PARKIN S. BOOTH & CO.
          44 Old Hall Street,
          Liverpool L3 9EB
          Phone: 0151 236 4331
          Fax:   0151 255 0108
          E-mail: lp@parkinsbooth.co.uk
          Web site: http://www.parkinsbooth.co.uk


DEYMEL INVESTMENTS: Deloitte & Touche Liquidators Enter Firm
------------------------------------------------------------
At the extraordinary general meeting of Deymel Investments
Limited, duly convened, and held at Blenheim House, Newport
Road, Cardiff CF24 0TS, on 26 July 2005, at 12:00 noon, the
following Resolutions were duly passed, as a Special Resolution
and as an Ordinary Resolution respectively:

"That the Company be wound up voluntarily, and that Dominic L.
Z. Wong, of Deloitte & Touche LLP, Blenheim House, Newport Road,
Cardiff and Andrew P. Peters, of Deloitte & Touche LLP, Blenheim
House, Newport Road, Cardiff CF24 0TS, be and are hereby
appointed Joint Liquidators of the Company."

D L Morgan, Director

CONTACT:  DELOITTE & TOUCHE LLP
          Blenheim House,
          Newport Road,
          Cardiff CF24 0TS
          Web site: http://www.deloitte.com


EXPRESSWAY COMMERCIALS: Calls in Administrators from Vantis
-----------------------------------------------------------
Name: EXPRESSWAY COMMERCIALS LTD
      (Company No 4172404)

Nature of Business: Sale of Motor Vehicles

Trade Classification: 19

Date of Appointment: July 27, 2005

Joint Administrators' Names and Addresses: Alan Roy Limb (IP No
8955), of Vantis Numerica, Stoughton House, Harborough Road,
Oadby, Leicester LE2 4LP, and Jeremy Stuart French (IP No 3862),
of Vantis Redhead French, 43-45 Butts Green Road, Hornchurch,
Essex RM11 2JX

CONTACT:  VANTIS NUMERICA
          Stoughton House
          Harborough Road
          Oadby
          Leicestershire LE2 4LP
          Phone: 0116 272 8200
          Fax: 0116 271 5472

          VANTIS REDHEAD FRENCH LIMITED
          43-45 Butts Green Road,
          Hornchurch, Essex RM11 2JX
          Phone: 01708 458211
          Fax: 01708 442308
          E-mail: jeremy.french@vantisredheadfrench.co.uk


FIVE STAR: Recruitment Company Under Administration
---------------------------------------------------
Name: FIVE STAR PERSONNEL LIMITED
      (Company No 03866074)

Nature of Business: Supply of Recruitment Services

Address of Registered Office: 379 Gloucester Road, Horfield,
Bristol, Avon BS7 8TN

Date of Appointment: July 26, 2005

Administrators' Names and Address: Robert C. Keyes and Gareth W.
Roberts (IP Nos 1016 and 1162), both of Hurst Morrison Thomson,
5 Fairmile, Henley-on-Thames, Oxfordshire RG9 2JR

CONTACT:  FIVE STAR PERSONNEL LTD.
          Phone: 0117-907-5354

          HURST MORRISON THOMSON CORPORATE RECOVERY LLP
          5 Fairmile, Henley on Thames,
          Oxfordshire RG9 2JR
          Phone: +44 (0) 1491 579866
          Fax:   +44 (0) 1491 573397
          E-mail: hmt@hmtgroup.co.uk


FRESH CUT: Appoints Begbies Traynor Liquidator
----------------------------------------------
At an Extraordinary Meeting of the Members of Fresh Cut Limited,
duly convened, and held at The Strathdon Hotel, 44 Derby Road,
Nottingham NG1 5FT, on Monday 25 July 2005, the following
Resolutions were duly passed, as an Extraordinary Resolution and
as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly the Company be wound up voluntarily, and that
Richard A B Saville and Pter A Blair, of Begbies Traynor,
Regency House, 21 The Ropewalk, Nottingham NG1 5DU, be and are
hereby appointed Joint Liquidators for the purposes of such
winding-up, and that anything required or authorised to be done
by the Joint Liquidators be done by both or either of them."

CONTACT:  BEGBIES TRAYNOR
          Regency House,
          21 The Ropewalk, Nottingham NG1 5DU
          Phone: 0115 941 9899
          Fax:   0115 945 4845
          Web site: http://www.begbies.com


FTMS DIRECT: Calls in Joint Liquidators
---------------------------------------
At an Extraordinary General Meeting of FTMS DIRECT LIMITED, duly
convened, and held at the offices of Valentine & Co., 4
Dancastle Court, 14 Arcadia Avenue, London N3 2HS, on Monday 25
July 2005, the following Resolutions were duly passed, as an
Extraordinary Resolution and as Ordinary Resolutions
respectively:

"That it has been proved to the satisfaction of the Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that the Company be wound up voluntarily, that
Robert Valentine and Mark Reynolds, of Valentine & Co., 4
Dancastle Court, 14 Arcadia Avenue, London N3 2HS, be appointed
Joint Liquidators of the Company for the purposes of the
voluntary winding-up, and that the Joint Liquidators be
authorized to act jointly and severally in the liquidation."

B S Mangat, Director

CONTACT:  VALENTINE & CO.
          4 Dancastle Court
          14 Arcadia Avenue, London N3 2HS
          Phone: 020 8343 3710
          Fax: 020 9343 4486
          Web site: http://www.valentine-co.com


GLOBAL CROSSING: GCUK Begins Sr. Secured Notes Exchange Offer
-------------------------------------------------------------
Global Crossing (UK) Finance plc, a wholly owned subsidiary of
Global Crossing (Nasdaq:GLBC), has begun an exchange offer with
respect to its senior secured notes.

GCUK Finance will exchange $200 million of its 10.75% U.S.
dollar-denominated senior secured notes due in 2014 and GBP105
million of its 11.75% British pounds sterling-denominated senior
secured notes due in 2014, all of which were privately placed in
December 2004, for equivalent amounts and types of notes that
have been registered under the Securities Act of 1933, as
amended.

As is the case with the unregistered notes, the new notes will
be guaranteed by Global Crossing (UK) Telecommunications
Limited, GCUK Finance's immediate parent and the principal U.K.
operating subsidiary of Global Crossing.

The exchange offer satisfies certain obligations of the company
with respect to the registration of the notes.

This offer will expire at 5:00 p.m., London Time on Sept. 1,
2005, unless extended. The offer is made pursuant to the terms
and conditions included in GCUK Finance's prospectus dated Aug.
3, 2005.

Copies of the prospectus and other information relating to this
exchange offer are available from the exchange agent, The Bank
of New York.

This press release shall not constitute an offer to sell or the
solicitation of an offer to purchase.  No sale of these
securities shall occur in any state on which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities law of said state.

Headquartered in Florham Park, New Jersey, Global Crossing Ltd.
-- http://www.globalcrossing.com/-- provides telecommunications
solutions over the world's first integrated global IP-based
network, which reaches 27 countries and more than 200 major
cities around the globe.  Global Crossing serves many of the
world's largest corporations, providing a full range of managed
data and voice products and services.  The Company filed for
chapter 11 protection on January 28, 2002 (Bankr. S.D.N.Y. Case
No. 02-40188).  When the Debtors filed for protection from their
creditors, they listed $25,511,000,000 in total assets and
$15,467,000,000 in total debt.  Global Crossing emerged from
chapter 11 on December 9, 2003.

At March 31, 2005, GCUK's balance sheet showed a GBP170,397,000
stockholders' deficit, compared to a GBP161,565,000 deficit at
Dec. 31, 2004.


GREGSONS LIMITED: Official Receiver to Oversee Winding-up
---------------------------------------------------------
Company Name: GREGSONS LIMITED
              235 Windsor Avenue,
              Hillingdon, Uxbridge,
              Middlesex, UB10 9BD

Registration Number: 03334207

Court: Bristol District Registry

Date of Filing Petition: March 11, 2005

No. of Matter: 1298 of 2005

Date of Winding-up Order: July 13, 2005

CONTACT:  Official Receiver
          2nd Floor Kings Wharf,
          20-30 Kings Road,
          Reading, RG1 3ET
          Phone: 0118 958 1931
          Fax: 0118 950 4941/3234


HATHAWAY BUILDING: Files for Liquidation
----------------------------------------
Company Name: HATHAWAY BUILDING LIMITED
              47 Gordon Road,
              Wealdstone, Harrow,
              Middlesex, HA3 5RY

Registration Number: 04745478

Court: Bristol District Registry

Date of Filing Petition: May 18, 2005

No. of Matter: 2186 of 2005

Date of Winding-up Order: July 13, 2005

CONTACT:  Official Receiver
          21 Bloomsbury Street,
          London, WC1B 3SS
          Phone: 020 7637 1110
          Fax: 020 7637 6390


HUGHES & HUGHES: Opts to Liquidate Assets
-----------------------------------------
At an Extraordinary General Meeting of the Members of Hughes &
Hughes Limited, duly convened, and held at Winchester House,
Deane Gate Avenue, Taunton TA1 2UH, on 22 July 2005, the
following Resolutions were passed, as an Extraordinary
Resolution and as an Ordinary Resolution respectively:

"That it has been demonstrated to the satisfaction of this
Meeting that the Company cannot, by reason of its liabilities,
continue its business, and that it is advisable to wind up the
same, and accordingly that the Company be wound up voluntarily,
and that Timothy Alexander Close, of Milsted Langdon, Winchester
House, Deane Gate Avenue, Taunton TA1 2UH, be and is hereby
appointed Liquidator for the purpose of such winding-up."

A S Tipler, Chairman

CONTACT:  MILSTED LANGDON
          Winchester House
          Deane Gate Avenue
          Taunton
          Somerset TA1 2UH
          Phone: 01823 445566
          Fax: 01823 445555
          E-mail: risaacs@milsted-langdon.co.uk


I P R MANAGEMENT: Members Resolve to Liquidate Firm
---------------------------------------------------
At an Extraordinary General Meeting of the Members of I P R
MANAGEMENT LIMITED, duly convened, and held at BWC Business
Solutions, 8 Park Place, Leeds LS1 2RU, on 28 July 2005, the
following Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
David L Cockshott and Gary Edgar Blackburn, of the firm of BWC
Business Solutions, 8 Park Place, Leeds LS1 2RU, be and are
hereby appointed as Joint Liquidators for the purposes of such
winding-up."

S Worth, Chairman

CONTACT:  BWC BUSINESS SOLUTIONS
          8 Park Place
          Leeds
          West Yorkshire LS1 2RU
          Phone: 0113 243 3434
          Fax: 0113 243 5049
          E-mail: bwc@bwc-solutions.com


JOYFLOW DATA: Court Orders Winding-up
-------------------------------------
Company Name: JOYFLOW DATA LTD.
              44 Hurst Park Avenue,
              Cambridge,
              Cambridgeshire, CB4 2AE

Registration Number: 03217802

Court: Bristol District Registry

Date of Filing Petition: May 25, 2005

No. of Matter: 2234 of 2005

Date of Winding-up Order: July 20, 2005

CONTACT:  Official Receiver
          2nd Floor, Abbeygate House,
          164-167 East Road,
          Cambridge, CB1 1DB
          Phone: 01223 324480
          Fax: 01223 445310


KAOS DESIGN: Court Accepts Winding-up Petition
----------------------------------------------
Company Name: KAOS DESIGN LIMITED
              18 Octagon Street,
              Plymouth,
              Devon, PL1 1TU

Registration Number: 02602276

Court: Bristol District Registry

Date of Filing Petition: June 1, 2005

No. of Matter: 2314 of 2005

Date of Winding-up Order: July 20, 2005

CONTACT:  Official Receiver
          1st Floor, Cobourg House,
          Mayflower Street,
          Plymouth, PL1 1DJ
          Phone: 01752 635200
          Fax: 01752 635222


KINGSLAND CASH: Names Leonard Curtis Liquidator
-----------------------------------------------
At an Extraordinary General Meeting of Kingsland Cash & Carry
Limited, duly convened, and held at Leonard Curtis & Co, One
Great Cumberland Place, Marble Arch, London W1H 7LW, on 28 July
2005, the following Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of the Meeting that
this Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that N
A Bennett, of Leonard Curtis & Co, One Great Cumberland Place,
Marble Arch, London W1H 7LW, be and is hereby appointed the
Liquidator of the Company for the purposes of such winding-up."

M J Kraus, Director

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


LAURA ASHLEY: Buyout Talks Resurface
------------------------------------
One of Laura Ashley's (LONDON: ALY) owners is reportedly seeking
to buy out the company, just-style.com said on August 5.

The online newspaper identified the investor as Malaysian United
Industries, Laura's majority owner.  It is unclear why it wants
to take full control of Laura or whether other investors are
amenable to the plan, but negotiations have already begun,
according to the report.

Laura is coming off a solid year in terms of profitability and
is currently reducing its clothing operations to concentrate
more on its home furnishings business, just-style.com states.
Laura has been a target of takeover approaches in recent years.

CONTACT:  LAURA ASHLEY HOLDINGS PLC
          27 Bagleys Lane, Fulham
          London SW6 2QA, United Kingdom
          Phone: +44-20-7880-5100
          Fax: +44-20-7880-5200
          Web site: http://www.lauraashley.com


LOBSTER GROUP: Names Grant Thornton Administrator
-------------------------------------------------
Name: LOBSTER GROUP LIMITED
      (Company No 03402717)

Nature of Business: 2222 Printing Not Elsewhere Classified

Address of Registered Office: Richmond House, Walkern Road,
Stevenage, Hertfordshire SG1 3QP

Date of Appointment: July 27, 2005

Joint Administrators' Names and Address: Martin Gilbert Ellis
and Daniel Robert Whiteley Smith (IP Nos 8687 and 8373), both of
Grant Thornton UK LLP, Grant Thornton House, Melton Street,
London NW1 2EP

CONTACT:  GRANT THORNTON U.K. LLP
          Grant Thornton House
          Melton Street
          Euston Square
          London NW1 2EP
          Phone: 020 7383 5100
          Fax: 020 7383 4715
          Web site: http://www.grant-thornton.co.uk


LONDON MANSTON: Administrators from Grant Thornton Move in
----------------------------------------------------------
Name: LONDON MANSTON AIRPORT PLC
      (Company No 01472559)

Nature of Business: Landlord

Address of Registered Office: The Old Control Tower, Kent
International Airport, Manston Road, Manston, Kent CT12 5TW

Date of Appointment: July 26, 2005

Joint Administrators' Names and Address: Andrew Conquest, Joseph
Mclean and Stephen Akers (IP Nos 5329, 8903 and 711 ICAEW), all
of Grant Thornton House, Melton Street, London NW1 2EP

CONTACT:  GRANT THORNTON U.K. LLP
          Grant Thornton House
          Melton Street
          Euston Square
          London NW1 2EP
          Phone: 020 7383 5100
          Fax: 020 7383 4715
          Web site: http://www.grant-thornton.co.uk


MANTON TRANSPORT: Members Pass Winding-up Resolutions
-----------------------------------------------------
Notice is hereby given that at the extraordinary general meeting
of the members of Manton Transport Limited, duly convened, and
held at DSC Chartered Accountants, 4 Princes Square, Harrogate
HG1 1LX, the following Resolutions were duly passed, as a
Special Resolution, as an Ordinary Resolution and as an
Extraordinary Resolution respectively:

"That the Company be wound up voluntarily, that Peter O'Hara, of
O'Hara & Co, be and is hereby appointed Liquidator for the
purposes of such winding-up, and that in accordance with the
provisions of the Company's articles of association, the
Liquidator be and he is thereby authorised to divide among the
Members in specie all or any part of the assets of the Company."

A S Manton, Director

CONTACT:  O'HARA & CO.
          Wesley House
          Huddersfield Road
          Birstall
          Batley
          West Yorkshire WF17 9EJ
          Phone: 01924 477449
          Fax: 01924 475262
          E-mail: insol@ohara.co.uk


MARCONI CORPORATION: Confirms Takeover Negotiations
---------------------------------------------------
As previously announced on 3 May 2005, Marconi Corporation plc
is continuing to pursue all strategic options with the objective
of maximizing shareholder value.

These options include, among a range of alternatives,
discussions with third parties about potential business
combinations.  The discussions are at a preliminary stage and
there can be no assurance that an offer will ultimately take
place.

                            *   *   *

The Sunday Times earlier said discussions between Marconi and
Chinese partner Huawei Technologies Co., Ltd. could lead to a
takeover, valuing Marconi at more GBP600 million (EUR864
million).  If successful, it will be one of the most important
acquisitions to date of a foreign firm by a Chinese group.

With Marconi being one of the remaining major British companies
in the telecommunications industry, the possible takeover could
spark debates over the position of U.K.'s manufacturing sector,
the paper said.  It could also have political complications, as
thousands of jobs are likely to be lost to China.  This is a
very crucial issue since Marconi just axed 800 jobs in May, when
it lost its status as BT's preferred supplier, which included
Huawei.

Marconi Corporation plc has reported group revenue for the three
months ended 30 June 2005 amounted to GBP285 million, while loss
from operations reached GBP36 million after share option costs
and restructuring costs.

Mike Parton, Chief Executive, said: "We achieved solid results
in the quarter despite a very competitive marketplace.  We have
seen new wins for our next-generation products with customers
such as Cable and Wireless and Vodafone.  Our order book is
healthy.  We are reaffirming our guidance for the year.

"The management team have been rebuilding the business since
2001, initially targeting to reduce the company's debt burden
and improve our operating results.  We have achieved both of
these goals and focused the business on product and service
areas where we continue to be world class."

CONTACT:  MARCONI CORPORATION PLC
          4th Floor Regents Place
          338 Euston Rd
          London NW1 3BT
          Phone: +44-20-7493-8484
          Fax: +44-20-7493-1974
          Web site: http://www.marconi.com

          Press Enquiries
          David Beck
          Phone: 0207 306 1490
          E-mail: david.beck@marconi.com

          Investor Enquiries
          Heather Green
          Phone: 0207 306 1735
          E-mail: heather.green@marconi.com

          Karen Keyes
          Phone: 0207 306 1345
          E-mail: karen.keyes@marconi.com

          HUAWEI TECHNOLOGIES CO., LTD.
          Web site: http://www.huawei.com
          Fu Jun
          Phone: +86-755-28787530
          Fax: +86-755-28787276
          E-mail: fujun@huawei.com


MARKS & SPENCER: Could Gain from Littlewoods' Demise
----------------------------------------------------
Marks & Spencer Group plc is likely to benefit from the collapse
of the Littlewoods chain, The Guardian says.

This came as Primark bought the group's 119 stores, erasing the
latter's name from the U.K. high street market.  Littlewoods'
patrons will now shop elsewhere, particularly at M&S, and not at
Primark, according to Fashiontrak data by research group TNS.

About 60% of Littlewoods' turnover comes from customers aged 55
and above.  According to the TNS survey, about 17.5% of
Littlewoods' customers will transfer to M&S if the company
closes; 5.2% will go to Bhs, and another 3.3% to Next.

Fiona Bell, director of TNS Fashiontrak, said: "No doubt several
retailers will now be looking to refine and broaden their ranges
to try to take advantage of the potential this change in the
high street offers over the coming year."

Ms. Bell added other potential beneficiaries are Matalan, Asda
and bonmarche, the underperforming unit of the Peacock group.

CONTACT:  MARKS & SPENCER GROUP PLC
          Michael House
          47-67 Baker Street
          London
          England
          W1U 8EP
          Phone: +44 20 7935 4422
          Fax: +44 20 7487 2679
          Web site: http://www.marksandspencer.com


M & E SERVICES: Appoints Baker Tilly Liquidator
-----------------------------------------------
At an Extraordinary General Meeting of the Members of M & E
SERVICES LIMITED, duly convened, and held at Best Western
Consort Hotel, Brampton Road, Thurcroft, Rotherham, South
Yorkshire S66 9JA, on 26 July 2005, at 11:00 a.m., the following
Resolutions were duly passed, as an Extraordinary Resolution and
as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the Company,
and accordingly that the Company be wound up voluntarily, and
that Lindsey J Cooper and Stephen M Quinn, of Baker Tilly,
Brazennose House, Lincoln Square, Manchester M2 5BL, be and are
hereby appointed Joint Liquidators for the purposes of such
winding-up."

A Smithyman, Chairman

CONTACT:  BAKER TILLY
          Brazennose House,
          Lincoln Square,
          Manchester M2 5BL
          Phone: 0161 834 5777
          Fax:   0161 835 3242
          Web site: http://www.bakertilly.co.uk


NICK WATKINS: Collapses into Liquidation
----------------------------------------
Company Name: NICK WATKINS TRANSPORT LIMITED
              36 Poolway Place,
              Coleford,
              Gloucestershire, GL16 8DF

Registration Number: 04985303

Court: Gloucester

Date of Filing Petition: June 8, 2005

No. of Matter: 18 of 2005

Date of Winding-up Order: July 21, 2005

CONTACT:  Official Receiver
          21-23 London Road,
          Gloucester, GL1 3HB
          Phone: 01452 521658
          Fax: 01452 310910


OLYMPIA ENG: Liquidators from Poppleton Move in
-----------------------------------------------
At an Extraordinary General Meeting of Olympia Eng Limited, duly
convened, and held at Poppleton & Appleby, The Old Barn,
Caverswall Park, Caverswall Lane, Stoke-on-Trent, Staffordshire
ST3 6HP, on 27 July 2005, at 10:30 a.m., the following
Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Ian Michael Rose and Robert Michael Young, of Poppleton &
Appleby, The Old Barn, Caverswall Park, Caverswall Lane, Stoke-
on-Trent, Staffordshire ST3 6HP, be and are hereby appointed
Joint Liquidators for the purposes of such winding-up, and that
the Joint Liquidators be authorised to act jointly and severally
in the liquidation."

D J Mogford

CONTACT:  THE P&A PARTNERSHIP
          The Old Barn, Caverswall Park, Caverswall Lane
          Stoke on Trent ST3 6HP
          Phone: (0114) 275 5033
          Fax: (0114) 276 8556
          E-mail: info@poppletonappleby.co.uk
          Web site: http://www.thepandapartnership.com


ORONHURST LIMITED: Liquidators from Ian Holland Step in
-------------------------------------------------------
At the extraordinary general meeting of Oronhurst Limited held
at 153-155 London Road, Hemel Hempstead, Hertfordshire HP3 9SQ,
on 28 July 2005, the following Resolution was duly passed as a
Special Resolution:

"That the Company be wound up, and that Ian David Holland, of
Ian Holland + Co, The Clock House, 87 Paines Lane, Pinner,
Middlesex HA5 3BZ, be and is hereby appointed Liquidator for the
purposes of such winding-up."

CONTACT:  IAN HOLLAND & CO.
          The Clock House
          87 Paines Lane
          Pinner
          Middlesex HA5 3BZ
          Phone: 020 8866 6556
          Fax: 020 8866 7557
          E-mail: idh@ianholland.co.uk


PLANESTATION GROUP: Hires Grant Thornton as Administrator
---------------------------------------------------------
Name: PLANESTATION GROUP PLC
      (Company No 00397916)

Nature of Business: Air Traffic Control

Address of Registered Office: The Old Control Tower, Manston
Road, Manston, Kent CT12 5TW

Date of Appointment: July 26, 2005

Joint Administrators' Names and Address: Andrew Conquest, Joseph
Mclean and Stephen Akers (IP Nos 5329, 8903 and 711 ICAEW), all
of Grant Thornton House, Melton Street, London NW1 2EP

                            *   *   *

Planestation Group Plc is an international public company, based
in the United Kingdom.  It has 258 employees.  The company's
revenue amounts to US$22.9 million.  Visit
http://www.planestation.comfor more information.

CONTACT:  PLANESTATION GROUP PLC
          Phone: 44 20 7495 8686
          Fax: 44 20 7493 0189
          E-mail: info@planestation.com

          GRANT THORNTON U.K. LLP
          Grant Thornton House
          Melton Street
          Euston Square
          London NW1 2EP
          Phone: 020 7383 5100
          Fax: 020 7383 4715
          Web site: http://www.grant-thornton.co.uk


PROWELD QUALITY: Falls into Administration
------------------------------------------
At an Extraordinary General Meeting of the Members of Proweld
Quality Fabrications Limited, duly convened, and held at 1640
Parkway, Solent Business Park, Whiteley, Fareham, Hampshire, on
27 July 2005, the following Resolutions were duly passed, as an
Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Peter Robin Bacon and Carl Derek Faulds, of Portland Business &
Financial Solutions Ltd, 1640 Parkway, Solent Business Park,
Whiteley, Fareham, Hampshire, be and they are hereby appointed
Joint Liquidators of the Company and that any act required or
authorised to be done by the Liquidators, is to be done by both
or either of them for the time being holding office."

P D Wiseman, Director

CONTACT:  PORTLAND BUSINESS & FINANCIAL SOLUTIONS LTD.
          1640 Parkway
          Solent Business Park
          Whiteley
          Fareham
          Hampshire PO15 7AH
          Phone: 01489 550 440
          E-mails: carl.faulds@portland-solutions.co.uk
                   james.tickell@portland-solutions.co.uk


PROWELD QUALITY: Portland Business Liquidator Enters Firm
---------------------------------------------------------
At an Extraordinary General Meeting of the Members of Proweld
Quality Vessels Limited, duly convened, and held at 1640
Parkway, Solent Business Park, Whiteley, Fareham, Hampshire, on
27 July 2005, the following Resolutions were duly passed, as an
Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Peter Robin Bacon and Carl Derek Faulds, of Portland Business &
Financial Solutions Ltd, 1640 Parkway, Solent Business Park,
Whiteley, Fareham, Hampshire, be and they are hereby appointed
Joint Liquidators of the Company and that any act required or
authorised to be done by the Liquidators, is to be done by both
or either of them for the time being holding office."

P D Wiseman, Director

CONTACT:  PORTLAND BUSINESS & FINANCIAL SOLUTIONS LTD.
          1640 Parkway
          Solent Business Park
          Whiteley
          Fareham
          Hampshire PO15 7AH
          Phone: 01489 550 440
          E-mails: carl.faulds@portland-solutions.co.uk
                   james.tickell@portland-solutions.co.uk


QE2 TECHNICAL: Court Orders Liquidation
---------------------------------------
Company Name: QE2 TECHNICAL SERVICES LIMITED
              Unit 1, Charter House Trading Estate,
              Sturmer Road, Haverhill,
              Suffolk, CB9 7UU

Registration Number: 04678080

Court: High Court of Justice

Date of Filing Petition: March 17, 2005

No. of Matter: 001796 of 2005

Date of Winding-up Order: May 25, 2005

CONTACT:  Official Receiver
          4th Floor, Central House,
          8 Clifftown Road,
          Southend-on-Sea,
          Essex, SS1 1AB
          Phone: 01702 602570
          Fax: 01702 602567


RENAISSANCE FILMS: Administrators Take over Operation
-----------------------------------------------------
Name: RENAISSANCE FILMS LIMITED
      (Company No 03772745)

Nature of Business: Motion Picture and Video Production

Trade Classification: 9211-Motion Picture and Video Production;
9212-Motion Picture and Video Distribution

Date of Appointment: July 22, 2005

Administrator's Name and Address: C. M. Iacovides (IP No
005428), Jeffreys Henry Jacobs, Fergusson House, 2nd Floor, 124-
128 City Road, London EC1V 2NJ

CONTACT:  JEFFREYS HENRY JACOBS
          124-128 City Road, London EC1V 2NJ
          Phone: 020 7670 9010
          Fax: 020 7670 9011
          Web site: http://www.jhj.co.uk


RETAIL MAINTENANCE: Opts for Liquidation
----------------------------------------
Company Name: RETAIL MAINTENANCE SERVICES LIMITED
              Unit 13, Zone D,
              Chelmsford Road Ind Estate,
              Chelmsford Road, Great Dunmow,
              Essex, CM6 1HD

Registration Number: 03816755

Court: High Court of Justice

Date of Filing Petition: March 24, 2005

No. of Matter: 002001 of 2005

Date of Winding-up Order: May 11, 2005

CONTACT:  Official Receiver
          4th Floor, Central House,
          8 Clifftown Road,
          Southend-on-Sea,
          Essex, SS1 1AB
          Phone: 01702 602570
          Fax: 01702 602567


ROYAL & SUN ALLIANCE: Unfazed by General Motors Lawsuit
-------------------------------------------------------
Royal & Sun Alliance Group denied a report from the Telegraph
valuing General Motors' asbestos and environmental pollution
claims suit against it at US$1 billion.

A spokesman for the company told AFX News: "There has been
absolutely no submission to the court from General Motors about
the amount of the dispute.  The references in the press are
purely speculative."

The case was brought over an alleged failure to pay out on
insurance related to alleged personal injury claims related to
asbestos.

"RSA has known about and disclosed the case for several months
now.  It believes it is without foundation.  We believe it
doesn't hinder the probability that RSA ring fences its U.S.
business," says JP Morgan analyst Gordon Aitken.

Royal & Sun Alliance is Britain's second-biggest property and
casualty insurer.

CONTACT:  ROYAL & SUNALLIANCE INSURANCE GROUP PLC
          30 Berkeley Sq.
          London
          W1J 6EW, United Kingdom
          Phone: +44-20-7636-3450
          Fax: +44-20-7636-3451
          Web site: http://www.royalsunalliance.com


SCHLAGMAN LTD.: Court Issues Winding-up Order
---------------------------------------------
Company Name: SCHLAGMAN LTD.
              124 Seymour Place,
              London, W1H 1BG

Registration Number: 03547589

Court: High Court of Justice

Date of Filing Petition: March 16, 2005

No. of Matter: 001761 of 2005

Date of Winding-up Order: June 29, 2005

CONTACT:  Official Receiver
          21 Bloomsbury Street,
          London, WC1B 3SS
          Phone: 020 7637 1110
          Fax: 020 7637 6390


SEWAN LIMITED: Hires Smith & Williamson as Liquidator
-----------------------------------------------------
At the extraordinary general meeting of Sewan Limited, duly
convened, and held at Sunburst House, Elliott Road, Bournemouth
BH11 8LT, on 22 July 2005, at 3:10 p.m., the subjoined
Resolution was duly passed as a Special Resolution:

"That the Company be wound up voluntarily, and that Gregory
Andrew Palfrey (licensed by the Institute of Chartered
Accountants in England and Wales, License Number 9060), and
Kevin James Wilson Weir (licensed by the Insolvency
Practitioners Association, License Number 9332), both of Smith &
Williamson Limited, are hereby appointed Joint Liquidators of
the Company for the purposes of such winding-up, and that any
Act may be done by them jointly or by each alone."

A Coe, Chairman

CONTACT:  SMITH & WILLIAMSON LTD.
          First Floor,
          Holbrook House, 72 Bank Street,
          Maidstone, Kent ME14 1SN
          Web site: http://www.smith.williamson.co.uk


SEYMAC AUTOMATON: Court Okays Liquidation
-----------------------------------------
Company Name: SEYMAC AUTOMATON LIMITED
              Manorway House,
              The Manorway, Stanford Le Hope,
              Essex, SS17 9PS

Registration Number: 02886119

Court: Leeds District Registry

Date of Filing Petition: May 10, 2005

No. of Matter: 488 of 2005

Date of Winding-up Order: July 12, 2005

CONTACT:  Official Receiver
          4th Floor, Central House,
          8 Clifftown Road,
          Southend-on-Sea,
          Essex, SS1 1AB
          Phone: 01702 602570
          Fax: 01702 602567


SIMBALL LIMITED: In Voluntary Liquidation
-----------------------------------------
At an Extraordinary General Meeting of the Members of Simball
Limited, duly convened, and held at Trafalgar House, Grenville
Place, London NW7 3SA, on 26 July 2005, the following
Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Jeffrey Mark Brenner, of B & C Associates, Trafalgar House,
Grenville Place, Mill Hill, London NW7 3SA, is hereby appointed
Liquidator for the purposes of such winding-up."

D J Ellis, Director

CONTACT:  B & C ASSOCIATES
          Trafalgar House
          Grenville Place
          Mill Hill
          London NW7 3SA
          Phone: 0208 906 7730
          Fax: 0208 906 7731
          E-mail: filippa@bcassociates.uk.com


SWEP LIMITED: Members Decide to Wind up Company
-----------------------------------------------
At the extraordinary general meeting of the members of Swep
Limited, duly convened, and held at the offices of Tranter
Limited, 2nd Floor, Grosvenor House, St Thomas's Place,
Stockport SK1 3TZ, on 18 July 2005, at 10:45 a.m., the following
Resolutions were duly passed, as a Special Resolution and as
Extraordinary Resolutions respectively:

"That the Company be wound up voluntarily, and that M. C. Bowker
and David A. Willis, of Jacksons Jolliffe Cork, of 33 George
Street, Wakefield WF1 1LX, be and are hereby appointed Joint
Liquidators for the purpose of such winding-up, that the Joint
Liquidators be and are hereby authorised under the provisions of
section 165 of the Insolvency Act 1986, to exercise the powers
laid down in Schedule 4 Part I of the said Act, and that the
Joint Liquidators be and are hereby authorised to divide and
distribute amongst the Members as appropriate, in specie or in
kind, the whole or any part of the assets of the Company."

G Shatwell, Chairman, A Ashton, Director

CONTACT:  JACKSON JOLLIFFE CORK
          33 George Street,
          Wakefield WF1 1LX
          Phone: 01904 652100
          Fax:   01904 635349
          Web site: http://www.jjcork.co.uk


SYSTEM CONTROL: Calls in Tenon Recovery Administrator
-----------------------------------------------------
Name: SYSTEM CONTROL SPECIALISTS LIMITED
      (Company No 03159874)

Nature of Business: Design, Manufacture, Installation,
Commissioning and Servicing of Control Systems

Address of Registered Office: Sherlock House, 73 Baker Street,
London W1U 6RD

Trade Classification: 11 Other Manufacturing

Date of Appointment: July 27, 2005

Administrators' Names and Address: Simon Robert Thomas and
Stanley Donald Burkett-Coltman (IP Nos 8920 and 9181), of Tenon
Recovery, Sherlock House, 73 Baker Street, London W1U 6RD

CONTACT:  SYSTEM CONTROL SPECIALISTS LTD
          12 Swan Units,
          Heron Road,
          Exeter, Devon EX2 7LL
          Phone: 01392444304
          Fax: 01392444533

          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


T & E PRINT: Winding-up Gets Court Approval
-------------------------------------------
Company Name: T & E PRINT FINISHING LIMITED
              Unit 2, 19 Athletic Street,
              Burnley,
              Lancashire, BB10 4LP

Registration Number: 04329766

Court: Bristol District Registry

Date of Filing Petition: June 1, 2005

No. of Matter: 2295 of 2005

Date of Winding-up Order: July 20, 2005

CONTACT:  Official Receiver
          1st Floor, Newfield House,
          Vicarage Lane,
          Blackpool, FY4 4WB
          Phone: 01253 830700
          Fax: 01253 830711


TOTAL COMMUNICATIONS: Names Kroll Liquidator
--------------------------------------------
At an Extraordinary General Meeting of Total Communications
(Hale) Limited, the following Resolutions were duly passed, as
an Extraordinary Resolution and as Ordinary Resolutions
respectively:

"That it has been proved to the satisfaction of the Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that the Company be wound up voluntarily, that S
Wilson and D J Whitehouse, of Kroll Limited, The Observatory,
Chapel Walks, Manchester M2 2HL, be appointed Joint Liquidators
of the Company for the purposes of the voluntary winding-up, and
that the Joint Liquidators be authorised to act jointly and
severally in the liquidation."

N Beresford, Chairman

CONTACT:  KROLL LIMITED
          Web site: http://www.krollworldwide.com


TROUBADOUR WINES: Members Opt for Liquidation
---------------------------------------------
At an Extraordinary General Meeting of the Members of Troubadour
Wines Limited, duly convened, and held at Cecil House, Norwood
Street, Ashford, Kent, on 27 July 2005, at 11:00 a.m., the
following Resolutions were duly passed, as an Extraordinary
Resolution and as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of the Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that the Company be wound up voluntarily, and that
Barry P Knights, of Knights & Company, Cecil House, Norwood
Street, Ashford, Kent TN23 1QU, is hereby appointed Liquidator
for the purposes of the voluntary winding-up."

P Kennedy, Chairman


WINDLESHAM GLASS: Liquidates Assets
-----------------------------------
At an Extraordinary General Meeting of the Members of Windlesham
Glass Home Improvements Limited, duly convened, and held at
Holiday Inn Farnborough, Lynchford Road, Farnborough GU14 6AZ,
on 27 July 2005, the following Resolutions were duly passed, as
an Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Lisa Hogg and David Field, of Wilson Field, The Annexe, The
Manor House, 260 Ecclesall Road South, Sheffield S11 9PS, be and
are hereby appointed Joint Liquidators for the purposes of such
winding-up."

A Foden, Director

CONTACT:  WILSON FIELD
          The Annexe
          The Manor House
          260 Ecclesall Road South
          Sheffield
          South Yorkshire S11 9UZ
          Phone: 0114 235 6780
          Fax: 0114 262 0661


                            *********


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

Copyright 2005.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
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