/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/051208.mbx T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Thursday, December 8, 2005, Vol. 6, No. 243 Headlines C Z E C H R E P U B L I C VSEOBECNA ZDRAVOTNI: Parliament to Probe Financial Mismanagement F R A N C E ALSTOM SA: To Sign EUR450 Million Power Plant Deal ALSTOM SA: Bids for Chinese Railway Contract LBC HOLDINGS: Reports EUR5.351 Million Loss G E R M A N Y BLUM VERWALTUNGS: Under Bankruptcy Administration DAIMLERCHRYSLER AG: November U.S. Sales Down 3% DMF-HAUS: Dresden Court Appoints HWW Administrator D+R IMMOBILIEN: Creditors' Claims Due Later this Month ENTERTAINMENT FACTORY: Court to Verify Claims April FLIESEN GMBH: Bochum Company Goes Bust JENOPTIK AG: Loses Key Board Member to M+W Zander KU ROHRSANIERUNGS: Court Names Schultze & Braun Administrator MARSEILLE-KLINIKEN AG: Inks Sale-leaseback Agreement with CIT NICKEL FENSTER: Claims Filing Deadline December 28 SCHUH-VITRINE: Creditors to Meet February TBR GMBH: Buero Christ Administrator Takes over VN VERWALTUNGS: Proofs of Claim Due Next Month I T A L Y ALITALIA SPA: Selling Maintenance Unit IMPREGILO SPA: Wants to Regain Control of Fisia N E T H E R L A N D S ROYAL SHELL: Buyback Program Continues VERSATEL TELECOM: Centaurus Erects Another Obstacle to Tele2 Bid R U S S I A ALTAYSKIY TRACTOR: Under Bankruptcy Supervision CONVERSBANK CJSC: Fitch Assigns Bank Junk Ratings GALICH-BREAD: Undergoes Bankruptcy Supervision Procedure HOUSE BUILDING: Calls in Insolvency Manager INOKAR: Perm Court Opens Bankruptcy Proceedings ISKRA: Insolvency Manager Takes over Firm KASYANOVKSIY: Undergoes Bankruptcy Supervision Procedure KUZBASSKIYE INDUSTRIAL: Bankruptcy Hearing Resumes in Two Weeks MAGNITOSTROY: Court to Hear Bankruptcy Case Next Year SULINU-COAL: Claims Filing Period Ends Dec. 22 VOLGO-STEEL-CONSTRUCTION: Under Bankruptcy Supervision YUKOS OIL: Arrest Warrant for New York Lawyer Out S W E D E N CONCORDIA BUS: To Buy back EUR145,000 of 2010 Senior Sub-notes CONCORDIA BUS: Nimbus Launches Change of Control Offer for Notes U K R A I N E DUNAYIVTSI' BROADCLOTH: Declared Insolvent FARMATSIYA: Creditors' Claims Due Next Week INVESTOR-POSHUK: Insolvency Manager to Temporarily Run Business INVEST-UKR: Applies for Bankruptcy Supervision MELITOPOL' FOOD: Succumbs to Insolvency MIKRON: Goes into Liquidation PRESS CENTRE: Court Appoints Insolvency Manager U N I T E D K I N G D O M A.Y. CARS: Files for Liquidation BUTTERLEY CONSTRUCTION: Winds up After 20 Unprofitable Years CH GAS: Calls in Joint Liquidators CITY COOL: Names Benedict Mackenzie Liquidator CLOCKHOUSE 2: Appoints Liquidator from BDO Stoy Hayward CLOSURE MOULDS: Goes into Liquidation CORUS GROUP: Invests GBP153 Million in Netherlands DARTFORD RENTALS: Calls in Liquidator DREAM DOORS: Kitchen Fitter Liquidates E-QUALITAS LIMITED: Liquidator from Crane & Partners Moves in ESSEX PLANT: Appoints Begbies Traynor Liquidator F2 LEISURE: Creditors Meeting Set Friday FEDERAL-MOGUL: Court Okays U.K. Insurance Settlement Pact FIREWALKER LEISURE: Health Club Liquidates F&R DUNLOP: Tile Retailer Falls into Administration GATE GOURMET: Offers Axed Workers Severance, Option to Return GECKO LTD.: EGM Passes Winding-up Resolution HI-TEC HANDLING: Creditors Meeting Next Week HM PRECISION: Calls in Joint Liquidators HOLDEN MANUFACTURING: Creditors Meeting Set Next Week JARVIS PLC: Unit Strikes 3-year Supply Deal with Network Rail LANGBAR INTERNATIONAL: Main Investor Asks Interpol for Help LONDON & MIDLAND: Calls in PwC Liquidators PIPE ACQUISITION: S&P Rates Senior Secured Debt CCC+ RANK GROUP: Predicts Lower Second-half Profit RENTOKIL INITIAL: Completes Sale of Style Conferences RON DARBY: Names DTE Leonard Curtis Administrator ROUBI L'ROUBI: Administrators from Tenon Recovery Enter Firm SAVAGE MANUFACTURING: BDO Stoy Hayward Administrators Move in SDL (SCOTLAND): Appoints Begbies Traynor Administrator SEA CONTAINERS: Names Ian Durant Interim Chief Executive SEWSCAN THREADS: Administrators from Bridgestones Enter Firm SIMON FINCH: Creditors Meeting Set Next Week SR GENT: HSBC Bank Appoints PricewaterhouseCoopers Receiver WIGGINS FAIRFIELD: Sets Creditors Meeting December 14 WYRECROFT LIMITED: Energy Cable Manufacturer Hires Administrator ********* =========================== C Z E C H R E P U B L I C =========================== VSEOBECNA ZDRAVOTNI: Parliament to Probe Financial Mismanagement ---------------------------------------------------------------- A parliamentary commission will probe the alleged financial mismanagement at Vseobecna zdravotni pojistovna Ceske republiky (The General Health Insurance Company, VZP), Czech Happenings says. Voting 128-14, the Chamber of Deputies decided to open an investigation in April 2006. The probe is expected to center on VZP's multi-billion-crown debt. At the meeting, the opposition Civic Democratic Party (ODS) proposed that the commission also look into the legality of the administration order on VZP and into the role of the Health Ministry in incurring the debt. The Chamber, however, rejected both proposals. Mr. Rath has accused some ODS members of drawing money from VZP. In turn, the ODS filed several complaints against Mr. Rath, claiming the health minister was corrupt when he headed the Czech Doctors' Chamber (CLK). The Health Ministry placed VZP under forced administration on Nov. 10 and appointed Antonin Pecenka administrator. VZP, which operates on an annual budget of CZK200 billion, has racked up debt of CZK14 billion, which Mr. Rath has blamed on the poor performance of Ms. Musilkova. She is resigning on January 1, 2006. CONTACT: VSEOBECNA ZDRAVOTNI POJISTOVNA CESKE REPUBLIKY Orlicka 4/2020 130 00 Praha 3 Phone: 221 751 111 E-mail: info@vzp.cz Web site: http://www.vzp.cz =========== F R A N C E =========== ALSTOM SA: To Sign EUR450 Million Power Plant Deal -------------------------------------------------- Alstom S.A. has been selected for the turnkey construction of two 400 MW gas fired GT26 combined cycle power plants in Spain and associated long-term service and maintenance agreements. The corresponding contract, worth more than EUR450 million will be signed before the end of this month. Hc energia, a subsidiary of the EDP-Energias de Portugal group, has chosen ALSTOM to provide the engineering, supply, erection and commissioning of the plants along with long-term operation-supervision and maintenance services for the main power generation equipment within the plants. One unit will be built at Castejon, Navarra, where hc energia has another ALSTOM GT26 combined cycle power plant, which has been in operation for over three years. The other unit will be built at Soto de Ribera, Asturias. These new power plants will add 800MW to the capacity of the ALSTOM GT26 combined cycle power plant fleet in Spain, bringing the total to 4,000MW. These latest awards in Spain follow other recent awards for GT26-based power plants: Modugno, awarded by Energia S.p.A. in Italy; and Lingen awarded by RWE in Germany. Patrick Kron, ALSTOM's Chairman and Chief Executive Officer, said: "This repeat award of a GT26-based power plant by hc energia clearly demonstrates their satisfaction with ALSTOM technology and the performance of ALSTOM in running the O&M contract. The outstanding performance of these turbines, our strong O&M experience and our ability to build an integrated power plant, is giving us the competitive edge in the European market." * * * Headquartered in 25 Avenue Kleber, 75795 Paris Cedex 16, Alstom S.A. -- http://www.alstom.com-- is a leading maker of power- generation systems and constructs power plants, rail equipment, luxury passenger ships, naval vessels, and natural gas tankers. Other businesses include electrical drives, motors, and generators. The group generates around EUR13 billion in annual revenue and employs more than 70,000 people worldwide. As of March 2005, the group has EUR865 million in net loss and EUR1.4 billion in net debt. CONTACT: ALSTOM S.A. 25 Avenue Kleber 75795 Paris Cedex 16 Phone: +33-1-47-55-20-00 Fax: +33-1-47-55-25-99 Web site: http://www.alstom.com Press Relations G. Tourvieille/S. Gagneraud Phone: +33 1 41 49 27 13 E-mail: internet.press@chq.alstom.com Investor relations: E. Chatelain Phone: +33 1 41 49 37 38 E-mail: Investor.relations@chq.alstom.com ALSTOM SA: Bids for Chinese Railway Contract -------------------------------------------- Troubled engineering giant Alstom SA mulls bidding for a part of a 195-km high-speed railway project in China, AFX News says. An unnamed company spokesman said Alstom is interested in handling the electrical and signal aspects of the project, connecting Taiyuan and Shijiazhuang towns. China has said it would not award the project to a single contractor. The bidding would start early year and is expected to attract other engineering groups like Germany's Siemens, Japan's Kawasaki Heavy Industries and Canada's Bombardier. Alstom considers China a key target market. The country is planning to upgrade 28,000 km of railway to accommodate high-speed trains, the spokesman said, adding that "selling in China means having 70% of the production locally and importing the technology." France recently agreed to provide China EUR150 million of financing for the project. * * * Headquartered in 25 Avenue Kleber, 75795 Paris Cedex 16, Alstom S.A. -- http://www.alstom.com-- is a leading maker of power-generation systems and constructs power plants, rail equipment, luxury passenger ships, naval vessels, and natural gas tankers. Other businesses include electrical drives, motors, and generators. The group generates around EUR13 billion in annual revenue and employs more than 70,000 people worldwide. As of March 2005, the group has EUR865 million in net loss and EUR1.4 billion in net debt. CONTACT: ALSTOM S.A. 25 Avenue Kleber 75795 Paris Cedex 16 Phone: +33-1-47-55-20-00 Fax: +33-1-47-55-25-99 Web site: http://www.alstom.com LBC HOLDINGS: Reports EUR5.351 Million Loss ------------------------------------------- LBC Holdings LLC reported consolidated net loss of EUR5.351 million for the nine-months ended Sept. 30, 2005. Net sales were EUR90.610 million and total revenues EUR93.239 million. Loss from ordinary activities was EUR629,000. Net loss before minority interests was EUR4.706 million. Headquartered in Paris, France, the company operates twelve storage terminals in Europe and the USA. LBC specializes in the storage of petrochemical products with the majority of its operations in the petrochemical ports of Antwerp, Rotterdam, Le Havre, Marseille and Houston. LBC is a global leader in the petrochemical storage field. Copy of the result is available free of charge at http://bankrupt.com/misc/LBC(9Mo_2005).pdf * * * Standard & Poor's Ratings Services revised its outlook on France-based liquid chemical products storage company LBC Holdings LLC to negative from stable, reflecting the company's potentially tighter liquidity situation in the medium term if it is unable to increase its cash flow enough in 2005 and 2006, compared with 2004, or ceases to have access to credit lines when needed. At the same time, the 'B' long-term corporate credit rating on the company was affirmed. The rating continues to primarily reflect the company's very aggressive financial profile, associated with contract concentration; narrow leeway to reduce substantial fixed costs amid weaker-than-expected demand; limited visibility on EBITDA and cash flows; capital intensity; and delayed, uncertain returns. These factors are only somewhat offset by the industry's high barriers to entry and the group's EBITDA margin, historically wider than 35%. Emphasizing these challenges, LBC's 2004 EBITDA margin contracted to 33.5%, falling far short of expectations. "The negative outlook reflects our concerns regarding LBC's potentially weaker liquidity position, notably in light of LBC's obligation to seek a waiver under one of its bank covenants, raising doubts about the real availability of its revolving credit facility," said Standard & Poor's credit analyst Khaled Zitouni. "We will monitor EBITDA, free cash flow generation, compliance with covenants, and availability of undrawn, committed lines." Downward pressure on the rating could heighten if any of these key factors deteriorate. CONTACT: LBC HOLDINGS LLC Phone: +33 (1) 44 34 15 00 Fax: +33 (1) 44 34 15 01 E-mail: investors@lbctt.com Web site: http://www.lbctt.com ============= G E R M A N Y ============= BLUM VERWALTUNGS: Under Bankruptcy Administration ------------------------------------------------- The district court of Bonn opened bankruptcy proceedings against Blum Verwaltungs GmbH on November 21. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until December 30, 2005 to register their claims with court-appointed provisional administrator Dr. Jorg Nerlich. Creditors and other interested parties are encouraged to attend the meeting on February 3, 2006, 9:35 a.m. at the district court of Bonn, Insolvenzgericht, Wilhelmstrasse 21, 53111 Bonn, 1. Stock, Saal W126, 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: BLUM VERWALTUNGS GmbH Hellmaarstr. 3, 53340 Meckenheim Contact: Markus Blum, Manager Jorg Nerlich, Administrator Sternstr. 79, 53111 Bonn Phone: 0228/94 59 820 Fax: 0228/9459829 DAIMLERCHRYSLER AG: November U.S. Sales Down 3% ----------------------------------------------- DaimlerChrysler AG has reported total group sales of 178,182 passenger vehicles in the U.S. for November 2005, a 3% decrease compared to November last year. Chrysler Group, which consists of the Chrysler, Jeep and Dodge brands, posted sales of 159,898 vehicles in the U.S., a decrease of 3%. Adjusted for one more selling day in November 2005, sales fell 7%. After launching a record nine new models in 2004, the Chrysler Group continues to launch new vehicles at a brisk pace during 2005, including the all-new 2006 Jeep Commander, Dodge Ram Mega Cab and Jeep Liberty CRD. The company is currently shipping to dealers the all-new 2006 Jeep Commander, which has received enthusiastic feedback from the media and continues to sell well in the marketplace. Mercedes-Benz USA (MBUSA) posted sales of 18,284 units, down 3% compared to the same month last year. Mercedes-Benz offers the widest product portfolio in the luxury vehicle market, and the company expects to set another record year. November 2005 had 25 selling days while November 2004 had 24. CONTACT: DAIMLERCHRYSLER AG 70546 Stuttgart, Germany Phone: +49 711 17 0 Fax: +49 711 17 22244 Web site: http://www.daimlerchrysler.com DMF-HAUS: Dresden Court Appoints HWW Administrator -------------------------------------------------- The district court of Dresden opened bankruptcy proceedings against dmf-Haus.de GmbH denkmit-family-Haus on November 14. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until December 20, 2005 to register their claims with court-appointed provisional administrator Henning Schorisch. Creditors and other interested parties are encouraged to attend the meeting on January 31, 2006, 10:00 a.m. at the district court of Dresden, Saal D132, Olbrichtplatz 1, 01099 Dresden, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: DMF-HAUS.DE GmbH DENKMIT-FAMILY-HAUS Klosterbergweg 3 in 01877 Schmolln-Putzkau Henning Schorisch, Administrator HWW Wienberg Wilhelm Wasastrasse 15, 01219 Dresden Web site: http://www.hww-kanzlei.de D+R IMMOBILIEN: Creditors' Claims Due Later this Month ------------------------------------------------------ The district court of Arnsberg opened bankruptcy proceedings against D+R Immobilien- und Bautrager GmbH & Co. KG on November 11. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until December 23, 2005 to register their claims with court-appointed provisional administrator Dr. Axel Kampmann. Creditors and other interested parties are encouraged to attend the meeting on January 20, 2006, 8:30 a.m. at the district court of Arnsberg, Eichholzstrasse 4, 59821 Arnsberg, EG, 328, 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: D+R IMMOBILIEN- UND BAUTRAGER GmbH & Co. KG Hubertusstr. 3, 59757 Arnsberg Dr. Axel Kampmann, Manager Bronnerstrasse 7, 44141 Dortmund Phone: 0231/5411-0 Fax: 0231/5411-220 ENTERTAINMENT FACTORY: Court to Verify Claims April --------------------------------------------------- The district court of Charlottenburg opened bankruptcy proceedings against entertainment factory berlin GmbH Messen, Konzerte, Sportevents on November 17. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until February 9, 2006 to register their claims with court-appointed provisional administrator Knut Rebholz. Creditors and other interested parties are encouraged to attend the meeting on January 5, 2006, 10:00 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 April 6, 2006, 10:00 a.m. at the same venue. CONTACT: ENTERTAINMENT FACTORY BERLIN GmbH MESSEN KONZERTE, SPORTEVENTS Briesener Weg 76, 12623 Berlin Knut Rebholz, Administrator Cicerostr. 22, 10709 Berlin FLIESEN GMBH: Bochum Company Goes Bust -------------------------------------- The district court of Bochum opened bankruptcy proceedings against Fliesen GmbH Wattenscheid on November 24. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 5, 2006 to register their claims with court-appointed provisional administrator Uwe Hueggenberg. Creditors and other interested parties are encouraged to attend the meeting on February 9, 2006, 9:20 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: FLIESEN GmbH WATTENSCHEID Hochstrasse 47 - 49, 44866 Bochum Contact: Manfred Kuechler, Manager Bluetenweg 12, 44869 Bochum Uwe Hueggenberg, Administrator Huestrasse 34, 44787 Bochum Phone: 964 91-0 Fax: 964 91-33 JENOPTIK AG: Loses Key Board Member to M+W Zander ------------------------------------------------- Juergen Giessmann will focus on his role as chairman of the board of directors of M+W Zander Holding AG. As part of the planned separation of M+W Zander from the Jenoptik Group, he has resigned at his own request and, in agreement with the chairman of the supervisory board, from his position as member of the JENOPTIK AG executive board, effective Dec. 1, 2005, in particular to avoid possible conflict situations. Mr. Giessmann has been a part of the Jenoptik top management since Jenoptik's acquisition of the Stuttgart-based facility engineering firm M+W Zander (at the time, Meissner+Wurst GmbH+Co. KG) in 1994. Mr. Giessmann has been a member of the Jenoptik executive board since January 1996, and deputy chairman of the board and director of human resources of JENOPTIK AG since 2003. On the Jenoptik board, Mr. Giessmann was responsible for Jenoptik's largest business division, Clean Systems, represented by the M+W Zander Group. A graduate of business administration, he has run M+W Zander since 1992 and is now the chairman of the board of directors at M+W Zander Holding AG. Under his management, M+W Zander has developed from a medium-sized into a globally operating engineering and service company with the business volume increasing more than tenfold since then. In June, the JENOPTIK AG annual general meeting agreed to the board's future strategy of focusing on the Photonics business division, while separating M+W Zander from the Jenoptik Group. As hitherto, Juergen Giessmann will go on managing this process as the chairman of M+W Zander Holding AG. The executive board and the supervisory board of JENOPTIK AG would like to thank Juergen Giessmann for his years of admirable work at Jenoptik and for his fundamental contribution to the growth of the Jenoptik Group. The remaining members of the executive board, Alexander von Witzleben (chairman of the board) and Norbert Thiel will assume the responsibilities of Juergen Giessmann within the Jenoptik board. The supervisory board will also work on the assignment of responsibilities and an addition to the executive board at its regular meeting in mid-December. Curriculum Vitae: Juergen Giessmann Juergen Giessmann was born on Sept. 14, 1946 in Stuttgart, Germany. After completing his degree in business administration at the Universities of Stuttgart and Nuremberg, Mr. Giessmann worked for the RWG GmbH auditing firm in Stuttgart from 1974 to 1980, first as a managerial assistant and then as department head. In 1981, Mr. Giessmann began his work for Meissner+Wurst as the manager of the human resources and legal departments. He was promoted to deputy manager of Meissner+Wurst in 1990 and general manager in 1992. Since Jenoptik's acquisition of Meissner+Wurst in 1994, Giessmann was a member of the Jenoptik (formerly Jenoptik GmbH) managerial team. In January 1996, he was appointed to the JENOPTIK AG executive board and in June 2003 became the deputy chairman of the board of JENOPTIK AG. Juergen Giessmann has been chairman of the board of directors of M+W Zander Holding AG since January 2000, responsible for strategy, distribution, marketing and human resources as well as for the facility engineering, pharma/biotech, automation and IT service business areas. * * * In June, Fitch Ratings downgraded Jenoptik AG's Senior Unsecured rating and EUR150 million senior notes to 'B' from 'B+'. The Short-term rating is affirmed at 'B'. The Senior Unsecured rating Outlook remains Stable. The downgrade is based on Fitch's concerns over Jenoptik's corporate governance practices. In October 2004, Fitch put Jenoptik on Rating Watch Negative, following the announcement to integrate caatoosee ag, an IT company with a poor operating track record and significant liquidity problems. After discussions with Jenoptik's management, the Rating Watch was removed and the ratings affirmed, since it was deemed unlikely that the transaction would progress. CONTACT: JENOPTIK AG Investor Relations Cornelia Todt Phone/Fax: ++49(0) 3641-652290/2484 PR Markus Wild Phone/Fax: +49(0) 3641-652255/2484 Web site: http://www.jenoptik.com KU ROHRSANIERUNGS: Court Names Schultze & Braun Administrator ------------------------------------------------------------- The district court of Chemnitz opened bankruptcy proceedings against KU Rohrsanierungs GmbH on November 15. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until December 30, 2005 to register their claims with court-appointed provisional administrator Dr. Dirk Herzig. Creditors and other interested parties are encouraged to attend the meeting on February 14, 2006, 10:15 a.m. at the district court of Chemnitz, Saal 24, im Gerichtsgebaude Fuerstenstrasse 21, Chemnitz, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: KU ROHRSANIERUNGS GmbH Contact: Peter Pfadenhauer, Manager Erlsweg 3, 08340 Schwarzenberg Dr. Dirk Herzig, Administrator Schultze & Braun Promenadenstr. 3, 09111 Chemnitz Web site: http://www.schubra.de MARSEILLE-KLINIKEN AG: Inks Sale-leaseback Agreement with CIT ------------------------------------------------------------- Marseille-Kliniken AG (Prime Standard, ISIN DE 0007783003, MKA) concluded after the GE deal a second substantial sale-and-leaseback contract with the properties investor CIT Group Europe, Great Britain. This involves Marseille-Kliniken AG selling a total of 10 portfolio properties, 8 of which are from the care sector and two from the rehabilitation sector, with approximately 1,550 beds to the English investor by means of a sale-and-leaseback agreement, and at the same time renting them back in the long term. With a volume of over EUR117 million, this transaction sets another new milestone in the Marseille-Kliniken AG's strategy of concentrating primarily on the health facilities business in future, and expanding their overall bed capacity to 12,000 beds by the year 2008. Once successfully implemented, the Marseille-Kliniken AG's property portfolio will be distributed between approximately 30% facilities of their own and 70% rented facilities, and will therefore represent a ratio, which the company had set themselves as their target. With this transaction, Marseille-Kliniken AG is able to pay off long-term financial debt, it considerably improves its capital ratio, and it creates further financial scope for the implementation of its growth strategy. * * * In March, Standard & Poor's Ratings Services revised its outlook on Germany-based private healthcare provider Marseille-Kliniken AG to negative from stable, citing the weakening of the group's capital base. The 'BB-' long-term corporate credit rating was affirmed. "The outlook revision reflects our concern about the balance between equity and debt holders, as Marseille-Kliniken has continued paying out dividends despite the group's negative net result in fiscal 2004, which has further constrained the already weak capital base," said Standard & Poor's credit analyst Christian Esters. On a lease-adjusted basis, Marseille-Kliniken's net debt stood at a very aggressive 84% of capital at June 30, 2004. The very high leverage is also the result of large investment and acquisition expenses over the past few years. "We are also concerned that the currently negative contribution of the rehabilitation division to the group's performance could take longer to eradicate if the restructuring of the division proves to be more difficult than Marseille-Kliniken currently expects," said Mr. Esters. The rehabilitation division contributed 27% to group sales in 2004. The rating on Marseille-Kliniken reflects its weak financial profile, as the company is highly leveraged and posts low free operating cash flows compared with its lease-adjusted debt obligations. The rating also reflects Marseille-Kliniken's good competitive position, supported by its cost efficiency and the high quality of its facilities. The rating furthermore benefits from the highly predictable growth in future nursing-care needs. In the short term, the company's flexibility has increased following a sale-and-leaseback transaction that is generating EUR100 million cash flow for Marseille-Kliniken for 2005. Marseille-Kliniken's competitive position in the German nursing care market is supported by its cost efficiency and by the high quality of its facilities, most of which have been constructed since the 1990s or have been entirely renovated. CONTACT: MARSEILLE-KLINIKEN AG Axel Holzer, CEO Alte Jakobstrasse 79/80 10709 Berlin Phone: 030/246 32-400 Fax: 030/246 32-401 HILLERMANN CONSULTING Christian Hillermann, Investor Relations Eppendorfer Baum 5 20249 Hamburg Phone:040/414 069-13 Fax: 040/414 069-14 NICKEL FENSTER: Claims Filing Deadline December 28 -------------------------------------------------- The district court of Dresden opened bankruptcy proceedings against Nickel Fenster GmbH & Co. KG on November 16. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until December 28, 2005 to register their claims with court-appointed provisional administrator Helgi Heumann. Creditors and other interested parties are encouraged to attend the meeting on February 2, 2006, 10:15 a.m. at the district court of Dresden, Saal D131, Olbrichtplatz 1, 01099 Dresden, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: NICKEL FENSTER GmbH & Co. KG Heinrich-Heine-Str. 82 in 02943 Weisswasser Contact: Rainer Lengl, Manager Helgi Heumann, Administrator Heumann Rechtsanwalte Konigsbruecker Str. 31/33, 01099 Dresden Web site: http://www.raheumann.de SCHUH-VITRINE: Creditors to Meet February ----------------------------------------- The district court of Aachen opened bankruptcy proceedings against Schuh-Vitrine Schuh- und Lederwarenvertriebsgesellschaft mbH on November 23. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 17, 2006 to register their claims with court-appointed provisional administrator Thomas Georg. Creditors and other interested parties are encouraged to attend the meeting on February 13, 2006, 10:30 a.m. at the district court of Aachen, Augustastrasse 78-80, 52070 Aachen, 1. Etage, Sitzungssaal 14, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: SCHUH-VITRINE SCHUH- UND LEDERWARENVERTRIEBSGESELLSCHAFT mbH Arnold-Sommerfeld-Ring 40, 52499 Baesweiler Contact: Wilhelmus Henricus Maria Tiddens, Manager Dorpsstraat 20, NLD-6082 AP Buggenum Thomas Georg, Administrator Juelicher Strasse 116, 52070 Aachen TBR GMBH: Buero Christ Administrator Takes over ----------------------------------------------- The district court of Cottbus opened bankruptcy proceedings against TBR GmbH Transport-, Beforderungs- und Reiseservice on November 23. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 10, 2006 to register their claims with court-appointed provisional administrator Willi Christ. Creditors and other interested parties are encouraged to attend the meeting on February 15, 2006, 8:30 a.m. at the district court of Cottbus, Gerichtsplatz 2, 03046 Cottbus, Saal 210, 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: TBR GmbH TRANSPORT-, BEFORDERUNGS- UND REISESERVICE Finsterwalder Strasse 17, 03253 Doberlug-Kirchhain Contact: Karl Stein, Manager Willi Christ, Administrator Buero Christ Rudolf-Breitscheid-Strasse 69, 03046 Cottbus Web site: http://www.buero-christ.de VN VERWALTUNGS: Proofs of Claim Due Next Month ---------------------------------------------- The district court of Bochum opened bankruptcy proceedings against VN Verwaltungs GmbH on November 21. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 5, 2006 to register their claims with court-appointed provisional administrator Uwe Hueggenberg. Creditors and other interested parties are encouraged to attend the meeting on February 16, 2006, 8:45 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: VN VERWALTUNGS GmbH Wieschermuehlenstr. 23, 44791 Bochum Contact: Paulus Martinus Maria van Noort, Manager Uwe Hueggenberg, Administrator Huestrasse 34, 44787 Bochum Phone: 964 91-0 Fax: 964 91-33 ========= I T A L Y ========= ALITALIA SPA: Selling Maintenance Unit -------------------------------------- Alitalia S.p.A. is holding talks with Finmeccanica S.p.A. unit, Alenia Aeronautica, over the sale of its Atitech plane maintenance unit, AFX News says. According to Giovanni Contento, head of the UILM union, Alenia is particularly interested in acquiring Atitech's Grottaglie site. He predicts a deal between Alitalia and Alenia before the year ends. About Alitalia Headquartered in Viale A. Marchetti 111, 00148 Rome, Italy, Alitalia S.p.A. -- http://www.alitalia.it-- generates more than EUR4 billion in annual revenue and employs more than 20,000 people. As of December 2004, group net debt stood at EUR1.76 billion in 2004. Alitalia flies to about 80 destinations in more than 60 countries from its hubs in Rome and Milan and operates a fleet of about 185 aircraft. Despite a EUR1.4 billion state-backed restructuring in 1997 and a EUR1.4 billion capital injection two years ago, the carrier remains in deep financial crisis. Alitalia has posted an annual profit only four times in the past 16 years. A turnaround plan approved late 2004 will split the airline's flight and ground operations. The group recently completed it EUR1.009 capital hike. CONTACT: ALITALIA S.p.A. Viale A. Marchetti 111 00148 Rome, Italy Phone: +39 06 6562 2151 Fax: +39 06 6562 4733 Web site: http://www.alitalia.it ALENIA AERONAUTICA S.p.A. Via Campania, 45 00187 Rome Phone: +39 06420881 Fax: +39 42824528 Web site: http://www.alenia-aeronautica.it IMPREGILO SPA: Wants to Regain Control of Fisia ----------------------------------------------- Troubled construction group Impregilo S.p.A. is holding talks with Equinox Investment Company to acquire the latter's stake in joint venture Fisia Italimpianti, La Stampa says. Impregilo sold Fisia to wholly owned Hiatus S.p.A. for EUR280 million in late 2002. Shortly after, it sold 49% of Hiatus to Equinox for EUR39.2 million. Impregilo now wants to recover the stake. Monza prosecutors recently expanded their probe on Impregilo to include the stake sale, with focus on the price and a repurchase option. Fisia Italimpianti specializes in the fields of water treatment and desalination, among others. * * * Headquartered in Viale Italia 1, Sesto S. Giovanni, 20099 Milan, Impregilo S.p.A. -- http://www.impregilo.it-- is a leading engineering group in Italy that has existed since 1906. It generates more than EUR2.96 billion in annual revenue and employs more than 11,703 people. As of December 2004, group net result and net financial position stand at -EUR1.76 billion and -EUR499 million respectively. In June, Impregilo reached agreements with banks on: (a) The re-scheduling of short-term borrowings totaling EUR200.3 million (the banks include Banca Intesa Group, the Unicredito Group, the SanPaolo IMI Group, the Capitalia Group); and (b) The restructuring of Fisia Italimpianti debt. Fisia Italimpianti, a company under the group, agreed with a pool of banks led by Banca di Roma S.p.A. for the restructuring of a residual amount of EUR76 million on a medium-term loan granted at the time of Fisia's acquisition by Hiatus S.p.A. As of Dec. 31, 2004, Fisia has EBITDA of EUR28.8 million, net indebtedness of EUR123 million, and shareholders equity of EUR87 million. It has employees of 588. (c) The Conversion of EUR680 Million Bridging Loan used to cover the company's short-term requirement, mainly bonds that matured May and June The contract also provided a facility whereby Impregilo may convert up to EUR500 million of the bridging loan into a seven-year financing. Impregilo intends to repay the remaining EUR180 million using a portion of the proceeds raised by its EUR650 million share capital increase launched in June. Corporate restructuring specialist Lazard Freres & Co. LLC is advising Impregilo. CONTACT: IMPREGILO S.p.A. Viale Italia 1, Sesto S. Giovanni 20099 Milan Phone: +39-02-244-22111 Fax: +39-02-244-22293 Web site: http://www.impregilo.it GENERALE MOBILIARE INTERESSENZE AZIONARIE S.p.A. Via Turati n. 16/18 Milan Phone: +39-02-444-23121 Fax: +39-02-444-23120 E-mail: investor.relator@gemina.it Web site: http://www.gemina.it ===================== N E T H E R L A N D S ===================== ROYAL SHELL: Buyback Program Continues -------------------------------------- On 6 December 2005, Royal Dutch Shell plc purchased for cancellation 1,350,000 'A' Shares at a price of EUR26.89 per share. It further purchased for cancellation 480,000 'A' Shares at a price of 1,823.16 pence per share. Following the cancellation of these shares, the remaining number of 'A' Shares of Royal Dutch Shell plc will be 3,947,650,000. As of that date, 2,759,360,000 'B' Shares of Royal Dutch Shell plc were in issue. * * * Shell's buyback scheme is aimed at reviving shareholders' and investors' confidence. The buyback program follows a damaging reserves overestimation scandal last year. About the Company Royal Dutch Shell plc, incorporated in England and Wales, is headquartered in The Hague and listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 145 countries with businesses including oil and gas exploration and production; production and marketing of Liquefied Natural Gas and Gas to Liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects including wind and solar power. The Trouble Shell admitted overstating proved reserves by almost 6 billion barrels between January 2004 and February this year. This led to the ouster of three top executives, including former Chairman Philip Watts. The company was fined EUR150 million in total after investigations launched by U.S. and British regulators. Shell has since revised the method by which it calculates reserves to comply with U.S. regulations. Shell's proved reserves stood at 10.2 billion barrels at the end of 2004. CONTACT: ROYAL DUTCH/SHELL GROUP OF COMPANIES Carel van Bylandtlaan 30 2596 HR The Hague The Netherlands Phone: +31 70 377 9111 Fax: +31 70 377 3115 Web site: http://www.shell.com VERSATEL TELECOM: Centaurus Erects Another Obstacle to Tele2 Bid ---------------------------------------------------------------- Versatel Telecom International N.V. has disclosed that Centaurus Capital Limited and the other petitioners mentioned in its press release of 20 September 2005 have filed a second request for injunctive relief with the Enterprise Chamber of the court of appeals in Amsterdam. The petitioners have requested the Enterprise Chamber to prohibit Versatel to amend its existing corporate governance policy; and to appoint two supervisory board members of Versatel who will be exclusively authorized to represent Versatel in all discussions, negotiations and transactions with Tele2 companies, including the contemplated legal merger. Versatel shall oppose the requests of Centaurus and others. A hearing is scheduled before the Enterprise Chamber on Friday, 9 December 2005 at 1:00 p.m. * * * In September, Versatel received notice that a group of shareholders headed by Centaurus Capital has filed a request with the Enterprise Chamber of the court of appeals in Amsterdam for a judicial investigation into the affairs of Versatel. This is in relation to the recommended cash offers made by Tele2 Finance B.V. for all issued and outstanding ordinary shares in the capital of Versatel and for all the issued and outstanding 3.875% convertible senior notes due 2011 convertible into ordinary shares in the capital of Versatel. The other petitioners were SG Amber Fund, Arnhold & S. Bleichroeder Advisers LLC, Mellon HBV Alternative Strategies Limited and Barclays Capital Securities Limited. The Enterprise Chamber rejected all arguments underlying their requests. CONTACT: VERSATEL TELECOM INTERNATIONAL N.V. Investor Relations Department Hullenbergweg 101 1101 CL Amsterdam The Netherlands Phone: +31 20 750 2362 Fax: +31 20 750 1019 E-mail: investor.relations@versatel.com =========== R U S S I A =========== ALTAYSKIY TRACTOR: Under Bankruptcy Supervision ----------------------------------------------- The Arbitration Court of Altay region has commenced bankruptcy supervision procedure on open joint stock company Altayskiy Tractor. The case is docketed as A03-14680/05-B. Mr. V. Lyutov has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to 656049, Russia, Altay region, Barnaul, Post User Box 3503. A hearing will take place on April 12, 2006. CONTACT: ALTAYSKIY TRACTOR 658212, Russia, Altay region, Rubtsovsk, Traktornaya Str. 17 V. LYUTOV Temporary Insolvency Manager 656049, Russia, Altay region, Barnaul, Post User Box 3503 CONVERSBANK CJSC: Fitch Assigns Bank Junk Ratings ------------------------------------------------- Fitch Ratings has assigned Conversbank CJSC ratings of Long-term 'CCC+', Short-term 'C', Support '5', Individual 'D/E', and National Long-term 'B+(rus)'. The Outlooks on the Long-term and National Long-term ratings are Stable. The Long-term, Short-term and Individual ratings reflect Conversbank's limited franchise, potentially unsustainable business volumes, high concentration on both sides of the balance sheet, and certain regulatory risk inherent in some operations. At the same time, they also consider its adequate capital position, acceptable liquidity and fairly good market-risk management. Upside potential for the ratings would result from an improvement of corporate governance practices and the development of a more sustainable business franchise, diversification of business, and improvement of performance. Downside pressure may arise from a significant deterioration in asset quality or capital adequacy. Conversbank was established in 1989 and acted as a captive bank for the Russian nuclear industry until it was privatized at end-2002. The bank is now part of a wider banking group, of which it is also the holding company. Conversbank is headquartered in Moscow and currently ranks within the top 100 Russian banks, with total unconsolidated assets of US$367 million, net loans of US$191 million and shareholders equity of US$69 million at end-2004. It does not have any branches. The banking group consists of five banks in Russia and Eastern Europe: Conversbank; Conversbank Moscow (formerly Akademchembank), ENISEY Bank, Bankas Snoras, (rated 'BB-') in Lithuania, and Latvijas Krajbanka (rated 'B+') in Latvia. The group is ultimately owned by a Russian individual. At end-2004, total consolidated assets of the group (which at that date included only Conversbank and Bankas Snoras) were US$1,119 million, net assets were US$533 million and equity was US$159 million. CONTACT: CONVERSBANK CJSC 12/1 Goncharnaya Str., 109240, Moscow Phone: +7 (095) 411-6811 Fax: +7 (095) 411-6812 E-mail: info@conversbank.com FITCH RATINGS Dmitriy Piskulov Alexei Kechko James Watson, Moscow Phone: +7 095 956 9901 Media Relations Alex Clelland, London Phone: +44 20 7862 4084 Web site: http://www.fitchratings.com GALICH-BREAD: Undergoes Bankruptcy Supervision Procedure -------------------------------------------------------- The Arbitration Court of Kostroma region has commenced bankruptcy supervision procedure on limited liability company Galich-Bread. The case is docketed as A31-7312/2005-12. Mr. V. Kolesnyuk has been appointed temporary insolvency manager. A hearing will take place on January 12, 2006. CONTACT: GALICH-BREAD 157200, Russia, Kostroma region, Galich, Naberezhnaya, 117 V. KOLESNYUK Temporary Insolvency Manager 157200, Russia, Kostroma region, Galich, Naberezhnaya, 117 THE ARBITRATION COURT OF KOSTROMA REGION 156012, Russia, Kostroma region, Shagova Str. 20 HOUSE BUILDING: Calls in Insolvency Manager ------------------------------------------- The Arbitration Court of Bashkortostan republic has commenced bankruptcy supervision procedure on open joint stock company House Building Combine (TIN 5609018540). The case is docketed as A07-16040/05-G-FLE. Mr. A. Shipitsyn has been appointed temporary insolvency manager. CONTACT: HOUSE BUILDING COMBINE 460000, Russia, Orenburg, Tereshkovoy Str. 2, Apartment 3 A. SHIPITSYN Temporary Insolvency Manager 644043, Russia, Omsk, Post User Box 5222 INOKAR: Perm Court Opens Bankruptcy Proceedings ----------------------------------------------- The Arbitration Court of Perm region has commenced bankruptcy supervision procedure on close joint stock company Inokar. The case is docketed as A50-35165/2005-B. Mr. V. Tsygankov has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to 614002, Russia, Perm, Fontannaya Str. 8a. A hearing will take place on February 22, 2006, 10:00 a.m. at 617990, Russia, Perm, Lunacharskogo Str. 3-104. CONTACT: INOKAR 614068, Russia, Perm region, Danshina Str. 5 V. TSYGANKOV Temporary Insolvency Manager 614002, Russia, Perm region, Fontannaya Str. 8a ISKRA: Insolvency Manager Takes over Firm ----------------------------------------- The Arbitration Court of Novosibirsk region has commenced bankruptcy supervision procedure on open joint stock company Iskra. The case is docketed as A45-21107/05-27/286. Mr. Y. Gomerov has been appointed temporary insolvency manager. A hearing will take place on March 6, 2006, 9:30 a.m. at the Arbitration Court of Novosibirsk region at 630007, Russia, Novosibirsk, Kirova Str. 3, Room 915. CONTACT: ISKRA 632748, Russia, Novosibirsk region, Kupinskiy region, Novonikolaevka, Tsentralnaya Str. 2 Y. GOMEROV Temporary Insolvency Manager 630501, Russia, Novosibirsk region, Krasnoobsk, Post User Box 325 Phone: 348-6-77 KASYANOVKSIY: Undergoes Bankruptcy Supervision Procedure -------------------------------------------------------- The Arbitration Court of Irkutsk region has commenced bankruptcy supervision procedure on auto-repair factory Kasyanovksiy (TIN 3843000585). The case is docketed as A19-24051/05-37. Mr. P. Zhdanov has been appointed temporary insolvency manager. A hearing will take place on December 23, 2005, 11:00 a.m. CONTACT: KASYANOVKSIY Russia, Irkutsk region, Cheremkhovskiy region, Alyekhino, Truda Square, 4 P. ZHDANOV Temporary Insolvency Manager 665458, Russia, Usolye-Sibirskoye, Post Office 8, Post User Box 16 Phone/Fax: (395 43) 6-10-26 KUZBASSKIYE INDUSTRIAL: Bankruptcy Hearing Resumes in Two Weeks --------------------------------------------------------------- The Arbitration Court of Kemerovo region has commenced bankruptcy supervision procedure on limited liability company Kuzbasskiye Industrial Explosives. The case is docketed as A27-20675/2005-4. Mr. S. Shmidt has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to 650004, Russia, Kemerovo, Kavaleriyskaya Str. 76. A hearing will take place on December 19, 2005, 2:00 p.m. CONTACT: S. SHMIDT Temporary Insolvency Manager 650004, Russia, Kemerovo region, Kavaleriyskaya Str. 76 MAGNITOSTROY: Court to Hear Bankruptcy Case Next Year ----------------------------------------------------- The Arbitration Court of Chelyabinsk region has commenced bankruptcy supervision procedure on open joint stock company Magnitostroy (OGRN 1027402053755, TIN 7414000992). The case is docketed as A76-35437/05-48-230. Mr. S. Kurbyko has been appointed temporary insolvency manager. A hearing will take place on March 21, 2006 at the Arbitration Court of Chelyabinsk region. CONTACT: MAGNITOSTROY Russia, Chelyabinsk region, Magnitogorsk, Gagarina Str. 50 S. KURBYKO Temporary Insolvency Manager 454080, Russia, Chelyabinsk region, Engelsa Str. 36a THE ARBITRATION COURT OF VLADIMIR REGION 600025, Russia, Vladimir, Oktyabrskiy Pr. 14 SULINU-COAL: Claims Filing Period Ends Dec. 22 ---------------------------------------------- The Arbitration Court of Rostov region commenced bankruptcy proceedings against Sulinu-Coal after finding the close joint stock company insolvent. The case is docketed as A53-22742/2005-S2-8. Mr. A. Dolzhenko has been appointed insolvency manager. Creditors have until December 22, 2005 to submit their proofs of claim to 344007, Russia, Rostov-na-Donu, Moskovskaya Str. 68. A hearing will take place on February 6, 2006, 2:30 p.m. CONTACT: SULINU-COAL 346350, Russia, Rostov region, Krasnosulinskiy region, Zverevo, Vladimirskiy s/s, Mine #40 A. DOLZHENKO Insolvency Manager 344007, Russia, Rostov-na-Donu, Moskovskaya Str. 68 VOLGO-STEEL-CONSTRUCTION: Under Bankruptcy Supervision ------------------------------------------------------ The Arbitration Court of Tatarstan republic has commenced bankruptcy supervision procedure on building-assembly enterprise Volgo-Steel-Construction. The case is docketed as A65-18567/2005-SG4-26. Mr. A. Zakirzyanov has been appointed temporary insolvency manager. A hearing will take place on December 19, 2005, 11:50 a.m. at Russia, Kazan, Kremlin, building 1, Entrance 2, Room 12. CONTACT: VOLGO-STEEL-CONSTRUCTION Russia, Tatarstan republic, Kazan A. ZAKIRZYANOV Temporary Insolvency Manager 420073, Russia, Tatarstan republic, Kazan, Gvardeyskaya Str. 42, Post User Box 222 YUKOS OIL: Arrest Warrant for New York Lawyer Out ------------------------------------------------- The Moscow District Basmanny Court has issued a warrant of arrest for Yukos Oil lawyer Pavel Ivlev on charges of embezzlement, according to MosNews. Mr. Ivlev lives in New York and is employed by U.S. firm ALM Feldmans. In July, the Prosecutor General's Office accused him of helping Yukos evade taxes, embezzling US$2.4 billion, as well as laundering US$810 million of company money. Mr. Ivlev denies the charges. According to him, the action is retaliation for his refusal to testify against Yukos shareholders accused of fraud and tax evasion. Yukos is an oil-and-gas company headquartered in Moscow, Russia. It filed for chapter 11 protection in December 2004 (Bankr. S.D. Tex. Case No. 04-47742), but the case was dismissed in February. A few days after, its main production unit Yugansk was sold by the government to a little-known firm OOO Baikalfinansgroup for US$9.35 billion, as payment for US$27.5 billion in tax arrears for 2000-2003. The company still has US$7.5 billion in outstanding tax liabilities and US$1.3 billion in debt to banks. 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 =========== S W E D E N =========== CONCORDIA BUS: To Buy back EUR145,000 of 2010 Senior Sub-notes -------------------------------------------------------------- Concordia Bus AB (publ) (Bus) said that on October 4, 2005 holders of an aggregate principal amount of EUR159,855,000 of its 11% Senior Subordinated Notes due 2010 exchanged their Notes for shares in Bus and that such exchange constitutes a Change of Control under the indenture governing the Notes. Pursuant to Section 1015 of the Indenture, Bus on Nov. 11 commenced a Change of Control Offer for the EUR145,000 aggregate principal amount of Notes outstanding. Promptly after the close of the Change of Control Offer on December 12, 2005, Bus will, subject to the terms and conditions of the Change of Control Offer, which are included in the Change of Control Offer Document dated Nov. 11, repurchase the Notes validly tendered and not withdrawn in the Change of Control Offer for cash equal to 101% of the principal amount of Notes so tendered plus accrued interest, if any. The Change of Control Offer is being made solely pursuant to the Change of Control Offer Document, which sets forth and governs the terms and conditions of the Change of Control Offer and sets forth information about how to tender Notes. The Change of Control Document contains important information that should be read carefully before any decision is made with respect to the Change of Control Offer. The Change of Control Offer Document may be obtained from Lucid Issuer Services (Phone: +44 20 7704 0880, E-mail: Concordia@lucid-is.com). UNDER NO CIRCUMSTANCES SHALL THIS NOTICE CONSTITUTE AN INVITATION OR OFFER TO SELL OR THE SOLICITATION OF AN INVITATION OR OFFER TO BUY THE NOTES. CONTACT: CONCORDIA BUS NORDIC AB Ragnar Norback, CEO Phone: + 46 701 87 10 40 Per Skargard, CFO Phone: + 46 701 87 10 52 Web site: http://www.concordiabus.com/ CONCORDIA BUS: Nimbus Launches Change of Control Offer for Notes ---------------------------------------------------------------- Nimbus Limited, a company incorporated under the laws of Jersey (BidCo), said that on Oct. 4, 2005 holders of an aggregate principal amount of EUR159,855,000 of the 11% Senior Subordinated Notes due 2010 issued by Concordia Bus AB (Bus AB) exchanged their Subordinated Notes for shares in Bus AB (the Exchange) and that the Exchange constitutes a Change of Control Event under the indenture governing Nordic's EUR130,000,000 9.125% Senior Secured Notes due 2009. Pursuant to Section 1015 of the Indenture, BidCo commenced on Nov. 11 a Change of Control Offer. Certain holders of Notes (including those who consented to the Nordic's Amended and Restated Consent Solicitation Statement, dated July 28, 2005 and holders whose Notes were tendered to BidCo in its Offer to Purchase, dated July 28, 2005) have contractually bound themselves not to receive the Change of Control Offer. Such persons hold an aggregate principal amount of EUR129,188,000 of Notes and therefore only holders of the remaining EUR812,000 aggregate principal amount of Notes are contractually eligible to accept the Change of Control Offer. Promptly after the close of the Change of Control Offer on Dec. 12, 2005, BidCo will, subject to the terms and conditions of the Change of Control Offer which are included in the Change Offer Document dated Nov. 11, purchase the Notes of Eligible Holders validly tendered and not withdrawn in the Change of Control Offer for cash equal to 101% of the principal amount of Notes so tendered plus accrued interest, if any. The Change of Control Offer is being made solely pursuant to the Change of Control Offer Document, which sets forth and governs the terms and conditions of the Change of Control Offer and sets forth information about how to tender Notes. The Change of Control Document contains important information that should be read carefully before any decision is made with respect to the Change of Control Offer. The Change of Control Offer Document may be obtained from Lucid Issuer Services (Tel: +44 20 7704 0880, E-mail: nimbus@lucid-is.com). UNDER NO CIRCUMSTANCES SHALL THIS NOTICE CONSTITUTE AN INVITATION OR OFFER TO SELL OR THE SOLICITATION OF AN INVITATION OR OFFER TO BUY THE NOTES. CONTACT: CONCORDIA BUS NORDIC AB Ragnar Norback, CEO Phone: + 46 701 87 10 40 Per Skargard, CFO Phone: + 46 701 87 10 52 Web site: http://www.concordiabus.com/ ============= U K R A I N E ============= DUNAYIVTSI' BROADCLOTH: Declared Insolvent ------------------------------------------ The Economic Court of Hmelnitskij region commenced bankruptcy proceedings against Dunayivtsi' Broadcloth Factory (code EDRPOU 26003641) on October 28, 2005 after finding the open joint stock company insolvent. The case is docketed as 4/169-B. Mr. Viktor Matushak (License Number AA 485213) has been appointed liquidator/insolvency manager. Creditors have until December 15, 2005 to submit their proofs of claim to: (a) DUNAYIVTSI' BROADCLOTH FACTORY Ukraine, Hmelnitskij region, Dunayivtsi, Shevchenko Str. 59 (b) VIKTOR MATUSHAK Liquidator/Insolvency Manager 29008, Ukraine, Hmelnitskij region, Skovoroda Str. 14/151 (c) ECONOMIC COURT OF HMELNITSKIJ REGION 29000, Ukraine, Hmelnitskij region, Nezalezhnosti Square 1 FARMATSIYA: Creditors' Claims Due Next Week ------------------------------------------- The Economic Court of Dnipropetrovsk region commenced bankruptcy proceedings against Farmatsiya (code EDRPOU 31016877) on October 28, 2005 after finding the close joint stock company insolvent. The case is docketed as B 40/59/04. Mr. Tishkevich Vladislav has been appointed liquidator/insolvency manager. The company holds account number 26007106919057 at CB Privatbank, Dnipropetrovsk branch, MFO 305299. Creditors have until December 15, 2005 to submit their proofs of claim to: (a) FARMATSIYA 49000, Ukraine, Dnipropetrovsk region, Karl Marks Avenue 54/2 (b) TISHKEVICH VLADISLAV Liquidator/Insolvency Manager 49000, Ukraine, Dnipropetrovsk region, Ovrazhna Str. 54 (b) ECONOMIC COURT OF DNIPROPETROVSK REGION 49600, Ukraine, Dnipropetrovsk region, Kujbishev Str. 1a INVESTOR-POSHUK: Insolvency Manager to Temporarily Run Business --------------------------------------------------------------- The Economic Court of Harkiv region commenced bankruptcy proceedings against LLC Investor-Poshuk (code EDRPOU 31063123) on November 8, 2005 after finding the limited liability company insolvent. The case is docketed as B-31/80-05. Mr. Dizha Valerij (License Number AB 116288) has been appointed liquidator/insolvency manager. Creditors have until December 15, 2005 to submit their proofs of claim to: (a) INVESTOR-POSHUK Ukraine, Harkiv region, Valkivskij district, Visokopillya, Radyanska Str. 22 (b) DIZHA VALERIJ, Liquidator/Insolvency Manager 61001, Ukraine, Harkiv region, a/b 11544 (c) ECONOMIC COURT OF HARKIV REGION 61022, Ukraine, Harkiv region, Svobodi Square 5, Derzhprom 8th Entrance INVEST-UKR: Applies for Bankruptcy Supervision ---------------------------------------------- The Economic Court of Kyiv region commenced bankruptcy supervision procedure on LLC Invest-Ukr (code EDRPOU 31027242) on October 7, 2005. The case is docketed as 43/798. Mr. Taras Tarasenko (License Number AA 783074) has been appointed temporary insolvency manager. The company holds account number 26002001230001 at JSCB Nadra, Kyiv region branch, MFO 320973. Creditors have until December 15, 2005 to submit their proofs of claim to: (a) INVEST-UKR 03150, Ukraine, Kyiv region, Dimitrov Str. 16-G (b) TARAS TARASENKO Temporary Insolvency Manager 04070, Ukraine, Kyiv region, Voloska Str. 2/19V-10 (c) ECONOMIC COURT OF KYIV REGION 01030, Ukraine, Kyiv region, B. Hmelnitskij Boulevard 44-B MELITOPOL' FOOD: Succumbs to Insolvency --------------------------------------- The Economic Court of Zaporizhya region commenced bankruptcy proceedings against LLC Melitopol' Food Products and Drinks Plant (code EDRPOU 25493676) on October 17, 2005 after finding the limited liability company insolvent. The case is docketed as 19/50 (05). Mr. Rabushko Vyacheslav (License Number AA 719883) has been appointed liquidator/insolvency manager. Creditors have until December 15, 2005 to submit their proofs of claim to: (a) MELITOPOL' FOOD PRODUCTS AND DRINKS PLANT 72312Ukraine, Zaporizhya region, Melitopol, Pivnichnij Lane, 2 (b) RABUSHKO VYACHESLAV Liquidator/Insolvency Manager 72319, Ukraine, Zaporizhya region, Melitopol, Fuchik Str. 14 (c) ECONOMIC COURT OF ZAPORIZHYA REGION 69001, Ukraine, Zaporizhya region, Shaumyana Str. 4 MIKRON: Goes into Liquidation ----------------------------- The Economic Court of Lviv region commenced bankruptcy proceedings against Instrumental Plant Mikron (code EDRPOU 25549945) after finding the company insolvent. The case is docketed as 6/218-8/197. Ms. Slidzyona Nadiya (License Number AA 630095) has been appointed liquidator/insolvency manager. Creditors have until December 15, 2005 to submit their proofs of claim to: (a) MIKRON 79014, Ukraine, Lviv region, Nishinskij Str. 35 (b) SLIDZYONA NADIYA Liquidator/Insolvency Manager 79056, Ukraine, Lviv region, Novoznesenska Str. 103 (c) ECONOMIC COURT OF LVIV REGION 79010, Ukraine, Lviv region, Lichakivska Str. 81 PRESS CENTRE: Court Appoints Insolvency Manager ----------------------------------------------- The Economic Court of Kyiv region commenced bankruptcy proceedings against Press Centre (code EDRPOU 32767006) on October 31, 2005 after finding the limited liability company insolvent. The case is docketed as 15/763-b. Mr. Yurij Ulyanchuk (License Number AB 116097) has been appointed liquidator/insolvency manager. Creditors have until December 15, 2005 to submit their proofs of claim to: (a) PRESS CENTRE 03039, Ukraine, Kyiv region Chervonozoryanij Avenue 119 (b) YURIJ ULYANCHUK Liquidator/Insolvency Manager Ukraine, Kyiv region, Sichnevogo povstannya Str. 11-a/54 (c) ECONOMIC COURT OF KYIV REGION 01030, Ukraine, Kyiv region, B. Hmelnitskij Boulevard 44-B =========================== U N I T E D K I N G D O M =========================== A.Y. CARS: Files for Liquidation -------------------------------- M. Y. Rab, director of A.Y. Cars Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 8 at Gable House, 239 Regents Park Road, Finchley, London N3 3LF. S. G. Taylor, Gable House, 239 Regents Park Road, London N3 3LF was appointed liquidator. CONTACT: AY CARS LTD. 35 - 41 Lea Bridge Road Clapton Hackney London E5 9QB Phone: 0208 88068522 020 88064970 BUTTERLEY CONSTRUCTION: Winds up After 20 Unprofitable Years ------------------------------------------------------------ Butterfly Construction Ltd. has gone into liquidation after more than 20 years in business, said ICC Credit. The Birmingham-based company, founded in 1979, has remained unprofitable after three name changes and ten board departures in the last ten years. In 2002, turnover reached GBP40 million, but net result remained in the red. It entered liquidation this month with unsatisfied County Court Judgments (CCJ) worth GBP57,000. Barclays Bank plc and BDO Stoy Hayward LLP act as its banker and auditor, respectively. ICC Credit says the construction and civil engineering sector has the largest number of companies (17,000) with CCJs filed against them. The industry also led ICC Credit's annual poll of sectors with the largest number of unpaid debt, representing 2% of the total number of companies across all industries with unpaid debt. 6% of businesses in this sector are in liquidation. CONTACT: BUTTERFLY CONSTRUCTION LTD. Beaufort House, 94-96 Newhall Street Birmingham B3 1PB BARCLAYS BANK plc 1 Churchill Place London E14 5HP Phone: +44-20-7116-1000 Web site: http://www.barclays.com BDO STOY HAYWARD LLP 8 Baker St. London W1U 3LL Phone: +44-20-7486-5888 Fax: +44-20-7487-3686 Web site: http://www.bdo.co.uk CH GAS: Calls in Joint Liquidators ---------------------------------- C. Hancox, director of CH Gas Services Limited, informs that a resolution to wind up the company was passed at an EGM held on Nov. 7 at Insol House, 39 Station Road, Lutterworth, Leicestershire LE17 4AP. Richard Frank Simms and Martin Richard Buttriss of Insol House, 39 Station Road, Lutterworth, Leicestershire LE17 4AP were appointed Joint Liquidators. CONTACT: CH GAS SERVICES LTD. 42 Queens Road Coventry CV1 3DX Phone: 024 7632 0280 CITY COOL: Names Benedict Mackenzie Liquidator ---------------------------------------------- C. P. Constable, chairman of City Cool Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 10 at 5-6 The Courtyard, East Park, Crawley, West Sussex RH10 6AG. Julie P. Vahey and Graham P. Petersen of Benedict Mackenzie, 5-6 The Courtyard, East Park, Crawley, West Sussex were appointed Joint Liquidators. CONTACT: CITY COOL LTD. Halcyon Court, Spinney Lane West Chiltington Pulborough RH20 2NX West Sussex Phone: 01798 815777 Fax: 01798 812789 BENEDICT MACKENZIE 4 The Courtyard East Park Crawley West Sussex RH10 6AG Phone: 01293 410333 Fax: 01293 428530 E-mail: m.fillmore@benemack.com CLOCKHOUSE 2: Appoints Liquidator from BDO Stoy Hayward ------------------------------------------------------- Company Names: CLOCKHOUSE 2 PLC CLOCKHOUSE 3 LIMITED J. Sacks, chairman of these companies, informs that the subjoined special resolution to wind up the company was passed at an EGM held on Nov. 11 at Arenson Centre, Arenson Way, Dunstable, Bedfordshire LU5 5UL. Malcolm Cohen of BDO Stoy Hayward LLP, 8 Baker Street, London W1U 3LL was appointed liquidator. CONTACT: BDO STOY HAYWARD LLP 8 Baker Street London W1U 3LL Phone: 020 7486 5888 Fax: 020 7487 3686 E-mail: london@bdo.co.uk Web site: http://www.bdostoyhayward.co.uk CLOSURE MOULDS: Goes into Liquidation ------------------------------------- P. Ellse, chairman of Closure Moulds Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 10 at 2 Rutland Park, Sheffield S10 2PD. Graham Leslie Stuart-Harris of Barber Harrison & Platt, 2 Rutland Park, Sheffield S10 2PD was appointed liquidator. CONTACT: CLOSURE MOULDS LTD. 12 Wentworth Road Scunthorpe DN17 2AX Humberside Phone: 01724 282460 BARBER HARRISON & PLATT 2 Rutland Park Sheffield South Yorkshire S10 2PD Phone: 0114 266 7171 Fax: 0114 266 9846 E-mail: philippab@bhp.co.uk CORUS GROUP: Invests GBP153 Million in Netherlands -------------------------------------------------- Corus Group plc has unveiled a major investment of GBP153 million at IJmuiden in the Netherlands to further expand its product range capabilities for the automotive and construction markets, including Advanced High Strength Steels (AHSS). The investment in downstream processes will include a new galvanizing line and a new cold mill. The new facilities are expected to be operational in 2008. Rauke Henstra, Divisional Director Strip Products, said: "We have evaluated a number of strategic investment opportunities to further strengthen our capabilities in key customer sectors to achieve our 'Best supplier to best customer' objectives. This investment is a key element of The Corus Way, the Company's long-term strategy to reinforce the company's market position and continually improving its performance though selective and profitable internal growth opportunities." About the Company Corus Group plc is one of the world's largest metal producers with turnover of over GBP9 billion and major operating facilities in the U.K., the Netherlands, Germany, France, Norway, Belgium and Canada. Corus' four divisions comprising Strip Products, Long Products, Aluminium and Distribution & Building Systems provide innovative solutions to the construction, automotive, rail, general engineering and packaging markets worldwide. Corus has over 48,000 employees in over 40 countries and sales offices and service centers worldwide. Corus was created through the merger of British Steel plc and Koninklijke Hoogovens N.V. It suffered five years ago from the crisis in British manufacturing, which prompted it to shake up management, close plants, cut jobs, and sell assets to lower debt. Its debt was thought to stand at GBP1.6 billion in 2002. After posting a net loss of GBP458 million in 2003, it embarked on a restructuring program, signed a new EUR1.2 billion banking facility, and issued GBP307 million worth of shares. It returned to operating profit in the first quarter of 2004. The recent recovery of steel prices and the strength of the euro are expected to help it achieve relatively strong earnings. CONTACT: CORUS GROUP PLC 30 Millbank London SW1P 4WY United Kingdom Phone: +44-20-7717-4444 Fax: +44-20-7717-4455 Web site: http://www.corusgroup.com DARTFORD RENTALS: Calls in Liquidator ------------------------------------- K. Simes, director of Dartford Rentals Ltd. (t/a Longfield Radio), informs that a resolution to wind up the company was passed at an EGM held on Nov. 10 at 141 Parrock Street, Gravesend, Kent DA12 1EY. K. B. Stout, 141 Parrock Street, Gravesend, Kent DA12 1EY. Office Holder Number: 5327 was appointed liquidator. CONTACT: DARTFORD RENTALS LTD. 10 Station Road, Dartford, Kent, DA3 7QD Phone: 01474 703624 DREAM DOORS: Kitchen Fitter Liquidates -------------------------------------- D. Clark, director of Dream Doors (Northants) Ltd., informs that a resolution to wind up the company was passed at an EGM held on Nov. 11 at 15 Main Road, Grendon, Northamptonshire. R. Neil Marshman of Marshman & Co, 15 Main Road, Grendon, Northamptonshire NN7 1JW was appointed liquidator. CONTACT: DREAM DOORS (NORTHANTS) LTD. 9 St Leonards Drive Far Cotton Northants NN4 8DL Phone: 01604 677477 Fax: 07917 302262 E-mail: dreamdoorsnorthantsltd@fsmail.net Web site: http://www.dreamdoorsltd.co.uk/ E-QUALITAS LIMITED: Liquidator from Crane & Partners Moves in ------------------------------------------------------------- A. Solesbury, chairman of E-Qualitas Limited, informs that the subjoined special resolution to wind up the company was passed at an EGM held on Nov. 22 at Sussex House, 8-10 Homesdale Road, Bromley, Kent BR2 9LZ. Guy Charles David Harrison of Crane & Partners, Sussex House, 8-10 Homesdale Road, Bromley, Kent BR2 9LZ was appointed liquidator. Creditors are required on or before February 17, 2006 to send in their send their details, in writing, of any claim against the company to Guy Charles David Harrison and if so required in writing their debt or claims. CONTACT: CRANE & PARTNERS Sussex House, 8-10 Homesdale Road, Bromley, Kent BR2 9LZ Phone: 020 8464 0131 Fax: 020 8464 6018 Web site: http://www.craneandpartners.com ESSEX PLANT: Appoints Begbies Traynor Liquidator ------------------------------------------------ Essex Plant Limited informs that a resolution to wind up the company was passed at an EGM held on Nov. 9 at The Old Exchange, 234 Southchurch Road, Southend-on-Sea, Essex SS1 2EG. David Paul Hudson and Lloyd Biscoe of Begbies Traynor, The Old Exchange, 234 Southchurch Road, Southend-on-Sea, Essex SS1 2EG were appointed Joint Liquidators. CONTACT: ESSEX PLANT LTD. Machine & Plant Equipment Hire New Wick Farm, Southend On Sea, Essex, SS3 0QA Phone: 01702 580956 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 F2 LEISURE: Creditors Meeting Set Friday ---------------------------------------- Creditors of F2 Leisure Limited (Company No 4090755) will meet on December 9, 2005, 9 p.m. at Crewe Hall Hotel, Weston Road, Crewe, Cheshire CW1 6UZ. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to Clive Morris, administrator of Marshall Peters, Heskin Hall Farm, Wood Lane, Heskin, Lancashire PR7 5PA not later than 12:00 noon, December 8, 2005. CONTACT: MARSHALL PETERS Heskin Hall Farm, Wood Lane, Heskin, Lancashire PR7 5PA FEDERAL-MOGUL: Court Okays U.K. Insurance Settlement Pact --------------------------------------------------------- The U.S. Bankruptcy Court for the District of Delaware approved the settlement agreement inked by Federal-Mogul Corporation and its debtor-affiliates based in the United Kingdom, including T&N Limited and two insurers resolving the litigation and dispute over the employers' liability insurance coverage of asbestos-related claims of employees of T&N and the U.K. Debtors. A list of the 58 U.K. Debtors is available for free at http://ResearchArchives.com/t/s?36e The Employers' Liability Insurers are: (a) Royal Insurance Company, now Royal & SunAlliance; and (b) Brian Smith Syndicate at Lloyd's. The Settlement Agreement Under the EL Schemes The principal terms of the Employers' Liability Settlement are: Settlement Amount: The EL Insurers have placed GBP36,740,000 as Settlement Sum in escrow to be transferred on the effective date of the EL Schemes to a trust established Pursuant to the EL Schemes and the Trust Deed and administered by trustees in accordance with the Trust Deed and the Trust Distribution Procedures. Release: On the effective date of the EL Schemes, neither the trustees, the Scheme Proposing Companies nor the EL Claimants will be entitled to claim or assert any rights of any nature against the EL Insurers arising out of any EL Claim. Payment of Settlement Sum to EL Claimants: The Settlement Sum will be distributed in accordance with the Trust Deed and the TDP to the EL Claimants. Payments to the EL Insurers: Upon the effective date of the EL Schemes, the EL Insurers will be deemed to have received the Indemnity Rights Sum, which will be GBP1,260,000. Contribution to Costs: On the effective date of the EL Schemes, GBP2,000,000 will be released from the Settlement Sum to the Administrators to be applied by the Administrators against fees and expenses they incur in the EL Insurance Litigation. A full-text copy of the EL Scheme among T&N and the EL claimants regulating the distribution of the EL settlement fund is available for free at http://ResearchArchives.com/t/s?370 Headquartered in Southfield, Michigan, Federal-Mogul Corporation -- http://www.federal-mogul.com/-- is one of the world's largest automotive parts companies with worldwide revenue of some US$6 billion. The Company filed for chapter 11 protection on Oct. 1, 2001 (Bankr. Del. Case No. 01-10582). Lawrence J. Nyhan Esq., James F. Conlan Esq., and Kevin T. Lantry Esq., at Sidley Austin Brown & Wood, and Laura Davis Jones Esq., at Pachulski, Stang, Ziehl, Young, Jones & Weintraub, P.C., represent the Debtors in their restructuring efforts. When the Debtors filed for protection from their creditors, they listed US$10.15 billion in assets and US$8.86 billion in liabilities. At Mar. 31, 2005, Federal-Mogul's balance sheet showed a US$2.048 billion stockholders' deficit, compared to a US$1.926 billion deficit at Dec. 31, 2004. Federal-Mogul Corp.'s U.K. affiliate, Turner & Newall, is based at Dudley Hill, Bradford. (Federal-Mogul Bankruptcy News, Issue No. 98; Bankruptcy Creditors' Service, Inc., 215/945-7000) FIREWALKER LEISURE: Health Club Liquidates ------------------------------------------ Kirkwood Walker, chairman of Firewalker Leisure Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 10 at Birmingham Chamber of Commerce, 75 Harborne Road, Birmingham B15 3DH. Alisdair J. Findlay of Findlay James, Saxon House, Saxon Way, Cheltenham GL52 6QX was appointed liquidator. Health club Firewalker Leisure has a membership of 1,500, 45% of whom are women. It has a Slim and Fit Club and special deals for senior citizens. It also has a nursery, beauty therapist, life coach and a Malaysian restaurant. It provides stress busting and team-building courses for businesses. CONTACT: FIREWALKER LEISURE LTD. 1 Salisbury Street Wolverhampton West Midlands WV3 0BG Phone: (01902 311800) FINDLAY JAMES Saxon House Saxon Way Cheltenham Gloucestershire GL52 6QX Phone: 01242 576555 Fax: 01242 576999 E-mail: ajf@finjam.com F&R DUNLOP: Tile Retailer Falls into Administration --------------------------------------------------- Rob Lewis and Derek Howell of PricewaterhouseCoopers were appointed joint administrators of F&R Dunlop Services Limited, trading as Tiles R Us, on 5 December 2005. Tiles R Us is a retailer of tiles, bathrooms, kitchens and domestic appliances headquartered in Bridgend, South Wales and operating a network of over 90 retail stores throughout the U.K. Annual turnover is around GBP40 million. Following their appointment the joint administrators will continue to trade the company whilst implementing an operational restructuring plan and seeking to agree a financial restructuring plan with the company's creditors. Immediately following the appointment of administrators, 30 stores were closed and as a consequence 131 of the company's 450 staff have been made redundant. Customers who are concerned about out standing orders should contact their local store in the first instance or alternatively the company's customer care helpline on 08707 775533. Rob Lewis, joint administrator and director at PricewaterhouseCoopers, said: "Tiles R Us is one of the largest tile retailers in the U.K. and the administrators intend to seek a solution that allows as much of the business to survive as possible. Unfortunately however it has been necessary to close 30 stores and as a consequence 131 people have been made redundant. "This restructuring should improve the prospects of the remaining business, and should provide a significantly better outcome than could be delivered if the business had ceased trading. Provided that a workable solution can be agreed with creditors then the restructured business has a good prospect of trading successfully in the future. "In the meantime we would ask for the support of all of the company's employees and suppliers during the period of administration in order to provide the administrators with the best chance of securing the survival of the company as a going concern." CONTACT: F&R DUNLOP SERVICES LIMITED Tottenham Hale Retail Park Broad Lane London N15 4QD Phone: 020-8808-8022 PRICEWATERHOUSECOOPERS Jenny Britton Business Recovery Services PR Manager Phone: 020 7212 2970 Mobile: 07855 522485 Rob Lewis Director Phone: 029 2064 3236 GATE GOURMET: Offers Axed Workers Severance, Option to Return ------------------------------------------------------------- Gate Gourmet has started rehiring and paying voluntary compensation to workers under a labor agreement struck in September. According to Caterer Search, 19 workers have received payments, and 16 have received offers to return to work after their dismissal in August because of wildcat strikes. The T&G union believes about 200 staff have been given the option of returning or taking severance pay. According to a Gate Gourmet spokesman, the firm might call back up to 300 workers. 667 strikers were sacked in August. The company is still cutting 670 jobs to improve the performance of its U.K. operation. Piqued by Gate Gourmet's decision to cut jobs and hire temporary seasonal workers, several employees staged a walkout in August, which resulted in their dismissal and triggered a sympathy strike by British Airways workers at Heathrow. Gate Gourmet is owned by U.S. private equity firm Texas Pacific Group. It has dual headquarters in Reston, Va., and Zurich, Switzerland and employs 22,000 people in 29 countries. Its U.K. operations lost GBP22 million in 2004; a further GBP25 million in losses is expected this year. The company has not made a profit since 2000. The firm's restructuring adviser is Weil Gotshal & Manges partners Chris Mallon in London and Steve Karotkin in the U.S. Clarks Legal Services, of which Michael Sippitt is managing partner, is advising the company on employment issues. Latham & Watkins London is advising mezzanine debtors. The Latham team is composed of John Houghton, together with corporate partners Ian Clark and Charles Fuller, employment partner Stephen Brown and New York restructuring partner Mitchell Seider. The senior creditors are advised by Bingham McCutchen partner Barry Russell. CONTACT: GATE GOURMET U.K. & IRELAND Phone: 0208 5135013 Mobile: 07810 561816 Web site: http://www.gategourmet.com BINGHAM MCCUTCHEN 99 Gresham Street London, England EC2V 7HG Web site: http://www.bingham.com/bingham/default.asp LATHAM & WATKINS 99 Bishopsgate London EC2M 3XF England Phone: +44-20-7710-1000 Fax: +44-20-7374-4460 Web site: http://www.lw.com/ WEIL GOTSHAL & MANGES One South Place London EC2M 2WG, England Phone: +44 20 7903 1000 Fax: +44 20 7903 0990 Web site: http://www.weil.com/ CLARKS LEGAL SERVICES 12 Henrietta Street Covent Garden London WC2E 8LH England Phone: 020 7 539 8000 Fax: 020 7 539 8001 Web site: http://www.clarkslegal.com/ GECKO LTD.: EGM Passes Winding-up Resolution -------------------------------------------- S. Dean, director of Gecko Ltd., informs that a resolution to wind up the company was passed at an EGM held on Nov. 7 at 8-10 Eastern Road, Romford, Essex RM1 3PJ. Keith Barry Stout of KSA, 8-10 Eastern Road, Romford, Essex RM1 3PJ was appointed liquidator. CONTACT: GECKO LTD. Granville Way, Bicester Oxfordshire OX26 4JT Phone: 01869246163 HI-TEC HANDLING: Creditors Meeting Next Week -------------------------------------------- Creditors of Hi-Tec Handling Ltd. (Company No 03867125) will meet on December 12, 2005, 10:30 a.m. at Monahans, 38-42 Newport Street, Swindon SN1 3DR. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to P. M. McConnell, administrator of Monahans, 38-42 Newport Street, Swindon SN1 3DR not later than 12:00 noon, December 9, 2005. CONTACT: MONAHANS 38-42 Newport Street Swindon Wiltshire SN1 3DR Phone: 01793 521231 Fax: 01793 512188 E-mail: paulm@monahans.co.uk HM PRECISION: Calls in Joint Liquidators ---------------------------------------- S. Holford, chairman of HM Precision Fabrications Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 9 at The Holiday Inn, Clayton Road, Newcastle, Staffordshire ST5 4DL. Peter Jones and Roderick M. Withinshaw of Royce Peeling Green Limited, The Copper Room, Deva Centre, Trinity Way, Manchester M3 7BG were appointed Joint Liquidators. CONTACT: HM PRECISION FABRICATIONS LIMITED Units 6-7 Grove Road Industrial Estate Grove Road Stoke-On-Trent ST4 4LG United Kingdom Phone: (01782) 333595 Fax: (01782) 330584 ROYCE PEELING GREEN The Copper Room Deva Center, Trinity Way, Manchester M3 7BG Phone: 0161 6080000 Fax: 0161 608 0001 E-mail: info@rpg.co.uk Web site: http://www.rpg.co.uk HOLDEN MANUFACTURING: Creditors Meeting Set Next Week ----------------------------------------------------- Creditors of Holden Manufacturing Limited (Company No 2719233) will meet on December 12, 2005, 12 noon at The Holiday Inn, Carburton Street, London W1W 5EE. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to Bernard Hoffman and Ian Douglas Yerrill of Kent House, Station Road, Ashford, Kent TN23 1PP not later than 12:00 noon, December 9, 2005. CONTACT: GERALD EDELMAN BUSINESS RECOVERY Phone: 020 7299 1400 Fax: 020 7637 1440 E-mails: bhoffman@GeraldEdelman.com insolvency@edelman.co.uk JARVIS PLC: Unit Strikes 3-year Supply Deal with Network Rail ------------------------------------------------------------- Fastline Ltd., a unit of Jarvis plc, has signed a multi-million-pound contract with Network Rail for the delivery of on-track machines, as part of a three-year contract, with options to extend up to five years. The contract will be worth GBP22 million in the first year. The Fastline contract, which will start in April 2006, is part of Network Rail's national tender for 107 tampers, regulators and dynamic track stabilizers. Fastline will supply a good proportion of the on-track machines. Fastline is one of a number of companies to be awarded contracts under the tender. Statement of Managing Director Michael Houghton This contract represents Fastline's growing reputation within the rail infrastructure services industry for high quality, innovative, cost-effective and high performance equipment. It is a testament to the hard work of the Fastline team that we have secured a significant part of the tender. We are delighted to play a part in Network Rail's drive to achieve the most effective, reliable and efficient way of managing the rail infrastructure. While Fastline has an extensive range of on-track machines across the U.K. rail network, we also take an innovative approach to technology development, designing and producing niche rail products that deliver proven efficiencies for our customer. We will be working very hard to provide Network Rail with the quality and service they require to meet their targets, and in turn to secure further extensions to this contract. We will be working very hard to provide Network Rail with the quality and service they require to meet their targets, and in turn to secure further extensions to this contract. CONTACT: JARVIS PLC Meridian House The Crescent York YO24 1AW Phone: +44-20-7017-8000 Fax: +44-20-7017-0083 Web site: http://www.jarvisplc.com LANGBAR INTERNATIONAL: Main Investor Asks Interpol for Help ----------------------------------------------------------- Corporate investigations firm Kroll suspects serious fraud at Langbar International, formerly Crown Corporation, according to Times Online. Kroll could not account for some GBP365 million of the company's cash deposits, the report said. Stuart Pearson, Langbar's chief executive, has asked the Serious Fraud Office to investigate the matter. Last year, Langbar's auditor Baker Tilly refused to sign the firm's accounts and subsequently resigned over the wide-ranging role of major shareholder Abraham "Avi" Arad. Mr. Arad arranged the initial GBP150 million backing for Crown in 2003 and set up its biggest deals. He invested in Crown via investment vehicle Lambert Financial, taking a 59% stake. Lambert runs funds for 2,000 Jewish pensioners in Israel, Argentina and Germany. It is considered the largest cash shell on the Alternative Investment Market (AIM). Mr. Arad has asked Interpol to participate in the investigation. When Baker Tilly resigned, Mr. Arad suggested as replacement small Spanish firm Gironella Velasco, which Jean-Pierre Regli, Crown's co-founder and treasurer, describes as a very reputable firm. Mr. Pearson joined Crown in June when Crown bought Langbar Capital, his small corporate-finance boutique. He agreed to become chief executive only after receiving assurances that it had substantial cash deposits according to the audit of Gironella Velasco. However, doubts regarding the asset resurfaced, and Kroll was appointed. Mr. Regli refused to sign the most recent financial statements of Langbar. He said Mr. Pearson won't allow him to look into the firm's bank accounts. He said he had already planned to resign when the alleged fraud was discovered. He insists the missing account exists: "I was in Brazil with Keith Smith (of Nabarro Wells, Crown's financial adviser). We met officers of Banco do Brasil. We saw the money was there." He denies opening a US$294 million (GBP169 million) account in ABN Amro in the Netherlands. He said: "I don't know who did, but I did not. Stuart Pearson went to Brazil with Avi Arad and he came back with these funny documents." Meanwhile, shareholders, led by Duncan Soukup of Acquisitor Holdings, are considering appointing insolvency specialist David Buchler to replace Mr. Pearson. Acquisitor invested about GBP350,000 in Langbar in the final weeks before the shares were suspended in October. Mr. Soukup wants an independent figure for the investigation. Some leading shareholders, however, think a probe would be futile since there is unlikely any substantial assets to be recovered from the company. Crown floated in October 2003. It pursued a wide variety of possible investments in Argentina, Canada, Russia, Eastern Europe, Spain and Portugal. It was renamed Langbar after Mr. Pearson became chief executive. CONTACT: LANGBAR INTERNATIONAL Reid House, 31 Church Street Hamilton HM 12 KROLL EUROPE, MIDDLE EAST & AFRICA 10 Fleet Place London EC4M 7RB United Kingdom Phone: 44 (0) 207 029 5000 Fax: 44 (0) 207 029 5001 LONDON & MIDLAND: Calls in PwC Liquidators ------------------------------------------ J. W. Hetherington, chairman of London & Midland Industrials Limited, informs that the special and ordinary resolutions to wind up the company were passed at an EGM held on Nov. 24. Jonathan Sisson and Richard Setchim of PricewaterhouseCoopers LLP, 12 Plumtree Court, London EC4A 4HT were appointed joint liquidators. CONTACT: PRICEWATERHOUSECOOPERS LLP Plumtree Court London EC4A 4HT Phone: [44] (20) 7583 5000 Fax: [44] (20) 7822 4652 Web site: http://www.pwc.com PIPE ACQUISITION: S&P Rates Senior Secured Debt CCC+ ---------------------------------------------------- Standard & Poor's Ratings Services assigned its 'B-' long-term corporate credit rating to U.K.-based steel distributor Pipe Acquisition Ltd. and related entity Murray International Metals Ltd. The outlook on both entities is stable. In addition, Standard & Poor's assigned its 'CCC+' senior secured debt rating to PAL's proposed senior secured bond issue. PAL will use the proceeds of the issue to acquire 100% of MIM, which is the sister company of U.S.-based specialty metal distributor Edgen Corp. (B-/Stable/--). "PAL remains vulnerable, owing to its relatively small scale, and high dependence on the cyclical oil and gas industry upstream and the competitive steel industry downstream," said Standard & Poor's credit analyst Olivier Beroud. "The company's narrow scope of operations, variable pipeline of projects, limited liquidity, and high leverage also weigh heavily on the ratings." In the near term, these negative factors outweigh MIM's successful track record and proven expertise in offshore projects, good geographical diversification, low fixed costs, and minimal capital expenditure requirements. MIM specializes in the worldwide supply of high-grade steel products to oil and gas companies, for offshore projects outside the U.S. Average operating income for the three-years to January 2005 was a respectable 12.1%, reflecting the company's strong niche position, and we expect this to remain at similar levels for the next couple of years. MIM's niche position, however, renders it highly sensitive to market changes, and the company remains subject to potential pressure from new competitors in emerging markets. "We expect that PAL will benefit from MIM's strengthening position as a niche distributor outside the U.S., and from recently built assets in Singapore and the United Arab Emirates," said Mr. Beroud. "A modest near-term improvement in financial performance is also likely, which should keep PAL in line with the ratings level." Prolonged and successful business development, especially in emerging markets, would strengthen PAL's financial profile through debt reduction, and could lead to a ratings upgrade. Conversely, a reversal in the trend of oil and gas investments, or further strain on the capital structure, would have negative implications for the 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 RANK GROUP: Predicts Lower Second-half Profit --------------------------------------------- Since the half-year, the trading performance of The Rank Group plc has followed similar trends to those witnessed in the first half. Revenues are up year-on-year, but operating costs are higher and sportsbook margins remain weak. As a consequence we expect adjusted profit before tax for continuing operations to be slightly lower than in 2004. Gaming In Mecca U.K., revenue for the year to date is broadly flat, driven by 6% growth in spend per head and a 6% fall in admissions. Operating margin remains under pressure from labor and energy related cost inflation. Top Rank Espana, the Spanish bingo operation, continues to deliver steady growth. In Grosvenor Casinos, we have generated 3% growth in revenue for the year-to-date, with admissions up 9% but handle per head down 7%. Revenue growth has accelerated since the start of October as a result of higher admissions and increased contributions from slot machines. However, it is too early to ascribe with precision how much of this may be driven by the changes in gambling regulations, due to current levels of promotional activity in the business. Since the half-year, we have secured a license for a new casino in Stockton-on-Tees, bringing the total of new licenses granted this year to six. Applications are in place for a further four casinos. Blue Square's performance has stabilized following a weak first half. In sports betting, win margins remain down year-on-year but we are generating strong customer and volume growth in on line gaming, largely from our casino, poker room and bingo products. Hard Rock At Hard Rock we have generated 4% growth year-to-date in like-for-like sales (company-owned operations only) with food and beverage up 5% and merchandise ahead by 1%. Strong trading at the relocated Hard Rock Cafe New York (which opened in September) contributed to this performance. Hard Rock Casinos and Hard Rock Hotels continue to drive revenue growth within franchised operations, albeit at a slower rate than in the first half (which benefited from the year-on-year impact of the opening of the Seminole casinos in May 2004). Deluxe Film Deluxe Film has performed well, with Film Laboratories delivering year-on-year growth in footage processed and distributed. Creative Services continues to be the main driver of profit growth and is well positioned to take advantage of developments in the digital sector of the market. Sale of Deluxe Film and sale of Deluxe Media Services We are making steady progress with the planned sales of both Deluxe Film and Deluxe Media Services. We have preferred but not exclusive bidders for each business. CONTACT: THE RANK GROUP PLC Investor Relations 6 Connaught Place London W2 2EZ Phone: +44 (0) 20 7706 1111 Fax: +44 (0) 20 7706 1092 Web site: http://www.rank.com RENTOKIL INITIAL: Completes Sale of Style Conferences ----------------------------------------------------- Further to the announcement on 29 November 2005, Rentokil Initial plc has revealed that the disposal of Initial Style Conferences to Alternative Hotel Group has now been completed. Greenhill & Co. International LLP, which is regulated by the Financial Services Authority, is acting for Rentokil Initial plc in connection with the disposal of Style Conferences and for no one else and will not be responsible to anyone other than Rentokil Initial plc for providing the protections afforded to customers of Greenhill & Co. nor for providing advice in relation to this transaction. About the Company Rentokil Initial is one of the largest business services companies in the world, operating in the major economies of Europe, North America, Asia Pacific and Africa. The company has some 90,000 employees providing a range of support services in over 40 countries. Rentokil's restructuring took effect in June and the New Rentokil Initial shares were admitted to the Official List and to trading on the London Stock Exchange's market for listed securities at that time. In August, the company reported that turnover in the first half of 2005 was up 3.2% to GBP1,167.2 million, while operating income was down 33% to GBP119.2 million. Profit before tax plunged 40.3% to GBP93.2 million. CONTACT: RENTOKIL INITIAL PLC Felcourt East Grinstead West Sussex RH19 2JY Phone: +44-1342-833-022 Fax: +44-1342-326-229 E-mail: pr@rentokil-initial.co.uk Web site: http://www.rentokil-initial.com GREENHILL & CO. INTERNATIONAL LLP Simon Borrows Edward Wakefield Phone: +44 (0) 20 7440 0400 RON DARBY: Names DTE Leonard Curtis Administrator ------------------------------------------------- P. D. Masters and A. Clifton (IP Nos 8262, 8766) of DTE Leonard Curtis were appointed administrators of Ron Darby Products Limited (Company No 02706794) on Nov. 22. Its registered office is at 5 Tamarisk Close, Selly Oak, Birmingham, West Midlands B29 4DB. The company produces meat and poultry products. CONTACT: RON DARBY PRODUCTS LTD. Hayseech Road Halesowen West Midlands Phone: 0121-503-0718 DTE LEONRD CURTIS 85-89 Colmore Row Birmingham West Midlands B3 2BB Phone: 0121 200 2111 Fax: 0121 200 2122 E-mail: AClifton@dte-leonardcurtis.com ROUBI L'ROUBI: Administrators from Tenon Recovery Enter Firm ------------------------------------------------------------ S. R. Thomas and S. J. Parker (IP Nos 8920, 8989) of Tenon Recovery were appointed administrators of Roubi L'Roubi Limited (Company No 4978200) on Nov. 18. Roubi L'Roubi -- http://www.roubi.co.uk/-- sells and designs wardrobes, from occasion evening dresses to bespoke tailoring for executive and leisure wear. CONTACT: ROUBI L'ROUBI LIMITED 9A Fitzgeorge Avenue London W14 0SY Phone: +44 (0) 207 602 9867 E-mail: roubi@roubi.co.uk 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 SAVAGE MANUFACTURING: BDO Stoy Hayward Administrators Move in ------------------------------------------------------------- Mark Peter George Roach and Simon Edward Jex Girling (IP Nos 009231, 009283) of BDO Stoy Hayward LLP were appointed Savage Manufacturing Limited (Company No 04524071) on Nov. 22. The company manufactures steel shelving. CONTACT: SAVAGE MANUFACTURING LIMITED Linden Close, Torrington, Devon EX38 7AL Phone: 01805 624977 BDO STOY HAYWARD Fourth Floor One Victoria Street Bristol BS1 6AA Phone: 0117 934 2800 Fax: 0117 922 5191 E-mail: graham.randall@numerica.biz SDL (SCOTLAND): Appoints Begbies Traynor Administrator ------------------------------------------------------ Paul Stanley and Richard William Traynor (IP Nos 8123, 6730) of Begbies Traynor were appointed administrators of SDL (Scotland) Limited (Company No 04339544) on Nov. 16 SDL (Scotland) -- http://www.sdlscotland.co.uk/-- sells exhaust systems for vehicles. CONTACT: SDL (SCOTLAND) LIMITED 23 Hewitt Business Park Winstanley Road Orrell, Wigan WN5 7XB Phone: 01695 627670 Fax: 01695 627679 BEGBIES TRAYNOR Elliot House 151 Deansgate Manchester M3 3BP Phone: 0161 839 0900 Fax: 0161 839 7436 E-mail: manchester@begbies-traynor.com Web site: http://www.begbies.com SEA CONTAINERS: Names Ian Durant Interim Chief Executive -------------------------------------------------------- Sea Containers Ltd. said on Dec. 1 that its President and Chief Executive Officer, James B. Sherwood, has asked to be relieved of his Chief Executive duties on an interim basis for health reasons. He will remain as Chairman of the Board. Mr. Sherwood recently underwent successful surgery and has now returned to the office on a part time basis. He and the rest of the board feel that implementation of the company restructuring program which was announced on November 3, 2005 plus supervision of day to day operations should not be delayed pending his full time return to the company. The board met on Nov. 25, 2005 and agreed to Mr. Sherwood's request that the Chief Executive role be transferred to Mr. Durant, who has been performing this role during Mr. Sherwood's hospitalization. The previously announced search for a new Chief Executive is now well advanced and it is hoped that an appointment will be made early in the new year. Mr. Durant said: "I am happy to assume this new responsibility on an interim basis and can assure investors that the restructuring program is being pursued with full speed." Sea Containers -- http://www.seacontainers.com-- (NYSE: SCRA and SCRB) is a marine container lessor, railways and ferries operator. Restructuring Plan Sea Containers is restructuring its loss-making ferries division, which consists of Finnish-based Silja Oy Ab (the largest), a car-carrying ferries business with 9 ships, and New York-based commuter ferry service SeaStreak. It has hired Societe Generale to sell Silja. Further, it is selling cruise ship m.v. Walrus, Swedish flag cruise ship m.v. Silja Opera, and m.v. Finnjet. It is also taking out one of its three SuperSeaCat fast ferries, and investing US$12 million to upgrade its flagship vessels Silja Serenade and Silja Symphony. The funding for the modernization will be raised through asset sales. It is reducing staff and offices in Finland, Sweden and Germany to save up to US$18 million. The company has a third-quarter net loss of US$34.4 million on revenue of US$456 million, and a nine-month net loss of US$58.5 million on revenue of US$1.3 billion. CONTACT: SEA CONTAINERS LTD. Media and general enquiries: Lisa Barnard, Director of Communications Phone: +44 20 7805 5850 E-mail: lisa.barnard@seacontainers.com Investor Relations enquiries: William W. Galvin III, The Galvin Partnership Phone: +1 (203) 618-9800 E-mail: wwg@galvinpartners.com SEWSCAN THREADS: Administrators from Bridgestones Enter Firm ------------------------------------------------------------ Jonathan Guy Lord and Robert Lochmohr Cooksey (IP Nos 9040 and 9041) of Bridgestones were appointed administrators of Sewscan Threads Ltd. (Company No 003398166) on Nov. 23. The company wholesales thread and upholstery materials. CONTACT: SEWSCAN THREADS LTD. 10 Harding Street Leicester LE1 4DH Leicestershire Phone: 0116 251 4333 Fax: 0116 262 7762 BRIDGESTONES 125-127 Union Street Oldham Lancashire OL1 1TE Phone: 0161 785 3700 Fax: 0161 785 3701 E-mail: rlc@bridgestones.co.uk SIMON FINCH: Creditors Meeting Set Next Week -------------------------------------------- Unsecured creditors or Simon Finch Rare Books Limited (Reg No 02584075) will meet on December 15, 2005, 11 p.m. at PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT not later than 12:00 noon, December 14, 2005. Simon Finch Rare Books -- http://www.simonfinch.com/-- was established in the early 1980s. The company is based in Maddox Street, London. It specializes in English and continental literature, science and medicine, early printing, art, architecture and design, photography, and the social sciences. CONTACT: SIMON FINCH RARE BOOKS LIMITED 53 Maddox Street London W1S 2PN Phone: 020 7499 0974 PRICEWATERHOUSECOOPERS LLP Plumtree Court London EC4A 4HT Phone: [44] (20) 7583 5000 Fax: [44] (20) 7822 4652 Web site: http://www.pwc.com SR GENT: HSBC Bank Appoints PricewaterhouseCoopers Receiver ----------------------------------------------------------- Company Names: SR GENT (INTERNATIONAL) LIMITED (formerly Broomco (393) Limited) (Reg No 02516071) SR GENT PLC (Reg No 00373330) HSBC Bank Plc appointed Michael David Gercke, Ian David Green and Steven Anthony Pearson (Office Holder Nos 2360, 9045 and 8832) of PricewaterhouseCoopers LLP joint administrative receivers of these companies on Nov. 22. SR Gent International -- http://www.srgent.com/-- supplies ladies and children's clothing. CONTACT: SR GENT INTERNATIONAL LTD. 8 Harewood Row London NW1 6SE Phone: 020 7723 4243 Fax: 020 7616 2269 PRICEWATERHOUSECOOPERS LLP Plumtree Court London EC4A 4HT Phone: [44] (20) 7583 5000 Fax: [44] (20) 7822 4652 Web site: http://www.pwc.com WIGGINS FAIRFIELD: Sets Creditors Meeting December 14 ----------------------------------------------------- Creditors of Wiggins Fairfield Limited will meet on December 14, 2005, 2 p.m. at Grant Thornton House, Melton Street, Euston Square, London NW1 2EP. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to A. Conquest, joint administrator of Grant Thornton House, Melton Street, Euston Square, London NW1 2EP not later than 12:00 noon, December 12, 2005. 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 WYRECROFT LIMITED: Energy Cable Manufacturer Hires Administrator ---------------------------------------------------------------- Martin A. Shaw and Charles M. Brook (IP Nos 6334, 9157) of Tenon Recovery were appointed administrators of Wyrecroft Limited (Company No 01865731) on Nov. 22. Wyrecroft Limited -- http://www.wyrecroft.com/-- manufactures energy cables. CONTACT: WYRECROFT LTD. Castle Street Flint CH6 5PF Flintshire Phone: 01352 761101 Fax: 01352 761102 TENON RECOVERY 100 Wakefield Road Lepton Huddersfield West Yorkshire HD8 0DL Phone: 01484 607444 Fax: 01484 608776 E-mail: cmb@marchands.org.uk ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter -- Europe is a daily newsletter co-published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland USA. Larri-Nil Veloso, Ma. Cristina Canson, Liv Arcipe, Julybien Atadero and Jay Malaga, Editors. Copyright 2005. All rights reserved. ISSN 1529-2754. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. 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