/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/060104.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 Wednesday, January 4, 2006, Vol. 7, No. 3 Headlines F R A N C E NEOVIA ELECTRONICS: Loses Price War; Files for Administration PAPETERIES DE MARESQUEL: Century-old Paper mill Closing down G E R M A N Y ALLGEMEINE HYPOTHEKENBANK: Sees EUR1.3 Bln Full-year Loss BITTER GMBH: Appoints Administrator from Lueders BRESNICK GMBH: Sets Creditors Meeting March ELEKTRO-MEISTERBETRIEB: Proofs of Claim Due Later this Month ERGIN BAU: Under Bankruptcy Administration GEA GROUP: Closes Sale of Dynamit Nobel HAUS- UND GRUNDSTUECKSVERWALTUNG: Falls into Bankruptcy HEINZ KLARHORST: Bielefeld Company Goes Bust HOLZEMANN MALERBETRIEB: Court to Verify Claims February IWKA AG: Ex-Cell-O Disposal to Cut Full-year Loss by EUR40 Mln PAULUSSEN STRASSENBAU: Aachen Court Appoints Administrator PHP GLASTEC: Names Pluta Provisional Administrator RENTARA AG: Succumbs to Bankruptcy RHI AG: Receives US$20 Mln from Honeywell International SIGHT INFORMATIONSSYSTEME: Claims Filing Period Ends Feb. 7 VITA-PARK: Hamburg Court to Verify Claims March VOLKSWAGEN AG: Europcar Unit Attracts Six Bidders VOLKSWAGEN AG: To Produce Minivans with Chrysler H U N G A R Y NABI RT: Seeks Extension of Debt Waiver I T A L Y ALITALIA SPA: U.K. Group Acquires 8% Stake FIAT SPA: Closes Option Rights Offering FIAT SPA: Sells Rubattino Interest for EUR3.3 Million PARMALAT SPA: Parma Prosecutors Ready to Try Tanzi, 63 Others PARMALAT SPA: Preliminary Injunction in U.S. Extended to Feb. 7 PARMALAT U.S.A.: Farmland Dairies Gets New Jersey Tax Refund VOLARE GROUP: Alitalia Dangles EUR40 Million K A Z A K H S T A N EDUCATIONAL CENTER: Folds up GOLDEN EAGLE: Succumbs to Insolvency INSTITUTE OF PHARMACEUTICAL: Declared Insolvent KENES: Gives Creditors Until January 7 to File Claims KYZMET LTD.: Creditors' Claims Due Weekend MANAS LTD.: Court Declares Firm Insolvent TEHNOPARK NPO: Goes into Liquidation K Y R G Y Z S T A N AK-BALYK: Sets Proofs of Claim Deadline KYZYR-ARTA: Creditors' Claims Due Next Month TRANCOM: Gives Creditors Until February to File Claims N E T H E R L A N D S ROYAL NUMICO: Seals Acquisition of EAC Nutrition ROYAL SHELL: Completes Construction of Guangdong Facility R U S S I A ABRAMOVSKOYE: Voronezh Court Opens Bankruptcy Proceedings BELORETSK-STROY: Succumbs to Bankruptcy BIRSKIY ELEVATOR: Declared Insolvent BREWERY VODOLEY: Bankruptcy Hearing Set Next Month GLAZOVSKAYA: Files for Bankruptcy REINFORCED CONCRETE: Kemerovo Court Appoints Insolvency Manager RUS': Bankruptcy Hearing Resumes March STEEL-CONSTRUCTION-2: Declared Insolvent STROY-INDUSTRY: Proofs of Claim Deadline January 8 WIRING ENTERPRISE: Claims Filing Period Ends Sunday YUKOS OIL: Rosneft Settles Yukos Debt to Western Banks S W I T Z E R L A N D SWISSAIR: Luxembourg Shareholders to Acquire Shares in Cargolux U K R A I N E ALMAZ: Insolvency Manager Takes over Operations ATLAS-MASTER: Goes into Liquidation ENERGETIK: Under Bankruptcy Supervision OSIRIS: Insolvency Manager Enters Firm P0ODILSKE: Declared Insolvent UKRTATNAFTA-HERSON: Court Appoints Insolvency Manager U N I T E D K I N G D O M A.C.S. BUSINESS: Calls in Liquidator AEGIS INSURANCE: Appoints Joint Liquidators ALLEN CHARLTON: Hires Tenon Recovery to Liquidate Business BJM TRADING: Furniture Firm Folds up BLAKES OF MONTPELLIER: Files for Liquidation CLARPO MANUFACTURERS: Cheap Imports Kill Local Shirt Maker D K STONE: Liquidators from Begbies Traynor Take over Firm GREAVE AND THORNTON: Names Kakouris & Michaelides Liquidator GREEN TREES: Tenon Recovery Liquidator Enters Firm HI-TECH (SOUTH): Calls in Chantrey Vellacott Liquidator HUNTS PATIO: Opts for Liquidation IN CAR: Calls in David Rubin & Partners JOINERS LIVE: Hires HJS Recovery as Liquidator KEY GUARDING: Names Jackson Jolliffe Cork Liquidator KINGSTON TILE: Appoints Liquidator from Gibson Hewitt & Co. KODICOM EUROPE: DVR Maker Files for Liquidation LE DOVE: Liquidator Takes over Firm MILDMANOR LIMITED: Begbies Traynor to Liquidate Assets M & M SECURITY: Hires Wilson Pitts Liquidator NEW CONCEPT: Appoints Joint Liquidators from Tenon Recovery ORANGE SCAFFOLDING: Begbies Traynor Liquidators Move in PRESTIGE HOMES: Goes into Liquidation SOUTH BUCKS: Files for Liquidation SYNAPSE CREATIVE: Creditors Okay Appointment of Liquidator TALKING HEADS: In Liquidation UNWINS WINE: Selling 150 More Outlets ********* =========== F R A N C E =========== NEOVIA ELECTRONICS: Loses Price War; Files for Administration ------------------------------------------------------------- The Commercial Court of Meaux has placed Franco-Korean flat- screen television maker Neovia Electronics in compulsory administration, Le Monde says. The court likewise placed the company under observation for six months. The stock market has also suspended its shares, only 18 months after it floated. The company says the price war in the TV sector has cut into its margins, precipitating its fall. In the fiscal year 2004-05, its net loss nearly tripled to EUR2.67 million, despite turnover of EUR70.1 million. Set up in 2002, Neovia Electronics specializes in the assembly of high-tech products -- flat screen televisions and monitors in both LCD and plasma. An investor is reportedly interested in the group, the paper says. CONTACT: NEOVIA ELECTRONICS 19 Avenue James de Rotschild 77164 Ferrires en brie Phone: 01 64 76 56 00 E-mail: neovia@neovia.biz Web site: http://www.neovia.biz PAPETERIES DE MARESQUEL: Century-old Paper mill Closing down ------------------------------------------------------------ Loss-making Les Papeteries de Maresquel will close its Pas-de- Calais site this April after it failed to find a buyer, Les Echos says. The group may also vacate the site this autumn. More than a hundred potential buyers had expressed interest in the paper maker, according to local authorities involved in the sale process. Swedish group Klippan came close to an agreement with International Paper, the U.S. parent of Papeteries. Talks broke down when it became apparent that Klippan was also struggling financially. TCR-Europe reported in May 2005 that International Paper had three options for Papeteries: sell it, assume its maintenance, or close it. Papeteries de Maresquel is expected to post another full-year loss this year, its third in as many years. These consecutive losses are the main reason why its parent has decided to put it on the market. The Pas-de-Calais site, which dates back to the 19th century, employs 230 people. CONTACT: INTERNATIONAL PAPER Global Headquarters 400 Atlantic Street Stamford, CT 06921 Phone: 203-541-8000 Web site: http://www.internationalpaper.com INTERNATIONAL PAPER S.A. - MARESQUEL MILL Place des Tilleuls Maresquel, 62990 Phone: +33 (0) 3 21 06 7511 Fax: +33 (0) 3 21 86 4194 ============= G E R M A N Y ============= ALLGEMEINE HYPOTHEKENBANK: Sees EUR1.3 Bln Full-year Loss --------------------------------------------------------- Allgemeine HypothekenBank Rheinboden AG (AHBR) is expecting a net loss for the year 2005. The bank estimates the deficit to be as high as EUR1.3 billion. These results are attributable to the complete realization of losses on charged interest rate positions and the revaluation of the loan portfolio in the course of comprehensive restructuring and repositioning following the bank's takeover by U.S. financial investor Lone Star. In view of the expected deficit, significant claims will be made on the liable equity capital provided by creditors holding profit participation certificates and silent partnership investors. Those holding subordinated and senior unsecured bonds are not affected. Lone Star will support the repositioning of the bank by providing an appropriate injection of equity capital at the beginning of the 2006 financial year. About the Company AHBR incurred huge debt due to poor interest rate management four years ago. For a while it teetered on the verge of breaking the record set by Herstatt Bank when it collapsed in 1974. It owns assets worth more than EUR80 billion. It is owned directly and indirectly -- through BHW -- by the trade union private equity holding group BGAG. BGAG has provided it EUR1.2 billion in financing, and guaranteed it under a EUR1.2 billion risk protection scheme. It recently sold the company to U.S. investment group Lone Star for EUR400 million. Ratings Following the sale, Standard & Poor's Ratings Services removed its 'BB+' counterparty credit ratings on AHBR from CreditWatch, where they were first placed on Oct. 25, 2005. In addition, Standard & Poor's affirmed its 'BB+/B' counterparty credit and senior unsecured ratings on AHBR, and raised the ratings on subordinated debt issued by AHBR to 'BB-' from 'B'. The outlook is negative. At the same time, the 'AAA' ratings on senior secured Offentliche Pfandbriefe and Hypothekenpfandbriefe issued by AHBR were affirmed. Fitch Ratings, on the other hand, downgraded AHBR to Long-term 'BBB-' from 'BBB' and removed it from Rating Watch Evolving (RWE). It assigned a Negative Outlook on the bank. The Long- term rating applies to all AHBR's senior unsecured obligations. The rating agency has affirmed its Short-term rating at 'F3' and Support at '2', and removed them from RWE. AHBR's Individual rating of 'E' has been placed on Rating Watch Positive (RWP). In addition, Fitch has affirmed AHBR's outstanding public sector Pfandbriefe at 'AAA' and the mortgage Pfandbriefe at 'AA+'. At the same time, the bank's subordinated obligations have been upgraded to 'BB+' from 'BB-' and removed from Rating Watch Negative (RWN). The agency has downgraded AHBR's participation rights (Genussscheine) to 'CC' from 'B+' and keeps them on RWN. The company's ratings from Moody's are: financial strength: E; unsecured long-term: Baa3, outlook negative; short-term: P-3, outlook negative; and subordinated debt: 'Ba1', under review for possible downgrade. CONTACT: ALLGEMEINE HYPOTHEKENBANK RHEINBODEN AG Betreff Bockenheimer Landstrasse 25 D-60325 Frankfurt/Main Phone: (0 69) 71 79-0 Fax: (0 69) 71 79-100 Web site: http://www.ahbr.de BITTER GMBH: Appoints Administrator from Lueders ------------------------------------------------ The district court of Braunschweig opened bankruptcy proceedings against Bitter GmbH on December 9. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 1, 2006 to register their claims with court-appointed provisional administrator Torsten Gutmann. Creditors and other interested parties are encouraged to attend the meeting on March 1, 2006, 10:50 a.m. at the district court of Braunschweig, E 01, An der Martinikirche 8, 38100 Braunschweig, 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: BITTER GmbH Dibag Gewerbepark Hall 1 Steinriedendamm 15, 38108 Braunschweig Contact: Erich Bitter, Manager Torsten Gutmann, Administrator Lueders Partnergesellschaft Zum Blauen See 5, D-31275 Lehrte Phone: (05132) 826838 Fax: (05132) 826896 BRESNICK GMBH: Sets Creditors Meeting March ------------------------------------------- The district court of Cottbus opened bankruptcy proceedings against Bresnick GmbH & Co. KG on December 19. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 31, 2006 to register their claims with court-appointed provisional administrator Dr. Dirk Wittkowski. Creditors and other interested parties are encouraged to attend the meeting on March 8, 2006, 10:00 a.m. at the district court of Cottbus, Gerichtsplatz 02, 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: BRESNICK GmbH & Co. KG Forster Strasse 15, 03159 Neisse-Malxetal Contact: Juergen Bresnick, Manager Muskauer Strasse 04 a, 03159 Neisse-Malxetal Dr. Dirk Wittkowski, Administrator Kirchblick 11, 14129 Berlin ELEKTRO-MEISTERBETRIEB: Proofs of Claim Due Later this Month ------------------------------------------------------------ The district court of Braunschweig opened bankruptcy proceedings against Elektro-Meisterbetrieb Andreas Altschaffel/Carsten Watzlawik GbR on December 9. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 25, 2006 to register their claims with court-appointed provisional administrator Joachim Hausherr. Creditors and other interested parties are encouraged to attend the meeting on February 22, 2006, 8:45 a.m. at the district court of Braunschweig, E 01, An der Martinikirche 8, 38100 Braunschweig, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: ELEKTRO-MEISTERBETRIEB ANDREAS ALTSCHAFFEL /CARSTEN WATZLAWIK GbR Im Sommerfeld 9, 38304 Wolfenbuettel Contact: Andreas Altschaffel, Manager Paul-Francke-Strasse 10, 38302 Wolfenbuettel Carsten Watzlawik, Manager Campestrasse 35, 38302 Wolfenbuettel Joachim Hausherr, Administrator Bruchtorwall 6, 38100 Braunschweig Phone: 0531/2448020 Fax: 0531/2448080 ERGIN BAU: Under Bankruptcy Administration ------------------------------------------ The district court of Koln opened bankruptcy proceedings against Ergin Bau GmbH on December 14. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 31, 2006 to register their claims with court-appointed provisional administrator Dr. Ruediger Werres. Creditors and other interested parties are encouraged to attend the meeting on February 21, 2006, 11:15 a.m. at the district court of Koln, Hauptstelle, Luxemburger Strasse 101, 50939 Koln, Erdgeschoss, Saal 14, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: ERGIN BAU GmbH Zur Ville 15, 50129 Bergheim Contact: Ibrahim Ergin, Manager Glessener Weg 6, 50129 Bergheim Dr. Ruediger Werres, Administrator Friesenplatz 17 a, 50672 Koln Phone: 0221/95 14 46 - 20 Fax: +4922195144690 GEA GROUP: Closes Sale of Dynamit Nobel --------------------------------------- GEA Group Aktiengesellschaft (formerly MG Technologies) has completed the sale of Dynamit Nobel Kunststoff (DNK), a supplier of the automotive industry with headquarters in Weissenburg, Germany, to the Swedish Plastal Group, effective December 30, 2005. The European Commission had already approved the transaction on December 22, 2005. * * * As reported by TCR-Europe on Nov. 9, 2005, GEA Group Aktiengesellschaft sold Dynamit Nobel Kunststoff to the Swedish Plastal Group. The sale assumes an enterprise value of EUR350 million. In 2004, DNK, a profitable organization with approximately 5,000 employees, reported sales of roughly EUR915 million. "The disposal of our plastics business finalizes our strategic realignment initiated in 2003, which has focused our operations on mechanical engineering and plant engineering. In the Plastal Group, DNK enjoys excellent prospects," said GEA Group's Chief Executive Officer Jurg Oleas. In the GEA Group's consolidated financial statements (according to IFRS) at December 31, 2005, this transaction will give rise to an overall loss on discontinued operations, probably in the order of between -EUR165 million and -EUR175 million, taking into account the expected net profit of DNK. A loss of -EUR169 million will be reported for DNK in the consolidated financial statements at September 30, 2005. In the annual financial statements of GEA Group AG, prepared in accordance with German generally accepted accounting principles (HGB), this loss will probably be restricted to between -EUR35 million and -EUR45 million. The financial leeway of the Group will improve with the closing of the transaction by around EUR190 million, giving support to the organization's growth strategy. GEA Group Aktiengesellschaft was formerly Mg Technologies AG. It was renamed on July 12 as part of a strategic restructuring launched in 2003. GEA now stands for "Global Engineering Alliance" with a head office at am Main to Bochum. CONTACT: GEA GROUP AKTIENGESELLSCHAFT Phone: +49 (0) 234 980 1081 Fax: +49 (0) 234 980 1087 Web site: http://www.geagroup.com HAUS- UND GRUNDSTUECKSVERWALTUNG: Falls into Bankruptcy ------------------------------------------------------- The district court of Leipzig opened bankruptcy proceedings against Haus- und Grundstuecksverwaltung-GmbH Westsachsen on December 16. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 31, 2006 to register their claims with court-appointed provisional administrator Dr. Winfried Andres. Creditors and other interested parties are encouraged to attend the meeting on March 7, 2006, 4:30 p.m. at the district court of Leipzig, Kathe-Kollwitz-Str. 54, 04109 Leipzig, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: HAUS- UND GRUNDSTUECKSVERWALTUNG-GmbH WESTSACHSEN Lange Str. 22-24, 04103 Leipzig Contact: Richard and Dirk Schworer, Managers Dr. Winfried Andres, Administrator Kathe-Kollwitz-Str. 54, 04109 Leipzig HEINZ KLARHORST: Bielefeld Company Goes Bust -------------------------------------------- The district court of Bielefeld opened bankruptcy proceedings against Heinz Klarhorst Hartchrom und chemisch Nickel GmbH on December 20. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until February 2, 2006 to register their claims with court-appointed provisional administrator Cornelia Monert. Creditors and other interested parties are encouraged to attend the meeting on February 23, 2006, 9:00 a.m. at the district court of Bielefeld, Gerichtstrasse 6, 33602 Bielefeld, 4. Ebene, Saal 4065, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: HEINZ KLARHORST HARTCHROM UND CHEMISCH NICKEL GmbH Kornkamp 20, 33699 Bielefeld Contact: Heinz Klarhorst, Manager Jagerstr. 1 b, 33813 Oerlinghausen Cornelia Monert, Administrator Lise-Meitner-Str. 13, 33605 Bielefeld HOLZEMANN MALERBETRIEB: Court to Verify Claims February ------------------------------------------------------- The district court of Wuppertal opened bankruptcy proceedings against Holzemann Malerbetrieb GmbH on December 21. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 24, 2006 to register their claims with court-appointed provisional administrator Henner Klein. Creditors and other interested parties are encouraged to attend the meeting on February 8, 2006, 9:10 a.m. at the district court of Wuppertal, Hauptstelle, Eiland 2, 42103 Wuppertal, 2. Etage, Saal 234, 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: HOLZEMANN MALERBETRIEB GmbH Steegerstrasse 9, 42551 Velbert Contact: Hans Peter Salewski, Manager Henner Klein, Administrator Werlestrasse 38, 42289 Wuppertal Phone: 0202/26 26 40 or 01722061011 Fax: 0202/6 34 08 IWKA AG: Ex-Cell-O Disposal to Cut Full-year Loss by EUR40 Mln -------------------------------------------------------------- The sale of Ex-Cell-O to Maxtor will result in a EUR55 million book loss for IWKA AG, according to Borsen Zeitung, but on the plus side, full-year loss will be EUR40 million less. The EUR40 million represents the expected operating loss of Ex- Cell-O in the current fiscal year, according to the paper. The business, which employs 650, contributes EUR160 million in turnover to the group. The sale is part of a restructuring effort to ease the fall in investments from carmakers. The group closed the first nine months of 2005 with a EUR24.5 million net loss, compared to a EUR27 million profit last year. Nine-month turnover dropped from EUR1.34 billion to EUR1.32 billion, while EBIT dived from EUR56.6 million to EUR14.6 million. The group also sold recently IWKA Balg- und Kompensatorentechnologie and Flexible Solutions Group to local private equity firm Odewald & Compagnie Gesellschaft fur Beteiligungen. IWKA is counting on this sale to cut substantially its net debt this year. The deal still awaits anti-trust approval. CONTACT: IWKA AKTIENGESELLSCHAFT Postfach 3409 76020 Karlsruhe Phone: +49 721 143-330 Fax: +49 721 143-331 E-mail: pr@iwka.de Web site: http://www.iwka.de PAULUSSEN STRASSENBAU: Aachen Court Appoints Administrator ---------------------------------------------------------- The district court of Aachen opened bankruptcy proceedings against Paulussen Strassenbau GmbH on December 16. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 31, 2006 to register their claims with court-appointed provisional administrator Carsten Lange. Creditors and other interested parties are encouraged to attend the meeting on February 20, 2006, 9:15 a.m. at the district court of Aachen, Augustastrasse 78-80, 52070 Aachen, 2. Etage, Sitzungssaal 21, 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: PAULUSSEN STRASSENBAU GmbH Johann-Plum-Platz 4, 52511 Geilenkirchen Contact: Judith Paulussen, Manager Carsten Lange, Administrator Laurentiusstrasse 16-20, 52072 Aachen PHP GLASTEC: Names Pluta Provisional Administrator -------------------------------------------------- The district court of Augsburg opened bankruptcy proceedings against php glastec Systeme GmbH on December 5. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until February 6, 2006 to register their claims with court-appointed provisional administrator Dr. Martin Prager. Creditors and other interested parties are encouraged to attend the meeting on February 27, 2006, 10:15 a.m. at the district court of Augsburg, Justizgebaude, Sitzungssaal 162, Am Alten Einlass 1, 86150 Augsburg, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: PHP GLASTEC SYSTEME GmbH Vordere Muehlgasse 1989, 86899 Landsberg Contact: Schlossbauer Paul and Sprotofski Helmut, Managers Dr. Martin Prager Pluta Rechtsanwalts GmbH Barthstr. 16, 80339 Muenchen Web site: http://www.pluta.net RENTARA AG: Succumbs to Bankruptcy ---------------------------------- The district court of Hamburg opened bankruptcy proceedings against Rentara AG on December 15. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 26, 2006 to register their claims with court-appointed provisional administrator Joachim Buettner. Creditors and other interested parties are encouraged to attend the meeting on February 20, 2006, 11:05 a.m. at the district court of Hamburg, Insolvenzgericht, Sievekingplatz 1, 20355 Hamburg, 4. Etage, Anbau, Saal B 405, 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: RENTARA AG Nordkanalstrasse 46, 20097 Hamburg Contact: Sandra Liebig, Liquidator Ferdinand-Beit-Str. 9, 22099 Hamburg Joachim Buettner, Administrator Osdorfer Landstrasse 230, 22549 Hamburg Phone: 8078810 Fax: 807881-20 RHI AG: Receives US$20 Mln from Honeywell International ------------------------------------------------------- Honeywell International Inc. has paid US$20 million to RHI Refractories Holding as agreed by contract, after NARCO, a company currently operating under U.S. Chapter 11 bankruptcy and deconsolidated by RHI at the end of 2001, submitted an adjusted plan of reorganization, which was accepted by Honeywell, to the court in Pittsburgh. Honeywell contractually agreed in early 2002 to pay a total of US$60 million to RHI once certain requirements related to NARCO's Chapter 11 proceedings were met. The remaining US$40 million are due when the Chapter 11 proceedings of NARCO are completed successfully. From the current perspective, this is expected for 2006. The US$20 million payment, which corresponds to nearly EUR17 million, will be accounted for in RHI's earnings before interest and taxes (EBIT) 2005. Overall, the RHI Group's EBIT 2005 including this payment is currently expected to be slightly below the prior-year figure of EUR135.6 million. EBIT of the Refractories division (RHI Refractories) 2005 will decline on the previous year due to increased energy and raw material costs; EBIT from the Insulating division (Heraklith) will exceed the figure of the previous year significantly. Thus, RHI's profit after income taxes is expected to be slightly below the figure of the previous year. Following a temporary decline in the third quarter of 2005, the level of incoming refractories orders has substantially improved again. Based on the successful implementation of price increases to cover further increased raw material and energy costs, RHI now sees a two-digit EBIT margin in 2006. CONTACT: RHI AG Wienerbergstrasse 11 A-1100 Wien Phone: +43 0 50213-0 Fax: +43 0 50213-6213 E-mail: rhi@rhi-ag.com Web site: http://www.rhi-ag.com Investor Relations Dkfm. Markus Richter Phone: +43-1-50213-6123 E-mail: markus.richter@rhi-ag.com SIGHT INFORMATIONSSYSTEME: Claims Filing Period Ends Feb. 7 ----------------------------------------------------------- The district court of Essen opened bankruptcy proceedings against SIGHT Informationssysteme GmbH i. L. on December 22. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until February 7, 2006 to register their claims with court-appointed provisional administrator Dr. Jens M. Schmittmann. Creditors and other interested parties are encouraged to attend the meeting on February 22, 2006, 9:10 a.m. at the district court of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, I.OG, gelber Bereich, Saal 185, 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: SIGHT INFORMATIONSSYSTEME GmbH i. L. Kyffhauser Str. 8, 45141 Essen Contact: Gabriele Hoppe, Liquidator Dr. Jens M. Schmittmann, Administrator Zweigertstrasse 28-30, 45130 Essen Phone: 0201 438740 VITA-PARK: Hamburg Court to Verify Claims March ----------------------------------------------- The district court of Hamburg opened bankruptcy proceedings against VITA-Park GmbH & Co. KG on December 14. 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 Dr. Gideon Bohm. Creditors and other interested parties are encouraged to attend the meeting on March 9, 2006, 9:00 a.m. at the district court of Hamburg, Insolvenzgericht, Sievekingplatz 1, 20355 Hamburg, 4. Etage, Anbau, Saal B 424, 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: VITA-PARK GmbH & Co. KG Uwestrasse 3, 22525 Hamburg Dr. Gideon Bohm, Administrator Bachstrasse 85a, 22083 Hamburg Phone: 040/3208360 Fax: 040/32083636 VOLKSWAGEN AG: Europcar Unit Attracts Six Bidders ------------------------------------------------- Volkswagen AG's Europcar International unit has drawn six potential buyers, the Financial Times says. Among the bidders is German automotive rental business Sixt AG, which earlier denied interest in the France-based car rental venture. Volkswagen is understood to have put Europcar on sale to raise funds to cover restructuring costs. It follows the disposal of Volkswagen's IT services arm Gedas to Deutsche Telekom. Europcar is expected to pull in bids of up to EUR2.5 billion, including debt. Joining Sixt are U.S.-based Enterprise Rent-a-Car and four private equity firms Cerberus Capital, Cinven Group, Carlyle Group and Merrill Lynch Global. All were either unavailable for comment or refused to do so. Volkswagen faces a tough start in 2006 with plans of job reductions involving more than 100,000 German workers, and reviews of several manufacturing sites. A boardroom row also looms over Porsche AG's plans to nominate its chief executive and finance director to the Volkswagen supervisory board after it acquired an 18.6% stake in the company. In 2004, Europcar posted pre-tax profits of EUR84 million, up 16% from a year earlier, while sales increased 6% to EUR1.17 billion. Sixt, which is understood to have called in private equity group Apax Partners, could operate Europcar as a "low- cost" provider. CONTACT: VOLKSWAGEN AG Brieffach 1848-2 38436 Wolfsburg, Germany Phone: +49 53 61 90 Fax: +49 53 61 92 82 82 Web site: http://www.volkswagen.de EUROPCAR INTERNATIONAL 3 avenue du Centre Immeuble Les Quadrants 78881 St. Quentin en Yvelines France Phone: (33) 1 30 44 90 00 Fax: (33) 1 30 44 94 45 SIXT AG Zugspitzstrabe 1 82049 Pullach, Germany Phone: +49-89-74444-4260 Fax: +49-89-744448-4260 Web site: http://ag.sixt.com APAX PARTNERS, INC. 445 Park Ave., 11th Fl. New York, NY 10022 Phone: 212-753-6300 Fax: 212-319-6155 Web site: http://www.apax.com ENTERPRISE RENT-A-CAR Web site: http://www.enterprise.com CERBERUS CAPITAL MANAGEMENT, L.P. 299 Park Ave. New York, NY 10171 Phone: 212-891-2100 Fax: 212-891-1540 CINVEN GROUP LTD. Warwick Ct., Paternoster Sq. London EC4M 7AG United Kingdom Phone: +44-20-7661-3333 Fax: +44-20-7661-3888 Web site: http://www.cinven.com THE CARLYLE GROUP 1001 Pennsylvania Ave. NW Washington, DC 20004-2505 Phone: 202-729-5626 Fax: 202-347-1818 Web site: http://www.thecarlylegroup.com MERRILL LYNCH & CO., INC. 4 World Financial Center New York, NY 10080 Phone: 212-449-1000 Fax: 212-449-7357 Toll Free: 800-637-7455 Web site: http://www.merrilllynch.com VOLKSWAGEN AG: To Produce Minivans with Chrysler ------------------------------------------------ Volkswagen AG and DaimlerChrysler AG's Chrysler unit have reportedly agreed to manufacture small vans for the U.S. market. The deal, set to be inked on January 8 at the auto show in Detroit, will see both carmakers work on a mini-van model in the Chrysler production facility and release it under the Volkswagen brand in the U.S. next year or in 2008. At present, Volkswagen has no minivans available in the American market. The joint venture is expected to produce between 35,000 and 45,000 minivans for the U.S. annually. Deutsche Presse-Agentur said the move was part of Volkswagen's measures to avoid further decline in sales amid tough competition in the U.S. The carmaker's sales in the U.S. fell 15.5% to 198,000 units from January to November 2005. A spokesman for the firm refused to comment. Chief Executive Bernd Pischetsrieder has warned of continued poor performance in the American market this year following an estimated loss of around EUR1 billion in the U.S. in 2005. In October, Mr. Pischetsrieder confirmed the two car manufacturers have been discussing about a basic agreement on cooperation projects since 2001. He said: "We have been talking about it since 2001. Now the strategy teams from both sides are talking about a list of different projects." DaimlerChrysler has ruled out taking a stake in Volkswagen. CONTACT: VOLKSWAGEN AG Brieffach 1848-2 38436 Wolfsburg, Germany Phone: +49 53 61 90 Fax: +49 53 61 92 82 82 Web site: http://www.volkswagen.de DAIMLERCHRYSLER AG 70546 Stuttgart, Germany Phone: +49 711 17 0 Fax: +49 711 17 22244 Web site: http://www.daimlerchrysler.com ============= H U N G A R Y ============= NABI RT: Seeks Extension of Debt Waiver --------------------------------------- Loss-making bus maker Nabi Rt. revealed Monday it is seeking another extension to the Master Support Agreement (MSA). According to Budapest Business Journal, the agreement expired on December 31 after creditors extended it in November. Signed in May last year, the MSA waived temporarily certain events of default contained in financing indentures, allowing the company to continue its restructuring. "The Financiers have indicated their consent to the extension and NABI expects formal approval shortly," the paper quoted a Nabi statement. Shareholders will be informed once Nabi receives written approval of the extension, it said. CONTACT: NABI RT Ujszasz utca 45 Budapest 1165 Hungary Phone: +36.1.401.7100 Fax: +36.1.407.2931 E-mail: corporate.office@nabi.hu Contact: Andras Bodor, Corporate Affairs Director ========= I T A L Y ========= ALITALIA SPA: U.K. Group Acquires 8% Stake ------------------------------------------ U.K. investment group Walter Capital Management LLP (WCM) is now the largest private shareholder of ailing national carrier Alitalia S.p.A., Reuters says. As of Dec. 21, WCM's stake was 8.187%. It acquired the stake by participating in the carrier's EUR1 billion capital hike late last year. Italy still owns a large chunk of Alitalia 49.9%, down from 62%. This reduction is one of the conditions set by the European Commission when it approved a government-guaranteed bridging loan for Alitalia in July last year. About the Company 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, its net debt stood at EUR1.76 billion in 2004. Alitalia flies to about 80 destinations in more than 60 countries from 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, it remains financially troubled. It has posted a profit only four times in the past 16 years. 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 WALTER CAPITAL MANAGEMENT LLP Boston House 63-64 New Broad Street London EC2M 1JJ FIAT SPA: Closes Option Rights Offering --------------------------------------- The offering of unexercised option rights related to the capital increase to service the Mandatory Convertible Loan has been completed. No option right was purchased and, therefore, as already disclosed on Dec. 16, 1,009,773 Fiat Ordinary Shares have been subscribed by stockholders out of the 291,828,718 Fiat Ordinary Shares offered in option to them. The shares were previously subscribed by the lending banks on Sept. 20, 2005 at a price of EUR10.28 each. Notice is hereby given that the exercise price of the Fiat Ordinary Share Warrants 2007, equal to EUR29.448, is adjusted pursuant to the relevant regulation, for an amount equal to the difference between the arithmetic average of the last five "cum rights" official prices and the arithmetic average of the first five "ex rights" official prices of Fiat ordinary shares. The adjusted exercise price is equal to EUR29.364. About the Company Fiat S.p.A., headquartered in Turin, is one of the largest industrial groups in Italy and the fourth largest European-based automobile manufacturer, with revenues of EUR33.4 billion in the first nine months of 2005. Fiat's creditors include Banca Intesa, Banca Monte dei Paschi di Siena, Banca Nazionale del Lavoro, Capitalia, Sanpaolo IMI, and UniCredito Italiano. Status to date The company recently converted EUR3 billion bank debt into shares, halving net industrial debt to EUR4.7 billion. The founding Agnelli family controls 30% of the company. In August, S&P revised its outlook on Fiat to stable from negative. At the same time, it affirmed its 'BB-' long-term and 'B' short-term corporate credit ratings on the group. CONTACT: FIAT S.p.A. via Nizza, 250 - 10126 Torino Phone: +39 011 00 63088 Fax: +39 011 00 63798 E-mail: mediarelations@fiatgroup.com Web site: http://www.fiatgroup.com FIAT SPA: Sells Rubattino Interest for EUR3.3 Million ----------------------------------------------------- The Fiat Group sells its interest in Rubattino 87 S.r.l., a company dealing with real estate development of the formerly Innocenti/Maserati area in Milan. Fiat Partecipazioni sold its interest in the capital stock of Rubattino 87 S.r.l., equal to 30.59%, to the Aedes Group, being this investment no longer strategic to it. The sale price was set at approximately EUR3.3 million, in line with the pro-quota value of the company's equity. Simultaneously, Fiat Partecipazioni sold receivables from Rubattino 87 S.r.l., amounting to approximately EUR40.2 million to the Aedes Group. About the Company Fiat S.p.A., headquartered in Turin, is one of the largest industrial groups in Italy and the fourth largest European-based automobile manufacturer, with revenues of EUR33.4 billion in the first nine months of 2005. Fiat's creditors include Banca Intesa, Banca Monte dei Paschi di Siena, Banca Nazionale del Lavoro, Capitalia, Sanpaolo IMI, and UniCredito Italiano. Status to date The company recently converted EUR3 billion bank debt into shares, halving net industrial debt to EUR4.7 billion. The founding Agnelli family controls 30% of the company. In August, S&P revised its outlook on Fiat to stable from negative. At the same time, it affirmed its 'BB-' long-term and 'B' short-term corporate credit ratings on the group. CONTACT: FIAT S.p.A. via Nizza, 250 - 10126 Torino Phone: +39 011 00 63088 Fax: +39 011 00 63798 E-mail: mediarelations@fiatgroup.com Web site: http://www.fiatgroup.com PARMALAT SPA: Parma Prosecutors Ready to Try Tanzi, 63 Others ------------------------------------------------------------- Another trial awaits those involved in Parmalat's multi-billion- euro collapse more than two years ago, ANSA says. Parma prosecutors are now preparing fraud charges against founder Calisto Tanzi and 63 others. Six people have been dropped from the list of accused. Chief prosecutor Gerardo Laguardia, who is currently reviewing the charges, will forward the papers to a preliminary hearing judge shortly. A Milan court is also trying Mr. Tanzi and 15 others on charges of market rigging, false auditing, misleading investors and hindering the regulatory activities of Consob. While the Milan trial focuses on charges involving the stock market, the Parma trial will deal with the more serious crimes of fraudulent bankruptcy and accounting fraud. Parmalat collapsed in December 2003 after revealing a EUR14 billion hole in its accounts. Its collapse left around 150,000 investors scurrying for their money and hoping that current legal actions would bring some investments back. It recently returned to the stock market following a EUR20 billion debt-to- equity swap. CONTACT: PARMALAT S.p.A. Legal Seat 43044 Collecchio (Pr) Via Oreste Grassi, 26 Administrative Seat 20122 Milan Piazza Erculea, 9 Phone: +39 02 806 8801 Fax: +39 02 869 3863 Web site: http://www.parmalat.net PARMALAT SPA: Preliminary Injunction in U.S. Extended to Feb. 7 --------------------------------------------------------------- The Honorable Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York enjoins and restrains all persons subject to the jurisdiction of the U.S. court from commencing or continuing any action to collect a prepetition debt against Parmalat S.p.A. and its affiliates and subsidiaries, on an interim basis, without obtaining permission from the Bankruptcy Court. The Preliminary Injunction, however, does not apply to: -- the furtherance or prosecution of claims of creditors against these subsidiaries or affiliates of the Foreign Debtors: (i) Subsidiaries or affiliates of the Foreign Debtors covered by currently pending liquidation, insolvency, administration or reorganization cases or proceedings, including those based in Brazil, the Cayman Islands, Chile, Germany, Hungary, Ireland and the United States; (ii) Subsidiaries or affiliates conducting business operations in Spain, Canada, Nicaragua, Venezuela, South Africa, Australia, Mexico, Costa Rica, Mauritius, Uruguay (only Parmalat Uruguay S.A.), Argentina, the Dominican Republic and the United States, including, but not limited to, BF Holdings, USA, Inc., Mother's Cake & Cookie Co., and Archway Cookies, LLC; (iii) Wishaw Trading S.A.; and (iv) former officers and directors as of December 23, 2003, of the Foreign Debtors, but only to the extent that the prosecution or furtherance of claims does not impact upon, obtain possession of or seek control over assets, claims or property of the Foreign Debtors; and -- discovery against the Foreign Debtors by defendants in these pending actions: (i) Bondi v. Grant Thornton International, et al., No. 04-Civ.-9711 (LAK) (S.D.N.Y.); and (ii) Bondi v. Bank of America Corporation, et al., No. 1:04cv215 (W.D.N.C.); and -- any other matter to which the injunction does not apply as determined by the U.S. District Court for the Southern District of New York. Judge Drain will convene another hearing on February 7, 2006, at 10:00 a.m. to consider whether to continue the terms of the Preliminary Injunction. The Preliminary Injunction Order will remain in effect through February 8, 2006. Headquartered in Wallington, New Jersey, Parmalat U.S.A. Corporation -- http://www.parmalatusa.com/-- generates more than EUR7 billion in annual revenue. The Parmalat Group's 40- some brand product line includes milk, yogurt, cheese, butter, cakes and cookies, breads, pizza, snack foods and vegetable sauces, soups and juices. The company employs over 36,000 workers in 139 plants located in 31 countries on six continents. It filed for chapter 11 protection on February 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139). Gary Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal & Manges LLP, represent the Debtors. When the U.S. Debtors filed for bankruptcy protection, they reported more than $200 million in assets and debts. The U.S. Debtors emerged from bankruptcy on April 13, 2005. (Parmalat Bankruptcy News, Issue No. 67; Bankruptcy Creditors' Service, Inc., 215/945-7000) CONTACT: PARMALAT S.p.A. Legal Seat 43044 Collecchio (Pr) Via Oreste Grassi, 26 Administrative Seat 20122 Milan Piazza Erculea, 9 Phone: +39 02 806 8801 Fax: +39 02 869 3863 Web site: http://www.parmalat.net PARMALAT U.S.A.: Farmland Dairies Gets New Jersey Tax Refund ------------------------------------------------------------ In its Schedules of Assets and Liabilities filed with the U.S. Bankruptcy Court for the Southern District of New York, Farmland Dairies LLC, a Parmalat U.S.A. Corporation debtor-affiliate, listed a contingent and unliquidated sales and use tax liability owing to the State of New Jersey. On August 6, 2004, the New Jersey Department of Treasury, Division of Taxation, filed Claim No. 876 against Farmland and Parmalat U.S.A. Corp. for $1,746,730. The New Jersey Treasury Department asserted a priority claim pursuant to Section 507(a)(8) of the Bankruptcy Code for various tax liabilities. Subsequently, on March 7, 2005, New Jersey filed Claim No. 1003 for US$458,079 against Parmalat U.S.A. and Farmland, thus, (i) amending and superseding Claim No. 876 and (ii) asserting a priority claim for: * underpayment of corporation business taxes for 2002; * audits of sales and use tax for January 2000 through December 2003; and * underpayment of liter tax for 2003. The U.S. Debtors sought to: (a) expunge Claim No. 876 since it was amended and superseded by Claim No. 1003; (b) reduce the First Amended Claim to $421,723, because it was inconsistent with the Debtors' books and records; and (c) expunge and disallow the Original Claim as to Parmalat USA, and transfer the First Amended Claim in its entirety to Farmland. In response, New Jersey disagreed with the Debtors' proposed reduction of the First Amended Claim. However, New Jersey consented to the expungement of the Original Claim as against both Parmalat U.S.A. and Farmland, and the First Amended Claim solely as against Parmalat U.S.A. The Court approved the consented expungement on May 18, 2005. Moreover, on June 1, 2005, New Jersey filed Claim No. 1035 against Parmalat U.S.A. and Farmland for US$373,707, which superseded the First Amended Claim. On June 6, New Jersey amended Claim No. 1035 by filing Claim No. 1034 against Parmalat USA and Farmland for $429,341. Recently, Farmland received a refund from New Jersey in connection with an overpayment of federal income taxes in 2002 and 2003. For income tax purposes, Parmalat U.S.A. files a separate federal income tax return that takes into account Farmland's operations. Accordingly, the Refund is directed to Parmalat U.S.A. Nonetheless, because Farmland is responsible for any and all liabilities related to the Amended Claims, the Refund is agreed to belong to Farmland. Against this backdrop, Farmland and Parmalat U.S.A. agree that the Refund will be deemed Farmland's property. Parmalat U.S.A. and Farmland are authorized to take all necessary actions to ensure the Refund is deposited in a Farmland bank account. Any and all liabilities related to the New Jersey Amended Claims or any other tax claims will be deemed Farmland's sole obligation. Headquartered in Wallington, New Jersey, Parmalat U.S.A. Corporation -- http://www.parmalatusa.com/-- generates more than EUR7 billion in annual revenue. The Parmalat Group's 40- some brand product line includes milk, yogurt, cheese, butter, cakes and cookies, breads, pizza, snack foods and vegetable sauces, soups and juices. The company employs over 36,000 workers in 139 plants located in 31 countries on six continents. It filed for chapter 11 protection on February 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139). Gary Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal & Manges LLP, represent the Debtors. When the U.S. Debtors filed for bankruptcy protection, they reported more than $200 million in assets and debts. The U.S. Debtors emerged from bankruptcy on April 13, 2005. (Parmalat Bankruptcy News, Issue No. 67; Bankruptcy Creditors' Service, Inc., 215/945-7000) (Parmalat Bankruptcy News, Issue No. 66; Bankruptcy Creditors' Service, Inc., 215/945-7000) CONTACT: PARMALAT S.p.A. Legal Seat 43044 Collecchio (Pr) Via Oreste Grassi, 26 Administrative Seat 20122 Milan Piazza Erculea, 9 Phone: +39 02 806 8801 Fax: +39 02 869 3863 Web site: http://www.parmalat.net VOLARE GROUP: Alitalia Dangles EUR40 Million -------------------------------------------- Alitalia is setting aside EUR40 million for the acquisition of ailing smaller rival Volare Group, AFX News says. In another report, daily MF said Alitalia has offered EUR27- EUR30 million to buy Volare and invest a further EUR10-EUR13 million. Also interested in Volare are AirOne, Eurofly-Meridiana, WindJet and the Miro Radici Textile & Energy (MRTE). MRTE has offered to inject EUR33 million into Volare over 12 to 18 months to relaunch the airline. It also offered to maintain Volare's current employment level of more than 200 people and rehire personnel. Volare administrator Carlo Rinaldini will announce the winning bidder Saturday. Volare declared insolvency on Nov. 22, 2004, citing huge debt and heavy losses. The group then filed for extraordinary administration, which allowed it to be protected from creditors while resuming daily operations. Volare emerged from administration in spring, after beating its EUR7 million revenue forecast by around EUR3.8 million. Volare needs fresh capital to expand its fleet. It plans to forge a strategic partnership with another airline to ensure it has enough planes to cover its flight slots. CONTACT: VOLARE GROUP S.p.A. Via Pirelli, 20 20124 Milan Phone: (+39) 02 673 631 Fax: (+39) 02 673 630 90 Web site: http://www.volare-group.it 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 MIRO RADICI TEXTILE & ENERGY Rovetta (BG) Localita Vogno Web site: http://www.miroradicitextileenergy.com =================== K A Z A K H S T A N =================== EDUCATIONAL CENTER: Folds up ---------------------------- The Liquidation Commission has declared OJSC Educational Center of Biotechnology insolvent. Appeals must be filed at Astana, Valihanova Str. 43, National Center of Biotechnology of the Republic of Kazakhstan. Call 8 (3172) 21-46-33 or 21-40-20 for more information. GOLDEN EAGLE: Succumbs to Insolvency ------------------------------------ Golden Eagle Partners C.A.P.L has declared insolvency. Creditors may submit their proofs of claim to Almata, Abylai- Hana Ave. 105. CONTACT: GOLDEN EAGLE PARTNERS C.AP.L Almaty Igisheva Str. 82 Phone: 8 (3272) 53-15-40 53-13-91 INSTITUTE OF PHARMACEUTICAL: Declared Insolvent ----------------------------------------------- The Liquidation Commission has declared OJSC Institute of Pharmaceutical (Industry) Biotechnology insolvent. Appeals must be filed at Astana, Valihanova Str. 43, National Center of Biotechnology of the Republic of Kazakhstan. Call 8 (3172) 21- 46-33 or 21-40-20 for more information. KENES: Gives Creditors Until January 7 to File Claims ----------------------------------------------------- The Specialized Inter-Regional Economic Court of Astana has declared LLC Company Kenes insolvent. Creditors may submit their proofs of claim to Astana, 9 May Str. 71a/102 until January 7, 2006. Call 8 (3172) 39-73-00 for more information. KYZMET LTD.: Creditors' Claims Due Weekend ------------------------------------------ The Specialized Inter-Regional Economic Court of Astana has declared LLC Kyzmet Ltd. insolvent. Creditors may submit their proofs of claim to Astana, 9 May Str. 71a/102 until January 7, 2006. Call 8 (3172) 39-73-00 for more information. MANAS LTD.: Court Declares Firm Insolvent ----------------------------------------- The Specialized Inter-Regional Economic Court of Astana has declared LLC Manas Ltd. insolvent. Creditors may submit their proofs of claim to Astana, 9 May Str. 71a/102 on or before January 7, 2006. Call 8 (3172) 39-73-00 for more information. TEHNOPARK NPO: Goes into Liquidation ------------------------------------ The Liquidation Commission has declared OJSC Tehnopark Npo Progress insolvent. Appeals must be filed at Astana, Valihanova Str. 43, National Center of Biotechnology of the Republic of Kazakhstan. Call 8 (3172) 21-46-33 or 21-40-20 for more information. =================== K Y R G Y Z S T A N =================== AK-BALYK: Sets Proofs of Claim Deadline --------------------------------------- LLC Ak-Balyk, which recently became insolvent, will accept proofs of claim at Naryn, Boogachy Str. 1. until February 23, 2006 KYZYR-ARTA: Creditors' Claims Due Next Month -------------------------------------------- LLC Kyzyr-Arta, which recently became insolvent, will accept proofs of claim at Bishkek, Srednaya Str. 19 until February 20, 2006. TRANCOM: Gives Creditors Until February to File Claims ------------------------------------------------------ LLC Trancom, which recently became insolvent, will accept proofs of claim at Bishkek, Tolstoy Str. 59/23 until February 20, 2006. ===================== N E T H E R L A N D S ===================== ROYAL NUMICO: Seals Acquisition of EAC Nutrition ------------------------------------------------ Royal Numico N.V. said it has completed the acquisition of EAC Nutrition, a leading Asian Baby Food Company. The acquisition is expected to be earnings neutral by the end of 2006 and accretive from there onwards. EAC Nutrition provides Numico with leading market positions through the highly recognized Dumex brand in the fast growing Asian Infant Nutrition market, most notably in China, Malaysia and Thailand. The Asian Infant Nutrition market forms a significant and sustainable opportunity characterized by a very low per capita consumption, a high number of births and increasing GDP per capita, offering ample growth opportunities. EAC Nutrition is an excellent strategic and geographical fit with Numico's existing business in Indonesia, Australia and New Zealand and provides Numico with a strong platform to benefit from the long-term growth potential of the Asia Pacific market. EAC Nutrition will be managed as a separate division within Numico and will be led by Mark Wilson, the former CEO of EAC, who will be proposed for appointment as member of Numico's Executive Board at Numico's AGM of 3 May 2006. The total consideration for the acquisition of EUR1,200 million has been financed through i) the equity offering that took place on 14 November 2005 raising EUR550 million, ii) a US private placement amounting to EUR168 million that was completed on 22 December 2005 and iii) the EUR1.25 billion new bank loan facility that was completed on 16 December 2005, which will finance the remainder (EUR482 million) of the acquisition. EAC Nutrition is primarily focused on the development, manufacturing and marketing of infant nutrition products under the Dumex family of brands, which include Mamex, Mamil, Dupro and Dugro in Asia. Next to its leading market positions in China, Thailand and Malaysia, EAC Nutrition has additional presences in the Philippines and India, as well as a growing export business to other markets in Asia and - to a lesser extent - the Middle East. EAC Nutrition currently employs approx. 2,250 people including more than 475 Nutrition Advisors working with local Health Care Professionals to provide education and information on Baby Nutrition. Royal Numico is a high-growth, high-margin, specialist baby food and clinical nutrition company. Acknowledged as the European market leader in infant nutrition and medical nutrition, its products range from infant milk formula to specialized nutrition for babies with specific needs and for breastfeeding mothers. For people with specific nutritional requirements, Numico offers a complete range of enteral clinical nutrition, diet products and disease-specific nutrition. CONTACT: ROYAL NUMICO N.V. Web site: http://www.numico.com Corporate Communications Phone: +31 20 456 9077 Investor Relations Phone: +31 20 456 9003 ROYAL SHELL: Completes Construction of Guangdong Facility --------------------------------------------------------- Royal Dutch Shell plc has welcomed the announcement by the Board of CNOOC and Shell Petrochemicals Company Limited (CSPC) that construction of its world-scale petrochemicals complex at Daya Bay, Guangdong (China) is complete and final preparations are being made for start-up. The construction of the world-class facility has been completed within the expected schedule and budget. The Daya Bay project is fundamental to the Shell strategic objective to grow a significant presence in China, where demand for plastics and packaging is expected to make up 30% of world consumption by 2010. The investment is consistent with the Shell strategy of "more upstream, profitable downstream." Completion of construction is a key milestone since work started in November 2002 on the world-scale petrochemicals project, which is a joint investment by China National Offshore Oil Corporation (CNOOC), Royal Dutch Shell (Shell) and Guangdong. The petrochemicals complex, so far the largest joint venture project in China with a total investment of US$4.3 billion will after start-up manufacture 2.3 million tonnes of petrochemicals products which will be supplied to markets in Guangdong Province and Southeast Coastal China where demands for petrochemicals products are strong. Luo Han, chairman of the board of CSPC, said: "This world-class petrochemicals complex encountered great challenges and overcame various obstacles during the course of construction. We are glad to see that the complex, with the endeavors of all parties, is completed within the expected schedule and budget and has met the world-class standards in general. It compares well with the projects of similar scale and complexity in the world. We would like to congratulate the Chinese and foreign construction personnel and thank all the parties who have given attention and support to the construction of the project." Tan Ek Kia, vice chairman of the board of CSPC, said: "We are indeed very pleased with the progress of the project and are proud of the construction personnel who have worked very hard to deliver this project as planned despite the significant challenges they faced during the course of the construction. In particular, we note with pride that CSPC has led the way as a role model for sustainable development in the petrochemical industry for China." Simon Lam, General Manager of CSPC, said: "Every employee of CSPC is very excited about what we have accomplished to date. Most of the utilities units and general facilities have already been on operation for several months. The cracker and downstream units are being progressively phased in as part of an integrated start up plan with full complex product in tank expected in the next few weeks." 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 last 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 =========== R U S S I A =========== ABRAMOVSKOYE: Voronezh Court Opens Bankruptcy Proceedings --------------------------------------------------------- The Arbitration Court of Voronezh region commenced bankruptcy proceedings against Abramovskoye after finding the open joint stock company insolvent. The case is docketed as A14-7502- 2005/65/20b. Mr. E. Shur has been appointed insolvency manager. Creditors have until January 8, 2006 to submit their proofs of claim to: (a) ABRAMOVSKOYE Russia, Voronezh region, Talovskiy region, Abramovka, Zheleznodorozhnaya Str. 1 (b) E. SHUR Insolvency Manager 397490, Russia, Voronezh region, Talovskiy region, Abramovka, Zheleznodorozhnaya Str. 1 (c) ARBITRATION COURT OF VORONEZH REGION 394030, Russia, Voronezh region, Srednemoskovskaya Str. 77 BELORETSK-STROY: Succumbs to Bankruptcy --------------------------------------- The Arbitration Court of Bashkortostan republic commenced bankruptcy proceedings against Beloretsk-Stroy (TIN 0256005505) after finding the open joint stock company insolvent. The case is docketed as A07-4764/03-A-RSA/KhRM. Mr. M. Rakhimov has been appointed insolvency manager. Creditors have until January 8, 2006 to submit their proofs of claim to 450071, Russia, Bashkortostan republic, Ufa, 50 Let SSSR, 29, Apartment 17. CONTACT: BELORETSK-STROY 453500, Russia, Bashkortostan republic, Beloretsk, Blyukhera Str. 137 M. RAKHIMOV Insolvency Manager 450071, Russia, Bashkortostan republic, Ufa, 50 Let SSSR, 29, Apartment 17 BIRSKIY ELEVATOR: Declared Insolvent ------------------------------------ The Arbitration Court of Bashkortostan republic commenced bankruptcy proceedings against Birskiy Elevator after finding the company insolvent. The case is docketed as A07-12389/05-G- ADM. Mr. V. Palaksov has been appointed insolvency manager. Creditors have until January 8, 2006 to submit their proofs of claim to 452453, Russia, Bashkortostan republic, Birsk, Krasnoarmeyskaya Str. 5a. CONTACT: BIRSKIY ELEVATOR 452453, Russia, Bashkortostan republic, Birsk, Krasnoarmeyskaya Str. 5a V. PALAKSOV Insolvency Manager 452453, Russia, Bashkortostan republic, Birsk, Krasnoarmeyskaya Str. 5a BREWERY VODOLEY: Bankruptcy Hearing Set Next Month -------------------------------------------------- The Arbitration Court of Krasnodar region has commenced bankruptcy supervision procedure on limited liability company Brewery Vodoley. The case is docketed as A32-30042/2005-2/416- B. Mr. O. Luchkov has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to 452913, Russia, Krasnodar region, Armavir, Post User Box 957. A hearing will take place on February 16, 2006, 2:30 p.m. CONTACT: BREWERY VODOLEY Russia, Krasnodar region, Armavir, Uritskogo Str. 1 O. LUCHKOV Temporary Insolvency Manager 452913, Russia, Krasnodar region, Armavir, Post User Box 957 GLAZOVSKAYA: Files for Bankruptcy --------------------------------- The Arbitration Court of Udmurtiya republic commenced bankruptcy proceedings against Glazovskaya after finding the agro industrial company insolvent. The case is docketed as A71- 20/2005-G2. Mr. A. Galushko has been appointed insolvency manager. Creditors have until January 8, 2006 to submit their proofs of claim to: (a) GLAZOVSKAYA Russia, Udmurtiya republic, Izhevsk, Severnyj, 61-915 (b) A. GALUSHKO Insolvency Manager 426034, Russia, Udmurtiya republic, Izhevsk, 50 Let Oktyabrya Square, 2 (c) ARBITRATION COURT OF UDMURTIYA REPUBLIC 426004, Russia, Udmurtiya republic, Izhevsk region, Lomonosova Str. 5 REINFORCED CONCRETE: Kemerovo Court Appoints Insolvency Manager --------------------------------------------------------------- The Arbitration Court of Kemerovo region commenced bankruptcy proceedings against Reinforced Concrete Goods (TIN 4208003304) after finding the factory insolvent. The case is docketed as A27-9405/2005-4. Mr. G. Kuptsov has been appointed insolvency manager. Creditors have until January 8, 2006 to submit their proofs of claim to 650021, Russia, Kemerovo region, Petrozavodskaya Str. 1B. CONTACT: REINFORCED CONCRETE GOODS 650044, Russia, Kemerovo region, Shakhterskaya Str. 9 G. KUPTSOV Insolvency Manager 650021, Russia, Kemerovo region, Petrozavodskaya Str. 1B RUS': Bankruptcy Hearing Resumes March -------------------------------------- The Arbitration Court of Krasnodar region has commenced bankruptcy supervision procedure on close joint stock company Rus' (TIN/KPP 2320029877/232001001). The case is docketed as A32-18256/2005-44/251-B. Ms. I. Zhmurko has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to 354024, Russia, Sochi, Kurortnyj Pr. 108. A hearing will take place on March 13, 2006, 11 a.m. at the Arbitration Court of Krasnodar region at Russia, Krasnodar region, Krasnaya Str. 6. CONTACT: I. ZHMURKO Temporary Insolvency Manager 354024, Russia, Sochi, Kurortnyj Pr. 108 STEEL-CONSTRUCTION-2: Declared Insolvent ---------------------------------------- The Arbitration Court of Kemerovo region commenced bankruptcy proceedings against Steel-Construction-2 after finding the limited liability company insolvent. The case is docketed as A27-29437/2005-4. Mr. A. Zakharov has been appointed insolvency manager. Creditors may submit their proofs of claim to 653052, Russia, Kemerovo region, Prokopyevsk, 10th Location, 13, Apartment 16. CONTACT: STEEL-CONSTRUCTION-2 Russia, Kemerovo region, Novokuznetsk, Territory of OJSC ZSMK A. ZAKHAROV Insolvency Manager 653052, Russia, Kemerovo region, Prokopyevsk, 10th Location, 13, Apartment 16 STROY-INDUSTRY: Proofs of Claim Deadline January 8 -------------------------------------------------- The Arbitration Court of Krasnoyarsk region commenced bankruptcy proceedings against Stroy-Industry after finding the open joint stock company insolvent. The case is docketed as A33-16484/03- s4. Mr. N. Rasskazov has been appointed insolvency manager. Creditors have until January 8, 2006 to submit their proofs of claim to 662150, Russia, Krasnoyarsk region, Achinsk, Yuzhnaya Prom.Zone, Block 1, Building 10. CONTACT: STROY-INDUSTRY 662150, Russia, Krasnoyarsk region, Yuzhnaya Prom.Zone, Block 1, Building 10 N. RASSKAZOV Insolvency Manager 662150, Russia, Krasnoyarsk region, Achinsk, Yuzhnaya Prom.Zone, Block 1, Building 10 WIRING ENTERPRISE: Claims Filing Period Ends Sunday --------------------------------------------------- The Arbitration Court of Voronezh region commenced bankruptcy proceedings against Wiring Enterprise after finding the open joint stock company insolvent. The case is docketed as A14- 4001/2005/18/16b. Mr. A. Ivanov has been appointed insolvency manager. Creditors have until January 8, 2006 to submit their proofs of claim to 394026, Russia, Voronezh region, Moskovskiy Pr. 7, Office TsPOSN. CONTACT: WIRING ENTERPRISE Russia, Voronezh region, Montazhnyj Per. 3 A. IVANOV Insolvency Manager 394026, Russia, Voronezh region, Moskovskiy Pr. 7, Office TsPOSN YUKOS OIL: Rosneft Settles Yukos Debt to Western Banks ------------------------------------------------------ State-owned Rosneft Oil Company has finally decided to pay back the US$473 million outstanding debt of Yukos to a group of Western banks, local daily Vedomosti says. Rosneft is the new owner of former Yukos core production unit Yuganskneftegaz, which guaranteed the debt with deliveries of crude oil. The debt is what remains of a US$1 billion loan granted in 2003 by the banks led by France's Societe Generale, Citigroup Inc., Deutsche Bank AG, Commerzbank AG, BNP Paribas S.A., ING Bank N.V., Credit Lyonnais, and HSBC. Yukos availed of the loan to pre-finance sale of oil and for general corporate purposes. It includes a three-year US$500 million loan facility and a five- year US$500 million loan facility. According to MosNews, Yukos stopped paying the banks in December 2004 after Yugansk was sold. The lenders claim Yukos missed interest payments due in March and April 2005. In July, Yukos admitted receiving a notification of default. Rosneft agreed to settle the loan before the end of the year after the banks threatened to sue and warned of cross-default on its own loans. According to Western bankers and Rosneft managers, Rosneft agreed to pay the remaining part of Yukos' debt, but refused to fulfill guarantees for the second credit of US$1.6 billion that was also taken out by Yukos. 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. 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 I T Z E R L A N D ===================== SWISSAIR: Luxembourg Shareholders to Acquire Shares in Cargolux --------------------------------------------------------------- On Dec. 19, 2005, M. Karl Wuethrich, co-liquidator of SAirLines and the Luxembourgish shareholders of Cargolux, under the coordination of M. Marc Hoffmann, chairman of the board of Luxair, have jointly announced their agreement on a transaction providing for the acquisition of the 33.7% of Cargolux shares currently held by SAirLines. The transaction will be executed by Luxair on behalf of all the Luxembourgish shareholders (Luxair - 34.9%; BGL Investment Partners - 11.5%; BCEE - 8.8%; SNCI - 8.6%; Lux-AVANTAGE - 2.2%). About the Company Swissair collapsed in 2001 after accumulating debt in relation to significant investments in a number of European airlines including Sabena, Air Liberte of France and Turkish Airlines. It defaulted on the debt during the slump that followed the September 11 terrorist attacks in the U.S. CONTACT: WENGER PLATTNER Web site: http://www.liquidator-swissair.ch Filippo Th. Beck, Liquidator Phone: 043 222 38 00 Fax: 043 222 38 01 ============= U K R A I N E ============= ALMAZ: Insolvency Manager Takes over Operations ----------------------------------------------- The Economic Court of Lviv region commenced bankruptcy proceedings against Almaz (code EDRPOU 22350077) on August 29, 2005 after finding the limited liability company insolvent. The case is docketed as 6/158-29/171. Mr. Vitalij Vinnikov (License Number AA 779141) has been appointed liquidator/insolvency manager. The company holds account number 26005000628001 at JSC Ukrinbank, MFO 385826. CONTACT: ALMAZ 79063, Ukraine, Lviv region, Volodimir Velikij Str. 52 VITALIJ VINNIKOV Liquidator/Insolvency Manager Ukraine, Lviv region, Pustomiti, Sportivna Str. 2/9 ECONOMIC COURT OF LVIV REGION 79010, Ukraine, Lviv region, Lichakivska Str. 81 ATLAS-MASTER: Goes into Liquidation ----------------------------------- The Economic Court of Kyiv region commenced bankruptcy proceedings against LLC Atlas-Master (code EDRPOU 32769251) on November 17, 2005 after finding the limited liability company insolvent. The case is docketed as 43/878. Ms. Svitlana Babich has been appointed liquidator/insolvency manager. The company holds account number 2600700890099 at JSCB Pravex-Bank, Kyiv branch, MFO 321983. CONTACT: ATLAS-MASTER 02093, Ukraine, Kyiv region, Borispilska Str. 19 SVITLANA BABICH Liquidator/Insolvency Manager 04053, Ukraine, Kyiv region, Artema Str. 1/5, office 701 ECONOMIC COURT OF KYIV REGION 01030, Ukraine, Kyiv region, B. Hmelnitskij Boulevard 44-B ENERGETIK: Under Bankruptcy Supervision --------------------------------------- The Economic Court of Sumi region commenced bankruptcy supervision procedure on Energetik on November 21, 2005. The case is docketed as 12/107-05. Mr. Yevgen Chuprun (License Number AB 176263) has been appointed temporary insolvency manager. CONTACT: ENERGETIK 41200, Ukraine, Sumi region, Yampil YEVGEN CHUPRUN Temporary Insolvency Manager Ukraine, Sumi region, Petropavlivska Str. 74, Room 49-A ECONOMIC COURT OF SUMI REGION 40030, Ukraine, Sumi region, Shevchenko Avenue 18/1 OSIRIS: Insolvency Manager Enters Firm -------------------------------------- The Economic Court of Donetsk region commenced bankruptcy proceedings against Osiris (code EDRPOU 32389059) on November 21, 2005 after finding the limited liability company insolvent. The case is docketed as 42/200 B. Ruteks-Export has been appointed Liquidator. The company holds account number 2005010110800 at CB Yuzgkombank, Donetsk branch, MFO 335946. CONTACT: OSIRIS 83052, Ukraine, Donetsk region, Shahtobudivnikiv Boulevard 19 LIQUIDATOR/INSOLVENCY MANAGER 83052, Ukraine, Donetsk region, Illicha Avenue 80 ECONOMIC COURT OF DONETSK REGION 83048, Ukraine, Donetsk region, Artema Str. 157 P0ODILSKE: Declared Insolvent ----------------------------- The Economic Court of Cherkassy region commenced bankruptcy proceedings against Podilske (code EDRPOU 00851382) on November 15, 2005 after finding the limited liability company insolvent. The case is docketed as 14/1447. Mr. Sergij Nazarenko has been appointed liquidator/insolvency manager. CONTACT: PODILSKE Ukraine, Cherkassy region, Zolotonosha district, Podilske SERGIJ NAZARENKO Liquidator/Insolvency Manager 18000, Ukraine, Cherkassy region, Dobrovolskij Str. 3/1-25 Phone: 8 (0472) 43-22-93 8 (050) 464-03-04 ECONOMIC COURT OF CHERKASSY REGION 18005, Ukraine, Cherkassy region, Shevchenko Avenue 307 UKRTATNAFTA-HERSON: Court Appoints Insolvency Manager ----------------------------------------------------- The Economic Court of Herson region commenced bankruptcy proceedings against Ukrtatnafta-Herson (code EDRPOU 30329919) on October 21, 2005 after finding the limited liability company insolvent. The case is docketed as 6/105-B-05. Ms. Tetyana Paseka (License Number AA 783241) has been appointed liquidator/insolvency manager. CONTACT: UKRTATNAFTA-HERSON Ukraine, Herson region, Tiraspiska Str. 60-a TETYANA PASEKA Liquidator/Insolvency Manager Ukraine, Herson region, 9 Sichnya Str. 15, Office 53 Phone/Fax: 8 (0552) 54-76-82 ECONOMIC COURT OF HERSON REGION 73000, Ukraine, Herson region, Gorkij Str. 18 =========================== U N I T E D K I N G D O M =========================== A.C.S. BUSINESS: Calls in Liquidator ------------------------------------ K. A. Allen, director of A.C.S. Business Consultants Limited, informs that the extraordinary and ordinary resolutions to wind up the firm were passed at an EGM held on Nov. 23 at the offices of Parkin S. Booth & Co, Abbeydale, 24 Trinity Square, Llandudno LL30 2RH. Robert M. Rutherford of Parkin S Booth & Co, Abbeydale, 24 Trinity Square, Llandudno LL30 2RH was appointed liquidator. CONTACT: PARKIN S. BOOTH & CO. Abbeydale 24 Trinity Square Llandudno Gwynedd LL30 2RH Phone: 01492 871474 Fax: 01492 871475 E-mail: rmr@parkinsbooth.co.uk AEGIS INSURANCE: Appoints Joint Liquidators ------------------------------------------- G. J. Lancaster, chairman of Aegis Insurance Brokers Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 17 at Devonshire House, 60 Goswell Road, London EC1M 7AD. Nicholas John Miller and Ian Robert of Kingston Smith & Partners LLP, Devonshire House, 60 Goswell Road, London EC1M 7AD were appointed Joint Liquidators. CONTACT: AEGIS INSURANCE BROKERS LIMITED Icknield House, Eastcheap Letchworth Hertfordshire SG6 3DF Phone: 01462 480367 Fax: 01462 482507 E-mail: letchworth@aegispolicies.co.uk Web site: http://www.aegispolicies.co.uk KINGSTON SMITH AND PARTNERS LLP Devonshire House, 60 Goswell Road, London EC1M 7AD Phone: 020 7566 4000 Fax: 020 7566 4010 Web site: http://www.kingstonsmith.co.uk ALLEN CHARLTON: Hires Tenon Recovery to Liquidate Business ---------------------------------------------------------- T. C. Jones, director of Allen Charlton Associates Limited, informs that resolutions to wind up the company were passed at an EGM held no Nov. 23 at Lyndean House, 43-46 Queens Road, Brighton BN1 3XB. Ian Cadlock and A. J. Pear of Tenon Recovery, Lyndean House, 43- 46 Queens Road, Brighton BN1 3XB were appointed Joint Liquidators. The appointment was confirmed at a creditors meeting held the same day. CONTACT: ALLEN CHARLTON ASSOCIATES LIMITED 133 High Street, Hurstpierpoint Hassocks, West Sussex BN6 9PU Phone: 01273834837 TENON RECOVERY Lyndean House, 43-46 Queens Road, Brighton, East Sussex BN1 3XB Phone: 01273 725566 Fax: 01273 724502 Web site: http://www.tenongroup.com BJM TRADING: Furniture Firm Folds up ------------------------------------ Mark Bean, chairman of BJM Trading Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 17 at 48 Langham Street, London W1W 7AY. S. P. J. Wadsted of Middleton Partners, 48 Langham Street, London W1W 7AY was appointed liquidator. BJM Trading in Northern England makes leather sofas, dining furniture, bedroom furniture, beds and mattresses. Its products are distributed as Interline Italia. CONTACT: BJM TRADING LIMITED Unit 3B, Airedale Ind. Est., Kitson Road, Hunslet, Leeds LS10 1NT Phone: 01132 444450 Fax: 01132 444440 Web Site: http://www.wholesale-furniture.co.uk/ Contact: Mark Bean, Managing Director, CEO MEDDLETON PARTNERS 48 Langham Street London W1W 7AY Phone: 0845 061 6000 020 7908 6190 Fax: 020 7908 6111 E-mail: enquiries@middletonpartners.co.uk Web site: http://www.middletonpartners.co.uk BLAKES OF MONTPELLIER: Files for Liquidation -------------------------------------------- S. Brown, Director of Blakes of Montpellier Limited, informs that the extraordinary resolutions to wind up the firm was passed at an EGM held on Nov. 22 at Hepworth Joyce Associates Ltd., 29 Brunswick Road, Gloucester GL1 1JE. M. C. Hepworth of Hepworth Joyce Associates Ltd, Unit 2, Clarke Hall Farm, Aberford Road, Wakefield WF1 4AL was appointed liquidator. CONTACT: HEPWORTH JOYCE ASSOCIATES LTD. Unit 2, Clarke Hall Farm, Aberford Road, Wakefield WF1 4AL CLARPO MANUFACTURERS: Cheap Imports Kill Local Shirt Maker ---------------------------------------------------------- Cheap imports from China have claimed another victim. Clarpo Manufacturers Limited blamed the deluge of Chinese shirts and blouses in the market for its decision to halt operations just before Christmas, The Daily Post reported on December 30. The family-run company, which has been operating in Bagillt, North Wales since 1946, said there is no way it can "trade out of its difficulties." The closure leaves 22 jobless. Liquidator Begbies Traynor, following a meeting with creditors recently, issued this statement: "Clarpo Manufacturers has decided to close its doors after almost 60 years of trading due to the fact that goods can now be produced in China and Africa far cheaper than can be produced in the U.K. "In addition to the problem, the minimum wage which has gone up over the last two years from GBP3.85 to its current level of GBP5.05 has increased the company's overhead base and has reduced margins considerably. The directors are extremely sad at the closure of the business." The company, which can make up to 1,200 shirts and blouses a week, used to supply the London and Kent Fire Brigades, the Welsh Ambulance Service and Sharp Manufacturing. CONTACT: CLARPO MANUFACTURERS LTD. Unit 13 Manor Industrial Estate Flint, Flintshire CH6 5UY Phone: 01352 712183 Fax: 01352 713193 E-mail: clarpoltd@btconnect.com Web site: http://www.clarpo.com D K STONE: Liquidators from Begbies Traynor Take over Firm ---------------------------------------------------------- K. Stalholt, chairman of D K Stone Limited, informs that the extraordinary and ordinary resolutions to wind up the firm were passed at an EGM held on Nov. 22 at Chiltern House, 24-30 King Street, Watford WD18 0BP. Richard Andrew Segal and Paul Michael Davis of Begbies Traynor (South) LLP, Chiltern House, 24-30 King Street WD18 0BP were appointed joint liquidators. CONTACT: BEGBIES TRAYNOR Chiltern House, 24-30 King Street, Watford WD18 0BP Phone: 01923 812900 Fax: 01923 812999 Web site: http://www.begbies.com GREAVE AND THORNTON: Names Kakouris & Michaelides Liquidator ------------------------------------------------------------ A. Iqbal, chairman of Greave And Thornton Investments Ltd., informs that the extraordinary resolutions to wind up the company were passed at an EGM held on Nov. 24 at 43 Blackstock Road, London N4 2JF. Andreas Georgiou Kakouris of 43 Blackstock Road, London N4 2JF was nominated liquidator. CONTACT: KAKOURIS & MICHAELIDES 43 Blackstock Road London N4 2JF Phone: 020 7226 6196 Fax: 020 7704 6500 E-mail: info@agkakouris.co.uk GREEN TREES: Tenon Recovery Liquidator Enters Firm -------------------------------------------------- D. Hart, chairman of Green Trees Trading Limited (formerly Hart Worldwide Limited), informs that the subjoined extraordinary resolution to wind up the company was passed at an EGM held on Nov. 17 at 73 Baker Street, London W1U 6RD. D. R. Beat of Tenon Recovery, 6th Floor, Salisbury House, 31 Finsbury Circus, London EC2M 5SQ was appointed liquidator. CONTACT: TENON RECOVERY Salisbury House 31 Finsbury Circus London EC2M 5SQ Phone: 020 7628 2040 Fax: 020 7638 0217 Web site: http://www.tenongroup.com HI-TECH (SOUTH): Calls in Chantrey Vellacott Liquidator ------------------------------------------------------- R. Acland, chairman of Hi-Tech (South) Limited, informs that the subjoined extraordinary resolution to wind up the firm was passed at an EGM held on Nov. 17 at Town Wall House, Balkerne Hill, Colchester, Essex CO3 3AD. J. C. Heath of Chantrey Vellacott DFK, Town Wall House, Balkerne Hill, Colchester, Essex CO3 3AD, and K. W. Touhey of Chantrey Vellacott DFK, 16-17 Boundary Road, Hove, East Sussex BN3 4AN were appointed joint liquidators. Hi Tech -- http://www.hi-tech-south.co.uk/-- provides a unique blend of IT services to a diverse range of customers. CONTACT: HI TECH SUPPORT LTD. The Black Barn The Folley Layer-de-la-Haye Colchester Essex CO2 0HZ Phone: +44(0) 1206 235 000 Fax: +44(0) 1206 235 001 E-mail: info@htssupport.com CHANTREY VELLACOTT DFK Town Wall House Balkerne Hill Colchester CO3 3AD Phone: 01206 578 004 Fax: 01206 763 386 E-mail: jheath@cvdfk.com CHANTREY VELLACOTT DFK 16-17 Boundary Road, Hove, East Sussex BN3 4AN Phone: 01273 421200 E-mail: info_hove@chantrey-vellacott.com Web site: http://www.cvdfk.com HUNTS PATIO: Opts for Liquidation --------------------------------- S. Farrington, director of Hunts Patio World Limited, informs that the extraordinary and ordinary resolutions to wind up the firm were passed at an EGM held on Nov. 15 at Novotel Coventry, Wilsons Lane, Longford, Coventry CV6 6HL. Peter Anthony Jackson was appointed liquidator. CONTACT: JACKSON GREGORY & CO. 14 Wood Street Bolton BL1 1DZ Phone: 01204 397973 Fax: 01204 387833 E-mail: mail@jacksongregory.co.uk IN CAR: Calls in David Rubin & Partners --------------------------------------- R. Dattani, chairman of In Car Entertainment (UK) Limited, informs that the extraordinary resolution to wind up the firm was passed at an EGM held on Nov. 18 at David Rubin & Partners, 1st Floor, 26-28 Bedford Row, London WC1R 4HE. Paul Appleton of David Rubin & Partners, 1st Floor, 26-28 Bedford Row, London WC1R 4HE was appointed liquidator. CONTACT: IN CAR ENTERTAINMENT UK LTD. The Vale London W3 7RD Phone: 020 87435533 Fax: 020 8742944 DAVID RUBIN & PARTNERS 26-28 Bedford Row, London WC1R 4HE E-mail: info@davidhornerandco.co.uk Web site: http://www.davidhornerandco.co.uk JOINERS LIVE: Hires HJS Recovery as Liquidator ---------------------------------------------- M. Chapman, chairman of Joiners Live Limited, informs that the extraordinary and ordinary resolutions to wind up the firm were passed at an EGM held on Nov. 22 at Jurys Inn Southampton, 1 Charlotte Place, Southampton, Hampshire SO14 0TB. Gordon Johnston of hjs Recovery, 12-14 Carlton Place, Southampton, Hampshire SO15 2EA was appointed liquidator. CONTACT: HJS 12-14 Carlton Place Southampton Hampshire SO15 2EA Phone: 023 8023 4222 Fax: 023 8023 4888 E-mail: gordon.johnston@hjsaccountants.co.uk KEY GUARDING: Names Jackson Jolliffe Cork Liquidator ---------------------------------------------------- M. Hayward, chairman of Key Guarding Services Limited, informs that the extraordinary and ordinary resolutions to wind up the firm were passed at an EGM held on Nov. 16 at Campanile Hotel, Beverley Road, Freetown Way, Hull HU2 9AN. Matthew Colin Bowker and David Antony Willis of Jacksons Jolliffe Cork, Lowgate House, Lowgate, Hull HU1 1EL were appointed joint liquidators. CONTACT: KEY GUARDING SERVICES LTD. Suite 10 Dunston House, Livingstone Rd., Hessle HU13 0EG Phone: 01482 642255 Fax: 01482 640926 JACKSON JOLLIFFE CORK Lowgate House, Lowgate, Hull HU1 1EL Web site: http://www.jjcork.co.uk KINGSTON TILE: Appoints Liquidator from Gibson Hewitt & Co. ----------------------------------------------------------- A. Halsey, chairman of Kingston Tile Company Limited, informs that the extraordinary resolution to wind up the firm was passed at an EGM held on Nov. 22 at 5 Park Court, Pyrford Road, West Byfleet, Surrey. Lynn Gibson and Robert David Hewitt of Gibson Hewitt, 5 Park Court, Pyrford Road, West Byfleet, Surrey were appointed joint liquidators. CONTACT: KINGSTON TILE CO. LTD The Tile Shop 41 London Road Kingston Upon Thames Surrey KT2 6ND Phone: (020) 8546 3394 Fax: (020) 8546 3507 Web site: http://www.kingstonmosaic.com GIBSON HEWITT & CO 5 Park Court Pyrford Road West Byfleet Surrey KT14 6SD Phone: 01932 336149 Fax: 01932 336150 E-mail: robert@gibsonhewitt.co.uk KODICOM EUROPE: DVR Maker Files for Liquidation ----------------------------------------------- K. S. Kim, chairman of Kodicom Europe Limited, informs that the subjoined extraordinary resolution to wind up the firm was passed at an EGM held on Nov. 15 at BDO Stoy Hayward LLP, 8 Baker Street, London W1U 3LL. Malcolm Cohen and Antony David Nygate of BDO Stoy Hayward LLP, 8 Baker Street, London W1U 3LL were appointed joint liquidators. Kodicom Europe Ltd. -- http://www.kodicomeu.com/-- manufactures digital video recorders. CONTACT: KODICOM EUROPE LTD. Unit 5 Kingsmill Business Park Chapel Mill Road, Off Villiers Road KT1 3AP Kinston-Upon United Kingdom Phone: +44 20 85-46-9111 Fax: +44 20 85-46-1872 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 LE DOVE: Liquidator Takes over Firm ----------------------------------- C. Boreham, director of Le Dove Limited, informs that the extraordinary and ordinary resolutions to wind up the firm were passed at an EGM held on Nov. 16 at Sheraton House, Castle Park, Cambridge CB3 0AX. Andrew McTear of McTear Williams & Wood, 90 St Faiths Lane, Norwich NR1 1NE was appointed liquidator. CONTACT: MCTEAR WILLIAMS & WOOD 90 St Faiths Lane, Norwich NR1 1NE Phone: 01603 877540 Fax: 01603 877549 E-mail: mail@mw-w.com Web site: http://www.mw-w.com MILDMANOR LIMITED: Begbies Traynor to Liquidate Assets ------------------------------------------------------ N. Hector, chairman of Mildmanor Limited, informs that the extraordinary and ordinary resolutions to wind up the firm were passed at an EGM held on Nov. 15 at 1 Winckley Court, Chapel Street, Preston PR1 8BU. David P. Appleby of Begbies Traynor, 1 Winckley Court, Chapel Street, Preston, Lancashire PR1 8BU was appointed liquidator. CONTACT: MILDMANOR LTD. 4th Floor Gainsborough House 109 Portland Street Manchester M1 6DN BEGBIES TRAYNOR 1 Winckley Court Chapel Street Preston PR1 8BU Phone: 01772 202000 Fax: 01772 200099 E-mail: preston@begbies-traynor.com Web site: http://www.begbies.com M & M SECURITY: Hires Wilson Pitts Liquidator --------------------------------------------- M. Wilson, director of M & M Security Services Ltd., informs that the extraordinary and ordinary resolutions to wind up the firm were passed at an EGM held on Nov. 16 at Premier Travel Inn, Northern Perimeter Road, Bootle L30 7PT. D. F. Wilson and J. N. R. Pitts were appointed joint liquidators. CONTACT: M & M SECURITY SERVICES (MANCHESTER) LTD. 25 Manchester Road, Bury, Lancashire BL9 9HL Phone: 01617631202 WILSON PITTS Glendevon House Hawthorn Park Coal Road Leeds West Yorkshire LS14 1PQ Phone: 0113 237 5560 Fax: 0113 237 5561 NEW CONCEPT: Appoints Joint Liquidators from Tenon Recovery ----------------------------------------------------------- S. Bray, chairman of New Concept Creative Limited, informs that a resolution to wind up the company was passed at an EGM held on Nov. 16 at Highfield Court, Tollgate, Chandlers Ford, Eastleigh SO53 3TZ. Nigel Ian Fox and Carl Stuart Jackson of Tenon Recovery, Highfield Court, Tollgate, Chandlers Ford, Eastleigh, Hampshire SO53 3TZ were appointed Joint Liquidators. The appointment was confirmed at a creditors meeting held the same day. CONTACT: NEW CONCEPT CREATIVE LTD. Unit 2 Upr Norwich Road Bournemouth, Dorset BH2 2RA Phone: 01202587872 TENON RECOVERY Highfield Court, Tollgate, Chandlers Ford, Eastleigh, Hampshire SO53 3TZ Phone: 023 8064 6464 Fax: 023 8064 6666 E-mail: southampton@tenongroup.com Web site: http://www.tenongroup.com ORANGE SCAFFOLDING: Begbies Traynor Liquidators Move in ------------------------------------------------------- J. J. Horrigan, chairman of Orange Scaffolding Cardiff Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 18 at 5th Floor, Riverside House, 31 Cathedral Road, Cardiff. John W. Davies and David Hill of Begbies Traynor, 5th Floor, Riverside House, 31 Cathedral Road, Cardiff CF11 9HB were appointed Joint Liquidators. CONTACT: ORANGE SCAFFOLDING CARDIFF LTD. 372 Cowbridge Rd East Cardiff CF5 1HE Phone: 029 2022 8423 BEGBIES TRAYNOR 4th Floor, Riverside House, 31 Cathedral Road, Cardiff CF11 9HB Phone: 029 2022 5022 Fax: 029 2022 4523 E-mail: cardiff@begbies-traynor.com Web site: http://www.begbies.com PRESTIGE HOMES: Goes into Liquidation ------------------------------------- B. Taylor, chairman of Prestige Homes (Southern) Limited, informs that a resolution to wind up the company was passed at an EGM held on Nov. 18 at David Rubin & Partners, Pearl Assurance House, 319 Ballards Lane, London N12 8LY. Henry Lan of David Rubin & Partners, Pearl Assurance House, 319 Ballards Lane, London N12 8LY was appointed liquidator. CONTACT: PRESTIGE HOMES (SOUTHERN) LIMITED Symal House Edgware Road London NW9 0HU Phone: 020 89058855 DAVID RUBIN & PARTNERS Pearl Assurance House, 319 Ballards Lane, London N12 8LY Phone: 020 8343 5900 Fax: 020 8446 2994 Web site: http://www.drpartners.com SOUTH BUCKS: Files for Liquidation ---------------------------------- R. Alabaster, director of South Bucks Tools Ltd., informs that a resolution to wind up the company was passed at an EGM held on Nov. 22 at 21-23 Station Road, Gerrards Cross, Buckinghamshire SL9 8ES. Helen Timothe Phillips of 21-23 Station Road, Gerrards Cross, Buckinghamshire SL9 8ES was appointed liquidator. CONTACT: SOUTH BUCKS TOOLS LTD. 6 Britannia Industrial Park Dashwood Avenue, High Wycombe Buckinghamshire HP12 3ES Phone: 01494449959 PHILLIPS & CO 21/23 Station Road Gerrards Cross Buckinghamshire SL9 8ES Phone: 01753 883315 Fax: 01753 886324 E-mail: insol@phillipsinsolvency.co.uk SYNAPSE CREATIVE: Creditors Okay Appointment of Liquidator ---------------------------------------------------------- R. E. G. Walker, chairman of Synapse Creative Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 22 at MWB Business Exchange, 77 Oxford Street, London W1D 2ES. A. Graham of Hamilton Insolvency Practitioners Limited, Omega Court, 368 Cemetery Road, Sheffield S11 8FT was appointed liquidator. The appointment was confirmed at a creditors meeting held the same day. CONTACT: SYNAPSE CREATIVE LTD. 18 Paramount Ind. Estate Sandown Road Watford WD24 7XG Phone: 44 (0) 1923 239 444 Fax: 44 (0) 1923 237 003 Web site: http://www.synapse-creative.com/ TALKING HEADS: In Liquidation ----------------------------- L. Power, director of Talking Heads Limited, informs that a resolution to wind up the company was passed at an EGM held on Nov. 18 at 20 Winmarleigh Street, Warrington, Cheshire WA1 1JY. Robert W. Keating of R. W. Keating & Co, 20 Winmarleigh Street, Warrington, Cheshire WA1 1JY was appointed liquidator. CONTACT: TALKING HEADS LTD. 15 Market Pl, Selby, YO8 4PB Phone: 01757 702934 R. W. KEATING & CO. 2nd Floor 20 Winmarleigh Street Warrington Cheshire WA1 1JY Phone: 01925 245004 Fax: 01925 245357 E-mail: robert@rwkeating.fsnet.co.uk UNWINS WINE: Selling 150 More Outlets ------------------------------------- Submission of bids for the remaining 150 off-licenses owned by The Unwins Wine Group Ltd. ended 5 p.m. yesterday. A number of local retail traders and property companies, including rivals Whittalls Wines and Oddbins, were expected to be among those that submitted offers for individual outlets. Threshers, owned by Terra Firma Capital Partners, recently bought 200 Unwins outlets for less than GBP10 million from KPMG, the company's administrator. It opened around 70 outlets in time for the New Year. The 162-year-old Unwins Wine Group operates 380 shops and wholesale drinks outlets. It employs 2,000 mostly part-time staff; Threshers hopes to save 1,200 of them. Unwins was sold by controlling Wetz family to Australian businessman Philipp Cook's DM Private Equity for GBP32 million in March. In December, its banker HBOS appointed Myles Halley of KPMG as administrator. Recent accounts of Unwins filed at the Companies House, showed debt of GBP35.5 million, including GBP9.5 million in bank loans and overdrafts and GBP19.5 million to trade creditors. According to The Telegraph, Phillip Cook, chairman of Unwins and DM Equity, confirmed before Christmas that he intended to file a claim against former Unwins shareholders, directors and auditors. According to him, Unwins had a deficit of GBP3.7 million instead of a net asset value of GBP9.5 million. CONTACT: THE UNWINS WINE GROUP LTD. Birchwood House Victoria Road Dartford Kent DA1 5AJ Phone: 013 2227 2711 E-mail: jturner@unwins.co.uk Web site: http://www.unwins.co.uk KPMG Aquis Court, 31 Fishpool Street, St Albans, AL3 4RF Phone: 0500 644665 Web site: http://www.kpmg.co.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 2006. All rights reserved. ISSN 1529-2754. 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